[
  {
    "input": "As such, while we forecast an average of 13% ROICs including goodwill annually over the next five years, the actual results reported will probably be more volatile.",
    "output": "[Cause] an average of 13% ROICs including goodwill annually over the next five years [Relation] cause [Effect] the actual results reported will probably be more volatile",
    "gold": "[Cause] the actual results reported will probably be more volatile [Relation] prevent [Effect] an average of 13% ROICs including goodwill annually over the next five years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Well expenditure, which is variable with respect to operating days, is quite high; each operating day adds $1 million or more to the costs associated with rig day rates and other services. Thus, even if Frank's charges an extra 20% on its casing services (exact pricing is not provided), this $500,000 or so in incremental costs is easily outweighed by the millions of dollars in direct incremental costs associated with nonperforming time created by an inferior casing operation.",
    "output": "[Cause] Well expenditure, which is variable with respect to operating days, is quite high; each operating day adds $1 million or more to the costs associated with rig day rates and other services [Relation] cause [Effect] even if Frank's charges an extra 20% on its casing services (exact pricing is not provided), this $500,000 or so in incremental costs is easily outweighed by the millions of dollars in direct incremental costs associated with nonperforming time created by an inferior casing operation",
    "gold": "[Cause] Well expenditure, which is variable with respect to operating days, is quite high; each operating day adds $1 million or more to the costs associated with rig day rates and other services [Relation] cause [Effect] even if Frank's charges an extra 20% on its casing services (exact pricing is not provided), this $500,000 or so in incremental costs is easily outweighed by the millions of dollars in direct incremental costs associated with nonperforming time created by an inferior casing operation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customers tend to be loyal, and chips have long product lives because switching to a competing MCU could involve redesigning the entire end product.",
    "output": "[Cause] switching to a competing MCU could involve redesigning the entire end product [Relation] cause [Effect] chips have long product lives",
    "gold": "[Cause] switching to a competing MCU could involve redesigning the entire end product [Relation] cause [Effect] chips have long product lives",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we expect Astra will decelerate these asset sales as newly Drug Manufacturers - Generallaunched drugs offset patent pressures, a prolonged period of low returns could ensue if these avenues of divestments dry up quicker than anticipated.",
    "output": "[Cause] these avenues of divestments dry up quicker than anticipated [Relation] cause [Effect] a prolonged period of low returns could ensue",
    "gold": "[Cause] these avenues of divestments dry up quicker than anticipated [Relation] cause [Effect] a prolonged period of low returns could ensue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We estimate fines and penalties from the San Bruno disaster and allegations of poor recordkeeping resulted in $3 billion of lost shareholder value.",
    "output": "[Cause] fines and penalties from the San Bruno disaster and allegations of poor recordkeeping [Relation] cause [Effect] $3 billion of lost shareholder value",
    "gold": "[Cause] fines and penalties from the San Bruno disaster and allegations of poor recordkeeping [Relation] cause [Effect] $3 billion of lost shareholder value",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the years, these differentiators have allowed the firm to build a large installed base, which can have long useful lives (up to 40 years for applied HVAC systems).",
    "output": "[Cause] these differentiators [Relation] enable [Effect] the firm to build a large installed base",
    "gold": "[Cause] these differentiators [Relation] enable [Effect] the firm to build a large installed base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our fair value uncertainty rating for Qorvo is high, given the company's customer concentration, the intense competition in the RF and smartphone industries, and the cyclicality of the semiconductor industry.",
    "output": "[Cause] the company's customer concentration, the intense competition in the RF and smartphone industries, and the cyclicality of the semiconductor industry [Relation] cause [Effect] Our fair value uncertainty rating for Qorvo is high",
    "gold": "[Cause] the company's customer concentration, the intense competition in the RF and smartphone industries, and the cyclicality of the semiconductor industry [Relation] cause [Effect] Our fair value uncertainty rating for Qorvo is high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that while this has historically tracked the mid-single digit growth rate of semiconductor R&D spend, expansion of in-house chip design by systems companies will allow this to outpace historical rates.",
    "output": "[Cause] expansion of in-house chip design by systems companies [Relation] enable [Effect] this to outpace historical rates",
    "gold": "[Cause] expansion of in-house chip design by systems companies [Relation] enable [Effect] this to outpace historical rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This operational concentration creates relatively higher cash flow uncertainty than its less concentrated managed-care peers, which explains Centene's higher uncertainty rating.",
    "output": "[Cause] This operational concentration creates relatively higher cash flow uncertainty than its less concentrated managed-care peers [Relation] cause [Effect] Centene's higher uncertainty rating",
    "gold": "[Cause] This operational concentration creates relatively higher cash flow uncertainty than its less concentrated managed-care peers [Relation] cause [Effect] Centene's higher uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, Gap Global's same-store sales dropped 5% or more in 2014, 2015, 2018, and 2019, and we forecast a sales decline of about 25% in 2020 due to COVID-19 and store closures.",
    "output": "[Cause] COVID-19 and store closures [Relation] cause [Effect] a sales decline of about 25% in 2020",
    "gold": "[Cause] COVID-19 and store closures [Relation] cause [Effect] a sales decline of about 25% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have incorporated more optimistic assumptions for profitability improvements driven by the lower cost of distributing through pharmacies, potential for higher volume through pharmacies, and the lower cost of manufacturing G7.",
    "output": "[Cause] the lower cost of distributing through pharmacies, potential for higher volume through pharmacies, and the lower cost of manufacturing G7 [Relation] cause [Effect] We have incorporated more optimistic assumptions for profitability improvements",
    "gold": "[Cause] the lower cost of distributing through pharmacies, potential for higher volume through pharmacies, and the lower cost of manufacturing G7 [Relation] cause [Effect] We have incorporated more optimistic assumptions for profitability improvements",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although this trend hasn't materially affected Sensient's competitive positioning (as the company offers exposure to both types of products), shifts of a similar ilk could lead to a less favorable competitive positioning for Sensient.",
    "output": "[Cause] shifts of a similar ilk [Relation] cause [Effect] a less favorable competitive positioning for Sensient",
    "gold": "[Cause] shifts of a similar ilk [Relation] cause [Effect] a less favorable competitive positioning for Sensient",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although this trend hasn't materially affected Sensient's competitive positioning (as the company offers exposure to both types of products), shifts of a similar ilk could lead to a less favorable competitive positioning for Sensient.",
    "output": "[Cause] shifts of a similar ilk [Relation] cause [Effect] a less favorable competitive positioning for Sensient",
    "gold": "[Cause] the company offers exposure to both types of products [Relation] cause [Effect] this trend hasn't materially affected Sensient's competitive positioning",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Operating metrics are hurt by the strong dollar, as the company has significant manufacturing internationally while roughly half of sales are in North America.",
    "output": "[Cause] the company has significant manufacturing internationally while roughly half of sales are in North America [Relation] cause [Effect] Operating metrics are hurt by the strong dollar",
    "gold": "[Cause] the company has significant manufacturing internationally while roughly half of sales are in North America [Relation] cause [Effect] Operating metrics are hurt by the strong dollar",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even though we believe Magna will benefit from these industry disruptive technologies, the degree of Magna's product diversity dampens consolidated top-line growth and ROIC expansion potential from electric powertrain and vehicle autonomy.",
    "output": "[Cause] the degree of Magna's product diversity [Relation] prevent [Effect] consolidated top-line growth and ROIC expansion potential from electric powertrain and vehicle autonomy",
    "gold": "[Cause] the degree of Magna's product diversity [Relation] prevent [Effect] consolidated top-line growth and ROIC expansion potential from electric powertrain and vehicle autonomy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While an agricultural arms race exists in these markets, the high penetration of mechanized equipment somewhat limits Agco's upside potential in these core sales regions.But global macroeconomic factors play in Agco's favor.",
    "output": "[Cause] the high penetration of mechanized equipment somewhat [Relation] prevent [Effect] Agco's upside potential in these core sales regions",
    "gold": "[Cause] the high penetration of mechanized equipment somewhat [Relation] prevent [Effect]  Agco's upside potential in these core sales regions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, switching costs provide Digital Realty's biggest competitive advantage, as there are numerous reasons why tenants are unlikely to churn to a competitor, namely the significant monetary costs to deploy equipment and the risk in moving critical equipment.",
    "output": "[Cause] there are numerous reasons why tenants are unlikely to churn to a competitor, namely the significant monetary costs to deploy equipment and the risk in moving critical equipment [Relation] cause [Effect] switching costs provide Digital Realty's biggest competitive advantage",
    "gold": "[Cause] there are numerous reasons why tenants are unlikely to churn to a competitor, namely the significant monetary costs to deploy equipment and the risk in moving critical equipment [Relation] cause [Effect] switching costs provide Digital Realty's biggest competitive advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our base case, we assume contractual rent growth, occupancy and re-leasing spreads suffer due to the coronavirus outbreak that has forced nearly all retail and office properties to remain empty due to government-mandated shelter-in-place orders. As a result, we expect weak performance through 2022, before the market ultimately recovers and eventually settles at contractual growth of just under 2% in 2030.",
    "output": "[Cause] contractual rent growth, occupancy and re-leasing spreads suffer due to the coronavirus outbreak that has forced nearly all retail and office properties to remain empty due to government-mandated shelter-in-place orders [Relation] cause [Effect] weak performance through 2022, before the market ultimately recovers and eventually settles at contractual growth of just under 2% in 2030",
    "gold": "[Cause] contractual rent growth, occupancy and re-leasing spreads suffer due to the coronavirus outbreak that has forced nearly all retail and office properties to remain empty due to government-mandated shelter-in-place orders [Relation] cause [Effect] weak performance through 2022, before the market ultimately recovers and eventually settles at contractual growth of just under 2% in 2030",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Focused entry from companies such as Google, Amazon, Alibaba, and Facebook could have a meaningful impact on Booking's growth.",
    "output": "[Cause] Focused entry from companies such as Google, Amazon, Alibaba, and Facebook [Relation] enable [Effect] have a meaningful impact on Booking's growth",
    "gold": "[Cause] Focused entry from companies such as Google, Amazon, Alibaba, and Facebook [Relation] cause [Effect] have a meaningful impact on Booking's growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Traces of switching costs ultimately stem from the fact that, whether considering a commercial aircraft or an oil well, Allegheny's specialty alloys constitute a small portion of the construction cost but have a very high cost of failure. For this reason, the company's business relationships are very sticky, and customers are reluctant to switch to unproven suppliers of certain high-value products solely on the basis of cost.",
    "output": "[Cause] Traces of switching costs ultimately stem from the fact that, whether considering a commercial aircraft or an oil well, Allegheny's specialty alloys constitute a small portion of the construction cost but have a very high cost of failure [Relation] cause [Effect] the company's business relationships are very sticky, and customers are reluctant to switch to unproven suppliers of certain high-value products solely on the basis of cost",
    "gold": "[Cause] Traces of switching costs ultimately stem from the fact that, whether considering a commercial aircraft or an oil well, Allegheny's specialty alloys constitute a small portion of the construction cost but have a very high cost of failure [Relation] cause [Effect] the company's business relationships are very sticky, and customers are reluctant to switch to unproven suppliers of certain high-value products solely on the basis of cost",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At times, as liquidity has risen, CME Group has been able to decrease the minimum tick size, which lowers a customer's overall cost to trade.",
    "output": "[Cause] liquidity has risen [Relation] cause [Effect] decrease the minimum tick size",
    "gold": "[Cause]  liquidity has risen [Relation] cause [Effect] decrease the minimum tick size |  lowers a customer's overall cost to trade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, Darden has done a better job managing labor and other restaurant operating costs than many peers, and we see a path to mid-high-single-digit operating margins for the full year.",
    "output": "[Cause] Darden has done a better job managing labor and other restaurant operating costs than many peers [Relation] cause [Effect] a path to mid-high-single-digit operating margins for the full year",
    "gold": "[Cause] Darden has done a better job managing labor and other restaurant operating costs than many peers [Relation] enable [Effect]  a path to mid-high-single-digit operating margins for the full year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its unique product and its ability to commercialize the technology and continually make patent-protected innovative changes to the automatic-dimming mirror has enabled Gentex to generate returns on invested capital vastly superior to other auto suppliers.",
    "output": "[Cause] Its unique product and its ability to commercialize the technology and continually make patent-protected innovative changes to the automatic-dimming mirror [Relation] enable [Effect] Gentex to generate returns on invested capital vastly superior to other auto suppliers",
    "gold": "[Cause] Its unique product and its ability to commercialize the technology and continually make patent-protected innovative changes to the automatic-dimming mirror [Relation] enable [Effect] Gentex to generate returns on invested capital vastly superior to other auto suppliers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, the company's powerful distribution network sets up the company as a strong partner for smaller drug companies that lack Novartis' resources.",
    "output": "[Cause] the company's powerful distribution network [Relation] enable [Effect] the company as a strong partner for smaller drug companies that lack Novartis' resources",
    "gold": "[Cause] a strong partner for smaller drug companies that lack Novartis' resources [Relation] cause [Effect] the company's powerful distribution network sets up the company",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe that customers tend to be reluctant to switch vendors and risk damaging an expensive engine by using an improper filter, as the cost of failure could far outweigh the cost savings of switching to a cheaper solution.",
    "output": "[Cause] the cost of failure could far outweigh the cost savings of switching to a cheaper solution [Relation] cause [Effect] customers tend to be reluctant to switch vendors and risk damaging an expensive engine by using an improper filter",
    "gold": "[Cause] the cost of failure could far outweigh the cost savings of switching to a cheaper solution [Relation] cause [Effect] customers tend to be reluctant to switch vendors and risk damaging an expensive engine by using an improper filter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Many demographic trends, such as falling homeownership, rising relative cost of single-family housing, and urban gentrification, have favorably shifted the population of urban, coastal markets toward renting, creating more demand for multifamily assets. These trends are driven by the tastes and desires of the millennials, which may reverse as they age and acquire enough capital to own single-family homes.",
    "output": "[Cause] the tastes and desires of the millennials, which may reverse as they age and acquire enough capital to own single-family homes [Relation] cause [Effect] Many demographic trends, such as falling homeownership, rising relative cost of single-family housing, and urban gentrification, have favorably shifted the population of urban, coastal markets toward renting, creating more demand for multifamily assets",
    "gold": "[Cause] the tastes and desires of the millennials, which may reverse as they age and acquire enough capital to own single-family homes [Relation] enable [Effect] Many demographic trends, such as falling homeownership, rising relative cost of single-family housing, and urban gentrification, have favorably shifted the population of urban, coastal markets toward renting, creating more demand for multifamily assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our expectations for Sartorius, and especially the exposure to high-growth biopharma, is meaningful for Bio-Rad, and if Sartorius meets or exceeds our expectations, the investment could account for a greater portion of valuation over time.",
    "output": "[Cause] Sartorius meets or exceeds our expectations [Relation] enable [Effect] the investment could account for a greater portion of valuation over time",
    "gold": "[Cause] Sartorius meets or exceeds our expectations, the investment could account for a greater portion of valuation over time [Relation] enable [Effect] Our expectations for Sartorius, and especially the exposure to high-growth biopharma, is meaningful for Bio-Rad",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We're expecting lower capital expenditures in the near term due to crisis-induced deferrals, but that capital expenditures as a percent of sales will normalize slightly below the trailing five-year average at 3.7%, to reflect the capital increases Spirit has already completed for high levels of production.",
    "output": "[Cause] crisis-induced deferrals [Relation] cause [Effect] lower capital expenditures in the near term",
    "gold": "[Cause]  the capital increases Spirit has already completed for high levels of production [Relation] cause [Effect] that capital expenditures as a percent of sales will normalize slightly below the trailing five-year average at 3.7%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We're expecting lower capital expenditures in the near term due to crisis-induced deferrals, but that capital expenditures as a percent of sales will normalize slightly below the trailing five-year average at 3.7%, to reflect the capital increases Spirit has already completed for high levels of production.",
    "output": "[Cause] capital increases Spirit has already completed for high levels of production [Relation] cause [Effect] capital expenditures as a percent of sales will normalize slightly below the trailing five-year average at 3.7%",
    "gold": "[Cause]  crisis-induced deferrals [Relation] cause [Effect]  lower capital expenditures in the near term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think the human capital risk is a greater challenge for some of Ferguson's smaller competitors that have fewer resources to manage this risk.",
    "output": "[Cause] the human capital risk [Relation] cause [Effect] a greater challenge for some of Ferguson's smaller competitors",
    "gold": "[Cause] some of Ferguson's smaller competitors that have fewer resources to manage this risk [Relation] cause [Effect] the human capital risk is a greater challenge",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Targeted promotional activity allows the firm to charge consumers different prices (based on individual price elasticity) without cheapening the brand, while limited-time offers and promotional activity can help drive volumes across dayparts and toward underutilized days of the week or times of day.",
    "output": "[Cause] limited-time offers and promotional activity [Relation] enable [Effect] help drive volumes across dayparts and toward underutilized days of the week or times of day",
    "gold": "[Cause] limited-time offers and promotional activity [Relation] enable [Effect]  help drive volumes across dayparts and toward underutilized days of the week or times of day",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Responsibility for emissions from operations typically falls on the well operator rather than the drilling companies themselves, so the risk for incurring fines--while not non-existent--is lower for drillers like H&P.",
    "output": "[Cause] Responsibility for emissions from operations typically falls on the well operator rather than the drilling companies themselves [Relation] cause [Effect] the risk for incurring fines--while not non-existent--is lower for drillers like H&P",
    "gold": "[Cause] Responsibility for emissions from operations typically falls on the well operator rather than the drilling companies themselves [Relation] cause [Effect] the risk for incurring fines--while not non-existent--is lower for drillers like H&P",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For Ahold, we see lower risks ahead in case online grocery does not live up to expectations as the fulfilment model it has chosen to follow (microfulfilment) is less capital-intensive than some of its large competitors (Kroger).",
    "output": "[Cause] the fulfilment model it has chosen to follow (microfulfilment) is less capital-intensive than some of its large competitors (Kroger) [Relation] cause [Effect] lower risks ahead in case online grocery does not live up to expectations",
    "gold": "[Cause] we see lower risks ahead [Relation] prevent [Effect] online grocery does not live up to expectations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For Ahold, we see lower risks ahead in case online grocery does not live up to expectations as the fulfilment model it has chosen to follow (microfulfilment) is less capital-intensive than some of its large competitors (Kroger).",
    "output": "[Cause] the fulfilment model it has chosen to follow (microfulfilment) is less capital-intensive than some of its large competitors (Kroger) [Relation] cause [Effect] lower risks ahead",
    "gold": "[Cause] the fulfilment model it has chosen to follow (microfulfilment) is less capital-intensive than some of its large competitors (Kroger) [Relation] cause [Effect] we see lower risks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The current credit environment for Synchrony has been surprisingly good, as forbearance programs and fiscal stimulus have forestalled major credit losses from the pandemic.",
    "output": "[Cause] forbearance programs and fiscal stimulus have forestalled major credit losses from the pandemic [Relation] cause [Effect] The current credit environment for Synchrony has been surprisingly good",
    "gold": "[Cause]  forbearance programs and fiscal stimulus have forestalled major credit losses from the pandemic [Relation] cause [Effect] The current credit environment for Synchrony has been surprisingly good",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Instead, we see the pandemic as accelerating digitization that was already occurring, posing a profitability headwind once the current sales surge ebbs but reinforcing Walmart's unique position as the likely long-term omnichannel leader.",
    "output": "[Cause] the current sales surge ebbs [Relation] cause [Effect] a profitability headwind",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] accelerating digitization",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Instead, we see the pandemic as accelerating digitization that was already occurring, posing a profitability headwind once the current sales surge ebbs but reinforcing Walmart's unique position as the likely long-term omnichannel leader.",
    "output": "[Cause] the current sales surge ebbs [Relation] cause [Effect] a profitability headwind",
    "gold": "[Cause] the current sales surge ebbs [Relation] cause [Effect] a profitability headwind",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Instead, we see the pandemic as accelerating digitization that was already occurring, posing a profitability headwind once the current sales surge ebbs but reinforcing Walmart's unique position as the likely long-term omnichannel leader.",
    "output": "[Cause] the current sales surge ebbs [Relation] cause [Effect] a profitability headwind",
    "gold": "[Cause] the current sales surge ebbs [Relation] enable [Effect] reinforcing Walmart's unique position as the likely long-term omnichannel leader",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In this regard, Monster's retail entrenchment is underpinned by the resonance of its brand, which ensures continued end-consumer demand, as well as its agreement with Coca-Cola, where the entity with the most clout in the nonalcoholic beverage industry secures shelf space and store positioning on its behalf.",
    "output": "[Cause] the resonance of its brand [Relation] enable [Effect] Monster's retail entrenchment",
    "gold": "[Cause] the resonance of its brand [Relation] enable [Effect] ensures continued end-consumer demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In this regard, Monster's retail entrenchment is underpinned by the resonance of its brand, which ensures continued end-consumer demand, as well as its agreement with Coca-Cola, where the entity with the most clout in the nonalcoholic beverage industry secures shelf space and store positioning on its behalf.",
    "output": "[Cause] the resonance of its brand [Relation] enable [Effect] Monster's retail entrenchment is underpinned",
    "gold": "[Cause] the resonance of its brand [Relation] cause [Effect] Monster's retail entrenchment is underpinned",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In this regard, Monster's retail entrenchment is underpinned by the resonance of its brand, which ensures continued end-consumer demand, as well as its agreement with Coca-Cola, where the entity with the most clout in the nonalcoholic beverage industry secures shelf space and store positioning on its behalf.",
    "output": "[Cause] the resonance of its brand [Relation] enable [Effect] ensures continued end-consumer demand",
    "gold": "[Cause] its agreement with Coca-Cola [Relation] enable [Effect]  secures shelf space and store positioning on its behalf",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Pepsi's growth trajectory is not without risk, as the company faces secular headwinds such as shifts in consumer behavior.",
    "output": "[Cause] the company faces secular headwinds such as shifts in consumer behavior [Relation] cause [Effect] Pepsi's growth trajectory is not without risk",
    "gold": "[Cause] the company faces secular headwinds such as shifts in consumer behavior [Relation] cause [Effect] Pepsi's growth trajectory is not without risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "CSPs typically award contracts to multiple vendors to avoid supplier lock-in and exert pricing power during their contract bidding process.",
    "output": "[Cause] CSPs typically award contracts to multiple vendors [Relation] prevent [Effect] supplier lock-in and exert pricing power during their contract bidding process",
    "gold": "[Cause] CSPs typically award contracts to multiple vendors [Relation] prevent [Effect] supplier lock-in and exert pricing power during their contract bidding process",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are subtracting the debt from our enterprise value but not adding the cash to our enterprise value to reflect the substantial uncertainty regarding the use of cash.",
    "output": "[Cause] the substantial uncertainty regarding the use of cash [Relation] cause [Effect] We are subtracting the debt from our enterprise value but not adding the cash to our enterprise value",
    "gold": "[Cause] the substantial uncertainty regarding the use of cash [Relation] cause [Effect] We are subtracting the debt from our enterprise value but not adding the cash to our enterprise value",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the next five years, we expect Weibo's return on invested capital to increase with rapid monetization and operating leverage.",
    "output": "[Cause] rapid monetization and operating leverage [Relation] enable [Effect] Weibo's return on invested capital to increase",
    "gold": "[Cause] rapid monetization and operating leverage [Relation] cause [Effect] Weibo's return on invested capital to increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Digital commerce is evolving, which makes the competitive landscape somewhat unsettled, and we simply do not have enough confidence that excess returns will likely continue beyond 10 years.",
    "output": "[Cause] Digital commerce is evolving [Relation] cause [Effect] the competitive landscape somewhat unsettled",
    "gold": "[Cause] Digital commerce is evolving [Relation] cause [Effect]  the competitive landscape somewhat unsettled",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Digital commerce is evolving, which makes the competitive landscape somewhat unsettled, and we simply do not have enough confidence that excess returns will likely continue beyond 10 years.",
    "output": "[Cause] Digital commerce is evolving [Relation] cause [Effect] the competitive landscape somewhat unsettled",
    "gold": "[Cause] Digital commerce is evolving [Relation] cause [Effect]  we simply do not have enough confidence that excess returns will likely continue beyond 10 years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also believe G&K-related cost synergies and incremental operating leverage from route density gains in Cintas' legacy uniform rental division and first aid and safety segment will improve operating margins over time, and we bake in a midcycle operating margin of 18%.",
    "output": "[Cause] G&K-related cost synergies and incremental operating leverage from route density gains in Cintas' legacy uniform rental division and first aid and safety segment [Relation] enable [Effect] improve operating margins over time",
    "gold": "[Cause]  improve operating margins over time [Relation] enable [Effect] we bake in a midcycle operating margin of 18%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "On the bright side, as a result of Deutsche's accelerated transformation progress in 2019 and the reduction in risk-weighted assets, the group had built a capital buffer of about EUR 6.5 billion before global economies went into lockdown.",
    "output": "[Cause] Deutsche's accelerated transformation progress in 2019 and the reduction in risk-weighted assets [Relation] cause [Effect] the group had built a capital buffer of about EUR 6.5 billion before global economies went into lockdown",
    "gold": "[Cause] Deutsche's accelerated transformation progress in 2019 and the reduction in risk-weighted assets [Relation] cause [Effect] the group had built a capital buffer of about EUR 6.5 billion before global economies went into lockdown",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think this segment benefits both from intangible assets thanks to superior technology, regulatory barriers, and intellectual property, as well as switching costs from recurring revenue in aftermarket services.",
    "output": "[Cause] intangible assets thanks to superior technology, regulatory barriers, and intellectual property, as well as switching costs from recurring revenue in aftermarket services [Relation] enable [Effect] this segment benefits",
    "gold": "[Cause]  intangible assets thanks to superior technology, regulatory barriers, and intellectual property, as well as switching costs from recurring revenue in aftermarket services [Relation] cause [Effect] this segment benefits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nevertheless, AbbVie derives enormous cash flows from its current product portfolio to fund ongoing Drug Manufacturers - Generaldiscovery and development of the next generation of drugs.",
    "output": "[Cause] AbbVie derives enormous cash flows from its current product portfolio [Relation] enable [Effect] fund ongoing Drug Manufacturers - Generaldiscovery and development of the next generation of drugs",
    "gold": "[Cause] AbbVie derives enormous cash flows from its current product portfolio [Relation] enable [Effect] fund ongoing Drug Manufacturers - Generaldiscovery and development of the next generation of drugs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Having larger banks helps spread out fixed costs across a larger operating base, increasing operating efficiency, as the four largest Canadian banks are all bigger than the largest U.S.",
    "output": "[Cause] the four largest Canadian banks are all bigger than the largest U.S [Relation] cause [Effect] Having larger banks helps spread out fixed costs across a larger operating base",
    "gold": "[Cause] Having larger banks [Relation] enable [Effect] spread out fixed costs across a larger operating base",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Having larger banks helps spread out fixed costs across a larger operating base, increasing operating efficiency, as the four largest Canadian banks are all bigger than the largest U.S.",
    "output": "[Cause] the four largest Canadian banks are all bigger than the largest U.S [Relation] cause [Effect] Having larger banks helps spread out fixed costs across a larger operating base, increasing operating efficiency",
    "gold": "[Cause] Having larger banks [Relation] enable [Effect] operating efficiency",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe competition in the women's handbag market has intensified over the past decade, requiring Tapestry to attract customers and maintain premium pricing.",
    "output": "[Cause] competition in the women's handbag market has intensified over the past decade [Relation] cause [Effect] requiring Tapestry to attract customers and maintain premium pricing",
    "gold": "[Cause] competition in the women's handbag market has intensified over the past decade [Relation] enable [Effect] requiring Tapestry to attract customers and maintain premium pricing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, if the public option creates a scenario where a significant portion of the employer-based insurance population switches to government-sponsored plans, Humana's commercial business that caters largely to small businesses may suffer.",
    "output": "[Cause] the public option creates a scenario where a significant portion of the employer-based insurance population switches to government-sponsored plans [Relation] cause [Effect] Humana's commercial business that caters largely to small businesses may suffer",
    "gold": "[Cause] the public option creates a scenario where a significant portion of the employer-based insurance population switches to government-sponsored plans [Relation] cause [Effect] Humana's commercial business that caters largely to small businesses may suffer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This places Terex in a weak bargaining position because one product can be easily replaced with a similar product from another vendor.",
    "output": "[Cause] one product can be easily replaced with a similar product from another vendor [Relation] cause [Effect] Terex in a weak bargaining position",
    "gold": "[Cause] one product can be easily replaced with a similar product from another vendor [Relation] cause [Effect] Terex in a weak bargaining position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The news channel has leveraged its hold over conservative-leaning viewers to become the number one ranked cable network in the P2+ demo (all age groups) for both prime time and all-day for the last three years.",
    "output": "[Cause] The news channel has leveraged its hold over conservative-leaning viewers [Relation] enable [Effect] become the number one ranked cable network in the P2+ demo (all age groups) for both prime time and all-day for the last three years",
    "gold": "[Cause] The news channel has leveraged its hold over conservative-leaning viewers [Relation] cause [Effect] become the number one ranked cable network in the P2+ demo (all age groups) for both prime time and all-day for the last three years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Therefore, we believe that the spin-off from Fortive will allow Vontier to redeploy capital back into its business and accelerate growth through M&A.",
    "output": "[Cause] the spin-off from Fortive [Relation] enable [Effect] Vontier to redeploy capital back into its business and accelerate growth through M&A",
    "gold": "[Cause] the spin-off from Fortive [Relation] enable [Effect] Vontier to redeploy capital back into its business and accelerate growth through M&A",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Layering prescriptive software with machine learning and artificial intelligence on top of these solutions allows customers to focus on activities with higher return on investment and creates a stickier solution by further embedding Zebra's technology in customer processes.",
    "output": "[Cause] further embedding Zebra's technology in customer processes [Relation] enable [Effect] creates a stickier solution",
    "gold": "[Cause] further embedding Zebra's technology in customer processes [Relation] enable [Effect] creates a stickier solution",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Once an exchange becomes the leading or sole venue to trade a security or derivative, the exchange can use this intangible asset to develop additional products.",
    "output": "[Cause] an exchange becomes the leading or sole venue to trade a security or derivative [Relation] enable [Effect] the exchange can use this intangible asset to develop additional products",
    "gold": "[Cause] an exchange becomes the leading or sole venue to trade a security or derivative [Relation] enable [Effect] the exchange can use this intangible asset to develop additional products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Though we still anticipate 40 basis points of margin gains in 2022, we think the rate of margin expansion could slow because of more-normal levels of operating costs.",
    "output": "[Cause] more-normal levels of operating costs [Relation] cause [Effect] the rate of margin expansion could slow",
    "gold": "[Cause] more-normal levels of operating costs [Relation] enable [Effect] the rate of margin expansion could slow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "IFF can help save costs for its customers by providing \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"fine-tuning\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" flavor agents that allow for the use of cheaper ingredients or extend a product's shelf life.",
    "output": "[Cause] providing \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"",
    "gold": "[Cause] IFF can help save costs for its customers by providing \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"fine-tuning\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" flavor agents [Relation] enable [Effect]  the use of cheaper ingredients or extend a product's shelf life",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "New stores should drive capital spending; we anticipate Sprouts outlays 3% of sales long term (after a fiscal 2021 store opening slowdown), lower than its 4% three-year average before the pandemic as new unit costs become a smaller portion of the sales base.",
    "output": "[Cause] new unit costs become a smaller portion of the sales base [Relation] cause [Effect] Sprouts outlays 3% of sales long term (after a fiscal 2021 store opening slowdown), lower than its 4% three-year average before the pandemic",
    "gold": "[Cause] new unit costs become a smaller portion of the sales base [Relation] cause [Effect] Sprouts outlays 3% of sales long term (after a fiscal 2021 store opening slowdown), lower than its 4% three-year average before the pandemic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Engine failures were so widespread that customers' operations were severely disrupted, leading to numerous lawsuits that have dragged on into 2019 and which may have alienated a generation of customers.",
    "output": "[Cause] Engine failures were so widespread [Relation] cause [Effect] customers' operations were severely disrupted",
    "gold": "[Cause] Engine failures were so widespread [Relation] cause [Effect] customers' operations were severely disrupted",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Engine failures were so widespread that customers' operations were severely disrupted, leading to numerous lawsuits that have dragged on into 2019 and which may have alienated a generation of customers.",
    "output": "[Cause] Engine failures were so widespread [Relation] cause [Effect] numerous lawsuits that have dragged on into 2019 and which may have alienated a generation of customers",
    "gold": "[Cause] leading to numerous lawsuits that have dragged on into 2019 [Relation] cause [Effect] which may have alienated a generation of customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A quarter of the revision is driven by a stronger-than-expected first quarter, and the primary driver is the 150-basis-point drop in our cost of debt estimate to 6.5%, given the material improvement in US Foods' balance sheet.",
    "output": "[Cause] the material improvement in US Foods' balance sheet [Relation] cause [Effect] the 150-basis-point drop in our cost of debt estimate to 6.5%",
    "gold": "[Cause] A quarter of the revision is driven by a stronger-than-expected first quarter, and the primary driver is the 150-basis-point drop in our cost of debt estimate to 6.5% [Relation] enable [Effect] material improvement in US Foods' balance sheet",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As the firm derives more than 90% of annual revenue from investment management fees levied on its AUM, dramatic market movements or changes in fund flows can have a significant impact on operating income and cash flows.",
    "output": "[Cause] the firm derives more than 90% of annual revenue from investment management fees levied on its AUM [Relation] cause [Effect] dramatic market movements or changes in fund flows can have a significant impact on operating income and cash flows",
    "gold": "[Cause] the firm derives more than 90% of annual revenue from investment management fees levied on its AUM [Relation] cause [Effect] dramatic market movements or changes in fund flows can have a significant impact on operating income and cash flows",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A digital agency takes a more holistic view of marketing than a traditional agency, as digital agencies look to bring more integrated product experiences for customers, which often require a heavy lift on the technology side.",
    "output": "[Cause] digital agencies look to bring more integrated product experiences for customers [Relation] cause [Effect] require a heavy lift on the technology side",
    "gold": "[Cause] digital agencies look to bring more integrated product experiences for customers [Relation] cause [Effect] A digital agency takes a more holistic view of marketing than a traditional agency",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With growth in the renewable diesel business combined with the refining projects, Valero aims to increase annual EBITDA by up to $1.6 billion a year.",
    "output": "[Cause] growth in the renewable diesel business combined with the refining projects [Relation] enable [Effect] increase annual EBITDA by up to $1.6 billion a year",
    "gold": "[Cause] growth in the renewable diesel business combined with the refining projects [Relation] cause [Effect]  increase annual EBITDA by up to $1.6 billion a year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we believe that CSP infrastructure spending may start to decelerate after building out 5G networks, we expect broader use cases for Nokia's equipment, software, and services within 5G and Internet of Things networks to support respectable growth beyond our explicit forecast.",
    "output": "[Cause] building out 5G networks [Relation] cause [Effect] CSP infrastructure spending may start to decelerate",
    "gold": "[Cause] building out 5G networks [Relation] cause [Effect] CSP infrastructure spending may start to decelerate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we believe that CSP infrastructure spending may start to decelerate after building out 5G networks, we expect broader use cases for Nokia's equipment, software, and services within 5G and Internet of Things networks to support respectable growth beyond our explicit forecast.",
    "output": "[Cause] broader use cases for Nokia's equipment, software, and services within 5G and Internet of Things networks [Relation] enable [Effect] support respectable growth beyond our explicit forecast",
    "gold": "[Cause] broader use cases for Nokia's equipment, software, and services within 5G and Internet of Things networks [Relation] cause [Effect] support respectable growth beyond our explicit forecast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do expect revenue from CME's equity derivatives to partially normalize over time as retail interest in equity markets fades.",
    "output": "[Cause] retail interest in equity markets fades [Relation] cause [Effect] revenue from CME's equity derivatives to partially normalize over time",
    "gold": "[Cause]  retail interest in equity markets fades [Relation] cause [Effect] revenue from CME's equity derivatives to partially normalize over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, competition from large peers like NXP Semiconductors and Infineon could cause the firm to fall short of its ambitious revenue and profitability targets.",
    "output": "[Cause] competition from large peers like NXP Semiconductors and Infineon [Relation] cause [Effect] the firm to fall short of its ambitious revenue and profitability targets",
    "gold": "[Cause] competition from large peers like NXP Semiconductors and Infineon [Relation] cause [Effect] the firm to fall short of its ambitious revenue and profitability targets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Arkansas legalized gambling in 2018, awarding four gaming licenses, which presents competition for Caesars' properties in the neighboring states of Louisiana, Mississippi, and Missouri.",
    "output": "[Cause] Arkansas legalized gambling in 2018, awarding four gaming licenses [Relation] cause [Effect] presents competition for Caesars' properties in the neighboring states of Louisiana, Mississippi, and Missouri",
    "gold": "[Cause] Arkansas legalized gambling in 2018, awarding four gaming licenses [Relation] cause [Effect] presents competition for Caesars' properties in the neighboring states of Louisiana, Mississippi, and Missouri",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Price/mix has deteriorated in several consumer product categories in recent years, amid greater competition from the hard discounters and lower barriers to entry in the e-commerce channel.",
    "output": "[Cause] greater competition from the hard discounters and lower barriers to entry in the e-commerce channel [Relation] cause [Effect] Price/mix has deteriorated in several consumer product categories in recent years",
    "gold": "[Cause] Price/mix has deteriorated in several consumer product categories [Relation] prevent [Effect] amid greater competition from the hard discounters and lower barriers to entry in the e-commerce channel",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, ADM's carbohydrate solutions profits can be affected by the spread between corn meal and soymeal prices as the two can be used interchangably in many products such as animal nutrition.",
    "output": "[Cause] the two can be used interchangably in many products such as animal nutrition [Relation] cause [Effect] ADM's carbohydrate solutions profits can be affected",
    "gold": "[Cause]  the spread between corn meal and soymeal prices [Relation] enable [Effect] ADM's carbohydrate solutions profits can be affected",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This cross-selling opportunity is supported by Paycom's investments in its platform, which should allow the company to expand its customer base further up-market.",
    "output": "[Cause] This cross-selling opportunity is supported by Paycom's investments in its platform [Relation] enable [Effect] the company to expand its customer base further up-market",
    "gold": "[Cause] Paycom's investments in its platform [Relation] enable [Effect] This cross-selling opportunity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe that broadband is the largest growth opportunity for Televisa, as Mexico's broadband penetration is below 65% even after the tailwind effect of the pandemic.",
    "output": "[Cause] Mexico's broadband penetration is below 65% even after the tailwind effect of the pandemic [Relation] cause [Effect] broadband is the largest growth opportunity for Televisa",
    "gold": "[Cause] Mexico's broadband penetration is below 65% even after the tailwind effect of the pandemic [Relation] cause [Effect] broadband is the largest growth opportunity for Televisa",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This cyclicality is partially offset by Nordson's large installed base of equipment, which drives a relatively stable stream of recurring revenue from aftermarket parts and consumables (57% of sales in fiscal 2020).",
    "output": "[Cause] Nordson's large installed base of equipment [Relation] cause [Effect] This cyclicality is partially offset",
    "gold": "[Cause] This cyclicality is partially offset by Nordson's large installed base of equipment [Relation] cause [Effect] a relatively stable stream of recurring revenue from aftermarket parts and consumables",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The critical nature of ensuring users can access their applications while safeguarding that unauthorized users cannot use such resources make SSO a powerful resource that security teams rely on to give a better user experience and tighten security posture.",
    "output": "[Cause] The critical nature of ensuring users can access their applications while safeguarding that unauthorized users cannot use such resources [Relation] enable [Effect] SSO a powerful resource that security teams rely on to give a better user experience and tighten security posture",
    "gold": "[Cause] The critical nature of ensuring users can access their applications while safeguarding that unauthorized users cannot use such resources [Relation] enable [Effect] SSO a powerful resource that security teams rely on to give a better user experience and tighten security posture",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We view the online trend as favorable, as Adidas sells much of its products through digital channels at full price and likely achieves a better margin by shifting some sales from wholesale channels.",
    "output": "[Cause] Adidas sells much of its products through digital channels at full price [Relation] cause [Effect] achieves a better margin by shifting some sales from wholesale channels",
    "gold": "[Cause] shifting some sales from wholesale channels [Relation] enable [Effect] achieves a better margin",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Cloud providers and other major content users have already proved they can replicate Akamai's business for their own use, as they largely moved their businesses off Akamai's CDN and now meet their own needs internally.",
    "output": "[Cause] they largely moved their businesses off Akamai's CDN and now meet their own needs internally [Relation] cause [Effect] Cloud providers and other major content users have already proved they can replicate Akamai's business for their own use",
    "gold": "[Cause] they largely moved their businesses off Akamai's CDN and now meet their own needs internally [Relation] cause [Effect] Cloud providers and other major content users have already proved they can replicate Akamai's business for their own use",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Average revenue per user has also grown, as customers adopt new modules and the firm makes progress up-market, up 82% since 2015.",
    "output": "[Cause] customers adopt new modules [Relation] cause [Effect] Average revenue per user has also grown",
    "gold": "[Cause] customers adopt new modules [Relation] enable [Effect] Average revenue per user has also grown",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Average revenue per user has also grown, as customers adopt new modules and the firm makes progress up-market, up 82% since 2015.",
    "output": "[Cause] customers adopt new modules and the firm makes progress up-market [Relation] cause [Effect] Average revenue per user has also grown",
    "gold": "[Cause] customers adopt new modules [Relation] enable [Effect] the firm makes progress up-market, up 82%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "LKQ's auto-parts sales in Europe are mostly for mechanical repairs, which leaves open the possibility of growth of collision parts sales in the region.",
    "output": "[Cause] LKQ's auto-parts sales in Europe are mostly for mechanical repairs [Relation] enable [Effect] the possibility of growth of collision parts sales in the region",
    "gold": "[Cause] LKQ's auto-parts sales in Europe are mostly for mechanical repairs [Relation] enable [Effect] the possibility of growth of collision parts sales in the region",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the longer term, we expect EDU to continue to benefit from industry consolidation and gain market share due to its leading position in China's private after-school education market and also through strong organic growth.",
    "output": "[Cause] its leading position in China's private after-school education market and also through strong organic growth [Relation] cause [Effect] EDU to continue to benefit from industry consolidation and gain market share",
    "gold": "[Cause]  its leading position in China's private after-school education market and also through strong organic growth [Relation] cause [Effect] EDU to continue to benefit from industry consolidation and gain market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We posit that 400Gb switch adoption will create greenfield opportunities for Juniper, but we expect industry peers to also remain leaders on the innovation curve.",
    "output": "[Cause] 400Gb switch adoption [Relation] enable [Effect] greenfield opportunities for Juniper",
    "gold": "[Cause] 400Gb switch adoption [Relation] enable [Effect] greenfield opportunities for Juniper",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These solutions are integrated in customer workflows and given that the price paid to IHS Markit is only a small part of the client's overall costs, there is little incentive for carmakers to switch providers.",
    "output": "[Cause] the price paid to IHS Markit is only a small part of the client's overall costs [Relation] cause [Effect] there is little incentive for carmakers to switch providers",
    "gold": "[Cause]  the price paid to IHS Markit is only a small part of the client's overall costs [Relation] cause [Effect]  there is little incentive for carmakers to switch providers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Product distribution can be a tough business--low barriers to entry combined with customer and supplier bargaining power can erode returns on invested capital.",
    "output": "[Cause] low barriers to entry combined with customer and supplier bargaining power [Relation] cause [Effect] erode returns on invested capital",
    "gold": "[Cause] low barriers to entry combined with customer and supplier bargaining power can erode returns on invested capital [Relation] cause [Effect] Product distribution can be a tough business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, we expect TE to continue expanding its margins via footprint consolidation, as it streamlines the fixed asset portfolio it has gained over a decade of acquisitions.",
    "output": "[Cause] it streamlines the fixed asset portfolio it has gained over a decade of acquisitions [Relation] cause [Effect] TE to continue expanding its margins via footprint consolidation",
    "gold": "[Cause] it streamlines the fixed asset portfolio it has gained over a decade of acquisitions [Relation] enable [Effect] TE to continue expanding its margins via footprint consolidation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the hospital side, we think Allscripts' smaller customer base and broad focus may deter hospitals, and practices to a lesser degree, from making a large investment to make the switch.",
    "output": "[Cause] Allscripts' smaller customer base and broad focus [Relation] prevent [Effect] hospitals, and practices to a lesser degree, from making a large investment to make the switch",
    "gold": "[Cause] Allscripts' smaller customer base and broad focus [Relation] cause [Effect] may deter hospitals, and practices to a lesser degree",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We aren't, however, forecasting Thermo Fisher to return entirely to its prepandemic revenue levels, as the company's successful execution and further entrenchment and share gains during the pandemic are likely to stay.",
    "output": "[Cause] the company's successful execution and further entrenchment and share gains during the pandemic are likely to stay [Relation] cause [Effect] forecasting Thermo Fisher to return entirely to its prepandemic revenue levels",
    "gold": "[Cause] the company's successful execution and further entrenchment and share gains during the pandemic are likely to stay [Relation] cause [Effect]  forecasting Thermo Fisher to return entirely to its prepandemic revenue levels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The Western Union brand is the most recognized in the industry and its network is unparalleled, which allows the company to maintain premium pricing in some corridors.",
    "output": "[Cause] The Western Union brand is the most recognized in the industry and its network is unparalleled [Relation] enable [Effect] the company to maintain premium pricing in some corridors",
    "gold": "[Cause] The Western Union brand is the most recognized in the industry and its network is unparalleled [Relation] enable [Effect] the company to maintain premium pricing in some corridors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Similarly we see a long-term conversion pathway in toothbrushes from manual to electric, as a large percentage of the population still brushes manually.",
    "output": "[Cause] a large percentage of the population still brushes manually [Relation] cause [Effect] a long-term conversion pathway in toothbrushes from manual to electric",
    "gold": "[Cause]  a large percentage of the population still brushes manually [Relation] cause [Effect] a long-term conversion pathway in toothbrushes from manual to electric",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The rail's OR (expenses/revenue) improved to an outstanding 57% in 2020--a company record--on efficiency gains rooted in a long-standing PSR-ingrained culture and lower fuel costs.",
    "output": "[Cause] efficiency gains rooted in a long-standing PSR-ingrained culture and lower fuel costs [Relation] cause [Effect] The rail's OR (expenses/revenue) improved to an outstanding 57% in 2020--a company record",
    "gold": "[Cause] a long-standing PSR-ingrained culture and lower fuel costs [Relation] cause [Effect] efficiency gains",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Total's recent divestment of its Canadian oil sands operations in Joslyn given the associated high production costs should also help Total reduce emissions, as oil sands rank as one of the most carbon-intensive upstream assets.",
    "output": "[Cause] the associated high production costs [Relation] cause [Effect] Total's recent divestment of its Canadian oil sands operations in Joslyn",
    "gold": "[Cause] the associated high production costs [Relation] cause [Effect] Total's recent divestment of its Canadian oil sands operations in Joslyn",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Total's recent divestment of its Canadian oil sands operations in Joslyn given the associated high production costs should also help Total reduce emissions, as oil sands rank as one of the most carbon-intensive upstream assets.",
    "output": "[Cause] Total's recent divestment of its Canadian oil sands operations in Joslyn [Relation] enable [Effect] help Total reduce emissions",
    "gold": "[Cause] Total's recent divestment of its Canadian oil sands operations in Joslyn [Relation] enable [Effect] help Total reduce emissions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Total's recent divestment of its Canadian oil sands operations in Joslyn given the associated high production costs should also help Total reduce emissions, as oil sands rank as one of the most carbon-intensive upstream assets.",
    "output": "[Cause] Total's recent divestment of its Canadian oil sands operations in Joslyn [Relation] enable [Effect] help Total reduce emissions",
    "gold": "[Cause] oil sands rank as one of the most carbon-intensive upstream assets [Relation] enable [Effect] help Total reduce emissions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Farmers quickly saw the benefits of this invention and rapidly adopted the technology, ushering in the era of mechanized farming in the early 1900s.",
    "output": "[Cause] Farmers quickly saw the benefits of this invention and rapidly adopted the technology [Relation] enable [Effect] ushering in the era of mechanized farming in the early 1900s",
    "gold": "[Cause] Farmers quickly saw the benefits of this invention and rapidly adopted the technology [Relation] enable [Effect] ushering in the era of mechanized farming in the early 1900s",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Astra's next generation of drugs launch, we expect operating margins to improve based on the strong pricing power of the new drugs and the operating leverage the firm should attain as the new drugs reach critical mass.",
    "output": "[Cause] the strong pricing power of the new drugs and the operating leverage the firm should attain as the new drugs reach critical mass [Relation] cause [Effect] operating margins to improve",
    "gold": "[Cause] Astra's next generation of drugs launch [Relation] cause [Effect] operating margins to improve based on the strong pricing power of the new drugs and the operating leverage the firm should attain as the new drugs reach critical mass",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, given the significant consolidation in the capital equipment industry, many recently proposed mergers and acquisitions have failed due to anti-competitive concerns.",
    "output": "[Cause] anti-competitive concerns [Relation] cause [Effect] many recently proposed mergers and acquisitions have failed",
    "gold": "[Cause] anti-competitive concerns [Relation] cause [Effect] many recently proposed mergers and acquisitions have failed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are raising our fair value estimate to $44 per share from $43 after incorporating 2020 results in line with our expectations and time-value appreciation.",
    "output": "[Cause] incorporating 2020 results in line with our expectations and time-value appreciation [Relation] cause [Effect] We are raising our fair value estimate to $44 per share from $43",
    "gold": "[Cause]  raising our fair value estimate [Relation] enable [Effect] results in line with our expectations and time-value appreciation",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After establishing itself as the SMB leader Shopify has been pushing more into the enterprise with Shopify Plus, which allows online stores to remain on the platform as their needs become more advanced.",
    "output": "[Cause] After establishing itself as the SMB leader Shopify has been pushing more into the enterprise with Shopify Plus [Relation] enable [Effect] online stores to remain on the platform as their needs become more advanced",
    "gold": "[Cause] After establishing itself as the SMB leader Shopify has been pushing more into the enterprise with Shopify Plus [Relation] cause [Effect] online stores to remain on the platform as their needs become more advanced",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the short-cycle nature of its business, visibility is low in comparison with the larger backlog other peers enjoy, though Rockwell's backlog grew 30% year over year in the fiscal second quarter and its order book was similarly strong.",
    "output": "[Cause] the short-cycle nature of its business [Relation] cause [Effect] visibility is low in comparison with the larger backlog other peers enjoy",
    "gold": "[Cause] the short-cycle nature of its business [Relation] cause [Effect] visibility is low in comparison with the larger backlog other peers enjoy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Steel operates on the high end of the industry cost curve, in part because its fleet of blast furnaces is older and less efficient than the furnaces employed by its peers.",
    "output": "[Cause] its fleet of blast furnaces is older and less efficient than the furnaces employed by its peers [Relation] cause [Effect] Steel operates on the high end of the industry cost curve",
    "gold": "[Cause] its fleet of blast furnaces is older and less efficient than the furnaces employed by its peers [Relation] cause [Effect] Steel operates on the high end of the industry cost curve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the yield side, we expect Carnival to see some pricing pressure to entice cruisers back onto the product after COVID-19 subsides (mitigated somewhat by a measured return of capacity).",
    "output": "[Cause] Carnival to see some pricing pressure [Relation] enable [Effect] entice cruisers back onto the product after COVID-19 subsides",
    "gold": "[Cause] Carnival to see some pricing pressure [Relation] cause [Effect] entice cruisers back onto the product after COVID-19 subsides",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's international operations do boost its long-term growth prospects a bit, but we believe Chubb's size will make it difficult to dramatically outstrip industry growth over time.",
    "output": "[Cause] The company's international operations [Relation] enable [Effect] boost its long-term growth prospects a bit",
    "gold": "[Cause] The company's international operations [Relation] enable [Effect]  boost its long-term growth prospects a bit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This will make the company more reliant on net interest income, which should benefit from rising interest rates as the company has developed a stronger deposit base.",
    "output": "[Cause] the company has developed a stronger deposit base [Relation] enable [Effect] the company more reliant on net interest income",
    "gold": "[Cause] the company has developed a stronger deposit base [Relation] cause [Effect] the company more reliant on net interest income",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, we view the uncertainty level as high partly due to the lack of clarity around the finalization of the glyphosate litigation with the over $10 billion settlement.",
    "output": "[Cause] the lack of clarity around the finalization of the glyphosate litigation with the over $10 billion settlement [Relation] cause [Effect] the uncertainty level as high",
    "gold": "[Cause] the lack of clarity around the finalization of the glyphosate litigation with the over $10 billion settlement [Relation] cause [Effect] the uncertainty level as high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Public clouds can precipitously augment network growth but enterprises face integration complexities among on-premises networks and private and public clouds.",
    "output": "[Cause] Public clouds [Relation] enable [Effect] precipitously augment network growth",
    "gold": "[Cause] Public clouds [Relation] cause [Effect] enterprises face integration complexities among on-premises networks and private and public clouds",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Public clouds can precipitously augment network growth but enterprises face integration complexities among on-premises networks and private and public clouds.",
    "output": "[Cause] Public clouds [Relation] enable [Effect] precipitously augment network growth",
    "gold": "[Cause] Public clouds [Relation] enable [Effect] precipitously augment network growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The coronavirus pandemic presents airlines with the sharpest demand shock in history, forcing airlines to reduce much of their capacity and the aircraft that are still flying are flying at low load factors.",
    "output": "[Cause] The coronavirus pandemic [Relation] cause [Effect] presents airlines with the sharpest demand shock in history",
    "gold": "[Cause]  presents airlines with the sharpest demand shock in history [Relation] cause [Effect] forcing airlines to reduce much of their capacity and the aircraft",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, lengthy FDA approval processes and the sophistication of the technology are tall barriers that deter new market entrants, though both General Electric and Siemens have received FDA approval for 3D systems.",
    "output": "[Cause] lengthy FDA approval processes and the sophistication of the technology [Relation] prevent [Effect] new market entrants",
    "gold": "[Cause] lengthy FDA approval processes and the sophistication of the technology [Relation] prevent [Effect] new market entrants",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Organic market share gains and consistent economic profits would provide evidence of a competitive edge gained via a cost advantage.",
    "output": "[Cause] Organic market share gains and consistent economic profits [Relation] enable [Effect] provide evidence of a competitive edge gained via a cost advantage",
    "gold": "[Cause] Organic market share gains and consistent economic profits [Relation] enable [Effect] provide evidence of a competitive edge gained via a cost advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These key opinion leaders can also get tipping from or sell merchandise to their fans, which can encourage them to share more Internet Content & Informationcontent on the Weibo platform.",
    "output": "[Cause] These key opinion leaders can also get tipping from or sell merchandise to their fans [Relation] enable [Effect] encourage them to share more Internet Content & Informationcontent on the Weibo platform",
    "gold": "[Cause] These key opinion leaders can also get tipping from or sell merchandise to their fans [Relation] cause [Effect] encourage them to share more Internet Content & Informationcontent on the Weibo platform",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Estimated net inflows of more than $25 billion during the June quarter were driven primarily by the funding of $17 billion of the firm's $46 billion institutional pipeline coming out of the March quarter as well as improved flows for its retail operations.",
    "output": "[Cause] the funding of $17 billion of the firm's $46 billion institutional pipeline coming out of the March quarter as well as improved flows for its retail operations [Relation] cause [Effect] Estimated net inflows of more than $25 billion during the June quarter",
    "gold": "[Cause] the funding of $17 billion of the firm's $46 billion institutional pipeline coming out of the March quarter as well as improved flows for its retail operations [Relation] cause [Effect] Estimated net inflows of more than $25 billion during the June quarter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Equity Residential has created significant shareholder value through development, but the increased competition for apartment assets combined with increasing construction costs is making accretive deals more difficult to find and underwrite.",
    "output": "[Cause] the increased competition for apartment assets combined with increasing construction costs [Relation] cause [Effect] making accretive deals more difficult to find and underwrite",
    "gold": "[Cause] the increased competition for apartment assets combined with increasing construction costs [Relation] enable [Effect] making accretive deals more difficult to find and underwrite",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Targa operates as a corporation instead of limited partnership, which brings certain advantages over limited partnerships in terms of broadening the shareholder base, allowing it to be represented in indexes, and reduced tax complexity as a 1099 issuer.",
    "output": "[Cause] Targa operates as a corporation instead of limited partnership [Relation] enable [Effect] brings certain advantages over limited partnerships in terms of broadening the shareholder base",
    "gold": "[Cause] Targa operates as a corporation instead of limited partnership [Relation] enable [Effect] brings certain advantages over limited partnerships in terms of broadening the shareholder base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Targa operates as a corporation instead of limited partnership, which brings certain advantages over limited partnerships in terms of broadening the shareholder base, allowing it to be represented in indexes, and reduced tax complexity as a 1099 issuer.",
    "output": "[Cause] Targa operates as a corporation instead of limited partnership [Relation] enable [Effect] it to be represented in indexes, and reduced tax complexity as a 1099 issuer",
    "gold": "[Cause] Targa operates as a corporation instead of limited partnership [Relation] enable [Effect] it to be represented in indexes, and reduced tax complexity as a 1099 issuer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Unsurprisingly, we expect LaCroix to be the standout performer, given the broad resonance of its products and the reality that most of its negative publicity (such as those stemming from lawsuits refuting the drink's \"\"\"\"all natural\"\"\"\" claim) has been shed.",
    "output": "[Cause] the broad resonance of its products and the reality that most of its negative publicity (such as those stemming from lawsuits refuting the drink's \"\"\"\"all natural\"\"\"\" claim) has been shed [Relation] cause [Effect] LaCroix to be the standout performer",
    "gold": "[Cause] the broad resonance of its products and the reality that most of its negative publicity (such as those stemming from lawsuits refuting the drink's \"\"\"\"all natural\"\"\"\" claim) has been shed [Relation] enable [Effect] LaCroix to be the standout performer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company is still exposed to risk from its legacy financial data assets as its ownership in Refinitiv will likely be exchanged for shares in the London Stock Exchange should the deal be approved by regulators.",
    "output": "[Cause] its ownership in Refinitiv will likely be exchanged for shares in the London Stock Exchange should the deal be approved by regulators [Relation] cause [Effect] The company is still exposed to risk from its legacy financial data assets",
    "gold": "[Cause] its ownership in Refinitiv will likely be exchanged for shares in the London Stock Exchange should the deal be approved by regulators [Relation] cause [Effect] The company is still exposed to risk from its legacy financial data assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Ingersoll-Rand has established a strong reputation for quality and reliability, we think it would be challenging for competitors to encroach on the firm's installed base.",
    "output": "[Cause] Ingersoll-Rand has established a strong reputation for quality and reliability [Relation] cause [Effect] we think it would be challenging for competitors to encroach on the firm's installed base",
    "gold": "[Cause] Ingersoll-Rand has established a strong reputation for quality and reliability [Relation] enable [Effect] we think it would be challenging for competitors to encroach on the firm's installed base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But we don't expect the firm will back down in its pursuit even once the concerns surrounding the pandemic subside, as its works to ensure recent wins with end-consumers prove lasting.",
    "output": "[Cause] its works to ensure recent wins with end-consumers prove lasting [Relation] cause [Effect] we don't expect the firm will back down in its pursuit even once the concerns surrounding the pandemic subside",
    "gold": "[Cause] its works to ensure recent wins with end-consumers prove lasting [Relation] cause [Effect] we don't expect the firm will back down in its pursuit even once the concerns surrounding the pandemic subside",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Imax has leveraged its format standards and technologies, including its projection systems and digital film conversion process, to capture over 50% market share within the premium large-format cinema marketplace.",
    "output": "[Cause] Imax has leveraged its format standards and technologies, including its projection systems and digital film conversion process [Relation] enable [Effect] capture over 50% market share within the premium large-format cinema marketplace",
    "gold": "[Cause] Imax has leveraged its format standards and technologies, including its projection systems and digital film conversion process [Relation] enable [Effect] capture over 50% market share within the premium large-format cinema marketplace",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Efficiency gains in the presalt reservoirs shortened well construction times and reduced the number of wells needed to fill FPSO capacity.",
    "output": "[Cause] Efficiency gains in the presalt reservoirs [Relation] cause [Effect] shortened well construction times and reduced the number of wells needed to fill FPSO capacity",
    "gold": "[Cause] Efficiency gains in the presalt reservoirs [Relation] cause [Effect] shortened well construction times and reduced the number of wells needed to fill FPSO capacity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through 2025, we assume organic revenue growth of 3% and margin improvement will help Centene increase earnings per share 8% compounded annually during that timeframe.",
    "output": "[Cause] organic revenue growth of 3% and margin improvement [Relation] enable [Effect] Centene increase earnings per share 8% compounded annually during that timeframe",
    "gold": "[Cause] organic revenue growth of 3% and margin improvement [Relation] enable [Effect] Centene increase earnings per share 8% compounded annually during that timeframe",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Integrated oil companies can achieve competitive advantages through upstream or downstream operations, but they best achieve competitive advantages when upstream and downstream assets are aligned, such that one segment can recapture the economic rents that the other segment is losing.",
    "output": "[Cause] they best achieve competitive advantages when upstream and downstream assets are aligned [Relation] enable [Effect] recapture the economic rents that the other segment is losing",
    "gold": "[Cause] upstream and downstream assets are aligned [Relation] enable [Effect] they best achieve competitive advantages",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The broadband business has 85 million customers but has seen market share declines over the past three years as China Mobile has aggressively entered this space with pricing well below both China Unicom and China Telecom.",
    "output": "[Cause] China Mobile has aggressively entered this space with pricing well below both China Unicom and China Telecom [Relation] cause [Effect] market share declines over the past three years",
    "gold": "[Cause] China Mobile has aggressively entered this space with pricing well below both China Unicom and China Telecom [Relation] enable [Effect] market share declines over the past three years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, due to temporary store closures during the pandemic, we forecast 84% e-commerce growth in 2020 and expect the segment will become Lululemon's largest source of operating profit for the first time.",
    "output": "[Cause] temporary store closures during the pandemic [Relation] cause [Effect] 84% e-commerce growth in 2020",
    "gold": "[Cause] temporary store closures during the pandemic [Relation] enable [Effect]  84% e-commerce growth in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, due to temporary store closures during the pandemic, we forecast 84% e-commerce growth in 2020 and expect the segment will become Lululemon's largest source of operating profit for the first time.",
    "output": "[Cause] temporary store closures during the pandemic [Relation] cause [Effect] 84% e-commerce growth in 2020",
    "gold": "[Cause] temporary store closures during the pandemic [Relation] enable [Effect] the segment will become Lululemon's largest source of operating profit for the first time",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The current negative interest rate environment obscures the benefits of Credit Suisse's very strong deposit franchise that provides it with ample surplus liquidity.",
    "output": "[Cause] The current negative interest rate environment [Relation] prevent [Effect] the benefits of Credit Suisse's very strong deposit franchise",
    "gold": "[Cause] The current negative interest rate environment [Relation] prevent [Effect] the benefits of Credit Suisse's very strong deposit franchise",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The current negative interest rate environment obscures the benefits of Credit Suisse's very strong deposit franchise that provides it with ample surplus liquidity.",
    "output": "[Cause] The current negative interest rate environment [Relation] prevent [Effect] the benefits of Credit Suisse's very strong deposit franchise",
    "gold": "[Cause] Credit Suisse's very strong deposit franchise [Relation] enable [Effect]  provides it with ample surplus liquidity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The Medicare for All scenario debated in the Democratic primaries called for the elimination of the private insurance industry, which would have threatened much of the company's operations.",
    "output": "[Cause] The Medicare for All scenario debated in the Democratic primaries called for the elimination of the private insurance industry [Relation] cause [Effect] threatened much of the company's operations",
    "gold": "[Cause] The Medicare for All scenario debated in the Democratic primaries called for the elimination of the private insurance industry [Relation] cause [Effect] threatened much of the company's operations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For FMC, most of its new products in the pipeline are herbicides and fungicides, which should result in a more balanced portfolio among the three primary types of crop protection chemicals as new products are commercialized over the next decade.",
    "output": "[Cause] most of its new products in the pipeline are herbicides and fungicides [Relation] cause [Effect] a more balanced portfolio among the three primary types of crop protection chemicals",
    "gold": "[Cause] most of its new products in the pipeline are herbicides and fungicides [Relation] cause [Effect] a more balanced portfolio among the three primary types of crop protection chemicals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For FMC, most of its new products in the pipeline are herbicides and fungicides, which should result in a more balanced portfolio among the three primary types of crop protection chemicals as new products are commercialized over the next decade.",
    "output": "[Cause] new products are commercialized over the next decade [Relation] cause [Effect] a more balanced portfolio among the three primary types of crop protection chemicals",
    "gold": "[Cause] new products are commercialized over the next decade [Relation] cause [Effect] a more balanced portfolio among the three primary types of crop protection chemicals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The material in its apparel is significantly more expensive than in traditional athletic shirts and pants, partly accounting for its relatively high pricing.",
    "output": "[Cause] The material in its apparel is significantly more expensive than in traditional athletic shirts and pants [Relation] cause [Effect] its relatively high pricing",
    "gold": "[Cause] its relatively high pricing [Relation] cause [Effect] The material in its apparel is significantly more expensive than in traditional athletic shirts and pants",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We consider fractionators to be higher-quality assets than natural gas and processing assets because of the more concentrated nature of the market.",
    "output": "[Cause] the more concentrated nature of the market [Relation] cause [Effect] fractionators to be higher-quality assets than natural gas and processing assets",
    "gold": "[Cause] the more concentrated nature of the market [Relation] cause [Effect] fractionators to be higher-quality assets than natural gas and processing assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Firms can clean up their operations in the field as much as possible by using technologies like electric fracking and reducing fuel use through smarter logistics.",
    "output": "[Cause] using technologies like electric fracking and reducing fuel use through smarter logistics [Relation] enable [Effect] Firms can clean up their operations in the field as much as possible",
    "gold": "[Cause] using technologies like electric fracking and reducing fuel use through smarter logistics [Relation] enable [Effect] Firms can clean up their operations in the field as much as possible",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the other side, via its rich collection of data and large user base, Google can offer the best return on investment for advertisers and build a growing network of advertising customers.",
    "output": "[Cause] its rich collection of data and large user base [Relation] enable [Effect] Google can offer the best return on investment for advertisers and build a growing network of advertising customers",
    "gold": "[Cause] its rich collection of data and large user base [Relation] enable [Effect] Google can offer the best return on investment for advertisers and build a growing network of advertising customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By 2016, the market had grown considerably and increasingly competitive, with new entrants in the land grab as medical practices and hospitals raced to convert paper records to maximize incentive payments.",
    "output": "[Cause] medical practices and hospitals raced to convert paper records to maximize incentive payments [Relation] cause [Effect] the market had grown considerably and increasingly competitive, with new entrants in the land grab",
    "gold": "[Cause] new entrants in the land grab as medical practices and hospitals raced to convert paper records [Relation] enable [Effect]  maximize incentive payments",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, the trading desk in Bunge's grain merchandising operations puts the firm at risk for large profit swings depending on trading results.",
    "output": "[Cause] the trading desk in Bunge's grain merchandising operations [Relation] cause [Effect] the firm at risk for large profit swings depending on trading results",
    "gold": "[Cause]  the trading desk in Bunge's grain merchandising operations [Relation] enable [Effect] the firm at risk for large profit swings depending on trading results",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result of shifting the majority of its production to Hungary and China, Coloplast now enjoys a gross margin that beats that of rival ConvaTec by 1,600 basis points.",
    "output": "[Cause] shifting the majority of its production to Hungary and China [Relation] cause [Effect] Coloplast now enjoys a gross margin that beats that of rival ConvaTec by 1,600 basis points",
    "gold": "[Cause] shifting the majority of its production to Hungary and China [Relation] cause [Effect] Coloplast now enjoys a gross margin that beats that of rival ConvaTec by 1,600 basis points",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, with the bursting of the China boom, we think it's unlikely BHP will generate excess returns on aggregate from its portfolio, once past impairments and write-downs are added back to the invested capital base.",
    "output": "[Cause] past impairments and write-downs are added back to the invested capital base [Relation] prevent [Effect] BHP will generate excess returns on aggregate from its portfolio",
    "gold": "[Cause] past impairments and write-downs are added back to the invested capital base [Relation] prevent [Effect] BHP will generate excess returns on aggregate from its portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "When commercial electric vehicles ultimately account for a sizable fraction of the North American commercial fleet, both the lack of aftermarket revenues and reduced frequency of customer interactions will disrupt the entire diesel ecosystem.",
    "output": "[Cause] commercial electric vehicles ultimately account for a sizable fraction of the North American commercial fleet [Relation] cause [Effect] both the lack of aftermarket revenues and reduced frequency of customer interactions will disrupt the entire diesel ecosystem",
    "gold": "[Cause] the lack of aftermarket revenues and reduced frequency of customer interactions [Relation] cause [Effect] disrupt the entire diesel ecosystem",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Together, we think the firm's cost advantages, underpinned by closer proximity to customers and its scale, facilitate market share gains by allowing the firm to offer customers similar products and services at a lower price, or offer customers superior products and services at a comparable price.",
    "output": "[Cause] the firm's cost advantages, underpinned by closer proximity to customers and its scale [Relation] enable [Effect] market share gains by allowing the firm to offer customers similar products and services at a lower price, or offer customers superior products and services at a comparable price",
    "gold": "[Cause]  allowing the firm to offer customers similar products and services at a lower price [Relation] cause [Effect]  offer customers superior products and services at a comparable price",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company uses a few silicon merchant vendors in its hardware, which is now a strategy employed by Arista's competition as well, so using design expertise to create novel software and hardware features strengthens its position.",
    "output": "[Cause] The company uses a few silicon merchant vendors in its hardware [Relation] cause [Effect] using design expertise to create novel software and hardware features strengthens its position",
    "gold": "[Cause] The company uses a few silicon merchant vendors in its hardware [Relation] cause [Effect] using design expertise to create novel software and hardware features strengthens its position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company uses a few silicon merchant vendors in its hardware, which is now a strategy employed by Arista's competition as well, so using design expertise to create novel software and hardware features strengthens its position.",
    "output": "[Cause] using design expertise to create novel software and hardware features [Relation] enable [Effect] strengthens its position",
    "gold": "[Cause] using design expertise to create novel software and hardware features [Relation] enable [Effect] strengthens its position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the operating leverage on organic revenue, we see segment operating margin reaching 73% by 2024, from 69% in 2019.",
    "output": "[Cause] the operating leverage on organic revenue [Relation] cause [Effect] segment operating margin reaching 73% by 2024, from 69% in 2019",
    "gold": "[Cause] the operating leverage on organic revenue [Relation] cause [Effect] segment operating margin reaching 73% by 2024, from 69% in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The trucking cycle can swing year to year from tight capacity to overcapacity based on global economic activity, leading to a pause in new truck orders.",
    "output": "[Cause] The trucking cycle can swing year to year from tight capacity to overcapacity based on global economic activity [Relation] cause [Effect] a pause in new truck orders",
    "gold": "[Cause] The trucking cycle can swing year to year from tight capacity to overcapacity based on global economic activity [Relation] cause [Effect] a pause in new truck orders",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, the firm has significantly reshaped its portfolio inorganically, shedding non-branded or noncore businesses and acquiring brands that enhance the firm's growth and/or profit margins. As a result, in recent years, sales have inflected from declines to growth, and from market share losses to modest gains.",
    "output": "[Cause] the firm has significantly reshaped its portfolio inorganically, shedding non-branded or noncore businesses and acquiring brands that enhance the firm's growth and/or profit margins [Relation] cause [Effect] sales have inflected from declines to growth, and from market share losses to modest gains",
    "gold": "[Cause] the firm has significantly reshaped its portfolio inorganically, shedding non-branded or noncore businesses and acquiring brands that enhance the firm's growth and/or profit margins [Relation] cause [Effect]  sales have inflected from declines to growth, and from market share losses to modest gains",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Bytedance's mobile user time spent share increased from 3.9% in June 2017 to 12.9% in March 2020 at the expense of Tencent, which declined to 43.2% in March 2020 from 54.3%, mainly attributed to the rise of short videos.",
    "output": "[Cause] the rise of short videos [Relation] cause [Effect] Bytedance's mobile user time spent share increased from 3.9% in June 2017 to 12.9% in March 2020 at the expense of Tencent, which declined to 43.2% in March 2020 from 54.3%",
    "gold": "[Cause] the rise of short videos [Relation] cause [Effect] Bytedance's mobile user time spent share increased from 3.9% in June 2017 to 12.9% in March 2020 at the expense of Tencent, which declined to 43.2% in March 2020 from 54.3%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, key patents are beginning to expire in Europe, and next-generation products could struggle to provide sufficient differentiation for reimbursement in all key markets.",
    "output": "[Cause] key patents are beginning to expire in Europe [Relation] cause [Effect] next-generation products could struggle to provide sufficient differentiation for reimbursement in all key markets",
    "gold": "[Cause] key patents are beginning to expire in Europe [Relation] cause [Effect]  next-generation products could struggle to provide sufficient differentiation for reimbursement in all key markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sans such issues, we think dealers face significant inertia with incumbent brands because the dealers are closely involved with the brand's marketing, sales, and logistics functions, and a switch would likely prove to be quite disruptive and could result in out-of-pocket costs to restructure the showroom and retrain employees.",
    "output": "[Cause] the dealers are closely involved with the brand's marketing, sales, and logistics functions [Relation] cause [Effect] dealers face significant inertia with incumbent brands",
    "gold": "[Cause] the dealers are closely involved with the brand's marketing, sales, and logistics functions [Relation] cause [Effect]  dealers face significant inertia with incumbent brands",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sans such issues, we think dealers face significant inertia with incumbent brands because the dealers are closely involved with the brand's marketing, sales, and logistics functions, and a switch would likely prove to be quite disruptive and could result in out-of-pocket costs to restructure the showroom and retrain employees.",
    "output": "[Cause] a switch would likely prove to be quite disruptive [Relation] cause [Effect] out-of-pocket costs to restructure the showroom and retrain employees",
    "gold": "[Cause] a switch would likely prove to be quite disruptive [Relation] cause [Effect]  out-of-pocket costs to restructure the showroom and retrain employees",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's mixed results over the past several quarters have been tainted by its lack of synergies among its businesses and realignment in segment reporting.",
    "output": "[Cause] its lack of synergies among its businesses and realignment in segment reporting [Relation] cause [Effect] The company's mixed results over the past several quarters have been tainted",
    "gold": "[Cause]  its lack of synergies among its businesses and realignment in segment reporting [Relation] cause [Effect] The company's mixed results over the past several quarters have been tainted",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Meanwhile, the company's business model, which doesn't include a significant capital markets segment, is distinguishable from other large global investment banks, as it has less potential for conflicts of interest with clients.",
    "output": "[Cause] it has less potential for conflicts of interest with clients [Relation] cause [Effect] the company's business model, which doesn't include a significant capital markets segment, is distinguishable from other large global investment banks",
    "gold": "[Cause] it has less potential for conflicts of interest with clients [Relation] cause [Effect] the company's business model, which doesn't include a significant capital markets segment, is distinguishable from other large global investment banks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the surprisingly good phase 2 data for Alzheimer's drug donanemab could offer more upside given the FDA appears to have a lower threshold for accelerated approval in this disease setting.",
    "output": "[Cause] the FDA appears to have a lower threshold for accelerated approval in this disease setting [Relation] cause [Effect] the surprisingly good phase 2 data for Alzheimer's drug donanemab could offer more upside",
    "gold": "[Cause] the FDA appears to have a lower threshold for accelerated approval in this disease setting [Relation] cause [Effect] the surprisingly good phase 2 data for Alzheimer's drug donanemab could offer more upside",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the Kors label, which is heavily dependent on women's handbags, lacks the differentiated product and prestige necessary for sustainable premium pricing in its highly competitive categories.",
    "output": "[Cause] the Kors label, which is heavily dependent on women's handbags, lacks the differentiated product and prestige [Relation] prevent [Effect] sustainable premium pricing in its highly competitive categories",
    "gold": "[Cause] the Kors label, which is heavily dependent on women's handbags, lacks the differentiated product and prestige [Relation] prevent [Effect]  sustainable premium pricing in its highly competitive categories",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We had previously assigned Fluor an extreme uncertainty rating as we were concerned about the risk of cost overruns on fixed-price contracts driven by coronavirus-related delays.",
    "output": "[Cause] we were concerned about the risk of cost overruns on fixed-price contracts driven by coronavirus-related delays [Relation] cause [Effect] We had previously assigned Fluor an extreme uncertainty rating",
    "gold": "[Cause] we were concerned about the risk of cost overruns on fixed-price contracts driven by coronavirus-related delays [Relation] enable [Effect] We had previously assigned Fluor an extreme uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the firm has a solid competitive position in the country, combining a solid wireless business and strong fixed-line network, but economic weakness and the market's structure have limited returns on capital.",
    "output": "[Cause] economic weakness and the market's structure [Relation] prevent [Effect] returns on capital",
    "gold": "[Cause] economic weakness and the market's structure [Relation] prevent [Effect] returns on capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Orange might have an advantage in deploying its cybersecurity, Internet of Things, and cloud offerings over smaller peers since large accounts often prefer integrated solutions for their global operations.",
    "output": "[Cause] large accounts often prefer integrated solutions for their global operations [Relation] cause [Effect] Orange might have an advantage in deploying its cybersecurity, Internet of Things, and cloud offerings over smaller peers",
    "gold": "[Cause] large accounts often prefer integrated solutions for their global operations [Relation] cause [Effect] Orange might have an advantage in deploying its cybersecurity, Internet of Things, and cloud offerings over smaller peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We now expect a falling rate environment, which would move the denominator of the efficiency ratio against Zions, but we still think the bank can achieve much improved efficiency over the longer term.",
    "output": "[Cause] a falling rate environment [Relation] enable [Effect] move the denominator of the efficiency ratio against Zions",
    "gold": "[Cause] a falling rate environment [Relation] enable [Effect] move the denominator of the efficiency ratio against Zions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We eventually see additional supply bringing Duke Realty's returns to the cost of capital, since little prohibits new entrants to this market.",
    "output": "[Cause] little prohibits new entrants to this market [Relation] cause [Effect] additional supply bringing Duke Realty's returns to the cost of capital",
    "gold": "[Cause] additional supply [Relation] enable [Effect] Duke Realty's returns to the cost of capital",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Due to recent strength in natural gas prices and growth in the region served by Questar, we expect Dominion will find another buyer at a price similar to our estimate of roughly $2 billion including debt.",
    "output": "[Cause] recent strength in natural gas prices and growth in the region served by Questar [Relation] cause [Effect] Dominion will find another buyer at a price similar to our estimate of roughly $2 billion including debt",
    "gold": "[Cause]  recent strength in natural gas prices and growth in the region served by Questar [Relation] cause [Effect] Dominion will find another buyer at a price similar to our estimate of roughly $2 billion including debt",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As ICEs become more electrified, and EVs take up a larger share of the global fleet, Amphenol's average content per vehicle increases.",
    "output": "[Cause] ICEs become more electrified, and EVs take up a larger share of the global fleet [Relation] cause [Effect] Amphenol's average content per vehicle increases",
    "gold": "[Cause] ICEs become more electrified, and EVs take up a larger share of the global fleet [Relation] cause [Effect] Amphenol's average content per vehicle increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Supplying a fast turning product is particularly germane to the brewer-wholesaler relationship in craft beer, owing to the product's notably finite shelf life and the gravity of product freshness as it relates to consumer preferences.",
    "output": "[Cause] the product's notably finite shelf life and the gravity of product freshness as it relates to consumer preferences [Relation] cause [Effect] Supplying a fast turning product is particularly germane to the brewer-wholesaler relationship in craft beer",
    "gold": "[Cause] consumer preferences [Relation] enable [Effect] the gravity of product freshness",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We surmise new product introductions will attempt to elevate the brand's goodwill with heritage products while tactically reaching a wider user base than in the past through adjacent product introductions.",
    "output": "[Cause] new product introductions [Relation] enable [Effect] elevate the brand's goodwill with heritage products",
    "gold": "[Cause] new product introductions [Relation] enable [Effect] elevate the brand's goodwill with heritage products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We surmise new product introductions will attempt to elevate the brand's goodwill with heritage products while tactically reaching a wider user base than in the past through adjacent product introductions.",
    "output": "[Cause] adjacent product introductions [Relation] enable [Effect] tactically reaching a wider user base than in the past",
    "gold": "[Cause] adjacent product introductions [Relation] enable [Effect] tactically reaching a wider user base than in the past",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Within its core intermodal business, Hunt's large network of shippers and long-standing partnerships with major rail carriers reinforce a compelling value proposition and generate healthy barriers to entry because duplication by small providers with fewer resources would prove difficult.",
    "output": "[Cause] duplication by small providers with fewer resources would prove difficult [Relation] cause [Effect] Hunt's large network of shippers and long-standing partnerships with major rail carriers reinforce a compelling value proposition and generate healthy barriers to entry",
    "gold": "[Cause] duplication by small providers with fewer resources would prove difficult [Relation] cause [Effect]  Hunt's large network of shippers and long-standing partnerships with major rail carriers reinforce a compelling value proposition and generate healthy barriers to entry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Considering how the clinical data thus far has been so mixed, we are not wholly confident the results will be favorable to LivaNova.",
    "output": "[Cause] how the clinical data thus far has been so mixed [Relation] cause [Effect] we are not wholly confident the results will be favorable to LivaNova",
    "gold": "[Cause] how the clinical data thus far has been so mixed [Relation] cause [Effect] we are not wholly confident the results will be favorable to LivaNova",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It also announced plans to cut $400 million in expenses, causing us to lift our 10-year average operating margin to 4.9% from 4.4%.",
    "output": "[Cause] It also announced plans to cut $400 million in expenses [Relation] cause [Effect] us to lift our 10-year average operating margin to 4.9% from 4.4%",
    "gold": "[Cause] It also announced plans to cut $400 million in expenses [Relation] cause [Effect] us to lift our 10-year average operating margin to 4.9% from 4.4%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are also forecasting some operating margin expansion, as management is able to drive leverage from more market segments and push Amphenol's already market leading margins slightly higher.",
    "output": "[Cause] management is able to drive leverage from more market segments and push Amphenol's already market leading margins slightly higher [Relation] cause [Effect] some operating margin expansion",
    "gold": "[Cause]  management is able to drive leverage from more market segments and push Amphenol's already market leading margins slightly higher [Relation] cause [Effect] some operating margin expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At year-end, around 3,900 of the company's 13,500 employees were covered by collective agreements, which could result in work stoppages if work agreements cannot be reached.",
    "output": "[Cause] work agreements cannot be reached [Relation] cause [Effect] work stoppages",
    "gold": "[Cause] work agreements cannot be reached [Relation] cause [Effect]  work stoppages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cullen/Frost is not large enough to be considered a global systemically important bank and therefore avoids some of the more onerous regulatory capital requirements.",
    "output": "[Cause] Cullen/Frost is not large enough to be considered a global systemically important bank [Relation] prevent [Effect] some of the more onerous regulatory capital requirements",
    "gold": "[Cause] Cullen/Frost is not large enough to be considered a global systemically important bank [Relation] prevent [Effect]  some of the more onerous regulatory capital requirements",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Currently, the firm is diversifying its manufacturing base and R&D staff geographically to rely less on Chinese manufacturing and talent.",
    "output": "[Cause] the firm is diversifying its manufacturing base and R&D staff geographically [Relation] enable [Effect] rely less on Chinese manufacturing and talent",
    "gold": "[Cause] rely less on Chinese manufacturing and talent [Relation] enable [Effect] diversifying its manufacturing base and R&D staff geographically",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Currently, the firm is diversifying its manufacturing base and R&D staff geographically to rely less on Chinese manufacturing and talent.",
    "output": "[Cause] rely less on Chinese manufacturing and talent [Relation] cause [Effect] the firm is diversifying its manufacturing base and R&D staff geographically",
    "gold": "[Cause] rely less on Chinese manufacturing and talent [Relation] cause [Effect] the firm is diversifying its manufacturing base and R&D staff geographically",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over our explicit forecast, we expect gross margins to improve by around 340 basis points as the company gains scale in its expansion of its 3DExperience customers and as low-gross-margin servicing revenue decreases.",
    "output": "[Cause] the company gains scale in its expansion of its 3DExperience customers and as low-gross-margin servicing revenue decreases [Relation] cause [Effect] gross margins to improve by around 340 basis points",
    "gold": "[Cause] the company gains scale in its expansion of its 3DExperience customers and as low-gross-margin servicing revenue decreases [Relation] cause [Effect] gross margins to improve by around 340 basis points",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Allegion's operating margin will moderate in 2021 due to faster growth from lower-margin residential products and cost inflation.",
    "output": "[Cause] faster growth from lower-margin residential products and cost inflation [Relation] cause [Effect] Allegion's operating margin will moderate in 2021",
    "gold": "[Cause]  Allegion's operating margin will moderate in 2021 [Relation] cause [Effect]  faster growth from lower-margin residential products and cost inflation",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Once the crisis abates, we expect some of these short-term tailwinds to subside, causing occupancy and rental growth to slow down.",
    "output": "[Cause] the crisis abates [Relation] cause [Effect] some of these short-term tailwinds to subside",
    "gold": "[Cause] the crisis abates [Relation] enable [Effect] some of these short-term tailwinds to subside",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Once the crisis abates, we expect some of these short-term tailwinds to subside, causing occupancy and rental growth to slow down.",
    "output": "[Cause] some of these short-term tailwinds to subside [Relation] cause [Effect] occupancy and rental growth to slow down",
    "gold": "[Cause] some of these short-term tailwinds to subside [Relation] cause [Effect] occupancy and rental growth to slow down",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "COVID-19 was a headwind to global travel demand in 2020, but Choice was able to outperform industry demand, given that 90% of the company's hotels are in drive-to, nonurban locations, which have been a preferred method of travel during the pandemic.",
    "output": "[Cause] 90% of the company's hotels are in drive-to, nonurban locations [Relation] enable [Effect] Choice was able to outperform industry demand",
    "gold": "[Cause]  90% of the company's hotels are in drive-to, nonurban locations [Relation] cause [Effect] Choice was able to outperform industry demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While PTC's newly acquired mid-market SaaS CAD software, Onshape, is within the company's growth segment, we think Internet of Things will see better success as entering the mid-market will be a tough task.",
    "output": "[Cause] entering the mid-market will be a tough task [Relation] cause [Effect] Internet of Things will see better success",
    "gold": "[Cause] entering the mid-market will be a tough task [Relation] cause [Effect] Internet of Things will see better success",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the cost-of-service side, we expect the satellite radio segment to expand gross margins to 63% in 2024 from 61% in 2019 as it gains leverage on its billing, programming, and transmission costs.",
    "output": "[Cause] it gains leverage on its billing, programming, and transmission costs [Relation] cause [Effect] the satellite radio segment to expand gross margins to 63% in 2024 from 61% in 2019",
    "gold": "[Cause]  it gains leverage on its billing, programming, and transmission costs [Relation] enable [Effect]  the satellite radio segment to expand gross margins to 63% in 2024 from 61% in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, intense competition wiped out the excess profit that was attributable to Posco's leading position on the steelmaking cost curve.",
    "output": "[Cause] intense competition [Relation] cause [Effect] wiped out the excess profit that was attributable to Posco's leading position on the steelmaking cost curve",
    "gold": "[Cause] intense competition [Relation] cause [Effect] wiped out the excess profit that was attributable to Posco's leading position on the steelmaking cost curve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the COVID-19 pandemic will likely pressure near-term results of all Canadian telecom firms, we expect Rogers to remain an industry leader.",
    "output": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] pressure near-term results of all Canadian telecom firms",
    "gold": "[Cause] the COVID-19 pandemic will likely pressure near-term results of all Canadian telecom firms [Relation] cause [Effect] Rogers to remain an industry leader.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Samsung's smartphone background and ability to capaciously spend on research and development have made its equipment a viable alternative for CSPs, and we believe its presence will exacerbate pricing competition.",
    "output": "[Cause] Samsung's smartphone background and ability to capaciously spend on research and development [Relation] enable [Effect] its equipment a viable alternative for CSPs",
    "gold": "[Cause] Samsung's smartphone background and ability to capaciously spend on research and development [Relation] enable [Effect] its equipment a viable alternative for CSPs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Samsung's smartphone background and ability to capaciously spend on research and development have made its equipment a viable alternative for CSPs, and we believe its presence will exacerbate pricing competition.",
    "output": "[Cause] its equipment a viable alternative for CSPs [Relation] cause [Effect] its presence will exacerbate pricing competition",
    "gold": "[Cause] its presence [Relation] cause [Effect] exacerbate pricing competition",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company continues to add new features and now offers InsuranceSuite as a cloud-based product. This is partly driven by the clientele of the insurance companies that are increasingly demanding an Amazon-like policy buying experience and apps for filing claims, which legacy systems are not designed to do.",
    "output": "[Cause] The company continues to add new features and now offers InsuranceSuite as a cloud-based product [Relation] cause [Effect] driven by the clientele of the insurance companies that are increasingly demanding an Amazon-like policy buying experience and apps for filing claims, which legacy systems are not designed to do",
    "gold": "[Cause] This is partly driven by the clientele of the insurance companies that are increasingly demanding an Amazon-like policy buying experience and apps for filing claims, which legacy systems are not designed to do [Relation] enable [Effect] The company continues to add new features and now offers InsuranceSuite as a cloud-based product",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Amid fragmentation in consumer tastes as well as in retail and marketing channels, along with lower barriers to entry for startups, most consumer staples multinationals are fighting strong organic growth headwinds, and many are cutting costs in order to spend to drive growth.",
    "output": "[Cause] Amid fragmentation in consumer tastes as well as in retail and marketing channels, along with lower barriers to entry for startups [Relation] cause [Effect] most consumer staples multinationals are fighting strong organic growth headwinds, and many are cutting costs in order to spend to drive growth",
    "gold": "[Cause] along with lower barriers to entry for startups, most consumer staples multinationals are fighting strong organic growth headwinds, and many are cutting costs in order to spend to drive growth [Relation] cause [Effect] Amid fragmentation in consumer tastes as well as in retail and marketing channels",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This risk is somewhat mitigated by Graco's large installed base and roughly 40% recurring revenue driven by aftermarket parts and accessories sales.",
    "output": "[Cause] Graco's large installed base and roughly 40% recurring revenue driven by aftermarket parts and accessories sales [Relation] cause [Effect] This risk is somewhat mitigated",
    "gold": "[Cause] Graco's large installed base and roughly 40% recurring revenue driven by aftermarket parts and accessories sales [Relation] cause [Effect] This risk is somewhat mitigated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Well-known examples of AIDC technology include bar codes, QR codes, RFID, and biometric scanning; the value that AIDC adds comes from integrating these technologies into workflows to optimize efficiency.",
    "output": "[Cause] integrating these technologies into workflows to optimize efficiency [Relation] enable [Effect] the value that AIDC adds",
    "gold": "[Cause] integrating these technologies into workflows [Relation] enable [Effect] to optimize efficiency",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Ormat's international operations expose shareholders to additional risks, such as political uncertainty, credit risk, foreign currency volatility, and geological instability at construction sites.",
    "output": "[Cause] Ormat's international operations [Relation] cause [Effect] expose shareholders to additional risks",
    "gold": "[Cause] Ormat's international operations [Relation] enable [Effect] expose shareholders to additional risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At this point, we believe Allscripts has struggled to mold its offerings into a coherent suite of products and is unlikely to lure new clients from its larger competitors, which dominate the rest of the market.",
    "output": "[Cause] Allscripts has struggled to mold its offerings into a coherent suite of products [Relation] cause [Effect] unlikely to lure new clients from its larger competitors, which dominate the rest of the market",
    "gold": "[Cause] Allscripts has struggled to mold its offerings into a coherent suite of products and is unlikely to lure new clients from its larger competitors [Relation] enable [Effect]  dominate the rest of the market.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As result of the network effect, the firm's revenue growth has become increasingly driven by its platform segment which generates revenue from advertising, platform and distribution fees, and licensing.",
    "output": "[Cause] the network effect [Relation] cause [Effect] the firm's revenue growth has become increasingly driven by its platform segment which generates revenue from advertising, platform and distribution fees, and licensing",
    "gold": "[Cause] the network effect [Relation] cause [Effect] the firm's revenue growth has become increasingly driven by its platform segment which generates revenue from advertising, platform and distribution fees, and licensing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that the firm indicated cash burn was around $160 million per month, the pro-forma $2.3 billion in cash of Norwegian's balance sheet in September buys it more than a year of operating time to facilitate a tactical re-entry to operating.",
    "output": "[Cause] the firm indicated cash burn was around $160 million per month [Relation] cause [Effect] the pro-forma $2.3 billion in cash of Norwegian's balance sheet in September buys it more than a year of operating time",
    "gold": "[Cause]  the firm indicated cash burn was around $160 million per month [Relation] cause [Effect] the pro-forma $2.3 billion in cash of Norwegian's balance sheet in September buys it more than a year of operating time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that the firm indicated cash burn was around $160 million per month, the pro-forma $2.3 billion in cash of Norwegian's balance sheet in September buys it more than a year of operating time to facilitate a tactical re-entry to operating.",
    "output": "[Cause] the pro-forma $2.3 billion in cash of Norwegian's balance sheet in September buys it more than a year of operating time [Relation] enable [Effect] facilitate a tactical re-entry to operating",
    "gold": "[Cause] the pro-forma $2.3 billion in cash of Norwegian's balance sheet in September buys it more than a year of operating time [Relation] enable [Effect]  facilitate a tactical re-entry to operating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, Fastly's best opportunity is to further build on its approach, so rather than simply growing market share in the traditional CDN market, it can perform more of the functions that customers currently rely on at centralized servers.",
    "output": "[Cause] Fastly's best opportunity is to further build on its approach [Relation] enable [Effect] perform more of the functions that customers currently rely on at centralized servers",
    "gold": "[Cause] perform more of the functions that customers currently rely on at centralized servers [Relation] enable [Effect] Fastly's best opportunity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think Baxter shed its riskier assets through the Baxalta spin-off, leaving a well-diversified company that participates in markets with limited risk of significant disruption.",
    "output": "[Cause] the Baxalta spin-off [Relation] cause [Effect] Baxter shed its riskier assets",
    "gold": "[Cause] the Baxalta spin-off [Relation] enable [Effect] Baxter shed its riskier assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Coca-Cola FEMSA will be able to recoup some revenue from alcohol distribution in Brazil (for example, the firm is currently trialing multiple spirits partnerships), but still expect it to lose the preponderance of Heineken revenue, leading to meaningful regional sales declines in 2022 and 2023.",
    "output": "[Cause] Coca-Cola FEMSA [Relation] enable [Effect] recoup some revenue from alcohol distribution in Brazil",
    "gold": "[Cause] the firm is currently trialing multiple spirits partnerships [Relation] enable [Effect] Coca-Cola FEMSA will be able to recoup some revenue from alcohol distribution in Brazil",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think Coca-Cola FEMSA will be able to recoup some revenue from alcohol distribution in Brazil (for example, the firm is currently trialing multiple spirits partnerships), but still expect it to lose the preponderance of Heineken revenue, leading to meaningful regional sales declines in 2022 and 2023.",
    "output": "[Cause] lose the preponderance of Heineken revenue [Relation] cause [Effect] meaningful regional sales declines in 2022 and 2023",
    "gold": "[Cause] lose the preponderance of Heineken revenue [Relation] cause [Effect] meaningful regional sales declines in 2022 and 2023",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also forecast operating margin expansion through increasing expense leverage (particularly in the marketing and general & administrative expense line items), contribution from AWS, and accelerating third-party unit sales.",
    "output": "[Cause] increasing expense leverage (particularly in the marketing and general & administrative expense line items), contribution from AWS, and accelerating third-party unit sales [Relation] enable [Effect] operating margin expansion",
    "gold": "[Cause] increasing expense leverage (particularly in the marketing and general & administrative expense line items), contribution from AWS, and accelerating third-party unit sales [Relation] cause [Effect] operating margin expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After a market share land-grab in 2020, the closure of many independent restaurants will likely see competitive pressure intensify as better capitalized, competitively advantaged operators are forced to compete for customers.",
    "output": "[Cause] better capitalized, competitively advantaged operators are forced to compete for customers [Relation] cause [Effect] the closure of many independent restaurants will likely see competitive pressure intensify",
    "gold": "[Cause]  better capitalized, competitively advantaged operators are forced to compete for customers [Relation] cause [Effect]  the closure of many independent restaurants will likely see competitive pressure intensify",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of its exclusive clientele of high-net-worth individuals, we believe the company will show resiliency during periods of economic uncertainty, such is currently the case with the coronavirus pandemic.",
    "output": "[Cause] its exclusive clientele of high-net-worth individuals [Relation] cause [Effect] the company will show resiliency during periods of economic uncertainty",
    "gold": "[Cause] its exclusive clientele of high-net-worth individuals [Relation] cause [Effect] the company will show resiliency during periods of economic uncertainty",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to its fabless model requiring low capital expenditures compared with other chipmakers, MPS is able to earn high returns on a small invested capital base.",
    "output": "[Cause] its fabless model requiring low capital expenditures compared with other chipmakers [Relation] cause [Effect] MPS is able to earn high returns on a small invested capital base",
    "gold": "[Cause] its fabless model requiring low capital expenditures compared with other chipmakers [Relation] cause [Effect] MPS is able to earn high returns on a small invested capital base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further the increased transparency and continued consolidation of retail pharmacies could impact the company's ability to negotiate lower pricing which is the cornerstone of services rendered by the company.",
    "output": "[Cause] the increased transparency and continued consolidation of retail pharmacies [Relation] cause [Effect] impact the company's ability to negotiate lower pricing",
    "gold": "[Cause]  the increased transparency and continued consolidation of retail pharmacies [Relation] cause [Effect]  impact the company's ability to negotiate lower pricing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we remain optimistic about the sector's longer-term prospects given that the industry has started to recover from the impact of the virus, supply will likely fall below the historical average in the coming years, and the demographic boon will create a massive spike in demand for senior housing.",
    "output": "[Cause] the demographic boon [Relation] cause [Effect] create a massive spike in demand for senior housing",
    "gold": "[Cause] the industry has started to recover from the impact of the virus [Relation] cause [Effect] supply will likely fall below the historical average in the coming years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "NAPA (Genuine Parts' primary auto retail brand) augments its relationships through its technician and shop owner training programs and technology solutions, which we believe deepen the firm's engagement with professional clients and strengthen its brand equity.",
    "output": "[Cause] NAPA (Genuine Parts' primary auto retail brand) augments its relationships through its technician and shop owner training programs and technology solutions [Relation] enable [Effect] deepen the firm's engagement with professional clients and strengthen its brand equity",
    "gold": "[Cause] NAPA (Genuine Parts' primary auto retail brand) augments its relationships through its technician and shop owner training programs and technology solutions [Relation] enable [Effect] deepen the firm's engagement with professional clients and strengthen its brand equity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We tend to view pipelines as wide-moat assets because of their efficient scale. This enables PetroChina to transport oil and gas at the lowest total cost and capture additional economic rents in the supply chain.",
    "output": "[Cause] We tend to view pipelines as wide-moat assets because of their efficient scale [Relation] enable [Effect] PetroChina to transport oil and gas at the lowest total cost and capture additional economic rents in the supply chain",
    "gold": "[Cause] We tend to view pipelines as wide-moat assets because of their efficient scale [Relation] enable [Effect] PetroChina to transport oil and gas at the lowest total cost and capture additional economic rents in the supply chain",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we expect the medical market to shrink as consumers turn to the recreational market, we forecast more than 10% average annual growth for the entire Canadian market through 2030, driven by the conversion of black-market consumers into the legal market and new cannabis consumers.",
    "output": "[Cause] consumers turn to the recreational market [Relation] cause [Effect] the medical market to shrink",
    "gold": "[Cause] consumers turn to the recreational market [Relation] cause [Effect]  the medical market to shrink",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we expect the medical market to shrink as consumers turn to the recreational market, we forecast more than 10% average annual growth for the entire Canadian market through 2030, driven by the conversion of black-market consumers into the legal market and new cannabis consumers.",
    "output": "[Cause] the conversion of black-market consumers into the legal market and new cannabis consumers [Relation] cause [Effect] more than 10% average annual growth for the entire Canadian market through 2030",
    "gold": "[Cause] the conversion of black-market consumers into the legal market and new cannabis consumers [Relation] enable [Effect] more than 10% average annual growth for the entire Canadian market through 2030",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The introduction of new network technologies represents intrusion risk, as the newly installed elements will be unfamiliar to users, and is also time-consuming and costly.",
    "output": "[Cause] the newly installed elements will be unfamiliar to users, and is also time-consuming and costly [Relation] cause [Effect] The introduction of new network technologies represents intrusion risk",
    "gold": "[Cause] the newly installed elements will be unfamiliar to users, and is also time-consuming and costly [Relation] cause [Effect] The introduction of new network technologies represents intrusion risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Meanwhile, the recent adoption of EUV lithography in high-volume manufacturing at logic and foundry customers could negatively affect Lam's etch and deposition sales related to multiple patterning going forward.",
    "output": "[Cause] the recent adoption of EUV lithography in high-volume manufacturing at logic and foundry customers [Relation] prevent [Effect] Lam's etch and deposition sales related to multiple patterning going forward",
    "gold": "[Cause] the recent adoption of EUV lithography in high-volume manufacturing at logic and foundry customer [Relation] cause [Effect] negatively affect",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Huntington is large enough to be subject to the Federal Reserve's stress tests because it has more than $100 billion in assets, but it has to go through the full process only every two years.",
    "output": "[Cause] it has more than $100 billion in assets [Relation] cause [Effect] Huntington is large enough to be subject to the Federal Reserve's stress tests",
    "gold": "[Cause] it has more than $100 billion in assets [Relation] enable [Effect] Huntington is large enough to be subject to the Federal Reserve's stress tests",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company has a solid record of innovation, and we think new products will be able to replace earnings as older products fall out of favor or patents expire.",
    "output": "[Cause] older products fall out of favor or patents expire [Relation] cause [Effect] new products will be able to replace earnings",
    "gold": "[Cause] older products fall out of favor or patents expire [Relation] enable [Effect] new products will be able to replace earnings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Petrobras' business model remains focused on oil and gas production, which should be a safe bet given we do not foresee a material decline in global oil and gas demand over the next decade.",
    "output": "[Cause] we do not foresee a material decline in global oil and gas demand over the next decade [Relation] cause [Effect] Petrobras' business model remains focused on oil and gas production, which should be a safe bet",
    "gold": "[Cause] we do not foresee a material decline in global oil and gas demand over the next decade [Relation] cause [Effect] Petrobras' business model remains focused on oil and gas production, which should be a safe bet",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The legacy Vistar business could be advantaged, given its market leading positions, share gains, and attractive profitability, but at 12% of total company revenue, it is too insignificant to affect the competitive standing of the firm overall, in our view.",
    "output": "[Cause] its market leading positions, share gains, and attractive profitability [Relation] cause [Effect] The legacy Vistar business could be advantaged",
    "gold": "[Cause]  its market leading positions, share gains, and attractive profitability [Relation] enable [Effect] The legacy Vistar business could be advantaged",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From a competitive standpoint, China Mobile has marketed its 4G network aggressively, which has put pressure on pricing and margins for China Telecom mobile.",
    "output": "[Cause] China Mobile has marketed its 4G network aggressively [Relation] cause [Effect] put pressure on pricing and margins for China Telecom mobile",
    "gold": "[Cause] China Mobile has marketed its 4G network aggressively [Relation] enable [Effect] put pressure on pricing and margins for China Telecom mobile",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And while the breadth of its services could logically lead to cost advantages or customer switching costs, the company's returns on invested capital have not provided evidence of such an edge, and we don't forecast they will develop.",
    "output": "[Cause] the breadth of its services [Relation] cause [Effect] cost advantages or customer switching costs",
    "gold": "[Cause]  the breadth of its services could logically lead to cost advantages or customer switching costs [Relation] cause [Effect] the company's returns on invested capital have not provided evidence of such an edge",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast modestly improving gross margins over the next five years (rising to 36% in 2024) as the company intermittently plays defense on its pricing.",
    "output": "[Cause] the company intermittently plays defense on its pricing [Relation] cause [Effect] modestly improving gross margins over the next five years (rising to 36% in 2024)",
    "gold": "[Cause]  the company intermittently plays defense on its pricing [Relation] cause [Effect] We forecast modestly improving gross margins over the next five years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Cigna's acquisition of Express Scripts, a top-tier PBM, should be instrumental in reaching its cost trend goal, and we view the PBM as competitively advantaged in its own right with cost advantages and switching costs present in this business.",
    "output": "[Cause] Cigna's acquisition of Express Scripts [Relation] enable [Effect] reaching its cost trend goal",
    "gold": "[Cause] Cigna's acquisition of Express Scripts [Relation] enable [Effect] reaching its cost trend goal",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Deflation will theoretically expose the bank to large losses, and isn't historically unprecedented (the economy last experienced deflation in 2009).",
    "output": "[Cause] Deflation [Relation] cause [Effect] expose the bank to large losses",
    "gold": "[Cause] Deflation [Relation] cause [Effect] expose the bank to large losses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Prices for hogs and grain have surged in fiscal 2021, but Hormel has hedged its exposure, which should materially limit profit volatility.",
    "output": "[Cause] Hormel has hedged its exposure [Relation] cause [Effect] materially limit profit volatility",
    "gold": "[Cause] Hormel has hedged its exposure [Relation] cause [Effect] materially limit profit volatility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, Lear has a high degree of operating leverage, so sudden declines in volume can have a meaningful negative impact on short-term profitability.",
    "output": "[Cause] Lear has a high degree of operating leverage [Relation] cause [Effect] sudden declines in volume can have a meaningful negative impact on short-term profitability",
    "gold": "[Cause] Lear has a high degree of operating leverage [Relation] cause [Effect] sudden declines in volume can have a meaningful negative impact on short-term profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The Diamondback relationship is important because it provides Viper with certainty that a large portion of its acreage will be drilled, providing it with greater confidence over its financials versus peers that do not have a similar relationship.",
    "output": "[Cause] it provides Viper with certainty that a large portion of its acreage will be drilled [Relation] cause [Effect] The Diamondback relationship is important",
    "gold": "[Cause] The Diamondback relationship [Relation] enable [Effect] provides Viper with certainty",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The Diamondback relationship is important because it provides Viper with certainty that a large portion of its acreage will be drilled, providing it with greater confidence over its financials versus peers that do not have a similar relationship.",
    "output": "[Cause] Viper with certainty that a large portion of its acreage will be drilled [Relation] enable [Effect] providing it with greater confidence over its financials versus peers that do not have a similar relationship",
    "gold": "[Cause] provides Viper with certainty [Relation] enable [Effect] providing it with greater confidence over its financials versus peers that do not have a similar relationship",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Despite the positive demand drivers in AvalonBay's markets and assets, intense competition for high-quality assets in strong markets drove up the initial capital investment on the company's portfolio.",
    "output": "[Cause] intense competition for high-quality assets in strong markets [Relation] cause [Effect] drove up the initial capital investment on the company's portfolio",
    "gold": "[Cause]  the positive demand drivers in AvalonBay's markets and assets [Relation] cause [Effect] intense competition for high-quality assets in strong markets drove up the initial capital investment on the company's portfolio",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The secular trend in increased streaming consumption along with additional Roku devices/screens per household will help to propel monthly streaming hours per household to increase by 7% annually to 223 hours per month from 125 at the end of 2020.",
    "output": "[Cause] The secular trend in increased streaming consumption along with additional Roku devices/screens per household [Relation] enable [Effect] propel monthly streaming hours per household to increase by 7% annually to 223 hours per month from 125 at the end of 2020",
    "gold": "[Cause] The secular trend in increased streaming consumption along with additional Roku devices/screens per household [Relation] enable [Effect] propel monthly streaming hours per household to increase by 7% annually to 223 hours per month from 125 at the end of 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, share loss to a co-packing partner is less damaging to the returns on capital of the large cap distillers because they take a slice of the profit for the volumes they produce in a co-packing arrangement.",
    "output": "[Cause] they take a slice of the profit for the volumes they produce in a co-packing arrangement [Relation] cause [Effect] share loss to a co-packing partner is less damaging to the returns on capital of the large cap distillers",
    "gold": "[Cause]  they take a slice of the profit for the volumes they produce in a co-packing arrangement [Relation] cause [Effect] share loss to a co-packing partner is less damaging to the returns on capital of the large cap distillers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's breadth of portfolio across geographies and product categories limits brand and execution risk, and we assign Unilever a low uncertainty rating.",
    "output": "[Cause] The firm's breadth of portfolio across geographies and product categories [Relation] prevent [Effect] brand and execution risk",
    "gold": "[Cause] The firm's breadth of portfolio across geographies and product categories [Relation] cause [Effect] Unilever a low uncertainty rating",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm's breadth of portfolio across geographies and product categories limits brand and execution risk, and we assign Unilever a low uncertainty rating.",
    "output": "[Cause] The firm's breadth of portfolio across geographies and product categories [Relation] prevent [Effect] brand and execution risk",
    "gold": "[Cause] The firm's breadth of portfolio across geographies and product categories [Relation] prevent [Effect]  brand and execution risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ormat must also work to maintain strong international credit relationships so it can continue to access credit markets to fund growth investments.",
    "output": "[Cause] Ormat must also work to maintain strong international credit relationships [Relation] enable [Effect] it can continue to access credit markets to fund growth investments",
    "gold": "[Cause] Ormat must also work to maintain strong international credit relationships [Relation] cause [Effect] it can continue to access credit markets to fund growth investments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "More effective branded competitors are poised to continue to erode Enbrel's share, and while Enbrel patents run to 2028, we think biosimilar Humira (expected in 2023 in the United States) could pull down sales of the TNF class.",
    "output": "[Cause] More effective branded competitors are poised to continue to erode Enbrel's share [Relation] cause [Effect] Enbrel patents run to 2028",
    "gold": "[Cause] More effective branded competitors [Relation] prevent [Effect] Enbrel's share",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over the medium term, we believe margin expansion is possible as long as ADP can grow revenue at a mid-single-digit rate.",
    "output": "[Cause] ADP can grow revenue at a mid-single-digit rate [Relation] cause [Effect] margin expansion is possible",
    "gold": "[Cause] as long as ADP can grow [Relation] enable [Effect] margin expansion is possible",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Post's cereal businesses represent over half of corporate profits and are facing secular declines, as consumers shift away from processed, high-sugar, and high-carb foods.",
    "output": "[Cause] consumers shift away from processed, high-sugar, and high-carb foods [Relation] cause [Effect] Post's cereal businesses represent over half of corporate profits and are facing secular declines",
    "gold": "[Cause] consumers shift away from processed, high-sugar, and high-carb foods [Relation] cause [Effect] Post's cereal businesses represent over half of corporate profits and are facing secular declines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This flexibility allowed BASF to remain fairly profitable during the economic crisis in 2008-09, despite a significant drop in demand.",
    "output": "[Cause] This flexibility [Relation] enable [Effect] BASF to remain fairly profitable during the economic crisis in 2008-09",
    "gold": "[Cause] This flexibility [Relation] enable [Effect] allowed BASF to remain fairly profitable during the economic crisis",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Cisco's data center customer attrition can be attributed to Arista's innovation, and Arista's disruptive technology could convert some of Cisco's campus customers.",
    "output": "[Cause] Arista's innovation [Relation] cause [Effect] Cisco's data center customer attrition",
    "gold": "[Cause] Cisco's data center customer attrition can be attributed to Arista's innovation [Relation] enable [Effect]  Arista's disruptive technology could convert some of Cisco's campus customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With most developing countries still predominantly cash-based, we expect Western Union's customers to be very late adopters of any new payment methods.",
    "output": "[Cause] most developing countries still predominantly cash-based [Relation] cause [Effect] we expect Western Union's customers to be very late adopters of any new payment methods",
    "gold": "[Cause] most developing countries still predominantly cash-based [Relation] cause [Effect]  we expect Western Union's customers to be very late adopters of any new payment methods",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given DGD's use of low-carbon feedstock with higher associated LCFS credits, lack of a blend wall and global blending mandates, renewable diesel offers Valero an opportunity to grow volumes and earnings and capitalize on existing competitive advantages.",
    "output": "[Cause] DGD's use of low-carbon feedstock with higher associated LCFS credits, lack of a blend wall and global blending mandates [Relation] cause [Effect] renewable diesel offers Valero an opportunity to grow volumes and earnings and capitalize on existing competitive advantages",
    "gold": "[Cause] DGD's use of low-carbon feedstock with higher associated LCFS credits, lack of a blend wall and global blending mandates [Relation] enable [Effect] renewable diesel offers Valero an opportunity to grow volumes and earnings and capitalize on existing competitive advantages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Brand intangible assets  Potentially offsetting the challenge of generating economic profit from regulation intangibles, we think that the creation of brand intangibles would help cannabis companies pass the increased cost to consumers, thus protecting their own economic profit.",
    "output": "[Cause] Brand intangible assets Potentially [Relation] prevent [Effect] the challenge of generating economic profit from regulation intangibles",
    "gold": "[Cause]  the creation of brand intangibles [Relation] enable [Effect] cannabis companies pass the increased cost to consumers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Brand intangible assets  Potentially offsetting the challenge of generating economic profit from regulation intangibles, we think that the creation of brand intangibles would help cannabis companies pass the increased cost to consumers, thus protecting their own economic profit.",
    "output": "[Cause] the creation of brand intangibles [Relation] enable [Effect] cannabis companies pass the increased cost to consumers",
    "gold": "[Cause] cannabis companies pass the increased cost to consumers [Relation] cause [Effect]  protecting their own economic profit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While most will not leave Facebook permanently but will split their time between the two apps and possibly other ones, we note that Instagram (Facebook's multimedia app) may be viewed as a substitute for Snapchat, which may keep potential Snapchat users on Facebook's Instagram.",
    "output": "[Cause] Instagram (Facebook's multimedia app) may be viewed as a substitute for Snapchat [Relation] enable [Effect] keep potential Snapchat users on Facebook's Instagram",
    "gold": "[Cause] Instagram (Facebook's multimedia app) may be viewed as a substitute for Snapchat [Relation] cause [Effect] keep potential Snapchat users on Facebook's Instagram",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe selling, general, and administrative spending is more flexible than cost of sales and expect Syneos to cut operating spending throughout the forecast period, especially as integrated clinical and commercial solutions grow. This results in a midcycle operating margin of about 11.8%, slightly lower than peers but a sizable improvement from 8% in 2020.",
    "output": "[Cause] selling, general, and administrative spending is more flexible than cost of sales and expect Syneos to cut operating spending throughout the forecast period, especially as integrated clinical and commercial solutions grow [Relation] cause [Effect] a midcycle operating margin of about 11.8%, slightly lower than peers but a sizable improvement from 8% in 2020",
    "gold": "[Cause]  selling, general, and administrative spending is more flexible than cost of sales and expect Syneos to cut operating spending throughout the forecast period, especially as integrated clinical and commercial solutions grow [Relation] cause [Effect] a midcycle operating margin of about 11.8%, slightly lower than peers but a sizable improvement from 8% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we believe Applied's expansive product portfolio and large installed base will allow the firm to comfortably weather business cycles over time, and we expect the company to experience solid growth over the long term.",
    "output": "[Cause] Applied's expansive product portfolio and large installed base [Relation] enable [Effect] the firm to comfortably weather business cycles over time",
    "gold": "[Cause] Applied's expansive product portfolio and large installed base [Relation] enable [Effect] the firm to comfortably weather business cycles over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Higher glass product weights have led a shift toward aluminum packaging, particularly in beer, which can depress utilization rates and weigh heavily on profits.",
    "output": "[Cause] Higher glass product weights [Relation] cause [Effect] a shift toward aluminum packaging",
    "gold": "[Cause] Higher glass product weights [Relation] cause [Effect]  a shift toward aluminum packaging",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Higher glass product weights have led a shift toward aluminum packaging, particularly in beer, which can depress utilization rates and weigh heavily on profits.",
    "output": "[Cause] Higher glass product weights [Relation] cause [Effect] a shift toward aluminum packaging",
    "gold": "[Cause]  a shift toward aluminum packaging [Relation] prevent [Effect] utilization rates",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Higher glass product weights have led a shift toward aluminum packaging, particularly in beer, which can depress utilization rates and weigh heavily on profits.",
    "output": "[Cause] Higher glass product weights [Relation] cause [Effect] a shift toward aluminum packaging",
    "gold": "[Cause]  a shift toward aluminum packaging [Relation] cause [Effect] weigh heavily on profits",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the need to purchase new instruments with each procedure, installed systems should provide a relatively dependable stream of revenue per procedure, as long as surgeons continue to use installed systems.",
    "output": "[Cause] the need to purchase new instruments with each procedure [Relation] cause [Effect] installed systems should provide a relatively dependable stream of revenue per procedure",
    "gold": "[Cause] the need to purchase new instruments with each procedure [Relation] enable [Effect] installed systems should provide a relatively dependable stream of revenue per procedure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the need to purchase new instruments with each procedure, installed systems should provide a relatively dependable stream of revenue per procedure, as long as surgeons continue to use installed systems.",
    "output": "[Cause] surgeons continue to use installed systems [Relation] cause [Effect] installed systems should provide a relatively dependable stream of revenue per procedure",
    "gold": "[Cause] surgeons continue to use installed systems [Relation] enable [Effect] installed systems should provide a relatively dependable stream of revenue per procedure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Wiley leverages its associations with universities to incorporate teachings and lectures from professors into many of its professional development offerings, resulting in superior content that smaller competitors (and in-house client professional development teams) are hard-pressed to match.",
    "output": "[Cause] Wiley leverages its associations with universities to incorporate teachings and lectures from professors into many of its professional development offerings [Relation] cause [Effect] superior content that smaller competitors (and in-house client professional development teams) are hard-pressed to match",
    "gold": "[Cause] Wiley leverages its associations with universities to incorporate teachings and lectures from professors into many of its professional development offerings [Relation] cause [Effect] superior content that smaller competitors (and in-house client professional development teams) are hard-pressed to match",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Roku also monetizes its network effect via content distribution fees for subscription video on demand service like Netflix or Disney+.",
    "output": "[Cause] content distribution fees for subscription video on demand service like Netflix or Disney+ [Relation] enable [Effect] Roku also monetizes its network effect",
    "gold": "[Cause] content distribution fees for subscription video on demand service like Netflix or Disney+ [Relation] enable [Effect] Roku also monetizes its network effect",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its Canadian mines mostly sit on the lower half of the cost curve and have generated profits even when prices are below the marginal cost of production.",
    "output": "[Cause] Its Canadian mines mostly sit on the lower half of the cost curve [Relation] enable [Effect] profits",
    "gold": "[Cause] Its Canadian mines mostly sit on the lower half of the cost curve [Relation] enable [Effect] profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm operates a relatively differentiated business model, thanks to its digital properties exposure, content creation ability, and key licensing arrangements, factors that have been enhanced with the Entertainment One (EOne) tie-up.",
    "output": "[Cause] its digital properties exposure, content creation ability, and key licensing arrangements [Relation] enable [Effect] The firm operates a relatively differentiated business model",
    "gold": "[Cause] the Entertainment One (EOne) tie-up [Relation] enable [Effect]  its digital properties exposure, content creation ability, and key licensing arrangements",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm operates a relatively differentiated business model, thanks to its digital properties exposure, content creation ability, and key licensing arrangements, factors that have been enhanced with the Entertainment One (EOne) tie-up.",
    "output": "[Cause] its digital properties exposure, content creation ability, and key licensing arrangements [Relation] enable [Effect] The firm operates a relatively differentiated business model",
    "gold": "[Cause]  its digital properties exposure, content creation ability, and key licensing arrangements [Relation] enable [Effect] The firm operates a relatively differentiated business model",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite this strength, the observation deck has seen declining visitor counts stemming from flailing international tourist demand, competition from newer observation decks, and an increase in bad-weather days.",
    "output": "[Cause] flailing international tourist demand, competition from newer observation decks, and an increase in bad-weather days [Relation] cause [Effect] the observation deck has seen declining visitor counts",
    "gold": "[Cause] flailing international tourist demand, competition from newer observation decks, and an increase in bad-weather days [Relation] cause [Effect] the observation deck has seen declining visitor counts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Large pharmaceutical companies that would have the capital and risk capacity to potentially develop an IUD may be wary of doing so because of the relatively limited upside and the negative reputational effects any litigation could have on the sales of their other products.",
    "output": "[Cause] the relatively limited upside and the negative reputational effects any litigation could have on the sales of their other products [Relation] cause [Effect] Large pharmaceutical companies that would have the capital and risk capacity to potentially develop an IUD may be wary of doing so",
    "gold": "[Cause] the relatively limited upside and the negative reputational effects any litigation could have on the sales of their other products [Relation] cause [Effect] Large pharmaceutical companies that would have the capital and risk capacity to potentially develop an IUD may be wary of doing so",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Working to offset the higher costs, management is using production optimization techniques and waterflood technology to generate free cash flows from its established Viewfield Bakken and Shaunavon assets.",
    "output": "[Cause] management is using production optimization techniques and waterflood technology [Relation] enable [Effect] generate free cash flows from its established Viewfield Bakken and Shaunavon assets",
    "gold": "[Cause] management is using production optimization techniques and waterflood technology to generate free cash flows from its established Viewfield Bakken and Shaunavon assets [Relation] enable [Effect] offset the higher costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the evolution of barriers to exit for Facebook's 2.8 billion users, we believe the Snap competitor's growth and race to further innovation remain key risks for the firm.",
    "output": "[Cause] the evolution of barriers to exit for Facebook's 2.8 billion users [Relation] cause [Effect] the Snap competitor's growth and race to further innovation remain key risks for the firm",
    "gold": "[Cause] the evolution of barriers to exit for Facebook's 2.8 billion users [Relation] cause [Effect] the Snap competitor's growth and race to further innovation remain key risks for the firm",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Net interest income tends to do better with higher interest rates and a steeper yield curve but COVID-19 has brought lower rates and a flatter yield curve.",
    "output": "[Cause] higher interest rates and a steeper yield curve [Relation] enable [Effect] Net interest income tends to do better",
    "gold": "[Cause] Net interest income [Relation] cause [Effect] higher interest rates and a steeper yield curve",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Net interest income tends to do better with higher interest rates and a steeper yield curve but COVID-19 has brought lower rates and a flatter yield curve.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] lower rates and a flatter yield curve",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] lower rates and a flatter yield curve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fiscal 2021 should prove volatile as rising vaccination rates lead Americans back to pandemic-affected categories like restaurants, reversing a shift that had favored retailers through the crisis.",
    "output": "[Cause] rising vaccination rates lead Americans back to pandemic-affected categories like restaurants [Relation] cause [Effect] Fiscal 2021 should prove volatile",
    "gold": "[Cause]  rising vaccination rates lead Americans back to pandemic-affected categories like restaurants [Relation] cause [Effect] Fiscal 2021 should prove volatile",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Therefore, Lincoln Electric's engineering capabilities and experience with welding and automation give the firm a competitive advantage in a niche market with relatively high technological barriers to entry.",
    "output": "[Cause] Lincoln Electric's engineering capabilities and experience with welding and automation [Relation] enable [Effect] the firm a competitive advantage in a niche market with relatively high technological barriers to entry",
    "gold": "[Cause] relatively high technological barriers to entry [Relation] enable [Effect] Lincoln Electric's engineering capabilities and experience with welding and automation give the firm a competitive advantage in a niche market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With the bulk of the FTTP buildout complete, we believe capital spending, which was elevated in recent years, peaked in 2017 and will remain under CAD 3 billion each year through 2024.",
    "output": "[Cause] the bulk of the FTTP buildout complete [Relation] cause [Effect] capital spending, which was elevated in recent years, peaked in 2017 and will remain under CAD 3 billion each year through 2024",
    "gold": "[Cause]  the bulk of the FTTP buildout complete [Relation] cause [Effect]  capital spending, which was elevated in recent years, peaked in 2017 and will remain under CAD 3 billion each year through 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "What many foreign policy experts agree on, however, is the highly probable threat of a so-called ''''''''dirty bomb,'''''''' whereby conventional explosives are used to disperse radiation from a radioactive source.",
    "output": "[Cause] conventional explosives are used to disperse radiation from a radioactive source [Relation] cause [Effect] the highly probable threat of a so-called '''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''",
    "gold": "[Cause] conventional explosives [Relation] enable [Effect] disperse radiation from a radioactive source",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We are slightly decreasing our fair value estimate to $32.50 per share from $34 per share after incorporating third-quarter results and adjusting our assumptions for the impact of the coronavirus.",
    "output": "[Cause] incorporating third-quarter results and adjusting our assumptions for the impact of the coronavirus [Relation] cause [Effect] We are slightly decreasing our fair value estimate to $32.50 per share from $34 per share",
    "gold": "[Cause] incorporating third-quarter results and adjusting our assumptions for the impact of the coronavirus [Relation] cause [Effect] We are slightly decreasing our fair value estimate to $32.50 per share from $34 per share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company consistently generates annual trading revenue over $10 billion and usually closer to $15 billion, which makes it one of the largest broker/dealers in the world.",
    "output": "[Cause] The company consistently generates annual trading revenue over $10 billion and usually closer to $15 billion [Relation] enable [Effect] it one of the largest broker/dealers in the world",
    "gold": "[Cause] The company consistently generates annual trading revenue over $10 billion and usually closer to $15 billion [Relation] cause [Effect] it one of the largest broker/dealers in the world",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think banks with relatively low deposit market share are disadvantaged from a cost perspective because of the fixed cost investment required to maintain a network of branches and ATMs.",
    "output": "[Cause] the fixed cost investment required to maintain a network of branches and ATMs [Relation] cause [Effect] banks with relatively low deposit market share are disadvantaged from a cost perspective",
    "gold": "[Cause] banks with relatively low deposit market share are disadvantaged from a cost perspective [Relation] cause [Effect] the fixed cost investment required to maintain a network of branches and ATMs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think Cooper's relatively stable market share and the cash-pay nature of the contact lens market support our medium uncertainty rating.",
    "output": "[Cause] Cooper's relatively stable market share and the cash-pay nature of the contact lens market [Relation] enable [Effect] our medium uncertainty rating",
    "gold": "[Cause] Cooper's relatively stable market share and the cash-pay nature of the contact lens market [Relation] enable [Effect] our medium uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the uncertainty that still lies ahead associated with COVID, management will direct some of the cash flow to paying down debt and strengthening the balance sheet.",
    "output": "[Cause] the uncertainty that still lies ahead associated with COVID [Relation] cause [Effect] management will direct some of the cash flow to paying down debt and strengthening the balance sheet",
    "gold": "[Cause]  the uncertainty that still lies ahead associated with COVID [Relation] cause [Effect] management will direct some of the cash flow to paying down debt and strengthening the balance sheet",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the last two goals appear achievable within four years, we forecast operating margins to remain below 6% for at least the next 10 years due to the intense competition in fashion retail.",
    "output": "[Cause] the intense competition in fashion retail [Relation] cause [Effect] operating margins to remain below 6% for at least the next 10 years",
    "gold": "[Cause]  the intense competition in fashion retail [Relation] prevent [Effect] operating margins to remain below 6% for at least the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "No longer forced to compete for capital from a conglomerate parent, Allegion is now able to employ a more robust acquisition strategy to expand its scale, technological capabilities, and product portfolio.",
    "output": "[Cause] No longer forced to compete for capital from a conglomerate parent [Relation] cause [Effect] Allegion is now able to employ a more robust acquisition strategy",
    "gold": "[Cause] No longer forced to compete for capital from a conglomerate parent [Relation] cause [Effect] Allegion is now able to employ a more robust acquisition strategy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "No longer forced to compete for capital from a conglomerate parent, Allegion is now able to employ a more robust acquisition strategy to expand its scale, technological capabilities, and product portfolio.",
    "output": "[Cause] Allegion is now able to employ a more robust acquisition strategy [Relation] enable [Effect] expand its scale, technological capabilities, and product portfolio",
    "gold": "[Cause] Allegion is now able to employ a more robust acquisition strategy [Relation] enable [Effect] expand its scale, technological capabilities, and product portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After second-quarter earnings, we are increasing our fair value to $564 from $553 due to the time value of money and slightly higher medium-term margin targets, though these increases are partially offset by a slightly deeper revenue trough in fiscal 2021.",
    "output": "[Cause] the time value of money and slightly higher medium-term margin targets [Relation] cause [Effect] we are increasing our fair value to $564 from $553",
    "gold": "[Cause]  the time value of money and slightly higher medium-term margin targets [Relation] cause [Effect] we are increasing our fair value to $564 from $553",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After second-quarter earnings, we are increasing our fair value to $564 from $553 due to the time value of money and slightly higher medium-term margin targets, though these increases are partially offset by a slightly deeper revenue trough in fiscal 2021.",
    "output": "[Cause] the time value of money and slightly higher medium-term margin targets [Relation] cause [Effect] we are increasing our fair value to $564 from $553",
    "gold": "[Cause] a slightly deeper revenue trough in fiscal 2021 [Relation] prevent [Effect] these increases",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, given the northern location of CN's assets, adverse winter weather can materially hamper efficiency by blocking tracks and necessitating shorter trains throughout certain times of the year.",
    "output": "[Cause] the northern location of CN's assets [Relation] cause [Effect] adverse winter weather",
    "gold": "[Cause] the northern location of CN's assets [Relation] cause [Effect]  adverse winter weather",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, given the northern location of CN's assets, adverse winter weather can materially hamper efficiency by blocking tracks and necessitating shorter trains throughout certain times of the year.",
    "output": "[Cause] blocking tracks and necessitating shorter trains throughout certain times of the year [Relation] cause [Effect] adverse winter weather",
    "gold": "[Cause]  adverse winter weather [Relation] cause [Effect] blocking tracks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, given the northern location of CN's assets, adverse winter weather can materially hamper efficiency by blocking tracks and necessitating shorter trains throughout certain times of the year.",
    "output": "[Cause] blocking tracks [Relation] cause [Effect] shorter trains throughout certain times of the year",
    "gold": "[Cause] blocking tracks | necessitating shorter trains throughout certain times of the year [Relation] cause [Effect] materially hamper efficiency",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect steady domestic oil production growth of about 3% per year on average during 2020-24, although that could be lower if Petrobras decides to invest at the lower end of its guidance range.",
    "output": "[Cause] Petrobras decides to invest at the lower end of its guidance range [Relation] cause [Effect] steady domestic oil production growth of about 3% per year on average during 2020-24",
    "gold": "[Cause] Petrobras decides to invest at the lower end of its guidance range [Relation] prevent [Effect] steady domestic oil production growth of about 3% per year on average during 2020-24",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Mineral rights to acres in regions with extremely low production costs per barrel (meaning those acres have high production rates) are inherently much more valuable than rights to high-cost acres because the amount of expected cash flows generated from those rights is significantly higher.",
    "output": "[Cause] the amount of expected cash flows generated from those rights is significantly higher [Relation] cause [Effect] Mineral rights to acres in regions with extremely low production costs per barrel (meaning those acres have high production rates) are inherently much more valuable than rights to high-cost acres",
    "gold": "[Cause] those acres have high production rates [Relation] enable [Effect] extremely low production costs per barrel",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This favors large, well-funded players like Genuine Parts that are able to leverage inventory and infrastructure over a large sales base to maximize the opportunities to sell slow-to-move components. Consequently, the unit also has a cost advantage relative to smaller, regional participants, important in an industry that is highly fragmented (despite its standing as a leading industrial maintenance, repair, and operations parts distributor in North America, the segment's market share is only around 3%).",
    "output": "[Cause] This favors large, well-funded players like Genuine Parts that are able to leverage inventory and infrastructure over a large sales base to maximize the opportunities to sell slow-to-move components [Relation] cause [Effect] the unit also has a cost advantage relative to smaller, regional participants, important in an industry that is highly fragmented (despite its standing as a leading industrial maintenance, repair, and operations parts distributor in North America, the segment's market share is only around 3%)",
    "gold": "[Cause] This favors large, well-funded players like Genuine Parts that are able to leverage inventory and infrastructure over a large sales base to maximize the opportunities to sell slow-to-move components [Relation] cause [Effect] the unit also has a cost advantage relative to smaller, regional participants, important in an industry that is highly fragmented (despite its standing as a leading industrial maintenance, repair, and operations parts distributor in North America, the segment's market share is only around 3%)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The three states above made up 63% of total revenue in 2019, with Florida the largest at 24%, and another COVID shutdown in these states would cause a very poor quarter in our opinion.",
    "output": "[Cause] another COVID shutdown in these states [Relation] cause [Effect] a very poor quarter in our opinion",
    "gold": "[Cause] another COVID shutdown in these states [Relation] cause [Effect] cause a very poor quarter",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Propane distributors own large storage tanks on customers' properties, and the hassle and fee involved with the process discourages customers from switching.",
    "output": "[Cause] the hassle and fee involved with the process [Relation] prevent [Effect] customers from switching",
    "gold": "[Cause]  the hassle and fee involved with the process [Relation] prevent [Effect] customers from switching",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Along these lines, Robinson's migration to large, price-committed customers over the past five years is a double-edge sword--these shippers provide a greater degree of sticky, scheduled freight, but they also boost gross margin risk.",
    "output": "[Cause] Robinson's migration to large, price-committed customers over the past five years [Relation] cause [Effect] a double-edge sword",
    "gold": "[Cause] Robinson's migration to large, price-committed customers over the past five years [Relation] cause [Effect] shippers provide a greater degree of sticky, scheduled freight, but they also boost gross margin risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Vistra might be able to establish a low-cost advantage in the retail markets where it has substantial wholesale generation presence.",
    "output": "[Cause] it has substantial wholesale generation presence [Relation] enable [Effect] establish a low-cost advantage in the retail markets",
    "gold": "[Cause] Vistra might be able to establish a low-cost advantage in the retail markets [Relation] cause [Effect] substantial wholesale generation presence",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think GTT's pending sale of its infrastructure division would likely take bankruptcy off the table and would cause us to re-evaluate our uncertainty rating.",
    "output": "[Cause] GTT's pending sale of its infrastructure division [Relation] cause [Effect] take bankruptcy off the table",
    "gold": "[Cause] GTT's pending sale of its infrastructure division [Relation] cause [Effect] take bankruptcy off the table",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think GTT's pending sale of its infrastructure division would likely take bankruptcy off the table and would cause us to re-evaluate our uncertainty rating.",
    "output": "[Cause] GTT's pending sale of its infrastructure division [Relation] cause [Effect] us to re-evaluate our uncertainty rating",
    "gold": "[Cause] GTT's pending sale of its infrastructure division [Relation] cause [Effect] us to re-evaluate our uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Department of Energy state that minimizing downtime has been shown to increase production by as much as 25% while increasing asset availability by 30%.",
    "output": "[Cause] minimizing downtime [Relation] enable [Effect] increase production by as much as 25% while increasing asset availability by 30%",
    "gold": "[Cause] minimizing downtime [Relation] enable [Effect]  increase production by as much as 25% while increasing asset availability by 30%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Onpattro, the company's first approved drug, is a key driver in polyneuropathy in hereditary ATTR amyloidosis, but we expect next-generation vutrisiran to bolster the company's top line by expanding its reach to cardiomyopathy in both hereditary and wild-type ATTR amyloidosis.",
    "output": "[Cause] Onpattro, the company's first approved drug [Relation] enable [Effect] a key driver in polyneuropathy in hereditary ATTR amyloidosis",
    "gold": "[Cause] Onpattro, the company's first approved drug [Relation] enable [Effect] a key driver in polyneuropathy in hereditary ATTR amyloidosis",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Onpattro, the company's first approved drug, is a key driver in polyneuropathy in hereditary ATTR amyloidosis, but we expect next-generation vutrisiran to bolster the company's top line by expanding its reach to cardiomyopathy in both hereditary and wild-type ATTR amyloidosis.",
    "output": "[Cause] expanding its reach to cardiomyopathy in both hereditary and wild-type ATTR amyloidosis [Relation] enable [Effect] next-generation vutrisiran to bolster the company's top line",
    "gold": "[Cause] expanding its reach to cardiomyopathy in both hereditary and wild-type ATTR amyloidosis [Relation] enable [Effect] next-generation vutrisiran to bolster the company's top line",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This creates a strong recurring revenue stream, with 80%-plus of John Crane's installed base of mechanical seals maintained by the company itself, guaranteeing a stream of revenue for the 25-year life of the seal.",
    "output": "[Cause] 80%-plus of John Crane's installed base of mechanical seals maintained by the company itself [Relation] enable [Effect] a stream of revenue for the 25-year life of the seal",
    "gold": "[Cause] This creates a strong recurring revenue stream [Relation] enable [Effect] guaranteeing a stream of revenue for the 25-year life of the sea",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Fortunately, the company has strong growth prospects with its highly secured and highly profitable NGTL system that will drive significant incremental cash flow for years to come while supporting the planned dividend growth.",
    "output": "[Cause] its highly secured and highly profitable NGTL system [Relation] enable [Effect] drive significant incremental cash flow for years to come while supporting the planned dividend growth",
    "gold": "[Cause]  its highly secured and highly profitable NGTL system [Relation] enable [Effect] the company has strong growth prospects",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In safety and productivity solutions, the biggest concern we have includes rapid changes in technology, which can obviate the impact of some of Honeywell's software investments and translate into diminished returns on capital projects relative to the firm's expectations.",
    "output": "[Cause] the biggest concern we have includes rapid changes in technology [Relation] enable [Effect] obviate the impact of some of Honeywell's software investments and translate into diminished returns on capital projects relative to the firm's expectations",
    "gold": "[Cause] the biggest concern we have includes rapid changes in technology [Relation] enable [Effect] obviate the impact of some of Honeywell's software investments and translate into diminished returns on capital projects relative to the firm's expectations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we see a slower portfolio transition to more specialty flavors as larger firms will compete more aggressively for new business with midsize customers, a market that Sensient focuses on.",
    "output": "[Cause] larger firms will compete more aggressively for new business with midsize customers [Relation] cause [Effect] a slower portfolio transition to more specialty flavors",
    "gold": "[Cause]  larger firms will compete more aggressively for new business with midsize customers [Relation] cause [Effect] a slower portfolio transition to more specialty flavors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Many firms raised debt and equity capital to bolster their balance sheets during the recession and take advantage of low interest rates and high equity market valuations.",
    "output": "[Cause] raise debt and equity capital [Relation] enable [Effect] bolster their balance sheets during the recession",
    "gold": "[Cause] raised debt and equity capital [Relation] cause [Effect] bolster their balance sheets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our current five-year revenue forecast models sales growing at about a 4% compound annual rate after a 19% dip in 2020 due to its environment solutions divesture, weak sorted office paper pricing, and effects from COVID-19.",
    "output": "[Cause] its environment solutions divesture, weak sorted office paper pricing, and effects from COVID-19 [Relation] cause [Effect] Our current five-year revenue forecast models sales growing at about a 4% compound annual rate after a 19% dip in 2020",
    "gold": "[Cause] its environment solutions divesture, weak sorted office paper pricing, and effects from COVID-19 [Relation] cause [Effect] Our current five-year revenue forecast models sales growing at about a 4% compound annual rate after a 19% dip in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the company moves up-market into enterprise accounts, it will increasingly bump up against Salesforce and Adobe, with their enterprise-grade marketing and commerce suites.",
    "output": "[Cause] the company moves up-market into enterprise accounts [Relation] cause [Effect] it will increasingly bump up against Salesforce and Adobe, with their enterprise-grade marketing and commerce suites",
    "gold": "[Cause] the company moves up-market into enterprise accounts [Relation] cause [Effect] it will increasingly bump up against Salesforce and Adobe, with their enterprise-grade marketing and commerce suites",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Zebra will face headwinds in 2020 due to the global pandemic, with revenue down 6%, but will recover with average revenue growth of 7% during the remainder of our explicit forecast.",
    "output": "[Cause] the global pandemic [Relation] cause [Effect] Zebra will face headwinds in 2020",
    "gold": "[Cause]  the global pandemic [Relation] prevent [Effect] revenue down 6%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe Zebra will face headwinds in 2020 due to the global pandemic, with revenue down 6%, but will recover with average revenue growth of 7% during the remainder of our explicit forecast.",
    "output": "[Cause] the global pandemic [Relation] cause [Effect] revenue down 6%",
    "gold": "[Cause] remainder of our explicit forecast [Relation] cause [Effect] recover with average revenue growth of 7%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Many imaging systems come with incorporated proprietary software, so changing suppliers implies retraining doctors in a new interface with which they might feel less comfortable during an intervention.",
    "output": "[Cause] Many imaging systems come with incorporated proprietary software [Relation] cause [Effect] changing suppliers implies retraining doctors in a new interface with which they might feel less comfortable during an intervention",
    "gold": "[Cause] changing suppliers [Relation] cause [Effect] they might feel less comfortable during an intervention",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Despite all of the protections and guarantees in place in the original triple-net lease term, the initial rent was set too high, given the cuts the federal government was making, and the rent increases were unsustainable, given the declining revenue in the underlying assets.",
    "output": "[Cause] the cuts the federal government was making [Relation] cause [Effect] the initial rent was set too high",
    "gold": "[Cause]  the cuts the federal government was making [Relation] enable [Effect] the initial rent was set too high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite all of the protections and guarantees in place in the original triple-net lease term, the initial rent was set too high, given the cuts the federal government was making, and the rent increases were unsustainable, given the declining revenue in the underlying assets.",
    "output": "[Cause] the cuts the federal government was making [Relation] cause [Effect] the initial rent was set too high",
    "gold": "[Cause] the rent increases were unsustainable [Relation] enable [Effect] the initial rent was set too high",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Despite all of the protections and guarantees in place in the original triple-net lease term, the initial rent was set too high, given the cuts the federal government was making, and the rent increases were unsustainable, given the declining revenue in the underlying assets.",
    "output": "[Cause] the cuts the federal government was making [Relation] cause [Effect] the initial rent was set too high",
    "gold": "[Cause]  the declining revenue in the underlying assets [Relation] enable [Effect] the initial rent was set too high",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After reviewing fiscal 2020 results, we're edging up our fair value estimate by $1.50 per share, to $49.50, driven by modest adjusted EPS outperformance in fiscal 2020 and the time value of money.",
    "output": "[Cause] modest adjusted EPS outperformance in fiscal 2020 and the time value of money [Relation] cause [Effect] we're edging up our fair value estimate by $1.50 per share, to $49.50",
    "gold": "[Cause] modest adjusted EPS outperformance in fiscal 2020 and the time value of money [Relation] cause [Effect] we're edging up our fair value estimate by $1.50 per share, to $49.50",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Federal's revenue is somewhat protected by long-term leases, we see retailer bankruptcies causing a significant drop in occupancy and Federal being forced to offer rent concessions to keep others afloat.",
    "output": "[Cause] retailer bankruptcies [Relation] cause [Effect] a significant drop in occupancy and Federal being forced to offer rent concessions to keep others afloat",
    "gold": "[Cause] retailer bankruptcies [Relation] cause [Effect] a significant drop in occupancy and Federal being forced to offer rent concessions to keep others afloat",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect digital retailers to leverage shipping costs through increased national and regional scale, make returns easier, and use technology to ensure products match customers' tastes and fit needs.",
    "output": "[Cause] increased national and regional scale [Relation] enable [Effect] digital retailers to leverage shipping costs",
    "gold": "[Cause] digital retailers to leverage shipping costs through increased national and regional scale [Relation] enable [Effect] returns easier",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect digital retailers to leverage shipping costs through increased national and regional scale, make returns easier, and use technology to ensure products match customers' tastes and fit needs.",
    "output": "[Cause] digital retailers to leverage shipping costs through increased national and regional scale [Relation] enable [Effect] make returns easier",
    "gold": "[Cause] use technology [Relation] enable [Effect]  products match customers' tastes and fit needs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "More relevant results also decrease the likelihood of users jumping to another search engine, creating somewhat of a barrier to exit.",
    "output": "[Cause] More relevant results also decrease the likelihood of users jumping to another search engine [Relation] cause [Effect] creating somewhat of a barrier to exit",
    "gold": "[Cause] More relevant results also decrease the likelihood of users jumping to another search engine [Relation] cause [Effect] creating somewhat of a barrier to exit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition to cyclical demand, overbuilding can lead to lower occupancy and room rates, which would then affect growth and profitability.",
    "output": "[Cause] overbuilding [Relation] cause [Effect] lower occupancy and room rates",
    "gold": "[Cause] overbuilding [Relation] cause [Effect] lower occupancy and room rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also believe that customer concentration and increasing consolidation in the healthcare sector limit DST's pricing power for its healthcare outsourcing services.",
    "output": "[Cause] customer concentration and increasing consolidation in the healthcare sector [Relation] prevent [Effect] DST's pricing power for its healthcare outsourcing services",
    "gold": "[Cause] customer concentration and increasing consolidation in the healthcare sector [Relation] prevent [Effect]  DST's pricing power for its healthcare outsourcing services",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect that other distributors will begin to push back on the fees and tiering structures of RSNs as the price of the pay-TV bundle declines in order to increase competitiveness with DTC offerings like Netflix and Disney+.",
    "output": "[Cause] the price of the pay-TV bundle declines [Relation] cause [Effect] other distributors will begin to push back on the fees and tiering structures of RSNs",
    "gold": "[Cause] other distributors will begin to push back on the fees and tiering structures of RSNs as the price of the pay-TV bundle declines [Relation] cause [Effect]  increase competitiveness with DTC offerings like Netflix and Disney+",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, Skyworks' RF prospects might not be rosy forever, given intense competition in RF chips and a customer base of only a handful of tech titans that could put pricing pressure on Skyworks and other RF chipmakers.",
    "output": "[Cause] intense competition in RF chips and a customer base of only a handful of tech titans that could put pricing pressure on Skyworks and other RF chipmakers [Relation] cause [Effect] Skyworks' RF prospects might not be rosy forever",
    "gold": "[Cause] intense competition in RF chips and a customer base of only a handful of tech titans that could put pricing pressure on Skyworks and other RF chipmakers [Relation] cause [Effect] Skyworks' RF prospects might not be rosy forever",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "PTC's foray into growth areas such as \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"Internet of Things,\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" AR, and midmarket CAD, on the other hand, will significantly add growth to the top line, in our view, as we expect PTC's revenue mix to shift significantly to these areas over the next 10 years.",
    "output": "[Cause] PTC's revenue mix to shift significantly to these areas over the next 10 years [Relation] cause [Effect] PTC's foray into growth areas such as \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"Internet of Things,\"\"\"\"\"\"\"\"\"\"\"\"\"\" AR, and midmarket CAD, on the other hand, will significantly add growth to the top line",
    "gold": "[Cause] PTC's foray into growth areas such as \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"Internet of Things,\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" AR, and midmarket CAD, on the other hand, will significantly add growth to the top lin [Relation] enable [Effect] PTC's revenue mix to shift significantly to these areas over the next 10 years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the firm is a smaller player than other competitors in the components market under our coverage, it has aligned its portfolio toward secular themes of safety, efficiency, and connectivity to pursue growth.",
    "output": "[Cause] it has aligned its portfolio toward secular themes of safety, efficiency, and connectivity [Relation] enable [Effect] pursue growth",
    "gold": "[Cause]  pursue growth [Relation] cause [Effect]  it has aligned its portfolio toward secular themes of safety, efficiency, and connectivity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although Nokia should remain a leader in the CSP supplier market, we expect fierce competition from Huawei, Ericsson, ZTE, Samsung, and Cisco to create a high level of risk.",
    "output": "[Cause] fierce competition from Huawei, Ericsson, ZTE, Samsung, and Cisco [Relation] cause [Effect] create a high level of risk",
    "gold": "[Cause]  fierce competition from Huawei, Ericsson, ZTE, Samsung, and Cisco [Relation] cause [Effect] create a high level of risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2019, however, net revenue came in flattish on slowing global trade and soft industrial end markets, while EBIT margin fell on the demand pullback.",
    "output": "[Cause] slowing global trade and soft industrial end markets [Relation] cause [Effect] net revenue came in flattish",
    "gold": "[Cause] slowing global trade and soft industrial end markets [Relation] cause [Effect]  net revenue came in flattish",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its brand strength, reputation, and centralized database benefit employers looking for qualified candidates willing to accept hard-to-fill positions and job candidates seeking positions in highly skilled professions.",
    "output": "[Cause] Its brand strength, reputation, and centralized database [Relation] enable [Effect] benefit employers looking for qualified candidates willing to accept hard-to-fill positions and job candidates seeking positions in highly skilled professions",
    "gold": "[Cause] Its brand strength, reputation, and centralized database [Relation] cause [Effect] benefit employers looking for qualified candidates willing to accept hard-to-fill positions and job candidates seeking positions in highly skilled professions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customer billing and service challenges in Maine led regulators to impose a 100-basis-point allowed return equity penalty until the company meets customer service metrics for 18 months.",
    "output": "[Cause] Customer billing and service challenges in Maine [Relation] cause [Effect] regulators to impose a 100-basis-point allowed return equity penalty until the company meets customer service metrics for 18 months",
    "gold": "[Cause] Customer billing and service challenges in Maine [Relation] cause [Effect] regulators to impose a 100-basis-point allowed return equity penalty until the company meets customer service metrics for 18 months",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the expense side, we believe that the segment will not break even on an operating margin basis until 2023 as the leverage in the model depends on scale. As a result, we expect EBITDA margin to expand from 1.9% in 2019 to 5.0% in 2024 with a dip back into negative territory in 2020.",
    "output": "[Cause] the segment will not break even on an operating margin basis until 2023 as the leverage in the model depends on scale [Relation] cause [Effect] EBITDA margin to expand from 1.9% in 2019 to 5.0% in 2024 with a dip back into negative territory in 2020",
    "gold": "[Cause]  the segment will not break even on an operating margin basis until 2023 as the leverage in the model depends on scale [Relation] cause [Effect] EBITDA margin to expand from 1.9% in 2019 to 5.0% in 2024 with a dip back into negative territory in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the company's net interest margins to remain broadly stable as changes in interest rates impact both the company's interest expense and interest income.",
    "output": "[Cause] changes in interest rates impact both the company's interest expense and interest income [Relation] cause [Effect] the company's net interest margins to remain broadly stable",
    "gold": "[Cause] changes in interest rates impact both the company's interest expense and interest income [Relation] enable [Effect] the company's net interest margins to remain broadly stable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As commercial customers depend on quickly sourcing necessary parts in order to turn over service bays, a leading availability infrastructure like O'Reilly's is of tremendous value.",
    "output": "[Cause] commercial customers depend on quickly sourcing necessary parts in order to turn over service bays [Relation] cause [Effect] a leading availability infrastructure like O'Reilly's is of tremendous value",
    "gold": "[Cause] commercial customers depend on quickly sourcing necessary parts in order to turn over service bays [Relation] enable [Effect] a leading availability infrastructure like O'Reilly's is of tremendous value",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have lowered our fair value estimate for Fluor to $17.50 from $19 after the engineering and construction firm reported its fourth-quarter 2020 earnings.",
    "output": "[Cause] the engineering and construction firm reported its fourth-quarter 2020 earnings [Relation] cause [Effect] We have lowered our fair value estimate for Fluor to $17.50 from $19",
    "gold": "[Cause] the engineering and construction firm reported its fourth-quarter 2020 earnings [Relation] cause [Effect] We have lowered our fair value estimate for Fluor to $17.50 from $19",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our critical valuation assumption is that Boeing will steadily re-ramp production to a terminal rate of 73 MAXes per month in 2029, and that these production increases will be somewhat margin accretive to Spirit.",
    "output": "[Cause] Boeing will steadily re-ramp production to a terminal rate of 73 MAXes per month in 2029 [Relation] cause [Effect] these production increases will be somewhat margin accretive to Spirit",
    "gold": "[Cause] these production increases [Relation] cause [Effect] margin accretive to Spirit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This high level of failure and the required upfront investment by labels means that artists generally get a low percentage of royalties, 10%-15%, with more-established artists garnering high rates in their later contracts.",
    "output": "[Cause] This high level of failure and the required upfront investment by labels [Relation] cause [Effect] artists generally get a low percentage of royalties, 10%-15%, with more-established artists garnering high rates in their later contracts",
    "gold": "[Cause] This high level of failure and the required upfront investment by labels [Relation] enable [Effect] artists generally get a low percentage of royalties, 10%-15%, with more-established artists garnering high rates in their later contracts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In France, although Iliad made its entrance into the mobile market in 2012 and caused mobile pricing to structurally decline, this entrance was highly favored by regulators and we think it is unlikely the regulator will encourage additional entries.",
    "output": "[Cause] Iliad made its entrance into the mobile market in 2012 and caused mobile pricing to structurally decline [Relation] cause [Effect] this entrance was highly favored by regulators and we think it is unlikely the regulator will encourage additional entries",
    "gold": "[Cause]  Iliad made its entrance into the mobile market in 2012 [Relation] cause [Effect]  mobile pricing to structurally decline",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Hyatt's higher ownership exposure presents increase exposure to fluctuations in economic growth and is a risk to prospective shareholders.",
    "output": "[Cause] Hyatt's higher ownership exposure presents increase exposure to fluctuations in economic growth [Relation] cause [Effect] a risk to prospective shareholders",
    "gold": "[Cause] Hyatt's higher ownership exposure presents increase exposure to fluctuations in economic growth [Relation] cause [Effect] a risk to prospective shareholders",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Allegion's commercial track record is one factor that allows the firm to capture incremental sales as its commercial customers expand or retrofit existing security solutions.",
    "output": "[Cause] Allegion's commercial track record [Relation] enable [Effect] the firm to capture incremental sales as its commercial customers expand or retrofit existing security solutions",
    "gold": "[Cause] Allegion's commercial track record [Relation] cause [Effect]  the firm to capture incremental sales as its commercial customers expand or retrofit existing security solutions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The life span of AERs can approach 10 years, and Cantel is able to drive consistent product revenue through the sale of chemistry consumables that are required for each instance of reprocessing.",
    "output": "[Cause] the sale of chemistry consumables that are required for each instance of reprocessing [Relation] enable [Effect] Cantel is able to drive consistent product revenue",
    "gold": "[Cause]  the sale of chemistry consumables that are required for each instance of reprocessing [Relation] cause [Effect] Cantel is able to drive consistent product revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Verizon, AT&amp;T, and T-Mobile will see returns on capital shrink in 2021 thanks to the acquisition of additional wireless spectrum in the C-band auction.",
    "output": "[Cause] the acquisition of additional wireless spectrum in the C-band auction [Relation] cause [Effect] Verizon, AT&amp;T, and T-Mobile will see returns on capital shrink in 2021",
    "gold": "[Cause] the acquisition of additional wireless spectrum in the C-band auction [Relation] cause [Effect] Verizon, AT&amp;T, and T-Mobile will see returns on capital shrink in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The recovery in these elective procedures was faster and stronger than we'd originally anticipated, partially offset by marginal capacity constraints driven by hospitals instituting new pandemic infection control protocols that has slightly slowed down turnover of operating rooms.",
    "output": "[Cause] marginal capacity constraints driven by hospitals instituting new pandemic infection control protocols that has slightly slowed down turnover of operating rooms [Relation] prevent [Effect] The recovery in these elective procedures was faster and stronger than we'd originally anticipated",
    "gold": "[Cause] The recovery in these elective procedures [Relation] prevent [Effect]  turnover of operating rooms",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Following Ferguson's release of its fiscal third-quarter 2021 results, we've raised our fair value estimate for Ferguson's London-listed shares to GBX 7,700 per share from GBX 7,500 due to our stronger revenue growth and profitability outlook.",
    "output": "[Cause] our stronger revenue growth and profitability outlook [Relation] cause [Effect] we've raised our fair value estimate for Ferguson's London-listed shares to GBX 7,700 per share from GBX 7,500",
    "gold": "[Cause] our stronger revenue growth and profitability outlook [Relation] cause [Effect] we've raised our fair value estimate for Ferguson's London-listed shares to GBX 7,700 per share from GBX 7,500",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This moderate leverage will be supported largely by the IP segment, with some gains expected within EDA as a result of favorable secular tailwinds.",
    "output": "[Cause] favorable secular tailwinds [Relation] cause [Effect] some gains expected within EDA",
    "gold": "[Cause] favorable secular tailwinds [Relation] enable [Effect] some gains expected within EDA",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we see margin improvement opportunities as HD Supply expands its scale and becomes more efficient, we expect stranded costs related to the C&I divestiture (management estimates these costs to be 0.3% to 0.6% of sales) and acquisitions will be margin headwinds.",
    "output": "[Cause] HD Supply expands its scale and becomes more efficient [Relation] cause [Effect] margin improvement opportunities",
    "gold": "[Cause]  stranded costs [Relation] prevent [Effect]  acquisitions  |  margin improvement opportunities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we see margin improvement opportunities as HD Supply expands its scale and becomes more efficient, we expect stranded costs related to the C&I divestiture (management estimates these costs to be 0.3% to 0.6% of sales) and acquisitions will be margin headwinds.",
    "output": "[Cause] acquisitions [Relation] prevent [Effect] margin improvement opportunities",
    "gold": "[Cause]  acquisitions [Relation] prevent [Effect]  margin improvement opportunities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With more mobile and digital investments occurring constantly for the bank, we believe Huntington has a strong foundation to produce excess returns for years to come.",
    "output": "[Cause] more mobile and digital investments occurring constantly for the bank [Relation] cause [Effect] Huntington has a strong foundation to produce excess returns for years to come",
    "gold": "[Cause] more mobile and digital investments occurring constantly for the bank [Relation] cause [Effect] Huntington has a strong foundation to produce excess returns for years to come",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For commercial insurers, insuring industries with a high level of ESG risk could draw criticism and lead to lost revenue if the situation becomes unsustainable.",
    "output": "[Cause] insuring industries with a high level of ESG risk [Relation] cause [Effect] draw criticism",
    "gold": "[Cause] insuring industries with a high level of ESG risk [Relation] cause [Effect] draw criticism",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For commercial insurers, insuring industries with a high level of ESG risk could draw criticism and lead to lost revenue if the situation becomes unsustainable.",
    "output": "[Cause] the situation becomes unsustainable [Relation] cause [Effect] lost revenue",
    "gold": "[Cause] the situation becomes unsustainable [Relation] cause [Effect] lost revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company will see some costs return this year (including marketing, travel and insurance premiums), but we anticipate additional OR improvement to 76.4% as network density rises and on positive yield gains.",
    "output": "[Cause] network density rises and on positive yield gains [Relation] cause [Effect] additional OR improvement to 76.4%",
    "gold": "[Cause] network density rises and on positive yield gains [Relation] enable [Effect] additional OR improvement to 76.4%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Concurrently, the bank has been closing 70-100 branches per year, in part to fund the expansion, and in part to eliminate redundant operations.",
    "output": "[Cause] fund the expansion [Relation] cause [Effect] the bank has been closing 70-100 branches per year",
    "gold": "[Cause] fund the expansion [Relation] cause [Effect] the bank has been closing 70-100 branches per year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Concurrently, the bank has been closing 70-100 branches per year, in part to fund the expansion, and in part to eliminate redundant operations.",
    "output": "[Cause] fund the expansion [Relation] cause [Effect] the bank has been closing 70-100 branches per year",
    "gold": "[Cause] eliminate redundant operations [Relation] cause [Effect] the bank has been closing 70-100 branches per year",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While higher pricing is necessary to some extent to offset lower interest rates and a rise in social inflation, piricing increases appear to be more than offsetting these factors. As a result, commercial P&C insurers are experiencing a positive trend in underlying underwrting profitabiltiy, and we see potential for a truly hard pricing market, similar to the period that followed 9/11.",
    "output": "[Cause] While higher pricing is necessary to some extent to offset lower interest rates and a rise in social inflation, piricing increases appear to be more than offsetting these factors [Relation] cause [Effect] commercial P&C insurers are experiencing a positive trend in underlying underwrting profitabiltiy, and we see potential for a truly hard pricing market, similar to the period that followed 9/11",
    "gold": "[Cause] While higher pricing is necessary to some extent to offset lower interest rates and a rise in social inflation, piricing increases appear to be more than offsetting these factors [Relation] cause [Effect] commercial P&C insurers are experiencing a positive trend in underlying underwrting profitabiltiy, and we see potential for a truly hard pricing market, similar to the period that followed 9/11",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, KLA has been able to charge a premium for its specialized products, as competitors' offerings are generally not as advanced. This allows the firm to handle cyclical troughs fairly well for a company that operates in the chip equipment industry.",
    "output": "[Cause] KLA has been able to charge a premium for its specialized products, as competitors' offerings are generally not as advanced [Relation] enable [Effect] the firm to handle cyclical troughs fairly well for a company that operates in the chip equipment industry",
    "gold": "[Cause] KLA has been able to charge a premium for its specialized products, as competitors' offerings are generally not as advanced [Relation] enable [Effect] the firm to handle cyclical troughs fairly well for a company that operates in the chip equipment industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Combined with personalization, albeit more difficult in the current pandemic environment, pricing power is substantial and the contribution margin is rich, supporting higher profitability.",
    "output": "[Cause] Combined with personalization, albeit more difficult in the current pandemic environment, pricing power is substantial and the contribution margin is rich [Relation] enable [Effect] supporting higher profitability",
    "gold": "[Cause] Combined with personalization [Relation] cause [Effect]  more difficult in the current pandemic environment | pricing power is substantial and the contribution margin is rich | supporting higher profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As a result, BorgWarner has a large degree of operating leverage, so sudden declines in volume can have a meaningful impact on profit.",
    "output": "[Cause] BorgWarner has a large degree of operating leverage [Relation] cause [Effect] sudden declines in volume can have a meaningful impact on profit",
    "gold": "[Cause] BorgWarner has a large degree of operating leverage [Relation] cause [Effect] sudden declines in volume can have a meaningful impact on profit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It was fined CNY 18.2 billion in April 2021 for forcing merchants to choose its platform exclusively and required to curb its anticompetitive behavior.",
    "output": "[Cause] forcing merchants to choose its platform exclusively and required to curb its anticompetitive behavior [Relation] cause [Effect] It was fined CNY 18.2 billion in April 2021",
    "gold": "[Cause] forcing merchants to choose its platform exclusively and required to curb its anticompetitive behavior [Relation] cause [Effect] It was fined CNY 18.2 billion in April 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We find it impressive that West can post strong growth numbers while operating more efficiently, partly due to automation initiatives and partly from overall cost consolidation.",
    "output": "[Cause] overall cost consolidation [Relation] cause [Effect] West can post strong growth numbers while operating more efficiently",
    "gold": "[Cause]  overall cost consolidation [Relation] enable [Effect]  West can post strong growth numbers while operating more efficiently",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This includes growth trends in artificial intelligence and machine learning, which should continue to boost demand for dynamic power solutions in data centers.",
    "output": "[Cause] growth trends in artificial intelligence and machine learning [Relation] enable [Effect] boost demand for dynamic power solutions in data centers",
    "gold": "[Cause]  growth trends in artificial intelligence and machine learning [Relation] cause [Effect]  boost demand for dynamic power solutions in data centers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the pharmacy operations look likely to be negatively affected by continued declines in revenue per prescription processed, as PBMs continue to exert pressure on their pharmacy networks, including CVS' stores.",
    "output": "[Cause] PBMs continue to exert pressure on their pharmacy networks, including CVS' stores [Relation] cause [Effect] the pharmacy operations look likely to be negatively affected by continued declines in revenue per prescription processed",
    "gold": "[Cause] PBMs continue to exert pressure on their pharmacy networks, including CVS' stores [Relation] cause [Effect] the pharmacy operations look likely to be negatively affected by continued declines in revenue per prescription processed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given this disintermediation, these loans now often require ratings, giving Moody's another debt product for which it can provide its services and earn a fee.",
    "output": "[Cause] this disintermediation [Relation] cause [Effect] these loans now often require ratings",
    "gold": "[Cause] this disintermediation [Relation] cause [Effect]  these loans now often require ratings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the sweeteners and starches business and the nutrition business to benefit from the continued development of new products.",
    "output": "[Cause] the continued development of new products [Relation] enable [Effect] the sweeteners and starches business and the nutrition business to benefit",
    "gold": "[Cause] the sweeteners and starches business and the nutrition business [Relation] enable [Effect]  benefit from the continued development of new products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given capital-light kitchens relative to QSR and casual dining peers and a better than two to one ratio of annual sales to required cash outlay, Starbucks boasts extremely impressive cash on cash returns (53% in the U.S.",
    "output": "[Cause] capital-light kitchens relative to QSR and casual dining peers and a better than two to one ratio of annual sales to required cash outlay [Relation] cause [Effect] Starbucks boasts extremely impressive cash on cash returns",
    "gold": "[Cause] capital-light kitchens relative to QSR and casual dining peers and a better than two to one ratio of annual sales to required cash outlay [Relation] cause [Effect] Starbucks boasts extremely impressive cash on cash returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even if Orange is able to regain lost customers, it will probably be at lower price points, as customers get used to having \"\"\"\"more for less\"\"\"\" it is difficult to hike prices.",
    "output": "[Cause] customers get used to having \"\"\"\"more for less\"\"\"\"\"\" it is difficult to hike prices [Relation] cause [Effect] Even if Orange is able to regain lost customers, it will probably be at lower price points",
    "gold": "[Cause] get used to having \"\"\"\"more for less\"\"\"\" [Relation] cause [Effect] difficult to hike prices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We now forecast a 41% adjusted EBITDA margin in the last year of our forecast, up from 38% previously, on higher assumed merger cost savings.",
    "output": "[Cause] higher assumed merger cost savings [Relation] cause [Effect] a 41% adjusted EBITDA margin in the last year of our forecast, up from 38% previously",
    "gold": "[Cause] We now forecast a 41% adjusted EBITDA margin in the last year of our forecast, up from 38% previously [Relation] enable [Effect] on higher assumed merger cost savings",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This more confrontational stance could cause users to look for other platforms for their streaming needs, as we believe switching costs for consumers are modest.",
    "output": "[Cause] This more confrontational stance [Relation] cause [Effect] users to look for other platforms for their streaming needs",
    "gold": "[Cause] This more confrontational stance [Relation] cause [Effect] users to look for other platforms for their streaming needs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Food and Drug Administration requested changes to GeneSight's test offering, as Myriad faces greater scrutiny by the agency of the efficacy of psychotropic tests.",
    "output": "[Cause] Myriad faces greater scrutiny by the agency of the efficacy of psychotropic tests [Relation] cause [Effect] Food and Drug Administration requested changes to GeneSight's test offering",
    "gold": "[Cause] Myriad faces greater scrutiny by the agency of the efficacy of psychotropic tests [Relation] cause [Effect] Food and Drug Administration requested changes to GeneSight's test offering",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, the Solstice molecule's unique properties give it a low surface tension, but a high degree of solvency, allowing it to clean tight spaces.",
    "output": "[Cause] the Solstice molecule's unique properties [Relation] cause [Effect] a low surface tension",
    "gold": "[Cause]  the Solstice molecule's unique properties [Relation] cause [Effect] a low surface tension",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate the increased focus on interoperability policy of electronic medical records may pose incremental risk for Allscripts if all medical platforms are integrated to increase coordinated care.",
    "output": "[Cause] all medical platforms are integrated to increase coordinated care [Relation] cause [Effect] the increased focus on interoperability policy of electronic medical records may pose incremental risk for Allscripts",
    "gold": "[Cause] all medical platforms are integrated to increase coordinated care [Relation] cause [Effect]  the increased focus on interoperability policy of electronic medical records may pose incremental risk for Allscripts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our base case, Guardant sees an immediate sales uptake in 2024 once its Lunar-2 colorectal early screening test gets FDA approval, with the firm's top-line growth averaging about 25% through our forecast period after market approval.",
    "output": "[Cause] its Lunar-2 colorectal early screening test gets FDA approval [Relation] cause [Effect] Guardant sees an immediate sales uptake in 2024",
    "gold": "[Cause] our forecast period after market approval [Relation] enable [Effect] the firm's top-line growth averaging about 25%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Continual investment in innovation and the ability to commercialize technology are requisite to achieving any pricing leverage in the automotive supply base.",
    "output": "[Cause] Continual investment in innovation and the ability to commercialize technology [Relation] enable [Effect] achieving any pricing leverage in the automotive supply base",
    "gold": "[Cause] Continual investment in innovation and the ability to commercialize technology [Relation] enable [Effect] achieving any pricing leverage in the automotive supply base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe value-added asset-based services such as impact portfolios, tax overlays, and direct indexing present a meaningful growth opportunity for the firm.",
    "output": "[Cause] value-added asset-based services such as impact portfolios, tax overlays, and direct indexing [Relation] enable [Effect] a meaningful growth opportunity for the firm",
    "gold": "[Cause] value-added asset-based services such as impact portfolios, tax overlays, and direct indexing [Relation] enable [Effect] a meaningful growth opportunity for the firm",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Having larger banks helps to spread out fixed costs across a larger operating base, increasing operating efficiency, as the four largest Canadian banks are all bigger than the largest U.S.",
    "output": "[Cause] Having larger banks [Relation] enable [Effect] spreading out fixed costs across a larger operating base, increasing operating efficiency",
    "gold": "[Cause]  larger banks [Relation] enable [Effect] spread out fixed costs across a larger operating base, increasing operating efficiency",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, in contrast with its larger rivals, LivaNova relies heavily on a narrow set of products, raising the probability that any single product recall could materially affect projected cash flows.",
    "output": "[Cause] LivaNova relies heavily on a narrow set of products [Relation] cause [Effect] raising the probability that any single product recall could materially affect projected cash flows",
    "gold": "[Cause] LivaNova relies heavily on a narrow set of products [Relation] cause [Effect] raising the probability that any single product recall could materially affect projected cash flows",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe there is a legitimate risk that the deal is not approved by regulators, as the merger would remove the firm that for all intents and purposes brought a fourth competitor to the wireless industry.",
    "output": "[Cause] the merger would remove the firm [Relation] cause [Effect] a fourth competitor to the wireless industry",
    "gold": "[Cause]  the merger would remove the firm [Relation] cause [Effect]  the deal is not approved by regulators",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe there is a legitimate risk that the deal is not approved by regulators, as the merger would remove the firm that for all intents and purposes brought a fourth competitor to the wireless industry.",
    "output": "[Cause] the merger would remove the firm [Relation] cause [Effect] a fourth competitor to the wireless industry",
    "gold": "[Cause]  the merger would remove the firm [Relation] cause [Effect] a fourth competitor to the wireless industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Glaxo's entrenched vaccines and consumer healthcare franchises create an added layer of competitive advantage stemming from cost advantages in creating vaccines and brand power in the consumer group.",
    "output": "[Cause] cost advantages in creating vaccines and brand power in the consumer group [Relation] cause [Effect] Glaxo's entrenched vaccines and consumer healthcare franchises create an added layer of competitive advantage",
    "gold": "[Cause] Glaxo's entrenched vaccines and consumer healthcare franchise [Relation] cause [Effect]  create an added layer of competitive advantage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, two of the firm's largest customers (PepsiCo and Walmart) each account for about 11%-12% of total sales, which could place McCormick in a vulnerable bargaining position.",
    "output": "[Cause] two of the firm's largest customers (PepsiCo and Walmart) each account for about 11%-12% of total sales [Relation] cause [Effect] place McCormick in a vulnerable bargaining position",
    "gold": "[Cause] two of the firm's largest customers (PepsiCo and Walmart) each account for about 11%-12% of total sales [Relation] cause [Effect] place McCormick in a vulnerable bargaining position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Winning a contract to supply a major component or system for a global vehicle program requires a supplier with a substantial global manufacturing presence.",
    "output": "[Cause] a supplier with a substantial global manufacturing presence [Relation] enable [Effect] Winning a contract to supply a major component or system for a global vehicle program",
    "gold": "[Cause] a supplier with a substantial global manufacturing presence [Relation] enable [Effect] Winning a contract to supply a major component or system for a global vehicle program",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the need for further production differentiation will drive increasing amounts of competition from Western Digital, Toshiba, and others.",
    "output": "[Cause] the need for further production differentiation [Relation] cause [Effect] increasing amounts of competition from Western Digital, Toshiba, and others",
    "gold": "[Cause] the need for further production differentiation [Relation] cause [Effect] increasing amounts of competition from Western Digital, Toshiba, and others",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Clients face significant switching costs, with SocGen in control of clients' full vehicle fleets and all the related data points.",
    "output": "[Cause] SocGen in control of clients' full vehicle fleets and all the related data points [Relation] cause [Effect] Clients face significant switching costs",
    "gold": "[Cause] SocGen in control of clients' full vehicle fleets and all the related data points [Relation] cause [Effect] Clients face significant switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If interest rates increase faster than expected, Targa shares could underperform, as a steepening yield curve increases expected distribution yield for competing assets.",
    "output": "[Cause] a steepening yield curve increases expected distribution yield for competing assets [Relation] cause [Effect] Targa shares could underperform",
    "gold": "[Cause] a steepening yield curve increases expected distribution yield for competing assets [Relation] cause [Effect] Targa shares could underperform",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The planned carve-up of Oi among Movil, TIM, and Vivo, if approved by regulators, should improve the competitive situation, allowing for better pricing.",
    "output": "[Cause] The planned carve-up of Oi among Movil, TIM, and Vivo [Relation] enable [Effect] improve the competitive situation",
    "gold": "[Cause] The planned carve-up of Oi among Movil, TIM, and Vivo [Relation] cause [Effect] improve the competitive situation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The planned carve-up of Oi among Movil, TIM, and Vivo, if approved by regulators, should improve the competitive situation, allowing for better pricing.",
    "output": "[Cause] improve the competitive situation [Relation] enable [Effect] better pricing",
    "gold": "[Cause] improve the competitive situation [Relation] cause [Effect] better pricing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we estimate this exit, combined with the expected divestiture of natural gas distribution utilities in Oklahoma and Arkansas, will pressure earnings, it provides capital for annual utility rate base growth that we estimate will be 9.6% from 2020-25.",
    "output": "[Cause] this exit, combined with the expected divestiture of natural gas distribution utilities in Oklahoma and Arkansas [Relation] cause [Effect] pressure earnings",
    "gold": "[Cause] exit, combined with the expected divestiture of natural gas distribution utilities in Oklahoma and Arkansas, [Relation] cause [Effect] pressure earnings, it provides capital for annual utility rate base growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Fluctuating prices for key commodities the company extracts and sells has been a constant risk for Waste Management's recycling operations (5% of 2019 revenue), and the business has been adversely affected by China's import restrictions, which have pressured recycled commodity prices.",
    "output": "[Cause] Fluctuating prices for key commodities the company extracts and sells [Relation] cause [Effect] pressured recycled commodity prices",
    "gold": "[Cause] by China's import restrictions, which have pressured recycled commodity prices [Relation] enable [Effect] business has been adversely affected",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Since then, the firm has masterfully integrated the two businesses, pursued additional high-quality spectrum, and deployed new wireless technologies. As a result, its network performance has improved dramatically, providing both better geographic coverage and capacity, meeting a higher proportion of customer needs in more places.",
    "output": "[Cause] the firm has masterfully integrated the two businesses, pursued additional high-quality spectrum, and deployed new wireless technologies [Relation] cause [Effect] its network performance has improved dramatically, providing both better geographic coverage and capacity, meeting a higher proportion of customer needs in more places",
    "gold": "[Cause] the firm has masterfully integrated the two businesses, pursued additional high-quality spectrum, and deployed new wireless technologies [Relation] cause [Effect] its network performance has improved dramatically, providing both better geographic coverage and capacity, meeting a higher proportion of customer needs in more places",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Margins dipped to 13% in 2019 and 2020, but in the medium term, we anticipate healthy operating leverage to bring operating margins to management's target of 15%-17% by 2023 and 19% by 2025.",
    "output": "[Cause] healthy operating leverage [Relation] enable [Effect] bring operating margins to management's target of 15%-17% by 2023 and 19% by 2025",
    "gold": "[Cause] healthy operating leverage [Relation] enable [Effect] bring operating margins to management's target of 15%-17% by 2023 and 19% by 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In fact, we expect these pressures to become even more pronounced in the years to come, especially as surviving upscale fast-casual (''fast-fine'') concepts mature and new casual dining rivals attempt to replicate Olive Garden's recent success.",
    "output": "[Cause] surviving upscale fast-casual (''fast-fine'') concepts mature and new casual dining rivals attempt to replicate Olive Garden's recent success [Relation] cause [Effect] these pressures to become even more pronounced in the years to come",
    "gold": "[Cause] surviving upscale fast-casual (''fast-fine'') concepts mature and new casual dining rivals attempt to replicate Olive Garden's recent success [Relation] cause [Effect]  these pressures to become even more pronounced in the years to come",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "COVID-19 caused a global economic recession in calendar 2020, and Estee's fiscal 2020 sales fell 4%, but we expect a 16% rebound in 2021, as skincare sales has proven resilient.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] a global economic recession in calendar 2020",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] a global economic recession in calendar 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also do not assume any further expansion of Medicaid into currently non-expansion states, so if more states expand into that program to cover more working-aged, low-income adults, there could be upside to our estimates in Medicaid.",
    "output": "[Cause] more states expand into that program to cover more working-aged, low-income adults [Relation] cause [Effect] upside to our estimates in Medicaid",
    "gold": "[Cause] more states expand into that program to cover more working-aged, low-income adults [Relation] cause [Effect] upside to our estimates in Medicaid",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to the risks a software switch entails in mission critical functions, we think there's much inertia in remaining a 'Creo shop.'PTC's PLM solution, Windchill, can be thought of as the repository of all info about a given product, including specifications and information on supply sourcing.",
    "output": "[Cause] the risks a software switch entails in mission critical functions [Relation] cause [Effect] there's much inertia in remaining a 'Creo shop",
    "gold": "[Cause]  the risks a software switch entails in mission critical functions [Relation] cause [Effect]  there's much inertia in remaining a 'Creo shop",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lower prices hurt gross profit margins, but volume gains, especially among higher-margin spot buys and midsize accounts, have offset price reductions and helped the company meet its 12%-13% operating margin goal by 2019 (12.1% adjusted operating margin in 2019).",
    "output": "[Cause] Lower prices [Relation] prevent [Effect] gross profit margins",
    "gold": "[Cause] Lower prices [Relation] prevent [Effect] gross profit margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the ongoing demand for content, we believe film and television content creation is not a zero-sum game, as quality content will always find an outlet.",
    "output": "[Cause] quality content will always find an outlet [Relation] cause [Effect] film and television content creation is not a zero-sum game",
    "gold": "[Cause] quality content will always find an outlet [Relation] cause [Effect] film and television content creation is not a zero-sum game",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Entergy's utilities would have to spend unbudgeted capital to restore service and might not recover all of those costs through higher rates in a reasonable amount of time.",
    "output": "[Cause] Entergy's utilities would have to spend unbudgeted capital to restore service [Relation] cause [Effect] might not recover all of those costs through higher rates in a reasonable amount of time",
    "gold": "[Cause]  restore service [Relation] cause [Effect] Entergy's utilities would have to spend unbudgeted capital",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Oneok experienced more volume volatility than peers in 2020, as natural gas liquids volumes in the Rockies fell more than 20% sequentially in the second quarter but recovered to well above pre-COVID-19 levels by the end of the year.",
    "output": "[Cause] natural gas liquids volumes in the Rockies fell more than 20% sequentially in the second quarter but recovered to well above pre-COVID-19 levels by the end of the year [Relation] cause [Effect] Oneok experienced more volume volatility than peers in 2020",
    "gold": "[Cause] natural gas liquids volumes in the Rockies fell more than 20% sequentially in the second quarter but recovered to well above pre-COVID-19 levels by the end of the year [Relation] cause [Effect] Oneok experienced more volume volatility than peers in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Burger King and Tim Horton's see same store sales fall roughly in line with inflation, each sees mid-to-high single-digit system sales growth as they collectively add nearly 9,500 units over the next 10 years.",
    "output": "[Cause] they collectively add nearly 9,500 units over the next 10 years [Relation] cause [Effect] each sees mid-to-high single-digit system sales growth",
    "gold": "[Cause] they collectively add nearly 9,500 units over the next 10 years [Relation] enable [Effect] each sees mid-to-high single-digit system sales growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Intel's manufacturing struggles have also led to major customers such as Apple, Amazon, and Microsoft developing their own ARM-based CPUs for PCs and servers, which is likely to curb overall growth for Intel's core CPU business.",
    "output": "[Cause] Intel's manufacturing struggles [Relation] cause [Effect] major customers such as Apple, Amazon, and Microsoft developing their own ARM-based CPUs for PCs and servers",
    "gold": "[Cause] Intel's manufacturing struggles [Relation] cause [Effect] major customers such as Apple, Amazon, and Microsoft developing their own ARM-based CPUs for PCs and servers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Intel's manufacturing struggles have also led to major customers such as Apple, Amazon, and Microsoft developing their own ARM-based CPUs for PCs and servers, which is likely to curb overall growth for Intel's core CPU business.",
    "output": "[Cause] Intel's manufacturing struggles [Relation] cause [Effect] major customers such as Apple, Amazon, and Microsoft developing their own ARM-based CPUs for PCs and servers",
    "gold": "[Cause] Intel's manufacturing struggles have also led to major customers such as Apple, Amazon, and Microsoft developing their own ARM-based CPUs for PCs and servers [Relation] prevent [Effect] overall growth for Intel's core CPU business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our pretax cost of debt assumption is 6.5%, incorporating the spread creditors are likely to demand given the company's credit profile.",
    "output": "[Cause] the company's credit profile [Relation] cause [Effect] incorporating the spread creditors are likely to demand",
    "gold": "[Cause] incorporating the spread creditors are likely to demand given the company's credit profile [Relation] cause [Effect] Our pretax cost of debt assumption is 6.5%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we believe Hain had historically not been selective but attempted to maximize revenue by playing in all categories, ultimately harming revenue growth, given its inadequate brand support.",
    "output": "[Cause] its inadequate brand support [Relation] cause [Effect] Hain had historically not been selective but attempted to maximize revenue by playing in all categories",
    "gold": "[Cause] Hain had historically not been selective but attempted to maximize revenue by playing in all categories [Relation] prevent [Effect] revenue growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we believe Hain had historically not been selective but attempted to maximize revenue by playing in all categories, ultimately harming revenue growth, given its inadequate brand support.",
    "output": "[Cause] its inadequate brand support [Relation] cause [Effect] ultimately harming revenue growth",
    "gold": "[Cause] its inadequate brand support [Relation] cause [Effect] Hain had historically not been selective but attempted to maximize revenue by playing in all categories",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "At some point in the future, we expect there will be a tipping point at which the consumer is no longer willing to accept price increases above the broader rate of inflation, leading to an increase in price elasticity.",
    "output": "[Cause] the consumer is no longer willing to accept price increases above the broader rate of inflation [Relation] cause [Effect] an increase in price elasticity",
    "gold": "[Cause]  the consumer is no longer willing to accept price increases above the broader rate of inflation [Relation] cause [Effect]  an increase in price elasticity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Longer term, our adjusted EBIT is forecast to grow 5% per year to GBP 2.4 billion in 2025. This is driven by revenue growth as a result of low-single-digit increases in global defense spending and the contribution of the recent acquisition of the Collins GPS and Raytheon Radio businesses.",
    "output": "[Cause] revenue growth as a result of low-single-digit increases in global defense spending and the contribution of the recent acquisition of the Collins GPS and Raytheon Radio businesses [Relation] cause [Effect] Longer term, our adjusted EBIT is forecast to grow 5% per year to GBP 2.4 billion in 2025",
    "gold": "[Cause]  revenue growth as a result of low-single-digit increases in global defense spending and the contribution of the recent acquisition of the Collins GPS and Raytheon Radio businesses [Relation] enable [Effect] Longer term, our adjusted EBIT is forecast to grow 5% per year to GBP 2.4 billion in 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For its level of economic development, Germany has one of the lowest-performing broadband networks in EU, mainly because of limited fiber investments.",
    "output": "[Cause] limited fiber investments [Relation] cause [Effect] Germany has one of the lowest-performing broadband networks in EU",
    "gold": "[Cause] limited fiber investments [Relation] cause [Effect] Germany has one of the lowest-performing broadband networks in EU",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A little over half of Corteva's crop chemicals sales come from herbicides, which complement GMO seeds and should see increased demand.",
    "output": "[Cause] complement GMO seeds [Relation] cause [Effect] increased demand",
    "gold": "[Cause] complement GMO seeds [Relation] cause [Effect] increased demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Humira sales declines in 2023, the rate of decline will likely be more gradual than a typical small molecule-branded drug facing generic competition, because of the complexities in developing and marketing a biosimilar (generic biologic).",
    "output": "[Cause] the complexities in developing and marketing a biosimilar (generic biologic) [Relation] cause [Effect] Humira sales declines in 2023, the rate of decline will likely be more gradual than a typical small molecule-branded drug facing generic competition",
    "gold": "[Cause] the complexities in developing and marketing a biosimilar (generic biologic) [Relation] cause [Effect] Humira sales declines in 2023, the rate of decline will likely be more gradual than a typical small molecule-branded drug facing generic competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, we forecast net charge-offs will normalize at roughly 0.7% of loans over the long run, although we expect heightened credit costs in 2020 and 2021 due to the effects of COVID-19.",
    "output": "[Cause] the effects of COVID-19 [Relation] cause [Effect] heightened credit costs in 2020 and 2021",
    "gold": "[Cause]  the effects of COVID-19 [Relation] cause [Effect] heightened credit costs in 2020 and 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If concessionaires, subconcessionaires, or satellite casinos want to expand their gaming operations, they have to apply for tables from the Macao government.",
    "output": "[Cause] concessionaires, subconcessionaires, or satellite casinos want to expand their gaming operations [Relation] cause [Effect] they have to apply for tables from the Macao government",
    "gold": "[Cause] concessionaires, subconcessionaires, or satellite casinos want to expand their gaming operations [Relation] enable [Effect] they have to apply for tables from the Macao government",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Improving e-commerce sales has been a point of emphasis for Paccar's management team, which led to initiatives to significantly improve its online ordering system.",
    "output": "[Cause] Improving e-commerce sales has been a point of emphasis for Paccar's management team [Relation] cause [Effect] initiatives to significantly improve its online ordering system",
    "gold": "[Cause] Improving e-commerce sales has been a point of emphasis for Paccar's management team [Relation] cause [Effect] initiatives to significantly improve its online ordering system",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The operating margin is likely to expand after 2021 and during 2024, as lower growth in operating expenses (driven by more automation of content, data, and user monitoring), coupled with revenue growth, will create operating leverage.",
    "output": "[Cause] lower growth in operating expenses (driven by more automation of content, data, and user monitoring), coupled with revenue growth [Relation] cause [Effect] The operating margin is likely to expand after 2021 and during 2024",
    "gold": "[Cause] lower growth in operating expenses (driven by more automation of content, data, and user monitoring), coupled with revenue growth [Relation] enable [Effect] create operating leverage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The operating margin is likely to expand after 2021 and during 2024, as lower growth in operating expenses (driven by more automation of content, data, and user monitoring), coupled with revenue growth, will create operating leverage.",
    "output": "[Cause] revenue growth [Relation] cause [Effect] create operating leverage",
    "gold": "[Cause] create operating leverage [Relation] enable [Effect] The operating margin is likely to expand after 2021 and during 2024",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This imperative of doing business in often poor political environments creates unique counterparty risk for oilfield-services companies, as demonstrated most visibly in Venezuela in recent years.",
    "output": "[Cause] This imperative of doing business in often poor political environments [Relation] cause [Effect] unique counterparty risk for oilfield-services companies",
    "gold": "[Cause] This imperative of doing business in often poor political environments creates unique counterparty risk for oilfield-services companies [Relation] enable [Effect]  as demonstrated most visibly in Venezuela in recent years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Pipeline competition is growing as drug manufacturers flock to the lucrative autoimmune market, but Alexion's first-mover status, as well as Ultomiris and its related pipeline, mitigate its risk.",
    "output": "[Cause] drug manufacturers flock to the lucrative autoimmune market [Relation] cause [Effect] Pipeline competition is growing",
    "gold": "[Cause] drug manufacturers flock to the lucrative autoimmune market [Relation] cause [Effect] Pipeline competition is growing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have lifted our long-term tax rate assumption to 31% from 26% in anticipation of a corporate tax increase in the United States.",
    "output": "[Cause] a corporate tax increase in the United States [Relation] cause [Effect] We have lifted our long-term tax rate assumption to 31% from 26%",
    "gold": "[Cause] We have lifted our long-term tax rate assumption to 31% from 26% in anticipation [Relation] cause [Effect]  corporate tax increase in the United States",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While concentration in communications could make Amphenol susceptible to a broader downturn, we think this is well divided between devices, wireless networks, wired data, and broadband and that these markets shouldn't experience simultaneous demand trends.",
    "output": "[Cause] concentration in communications [Relation] cause [Effect] Amphenol susceptible to a broader downturn",
    "gold": "[Cause] concentration in communications could make Amphenol susceptible to a broader downturn [Relation] cause [Effect] this is well divided between devices, wireless networks, wired data, and broadband and that these markets shouldn't experience simultaneous demand trends",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Even a few cases led to quarantines of entire facilities, which caused dramatic declines in occupancy over the past few several quarters.",
    "output": "[Cause] Even a few cases led to quarantines of entire facilities [Relation] cause [Effect] dramatic declines in occupancy over the past few quarters",
    "gold": "[Cause] Even a few cases led to quarantines of entire facilities [Relation] cause [Effect] dramatic declines in occupancy over the past few several quarters",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think the existence of switching costs is supported by the high retention rate the firm has historically experienced among its client base.",
    "output": "[Cause] the high retention rate the firm has historically experienced among its client base [Relation] enable [Effect] the existence of switching costs",
    "gold": "[Cause]  the existence of switching costs [Relation] enable [Effect] the high retention rate the firm has historically experienced among its client base",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The Canadian banks, because their branch networks spread throughout the country, arguably have some of the most powerful distribution networks within Canada.",
    "output": "[Cause] their branch networks spread throughout the country [Relation] cause [Effect] arguably have some of the most powerful distribution networks within Canada",
    "gold": "[Cause] their branch networks spread throughout the country [Relation] cause [Effect] arguably have some of the most powerful distribution networks within Canada",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In response to a recent court case ordering Shell to reduce emissions beyond its existing targets, management indicated it will likely accelerate its strategy, not materially alter it.",
    "output": "[Cause] a recent court case ordering Shell to reduce emissions beyond its existing targets [Relation] cause [Effect] management indicated it will likely accelerate its strategy",
    "gold": "[Cause] In response to a recent court case ordering Shell [Relation] enable [Effect] reduce emissions beyond its existing targets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In response to a recent court case ordering Shell to reduce emissions beyond its existing targets, management indicated it will likely accelerate its strategy, not materially alter it.",
    "output": "[Cause] management indicated it will likely accelerate its strategy [Relation] cause [Effect] not materially alter it",
    "gold": "[Cause] reduce emissions beyond its existing targets [Relation] enable [Effect] management indicated it will likely accelerate its strategy, not materially alter it",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As of March, loan-loss allowances accounted for 8.7% of total loans, which we view as an appropriate level given the uncertainty associated with the Brazilian macroeconomic environment.",
    "output": "[Cause] the uncertainty associated with the Brazilian macroeconomic environment [Relation] cause [Effect] loan-loss allowances accounted for 8.7% of total loans",
    "gold": "[Cause] the uncertainty associated with the Brazilian macroeconomic environment [Relation] enable [Effect] we view as an appropriate level",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe Under Armour lacks the design talent, marketing, and resources to take share from Nike and Adidas in international markets and athletic shoe categories.",
    "output": "[Cause] Under Armour lacks the design talent, marketing, and resources [Relation] prevent [Effect] take share from Nike and Adidas in international markets and athletic shoe categories",
    "gold": "[Cause] Under Armour lacks the design talent, marketing, and resources [Relation] prevent [Effect] take share from Nike and Adidas in international markets and athletic shoe categories",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, we believe regional casinos will continue to place competitive pressures on the Las Vegas region, resulting in low ROICs.",
    "output": "[Cause] regional casinos will continue to place competitive pressures on the Las Vegas region [Relation] cause [Effect] low ROICs",
    "gold": "[Cause]  regional casinos will continue to place competitive pressures on the Las Vegas region [Relation] cause [Effect] low ROICs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That can lead to higher gross margins on a favorable mix shift to service but also cause selling, general, and administrative deleveraging.",
    "output": "[Cause] a favorable mix shift to service [Relation] cause [Effect] higher gross margins",
    "gold": "[Cause] a favorable mix shift to service [Relation] cause [Effect]  higher gross margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That can lead to higher gross margins on a favorable mix shift to service but also cause selling, general, and administrative deleveraging.",
    "output": "[Cause] a favorable mix shift to service [Relation] cause [Effect] higher gross margins",
    "gold": "[Cause] a favorable mix shift to service [Relation] cause [Effect]  selling, general, and administrative deleveraging",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "It also reached an agreement to sell its Speedway segment in August 2020 for $16.5 billion after tax, which represents a good deal for shareholders and a premium to publicly traded peers, releasing value for shareholders as the embedded value of Speedway was well below that level.",
    "output": "[Cause] the embedded value of Speedway was well below that level [Relation] cause [Effect] releasing value for shareholders",
    "gold": "[Cause] the embedded value of Speedway was well below that level [Relation] cause [Effect] releasing value for shareholders",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The default rate has been low, and we believe its high resale value, ample secondary market, and extensive dealer network can make it effective for Komatsu to collect the machinery and recover most of the losses even if a default occurs.",
    "output": "[Cause] its high resale value, ample secondary market, and extensive dealer network [Relation] enable [Effect] make it effective for Komatsu to collect the machinery and recover most of the losses even if a default occurs",
    "gold": "[Cause] its high resale value, ample secondary market, and extensive dealer network [Relation] enable [Effect] make it effective for Komatsu to collect the machinery and recover most of the losses even if a default occurs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Interconnect's revenue is largely project-based, so a competitor with a breakthrough technology might be able take share on new projects and significantly hurt Interconnect's ability to generate an economic profit.",
    "output": "[Cause] Interconnect's revenue is largely project-based [Relation] cause [Effect] a competitor with a breakthrough technology might be able take share on new projects and significantly hurt Interconnect's ability to generate an economic profit",
    "gold": "[Cause] Interconnect's revenue is largely project-based [Relation] enable [Effect] a competitor with a breakthrough technology might be able take share on new projects and significantly hurt Interconnect's ability to generate an economic profit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Covidien and J&J dominate a number of surgical specialties with the breadth of their portfolios, rendering competitors' efforts to displace them on cost on an individual product basis less meaningful.",
    "output": "[Cause] the breadth of their portfolios [Relation] cause [Effect] Covidien and J&J dominate a number of surgical specialties",
    "gold": "[Cause]  the breadth of their portfolios [Relation] enable [Effect] Covidien and J&J dominate a number of surgical specialties",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe smaller local and regional competitors will struggle to win market share in agriculture and construction end markets globally, allowing Deere to maintain its strong market share positions.",
    "output": "[Cause] smaller local and regional competitors will struggle to win market share in agriculture and construction end markets globally [Relation] enable [Effect] Deere to maintain its strong market share positions",
    "gold": "[Cause] smaller local and regional competitors will struggle to win market share in agriculture and construction end markets globally [Relation] enable [Effect] Deere to maintain its strong market share positions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But as described above, we believe the diffusion of digital devices and the Internet have been changing printing behavior and the printing business model in developed nations, and competition in emerging markets will be fiercer.",
    "output": "[Cause] the diffusion of digital devices and the Internet have been changing printing behavior and the printing business model in developed nations [Relation] cause [Effect] competition in emerging markets will be fiercer",
    "gold": "[Cause] the diffusion of digital devices and the Internet have been changing printing behavior and the printing business model in developed nations [Relation] cause [Effect] competition in emerging markets will be fiercer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think top-line growth will slow materially from the exceptional growth of 2018-20, averaging 2.5% from 2021 to 2025, due to slowing budgetary growth and the IT services divestiture.",
    "output": "[Cause] slowing budgetary growth and the IT services divestiture [Relation] cause [Effect] top-line growth will slow materially from the exceptional growth of 2018-20, averaging 2.5% from 2021 to 2025",
    "gold": "[Cause] slowing budgetary growth and the IT services divestiture [Relation] cause [Effect] top-line growth will slow materially from the exceptional growth of 2018-20, averaging 2.5% from 2021 to 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate Valvoline continues to benefit from premiumization and its strong brand, though limited volume growth long-term and conventional oil competition should restrain margins.",
    "output": "[Cause] limited volume growth long-term and conventional oil competition [Relation] prevent [Effect] margins",
    "gold": "[Cause] limited volume growth long-term and conventional oil competition should restrain margins [Relation] prevent [Effect] We anticipate Valvoline continues to benefit from premiumization and its strong brand,",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Regulation related to Roundup also represents a risk to the company as Scotts markets Roundup under an agreement with Bayer (Monsanto).",
    "output": "[Cause] Scotts markets Roundup under an agreement with Bayer (Monsanto) [Relation] cause [Effect] Regulation related to Roundup also represents a risk to the company",
    "gold": "[Cause] Scotts markets Roundup under an agreement with Bayer (Monsanto) [Relation] cause [Effect] Regulation related to Roundup also represents a risk to the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over this period, we've projected the TMTT portfolio to reach $950 million in revenue by 2025. This is driven by adoption of PASCAL and Cardioband, indication expansion, and a 50% probability that one of the transcatheter mitral replacement devices in development is approved.",
    "output": "[Cause] adoption of PASCAL and Cardioband, indication expansion, and a 50% probability that one of the transcatheter mitral replacement devices in development is approved [Relation] cause [Effect] the TMTT portfolio to reach $950 million in revenue by 2025",
    "gold": "[Cause] adoption of PASCAL and Cardioband, indication expansion, and a 50% probability that one of the transcatheter mitral replacement devices in development is approved [Relation] enable [Effect]  the TMTT portfolio to reach $950 million in revenue by 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A sudden shock to the firm's supply chain would likely slow down production at Hexcel as well as the rest of the aviation supply chain.",
    "output": "[Cause] A sudden shock to the firm's supply chain [Relation] cause [Effect] slow down production at Hexcel as well as the rest of the aviation supply chain",
    "gold": "[Cause] A sudden shock to the firm's supply chain [Relation] cause [Effect] slow down production at Hexcel as well as the rest of the aviation supply chain",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Today, the company employs a more disciplined approach to pricing, allowing it to take better advantage of its economies of scale.",
    "output": "[Cause] the company employs a more disciplined approach to pricing [Relation] enable [Effect] take better advantage of its economies of scale",
    "gold": "[Cause] the company employs a more disciplined approach to pricing [Relation] enable [Effect] take better advantage of its economies of scale",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, we expect the highway brokerage market to grow at a faster clip (on average over our forecast horizon) than the combined for-hire trucking and intermodal markets, as large 3PLs continue to process more for-hire truckload and less-than-truckload freight.",
    "output": "[Cause] large 3PLs continue to process more for-hire truckload and less-than-truckload freight [Relation] cause [Effect] the highway brokerage market to grow at a faster clip (on average over our forecast horizon) than the combined for-hire trucking and intermodal markets",
    "gold": "[Cause]  large 3PLs continue to process more for-hire truckload and less-than-truckload freight [Relation] cause [Effect]  the highway brokerage market to grow at a faster clip (on average over our forecast horizon) than the combined for-hire trucking and intermodal markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we do not expect resultant mid-single-digit revenue growth and resulting cost leverage to significantly improve margins from fiscal 2020's 12%, due to competition, wage pressure, and the need to keep perceived value high.",
    "output": "[Cause] competition, wage pressure, and the need to keep perceived value high [Relation] cause [Effect] resultant mid-single-digit revenue growth and resulting cost leverage to significantly improve margins from fiscal 2020's 12%",
    "gold": "[Cause] competition, wage pressure, and the need to keep perceived value high [Relation] prevent [Effect] resultant mid-single-digit revenue growth and resulting cost leverage to significantly improve margins from fiscal 2020's 12%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Norfolk hauls coal directly from Illinois and Appalachian mines, and transfers Powder River Basin coal eastward from the Western rails. Thus, coal-demand headwinds from cheap natural gas and changes in environmental regulations will probably remain a factor in the years ahead.",
    "output": "[Cause] Norfolk hauls coal directly from Illinois and Appalachian mines, and transfers Powder River Basin coal eastward from the Western rails [Relation] cause [Effect] coal-demand headwinds from cheap natural gas and changes in environmental regulations will probably remain a factor in the years ahead",
    "gold": "[Cause] Norfolk hauls coal directly from Illinois and Appalachian mines, and transfers Powder River Basin coal eastward from the Western rails [Relation] cause [Effect] coal-demand headwinds from cheap natural gas and changes in environmental regulations will probably remain a factor in the years ahead",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although this price/earnings multiple is historically high, we note that NiSorce's near-term earnings are depressed due to the impact of COVID-19 and dilution from a recent convertible issuance to provide funding for future investment in renewable energy.",
    "output": "[Cause] the impact of COVID-19 and dilution from a recent convertible issuance to provide funding for future investment in renewable energy [Relation] cause [Effect] NiSorce's near-term earnings are depressed",
    "gold": "[Cause] the impact of COVID-19 and dilution from a recent convertible issuance to provide funding for future investment in renewable energy [Relation] prevent [Effect] NiSorce's near-term earnings are depressed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And despite recent headwinds, Kimberly-Clark had been on a course to improve its sales trajectory before the pandemic by elevating brand spending and enhancing its prospects in emerging markets and online since CEO Michael Hsu took the helm in January 2019.",
    "output": "[Cause] elevating brand spending and enhancing its prospects in emerging markets and online since CEO Michael Hsu took the helm in January 2019 [Relation] enable [Effect] improve its sales trajectory before the pandemic",
    "gold": "[Cause] Kimberly-Clark had been on a course to improve its sales trajectory before the pandemic [Relation] cause [Effect] elevating brand spending and enhancing its prospects in emerging markets and online since CEO Michael Hsu took the helm in January 2019",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For instance, although the company's New York City focus has paid off amid a boom in office-using employment, Vornado decided to exit the struggling Washington, D.C., market because of its exposure to less dynamic sectors of the economy.",
    "output": "[Cause] its exposure to less dynamic sectors of the economy [Relation] cause [Effect] Vornado decided to exit the struggling Washington, D.C., market",
    "gold": "[Cause]  its exposure to less dynamic sectors of the economy [Relation] cause [Effect]  Vornado decided to exit the struggling Washington, D.C., market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Aside from 3M's legacy strength, the acquisition of Acelity should also provide 3M with a much stronger footing in the negative wound care market and mid-single-digit top-line growth.",
    "output": "[Cause] the acquisition of Acelity [Relation] enable [Effect] provide 3M with a much stronger footing in the negative wound care market and mid-single-digit top-line growth",
    "gold": "[Cause] the acquisition of Acelity [Relation] cause [Effect] provide 3M with a much stronger footing in the negative wound care market and mid-single-digit top-line growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The two entities have sold security for virtual instances, and we expect more product partnerships to be announced as security and cloud-based computing continues its rampant growth.",
    "output": "[Cause] security and cloud-based computing continues its rampant growth [Relation] cause [Effect] more product partnerships to be announced",
    "gold": "[Cause] security and cloud-based computing continues its rampant growth [Relation] cause [Effect] more product partnerships to be announced",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, nearly one quarter of its sales result from the convenience and drug store channels, where traffic trends have been a bit more restricted due to social distancing mandates.",
    "output": "[Cause] social distancing mandates [Relation] cause [Effect] traffic trends have been a bit more restricted",
    "gold": "[Cause]  social distancing mandates [Relation] cause [Effect] traffic trends have been a bit more restricted",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, with its more commercially focused book, it boasts good share in its domestic commercial lending market, particularly for loans under CAD 25 million.",
    "output": "[Cause] its more commercially focused book [Relation] enable [Effect] it boasts good share in its domestic commercial lending market",
    "gold": "[Cause] its more commercially focused book [Relation] cause [Effect] it boasts good share in its domestic commercial lending market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The modified framework reduces regulatory lag, increasing OG&E's realized returns on invested capital, and is another sign that Oklahoma regulation is becoming more constructive.",
    "output": "[Cause] The modified framework [Relation] enable [Effect] Oklahoma regulation is becoming more constructive",
    "gold": "[Cause] modified framework [Relation] cause [Effect] increasing OG&E's realized returns on invested capital",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As construction activity increases and capacity utilization grows increasingly constrained, we expect further robust pricing increases, driving margin expansion and improved ROICs.",
    "output": "[Cause] construction activity increases and capacity utilization grows increasingly constrained [Relation] cause [Effect] further robust pricing increases",
    "gold": "[Cause] construction activity increases and capacity utilization grows increasingly constrained [Relation] cause [Effect] further robust pricing increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As construction activity increases and capacity utilization grows increasingly constrained, we expect further robust pricing increases, driving margin expansion and improved ROICs.",
    "output": "[Cause] further robust pricing increases [Relation] enable [Effect] driving margin expansion and improved ROICs",
    "gold": "[Cause] further robust pricing increases [Relation] enable [Effect] driving margin expansion and improved ROICs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Philips also sells portable systems that allow hospitals to shift the patient from intensive care units to normal wards without switching off the patient monitor systems, avoiding the loss of data.",
    "output": "[Cause] Philips also sells portable systems [Relation] enable [Effect] hospitals to shift the patient from intensive care units to normal wards without switching off the patient monitor systems",
    "gold": "[Cause] portable systems [Relation] prevent [Effect] the loss of data",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect that as sponsorship spending 7 Jul 2021 05:00, UTCwill rebound in 2020, causing sponsorship revenue to grow to 7% above 2019 levels.",
    "output": "[Cause] UTCwill rebound in 2020 [Relation] cause [Effect] sponsorship revenue to grow to 7% above 2019 levels",
    "gold": "[Cause] UTCwill rebound in 2020 [Relation] cause [Effect] sponsorship revenue to grow to 7% above 2019 levels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Right now, we believe that this threat could have minimal effect since EOS software having one image throughout the entire network installation is well received versus competitors' offerings, which have different software images across the network.",
    "output": "[Cause] EOS software having one image throughout the entire network installation is well received versus competitors' offerings, which have different software images across the network [Relation] cause [Effect] this threat could have minimal effect",
    "gold": "[Cause] since EOS software having one image throughout the entire network installation | which have different software images across the network. [Relation] enable [Effect]  is well received versus competitors' offerings,",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Cyclical downturns in freight demand compress profitability because excess capacity drives providers to slash rates in an attempt to salvage asset utilization, particularly in asset-intensive truckload shipping.",
    "output": "[Cause] excess capacity drives providers to slash rates in an attempt to salvage asset utilization, particularly in asset-intensive truckload shipping [Relation] cause [Effect] Cyclical downturns in freight demand compress profitability",
    "gold": "[Cause] excess capacity drives providers to slash rates in an attempt to salvage asset utilization, particularly in asset-intensive truckload shipping [Relation] cause [Effect] Cyclical downturns in freight demand compress profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Decades of investment in advanced manufacturing capabilities and a track record of managing complex projects and supply chains cement its, and other incumbents', positions as preferred partners.",
    "output": "[Cause] Decades of investment in advanced manufacturing capabilities and a track record of managing complex projects and supply chains [Relation] enable [Effect] cement its, and other incumbents', positions as preferred partners",
    "gold": "[Cause] Decades of investment in advanced manufacturing capabilities and a track record of managing complex projects and supply chains [Relation] enable [Effect] cement its, and other incumbents', positions as preferred partners",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Premium trucks such as those made by Paccar can be used as recruitment and retention tools as a lower-cost alternative to increasing wages.",
    "output": "[Cause] Premium trucks such as those made by Paccar can be used as recruitment and retention tools [Relation] enable [Effect] a lower-cost alternative to increasing wages",
    "gold": "[Cause] Premium trucks such as those made by Paccar can be used as recruitment and retention tools [Relation] enable [Effect] a lower-cost alternative to increasing wages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Omnichannel ordering and a 21-million-member loyalty program constitute a strong foundation for dynamic pricing, one-to-one marketing, funneling orders toward high-margin fulfillment channels, and driving data-driven menu innovation in line with customer demands.",
    "output": "[Cause] Omnichannel ordering and a 21-million-member loyalty program [Relation] enable [Effect] a strong foundation for dynamic pricing, one-to-one marketing, funneling orders toward high-margin fulfillment channels, and driving data-driven menu innovation in line with customer demands",
    "gold": "[Cause] Omnichannel ordering and a 21-million-member loyalty program [Relation] cause [Effect] a strong foundation for dynamic pricing, one-to-one marketing, funneling orders toward high-margin fulfillment channels, and driving data-driven menu innovation in line with customer demands",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As more prominent, large hospital systems, like Kaiser, begin using AMN services, this affords the firm strong reference points and subsequent positive reputational effects that can help it land new clients.",
    "output": "[Cause] affords the firm strong reference points and subsequent positive reputational effects [Relation] enable [Effect] help it land new clients",
    "gold": "[Cause] affords the firm strong reference points and subsequent positive reputational effects [Relation] cause [Effect] help it land new clients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the FCC has extended these deadlines to 2023 as part of the T-Mobile/Sprint transactions, Dish still must build a nearly nationwide network, a costly undertaking that could bankrupt the company.",
    "output": "[Cause] Dish still must build a nearly nationwide network [Relation] cause [Effect] bankrupt the company",
    "gold": "[Cause] Dish still must build a nearly nationwide network [Relation] enable [Effect]  bankrupt the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At the very least, this customer segment would probably slow hiring or make cuts to its employee base, which would provide a revenue headwind for Paylocity.",
    "output": "[Cause] this customer segment would probably slow hiring or make cuts to its employee base [Relation] cause [Effect] provide a revenue headwind for Paylocity",
    "gold": "[Cause]  this customer segment would probably slow hiring or make cuts to its employee base [Relation] enable [Effect] provide a revenue headwind for Paylocity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project Disney's overall operating margin will improve to 18.4% in fiscal 2025 from 5.8% in fiscal 2020 as the losses at the DTC segment are offset by margin improvements at the studio and parks segments after recovering from the impact of the COVID-19 pandemic.",
    "output": "[Cause] the losses at the DTC segment are offset by margin improvements at the studio and parks segments after recovering from the impact of the COVID-19 pandemic [Relation] cause [Effect] Disney's overall operating margin will improve to 18.4% in fiscal 2025 from 5.8% in fiscal 2020",
    "gold": "[Cause] the losses at the DTC segment are offset by margin improvements at the studio and parks segments after recovering from the impact of the COVID-19 pandemic [Relation] cause [Effect]  Disney's overall operating margin will improve to 18.4% in fiscal 2025 from 5.8% in fiscal 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project Disney's overall operating margin will improve to 18.4% in fiscal 2025 from 5.8% in fiscal 2020 as the losses at the DTC segment are offset by margin improvements at the studio and parks segments after recovering from the impact of the COVID-19 pandemic.",
    "output": "[Cause] margin improvements at the studio and parks segments after recovering from the impact of the COVID-19 pandemic [Relation] cause [Effect] Disney's overall operating margin will improve to 18.4% in fiscal 2025 from 5.8% in fiscal 2020",
    "gold": "[Cause] margin improvements at the studio and parks segments after recovering from the impact of the COVID-19 pandemic [Relation] cause [Effect] the losses at the DTC segment are offset",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, technological advances continually improve networking efficiency and enable less costly solutions to store and transport data. Consequently, even in Lumen's enterprise businesses, which accounts for roughly 75% of total revenue, we think revenue is likely to continue declining.",
    "output": "[Cause] technological advances continually improve networking efficiency and enable less costly solutions to store and transport data [Relation] cause [Effect] even in Lumen's enterprise businesses, which accounts for roughly 75% of total revenue, we think revenue is likely to continue declining",
    "gold": "[Cause] technological advances continually improve networking efficiency and enable less costly solutions to store and transport data [Relation] cause [Effect] even in Lumen's enterprise businesses, which accounts for roughly 75% of total revenue, we think revenue is likely to continue declining",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nordstrom's full-price sales plummeted 30% in 2020 due to the COVID-19 outbreak and the closure of 16 stores, but we anticipate a 27% sales increase in 2021.",
    "output": "[Cause] the COVID-19 outbreak and the closure of 16 stores [Relation] cause [Effect] Nordstrom's full-price sales plummeted 30% in 2020",
    "gold": "[Cause]  the COVID-19 outbreak and the closure of 16 stores [Relation] cause [Effect] Nordstrom's full-price sales plummeted 30% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "One of the issues with the subscription model for streaming music is the paid users are likely to consume more hours of music, thus generating high royalty expenses.",
    "output": "[Cause] the paid users are likely to consume more hours of music [Relation] cause [Effect] generating high royalty expenses",
    "gold": "[Cause] the paid users are likely to consume more hours of music [Relation] cause [Effect] generating high royalty expenses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Old \"\"\"\"national champions\"\"\"\" usually have advantageous positions compared with alternative operators as they already have infrastructure in place and often have long-standing relationships with the government.",
    "output": "[Cause] they already have infrastructure in place and often have long-standing relationships with the government [Relation] cause [Effect] Old \"\"\"\"national champions\"\"\" usually have advantageous positions compared with alternative operators",
    "gold": "[Cause] they already have infrastructure in place and often have long-standing relationships with the government [Relation] cause [Effect] Old \"\"\"\"national champions\"\"\"\" usually have advantageous positions compared with alternative operators",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe that Vontier's strategy of tapping into its large installed base by adding complementary software reinforces customer switching costs by offering petroleum stations a comprehensive package of solutions.",
    "output": "[Cause] adding complementary software [Relation] enable [Effect] Vontier's strategy of tapping into its large installed base",
    "gold": "[Cause] offering petroleum stations a comprehensive package of solutions [Relation] cause [Effect] reinforces customer switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe that Vontier's strategy of tapping into its large installed base by adding complementary software reinforces customer switching costs by offering petroleum stations a comprehensive package of solutions.",
    "output": "[Cause] offering petroleum stations a comprehensive package of solutions [Relation] enable [Effect] reinforces customer switching costs",
    "gold": "[Cause]  adding complementary software [Relation] cause [Effect] Vontier's strategy of tapping into its large installed base",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Autoliv's customers would incur prohibitively high switching costs should they decide to withdraw business in the middle of a vehicle program, especially when Autoliv has a supply agreement for a complete set of passive safety systems.",
    "output": "[Cause] they decide to withdraw business in the middle of a vehicle program [Relation] cause [Effect] Autoliv's customers would incur prohibitively high switching costs",
    "gold": "[Cause]  Autoliv has a supply agreement for a complete set of passive safety systems [Relation] enable [Effect] Autoliv's customers would incur prohibitively high switching costs should they decide to withdraw business in the middle of a vehicle program",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We still believe nonperforming loans will increase once government support is withdrawn, but we believe BNP Paribas has raised more than enough provisions to cover this.",
    "output": "[Cause] government support is withdrawn [Relation] cause [Effect] nonperforming loans will increase",
    "gold": "[Cause] government support is withdrawn [Relation] cause [Effect] nonperforming loans will increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast total room growth to average 2.2% (2.5% prior) on average over the next 10 years, driven by continued optimism around La Quinta's long-term growth opportunity.",
    "output": "[Cause] continued optimism around La Quinta's long-term growth opportunity [Relation] cause [Effect] total room growth to average 2.2% (2.5% prior) on average over the next 10 years",
    "gold": "[Cause] continued optimism around La Quinta's long-term growth opportunity [Relation] cause [Effect] total room growth to average 2.2% (2.5% prior) on average over the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Viewership of its races could fall below expectations, and advertisers could pull back on their spending, both of which would make the series less attractive to broadcasters.",
    "output": "[Cause] Viewership of its races could fall below expectations, and advertisers could pull back on their spending [Relation] cause [Effect] make the series less attractive to broadcasters",
    "gold": "[Cause] Viewership of its races could fall below expectations, and advertisers could pull back on their spending [Relation] cause [Effect]  make the series less attractive to broadcasters",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project adjusted EBITDA margins expanding by about 250 basis points over the next five years, primarily due to expected cost synergies from the merger.",
    "output": "[Cause] expected cost synergies from the merger [Relation] cause [Effect] adjusted EBITDA margins expanding by about 250 basis points over the next five years",
    "gold": "[Cause] expected cost synergies from the merger [Relation] cause [Effect]  adjusted EBITDA margins expanding by about 250 basis points over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Following fourth-quarter results, we are raising our margin forecasts to give Kansas City Southern more credit for solid PSR-related execution given the firm's steady efficiency gains and improved profit outlook.",
    "output": "[Cause] the firm's steady efficiency gains and improved profit outlook [Relation] cause [Effect] we are raising our margin forecasts",
    "gold": "[Cause] fourth-quarter results [Relation] enable [Effect] raising our margin forecasts",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This makes it critical that the Bolsonaro government solve the pension crisis and continue to address these issues--any decrease in the value of Brazilian government bonds will weigh heavily on the company's insurance operations.",
    "output": "[Cause] any decrease in the value of Brazilian government bonds [Relation] cause [Effect] weigh heavily on the company's insurance operations",
    "gold": "[Cause] Brazilian government bonds will weigh heavily on the company's insurance operations. [Relation] cause [Effect] This makes it critical that the Bolsonaro government solve the pension crisis and continue to address these issues",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Cost AdvantageDiageo can produce its scale brands at a lower average cost than most of its competitors as well as potential new entrants.",
    "output": "[Cause] Cost AdvantageDiageo can produce its scale brands at a lower average cost than most of its competitors as well as potential new entrants [Relation] enable [Effect] Cost AdvantageDiageo",
    "gold": "[Cause] Cost AdvantageDiageo [Relation] enable [Effect] its scale brands at a lower average cost than most of its competitors as well as potential new entrants",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With semiconductor fabrication becoming increasingly complex, resulting in more process steps and new manufacturing technologies, collaboration between chipmakers and equipment providers is set to reach unprecedented levels.",
    "output": "[Cause] semiconductor fabrication becoming increasingly complex [Relation] cause [Effect] more process steps and new manufacturing technologies, collaboration between chipmakers and equipment providers is set to reach unprecedented levels",
    "gold": "[Cause] semiconductor fabrication becoming increasingly complex [Relation] cause [Effect] more process steps and new manufacturing technologies, collaboration between chipmakers and equipment providers is set to reach unprecedented levels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Last, we altered our long-term operating margin, now set to rise to 13%, from 11.5% prior, as Williams-Sonoma leverages costs on higher sales ahead benefiting from category expansions.",
    "output": "[Cause] Williams-Sonoma leverages costs on higher sales ahead benefiting from category expansions [Relation] cause [Effect] we altered our long-term operating margin, now set to rise to 13%, from 11.5% prior",
    "gold": "[Cause] Williams-Sonoma leverages costs on higher sales ahead benefiting from category expansions [Relation] enable [Effect] we altered our long-term operating margin, now set to rise to 13%, from 11.5% prior",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through a combination of cost savings and expected top-line growth, Lilly aims to reach operating margins of 31% by 2020, which we believe is achievable.",
    "output": "[Cause] a combination of cost savings and expected top-line growth [Relation] enable [Effect] reach operating margins of 31% by 2020",
    "gold": "[Cause] a combination of cost savings and expected top-line growth [Relation] enable [Effect] reach operating margins of 31% by 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Market fragmentation and relatively short contract durations (typically about six months) lend power to buyers that may take their business elsewhere should they determine services rendered or pricing offered were unsatisfactory.",
    "output": "[Cause] Market fragmentation and relatively short contract durations (typically about six months) [Relation] enable [Effect] lend power to buyers that may take their business elsewhere should they determine services rendered or pricing offered were unsatisfactory",
    "gold": "[Cause] they determine services rendered or pricing offered were unsatisfactory [Relation] enable [Effect] buyers that may take their business elsewhere",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The risks of additional waves of COVID-19 cases and elongated time until a vaccine is widely distributed remain, which could delay our forecast recovery in demand.",
    "output": "[Cause] The risks of additional waves of COVID-19 cases and elongated time until a vaccine is widely distributed remain [Relation] cause [Effect] delay our forecast recovery in demand",
    "gold": "[Cause] The risks of additional waves of COVID-19 cases and elongated time until a vaccine is widely distributed remain [Relation] prevent [Effect] delay our forecast recovery in demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think this opportunity is particularly pronounced in the context of its brand reach, as nearly all of its 30 brands are sold in the U.S., but only 15 have launched in China, 10 in India, and nine in Brazil.",
    "output": "[Cause] nearly all of its 30 brands are sold in the U.S., but only 15 have launched in China, 10 in India, and nine in Brazil [Relation] cause [Effect] this opportunity is particularly pronounced in the context of its brand reach",
    "gold": "[Cause]  nearly all of its 30 brands are sold in the U.S., but only 15 have launched in China, 10 in India, and nine in Brazil [Relation] cause [Effect]  this opportunity is particularly pronounced in the context of its brand reach",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Enabling an innovation like high-power charging allows Amphenol to occupy a larger portion of the overall bill of materials, both through incorporating more SKUs and through selling higher-tech, higher-priced SKUs—we estimate Amphenol's dollar content in an EV to double its content in an internal combustion engine, or ICE.",
    "output": "[Cause] Enabling an innovation like high-power charging [Relation] enable [Effect] Amphenol to occupy a larger portion of the overall bill of materials, both through incorporating more SKUs and through selling higher-tech, higher-priced SKUs",
    "gold": "[Cause] incorporating more SKUs and through selling higher-tech, higher-priced SKUs [Relation] enable [Effect] we estimate Amphenol's dollar content in an EV to double its content in an internal combustion engine, or ICE.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While competing firms have AIDC software for device management and ad hoc applications, Zebra has shown a commitment to building out advanced machine learning and AI capabilities to extract further efficiency gains at its customers.",
    "output": "[Cause] building out advanced machine learning and AI capabilities [Relation] enable [Effect] extract further efficiency gains at its customers",
    "gold": "[Cause] building out advanced machine learning and AI capabilities [Relation] enable [Effect] extract further efficiency gains at its customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Governments and defense departments are reluctant to switch providers mid-programme as it is costly, disruptive, politically unpopular, or there is a complete lack of an alternative provider.",
    "output": "[Cause] it is costly, disruptive, politically unpopular, or there is a complete lack of an alternative provider [Relation] cause [Effect] Governments and defense departments are reluctant to switch providers mid-programme",
    "gold": "[Cause]  it is costly, disruptive, politically unpopular, or there is a complete lack of an alternative provider [Relation] cause [Effect] Governments and defense departments are reluctant to switch providers mid-programme",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But the San Bruno pipeline explosion in September 2010, allegations of gas pipeline mismanagement, and 2017-18 wildfire liabilities have sunk PG&E's earned returns on capital.",
    "output": "[Cause] the San Bruno pipeline explosion in September 2010, allegations of gas pipeline mismanagement, and 2017-18 wildfire liabilities [Relation] cause [Effect] sunk PG&E's earned returns on capital",
    "gold": "[Cause] the San Bruno pipeline explosion in September 2010, allegations of gas pipeline mismanagement, and 2017-18 wildfire liabilities [Relation] cause [Effect] sunk PG&E's earned returns on capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also think the mission-critical nature of the systems into which Sensata sells gives rise to switching costs at customers, leading to an average relationship length of 31 years with its top 10 customers.",
    "output": "[Cause] the mission-critical nature of the systems into which Sensata sells [Relation] cause [Effect] rise to switching costs at customers",
    "gold": "[Cause] the mission-critical nature of the systems into which Sensata sells [Relation] cause [Effect] rise to switching costs at customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also think the mission-critical nature of the systems into which Sensata sells gives rise to switching costs at customers, leading to an average relationship length of 31 years with its top 10 customers.",
    "output": "[Cause] the mission-critical nature of the systems into which Sensata sells [Relation] cause [Effect] an average relationship length of 31 years with its top 10 customers",
    "gold": "[Cause] the mission-critical nature of the systems into which Sensata sells [Relation] cause [Effect] an average relationship length of 31 years with its top 10 customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Land option contracts--which grant homebuilders the right, but generally not the obligation, to buy land at predetermined prices--can mitigate many of the risks associated with outright land purchases.",
    "output": "[Cause] Land option contracts [Relation] enable [Effect] mitigate many of the risks associated with outright land purchases",
    "gold": "[Cause] Land option contracts [Relation] enable [Effect] mitigate many of the risks associated with outright land purchases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nonperforming loan ratios have steadily declined for almost all Japanese banks over the past decade as interest rates have fallen and following many years of relatively slow credit growth.",
    "output": "[Cause] interest rates have fallen and following many years of relatively slow credit growth [Relation] cause [Effect] Nonperforming loan ratios have steadily declined for almost all Japanese banks over the past decade",
    "gold": "[Cause] interest rates have fallen and following many years of relatively slow credit growth [Relation] cause [Effect] Nonperforming loan ratios have steadily declined for almost all Japanese banks over the past decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the relatively fixed-cost nature of Equifax's operations and less amount of scale, we do believe Equifax's EBITDA margins will improve but still trail the core U.S.",
    "output": "[Cause] the relatively fixed-cost nature of Equifax's operations and less amount of scale [Relation] cause [Effect] Equifax's EBITDA margins will improve but still trail the core U.S",
    "gold": "[Cause] the relatively fixed-cost nature of Equifax's operations and less amount of scale [Relation] cause [Effect] Equifax's EBITDA margins will improve but still trail the core U.S",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, while Kroger sells aggregated insights and not customer contact information or purchasing history, a breach could rapidly impair the value of its transaction information.",
    "output": "[Cause] a breach [Relation] prevent [Effect] rapidly impair the value of its transaction information",
    "gold": "[Cause]  a breach [Relation] prevent [Effect]  rapidly impair the value of its transaction information",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Food and Drug Administration (FDA) requested changes to GeneSight's test offering, as Myriad faces greater scrutiny by the agency of the efficacy of psychotropic tests.",
    "output": "[Cause] Myriad faces greater scrutiny by the agency of the efficacy of psychotropic tests [Relation] cause [Effect] Food and Drug Administration (FDA) requested changes to GeneSight's test offering",
    "gold": "[Cause] Myriad faces greater scrutiny by the agency of the efficacy of psychotropic tests [Relation] cause [Effect] Food and Drug Administration (FDA) requested changes to GeneSight's test offering",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Continued international expansion will likely require similar investment and management attention but will also increase exposure to different regulatory environments.",
    "output": "[Cause] Continued international expansion [Relation] cause [Effect] require similar investment and management attention",
    "gold": "[Cause] Continued international expansion [Relation] enable [Effect] require similar investment and management attention",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Continued international expansion will likely require similar investment and management attention but will also increase exposure to different regulatory environments.",
    "output": "[Cause] Continued international expansion [Relation] cause [Effect] increase exposure to different regulatory environments",
    "gold": "[Cause] Continued international expansion [Relation] enable [Effect] increase exposure to different regulatory environments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, we like Comerica's longer-term prospects as the rate environment normalizes and the bank builds an improved cost base and extracts value from its deep, advisor-style relationships with small and midsize business clients.",
    "output": "[Cause] the rate environment normalizes and the bank builds an improved cost base and extracts value from its deep, advisor-style relationships with small and midsize business clients [Relation] cause [Effect] Comerica's longer-term prospects",
    "gold": "[Cause] the rate environment normalizes and the bank builds an improved cost base and extracts value from its deep, advisor-style relationships with small and midsize business clients [Relation] enable [Effect]  Comerica's longer-term prospects",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company has been pursuing growth organically and through its acquisitions in the corporate outsourcing space. As a result of this growth, we expect Cushman & Wakefield to benefit modestly from scale effects across its business lines, with a countervailing effect deriving from the fact that the current downturn will lower commercial real estate investment volumes.",
    "output": "[Cause] The company has been pursuing growth organically and through its acquisitions in the corporate outsourcing space [Relation] cause [Effect] Cushman & Wakefield to benefit modestly from scale effects across its business lines, with a countervailing effect deriving from the fact that the current downturn will lower commercial real estate investment volumes",
    "gold": "[Cause] The company has been pursuing growth organically and through its acquisitions in the corporate outsourcing space [Relation] cause [Effect] Cushman & Wakefield to benefit modestly from scale effects across its business lines, with a countervailing effect deriving from the fact that the current downturn will lower commercial real estate investment volumes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our model reflects significantly lower near-term revenue growth and operating margin assumptions due to the economic slowdown sparked by the coronavirus outbreak.",
    "output": "[Cause] the economic slowdown sparked by the coronavirus outbreak [Relation] cause [Effect] significantly lower near-term revenue growth and operating margin assumptions",
    "gold": "[Cause] the economic slowdown sparked by the coronavirus outbreak [Relation] cause [Effect] significantly lower near-term revenue growth and operating margin assumptions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The dynamic could work to Kroger's benefit or detriment; if execution is strong, it could benefit from smaller grocers' struggle to keep pace, but if its ability to retain customers falters, the chain could find itself with too many stores and persistently diminishing economics.",
    "output": "[Cause] execution is strong [Relation] cause [Effect] benefit from smaller grocers' struggle to keep pace",
    "gold": "[Cause] execution is strong [Relation] cause [Effect] benefit from smaller grocers' struggle to keep pace",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The dynamic could work to Kroger's benefit or detriment; if execution is strong, it could benefit from smaller grocers' struggle to keep pace, but if its ability to retain customers falters, the chain could find itself with too many stores and persistently diminishing economics.",
    "output": "[Cause] its ability to retain customers falters [Relation] cause [Effect] the chain could find itself with too many stores and persistently diminishing economics",
    "gold": "[Cause]  its ability to retain customers falters [Relation] cause [Effect] the chain could find itself with too many stores and persistently diminishing economics",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Job-site delivery, in-app ordering, and a capacity for high-volume orders saves time for customers and allows for premium product pricing.",
    "output": "[Cause] Job-site delivery, in-app ordering, and a capacity for high-volume orders [Relation] enable [Effect] saves time for customers",
    "gold": "[Cause] Job-site delivery, in-app ordering, and a capacity for high-volume orders [Relation] enable [Effect] saves time for customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Job-site delivery, in-app ordering, and a capacity for high-volume orders saves time for customers and allows for premium product pricing.",
    "output": "[Cause] Job-site delivery, in-app ordering, and a capacity for high-volume orders [Relation] enable [Effect] premium product pricing",
    "gold": "[Cause] Job-site delivery, in-app ordering, and a capacity for high-volume orders [Relation] enable [Effect] premium product pricing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we expect Facebook's cost of goods to decline at the same rate as its revenue in 2020, we see the remaining costs growing faster and lowering the operating margin in 2020.",
    "output": "[Cause] the remaining costs growing faster and lowering the operating margin in 2020 [Relation] cause [Effect] Facebook's cost of goods to decline at the same rate as its revenue in 2020",
    "gold": "[Cause] the remaining costs growing faster [Relation] cause [Effect] lowering the operating margin in 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect freight demand to continue recovering in 2021, with revenue rising around 8% on solid intermodal growth (aided by unusually tight truckload market capacity and robust retailer restocking in the first half), automotive volume recovery, and industrial end-market improvement.",
    "output": "[Cause] solid intermodal growth (aided by unusually tight truckload market capacity and robust retailer restocking in the first half), automotive volume recovery, and industrial end-market improvement [Relation] enable [Effect] freight demand to continue recovering in 2021, with revenue rising around 8%",
    "gold": "[Cause] unusually tight truckload market capacity and robust retailer restocking in the first half [Relation] enable [Effect] solid intermodal growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "From an environmental, social, and governance perspective, risks include failure to comply with environmental, health and safety, and anti-bribery regulations; the firm's ability to attract and retain qualified technical personnel; and execution challenges resulting in cost overruns on fixed-price contracts.",
    "output": "[Cause] failure to comply with environmental, health and safety, and anti-bribery regulations; the firm's ability to attract and retain qualified technical personnel; and execution challenges resulting in cost overruns on fixed-price contracts [Relation] cause [Effect] risks",
    "gold": "[Cause] execution challenges [Relation] cause [Effect] cost overruns on fixed-price contracts",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we expect that since Raytheon Technologies is more exposed to the resilient narrow-body market, the firm will be able to rebound reasonably quickly, we recognize the pandemic presents a substantial near-term risk as commercial passenger traffic has declined immensely.",
    "output": "[Cause] Raytheon Technologies is more exposed to the resilient narrow-body market [Relation] cause [Effect] the firm will be able to rebound reasonably quickly",
    "gold": "[Cause] Raytheon Technologies is more exposed to the resilient narrow-body market [Relation] cause [Effect] the firm will be able to rebound reasonably quickly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nike has limited advantage in product costs as virtually all its production is outsourced to more than 400 independent factories in about 40 countries.",
    "output": "[Cause] virtually all its production is outsourced to more than 400 independent factories in about 40 countries [Relation] cause [Effect] Nike has limited advantage in product costs",
    "gold": "[Cause]  virtually all its production is outsourced to more than 400 independent factories in about 40 countries [Relation] cause [Effect] Nike has limited advantage in product costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Coach attains high gross margins in an extremely crowded category because consumers view its products as being of high quality and fashionable and are willing to pay extra for its products.",
    "output": "[Cause] consumers view its products as being of high quality and fashionable and are willing to pay extra for its products [Relation] cause [Effect] Coach attains high gross margins in an extremely crowded category",
    "gold": "[Cause] consumers view its products as being of high quality and fashionable and are willing to pay extra for its products [Relation] enable [Effect] Coach attains high gross margins in an extremely crowded category",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As an example, a brand like Prada would not be willing to be the only luxury brand on the platform of cheaper or lesser-known peers, as such a network wouldn't attract the right target audience, or worse even, have a damaging, \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"cheapening\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" effect on the brand.",
    "output": "[Cause] such a network wouldn't attract the right target audience, or worse even, have a damaging, \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"cheapening\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"",
    "gold": "[Cause] such a network wouldn't attract the right target audience, or worse even, have a damaging, \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"cheapening\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" effect on the brand [Relation] enable [Effect] a brand like Prada would not be willing to be the only luxury brand on the platform of cheaper or lesser-known peers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Established brands like Deere and Case IH (a CNH brand) were instrumental in mechanizing crop production and boosting farmers' productivity; which led to strong brand loyalty among farmers.",
    "output": "[Cause] Established brands like Deere and Case IH (a CNH brand) were instrumental in mechanizing crop production and boosting farmers' productivity [Relation] cause [Effect] strong brand loyalty among farmers",
    "gold": "[Cause] Established brands like Deere and Case IH (a CNH brand) were instrumental in mechanizing crop production and boosting farmers' productivity [Relation] cause [Effect] strong brand loyalty among farmers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Part of the success of U.S.-based investment banks in recent years was due to the pullback from European investment banks, as they scaled down their investment banking operations or continued repairing their balance sheets.",
    "output": "[Cause] the pullback from European investment banks [Relation] cause [Effect] Part of the success of U.S.-based investment banks in recent years",
    "gold": "[Cause] the pullback from European investment banks [Relation] enable [Effect] Part of the success of U.S.-based investment banks in recent years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Part of the success of U.S.-based investment banks in recent years was due to the pullback from European investment banks, as they scaled down their investment banking operations or continued repairing their balance sheets.",
    "output": "[Cause] the pullback from European investment banks [Relation] cause [Effect] Part of the success of U.S.-based investment banks in recent years",
    "gold": "[Cause]  they scaled down their investment banking operations or continued repairing their balance sheets [Relation] cause [Effect] Part of the success of U.S.-based investment banks in recent years was due to the pullback from European investment banks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Field service engineers that are on-site at customer fabs help troubleshoot high-value problems to improve yields and output, ultimately driving productivity and reducing cost.",
    "output": "[Cause] Field service engineers that are on-site at customer fabs [Relation] enable [Effect] troubleshoot high-value problems",
    "gold": "[Cause] yields and output [Relation] cause [Effect] driving productivity and reducing cost",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Field service engineers that are on-site at customer fabs help troubleshoot high-value problems to improve yields and output, ultimately driving productivity and reducing cost.",
    "output": "[Cause] troubleshoot high-value problems [Relation] enable [Effect] improve yields and output",
    "gold": "[Cause] Field service engineers that are on-site at customer fabs [Relation] enable [Effect] troubleshoot high-value problems to improve yields and output",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, we forecast gross and operating margins of 55.8% and 19.5%, respectively, down from 55.9% and 22.3% last year, as the lower store sales and discounting reduces cost leverage.",
    "output": "[Cause] the lower store sales and discounting reduces cost leverage [Relation] cause [Effect] gross and operating margins of 55.8% and 19.5%, respectively, down from 55.9% and 22.3% last year",
    "gold": "[Cause] the lower store sales and discounting reduces cost leverage [Relation] cause [Effect] forecast gross and operating margins of 55.8% and 19.5%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, given the uncertain nature of the timing of any such deals, we currently do not factor in future acquisitions into our model.",
    "output": "[Cause] the uncertain nature of the timing of any such deals [Relation] cause [Effect] we currently do not factor in future acquisitions into our model",
    "gold": "[Cause] the uncertain nature of the timing of any such deals [Relation] cause [Effect] we currently do not factor in future acquisitions into our model",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Strong cash generation has enabled the firm to increase its dividend for over the past half century, and we expect this to continue.",
    "output": "[Cause] Strong cash generation [Relation] enable [Effect] the firm to increase its dividend for over the past half century",
    "gold": "[Cause] Strong cash generation [Relation] enable [Effect] the firm to increase its dividend for over the past half century",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These strengths have helped Home Depot deliver adjusted average returns on invested capital, excluding goodwill, of 33% during the past five years, benefiting from operational excellence at its core namesake business.",
    "output": "[Cause] operational excellence at its core namesake business [Relation] enable [Effect] Home Depot deliver adjusted average returns on invested capital, excluding goodwill, of 33% during the past five years",
    "gold": "[Cause] operational excellence at its core namesake business [Relation] enable [Effect] Home Depot deliver adjusted average returns on invested capital, excluding goodwill, of 33% during the past five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project operating margins (unadjusted for cost reimbursement) reaching 17.5% (16.4% prior) in 2029 from 12.6% in 2019, aided by lower labor expense.",
    "output": "[Cause] lower labor expense [Relation] enable [Effect] operating margins (unadjusted for cost reimbursement) reaching 17.5% (16.4% prior) in 2029 from 12.6% in 2019",
    "gold": "[Cause]  lower labor expense [Relation] enable [Effect] operating margins (unadjusted for cost reimbursement) reaching 17.5% (16.4% prior) in 2029 from 12.6% in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, considering Qiagen's strong reputation in a relatively low-cost but essential input to their scientific projects (sample preparation), scientists appear reluctant to switch providers due to consistency and reproducibility factors, which add to the switching costs in this business.",
    "output": "[Cause] consistency and reproducibility factors [Relation] cause [Effect] scientists appear reluctant to switch providers",
    "gold": "[Cause]  consistency and reproducibility factors [Relation] cause [Effect]  scientists appear reluctant to switch providers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, considering Qiagen's strong reputation in a relatively low-cost but essential input to their scientific projects (sample preparation), scientists appear reluctant to switch providers due to consistency and reproducibility factors, which add to the switching costs in this business.",
    "output": "[Cause] scientists appear reluctant to switch providers [Relation] cause [Effect] add to the switching costs in this business",
    "gold": "[Cause]  scientists appear reluctant to switch providers [Relation] cause [Effect]  add to the switching costs in this business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While this should give Hilfiger a boost, it is unlikely to be a game changer as Kohl's, like Macy's, has limited growth and its total sales remain below peak levels.",
    "output": "[Cause] Kohl's, like Macy's, has limited growth and its total sales remain below peak levels [Relation] cause [Effect] it is unlikely to be a game changer",
    "gold": "[Cause]  Kohl's, like Macy's, has limited growth and its total sales remain below peak levels [Relation] cause [Effect]  it is unlikely to be a game changer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we expect operating margins to expand after 2020 as operating leverage returns and Carrier works to eliminate $700 million from its cost structure.",
    "output": "[Cause] operating leverage returns and Carrier works to eliminate $700 million from its cost structure [Relation] cause [Effect] operating margins to expand after 2020",
    "gold": "[Cause] operating leverage returns and Carrier works to eliminate $700 million from its cost structure [Relation] enable [Effect]  operating margins to expand after 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the United States, aircraft engine inspections are both mandated and regulated by the Federal Aviation Administration, and unplanned downtime related to concerns over an engine's efficacy can wreak havoc for airlines, both in terms of time and expense.",
    "output": "[Cause] unplanned downtime related to concerns over an engine's efficacy [Relation] cause [Effect] wreak havoc for airlines, both in terms of time and expense",
    "gold": "[Cause]  unplanned downtime related to concerns over an engine's efficacy can wreak havoc for airlines, both in terms of time and expense [Relation] cause [Effect] , aircraft engine inspections are both mandated and regulated by the Federal Aviation Administration",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Erratic changes in input costs can weigh on profits; if Kellogg opts to raise prices to offset these pressures, volume may contract if consumers balk, especially during economic periods where consumers opt to ratchet back their spending.",
    "output": "[Cause] Erratic changes in input costs [Relation] cause [Effect] weigh on profits",
    "gold": "[Cause] Erratic changes in input costs [Relation] cause [Effect]  weigh on profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, vertical integration could eliminate the need for Duke Realty's properties, as companies could decide to build their own facilities. This of course would require the company to add the property to its balance sheet as opposed to simply paying rent.",
    "output": "[Cause] vertical integration could eliminate the need for Duke Realty's properties, as companies could decide to build their own facilities [Relation] cause [Effect] require the company to add the property to its balance sheet as opposed to simply paying rent",
    "gold": "[Cause]  the company to add the property to its balance sheet as opposed to simply paying rent [Relation] enable [Effect] vertical integration could eliminate the need for Duke Realty's properties, as companies could decide to build their own facilities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Paccar is also determined to mass produce autonomous trucks, creating a pathway for its eventual shift to alternatively powered vehicles.",
    "output": "[Cause] Paccar is also determined to mass produce autonomous trucks [Relation] enable [Effect] creating a pathway for its eventual shift to alternatively powered vehicles",
    "gold": "[Cause] creating a pathway for its eventual shift to alternatively powered vehicles [Relation] enable [Effect] Paccar is also determined to mass produce autonomous trucks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Since Seifi Ghasemi was appointed CEO in 2014, new management has launched several initiatives that drastically improved Air Products' profitability, raising EBITDA margins by over 1,500 basis points. This remarkable improvement is largely due to significant cost cuts, divestments of low-margin noncore operations, and an aggressive pursuit of opportunities in emerging markets.",
    "output": "[Cause] significant cost cuts, divestments of low-margin noncore operations, and an aggressive pursuit of opportunities in emerging markets [Relation] cause [Effect] Seifi Ghasemi was appointed CEO in 2014, new management has launched several initiatives that drastically improved Air Products' profitability, raising EBITDA margins by over 1,500 basis points",
    "gold": "[Cause] significant cost cuts, divestments of low-margin noncore operations, and an aggressive pursuit of opportunities in emerging markets [Relation] cause [Effect] Seifi Ghasemi was appointed CEO in 2014, new management has launched several initiatives that drastically improved Air Products' profitability, raising EBITDA margins by over 1,500 basis points",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In parallel, we forecast gross margin to decrease from 31.5% in 2020 to 31.0% in 2025 as increasing automation in Accenture's servicing, which cuts training costs embedded in cost of goods sold, is overshadowed by the anomalous 2020 comparison in which Accenture benefited from significantly reduced travel costs.",
    "output": "[Cause] increasing automation in Accenture's servicing, which cuts training costs embedded in cost of goods sold, is overshadowed by the anomalous 2020 comparison in which Accenture benefited from significantly reduced travel costs [Relation] cause [Effect] gross margin to decrease from 31.5% in 2020 to 31.0% in 2025",
    "gold": "[Cause] increasing automation in Accenture's servicing, which cuts training costs embedded in cost of goods sold, is overshadowed by the anomalous 2020 comparison in which Accenture benefited from significantly reduced travel costs [Relation] cause [Effect] gross margin to decrease from 31.5% in 2020 to 31.0% in 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Any large decline in light vehicle sales or decrease in the conversion rate would significantly impact the size of self-pay subscriber base.",
    "output": "[Cause] Any large decline in light vehicle sales or decrease in the conversion rate [Relation] cause [Effect] impact the size of self-pay subscriber base",
    "gold": "[Cause] Any large decline in light vehicle sales or decrease in the conversion rate [Relation] cause [Effect] the size of self-pay subscriber base.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The fact that an SMB has a greater chance of failure does not mean it would be more likely to change its digital commerce platform.",
    "output": "[Cause] an SMB has a greater chance of failure [Relation] prevent [Effect] it would be more likely to change its digital commerce platform",
    "gold": "[Cause]  an SMB has a greater chance of failure [Relation] prevent [Effect]  it would be more likely to change its digital commerce platform",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company recently announced that it will expand acetic acid production capacity at Clear Lake by roughly 50%, which should benefit segment margins thanks to lower average unit production costs.",
    "output": "[Cause] lower average unit production costs [Relation] cause [Effect] benefit segment margins",
    "gold": "[Cause] lower average unit production costs [Relation] enable [Effect]  it will expand acetic acid production capacity at Clear Lake by roughly 50%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With 2020-21 set to be plagued by inconsistent pricing strategies as Norwegian and the other cruise operators try to entice cruisers to sail again, we don't see Norwegian reaching near 2019 pricing again until 2022 (second-half 2021 pricing is already trending in line with prepandemic levels in autumn 2020).",
    "output": "[Cause] 2020-21 set to be plagued by inconsistent pricing strategies as Norwegian and the other cruise operators try to entice cruisers to sail again [Relation] cause [Effect] we don't see Norwegian reaching near 2019 pricing again until 2022 (second-half 2021 pricing is already trending in line with prepandemic levels in autumn 2020)",
    "gold": "[Cause]  Norwegian and the other cruise operators try to entice cruisers to sail again [Relation] cause [Effect] 2020-21 set to be plagued by inconsistent pricing strategies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given 2 Jun 2021 05:00, UTCthe importance of security, especially in the increasingly digitized world, such a disruption could be dangerous for business operations and lead to a data breach that could impede customer trust in the company.",
    "output": "[Cause] the importance of security [Relation] cause [Effect] such a disruption could be dangerous for business operations",
    "gold": "[Cause] such a disruption [Relation] cause [Effect] a data breach that could impede customer trust in the company",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given 2 Jun 2021 05:00, UTCthe importance of security, especially in the increasingly digitized world, such a disruption could be dangerous for business operations and lead to a data breach that could impede customer trust in the company.",
    "output": "[Cause] such a disruption could be dangerous for business operations [Relation] cause [Effect] a data breach that could impede customer trust in the company",
    "gold": "[Cause] the importance of security, especially in the increasingly digitized world [Relation] cause [Effect] such a disruption could be dangerous for business operations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Food consumption is outpacing population growth as wealthier, more educated societies become more urbanized. This shift generates the twofold effect of reducing the available stock of farm labor, which drives mechanization, and producing a more affluent society that consumes more food with higher protein content.",
    "output": "[Cause] Food consumption is outpacing population growth as wealthier, more educated societies become more urbanized [Relation] cause [Effect] This shift generates the twofold effect of reducing the available stock of farm labor, which drives mechanization, and producing a more affluent society that consumes more food with higher protein content",
    "gold": "[Cause] Food consumption is outpacing population growth as wealthier, more educated societies become more urbanized [Relation] cause [Effect] This shift generates the twofold effect of reducing the available stock of farm labor, which drives mechanization, and producing a more affluent society that consumes more food with higher protein content",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are increasing our fair value estimate to $225 per share from $183 to reflect the better traction of the recent acquisitions (Livongo and InTouch) as well as the likely extension of temporary telehealth reimbursement.",
    "output": "[Cause] the better traction of the recent acquisitions (Livongo and InTouch) as well as the likely extension of temporary telehealth reimbursement [Relation] cause [Effect] We are increasing our fair value estimate to $225 per share from $183",
    "gold": "[Cause] increasing our fair value estimate to $225 per share from $183 [Relation] cause [Effect] reflect the better traction of the recent acquisitions (Livongo and InTouch) as well as the likely extension of temporary telehealth reimbursement",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Between 2014 and 2019, Akamai went from garnering over 18% of its revenue from its six big Internet customers to about 6%, as the revenue it received from them nearly got cut in half.",
    "output": "[Cause] the revenue it received from them nearly got cut in half [Relation] cause [Effect] Akamai went from garnering over 18% of its revenue from its six big Internet customers to about 6%",
    "gold": "[Cause] the revenue it received from them nearly got cut in half [Relation] cause [Effect] Akamai went from garnering over 18% of its revenue from its six big Internet customers to about 6%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ITT has an agreement with its suppliers to lock up that technology for five years, which prevents imitation from its competitors.",
    "output": "[Cause] ITT has an agreement with its suppliers to lock up that technology for five years [Relation] prevent [Effect] imitation from its competitors",
    "gold": "[Cause] ITT has an agreement with its suppliers to lock up that technology for five years [Relation] prevent [Effect]  imitation from its competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Abbott can partially close the operating margin gap and project 460 basis points of improvement from 2019 to 2024, as the firm leverages the distribution infrastructure it has built out for penetration of emerging markets across its product segments and extracts cost synergies from its recent acquisitions.",
    "output": "[Cause] the firm leverages the distribution infrastructure it has built out for penetration of emerging markets across its product segments and extracts cost synergies from its recent acquisitions [Relation] cause [Effect] Abbott can partially close the operating margin gap and project 460 basis points of improvement from 2019 to 2024",
    "gold": "[Cause]  the firm leverages the distribution infrastructure it has built out for penetration of emerging markets across its product segments and extracts cost synergies from its recent acquisitions [Relation] cause [Effect] Abbott can partially close the operating margin gap and project 460 basis points of improvement from 2019 to 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The balance sheet is finally growing again, after years of planned sell-offs in an effort to derisk and reform the business.",
    "output": "[Cause] years of planned sell-offs in an effort to derisk and reform the business [Relation] cause [Effect] The balance sheet is finally growing again",
    "gold": "[Cause] years of planned sell-offs in an effort to derisk and reform the business [Relation] cause [Effect] The balance sheet is finally growing again",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we believe that Fluor's revised risk criteria will help lower risk in the long-run, we note that Fluor's exposure to fixed-price contracts remains significantly higher than it used to be, which elevates uncertainty around the firm's backlog.",
    "output": "[Cause] Fluor's revised risk criteria [Relation] enable [Effect] lower risk in the long-run",
    "gold": "[Cause] Fluor's revised risk criteria [Relation] cause [Effect] lower risk in the long-run",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we believe that Fluor's revised risk criteria will help lower risk in the long-run, we note that Fluor's exposure to fixed-price contracts remains significantly higher than it used to be, which elevates uncertainty around the firm's backlog.",
    "output": "[Cause] Fluor's exposure to fixed-price contracts remains significantly higher than it used to be [Relation] cause [Effect] elevates uncertainty around the firm's backlog",
    "gold": "[Cause] Fluor's exposure to fixed-price contracts remains significantly higher than it used to be [Relation] cause [Effect] elevates uncertainty around the firm's backlog",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Instead, the firm generates revenue via by selling and leasing the required proprietary equipment and via fees for digitally remastering standard films into the proprietary Imax format.",
    "output": "[Cause] selling and leasing the required proprietary equipment and via fees for digitally remastering standard films into the proprietary Imax format [Relation] enable [Effect] the firm generates revenue",
    "gold": "[Cause] selling and leasing the required proprietary equipment and via fees for digitally remastering standard films into the proprietary Imax format [Relation] enable [Effect] the firm generates revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Snowflake benefits from switching costs and a network effect, protected by its unique multicloud strategies throughout its data lake, data warehousing, and data sharing offerings.",
    "output": "[Cause] protected by its unique multicloud strategies throughout its data lake, data warehousing, and data sharing offerings [Relation] enable [Effect] Snowflake benefits from switching costs and a network effect",
    "gold": "[Cause]  protected by its unique multicloud strategies throughout its data lake, data warehousing, and data sharing offerings [Relation] enable [Effect]  Snowflake benefits from switching costs and a network effect",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even as traditional beer within brand families like Corona, Modelo, and Pacifico start to mature, adjacencies like flavored malt beverages (FMBs) and seltzer should provide volume upside as they become more meaningful within the mix.",
    "output": "[Cause] they become more meaningful within the mix [Relation] cause [Effect] adjacencies like flavored malt beverages (FMBs) and seltzer should provide volume upside",
    "gold": "[Cause] they become more meaningful within the mix [Relation] enable [Effect]  adjacencies like flavored malt beverages (FMBs) and seltzer should provide volume upside",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With shoppers' habits far from settled and digital and physical sellers competing aggressively in a sector with virtually no switching costs, we see no end to the upheaval.",
    "output": "[Cause] shoppers' habits far from settled and digital and physical sellers competing aggressively in a sector with virtually no switching costs [Relation] cause [Effect] no end to the upheaval",
    "gold": "[Cause] shoppers' habits far from settled and digital and physical sellers competing aggressively in a sector with virtually no switching costs [Relation] cause [Effect] no end to the upheaval",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we only model a 30% probability of approval for an Alzheimer's program with Biogen and a hepatitis B program with Glaxo, these could significantly boost our revenue forecast if they advance into late-stage trials and to the market.",
    "output": "[Cause] they advance into late-stage trials and to the market [Relation] enable [Effect] these could significantly boost our revenue forecast",
    "gold": "[Cause] While we only model a 30% probability of approval for an Alzheimer's program with Biogen and a hepatitis B program with Glaxo | if they advance into late-stage trials and to the market [Relation] enable [Effect] these could significantly boost our revenue forecast",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect adjusted operating earnings for Southern's three regulated electric utilities to grow at an annual rate of 5.6% over the next five years as Vogtle is completed and estimated capital expenditures accelerate to $30 billion over the next five years versus $24 billion from 2016-20.",
    "output": "[Cause] Vogtle is completed and estimated capital expenditures accelerate to $30 billion over the next five years versus $24 billion from 2016-20 [Relation] cause [Effect] adjusted operating earnings for Southern's three regulated electric utilities to grow at an annual rate of 5.6% over the next five years",
    "gold": "[Cause] Vogtle is completed and estimated capital expenditures accelerate to $30 billion over the next five years versus $24 billion from 2016-20 [Relation] cause [Effect] adjusted operating earnings for Southern's three regulated electric utilities to grow at an annual rate of 5.6% over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the apparel manufacturing industry can draw scrutiny regarding its labor practices, we see the risk largely confined to producers; furthermore, Burlington's assortment is changing and drawn from thousands of suppliers.",
    "output": "[Cause] Burlington's assortment is changing and drawn from thousands of suppliers [Relation] cause [Effect] the risk largely confined to producers",
    "gold": "[Cause] producers [Relation] cause [Effect] risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Ralph Lauren has reduced costs through cost concessions from suppliers, the elimination of entire layers of management, and supply-chain improvements that include shorter production times and sourcing from lower-wage countries.",
    "output": "[Cause] cost concessions from suppliers, the elimination of entire layers of management, and supply-chain improvements that include shorter production times and sourcing from lower-wage countries [Relation] enable [Effect] Ralph Lauren has reduced costs",
    "gold": "[Cause] cost concessions from suppliers, the elimination of entire layers of management, and supply-chain improvements that include shorter production times and sourcing from lower-wage countries [Relation] enable [Effect] Ralph Lauren has reduced costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Second, Allegion competes against well-established and capable competitors (for example, Assa Abloy and Dormakaba), and the firm must stay on the cutting edge of technology to remain competitive as electronic and mechanical security technology converge.",
    "output": "[Cause] electronic and mechanical security technology converge [Relation] cause [Effect] the firm must stay on the cutting edge of technology to remain competitive",
    "gold": "[Cause] electronic and mechanical security technology converge [Relation] cause [Effect] the firm must stay on the cutting edge of technology to remain competitive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, as smartphone apps have disrupted the PND market, Garmin's major revenue sources have shifted to its aviation and marine segments as well as its fitness and outdoor segments as the smartwatch market has taken off.",
    "output": "[Cause] smartphone apps have disrupted the PND market [Relation] cause [Effect] Garmin's major revenue sources have shifted to its aviation and marine segments as well as its fitness and outdoor segments as the smartwatch market has taken off",
    "gold": "[Cause] the smartwatch market has taken off [Relation] cause [Effect] Garmin's major revenue sources have shifted to its aviation and marine segments as well as its fitness and outdoor segments",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Competitive dynamics, fleet changes, and a less established international presence (particularly in emerging markets) constitute the most significant risks to our long-term outlook, with the COVID-19 pandemic the most material near-term source of agita.",
    "output": "[Cause] Competitive dynamics, fleet changes, and a less established international presence (particularly in emerging markets) [Relation] cause [Effect] the most significant risks to our long-term outlook",
    "gold": "[Cause] the COVID-19 pandemic the most material near-term source of agita [Relation] prevent [Effect] established international presence (particularly in emerging markets) constitute the most significant risks to our long-term outlook",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, both banks enjoy a large deposit base owing to the perception of government support (savings banks), their long history of involvement in local economies through dense local branch networks and public event sponsoring initiatives, as well as their stable performance through financial crises and willingness to extent credit in bust cycles. This creates a funding advantage for public banks which is mirrored in significantly higher net interest margins relative to private commercial banks.",
    "output": "[Cause] both banks enjoy a large deposit base owing to the perception of government support (savings banks), their long history of involvement in local economies through dense local branch networks and public event sponsoring initiatives, as well as their stable performance through financial crises and willingness to extent credit in bust cycles [Relation] cause [Effect] a funding advantage for public banks which is mirrored in significantly higher net interest margins relative to private commercial banks",
    "gold": "[Cause]  both banks enjoy a large deposit base owing to the perception of government support (savings banks), their long history of involvement in local economies through dense local branch networks and public event sponsoring initiatives, as well as their stable performance through financial crises and willingness to extent credit in bust cycles [Relation] cause [Effect] a funding advantage for public banks which is mirrored in significantly higher net interest margins relative to private commercial banks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect net interest margins to remain below their pre-pandemic level for some time as it will take time for Capital One's credit card portfolio to recover to its original size.",
    "output": "[Cause] it will take time for Capital One's credit card portfolio to recover to its original size [Relation] cause [Effect] net interest margins to remain below their pre-pandemic level for some time",
    "gold": "[Cause] it will take time for Capital One's credit card portfolio to recover to its original size [Relation] cause [Effect] net interest margins to remain below their pre-pandemic level for some time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This integration and ability to offer an improved product at a good price makes for a sticky relationship with a customer, creating a barrier to entry not only for the current vehicle program but for future programs as well.",
    "output": "[Cause] This integration and ability to offer an improved product at a good price [Relation] cause [Effect] a sticky relationship with a customer",
    "gold": "[Cause] This integration and ability to offer an improved product at a good price [Relation] cause [Effect] a sticky relationship with a customer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This integration and ability to offer an improved product at a good price makes for a sticky relationship with a customer, creating a barrier to entry not only for the current vehicle program but for future programs as well.",
    "output": "[Cause] This integration and ability to offer an improved product at a good price [Relation] cause [Effect] creating a barrier to entry not only for the current vehicle program but for future programs as well",
    "gold": "[Cause] a sticky relationship with a customer [Relation] enable [Effect] creating a barrier to entry not only for the current vehicle program but for future programs as well",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, we are optimistic about Linde's long-term revenue growth prospects and we think the firm is well-positioned to benefit from growth in both its traditional industrial gas business as well as new opportunities such as green hydrogen.",
    "output": "[Cause] growth in both its traditional industrial gas business as well as new opportunities such as green hydrogen [Relation] enable [Effect] the firm is well-positioned to benefit",
    "gold": "[Cause] benefit from growth in both its traditional industrial gas business as well as new opportunities such as green hydrogen [Relation] enable [Effect] we are optimistic about Linde's long-term revenue growth prospects and we think the firm is well-positioned",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Gene therapy competitors like Sangamo/Pfizer and Roche (Spark) could also see pandemic-related delays as they are still enrolling phase 3 studies, which could improve BioMarin's early market share lead beginning in 2022.",
    "output": "[Cause] they are still enrolling phase 3 studies [Relation] cause [Effect] Gene therapy competitors like Sangamo/Pfizer and Roche (Spark) could also see pandemic-related delays",
    "gold": "[Cause] they are still enrolling phase 3 studies [Relation] cause [Effect] Gene therapy competitors like Sangamo/Pfizer and Roche (Spark) could also see pandemic-related delays",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Gene therapy competitors like Sangamo/Pfizer and Roche (Spark) could also see pandemic-related delays as they are still enrolling phase 3 studies, which could improve BioMarin's early market share lead beginning in 2022.",
    "output": "[Cause] they are still enrolling phase 3 studies [Relation] cause [Effect] Gene therapy competitors like Sangamo/Pfizer and Roche (Spark) could also see pandemic-related delays",
    "gold": "[Cause] Gene therapy competitors like Sangamo/Pfizer and Roche (Spark) could also see pandemic-related delays [Relation] enable [Effect] improve BioMarin's early market share lead beginning in 2022",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With the acquisition of Segment, Twilio will be embedding a new layer into its stack of offerings, namely the Segment Customer Data Platform.",
    "output": "[Cause] the acquisition of Segment [Relation] cause [Effect] Twilio will be embedding a new layer into its stack of offerings",
    "gold": "[Cause] the acquisition of Segment [Relation] cause [Effect] Twilio will be embedding a new layer into its stack of offerings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, given the uniquely risk-averse nature of local government and public institutions, deals require a variety of reference accounts--and Tyler has spent decades building a roster of clients, beginning with small local institutions, building over time to major cities and even statewide deals.",
    "output": "[Cause] the uniquely risk-averse nature of local government and public institutions [Relation] cause [Effect] deals require a variety of reference accounts",
    "gold": "[Cause] the uniquely risk-averse nature of local government and public institutions [Relation] cause [Effect]  deals require a variety of reference accounts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project revenue will increase at a 21.5% compound annual growth rate through fiscal 2025 as the firm continues to diversify its revenue sources to areas of strong potential.",
    "output": "[Cause] the firm continues to diversify its revenue sources to areas of strong potential [Relation] cause [Effect] We project revenue will increase at a 21.5% compound annual growth rate through fiscal 2025",
    "gold": "[Cause] the firm continues to diversify its revenue sources to areas of strong potential [Relation] cause [Effect] We project revenue will increase at a 21.5% compound annual growth rate through fiscal 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, a narrowing in refining margins could damage downstream profitability, though the threat of high prices and need to subsidize the domestic market have largely been eliminated.",
    "output": "[Cause] a narrowing in refining margins [Relation] cause [Effect] damage downstream profitability",
    "gold": "[Cause] a narrowing in refining margins [Relation] cause [Effect] damage downstream profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, given the fixed number of hours per day, an increase usage and engagement on one social network could come at a cost to other social networks, reducing user engagement and the potential return on investment for advertisers.",
    "output": "[Cause] the fixed number of hours per day [Relation] cause [Effect] an increase usage and engagement on one social network could come at a cost to other social networks",
    "gold": "[Cause] the fixed number of hours per day [Relation] cause [Effect] an increase usage and engagement on one social network could come at a cost to other social networks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, given the fixed number of hours per day, an increase usage and engagement on one social network could come at a cost to other social networks, reducing user engagement and the potential return on investment for advertisers.",
    "output": "[Cause] an increase usage and engagement on one social network could come at a cost to other social networks [Relation] cause [Effect] reducing user engagement and the potential return on investment for advertisers",
    "gold": "[Cause] an increase usage and engagement on one social network could come at a cost to other social networks [Relation] cause [Effect] reducing user engagement and the potential return on investment for advertisers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Considering Wayfair's lifecycle position, with significant growth potential but also corresponding expenses to achieve market share gains, we expect returns on invested capital to be volatile.",
    "output": "[Cause] Wayfair's lifecycle position, with significant growth potential but also corresponding expenses to achieve market share gains [Relation] cause [Effect] returns on invested capital to be volatile",
    "gold": "[Cause] Considering Wayfair's lifecycle position [Relation] cause [Effect]  returns on invested capital to be volatile",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Beyond 2020, we assume that T-Mobile's integration efforts are successful, with customer churn steadily declining from the blended levels the combined firm has posted recently.",
    "output": "[Cause] customer churn steadily declining from the blended levels the combined firm has posted recently [Relation] cause [Effect] Beyond 2020, we assume that T-Mobile's integration efforts are successful",
    "gold": "[Cause]  customer churn steadily declining from the blended levels the combined firm has posted recently [Relation] cause [Effect] Beyond 2020, we assume that T-Mobile's integration efforts are successful",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Valero remains well positioned for almost any market environment thanks to its high-quality refining assets and their location, which affords it greater feedstock flexibility.",
    "output": "[Cause] its high-quality refining assets and their location [Relation] enable [Effect] Valero remains well positioned for almost any market environment",
    "gold": "[Cause] its high-quality refining assets and their location [Relation] cause [Effect] Valero remains well positioned for almost any market environment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Valero remains well positioned for almost any market environment thanks to its high-quality refining assets and their location, which affords it greater feedstock flexibility.",
    "output": "[Cause] its high-quality refining assets and their location [Relation] enable [Effect] affords it greater feedstock flexibility",
    "gold": "[Cause] Valero remains well positioned for almost any market environment [Relation] cause [Effect] affords it greater feedstock flexibility",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "LKQ's consistent parts availability and fast delivery are the result of a strong distribution network that can move parts between facilities relatively quickly, ultimately getting them into customers' hands fast.",
    "output": "[Cause] a strong distribution network [Relation] enable [Effect] LKQ's consistent parts availability and fast delivery",
    "gold": "[Cause]  a strong distribution network [Relation] enable [Effect] LKQ's consistent parts availability and fast delivery",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "LKQ's consistent parts availability and fast delivery are the result of a strong distribution network that can move parts between facilities relatively quickly, ultimately getting them into customers' hands fast.",
    "output": "[Cause] a strong distribution network [Relation] enable [Effect] LKQ's consistent parts availability and fast delivery",
    "gold": "[Cause]  a strong distribution network [Relation] enable [Effect]  move parts between facilities relatively quickly, ultimately getting them into customers' hands fast",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As Franklin has historically generated the majority of its sales in any given period from a handful of funds, it also faces the risk that underperformance from any one of these funds affects flows.",
    "output": "[Cause] Franklin has historically generated the majority of its sales in any given period from a handful of funds [Relation] cause [Effect] it also faces the risk that underperformance from any one of these funds affects flows",
    "gold": "[Cause] Franklin has historically generated the majority of its sales in any given period from a handful of funds, [Relation] enable [Effect] underperformance from any one of these funds affects flows.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Cabinets represent a meaningful cost for homebuilders, so they tend to leverage their buying power over cabinet suppliers, which results in lower margins.",
    "output": "[Cause] Cabinets represent a meaningful cost for homebuilders [Relation] cause [Effect] they tend to leverage their buying power over cabinet suppliers",
    "gold": "[Cause] they tend to leverage their buying power over cabinet suppliers [Relation] cause [Effect] Cabinets represent a meaningful cost for homebuilders",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Cabinets represent a meaningful cost for homebuilders, so they tend to leverage their buying power over cabinet suppliers, which results in lower margins.",
    "output": "[Cause] they tend to leverage their buying power over cabinet suppliers [Relation] cause [Effect] lower margins",
    "gold": "[Cause] Cabinets represent a meaningful cost for homebuilders [Relation] cause [Effect] lower margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We see net charge-off ratios normalizing to 0.76% through the cycle but anticipate higher than normal credit costs in 2020 and 2021 due to the effects of COVID-19 on the economy.",
    "output": "[Cause] the effects of COVID-19 on the economy [Relation] cause [Effect] anticipate higher than normal credit costs in 2020 and 2021",
    "gold": "[Cause] the effects of COVID-19 on the economy [Relation] cause [Effect] anticipate higher than normal credit costs in 2020 and 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This limits Sandvik's ability to plan for the long term and provides limited visibility on financial performance. This has been a key reason behind Sandvik's efforts to reduce its manufacturing footprint, have more flexible production methods, and place a greater emphasis on aftermarket parts and services in its mining division.",
    "output": "[Cause] This limits Sandvik's ability to plan for the long term and provides limited visibility on financial performance [Relation] cause [Effect] Sandvik's efforts to reduce its manufacturing footprint, have more flexible production methods, and place a greater emphasis on aftermarket parts and services in its mining division",
    "gold": "[Cause] This limits Sandvik's ability to plan for the long term and provides limited visibility on financial performance [Relation] cause [Effect] Sandvik's efforts to reduce its manufacturing footprint, have more flexible production methods, and place a greater emphasis on aftermarket parts and services in its mining division",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A confluence of factors have contributed to Lennox's improved profitability, including a shift toward lower-cost Mexican manufacturing and Asian product sourcing, material cost reductions through product redesigns, favorable mix shift to higher-end products, and fixed-cost leverage on volume gains.",
    "output": "[Cause] A confluence of factors [Relation] cause [Effect] Lennox's improved profitability",
    "gold": "[Cause] a shift toward lower-cost Mexican manufacturing and Asian product sourcing, material cost reductions through product redesigns, favorable mix shift to higher-end products, and fixed-cost leverage on volume gains [Relation] enable [Effect] Lennox's improved profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We agree with management that public cloud adoption is hindered by complexities in integrating public clouds with on-premises and private cloud infrastructures.",
    "output": "[Cause] complexities in integrating public clouds with on-premises and private cloud infrastructures [Relation] prevent [Effect] public cloud adoption",
    "gold": "[Cause] complexities in integrating public clouds with on-premises and private cloud infrastructures [Relation] prevent [Effect]  public cloud adoption",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With input materials and capital equipment sourced in much the same way that its competitors do, we don't believe Avery will be able to consistently maintain a substantial cost advantage over peers.",
    "output": "[Cause] input materials and capital equipment sourced in much the same way that its competitors do [Relation] prevent [Effect] consistently maintain a substantial cost advantage over peers",
    "gold": "[Cause] input materials and capital equipment sourced in much the same way that its competitors do [Relation] prevent [Effect] consistently maintain a substantial cost advantage over peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "WeChat and QQ users would lose the contact information they built up in WeChat and QQ, as well as the content they post should they leave the social networks.",
    "output": "[Cause] they leave the social networks [Relation] cause [Effect] WeChat and QQ users would lose the contact information they built up in WeChat and QQ, as well as the content they post",
    "gold": "[Cause] they leave the social networks [Relation] cause [Effect] WeChat and QQ users would lose the contact information they built up in WeChat and QQ, as well as the content they post",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over our explicit forecast, we expect gross margins to improve by nearly 200 basis points as the company gains scale in its expansion of its 3DExperience customers and as low-gross margin servicing revenue decreases.",
    "output": "[Cause] the company gains scale in its expansion of its 3DExperience customers and as low-gross margin servicing revenue decreases [Relation] cause [Effect] gross margins to improve by nearly 200 basis points",
    "gold": "[Cause]  the company gains scale in its expansion of its 3DExperience customers and as low-gross margin servicing revenue decreases [Relation] cause [Effect] gross margins to improve by nearly 200 basis points",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Truist's size is large enough to help scale some of these costs and is small enough to avoid some of the extra costs faced by its largest peers.",
    "output": "[Cause] Truist's size is large [Relation] enable [Effect] help scale some of these costs",
    "gold": "[Cause] Truist's size is large [Relation] enable [Effect]  help scale some of these costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Truist's size is large enough to help scale some of these costs and is small enough to avoid some of the extra costs faced by its largest peers.",
    "output": "[Cause] Truist's size is large enough [Relation] enable [Effect] help scale some of these costs",
    "gold": "[Cause] small [Relation] prevent [Effect]  the extra costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The strong returns on invested capital that the toy industry can generate will continue to attract competition, however, which will force Hasbro to continuously improve its business and innovate to maintain its leadership position, resulting in elevated development costs.",
    "output": "[Cause] The strong returns on invested capital that the toy industry can generate will continue to attract competition [Relation] cause [Effect] elevated development costs",
    "gold": "[Cause] The strong returns on invested capital that the toy industry can generate will continue to attract competition [Relation] cause [Effect] elevated development costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "British American's portfolio is balanced across price points, which is likely to provide some insulation from trading down, but we would be concerned about the global industry profit pool if the plain packages are introduced in other major markets.",
    "output": "[Cause] British American's portfolio is balanced across price points [Relation] enable [Effect] provide some insulation from trading down",
    "gold": "[Cause] British American's portfolio is balanced across price points [Relation] cause [Effect] provide some insulation from trading down",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "British American's portfolio is balanced across price points, which is likely to provide some insulation from trading down, but we would be concerned about the global industry profit pool if the plain packages are introduced in other major markets.",
    "output": "[Cause] the plain packages are introduced in other major markets [Relation] cause [Effect] we would be concerned about the global industry profit pool",
    "gold": "[Cause] the plain packages are introduced in other major markets [Relation] cause [Effect] we would be concerned about the global industry profit pool",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm merged its 11,000 Italian wireless towers with Telecom Italia's, receiving EUR 2 billion in cash and a stake in the tower firm worth around EUR 3.5 billion.",
    "output": "[Cause] The firm merged its 11,000 Italian wireless towers with Telecom Italia's [Relation] enable [Effect] receiving EUR 2 billion in cash and a stake in the tower firm worth around EUR 3.5 billion",
    "gold": "[Cause] The firm merged its 11,000 Italian wireless towers with Telecom Italia's [Relation] enable [Effect]  receiving EUR 2 billion in cash and a stake in the tower firm worth around EUR 3.5 billion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, its resorts operate at all hours and days of the year, using energy and supplies, which if not properly managed could cause some people to lose interest in visiting.",
    "output": "[Cause] not properly managed [Relation] cause [Effect] some people to lose interest in visiting",
    "gold": "[Cause] not properly managed [Relation] cause [Effect] some people to lose interest in visiting",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Truist is large enough to be subject to the Federal Reserve's annual stress tests because it has more than $250 billion in assets.",
    "output": "[Cause] it has more than $250 billion in assets [Relation] cause [Effect] Truist is large enough to be subject to the Federal Reserve's annual stress tests",
    "gold": "[Cause] it has more than $250 billion in assets [Relation] cause [Effect] Truist is large enough to be subject to the Federal Reserve's annual stress tests",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ecolab's sales proposition to many of its customers in the industrial and institutional segments includes the assurance that a customer will meet regulatory standards and will not experience a disastrous outcome, such as a product recall or bacteria outbreak.",
    "output": "[Cause] Ecolab's sales proposition to many of its customers in the industrial and institutional segments includes the assurance that a customer will meet regulatory standards and will not experience a disastrous outcome, such as a product recall or bacteria outbreak [Relation] cause [Effect] Ecolab's sales proposition to many of its customers in the industrial and institutional segments",
    "gold": "[Cause] Ecolab's sales proposition to many of its customers in the industrial and institutional segments [Relation] cause [Effect]  the assurance that a customer will meet regulatory standards and will not experience a disastrous outcome, such as a product recall or bacteria outbreak",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Lloyds finances roughly 52% or GBP 416 billion of its asset base via deposits, which can be broken down to 30% retail deposits and 22% commercial deposits, giving it what we believe to be a strong funding advantage in its retail and commercial operations.",
    "output": "[Cause] Lloyds finances roughly 52% or GBP 416 billion of its asset base via deposits, which can be broken down to 30% retail deposits and 22% commercial deposits [Relation] enable [Effect] giving it what we believe to be a strong funding advantage in its retail and commercial operations",
    "gold": "[Cause] deposits [Relation] enable [Effect] Lloyds finances roughly 52% or GBP 416 billion of its asset base",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the firm is likely to generate excess returns for the next decade, but this is primarily a function of a rising connectivity tide raising all boats; we expect Marvell will struggle to get out of Broadcom's and Intel's wake.",
    "output": "[Cause] a rising connectivity tide raising all boats [Relation] cause [Effect] the firm is likely to generate excess returns for the next decade",
    "gold": "[Cause]  a rising connectivity tide raising all boats [Relation] cause [Effect]  the firm is likely to generate excess returns for the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe this enables Burlington's focus on an everyday-low-price approach, limiting the need for end-of-season markdowns that can encourage bargain-oriented, opportunistic customers to delay purchases in hopes of finding a better deal.",
    "output": "[Cause] Burlington's focus on an everyday-low-price approach [Relation] enable [Effect] limiting the need for end-of-season markdowns",
    "gold": "[Cause] end-of-season markdowns [Relation] cause [Effect] encourage bargain-oriented, opportunistic customers to delay purchases in hopes of finding a better deal",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe this enables Burlington's focus on an everyday-low-price approach, limiting the need for end-of-season markdowns that can encourage bargain-oriented, opportunistic customers to delay purchases in hopes of finding a better deal.",
    "output": "[Cause] Burlington's focus on an everyday-low-price approach [Relation] enable [Effect] encourage bargain-oriented, opportunistic customers to delay purchases in hopes of finding a better deal",
    "gold": "[Cause] Burlington's focus on an everyday-low-price approach [Relation] prevent [Effect] the need for end-of-season markdowns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Utilities - Independent Power Producers Retail acquisitions and customer growth could boost retail earnings to one third of consolidated earnings.",
    "output": "[Cause] Utilities - Independent Power Producers Retail acquisitions and customer growth [Relation] enable [Effect] boost retail earnings to one third of consolidated earnings",
    "gold": "[Cause] Utilities - Independent Power Producers Retail acquisitions and customer growth [Relation] enable [Effect] boost retail earnings to one third of consolidated earnings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We don't expect cost parity for mass capacity enterprise SSDs to come in the short-term, but acknowledge that a technological breakthrough in NAND chipmaking could accelerate a similar crossover in the enterprise market and spur a steady decline of enterprise HDDs.",
    "output": "[Cause] a technological breakthrough in NAND chipmaking [Relation] enable [Effect] accelerate a similar crossover in the enterprise market and spur a steady decline of enterprise HDDs",
    "gold": "[Cause] a technological breakthrough in NAND chipmaking could accelerate a similar crossover in the enterprise market and spur a steady decline of enterprise HDDs [Relation] cause [Effect] We don't expect cost parity for mass capacity enterprise SSDs to come in the short-term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Texas Instruments generates enough revenue to adequately fund this large sales team that only a handful of chipmakers can match, yet its salesforce helps the firm reach more customers and generate additional chip sales that can fund further sales team expansion, creating a virtuous cycle for the company.",
    "output": "[Cause] Texas Instruments generates enough revenue to adequately fund this large sales team [Relation] cause [Effect] only a handful of chipmakers can match",
    "gold": "[Cause]  its salesforce [Relation] enable [Effect] the firm reach more customers and generate additional chip sales",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Texas Instruments generates enough revenue to adequately fund this large sales team that only a handful of chipmakers can match, yet its salesforce helps the firm reach more customers and generate additional chip sales that can fund further sales team expansion, creating a virtuous cycle for the company.",
    "output": "[Cause] its salesforce helps the firm reach more customers and generate additional chip sales [Relation] enable [Effect] fund further sales team expansion, creating a virtuous cycle for the company",
    "gold": "[Cause] fund further sales team expansion [Relation] enable [Effect] adequately fund this large sales team",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Texas Instruments generates enough revenue to adequately fund this large sales team that only a handful of chipmakers can match, yet its salesforce helps the firm reach more customers and generate additional chip sales that can fund further sales team expansion, creating a virtuous cycle for the company.",
    "output": "[Cause] its salesforce helps the firm reach more customers and generate additional chip sales [Relation] enable [Effect] fund further sales team expansion",
    "gold": "[Cause] Texas Instruments generates enough revenue to adequately fund this large sales team that only a handful of chipmakers can match, yet its salesforce helps the firm reach more customers and generate additional chip sales that can fund further sales team expansion [Relation] cause [Effect]  creating a virtuous cycle for the company",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "TJX faces an unsettled landscape as rising vaccination rates and economic stimulus collide with Americans' return to pandemic-affected categories like restaurants and travel.",
    "output": "[Cause] rising vaccination rates and economic stimulus collide with Americans' return to pandemic-affected categories like restaurants and travel [Relation] cause [Effect] TJX faces an unsettled landscape",
    "gold": "[Cause] rising vaccination rates and economic stimulus collide with Americans' return to pandemic-affected categories like restaurants and travel [Relation] cause [Effect] TJX faces an unsettled landscape",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Oilfield equipment consists mainly of mission-critical product lines that are highly concentrated in the hands of a few players that can assemble the sophisticated technology necessary to ensure product reliability under harsh demands.",
    "output": "[Cause] mission-critical product lines that are highly concentrated in the hands of a few players [Relation] enable [Effect] assemble the sophisticated technology necessary to ensure product reliability under harsh demands",
    "gold": "[Cause] mission-critical product lines that are highly concentrated in the hands of a few players [Relation] cause [Effect]  assemble the sophisticated technology necessary to ensure product reliability under harsh demands",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cross-border transactions, which are particularly lucrative for the networks, have been under heavy pressure due to the fallout from the coronavirus outbreak and a reduction in global travel.",
    "output": "[Cause] the fallout from the coronavirus outbreak and a reduction in global travel [Relation] cause [Effect] Cross-border transactions, which are particularly lucrative for the networks, have been under heavy pressure",
    "gold": "[Cause] the fallout from the coronavirus outbreak and a reduction in global travel [Relation] cause [Effect] Cross-border transactions, which are particularly lucrative for the networks, have been under heavy pressure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, the sources of Illumina's competitive advantages may tilt more firmly into intangible asset territory as Grail's tests expand.",
    "output": "[Cause] Grail's tests expand [Relation] cause [Effect] the sources of Illumina's competitive advantages may tilt more firmly into intangible asset territory",
    "gold": "[Cause] Grail's tests expand [Relation] cause [Effect] the sources of Illumina's competitive advantages may tilt more firmly into intangible asset territory",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We view the DJO Global acquisition favorably, considering the business's lower cyclicality, higher revenue growth potential, and margin expansion opportunity.",
    "output": "[Cause] the business's lower cyclicality, higher revenue growth potential, and margin expansion opportunity [Relation] cause [Effect] We view the DJO Global acquisition favorably",
    "gold": "[Cause] the business's lower cyclicality, higher revenue growth potential, and margin expansion opportunity [Relation] cause [Effect] We view the DJO Global acquisition favorably",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Online deposit gathering has allowed Capital One to develop and maintain a deposit base of sufficient size to finance a national lending arm while maintaining a slim service profile.",
    "output": "[Cause] Online deposit gathering [Relation] enable [Effect] Capital One to develop and maintain a deposit base of sufficient size to finance a national lending arm while maintaining a slim service profile",
    "gold": "[Cause] Online deposit gathering [Relation] enable [Effect] Capital One to develop and maintain a deposit base of sufficient size to finance a national lending arm while maintaining a slim service profile",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume a 10%-24% probability that Moderna's IP rights will be waived during the pandemic, but we expect this to have an immaterial impact, given the firm's proprietary technological know-how and shortages of raw materials.",
    "output": "[Cause] the firm's proprietary technological know-how and shortages of raw materials [Relation] cause [Effect] Moderna's IP rights will be waived during the pandemic",
    "gold": "[Cause]  the firm's proprietary technological know-how and shortages of raw materials [Relation] cause [Effect]  an immaterial impact",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We assume Exxon's production grows during the next five years, but falls short of its previous production target of 5.0 mmboe/d in 2025 given near-term delays in new projects, particularly the Permian, as near-term spending is reduced.",
    "output": "[Cause] near-term spending is reduced [Relation] cause [Effect] near-term delays in new projects",
    "gold": "[Cause] near-term spending is reduced [Relation] cause [Effect] near-term delays in new projects",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we acknowledge the difficulty and uncertainty inherent in forecasting the timing of macroeconomic events, we think it is useful to model AMN over the entire business cycle due to staffers' heavy exposure to economic volatility.",
    "output": "[Cause] staffers' heavy exposure to economic volatility [Relation] cause [Effect] it is useful to model AMN over the entire business cycle",
    "gold": "[Cause] staffers' heavy exposure to economic volatility [Relation] cause [Effect] it is useful to model AMN over the entire business cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate demand to fall off in the latter half of the year, as excess purchasing incrementally ramps down and clients largely return to sourcing from the market leader and lowest cost producer, Baxter.",
    "output": "[Cause] excess purchasing incrementally ramps down and clients largely return to sourcing from the market leader and lowest cost producer, Baxter [Relation] cause [Effect] demand to fall off in the latter half of the year",
    "gold": "[Cause]  excess purchasing incrementally ramps down and clients largely return to sourcing from the market leader and lowest cost producer, Baxter [Relation] cause [Effect] demand to fall off in the latter half of the year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Ventas is in sectors that use a triple-net lease structure that can have long contracts with annual rent increases, there are precedents that these contracts are renegotiated if the underlying tenant operations are under pressure.",
    "output": "[Cause] the underlying tenant operations are under pressure [Relation] cause [Effect] these contracts are renegotiated",
    "gold": "[Cause] these contracts are renegotiated [Relation] cause [Effect] the underlying tenant operations are under pressure",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Category leaders tend to be in an advantaged position to gain and retain shelf space, especially in Western markets, through the deployment of category captains into the channel to share local and category-level data with retailers.",
    "output": "[Cause] the deployment of category captains into the channel to share local and category-level data with retailers [Relation] enable [Effect] Category leaders tend to be in an advantaged position to gain and retain shelf space, especially in Western markets",
    "gold": "[Cause] the deployment of category captains into the channel to share local and category-level data with retailers [Relation] enable [Effect] Category leaders tend to be in an advantaged position to gain and retain shelf space, especially in Western markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If rates remain low, we think management could direct growth investment away from Illinois toward Missouri, which offers higher allowed rates of return.",
    "output": "[Cause] management could direct growth investment away from Illinois toward Missouri [Relation] enable [Effect] higher allowed rates of return",
    "gold": "[Cause] higher allowed rates of return [Relation] cause [Effect] management could direct growth investment away from Illinois toward Missouri",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These will ultimately lead to more consumers choosing one of the portfolio's brands over time as its broad marketing bandwidth offers better share of mind.",
    "output": "[Cause] its broad marketing bandwidth offers better share of mind [Relation] cause [Effect] These will ultimately lead to more consumers choosing one of the portfolio's brands over time",
    "gold": "[Cause] its broad marketing bandwidth offers better share of mind [Relation] cause [Effect] These will ultimately lead to more consumers choosing one of the portfolio's brands over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lumen's high debt load and declining business results in meaningful financial risk, but we don't think the firm is in imminent danger of failing to meet its obligations, after significantly fortifying its balance sheet and cash savings in 2019.",
    "output": "[Cause] Lumen's high debt load and declining business [Relation] cause [Effect] meaningful financial risk",
    "gold": "[Cause] but we don't think the firm is in imminent danger of failing to meet its obligations [Relation] enable [Effect] after significantly fortifying its balance sheet and cash savings in 2019",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Global industry overcapacity, to which Volkswagen is a contributor (especially in China) puts near-term competitive advantages and long-term economic profitability at risk.",
    "output": "[Cause] Global industry overcapacity [Relation] cause [Effect] Volkswagen is a contributor (especially in China) puts near-term competitive advantages and long-term economic profitability at risk",
    "gold": "[Cause] Global industry overcapacity [Relation] cause [Effect] Volkswagen is a contributor (especially in China) puts near-term competitive advantages and long-term economic profitability at risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "During the pandemic-driven downturn, we assume Stryker's margins fall in the near term, as volume falls off, the product mix shifts toward more capital goods, and the firm attempts to keep its engineers and salesforce intact.",
    "output": "[Cause] volume falls off, the product mix shifts toward more capital goods, and the firm attempts to keep its engineers and salesforce intact [Relation] cause [Effect] Stryker's margins fall in the near term",
    "gold": "[Cause] volume falls off, the product mix shifts toward more capital goods, and the firm attempts to keep its engineers and salesforce intact [Relation] cause [Effect] Stryker's margins fall in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The South Korean government has also encouraged reduced marketing expenses several times, which is also helping profitability in the mobile market.",
    "output": "[Cause] The South Korean government has also encouraged reduced marketing expenses several times [Relation] enable [Effect] profitability in the mobile market",
    "gold": "[Cause] The South Korean government has also encouraged reduced marketing expenses several times [Relation] enable [Effect] profitability in the mobile market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The pandemic drove the firm back into a loss position in 2020, but we expect the firm will return to strong profit margins in 2022 and beyond.",
    "output": "[Cause] The pandemic [Relation] cause [Effect] the firm back into a loss position in 2020",
    "gold": "[Cause] The pandemic [Relation] cause [Effect] the firm back into a loss position in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "TransAlta's renewable energy plants--particularly hydro--have low operating costs and are usually in unique locations that make new greenfield plants difficult to site because of regulatory and environmental barriers.",
    "output": "[Cause] TransAlta's renewable energy plants--particularly hydro--have low operating costs and are usually in unique locations [Relation] cause [Effect] new greenfield plants difficult to site",
    "gold": "[Cause] regulatory and environmental barriers [Relation] cause [Effect] new greenfield plants difficult to site",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "TransAlta's renewable energy plants--particularly hydro--have low operating costs and are usually in unique locations that make new greenfield plants difficult to site because of regulatory and environmental barriers.",
    "output": "[Cause] regulatory and environmental barriers [Relation] cause [Effect] new greenfield plants difficult to site",
    "gold": "[Cause] new greenfield plants difficult to site [Relation] cause [Effect] TransAlta's renewable energy plants--particularly hydro--have low operating costs and are usually in unique locations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also foresee strong broad market growth as more and more devices, such as automobiles, wearables and Internet of Things devices, incorporate wireless connectivity.",
    "output": "[Cause] more and more devices, such as automobiles, wearables and Internet of Things devices, incorporate wireless connectivity [Relation] cause [Effect] strong broad market growth",
    "gold": "[Cause] more and more devices, such as automobiles, wearables and Internet of Things devices, incorporate wireless connectivity [Relation] cause [Effect] strong broad market growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In D&T Philips has a large installed base built during many decades, which we believe has potential for improved service retention rates through remote monitoring, product sophistication and risk-sharing agreements.",
    "output": "[Cause] remote monitoring, product sophistication and risk-sharing agreements [Relation] enable [Effect] improved service retention rates",
    "gold": "[Cause] remote monitoring, product sophistication and risk-sharing agreements [Relation] cause [Effect] improved service retention rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The social networking elements inside Tencent games, which result from WeChat's and QQ's strong network effect, are the key factor in its success.",
    "output": "[Cause] The social networking elements inside Tencent games [Relation] enable [Effect] its success",
    "gold": "[Cause] WeChat's and QQ's strong network effect [Relation] enable [Effect] The social networking elements inside Tencent games",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With an aging baby boomer population approaching retirement and looking to downsize homes, we view self-storage as a necessary solution.",
    "output": "[Cause] an aging baby boomer population approaching retirement and looking to downsize homes [Relation] cause [Effect] self-storage as a necessary solution",
    "gold": "[Cause] an aging baby boomer population approaching retirement and looking to downsize homes [Relation] enable [Effect] self-storage as a necessary solution",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, the solution allows Home Depot's customers to schedule specific date and time delivery windows, so everybody is better off.",
    "output": "[Cause] the solution allows Home Depot's customers to schedule specific date and time delivery windows [Relation] enable [Effect] everybody is better off",
    "gold": "[Cause] the solution allows Home Depot's customers to schedule specific date and time delivery windows [Relation] enable [Effect] everybody is better off",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Looking at coronavirus-related treatment delays, we assume some headwinds for hospital administered therapies (Spinraza) as well as delays to clinical trials for its novel neurology-focused pipeline (several studies expected to read out in 2020 are now poised to produce data in the first half of 2021).",
    "output": "[Cause] some headwinds for hospital administered therapies (Spinraza) as well as delays to clinical trials for its novel neurology-focused pipeline [Relation] cause [Effect] Looking at coronavirus-related treatment delays",
    "gold": "[Cause] Looking at coronavirus-related treatment delays [Relation] cause [Effect] we assume some headwinds for hospital administered therapies (Spinraza) as well as delays to clinical trials for its novel neurology-focused pipeline (several studies expected to read out in 2020 are now poised to produce data in the first half of 2021)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think the growing reliance on electronic medical records could also hinder volume growth as duplication of tests falls, or health systems rely on proprietary electronic medical records to keep independent labs out in favor of the internal hospital-based lab.",
    "output": "[Cause] duplication of tests falls [Relation] cause [Effect] the growing reliance on electronic medical records could also hinder volume growth",
    "gold": "[Cause] the growing reliance on electronic medical records [Relation] prevent [Effect] volume growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With more than 50% of global sales coming through digital channels and top market share in the global pizza space, we believe that Domino's access to customer data offers the potential for a level of customization, market-level pricing optimization, and streamlined promotional activity that peers cannot emulate.",
    "output": "[Cause] more than 50% of global sales coming through digital channels and top market share in the global pizza space [Relation] cause [Effect] Domino's access to customer data offers the potential for a level of customization, market-level pricing optimization, and streamlined promotional activity that peers cannot emulate",
    "gold": "[Cause] Domino's access to customer data [Relation] enable [Effect] offers the potential for a level of customization, market-level pricing optimization, and streamlined promotional activity that peers cannot emulate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "When economic conditions turn challenging, gross revenue trends will face stiff headwinds from softer shipment volume from customers, especially spot-related freight, along with declines in sell rates to shippers.",
    "output": "[Cause] economic conditions turn challenging [Relation] cause [Effect] gross revenue trends will face stiff headwinds from softer shipment volume from customers, especially spot-related freight, along with declines in sell rates to shippers",
    "gold": "[Cause] economic conditions turn challenging [Relation] prevent [Effect] gross revenue trends will face stiff headwinds from softer shipment volume from customers, especially spot-related freight, along with declines in sell rates to shippers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The stickiness of the relationship with the automaker and Adient's ability to innovate also help cost advantage by protecting Adient from the relentless annual pricing reductions automakers expect from suppliers, since automakers will be willing to pay up for new technology.",
    "output": "[Cause] automakers will be willing to pay up for new technology [Relation] cause [Effect] The stickiness of the relationship with the automaker and Adient's ability to innovate also help cost advantage by protecting Adient from the relentless annual pricing reductions automakers expect from suppliers",
    "gold": "[Cause] automakers will be willing to pay up for new technology [Relation] cause [Effect] The stickiness of the relationship with the automaker and Adient's ability to innovate also help cost advantage by protecting Adient from the relentless annual pricing reductions automakers expect from suppliers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because traders will go to where the index is traded, we believe the index providers have greater leverage than the exchanges.",
    "output": "[Cause] traders will go to where the index is traded [Relation] cause [Effect] the index providers have greater leverage than the exchanges",
    "gold": "[Cause] traders will go to where the index is traded [Relation] cause [Effect] the index providers have greater leverage than the exchanges",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Musk was very smart to not only design a great-looking car, but also have Tesla right away sell vehicles at a premium price point. This created tremendous media publicity for Tesla beyond its customers, which we think created a halo effect for Model 3 and Model Y demand when they were introduced, as well as for the Cybertruck, which we think is ugly but that ugliness is ironically part of its appeal.",
    "output": "[Cause] Musk was very smart to not only design a great-looking car, but also have Tesla right away sell vehicles at a premium price point [Relation] cause [Effect] created tremendous media publicity for Tesla beyond its customers, which we think created a halo effect for Model 3 and Model Y demand when they were introduced, as well as for the Cybertruck, which we think is ugly but that ugliness is ironically part of its appeal",
    "gold": "[Cause] Musk was very smart to not only design a great-looking car, but also have Tesla right away sell vehicles at a premium price point [Relation] cause [Effect] created tremendous media publicity for Tesla beyond its customers, which we think created a halo effect for Model 3 and Model Y demand when they were introduced, as well as for the Cybertruck, which we think is ugly but that ugliness is ironically part of its appeal",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we expect deflation in the prices Cogent charges, as technological advances allow the entire industry to offer these services at reduced prices.",
    "output": "[Cause] technological advances allow the entire industry to offer these services at reduced prices [Relation] cause [Effect] deflation in the prices Cogent charges",
    "gold": "[Cause] technological advances allow the entire industry to offer these services at reduced prices [Relation] cause [Effect] deflation in the prices Cogent charges",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Once integrated into the operations of a health system, the direct time and expense of switching to a competing solution is very high and comes with substantial operating risks.",
    "output": "[Cause] integrated into the operations of a health system [Relation] cause [Effect] the direct time and expense of switching to a competing solution is very high and comes with substantial operating risks",
    "gold": "[Cause]  integrated into the operations of a health system [Relation] cause [Effect] the direct time and expense of switching to a competing solution is very high and comes with substantial operating risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Increased customer proximity allows for drivers to maximize the number of customers they service on a particular route. This also leads to decreased fuel expenses which, combined with cost of drivers, account for about one third of costs of goods sold.",
    "output": "[Cause] Increased customer proximity allows for drivers to maximize the number of customers they service on a particular route [Relation] cause [Effect] decreased fuel expenses which, combined with cost of drivers, account for about one third of costs of goods sold",
    "gold": "[Cause] Increased customer proximity allows for drivers to maximize the number of customers they service on a particular route [Relation] cause [Effect]  decreased fuel expenses which, combined with cost of drivers, account for about one third of costs of goods sold",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Per our estimates, the operating leverage associated with our expectations for improving shipment volumes and the ramp-up of the company's state-of-the-art production facility in Athens, Alabama, will help Carpenter expand operating margins to a midcycle level around 10% (including surcharges).",
    "output": "[Cause] the operating leverage associated with our expectations for improving shipment volumes and the ramp-up of the company's state-of-the-art production facility in Athens, Alabama [Relation] enable [Effect] Carpenter expand operating margins to a midcycle level around 10% (including surcharges)",
    "gold": "[Cause]  the operating leverage associated with our expectations for improving shipment volumes and the ramp-up of the company's state-of-the-art production facility in Athens, Alabama [Relation] enable [Effect] Carpenter expand operating margins to a midcycle level around 10% (including surcharges)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the company has still much to benefit from in its transition to a subscription model, we think it will continue to extract greater revenue per user as it upsells its loyal and increasingly maturing base.",
    "output": "[Cause] the company has still much to benefit from in its transition to a subscription model [Relation] cause [Effect] we think it will continue to extract greater revenue per user",
    "gold": "[Cause]  it upsells its loyal and increasingly maturing base [Relation] enable [Effect] it will continue to extract greater revenue per user",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As the company has still much to benefit from in its transition to a subscription model, we think it will continue to extract greater revenue per user as it upsells its loyal and increasingly maturing base.",
    "output": "[Cause] it upsells its loyal and increasingly maturing base [Relation] enable [Effect] extract greater revenue per user",
    "gold": "[Cause] the company has still much to benefit from in its transition to a subscription model [Relation] enable [Effect] it will continue to extract greater revenue per user",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The product life for a homecare respiratory device is typically five years as this is the upgrade cycle funded by reimbursers, however new products are launched every two to three years in an effort to get price increases.",
    "output": "[Cause] this is the upgrade cycle funded by reimbursers [Relation] cause [Effect] The product life for a homecare respiratory device is typically five years",
    "gold": "[Cause]  this is the upgrade cycle funded by reimbursers [Relation] cause [Effect] The product life for a homecare respiratory device is typically five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The global food-service industry has come under pressure as several markets have restricted dine-in service to contain the coronavirus pandemic.",
    "output": "[Cause] several markets have restricted dine-in service [Relation] cause [Effect] The global food-service industry has come under pressure",
    "gold": "[Cause] The global food-service industry has come under pressure [Relation] cause [Effect] several markets have restricted dine-in service",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The global food-service industry has come under pressure as several markets have restricted dine-in service to contain the coronavirus pandemic.",
    "output": "[Cause] several markets have restricted dine-in service [Relation] cause [Effect] The global food-service industry has come under pressure",
    "gold": "[Cause] several markets have restricted dine-in service [Relation] enable [Effect] contain the coronavirus pandemic",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, these highly localized markets do not offer a structural competitive advantage as they do in upstream products as market entry is much easier.",
    "output": "[Cause] market entry is much easier [Relation] cause [Effect] these highly localized markets do not offer a structural competitive advantage as they do in upstream products",
    "gold": "[Cause] market entry is much easier [Relation] enable [Effect] these highly localized markets do not offer a structural competitive advantage as they do in upstream products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, we think Littelfuse's renewable energy exposure will grow, and along with rising industrial safety standards will help offset secular declines in oil and gas to help the industrial segment grow roughly in line with GDP following a strong 2021.",
    "output": "[Cause] Littelfuse's renewable energy exposure will grow, and along with rising industrial safety standards [Relation] enable [Effect] offset secular declines in oil and gas to help the industrial segment grow roughly in line with GDP following a strong 2021",
    "gold": "[Cause] rising industrial safety standards will help offset secular declines in oil and gas to help the industrial segment grow roughly in line with GDP following a strong 2021 [Relation] cause [Effect] Littelfuse's renewable energy exposure will grow,",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe that the OMO business will also serve as one of the key drivers in the near term, as TAL can leverage its existing students at a lower acquisition cost.",
    "output": "[Cause] TAL can leverage its existing students at a lower acquisition cost [Relation] cause [Effect] the OMO business will also serve as one of the key drivers in the near term",
    "gold": "[Cause] TAL can leverage its existing students at a lower acquisition cost [Relation] cause [Effect]  the OMO business will also serve as one of the key drivers in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Regions has historically had a credit cost disadvantage, largely due to the ill-timed acquisition of AmSouth just before the financial crisis, where portions of the loan book were eventually sold for $0.50 on the dollar.",
    "output": "[Cause] the ill-timed acquisition of AmSouth just before the financial crisis [Relation] cause [Effect] Regions has historically had a credit cost disadvantage",
    "gold": "[Cause] the ill-timed acquisition of AmSouth just before the financial crisis [Relation] cause [Effect] Regions has historically had a credit cost disadvantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we anticipate that COVID-19 vaccine distribution will allow travel to return to growth, we recognize that the progression of the recovery is likely to be choppy and have an uncertain time frame.",
    "output": "[Cause] COVID-19 vaccine distribution [Relation] enable [Effect] travel to return to growth",
    "gold": "[Cause]  COVID-19 vaccine distribution [Relation] enable [Effect]  travel to return to growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The suppliers' expertise and training services enable these firms' salsifies to forge relationships with its fragmented customer base, but we do not believe these relationships are significant enough to form a meaningful switching cost benefit.",
    "output": "[Cause] The suppliers' expertise and training services [Relation] enable [Effect] these firms' salsifies to forge relationships with its fragmented customer base",
    "gold": "[Cause] The suppliers' expertise and training services [Relation] enable [Effect] these firms' salsifies to forge relationships with its fragmented customer base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're anticipating that TransDigm can grow faster than the overall commercial aftermarket because of organic growth and consistent inorganic growth.",
    "output": "[Cause] organic growth and consistent inorganic growth [Relation] cause [Effect] TransDigm can grow faster than the overall commercial aftermarket",
    "gold": "[Cause]  organic growth and consistent inorganic growth [Relation] cause [Effect]  TransDigm can grow faster than the overall commercial aftermarket",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think there is conservatism baked in to management's guide given Dover's typical seasonality and the strong demand evidenced in its book-to-bill ratios.",
    "output": "[Cause] Dover's typical seasonality and the strong demand evidenced in its book-to-bill ratios [Relation] cause [Effect] there is conservatism baked in to management's guide",
    "gold": "[Cause]  Dover's typical seasonality and the strong demand evidenced in its book-to-bill ratios [Relation] cause [Effect]  there is conservatism baked in to management's guide",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Partly due to store closures related to the pandemic, Nike expects digital sales from its own channels and those of wholesale partners to increase to as much as 30% of its sales this year.",
    "output": "[Cause] store closures related to the pandemic [Relation] cause [Effect] Nike expects digital sales from its own channels and those of wholesale partners to increase to as much as 30% of its sales this year",
    "gold": "[Cause] store closures related to the pandemic [Relation] cause [Effect] Nike expects digital sales from its own channels and those of wholesale partners to increase to as much as 30% of its sales this year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Partly due to store closures related to the pandemic, Nike expects digital sales from its own channels and those of wholesale partners to increase to as much as 30% of its sales this year.",
    "output": "[Cause] store closures related to the pandemic [Relation] cause [Effect] Nike expects digital sales from its own channels and those of wholesale partners to increase to as much as 30% of its sales this year",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] store closures",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, ongoing PAMA-related reimbursement cuts from CMS may cut into the pricing power of diagnostic players eventually, but so far, we have not seen evidence of that.",
    "output": "[Cause] ongoing PAMA-related reimbursement cuts from CMS [Relation] prevent [Effect] cut into the pricing power of diagnostic players eventually",
    "gold": "[Cause] ongoing PAMA-related reimbursement cuts from CMS [Relation] cause [Effect] cut into the pricing power of diagnostic players eventually",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Beyond these upfront costs, the ongoing costs associated with ensuring compliance due to stringent regulatory standards remain high. These factors contribute to significant entry barriers for new competitors, which has been highlighted by recent shortages in IV solutions and nutritionals where market share shifts have occurred primarily between existing players rather than inviting significant new competition.",
    "output": "[Cause] Beyond these upfront costs, the ongoing costs associated with ensuring compliance due to stringent regulatory standards remain high [Relation] cause [Effect] significant entry barriers for new competitors, which has been highlighted by recent shortages in IV solutions and nutritionals where market share shifts have occurred primarily between existing players rather than inviting significant new competition",
    "gold": "[Cause] Beyond these upfront costs, the ongoing costs associated with ensuring compliance due to stringent regulatory standards remain high [Relation] cause [Effect]  significant entry barriers for new competitors, which has been highlighted by recent shortages in IV solutions and nutritionals where market share shifts have occurred primarily between existing players rather than inviting significant new competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast that Check Point will see near-term turbulence in its products and licenses business as enterprises migrate toward software-defined products from hardware appliances.",
    "output": "[Cause] enterprises migrate toward software-defined products from hardware appliances [Relation] cause [Effect] Check Point will see near-term turbulence in its products and licenses business",
    "gold": "[Cause] enterprises migrate toward software-defined products from hardware appliances [Relation] cause [Effect] Check Point will see near-term turbulence in its products and licenses business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Markel's equity-heavy investing approach generates more risk than the average P&C insurer carries on the investment side, and a decline in the equity market could ding the company's capital position and weigh on results.",
    "output": "[Cause] a decline in the equity market [Relation] cause [Effect] ding the company's capital position and weigh on results",
    "gold": "[Cause] [Relation] enable [Effect]  Markel's equity-heavy investing approach generates more risk than the average P&C insurer carries on the investment side |  and a decline in the equity market could ding the company's capital position and weigh on results",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "On the international side, we anticipate that continued expansion in Europe and entry into emerging markets will play a greater role in Hologic's top-line growth.",
    "output": "[Cause] continued expansion in Europe and entry into emerging markets [Relation] enable [Effect] play a greater role in Hologic's top-line growth",
    "gold": "[Cause] continued expansion in Europe and entry into emerging markets [Relation] enable [Effect]  play a greater role in Hologic's top-line growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect higher lithium prices and volume will help Albemarle's lithium EBITDA grow roughly 5 times over the next decade.",
    "output": "[Cause] higher lithium prices and volume [Relation] enable [Effect] Albemarle's lithium EBITDA grow roughly 5 times over the next decade",
    "gold": "[Cause] higher lithium prices and volume [Relation] enable [Effect] Albemarle's lithium EBITDA grow roughly 5 times over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The entity's 45% market share in G&P by our estimates as part of a midstream duopoly means competition for new investment opportunities is minimal as competitors would need to build both G&P assets and pipelines because of the ability for DCP to block connections, lowering returns.",
    "output": "[Cause] competitors would need to build both G&P assets and pipelines because of the ability for DCP to block connections, lowering returns [Relation] cause [Effect] The entity's 45% market share in G&P by our estimates as part of a midstream duopoly means competition for new investment opportunities is minimal",
    "gold": "[Cause]  competitors would need to build both G&P assets and pipelines because of the ability for DCP to block connections, lowering returns [Relation] cause [Effect] The entity's 45% market share in G&P by our estimates as part of a midstream duopoly means competition for new investment opportunities is minimal",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "UP's operating ratio (expenses/revenue) improved a solid 210 basis points in 2019 to 60.6% on the back of PSR-related efficiency gains.",
    "output": "[Cause] PSR-related efficiency gains [Relation] cause [Effect] UP's operating ratio (expenses/revenue) improved a solid 210 basis points in 2019 to 60.6%",
    "gold": "[Cause] UP's operating ratio (expenses/revenue) improved a solid 210 basis points in 2019 to 60.6% [Relation] cause [Effect]  PSR-related efficiency gains",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We have been concerned that near-term renewable energy growth might slow as potential counterparties are reluctant to make commitments until the impact of COVID-19 fades.",
    "output": "[Cause] potential counterparties are reluctant to make commitments until the impact of COVID-19 fades [Relation] cause [Effect] near-term renewable energy growth might slow",
    "gold": "[Cause] potential counterparties are reluctant to make commitments until the impact of COVID-19 fades [Relation] cause [Effect] near-term renewable energy growth might slow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The ultralow interest rate environment--of which Thermo Fisher took ample advantage--has only made the company even more aggressive and a desirable acquisition partner, as only a handful of other life science firms have the balance sheet to support comparable large deals.",
    "output": "[Cause] The ultralow interest rate environment [Relation] enable [Effect] Thermo Fisher took ample advantage",
    "gold": "[Cause] The ultralow interest rate environment--of which Thermo Fisher took ample advantage [Relation] enable [Effect] the company even more aggressive and a desirable acquisition partner",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The ultralow interest rate environment--of which Thermo Fisher took ample advantage--has only made the company even more aggressive and a desirable acquisition partner, as only a handful of other life science firms have the balance sheet to support comparable large deals.",
    "output": "[Cause] only a handful of other life science firms have the balance sheet to support comparable large deals [Relation] cause [Effect] the company even more aggressive and a desirable acquisition partner",
    "gold": "[Cause] only a handful of other life science firms have the balance sheet to support comparable large deals [Relation] cause [Effect] the company even more aggressive and a desirable acquisition partner",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The French government's significant 23% stake in Orange, along with the firm's large civil servant workforce in France, limits the company's capacity to improve its operational efficiency through headcount cuts and business restructuring.",
    "output": "[Cause] The French government's significant 23% stake in Orange, along with the firm's large civil servant workforce in France [Relation] prevent [Effect] the company's capacity to improve its operational efficiency through headcount cuts and business restructuring",
    "gold": "[Cause] The French government's significant 23% stake in Orange, along with the firm's large civil servant workforce in France [Relation] prevent [Effect]  the company's capacity to improve its operational efficiency through headcount cuts and business restructuring",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As such, a strong track record of reliability is crucial to win business, considering the risk of product failures leading to unplanned outages or wasted material.",
    "output": "[Cause] the risk of product failures leading to unplanned outages or wasted material [Relation] cause [Effect] a strong track record of reliability is crucial to win business",
    "gold": "[Cause] the risk of product failures leading to unplanned outages or wasted material [Relation] cause [Effect] a strong track record of reliability is crucial to win business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With signed up users already at 600 million and a handful of other competitive offers, increasing paid user conversion is the key metric to follow, in our view, and is currently not trending in a positive direction.",
    "output": "[Cause] signed up users already at 600 million and a handful of other competitive offers [Relation] cause [Effect] increasing paid user conversion is the key metric to follow",
    "gold": "[Cause] increasing paid user conversion [Relation] prevent [Effect] trending in a positive direction",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe that customers will typically repurchase high-end storage from their existing suppliers because of compatibility concerns in changing vendors, if past performance and services met the customer's demand.",
    "output": "[Cause] compatibility concerns in changing vendors [Relation] cause [Effect] customers will typically repurchase high-end storage from their existing suppliers",
    "gold": "[Cause] past performance and services met the customer's demand [Relation] cause [Effect] customers will typically repurchase high-end storage from their existing suppliers because of compatibility concerns in changing vendors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think this lack of consistent economic profits provides additional evidence for our conclusion that Simply Good Foods does not maintain a competitive edge.",
    "output": "[Cause] lack of consistent economic profits [Relation] cause [Effect] additional evidence for our conclusion that Simply Good Foods does not maintain a competitive edge",
    "gold": "[Cause] lack of consistent economic profits [Relation] enable [Effect] additional evidence for our conclusion that Simply Good Foods does not maintain a competitive edge",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After stringing together decent growth in the early 2010s, inventory clearance and stock-keeping unit creep of lower-productivity brands hurt Mattel's performance throughout 2017-18.",
    "output": "[Cause] inventory clearance and stock-keeping unit creep of lower-productivity brands [Relation] cause [Effect] hurt Mattel's performance throughout 2017-18",
    "gold": "[Cause] inventory clearance and stock-keeping unit creep of lower-productivity brands [Relation] cause [Effect]  hurt Mattel's performance throughout 2017-18",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The scale of its data and the best-in-class analytical technology IQVIA layers with its data create a high barrier to entry.",
    "output": "[Cause] The scale of its data and the best-in-class analytical technology IQVIA layers with its data [Relation] cause [Effect] a high barrier to entry",
    "gold": "[Cause] The scale of its data and the best-in-class analytical technology IQVIA layers with its data [Relation] cause [Effect] a high barrier to entry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition to making up over 50% of the partnership's gross operating margin today, Oneok's NGL business will serve as its primary growth engine through the rest of the decade as countries use more lighter olefins for heating and industrial end uses.",
    "output": "[Cause] countries use more lighter olefins for heating and industrial end uses [Relation] cause [Effect] Oneok's NGL business will serve as its primary growth engine through the rest of the decade",
    "gold": "[Cause] countries use more lighter olefins for heating and industrial end uses [Relation] cause [Effect] Oneok's NGL business will serve as its primary growth engine through the rest of the decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fierce competition during the consolidation phase could raise acquisition prices too much for Grubhub, more likely than not minimizing returns on investment.",
    "output": "[Cause] Fierce competition during the consolidation phase [Relation] cause [Effect] raise acquisition prices too much for Grubhub",
    "gold": "[Cause] Fierce competition during the consolidation phase [Relation] cause [Effect] raise acquisition prices too much for Grubhub",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fierce competition during the consolidation phase could raise acquisition prices too much for Grubhub, more likely than not minimizing returns on investment.",
    "output": "[Cause] raise acquisition prices too much for Grubhub [Relation] cause [Effect] minimizing returns on investment",
    "gold": "[Cause] raise acquisition prices too much for Grubhub [Relation] cause [Effect] minimizing returns on investment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see the net charge-off ratio normalizing to 0.3% as Cullen/Frost increases the overall mix of its loans coming from consumer lending, although we anticipate elevated losses in 2021 as the latest energy downturn and COVID-19 play out.",
    "output": "[Cause] Cullen/Frost increases the overall mix of its loans coming from consumer lending [Relation] cause [Effect] the net charge-off ratio normalizing to 0.3%",
    "gold": "[Cause]  Cullen/Frost increases the overall mix of its loans coming from consumer lending [Relation] cause [Effect] the net charge-off ratio normalizing to 0.3%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the resulting improved cash flow, we expect BRP will reinvest in product innovation, facilitate share repurchases, and reinstate its dividend once COVID-19 subsides.",
    "output": "[Cause] the resulting improved cash flow [Relation] enable [Effect] BRP will reinvest in product innovation, facilitate share repurchases, and reinstate its dividend once COVID-19 subsides",
    "gold": "[Cause] the resulting improved cash flow [Relation] enable [Effect] BRP will reinvest in product innovation, facilitate share repurchases, and reinstate its dividend once COVID-19 subsides",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The challenge for Plains in the aftermath of COVID-19 is that short-term demand destruction is Permian volumes is going to be highly volatile.",
    "output": "[Cause] short-term demand destruction is Permian volumes is going to be highly volatile [Relation] cause [Effect] The challenge for Plains in the aftermath of COVID-19",
    "gold": "[Cause]  short-term demand destruction is Permian volumes is going to be highly volatile [Relation] cause [Effect] The challenge for Plains in the aftermath of COVID-19",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the Canadian banking environment offers systemic cost advantages, which manifest in the form of lower operating costs, lower credit costs, lower regulatory costs, and lower absolute levels of and better diversification of risks, all of which allow the banks to achieve greater risk-adjusted returns.",
    "output": "[Cause] the Canadian banking environment offers systemic cost advantages [Relation] enable [Effect] the banks to achieve greater risk-adjusted returns",
    "gold": "[Cause] the Canadian banking environment offers systemic cost advantages [Relation] cause [Effect] the banks to achieve greater risk-adjusted returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the vaccine's excellent efficacy, strong supply, and early leadership on the market all support $24 billion in Comirnaty sales annually in 2021 and 2022 (and roughly 50% of gross profits flowing to BioNTech).",
    "output": "[Cause] the vaccine's excellent efficacy, strong supply, and early leadership on the market [Relation] enable [Effect] $24 billion in Comirnaty sales annually in 2021 and 2022 (and roughly 50% of gross profits flowing to BioNTech)",
    "gold": "[Cause] the vaccine's excellent efficacy, strong supply, and early leadership on the market [Relation] enable [Effect] support $24 billion in Comirnaty sales annually in 2021 and 2022",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This allows Amazon to generate strong cash flow, which in turn can be reinvested in advertising, customer service, and website enhancements that keep its marketplace robust and customer loyalty strong.",
    "output": "[Cause] This allows Amazon to generate strong cash flow [Relation] enable [Effect] reinvested in advertising, customer service, and website enhancements that keep its marketplace robust and customer loyalty strong",
    "gold": "[Cause]  strong cash flow, which in turn can be reinvested in advertising, customer service, and website enhancements [Relation] enable [Effect]  keep its marketplace robust and customer loyalty strong",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As a result of declining oil prices and waning demand for iron ore, Brazilian tax receipts have taken a hit.",
    "output": "[Cause] declining oil prices and waning demand for iron ore [Relation] cause [Effect] Brazilian tax receipts have taken a hit",
    "gold": "[Cause]  declining oil prices and waning demand for iron ore [Relation] cause [Effect]  Brazilian tax receipts have taken a hit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Edwards has established itself as the leader in transcatheter aortic valve franchise, or TAVR, wiht its Sapien product which is delivered either through the femoral artery (similar to an angioplasty) or through a small hole between two ribs.",
    "output": "[Cause] its Sapien product which is delivered either through the femoral artery (similar to an angioplasty) or through a small hole between two ribs [Relation] enable [Effect] Edwards has established itself as the leader in transcatheter aortic valve franchise, or TAVR",
    "gold": "[Cause] Edwards has established itself as the leader in transcatheter aortic valve franchise, or TAVR [Relation] cause [Effect]  its Sapien product which is delivered either through the femoral artery (similar to an angioplasty) or through a small hole between two ribs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although CP's intermodal franchise growth has lagged that of CN over the past decade, we expect PSR related service enhancements to drive incremental growth opportunities as economic conditions recover.",
    "output": "[Cause] economic conditions recover [Relation] cause [Effect] PSR related service enhancements to drive incremental growth opportunities",
    "gold": "[Cause] PSR related service enhancements [Relation] cause [Effect] drive incremental growth opportunities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This could lead to employee frustration if paychecks are delayed or if there are delays to benefits administration, and in severe cases, employees could quit the firm.",
    "output": "[Cause] paychecks are delayed or if there are delays to benefits administration [Relation] cause [Effect] employee frustration",
    "gold": "[Cause] paychecks are delayed or if there are delays to benefits administration [Relation] cause [Effect] employee frustration",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we don't see any material issues right now, we would like to see the firm improve its ESG disclosure policies to increase our confidence that it is managing its affairs properly.",
    "output": "[Cause] the firm improve its ESG disclosure policies [Relation] enable [Effect] increase our confidence that it is managing its affairs properly",
    "gold": "[Cause]  the firm improve its ESG disclosure policies [Relation] cause [Effect]  increase our confidence that it is managing its affairs properly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the e-commerce market's size to greatly increase over the medium term and that this will boost air cargo demand.",
    "output": "[Cause] the e-commerce market's size to greatly increase over the medium term [Relation] enable [Effect] boost air cargo demand",
    "gold": "[Cause] the e-commerce market's size to greatly increase over the medium term [Relation] cause [Effect] boost air cargo demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We acknowledge that certain consumables may lack pricing power in a market downturn, but spare parts and services are mostly proprietary, which low-cost competitors would be unable to replicate.",
    "output": "[Cause] spare parts and services are mostly proprietary [Relation] cause [Effect] low-cost competitors would be unable to replicate",
    "gold": "[Cause] spare parts and services are mostly proprietary [Relation] cause [Effect] low-cost competitors would be unable to replicate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The challenges of brick-and-mortar retail have left the commercial real estate market well-supplied with attractively located opportunities, a dynamic strengthened by the pandemic as retailers struggle.",
    "output": "[Cause] The challenges of brick-and-mortar retail [Relation] cause [Effect] the commercial real estate market well-supplied with attractively located opportunities",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] a dynamic strengthened",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The challenges of brick-and-mortar retail have left the commercial real estate market well-supplied with attractively located opportunities, a dynamic strengthened by the pandemic as retailers struggle.",
    "output": "[Cause] The challenges of brick-and-mortar retail [Relation] cause [Effect] the commercial real estate market well-supplied with attractively located opportunities",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] retailers struggle",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect Arrow's global enterprise computing segment will see low-single-digit revenue growth, with services and software offsetting flat performance or declines in servers and storage.",
    "output": "[Cause] services and software offsetting flat performance or declines in servers and storage [Relation] cause [Effect] Arrow's global enterprise computing segment will see low-single-digit revenue growth",
    "gold": "[Cause] services and software offsetting flat performance or declines in servers and storage [Relation] cause [Effect] Arrow's global enterprise computing segment will see low-single-digit revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, as most potential customers are risk averse and cannot accept additional costs from unplanned downtime, they will look for evidence of credibility (for example, track record) to eliminate any potential risks of additional economic costs from downtime.",
    "output": "[Cause] most potential customers are risk averse and cannot accept additional costs from unplanned downtime [Relation] cause [Effect] they will look for evidence of credibility",
    "gold": "[Cause] most potential customers are risk averse and cannot accept additional costs from unplanned downtime [Relation] cause [Effect] eliminate any potential risks of additional economic costs from downtime",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast total rooms averaging annual growth of 5.6% over the next decade, driven by our managed and franchised 10-year annual forecast of 6.1% growth.",
    "output": "[Cause] our managed and franchised 10-year annual forecast of 6.1% growth [Relation] cause [Effect] We forecast total rooms averaging annual growth of 5.6% over the next decade",
    "gold": "[Cause] our managed and franchised 10-year annual forecast of 6.1% growth [Relation] cause [Effect] We forecast total rooms averaging annual growth of 5.6% over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As China, Hong Kong, and Singapore are important pools of wealth and growing trade corridors, the bank's pivot toward Asia (about 75% of pretax profit) makes strategic sense.",
    "output": "[Cause] China, Hong Kong, and Singapore are important pools of wealth and growing trade corridors [Relation] cause [Effect] the bank's pivot toward Asia (about 75% of pretax profit) makes strategic sense",
    "gold": "[Cause]  China, Hong Kong, and Singapore are important pools of wealth and growing trade corridors [Relation] cause [Effect] the bank's pivot toward Asia (about 75% of pretax profit) makes strategic sense",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cost AdvantageThroughout much of Latin America, Ambev's cost advantage is powerful and helps to sustain its high market shares.",
    "output": "[Cause] Cost AdvantageThroughout much of Latin America [Relation] enable [Effect] sustain its high market shares",
    "gold": "[Cause] Ambev's cost advantage is powerful [Relation] enable [Effect] sustain its high market shares",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over the longer term, we expect features such as the development of predictive algorithms and integration with continuous glucose monitors to support growth in the user base, which should support further penetration of the type 2 diabetes patient pool.",
    "output": "[Cause] features such as the development of predictive algorithms and integration with continuous glucose monitors [Relation] enable [Effect] growth in the user base",
    "gold": "[Cause] features such as the development of predictive algorithms and integration with continuous glucose monitors [Relation] enable [Effect] growth in the user base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the longer term, we expect features such as the development of predictive algorithms and integration with continuous glucose monitors to support growth in the user base, which should support further penetration of the type 2 diabetes patient pool.",
    "output": "[Cause] features such as the development of predictive algorithms and integration with continuous glucose monitors [Relation] enable [Effect] further penetration of the type 2 diabetes patient pool",
    "gold": "[Cause] features such as the development of predictive algorithms and integration with continuous glucose monitors [Relation] enable [Effect] further penetration of the type 2 diabetes patient pool",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The multifamily real estate market on the West Coast has benefited over the past decade from demographic trends such as a falling homeownership rate, the rising relative cost of single-family housing, and urban gentrification. These trends are driven by the tastes and desires of millennials, whose behavior may change as they age and acquire enough capital to own single-family homes.",
    "output": "[Cause] The multifamily real estate market on the West Coast has benefited over the past decade from demographic trends such as a falling homeownership rate, the rising relative cost of single-family housing, and urban gentrification [Relation] cause [Effect] driven by the tastes and desires of millennials, whose behavior may change as they age and acquire enough capital to own single-family homes",
    "gold": "[Cause]  the tastes and desires of millennials, whose behavior may change as they age and acquire enough capital to own single-family homes [Relation] enable [Effect] The multifamily real estate market on the West Coast has benefited over the past decade from demographic trends such as a falling homeownership rate, the rising relative cost of single-family housing, and urban gentrification",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company is becoming further entrenched with its current consumers, and we believe that the expansion will grow its brand awareness while diversifying its customer base.",
    "output": "[Cause] The company is becoming further entrenched with its current consumers [Relation] cause [Effect] the expansion will grow its brand awareness while diversifying its customer base",
    "gold": "[Cause] the expansion [Relation] cause [Effect] grow its brand awareness while diversifying its customer base",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although ArcelorMittal's expansive global footprint increases the regulatory, legal, and demographic risks associated with the company, the immense scale of the company's operations dilutes the impact of potential operational disruptions in any one location.",
    "output": "[Cause] ArcelorMittal's expansive global footprint [Relation] enable [Effect] increases the regulatory, legal, and demographic risks associated with the company",
    "gold": "[Cause] the immense scale of the company's operations [Relation] prevent [Effect]  the impact of potential operational disruptions in any one location",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although ArcelorMittal's expansive global footprint increases the regulatory, legal, and demographic risks associated with the company, the immense scale of the company's operations dilutes the impact of potential operational disruptions in any one location.",
    "output": "[Cause] the immense scale of the company's operations [Relation] prevent [Effect] the impact of potential operational disruptions in any one location",
    "gold": "[Cause] ArcelorMittal's expansive global footprint [Relation] enable [Effect]  the regulatory, legal, and demographic risks associated with the company",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The uniqueness can be viewed as good or bad鈥攇ood for retention once a customer is acquired but perhaps negative because clients might fear being locked into a proprietary architecture.",
    "output": "[Cause] clients might fear being locked into a proprietary architecture [Relation] cause [Effect] The uniqueness can be viewed as good or badood for retention once a customer is acquired but perhaps negative",
    "gold": "[Cause] clients might fear being locked into a proprietary architecture [Relation] cause [Effect] The uniqueness can be viewed as good or bad鈥攇ood for retention once a customer is acquired but perhaps negative",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Early on, the company focused on expanding its audience on Zillow.com, allowing it to overtake rival Realtor.com in the race to achieve pre-eminence as the largest real estate network on the web.",
    "output": "[Cause] the company focused on expanding its audience on Zillow.com [Relation] enable [Effect] it to overtake rival Realtor.com in the race to achieve pre-eminence as the largest real estate network on the web",
    "gold": "[Cause] the largest real estate network on the web [Relation] cause [Effect] the company focused on expanding its audience on Zillow.com, allowing it to overtake rival Realtor.com in the race to achieve pre-eminence",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We rate Digital Realty as a high-uncertainty stock primarily because the capital-heavy nature of its business minimizes its ability to be agile in the face of a market downturn.",
    "output": "[Cause] the capital-heavy nature of its business minimizes its ability to be agile in the face of a market downturn [Relation] cause [Effect] We rate Digital Realty as a high-uncertainty stock primarily",
    "gold": "[Cause]  the capital-heavy nature of its business minimizes its ability to be agile in the face of a market downturn [Relation] cause [Effect] We rate Digital Realty as a high-uncertainty stock primarily",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Emerson does enjoy some modest pricing power ahead of cost, we believe most pricing uplifts are more a result of incrementally selling higher-end products in its product mix.",
    "output": "[Cause] incrementally selling higher-end products in its product mix [Relation] cause [Effect] most pricing uplifts",
    "gold": "[Cause] incrementally selling higher-end products in its product mix [Relation] cause [Effect] most pricing uplifts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think power chips are most likely to be designed for the entirety of a product lifecycle, as switching components requires a partial system redesign, incurring with it time and monetary cost, as well as production disruption.",
    "output": "[Cause] switching components requires a partial system redesign [Relation] cause [Effect] power chips are most likely to be designed for the entirety of a product lifecycle",
    "gold": "[Cause] switching components requires a partial system redesign [Relation] cause [Effect] power chips are most likely to be designed for the entirety of a product lifecycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think power chips are most likely to be designed for the entirety of a product lifecycle, as switching components requires a partial system redesign, incurring with it time and monetary cost, as well as production disruption.",
    "output": "[Cause] switching components requires a partial system redesign [Relation] cause [Effect] power chips are most likely to be designed for the entirety of a product lifecycle",
    "gold": "[Cause] switching components requires a partial system redesign [Relation] cause [Effect] time and monetary cost, as well as production disruption",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The continued focus on complex generics and specialty drugs are critical to remain the leading generic drug manufacturer and fend off the second-largest manufacturer, Mylan, along with less sophisticated emerging international competitors.",
    "output": "[Cause] The continued focus on complex generics and specialty drugs [Relation] enable [Effect] remain the leading generic drug manufacturer and fend off the second-largest manufacturer, Mylan, along with less sophisticated emerging international competitors",
    "gold": "[Cause] remain the leading generic drug manufacturer and fend off the second-largest manufacturer [Relation] cause [Effect] The continued focus on complex generics and specialty drugs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, many of Healthpeak's triple-net leases grow only at inflationary levels, as they are frequently tied to the Consumer Price Index (though they often have floors of 2% and ceilings of 3%).",
    "output": "[Cause] they are frequently tied to the Consumer Price Index (though they often have floors of 2% and ceilings of 3%) [Relation] cause [Effect] many of Healthpeak's triple-net leases grow only at inflationary levels",
    "gold": "[Cause] they are frequently tied to the Consumer Price Index (though they often have floors of 2% and ceilings of 3%) [Relation] cause [Effect] many of Healthpeak's triple-net leases grow only at inflationary levels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The consolidation of these two led to a large increase in tax depreciation, as the acquired assets were revalued at the purchase price rather than the historical cost for tax purposes.",
    "output": "[Cause] the acquired assets were revalued at the purchase price rather than the historical cost for tax purposes [Relation] cause [Effect] The consolidation of these two led to a large increase in tax depreciation",
    "gold": "[Cause] The consolidation of these two  | the acquired assets were revalued at the purchase price [Relation] cause [Effect]  a large increase in tax depreciation",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Still, STMicro's leading technologies and strong position in the automotive market are reasons to be optimistic about the future, with especially promising opportunities in time-of-flight sensors and silicon carbide-based power products.",
    "output": "[Cause] STMicro's leading technologies and strong position in the automotive market [Relation] cause [Effect] be optimistic about the future",
    "gold": "[Cause] STMicro's leading technologies and strong position in the automotive market [Relation] cause [Effect]  be optimistic about the future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Still, STMicro's leading technologies and strong position in the automotive market are reasons to be optimistic about the future, with especially promising opportunities in time-of-flight sensors and silicon carbide-based power products.",
    "output": "[Cause] especially promising opportunities in time-of-flight sensors and silicon carbide-based power products [Relation] cause [Effect] be optimistic about the future",
    "gold": "[Cause] especially promising opportunities in time-of-flight sensors and silicon carbide-based power products [Relation] cause [Effect]  be optimistic about the future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect a rebound in GDP and customer capital expenditures to push 2021 gross margins to their highest level since the firm's Motorola acquisition.",
    "output": "[Cause] a rebound in GDP and customer capital expenditures [Relation] enable [Effect] push 2021 gross margins to their highest level since the firm's Motorola acquisition",
    "gold": "[Cause] the firm's Motorola acquisition [Relation] enable [Effect]  a rebound in GDP and customer capital expenditures to push 2021 gross margins to their highest level",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We estimate Ulta's adjusted ROIC including goodwill will fall to 6.5% in 2020 from 22.3% in 2019 due to the pandemic but will average 26.6% in 2021-29.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] Ulta's adjusted ROIC including goodwill will fall to 6.5% in 2020 from 22.3% in 2019",
    "gold": "[Cause] Ulta's adjusted ROIC [Relation] cause [Effect] goodwill will fall to 6.5% in 2020 from 22.3% in 2019",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given its engineering teams already know the ins and outs of the products in question (and may even be located on-site), Amphenol is better suited to co-develop new technologies or accommodate modifications, providing a greater value-add than a potential replacement.",
    "output": "[Cause] its engineering teams already know the ins and outs of the products in question (and may even be located on-site) [Relation] cause [Effect] Amphenol is better suited to co-develop new technologies or accommodate modifications, providing a greater value-add than a potential replacement",
    "gold": "[Cause] Given its engineering teams already know the ins and outs of the products in question [Relation] cause [Effect] Amphenol is better suited to co-develop new technologies or accommodate modifications",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We don't model many acquisitions due to management's emphasis on EchoPark over franchise stores and their frustration with continued demands from automakers for expensive store imaging projects with returns that Sonic feels do not justify the investment.",
    "output": "[Cause] expensive store imaging projects with returns that Sonic feels do not justify the investment [Relation] cause [Effect] We don't model many acquisitions",
    "gold": "[Cause] expensive store imaging projects with returns that Sonic feels do not justify the investment [Relation] cause [Effect] We don't model many acquisitions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, without availability of cookies, the firm's high client retention rate is threatened as ROIs on ads purchased will decline.",
    "output": "[Cause] without availability of cookies [Relation] cause [Effect] the firm's high client retention rate is threatened",
    "gold": "[Cause] ROIs on ads purchased will decline [Relation] cause [Effect] without availability of cookies, the firm's high client retention rate is threatened",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, without availability of cookies, the firm's high client retention rate is threatened as ROIs on ads purchased will decline.",
    "output": "[Cause] ROIs on ads purchased will decline [Relation] cause [Effect] the firm's high client retention rate is threatened",
    "gold": "[Cause] without availability of cookies [Relation] enable [Effect] the firm's high client retention rate is threatened",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We see net charge-off ratios normalizing to 0.6%, and despite the pressure from the pandemic, we expect that Truist is largely already reserved for the losses that will transpire, resulting in much lower provisioning for the next year or two.",
    "output": "[Cause] Truist is largely already reserved for the losses that will transpire [Relation] cause [Effect] much lower provisioning for the next year or two",
    "gold": "[Cause] Truist is largely already reserved for the losses that will transpire [Relation] cause [Effect] much lower provisioning for the next year or two",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect aggregates shipment volume to increase to roughly 245 million tons within the five-year explicit forecast period of our discounted cash flow model, driven by economic recovery, pent-up construction demand, and acquisitions.",
    "output": "[Cause] economic recovery, pent-up construction demand, and acquisitions [Relation] cause [Effect] aggregates shipment volume to increase to roughly 245 million tons within the five-year explicit forecast period of our discounted cash flow model",
    "gold": "[Cause] economic recovery, pent-up construction demand, and acquisitions [Relation] enable [Effect] aggregates shipment volume to increase to roughly 245 million tons within the five-year explicit forecast period of our discounted cash flow model",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The Formula One racing team's notoriety and its technological innovation spur demand for the sale of on-road Ferrari cars.",
    "output": "[Cause] The Formula One racing team's notoriety and its technological innovation [Relation] cause [Effect] demand for the sale of on-road Ferrari cars",
    "gold": "[Cause] The Formula One racing team's notoriety and its technological innovation [Relation] cause [Effect] demand for the sale of on-road Ferrari cars",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It appeared that historically tough Connecticut regulation had improved after constructive regulatory outcomes in Eversource's most recent rate cases and legislation that supported clean energy investments.",
    "output": "[Cause] constructive regulatory outcomes in Eversource's most recent rate cases and legislation that supported clean energy investments [Relation] cause [Effect] historically tough Connecticut regulation had improved",
    "gold": "[Cause] constructive regulatory outcomes in Eversource's most recent rate cases and legislation that supported clean energy investments [Relation] enable [Effect] historically tough Connecticut regulation had improved",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast recreational volume to rise roughly 12% per year on average as distribution expands, consumers convert from the black market, and nonconsumers become consumers.",
    "output": "[Cause] distribution expands, consumers convert from the black market, and nonconsumers become consumers [Relation] cause [Effect] recreational volume to rise roughly 12% per year on average",
    "gold": "[Cause]  distribution expands, consumers convert from the black market, and nonconsumers become consumers [Relation] cause [Effect] recreational volume to rise roughly 12% per year on average",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe margin expansion will drive even faster earnings growth as manufacturing yields improve and customers continue to switch to higher-priced daily disposable lenses.",
    "output": "[Cause] margin expansion [Relation] enable [Effect] even faster earnings growth",
    "gold": "[Cause] margin expansion [Relation] enable [Effect] even faster earnings growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe margin expansion will drive even faster earnings growth as manufacturing yields improve and customers continue to switch to higher-priced daily disposable lenses.",
    "output": "[Cause] margin expansion [Relation] enable [Effect] even faster earnings growth",
    "gold": "[Cause] manufacturing yields improve and customers continue to switch to higher-priced daily disposable lenses [Relation] enable [Effect] margin expansion will drive even faster earnings growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Second, we believe it would take an extended period to completely switch out a fleet, which would introduce added maintenance costs and complexity during the replacement process.",
    "output": "[Cause] it would take an extended period to completely switch out a fleet [Relation] cause [Effect] introduce added maintenance costs and complexity during the replacement process",
    "gold": "[Cause] added maintenance costs and complexity during the replacement process [Relation] cause [Effect] it would take an extended period to completely switch out a fleet",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While approximately 25% of Splunk's revenue currently comes from cloud services, we expect this number to grow in later years as Splunk completes its pivot into becoming a cloud-first company; we expect cloud services to constitute 90% of total revenue by the end of our explicit forecast period.",
    "output": "[Cause] Splunk completes its pivot into becoming a cloud-first company [Relation] cause [Effect] this number to grow in later years",
    "gold": "[Cause] Splunk completes its pivot into becoming a cloud-first company [Relation] cause [Effect] this number to grow in later years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While approximately 25% of Splunk's revenue currently comes from cloud services, we expect this number to grow in later years as Splunk completes its pivot into becoming a cloud-first company; we expect cloud services to constitute 90% of total revenue by the end of our explicit forecast period.",
    "output": "[Cause] Splunk completes its pivot into becoming a cloud-first company [Relation] cause [Effect] we expect this number to grow in later years",
    "gold": "[Cause] Splunk completes its pivot into becoming a cloud-first company [Relation] cause [Effect] services to constitute 90% of total revenue by the end of our explicit forecast period",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "US Foods does not appear to have a distribution cost advantage over its other large competitors, as it spends more on distribution than both.",
    "output": "[Cause] it spends more on distribution than both [Relation] cause [Effect] US Foods does not appear to have a distribution cost advantage over its other large competitors",
    "gold": "[Cause] it spends more on distribution than both [Relation] cause [Effect] US Foods does not appear to have a distribution cost advantage over its other large competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, Jacobs has lowered the risk profile of its portfolio as, following the ECR sale, fixed-price construction contracts now account for only 7% of revenue, which we think will lower the risk of significant cost overruns.",
    "output": "[Cause] fixed-price construction contracts now account for only 7% of revenue [Relation] cause [Effect] Jacobs has lowered the risk profile of its portfolio",
    "gold": "[Cause] fixed-price construction contracts now account for only 7% of revenue [Relation] prevent [Effect] the risk of significant cost overruns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, Jacobs has lowered the risk profile of its portfolio as, following the ECR sale, fixed-price construction contracts now account for only 7% of revenue, which we think will lower the risk of significant cost overruns.",
    "output": "[Cause] fixed-price construction contracts now account for only 7% of revenue [Relation] cause [Effect] lower the risk of significant cost overruns",
    "gold": "[Cause] fixed-price construction contracts now account for only 7% of revenue [Relation] cause [Effect] Jacobs has lowered the risk profile of its portfolio",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Years of government efforts have done little to stem illegal cannabis, but a change to the ease of accessing black-market supply could have a significant impact on the pricing power, thus the profitability of legal cannabis companies.",
    "output": "[Cause] a change to the ease of accessing black-market supply [Relation] cause [Effect] have a significant impact on the pricing power, thus the profitability of legal cannabis companies",
    "gold": "[Cause]  a change to the ease of accessing black-market supply [Relation] cause [Effect] have a significant impact on the pricing power, thus the profitability of legal cannabis companies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Jakafi's stronghold of the MF market is likely to continue, especially after leading competitor drugs have left the playing field after lackluster pivotal trial data.",
    "output": "[Cause] lackluster pivotal trial data [Relation] cause [Effect] leading competitor drugs have left the playing field",
    "gold": "[Cause] leading competitor drugs have left the playing field after lackluster pivotal trial data [Relation] enable [Effect] Jakafi's stronghold of the MF market is likely to continue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Alternatively, if operators continue to evade the government's efforts to reduce subsidies (or chose another means of spending in an attempt to buy market share), then our forecasts could prove too optimistic.",
    "output": "[Cause] operators continue to evade the government's efforts to reduce subsidies [Relation] cause [Effect] our forecasts could prove too optimistic",
    "gold": "[Cause] operators continue to evade the government's efforts to reduce subsidies [Relation] cause [Effect] our forecasts could prove too optimistic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Artists are increasingly spending more time on tour even without an album to support, providing promoters with greater supply of concerts.",
    "output": "[Cause] Artists are increasingly spending more time on tour even without an album to support [Relation] enable [Effect] promoters with greater supply of concerts",
    "gold": "[Cause] Artists are increasingly spending more time on tour even without an album to support [Relation] enable [Effect] promoters with greater supply of concerts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the main competition being the more arduous and less accurate phone food ordering via paper menus, which are less likely to be updated, Grubhub became one of the leaders of what was considered at that time an emerging market.",
    "output": "[Cause] the main competition being the more arduous and less accurate phone food ordering via paper menus [Relation] cause [Effect] Grubhub became one of the leaders of what was considered at that time an emerging market",
    "gold": "[Cause] the main competition being the more arduous and less accurate phone food ordering via paper menus [Relation] cause [Effect] Grubhub became one of the leaders of what was considered at that time an emerging market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assign Cisco a medium uncertainty rating due to unknowns surrounding future customer retention rates as software-defined networking and cloud solutions become more commonplace with enterprises and campuses.",
    "output": "[Cause] unknowns surrounding future customer retention rates as software-defined networking and cloud solutions become more commonplace with enterprises and campuses [Relation] cause [Effect] We assign Cisco a medium uncertainty rating",
    "gold": "[Cause] unknowns surrounding future customer retention rates as software-defined networking and cloud solutions become more commonplace with enterprises and campuses [Relation] cause [Effect] We assign Cisco a medium uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With such a high proportion of the potential market already being served by the largest players who earn only modest excess returns on capital, we don't see opportunities for regional players to expand or new entrants to profitably build networks.",
    "output": "[Cause] such a high proportion of the potential market already being served by the largest players who earn only modest excess returns on capital [Relation] cause [Effect] we don't see opportunities for regional players to expand or new entrants to profitably build networks",
    "gold": "[Cause] [Relation] cause [Effect] high proportion of the potential market already being served | don't see opportunities for regional players to expand or new entrants to profitably build networks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We still expect 2021 to be a strong recovery year, including low-double-digit comp growth and consolidated restaurant margins returning to the midteens despite planned technology and supply chain investments. This would put Yum China on track to meet our five-year targets of 8%-9% average annual systemwide sales growth, 8% currency-neutral average annual revenue growth, and restaurant margins of almost 18% by 2024.",
    "output": "[Cause] 2021 to be a strong recovery year, including low-double-digit comp growth and consolidated restaurant margins returning to the midteens despite planned technology and supply chain investments [Relation] cause [Effect] put Yum China on track to meet our five-year targets of 8%-9% average annual systemwide sales growth, 8% currency-neutral average annual revenue growth, and restaurant margins of almost 18% by 2024",
    "gold": "[Cause] 2021 to be a strong recovery year, including low-double-digit comp growth and consolidated restaurant margins returning to the midteens despite planned technology and supply chain investments [Relation] cause [Effect] put Yum China on track to meet our five-year targets of 8%-9% average annual systemwide sales growth, 8% currency-neutral average annual revenue growth, and restaurant margins of almost 18% by 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Brazil to be the growth engine, on the back of demand for higher data volumes and the market's transition toward the postpaid segment.",
    "output": "[Cause] demand for higher data volumes and the market's transition toward the postpaid segment [Relation] enable [Effect] Brazil to be the growth engine",
    "gold": "[Cause]  demand for higher data volumes and the market's transition toward the postpaid segment [Relation] enable [Effect] Brazil to be the growth engine",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Most of that margin expansion should come through continued selling, general, and administrative cost controls and gross margin expansion through mix benefits and manufacturing efficiencies.",
    "output": "[Cause] mix benefits and manufacturing efficiencies [Relation] enable [Effect] Most of that margin expansion should come through continued selling, general, and administrative cost controls and gross margin expansion",
    "gold": "[Cause] mix benefits and manufacturing efficiencies [Relation] cause [Effect] Most of that margin expansion should come through continued selling, general, and administrative cost controls and gross margin expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Humana's local market share rises, its negotiating leverage with healthcare suppliers also rises, which can create a virtuous cycle where Humana attracts even more clients and more providers to its insurance network.",
    "output": "[Cause] Humana's local market share rises [Relation] cause [Effect] its negotiating leverage with healthcare suppliers also rises",
    "gold": "[Cause]  Humana's local market share rises | negotiating leverage with healthcare suppliers also rises [Relation] cause [Effect]  Humana attracts even more clients and more providers to its insurance network",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For now, as demand persists, innovation should drive sales, particularly in the marine segment where BRP has launched project ghost (altering placement of outboard engines) and project M (reaching entry-level pontoon consumers), offerings we think will be differentiated from existing products.",
    "output": "[Cause] demand persists [Relation] cause [Effect] innovation should drive sales",
    "gold": "[Cause] demand persists [Relation] cause [Effect]  innovation should drive sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For now, as demand persists, innovation should drive sales, particularly in the marine segment where BRP has launched project ghost (altering placement of outboard engines) and project M (reaching entry-level pontoon consumers), offerings we think will be differentiated from existing products.",
    "output": "[Cause] BRP has launched project ghost (altering placement of outboard engines) and project M (reaching entry-level pontoon consumers) [Relation] cause [Effect] innovation should drive sales",
    "gold": "[Cause] BRP has launched project ghost (altering placement of outboard engines) and project M (reaching entry-level pontoon consumers) [Relation] cause [Effect] we think will be differentiated from existing products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As both supply and demand are remarkably steady over time, Magellan has been able to extract modest inflation-linked price increases.",
    "output": "[Cause] supply and demand are remarkably steady over time [Relation] enable [Effect] Magellan has been able to extract modest inflation-linked price increases",
    "gold": "[Cause] supply and demand are remarkably steady over time [Relation] enable [Effect] Magellan has been able to extract modest inflation-linked price increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We reckon this product has strong switching costs since it would be costly to physically remove the system and replace it with an alternative product, given the build-out required on both sides of the wall.",
    "output": "[Cause] it would be costly to physically remove the system and replace it with an alternative product, given the build-out required on both sides of the wall [Relation] cause [Effect] this product has strong switching costs",
    "gold": "[Cause] it would be costly to physically remove the system and replace it with an alternative product, given the build-out required on both sides of the wall [Relation] cause [Effect] this product has strong switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The core of the segment is ICE's fixed-income pricing services, which benefits from powerful tailwinds as increasing usage of fixed-income exchange-traded funds and regulatory needs drive the use of its products.",
    "output": "[Cause] increasing usage of fixed-income exchange-traded funds and regulatory needs drive the use of its products [Relation] cause [Effect] The core of the segment is ICE's fixed-income pricing services, which benefits from powerful tailwinds",
    "gold": "[Cause]  powerful tailwinds [Relation] cause [Effect]  ICE's fixed-income pricing services",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the industry has performed well despite the coronavirus crisis, its greater enthusiasm toward remote work as compared with other industries may reduce demand for office space.",
    "output": "[Cause] its greater enthusiasm toward remote work as compared with other industries [Relation] cause [Effect] reduce demand for office space",
    "gold": "[Cause] its greater enthusiasm toward remote work as compared with other industries [Relation] cause [Effect] reduce demand for office space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we see few opportunities for optimizing synergistic innovation across Stryker's divergent business segments, the extensive breadth of products should, nonetheless, serve Stryker well as hospital customers seek to consolidate suppliers in order to take advantage of volume discounts.",
    "output": "[Cause] the extensive breadth of products [Relation] enable [Effect] serve Stryker well as hospital customers seek to consolidate suppliers in order to take advantage of volume discounts",
    "gold": "[Cause] take advantage of volume discounts [Relation] enable [Effect]  hospital customers seek to consolidate suppliers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, ABB's electrification products division offers some overlap with other customer segments, such as process industries, that could prove useful in cross-selling the automation portfolio.",
    "output": "[Cause] ABB's electrification products division offers some overlap with other customer segments [Relation] enable [Effect] prove useful in cross-selling the automation portfolio",
    "gold": "[Cause]  ABB's electrification products division offers some overlap with other customer segments [Relation] enable [Effect] prove useful in cross-selling the automation portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Department stores' share of the market has dropped by about half since 2000 due to store closures, weak traffic, and discounting.",
    "output": "[Cause] store closures, weak traffic, and discounting [Relation] cause [Effect] Department stores' share of the market has dropped by about half since 2000",
    "gold": "[Cause] store closures, weak traffic, and discounting [Relation] cause [Effect] Department stores' share of the market has dropped by about half since 2000",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, increased discounts were required to migrate offline students to online, which resulted in net losses due to lower margin of 52.7% and operating margin losses of negative 4.8% on higher expenses.",
    "output": "[Cause] increased discounts were required to migrate offline students to online [Relation] cause [Effect] net losses due to lower margin of 52.7% and operating margin losses of negative 4.8% on higher expenses",
    "gold": "[Cause] increased discounts [Relation] enable [Effect] migrate offline students to online",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, increased discounts were required to migrate offline students to online, which resulted in net losses due to lower margin of 52.7% and operating margin losses of negative 4.8% on higher expenses.",
    "output": "[Cause] increased discounts were required to migrate offline students to online [Relation] cause [Effect] net losses due to lower margin of 52.7% and operating margin losses of negative 4.8% on higher expenses",
    "gold": "[Cause] higher expenses [Relation] cause [Effect] operating margin losses of negative 4.8%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company is investing today in alternative power solutions, such as fuel cells and battery technologies to power commercial vehicles in the future.",
    "output": "[Cause] The company is investing today in alternative power solutions [Relation] enable [Effect] fuel cells and battery technologies to power commercial vehicles in the future",
    "gold": "[Cause] The company is investing today in alternative power solutions [Relation] enable [Effect] fuel cells and battery technologies to power commercial vehicles in the future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Alcon's Systane is the most expensive solution on the market, and consumers are likely to be more value-conscious in a recessionary environment.",
    "output": "[Cause] Alcon's Systane is the most expensive solution on the market [Relation] cause [Effect] consumers are likely to be more value-conscious in a recessionary environment",
    "gold": "[Cause] Alcon's Systane is the most expensive solution on the market [Relation] cause [Effect]  consumers are likely to be more value-conscious in a recessionary environment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Volatility in crude oil and natural gas prices can cause customers to defer or terminate projects, causing a high level of uncertainty in the segment.",
    "output": "[Cause] Volatility in crude oil and natural gas prices [Relation] cause [Effect] customers to defer or terminate projects",
    "gold": "[Cause] Volatility in crude oil and natural gas prices [Relation] cause [Effect] customers to defer or terminate projects",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Volatility in crude oil and natural gas prices can cause customers to defer or terminate projects, causing a high level of uncertainty in the segment.",
    "output": "[Cause] customers to defer or terminate projects [Relation] cause [Effect] a high level of uncertainty in the segment",
    "gold": "[Cause] customers to defer or terminate projects [Relation] cause [Effect] a high level of uncertainty in the segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With food companies often using the same testing provider for all tests, Neogen's differentiated Listeria test is likely to help lock-in future business, and with testing business often quite sticky, this new test will help Neogen sustain longer-term market strength.",
    "output": "[Cause] food companies often using the same testing provider for all tests [Relation] cause [Effect] Neogen's differentiated Listeria test is likely to help lock-in future business",
    "gold": "[Cause] food companies often using the same testing provider for all tests [Relation] cause [Effect] Neogen's differentiated Listeria test is likely to help lock-in future business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Meanwhile, Old Navy already has more than 1,200 North America stores, so much of its future growth is expected to come from stores in smaller, unproven markets.",
    "output": "[Cause] Old Navy already has more than 1,200 North America stores [Relation] cause [Effect] much of its future growth is expected to come from stores in smaller, unproven markets",
    "gold": "[Cause] Old Navy already has more than 1,200 North America stores [Relation] cause [Effect] much of its future growth is expected to come from stores in smaller, unproven markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As KDDI and Kyocera are both founded by Kazuo Inamori, and as Kyocera acknowledges the benefit of maintaining a relationship with KDDI on handsets and telecommunication module businesses, we do not expect Kyocera to sell all of its stake, which is the reason for applying a discount.",
    "output": "[Cause] KDDI and Kyocera are both founded by Kazuo Inamori [Relation] cause [Effect] applying a discount",
    "gold": "[Cause] KDDI and Kyocera are both founded by Kazuo Inamori [Relation] prevent [Effect] Kyocera to sell all of its stake",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As KDDI and Kyocera are both founded by Kazuo Inamori, and as Kyocera acknowledges the benefit of maintaining a relationship with KDDI on handsets and telecommunication module businesses, we do not expect Kyocera to sell all of its stake, which is the reason for applying a discount.",
    "output": "[Cause] Kyocera acknowledges the benefit of maintaining a relationship with KDDI on handsets and telecommunication module businesses [Relation] cause [Effect] applying a discount",
    "gold": "[Cause] Kyocera acknowledges the benefit of maintaining a relationship with KDDI on handsets and telecommunication module businesses [Relation] prevent [Effect] Kyocera to sell all of its stake",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As KDDI and Kyocera are both founded by Kazuo Inamori, and as Kyocera acknowledges the benefit of maintaining a relationship with KDDI on handsets and telecommunication module businesses, we do not expect Kyocera to sell all of its stake, which is the reason for applying a discount.",
    "output": "[Cause] Kyocera acknowledges the benefit of maintaining a relationship with KDDI on handsets and telecommunication module businesses [Relation] cause [Effect] applying a discount",
    "gold": "[Cause] KDDI and Kyocera are both founded by Kazuo Inamori [Relation] cause [Effect] applying a discount",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As KDDI and Kyocera are both founded by Kazuo Inamori, and as Kyocera acknowledges the benefit of maintaining a relationship with KDDI on handsets and telecommunication module businesses, we do not expect Kyocera to sell all of its stake, which is the reason for applying a discount.",
    "output": "[Cause] Kyocera acknowledges the benefit of maintaining a relationship with KDDI on handsets and telecommunication module businesses [Relation] cause [Effect] applying a discount",
    "gold": "[Cause] Kyocera acknowledges the benefit of maintaining a relationship with KDDI on handsets and telecommunication module businesses [Relation] cause [Effect] applying a discount",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Distributors are more likely to engage in discounting to maintain cash flows when demand sours, which we believe can be damaging for brands with long-shelf-life products.",
    "output": "[Cause] Distributors are more likely to engage in discounting [Relation] enable [Effect] maintain cash flows when demand sours",
    "gold": "[Cause] Distributors are more likely to engage in discounting to maintain cash flows when demand sours [Relation] cause [Effect] damaging for brands with long-shelf-life products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Distributors are more likely to engage in discounting to maintain cash flows when demand sours, which we believe can be damaging for brands with long-shelf-life products.",
    "output": "[Cause] Distributors are more likely to engage in discounting [Relation] cause [Effect] damage for brands with long-shelf-life products",
    "gold": "[Cause] demand sours [Relation] cause [Effect] Distributors are more likely to engage in discounting",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Overall, Kimco's portfolio should see steady but low growth over the next decade as the retail landscape adjusts to the emergence of e-commerce.",
    "output": "[Cause] the retail landscape adjusts to the emergence of e-commerce [Relation] cause [Effect] Kimco's portfolio should see steady but low growth over the next decade",
    "gold": "[Cause] the retail landscape adjusts to the emergence of e-commerce [Relation] cause [Effect] Kimco's portfolio should see steady but low growth over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Selling, general, and administrative expenses as a percent of sales temporarily fell in 2020 as selling expenses were cut as a result of the pandemic, to 14.4% from 15.5% the prior year.",
    "output": "[Cause] selling expenses were cut as a result of the pandemic [Relation] cause [Effect] Selling, general, and administrative expenses as a percent of sales temporarily fell in 2020",
    "gold": "[Cause] selling expenses were cut as a result of the pandemic [Relation] cause [Effect] Selling, general, and administrative expenses as a percent of sales temporarily fell in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast price increases of about 2% per year, with constrained supply allowing for higher price increases in the near term.",
    "output": "[Cause] constrained supply [Relation] enable [Effect] higher price increases in the near term",
    "gold": "[Cause] constrained supply allowing for higher price increases in the near term [Relation] cause [Effect] forecast price increases of about 2% per year",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These factors will result in increased construction equipment revenue for Deere, leading us to forecast roughly 7% average sales growth over the next five years.",
    "output": "[Cause] increased construction equipment revenue for Deere [Relation] cause [Effect] roughly 7% average sales growth over the next five years",
    "gold": "[Cause] increased construction equipment revenue for Deere [Relation] cause [Effect] roughly 7% average sales growth over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Citigroup's presence in emerging markets is another significant source of risk, and one that is unique to Citigroup among its peers as the bank has the most international exposure.",
    "output": "[Cause] the bank has the most international exposure [Relation] cause [Effect] Citigroup's presence in emerging markets is another significant source of risk, and one that is unique to Citigroup among its peers",
    "gold": "[Cause] the bank has the most international exposure [Relation] enable [Effect] Citigroup's presence in emerging markets is another significant source of risk, and one that is unique to Citigroup among its peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The three states above made up 64% of total revenue in 2020, with Florida the largest at 24%, and another COVID shutdown in these states would cause a very poor quarter in our opinion.",
    "output": "[Cause] another COVID shutdown in these states [Relation] cause [Effect] a very poor quarter in our opinion",
    "gold": "[Cause] another COVID shutdown in these states [Relation] cause [Effect] a very poor quarter in our opinion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While it is still a small proportion of overall business, as more and more customers become familiarized with the product, this segment should scale and provide Synopsys a differentiating factor from its competitors.",
    "output": "[Cause] more and more customers become familiarized with the product [Relation] cause [Effect] this segment should scale",
    "gold": "[Cause] more and more customers become familiarized with the product [Relation] enable [Effect] this segment should scale",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Challenges to economic profitFirst, given that the cannabis industry remains in the growth stage, we think that years of significant investment will be necessary to support the robust growth in the industry.",
    "output": "[Cause] years of significant investment [Relation] enable [Effect] support the robust growth in the industry",
    "gold": "[Cause] the cannabis industry remains in the growth stage [Relation] cause [Effect] years of significant investment will be necessary to support the robust growth in the industry",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe Alexion warrants a high uncertainty rating because of the mounting pressure from competitors and biosimilars and its reliance on Soliris and Ultomiris.",
    "output": "[Cause] the mounting pressure from competitors and biosimilars and its reliance on Soliris and Ultomiris [Relation] cause [Effect] Alexion warrants a high uncertainty rating",
    "gold": "[Cause] the mounting pressure from competitors and biosimilars and its reliance on Soliris and Ultomiris [Relation] cause [Effect] Alexion warrants a high uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the channel's market share has been stable recently, the pandemic may cause a shift toward this channel, which represents viable competition to distributors.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] a shift toward this channel",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] a shift toward this channel",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the channel's market share has been stable recently, the pandemic may cause a shift toward this channel, which represents viable competition to distributors.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] a shift toward this channel",
    "gold": "[Cause] a shift toward this channel [Relation] cause [Effect] viable competition to distributors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Acquisitions help bolster Dentsply Sirona's product portfolio, which could eventually erode returns on capital if deals become expensive as the industry consolidates.",
    "output": "[Cause] Acquisitions help bolster Dentsply Sirona's product portfolio [Relation] cause [Effect] eventually erode returns on capital if deals become expensive as the industry consolidates",
    "gold": "[Cause] deals become expensive as the industry consolidates [Relation] cause [Effect] eventually erode returns on capital",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As Tulip's primary revenue source is private-label products, we hold that this business does not maintain brand intangible assets either.",
    "output": "[Cause] Tulip's primary revenue source is private-label products [Relation] cause [Effect] we hold that this business does not maintain brand intangible assets either",
    "gold": "[Cause]  Tulip's primary revenue source is private-label products [Relation] cause [Effect] we hold that this business does not maintain brand intangible assets either",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Along these lines, while switching costs are minimal with the free version, we think Zoom becomes stickier in an organization once the paid version is implemented, as Zoom has more touch points and becomes more ingrained in the organization's workflows.",
    "output": "[Cause] the paid version is implemented [Relation] cause [Effect] Zoom becomes stickier in an organization",
    "gold": "[Cause] the paid version is implemented [Relation] enable [Effect] Zoom becomes stickier in an organization",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Along these lines, while switching costs are minimal with the free version, we think Zoom becomes stickier in an organization once the paid version is implemented, as Zoom has more touch points and becomes more ingrained in the organization's workflows.",
    "output": "[Cause] Zoom has more touch points and becomes more ingrained in the organization's workflows [Relation] cause [Effect] Zoom becomes stickier in an organization",
    "gold": "[Cause] Zoom has more touch points and becomes more ingrained in the organization's workflows [Relation] cause [Effect] Zoom becomes stickier in an organization",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Antero, with about 35%-40% of the entire basin's undeveloped liquids-rich acreage, is better-positioned to capture this upside than most of its peers.",
    "output": "[Cause] Antero, with about 35%-40% of the entire basin's undeveloped liquids-rich acreage [Relation] enable [Effect] better-positioned to capture this upside than most of its peers",
    "gold": "[Cause] Antero, with about 35%-40% of the entire basin's undeveloped liquids-rich acreage [Relation] enable [Effect]  better-positioned to capture this upside than most of its peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Vodafone operates in a variety of markets, many of which face different regulatory issues, and it earns revenue in various currencies, which increases the volatility of its results.",
    "output": "[Cause] it earns revenue in various currencies [Relation] cause [Effect] increases the volatility of its results",
    "gold": "[Cause] many of which face different regulatory issues [Relation] cause [Effect] increases the volatility of its results",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition to intangible assets, the company has built a two-sided network effect in which each candidate or employer that is added to the network adds value to both new and existing users by increasing the probability of job placements.",
    "output": "[Cause] increasing the probability of job placements [Relation] enable [Effect] each candidate or employer that is added to the network adds value to both new and existing users",
    "gold": "[Cause] a two-sided network effect [Relation] enable [Effect] added to the network adds value to both new and existing users by increasing the probability of job placements",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think that TurboTax exhibits high switching costs due to the stress of learning a new tax filing interface during an often short amount of time for many tax filers.",
    "output": "[Cause] the stress of learning a new tax filing interface during an often short amount of time for many tax filers [Relation] cause [Effect] TurboTax exhibits high switching costs",
    "gold": "[Cause] the stress of learning a new tax filing interface during an often short amount of time for many tax filers [Relation] cause [Effect] TurboTax exhibits high switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the cost of meeting 2010 EPA emissions requirements led Caterpillar to exit the on-highway business, leaving the aftermarket support of these engines in doubt.",
    "output": "[Cause] the cost of meeting 2010 EPA emissions requirements [Relation] cause [Effect] Caterpillar to exit the on-highway business",
    "gold": "[Cause] the cost of meeting 2010 EPA emissions requirements [Relation] cause [Effect] Caterpillar to exit the on-highway business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the cost of meeting 2010 EPA emissions requirements led Caterpillar to exit the on-highway business, leaving the aftermarket support of these engines in doubt.",
    "output": "[Cause] Caterpillar to exit the on-highway business [Relation] cause [Effect] the aftermarket support of these engines in doubt",
    "gold": "[Cause] Caterpillar to exit the on-highway business [Relation] cause [Effect] the aftermarket support of these engines in doubt",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "AIG took a step back in terms of profitability in 2020 due to the impact of the coronavirus on claims and capital market conditions.",
    "output": "[Cause] the impact of the coronavirus on claims and capital market conditions [Relation] cause [Effect] AIG took a step back in terms of profitability in 2020",
    "gold": "[Cause]  the impact of the coronavirus on claims and capital market conditions [Relation] cause [Effect] AIG took a step back in terms of profitability in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Competition remains robust across Keurig Dr Pepper's core categories, and growth prospects outside of North American markets are encumbered by the firm's lack of ownership rights to key trademarks internationally.",
    "output": "[Cause] the firm's lack of ownership rights to key trademarks internationally [Relation] prevent [Effect] growth prospects outside of North American markets",
    "gold": "[Cause] the firm's lack of ownership rights to key trademarks internationally [Relation] prevent [Effect] growth prospects outside of North American markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2018 and 2019 the company significantly invested in the platform to make it more suitable for customers with up to 2,000 employees.",
    "output": "[Cause] In 2018 and 2019 the company significantly invested in the platform [Relation] enable [Effect] make it more suitable for customers with up to 2,000 employees",
    "gold": "[Cause] In 2018 and 2019 the company significantly invested in the platform [Relation] cause [Effect]  make it more suitable for customers with up to 2,000 employees",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect comparable sales gains in the mid-single digits for the Dollar Tree banner and high-single-digits for Family Dollar in the fourth quarter, as rising infection rates led customers to stock up with a focus on essentials and value.",
    "output": "[Cause] rising infection rates [Relation] cause [Effect] customers to stock up with a focus on essentials and value",
    "gold": "[Cause] rising infection rates [Relation] cause [Effect] customers to stock up with a focus on essentials and value",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect comparable sales gains in the mid-single digits for the Dollar Tree banner and high-single-digits for Family Dollar in the fourth quarter, as rising infection rates led customers to stock up with a focus on essentials and value.",
    "output": "[Cause] customers to stock up with a focus on essentials and value [Relation] cause [Effect] comparable sales gains in the mid-single digits for the Dollar Tree banner and high-single-digits for Family Dollar in the fourth quarter",
    "gold": "[Cause] customers to stock up with a focus on essentials and value [Relation] cause [Effect] comparable sales gains in the mid-single digits for the Dollar Tree banner and high-single-digits for Family Dollar in the fourth quarter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, if the public option creates a scenario where a significant portion of the employer-based insurance population switches to government-sponsored plans, CVS' commercial business may suffer.",
    "output": "[Cause] the public option creates a scenario where a significant portion of the employer-based insurance population switches to government-sponsored plans [Relation] cause [Effect] CVS' commercial business may suffer",
    "gold": "[Cause] the public option creates a scenario where a significant portion of the employer-based insurance population switches to government-sponsored plans [Relation] cause [Effect] CVS' commercial business may suffer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our projected EBITDA margin expansion—100 basis points from 2020 to 2025—is driven mostly by the wireline segment, as the upgrade to FTTH from copper should require less maintenance and fewer service calls.",
    "output": "[Cause] the upgrade to FTTH from copper should require less maintenance and fewer service calls [Relation] cause [Effect] Our projected EBITDA margin expansion—100 basis points from 2020 to 2025—is driven mostly by the wireline segment",
    "gold": "[Cause] the wireline segment [Relation] cause [Effect] Our projected EBITDA margin expansion—100 basis points from 2020 to 2025",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Capital expenditures should taper as renovation efforts conclude but remain at 3.5% of sales on average over the next decade, higher than Target's 2.2% in the three years before its turnaround plan began (fiscal 2014-16).",
    "output": "[Cause] renovation efforts conclude [Relation] cause [Effect] Capital expenditures should taper but remain at 3.5% of sales on average over the next decade, higher than Target's 2.2% in the three years before its turnaround plan began (fiscal 2014-16)",
    "gold": "[Cause] Capital expenditures should taper [Relation] enable [Effect] remain at 3.5% of sales on average over the next decade, higher than Target's 2.2% in the three years before its turnaround plan began",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Legacy Marriott has added several new brands since 2007, renovated a meaningful percentage of core Marriott and Courtyard hotels in the past few years, and expanded technology integration and loyalty-member presence; these actions have led to share gains and a strong positioning with millennial travelers.",
    "output": "[Cause] Legacy Marriott has added several new brands since 2007, renovated a meaningful percentage of core Marriott and Courtyard hotels in the past few years, and expanded technology integration and loyalty-member presence [Relation] cause [Effect] share gains and a strong positioning with millennial travelers",
    "gold": "[Cause] Legacy Marriott has added several new brands since 2007, renovated a meaningful percentage of core Marriott and Courtyard hotels in the past few years, and expanded technology integration and loyalty-member presence [Relation] cause [Effect] share gains and a strong positioning with millennial travelers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite this, we still believe favorable emerging-market demographic and disposable income tailwinds, combined with Colgate's extensive tenure operating in these markets and solid brand prowess, should enable it to realize mid-single-digit annual growth in these emerging regions longer term.",
    "output": "[Cause] favorable emerging-market demographic and disposable income tailwinds, combined with Colgate's extensive tenure operating in these markets and solid brand prowess [Relation] enable [Effect] realize mid-single-digit annual growth in these emerging regions longer term",
    "gold": "[Cause] favorable emerging-market demographic and disposable income tailwinds, combined with Colgate's extensive tenure operating in these markets and solid brand prowess [Relation] cause [Effect] realize mid-single-digit annual growth in these emerging regions longer term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that each of these segments requires substantial technical know-how to develop a viable product, and that many of these products do not have much commercial viability outside the defense industry, we see technical complexity as a viable barrier to entry, constituting an intangible asset.",
    "output": "[Cause] each of these segments requires substantial technical know-how to develop a viable product, and that many of these products do not have much commercial viability outside the defense industry [Relation] cause [Effect] we see technical complexity as a viable barrier to entry, constituting an intangible asset",
    "gold": "[Cause] each of these segments requires substantial technical know-how to develop a viable product, and that many of these products do not have much commercial viability outside the defense industry [Relation] cause [Effect] we see technical complexity as a viable barrier to entry, constituting an intangible asset",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Critical and proprietary data sets, analytics tools embedded in client systems, and recurring revenue streams that account for nearly 90% of its top line underpin a sustainable competitive advantage for IHS Markit, one we believe will intensify as new products mature.",
    "output": "[Cause] Critical and proprietary data sets, analytics tools embedded in client systems, and recurring revenue streams that account for nearly 90% of its top line [Relation] enable [Effect] a sustainable competitive advantage for IHS Markit",
    "gold": "[Cause] Critical and proprietary data sets, analytics tools embedded in client systems, and recurring revenue streams that account for nearly 90% of its top line [Relation] cause [Effect] a sustainable competitive advantage for IHS Markit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The long life of the products that Heico provides spare parts for gives Heico great revenue visibility as it can capitalize development of spare parts over many decades.",
    "output": "[Cause] it can capitalize development of spare parts over many decades [Relation] cause [Effect] The long life of the products that Heico provides spare parts for gives Heico great revenue visibility",
    "gold": "[Cause] it can capitalize development of spare parts over many decades [Relation] cause [Effect] The long life of the products that Heico provides spare parts for gives Heico great revenue visibility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite a broad move toward healthy and clean eating, consumers seem to feel nostalgic about the Hostess brand, generating a public outcry at the firm's 2012 bankruptcy with many reports of consumers stocking their freezers with the sweet treats in fear of no longer having access to them.",
    "output": "[Cause] a broad move toward healthy and clean eating [Relation] cause [Effect] consumers seem to feel nostalgic about the Hostess brand",
    "gold": "[Cause] generating a public outcry at the firm's 2012 bankruptcy [Relation] enable [Effect] the Hostess brand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Despite a broad move toward healthy and clean eating, consumers seem to feel nostalgic about the Hostess brand, generating a public outcry at the firm's 2012 bankruptcy with many reports of consumers stocking their freezers with the sweet treats in fear of no longer having access to them.",
    "output": "[Cause] consumers stocking their freezers with the sweet treats [Relation] cause [Effect] fear of no longer having access to them",
    "gold": "[Cause] in fear of no longer having access to them [Relation] cause [Effect] consumers stocking their freezers with the sweet treats",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Growth from jewelry, the single-largest gold demand source, will slow as a combination of government initiatives and shifting preferences slow purchases among Chinese and Indian consumers despite rising incomes.",
    "output": "[Cause] government initiatives and shifting preferences slow purchases among Chinese and Indian consumers [Relation] cause [Effect] Growth from jewelry, the single-largest gold demand source, will slow",
    "gold": "[Cause] government initiatives and shifting preferences [Relation] cause [Effect] slow purchases among Chinese and Indian consumers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over our explicit forecast, we expect gross margins to improve by nearly 400 basis points as the company gains scale in its expansion of its 3DExperience customers and as low-gross margin servicing revenue decreases.",
    "output": "[Cause] the company gains scale in its expansion of its 3DExperience customers and as low-gross margin servicing revenue decreases [Relation] cause [Effect] gross margins to improve by nearly 400 basis points",
    "gold": "[Cause] the company gains scale in its expansion of its 3DExperience customers and as low-gross margin servicing revenue decreases [Relation] cause [Effect] gross margins to improve by nearly 400 basis points",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We've increased our fair value estimate to $43 from $35 as we have increased expectations for cash flows from Dish's existing television and wireless businesses.",
    "output": "[Cause] we have increased expectations for cash flows from Dish's existing television and wireless businesses [Relation] cause [Effect] We've increased our fair value estimate to $43 from $35",
    "gold": "[Cause] we have increased expectations for cash flows from Dish's existing television and wireless businesses [Relation] cause [Effect] We've increased our fair value estimate to $43 from $35",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect a flattening, rather than declining, budgetary environment as we think that heightened geopolitical tensions between great powers are likely to buoy spending despite a higher debt burden.",
    "output": "[Cause] heightened geopolitical tensions between great powers are likely to buoy spending despite a higher debt burden [Relation] cause [Effect] a flattening, rather than declining, budgetary environment",
    "gold": "[Cause] higher debt burden [Relation] enable [Effect] heightened geopolitical tensions between great powers are likely to buoy spending",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect the company to deleverage its marketing expense in 2021, as Booking spends in front of an expected demand recovery in the second half of 2021 and continues to invest in integrating experiences, alternative accommodations, flights, and emerging-market supply in Booking.com.",
    "output": "[Cause] Booking spends in front of an expected demand recovery in the second half of 2021 and continues to invest in integrating experiences, alternative accommodations, flights, and emerging-market supply in Booking.com [Relation] cause [Effect] the company to deleverage its marketing expense in 2021",
    "gold": "[Cause] Booking spends in front of an expected demand recovery in the second half of 2021 and continues to invest in integrating experiences, alternative accommodations, flights, and emerging-market supply in Booking.com [Relation] enable [Effect] the company to deleverage its marketing expense in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We've seen much of the immediate risk dissipate through a combination of greater regulatory scrutiny and industrywide decisions to respond to consumer concerns.",
    "output": "[Cause] a combination of greater regulatory scrutiny and industrywide decisions to respond to consumer concerns [Relation] enable [Effect] much of the immediate risk dissipate",
    "gold": "[Cause] a combination of greater regulatory scrutiny and industrywide decisions to respond to consumer concerns [Relation] cause [Effect] much of the immediate risk dissipate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "High growth of the luxury online sector can attract new competitors, often backed by powerful players such as Chinese e-commerce giants (Luxury Pavilion backed by Alibaba) or European luxury conglomerates (Richemont's purchase of YNAP, LVMH's launch of 24 Sevres), which could grab market share at the expense of Farfetch.",
    "output": "[Cause] High growth of the luxury online sector [Relation] enable [Effect] attract new competitors",
    "gold": "[Cause] High growth of the luxury online sector [Relation] enable [Effect] attract new competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "High growth of the luxury online sector can attract new competitors, often backed by powerful players such as Chinese e-commerce giants (Luxury Pavilion backed by Alibaba) or European luxury conglomerates (Richemont's purchase of YNAP, LVMH's launch of 24 Sevres), which could grab market share at the expense of Farfetch.",
    "output": "[Cause] High growth of the luxury online sector [Relation] enable [Effect] grab market share at the expense of Farfetch",
    "gold": "[Cause] the expense of Farfetch [Relation] enable [Effect] grab market share",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Global expansion allows access to a wider profile of consumer preferences, leading to better local merchandising and marketing, which could facilitate higher unit sales as supply better matches demand.",
    "output": "[Cause] Global expansion allows access to a wider profile of consumer preferences [Relation] cause [Effect] better local merchandising and marketing, which could facilitate higher unit sales as supply better matches demand",
    "gold": "[Cause] Global expansion allows access to a wider profile of consumer preferences [Relation] cause [Effect] better local merchandising and marketing, which could facilitate higher unit sales as supply better matches demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although an end to the COVID-19 crisis appears to be in sight, we believe it has accelerated store and mall closures and that PVH will struggle to adapt.",
    "output": "[Cause] it has accelerated store and mall closures [Relation] cause [Effect] PVH will struggle to adapt",
    "gold": "[Cause] the COVID-19 crisis appears [Relation] cause [Effect] accelerated store and mall closures",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The global restaurant sector will continue to see uneven guest traffic trends heading into 2021 amid coronavirus operating restrictions and changes in consumer behavior.",
    "output": "[Cause] coronavirus operating restrictions and changes in consumer behavior [Relation] cause [Effect] The global restaurant sector will continue to see uneven guest traffic trends heading into 2021",
    "gold": "[Cause] coronavirus operating restrictions and changes in consumer behavior [Relation] cause [Effect] The global restaurant sector will continue to see uneven guest traffic trends heading into 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Revenue fell 10% in 2020 on fewer carloads, falling fuel surcharges, and mix headwinds, but core pricing remained positive and top-line declines moderated materially in the second half.",
    "output": "[Cause] fewer carloads, falling fuel surcharges, and mix headwinds [Relation] cause [Effect] Revenue fell 10% in 2020",
    "gold": "[Cause] fewer carloads, falling fuel surcharges, and mix headwinds [Relation] cause [Effect] Revenue fell 10% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, as 5G becomes the standard wireless technology over the next decade and is defined by faster speeds and lower latency, or lag times, small cells are likely to become vital in cities.",
    "output": "[Cause] 5G becomes the standard wireless technology over the next decade and is defined by faster speeds and lower latency, or lag times [Relation] cause [Effect] small cells are likely to become vital in cities",
    "gold": "[Cause] 5G becomes the standard wireless technology over the next decade and is defined by faster speeds and lower latency, or lag times [Relation] enable [Effect] small cells are likely to become vital in cities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm is likely to realize solid revenue growth from these products as hybrid, electric, and autonomous vehicles become more common.",
    "output": "[Cause] hybrid, electric, and autonomous vehicles become more common [Relation] cause [Effect] The firm is likely to realize solid revenue growth from these products",
    "gold": "[Cause] hybrid, electric, and autonomous vehicles become more common [Relation] cause [Effect] The firm is likely to realize solid revenue growth from these products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With that ongoing mix shift to fully insured membership and underlying medical cost trends, we expect revenue per member to grow about 5% compounded annually during the next five years.",
    "output": "[Cause] ongoing mix shift to fully insured membership and underlying medical cost trends [Relation] cause [Effect] revenue per member to grow about 5% compounded annually during the next five years",
    "gold": "[Cause] ongoing mix shift to fully insured membership and underlying medical cost trends [Relation] cause [Effect] revenue per member to grow about 5% compounded annually during the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While these markets offer moats to larger competitors, we don't believe BlackBerry's solutions boast adequately competitive stickiness, and we view its negative historical returns on invested capital as evidence to our opinion. Thus, we do not have confidence it will earn returns in excess of its cost of capital over the next 10 years.",
    "output": "[Cause] While these markets offer moats to larger competitors, we don't believe BlackBerry's solutions boast adequately competitive stickiness, and we view its negative historical returns on invested capital as evidence to our opinion [Relation] cause [Effect] we do not have confidence it will earn returns in excess of its cost of capital over the next 10 years",
    "gold": "[Cause] While these markets offer moats to larger competitors, we don't believe BlackBerry's solutions boast adequately competitive stickiness, and we view its negative historical returns on invested capital as evidence to our opinion [Relation] cause [Effect] we do not have confidence it will earn returns in excess of its cost of capital over the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Technological advances have kept enterprise HDDs well ahead of the SSD cost curve and are continuing to meet demand for greater capacity and lower cost at customers, but we think differentiation between two competing drives with equal capacities is negligible.",
    "output": "[Cause] Technological advances [Relation] enable [Effect] enterprise HDDs well ahead of the SSD cost curve and are continuing to meet demand for greater capacity and lower cost at customers",
    "gold": "[Cause] Technological advances [Relation] enable [Effect] enterprise HDDs well ahead of the SSD cost curve and are continuing to meet demand for greater capacity and lower cost at customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm squares off against a variety of well-established players, such as Texas Instruments and Microchip Technology, and we expect pressure to capture new greenfield opportunities will require the firm to maintain its high level of investment, limiting sustained margin expansion.",
    "output": "[Cause] pressure to capture new greenfield opportunities [Relation] cause [Effect] require the firm to maintain its high level of investment, limiting sustained margin expansion",
    "gold": "[Cause] pressure to capture new greenfield opportunities [Relation] cause [Effect] require the firm to maintain its high level of investment, limiting sustained margin expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Paccar to continue its investments in technology to drive future aftermarket sales, in addition to increasing the number of connected vehicles in the field.",
    "output": "[Cause] Paccar to continue its investments in technology [Relation] enable [Effect] future aftermarket sales",
    "gold": "[Cause] We expect Paccar to continue its investments in technology to drive future aftermarket sales [Relation] enable [Effect]  increasing the number of connected vehicles in the field",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the company is expected to produce revenue growth above the high end of peers and the premium may be justified, higher absolute valuation levels offer less room for missteps and therefore carry greater inherent risks, in our opinion.",
    "output": "[Cause] higher absolute valuation levels offer less room for missteps [Relation] cause [Effect] carry greater inherent risks",
    "gold": "[Cause] higher absolute valuation levels offer less room for missteps [Relation] cause [Effect] carry greater inherent risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Acreage dedication agreements can be 10-20 years; however, we believe they are low-quality contracts because they depend on the availability of producers' capital and well economics.",
    "output": "[Cause] they depend on the availability of producers' capital and well economics [Relation] cause [Effect] Acreage dedication agreements can be 10-20 years; however, we believe they are low-quality contracts",
    "gold": "[Cause] they depend on the availability of producers' capital and well economics [Relation] cause [Effect] Acreage dedication agreements can be 10-20 years; however, we believe they are low-quality contracts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project results in the company's life operations to improve modestly over time, as higher interest rates eventually lead to a more favorable operating environment.",
    "output": "[Cause] higher interest rates eventually lead to a more favorable operating environment [Relation] cause [Effect] the company's life operations to improve modestly over time",
    "gold": "[Cause] higher interest rates [Relation] enable [Effect]  a more favorable operating environment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Currently robust airfreight activity may ease in 2022, but longer term we expect Expeditors to continue gradually taking market share from less capable third-party logistics providers (on average over the cycle) as demand for sophisticated supply chain technology and access to reliable capacity expands.",
    "output": "[Cause] demand for sophisticated supply chain technology and access to reliable capacity expands [Relation] cause [Effect] longer term we expect Expeditors to continue gradually taking market share from less capable third-party logistics providers (on average over the cycle)",
    "gold": "[Cause] demand for sophisticated supply chain technology and access to reliable capacity expands [Relation] cause [Effect] longer term we expect Expeditors to continue gradually taking market share from less capable third-party logistics providers (on average over the cycle)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We don't think the intangible assets and switching costs of these partnerships are significant compared with NetEase's in-house legacy IP, as licensed games accounted for only 9% of total revenue in 2020 and have lower margin.",
    "output": "[Cause] licensed games accounted for only 9% of total revenue in 2020 and have lower margin [Relation] cause [Effect] We don't think the intangible assets and switching costs of these partnerships are significant compared with NetEase's in-house legacy IP",
    "gold": "[Cause] licensed games accounted for only 9% of total revenue in 2020 and have lower margin [Relation] enable [Effect] We don't think the intangible assets and switching costs of these partnerships are significant compared with NetEase's in-house legacy IP",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, data protection legislations are becoming more commonplace, which could exacerbate the quantity of individuals paying for identity protection, as they rely on corporations for proper data protection.",
    "output": "[Cause] they rely on corporations for proper data protection [Relation] cause [Effect] data protection legislations are becoming more commonplace",
    "gold": "[Cause] they rely on corporations for proper data protection [Relation] cause [Effect] exacerbate the quantity of individuals paying for identity protection",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, data protection legislations are becoming more commonplace, which could exacerbate the quantity of individuals paying for identity protection, as they rely on corporations for proper data protection.",
    "output": "[Cause] data protection legislations are becoming more commonplace [Relation] cause [Effect] exacerbate the quantity of individuals paying for identity protection",
    "gold": "[Cause] data protection legislations are becoming more commonplace [Relation] enable [Effect] exacerbate the quantity of individuals paying for identity protection",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, Verisign's six-year contracts have a presumptive right of renewal, meaning that they instantly renew as long as the company provides largely uninterrupted service, which the company has in fact maintained for 23 years and counting.",
    "output": "[Cause] the company provides largely uninterrupted service [Relation] cause [Effect] they instantly renew",
    "gold": "[Cause]  the company provides largely uninterrupted service [Relation] cause [Effect] they instantly renew",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, Verisign's six-year contracts have a presumptive right of renewal, meaning that they instantly renew as long as the company provides largely uninterrupted service, which the company has in fact maintained for 23 years and counting.",
    "output": "[Cause] the company provides largely uninterrupted service [Relation] cause [Effect] they instantly renew",
    "gold": "[Cause]  Verisign's six-year contracts have a presumptive right of renewal [Relation] cause [Effect]  they instantly renew as long as the company provides largely uninterrupted service",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "New credit card programs with Verizon and Venmo should act as a tailwind for Synchrony's revenue growth as the bank seeks to recover from the lows of 2020.",
    "output": "[Cause] the bank seeks to recover from the lows of 2020 [Relation] cause [Effect] New credit card programs with Verizon and Venmo should act as a tailwind for Synchrony's revenue growth",
    "gold": "[Cause] the bank seeks to recover from the lows of 2020 [Relation] cause [Effect] New credit card programs with Verizon and Venmo should act as a tailwind for Synchrony's revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We removed Penn East earnings and investment from our forecast due to ongoing regulatory delays, which was a slight negative.",
    "output": "[Cause] ongoing regulatory delays [Relation] cause [Effect] We removed Penn East earnings and investment from our forecast",
    "gold": "[Cause] ongoing regulatory delays [Relation] cause [Effect] We removed Penn East earnings and investment from our forecast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As with most E&P firms, a deteriorating outlook for oil and natural gas prices would pressure Range's profitability, reduce cash flows, and drive up financial leverage.",
    "output": "[Cause] a deteriorating outlook for oil and natural gas prices [Relation] cause [Effect] pressure Range's profitability, reduce cash flows, and drive up financial leverage",
    "gold": "[Cause] a deteriorating outlook for oil and natural gas prices [Relation] cause [Effect] pressure Range's profitability, reduce cash flows, and drive up financial leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After self-reporting the trade-in's condition, the customer can then fill out a loan application online and see loan offers, buy online F&amp;I products such as an extended warranty, and will eventually be able to sign documents electronically at home to further reduce time in the store.",
    "output": "[Cause] self-reporting the trade-in's condition [Relation] cause [Effect] the customer can then fill out a loan application online and see loan offers, buy online F&amp;I products such as an extended warranty",
    "gold": "[Cause] be able to sign documents electronically at home [Relation] enable [Effect] further reduce time in the store",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After self-reporting the trade-in's condition, the customer can then fill out a loan application online and see loan offers, buy online F&amp;I products such as an extended warranty, and will eventually be able to sign documents electronically at home to further reduce time in the store.",
    "output": "[Cause] the customer can then fill out a loan application online and see loan offers, buy online F&amp;I products such as an extended warranty [Relation] cause [Effect] eventually be able to sign documents electronically at home to further reduce time in the store",
    "gold": "[Cause] self-reporting the trade-in's condition [Relation] enable [Effect]  the customer can then fill out a loan application online and see loan offers, buy online F&amp;I products such as an extended warranty",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "ITOM solutions represented 15% of subscription revenue in 2018, up from 12% in 2017, so this continues to grow within the mix.",
    "output": "[Cause] ITOM solutions represented 15% of subscription revenue in 2018, up from 12% in 2017 [Relation] cause [Effect] this continues to grow within the mix",
    "gold": "[Cause] ITOM solutions represented 15% of subscription revenue in 2018, up from 12% in 2017 [Relation] cause [Effect] this continues to grow within the mix",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, contracts are typically acreage dedication contracts that can last for 10-20 years, but expose the G&amp;P provider to both capital risk and changing basin economics.",
    "output": "[Cause] contracts are typically acreage dedication contracts that can last for 10-20 years [Relation] cause [Effect] expose the G&amp;P provider to both capital risk and changing basin economics",
    "gold": "[Cause]  contracts are typically acreage dedication contracts that can last for 10-20 years [Relation] cause [Effect] expose the G&amp;P provider to both capital risk and changing basin economics",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Virgin's profitability has drifted lower over the past couple years, but we think this trend is related to declining customer penetration tied to the firm's network expansion.",
    "output": "[Cause] declining customer penetration tied to the firm's network expansion [Relation] cause [Effect] Virgin's profitability has drifted lower over the past couple years",
    "gold": "[Cause] Virgin's profitability has drifted lower over the past couple years [Relation] cause [Effect] declining customer penetration tied to the firm's network expansion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Strong Alberta power markets benefitted the hydro fleet, contributing CAD 77 million in the first quarter versus CAD 26 million last year.",
    "output": "[Cause] Strong Alberta power markets [Relation] enable [Effect] benefitted the hydro fleet, contributing CAD 77 million in the first quarter versus CAD 26 million last year",
    "gold": "[Cause] Strong Alberta power markets [Relation] enable [Effect] benefitted the hydro fleet, contributing CAD 77 million in the first quarter versus CAD 26 million last year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, several of Pfizer's pipeline drugs are reaching markets behind competitors, which may increase the risk of commercialization failure and put downward pricing pressure on the drugs if the clinical data lacks positive differentiation.",
    "output": "[Cause] several of Pfizer's pipeline drugs are reaching markets behind competitors [Relation] cause [Effect] increase the risk of commercialization failure",
    "gold": "[Cause] the clinical data lacks positive differentiation [Relation] cause [Effect] put downward pricing pressure on the drugs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect cybersecurity vendors, in general, will continue to benefit from enterprises continually investing in protection because the increasing amount of data and the larger quantity of network endpoint connections create additional threat opportunities.",
    "output": "[Cause] the increasing amount of data and the larger quantity of network endpoint connections create additional threat opportunities [Relation] cause [Effect] cybersecurity vendors, in general, will continue to benefit from enterprises continually investing in protection",
    "gold": "[Cause] the increasing amount of data and the larger quantity of network endpoint connections create additional threat opportunities [Relation] cause [Effect] cybersecurity vendors, in general, will continue to benefit from enterprises continually investing in protection",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our forecast implies market share gains due to the combined businesses of Icon and PRA and results in a five-year projected revenue compound annual growth rate of about 28%, including the impact of the PRA acquisition.",
    "output": "[Cause] the combined businesses of Icon and PRA [Relation] cause [Effect] market share gains",
    "gold": "[Cause] the combined businesses of Icon and PRA [Relation] cause [Effect]  market share gains",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our forecast implies market share gains due to the combined businesses of Icon and PRA and results in a five-year projected revenue compound annual growth rate of about 28%, including the impact of the PRA acquisition.",
    "output": "[Cause] market share gains [Relation] cause [Effect] a five-year projected revenue compound annual growth rate of about 28%",
    "gold": "[Cause]  market share gains [Relation] cause [Effect]  a five-year projected revenue compound annual growth rate of about 28%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's highly specialized offerings for the life science industry allow companies to improve operational efficiency to get products to market faster while ensuring regulatory compliance and ultimately sell more effectively.",
    "output": "[Cause] The firm's highly specialized offerings for the life science industry [Relation] enable [Effect] companies to improve operational efficiency to get products to market faster while ensuring regulatory compliance and ultimately sell more effectively",
    "gold": "[Cause] The firm's highly specialized offerings for the life science industry [Relation] enable [Effect] companies to improve operational efficiency to get products to market faster while ensuring regulatory compliance and ultimately sell more effectively",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With Verbund, BASF has been able to generate fairly consistent returns above its cost of capital despite a raw material cost disadvantage relative to some of its key U.S.-based peers.",
    "output": "[Cause] Verbund [Relation] enable [Effect] BASF has been able to generate fairly consistent returns above its cost of capital",
    "gold": "[Cause] Verbund [Relation] enable [Effect] BASF has been able to generate fairly consistent returns above its cost of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nearly 90% of the firm's revenue comes from subscription services, mostly via fixed-price, annual, auto-renewal contracts with a low- to mid-90s customer retention rate. This creates revenue stability in an industry with meaningful barriers to (and little incentive for) changing data and analytics providers.",
    "output": "[Cause] Nearly 90% of the firm's revenue comes from subscription services, mostly via fixed-price, annual, auto-renewal contracts with a low- to mid-90s customer retention rate [Relation] cause [Effect] revenue stability in an industry with meaningful barriers to (and little incentive for) changing data and analytics providers",
    "gold": "[Cause] Nearly 90% of the firm's revenue comes from subscription services, mostly via fixed-price, annual, auto-renewal contracts with a low- to mid-90s customer retention rate [Relation] cause [Effect]  revenue stability in an industry with meaningful barriers to (and little incentive for) changing data and analytics providers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In developed markets, CNH Industrial helps customers reduce the total cost of ownership through improved fuel efficiency, limited machine down-time and consistent parts availability.",
    "output": "[Cause] improved fuel efficiency, limited machine down-time and consistent parts availability [Relation] enable [Effect] CNH Industrial helps customers reduce the total cost of ownership",
    "gold": "[Cause] improved fuel efficiency, limited machine down-time and consistent parts availability [Relation] enable [Effect] CNH Industrial helps customers reduce the total cost of ownership",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are bullish on Air Products' long-term prospects and think that the firm's ambitious capital allocation plan will fuel tremendous growth for many years to come, driven by investments in traditional industrial gas projects as well as new opportunities including gasification, green hydrogen, and carbon capture.",
    "output": "[Cause] investments in traditional industrial gas projects as well as new opportunities including gasification, green hydrogen, and carbon capture [Relation] enable [Effect] fuel tremendous growth for many years to come",
    "gold": "[Cause] he firm's ambitious capital allocation plan [Relation] cause [Effect]  fuel tremendous growth for many years to come",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As an E&C firm, Fluor also faces significant event risk, such as legal disputes and cost overruns (which could be caused by a number of factors including labor shortages, subcontractor performance, inclement weather and natural events), which could lead to large losses on individual projects.",
    "output": "[Cause] a number of factors including labor shortages, subcontractor performance, inclement weather and natural events [Relation] cause [Effect] legal disputes and cost overruns",
    "gold": "[Cause] Fluor also faces significant event risk, such as legal disputes and cost overruns (which could be caused by a number of factors including labor shortages, subcontractor performance, inclement weather and natural events) [Relation] cause [Effect] large losses on individual projects",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As an E&C firm, Fluor also faces significant event risk, such as legal disputes and cost overruns (which could be caused by a number of factors including labor shortages, subcontractor performance, inclement weather and natural events), which could lead to large losses on individual projects.",
    "output": "[Cause] legal disputes and cost overruns [Relation] cause [Effect] large losses on individual projects",
    "gold": "[Cause] a number of factors including labor shortages, subcontractor performance, inclement weather and natural events [Relation] cause [Effect] legal disputes and cost overruns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think Smucker will continue to realize 38% gross margins, in line with its historical three-year average, as the firm's continuous improvement initiatives should help offset inflation.",
    "output": "[Cause] the firm's continuous improvement initiatives should help offset inflation [Relation] cause [Effect] Smucker will continue to realize 38% gross margins, in line with its historical three-year average",
    "gold": "[Cause] the firm's continuous improvement initiatives [Relation] enable [Effect] help offset inflation",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Deere and CNH give customers priority on proprietary aftermarket parts and services from dealers, making it easy to understand what the total cost of a machine will be throughout its operating life.",
    "output": "[Cause] Deere and CNH give customers priority on proprietary aftermarket parts and services from dealers [Relation] enable [Effect] easy to understand what the total cost of a machine will be throughout its operating life",
    "gold": "[Cause] Deere and CNH give customers priority on proprietary aftermarket parts and services from dealers [Relation] enable [Effect] easy to understand what the total cost of a machine will be throughout its operating life",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, as some of the large operators trim older hardware from their fleet in order to right size the business, sold ships could be repurposed for another operator at a significantly less expensive price.",
    "output": "[Cause] some of the large operators trim older hardware from their fleet in order to right size the business [Relation] cause [Effect] sold ships could be repurposed for another operator at a significantly less expensive price",
    "gold": "[Cause] some of the large operators trim older hardware from their fleet in order to right size the business [Relation] cause [Effect] sold ships could be repurposed for another operator at a significantly less expensive price",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The new antitrust laws and the government's investigation could lead to fines and elimination of monopolistic practices, which could pressure growth and profitability.",
    "output": "[Cause] The new antitrust laws and the government's investigation could lead to fines and elimination of monopolistic practices [Relation] cause [Effect] pressure growth and profitability",
    "gold": "[Cause] lead to fines and elimination of monopolistic practices, [Relation] cause [Effect] which could pressure growth and profitability.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Unlike fluidized catalytic cracking catalysts, which are constantly replaced because they improve refiner yields, HPCs only need to be replaced every one to three years.",
    "output": "[Cause] they improve refiner yields [Relation] cause [Effect] fluidized catalytic cracking catalysts, which are constantly replaced",
    "gold": "[Cause] they improve refiner yields [Relation] cause [Effect] fluidized catalytic cracking catalysts, which are constantly replaced",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, the potential for increased EV adoption could reduce demand for ethanol (corn is an input) used in ICE vehicles.",
    "output": "[Cause] the potential for increased EV adoption [Relation] enable [Effect] reduce demand for ethanol (corn is an input) used in ICE vehicles",
    "gold": "[Cause] the potential for increased EV adoption [Relation] cause [Effect]  reduce demand for ethanol (corn is an input) used in ICE vehicles",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Gulfstream dominates volume in this segment, with roughly 50% market share, which leads to superior margins due to progression along the learning curve.",
    "output": "[Cause] progression along the learning curve [Relation] cause [Effect] superior margins",
    "gold": "[Cause] progression along the learning curve [Relation] cause [Effect] superior margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2018, almost half of HDD units sold by Western come from desktop and notebook sales and thus the importance of a strong SSD portfolio to capture that shift cannot be understated.",
    "output": "[Cause] almost half of HDD units sold by Western come from desktop and notebook sales [Relation] cause [Effect] the importance of a strong SSD portfolio to capture that shift cannot be understated",
    "gold": "[Cause] almost half of HDD units sold by Western come from desktop and notebook sales [Relation] cause [Effect] the importance of a strong SSD portfolio to capture that shift cannot be understated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As chip designers embrace smaller manufacturing process technologies, the number of transistors on a chip increases to boost performance (while power consumption is often held steady or lowered).",
    "output": "[Cause] chip designers embrace smaller manufacturing process technologies [Relation] cause [Effect] the number of transistors on a chip increases to boost performance",
    "gold": "[Cause]  chip designers embrace smaller manufacturing process technologies [Relation] enable [Effect]  the number of transistors on a chip increases to boost performance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The loss of a transformer in a substation raises significant energy security concerns due to an inventory shortage in the supply chain.",
    "output": "[Cause] an inventory shortage in the supply chain [Relation] cause [Effect] The loss of a transformer in a substation raises significant energy security concerns",
    "gold": "[Cause] an inventory shortage in the supply chain [Relation] cause [Effect] The loss of a transformer in a substation raises significant energy security concerns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Two factors make the Salar de Atacama the lowest-cost source of lithium in the world: dry conditions and high lithium concentration.",
    "output": "[Cause] dry conditions and high lithium concentration [Relation] enable [Effect] the Salar de Atacama the lowest-cost source of lithium in the world",
    "gold": "[Cause] dry conditions and high lithium concentration [Relation] enable [Effect] the Salar de Atacama the lowest-cost source of lithium in the world",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given strong operating leverage, we expect adjusted operating margin (EBIT/net revenue after agent commissions) to surge to 53.8% (from 42.2%) in 2021.",
    "output": "[Cause] strong operating leverage [Relation] cause [Effect] adjusted operating margin (EBIT/net revenue after agent commissions) to surge to 53.8% (from 42.2%) in 2021",
    "gold": "[Cause]  strong operating leverage [Relation] cause [Effect] adjusted operating margin (EBIT/net revenue after agent commissions) to surge to 53.8% (from 42.2%) in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Otis benefits from high revenue visibility and a large portfolio of elevators under maintenance that provides a high degree of security of future orders.",
    "output": "[Cause] high revenue visibility and a large portfolio of elevators under maintenance [Relation] enable [Effect] provides a high degree of security of future orders",
    "gold": "[Cause] high revenue visibility and a large portfolio of elevators under maintenance [Relation] cause [Effect] Otis benefits",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Ultimately, we believe Google can leverage the technological expertise it applied to creating and maintaining its private cloud platform to build and maintain public cloud platforms for many businesses.",
    "output": "[Cause] Google can leverage the technological expertise it applied to creating and maintaining its private cloud platform [Relation] enable [Effect] build and maintain public cloud platforms for many businesses",
    "gold": "[Cause]  build and maintain public cloud platforms for many businesses [Relation] cause [Effect] Google can leverage the technological expertise it applied to creating and maintaining its private cloud platform",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The Chilean central bank recently cut its base rate to 0.5%, which provides near-term tailwinds for margins and longer-term headwinds as loans reprice and consumers refinance mortgages.",
    "output": "[Cause] loans reprice and consumers refinance mortgages [Relation] cause [Effect] longer-term headwinds",
    "gold": "[Cause] loans reprice and consumers refinance mortgages [Relation] cause [Effect] longer-term headwinds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As tax, labor, and workforce regulations have grown in complexity, established providers such as Paychex have benefited by offering additional products and services.",
    "output": "[Cause] tax, labor, and workforce regulations have grown in complexity [Relation] cause [Effect] established providers such as Paychex have benefited by offering additional products and services",
    "gold": "[Cause]  tax, labor, and workforce regulations have grown in complexity [Relation] enable [Effect] established providers such as Paychex have benefited by offering additional products and services",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Still, with a more aligned distribution system following its bottler refranchising, digitization initiatives to drive engagement and operational efficiency, and vast financial resources, the firm is more than equipped to defend its turf.",
    "output": "[Cause] a more aligned distribution system following its bottler refranchising, digitization initiatives to drive engagement and operational efficiency, and vast financial resources [Relation] enable [Effect] the firm is more than equipped to defend its turf",
    "gold": "[Cause] a more aligned distribution system following its bottler refranchising, digitization initiatives to drive engagement and operational efficiency, and vast financial resources [Relation] cause [Effect] the firm is more than equipped to defend its turf",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Eni will continue investing in biorefineries, which use waste products to produce fuels, expanding its capacity from about 1 million tonnes per annum to 5 mtpa in 2050.",
    "output": "[Cause] waste products to produce fuels [Relation] cause [Effect] expanding its capacity from about 1 million tonnes per annum to 5 mtpa in 2050",
    "gold": "[Cause] continue investing in biorefineries [Relation] cause [Effect] expanding its capacity from about 1 million tonnes per annum to 5 mtpa in 2050",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm boasts a large customer base that we believe somewhat reduces the volatility in earnings (no customer accounts for 10% of revenue).",
    "output": "[Cause] The firm boasts a large customer base [Relation] cause [Effect] reduces the volatility in earnings",
    "gold": "[Cause] The firm boasts a large customer base [Relation] prevent [Effect] the volatility in earnings (no customer accounts for 10% of revenue)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The amount of profit the firm earns from television service has been declining for several years, but revenue and profit per customer continue to grow as more customers take Internet access service at higher prices.",
    "output": "[Cause] more customers take Internet access service at higher prices [Relation] cause [Effect] revenue and profit per customer continue to grow",
    "gold": "[Cause] more customers take Internet access service at higher prices [Relation] cause [Effect] revenue and profit per customer continue to grow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We increased our fair value estimate to $64 per share from $61 per share in part due to the fact that the company is closer to completing the new nuclear units at Vogtle.",
    "output": "[Cause] the fact that the company is closer to completing the new nuclear units at Vogtle [Relation] cause [Effect] We increased our fair value estimate to $64 per share from $61 per share in part",
    "gold": "[Cause] the fact that the company is closer to completing the new nuclear units at Vogtle [Relation] cause [Effect] We increased our fair value estimate to $64 per share from $61 per share in part",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe SMBs will continue to outsource recruiting to Robert Half, saving clients time and from being too slow-footed.",
    "output": "[Cause] SMBs will continue to outsource recruiting to Robert Half [Relation] enable [Effect] saving clients time and from being too slow-footed",
    "gold": "[Cause] saving clients time and from being too slow-footed [Relation] enable [Effect]  SMBs will continue to outsource recruiting to Robert Half",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Facebook's large and growing user base and the rich data that it generates help advertisers post more effective target ads, in terms of brand awareness, resulting in high return on investment.",
    "output": "[Cause] Facebook's large and growing user base and the rich data that it generates [Relation] enable [Effect] advertisers post more effective target ads",
    "gold": "[Cause] Facebook's large and growing user base and the rich data that it generates [Relation] enable [Effect] advertisers post more effective target ads",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Facebook's large and growing user base and the rich data that it generates help advertisers post more effective target ads, in terms of brand awareness, resulting in high return on investment.",
    "output": "[Cause] advertisers post more effective target ads [Relation] enable [Effect] high return on investment",
    "gold": "[Cause] advertisers post more effective target ads [Relation] cause [Effect] high return on investment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The bank is one of the top issuers of credit cards, where many of the costs of running a payments platform are fixed and high in nature, leading to the need for scale.",
    "output": "[Cause] many of the costs of running a payments platform are fixed and high in nature [Relation] cause [Effect] the need for scale",
    "gold": "[Cause] many of the costs of running a payments platform are fixed and high in nature [Relation] cause [Effect] the need for scale",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Federal and state regulations and not-in-my-backyard (NIMBY) activism have made its very costly to operate and close landfills and extremely difficult to receive approval for new landfills.",
    "output": "[Cause] Federal and state regulations and not-in-my-backyard (NIMBY) activism [Relation] cause [Effect] its very costly to operate and close landfills and extremely difficult to receive approval for new landfills",
    "gold": "[Cause] Federal and state regulations and not-in-my-backyard (NIMBY) activism [Relation] cause [Effect]  its very costly to operate and close landfills and extremely difficult to receive approval for new landfills",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The growing prevalence of e-commerce has intensified the competitive environment because of more price transparency and increased access to a wider array of vendors, including Amazon Business, which has entered the mix.",
    "output": "[Cause] more price transparency and increased access to a wider array of vendors [Relation] cause [Effect] The growing prevalence of e-commerce has intensified the competitive environment",
    "gold": "[Cause]  more price transparency and increased access to a wider array of vendors [Relation] cause [Effect] The growing prevalence of e-commerce has intensified the competitive environment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The growing prevalence of e-commerce has intensified the competitive environment because of more price transparency and increased access to a wider array of vendors, including Amazon Business, which has entered the mix.",
    "output": "[Cause] more price transparency and increased access to a wider array of vendors [Relation] cause [Effect] The growing prevalence of e-commerce has intensified the competitive environment",
    "gold": "[Cause] The growing prevalence of e-commerce [Relation] cause [Effect]  intensified the competitive environment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the specter of slower turns and higher input costs, coupled with a smaller target market, discourages other public companies from becoming more concentrated in the luxury space.",
    "output": "[Cause] the specter of slower turns and higher input costs, coupled with a smaller target market [Relation] prevent [Effect] other public companies from becoming more concentrated in the luxury space",
    "gold": "[Cause] the specter of slower turns and higher input costs, coupled with a smaller target market [Relation] prevent [Effect] other public companies from becoming more concentrated in the luxury space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A strong asset-management brand is conducive to net inflows, and larger investors tend to stay invested with a current manager, rather than switching to a new manager with a similar strategy.",
    "output": "[Cause] A strong asset-management brand [Relation] enable [Effect] net inflows",
    "gold": "[Cause] A strong asset-management brand is conducive to net inflows [Relation] cause [Effect] larger investors tend to stay invested with a current manager, rather than switching to a new manager with a similar strategy",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "It also benefits from a lower promotional cadence thanks to SKU rationalization and the utilization of more robust inventory management processes.",
    "output": "[Cause] SKU rationalization and the utilization of more robust inventory management processes [Relation] cause [Effect] It also benefits from a lower promotional cadence",
    "gold": "[Cause] SKU rationalization and the utilization of more robust inventory management processes [Relation] cause [Effect] It also benefits from a lower promotional cadence",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Twilio's software routes calls/messages to the most cost effective and fastest carrier, allowing for low latency client communication at the lowest possible expense.",
    "output": "[Cause] Twilio's software routes calls/messages to the most cost effective and fastest carrier [Relation] enable [Effect] low latency client communication at the lowest possible expense",
    "gold": "[Cause] Twilio's software routes calls/messages to the most cost effective and fastest carrier [Relation] enable [Effect] low latency client communication at the lowest possible expense",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Volumes are unlikely to grow much beyond current levels of nearly 100 mboe/d, but improvements in drilling times and other advancements means those levels can be preserved with half the number of rigs needed in 2016.",
    "output": "[Cause] improvements in drilling times and other advancements [Relation] enable [Effect] those levels can be preserved with half the number of rigs needed in 2016",
    "gold": "[Cause] improvements in drilling times and other advancements [Relation] enable [Effect] those levels can be preserved with half the number of rigs needed in 2016",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Efficiency gains and technology have also helped drive costs down for Parsley and its competitors. As a result, like many of the top shale firms, Parsley is now living within cash flows and expects to keep doing so.",
    "output": "[Cause] Efficiency gains and technology have also helped drive costs down for Parsley and its competitors [Relation] cause [Effect] like many of the top shale firms, Parsley is now living within cash flows and expects to keep doing so",
    "gold": "[Cause] Efficiency gains and technology have also helped drive costs down for Parsley and its competitors [Relation] cause [Effect] like many of the top shale firms, Parsley is now living within cash flows and expects to keep doing so",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because it relied on one-time funding rather than on an increase in the gas tax, the risk to highway funding has returned as the FAST Act nears expiration.",
    "output": "[Cause] it relied on one-time funding rather than on an increase in the gas tax [Relation] cause [Effect] the risk to highway funding has returned",
    "gold": "[Cause]  it relied on one-time funding rather than on an increase in the gas tax [Relation] cause [Effect] the risk to highway funding has returned",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because it relied on one-time funding rather than on an increase in the gas tax, the risk to highway funding has returned as the FAST Act nears expiration.",
    "output": "[Cause] the FAST Act nears expiration [Relation] cause [Effect] the risk to highway funding has returned",
    "gold": "[Cause] the FAST Act nears expiration [Relation] enable [Effect] the risk to highway funding has returned",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite Landstar's impressive safety-related record, increases in the severity or frequency of accident claims adversely affect results and add an element of variability to earnings.",
    "output": "[Cause] increases in the severity or frequency of accident claims adversely [Relation] cause [Effect] affect results and add an element of variability to earnings",
    "gold": "[Cause] increases in the severity or frequency of accident claims adversely [Relation] enable [Effect] affect results and add an element of variability to earnings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast 9% annual earnings growth at Southern's four natural gas distribution utilities, driven by an estimated $8 billion of capital expenditures over the next five years.",
    "output": "[Cause] an estimated $8 billion of capital expenditures over the next five years [Relation] cause [Effect] 9% annual earnings growth at Southern's four natural gas distribution utilities",
    "gold": "[Cause] an estimated $8 billion of capital expenditures over the next five years [Relation] enable [Effect] 9% annual earnings growth at Southern's four natural gas distribution utilities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the influx of supply in some of Public Storage's newly penetrated markets signals a slowing in the ability to increase prices.",
    "output": "[Cause] the influx of supply in some of Public Storage's newly penetrated markets [Relation] cause [Effect] a slowing in the ability to increase prices",
    "gold": "[Cause] the influx of supply in some of Public Storage's newly penetrated markets [Relation] enable [Effect] a slowing in the ability to increase prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast more muted growth for the building product segments in the 3% range, having benefited from strong residential repair and maintenance activity during the pandemic in 2020.",
    "output": "[Cause] strong residential repair and maintenance activity during the pandemic in 2020 [Relation] cause [Effect] more muted growth for the building product segments in the 3% range",
    "gold": "[Cause] strong residential repair and maintenance activity during the pandemic in 2020 [Relation] cause [Effect] more muted growth for the building product segments in the 3% range",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, the performance and asset values of Welltower's portfolio will suffer if Welltower's operating partners fail to provide superior care or Welltower's assets fail to retain the top tenants.",
    "output": "[Cause] Welltower's operating partners fail to provide superior care or Welltower's assets fail to retain the top tenants [Relation] cause [Effect] the performance and asset values of Welltower's portfolio will suffer",
    "gold": "[Cause] Welltower's operating partners fail to provide superior care or Welltower's assets fail to retain the top tenants [Relation] enable [Effect] the performance and asset values of Welltower's portfolio will suffer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Tesla's mission is to make EVs increasingly more affordable, which means more assembly plants must come on line to achieve annual unit delivery volume in the millions.",
    "output": "[Cause] Tesla's mission is to make EVs increasingly more affordable [Relation] cause [Effect] more assembly plants must come on line to achieve annual unit delivery volume in the millions",
    "gold": "[Cause] more assembly plants must come on line [Relation] enable [Effect] achieve annual unit delivery volume in the millions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While there is evidence that these products enhance US Foods' margins, we think they don't enhance the firm's competitive advantage, as they are essentially agricultural commodities and therefore easy to replicate.",
    "output": "[Cause] they are essentially agricultural commodities [Relation] cause [Effect] easy to replicate",
    "gold": "[Cause] they are essentially agricultural commodities [Relation] cause [Effect] we think they don't enhance the firm's competitive advantage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While there is evidence that these products enhance US Foods' margins, we think they don't enhance the firm's competitive advantage, as they are essentially agricultural commodities and therefore easy to replicate.",
    "output": "[Cause] they are essentially agricultural commodities and therefore easy to replicate [Relation] cause [Effect] we think they don't enhance the firm's competitive advantage",
    "gold": "[Cause] they are essentially agricultural commodities [Relation] cause [Effect] easy to replicate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Though we do expect the rise in passive investing to affect FactSet on the margin, the company still achieves impressively high returns on invested capital exceeding 30%.",
    "output": "[Cause] the rise in passive investing [Relation] cause [Effect] affect FactSet on the margin",
    "gold": "[Cause]  the rise in passive investing [Relation] cause [Effect] affect FactSet on the margin",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Therefore, we do see increased risk of decreased profitability for the bank in the event of a housing downturn, and this decrease could be more severe than for other banks.",
    "output": "[Cause] increased risk of decreased profitability for the bank in the event of a housing downturn [Relation] cause [Effect] this decrease could be more severe than for other banks",
    "gold": "[Cause] increased risk of decreased profitability for the bank in the event of a housing downturn [Relation] cause [Effect] this decrease could be more severe than for other banks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the 2 Jun 2021 05:00, UTCnetwork effect is strongest on the MercadoLibre platform (where 90% of the listings are fixed price) and believe this key competitive advantage is enough to set the firm apart from competition, making it difficult for rivals to poach customers.",
    "output": "[Cause] the 2 Jun 2021 05:00 [Relation] cause [Effect] UTCnetwork effect is strongest on the MercadoLibre platform",
    "gold": "[Cause] this key competitive advantage [Relation] cause [Effect] set the firm apart from competition",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think the 2 Jun 2021 05:00, UTCnetwork effect is strongest on the MercadoLibre platform (where 90% of the listings are fixed price) and believe this key competitive advantage is enough to set the firm apart from competition, making it difficult for rivals to poach customers.",
    "output": "[Cause] this key competitive advantage [Relation] enable [Effect] set the firm apart from competition",
    "gold": "[Cause] this key competitive advantage [Relation] prevent [Effect] rivals to poach customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, the potential for cross-selling of services between Teladoc and Livongo is substantial as the two companies had less than a 25% overlap in client base before the merger.",
    "output": "[Cause] the two companies had less than a 25% overlap in client base before the merger [Relation] cause [Effect] the potential for cross-selling of services between Teladoc and Livongo is substantial",
    "gold": "[Cause] the two companies had less than a 25% overlap in client base before the merger [Relation] cause [Effect]  the potential for cross-selling of services between Teladoc and Livongo is substantial",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If interest rates increase faster than expected, Enterprise units could underperform, as a steepening yield curve increases expected distribution yield for competing assets.",
    "output": "[Cause] a steepening yield curve increases expected distribution yield for competing assets [Relation] cause [Effect] Enterprise units could underperform",
    "gold": "[Cause]  a steepening yield curve increases expected distribution yield for competing assets [Relation] prevent [Effect] Enterprise units could underperform",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Wells Fargo operates in more MSAs and arguably has the broadest branch network in the U.S. As a result, the bank has the third highest deposit share in the U.S., with the fourth largest player being less than half the size.",
    "output": "[Cause] Wells Fargo operates in more MSAs and arguably has the broadest branch network in the U.S [Relation] cause [Effect] the bank has the third highest deposit share in the U.S., with the fourth largest player being less than half the size",
    "gold": "[Cause] Wells Fargo operates in more MSAs and arguably has the broadest branch network in the U.S [Relation] cause [Effect]  the bank has the third highest deposit share in the U.S., with the fourth largest player being less than half the size",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think deal sizes are growing more because of increasingly larger customer sizes--that is, moving from small municipal governments, to countywide and statewide deals.",
    "output": "[Cause] increasingly larger customer sizes [Relation] cause [Effect] deal sizes are growing more",
    "gold": "[Cause] increasingly larger customer sizes [Relation] cause [Effect] deal sizes are growing more",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also think Monjuvi is a differentiated drug in a relatively large indication, as it is approved as a treatment for second-line diffuse large B-cell lymphoma.",
    "output": "[Cause] it is approved as a treatment for second-line diffuse large B-cell lymphoma [Relation] cause [Effect] Monjuvi is a differentiated drug in a relatively large indication",
    "gold": "[Cause]  it is approved as a treatment for second-line diffuse large B-cell lymphoma [Relation] cause [Effect]  Monjuvi is a differentiated drug in a relatively large indication",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, we believe the risk of a significant adverse event is lower than it was one or two decades ago, but the shifting sands of regulation have created some new risks to Altria's business model in recent years and we have raised our uncertainty rating to medium from low.",
    "output": "[Cause] the shifting sands of regulation have created some new risks to Altria's business model in recent years [Relation] cause [Effect] we have raised our uncertainty rating to medium from low",
    "gold": "[Cause] the shifting sands of regulation [Relation] cause [Effect]  some new risks to Altria's business model",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Healthpeak's life science and medical office portfolios will feature more prominently in the future as the proceeds from the senior housing sales are reinvested into these two sectors.",
    "output": "[Cause] the proceeds from the senior housing sales are reinvested into these two sectors [Relation] cause [Effect] Healthpeak's life science and medical office portfolios will feature more prominently in the future",
    "gold": "[Cause] the proceeds from the senior housing sales are reinvested into these two sectors [Relation] cause [Effect] Healthpeak's life science and medical office portfolios will feature more prominently in the future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we expect Astra will decelerate these asset sales as newly launched drugs offset patent pressures, a prolonged period of low returns could ensue if these avenues of divestments dry up quicker than anticipated.",
    "output": "[Cause] newly launched drugs offset patent pressures [Relation] cause [Effect] Astra will decelerate these asset sales",
    "gold": "[Cause] newly launched drugs offset patent pressures [Relation] cause [Effect]  Astra will decelerate these asset sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we expect Astra will decelerate these asset sales as newly launched drugs offset patent pressures, a prolonged period of low returns could ensue if these avenues of divestments dry up quicker than anticipated.",
    "output": "[Cause] newly launched drugs offset patent pressures [Relation] cause [Effect] Astra will decelerate these asset sales",
    "gold": "[Cause]  these avenues of divestments dry up quicker than anticipated [Relation] cause [Effect]  a prolonged period of low returns could ensue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Longer term, we expect revenue to rise at a faster pace than marketing spending, but for R&D expenses to stay elevated as the firm continually reinvests in innovation.",
    "output": "[Cause] the firm continually reinvests in innovation [Relation] cause [Effect] R&D expenses to stay elevated",
    "gold": "[Cause] the firm continually reinvests in innovation [Relation] cause [Effect] R&D expenses to stay elevated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Still, Pegasystems embraced its roots and began developing and acquiring CRM and related assets in order to assemble a suite of customer engagement applications.",
    "output": "[Cause] Pegasystems embraced its roots and began developing and acquiring CRM and related assets [Relation] enable [Effect] assemble a suite of customer engagement applications",
    "gold": "[Cause] Pegasystems embraced its roots and began developing and acquiring CRM and related assets [Relation] enable [Effect] assemble a suite of customer engagement applications",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the company's leading position in mature markets, we believe the company's underyling growth over the long term will be fairly modest.",
    "output": "[Cause] the company's leading position in mature markets [Relation] cause [Effect] the company's underyling growth over the long term will be fairly modest",
    "gold": "[Cause] the company's leading position in mature markets [Relation] cause [Effect] the company's underyling growth over the long term will be fairly modest",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The ability to share mobile towers via the Tower Company joint venture should help to speed up the 5G network rollout and lower its overall costs as will a radio access network sharing arrangement with China Unicom for the 5G network rollout.",
    "output": "[Cause] The ability to share mobile towers via the Tower Company joint venture [Relation] enable [Effect] speed up the 5G network rollout and lower its overall costs",
    "gold": "[Cause] The ability to share mobile towers via the Tower Company joint venture [Relation] cause [Effect] speed up the 5G network rollout and lower its overall costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are raising our fair value estimate for Americold Realty to $33 per share from $32 mainly due to the time value of money.",
    "output": "[Cause] the time value of money [Relation] cause [Effect] We are raising our fair value estimate for Americold Realty to $33 per share from $32",
    "gold": "[Cause] the time value of money [Relation] cause [Effect] We are raising our fair value estimate for Americold Realty to $33 per share from $32",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the long run, we expect the rail to invest approximately 19% of sales on average in capital expenditures to maintain and improve network operations--below the historical average thanks in part to previous asset utilization gains.",
    "output": "[Cause] previous asset utilization gains [Relation] cause [Effect] the rail to invest approximately 19% of sales on average in capital expenditures to maintain and improve network operations--below the historical average",
    "gold": "[Cause] previous asset utilization gains [Relation] enable [Effect] we expect the rail to invest approximately 19% of sales on average in capital expenditures to maintain and improve network operations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Vontier has a strong record of continuous improvement, and we believe that management can continue to boost core operating margins by roughly 25-50 basis points per year.",
    "output": "[Cause] Vontier has a strong record of continuous improvement [Relation] enable [Effect] management can continue to boost core operating margins by roughly 25-50 basis points per year",
    "gold": "[Cause] Vontier has a strong record of continuous improvement [Relation] cause [Effect]  management can continue to boost core operating margins by roughly 25-50 basis points per year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As digital entrants scale and full-price retailers become even more aggressive in attempting to drive traffic, the competitive environment should remain volatile.",
    "output": "[Cause] digital entrants scale and full-price retailers become even more aggressive in attempting to drive traffic [Relation] cause [Effect] the competitive environment should remain volatile",
    "gold": "[Cause] digital entrants scale and full-price retailers become even more aggressive in attempting to drive traffic [Relation] cause [Effect] the competitive environment should remain volatile",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The environment is also markedly different from the strong backdrop pre-pandemic, with high unemployment pressuring discretionary income and customer hesitance to shop in-store likely hindering sales to some extent.",
    "output": "[Cause] high unemployment [Relation] cause [Effect] pressuring discretionary income",
    "gold": "[Cause] high unemployment [Relation] enable [Effect]  pressuring discretionary income",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The environment is also markedly different from the strong backdrop pre-pandemic, with high unemployment pressuring discretionary income and customer hesitance to shop in-store likely hindering sales to some extent.",
    "output": "[Cause] high unemployment [Relation] prevent [Effect] discretionary income",
    "gold": "[Cause] customer hesitance to shop in-store [Relation] prevent [Effect] sales to some extent",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Its solar business, once the rising star of the company, has suffered aggressive pricing declines (15%-20% annually) caused by the penetration of upstart Chinese photovoltaic module vendors.",
    "output": "[Cause] the penetration of upstart Chinese photovoltaic module vendors [Relation] cause [Effect] Its solar business, once the rising star of the company, has suffered aggressive pricing declines",
    "gold": "[Cause] the penetration of upstart Chinese photovoltaic module vendors [Relation] cause [Effect] Its solar business, once the rising star of the company, has suffered aggressive pricing declines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Online ad revenue is expected to see a 10-year CAGR of 15%, driven by the gradual yet inevitable increase in ad inventories (for example, Moments and miniprograms) and ad formats, the continuous shift of marketing budgets to online and social media, and improving advertising technologies in targeting and conversion.",
    "output": "[Cause] the gradual yet inevitable increase in ad inventories (for example, Moments and miniprograms) and ad formats, the continuous shift of marketing budgets to online and social media, and improving advertising technologies in targeting and conversion [Relation] cause [Effect] Online ad revenue is expected to see a 10-year CAGR of 15%",
    "gold": "[Cause]  the gradual yet inevitable increase in ad inventories (for example, Moments and miniprograms) and ad formats, the continuous shift of marketing budgets to online and social media, and improving advertising technologies in targeting and conversion [Relation] enable [Effect] Online ad revenue is expected to see a 10-year CAGR of 15%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In a stronger economy, increased sales of new (under-warranty) cars and trucks could lead scrappage rates higher, reducing demand as older vehicles are replaced with more reliable alternatives that will not need significant aftermarket components for years.",
    "output": "[Cause] increased sales of new (under-warranty) cars and trucks [Relation] cause [Effect] scrappage rates higher",
    "gold": "[Cause] increased sales of new (under-warranty) cars and trucks [Relation] cause [Effect] scrappage rates higher",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view Rolls-Royce's lack of expertise in the narrow-body market relative to peers lowers the probability of success in the next generation of narrow-body aircraft programs.",
    "output": "[Cause] Rolls-Royce's lack of expertise in the narrow-body market relative to peers [Relation] prevent [Effect] the probability of success in the next generation of narrow-body aircraft programs",
    "gold": "[Cause] Rolls-Royce's lack of expertise in the narrow-body market relative to peers [Relation] enable [Effect]  lowers the probability of success in the next generation of narrow-body aircraft program",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Operating in offshore environments exposes BP to the risk of large oil spills that could result in material losses through lost revenue, fines or penalties, or loss of license to operate.",
    "output": "[Cause] Operating in offshore environments exposes BP to the risk of large oil spills [Relation] cause [Effect] material losses through lost revenue, fines or penalties, or loss of license to operate",
    "gold": "[Cause] Operating in offshore environments exposes BP to the risk of large oil spills [Relation] enable [Effect] material losses through lost revenue, fines or penalties, or loss of license to operate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The highly cyclical nature of the structural panel business in particular, representing 45% of revenue, causes profitability to swing substantially depending on the amount of demand for housing starts and remodeling.",
    "output": "[Cause] The highly cyclical nature of the structural panel business in particular, representing 45% of revenue [Relation] cause [Effect] profitability to swing substantially depending on the amount of demand for housing starts and remodeling",
    "gold": "[Cause] The highly cyclical nature of the structural panel business in particular, representing 45% of revenue [Relation] cause [Effect] profitability to swing substantially depending on the amount of demand for housing starts and remodeling",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think one major reason why Boeing has been reluctant to pause production while the MAX remains grounded is to protect the health of the supply chain.",
    "output": "[Cause] protect the health of the supply chain [Relation] cause [Effect] Boeing has been reluctant to pause production while the MAX remains grounded",
    "gold": "[Cause] Boeing has been reluctant to pause production [Relation] enable [Effect] the health of the supply chain",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, these projects will also weigh on returns as they were sanctioned at the top of the cycle and experienced budget overruns, leaving an inflated capital base. Consequently, Chevron's plans call for returns to only reach 10% in 2025 at $60/bbl, improved from recent levels, but well below historical levels, but free cash flow should grow during the next five years.",
    "output": "[Cause] these projects will also weigh on returns as they were sanctioned at the top of the cycle and experienced budget overruns, leaving an inflated capital base [Relation] cause [Effect] Chevron's plans call for returns to only reach 10% in 2025 at $60/bbl, improved from recent levels, but well below historical levels, but free cash flow should grow during the next five years",
    "gold": "[Cause]  these projects will also weigh on returns as they were sanctioned at the top of the cycle and experienced budget overruns, leaving an inflated capital base [Relation] cause [Effect] Chevron's plans call for returns to only reach 10% in 2025 at $60/bbl, improved from recent levels, but well below historical levels, but free cash flow should grow during the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Booking derives most of its sales from international markets, exposing it to exchange-rate fluctuations that are often near term yet can meaningfully affect sales and profitability.",
    "output": "[Cause] Booking derives most of its sales from international markets [Relation] cause [Effect] exposing it to exchange-rate fluctuations that are often near term yet can meaningfully affect sales and profitability",
    "gold": "[Cause] exchange-rate fluctuations [Relation] cause [Effect] meaningfully affect sales and profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Though Mettler has a leading market position in the business, food retail is a highly competitive space, and competitive bidding to win business from large customers like Walmart through tender offers tends to squeeze margins and limit competitive differentiation.",
    "output": "[Cause] food retail is a highly competitive space [Relation] cause [Effect] competitive bidding to win business from large customers like Walmart through tender offers tends to squeeze margins and limit competitive differentiation",
    "gold": "[Cause]  food retail is a highly competitive space [Relation] cause [Effect] competitive bidding to win business from large customers like Walmart through tender offers tends to squeeze margins and limit competitive differentiation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nonetheless, Hanes' adjusted gross margins have improved to the high 30s in recent years from the low-30s before 2013 due to the introduction of innovative product with better pricing and low-cost manufacturing.",
    "output": "[Cause] the introduction of innovative product with better pricing and low-cost manufacturing [Relation] cause [Effect] Hanes' adjusted gross margins have improved to the high 30s in recent years from the low-30s before 2013",
    "gold": "[Cause] the introduction of innovative product with better pricing and low-cost manufacturing [Relation] enable [Effect] Hanes' adjusted gross margins have improved to the high 30s in recent years from the low-30s before 2013",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The prior management team was more closed off, so we look forward to the merger with Pfizer's Upjohn segment as we believe the changing of the guard could improve visibility into the company's strategy and performance.",
    "output": "[Cause] the changing of the guard could improve visibility into the company's strategy and performance [Relation] cause [Effect] we look forward to the merger with Pfizer's Upjohn segment",
    "gold": "[Cause] the changing of the guard could improve visibility into the company's strategy and performance [Relation] cause [Effect] we look forward to the merger with Pfizer's Upjohn segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Amazon has been insourcing more of its own last-mile delivery needs at a rapid pace to supplement capacity access amid robust growth. This removes some incremental growth opportunities for UPS while creating risk that Amazon decides to take in house the shipments it currently sends though UPS--the retailer now makes up about 13% of UPS' total revenue.",
    "output": "[Cause] Amazon has been insourcing more of its own last-mile delivery needs at a rapid pace to supplement capacity access amid robust growth [Relation] cause [Effect] removes some incremental growth opportunities for UPS while creating risk that Amazon decides to take in house the shipments it currently sends though UPS--the retailer now makes up about 13% of UPS' total revenue",
    "gold": "[Cause] Amazon has been insourcing more of its own last-mile delivery needs at a rapid pace to supplement capacity access amid robust growth [Relation] cause [Effect] removes some incremental growth opportunities for UPS while creating risk that Amazon decides to take in house the shipments it currently sends though UPS--the retailer now makes up about 13% of UPS' total revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its software assigns users one phone number that can be used for all RingCentral communications, both on a desktop as well as on a mobile device. This supports ease of product interoperability, enabling users on the go to transfer a desktop call to their phone without interruption or a sacrifice in call quality.",
    "output": "[Cause] Its software assigns users one phone number that can be used for all RingCentral communications, both on a desktop as well as on a mobile device [Relation] enable [Effect] users on the go to transfer a desktop call to their phone without interruption or a sacrifice in call quality",
    "gold": "[Cause] Its software assigns users one phone number that can be used for all RingCentral communications, both on a desktop as well as on a mobile device [Relation] enable [Effect]  users on the go to transfer a desktop call to their phone without interruption or a sacrifice in call quality",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the event of a housing downturn, the company could see a combination of increased holding costs and interest expenses cause significant stress on its financial results.",
    "output": "[Cause] the company could see a combination of increased holding costs and interest expenses [Relation] cause [Effect] significant stress on its financial results",
    "gold": "[Cause] the company could see a combination of increased holding costs and interest expenses [Relation] cause [Effect] significant stress on its financial results",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As one of the leading manufacturers of energy-efficient light commercial and residential HVAC products, the firm has long been focused on sustainability, and based on its recent product strategy and growth investments, we believe this focus will continue.",
    "output": "[Cause] As one of the leading manufacturers of energy-efficient light commercial and residential HVAC products [Relation] cause [Effect] the firm has long been focused on sustainability",
    "gold": "[Cause] its recent product strategy and growth investments [Relation] cause [Effect] this focus will continue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As one of the leading manufacturers of energy-efficient light commercial and residential HVAC products, the firm has long been focused on sustainability, and based on its recent product strategy and growth investments, we believe this focus will continue.",
    "output": "[Cause] its recent product strategy and growth investments [Relation] enable [Effect] we believe this focus will continue",
    "gold": "[Cause] the firm has long been focused on sustainability [Relation] cause [Effect] this focus will continue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Wayfair continues to outspend versus its peers as a percentage of sales on advertising, confirming that it has to outpace its peers in order to steal share.",
    "output": "[Cause] it has to outpace its peers in order to steal share [Relation] cause [Effect] Wayfair continues to outspend versus its peers as a percentage of sales on advertising",
    "gold": "[Cause]  a percentage of sales on advertising [Relation] cause [Effect] Wayfair continues to outspend versus its peers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm's distribution reach encompasses over 200 countries, and this apparatus has been refined over decades, making the company more equipped to strategically and tactically deploy the appropriate go-to-market approach that will extract the best possible economics from its businesses.",
    "output": "[Cause] The firm's distribution reach encompasses over 200 countries, and this apparatus has been refined over decades [Relation] enable [Effect] the company more equipped to strategically and tactically deploy the appropriate go-to-market approach that will extract the best possible economics from its businesses",
    "gold": "[Cause] The firm's distribution reach encompasses over 200 countries, and this apparatus has been refined over decades [Relation] enable [Effect] the company more equipped to strategically and tactically deploy the appropriate go-to-market approach that will extract the best possible economics from its businesses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "When modernizing an elevator or escalator, the aim is to prolong its life while avoiding the costs of a full investment in new equipment but also ensuring safety and reliability.",
    "output": "[Cause] modernizing an elevator or escalator [Relation] enable [Effect] prolong its life while avoiding the costs of a full investment in new equipment but also ensuring safety and reliability",
    "gold": "[Cause] modernizing an elevator or escalator [Relation] cause [Effect] prolong its life while avoiding the costs of a full investment in new equipment but also ensuring safety and reliability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, most anchors and in-line tenants in shopping centers are not differentiated enough to create a significant draw to the property outside the immediate trade area.",
    "output": "[Cause] most anchors and in-line tenants in shopping centers are not differentiated enough [Relation] cause [Effect] create a significant draw to the property outside the immediate trade area",
    "gold": "[Cause] most anchors and in-line tenants in shopping centers are not differentiated enough [Relation] prevent [Effect] create a significant draw to the property outside the immediate trade area",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The more a small craft operation gains scale and distribution, the less it jibes with this type of sentiment, and the less appealing it becomes to this type of consumer.",
    "output": "[Cause] The more a small craft operation gains scale and distribution [Relation] cause [Effect] the less it jibes with this type of sentiment, and the less appealing it becomes to this type of consumer",
    "gold": "[Cause] The more a small craft operation gains scale and distribution [Relation] cause [Effect]  the less it jibes with this type of sentiment, and the less appealing it becomes to this type of consumer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Most of the company's peers, including Polaris' Indian brand and BRP's Spyder/Ryker motorcycles, currently share floor space with other powersports peers, and would have to build an independent dealer base that sells only its own products from scratch. This would force the competing brands to find willing participants that agree to sell just one brand, forgoing flexibility to sell the most popular products at certain times depending on product launches, something we think is unlikely.",
    "output": "[Cause] Most of the company's peers, including Polaris' Indian brand and BRP's Spyder/Ryker motorcycles, currently share floor space with other powersports peers, and would have to build an independent dealer base that sells only its own products from scratch [Relation] cause [Effect] force the competing brands to find willing participants that agree to sell just one brand, forgoing flexibility to sell the most popular products at certain times depending on product launches, something we think is unlikely",
    "gold": "[Cause] Most of the company's peers, including Polaris' Indian brand and BRP's Spyder/Ryker motorcycles, currently share floor space with other powersports peers, and would have to build an independent dealer base that sells only its own products from scratch [Relation] cause [Effect] force the competing brands to find willing participants that agree to sell just one brand, forgoing flexibility to sell the most popular products at certain times depending on product launches, something we think is unlikely",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, eroding switching costs for Xerox is reflective in their declining equipment market share as Canon and HP grew share.",
    "output": "[Cause] Canon and HP grew share [Relation] cause [Effect] eroding switching costs for Xerox is reflective in their declining equipment market share",
    "gold": "[Cause] Canon and HP grew share [Relation] cause [Effect] eroding switching costs for Xerox is reflective in their declining equipment market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With its merger with First Data in 2019, Fiserv expanded into merchant acquiring, and the acceptance segment, which contains these operations, makes up about 40% of revenue.",
    "output": "[Cause] its merger with First Data in 2019 [Relation] enable [Effect] Fiserv expanded into merchant acquiring",
    "gold": "[Cause]  its merger with First Data in 2019 [Relation] enable [Effect] Fiserv expanded into merchant acquiring",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, we forecast gross and operating margins of 55.4% and 18.4%, respectively, down from 55.9% and 22.3% last year, as the lower store sales and discounting reduces cost leverage.",
    "output": "[Cause] the lower store sales and discounting reduces cost leverage [Relation] cause [Effect] gross and operating margins of 55.4% and 18.4%, respectively, down from 55.9% and 22.3% last year",
    "gold": "[Cause] the lower store sales and discounting [Relation] prevent [Effect] cost leverage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, we forecast gross and operating margins of 55.4% and 18.4%, respectively, down from 55.9% and 22.3% last year, as the lower store sales and discounting reduces cost leverage.",
    "output": "[Cause] the lower store sales and discounting reduces cost leverage [Relation] cause [Effect] gross and operating margins of 55.4% and 18.4%, respectively, down from 55.9% and 22.3% last year",
    "gold": "[Cause]  the lower store sales and discounting reduces cost leverage [Relation] cause [Effect] gross and operating margins of 55.4% and 18.4%, respectively, down from 55.9% and 22.3% last year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With limited growth, intense competition, and rising use of costlier fulfillment methods, we foresee the benefits of Target's e-commerce and efficiency gains translating to little profitability improvement, expecting its adjusted operating margin to remain near fiscal 2020's 7% mark.",
    "output": "[Cause] limited growth, intense competition, and rising use of costlier fulfillment methods [Relation] cause [Effect] the benefits of Target's e-commerce and efficiency gains translating to little profitability improvement, expecting its adjusted operating margin to remain near fiscal 2020's 7% mark",
    "gold": "[Cause] With limited growth, intense competition, and rising use of costlier fulfillment methods [Relation] cause [Effect] we foresee the benefits of Target's e-commerce and efficiency gains translating to little profitability improvement",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While online deposits have allowed Capital One to increase the size and geographical breadth of its deposit base quickly, the heavy use of this funding source is not entirely without consequence.",
    "output": "[Cause] the heavy use of this funding source [Relation] cause [Effect] not entirely without consequence",
    "gold": "[Cause] While online deposits have allowed Capital One to increase the size and geographical breadth of its deposit base quickly, [Relation] prevent [Effect] the heavy use of this funding source is not entirely without consequence.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We surmise inventory levels will remain a key focus for management given that inventory clearance and stock-keeping unit creep of lower-productivity brands had a significant negative impact on Mattel's performance throughout 2014-18.",
    "output": "[Cause] inventory clearance and stock-keeping unit creep of lower-productivity brands had a significant negative impact on Mattel's performance throughout 2014-18 [Relation] cause [Effect] inventory levels will remain a key focus for management",
    "gold": "[Cause] inventory clearance and stock-keeping unit creep of lower-productivity brands had a significant negative impact on Mattel's performance throughout 2014-18 [Relation] cause [Effect] inventory levels will remain a key focus for management",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The combined store network and recent purchase of DieHard should help Advance lift private-label penetration (about 40% before the deal) while spreading distribution costs over a larger base.",
    "output": "[Cause] The combined store network and recent purchase of DieHard [Relation] enable [Effect] Advance lift private-label penetration (about 40% before the deal) while spreading distribution costs over a larger base",
    "gold": "[Cause] The combined store network | purchase of DieHard [Relation] cause [Effect] help Advance lift private-label penetration | spreading distribution costs over a larger base.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, Shell should add about 1 mmboe/d of new production to replace existing portfolio declines, primarily from offshore, where economics have improved materially, and LNG projects.",
    "output": "[Cause] offshore [Relation] cause [Effect] economics have improved materially, and LNG projects",
    "gold": "[Cause] offshore, where economics have improved materially, and LNG projects [Relation] enable [Effect] Shell should add about 1 mmboe/d of new production",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, Shell should add about 1 mmboe/d of new production to replace existing portfolio declines, primarily from offshore, where economics have improved materially, and LNG projects.",
    "output": "[Cause] LNG projects [Relation] cause [Effect] economics have improved materially",
    "gold": "[Cause] Shell should add about 1 mmboe/d of new production [Relation] enable [Effect]  replace existing portfolio declines",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Costs should deleverage somewhat in fiscal 2021 as growth normalizes (18.8% forecast adjusted operating margin versus 19.1% in the prior year), but adjusted operating margins should hold steady in the high-teens over our 10-year explicit forecast.",
    "output": "[Cause] growth normalizes (18.8% forecast adjusted operating margin versus 19.1% in the prior year) [Relation] cause [Effect] Costs should deleverage somewhat in fiscal 2021",
    "gold": "[Cause] growth normalizes (18.8% forecast adjusted operating margin versus 19.1% in the prior year) [Relation] enable [Effect] Costs should deleverage somewhat in fiscal 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Per our forecasts, the operating leverage associated with our expectations for improving shipment volume and the ramp-up of the highly efficient hot-rolling and processing facility will help Allegheny expand operating margins to a midcycle level of 11.5%.",
    "output": "[Cause] the ramp-up of the highly efficient hot-rolling and processing facility [Relation] enable [Effect] help Allegheny expand operating margins to a midcycle level of 11.5%",
    "gold": "[Cause] the ramp-up of the highly efficient hot-rolling and processing facility [Relation] cause [Effect] help Allegheny expand operating margins to a midcycle level of 11.5%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In terms of environmental, social, and governance risks, because CP carries freight for chemical and energy end-market shippers, it is subject to the liabilities associated with hazardous material spills.",
    "output": "[Cause] CP carries freight for chemical and energy end-market shippers [Relation] cause [Effect] it is subject to the liabilities associated with hazardous material spills",
    "gold": "[Cause]  CP carries freight for chemical and energy end-market shippers [Relation] enable [Effect] it is subject to the liabilities associated with hazardous material spills",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the stickiness of this consumer is helped by the company's access to more than 16,000 suppliers and 22 million products, offering the endless aisle to consumers who might be looking for something specific.",
    "output": "[Cause] the company's access to more than 16,000 suppliers and 22 million products [Relation] enable [Effect] offering the endless aisle to consumers who might be looking for something specific",
    "gold": "[Cause] the company's access to more than 16,000 suppliers and 22 million products [Relation] enable [Effect] the stickiness of this consumer",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The SABMiller acquisition has been difficult to swallow, with the leverage required to do the deal offputting to many investors, and the weak balance sheet would not usually lead to an Exemplary .",
    "output": "[Cause] the leverage required to do the deal offputting to many investors [Relation] cause [Effect] The SABMiller acquisition has been difficult to swallow",
    "gold": "[Cause] the leverage required to do the deal offputting to many investors [Relation] enable [Effect] The SABMiller acquisition has been difficult to swallow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fastly allows its customers' developers to write code for the edge servers, so if content on a website has a very short shelf-life the changes can be handled on the Fastly servers.",
    "output": "[Cause] Fastly allows its customers' developers to write code for the edge servers [Relation] cause [Effect] if content on a website has a very short shelf-life the changes can be handled on the Fastly servers",
    "gold": "[Cause] Fastly allows its customers' developers to write code for the edge servers [Relation] cause [Effect]  if content on a website has a very short shelf-life the changes can be handled on the Fastly servers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2017, Colfax took a roughly $150 million goodwill-impairment charge in the air and gas handling business due to continued weakness in the unit's end markets.",
    "output": "[Cause] continued weakness in the unit's end markets [Relation] cause [Effect] Colfax took a roughly $150 million goodwill-impairment charge in the air and gas handling business",
    "gold": "[Cause] continued weakness in the unit's end markets [Relation] cause [Effect] Colfax took a roughly $150 million goodwill-impairment charge in the air and gas handling business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that investors are mistakenly worried about underutilization of the Mainline pipeline system due to production cuts and the construction of competing pipeline expansions.",
    "output": "[Cause] production cuts and the construction of competing pipeline expansions [Relation] cause [Effect] investors are mistakenly worried about underutilization of the Mainline pipeline system",
    "gold": "[Cause] production cuts and the construction of competing pipeline expansions [Relation] cause [Effect]  investors are mistakenly worried about underutilization of the Mainline pipeline system",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While earnings credit rates can offset some of this benefit, we believe the ability to determine deposit pricing in the context of a complete business relationship does lead to cost advantages.",
    "output": "[Cause] earnings credit rates [Relation] prevent [Effect] some of this benefit",
    "gold": "[Cause] earnings credit rates [Relation] prevent [Effect] some of this benefit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While earnings credit rates can offset some of this benefit, we believe the ability to determine deposit pricing in the context of a complete business relationship does lead to cost advantages.",
    "output": "[Cause] earnings credit rates [Relation] prevent [Effect] some of this benefit",
    "gold": "[Cause] the ability to determine deposit pricing in the context of a complete business relationship [Relation] cause [Effect] cost advantages",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If the operators somehow change their preference for growth at all costs, then we could see KT's business increasing its returns ahead of our current expectations.",
    "output": "[Cause] the operators somehow change their preference for growth at all costs [Relation] cause [Effect] KT's business increasing its returns ahead of our current expectations",
    "gold": "[Cause] the operators somehow change their preference for growth at all costs [Relation] enable [Effect] KT's business increasing its returns ahead of our current expectations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If an economic downturn were to occur now, developed markets would not offer the same cushion as they did in 2009 because of more mature penetration and increased competition.",
    "output": "[Cause] more mature penetration and increased competition [Relation] cause [Effect] developed markets would not offer the same cushion as they did in 2009",
    "gold": "[Cause] more mature penetration and increased competition [Relation] cause [Effect] developed markets would not offer the same cushion as they did in 2009",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The addition of Covidien deepens Medtronic's competitive advantages, as Covidien's medical device segment enjoys brand recognition, technological innovation, and substantial scale.",
    "output": "[Cause] Covidien's medical device segment enjoys brand recognition, technological innovation, and substantial scale [Relation] cause [Effect] The addition of Covidien deepens Medtronic's competitive advantages",
    "gold": "[Cause]  Covidien's medical device segment enjoys brand recognition, technological innovation, and substantial scale [Relation] enable [Effect] The addition of Covidien deepens Medtronic's competitive advantages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sales of the brand fell 70% in the aftermath of the recall, and Danone wrote down the asset by EUR 398 million in 2015 and ultimately sold it for EUR 150 million.",
    "output": "[Cause] the recall [Relation] cause [Effect] Sales of the brand fell 70%",
    "gold": "[Cause]  the recall [Relation] cause [Effect] Sales of the brand fell 70%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sales of the brand fell 70% in the aftermath of the recall, and Danone wrote down the asset by EUR 398 million in 2015 and ultimately sold it for EUR 150 million.",
    "output": "[Cause] Danone wrote down the asset by EUR 398 million in 2015 [Relation] cause [Effect] sold it for EUR 150 million",
    "gold": "[Cause] Sales of the brand fell 70% [Relation] enable [Effect] Danone wrote down the asset by EUR 398 million in 2015",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Sales of the brand fell 70% in the aftermath of the recall, and Danone wrote down the asset by EUR 398 million in 2015 and ultimately sold it for EUR 150 million.",
    "output": "[Cause] Danone wrote down the asset by EUR 398 million in 2015 [Relation] cause [Effect] sold it for EUR 150 million",
    "gold": "[Cause] Danone wrote down the asset by EUR 398 million in 2015 [Relation] cause [Effect] sold it for EUR 150 million",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management has tried to right the ship recently, for example rearchitecting its supply chain to make all pod packaging recyclable.",
    "output": "[Cause] rearchitecting its supply chain [Relation] enable [Effect] make all pod packaging recyclable",
    "gold": "[Cause]  rearchitecting its supply chain [Relation] enable [Effect] make all pod packaging recyclable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the rising adoption of Internet services, with household penetration still below 50%, we believe bundled offerings will be important to winning and retaining customers.",
    "output": "[Cause] the rising adoption of Internet services, with household penetration still below 50% [Relation] cause [Effect] bundled offerings will be important to winning and retaining customers",
    "gold": "[Cause] bundled offerings [Relation] enable [Effect] winning and retaining customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "All of Arista's market segments should grow as hyperscale cloud provider networking trends are adopted by other businesses, in our view.",
    "output": "[Cause] hyperscale cloud provider networking trends are adopted by other businesses [Relation] cause [Effect] All of Arista's market segments should grow",
    "gold": "[Cause] hyperscale cloud provider networking trends are adopted by other businesses [Relation] cause [Effect] All of Arista's market segments should grow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Previous recessions invited consolidation, allowing remaining firms to continue growing, but we do not anticipate further consolidation to be possible.",
    "output": "[Cause] Previous recessions invited consolidation [Relation] enable [Effect] remaining firms to continue growing",
    "gold": "[Cause] Previous recessions invited consolidation [Relation] cause [Effect] we do not anticipate further consolidation to be possible",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In 2019, GeneSight experienced volume growth, but it encountered revenue decline, due to collateral impact from the discontinuation of two of its testing indications related to analgesic and ADHD.",
    "output": "[Cause] collateral impact from the discontinuation of two of its testing indications related to analgesic and ADHD [Relation] cause [Effect] it encountered revenue decline",
    "gold": "[Cause] collateral impact from the discontinuation of two of its testing indications related to analgesic and ADHD [Relation] cause [Effect] it encountered revenue decline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The ability to drive incremental volume to an average store is likely driven by the convenience oriented concept, helped by having best locations and regularly updated stores coupled with macro trends, including the preference of the aging population to purchase prescriptions at physical locations while de-emphasizing mail order pharmacy.",
    "output": "[Cause] having best locations and regularly updated stores coupled with macro trends [Relation] enable [Effect] The ability to drive incremental volume to an average store",
    "gold": "[Cause]  having best locations and regularly updated stores coupled with macro trends [Relation] enable [Effect] the convenience oriented concept",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "There have been instances when competitors have been able to bring new products to market more rapidly than McDonald's because of raw material procurement constraints, but we are hopeful that impressive speed-to-market for the all-day breakfast launch in the U.S.",
    "output": "[Cause] raw material procurement constraints [Relation] cause [Effect] competitors have been able to bring new products to market more rapidly than McDonald's",
    "gold": "[Cause] raw material procurement constraints [Relation] enable [Effect] competitors have been able to bring new products to market more rapidly than McDonald's",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Doctors often rely on medical device sales reps for their deep device knowledge as well as their experience with device usage in a wide range of patients. As a result, Medtronic's reps play the role of highly specialized experts who advise practitioners on implantation, programming, and maintenance of Medtronic devices and create sticky relationships with medical practitioners.",
    "output": "[Cause] Doctors often rely on medical device sales reps for their deep device knowledge as well as their experience with device usage in a wide range of patients [Relation] cause [Effect] Medtronic's reps play the role of highly specialized experts who advise practitioners on implantation, programming, and maintenance of Medtronic devices and create sticky relationships with medical practitioners",
    "gold": "[Cause] Doctors often rely on medical device sales reps for their deep device knowledge as well as their experience with device usage in a wide range of patients [Relation] cause [Effect] Medtronic's reps play the role of highly specialized experts who advise practitioners on implantation, programming, and maintenance of Medtronic devices and create sticky relationships with medical practitioners",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Coca-Cola's dominant share in most markets and the attendant production volumes allow it to attract hundreds of bottlers to its system on the premise that Coca-Cola's brand and trademark beverages will be able to generate enough volume to support their businesses.",
    "output": "[Cause] Coca-Cola's brand and trademark beverages will be able to generate enough volume to support their businesses [Relation] enable [Effect] Coca-Cola's dominant share in most markets and the attendant production volumes allow it to attract hundreds of bottlers to its system",
    "gold": "[Cause]  Coca-Cola's brand and trademark beverages will be able to generate enough volume to support their businesses [Relation] enable [Effect] Coca-Cola's dominant share in most markets and the attendant production volumes allow it to attract hundreds of bottlers to its system",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because the liquid could be anything from water to a dangerous chemical, choosing the different metals for the seal faces and understanding how they will interact with fluid running through the pump is critical to proper functioning of the seal.",
    "output": "[Cause] the liquid could be anything from water to a dangerous chemical [Relation] cause [Effect] choosing the different metals for the seal faces and understanding how they will interact with fluid running through the pump is critical to proper functioning of the seal",
    "gold": "[Cause] the liquid could be anything from water to a dangerous chemical [Relation] cause [Effect] choosing the different metals for the seal faces and understanding how they will interact with fluid running through the pump is critical to proper functioning of the seal",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For revenue, we believe developing economies will help accelerate Eaton's growth, particularly based on growing demand for upgrading power infrastructure, as well the growing trend toward industrial Internet of Things and automation.",
    "output": "[Cause] developing economies [Relation] enable [Effect] accelerate Eaton's growth",
    "gold": "[Cause]  developing economies [Relation] enable [Effect] accelerate Eaton's growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We don't deny that in-house R&amp;D is important just to keep up with printer tech, however, we think Xerox would do better by increasing its PARC headcount in order to cater to more enterprise commissions from the likes of Boeing, given the group's impressive track record.",
    "output": "[Cause] increasing its PARC headcount [Relation] enable [Effect] Xerox would do better",
    "gold": "[Cause]  increasing its PARC headcount [Relation] enable [Effect] Xerox would do better",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We don't deny that in-house R&amp;D is important just to keep up with printer tech, however, we think Xerox would do better by increasing its PARC headcount in order to cater to more enterprise commissions from the likes of Boeing, given the group's impressive track record.",
    "output": "[Cause] increasing its PARC headcount [Relation] enable [Effect] cater to more enterprise commissions from the likes of Boeing",
    "gold": "[Cause]  increasing its PARC headcount [Relation] enable [Effect]  cater to more enterprise commissions from the likes of Boeing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We don't deny that in-house R&amp;D is important just to keep up with printer tech, however, we think Xerox would do better by increasing its PARC headcount in order to cater to more enterprise commissions from the likes of Boeing, given the group's impressive track record.",
    "output": "[Cause] increasing its PARC headcount [Relation] enable [Effect] cater to more enterprise commissions from the likes of Boeing",
    "gold": "[Cause]  the group's impressive track record [Relation] cause [Effect] Xerox would do better",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, the company also has more room on its balance sheet to increase shareholder returns after it completed its targeted debt reduction.",
    "output": "[Cause] it completed its targeted debt reduction [Relation] cause [Effect] the company also has more room on its balance sheet to increase shareholder returns",
    "gold": "[Cause] it completed its targeted debt reduction [Relation] enable [Effect] the company also has more room on its balance sheet to increase shareholder returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Continuous investment in research and development ensures the competitiveness of its machinery as advancements in technology can improve efficiency of the machinery.",
    "output": "[Cause] advancements in technology can improve efficiency of the machinery [Relation] cause [Effect] Continuous investment in research and development ensures the competitiveness of its machinery",
    "gold": "[Cause] advancements in technology can improve efficiency of the machinery [Relation] cause [Effect] Continuous investment in research and development ensures the competitiveness of its machinery",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "An extended capital expansion cycle through the next several years means that companies will be unlikely to generate economic profits in excess of their costs of capital for quite some time.",
    "output": "[Cause] An extended capital expansion cycle through the next several years [Relation] cause [Effect] companies will be unlikely to generate economic profits in excess of their costs of capital for quite some time",
    "gold": "[Cause] An extended capital expansion cycle through the next several years [Relation] cause [Effect] companies will be unlikely to generate economic profits in excess of their costs of capital for quite some time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The COVID-19 pandemic has presented airlines with the sharpest demand shock in history, forcing airlines to reduce most of their capacity, and the aircraft that are still flying are flying at low load factors.",
    "output": "[Cause] The COVID-19 pandemic [Relation] cause [Effect] airlines with the sharpest demand shock in history",
    "gold": "[Cause] The COVID-19 pandemic has presented airlines with the sharpest demand shock in history [Relation] cause [Effect] forcing airlines to reduce most of their capacity, and the aircraft that are still flying are flying at low load factors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As we do not see the firm losing the right to renew this contract anytime soon, we believe Verisign can maintain its competitive positioning.",
    "output": "[Cause] we do not see the firm losing the right to renew this contract anytime soon [Relation] cause [Effect] Verisign can maintain its competitive positioning",
    "gold": "[Cause] we do not see the firm losing the right to renew this contract anytime soon [Relation] cause [Effect] Verisign can maintain its competitive positioning",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Likewise, Marvell's acquisition of Inphi presents opportunities in the data center space that now constitutes the largest end market for the combined business.",
    "output": "[Cause] Marvell's acquisition of Inphi [Relation] enable [Effect] opportunities in the data center space",
    "gold": "[Cause] Marvell's acquisition of Inphi [Relation] enable [Effect] opportunities in the data center space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, as enterprise HDDs represent an increasingly significant share of the product mix, Seagate's gross margins should remain in the high 20s through the end of our explicit forecast in 2025.",
    "output": "[Cause] enterprise HDDs represent an increasingly significant share of the product mix [Relation] cause [Effect] Seagate's gross margins should remain in the high 20s through the end of our explicit forecast in 2025",
    "gold": "[Cause] enterprise HDDs represent an increasingly significant share of the product mix [Relation] enable [Effect] Seagate's gross margins should remain in the high 20s through the end of our explicit forecast in 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It's possible that PNC will acquire some smaller acquisitions to strategically grow into new products or other niches, but we believe the risks here are low.",
    "output": "[Cause] PNC will acquire some smaller acquisitions [Relation] enable [Effect] strategically grow into new products or other niches",
    "gold": "[Cause] PNC will acquire some smaller acquisitions [Relation] enable [Effect] strategically grow into new products or other niches",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect the firm can avoid bringing assets back on a 1 for 1 basis as demand recovers in the quarters ahead, driving positive operating leverage.",
    "output": "[Cause] demand recovers in the quarters ahead [Relation] cause [Effect] the firm can avoid bringing assets back on a 1 for 1 basis",
    "gold": "[Cause]  demand recovers in the quarters ahead [Relation] enable [Effect] the firm can avoid bringing assets back on a 1 for 1 basis",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the acquisition of Charles River Development in 2018, State Street is emphasizing its integrated ''''''''front to back'''''''' offering (branded as State Street Alpha), which it believes will lead to stickier, high-revenue-generating customer relationships.",
    "output": "[Cause] State Street is emphasizing its integrated '''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''",
    "gold": "[Cause] State Street is emphasizing its integrated ''''''''front to back'''''''' offering (branded as State Street Alpha) [Relation] cause [Effect] stickier, high-revenue-generating customer relationships",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, optimal locations and store expansion has been a key source of growth for the brand, which is limited in nature before store cannibalization is introduced, especially as 97% of the U.K.",
    "output": "[Cause] optimal locations and store expansion [Relation] enable [Effect] growth for the brand",
    "gold": "[Cause] optimal locations and store expansion [Relation] enable [Effect] growth for the brand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The decline in the expected percentage of CET's earnings contribution in the future is due to Con Ed focusing investments on its regulated utilities and the Clean Energy business, and our assumption of the divestiture of Stagecoach and MVP.",
    "output": "[Cause] Con Ed focusing investments on its regulated utilities and the Clean Energy business, and our assumption of the divestiture of Stagecoach and MVP [Relation] cause [Effect] The decline in the expected percentage of CET's earnings contribution in the future",
    "gold": "[Cause] Con Ed focusing investments on its regulated utilities and the Clean Energy business, and our assumption of the divestiture of Stagecoach and MVP [Relation] cause [Effect] The decline in the expected percentage of CET's earnings contribution in the future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Carrier's proven engineering and technological expertise and service capabilities are key differentiators that have allowed the firm to build a large installed base of its commercial building systems and transportation refrigeration products, which has translated into leading market positions.",
    "output": "[Cause] Carrier's proven engineering and technological expertise and service capabilities [Relation] enable [Effect] the firm to build a large installed base of its commercial building systems and transportation refrigeration products, which has translated into leading market positions",
    "gold": "[Cause] Carrier's proven engineering and technological expertise and service capabilities [Relation] enable [Effect] the firm to build a large installed base of its commercial building systems and transportation refrigeration products, which has translated into leading market positions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A data breach may release substantial confidential information, which may in turn make it more difficult for the company to win new contracts.",
    "output": "[Cause] A data breach [Relation] cause [Effect] release substantial confidential information",
    "gold": "[Cause] A data breach [Relation] cause [Effect] release substantial confidential information | more difficult for the company to win new contracts",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The likely spin-offs of its marketing arm and its oil and gas pipelines will further boost its financial position, with the latter expected to reduce expenditure on developing its own pipelines.",
    "output": "[Cause] The likely spin-offs of its marketing arm and its oil and gas pipelines [Relation] enable [Effect] boost its financial position",
    "gold": "[Cause] The likely spin-offs of its marketing arm and its oil and gas pipelines [Relation] enable [Effect] boost its financial position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even so, Western and Seagate's competition with one another for volume prevents either from shipping enough drives to earn excess returns on its invested capital, in our view.",
    "output": "[Cause] Western and Seagate's competition with one another for volume [Relation] prevent [Effect] shipping enough drives to earn excess returns on its invested capital",
    "gold": "[Cause] Western and Seagate's competition with one another for volume [Relation] prevent [Effect] shipping enough drives to earn excess returns on its invested capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lilly's patent-protected drugs carry strong pricing power, which enables the firm to generate returns on invested capital in excess of its cost of capital.",
    "output": "[Cause] Lilly's patent-protected drugs carry strong pricing power [Relation] enable [Effect] the firm to generate returns on invested capital in excess of its cost of capital",
    "gold": "[Cause] Lilly's patent-protected drugs carry strong pricing power [Relation] enable [Effect] the firm to generate returns on invested capital in excess of its cost of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As we believe Lululemon's e-commerce will be permanently higher after the pandemic has passed, and as this is more profitable than its physical store sales, we have lifted our long-term operating margin estimate for the company by about 1 percentage point (to 26% by 2030 from 25% previously).",
    "output": "[Cause] we believe Lululemon's e-commerce will be permanently higher after the pandemic has passed, and as this is more profitable than its physical store sales [Relation] cause [Effect] we have lifted our long-term operating margin estimate for the company by about 1 percentage point (to 26% by 2030 from 25% previously)",
    "gold": "[Cause] we believe Lululemon's e-commerce will be permanently higher after the pandemic has passed, and as this is more profitable than its physical store sales [Relation] cause [Effect] we have lifted our long-term operating margin estimate for the company by about 1 percentage point (to 26% by 2030 from 25% previously)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In a factory, even just one robot or machine going down could halt production, or a faulty sensor could lead to misassembly of parts, resulting in wasted inputs.",
    "output": "[Cause] a faulty sensor [Relation] cause [Effect] misassembly of parts",
    "gold": "[Cause] one robot or machine going down [Relation] prevent [Effect]  production",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In a factory, even just one robot or machine going down could halt production, or a faulty sensor could lead to misassembly of parts, resulting in wasted inputs.",
    "output": "[Cause] a faulty sensor could lead to misassembly of parts [Relation] cause [Effect] wasted inputs",
    "gold": "[Cause]  a faulty senso [Relation] cause [Effect]  misassembly of parts",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In a factory, even just one robot or machine going down could halt production, or a faulty sensor could lead to misassembly of parts, resulting in wasted inputs.",
    "output": "[Cause] a faulty sensor [Relation] cause [Effect] misassembly of parts",
    "gold": "[Cause] a faulty sensor could lead to misassembly of parts [Relation] cause [Effect] wasted inputs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect revenue to decline in 2020, driven mostly by a lack of new wireless customers, but we project the adjusted EBITDA margin will expand by 100 basis points from 2019 due to relatively few sales of wireless devices, which drag down margins.",
    "output": "[Cause] relatively few sales of wireless devices, which drag down margins [Relation] cause [Effect] the adjusted EBITDA margin will expand by 100 basis points from 2019",
    "gold": "[Cause] driven mostly by a lack of new wireless customers | due to relatively few sales of wireless devices, which drag down margins. [Relation] enable [Effect] We expect revenue to decline in 2020 | we project the adjusted EBITDA margin will expand by 100 basis points from 2019",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe Amphenol, with its relatively decentralized structure focused on local management, has been able to build an ethos around responsibility and cost efficiency.",
    "output": "[Cause] its relatively decentralized structure focused on local management [Relation] enable [Effect] build an ethos around responsibility and cost efficiency",
    "gold": "[Cause] its relatively decentralized structure focused on local management [Relation] enable [Effect] build an ethos around responsibility and cost efficiency",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our uncertainty rating is high, as we incorporate the cyclical nature of the semiconductor industry, coupled with AMD's smaller scale.",
    "output": "[Cause] we incorporate the cyclical nature of the semiconductor industry, coupled with AMD's smaller scale [Relation] cause [Effect] Our uncertainty rating is high",
    "gold": "[Cause] we incorporate the cyclical nature of the semiconductor industry, coupled with AMD's smaller scale [Relation] cause [Effect] Our uncertainty rating is high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But top-line growth will be difficult to achieve absent pricing increases, given the ongoing industry shift, and policies in force growth has been meager in recent years.",
    "output": "[Cause] the ongoing industry shift [Relation] cause [Effect] top-line growth will be difficult to achieve absent pricing increases",
    "gold": "[Cause] the ongoing industry shift [Relation] cause [Effect] top-line growth will be difficult to achieve absent pricing increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But top-line growth will be difficult to achieve absent pricing increases, given the ongoing industry shift, and policies in force growth has been meager in recent years.",
    "output": "[Cause] the ongoing industry shift [Relation] cause [Effect] top-line growth will be difficult to achieve absent pricing increases",
    "gold": "[Cause] policies in force growth has been meager in recent years [Relation] cause [Effect] top-line growth will be difficult to achieve absent pricing increases",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Overall, institutional equities is an area that both large and small investment banks have been paring down because of reduced profitability expectations.",
    "output": "[Cause] reduced profitability expectations [Relation] cause [Effect] both large and small investment banks have been paring down",
    "gold": "[Cause] reduced profitability expectations [Relation] cause [Effect] both large and small investment banks have been paring down",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, product strength, market presence, and a strong sales push into areas outside of IT, will continue to drive robust growth.",
    "output": "[Cause] product strength, market presence, and a strong sales push into areas outside of IT [Relation] enable [Effect] robust growth",
    "gold": "[Cause] product strength, market presence, and a strong sales push into areas outside of IT [Relation] cause [Effect] robust growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, product strength, market presence, and a strong sales push into areas outside of IT, will continue to drive robust growth.",
    "output": "[Cause] product strength, market presence, and a strong sales push into areas outside of IT [Relation] enable [Effect] robust growth",
    "gold": "[Cause] product strength, market presence, and a strong sales push into areas outside of IT [Relation] enable [Effect] robust growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company paid $15.3 million to acquire Revere's proprietary database, which provides workstation users information on the entire supply chain of a company so that analysts can identify a company's biggest suppliers and customers.",
    "output": "[Cause] The company paid $15.3 million to acquire Revere's proprietary database [Relation] enable [Effect] provides workstation users information on the entire supply chain of a company",
    "gold": "[Cause]  provides workstation users information on the entire supply chain of a company [Relation] enable [Effect] analysts can identify a company's biggest suppliers and customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Illumina's genomic sequencing technology enjoys extensive citations in industry publications, and workflows are developing around its systems that need to be repeated consistently. Therefore, we think end users would need a significant reason to jump ship from Illumina's tools from a reproducibility and end user training perspective.",
    "output": "[Cause] Illumina's genomic sequencing technology enjoys extensive citations in industry publications, and workflows are developing around its systems that need to be repeated consistently [Relation] cause [Effect] end users would need a significant reason to jump ship from Illumina's tools from a reproducibility and end user training perspective",
    "gold": "[Cause] Illumina's genomic sequencing technology enjoys extensive citations in industry publications, and workflows are developing around its systems that need to be repeated consistently [Relation] cause [Effect] end users would need a significant reason to jump ship from Illumina's tools from a reproducibility and end user training perspective",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Echo is asset light and enjoys a variable-cost business model, but its adjusted EBIT margin (calculated off net revenue) contracted in 2020 due in part to more IT-related personnel, heavy IT infrastructure investment, and incentive comp.",
    "output": "[Cause] more IT-related personnel, heavy IT infrastructure investment, and incentive comp [Relation] cause [Effect] its adjusted EBIT margin (calculated off net revenue) contracted in 2020",
    "gold": "[Cause] more IT-related personnel, heavy IT infrastructure investment, and incentive comp [Relation] cause [Effect] its adjusted EBIT margin (calculated off net revenue) contracted in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The increase primarily from the stronger the near-term copper price forecasts which more than offset marginally weaker spot zinc and lead prices.",
    "output": "[Cause] The increase primarily from the stronger the near-term copper price forecasts [Relation] prevent [Effect] marginally weaker spot zinc and lead prices",
    "gold": "[Cause] The increase primarily from the stronger the near-term copper price forecasts [Relation] prevent [Effect] marginally weaker spot zinc and lead prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If clinical data is favorable and the drug is commercialized, this could both siphon off patients who otherwise would have considered LivaNova's implantable technology, and delay the flow of patients as more of them try out padsevonil first before moving onto more invasive therapies.",
    "output": "[Cause] clinical data is favorable and the drug is commercialized [Relation] cause [Effect] siphon off patients who otherwise would have considered LivaNova's implantable technology",
    "gold": "[Cause] clinical data is favorable and the drug is commercialized [Relation] enable [Effect] siphon off patients who otherwise would have considered LivaNova's implantable technology",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If clinical data is favorable and the drug is commercialized, this could both siphon off patients who otherwise would have considered LivaNova's implantable technology, and delay the flow of patients as more of them try out padsevonil first before moving onto more invasive therapies.",
    "output": "[Cause] clinical data is favorable and the drug is commercialized [Relation] cause [Effect] delay the flow of patients",
    "gold": "[Cause] more of them try out padsevonil first before moving onto more invasive therapies [Relation] cause [Effect] clinical data is favorable and the drug is commercialized, this could both siphon off patients who otherwise would have considered LivaNova's implantable technology, and delay the flow of patients",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We suspect it retains its bargaining power by not disclosing pricing and requiring hospitals to sign non-disclosure agreements regarding any pricing information, keeping confidential what was once common knowledge in the industry two decades ago.",
    "output": "[Cause] not disclosing pricing and requiring hospitals to sign non-disclosure agreements regarding any pricing information [Relation] cause [Effect] retains its bargaining power",
    "gold": "[Cause] We suspect it retains its bargaining power [Relation] cause [Effect]  requiring hospitals to sign non-disclosure agreements regarding any pricing information, keeping confidential what was once common knowledge in the industry two decades ago",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the maturity of the North American insurance market, we expect management to focus more on Asia and wealth management.",
    "output": "[Cause] the maturity of the North American insurance market [Relation] cause [Effect] management to focus more on Asia and wealth management",
    "gold": "[Cause] the maturity of the North American insurance market [Relation] cause [Effect] management to focus more on Asia and wealth management",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, we believe it is cheaper initially for companies to move workloads to the cloud, as there are less upfront costs and a lower bar to clear for maintenance and administration.",
    "output": "[Cause] there are less upfront costs and a lower bar to clear for maintenance and administration [Relation] cause [Effect] it is cheaper initially for companies to move workloads to the cloud",
    "gold": "[Cause] there are less upfront costs and a lower bar to clear for maintenance and administration [Relation] cause [Effect]  it is cheaper initially for companies to move workloads to the cloud",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, given the average winter in the 2020-21 season combined with reduced supply as competitor Cargill shut down the Avery Island mine, we see prices rising starting in fiscal 2022.",
    "output": "[Cause] the average winter in the 2020-21 season combined with reduced supply as competitor Cargill shut down the Avery Island mine [Relation] cause [Effect] prices rising starting in fiscal 2022",
    "gold": "[Cause] the average winter in the 2020-21 season combined with reduced supply as competitor Cargill shut down the Avery Island mine [Relation] cause [Effect] prices rising starting in fiscal 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We note that the coronary stent market seems to be the most stable when there are three competitors in the field--price declines on older products become more pronounced once there are four players in the game.",
    "output": "[Cause] there are three competitors in the field [Relation] cause [Effect] the coronary stent market seems to be the most stable",
    "gold": "[Cause]  there are three competitors in the field [Relation] enable [Effect] the coronary stent market seems to be the most stable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We note that the coronary stent market seems to be the most stable when there are three competitors in the field--price declines on older products become more pronounced once there are four players in the game.",
    "output": "[Cause] there are four players in the game [Relation] cause [Effect] price declines on older products become more pronounced",
    "gold": "[Cause] there are four players in the game [Relation] enable [Effect] price declines on older products become more pronounced",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Nice to report an average GAAP gross margin of 72% through 2030, with GAAP and non-GAAP gross margins expanding into the high 70s and low 80s, respectively, as the business scales up.",
    "output": "[Cause] the business scales up [Relation] cause [Effect] GAAP and non-GAAP gross margins expanding into the high 70s and low 80s, respectively",
    "gold": "[Cause] GAAP and non-GAAP gross margins expanding into the high 70s and low 80s, respectively [Relation] enable [Effect] Nice to report an average GAAP gross margin of 72% through 2030",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In healthcare, outpatient facilities typically enjoy much lower overhead costs than their hospital peers and can be reimbursed by payers at lower rates because of that fundamental cost advantage.",
    "output": "[Cause] outpatient facilities typically enjoy much lower overhead costs than their hospital peers and can be reimbursed by payers at lower rates [Relation] cause [Effect] fundamental cost advantage",
    "gold": "[Cause] outpatient facilities typically enjoy much lower overhead costs than their hospital peers [Relation] cause [Effect] can be reimbursed by payers at lower rates",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the greatest risk for Spotify is competition, as large firms like Apple, Google, and Amazon may undertake more aggressive strategies to grow listeners.",
    "output": "[Cause] large firms like Apple, Google, and Amazon may undertake more aggressive strategies to grow listeners [Relation] cause [Effect] the greatest risk for Spotify is competition",
    "gold": "[Cause] large firms like Apple, Google, and Amazon may undertake more aggressive strategies to grow listeners [Relation] cause [Effect] the greatest risk for Spotify is competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, we believe the firm will benefit from a lower expense ratio in its domestic operations over time as recent investments get leveraged, and we also expect international results will improve modestly as these operations scale and mature.",
    "output": "[Cause] recent investments get leveraged [Relation] cause [Effect] the firm will benefit from a lower expense ratio in its domestic operations over time",
    "gold": "[Cause]  recent investments get leveraged [Relation] cause [Effect] the firm will benefit from a lower expense ratio in its domestic operations over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, we believe the firm will benefit from a lower expense ratio in its domestic operations over time as recent investments get leveraged, and we also expect international results will improve modestly as these operations scale and mature.",
    "output": "[Cause] these operations scale and mature [Relation] cause [Effect] international results will improve modestly",
    "gold": "[Cause] these operations scale and mature [Relation] cause [Effect] international results will improve modestly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We employ an 11% cost of equity, reflecting high cyclicality and operating leverage with moderate financial leverage. This drives a 9.2% weighted average cost of capital, assuming a long-run 25/75 debt/equity split, appropriate for a major mining company such as BHP.",
    "output": "[Cause] We employ an 11% cost of equity, reflecting high cyclicality and operating leverage with moderate financial leverage [Relation] cause [Effect] drives a 9.2% weighted average cost of capital, assuming a long-run 25/75 debt/equity split, appropriate for a major mining company such as BHP",
    "gold": "[Cause] We employ an 11% cost of equity, reflecting high cyclicality and operating leverage with moderate financial leverage [Relation] cause [Effect] drives a 9.2% weighted average cost of capital, assuming a long-run 25/75 debt/equity split, appropriate for a major mining company such as BHP",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast a substantial drop in earnings and cash flow for the next two years as margins narrow due to a sharp drop in demand from the coronavirus pandemic.",
    "output": "[Cause] a sharp drop in demand from the coronavirus pandemic [Relation] cause [Effect] margins narrow",
    "gold": "[Cause] a substantial drop in earnings and cash flow for the next two years [Relation] enable [Effect] a sharp drop in demand from the coronavirus pandemic",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Lower crop prices forced farmers to pull back on new equipment purchases, causing CNH's agriculture revenue to fall approximately 16% on average from 2014-2016.",
    "output": "[Cause] Lower crop prices [Relation] cause [Effect] farmers to pull back on new equipment purchases",
    "gold": "[Cause] Lower crop prices [Relation] cause [Effect] farmers to pull back on new equipment purchases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Consistent with our larger body of research within the heavy equipment sector, end users are gaining a better appreciation of TCO. Therefore, Paccar's history of making superior products with a greater life span and concomitant 10% to 15% price premium over competing offerings aligns with larger trends in the equipment industry.",
    "output": "[Cause] Consistent with our larger body of research within the heavy equipment sector, end users are gaining a better appreciation of TCO [Relation] cause [Effect] Paccar's history of making superior products with a greater life span and concomitant 10% to 15% price premium over competing offerings aligns with larger trends in the equipment industry",
    "gold": "[Cause] Consistent with our larger body of research within the heavy equipment sector, end users are gaining a better appreciation of TCO [Relation] cause [Effect] Paccar's history of making superior products with a greater life span and concomitant 10% to 15% price premium over competing offerings aligns with larger trends in the equipment industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the prestige segment, after fiscal 2020's pandemic-driven 25% drop in organic sales, we expect organic sales will recover 1% and 12% in fiscals 2021 and 2022, respectively, as stores reopen.",
    "output": "[Cause] stores reopen [Relation] cause [Effect] organic sales will recover 1% and 12% in fiscals 2021 and 2022",
    "gold": "[Cause] stores reopen [Relation] enable [Effect] organic sales will recover 1% and 12% in fiscals 2021 and 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the prestige segment, after fiscal 2020's pandemic-driven 25% drop in organic sales, we expect organic sales will recover 1% and 12% in fiscals 2021 and 2022, respectively, as stores reopen.",
    "output": "[Cause] stores reopen [Relation] cause [Effect] organic sales will recover 1% and 12% in fiscals 2021 and 2022",
    "gold": "[Cause]  fiscal 2020's pandemic [Relation] cause [Effect] 25% drop in organic sales",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With its merger with Worldpay in 2019, FIS expanded into merchant acquiring, and the merchant segment, which contains these operations, makes about 30% of revenue.",
    "output": "[Cause] its merger with Worldpay in 2019 [Relation] enable [Effect] FIS expanded into merchant acquiring",
    "gold": "[Cause] its merger with Worldpay in 2019 [Relation] cause [Effect]  FIS expanded into merchant acquiring",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, while there are common elements (around 40%-50% of the categories at the two retailers overlap, with over 20% of stock-keeping units at Family Dollar sold for $1), the two chains' assortments differ, limiting leverage opportunities.",
    "output": "[Cause] the two chains' assortments differ [Relation] prevent [Effect] leverage opportunities",
    "gold": "[Cause] the two chains' assortments differ [Relation] prevent [Effect]  leverage opportunities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Many of the company's brands face secular headwinds, resulting in declining revenue or lost market share as consumer trends move away from its products.",
    "output": "[Cause] consumer trends move away from its products [Relation] cause [Effect] declining revenue or lost market share",
    "gold": "[Cause]  consumer trends move away from its products [Relation] cause [Effect]  declining revenue or lost market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that as a result of these cost advantages, Campbell maintains the ability to replicate competitive products and ultimately offer this fare to retailers at a lower cost.",
    "output": "[Cause] Campbell maintains the ability to replicate competitive products [Relation] cause [Effect] offer this fare to retailers at a lower cost",
    "gold": "[Cause]  Campbell maintains the ability to replicate competitive products and ultimately [Relation] enable [Effect]  this fare to retailers at a lower cost.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While near-tem Macau gaming demand continues to be materially affected by COVID-19, our forecast for annual mid-single-digit visitation growth over the next decade is supported by Chinese outbound travel, which we expect will average high-single-digit annual growth over the next 10 years.",
    "output": "[Cause] Chinese outbound travel [Relation] enable [Effect] our forecast for annual mid-single-digit visitation growth over the next decade",
    "gold": "[Cause] near-tem Macau gaming demand continues to be materially affected by COVID-19 [Relation] enable [Effect] our forecast for annual mid-single-digit visitation growth over the next decade is supported by Chinese outbound travel, which we expect will average high-single-digit annual growth over the next 10 years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Simply put, as individuals find relationships more easily, the firm needs to spend more to market to and acquire new customers, impacting the company's operating margins.",
    "output": "[Cause] individuals find relationships more easily [Relation] cause [Effect] the firm needs to spend more to market to and acquire new customers",
    "gold": "[Cause]  individuals find relationships more easily [Relation] cause [Effect] the firm needs to spend more to market to and acquire new customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Simply put, as individuals find relationships more easily, the firm needs to spend more to market to and acquire new customers, impacting the company's operating margins.",
    "output": "[Cause] individuals find relationships more easily [Relation] cause [Effect] the firm needs to spend more to market to and acquire new customers",
    "gold": "[Cause]  individuals find relationships more easily [Relation] prevent [Effect] the company's operating margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The strong returns on invested capital that the toy industry can generate will continue to attract competition, however, which will force Hasbro to continuously improve its business and innovate to maintain its leadership position, resulting in elevated development costs over time.",
    "output": "[Cause] The strong returns on invested capital that the toy industry can generate will continue to attract competition [Relation] cause [Effect] Hasbro to continuously improve its business and innovate to maintain its leadership position",
    "gold": "[Cause] The strong returns on invested capital [Relation] enable [Effect] attract competition",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The strong returns on invested capital that the toy industry can generate will continue to attract competition, however, which will force Hasbro to continuously improve its business and innovate to maintain its leadership position, resulting in elevated development costs over time.",
    "output": "[Cause] Hasbro to continuously improve its business and innovate to maintain its leadership position [Relation] cause [Effect] elevated development costs over time",
    "gold": "[Cause] The strong returns on invested capital that the toy industry can generate will continue to attract competition [Relation] enable [Effect] Hasbro to continuously improve its business and innovate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The strong returns on invested capital that the toy industry can generate will continue to attract competition, however, which will force Hasbro to continuously improve its business and innovate to maintain its leadership position, resulting in elevated development costs over time.",
    "output": "[Cause] Hasbro to continuously improve its business and innovate to maintain its leadership position [Relation] cause [Effect] elevated development costs over time",
    "gold": "[Cause] maintain its leadership position [Relation] cause [Effect] Hasbro to continuously improve its business and innovate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The strong returns on invested capital that the toy industry can generate will continue to attract competition, however, which will force Hasbro to continuously improve its business and innovate to maintain its leadership position, resulting in elevated development costs over time.",
    "output": "[Cause] Hasbro to continuously improve its business and innovate to maintain its leadership position [Relation] cause [Effect] elevated development costs over time",
    "gold": "[Cause] Hasbro to continuously improve its business and innovate to maintain its leadership position [Relation] enable [Effect] elevated development costs over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To be sure, the fallout from current low prices is also industry underinvestment that could ultimately result in a global shortage and much higher prices than our $60/bbl assumption.",
    "output": "[Cause] the fallout from current low prices is also industry underinvestment [Relation] cause [Effect] a global shortage and much higher prices than our $60/bbl assumption",
    "gold": "[Cause] the fallout from current low prices is also industry underinvestment [Relation] cause [Effect] a global shortage and much higher prices than our $60/bbl assumption",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have adjusted our 2020 earnings per share estimate, to a loss of around $8.77 per share (from a $8.50 loss prior) as the firm cedes its final quarter to COVID-19.",
    "output": "[Cause] the firm cedes its final quarter to COVID-19 [Relation] cause [Effect] We have adjusted our 2020 earnings per share estimate, to a loss of around $8.77 per share (from a $8.50 loss prior)",
    "gold": "[Cause] the firm cedes its final quarter to COVID-19 [Relation] cause [Effect] We have adjusted our 2020 earnings per share estimate, to a loss of around $8.77 per share (from a $8.50 loss prior)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the large G&K Services acquisition and the fact that additional deals are likely over the long run as the industry gradually consolidates, the risk of overpayment or integration complications will remain a factor.",
    "output": "[Cause] the large G&K Services acquisition and the fact that additional deals are likely over the long run as the industry gradually consolidates [Relation] cause [Effect] the risk of overpayment or integration complications will remain a factor",
    "gold": "[Cause] the large G&K Services acquisition and the fact that additional deals are likely over the long run as the industry gradually consolidates [Relation] cause [Effect] the risk of overpayment or integration complications will remain a factor",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After a sharp 10% decline in sales and 25% decline in adjusted EBIT last year, we assume a rebound in sales growth of 8.3% in 2021, primarily due to a recovery in the on-trade.",
    "output": "[Cause] a recovery in the on-trade [Relation] cause [Effect] a rebound in sales growth of 8.3% in 2021",
    "gold": "[Cause]  a recovery in the on-trade [Relation] cause [Effect] a rebound in sales growth of 8.3% in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For instance, if a company decides to replace Twilio's Flex contact center software (customer support use case) with a different vendor, there could be a disruption in call center services, impeding customer service capabilities.",
    "output": "[Cause] a company decides to replace Twilio's Flex contact center software (customer support use case) with a different vendor [Relation] cause [Effect] a disruption in call center services",
    "gold": "[Cause]  a company decides to replace Twilio's Flex contact center software (customer support use case) with a different vendor [Relation] cause [Effect]  a disruption in call center services",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We estimate Shell's capital spending per barrel will be nearly 60% lower in 2019-23 than it was in 2010-14, thanks to new project growth in the Gulf of Mexico and Brazil, where break-evens are below $45/bbl.",
    "output": "[Cause] new project growth in the Gulf of Mexico and Brazil, where break-evens are below $45/bbl [Relation] cause [Effect] Shell's capital spending per barrel will be nearly 60% lower in 2019-23 than it was in 2010-14",
    "gold": "[Cause] new project growth in the Gulf of Mexico and Brazil, where break-evens are below $45/bbl [Relation] cause [Effect] Shell's capital spending per barrel will be nearly 60% lower in 2019-23 than it was in 2010-14",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Marriott's high exposure to fee-based properties (96% of total rooms) reduces the operating income impact in a downturn, as fixed costs are much lower than with ownership-based properties.",
    "output": "[Cause] fixed costs are much lower than with ownership-based properties [Relation] cause [Effect] Marriott's high exposure to fee-based properties (96% of total rooms) reduces the operating income impact in a downturn",
    "gold": "[Cause] Marriott's high exposure to fee-based properties [Relation] cause [Effect] reduces the operating income impact in a downturn",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Marriott's high exposure to fee-based properties (96% of total rooms) reduces the operating income impact in a downturn, as fixed costs are much lower than with ownership-based properties.",
    "output": "[Cause] fixed costs are much lower than with ownership-based properties [Relation] cause [Effect] Marriott's high exposure to fee-based properties (96% of total rooms) reduces the operating income impact in a downturn",
    "gold": "[Cause]  fixed costs are much lower than with ownership-based properties [Relation] cause [Effect] Marriott's high exposure to fee-based properties (96% of total rooms) reduces the operating income impact in a downturn",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project the sensing solutions segment to grow at a 7.3% compound annual growth rate over our explicit forecast, as a sharp reduction in demand in 2020 is offset by secular tailwinds in the following years.",
    "output": "[Cause] a sharp reduction in demand in 2020 is offset by secular tailwinds in the following years [Relation] cause [Effect] the sensing solutions segment to grow at a 7.3% compound annual growth rate over our explicit forecast",
    "gold": "[Cause] a sharp reduction in demand in 2020 is offset by secular tailwinds in the following years [Relation] enable [Effect] the sensing solutions segment to grow at a 7.3% compound annual growth rate over our explicit forecast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By contrast, the fixed-line phone companies are typically incapable of increasing network speeds broadly across their networks without heavy investment to bring fiber closer to customers. As a result, large swaths of the phone network remain incapable of delivering the speeds beyond around 20 megabits/second, increasingly falling short of customer demand.",
    "output": "[Cause] the fixed-line phone companies are typically incapable of increasing network speeds broadly across their networks without heavy investment to bring fiber closer to customers [Relation] cause [Effect] large swaths of the phone network remain incapable of delivering the speeds beyond around 20 megabits/second, increasingly falling short of customer demand",
    "gold": "[Cause] the fixed-line phone companies are typically incapable of increasing network speeds broadly across their networks without heavy investment to bring fiber closer to customers [Relation] cause [Effect] large swaths of the phone network remain incapable of delivering the speeds beyond around 20 megabits/second, increasingly falling short of customer demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If larger clients require specialized implementation or integrations with existing software, Paycom might not win business, as the firm does not offer such services.",
    "output": "[Cause] the firm does not offer such services [Relation] cause [Effect] Paycom might not win business",
    "gold": "[Cause] larger clients require specialized implementation or integrations with existing software [Relation] cause [Effect] Paycom might not win business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the children and adolescent furniture space is niche and an abundance of local boutique competitors remain in regional markets, we think Williams-Sonoma's national scale allows for better supply-chain and consumer trend responsiveness.",
    "output": "[Cause] Williams-Sonoma's national scale [Relation] enable [Effect] better supply-chain and consumer trend responsiveness",
    "gold": "[Cause] Williams-Sonoma's national scale [Relation] enable [Effect] better supply-chain and consumer trend responsiveness",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These features are important in the print industry; a 2017 report by Quocirca revealed that 60% of organizations have had at least one data breach due to unsecured printing.",
    "output": "[Cause] unsecured printing [Relation] cause [Effect] 60% of organizations have had at least one data breach",
    "gold": "[Cause] unsecured printing [Relation] cause [Effect] 60% of organizations have had at least one data breach",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By focusing on the luxury auto market first, Tesla was able to create tremendous media publicity for the company that reaches beyond its customers.",
    "output": "[Cause] focusing on the luxury auto market first [Relation] enable [Effect] Tesla was able to create tremendous media publicity for the company that reaches beyond its customers",
    "gold": "[Cause]  focusing on the luxury auto market first [Relation] enable [Effect] Tesla was able to create tremendous media publicity for the company that reaches beyond its customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The key to MUFG's overall profitability remains its domestic franchise, which is mostly dependent upon the macroeconomic environment (level of interest rates, and intensity of loan demand) but also MUFG's ability to trim costs as it reconfigures operations for a more digitalized banking era.",
    "output": "[Cause] it reconfigures operations for a more digitalized banking era [Relation] cause [Effect] MUFG's ability to trim costs",
    "gold": "[Cause] mostly dependent upon the macroeconomic environment (level of interest rates, and intensity of loan demand) but also MUFG's ability to trim costs as it reconfigures operations for a more digitalized banking era [Relation] cause [Effect] The key to MUFG's overall profitability remains its domestic franchise",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, we believe pricing gains will be bound by the hesitancy of new cruisers over the next few years, as those potential customers could opt for more safely perceived land-based vacations given the recent media hype.",
    "output": "[Cause] those potential customers could opt for more safely perceived land-based vacations given the recent media hype [Relation] cause [Effect] pricing gains will be bound by the hesitancy of new cruisers over the next few years",
    "gold": "[Cause] recent media hyp [Relation] cause [Effect] potential customers could opt for more safely perceived land-based vacations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We contend that its large production volume, given its market-leading positions, allows the firm to leverage its fixed costs over a large revenue base, providing greater supply chain efficiency.",
    "output": "[Cause] its market-leading positions [Relation] enable [Effect] the firm to leverage its fixed costs over a large revenue base",
    "gold": "[Cause] its market-leading positions [Relation] cause [Effect] the firm to leverage its fixed costs over a large revenue base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We contend that its large production volume, given its market-leading positions, allows the firm to leverage its fixed costs over a large revenue base, providing greater supply chain efficiency.",
    "output": "[Cause] its market-leading positions [Relation] enable [Effect] the firm to leverage its fixed costs over a large revenue base",
    "gold": "[Cause] the firm to leverage its fixed costs over a large revenue base [Relation] enable [Effect] providing greater supply chain efficiency",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Based on the average volatility of cash flows from its diverse product portfolio in the animal health markets, we rate Zoetis' uncertainty as medium.",
    "output": "[Cause] the average volatility of cash flows from its diverse product portfolio in the animal health markets [Relation] cause [Effect] we rate Zoetis' uncertainty as medium",
    "gold": "[Cause]  the average volatility of cash flows from its diverse product portfolio in the animal health markets [Relation] enable [Effect] we rate Zoetis' uncertainty as medium",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If H&P is successful in implementing this contracting method and does indeed derive superior margins from its implementation, we expect competitors will quickly follow suit, and any potential excess returns will dissipate over time.",
    "output": "[Cause] H&P is successful in implementing this contracting method and does indeed derive superior margins from its implementation [Relation] cause [Effect] competitors will quickly follow suit, and any potential excess returns will dissipate over time",
    "gold": "[Cause] H&P is successful in implementing this contracting method and does indeed derive superior margins from its implementation [Relation] cause [Effect] competitors will quickly follow suit, and any potential excess returns will dissipate over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Though Silgan's hand may be forced, a sustained shift toward the production of plastic containers would lead to lower sustainable margins, given that the capital costs of bringing plastic production in-house are substantially lower than those for manufacturing metal containers and closures.",
    "output": "[Cause] the capital costs of bringing plastic production in-house are substantially lower than those for manufacturing metal containers and closures [Relation] cause [Effect] Though Silgan's hand may be forced, a sustained shift toward the production of plastic containers would lead to lower sustainable margins",
    "gold": "[Cause]  the capital costs of bringing plastic production in-house are substantially lower than those for manufacturing metal containers and closures [Relation] cause [Effect] Though Silgan's hand may be forced, a sustained shift toward the production of plastic containers would lead to lower sustainable margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In an economic downturn, the company would face demand headwinds that could be amplified by the expense deleverage inherent in the model during a cyclical downswing.",
    "output": "[Cause] the expense deleverage inherent in the model during a cyclical downswing [Relation] cause [Effect] the company would face demand headwinds",
    "gold": "[Cause] In an economic downturn [Relation] prevent [Effect]  the company would face demand headwinds that could be amplified by the expense deleverage inherent in the model during a cyclical downswing",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also expect its reproductive health franchise to experience some softness in the near term, as the ongoing pandemic has decreased newborn and prenatal testing across geographies.",
    "output": "[Cause] the ongoing pandemic has decreased newborn and prenatal testing across geographies [Relation] cause [Effect] its reproductive health franchise to experience some softness in the near term",
    "gold": "[Cause] the ongoing pandemic has decreased newborn and prenatal testing across geographies [Relation] cause [Effect]  its reproductive health franchise to experience some softness in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We increased our 2020 and 2021 EPS estimates by $0.03 after Dominion indicated in its 2020 third-quarter earnings conference call that the impact of COVID-19 has reduced operating income by about $0.05 per share, less than originally expected.",
    "output": "[Cause] the impact of COVID-19 [Relation] cause [Effect] reduced operating income by about $0.05 per share",
    "gold": "[Cause]  the impact of COVID-19 has reduced operating income by about $0.05 per share [Relation] cause [Effect] We increased our 2020 and 2021 EPS estimates by $0.03",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We have dialed up our assumptions for the Covance unit as pharma and biotech clients have begun to ramp up clinical trial activity in 2021, following the slowdown in 2020.",
    "output": "[Cause] pharma and biotech clients have begun to ramp up clinical trial activity in 2021, following the slowdown in 2020 [Relation] cause [Effect] dialed up our assumptions for the Covance unit",
    "gold": "[Cause]  dialed up our assumptions for the Covance unit [Relation] cause [Effect] pharma and biotech clients have begun to ramp up clinical trial activity in 2021, following the slowdown in 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Thus, in order to switch providers for staffing needs, a client would need to juggle many different contracts and likely receive inferior-quality employees or wait longer to meet their staffing needs.",
    "output": "[Cause] switch providers for staffing needs [Relation] cause [Effect] a client would need to juggle many different contracts",
    "gold": "[Cause] switch providers for staffing needs [Relation] cause [Effect] receive inferior-quality employees",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Thus, in order to switch providers for staffing needs, a client would need to juggle many different contracts and likely receive inferior-quality employees or wait longer to meet their staffing needs.",
    "output": "[Cause] switch providers for staffing needs [Relation] cause [Effect] receive inferior-quality employees or wait longer to meet their staffing needs",
    "gold": "[Cause] switch providers for staffing needs [Relation] cause [Effect] juggle many different contracts",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We stilll like the acquisition of Vertafore, as we think it exhibits strong switching costs given that it's a niche ERP system for the diffcult-to-navigate P&C insurance market.",
    "output": "[Cause] it exhibits strong switching costs [Relation] cause [Effect] We stilll like the acquisition of Vertafore",
    "gold": "[Cause] it's a niche ERP system for the diffcult-to-navigate P&C insurance market [Relation] enable [Effect] it exhibits strong switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We stilll like the acquisition of Vertafore, as we think it exhibits strong switching costs given that it's a niche ERP system for the diffcult-to-navigate P&C insurance market.",
    "output": "[Cause] it exhibits strong switching costs [Relation] cause [Effect] We stilll like the acquisition of Vertafore",
    "gold": "[Cause] it exhibits strong switching costs [Relation] cause [Effect] We stilll like the acquisition of Vertafore",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We don't see significant opportunities to enhance profitability, especially since we see the increasing power of hyperscale tenants squeezing pricing.",
    "output": "[Cause] we see the increasing power of hyperscale tenants squeezing pricing [Relation] cause [Effect] We don't see significant opportunities to enhance profitability",
    "gold": "[Cause] we see the increasing power of hyperscale tenants squeezing pricing [Relation] cause [Effect] We don't see significant opportunities to enhance profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, more Google apps such as Maps, Gmail, and Google Play are used by consumers on Android-powered devices, further driving ad and other revenue growth.",
    "output": "[Cause] more Google apps such as Maps, Gmail, and Google Play are used by consumers on Android-powered devices [Relation] enable [Effect] further driving ad and other revenue growth",
    "gold": "[Cause] more Google apps such as Maps, Gmail, and Google Play are used by consumers on Android-powered devices [Relation] cause [Effect] further driving ad and other revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our discussions with Yum China management reinforce our views regarding the sophistication of Yum China's site-selection process, including state-of-the-art mapping tools and more-flexible go-to-market restaurant and drive-thru buildout strategies in the region, which should facilitate the company's unit expansion opportunities in the region.",
    "output": "[Cause] Our discussions with Yum China management [Relation] enable [Effect] our views regarding the sophistication of Yum China's site-selection process",
    "gold": "[Cause] Our discussions with Yum China management [Relation] cause [Effect] our views regarding the sophistication of Yum China's site-selection process",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our discussions with Yum China management reinforce our views regarding the sophistication of Yum China's site-selection process, including state-of-the-art mapping tools and more-flexible go-to-market restaurant and drive-thru buildout strategies in the region, which should facilitate the company's unit expansion opportunities in the region.",
    "output": "[Cause] the sophistication of Yum China's site-selection process [Relation] enable [Effect] the company's unit expansion opportunities in the region",
    "gold": "[Cause] more-flexible go-to-market restaurant [Relation] cause [Effect]  the sophistication of Yum China's site-selection process",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our discussions with Yum China management reinforce our views regarding the sophistication of Yum China's site-selection process, including state-of-the-art mapping tools and more-flexible go-to-market restaurant and drive-thru buildout strategies in the region, which should facilitate the company's unit expansion opportunities in the region.",
    "output": "[Cause] the sophistication of Yum China's site-selection process [Relation] enable [Effect] the company's unit expansion opportunities in the region",
    "gold": "[Cause] drive-thru buildout strategies in the region [Relation] cause [Effect]  the sophistication of Yum China's site-selection process",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Revenue seemed to have stabilised as well, although the current coronavirus pandemic is likely to lead to substantial top line volatility for Deutsche.",
    "output": "[Cause] the current coronavirus pandemic [Relation] cause [Effect] substantial top line volatility for Deutsche",
    "gold": "[Cause] the current coronavirus pandemic [Relation] cause [Effect] substantial top line volatility for Deutsche",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Federal has been successful in developing new mixed-use assets that feature multifamily buildings inside a large shopping center complex. This provides residents grocery stores, luxury shopping, a range of restaurants, fitness centers, movie theaters, and other tenants to serve a range of needs.",
    "output": "[Cause] Federal has been successful in developing new mixed-use assets that feature multifamily buildings inside a large shopping center complex [Relation] enable [Effect] provides residents grocery stores, luxury shopping, a range of restaurants, fitness centers, movie theaters, and other tenants to serve a range of needs",
    "gold": "[Cause] Federal has been successful in developing new mixed-use assets that feature multifamily buildings inside a large shopping center complex [Relation] enable [Effect]  provides residents grocery stores, luxury shopping, a range of restaurants, fitness centers, movie theaters, and other tenants to serve a range of needs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On profitability, we expect IBM's gross margins to gradually increase from 48% in 2020 to near 50% in 2025 as customers switch over to SaaS subscriptions.",
    "output": "[Cause] customers switch over to SaaS subscriptions [Relation] cause [Effect] IBM's gross margins to gradually increase from 48% in 2020 to near 50% in 2025",
    "gold": "[Cause] On profitability [Relation] enable [Effect]  IBM's gross margins to gradually increase from 48% in 2020 to near 50% in 2025 as customers switch over to SaaS subscriptions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, while the margin structure may ultimately be lower in Digital Experience relative to Creative Cloud, the company has worked to improve margins over time, and we believe Adobe must continue to drive down costs and expand margins to meet investor expectations.",
    "output": "[Cause] Adobe must continue to drive down costs and expand margins [Relation] enable [Effect] meet investor expectations",
    "gold": "[Cause]  Adobe must continue to drive down costs and expand margins [Relation] enable [Effect] meet investor expectations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Free cash flow should be less volatile going forward and more closely matched to accounting profits as the industry moves away from large advance payments.",
    "output": "[Cause] the industry moves away from large advance payments [Relation] cause [Effect] Free cash flow should be less volatile going forward and more closely matched to accounting profits",
    "gold": "[Cause] the industry moves away from large advance payments [Relation] enable [Effect] Free cash flow should be less volatile going forward and more closely matched to accounting profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sales representatives use mobile vans to deliver replacement tools and to show technicians their tool inventory for purchase right off the truck at the technician's workplace.",
    "output": "[Cause] Sales representatives use mobile vans to deliver replacement tools and to show technicians their tool inventory [Relation] enable [Effect] purchase right off the truck at the technician's workplace",
    "gold": "[Cause] Sales representatives use mobile vans to deliver replacement tools and to show technicians their tool inventory [Relation] enable [Effect] purchase right off the truck at the technician's workplace",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The Americas business has been the key driver of Allegion's stable, industry-leading profitability, which is a testament to the firm's market position and pricing power.",
    "output": "[Cause] The Americas business has been the key driver of Allegion's stable, industry-leading profitability [Relation] enable [Effect] a testament to the firm's market position and pricing power",
    "gold": "[Cause] The Americas business [Relation] enable [Effect] Allegion's stable, industry-leading profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also see governance risk from Teleflex's acquisition-heavy strategy, which we argue has likely been value-dilutive to shareholders over the past decade, given the impact large business purchases have had on return on invested capital.",
    "output": "[Cause] the impact large business purchases have had on return on invested capital [Relation] cause [Effect] governance risk from Teleflex's acquisition-heavy strategy, which we argue has likely been value-dilutive to shareholders over the past decade",
    "gold": "[Cause]  the impact large business purchases have had on return on invested capital [Relation] cause [Effect] We also see governance risk from Teleflex's acquisition-heavy strategy",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Orthopedic surgeons tend to be reluctant to switch vendors, as tools and implants used for surgery can vary significantly depending on the provider, which would lead to a steep learning curve to switch to a competitor's offerings.",
    "output": "[Cause] tools and implants used for surgery can vary significantly depending on the provider [Relation] cause [Effect] Orthopedic surgeons tend to be reluctant to switch vendors",
    "gold": "[Cause] tools and implants used for surgery can vary significantly depending on the provider [Relation] prevent [Effect] steep learning curve to switch to a competitor's offerings",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Orthopedic surgeons tend to be reluctant to switch vendors, as tools and implants used for surgery can vary significantly depending on the provider, which would lead to a steep learning curve to switch to a competitor's offerings.",
    "output": "[Cause] tools and implants used for surgery can vary significantly depending on the provider [Relation] cause [Effect] Orthopedic surgeons tend to be reluctant to switch vendors",
    "gold": "[Cause] tools and implants used for surgery can vary significantly depending on the provider [Relation] cause [Effect] Orthopedic surgeons tend to be reluctant to switch vendors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Hence, if a player decides to increase prices significantly, it is possible that its customers could switch to a competitor with a lower-priced, similar offering. As a result, Cadence cannot enjoy significant pricing power over its customers, especially as the average contract length (three years) roughly coincides with the length of the node development process.",
    "output": "[Cause] if a player decides to increase prices significantly, it is possible that its customers could switch to a competitor with a lower-priced, similar offering [Relation] cause [Effect] Cadence cannot enjoy significant pricing power over its customers, especially as the average contract length (three years) roughly coincides with the length of the node development process",
    "gold": "[Cause] if a player decides to increase prices significantly, it is possible that its customers could switch to a competitor with a lower-priced, similar offering [Relation] cause [Effect] Cadence cannot enjoy significant pricing power over its customers, especially as the average contract length (three years) roughly coincides with the length of the node development process",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Specifically, during bouts of oversupply in the memory space, the market would often find itself in a race to the bottom as lower-tier memory chipmakers would struggle financially and larger players could purchase equipment and fab space at attractive prices (Micron buying Inotera in 2015, for example).",
    "output": "[Cause] lower-tier memory chipmakers would struggle financially and larger players could purchase equipment and fab space at attractive prices [Relation] cause [Effect] the market would often find itself in a race to the bottom",
    "gold": "[Cause] the bottom as lower-tier memory chipmakers [Relation] cause [Effect] oversupply in the memory space",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After adjusting our model for first-quarter results, we increaed our fair value estimate to $207 per share from $198 as we adjust our midcycle operating margin upward to reflect increased cost synergies.",
    "output": "[Cause] we adjust our midcycle operating margin upward to reflect increased cost synergies [Relation] cause [Effect] we increaed our fair value estimate to $207 per share from $198",
    "gold": "[Cause] we adjust our midcycle operating margin upward to reflect increased cost synergies [Relation] cause [Effect] we increaed our fair value estimate to $207 per share from $198",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From an environmental, social, and governance perspective, we are mindful of longer-term lower refined product demand as we expect gasoline demand to decline in the years ahead with the growth in electric vehicles.",
    "output": "[Cause] gasoline demand to decline in the years ahead with the growth in electric vehicles [Relation] cause [Effect] we are mindful of longer-term lower refined product demand",
    "gold": "[Cause] gasoline demand to decline in the years ahead with the growth in electric vehicles [Relation] cause [Effect]  we are mindful of longer-term lower refined product demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that net interest margins will be under pressure for years, as the latest round of rate cuts plays out in 2020 and 2021 and then rates stay low for years.",
    "output": "[Cause] the latest round of rate cuts plays out in 2020 and 2021 and then rates stay low for years [Relation] cause [Effect] net interest margins will be under pressure for years",
    "gold": "[Cause] the latest round of rate cuts plays out in 2020 and 2021 and then rates stay low for years [Relation] cause [Effect] net interest margins will be under pressure for years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Specialty margins are also more than twice as high as commodity margins, as Ingredion commands more favorable pricing power for its specialty products.",
    "output": "[Cause] Ingredion commands more favorable pricing power for its specialty products [Relation] cause [Effect] Specialty margins are also more than twice as high as commodity margins",
    "gold": "[Cause] Ingredion commands more favorable pricing power for its specialty products [Relation] cause [Effect] Specialty margins are also more than twice as high as commodity margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There is some tenuous evidence of such an exodus emerging due to the coronavirus crisis, with some high profile tech firms shifting their presence to lower-cost regions across.",
    "output": "[Cause] the coronavirus crisis [Relation] cause [Effect] There is some tenuous evidence of such an exodus emerging",
    "gold": "[Cause] the coronavirus crisis [Relation] cause [Effect] some high profile tech firms shifting their presence to lower-cost regions across",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, it is investing to improve its emissions intensity and reduce upstream methane emissions by 45% by 2025 compared with 2010.",
    "output": "[Cause] it is investing to improve its emissions intensity and reduce upstream methane emissions by 45% by 2025 compared with 2010 [Relation] enable [Effect] improve its emissions intensity and reduce upstream methane emissions by 45% by 2025",
    "gold": "[Cause]  improve its emissions intensity and reduce upstream methane emissions by 45% by 2025 compared with 2010 [Relation] enable [Effect] investing",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, admittedly, the second 10-year period carries significant uncertainty for both Tesla and the broader automotive industry given the rapid advancement of autonomous vehicle technologies that could transform how consumers use vehicles.",
    "output": "[Cause] the rapid advancement of autonomous vehicle technologies [Relation] cause [Effect] transform how consumers use vehicles",
    "gold": "[Cause]  the rapid advancement of autonomous vehicle technologies [Relation] cause [Effect] transform how consumers use vehicles",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, admittedly, the second 10-year period carries significant uncertainty for both Tesla and the broader automotive industry given the rapid advancement of autonomous vehicle technologies that could transform how consumers use vehicles.",
    "output": "[Cause] the rapid advancement of autonomous vehicle technologies [Relation] cause [Effect] transform how consumers use vehicles",
    "gold": "[Cause] the rapid advancement of autonomous vehicle technologies [Relation] cause [Effect] the second 10-year period carries significant uncertainty for both Tesla and the broader automotive industry",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Caterpillar's strategy to launch new offerings focused on customer needs by segment has led to the development of high-quality products customers value, strengthening its brand and competitive positioning.",
    "output": "[Cause] Caterpillar's strategy to launch new offerings focused on customer needs by segment [Relation] cause [Effect] the development of high-quality products customers value",
    "gold": "[Cause] Caterpillar's strategy to launch new offerings focused on customer needs by segment [Relation] cause [Effect]  the development of high-quality products customers value",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Caterpillar's strategy to launch new offerings focused on customer needs by segment has led to the development of high-quality products customers value, strengthening its brand and competitive positioning.",
    "output": "[Cause] the development of high-quality products customers value [Relation] enable [Effect] strengthening its brand and competitive positioning",
    "gold": "[Cause]  the development of high-quality products customers value [Relation] cause [Effect] strengthening its brand and competitive positioning",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Disrupting the design process by replacing/eliminating these tools would have an adverse impact on business operations and slow down the pace of innovation.",
    "output": "[Cause] Disrupting the design process [Relation] cause [Effect] slow down the pace of innovation",
    "gold": "[Cause]  replacing/eliminating these tools [Relation] enable [Effect] Disrupting the design process",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If we increase Zurich's 2019 North America workers' comp claims by 60 percentage points, this represents close to a 120% ultimate loss ratio and $1.275 billion increase in ultimate losses.",
    "output": "[Cause] increase Zurich's 2019 North America workers' comp claims by 60 percentage points [Relation] cause [Effect] close to a 120% ultimate loss ratio and $1.275 billion increase in ultimate losses",
    "gold": "[Cause] increase Zurich's 2019 North America workers' comp claims by 60 percentage points [Relation] cause [Effect] close to a 120% ultimate loss ratio and $1.275 billion increase in ultimate losses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project that such costs will keep Snap in the red in the near-term, but ongoing revenue growth and gross margin expansion, will lead to operating leverage and help Snap become profitable in 2022, with further expansion thereafter.",
    "output": "[Cause] ongoing revenue growth and gross margin expansion [Relation] cause [Effect] operating leverage and help Snap become profitable in 2022, with further expansion thereafter",
    "gold": "[Cause] ongoing revenue growth and gross margin expansion [Relation] cause [Effect] operating leverage and help Snap become profitable in 2022, with further expansion thereafter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Still, we think there is a low probability that any one player will dominate online distribution, given the market power of the big brands and their reluctance to depend on a single party for online distribution.",
    "output": "[Cause] the market power of the big brands and their reluctance to depend on a single party for online distribution [Relation] cause [Effect] there is a low probability that any one player will dominate online distribution",
    "gold": "[Cause] the market power of the big brands and their reluctance to depend on a single party for online distribution [Relation] cause [Effect] there is a low probability that any one player will dominate online distribution",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2011, for example, the company lost a large fee-for-service contract packaging customer, which contributed to a year-over-year sales decline in the packaging services segment in the first quarter of 2012.",
    "output": "[Cause] the company lost a large fee-for-service contract packaging customer [Relation] cause [Effect] a year-over-year sales decline in the packaging services segment in the first quarter of 2012",
    "gold": "[Cause] the company lost a large fee-for-service contract packaging customer [Relation] cause [Effect]  a year-over-year sales decline in the packaging services segment in the first quarter of 2012",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect approximately 7% revenue growth for PerkinElmer through 2024, driven mostly by the enhanced mix shift in diagnostics and life sciences.",
    "output": "[Cause] the enhanced mix shift in diagnostics and life sciences [Relation] cause [Effect] approximately 7% revenue growth for PerkinElmer through 2024",
    "gold": "[Cause] the enhanced mix shift in diagnostics and life sciences [Relation] cause [Effect] approximately 7% revenue growth for PerkinElmer through 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A downturn in the economy would slow overall growth, as Mastercard's revenue is sensitive to the volume and dollar amount of consumer transactions.",
    "output": "[Cause] Mastercard's revenue is sensitive to the volume and dollar amount of consumer transactions [Relation] cause [Effect] A downturn in the economy would slow overall growth",
    "gold": "[Cause] Mastercard's revenue is sensitive to the volume and dollar amount of consumer transactions [Relation] cause [Effect] A downturn in the economy would slow overall growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Growth may slow in fiscal 2023 on tough comparisons and a potential downshift in consumer goods spending, but we don't expect a material pullback.",
    "output": "[Cause] tough comparisons and a potential downshift in consumer goods spending [Relation] cause [Effect] Growth may slow in fiscal 2023",
    "gold": "[Cause] tough comparisons and a potential downshift in consumer goods spending [Relation] cause [Effect] Growth may slow in fiscal 2023",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a midteens percentage of GDP and nearly 10% of jobs coming from natural-resource-related sectors, any demand side shock or drastic decline in commodity prices could be a large negative.",
    "output": "[Cause] a midteens percentage of GDP and nearly 10% of jobs coming from natural-resource-related sectors [Relation] cause [Effect] any demand side shock or drastic decline in commodity prices could be a large negative",
    "gold": "[Cause] a midteens percentage of GDP and nearly 10% of jobs coming from natural-resource-related sectors [Relation] cause [Effect] any demand side shock or drastic decline in commodity prices could be a large negative",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Often these inquiries are from individual repair shop customers who are time-pressed to complete a job that may be stalled by lack of a single part.",
    "output": "[Cause] lack of a single part [Relation] cause [Effect] a job that may be stalled",
    "gold": "[Cause] lack of a single part [Relation] cause [Effect] a job that may be stalled",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Baker's Latin American margins fell to less than 3% in 2013, owing greatly to Brazilian falling well below expectations as well as falling pricing.",
    "output": "[Cause] Brazilian falling well below expectations as well as falling pricing [Relation] cause [Effect] Baker's Latin American margins fell to less than 3% in 2013",
    "gold": "[Cause] Brazilian falling well below expectations as well as falling pricing [Relation] cause [Effect] Baker's Latin American margins fell to less than 3% in 2013",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect pent-up replacement demand in the agriculture and turf business to spur sales growth to nearly 8% on average over the next five years.",
    "output": "[Cause] pent-up replacement demand in the agriculture and turf business [Relation] enable [Effect] spur sales growth to nearly 8% on average over the next five years",
    "gold": "[Cause] pent-up replacement demand in the agriculture and turf business [Relation] cause [Effect] spur sales growth to nearly 8% on average over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Merger synergies should fuel Keurig Dr Pepper's strategic initiatives, with management targeting $600 million in cost savings (5%-6% of sales) by 2021 through consolidated distribution, procurement leverage, and administrative streamlining.",
    "output": "[Cause] Merger synergies [Relation] enable [Effect] fuel Keurig Dr Pepper's strategic initiatives",
    "gold": "[Cause]  consolidated distribution, procurement leverage, and administrative streamlining [Relation] enable [Effect] cost savings",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "First, as with other point-of-care diagnostics, Dexcom generally faces low switching costs, as patients can fairly easily swap out one CGM for another.",
    "output": "[Cause] patients can fairly easily swap out one CGM for another [Relation] cause [Effect] Dexcom generally faces low switching costs",
    "gold": "[Cause] patients can fairly easily swap out one CGM for another [Relation] cause [Effect] Dexcom generally faces low switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the industrial segment will fuel operating margin expansion, as the firm's footprint consolidation initiatives in this sector help expand its adjusted operating margin from 16% in fiscal 2019 before the COVID-19 pandemic (14% in fiscal 2020 during the pandemic) to 18% at the end of our forecast.",
    "output": "[Cause] the firm's footprint consolidation initiatives in this sector help expand its adjusted operating margin from 16% in fiscal 2019 before the COVID-19 pandemic (14% in fiscal 2020 during the pandemic) to 18% at the end of our forecast [Relation] cause [Effect] the industrial segment will fuel operating margin expansion",
    "gold": "[Cause]  the firm's footprint consolidation initiatives in this sector [Relation] enable [Effect] expand its adjusted operating margin from 16% in fiscal 2019 before the COVID-19 pandemic (14% in fiscal 2020 during the pandemic) to 18% at the end of our forecas",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, the industrial segment will fuel operating margin expansion, as the firm's footprint consolidation initiatives in this sector help expand its adjusted operating margin from 16% in fiscal 2019 before the COVID-19 pandemic (14% in fiscal 2020 during the pandemic) to 18% at the end of our forecast.",
    "output": "[Cause] the firm's footprint consolidation initiatives in this sector [Relation] enable [Effect] expand its adjusted operating margin from 16% in fiscal 2019 before the COVID-19 pandemic (14% in fiscal 2020 during the pandemic) to 18% at the end of our forecast",
    "gold": "[Cause]  the firm's footprint consolidation initiatives in this sector help expand its adjusted operating margin from 16% in fiscal 2019 before the COVID-19 pandemic (14% in fiscal 2020 during the pandemic) to 18% at the end of our forecast [Relation] cause [Effect]  the industrial segment will fuel operating margin expansion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition to the leased network--which results in relatively low capital spending needs--and lack of a metro footprint, GTT distinguishes itself from its bigger competitors by focusing exclusively on large entities with global interconnection needs that a single carrier's network is unlikely to meet.",
    "output": "[Cause] focusing exclusively on large entities with global interconnection needs that a single carrier's network is unlikely to meet [Relation] enable [Effect] GTT distinguishes itself from its bigger competitors",
    "gold": "[Cause] In addition to the leased network--which results in relatively low capital spending needs--and lack of a metro footprint | focusing exclusively on large entities with global interconnection needs that a single carrier's network is unlikely to meet [Relation] enable [Effect] GTT distinguishes itself from its bigger competitors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect connected data centers to become even more important with growing reliance on multiple cloud providers and greater demand for Internet of Things and artificial intelligence functions.",
    "output": "[Cause] growing reliance on multiple cloud providers and greater demand for Internet of Things and artificial intelligence functions [Relation] cause [Effect] connected data centers to become even more important",
    "gold": "[Cause] growing reliance on multiple cloud providers and greater demand for Internet of Things and artificial intelligence functions [Relation] cause [Effect] connected data centers to become even more important",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, OEMs and Tier 1 suppliers into the aforementioned mission-critical systems are extremely risk-averse when selecting suppliers, as the cost of system failure can result in human injury, death, or at the very least significant productivity disruption and reputational damage.",
    "output": "[Cause] the cost of system failure can result in human injury, death, or at the very least significant productivity disruption and reputational damage [Relation] cause [Effect] OEMs and Tier 1 suppliers into the aforementioned mission-critical systems are extremely risk-averse when selecting suppliers",
    "gold": "[Cause]  the cost of system failure can result in human injury, death, or at the very least significant productivity disruption and reputational damage [Relation] enable [Effect] OEMs and Tier 1 suppliers into the aforementioned mission-critical systems are extremely risk-averse when selecting suppliers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that the development of the Columbia-class submarine and a large backlog ought to allow Huntington Ingalls to continue growing despite a slowing budgetary environment.",
    "output": "[Cause] the development of the Columbia-class submarine and a large backlog [Relation] enable [Effect] Huntington Ingalls to continue growing",
    "gold": "[Cause]  the development of the Columbia-class submarine and a large backlog [Relation] enable [Effect] Huntington Ingalls to continue growing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This is bolstered by Community Intelligence, which powers AI-driven insights into spending habits--as business spend within Coupa's platform grows, the value derived by businesses from Coupa's AI grows as well.",
    "output": "[Cause] business spend within Coupa's platform grows, the value derived by businesses from Coupa's AI grows as well [Relation] enable [Effect] This is bolstered by Community Intelligence, which powers AI-driven insights into spending habits",
    "gold": "[Cause] business spend within Coupa's platform grows [Relation] enable [Effect]  the value derived by businesses from Coupa's AI grows as well",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In 2019, all other offered the highest ROIC (23.1%) but the lowest operating margin (9.3%) compared with Cintas' other segments, meaning the business can offer profitably without the need for large commitments of capital.",
    "output": "[Cause] all other offered the highest ROIC (23.1%) but the lowest operating margin (9.3%) compared with Cintas' other segments [Relation] enable [Effect] the business can offer profitably without the need for large commitments of capital",
    "gold": "[Cause] all other offered the highest ROIC (23.1%) but the lowest operating margin (9.3%) compared with Cintas' other segments [Relation] cause [Effect] the business can offer profitably without the need for large commitments of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the company-owned distribution networks allow the firm to better control its sales strategy and marketing efforts, while also directly providing training and support to the contractors that install and service Lennox's products.",
    "output": "[Cause] the company-owned distribution networks [Relation] enable [Effect] the firm to better control its sales strategy and marketing efforts",
    "gold": "[Cause] the company-owned distribution networks [Relation] cause [Effect] the firm to better control its sales strategy and marketing efforts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the company-owned distribution networks allow the firm to better control its sales strategy and marketing efforts, while also directly providing training and support to the contractors that install and service Lennox's products.",
    "output": "[Cause] the company-owned distribution networks [Relation] enable [Effect] the firm to better control its sales strategy and marketing efforts",
    "gold": "[Cause] the company-owned distribution networks [Relation] cause [Effect] directly providing training and support to the contractors that install and service Lennox's products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Coty faces several environmental, social, and governance risks, such as significant use of fresh water, potential harmful ingredients in products (which can lead to recalls or litigation), pushback on animal testing, and insufficient governance which has allowed a series of value-destroying acquisitions.",
    "output": "[Cause] potential harmful ingredients in products [Relation] cause [Effect] recalls or litigation",
    "gold": "[Cause] potential harmful ingredients in products [Relation] cause [Effect] recalls or litigation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Coty faces several environmental, social, and governance risks, such as significant use of fresh water, potential harmful ingredients in products (which can lead to recalls or litigation), pushback on animal testing, and insufficient governance which has allowed a series of value-destroying acquisitions.",
    "output": "[Cause] potential harmful ingredients in products [Relation] cause [Effect] recalls or litigation",
    "gold": "[Cause] insufficient governance [Relation] cause [Effect]  a series of value-destroying acquisitions.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Expectations of record industry RV demand for calendar 2021, with a projected increase from 2020 of as much as 26% and record backlog, do not give us reason to be apprehensive about Winnebago's results for the next few years.",
    "output": "[Cause] Expectations of record industry RV demand for calendar 2021, with a projected increase from 2020 of as much as 26% and record backlog [Relation] cause [Effect] do not give us reason to be apprehensive about Winnebago's results for the next few years",
    "gold": "[Cause] Expectations of record industry RV demand for calendar 2021, with a projected increase from 2020 of as much as 26% and record backlog [Relation] enable [Effect] do not give us reason to be apprehensive about Winnebago's results for the next few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the company's focus on producing fields that essentially sit at the low end of the industry cost curve gives it more insulation than most peers against a weaker industry environment.",
    "output": "[Cause] the company's focus on producing fields that essentially sit at the low end of the industry cost curve [Relation] enable [Effect] more insulation than most peers against a weaker industry environment",
    "gold": "[Cause] the company's focus on producing fields that essentially sit at the low end of the industry cost curve [Relation] enable [Effect] more insulation than most peers against a weaker industry environment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The main risk for MPLX is the future production levels of the Appalachian region, given that this is essentially driving the entire asset base.",
    "output": "[Cause] this is essentially driving the entire asset base [Relation] cause [Effect] The main risk for MPLX is the future production levels of the Appalachian region",
    "gold": "[Cause]  this is essentially driving the entire asset base [Relation] cause [Effect] The main risk for MPLX is the future production levels of the Appalachian region",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As compliance needs have risen and investors continue to shift toward passive investment vehicles, the need for reliable pricing data has increased.",
    "output": "[Cause] compliance needs have risen and investors continue to shift toward passive investment vehicles [Relation] cause [Effect] the need for reliable pricing data has increased",
    "gold": "[Cause] compliance needs have risen and investors continue to shift toward passive investment vehicles [Relation] cause [Effect]  the need for reliable pricing data has increased",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think this dynamic gives the hyperscalers great leverage over CyrusOne, and even if they remain customers, they may extract terms that are a bit too favorable.",
    "output": "[Cause] this dynamic [Relation] enable [Effect] the hyperscalers great leverage over CyrusOne",
    "gold": "[Cause]  this dynamic [Relation] enable [Effect] the hyperscalers great leverage over CyrusOne",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Market research suggests that the younger generations tend to be less loyal to online shopping platforms, as their comfort with shopping online is high and safety concerns diminished.",
    "output": "[Cause] their comfort with shopping online is high and safety concerns diminished [Relation] cause [Effect] the younger generations tend to be less loyal to online shopping platforms",
    "gold": "[Cause] their comfort with shopping online is high and safety concerns diminished [Relation] cause [Effect] the younger generations tend to be less loyal to online shopping platforms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Burlington also uses its supply chain and distribution agility to take opportunistic positions in product categories as attractive off-season buying opportunities arise.",
    "output": "[Cause] attractive off-season buying opportunities arise [Relation] cause [Effect] Burlington also uses its supply chain and distribution agility to take opportunistic positions in product categories",
    "gold": "[Cause] attractive off-season buying opportunities arise [Relation] cause [Effect] Burlington also uses its supply chain and distribution agility to take opportunistic positions in product categories",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Volume shares at the manufacturer level have been very stable for decades, primarily, we believe, because the lack of marketing communication has discouraged brand switching.",
    "output": "[Cause] the lack of marketing communication has discouraged brand switching [Relation] cause [Effect] Volume shares at the manufacturer level have been very stable for decades",
    "gold": "[Cause] the lack of marketing communication has discouraged brand switching [Relation] cause [Effect] Volume shares at the manufacturer level have been very stable for decades",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have lowered our uncertainty to high from extreme, as we believe the company's divestitures will provide the necessary resources and potentially free up distractions and enable management to focus on bolstering its core services.",
    "output": "[Cause] the company's divestitures [Relation] enable [Effect] provide the necessary resources and potentially free up distractions",
    "gold": "[Cause] we believe the company's divestitures will provide the necessary resources and potentially free up distractions [Relation] cause [Effect] We have lowered our uncertainty to high from extreme",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We have lowered our uncertainty to high from extreme, as we believe the company's divestitures will provide the necessary resources and potentially free up distractions and enable management to focus on bolstering its core services.",
    "output": "[Cause] the company's divestitures will provide the necessary resources and potentially free up distractions [Relation] enable [Effect] management to focus on bolstering its core services",
    "gold": "[Cause] We have lowered our uncertainty to high from extreme [Relation] enable [Effect] management to focus on bolstering its core services",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Pricing power is strong where consumers have an aversion to taking a risk on an unfamiliar product (such as infant formula and pet food), as the perceived downside risk of untested products makes brand recognition highly influential in the purchasing decision.",
    "output": "[Cause] the perceived downside risk of untested products makes brand recognition highly influential in the purchasing decision [Relation] cause [Effect] Pricing power is strong where consumers have an aversion to taking a risk on an unfamiliar product",
    "gold": "[Cause] the perceived downside risk of untested products [Relation] enable [Effect] brand recognition highly influential in the purchasing decision",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Risks remain around additional waves of COVID-19 cases and an elongated time until an effective treatment and vaccines are globally available, which could delay our forecast recovery in demand.",
    "output": "[Cause] Risks remain around additional waves of COVID-19 cases and an elongated time until an effective treatment and vaccines are globally available [Relation] cause [Effect] delay our forecast recovery in demand",
    "gold": "[Cause] Risks remain around additional waves of COVID-19 cases and an elongated time until an effective treatment and vaccines are globally available [Relation] prevent [Effect] delay our forecast recovery in demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Firmwide margin expansion will be limited by a higher revenue mix shift to the lower-margin international business and the significant international building of new towers, which start with fewer tenants and therefore lower margins.",
    "output": "[Cause] a higher revenue mix shift to the lower-margin international business and the significant international building of new towers, which start with fewer tenants and therefore lower margins [Relation] cause [Effect] Firmwide margin expansion will be limited",
    "gold": "[Cause] a higher revenue mix shift to the lower-margin international business and the significant international building of new towers, which start with fewer tenants and therefore lower margins [Relation] cause [Effect] Firmwide margin expansion will be limited",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the expense side, we believe that the segment will not break even on an operating margin basis until 2022 as the leverage in the model depends on scale.",
    "output": "[Cause] the leverage in the model depends on scale [Relation] cause [Effect] the segment will not break even on an operating margin basis until 2022",
    "gold": "[Cause]  the leverage in the model depends on scale [Relation] cause [Effect]  the segment will not break even on an operating margin basis until 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Network segments will slide down slightly to 56% in 2024 from 58% in 2019 as the content costs will expand just ahead of revenue growth. As a result, EBITDA margin for the firm will fall to 40.5% in 2024, down from 41.9% in 2019 for Discovery.",
    "output": "[Cause] Network segments will slide down slightly to 56% in 2024 from 58% in 2019 as the content costs will expand just ahead of revenue growth [Relation] cause [Effect] EBITDA margin for the firm will fall to 40.5% in 2024, down from 41.9% in 2019 for Discovery",
    "gold": "[Cause] Network segments will slide down slightly to 56% in 2024 from 58% in 2019 as the content costs will expand just ahead of revenue growth [Relation] cause [Effect] EBITDA margin for the firm will fall to 40.5% in 2024, down from 41.9% in 2019 for Discovery",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, looking forward we see the risk of repeat event as significantly diminished governance risk as following the EC's findings, the elevator OEMs put in place internal controls to prevent future collusion incidences.",
    "output": "[Cause] the EC's findings [Relation] cause [Effect] the risk of repeat event as significantly diminished governance risk",
    "gold": "[Cause]  significantly diminished governance risk [Relation] cause [Effect]  the risk of repeat event",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, looking forward we see the risk of repeat event as significantly diminished governance risk as following the EC's findings, the elevator OEMs put in place internal controls to prevent future collusion incidences.",
    "output": "[Cause] the elevator OEMs put in place internal controls [Relation] prevent [Effect] future collusion incidences",
    "gold": "[Cause] the elevator OEMs put in place internal controls [Relation] prevent [Effect]  future collusion incidences",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, the change in consumer preferences has created a demand dislocation that has allowed new players like Aerie and Third Love to enter and succeed in the intimates' market, creating permanent long-term competition in the category.",
    "output": "[Cause] the change in consumer preferences [Relation] cause [Effect] a demand dislocation",
    "gold": "[Cause] the change in consumer preferences [Relation] cause [Effect] a demand dislocation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, the change in consumer preferences has created a demand dislocation that has allowed new players like Aerie and Third Love to enter and succeed in the intimates' market, creating permanent long-term competition in the category.",
    "output": "[Cause] the change in consumer preferences [Relation] cause [Effect] permanent long-term competition in the category",
    "gold": "[Cause] a demand dislocation [Relation] enable [Effect] new players like Aerie and Third Love to enter and succeed in the intimates' market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, the change in consumer preferences has created a demand dislocation that has allowed new players like Aerie and Third Love to enter and succeed in the intimates' market, creating permanent long-term competition in the category.",
    "output": "[Cause] the change in consumer preferences [Relation] cause [Effect] permanent long-term competition in the category",
    "gold": "[Cause] new players like Aerie and Third Love to enter and succeed in the intimates' market [Relation] cause [Effect] permanent long-term competition in the category",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we think entry into white-space categories and small acquisitions, particularly in parts and accessories as well as marine, are possible and could hike margins modestly.",
    "output": "[Cause] entry into white-space categories and small acquisitions, particularly in parts and accessories as well as marine [Relation] enable [Effect] hike margins modestly",
    "gold": "[Cause] entry into white-space categories and small acquisitions, particularly in parts and accessories as well as marine [Relation] enable [Effect]  hike margins modestly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to size and cost advantages, high street banks can be more selective as to which products and risks to take on their balance sheet when competition of mostly wholesale funded challengers increases, driving down prices and risk-adjusted returns.",
    "output": "[Cause] size and cost advantages [Relation] cause [Effect] high street banks can be more selective as to which products and risks to take on their balance sheet when competition of mostly wholesale funded challengers increases",
    "gold": "[Cause] size and cost advantages [Relation] enable [Effect] high street banks can be more selective as to which products and risks to take on their balance sheet when competition of mostly wholesale funded challengers increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to size and cost advantages, high street banks can be more selective as to which products and risks to take on their balance sheet when competition of mostly wholesale funded challengers increases, driving down prices and risk-adjusted returns.",
    "output": "[Cause] competition of mostly wholesale funded challengers increases [Relation] cause [Effect] driving down prices and risk-adjusted returns",
    "gold": "[Cause] size and cost advantages [Relation] cause [Effect] driving down prices and risk-adjusted returns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For instance, Weixin Moments' ad revenue continued to grow as advertisers can link their ads with their miniprograms to complete transactions.",
    "output": "[Cause] advertisers can link their ads with their miniprograms to complete transactions [Relation] cause [Effect] Weixin Moments' ad revenue continued to grow",
    "gold": "[Cause] advertisers can link their ads with their miniprograms to complete transactions [Relation] cause [Effect] Weixin Moments' ad revenue continued to grow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thus, economic disruption from potentially recurring government lockdowns and restrictions brings elevated uncertainty to our volume and pricing assumptions for 2021.",
    "output": "[Cause] economic disruption from potentially recurring government lockdowns and restrictions [Relation] cause [Effect] elevated uncertainty to our volume and pricing assumptions for 2021",
    "gold": "[Cause] economic disruption from potentially recurring government lockdowns and restrictions [Relation] cause [Effect] elevated uncertainty to our volume and pricing assumptions for 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, with the total company size now dwarfing its peers, there are only a very few scenarios probable of an acquisition large enough to make a material dent in ROICs.",
    "output": "[Cause] the total company size now dwarfing its peers [Relation] cause [Effect] there are only a very few scenarios probable of an acquisition large enough to make a material dent in ROICs",
    "gold": "[Cause] the total company size now dwarfing its peers [Relation] cause [Effect] there are only a very few scenarios probable of an acquisition large enough to make a material dent in ROICs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "CoreSite does not compete on price with most other data center operators because of the value it provides with its connected buildings.",
    "output": "[Cause] the value it provides with its connected buildings [Relation] cause [Effect] CoreSite does not compete on price with most other data center operators",
    "gold": "[Cause] the value it provides with its connected buildings [Relation] cause [Effect] CoreSite does not compete on price with most other data center operators",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Corteva sells a greater proportion of patented crop protection products and Enlist seeds, we expect companywide EBITDA margins to expand from a little under 15% in 2020 to over 20% by 2025.",
    "output": "[Cause] Corteva sells a greater proportion of patented crop protection products and Enlist seeds [Relation] cause [Effect] companywide EBITDA margins to expand from a little under 15% in 2020 to over 20% by 2025",
    "gold": "[Cause]  Corteva sells a greater proportion of patented crop protection products and Enlist seeds [Relation] enable [Effect] companywide EBITDA margins to expand from a little under 15% in 2020 to over 20% by 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, with some of the most profitable assets in the industry, Crown's food business should create plenty of cash flow to allocate to more attractive opportunities over time.",
    "output": "[Cause] some of the most profitable assets in the industry [Relation] cause [Effect] Crown's food business should create plenty of cash flow to allocate to more attractive opportunities over time",
    "gold": "[Cause]  some of the most profitable assets in the industry [Relation] cause [Effect]  Crown's food business should create plenty of cash flow to allocate to more attractive opportunities over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Within the defense exposure, we see similar dynamics to the commercial aerospace exposure, though carbon fiber has not penetrated the defense market due to defense users requiring performance over fuel efficiency.",
    "output": "[Cause] defense users requiring performance over fuel efficiency [Relation] cause [Effect] carbon fiber has not penetrated the defense market",
    "gold": "[Cause] defense users requiring performance over fuel efficiency [Relation] cause [Effect] carbon fiber has not penetrated the defense market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These brand extensions help keep the Williams-Sonoma portfolio relevant throughout consumer life cycles by catering to different needs at disparate life cycle positions.",
    "output": "[Cause] catering to different needs at disparate life cycle positions [Relation] enable [Effect] These brand extensions help keep the Williams-Sonoma portfolio relevant throughout consumer life cycles",
    "gold": "[Cause] catering to different needs at disparate life cycle positions [Relation] enable [Effect] These brand extensions help keep the Williams-Sonoma portfolio relevant throughout consumer life cycles",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the near term, we remain concerned that the supply chain could intermittently be disrupted as a result of COVID-19, potentially hindering the availability of product and leading to stock outs.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] the supply chain could intermittently be disrupted",
    "gold": "[Cause] supply chain could intermittently be disrupted [Relation] cause [Effect] potentially hindering the availability of product and leading to stock outs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think vehicle electrification--both of the drivetrain and the cabin--will lead to content gains and drive 11% growth for automotive circuit protection over our explicit forecast.",
    "output": "[Cause] vehicle electrification--both of the drivetrain and the cabin [Relation] cause [Effect] content gains and drive 11% growth for automotive circuit protection over our explicit forecast",
    "gold": "[Cause] vehicle electrification--both of the drivetrain and the cabin [Relation] cause [Effect] content gains and drive 11% growth for automotive circuit protection over our explicit forecast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As more people use the service with a positive experience, repeat customers have grown to above 69% of the mix in 2019 from 37% in 2012.",
    "output": "[Cause] more people use the service with a positive experience [Relation] cause [Effect] repeat customers have grown to above 69% of the mix in 2019 from 37% in 2012",
    "gold": "[Cause] more people use the service with a positive experience [Relation] cause [Effect] repeat customers have grown to above 69% of the mix in 2019 from 37% in 2012",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, we think defense and space will benefit from global defense spending as nations work to modernize and recapitalize their militaries.",
    "output": "[Cause] nations work to modernize and recapitalize their militaries [Relation] cause [Effect] defense and space will benefit from global defense spending",
    "gold": "[Cause] nations work to modernize and recapitalize their militaries [Relation] cause [Effect] defense and space will benefit from global defense spending",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that the inputs and equipment to create similar products are available to competitors, segment margins could come under pressure in the coming years.",
    "output": "[Cause] the inputs and equipment to create similar products are available to competitors [Relation] cause [Effect] segment margins could come under pressure in the coming years",
    "gold": "[Cause] the inputs and equipment to create similar products are available to competitors [Relation] cause [Effect] segment margins could come under pressure in the coming years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Icon's resilience through the COVID-19 pandemic gives us confidence in its abilities to manage both COVID-19-related trial work and more typical drug development over the medium term.",
    "output": "[Cause] Icon's resilience through the COVID-19 pandemic [Relation] enable [Effect] gives us confidence in its abilities to manage both COVID-19-related trial work and more typical drug development over the medium term",
    "gold": "[Cause] Icon's resilience through the COVID-19 pandemic [Relation] enable [Effect] gives us confidence in its abilities to manage both COVID-19-related trial work and more typical drug development over the medium term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite lower returns on invested capital than peers, we think Cognizant's still healthy returns due to technical and industry expertise will endure over the next 10 years.",
    "output": "[Cause] technical and industry expertise will endure over the next 10 years [Relation] cause [Effect] Cognizant's still healthy returns",
    "gold": "[Cause] technical and industry expertise will endure over the next 10 years [Relation] cause [Effect] Cognizant's still healthy returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, there are no switching costs to protect Harley's brand when consumers replace their bikes, and the premium price Harley commands relative to its peers has proved problematic during cyclical downturns and periods of competitive pricing, hindering Harley's retail sales and shipments.",
    "output": "[Cause] consumers replace their bikes [Relation] cause [Effect] there are no switching costs to protect Harley's brand",
    "gold": "[Cause]  the premium price Harley commands relative to its peers has proved problematic [Relation] prevent [Effect] Harley's retail sales and shipments",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Victoria's Secret's performance will become less of a drag on performance if the majority sale or spin-off of the brand is executed, which we expect in 2021.",
    "output": "[Cause] the majority sale or spin-off of the brand is executed [Relation] cause [Effect] Victoria's Secret's performance will become less of a drag on performance",
    "gold": "[Cause] the majority sale or spin-off of the brand is executed [Relation] cause [Effect] Victoria's Secret's performance will become less of a drag on performance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although it's disproportionately exposed to the beleaguered soda category, we believe innovation will continue to resonate, owing to a core consumer gleaning a higher marginal benefit from consumption, affording continued pricing tailwinds, which we model in the midsingle digits.",
    "output": "[Cause] a core consumer gleaning a higher marginal benefit from consumption, affording continued pricing tailwinds [Relation] cause [Effect] innovation will continue to resonate",
    "gold": "[Cause]  a core consumer gleaning a higher marginal benefit from consumption, affording continued pricing tailwinds [Relation] cause [Effect]  innovation will continue to resonate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "All these factors should keep the company growing for many years, despite more competition from franchised dealers and online-only startups, and may one day lead to international expansion.",
    "output": "[Cause] more competition from franchised dealers and online-only startups [Relation] cause [Effect] the company growing for many years",
    "gold": "[Cause]  more competition from franchised dealers and online-only startups [Relation] enable [Effect]  the company growing for many years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "All these factors should keep the company growing for many years, despite more competition from franchised dealers and online-only startups, and may one day lead to international expansion.",
    "output": "[Cause] international expansion [Relation] cause [Effect] keep the company growing for many years",
    "gold": "[Cause]  more competition from franchised dealers and online-only startups [Relation] cause [Effect]  international expansion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Economic profitability may be at risk if oil, steel, copper, and aluminum prices return to the highs seen in the past decade.",
    "output": "[Cause] oil, steel, copper, and aluminum prices return to the highs seen in the past decade [Relation] cause [Effect] Economic profitability may be at risk",
    "gold": "[Cause] oil, steel, copper, and aluminum prices return to the highs seen in the past decade [Relation] cause [Effect] Economic profitability may be at risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Alternatively, AT&T and other incumbents could be compelled to bid up prices to protect the market, as we suspect AT&T did in 2015 during the costly AWS-3 auction.",
    "output": "[Cause] AT&T and other incumbents could be compelled to bid up prices [Relation] enable [Effect] protect the market",
    "gold": "[Cause] protect the market [Relation] cause [Effect] AT&T and other incumbents could be compelled to bid up prices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Meanwhile, Tencent invests in loss-making businesses for the future, for example in cloud, Tencent Video, and short videos, which may lower margin overall.",
    "output": "[Cause] Tencent invests in loss-making businesses for the future [Relation] cause [Effect] lower margin overall",
    "gold": "[Cause] Tencent invests in loss-making businesses for the future [Relation] enable [Effect]  lower margin overall",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we plan to evaluate VS's operating margin performance over the next few quarters, as the brand can be exposed to fashion risk, and the intimates space remains fragmented (which could intermittently lead to margin pressure when the promotional environment escalates, reflected in our high uncertainty rating).",
    "output": "[Cause] the brand can be exposed to fashion risk, and the intimates space remains fragmented [Relation] cause [Effect] we plan to evaluate VS's operating margin performance over the next few quarters",
    "gold": "[Cause] the brand can be exposed to fashion risk, and the intimates space remains fragmented [Relation] cause [Effect] we plan to evaluate VS's operating margin performance over the next few quarters",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's addressable market likely exceeds our estimates of core telehealth services, but we have excluded significant cross-selling opportunities due to the nascent size of the virtual health market.",
    "output": "[Cause] the nascent size of the virtual health market [Relation] cause [Effect] excluded significant cross-selling opportunities",
    "gold": "[Cause] the nascent size of the virtual health market [Relation] cause [Effect] excluded significant cross-selling opportunities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "More concerning is the coronavirus situation, which is expected to result in a sharp increase in expected credit loss, or ECL.",
    "output": "[Cause] the coronavirus situation [Relation] cause [Effect] a sharp increase in expected credit loss, or ECL",
    "gold": "[Cause] the coronavirus situation [Relation] cause [Effect] a sharp increase in expected credit loss, or ECL",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast L Brands to deliver 2.9% average revenue growth over the next five years, helped by the repositioning of the VS brand.",
    "output": "[Cause] the repositioning of the VS brand [Relation] enable [Effect] L Brands to deliver 2.9% average revenue growth over the next five years",
    "gold": "[Cause] the repositioning of the VS brand [Relation] enable [Effect]  L Brands to deliver 2.9% average revenue growth over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "An opening-up of imports of petrol products to more entities could raise competition in China from global suppliers of gasoline and diesel.",
    "output": "[Cause] An opening-up of imports of petrol products to more entities [Relation] cause [Effect] raise competition in China from global suppliers of gasoline and diesel",
    "gold": "[Cause] An opening-up of imports of petrol products to more entities [Relation] cause [Effect] raise competition in China from global suppliers of gasoline and diesel",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, the firm's scope has allowed it to mitigate its working-capital burden by holding inventories below accounts payable, as vendors are more willing to agree to generous payment terms for an industry leader (and as multiple points of sale improve turnover for infrequently purchased items).",
    "output": "[Cause] the firm's scope [Relation] enable [Effect] it to mitigate its working-capital burden by holding inventories below accounts payable",
    "gold": "[Cause]  the firm's scope [Relation] enable [Effect] it to mitigate its working-capital burden by holding inventories below accounts payable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To make things worse, we believe the historical credit loss ratio in Italy should have been higher, given the continued need for further provisions against the mountain of nonperforming loans that has built up.",
    "output": "[Cause] the continued need for further provisions against the mountain of nonperforming loans that has built up [Relation] cause [Effect] the historical credit loss ratio in Italy should have been higher",
    "gold": "[Cause] the continued need for further provisions against the mountain of nonperforming loans that has built up [Relation] cause [Effect] the historical credit loss ratio in Italy should have been higher",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Hence, if a player decides to increase prices significantly, it is possible that its customers could switch to a competitor with a lower-priced, similar offering. As a result, Synopsys cannot enjoy significant pricing power over its customers, especially as the average contract length (three years) roughly coincides with the length of the node development process.",
    "output": "[Cause] if a player decides to increase prices significantly, it is possible that its customers could switch to a competitor with a lower-priced, similar offering [Relation] cause [Effect] Synopsys cannot enjoy significant pricing power over its customers, especially as the average contract length (three years) roughly coincides with the length of the node development process",
    "gold": "[Cause] if a player decides to increase prices significantly, it is possible that its customers could switch to a competitor with a lower-priced, similar offering [Relation] cause [Effect] Synopsys cannot enjoy significant pricing power over its customers, especially as the average contract length (three years) roughly coincides with the length of the node development process",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Most importantly, scale will be lost from ships that remain in layup, as we anticipate Royal will execute a staggered, limited return to the sailing of its fleet in the back half of 2021.",
    "output": "[Cause] Royal will execute a staggered, limited return to the sailing of its fleet in the back half of 2021 [Relation] cause [Effect] scale will be lost from ships that remain in layup",
    "gold": "[Cause]  Royal will execute a staggered, limited return to the sailing of its fleet in the back half of 2021 [Relation] cause [Effect] scale will be lost from ships that remain in layup",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With that light leverage, HCA currently acts like an investment-grade entity with several levers to pull to continue meeting its debt-related obligations, and unlike some of its peers, HCA should not face significant refinancing risks in the intermediate term, in our opinion.",
    "output": "[Cause] light leverage [Relation] cause [Effect] HCA currently acts like an investment-grade entity with several levers to pull",
    "gold": "[Cause] light leverage [Relation] cause [Effect] HCA currently acts like an investment-grade entity with several levers to pull",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With that light leverage, HCA currently acts like an investment-grade entity with several levers to pull to continue meeting its debt-related obligations, and unlike some of its peers, HCA should not face significant refinancing risks in the intermediate term, in our opinion.",
    "output": "[Cause] HCA currently acts like an investment-grade entity with several levers to pull [Relation] enable [Effect] meet its debt-related obligations",
    "gold": "[Cause] HCA currently acts like an investment-grade entity with several levers to pull [Relation] enable [Effect]  meeting its debt-related obligations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Lower margins of oil refiners could lead these companies to delay purchases of hydroprocessing catalysts used to remove pollutants from fuel oils.",
    "output": "[Cause] Lower margins of oil refiners [Relation] cause [Effect] these companies to delay purchases of hydroprocessing catalysts used to remove pollutants from fuel oils",
    "gold": "[Cause] Lower margins of oil refiners [Relation] cause [Effect]  these companies to delay purchases of hydroprocessing catalysts used to remove pollutants from fuel oils",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The bancassurance model is well established in France, and combined with BNP's asset management operations, it allows BNP to capture substantial portions of the value chain on financial products.",
    "output": "[Cause] The bancassurance model is well established in France, and combined with BNP's asset management operations [Relation] enable [Effect] BNP to capture substantial portions of the value chain on financial products",
    "gold": "[Cause] The bancassurance model is well established in France, and combined with BNP's asset management operations [Relation] enable [Effect]  BNP to capture substantial portions of the value chain on financial products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We recognize there is political uncertainty in the budget due to the upcoming 2020 presidential election, but we think that it will be difficult to materially decrease the defense budget without sweeping political change.",
    "output": "[Cause] the upcoming 2020 presidential election [Relation] cause [Effect] political uncertainty in the budget",
    "gold": "[Cause] sweeping political change [Relation] cause [Effect]  materially decrease the defense budget",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We recognize there is political uncertainty in the budget due to the upcoming 2020 presidential election, but we think that it will be difficult to materially decrease the defense budget without sweeping political change.",
    "output": "[Cause] sweeping political change [Relation] cause [Effect] materially decrease the defense budget",
    "gold": "[Cause] the upcoming 2020 presidential election [Relation] cause [Effect] there is political uncertainty in the budget",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These segments earn most of their revenue through recurring subscription or licensing fees as opposed to the per transaction fees in the exchange segment. This provides Nasdaq with a more stable revenue base, and the company now earns roughly 50% of its revenue from recurring sources.",
    "output": "[Cause] These segments earn most of their revenue through recurring subscription or licensing fees as opposed to the per transaction fees in the exchange segment [Relation] enable [Effect] provides Nasdaq with a more stable revenue base, and the company now earns roughly 50% of its revenue from recurring sources",
    "gold": "[Cause] These segments earn most of their revenue through recurring subscription or licensing fees as opposed to the per transaction fees in the exchange segment [Relation] cause [Effect] provides Nasdaq with a more stable revenue base, and the company now earns roughly 50% of its revenue from recurring sources",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, Rogers' adoption of Comcast's X1 technology should result in meaningfully reduced capital spending as it moves to a more IP-based service, reducing Rogers' upfront installation costs.",
    "output": "[Cause] it moves to a more IP-based service, reducing Rogers' upfront installation costs [Relation] cause [Effect] Rogers' adoption of Comcast's X1 technology should result in meaningfully reduced capital spending",
    "gold": "[Cause]  it moves to a more IP-based service, reducing Rogers' upfront installation costs [Relation] cause [Effect] Rogers' adoption of Comcast's X1 technology should result in meaningfully reduced capital spending",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fixed-line infrastructure in African markets is almost nonexistent so telecom operators cannot offer convergent services in most areas, largely eliminating the ability to use a converged offering to create a competitive advantage.",
    "output": "[Cause] Fixed-line infrastructure in African markets is almost nonexistent [Relation] cause [Effect] telecom operators cannot offer convergent services in most areas",
    "gold": "[Cause] Fixed-line infrastructure in African markets is almost nonexistent [Relation] cause [Effect] telecom operators cannot offer convergent services in most areas",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As activity in the next few years will focus on the Howard County assets anyway, a further uptick in performance is expected, but when Laredo runs out of inventory in that area, we know the legacy assets are capable of higher productivity than the weak 2017-18 period suggests.",
    "output": "[Cause] activity in the next few years will focus on the Howard County assets anyway [Relation] cause [Effect] a further uptick in performance is expected",
    "gold": "[Cause] Laredo runs out of inventory in that area [Relation] cause [Effect] the legacy assets are capable of higher productivity than the weak 2017-18 period suggests",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We assign the firm a high uncertainty rating, which reflects cyclically challenged end markets as well as an uncertain progression of inorganic growth.",
    "output": "[Cause] cyclically challenged end markets as well as an uncertain progression of inorganic growth [Relation] cause [Effect] We assign the firm a high uncertainty rating",
    "gold": "[Cause] cyclically challenged end markets as well as an uncertain progression of inorganic growth [Relation] cause [Effect] We assign the firm a high uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "History suggests this could be possible, as Illinois' early plans for recreational Drug Manufacturers - Specialty & Genericlegalization would hand an advantage to companies with medical cultivation and dispensary licenses.",
    "output": "[Cause] Illinois' early plans for recreational Drug Manufacturers - Specialty & Genericlegalization would hand an advantage to companies with medical cultivation and dispensary licenses [Relation] cause [Effect] this could be possible",
    "gold": "[Cause]  Illinois' early plans for recreational Drug Manufacturers - Specialty & Genericlegalization would hand an advantage to companies with medical cultivation and dispensary licenses [Relation] cause [Effect]  this could be possible",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the bank's restructuring largely completed, the focus is on organic growth in penetrating its existing corporate customers with additional products, enhancing switching costs for clients, in our view.",
    "output": "[Cause] the bank's restructuring largely completed [Relation] cause [Effect] the focus is on organic growth in penetrating its existing corporate customers with additional products, enhancing switching costs for clients",
    "gold": "[Cause] the bank's restructuring largely completed [Relation] cause [Effect] the focus is on organic growth in penetrating its existing corporate customers with additional products, enhancing switching costs for clients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, the firm regularly introduces new or improved solutions that allow it to remain a step ahead of its competitors.",
    "output": "[Cause] the firm regularly introduces new or improved solutions [Relation] enable [Effect] it to remain a step ahead of its competitors",
    "gold": "[Cause] the firm regularly introduces new or improved solutions [Relation] enable [Effect] it to remain a step ahead of its competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Building on the acquisition-driven risks, Salesforce.com is likely to face new competitors as it continues to acquire its way into markets the company was not previously serving.",
    "output": "[Cause] it continues to acquire its way into markets the company was not previously serving [Relation] cause [Effect] Building on the acquisition-driven risks, Salesforce.com is likely to face new competitors",
    "gold": "[Cause] it continues to acquire its way into markets the company was not previously serving [Relation] cause [Effect] Building on the acquisition-driven risks, Salesforce.com is likely to face new competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Magnetic flowmeters cause inaccurate measurement in this use case, which can result in a 15% rejection rate for either insufficient brightness or whiteness.",
    "output": "[Cause] Magnetic flowmeters cause inaccurate measurement in this use case [Relation] cause [Effect] a 15% rejection rate for either insufficient brightness or whiteness",
    "gold": "[Cause] Magnetic flowmeters cause inaccurate measurement in this use case [Relation] cause [Effect]  a 15% rejection rate for either insufficient brightness or whiteness",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Following 2025, we think MPS' market outgrowth will moderate as its top line swells and market share gains come more slowly, but we are still expecting low-double-digit sales growth.",
    "output": "[Cause] its top line swells and market share gains come more slowly [Relation] cause [Effect] MPS' market outgrowth will moderate",
    "gold": "[Cause]  its top line swells and market share gains come more slowly [Relation] cause [Effect]  MPS' market outgrowth will moderate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The technology used in arms production requires extensive expertise and lacks commercial viability outside of the defense industry, so a new entrant would likely need to develop this know-how entirely from the ground up.",
    "output": "[Cause] The technology used in arms production requires extensive expertise and lacks commercial viability outside of the defense industry [Relation] cause [Effect] a new entrant would likely need to develop this know-how entirely from the ground up",
    "gold": "[Cause] The technology used in arms production requires extensive expertise and lacks commercial viability outside of the defense industry [Relation] cause [Effect] a new entrant would likely need to develop this know-how entirely from the ground up",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The auto industry had seen an uptick in costs in previous years, as a multitude of factors ranging from low gas prices to distracted driving pushed up claims.",
    "output": "[Cause] a multitude of factors ranging from low gas prices to distracted driving pushed up claims [Relation] cause [Effect] The auto industry had seen an uptick in costs in previous years",
    "gold": "[Cause] a multitude of factors ranging from low gas prices to distracted driving pushed up claims [Relation] cause [Effect] The auto industry had seen an uptick in costs in previous years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see noninterest income increasing at a compound annual growth rate of roughly 2%-3%. This leads us to expect a terminal return on tangible equity of roughly 11%-12% for our forecast period, slightly above our the cost of equity of 9%.",
    "output": "[Cause] noninterest income increasing at a compound annual growth rate of roughly 2%-3% [Relation] cause [Effect] a terminal return on tangible equity of roughly 11%-12% for our forecast period, slightly above our the cost of equity of 9%",
    "gold": "[Cause]  noninterest income increasing at a compound annual growth rate of roughly 2%-3% [Relation] cause [Effect] a terminal return on tangible equity of roughly 11%-12% for our forecast period, slightly above our the cost of equity of 9%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We view political and regulatory event risk as a key consideration for the company, and history shows how compliance issues can have a dramatic impact on profitability for Western Union and peers.",
    "output": "[Cause] political and regulatory event risk [Relation] cause [Effect] a key consideration for the company",
    "gold": "[Cause] history shows how compliance issues can have a dramatic impact on profitability for Western Union and peers [Relation] cause [Effect] We view political and regulatory event risk as a key consideration for the company",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This favors large, well-funded players like Genuine Parts that are able to leverage inventory and infrastructure over a large sales base to maximize the opportunities to sell slow-to-move components. Consequently, the unit also has a cost advantage relative to smaller, regional participants, important in an industry that is highly fragmented (despite its standing as the leading industrial maintenance, repair, and operations parts distributor in North America, the segment's market share is only around 8%).",
    "output": "[Cause] This favors large, well-funded players like Genuine Parts that are able to leverage inventory and infrastructure over a large sales base to maximize the opportunities to sell slow-to-move components [Relation] cause [Effect] the unit also has a cost advantage relative to smaller, regional participants, important in an industry that is highly fragmented (despite its standing as the leading industrial maintenance, repair, and operations parts distributor in North America, the segment's market share is only around 8%)",
    "gold": "[Cause] This favors large, well-funded players like Genuine Parts that are able to leverage inventory and infrastructure over a large sales base to maximize the opportunities to sell slow-to-move components [Relation] cause [Effect] the unit also has a cost advantage relative to smaller, regional participants, important in an industry that is highly fragmented (despite its standing as the leading industrial maintenance, repair, and operations parts distributor in North America, the segment's market share is only around 8%)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The political situation in Guyana also bears watching, as regime change could theoretically result in less support for international oil companies.",
    "output": "[Cause] regime change could theoretically result in less support for international oil companies [Relation] cause [Effect] The political situation in Guyana also bears watching",
    "gold": "[Cause] regime change could theoretically result in less support for international oil companies [Relation] cause [Effect] The political situation in Guyana also bears watching",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2017 and 2018, it attempted to increase the value of its acreage by squeezing more wells into each drilling spacing unit (1-mile cross-section).",
    "output": "[Cause] squeezing more wells into each drilling spacing unit (1-mile cross-section) [Relation] enable [Effect] increase the value of its acreage",
    "gold": "[Cause] increase the value of its acreage [Relation] cause [Effect] squeezing more wells into each drilling spacing unit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think the main determinants of the bank's success are the interest-rate environment, the ability to maintain and improve operational efficiency gains, and the capacity to control credit costs.",
    "output": "[Cause] the interest-rate environment, the ability to maintain and improve operational efficiency gains, and the capacity to control credit costs [Relation] cause [Effect] the bank's success",
    "gold": "[Cause] the interest-rate environment, the ability to maintain and improve operational efficiency gains, and the capacity to control credit costs [Relation] cause [Effect] the bank's success",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While a leader in real-world evidence, IQVIA's success there is highly dependent on regulatory cooperation, as real-world evidence offerings will only be worth a premium if they're completely embraced by the FDA and other regulatory entities.",
    "output": "[Cause] real-world evidence offerings will only be worth a premium if they're completely embraced by the FDA and other regulatory entities [Relation] cause [Effect] IQVIA's success there is highly dependent on regulatory cooperation",
    "gold": "[Cause] real-world evidence offerings will only be worth a premium if they're completely embraced by the FDA and other regulatory entities [Relation] cause [Effect] IQVIA's success there is highly dependent on regulatory cooperation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Insurance - Property & Casualtycustomers add policies, they are more likely to rely on an agent who can help them customize their policies and save them money through bundling.",
    "output": "[Cause] Insurance - Property & Casualtycustomers add policies [Relation] cause [Effect] they are more likely to rely on an agent who can help them customize their policies and save them money through bundling",
    "gold": "[Cause]  Insurance - Property & Casualtycustomers add policies [Relation] cause [Effect] they are more likely to rely on an agent who can help them customize their policies and save them money through bundling",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The SaaS business model, and Salesforce's SFA application, rose in popularity as customers were able to avoid high up-front costs and lengthy installations or potentially painful upgrade cycles, were always running the latest version, had more predictable operating expenses and capital outlays, and were running modern best-of-breed applications.",
    "output": "[Cause] customers were able to avoid high up-front costs and lengthy installations or potentially painful upgrade cycles, were always running the latest version, had more predictable operating expenses and capital outlays, and were running modern best-of-breed applications [Relation] cause [Effect] The SaaS business model, and Salesforce's SFA application, rose in popularity",
    "gold": "[Cause]  customers were able to avoid high up-front costs and lengthy installations or potentially painful upgrade cycles, were always running the latest version, had more predictable operating expenses and capital outlays, and were running modern best-of-breed applications [Relation] cause [Effect] The SaaS business model, and Salesforce's SFA application, rose in popularity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the carrier has managed to gradually take business from many large competitors as well, thanks to its best-in-class network service, which is bolstered by OD handling most of its own linehaul needs.",
    "output": "[Cause] its best-in-class network service [Relation] enable [Effect] the carrier has managed to gradually take business from many large competitors as well",
    "gold": "[Cause] OD handling most of its own linehaul needs [Relation] enable [Effect]  its best-in-class network service",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As the agreement is currently constructed, ICANN does not have the ability to put the agreement up for bid unless VeriSign breaches the existing agreement.",
    "output": "[Cause] the agreement is currently constructed [Relation] cause [Effect] ICANN does not have the ability to put the agreement up for bid unless VeriSign breaches the existing agreement",
    "gold": "[Cause] the agreement is currently constructed [Relation] cause [Effect]  ICANN does not have the ability to put the agreement up for bid unless VeriSign breaches the existing agreement",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Like most gold producers, Agnico Eagle is highly leveraged to gold, so cash flow faces meaningful risk to fluctuations in price.",
    "output": "[Cause] Agnico Eagle is highly leveraged to gold [Relation] cause [Effect] cash flow faces meaningful risk to fluctuations in price",
    "gold": "[Cause] Agnico Eagle is highly leveraged to gold [Relation] cause [Effect] cash flow faces meaningful risk to fluctuations in price",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are reducing our fair value estimate to $45 per share from $50 after incorporating second-quarter results and updating our internal growth assumptions to reflect lower growth over the next several quarters.",
    "output": "[Cause] incorporating second-quarter results and updating our internal growth assumptions to reflect lower growth over the next several quarters [Relation] cause [Effect] We are reducing our fair value estimate to $45 per share from $50",
    "gold": "[Cause] reflect lower growth over the next several quarters [Relation] cause [Effect] reducing our fair value estimate to $45 per share from $50 after incorporating second-quarter results and updating our internal growth assumptions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A shift toward biopharma clients has also made the company less susceptible to more volatile infrastructure and applied end markets, even in emerging-market geographies where the biopharma channel is experiencing particularly high growth.",
    "output": "[Cause] A shift toward biopharma clients [Relation] cause [Effect] the company less susceptible to more volatile infrastructure and applied end markets",
    "gold": "[Cause] A shift toward biopharma clients [Relation] cause [Effect]  the company less susceptible to more volatile infrastructure and applied end markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Operating expenses have been elevated over the past few years from catch-up research and development costs, higher-than-usual promotional expenses, and other costs from the firm's separation from Novartis.",
    "output": "[Cause] catch-up research and development costs, higher-than-usual promotional expenses, and other costs from the firm's separation from Novartis [Relation] cause [Effect] Operating expenses have been elevated over the past few years",
    "gold": "[Cause] catch-up research and development costs, higher-than-usual promotional expenses, and other costs from the firm's separation from Novartis [Relation] cause [Effect] Operating expenses have been elevated over the past few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In Devon's case the inflated capital base depresses corporate returns on invested capital, regardless of how attractive its incremental drilling opportunities are.",
    "output": "[Cause] the inflated capital base [Relation] prevent [Effect] corporate returns on invested capital",
    "gold": "[Cause] the inflated capital base [Relation] prevent [Effect] corporate returns on invested capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Early entry into the Permian has also resulted in lower royalty rates (around 15% versus about 25% for many Permian peers), which improve the return profile of its wells.",
    "output": "[Cause] Early entry into the Permian [Relation] cause [Effect] lower royalty rates",
    "gold": "[Cause] Early entry into the Permian [Relation] enable [Effect] lower royalty rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As such, a reputation for quality and reliability is decisive, especially in the commercial and industrial verticals, as any product failures could lead to costly outages or downtime.",
    "output": "[Cause] any product failures could lead to costly outages or downtime [Relation] cause [Effect] a reputation for quality and reliability is decisive",
    "gold": "[Cause] any product failures could lead to costly outages or downtime [Relation] cause [Effect] a reputation for quality and reliability is decisive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nokia's technology segment creates revenue through licensing critical communication patents and receiving royalty payments through HMD's Nokia-branded smartphone sales.",
    "output": "[Cause] licensing critical communication patents and receiving royalty payments through HMD's Nokia-branded smartphone sales [Relation] enable [Effect] Nokia's technology segment creates revenue",
    "gold": "[Cause] licensing critical communication patents and receiving royalty payments through HMD's Nokia-branded smartphone sales [Relation] enable [Effect] Nokia's technology segment creates revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, we expect the shortage of storage in the HSC to eventually be addressed within a few years as competitors add new capacity, lowering returns.",
    "output": "[Cause] competitors add new capacity, lowering returns [Relation] cause [Effect] the shortage of storage in the HSC to eventually be addressed within a few years",
    "gold": "[Cause] competitors add new capacity, lowering returns [Relation] cause [Effect] the shortage of storage in the HSC to eventually be addressed within a few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "IT teams may rely on the large public cloud vendors for traffic management within their respective clouds, but F5 helps control the traffic between on-premises, private, and public clouds and has enterprise rich features.",
    "output": "[Cause] the large public cloud vendors [Relation] enable [Effect] traffic management within their respective clouds",
    "gold": "[Cause] the large public cloud vendors [Relation] enable [Effect] traffic management within their respective clouds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In this vein, we see Keurig Dr Pepper as facing a structurally higher bar to earning economic rents, as goodwill to the tune of 41% of assets versus a high-teens proportion for its closest peers further bloats the invested capital base.",
    "output": "[Cause] goodwill to the tune of 41% of assets versus a high-teens proportion for its closest peers further bloats the invested capital base [Relation] cause [Effect] Keurig Dr Pepper as facing a structurally higher bar to earning economic rents",
    "gold": "[Cause] we see Keurig Dr Pepper as facing a structurally higher bar to earning economic rents [Relation] cause [Effect] as goodwill to the tune of 41% of assets versus a high-teens proportion for its closest peers further bloats the invested capital base",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Total has also shifted more investment to its marketing and services segment, which is less capital-intensive and has less-volatile earnings. As a result, returns have improved to average 30% during the last five years, compared with 10% during the previous five-year period.",
    "output": "[Cause] Total has also shifted more investment to its marketing and services segment, which is less capital-intensive and has less-volatile earnings [Relation] cause [Effect] returns have improved to average 30% during the last five years, compared with 10% during the previous five-year period",
    "gold": "[Cause] Total has also shifted more investment to its marketing and services segment, which is less capital-intensive and has less-volatile earnings [Relation] cause [Effect] returns have improved to average 30% during the last five years, compared with 10% during the previous five-year period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a large land portfolio in the U.S., Latin America, and New Zealand, Ormat is positioned to continue adding capacity in these regions.",
    "output": "[Cause] a large land portfolio in the U.S., Latin America, and New Zealand [Relation] enable [Effect] Ormat is positioned to continue adding capacity in these regions",
    "gold": "[Cause] a large land portfolio in the U.S., Latin America, and New Zealand [Relation] enable [Effect] Ormat is positioned to continue adding capacity in these regions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In its smaller Medicare business, we expect low-double-digit growth primarily as demographic trends and the increasing popularity of Medicare Advantage plans benefit that business.",
    "output": "[Cause] demographic trends and the increasing popularity of Medicare Advantage plans benefit that business [Relation] cause [Effect] low-double-digit growth primarily",
    "gold": "[Cause] demographic trends and the increasing popularity of Medicare Advantage plans benefit that business [Relation] cause [Effect] low-double-digit growth primarily",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This will benefit Splunk, as greater amounts of data stored with its platform means that companies are more likely to run analytics for new use cases since all the data necessary to do so is already stored with Splunk.",
    "output": "[Cause] greater amounts of data stored with its platform [Relation] cause [Effect] companies are more likely to run analytics for new use cases",
    "gold": "[Cause] greater amounts of data stored with its platform [Relation] cause [Effect] companies are more likely to run analytics for new use cases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This will benefit Splunk, as greater amounts of data stored with its platform means that companies are more likely to run analytics for new use cases since all the data necessary to do so is already stored with Splunk.",
    "output": "[Cause] all the data necessary to do so is already stored with Splunk [Relation] cause [Effect] companies are more likely to run analytics for new use cases",
    "gold": "[Cause] all the data necessary to do so is already stored with Splunk [Relation] cause [Effect] This will benefit Splunk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, there has been a trend of consolidation in the semiconductor space, which is increasing Cadence's reliance on fewer, larger customers.",
    "output": "[Cause] a trend of consolidation in the semiconductor space [Relation] cause [Effect] increasing Cadence's reliance on fewer, larger customers",
    "gold": "[Cause] a trend of consolidation in the semiconductor space [Relation] enable [Effect] increasing Cadence's reliance on fewer, larger customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Millennials have been driving many of these trends, and as the 2 Jun 2021 05:00, UTCgeneration acquires enough capital to own single-family homes or if tastes change significantly, these trends could reverse and hurt demand for apartments.",
    "output": "[Cause] tastes change significantly [Relation] cause [Effect] these trends could reverse and hurt demand for apartments",
    "gold": "[Cause] tastes change significantly [Relation] cause [Effect] these trends could reverse and hurt demand for apartments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While scaling is typically difficult for insurance companies, personal line insurers like Geico and Progressive have been better at spreading fixed costs over a wider base, as their business models do not require as much human capital and specialized underwriters as other insurance lines.",
    "output": "[Cause] their business models do not require as much human capital and specialized underwriters as other insurance lines [Relation] cause [Effect] While scaling is typically difficult for insurance companies, personal line insurers like Geico and Progressive have been better at spreading fixed costs over a wider base",
    "gold": "[Cause] their business models do not require as much human capital and specialized underwriters as other insurance lines [Relation] enable [Effect] While scaling is typically difficult for insurance companies, personal line insurers like Geico and Progressive have been better at spreading fixed costs over a wider base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This means each patient typically goes through some trial and error before finding a highly individualized solution that works for him or her, which usually takes place in the first year following surgery.",
    "output": "[Cause] each patient typically goes through some trial and error [Relation] cause [Effect] finding a highly individualized solution that works for him or her",
    "gold": "[Cause] each patient typically goes through some trial and error [Relation] enable [Effect]  finding a highly individualized solution that works for him or her",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For artists, sales of albums and singles, either physical or digital, have collapsed over the last decade as younger consumers have turned toward streaming platforms like YouTube and Spotify to consume music.",
    "output": "[Cause] younger consumers have turned toward streaming platforms like YouTube and Spotify to consume music [Relation] cause [Effect] sales of albums and singles, either physical or digital, have collapsed over the last decade",
    "gold": "[Cause]  younger consumers have turned toward streaming platforms like YouTube and Spotify to consume music [Relation] cause [Effect]  sales of albums and singles, either physical or digital, have collapsed over the last decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Janus' lower fee structure will probably compensate for its middle-of-the road fund performance, limiting the overall impact of the changes we've seen in retail fund distribution the last five years.",
    "output": "[Cause] Janus' lower fee structure will probably compensate for its middle-of-the road fund performance [Relation] prevent [Effect] the overall impact of the changes we've seen in retail fund distribution the last five years",
    "gold": "[Cause] Janus' lower fee structure will probably compensate for its middle-of-the road fund performance [Relation] prevent [Effect] the overall impact of the changes we've seen in retail fund distribution the last five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to the labor-intensive nature of protein processing, employees are required to stand near one another, which has led to COVID-19 outbreaks at some plants, causing some closures or slower line speeds (constraining beef and pork capacity).",
    "output": "[Cause] the labor-intensive nature of protein processing [Relation] cause [Effect] employees are required to stand near one another",
    "gold": "[Cause]  the labor-intensive nature of protein processing [Relation] cause [Effect] employees are required to stand near one another",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to the labor-intensive nature of protein processing, employees are required to stand near one another, which has led to COVID-19 outbreaks at some plants, causing some closures or slower line speeds (constraining beef and pork capacity).",
    "output": "[Cause] COVID-19 outbreaks at some plants [Relation] cause [Effect] some closures or slower line speeds",
    "gold": "[Cause] employees are required to stand near one another [Relation] cause [Effect] COVID-19 outbreaks at some plants",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Due to the labor-intensive nature of protein processing, employees are required to stand near one another, which has led to COVID-19 outbreaks at some plants, causing some closures or slower line speeds (constraining beef and pork capacity).",
    "output": "[Cause] COVID-19 outbreaks at some plants [Relation] cause [Effect] some closures or slower line speeds",
    "gold": "[Cause] COVID-19 outbreaks at some plants [Relation] cause [Effect]  some closures or slower line speeds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project annual sales increases of 11% during the next five years as a result of new drug launches offsetting patent losses.",
    "output": "[Cause] new drug launches offsetting patent losses [Relation] cause [Effect] annual sales increases of 11% during the next five years",
    "gold": "[Cause]  new drug launches offsetting patent losses [Relation] enable [Effect] annual sales increases of 11% during the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Globalization of businesses in various verticals has increased demand not only for vertical-specific advertising expertise, but also for experience, knowledge, and a clearer understanding of different cultures and regulations.",
    "output": "[Cause] Globalization of businesses in various verticals [Relation] cause [Effect] increased demand not only for vertical-specific advertising expertise, but also for experience, knowledge, and a clearer understanding of different cultures and regulations",
    "gold": "[Cause] Globalization of businesses in various verticals [Relation] enable [Effect] increased demand not only for vertical-specific advertising expertise, but also for experience, knowledge, and a clearer understanding of different cultures and regulations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2018, the government forced operators to remove data roaming fees which slowed services revenue growth drastically in the third quarter and will impact on wireless service growth rates until the second half of 2019.",
    "output": "[Cause] the government forced operators to remove data roaming fees [Relation] cause [Effect] slowed services revenue growth drastically in the third quarter and will impact on wireless service growth rates until the second half of 2019",
    "gold": "[Cause] the government forced operators to remove data roaming fees [Relation] cause [Effect] slowed services revenue growth drastically in the third quarter and will impact on wireless service growth rates until the second half of 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Similarly, international demand for natural gas liquids is also on the upswing due to mainly industrial applications as well as displacing biomass for use residential heating.",
    "output": "[Cause] displacing biomass for use residential heating [Relation] cause [Effect] international demand for natural gas liquids is also on the upswing",
    "gold": "[Cause] displacing biomass for use residential heating [Relation] cause [Effect] international demand for natural gas liquids is also on the upswing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, Nokia's solutions facilitate the transfer of data and could be the target of cyberattacks, making data privacy and security a key concern.",
    "output": "[Cause] Nokia's solutions facilitate the transfer of data and could be the target of cyberattacks [Relation] cause [Effect] data privacy and security a key concern",
    "gold": "[Cause] Nokia's solutions facilitate the transfer of data and could be the target of cyberattacks [Relation] cause [Effect] data privacy and security a key concern",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the past, this has resulted in losses for PetroChina, as the costs of imports are higher than the realized prices.",
    "output": "[Cause] the costs of imports are higher than the realized prices [Relation] cause [Effect] losses for PetroChina",
    "gold": "[Cause] the costs of imports are higher than the realized prices [Relation] cause [Effect] losses for PetroChina",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Wiley's products targeted to the professional community are affected by economic conditions, which can cause firms to change head count and training expenditures (though its education offerings often deliver an offsetting benefit as a soft economy tends to lead to higher student enrollment).",
    "output": "[Cause] Wiley's products targeted to the professional community are affected by economic conditions [Relation] cause [Effect] firms to change head count and training expenditures",
    "gold": "[Cause] Wiley's products targeted to the professional community are affected by economic conditions [Relation] cause [Effect] firms to change head count and training expenditures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Smartphones can be used for most PC tasks and we believe that the computer hardware refresh cycle could grow beyond the historical average of three to four years as cloud-based software updates extend the life of existing hardware.",
    "output": "[Cause] cloud-based software updates extend the life of existing hardware [Relation] cause [Effect] the computer hardware refresh cycle could grow beyond the historical average of three to four years",
    "gold": "[Cause] cloud-based software updates extend the life of existing hardware [Relation] enable [Effect] the computer hardware refresh cycle could grow beyond the historical average of three to four years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to production and supply chain disruptions and the resulting impact on profits and cash flows as a result of COVID-19, we expect free cash flow (preacquisitions of GBP 1.8 billion) to decline by GBP 300 million to GBP 800 million in 2020, from GBP 1.1 billion in 2019.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] production and supply chain disruptions and the resulting impact on profits and cash flows",
    "gold": "[Cause]  COVID-19 [Relation] cause [Effect] production and supply chain disruptions and the resulting impact on profits and cash flows",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to production and supply chain disruptions and the resulting impact on profits and cash flows as a result of COVID-19, we expect free cash flow (preacquisitions of GBP 1.8 billion) to decline by GBP 300 million to GBP 800 million in 2020, from GBP 1.1 billion in 2019.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] production and supply chain disruptions and the resulting impact on profits and cash flows",
    "gold": "[Cause] production and supply chain disruptions and the resulting impact on profits and cash flows [Relation] cause [Effect]  free cash flow (preacquisitions of GBP 1.8 billion) to decline",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The geopolitical risk is broad, as any number of unpredictable events such as wars, pandemics, international tension, and natural disasters affect travel.",
    "output": "[Cause] any number of unpredictable events such as wars, pandemics, international tension, and natural disasters affect travel [Relation] cause [Effect] The geopolitical risk is broad",
    "gold": "[Cause] any number of unpredictable events such as wars, pandemics, international tension, and natural disasters affect travel [Relation] cause [Effect] The geopolitical risk is broad",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our forecast calls for low-single-digit earnings growth in 2021 as comparables will be challenging, but a return to high-single-digit earnings growth in subsequent years.",
    "output": "[Cause] comparables will be challenging [Relation] cause [Effect] low-single-digit earnings growth in 2021",
    "gold": "[Cause] comparables will be challenging [Relation] cause [Effect] low-single-digit earnings growth in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The direct annual cost of diabetes in the United States today is over $500 billion, a significant burden on insurers.",
    "output": "[Cause] The direct annual cost of diabetes in the United States today is over $500 billion [Relation] cause [Effect] a significant burden on insurers",
    "gold": "[Cause] The direct annual cost of diabetes in the United States today is over $500 billion [Relation] cause [Effect] a significant burden on insurers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After incorporating Huntington Ingall's planned acquisition of Alion Science and Technology into our model, we are maintaining our $201 per share fair value estimate for the firm.",
    "output": "[Cause] incorporating Huntington Ingall's planned acquisition of Alion Science and Technology into our model [Relation] cause [Effect] we are maintaining our $201 per share fair value estimate for the firm",
    "gold": "[Cause] incorporating Huntington Ingall's planned acquisition of Alion Science and Technology into our model [Relation] cause [Effect] we are maintaining our $201 per share fair value estimate for the firm",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lastly, global oil companies such as Exxon often operate in frontier areas such as Guyana, Mozambique, or Papua New Guinea, where oil and gas development is new and can cause friction with local communities.",
    "output": "[Cause] oil and gas development is new [Relation] cause [Effect] friction with local communities",
    "gold": "[Cause] global oil companies such as Exxon often operate in frontier areas [Relation] cause [Effect]  friction with local communities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our analysis also shows that once an e-commerce platform reaches more than 10%-15% of its operating regions' population as active users, it becomes very difficult for competitors to unseat it and can lead to an extended period of excess economic returns.",
    "output": "[Cause] an e-commerce platform reaches more than 10%-15% of its operating regions' population as active users [Relation] cause [Effect] very difficult for competitors to unseat it and can lead to an extended period of excess economic returns",
    "gold": "[Cause] an e-commerce platform reaches more than 10%-15% of its operating regions' population as active users [Relation] cause [Effect] very difficult for competitors to unseat it and can lead to an extended period of excess economic returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that Nordson's equipment often performs a critical function in the production process, we believe that customers tend to replace components like-for-like and are reluctant to switch vendors as the potential cost of unscheduled downtime could far outweigh incremental cost savings from switching to a cheaper alternative.",
    "output": "[Cause] Nordson's equipment often performs a critical function in the production process [Relation] cause [Effect] customers tend to replace components like-for-like and are reluctant to switch vendors as the potential cost of unscheduled downtime could far outweigh incremental cost savings from switching to a cheaper alternative",
    "gold": "[Cause]  potential cost of unscheduled downtime could far outweigh incremental cost savings from switching to a cheaper alternative. [Relation] cause [Effect]  customers tend to replace components like-for-like and are reluctant to switch vendors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With a business model focused on retail banking, Santander has less exposure to sovereign debt (14% of total assets) than most banks with larger investment banking operations.",
    "output": "[Cause] a business model focused on retail banking [Relation] cause [Effect] Santander has less exposure to sovereign debt (14% of total assets) than most banks with larger investment banking operations",
    "gold": "[Cause] a business model focused on retail banking [Relation] cause [Effect] Santander has less exposure to sovereign debt (14% of total assets) than most banks with larger investment banking operations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With all but two of its 9,000-plus hotels managed or franchised, Wyndham has an attractive recurring-fee business model with healthy returns on invested capital, as these asset-light relationships have low fixed costs and capital requirements.",
    "output": "[Cause] all but two of its 9,000-plus hotels managed or franchised [Relation] cause [Effect] Wyndham has an attractive recurring-fee business model with healthy returns on invested capital",
    "gold": "[Cause] all but two of its 9,000-plus hotels managed or franchised [Relation] cause [Effect]  Wyndham has an attractive recurring-fee business model with healthy returns on invested capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With all but two of its 9,000-plus hotels managed or franchised, Wyndham has an attractive recurring-fee business model with healthy returns on invested capital, as these asset-light relationships have low fixed costs and capital requirements.",
    "output": "[Cause] these asset-light relationships have low fixed costs and capital requirements [Relation] cause [Effect] Wyndham has an attractive recurring-fee business model with healthy returns on invested capital",
    "gold": "[Cause] these asset-light relationships have low fixed costs and capital requirements [Relation] cause [Effect]  Wyndham has an attractive recurring-fee business model with healthy returns on invested capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the company's operating leverage, we expect gross margin to increase by 100 basis points over the next five years as the company looks to overhaul its pricing structure.",
    "output": "[Cause] the company looks to overhaul its pricing structure [Relation] cause [Effect] gross margin to increase by 100 basis points over the next five years",
    "gold": "[Cause]  gross margin to increase by 100 basis points over the next five years [Relation] cause [Effect] the company looks to overhaul its pricing structure",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Reflecting strong third-quarter profitability (7.5% operating margin versus our 6.7% expectation), we are lifting our valuation of Dollar Tree to $96 per share from $92.",
    "output": "[Cause] strong third-quarter profitability [Relation] cause [Effect] we are lifting our valuation of Dollar Tree to $96 per share from $92",
    "gold": "[Cause]  strong third-quarter profitability [Relation] enable [Effect]  we are lifting our valuation of Dollar Tree to $96 per share from $92",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In turn, as the number of drivers increased, the timeliness and reliability of the service improved, which drove the number of users or riders higher, which in turn attracted more drivers, all of which indicates a network effect.",
    "output": "[Cause] the number of drivers increased [Relation] cause [Effect] the timeliness and reliability of the service improved",
    "gold": "[Cause]  the number of drivers increased [Relation] enable [Effect]  the timeliness and reliability of the service improved",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In turn, as the number of drivers increased, the timeliness and reliability of the service improved, which drove the number of users or riders higher, which in turn attracted more drivers, all of which indicates a network effect.",
    "output": "[Cause] the timeliness and reliability of the service improved [Relation] cause [Effect] the number of users or riders higher",
    "gold": "[Cause]  the timeliness and reliability of the service improved [Relation] enable [Effect]  the number of users or riders higher",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In turn, as the number of drivers increased, the timeliness and reliability of the service improved, which drove the number of users or riders higher, which in turn attracted more drivers, all of which indicates a network effect.",
    "output": "[Cause] the timeliness and reliability of the service improved [Relation] cause [Effect] the number of users or riders higher",
    "gold": "[Cause]  the number of users or riders higher [Relation] enable [Effect]  in turn attracted more drivers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the global nature of the business reduces the risk of its Spain domicile, as roughly 95% of sales are outside Spain.",
    "output": "[Cause] roughly 95% of sales are outside Spain [Relation] cause [Effect] the global nature of the business reduces the risk of its Spain domicile",
    "gold": "[Cause] roughly 95% of sales are outside Spain [Relation] cause [Effect] the global nature of the business reduces the risk of its Spain domicile",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Both Rio and Vale overinvested to a greater degree than BHP in the boom, more greatly diluting long-term returns.",
    "output": "[Cause] Both Rio and Vale overinvested to a greater degree than BHP in the boom [Relation] cause [Effect] diluting long-term returns",
    "gold": "[Cause] Both Rio and Vale overinvested to a greater degree than BHP in the boom [Relation] cause [Effect] diluting long-term returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Phillips 66's limited partner and general partner interests in PSXP further raise the opportunity costs for Phillips 66 to switch away from PSXP's services.",
    "output": "[Cause] Phillips 66's limited partner and general partner interests in PSXP [Relation] cause [Effect] raise the opportunity costs for Phillips 66 to switch away from PSXP's services",
    "gold": "[Cause] switch away from PSXP's services [Relation] cause [Effect] Phillips 66's limited partner and general partner interests in PSXP further raise the opportunity costs for Phillips 66",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Overall, pro-employment subsidies can increase demand in certain markets, countries adopting more stringent labor laws often cause pay rates to climb as regulations specify pay scales, benefits, or other contract terms.",
    "output": "[Cause] pro-employment subsidies [Relation] cause [Effect] increase demand in certain markets",
    "gold": "[Cause] pro-employment subsidies [Relation] enable [Effect] increase demand in certain markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Alongside ease of use, TwiML serves a second purpose--it is not compatible with other services, making it very difficult for developers to move an application built on the Twilio platform to another service.",
    "output": "[Cause] it is not compatible with other services [Relation] cause [Effect] very difficult for developers to move an application built on the Twilio platform to another service",
    "gold": "[Cause] ease of use | TwiML serves a second purpose--it is not compatible with other services [Relation] prevent [Effect] developers to move an application built on the Twilio platform to another service.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although Hexcel's products reduce fuel burn and thus the carbon intensity of an aircraft, they also allow airlines to pass the savings along to customers in the form of lower ticket prices, which encourages additional flights.",
    "output": "[Cause] Hexcel's products reduce fuel burn and thus the carbon intensity of an aircraft [Relation] enable [Effect] they also allow airlines to pass the savings along to customers in the form of lower ticket prices, which encourages additional flights",
    "gold": "[Cause] they also allow airlines to pass the savings along to customers in the form of lower ticket prices [Relation] enable [Effect] encourages additional flights",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm has demonstrated consistent operating margin expansion through cost controls during the past five years, which we expect to continue through the next few years, highlighting the success of IPG's turnaround, which began more than 10 years ago.",
    "output": "[Cause] The firm has demonstrated consistent operating margin expansion through cost controls during the past five years [Relation] enable [Effect] we expect to continue through the next few years, highlighting the success of IPG's turnaround, which began more than 10 years ago",
    "gold": "[Cause] The firm has demonstrated consistent operating margin expansion through cost controls during the past five years [Relation] enable [Effect] which we expect to continue through the next few years, highlighting the success of IPG's turnaround, which began more than 10 years ag",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Medtronic had expressed interest in developing a competitive patch pump eight years ago, but after several years of working on it, the firm turned its attention to furthering the technology of its traditional tubed insulin pump to increase the automation of its products.",
    "output": "[Cause] Medtronic had expressed interest in developing a competitive patch pump eight years ago, but after several years of working on it, the firm turned its attention to furthering the technology of its traditional tubed insulin pump [Relation] enable [Effect] increase the automation of its products",
    "gold": "[Cause] increase the automation of its products [Relation] cause [Effect] the firm turned its attention to furthering the technology of its traditional tubed insulin pump",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Switching costs exist here due to customer pain points, as well as strict building codes related to seismic or energy-efficiency requirements.",
    "output": "[Cause] customer pain points, as well as strict building codes related to seismic or energy-efficiency requirements [Relation] cause [Effect] Switching costs exist here",
    "gold": "[Cause] customer pain points, as well as strict building codes related to seismic or energy-efficiency requirements [Relation] cause [Effect] Switching costs exist here",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The Novartis and Hologic diagnostics acquisitions boosted diagnostics to roughly 15% of Grifols' sales, which helps to diversify the firm's profits and reduces reliance on plasma protein sales.",
    "output": "[Cause] The Novartis and Hologic diagnostics acquisitions boosted diagnostics to roughly 15% of Grifols' sales [Relation] enable [Effect] diversify the firm's profits and reduces reliance on plasma protein sales",
    "gold": "[Cause] The Novartis and Hologic diagnostics acquisitions boosted diagnostics to roughly 15% of Grifols' sales [Relation] enable [Effect] diversify the firm's profits and reduces reliance on plasma protein sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, for users involved in customer communications, this could lead to disruption in services, which may lead to frustration and a loss of customers.",
    "output": "[Cause] disruption in services [Relation] cause [Effect] frustration and a loss of customers",
    "gold": "[Cause] disruption in services [Relation] cause [Effect]  frustration and a loss of customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, the crisis forced the suspension of nearly all amateur and professional sports, causing a severe drop in demand for some of Under Armour's athletic gear.",
    "output": "[Cause] the crisis [Relation] cause [Effect] the suspension of nearly all amateur and professional sports",
    "gold": "[Cause] the crisis [Relation] enable [Effect]  the suspension of nearly all amateur and professional sports",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If customer habits change faster than we expect, the need to increase Internet access pricing as an offset could accelerate as well and surpass levels acceptable to regulators.",
    "output": "[Cause] customer habits change faster than we expect [Relation] cause [Effect] the need to increase Internet access pricing as an offset could accelerate as well and surpass levels acceptable to regulators",
    "gold": "[Cause]  customer habits change faster than we expect [Relation] enable [Effect] the need to increase Internet access pricing as an offset could accelerate as well and surpass levels acceptable to regulators",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In this regard, we see a synergistic relationship between Constellation's robust beer portfolio and its wine and spirits offerings that serves to increase its clout within the supply chain.",
    "output": "[Cause] a synergistic relationship between Constellation's robust beer portfolio and its wine and spirits offerings [Relation] enable [Effect] increase its clout within the supply chain",
    "gold": "[Cause] a synergistic relationship between Constellation's robust beer portfolio and its wine and spirits offerings [Relation] enable [Effect] increase its clout within the supply chain",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the increasing importance of more focused marketing and return on investment for advertisers, Weibo has started to catch up.",
    "output": "[Cause] the increasing importance of more focused marketing and return on investment for advertisers [Relation] cause [Effect] Weibo has started to catch up",
    "gold": "[Cause] the increasing importance of more focused marketing and return on investment for advertisers [Relation] enable [Effect] Weibo has started to catch up",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, healthcare policy risks may plague health insurers until affordable, universal coverage is achieved, which is Centene's key ESG risk.",
    "output": "[Cause] affordable, universal coverage is achieved [Relation] cause [Effect] healthcare policy risks may plague health insurers",
    "gold": "[Cause]  healthcare policy risks [Relation] cause [Effect] plague health insurers until affordable, universal coverage is achieved, which is Centene's key ESG risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Ecolab is the largest player in the fragmented cleaning and sanitation industry, which allows it to service large global organizations that are outside the reach of local and regional players.",
    "output": "[Cause] Ecolab is the largest player in the fragmented cleaning and sanitation industry [Relation] enable [Effect] it to service large global organizations that are outside the reach of local and regional players",
    "gold": "[Cause] Ecolab is the largest player in the fragmented cleaning and sanitation industry [Relation] enable [Effect]  it to service large global organizations that are outside the reach of local and regional players",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As VS segment margins have trailed that of Bath & Body Works (BBW), we expect its performance will become less of a drag when a sale or spin-off of the brand is executed, which is set to occur by August 2021.",
    "output": "[Cause] VS segment margins have trailed that of Bath & Body Works (BBW) [Relation] cause [Effect] its performance will become less of a drag when a sale or spin-off of the brand is executed",
    "gold": "[Cause] VS segment margins have trailed that of Bath & Body Works (BBW) [Relation] cause [Effect]  its performance will become less of a drag when a sale or spin-off of the brand is executed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While these projects typically only account for about one fifth of reservoir description revenue, Core Lab is able to monetize the value from the network throughout its entire reservoir description segment via its ability to develop better technologies and data analysis techniques as a result of the project.",
    "output": "[Cause] Core Lab is able to monetize the value from the network throughout its entire reservoir description segment via its ability to develop better technologies and data analysis techniques [Relation] enable [Effect] while these projects typically only account for about one fifth of reservoir description revenue",
    "gold": "[Cause]  develop better technologies and data analysis techniques as a result of the project [Relation] enable [Effect]  Core Lab is able to monetize the value from the network throughout its entire reservoir description segment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Shoppers are consuming more food at home during the pandemic, and Sprouts should continue to benefit, with upside in the event of more lockdowns in its main markets.",
    "output": "[Cause] Shoppers are consuming more food at home during the pandemic [Relation] cause [Effect] Sprouts should continue to benefit, with upside in the event of more lockdowns in its main markets",
    "gold": "[Cause] more lockdowns in its main markets [Relation] enable [Effect] Shoppers are consuming more food at home during the pandemic, and Sprouts should continue to benefit, with upside",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This discourages the introduction of new clearinghouses, as a new entrant provides little risk mitigation to its members until it can establish a userbase.",
    "output": "[Cause] a new entrant provides little risk mitigation to its members until it can establish a userbase [Relation] cause [Effect] discourages the introduction of new clearinghouses",
    "gold": "[Cause] a new entrant provides little risk mitigation to its members until it can establish a userbase [Relation] cause [Effect] discourages the introduction of new clearinghouses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A cap on growth of tables will, in our view, ensure that demand outstrips supply by a wide margin, allowing Melco Resorts' returns on invested capital to easily exceed its weighted average cost of capital during the next 10 years.",
    "output": "[Cause] A cap on growth of tables [Relation] enable [Effect] demand outstrips supply by a wide margin",
    "gold": "[Cause] A cap on growth of tables [Relation] cause [Effect] demand outstrips supply by a wide margin",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A cap on growth of tables will, in our view, ensure that demand outstrips supply by a wide margin, allowing Melco Resorts' returns on invested capital to easily exceed its weighted average cost of capital during the next 10 years.",
    "output": "[Cause] demand outstrips supply by a wide margin [Relation] enable [Effect] Melco Resorts' returns on invested capital to easily exceed its weighted average cost of capital during the next 10 years",
    "gold": "[Cause] demand outstrips supply by a wide margin [Relation] enable [Effect] Melco Resorts' returns on invested capital to easily exceed its weighted average cost of capital during the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, we think Infosys will continue to make its way into the European market, as European enterprises have become increasingly comfortable with outsourcing to offshore centers.",
    "output": "[Cause] European enterprises have become increasingly comfortable with outsourcing to offshore centers [Relation] cause [Effect] Infosys will continue to make its way into the European market",
    "gold": "[Cause] European enterprises have become increasingly comfortable with outsourcing to offshore centers [Relation] cause [Effect] Infosys will continue to make its way into the European market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our revenue and margin assumptions reflect higher premium brand volume and cost reduction on greater common-platform use improves operating leverage.",
    "output": "[Cause] higher premium brand volume and cost reduction on greater common-platform use [Relation] enable [Effect] improves operating leverage",
    "gold": "[Cause] Our revenue and margin assumptions [Relation] enable [Effect]  reflect higher premium brand volume and cost reduction on greater common-platform use improves operating leverage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These instruments are important in a manufacturing process because they're vital for retrieving information quickly and accurately for optimum productivity.",
    "output": "[Cause] they're vital for retrieving information quickly and accurately for optimum productivity [Relation] cause [Effect] These instruments are important in a manufacturing process",
    "gold": "[Cause] they're vital for retrieving information quickly and accurately for optimum productivity [Relation] cause [Effect] These instruments are important in a manufacturing process",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The 10% sales growth stems from 3% of sales stimulus from source books, 4% growth from adjacent offerings (hospitality, guesthouse) and 3% average square footage growth as RH converts gallery locations both domestically and expands abroad.",
    "output": "[Cause] RH converts gallery locations both domestically and expands abroad [Relation] cause [Effect] The 10% sales growth stems from 3% of sales stimulus from source books, 4% growth from adjacent offerings (hospitality, guesthouse) and 3% average square footage growth",
    "gold": "[Cause] RH converts gallery locations both domestically and expands abroad [Relation] enable [Effect] The 10% sales growth stems from 3% of sales stimulus from source books, 4% growth from adjacent offerings (hospitality, guesthouse) and 3% average square footage growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company has largely avoided irrational competition with OEMs by limiting market share on any part to about 30% with just a few customers.",
    "output": "[Cause] limiting market share on any part to about 30% with just a few customers [Relation] enable [Effect] The company has largely avoided irrational competition with OEMs",
    "gold": "[Cause] The company has largely avoided irrational competition with OEMs [Relation] cause [Effect] limiting market share on any part to about 30% with just a few customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given these rational customers allow Snap-on to maintain healthy margins in this segment, we believe the segment's intangible assets are weighted more toward intellectual property in the actual design of the tools and are slightly less reliant on brand value.",
    "output": "[Cause] these rational customers allow Snap-on to maintain healthy margins in this segment [Relation] cause [Effect] the segment's intangible assets are weighted more toward intellectual property in the actual design of the tools and are slightly less reliant on brand value",
    "gold": "[Cause]  these rational customers allow Snap-on to maintain healthy margins in this segment [Relation] enable [Effect] the segment's intangible assets are weighted more toward intellectual property in the actual design of the tools and are slightly less reliant on brand value",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Shifts away from equity strategies can have an impact as well, with management fees typically being much lower for fixed-income funds.",
    "output": "[Cause] Shifts away from equity strategies [Relation] cause [Effect] have an impact as well",
    "gold": "[Cause] management fees typically being much lower for fixed-income funds [Relation] cause [Effect] Shifts away from equity strategies can have an impact",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company's return on investment capital, or ROIC, has consistently improved since 2011 because of the sale of its underperforming businesses, increased volume supported by strengthening end-market demand and Specialty Industrial Machinerymarket share gains, and successful cost-reduction initiatives.",
    "output": "[Cause] the sale of its underperforming businesses, increased volume supported by strengthening end-market demand and Specialty Industrial Machinerymarket share gains, and successful cost-reduction initiatives [Relation] cause [Effect] The company's return on investment capital, or ROIC, has consistently improved since 2011",
    "gold": "[Cause] the sale of its underperforming businesses, increased volume supported by strengthening end-market demand and Specialty Industrial Machinerymarket share gains, and successful cost-reduction initiatives [Relation] cause [Effect] The company's return on investment capital, or ROIC, has consistently improved since 2011",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Improved profitability and efficient capital expenditure plans should help Baxter generate $2.7 billion in free cash flow by 2024, up from $1.4 billion in 2019.",
    "output": "[Cause] Improved profitability and efficient capital expenditure plans [Relation] enable [Effect] Baxter generate $2.7 billion in free cash flow by 2024, up from $1.4 billion in 2019",
    "gold": "[Cause] Improved profitability and efficient capital expenditure plans [Relation] enable [Effect] Baxter generate $2.7 billion in free cash flow by 2024, up from $1.4 billion in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The gradual sprawl of metro areas tends to drive timberland valuations higher in some areas, making it prudent to cull and replace those acres with more rural plots of land.",
    "output": "[Cause] The gradual sprawl of metro areas tends to drive timberland valuations higher in some areas [Relation] cause [Effect] it prudent to cull and replace those acres with more rural plots of land",
    "gold": "[Cause] The gradual sprawl of metro areas [Relation] cause [Effect] drive timberland valuations higher",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Recently, narrow-body volumes have increased substantially due to the rise globally of low-cost carriers and improved technology that allows smaller airplanes to operate flight paths that were previously unprofitable.",
    "output": "[Cause] the rise globally of low-cost carriers and improved technology [Relation] cause [Effect] narrow-body volumes have increased substantially",
    "gold": "[Cause]  the rise globally of low-cost carriers and improved technology [Relation] cause [Effect] narrow-body volumes have increased substantially",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Recently, narrow-body volumes have increased substantially due to the rise globally of low-cost carriers and improved technology that allows smaller airplanes to operate flight paths that were previously unprofitable.",
    "output": "[Cause] the rise globally of low-cost carriers and improved technology [Relation] enable [Effect] smaller airplanes to operate flight paths that were previously unprofitable",
    "gold": "[Cause]  the rise globally of low-cost carriers and improved technology [Relation] enable [Effect]  smaller airplanes to operate flight paths that were previously unprofitable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the company's international presence provides new growth opportunities, diversifies revenue, and dampens cyclicality, it also exposes the company to foreign currency, economic, operational, and political risks.",
    "output": "[Cause] the company's international presence [Relation] cause [Effect] new growth opportunities, diversifies revenue, and dampens cyclicality",
    "gold": "[Cause] new growth opportunities, diversifies revenue, and dampens cyclicality [Relation] cause [Effect]  exposes the company to foreign currency, economic, operational, and political risks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This is 270 basis points below the adjusted margin achieved in 2020, primarily because we think BAT's indiscriminate approach to next generation product investment is likely to reduce the margin benefits of scale in the medium term.",
    "output": "[Cause] BAT's indiscriminate approach to next generation product investment is likely to reduce the margin benefits of scale in the medium term [Relation] cause [Effect] This is 270 basis points below the adjusted margin achieved in 2020",
    "gold": "[Cause] BAT's indiscriminate approach to next generation product investment is likely to reduce the margin benefits of scale in the medium term [Relation] cause [Effect] This is 270 basis points below the adjusted margin achieved in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, Williams overpaid for G&amp;P assets during peak industry conditions, resulting in more than $7 billion of impairments in 2015-18.",
    "output": "[Cause] Williams overpaid for G&amp;P assets during peak industry conditions [Relation] cause [Effect] more than $7 billion of impairments in 2015-18",
    "gold": "[Cause] Williams overpaid for G&amp;P assets during peak industry conditions [Relation] cause [Effect] more than $7 billion of impairments in 2015-18",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Rising miles driven prior to the pandemic (up 1% in fiscal 2019) and vehicle age (11.9 years in 2020 versus 10.6 years in 2010) boosted AutoZone over the last decade.",
    "output": "[Cause] Rising miles driven prior to the pandemic (up 1% in fiscal 2019) and vehicle age (11.9 years in 2020 versus 10.6 years in 2010) [Relation] enable [Effect] boosted AutoZone over the last decade",
    "gold": "[Cause] Rising miles driven prior to the pandemic (up 1% in fiscal 2019) and vehicle age (11.9 years in 2020 versus 10.6 years in 2010) [Relation] enable [Effect] boosted AutoZone over the last decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As electric vehicle penetration increases, we expect high-double-digit annual growth for global lithium demand, one of the best growth profiles among commodities.",
    "output": "[Cause] electric vehicle penetration increases [Relation] cause [Effect] high-double-digit annual growth for global lithium demand",
    "gold": "[Cause]  electric vehicle penetration increases [Relation] cause [Effect] high-double-digit annual growth for global lithium demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although most dealerships are good businesses, we think the large publicly traded dealers are best positioned for growth going forward since these firms can be the most flexible in changing brand mix.",
    "output": "[Cause] these firms can be the most flexible in changing brand mix [Relation] cause [Effect] the large publicly traded dealers are best positioned for growth going forward",
    "gold": "[Cause] these firms can be the most flexible in changing brand mix [Relation] cause [Effect] the large publicly traded dealers are best positioned for growth going forward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the middle-market investment banking and advisory industry remains intensely competitive, we believe KeyCorp's improved scale and product capabilities will make the bank competitive.",
    "output": "[Cause] KeyCorp's improved scale and product capabilities [Relation] enable [Effect] make the bank competitive",
    "gold": "[Cause]  KeyCorp's improved scale and product capabilities [Relation] enable [Effect] make the bank competitive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, Post's structure as a decentralized holding company results in higher selling, general, and administrative expenditures (11% of sales excluding depreciation and amortization, compared with the 8% peer average), which makes a cost advantage unlikely.",
    "output": "[Cause] Post's structure as a decentralized holding company [Relation] cause [Effect] higher selling, general, and administrative expenditures",
    "gold": "[Cause] Post's structure as a decentralized holding company [Relation] cause [Effect]  higher selling, general, and administrative expenditures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There is a vast amount of data stored with Verisign's servers, giving rise to the risk of data breaches for Verisign.",
    "output": "[Cause] There is a vast amount of data stored with Verisign's servers [Relation] cause [Effect] the risk of data breaches for Verisign",
    "gold": "[Cause] There is a vast amount of data stored with Verisign's servers [Relation] cause [Effect] the risk of data breaches for Verisign",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Seagate has intangible assets within the HDD space, as well as a cost advantage in manufacturing them, but these competitive advantages are unlikely to generate excess returns on capital over the next decade as the storage solution continues to decline.",
    "output": "[Cause] the storage solution continues to decline [Relation] cause [Effect] these competitive advantages are unlikely to generate excess returns on capital over the next decade",
    "gold": "[Cause] the storage solution continues to decline [Relation] cause [Effect] these competitive advantages are unlikely to generate excess returns on capital over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A drop in stock price or a rise in interest rates will increase the cost to acquire, which narrows the spread between the company's weighted average cost of capital and the acquisition cap rate, and reduce the value it can create from external growth.",
    "output": "[Cause] A drop in stock price or a rise in interest rates [Relation] cause [Effect] increase the cost to acquire",
    "gold": "[Cause] A drop in stock price or a rise in interest rates [Relation] cause [Effect] increase the cost to acquire",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A drop in stock price or a rise in interest rates will increase the cost to acquire, which narrows the spread between the company's weighted average cost of capital and the acquisition cap rate, and reduce the value it can create from external growth.",
    "output": "[Cause] A drop in stock price or a rise in interest rates [Relation] cause [Effect] increase the cost to acquire",
    "gold": "[Cause] A drop in stock price or a rise in interest rates will increase the cost to acquire [Relation] cause [Effect] narrows the spread between the company's weighted average cost of capital and the acquisition cap rate, and reduce the value it can create from external growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we believe Kroger has done well to embrace the industry's future, consumer buying habits are unsettled as food purchases are increasingly nationalized, upending the traditional distance- and routine-based relationship between customers and grocers.",
    "output": "[Cause] food purchases are increasingly nationalized [Relation] cause [Effect] consumer buying habits are unsettled",
    "gold": "[Cause] upending the traditional distance- and routine-based relationship between customers and grocers [Relation] cause [Effect]  consumer buying habits are unsettled as food purchases are increasingly nationalized",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To manufacture these specialized product offerings, Carpenter employs production methods that are difficult to replicate. As a result, the market structure for specialty alloy and high-performance metal production is very different than that associated with the production of commodity-grade metal products such as flat-rolled steel.",
    "output": "[Cause] To manufacture these specialized product offerings, Carpenter employs production methods that are difficult to replicate [Relation] cause [Effect] the market structure for specialty alloy and high-performance metal production is very different than that associated with the production of commodity-grade metal products such as flat-rolled steel",
    "gold": "[Cause] To manufacture these specialized product offerings, Carpenter employs production methods that are difficult to replicate [Relation] cause [Effect] the market structure for specialty alloy and high-performance metal production is very different than that associated with the production of commodity-grade metal products such as flat-rolled steel",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Higher commodity prices during 2020 have led to an increase in demand for Sandvik's mining equipment and services, which account for 46% of group sales.",
    "output": "[Cause] Higher commodity prices during 2020 [Relation] cause [Effect] an increase in demand for Sandvik's mining equipment and services, which account for 46% of group sales",
    "gold": "[Cause] Higher commodity prices during 2020 [Relation] cause [Effect]  an increase in demand for Sandvik's mining equipment and services, which account for 46% of group sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "When combined with labor staffing efficiencies and streamlined operations, Chipotle continues to generate impressive restaurant-level profits and remains well positioned for significant market share gains during as the industry recovers.",
    "output": "[Cause] combined with labor staffing efficiencies and streamlined operations [Relation] enable [Effect] Chipotle continues to generate impressive restaurant-level profits and remains well positioned for significant market share gains during as the industry recovers",
    "gold": "[Cause]  combined with labor staffing efficiencies and streamlined operations [Relation] cause [Effect] Chipotle continues to generate impressive restaurant-level profits and remains well positioned for significant market share gains during as the industry recovers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The high costs and regulatory hurdles of FDA approval should allow Perrigo to maintain its relative monopoly in the store-brand infant formula market (the other three products are branded).",
    "output": "[Cause] The high costs and regulatory hurdles of FDA approval [Relation] enable [Effect] Perrigo to maintain its relative monopoly in the store-brand infant formula market",
    "gold": "[Cause] The high costs and regulatory hurdles of FDA approval [Relation] cause [Effect] Perrigo to maintain its relative monopoly in the store-brand infant formula market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As mentioned, several also offer CDN services to customers, and we think the only things preventing them from taking greater share are choosing to more aggressively broaden their networks beyond the confines of what they need to sufficiently meet their own needs.",
    "output": "[Cause] choosing to more aggressively broaden their networks beyond the confines of what they need to sufficiently meet their own needs [Relation] prevent [Effect] them from taking greater share",
    "gold": "[Cause] choosing to more aggressively broaden their networks beyond the confines of what they need to sufficiently meet their own needs [Relation] prevent [Effect] them from taking greater share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Beyond the potential for the erosion of Tenaris' advantage in premium OCTG products, there is potential for material value destruction owing to severe overcapacity in global OCTG markets.",
    "output": "[Cause] severe overcapacity in global OCTG markets [Relation] cause [Effect] Beyond the potential for the erosion of Tenaris' advantage in premium OCTG products, there is potential for material value destruction",
    "gold": "[Cause] severe overcapacity in global OCTG markets [Relation] cause [Effect] Beyond the potential for the erosion of Tenaris' advantage in premium OCTG products, there is potential for material value destruction",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Telenor should be able to balance the timing of its 5G investments in its geographic markets, and as a result, we expect its total capital spending to remain at about NOK 20 billion-22 billion, or about 16%-17% of sales, throughout our five-year explicit forecast period.",
    "output": "[Cause] Telenor should be able to balance the timing of its 5G investments in its geographic markets [Relation] cause [Effect] its total capital spending to remain at about NOK 20 billion-22 billion, or about 16%-17% of sales, throughout our five-year explicit forecast period",
    "gold": "[Cause] Telenor should be able to balance the timing of its 5G investments in its geographic markets [Relation] cause [Effect] its total capital spending to remain at about NOK 20 billion-22 billion, or about 16%-17% of sales, throughout our five-year explicit forecast period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cost savings is expected to be generated from digitalization, resulting in automation, a decline in headcount from operations and technology, and a reduced office footprint.",
    "output": "[Cause] Cost savings [Relation] cause [Effect] automation",
    "gold": "[Cause] digitalization [Relation] enable [Effect] Cost savings",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Cost savings is expected to be generated from digitalization, resulting in automation, a decline in headcount from operations and technology, and a reduced office footprint.",
    "output": "[Cause] Cost savings [Relation] cause [Effect] automation, a decline in headcount from operations and technology, and a reduced office footprint",
    "gold": "[Cause] Cost savings [Relation] cause [Effect] automation, a decline in headcount from operations and technology, and a reduced office footprint",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Bio-Techne has a market-leading breadth of protein options, and has consistently maintained pricing premium over peers, but competitors could theoretically develop similar-quality proteins, and Bio-Techne will always face price competition from value-protein providers.",
    "output": "[Cause] competitors could theoretically develop similar-quality proteins [Relation] cause [Effect] Bio-Techne will always face price competition from value-protein providers",
    "gold": "[Cause]  competitors could theoretically develop similar-quality proteins [Relation] cause [Effect]  Bio-Techne will always face price competition from value-protein providers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the company will likely maintain share in the current market as contracts are negotiated on volumes and pipeline, the increased competitive dynamics are likely to make it challenging for the company to generate significant returns, in our view.",
    "output": "[Cause] contracts are negotiated on volumes and pipeline [Relation] cause [Effect] the company will likely maintain share in the current market",
    "gold": "[Cause] contracts are negotiated on volumes and pipeline [Relation] enable [Effect]  the company will likely maintain share in the current market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A more recent risk is the ongoing U.S.-China tensions that have resulted in Applied being restricted from shipping tools to certain customers, such as domestic Chinese foundry SMIC.",
    "output": "[Cause] the ongoing U.S.-China tensions [Relation] cause [Effect] Applied being restricted from shipping tools to certain customers, such as domestic Chinese foundry SMIC",
    "gold": "[Cause] the ongoing U.S.-China tensions [Relation] cause [Effect] Applied being restricted from shipping tools to certain customers, such as domestic Chinese foundry SMIC",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, F5 was slow to embrace cloud-based workloads as it perilously defended its incumbent offerings, but a revamped management team properly pivoted F5's focus toward software and cloud-based products as growth catalysts to supplement its legacy hardware dominance, and we think the firm is set to thrive.",
    "output": "[Cause] it perilously defended its incumbent offerings [Relation] cause [Effect] F5 was slow to embrace cloud-based workloads",
    "gold": "[Cause] it perilously defended its incumbent offerings [Relation] enable [Effect] F5 was slow to embrace cloud-based workloads",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Regulated margins, mature markets, customer-paid research and development, and long-term revenue visibility allow the defense primes to deliver a lot of cash to shareholders, which we view positively because we don't see substantial growth in this industry.",
    "output": "[Cause] Regulated margins, mature markets, customer-paid research and development, and long-term revenue visibility [Relation] enable [Effect] the defense primes to deliver a lot of cash to shareholders",
    "gold": "[Cause] we don't see substantial growth in this industry [Relation] cause [Effect] we view positively",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Regulated margins, mature markets, customer-paid research and development, and long-term revenue visibility allow the defense primes to deliver a lot of cash to shareholders, which we view positively because we don't see substantial growth in this industry.",
    "output": "[Cause] we don't see substantial growth in this industry [Relation] cause [Effect] we view positively",
    "gold": "[Cause] Regulated margins, mature markets, customer-paid research and development, and long-term revenue visibility [Relation] cause [Effect] the defense primes to deliver a lot of cash to shareholders",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "By operating as a closed loop network, American Express can capture the full economic profit from a single credit card payment. As a result, American Express generates most of its revenue from discount revenue and card fees, with non-interest income making up roughly 80% of the company's revenue, unlike other credit card issuers that typically rely heavily on net interest income.",
    "output": "[Cause] By operating as a closed loop network, American Express can capture the full economic profit from a single credit card payment [Relation] cause [Effect] American Express generates most of its revenue from discount revenue and card fees, with non-interest income making up roughly 80% of the company's revenue, unlike other credit card issuers that typically rely heavily on net interest income",
    "gold": "[Cause] By operating as a closed loop network, American Express can capture the full economic profit from a single credit card payment [Relation] cause [Effect] American Express generates most of its revenue from discount revenue and card fees, with non-interest income making up roughly 80% of the company's revenue, unlike other credit card issuers that typically rely heavily on net interest income",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Marine connectors may have to maintain operation even when submersed in water. Thus, in the eyes of a customer, the trust and reliability that Amphenol offers are of greater value than the potential incremental savings of switching to a lower-cost supplier.",
    "output": "[Cause] Marine connectors may have to maintain operation even when submersed in water [Relation] cause [Effect] in the eyes of a customer, the trust and reliability that Amphenol offers are of greater value than the potential incremental savings of switching to a lower-cost supplier",
    "gold": "[Cause] Marine connectors may have to maintain operation even when submersed in water [Relation] cause [Effect] in the eyes of a customer, the trust and reliability that Amphenol offers are of greater value than the potential incremental savings of switching to a lower-cost supplier",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, as utilization has returned to growth, LabCorp has also benefited (though the addition of the CRO business has pressured margins).",
    "output": "[Cause] utilization has returned to growth [Relation] cause [Effect] LabCorp has also benefited",
    "gold": "[Cause]  utilization has returned to growth [Relation] enable [Effect]  LabCorp has also benefited",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Most of its investment during the next few years will be in projects that flow through rates without base rate reviews, reducing regulatory risk.",
    "output": "[Cause] Most of its investment during the next few years will be in projects that flow through rates without base rate reviews [Relation] cause [Effect] reducing regulatory risk",
    "gold": "[Cause] Most of its investment during the next few years will be in projects that flow through rates without base rate reviews [Relation] cause [Effect] reducing regulatory risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Volatile oil prices intensify the challenges facing the firm's energy sector clients, but cheap gas prices are a benefit in automotive.",
    "output": "[Cause] Volatile oil prices [Relation] cause [Effect] intensify the challenges facing the firm's energy sector clients",
    "gold": "[Cause] Volatile oil prices [Relation] cause [Effect] intensify the challenges facing the firm's energy sector clients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Volatile oil prices intensify the challenges facing the firm's energy sector clients, but cheap gas prices are a benefit in automotive.",
    "output": "[Cause] cheap gas prices [Relation] enable [Effect] benefit in automotive",
    "gold": "[Cause] cheap gas prices [Relation] cause [Effect] benefit in automotive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm is simultaneously executing its cost savings plan to improve supply chain efficiency and reduce its co-packer network, which could also be disruptive.",
    "output": "[Cause] The firm is simultaneously executing its cost savings plan [Relation] enable [Effect] improve supply chain efficiency and reduce its co-packer network",
    "gold": "[Cause] The firm is simultaneously executing its cost savings plan [Relation] enable [Effect]  improve supply chain efficiency and reduce its co-packer network",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nevertheless, we believe if management were to hypothetically shut off the acquisition spigot, the firm's returns on invested capital including goodwill would likely rise.",
    "output": "[Cause] management were to hypothetically shut off the acquisition spigot [Relation] cause [Effect] the firm's returns on invested capital including goodwill would likely rise",
    "gold": "[Cause] management were to hypothetically shut off the acquisition spigot [Relation] enable [Effect] the firm's returns on invested capital including goodwill would likely rise",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its instruments have significant switching costs resulting from costly up-front investments in equipment (up to and exceeding $1 million) and training.",
    "output": "[Cause] costly up-front investments in equipment (up to and exceeding $1 million) and training [Relation] cause [Effect] Its instruments have significant switching costs",
    "gold": "[Cause]  costly up-front investments in equipment (up to and exceeding $1 million) and training [Relation] cause [Effect] Its instruments have significant switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We don't see this changing and note that First Niagara had a slightly higher cost of funding than did KeyCorp, reinforcing our view that this aspect of the business will probably remain as is.",
    "output": "[Cause] We don't see this changing and note that First Niagara had a slightly higher cost of funding than did KeyCorp [Relation] cause [Effect] reinforcing our view that this aspect of the business will probably remain as is",
    "gold": "[Cause] We don't see this changing and note that First Niagara had a slightly higher cost of funding than did KeyCorp [Relation] cause [Effect] reinforcing our view that this aspect of the business will probably remain as is",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Advertisers can also evaluate their sales conversion on Tmall from the fans accumulated through advertising campaigns on Weibo in collaboration with Alibaba through the uni-marketing program.",
    "output": "[Cause] the fans accumulated through advertising campaigns on Weibo in collaboration with Alibaba through the uni-marketing program [Relation] enable [Effect] Advertisers can also evaluate their sales conversion on Tmall",
    "gold": "[Cause] the fans accumulated through advertising campaigns on Weibo in collaboration with Alibaba through the uni-marketing program [Relation] enable [Effect] Advertisers can also evaluate their sales conversion on Tmall",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect all firms to see sustainable high-single-digit IG sales growth as treatment rates rise and as more patients opt for subcutaneous therapy.",
    "output": "[Cause] treatment rates rise and as more patients opt for subcutaneous therapy [Relation] cause [Effect] all firms to see sustainable high-single-digit IG sales growth",
    "gold": "[Cause] treatment rates rise and as more patients opt for subcutaneous therapy [Relation] cause [Effect] all firms to see sustainable high-single-digit IG sales growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that Imax box office finally surpasses the 2019 levels in 2023 as consumers return to theaters and the firm's footprint continues to grow.",
    "output": "[Cause] consumers return to theaters and the firm's footprint continues to grow [Relation] cause [Effect] Imax box office finally surpasses the 2019 levels in 2023",
    "gold": "[Cause] consumers return to theaters and the firm's footprint continues to grow [Relation] enable [Effect] Imax box office finally surpasses the 2019 levels in 2023",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "More specifically, Mondelez targets 3%-plus sales growth long term as it works to sell its wares in more channels and reinvests in new products aligned with consumer trends at home and abroad.",
    "output": "[Cause] it works to sell its wares in more channels and reinvests in new products aligned with consumer trends at home and abroad [Relation] cause [Effect] Mondelez targets 3%-plus sales growth long term",
    "gold": "[Cause]  it works to sell its wares in more channels and reinvests in new products aligned with consumer trends at home and abroad [Relation] cause [Effect] Mondelez targets 3%-plus sales growth long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Net interest income will be messy for the time being as PPP related NII and purchase accounting accretion play out, however we see the net effect being a decline in NII through 2023.",
    "output": "[Cause] PPP related NII and purchase accounting accretion play out [Relation] cause [Effect] Net interest income will be messy for the time being",
    "gold": "[Cause] PPP related NII and purchase accounting accretion play out [Relation] cause [Effect] Net interest income will be messy for the time being",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Net interest income will be messy for the time being as PPP related NII and purchase accounting accretion play out, however we see the net effect being a decline in NII through 2023.",
    "output": "[Cause] PPP related NII and purchase accounting accretion play out [Relation] cause [Effect] Net interest income will be messy for the time being",
    "gold": "[Cause] PPP related NII and purchase accounting accretion play out [Relation] cause [Effect] we see the net effect being a decline in NII through 2023",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Moreover, Sinopec has limited access to low-cost source of crude, as it relies on higher-cost imports or domestically sourced production sold at market rates.",
    "output": "[Cause] it relies on higher-cost imports or domestically sourced production sold at market rates [Relation] cause [Effect] Sinopec has limited access to low-cost source of crude",
    "gold": "[Cause] it relies on higher-cost imports or domestically sourced production sold at market rates [Relation] cause [Effect] Sinopec has limited access to low-cost source of crude",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Total's profits and cash flow are largely tied to oil and gas production and suffer during periods of weak commodity prices.",
    "output": "[Cause] oil and gas production [Relation] cause [Effect] Total's profits and cash flow",
    "gold": "[Cause] periods of weak commodity prices | oil and gas production [Relation] cause [Effect] Total's profits and cash flow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also think McCormick has been able to exert modest pricing power, as price/mix has generally exceeded inflation over the past decade.",
    "output": "[Cause] price/mix has generally exceeded inflation over the past decade [Relation] cause [Effect] McCormick has been able to exert modest pricing power",
    "gold": "[Cause] price/mix has generally exceeded inflation over the past decade [Relation] cause [Effect] McCormick has been able to exert modest pricing power",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "TE also drives this consolidation itself, completing several bolt-on acquisitions a year to expand its breadth and maintain its pole market share position.",
    "output": "[Cause] TE also drives this consolidation itself, completing several bolt-on acquisitions a year [Relation] enable [Effect] expand its breadth and maintain its pole market share position",
    "gold": "[Cause]  expand its breadth and maintain its pole market share position [Relation] cause [Effect] TE also drives this consolidation itself, completing several bolt-on acquisitions a year",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We anticipate non-GAAP operating margins to expand as the company improves scale and a richer mix of higher-margin Veeva Vault revenue.",
    "output": "[Cause] the company improves scale and a richer mix of higher-margin Veeva Vault revenue [Relation] cause [Effect] non-GAAP operating margins to expand",
    "gold": "[Cause] the company improves scale and a richer mix of higher-margin Veeva Vault revenue [Relation] cause [Effect] non-GAAP operating margins to expand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There is a substantial risk, however, that Suburban will not be able to sustain profit levels despite management's proven abilities and the shift away from less profitable accounts.",
    "output": "[Cause] management's proven abilities and the shift away from less profitable accounts [Relation] cause [Effect] Suburban will not be able to sustain profit levels",
    "gold": "[Cause]  that Suburban will not be able to sustain profit levels [Relation] cause [Effect] There is a substantial risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the firm will continue to grow by diversifying its therapeutic portfolio and broadening its service offerings from the PRA acquisition.",
    "output": "[Cause] diversifying its therapeutic portfolio and broadening its service offerings from the PRA acquisition [Relation] enable [Effect] the firm will continue to grow",
    "gold": "[Cause]  the PRA acquisition [Relation] enable [Effect] diversifying its therapeutic portfolio and broadening its service offerings",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Once safety protocols are successful, we expect Royal to see minimal pricing gains as it entices cruisers back onto the product, limiting near-term yield gains.",
    "output": "[Cause] it entices cruisers back onto the product, limiting near-term yield gains [Relation] cause [Effect] Once safety protocols are successful, we expect Royal to see minimal pricing gains",
    "gold": "[Cause]  it entices cruisers back onto the product, limiting near-term yield gains [Relation] cause [Effect] Once safety protocols are successful, we expect Royal to see minimal pricing gains",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In fact, Lennar's average homebuilding selling, general, and administrative expenses as a percentage of homebuilding revenue have been in line with the average for all public homebuilders over the past five years, suggesting that other large public homebuilders are also able to manage overhead costs.",
    "output": "[Cause] Lennar's average homebuilding selling, general, and administrative expenses as a percentage of homebuilding revenue have been in line with the average for all public homebuilders over the past five years [Relation] cause [Effect] other large public homebuilders are also able to manage overhead costs",
    "gold": "[Cause]  other large public homebuilders are also able to manage overhead costs [Relation] cause [Effect] Lennar's average homebuilding selling, general, and administrative expenses as a percentage of homebuilding revenue have been in line with the average for all public homebuilders over the past five years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Tepid industry growth holds potential competitors at bay, in our view, given that new entrants would find it difficult to take meaningful share, and the reward for doing so would be relatively small.",
    "output": "[Cause] new entrants would find it difficult to take meaningful share, and the reward for doing so would be relatively small [Relation] cause [Effect] Tepid industry growth holds potential competitors at bay",
    "gold": "[Cause] new entrants would find it difficult to take meaningful share, and the reward for doing so would be relatively small [Relation] cause [Effect] Tepid industry growth holds potential competitors at bay",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customer adoption, and by extension, market share gains, won't come easy, and management has acknowledged that comp growth over the next five years may be back-weighted, since service offerings take time to scale.",
    "output": "[Cause] service offerings take time to scale [Relation] cause [Effect] comp growth over the next five years may be back-weighted",
    "gold": "[Cause] service offerings take time to scale [Relation] cause [Effect] comp growth over the next five years may be back-weighted",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customer adoption, and by extension, market share gains, won't come easy, and management has acknowledged that comp growth over the next five years may be back-weighted, since service offerings take time to scale.",
    "output": "[Cause] service offerings take time to scale [Relation] cause [Effect] comp growth over the next five years may be back-weighted",
    "gold": "[Cause] Customer adoption [Relation] cause [Effect] market share gains",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, given no alternatives to aggregates and cement in the construction process, we see a low materiality impact to Martin Marietta's valuation, as any increased costs should ultimately be passed onto end-market customers.",
    "output": "[Cause] any increased costs should ultimately be passed onto end-market customers [Relation] cause [Effect] a low materiality impact to Martin Marietta's valuation",
    "gold": "[Cause] any increased costs should ultimately be passed onto end-market customers [Relation] cause [Effect] a low materiality impact to Martin Marietta's valuation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With its vast global manufacturing and distribution network, we believe Mondelez operates with lower unit and distribution costs, as well as greater supply chain efficiency and an enhanced ability to leverage brand spending, than smaller peers.",
    "output": "[Cause] its vast global manufacturing and distribution network [Relation] cause [Effect] Mondelez operates with lower unit and distribution costs, as well as greater supply chain efficiency and an enhanced ability to leverage brand spending, than smaller peers",
    "gold": "[Cause] its vast global manufacturing and distribution network [Relation] cause [Effect] Mondelez operates with lower unit and distribution costs, as well as greater supply chain efficiency and an enhanced ability to leverage brand spending, than smaller peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Match Group service's effectiveness, while necessary to attract more users, could also increase the firm's enterprise risk.",
    "output": "[Cause] Match Group service's effectiveness [Relation] enable [Effect] increase the firm's enterprise risk",
    "gold": "[Cause] Match Group service's effectiveness [Relation] cause [Effect] necessary to attract more users | increase the firm's enterprise risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think demand for repair work will be strong in the near term, largely due to vehicle owners taking in their cars for overdue servicing (delayed by the COVID-19 pandemic).",
    "output": "[Cause] vehicle owners taking in their cars for overdue servicing [Relation] cause [Effect] demand for repair work will be strong in the near term",
    "gold": "[Cause] vehicle owners taking in their cars for overdue servicing [Relation] cause [Effect] demand for repair work will be strong in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think demand for repair work will be strong in the near term, largely due to vehicle owners taking in their cars for overdue servicing (delayed by the COVID-19 pandemic).",
    "output": "[Cause] vehicle owners taking in their cars for overdue servicing [Relation] cause [Effect] demand for repair work will be strong in the near term",
    "gold": "[Cause]  the COVID-19 pandemic [Relation] prevent [Effect] vehicle owners taking in their cars for overdue servicing",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nonetheless, we think that total revenue generated by ERP customers will grow by about 50% as more and more cloud customers should increase the lifetime value they offer to SAP. These trends should enable SAP to increase revenue at a compound annual rate of 5% over the next five years.",
    "output": "[Cause] total revenue generated by ERP customers will grow by about 50% as more and more cloud customers should increase the lifetime value they offer to SAP [Relation] enable [Effect] SAP to increase revenue at a compound annual rate of 5% over the next five years",
    "gold": "[Cause]  total revenue generated by ERP customers will grow by about 50% as more and more cloud customers should increase the lifetime value they offer to SAP [Relation] enable [Effect] SAP to increase revenue at a compound annual rate of 5% over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Adjusted gross margin understandably dipped in 2020 due to COVID-19 headwinds, but we anticipate a bounceback to 55% in 2021 and exceeding 55% thereafter.",
    "output": "[Cause] COVID-19 headwinds [Relation] cause [Effect] Adjusted gross margin understandably dipped in 2020",
    "gold": "[Cause] COVID-19 headwinds [Relation] cause [Effect] Adjusted gross margin understandably dipped in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Edison could realize $1 billion, or $2.50 per share, of incremental value if regulators allow it to charge customers for the wildfire repair and mitigation investments Edison has made since 2018.",
    "output": "[Cause] regulators allow it to charge customers for the wildfire repair and mitigation investments Edison has made since 2018 [Relation] enable [Effect] Edison could realize $1 billion, or $2.50 per share, of incremental value",
    "gold": "[Cause] regulators allow it to charge customers for the wildfire repair and mitigation investments Edison has made since 2018 [Relation] cause [Effect] Edison could realize $1 billion, or $2.50 per share, of incremental value",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, employees would need to be trained on the new platform, which could be time consuming and lead to erroneous usage, thus impacting productivity.",
    "output": "[Cause] employees would need to be trained on the new platform [Relation] cause [Effect] erroneous usage",
    "gold": "[Cause] employees would need to be trained on the new platform [Relation] cause [Effect] erroneous usage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, employees would need to be trained on the new platform, which could be time consuming and lead to erroneous usage, thus impacting productivity.",
    "output": "[Cause] erroneous usage [Relation] cause [Effect] impacting productivity",
    "gold": "[Cause] erroneous usage [Relation] cause [Effect] impacting productivity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As PNC is the third-largest regional bank that is not labeled a GSIB, it can to some extent enjoy better relative regulatory costs.",
    "output": "[Cause] PNC is the third-largest regional bank that is not labeled a GSIB [Relation] enable [Effect] it can to some extent enjoy better relative regulatory costs",
    "gold": "[Cause] PNC is the third-largest regional bank that is not labeled a GSIB [Relation] enable [Effect] it can to some extent enjoy better relative regulatory costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that the technical complexity of larger midsize business jets is a stiffer barrier to entry than light jets.",
    "output": "[Cause] the technical complexity of larger midsize business jets [Relation] cause [Effect] a stiffer barrier to entry than light jets",
    "gold": "[Cause]  the technical complexity of larger midsize business jets [Relation] cause [Effect]  a stiffer barrier to entry than light jets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The networking market is moving beyond physical hardware sales, and we think the company's strategy is moving in the correct direction for excess economic returns.",
    "output": "[Cause] The networking market is moving beyond physical hardware sales [Relation] cause [Effect] the company's strategy is moving in the correct direction for excess economic returns",
    "gold": "[Cause] The networking market is moving beyond physical hardware sales [Relation] cause [Effect] the company's strategy is moving in the correct direction for excess economic returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we expect the windfalls from this rise to accrue disproportionately to retailers (who function as brand owners in this context), we think Treehouse now has the right commercial and operational infrastructure in place to capture its fair share of growth and profitability.",
    "output": "[Cause] Treehouse now has the right commercial and operational infrastructure in place [Relation] enable [Effect] capture its fair share of growth and profitability",
    "gold": "[Cause] While we expect the windfalls from this rise to accrue disproportionately to retailers (who function as brand owners in this context), [Relation] enable [Effect] we think Treehouse now has the right commercial and operational infrastructure in place to capture its fair share of growth and profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Brown-Forman is also harvesting growth abroad, buoyed by the broader resurgence in global demand for bourbon, and after the pandemic, we expect developed markets like the U.K.",
    "output": "[Cause] the broader resurgence in global demand for bourbon [Relation] cause [Effect] Brown-Forman is also harvesting growth abroad",
    "gold": "[Cause] the broader resurgence in global demand for bourbon [Relation] cause [Effect] Brown-Forman is also harvesting growth abroad",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This lack of efficiency and need for flexibility by business travelers is what necessitates American Express' travel management programs and expense software.",
    "output": "[Cause] This lack of efficiency and need for flexibility by business travelers [Relation] cause [Effect] necessitates American Express' travel management programs and expense software",
    "gold": "[Cause] This lack of efficiency and need for flexibility by business travelers [Relation] cause [Effect] necessitates American Express' travel management programs and expense software",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect it to continue growing in a similar fashion globally to benefit from ongoing growth of the ESRD patient population, although new regulatory initiatives in the U.S.",
    "output": "[Cause] ongoing growth of the ESRD patient population [Relation] enable [Effect] continue growing in a similar fashion globally",
    "gold": "[Cause] ongoing growth of the ESRD patient population [Relation] cause [Effect] continue growing in a similar fashion globally",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Under Armour has opened its own stores as wholesale distribution has slowed, but 90% of them in North America are off-price.",
    "output": "[Cause] wholesale distribution has slowed [Relation] cause [Effect] Under Armour has opened its own stores",
    "gold": "[Cause] wholesale distribution has slowed [Relation] cause [Effect] Under Armour has opened its own stores",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, the threat of irrational promotional activity or excessive discounting remains in the background, with lackluster industry growth espousing competition as firms fight for incremental market share.",
    "output": "[Cause] firms fight for incremental market share [Relation] cause [Effect] lackluster industry growth espousing competition",
    "gold": "[Cause] the threat of irrational promotional activity or excessive discounting remains in the background, with lackluster industry growth espousing competition [Relation] cause [Effect] firms fight for incremental market share",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "At an initial takeout price of nearly 14 times Eaton Vance's average annual EBITDA over the past five years, the acquisition represented a decent premium (as it was comfortably above the median run-rate EBITDA transaction multiple of 10 times we've seen for asset manager deals the past decade).",
    "output": "[Cause] it was comfortably above the median run-rate EBITDA transaction multiple of 10 times we've seen for asset manager deals the past decade [Relation] cause [Effect] the acquisition represented a decent premium",
    "gold": "[Cause]  it was comfortably above the median run-rate EBITDA transaction multiple of 10 times we've seen for asset manager deals the past decade [Relation] enable [Effect] the acquisition represented a decent premium",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Palo Alto offers subscriptions for cloud-based analytics that pools data across all participating customers, and this wider data set allows Palo Alto to better protect customers from future threats seen in other networks.",
    "output": "[Cause] Palo Alto offers subscriptions for cloud-based analytics that pools data across all participating customers [Relation] enable [Effect] Palo Alto to better protect customers from future threats seen in other networks",
    "gold": "[Cause] pools data across all participating customers, and this wider data set [Relation] enable [Effect]  Palo Alto to better protect customers from future threats seen in other networks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Consequently, unfavorable operating leverage is exacerbated during cyclical swings in demand from peak to trough, which is the current situation with COVID-19.",
    "output": "[Cause] unfavorable operating leverage is exacerbated during cyclical swings in demand from peak to trough [Relation] cause [Effect] the current situation with COVID-19",
    "gold": "[Cause] cyclical swings in demand from peak to trough [Relation] cause [Effect]  unfavorable operating leverage is exacerbated",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For customers, switching to an alternative product poses significant risk to their operations, with the potential for project disruptions from machine failures and long lead times to service equipment.",
    "output": "[Cause] switching to an alternative product [Relation] cause [Effect] significant risk to their operations",
    "gold": "[Cause] switching to an alternative product [Relation] cause [Effect] significant risk to their operations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "EastSpring Investments is one of the largest and better-quality asset management divisions in the region, and this helps attract net flows and build product reputation.",
    "output": "[Cause] EastSpring Investments is one of the largest and better-quality asset management divisions in the region [Relation] enable [Effect] attract net flows and build product reputation",
    "gold": "[Cause] EastSpring Investments is one of the largest and better-quality asset management divisions in the region [Relation] cause [Effect] attract net flows and build product reputation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although other public homebuilders may not build a great deal of competing luxury products, they certainly compete for new land, which can bid up land prices or force Toll Brothers to purchase less favorable land.",
    "output": "[Cause] they certainly compete for new land [Relation] enable [Effect] bid up land prices or force Toll Brothers to purchase less favorable land",
    "gold": "[Cause] they certainly compete for new land [Relation] cause [Effect] bid up land prices or force Toll Brothers to purchase less favorable land",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "During this downturn, we assume Stryker's margins fall in the near term, as volume falls off and the firm attempts to keep its engineers and salesforce intact.",
    "output": "[Cause] volume falls off and the firm attempts to keep its engineers and salesforce intact [Relation] cause [Effect] Stryker's margins fall in the near term",
    "gold": "[Cause] volume falls off and the firm attempts to keep its engineers and salesforce intact [Relation] cause [Effect] Stryker's margins fall in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the long term, we foresee solid mid-single-digit comparable expansion as Costco's attractive values drive store traffic and its newer international operations deliver member growth.",
    "output": "[Cause] Costco's attractive values drive store traffic and its newer international operations deliver member growth [Relation] cause [Effect] solid mid-single-digit comparable expansion",
    "gold": "[Cause] Costco's attractive values [Relation] enable [Effect] drive store traffic",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over the long term, we foresee solid mid-single-digit comparable expansion as Costco's attractive values drive store traffic and its newer international operations deliver member growth.",
    "output": "[Cause] Costco's attractive values drive store traffic and its newer international operations deliver member growth [Relation] cause [Effect] solid mid-single-digit comparable expansion",
    "gold": "[Cause] its newer international operations [Relation] enable [Effect] deliver member growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After the initial choice of tools based primarily on intangible assets, Agilent benefits from substantial switching costs in most of its end markets.",
    "output": "[Cause] the initial choice of tools based primarily on intangible assets [Relation] enable [Effect] Agilent benefits from substantial switching costs in most of its end markets",
    "gold": "[Cause] the initial choice of tools based primarily on intangible assets [Relation] enable [Effect] Agilent benefits from substantial switching costs in most of its end markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Importantly, the T-Mobile merger greatly improved the industry's structure, leaving three players with little incentive to price irrationally in search of short-term market share gains.",
    "output": "[Cause] the T-Mobile merger greatly improved the industry's structure [Relation] cause [Effect] leaving three players with little incentive to price irrationally in search of short-term market share gains",
    "gold": "[Cause] the T-Mobile merger greatly improved the industry's structure [Relation] cause [Effect] leaving three players with little incentive to price irrationally in search of short-term market share gains",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the pandemic still presents a risk to oil demand, but we believe the current glut will likely become a shortage in the near term.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] a risk to oil demand",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] a risk to oil demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that the company is patient with its engineers in order to encourage innovation, we do not think Gentex will lose its competitive edge.",
    "output": "[Cause] the company is patient with its engineers in order to encourage innovation [Relation] cause [Effect] we do not think Gentex will lose its competitive edge",
    "gold": "[Cause]  the company is patient with its engineers [Relation] cause [Effect] do not think Gentex will lose its competitive edge.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Due to the sale of its Asia brake control business, we had already forecast a 12.5% 2020 revenue decline but with the coronavirus-induced industrywide factory closures, we now forecast a 23.1% decline, followed by a 19% increase in 2021 as backlog starts to ramp-up.",
    "output": "[Cause] the coronavirus-induced industrywide factory closures [Relation] cause [Effect] a 23.1% decline, followed by a 19% increase in 2021 as backlog starts to ramp-up",
    "gold": "[Cause]  the coronavirus-induced industrywide factory closures [Relation] cause [Effect]  a 23.1% decline, followed by a 19% increase in 2021 as backlog starts to ramp-up",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that any further upheaval will slow streamlining of its operations in Europe, where it is now the largest distributor of aftermarket automotive parts.",
    "output": "[Cause] further upheaval [Relation] cause [Effect] slow streamlining of its operations in Europe",
    "gold": "[Cause]  it is now the largest distributor of aftermarket automotive parts [Relation] cause [Effect]  any further upheaval will slow streamlining of its operations in Europe",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We see net charge-off ratios normalizing to 0.6%, and despite the pressure from the pandemic, we expect that Truist is already more than reserved for the losses that will transpire, resulting in much lower provisioning for the next year or two.",
    "output": "[Cause] Truist is already more than reserved for the losses that will transpire [Relation] cause [Effect] much lower provisioning for the next year or two",
    "gold": "[Cause] Truist is already more than reserved for the losses that will transpire [Relation] cause [Effect]  much lower provisioning for the next year or two",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Most growth will come via acquisition because Group 1's business model is similar to the other large dealerships, which have been consolidating stores.",
    "output": "[Cause] Group 1's business model is similar to the other large dealerships, which have been consolidating stores [Relation] cause [Effect] Most growth will come via acquisition",
    "gold": "[Cause] Group 1's business model is similar to the other large dealerships, which have been consolidating stores [Relation] cause [Effect] Most growth will come via acquisition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Low agent headcount growth could lead to more competitive pricing offers from rivals and force Nice to respond in order to maintain its share of call center spending.",
    "output": "[Cause] Low agent headcount growth [Relation] cause [Effect] maintain its share of call center spending",
    "gold": "[Cause]  maintain its share of call center spending [Relation] cause [Effect] Low agent headcount growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We assume a continued increase in penetration for some of our forecast period due to attractive growth prospects and Gentex's history.",
    "output": "[Cause] attractive growth prospects and Gentex's history [Relation] cause [Effect] a continued increase in penetration for some of our forecast period",
    "gold": "[Cause] attractive growth prospects and Gentex's history [Relation] enable [Effect] a continued increase in penetration for some of our forecast period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With more places to attack, enterprises and government entities must be concerned with securing the network core, branch offices, remote employees, smartphones, and cloud environments.",
    "output": "[Cause] more places to attack [Relation] cause [Effect] enterprises and government entities must be concerned with securing the network core, branch offices, remote employees, smartphones, and cloud environments",
    "gold": "[Cause]  more places to attack [Relation] cause [Effect] enterprises and government entities must be concerned with securing the network core, branch offices, remote employees, smartphones, and cloud environments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As we do not see any synergies with the remaining divisions, strategically a spin-off or sale makes good sense to us.",
    "output": "[Cause] we do not see any synergies with the remaining divisions [Relation] cause [Effect] strategically a spin-off or sale makes good sense to us",
    "gold": "[Cause] we do not see any synergies with the remaining divisions [Relation] cause [Effect] strategically a spin-off or sale makes good sense to us",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe NXP prospers from intangible assets stemming from the firm's design expertise, as well as customer switching costs, as NXP's products are rarely ripped out once designed into a device, particularly in the company's four main segments-- automotive, industrial and Internet of Things, mobile, and communications infrastructure.",
    "output": "[Cause] intangible assets stemming from the firm's design expertise, as well as customer switching costs [Relation] enable [Effect] NXP prospers",
    "gold": "[Cause] intangible assets stemming from the firm's design expertise, as well as customer switching costs [Relation] enable [Effect] NXP prospers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe NXP prospers from intangible assets stemming from the firm's design expertise, as well as customer switching costs, as NXP's products are rarely ripped out once designed into a device, particularly in the company's four main segments-- automotive, industrial and Internet of Things, mobile, and communications infrastructure.",
    "output": "[Cause] NXP's products are rarely ripped out once designed into a device [Relation] cause [Effect] NXP prospers from intangible assets stemming from the firm's design expertise, as well as customer switching costs",
    "gold": "[Cause] NXP's products are rarely ripped out once designed into a device [Relation] cause [Effect] NXP prospers from intangible assets stemming from the firm's design expertise, as well as customer switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, our position is that insurers will not change their nature once a core Guidewire suite has been implemented, and the company will therefore benefit from a similarly long-tail relationship.",
    "output": "[Cause] insurers will not change their nature once a core Guidewire suite has been implemented [Relation] cause [Effect] the company will therefore benefit from a similarly long-tail relationship",
    "gold": "[Cause] insurers will not change their nature once a core Guidewire suite has been implemented [Relation] enable [Effect] the company will therefore benefit from a similarly long-tail relationship",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The investment opportunities and regulatory mechanisms that have allowed Southern to earn its best-in-class returns on equity are in large part because of the company's constructive relationships with state regulators in Alabama, Georgia, and Mississippi.",
    "output": "[Cause] The investment opportunities and regulatory mechanisms [Relation] enable [Effect] Southern to earn its best-in-class returns on equity",
    "gold": "[Cause] The investment opportunities and regulatory mechanisms [Relation] enable [Effect] Southern to earn its best-in-class returns on equity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Should China's economy slow, Brazil's government will face yet another hurdle to returning the country to growth and provide additional pressure to tax receipts.",
    "output": "[Cause] China's economy slow [Relation] cause [Effect] Brazil's government will face yet another hurdle to returning the country to growth and provide additional pressure to tax receipts",
    "gold": "[Cause] China's economy slow [Relation] cause [Effect] Brazil's government will face yet another hurdle to returning the country to growth and provide additional pressure to tax receipts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As DuPont continues to develop new products, we forecast companywide EBITDA margins to expand from the mid-20% to the high-20% range throughout our five-year explicit forecast period.",
    "output": "[Cause] DuPont continues to develop new products [Relation] cause [Effect] companywide EBITDA margins to expand from the mid-20% to the high-20% range throughout our five-year explicit forecast period",
    "gold": "[Cause] DuPont continues to develop new products [Relation] cause [Effect]  companywide EBITDA margins to expand from the mid-20% to the high-20% range throughout our five-year explicit forecast period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From its vast NGL system, Enterprise's connection with every ethylene cracker on the Gulf Coast, its sold-out PDH splitter (and its second PDH plant is on the way), and the upgraded isobutylene unit make it adept at converting low-cost NGLs into higher value-added olefins.",
    "output": "[Cause] Enterprise's connection with every ethylene cracker on the Gulf Coast, its sold-out PDH splitter (and its second PDH plant is on the way), and the upgraded isobutylene unit [Relation] enable [Effect] it adept at converting low-cost NGLs into higher value-added olefins",
    "gold": "[Cause] Enterprise's connection with every ethylene cracker on the Gulf Coast, its sold-out PDH splitter (and its second PDH plant is on the way), and the upgraded isobutylene unit [Relation] enable [Effect] it adept at converting low-cost NGLs into higher value-added olefins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We had previously believed that weaker implementation of the technology could erode ASML's competitive positioning as chipmakers use alternative solutions (such as multiple patterning) to continue pursuing Moore's law.",
    "output": "[Cause] chipmakers use alternative solutions (such as multiple patterning) to continue pursuing Moore's law [Relation] cause [Effect] weaker implementation of the technology could erode ASML's competitive positioning",
    "gold": "[Cause] chipmakers use alternative solutions (such as multiple patterning) to continue pursuing Moore's law [Relation] cause [Effect] weaker implementation of the technology could erode ASML's competitive positioning",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the long-term contractual agreement with ICANN will support Verisign's monopoly position and support long-term returns associated with the .com and .net TLDs.",
    "output": "[Cause] the long-term contractual agreement with ICANN [Relation] enable [Effect] Verisign's monopoly position",
    "gold": "[Cause] the long-term contractual agreement with ICANN [Relation] enable [Effect] long-term returns associated with the .com and .net TLDs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the long-term contractual agreement with ICANN will support Verisign's monopoly position and support long-term returns associated with the .com and .net TLDs.",
    "output": "[Cause] the long-term contractual agreement with ICANN [Relation] enable [Effect] long-term returns associated with the.com and.net TLDs",
    "gold": "[Cause] the long-term contractual agreement with ICANN [Relation] enable [Effect] Verisign's monopoly position",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the company's international operations enhance its cost standing; while fashion trends differ sharply across borders, TJX's geographic dispersion makes it a more valuable partner to multinational vendors that face excess inventory issues across all of their operating areas, even if the specific items differ.",
    "output": "[Cause] TJX's geographic dispersion [Relation] enable [Effect] it a more valuable partner to multinational vendors",
    "gold": "[Cause] vendors that face excess inventory issues across all of their operating areas, even if the specific items differ [Relation] enable [Effect] a more valuable partner to multinational vendors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Oil only accounts for about 60% of the firm's production, as its Oklahoma properties yield substantial NGLs and natural gas as well as more valuable crude oil.",
    "output": "[Cause] its Oklahoma properties yield substantial NGLs and natural gas as well as more valuable crude oil [Relation] cause [Effect] Oil only accounts for about 60% of the firm's production",
    "gold": "[Cause] its Oklahoma properties [Relation] enable [Effect] substantial NGLs and natural gas as well as more valuable crude oil",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Oil only accounts for about 60% of the firm's production, as its Oklahoma properties yield substantial NGLs and natural gas as well as more valuable crude oil.",
    "output": "[Cause] its Oklahoma properties yield substantial NGLs and natural gas as well as more valuable crude oil [Relation] cause [Effect] Oil only accounts for about 60% of the firm's production",
    "gold": "[Cause]  its Oklahoma properties yield substantial NGLs and natural gas as well as more valuable crude oil [Relation] enable [Effect] Oil only accounts for about 60% of the firm's production",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's advancement of its next-generation respiratory drugs should help Glaxo maintain its entrenchment in both asthma and chronic obstructive pulmonary disease as generic Advair competition intensifies.",
    "output": "[Cause] The company's advancement of its next-generation respiratory drugs [Relation] enable [Effect] Glaxo maintain its entrenchment in both asthma and chronic obstructive pulmonary disease as generic Advair competition intensifies",
    "gold": "[Cause] generic Advair competition intensifies [Relation] cause [Effect] The company's advancement of its next-generation respiratory drugs should help Glaxo maintain its entrenchment in both asthma and chronic obstructive pulmonary disease",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think the material deceleration in 2021 is primarily due to the abnormally high sales growth in 2020 (45%), when the pandemic pulled forward demand as everyone's lives relied much more on online content.",
    "output": "[Cause] everyone's lives relied much more on online content [Relation] cause [Effect] the pandemic pulled forward demand",
    "gold": "[Cause] everyone's lives relied much more on online content [Relation] cause [Effect] the pandemic pulled forward demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Gluski narrowed AES' geographic and business focus by selling businesses in markets where the company did not have a strong platform or competitive advantage.",
    "output": "[Cause] selling businesses in markets where the company did not have a strong platform or competitive advantage [Relation] enable [Effect] Gluski narrowed AES' geographic and business focus",
    "gold": "[Cause] selling businesses in markets where the company did not have a strong platform or competitive advantage [Relation] enable [Effect] Gluski narrowed AES' geographic and business focus",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a temporary gap between bidding rounds and the pandemic having deferred the next price adjustment indefinitely, we expect prices could stabilise and improve near-term profitability.",
    "output": "[Cause] a temporary gap between bidding rounds and the pandemic having deferred the next price adjustment indefinitely [Relation] cause [Effect] prices could stabilise and improve near-term profitability",
    "gold": "[Cause]  a temporary gap between bidding rounds and the pandemic having deferred the next price adjustment indefinitely [Relation] cause [Effect]  prices could stabilise and improve near-term profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm should also see lower costs from an improved supply chain and distribution network (as a result of direct sourcing and furniture delivery operations) as well as higher productivity of its store fleet (as underperforming locations close).",
    "output": "[Cause] underperforming locations close [Relation] cause [Effect] higher productivity of its store fleet",
    "gold": "[Cause] underperforming locations close [Relation] cause [Effect] higher productivity of its store fleet",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, Marriott and other large hotel brands require high amounts of human capital, which helps drive traveler experience, and therefore is tied to brand intangible asset advantages found in the industry.",
    "output": "[Cause] high amounts of human capital [Relation] cause [Effect] helps drive traveler experience",
    "gold": "[Cause]  high amounts of human capital [Relation] cause [Effect]  tied to brand intangible asset advantages found in the industry",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company employs a distributed network of data centers in a co-location footprint to provide high reliability, low latency, and redundancy.",
    "output": "[Cause] The company employs a distributed network of data centers in a co-location footprint [Relation] enable [Effect] provide high reliability, low latency, and redundancy",
    "gold": "[Cause] The company employs a distributed network of data centers in a co-location footprint [Relation] enable [Effect] provide high reliability, low latency, and redundancy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Integrating fixed-line and wireless networks should improve the quality of each over time, while bundling services should enable the firm to serve customers more efficiently.",
    "output": "[Cause] Integrating fixed-line and wireless networks [Relation] enable [Effect] improve the quality of each over time",
    "gold": "[Cause] Integrating fixed-line and wireless networks [Relation] enable [Effect]  improve the quality of each over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Integrating fixed-line and wireless networks should improve the quality of each over time, while bundling services should enable the firm to serve customers more efficiently.",
    "output": "[Cause] bundling services [Relation] enable [Effect] the firm to serve customers more efficiently",
    "gold": "[Cause] bundling services [Relation] enable [Effect]  the firm to serve customers more efficiently",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management said that the white-box trend does not concern Arista, and we concur, since those consumers appear to be working with the company directly on development projects.",
    "output": "[Cause] those consumers appear to be working with the company directly on development projects [Relation] cause [Effect] the white-box trend does not concern Arista",
    "gold": "[Cause] those consumers appear to be working with the company directly on development projects [Relation] cause [Effect] the white-box trend does not concern Arista",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, Booking faces ESG risks around innovation tax code changes, data breaches, and potential fees should its platform be viewed as anti-competitive.",
    "output": "[Cause] innovation tax code changes, data breaches, and potential fees should its platform be viewed as anti-competitive [Relation] cause [Effect] Booking faces ESG risks",
    "gold": "[Cause] Booking [Relation] cause [Effect]  ESG risks around innovation tax code changes, data breaches, and potential fees should its platform be viewed as anti-competitive",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The acquisition strategy has allowed the firm to significantly broaden its product offering, which in turn allowed it to steadily gain market share.",
    "output": "[Cause] The acquisition strategy [Relation] enable [Effect] the firm to significantly broaden its product offering",
    "gold": "[Cause] The acquisition strategy [Relation] enable [Effect]  the firm to significantly broaden its product offering",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The secular decline of HDD technology, along with the decline of PCs generally, remains a significant headwind for Seagate.",
    "output": "[Cause] The secular decline of HDD technology, along with the decline of PCs generally [Relation] cause [Effect] a significant headwind for Seagate",
    "gold": "[Cause] The secular decline of HDD technology, along with the decline of PCs generally [Relation] cause [Effect] a significant headwind for Seagate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Second, Synchrony's credit cards use reward structures as an incentive for consumers to direct more of their spending to the retail partner.",
    "output": "[Cause] Synchrony's credit cards use reward structures [Relation] enable [Effect] consumers to direct more of their spending to the retail partner",
    "gold": "[Cause]  Synchrony's credit cards use reward structures [Relation] enable [Effect]  consumers to direct more of their spending to the retail partner",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ionis has a broad pipeline and strong collaboration partners to help usher to market drugs for large indications, requiring large clinical trials and salesforces.",
    "output": "[Cause] Ionis has a broad pipeline and strong collaboration partners [Relation] enable [Effect] help usher to market drugs for large indications, requiring large clinical trials and salesforces",
    "gold": "[Cause] Ionis has a broad pipeline and strong collaboration partners [Relation] enable [Effect] help usher to market drugs for large indications, requiring large clinical trials and salesforces",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, when prices drop, the surcharge remains higher than prices for the same lag time, leading to a mostly net neutral position over time.",
    "output": "[Cause] prices drop, the surcharge remains higher than prices for the same lag time [Relation] cause [Effect] a mostly net neutral position over time",
    "gold": "[Cause] prices drop, the surcharge remains higher than prices for the same lag time [Relation] cause [Effect] a mostly net neutral position over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If durability of the product doesn't meet or exceed the track record on surgical valves, clinicians may be wary of using the product in younger patients.",
    "output": "[Cause] durability of the product doesn't meet or exceed the track record on surgical valves [Relation] cause [Effect] clinicians may be wary of using the product in younger patients",
    "gold": "[Cause] durability of the product doesn't meet or exceed the track record on surgical valves [Relation] enable [Effect] clinicians may be wary of using the product in younger patients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, Regency's portfolio should see steady but low growth over the next decade as the retail landscape adjusts to the emergence of e-commerce.",
    "output": "[Cause] the retail landscape adjusts to the emergence of e-commerce [Relation] cause [Effect] Regency's portfolio should see steady but low growth over the next decade",
    "gold": "[Cause] the retail landscape adjusts to the emergence of e-commerce [Relation] cause [Effect] Regency's portfolio should see steady but low growth over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think it is possible that Marvell will be able to increase GAAP operating margins in the low-20s-by driving leverage as it streamlines its spending in storage and networking.",
    "output": "[Cause] it streamlines its spending in storage and networking [Relation] enable [Effect] Marvell will be able to increase GAAP operating margins in the low-20s-by driving leverage",
    "gold": "[Cause] it streamlines its spending in storage and networking [Relation] cause [Effect] Marvell will be able to increase GAAP operating margins in the low-20s-by driving leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The competitive advantages of the Australian major banks allow them to grow in line with system, but to be selective on products and risks, especially with greater competition from challengers making the most of the ultra-low interest rate environment.",
    "output": "[Cause] The competitive advantages of the Australian major banks [Relation] enable [Effect] them to grow in line with system, but to be selective on products and risks",
    "gold": "[Cause] The competitive advantages of the Australian major banks [Relation] enable [Effect]  allow them to grow in line with system",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We anticipate consistent low-single-digit top-line organic lift in 2021 and beyond, as as secularly slow industry growth in the mature leisure businesses (particularly, ORV, snow, and motorcycles) is supported by incremental opportunities in the aftermarket parts and global adjacent markets segments.",
    "output": "[Cause] secularly slow industry growth in the mature leisure businesses (particularly, ORV, snow, and motorcycles) is supported by incremental opportunities in the aftermarket parts and global adjacent markets segments [Relation] cause [Effect] consistent low-single-digit top-line organic lift in 2021 and beyond",
    "gold": "[Cause] secularly slow industry growth in the mature leisure businesses (particularly, ORV, snow, and motorcycles) is supported by incremental opportunities in the aftermarket parts and global adjacent markets segments [Relation] cause [Effect] consistent low-single-digit top-line organic lift in 2021 and beyond",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Persistent competition and the firm's value orientation should leave little room for margin expansion despite rising cost leverage, as Five Below will likely have to reinvest savings derived from operational leverage into keeping prices low and perceived value high.",
    "output": "[Cause] Five Below will likely have to reinvest savings derived from operational leverage into keeping prices low and perceived value high [Relation] cause [Effect] Persistent competition and the firm's value orientation should leave little room for margin expansion",
    "gold": "[Cause] Five Below will likely have to reinvest savings derived from operational leverage into keeping prices low and perceived value high [Relation] cause [Effect] Persistent competition and the firm's value orientation should leave little room for margin expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The strategy is two-fold 鈥 accelerating diagnosis of the underpenetrated market and monitoring patient compliance which keeps diagnosed patients in the treatment net and payers happier to reimburse the cost of respiratory devices.",
    "output": "[Cause] The strategy is two-fold  accelerating diagnosis of the underpenetrated market and monitoring patient compliance [Relation] enable [Effect] diagnosed patients in the treatment net and payers happier to reimburse the cost of respiratory devices",
    "gold": "[Cause] The strategy is two-fold 鈥 accelerating diagnosis of the underpenetrated market and monitoring patient compliance [Relation] enable [Effect]  diagnosed patients in the treatment net and payers happier to reimburse the cost of respiratory devices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In terms of cost advantage, we would need to see evidence that an iBuyer can structurally speed up and streamline the home purchase and sale process compared with competitors to reduce transaction costs, holding costs, and interest expenses.",
    "output": "[Cause] an iBuyer can structurally speed up and streamline the home purchase and sale process compared with competitors [Relation] enable [Effect] reduce transaction costs, holding costs, and interest expenses",
    "gold": "[Cause] competitors to reduce transaction costs, holding costs, and interest expenses [Relation] enable [Effect] In terms of cost advantage, we would need to see evidence that an iBuyer can structurally speed up and streamline the home purchase and sale process compared",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As a result, Veoneer has a large degree of operating leverage, so sudden declines in volume can have a meaningful impact on profit.",
    "output": "[Cause] Veoneer has a large degree of operating leverage [Relation] cause [Effect] sudden declines in volume can have a meaningful impact on profit",
    "gold": "[Cause] Veoneer has a large degree of operating leverage [Relation] cause [Effect] sudden declines in volume can have a meaningful impact on profit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, cybersecurity defense and prevention complexities increase as the source of malicious threats moves from rogue individuals to clandestine operations that could be state-sponsored.",
    "output": "[Cause] the source of malicious threats moves from rogue individuals to clandestine operations that could be state-sponsored [Relation] cause [Effect] cybersecurity defense and prevention complexities increase",
    "gold": "[Cause] the source of malicious threats moves from rogue individuals to clandestine operations that could be state-sponsored [Relation] cause [Effect] cybersecurity defense and prevention complexities increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "HPE's R&D expenditures lag competitive peers (on a percentage of revenue basis) and trimming operating expenditures could further inhibit HPE's technology and sales pipelines.",
    "output": "[Cause] HPE's R&D expenditures lag competitive peers (on a percentage of revenue basis) and trimming operating expenditures [Relation] prevent [Effect] HPE's technology and sales pipelines",
    "gold": "[Cause] HPE's R&D expenditures lag competitive peers (on a percentage of revenue basis) and trimming operating expenditures [Relation] prevent [Effect]  HPE's technology and sales pipelines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Albemarle also faces execution risk in ramping up its lithium production as the company has faced challenges in ramping up production of its new capacity, such as the La Negra III and IV facilities in Chile and the Kemerton facilities in Australia.",
    "output": "[Cause] the company has faced challenges in ramping up production of its new capacity [Relation] cause [Effect] Albemarle also faces execution risk in ramping up its lithium production",
    "gold": "[Cause] the company has faced challenges in ramping up production of its new capacity [Relation] cause [Effect] Albemarle also faces execution risk in ramping up its lithium production",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Marriott's high exposure to fee-based properties (97% of total rooms) reduces the operating income impact in a downturn, as fixed costs are much lower than with ownership-based properties.",
    "output": "[Cause] fixed costs are much lower than with ownership-based properties [Relation] cause [Effect] Marriott's high exposure to fee-based properties (97% of total rooms) reduces the operating income impact in a downturn",
    "gold": "[Cause]  fixed costs are much lower than with ownership-based properties [Relation] cause [Effect] Marriott's high exposure to fee-based properties (97% of total rooms) reduces the operating income impact in a downturn",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we think Royal's go-forward strategy will package incremental benefits in its itineraries, we suspect this will serve to boost onboard spending at the expense of ticket prices over the near term, still leading to lower total per diem yields than 2019's peak figure (signaling limited pricing power).",
    "output": "[Cause] Royal's go-forward strategy [Relation] enable [Effect] package incremental benefits in its itineraries",
    "gold": "[Cause] Royal's go-forward strategy [Relation] cause [Effect] this will serve to boost onboard spending at the expense of ticket prices over the near term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "About one third of risk-weighted assets are tied up in unprofitable businesses (Ulster Bank RoI, 9%, and NatWest markets, 24%), which form a significant drag on overall results.",
    "output": "[Cause] About one third of risk-weighted assets are tied up in unprofitable businesses [Relation] cause [Effect] a significant drag on overall results",
    "gold": "[Cause] About one third of risk-weighted assets are tied up in unprofitable businesses [Relation] cause [Effect] a significant drag on overall results",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Regulatory requirements, reproducibility concerns, and employee training factors create switching costs for Waters' pharmaceutical customers, which results in a very long potential benefit period for Waters in this regulated market.",
    "output": "[Cause] Regulatory requirements, reproducibility concerns, and employee training factors [Relation] cause [Effect] switching costs for Waters' pharmaceutical customers",
    "gold": "[Cause] Regulatory requirements, reproducibility concerns, and employee training factors [Relation] enable [Effect] switching costs for Waters' pharmaceutical customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Regulatory requirements, reproducibility concerns, and employee training factors create switching costs for Waters' pharmaceutical customers, which results in a very long potential benefit period for Waters in this regulated market.",
    "output": "[Cause] switching costs for Waters' pharmaceutical customers [Relation] cause [Effect] a very long potential benefit period for Waters in this regulated market",
    "gold": "[Cause] switching costs for Waters' pharmaceutical customers [Relation] cause [Effect] a very long potential benefit period for Waters in this regulated market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the greater number of subscribers who give up television and wireline phone service to offset higher pricing opportunities for some Internet and television subscribers.",
    "output": "[Cause] the greater number of subscribers who give up television and wireline phone service [Relation] prevent [Effect] higher pricing opportunities for some Internet and television subscribers",
    "gold": "[Cause] the greater number of subscribers who give up television and wireline phone service [Relation] prevent [Effect] higher pricing opportunities for some Internet and television subscribers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To prolong the excess returns enabled by leading-edge process technology, or nodes, TSMC initially focuses on logic products, mostly used on central processing units, or CPUs, and mobile chips, then focuses on more cost-conscious applications.",
    "output": "[Cause] TSMC initially focuses on logic products, mostly used on central processing units, or CPUs, and mobile chips, then focuses on more cost-conscious applications [Relation] enable [Effect] prolong the excess returns enabled by leading-edge process technology, or nodes",
    "gold": "[Cause] To prolong the excess returns enabled by leading-edge process technology, or nodes, [Relation] cause [Effect] TSMC initially focuses on logic products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Roper's offerings specifically address these needs, which we believe creates a stickier offering and makes it harder for large players to displace them. Consequently, it also offers Roper greater than inflation pricing power, giving us confidence that this segment can grow its organic top-line CAGR at about 5.5% over the next 10 years.",
    "output": "[Cause] Roper's offerings specifically address these needs, which we believe creates a stickier offering and makes it harder for large players to displace them [Relation] cause [Effect] it also offers Roper greater than inflation pricing power, giving us confidence that this segment can grow its organic top-line CAGR at about 5.5% over the next 10 years",
    "gold": "[Cause] Roper's offerings specifically address these needs, which we believe creates a stickier offering and makes it harder for large players to displace them [Relation] cause [Effect]  it also offers Roper greater than inflation pricing power, giving us confidence that this segment can grow its organic top-line CAGR at about 5.5% over the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Foremost, Blackbaud is entering 2021 having roughly halved its real estate footprint, resulting in $14 million in annual cost savings moving forward.",
    "output": "[Cause] Blackbaud is entering 2021 having roughly halved its real estate footprint [Relation] cause [Effect] $14 million in annual cost savings moving forward",
    "gold": "[Cause] Blackbaud is entering 2021 having roughly halved its real estate footprint [Relation] enable [Effect] $14 million in annual cost savings moving forward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Investment in automation and IT infrastructure have escalated and in the past decade, and Cardinal Health has invested nearly $18 billion between capital expenditures ($3.1 billion) and acquisitions ($14.5 billion) in order to strengthen its position in a mature industry.",
    "output": "[Cause] Cardinal Health has invested nearly $18 billion between capital expenditures ($3.1 billion) and acquisitions ($14.5 billion) [Relation] enable [Effect] strengthen its position in a mature industry",
    "gold": "[Cause] Cardinal Health has invested nearly $18 billion between capital expenditures ($3.1 billion) and acquisitions ($14.5 billion) [Relation] enable [Effect] strengthen its position in a mature industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If an enterprise were using MongoDB under the Community Server, they would need to publish any changes they made to the source code to the entire MongoDB community.",
    "output": "[Cause] an enterprise were using MongoDB under the Community Server [Relation] cause [Effect] they would need to publish any changes they made to the source code to the entire MongoDB community",
    "gold": "[Cause] an enterprise were using MongoDB under the Community Server [Relation] cause [Effect]  they would need to publish any changes they made to the source code to the entire MongoDB community",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the TAM to grow over time as management adds features to the AspenOne platform and the company moves more meaningfully into areas outside of its core markets.",
    "output": "[Cause] management adds features to the AspenOne platform and the company moves more meaningfully into areas outside of its core markets [Relation] cause [Effect] the TAM to grow over time",
    "gold": "[Cause] management adds features to the AspenOne platform and the company moves more meaningfully into areas outside of its core markets [Relation] enable [Effect] the TAM to grow over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, Tapestry's long-term profits could be affected if trade barriers or the outbreak lead to a prolonged economic slowdown in China, which we project as Tapestry's highest-growth region.",
    "output": "[Cause] trade barriers or the outbreak lead to a prolonged economic slowdown in China [Relation] cause [Effect] Tapestry's long-term profits could be affected",
    "gold": "[Cause] trade barriers or the outbreak [Relation] cause [Effect] prolonged economic slowdown in China",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, our primary concern is that consumers can still search online for similar products at more competitive prices, bounding our upside outlook.",
    "output": "[Cause] consumers can still search online for similar products at more competitive prices [Relation] prevent [Effect] our upside outlook",
    "gold": "[Cause] consumers can still search online for similar products at more competitive prices [Relation] prevent [Effect] our upside outlook",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Opportunities that don't currently satisfy this criteria may be upgraded later, if the company can reduce the expected development cost or boost the likely flow rate of the well.",
    "output": "[Cause] the company can reduce the expected development cost or boost the likely flow rate of the well [Relation] cause [Effect] Opportunities that don't currently satisfy this criteria may be upgraded later",
    "gold": "[Cause] the company can reduce the expected development cost or boost the likely flow rate of the well [Relation] cause [Effect] Opportunities that don't currently satisfy this criteria may be upgraded later",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While intermodal was hit hard throughout 2019 due to heavy competition from depressed truckload rates, it bounced back nicely as truckload-market capacity tightened in the second half of 2020, and we consider it to be a key long-term secular growth driver.",
    "output": "[Cause] heavy competition from depressed truckload rates [Relation] cause [Effect] intermodal was hit hard throughout 2019",
    "gold": "[Cause] heavy competition from depressed truckload rates [Relation] cause [Effect]  intermodal was hit hard throughout 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While intermodal was hit hard throughout 2019 due to heavy competition from depressed truckload rates, it bounced back nicely as truckload-market capacity tightened in the second half of 2020, and we consider it to be a key long-term secular growth driver.",
    "output": "[Cause] truckload-market capacity tightened in the second half of 2020 [Relation] cause [Effect] it bounced back nicely",
    "gold": "[Cause]  truckload-market capacity tightened in the second half of 2020 [Relation] enable [Effect] it bounced back nicely",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "LabCorp should take advantage of the long-term secular trends that bode well for the diagnostics industry, as the proliferation of new tests grows and new disease markers and genetic mutations with pharmacogenomic implications are discovered.",
    "output": "[Cause] the proliferation of new tests grows and new disease markers and genetic mutations with pharmacogenomic implications are discovered [Relation] cause [Effect] LabCorp should take advantage of the long-term secular trends that bode well for the diagnostics industry",
    "gold": "[Cause]  the proliferation of new tests grows and new disease markers and genetic mutations with pharmacogenomic implications are discovered [Relation] cause [Effect] LabCorp should take advantage of the long-term secular trends that bode well for the diagnostics industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Bain forecasts Chinese consumers (both in China and other territories) will constitute 45% of the worldwide luxury market by 2023 as more Chinese move into the middle class.",
    "output": "[Cause] more Chinese move into the middle class [Relation] cause [Effect] Chinese consumers (both in China and other territories) will constitute 45% of the worldwide luxury market by 2023",
    "gold": "[Cause] more Chinese move into the middle class [Relation] cause [Effect]  Chinese consumers (both in China and other territories) will constitute 45% of the worldwide luxury market by 2023",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Still, DCP has few advantages in this environment with exposure to the Permian, high leverage, and more commodity exposure than most midstream entities.",
    "output": "[Cause] exposure to the Permian, high leverage, and more commodity exposure than most midstream entities [Relation] cause [Effect] DCP has few advantages in this environment",
    "gold": "[Cause] exposure to the Permian, high leverage, and more commodity exposure than most midstream entities [Relation] cause [Effect]  DCP has few advantages in this environment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ultimately, the operational risks to changing mission critical technology infrastructure is high, which is why core elements such as ERP systems and cloud providers are rarely changed.",
    "output": "[Cause] the operational risks to changing mission critical technology infrastructure is high [Relation] cause [Effect] core elements such as ERP systems and cloud providers are rarely changed",
    "gold": "[Cause] the operational risks to changing mission critical technology infrastructure is high [Relation] cause [Effect] core elements such as ERP systems and cloud providers are rarely changed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's average daily data ingest nearly tripled from 28 terabytes to 76 terabytes a day. This also led to an increase in search volume from 20 million to 23 million, with volumes growing from 37 terabytes to 109 terabytes per day.",
    "output": "[Cause] The company's average daily data ingest nearly tripled from 28 terabytes to 76 terabytes a day [Relation] cause [Effect] an increase in search volume from 20 million to 23 million, with volumes growing from 37 terabytes to 109 terabytes per day",
    "gold": "[Cause] The company's average daily data ingest nearly tripled from 28 terabytes to 76 terabytes a day [Relation] cause [Effect] an increase in search volume from 20 million to 23 million, with volumes growing from 37 terabytes to 109 terabytes per day",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm produces some of the best operating margins in the defense prime business because it develops its products primarily with internal research and development spending, which gives it premium pricing capabilities with the customer.",
    "output": "[Cause] it develops its products primarily with internal research and development spending [Relation] cause [Effect] The firm produces some of the best operating margins in the defense prime business",
    "gold": "[Cause] develops its products primarily with internal research and development spending [Relation] enable [Effect] premium pricing capabilities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, cars' increasingly advanced technology presents an obstacle for smaller repair shops, which are less able to afford the equipment and training needed to provide competent service.",
    "output": "[Cause] cars' increasingly advanced technology [Relation] cause [Effect] an obstacle for smaller repair shops",
    "gold": "[Cause] less able to afford the equipment and training needed to provide competent service [Relation] cause [Effect] cars' increasingly advanced technology presents an obstacle for smaller repair shops",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "TJX faces an unsettled retail landscape as rising vaccination rates collide with emerging mutant virus strains, and the firm laps depressed fiscal 2021 sales.",
    "output": "[Cause] rising vaccination rates collide with emerging mutant virus strains [Relation] cause [Effect] TJX faces an unsettled retail landscape",
    "gold": "[Cause] rising vaccination rates collide with emerging mutant virus strains [Relation] cause [Effect] TJX faces an unsettled retail landscape",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "TJX faces an unsettled retail landscape as rising vaccination rates collide with emerging mutant virus strains, and the firm laps depressed fiscal 2021 sales.",
    "output": "[Cause] rising vaccination rates collide with emerging mutant virus strains [Relation] cause [Effect] TJX faces an unsettled retail landscape",
    "gold": "[Cause] the firm laps depressed fiscal 2021 sales [Relation] cause [Effect] TJX faces an unsettled retail landscape",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect food cans to gradually lose share in North America and Europe, as consumers increasingly turn to fresh produce.",
    "output": "[Cause] consumers increasingly turn to fresh produce [Relation] cause [Effect] food cans to gradually lose share in North America and Europe",
    "gold": "[Cause] consumers increasingly turn to fresh produce [Relation] cause [Effect] food cans to gradually lose share in North America and Europe",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With increased political ad spending, the election cycle has become particularly important, especially around presidential or midterm congressional contests in even-numbered years.",
    "output": "[Cause] increased political ad spending [Relation] cause [Effect] the election cycle has become particularly important",
    "gold": "[Cause] increased political ad spending [Relation] cause [Effect]  presidential or midterm congressional contests in even-numbered years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Quest's advantageous cost structure and national coverage are also appealing to the payers that structure reimbursement and policies to funnel patients to the large independent labs.",
    "output": "[Cause] structure reimbursement and policies to funnel patients to the large independent labs [Relation] enable [Effect] Quest's advantageous cost structure and national coverage are also appealing to the payers",
    "gold": "[Cause] Quest's advantageous cost structure and national coverage [Relation] enable [Effect] appealing to the payers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Compared with suburban markets, these urban markets are considerably more land-constrained and subject to more stringent zoning restrictions, limiting construction.",
    "output": "[Cause] these urban markets are considerably more land-constrained and subject to more stringent zoning restrictions [Relation] prevent [Effect] construction",
    "gold": "[Cause] these urban markets are considerably more land-constrained and subject to more stringent zoning restrictions [Relation] prevent [Effect]  construction",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Recent acquisitions in the business should position Scotts to take advantage of growing demand from states where cannabis has been recently legalized.",
    "output": "[Cause] Recent acquisitions in the business [Relation] enable [Effect] Scotts to take advantage of growing demand from states where cannabis has been recently legalized",
    "gold": "[Cause] Recent acquisitions in the business [Relation] enable [Effect] Scotts to take advantage of growing demand from states where cannabis has been recently legalized",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The growth of the CBS segment will be driven by retransmission and reverse compensation growth as the national CBS network commands a greater share of revenue from both local affiliate broadcast stations and pay-television providers.",
    "output": "[Cause] the national CBS network commands a greater share of revenue from both local affiliate broadcast stations and pay-television providers [Relation] cause [Effect] The growth of the CBS segment will be driven by retransmission and reverse compensation growth",
    "gold": "[Cause] the national CBS network commands a greater share of revenue from both local affiliate broadcast stations and pay-television providers [Relation] cause [Effect] The growth of the CBS segment will be driven by retransmission and reverse compensation growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are reducing our fair value estimate to $22.50 per share from $23 largely as a result of slightly higher pressures on the crop science business that will likely pressure sales well into 2021.",
    "output": "[Cause] slightly higher pressures on the crop science business [Relation] cause [Effect] We are reducing our fair value estimate to $22.50 per share from $23 largely",
    "gold": "[Cause] slightly higher pressures on the crop science business [Relation] cause [Effect] We are reducing our fair value estimate to $22.50 per share from $23 largely",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are reducing our fair value estimate to $22.50 per share from $23 largely as a result of slightly higher pressures on the crop science business that will likely pressure sales well into 2021.",
    "output": "[Cause] slightly higher pressures on the crop science business [Relation] cause [Effect] We are reducing our fair value estimate to $22.50 per share from $23 largely",
    "gold": "[Cause]  slightly higher pressures on the crop science business [Relation] cause [Effect]  will likely pressure sales well into 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe an equity-heavy approach significantly raises uncertainty for Markel as it faces potential stress on both sides of the balance sheet, and we believe investors should look for a higher margin of safety relative to its peers.",
    "output": "[Cause] it faces potential stress on both sides of the balance sheet [Relation] cause [Effect] an equity-heavy approach significantly raises uncertainty for Markel",
    "gold": "[Cause] it faces potential stress on both sides of the balance sheet [Relation] cause [Effect] an equity-heavy approach significantly raises uncertainty for Markel",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Hubbell differentiates itself in a competitive market with strong brands, breadth of product offering, and its ability to lower a customer's total cost of ownership while managing a high degree of SKU complexity.",
    "output": "[Cause] strong brands, breadth of product offering, and its ability to lower a customer's total cost of ownership while managing a high degree of SKU complexity [Relation] enable [Effect] Hubbell differentiates itself in a competitive market",
    "gold": "[Cause] strong brands, breadth of product offering, and its ability to lower a customer's total cost of ownership while managing a high degree of SKU complexity [Relation] enable [Effect] Hubbell differentiates itself in a competitive market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Motorcycles are big-ticket purchases, and a slowdown in the domestic economic environment could hamper the replacement and adoption rates of these products.",
    "output": "[Cause] a slowdown in the domestic economic environment [Relation] prevent [Effect] the replacement and adoption rates of these products",
    "gold": "[Cause] a slowdown in the domestic economic environment [Relation] prevent [Effect] the replacement and adoption rates of these products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management execution has been impressive over the past five-plus years, with a renewed focus on yield management and optimizing the cost infrastructure, including the divestiture of noncore waste-to-energy assets. These factors have enabled the firm to translate North American macroeconomic expansion into waste volume gains, core pricing above inflation, and positive operating leverage.",
    "output": "[Cause] Management execution has been impressive over the past five-plus years, with a renewed focus on yield management and optimizing the cost infrastructure, including the divestiture of noncore waste-to-energy assets [Relation] enable [Effect] the firm to translate North American macroeconomic expansion into waste volume gains, core pricing above inflation, and positive operating leverage",
    "gold": "[Cause] Management execution has been impressive over the past five-plus years, with a renewed focus on yield management and optimizing the cost infrastructure, including the divestiture of noncore waste-to-energy assets [Relation] enable [Effect] the firm to translate North American macroeconomic expansion into waste volume gains, core pricing above inflation, and positive operating leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect gross margin to trend lower in the long run from 63.7% in 2020 to 61.4% in 2030 to factor in the gradual shift toward lower-margin mobile games from higher-margin PC games in China.",
    "output": "[Cause] gross margin to trend lower in the long run from 63.7% in 2020 to 61.4% in 2030 [Relation] cause [Effect] factor in the gradual shift toward lower-margin mobile games from higher-margin PC games in China",
    "gold": "[Cause]  the gradual shift toward lower-margin mobile games from higher-margin PC games in China [Relation] cause [Effect] gross margin to trend lower in the long run from 63.7% in 2020 to 61.4% in 2030",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We contend that the Instant Oil Change banner can expand from 1,462 locations in fiscal 2020 to nearly 2,000 by the end of fiscal 2030 as the industry consolidates.",
    "output": "[Cause] the Instant Oil Change banner can expand from 1,462 locations in fiscal 2020 to nearly 2,000 by the end of fiscal 2030 [Relation] cause [Effect] the industry consolidates",
    "gold": "[Cause] the industry consolidates [Relation] enable [Effect] the Instant Oil Change banner can expand from 1,462 locations in fiscal 2020 to nearly 2,000 by the end of fiscal 2030",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Some evidence suggests that Agco's market share has declined in recent years in Brazil as Deere has ramped up its sales efforts in the region.",
    "output": "[Cause] Deere has ramped up its sales efforts in the region [Relation] cause [Effect] Agco's market share has declined in recent years in Brazil",
    "gold": "[Cause] Agco's market share has declined [Relation] prevent [Effect] in Brazil as Deere has ramped up its sales efforts in the region",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although Barclays is one of the top 10 credit card issuers in the U.S., we think it is missing a substantial deposit franchise to effectively compete and collect economic rents from customers.",
    "output": "[Cause] missing a substantial deposit franchise [Relation] prevent [Effect] effectively compete and collect economic rents from customers",
    "gold": "[Cause] Barclays is one of the top 10 credit card issuers in the U.S [Relation] cause [Effect] missing a substantial deposit franchise to effectively compete and collect economic rents from customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, thanks to the MRO business (Interline Brands and soon HD Supply), pro revenue could be less cyclical, as the maintenance side of the business can prove more consistent.",
    "output": "[Cause] the maintenance side of the business can prove more consistent [Relation] cause [Effect] pro revenue could be less cyclical",
    "gold": "[Cause]  the MRO business (Interline Brands and soon HD Supply) [Relation] cause [Effect] pro revenue could be less cyclical",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We assume roughly $2 billion in peak global Monjuvi sales ($750 million in Incyte territories), but there is significant upside if the drug gains approval in combination with Rituxan/chemo in the first-line setting; a phase 3 study is starting in 2021.",
    "output": "[Cause] the drug gains approval in combination with Rituxan/chemo in the first-line setting [Relation] cause [Effect] significant upside",
    "gold": "[Cause]  the drug gains approval in combination with Rituxan/chemo in the first-line setting [Relation] enable [Effect] significant upside",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our DCF-derived fair value estimate continues to assume the company will face an uneven finish to 2020 and start to 2021 due to COVID-19 but also a strong recovery in subsequent years.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] Our DCF-derived fair value estimate continues to assume the company will face an uneven finish to 2020 and start to 2021",
    "gold": "[Cause] COVID-19 | a strong recovery in subsequent years [Relation] cause [Effect] Our DCF-derived fair value estimate continues to assume the company will face an uneven finish to 2020 and start to 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As global solar market growth accelerates due to lower costs and tougher environmental standards, First Solar has narrowed its strategic focus to the United States, Europe, and India.",
    "output": "[Cause] lower costs and tougher environmental standards [Relation] cause [Effect] global solar market growth accelerates",
    "gold": "[Cause] lower costs and tougher environmental standards [Relation] cause [Effect] global solar market growth accelerates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As global solar market growth accelerates due to lower costs and tougher environmental standards, First Solar has narrowed its strategic focus to the United States, Europe, and India.",
    "output": "[Cause] lower costs and tougher environmental standards [Relation] cause [Effect] global solar market growth accelerates",
    "gold": "[Cause] global solar market growth accelerates [Relation] cause [Effect] First Solar has narrowed its strategic focus to the United States, Europe, and India",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With essentially all of its nearly 9,000-plus hotels managed or franchised, Wyndham has an attractive recurring-fee business model with healthy returns on invested capital, as these asset-light relationships have low fixed costs and capital requirements.",
    "output": "[Cause] these asset-light relationships have low fixed costs and capital requirements [Relation] cause [Effect] Wyndham has an attractive recurring-fee business model with healthy returns on invested capital",
    "gold": "[Cause] these asset-light relationships have low fixed costs and capital requirements [Relation] enable [Effect] Wyndham has an attractive recurring-fee business model with healthy returns on invested capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, Stryker management has demonstrated an acute understanding of new opportunities for med-tech competitors that have arisen thanks to the shift toward value-based reimbursement that has put pressure on providers.",
    "output": "[Cause] the shift toward value-based reimbursement that has put pressure on providers [Relation] cause [Effect] Stryker management has demonstrated an acute understanding of new opportunities for med-tech competitors that have arisen",
    "gold": "[Cause]  the shift toward value-based reimbursement [Relation] cause [Effect] pressure on providers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm has built an extremely compelling cost structure, partially thanks to its scale, its extensive footprint in animal healthcare markets, and its ability to do direct distribution.",
    "output": "[Cause] its scale, its extensive footprint in animal healthcare markets, and its ability to do direct distribution [Relation] cause [Effect] The firm has built an extremely compelling cost structure",
    "gold": "[Cause] its scale, its extensive footprint in animal healthcare markets, and its ability to do direct distribution [Relation] cause [Effect] The firm has built an extremely compelling cost structure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite its lead in the U.S., Roku is one of the smaller players in terms of total revenue and financial resources as the firm competes with not only other streaming devices but also smart TVs and video game consoles.",
    "output": "[Cause] the firm competes with not only other streaming devices but also smart TVs and video game consoles [Relation] cause [Effect] Roku is one of the smaller players in terms of total revenue and financial resources",
    "gold": "[Cause] the firm competes with not only other streaming devices but also smart TVs and video game consoles [Relation] enable [Effect] Roku is one of the smaller players in terms of total revenue and financial resources",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Pricing increases haven't been this strong in almost 20 years. This should boost growth a bit in the near term and has helped offset any negative impacts of the coronavirus on the more discretionary areas of the business.",
    "output": "[Cause] Pricing increases haven't been this strong in almost 20 years [Relation] enable [Effect] boost growth a bit in the near term and has helped offset any negative impacts of the coronavirus on the more discretionary areas of the business",
    "gold": "[Cause] Pricing increases haven't been this strong in almost 20 years [Relation] cause [Effect]  boost growth a bit in the near term and has helped offset any negative impacts of the coronavirus on the more discretionary areas of the business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, organic growth and market gains could be strained in the near to medium term by the lingering effects of the COVID-19 pandemic could have on economic growth and the equity and credit markets. As such, we are sticking with our forecast for organic AUM growth to average 2%-4% annually during fiscal 2021-25, with overall AUM growing at a mid-single-digit rate annually on average.",
    "output": "[Cause] organic growth and market gains could be strained in the near to medium term by the lingering effects of the COVID-19 pandemic could have on economic growth and the equity and credit markets [Relation] cause [Effect] we are sticking with our forecast for organic AUM growth to average 2%-4% annually during fiscal 2021-25, with overall AUM growing at a mid-single-digit rate annually on average",
    "gold": "[Cause] organic growth and market gains could be strained in the near to medium term by the lingering effects of the COVID-19 pandemic could have on economic growth and the equity and credit markets [Relation] cause [Effect] we are sticking with our forecast for organic AUM growth to average 2%-4% annually during fiscal 2021-25, with overall AUM growing at a mid-single-digit rate annually on average",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given its focus on the most differentiated portions of the market, the segment also has one of the firm's strongest patent portfolios, with more than 3,800 granted or pending in total for ITW.",
    "output": "[Cause] its focus on the most differentiated portions of the market [Relation] cause [Effect] the segment also has one of the firm's strongest patent portfolios, with more than 3,800 granted or pending in total for ITW",
    "gold": "[Cause] its focus on the most differentiated portions of the market [Relation] enable [Effect] the segment also has one of the firm's strongest patent portfolios, with more than 3,800 granted or pending in total for ITW",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Yet, we think that CGI's growth potential is more limited than its peers due to the greater resources we find enterprises have to invest in themselves.",
    "output": "[Cause] the greater resources we find enterprises have to invest in themselves [Relation] cause [Effect] CGI's growth potential is more limited than its peers",
    "gold": "[Cause] the greater resources we find enterprises have to invest in themselves [Relation] prevent [Effect] CGI's growth potential is more limited than its peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With years of intelligence, millions of daily data points, and carrier redundancies to support the flow of information, Twilio has garnered a competitive edge in the space.",
    "output": "[Cause] years of intelligence, millions of daily data points, and carrier redundancies to support the flow of information [Relation] enable [Effect] Twilio has garnered a competitive edge in the space",
    "gold": "[Cause] years of intelligence, millions of daily data points, and carrier redundancies to support the flow of information [Relation] cause [Effect] Twilio has garnered a competitive edge in the space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Las Vegas revenue to grow 225% in 2021, aided by a market recovery in demand as vaccines continue to get distributed and due to the merger between Eldorado and Caesars that closed July 2020.",
    "output": "[Cause] vaccines continue to get distributed [Relation] cause [Effect] Las Vegas revenue to grow 225% in 2021",
    "gold": "[Cause] a market recovery in demand [Relation] cause [Effect] Las Vegas revenue to grow 225% in 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect Las Vegas revenue to grow 225% in 2021, aided by a market recovery in demand as vaccines continue to get distributed and due to the merger between Eldorado and Caesars that closed July 2020.",
    "output": "[Cause] vaccines continue to get distributed and due to the merger between Eldorado and Caesars that closed July 2020 [Relation] cause [Effect] Las Vegas revenue to grow 225% in 2021",
    "gold": "[Cause] vaccines continue to get distributed and due to the merger between Eldorado and Caesars that closed July 2020 [Relation] enable [Effect] a market recovery in demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Its latest investment strategy calls for reducing its hydrocarbon portfolio through divestments and investing greater amounts in renewable power generation where it has less experience and returns are typically lower.",
    "output": "[Cause] divestments and investing greater amounts in renewable power generation [Relation] enable [Effect] reducing its hydrocarbon portfolio",
    "gold": "[Cause] it has less experience [Relation] cause [Effect] returns are typically lower",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "British American's reporting currency is sterling, but it only generates around 1% of sales in Britain, while only a very small percentage of the company's operating costs is denominated in sterling, meaning that the firm is highly exposed to a strengthening of the British pound.",
    "output": "[Cause] British American's reporting currency is sterling, but it only generates around 1% of sales in Britain, while only a very small percentage of the company's operating costs is denominated in sterling [Relation] cause [Effect] the firm is highly exposed to a strengthening of the British pound",
    "gold": "[Cause] British American's reporting currency is sterling, but it only generates around 1% of sales in Britain, while only a very small percentage of the company's operating costs is denominated in sterling [Relation] cause [Effect] the firm is highly exposed to a strengthening of the British pound",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, Seagate was the first to ship 16 TB drives, and won enterprise market share from Western Digital in 2020 because of it.",
    "output": "[Cause] Seagate was the first to ship 16 TB drives [Relation] cause [Effect] won enterprise market share from Western Digital in 2020",
    "gold": "[Cause] Seagate was the first to ship 16 TB drives [Relation] enable [Effect] won enterprise market share from Western Digital in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Multinational corporations that operate globally are increasingly turning to firms such as JLL as a one-stop-shop for their real estate needs. As a result, the company is a preferred option among larger clients, especially as these types of firms increasingly look to outsource their real estate operations.",
    "output": "[Cause] Multinational corporations that operate globally are increasingly turning to firms such as JLL as a one-stop-shop for their real estate needs [Relation] cause [Effect] the company is a preferred option among larger clients, especially as these types of firms increasingly look to outsource their real estate operations",
    "gold": "[Cause] Multinational corporations that operate globally are increasingly turning to firms such as JLL as a one-stop-shop for their real estate needs [Relation] cause [Effect] the company is a preferred option among larger clients, especially as these types of firms increasingly look to outsource their real estate operations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the proliferation of cloud computing and burgeoning artificial intelligence trend will provide tailwinds for Intel's data-centric businesses, which we see growing in the high single digits through 2025.",
    "output": "[Cause] the proliferation of cloud computing and burgeoning artificial intelligence trend [Relation] cause [Effect] provide tailwinds for Intel's data-centric businesses",
    "gold": "[Cause] the proliferation of cloud computing and burgeoning artificial intelligence trend [Relation] enable [Effect] Intel's data-centric businesses, which we see growing in the high single digits through 2025",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the medium term, PSXP should be able to capitalize on opportunities to pursue greater levels of attractive organic investments in its network as Phillips 66 drops down more midstream assets to PSXP.",
    "output": "[Cause] Phillips 66 drops down more midstream assets to PSXP [Relation] cause [Effect] PSXP should be able to capitalize on opportunities to pursue greater levels of attractive organic investments in its network",
    "gold": "[Cause] Phillips 66 drops down more midstream assets to PSXP [Relation] cause [Effect]  PSXP should be able to capitalize on opportunities to pursue greater levels of attractive organic investments in its network",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Brownfield expansions in Russia and Nigeria along with a greenfield project in Mozambique will add low-cost supply to Total's LNG portfolio.",
    "output": "[Cause] Brownfield expansions in Russia and Nigeria along with a greenfield project in Mozambique [Relation] enable [Effect] add low-cost supply to Total's LNG portfolio",
    "gold": "[Cause] Brownfield expansions in Russia and Nigeria along with a greenfield project in Mozambique [Relation] cause [Effect]  add low-cost supply to Total's LNG portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, while grocery stores are extremely important to their entire shopping center as a regular driver of traffic to the property, there are multiple grocery stores, big-box discounters like Walmart and Target, and specialty food stores that compete on quality or price of groceries in any given submarket that offer essentially the same groceries. As a result, a grocery store might be able to dominate the immediate trade area based on convenience to consumers but doesn't present any other unique draw for shoppers.",
    "output": "[Cause] while grocery stores are extremely important to their entire shopping center as a regular driver of traffic to the property, there are multiple grocery stores, big-box discounters like Walmart and Target, and specialty food stores that compete on quality or price of groceries in any given submarket that offer essentially the same groceries [Relation] cause [Effect] a grocery store might be able to dominate the immediate trade area based on convenience to consumers but doesn't present any other unique draw for shoppers",
    "gold": "[Cause] while grocery stores are extremely important to their entire shopping center as a regular driver of traffic to the property, there are multiple grocery stores, big-box discounters like Walmart and Target, and specialty food stores that compete on quality or price of groceries in any given submarket that offer essentially the same groceries [Relation] cause [Effect] a grocery store might be able to dominate the immediate trade area based on convenience to consumers but doesn't present any other unique draw for shoppers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the tilt toward architectural coatings, we expect the segment to benefit in the medium term from a gradual increase in new- and existing-home transactions.",
    "output": "[Cause] the tilt toward architectural coatings [Relation] cause [Effect] the segment to benefit in the medium term from a gradual increase in new- and existing-home transactions",
    "gold": "[Cause] the tilt toward architectural coatings [Relation] cause [Effect] the segment to benefit in the medium term from a gradual increase in new- and existing-home transactions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The large cash flows create an economy of scale that enables AbbVie to fund the average $800 million required for a new drug.",
    "output": "[Cause] The large cash flows create an economy of scale [Relation] enable [Effect] AbbVie to fund the average $800 million required for a new drug",
    "gold": "[Cause] The large cash flows create an economy of scale [Relation] enable [Effect] AbbVie to fund the average $800 million required for a new drug",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect average annual comps of 9% from 2021-24 (including 14% in 2021) due to new menu innovations, guest experience improvements and second assembly line delivery/catering orders.",
    "output": "[Cause] new menu innovations, guest experience improvements and second assembly line delivery/catering orders [Relation] cause [Effect] average annual comps of 9% from 2021-24 (including 14% in 2021)",
    "gold": "[Cause] new menu innovations, guest experience improvements and second assembly line delivery/catering orders [Relation] cause [Effect] average annual comps of 9% from 2021-24 (including 14% in 2021)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Not only do we expect pipeline volumes to continue to ramp up as Williams executes on its multi-billion-dollar expansion program, but also we expect it to be able to increase fees.",
    "output": "[Cause] Williams executes on its multi-billion-dollar expansion program [Relation] cause [Effect] pipeline volumes to continue to ramp up",
    "gold": "[Cause] Williams executes on its multi-billion-dollar expansion program [Relation] enable [Effect] pipeline volumes to continue to ramp up",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With 1.6 million nonprofits in the U.S., and only 40,000 customers, there is clearly room to grow in its core, which we think will help pull along domain sales.",
    "output": "[Cause] 1.6 million nonprofits in the U.S., and only 40,000 customers [Relation] cause [Effect] there is clearly room to grow in its core",
    "gold": "[Cause] With 1.6 million nonprofits in the U.S., and only 40,000 customers, there is clearly room to grow in its core [Relation] enable [Effect] will help pull along domain sales",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We project that net charge-offs will be roughly 0.9% through the cycle, although we see elevated charge-offs and provisioning occurring during 2020 and 2021 due to COVID-19.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] elevated charge-offs and provisioning occurring during 2020 and 2021",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] elevated charge-offs and provisioning occurring during 2020 and 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given Weixin's position as a super app, it may over-collect and abuse users' data and could be fined by the government.",
    "output": "[Cause] Weixin's position as a super app [Relation] cause [Effect] it may over-collect and abuse users' data",
    "gold": "[Cause] Weixin's position as a super app [Relation] cause [Effect] it may over-collect and abuse users' data",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given Weixin's position as a super app, it may over-collect and abuse users' data and could be fined by the government.",
    "output": "[Cause] it may over-collect and abuse users' data [Relation] cause [Effect] be fined by the government",
    "gold": "[Cause] it may over-collect and abuse users' data [Relation] cause [Effect] be fined by the government",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The segment's distribution system has also underperformed, as a relatively small share of the company's dealers are bringing in most of the revenue.",
    "output": "[Cause] a relatively small share of the company's dealers are bringing in most of the revenue [Relation] cause [Effect] The segment's distribution system has also underperformed",
    "gold": "[Cause] a relatively small share of the company's dealers are bringing in most of the revenue [Relation] cause [Effect] The segment's distribution system has also underperformed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since Seifi Ghasemi was appointed CEO in 2014, new management has launched several initiatives that drastically improved Air Products' profitability, raising EBITDA margins by over 1,500 basis points.",
    "output": "[Cause] Seifi Ghasemi was appointed CEO in 2014 [Relation] cause [Effect] new management has launched several initiatives",
    "gold": "[Cause] Seifi Ghasemi was appointed CEO in 2014 [Relation] cause [Effect] new management has launched several initiatives",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since Seifi Ghasemi was appointed CEO in 2014, new management has launched several initiatives that drastically improved Air Products' profitability, raising EBITDA margins by over 1,500 basis points.",
    "output": "[Cause] Seifi Ghasemi was appointed CEO in 2014 [Relation] cause [Effect] new management has launched several initiatives that drastically improved Air Products' profitability",
    "gold": "[Cause] new management has launched several initiatives [Relation] enable [Effect] drastically improved Air Products' profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Since Seifi Ghasemi was appointed CEO in 2014, new management has launched several initiatives that drastically improved Air Products' profitability, raising EBITDA margins by over 1,500 basis points.",
    "output": "[Cause] Seifi Ghasemi was appointed CEO in 2014 [Relation] cause [Effect] new management has launched several initiatives that drastically improved Air Products' profitability",
    "gold": "[Cause] drastically improved Air Products' profitability [Relation] enable [Effect] raising EBITDA margins by over 1,500 basis points",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The acquisition for Republic New York in 1999 for USD 10.3 billion added scale, propelling HSBC to the 11th-largest bank by asset in the U.S.",
    "output": "[Cause] The acquisition for Republic New York in 1999 for USD 10.3 billion added scale [Relation] enable [Effect] propelling HSBC to the 11th-largest bank by asset in the U.S",
    "gold": "[Cause] The acquisition for Republic New York in 1999 for USD 10.3 billion added scale [Relation] cause [Effect] propelling HSBC to the 11th-largest bank by asset in the U.S",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We model Beyond's market share increasing from 2.5% in 2019 to nearly 9% in 2029, as PBMs gain a larger share of the overall meat category, and as Beyond's brand continues to win with consumers, given its strong performance in taste tests and ongoing R&D investments.",
    "output": "[Cause] PBMs gain a larger share of the overall meat category [Relation] cause [Effect] Beyond's market share increasing from 2.5% in 2019 to nearly 9% in 2029",
    "gold": "[Cause] PBMs gain a larger share of the overall meat category [Relation] cause [Effect] Beyond's market share increasing from 2.5% in 2019 to nearly 9% in 2029",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We model Beyond's market share increasing from 2.5% in 2019 to nearly 9% in 2029, as PBMs gain a larger share of the overall meat category, and as Beyond's brand continues to win with consumers, given its strong performance in taste tests and ongoing R&D investments.",
    "output": "[Cause] PBMs gain a larger share of the overall meat category [Relation] cause [Effect] Beyond's market share increasing from 2.5% in 2019 to nearly 9% in 2029",
    "gold": "[Cause] Beyond's brand continues to win with consumers [Relation] cause [Effect] PBMs gain a larger share of the overall meat category",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, we feel that the combination of Legg Mason with Franklin will produce a slightly better organic growth profile for the acquiring firm, which we had generating negative 6%-9% annual organic growth on average during 2020-24, compared with slightly negative average annual organic AUM growth for Legg Mason during the same time frame. As a result, our current forecast has the combined firms, which will be impacted by some merger-related outflows, generating an organic growth rate of negative 4.1% CAGR for its long-term AUM, with a standard deviation of 2.8%, during 2020-24.",
    "output": "[Cause] the combination of Legg Mason with Franklin will produce a slightly better organic growth profile for the acquiring firm, which we had generating negative 6%-9% annual organic growth on average during 2020-24, compared with slightly negative average annual organic AUM growth for Legg Mason during the same time frame [Relation] cause [Effect] our current forecast has the combined firms, which will be impacted by some merger-related outflows, generating an organic growth rate of negative 4.1% CAGR for its long-term AUM, with a standard deviation of 5%",
    "gold": "[Cause] the combination of Legg Mason with Franklin will produce a slightly better organic growth profile for the acquiring firm, which we had generating negative 6%-9% annual organic growth on average during 2020-24, compared with slightly negative average annual organic AUM growth for Legg Mason during the same time frame [Relation] cause [Effect] our current forecast has the combined firms, which will be impacted by some merger-related outflows, generating an organic growth rate of negative 4.1% CAGR for its long-term AUM, with a standard deviation of 2.8%, during 2020-24",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Considered domestic systemically important banks, the four majors were required to meet the regulators 'Unquestionably Strong' common equity Tier 1 target of 10.5% by January 2020.",
    "output": "[Cause] Considered domestic systemically important banks [Relation] cause [Effect] the four majors were required to meet the regulators 'Unquestionably Strong' common equity Tier 1 target of 10.5% by January 2020",
    "gold": "[Cause] Considered domestic systemically important banks [Relation] cause [Effect]  the four majors were required to meet the regulators 'Unquestionably Strong' common equity Tier 1 target of 10.5% by January 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A customer would face little motivation to switch to a marginally cheaper supplier just to save half a percent of the total cost, given the potentially cataclysmic blow to reputation and profits that would arise from an ill-performing new system.",
    "output": "[Cause] the potentially cataclysmic blow to reputation and profits that would arise from an ill-performing new system [Relation] cause [Effect] A customer would face little motivation to switch to a marginally cheaper supplier just to save half a percent of the total cost",
    "gold": "[Cause] the potentially cataclysmic blow to reputation and profits that would arise from an ill-performing new system [Relation] cause [Effect] A customer would face little motivation to switch to a marginally cheaper supplier just to save half a percent of the total cost",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assign Pinterest a very high uncertainty rating given the company's fierce competition in winning ad dollars and the possibility of a rapidly changing e-commerce and social media landscape that could be difficult to which to adapt.",
    "output": "[Cause] the company's fierce competition in winning ad dollars [Relation] cause [Effect] Pinterest a very high uncertainty rating",
    "gold": "[Cause] the company's fierce competition in winning ad dollars [Relation] cause [Effect] Pinterest a very high uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assign Pinterest a very high uncertainty rating given the company's fierce competition in winning ad dollars and the possibility of a rapidly changing e-commerce and social media landscape that could be difficult to which to adapt.",
    "output": "[Cause] the possibility of a rapidly changing e-commerce and social media landscape [Relation] cause [Effect] Pinterest a very high uncertainty rating",
    "gold": "[Cause] social media landscape that could be difficult to which to adapt [Relation] cause [Effect] Pinterest a very high uncertainty rating",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The pandemic is causing significant disruption in global food-service markets and resulted in a 7% drop in PFG's organic sales in fiscal 2020.",
    "output": "[Cause] The pandemic [Relation] cause [Effect] significant disruption in global food-service markets",
    "gold": "[Cause] pandemic [Relation] cause [Effect]  a 7% drop in PFG's organic sales in fiscal 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We see the biggest environmental, social, and governance issue L Brands faces is consumer choice, as buyers focus on more sustainable clothes and move away from fast fashion.",
    "output": "[Cause] buyers focus on more sustainable clothes and move away from fast fashion [Relation] cause [Effect] the biggest environmental, social, and governance issue L Brands faces is consumer choice",
    "gold": "[Cause]  buyers focus on more sustainable clothes and move away from fast fashion [Relation] cause [Effect]  the biggest environmental, social, and governance issue L Brands faces is consumer choice",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the firm to maintain its market-leading position as it generates competitive organic growth post the COVID-19 pandemic, continues to make acquisitions, and increases focus on the faster-growing emerging and the overall digital ad markets.",
    "output": "[Cause] it generates competitive organic growth post the COVID-19 pandemic [Relation] cause [Effect] the firm to maintain its market-leading position",
    "gold": "[Cause] increases focus on the faster-growing emerging and the overall digital ad markets [Relation] cause [Effect]  firm to maintain its market-leading position",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, Wells Fargo has the lowest global systemically important bank surcharge among the big four, giving it a further structural return advantage from having to hold relatively less capital.",
    "output": "[Cause] Wells Fargo has the lowest global systemically important bank surcharge among the big four [Relation] enable [Effect] a further structural return advantage from having to hold relatively less capital",
    "gold": "[Cause] Wells Fargo has the lowest global systemically important bank surcharge among the big four [Relation] enable [Effect] a further structural return advantage from having to hold relatively less capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of the high degree of operating leverage (volumes drive profits) inherent in the retailers' business model and razor-thin margins, availability of products on shelves is critical.",
    "output": "[Cause] the high degree of operating leverage (volumes drive profits) inherent in the retailers' business model and razor-thin margins [Relation] cause [Effect] availability of products on shelves is critical",
    "gold": "[Cause] the high degree of operating leverage (volumes drive profits) inherent in the retailers' business model and razor-thin margins [Relation] cause [Effect] availability of products on shelves is critical",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With interest rates likely to remain low for years, further growth will have to be from newer initiatives, such as its expanded employee stock plan administration services and the discount brokerage operations from E-Trade and integrating of Eaton Vance.",
    "output": "[Cause] interest rates likely to remain low for years [Relation] cause [Effect] further growth will have to be from newer initiatives",
    "gold": "[Cause] interest rates likely to remain low for years [Relation] cause [Effect] further growth will have to be from newer initiatives",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, Kayak and Trivago metasearch competition could intensify, driven by the deep marketing pockets of Booking (which owns Kayak) and Expedia (which owns Trivago).",
    "output": "[Cause] the deep marketing pockets of Booking (which owns Kayak) and Expedia (which owns Trivago) [Relation] cause [Effect] Kayak and Trivago metasearch competition could intensify",
    "gold": "[Cause] the deep marketing pockets of Booking (which owns Kayak) and Expedia (which owns Trivago) [Relation] enable [Effect]  Kayak and Trivago metasearch competition could intensify",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The closer the assets are to the wellhead, the more susceptible they are to production declines and energy market downturns.",
    "output": "[Cause] The closer the assets are to the wellhead [Relation] cause [Effect] the more susceptible they are to production declines and energy market downturns",
    "gold": "[Cause] The closer the assets are to the wellhead [Relation] cause [Effect] the more susceptible they are to production declines and energy market downturns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Other risks to Hubbell specifically include execution risk as it integrates the Aclara acquisition and increased indebtedness on the balance sheet relative to historical norms.",
    "output": "[Cause] it integrates the Aclara acquisition and increased indebtedness on the balance sheet relative to historical norms [Relation] cause [Effect] Other risks to Hubbell specifically include execution risk",
    "gold": "[Cause] it integrates the Aclara acquisition and increased indebtedness on the balance sheet relative to historical norms [Relation] cause [Effect] Other risks to Hubbell specifically include execution risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Supply demand imbalances in these markets, which may have nothing to do with Treehouse, could impinge on its margin profile.",
    "output": "[Cause] Supply demand imbalances in these markets [Relation] cause [Effect] impinge on its margin profile",
    "gold": "[Cause] Supply demand imbalances in these markets [Relation] cause [Effect]  impinge on its margin profile",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While HDDs currently have superior cost metrics and higher capacities, SSDs have been closing these gaps and quickly limiting the number of use cases for HDDs.",
    "output": "[Cause] SSDs have been closing these gaps [Relation] prevent [Effect] the number of use cases for HDDs",
    "gold": "[Cause] HDDs currently have superior cost metrics and higher capacities [Relation] cause [Effect] SSDs have been closing these gaps and quickly limiting the number of use cases for HDDs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The risk cuts both ways as middle-income consumers trade down in times of stress (comparable-store sales averaged high-single-digit marks during the financial crisis), but much of what governs customers' shopping behavior is beyond the firm's control.",
    "output": "[Cause] middle-income consumers trade down in times of stress [Relation] cause [Effect] The risk cuts both ways",
    "gold": "[Cause]  middle-income consumers trade down in times of stress [Relation] cause [Effect] The risk cuts both ways",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Though we have our doubts about Shaw's path to success, its insurgence alone could result in losses to the three leaders, and if it proves successful, long-term share and profitability losses for Rogers could ensue.",
    "output": "[Cause] its insurgence alone [Relation] cause [Effect] losses to the three leaders",
    "gold": "[Cause] it proves successful, [Relation] cause [Effect] long-term share and profitability losses for Rogers could ensue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Moreover, the wide price range of Malibu's products, beginning at $65,000 and extending up to $800,000 for the high-end Pursuit models, alleviates our fears that a competitor could undercut Malibu with lower-priced offerings (of a similar quality) during an economic downturn.",
    "output": "[Cause] the wide price range of Malibu's products, beginning at $65,000 and extending up to $800,000 for the high-end Pursuit models [Relation] prevent [Effect] our fears that a competitor could undercut Malibu with lower-priced offerings (of a similar quality) during an economic downturn",
    "gold": "[Cause] the wide price range of Malibu's products, beginning at $65,000 and extending up to $800,000 for the high-end Pursuit models [Relation] prevent [Effect] our fears that a competitor could undercut Malibu with lower-priced offerings (of a similar quality) during an economic downturn",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Uncertainty concerning the coronavirus outbreak and regulators' intense scrutiny of diesel powertrain passenger vehicles will plague Volkswagen for several more months, and higher spending to launch electrified powertrains and diesel headline risk are pressuring the stock.",
    "output": "[Cause] Uncertainty concerning the coronavirus outbreak and regulators' intense scrutiny of diesel powertrain passenger vehicles [Relation] cause [Effect] plague Volkswagen for several more months",
    "gold": "[Cause] Uncertainty concerning the coronavirus outbreak and regulators' intense scrutiny of diesel powertrain passenger vehicles [Relation] cause [Effect] plague Volkswagen for several more months",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite Amazon's recent efforts to sign distribution agreements with manufacturers, we anticipate that incumbent retailers will be able to defend their privileged market standing because of their in-store services and ability to offer several categories of needed components on demand.",
    "output": "[Cause] their in-store services and ability to offer several categories of needed components on demand [Relation] enable [Effect] incumbent retailers will be able to defend their privileged market standing",
    "gold": "[Cause] their in-store services and ability to offer several categories of needed components on demand [Relation] cause [Effect] incumbent retailers will be able to defend their privileged market standing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "When combined with increased investments to support this fare as it relates to R&D and marketing, we think the firm is poised for a modest acceleration in sales growth long term.",
    "output": "[Cause] combined with increased investments to support this fare as it relates to R&D and marketing [Relation] enable [Effect] the firm is poised for a modest acceleration in sales growth long term",
    "gold": "[Cause] combined with increased investments to support this fare as it relates to R&D and marketing [Relation] enable [Effect] the firm is poised for a modest acceleration in sales growth long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Reliance's role is that of an intermediary, as the company distributes over 100,000 product types to over 125,000 customers.",
    "output": "[Cause] the company distributes over 100,000 product types to over 125,000 customers [Relation] cause [Effect] Reliance's role is that of an intermediary",
    "gold": "[Cause] the company distributes over 100,000 product types to over 125,000 customers [Relation] cause [Effect] Reliance's role is that of an intermediary",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Implementing RPA can help free up employees to focus on higher-value issues, reduce average interaction time, improve response times, and lead to happier customers and employees.",
    "output": "[Cause] Implementing RPA [Relation] enable [Effect] help free up employees to focus on higher-value issues, reduce average interaction time, improve response times, and lead to happier customers and employees",
    "gold": "[Cause] Implementing RPA [Relation] enable [Effect]  help free up employees to focus on higher-value issues, reduce average interaction time, improve response times, and lead to happier customers and employees",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And due to efficiency gains and economies of scale, subsequent developments are expected to cost even less on a per-barrel basis.",
    "output": "[Cause] efficiency gains and economies of scale [Relation] cause [Effect] subsequent developments are expected to cost even less on a per-barrel basis",
    "gold": "[Cause] efficiency gains and economies of scale [Relation] cause [Effect] subsequent developments are expected to cost even less on a per-barrel basis",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "PSXP's small but growing equity investments in pipelines not directly associated with Phillips 66 assets expand PSXP's ability to leverage its existing network and higher profitability to create incremental value for PSXP and Phillips 66.",
    "output": "[Cause] PSXP's small but growing equity investments in pipelines not directly associated with Phillips 66 assets [Relation] enable [Effect] expand PSXP's ability to leverage its existing network and higher profitability to create incremental value for PSXP and Phillips 66",
    "gold": "[Cause] PSXP's small but growing equity investments in pipelines not directly associated with Phillips 66 assets [Relation] enable [Effect] expand PSXP's ability to leverage its existing network and higher profitability to create incremental value for PSXP and Phillips 66",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's strong landlord relationships and square footage creativity could accelerate the global growth aspirations of Starbucks' more nascent retail formats over the next decade and make it more difficult for rivals to compete.",
    "output": "[Cause] The company's strong landlord relationships and square footage creativity [Relation] enable [Effect] make it more difficult for rivals to compete",
    "gold": "[Cause] The company's strong landlord relationships and square footage creativity [Relation] enable [Effect] make it more difficult for rivals to compete",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This historical data is increasing in importance as businesses are more inclined now than ever to leverage business intelligence insights, which use such historical data.",
    "output": "[Cause] businesses are more inclined now than ever to leverage business intelligence insights, which use such historical data [Relation] cause [Effect] This historical data is increasing in importance",
    "gold": "[Cause] businesses are more inclined now than ever to leverage business intelligence insights, which use such historical data [Relation] cause [Effect] This historical data is increasing in importance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Insurers' pricing and practices are closely controlled by state regulators, and the company could face material consequences if its behavior is judged to be inappropriate.",
    "output": "[Cause] its behavior is judged to be inappropriate [Relation] cause [Effect] the company could face material consequences",
    "gold": "[Cause] its behavior is judged to be inappropriate [Relation] cause [Effect]  the company could face material consequences",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In order for a network to convince merchants that they should accept its payments, the network needs to have enough users to incentivize acceptance.",
    "output": "[Cause] the network needs to have enough users to incentivize acceptance [Relation] enable [Effect] convince merchants that they should accept its payments",
    "gold": "[Cause] network to convince merchants that they should accept its payments [Relation] cause [Effect] network needs to have enough users to incentivize acceptance",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, Edwards could see more competition in its surgical tools business if minimally invasive surgical systems makers, such as Intuitive Surgical, enter the cardiac surgery market.",
    "output": "[Cause] minimally invasive surgical systems makers, such as Intuitive Surgical, enter the cardiac surgery market [Relation] enable [Effect] Edwards could see more competition in its surgical tools business",
    "gold": "[Cause] minimally invasive surgical systems makers, such as Intuitive Surgical, enter the cardiac surgery market [Relation] cause [Effect] Edwards could see more competition in its surgical tools business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect noninterest income to grow at a mid-single-digit compound annual growth rate of 3%-4%. This leads to an average return on tangible equity of 16% for our forecast period compared with our cost of equity at 9%.",
    "output": "[Cause] noninterest income to grow at a mid-single-digit compound annual growth rate of 3%-4% [Relation] cause [Effect] an average return on tangible equity of 16% for our forecast period compared with our cost of equity at 9%",
    "gold": "[Cause]  noninterest income to grow at a mid-single-digit compound annual growth rate of 3%-4% [Relation] cause [Effect]  an average return on tangible equity of 16% for our forecast period compared with our cost of equity at 9%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project operating margins will improve from the 11% reported in 2020 to nearly 15% in our midcycle year, as we believe Caterpillar will benefit from better sales mix (sales of high-feature equipment) and higher-margin aftermarket sales.",
    "output": "[Cause] we believe Caterpillar will benefit from better sales mix (sales of high-feature equipment) and higher-margin aftermarket sales [Relation] cause [Effect] operating margins will improve from the 11% reported in 2020 to nearly 15% in our midcycle year",
    "gold": "[Cause] benefit from better sales mix (sales of high-feature equipment) and higher-margin aftermarket sales. [Relation] cause [Effect]  operating margins will improve from the 11% reported in 2020 to nearly 15%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Skyworks' ability to integrate a variety of RF parts into a single package, like its SkyOne suite of products, has been difficult for many others to replicate, and Skyworks has reaped the rewards with healthy profitability and earnings growth.",
    "output": "[Cause] Skyworks' ability to integrate a variety of RF parts into a single package [Relation] cause [Effect] Skyworks has reaped the rewards with healthy profitability and earnings growth",
    "gold": "[Cause] Skyworks' ability to integrate a variety of RF parts into a single package [Relation] cause [Effect] Skyworks has reaped the rewards with healthy profitability and earnings growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although new brands and luxury retailers on the platform increase competition, they also increase credibility of the platform as a luxury distribution channel, in our view, benefiting the incumbents.",
    "output": "[Cause] new brands and luxury retailers on the platform increase competition [Relation] cause [Effect] increase credibility of the platform as a luxury distribution channel",
    "gold": "[Cause] a luxury distribution channel, in our view, benefiting the incumbents [Relation] cause [Effect] they also increase credibility of the platform",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "So long as Hexcel satisfies its performance obligations, manufacturers have no reason to go through the arduous process of certifying an additional supplier and ensuring that the updated product remains safe.",
    "output": "[Cause] Hexcel satisfies its performance obligations [Relation] cause [Effect] manufacturers have no reason to go through the arduous process of certifying an additional supplier and ensuring that the updated product remains safe",
    "gold": "[Cause] Hexcel satisfies its performance obligations [Relation] cause [Effect] manufacturers have no reason to go through the arduous process of certifying an additional supplier and ensuring that the updated product remains safe",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Based on third-quarter trends, our model assumes a 7% decrease in systemwide sales growth during 2020, as the contribution from 395 net new restaurant openings worldwide is offset by a 10% decline in global comps, driven by the pandemic.",
    "output": "[Cause] the contribution from 395 net new restaurant openings worldwide is offset by a 10% decline in global comps [Relation] cause [Effect] our model assumes a 7% decrease in systemwide sales growth during 2020",
    "gold": "[Cause] the contribution from 395 net new restaurant openings worldwide is offset by a 10% decline in global comps [Relation] cause [Effect] our model assumes a 7% decrease in systemwide sales growth during 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Based on third-quarter trends, our model assumes a 7% decrease in systemwide sales growth during 2020, as the contribution from 395 net new restaurant openings worldwide is offset by a 10% decline in global comps, driven by the pandemic.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] the contribution from 395 net new restaurant openings worldwide is offset by a 10% decline in global comps",
    "gold": "[Cause] third-quarter trends [Relation] enable [Effect] our model assumes a 7% decrease in systemwide sales growth during 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While Post is the number-one provider of eggs and potatoes to the food-service industry, the commoditized nature of these products makes it very difficult to differentiate its offerings.",
    "output": "[Cause] the commoditized nature of these products [Relation] cause [Effect] it very difficult to differentiate its offerings",
    "gold": "[Cause] the commoditized nature of these products [Relation] cause [Effect] it very difficult to differentiate its offerings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're raising our fair value estimate for Chipotle to $1,200 from $1,100 following first-quarter earnings, due to time value as well as ongoing near-term sales momentum.",
    "output": "[Cause] time value as well as ongoing near-term sales momentum [Relation] cause [Effect] We're raising our fair value estimate for Chipotle to $1,200 from $1,100 following first-quarter earnings",
    "gold": "[Cause]  time value as well as ongoing near-term sales momentum [Relation] cause [Effect] We're raising our fair value estimate for Chipotle to $1,200 from $1,100 following first-quarter earnings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, we believe that franchisee buildout costs for Domino's stores remain lower than peers, but the gap is shrinking as Pizza Hut and Papa John's pivot to more delivery friendly \"\"\"\"delco\"\"\"\" store models.",
    "output": "[Cause] Pizza Hut and Papa John's pivot to more delivery friendly \"\"\"\"delco\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"",
    "gold": "[Cause] Pizza Hut and Papa John's pivot to more delivery friendly \"\"\"\"delco\"\"\"\" store models [Relation] cause [Effect] the gap is shrinking",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Remaining in favor with the dealer base is imperative, and we think Malibu could not have captured brand equity over time without the relationships of its 200 dealers.",
    "output": "[Cause] the relationships of its 200 dealers [Relation] prevent [Effect] Malibu could not have captured brand equity over time",
    "gold": "[Cause] the relationships of its 200 dealers [Relation] prevent [Effect] Malibu could not have captured brand equity over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, we believe that high retention and enterprise penetration will continue to drive growth in market share and cement NICE's position as a leader in the CCaaS space.",
    "output": "[Cause] high retention and enterprise penetration [Relation] enable [Effect] growth in market share and cement NICE's position as a leader in the CCaaS space",
    "gold": "[Cause]  high retention and enterprise penetration [Relation] enable [Effect]  growth in market share and cement NICE's position as a leader in the CCaaS space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The COVID-19 pandemic reduced customer traffic at Ferguson's blended branches as contractor work slowed due to a reluctance to have contractors enter homes, but this trend has reversed as the virus abates.",
    "output": "[Cause] a reluctance to have contractors enter homes [Relation] cause [Effect] contractor work slowed",
    "gold": "[Cause] a reluctance to have contractors enter homes [Relation] cause [Effect] contractor work slowed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The COVID-19 pandemic reduced customer traffic at Ferguson's blended branches as contractor work slowed due to a reluctance to have contractors enter homes, but this trend has reversed as the virus abates.",
    "output": "[Cause] a reluctance to have contractors enter homes [Relation] cause [Effect] contractor work slowed",
    "gold": "[Cause] contractor work slowed [Relation] cause [Effect] The COVID-19 pandemic reduced customer traffic at Ferguson's blended branches",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The COVID-19 pandemic reduced customer traffic at Ferguson's blended branches as contractor work slowed due to a reluctance to have contractors enter homes, but this trend has reversed as the virus abates.",
    "output": "[Cause] a reluctance to have contractors enter homes [Relation] cause [Effect] contractor work slowed",
    "gold": "[Cause] the virus abates [Relation] cause [Effect] this trend has reversed",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the need for further R&D reinvestment and ongoing capital expenditures, ST's profitability, while improving, may lag the returns earned by several of its U.S.-based rivals like Texas Instruments.",
    "output": "[Cause] the need for further R&D reinvestment and ongoing capital expenditures [Relation] cause [Effect] ST's profitability, while improving, may lag the returns earned by several of its U.S.-based rivals like Texas Instruments",
    "gold": "[Cause] the need for further R&D reinvestment and ongoing capital expenditures [Relation] cause [Effect] ST's profitability, while improving, may lag the returns earned by several of its U.S.-based rivals like Texas Instruments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Veoneer also has modest corporate governance risk exposure on the lack of a shareholder rights plan or \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"poison pill,\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" shareholders cannot call for a special meeting, directors are not annually up for election, and the board can change its size without shareholder approval.",
    "output": "[Cause] the lack of a shareholder rights plan or \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"",
    "gold": "[Cause] the lack of a shareholder rights plan or \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"poison pill [Relation] cause [Effect] Veoneer also has modest corporate governance risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Through acquisitions and eventual organic feature and product development, Adobe has established itself as a leader in various categories that fall under the digital experience umbrella, including digital marketing analytics, campaign management, and customer engagement, among others.",
    "output": "[Cause] acquisitions and eventual organic feature and product development [Relation] enable [Effect] Adobe has established itself as a leader in various categories that fall under the digital experience umbrella, including digital marketing analytics, campaign management, and customer engagement, among others",
    "gold": "[Cause] acquisitions and eventual organic feature and product development [Relation] enable [Effect] Adobe has established itself as a leader in various categories that fall under the digital experience umbrella, including digital marketing analytics, campaign management, and customer engagement, among others",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, we do expect a market will remain for Marvell's products as certain hyperscale customers such as Google and Amazon have become accustomed to using specific controllers and other products for internally optimized storage solutions rather than sourcing a complete solution from Western or Seagate.",
    "output": "[Cause] certain hyperscale customers such as Google and Amazon have become accustomed to using specific controllers and other products for internally optimized storage solutions rather than sourcing a complete solution from Western or Seagate [Relation] cause [Effect] a market will remain for Marvell's products",
    "gold": "[Cause] certain hyperscale customers such as Google and Amazon have become accustomed to using specific controllers and other products for internally optimized storage solutions rather than sourcing a complete solution from Western or Seagate [Relation] enable [Effect] a market will remain for Marvell's products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, projects like LNG, with long-plateau production levels that require little additional capital expenditure, help reduce decline rates while generating significant free cash flow to support reinvestment elsewhere or shareholder returns.",
    "output": "[Cause] projects like LNG, with long-plateau production levels that require little additional capital expenditure [Relation] enable [Effect] reduce decline rates while generating significant free cash flow to support reinvestment elsewhere or shareholder returns",
    "gold": "[Cause] projects like LNG, with long-plateau production levels that require little additional capital expenditure [Relation] enable [Effect] reduce decline rates while generating significant free cash flow to support reinvestment elsewhere or shareholder returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, the bank does have some more attractive sources of noninterest income, and the bank's financial technology history gives us confidence that sources of fee income should only improve over time.",
    "output": "[Cause] the bank's financial technology history [Relation] enable [Effect] gives us confidence that sources of fee income should only improve over time",
    "gold": "[Cause] the bank's financial technology history [Relation] enable [Effect]  gives us confidence that sources of fee income should only improve over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "International demand for meat has been strong, and although Tyson's international sales mix is just 14%, it is likely to increase over time, as this is an area of acquisition focus.",
    "output": "[Cause] this is an area of acquisition focus [Relation] cause [Effect] it is likely to increase over time",
    "gold": "[Cause] this is an area of acquisition focus [Relation] cause [Effect]  it is likely to increase over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Based on the lower-than-average volatility of cash flows and Coloplast's diverse portfolio of non-discretionary products, we rate the firm's uncertainty as medium.",
    "output": "[Cause] the lower-than-average volatility of cash flows and Coloplast's diverse portfolio of non-discretionary products [Relation] cause [Effect] we rate the firm's uncertainty as medium",
    "gold": "[Cause] Based on the lower-than-average volatility of cash flows [Relation] enable [Effect]  we rate the firm's uncertainty as medium",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Turning to technology, we believe that Domino's relentless pursuit of core process automation and data-driven decision making strengthen its brand, with the firm's competitive advantage built around a database that features 20 years of customer data.",
    "output": "[Cause] Domino's relentless pursuit of core process automation and data-driven decision making strengthen its brand [Relation] enable [Effect] the firm's competitive advantage built around a database that features 20 years of customer data",
    "gold": "[Cause]  Domino's relentless pursuit of core process automation and data-driven decision [Relation] cause [Effect] strengthen its brand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Buoyed by trends such as urbanization, the institutionalization of real estate, and the growing tendency of corporate outsourcing, JLL should post healthy growth rates as it continues to take share from its smaller and weaker rivals.",
    "output": "[Cause] it continues to take share from its smaller and weaker rivals [Relation] cause [Effect] JLL should post healthy growth rates",
    "gold": "[Cause] it continues to take share from its smaller and weaker rivals [Relation] cause [Effect] JLL should post healthy growth rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The industry should also see a benefit from a pivot toward renewable energy sources, as copper figures to feature directly (in wind turbine manufacture) and indirectly (connecting renewable energy to the grid), which could provide a boost to near-term prices as capacity investments contracted significantly in 2020.",
    "output": "[Cause] a pivot toward renewable energy sources [Relation] cause [Effect] The industry should also see a benefit",
    "gold": "[Cause] copper figures to feature directly (in wind turbine manufacture) and indirectly (connecting renewable energy to the grid) [Relation] cause [Effect] The industry should also see a benefit from a pivot toward renewable energy sources",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The industry should also see a benefit from a pivot toward renewable energy sources, as copper figures to feature directly (in wind turbine manufacture) and indirectly (connecting renewable energy to the grid), which could provide a boost to near-term prices as capacity investments contracted significantly in 2020.",
    "output": "[Cause] capacity investments contracted significantly in 2020 [Relation] cause [Effect] provide a boost to near-term prices",
    "gold": "[Cause] a pivot toward renewable energy sources [Relation] enable [Effect] a boost to near-term prices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Second, the company's higher-margin aftermarket business provides farmers priority on proprietary parts and services through its extensive dealer network, limiting service intervals and machine down-time.",
    "output": "[Cause] the company's higher-margin aftermarket business provides farmers priority on proprietary parts and services through its extensive dealer network [Relation] cause [Effect] limiting service intervals and machine down-time",
    "gold": "[Cause] the company's higher-margin aftermarket business provides farmers priority on proprietary parts and services [Relation] prevent [Effect] its extensive dealer network, limiting service intervals and machine down-tim",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This business model allows Redfin to streamline the real estate transaction and spread certain costs across the entire organization, allowing it to plausibly charge between a 1% and 1.5% sellers commission compared with the industry standard of around 2.5%-3%.",
    "output": "[Cause] This business model [Relation] enable [Effect] Redfin to streamline the real estate transaction and spread certain costs across the entire organization",
    "gold": "[Cause] This business model [Relation] cause [Effect] Redfin to streamline the real estate transaction and spread certain costs across the entire organization",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, lower-income motorists at the core of the (more lucrative) DIY segment have fewer work-from-home opportunities, which we believe contributed to the segment's recent surge.",
    "output": "[Cause] lower-income motorists at the core of the (more lucrative) DIY segment have fewer work-from-home opportunities [Relation] cause [Effect] the segment's recent surge",
    "gold": "[Cause] lower-income motorists at the core of the (more lucrative) DIY segment have fewer work-from-home opportunities [Relation] cause [Effect] the segment's recent surge",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm has also been seeing increased design activity for its e.Motion product, which combines magnetic sensing chips for angle measurement and magnetic field sensing to enable more efficient motor design.",
    "output": "[Cause] magnetic sensing chips for angle measurement and magnetic field sensing to enable more efficient motor design [Relation] cause [Effect] The firm has also been seeing increased design activity for its e.Motion product",
    "gold": "[Cause] magnetic sensing chips for angle measurement and magnetic field sensing [Relation] enable [Effect]  more efficient motor design",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A major risk area for Dropbox is a circumstance in which Dropbox's platform is down for an extended period of time. This scenario would prevent users, particularly enterprises, from functioning and collaborating as normal and possibly limit access to mission critical files.",
    "output": "[Cause] A major risk area for Dropbox is a circumstance in which Dropbox's platform is down for an extended period of time [Relation] prevent [Effect] users, particularly enterprises, from functioning and collaborating as normal and possibly limit access to mission critical files",
    "gold": "[Cause] A major risk area for Dropbox is a circumstance in which Dropbox's platform is down for an extended period of time [Relation] prevent [Effect]  users, particularly enterprises, from functioning and collaborating as normal and possibly limit access to mission critical files",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This difference in focus, in our view, accounts for the decline in segment profitability from 2012 to 2014, even while peer Schlumberger saw improvement owing to uptake of new technologies.",
    "output": "[Cause] uptake of new technologies [Relation] cause [Effect] peer Schlumberger saw improvement",
    "gold": "[Cause]  difference in focus [Relation] prevent [Effect] segment profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We've increased our fair value estimate for Franklin Resources to $27 per share from $22 to account for the continued recovery in the equity, credit and currency markets following the steep COVID-19 induced sell-off in the March quarter of 2020.",
    "output": "[Cause] the continued recovery in the equity, credit and currency markets following the steep COVID-19 induced sell-off in the March quarter of 2020 [Relation] cause [Effect] We've increased our fair value estimate for Franklin Resources to $27 per share from $22",
    "gold": "[Cause] increased our fair value estimate for Franklin Resources to $27 per share from $22 [Relation] enable [Effect] ccount for the continued recovery in the equity, credit and currency markets following the steep COVID-19 induced sell-off in the March quarter of 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Even in a more competitive environment (our bear case), we'd expect the firm could generate around 20% ROICs, owing to the strength of its operating strategy.",
    "output": "[Cause] the strength of its operating strategy [Relation] cause [Effect] Even in a more competitive environment (our bear case) we'd expect the firm could generate around 20% ROICs",
    "gold": "[Cause] the strength of its operating strategy [Relation] cause [Effect] Even in a more competitive environment (our bear case), we'd expect the firm could generate around 20% ROICs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Farfetch's third-party take rate is above that of established marketplaces, partly due to lack of competition in the luxury retailer segment, in our view.",
    "output": "[Cause] lack of competition in the luxury retailer segment [Relation] cause [Effect] Farfetch's third-party take rate is above that of established marketplaces",
    "gold": "[Cause]  lack of competition in the luxury retailer segment [Relation] cause [Effect] Farfetch's third-party take rate is above that of established marketplaces",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Rent-by-choice continues to gain popularity in the housing market, which is a positive sign for self-storage, given that renters tend to move more frequently and thus make use of self-storage facilities in moments of transition.",
    "output": "[Cause] renters tend to move more frequently [Relation] cause [Effect] make use of self-storage facilities in moments of transition",
    "gold": "[Cause] renters tend to move more frequently [Relation] enable [Effect] make use of self-storage facilities in moments of transition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Notably, while the long-term prospects of the semiconductor materials business appear strong, the increasing exposure to this cyclical end market could add some volatility to Merck's financial results.",
    "output": "[Cause] the increasing exposure to this cyclical end market [Relation] enable [Effect] add some volatility to Merck's financial results",
    "gold": "[Cause] the increasing exposure to this cyclical end market [Relation] enable [Effect] add some volatility to Merck's financial results",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Coupa benefits from robust network effects and switching costs, as evidenced by strong machine learning capabilities, growing spend under management, and solid user metrics.",
    "output": "[Cause] strong machine learning capabilities, growing spend under management, and solid user metrics [Relation] enable [Effect] Coupa benefits from robust network effects and switching costs",
    "gold": "[Cause] strong machine learning capabilities, growing spend under management, and solid user metrics [Relation] cause [Effect] Coupa benefits from robust network effects and switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's relatively simple network architecture and spectrum holdings enabled it to upgrade to LTE technology efficiently and effectively while its innovative service offerings and marketing have won customers from other carriers.",
    "output": "[Cause] its innovative service offerings and marketing [Relation] enable [Effect] won customers from other carriers",
    "gold": "[Cause]  its innovative service offerings and marketing [Relation] enable [Effect] won customers from other carriers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The Brazilian government stepped away from a plan to increase excise taxes ahead of the FIFA World Cup in 2014, but we think it is likely that the government could leverage the fairly low price elasticity of beer to raise taxes in the future.",
    "output": "[Cause] the government could leverage the fairly low price elasticity of beer [Relation] enable [Effect] raise taxes in the future",
    "gold": "[Cause]  stepped away from a plan to increase excise taxes [Relation] enable [Effect] could leverage the fairly low price elasticity of beer to raise taxes in the future",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Small modifications before or after distillation can result in a variety of distinct tastes, which makes differentiation less difficult than in other industries.",
    "output": "[Cause] Small modifications before or after distillation [Relation] cause [Effect] a variety of distinct tastes",
    "gold": "[Cause] Small modifications before or after distillation [Relation] cause [Effect] a variety of distinct tastes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Second, once Paylocity's platform is integrated, switching over to a new platform could give rise to business disruption and operational risk, potentially leading to inefficiencies in payroll processing and HCM solutions and leading to hindrances in day-to-day operations.",
    "output": "[Cause] Paylocity's platform is integrated [Relation] cause [Effect] switching over to a new platform could give rise to business disruption and operational risk",
    "gold": "[Cause] switching over to a new platform [Relation] cause [Effect] business disruption and operational risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Second, once Paylocity's platform is integrated, switching over to a new platform could give rise to business disruption and operational risk, potentially leading to inefficiencies in payroll processing and HCM solutions and leading to hindrances in day-to-day operations.",
    "output": "[Cause] business disruption and operational risk [Relation] cause [Effect] inefficiencies in payroll processing and HCM solutions and leading to hindrances in day-to-day operations",
    "gold": "[Cause] business disruption and operational risk [Relation] cause [Effect] inefficiencies in payroll processing and HCM solutions and leading to hindrances in day-to-day operations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think CoreSite's smaller footprint gives it greater opportunity for operating leverage, and, after a dip in the near term due to higher real estate rents and taxes, we project adjusted EBITDA margin to rise about 600 basis points between 2018 and 2029, to about 60%.",
    "output": "[Cause] CoreSite's smaller footprint gives it greater opportunity for operating leverage [Relation] cause [Effect] after a dip in the near term due to higher real estate rents and taxes, we project adjusted EBITDA margin to rise about 600 basis points between 2018 and 2029, to about 60%",
    "gold": "[Cause] a dip in the near term due to higher real estate rents and taxes [Relation] cause [Effect]  we project adjusted EBITDA margin to rise about 600 basis points between 2018 and 2029, to about 60%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, KBR's portfolio has shifted in recent years toward gas-facing sectors, such as petrochemicals, LNG, and fertilizers, which has reduced its direct exposure to oil price volatility.",
    "output": "[Cause] KBR's portfolio has shifted in recent years toward gas-facing sectors [Relation] cause [Effect] reduced its direct exposure to oil price volatility",
    "gold": "[Cause] KBR's portfolio has shifted in recent years toward gas-facing sectors [Relation] cause [Effect] reduced its direct exposure to oil price volatility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Monolithic's highly integrated chips allow its customers to create unique, streamlined designs that couldn't be achieved with lagging-edge analog technology.",
    "output": "[Cause] Monolithic's highly integrated chips [Relation] enable [Effect] its customers to create unique, streamlined designs",
    "gold": "[Cause] Monolithic's highly integrated chips [Relation] enable [Effect] its customers to create unique, streamlined designs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result of the shrunken schedule, we project that 2020 revenue will fall by $800 million or 40% year over year to $1.2 billion due to lost race promotion fees, lower sponsorship, and decreased broadcasting revenue.",
    "output": "[Cause] the shrunken schedule [Relation] cause [Effect] 2020 revenue will fall by $800 million or 40% year over year to $1.2 billion",
    "gold": "[Cause] the shrunken schedule [Relation] cause [Effect] 2020 revenue will fall by $800 million or 40% year over year to $1.2 billion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result of the shrunken schedule, we project that 2020 revenue will fall by $800 million or 40% year over year to $1.2 billion due to lost race promotion fees, lower sponsorship, and decreased broadcasting revenue.",
    "output": "[Cause] lost race promotion fees, lower sponsorship, and decreased broadcasting revenue [Relation] cause [Effect] 2020 revenue will fall by $800 million or 40% year over year to $1.2 billion",
    "gold": "[Cause] lost race promotion fees, lower sponsorship, and decreased broadcasting revenue [Relation] cause [Effect] 2020 revenue will fall by $800 million or 40% year over year to $1.2 billion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As online rivals need to absorb shipping costs and have ample opportunity to more economically target conventional apparel retailers, we expect Burlington's competitive advantages to endure.",
    "output": "[Cause] online rivals need to absorb shipping costs and have ample opportunity to more economically target conventional apparel retailers [Relation] cause [Effect] Burlington's competitive advantages to endure",
    "gold": "[Cause] online rivals need to absorb shipping costs and have ample opportunity to more economically target conventional apparel retailers [Relation] cause [Effect] Burlington's competitive advantages to endure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With limited growth, intense competition, and rising use of costlier fulfillment methods, we foresee the benefits of Target's increasing e-commerce size and efficiency gains translating to little profitability improvement, with our forecast assuming its adjusted operating margin remains near fiscal 2020's 7% mark.",
    "output": "[Cause] limited growth, intense competition, and rising use of costlier fulfillment methods [Relation] cause [Effect] the benefits of Target's increasing e-commerce size and efficiency gains translating to little profitability improvement",
    "gold": "[Cause] limited growth, intense competition, and rising use of costlier fulfillment methods [Relation] enable [Effect] the benefits of Target's increasing e-commerce size and efficiency gains translating to little profitability improvement",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We share management's view that 3G's master franchise joint venture structure offers a competitive advantage by which to accelerate Tim Hortons' and Popeyes' unit growth, which we expect to become more pronounced in the years to come (after shedding underperforming locations in 2020).",
    "output": "[Cause] 3G's master franchise joint venture structure offers a competitive advantage [Relation] enable [Effect] accelerate Tim Hortons' and Popeyes' unit growth",
    "gold": "[Cause] 3G's master franchise joint venture structure [Relation] enable [Effect]  offers a competitive advantage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In iron ore, Anglo is a higher-cost producer, lagging leaders Rio Tinto, BHP Billiton, and Vale, which dominate more than the lowest half of the industry cost curve.",
    "output": "[Cause] Anglo is a higher-cost producer [Relation] cause [Effect] dominate more than the lowest half of the industry cost curve",
    "gold": "[Cause] Anglo is a higher-cost producer [Relation] enable [Effect] dominate more than the lowest half of the industry cost curve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, KKR, its owner in the interim, had doubled the earnings of the business in that time, and AB InBev still created value from the deal by extracting duplicate costs and sharing a distribution platform to drive penetration of the Budweiser and Corona brands.",
    "output": "[Cause] extracting duplicate costs and sharing a distribution platform to drive penetration of the Budweiser and Corona brands [Relation] enable [Effect] AB InBev still created value from the deal",
    "gold": "[Cause] AB InBev still created value from the deal by extracting duplicate costs and sharing a distribution platform [Relation] enable [Effect] penetration of the Budweiser and Corona brands",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, IAC has invested in areas within Angi that have resulted in basically a feedback loop--attracting more service professionals who have helped bring in more consumers who in turn have attracted more service professionals, and so on, thereby strengthening Angi's network effect.",
    "output": "[Cause] IAC has invested in areas within Angi [Relation] cause [Effect] a feedback loop",
    "gold": "[Cause] IAC has invested in areas within Angi that have resulted in basically a feedback loop [Relation] enable [Effect] attracting more service professionals",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, IAC has invested in areas within Angi that have resulted in basically a feedback loop--attracting more service professionals who have helped bring in more consumers who in turn have attracted more service professionals, and so on, thereby strengthening Angi's network effect.",
    "output": "[Cause] IAC has invested in areas within Angi [Relation] cause [Effect] attracting more service professionals who have helped bring in more consumers who in turn have attracted more service professionals, and so on, thereby strengthening Angi's network effect",
    "gold": "[Cause] attracting more service professionals [Relation] enable [Effect] bring in more consumers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, IAC has invested in areas within Angi that have resulted in basically a feedback loop--attracting more service professionals who have helped bring in more consumers who in turn have attracted more service professionals, and so on, thereby strengthening Angi's network effect.",
    "output": "[Cause] IAC has invested in areas within Angi [Relation] cause [Effect] attracting more service professionals",
    "gold": "[Cause] bring in more consumers [Relation] enable [Effect] attracted more service professionals",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, IAC has invested in areas within Angi that have resulted in basically a feedback loop--attracting more service professionals who have helped bring in more consumers who in turn have attracted more service professionals, and so on, thereby strengthening Angi's network effect.",
    "output": "[Cause] IAC has invested in areas within Angi [Relation] cause [Effect] attracting more service professionals",
    "gold": "[Cause] IAC has invested in areas within Angi that have resulted in basically a feedback loop [Relation] enable [Effect] strengthening Angi's network effect",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nice augmented its analytics capabilities in 2016 by acquiring Nexidia, which gives Nice the ability to process and analyze large amounts of omnichannel interactions and provides agents with actionable insights as well as performance feedback.",
    "output": "[Cause] Nice augmented its analytics capabilities in 2016 by acquiring Nexidia [Relation] enable [Effect] Nice the ability to process and analyze large amounts of omnichannel interactions and provides agents with actionable insights as well as performance feedback",
    "gold": "[Cause] Nice augmented its analytics capabilities in 2016 by acquiring Nexidia [Relation] enable [Effect] gives Nice the ability to process and analyze large amounts of omnichannel interactions and provides agents",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect this gross margin improvement to be somewhen offset by higher levels of marketing investment (increasing from 4.5% of sales in 2020 to 6.5% over the next decade), resulting in operating margins of 19.4% by 2030, up from 17.4% in 2020.",
    "output": "[Cause] this gross margin improvement to be somewhen offset by higher levels of marketing investment [Relation] cause [Effect] operating margins of 19.4% by 2030, up from 17.4% in 2020",
    "gold": "[Cause] higher levels of marketing investment [Relation] prevent [Effect] gross margin improvement",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "When California legalized recreational cannabis with a relatively high tax, the legal market shrank as consumers moved back into the black market.",
    "output": "[Cause] consumers moved back into the black market [Relation] cause [Effect] the legal market shrank",
    "gold": "[Cause] California legalized recreational cannabis with a relatively high tax [Relation] enable [Effect] consumers moved back into the black market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "BorgWarner benefits from a substantial global manufacturing presence, highly integrated and long-term customer ties, and a moderate level of pricing power from the regular commercialization of new technologies.",
    "output": "[Cause] the regular commercialization of new technologies [Relation] enable [Effect] a moderate level of pricing power",
    "gold": "[Cause] a substantial global manufacturing presence, highly integrated and long-term customer ties, and a moderate level of pricing power from the regular commercialization of new technologies [Relation] enable [Effect] BorgWarner benefits",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A jump in midstream earnings following the completion of Adelphia Gateway along with contributions from solar investments should provide incremental earnings growth.",
    "output": "[Cause] contributions from solar investments [Relation] enable [Effect] incremental earnings growth",
    "gold": "[Cause] contributions from solar investments [Relation] enable [Effect] incremental earnings growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Phillips 66's two California refineries and one East Coast refinery have been challenged compared with the rest of its portfolio. As a result, it will convert its San Francisco area refinery to produce 800 million gallons of renewable fuels, to be completed during the first quarter of 2024.",
    "output": "[Cause] Phillips 66's two California refineries and one East Coast refinery have been challenged compared with the rest of its portfolio [Relation] cause [Effect] it will convert its San Francisco area refinery to produce 800 million gallons of renewable fuels, to be completed during the first quarter of 2024",
    "gold": "[Cause] Phillips 66's two California refineries and one East Coast refinery have been challenged compared with the rest of its portfolio [Relation] cause [Effect]  it will convert its San Francisco area refinery to produce 800 million gallons of renewable fuels, to be completed during the first quarter of 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, we expect Airbnb to lower marketing expense to 20% of revenue in 2030 from 34% in 2019 (2019 was a heavier investment year, with 2018 marketing costs at 30% of sales), as the company benefits from strong global awareness and a more complete platform offering long term.",
    "output": "[Cause] the company benefits from strong global awareness and a more complete platform offering long term [Relation] cause [Effect] Airbnb to lower marketing expense to 20% of revenue in 2030 from 34% in 2019 (2019 was a heavier investment year, with 2018 marketing costs at 30% of sales)",
    "gold": "[Cause] the company benefits from strong global awareness and a more complete platform offering long term [Relation] cause [Effect] we expect Airbnb to lower marketing expense to 20% of revenue in 2030 from 34% in 2019",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect earnings to increase significantly over our explicit forecast period as demand from key end markets improves, shipment volumes increase, and margins expand.",
    "output": "[Cause] demand from key end markets improves, shipment volumes increase, and margins expand [Relation] cause [Effect] earnings to increase significantly over our explicit forecast period",
    "gold": "[Cause] demand from key end markets improves, shipment volumes increase, and margins expand [Relation] cause [Effect] earnings to increase significantly over our explicit forecast period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we don't think it enjoys any special advantages in terms of acquiring land for new developments today, given the maturity of the self-storage space.",
    "output": "[Cause] the maturity of the self-storage space [Relation] cause [Effect] we don't think it enjoys any special advantages in terms of acquiring land for new developments today",
    "gold": "[Cause]  the maturity of the self-storage space [Relation] cause [Effect] we don't think it enjoys any special advantages in terms of acquiring land for new developments today",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our uncertainty rating remains medium, which reflects the widening range of valuation outcomes resulting from the impact of the coronavirus on short-term demand.",
    "output": "[Cause] the impact of the coronavirus on short-term demand [Relation] cause [Effect] the widening range of valuation outcomes",
    "gold": "[Cause] the impact of the coronavirus on short-term demand [Relation] cause [Effect] the widening range of valuation outcomes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, we believe Pfizer's operations can withstand the eventual generic competition, and the firm's diverse portfolio of drugs help insulate Pfizer from any one particular patent loss.",
    "output": "[Cause] the firm's diverse portfolio of drugs [Relation] enable [Effect] insulate Pfizer from any one particular patent loss",
    "gold": "[Cause] the firm's diverse portfolio of drugs [Relation] enable [Effect] insulate Pfizer from any one particular patent loss",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Gross margin for the recorded music segment will benefit from the increased importance of streaming revenue, which has a much better margin profile than physical media. This improvement should help product costs drop from 21.5% of segment revenue in fiscal 2019 to 19.6% in fiscal 2025, just below 20.2% in fiscal 2020.",
    "output": "[Cause] Gross margin for the recorded music segment will benefit from the increased importance of streaming revenue, which has a much better margin profile than physical media [Relation] enable [Effect] help product costs drop from 21.5% of segment revenue in fiscal 2019 to 19.6% in fiscal 2025, just below 20.2% in fiscal 2020",
    "gold": "[Cause] Gross margin for the recorded music segment will benefit from the increased importance of streaming revenue, which has a much better margin profile than physical media [Relation] enable [Effect] help product costs drop from 21.5% of segment revenue in fiscal 2019 to 19.6% in fiscal 2025, just below 20.2% in fiscal 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "His knowledge of those hotels combined with management's demonstrated ability to maximize margins should allow him to implement cost-saving initiatives that drive up margins.",
    "output": "[Cause] His knowledge of those hotels combined with management's demonstrated ability to maximize margins [Relation] enable [Effect] him to implement cost-saving initiatives that drive up margins",
    "gold": "[Cause] His knowledge of those hotels combined with management's demonstrated ability to maximize margins [Relation] enable [Effect] him to implement cost-saving initiatives that drive up margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The fixed-line business, led by fixed broadband and industrial Internet has been driving China Unicom's growth in recent years while heavy competition in mobiles has slashed prices.",
    "output": "[Cause] heavy competition in mobiles [Relation] cause [Effect] slashed prices",
    "gold": "[Cause]  heavy competition in mobiles [Relation] cause [Effect] slashed prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These network effects serve to both create barriers to success for new social network upstarts (as demonstrated by the firm's success against Snap), as well as barriers to exit for existing users who might leave behind friends, contacts, pictures, memories, and more by departing to alternative platforms.",
    "output": "[Cause] These network effects [Relation] cause [Effect] create barriers to success for new social network upstarts",
    "gold": "[Cause] These network effects [Relation] prevent [Effect] success for new social network upstarts (as demonstrated by the firm's success against Snap)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These network effects serve to both create barriers to success for new social network upstarts (as demonstrated by the firm's success against Snap), as well as barriers to exit for existing users who might leave behind friends, contacts, pictures, memories, and more by departing to alternative platforms.",
    "output": "[Cause] exiting to alternative platforms [Relation] cause [Effect] leave behind friends, contacts, pictures, memories, and more",
    "gold": "[Cause] These network effects [Relation] prevent [Effect] exit for existing users who might leave behind friends, contacts, pictures, memories",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The capital intensity of manufacturing the latest memory chips continues to rise, with Micron's annual capital expenditure budget approaching $10 billion.",
    "output": "[Cause] The capital intensity of manufacturing the latest memory chips continues to rise [Relation] cause [Effect] Micron's annual capital expenditure budget approaching $10 billion",
    "gold": "[Cause] The capital intensity of manufacturing the latest memory chips continues to rise [Relation] enable [Effect] Micron's annual capital expenditure budget approaching $10 billion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do believe the firm's fee revenue tends to be relatively stable, but it is impacted by market levels, foreign exchange volumes, and securities lending volumes.",
    "output": "[Cause] market levels, foreign exchange volumes, and securities lending volumes [Relation] cause [Effect] the firm's fee revenue tends to be relatively stable",
    "gold": "[Cause] market levels, foreign exchange volumes, and securities lending volumes [Relation] prevent [Effect] the firm's fee revenue tends to be relatively stable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we expect the Oppenheimer deal to keep margins from deteriorating too much in the face of fee compression and rising costs (necessary to improve investment performance and enhance product distribution), near-term organic growth will be trickier as the firm navigates merger-related outflows.",
    "output": "[Cause] the firm navigates merger-related outflows [Relation] cause [Effect] near-term organic growth will be trickier",
    "gold": "[Cause]  improve investment performance and enhance product distribution [Relation] cause [Effect]  fee compression and rising costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we expect the Oppenheimer deal to keep margins from deteriorating too much in the face of fee compression and rising costs (necessary to improve investment performance and enhance product distribution), near-term organic growth will be trickier as the firm navigates merger-related outflows.",
    "output": "[Cause] the firm navigates merger-related outflows [Relation] cause [Effect] near-term organic growth will be trickier",
    "gold": "[Cause] the firm navigates merger-related outflows [Relation] cause [Effect] near-term organic growth will be trickier",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Following the restructuring and the Alcon spin-off, we project an average 2% annual sales growth rate during the next five years as new product launches offset patent losses.",
    "output": "[Cause] new product launches offset patent losses [Relation] cause [Effect] an average 2% annual sales growth rate during the next five years",
    "gold": "[Cause] new product launches offset patent losses | Following the restructuring and the Alcon spin-off [Relation] cause [Effect] we project an average 2% annual sales growth rate during the next five years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Law firms particularly loathe change and switch providers at a glacial cadence given attorney concerns over both compliance and cybersecurity.",
    "output": "[Cause] attorney concerns over both compliance and cybersecurity [Relation] cause [Effect] Law firms particularly loathe change and switch providers at a glacial cadence",
    "gold": "[Cause]  attorney concerns over both compliance and cybersecurity [Relation] cause [Effect] Law firms particularly loathe change and switch providers at a glacial cadence",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Comcast will be able to offset lost television revenue with steady growth in Internet access customers and pricing.",
    "output": "[Cause] steady growth in Internet access customers and pricing [Relation] enable [Effect] Comcast will be able to offset lost television revenue",
    "gold": "[Cause] steady growth in Internet access customers and pricing [Relation] enable [Effect] Comcast will be able to offset lost television revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Components such as Motion Industries' pump, power transmission, and motion offerings are often critical to clients' ability to quickly resume operations active after a part failure. Consequently, the industrial unit's clients require leading players to carry a large supply of slow-turning parts for quick delivery (within 24 hours and often same day).",
    "output": "[Cause] Components such as Motion Industries' pump, power transmission, and motion offerings are often critical to clients' ability to quickly resume operations active after a part failure [Relation] cause [Effect] the industrial unit's clients require leading players to carry a large supply of slow-turning parts for quick delivery (within 24 hours and often same day)",
    "gold": "[Cause] Components such as Motion Industries' pump, power transmission, and motion offerings are often critical to clients' ability to quickly resume operations active after a part failure [Relation] cause [Effect] the industrial unit's clients require leading players to carry a large supply of slow-turning parts for quick delivery (within 24 hours and often same day)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The incremental investment required to add a new customer or an employee to a platform is small, which in recent years has resulted in high incremental returns and margins.",
    "output": "[Cause] The incremental investment required to add a new customer or an employee to a platform is small [Relation] cause [Effect] high incremental returns and margins",
    "gold": "[Cause] The incremental investment required to add a new customer or an employee to a platform is small [Relation] cause [Effect] high incremental returns and margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Corning can then use the money it saves to reinvest in innovating its production processes even more and continue to sustainably outprofit its competition.",
    "output": "[Cause] Corning can then use the money it saves to reinvest in innovating its production processes even more [Relation] enable [Effect] sustainably outprofit its competition",
    "gold": "[Cause] Corning can then use the money it saves to reinvest in innovating its production processes even more [Relation] enable [Effect] sustainably outprofit its competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we anticipate that R&D will remain elevated as Uber is likely to invest in new ventures even after the expected sale of its autonomous vehicle business, or ATG, in the first quarter of 2021, resulting in declines in R&D as a percentage of net revenue.",
    "output": "[Cause] Uber is likely to invest in new ventures even after the expected sale of its autonomous vehicle business, or ATG, in the first quarter of 2021 [Relation] cause [Effect] declines in R&D as a percentage of net revenue",
    "gold": "[Cause] Uber is likely to invest in new ventures even after the expected sale of its autonomous vehicle business, or ATG, in the first quarter of 2021 [Relation] cause [Effect] declines in R&D as a percentage of net revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we anticipate that R&D will remain elevated as Uber is likely to invest in new ventures even after the expected sale of its autonomous vehicle business, or ATG, in the first quarter of 2021, resulting in declines in R&D as a percentage of net revenue.",
    "output": "[Cause] Uber is likely to invest in new ventures even after the expected sale of its autonomous vehicle business, or ATG, in the first quarter of 2021 [Relation] cause [Effect] declines in R&D as a percentage of net revenue",
    "gold": "[Cause] Uber is likely to invest in new ventures even after the expected sale of its autonomous vehicle business, or ATG, in the first quarter of 2021, resulting in declines in R&D as a percentage of net revenue [Relation] cause [Effect] we anticipate that R&D will remain elevated",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we don't see risks stemming from environmental, social, and governance as particularly germane, we concede Kraft Heinz could be forced to recall its fare if quality standards fall short.",
    "output": "[Cause] quality standards fall short [Relation] cause [Effect] Kraft Heinz could be forced to recall its fare",
    "gold": "[Cause] quality standards fall short [Relation] cause [Effect] Kraft Heinz could be forced to recall its fare",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the firm has been successful so far in increasing market share in Get Bigger categories, the categories are very competitive and require consistent spending behind brands to maintain share gains.",
    "output": "[Cause] the firm has been successful so far in increasing market share in Get Bigger categories [Relation] cause [Effect] the categories are very competitive and require consistent spending behind brands to maintain share gains",
    "gold": "[Cause] the firm has been successful so far in increasing market share in Get Bigger categories [Relation] cause [Effect] the categories are very competitive and require consistent spending behind brands to maintain share gains",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Unlike traditional drugs, Lilly's insulin drugs are very hard to copy by generics and create barriers to entry for noninsulin producers because of the large up-front investments needed to create scale efficiencies.",
    "output": "[Cause] the large up-front investments needed to create scale efficiencies [Relation] cause [Effect] Lilly's insulin drugs are very hard to copy by generics and create barriers to entry for noninsulin producers",
    "gold": "[Cause] the large up-front investments needed to create scale efficiencies [Relation] cause [Effect] Lilly's insulin drugs are very hard to copy by generics and create barriers to entry for noninsulin producers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Jacobs derives over half of its revenue from contracts with government agencies, any potential declines in government spending could have a material impact on Jacobs' profitability.",
    "output": "[Cause] Jacobs derives over half of its revenue from contracts with government agencies [Relation] cause [Effect] any potential declines in government spending could have a material impact on Jacobs' profitability",
    "gold": "[Cause] Jacobs derives over half of its revenue from contracts with government agencies [Relation] cause [Effect] any potential declines in government spending could have a material impact on Jacobs' profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Beyond's gross margins will gradually increase to over 35% by 2030, from 33% in 2020, as the business benefits from added scale, and as a higher portion of manufacturing is brought in-house, partially offset by lower prices.",
    "output": "[Cause] the business benefits from added scale [Relation] cause [Effect] Beyond's gross margins will gradually increase to over 35% by 2030, from 33% in 2020",
    "gold": "[Cause] the business benefits from added scale [Relation] cause [Effect] Beyond's gross margins will gradually increase to over 35% by 2030, from 33% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Beyond's gross margins will gradually increase to over 35% by 2030, from 33% in 2020, as the business benefits from added scale, and as a higher portion of manufacturing is brought in-house, partially offset by lower prices.",
    "output": "[Cause] a higher portion of manufacturing is brought in-house [Relation] cause [Effect] Beyond's gross margins will gradually increase to over 35% by 2030, from 33% in 2020",
    "gold": "[Cause]  a higher portion of manufacturing is brought in-house [Relation] cause [Effect] Beyond's gross margins will gradually increase to over 35% by 2030, from 33% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With Tesla's cost per vehicle set to fall, incumbent automakers may take years or never catch up to Tesla as they won't want to build many new factories from scratch like Tesla is doing.",
    "output": "[Cause] Tesla's cost per vehicle set to fall [Relation] cause [Effect] incumbent automakers may take years or never catch up to Tesla",
    "gold": "[Cause]  they won't want to build many new factories from scratch like Tesla is doing [Relation] cause [Effect] incumbent automakers may take years or never catch up to Tesla",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With Tesla's cost per vehicle set to fall, incumbent automakers may take years or never catch up to Tesla as they won't want to build many new factories from scratch like Tesla is doing.",
    "output": "[Cause] they won't want to build many new factories from scratch like Tesla is doing [Relation] cause [Effect] incumbent automakers may take years or never catch up to Tesla",
    "gold": "[Cause] Tesla's cost per vehicle set to fall [Relation] cause [Effect] incumbent automakers may take years or never catch up to Tesla",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, given Microsoft's installed base of approximately 275 million Office instances, we believe that the company's ability to push Teams to existing users is powerful and that it can use pricing as a lever in ways that Slack cannot.",
    "output": "[Cause] Microsoft's installed base of approximately 275 million Office instances [Relation] cause [Effect] the company's ability to push Teams to existing users is powerful and that it can use pricing as a lever in ways that Slack cannot",
    "gold": "[Cause] Microsoft's installed base of approximately 275 million Office instances [Relation] cause [Effect] the company's ability to push Teams to existing users is powerful and that it can use pricing as a lever in ways that Slack cannot",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result of booming demand, the industry has overexpanded and active grey market channels were created where the consumer can buy an authentic watch at a discount.",
    "output": "[Cause] booming demand [Relation] cause [Effect] the industry has overexpanded and active grey market channels were created where the consumer can buy an authentic watch at a discount",
    "gold": "[Cause] booming demand [Relation] cause [Effect] the industry has overexpanded and active grey market channels were created where the consumer can buy an authentic watch at a discount",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Capital expenditures will be comparatively lower than other cannabis companies we cover, as the company plans to purchase cannabis from other cultivators rather than expand capacity.",
    "output": "[Cause] the company plans to purchase cannabis from other cultivators rather than expand capacity [Relation] cause [Effect] Capital expenditures will be comparatively lower than other cannabis companies we cover",
    "gold": "[Cause] the company plans to purchase cannabis from other cultivators rather than expand capacity [Relation] cause [Effect] Capital expenditures will be comparatively lower than other cannabis companies we cover",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In terms of environment, social, and governance measures, Sustainalytics views Edwards' risk exposure as medium, which is mitigated by strong management measures, and we concur.",
    "output": "[Cause] strong management measures [Relation] enable [Effect] Edwards' risk exposure as medium",
    "gold": "[Cause] strong management measures [Relation] cause [Effect] Edwards' risk exposure as medium",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Changes in new engine delivery forecasts slightly lowers annualized fleet growth over the five-year forecast period to 0.6% from 0.9% as a result of higher wide-body aircraft retirement on the back of lower underlying demand amid airline capacity rightsizing.",
    "output": "[Cause] higher wide-body aircraft retirement on the back of lower underlying demand amid airline capacity rightsizing [Relation] cause [Effect] Changes in new engine delivery forecasts slightly lowers annualized fleet growth over the five-year forecast period to 0.6% from 0.9%",
    "gold": "[Cause] higher wide-body aircraft retirement on the back of lower underlying demand amid airline capacity rightsizing [Relation] cause [Effect] Changes in new engine delivery forecasts slightly lowers annualized fleet growth over the five-year forecast period to 0.6% from 0.9%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Changes in new engine delivery forecasts slightly lowers annualized fleet growth over the five-year forecast period to 0.6% from 0.9% as a result of higher wide-body aircraft retirement on the back of lower underlying demand amid airline capacity rightsizing.",
    "output": "[Cause] higher wide-body aircraft retirement on the back of lower underlying demand amid airline capacity rightsizing [Relation] cause [Effect] Changes in new engine delivery forecasts slightly lowers annualized fleet growth over the five-year forecast period to 0.6% from 0.9%",
    "gold": "[Cause] higher wide-body aircraft retirement | lower underlying demand [Relation] cause [Effect] airline capacity rightsizing",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Positioning in the competitive landscape is also still strong, as Bristol's Inrebic has a narrower label and a black-box warning.",
    "output": "[Cause] Bristol's Inrebic has a narrower label and a black-box warning [Relation] cause [Effect] Positioning in the competitive landscape is also still strong",
    "gold": "[Cause] Bristol's Inrebic has a narrower label and a black-box warning [Relation] cause [Effect] Positioning in the competitive landscape is also still strong",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For travelers, Booking.com was intriguing because it offered agency bookings, which allowed them to pay after a hotel visit versus having to pay up front with merchant bookings.",
    "output": "[Cause] it offered agency bookings [Relation] enable [Effect] allowed them to pay after a hotel visit versus having to pay up front with merchant bookings",
    "gold": "[Cause] it offered agency bookings, which allowed them to pay after a hotel visit versus having to pay up front with merchant bookings [Relation] cause [Effect] For travelers, Booking.com was intriguing",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, our forward estimates are based on selling, general, and administrative expenses leveling off as a percentage of sales and gross margin expanding modestly (from 2019 levels) on merchandise margin, top-line leverage, and decreased lead times. Therefore, there is an inherent risk that the cost structure increases more than expected, further changes to the supply chain are more difficult to achieve, pricing power diminishes, or that consumer spending is lower than expected and the model faces less leverage.",
    "output": "[Cause] our forward estimates are based on selling, general, and administrative expenses leveling off as a percentage of sales and gross margin expanding modestly (from 2019 levels) on merchandise margin, top-line leverage, and decreased lead times [Relation] cause [Effect] there is an inherent risk that the cost structure increases more than expected, further changes to the supply chain are more difficult to achieve, pricing power diminishes, or that consumer spending is lower than expected and the model faces less leverage",
    "gold": "[Cause] our forward estimates are based on selling, general, and administrative expenses leveling off as a percentage of sales and gross margin expanding modestly (from 2019 levels) on merchandise margin, top-line leverage, and decreased lead times [Relation] cause [Effect]  there is an inherent risk that the cost structure increases more than expected, further changes to the supply chain are more difficult to achieve, pricing power diminishes, or that consumer spending is lower than expected and the model faces less leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Comcast has steadily gained market share over its primary competitors, phone companies like AT&T and Verizon, as high-quality Internet access has become a staple utility in more households.",
    "output": "[Cause] high-quality Internet access has become a staple utility in more households [Relation] cause [Effect] Comcast has steadily gained market share over its primary competitors, phone companies like AT&T and Verizon",
    "gold": "[Cause] high-quality Internet access has become a staple utility in more households [Relation] cause [Effect] Comcast has steadily gained market share over its primary competitors, phone companies like AT&T and Verizon",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While data on the venture is limited, we are inclined to think that the stores contribute to US Foods' competitive edge by increasing its scale, as the stores help the firm further penetrate existing clients and generate incremental revenue by reaching new clients.",
    "output": "[Cause] the stores help the firm further penetrate existing clients and generate incremental revenue by reaching new clients [Relation] cause [Effect] the stores contribute to US Foods' competitive edge by increasing its scale",
    "gold": "[Cause] the stores help the firm further penetrate existing clients and generate incremental revenue by reaching new clients [Relation] cause [Effect] the stores contribute to US Foods' competitive edge by increasing its scale",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The delay in issuing 3G licenses meaning a concentrated investment period in 3G then 4G and soon 5G mobile networks in a shorter period of time than other markets has also not helped returns.",
    "output": "[Cause] The delay in issuing 3G licenses meaning a concentrated investment period in 3G then 4G and soon 5G mobile networks in a shorter period of time than other markets [Relation] prevent [Effect] returns",
    "gold": "[Cause] The delay in issuing 3G licenses [Relation] cause [Effect] a concentrated investment period in 3G then 4G and soon 5G mobile networks in a shorter period of time than other markets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Perhaps more important, we are concerned that Coloplast's limited wound-care portfolio--mainly foam dressings--is on the lower-tech end of the spectrum, leaving the firm more vulnerable as advanced wound care has moved toward negative-pressure wound therapy and hydrofiber products.",
    "output": "[Cause] advanced wound care has moved toward negative-pressure wound therapy and hydrofiber products [Relation] cause [Effect] the firm more vulnerable",
    "gold": "[Cause] advanced wound care has moved toward negative-pressure wound therapy and hydrofiber products [Relation] cause [Effect] the firm more vulnerable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Corning's operating margins are stable in the low- to midteens, as compared with AGC and NEG, that stagnate in the high single digits. This is all while Corning more than doubles the R&amp;D spend of these competitors, both on an absolute and percentage-of-sales basis.",
    "output": "[Cause] Corning's operating margins are stable in the low- to midteens, as compared with AGC and NEG, that stagnate in the high single digits [Relation] cause [Effect] Corning more than doubles the R&amp;D spend of these competitors, both on an absolute and percentage-of-sales basis",
    "gold": "[Cause] Corning's operating margins are stable in the low- to midteens, as compared with AGC and NEG, that stagnate in the high single digits [Relation] cause [Effect] Corning more than doubles the R&amp;D spend of these competitors, both on an absolute and percentage-of-sales basis",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Switching costs for institutional clients (listed companies and government entities) is lower, as clients often bank with multiple financial institutions.",
    "output": "[Cause] clients often bank with multiple financial institutions [Relation] cause [Effect] Switching costs for institutional clients (listed companies and government entities) is lower",
    "gold": "[Cause] Switching costs for institutional clients (listed companies and government entities) is lower [Relation] cause [Effect]  clients often bank with multiple financial institutions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As such, we think PPD's top line is positioned to continue to grow, as it offers innovative patient recruitment solutions and expands geographically.",
    "output": "[Cause] it offers innovative patient recruitment solutions and expands geographically [Relation] cause [Effect] PPD's top line is positioned to continue to grow",
    "gold": "[Cause] it offers innovative patient recruitment solutions and expands geographically [Relation] cause [Effect]  PPD's top line is positioned to continue to grow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we forecast average ROICs for the next five years of about 9% because of large acquisitions in Europe, we expect LKQ's ROIC to reach nearly 10% by 2024 as it refines its operations outside of North America.",
    "output": "[Cause] it refines its operations outside of North America [Relation] cause [Effect] LKQ's ROIC to reach nearly 10% by 2024",
    "gold": "[Cause]  we expect LKQ's ROIC to reach nearly 10% by 2024 [Relation] enable [Effect]  it refines its operations outside of North America",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Overall, we estimate the pandemic and recession will translate into 17% top-line growth in 2021 off depressed 2020 revenue, followed by a return to more normalized growth averaging 6% through 2025.",
    "output": "[Cause] the pandemic and recession [Relation] cause [Effect] 17% top-line growth in 2021 off depressed 2020 revenue, followed by a return to more normalized growth averaging 6% through 2025",
    "gold": "[Cause]  the pandemic [Relation] cause [Effect] recession",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The tower business is very capital intensive, and returns are typically not good unless or until the tower provider can secure multiple tenants on the tower, a feat made more difficult for a competitor by the limited pool of potential customers.",
    "output": "[Cause] the limited pool of potential customers [Relation] cause [Effect] a feat made more difficult for a competitor",
    "gold": "[Cause] the limited pool of potential customers [Relation] cause [Effect] a feat made more difficult for a competitor",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have bumped our fair value estimate for Fluor to $19 from $17.50 after the engineering and construction firm reported its first-quarter 2021 earnings.",
    "output": "[Cause] the engineering and construction firm reported its first-quarter 2021 earnings [Relation] cause [Effect] bumped our fair value estimate for Fluor to $19 from $17.50",
    "gold": "[Cause] the engineering and construction firm reported its first-quarter 2021 earnings [Relation] cause [Effect] bumped our fair value estimate for Fluor to $19 from $17.50",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Gulfstream has an extensive, global product support network that allows them to regularly take the top position among product support networks, which creates a sticky stream of aftermarket revenue, representing about a quarter of segment sales.",
    "output": "[Cause] Gulfstream has an extensive, global product support network [Relation] enable [Effect] them to regularly take the top position among product support networks",
    "gold": "[Cause] Gulfstream has an extensive, global product support network [Relation] enable [Effect]  them to regularly take the top position among product support networks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Gulfstream has an extensive, global product support network that allows them to regularly take the top position among product support networks, which creates a sticky stream of aftermarket revenue, representing about a quarter of segment sales.",
    "output": "[Cause] Gulfstream has an extensive, global product support network [Relation] enable [Effect] them to regularly take the top position among product support networks",
    "gold": "[Cause]  them to regularly take the top position among product support networks [Relation] cause [Effect] creates a sticky stream of aftermarket revenue, representing about a quarter of segment sales",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We have a very high uncertainty rating on Guardant Health, with strong competition expected in liquid biopsy over the next decade, and we see a scenario where Guardant does not achieve positive free cash flow over our 10-year forecast.",
    "output": "[Cause] strong competition expected in liquid biopsy over the next decade [Relation] cause [Effect] a very high uncertainty rating on Guardant Health",
    "gold": "[Cause] strong competition expected in liquid biopsy over the next decade [Relation] cause [Effect] a very high uncertainty rating on Guardant Health",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have a very high uncertainty rating on Guardant Health, with strong competition expected in liquid biopsy over the next decade, and we see a scenario where Guardant does not achieve positive free cash flow over our 10-year forecast.",
    "output": "[Cause] strong competition expected in liquid biopsy over the next decade [Relation] cause [Effect] a scenario where Guardant does not achieve positive free cash flow over our 10-year forecast",
    "gold": "[Cause] strong competition expected in liquid biopsy over the next decade [Relation] cause [Effect] a scenario where Guardant does not achieve positive free cash flow over our 10-year forecast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see potential healthcare policy changes as the key ESG risk for Tenet, as government officials strive to reach universal coverage.",
    "output": "[Cause] government officials strive to reach universal coverage [Relation] cause [Effect] potential healthcare policy changes as the key ESG risk for Tenet",
    "gold": "[Cause] government officials strive to reach universal coverage [Relation] enable [Effect] potential healthcare policy changes as the key ESG risk for Tenet",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After a major management changeover in 2014-15, Insulet has improved its manufacturing and commercialization strategies and has made progress in gaining economies of scale to bring down costs, while enlarging its user base.",
    "output": "[Cause] Insulet has improved its manufacturing and commercialization strategies and has made progress in gaining economies of scale [Relation] enable [Effect] bring down costs, while enlarging its user base",
    "gold": "[Cause] Insulet has improved its manufacturing and commercialization strategies [Relation] enable [Effect] made progress in gaining economies of scale to bring down costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "On a standalone basis, we expect AMD to achieve a top-line compound annual growth rate of 21% through 2025 (consistent with management's guidance), including 50% growth in 2021 due to new product growth and the expectation of strong share gains against Intel.",
    "output": "[Cause] new product growth and the expectation of strong share gains against Intel [Relation] cause [Effect] AMD to achieve a top-line compound annual growth rate of 21% through 2025 (consistent with management's guidance), including 50% growth in 2021",
    "gold": "[Cause] new product growth and the expectation of strong share gains against Intel [Relation] cause [Effect] AMD to achieve a top-line compound annual growth rate of 21% through 2025 (consistent with management's guidance), including 50% growth in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In fiscal 2020, Malibu's EBITDA margin was 17%, comparable to Mastercraft's 17%, so further EBITDA expansion could indicate integrated engines have helped give Malibu an edge over peers (we forecast an 18% adjusted EBITDA margin in fiscal 2021 helped by still-robust demand).",
    "output": "[Cause] In fiscal 2020, Malibu's EBITDA margin was 17%, comparable to Mastercraft's 17% [Relation] cause [Effect] further EBITDA expansion could indicate integrated engines have helped give Malibu an edge over peers",
    "gold": "[Cause] integrated engines have helped give Malibu an edge over peers [Relation] cause [Effect] In fiscal 2020, Malibu's EBITDA margin was 17%, comparable to Mastercraft's 17%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If Danone were to be prevented from marketing the health benefits of probiotics, this would probably significantly weaken its brand strength in the category, soften its pricing power, and increase its exposure to its other significant business risk: volatile commodity costs.",
    "output": "[Cause] Danone were to be prevented from marketing the health benefits of probiotics [Relation] cause [Effect] significantly weaken its brand strength in the category, soften its pricing power, and increase its exposure to its other significant business risk: volatile commodity costs",
    "gold": "[Cause] Danone were to be prevented from marketing the health benefits of probiotics [Relation] cause [Effect] significantly weaken its brand strength in the category, soften its pricing power, and increase its exposure to its other significant business risk: volatile commodity costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, investment opportunities have been more limited in the refined products segment. As a result, Magellan has invested more than $5 billion largely elsewhere since 2010 and has built up a respectable but ultimately more volatile and lower-quality crude oil pipeline and marine storage business, which now contributes about 35% of operating margin.",
    "output": "[Cause] investment opportunities have been more limited in the refined products segment [Relation] cause [Effect] Magellan has invested more than $5 billion largely elsewhere since 2010 and has built up a respectable but ultimately more volatile and lower-quality crude oil pipeline and marine storage business, which now contributes about 35% of operating margin",
    "gold": "[Cause]  investment opportunities have been more limited in the refined products segment [Relation] cause [Effect] Magellan has invested more than $5 billion largely elsewhere since 2010 and has built up a respectable but ultimately more volatile and lower-quality crude oil pipeline and marine storage business, which now contributes about 35% of operating margin",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company will need to continue to aggressively replenish its pipeline of complex generic and specialty drugs to pay down debt.",
    "output": "[Cause] The company will need to continue to aggressively replenish its pipeline of complex generic and specialty drugs [Relation] enable [Effect] pay down debt",
    "gold": "[Cause] The company will need to continue to aggressively replenish its pipeline of complex generic and specialty drugs [Relation] enable [Effect] pay down debt",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nonetheless, we think that subscriptions will naturally start to constitute more of Ansys' overall software revenue as many of its latest offerings lend themselves more to the time-based subscription model, which should help Ansys' margins significantly.",
    "output": "[Cause] many of its latest offerings lend themselves more to the time-based subscription model [Relation] cause [Effect] subscriptions will naturally start to constitute more of Ansys' overall software revenue",
    "gold": "[Cause] many of its latest offerings lend themselves more to the time-based subscription model [Relation] cause [Effect] subscriptions will naturally start to constitute more of Ansys' overall software revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nonetheless, we think that subscriptions will naturally start to constitute more of Ansys' overall software revenue as many of its latest offerings lend themselves more to the time-based subscription model, which should help Ansys' margins significantly.",
    "output": "[Cause] many of its latest offerings lend themselves more to the time-based subscription model [Relation] enable [Effect] subscriptions will naturally start to constitute more of Ansys' overall software revenue",
    "gold": "[Cause] many of its latest offerings lend themselves more to the time-based subscription model [Relation] cause [Effect] help Ansys' margins significantly",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Textron's specialty vehicles business is mostly its EZ Go Golf carts and lawn equipment which are not protected by any meaningful technical complexity or brand asset, which invites competition that brings returns to the cost of capital. This segment has not posted meaningfully strong segment returns in recent memory, and we don't much reason why the company would be able to turn this around.",
    "output": "[Cause] Textron's specialty vehicles business is mostly its EZ Go Golf carts and lawn equipment which are not protected by any meaningful technical complexity or brand asset, which invites competition that brings returns to the cost of capital [Relation] cause [Effect] This segment has not posted meaningfully strong segment returns in recent memory, and we don't much reason why the company would be able to turn this around",
    "gold": "[Cause] Textron's specialty vehicles business is mostly its EZ Go Golf carts and lawn equipment which are not protected by any meaningful technical complexity or brand asset, which invites competition that brings returns to the cost of capital [Relation] cause [Effect] This segment has not posted meaningfully strong segment returns in recent memory, and we don't much reason why the company would be able to turn this around",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that this growth will be increasingly driven by international markets, as emerging markets become a more meaningful engine for the business.",
    "output": "[Cause] emerging markets become a more meaningful engine for the business [Relation] cause [Effect] this growth will be increasingly driven by international markets",
    "gold": "[Cause] emerging markets become a more meaningful engine for the business [Relation] cause [Effect] this growth will be increasingly driven by international markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The revenue pressure due to COVID-19, plus additional investments to enhance the platform and improve data privacy and security and content management, will likely hurt margins in 2020.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] The revenue pressure",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] The revenue pressure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The revenue pressure due to COVID-19, plus additional investments to enhance the platform and improve data privacy and security and content management, will likely hurt margins in 2020.",
    "output": "[Cause] The revenue pressure [Relation] cause [Effect] hurt margins in 2020",
    "gold": "[Cause] The revenue pressure [Relation] cause [Effect] hurt margins in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The revenue pressure due to COVID-19, plus additional investments to enhance the platform and improve data privacy and security and content management, will likely hurt margins in 2020.",
    "output": "[Cause] The revenue pressure [Relation] cause [Effect] hurt margins in 2020",
    "gold": "[Cause] additional investments to enhance the platform [Relation] cause [Effect] hurt margins in 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, continued advancements in efficiency create added strain on an already tight market, since fewer frac spreads will eventually be required to maintain the same levels of production.",
    "output": "[Cause] continued advancements in efficiency [Relation] cause [Effect] added strain on an already tight market",
    "gold": "[Cause]  continued advancements in efficiency [Relation] cause [Effect] added strain on an already tight market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, continued advancements in efficiency create added strain on an already tight market, since fewer frac spreads will eventually be required to maintain the same levels of production.",
    "output": "[Cause] fewer frac spreads will eventually be required to maintain the same levels of production [Relation] cause [Effect] added strain on an already tight market",
    "gold": "[Cause] fewer frac spreads [Relation] enable [Effect] maintain the same levels of production.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As demand resumes longer term, we think pricing could grow at a low-single-digit clip (averaging around 2.5% between 2023-29) as willingness to socially gather resumes.",
    "output": "[Cause] willingness to socially gather resumes [Relation] cause [Effect] pricing could grow at a low-single-digit clip",
    "gold": "[Cause] As demand resumes longer term [Relation] enable [Effect] we think pricing could grow at a low-single-digit clip (averaging around 2.5% between 2023-29)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our fair value increase reflects the recently announced divestment of the engineered materials segment as well as our more optimistic long-term revenue growth and operating margin assumptions for Crane's core segments.",
    "output": "[Cause] the recently announced divestment of the engineered materials segment as well as our more optimistic long-term revenue growth and operating margin assumptions for Crane's core segments [Relation] cause [Effect] Our fair value increase",
    "gold": "[Cause] Our fair value increase [Relation] enable [Effect] reflects the recently announced divestment of the engineered materials segment as well as our more optimistic long-term revenue growth and operating margin assumptions for Crane's core segments",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe that \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"GTA Online\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" and this stream of free content works with the franchise's well-established single-player experience to help \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"Grand Theft Auto V\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" effectively become an annual release.",
    "output": "[Cause] stream of free content works with the franchise's well-established single-player experience [Relation] enable [Effect] help \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"",
    "gold": "[Cause]  stream of free content works [Relation] enable [Effect] Grand Theft Auto V\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" effectively become an annual release",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because of its R&D efforts and technical know-how, Honeywell has virtually shut out other competitors in awarded contracts for avionics (aviation electronics), auxiliary power units, and mechanical systems (for example landing gear) since 2013.",
    "output": "[Cause] its R&D efforts and technical know-how [Relation] cause [Effect] Honeywell has virtually shut out other competitors in awarded contracts for avionics (aviation electronics), auxiliary power units, and mechanical systems (for example landing gear) since 2013",
    "gold": "[Cause] its R&D efforts and technical know-how [Relation] cause [Effect] Honeywell has virtually shut out other competitors in awarded contracts for avionics (aviation electronics), auxiliary power units, and mechanical systems (for example landing gear) since 2013",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Range has historically outspent cash flows in most years, and this investment has not paid off yet because commodity prices have deteriorated far more than expected. As a result, Range now contends with an uncomfortable level of financial leverage and is attempting to make ends meet by keeping production flat with a skeleton budget while awaiting higher natural gas prices.",
    "output": "[Cause] Range has historically outspent cash flows in most years, and this investment has not paid off yet because commodity prices have deteriorated far more than expected [Relation] cause [Effect] Range now contends with an uncomfortable level of financial leverage and is attempting to make ends meet by keeping production flat with a skeleton budget while awaiting higher natural gas prices",
    "gold": "[Cause] Range has historically outspent cash flows in most years, and this investment has not paid off yet because commodity prices have deteriorated far more than expected [Relation] cause [Effect] Range now contends with an uncomfortable level of financial leverage and is attempting to make ends meet by keeping production flat with a skeleton budget while awaiting higher natural gas prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the settlement between Apple and Qualcomm in 2019, Qualcomm has regained lost share in the iPhone starting with the 5G iPhone 12 in 2020.",
    "output": "[Cause] the settlement between Apple and Qualcomm in 2019 [Relation] cause [Effect] Qualcomm has regained lost share in the iPhone starting with the 5G iPhone 12 in 2020",
    "gold": "[Cause]  the settlement between Apple and Qualcomm in 2019 [Relation] cause [Effect] Qualcomm has regained lost share in the iPhone starting with the 5G iPhone 12 in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "An extended capital expansion cycle through the next several years means that companies are unlikely to generate returns on invested capital in excess of their costs of capital.",
    "output": "[Cause] An extended capital expansion cycle through the next several years [Relation] cause [Effect] companies are unlikely to generate returns on invested capital in excess of their costs of capital",
    "gold": "[Cause] An extended capital expansion cycle through the next several years [Relation] enable [Effect] companies are unlikely to generate returns on invested capital in excess of their costs of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our uncertainty rating for Twitter is very high, given questions surrounding the company's ability to expand and monetize its user base.",
    "output": "[Cause] questions surrounding the company's ability to expand and monetize its user base [Relation] cause [Effect] Our uncertainty rating for Twitter is very high",
    "gold": "[Cause] questions surrounding the company's ability to expand and monetize its user base [Relation] cause [Effect] Our uncertainty rating for Twitter is very high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "More recently, as a result of temporary factory shutdowns and dealer closures (as well as the pushback of product launches until spring 2021), Harley has ceded massive market share.",
    "output": "[Cause] temporary factory shutdowns and dealer closures (as well as the pushback of product launches until spring 2021) [Relation] cause [Effect] Harley has ceded massive market share",
    "gold": "[Cause]  temporary factory shutdowns and dealer closures (as well as the pushback of product launches until spring 2021) [Relation] cause [Effect] Harley has ceded massive market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With its fierce capital discipline, and revised investment framework, we think Diamondback can keep its spending within cash flows going forward.",
    "output": "[Cause] its fierce capital discipline, and revised investment framework [Relation] enable [Effect] Diamondback can keep its spending within cash flows going forward",
    "gold": "[Cause] its fierce capital discipline, and revised investment framework [Relation] cause [Effect]  Diamondback can keep its spending within cash flows going forward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect on-going flare-ups in mitigating the pandemic will support strong on-going demand for molecular SARS-CoV-2 tests into the first half of calendar 2021.",
    "output": "[Cause] on-going flare-ups in mitigating the pandemic [Relation] enable [Effect] support strong on-going demand for molecular SARS-CoV-2 tests into the first half of calendar 2021",
    "gold": "[Cause] on-going flare-ups in mitigating the pandemic [Relation] enable [Effect] support strong on-going demand for molecular SARS-CoV-2 tests into the first half of calendar 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's products have also been concentrated in the over-35 demographic, which has an increasing proportion moving into retirement age--offering slower demand growth due to a more conservative consumer.",
    "output": "[Cause] a more conservative consumer [Relation] cause [Effect] slower demand growth",
    "gold": "[Cause] a more conservative consumer [Relation] cause [Effect] slower demand growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect a return to trend after strong 2020 sales are lapped in 2021, with 5% average annual revenue growth from 2022-29, fueled by industry consolidation and the firm's Mexican expansion.",
    "output": "[Cause] industry consolidation and the firm's Mexican expansion [Relation] cause [Effect] a return to trend after strong 2020 sales are lapped in 2021, with 5% average annual revenue growth from 2022-29",
    "gold": "[Cause]  industry consolidation and the firm's Mexican expansion [Relation] cause [Effect] a return to trend after strong 2020 sales are lapped in 2021, with 5% average annual revenue growth from 2022-29",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "NJR's renewable energy development helps reduce cash taxes and provide a decent cash return on investment while minimizing the risk of large cost overruns.",
    "output": "[Cause] NJR's renewable energy development [Relation] enable [Effect] reduce cash taxes and provide a decent cash return on investment while minimizing the risk of large cost overruns",
    "gold": "[Cause] NJR's renewable energy development [Relation] enable [Effect] reduce cash taxes and provide a decent cash return on investment while minimizing the risk of large cost overruns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the largest players continue to size up and make omnichannel investments, we expect they will continue to try and shift the axis of power in their favor from a procurement standpoint.",
    "output": "[Cause] the largest players continue to size up and make omnichannel investments [Relation] cause [Effect] we expect they will continue to try and shift the axis of power in their favor from a procurement standpoint",
    "gold": "[Cause]  the largest players continue to size up and make omnichannel investments [Relation] cause [Effect]  we expect they will continue to try and shift the axis of power in their favor from a procurement standpoint",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, considering the requirement to continue to invest significantly to sustain production, we are not confident those excess returns can continue for the petroleum division for at least 10 years.",
    "output": "[Cause] the requirement to continue to invest significantly to sustain production [Relation] cause [Effect] we are not confident those excess returns can continue for the petroleum division for at least 10 years",
    "gold": "[Cause]  the requirement to continue to invest significantly to sustain production [Relation] cause [Effect]  we are not confident those excess returns can continue for the petroleum division for at least 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With its end-to-end portfolio of specialized products and integration of software, we think Zebra's customers would face monetary cost and significant time investment to switch AIDC vendors, in addition to risking efficiency losses. As such, we think Zebra will be able to earn excess returns on invested capital for the better part of the next decade.",
    "output": "[Cause] With its end-to-end portfolio of specialized products and integration of software, we think Zebra's customers would face monetary cost and significant time investment to switch AIDC vendors, in addition to risking efficiency losses [Relation] cause [Effect] Zebra will be able to earn excess returns on invested capital for the better part of the next decade",
    "gold": "[Cause] With its end-to-end portfolio of specialized products and integration of software, we think Zebra's customers would face monetary cost and significant time investment to switch AIDC vendors, in addition to risking efficiency losses [Relation] cause [Effect] Zebra will be able to earn excess returns on invested capital for the better part of the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite the lower margin, private label makes up less than 10% of its consumer revenue (a mid-single-digit percentage of total sales), so these value-priced products are unlikely to dent profits.",
    "output": "[Cause] private label makes up less than 10% of its consumer revenue (a mid-single-digit percentage of total sales) [Relation] cause [Effect] these value-priced products are unlikely to dent profits",
    "gold": "[Cause] private label makes up less than 10% of its consumer revenue (a mid-single-digit percentage of total sales) [Relation] cause [Effect] these value-priced products are unlikely to dent profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Increased spending on safety and sanitation (which totaled $50 million in fiscal 2020 and should persist into fiscal 2021) could eat into near-term margins, but we think this will be countered by robust volume growth that should leverage fixed costs (offsetting some of the potential hit to profits).",
    "output": "[Cause] robust volume growth [Relation] prevent [Effect] leverage fixed costs",
    "gold": "[Cause] robust volume growth [Relation] prevent [Effect] eat into near-term margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Increased spending on safety and sanitation (which totaled $50 million in fiscal 2020 and should persist into fiscal 2021) could eat into near-term margins, but we think this will be countered by robust volume growth that should leverage fixed costs (offsetting some of the potential hit to profits).",
    "output": "[Cause] robust volume growth [Relation] prevent [Effect] leverage fixed costs",
    "gold": "[Cause] leverage fixed costs [Relation] prevent [Effect] some of the potential hit to profits",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Ross emphasizes its store experience in its marketing rather than the brands on offer, allowing it to remain opportunistic in its sourcing practices and enabling vendors to discreetly sell excess merchandise without the stigma of a well-publicized presence in a discount channel.",
    "output": "[Cause] Ross emphasizes its store experience in its marketing rather than the brands on offer [Relation] enable [Effect] it to remain opportunistic in its sourcing practices and enabling vendors to discreetly sell excess merchandise without the stigma of a well-publicized presence in a discount channel",
    "gold": "[Cause] Ross emphasizes its store experience in its marketing rather than the brands on offer [Relation] cause [Effect]  it to remain opportunistic in its sourcing practices and enabling vendors to discreetly sell excess merchandise without the stigma of a well-publicized presence in a discount channel",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The fact that the industry was historically dominated by multinational pharmaceutical companies (Abbott, Wyeth, Bristol-Myers Squibb, GlaxoSmithKline, and Numico all operated or continue to operate a baby food business) indicates that the category straddles the boundary between packaged food and pharmaceuticals.",
    "output": "[Cause] The fact that the industry was historically dominated by multinational pharmaceutical companies [Relation] cause [Effect] the category straddles the boundary between packaged food and pharmaceuticals",
    "gold": "[Cause] the category straddles the boundary between packaged food and pharmaceuticals [Relation] cause [Effect] the industry was historically dominated by multinational pharmaceutical companies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For SiriusXM satellite radio, we expect average annual growth of 4% over the next five years, driven by self-pay subscriber growth to over 33 million from 30 million at the end of 2020 and 2% growth in average revenue per self-pay user.",
    "output": "[Cause] self-pay subscriber growth to over 33 million from 30 million at the end of 2020 and 2% growth in average revenue per self-pay user [Relation] cause [Effect] average annual growth of 4% over the next five years",
    "gold": "[Cause] self-pay subscriber growth to over 33 million from 30 million at the end of 2020 and 2% growth in average revenue per self-pay user [Relation] cause [Effect] average annual growth of 4% over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Administrative cost savings from the merger, in addition to streamlined logistics and additional route density, should bring further leverage to the operating income line, and we model these margins widening to 25.7% in 2025 from 21.3% in 2020.",
    "output": "[Cause] Administrative cost savings from the merger, in addition to streamlined logistics and additional route density [Relation] enable [Effect] bring further leverage to the operating income line",
    "gold": "[Cause] Administrative cost savings from the merger, in addition to streamlined logistics and additional route density [Relation] cause [Effect] bring further leverage to the operating income line",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2019, it reported finding and development costs (a measure of capital costs) of about $10 per barrel of oil equivalent and operating expenses of about $12/boe, which translates to a West Texas Intermediate break-even of less than $30 per barrel and competitively positions the company on the global oil cost curve. As such, the company is better positioned to cope with weak oil prices than many of its peers, and at our midcycle forecast of $55/bbl (WTI) it can really thrive.",
    "output": "[Cause] In 2019, it reported finding and development costs (a measure of capital costs) of about $10 per barrel of oil equivalent and operating expenses of about $12/boe, which translates to a West Texas Intermediate break-even of less than $30 per barrel and competitively positions the company on the global oil cost curve [Relation] cause [Effect] the company is better positioned to cope with weak oil prices than many of its peers, and at our midcycle forecast of $55/bbl (WTI) it can really thrive",
    "gold": "[Cause] In 2019, it reported finding and development costs (a measure of capital costs) of about $10 per barrel of oil equivalent and operating expenses of about $12/boe, which translates to a West Texas Intermediate break-even of less than $30 per barrel and competitively positions the company on the global oil cost curve [Relation] cause [Effect] the company is better positioned to cope with weak oil prices than many of its peers, and at our midcycle forecast of $55/bbl (WTI) it can really thrive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But delays on new platforms resulted in lower-than-expected growth in 2019, and we expect lower volumes in 2020 due to the coronavirus and planned stoppages compared with the year before.",
    "output": "[Cause] delays on new platforms [Relation] cause [Effect] lower-than-expected growth in 2019",
    "gold": "[Cause] delays on new platforms [Relation] cause [Effect] lower-than-expected growth in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But delays on new platforms resulted in lower-than-expected growth in 2019, and we expect lower volumes in 2020 due to the coronavirus and planned stoppages compared with the year before.",
    "output": "[Cause] the coronavirus and planned stoppages compared with the year before [Relation] cause [Effect] lower volumes in 2020",
    "gold": "[Cause] the coronavirus and planned stoppages compared with the year before [Relation] cause [Effect] lower volumes in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm encourages business unit leaders to think like owners by setting aggressive targets for managers and allowing them to achieve these goals however they choose to.",
    "output": "[Cause] setting aggressive targets for managers and allowing them to achieve these goals however they choose to [Relation] enable [Effect] The firm encourages business unit leaders to think like owners",
    "gold": "[Cause]  encourages business unit leaders to think like owners [Relation] enable [Effect] setting aggressive targets for managers and allowing them to achieve these goals however they choose to",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe Apple has been TSMC's largest customer for the last five years, owing to consistent wins of A series processors on multiple devices.",
    "output": "[Cause] consistent wins of A series processors on multiple devices [Relation] cause [Effect] Apple has been TSMC's largest customer for the last five years",
    "gold": "[Cause] consistent wins of A series processors on multiple devices [Relation] cause [Effect] Apple has been TSMC's largest customer for the last five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This sometimes creates challenges in terms of landing contract commitments, as shippers commit to paying a company tariff without firm rights to that capacity, even if they are 'anchor' shippers that contributed to the pipeline's original development.",
    "output": "[Cause] shippers commit to paying a company tariff without firm rights to that capacity [Relation] cause [Effect] sometimes creates challenges in terms of landing contract commitments",
    "gold": "[Cause] shippers commit to paying a company tariff without firm rights to that capacity [Relation] cause [Effect] sometimes creates challenges in terms of landing contract commitments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If Dish plows ahead with a network buildout that subsequently fails to generate economic returns and it becomes a forced seller, the spectrum could have little or no value to shareholders.",
    "output": "[Cause] Dish plows ahead with a network buildout that subsequently fails to generate economic returns and it becomes a forced seller [Relation] cause [Effect] the spectrum could have little or no value to shareholders",
    "gold": "[Cause] Dish plows ahead with a network buildout that subsequently fails to generate economic returns and it becomes a forced seller [Relation] cause [Effect] the spectrum could have little or no value to shareholders",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, travel restrictions will also have greater impact on its profitability, given a high operating leverage with fixed cost making 60%-70% of its operating costs.",
    "output": "[Cause] a high operating leverage with fixed cost making 60%-70% of its operating costs [Relation] cause [Effect] travel restrictions will also have greater impact on its profitability",
    "gold": "[Cause]  a high operating leverage with fixed cost making 60%-70% of its operating costs [Relation] enable [Effect] travel restrictions will also have greater impact on its profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Laredo's legacy assets are primarily located in the eastern fringe of the Midland Basin, which puts it at a relative disadvantage. This area has a lower oil content than the core of the play and initial production rates aren't typically as impressive.",
    "output": "[Cause] Laredo's legacy assets are primarily located in the eastern fringe of the Midland Basin, which puts it at a relative disadvantage [Relation] cause [Effect] This area has a lower oil content than the core of the play and initial production rates aren't typically as impressive",
    "gold": "[Cause] Laredo's legacy assets are primarily located in the eastern fringe of the Midland Basin, which puts it at a relative disadvantage [Relation] cause [Effect] This area has a lower oil content than the core of the play and initial production rates aren't typically as impressive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customers come to Deere not only for the best products in the industry, but also for its ability to provide aftermarket parts on-demand and services to keep their machines running, reducing machine down-time.",
    "output": "[Cause] provide aftermarket parts on-demand and services [Relation] enable [Effect] keep their machines running",
    "gold": "[Cause] not only for the best products in the industry, but also for its ability to provide aftermarket parts on-demand and services [Relation] cause [Effect] Customers come to Deere",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Moreover, both full-price and Rack are supported by large e-commerce presence that has made Nordstrom one of the largest online apparel retailers in the U.S.",
    "output": "[Cause] both full-price and Rack are supported by large e-commerce presence [Relation] enable [Effect] Nordstrom one of the largest online apparel retailers in the U.S",
    "gold": "[Cause]  both full-price and Rack are supported by large e-commerce presence [Relation] enable [Effect] Nordstrom one of the largest online apparel retailers in the U.S",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Positive net pricing, largely due to mix shifts as the firm prioritizes premium brands like Mountain Valley, should also support gross margins.",
    "output": "[Cause] mix shifts as the firm prioritizes premium brands like Mountain Valley [Relation] cause [Effect] Positive net pricing",
    "gold": "[Cause] mix shifts as the firm prioritizes premium brands like Mountain Valley [Relation] cause [Effect] Positive net pricing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we expect a structural lack of transoceanic routes and premium options to limit Southwest's ability to attract the highest-yielding business travelers, we think Southwest's focus on providing low fares ought to allow it to take business travel share while business travelers are looking to cut costs.",
    "output": "[Cause] Southwest's focus on providing low fares [Relation] enable [Effect] it to take business travel share while business travelers are looking to cut costs",
    "gold": "[Cause] a structural lack of transoceanic routes and premium options [Relation] prevent [Effect]  Southwest's ability to attract the highest-yielding business travelers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As accidents occur and vehicles break down, owners turn to alternative parts to get their vehicles back on the road.",
    "output": "[Cause] accidents occur and vehicles break down [Relation] cause [Effect] owners turn to alternative parts to get their vehicles back on the road",
    "gold": "[Cause]  accidents occur and vehicles break down [Relation] cause [Effect] owners turn to alternative parts to get their vehicles back on the road",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although global travel demand has gradually improved from mid-April into October, the recent resurgence of COVID-19 cases could pause trips near term.",
    "output": "[Cause] the recent resurgence of COVID-19 cases [Relation] cause [Effect] pause trips near term",
    "gold": "[Cause]  the recent resurgence of COVID-19 cases [Relation] cause [Effect]  pause trips near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For 2021, we expect continued healthy retail end-market demand, recovering industrial markets, and contract pricing tailwinds to push revenue up in the high teens.",
    "output": "[Cause] continued healthy retail end-market demand [Relation] cause [Effect] revenue up in the high teens",
    "gold": "[Cause] continued healthy retail end-market demand [Relation] enable [Effect] recovering industrial markets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For 2021, we expect continued healthy retail end-market demand, recovering industrial markets, and contract pricing tailwinds to push revenue up in the high teens.",
    "output": "[Cause] continued healthy retail end-market demand, recovering industrial markets, and contract pricing tailwinds [Relation] enable [Effect] revenue up in the high teens",
    "gold": "[Cause] continued healthy retail end-market demand [Relation] enable [Effect] contract pricing tailwinds",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We view this revenue as almost entirely incremental to the airlines and assume that a 90% margin on this revenue is reasonable, as airlines assume modest performance obligations such as email campaigns, in-flight advertising, and airport advertising.",
    "output": "[Cause] airlines assume modest performance obligations such as email campaigns, in-flight advertising, and airport advertising [Relation] cause [Effect] We view this revenue as almost entirely incremental to the airlines and assume that a 90% margin on this revenue is reasonable",
    "gold": "[Cause] airlines assume modest performance obligations such as email campaigns, in-flight advertising, and airport advertising [Relation] cause [Effect] We view this revenue as almost entirely incremental to the airlines and assume that a 90% margin on this revenue is reasonable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although management has done a commendable job redeveloping properties, we could see this strategy backfire in the event that the redevelopment strategy becomes value destructive, which could negate any potential excess returns generated by the observation deck.",
    "output": "[Cause] the redevelopment strategy becomes value destructive [Relation] cause [Effect] negate any potential excess returns generated by the observation deck",
    "gold": "[Cause]  the redevelopment strategy becomes value destructive [Relation] cause [Effect] negate any potential excess returns generated by the observation deck",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, several late-stage drugs targeting rare diseases could provide possible upside to our projections as these drugs tend to carry considerable pricing power.",
    "output": "[Cause] these drugs tend to carry considerable pricing power [Relation] cause [Effect] several late-stage drugs targeting rare diseases could provide possible upside to our projections",
    "gold": "[Cause] these drugs tend to carry considerable pricing power [Relation] cause [Effect] several late-stage drugs targeting rare diseases could provide possible upside to our projections",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There is the risk of potentially defective products harming pets, though we doubt this leaves the firm vulnerable to much in the way of legal liability given the life span and market value of dogs and cats.",
    "output": "[Cause] the life span and market value of dogs and cats [Relation] cause [Effect] we doubt this leaves the firm vulnerable to much in the way of legal liability",
    "gold": "[Cause] the life span and market value of dogs and cats [Relation] cause [Effect] we doubt this leaves the firm vulnerable to much in the way of legal liability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect most of the decrease in trading revenue to come from interest rate products, as short-term interest rates remain low and stable.",
    "output": "[Cause] short-term interest rates remain low and stable [Relation] cause [Effect] most of the decrease in trading revenue to come from interest rate products",
    "gold": "[Cause] short-term interest rates remain low and stable [Relation] cause [Effect]  most of the decrease in trading revenue to come from interest rate products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the end, scale in the packaged water industry bestows greater negotiating clout with suppliers, greater volumes to absorb fixed production-related costs, and greater route density for sales and delivery functions.",
    "output": "[Cause] scale in the packaged water industry [Relation] enable [Effect] greater route density for sales and delivery functions",
    "gold": "[Cause] scale in the packaged water industry [Relation] cause [Effect]  greater route density for sales and delivery functions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Dealers choose to sell Fortune Brand products because the company has a reputation for quality products with a regional supply chain that provides dealers with more local production and prompt service.",
    "output": "[Cause] the company has a reputation for quality products with a regional supply chain that provides dealers with more local production and prompt service [Relation] cause [Effect] Dealers choose to sell Fortune Brand products",
    "gold": "[Cause] the company has a reputation for quality products with a regional supply chain that provides dealers with more local production and prompt service [Relation] cause [Effect] Dealers choose to sell Fortune Brand products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From an ESG perspective, similar to its peer set, Clorox could be challenged if it is forced to recall its fare due to quality concerns.",
    "output": "[Cause] it is forced to recall its fare due to quality concerns [Relation] cause [Effect] Clorox could be challenged",
    "gold": "[Cause] it is forced to recall its fare due to quality concerns [Relation] cause [Effect] Clorox could be challenged",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The resulting cost leverage allows it to be even more aggressive with pricing, sidestepping the traffic pressure that other retailers have faced as channels shift.",
    "output": "[Cause] The resulting cost leverage [Relation] enable [Effect] sidestepping the traffic pressure that other retailers have faced as channels shift",
    "gold": "[Cause] to be even more aggressive with pricing [Relation] prevent [Effect] the traffic pressure that other retailers have faced as channels shift",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The opportunity for incremental connections comes both from new customers in the buildings where Cogent connects (where the firm currently has only a 25% share) and from existing customers adding additional connections.",
    "output": "[Cause] new customers in the buildings where Cogent connects (where the firm currently has only a 25% share) and from existing customers adding additional connections [Relation] cause [Effect] The opportunity for incremental connections",
    "gold": "[Cause] new customers in the buildings where Cogent connects (where the firm currently has only a 25% share) and from existing customers adding additional connections [Relation] cause [Effect] The opportunity for incremental connections",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, we expect Airbnb to lower marketing expense to 20% of revenue in 2030 from 34% in 2019 (2019 was a heavier investment year, with 2018 marketing costs at 30% of sales), as the company benefits from strong global awareness and a more complete platform offering long term. As a result, we estimate Airbnb's revenue growth to average 23% over the next 10 years (unchanged), with operating margins still expanding to the mid-20s in 2030 from negative 17% in 2020 (before stock-based compensation; and the 10% in 2019).",
    "output": "[Cause] Airbnb to lower marketing expense to 20% of revenue in 2030 from 34% in 2019 (2019 was a heavier investment year, with 2018 marketing costs at 30% of sales), as the company benefits from strong global awareness and a more complete platform offering long term [Relation] cause [Effect] Airbnb's revenue growth to average 23% over the next 10 years (unchanged), with operating margins still expanding to the mid-20s in 2030 from negative 17% in 2020 (before stock-based compensation; and the 10% in 2019)",
    "gold": "[Cause] Airbnb to lower marketing expense to 20% of revenue in 2030 from 34% in 2019 (2019 was a heavier investment year, with 2018 marketing costs at 30% of sales), as the company benefits from strong global awareness and a more complete platform offering long term [Relation] cause [Effect]  Airbnb's revenue growth to average 23% over the next 10 years (unchanged), with operating margins still expanding to the mid-20s in 2030 from negative 17% in 2020 (before stock-based compensation; and the 10% in 2019)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With sizable ORV recalls and delayed shipments long behind us, we think Polaris has stabilized brand goodwill in the ORV segment, helping support segment growth potential and keep the firm's brand intangible asset in place.",
    "output": "[Cause] sizable ORV recalls and delayed shipments long behind us [Relation] cause [Effect] Polaris has stabilized brand goodwill in the ORV segment, helping support segment growth potential and keep the firm's brand intangible asset in place",
    "gold": "[Cause]  sizable ORV recalls and delayed shipments long behind us [Relation] enable [Effect]  Polaris has stabilized brand goodwill in the ORV segment, helping support segment growth potential and keep the firm's brand intangible asset in place",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the breadth of Lumen's services could logically lead to cost advantages or customer switching costs, the legacy business has weighed on returns on invested capital, which have averaged about 7% since the Level 3 merger.",
    "output": "[Cause] the breadth of Lumen's services [Relation] cause [Effect] cost advantages or customer switching costs",
    "gold": "[Cause] the breadth of Lumen's services [Relation] enable [Effect] cost advantages or customer switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result of the greater geographical dispersion of customer assets and the difficulty in centralizing maintenance, attachment rates of long-term service contracts are low relative to the commercial aerospace sector at approximately 30%. Consequently, the bulk of service-related revenue is generated through the sale of spare parts to a fragmented base of third-party service contractors.",
    "output": "[Cause] the greater geographical dispersion of customer assets and the difficulty in centralizing maintenance, attachment rates of long-term service contracts are low relative to the commercial aerospace sector at approximately 30% [Relation] cause [Effect] the bulk of service-related revenue is generated through the sale of spare parts to a fragmented base of third-party service contractors",
    "gold": "[Cause] the greater geographical dispersion of customer assets and the difficulty in centralizing maintenance, attachment rates of long-term service contracts are low relative to the commercial aerospace sector at approximately 30% [Relation] cause [Effect] the bulk of service-related revenue is generated through the sale of spare parts to a fragmented base of third-party service contractors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Enterprises can be slow to migrate to the cloud given the greater degree of complexity involved in modifying large-scale operations.",
    "output": "[Cause] the greater degree of complexity involved in modifying large-scale operations [Relation] cause [Effect] Enterprises can be slow to migrate to the cloud",
    "gold": "[Cause] the greater degree of complexity involved in modifying large-scale operations [Relation] cause [Effect] Enterprises can be slow to migrate to the cloud",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the past decade, RELX has undergone wholesale changes to the structure of the company, taking its exposure to electronic-format businesses from 35% to closer to 90%.",
    "output": "[Cause] RELX has undergone wholesale changes to the structure of the company [Relation] cause [Effect] taking its exposure to electronic-format businesses from 35% to closer to 90%",
    "gold": "[Cause] RELX has undergone wholesale changes to the structure of the company [Relation] enable [Effect] taking its exposure to electronic-format businesses from 35% to closer to 90%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the pain of changing data vendors, we believe this segment does have some switching costs but also note that it faces competition from the likes of FactSet and Refinitiv.",
    "output": "[Cause] the pain of changing data vendors [Relation] cause [Effect] this segment does have some switching costs but also note that it faces competition from the likes of FactSet and Refinitiv",
    "gold": "[Cause]  this segment does have some switching costs but also note that it faces competition from the likes of FactSet and Refinitiv [Relation] prevent [Effect] the pain of changing data vendors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the barriers to entry are not all that significant for the industry, the barriers to success are extremely high as it not only takes time and skill to put together a long enough track record of investment performance to start gathering assets but even more time to build the scale necessary to remain competitive. This has generally provided the larger, more established asset managers with an advantage over the smaller players in the industry, especially when it comes to gaining cost-effective access to distribution platforms.",
    "output": "[Cause] While the barriers to entry are not all that significant for the industry, the barriers to success are extremely high as it not only takes time and skill to put together a long enough track record of investment performance to start gathering assets but even more time to build the scale necessary to remain competitive [Relation] cause [Effect] provided the larger, more established asset managers with an advantage over the smaller players in the industry, especially when it comes to gaining cost-effective access to distribution platforms",
    "gold": "[Cause] While the barriers to entry are not all that significant for the industry, the barriers to success are extremely high as it not only takes time and skill to put together a long enough track record of investment performance to start gathering assets but even more time to build the scale necessary to remain competitive [Relation] cause [Effect] provided the larger, more established asset managers with an advantage over the smaller players in the industry, especially when it comes to gaining cost-effective access to distribution platforms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Large dealers are enjoying a growing competitive advantage for repair work because the increasingly advanced technology of cars presents an obstacle for smaller repair shops that are less able to afford the equipment and training needed to provide competent service.",
    "output": "[Cause] the increasingly advanced technology of cars presents an obstacle for smaller repair shops that are less able to afford the equipment and training needed to provide competent service [Relation] cause [Effect] Large dealers are enjoying a growing competitive advantage for repair work",
    "gold": "[Cause] the increasingly advanced technology of cars presents an obstacle for smaller repair shops that are less able to afford the equipment and training needed to provide competent service [Relation] enable [Effect] Large dealers are enjoying a growing competitive advantage for repair work",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A Huntington's disease partnership with Roche (pivotal data expected in 2022) and a broad collaboration with Biogen (pivotal ALS data expected in 2021) drive the late-stage neurology pipeline.",
    "output": "[Cause] A Huntington's disease partnership with Roche (pivotal data expected in 2022) and a broad collaboration with Biogen (pivotal ALS data expected in 2021) [Relation] enable [Effect] the late-stage neurology pipeline",
    "gold": "[Cause] A Huntington's disease partnership with Roche (pivotal data expected in 2022) and a broad collaboration with Biogen (pivotal ALS data expected in 2021) [Relation] enable [Effect] the late-stage neurology pipeline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "CME does not amortize the intangible assets it acquired from CBOT and Nymex, instead choosing to leave them on the balance sheet, inflating its invested capital.",
    "output": "[Cause] CME does not amortize the intangible assets it acquired from CBOT and Nymex, instead choosing to leave them on the balance sheet [Relation] cause [Effect] inflating its invested capital",
    "gold": "[Cause] CME does not amortize the intangible assets it acquired from CBOT and Nymex, instead choosing to leave them on the balance sheet [Relation] cause [Effect] inflating its invested capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To reach functional parity, EV will need to have adequate range, reduced charging times, and have availability of charging infrastructure.",
    "output": "[Cause] reach functional parity [Relation] cause [Effect] EV will need to have adequate range, reduced charging times, and have availability of charging infrastructure",
    "gold": "[Cause] adequate range, reduced charging times, and have availability of charging infrastructure [Relation] enable [Effect]  reach functional parity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Expenses have been elevated over the past few years from catch-up research and development, high promotional spending, and separation costs.",
    "output": "[Cause] catch-up research and development, high promotional spending, and separation costs [Relation] cause [Effect] Expenses have been elevated over the past few years",
    "gold": "[Cause] catch-up research and development, high promotional spending, and separation costs [Relation] cause [Effect] Expenses have been elevated over the past few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From Grainger's perspective, they drive incremental sales and build stickier customer relationships as Grainger becomes deeply embedded in the customer's procurement process.",
    "output": "[Cause] Grainger becomes deeply embedded in the customer's procurement process [Relation] cause [Effect] they drive incremental sales and build stickier customer relationships",
    "gold": "[Cause] Grainger becomes deeply embedded in the customer's procurement process [Relation] cause [Effect] they drive incremental sales and build stickier customer relationships",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Criteo's heterogenous network effect was due to the positive virtuous cycle and incremental value it created for advertisers and publishers as the company gained scale.",
    "output": "[Cause] the positive virtuous cycle and incremental value it created for advertisers and publishers [Relation] cause [Effect] Criteo's heterogenous network effect",
    "gold": "[Cause] the company gained scale [Relation] enable [Effect] the positive virtuous cycle and incremental value it created for advertisers and publishers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Criteo's heterogenous network effect was due to the positive virtuous cycle and incremental value it created for advertisers and publishers as the company gained scale.",
    "output": "[Cause] the positive virtuous cycle and incremental value it created for advertisers and publishers [Relation] cause [Effect] Criteo's heterogenous network effect",
    "gold": "[Cause] the positive virtuous cycle and incremental value it created for advertisers and publishers [Relation] cause [Effect] Criteo's heterogenous network effect",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Okta is migrating upstream to gain larger enterprise clients, establish larger initial contracts, and expand the number of products customers purchase, which we believe help fortify its customer stickiness.",
    "output": "[Cause] Okta is migrating upstream [Relation] enable [Effect] gain larger enterprise clients, establish larger initial contracts, and expand the number of products customers purchase",
    "gold": "[Cause] Okta is migrating upstream [Relation] cause [Effect]  gain larger enterprise clients, establish larger initial contracts, and expand the number of products customers purchase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Okta is migrating upstream to gain larger enterprise clients, establish larger initial contracts, and expand the number of products customers purchase, which we believe help fortify its customer stickiness.",
    "output": "[Cause] Okta is migrating upstream [Relation] enable [Effect] help fortify its customer stickiness",
    "gold": "[Cause] Okta is migrating upstream [Relation] enable [Effect]  help fortify its customer stickiness",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "BP's renewable power generation targets are relatively aggressive as it plans to grow capacity from 2.5 GW currently to 20 GW in 2025 and 50 GW in 2030.",
    "output": "[Cause] it plans to grow capacity from 2.5 GW currently to 20 GW in 2025 and 50 GW in 2030 [Relation] cause [Effect] BP's renewable power generation targets are relatively aggressive",
    "gold": "[Cause] it plans to grow capacity from 2.5 GW currently to 20 GW in 2025 and 50 GW in 2030 [Relation] cause [Effect] BP's renewable power generation targets are relatively aggressive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, Quest's pricing is in line with other premium brands that also use natural ingredients, and as such, fails to suggest evidence of a pricing edge.",
    "output": "[Cause] Quest's pricing is in line with other premium brands that also use natural ingredients [Relation] cause [Effect] fails to suggest evidence of a pricing edge",
    "gold": "[Cause] Quest's pricing is in line with other premium brands that also use natural ingredients [Relation] cause [Effect] fails to suggest evidence of a pricing edge",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While BP has managed to maintain those improvements, the uncertainty of excess returns 10 years from now has increased due the changing composition of the business and potential level of commodity prices during the next 10 years.",
    "output": "[Cause] the changing composition of the business and potential level of commodity prices during the next 10 years [Relation] cause [Effect] the uncertainty of excess returns 10 years from now has increased",
    "gold": "[Cause] the changing composition of the business and potential level of commodity prices during the next 10 years [Relation] prevent [Effect] the uncertainty of excess returns 10 years from now has increased",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect it can avoid bringing assets back on a 1-for-1 basis as volume recovers, driving positive operating leverage.",
    "output": "[Cause] volume recovers [Relation] cause [Effect] it can avoid bringing assets back on a 1-for-1 basis",
    "gold": "[Cause] volume recovers [Relation] enable [Effect]  it can avoid bringing assets back on a 1-for-1 basis",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect it can avoid bringing assets back on a 1-for-1 basis as volume recovers, driving positive operating leverage.",
    "output": "[Cause] volume recovers [Relation] cause [Effect] it can avoid bringing assets back on a 1-for-1 basis",
    "gold": "[Cause]  it can avoid bringing assets back on a 1-for-1 basis [Relation] cause [Effect] driving positive operating leverage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the complex nature of electromechanical systems in vehicles and industrial applications like motor drives, it is prohibitively arduous to strip out a specific custom component and replace it once it is designed in.",
    "output": "[Cause] the complex nature of electromechanical systems in vehicles and industrial applications like motor drives [Relation] cause [Effect] it is prohibitively arduous to strip out a specific custom component and replace it once it is designed in",
    "gold": "[Cause] the complex nature of electromechanical systems in vehicles and industrial applications like motor drives [Relation] cause [Effect] it is prohibitively arduous to strip out a specific custom component and replace it once it is designed in",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, Juniper's products facilitate in the transfer of data, which may attract cybercriminals, and its solutions are tasked with protecting customers from cyberattacks, making data privacy and security a key concern.",
    "output": "[Cause] its solutions are tasked with protecting customers from cyberattacks [Relation] cause [Effect] making data privacy and security a key concern",
    "gold": "[Cause] its solutions are tasked with protecting customers from cyberattacks [Relation] cause [Effect] making data privacy and security a key concern",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although partnering with Farfetch reduces wholesaler margin through a hefty 30% third-party take, a retailer's existing inventory is made available to a wider audience than would be possible for a stand-alone boutique; Farfetch has over 1 million active consumers.",
    "output": "[Cause] partnering with Farfetch [Relation] enable [Effect] reduces wholesaler margin",
    "gold": "[Cause]  partnering with Farfetch [Relation] enable [Effect] reduces wholesaler margin",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although partnering with Farfetch reduces wholesaler margin through a hefty 30% third-party take, a retailer's existing inventory is made available to a wider audience than would be possible for a stand-alone boutique; Farfetch has over 1 million active consumers.",
    "output": "[Cause] Farfetch has over 1 million active consumers [Relation] enable [Effect] a retailer's existing inventory is made available to a wider audience",
    "gold": "[Cause] Farfetch has over 1 million active consumers [Relation] cause [Effect] a retailer's existing inventory is made available to a wider audience",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We incorporate a $3 deduction into our fair value estimate to reflect a 50% probability that the DAPL shuts down permanently due to political or legal opposition.",
    "output": "[Cause] political or legal opposition [Relation] cause [Effect] the DAPL shuts down permanently",
    "gold": "[Cause] a 50% probability that the DAPL shuts down permanently due to political or legal opposition [Relation] cause [Effect] We incorporate a $3 deduction into our fair value estimate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, comparable sales soften for KFC toward the back half of our forecast (falling to a terminal value of 2.5%) as international competition intensifies.",
    "output": "[Cause] international competition intensifies [Relation] cause [Effect] comparable sales soften for KFC toward the back half of our forecast",
    "gold": "[Cause] international competition intensifies [Relation] cause [Effect] comparable sales soften for KFC toward the back half of our forecast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We acknowledge that P&G's essential, trusted items are being propped up by the pandemic, given consumers' proclivity for personal and home cleaning and health-related fare.",
    "output": "[Cause] consumers' proclivity for personal and home cleaning and health-related fare [Relation] cause [Effect] P&G's essential, trusted items are being propped up by the pandemic",
    "gold": "[Cause]  consumers' proclivity for personal and home cleaning and health-related fare [Relation] cause [Effect]  P&G's essential, trusted items are being propped up by the pandemic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Corning can produce these high-quality glass substrates for a lower cost than its competition as a result of its centralized R&amp;D.",
    "output": "[Cause] its centralized R&amp;D [Relation] cause [Effect] Corning can produce these high-quality glass substrates for a lower cost than its competition",
    "gold": "[Cause] centralized R&amp;D. [Relation] cause [Effect]  Corning can produce these high-quality glass substrates for a lower cost than its competition",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The frequency and longevity with which BMW engines have appeared in the 10 Best lists demonstrate the company's ability to regularly innovate to maintain its leadership in automotive powertrain technology.",
    "output": "[Cause] The frequency and longevity with which BMW engines have appeared in the 10 Best lists [Relation] enable [Effect] the company's ability to regularly innovate",
    "gold": "[Cause] the company's ability to regularly innovate [Relation] enable [Effect] maintain its leadership in automotive powertrain technology",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The frequency and longevity with which BMW engines have appeared in the 10 Best lists demonstrate the company's ability to regularly innovate to maintain its leadership in automotive powertrain technology.",
    "output": "[Cause] The frequency and longevity with which BMW engines have appeared in the 10 Best lists [Relation] enable [Effect] maintain its leadership in automotive powertrain technology",
    "gold": "[Cause] the company's ability to regularly innovate [Relation] enable [Effect] The frequency and longevity with which BMW engines have appeared in the 10 Best lists",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A Huntington's disease partnership with Roche led to a phase 3 trial halt in March 2021 due to a risk/benefit imbalance, but a broad collaboration with Biogen (pivotal ALS data expected in 2021) drives the late-stage neurology pipeline.",
    "output": "[Cause] A Huntington's disease partnership with Roche [Relation] cause [Effect] a phase 3 trial halt in March 2021",
    "gold": "[Cause] a risk/benefit imbalance [Relation] cause [Effect] A Huntington's disease partnership with Roche led to a phase 3 trial halt",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, with the most recent amendment to AMD and Global Foundries wafer supply agreement, AMD is now free to utilize whichever foundry is most competitive at the 7-nm and beyond process nodes.",
    "output": "[Cause] the most recent amendment to AMD and Global Foundries wafer supply agreement [Relation] enable [Effect] AMD is now free to utilize whichever foundry is most competitive at the 7-nm and beyond process nodes",
    "gold": "[Cause]  the most recent amendment to AMD and Global Foundries wafer supply agreement [Relation] enable [Effect] AMD is now free to utilize whichever foundry is most competitive at the 7-nm and beyond process nodes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The growth of this category has benefited from consumers switching from high-fat proteins to leaner turkey, making this an important category for retailers.",
    "output": "[Cause] The growth of this category has benefited from consumers switching from high-fat proteins to leaner turkey [Relation] enable [Effect] making this an important category for retailers",
    "gold": "[Cause] consumers switching from high-fat proteins to leaner turkey [Relation] cause [Effect]  important category for retailers. | The growth of this category",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The percentage of people renting has increased in urban, coastal markets due to favorable demographic trends such as falling homeownership, rising relative cost of single-family housing, and urban gentrification, which has created more demand for multifamily assets.",
    "output": "[Cause] favorable demographic trends such as falling homeownership, rising relative cost of single-family housing, and urban gentrification, which has created more demand for multifamily assets [Relation] cause [Effect] The percentage of people renting has increased in urban, coastal markets",
    "gold": "[Cause] favorable demographic trends such as falling homeownership, rising relative cost of single-family housing, and urban gentrification, which has created more demand for multifamily assets [Relation] cause [Effect] The percentage of people renting has increased in urban, coastal markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's nonrig businesses Oil & Gas Equipment & Serviceshave room to grow as global oil and gas capital expenditures grow in coming years.",
    "output": "[Cause] global oil and gas capital expenditures grow in coming years [Relation] cause [Effect] The company's nonrig businesses Oil & Gas Equipment & Serviceshave room to grow",
    "gold": "[Cause] global oil and gas capital expenditures grow in coming years [Relation] enable [Effect] The company's nonrig businesses Oil & Gas Equipment & Serviceshave room to grow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With an extensive portfolio of brands under the corporate umbrella, we see PBkids as the natural brand extension--as the Pottery Barn and Williams-Sonoma consumers have children, the brand loyalty already exists to market to the next of kin.",
    "output": "[Cause] the Pottery Barn and Williams-Sonoma consumers have children [Relation] cause [Effect] the brand loyalty already exists to market to the next of kin",
    "gold": "[Cause] the Pottery Barn and Williams-Sonoma consumers have children, the brand loyalty already exists to market to the next of kin [Relation] cause [Effect] we see PBkids as the natural brand extension",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we think competition among these firms is generally rational, each company fiercely competes to build the most energy-efficient and eco-friendly climate control products Building Products & Equipmentto meet regulations and lower customer's operating costs.",
    "output": "[Cause] each company fiercely competes to build the most energy-efficient and eco-friendly climate control products Building Products & Equipment [Relation] enable [Effect] meet regulations and lower customer's operating costs",
    "gold": "[Cause] meet regulations and lower customer's operating costs [Relation] cause [Effect] each company fiercely competes to build the most energy-efficient and eco-friendly climate control products Building Products & Equipmentto",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we think competition among these firms is generally rational, each company fiercely competes to build the most energy-efficient and eco-friendly climate control products Building Products & Equipmentto meet regulations and lower customer's operating costs.",
    "output": "[Cause] each company fiercely competes to build the most energy-efficient and eco-friendly climate control products Building Products & Equipment [Relation] enable [Effect] meet regulations and lower customer's operating costs",
    "gold": "[Cause] each company fiercely competes to build the most energy-efficient and eco-friendly climate control products Building Products & Equipmentto [Relation] cause [Effect] competition among these firms is generally rational",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, as Zoetis has moved into biologic therapeutics for companion animals, we think the difficulty and cost involved with creating competitive biosimilars could limit competition there even after any patents have expired.",
    "output": "[Cause] Zoetis has moved into biologic therapeutics for companion animals [Relation] cause [Effect] the difficulty and cost involved with creating competitive biosimilars could limit competition there even after any patents have expired",
    "gold": "[Cause]  Zoetis has moved into biologic therapeutics for companion animals [Relation] cause [Effect] the difficulty and cost involved with creating competitive biosimilars could limit competition there even after any patents have expired",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we do think there is a valid strategic rationale for these deals, and the introduction of Worldpay's acquiring business should boost overall long-term growth, given the ongoing shift toward electronic payments.",
    "output": "[Cause] the introduction of Worldpay's acquiring business [Relation] enable [Effect] boost overall long-term growth",
    "gold": "[Cause] the introduction of Worldpay's acquiring business [Relation] enable [Effect] boost overall long-term growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Mint is offered for free, as Intuit makes money by allowing users to share data with lenders, which gives them access to possibly lower interest rates.",
    "output": "[Cause] Intuit makes money by allowing users to share data with lenders [Relation] cause [Effect] Mint is offered for free",
    "gold": "[Cause] Intuit makes money by allowing users to share data with lenders [Relation] cause [Effect] Mint is offered for free",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Mint is offered for free, as Intuit makes money by allowing users to share data with lenders, which gives them access to possibly lower interest rates.",
    "output": "[Cause] Mint is offered for free [Relation] enable [Effect] gives them access to possibly lower interest rates",
    "gold": "[Cause] allowing users to share data with lenders [Relation] enable [Effect]  lower interest rates",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We'd argue that data architectures might be even stickier than the enterprise software used to input and access this data, since the underlying data is even more fundamental and mission-critical to a business.",
    "output": "[Cause] the underlying data is even more fundamental and mission-critical to a business [Relation] cause [Effect] data architectures might be even stickier than the enterprise software used to input and access this data",
    "gold": "[Cause] the underlying data is even more fundamental and mission-critical to a business [Relation] cause [Effect] data architectures might be even stickier than the enterprise software used to input and access this data",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the importance of data quality and data integrity, we believe there is a high bar for customers to switch providers.",
    "output": "[Cause] the importance of data quality and data integrity [Relation] cause [Effect] there is a high bar for customers to switch providers",
    "gold": "[Cause]  the importance of data quality and data integrity [Relation] cause [Effect]  there is a high bar for customers to switch providers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Carrier Transicold has a long-standing reputation for dependability and continued innovation that helps customers lower operating costs and prevent costly damage claims.",
    "output": "[Cause] Carrier Transicold has a long-standing reputation for dependability and continued innovation [Relation] enable [Effect] helps customers lower operating costs and prevent costly damage claims",
    "gold": "[Cause] Carrier Transicold has a long-standing reputation for dependability and continued innovation [Relation] enable [Effect] helps customers lower operating costs and prevent costly damage claims",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It is conceivable that at a point in the distant future, diesel engines across the industry will reach a level of reliability and performance that make brand choice within a vehicle platform unimportant.",
    "output": "[Cause] diesel engines across the industry will reach a level of reliability and performance [Relation] cause [Effect] make brand choice within a vehicle platform unimportant",
    "gold": "[Cause] diesel engines across the industry will reach a level of reliability and performance [Relation] cause [Effect] make brand choice within a vehicle platform unimportant",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Efficient scale applies in this context because a new entrant would have no choice but to replicate UPS' sprawling asset base in the absence of economic package flow, yielding a long period of painful losses.",
    "output": "[Cause] a new entrant would have no choice but to replicate UPS' sprawling asset base in the absence of economic package flow [Relation] cause [Effect] yielding a long period of painful losses",
    "gold": "[Cause] a new entrant would have no choice but to replicate UPS' sprawling asset base in the absence of economic package flow [Relation] cause [Effect] yielding a long period of painful losses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fourth, Coupa is yet to generate GAAP profitability as the firm maintains high level of investments into the business.",
    "output": "[Cause] the firm maintains high level of investments into the business [Relation] cause [Effect] Coupa is yet to generate GAAP profitability",
    "gold": "[Cause] the firm maintains high level of investments into the business [Relation] cause [Effect] Coupa is yet to generate GAAP profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since the carriers have additional options with small cells (as opposed to with towers, where carriers must go to outside vendors to meet their critical needs), securing multiple carriers in many areas should be more difficult for Crown Castle.",
    "output": "[Cause] the carriers have additional options with small cells (as opposed to with towers, where carriers must go to outside vendors to meet their critical needs) [Relation] cause [Effect] securing multiple carriers in many areas should be more difficult for Crown Castle",
    "gold": "[Cause] the carriers have additional options with small cells (as opposed to with towers, where carriers must go to outside vendors to meet their critical needs) [Relation] cause [Effect] securing multiple carriers in many areas should be more difficult for Crown Castle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the long term, we expect Albemarle to generate healthy bromine profits due to its low-cost position in the Dead Sea.",
    "output": "[Cause] its low-cost position in the Dead Sea [Relation] cause [Effect] Albemarle to generate healthy bromine profits",
    "gold": "[Cause] its low-cost position in the Dead Sea [Relation] cause [Effect] Albemarle to generate healthy bromine profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our fair value estimate is $26 per share, driven by our expectations for global oil and gas exploration and development expenditures.",
    "output": "[Cause] our expectations for global oil and gas exploration and development expenditures [Relation] cause [Effect] Our fair value estimate is $26 per share",
    "gold": "[Cause] our expectations for global oil and gas exploration and development expenditures [Relation] cause [Effect] Our fair value estimate is $26 per share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its status as one of the largest financial institutions by both headcount and global reach means that the company has a competitive advantage derived from the personal networks of its employees and financial product distribution channels to garner transaction mandates.",
    "output": "[Cause] Its status as one of the largest financial institutions by both headcount and global reach [Relation] cause [Effect] the company has a competitive advantage derived from the personal networks of its employees and financial product distribution channels to garner transaction mandates",
    "gold": "[Cause] Its status as one of the largest financial institutions by both headcount and global reach [Relation] enable [Effect]  the company has a competitive advantage derived from the personal networks of its employees and financial product distribution channels to garner transaction mandates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While there are instances where this can be viewed as underinvestment, in this case we see it as indicative of a structurally more productive set of intangibles that necessitates less reinvestment. This is likely due in part to the inherent promotional synergies that its portfolio breadth begets (with strong brands across all three beverage alcohol segments).",
    "output": "[Cause] the inherent promotional synergies that its portfolio breadth begets (with strong brands across all three beverage alcohol segments) [Relation] cause [Effect] While there are instances where this can be viewed as underinvestment, in this case we see it as indicative of a structurally more productive set of intangibles that necessitates less reinvestment",
    "gold": "[Cause]  the inherent promotional synergies that its portfolio breadth begets (with strong brands across all three beverage alcohol segments) [Relation] cause [Effect] While there are instances where this can be viewed as underinvestment, in this case we see it as indicative of a structurally more productive set of intangibles that necessitates less reinvestment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that given the ease of integration with third parties such as benefits administrators, businesses would also hesitate to rip out these integrations and potentially face a loss of data transfer.",
    "output": "[Cause] the ease of integration with third parties such as benefits administrators [Relation] cause [Effect] businesses would also hesitate to rip out these integrations and potentially face a loss of data transfer",
    "gold": "[Cause]  given the ease of integration with third parties [Relation] cause [Effect]  face a loss of data transfer",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, the government's intention to create a fully deregulated market will also introduce more competition.",
    "output": "[Cause] the government's intention to create a fully deregulated market [Relation] cause [Effect] introduce more competition",
    "gold": "[Cause] the government's intention to create a fully deregulated market [Relation] cause [Effect]  introduce more competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although it has several approved products in its portfolio, high R&D expenses have prevented BioMarin from turning a significant profit.",
    "output": "[Cause] high R&D expenses [Relation] prevent [Effect] BioMarin from turning a significant profit",
    "gold": "[Cause] it has several approved products in its portfolio [Relation] prevent [Effect] high R&D expenses have prevented BioMarin from turning a significant profit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Recent divestments of low-margin/no-moat businesses that historically formed part of the mining division should raise the segment's profitability closer in line with its most direct competitor, Epiroc. This has helped contribute to Sandvik's current ROIC of 20%, well above its weighted average cost of capital of 8.9%.",
    "output": "[Cause] Recent divestments of low-margin/no-moat businesses that historically formed part of the mining division should raise the segment's profitability closer in line with its most direct competitor, Epiroc [Relation] enable [Effect] Sandvik's current ROIC of 20%, well above its weighted average cost of capital of 8.9%",
    "gold": "[Cause] Recent divestments of low-margin/no-moat businesses that historically formed part of the mining division should raise the segment's profitability closer in line with its most direct competitor, Epiroc [Relation] enable [Effect] Sandvik's current ROIC of 20%, well above its weighted average cost of capital of 8.9%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast Kors' segment operating margins will stabilize at 21.5% in the long-term, lower than historical levels, as store closings and sales of lower-margin apparel and footwear take a toll.",
    "output": "[Cause] store closings and sales of lower-margin apparel and footwear take a toll [Relation] cause [Effect] Kors' segment operating margins will stabilize at 21.5% in the long-term, lower than historical levels",
    "gold": "[Cause] store closings and sales of lower-margin apparel and footwear take a toll [Relation] cause [Effect] Kors' segment operating margins will stabilize at 21.5% in the long-term, lower than historical levels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Attempts to fill capacity by competing for existing contracts would prove challenging because staggered multiyear supply contracts reduce the volume of production open to competition in any given year.",
    "output": "[Cause] staggered multiyear supply contracts reduce the volume of production open to competition in any given year [Relation] cause [Effect] Attempts to fill capacity by competing for existing contracts would prove challenging",
    "gold": "[Cause] staggered multiyear supply contracts reduce the volume of production open to competition in any given year [Relation] cause [Effect] Attempts to fill capacity by competing for existing contracts would prove challenging",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm largely sat out the overhyped AWS-3 spectrum auction, for example, saving its resources to later acquire low-frequency licenses.",
    "output": "[Cause] The firm largely sat out the overhyped AWS-3 spectrum auction [Relation] enable [Effect] saving its resources to later acquire low-frequency licenses",
    "gold": "[Cause] The firm largely sat out the overhyped AWS-3 spectrum auction [Relation] enable [Effect] saving its resources to later acquire low-frequency licenses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast selling, general, and administrative expenses as a percentage of sales will remain around the 25%-26% level of the past few years as the company invests in marketing, e-commerce, and international expansion.",
    "output": "[Cause] the company invests in marketing, e-commerce, and international expansion [Relation] cause [Effect] selling, general, and administrative expenses as a percentage of sales will remain around the 25%-26% level of the past few years",
    "gold": "[Cause] the company invests in marketing, e-commerce, and international expansion [Relation] enable [Effect] selling, general, and administrative expenses as a percentage of sales will remain around the 25%-26% level of the past few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As China, Hong Kong, and Singapore are important pools of wealth and growing trade corridors, the bank's pivot toward Asia, which makes up about 75% of pretax profit, makes strategic sense.",
    "output": "[Cause] China, Hong Kong, and Singapore are important pools of wealth and growing trade corridors [Relation] cause [Effect] the bank's pivot toward Asia, which makes up about 75% of pretax profit, makes strategic sense",
    "gold": "[Cause] China, Hong Kong, and Singapore are important pools of wealth and growing trade corridors [Relation] cause [Effect] the bank's pivot toward Asia, which makes up about 75% of pretax profit, makes strategic sense",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "CME also benefits from intangible assets as a result of the company's 27% ownership stake in S&amp;P/Dow Jones Indices LLC.",
    "output": "[Cause] the company's 27% ownership stake in S&amp;P/Dow Jones Indices LLC [Relation] cause [Effect] CME also benefits from intangible assets",
    "gold": "[Cause] the company's 27% ownership stake in S&amp;P/Dow Jones Indices LLC [Relation] cause [Effect] CME also benefits from intangible assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Outside of the U.S., Discover has signed network agreements with national card networks in order to extend the acceptance of its cards internationally.",
    "output": "[Cause] Discover has signed network agreements with national card networks [Relation] enable [Effect] extend the acceptance of its cards internationally",
    "gold": "[Cause] extend the acceptance of its cards internationally [Relation] cause [Effect] Discover has signed network agreements with national card networks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think that Accenture derives excess returns from reputation as an intangible asset, as unlike traditional advertising projects, digital work means more uncertainty for the customer, so they might again turn to best-in-breed providers like Accenture.",
    "output": "[Cause] unlike traditional advertising projects, digital work means more uncertainty for the customer [Relation] cause [Effect] they might again turn to best-in-breed providers like Accenture",
    "gold": "[Cause]  unlike traditional advertising projects, digital work means more uncertainty for the customer [Relation] cause [Effect] they might again turn to best-in-breed providers like Accenture",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We model a strong launch of Padcev in relapsed bladder cancer, but longer term, we anticipate additional growth potential with label expansions to the front-line setting and to muscle-invasive bladder cancer.",
    "output": "[Cause] label expansions to the front-line setting and to muscle-invasive bladder cancer [Relation] enable [Effect] additional growth potential",
    "gold": "[Cause] label expansions to the front-line setting and to muscle-invasive bladder cancer [Relation] enable [Effect] additional growth potential",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Low-cost carriers and ultra-low-cost carriers have tendencies to enter markets and drive returns down for all participants because of an excess of supply for a somewhat fixed pool of demand.",
    "output": "[Cause] an excess of supply for a somewhat fixed pool of demand [Relation] cause [Effect] Low-cost carriers and ultra-low-cost carriers have tendencies to enter markets and drive returns down for all participants",
    "gold": "[Cause] an excess of supply for a somewhat fixed pool of demand [Relation] enable [Effect] Low-cost carriers and ultra-low-cost carriers have tendencies to enter markets and drive returns down for all participants",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the CBS broadcast network also provides ViacomCBS with an advantage, as the networks are the only outlets to reach almost all households in the United States.",
    "output": "[Cause] the networks are the only outlets to reach almost all households in the United States [Relation] cause [Effect] the CBS broadcast network also provides ViacomCBS with an advantage",
    "gold": "[Cause]  the networks are the only outlets to reach almost all households in the United States [Relation] cause [Effect] the CBS broadcast network also provides ViacomCBS with an advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These include a basic menu structure and assembly line for food preparation, which reduces employee training costs while still providing a convenient consumer experience (if executed properly).",
    "output": "[Cause] executed properly [Relation] enable [Effect] providing a convenient consumer experience",
    "gold": "[Cause] executed properly [Relation] enable [Effect] providing a convenient consumer experience",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even though individual parts like fuses and relays don't carry a hefty price tag, we think Littelfuse's application expertise helps the firm stave off commoditization and creates sticky customer relationships.",
    "output": "[Cause] Littelfuse's application expertise [Relation] enable [Effect] the firm stave off commoditization and creates sticky customer relationships",
    "gold": "[Cause]  Littelfuse's application expertise [Relation] enable [Effect] the firm stave off commoditization and creates sticky customer relationships",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Importantly, according to Parker representatives, about 85% of the revenue from these technologies has intellectual property protection, which we believe helps cement Parker's competitive position given the long product lifecycles and low reinvestment needs of this business.",
    "output": "[Cause] the long product lifecycles and low reinvestment needs of this business [Relation] cause [Effect] helps cement Parker's competitive position",
    "gold": "[Cause] Parker representatives, about 85% of the revenue from these technologies has intellectual property protection [Relation] enable [Effect] we believe helps cement Parker's competitive position given the long product lifecycles and low reinvestment needs of this business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "First, the company's software has strong machine-learning capabilities that constantly iterates on vast quantities of data to become more efficient at anomaly detection, incident response, and data analytics.",
    "output": "[Cause] the company's software has strong machine-learning capabilities [Relation] enable [Effect] constantly iterates on vast quantities of data to become more efficient at anomaly detection, incident response, and data analytics",
    "gold": "[Cause]  the company's software has strong machine-learning capabilities [Relation] enable [Effect]  constantly iterates on vast quantities of data to become more efficient at anomaly detection, incident response, and data analytics",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While not as strong as other Big Pharma firms, AbbVie's R&amp;D has created a database of intellectual insights that should help increase the odds of successful drug development.",
    "output": "[Cause] AbbVie's R&amp;D has created a database of intellectual insights [Relation] enable [Effect] increase the odds of successful drug development",
    "gold": "[Cause] AbbVie's R&amp;D has created a database of intellectual insights [Relation] cause [Effect] increase the odds of successful drug development",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that the relatively low non-interest expense is a function of the company's scale and concentration of deposits (nearly 90% of deposits are in M&amp;T's top 10 MSAs) since noninterest expenses do not scale with deposits.",
    "output": "[Cause] noninterest expenses do not scale with deposits [Relation] cause [Effect] the relatively low non-interest expense is a function of the company's scale and concentration of deposits",
    "gold": "[Cause] noninterest expenses do not scale with deposits [Relation] cause [Effect] the relatively low non-interest expense is a function of the company's scale and concentration of deposits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Constellation's wine/spirits business continues to be in flux, as management's desire to focus on higher margin, higher growth enclaves within these segments has led to a slew of asset sales over the past few years, including its entire Canadian wine business.",
    "output": "[Cause] management's desire to focus on higher margin, higher growth enclaves within these segments [Relation] cause [Effect] Constellation's wine/spirits business continues to be in flux",
    "gold": "[Cause] management's desire to focus on higher margin, higher growth enclaves within these segments [Relation] cause [Effect] Constellation's wine/spirits business continues to be in flux",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Constellation's wine/spirits business continues to be in flux, as management's desire to focus on higher margin, higher growth enclaves within these segments has led to a slew of asset sales over the past few years, including its entire Canadian wine business.",
    "output": "[Cause] management's desire to focus on higher margin, higher growth enclaves within these segments [Relation] cause [Effect] a slew of asset sales over the past few years, including its entire Canadian wine business",
    "gold": "[Cause] management's desire to focus on higher margin, higher growth enclaves within these segments [Relation] cause [Effect] a slew of asset sales over the past few years, including its entire Canadian wine business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, the category is shrinking as a percentage of overall grocery spend, which we believe also serves to lower the importance of the category for retailers.",
    "output": "[Cause] the category is shrinking as a percentage of overall grocery spend [Relation] cause [Effect] lower the importance of the category for retailers",
    "gold": "[Cause] a percentage of overall grocery spend [Relation] cause [Effect]  the category is shrinking",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Within its model for an extreme pandemic, Scor guide that this age factor, because life insurance policies are generally taken out during working age between ages of 35 to 69, Scor's mortality rate in a 1-in-200 year scenario should be revised down by a little under 0.15.",
    "output": "[Cause] life insurance policies are generally taken out during working age between ages of 35 to 69 [Relation] cause [Effect] Scor guide that this age factor",
    "gold": "[Cause] life insurance policies are generally taken out during working age between ages of 35 to 69 [Relation] cause [Effect] Scor guide that this age factor",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Within its model for an extreme pandemic, Scor guide that this age factor, because life insurance policies are generally taken out during working age between ages of 35 to 69, Scor's mortality rate in a 1-in-200 year scenario should be revised down by a little under 0.15.",
    "output": "[Cause] life insurance policies are generally taken out during working age between ages of 35 to 69 [Relation] cause [Effect] Scor's mortality rate in a 1-in-200 year scenario should be revised down by a little under 0.15",
    "gold": "[Cause] life insurance policies are generally taken out during working age between ages of 35 to 69 [Relation] cause [Effect] Scor's mortality rate in a 1-in-200 year scenario should be revised down by a little under 0.15",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "First, because carriers own and are responsible for the equipment they deploy at and on the towers, they bear the brunt of removing it when they leave a tower.",
    "output": "[Cause] carriers own and are responsible for the equipment they deploy at and on the towers [Relation] cause [Effect] they bear the brunt of removing it when they leave a tower",
    "gold": "[Cause]  carriers own and are responsible for the equipment they deploy at and on the towers [Relation] cause [Effect] they bear the brunt of removing it when they leave a tower",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Longer term, we think Experian's strategy to compete instead of partner with new entrants such as Credit Karma offers potential to capture more value in the area, even though this path may hamper growth in the near term.",
    "output": "[Cause] Experian's strategy to compete instead of partner with new entrants such as Credit Karma [Relation] enable [Effect] offers potential to capture more value in the area",
    "gold": "[Cause] Longer term, we think Experian's strategy to compete instead of partner [Relation] cause [Effect] offers potential to capture more value in the area",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Longer term, we think Experian's strategy to compete instead of partner with new entrants such as Credit Karma offers potential to capture more value in the area, even though this path may hamper growth in the near term.",
    "output": "[Cause] Experian's strategy to compete instead of partner with new entrants such as Credit Karma [Relation] enable [Effect] offers potential to capture more value in the area",
    "gold": "[Cause] Longer term, we think Experian's strategy to compete instead of partner [Relation] cause [Effect] may hamper growth in the near term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The most significant risk for HEI is the potential for significant regulatory pushback on any capital investments that increase rates even further.",
    "output": "[Cause] the potential for significant regulatory pushback on any capital investments that increase rates even further [Relation] cause [Effect] The most significant risk for HEI",
    "gold": "[Cause] any capital investments that increase rates even further [Relation] cause [Effect] significant regulatory pushback",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The proliferation of mobile devices has come at the expense of the mature PC market, Intel's historic stronghold, with ARM and its cohorts joining AMD as chief rivals.",
    "output": "[Cause] The proliferation of mobile devices has come at the expense of the mature PC market [Relation] cause [Effect] Intel's historic stronghold, with ARM and its cohorts joining AMD as chief rivals",
    "gold": "[Cause] the expense of the mature PC market [Relation] cause [Effect] The proliferation of mobile devices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We assume mid-30s percentage revenue growth in fiscal 2021 as Five Below laps store closures and the initial stages of the pandemic.",
    "output": "[Cause] Five Below laps store closures and the initial stages of the pandemic [Relation] cause [Effect] mid-30s percentage revenue growth in fiscal 2021",
    "gold": "[Cause] Five Below laps store closures and the initial stages of the pandemic [Relation] cause [Effect] mid-30s percentage revenue growth in fiscal 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Still, land and communities can underperform initial expectations for myriad reasons, resulting in potential margin dilution and impairment charges, even in a healthy housing market.",
    "output": "[Cause] myriad reasons [Relation] cause [Effect] land and communities can underperform initial expectations",
    "gold": "[Cause]  myriad reasons [Relation] cause [Effect]  land and communities can underperform initial expectations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Still, land and communities can underperform initial expectations for myriad reasons, resulting in potential margin dilution and impairment charges, even in a healthy housing market.",
    "output": "[Cause] land and communities can underperform initial expectations [Relation] cause [Effect] potential margin dilution and impairment charges",
    "gold": "[Cause]  land and communities can underperform initial expectations [Relation] cause [Effect] potential margin dilution and impairment charges",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The labor shortage has increased labor costs for homebuilders and can extend the length of time it takes to build a home.",
    "output": "[Cause] The labor shortage [Relation] cause [Effect] increased labor costs for homebuilders and can extend the length of time it takes to build a home",
    "gold": "[Cause] The labor shortage has increased labor costs for homebuilders [Relation] cause [Effect] extend the length of time it takes to build a home.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After the segment's adjusted EBITDA margin contracted in recent years while the firm expanded its network and integrated new businesses, we expect operating leverage to kick in, since incremental costs on leasing additional fiber are minimal.",
    "output": "[Cause] incremental costs on leasing additional fiber are minimal [Relation] cause [Effect] operating leverage to kick in",
    "gold": "[Cause]  incremental costs on leasing additional fiber are minimal [Relation] enable [Effect] operating leverage to kick in",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If established competitors or new entrants introduce better products or develop stronger relationships with customers, Agilent may lose market share as well as its ability to extract price increases in the future.",
    "output": "[Cause] established competitors or new entrants introduce better products or develop stronger relationships with customers [Relation] cause [Effect] Agilent may lose market share as well as its ability to extract price increases in the future",
    "gold": "[Cause] established competitors or new entrants introduce better products or develop stronger relationships with customers [Relation] cause [Effect]  Agilent may lose market share as well as its ability to extract price increases in the future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Royal took quick action to reduce operating expenses and capital expenditures as a result of COVID-19 (we forecast capital expenditures of $1.8 billion in 2020, down from $3 billion in 2019).",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] Royal took quick action to reduce operating expenses and capital expenditures",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] Royal took quick action to reduce operating expenses and capital expenditures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As its investments in inventory management technology and supply chain automation are invested across a broader pool of sales and stores, the firm's cost profile improves in a way that is difficult for smaller competitors to duplicate.",
    "output": "[Cause] its investments in inventory management technology and supply chain automation are invested across a broader pool of sales and stores [Relation] cause [Effect] the firm's cost profile improves in a way that is difficult for smaller competitors to duplicate",
    "gold": "[Cause] its investments in inventory management technology and supply chain automation are invested across a broader pool of sales and stores [Relation] cause [Effect] the firm's cost profile improves in a way that is difficult for smaller competitors to duplicate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Intesa offers the full range of investment products, from simple money market investments to retirement products, enabling the bank to retain clients for longer, as it can direct a client that wants to change its investment strategy to another of its own products.",
    "output": "[Cause] it can direct a client that wants to change its investment strategy to another of its own products [Relation] enable [Effect] the bank to retain clients for longer",
    "gold": "[Cause] Intesa offers the full range of investment products, from simple money market investments to retirement products [Relation] enable [Effect] the bank to retain clients for longer",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The Mexican government amended its constitution in 2013 and enacted new legislation in 2014 to overhaul telecom regulation in the country, resulting in the creation of a new regulatory body, the IFT.",
    "output": "[Cause] The Mexican government amended its constitution in 2013 and enacted new legislation in 2014 to overhaul telecom regulation in the country [Relation] cause [Effect] the creation of a new regulatory body, the IFT",
    "gold": "[Cause] The Mexican government amended its constitution in 2013 and enacted new legislation in 2014 to overhaul telecom regulation in the country [Relation] cause [Effect] in the creation of a new regulatory body",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because of this, timeliness in the design process and quickly scaling component manufacturing is a key element of maximizing a drug's profit years.",
    "output": "[Cause] timeliness in the design process and quickly scaling component manufacturing [Relation] enable [Effect] maximizing a drug's profit years",
    "gold": "[Cause]  timeliness in the design process and quickly scaling component manufacturing [Relation] enable [Effect] maximizing a drug's profit years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A large company could have 10,000 suppliers, for example. Therefore, replacing an intelligent platform solution would require significant resources to onboard 10,000 suppliers to the network compared with much more ease in adding, say, 20 suppliers to a network.",
    "output": "[Cause] A large company could have 10,000 suppliers, for example [Relation] cause [Effect] replacing an intelligent platform solution would require significant resources to onboard 10,000 suppliers to the network compared with much more ease in adding, say, 20 suppliers to a network",
    "gold": "[Cause] A large company could have 10,000 suppliers, for example [Relation] cause [Effect] replacing an intelligent platform solution would require significant resources to onboard 10,000 suppliers to the network compared with much more ease in adding, say, 20 suppliers to a network",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Several fines meted out to Swiss banks by global regulators for their part in tax avoidance schemes gave also dented the reputation of Swiss banks, this also led to the demise of the famed anonymous Swiss bank account.",
    "output": "[Cause] Several fines meted out to Swiss banks by global regulators for their part in tax avoidance schemes gave also dented the reputation of Swiss banks [Relation] cause [Effect] the demise of the famed anonymous Swiss bank account",
    "gold": "[Cause] Several fines meted out to Swiss banks by global regulators for their part in tax avoidance schemes gave also dented the reputation of Swiss banks [Relation] cause [Effect] the demise of the famed anonymous Swiss bank account",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, more social currency accrues to the typical individual as consumption skews to the higher end of the price spectrum.",
    "output": "[Cause] consumption skews to the higher end of the price spectrum [Relation] cause [Effect] more social currency accrues to the typical individual",
    "gold": "[Cause] consumption skews to the higher end of the price spectrum [Relation] cause [Effect] more social currency accrues to the typical individual",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The strength of the brand and hence substantial pricing power would be at risk if the company were to overproduce to the extent that the aura of exclusivity was lost.",
    "output": "[Cause] the company were to overproduce to the extent that the aura of exclusivity was lost [Relation] cause [Effect] The strength of the brand and hence substantial pricing power would be at risk",
    "gold": "[Cause]  overproduce to the extent that the aura of exclusivity was lost. [Relation] cause [Effect] The strength of the brand and hence substantial pricing power would be at risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "It has a good record of managing operational costs, and its presence in uncorrelated geographies creates a diversification benefit that reduces the volatility of credit.",
    "output": "[Cause] its presence in uncorrelated geographies creates a diversification benefit [Relation] enable [Effect] reduces the volatility of credit",
    "gold": "[Cause] its presence in uncorrelated geographies creates a diversification benefit [Relation] enable [Effect] reduces the volatility of credit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Ralph Lauren's North America wholesale revenue to remain below fiscal 2020's level over the next 10 years as the firm exits low-performing stores, but we think its retail sales will increase steadily on e-commerce and improved productivity of owned locations.",
    "output": "[Cause] the firm exits low-performing stores [Relation] cause [Effect] Ralph Lauren's North America wholesale revenue to remain below fiscal 2020's level over the next 10 years",
    "gold": "[Cause] e-commerce and improved productivity of owned locations [Relation] cause [Effect] its retail sales will increase steadily",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect Ralph Lauren's North America wholesale revenue to remain below fiscal 2020's level over the next 10 years as the firm exits low-performing stores, but we think its retail sales will increase steadily on e-commerce and improved productivity of owned locations.",
    "output": "[Cause] the firm exits low-performing stores [Relation] cause [Effect] Ralph Lauren's North America wholesale revenue to remain below fiscal 2020's level over the next 10 years",
    "gold": "[Cause]  the firm exits low-performing stores [Relation] cause [Effect] Ralph Lauren's North America wholesale revenue to remain below fiscal 2020's level over the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Most of the reduction came from underperforming full-price stores, as the number of factory outlet stores grew to 933 from 851 between 2014 and 2019.",
    "output": "[Cause] the number of factory outlet stores grew to 933 from 851 between 2014 and 2019 [Relation] cause [Effect] Most of the reduction came from underperforming full-price stores",
    "gold": "[Cause] the number of factory outlet stores grew to 933 from 851 between 2014 and 2019 [Relation] cause [Effect] Most of the reduction came from underperforming full-price stores",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Companies such as GM have also dramatically improved their car models, so we'd like to see Honda attain a more complete vehicle lineup.",
    "output": "[Cause] Companies such as GM have also dramatically improved their car models [Relation] cause [Effect] we'd like to see Honda attain a more complete vehicle lineup",
    "gold": "[Cause] Companies such as GM have also dramatically improved their car models [Relation] cause [Effect] we'd like to see Honda attain a more complete vehicle lineup",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its 2020 hosiery and underwear sales fell 14% as the Walmart private-label men's underwear deal could not overcome weakness elsewhere.",
    "output": "[Cause] the Walmart private-label men's underwear deal could not overcome weakness elsewhere [Relation] cause [Effect] Its 2020 hosiery and underwear sales fell 14%",
    "gold": "[Cause] the Walmart private-label men's underwear deal could not overcome weakness elsewhere [Relation] cause [Effect] Its 2020 hosiery and underwear sales fell 14%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Manufacturers are more willing to use Cummins' components, which offers product differentiation and enhances the value of their trucks, while also meeting regulatory requirements.",
    "output": "[Cause] Manufacturers are more willing to use Cummins' components [Relation] enable [Effect] offers product differentiation and enhances the value of their trucks, while also meeting regulatory requirements",
    "gold": "[Cause] offers product differentiation and enhances the value of their trucks, while also meeting regulatory requirements [Relation] cause [Effect] Manufacturers are more willing to use Cummins' components",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, if the underlying properties can't sustain the rent bumps throughout the lease term then eventually the leases will need to be broken and new, lower terms will be forced onto the landlord.",
    "output": "[Cause] the underlying properties can't sustain the rent bumps throughout the lease term [Relation] cause [Effect] the leases will need to be broken and new, lower terms will be forced onto the landlord",
    "gold": "[Cause] the underlying properties can't sustain the rent bumps throughout the lease term [Relation] cause [Effect] the leases will need to be broken and new, lower terms will be forced onto the landlord",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, our view is that operating margins can expand in the face of gross margin pressure, driven by operating leverage across administrative and selling expenses.",
    "output": "[Cause] gross margin pressure [Relation] cause [Effect] operating leverage across administrative and selling expenses",
    "gold": "[Cause] gross margin pressure [Relation] cause [Effect]  operating margins can expand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Moreover, our view is that operating margins can expand in the face of gross margin pressure, driven by operating leverage across administrative and selling expenses.",
    "output": "[Cause] operating leverage across administrative and selling expenses [Relation] cause [Effect] operating margins can expand",
    "gold": "[Cause] operating leverage across administrative and selling expenses [Relation] enable [Effect] gross margin pressure",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While Walmart undoubtedly drove a hard bargain, this deal has nonetheless granted Capital One new balances and volumes, and therefore new revenue streams.",
    "output": "[Cause] this deal has nevertheless granted Capital One new balances and volumes [Relation] cause [Effect] new revenue streams",
    "gold": "[Cause]  deal has nonetheless granted Capital One new balances and volumes [Relation] cause [Effect]  new revenue streams",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While in a lease program, MPS can actually save Xerox money--it doesn't have to stock as much supplies or service equipment as often--it could affect the extent of the next lease entered into.",
    "output": "[Cause] MPS can actually save Xerox money--it doesn't have to stock as much supplies or service equipment as often [Relation] cause [Effect] affect the extent of the next lease entered into",
    "gold": "[Cause]  much supplies or service equipment as often--it could affect the extent of the next lease entered into [Relation] cause [Effect]  MPS can actually save Xerox money--it doesn't have to stock",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the limited capital needs of the business, historical returns on invested capital have been higher than any reasonable estimate of the cost of capital.",
    "output": "[Cause] the limited capital needs of the business [Relation] cause [Effect] historical returns on invested capital have been higher than any reasonable estimate of the cost of capital",
    "gold": "[Cause]  the limited capital needs of the business [Relation] cause [Effect] historical returns on invested capital have been higher than any reasonable estimate of the cost of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the data is integrated into client technology systems and is available at a relatively small cost, there is little incentive for manufacturers to switch away from IHS Markit.",
    "output": "[Cause] the data is integrated into client technology systems and is available at a relatively small cost [Relation] cause [Effect] there is little incentive for manufacturers to switch away from IHS Markit",
    "gold": "[Cause]  the data is integrated into client technology systems and is available at a relatively small cost [Relation] cause [Effect]  there is little incentive for manufacturers to switch away from IHS Markit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The issue of data security came to the forefront with the well-publicized breach of peer Equifax in 2017.",
    "output": "[Cause] the well-publicized breach of peer Equifax in 2017 [Relation] cause [Effect] The issue of data security came to the forefront",
    "gold": "[Cause] the well-publicized breach of peer Equifax in 2017 [Relation] cause [Effect] The issue of data security came to the forefront",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the profitability front, we expect EBITDA margin to average 14.5% during the next three years, above the 11.8% achieved in the past three years mainly due to the impact of cost-cutting measures.",
    "output": "[Cause] the impact of cost-cutting measures [Relation] cause [Effect] EBITDA margin to average 14.5% during the next three years, above the 11.8% achieved in the past three years",
    "gold": "[Cause]  the impact of cost-cutting measures [Relation] cause [Effect] EBITDA margin to average 14.5% during the next three years, above the 11.8% achieved in the past three years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, the firm's exposure to potential environmental, social, and governance issues could further weaken its ability to earn economic profits.",
    "output": "[Cause] the firm's exposure to potential environmental, social, and governance issues [Relation] prevent [Effect] its ability to earn economic profits",
    "gold": "[Cause] the firm's exposure to potential environmental, social, and governance issues [Relation] prevent [Effect] its ability to earn economic profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, pricing for fund administration is often tiered, so incremental changes to asset levels don't affect them in a 1:1 ratio.",
    "output": "[Cause] pricing for fund administration is often tiered [Relation] cause [Effect] incremental changes to asset levels don't affect them in a 1:1 ratio",
    "gold": "[Cause] pricing for fund administration is often tiered [Relation] cause [Effect] incremental changes to asset levels don't affect them in a 1:1 ratio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since deal size is increasing, it is possible that a couple of large deals leaking into the next several quarters could cause a quarterly earnings miss.",
    "output": "[Cause] deal size is increasing [Relation] cause [Effect] a couple of large deals leaking into the next several quarters could cause a quarterly earnings miss",
    "gold": "[Cause]  deal size is increasing [Relation] cause [Effect]  a couple of large deals leaking into the next several quarters could cause a quarterly earnings miss",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Crown will ultimately monetize those assets to a greater degree than it is currently and generate excess returns on them, but we don't see it happening yet, and we expect it to take time. Consequently, the company has not outearned the 8% cost of capital that we estimate for it since 2013, and in our view, it will be challenged to generate excess returns in the near term.",
    "output": "[Cause] Crown will ultimately monetize those assets to a greater degree than it is currently and generate excess returns on them, but we don't see it happening yet, and we expect it to take time [Relation] cause [Effect] the company has not outearned the 8% cost of capital that we estimate for it since 2013, and in our view, it will be challenged to generate excess returns in the near term",
    "gold": "[Cause] Crown will ultimately monetize those assets to a greater degree than it is currently and generate excess returns on them, but we don't see it happening yet, and we expect it to take time [Relation] cause [Effect] the company has not outearned the 8% cost of capital that we estimate for it since 2013, and in our view, it will be challenged to generate excess returns in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "During our five-year explicit forecast period, we forecast Komatsu's revenue to increase at a compound annual growth rate of 0.6%. This is mainly driven by the decline in demand from China, Asia (excluding China and Japan), Africa and Commonwealth of Independent States, partly offset by growth from Oceania and Japan for its construction, mining, and utility equipment.",
    "output": "[Cause] the decline in demand from China, Asia (excluding China and Japan), Africa and Commonwealth of Independent States, partly offset by growth from Oceania and Japan for its construction, mining, and utility equipment [Relation] cause [Effect] Komatsu's revenue to increase at a compound annual growth rate of 0.6%",
    "gold": "[Cause] the decline in demand from China, Asia (excluding China and Japan), Africa and Commonwealth of Independent States, partly offset by growth from Oceania and Japan for its construction, mining, and utility equipment [Relation] enable [Effect] Komatsu's revenue to increase at a compound annual growth rate of 0.6%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, we expect upcoming developments that add attractions and improve Macao's accessibility will improve the destination's brand, supporting our constructive long-term view on Macao.",
    "output": "[Cause] upcoming developments that add attractions and improve Macao's accessibility [Relation] enable [Effect] improve the destination's brand, supporting our constructive long-term view on Macao",
    "gold": "[Cause] upcoming developments that add attractions and improve Macao's accessibility [Relation] enable [Effect] improve the destination's brand, supporting our constructive long-term view on Macao",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With new plants partially opening in Berlin, Texas, and the Model Y Shanghai plant all in 2021, we think 2021 deliveries of around one million units are not unrealistic.",
    "output": "[Cause] new plants partially opening in Berlin, Texas, and the Model Y Shanghai plant all in 2021 [Relation] cause [Effect] 2021 deliveries of around one million units are not unrealistic",
    "gold": "[Cause] new plants partially opening in Berlin, Texas, and the Model Y Shanghai plant all in 2021 [Relation] cause [Effect] 2021 deliveries of around one million units are not unrealistic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A solid Michigan economy due in large part to a strong manufacturing recovery and regulatory frameworks that are constructive for investors have resulted in solid earnings growth at DTE Energy's electric and gas utilities.",
    "output": "[Cause] A solid Michigan economy [Relation] cause [Effect] solid earnings growth at DTE Energy's electric and gas utilities",
    "gold": "[Cause] a strong manufacturing recovery and regulatory frameworks that are constructive for investors [Relation] cause [Effect] A solid Michigan economy",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A solid Michigan economy due in large part to a strong manufacturing recovery and regulatory frameworks that are constructive for investors have resulted in solid earnings growth at DTE Energy's electric and gas utilities.",
    "output": "[Cause] A solid Michigan economy [Relation] cause [Effect] solid earnings growth at DTE Energy's electric and gas utilities",
    "gold": "[Cause] A solid Michigan economy [Relation] enable [Effect] solid earnings growth at DTE Energy's electric and gas utilities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the eventual implementation of FirstNet and increased LTE adoption in the public safety market will be challenges for the firm, but we don't think these threats will rapidly disrupt Motorola's trajectory.",
    "output": "[Cause] the eventual implementation of FirstNet and increased LTE adoption in the public safety market [Relation] cause [Effect] challenges for the firm",
    "gold": "[Cause] the eventual implementation of FirstNet and increased LTE adoption in the public safety market [Relation] prevent [Effect] Motorola",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For instance, if a business decided to replace Paycom's payroll solution with that of a different vendor, there could be a disruption in payroll services to the firm's employees that could affect critical services such as salaries and taxes.",
    "output": "[Cause] a disruption in payroll services to the firm's employees [Relation] cause [Effect] affect critical services such as salaries and taxes",
    "gold": "[Cause] a business decided to replace Paycom's payroll solution with that of a different vendor [Relation] cause [Effect] a disruption in payroll services to the firm's employees that could affect critical services such as salaries and taxes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Switching to an alternative would slow down operations because employees would need to overcome the learning curve associated with adopting a new operations platform.",
    "output": "[Cause] employees would need to overcome the learning curve associated with adopting a new operations platform [Relation] cause [Effect] Switching to an alternative would slow down operations",
    "gold": "[Cause]  employees would need to overcome the learning curve associated with adopting a new operations platform [Relation] cause [Effect] Switching to an alternative would slow down operations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Glaxo's patent-protected drugs carry strong pricing power, which enables the firm to generate returns on invested capital in excess of its cost of capital.",
    "output": "[Cause] Glaxo's patent-protected drugs carry strong pricing power [Relation] enable [Effect] the firm to generate returns on invested capital in excess of its cost of capital",
    "gold": "[Cause] Glaxo's patent-protected drugs carry strong pricing power [Relation] enable [Effect] the firm to generate returns on invested capital in excess of its cost of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Pandemic-related costs and inefficiencies will persist in the near term, and XPO will continue investing in automation, but we expect adjusted EBITDA margin to improve 100 basis points to roughly 9.6% (with EBITDA of $1.85 billion) on leverage from volume growth, solid pricing conditions, and incremental IT-enabled productivity gains.",
    "output": "[Cause] volume growth, solid pricing conditions, and incremental IT-enabled productivity gains [Relation] enable [Effect] adjusted EBITDA margin to improve 100 basis points to roughly 9.6% (with EBITDA of $1.85 billion)",
    "gold": "[Cause]  volume growth, solid pricing conditions, and incremental IT-enabled productivity gains [Relation] cause [Effect]  we expect adjusted EBITDA margin to improve 100 basis points to roughly 9.6%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The three largest segments, legal, tax, and corporates, should be considered the core of the business moving forward, as news operates with razor-thin margins and print is in run-off.",
    "output": "[Cause] news operates with razor-thin margins and print is in run-off [Relation] cause [Effect] The three largest segments, legal, tax, and corporates, should be considered the core of the business moving forward",
    "gold": "[Cause] news operates with razor-thin margins and print is in run-off [Relation] cause [Effect] The three largest segments, legal, tax, and corporates, should be considered the core of the business moving forward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, these systems allow clients to input their own orders, freeing up about 50% of Sysco's salesforce's time so they can engage in more value-added activities, such as consultative selling to increase penetration of existing accounts or following leads to secure new business.",
    "output": "[Cause] these systems allow clients to input their own orders [Relation] enable [Effect] freeing up about 50% of Sysco's salesforce's time",
    "gold": "[Cause] these systems allow clients to input their own orders, freeing up about 50% of Sysco's salesforce's time [Relation] cause [Effect]  they can engage in more value-added activities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, these systems allow clients to input their own orders, freeing up about 50% of Sysco's salesforce's time so they can engage in more value-added activities, such as consultative selling to increase penetration of existing accounts or following leads to secure new business.",
    "output": "[Cause] these systems allow clients to input their own orders [Relation] enable [Effect] freeing up about 50% of Sysco's salesforce's time",
    "gold": "[Cause]  these systems allow clients to input their own orders [Relation] enable [Effect] freeing up about 50% of Sysco's salesforce's time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, these systems allow clients to input their own orders, freeing up about 50% of Sysco's salesforce's time so they can engage in more value-added activities, such as consultative selling to increase penetration of existing accounts or following leads to secure new business.",
    "output": "[Cause] these systems allow clients to input their own orders [Relation] enable [Effect] freeing up about 50% of Sysco's salesforce's time",
    "gold": "[Cause] consultative selling [Relation] enable [Effect] increase penetration of existing accounts",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, these systems allow clients to input their own orders, freeing up about 50% of Sysco's salesforce's time so they can engage in more value-added activities, such as consultative selling to increase penetration of existing accounts or following leads to secure new business.",
    "output": "[Cause] these systems allow clients to input their own orders [Relation] enable [Effect] freeing up about 50% of Sysco's salesforce's time",
    "gold": "[Cause]  following [Relation] enable [Effect] secure new business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe Blackbaud is deeply entrenched in the social-good community and expect its leadership to continue to drive the space forward over the long term as the company transitions from a perpetual license to a subscription model.",
    "output": "[Cause] the company transitions from a perpetual license to a subscription model [Relation] cause [Effect] its leadership to continue to drive the space forward over the long term",
    "gold": "[Cause] the company transitions from a perpetual license to a subscription model [Relation] cause [Effect] its leadership to continue to drive the space forward over the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the face of a global economic recession, Estee would likely experience decelerating or declining revenue as consumers use less product or trade down to competitors' lower-price alternatives.",
    "output": "[Cause] consumers use less product or trade down to competitors' lower-price alternatives [Relation] cause [Effect] Estee would likely experience decelerating or declining revenue",
    "gold": "[Cause] consumers use less product or trade down to competitors' lower-price alternatives [Relation] cause [Effect] Estee would likely experience decelerating or declining revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The WHO classifies red meat (beef, lamb, and pork) as a Group 2A carcinogen, meaning these foods probably cause cancer.",
    "output": "[Cause] The WHO classifies red meat (beef, lamb, and pork) as a Group 2A carcinogen [Relation] cause [Effect] these foods probably cause cancer",
    "gold": "[Cause] The WHO classifies red meat (beef, lamb, and pork) as a Group 2A carcinogen [Relation] enable [Effect] these foods probably cause cancer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the investment side, we assume improving fixed-income results over time as the interest rate environment improves, but we expect overall investment returns to moderate as the recent bull market proves unsustainable.",
    "output": "[Cause] the recent bull market proves unsustainable [Relation] cause [Effect] overall investment returns to moderate",
    "gold": "[Cause] the recent bull market proves unsustainable [Relation] cause [Effect] overall investment returns to moderate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we believe this is unlikely, and the company's recent success in open access (augmented by the 2021 acquisition of Hindawi) limits the chances of a material adverse outcome.",
    "output": "[Cause] the company's recent success in open access (augmented by the 2021 acquisition of Hindawi) [Relation] prevent [Effect] the chances of a material adverse outcome",
    "gold": "[Cause] the company's recent success in open access (augmented by the 2021 acquisition of Hindawi) [Relation] prevent [Effect] the chances of a material adverse outcome",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project revenue to decline by about 9% in 2020, as Rogers has been severely impacted by the COVID-19 pandemic, particularly caused by the cessation of international travel, and therefore roaming revenue, and store closures that weigh on wireless subscriber additions.",
    "output": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] Rogers has been severely impacted",
    "gold": "[Cause] Rogers has been severely impacted by the COVID-19 pandemic [Relation] cause [Effect] revenue to decline by about 9% in 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We project revenue to decline by about 9% in 2020, as Rogers has been severely impacted by the COVID-19 pandemic, particularly caused by the cessation of international travel, and therefore roaming revenue, and store closures that weigh on wireless subscriber additions.",
    "output": "[Cause] the cessation of international travel, and therefore roaming revenue, and store closures that weigh on wireless subscriber additions [Relation] cause [Effect] revenue to decline by about 9% in 2020",
    "gold": "[Cause] the cessation of international travel, and therefore roaming revenue, and store closures that weigh on wireless subscriber additions [Relation] cause [Effect] revenue to decline by about 9% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume a mix shift toward online sales will weigh on Scotts' pricing power and cause operating margins to contract to 23% by 2029 from 24% in fiscal 2020.",
    "output": "[Cause] a mix shift toward online sales [Relation] cause [Effect] weigh on Scotts' pricing power and cause operating margins to contract to 23% by 2029 from 24% in fiscal 2020",
    "gold": "[Cause] a mix shift toward online sales [Relation] cause [Effect] weigh on Scotts' pricing power and cause operating margins to contract to 23% by 2029 from 24% in fiscal 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Today, freight demand is strong largely due to solid consumer goods and e-commerce demand that started to tick up in the second half of 2020, following pandemic lows in the first half of the year.",
    "output": "[Cause] solid consumer goods and e-commerce demand that started to tick up in the second half of 2020, following pandemic lows in the first half of the year [Relation] cause [Effect] Today, freight demand is strong",
    "gold": "[Cause]  solid consumer goods and e-commerce demand that started to tick up in the second half of 2020 [Relation] cause [Effect] freight demand is strong largely",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Of note, in late 2019, former Canadian National CEO Claude Mongeau joined Norfolk's board of directors, and we expect he is bolstering the rail's PSR efforts, which should drive additional OR gains in the years ahead.",
    "output": "[Cause] he is bolstering the rail's PSR efforts [Relation] enable [Effect] drive additional OR gains in the years ahead",
    "gold": "[Cause] he is bolstering the rail's PSR efforts [Relation] enable [Effect] drive additional OR gains in the years ahead",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With expense synergies to be realized over the 18- to 36-month integration period and much of the revenue synergies tied to the gradual movement of client cash from Toronto-Dominion Bank to Charles Schwab, the combined firm may experience a prolonged earnings tailwind.",
    "output": "[Cause] expense synergies to be realized over the 18- to 36-month integration period and much of the revenue synergies tied to the gradual movement of client cash from Toronto-Dominion Bank to Charles Schwab [Relation] cause [Effect] the combined firm may experience a prolonged earnings tailwind",
    "gold": "[Cause] expense synergies to be realized over the 18- to 36-month integration period and much of the revenue synergies tied to the gradual movement of client cash from Toronto-Dominion Bank to Charles Schwab [Relation] cause [Effect] the combined firm may experience a prolonged earnings tailwind",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While compensation remains the single-largest expense for most asset managers, supplier power has been manageable, as many firms have reduced their reliance on star managers and have tied manager and analyst pay to both portfolio and overall firm performance.",
    "output": "[Cause] many firms have reduced their reliance on star managers and have tied manager and analyst pay to both portfolio and overall firm performance [Relation] cause [Effect] While compensation remains the single-largest expense for most asset managers, supplier power has been manageable",
    "gold": "[Cause] many firms have reduced their reliance on star managers and have tied manager and analyst pay to both portfolio and overall firm performance [Relation] cause [Effect] While compensation remains the single-largest expense for most asset managers, supplier power has been manageable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect revenue growth for Universal Music Group will average 8% as increased streaming sales offset the ongoing decline in digital media sales and the loss of most of the live-music related revenue in 2020 due to COVID-19.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] the loss of most of the live-music related revenue in 2020",
    "gold": "[Cause] increased streaming sales offset the ongoing decline in digital media sales and the loss of most of the live-music related revenue in 2020 due to COVID-19 [Relation] cause [Effect] revenue growth for Universal Music Group will average 8%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect revenue growth for Universal Music Group will average 8% as increased streaming sales offset the ongoing decline in digital media sales and the loss of most of the live-music related revenue in 2020 due to COVID-19.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] the loss of most of the live-music related revenue in 2020",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] the loss of most of the live-music related revenue in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While barges, ships, aircraft, and trucks also haul freight, railroads are by far the lowest-cost option when no waterway connects the origin and destination, especially for freight with low value per unit weight.",
    "output": "[Cause] no waterway connects the origin and destination, especially for freight with low value per unit weight [Relation] cause [Effect] railroads are by far the lowest-cost option",
    "gold": "[Cause] no waterway connects the origin and destination, especially for freight with low value per unit weight [Relation] cause [Effect] railroads are by far the lowest-cost option",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm remains dependent on the cable bundle to generate affiliate fee and ad revenue, so an acceleration of cord-cutting would hurt the firm.",
    "output": "[Cause] The firm remains dependent on the cable bundle to generate affiliate fee and ad revenue [Relation] cause [Effect] an acceleration of cord-cutting would hurt the firm",
    "gold": "[Cause] The firm remains dependent on the cable bundle to generate affiliate fee and ad revenue [Relation] cause [Effect] an acceleration of cord-cutting would hurt the firm",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company believes that its share of in-vehicle software will climb from 10% in 2020 to 60% for vehicles launched on the SSP architecture.",
    "output": "[Cause] vehicles launched on the SSP architecture [Relation] cause [Effect] its share of in-vehicle software will climb from 10% in 2020 to 60%",
    "gold": "[Cause] vehicles launched on the SSP architecture [Relation] cause [Effect]  its share of in-vehicle software will climb from 10% in 2020 to 60%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Booking is able to use its strong and sustainable cash flows to acquire and partner with attractive products and brands, which builds out the supply offering.",
    "output": "[Cause] its strong and sustainable cash flows to acquire and partner with attractive products and brands [Relation] enable [Effect] builds out the supply offering",
    "gold": "[Cause]  its strong and sustainable cash flows [Relation] enable [Effect] to acquire and partner with attractive products and brands",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With its higher leverage from the 2017 merger, we believe Syneos is at higher risk of being constrained with its capital allocation strategy in the near term.",
    "output": "[Cause] its higher leverage from the 2017 merger [Relation] cause [Effect] Syneos is at higher risk of being constrained with its capital allocation strategy in the near term",
    "gold": "[Cause] its higher leverage from the 2017 merger [Relation] cause [Effect] Syneos is at higher risk of being constrained with its capital allocation strategy in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because analog chips generally sell on the basis of reliability rather than cutting-edge performance, large analog chipmakers typically build their own manufacturing sites (fabs) with lagging-edge manufacturing processes and extract high returns from producing the same product over the course of decades without much additional development.",
    "output": "[Cause] analog chips generally sell on the basis of reliability rather than cutting-edge performance [Relation] cause [Effect] large analog chipmakers typically build their own manufacturing sites (fabs) with lagging-edge manufacturing processes and extract high returns from producing the same product over the course of decades without much additional development",
    "gold": "[Cause] analog chips generally sell on the basis of reliability rather than cutting-edge performance [Relation] cause [Effect]  large analog chipmakers typically build their own manufacturing sites (fabs) with lagging-edge manufacturing processes and extract high returns from producing the same product over the course of decades without much additional development",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Data centers are already implementing SSDs in data centers as complements to mass capacity HDDs, which achieves a healthy balance of speed and cost.",
    "output": "[Cause] Data centers are already implementing SSDs in data centers as complements to mass capacity HDDs [Relation] enable [Effect] achieves a healthy balance of speed and cost",
    "gold": "[Cause] Data centers are already implementing SSDs in data centers as complements to mass capacity HDDs [Relation] cause [Effect] achieves a healthy balance of speed and cost",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But frequent labor unrest and periodic calls for nationalization cast doubts over future profits and Anglo's rights to those profits.",
    "output": "[Cause] frequent labor unrest and periodic calls for nationalization [Relation] cause [Effect] cast doubts over future profits and Anglo's rights to those profits",
    "gold": "[Cause] frequent labor unrest and periodic calls for nationalization [Relation] enable [Effect] cast doubts over future profits and Anglo's rights to those profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, the firm's advertising business is already large and continues to scale, thus offering an attractive option for marketers looking to access a vast audience with a variety of proprietary data points about those very consumers.",
    "output": "[Cause] the firm's advertising business is already large and continues to scale [Relation] enable [Effect] offering an attractive option for marketers looking to access a vast audience with a variety of proprietary data points about those very consumers",
    "gold": "[Cause] the firm's advertising business is already large and continues to scale [Relation] cause [Effect] offering an attractive option for marketers looking to access a vast audience with a variety of proprietary data points about those very consumers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Walmart's display policies, packaging demands, and stocking requirements carry special weight as the firm is responsible for a large share of many leading manufacturers' sales (for example, 15% of the top line at Procter &amp; Gamble and 14% at PepsiCo).",
    "output": "[Cause] the firm is responsible for a large share of many leading manufacturers' sales [Relation] cause [Effect] Walmart's display policies, packaging demands, and stocking requirements carry special weight",
    "gold": "[Cause] the firm is responsible for a large share of many leading manufacturers' sales [Relation] cause [Effect] Walmart's display policies, packaging demands, and stocking requirements carry special weight",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While PVH may enhance gross margins through supply chain improvements, we think these cost savings may be partially offset by increasing competitive pressure on pricing and lower royalties (which have 100% profit margins).",
    "output": "[Cause] supply chain improvements [Relation] enable [Effect] PVH may enhance gross margins",
    "gold": "[Cause] supply chain improvements [Relation] enable [Effect] PVH may enhance gross margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Tyson is also facing litigation related to labor relations issues, which were exacerbated during the pandemic, but as the firm has proactively provided healthcare and other benefits and services for its workforce, we think these risks will prove immaterial.",
    "output": "[Cause] the firm has proactively provided healthcare and other benefits and services for its workforce [Relation] cause [Effect] these risks will prove immaterial",
    "gold": "[Cause] the firm has proactively provided healthcare and other benefits and services for its workforce [Relation] cause [Effect] these risks will prove immaterial",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "High market share with Creative Cloud over the past 25 years means that a significant portion of high-margin revenue is at risk, however slight that risk may be, if any competitors can make inroads with new or innovative software.",
    "output": "[Cause] High market share with Creative Cloud over the past 25 years [Relation] cause [Effect] a significant portion of high-margin revenue is at risk",
    "gold": "[Cause] new or innovative software [Relation] enable [Effect] make inroads",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expected Domino's to be one of the top market share recipients as the industry recovered from coronavirus-related disruptions, but its recent comp trends are ahead of industry averages and other delivery/to-go-focused concepts.",
    "output": "[Cause] the industry recovered from coronavirus-related disruptions [Relation] cause [Effect] Domino's to be one of the top market share recipients",
    "gold": "[Cause] the industry recovered from coronavirus-related disruptions [Relation] cause [Effect] Domino's to be one of the top market share recipients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the next five years, we project a compound annual growth rate for revenue of over 3%, including the TD Ameritrade merger that should lead to around a 20% increase in revenue in 2021.",
    "output": "[Cause] the TD Ameritrade merger [Relation] cause [Effect] around a 20% increase in revenue in 2021",
    "gold": "[Cause] the TD Ameritrade merger [Relation] cause [Effect] around a 20% increase in revenue in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the cereal category has been in secular decline, the firm diversified its revenue base by entering categories that were driving the legacy business' deterioration, such as eggs and protein-based nutritional products.",
    "output": "[Cause] the cereal category has been in secular decline [Relation] cause [Effect] the firm diversified its revenue base by entering categories that were driving the legacy business' deterioration",
    "gold": "[Cause]  the cereal category has been in secular decline [Relation] cause [Effect]  the firm diversified its revenue base by entering categories that were driving the legacy business' deterioration",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also believe significant barriers to entry prevent a disruption of this dynamic and the competitive positioning of the largest players in the industry.",
    "output": "[Cause] significant barriers to entry [Relation] prevent [Effect] a disruption of this dynamic and the competitive positioning of the largest players in the industry",
    "gold": "[Cause] significant barriers to entry [Relation] prevent [Effect] a disruption of this dynamic and the competitive positioning of the largest players in the industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the operating margin to stabilize at a higher rate than in the past, benefiting from more efficient production, including new manufacturing capacity and better supply chain flexibility (with engines and towers produced in-house).",
    "output": "[Cause] more efficient production, including new manufacturing capacity and better supply chain flexibility (with engines and towers produced in-house) [Relation] enable [Effect] the operating margin to stabilize at a higher rate than in the past",
    "gold": "[Cause] more efficient production, including new manufacturing capacity and better supply chain flexibility (with engines and towers produced in-house) [Relation] enable [Effect] the operating margin to stabilize at a higher rate than in the past",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe growth in content library and in viewers on YouTube will drive growth in Google online video ad revenue, a market that is expected to grow at a strong double-digit compound annual growth rate.",
    "output": "[Cause] growth in content library and in viewers on YouTube [Relation] enable [Effect] growth in Google online video ad revenue",
    "gold": "[Cause] growth in content library and in viewers on YouTube [Relation] cause [Effect] growth in Google online video ad revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Failure to invest in innovation, rising commodity costs, and substantial protracted declines in global vehicle production, such as the case in the current macroeconomic environment induced by COVID-19, present the biggest risk to our fair value estimate.",
    "output": "[Cause] Failure to invest in innovation, rising commodity costs, and substantial protracted declines in global vehicle production [Relation] cause [Effect] the biggest risk to our fair value estimate",
    "gold": "[Cause] Failure to invest in innovation, rising commodity costs, and substantial protracted declines in global vehicle production [Relation] enable [Effect] the biggest risk to our fair value estimate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In Northern Europe, we anticipate softer growth than Southern Europe as the economic slowdown and increased regulations in Germany will be headwinds to near-term growth with revenue slowing by 3.5%.",
    "output": "[Cause] the economic slowdown and increased regulations in Germany [Relation] prevent [Effect] near-term growth",
    "gold": "[Cause] the economic slowdown and increased regulations in Germany will be headwinds to near-term growth [Relation] cause [Effect] softer growth than Southern Europe",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "And Victoria's Secret could have to continue to drive in-store traffic with price and promotions after COVID-19 as consumer behavior around brick-and-mortar retailing shifts.",
    "output": "[Cause] consumer behavior around brick-and-mortar retailing shifts [Relation] cause [Effect] And Victoria's Secret could have to continue to drive in-store traffic with price and promotions after COVID-19",
    "gold": "[Cause] price and promotions [Relation] enable [Effect]  to drive in-store traffic",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, expansion of the company's diagnostic product sets through an expanding installed base and test menus for its QIAstat-Dx and NeuMoDX platforms should add to the firm's long-term growth trajectory.",
    "output": "[Cause] expansion of the company's diagnostic product sets through an expanding installed base and test menus for its QIAstat-Dx and NeuMoDX platforms [Relation] enable [Effect] add to the firm's long-term growth trajectory",
    "gold": "[Cause] an expanding installed base and test menus for its QIAstat-Dx and NeuMoDX platforms [Relation] enable [Effect] expansion of the company's diagnostic product sets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, expansion of the company's diagnostic product sets through an expanding installed base and test menus for its QIAstat-Dx and NeuMoDX platforms should add to the firm's long-term growth trajectory.",
    "output": "[Cause] expansion of the company's diagnostic product sets [Relation] enable [Effect] add to the firm's long-term growth trajectory",
    "gold": "[Cause] expansion of the company's diagnostic product sets [Relation] cause [Effect] add to the firm's long-term growth trajectory",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company operates in the cyclical, capital-intensive passenger car and heavy truck industries where raw material commodity costs can be volatile and unionized labor can be expensive.",
    "output": "[Cause] raw material commodity costs can be volatile and unionized labor can be expensive [Relation] cause [Effect] The company operates in the cyclical, capital-intensive passenger car and heavy truck industries",
    "gold": "[Cause] he company operates in the cyclical, capital-intensive passenger car and heavy truck industries [Relation] cause [Effect]  raw material commodity costs can be volatile and unionized labor can be expensive",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Having connectivity to all these payers and providers will be critical in creating value with incremental software tools bundled from the other two segments.",
    "output": "[Cause] Having connectivity to all these payers and providers [Relation] enable [Effect] creating value with incremental software tools bundled from the other two segments",
    "gold": "[Cause] Having connectivity to all these payers and providers [Relation] cause [Effect] creating value with incremental software tools bundled from the other two segments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Effective cost-cutting is likely to keep F&amp;D down, but more is probably needed for returns to improve in the current low-oil-price environment. As a result, the company's return on invested capital has declined to 4.0% in 2015, below its weighted average cost of capital of 10.1%.",
    "output": "[Cause] Effective cost-cutting is likely to keep F&amp;D down, but more is probably needed for returns to improve in the current low-oil-price environment [Relation] cause [Effect] the company's return on invested capital has declined to 4.0% in 2015, below its weighted average cost of capital of 10.1%",
    "gold": "[Cause] Effective cost-cutting is likely to keep F&amp;D down, but more is probably needed for returns to improve in the current low-oil-price environment [Relation] cause [Effect] the company's return on invested capital has declined to 4.0% in 2015, below its weighted average cost of capital of 10.1%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because TE's share of the overall bill of materials is relatively low, price isn't the driving consideration for a supplier or OEM; customers will prioritize cutting-edge technology and reliability, and pay a premium for them.",
    "output": "[Cause] TE's share of the overall bill of materials is relatively low [Relation] cause [Effect] price isn't the driving consideration for a supplier or OEM",
    "gold": "[Cause] TE's share of the overall bill of materials is relatively low [Relation] cause [Effect] price isn't the driving consideration for a supplier or OEM",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A much improved balance sheet, with net debt of just over USD 4 billion at end 2019, sees Anglo American on a strong financial footing.",
    "output": "[Cause] A much improved balance sheet, with net debt of just over USD 4 billion at end 2019 [Relation] enable [Effect] Anglo American on a strong financial footing",
    "gold": "[Cause] net debt of just over USD 4 billion at end 2019, sees Anglo American on a strong financial footing [Relation] enable [Effect] A much improved balance sheet",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These reductions are a critical driver of the improved portfolio as conventional production constitutes around 600 thousand barrels of oil equivalent per day, or about 40% of current production.",
    "output": "[Cause] conventional production constitutes around 600 thousand barrels of oil equivalent per day, or about 40% of current production [Relation] cause [Effect] These reductions are a critical driver of the improved portfolio",
    "gold": "[Cause] conventional production constitutes around 600 thousand barrels of oil equivalent per day, or about 40% of current production [Relation] cause [Effect] These reductions are a critical driver of the improved portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Tightening environmental compliance regulations could require significant capital investment or added operating costs that may have uncertain cost recovery through traditional regulated rates, particularly ash basin closure requirements in North Carolina.",
    "output": "[Cause] traditional regulated rates, particularly ash basin closure requirements in North Carolina [Relation] cause [Effect] uncertain cost recovery",
    "gold": "[Cause] significant capital investment or added operating costs [Relation] enable [Effect] Tightening environmental compliance regulations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given its M&A focus, we generally think the biggest risk to our JBT thesis lies in the firm's execution risk.",
    "output": "[Cause] its M&A focus [Relation] cause [Effect] the biggest risk to our JBT thesis lies in the firm's execution risk",
    "gold": "[Cause]  its M&A focus [Relation] cause [Effect] the biggest risk to our JBT thesis lies in the firm's execution risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As in past tightening cycles, the company's unmatched truckload capacity access has proved quite valuable over the past year given unusually tight capacity rooted in widespread ELD adoption (ELDs have tempered small truckers' productivity).",
    "output": "[Cause] unusually tight capacity rooted in widespread ELD adoption [Relation] cause [Effect] the company's unmatched truckload capacity access has proved quite valuable over the past year",
    "gold": "[Cause] unusually tight capacity rooted in widespread ELD adoption [Relation] cause [Effect] the company's unmatched truckload capacity access has proved quite valuable over the past year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Following impressive fourth-quarter results, we are raising our fair value estimate to CAD 353 per share from CAD 320 due largely to giving the rail more credit over the long run for superb margin execution and the impact of foreign exchange on our U.S.",
    "output": "[Cause] giving the rail more credit over the long run for superb margin execution and the impact of foreign exchange on our U.S [Relation] cause [Effect] raising our fair value estimate to CAD 353 per share from CAD 320",
    "gold": "[Cause] giving the rail more credit over the long run for superb margin execution and the impact of foreign exchange on our U.S [Relation] cause [Effect] raising our fair value estimate to CAD 353 per share from CAD 320",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, this does not preclude Lamb Weston from securing national accounts, as the largest global restaurant chains use two or three potato providers, carving out various geographies for each, in order to diversify sourcing.",
    "output": "[Cause] the largest global restaurant chains use two or three potato providers, carving out various geographies for each, in order to diversify sourcing [Relation] cause [Effect] this does not preclude Lamb Weston from securing national accounts",
    "gold": "[Cause] the largest global restaurant chains use two or three potato providers, carving out various geographies for each, in order to diversify sourcing [Relation] enable [Effect] this does not preclude Lamb Weston from securing national accounts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Perhaps a good comparison for adjacent network effects, where one strong network enables a firm to expand elsewhere, is Microsoft: Its dominant network around Windows allowed it to leverage its strength into the productivity software market with Microsoft Office.",
    "output": "[Cause] One strong network [Relation] enable [Effect] a firm to expand elsewhere",
    "gold": "[Cause]  Its dominant network around Windows [Relation] enable [Effect] leverage its strength into the productivity software market with Microsoft Office",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With a spike in telecommuting, AWS also stands to benefit from increased enterprise cloud computing, storage, networking/content delivery, mobile app, and digital security usage.",
    "output": "[Cause] a spike in telecommuting [Relation] cause [Effect] AWS also stands to benefit from increased enterprise cloud computing, storage, networking/content delivery, mobile app, and digital security usage",
    "gold": "[Cause] a spike in telecommuting [Relation] cause [Effect] AWS also stands to benefit from increased enterprise cloud computing, storage, networking/content delivery, mobile app, and digital security usage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Diversifying into so many areas increases the risk that management resources become spread too thin, allocation of capital resources may be less than optimal, and the firm becomes less effective at developing expertise in any one area.",
    "output": "[Cause] Diversifying into so many areas [Relation] cause [Effect] management resources become spread too thin",
    "gold": "[Cause] Diversifying into so many areas [Relation] cause [Effect] management resources become spread too thin",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Diversifying into so many areas increases the risk that management resources become spread too thin, allocation of capital resources may be less than optimal, and the firm becomes less effective at developing expertise in any one area.",
    "output": "[Cause] Diversifying into so many areas [Relation] cause [Effect] the firm becomes less effective at developing expertise in any one area",
    "gold": "[Cause] Diversifying into so many areas [Relation] cause [Effect] allocation of capital resources may be less than optimal",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Diversifying into so many areas increases the risk that management resources become spread too thin, allocation of capital resources may be less than optimal, and the firm becomes less effective at developing expertise in any one area.",
    "output": "[Cause] Diversifying into so many areas [Relation] cause [Effect] the firm becomes less effective at developing expertise in any one area",
    "gold": "[Cause] Diversifying into so many areas [Relation] cause [Effect] the firm becomes less effective at developing expertise in any one area",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Hubbell's products are a small cost of a utility's bill of materials and represent about 5% of its total purchases, Hubbell represents more than half of the SKUs needed to maintain and extend the grid, which consumes significant customer time and monetary resources.",
    "output": "[Cause] Hubbell represents more than half of the SKUs needed to maintain and extend the grid [Relation] cause [Effect] consumes significant customer time and monetary resources",
    "gold": "[Cause] Hubbell represents more than half of the SKUs needed to maintain and extend the grid [Relation] cause [Effect] consumes significant customer time and monetary resources",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the long-term threat of electrification, we think Donaldson will continue to pursue investments, both organic and through mergers and acquisitions, in its industrial segment to further diversify its business.",
    "output": "[Cause] the long-term threat of electrification [Relation] cause [Effect] Donaldson will continue to pursue investments, both organic and through mergers and acquisitions, in its industrial segment to further diversify its business",
    "gold": "[Cause] the long-term threat of electrification [Relation] enable [Effect] Donaldson will continue to pursue investments, both organic and through mergers and acquisitions, in its industrial segment to further diversify its business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the PlayStation 5 and a new Xbox launched in late 2020, we think the semi-custom business will generate strong growth in 2021.",
    "output": "[Cause] the PlayStation 5 and a new Xbox launched in late 2020 [Relation] cause [Effect] the semi-custom business will generate strong growth in 2021",
    "gold": "[Cause]  the PlayStation 5 and a new Xbox launched in late 2020 [Relation] enable [Effect] the semi-custom business will generate strong growth in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A critical assumption we're making is that American Airlines' mature frequent-flier program grows with capacity and the firm is able to materially improve its cost structure from the pandemic.",
    "output": "[Cause] capacity [Relation] enable [Effect] American Airlines' mature frequent-flier program grows",
    "gold": "[Cause] capacity [Relation] cause [Effect] American Airlines' mature frequent-flier program grows",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Yet its nonperforming loan book is still large enough to wipe out all the provisions for bad debts on its balance, as well as the bulk of its equity.",
    "output": "[Cause] its nonperforming loan book is still large enough [Relation] cause [Effect] wipe out all the provisions for bad debts on its balance, as well as the bulk of its equity",
    "gold": "[Cause] its nonperforming loan book is still large enough [Relation] cause [Effect] wipe out all the provisions for bad debts on its balance, as well as the bulk of its equity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The differentiated properties of Waters' tools affect the performance, accuracy, and speed of the various projects they enable, and differentiated product features create intangible assets that inform decisions to use those tools in specific applications, particularly at the beginning of a project.",
    "output": "[Cause] differentiated product features create intangible assets [Relation] enable [Effect] inform decisions to use those tools in specific applications",
    "gold": "[Cause] differentiated product features create intangible assets [Relation] enable [Effect] inform decisions to use those tools in specific applications",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company improved its technological prowess with the 2017 acquisition of Precision Planting, a company that creates solutions to improve seed placement.",
    "output": "[Cause] the 2017 acquisition of Precision Planting [Relation] enable [Effect] The company improved its technological prowess",
    "gold": "[Cause] the 2017 acquisition of Precision Planting [Relation] enable [Effect] The company improved its technological prowess",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Unless Sinclair lowers its asking price, Dish and its iconoclastic chairman, Charlie Ergen, is likely to refuse to revive the expired carriage contract this year and even beyond.",
    "output": "[Cause] Sinclair lowers its asking price [Relation] cause [Effect] Dish and its iconoclastic chairman, Charlie Ergen, is likely to refuse to revive the expired carriage contract this year and even beyond",
    "gold": "[Cause] lowers its asking price, Dish and its iconoclastic chairman [Relation] cause [Effect] revive the expired carriage contract this year and even beyond",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We project Beyond's revenue growth will decelerate to 39% in 2020, as the food-service channel (half of 2019 sales) contracts due to COVID-19.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] the food-service channel (half of 2019 sales) contracts",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect]  the food-service channel (half of 2019 sales) contracts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project Beyond's revenue growth will decelerate to 39% in 2020, as the food-service channel (half of 2019 sales) contracts due to COVID-19.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] the food-service channel (half of 2019 sales) contracts",
    "gold": "[Cause]  the food-service channel (half of 2019 sales) contracts [Relation] cause [Effect]  Beyond's revenue growth will decelerate to 39% in 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Commercial operation at Vogtle will allow Georgia Power to earn higher returns on its investment that have been reduced due to the delay and higher expected costs.",
    "output": "[Cause] Commercial operation at Vogtle [Relation] enable [Effect] Georgia Power to earn higher returns on its investment",
    "gold": "[Cause] due to the delay and higher expected costs [Relation] cause [Effect]  its investment that have been reduced",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our forecast has increases in charge-offs due to the downturn, however, with the extra reserves from 2020, we see provisioning trending back to normal.",
    "output": "[Cause] the downturn [Relation] cause [Effect] Our forecast has increases in charge-offs",
    "gold": "[Cause]  the downturn [Relation] cause [Effect] Our forecast has increases in charge-offs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast Toll Brothers to increase consolidated revenue at about a 5% 10-year compound annual growth rate as housing starts reach 1.6 million units by 2024.",
    "output": "[Cause] housing starts reach 1.6 million units by 2024 [Relation] cause [Effect] Toll Brothers to increase consolidated revenue at about a 5% 10-year compound annual growth rate",
    "gold": "[Cause] housing starts reach 1.6 million units by 2024 [Relation] enable [Effect] Toll Brothers to increase consolidated revenue at about a 5% 10-year compound annual growth rate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cost advantages stem from three primary factors--a low-cost deposit base, excellent operating efficiency, and conservative underwriting--with regulatory costs an additional consideration.",
    "output": "[Cause] a low-cost deposit base, excellent operating efficiency, and conservative underwriting--with regulatory costs an additional consideration [Relation] cause [Effect] Cost advantages",
    "gold": "[Cause] a low-cost deposit base, excellent operating efficiency, and conservative underwriting--with regulatory costs an additional consideration [Relation] enable [Effect] Cost advantages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By forcing its subsidiary into bankruptcy, O-I will now negotiate a settlement to finalize all current and future asbestos-related claims, similar to what companies like USG and Owens-Corning did in the past.",
    "output": "[Cause] forcing its subsidiary into bankruptcy [Relation] cause [Effect] O-I will now negotiate a settlement to finalize all current and future asbestos-related claims",
    "gold": "[Cause]  forcing its subsidiary into bankruptcy [Relation] enable [Effect] O-I will now negotiate a settlement to finalize all current and future asbestos-related claims",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the company had initially established itself as a leader in the market, the attractive economics and rising importance of cosmetic procedures has attracted a large number of competitors and has put the company on a defensive footing.",
    "output": "[Cause] the attractive economics and rising importance of cosmetic procedures [Relation] cause [Effect] attracted a large number of competitors",
    "gold": "[Cause]  the attractive economics and rising importance of cosmetic procedures [Relation] cause [Effect] attracted a large number of competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the company had initially established itself as a leader in the market, the attractive economics and rising importance of cosmetic procedures has attracted a large number of competitors and has put the company on a defensive footing.",
    "output": "[Cause] the attractive economics and rising importance of cosmetic procedures [Relation] cause [Effect] put the company on a defensive footing",
    "gold": "[Cause] attracted a large number of competitors [Relation] cause [Effect] put the company on a defensive footing",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Firms like Kroger have invested heavily in building in-house manufacturing capabilities to ensure product quality and responsiveness to customer trends, spending that is difficult for a smaller chain with less cost leverage to justify.",
    "output": "[Cause] Firms like Kroger have invested heavily in building in-house manufacturing capabilities [Relation] enable [Effect] ensure product quality and responsiveness to customer trends, spending that is difficult for a smaller chain with less cost leverage to justify",
    "gold": "[Cause] less cost leverage to justify [Relation] cause [Effect] spending that is difficult for a smaller chain",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We are raising our fair value estimate to $329 per share from $304 on recently generated cash flows and a strong outlook for 2021, especially on the cash flow front.",
    "output": "[Cause] recently generated cash flows and a strong outlook for 2021, especially on the cash flow front [Relation] cause [Effect] raising our fair value estimate to $329 per share from $304",
    "gold": "[Cause] recently generated cash flows and a strong outlook for 2021, especially on the cash flow front [Relation] cause [Effect] raising our fair value estimate to $329 per share from $304",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Zebra or its channel partners will help orient Zebra software to customers' exact business needs, and in some cases will help customers write new applications on top of Zebra's modified Android OS.",
    "output": "[Cause] Zebra or its channel partners [Relation] enable [Effect] help orient Zebra software to customers' exact business needs",
    "gold": "[Cause] orient Zebra software to customers' exact business needs [Relation] enable [Effect] customers write new applications on top of Zebra's modified Android OS",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Zebra or its channel partners will help orient Zebra software to customers' exact business needs, and in some cases will help customers write new applications on top of Zebra's modified Android OS.",
    "output": "[Cause] help orient Zebra software to customers' exact business needs [Relation] cause [Effect] help customers write new applications on top of Zebra's modified Android OS",
    "gold": "[Cause] Zebra or its channel partners [Relation] enable [Effect] orient Zebra software to customers' exact business needs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the uncertain extent and duration of COVID-19 and the pronounced retreat we've already seen in global travel demand, we estimate MGM's total 2020 revenue declining 59% (56% drop prior).",
    "output": "[Cause] the uncertain extent and duration of COVID-19 and the pronounced retreat we've already seen in global travel demand [Relation] cause [Effect] MGM's total 2020 revenue declining 59% (56% drop prior)",
    "gold": "[Cause]  the uncertain extent and duration of COVID-19 and the pronounced retreat we've already seen in global travel demand [Relation] cause [Effect] MGM's total 2020 revenue declining 59% (56% drop prior)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Getting additional Xifaxan indications approved will be a good litmus test for the research pipeline, as new approvals would extend patent-protection for the drug.",
    "output": "[Cause] new approvals would extend patent-protection for the drug [Relation] cause [Effect] Getting additional Xifaxan indications approved will be a good litmus test for the research pipeline",
    "gold": "[Cause] new approvals would extend patent-protection for the drug [Relation] cause [Effect] Getting additional Xifaxan indications approved will be a good litmus test for the research pipeline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the company to continue spending heavily on marketing in order to increase its brand presence and drive incremental growth.",
    "output": "[Cause] the company to continue spending heavily on marketing [Relation] enable [Effect] increase its brand presence and drive incremental growth",
    "gold": "[Cause] the company to continue spending heavily on marketing [Relation] enable [Effect] increase its brand presence and drive incremental growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Versus small or upstart competitors, Shaw's large scale enables it to spread overhead and marketing costs over a larger customer base.",
    "output": "[Cause] Shaw's large scale [Relation] enable [Effect] it to spread overhead and marketing costs over a larger customer base",
    "gold": "[Cause] Shaw's large scale [Relation] enable [Effect] it to spread overhead and marketing costs over a larger customer base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Kohl's is downsizing its stores to improve efficiency, but we do not expect this will drive sales or improve margins.",
    "output": "[Cause] Kohl's is downsizing its stores [Relation] enable [Effect] improve efficiency",
    "gold": "[Cause] Kohl's is downsizing its stores to improve efficiency [Relation] prevent [Effect]  drive sales or improve margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, due to pricing and some non-asset-based contracts, asset servicing fee growth will likely trail assets under custody growth.",
    "output": "[Cause] pricing and some non-asset-based contracts [Relation] cause [Effect] asset servicing fee growth will likely trail assets under custody growth",
    "gold": "[Cause]  pricing and some non-asset-based contracts [Relation] cause [Effect] asset servicing fee growth will likely trail assets under custody growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the current market-based approach has allowed for healthy regulatory balance over the years, the STB has occasionally considered using a revenue adequacy model to effectively cap rates.",
    "output": "[Cause] the current market-based approach [Relation] enable [Effect] allowed for healthy regulatory balance over the years",
    "gold": "[Cause] the current market-based approach [Relation] enable [Effect] allowed for healthy regulatory balance over the years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This is because weak macroeconomics (resulting in weaker demand and pricing for ads), a substantial increase in ad inventory by Bytedance and Tencent, moving customers' landing pages to Baidu's platform, and COVID-19 play an important role in the weakness of the past.",
    "output": "[Cause] weak macroeconomics (resulting in weaker demand and pricing for ads), a substantial increase in ad inventory by Bytedance and Tencent, moving customers' landing pages to Baidu's platform, and COVID-19 [Relation] cause [Effect] the weakness of the past",
    "gold": "[Cause] weak macroeconomics (resulting in weaker demand and pricing for ads) [Relation] cause [Effect] a substantial increase in ad inventory by Bytedance and Tencent",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Scotts is pursuing a volume-over-price strategy by offering discounts on its Hawthorne equipment in order to gain market share in the hydroponics industry.",
    "output": "[Cause] Scotts is pursuing a volume-over-price strategy by offering discounts on its Hawthorne equipment [Relation] enable [Effect] gain market share in the hydroponics industry",
    "gold": "[Cause] Scotts is pursuing a volume-over-price strategy by offering discounts on its Hawthorne equipment [Relation] enable [Effect] gain market share in the hydroponics industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we believe that it is extremely difficult to develop brand equity with agricultural commodities, as they are essentially undifferentiated from competitive products, and therefore difficult to maintain a price premium.",
    "output": "[Cause] they are essentially undifferentiated from competitive products [Relation] cause [Effect] difficult to maintain a price premium",
    "gold": "[Cause] they are essentially undifferentiated from competitive products, and therefore difficult to maintain a price premium [Relation] cause [Effect]  we believe that it is extremely difficult to develop brand equity with agricultural commodities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, while it's cheaper in the short-term for firms to operate a run-to-failure strategy, over the long run, plant facilities that fail to implement preventative maintenance end up spending more.",
    "output": "[Cause] it's cheaper in the short-term for firms to operate a run-to-failureure strategy [Relation] cause [Effect] over the long run",
    "gold": "[Cause] firms to operate a run-to-failure strategy [Relation] cause [Effect] it's cheaper in the short-term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, while it's cheaper in the short-term for firms to operate a run-to-failure strategy, over the long run, plant facilities that fail to implement preventative maintenance end up spending more.",
    "output": "[Cause] plant facilities that fail to implement preventative maintenance [Relation] cause [Effect] spending more",
    "gold": "[Cause] plant facilities that fail to implement preventative maintenance [Relation] cause [Effect] spending more",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our pretax cost of debt assumption is 5.8% as we incorporate a normalized long-term real rate environment and normalized credit spreads.",
    "output": "[Cause] we incorporate a normalized long-term real rate environment and normalized credit spreads [Relation] cause [Effect] Our pretax cost of debt assumption is 5.8%",
    "gold": "[Cause] we incorporate a normalized long-term real rate environment and normalized credit spreads [Relation] enable [Effect] Our pretax cost of debt assumption is 5.8%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Receiving contracts from the TSA gives Smiths cachet worldwide, securing its place as a major global provider of airport security systems.",
    "output": "[Cause] Receiving contracts from the TSA gives Smiths cachet worldwide [Relation] enable [Effect] securing its place as a major global provider of airport security systems",
    "gold": "[Cause] Receiving contracts from the TSA gives Smiths cachet worldwide [Relation] cause [Effect] securing its place as a major global provider of airport security systems",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect that a large-scale move by manufacturers in favor of direct shipping is unlikely, due to the infrastructure required, end customers' price inelasticity, and the convenience associated with repair shops ordering parts made by multiple brands from one source.",
    "output": "[Cause] the infrastructure required, end customers' price inelasticity, and the convenience associated with repair shops ordering parts made by multiple brands from one source [Relation] cause [Effect] a large-scale move by manufacturers in favor of direct shipping is unlikely",
    "gold": "[Cause]  the infrastructure required, end customers' price inelasticity, and the convenience associated with repair shops ordering parts made by multiple brands from one source [Relation] cause [Effect] a large-scale move by manufacturers in favor of direct shipping is unlikely",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the past decade, RELX has undergone wholesale changes to the structure of the company, taking its exposure to electronic-format businesses from 35% to closer to 90%. This change was achieved primarily through a series of targeted acquisitions and disposals, such as that of data aggregator ChoicePoint in early 2008, which subsequently burdened the company with significant debt-service costs.",
    "output": "[Cause] a series of targeted acquisitions and disposals, such as that of data aggregator ChoicePoint in early 2008, which subsequently burdened the company with significant debt-service costs [Relation] cause [Effect] Over the past decade, RELX has undergone wholesale changes to the structure of the company, taking its exposure to electronic-format businesses from 35% to closer to 90%",
    "gold": "[Cause]  a series of targeted acquisitions and disposals, such as that of data aggregator ChoicePoint in early 2008, which subsequently burdened the company with significant debt-service costs [Relation] enable [Effect] Over the past decade, RELX has undergone wholesale changes to the structure of the company, taking its exposure to electronic-format businesses from 35% to closer to 90%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Conversely, Boston Beer has historically operated at close to full capacity (especially during peak seasonal periods), and with the rise of the hard seltzer category and its Truly brand, has no excess capacity to speak of.",
    "output": "[Cause] the rise of the hard seltzer category and its Truly brand [Relation] cause [Effect] has no excess capacity to speak of",
    "gold": "[Cause] the rise of the hard seltzer category and its Truly brand [Relation] cause [Effect] has no excess capacity to speak of",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect AWS-like margins will probably take at least five years due to ongoing customer acquisition efforts and technology investments, as well as potential competition from Tencent's cloud service offerings.",
    "output": "[Cause] ongoing customer acquisition efforts and technology investments, as well as potential competition from Tencent's cloud service offerings [Relation] cause [Effect] AWS-like margins will probably take at least five years",
    "gold": "[Cause] ongoing customer acquisition efforts and technology investments, as well as potential competition from Tencent's cloud service offerings [Relation] cause [Effect] AWS-like margins will probably take at least five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With public payers in developed markets under financial stress, the orthopedic implant makers may find themselves on the end of unilateral price cuts in the future.",
    "output": "[Cause] public payers in developed markets under financial stress [Relation] cause [Effect] the orthopedic implant makers may find themselves on the end of unilateral price cuts in the future",
    "gold": "[Cause] public payers in developed markets under financial stress [Relation] cause [Effect] the orthopedic implant makers may find themselves on the end of unilateral price cuts in the future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, the ability to monetize this platform may be somewhat limited, as Square does not charge for person-to-person payments and only benefits when consumers use the funds within their Cash App account at merchants or pay a fee for instant access to funds.",
    "output": "[Cause] Square does not charge for person-to-person payments [Relation] cause [Effect] the ability to monetize this platform may be somewhat limited",
    "gold": "[Cause] Square does not charge for person-to-person payments [Relation] cause [Effect] the ability to monetize this platform may be somewhat limited",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, the ability to monetize this platform may be somewhat limited, as Square does not charge for person-to-person payments and only benefits when consumers use the funds within their Cash App account at merchants or pay a fee for instant access to funds.",
    "output": "[Cause] consumers use the funds within their Cash App account at merchants or pay a fee for instant access to funds [Relation] cause [Effect] only benefits",
    "gold": "[Cause] consumers use the funds within their Cash App account at merchants or pay a fee for instant access to funds [Relation] cause [Effect] only benefits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In an age where consumers have grown accustomed to shopping on Amazon, this experience is essential and can even offer competitive advantages, such as the ability to return items purchased online to a physical store.",
    "output": "[Cause] consumers have grown accustomed to shopping on Amazon [Relation] cause [Effect] this experience is essential and can even offer competitive advantages, such as the ability to return items purchased online to a physical store",
    "gold": "[Cause] this experience is essential [Relation] enable [Effect] can even offer competitive advantages, such as the ability to return items purchased online to a physical store",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect TIM will continue to gradually lose market share in the coming years but that average revenue per customer will also increase as the customer base shifts toward the postpaid.",
    "output": "[Cause] the customer base shifts toward the postpaid [Relation] cause [Effect] average revenue per customer will also increase",
    "gold": "[Cause] the customer base shifts toward the postpaid [Relation] cause [Effect] average revenue per customer will also increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Constellation's trademarks have broad appeal, it is not immune to the fact that any procedure or policy not consistent with the prevailing ethos gives rise to the possibility that a company's business model could be disrupted.",
    "output": "[Cause] any procedure or policy not consistent with the prevailing ethos [Relation] cause [Effect] the possibility that a company's business model could be disrupted",
    "gold": "[Cause] any procedure or policy not consistent with the prevailing ethos [Relation] cause [Effect] the possibility that a company's business model could be disrupted",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our discounted cash flow valuation, we assume an 11% cost of equity, higher than our 9% assumed market cost of equity because of First Solar's higher business risk.",
    "output": "[Cause] First Solar's higher business risk [Relation] cause [Effect] In our discounted cash flow valuation, we assume an 11% cost of equity, higher than our 9% assumed market cost of equity",
    "gold": "[Cause] First Solar's higher business risk [Relation] cause [Effect] In our discounted cash flow valuation, we assume an 11% cost of equity, higher than our 9% assumed market cost of equity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The commercial vehicles business faces challenges, but its partnership with Nikola could turn things around if the two companies can bring to market zero-emission vehicles.",
    "output": "[Cause] the two companies can bring to market zero-emission vehicles [Relation] enable [Effect] its partnership with Nikola could turn things around",
    "gold": "[Cause]  its partnership with Nikola could turn things around if the two companies [Relation] enable [Effect] bring to market zero-emission vehicles",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While airlines are highly cyclical, they are also reluctant to renege on orders because of large down payments on aircraft.",
    "output": "[Cause] large down payments on aircraft [Relation] cause [Effect] they are also reluctant to renege on orders",
    "gold": "[Cause]  large down payments on aircraft [Relation] cause [Effect]  they are also reluctant to renege on orders",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect adjusted EPS to normalize over our forecast period, as the company is likely to face substantial declines in diagnostics revenue in 2022 when the vaccine becomes more widely available worldwide.",
    "output": "[Cause] the vaccine becomes more widely available worldwide [Relation] cause [Effect] the company is likely to face substantial declines in diagnostics revenue in 2022",
    "gold": "[Cause] the vaccine becomes more widely available worldwide [Relation] enable [Effect] the company is likely to face substantial declines in diagnostics revenue in 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect adjusted EPS to normalize over our forecast period, as the company is likely to face substantial declines in diagnostics revenue in 2022 when the vaccine becomes more widely available worldwide.",
    "output": "[Cause] the vaccine becomes more widely available worldwide [Relation] cause [Effect] the company is likely to face substantial declines in diagnostics revenue in 2022",
    "gold": "[Cause] the company is likely to face substantial declines in diagnostics revenue in 2022 [Relation] cause [Effect] adjusted EPS to normalize over our forecast period",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In 2019, MSCI signed a 10-year agreement with BlackRock that does include some pricing concessions, but we believe the 10-year horizon should solidify the relationship between MSCI and BlackRock.",
    "output": "[Cause] the 10-year horizon [Relation] enable [Effect] solidify the relationship between MSCI and BlackRock",
    "gold": "[Cause] solidify the relationship between MSCI and BlackRock [Relation] prevent [Effect] some pricing concessions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Republic Service's predictable recurring revenue streams and its strong competitive positioning allow the firm to generate strong and stable free cash flow.",
    "output": "[Cause] Republic Service's predictable recurring revenue streams and its strong competitive positioning [Relation] enable [Effect] the firm to generate strong and stable free cash flow",
    "gold": "[Cause] Republic Service's predictable recurring revenue streams and its strong competitive positioning [Relation] enable [Effect] the firm to generate strong and stable free cash flow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We give AMN a high uncertainty rating to reflect its exposure to variance in the larger labor market that can push wages substantially higher in the course of an economic cycle and its exposure to uncertain COVID-19-related demand fluctuations, which can exacerbate this dynamic.",
    "output": "[Cause] its exposure to variance in the larger labor market [Relation] cause [Effect] We give AMN a high uncertainty rating",
    "gold": "[Cause] a high uncertainty rating [Relation] cause [Effect] its exposure to variance in the larger labor market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We give AMN a high uncertainty rating to reflect its exposure to variance in the larger labor market that can push wages substantially higher in the course of an economic cycle and its exposure to uncertain COVID-19-related demand fluctuations, which can exacerbate this dynamic.",
    "output": "[Cause] its exposure to variance in the larger labor market [Relation] cause [Effect] push wages substantially higher in the course of an economic cycle",
    "gold": "[Cause]  its exposure to uncertain COVID-19-related demand fluctuations [Relation] enable [Effect] exacerbate this dynamic",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We give AMN a high uncertainty rating to reflect its exposure to variance in the larger labor market that can push wages substantially higher in the course of an economic cycle and its exposure to uncertain COVID-19-related demand fluctuations, which can exacerbate this dynamic.",
    "output": "[Cause] its exposure to variance in the larger labor market [Relation] cause [Effect] push wages substantially higher in the course of an economic cycle",
    "gold": "[Cause] its exposure to variance in the larger labor market [Relation] enable [Effect] push wages substantially higher in the course of an economic cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although Missouri regulation has improved in the past few years, we continue to believe regulatory frameworks in the Show-Me state and Kansas remain average- to below-average. Thus, we think it will be difficult to execute and receive favorable regulatory treatment on the STP investments with respect to returns on investment and Evergy's proposed timeline.",
    "output": "[Cause] Although Missouri regulation has improved in the past few years, we continue to believe regulatory frameworks in the Show-Me state and Kansas remain average- to below-average [Relation] cause [Effect] it will be difficult to execute and receive favorable regulatory treatment on the STP investments with respect to returns on investment and Evergy's proposed timeline",
    "gold": "[Cause] Although Missouri regulation has improved in the past few years, we continue to believe regulatory frameworks in the Show-Me state and Kansas remain average- to below-average [Relation] cause [Effect] it will be difficult to execute and receive favorable regulatory treatment on the STP investments with respect to returns on investment and Evergy's proposed timeline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Comcast will increase investment in this content, absorbing margin pressure that Sky might not have been willing to take as a stand-alone firm.",
    "output": "[Cause] Comcast will increase investment in this content [Relation] cause [Effect] absorbing margin pressure that Sky might not have been willing to take as a stand-alone firm",
    "gold": "[Cause] absorbing margin pressure that Sky might not have been willing to take as a stand-alone firm [Relation] cause [Effect] Comcast will increase investment in this content",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "COVID-19 disruption will temper freight demand in 2020, but Robinson's industry-leading network of asset-based truckload carriers (most small) should remain highly valuable to shippers over the long run.",
    "output": "[Cause] COVID-19 disruption [Relation] prevent [Effect] freight demand in 2020",
    "gold": "[Cause] Robinson's industry-leading network of asset-based truckload carriers (most small) [Relation] cause [Effect] highly valuable to shippers over the long run",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "COVID-19 disruption will temper freight demand in 2020, but Robinson's industry-leading network of asset-based truckload carriers (most small) should remain highly valuable to shippers over the long run.",
    "output": "[Cause] Robinson's industry-leading network of asset-based truckload carriers (most small) [Relation] enable [Effect] remain highly valuable to shippers over the long run",
    "gold": "[Cause] COVID-19 disruption [Relation] prevent [Effect] freight demand in 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To meet and exceed service level agreements, VeriSign runs secure data centers with high-speed servers able to support over 215 billion daily queries (as of December 2020) while providing 24-hour network operations and call center support.",
    "output": "[Cause] VeriSign runs secure data centers with high-speed servers [Relation] enable [Effect] support over 215 billion daily queries (as of December 2020) while providing 24-hour network operations and call center support",
    "gold": "[Cause] VeriSign runs secure data centers with high-speed servers [Relation] enable [Effect] To meet and exceed service level agreements",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, these high affiliate fees along with the relatively low viewership of RSNs in comparison with other channels have led some distributors to question the price and placement of RSNs on the standard basic cable tier.",
    "output": "[Cause] these high affiliate fees along with the relatively low viewership of RSNs in comparison with other channels [Relation] cause [Effect] some distributors to question the price and placement of RSNs on the standard basic cable tier",
    "gold": "[Cause] these high affiliate fees along with the relatively low viewership of RSNs in comparison with other channels [Relation] cause [Effect] some distributors to question the price and placement of RSNs on the standard basic cable tier",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Credit growth will be higher in Latin America than in Europe, which positions Santander on a different growth path to most other European banks.",
    "output": "[Cause] Credit growth will be higher in Latin America than in Europe [Relation] enable [Effect] positions Santander on a different growth path to most other European banks",
    "gold": "[Cause] Credit growth will be higher in Latin America than in Europe [Relation] cause [Effect]  positions Santander on a different growth path to most other European banks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Robust ROICs should be supported not only by a stockpile of ideas for movie tie-ins that will provide free product advertising for Hasbro's goods but also by brand enthusiasts, leading to average adjusted ROICs including goodwill of 13% through 2024.",
    "output": "[Cause] Robust ROICs should be supported not only by a stockpile of ideas for movie tie-ins that will provide free product advertising for Hasbro's goods but also by brand enthusiasts [Relation] cause [Effect] average adjusted ROICs including goodwill of 13% through 2024",
    "gold": "[Cause] Robust ROICs should be supported not only by a stockpile of ideas for movie tie-ins that will provide free product advertising for Hasbro's goods but also by brand enthusiasts [Relation] enable [Effect] average adjusted ROICs including goodwill of 13% through 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given HSBC's strong deposit market share, we expect the bank to maintain a funding advantage relative to peers in Hong Kong.",
    "output": "[Cause] HSBC's strong deposit market share [Relation] cause [Effect] the bank to maintain a funding advantage relative to peers in Hong Kong",
    "gold": "[Cause]  HSBC's strong deposit market share [Relation] cause [Effect] the bank to maintain a funding advantage relative to peers in Hong Kong",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, we are concerned that the chain's relatively small size makes it more vulnerable to exogenous forces, such as trade disputes that could leave Five Below with little room to pass on higher costs to customers given its low-price mantra.",
    "output": "[Cause] the chain's relatively small size [Relation] cause [Effect] it more vulnerable to exogenous forces",
    "gold": "[Cause]  the chain's relatively small size [Relation] cause [Effect] it more vulnerable to exogenous forces",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, we are concerned that the chain's relatively small size makes it more vulnerable to exogenous forces, such as trade disputes that could leave Five Below with little room to pass on higher costs to customers given its low-price mantra.",
    "output": "[Cause] trade disputes [Relation] cause [Effect] Five Below with little room to pass on higher costs to customers",
    "gold": "[Cause] trade disputes [Relation] cause [Effect]  Five Below with little room to pass on higher costs to customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, we are concerned that the chain's relatively small size makes it more vulnerable to exogenous forces, such as trade disputes that could leave Five Below with little room to pass on higher costs to customers given its low-price mantra.",
    "output": "[Cause] trade disputes [Relation] cause [Effect] Five Below with little room to pass on higher costs to customers",
    "gold": "[Cause] its low-price mantra [Relation] cause [Effect]  Five Below with little room to pass on higher costs to customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This gives large players such as Unilever time to adjust to the entrance of a new brand, and through cost advantages generated from economies of scale, incumbents are well positioned to replicate the competitive product and offer it to retailers at a lower cost.",
    "output": "[Cause] economies of scale [Relation] enable [Effect] cost advantages generated",
    "gold": "[Cause] cost advantages generated from economies of scale [Relation] enable [Effect] large players such as Unilever time to adjust to the entrance of a new brand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This gives large players such as Unilever time to adjust to the entrance of a new brand, and through cost advantages generated from economies of scale, incumbents are well positioned to replicate the competitive product and offer it to retailers at a lower cost.",
    "output": "[Cause] cost advantages generated from economies of scale [Relation] enable [Effect] incumbents are well positioned to replicate the competitive product and offer it to retailers at a lower cost",
    "gold": "[Cause]  well positioned to replicate the competitive product [Relation] cause [Effect] offer it to retailers at a lower cost",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm's standing is sufficiently unassailable that IHS Markit has no direct competitor in many of its core data offerings.",
    "output": "[Cause] The firm's standing is sufficiently unassailable [Relation] cause [Effect] IHS Markit has no direct competitor in many of its core data offerings",
    "gold": "[Cause] The firm's standing is sufficiently unassailable [Relation] cause [Effect]  IHS Markit has no direct competitor in many of its core data offerings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As an E&C firm, Aecom faces significant event risk, such as legal disputes and cost overruns (which could be caused by a number of factors including labor shortages, subcontractor performance, inclement weather, and natural events), which could lead to large losses on individual projects.",
    "output": "[Cause] legal disputes and cost overruns [Relation] cause [Effect] large losses on individual projects",
    "gold": "[Cause] labor shortages, subcontractor performance, inclement weather, and natural events [Relation] cause [Effect]  legal disputes and cost overruns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As an E&C firm, Aecom faces significant event risk, such as legal disputes and cost overruns (which could be caused by a number of factors including labor shortages, subcontractor performance, inclement weather, and natural events), which could lead to large losses on individual projects.",
    "output": "[Cause] legal disputes and cost overruns [Relation] cause [Effect] large losses on individual projects",
    "gold": "[Cause]  legal disputes and cost overruns [Relation] cause [Effect]  large losses on individual projects",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect NICE to report an average GAAP gross margin of 72% over our explicit forecast period, with both GAAP and non-GAAP gross margins expanding into the high-70s/low-80s as the business scales up.",
    "output": "[Cause] the business scales up [Relation] cause [Effect] both GAAP and non-GAAP gross margins expanding into the high-70s/low-80s",
    "gold": "[Cause]  the business scales up [Relation] cause [Effect] both GAAP and non-GAAP gross margins expanding into the high-70s/low-80s",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "New projects should add 700 thousand barrels of oil equivalent per day through 2026, resulting in a 2% compound annual growth rate.",
    "output": "[Cause] New projects should add 700 thousand barrels of oil equivalent per day through 2026 [Relation] cause [Effect] a 2% compound annual growth rate",
    "gold": "[Cause] New projects should add 700 thousand barrels of oil equivalent per day through 2026 [Relation] enable [Effect] a 2% compound annual growth rate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project per-barrel operating costs to improve slightly as natural gas prices remain low and management cost reduction efforts take hold.",
    "output": "[Cause] natural gas prices remain low and management cost reduction efforts take hold [Relation] cause [Effect] per-barrel operating costs to improve slightly",
    "gold": "[Cause] natural gas prices remain low and management cost reduction efforts take hold [Relation] cause [Effect]  per-barrel operating costs to improve slightly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Both peers are able to heavily outspend AMD in R&D, leading to further propagation of market share dominance over AMD.",
    "output": "[Cause] Both peers are able to heavily outspend AMD in R&D [Relation] cause [Effect] further propagation of market share dominance over AMD",
    "gold": "[Cause] Both peers are able to heavily outspend AMD in R&D [Relation] cause [Effect] further propagation of market share dominance over AMD",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "An unfavorable regulatory landscape could also hinder the company's progress, by way of excise taxes or any other statute that either discourages consumption or alters go-to-market dynamics.",
    "output": "[Cause] An unfavorable regulatory landscape [Relation] prevent [Effect] the company's progress",
    "gold": "[Cause] An unfavorable regulatory landscape [Relation] prevent [Effect]  the company's progress",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the high cost of pharmaceutical drugs has offset some of the decline in the introduction of branded drugs but overall operating margins relative to displaced branded drugs are likely lower.",
    "output": "[Cause] the high cost of pharmaceutical drugs [Relation] prevent [Effect] some of the decline in the introduction of branded drugs",
    "gold": "[Cause] the high cost of pharmaceutical drugs [Relation] prevent [Effect] some of the decline in the introduction of branded drugs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We recognize there is substantial political uncertainty in the budget, but we think that it will be difficult to materially decrease the defense budget without sweeping political change.",
    "output": "[Cause] sweeping political change [Relation] cause [Effect] materially decrease the defense budget",
    "gold": "[Cause]  sweeping political change [Relation] enable [Effect] materially decrease the defense budget",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's direct-to-consumer plans around HBO Max are gaining momentum, which should nicely augment and eventually supplant traditional distribution mechanisms. This position should enable its studios and networks to remain a destination of choice for the best content creators well into the future.",
    "output": "[Cause] The firm's direct-to-consumer plans around HBO Max are gaining momentum, which should nicely augment and eventually supplant traditional distribution mechanisms [Relation] enable [Effect] its studios and networks to remain a destination of choice for the best content creators well into the future",
    "gold": "[Cause] The firm's direct-to-consumer plans around HBO Max are gaining momentum, which should nicely augment and eventually supplant traditional distribution mechanisms [Relation] enable [Effect]  its studios and networks to remain a destination of choice for the best content creators well into the future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the company has taken on some additional costs in the near term related to becoming a public company, over the long term, we believe the firm will be able to better spread labor costs over a large revenue base. This results in a total company adjusted EBITDA/sales margin of about 21% in 2025, improving from just under 17% in 2020.",
    "output": "[Cause] Although the company has taken on some additional costs in the near term related to becoming a public company, over the long term, we believe the firm will be able to better spread labor costs over a large revenue base [Relation] cause [Effect] a total company adjusted EBITDA/sales margin of about 21% in 2025, improving from just under 17% in 2020",
    "gold": "[Cause] Although the company has taken on some additional costs in the near term related to becoming a public company, over the long term, we believe the firm will be able to better spread labor costs over a large revenue base [Relation] cause [Effect]  a total company adjusted EBITDA/sales margin of about 21% in 2025, improving from just under 17% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we continue to expect the firm's operating margins to be affected by lower revenue yields and higher operating costs, we see adjusted operating profitability hovering between 32% and 35% of revenue during our five-year forecast period. As a result, the company should be able to generate close to $900 million in free cash flow (defined as cash flow from operations less capital expenditures) on average annually during 2021-25.",
    "output": "[Cause] While we continue to expect the firm's operating margins to be affected by lower revenue yields and higher operating costs, we see adjusted operating profitability hovering between 32% and 35% of revenue during our five-year forecast period [Relation] cause [Effect] the company should be able to generate close to $900 million in free cash flow (defined as cash flow from operations less capital expenditures) on average annually during 2021-25",
    "gold": "[Cause] While we continue to expect the firm's operating margins to be affected by lower revenue yields and higher operating costs, we see adjusted operating profitability hovering between 32% and 35% of revenue during our five-year forecast period [Relation] cause [Effect] the company should be able to generate close to $900 million in free cash flow (defined as cash flow from operations less capital expenditures) on average annually during 2021-25",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thus, the almost 35,000 events that Live Nation held in 2018 were likely among the most effective methods of reaching many of these young consumers. As a result, revenue from sponsorship and advertising has grown at 12% annual rate from 2010 to 2018 versus total fan annual growth of 9%.",
    "output": "[Cause] the almost 35,000 events that Live Nation held in 2018 were likely among the most effective methods of reaching many of these young consumers [Relation] cause [Effect] revenue from sponsorship and advertising has grown at 12% annual rate from 2010 to 2018 versus total fan annual growth of 9%",
    "gold": "[Cause]  the almost 35,000 events that Live Nation held in 2018 were likely among the most effective methods of reaching many of these young consumers [Relation] cause [Effect] revenue from sponsorship and advertising has grown at 12% annual rate from 2010 to 2018 versus total fan annual growth of 9%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we think these projects are riskier, we believe the firm mitigates some of this added risk by careful underwriting and joint venture partnerships.",
    "output": "[Cause] careful underwriting and joint venture partnerships [Relation] enable [Effect] the firm mitigates some of this added risk",
    "gold": "[Cause] careful underwriting and joint venture partnerships [Relation] cause [Effect] the firm mitigates some of this added risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, Discover's smaller scale and limited ability to sell additional products means the company has less ability to offer the same level of rewards as its rivals.",
    "output": "[Cause] Discover's smaller scale and limited ability to sell additional products [Relation] cause [Effect] the company has less ability to offer the same level of rewards as its rivals",
    "gold": "[Cause] Discover's smaller scale and limited ability to sell additional products [Relation] cause [Effect] the company has less ability to offer the same level of rewards as its rivals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect that companywide operating margin to stabilize in the midteens over the next few years as the company makes improvements in the integration of Omega.",
    "output": "[Cause] the company makes improvements in the integration of Omega [Relation] cause [Effect] companywide operating margin to stabilize in the midteens over the next few years",
    "gold": "[Cause] the company makes improvements in the integration of Omega [Relation] cause [Effect] companywide operating margin to stabilize in the midteens over the next few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, recurring subscription revenue has increased from 65% of total revenue in 2013 to 91% at the end of 2019, which indicates a highly predictable revenue stream going forward.",
    "output": "[Cause] recurring subscription revenue has increased from 65% of total revenue in 2013 to 91% at the end of 2019 [Relation] cause [Effect] indicates a highly predictable revenue stream going forward",
    "gold": "[Cause] recurring subscription revenue has increased from 65% of total revenue in 2013 to 91% at the end of 2019 [Relation] cause [Effect] indicates a highly predictable revenue stream going forward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The Athens facility, which includes the world's largest radial forge, will help improve Carpenter's cost profile because it is highly automated and reduces the number of times that products must be reheated.",
    "output": "[Cause] it is highly automated and reduces the number of times that products must be reheated [Relation] cause [Effect] The Athens facility, which includes the world's largest radial forge, will help improve Carpenter's cost profile",
    "gold": "[Cause] The Athens facility [Relation] enable [Effect] help improve Carpenter's cost profile",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "When market conditions improve, we may still see a c-corp conversion or larger asset sales designed to rid the portfolio of weaker Andeavor Logistics assets.",
    "output": "[Cause] market conditions improve [Relation] cause [Effect] a c-corp conversion or larger asset sales",
    "gold": "[Cause] market conditions improve [Relation] enable [Effect] a c-corp conversion or larger asset sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "When market conditions improve, we may still see a c-corp conversion or larger asset sales designed to rid the portfolio of weaker Andeavor Logistics assets.",
    "output": "[Cause] a c-corp conversion or larger asset sales [Relation] enable [Effect] rid the portfolio of weaker Andeavor Logistics assets",
    "gold": "[Cause] a c-corp conversion or larger asset sales [Relation] enable [Effect] rid the portfolio of weaker Andeavor Logistics assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate sales revert to normal low-single-digit comparable expansion once vaccines becomes widely available (which we assume occurs in the middle of calendar 2021).",
    "output": "[Cause] vaccines becomes widely available [Relation] cause [Effect] sales revert to normal low-single-digit comparable expansion",
    "gold": "[Cause]  vaccines becomes widely available [Relation] cause [Effect] sales revert to normal low-single-digit comparable expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "So long as these regions continue to face structural supply constraints, Kilroy should be able to benefit from its construction efforts.",
    "output": "[Cause] So long as these regions continue to face structural supply constraints [Relation] enable [Effect] Kilroy should be able to benefit from its construction efforts",
    "gold": "[Cause] So long as these regions continue to face structural supply constraints [Relation] cause [Effect] Kilroy should be able to benefit from its construction efforts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We surmise that HP may garner some printing growth from its movement into the A3, graphics, and 3D printing markets; however, declines in HP's historical core printing segments may offset any potential gains.",
    "output": "[Cause] declines in HP's historical core printing segments [Relation] prevent [Effect] any potential gains",
    "gold": "[Cause] its movement into the A3, graphics, and 3D printing markets [Relation] enable [Effect] HP may garner some printing growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The ad revenue allows Spotify's service to remain free for users, as users implicitly agree to listen to ads in exchange for the free service.",
    "output": "[Cause] users implicitly agree to listen to ads in exchange for the free service [Relation] cause [Effect] The ad revenue allows Spotify's service to remain free for users",
    "gold": "[Cause] ad revenue [Relation] cause [Effect] Spotify's service to remain free for users",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think the pandemic will result in a 22% drop in organic sales in 2020, although a 11% bump from acquisitions and an extra week should result in a 11% drop in reported sales.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] a 22% drop in organic sales in 2020",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] a 22% drop in organic sales in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the pandemic will result in a 22% drop in organic sales in 2020, although a 11% bump from acquisitions and an extra week should result in a 11% drop in reported sales.",
    "output": "[Cause] a 11% bump from acquisitions and an extra week [Relation] cause [Effect] a 11% drop in reported sales",
    "gold": "[Cause] a 11% bump from acquisitions and an extra week [Relation] cause [Effect]  a 11% drop in reported sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Using Equinix data centers, enterprises can directly connect their own equipment with multiple cloud providers, resulting in reduced latency and superior security and making the data center a draw for both sides.",
    "output": "[Cause] Using Equinix data centers, enterprises can directly connect their own equipment with multiple cloud providers [Relation] cause [Effect] reduced latency and superior security and making the data center a draw for both sides",
    "gold": "[Cause] Using Equinix data centers, enterprises can directly connect their own equipment with multiple cloud providers [Relation] cause [Effect] reduced latency and superior security and making the data center a draw for both sides",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Similar to contract research organizations, which provide research support in the healthcare space, West maintains a cost advantage over its customers, allowing it to win business from companies outsourcing material design and manufacturing.",
    "output": "[Cause] West maintains a cost advantage over its customers [Relation] enable [Effect] it to win business from companies outsourcing material design and manufacturing",
    "gold": "[Cause] West maintains a cost advantage over its customers [Relation] enable [Effect] it to win business from companies outsourcing material design and manufacturing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As CME Group's trading volume has grown, the exchange has been able to decrease the minimum tick size for prices on futures contracts, which allows for narrower bid-ask spreads.",
    "output": "[Cause] CME Group's trading volume has grown [Relation] cause [Effect] the exchange has been able to decrease the minimum tick size for prices on futures contracts",
    "gold": "[Cause] CME Group's trading volume has grown [Relation] cause [Effect] the exchange has been able to decrease the minimum tick size for prices on futures contracts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, GTA V will be launched onto its third generation of consoles in November 2021, likely pushing the potential launch of GTA VI even further out.",
    "output": "[Cause] GTA V will be launched onto its third generation of consoles in November 2021 [Relation] cause [Effect] pushing the potential launch of GTA VI even further out",
    "gold": "[Cause] GTA V will be launched onto its third generation of consoles in November 2021 [Relation] enable [Effect]  pushing the potential launch of GTA VI even further out",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We admit that the bank is more complex, which can increase uncertainty for projections, but we believe that the underlying stability and strength of the business model offsets this.",
    "output": "[Cause] the bank is more complex [Relation] cause [Effect] increase uncertainty for projections",
    "gold": "[Cause] the bank is more complex [Relation] cause [Effect] increase uncertainty for projections",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We admit that the bank is more complex, which can increase uncertainty for projections, but we believe that the underlying stability and strength of the business model offsets this.",
    "output": "[Cause] the bank is more complex [Relation] cause [Effect] increase uncertainty for projections",
    "gold": "[Cause] the underlying stability and strength of the business model [Relation] prevent [Effect] increase uncertainty for projections",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We have been impressed by the bank's continued investment in technology, leading to more integrated back-end systems, a highly competitive payments platform, and a leading presence in the push toward omnichannel banking.",
    "output": "[Cause] the bank's continued investment in technology [Relation] cause [Effect] more integrated back-end systems, a highly competitive payments platform, and a leading presence in the push toward omnichannel banking",
    "gold": "[Cause]  the bank's continued investment in technology [Relation] cause [Effect]  more integrated back-end systems, a highly competitive payments platform, and a leading presence in the push toward omnichannel banking",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For unconventional acreage, reserves are only booked once wells are drilled, leaving all undrilled acreage with zero associated reserve bookings.",
    "output": "[Cause] wells are drilled [Relation] cause [Effect] reserves are only booked",
    "gold": "[Cause] wells are drilled [Relation] cause [Effect] reserves are only booked",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For unconventional acreage, reserves are only booked once wells are drilled, leaving all undrilled acreage with zero associated reserve bookings.",
    "output": "[Cause] wells are drilled [Relation] cause [Effect] reserves are only booked",
    "gold": "[Cause] wells are drilled [Relation] cause [Effect] leaving all undrilled acreage with zero associated reserve bookings",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although the pandemic has resulted in a sales surge that should ease in 2021 as vaccine and therapeutic advancements reduce infection rates, O'Reilly's long-term strength remains rooted in its competitive advantages.",
    "output": "[Cause] vaccine and therapeutic advancements reduce infection rates [Relation] cause [Effect] O'Reilly's long-term strength remains rooted in its competitive advantages",
    "gold": "[Cause]  its competitive advantages [Relation] cause [Effect] O'Reilly's long-term strength",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Unilever's scale and scope help the firm achieve levels of cash flow generation that allow it to invest behind its brands and to finance the slotting fees necessary when introducing new products, an intangible asset that cannot be replicated by new entrants.",
    "output": "[Cause] Unilever's scale and scope [Relation] enable [Effect] the firm achieve levels of cash flow generation that allow it to invest behind its brands and to finance the slotting fees necessary when introducing new products",
    "gold": "[Cause] Unilever's scale and scope [Relation] enable [Effect] the firm achieve levels of cash flow generation that allow it to invest behind its brands and to finance the slotting fees necessary when introducing new products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Would-be rational competitors have little incentive to enter because massive up-front infrastructure costs and the potential for creating excess capacity amid limited demand would preclude economic profit and destroy value.",
    "output": "[Cause] massive up-front infrastructure costs and the potential for creating excess capacity amid limited demand would preclude economic profit and destroy value [Relation] cause [Effect] Would-be rational competitors have little incentive to enter",
    "gold": "[Cause] massive up-front infrastructure costs and the potential for creating excess capacity amid limited demand would preclude economic profit and destroy value [Relation] cause [Effect] Would-be rational competitors have little incentive to enter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The latter change is to give the firm more credit for potentially scaling its overhead costs as it grows beyond traditional franchise light vehicle dealerships via more heavy truck dealers and growing its standalone used vehicle store business, CarShop.",
    "output": "[Cause] it grows beyond traditional franchise light vehicle dealerships via more heavy truck dealers and growing its standalone used vehicle store business, CarShop [Relation] cause [Effect] The latter change is to give the firm more credit for potentially scaling its overhead costs",
    "gold": "[Cause]  more heavy truck dealers and growing its standalone used vehicle store business [Relation] enable [Effect]  it grows beyond traditional franchise light vehicle dealerships",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While this venture is in its nascency, high levels of investment and innovation could pose competitive threats to Cadence further down the line.",
    "output": "[Cause] high levels of investment and innovation [Relation] cause [Effect] pose competitive threats to Cadence further down the line",
    "gold": "[Cause] high levels of investment and innovation [Relation] cause [Effect] pose competitive threats to Cadence further down the line",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company deepens this level of engagement by offering tool loans, repair guides, how-to videos, and simple diagnostics at its stores, gratis.",
    "output": "[Cause] offering tool loans, repair guides, how-to videos, and simple diagnostics at its stores, gratis [Relation] enable [Effect] The company deepens this level of engagement",
    "gold": "[Cause] offering tool loans, repair guides, how-to videos, and simple diagnostics at its stores, gratis [Relation] cause [Effect] The company deepens this level of engagement",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although Lumen is using technology to significantly improve the quality of its network, we see it as simply closing the gap on competitors that it had fallen behind.",
    "output": "[Cause] Lumen is using technology to significantly improve the quality of its network [Relation] cause [Effect] closing the gap on competitors that it had fallen behind",
    "gold": "[Cause] Lumen is using technology to significantly improve the quality of its network [Relation] enable [Effect] closing the gap on competitors that it had fallen behind",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Renewable projects also offer a growth opportunitites from environmental, social, and governance-friendly secured projects but represent about 3% of the company's EBITDA.",
    "output": "[Cause] Renewable projects also offer a growth opportunitites from environmental, social, and governance-friendly secured projects [Relation] cause [Effect] represent about 3% of the company's EBITDA",
    "gold": "[Cause] Renewable projects [Relation] cause [Effect] a growth opportunitites from environmental, social, and governance-friendly secured projects",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Any increase in competition can quickly hurt results, as most markets are highly mature and winning market share generally requires very aggressive pricing.",
    "output": "[Cause] most markets are highly mature and winning market share generally requires very aggressive pricing [Relation] cause [Effect] Any increase in competition can quickly hurt results",
    "gold": "[Cause] most markets are highly mature and winning market share generally requires very aggressive pricing [Relation] cause [Effect] Any increase in competition can quickly hurt results",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While a local country's domestic rating agency could have value for its domestic bonds, a rating from a Big Three firm is critical for a cross-border marketed security as global investors desire broad comparability across global bonds.",
    "output": "[Cause] global investors desire broad comparability across global bonds [Relation] cause [Effect] a rating from a Big Three firm is critical for a cross-border marketed security",
    "gold": "[Cause] global investors desire broad comparability across global bonds [Relation] enable [Effect] a rating from a Big Three firm is critical for a cross-border marketed security",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By not owning its own fabs, MPS can be nimbler in innovating its process technology than larger peers that are content to produce lagging-edge, steadfastly reliable chips that produce steady cash flows.",
    "output": "[Cause] not owning its own fabs [Relation] cause [Effect] MPS can be nimbler in innovating its process technology than larger peers that are content to produce lagging-edge, steadfastly reliable chips that produce steady cash flows",
    "gold": "[Cause] not owning its own fabs [Relation] enable [Effect] MPS can be nimbler in innovating its process technology than larger peers that are content to produce lagging-edge, steadfastly reliable chips that produce steady cash flows",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This is a risk, as many of Synchrony's partners are brick-and-mortar retailers that have been pressured by the shift toward increased online purchases.",
    "output": "[Cause] many of Synchrony's partners are brick-and-mortar retailers that have been pressured by the shift toward increased online purchases [Relation] cause [Effect] This is a risk",
    "gold": "[Cause] the shift toward increased online purchases [Relation] cause [Effect] many of Synchrony's partners are brick-and-mortar retailers that have been pressured",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With the majority of its linerboard and medium constructed from virgin fiber, PCA faces the risk that softwood chip prices could increase substantially, forcing virgin fiber manufacturers to live with tighter margins to remain cost-competitive with recycled mills.",
    "output": "[Cause] the majority of its linerboard and medium constructed from virgin fiber [Relation] cause [Effect] softwood chip prices could increase substantially, forcing virgin fiber manufacturers to live with tighter margins to remain cost-competitive with recycled mills",
    "gold": "[Cause] softwood chip prices could increase substantially [Relation] cause [Effect] virgin fiber manufacturers to live with tighter margins to remain cost-competitive with recycled mills",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Offering ready-to-use injectables in the care setting can improve patient safety and reduce the time associated with administration tasks, which creates a valuable tool for nurses and doctors on the front lines of care and helps Baxter generate some mix benefits in these otherwise commodified markets.",
    "output": "[Cause] Offering ready-to-use injectables in the care setting can improve patient safety and reduce the time associated with administration tasks [Relation] enable [Effect] creates a valuable tool for nurses and doctors on the front lines of care and helps Baxter generate some mix benefits in these otherwise commodified markets",
    "gold": "[Cause] Offering ready-to-use injectables in the care setting [Relation] enable [Effect] improve patient safety and reduce the time associated with administration tasks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Competition should leave little room for margin expansion, as Ross will likely have to reinvest savings from operating leverage into keeping prices low and perceived value high.",
    "output": "[Cause] Ross will likely have to reinvest savings from operating leverage into keeping prices low and perceived value high [Relation] cause [Effect] Competition should leave little room for margin expansion",
    "gold": "[Cause]  Ross will likely have to reinvest savings from operating leverage into keeping prices low and perceived value high [Relation] cause [Effect] Competition should leave little room for margin expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, digitalization of documents and electronic workflow have changed businesses' behavior and generated an integrated document management system, which is becoming a threat to Canon's business model.",
    "output": "[Cause] digitalization of documents and electronic workflow have changed businesses' behavior and generated an integrated document management system [Relation] cause [Effect] a threat to Canon's business model",
    "gold": "[Cause] digitalization of documents and electronic workflow have changed businesses' behavior and generated an integrated document management system [Relation] cause [Effect] a threat to Canon's business model",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Advertising, marketing, and SG&A costs decreasing as a percentage of sales from increasing adoption of the 3DExperience platform should largely drive the expansion.",
    "output": "[Cause] Advertising, marketing, and SG&A costs decreasing as a percentage of sales from increasing adoption of the 3DExperience platform [Relation] enable [Effect] largely drive the expansion",
    "gold": "[Cause] Advertising, marketing, and SG&A costs decreasing as a percentage of sales from increasing adoption of the 3DExperience platform [Relation] cause [Effect] largely drive the expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Still, we are confident that AutoNation will remain one of the best operators in the dealer sector and thus be profitable in nearly any economic environment.",
    "output": "[Cause] AutoNation will remain one of the best operators in the dealer sector [Relation] enable [Effect] be profitable in nearly any economic environment",
    "gold": "[Cause] AutoNation will remain one of the best operators in the dealer sector [Relation] cause [Effect] be profitable in nearly any economic environment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Based on strong fundamental diabetes market growth and Novo's impressive pipeline, we expect diabetes and obesity care to grow from 85% of Novo's overall sales to 93% in 10 years.",
    "output": "[Cause] strong fundamental diabetes market growth and Novo's impressive pipeline [Relation] enable [Effect] diabetes and obesity care to grow from 85% of Novo's overall sales to 93% in 10 years",
    "gold": "[Cause] strong fundamental diabetes market growth and Novo's impressive pipeline [Relation] cause [Effect] diabetes and obesity care to grow from 85% of Novo's overall sales to 93% in 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nordson invests nearly 3% of sales into research &amp; development, which is roughly in line with its peers and we think should help protect the firm's competitive position.",
    "output": "[Cause] Nordson invests nearly 3% of sales into research &amp; development [Relation] enable [Effect] help protect the firm's competitive position",
    "gold": "[Cause] Nordson invests nearly 3% of sales into research &amp; development [Relation] enable [Effect] help protect the firm's competitive position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Operating margins are expected to increase longer term, as the firm enjoys solid operating leverage in its business model following the recent uptick in R&D.",
    "output": "[Cause] the firm enjoys solid operating leverage in its business model following the recent uptick in R&D [Relation] cause [Effect] Operating margins are expected to increase longer term",
    "gold": "[Cause] the firm enjoys solid operating leverage in its business model following the recent uptick in R&D [Relation] cause [Effect] Operating margins are expected to increase longer term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the amount of competition in many key end markets from large peers such as Broadcom and Intel, we think these levels could be difficult to sustain.",
    "output": "[Cause] the amount of competition in many key end markets from large peers such as Broadcom and Intel [Relation] cause [Effect] these levels could be difficult to sustain",
    "gold": "[Cause] the amount of competition in many key end markets from large peers such as Broadcom and Intel [Relation] cause [Effect]  these levels could be difficult to sustain",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the deal is approved, it's likely that regulators will be even more focused on fostering wireless competition, thereby increasing the ever-present regulatory threats, including forcing incumbents to wholesale their networks to mobile virtual network operators (MVNOs).",
    "output": "[Cause] the deal is approved [Relation] cause [Effect] regulators will be even more focused on fostering wireless competition",
    "gold": "[Cause] the deal is approved [Relation] enable [Effect]  regulators will be even more focused on fostering wireless competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "During the past several years, EOG added more premium locations than it drilled, resulting in a net increase to its drilling inventory.",
    "output": "[Cause] EOG added more premium locations than it drilled [Relation] cause [Effect] a net increase to its drilling inventory",
    "gold": "[Cause] EOG added more premium locations than it drilled [Relation] cause [Effect] a net increase to its drilling inventory",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Airbnb's revenue take rate to expand to 14% in 2029 from 12.7% in 2019, aided by expanded experiences, insurance, and promoted listing offerings.",
    "output": "[Cause] expanded experiences, insurance, and promoted listing offerings [Relation] enable [Effect] Airbnb's revenue take rate to expand to 14% in 2029 from 12.7% in 2019",
    "gold": "[Cause] expanded experiences, insurance, and promoted listing offerings [Relation] enable [Effect] Airbnb's revenue take rate to expand to 14% in 2029 from 12.7% in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In Argentina, for example, a country suffering from immense geopolitical volatility and undergoing a multiyear period of recession, hyperinflation and a plummeting currency, Ambev has maintained its margin in the Latin America South segment because its cost advantage has allowed it to raise prices at levels below inflation.",
    "output": "[Cause] its cost advantage has allowed it to raise prices at levels below inflation [Relation] cause [Effect] Ambev has maintained its margin in the Latin America South segment",
    "gold": "[Cause] its cost advantage has allowed it to raise prices at levels below inflation [Relation] enable [Effect]  Ambev has maintained its margin in the Latin America South segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, as travel slowly returns to normal once the virus has passed, we think the company should see strong growth in 2021 and beyond and the company should return to 2019 levels within a few years.",
    "output": "[Cause] travel slowly returns to normal once the virus has passed [Relation] cause [Effect] the company should see strong growth in 2021 and beyond and the company should return to 2019 levels within a few years",
    "gold": "[Cause] travel slowly returns to normal once the virus has passed [Relation] cause [Effect] the company should see strong growth in 2021 and beyond and the company should return to 2019 levels within a few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, owing to long-term contracts struck with utilities before the post-2003 surge in uranium prices, the company has been unable to fully capture the economic benefits due its cost profile. As a result, by our measurements, Cameco hasn't consistently generated returns in excess of its capital cost (about 10% in our model) over the past several years.",
    "output": "[Cause] owing to long-term contracts struck with utilities before the post-2003 surge in uranium prices, the company has been unable to fully capture the economic benefits due its cost profile [Relation] cause [Effect] Cameco hasn't consistently generated returns in excess of its capital cost (about 10% in our model) over the past several years",
    "gold": "[Cause] owing to long-term contracts struck with utilities before the post-2003 surge in uranium prices, the company has been unable to fully capture the economic benefits due its cost profile [Relation] cause [Effect] Cameco hasn't consistently generated returns in excess of its capital cost (about 10% in our model) over the past several years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, the competition's efforts to expand to new disease areas may limit Alexion's potential for label expansion as the field becomes more crowded.",
    "output": "[Cause] the field becomes more crowded [Relation] cause [Effect] the competition's efforts to expand to new disease areas may limit Alexion's potential for label expansion",
    "gold": "[Cause] the field becomes more crowded [Relation] cause [Effect] the competition's efforts to expand to new disease areas may limit Alexion's potential for label expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Twilio recently announced its acquisition of Segment, a San Francisco-based cloud infrastructure firm that takes customer engagement one step further and helps businesses leverage data to create comprehensive customer profiles and improve engagement.",
    "output": "[Cause] Twilio recently announced its acquisition of Segment [Relation] enable [Effect] businesses leverage data to create comprehensive customer profiles and improve engagement",
    "gold": "[Cause] a San Francisco-based cloud infrastructure firm that takes customer engagement one step further [Relation] cause [Effect] helps businesses leverage data to create comprehensive customer profiles and improve engagement",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Annualized organic AUM growth of 6.8% was well above our long-term target of 3%-5% annually, but given that the first quarter is generally a stronger quarter for flows, we think things will moderate some as the year progresses.",
    "output": "[Cause] the first quarter is generally a stronger quarter for flows [Relation] cause [Effect] things will moderate some as the year progresses",
    "gold": "[Cause] the first quarter is generally a stronger quarter for flows [Relation] enable [Effect] things will moderate some as the year progresses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, due to temporary store closures during the pandemic, we forecast 95% e-commerce growth in 2020 and expect the segment will become Lululemon's largest source of operating profit for the first time.",
    "output": "[Cause] temporary store closures during the pandemic [Relation] cause [Effect] 95% e-commerce growth in 2020",
    "gold": "[Cause] temporary store closures during the pandemic [Relation] cause [Effect] 95% e-commerce growth in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, due to temporary store closures during the pandemic, we forecast 95% e-commerce growth in 2020 and expect the segment will become Lululemon's largest source of operating profit for the first time.",
    "output": "[Cause] temporary store closures during the pandemic [Relation] cause [Effect] the segment will become Lululemon's largest source of operating profit for the first time",
    "gold": "[Cause] temporary store closures during the pandemic [Relation] cause [Effect]  the segment will become Lululemon's largest source of operating profit for the first time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given RingCentral's high share within UCaaS, we see the value that more and more businesses are deriving from the firm's platform; this high proportion of users also supports strong switching costs as the firm's product becomes increasingly entrenched within organizations.",
    "output": "[Cause] RingCentral's high share within UCaaS [Relation] cause [Effect] we see the value that more and more businesses are deriving from the firm's platform",
    "gold": "[Cause]  the firm's product becomes increasingly entrenched within organizations [Relation] cause [Effect] this high proportion of users also supports strong switching costs as the firm's product becomes increasingly entrenched within organizations.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, Nasdaq has seen continued pushback from clients and regulators on the pricing of its market data products, which has limited the revenue growth from the company's market data.",
    "output": "[Cause] continued pushback from clients and regulators on the pricing of its market data products [Relation] prevent [Effect] the revenue growth from the company's market data",
    "gold": "[Cause]  continued pushback from clients and regulators on the pricing of its market data products [Relation] prevent [Effect] the revenue growth from the company's market data",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The equity issued in 2019-20 and cash from recovery of past deferred costs should limit incremental financing costs, allowing earnings to grow in line with rate base for the next few years.",
    "output": "[Cause] The equity issued in 2019-20 and cash from recovery of past deferred costs [Relation] prevent [Effect] incremental financing costs",
    "gold": "[Cause] The equity issued in 2019-20 and cash from recovery of past deferred costs [Relation] prevent [Effect] incremental financing costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The equity issued in 2019-20 and cash from recovery of past deferred costs should limit incremental financing costs, allowing earnings to grow in line with rate base for the next few years.",
    "output": "[Cause] The equity issued in 2019-20 and cash from recovery of past deferred costs [Relation] enable [Effect] limit incremental financing costs",
    "gold": "[Cause] The equity issued in 2019-20 and cash from recovery of past deferred costs should limit incremental financing costs [Relation] enable [Effect] earnings to grow in line with rate base for the next few years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although the pandemic presents a material near-term demand headwind, we continue to forecast annual mid-single-digit steady-state visitation growth in Macao during 2024-30, supported by China outbound travel that we expect will average high-single-digit annual growth during that time.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] a material near-term demand headwind",
    "gold": "[Cause] China outbound travel [Relation] cause [Effect] annual mid-single-digit steady-state visitation growth in Macao",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although the pandemic presents a material near-term demand headwind, we continue to forecast annual mid-single-digit steady-state visitation growth in Macao during 2024-30, supported by China outbound travel that we expect will average high-single-digit annual growth during that time.",
    "output": "[Cause] China outbound travel [Relation] enable [Effect] annual mid-single-digit steady-state visitation growth in Macao during 2024-30",
    "gold": "[Cause] annual mid-single-digit steady-state visitation growth in Macao [Relation] cause [Effect] we expect will average high-single-digit annual growth during that time",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Cost AdvantageCigarette manufacturing is a scalable business model because of the homogeneity of the product, and there is an inverse correlation between volume and average operating cost per unit.",
    "output": "[Cause] the homogeneity of the product [Relation] cause [Effect] Cost AdvantageCigarette manufacturing is a scalable business model",
    "gold": "[Cause] Cost AdvantageCigarette manufacturing is a scalable business model because of the homogeneity of the product [Relation] enable [Effect] there is an inverse correlation between volume and average operating cost per unit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The TNT integration has also proved tricky, due in part to disruption from a painful 2017 cyberattack that cost millions and drove share losses at TNT.",
    "output": "[Cause] disruption from a painful 2017 cyberattack [Relation] cause [Effect] The TNT integration has also proved tricky",
    "gold": "[Cause] disruption from a painful 2017 cyberattack [Relation] cause [Effect] The TNT integration has also proved tricky",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The TNT integration has also proved tricky, due in part to disruption from a painful 2017 cyberattack that cost millions and drove share losses at TNT.",
    "output": "[Cause] disruption from a painful 2017 cyberattack [Relation] cause [Effect] The TNT integration has also proved tricky",
    "gold": "[Cause] disruption from a painful 2017 cyberattack [Relation] cause [Effect] cost millions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The TNT integration has also proved tricky, due in part to disruption from a painful 2017 cyberattack that cost millions and drove share losses at TNT.",
    "output": "[Cause] disruption from a painful 2017 cyberattack [Relation] cause [Effect] The TNT integration has also proved tricky",
    "gold": "[Cause] disruption from a painful 2017 cyberattack [Relation] cause [Effect] drove share losses at TNT",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These IOLs can be monofocal, providing a single focusing distance, or multifocal, with two or three focusing distances, allowing for clearer vision across a range of distances, and toric intraocular lenses are available to correct astigmatic eye curvature imperfections.",
    "output": "[Cause] These IOLs can be monofocal, providing a single focusing distance, or multifocal, with two or three focusing distances [Relation] enable [Effect] clearer vision across a range of distances",
    "gold": "[Cause] These IOLs can be monofocal, providing a single focusing distance, or multifocal, with two or three focusing distances [Relation] enable [Effect] clearer vision across a range of distances",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe it is unlikely that a significant over issuance of licenses will occur again as Oregon's mistake has served as a lesson for regulators to have a more deliberate pace in license issuance.",
    "output": "[Cause] Oregon's mistake has served as a lesson for regulators to have a more deliberate pace in license issuance [Relation] cause [Effect] it is unlikely that a significant over issuance of licenses will occur again",
    "gold": "[Cause] Oregon's mistake has served as a lesson for regulators to have a more deliberate pace in license issuance [Relation] cause [Effect]  it is unlikely that a significant over issuance of licenses will occur again",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, if the underlying properties can't sustain the rent bumps throughout the lease term, the leases will eventually need to be broken and new, lower terms will be forced onto the landlord.",
    "output": "[Cause] the underlying properties can't sustain the rent bumps throughout the lease term [Relation] cause [Effect] the leases will eventually need to be broken and new, lower terms will be forced onto the landlord",
    "gold": "[Cause]  if the underlying properties can't sustain the rent bumps throughout the lease term, the leases will eventually need to be broken [Relation] cause [Effect] new, lower terms will be forced onto the landlord.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In life sciences, we expect Valor Glass to continue outpacing the pharmaceutical glass market as it takes share and will drive 7% growth for the segment.",
    "output": "[Cause] it takes share and will drive 7% growth for the segment [Relation] cause [Effect] Valor Glass to continue outpacing the pharmaceutical glass market",
    "gold": "[Cause]  it takes share and will drive 7% growth for the segment [Relation] enable [Effect] Valor Glass to continue outpacing the pharmaceutical glass market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore we've seen a rush of competitors into the segment give its lack of barriers to entry that has compressed returns.",
    "output": "[Cause] its lack of barriers to entry [Relation] cause [Effect] compressed returns",
    "gold": "[Cause] its lack of barriers to entry [Relation] cause [Effect] compressed returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore we've seen a rush of competitors into the segment give its lack of barriers to entry that has compressed returns.",
    "output": "[Cause] its lack of barriers to entry [Relation] cause [Effect] compressed returns",
    "gold": "[Cause] its lack of barriers to entry [Relation] cause [Effect] a rush of competitors into the segment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "CenterPoint has reduced some of the regulatory uncertainty for its natural gas distribution investments related to safety and reliability by receiving preapproval and favorable rate mechanisms.",
    "output": "[Cause] receiving preapproval and favorable rate mechanisms [Relation] enable [Effect] CenterPoint has reduced some of the regulatory uncertainty for its natural gas distribution investments related to safety and reliability",
    "gold": "[Cause] receiving preapproval and favorable rate mechanisms [Relation] enable [Effect] CenterPoint has reduced some of the regulatory uncertainty for its natural gas distribution investments related to safety and reliability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cheniere can assign these DES contracts to its marketing operations, which provides flexibility in terms of where to source the LNG from, potentially improving overall economics.",
    "output": "[Cause] Cheniere can assign these DES contracts to its marketing operations [Relation] enable [Effect] provides flexibility in terms of where to source the LNG from, potentially improving overall economics",
    "gold": "[Cause] Cheniere can assign these DES contracts to its marketing operations [Relation] enable [Effect]  provides flexibility in terms of where to source the LNG from, potentially improving overall economics",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As FireEye shifts from physical products to cloud subscriptions and managed services, we model consolidated GAAP gross margins to expand to 68% in 2025 compared with 65% in 2020.",
    "output": "[Cause] FireEye shifts from physical products to cloud subscriptions and managed services [Relation] cause [Effect] we model consolidated GAAP gross margins to expand to 68% in 2025 compared with 65% in 2020",
    "gold": "[Cause]  FireEye shifts from physical products to cloud subscriptions and managed services [Relation] enable [Effect]  we model consolidated GAAP gross margins to expand to 68% in 2025 compared with 65% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are raising our uncertainty rating to high from medium, given the potential impact of the coronavirus on the business and on capital markets.",
    "output": "[Cause] the potential impact of the coronavirus on the business and on capital markets [Relation] cause [Effect] We are raising our uncertainty rating to high from medium",
    "gold": "[Cause]  the potential impact of the coronavirus on the business and on capital markets [Relation] enable [Effect] We are raising our uncertainty rating to high from medium",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Within the operating efficiency bucket, we also see room for economies of scope leading to a cost advantage via lower relative customer acquisition costs.",
    "output": "[Cause] lower relative customer acquisition costs [Relation] cause [Effect] a cost advantage",
    "gold": "[Cause] lower relative customer acquisition costs [Relation] cause [Effect] a cost advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through the Danaher Business System, Danaher aims for continuous improvement of its scientific technology portfolio by seeking out attractive markets and then acquiring companies to enter or expand within those niches.",
    "output": "[Cause] the Danaher Business System [Relation] enable [Effect] continuous improvement of its scientific technology portfolio",
    "gold": "[Cause] the Danaher Business System [Relation] enable [Effect] seeking out attractive markets and then acquiring companies to enter or expand within those niches",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Through the Danaher Business System, Danaher aims for continuous improvement of its scientific technology portfolio by seeking out attractive markets and then acquiring companies to enter or expand within those niches.",
    "output": "[Cause] seeking out attractive markets and then acquiring companies to enter or expand within those niches [Relation] enable [Effect] continuous improvement of its scientific technology portfolio",
    "gold": "[Cause] seeking out attractive markets and then acquiring companies to enter or expand within those niches [Relation] cause [Effect] continuous improvement of its scientific technology portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, once a customer has integrated a system that functions as designed, required downtime and operational risk of a new system leads to low levels of customer turnover for Sealed Air.",
    "output": "[Cause] once a customer has integrated a system that functions as designed, required downtime and operational risk of a new system [Relation] cause [Effect] low levels of customer turnover for Sealed Air",
    "gold": "[Cause] once a customer has integrated a system that functions as designed, required downtime and operational risk of a new system [Relation] cause [Effect] low levels of customer turnover for Sealed Air",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The small market has driven some competitors away and likely will keep others at bay, as they wouldn't be able to compete without an existing, low-cost network like Cogent has.",
    "output": "[Cause] they wouldn't be able to compete without an existing, low-cost network like Cogent has [Relation] cause [Effect] The small market has driven some competitors away and likely will keep others at bay",
    "gold": "[Cause] they wouldn't be able to compete without an existing, low-cost network like Cogent has [Relation] cause [Effect] The small market has driven some competitors away and likely will keep others at bay",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The small market has driven some competitors away and likely will keep others at bay, as they wouldn't be able to compete without an existing, low-cost network like Cogent has.",
    "output": "[Cause] they wouldn't be able to compete without an existing, low-cost network like Cogent has [Relation] cause [Effect] keep others at bay",
    "gold": "[Cause] an existing, low-cost network like Cogent has [Relation] enable [Effect] compete",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Management is confident it can deliver roughly $300 million in cost synergies by year 3, driven by procurement, supply chain, and manufacturing efficiencies as well as SG&A savings.",
    "output": "[Cause] procurement, supply chain, and manufacturing efficiencies as well as SG&A savings [Relation] enable [Effect] deliver roughly $300 million in cost synergies by year 3",
    "gold": "[Cause] procurement, supply chain, and manufacturing efficiencies as well as SG&A savings [Relation] enable [Effect] deliver roughly $300 million in cost synergies by year 3",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "FireEye's ambition could catalyze its competitors to be more aggressive in their product roadmaps or pricing to lock out FireEye's products.",
    "output": "[Cause] FireEye's ambition [Relation] enable [Effect] catalyze its competitors to be more aggressive in their product roadmaps or pricing",
    "gold": "[Cause] FireEye's ambition [Relation] cause [Effect] catalyze its competitors to be more aggressive in their product roadmaps or pricing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Internationally, we've long held Hershey's growth could be hindered as larger, more diversified players maintain established positions in faster-growing emerging markets where tastes and preferences tend to be more localized.",
    "output": "[Cause] larger, more diversified players maintain established positions in faster-growing emerging markets where tastes and preferences tend to be more localized [Relation] cause [Effect] we've long held Hershey's growth could be hindered",
    "gold": "[Cause]  larger, more diversified players maintain established positions in faster-growing emerging markets where tastes and preferences tend to be more localized [Relation] cause [Effect]  we've long held Hershey's growth could be hindered",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By creating brand cachet for its own labels, particularly Duralast, the company generates traffic in-store, while its sales staff highlights the value of the proprietary brands through customer store visits, creating a self-reinforcing cycle that is difficult for regional and local retailers to match.",
    "output": "[Cause] creating brand cachet for its own labels, particularly Duralast [Relation] enable [Effect] the company generates traffic in-store",
    "gold": "[Cause] creating brand cachet for its own labels, particularly Duralast [Relation] enable [Effect]  the company generates traffic in-store",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By creating brand cachet for its own labels, particularly Duralast, the company generates traffic in-store, while its sales staff highlights the value of the proprietary brands through customer store visits, creating a self-reinforcing cycle that is difficult for regional and local retailers to match.",
    "output": "[Cause] creating brand cachet for its own labels, particularly Duralast [Relation] enable [Effect] the company generates traffic in-store",
    "gold": "[Cause] ts sales staff highlights the value of the proprietary brands through customer store visits, creating a self-reinforcing cycle [Relation] cause [Effect] is difficult for regional and local retailers to match",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We project that the organic average overall revenue growth will be in the mid-single digits, driven by mid-single-digit growth in retransmission fees and double-digit even-year spikes in total ad revenue that will be partially offset by slightly lower double-digit odd-year declines in ad revenue.",
    "output": "[Cause] mid-single-digit growth in retransmission fees and double-digit even-year spikes in total ad revenue [Relation] cause [Effect] the organic average overall revenue growth will be in the mid-single digits",
    "gold": "[Cause] slightly lower double-digit odd-year declines in ad revenue [Relation] prevent [Effect] mid-single-digit growth in retransmission fees and double-digit even-year spikes in total ad revenue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We project that the organic average overall revenue growth will be in the mid-single digits, driven by mid-single-digit growth in retransmission fees and double-digit even-year spikes in total ad revenue that will be partially offset by slightly lower double-digit odd-year declines in ad revenue.",
    "output": "[Cause] slightly lower double-digit odd-year declines in ad revenue [Relation] prevent [Effect] the organic average overall revenue growth will be in the mid-single digits",
    "gold": "[Cause] mid-single-digit growth in retransmission fees and double-digit even-year spikes in total ad revenue [Relation] cause [Effect]  the organic average overall revenue growth will be in the mid-single digits",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "It has also assembled an impressive portfolio of seltzers, which should allow it to capture some growth from this secularly advantaged category.",
    "output": "[Cause] assembled an impressive portfolio of seltzers [Relation] enable [Effect] allow it to capture some growth from this secularly advantaged category",
    "gold": "[Cause] assembled an impressive portfolio of seltzers [Relation] cause [Effect] allow it to capture some growth from this secularly advantaged category",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also view the growing service revenue component as stickier and less cyclical, which should help the firm better navigate cyclical troughs.",
    "output": "[Cause] the growing service revenue component as stickier and less cyclical [Relation] enable [Effect] the firm better navigate cyclical troughs",
    "gold": "[Cause] the growing service revenue component as stickier and less cyclical [Relation] enable [Effect] the firm better navigate cyclical troughs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the firm will continue to grow by acquiring smaller technology and analytics companies, and we model continued tuck-in acquisitions through 2029, in line with the company's historical strategy.",
    "output": "[Cause] acquiring smaller technology and analytics companies [Relation] enable [Effect] the firm will continue to grow",
    "gold": "[Cause] acquiring smaller technology and analytics companies [Relation] enable [Effect] the firm will continue to grow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Like other industries, hyperscale cloud players such as Amazon, Microsoft, or Google could alter the competitive dynamics if they chose to enter aggressively.",
    "output": "[Cause] they chose to enter aggressively [Relation] cause [Effect] hyperscale cloud players such as Amazon, Microsoft, or Google could alter the competitive dynamics",
    "gold": "[Cause] they chose to enter aggressively [Relation] enable [Effect]  hyperscale cloud players such as Amazon, Microsoft, or Google could alter the competitive dynamics",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, investors and the market will probably react negatively when the company's loan portfolio starts exhibiting a more normal level of losses from the COVID-19 recession.",
    "output": "[Cause] the company's loan portfolio starts exhibiting a more normal level of losses from the COVID-19 recession [Relation] cause [Effect] investors and the market will probably react negatively",
    "gold": "[Cause]  the COVID-19 recession. [Relation] cause [Effect]  the company's loan portfolio starts exhibiting a more normal level of losses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Balchem is subject to low systematic risk, as cash flows are generally quite stable, revenue cyclicality is low, and financial leverage is manageable.",
    "output": "[Cause] cash flows are generally quite stable, revenue cyclicality is low, and financial leverage is manageable [Relation] cause [Effect] Balchem is subject to low systematic risk",
    "gold": "[Cause] cash flows are generally quite stable, revenue cyclicality is low, and financial leverage is manageable [Relation] cause [Effect] Balchem is subject to low systematic risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We attribute these lackluster returns to the prior management team's decision to prioritize near-term cash flow at the expense of protecting its long-term competitive position.",
    "output": "[Cause] the prior management team's decision to prioritize near-term cash flow at the expense of protecting its long-term competitive position [Relation] cause [Effect] these lackluster returns",
    "gold": "[Cause]  the prior management team's decision to prioritize near-term cash flow at the expense of protecting its long-term competitive position [Relation] cause [Effect]  these lackluster returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its global reach and scale also give it the ability to vie for large cross-border deals that smaller brokerages can't handle.",
    "output": "[Cause] Its global reach and scale [Relation] enable [Effect] give it the ability to vie for large cross-border deals that smaller brokerages can't handle",
    "gold": "[Cause] Its global reach and scale [Relation] cause [Effect] give it the ability to vie for large cross-border deals that smaller brokerages can't handle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Low-cost manufacturers have grown rapidly as they actively compete for the less differentiated commodity generic drugs in the U.S., where regulatory hurdles are lower than in European countries.",
    "output": "[Cause] they actively compete for the less differentiated commodity generic drugs in the U.S. [Relation] cause [Effect] Low-cost manufacturers have grown rapidly",
    "gold": "[Cause] they actively compete for the less differentiated commodity generic drugs in the U.S. [Relation] cause [Effect] Low-cost manufacturers have grown rapidly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Online businesses in the region are already profitable to a large extent due to larger market shares and higher population densities.",
    "output": "[Cause] larger market shares and higher population densities [Relation] cause [Effect] Online businesses in the region are already profitable to a large extent",
    "gold": "[Cause] larger market shares and higher population densities [Relation] cause [Effect] Online businesses in the region are already profitable to a large extent",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Amid weaker Chinese steel demand, we expect China's met coal import needs to decline, particularly once supply-side reforms on domestic coal mines are complete.",
    "output": "[Cause] weaker Chinese steel demand [Relation] cause [Effect] China's met coal import needs to decline",
    "gold": "[Cause] weaker Chinese steel demand [Relation] cause [Effect] China's met coal import needs to decline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Amid weaker Chinese steel demand, we expect China's met coal import needs to decline, particularly once supply-side reforms on domestic coal mines are complete.",
    "output": "[Cause] supply-side reforms on domestic coal mines are complete [Relation] cause [Effect] China's met coal import needs to decline",
    "gold": "[Cause] supply-side reforms on domestic coal mines are complete [Relation] cause [Effect] China's met coal import needs to decline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As these customers have multiple policies for a car (or two), a home, and possibly a boat, price shopping becomes more burdensome, making them less likely to switch companies in order to save a small amount on premiums.",
    "output": "[Cause] price shopping becomes more burdensome [Relation] cause [Effect] making them less likely to switch companies in order to save a small amount on premiums",
    "gold": "[Cause] price shopping becomes more burdensome [Relation] cause [Effect] making them less likely to switch companies in order to save a small amount on premiums",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "California's regulatory environment has remained constructive for Sempra, as its emphasis on distribution-related safety and reliability infrastructure upgrades aligns well with the state's regulatory priorities.",
    "output": "[Cause] its emphasis on distribution-related safety and reliability infrastructure upgrades aligns well with the state's regulatory priorities [Relation] cause [Effect] California's regulatory environment has remained constructive for Sempra",
    "gold": "[Cause]  its emphasis on distribution-related safety and reliability infrastructure upgrades aligns well with the state's regulatory priorities [Relation] cause [Effect] California's regulatory environment has remained constructive for Sempra",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 1980, more than 40 Class I rails operated across North America, and today there are only seven; by definition, a Class I rail generates at least $475 million of revenue. Consequently, a single railroad often serves an end-of-the-line shipper, only two railroads operate in most regions, and the rails have been able to reinvest while becoming quite profitable.",
    "output": "[Cause] In 1980, more than 40 Class I rails operated across North America, and today there are only seven; by definition, a Class I rail generates at least $475 million of revenue [Relation] cause [Effect] a single railroad often serves an end-of-the-line shipper, only two railroads operate in most regions, and the rails have been able to reinvest while becoming quite profitable",
    "gold": "[Cause] In 1980, more than 40 Class I rails operated across North America, and today there are only seven; by definition, a Class I rail generates at least $475 million of revenue [Relation] cause [Effect] a single railroad often serves an end-of-the-line shipper, only two railroads operate in most regions, and the rails have been able to reinvest while becoming quite profitable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a whole, Altice USA looks similar to its cable peers, using its network advantage to steadily increase data speeds in recent years and claim more than half the Internet access market in the territories it serves.",
    "output": "[Cause] using its network advantage to steadily increase data speeds in recent years [Relation] enable [Effect] more than half the Internet access market in the territories it serves",
    "gold": "[Cause] using its network advantage to steadily increase data speeds in recent years [Relation] enable [Effect] more than half the Internet access market in the territories it serves",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company benefits from a large installed base of public utility customers, which fuels robust aftermarket revenue on the operating expense side.",
    "output": "[Cause] The company benefits from a large installed base of public utility customers [Relation] enable [Effect] robust aftermarket revenue on the operating expense side",
    "gold": "[Cause] The company benefits from a large installed base of public utility customers [Relation] enable [Effect] robust aftermarket revenue on the operating expense side",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The region's operating margins were just 5.5% in 2020, given pandemic disruption, but we think as the market normalizes with the growing availability of vaccines, margins will rebound to 7.0%, 8.5%, and 9.5% in 2021, 2022, and long term, respectively.",
    "output": "[Cause] pandemic disruption [Relation] cause [Effect] The region's operating margins were just 5.5% in 2020",
    "gold": "[Cause]  pandemic disruption [Relation] cause [Effect] The region's operating margins were just 5.5% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect selling, general, and administrative costs to decrease over our discrete forecast period but remain above pre-pandemic levels, as Myriad plans to break into the primary care market with GeneSight by aggressively expanding its salesforce.",
    "output": "[Cause] aggressively expanding its salesforce [Relation] cause [Effect] Myriad plans to break into the primary care market with GeneSight",
    "gold": "[Cause] Myriad plans to break into the primary care market with GeneSight [Relation] cause [Effect] remain above pre-pandemic levels",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect selling, general, and administrative costs to decrease over our discrete forecast period but remain above pre-pandemic levels, as Myriad plans to break into the primary care market with GeneSight by aggressively expanding its salesforce.",
    "output": "[Cause] aggressively expanding its salesforce [Relation] cause [Effect] Myriad plans to break into the primary care market with GeneSight",
    "gold": "[Cause] aggressively expanding its salesforce [Relation] enable [Effect] Myriad plans to break into the primary care market with GeneSight",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, if COVID-19 stays prevalent longer than we anticipate, some hardware could be laid up over an extended duration, hindering profits.",
    "output": "[Cause] COVID-19 stays prevalent longer than we anticipate [Relation] cause [Effect] some hardware could be laid up over an extended duration, hindering profits",
    "gold": "[Cause] COVID-19 stays prevalent longer than we anticipate [Relation] cause [Effect] some hardware could be laid up over an extended duration, hindering profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're positive on this business, given management's work to customize solutions to customer specifications, while also infusing more technology and precision into products.",
    "output": "[Cause] management's work to customize solutions to customer specifications, while also infusing more technology and precision into products [Relation] cause [Effect] We're positive on this business",
    "gold": "[Cause] management's work to customize solutions to customer specifications, while also infusing more technology and precision into products [Relation] cause [Effect] We're positive on this business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In carving out a sizable premium niche, the company has aligned its product strategy with the needs of the highly fragmented trucking industry, which uses such vehicles as recruitment and retention tools.  This strategy enabled Paccar to gain North American class 8 truck market share, which has increased from 23% in 2005 to 30% in 2020.",
    "output": "[Cause] In carving out a sizable premium niche, the company has aligned its product strategy with the needs of the highly fragmented trucking industry, which uses such vehicles as recruitment and retention tools [Relation] enable [Effect] Paccar to gain North American class 8 truck market share, which has increased from 23% in 2005 to 30% in 2020",
    "gold": "[Cause] In carving out a sizable premium niche, the company has aligned its product strategy with the needs of the highly fragmented trucking industry, which uses such vehicles as recruitment and retention tools [Relation] enable [Effect] Paccar to gain North American class 8 truck market share, which has increased from 23% in 2005 to 30% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Like most transportation and logistics firms, Hub is exposed to the health of the North American economy because it serves a variety of industrial and retail end markets.",
    "output": "[Cause] it serves a variety of industrial and retail end markets [Relation] cause [Effect] Hub is exposed to the health of the North American economy",
    "gold": "[Cause] it serves a variety of industrial and retail end markets [Relation] cause [Effect]  Hub is exposed to the health of the North American economy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result of the ruling and the increased politicization of American society, ad revenue has begun to spike in even-numbered years with larger growth in presidential election years.",
    "output": "[Cause] the ruling and the increased politicization of American society [Relation] cause [Effect] ad revenue has begun to spike in even-numbered years with larger growth in presidential election years",
    "gold": "[Cause] the ruling and the increased politicization of American society [Relation] cause [Effect] ad revenue has begun to spike in even-numbered years with larger growth in presidential election years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Credit losses will be one of the key variables as the economy recovers from the pandemic, and we currently project that the large reserve builds are now behind Wells--and we will see reserve releases going forward as credit losses are ultimately lower than what was initially expected.",
    "output": "[Cause] the economy recovers from the pandemic [Relation] cause [Effect] Credit losses will be one of the key variables",
    "gold": "[Cause] the economy recovers from the pandemic [Relation] enable [Effect] Credit losses will be one of the key variables | the large reserve builds are now behind Wells",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Credit losses will be one of the key variables as the economy recovers from the pandemic, and we currently project that the large reserve builds are now behind Wells--and we will see reserve releases going forward as credit losses are ultimately lower than what was initially expected.",
    "output": "[Cause] credit losses are ultimately lower than what was initially expected [Relation] cause [Effect] reserve releases going forward",
    "gold": "[Cause] credit losses are ultimately lower than what was initially expected [Relation] enable [Effect] reserve releases going forward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Historically, locations like these are highly sought after by any retailer, and Simon has been able to leverage the overall size of its portfolio by insisting that retailers put stores in lesser-quality assets in order to gain access to the best-quality ones.",
    "output": "[Cause] insisting that retailers put stores in lesser-quality assets in order to gain access to the best-quality ones [Relation] enable [Effect] Simon has been able to leverage the overall size of its portfolio",
    "gold": "[Cause] Simon has been able to leverage the overall size of its portfolio by insisting that retailers put stores in lesser-quality assets [Relation] cause [Effect] gain access to the best-quality ones",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Its low cost portfolio gives it high return investment options to grow in a rising price environment while its strong financial position keeps the dividend safe in a downcycle.",
    "output": "[Cause] Its low cost portfolio [Relation] enable [Effect] high return investment options to grow in a rising price environment",
    "gold": "[Cause] Its low cost portfolio [Relation] enable [Effect] high return investment options to grow in a rising price environment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its low cost portfolio gives it high return investment options to grow in a rising price environment while its strong financial position keeps the dividend safe in a downcycle.",
    "output": "[Cause] its strong financial position [Relation] enable [Effect] the dividend safe in a downcycle",
    "gold": "[Cause]  its strong financial position [Relation] enable [Effect] the dividend safe in a downcycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The increase in total student enrolments of normal priced long-term courses was primarily the result of the growth of enrolments in the small class offerings and online courses.",
    "output": "[Cause] the growth of enrolments in the small class offerings and online courses [Relation] cause [Effect] The increase in total student enrolments of normal priced long-term courses",
    "gold": "[Cause]  the growth of enrolments in the small class offerings and online courses [Relation] cause [Effect] The increase in total student enrolments of normal priced long-term courses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite having one of the larger domestic branch networks, CIBC's products haven't typically had top share in Canada, though the bank had made significant strides in multiple categories for years starting in 2011, as the bank increased share in multiple categories and increased product numbers per customer.",
    "output": "[Cause] the bank increased share in multiple categories and increased product numbers per customer [Relation] cause [Effect] the bank had made significant strides in multiple categories for years starting in 2011",
    "gold": "[Cause]  the bank increased share in multiple categories and increased product numbers per customer [Relation] cause [Effect] the bank had made significant strides in multiple categories for years starting in 2011",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ormat's power plants can offer power around the clock, which not only improves reliability planning but also leads to more efficient utilization of grid resources, helping to offset improving costs for alternative resources.",
    "output": "[Cause] Ormat's power plants can offer power around the clock [Relation] enable [Effect] not only improves reliability planning but also leads to more efficient utilization of grid resources",
    "gold": "[Cause] Ormat's power plants can offer power around the clock [Relation] cause [Effect] not only improves reliability planning but also leads to more efficient utilization of grid resources",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ormat's power plants can offer power around the clock, which not only improves reliability planning but also leads to more efficient utilization of grid resources, helping to offset improving costs for alternative resources.",
    "output": "[Cause] Ormat's power plants can offer power around the clock [Relation] cause [Effect] more efficient utilization of grid resources",
    "gold": "[Cause] Ormat's power plants can offer power around the clock [Relation] enable [Effect] offset improving costs for alternative resources",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, Allstate has historically had a differentiated model through its use of captive agents and its bundling strategy.",
    "output": "[Cause] its use of captive agents and its bundling strategy [Relation] enable [Effect] Allstate has historically had a differentiated model",
    "gold": "[Cause] its use of captive agents and its bundling strategy [Relation] cause [Effect] Allstate has historically had a differentiated model",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to AMD's cumbersome wafer supply agreements with GlobalFoundries (AMD's manufacturing arm, which was spun out in 2007), AMD was locked into fixed number of wafers from a lagging-edge foundry, which made it difficult for AMD to compete with Intel's products, even though both were x86-based.",
    "output": "[Cause] AMD was locked into fixed number of wafers from a lagging-edge foundry [Relation] cause [Effect] it difficult for AMD to compete with Intel's products",
    "gold": "[Cause] AMD was locked into fixed number of wafers from a lagging-edge foundry [Relation] enable [Effect] it difficult for AMD to compete with Intel's products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, since Textron is moving away from the markets its traditionally competed in, it faces the risk of building an invested capital base on failed projects.",
    "output": "[Cause] Textron is moving away from the markets its traditionally competed in [Relation] cause [Effect] it faces the risk of building an invested capital base on failed projects",
    "gold": "[Cause] Textron is moving away from the markets its traditionally competed in [Relation] cause [Effect]  it faces the risk of building an invested capital base on failed projects",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Public Storage's portfolio incorporates newer and less lucrative facilities, we see occupancy rates falling within the next few years.",
    "output": "[Cause] Public Storage's portfolio incorporates newer and less lucrative facilities [Relation] cause [Effect] occupancy rates falling within the next few years",
    "gold": "[Cause]  Public Storage's portfolio incorporates newer and less lucrative facilities [Relation] enable [Effect] occupancy rates falling within the next few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Equinix can expand its adjusted EBITDA margin as it gradually shifts to owning more of its property, reducing rent expense.",
    "output": "[Cause] it gradually shifts to owning more of its property, reducing rent expense [Relation] cause [Effect] Equinix can expand its adjusted EBITDA margin",
    "gold": "[Cause]  shifts to owning more of its property [Relation] cause [Effect] reducing rent expense",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Microsoft is strong generally in the planning tools market, and has seen a further uptick as Azure has caught fire over the last couple of years.",
    "output": "[Cause] Azure has caught fire over the last couple of years [Relation] cause [Effect] Microsoft is strong generally in the planning tools market, and has seen a further uptick",
    "gold": "[Cause] Azure has caught fire over the last couple of years [Relation] cause [Effect] Microsoft is strong generally in the planning tools market, and has seen a further uptick",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This is because weak macroeconomics (resulting in weaker demand and pricing for ads), a substantial increase in ad inventory by Bytedance and Tencent, moving customers' landing pages to Baidu's platform, and COVID-19 play an important role in the current weakness.",
    "output": "[Cause] weak macroeconomics (resulting in weaker demand and pricing for ads), a substantial increase in ad inventory by Bytedance and Tencent, moving customers' landing pages to Baidu's platform, and COVID-19 [Relation] cause [Effect] the current weakness",
    "gold": "[Cause] weak macroeconomics (resulting in weaker demand and pricing for ads), a substantial increase in ad inventory by Bytedance and Tencent, moving customers' landing pages to Baidu's platform, and COVID-19 [Relation] cause [Effect]  the current weakness",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Oil spills are an ever-present risk for oil companies operating offshore and can be devastating to firm value, as BP's 2010 Macondo incident in the Gulf of Mexico shows.",
    "output": "[Cause] Oil spills [Relation] cause [Effect] devastating to firm value",
    "gold": "[Cause] BP's 2010 Macondo incident in the Gulf of Mexico shows [Relation] cause [Effect] Oil spills are an ever-present risk for oil companies operating offshore and can be devastating to firm value",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Local scale advantages allow for greater negotiating leverage versus service providers than smaller insurers in each community, which contributes to cost advantages in each specific location.",
    "output": "[Cause] Local scale advantages [Relation] enable [Effect] cost advantages in each specific location",
    "gold": "[Cause] greater negotiating leverage [Relation] enable [Effect]  cost advantages in each specific location",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With management fees expected to continue to be pressured by industry dynamics and ongoing mix shift, we have revenue growing at a positive 3.6% CAGR during 2021-25.",
    "output": "[Cause] management fees expected to continue to be pressured by industry dynamics and ongoing mix shift [Relation] cause [Effect] we have revenue growing at a positive 3.6% CAGR during 2021-25",
    "gold": "[Cause] management fees expected to continue to be pressured by industry dynamics and ongoing mix shift [Relation] cause [Effect] we have revenue growing at a positive 3.6% CAGR during 2021-25",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the tenants are not threatened by e-commerce or the possibility of economic recessions, then they should be able to increase their cash flow at least at inflationary levels.",
    "output": "[Cause] the tenants are not threatened by e-commerce or the possibility of economic recessions [Relation] cause [Effect] increase their cash flow at least at inflationary levels",
    "gold": "[Cause] the tenants are not threatened by e-commerce or the possibility of economic recessions [Relation] enable [Effect] increase their cash flow at least at inflationary levels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Margins on iQOS are likely to be lower in the immediate term, due to low margin devices, higher customer acquisition costs, and less economies of scale.",
    "output": "[Cause] low margin devices, higher customer acquisition costs, and less economies of scale [Relation] cause [Effect] Margins on iQOS are likely to be lower in the immediate term",
    "gold": "[Cause] low margin devices, higher customer acquisition costs, and less economies of scale [Relation] cause [Effect] Margins on iQOS are likely to be lower in the immediate term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite the slowdown in instrument placement during 2020, we still expect Idexx's aggressive placement to resume once the pandemic has eased, and this should lead to a steady stream of consumable revenue growth that normalizes in the low double digits.",
    "output": "[Cause] the pandemic has eased [Relation] cause [Effect] Idexx's aggressive placement to resume",
    "gold": "[Cause] Idexx's aggressive placement to resume once the pandemic has eased [Relation] enable [Effect] a steady stream of consumable revenue growth that normalizes in the low double digits",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Those assumptions assume commercially insured admissions grow at a materially slower pace than government-based programs due to potential elective surgery delays in the near term and the ongoing aging of the population.",
    "output": "[Cause] potential elective surgery delays in the near term and the ongoing aging of the population [Relation] cause [Effect] commercially insured admissions grow at a materially slower pace than government-based programs",
    "gold": "[Cause]  potential elective surgery delays in the near term and the ongoing aging of the population [Relation] cause [Effect] commercially insured admissions grow at a materially slower pace than government-based programs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Walgreens has incurred most of the operating and capital investments to successfully complete numerous clinical and consumer packaged goods trials.",
    "output": "[Cause] Walgreens has incurred most of the operating and capital investments [Relation] enable [Effect] successfully complete numerous clinical and consumer packaged goods trials",
    "gold": "[Cause] Walgreens has incurred most of the operating and capital investments [Relation] cause [Effect] successfully complete numerous clinical and consumer packaged goods trials",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While 2020 will still present COVID-19 related disruptions, we find management's longer-term goals of high-single-digit system sales growth, 17% restaurant margins, and low- to midteens EPS growth realistic (if not slightly conservative) given favorable China consumer demographic trends and the operating leverage inherent in its business model.",
    "output": "[Cause] given favorable China consumer demographic trends and the operating leverage inherent in its business model [Relation] cause [Effect] management's longer-term goals of high-single-digit system sales growth, 17% restaurant margins, and low- to midteens EPS growth realistic (if not slightly conservative)",
    "gold": "[Cause] present COVID-19 related disruptions, we find management's longer-term goals of high-single-digit system sales growth, 17% restaurant margins, and low- to midteens EPS gro [Relation] cause [Effect] listic (if not slightly conservative) given favorable China consumer demographic trends and the operating leverage inherent in its business model.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Like all regulated utilities, the company's regulated utilities face the risk of an inflationary environment that would raise borrowing costs and make other investments more attractive for income-seeking investors.",
    "output": "[Cause] the company's regulated utilities face the risk of an inflationary environment [Relation] cause [Effect] raise borrowing costs and make other investments more attractive for income-seeking investors",
    "gold": "[Cause]  the company's regulated utilities face the risk of an inflationary environment [Relation] cause [Effect]  raise borrowing costs and make other investments more attractive for income-seeking investors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If existing applications are involved in the transfer process, they often have to run parallel to the new software as data migrates over, creating duplicate costs as the company has to pay two vendors.",
    "output": "[Cause] existing applications are involved in the transfer process, they often have to run parallel to the new software as data migrates over [Relation] cause [Effect] creating duplicate costs as the company has to pay two vendors",
    "gold": "[Cause] the company has to pay two vendors [Relation] cause [Effect] transfer process | often have to run parallel to the new software as data migrates over, creating duplicate costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We grant Compass Group a medium uncertainty rating, as recurring revenue streams mitigate the effect of cyclicality on the company's consolidated cash flows.",
    "output": "[Cause] recurring revenue streams mitigate the effect of cyclicality on the company's consolidated cash flows [Relation] cause [Effect] We grant Compass Group a medium uncertainty rating",
    "gold": "[Cause] recurring revenue streams mitigate the effect of cyclicality on the company's consolidated cash flows [Relation] cause [Effect] We grant Compass Group a medium uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, we believe that possible gains in edge computing may impact HPE's server business demand, and we do not believe the intelligent edge segment is a sustainable source of excess returns.",
    "output": "[Cause] possible gains in edge computing [Relation] cause [Effect] impact HPE's server business demand",
    "gold": "[Cause] possible gains in edge computing [Relation] cause [Effect] impact HPE's server business demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These technology developments have helped the firm achieve over 25 million active users on their rewards app (active defined as a customer who ordered through the loyalty program within the last six months) and in turn facilitated the shift of sales to digital platforms (more than 75% of U.S.",
    "output": "[Cause] These technology developments [Relation] enable [Effect] the firm achieve over 25 million active users on their rewards app",
    "gold": "[Cause] These technology developments [Relation] enable [Effect] the firm achieve over 25 million active users on their rewards app",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These technology developments have helped the firm achieve over 25 million active users on their rewards app (active defined as a customer who ordered through the loyalty program within the last six months) and in turn facilitated the shift of sales to digital platforms (more than 75% of U.S.",
    "output": "[Cause] These technology developments [Relation] enable [Effect] the firm achieve over 25 million active users on their rewards app",
    "gold": "[Cause] These technology developments [Relation] enable [Effect] facilitated the shift of sales to digital platforms",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although many of these instruments are compatible with consumables from third-party manufacturers, customers generally source these consumables from Bio-Techne however, to limit the number of suppliers, and because Bio-Techne consumables are likely to run effectively on Bio-Techne instruments.",
    "output": "[Cause] Bio-Techne consumables are likely to run effectively on Bio-Techne instruments [Relation] cause [Effect] customers generally source these consumables from Bio-Techne however, to limit the number of suppliers",
    "gold": "[Cause] customers generally source these consumables from Bio-Techne however [Relation] cause [Effect] limit the number of suppliers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Depressed realized prices have stalled the growth potential of Suncor's additional oil sands assets, as proposed expansion projects still require high levels of capital spending.",
    "output": "[Cause] proposed expansion projects still require high levels of capital spending [Relation] cause [Effect] Depressed realized prices have stalled the growth potential of Suncor's additional oil sands assets",
    "gold": "[Cause]  proposed expansion projects still require high levels of capital spending [Relation] prevent [Effect] Depressed realized prices have stalled the growth potential of Suncor's additional oil sands assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Specifically, we expect about 2% claims growth to be somewhat offset by pricing pressure, as new competitors could enter the fray, such as Amazon.",
    "output": "[Cause] new competitors could enter the fray, such as Amazon [Relation] cause [Effect] about 2% claims growth to be somewhat offset by pricing pressure",
    "gold": "[Cause] new competitors could enter the fray, such as Amazon [Relation] cause [Effect]  about 2% claims growth to be somewhat offset by pricing pressure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Healthy system and instrument pricing reflects the firm's monopoly status in its niche, allowing Intuitive Surgical to achieve profitability rarely enjoyed by medical equipment makers, with adjusted operating margins in the low-30s.",
    "output": "[Cause] Healthy system and instrument pricing reflects the firm's monopoly status in its niche [Relation] enable [Effect] Intuitive Surgical to achieve profitability rarely enjoyed by medical equipment makers, with adjusted operating margins in the low-30s",
    "gold": "[Cause] Healthy system and instrument pricing reflects the firm's monopoly status in its niche [Relation] enable [Effect]  Intuitive Surgical to achieve profitability rarely enjoyed by medical equipment makers, with adjusted operating margins in the low-30s",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Without meaningful switching costs to Synchrony's partnership agreements, we do not see a way for Synchrony to retain high-margin business in its retail card segment without its partners attracting competitive bids from Synchrony's rivals.",
    "output": "[Cause] Without meaningful switching costs to Synchrony's partnership agreements [Relation] prevent [Effect] see a way for Synchrony to retain high-margin business in its retail card segment without its partners attracting competitive bids from Synchrony's rivals",
    "gold": "[Cause] Without meaningful switching costs to Synchrony's partnership agreements [Relation] prevent [Effect] see a way for Synchrony to retain high-margin business in its retail card segment without its partners attracting competitive bids from Synchrony's rivals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Process technology leadership not only enables TSMC to improve power, (faster) performance and (smaller) area, or PPA, and the cost of each chip, which are critical for the performance of computing devices, but also justifies higher prices than its peers.",
    "output": "[Cause] Process technology leadership [Relation] enable [Effect] TSMC to improve power, (faster) performance and (smaller) area, or PPA, and the cost of each chip",
    "gold": "[Cause] Process technology leadership [Relation] enable [Effect] justifies higher prices than its peers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, the firm's cost-conscious culture and stable AUM and revenue levels have allowed it to consistently generate operating margins in excess of 35% (one of the highest levels among the U.S.-based asset managers).",
    "output": "[Cause] the firm's cost-conscious culture and stable AUM and revenue levels [Relation] enable [Effect] consistently generate operating margins in excess of 35% (one of the highest levels among the U.S.-based asset managers)",
    "gold": "[Cause] the firm's cost-conscious culture and stable AUM and revenue levels [Relation] cause [Effect] consistently generate operating margins in excess of 35% (one of the highest levels among the U.S.-based asset managers)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "All in all, OEMs and Tier 1 suppliers will gladly pay more for Amphenol's innovative content in order to bring new capabilities to market.",
    "output": "[Cause] OEMs and Tier 1 suppliers will gladly pay more for Amphenol's innovative content [Relation] enable [Effect] bring new capabilities to market",
    "gold": "[Cause] bring new capabilities to market [Relation] cause [Effect] OEMs and Tier 1 suppliers will gladly pay more for Amphenol's innovative content",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We model InterContinental's annual room growth at over 3% for the next 10 years, comfortably above the industry's long-term supply growth of 1.8%, as we believe InterContinental is well positioned for market share gains over the next decade.",
    "output": "[Cause] InterContinental is well positioned for market share gains over the next decade [Relation] cause [Effect] We model InterContinental's annual room growth at over 3% for the next 10 years, comfortably above the industry's long-term supply growth of 1.8%",
    "gold": "[Cause] InterContinental is well positioned for market share gains over the next decade [Relation] cause [Effect] We model InterContinental's annual room growth at over 3% for the next 10 years, comfortably above the industry's long-term supply growth of 1.8%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the contracts offer little in the way of volume protection in our view, and more volatile volumes due to COVID-19 and the OPEC+ breakdown reduces asset efficiency, utilization, and returns.",
    "output": "[Cause] more volatile volumes due to COVID-19 and the OPEC+ breakdown [Relation] cause [Effect] reduces asset efficiency, utilization, and returns",
    "gold": "[Cause] COVID-19 and the OPEC+ breakdown reduces asset efficiency, utilization, and returns [Relation] cause [Effect]  more volatile volumes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We like BBVA's presence in the Sunbelt states of the U.S., as it increases switching costs for the group as a whole.",
    "output": "[Cause] it increases switching costs for the group as a whole [Relation] cause [Effect] We like BBVA's presence in the Sunbelt states of the U.S",
    "gold": "[Cause] it increases switching costs for the group as a whole [Relation] cause [Effect] We like BBVA's presence in the Sunbelt states of the U.S",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Steel is subject to a very high degree of operating leverage and therefore tends to experience more substantial earnings volatility than most of its peers as capacity utilization rates fluctuate.",
    "output": "[Cause] Steel is subject to a very high degree of operating leverage [Relation] cause [Effect] experience more substantial earnings volatility than most of its peers as capacity utilization rates fluctuate",
    "gold": "[Cause] Steel is subject to a very high degree of operating leverage [Relation] cause [Effect] experience more substantial earnings volatility than most of its peers as capacity utilization rates fluctuate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Online retailers have been growing market share within the home improvement industry, eroding the benefits of distributors being aggregators of demand.",
    "output": "[Cause] Online retailers have been growing market share within the home improvement industry [Relation] cause [Effect] eroding the benefits of distributors being aggregators of demand",
    "gold": "[Cause] Online retailers have been growing market share within the home improvement industry [Relation] cause [Effect] eroding the benefits of distributors being aggregators of demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our margin forecast is based on more normalized weather conditions medium-term price increases outpacing cost inflation, and higher volume providing some leverage over fixed costs (mostly depreciation, depletion, and amortization).",
    "output": "[Cause] more normalized weather conditions medium-term price increases outpacing cost inflation, and higher volume providing some leverage over fixed costs (mostly depreciation, depletion, and amortization) [Relation] cause [Effect] Our margin forecast",
    "gold": "[Cause] more normalized weather conditions medium-term price increases outpacing cost inflation, and higher volume providing some leverage over fixed costs (mostly depreciation, depletion, and amortization) [Relation] enable [Effect] Our margin forecast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As FireEye shifts from physical products to cloud subscriptions and managed services, we model consolidated GAAP gross margins to expand to 68% in 2024 compared with 65% in 2019.",
    "output": "[Cause] FireEye shifts from physical products to cloud subscriptions and managed services [Relation] cause [Effect] we model consolidated GAAP gross margins to expand to 68% in 2024 compared with 65% in 2019",
    "gold": "[Cause] FireEye shifts from physical products to cloud subscriptions and managed services [Relation] enable [Effect] we model consolidated GAAP gross margins to expand to 68% in 2024 compared with 65% in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While others, including US Foods, have failed to disclose this metric, we doubt competitors are able to match these high service levels, given their relative lack of resources.",
    "output": "[Cause] their relative lack of resources [Relation] cause [Effect] we doubt competitors are able to match these high service levels",
    "gold": "[Cause] their relative lack of resources [Relation] cause [Effect] we doubt competitors are able to match these high service levels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even though HP may garner some success in the graphics market as firms move away from offset printing, we believe pricing will dictate customer decisions as more vendors sell digital graphic printers.",
    "output": "[Cause] firms move away from offset printing [Relation] cause [Effect] HP may garner some success in the graphics market",
    "gold": "[Cause] more vendors sell digital graphic printers [Relation] cause [Effect] pricing will dictate customer decisions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Even though HP may garner some success in the graphics market as firms move away from offset printing, we believe pricing will dictate customer decisions as more vendors sell digital graphic printers.",
    "output": "[Cause] more vendors sell digital graphic printers [Relation] cause [Effect] pricing will dictate customer decisions",
    "gold": "[Cause] firms move away from offset printing [Relation] cause [Effect] HP may garner some success in the graphics market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, shortly after the lease commenced, the federal government began to make cuts to Medicare and Medicaid reimbursement increases, reducing revenue growth and reducing profits to an even greater degree due to the thin margins for the industry.",
    "output": "[Cause] the thin margins for the industry [Relation] cause [Effect] the federal government began to make cuts to Medicare and Medicaid reimbursement increases, reducing revenue growth and reducing profits to an even greater degree",
    "gold": "[Cause]  the thin margins for the industry [Relation] cause [Effect]  the federal government began to make cuts to Medicare and Medicaid reimbursement increases, reducing revenue growth and reducing profits to an even greater degree",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Apple is not immune to these pitfalls, as consumer sentiment for technology gadgets can be unforgiving, with one buggy or subpar product potentially driving customers to other companies' offerings, which have been increasingly competitive.",
    "output": "[Cause] consumer sentiment for technology gadgets can be unforgiving, with one buggy or subpar product potentially driving customers to other companies' offerings, which have been increasingly competitive [Relation] cause [Effect] Apple is not immune to these pitfalls",
    "gold": "[Cause] one buggy or subpar product [Relation] enable [Effect] driving customers to other companies' offerings",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Since 2014, Caterpillar has taken steps to reduce structural costs and its fixed asset base by implementing cost management initiatives and by either closing or consolidating numerous facilities, reducing its manufacturing floorspace considerably.",
    "output": "[Cause] implementing cost management initiatives [Relation] enable [Effect] reduce structural costs and its fixed asset base",
    "gold": "[Cause] implementing cost management initiatives [Relation] enable [Effect] reduce structural costs and its fixed asset base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since 2014, Caterpillar has taken steps to reduce structural costs and its fixed asset base by implementing cost management initiatives and by either closing or consolidating numerous facilities, reducing its manufacturing floorspace considerably.",
    "output": "[Cause] either closing or consolidating numerous facilities [Relation] enable [Effect] reduce structural costs and its fixed asset base",
    "gold": "[Cause] either closing or consolidating numerous facilities [Relation] enable [Effect] reduce structural costs and its fixed asset base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since 2014, Caterpillar has taken steps to reduce structural costs and its fixed asset base by implementing cost management initiatives and by either closing or consolidating numerous facilities, reducing its manufacturing floorspace considerably.",
    "output": "[Cause] either closing or consolidating numerous facilities [Relation] enable [Effect] reducing its manufacturing floorspace considerably",
    "gold": "[Cause] reducing its manufacturing floorspace considerably [Relation] enable [Effect] reduce structural costs and its fixed asset base",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For the near term, we still see stronger growth in diagnostics thanks to demand for SARS-CoV-2 tests, Freestyle Libre supported by the launch of Libre 2, and pediatric nutritionals that remain largely impervious to macroeconomic conditions.",
    "output": "[Cause] demand for SARS-CoV-2 tests, Freestyle Libre supported by the launch of Libre 2, and pediatric nutritionals that remain largely impervious to macroeconomic conditions [Relation] cause [Effect] stronger growth in diagnostics",
    "gold": "[Cause] demand for SARS-CoV-2 tests, Freestyle Libre supported by the launch of Libre 2, and pediatric nutritionals that remain largely impervious to macroeconomic conditions [Relation] enable [Effect] stronger growth in diagnostics",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Once an existing kiln or quarry is present in a region, the likelihood of authorities permitting additional capacity is extremely unlikely.",
    "output": "[Cause] an existing kiln or quarry is present in a region [Relation] cause [Effect] the likelihood of authorities permitting additional capacity is extremely unlikely",
    "gold": "[Cause] an existing kiln or quarry is present in a region [Relation] cause [Effect] the likelihood of authorities permitting additional capacity is extremely unlikely",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Sysco's consolidated revenue will decline over the next year (until the June 2021 quarter), as COVID-19 concerns curtail away-from-home food consumption.",
    "output": "[Cause] COVID-19 concerns curtail away-from-home food consumption [Relation] cause [Effect] Sysco's consolidated revenue will decline over the next year",
    "gold": "[Cause] COVID-19 concerns curtail away-from-home food consumption [Relation] cause [Effect]  Sysco's consolidated revenue will decline over the next year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that the acquisition of eMaint, a leading SaaS-based computerized maintenance management software provider, will allow Fluke to enhance customer loyalty and increase switching costs by offering an integrated package combining wireless tools with software.",
    "output": "[Cause] offering an integrated package combining wireless tools with software [Relation] enable [Effect] Fluke to enhance customer loyalty and increase switching costs",
    "gold": "[Cause] the acquisition of eMaint [Relation] enable [Effect] allow Fluke to enhance customer loyalty and increase switching costs by offering an integrated package combining wireless tools with software",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We anticipate Cooper will likely experience softness into 2021 due to the COVID-19 pandemic, but will beneft from pent-up demand in the latter half of the year.",
    "output": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] Cooper will likely experience softness into 2021",
    "gold": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] Cooper will likely experience softness into 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although its e-commerce has soared during the pandemic (we project it will grow to 30% of sales this year from 16% last year), we think Dick's large base of about 850 stores limits its flexibility.",
    "output": "[Cause] Dick's large base of about 850 stores [Relation] prevent [Effect] its flexibility",
    "gold": "[Cause] Dick's large base of about 850 stores [Relation] prevent [Effect]  its flexibility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we believe footprint optimization and completing the IXYS integration will be beneficial, we believe new sensor ramps will limit margins expanding much further on a sustained basis.",
    "output": "[Cause] new sensor ramps [Relation] prevent [Effect] margins expanding much further on a sustained basis",
    "gold": "[Cause] new sensor ramps [Relation] prevent [Effect] margins expanding much further on a sustained basis",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given its engineering teams already know the ins and outs of the products in question, Littelfuse is better suited to co-develop new iterations or accommodate modifications, providing a greater and more immediate value-add than a potential replacement, who would need time to learn the reins.",
    "output": "[Cause] its engineering teams already know the ins and outs of the products in question [Relation] cause [Effect] Littelfuse is better suited to co-develop new iterations or accommodate modifications",
    "gold": "[Cause] its engineering teams already know the ins and outs of the products in question [Relation] cause [Effect] Littelfuse is better suited to co-develop new iterations or accommodate modifications",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Outflows can vary based on the number of enrollees and how those enrollees access care, so Medicaid spending can fluctuate year to year based on the utilization of this program, which is typically countercyclical.",
    "output": "[Cause] the number of enrollees and how those enrollees access care [Relation] cause [Effect] Outflows can vary",
    "gold": "[Cause] the number of enrollees and how those enrollees access care [Relation] cause [Effect] Outflows can vary",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Low vessel utilization will drive lower pricing and margins for all companies in the market as new contracts are signed in coming years.",
    "output": "[Cause] new contracts are signed in coming years [Relation] cause [Effect] Low vessel utilization will drive lower pricing and margins for all companies in the market",
    "gold": "[Cause]  new contracts are signed in coming years [Relation] cause [Effect] Low vessel utilization will drive lower pricing and margins for all companies in the market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There is little incentive for clients who prioritize getting equipment back up and running as quickly as possible to switch to an unproven supplier, as down time from a delay translates to cost without revenue.",
    "output": "[Cause] down time from a delay translates to cost without revenue [Relation] cause [Effect] There is little incentive for clients who prioritize getting equipment back up and running as quickly as possible to switch to an unproven supplier",
    "gold": "[Cause] down time from a delay translates to cost without revenue [Relation] enable [Effect] There is little incentive for clients who prioritize getting equipment back up and running as quickly as possible to switch to an unproven supplier",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Historically, Valero has held an advantage thanks to its system of 14 refineries that is more complex than competitors', allowing it to process lower-quality feedstock into a high-value product.",
    "output": "[Cause] its system of 14 refineries that is more complex than competitors' [Relation] enable [Effect] Valero has held an advantage",
    "gold": "[Cause] more complex than competitors' [Relation] enable [Effect] process lower-quality feedstock into a high-value product",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This openness to any provider, willingness to add new entrants, and lower priced hardware has attracted users to the Roku platform.",
    "output": "[Cause] This openness to any provider, willingness to add new entrants, and lower priced hardware [Relation] enable [Effect] attracted users to the Roku platform",
    "gold": "[Cause] This openness to any provider, willingness to add new entrants, and lower priced hardware [Relation] cause [Effect] attracted users to the Roku platform",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the increasing use of automation in Accenture's processes may result in lower utilization rates if Accenture can't best predict its personnel needs.",
    "output": "[Cause] the increasing use of automation in Accenture's processes [Relation] cause [Effect] lower utilization rates",
    "gold": "[Cause] the increasing use of automation in Accenture's processes [Relation] cause [Effect] lower utilization rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the increasing use of automation in Accenture's processes may result in lower utilization rates if Accenture can't best predict its personnel needs.",
    "output": "[Cause] Accenture can't best predict its personnel needs [Relation] cause [Effect] lower utilization rates",
    "gold": "[Cause] Accenture can't best predict its personnel needs [Relation] enable [Effect] lower utilization rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, uncertainty regarding CM-AT approval as an unsystematic risk factor drives a wide divergence between our bull- and bear-case valuation scenarios.",
    "output": "[Cause] uncertainty regarding CM-AT approval as an unsystematic risk factor [Relation] cause [Effect] a wide divergence between our bull- and bear-case valuation scenarios",
    "gold": "[Cause] uncertainty regarding CM-AT approval as an unsystematic risk factor [Relation] enable [Effect] a wide divergence between our bull- and bear-case valuation scenarios",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Empire State Realty to eschew ground-up development in favor of redevelopment of its older properties. Consequently, we expect occupancy to remain at higher levels than was the case historically, and for releasing spreads to increase at a rate that is faster than the market, reflective of an improvement in the quality of the company's buildings.",
    "output": "[Cause] Empire State Realty to eschew ground-up development in favor of redevelopment of its older properties [Relation] cause [Effect] occupancy to remain at higher levels than was the case historically, and for releasing spreads to increase at a rate that is faster than the market, reflective of an improvement in the quality of the company's buildings",
    "gold": "[Cause]  Empire State Realty to eschew ground-up development in favor of redevelopment of its older properties [Relation] cause [Effect] occupancy to remain at higher levels than was the case historically, and for releasing spreads to increase at a rate that is faster than the market, reflective of an improvement in the quality of the company's buildings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fluctuating prices for key commodities the company extracts and sells has been a constant risk for Waste Management's recycling operations (7% of 2020 revenue), and the business has been adversely affected by China and the Basel Convention's import restrictions, which have pressured recycled commodity prices.",
    "output": "[Cause] Fluctuating prices for key commodities the company extracts and sells [Relation] cause [Effect] pressured recycled commodity prices",
    "gold": "[Cause] China and the Basel Convention's import restrictions [Relation] cause [Effect] pressured recycled commodity prices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Other networking firms are causing market consternation by unbundling their wares, but unbundled software can create issues by not being optimized for the hardware it is being paired with; those complexities could deter IT departments from adopting any unbundled software.",
    "output": "[Cause] Other networking firms are causing market consternation by unbundling their wares, but unbundled software can create issues by not being optimized for the hardware it is being paired with [Relation] cause [Effect] those complexities could deter IT departments from adopting any unbundled software",
    "gold": "[Cause] Other networking firms are causing market consternation by unbundling their wares, but unbundled software can create issues by not being optimized for the hardware it is being paired with; those complexities [Relation] cause [Effect] deter IT departments from adopting any unbundled software.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we believe Carnival could generate average ROICs, including goodwill (6%) below our weighted average cost of capital over the next decade, hindered by the secular fall out stemming from COVID-19.",
    "output": "[Cause] the secular fall out stemming from COVID-19 [Relation] prevent [Effect] Carnival could generate average ROICs, including goodwill (6%) below our weighted average cost of capital over the next decade",
    "gold": "[Cause] the secular fall out stemming from COVID-19 [Relation] cause [Effect] Carnival could generate average ROICs, including goodwill (6%) below our weighted average cost of capital over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ADAS penetration drives growth during most of our forecast, followed by another technology penetration wave from HAD and AD beginning in the last two years of our 10-year forecast, for 12.0% average annual revenue growth during our entire 10-year Stage I forecast.",
    "output": "[Cause] ADAS penetration drives growth during most of our forecast, followed by another technology penetration wave from HAD and AD beginning in the last two years of our 10-year forecast [Relation] enable [Effect] 12.0% average annual revenue growth during our entire 10-year Stage I forecast",
    "gold": "[Cause] for 12.0% average annual revenue growth during our entire 10-year Stage I forecast [Relation] cause [Effect] ADAS penetration drives growth during most of our forecast, followed by another technology penetration wave from HAD and AD beginning in the last two years of our 10-year forecast",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The COVID-19 pandemic roiled the landscape, bringing what was a booming economy to an only somewhat figurative standstill in the spring, with ongoing challenges amid high case counts in the winter.",
    "output": "[Cause] The COVID-19 pandemic [Relation] cause [Effect] roiled the landscape",
    "gold": "[Cause] The COVID-19 pandemic roiled the landscape [Relation] cause [Effect] bringing what was a booming economy to an only somewhat figurative standstill in the spring",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The COVID-19 pandemic roiled the landscape, bringing what was a booming economy to an only somewhat figurative standstill in the spring, with ongoing challenges amid high case counts in the winter.",
    "output": "[Cause] The COVID-19 pandemic roiled the landscape [Relation] cause [Effect] bringing what was a booming economy to an only somewhat figurative standstill in the spring",
    "gold": "[Cause] ongoing challenges [Relation] cause [Effect] high case counts in the winter",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The COVID-19 pandemic roiled the landscape, bringing what was a booming economy to an only somewhat figurative standstill in the spring, with ongoing challenges amid high case counts in the winter.",
    "output": "[Cause] The COVID-19 pandemic roiled the landscape [Relation] cause [Effect] bringing what was a booming economy to an only somewhat figurative standstill in the spring",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] pandemic roiled the landscape",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Farmers trust that both Deere and CNH can provide consistent parts availability, which in turn leads to strong aftermarket returns for both players.",
    "output": "[Cause] both Deere and CNH can provide consistent parts availability [Relation] cause [Effect] strong aftermarket returns for both players",
    "gold": "[Cause] both Deere and CNH can provide consistent parts availability [Relation] cause [Effect] strong aftermarket returns for both players",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, its production has some of the lowest-carbon intensity in the sector and should fall further as Equinor targets reductions and invests in greater electrification of offshore fields.",
    "output": "[Cause] Equinor targets reductions and invests in greater electrification of offshore fields [Relation] cause [Effect] its production has some of the lowest-carbon intensity in the sector and should fall further",
    "gold": "[Cause] Equinor targets reductions and invests in greater electrification of offshore fields [Relation] cause [Effect]  its production has some of the lowest-carbon intensity in the sector and should fall further",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Omnicom's revenue growth will be driven primarily by overall GDP growth (like historical patterns), in addition to contributions from the firm's acquisitions and headwinds or tailwinds from foreign exchange.",
    "output": "[Cause] overall GDP growth (like historical patterns), in addition to contributions from the firm's acquisitions and headwinds or tailwinds from foreign exchange [Relation] enable [Effect] Omnicom's revenue growth",
    "gold": "[Cause] overall GDP growth (like historical patterns), in addition to contributions from the firm's acquisitions and headwinds or tailwinds from foreign exchange [Relation] cause [Effect] Omnicom's revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, the Medicare for All scenario debated in the Democratic primaries called for the elimination of the private insurance industry, which would have threatened most of the company's operations.",
    "output": "[Cause] the Medicare for All scenario debated in the Democratic primaries called for the elimination of the private insurance industry [Relation] cause [Effect] threatened most of the company's operations",
    "gold": "[Cause] which would have threatened most of the company's operations [Relation] cause [Effect] For example, the Medicare for All scenario debated in the Democratic primaries called for the elimination of the private insurance industry",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The removal of the franc's peg against the euro in 2015 enhanced the attraction of the franc as portfolio diversification tool to minimize risk.",
    "output": "[Cause] The removal of the franc's peg against the euro in 2015 [Relation] enable [Effect] enhanced the attraction of the franc as portfolio diversification tool to minimize risk",
    "gold": "[Cause] The removal of the franc's peg against the euro in 2015 [Relation] enable [Effect] enhanced the attraction of the franc as portfolio diversification tool to minimize risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As consumers get more averse to fossil fuels, the reputational risk grows for oilfield service firms, and the probability of widespread substitution away from fossil fuels increases.",
    "output": "[Cause] consumers get more averse to fossil fuels [Relation] cause [Effect] the reputational risk grows for oilfield service firms, and the probability of widespread substitution away from fossil fuels increases",
    "gold": "[Cause] consumers get more averse to fossil fuels [Relation] cause [Effect] the reputational risk grows for oilfield service firms, and the probability of widespread substitution away from fossil fuels increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If there are hitches in vaccine rollout or the new SARS-CoV-2 variants result in further spikes of viral spread in 2021, this could hurt Boston for longer than expected.",
    "output": "[Cause] hitches in vaccine rollout or the new SARS-CoV-2 variants result in further spikes of viral spread in 2021 [Relation] cause [Effect] hurt Boston for longer than expected",
    "gold": "[Cause] hitches in vaccine rollout or the new SARS-CoV-2 variants result in further spikes of viral spread in 2021 [Relation] cause [Effect] hurt Boston for longer than expected",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we don't believe a decrease in R&D spending or outsourcing is likely in the near term, all CROs are exposed to these risks if biopharma funding is constrained or if there are changes in the drug-approval regulatory landscape.",
    "output": "[Cause] biopharma funding is constrained or if there are changes in the drug-approval regulatory landscape [Relation] cause [Effect] all CROs are exposed to these risks",
    "gold": "[Cause]  if biopharma funding is constrained or if there are changes in the drug-approval regulatory landscape [Relation] enable [Effect] risks if biopharma funding is constrained or if there are changes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think such outgrowth is sustainable over the next 10 years, given IHS Markit expects less than half of global production in 2031 to be internal combustion-only propulsion--a big jump from 2019, where it made up more than 70% of the total build, per Ultima Media.",
    "output": "[Cause] IHS Markit expects less than half of global production in 2031 to be internal combustion-only propulsion--a big jump from 2019, where it made up more than 70% of the total build, per Ultima Media [Relation] cause [Effect] We think such outgrowth is sustainable over the next 10 years",
    "gold": "[Cause] IHS Markit expects less than half of global production in 2031 to be internal combustion-only propulsion--a big jump from 2019, where it made up more than 70% of the total build, per Ultima Media [Relation] cause [Effect] We think such outgrowth is sustainable over the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As gross margins stabilize beyond 2022, we expect net earnings margins to contract as the company faces higher operating and capital costs for research and development and production expansion to keep up with competition.",
    "output": "[Cause] the company faces higher operating and capital costs for research and development and production expansion to keep up with competition [Relation] cause [Effect] net earnings margins to contract",
    "gold": "[Cause]  the company faces higher operating and capital costs for research and development and production expansion to keep up with competition [Relation] cause [Effect] net earnings margins to contract",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we acknowledge that call centers have high employee turnover, which means many users haven't spent years and years working with a system, we believe that longer-tenured managers need to learn a new product on which to train their consistently changing staff.",
    "output": "[Cause] call centers have high employee turnover [Relation] cause [Effect] many users haven't spent years and years working with a system",
    "gold": "[Cause] many users haven't spent years and years working with a system [Relation] cause [Effect] call centers have high employee turnover",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Compared with the private sector, public-sector construction is generally more stable though slower growing, given its reliance on government funding.",
    "output": "[Cause] its reliance on government funding [Relation] cause [Effect] public-sector construction is generally more stable though slower growing",
    "gold": "[Cause] its reliance on government funding [Relation] cause [Effect] public-sector construction is generally more stable though slower growing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect the cloud-based data management software field to become crowded as more enterprises transfer workloads to cloud ecosystems.",
    "output": "[Cause] more enterprises transfer workloads to cloud ecosystems [Relation] cause [Effect] the cloud-based data management software field to become crowded",
    "gold": "[Cause] more enterprises transfer workloads to cloud ecosystems [Relation] cause [Effect] the cloud-based data management software field to become crowded",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Gross margins will take a modest hit in the near term due to the consolidation of bottling and other finished goods businesses, as well as cost deleverage from COVID-19 disruption.",
    "output": "[Cause] the consolidation of bottling and other finished goods businesses [Relation] cause [Effect] Gross margins will take a modest hit in the near term",
    "gold": "[Cause]  COVID-19 disruption [Relation] cause [Effect] cost deleverage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Gross margins will take a modest hit in the near term due to the consolidation of bottling and other finished goods businesses, as well as cost deleverage from COVID-19 disruption.",
    "output": "[Cause] COVID-19 disruption [Relation] cause [Effect] cost deleverage",
    "gold": "[Cause] the consolidation of bottling and other finished goods businesses, as well as cost deleverage [Relation] cause [Effect] Gross margins will take a modest hit in the near term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For this segment, operating margins had remained above 30% over the past decade until the Chemogas acquisition caused a decrease in late 2019.",
    "output": "[Cause] the Chemogas acquisition [Relation] cause [Effect] a decrease in late 2019",
    "gold": "[Cause] the Chemogas acquisition [Relation] cause [Effect] a decrease in late 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think its expanding distribution network and product portfolio have helped Lennox gain market share, while low-cost manufacturing and product sourcing, and more cost-efficient product designs helped the company reduce its cost base.",
    "output": "[Cause] its expanding distribution network and product portfolio [Relation] enable [Effect] Lennox gain market share",
    "gold": "[Cause] its expanding distribution network and product portfolio [Relation] enable [Effect] Lennox gain market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think its expanding distribution network and product portfolio have helped Lennox gain market share, while low-cost manufacturing and product sourcing, and more cost-efficient product designs helped the company reduce its cost base.",
    "output": "[Cause] low-cost manufacturing and product sourcing, and more cost-efficient product designs [Relation] enable [Effect] the company reduce its cost base",
    "gold": "[Cause] low-cost manufacturing and product sourcing, and more cost-efficient product designs [Relation] enable [Effect] the company reduce its cost base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe a digital commerce platform is absolutely essential for a business-to-consumer model, and small shops would not have an IT support function, and therefore would be unlikely to take on the challenge of switching platforms.",
    "output": "[Cause] small shops would not have an IT support function [Relation] cause [Effect] unlikely to take on the challenge of switching platforms",
    "gold": "[Cause] small shops would not have an IT support function [Relation] cause [Effect] unlikely to take on the challenge of switching platforms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the firm to report nearly $19 billion in COVID-19 vaccine sales in 2021, with $17 billion in sales in 2022 as pandemic-related demand begins to decline but demand for boosters expands.",
    "output": "[Cause] pandemic-related demand begins to decline but demand for boosters expands [Relation] cause [Effect] the firm to report nearly $19 billion in COVID-19 vaccine sales in 2021, with $17 billion in sales in 2022",
    "gold": "[Cause] pandemic-related demand begins to decline but demand for boosters expands [Relation] enable [Effect] the firm to report nearly $19 billion in COVID-19 vaccine sales in 2021, with $17 billion in sales in 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its nearly 60% revenue mix outside the North America (based on 2019 revenue), in our view, gives it slightly higher tax and labor relations risk.",
    "output": "[Cause] Its nearly 60% revenue mix outside the North America (based on 2019 revenue) [Relation] cause [Effect] slightly higher tax and labor relations risk",
    "gold": "[Cause] Its nearly 60% revenue mix outside the North America (based on 2019 revenue) [Relation] cause [Effect] slightly higher tax and labor relations risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The stores have performed well despite steep miles driven declines since the pandemic began, but demand could fall as rising infection rates trigger restrictions that keep cars and trucks parked.",
    "output": "[Cause] rising infection rates trigger restrictions that keep cars and trucks parked [Relation] cause [Effect] demand could fall",
    "gold": "[Cause] rising infection rates trigger restrictions that keep cars and trucks parked [Relation] cause [Effect]  demand could fall",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, a greater shift by enterprises toward IaaS cloud adoption could reduce their own need for server space, as their data is shifted to cloud providers' servers and stored more efficiently.",
    "output": "[Cause] their data is shifted to cloud providers' servers and stored more efficiently [Relation] cause [Effect] a greater shift by enterprises toward IaaS cloud adoption could reduce their own need for server space",
    "gold": "[Cause] a greater shift by enterprises toward IaaS cloud adoption [Relation] cause [Effect] reduce their own need for server space",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "HD Supply works with contractors to construct a winning bid, which we think can pressure margins; however, once the job is won, HD Supply can provide contractors with frequently replenished consumable products throughout the construction process, which typically have better margins.",
    "output": "[Cause] HD Supply works with contractors to construct a winning bid [Relation] cause [Effect] pressure margins",
    "gold": "[Cause]  once the job is won, [Relation] enable [Effect]  HD Supply can provide contractors with frequently replenished consumable products throughout the construction process, which typically have better margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We no longer believe Unilever will meet its 20% margin target in 2020 due to macroeconomic pressures, and we suspect that as customer acquisition costs increase, further margin expansion will be limited by increasing customer acquisition costs.",
    "output": "[Cause] macroeconomic pressures [Relation] cause [Effect] We no longer believe Unilever will meet its 20% margin target in 2020",
    "gold": "[Cause] macroeconomic pressures [Relation] cause [Effect] We no longer believe Unilever will meet its 20% margin target in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We no longer believe Unilever will meet its 20% margin target in 2020 due to macroeconomic pressures, and we suspect that as customer acquisition costs increase, further margin expansion will be limited by increasing customer acquisition costs.",
    "output": "[Cause] macroeconomic pressures [Relation] cause [Effect] We no longer believe Unilever will meet its 20% margin target in 2020",
    "gold": "[Cause] customer acquisition costs increase [Relation] cause [Effect] further margin expansion will be limited by increasing customer acquisition costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The one-stop shop approach, made possible in part by acquisitions, affords it pricing flexibility and results in strong customer relationships.",
    "output": "[Cause] The one-stop shop approach, made possible in part by acquisitions [Relation] enable [Effect] affords it pricing flexibility and results in strong customer relationships",
    "gold": "[Cause] in part by acquisitions, affords it pricing flexibility and results in strong customer relationships [Relation] enable [Effect] The one-stop shop approach",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The increased emphasis on immediate-need, or CUE, products (which we estimate to represent 40%-50% of sales) could tick gross margins higher on a sustainable basis, indicating the company's pricing power and the strength of its brand.",
    "output": "[Cause] The increased emphasis on immediate-need, or CUE, products [Relation] enable [Effect] tick gross margins higher on a sustainable basis",
    "gold": "[Cause] The increased emphasis on immediate-need, or CUE, products [Relation] cause [Effect] tick gross margins higher on a sustainable basis",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The increased emphasis on immediate-need, or CUE, products (which we estimate to represent 40%-50% of sales) could tick gross margins higher on a sustainable basis, indicating the company's pricing power and the strength of its brand.",
    "output": "[Cause] The increased emphasis on immediate-need, or CUE, products [Relation] enable [Effect] tick gross margins higher on a sustainable basis",
    "gold": "[Cause] The increased emphasis on immediate-need, or CUE, products [Relation] cause [Effect]  indicating the company's pricing power and the strength of its brand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, we expect 2020 and 2021 to underperform given the weak market environment, although trading results have proved stronger than expected in the first half of they year given the volatility.",
    "output": "[Cause] the weak market environment [Relation] cause [Effect] 2020 and 2021 to underperform",
    "gold": "[Cause] the volatility [Relation] enable [Effect] trading results have proved stronger than expected in the first half of they year",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, we expect 2020 and 2021 to underperform given the weak market environment, although trading results have proved stronger than expected in the first half of they year given the volatility.",
    "output": "[Cause] the volatility [Relation] cause [Effect] trading results have proved stronger than expected in the first half of they year",
    "gold": "[Cause] the weak market environment [Relation] cause [Effect] 2020 and 2021 to underperform",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The potential challenges to profitability brought on by Lear's operating leverage and by cyclical demand result in our high fair value uncertainty rating.",
    "output": "[Cause] The potential challenges to profitability brought on by Lear's operating leverage and by cyclical demand [Relation] cause [Effect] our high fair value uncertainty rating",
    "gold": "[Cause] Lear's operating leverage and by cyclical demand [Relation] cause [Effect] The potential challenges to profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With Nvidia in the process of acquiring ARM, we note there is heightened risk that more ARM-based CPUs will threaten Intel's x86 CPU hegemony in the data center, as Nvidia will attempt to couple ARM server CPUs with its GPUs and networking chips to offer a comprehensive solution.",
    "output": "[Cause] Nvidia will attempt to couple ARM server CPUs with its GPUs and networking chips to offer a comprehensive solution [Relation] cause [Effect] more ARM-based CPUs will threaten Intel's x86 CPU hegemony in the data center",
    "gold": "[Cause] Nvidia will attempt to couple ARM server CPUs with its GPUs and networking chips to offer a comprehensive solution [Relation] cause [Effect] more ARM-based CPUs will threaten Intel's x86 CPU hegemony in the data center",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Consolidation within the fragmented advertising space has resulted in five companies (WPP, Omnicom, Interpublic Group, Publicis Groupe, and Dentsu), known as the Big Five, generating nearly 30% of the world's total ad revenue.",
    "output": "[Cause] Consolidation within the fragmented advertising space [Relation] cause [Effect] five companies (WPP, Omnicom, Interpublic Group, Publicis Groupe, and Dentsu)",
    "gold": "[Cause] Consolidation within the fragmented advertising space has resulted in five companies (WPP, Omnicom, Interpublic Group, Publicis Groupe, and Dentsu) [Relation] enable [Effect] generating nearly 30% of the world's total ad revenue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, Swatch's cost advantage will be further reinforced in 2019, when the obligation to supply competitors with movements for controlled prices is removed.",
    "output": "[Cause] the obligation to supply competitors with movements for controlled prices is removed [Relation] cause [Effect] Swatch's cost advantage will be further reinforced in 2019",
    "gold": "[Cause]  Swatch's cost advantage [Relation] prevent [Effect] the obligation to supply competitors with movements for controlled prices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Mixed results for Alzheimer's therapy aducanumab in phase 3 trials also demonstrates the high-risk nature of some of Biogen's chosen areas of focus within neurology, and despite the drug's FDA approval as Aduhelm in June 2021, global reimbursement and commercial uptake remain uncertain.",
    "output": "[Cause] Mixed results for Alzheimer's therapy aducanumab in phase 3 trials [Relation] enable [Effect] demonstrates the high-risk nature of some of Biogen's chosen areas of focus within neurology",
    "gold": "[Cause] Mixed results for Alzheimer's therapy aducanumab in phase 3 trials also demonstrates the high-risk nature of some of Biogen's chosen areas of focus within neurology [Relation] cause [Effect] global reimbursement and commercial uptake remain uncertain",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To facilitate the production of high-strength sheet steel, the company's flat-roll operations in Butler, Indiana, and Columbus, Mississippi, use ferrous scrap along with molten pig iron via two dedicated EAFs.",
    "output": "[Cause] the company's flat-roll operations in Butler, Indiana, and Columbus, Mississippi, use ferrous scrap along with molten pig iron via two dedicated EAFs [Relation] enable [Effect] facilitate the production of high-strength sheet steel",
    "gold": "[Cause] the company's flat-roll operations in Butler, Indiana, and Columbus, Mississippi, use ferrous scrap along with molten pig iron via two dedicated EAFs [Relation] enable [Effect] facilitate the production of high-strength sheet steel",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Pilgrim's efficiency initiatives and key customer strategy (which positions Pilgrim's as a strategic partner to its customers, shifting conversations to collaboratively meeting joint goals instead of a singular focus on price) are resulting in improved profits.",
    "output": "[Cause] Pilgrim's efficiency initiatives and key customer strategy [Relation] enable [Effect] improved profits",
    "gold": "[Cause] Pilgrim's efficiency initiatives and key customer strategy [Relation] enable [Effect] improved profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Phillips 66's refinery in Alliance, Louisiana, will particularly benefit, as it was previously an underperformer and marked for disposition until the possibility of light crude discounts in the Gulf emerged.",
    "output": "[Cause] it was previously an underperformer and marked for disposition until the possibility of light crude discounts in the Gulf emerged [Relation] cause [Effect] Phillips 66's refinery in Alliance, Louisiana, will particularly benefit",
    "gold": "[Cause]  it was previously an underperformer and marked for disposition until the possibility of light crude discounts in the Gulf emerged [Relation] cause [Effect] Phillips 66's refinery in Alliance, Louisiana, will particularly benefit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The CarMax customer stays with the same salesperson throughout the transaction rather than being passed off to a finance department, receiving a buying experience that is hard to match at a dealership.",
    "output": "[Cause] The CarMax customer stays with the same salesperson throughout the transaction [Relation] cause [Effect] receiving a buying experience that is hard to match at a dealership",
    "gold": "[Cause] The CarMax customer stays with the same salesperson throughout the transaction [Relation] cause [Effect] receiving a buying experience that is hard to match at a dealership",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, we think air cargo growth will be the biggest driver for JBT's airport equipment, along with general infrastructure spending for aging equipment.",
    "output": "[Cause] air cargo growth [Relation] enable [Effect] the biggest driver for JBT's airport equipment, along with general infrastructure spending for aging equipment",
    "gold": "[Cause]  air cargo growth [Relation] cause [Effect] the biggest driver for JBT's airport equipment, along with general infrastructure spending for aging equipment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This portfolio would be difficult to replicate and would require a significant investment of time and money for other players.",
    "output": "[Cause] This portfolio would be difficult to replicate [Relation] cause [Effect] require a significant investment of time and money for other players",
    "gold": "[Cause] require a significant investment of time and money for other players [Relation] cause [Effect] This portfolio would be difficult to replicate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A recently streamlined portfolio has allowed the company to shift its focus from selling niche endpoint products to selling a holistic and strategic solution.",
    "output": "[Cause] A recently streamlined portfolio [Relation] enable [Effect] the company to shift its focus from selling niche endpoint products to selling a holistic and strategic solution",
    "gold": "[Cause] A recently streamlined portfolio [Relation] enable [Effect] the company to shift its focus from selling niche endpoint products to selling a holistic and strategic solution",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "MarkitSERV, which is expected to move to joint venture later in 2021, has faced anti-trust scrutiny that was eventually settled.",
    "output": "[Cause] MarkitSERV, which is expected to move to joint venture later in 2021, has faced anti-trust scrutiny [Relation] cause [Effect] eventually settled",
    "gold": "[Cause] that was eventually settled [Relation] prevent [Effect] MarkitSERV, which is expected to move to joint venture later in 2021, has faced anti-trust scrutiny",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, due to COVID-19 and the increasing uncertainty around the economy and the potential downside, we are currently assigning Regions a high uncertainty rating.",
    "output": "[Cause] COVID-19 and the increasing uncertainty around the economy and the potential downside [Relation] cause [Effect] we are currently assigning Regions a high uncertainty rating",
    "gold": "[Cause]  COVID-19 and the increasing uncertainty around the economy and the potential downside [Relation] cause [Effect] we are currently assigning Regions a high uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Meanwhile, Valero is planning to reduce its carbon intensity through improved efficiencies, emissions offsets from ethanol production and renewable fuels blending.",
    "output": "[Cause] improved efficiencies, emissions offsets from ethanol production and renewable fuels blending [Relation] enable [Effect] reduce its carbon intensity",
    "gold": "[Cause]  improved efficiencies, emissions offsets from ethanol production and renewable fuels blending [Relation] enable [Effect] reduce its carbon intensity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company also has modest corporate governance risk exposure on the lack of a shareholder rights plan or \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"poison pill,\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" directors are not annually up for election, and, within certain limits, the board can change its size without shareholder approval.",
    "output": "[Cause] the lack of a shareholder rights plan or \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"",
    "gold": "[Cause] the lack of a shareholder rights plan or \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"poison pill,\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" directors are not annually up for election [Relation] cause [Effect] The company also has modest corporate governance risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Theoretically, the Academy might choose to leave the IMDB database on Azure, but workloads accessing this database would be much less performant because the data would be housed in different locations.",
    "output": "[Cause] the data would be housed in different locations [Relation] cause [Effect] workloads accessing this database would be much less performant",
    "gold": "[Cause] the data would be housed in different locations [Relation] cause [Effect] workloads accessing this database would be much less performant",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From a longer-term perspective, optimization of this acquisition strategy also means Abbott needs to hang onto the engineers and sales reps that come along with these acquisitions.",
    "output": "[Cause] optimization of this acquisition strategy [Relation] cause [Effect] Abbott needs to hang onto the engineers and sales reps that come along with these acquisitions",
    "gold": "[Cause] optimization of this acquisition strategy [Relation] cause [Effect] Abbott needs to hang onto the engineers and sales reps that come along with these acquisitions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Another reason users might hesitate to switch from QuickBooks is the need to retrain on other platforms for services already offered on QuickBooks, such as invoicing, payroll, assisted tax services, procurement services, and capital.",
    "output": "[Cause] the need to retrain on other platforms for services already offered on QuickBooks [Relation] cause [Effect] users might hesitate to switch from QuickBooks",
    "gold": "[Cause] the need to retrain on other platforms for services already offered on QuickBooks [Relation] cause [Effect] users might hesitate to switch from QuickBooks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we often cite unit economics and growth as a proxy for franchisee health, given the Mexican chain's 100% company-ownership, we approach it in this case as reinforcing the firm's mid-single-digit unit growth aspirations instead.",
    "output": "[Cause] the Mexican chain's 100% company-ownership [Relation] cause [Effect] we often cite unit economics and growth as a proxy for franchisee health",
    "gold": "[Cause] While we often cite unit economics and growth as a proxy for franchisee health [Relation] cause [Effect] reinforcing the firm's mid-single-digit unit growth aspirations instead",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we often cite unit economics and growth as a proxy for franchisee health, given the Mexican chain's 100% company-ownership, we approach it in this case as reinforcing the firm's mid-single-digit unit growth aspirations instead.",
    "output": "[Cause] reinforcing the firm's mid-single-digit unit growth aspirations instead [Relation] cause [Effect] we approach it in this case",
    "gold": "[Cause]  the Mexican chain's 100% company-ownership [Relation] cause [Effect] reinforcing the firm's mid-single-digit unit growth aspirations instead",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If the number of claims, frequency, increases due to adverse whether conditions, driving patterns, or changes in highway codes, the claims ratio will deteriorate.",
    "output": "[Cause] adverse whether conditions, driving patterns, or changes in highway codes [Relation] cause [Effect] the number of claims, frequency, increases",
    "gold": "[Cause] the number of claims, frequency, increases due to adverse whether conditions, driving patterns, or changes in highway codes [Relation] cause [Effect] the claims ratio will deteriorate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If the number of claims, frequency, increases due to adverse whether conditions, driving patterns, or changes in highway codes, the claims ratio will deteriorate.",
    "output": "[Cause] adverse whether conditions, driving patterns, or changes in highway codes [Relation] cause [Effect] the number of claims, frequency, increases",
    "gold": "[Cause] adverse whether conditions, driving patterns, or changes in highway codes [Relation] cause [Effect] the number of claims, frequency, increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But this should not impact Choice's uncertainty rating unless travel demand once again returns to near zero for an extended period of time, leading to potential needs for incremental liquidity, which perhaps could occur at value destructive levels.",
    "output": "[Cause] travel demand once again returns to near zero for an extended period of time [Relation] cause [Effect] impact Choice's uncertainty rating",
    "gold": "[Cause] travel demand once again returns to near zero for an extended period of time [Relation] cause [Effect] potential needs for incremental liquidity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "But this should not impact Choice's uncertainty rating unless travel demand once again returns to near zero for an extended period of time, leading to potential needs for incremental liquidity, which perhaps could occur at value destructive levels.",
    "output": "[Cause] travel demand once again returns to near zero for an extended period of time [Relation] cause [Effect] potential needs for incremental liquidity",
    "gold": "[Cause] travel demand once again returns to near zero for an extended period of time [Relation] cause [Effect] impact Choice's uncertainty rating",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As the firm plans to further invest in research and development and content creation and virtual reality and augmented reality offerings, in addition to data security, we see the 37% average operating margin during the next five years lower than the previous three years' 39%.",
    "output": "[Cause] the firm plans to further invest in research and development and content creation and virtual reality and augmented reality offerings [Relation] cause [Effect] in addition to data security, we see the 37% average operating margin during the next five years lower than the previous three years' 39%",
    "gold": "[Cause] the firm plans to further invest in research and development and content creation and virtual reality and augmented reality offerings [Relation] cause [Effect] in addition to data security, we see the 37% average operating margin during the next five years lower than the previous three years' 39%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Demand for healthineers and mobility should be less cyclically driven, and we expect less near-term impact from the COVID-19-related shutdowns.",
    "output": "[Cause] Demand for healthineers and mobility should be less cyclically driven [Relation] cause [Effect] less near-term impact from the COVID-19-related shutdowns",
    "gold": "[Cause] the COVID-19-related shutdowns [Relation] cause [Effect] less near-term impact",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Estee's 2016 acquisitions of Too Faced and Becca make the firm an even more important partner in this channel, as these two makeup brands have significant exposure in specialty-multi.",
    "output": "[Cause] Estee's 2016 acquisitions of Too Faced and Becca [Relation] enable [Effect] the firm an even more important partner in this channel",
    "gold": "[Cause] Estee's 2016 acquisitions of Too Faced and Becca [Relation] enable [Effect] the firm an even more important partner in this channel",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Continued investment in natural gas, particulary LNG, could be impaired if renewable power generation adoption is greater than expected and less gas generation is needed.",
    "output": "[Cause] renewable power generation adoption is greater than expected and less gas generation is needed [Relation] cause [Effect] Continued investment in natural gas, particulary LNG, could be impaired",
    "gold": "[Cause] renewable power generation adoption is greater than expected and less gas generation is needed [Relation] cause [Effect] Continued investment in natural gas, particulary LNG, could be impaired",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With increasing electronic device and electrical system penetration and modestly higher growth rate in sales of premium-priced vehicles where Lear's seating business has leading market share, we expect revenue growth over our five-year forecast period to average 3%.",
    "output": "[Cause] increasing electronic device and electrical system penetration and modestly higher growth rate in sales of premium-priced vehicles where Lear's seating business has leading market share [Relation] cause [Effect] revenue growth over our five-year forecast period to average 3%",
    "gold": "[Cause]  increasing electronic device and electrical system penetration and modestly higher growth rate in sales of premium-priced vehicles where Lear's seating business has leading market share [Relation] cause [Effect] revenue growth over our five-year forecast period to average 3%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's robots (as well as factories, workwear and so on) are noticeably bright yellow, which has been an effective marketing tool as people worldwide immediately recognize Fanuc's robots in factories, thus further contributing to its brand.",
    "output": "[Cause] people worldwide immediately recognize Fanuc's robots in factories [Relation] cause [Effect] The company's robots (as well as factories, workwear and so on) are noticeably bright yellow, which has been an effective marketing tool",
    "gold": "[Cause] people worldwide immediately recognize Fanuc's robots in factories [Relation] cause [Effect] The company's robots (as well as factories, workwear and so on) are noticeably bright yellow, which has been an effective marketing tool",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The return of certain discretionary costs in a post-pandemic world and higher energy prices provide headwinds to further margin expansion.",
    "output": "[Cause] The return of certain discretionary costs in a post-pandemic world and higher energy prices [Relation] prevent [Effect] further margin expansion",
    "gold": "[Cause] The return of certain discretionary costs in a post-pandemic world and higher energy prices [Relation] prevent [Effect] further margin expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By owning a substantial senior housing operating portfolio, Ventas has unlocked value in its most favorable assets, but this also leads to a greater degree of volatility and financial risk versus the traditional triple-net lease structure, which remains in place for weaker assets.",
    "output": "[Cause] owning a substantial senior housing operating portfolio [Relation] enable [Effect] Ventas has unlocked value in its most favorable assets",
    "gold": "[Cause] owning a substantial senior housing operating portfolio [Relation] enable [Effect]  Ventas has unlocked value in its most favorable assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By owning a substantial senior housing operating portfolio, Ventas has unlocked value in its most favorable assets, but this also leads to a greater degree of volatility and financial risk versus the traditional triple-net lease structure, which remains in place for weaker assets.",
    "output": "[Cause] Ventas has unlocked value in its most favorable assets [Relation] cause [Effect] a greater degree of volatility and financial risk versus the traditional triple-net lease structure",
    "gold": "[Cause] owning a substantial senior housing operating portfolio [Relation] cause [Effect]  a greater degree of volatility and financial risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With over 55,000 products that touch and concern nearly every industry, the firm's portfolio is not overly dependent on any single product or category, which increases our confidence in its long-run returns on invested capital.",
    "output": "[Cause] over 55,000 products that touch and concern nearly every industry [Relation] cause [Effect] the firm's portfolio is not overly dependent on any single product or category",
    "gold": "[Cause] over 55,000 products that touch and concern nearly every industry [Relation] enable [Effect] the firm's portfolio is not overly dependent on any single product or category",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because American Express has its own network, it can compensate for the lack of interest payments by capturing more value from each dollar spent with the company's cards, but competitors in this space do not have this advantage.",
    "output": "[Cause] American Express has its own network [Relation] cause [Effect] it can compensate for the lack of interest payments by capturing more value from each dollar spent with the company's cards",
    "gold": "[Cause] American Express has its own network [Relation] cause [Effect] it can compensate for the lack of interest payments by capturing more value from each dollar spent with the company's cards",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think these pervasive academic origins help perpetuate Ansys' dominance in corporate engineering teams across the globe, which we think will ensure Ansys retains its estimated dominant 25% share in the computer-assisted engineering market.",
    "output": "[Cause] these pervasive academic origins [Relation] enable [Effect] perpetuate Ansys' dominance in corporate engineering teams across the globe",
    "gold": "[Cause]  these pervasive academic origins [Relation] enable [Effect]  perpetuate Ansys' dominance in corporate engineering teams across the globe",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think these pervasive academic origins help perpetuate Ansys' dominance in corporate engineering teams across the globe, which we think will ensure Ansys retains its estimated dominant 25% share in the computer-assisted engineering market.",
    "output": "[Cause] perpetuate Ansys' dominance in corporate engineering teams across the globe [Relation] enable [Effect] ensure Ansys retains its estimated dominant 25% share in the computer-assisted engineering market",
    "gold": "[Cause]  perpetuate Ansys' dominance in corporate engineering teams across the globe [Relation] enable [Effect] ensure Ansys retains its estimated dominant 25% share in the computer-assisted engineering market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Coffee procurement also represents the firm's largest ESG risk exposure, with supply chain human rights concerns and the environmental impacts of coffee farming (clear-cutting, synthetic fertilizers) potentially drawing increased scrutiny in the future.",
    "output": "[Cause] Coffee procurement also represents the firm's largest ESG risk exposure, with supply chain human rights concerns and the environmental impacts of coffee farming (clear-cutting, synthetic fertilizers) potentially drawing increased scrutiny in the future [Relation] cause [Effect] Coffee procurement also represents the firm's largest ESG risk exposure",
    "gold": "[Cause] Coffee procurement also represents the firm's largest ESG risk exposure, with supply chain human rights concerns and the environmental impacts of coffee farming (clear-cutting, synthetic fertilizers) [Relation] cause [Effect] potentially drawing increased scrutiny in the future",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect this improvement to continue as the firm has built a new, highly automated manufacturing facility in Massachusetts that will allow Insulet to exert far more control over quality.",
    "output": "[Cause] the firm has built a new, highly automated manufacturing facility in Massachusetts [Relation] enable [Effect] Insulet to exert far more control over quality",
    "gold": "[Cause] the firm has built a new, highly automated manufacturing facility in Massachusetts [Relation] cause [Effect] this improvement to continue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect this improvement to continue as the firm has built a new, highly automated manufacturing facility in Massachusetts that will allow Insulet to exert far more control over quality.",
    "output": "[Cause] the firm has built a new, highly automated manufacturing facility in Massachusetts [Relation] enable [Effect] Insulet to exert far more control over quality",
    "gold": "[Cause] the firm has built a new, highly automated manufacturing facility in Massachusetts [Relation] enable [Effect]  Insulet to exert far more control over quality",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, the highly contiguous nature of the firm's acreage supports development with more profitable longer laterals, delivering more production per dollar of capital spent and thus reducing unit costs.",
    "output": "[Cause] the highly contiguous nature of the firm's acreage [Relation] enable [Effect] development with more profitable longer laterals",
    "gold": "[Cause] the highly contiguous nature of the firm's acreage [Relation] enable [Effect] development with more profitable longer laterals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, the highly contiguous nature of the firm's acreage supports development with more profitable longer laterals, delivering more production per dollar of capital spent and thus reducing unit costs.",
    "output": "[Cause] development with more profitable longer laterals [Relation] enable [Effect] reducing unit costs",
    "gold": "[Cause] development with more profitable longer laterals [Relation] cause [Effect] delivering more production per dollar of capital spent",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, the highly contiguous nature of the firm's acreage supports development with more profitable longer laterals, delivering more production per dollar of capital spent and thus reducing unit costs.",
    "output": "[Cause] development with more profitable longer laterals [Relation] enable [Effect] reducing unit costs",
    "gold": "[Cause] development with more profitable longer laterals [Relation] cause [Effect]  reducing unit costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given its strong capability of creating and operating gaming IP, we project NetEase's return on invested capital, or ROIC, will be well above its weighted average cost of capital, or WACC, even after the company invests in other currently non-profitable businesses.",
    "output": "[Cause] its strong capability of creating and operating gaming IP [Relation] cause [Effect] NetEase's return on invested capital, or ROIC, will be well above its weighted average cost of capital, or WACC, even after the company invests in other currently non-profitable businesses",
    "gold": "[Cause]  its strong capability of creating and operating gaming IP [Relation] enable [Effect]  we project NetEase's return on invested capital, or ROIC, will be well above its weighted average cost of capital, or WACC",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As a result, new products or even previous-generation products that have demonstrated their safety and efficacy can be marketed fairly quickly, saving some of the lost sales.",
    "output": "[Cause] new products or even previous-generation products that have demonstrated their safety and efficacy can be marketed fairly quickly [Relation] enable [Effect] saving some of the lost sales",
    "gold": "[Cause] new products or even previous-generation products that have demonstrated their safety and efficacy can be marketed fairly quickly [Relation] enable [Effect] saving some of the lost sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the logistics business gains scale and reaches higher capacity utilization, which we expect to happen after five years, we will see gross profit margin improvement.",
    "output": "[Cause] the logistics business gains scale and reaches higher capacity utilization [Relation] cause [Effect] gross profit margin improvement",
    "gold": "[Cause]  the logistics business gains scale and reaches higher capacity utilization [Relation] cause [Effect] gross profit margin improvement",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And while COVID-19 induced demand has been inflating the firm's personal care (up 5% in fiscal 2020) and consumer tissue (up 13%) arms (about 85% of total sales), its professional business remains challenged (down 6%).",
    "output": "[Cause] COVID-19 induced demand [Relation] cause [Effect] inflating the firm's personal care (up 5% in fiscal 2020) and consumer tissue (up 13%) arms (about 85% of total sales)",
    "gold": "[Cause] COVID-19 induced demand [Relation] cause [Effect]  inflating the firm's personal care (up 5% in fiscal 2020) and consumer tissue (up 13%) arms (about 85% of total sales)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Norton products have evolved to include solutions for online privacy and ID protection in order to capture revenue outside of device protection sales.",
    "output": "[Cause] Norton products have evolved to include solutions for online privacy and ID protection [Relation] enable [Effect] capture revenue outside of device protection sales",
    "gold": "[Cause] Norton products have evolved to include solutions for online privacy and ID protection [Relation] enable [Effect] capture revenue outside of device protection sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We've also altered our forecast for the February-ending final quarter of fiscal 2020, as the company guided to sales set to contract at a double-digit clip (much worse than our forecast 3% decline previously), while shipping constraints and higher freight costs could affect cost metrics.",
    "output": "[Cause] shipping constraints and higher freight costs [Relation] cause [Effect] affect cost metrics",
    "gold": "[Cause]  shipping constraints and higher freight costs [Relation] prevent [Effect] affect cost metrics",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect that net interest income will come under pressure due to lower rates and lower loan balances in 2020 and 2021 due to the more difficult economic environment.",
    "output": "[Cause] the more difficult economic environment [Relation] cause [Effect] lower rates and lower loan balances in 2020 and 2021",
    "gold": "[Cause] lower rates and lower loan balances in 2020 and 2021 due to the more difficult economic environment [Relation] cause [Effect] We expect that net interest income will come under pressure",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast Nordstrom's full-price sales will plummet 31% in 2020 due to the COVID-19 outbreak but jump 24% in 2021.",
    "output": "[Cause] the COVID-19 outbreak [Relation] cause [Effect] Nordstrom's full-price sales will plummet 31% in 2020",
    "gold": "[Cause]  the COVID-19 outbreak [Relation] cause [Effect]  Nordstrom's full-price sales will plummet 31% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While previous plans had also targeted a shrinking investment bank, the resulting declining revenue had been outpacing cost-cutting efforts pushing the bank into a downward spiral.",
    "output": "[Cause] previous plans had also targeted a shrinking investment bank [Relation] cause [Effect] declining revenue had been outpacing cost-cutting efforts pushing the bank into a downward spiral",
    "gold": "[Cause] previous plans had also targeted a shrinking investment bank [Relation] enable [Effect]  declining revenue had been outpacing cost-cutting efforts pushing the bank into a downward spiral",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "FactSet's adjusted operating margins have been rangebound (31%-36%) over the last 10 years as it continues to invest in new content and occasionally brings in new acquisitions at lower margins.",
    "output": "[Cause] it continues to invest in new content and occasionally brings in new acquisitions at lower margins [Relation] cause [Effect] FactSet's adjusted operating margins have been rangebound (31%-36%) over the last 10 years",
    "gold": "[Cause] it continues to invest in new content and occasionally brings in new acquisitions at lower margins [Relation] enable [Effect] FactSet's adjusted operating margins have been rangebound (31%-36%) over the last 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Five Below stocks only about 4,000 items per store, versus over 7,000 at Dollar Tree (both chains' locations average roughly 8,500 square feet in size). This approach allows it to order in a size not otherwise befitting a chain of only 900 stores (as of the end of fiscal 2019).",
    "output": "[Cause] Five Below stocks only about 4,000 items per store, versus over 7,000 at Dollar Tree (both chains' locations average roughly 8,500 square feet in size) [Relation] enable [Effect] it to order in a size not otherwise befitting a chain of only 900 stores (as of the end of fiscal 2019)",
    "gold": "[Cause] Five Below stocks only about 4,000 items per store, versus over 7,000 at Dollar Tree (both chains' locations average roughly 8,500 square feet in size) [Relation] enable [Effect] it to order in a size not otherwise befitting a chain of only 900 stores (as of the end of fiscal 2019)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These clients use CoStar's data to inform critical business decisions regarding commercial real estate transactions that affect profitability. As such, the company consistently posts renewal rates above 90%, with the figure typically exceeding 95% for clients who have been customers for five years or longer.",
    "output": "[Cause] These clients use CoStar's data to inform critical business decisions regarding commercial real estate transactions that affect profitability [Relation] cause [Effect] the company consistently posts renewal rates above 90%, with the figure typically exceeding 95% for clients who have been customers for five years or longer",
    "gold": "[Cause] These clients use CoStar's data to inform critical business decisions regarding commercial real estate transactions that affect profitability [Relation] cause [Effect] the company consistently posts renewal rates above 90%, with the figure typically exceeding 95% for clients who have been customers for five years or longer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the next five years, we expect the company will invest in further improving interoperability capabilities across healthcare systems and providers to gain share from weaker, less-sophisticated peers.",
    "output": "[Cause] the company will invest in further improving interoperability capabilities across healthcare systems and providers [Relation] enable [Effect] gain share from weaker, less-sophisticated peers",
    "gold": "[Cause]  the company will invest in further improving interoperability capabilities across healthcare systems and providers [Relation] enable [Effect] gain share from weaker, less-sophisticated peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Impossible found a way to engineer a type of yeast to produce soy leghemoglobin, which provides the firm with a sufficient supply of heme to produce its burgers.",
    "output": "[Cause] Impossible found a way to engineer a type of yeast to produce soy leghemoglobin [Relation] enable [Effect] provides the firm with a sufficient supply of heme to produce its burgers",
    "gold": "[Cause] Impossible found a way to engineer a type of yeast to produce soy leghemoglobin [Relation] cause [Effect] provides the firm with a sufficient supply of heme to produce its burgers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In an asset-light industry, in which the majority of costs stem from food produce and labour, a cost advantage is a rarity.",
    "output": "[Cause] the majority of costs stem from food produce and labour [Relation] cause [Effect] a cost advantage is a rarity",
    "gold": "[Cause] the majority of costs stem from food produce and labour [Relation] cause [Effect] a cost advantage is a rarity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The broad geographic nature of its business model results in reduced pretax profit volatility versus peers, as evident during the global financial crisis, but comes with higher capital requirements.",
    "output": "[Cause] The broad geographic nature of its business model [Relation] cause [Effect] reduced pretax profit volatility versus peers",
    "gold": "[Cause] The broad geographic nature of its business model [Relation] cause [Effect] reduced pretax profit volatility versus peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The broad geographic nature of its business model results in reduced pretax profit volatility versus peers, as evident during the global financial crisis, but comes with higher capital requirements.",
    "output": "[Cause] The broad geographic nature of its business model [Relation] cause [Effect] reduced pretax profit volatility versus peers",
    "gold": "[Cause] the global financial crisis [Relation] cause [Effect]  higher capital requirements",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We anticipate that higher spending among online shoppers, a growing user and seller base, and improved technology for merchants to operate their businesses on the platforms and marketing to match users with the right merchandise will all contribute to Alibaba's online retail revenue growth.",
    "output": "[Cause] higher spending among online shoppers, a growing user and seller base, and improved technology for merchants to operate their businesses on the platforms and marketing to match users with the right merchandise [Relation] enable [Effect] Alibaba's online retail revenue growth",
    "gold": "[Cause] higher spending among online shoppers, a growing user and seller base, and improved technology for merchants to operate their businesses on the platforms and marketing to match users with the right merchandise [Relation] enable [Effect] Alibaba's online retail revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe further moves to increase efficiency, largely through digital initiatives, should translate to good expense control, although pressure on revenue in the medium term will pressure the efficiency ratio.",
    "output": "[Cause] further moves to increase efficiency, largely through digital initiatives [Relation] enable [Effect] translate to good expense control",
    "gold": "[Cause] pressure on revenue in the medium term [Relation] enable [Effect] will pressure the efficiency ratio",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect healthy demand for Nokia's software and service offerings as software-defined networking becomes commonplace and customers desire solutions to optimize increasingly complex networks.",
    "output": "[Cause] software-defined networking becomes commonplace and customers desire solutions to optimize increasingly complex networks [Relation] cause [Effect] healthy demand for Nokia's software and service offerings",
    "gold": "[Cause] software-defined networking becomes commonplace and customers desire solutions to optimize increasingly complex networks [Relation] cause [Effect] healthy demand for Nokia's software and service offerings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In late 2017, FMC acquired DuPont's divested crop chemicals portfolio, which included blockbuster insecticide Rynaxypyr, in exchange for FMC's health and nutrition business, cash, and working capital.",
    "output": "[Cause] FMC acquired DuPont's divested crop chemicals portfolio [Relation] enable [Effect] FMC's health and nutrition business, cash, and working capital",
    "gold": "[Cause] FMC acquired DuPont's divested crop chemicals portfolio [Relation] cause [Effect] FMC's health and nutrition business, cash, and working capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "An economic downturn or another financial crisis could provide headwinds to Nice, give the concentration of its business in financial services.",
    "output": "[Cause] An economic downturn or another financial crisis [Relation] cause [Effect] provide headwinds to Nice, give the concentration of its business in financial services",
    "gold": "[Cause] the concentration of its business in financial services [Relation] cause [Effect] An economic downturn or another financial crisis could provide headwinds to Nice",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For example, International Aero Engine's V2500 engine had its first run in 1987 and is still used to power A320s because it is generally more economical for airlines to repair an engine than to purchase a new engine and fit it onto an aircraft.",
    "output": "[Cause] it is generally more economical for airlines to repair an engine than to purchase a new engine and fit it onto an aircraft [Relation] cause [Effect] International Aero Engine's V2500 engine had its first run in 1987 and is still used to power A320s",
    "gold": "[Cause] it is generally more economical for airlines to repair an engine than to purchase a new engine and fit it onto an aircraft [Relation] cause [Effect] International Aero Engine's V2500 engine had its first run in 1987 and is still used to power A320s",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Having larger banks helps spread fixed costs across a larger operating base, increasing operating efficiency, as the four largest Canadian banks are all bigger than the largest U.S.",
    "output": "[Cause] the four largest Canadian banks are all bigger than the largest U.S [Relation] cause [Effect] Having larger banks helps spread fixed costs across a larger operating base, increasing operating efficiency",
    "gold": "[Cause] the four largest Canadian banks are all bigger than the largest U.S [Relation] cause [Effect] Having larger banks helps spread fixed costs across a larger operating base, increasing operating efficiency",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2019, tariff issues surfaced through friction from retail partners that no longer want direct import shipments in order to avoid tariff penalties by taking delivery of goods locally, waylaying sales growth.",
    "output": "[Cause] friction from retail partners [Relation] cause [Effect] tariff issues surfaced",
    "gold": "[Cause] friction from retail partners [Relation] cause [Effect]  tariff issues surfaced",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2019, tariff issues surfaced through friction from retail partners that no longer want direct import shipments in order to avoid tariff penalties by taking delivery of goods locally, waylaying sales growth.",
    "output": "[Cause] friction from retail partners that no longer want direct import shipments [Relation] cause [Effect] tariff issues surfaced",
    "gold": "[Cause] no longer want direct import shipments in order to avoid tariff penalties by taking delivery of goods locally [Relation] prevent [Effect] sales growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In 2019, tariff issues surfaced through friction from retail partners that no longer want direct import shipments in order to avoid tariff penalties by taking delivery of goods locally, waylaying sales growth.",
    "output": "[Cause] friction from retail partners that no longer want direct import shipments [Relation] cause [Effect] tariff issues surfaced",
    "gold": "[Cause] in order to avoid tariff penalties by taking delivery of goods locally [Relation] cause [Effect] no longer want direct import shipments",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Near-term results are more uncertain than usual, as sales of lower margin items surge (often with higher-cost fulfillment), with offsetting cost leverage.",
    "output": "[Cause] sales of lower margin items surge [Relation] cause [Effect] Near-term results are more uncertain than usual",
    "gold": "[Cause]  sales of lower margin items surge [Relation] cause [Effect] Near-term results are more uncertain than usual",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Near-term results are more uncertain than usual, as sales of lower margin items surge (often with higher-cost fulfillment), with offsetting cost leverage.",
    "output": "[Cause] sales of lower margin items surge [Relation] cause [Effect] Near-term results are more uncertain than usual",
    "gold": "[Cause]  sales of lower margin items surge [Relation] enable [Effect] offsetting cost leverage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "On the plus side, the size and scale of Texas Instruments' salesforce and field applications engineers allow the firm to reach a broader customer base than peers, which has translated into a share lead for Texas Instruments in the analog chip market.",
    "output": "[Cause] the size and scale of Texas Instruments' salesforce and field applications engineers [Relation] enable [Effect] the firm to reach a broader customer base than peers",
    "gold": "[Cause] the size and scale of Texas Instruments' salesforce and field applications engineers [Relation] enable [Effect] the firm to reach a broader customer base than peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, a more consolidated customer base, greater capital intensity due to increased complexity, and more diverse demand drivers have mitigated wafer fabrication equipment sales volatility in recent years.",
    "output": "[Cause] increased complexity [Relation] cause [Effect] greater capital intensity",
    "gold": "[Cause] increased complexity | more diverse demand drivers have mitigated wafer fabrication equipment sales volatility in recent years [Relation] enable [Effect] a more consolidated customer base | greater capital intensity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Volatile commodity power markets, weather, and reliance on government subsidies for renewable energy create some uncertainty around NextEra's long-term earnings strength at its renewable generation business, particularly for assets without long-term PPA.",
    "output": "[Cause] Volatile commodity power markets, weather, and reliance on government subsidies for renewable energy [Relation] cause [Effect] some uncertainty around NextEra's long-term earnings strength at its renewable generation business, particularly for assets without long-term PPA",
    "gold": "[Cause] Volatile commodity power markets, weather, and reliance on government subsidies for renewable energy [Relation] cause [Effect] create some uncertainty around NextEra's long-term earnings strength at its renewable generation business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, we expect Airbnb to lower marketing expense to 22% of revenue in 2030 from 34% in 2019 (2019 was a heavier investment year, with 2018 marketing costs at 30% of sales), as the company benefits from strong global awareness and a more complete platform offering long term. As a result, we estimate Airbnb's revenue growth to average 21% over the next 10 years (unchanged), with operating margins still expanding to the mid-20s in 2030 from negative 17% in 2020 (before stock-based compensation; and the 10% in 2019).",
    "output": "[Cause] Airbnb to lower marketing expense to 22% of revenue in 2030 from 34% in 2019 (2019 was a heavier investment year, with 2018 marketing costs at 30% of sales), as the company benefits from strong global awareness and a more complete platform offering long term [Relation] cause [Effect] Airbnb's revenue growth to average 21% over the next 10 years (unchanged), with operating margins still expanding to the mid-20s in 2030 from negative 17% in 2020 (before stock-based compensation; and the 10% in 2019)",
    "gold": "[Cause] Airbnb to lower marketing expense to 22% of revenue in 2030 from 34% in 2019 (2019 was a heavier investment year, with 2018 marketing costs at 30% of sales), as the company benefits from strong global awareness and a more complete platform offering long term [Relation] cause [Effect]  Airbnb's revenue growth to average 21% over the next 10 years (unchanged), with operating margins still expanding to the mid-20s in 2030 from negative 17% in 2020 (before stock-based compensation; and the 10% in 2019)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, we believe that Colfax's recent transactions will result in a less cyclical and more profitable portfolio, as the recently acquired DJO Global business is significantly less volatile than the divested air and gas handling business.",
    "output": "[Cause] the recently acquired DJO Global business is significantly less volatile than the divested air and gas handling business [Relation] cause [Effect] Colfax's recent transactions will result in a less cyclical and more profitable portfolio",
    "gold": "[Cause] the recently acquired DJO Global business is significantly less volatile than the divested air and gas handling business [Relation] cause [Effect] Colfax's recent transactions will result in a less cyclical and more profitable portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Adidas has gained North America market share through fashion products and performance-sports innovations, and we think these products will allow it to maintain share even if the recent athleisure and retro trends, which have helped the brand, cool off.",
    "output": "[Cause] these products [Relation] enable [Effect] maintain share even if the recent athleisure and retro trends",
    "gold": "[Cause] fashion products and performance-sports innovations [Relation] enable [Effect] Adidas | it to maintain share",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe Adidas has gained North America market share through fashion products and performance-sports innovations, and we think these products will allow it to maintain share even if the recent athleisure and retro trends, which have helped the brand, cool off.",
    "output": "[Cause] these products [Relation] enable [Effect] maintain share even if the recent athleisure and retro trends",
    "gold": "[Cause] the recent athleisure and retro trends [Relation] cause [Effect] the brand, cool off",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think Neogen's unique partnership with International Genetic Solutions, or IGS, a partnership that formed with the specific goal of further improving the Ingenity test, gives Neogen a leg-up over potential competition in cattle genetics, an area in which Neogen has already developed a market-leading position.",
    "output": "[Cause] Neogen's unique partnership with International Genetic Solutions, or IGS, a partnership that formed with the specific goal of further improving the Ingenity test [Relation] enable [Effect] gives Neogen a leg-up over potential competition in cattle genetics, an area in which Neogen has already developed a market-leading position",
    "gold": "[Cause]  Neogen's unique partnership with International Genetic Solutions, or IGS, a partnership that formed with the specific goal [Relation] enable [Effect]  improving the Ingenity test, gives Neogen a leg-up over potential competition in cattle genetics",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The vast majority of states outsource at least part of their Medicaid population management to private insurers like Centene, which can reduce the variability and magnitude of Medicaid spending for the states.",
    "output": "[Cause] The vast majority of states outsource at least part of their Medicaid population management to private insurers like Centene [Relation] enable [Effect] reduce the variability and magnitude of Medicaid spending for the states",
    "gold": "[Cause] The vast majority of states outsource at least part of their Medicaid population management to private insurers like Centene [Relation] cause [Effect] reduce the variability and magnitude of Medicaid spending for the states",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, the emergence of Yangtze Memory out of China could introduce irrational competitive behavior if the Chinese government subsidizes the firm to compete on price and take market share.",
    "output": "[Cause] the Chinese government subsidizes the firm to compete on price and take market share [Relation] cause [Effect] the emergence of Yangtze Memory out of China could introduce irrational competitive behavior",
    "gold": "[Cause] the Chinese government subsidizes the firm to compete on price and take market share [Relation] cause [Effect] the emergence of Yangtze Memory out of China could introduce irrational competitive behavior",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, Twitter's network effect is considered to be bumpy and/or seasonal, as large events of all types bring users onto Twitter to gather information, interact, and voice their opinions.",
    "output": "[Cause] large events of all types bring users onto Twitter to gather information, interact, and voice their opinions [Relation] cause [Effect] Twitter's network effect is considered to be bumpy and/or seasonal",
    "gold": "[Cause] large events of all types bring users onto Twitter to gather information, interact, and voice their opinions [Relation] cause [Effect] Twitter's network effect is considered to be bumpy and/or seasonal",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe BRP has improved its innovation to remove excessive seasonal volatility, with new personal watercraft offerings offsetting snowmobile innovation in the seasonal segment, In addition, exposure to the boating business should lead to more diversified demand profile for the enterprise.",
    "output": "[Cause] exposure to the boating business [Relation] cause [Effect] more diversified demand profile for the enterprise",
    "gold": "[Cause] exposure to the boating business [Relation] enable [Effect] more diversified demand profile for the enterprise",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As PetroChina is an integrated oil and gas producer, its earnings are exposed to volatility in oil and gas prices, which may negatively affect earnings.",
    "output": "[Cause] PetroChina is an integrated oil and gas producer [Relation] cause [Effect] its earnings are exposed to volatility in oil and gas prices, which may negatively affect earnings",
    "gold": "[Cause] PetroChina is an integrated oil and gas producer [Relation] cause [Effect] its earnings are exposed to volatility in oil and gas prices, which may negatively affect earnings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Expanding business outside the triad of Japan, North America, and Europe is critical for Honda and all other automakers, as firms should produce where they sell to mitigate exchange risk.",
    "output": "[Cause] firms should produce where they sell to mitigate exchange risk [Relation] cause [Effect] Expanding business outside the triad of Japan, North America, and Europe is critical for Honda and all other automakers",
    "gold": "[Cause] firms should produce where they sell to mitigate exchange risk [Relation] cause [Effect] Expanding business outside the triad of Japan, North America, and Europe is critical for Honda and all other automakers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Combined with its fairly high leverage, and a business model that depends on drilling, DCP's earnings are likely to be more volatile than peers', and include a higher risk of financial distress.",
    "output": "[Cause] its fairly high leverage, and a business model that depends on drilling [Relation] cause [Effect] DCP's earnings are likely to be more volatile than peers', and include a higher risk of financial distress",
    "gold": "[Cause]  its fairly high leverage, and a business model that depends on drilling [Relation] cause [Effect]  DCP's earnings are likely to be more volatile than peers', and include a higher risk of financial distress",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Adient operates in a just-in-time system for its complete seat system plants, so it has to build with its customers, subjecting it to excess capacity in bad times.",
    "output": "[Cause] Adient operates in a just-in-time system for its complete seat system plants [Relation] cause [Effect] it has to build with its customers, subjecting it to excess capacity in bad times",
    "gold": "[Cause] Adient operates in a just-in-time system for its complete seat system plants [Relation] cause [Effect] it has to build with its customers, subjecting it to excess capacity in bad times",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, in light of COVID-19, Dassault faces risks associated with its exposure to the airline industry, given the significant potential that these customers (like Boeing and Airbus) could go bankrupt.",
    "output": "[Cause] the significant potential that these customers (like Boeing and Airbus) could go bankrupt [Relation] cause [Effect] Dassault faces risks associated with its exposure to the airline industry",
    "gold": "[Cause] in light of COVID-19 [Relation] cause [Effect] Dassault faces risks associated with its exposure to the airline industry",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the rise of advanced 4G LTE-enabled smartphones, which use a wider variety of wireless spectrum and frequency bands than in prior generations of networks, RF content per phone has grown exponentially in recent years, lifting both Skyworks and its RF competitors.",
    "output": "[Cause] the rise of advanced 4G LTE-enabled smartphones, which use a wider variety of wireless spectrum and frequency bands than in prior generations of networks [Relation] cause [Effect] RF content per phone has grown exponentially in recent years, lifting both Skyworks and its RF competitors",
    "gold": "[Cause]  RF content per phone has grown exponentially in recent years [Relation] enable [Effect] ifting both Skyworks and its RF competitors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although its e-commerce skyrocketed during the pandemic (30% of sales in 2020, up from 16% in 2019), we think Dick's large base of about 850 stores limits its flexibility.",
    "output": "[Cause] Dick's large base of about 850 stores [Relation] prevent [Effect] its flexibility",
    "gold": "[Cause] Dick's large base of about 850 stores [Relation] prevent [Effect] its flexibility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect revenue to increase at a little over 1% annually in the next five years. This is a result of us forecasting a downturn in the economy and revenue over the next year that takes two to three years to recover from.",
    "output": "[Cause] a downturn in the economy and revenue over the next year that takes two to three years to recover from [Relation] cause [Effect] revenue to increase at a little over 1% annually in the next five years",
    "gold": "[Cause]  a downturn in the economy and revenue over the next year that takes two to three years to recover from [Relation] cause [Effect]  revenue to increase at a little over 1% annually in the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It is known as Canada's most international bank as it derives half of its revenue from Canada, over 40% from international operations (primarily Latin America, namely Mexico, Peru, and Chile), and a single-digit percentage from the United States.",
    "output": "[Cause] it derives half of its revenue from Canada, over 40% from international operations (primarily Latin America, namely Mexico, Peru, and Chile), and a single-digit percentage from the United States [Relation] cause [Effect] It is known as Canada's most international bank",
    "gold": "[Cause] it derives half of its revenue from Canada, over 40% from international operations (primarily Latin America, namely Mexico, Peru, and Chile), and a single-digit percentage from the United States [Relation] cause [Effect] It is known as Canada's most international bank",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that TAL Education shall be able to attract some of the good quality teachers from the smaller players, which may attract more students.",
    "output": "[Cause] attract some of the good quality teachers from the smaller players [Relation] enable [Effect] attract more students",
    "gold": "[Cause] AL Education [Relation] enable [Effect] attract some of the good quality teachers from the smaller players",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect United's fundamentals will recover after a COVID-19 vaccine is distributed, which we assume will occur in 2021, and business travel subsequently resumes.",
    "output": "[Cause] a COVID-19 vaccine is distributed [Relation] cause [Effect] United's fundamentals will recover",
    "gold": "[Cause] United's fundamentals will recover after a COVID-19 vaccine is distributed [Relation] cause [Effect] business travel subsequently resumes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While it receives quite a bit of rain, Mexico is also one of the most flood-prone countries in the region, and thus drainage systems take most of this water away in order to avoid prohibitive damage to infrastructure.",
    "output": "[Cause] drainage systems take most of this water away [Relation] prevent [Effect] prohibitive damage to infrastructure",
    "gold": "[Cause] drainage systems take most of this water away [Relation] prevent [Effect] prohibitive damage to infrastructure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do not expect material competition or churn as Veeva's customer penetration should continue to deepen into mission-critical operations as customers subscribe to an increasing number of add-on modules.",
    "output": "[Cause] Veeva's customer penetration should continue to deepen into mission-critical operations [Relation] cause [Effect] material competition or churn",
    "gold": "[Cause] Veeva's customer penetration should continue to deepen into mission-critical operations [Relation] prevent [Effect] material competition or churn",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do not expect material competition or churn as Veeva's customer penetration should continue to deepen into mission-critical operations as customers subscribe to an increasing number of add-on modules.",
    "output": "[Cause] Veeva's customer penetration should continue to deepen into mission-critical operations [Relation] cause [Effect] material competition or churn",
    "gold": "[Cause] customers subscribe to an increasing number of add-on modules [Relation] cause [Effect] Veeva's customer penetration should continue to deepen into mission-critical operations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, many e-tailers are beginning to open stores in Class A malls to take advantage of the high foot traffic, as a physical presence provides additional marketing, a showroom for products they want to highlight, and another source of sales.",
    "output": "[Cause] physical presence provides additional marketing, a showroom for products they want to highlight, and another source of sales [Relation] cause [Effect] many e-tailers are beginning to open stores in Class A malls to take advantage of the high foot traffic",
    "gold": "[Cause] take advantage of the high foot traffic [Relation] cause [Effect] many e-tailers are beginning to open stores in Class A malls",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, many e-tailers are beginning to open stores in Class A malls to take advantage of the high foot traffic, as a physical presence provides additional marketing, a showroom for products they want to highlight, and another source of sales.",
    "output": "[Cause] physical presence provides additional marketing, a showroom for products they want to highlight, and another source of sales [Relation] cause [Effect] many e-tailers are beginning to open stores in Class A malls to take advantage of the high foot traffic",
    "gold": "[Cause]  physical presence provides additional marketing [Relation] cause [Effect] a showroom for products they want to highlight",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because Slack already generates GAAP gross margins at the high end of the software peer group, we anticipate that GAAP gross margins will dip slightly initially but recover and remain generally stable at 87% throughout the remainder of our discrete forecast period.",
    "output": "[Cause] Slack already generates GAAP gross margins at the high end of the software peer group [Relation] cause [Effect] GAAP gross margins will dip slightly initially but recover and remain generally stable at 87% throughout the remainder of our discrete forecast period",
    "gold": "[Cause] Slack already generates GAAP gross margins at the high end of the software peer group [Relation] cause [Effect] GAAP gross margins will dip slightly initially but recover and remain generally stable at 87% throughout the remainder of our discrete forecast period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For standalone Discovery, we forecast average annual international sales growth of 5% over the next five years, driven by annual growth of 4% in distribution and 5% in advertising.",
    "output": "[Cause] annual growth of 4% in distribution and 5% in advertising [Relation] cause [Effect] average annual international sales growth of 5% over the next five years",
    "gold": "[Cause] annual growth of 4% in distribution and 5% in advertising [Relation] cause [Effect] average annual international sales growth of 5% over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the long term, we anticipate Icon will increase revenue in the high single digits due to low-single-digit growth in biopharma research and development spending, as well as modest increases in outsourcing penetration.",
    "output": "[Cause] low-single-digit growth in biopharma research and development spending, as well as modest increases in outsourcing penetration [Relation] cause [Effect] Icon will increase revenue in the high single digits",
    "gold": "[Cause]  low-single-digit growth in biopharma research and development spending, as well as modest increases in outsourcing penetration [Relation] cause [Effect] Icon will increase revenue in the high single digits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe its market position stems from the intangible assets and switching costs that Airbus and its predecessor companies constructed over decades of supplying aircraft and weapons to European and international governments.",
    "output": "[Cause] the intangible assets and switching costs that Airbus and its predecessor companies constructed over decades of supplying aircraft and weapons to European and international governments [Relation] cause [Effect] its market position",
    "gold": "[Cause] the intangible assets and switching costs that Airbus and its predecessor companies constructed over decades of supplying aircraft and weapons to European and international governments [Relation] enable [Effect] its market position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Several cities have returning to citywide quarantines, and travel volume during the early period of Chinese New Year is down 70%, placing pressure on the company's near-term results.",
    "output": "[Cause] Several cities have returning to citywide quarantines, and travel volume during the early period of Chinese New Year is down 70% [Relation] cause [Effect] placing pressure on the company's near-term results",
    "gold": "[Cause] Several cities have returning to citywide quarantines, and travel volume during the early period of Chinese New Year is down 70% [Relation] enable [Effect]  placing pressure on the company's near-term results",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, customer pack data fuels better cube optimization and damage reduction, allowing Sealed Air to offer various levels of no-damage guarantees.",
    "output": "[Cause] customer pack data fuels better cube optimization and damage reduction [Relation] enable [Effect] Sealed Air to offer various levels of no-damage guarantees",
    "gold": "[Cause] customer pack data fuels better cube optimization and damage reduction [Relation] enable [Effect] Sealed Air to offer various levels of no-damage guarantees",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "An extensive salesforce makes J&amp;J a powerful candidate for a smaller biotechnology company looking to partner on a new drug, which strengthens Johnson &amp; Johnson's ability to bring new products to market.",
    "output": "[Cause] An extensive salesforce [Relation] enable [Effect] J&amp;J a powerful candidate for a smaller biotechnology company looking to partner on a new drug",
    "gold": "[Cause] An extensive salesforce [Relation] enable [Effect] J&amp;J a powerful candidate for a smaller biotechnology company looking to partner on a new drug",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "An extensive salesforce makes J&amp;J a powerful candidate for a smaller biotechnology company looking to partner on a new drug, which strengthens Johnson &amp; Johnson's ability to bring new products to market.",
    "output": "[Cause] An extensive salesforce [Relation] enable [Effect] J&amp;J a powerful candidate for a smaller biotechnology company looking to partner on a new drug",
    "gold": "[Cause] An extensive salesforce [Relation] enable [Effect] strengthens Johnson &amp; Johnson's ability to bring new products to market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Approximately 90% of cost of sales is network carrier fees, which we believe will limit Twilio's ability to significantly expand gross margins to become more in line with other SaaS companies.",
    "output": "[Cause] Approximately 90% of cost of sales is network carrier fees [Relation] prevent [Effect] Twilio's ability to significantly expand gross margins to become more in line with other SaaS companies",
    "gold": "[Cause] Approximately 90% of cost of sales is network carrier fees [Relation] prevent [Effect] Twilio's ability to significantly expand gross margins to become more in line with other SaaS companies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Limited competition in its core credit bureau business allows Equifax to enjoy strong margins, but the maturity of its core business restricts growth, so the company has been expanding through acquisition into new geographies and new lines.",
    "output": "[Cause] Limited competition in its core credit bureau business [Relation] enable [Effect] Equifax to enjoy strong margins",
    "gold": "[Cause] Limited competition in its core credit bureau business [Relation] enable [Effect]  Equifax to enjoy strong margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Limited competition in its core credit bureau business allows Equifax to enjoy strong margins, but the maturity of its core business restricts growth, so the company has been expanding through acquisition into new geographies and new lines.",
    "output": "[Cause] the maturity of its core business [Relation] prevent [Effect] growth",
    "gold": "[Cause] the maturity of its core business [Relation] prevent [Effect] growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Limited competition in its core credit bureau business allows Equifax to enjoy strong margins, but the maturity of its core business restricts growth, so the company has been expanding through acquisition into new geographies and new lines.",
    "output": "[Cause] the maturity of its core business [Relation] prevent [Effect] growth",
    "gold": "[Cause]  the maturity of its core business [Relation] cause [Effect] the company has been expanding through acquisition into new geographies and new lines",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Third, it enables remote monitoring, so a hospital patient's drug delivery can be monitored after the patient has been sent home for recovery.",
    "output": "[Cause] it enables remote monitoring [Relation] enable [Effect] a hospital patient's drug delivery can be monitored after the patient has been sent home for recovery",
    "gold": "[Cause] it enables remote monitoring [Relation] enable [Effect] a hospital patient's drug delivery can be monitored after the patient has been sent home for recovery",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "One can imagine the frustration and possible reputational damage to a product if a perfectly functioning electric toothbrush or thermostat were to fail because of an unforeseen change in how the MCU or analog chip interacts with the rest of the circuit board.",
    "output": "[Cause] an unforeseen change in how the MCU or analog chip interacts with the rest of the circuit board [Relation] cause [Effect] a perfectly functioning electric toothbrush or thermostat were to fail",
    "gold": "[Cause] a perfectly functioning electric toothbrush or thermostat were to fail [Relation] cause [Effect] the frustration and possible reputational damage to a product",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "One can imagine the frustration and possible reputational damage to a product if a perfectly functioning electric toothbrush or thermostat were to fail because of an unforeseen change in how the MCU or analog chip interacts with the rest of the circuit board.",
    "output": "[Cause] an unforeseen change in how the MCU or analog chip interacts with the rest of the circuit board [Relation] cause [Effect] a perfectly functioning electric toothbrush or thermostat were to fail",
    "gold": "[Cause] an unforeseen change in how the MCU or analog chip interacts with the rest of the circuit board [Relation] cause [Effect] a perfectly functioning electric toothbrush or thermostat were to fail",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Grifols was able to relieve Talecris of its manufacturing bottlenecks, and their manufacturing facilities combine for more efficient production at higher scale.",
    "output": "[Cause] Grifols was able to relieve Talecris of its manufacturing bottlenecks [Relation] enable [Effect] their manufacturing facilities combine for more efficient production at higher scale",
    "gold": "[Cause] Grifols [Relation] enable [Effect] relieve Talecris of its manufacturing bottlenecks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe Amphenol will continue to benefit from the secular trends surrounding efficiency, electrification, and automation across the broader industrial landscape and the proliferation of data centers, resulting in returns on invested capital exceeding the company's cost of capital.",
    "output": "[Cause] Amphenol will continue to benefit from the secular trends surrounding efficiency, electrification, and automation across the broader industrial landscape and the proliferation of data centers [Relation] cause [Effect] returns on invested capital exceeding the company's cost of capital",
    "gold": "[Cause]  Amphenol will continue to benefit from the secular trends surrounding efficiency, electrification, and automation across the broader industrial landscape and the proliferation of data centers [Relation] cause [Effect] returns on invested capital exceeding the company's cost of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Colfax's medical business may also face pricing pressure if payers, including Medicare and Medicaid, reduce coverage and reimbursements for joint-reconstruction procedures.",
    "output": "[Cause] payers, including Medicare and Medicaid, reduce coverage and reimbursements for joint-reconstruction procedures [Relation] cause [Effect] Colfax's medical business may also face pricing pressure",
    "gold": "[Cause] payers, including Medicare and Medicaid, reduce coverage and reimbursements for joint-reconstruction procedures [Relation] cause [Effect] Colfax's medical business may also face pricing pressure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The combination of these valuable assets and expected continuing growth in online advertising bodes well for Facebook, as the firm generates strong top-line growth and remains cash flow positive and profitable.",
    "output": "[Cause] the firm generates strong top-line growth and remains cash flow positive and profitable [Relation] cause [Effect] The combination of these valuable assets and expected continuing growth in online advertising bodes well for Facebook",
    "gold": "[Cause] the firm generates strong top-line growth and remains cash flow positive and profitable [Relation] cause [Effect] The combination of these valuable assets and expected continuing growth in online advertising bodes well for Facebook",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that a diversified client base strengthens IQVIA's competitive advantage as small/midsize clients are likely to need full outsourcing solutions, while large pharmaceutical companies offer profitable preferred partnerships with high switching costs, choosing one or a few trusted CROs to which they funnel most of their new business.",
    "output": "[Cause] small/midsize clients are likely to need full outsourcing solutions, while large pharmaceutical companies offer profitable preferred partnerships with high switching costs, choosing one or a few trusted CROs to which they funnel most of their new business [Relation] cause [Effect] a diversified client base strengthens IQVIA's competitive advantage",
    "gold": "[Cause] small/midsize clients are likely to need full outsourcing solutions, while large pharmaceutical companies offer profitable preferred partnerships with high switching costs, choosing one or a few trusted CROs to which they funnel most of their new business [Relation] cause [Effect] a diversified client base strengthens IQVIA's competitive advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Tulip's primary revenue source is private label products, we hold that this business does not maintain brand intangible assets, either.",
    "output": "[Cause] Tulip's primary revenue source is private label products [Relation] cause [Effect] we hold that this business does not maintain brand intangible assets, either",
    "gold": "[Cause] Tulip's primary revenue source is private label products [Relation] cause [Effect] we hold that this business does not maintain brand intangible assets, either",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And, since Illumina's Galleri is targeting 50 cancers, is it unclear whether a trade-off for slightly higher sensitivity without screening for as many cancers will be attractive.",
    "output": "[Cause] Illumina's Galleri is targeting 50 cancers [Relation] cause [Effect] is it unclear whether a trade-off for slightly higher sensitivity without screening for as many cancers will be attractive",
    "gold": "[Cause] Illumina's Galleri is targeting 50 cancers [Relation] cause [Effect] is it unclear whether a trade-off for slightly higher sensitivity without screening for as many cancers will be attractive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, as travel slowly returns to normal once the virus has passed, we think the company should see strong growth in 2021 and beyond and the company should eventually return to 2019 levels by 2024 in our base-case scenario.",
    "output": "[Cause] travel slowly returns to normal once the virus has passed [Relation] cause [Effect] the company should see strong growth in 2021 and beyond and the company should eventually return to 2019 levels by 2024 in our base-case scenario",
    "gold": "[Cause]  travel slowly returns to normal once the virus has passed [Relation] cause [Effect] the company should see strong growth in 2021 and beyond and the company should eventually return to 2019 levels by 2024 in our base-case scenario",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For Arrow, the value-added services of both segments are playing a larger role in generating revenue, while the firm has increased its market share for demand creation as supplier channels have realigned.",
    "output": "[Cause] supplier channels have realigned [Relation] cause [Effect] the firm has increased its market share for demand creation",
    "gold": "[Cause] supplier channels have realigned [Relation] enable [Effect] the firm has increased its market share for demand creation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Brand recognition for these generics generally supports customer loyalty and more stable prices, but governments can intervene with mandated pricing or tender-based bidding.",
    "output": "[Cause] Brand recognition for these generics [Relation] enable [Effect] customer loyalty and more stable prices",
    "gold": "[Cause] Brand recognition for these generics [Relation] enable [Effect] customer loyalty and more stable prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "OEMs and suppliers will gladly pay more for TE's innovative content in order to bring new capabilities to market, especially considering it still represents a tiny fraction of their overall bill of materials.",
    "output": "[Cause] OEMs and suppliers will gladly pay more for TE's innovative content [Relation] enable [Effect] bring new capabilities to market",
    "gold": "[Cause] OEMs and suppliers will gladly pay more for TE's innovative content [Relation] enable [Effect] bring new capabilities to market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Orange has also been the main builder of fiber optics in France, which will result in better unit economics for the company in the long-term as the payment scheme set by French regulators favors players that took more risks in the buildout phase.",
    "output": "[Cause] Orange has also been the main builder of fiber optics in France [Relation] cause [Effect] better unit economics for the company in the long-term",
    "gold": "[Cause] the payment scheme set by French regulators favors players that took more risks in the buildout phase [Relation] enable [Effect] Orange has also been the main builder of fiber optics in France, which will result in better unit economics for the company in the long-term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect equipment operations to generate a 14% operating margin in 2021, as market fundamentals improve significantly compared with 2020.",
    "output": "[Cause] market fundamentals improve significantly compared with 2020 [Relation] cause [Effect] equipment operations to generate a 14% operating margin in 2021",
    "gold": "[Cause] market fundamentals improve significantly compared with 2020 [Relation] cause [Effect]  equipment operations to generate a 14% operating margin in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company owns a massive network of processing plants, storage facilities, mills, port operations, and transportation options that would be difficult to replicate from scratch.",
    "output": "[Cause] The company owns a massive network of processing plants, storage facilities, mills, port operations, and transportation options [Relation] cause [Effect] difficult to replicate from scratch",
    "gold": "[Cause] The company owns a massive network of processing plants, storage facilities, mills, port operations, and transportation options [Relation] cause [Effect] difficult to replicate from scratch",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assign Jacobs a high uncertainty rating as engineering & construction firms have to contend with a high degree of cyclicality and face the risk of large losses on individual projects, often due to factors largely beyond their control.",
    "output": "[Cause] factors largely beyond their control [Relation] cause [Effect] engineering & construction firms have to contend with a high degree of cyclicality and face the risk of large losses on individual projects",
    "gold": "[Cause] engineering & construction firms have to contend with a high degree of cyclicality and face the risk of large losses on individual projects, often due to factors largely beyond their control [Relation] cause [Effect] We assign Jacobs a high uncertainty rating",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A jump in midstream earnings following the completion of Adelphia Gateway along with contributions from solar growth result in consolidated earnings growth that should top the core regulated utility growth.",
    "output": "[Cause] A jump in midstream earnings following the completion of Adelphia Gateway along with contributions from solar growth [Relation] cause [Effect] consolidated earnings growth that should top the core regulated utility growth",
    "gold": "[Cause] A jump in midstream earnings following the completion of Adelphia Gateway along with contributions from solar growth [Relation] enable [Effect] consolidated earnings growth that should top the core regulated utility growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that KDDI has signed a domestic roaming agreement with Rakuten to provide roaming outside Rakuten's network, it should be partially hedged against any potential success for Rakuten.",
    "output": "[Cause] KDDI has signed a domestic roaming agreement with Rakuten to provide roaming outside Rakuten's network [Relation] cause [Effect] it should be partially hedged against any potential success for Rakuten",
    "gold": "[Cause] KDDI has signed a domestic roaming agreement with Rakuten to provide roaming outside Rakuten's network [Relation] cause [Effect]  it should be partially hedged against any potential success for Rakuten",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Accenture is a leader in application services and think that Accenture's business process outsourcing, including application services, exhibits high switching costs.",
    "output": "[Cause] Accenture's business process outsourcing, including application services, exhibits high switching costs [Relation] cause [Effect] Accenture is a leader in application services",
    "gold": "[Cause] Accenture's business process outsourcing [Relation] cause [Effect] high switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The cost of the acquisition will directly flow to invested capital while the benefit will accrue over time, once Oxy gets to work developing Anadarko's assets.",
    "output": "[Cause] Oxy gets to work developing Anadarko's assets [Relation] cause [Effect] The cost of the acquisition will directly flow to invested capital while the benefit will accrue over time",
    "gold": "[Cause] Oxy gets to work developing Anadarko's assets [Relation] enable [Effect] The cost of the acquisition will directly flow to invested capital while the benefit will accrue over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After KeyBank incorporated NICE's interactions and AI-driven analytics offerings, the firm was able to automate redundant processes, gain insights into agent performance, and improve customer resolution based on the most frequent queries.",
    "output": "[Cause] KeyBank incorporated NICE's interactions and AI-driven analytics offerings [Relation] enable [Effect] the firm was able to automate redundant processes, gain insights into agent performance, and improve customer resolution based on the most frequent queries",
    "gold": "[Cause] KeyBank incorporated NICE's interactions and AI-driven analytics offerings [Relation] enable [Effect] the firm was able to automate redundant processes, gain insights into agent performance, and improve customer resolution based on the most frequent queries",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Considering the former, adding stores strategically in key markets expands the more profitable carryout market, improves delivery times by an estimated two minutes, and expands the U.S.",
    "output": "[Cause] adding stores strategically in key markets [Relation] enable [Effect] expands the more profitable carryout market",
    "gold": "[Cause]  adding stores strategically in key markets [Relation] enable [Effect] expands the more profitable carryout market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lululemon's chain of retail stores provides a sustainable competitive advantage, even though the COVID-19 crisis forced temporary closures in 2020.",
    "output": "[Cause] the COVID-19 crisis [Relation] cause [Effect] temporary closures in 2020",
    "gold": "[Cause] the COVID-19 crisis [Relation] cause [Effect]  temporary closures in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the company is expected to produce revenue growth at the high end of peers and the premium may be justified, higher absolute valuation levels offer less room for missteps and therefore carry greater inherent risks, in our opinion.",
    "output": "[Cause] higher absolute valuation levels [Relation] cause [Effect] less room for missteps",
    "gold": "[Cause] higher absolute valuation levels [Relation] enable [Effect]  less room for missteps",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the company is expected to produce revenue growth at the high end of peers and the premium may be justified, higher absolute valuation levels offer less room for missteps and therefore carry greater inherent risks, in our opinion.",
    "output": "[Cause] higher absolute valuation levels [Relation] cause [Effect] less room for missteps",
    "gold": "[Cause] higher absolute valuation levels [Relation] enable [Effect] greater inherent risks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We project operating margins (unadjusted for cost reimbursement) reaching 18.8% in 2030 from 12.6% in the prepandemic year of 2019, aided by lower labor expense.",
    "output": "[Cause] lower labor expense [Relation] enable [Effect] operating margins (unadjusted for cost reimbursement) reaching 18.8% in 2030 from 12.6% in the prepandemic year of 2019",
    "gold": "[Cause] lower labor expense [Relation] enable [Effect] operating margins (unadjusted for cost reimbursement) reaching 18.8% in 2030 from 12.6% in the prepandemic year of 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast prices will rise roughly 5% per year on average, as it will take time for lower-cost producers to compete.",
    "output": "[Cause] it will take time for lower-cost producers to compete [Relation] cause [Effect] prices will rise roughly 5% per year on average",
    "gold": "[Cause] it will take time for lower-cost producers to compete [Relation] cause [Effect] prices will rise roughly 5% per year on average",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We acknowledge that pricing has been a point of weakness in the past for Ferguson as branch managers had discretion over product discounts based on customer activity, which promoted a focus on growth over profitability.",
    "output": "[Cause] branch managers had discretion over product discounts based on customer activity [Relation] cause [Effect] pricing has been a point of weakness in the past for Ferguson",
    "gold": "[Cause]  branch managers had discretion over product discounts based on customer activity [Relation] cause [Effect] pricing has been a point of weakness in the past for Ferguson",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We acknowledge that pricing has been a point of weakness in the past for Ferguson as branch managers had discretion over product discounts based on customer activity, which promoted a focus on growth over profitability.",
    "output": "[Cause] branch managers had discretion over product discounts based on customer activity [Relation] cause [Effect] pricing has been a point of weakness in the past for Ferguson",
    "gold": "[Cause]  branch managers had discretion over product discounts based on customer activity [Relation] enable [Effect]  a focus on growth over profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The diminished value of its data collection efforts makes it easier for retailers to switch credit card providers if they believe they can receive better terms elsewhere.",
    "output": "[Cause] The diminished value of its data collection efforts [Relation] enable [Effect] easier for retailers to switch credit card providers",
    "gold": "[Cause] The diminished value of its data collection efforts [Relation] cause [Effect]  easier for retailers to switch credit card providers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's OR (expenses/revenue) deteriorated slightly to 58.8% in 2020 on lower volumes and the falloff in export coal pricing, but a sub-60% OR is nonetheless impressive, especially amid very high volume volatility.",
    "output": "[Cause] lower volumes and the falloff in export coal pricing [Relation] cause [Effect] The firm's OR (expenses/revenue) deteriorated slightly to 58.8% in 2020",
    "gold": "[Cause]  lower volumes and the falloff in export coal pricing [Relation] cause [Effect] The firm's OR (expenses/revenue) deteriorated slightly to 58.8% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Efforts to reorganize the business and streamline strategy have helped improve these metrics (with free cash flow rising more than 50% in 2020 versus 2019), and we think further gains should be realized ahead, as further economics are extracted from the business.",
    "output": "[Cause] further economics are extracted from the business [Relation] cause [Effect] further gains should be realized ahead",
    "gold": "[Cause] further economics are extracted from the business [Relation] cause [Effect] further gains should be realized ahead",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Approximately $2 of the increase is from earnings since our previous valuation update, while the remaining $6 is from miscellaneous adjustments, such as projecting a continuation of recently high trading volumes for a while longer and giving the company more credit for some of its investments.",
    "output": "[Cause] miscellaneous adjustments [Relation] cause [Effect] the remaining $6",
    "gold": "[Cause]  projecting a continuation of recently high trading volumes for a while longer [Relation] cause [Effect]  the company more credit for some of its investments",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As Lyft benefits from its network effect, we think the company has also secured access to valuable intangible assets in the form of driver and rider user data, which we suspect helps the firm improve its services.",
    "output": "[Cause] Lyft benefits from its network effect [Relation] cause [Effect] the company has also secured access to valuable intangible assets in the form of driver and rider user data",
    "gold": "[Cause]  the company has also secured access to valuable intangible assets in the form of driver and rider user data [Relation] enable [Effect]  the firm improve its services",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The single-greatest risk to the Oneok story is failure of demand for natural gas liquids from the petrochemical industry in the Gulf of Mexico to materialize.",
    "output": "[Cause] failure of demand for natural gas liquids from the petrochemical industry in the Gulf of Mexico to materialize [Relation] cause [Effect] The single-greatest risk to the Oneok story",
    "gold": "[Cause] The single-greatest risk to the Oneok story is failure of demand for [Relation] prevent [Effect] natural gas liquids from the petrochemical industry in the Gulf of Mexico to materialize.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Under Armour's gross margin dropped to 46.9% in 2019 from 49.0% in 2014 on excess inventory, restructuring, new competition, and heavy discounting by competitors.",
    "output": "[Cause] heavy discounting by competitors [Relation] cause [Effect] Under Armour's gross margin dropped to 46.9% in 2019 from 49.0% in 2014",
    "gold": "[Cause] heavy discounting by competitors [Relation] cause [Effect] Under Armour's gross margin dropped to 46.9% in 2019 from 49.0% in 2014",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the elevated risk of Fluor's backlog, the company could experience further cost overruns on its fixed-price contracts, which drives a wide dispersion between our bear-case and bull-case scenarios and is reflected in the extreme uncertainty rating for Fluor.",
    "output": "[Cause] the elevated risk of Fluor's backlog [Relation] cause [Effect] the company could experience further cost overruns on its fixed-price contracts",
    "gold": "[Cause] the company could experience further cost overruns on its fixed-price contracts [Relation] cause [Effect] drives a wide dispersion between our bear-case and bull-case scenarios",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "According to data analytics company Thasos, traffic at shopping malls had been declining mid-single-digits since at least 2017, and although traffic improved intermittently, we foresee forward pressure to footfalls stemming from COVID-19.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] forward pressure to footfalls",
    "gold": "[Cause] COVID-19 [Relation] prevent [Effect] traffic at shopping malls",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect Ericsson to earn 4% revenue growth in 2021 and generate a five-year revenue CAGR of 2%, which is mainly driven by CSP 5G network build outs and additional 4G capacity demand.",
    "output": "[Cause] CSP 5G network build outs and additional 4G capacity demand [Relation] cause [Effect] Ericsson to earn 4% revenue growth in 2021 and generate a five-year revenue CAGR of 2%",
    "gold": "[Cause] CSP 5G network build outs and additional 4G capacity demand [Relation] enable [Effect] Ericsson to earn 4% revenue growth in 2021 and generate a five-year revenue CAGR of 2%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Targeting a broad consumer base with a core customer who is female, 35-65 years old with household income of $50,000-$250,000 also means Wayfair is competing with mass-market retailers, specialty retail, and low-cost providers, making it harder to stay front of mind perpetually.",
    "output": "[Cause] Targeting a broad consumer base with a core customer who is female, 35-65 years old with household income of $50,000-$250,000 [Relation] cause [Effect] Wayfair is competing with mass-market retailers, specialty retail, and low-cost providers",
    "gold": "[Cause] Targeting a broad consumer base with a core customer who is female, 35-65 years old with household income of $50,000-$250,000 [Relation] cause [Effect] Wayfair is competing with mass-market retailers, specialty retail, and low-cost providers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are optimistic on the long-term global demand for chicken, as developed market consumers have been shifting consumption of red meat toward leaner proteins like poultry, and in emerging markets, a growing middle class is driving higher per capita consumption of protein.",
    "output": "[Cause] a growing middle class [Relation] enable [Effect] driving higher per capita consumption of protein",
    "gold": "[Cause] a growing middle class is driving higher per capita consumption of protein [Relation] cause [Effect]  long-term global demand for chicken",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Historically, Dentsply Sirona's exposure to specialty dental markets--orthodontics, endodontics, and implants--had lessened the company's reliance on the more commodified part of its consumables Medical Instruments & Suppliesbusiness, but the we see pricing pressure weighing on specialty products in the long term.",
    "output": "[Cause] Dentsply Sirona's exposure to specialty dental markets--orthodontics, endodontics, and implants [Relation] prevent [Effect] the company's reliance on the more commodified part of its consumables Medical Instruments & Suppliesbusiness",
    "gold": "[Cause] Dentsply Sirona's exposure to specialty dental markets--orthodontics, endodontics, and implants [Relation] prevent [Effect] the company's reliance on the more commodified part of its consumables Medical Instruments & Suppliesbusiness",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "PerkinElmer's competitive positioning has certainly shifted for the better, and with several attractive avenues of growth within reach, particularly in emerging markets, we believe the firm will produce tangible benefits for shareholders for the next several years.",
    "output": "[Cause] PerkinElmer's competitive positioning has certainly shifted for the better, and with several attractive avenues of growth within reach, particularly in emerging markets [Relation] enable [Effect] the firm will produce tangible benefits for shareholders for the next several years",
    "gold": "[Cause] PerkinElmer's competitive positioning has certainly shifted for the better, and with several attractive avenues of growth within reach, particularly in emerging markets [Relation] enable [Effect]  the firm will produce tangible benefits for shareholders for the next several years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "All these factors should keep the company growing for many years, despite more competition from franchised dealers and online-only startups, and may lead to international expansion.",
    "output": "[Cause] All these factors [Relation] enable [Effect] keep the company growing for many years",
    "gold": "[Cause]  more competition from franchised dealers and online-only startups [Relation] cause [Effect]  international expansion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company also faces regulatory risk related to its new crop chemicals as it must gain regulatory approval in all geographies for a new product.",
    "output": "[Cause] it must gain regulatory approval in all geographies for a new product [Relation] cause [Effect] The company also faces regulatory risk related to its new crop chemicals",
    "gold": "[Cause]  it must gain regulatory approval in all geographies for a new product [Relation] enable [Effect] The company also faces regulatory risk related to its new crop chemicals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast that MongoDB's gross margins will stay relatively the same, as the company's increasing mix of Atlas revenue is somewhat margin dilutive in the near term.",
    "output": "[Cause] the company's increasing mix of Atlas revenue is somewhat margin dilutive in the near term [Relation] cause [Effect] MongoDB's gross margins will stay relatively the same",
    "gold": "[Cause] the company's increasing mix of Atlas revenue is somewhat margin dilutive in the near term [Relation] enable [Effect] MongoDB's gross margins will stay relatively the same",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Case in point, in 2018, Walmart decided to not renew its agreement with Synchrony in favor of signing a new agreement with Capital One. This was a significant loss for Synchrony, as the Walmart partnership accounted for approximately 13% of Synchrony's credit card receivables at the time.",
    "output": "[Cause] Walmart partnership accounted for approximately 13% of Synchrony's credit card receivables at the time [Relation] cause [Effect] Walmart decided to not renew its agreement with Synchrony in favor of signing a new agreement with Capital One",
    "gold": "[Cause] Walmart decided to not renew its agreement with Synchrony in favor of signing a new agreement with Capital One [Relation] cause [Effect] Walmart partnership accounted for approximately 13% of Synchrony's credit card receivables at the time",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The acquisition of Mead Johnson and the disposal of the foods business has transformed Reckitt's portfolio such that almost half of its EBIT will be generated from leading positions in categories conducive to pricing power.",
    "output": "[Cause] The acquisition of Mead Johnson and the disposal of the foods business [Relation] enable [Effect] transformed Reckitt's portfolio such that almost half of its EBIT will be generated from leading positions in categories conducive to pricing power",
    "gold": "[Cause] leading positions in categories conducive to pricing power [Relation] enable [Effect] almost half of its EBIT",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect this approach, coupled with the recent purchase of additional wireless spectrum, will allow Verizon to maintain a strong network position in the traditional wireless market.",
    "output": "[Cause] this approach, coupled with the recent purchase of additional wireless spectrum [Relation] enable [Effect] Verizon to maintain a strong network position in the traditional wireless market",
    "gold": "[Cause]  this approach, coupled with the recent purchase of additional wireless spectrum [Relation] enable [Effect] Verizon to maintain a strong network position in the traditional wireless market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In fiscal 2021, we project adjusted EPS to slide by 14% to of GBX 50, mostly on the GBP 400 million impact on the EBIT from the COVID-19 fallout.",
    "output": "[Cause] the COVID-19 fallout [Relation] cause [Effect] the GBP 400 million impact on the EBIT",
    "gold": "[Cause] the GBP 400 million impact on the EBIT from the COVID-19 fallout [Relation] cause [Effect] adjusted EPS to slide by 14% to of GBX 50",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In fiscal 2021, we project adjusted EPS to slide by 14% to of GBX 50, mostly on the GBP 400 million impact on the EBIT from the COVID-19 fallout.",
    "output": "[Cause] the GBP 400 million impact on the EBIT from the COVID-19 fallout [Relation] cause [Effect] adjusted EPS to slide by 14% to of GBX 50",
    "gold": "[Cause]  the COVID-19 fallout [Relation] cause [Effect] the GBP 400 million impact on the EBIT",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Investor's legitimate concern about coal demand destruction from cheap natural gas and lower exports has periodically weighed on Norfolk's shares in recent years.",
    "output": "[Cause] Investor's legitimate concern about coal demand destruction from cheap natural gas and lower exports [Relation] cause [Effect] periodically weighed on Norfolk's shares in recent years",
    "gold": "[Cause]  cheap natural gas and lower exports has periodically weighed on Norfolk's shares [Relation] cause [Effect] Investor's legitimate concern about coal demand destruction",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "By accepting incomplete assortments without return privileges, paying promptly, and stocking brands discreetly (preserving labels' conventional-channel pricing power by avoiding the stigma of a consistent discount presence), TJX is a valued partner for its more than 21,000 vendors, in our view. As a result, TJX can opportunistically offer a fast-changing, high-value assortment in a treasure-hunt format that is hard to replicate digitally.",
    "output": "[Cause] By accepting incomplete assortments without return privileges, paying promptly, and stocking brands discreetly (preserving labels' conventional-channel pricing power by avoiding the stigma of a consistent discount presence), TJX is a valued partner for its more than 21,000 vendors, in our view [Relation] cause [Effect] TJX can opportunistically offer a fast-changing, high-value assortment in a treasure-hunt format that is hard to replicate digitally",
    "gold": "[Cause] By accepting incomplete assortments without return privileges, paying promptly, and stocking brands discreetly (preserving labels' conventional-channel pricing power by avoiding the stigma of a consistent discount presence), TJX is a valued partner for its more than 21,000 vendors, in our view [Relation] cause [Effect] TJX can opportunistically offer a fast-changing, high-value assortment in a treasure-hunt format that is hard to replicate digitally",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, over the next few years, we think the pork segment will grow 4%-5% annually, due to higher prices and strong export demand given the global pork shortage resulting from African swine fever.",
    "output": "[Cause] the global pork shortage resulting from African swine fever [Relation] cause [Effect] the pork segment will grow 4%-5% annually",
    "gold": "[Cause] African swine fever [Relation] cause [Effect] the global pork shortage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This margin is above the firm's historical run rate, but solid execution over the past few years increases our confidence in continued productivity progress across all segments.",
    "output": "[Cause] solid execution over the past few years [Relation] enable [Effect] increases our confidence in continued productivity progress across all segments",
    "gold": "[Cause]  solid execution over the past few years [Relation] cause [Effect] increases our confidence in continued productivity progress across all segments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even so, owing to COVID-19, we forecast a 2020 revenue decline of 21%, followed by a modest 15% rebound in 2021 and a return to more normalized revenue by 2023.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] a 2020 revenue decline of 21%, followed by a modest 15% rebound in 2021 and a return to more normalized revenue by 2023",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] a 2020 revenue decline of 21%, followed by a modest 15% rebound in 2021 and a return to more normalized revenue by 2023",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "One positive we see is a large increase in demand deposits, which has caused the bank's loan/deposit ratio to fall to 76%, down nearly 20% in just the last year.",
    "output": "[Cause] a large increase in demand deposits [Relation] cause [Effect] the bank's loan/deposit ratio to fall to 76%, down nearly 20% in just the last year",
    "gold": "[Cause] a large increase in demand deposits [Relation] cause [Effect] the bank's loan/deposit ratio to fall to 76%, down nearly 20% in just the last year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're impressed by management's prescient investments in loyalty and mobile ordering, with the adoption of operational improvements from CEO Brian Niccol's Taco Bell playbook (complementary rotating menu items, targeted marketing) helping to drive sustained comparable sales outperformance relative to peers.",
    "output": "[Cause] the adoption of operational improvements from CEO Brian Niccol's Taco Bell playbook [Relation] enable [Effect] drive sustained comparable sales outperformance relative to peers",
    "gold": "[Cause]  the adoption of operational improvements from CEO Brian Niccol's Taco Bell playbook (complementary rotating menu items, targeted marketing) helping to drive sustained comparable sales outperformance relative to peers [Relation] cause [Effect] We're impressed by management's prescient investments in loyalty and mobile ordering",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we don't expect these companies to materially stymie Zscaler's growth trajectory, the firm may have to spend more aggressively to win market share, given that many potential customers have invested heavily over many years in the appliance-based security networks that legacy competitors espouse.",
    "output": "[Cause] many potential customers have invested heavily over many years in the appliance-based security networks that legacy competitors espouse [Relation] cause [Effect] the firm may have to spend more aggressively to win market share",
    "gold": "[Cause] While we don't expect these companies to materially stymie Zscaler's growth trajectory, the firm may have to spend more aggressively to win market share [Relation] enable [Effect] given that many potential customers have invested heavily over many years in the appliance-based security networks that legacy competitors espouse",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Margin-accretive options like attaching services and support, as well as selling nascent trends like PC-as-a-service, provide Dell Technologies opportunities to expand its strong presence in the commercial PC market.",
    "output": "[Cause] Margin-accretive options like attaching services and support, as well as selling nascent trends like PC-as-a-service [Relation] enable [Effect] provide Dell Technologies opportunities to expand its strong presence in the commercial PC market",
    "gold": "[Cause] Margin-accretive options like attaching services and support, as well as selling nascent trends like PC-as-a-service [Relation] enable [Effect] provide Dell Technologies opportunities to expand its strong presence in the commercial PC market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Darden has been proactive with its ESG investments, going as far as reporting scope 1 and 2 emissions in its SEC filings, while its 2016 \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"Food Principles\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" purchasing guidelines help to alleviate ESG concerns in the supply chain.",
    "output": "[Cause] its 2016 \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"",
    "gold": "[Cause]  its 2016 \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"Food Principles\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" purchasing guidelines [Relation] enable [Effect] alleviate ESG concerns in the supply chain",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, since sales and marketing expenses are typically the largest cost for software companies, we believe margins can expand significantly as the company continues to scale.",
    "output": "[Cause] sales and marketing expenses are typically the largest cost for software companies [Relation] cause [Effect] margins can expand significantly as the company continues to scale",
    "gold": "[Cause]  sales and marketing expenses are typically the largest cost for software companies [Relation] enable [Effect]  margins can expand significantly as the company continues to scale",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "IUD usage rate to mirror the rate in other developed countries, leading to market saturation and a slowdown in segment revenue growth.",
    "output": "[Cause] IUD usage rate to mirror the rate in other developed countries [Relation] cause [Effect] market saturation and a slowdown in segment revenue growth",
    "gold": "[Cause] IUD usage rate to mirror the rate in other developed countries [Relation] cause [Effect] market saturation and a slowdown in segment revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, unlike North America, where a vibrant entrepreneurial sector provides steep competition in many products, the international market is much more oligopolistic, as few companies can maintain a viable level of scale across a wide variety of markets. As such, we have more confidence in Halliburton's ability to maintain economic profit generation in this subsegment than in any other portion of the business.",
    "output": "[Cause] unlike North America, where a vibrant entrepreneurial sector provides steep competition in many products, the international market is much more oligopolistic, as few companies can maintain a viable level of scale across a wide variety of markets [Relation] cause [Effect] we have more confidence in Halliburton's ability to maintain economic profit generation in this subsegment than in any other portion of the business",
    "gold": "[Cause] unlike North America, where a vibrant entrepreneurial sector provides steep competition in many products, the international market is much more oligopolistic, as few companies can maintain a viable level of scale across a wide variety of markets [Relation] cause [Effect] we have more confidence in Halliburton's ability to maintain economic profit generation in this subsegment than in any other portion of the business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the company instigated a number of changes over 2014 to 2015 that have helped restore both its balance sheet and our forecasts.",
    "output": "[Cause] the company instigated a number of changes over 2014 to 2015 [Relation] enable [Effect] restore both its balance sheet and our forecasts",
    "gold": "[Cause] the company instigated a number of changes over 2014 to 2015 [Relation] enable [Effect] restore both its balance sheet and our forecasts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the cereal category is in secular decline, the firm diversified its revenue base by entering the categories that were driving the legacy business' deterioration, such as eggs and protein-based nutritional products.",
    "output": "[Cause] the cereal category is in secular decline [Relation] cause [Effect] the firm diversified its revenue base by entering the categories that were driving the legacy business' deterioration",
    "gold": "[Cause] the cereal category is in secular decline [Relation] cause [Effect]  the firm diversified its revenue base by entering the categories that were driving the legacy business' deterioration",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the funding window for meaningful-use payments closed in 2015, the electronic medical record market was largely saturated, and growth in the physician segment slowed significantly.",
    "output": "[Cause] the funding window for meaningful-use payments closed in 2015 [Relation] cause [Effect] the electronic medical record market was largely saturated, and growth in the physician segment slowed significantly",
    "gold": "[Cause] the funding window for meaningful-use payments closed in 2015 [Relation] cause [Effect] the electronic medical record market was largely saturated, and growth in the physician segment slowed significantly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Key revenue drivers of price, volume, and mix are not disclosed so we have made several assumptions to project industry growth.",
    "output": "[Cause] Key revenue drivers of price, volume, and mix are not disclosed [Relation] cause [Effect] we have made several assumptions to project industry growth",
    "gold": "[Cause] Key revenue drivers of price, volume, and mix are not disclosed [Relation] cause [Effect] we have made several assumptions to project industry growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the immense risk of cost overruns in designing complex products such as bomber aircraft, this dynamic frequently works in the contractor's favor.",
    "output": "[Cause] the immense risk of cost overruns in designing complex products such as bomber aircraft [Relation] cause [Effect] this dynamic frequently works in the contractor's favor",
    "gold": "[Cause]  the immense risk of cost overruns in designing complex products such as bomber aircraft [Relation] cause [Effect] this dynamic frequently works in the contractor's favor",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The payment processing industry is evolving, and while the position of the acquirers within the current dominant framework is well established, disruption could lessen the profitability the industry can generate or cut the acquirers out altogether.",
    "output": "[Cause] disruption [Relation] prevent [Effect] the profitability the industry can generate or cut the acquirers out altogether",
    "gold": "[Cause] the position of the acquirers within the current dominant framework is well established [Relation] cause [Effect] disruption could lessen the profitability the industry can generate or cut the acquirers out altogether",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given that the workflow automation solution touches many areas outside of IT, notably HR and customer service, the overall opportunity available to ServiceNow is obviously larger still—we believe in excess of $150 billion.",
    "output": "[Cause] the workflow automation solution touches many areas outside of IT, notably HR and customer service [Relation] cause [Effect] the overall opportunity available to ServiceNow is obviously larger still—we believe in excess of $150 billion",
    "gold": "[Cause] Given that the workflow automation solution touches many areas outside of IT [Relation] cause [Effect] the overall opportunity available to ServiceNow is obviously larger still",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we expect the growth of digital retail to continue to pressure ADS' partners leading to low levels of credit card receivable growth after the 2020 trough.",
    "output": "[Cause] the growth of digital retail to continue to pressure ADS' partners [Relation] cause [Effect] low levels of credit card receivable growth after the 2020 trough",
    "gold": "[Cause] the growth of digital retail to continue to pressure ADS' partners [Relation] cause [Effect] low levels of credit card receivable growth after the 2020 trough",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In its core North America unit (about 40% of revenue), we expect a mid-single-digit percentage fiscal 2021 revenue uptick as Valvoline laps the pandemic's sales challenges, particularly as vaccines become widely available in the middle of the calendar year.",
    "output": "[Cause] Valvoline laps the pandemic's sales challenges, particularly as vaccines become widely available in the middle of the calendar year [Relation] cause [Effect] a mid-single-digit percentage fiscal 2021 revenue uptick",
    "gold": "[Cause]  Valvoline laps the pandemic's sales challenges, particularly as vaccines become widely available in the middle of the calendar year [Relation] cause [Effect]  a mid-single-digit percentage fiscal 2021 revenue uptick",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Imperial's diversified operations partially offset the impact of oil price volatility and, coupled with reduced capital spending, provide ample cash flow to maintain the company's financial position and explore growth opportunities, luxuries that pure-play peers do not have.",
    "output": "[Cause] Imperial's diversified operations partially offset the impact of oil price volatility [Relation] enable [Effect] provide ample cash flow to maintain the company's financial position and explore growth opportunities, luxuries that pure-play peers do not have",
    "gold": "[Cause] reduced capital spending, provide ample cash flow [Relation] enable [Effect] maintain the company's financial position and explore growth opportunities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Longer term, persistently intense competition, mutable customer tastes, and low- to middle-income shoppers' tenuous financial situation constitute the most significant threats to our outlook.",
    "output": "[Cause] Longer term, persistently intense competition, mutable customer tastes, and low- to middle-income shoppers' tenuous financial situation [Relation] cause [Effect] the most significant threats to our outlook",
    "gold": "[Cause] Longer term, persistently intense competition, mutable customer tastes, and low- to middle-income shoppers' tenuous financial situation [Relation] cause [Effect] most significant threats to our outlook.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although lower prices hurt gross profit margins, volume gains, especially among higher-margin spot buys and midsize accounts, have offset price reductions and helped the company meet its 12% to 13% operating margin goal by 2019 (12.1% adjusted operating margin in 2019).",
    "output": "[Cause] volume gains, especially among higher-margin spot buys and midsize accounts [Relation] prevent [Effect] price reductions and helped the company meet its 12% to 13% operating margin goal by 2019 (12.1% adjusted operating margin in 2019)",
    "gold": "[Cause] volume gains, especially among higher-margin spot buys and midsize accounts | offset price reductions [Relation] enable [Effect] the company meet its 12% to 13% operating margin goal by 2019 (12.1% adjusted operating margin in 2019)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The travel industry is cyclical and affected by changes in economic growth, terror attacks, and illness outbreaks like COVID-19.",
    "output": "[Cause] changes in economic growth, terror attacks, and illness outbreaks like COVID-19 [Relation] cause [Effect] The travel industry is cyclical",
    "gold": "[Cause] changes in economic growth, terror attacks, and illness outbreaks like COVID-19 [Relation] cause [Effect] The travel industry is cyclical",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also forecast capital spending to continue declining as small-cell deployments rely less on initial fiber build-outs and can more frequently co-locate on existing fiber.",
    "output": "[Cause] small-cell deployments rely less on initial fiber build-outs and can more frequently co-locate on existing fiber [Relation] cause [Effect] capital spending to continue declining",
    "gold": "[Cause] small-cell deployments rely less on initial fiber build-outs and can more frequently co-locate on existing fiber [Relation] cause [Effect] capital spending to continue declining",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With Wells Fargo's tech budget of roughly $9 billion per year, the bank will be able to maintain higher levels of investment while maintaining similar levels of efficiency.",
    "output": "[Cause] Wells Fargo's tech budget of roughly $9 billion per year [Relation] enable [Effect] the bank will be able to maintain higher levels of investment while maintaining similar levels of efficiency",
    "gold": "[Cause] Wells Fargo's tech budget of roughly $9 billion per year [Relation] cause [Effect] the bank will be able to maintain higher levels of investment while maintaining similar levels of efficiency",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our estimated compound revenue growth of around 2% over the next three years is driven by strong growth in assets under management from bullish markets and solid net new money inflows especially from Credit Suisse's Asian operations.",
    "output": "[Cause] strong growth in assets under management from bullish markets and solid net new money inflows especially from Credit Suisse's Asian operations [Relation] cause [Effect] Our estimated compound revenue growth of around 2% over the next three years",
    "gold": "[Cause] strong growth in assets under management from bullish markets and solid net new money inflows especially from Credit Suisse's Asian operations [Relation] cause [Effect] Our estimated compound revenue growth of around 2% over the next three years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Now that Otis is a stand-alone company and will be able to control its own resources, we expect margin stabilization and further expansion thanks to increased investments during its last years at United Technologies and further investments in the years to come.",
    "output": "[Cause] increased investments during its last years at United Technologies and further investments in the years to come [Relation] cause [Effect] margin stabilization and further expansion",
    "gold": "[Cause]  increased investments during its last years at United Technologies and further investments in the years to come [Relation] cause [Effect] margin stabilization and further expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This is due to our view that global corporate air travel volumes will not rebound fully to 2019 levels until 2026, versus 2024 for leisure, as some sustained use of video conferencing displaces business trips.",
    "output": "[Cause] some sustained use of video conferencing displaces business trips [Relation] cause [Effect] global corporate air travel volumes will not rebound fully to 2019 levels until 2026, versus 2024 for leisure",
    "gold": "[Cause] some sustained use of video conferencing displaces business trips [Relation] cause [Effect] global corporate air travel volumes will not rebound fully to 2019 levels until 2026, versus 2024 for leisure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The food safety industry is experiencing headwinds from greater regulation and emerging market growth, and this could entice new competitors to enter the space, putting Neogen's market position at risk.",
    "output": "[Cause] The food safety industry is experiencing headwinds from greater regulation and emerging market growth [Relation] cause [Effect] entice new competitors to enter the space, putting Neogen's market position at risk",
    "gold": "[Cause] entice new competitors to enter the space [Relation] cause [Effect] putting Neogen's market position at risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With the ability to benefit from technological efficiencies realized across the Santander Group ecosystem, Banco Santander Chile retains an important advantage over local peers, and one that has seen it operate through the cycle as the most efficient bank in the country.",
    "output": "[Cause] the ability to benefit from technological efficiencies realized across the Santander Group ecosystem [Relation] enable [Effect] Banco Santander Chile retains an important advantage over local peers, and one that has seen it operate through the cycle as the most efficient bank in the country",
    "gold": "[Cause] the ability to benefit from technological efficiencies realized across the Santander Group ecosystem [Relation] enable [Effect] Banco Santander Chile retains an important advantage over local peers, and one that has seen it operate through the cycle as the most efficient bank in the country",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With fee compression (and fee waivers for money market funds) expected to be an ongoing issue for the U.S.-based active asset managers, we envision Federated generating low- to mid-single-digit top-line growth on average annually, with our forecast calling for a 3.0% CAGR for revenue during 2021-25.",
    "output": "[Cause] fee compression (and fee waivers for money market funds) expected to be an ongoing issue for the U.S.-based active asset managers [Relation] cause [Effect] Federated generating low- to mid-single-digit top-line growth on average annually, with our forecast calling for a 3.0% CAGR for revenue during 2021-25",
    "gold": "[Cause]  fee compression (and fee waivers for money market funds) expected to be an ongoing issue for the U.S.-based active asset managers [Relation] cause [Effect]  Federated generating low- to mid-single-digit top-line growth on average annually, with our forecast calling for a 3.0% CAGR for revenue during 2021-25",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the company reported a blowout first half of fiscal 2021 as it is riding the tailwinds of 5G smartphone adoption.",
    "output": "[Cause] it is riding the tailwinds of 5G smartphone adoption [Relation] cause [Effect] the company reported a blowout first half of fiscal 2021",
    "gold": "[Cause]  it is riding the tailwinds of 5G smartphone adoption [Relation] cause [Effect] the company reported a blowout first half of fiscal 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Recent strategic pivots within the energy category (such as the acquisition of Rockstar and Mountain Dew line extensions) should also underpin growth and margins.",
    "output": "[Cause] Recent strategic pivots within the energy category [Relation] enable [Effect] underpin growth and margins",
    "gold": "[Cause] Recent strategic pivots within the energy category [Relation] enable [Effect]  underpin growth and margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Similarly, engineers loathe to swap out an analog or MCU from an existing design (again, only to save a few pennies on cost) because of the onerous re-design and re-testing costs associated with the switch.",
    "output": "[Cause] the onerous re-design and re-testing costs associated with the switch [Relation] cause [Effect] engineers loathe to swap out an analog or MCU from an existing design",
    "gold": "[Cause] the onerous re-design and re-testing costs associated with the switch [Relation] cause [Effect] engineers loathe to swap out an analog or MCU from an existing design",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The bank was previously quite exposed to commercial real estate as well as oil and gas, but in response it hired a new chief risk officer and reduced the risk in its loan portfolio by diversifying away from these types of loans.",
    "output": "[Cause] diversifying away from these types of loans [Relation] enable [Effect] reduced the risk in its loan portfolio",
    "gold": "[Cause]  diversifying away from these types of loans [Relation] enable [Effect] reduced the risk in its loan portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Such a social commerce platform could help advertisers to not only introduce brands or new products to the nearly quarter of a billion pinners, but to also target various groups with specific products for immediate purchase on the app.",
    "output": "[Cause] Such a social commerce platform [Relation] enable [Effect] advertisers to not only introduce brands or new products to the nearly quarter of a billion pinners, but to also target various groups with specific products for immediate purchase on the app",
    "gold": "[Cause] specific products for immediate purchase on the app [Relation] enable [Effect]  target various groups",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We are lowering our fair value estimate to $210 per share from $225 as we take a fresh look at the company following its first full quarter of earnings after the Livongo acquisition.",
    "output": "[Cause] we take a fresh look at the company following its first full quarter of earnings after the Livongo acquisition [Relation] cause [Effect] We are lowering our fair value estimate to $210 per share from $225",
    "gold": "[Cause] we take a fresh look at the company following its first full quarter of earnings after the Livongo acquisition [Relation] cause [Effect] We are lowering our fair value estimate to $210 per share from $225",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Vontier is led by an experienced management team that is well versed in the Danaher playbook, and we believe that it will continue to drive profitable growth by successfully implementing the Vontier Business System.",
    "output": "[Cause] successfully implementing the Vontier Business System [Relation] enable [Effect] it will continue to drive profitable growth",
    "gold": "[Cause] Vontier is led by an experienced management team that is well versed in the Danaher playbook [Relation] cause [Effect] it will continue to drive profitable growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While supply-restricted markets should be able to maintain rent increases, we expect rental growth to be slower than recent levels in most markets.",
    "output": "[Cause] supply-restricted markets should be able to maintain rent increases [Relation] cause [Effect] rental growth to be slower than recent levels in most markets",
    "gold": "[Cause] supply-restricted markets [Relation] enable [Effect] maintain rent increases",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the mobile payment segment, as WeChat's user base expands, more users will adopt WeChat Pay, which is embedded in WeChat, and in turn, more merchants will accept WeChat Pay.",
    "output": "[Cause] WeChat's user base expands [Relation] cause [Effect] more users will adopt WeChat Pay, which is embedded in WeChat, and in turn, more merchants will accept WeChat Pay",
    "gold": "[Cause] WeChat's user base expands [Relation] enable [Effect] more users will adopt WeChat Pay, which is embedded in WeChat, and in turn, more merchants will accept WeChat Pay",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Though we are concerned that rating agencies could become complacent and fall into the same bad habits that contributed to the 2008 crisis, we have no reason to believe that Moody's is on the same path to repeating these mistakes.",
    "output": "[Cause] rating agencies could become complacent [Relation] cause [Effect] fall into the same bad habits",
    "gold": "[Cause] the same bad habits [Relation] cause [Effect] the 2008 crisis",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Though we are concerned that rating agencies could become complacent and fall into the same bad habits that contributed to the 2008 crisis, we have no reason to believe that Moody's is on the same path to repeating these mistakes.",
    "output": "[Cause] rating agencies could become complacent and fall into the same bad habits [Relation] cause [Effect] the 2008 crisis",
    "gold": "[Cause] rating agencies could become complacent [Relation] cause [Effect] fall into the same bad habits",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our top-line growth estimates land at top end of management's outlook for $4.0 billion to $4.5 billion in revenue by 2025, but we still think there could be upside, especially as Dexcom penetrates the larger Type 2 market.",
    "output": "[Cause] Dexcom penetrates the larger Type 2 market [Relation] cause [Effect] there could be upside",
    "gold": "[Cause]  Dexcom penetrates the larger Type 2 market [Relation] cause [Effect] there could be upside",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To reduce the financial burden of its distributors and better understand the trend in market demand for its machinery so that Komatsu can adapt to changes in a more timely manner, it launched a \"\"\"\"zero inventory campaign,\"\"\"\" which is ongoing.",
    "output": "[Cause] reduce the financial burden of its distributors and better understand the trend in market demand for its machinery [Relation] enable [Effect] Komatsu can adapt to changes in a more timely manner",
    "gold": "[Cause] it launched a \"\"\"\"zero inventory campaign,\"\"\"\" which is ongoing [Relation] enable [Effect] reduce the financial burden of its distributors and better understand the trend in market demand for its machinery",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect race promotion revenue to increase by 5% annually as the push back against the fee growth from promoters for established races will be more than offset by the growth in flyaway races and addition of more races.",
    "output": "[Cause] the push back against the fee growth from promoters for established races will be more than offset by the growth in flyaway races and addition of more races [Relation] cause [Effect] race promotion revenue to increase by 5% annually",
    "gold": "[Cause] the push back against the fee growth from promoters for established races will be more than offset by the growth in flyaway races and addition of more races [Relation] cause [Effect] race promotion revenue to increase by 5% annually",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, we still expect some uncertainty as the firm is still a major supplier into the extremely competitive smartphone market, Synaptics is buffeted by the design ambitions of its OEM customers and pricing pressure from competitors.",
    "output": "[Cause] the firm is still a major supplier into the extremely competitive smartphone market [Relation] cause [Effect] some uncertainty",
    "gold": "[Cause] the design ambitions of its OEM customers and pricing pressure from competitors [Relation] enable [Effect] Synaptics is buffeted",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, we still expect some uncertainty as the firm is still a major supplier into the extremely competitive smartphone market, Synaptics is buffeted by the design ambitions of its OEM customers and pricing pressure from competitors.",
    "output": "[Cause] the design ambitions of its OEM customers and pricing pressure from competitors [Relation] cause [Effect] Synaptics is buffeted",
    "gold": "[Cause] the firm is still a major supplier into the extremely competitive smartphone market [Relation] cause [Effect] some uncertainty",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As technology improves, more consumers will be able to download content quickly via the web and play it on their televisions or alternative devices.",
    "output": "[Cause] technology improves [Relation] enable [Effect] more consumers will be able to download content quickly via the web and play it on their televisions or alternative devices",
    "gold": "[Cause] technology improves [Relation] cause [Effect] more consumers will be able to download content quickly via the web and play it on their televisions or alternative devices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the brand has suffered from underinvestment the past few years, we think Hormel will funnel additional resources to enhance its product innovation and marketing.",
    "output": "[Cause] Hormel will funnel additional resources [Relation] enable [Effect] enhance its product innovation and marketing",
    "gold": "[Cause] Hormel will funnel additional resources [Relation] enable [Effect] enhance its product innovation and marketing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2020, the firm invested in Kylie and KKW beauty brands, founded by celebrities Kylie Jenner and Kim Kardashian West, but we think it will be difficult to build sustainable brand equities as celebrity popularity tends to ebb and flow.",
    "output": "[Cause] celebrity popularity tends to ebb and flow [Relation] cause [Effect] it will be difficult to build sustainable brand equities",
    "gold": "[Cause] celebrity popularity tends to ebb and flow [Relation] cause [Effect]  it will be difficult to build sustainable brand equities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our production forecast for 2020 is 121 mboe/d, which translates to a year-over-year decline due to less drilling and recent asset sales.",
    "output": "[Cause] less drilling and recent asset sales [Relation] cause [Effect] a year-over-year decline",
    "gold": "[Cause]  less drilling and recent asset sales [Relation] cause [Effect] a year-over-year decline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Edison's infrastructure investments to support these policies result in limited pushback from regulators, helping to strengthen earned returns on capital.",
    "output": "[Cause] Edison's infrastructure investments to support these policies [Relation] cause [Effect] limited pushback from regulators",
    "gold": "[Cause] Edison's infrastructure investments to support these policies [Relation] cause [Effect] limited pushback from regulators",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of this dynamic, along with traces of intangible assets stemming from the stringent regulatory oversight governing the transportation process, Balchem almost always serves as the sole onsite provider for its customers.",
    "output": "[Cause] this dynamic, along with traces of intangible assets stemming from the stringent regulatory oversight governing the transportation process [Relation] cause [Effect] Balchem almost always serves as the sole onsite provider for its customers",
    "gold": "[Cause] this dynamic, along with traces of intangible assets stemming from the stringent regulatory oversight governing the transportation process [Relation] cause [Effect] Balchem almost always serves as the sole onsite provider for its customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The capacity assigned to resolve the Trent 1000 problems may have spill-over effects and impact the successful delivery and service obligations of other engine programs.",
    "output": "[Cause] The capacity assigned to resolve the Trent 1000 problems [Relation] cause [Effect] spill-over effects and impact the successful delivery and service obligations of other engine programs",
    "gold": "[Cause] The capacity assigned to resolve the Trent 1000 problems [Relation] enable [Effect]  spill-over effects and impact the successful delivery and service obligations of other engine programs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, we believe the management team will look to reduce the company's cost structure, as some markets have matured, providing an opportunity to rethink its footprint and create a leaner organization.",
    "output": "[Cause] some markets have matured [Relation] cause [Effect] the management team will look to reduce the company's cost structure",
    "gold": "[Cause] the management team will look to reduce the company's cost structure [Relation] enable [Effect]  providing an opportunity to rethink its footprint and create a leaner organization",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, we believe the management team will look to reduce the company's cost structure, as some markets have matured, providing an opportunity to rethink its footprint and create a leaner organization.",
    "output": "[Cause] reduce the company's cost structure [Relation] enable [Effect] providing an opportunity to rethink its footprint and create a leaner organization",
    "gold": "[Cause] as some markets have matured [Relation] enable [Effect] the management team will look to reduce the company's cost structure",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Its disciplined acquisition strategy has kept returns above its cost of capital and strengthened its core competencies, making it the closest pure play in the late-stage CRO industry.",
    "output": "[Cause] Its disciplined acquisition strategy [Relation] enable [Effect] kept returns above its cost of capital and strengthened its core competencies",
    "gold": "[Cause] Its disciplined acquisition strategy [Relation] cause [Effect] kept returns above its cost of capital and strengthened its core competencies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its disciplined acquisition strategy has kept returns above its cost of capital and strengthened its core competencies, making it the closest pure play in the late-stage CRO industry.",
    "output": "[Cause] Its disciplined acquisition strategy [Relation] enable [Effect] it the closest pure play in the late-stage CRO industry",
    "gold": "[Cause] kept returns above its cost of capital and strengthened its core competencies [Relation] cause [Effect] making it the closest pure play in the late-stage CRO industry",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As Ingersoll-Rand's products perform a critical function and are closely integrated within a customer's production process, customers tend to replace components like-for-like. Therefore, the firm's large installed base of equipment generates a relatively steady stream of recurring service and aftermarket revenue, which we estimate accounts for roughly 40% of the combined company's sales following the merger.",
    "output": "[Cause] Ingersoll-Rand's products perform a critical function and are closely integrated within a customer's production process, customers tend to replace components like-for-like [Relation] cause [Effect] the firm's large installed base of equipment generates a relatively steady stream of recurring service and aftermarket revenue, which we estimate accounts for roughly 40% of the combined company's sales following the merger",
    "gold": "[Cause] Ingersoll-Rand's products perform a critical function and are closely integrated within a customer's production process, customers tend to replace components like-for-like [Relation] cause [Effect] the firm's large installed base of equipment generates a relatively steady stream of recurring service and aftermarket revenue, which we estimate accounts for roughly 40% of the combined company's sales following the merger",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With Pioneer already a major Permian landholder, it had a head start when the industry finally started recognizing the basin's full horizontal drilling potential.",
    "output": "[Cause] Pioneer already a major Permian landholder [Relation] cause [Effect] it had a head start when the industry finally started recognizing the basin's full horizontal drilling potential",
    "gold": "[Cause] Pioneer already a major Permian landholder [Relation] enable [Effect] it had a head start when the industry finally started recognizing the basin's full horizontal drilling potential",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The consolidation of Mead Johnson should further enhance this profile, as Mead scored top of the pile on the pricing power metrics within the packaged-food category.",
    "output": "[Cause] Mead scored top of the pile on the pricing power metrics within the packaged-food category [Relation] cause [Effect] The consolidation of Mead Johnson should further enhance this profile",
    "gold": "[Cause] Mead scored top of the pile on the pricing power metrics within the packaged-food category [Relation] cause [Effect] The consolidation of Mead Johnson should further enhance this profile",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cyclical downturns in demand compress profitability because excess capacity normally drives providers to slash rates in an attempt to salvage asset utilization.",
    "output": "[Cause] excess capacity normally drives providers to slash rates in an attempt to salvage asset utilization [Relation] cause [Effect] Cyclical downturns in demand compress profitability",
    "gold": "[Cause] excess capacity [Relation] cause [Effect] drives providers to slash rates",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Dexcom just turned the corner and crossed into the black in 2019, after years of fast growth and subscale operations.",
    "output": "[Cause] years of fast growth and subscale operations [Relation] cause [Effect] Dexcom just turned the corner and crossed into the black in 2019",
    "gold": "[Cause] years of fast growth and subscale operations [Relation] cause [Effect] Dexcom just turned the corner and crossed into the black in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Last year was a terrible one for the company (sales down 28% and an adjusted EPS loss of $1.97) as it suffered virus-related disruptions in all regions.",
    "output": "[Cause] it suffered virus-related disruptions in all regions [Relation] cause [Effect] Last year was a terrible one for the company",
    "gold": "[Cause] it suffered virus-related disruptions in all regions [Relation] cause [Effect] Last year was a terrible one for the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We opine that IT teams have morphed their networks alongside F5's product releases to stay ahead of the latest traffic technology for applications, data centers, and multi-cloud environments.",
    "output": "[Cause] IT teams have morphed their networks alongside F5's product releases [Relation] enable [Effect] stay ahead of the latest traffic technology for applications, data centers, and multi-cloud environments",
    "gold": "[Cause] IT teams have morphed their networks alongside F5's product releases [Relation] enable [Effect] stay ahead of the latest traffic technology for applications, data centers, and multi-cloud environments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Five Below's buyer base is also not conducive to long-term loyalty as the store's assortment is targeted; we expect the chain will have to invest to replenish its shopper set as teenaged customers age.",
    "output": "[Cause] the store's assortment is targeted [Relation] cause [Effect] Five Below's buyer base is also not conducive to long-term loyalty",
    "gold": "[Cause] the store's assortment is targeted [Relation] cause [Effect] Five Below's buyer base is also not conducive to long-term loyalty",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Five Below's buyer base is also not conducive to long-term loyalty as the store's assortment is targeted; we expect the chain will have to invest to replenish its shopper set as teenaged customers age.",
    "output": "[Cause] the store's assortment is targeted [Relation] cause [Effect] Five Below's buyer base is also not conducive to long-term loyalty",
    "gold": "[Cause] teenaged customers age [Relation] cause [Effect] the chain will have to invest to replenish its shopper set",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As most watch manufacturing is carried out in Switzerland and the majority of sales occur abroad, the Swiss watch industry has been suffering from a strengthening Swiss franc for years.",
    "output": "[Cause] most watch manufacturing is carried out in Switzerland and the majority of sales occur abroad [Relation] cause [Effect] the Swiss watch industry has been suffering from a strengthening Swiss franc for years",
    "gold": "[Cause] most watch manufacturing is carried out in Switzerland and the majority of sales occur abroad [Relation] cause [Effect] the Swiss watch industry has been suffering from a strengthening Swiss franc for years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Arista can leverage existing R&D work to lower new design costs, and expect these expenses to be in the high teens range, as a percentage of revenue.",
    "output": "[Cause] Arista can leverage existing R&D work to lower new design costs [Relation] cause [Effect] these expenses to be in the high teens range, as a percentage of revenue",
    "gold": "[Cause]  Arista can leverage existing R&D work to lower new design costs [Relation] enable [Effect] these expenses to be in the high teens range, as a percentage of revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast a five-year revenue CAGR growth of 4%, as we expect that all-flash arrays, cloud storage, and hyperconverged infrastructure product adoption trends will spur short-term growth, but for those catalysts to slow as the technologies become commonplace.",
    "output": "[Cause] all-flash arrays, cloud storage, and hyperconverged infrastructure product adoption trends will spur short-term growth [Relation] cause [Effect] a five-year revenue CAGR growth of 4%",
    "gold": "[Cause] all-flash arrays, cloud storage, and hyperconverged infrastructure product adoption trends will spur short-term growth [Relation] cause [Effect] a five-year revenue CAGR growth of 4%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast a five-year revenue CAGR growth of 4%, as we expect that all-flash arrays, cloud storage, and hyperconverged infrastructure product adoption trends will spur short-term growth, but for those catalysts to slow as the technologies become commonplace.",
    "output": "[Cause] the technologies become commonplace [Relation] cause [Effect] those catalysts to slow",
    "gold": "[Cause] the technologies become commonplace [Relation] cause [Effect] those catalysts to slow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Millicom's focus on smaller countries and its long history in many of these markets has produced dominant wireless market share, providing a solid competitive position and a platform to expand its networks to capitalize on rising Internet adoption across Latin America.",
    "output": "[Cause] Millicom's focus on smaller countries and its long history in many of these markets [Relation] enable [Effect] dominant wireless market share",
    "gold": "[Cause] Millicom's focus on smaller countries and its long history in many of these markets has produced dominant wireless market share [Relation] enable [Effect] a solid competitive position and a platform to expand its networks to capitalize on rising Internet adoption across Latin America",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Millicom's focus on smaller countries and its long history in many of these markets has produced dominant wireless market share, providing a solid competitive position and a platform to expand its networks to capitalize on rising Internet adoption across Latin America.",
    "output": "[Cause] Millicom's focus on smaller countries and its long history in many of these markets has produced dominant wireless market share [Relation] enable [Effect] a solid competitive position and a platform to expand its networks to capitalize on rising Internet adoption across Latin America",
    "gold": "[Cause] a solid competitive position and a platform to expand its networks to capitalize on rising Internet adoption across Latin America [Relation] enable [Effect] capitalize on rising Internet adoption across Latin America",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, IBA lacks the deep pockets of Varian, and protons require significant ongoing investment in both the technology and clinical data.",
    "output": "[Cause] IBA lacks the deep pockets of Varian [Relation] cause [Effect] protons require significant ongoing investment in both the technology and clinical data",
    "gold": "[Cause]  IBA lacks the deep pockets of Varian [Relation] prevent [Effect]  protons require significant ongoing investment in both the technology and clinical data",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "RevPAR grew around 5% between 2011 and 2015 through a combination of occupancy and rate growth, but as occupancy leveled off in 2016, average rate growth slowed for the total U.S.",
    "output": "[Cause] occupancy leveled off in 2016 [Relation] cause [Effect] average rate growth slowed for the total U.S",
    "gold": "[Cause] a combination of occupancy and rate growth [Relation] cause [Effect] RevPAR grew around 5%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "There are indirect costs along those same lines, mainly lost productivity as customers move up a learning curve on the new system and the distraction of users involved the function where the change is occurring.",
    "output": "[Cause] customers move up a learning curve on the new system and the distraction of users involved the function where the change is occurring [Relation] cause [Effect] There are indirect costs along those same lines",
    "gold": "[Cause] customers move up a learning curve on the new system and the distraction of users involved the function where the change is occurring [Relation] cause [Effect] There are indirect costs along those same lines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect this to increase as the cloud transition wraps up and the firm is able to manage certain network carrier costs, allowing Nice to benefit from scale-based leverage.",
    "output": "[Cause] the cloud transition wraps up and the firm is able to manage certain network carrier costs [Relation] enable [Effect] Nice to benefit from scale-based leverage",
    "gold": "[Cause] the cloud transition wraps up and the firm is able to manage certain network carrier costs [Relation] enable [Effect] Nice to benefit from scale-based leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Vast global scale, along with its monopolylike positions in Latin America and Africa give AB InBev significant fixed cost leverage and procurement pricing power.",
    "output": "[Cause] Vast global scale, along with its monopolylike positions in Latin America and Africa [Relation] enable [Effect] AB InBev significant fixed cost leverage and procurement pricing power",
    "gold": "[Cause] Vast global scale, along with its monopolylike positions in Latin America and Africa [Relation] enable [Effect] AB InBev significant fixed cost leverage and procurement pricing power",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The late 1990s saw the entry of direct fibre cement competition, with patent protection for Hardie's first-generation formulation having ended; thus, the patent portfolio ceased to be the driving source of competitive advantage.",
    "output": "[Cause] The late 1990s saw the entry of direct fibre cement competition [Relation] cause [Effect] patent protection for Hardie's first-generation formulation having ended",
    "gold": "[Cause] patent protection for Hardie's first-generation formulation having ended [Relation] cause [Effect] the entry of direct fibre cement competition",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The late 1990s saw the entry of direct fibre cement competition, with patent protection for Hardie's first-generation formulation having ended; thus, the patent portfolio ceased to be the driving source of competitive advantage.",
    "output": "[Cause] patent protection for Hardie's first-generation formulation having ended [Relation] cause [Effect] the patent portfolio ceased to be the driving source of competitive advantage",
    "gold": "[Cause] the entry of direct fibre cement competition [Relation] cause [Effect] the patent portfolio ceased to be the driving source of competitive advantage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We continue to expect depressed surgical valve replacement procedures in the first half of 2021 as hospitals stretch to accommodate pandemic patients, but expect severely afflicted heart patients will be among the earlier patients to return for treatment as the pandemic recedes.",
    "output": "[Cause] hospitals stretch to accommodate pandemic patients [Relation] cause [Effect] expect severely afflicted heart patients will be among the earlier patients to return for treatment",
    "gold": "[Cause] the pandemic recedes [Relation] cause [Effect] expect severely afflicted heart patients will be among the earlier patients to return for treatment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, the growing popularity of e-commerce has amplified price transparency and opened the door for capable Internet-based competition, most notably Amazon Business.",
    "output": "[Cause] the growing popularity of e-commerce [Relation] enable [Effect] amplified price transparency and opened the door for capable Internet-based competition",
    "gold": "[Cause] the growing popularity of e-commerce [Relation] cause [Effect]  amplified price transparency and opened the door for capable Internet-based competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm has consistently been able to raise prices on its new products, which we view as further evidence of its ability to leverage its intangible assets and switching costs.",
    "output": "[Cause] The firm has consistently been able to raise prices on its new products [Relation] enable [Effect] further evidence of its ability to leverage its intangible assets and switching costs",
    "gold": "[Cause] The firm has consistently been able to raise prices on its new products [Relation] cause [Effect] further evidence of its ability to leverage its intangible assets and switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Google exited the local market in 2010 because of censorship, but there is talk that it will re-enter the search market in China.",
    "output": "[Cause] censorship [Relation] cause [Effect] Google exited the local market in 2010",
    "gold": "[Cause] censorship [Relation] cause [Effect] Google exited the local market in 2010",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because their branch networks are spread out through all of Canada, the Canadian banks arguably have some of the most powerful distribution networks within Canada.",
    "output": "[Cause] their branch networks are spread out through all of Canada [Relation] cause [Effect] the Canadian banks arguably have some of the most powerful distribution networks within Canada",
    "gold": "[Cause]  their branch networks are spread out through all of Canada [Relation] cause [Effect]  the Canadian banks arguably have some of the most powerful distribution networks within Canada",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In categories like carbonated soft drinks and juices, slight modifications to ingredients can result in distinct tastes, and thus value propositions, to the consumer.",
    "output": "[Cause] slight modifications to ingredients [Relation] cause [Effect] distinct tastes",
    "gold": "[Cause] slight modifications to ingredients [Relation] cause [Effect] distinct tastes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In categories like carbonated soft drinks and juices, slight modifications to ingredients can result in distinct tastes, and thus value propositions, to the consumer.",
    "output": "[Cause] slight modifications to ingredients [Relation] cause [Effect] distinct tastes",
    "gold": "[Cause] distinct tastes [Relation] cause [Effect] value propositions, to the consumer",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Offsetting the Lantus weakness, Sanofi's vaccines and consumer products should continue to post growth as these products are less susceptible to patent losses.",
    "output": "[Cause] these products are less susceptible to patent losses [Relation] cause [Effect] Sanofi's vaccines and consumer products should continue to post growth",
    "gold": "[Cause] these products are less susceptible to patent losses [Relation] cause [Effect]  Sanofi's vaccines and consumer products should continue to post growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the collaborative nature of the M&A process, we believe Intralinks has a slight network effect, as it makes sense for a corporation to use a platform that banks are familiar with and vice versa.",
    "output": "[Cause] it makes sense for a corporation to use a platform that banks are familiar with and vice versa [Relation] cause [Effect] Intralinks has a slight network effect",
    "gold": "[Cause]  the collaborative nature of the M&A process [Relation] enable [Effect] we believe Intralinks has a slight network effect",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe Kellogg also maintains a cost edge resulting from the economies of scale in production and distribution across its global network, which has afforded it the ability to invest significant resources behind R&D and advertising.",
    "output": "[Cause] the economies of scale in production and distribution across its global network [Relation] cause [Effect] Kellogg also maintains a cost edge",
    "gold": "[Cause] the economies of scale in production and distribution across its global network [Relation] enable [Effect] afforded it the ability to invest significant resources behind R&D and advertising",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe Kellogg also maintains a cost edge resulting from the economies of scale in production and distribution across its global network, which has afforded it the ability to invest significant resources behind R&D and advertising.",
    "output": "[Cause] afforded it the ability to invest significant resources behind R&D and advertising [Relation] enable [Effect] Kellogg also maintains a cost edge",
    "gold": "[Cause] afforded it the ability to invest significant resources behind R&D and advertising [Relation] enable [Effect] Kellogg also maintains a cost edge",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As customers produce more traffic and grow networking touch points, dedicated security solutions that have higher performance and associated costs are typically required.",
    "output": "[Cause] customers produce more traffic and grow networking touch points [Relation] cause [Effect] dedicated security solutions that have higher performance and associated costs are typically required",
    "gold": "[Cause] customers produce more traffic and grow networking touch points [Relation] cause [Effect] dedicated security solutions that have higher performance and associated costs are typically required",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although a restructuring plan is in place for a turnaround, we remain concerned about future revenue growth and gross margin compression, both of which may prevent Groupon from yielding excess returns on capital in the long run.",
    "output": "[Cause] future revenue growth and gross margin compression [Relation] prevent [Effect] Groupon from yielding excess returns on capital in the long run",
    "gold": "[Cause] future revenue growth and gross margin compression [Relation] prevent [Effect] Groupon from yielding excess returns on capital in the long run",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As for Commercial and Residential, we believe new technologies will promote new product development that meet demands for energy efficiency and global warming concerns over refrigerants in Climate Technologies.",
    "output": "[Cause] new technologies [Relation] enable [Effect] promote new product development",
    "gold": "[Cause] As for Commercial and Residential, we believe new technologies will promote new product development [Relation] cause [Effect] meet demands for energy efficiency and global warming concerns over refrigerants in Climate Technologies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, its resorts operate at all hours and days of the year, using energy and supplies, which if not properly managed could disinterest some visitation.",
    "output": "[Cause] not properly managed [Relation] cause [Effect] disinterest some visitation",
    "gold": "[Cause] not properly managed [Relation] cause [Effect]  disinterest some visitation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to Citi's higher I-banking and trading exposures and higher complexity, we normally assign the bank a high uncertainty rating.",
    "output": "[Cause] Citi's higher I-banking and trading exposures and higher complexity [Relation] cause [Effect] we normally assign the bank a high uncertainty rating",
    "gold": "[Cause] Citi's higher I-banking and trading exposures and higher complexity [Relation] enable [Effect] we normally assign the bank a high uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect average incrementals between 32% and 33% over the medium term as sales recover and believe the firm can eventually hit 20% segment operating margins and free cash flow margins of 14%.",
    "output": "[Cause] sales recover [Relation] cause [Effect] average incrementals between 32% and 33% over the medium term",
    "gold": "[Cause]  average incrementals between 32% and 33% over the medium term [Relation] enable [Effect]  the firm can eventually hit 20% segment operating margins and free cash flow margins of 14%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Only the top four flavor and fragrance companies have truly global operations, which means competition for multinational customers is largely limited to them alone.",
    "output": "[Cause] Only the top four flavor and fragrance companies have truly global operations [Relation] cause [Effect] competition for multinational customers is largely limited to them alone",
    "gold": "[Cause] Only the top four flavor and fragrance companies have truly global operations [Relation] cause [Effect] competition for multinational customers is largely limited to them alone",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Late-stage trials are complex and provide room for differentiation, and global CROs leverage their expertise to shorten the clinical trial time frame and ensure accuracy and precision.",
    "output": "[Cause] Late-stage trials are complex and provide room for differentiation [Relation] cause [Effect] global CROs leverage their expertise to shorten the clinical trial time frame and ensure accuracy and precision",
    "gold": "[Cause]  global CROs leverage their expertise [Relation] enable [Effect] shorten the clinical trial time frame and ensure accuracy and precision",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We assign PTC with a medium uncertainty rating given the company's dependence on the industrials sector, which could subject PTC to risk in an economic downturn.",
    "output": "[Cause] the company's dependence on the industrials sector [Relation] cause [Effect] We assign PTC with a medium uncertainty rating",
    "gold": "[Cause] We assign PTC with a medium uncertainty rating given the company's dependence on the industrials sector [Relation] enable [Effect]  could subject PTC to risk in an economic downturn",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, as conventional players move more aggressively into the natural and organic space, they are also building their expertise, making Hain less unique in that regard.",
    "output": "[Cause] conventional players move more aggressively into the natural and organic space, they are also building their expertise [Relation] cause [Effect] Hain less unique in that regard",
    "gold": "[Cause] conventional players move more aggressively into the natural and organic space, they are also building their expertise [Relation] cause [Effect] Hain less unique in that regard",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the company's shift to more stable data and technology revenue, we are exploring decreasing our cost of equity to the company to 7.5%, which could increase our fair value estimate by over 20%.",
    "output": "[Cause] the company's shift to more stable data and technology revenue [Relation] cause [Effect] we are exploring decreasing our cost of equity to the company to 7.5%, which could increase our fair value estimate by over 20%",
    "gold": "[Cause] decreasing our cost of equity to the company to 7.5% [Relation] enable [Effect] increase our fair value estimate by over 20%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A change in FCC leadership that is less friendly to local broadcasters could drastically affect Nexstar's ability to acquire further stations and dominate local markets and may put a cap on the price of retransmission fees.",
    "output": "[Cause] A change in FCC leadership that is less friendly to local broadcasters [Relation] cause [Effect] affect Nexstar's ability to acquire further stations and dominate local markets and may put a cap on the price of retransmission fees",
    "gold": "[Cause] A change in FCC leadership that is less friendly to local broadcasters [Relation] cause [Effect]  affect Nexstar's ability to acquire further stations and dominate local markets and may put a cap on the price of retransmission fees",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "EBITDA margin improvement will be driven by operational digitalization and cost reductions (shared service centers and labor costs reductions, among others).",
    "output": "[Cause] operational digitalization and cost reductions [Relation] enable [Effect] EBITDA margin improvement",
    "gold": "[Cause] operational digitalization and cost reductions [Relation] cause [Effect] EBITDA margin improvement",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Maintaining share and retaining customers may be increasingly challenging with the evolution of reimbursement structures and potential changes to the current regulatory environment.",
    "output": "[Cause] the evolution of reimbursement structures and potential changes to the current regulatory environment [Relation] cause [Effect] Maintaining share and retaining customers may be increasingly challenging",
    "gold": "[Cause] the evolution of reimbursement structures and potential changes to the current regulatory environment [Relation] enable [Effect] Maintaining share and retaining customers may be increasingly challenging",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do expect management to continue its patient and prudent capital stewardship, but high supply and lower near-term demand is limiting the ability to realize internal and external growth.",
    "output": "[Cause] high supply and lower near-term demand [Relation] prevent [Effect] the ability to realize internal and external growth",
    "gold": "[Cause] high supply and lower near-term demand [Relation] prevent [Effect] the ability to realize internal and external growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In fact, in 2018, Coty terminated all celebrity fragrance brands (Lady Gaga, Celine Dion, Tim McGraw, and so on), as it sought to focus resources on the highest potential brands.",
    "output": "[Cause] it sought to focus resources on the highest potential brands [Relation] cause [Effect] Coty terminated all celebrity fragrance brands",
    "gold": "[Cause] it sought to focus resources on the highest potential brands [Relation] cause [Effect] Coty terminated all celebrity fragrance brands",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the firm's largest segment, Discovery and Safety Assessment, to make up about 62% of total revenue in 2030, driven by a steady increase in outsourcing penetration throughout our explicit forecast.",
    "output": "[Cause] a steady increase in outsourcing penetration throughout our explicit forecast [Relation] cause [Effect] the firm's largest segment, Discovery and Safety Assessment, to make up about 62% of total revenue in 2030",
    "gold": "[Cause] a steady increase in outsourcing penetration throughout our explicit forecast [Relation] cause [Effect] the firm's largest segment, Discovery and Safety Assessment, to make up about 62% of total revenue in 2030",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To bolster its growth rate, SK Telecom has made several investments in other countries and industries over the years.",
    "output": "[Cause] SK Telecom has made several investments in other countries and industries over the years [Relation] enable [Effect] bolster its growth rate",
    "gold": "[Cause]  SK Telecom has made several investments in other countries and industries over the years [Relation] enable [Effect] bolster its growth rate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Once vehicle owners know a dealer, we think they are likely to keep going back to the dealer for service.",
    "output": "[Cause] vehicle owners know a dealer [Relation] cause [Effect] they are likely to keep going back to the dealer for service",
    "gold": "[Cause] vehicle owners know a dealer [Relation] cause [Effect] they are likely to keep going back to the dealer for service",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite these competitive pressures, HD Supply's superior scale has allowed the firm to earn excess returns, and we expect it to maintain its competitive advantages over at least the next 10 years.",
    "output": "[Cause] HD Supply's superior scale [Relation] enable [Effect] the firm to earn excess returns",
    "gold": "[Cause] HD Supply's superior scale [Relation] enable [Effect] the firm to earn excess returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With rising COVID-19 case counts, we expect low- to mid-teens identical sales growth (excluding fuel) in the fourth quarter as Americans turn homeward should continue until vaccines become widely available in the middle of calendar 2021.",
    "output": "[Cause] rising COVID-19 case counts [Relation] cause [Effect] low- to mid-teens identical sales growth (excluding fuel) in the fourth quarter",
    "gold": "[Cause] rising COVID-19 case counts [Relation] enable [Effect] low- to mid-teens identical sales growth (excluding fuel) in the fourth quarter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With rising COVID-19 case counts, we expect low- to mid-teens identical sales growth (excluding fuel) in the fourth quarter as Americans turn homeward should continue until vaccines become widely available in the middle of calendar 2021.",
    "output": "[Cause] Americans turn homeward should continue until vaccines become widely available in the middle of calendar 2021 [Relation] cause [Effect] low- to mid-teens identical sales growth (excluding fuel) in the fourth quarter",
    "gold": "[Cause] Americans turn homeward should continue until vaccines become widely available in the middle of calendar 2021 [Relation] enable [Effect] low- to mid-teens identical sales growth (excluding fuel) in the fourth quarter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's approved cystic fibrosis drugs are Kalydeco, Orkambi, Symdeko, and Trikafta, which will make Vertex eligible to treat about 90% of the CF population, assuming international and pediatric approvals.",
    "output": "[Cause] The company's approved cystic fibrosis drugs are Kalydeco, Orkambi, Symdeko, and Trikafta [Relation] enable [Effect] make Vertex eligible to treat about 90% of the CF population, assuming international and pediatric approvals",
    "gold": "[Cause] international and pediatric approvals [Relation] enable [Effect] make Vertex eligible to treat about 90% of the CF population",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Customer service is crucial to bottom line returns for firms, as dissatisfied customers taking away business is detrimental to growth.",
    "output": "[Cause] dissatisfied customers taking away business is detrimental to growth [Relation] cause [Effect] Customer service is crucial to bottom line returns for firms",
    "gold": "[Cause] dissatisfied customers taking away business is detrimental to growth [Relation] cause [Effect] Customer service is crucial to bottom line returns for firms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The most immediate near-term risk is the degree to which hospitalizations of COVID-19 patients crowds out elective procedures, such as hip and knee replacements.",
    "output": "[Cause] hospitalizations of COVID-19 patients crowds out elective procedures [Relation] cause [Effect] The most immediate near-term risk",
    "gold": "[Cause]  the degree to which hospitalizations of COVID-19 patients [Relation] prevent [Effect]  elective procedures",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We assign KBR a high uncertainty rating, since E&C firms have to contend with high cyclicality and face the risk of large losses on individual projects, often due to factors beyond their control, such as labor shortages, subcontractor performance, inclement weather, and natural events.",
    "output": "[Cause] factors beyond their control [Relation] cause [Effect] E&C firms have to contend with high cyclicality and face the risk of large losses on individual projects",
    "gold": "[Cause] E&C firms have to contend with high cyclicality and face the risk of large losses on individual projects [Relation] cause [Effect] We assign KBR a high uncertainty rating",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Formula One Group can be described as a combination of the trademark holder and the business development and promotion arms of the Formula One World Championship. As a result, the firm's business model is very capital-light with only $15 million in capital expenditures in 2018 and $90 million in net PP&E at the end of 2018 versus annual revenue of $1.8 billion.",
    "output": "[Cause] Formula One Group can be described as a combination of the trademark holder and the business development and promotion arms of the Formula One World Championship [Relation] cause [Effect] the firm's business model is very capital-light with only $15 million in capital expenditures in 2018 and $90 million in net PP&E at the end of 2018 versus annual revenue of $1.8 billion",
    "gold": "[Cause] Formula One Group can be described as a combination of the trademark holder and the business development and promotion arms of the Formula One World Championship [Relation] cause [Effect] the firm's business model is very capital-light with only $15 million in capital expenditures in 2018 and $90 million in net PP&E at the end of 2018 versus annual revenue of $1.8 billion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Broad-based microcontroller sales also appear to be a nice growth avenue, which should more than compensate for the businesses ST recently exited.",
    "output": "[Cause] Broad-based microcontroller sales also appear to be a nice growth avenue [Relation] enable [Effect] more than compensate for the businesses ST recently exited",
    "gold": "[Cause] Broad-based microcontroller sales also appear to be a nice growth avenue [Relation] cause [Effect] more than compensate for the businesses ST recently exited",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Following the firm's release of fourth-quarter financial results, we are increasing our fair value estimate to $50 from $43.50 per share as we account for time value of money and a bull equity market boosting the firm's asset-management business.",
    "output": "[Cause] we account for time value of money and a bull equity market boosting the firm's asset-management business [Relation] cause [Effect] increasing our fair value estimate to $50 from $43.50 per share",
    "gold": "[Cause] we account for time value of money and a bull equity market boosting the firm's asset-management business [Relation] cause [Effect] increasing our fair value estimate to $50 from $43.50 per share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "BCE has been investing heavily to upgrade its wireline network by extending fiber to the home, or FTTH, which we think positions the firm to take share over its footprint.",
    "output": "[Cause] BCE has been investing heavily to upgrade its wireline network by extending fiber to the home, or FTTH [Relation] enable [Effect] the firm to take share over its footprint",
    "gold": "[Cause] BCE has been investing heavily to upgrade its wireline network by extending fiber to the home, or FTTH [Relation] enable [Effect] the firm to take share over its footprint",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Many customers bring their vehicle to the dealer for servicing because the vehicle is either under warranty or because the dealer is close to home and has the factory parts and expertise to service the vehicle.",
    "output": "[Cause] the vehicle is either under warranty [Relation] cause [Effect] Many customers bring their vehicle to the dealer for servicing",
    "gold": "[Cause] the vehicle is either under warranty [Relation] cause [Effect] Many customers bring their vehicle to the dealer for servicing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Many customers bring their vehicle to the dealer for servicing because the vehicle is either under warranty or because the dealer is close to home and has the factory parts and expertise to service the vehicle.",
    "output": "[Cause] the dealer is close to home and has the factory parts and expertise to service the vehicle [Relation] cause [Effect] Many customers bring their vehicle to the dealer for servicing",
    "gold": "[Cause]  the dealer is close to home and has the factory parts and expertise to service the vehicle [Relation] cause [Effect] Many customers bring their vehicle to the dealer for servicing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The merger with O2 has created the second integrated wireless and fixed-line player in the U.K., which should benefit Virgin's strategic position, but we expect the U.K.",
    "output": "[Cause] The merger with O2 has created the second integrated wireless and fixed-line player in the U.K. [Relation] enable [Effect] benefit Virgin's strategic position",
    "gold": "[Cause] The merger with O2 has created the second integrated wireless and fixed-line player in the U.K. [Relation] enable [Effect]  benefit Virgin's strategic position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our uncertainty rating for Alphabet is high, the result of high dependency on continuing growth in the online advertising space, along with questions as to whether the company's moonshot investments will bear fruit.",
    "output": "[Cause] questions as to whether the company's moonshot investments will bear fruit [Relation] cause [Effect] Our uncertainty rating for Alphabet is high",
    "gold": "[Cause] the result of high dependency on continuing growth in the online advertising space [Relation] cause [Effect] questions as to whether the company's moonshot investments will bear fruit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Following first-quarter results, we are raising our fair value estimate for CSX to $82 from $79 on the time value of money and as we give slightly more credit for margin expansion longer term.",
    "output": "[Cause] we give slightly more credit for margin expansion longer term [Relation] cause [Effect] we are raising our fair value estimate for CSX to $82 from $79 on the time value of money",
    "gold": "[Cause] first-quarter results [Relation] enable [Effect] raising our fair value estimate for CSX to $82 from $79 on the time value of money and as we give slightly more credit for margin expansion longer term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Landstar's asset-light business model helps shield profitability; however, the firm isn't immune to freight downturns--when economic conditions deteriorate, gross revenue trends will reflect declining load volume and soft pricing, especially for spot freight.",
    "output": "[Cause] Landstar's asset-light business model [Relation] enable [Effect] shield profitability",
    "gold": "[Cause] economic conditions deteriorate [Relation] cause [Effect] declining load volume and soft pricing, especially for spot freight",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Landstar's asset-light business model helps shield profitability; however, the firm isn't immune to freight downturns--when economic conditions deteriorate, gross revenue trends will reflect declining load volume and soft pricing, especially for spot freight.",
    "output": "[Cause] economic conditions deteriorate [Relation] cause [Effect] gross revenue trends will reflect declining load volume and soft pricing, especially for spot freight",
    "gold": "[Cause] Landstar's asset-light business model [Relation] enable [Effect] shield profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The largest and most mature segment, Network Solutions, is projected to grow 5%-7%, largely attributable to volume, acquisitions, and to a lesser extent new (organic) customer additions and product launches.",
    "output": "[Cause] volume, acquisitions, and to a lesser extent new (organic) customer additions and product launches [Relation] cause [Effect] The largest and most mature segment, Network Solutions, is projected to grow 5%-7%",
    "gold": "[Cause] volume, acquisitions, and to a lesser extent new (organic) customer additions and product launches [Relation] cause [Effect] The largest and most mature segment, Network Solutions, is projected to grow 5%-7%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In looking at the core business of Pfizer, we expect 8% annual sales growth between 2020 and 2023 as new drugs offset generic competition.",
    "output": "[Cause] new drugs offset generic competition [Relation] cause [Effect] 8% annual sales growth between 2020 and 2023",
    "gold": "[Cause] new drugs offset generic competition [Relation] enable [Effect] 8% annual sales growth between 2020 and 2023",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Hawthorne's revenue to grow nearly 4 times over the next decade as hydroponics, indoor gardening, and vertical farming experience significant growth.",
    "output": "[Cause] hydroponics, indoor gardening, and vertical farming experience significant growth [Relation] cause [Effect] Hawthorne's revenue to grow nearly 4 times over the next decade",
    "gold": "[Cause] hydroponics, indoor gardening, and vertical farming experience significant growth [Relation] enable [Effect] Hawthorne's revenue to grow nearly 4 times over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "New pipelines are typically constructed to allow shippers or producers to take advantage of large price differentials (basis differentials) between two market hubs because supply and demand are out of balance in both markets.",
    "output": "[Cause] New pipelines are typically constructed [Relation] enable [Effect] shippers or producers to take advantage of large price differentials (basis differentials) between two market hubs",
    "gold": "[Cause] supply and demand are out of balance in both markets [Relation] cause [Effect] large price differentials (basis differentials) between two market hubs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "New pipelines are typically constructed to allow shippers or producers to take advantage of large price differentials (basis differentials) between two market hubs because supply and demand are out of balance in both markets.",
    "output": "[Cause] New pipelines are typically constructed [Relation] enable [Effect] shippers or producers to take advantage of large price differentials (basis differentials) between two market hubs",
    "gold": "[Cause] New pipelines are typically constructed [Relation] enable [Effect] shippers or producers to take advantage of large price differentials (basis differentials) between two market hubs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the company's revenue is directly tied to revenue at its merchant customers, Global Payments is sensitive to macroeconomic conditions, and its small-merchant focus magnifies this dynamic, as small merchants can fail in large numbers during recessions.",
    "output": "[Cause] small merchants can fail in large numbers during recessions [Relation] cause [Effect] its small-merchant focus magnifies this dynamic",
    "gold": "[Cause]  small merchants can fail in large numbers during recessions [Relation] cause [Effect]  its small-merchant focus magnifies this dynamic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect AT&amp;T and Verizon will increasingly turn to fixed-wireless Internet access as 5G wireless technologies emerge to close the gap with the cable companies.",
    "output": "[Cause] 5G wireless technologies emerge [Relation] cause [Effect] close the gap with the cable companies",
    "gold": "[Cause] T and Verizon will increasingly turn to fixed-wireless Internet access [Relation] prevent [Effect] the gap with the cable companies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also expect AT&amp;T and Verizon will increasingly turn to fixed-wireless Internet access as 5G wireless technologies emerge to close the gap with the cable companies.",
    "output": "[Cause] 5G wireless technologies emerge [Relation] cause [Effect] close the gap with the cable companies",
    "gold": "[Cause] 5G wireless technologies emerge [Relation] cause [Effect] AT&amp;T and Verizon will increasingly turn to fixed-wireless Internet access",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For 2021, we expect gross revenue to rise 12%-13% on robust demand and contract-pricing trends in the first half and look for net revenue to increase in the midteens as the firm passes along rising carrier rates to shippers and gross margins recover.",
    "output": "[Cause] the firm passes along rising carrier rates to shippers and gross margins recover [Relation] cause [Effect] gross revenue to rise 12%-13% on robust demand and contract-pricing trends in the first half and look for net revenue to increase in the midteens",
    "gold": "[Cause] the firm passes along rising carrier rates to shippers and gross margins recover [Relation] enable [Effect] gross revenue to rise 12%-13% on robust demand and contract-pricing trends in the first half and look for net revenue to increase in the midteens",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, these segments have grown faster than the broader market in recent years, and firms such as Applied have directly benefited, as it can outspend smaller chip equipment firms in research and development to develop more advanced solutions.",
    "output": "[Cause] it can outspend smaller chip equipment firms in research and development to develop more advanced solutions [Relation] cause [Effect] these segments have grown faster than the broader market in recent years, and firms such as Applied have directly benefited",
    "gold": "[Cause]  it can outspend smaller chip equipment firms in research and development to develop more advanced solutions [Relation] enable [Effect]  these segments have grown faster than the broader market in recent years, and firms such as Applied have directly benefited",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Being unable to get site approvals in countries where corruption could be more prevalent could impact growth in the international business, but with international business only one quarter of total sales, we wouldn't expect difficulties or delays in getting approvals to cause major disruption for SBA's business.",
    "output": "[Cause] corruption could be more prevalent [Relation] cause [Effect] Being unable to get site approvals in countries",
    "gold": "[Cause] corruption could be more prevalent [Relation] cause [Effect] Being unable to get site approvals in countries",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Being unable to get site approvals in countries where corruption could be more prevalent could impact growth in the international business, but with international business only one quarter of total sales, we wouldn't expect difficulties or delays in getting approvals to cause major disruption for SBA's business.",
    "output": "[Cause] difficulties or delays in getting approvals [Relation] prevent [Effect] major disruption for SBA's business",
    "gold": "[Cause] Being unable to get site approvals in countries [Relation] cause [Effect] impact growth in the international business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Being unable to get site approvals in countries where corruption could be more prevalent could impact growth in the international business, but with international business only one quarter of total sales, we wouldn't expect difficulties or delays in getting approvals to cause major disruption for SBA's business.",
    "output": "[Cause] difficulties or delays in getting approvals [Relation] prevent [Effect] major disruption for SBA's business",
    "gold": "[Cause] difficulties or delays in getting approvals [Relation] cause [Effect] major disruption for SBA's business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Currently, volume increases are driving down the per-user customer acquisition and retention costs, and although we expect these costs to be structurally higher than those of cigarettes in the long term, the impact is not likely to be material.",
    "output": "[Cause] volume increases [Relation] cause [Effect] driving down the per-user customer acquisition and retention costs",
    "gold": "[Cause] volume increases [Relation] enable [Effect] driving down the per-user customer acquisition and retention costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Profitability should improve as Walmart focuses on its most attractive markets, with segment margins rising from 3.1% in fiscal 2021 to more than 5% by fiscal 2031.",
    "output": "[Cause] Walmart focuses on its most attractive markets, with segment margins rising from 3.1% in fiscal 2021 to more than 5% by fiscal 2031 [Relation] cause [Effect] Profitability should improve",
    "gold": "[Cause]  Walmart focuses on its most attractive markets, with segment margins rising from 3.1% in fiscal 2021 to more than 5% by fiscal 2031 [Relation] cause [Effect] Profitability should improve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As interest rates have remained under pressure and new regulations have led to stricter capital requirements, profits of life insurers have thus far not really recovered.",
    "output": "[Cause] interest rates have remained under pressure and new regulations have led to stricter capital requirements [Relation] cause [Effect] profits of life insurers have thus far not really recovered",
    "gold": "[Cause] interest rates have remained under pressure and new regulations have led to stricter capital requirements [Relation] cause [Effect] profits of life insurers have thus far not really recovered",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "American Airline's ratio of mileage earned to mileage spent has been reasonably close to one since disclosure began in 2017, suggesting that the program is mature and that frequent-flier-based margin expansion will be difficult going forward.",
    "output": "[Cause] disclosure began in 2017 [Relation] cause [Effect] American Airline's ratio of mileage earned to mileage spent has been reasonably close to one",
    "gold": "[Cause] American Airline's ratio of mileage earned to mileage spent has been reasonably close to one since disclosure began in 2017 [Relation] cause [Effect] the program is mature",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "American Airline's ratio of mileage earned to mileage spent has been reasonably close to one since disclosure began in 2017, suggesting that the program is mature and that frequent-flier-based margin expansion will be difficult going forward.",
    "output": "[Cause] American Airline's ratio of mileage earned to mileage spent has been reasonably close to one since disclosure began in 2017 [Relation] cause [Effect] frequent-flier-based margin expansion will be difficult going forward",
    "gold": "[Cause] American Airline's ratio of mileage earned to mileage spent has been reasonably close to one since disclosure began in 2017 [Relation] cause [Effect] frequent-flier-based margin expansion will be difficult going forward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we believe that government stimulus has been sufficient to stave off any catastrophic effects, elevated credit costs through 2021 are likely as loans exit forbearance programs and consumer balance sheets remain pressured in the near term.",
    "output": "[Cause] loans exit forbearance programs and consumer balance sheets remain pressured in the near term [Relation] cause [Effect] elevated credit costs through 2021 are likely",
    "gold": "[Cause] loans exit forbearance programs and consumer balance sheets remain pressured in the near term [Relation] cause [Effect] elevated credit costs through 2021 are likely",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In fact, during a downturn in new-vehicle sales, dealers generally report higher gross margins due to a favorable mix shift to parts, but then report lower operating margins due to SG&amp;A deleveraging.",
    "output": "[Cause] a favorable mix shift to parts [Relation] cause [Effect] dealers generally report higher gross margins",
    "gold": "[Cause] a favorable mix shift to parts [Relation] cause [Effect] dealers generally report higher gross margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In fact, during a downturn in new-vehicle sales, dealers generally report higher gross margins due to a favorable mix shift to parts, but then report lower operating margins due to SG&amp;A deleveraging.",
    "output": "[Cause] SG&amp;A deleveraging [Relation] cause [Effect] report lower operating margins",
    "gold": "[Cause] SG&amp;A deleveraging [Relation] cause [Effect]  report lower operating margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Dick's is an important retailer for Under Armour and other athletic apparel brands, we do not think it has any ability to prevent Under Armour or others from supplying their products to competing stores.",
    "output": "[Cause] Dick's is an important retailer for Under Armour and other athletic apparel brands [Relation] prevent [Effect] Under Armour or others from supplying their products to competing stores",
    "gold": "[Cause]  it has any ability [Relation] prevent [Effect]  Under Armour or others from supplying their products to competing stores",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, we've baked in less steep cuts in the second round of three-year reimbursement resetting, as more hospital-based labs are included in the Medicare calculations.",
    "output": "[Cause] more hospital-based labs are included in the Medicare calculations [Relation] cause [Effect] we've baked in less steep cuts in the second round of three-year reimbursement resetting",
    "gold": "[Cause] more hospital-based labs are included in the Medicare calculations [Relation] cause [Effect] we've baked in less steep cuts in the second round of three-year reimbursement resetting",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, over the medium to longer term, we don't think this lofty trajectory has staying power, particularly as vaccine distribution becomes more widespread and concerns surrounding the virus ultimately fade. As such, we're holding the line on our long-term forecast for 3%-4% annual sales growth and operating margins approximating 20% by the end of the next 10 years (about 100 basis points north of the level achieved in fiscal 2020).",
    "output": "[Cause] over the medium to longer term, we don't think this lofty trajectory has staying power, particularly as vaccine distribution becomes more widespread and concerns surrounding the virus ultimately fade [Relation] cause [Effect] we're holding the line on our long-term forecast for 3%-4% annual sales growth and operating margins approximating 20% by the end of the next 10 years (about 100 basis points north of the level achieved in fiscal 2020)",
    "gold": "[Cause] over the medium to longer term, we don't think this lofty trajectory has staying power, particularly as vaccine distribution becomes more widespread and concerns surrounding the virus ultimately fade [Relation] cause [Effect] we're holding the line on our long-term forecast for 3%-4% annual sales growth and operating margins approximating 20% by the end of the next 10 years (about 100 basis points north of the level achieved in fiscal 2020)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Secular tailwinds include broad-based accelerated adoption of cloud-based technology by businesses, which should generate strong demand for such products in the contact center space, as well.",
    "output": "[Cause] Secular tailwinds include broad-based accelerated adoption of cloud-based technology by businesses [Relation] cause [Effect] generate strong demand for such products in the contact center space, as well",
    "gold": "[Cause] Secular tailwinds [Relation] enable [Effect] which should generate strong demand for such products in the contact center space",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, we think additional gains can be realized as Mondelez empowers leaders that maintain a pulse on local consumer tastes to make decisions regarding product innovation and distribution (even if the benefits take longer to manifest), all with the aim of enhancing its agility.",
    "output": "[Cause] Mondelez empowers leaders that maintain a pulse on local consumer tastes to make decisions regarding product innovation and distribution (even if the benefits take longer to manifest) [Relation] enable [Effect] additional gains can be realized",
    "gold": "[Cause] Mondelez empowers leaders that maintain a pulse on local consumer tastes to make decisions regarding product innovation and distribution (even if the benefits take longer to manifest) [Relation] enable [Effect]  additional gains can be realized",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Assuming recurring pandemic lockdowns don't spark recession, we expect 4%-5% growth in fiscal 2022 on persistent B2C demand growth, partly offset by tough comparisons.",
    "output": "[Cause] persistent B2C demand growth [Relation] cause [Effect] 4%-5% growth in fiscal 2022",
    "gold": "[Cause] Assuming recurring pandemic lockdowns don't spark recession [Relation] cause [Effect] we expect 4%-5% growth in fiscal 2022 on persistent B2C demand growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Paylocity continues to invest in its platform to offer new modules within the payroll and HCM space that would streamline business operations for its clients.",
    "output": "[Cause] Paylocity continues to invest in its platform to offer new modules within the payroll and HCM space [Relation] enable [Effect] streamline business operations for its clients",
    "gold": "[Cause] Paylocity continues to invest in its platform to offer new modules within the payroll and HCM space [Relation] cause [Effect] streamline business operations for its clients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast total production volumes to fall slightly during the next five years due to our expectation oil volumes decline at 1%-2% per year, in line with management's guidance.",
    "output": "[Cause] our expectation oil volumes decline at 1%-2% per year [Relation] cause [Effect] total production volumes to fall slightly during the next five years",
    "gold": "[Cause] our expectation oil volumes decline at 1%-2% per year [Relation] cause [Effect] total production volumes to fall slightly during the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that the introduction of \"\"\"\"Internet of Things\"\"\"\" offerings that complement Ingersoll-Rand's installed base of equipment will reinforce customer switching costs.",
    "output": "[Cause] the introduction of \"\"\"\"Internet of Things\"\"\"\" offerings that complement Ingersoll-Rand's installed base of equipment [Relation] enable [Effect] reinforce customer switching costs",
    "gold": "[Cause]  the introduction of \"\"\"\"Internet of Things\"\"\"\" offerings that complement Ingersoll-Rand's installed base of equipment [Relation] cause [Effect]  reinforce customer switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Renewable energy and gas distribution infrastructure investment should result in better than 7% earnings growth, strong dividend growth, a better ESG profile, and lower risk for investors.",
    "output": "[Cause] Renewable energy and gas distribution infrastructure investment [Relation] cause [Effect] better than 7% earnings growth, strong dividend growth, a better ESG profile, and lower risk for investors",
    "gold": "[Cause] Renewable energy and gas distribution infrastructure investment [Relation] cause [Effect]  better than 7% earnings growth, strong dividend growth, a better ESG profile, and lower risk for investors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While product complexity does prevent new entrants into the industry, we do not believe the product complexity is insurmountable in this segment.",
    "output": "[Cause] product complexity [Relation] prevent [Effect] new entrants into the industry",
    "gold": "[Cause] product complexity [Relation] prevent [Effect] new entrants into the industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By owning a substantial senior housing operating portfolio, Welltower has unlocked value in its most favorable assets, but this also leads to more volatility and financial risk versus the traditional triple-net lease structure, which remains in place for weaker assets.",
    "output": "[Cause] Welltower has unlocked value in its most favorable assets [Relation] cause [Effect] more volatility and financial risk versus the traditional triple-net lease structure",
    "gold": "[Cause]  a substantial senior housing operating portfolio [Relation] enable [Effect] Welltower has unlocked value in its most favorable assets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "By owning a substantial senior housing operating portfolio, Welltower has unlocked value in its most favorable assets, but this also leads to more volatility and financial risk versus the traditional triple-net lease structure, which remains in place for weaker assets.",
    "output": "[Cause] Welltower has unlocked value in its most favorable assets [Relation] cause [Effect] more volatility and financial risk versus the traditional triple-net lease structure",
    "gold": "[Cause] Welltower has unlocked value in its most favorable assets [Relation] cause [Effect]  more volatility and financial risk versus the traditional triple-net lease structure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are increasing our fair value estimate to $77 from $74 to reflect our stronger near-term revenue and margin expectations. This estimate is principally based on our assumptions of revenue growth over the next five years, which we expect to be 4.4% on average.",
    "output": "[Cause] Our are increasing our fair value estimate to $77 from $74 to reflect our stronger near-term revenue and margin expectations [Relation] cause [Effect] based on our assumptions of revenue growth over the next five years, which we expect to be 4.4% on average",
    "gold": "[Cause]  our assumptions of revenue growth over the next five years, which we expect to be 4.4% on average [Relation] cause [Effect] We are increasing our fair value estimate to $77 from $74 to reflect our stronger near-term revenue and margin expectations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Despite all of these positive recent trends related to those strategic initiatives, external factors and an inflated debt position create uncertainty around Tenet.",
    "output": "[Cause] external factors and an inflated debt position [Relation] cause [Effect] uncertainty around Tenet",
    "gold": "[Cause] external factors and an inflated debt position [Relation] cause [Effect] uncertainty around Tenet",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "TAL Education has been able to raise 5%-10% of its fees every two to three years on new students or Education & Training Servicesnew programs to cover rising costs, driving an improving margin as utilization and operational efficiency continues to improve.",
    "output": "[Cause] new students or Education & Training Servicesnew programs [Relation] enable [Effect] TAL Education has been able to raise 5%-10% of its fees every two to three years",
    "gold": "[Cause] TAL Education has been able to raise 5%-10% of its fees every two to three years on new students or Education & Training Servicesnew programs [Relation] enable [Effect]  cover rising costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "TAL Education has been able to raise 5%-10% of its fees every two to three years on new students or Education & Training Servicesnew programs to cover rising costs, driving an improving margin as utilization and operational efficiency continues to improve.",
    "output": "[Cause] utilization and operational efficiency continues to improve [Relation] cause [Effect] driving an improving margin",
    "gold": "[Cause] utilization and operational efficiency continues to improve [Relation] cause [Effect]  driving an improving margin",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Providing a mix of new aftermarket, recycled, remanufactured, and specialty products across a region allows LKQ to shift inventory between warehouse locations to maximize fulfillment rates and minimize delivery times.",
    "output": "[Cause] Providing a mix of new aftermarket, recycled, remanufactured, and specialty products across a region [Relation] enable [Effect] LKQ to shift inventory between warehouse locations to maximize fulfillment rates and minimize delivery times",
    "gold": "[Cause] Providing a mix of new aftermarket, recycled, remanufactured, and specialty products across a region [Relation] enable [Effect]  LKQ to shift inventory between warehouse locations to maximize fulfillment rates and minimize delivery times",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume individual sites of destruction as a normal course of business that is likely to happen on an annual basis, but entire regions would need to be put out of service to have a material financial impact.",
    "output": "[Cause] individual sites of destruction as a normal course of business that is likely to happen on an annual basis [Relation] cause [Effect] entire regions would need to be put out of service to have a material financial impact",
    "gold": "[Cause] entire regions would need to be put out of service [Relation] cause [Effect] a material financial impact",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With e-commerce becoming a more material portion of the market, traditional point-of-sale acquirers are building out their online capabilities, and, in our view, it is notable that the commonality in the wave of M&A in 2019 was the combination of acquirer and issuer operations.",
    "output": "[Cause] e-commerce becoming a more material portion of the market [Relation] cause [Effect] traditional point-of-sale acquirers are building out their online capabilities",
    "gold": "[Cause] e-commerce becoming a more material portion of the market [Relation] enable [Effect] traditional point-of-sale acquirers are building out their online capabilities |  the commonality in the wave of M&A in 2019 was the combination of acquirer and issuer operations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A downturn in this industry would significantly affect the economies of these markets and negatively affect the fundamentals of Essex's assets in these markets.",
    "output": "[Cause] A downturn in this industry [Relation] cause [Effect] affect the economies of these markets",
    "gold": "[Cause] A downturn in this industry [Relation] cause [Effect] negatively affect the fundamentals of Essex's assets in these markets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A downturn in this industry would significantly affect the economies of these markets and negatively affect the fundamentals of Essex's assets in these markets.",
    "output": "[Cause] A downturn in this industry [Relation] cause [Effect] negatively affect the fundamentals of Essex's assets in these markets",
    "gold": "[Cause] A downturn in this industry [Relation] cause [Effect] affect the economies of these markets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Kroger has strong pricing leverage for CPG items and the ability for Walgreens to obtain such pricing could improve cross selling of front end products and as a result improve profitability.",
    "output": "[Cause] improve cross selling of front end products [Relation] cause [Effect] improve profitability",
    "gold": "[Cause] improve cross selling of front end products [Relation] cause [Effect] improve profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We aren't as positive about Sky, Comcast's most recent acquisition, given the high price paid, but we expect Comcast will use this asset to enhance NBCU's competitive position.",
    "output": "[Cause] the high price paid [Relation] cause [Effect] We aren't as positive about Sky, Comcast's most recent acquisition",
    "gold": "[Cause] Sky, Comcast's most recent acquisition [Relation] enable [Effect] enhance NBCU's competitive position.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "US Foods can generally pass through food inflation from 1% to 3%, but when it exceeds this, it can take several weeks to fully pass the inflation through, which can lead to prolonged margin compression.",
    "output": "[Cause] US Foods can generally pass through food inflation from 1% to 3%, but when it exceeds this, it can take several weeks to fully pass the inflation through [Relation] cause [Effect] prolonged margin compression",
    "gold": "[Cause] US Foods can generally pass through food inflation from 1% to 3%, but when it exceeds this, it can take several weeks to fully pass the inflation through [Relation] cause [Effect] prolonged margin compression",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As patents for FMC's premium products expire, the company must continue to invest in R&D to develop new products in order to maintain the same levels of profitability.",
    "output": "[Cause] patents for FMC's premium products expire [Relation] cause [Effect] the company must continue to invest in R&D to develop new products in order to maintain the same levels of profitability",
    "gold": "[Cause]  patents for FMC's premium products expire [Relation] cause [Effect] the company must continue to invest in R&D to develop new products in order to maintain the same levels of profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project adjusted EBITDA margins expanding by about 400 basis points over the next five years, primarily due to expected cost synergies from the merger as well as mix shift.",
    "output": "[Cause] expected cost synergies from the merger as well as mix shift [Relation] cause [Effect] adjusted EBITDA margins expanding by about 400 basis points over the next five years",
    "gold": "[Cause] expected cost synergies from the merger as well as mix shift [Relation] enable [Effect] adjusted EBITDA margins expanding by about 400 basis points over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, from October 2015, the government also required each operator to introduce the Mobile Data Carry-Over Policy. This policy allowed customers to carry forward unused data from one month to be used in the next month, and had a very large negative impact on fourth-quarter earnings that year.",
    "output": "[Cause] from October 2015, the government also required each operator to introduce the Mobile Data Carry-Over Policy [Relation] enable [Effect] customers to carry forward unused data from one month to be used in the next month",
    "gold": "[Cause]  from October 2015, the government also required each operator to introduce the Mobile Data Carry-Over Policy [Relation] enable [Effect] customers to carry forward unused data from one month to be used in the next month",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, from October 2015, the government also required each operator to introduce the Mobile Data Carry-Over Policy. This policy allowed customers to carry forward unused data from one month to be used in the next month, and had a very large negative impact on fourth-quarter earnings that year.",
    "output": "[Cause] the government also required each operator to introduce the Mobile Data Carry-Over Policy [Relation] enable [Effect] customers to carry forward unused data from one month to be used in the next month",
    "gold": "[Cause]  from October 2015, the government also required each operator to introduce the Mobile Data Carry-Over Policy [Relation] cause [Effect] a very large negative impact on fourth-quarter earnings that year",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our expectations would continue a historical trend as Workday has already gone from services constituting 34% of revenue in 2012 to now 15% in 2020.",
    "output": "[Cause] Workday has already gone from services constituting 34% of revenue in 2012 to now 15% in 2020 [Relation] cause [Effect] Our expectations would continue a historical trend",
    "gold": "[Cause] Workday has already gone from services constituting 34% of revenue in 2012 to now 15% in 2020 [Relation] cause [Effect] Our expectations would continue a historical trend",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also believe that Domino's maintains a scale-driven cost advantage, with the firm benefiting from both favorable food procurement costs and leveraged advertising and technology expenditures across its franchise network.",
    "output": "[Cause] the firm benefiting from both favorable food procurement costs and leveraged advertising and technology expenditures across its franchise network [Relation] enable [Effect] Domino's maintains a scale-driven cost advantage",
    "gold": "[Cause] the firm benefiting from both favorable food procurement costs and leveraged advertising and technology expenditures across its franchise network [Relation] cause [Effect] Domino's maintains a scale-driven cost advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To encourage broadband users, the firm has been rolling out fibre into its fixed-line network to provide its customers with faster speeds, with over 96% of its broadband customers on FTTH by year-end 2019 and over 220 million homes passed with FTTH.",
    "output": "[Cause] the firm has been rolling out fibre into its fixed-line network [Relation] enable [Effect] provide its customers with faster speeds",
    "gold": "[Cause] the firm has been rolling out fibre into its fixed-line network to provide its customers with faster speeds [Relation] enable [Effect] with over 96% of its broadband customers on FTTH by year-end 2019 and over 220 million homes passed with FTTH",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We assign Darden Restaurants a high uncertainty rating, consistent with our view that intense competition in a declining casual dining segment, blurring lines in the food-service industry, and exogenous operational risks result in elevated uncertainty relative to quick-service restaurant peers.",
    "output": "[Cause] intense competition in a declining casual dining segment, blurring lines in the food-service industry, and exogenous operational risks [Relation] cause [Effect] elevated uncertainty relative to quick-service restaurant peers",
    "gold": "[Cause]  intense competition in a declining casual dining segment, blurring lines in the food-service industry, and exogenous operational risks result in elevated uncertainty relative to quick-service restaurant peers [Relation] cause [Effect] We assign Darden Restaurants a high uncertainty rating",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Management has previously stated that it wants to partner with a U.S.-based consumer packaged goods company to deliver THC-infused products once there is a change to federal law.",
    "output": "[Cause] there is a change to federal law [Relation] cause [Effect] it wants to partner with a U.S.-based consumer packaged goods company to deliver THC-infused products",
    "gold": "[Cause]  there is a change to federal law [Relation] enable [Effect] it wants to partner with a U.S.-based consumer packaged goods company to deliver THC-infused products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the developed world, margins from farming are quite low, which allows Deere to sell farmers on efficiency gains through continuous product innovation in what has become an agricultural arms race.",
    "output": "[Cause] margins from farming are quite low [Relation] enable [Effect] Deere to sell farmers on efficiency gains through continuous product innovation in what has become an agricultural arms race",
    "gold": "[Cause] margins from farming are quite low [Relation] enable [Effect]  Deere to sell farmers on efficiency gains through continuous product innovation in what has become an agricultural arms race",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Landstar's trucking capacity is unusual for an asset-light broker because it relies in part on captive owner-operators (which the firm refers to as business capacity owners), in addition to unaffiliated third-party carriers, to haul freight.",
    "output": "[Cause] it relies in part on captive owner-operators (which the firm refers to as business capacity owners), in addition to unaffiliated third-party carriers, to haul freight [Relation] cause [Effect] Landstar's trucking capacity is unusual for an asset-light broker",
    "gold": "[Cause] it relies in part on captive owner-operators (which the firm refers to as business capacity owners), in addition to unaffiliated third-party carriers, to haul freight [Relation] cause [Effect] Landstar's trucking capacity is unusual for an asset-light broker",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lastly, as the company expands Zoom Phone, we expect increased competition from legacy and modern cloud-based private phone providers, such as Avaya, RingCentral, and 8x8.",
    "output": "[Cause] the company expands Zoom Phone [Relation] cause [Effect] increased competition from legacy and modern cloud-based private phone providers",
    "gold": "[Cause] the company expands Zoom Phone [Relation] cause [Effect] increased competition from legacy and modern cloud-based private phone providers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the next five years, we model cloud subscriptions and managed services to rapidly expand alongside a growing professional services business, while products and related subscriptions and support decline.",
    "output": "[Cause] a growing professional services business [Relation] cause [Effect] cloud subscriptions and support decline",
    "gold": "[Cause]  a growing professional services business [Relation] cause [Effect] products and related subscriptions and support decline",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over the next five years, we model cloud subscriptions and managed services to rapidly expand alongside a growing professional services business, while products and related subscriptions and support decline.",
    "output": "[Cause] cloud subscriptions and support decline [Relation] cause [Effect] cloud subscriptions and managed services to rapidly expand alongside a growing professional services business",
    "gold": "[Cause]  a growing professional services business [Relation] enable [Effect] cloud subscriptions and managed services to rapidly expand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Management targets about EUR 5.0 billion in annual run-rate synergies from the merger, 80% of which to be realized after four years on a one-time cost estimated at EUR 4.0 billion.",
    "output": "[Cause] the merger [Relation] cause [Effect] Management targets about EUR 5.0 billion in annual run-rate synergies",
    "gold": "[Cause] a one-time cost estimated at EUR 4.0 billion [Relation] cause [Effect] 80% of which to be realized after four years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe that TransDigm Group has intangible assets stemming from intellectual property rights on components that manifest as a material barrier to entry.",
    "output": "[Cause] intellectual property rights on components [Relation] cause [Effect] TransDigm Group has intangible assets",
    "gold": "[Cause] intellectual property rights on components [Relation] enable [Effect] TransDigm Group has intangible assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We note that although the company is currently somewhat insulated against foreign exchange exposure, Align's growing focus on international markets is likely to increase the breadth of its currency exposure somewhat.",
    "output": "[Cause] Align's growing focus on international markets [Relation] enable [Effect] increase the breadth of its currency exposure somewhat",
    "gold": "[Cause] Align's growing focus on international markets [Relation] cause [Effect] increase the breadth of its currency exposure somewhat",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With real-time return on investment analyses of the ads, the firm's clients are able to adjust their marketing strategies dynamically.",
    "output": "[Cause] real-time return on investment analyses of the ads [Relation] enable [Effect] the firm's clients are able to adjust their marketing strategies dynamically",
    "gold": "[Cause] real-time return on investment analyses of the ads [Relation] enable [Effect] the firm's clients are able to adjust their marketing strategies dynamically",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "All in, while we are confident that net economic profit generation over the next 10 years will be positive (we model ROICs reaching high-single digits by 2024 versus a 6.8% weighted average cost of capital), the segment dynamics we have outlined limit our confidence in a 20-year time horizon.",
    "output": "[Cause] the segment dynamics we have outlined [Relation] prevent [Effect] our confidence in a 20-year time horizon",
    "gold": "[Cause] we are confident that net economic profit generation over the next 10 years will be positive (we model ROICs reaching high-single digits by 2024 versus a 6.8% weighted average cost of capital) [Relation] cause [Effect]  the segment dynamics we have outlined limit our confidence in a 20-year time horizon",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Solutions like these are especially valuable in hazardous environments, since they allow the user to keep a safe distance from dangerous areas.",
    "output": "[Cause] they allow the user to keep a safe distance from dangerous areas [Relation] cause [Effect] Solutions like these are especially valuable in hazardous environments",
    "gold": "[Cause] they allow the user to keep a safe distance from dangerous areas [Relation] cause [Effect] Solutions like these are especially valuable in hazardous environments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nevertheless, despite these strategic moves to control costs, the shift of its portfolio toward fixed-cost contracts has increased Fluor's exposure to the risk of large losses on individual projects.",
    "output": "[Cause] the shift of its portfolio toward fixed-cost contracts [Relation] cause [Effect] increased Fluor's exposure to the risk of large losses on individual projects",
    "gold": "[Cause] these strategic moves to control costs [Relation] cause [Effect]  the shift of its portfolio toward fixed-cost contracts has increased Fluor's exposure to the risk of large losses on individual projects",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The differentiated concept has the vast majority of items priced at $1, simplifying the company's value proposition (though the firm has added a small section of somewhat higher-priced items).",
    "output": "[Cause] The differentiated concept [Relation] enable [Effect] simplifying the company's value proposition",
    "gold": "[Cause] The differentiated concept [Relation] enable [Effect] the vast majority of items priced at $1",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Expanded technological offerings may help differentiate H&P's services--that is, until competitors deploy similar enhancements--but we do not see evidence that this technology lifts operating margins.",
    "output": "[Cause] Expanded technological offerings [Relation] enable [Effect] differentiate H&P's services",
    "gold": "[Cause] Expanded technological offerings [Relation] enable [Effect] differentiate H&P's services",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The market services business received a nice bump in revenue in 2020 from higher market volatility and changes in retail investor behavior because of COVID-19, which we expect will partially revert over the next two years.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] The market services business received a nice bump in revenue in 2020 from higher market volatility and changes in retail investor behavior",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] The market services business received a nice bump in revenue in 2020 from higher market volatility and changes in retail investor behavior",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At this point, we believe cannabis market share may be more reflective of distribution rather than brand, especially as the slow rollout of cannabis in Canada hinders growth.",
    "output": "[Cause] the slow rollout of cannabis in Canada hinders growth [Relation] cause [Effect] cannabis market share may be more reflective of distribution rather than brand",
    "gold": "[Cause] the slow rollout of cannabis in Canada [Relation] cause [Effect] hinders growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The third quarter also showed progress in shifting the newly acquired pork business from essentially breakeven in 2019, to mid-single-digit operating margins by 2021 and beyond, as Pilgrim's improves operations.",
    "output": "[Cause] Pilgrim's improves operations [Relation] cause [Effect] The third quarter also showed progress in shifting the newly acquired pork business from essentially breakeven in 2019, to mid-single-digit operating margins by 2021 and beyond",
    "gold": "[Cause] Pilgrim's improves operations [Relation] cause [Effect] The third quarter also showed progress in shifting the newly acquired pork business from essentially breakeven in 2019, to mid-single-digit operating margins by 2021 and beyond",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast that Check Point will continue to see near term turbulence within its products and licenses business as enterprises continue their migration toward software-defined products from hardware appliances.",
    "output": "[Cause] enterprises continue their migration toward software-defined products from hardware appliances [Relation] cause [Effect] Check Point will continue to see near term turbulence within its products and licenses business",
    "gold": "[Cause] enterprises continue their migration toward software-defined products from hardware appliances [Relation] cause [Effect] Check Point will continue to see near term turbulence within its products and licenses business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With baby boomers hitting Medicare age, there could be future cuts to Medicare reimbursement for device-related procedures, which would translate into financial pressure for Medtronic's hospital customers.",
    "output": "[Cause] future cuts to Medicare reimbursement for device-related procedures [Relation] cause [Effect] financial pressure for Medtronic's hospital customers",
    "gold": "[Cause] future cuts to Medicare reimbursement for device-related procedures [Relation] cause [Effect] financial pressure for Medtronic's hospital customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Essex's portfolio focuses on markets with strong demand drivers, the pandemic has caused many millennials to consider moving to the suburbs, either into suburban apartments or their own single-family homes, which limits the potential short-term demand for new urban apartments.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] many millennials to consider moving to the suburbs",
    "gold": "[Cause] many millennials to consider moving to the suburbs [Relation] cause [Effect] limits the potential short-term demand for new urban apartments",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe networking teams are reticent to change vendors because of VMware's superiority in feature suites, user-friendly graphical user interfaces, and potential network disruption.",
    "output": "[Cause] VMware's superiority in feature suites, user-friendly graphical user interfaces, and potential network disruption [Relation] cause [Effect] networking teams are reticent to change vendors",
    "gold": "[Cause] VMware's superiority in feature suites, user-friendly graphical user interfaces, and potential network disruption [Relation] cause [Effect] networking teams are reticent to change vendors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe this has spread company resources too thin, causing underinvestment in brands, which has resulted in a lack of brand equity and pricing power.",
    "output": "[Cause] this has spread company resources too thin [Relation] cause [Effect] underinvestment in brands",
    "gold": "[Cause] this has spread company resources too thin [Relation] cause [Effect] underinvestment in brands",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe this has spread company resources too thin, causing underinvestment in brands, which has resulted in a lack of brand equity and pricing power.",
    "output": "[Cause] underinvestment in brands [Relation] cause [Effect] a lack of brand equity and pricing power",
    "gold": "[Cause] underinvestment in brands [Relation] cause [Effect] a lack of brand equity and pricing power",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Longer term, efforts focused on elevating key brands (Barbie, Hot Wheels), winning new licenses, and increasing supply chain speed (faster to market), could support sales and market share growth at Mattel.",
    "output": "[Cause] efforts focused on elevating key brands (Barbie, Hot Wheels), winning new licenses, and increasing supply chain speed (faster to market) [Relation] enable [Effect] support sales and market share growth at Mattel",
    "gold": "[Cause] efforts focused on elevating key brands (Barbie, Hot Wheels), winning new licenses, and increasing supply chain speed (faster to market) [Relation] enable [Effect] support sales and market share growth at Mattel",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In contrast, the Appalachian region was relatively underdeveloped until the emergence of the Marcellus in the last decade, so access to key infrastructure and resources is far more limited.",
    "output": "[Cause] the Appalachian region was relatively underdeveloped until the emergence of the Marcellus in the last decade [Relation] cause [Effect] access to key infrastructure and resources is far more limited",
    "gold": "[Cause] the Appalachian region was relatively underdeveloped until the emergence of the Marcellus in the last decade [Relation] cause [Effect]  access to key infrastructure and resources is far more limited",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "High-yielding business travelers are some of the most profitable customers for airlines and a lack of business travel may constrain new aircraft demand if business travel does not return.",
    "output": "[Cause] a lack of business travel [Relation] prevent [Effect] new aircraft demand",
    "gold": "[Cause] a lack of business travel | business travel does not return [Relation] prevent [Effect] new aircraft demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After a drop in client assets in early 2020, client assets recovered along with the stock market, so Raymond James' wealth management business is doing well.",
    "output": "[Cause] client assets recovered along with the stock market [Relation] cause [Effect] Raymond James' wealth management business is doing well",
    "gold": "[Cause] client assets recovered along with the stock market [Relation] cause [Effect] Raymond James' wealth management business is doing well",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Consequently, we think fiscal 2021 revenue will grow 29% thanks to improved DRAM pricing as well as greater memory and storage requirements across servers, smartphones, game consoles, and new opportunities for Micron such as 2 Jun 2021 05:00, UTCembedded DRAM in automotive.",
    "output": "[Cause] improved DRAM pricing as well as greater memory and storage requirements across servers, smartphones, game consoles, and new opportunities for Micron such as 2 Jun 2021 05:00, UTCembedded DRAM in automotive [Relation] cause [Effect] fiscal 2021 revenue will grow 29%",
    "gold": "[Cause]  improved DRAM pricing as well as greater memory and storage requirements across servers, smartphones, game consoles, and new opportunities for Micron such as 2 Jun 2021 05:00, UTCembedded DRAM in automotive [Relation] enable [Effect]  fiscal 2021 revenue will grow 29%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also estimate that around 25% of client assets are in either a Charles Schwab proprietary or a controlled product, which allows the company to extract more profits on client assets than other brokerages where their clients use primarily third-party products.",
    "output": "[Cause] around 25% of client assets are in either a Charles Schwab proprietary or a controlled product [Relation] enable [Effect] the company to extract more profits on client assets than other brokerages where their clients use primarily third-party products",
    "gold": "[Cause] around 25% of client assets are in either a Charles Schwab proprietary or a controlled product [Relation] enable [Effect] the company to extract more profits on client assets than other brokerages where their clients use primarily third-party products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Now that cloud and enterprise customers alike are more familiar with AMD's platform and support, we expect greater staying power for AMD in the data center.",
    "output": "[Cause] cloud and enterprise customers alike are more familiar with AMD's platform and support [Relation] cause [Effect] greater staying power for AMD in the data center",
    "gold": "[Cause] cloud and enterprise customers alike are more familiar with AMD's platform and support [Relation] cause [Effect] greater staying power for AMD in the data center",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We still think the peripheral artery disease business is a very attractive opportunity for BD and while a paclitaxel setback stripped BD's pipeline of some of its luster, the firm still retains leadership in that area.",
    "output": "[Cause] a paclitaxel setback stripped BD's pipeline of some of its luster [Relation] cause [Effect] the peripheral artery disease business is a very attractive opportunity for BD",
    "gold": "[Cause] the peripheral artery disease business is a very attractive opportunity for BD [Relation] enable [Effect]  the firm still retains leadership in that area",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Despite this, based on the historical trend, we believe the normalized gross margin should stay above 50%, as we expect scale, a higher utilization rate, and cost efficiency will continue to improve in the longer term.",
    "output": "[Cause] scale, a higher utilization rate, and cost efficiency will continue to improve in the longer term [Relation] cause [Effect] the normalized gross margin should stay above 50%",
    "gold": "[Cause] scale, a higher utilization rate, and cost efficiency will continue to improve in the longer term [Relation] cause [Effect] the normalized gross margin should stay above 50%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite this, based on the historical trend, we believe the normalized gross margin should stay above 50%, as we expect scale, a higher utilization rate, and cost efficiency will continue to improve in the longer term.",
    "output": "[Cause] scale, a higher utilization rate, and cost efficiency will continue to improve in the longer term [Relation] cause [Effect] the normalized gross margin should stay above 50%",
    "gold": "[Cause] the historical trend [Relation] cause [Effect] the normalized gross margin should stay above 50%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe Coty will close on the sale of a 60% stake in its professional and retail hair care businesses to KKR for $2.5 billion in net proceeds by November 30, which should allow the firm to reduce debt and fall within the compliance limit.",
    "output": "[Cause] Coty will close on the sale of a 60% stake in its professional and retail hair care businesses to KKR for $2.5 billion in net proceeds by November 30 [Relation] enable [Effect] the firm to reduce debt and fall within the compliance limit",
    "gold": "[Cause] Coty will close on the sale of a 60% stake in its professional and retail hair care businesses to KKR for $2.5 billion in net proceeds by November 30 [Relation] enable [Effect] the firm to reduce debt and fall within the compliance limit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nonetheless, we continue to stand by our more optimistic projections for longer-term growth now that Zimmer Biomet's turnaround efforts have begun to take hold.",
    "output": "[Cause] Zimmer Biomet's turnaround efforts have begun to take hold [Relation] enable [Effect] we continue to stand by our more optimistic projections for longer-term growth now",
    "gold": "[Cause] Zimmer Biomet's turnaround efforts have begun to take hold [Relation] cause [Effect] we continue to stand by our more optimistic projections for longer-term growth now",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we believe these ARM-based chips will remain limited to relatively less-intensive workloads and we do not foresee Amazon or its peers such as Microsoft or Google converting 100% of its data center workloads to ARM-based processors.",
    "output": "[Cause] these ARM-based chips will remain limited to relatively less-intensive workloads [Relation] cause [Effect] we do not foresee Amazon or its peers such as Microsoft or Google converting 100% of its data center workloads to ARM-based processors",
    "gold": "[Cause] these ARM-based chips will remain limited to relatively less-intensive workloads [Relation] cause [Effect] we do not foresee Amazon or its peers such as Microsoft or Google converting 100% of its data center workloads to ARM-based processors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Blurring lines between channels have led to improved and diversified assortments in convenience stores, mass merchandisers, hard discounters, and traditional grocery, and so Dollar General faces a competitive landscape that is becoming more foreboding.",
    "output": "[Cause] Blurring lines between channels [Relation] cause [Effect] improved and diversified assortments in convenience stores, mass merchandisers, hard discounters, and traditional grocery",
    "gold": "[Cause] Blurring lines between channels [Relation] cause [Effect] improved and diversified assortments in convenience stores, mass merchandisers, hard discounters, and traditional grocery",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Blurring lines between channels have led to improved and diversified assortments in convenience stores, mass merchandisers, hard discounters, and traditional grocery, and so Dollar General faces a competitive landscape that is becoming more foreboding.",
    "output": "[Cause] improved and diversified assortments in convenience stores, mass merchandisers, hard discounters, and traditional grocery [Relation] cause [Effect] Dollar General faces a competitive landscape that is becoming more foreboding",
    "gold": "[Cause] improved and diversified assortments in convenience stores, mass merchandisers, hard discounters, and traditional grocery [Relation] cause [Effect] Dollar General faces a competitive landscape that is becoming more foreboding",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If an OEM or Tier 1 wanted to switch away from Sensata in between product cycles, it would require managing two suppliers for the same part for the overlapping time at the end of the prior model's sales cycle and the design phase of the new model.",
    "output": "[Cause] managing two suppliers for the same part for the overlapping time at the end of the prior model's sales cycle and the design phase of the new model [Relation] enable [Effect] an OEM or Tier 1 wanted to switch away from Sensata in between product cycles",
    "gold": "[Cause] managing two suppliers for the same part for the overlapping time at the end of the prior model's sales cycle and the design phase of the new model [Relation] enable [Effect]  an OEM or Tier 1 wanted to switch away from Sensata in between product cycles",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition to the synergistic relationship among intangible assets, these partnerships improve Pepsi's capacity utilization and distribution density, thus bolstering its cost advantage.",
    "output": "[Cause] these partnerships [Relation] enable [Effect] improve Pepsi's capacity utilization and distribution density",
    "gold": "[Cause] synergistic relationship among intangible assets, these partnerships [Relation] enable [Effect] bolstering its cost advantage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Meanwhile, Arkansas legalized gambling in 2018 awarding four gaming licenses, which presents competition for Caesars' properties in the neighboring states of Louisiana, Mississippi, and Missouri.",
    "output": "[Cause] Arkansas legalized gambling in 2018 awarding four gaming licenses [Relation] cause [Effect] presents competition for Caesars' properties in the neighboring states of Louisiana, Mississippi, and Missouri",
    "gold": "[Cause] Arkansas legalized gambling in 2018 awarding four gaming licenses [Relation] enable [Effect]  presents competition for Caesars' properties in the neighboring states of Louisiana, Mississippi, and Missouri",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe deflationary pricing is leading to a shrinking global communications industry, so GTT must rely on taking market share, reducing costs, and making valuable acquisitions to create shareholder value.",
    "output": "[Cause] deflationary pricing [Relation] cause [Effect] a shrinking global communications industry",
    "gold": "[Cause] a shrinking global communications industry [Relation] cause [Effect] GTT must rely on taking market share, reducing costs, and making valuable acquisitions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe deflationary pricing is leading to a shrinking global communications industry, so GTT must rely on taking market share, reducing costs, and making valuable acquisitions to create shareholder value.",
    "output": "[Cause] deflationary pricing [Relation] cause [Effect] a shrinking global communications industry",
    "gold": "[Cause] GTT must rely on taking market share, reducing costs, and making valuable acquisitions [Relation] enable [Effect]  create shareholder value",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think substantial growth will stem from the firm's competitive advantage in simulation and the ongoing rise in global connected devices and 5G rollouts, and Ansys will benefit from digital twins and predictive maintenance as these trends gain more popularity.",
    "output": "[Cause] the firm's competitive advantage in simulation and the ongoing rise in global connected devices and 5G rollouts [Relation] cause [Effect] substantial growth",
    "gold": "[Cause] the firm's competitive advantage in simulation and the ongoing rise in global connected devices and 5G rollouts [Relation] cause [Effect] substantial growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As credit cards grew, partnerships between credit card issuers became necessary, and Visa as a brand was formed in 1976.",
    "output": "[Cause] credit cards grew [Relation] cause [Effect] partnerships between credit card issuers became necessary",
    "gold": "[Cause] credit cards grew [Relation] cause [Effect] partnerships between credit card issuers became necessary",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As credit cards grew, partnerships between credit card issuers became necessary, and Visa as a brand was formed in 1976.",
    "output": "[Cause] partnerships between credit card issuers became necessary [Relation] cause [Effect] Visa as a brand was formed in 1976",
    "gold": "[Cause] partnerships between credit card issuers became necessary [Relation] cause [Effect]  Visa as a brand was formed in 1976",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We estimate revenue will be up modestly in fiscal 2021 as the firm capitalizes on greater data center demand and continues its pivot into flash.",
    "output": "[Cause] the firm capitalizes on greater data center demand and continues its pivot into flash [Relation] cause [Effect] revenue will be up modestly in fiscal 2021",
    "gold": "[Cause]  the firm capitalizes on greater data center demand and continues its pivot into flash [Relation] cause [Effect]  revenue will be up modestly in fiscal 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "CNH Industrial is also exposed to environmental regulation, largely stemming from the environmental impact that agricultural machines have on soil and water quality.",
    "output": "[Cause] the environmental impact that agricultural machines have on soil and water quality [Relation] cause [Effect] CNH Industrial is also exposed to environmental regulation",
    "gold": "[Cause] the environmental impact that agricultural machines have on soil and water quality [Relation] cause [Effect] CNH Industrial is also exposed to environmental regulation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, Altice USA also employs a heavy debt load that will increase the volatility of its shares in what otherwise should be a stable, slow-growing operation.",
    "output": "[Cause] Altice USA also employs a heavy debt load [Relation] cause [Effect] increase the volatility of its shares in what otherwise should be a stable, slow-growing operation",
    "gold": "[Cause] Altice USA also employs a heavy debt load [Relation] cause [Effect]  increase the volatility of its shares in what otherwise should be a stable, slow-growing operation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nice also offers workforce optimization/workforce engagement management services that increase productivity levels of agents via automation, AI-based scheduling, and elimination of redundant processes.",
    "output": "[Cause] Nice also offers workforce optimization/workforce engagement management services [Relation] enable [Effect] increase productivity levels of agents via automation, AI-based scheduling, and elimination of redundant processes",
    "gold": "[Cause] Nice [Relation] cause [Effect] workforce optimization/workforce engagement management services",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Consumer price inelasticity in the aftermarket auto-parts industry creates an opportunity for retailers to differentiate themselves based on service levels, leading to the formation of strong brands as customers navigate a fragmented industry in search of the retail partner that offers the most added value.",
    "output": "[Cause] Consumer price inelasticity in the aftermarket auto-parts industry creates an opportunity for retailers to differentiate themselves based on service levels [Relation] cause [Effect] the formation of strong brands as customers navigate a fragmented industry in search of the retail partner that offers the most added value",
    "gold": "[Cause]  customers navigate a fragmented industry in search of the retail partner that offers the most added value [Relation] cause [Effect]  the formation of strong brands",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, we contend that maintaining an entrenched supply chain creates a virtuous cycle, starting with scale, that affords manufacturers a mutually beneficial relationship with retailers, through which the vendor is an important retail partner, developing sales strategies to maximize volume and retailers' margins while prioritizing its own brands.",
    "output": "[Cause] maintaining an entrenched supply chain creates a virtuous cycle, starting with scale [Relation] enable [Effect] affords manufacturers a mutually beneficial relationship with retailers",
    "gold": "[Cause] vendor is an important retail partner [Relation] cause [Effect] developing sales strategies to maximize volume and retailers' margins while prioritizing its own brands",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Global revenue passenger kilometers have roughly been cut in half in 2020 due to a lack of travel demand from the pandemic, which is the most dramatic shock to global aviation demand ever.",
    "output": "[Cause] a lack of travel demand from the pandemic [Relation] cause [Effect] Global revenue passenger kilometers have roughly been cut in half in 2020",
    "gold": "[Cause] a lack of travel demand from the pandemic [Relation] cause [Effect] Global revenue passenger kilometers have roughly been cut in half in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Mattel has historically generated ROICs above our weighted average cost of capital assumption (8%), and we believe it could continue to produce compelling ROICs as it redevelops brand enthusiasm.",
    "output": "[Cause] it redevelops brand enthusiasm [Relation] enable [Effect] it could continue to produce compelling ROICs",
    "gold": "[Cause] it redevelops brand enthusiasm [Relation] enable [Effect] it could continue to produce compelling ROICs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We model 23% revenue growth in fiscal 2021, up significantly from our prior projection of 18%, as 5G RF content gains within wireless infrastructure equipment and smartphones will be more than offset by slower smartphone unit sales associated with the COVID-19 pandemic.",
    "output": "[Cause] 5G RF content gains within wireless infrastructure equipment and smartphones will be more than offset by slower smartphone unit sales associated with the COVID-19 pandemic [Relation] cause [Effect] 23% revenue growth in fiscal 2021, up significantly from our prior projection of 18%",
    "gold": "[Cause] 5G RF content gains within wireless infrastructure equipment and smartphones will be more than offset by slower smartphone unit sales associated with the COVID-19 pandemic [Relation] cause [Effect] 23% revenue growth in fiscal 2021, up significantly from our prior projection of 18%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company must also abide by worldwide privacy, anti-bribery and corruption regulations, so as to minimise future reputational damage as well as regulatory and legal penalties.",
    "output": "[Cause] The company must also abide by worldwide privacy, anti-bribery and corruption regulations [Relation] enable [Effect] minimise future reputational damage as well as regulatory and legal penalties",
    "gold": "[Cause] The company must also abide by worldwide privacy, anti-bribery and corruption regulations [Relation] prevent [Effect] minimise future reputational damage as well as regulatory and legal penalties",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate that the company will continue to offer more generous reward offers to its cardholders in order to remain competitive. This will place downward pressure on its noninterest income as the company nets its discount revenue with its cardmember reward expenses.",
    "output": "[Cause] the company will continue to offer more generous reward offers to its cardholders in order to remain competitive [Relation] cause [Effect] place downward pressure on its noninterest income as the company nets its discount revenue with its cardmember reward expenses",
    "gold": "[Cause]  the company will continue to offer more generous reward offers to its cardholders in order to remain competitive [Relation] cause [Effect] place downward pressure on its noninterest income as the company nets its discount revenue with its cardmember reward expenses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have increased our uncertainty rating for Cantel to high from medium to reflect the firm's relatively high debt load and potential credit crunch during the COVID-19 pandemic.",
    "output": "[Cause] the firm's relatively high debt load and potential credit crunch during the COVID-19 pandemic [Relation] cause [Effect] We have increased our uncertainty rating for Cantel to high from medium",
    "gold": "[Cause] medium to reflect the firm's relatively high debt load and potential credit crunch [Relation] cause [Effect] increased our uncertainty rating for Cantel to high",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect downside in margins in missiles and fire control, and rotary and mission systems, as the company takes on lower-margin cost-plus development contracts.",
    "output": "[Cause] the company takes on lower-margin cost-plus development contracts [Relation] cause [Effect] downside in margins in missiles and fire control, and rotary and mission systems",
    "gold": "[Cause] the company takes on lower-margin cost-plus development contracts [Relation] cause [Effect] downside in margins in missiles and fire control, and rotary and mission systems",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite a banner fiscal 2020 (that included 7% organic sales growth and 110 basis points of adjusted operating margin improvement to 16.7%), we don't think this pronounced sales acceleration (prompted by increased at-home food consumption due to concerns over COVID-19) will persist over an extended horizon.",
    "output": "[Cause] concerns over COVID-19 [Relation] cause [Effect] increased at-home food consumption",
    "gold": "[Cause] concerns over COVID-19 [Relation] cause [Effect]  increased at-home food consumption",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's exposure to industrial end markets leads to some cyclicality within its revenue stream; FEI's semiconductor business in particular could be severely affected if the industry's spending, at peak of the cycle, declines.",
    "output": "[Cause] The firm's exposure to industrial end markets [Relation] cause [Effect] some cyclicality within its revenue stream",
    "gold": "[Cause] The firm's exposure to industrial end markets [Relation] cause [Effect] some cyclicality within its revenue stream",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Terex has expanded its MP product line, it has captured a larger global market share of the industry, allowing it to gain greater insight into customer demand.",
    "output": "[Cause] Terex has expanded its MP product line [Relation] enable [Effect] it has captured a larger global market share of the industry",
    "gold": "[Cause]  Terex has expanded its MP product line [Relation] cause [Effect] it has captured a larger global market share of the industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Terex has expanded its MP product line, it has captured a larger global market share of the industry, allowing it to gain greater insight into customer demand.",
    "output": "[Cause] Terex has expanded its MP product line [Relation] enable [Effect] it has captured a larger global market share of the industry",
    "gold": "[Cause]  Terex has expanded its MP product line [Relation] enable [Effect] gain greater insight into customer demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As the virus subsides and the economy recovers, we believe favorable demographics coupled with the realization of pent-up demand will drive continued housing market strength over the next decade.",
    "output": "[Cause] favorable demographics coupled with the realization of pent-up demand [Relation] enable [Effect] continued housing market strength over the next decade",
    "gold": "[Cause] favorable demographics coupled with the realization of pent-up demand [Relation] enable [Effect]  continued housing market strength over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, Livent is planning to make large investments to increase both its carbonate and hydroxide production capacity, which brings execution risk and could result in cost overruns.",
    "output": "[Cause] Livent is planning to make large investments [Relation] enable [Effect] increase both its carbonate and hydroxide production capacity",
    "gold": "[Cause] Livent is planning to make large investments [Relation] enable [Effect] increase both its carbonate and hydroxide production capacity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a diversified industrial company, Fortive is exposed to the overall health of the global economy, including a potential slowdown in industrial production and GDP growth.",
    "output": "[Cause] diversified industrial company [Relation] cause [Effect] Fortive is exposed to the overall health of the global economy, including a potential slowdown in industrial production and GDP growth",
    "gold": "[Cause] the overall health of the global economy [Relation] cause [Effect] including a potential slowdown in industrial production and GDP growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect decent growth for the aftermarket business going forward, as many of the engines produced to meet emission standards over the past decade are reaching the overhaul stage of their operating life.",
    "output": "[Cause] many of the engines produced to meet emission standards over the past decade are reaching the overhaul stage of their operating life [Relation] cause [Effect] decent growth for the aftermarket business going forward",
    "gold": "[Cause] many of the engines produced to meet emission standards over the past decade are reaching the overhaul stage of their operating life [Relation] cause [Effect]  decent growth for the aftermarket business going forward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to the risks a software switch entails in mission critical functions, we think there's much inertia in remaining a ''''''''Catia shop.'''''''' We do not think Catia exhibits a strong network effect given that the CAD software is more specialized than the average product design and product lifecycle offerings.",
    "output": "[Cause] the risks a software switch entails in mission critical functions [Relation] cause [Effect] there's much inertia in remaining a '''''''''Catia shop",
    "gold": "[Cause] the risks a software switch entails in mission critical functions [Relation] cause [Effect]  there's much inertia in remaining a ''''''''Catia shop",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Due to the risks a software switch entails in mission critical functions, we think there's much inertia in remaining a ''''''''Catia shop.'''''''' We do not think Catia exhibits a strong network effect given that the CAD software is more specialized than the average product design and product lifecycle offerings.",
    "output": "[Cause] the risks a software switch entails in mission critical functions [Relation] cause [Effect] there's much inertia in remaining a ''''''''Catia shop",
    "gold": "[Cause] the CAD software is more specialized than the average product design and product lifecycle offerings [Relation] cause [Effect] Catia | not  | exhibits a strong network effect",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the investment required in implementing the platform, a customer would be less inclined to shift vendors, giving rise to switching costs.",
    "output": "[Cause] the investment required in implementing the platform [Relation] cause [Effect] a customer would be less inclined to shift vendors",
    "gold": "[Cause] the investment required in implementing the platform [Relation] cause [Effect] a customer would be less inclined to shift vendors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the investment required in implementing the platform, a customer would be less inclined to shift vendors, giving rise to switching costs.",
    "output": "[Cause] a customer would be less inclined to shift vendors [Relation] cause [Effect] switching costs",
    "gold": "[Cause] a customer would be less inclined to shift vendors [Relation] cause [Effect]  switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As lower capital demands persist ahead--from a smaller DC footprint and a sale-leaseback strategy across the real estate platform--the operating strategy is set to deliver average returns on invested capital, excluding goodwill in the low 30% range over our forecast.",
    "output": "[Cause] lower capital demands persist ahead [Relation] cause [Effect] the operating strategy is set to deliver average returns on invested capital",
    "gold": "[Cause] a smaller DC footprint and a sale-leaseback strategy across the real estate platform [Relation] cause [Effect]  lower capital demands persist ahead",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As lower capital demands persist ahead--from a smaller DC footprint and a sale-leaseback strategy across the real estate platform--the operating strategy is set to deliver average returns on invested capital, excluding goodwill in the low 30% range over our forecast.",
    "output": "[Cause] lower capital demands persist ahead [Relation] cause [Effect] the operating strategy is set to deliver average returns on invested capital",
    "gold": "[Cause]  lower capital demands persist ahead [Relation] cause [Effect] the operating strategy is set to deliver average returns on invested capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "HollyFrontier also has a crude advantage, thanks to the complexity of its refineries and their proximity to cost-advantaged feedstock from Canada.",
    "output": "[Cause] the complexity of its refineries and their proximity to cost-advantaged feedstock from Canada [Relation] cause [Effect] HollyFrontier also has a crude advantage",
    "gold": "[Cause] [Relation] cause [Effect]  the complexity of its refineries and their proximity to cost-advantaged feedstock from Canada |  a crude advantage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This happened to UBS' asset management unit after the 2008 crisis, when it lost 17% of its assets under management due to concerns over the health of the bank.",
    "output": "[Cause] concerns over the health of the bank [Relation] cause [Effect] it lost 17% of its assets under management",
    "gold": "[Cause] concerns over the health of the bank [Relation] cause [Effect] it lost 17% of its assets under management",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think patent protection on newer HIV regimens and Gilead's continued dominance in the hepatitis C market will be enough to ensure strong returns for the next couple of decades.",
    "output": "[Cause] Gilead's continued dominance in the hepatitis C market [Relation] enable [Effect] ensure strong returns for the next couple of decades",
    "gold": "[Cause] Gilead's continued dominance in the hepatitis C market [Relation] enable [Effect] ensure strong returns for the next couple of decades",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The ability to achieve even a portion of these gains would have an enormous impact when extrapolated across a company's entire call center operation.",
    "output": "[Cause] extrapolated across a company's entire call center operation [Relation] enable [Effect] The ability to achieve even a portion of these gains would have an enormous impact",
    "gold": "[Cause] achieve even a portion of these gains [Relation] enable [Effect] have an enormous impact",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The terms of the triple-net lease make the tenant responsible for the property's operating expenses, real estates taxes, maintenance, and insurance in addition to paying Realty Income rent.",
    "output": "[Cause] The terms of the triple-net lease [Relation] enable [Effect] the tenant responsible for the property's operating expenses, real estates taxes, maintenance, and insurance in addition to paying Realty Income rent",
    "gold": "[Cause] The terms of the triple-net lease [Relation] cause [Effect]  the tenant responsible for the property's operating expenses, real estates taxes, maintenance, and insurance in addition to paying Realty Income rent",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, the government has raised concerns about the adverse impact of gaming on gamers, especially minors--these include health issues such as myopia and addiction.",
    "output": "[Cause] health issues such as myopia and addiction [Relation] cause [Effect] the government has raised concerns about the adverse impact of gaming on gamers, especially minors",
    "gold": "[Cause] health issues such as myopia and addiction [Relation] cause [Effect]  the government has raised concerns about the adverse impact of gaming on gamers, especially minors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For the growth business, which targets less-complex shallow water and onshore work (where Frank's has been historically underrepresented), we expect a strong contribution to the segment's top line, but EBITDA margins to remain a step below the segment's base business, as the competitive pressures here are stronger.",
    "output": "[Cause] the competitive pressures here are stronger [Relation] cause [Effect] EBITDA margins to remain a step below the segment's base business",
    "gold": "[Cause] the competitive pressures here are stronger [Relation] cause [Effect] EBITDA margins to remain a step below the segment's base business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "SunTrust also offers investment management and trust services, and is building out further treasury and payments platforms, which should add to fee income over time.",
    "output": "[Cause] SunTrust also offers investment management and trust services, and is building out further treasury and payments platforms [Relation] enable [Effect] add to fee income over time",
    "gold": "[Cause] over time [Relation] cause [Effect] add to fee income",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the early-stage business, there are fewer barriers to entry and significantly more competition, while the asset-heavy nature of the business weighs on ROICs.",
    "output": "[Cause] the asset-heavy nature of the business weighs on ROICs [Relation] cause [Effect] fewer barriers to entry and significantly more competition",
    "gold": "[Cause] the asset-heavy nature of the business [Relation] cause [Effect] weighs on ROICs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the motion systems subsegment, we think revenue growth will be driven by greater automation needs, particularly given the market's emphasis on productivity gains and eliminating hazardous tasks.",
    "output": "[Cause] greater automation needs [Relation] enable [Effect] revenue growth",
    "gold": "[Cause] greater automation needs [Relation] cause [Effect] revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the motion systems subsegment, we think revenue growth will be driven by greater automation needs, particularly given the market's emphasis on productivity gains and eliminating hazardous tasks.",
    "output": "[Cause] greater automation needs [Relation] enable [Effect] revenue growth",
    "gold": "[Cause] the market's emphasis on productivity gains and eliminating hazardous tasks [Relation] cause [Effect] revenue growth will be driven by greater automation needs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To effectively reprocess an endoscope, specific high-level disinfectants (HLDs) are required, and Cantel's proprietary Rapicide disinfectant is the only chemistry product compatible with Cantel's single-use AERs.",
    "output": "[Cause] specific high-level disinfectants (HLDs) are required [Relation] enable [Effect] effectively reprocess an endoscope",
    "gold": "[Cause] specific high-level disinfectants (HLDs) are required [Relation] enable [Effect] effectively reprocess an endoscope",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the increased scale, ON Semiconductor can spread the research and manufacturing costs across a larger, more diverse customer base, enabling it to generate excess returns.",
    "output": "[Cause] the increased scale [Relation] enable [Effect] ON Semiconductor can spread the research and manufacturing costs across a larger, more diverse customer base",
    "gold": "[Cause]  the increased scale [Relation] enable [Effect] ON Semiconductor can spread the research and manufacturing costs across a larger, more diverse customer base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We model operating margin expansion due to recent proactive measures the company has taken to rebuild shareholder trust after the Fujifilm merger fell through (under Project Own It).",
    "output": "[Cause] recent proactive measures the company has taken to rebuild shareholder trust [Relation] cause [Effect] operating margin expansion",
    "gold": "[Cause] the Fujifilm merger fell through (under Project Own It) [Relation] cause [Effect] recent proactive measures the company has taken to rebuild shareholder trust",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The risk of wide swings in profit related to changing feedstock costs is softened by the company's upstream oil and gas activities, which provide a hedge.",
    "output": "[Cause] the company's upstream oil and gas activities [Relation] enable [Effect] provide a hedge",
    "gold": "[Cause] provide a hedge [Relation] enable [Effect] The risk of wide swings in profit related to changing feedstock costs is softened by the company's upstream oil and gas activities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the shorter term, we forecast that Heineken returns to pre-COVID-19 revenue levels in 2023, in line with guidance, and implying a gradual recovery of the on trade.",
    "output": "[Cause] a gradual recovery of the on trade [Relation] cause [Effect] Heineken returns to pre-COVID-19 revenue levels in 2023",
    "gold": "[Cause]  a gradual recovery of the on trade [Relation] cause [Effect] Heineken returns to pre-COVID-19 revenue levels in 2023",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Seating would also be negatively affected from a surge in commodity prices, especially for steel, aluminum, chemicals for foam, and oil prices due to the use of resin.",
    "output": "[Cause] the use of resin [Relation] cause [Effect] Seating would also be negatively affected from a surge in commodity prices",
    "gold": "[Cause] a surge in commodity prices [Relation] cause [Effect] Seating would also be negatively affected",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Following Ferguson's release of its fiscal first-half 2021 results, we've raised our fair value estimate for Ferguson's London-listed shares to GBX 7,500 per share from GBX 7,200 due to our more optimistic long-run return on new invested capital assumption.",
    "output": "[Cause] our more optimistic long-run return on new invested capital assumption [Relation] cause [Effect] we've raised our fair value estimate for Ferguson's London-listed shares to GBX 7,500 per share from GBX 7,200",
    "gold": "[Cause] our more optimistic long-run return on new invested capital assumption [Relation] cause [Effect]  we've raised our fair value estimate for Ferguson's London-listed shares to GBX 7,500 per share from GBX 7,200",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the firm introducing new technology and aiming to become even more efficient, we believe margins could improve further, which bolsters our confidence in Baxter's ability to generate economic profits in the long run.",
    "output": "[Cause] the firm introducing new technology and aiming to become even more efficient [Relation] cause [Effect] margins could improve further",
    "gold": "[Cause] the firm introducing new technology and aiming to become even more efficient [Relation] enable [Effect] margins could improve further",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2018, Myanmar allowed a fourth wireless entrant, bringing increased competition and causing Telenor to lose subscribers and see reduced average revenue per user and margins in the country.",
    "output": "[Cause] Myanmar allowed a fourth wireless entrant [Relation] cause [Effect] increased competition and causing Telenor to lose subscribers and see reduced average revenue per user and margins in the country",
    "gold": "[Cause] Myanmar allowed a fourth wireless entrant [Relation] cause [Effect]  bringing increased competition",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "At the time, integrated oils, including Shell, had made significant headway in reducing 2 Jun 2021 05:00, UTCoperating costs in their existing production base and capital intensity of new projects so we forecast they could earn adequate excess returns at our midcycle price assumption of $60/bbl.",
    "output": "[Cause] integrated oils, including Shell, had made significant headway in reducing 2 Jun 2021 05:00, UTCoperating costs in their existing production base and capital intensity of new projects [Relation] cause [Effect] they could earn adequate excess returns at our midcycle price assumption of $60/bbl",
    "gold": "[Cause] integrated oils, including Shell, had made significant headway in reducing 2 Jun 2021 05:00, UTCoperating costs in their existing production base and capital intensity of new projects [Relation] cause [Effect] they could earn adequate excess returns at our midcycle price assumption of $60/bbl",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Prospects are murkier at Family Dollar, which has struggled since its acquisition, though the pandemic has provided a fleeting sales lift.",
    "output": "[Cause] the pandemic [Relation] enable [Effect] provided a fleeting sales lift",
    "gold": "[Cause]  the pandemic has provided a fleeting sales lift [Relation] cause [Effect] Prospects are murkier at Family Dollar, which has struggled since its acquisition",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company may face large claims experience because of poor underwriting or factors like underpriced claims inflation, and the specialty nature of its lines creates potential for unforeseen claims to arise.",
    "output": "[Cause] poor underwriting or factors like underpriced claims inflation [Relation] cause [Effect] The company may face large claims experience",
    "gold": "[Cause] poor underwriting or factors like underpriced claims inflation [Relation] cause [Effect] The company may face large claims experience",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Steel operates in a very competitive industry and is a price-taker because of the commoditized nature of its major product categories and the threat of low-priced steel imports.",
    "output": "[Cause] the commoditized nature of its major product categories and the threat of low-priced steel imports [Relation] cause [Effect] Steel operates in a very competitive industry and is a price-taker",
    "gold": "[Cause] the commoditized nature of its major product categories and the threat of low-priced steel imports [Relation] cause [Effect] Steel operates in a very competitive industry and is a price-taker",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, a delay or disruption of any one project remains manageable and is unlikely to materially affect the value of Petrobras.",
    "output": "[Cause] a delay or disruption of any one project remains manageable [Relation] prevent [Effect] materially affect the value of Petrobras",
    "gold": "[Cause] a delay or disruption of any one project remains manageable [Relation] prevent [Effect] materially affect the value of Petrobras",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that the company's competitive position has evidently improved since the acquisition of LoopNet, we think there is a minor risk that antitrust concerns flare up again.",
    "output": "[Cause] the company's competitive position has evidently improved since the acquisition of LoopNet [Relation] cause [Effect] there is a minor risk that antitrust concerns flare up again",
    "gold": "[Cause] the company's competitive position has evidently improved since the acquisition of LoopNet [Relation] cause [Effect] there is a minor risk that antitrust concerns flare up again",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "High uncertainty surrounds Centene's cash flows related primarily to the firm's razor-thin margins, contract concentration risk, and potential policy changes after Democrats swept the federal electable bodies in the 2020 election.",
    "output": "[Cause] the firm's razor-thin margins, contract concentration risk, and potential policy changes after Democrats swept the federal electable bodies in the 2020 election [Relation] cause [Effect] High uncertainty surrounds Centene's cash flows",
    "gold": "[Cause]  the firm's razor-thin margins, contract concentration risk, and potential policy changes after Democrats swept the federal electable bodies in the 2020 election [Relation] cause [Effect] High uncertainty surrounds Centene's cash flows",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Following the breach, Equifax has invested heavily in cybersecurity ($292 million in 2019) and incurred significant legal and product liability costs.",
    "output": "[Cause] Equifax has invested heavily in cybersecurity [Relation] cause [Effect] significant legal and product liability costs",
    "gold": "[Cause] Equifax has invested heavily in cybersecurity [Relation] cause [Effect] significant legal and product liability costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Underpinning this growth are the secular trends toward over-the-top viewing for live and on-demand content and the relentless growth in consumption of filmed content.",
    "output": "[Cause] the secular trends toward over-the-top viewing for live and on-demand content and the relentless growth in consumption of filmed content [Relation] cause [Effect] Underpinning this growth",
    "gold": "[Cause] the secular trends toward over-the-top viewing for live and on-demand content and the relentless growth in consumption of filmed content [Relation] cause [Effect] Underpinning this growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the capital costs of a single production line in excess of $70 million and relatively slim per-can margins, new facilities with low utilization rates would be immediately unprofitable and unable to remain in business.",
    "output": "[Cause] the capital costs of a single production line in excess of $70 million and relatively slim per-can margins [Relation] cause [Effect] new facilities with low utilization rates would be immediately unprofitable and unable to remain in business",
    "gold": "[Cause] a single production line in excess of $70 million and relatively slim per-can margins, new facilities with low utilization rates [Relation] cause [Effect] immediately unprofitable and unable to remain in business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our forecast assumes a net inflationary top-line growth with the continued integration of services, anticipated decline in postage, and nature of the medical claims business.",
    "output": "[Cause] a net inflationary top-line growth with the continued integration of services, anticipated decline in postage, and nature of the medical claims business [Relation] cause [Effect] Our forecast assumes",
    "gold": "[Cause] a net inflationary top-line growth with the continued integration of services [Relation] enable [Effect]  decline in postage, and nature of the medical claims business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given that divestitures were required in regions where the combined entity's market share would be uncomfortably high, the Ball-Rexam tie-up hasn't meaningfully changed regional market concentrations.",
    "output": "[Cause] divestitures were required in regions where the combined entity's market share would be uncomfortably high [Relation] cause [Effect] the Ball-Rexam tie-up hasn't meaningfully changed regional market concentrations",
    "gold": "[Cause] divestitures were required in regions where the combined entity's market share would be uncomfortably high [Relation] enable [Effect] the Ball-Rexam tie-up hasn't meaningfully changed regional market concentrations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, given the complexity associated with Internet services and software, Verisign faces competition for scarce skilled labor in the space.",
    "output": "[Cause] the complexity associated with Internet services and software [Relation] cause [Effect] Verisign faces competition for scarce skilled labor in the space",
    "gold": "[Cause] the complexity associated with Internet services and software [Relation] cause [Effect] Verisign faces competition for scarce skilled labor in the space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As universities shift from traditional textbooks, there is the danger that they may broaden their horizons to digital learning products provided by companies outside the traditional oligopoly in educational publishing.",
    "output": "[Cause] universities shift from traditional textbooks [Relation] cause [Effect] there is the danger that they may broaden their horizons to digital learning products provided by companies outside the traditional oligopoly in educational publishing",
    "gold": "[Cause] universities shift from traditional textbooks [Relation] cause [Effect]  there is the danger that they may broaden their horizons to digital learning products provided by companies outside the traditional oligopoly in educational publishing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While these niche solutions may be growth catalysts for Xerox--we think even these slow-moving industries will eventually become largely digital, significantly deteriorating the market for these solutions.",
    "output": "[Cause] these slow-moving industries will eventually become largely digital [Relation] cause [Effect] significantly deteriorating the market for these solutions",
    "gold": "[Cause]  these slow-moving industries will eventually become largely digital [Relation] cause [Effect] significantly deteriorating the market for these solutions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Brazil also has a history of political instability, including the impeachment of ex-President Dilma Rouseff and arrests of two other ex-Presidents, Lula da xxx and Michel Themer.",
    "output": "[Cause] the impeachment of ex-President Dilma Rouseff and arrests of two other ex-Presidents, Lula da xxx and Michel Themer [Relation] cause [Effect] Brazil also has a history of political instability",
    "gold": "[Cause] the impeachment of ex-President Dilma Rouseff and arrests of two other ex-Presidents, Lula da xxx and Michel Themer [Relation] cause [Effect] Brazil also has a history of political instability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our fair value uncertainty rating for Snap is very high, based upon uncertainty around the company's ability to capture digital advertising dollars in the online advertising space, which is virtually Snap's sole source of revenue today.",
    "output": "[Cause] uncertainty around the company's ability to capture digital advertising dollars in the online advertising space [Relation] cause [Effect] Our fair value uncertainty rating for Snap is very high",
    "gold": "[Cause] uncertainty around the company's ability to capture digital advertising dollars in the online advertising space [Relation] cause [Effect] Our fair value uncertainty rating for Snap is very high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a part of the process, Redfin must hold unsold homes as inventory, which would represent a significant risk should the pace of home sales slow in a downturn.",
    "output": "[Cause] the pace of home sales slow in a downturn [Relation] cause [Effect] a significant risk",
    "gold": "[Cause] the pace of home sales slow in a downturn [Relation] cause [Effect]  a significant risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do not see Paylocity having a clear leadership position given the fragmented nature of the market, as a result of which the firm must consistently make a high degree of investments into its platform to capture and retain customers.",
    "output": "[Cause] the fragmented nature of the market [Relation] cause [Effect] We do not see Paylocity having a clear leadership position",
    "gold": "[Cause]  the fragmented nature of the market [Relation] cause [Effect] We do not see Paylocity having a clear leadership position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do not see Paylocity having a clear leadership position given the fragmented nature of the market, as a result of which the firm must consistently make a high degree of investments into its platform to capture and retain customers.",
    "output": "[Cause] the fragmented nature of the market [Relation] cause [Effect] the firm must consistently make a high degree of investments into its platform to capture and retain customers",
    "gold": "[Cause] We do not see Paylocity having a clear leadership position [Relation] cause [Effect]  the firm must consistently make a high degree of investments into its platform to capture and retain customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we believe that the OMO business will also serve as one of the key drivers in the near term, as TAL can leverage its existing students at a lower acquisition cost.  Thus, we also expect a five-year average gross margin of 54.7% from fiscal 2020 to fiscal 2025 from 55.1% in fiscal 2020, due to improving utilization with increasing student demand and average selling price hikes.",
    "output": "[Cause] improving utilization with increasing student demand and average selling price hikes [Relation] cause [Effect] a five-year average gross margin of 54.7% from fiscal 2020 to fiscal 2025 from 55.1% in fiscal 2020",
    "gold": "[Cause]  the OMO business will also serve as one of the key drivers in the near term, as TAL can leverage its existing students at a lower acquisition cost [Relation] cause [Effect]  a five-year average gross margin of 54.7% from fiscal 2020 to fiscal 2025 from 55.1% in fiscal 2020, due to improving utilization with increasing student demand and average selling price hikes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Even though the company serves a diverse and fragmented market, the semiconductor industry is notoriously cyclical, and Microchip's sales levels tend to ebb and flow with the chip industry and the overall global economy.",
    "output": "[Cause] the semiconductor industry is notoriously cyclical [Relation] cause [Effect] Microchip's sales levels tend to ebb and flow with the chip industry and the overall global economy",
    "gold": "[Cause]  the chip industry and the overall global economy [Relation] cause [Effect] Microchip's sales levels tend to ebb and flow",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, given the mission criticality of Coupa's platform within different operational areas, the business would have to run Coupa's software parallel to the new vendor's as data migrates over, leading to high monetary costs as well.",
    "output": "[Cause] the mission criticality of Coupa's platform within different operational areas [Relation] cause [Effect] the business would have to run Coupa's software parallel to the new vendor's as data migrates over",
    "gold": "[Cause] the mission criticality of Coupa's platform within different operational areas [Relation] cause [Effect] the business would have to run Coupa's software parallel to the new vendor's as data migrates over",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, given the mission criticality of Coupa's platform within different operational areas, the business would have to run Coupa's software parallel to the new vendor's as data migrates over, leading to high monetary costs as well.",
    "output": "[Cause] the mission criticality of Coupa's platform within different operational areas [Relation] cause [Effect] high monetary costs as well",
    "gold": "[Cause] the business would have to run Coupa's software parallel to the new vendor's as data migrates over [Relation] cause [Effect]  high monetary costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Products are often tailor-made to the client's needs, it is therefore virtually impossible for a client to easily compare pricing between different providers.",
    "output": "[Cause] Products are often tailor-made to the client's needs [Relation] cause [Effect] virtually impossible for a client to easily compare pricing between different providers",
    "gold": "[Cause] client to easily compare pricing between different providers [Relation] cause [Effect] Products are often tailor-made to the client's needs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think ITW's emphasis on customer-backed innovation should allow it to gain decent market share from competitors, particularly on the strength of its differentiated offerings.",
    "output": "[Cause] ITW's emphasis on customer-backed innovation [Relation] enable [Effect] it to gain decent market share from competitors",
    "gold": "[Cause] on the strength of its differentiated offerings [Relation] enable [Effect] ITW's emphasis on customer-backed innovation should allow it to gain decent market share from competitors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Alliance Data Systems has stated that it has rebuilt much of the capabilities held at those businesses and that the services provided to its partners will not be impacted by the asset sales.",
    "output": "[Cause] it has rebuilt much of the capabilities held at those businesses [Relation] cause [Effect] the services provided to its partners will not be impacted by the asset sales",
    "gold": "[Cause]  it has rebuilt much of the capabilities held at those businesses [Relation] cause [Effect]  the services provided to its partners will not be impacted by the asset sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Still, the firm's net debt was more 3.7 EBITDA at the end of 2019, leaving it vulnerable to a spike in borrowing costs, an inability to roll over its debt, or a greater downturn in its business.",
    "output": "[Cause] the firm's net debt was more 3.7 EBITDA at the end of 2019 [Relation] cause [Effect] vulnerable to a spike in borrowing costs, an inability to roll over its debt, or a greater downturn in its business",
    "gold": "[Cause] the firm's net debt was more 3.7 EBITDA at the end of 2019 [Relation] cause [Effect] vulnerable to a spike in borrowing costs, an inability to roll over its debt, or a greater downturn in its business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After the launch of new drugs, penetration is temporarily boosted by heavy discounting, and Bausch slowly takes up price once the drugs become established in the market.",
    "output": "[Cause] the drugs become established in the market [Relation] cause [Effect] Bausch slowly takes up price",
    "gold": "[Cause]  the drugs become established in the market [Relation] enable [Effect] Bausch slowly takes up price",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Autoliv's consistent technology innovation enables favorable pricing relative to many automotive industry suppliers, increasing the company's dollar content per vehicle.",
    "output": "[Cause] Autoliv's consistent technology innovation [Relation] enable [Effect] favorable pricing relative to many automotive industry suppliers",
    "gold": "[Cause] Autoliv's consistent technology innovation [Relation] enable [Effect] favorable pricing relative to many automotive industry suppliers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Autoliv's consistent technology innovation enables favorable pricing relative to many automotive industry suppliers, increasing the company's dollar content per vehicle.",
    "output": "[Cause] favorable pricing relative to many automotive industry suppliers [Relation] enable [Effect] increasing the company's dollar content per vehicle",
    "gold": "[Cause] favorable pricing relative to many automotive industry suppliers [Relation] cause [Effect] increasing the company's dollar content per vehicle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Like essentially all oilfield-services companies, National Oilwell Varco would be vulnerable to an economic or technological shock that reduced the long-term growth in oil and gas demand.",
    "output": "[Cause] National Oilwell Varco would be vulnerable to an economic or technological shock [Relation] cause [Effect] reduced the long-term growth in oil and gas demand",
    "gold": "[Cause] National Oilwell Varco would be vulnerable to an economic or technological shock [Relation] cause [Effect] reduced the long-term growth in oil and gas demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have not modeled significant change in our 10-year average gross margins, as we believe Omnicom's efficiencies in talent management (either per account or per project) will offset growth in compensation and the slightly lower long-term digital ad margins.",
    "output": "[Cause] Omnicom's efficiencies in talent management (either per account or per project) will offset growth in compensation and the slightly lower long-term digital ad margins [Relation] cause [Effect] We have not modeled significant change in our 10-year average gross margins",
    "gold": "[Cause] Omnicom's efficiencies in talent management [Relation] cause [Effect] offset growth in compensation and the slightly lower long-term digital ad margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Unsurprisingly, Primo's strategy has radically evolved over the years—it now uses a conventional razor/blade business model, where it seeks to increase penetration of its water-dispensing appliances to facilitate recurring sales of higher-margin water bottles.",
    "output": "[Cause] it now uses a conventional razor/blade business model [Relation] enable [Effect] increase penetration of its water-dispensing appliances to facilitate recurring sales of higher-margin water bottles",
    "gold": "[Cause] it now uses a conventional razor/blade business model [Relation] cause [Effect] Primo's strategy has radically evolved over the years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Following an expected 1% sales decline in fiscal 2021 due to softness related to the COVID-19 pandemic, we expect mid-single digit top line growth for the firm's HDD business.",
    "output": "[Cause] softness related to the COVID-19 pandemic [Relation] cause [Effect] Following an expected 1% sales decline in fiscal 2021",
    "gold": "[Cause] softness related to the COVID-19 pandemic [Relation] cause [Effect] Following an expected 1% sales decline in fiscal 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Following an expected 1% sales decline in fiscal 2021 due to softness related to the COVID-19 pandemic, we expect mid-single digit top line growth for the firm's HDD business.",
    "output": "[Cause] softness related to the COVID-19 pandemic [Relation] cause [Effect] Following an expected 1% sales decline in fiscal 2021",
    "gold": "[Cause] Following an expected 1% sales decline in fiscal 2021 [Relation] enable [Effect] mid-single digit top line growth for the firm's HDD business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Kohl's does not plan another large round of store closures at present, but we think it may have to do so if sales remain stagnant or worse.",
    "output": "[Cause] sales remain stagnant or worse [Relation] cause [Effect] it may have to do so",
    "gold": "[Cause] sales remain stagnant or worse [Relation] cause [Effect] it may have to do so",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The shift toward electronic payments has aided Visa's growth historically, and we expect that to continue for the foreseeable future.",
    "output": "[Cause] The shift toward electronic payments [Relation] enable [Effect] aided Visa's growth historically",
    "gold": "[Cause] The shift toward electronic payments [Relation] enable [Effect]  aided Visa's growth historically",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, an investment bank is much more capital-hungry than a pure private bank and introduces added risks that may detract from a bank's reputation for solidity.",
    "output": "[Cause] an investment bank is much more capital-hungry than a pure private bank and introduces added risks [Relation] cause [Effect] detract from a bank's reputation for solidity",
    "gold": "[Cause]  an investment bank is much more capital-hungry than a pure private bank and introduces added risks [Relation] cause [Effect] detract from a bank's reputation for solidity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think banks with relatively low deposit market share are disadvantaged from a cost perspective because of the fixed-cost investment required to maintain a network of branches and offices.",
    "output": "[Cause] the fixed-cost investment required to maintain a network of branches and offices [Relation] cause [Effect] banks with relatively low deposit market share are disadvantaged from a cost perspective",
    "gold": "[Cause] the fixed-cost investment required to maintain a network of branches and offices [Relation] cause [Effect]  banks with relatively low deposit market share are disadvantaged from a cost perspective",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over and above underlying shipment demand trends, market share gains will probably remain the key growth driver for Robinson.",
    "output": "[Cause] Over and above underlying shipment demand trends [Relation] cause [Effect] market share gains will probably remain the key growth driver for Robinson",
    "gold": "[Cause] market share gains [Relation] enable [Effect] the key growth driver for Robinson",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Going further, the downside grows exponentially if data center and commercial customers have high adoption rates of hyperscale cloud offerings and bypass Cisco's hybrid cloud offerings.",
    "output": "[Cause] data center and commercial customers have high adoption rates of hyperscale cloud offerings and bypass Cisco's hybrid cloud offerings [Relation] cause [Effect] the downside grows exponentially",
    "gold": "[Cause]  data center and commercial customers have high adoption rates of hyperscale cloud offerings and bypass Cisco's hybrid cloud offerings [Relation] cause [Effect] the downside grows exponentially",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Norwegian was already facing pricing headwinds in 2020, lapping Cuban itineraries, and the inaugural season of Encore, when the global spread of COVID-19 exacerbated its plight. As a result, 2020 has been even more difficult to navigate than past recessions, with capacity down nearly 100% over the final three quarters of 2020, by our estimate.",
    "output": "[Cause] Norwegian was already facing pricing headwinds in 2020, lapping Cuban itineraries, and the inaugural season of Encore, when the global spread of COVID-19 exacerbated its plight [Relation] cause [Effect] 2020 has been even more difficult to navigate than past recessions, with capacity down nearly 100% over the final three quarters of 2020, by our estimate",
    "gold": "[Cause] Norwegian was already facing pricing headwinds in 2020, lapping Cuban itineraries, and the inaugural season of Encore, when the global spread of COVID-19 exacerbated its plight [Relation] cause [Effect] 2020 has been even more difficult to navigate than past recessions, with capacity down nearly 100% over the final three quarters of 2020, by our estimate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the new strategy is beneficial as it reduces emerging market macroeconomic and currency risks, improves efficiency of operations and provides deleveraging opportunities.",
    "output": "[Cause] it reduces emerging market macroeconomic and currency risks, improves efficiency of operations and provides deleveraging opportunities [Relation] cause [Effect] the new strategy is beneficial",
    "gold": "[Cause]  it reduces emerging market macroeconomic and currency risks, improves efficiency of operations and provides deleveraging opportunities [Relation] enable [Effect] the new strategy is beneficial",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although management could not avoid the impact of operating in hard-hit economies, a generally increasing appetite for risk compounded the bank's problems.",
    "output": "[Cause] a generally increasing appetite for risk [Relation] cause [Effect] compounded the bank's problems",
    "gold": "[Cause] management could not avoid the impact of operating in hard-hit economies [Relation] cause [Effect] a generally increasing appetite for risk compounded the bank's problems",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, Kohl's 2021 guidance was above our prior expectations as it recovers from the pandemic and experiences the full effect of expense cuts.",
    "output": "[Cause] it recovers from the pandemic and experiences the full effect of expense cuts [Relation] cause [Effect] Kohl's 2021 guidance was above our prior expectations",
    "gold": "[Cause]  it recovers from the pandemic and experiences the full effect of expense cuts [Relation] cause [Effect] Kohl's 2021 guidance was above our prior expectations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overlap, or one client working with several CROs, is common. For this reason, PPD can say it worked with every single top-50 biopharma company in the world in 2019, and PPD was also involved in the development of all of 2018's top-10-selling drugs.",
    "output": "[Cause] Overlap, or one client working with several CROs, is common [Relation] cause [Effect] PPD can say it worked with every single top-50 biopharma company in the world in 2019, and PPD was also involved in the development of all of 2018's top-10-selling drugs",
    "gold": "[Cause] Overlap, or one client working with several CROs, is common [Relation] cause [Effect] PPD can say it worked with every single top-50 biopharma company in the world in 2019, and PPD was also involved in the development of all of 2018's top-10-selling drugs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nonetheless, both firms are on similar timelines for 18 TB shipments, and we think market shares will normalize in 2021 and beyond as customers look to dual-source and keep costs down.",
    "output": "[Cause] customers look to dual-source and keep costs down [Relation] cause [Effect] market shares will normalize in 2021 and beyond",
    "gold": "[Cause] customers look to dual-source and keep costs down [Relation] cause [Effect] market shares will normalize in 2021 and beyond",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, Scotts faces risks related to Roundup, as Scotts markets it under an agreement with Bayer (Monsanto).",
    "output": "[Cause] Scotts markets it under an agreement with Bayer (Monsanto) [Relation] cause [Effect] Scotts faces risks related to Roundup",
    "gold": "[Cause] Scotts markets it under an agreement with Bayer (Monsanto) [Relation] enable [Effect]  Scotts faces risks related to Roundup",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of pent-up demand for space, an apartment manager can charge a higher initial rent and increase it easier once a building reaches fully stabilized occupancy, as a marginal tenant would move out because of rent increases.",
    "output": "[Cause] a marginal tenant would move out because of rent increases [Relation] cause [Effect] increase it easier",
    "gold": "[Cause] a marginal tenant would move out because of rent increases [Relation] enable [Effect]  increase it easier",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As such, we expect gross margins to gradually recover to 12.8% over the next 10 years as the firm improves the profitability of the Eby-Brown business with purchasing synergies, and customer and product mix benefits.",
    "output": "[Cause] the firm improves the profitability of the Eby-Brown business with purchasing synergies, and customer and product mix benefits [Relation] cause [Effect] gross margins to gradually recover to 12.8% over the next 10 years",
    "gold": "[Cause] purchasing synergies, and customer and product mix benefits [Relation] cause [Effect] the firm improves the profitability of the Eby-Brown business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "On the investment side, we assume better fixed-income results over time as the interest rate environment improves, but we expect overall investment returns to moderate as the recent bull market proves unsustainable.",
    "output": "[Cause] the recent bull market proves unsustainable [Relation] cause [Effect] overall investment returns to moderate",
    "gold": "[Cause]  the recent bull market proves unsustainable [Relation] cause [Effect] overall investment returns to moderate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, as NICE offers more new modules on its platform, the firm has the opportunity to cross-sell and upsell products to customers, which should drive higher incremental revenue.",
    "output": "[Cause] NICE offers more new modules on its platform [Relation] cause [Effect] the firm has the opportunity to cross-sell and upsell products to customers",
    "gold": "[Cause]  NICE offers more new modules on its platform [Relation] cause [Effect] the firm has the opportunity to cross-sell and upsell products to customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, as NICE offers more new modules on its platform, the firm has the opportunity to cross-sell and upsell products to customers, which should drive higher incremental revenue.",
    "output": "[Cause] the firm has the opportunity to cross-sell and upsell products to customers [Relation] enable [Effect] drive higher incremental revenue",
    "gold": "[Cause] the firm has the opportunity to cross-sell and upsell products to customers [Relation] enable [Effect]  drive higher incremental revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Turning to Biogen's own MS franchise, Avonex is the leading interferon therapy in MS because of its long-term safety record and relatively convenient once-weekly injections, and Plegridy improves convenience to twice-monthly injections.",
    "output": "[Cause] its long-term safety record and relatively convenient once-weekly injections [Relation] cause [Effect] Avonex is the leading interferon therapy in MS",
    "gold": "[Cause] its long-term safety record and relatively convenient once-weekly injections [Relation] cause [Effect] Avonex is the leading interferon therapy in MS",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe this will force fleet owners to refresh their fleet with more emission-compliant trucks over the next few years, benefiting Paccar.",
    "output": "[Cause] this will force fleet owners to refresh their fleet with more emission-compliant trucks over the next few years [Relation] enable [Effect] benefiting Paccar",
    "gold": "[Cause] this will force fleet owners to refresh their fleet with more emission-compliant trucks over the next few years [Relation] enable [Effect] benefiting Paccar",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The high cost of this network build has produced weak profitability in the fixed-line business, but we expect this asset will be increasingly valuable in serving customers in this densely populated region.",
    "output": "[Cause] The high cost of this network build [Relation] cause [Effect] produced weak profitability in the fixed-line business",
    "gold": "[Cause] this densely populated region [Relation] cause [Effect]  this asset will be increasingly valuable in serving customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Chip designers face ongoing pressure to develop optimal chip designs that satisfy these criteria and keep pace with Moore's Law, which dictates that the performance capability of computers should double approximately every 18 months and the cost of computers should be halved.",
    "output": "[Cause] Chip designers face ongoing pressure to develop optimal chip designs that satisfy these criteria and keep pace with Moore's Law [Relation] cause [Effect] the performance capability of computers should double approximately every 18 months and the cost of computers should be halved",
    "gold": "[Cause] the performance capability of computers should double approximately every 18 months and the cost of computers should be halved [Relation] cause [Effect] Chip designers face ongoing pressure to develop optimal chip designs that satisfy these criteria and keep pace with Moore's Law",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, heightened risk remains and any deterioration in Alliance Data System's business model will be magnified by the firm's leverage.",
    "output": "[Cause] the firm's leverage [Relation] cause [Effect] any deterioration in Alliance Data System's business model will be magnified",
    "gold": "[Cause] heightened risk remains [Relation] cause [Effect] any deterioration in Alliance Data System's business model will be magnified by the firm's leverage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think there are substantial product-complexity-based barriers to entry in this business as the ships produced must be able to withstand adversary attempts to destroy the product, but that the barriers are lower than for nuclear-powered ships.",
    "output": "[Cause] the ships produced must be able to withstand adversary attempts to destroy the product [Relation] cause [Effect] there are substantial product-complexity-based barriers to entry in this business",
    "gold": "[Cause] the ships produced must be able to withstand adversary attempts to destroy the product [Relation] cause [Effect]  there are substantial product-complexity-based barriers to entry in this business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite tougher wireline competition, we project the EBITDA margin to marginally improve in that segment as services become more IP-based.",
    "output": "[Cause] services become more IP-based [Relation] cause [Effect] the EBITDA margin to marginally improve in that segment",
    "gold": "[Cause] services become more IP-based [Relation] cause [Effect] the EBITDA margin to marginally improve in that segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume same-store sales growth stabilizes at around 2% long term, with the chain's focus on delivering low prices resonating with lower-income households and renovations revitalizing stores.",
    "output": "[Cause] same-store sales growth stabilizes at around 2% long term [Relation] cause [Effect] renovations revitalizing stores",
    "gold": "[Cause] the chain's focus on delivering low prices [Relation] enable [Effect] resonating with lower-income households",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We assume same-store sales growth stabilizes at around 2% long term, with the chain's focus on delivering low prices resonating with lower-income households and renovations revitalizing stores.",
    "output": "[Cause] renovations revitalizing stores [Relation] enable [Effect] same-store sales growth stabilizes at around 2% long term",
    "gold": "[Cause] renovations [Relation] enable [Effect] revitalizing stores",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, consolidation among JLL's competitors would also represent a significant risk to the company, since it would change the competitive landscape in which it operates.",
    "output": "[Cause] it would change the competitive landscape in which it operates [Relation] cause [Effect] consolidation among JLL's competitors would also represent a significant risk to the company",
    "gold": "[Cause] it would change the competitive landscape in which it operates [Relation] cause [Effect] consolidation among JLL's competitors would also represent a significant risk to the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Burlington's scale allows it to leverage merchandising, supply chain, and advertising costs over a large base, bolstering profitability despite the chain's low-price approach.",
    "output": "[Cause] Burlington's scale allows it to leverage merchandising, supply chain, and advertising costs over a large base [Relation] enable [Effect] bolstering profitability despite the chain's low-price approach",
    "gold": "[Cause] the chain's low-price approach [Relation] enable [Effect] Burlington's scale allows it to leverage merchandising, supply chain, and advertising costs over a large base, bolstering profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This is witnessed by our estimate for Trip.com's 2020 revenue will decline substantially due to lower travel demand resulting from the COVID-19 outbreak.",
    "output": "[Cause] lower travel demand resulting from the COVID-19 outbreak [Relation] cause [Effect] Trip.com's 2020 revenue will decline substantially",
    "gold": "[Cause] COVID-19 outbreak [Relation] cause [Effect]  lower travel demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As we enter a postpandemic environment in the U.S., we expect ongoing LaCroix flavor innovation, along with more commercial intentionality behind historically underindexed channels like food service, to support strong top- and bottom-line growth.",
    "output": "[Cause] we enter a postpandemic environment in the U.S. [Relation] cause [Effect] ongoing LaCroix flavor innovation",
    "gold": "[Cause] we enter a postpandemic environment in the U.S. [Relation] cause [Effect] ongoing LaCroix flavor innovation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As we enter a postpandemic environment in the U.S., we expect ongoing LaCroix flavor innovation, along with more commercial intentionality behind historically underindexed channels like food service, to support strong top- and bottom-line growth.",
    "output": "[Cause] more commercial intentionality behind historically underindexed channels like food service [Relation] enable [Effect] support strong top- and bottom-line growth",
    "gold": "[Cause]  more commercial intentionality behind historically underindexed channels like food service [Relation] enable [Effect] support strong top- and bottom-line growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the expense front, we expect gradual improvement over time as the firm's scale advantages widen due to increases in fixed technology and regulatory costs across the industry.",
    "output": "[Cause] increases in fixed technology and regulatory costs across the industry [Relation] cause [Effect] the firm's scale advantages widen",
    "gold": "[Cause] increases in fixed technology and regulatory costs across the industry [Relation] cause [Effect] the firm's scale advantages widen",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the expense front, we expect gradual improvement over time as the firm's scale advantages widen due to increases in fixed technology and regulatory costs across the industry.",
    "output": "[Cause] increases in fixed technology and regulatory costs across the industry [Relation] cause [Effect] the firm's scale advantages widen",
    "gold": "[Cause] the firm's scale advantages widen [Relation] cause [Effect] we expect gradual improvement over time",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, leading up to 2023, Corteva plans to transition nearly all soybean seeds to the Enlist platform, which should expand profits as Corteva will not have to pay royalties.",
    "output": "[Cause] Corteva will not have to pay royalties [Relation] cause [Effect] expand profits",
    "gold": "[Cause] Corteva plans to transition nearly all soybean seeds to the Enlist platform [Relation] cause [Effect] expand profits as Corteva will not have to pay royalties",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Similar to aggregates and cement, ready-mixed concrete and asphalt sell for low prices relative to their weight, which results in localized markets.",
    "output": "[Cause] ready-mixed concrete and asphalt sell for low prices relative to their weight [Relation] cause [Effect] localized markets",
    "gold": "[Cause]  ready-mixed concrete and asphalt sell for low prices relative to their weight [Relation] cause [Effect] localized markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With strong margins and little in the way of an asset base, we think Slack will eventually generate solid returns on invested capital, but for now, even free cash flow margins are negative, which is unusual for a SaaS company.",
    "output": "[Cause] strong margins and little in the way of an asset base [Relation] cause [Effect] Slack will eventually generate solid returns on invested capital",
    "gold": "[Cause] strong margins and little in the way of an asset base [Relation] cause [Effect] Slack will eventually generate solid returns on invested capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The emergence of lower-priced competitors remains a key risk to the company's long-term competitive positioning, and we believe future growth hinges on management's ability to innovate, which will increasingly become more expensive in the face of rising competitive pressure.",
    "output": "[Cause] The emergence of lower-priced competitors remains a key risk to the company's long-term competitive positioning [Relation] cause [Effect] future growth hinges on management's ability to innovate, which will increasingly become more expensive in the face of rising competitive pressure",
    "gold": "[Cause] we believe future growth hinges on management's ability to innovate [Relation] cause [Effect] increasingly become more expensive in the face of rising competitive pressure",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As technology advances and new forms of payment are accepted, it is possible that fewer merchants will accept Discover, unless Discover continues to evolve its offerings to keep up with changing technologies.",
    "output": "[Cause] technology advances and new forms of payment are accepted [Relation] cause [Effect] fewer merchants will accept Discover",
    "gold": "[Cause]  technology advances and new forms of payment are accepted [Relation] cause [Effect] fewer merchants will accept Discover",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As technology advances and new forms of payment are accepted, it is possible that fewer merchants will accept Discover, unless Discover continues to evolve its offerings to keep up with changing technologies.",
    "output": "[Cause] Discover continues to evolve its offerings [Relation] enable [Effect] keep up with changing technologies",
    "gold": "[Cause] fewer merchants will accept Discover [Relation] enable [Effect] Discover continues to evolve its offerings to keep up with changing technologies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If electronic substitution takes place more rapidly than anticipated, International Paper could face a steeper decline in revenue and profitability.",
    "output": "[Cause] electronic substitution takes place more rapidly than anticipated [Relation] cause [Effect] International Paper could face a steeper decline in revenue and profitability",
    "gold": "[Cause] electronic substitution takes place more rapidly than anticipated [Relation] enable [Effect] International Paper could face a steeper decline in revenue and profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The app store exhibits network effects as new users would attract new developers to the platform who have greater visibility for their apps, while users would benefit from new developers as they have access to a wider array of apps to augment their data insights.",
    "output": "[Cause] they have access to a wider array of apps to augment their data insights [Relation] cause [Effect] users would benefit from new developers",
    "gold": "[Cause] new users would attract new developers to the platform [Relation] cause [Effect] The app store exhibits network effects",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The app store exhibits network effects as new users would attract new developers to the platform who have greater visibility for their apps, while users would benefit from new developers as they have access to a wider array of apps to augment their data insights.",
    "output": "[Cause] they have access to a wider array of apps to augment their data insights [Relation] cause [Effect] users would benefit from new developers",
    "gold": "[Cause] they have access to a wider array of apps to augment their data insights [Relation] cause [Effect] users would benefit from new developers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The varied product lines also mean Stryker has more opportunities to engineer meaningful innovation, which is critical to gaining pricing advantages.",
    "output": "[Cause] The varied product lines [Relation] cause [Effect] Stryker has more opportunities to engineer meaningful innovation",
    "gold": "[Cause] The varied product lines [Relation] cause [Effect]  critical to gaining pricing advantages.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As spending on 4G infrastructure declines, we expect 5G equipment build-outs to benefit Nokia until the new technology is ubiquitous in early technology-embracing countries.",
    "output": "[Cause] spending on 4G infrastructure declines [Relation] cause [Effect] 5G equipment build-outs to benefit Nokia until the new technology is ubiquitous in early technology-embracing countries",
    "gold": "[Cause] spending on 4G infrastructure declines [Relation] cause [Effect] 5G equipment build-outs to benefit Nokia until the new technology is ubiquitous in early technology-embracing countries",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through its Contrail software platform and proprietary chip technology offerings, we believe Juniper should benefit from 5G networks requiring higher capacity routing capabilities alongside software-defined network management.",
    "output": "[Cause] its Contrail software platform and proprietary chip technology offerings [Relation] enable [Effect] Juniper should benefit from 5G networks requiring higher capacity routing capabilities alongside software-defined network management",
    "gold": "[Cause]  its Contrail software platform and proprietary chip technology offerings [Relation] enable [Effect] Juniper should benefit from 5G networks requiring higher capacity routing capabilities alongside software-defined network management",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our domestic subscriber forecast generates 7% average annual revenue growth between 2021 and 2025, as Netflix benefits from charging $14 as its base price in the U.S.",
    "output": "[Cause] Netflix benefits from charging $14 as its base price in the U.S [Relation] cause [Effect] Our domestic subscriber forecast generates 7% average annual revenue growth between 2021 and 2025",
    "gold": "[Cause] Netflix benefits from charging $14 as its base price in the U.S [Relation] enable [Effect] Our domestic subscriber forecast generates 7% average annual revenue growth between 2021 and 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Specifically, a single Vehicle Capture and Recognition System unit includes components and cameras with overlapping fields of view, which results in substantially improved system accuracy and revenue capture (that is, additional units help with capturing more license plates).",
    "output": "[Cause] a single Vehicle Capture and Recognition System unit includes components and cameras with overlapping fields of view [Relation] cause [Effect] substantially improved system accuracy and revenue capture",
    "gold": "[Cause] a single Vehicle Capture and Recognition System unit includes components and cameras with overlapping fields of view [Relation] cause [Effect] substantially improved system accuracy and revenue capture",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Specifically, a single Vehicle Capture and Recognition System unit includes components and cameras with overlapping fields of view, which results in substantially improved system accuracy and revenue capture (that is, additional units help with capturing more license plates).",
    "output": "[Cause] a single Vehicle Capture and Recognition System unit includes components and cameras with overlapping fields of view [Relation] cause [Effect] substantially improved system accuracy and revenue capture",
    "gold": "[Cause] additional units [Relation] enable [Effect] capturing more license plates",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "And given the pricing competitiveness likely to ensue as a result of COVID-19, at least for some time, we don't expect pricing gains to come as easily as in the past.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] the pricing competitiveness likely to ensue",
    "gold": "[Cause] the pricing competitiveness likely to ensue | COVID-19, at least for some time [Relation] enable [Effect] pricing gains to come as easily as in the past",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Once an engine is certified and included in the design of an aircraft the switching costs are extremely high as a result of the disruption it can cause during program ramp-up and the subsequent need for re-certification.",
    "output": "[Cause] the disruption [Relation] cause [Effect] the disruption it can cause during program ramp-up and the subsequent need for re-certification",
    "gold": "[Cause] the disruption it can cause during program ramp-up and the subsequent need for re-certification [Relation] cause [Effect] an engine is certified and included in the design of an aircraft the switching costs are extremely high",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Once an engine is certified and included in the design of an aircraft the switching costs are extremely high as a result of the disruption it can cause during program ramp-up and the subsequent need for re-certification.",
    "output": "[Cause] the disruption it can cause during program ramp-up and the subsequent need for re-certification [Relation] cause [Effect] Once an engine is certified and included in the design of an aircraft the switching costs are extremely high",
    "gold": "[Cause] the disruption it [Relation] cause [Effect] during program ramp-up and the subsequent need for re-certification",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We don't think the market's optimism around Masimo's pipeline is unwarranted, but we anticipate some growing pains as the company scales up these higher-growth-potential businesses.",
    "output": "[Cause] the company scales up these higher-growth-potential businesses [Relation] cause [Effect] some growing pains",
    "gold": "[Cause]  the company scales up these higher-growth-potential businesses [Relation] cause [Effect] some growing pains",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Following plant shutdowns and reduced demand in the last quarter of 2019 and throughout 2020 as a result of COVID-19, we expect margins to expand back to midcycle levels as Corning ramps back to full production.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] plant shutdowns and reduced demand in the last quarter of 2019 and throughout 2020",
    "gold": "[Cause] Corning ramps back to full production [Relation] cause [Effect]  we expect margins to expand back to midcycle levels",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Following plant shutdowns and reduced demand in the last quarter of 2019 and throughout 2020 as a result of COVID-19, we expect margins to expand back to midcycle levels as Corning ramps back to full production.",
    "output": "[Cause] Corning ramps back to full production [Relation] cause [Effect] margins to expand back to midcycle levels",
    "gold": "[Cause]  COVID-19 [Relation] cause [Effect] Following plant shutdowns and reduced demand in the last quarter of 2019 and throughout 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The biggest risk for the firm is the acreage is never drilled and developed, and thus there is no production to pay royalties on.",
    "output": "[Cause] The biggest risk for the firm is the acreage is never drilled and developed [Relation] cause [Effect] there is no production to pay royalties on",
    "gold": "[Cause] The biggest risk for the firm is the acreage is never drilled and developed [Relation] enable [Effect]  there is no production to pay royalties on",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Okta melded these two distinct markets within its identity cloud, and has a robust integration network that simplifies identity access and security protocols for the applications its customers rely on.",
    "output": "[Cause] Okta melded these two distinct markets within its identity cloud, and has a robust integration network [Relation] enable [Effect] simplifies identity access and security protocols for the applications its customers rely on",
    "gold": "[Cause] Okta melded these two distinct markets within its identity cloud, and has a robust integration network [Relation] enable [Effect] simplifies identity access and security protocols for the applications its customers rely on",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The DCH deal reduced Lithia's reliance on the Detroit Three, which used to account for more than 50% of the company's new-vehicle unit sales.",
    "output": "[Cause] The DCH deal [Relation] cause [Effect] reduced Lithia's reliance on the Detroit Three",
    "gold": "[Cause] The DCH deal [Relation] cause [Effect] reduced Lithia's reliance on the Detroit Three",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "All of HollyFrontier's refineries are in the midcontinent, ensuring it 405 mbd of capacity to process either discount light or heavy crude, while it enjoys a discount, given their proximity to the source of production.",
    "output": "[Cause] All of HollyFrontier's refineries are in the midcontinent [Relation] enable [Effect] it 405 mbd of capacity to process either discount light or heavy crude",
    "gold": "[Cause] All of HollyFrontier's refineries are in the midcontinent [Relation] enable [Effect]  it 405 mbd of capacity to process either discount light or heavy crude",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Banks are willing to pay top dollar for these frequent flier miles, which provides a high-margin income stream to United.",
    "output": "[Cause] Banks are willing to pay top dollar for these frequent flier miles [Relation] enable [Effect] provides a high-margin income stream to United",
    "gold": "[Cause] Banks are willing to pay top dollar for these frequent flier miles [Relation] enable [Effect] provides a high-margin income stream to United",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Citigroup has one of the largest FICC trading platforms, with particular strength in foreign exchange trading, where incremental returns from additional volume are maximal because the bank can spread the fixed costs of trading operations over an enormous base of transactions.",
    "output": "[Cause] the bank can spread the fixed costs of trading operations over an enormous base of transactions [Relation] cause [Effect] incremental returns from additional volume are maximal",
    "gold": "[Cause]  the bank can spread the fixed costs of trading operations over an enormous base of transactions [Relation] cause [Effect] incremental returns from additional volume are maximal",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It benefits from a significant network effect, in our view, given the extent to which it's taught in engineering programs worldwide, similar to Autodesk's strong network effect propelled by its presence in the top architecture and construction programs.",
    "output": "[Cause] the extent to which it's taught in engineering programs worldwide, similar to Autodesk's strong network effect propelled by its presence in the top architecture and construction programs [Relation] cause [Effect] It benefits from a significant network effect",
    "gold": "[Cause] the extent to which it's taught in engineering programs worldwide, similar to Autodesk's strong network effect propelled by its presence in the top architecture and construction programs [Relation] cause [Effect] It benefits from a significant network effect",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Along with competitor Arrow, we believe Avnet has positioned itself well to benefit from broad-based demand for electronic content in a variety of consumer products, as well as automotive, medical, and industrial end markets, due to the growing need for connectivity and automation.",
    "output": "[Cause] the growing need for connectivity and automation [Relation] cause [Effect] Avnet has positioned itself well to benefit from broad-based demand for electronic content in a variety of consumer products, as well as automotive, medical, and industrial end markets",
    "gold": "[Cause] the growing need for connectivity and automation [Relation] enable [Effect]  Avnet has positioned itself well to benefit from broad-based demand for electronic content in a variety of consumer products, as well as automotive, medical, and industrial end markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, on the general floor, Masimo is continuing to make the case that pulse oximetry can improve patient care and reduce hospital costs.",
    "output": "[Cause] pulse oximetry [Relation] enable [Effect] improve patient care and reduce hospital costs",
    "gold": "[Cause] pulse oximetry [Relation] enable [Effect] improve patient care and reduce hospital costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The CSG segment's uncertainties rest in the headwinds facing PCs and peripherals, as we expect a competitive market to remain as computer purchases decline.",
    "output": "[Cause] computer purchases decline [Relation] cause [Effect] a competitive market to remain",
    "gold": "[Cause]  the headwinds facing PCs and peripherals [Relation] cause [Effect] The CSG segment's uncertainties",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This, coupled with the fact that BioMarin's drugs hover well below blockbuster status, could make them less profitable targets for generics firms, once the costs of manufacturing, clinical trials, and global marketing are tallied.",
    "output": "[Cause] the costs of manufacturing, clinical trials, and global marketing are tallied [Relation] cause [Effect] make them less profitable targets for generics firms",
    "gold": "[Cause]  the costs of manufacturing, clinical trials, and global marketing are tallied | the fact that BioMarin's drugs hover well below blockbuster status [Relation] cause [Effect] make them less profitable targets for generics firms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think multiples are a little less meaningful for Amazon given the ongoing heavy investment and rapid scaling that depresses financial performance.",
    "output": "[Cause] the ongoing heavy investment and rapid scaling [Relation] cause [Effect] multiples are a little less meaningful for Amazon",
    "gold": "[Cause] the ongoing heavy investment and rapid scaling [Relation] prevent [Effect] financial performance",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect that Airbus will continue ramping up production of the A320 family of aircraft after the pandemic to serve the demand proved by the substantial backlog for the aircraft.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] Airbus will continue ramping up production of the A320 family of aircraft",
    "gold": "[Cause] the demand proved by the substantial backlog for the aircraft [Relation] enable [Effect]  Airbus will continue ramping up production of the A320 family of aircraft after the pandemic",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Profitability should improve as dilution from Flipkart ebbs and Walmart focuses on its most attractive markets, with margins rising from 3.1% in fiscal 2021 to around 5% by fiscal 2031.",
    "output": "[Cause] dilution from Flipkart ebbs and Walmart focuses on its most attractive markets [Relation] cause [Effect] Profitability should improve",
    "gold": "[Cause] dilution from Flipkart ebbs and Walmart focuses on its most attractive markets [Relation] enable [Effect] Profitability should improve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The chance of errors is higher at Dollar Tree relative to other retailers, in our view, as it operates two banners with distinct business models and shopper profiles.",
    "output": "[Cause] it operates two banners with distinct business models and shopper profiles [Relation] cause [Effect] The chance of errors is higher at Dollar Tree relative to other retailers",
    "gold": "[Cause] it operates two banners with distinct business models and shopper profiles [Relation] cause [Effect] The chance of errors is higher at Dollar Tree relative to other retailers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With its 7-nm EPYC 2 (Rome) server CPUs launched in 2019, the firm is poised to grow its market share to over 20% in the coming years. Consequently, we believe AMD will enjoy stellar revenue growth in the server CPU sub-segment of EESC, going from about $300 million in 2018 to over $8 billion in 2025.",
    "output": "[Cause] With its 7-nm EPYC 2 (Rome) server CPUs launched in 2019, the firm is poised to grow its market share to over 20% in the coming years [Relation] cause [Effect] AMD will enjoy stellar revenue growth in the server CPU sub-segment of EESC, going from about $300 million in 2018 to over $8 billion in 2025",
    "gold": "[Cause] With its 7-nm EPYC 2 (Rome) server CPUs launched in 2019, the firm is poised to grow its market share to over 20% in the coming years [Relation] cause [Effect]  AMD will enjoy stellar revenue growth in the server CPU sub-segment of EESC, going from about $300 million in 2018 to over $8 billion in 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We attribute this mostly to the company's multibrand and multigeography (decentralized) format where consumer tastes differ, which limits Kingfisher's purchasing power over suppliers and introduces supply chain complexity.",
    "output": "[Cause] the company's multibrand and multigeography (decentralized) format where consumer tastes differ [Relation] cause [Effect] this mostly",
    "gold": "[Cause]  the company's multibrand and multigeography (decentralized) format where consumer tastes differ [Relation] prevent [Effect] Kingfisher's purchasing power over suppliers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We attribute this mostly to the company's multibrand and multigeography (decentralized) format where consumer tastes differ, which limits Kingfisher's purchasing power over suppliers and introduces supply chain complexity.",
    "output": "[Cause] consumer tastes differ [Relation] prevent [Effect] Kingfisher's purchasing power over suppliers",
    "gold": "[Cause]  the company's multibrand and multigeography (decentralized) format where consumer tastes differ [Relation] cause [Effect] introduces supply chain complexity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "By investing in large, capital-intensive projects, such as LNG liquefaction, Exxon also runs the risk that commodity prices will decrease dramatically or it will overrun budgets, making those projects no longer economical.",
    "output": "[Cause] commodity prices will decrease dramatically or it will overrun budgets [Relation] cause [Effect] those projects no longer economical",
    "gold": "[Cause] commodity prices will decrease dramatically or it will overrun budgets [Relation] cause [Effect] those projects no longer economical",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "So, by MongoDB providing seamless cloud interoperability, MongoDB customers avoid the risk of vendor lock-in from their cloud service provider.",
    "output": "[Cause] MongoDB providing seamless cloud interoperability [Relation] enable [Effect] MongoDB customers avoid the risk of vendor lock-in from their cloud service provider",
    "gold": "[Cause] MongoDB providing seamless cloud interoperability [Relation] enable [Effect] MongoDB customers avoid the risk of vendor lock-in from their cloud service provider",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that hedge funds have high fees, they are less sensitive to the basis points paid for fund administration fees.",
    "output": "[Cause] hedge funds have high fees [Relation] cause [Effect] they are less sensitive to the basis points paid for fund administration fees",
    "gold": "[Cause] hedge funds have high fees [Relation] cause [Effect] they are less sensitive to the basis points paid for fund administration fees",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, there were some unusual factors, such as the rise in vaccinations and government stimulus, that encouraged shopping and aided its results.",
    "output": "[Cause] the rise in vaccinations and government stimulus [Relation] enable [Effect] encouraged shopping and aided its results",
    "gold": "[Cause] some unusual factors [Relation] enable [Effect] encouraged shopping and aided its results",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Another difficulty is that its operations in emerging markets, which had been Experian's main engine for growth, have been struggling a bit due to currency and macroeconomic headwinds.",
    "output": "[Cause] currency and macroeconomic headwinds [Relation] cause [Effect] its operations in emerging markets, which had been Experian's main engine for growth, have been struggling a bit",
    "gold": "[Cause]  currency and macroeconomic headwinds [Relation] cause [Effect] its operations in emerging markets, which had been Experian's main engine for growth, have been struggling a bit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, if Moderna's vaccine is more effective, a higher percentage of individuals could opt to receive it; only about half of Americans receive a flu shot annually today.",
    "output": "[Cause] Moderna's vaccine is more effective [Relation] cause [Effect] a higher percentage of individuals could opt to receive it",
    "gold": "[Cause]  Moderna's vaccine is more effective [Relation] cause [Effect]  a higher percentage of individuals could opt to receive it",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, vertical integration could eliminate the need for Duke Realty's properties, as companies could decide to build their own facilities.",
    "output": "[Cause] companies could decide to build their own facilities [Relation] cause [Effect] vertical integration could eliminate the need for Duke Realty's properties",
    "gold": "[Cause] companies could decide to build their own facilities [Relation] cause [Effect] vertical integration could eliminate the need for Duke Realty's properties",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lastly, regarding switching costs, as more Fortune 500 accounts seek simplicity along with multichannel marketing strategies, we believe integration must take place not only internally within the ad agency, but also externally with the accounts.",
    "output": "[Cause] more Fortune 500 accounts seek simplicity along with multichannel marketing strategies [Relation] cause [Effect] integration must take place not only internally within the ad agency, but also externally with the accounts",
    "gold": "[Cause] more Fortune 500 accounts seek simplicity along with multichannel marketing strategies [Relation] cause [Effect] integration must take place not only internally within the ad agency, but also externally with the accounts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "COVID-19 has dramatically impaired Hormel's sales to food-service customers (26% of fiscal 2020 sales), but robust retail demand (67% of sales) has more than compensated for this weakness.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] dramatically impaired Hormel's sales to food-service customers",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] dramatically impaired Hormel's sales to food-service customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "American Express' strength in the commercial space is driven by its success in becoming the card of choice for small- and medium-sized enterprises (SME) that represent about 75% of its commercial business, a success that is driven by its fully integrated operating model.",
    "output": "[Cause] its success in becoming the card of choice for small- and medium-sized enterprises (SME) that represent about 75% of its commercial business [Relation] cause [Effect] American Express' strength in the commercial space",
    "gold": "[Cause] its fully integrated operating model [Relation] cause [Effect] becoming the card of choice for small- and medium-sized enterprises (SME) that represent about 75% of its commercial business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "American Express' strength in the commercial space is driven by its success in becoming the card of choice for small- and medium-sized enterprises (SME) that represent about 75% of its commercial business, a success that is driven by its fully integrated operating model.",
    "output": "[Cause] its fully integrated operating model [Relation] enable [Effect] American Express' strength in the commercial space",
    "gold": "[Cause] becoming the card of choice for small- and medium-sized enterprises (SME) that represent about 75% of its commercial business [Relation] cause [Effect] American Express' strength in the commercial space",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We look for net revenue to rise 1%-3% in 2021, though operating margin could decline slightly as certain operating expenses return amid volume growth.",
    "output": "[Cause] certain operating expenses return amid volume growth [Relation] cause [Effect] operating margin could decline slightly",
    "gold": "[Cause] certain operating expenses return amid volume growth [Relation] cause [Effect] operating margin could decline slightly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we don't think there's any true barrier to a customer leaving if it can better meet its needs elsewhere, and crucially, we don't believe that 'switching' actually requires a complete abandoning of a CDN provider.",
    "output": "[Cause] it can better meet its needs elsewhere [Relation] cause [Effect] we don't think there's any true barrier to a customer leaving",
    "gold": "[Cause] can better meet its needs elsewhere [Relation] cause [Effect] don't believe that 'switching' actually requires a complete abandoning of a CDN provider",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our 6.0% midcycle assumption is 170 basis points above the 15-year historical median margin of 4.3% to reflect management's impressive turnaround progress.",
    "output": "[Cause] Our 6.0% midcycle assumption is 170 basis points above the 15-year historical median margin of 4.3% [Relation] enable [Effect] management's impressive turnaround progress",
    "gold": "[Cause] Our 6.0% midcycle assumption is 170 basis points above the 15-year historical median margin of 4.3% [Relation] enable [Effect] management's impressive turnaround progress",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nvidia must invest heavily in R&D to maintain its competitive edge in GPUs. Thus, we model long-term R&D as a percentage of sales around 20%, implying GAAP operating margins in the high 30s.",
    "output": "[Cause] Nvidia must invest heavily in R&D to maintain its competitive edge in GPUs [Relation] cause [Effect] we model long-term R&D as a percentage of sales around 20%, implying GAAP operating margins in the high 30s",
    "gold": "[Cause] Nvidia must invest heavily in R&D to maintain its competitive edge in GPUs [Relation] cause [Effect] we model long-term R&D as a percentage of sales around 20%, implying GAAP operating margins in the high 30s",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we believe Toll Brothers can achieve positive economic profits with increased sales volume and/or a lighter land strategy, we expect land competition to restrain the amplitude of those profits.",
    "output": "[Cause] land competition [Relation] prevent [Effect] the amplitude of those profits",
    "gold": "[Cause] Toll Brothers can achieve positive economic profits with increased sales volume and/or a lighter land strategy [Relation] cause [Effect] land competition to restrain the amplitude of those profits.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This results in a bloated cost base, which however benefits the largest branch operators (savings banks and cooperative banks) through better deposit gathering and thus lower funding costs.",
    "output": "[Cause] better deposit gathering and thus lower funding costs [Relation] enable [Effect] benefits the largest branch operators (savings banks and cooperative banks)",
    "gold": "[Cause] better deposit gathering [Relation] enable [Effect]  lower funding costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Amazon has been insourcing more of its own last-mile delivery needs at a rapid pace to supplement capacity access amid robust growth. This removes some incremental growth opportunities for UPS while creating risk that Amazon decides to take in house the shipments it sends though UPS--the retailer now makes up about 13% of UPS' consolidated revenue.",
    "output": "[Cause] Amazon has been insourcing more of its own last-mile delivery needs at a rapid pace to supplement capacity access amid robust growth [Relation] cause [Effect] removes some incremental growth opportunities for UPS while creating risk that Amazon decides to take in house the shipments it sends though UPS--the retailer now makes up about 13% of UPS' consolidated revenue",
    "gold": "[Cause] Amazon has been insourcing more of its own last-mile delivery needs at a rapid pace to supplement capacity access amid robust growth [Relation] cause [Effect] removes some incremental growth opportunities for UPS while creating risk that Amazon decides to take in house the shipments it sends though UPS--the retailer now makes up about 13% of UPS' consolidated revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The legacy Vistar business could be advantaged, given its market leading positions, share gains, and attractive profitability, but at 16% of total company revenue, it is too insignificant to affect the competitive standing of the firm overall, in our view.",
    "output": "[Cause] its market leading positions, share gains, and attractive profitability [Relation] cause [Effect] The legacy Vistar business could be advantaged",
    "gold": "[Cause]  its market leading positions, share gains, and attractive profitability [Relation] cause [Effect] The legacy Vistar business could be advantaged",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The legacy Vistar business could be advantaged, given its market leading positions, share gains, and attractive profitability, but at 16% of total company revenue, it is too insignificant to affect the competitive standing of the firm overall, in our view.",
    "output": "[Cause] at 16% of total company revenue [Relation] cause [Effect] it is too insignificant to affect the competitive standing of the firm overall",
    "gold": "[Cause]  at 16% of total company revenue [Relation] cause [Effect] it is too insignificant to affect the competitive standing of the firm overall",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In-store staff expertise is an important barrier to DIY disruption, but a significant shopper shift to digital retailers could add low-cost competition.",
    "output": "[Cause] In-store staff expertise [Relation] prevent [Effect] DIY disruption",
    "gold": "[Cause] In-store staff expertise [Relation] prevent [Effect] DIY disruption",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In-store staff expertise is an important barrier to DIY disruption, but a significant shopper shift to digital retailers could add low-cost competition.",
    "output": "[Cause] a significant shopper shift to digital retailers [Relation] enable [Effect] add low-cost competition",
    "gold": "[Cause] a significant shopper shift to digital retailers [Relation] cause [Effect] add low-cost competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company has made improvements in its supply chain, and we think it can achieve cost efficiencies as its men's and international businesses grow.",
    "output": "[Cause] its men's and international businesses grow [Relation] enable [Effect] it can achieve cost efficiencies",
    "gold": "[Cause] it can achieve cost efficiencies [Relation] enable [Effect] its men's and international businesses grow",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Equity Residential has created significant shareholder value through development, but the increased competition for apartment assets combined with lower near-term demand growth is making accretive deals more difficult to find and underwrite.",
    "output": "[Cause] the increased competition for apartment assets combined with lower near-term demand growth [Relation] cause [Effect] making accretive deals more difficult to find and underwrite",
    "gold": "[Cause] the increased competition for apartment assets combined with lower near-term demand growth [Relation] cause [Effect]  making accretive deals more difficult to find and underwrite",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Creative Cloud's high market share over the last 25 years means a significant portion of high margin revenue is at risk, however slight that risk may be, if a competitor were to make inroads in the space.",
    "output": "[Cause] Creative Cloud's high market share over the last 25 years [Relation] cause [Effect] a significant portion of high margin revenue is at risk",
    "gold": "[Cause] a competitor were to make inroads in the space [Relation] cause [Effect] a significant portion of high margin revenue is at risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Creative Cloud's high market share over the last 25 years means a significant portion of high margin revenue is at risk, however slight that risk may be, if a competitor were to make inroads in the space.",
    "output": "[Cause] a competitor were to make inroads in the space [Relation] cause [Effect] a significant portion of high margin revenue is at risk",
    "gold": "[Cause] Creative Cloud's high market share over the last 25 years [Relation] cause [Effect]  a significant portion of high margin revenue is at risk, however slight that risk may be, if a competitor were to make inroads in the space",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, as a major wireless provider, we think BCE's wireline broadband business is well protected, as we expect consumers will rely on BCE for Internet service regardless of the type of connection or mode of use.",
    "output": "[Cause] consumers will rely on BCE for Internet service regardless of the type of connection or mode of use [Relation] cause [Effect] BCE's wireline broadband business is well protected",
    "gold": "[Cause] consumers will rely on BCE for Internet service regardless of the type of connection or mode of use [Relation] cause [Effect] BCE's wireline broadband business is well protected",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The remote location of the firm's main oil assets, in North Dakota's Bakken Shale field, is a further drag on realized prices.",
    "output": "[Cause] The remote location of the firm's main oil assets, in North Dakota's Bakken Shale field [Relation] prevent [Effect] realized prices",
    "gold": "[Cause] The remote location of the firm's main oil assets, in North Dakota's Bakken Shale field [Relation] prevent [Effect] realized prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect GAAP operating margins to increase from negative 36% in fiscal 2021 to 28% in fiscal 2031, as a result of operating leverage from drastic scale.",
    "output": "[Cause] operating leverage from drastic scale [Relation] cause [Effect] GAAP operating margins to increase from negative 36% in fiscal 2021 to 28% in fiscal 2031",
    "gold": "[Cause] operating leverage from drastic scale [Relation] enable [Effect]  GAAP operating margins to increase from negative 36% in fiscal 2021 to 28% in fiscal 2031",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Oracle's total revenue will grow at a 2% compounded annual rate over the next five years, with cloud services and license support segment driving growth offset by hardware and services declining as a result of customers' transition to the cloud.",
    "output": "[Cause] customers' transition to the cloud [Relation] cause [Effect] cloud services and license support segment driving growth offset by hardware and services declining",
    "gold": "[Cause] cloud services and license support segment driving growth offset by hardware and services declining [Relation] cause [Effect] Oracle's total revenue will grow at a 2% compounded annual rate over the next five years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect Oracle's total revenue will grow at a 2% compounded annual rate over the next five years, with cloud services and license support segment driving growth offset by hardware and services declining as a result of customers' transition to the cloud.",
    "output": "[Cause] customers' transition to the cloud [Relation] cause [Effect] cloud services and license support segment driving growth offset by hardware and services declining",
    "gold": "[Cause] customers' transition to the cloud [Relation] cause [Effect] cloud services and license support segment driving growth offset by hardware and services declining",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With no user growth, premium content providers, in addition to advertisers, could abandon or allocate much less content and ad dollars to be distributed via and spent on Twitter.",
    "output": "[Cause] no user growth [Relation] cause [Effect] premium content providers, in addition to advertisers, could abandon or allocate much less content and ad dollars to be distributed via and spent on Twitter",
    "gold": "[Cause]  no user growth [Relation] cause [Effect] premium content providers, in addition to advertisers, could abandon or allocate much less content and ad dollars to be distributed via and spent on Twitter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we are forecasting economic profits in each of the next 10 years, we lack confidence in the sustainability of these returns beyond our 10-year explicit forecast, particularly in light of the intense competitive landscape in which it plays.",
    "output": "[Cause] the intense competitive landscape in which it plays [Relation] cause [Effect] we lack confidence in the sustainability of these returns beyond our 10-year explicit forecast",
    "gold": "[Cause] the intense competitive landscape in which it plays [Relation] cause [Effect] we lack confidence in the sustainability of these returns beyond our 10-year explicit forecast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With lower value-based payments, Centene may have trouble expanding the breadth and depth of its service offerings, which can limit the attractiveness of the plan for end users relative to Centene's peers.",
    "output": "[Cause] lower value-based payments [Relation] cause [Effect] Centene may have trouble expanding the breadth and depth of its service offerings",
    "gold": "[Cause] lower value-based payments [Relation] cause [Effect] Centene may have trouble expanding the breadth and depth of its service offerings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With lower value-based payments, Centene may have trouble expanding the breadth and depth of its service offerings, which can limit the attractiveness of the plan for end users relative to Centene's peers.",
    "output": "[Cause] Centene may have trouble expanding the breadth and depth of its service offerings [Relation] prevent [Effect] the attractiveness of the plan for end users relative to Centene's peers",
    "gold": "[Cause] Centene may have trouble expanding the breadth and depth of its service offerings [Relation] prevent [Effect] the attractiveness of the plan for end users relative to Centene's peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We model a 12% recovery in 2022, followed by 4% organic long-term volume growth, as the firm continues to expand into new channels.",
    "output": "[Cause] the firm continues to expand into new channels [Relation] cause [Effect] We model a 12% recovery in 2022, followed by 4% organic long-term volume growth",
    "gold": "[Cause]  the firm continues to expand into new channels [Relation] cause [Effect] We model a 12% recovery in 2022, followed by 4% organic long-term volume growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Jimmy Choo contributed only 10% of Capri's revenue in fiscal 2020, and we expect a large sales decline in fiscal 2021 due to COVID-19.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] a large sales decline in fiscal 2021",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] a large sales decline in fiscal 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, Steel Dynamics deserves a higher multiple than its peer group because its EAFs are newer than the furnaces employed by its peers and therefore will require a lower reinvestment rate.",
    "output": "[Cause] its EAFs are newer than the furnaces employed by its peers [Relation] cause [Effect] Steel Dynamics deserves a higher multiple than its peer group",
    "gold": "[Cause] its EAFs are newer than the furnaces employed by its peers [Relation] cause [Effect] Steel Dynamics deserves a higher multiple than its peer group",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Then we increased our long-term tax rate to 28% from 24% in 2020 to adjust for the higher corporate tax rate likely to be implemented under the Biden administration.",
    "output": "[Cause] the higher corporate tax rate likely to be implemented under the Biden administration [Relation] cause [Effect] We increased our long-term tax rate to 28% from 24% in 2020",
    "gold": "[Cause] increased our long-term tax rate to 28% from 24% in 2020 [Relation] enable [Effect] adjust for the higher corporate tax rate likely to be implemented under the Biden administration",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe Adidas has a strong opportunity in the athletic apparel market in China, where it is viewed as a premium fashion brand with high pricing.",
    "output": "[Cause] it is viewed as a premium fashion brand with high pricing [Relation] cause [Effect] We believe Adidas has a strong opportunity in the athletic apparel market in China",
    "gold": "[Cause] it is viewed as a premium fashion brand with high pricing [Relation] cause [Effect] We believe Adidas has a strong opportunity in the athletic apparel market in China",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're raising our fair value estimate to $76 from $73, largely due to time value and sales momentum, offset by higher taxes as we incorporate Morningstar's probability-weighted house view of an increase in the U.S.",
    "output": "[Cause] time value and sales momentum [Relation] cause [Effect] raising our fair value estimate to $76 from $73",
    "gold": "[Cause] time value and sales momentum [Relation] cause [Effect] raising our fair value estimate to $76 from $73",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're raising our fair value estimate to $76 from $73, largely due to time value and sales momentum, offset by higher taxes as we incorporate Morningstar's probability-weighted house view of an increase in the U.S.",
    "output": "[Cause] incorporate Morningstar's probability-weighted house view of an increase in the U.S [Relation] cause [Effect] higher taxes",
    "gold": "[Cause] incorporate Morningstar's probability-weighted house view of an increase in the U.S [Relation] cause [Effect] raising our fair value estimate to $76 from $73",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We're raising our fair value estimate to $76 from $73, largely due to time value and sales momentum, offset by higher taxes as we incorporate Morningstar's probability-weighted house view of an increase in the U.S.",
    "output": "[Cause] incorporate Morningstar's probability-weighted house view of an increase in the U.S [Relation] cause [Effect] higher taxes",
    "gold": "[Cause] incorporate Morningstar's probability-weighted house view of an increase in the U.S [Relation] prevent [Effect] higher taxes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our opinion, this customer stickiness and difficult-to-replicate IP portfolio will drive excess returns on capital for Cadence over the next 10 years.",
    "output": "[Cause] this customer stickiness and difficult-to-replicate IP portfolio [Relation] cause [Effect] excess returns on capital for Cadence over the next 10 years",
    "gold": "[Cause] this customer stickiness and difficult-to-replicate IP portfolio [Relation] enable [Effect] excess returns on capital for Cadence over the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As consumers slowly resume cruising after an estimated six-month halt to sailing (with only a handful of ships expected to sail before year-end), we suspect cruise operators will have to reassure passengers of both the safety and value proposition of cruising.",
    "output": "[Cause] consumers slowly resume cruising after an estimated six-month halt to sailing (with only a handful of ships expected to sail before year-end) [Relation] cause [Effect] cruise operators will have to reassure passengers of both the safety and value proposition of cruising",
    "gold": "[Cause] As consumers slowly resume cruising after an estimated six-month halt to sailing [Relation] enable [Effect] cruise operators will have to reassure passengers of both the safety and value proposition of cruising",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In comparison, the process for producing ready-mixed concrete and asphalt is largely just mixing ingredients, so opening a new facility tends to meet far less opposition.",
    "output": "[Cause] the process for producing ready-mixed concrete and asphalt is largely just mixing ingredients [Relation] cause [Effect] opening a new facility tends to meet far less opposition",
    "gold": "[Cause] the process for producing ready-mixed concrete and asphalt is largely just mixing ingredients [Relation] cause [Effect] opening a new facility tends to meet far less opposition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We view the consumer security market as very challenging due to the quantity of competitors that perpetually lower prices to swap subscribers.",
    "output": "[Cause] the quantity of competitors that perpetually lower prices to swap subscribers [Relation] cause [Effect] We view the consumer security market as very challenging",
    "gold": "[Cause] the quantity of competitors that perpetually lower prices to swap subscribers [Relation] cause [Effect] We view the consumer security market as very challenging",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "FactSet combines proprietary data and software analytics with data from 220 suppliers, 115 news sources, and 85 exchanges, making its workstations a one-stop shop for investors needing to access a variety of proprietary data ranging from securities prices to earnings estimates, ownership data, filings information, and historical M&A data.",
    "output": "[Cause] FactSet combines proprietary data and software analytics with data from 220 suppliers, 115 news sources, and 85 exchanges [Relation] enable [Effect] its workstations a one-stop shop for investors needing to access a variety of proprietary data ranging from securities prices to earnings estimates, ownership data, filings information, and historical M&A data",
    "gold": "[Cause] FactSet combines proprietary data and software analytics with data from 220 suppliers, 115 news sources, and 85 exchanges [Relation] enable [Effect] its workstations a one-stop shop for investors needing to access a variety of proprietary data ranging from securities prices to earnings estimates, ownership data, filings information, and historical M&A data",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While low- to mid-teens restaurant margins and higher buildout costs curtail the firm's domestic growth story (where Chick-Fil-A, Raising Cane's, Zaxby's, and Wingstop sport higher unit volumes), strong results abroad make investments by third parties a more alluring proposition.",
    "output": "[Cause] low- to mid-teens restaurant margins and higher buildout costs [Relation] prevent [Effect] the firm's domestic growth story",
    "gold": "[Cause]  low- to mid-teens restaurant margins and higher buildout costs [Relation] prevent [Effect] the firm's domestic growth story",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While low- to mid-teens restaurant margins and higher buildout costs curtail the firm's domestic growth story (where Chick-Fil-A, Raising Cane's, Zaxby's, and Wingstop sport higher unit volumes), strong results abroad make investments by third parties a more alluring proposition.",
    "output": "[Cause] strong results abroad [Relation] enable [Effect] investments by third parties a more alluring proposition",
    "gold": "[Cause] strong results abroad [Relation] enable [Effect] investments by third parties a more alluring proposition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Now that Coloplast already has shifted most of its production to Hungary and China, we anticipate smaller margin gains going forward.",
    "output": "[Cause] Coloplast already has shifted most of its production to Hungary and China [Relation] cause [Effect] smaller margin gains going forward",
    "gold": "[Cause] Coloplast already has shifted most of its production to Hungary and China [Relation] enable [Effect] smaller margin gains going forward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In particular, Burger King's global reach (with a meaningful franchisee presence in the U.S., Latin America, and Europe) can help to strengthen the Tim Hortons and Popeyes brand intangible assets outside North America.",
    "output": "[Cause] Burger King's global reach [Relation] enable [Effect] help to strengthen the Tim Hortons and Popeyes brand intangible assets outside North America",
    "gold": "[Cause] Burger King's global reach [Relation] enable [Effect]  help to strengthen the Tim Hortons and Popeyes brand intangible assets outside North America",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As more people use the service with a positive experience, repeat customers have grown to above 70% of the mix at the end of 2020 from 37% in 2012.",
    "output": "[Cause] more people use the service with a positive experience [Relation] cause [Effect] repeat customers have grown to above 70% of the mix at the end of 2020 from 37% in 2012",
    "gold": "[Cause] more people use the service with a positive experience [Relation] cause [Effect] repeat customers have grown to above 70% of the mix at the end of 2020 from 37% in 2012",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And, finally, Western Union generates most of its revenue outside the U.S., creating meaningful currency risk that can act as a headwind if the dollar strengthens.",
    "output": "[Cause] Western Union generates most of its revenue outside the U.S. [Relation] cause [Effect] meaningful currency risk that can act as a headwind if the dollar strengthens",
    "gold": "[Cause] Western Union generates most of its revenue outside the U.S. [Relation] cause [Effect] meaningful currency risk that can act as a headwind if the dollar strengthens",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This aggressive restructuring resulted in the closure of roughly 20-25 manufacturing plants, the elimination of over 10,000 positions, the rationalization of unprofitable drugs, and enable the company to pay down debt.",
    "output": "[Cause] This aggressive restructuring [Relation] enable [Effect] the company to pay down debt",
    "gold": "[Cause] This aggressive restructuring [Relation] cause [Effect] the elimination of over 10,000 positions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This aggressive restructuring resulted in the closure of roughly 20-25 manufacturing plants, the elimination of over 10,000 positions, the rationalization of unprofitable drugs, and enable the company to pay down debt.",
    "output": "[Cause] This aggressive restructuring [Relation] enable [Effect] the company to pay down debt",
    "gold": "[Cause] This aggressive restructuring [Relation] cause [Effect]  the rationalization of unprofitable drugs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This aggressive restructuring resulted in the closure of roughly 20-25 manufacturing plants, the elimination of over 10,000 positions, the rationalization of unprofitable drugs, and enable the company to pay down debt.",
    "output": "[Cause] This aggressive restructuring [Relation] cause [Effect] the rationalization of unprofitable drugs",
    "gold": "[Cause] This aggressive restructuring [Relation] enable [Effect] the company to pay down debt",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We anticipate that ADS' card receivables will decline this year and that charge-offs will rise due to the recession.",
    "output": "[Cause] the recession [Relation] cause [Effect] charge-offs will rise",
    "gold": "[Cause] the recession [Relation] cause [Effect] charge-offs will rise",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Reddy's brand recognition is likely to face stronger competition in the coming years as larger players with greater financial resources hope to expand and diversify operations in the faster-growing emerging markets.",
    "output": "[Cause] larger players with greater financial resources hope to expand and diversify operations in the faster-growing emerging markets [Relation] cause [Effect] Reddy's brand recognition is likely to face stronger competition in the coming years",
    "gold": "[Cause] larger players with greater financial resources hope to expand and diversify operations in the faster-growing emerging markets [Relation] cause [Effect] Reddy's brand recognition is likely to face stronger competition in the coming years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Following a decline in issuance, we expect S&P ratings revenue to rebound, driven by pricing power and a rise in GDP.",
    "output": "[Cause] pricing power and a rise in GDP [Relation] cause [Effect] S&P ratings revenue to rebound",
    "gold": "[Cause] pricing power and a rise in GDP [Relation] enable [Effect] S&P ratings revenue to rebound",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, the analog chip industry remains quite cyclical and sales probably will continue to ebb and flow with these industry cycles over time.",
    "output": "[Cause] the analog chip industry remains quite cyclical [Relation] cause [Effect] sales probably will continue to ebb and flow with these industry cycles over time",
    "gold": "[Cause] these industry cycles over time [Relation] cause [Effect] sales probably will continue to ebb and flow",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As such, we see elevated risk to our forecasts for 2021 and 2022 (upside and downside) given the potential for either economic recovery or retrenchment depending on the success of COVID-19 vaccines and related lifting of government restrictions.",
    "output": "[Cause] the potential for either economic recovery or retrenchment depending on the success of COVID-19 vaccines and related lifting of government restrictions [Relation] cause [Effect] elevated risk to our forecasts for 2021 and 2022 (upside and downside)",
    "gold": "[Cause] the potential for either economic recovery or retrenchment depending on the success of COVID-19 vaccines and related lifting of government restrictions [Relation] cause [Effect] elevated risk to our forecasts for 2021 and 2022 (upside and downside)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "SAP has made an even bigger bet on this trend with its decision to design its next-generation ERP system as closed architecture that will force all customers to migrate to its HANA database.",
    "output": "[Cause] design its next-generation ERP system as closed architecture [Relation] cause [Effect] all customers to migrate to its HANA database",
    "gold": "[Cause] design its next-generation ERP system as closed architecture [Relation] cause [Effect]  all customers to migrate to its HANA database",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The most important driver for Plains will be its Permian asset base, where we think the outlook is more of a lower-for-longer scenario as producers spend within cash flows and are seeking to hold production flat in the near term.",
    "output": "[Cause] producers spend within cash flows and are seeking to hold production flat in the near term [Relation] cause [Effect] the outlook is more of a lower-for-longer scenario",
    "gold": "[Cause] producers spend within cash flows and are seeking to hold production flat in the near term [Relation] cause [Effect] the outlook is more of a lower-for-longer scenario",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This technology has been more widely adopted as the patient pool expanded to include intermediate-risk patients over time as more trial data is amassed.",
    "output": "[Cause] more trial data is amassed [Relation] cause [Effect] the patient pool expanded to include intermediate-risk patients over time",
    "gold": "[Cause] more trial data is amassed [Relation] enable [Effect] the patient pool expanded to include intermediate-risk patients over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This technology has been more widely adopted as the patient pool expanded to include intermediate-risk patients over time as more trial data is amassed.",
    "output": "[Cause] more trial data is amassed [Relation] cause [Effect] This technology has been more widely adopted",
    "gold": "[Cause] the patient pool expanded to include intermediate-risk patients over time [Relation] cause [Effect] This technology has been more widely adopted",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "More than $30 billion has been deployed since 2010 on this strategy, which, while accretive to the company's reach, scale and product breadth, has historically suppressed its returns on invested capital, or ROICs, to rather modest levels.",
    "output": "[Cause] More than $30 billion has been deployed since 2010 on this strategy [Relation] cause [Effect] suppressed its returns on invested capital, or ROICs, to rather modest levels",
    "gold": "[Cause] this strategy [Relation] cause [Effect] accretive to the company's reach, scale and product breadth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These factors have combined to drive a more focused company that offers impressive revenue growth with high and expanding margins.",
    "output": "[Cause] These factors have combined [Relation] enable [Effect] a more focused company that offers impressive revenue growth with high and expanding margins",
    "gold": "[Cause] These factors have combined [Relation] enable [Effect] a more focused company that offers impressive revenue growth with high and expanding margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Allscripts' dwindling client base depends on the speed of hospital consolidation and its ability to stay afloat amid hospitals streamlining systems, as inpatient volume is increasingly replaced with ambulatory care.",
    "output": "[Cause] inpatient volume is increasingly replaced with ambulatory care [Relation] cause [Effect] Allscripts' dwindling client base depends on the speed of hospital consolidation and its ability to stay afloat amid hospitals streamlining systems",
    "gold": "[Cause]  inpatient volume is increasingly replaced with ambulatory care [Relation] cause [Effect] Allscripts' dwindling client base depends on the speed of hospital consolidation and its ability to stay afloat amid hospitals streamlining systems",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From a funding cost perspective, the bank benefits from sizable market share in Hong Kong and U.K., as highlighted above, and the strong liquidity and capital position allows the bank to raise wholesale funding at favourable rates.",
    "output": "[Cause] the strong liquidity and capital position [Relation] enable [Effect] the bank to raise wholesale funding at favourable rates",
    "gold": "[Cause] the strong liquidity and capital position [Relation] enable [Effect] the bank to raise wholesale funding at favourable rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Progressive has said it will write policies up to a 96% combined ratio, this is the upper limit, and we think more profitable policies should push the overall combined ratio down below this threshold.",
    "output": "[Cause] more profitable policies [Relation] enable [Effect] push the overall combined ratio down below this threshold",
    "gold": "[Cause] more profitable policies [Relation] cause [Effect] push the overall combined ratio down below this threshold",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2013, the entire development project was canceled because the company was unable to reach an agreement with Ecuador on key economic and legal terms.",
    "output": "[Cause] the company was unable to reach an agreement with Ecuador on key economic and legal terms [Relation] cause [Effect] the entire development project was canceled",
    "gold": "[Cause] the company was unable to reach an agreement with Ecuador on key economic and legal terms [Relation] cause [Effect]  the entire development project was canceled",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect improvement to be driven by a recovery in the Jennie-O turkey business; it has experienced depressed pricing the past two years due to industry oversupply, which we expect to gradually abate over the next few years.",
    "output": "[Cause] industry oversupply [Relation] cause [Effect] it has experienced depressed pricing the past two years",
    "gold": "[Cause]  industry oversupply [Relation] cause [Effect]  it has experienced depressed pricing the past two years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect improvement to be driven by a recovery in the Jennie-O turkey business; it has experienced depressed pricing the past two years due to industry oversupply, which we expect to gradually abate over the next few years.",
    "output": "[Cause] industry oversupply [Relation] cause [Effect] it has experienced depressed pricing the past two years",
    "gold": "[Cause] a recovery in the Jennie-O turkey business [Relation] enable [Effect]  improvement to be driven",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Utility regulation in Hawaii includes usage-decoupled ratemaking that for the most part shields utility earnings from lower sales due to residential rooftop solar growth.",
    "output": "[Cause] residential rooftop solar growth [Relation] cause [Effect] Utility regulation in Hawaii includes usage-decoupled ratemaking",
    "gold": "[Cause] Utility regulation [Relation] prevent [Effect] utility earnings from lower sales",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Utility regulation in Hawaii includes usage-decoupled ratemaking that for the most part shields utility earnings from lower sales due to residential rooftop solar growth.",
    "output": "[Cause] residential rooftop solar growth [Relation] cause [Effect] Utility regulation in Hawaii includes usage-decoupled ratemaking",
    "gold": "[Cause] residential rooftop solar growth [Relation] cause [Effect] lower sales",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because Schwab's commission-free trading product platform is valuable to both clients and product manufacturers, the firm is able to extract value from operating it.",
    "output": "[Cause] Schwab's commission-free trading product platform is valuable to both clients and product manufacturers [Relation] enable [Effect] the firm is able to extract value from operating it",
    "gold": "[Cause] Schwab's commission-free trading product platform is valuable to both clients and product manufacturers [Relation] cause [Effect] the firm is able to extract value from operating it",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "During the last recession, many consumer packaged goods companies delayed new product launches; if that trend continues, it may weigh on Sonoco's profit margins, which are partly fueled by new product development.",
    "output": "[Cause] new product development [Relation] cause [Effect] weigh on Sonoco's profit margins",
    "gold": "[Cause] new product development [Relation] cause [Effect] weigh on Sonoco's profit margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "During the last recession, many consumer packaged goods companies delayed new product launches; if that trend continues, it may weigh on Sonoco's profit margins, which are partly fueled by new product development.",
    "output": "[Cause] new product development [Relation] cause [Effect] weigh on Sonoco's profit margins",
    "gold": "[Cause] trend continues [Relation] cause [Effect] weigh on Sonoco's profit margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "During the last recession, many consumer packaged goods companies delayed new product launches; if that trend continues, it may weigh on Sonoco's profit margins, which are partly fueled by new product development.",
    "output": "[Cause] new product development [Relation] cause [Effect] weigh on Sonoco's profit margins",
    "gold": "[Cause] recession [Relation] cause [Effect] delayed new product launches",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Though the COVID-19 crisis caused a significant decline in profitability as procedure volume fell in fiscal 2021, we expect its operating margin should regain some ground in fiscal 2022.",
    "output": "[Cause] procedure volume fell in fiscal 2021 [Relation] cause [Effect] the COVID-19 crisis caused a significant decline in profitability",
    "gold": "[Cause] the COVID-19 crisis [Relation] cause [Effect] a significant decline in profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Though the COVID-19 crisis caused a significant decline in profitability as procedure volume fell in fiscal 2021, we expect its operating margin should regain some ground in fiscal 2022.",
    "output": "[Cause] procedure volume fell in fiscal 2021 [Relation] cause [Effect] a significant decline in profitability",
    "gold": "[Cause] procedure volume fell in fiscal 2021 [Relation] cause [Effect] a significant decline in profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Growth will be disproportionately dominated by offerings like Truly and Twisted Tea, though we anticipate that laggards like Sam Adams will become less of a drag on overall results as the craft category continues to consolidate.",
    "output": "[Cause] the craft category continues to consolidate [Relation] cause [Effect] laggards like Sam Adams will become less of a drag on overall results",
    "gold": "[Cause]  the craft category continues to consolidate [Relation] cause [Effect] laggards like Sam Adams will become less of a drag on overall results",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After incorporating costs sunk on leasehold, acquisitions, exploration, and infrastructure, Apache's capital base inflates to a level that makes high returns on capital very difficult even under midcycle conditions ($55/bbl WTI and $2.80/mcf Henry Hub).",
    "output": "[Cause] Apache's capital base inflates to a level [Relation] cause [Effect] makes high returns on capital very difficult even under midcycle conditions",
    "gold": "[Cause] Apache's capital base inflates to a level [Relation] cause [Effect] makes high returns on capital very difficult even under midcycle conditions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company exhibits medium operating leverage thanks to its flexible operating model that relies solely on electric arc furnace production.",
    "output": "[Cause] its flexible operating model that relies solely on electric arc furnace production [Relation] enable [Effect] The company exhibits medium operating leverage",
    "gold": "[Cause] its flexible operating model that relies solely on electric arc furnace production [Relation] cause [Effect] The company exhibits medium operating leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we expect operating profit to decrease at a CAGR of 5.3% from 2019 to 2024 mainly due to other steel companies that are included in the other non-parent division mitigated by an increase in profitability as a result of the growth opportunities mentioned.",
    "output": "[Cause] the growth opportunities mentioned [Relation] cause [Effect] other steel companies that are included in the other non-parent division mitigated by an increase in profitability",
    "gold": "[Cause]  other steel companies that are included in the other non-parent division mitigated by an increase in profitability as a result of the growth opportunities mentioned [Relation] cause [Effect]  operating profit to decrease at a CAGR of 5.3% from 2019 to 2024",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We still believe Pier 1 and Bed Bath & Beyond procure a significantly lower proportion of their sales directly and target a lower-income demographic, so we don't view them as competitive threats jeopardizing RH's big-ticket sales.",
    "output": "[Cause] Pier 1 and Bed Bath & Beyond procure a significantly lower proportion of their sales directly and target a lower-income demographic [Relation] cause [Effect] we don't view them as competitive threats jeopardizing RH's big-ticket sales",
    "gold": "[Cause]  Pier 1 and Bed Bath & Beyond procure a significantly lower proportion of their sales directly and target a lower-income demographic [Relation] cause [Effect] we don't view them as competitive threats jeopardizing RH's big-ticket sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, since Graco's equipment often accounts for a relatively small portion of a customer's total production costs (for instance, a paint system at an auto assembly plant), the potential cost of unscheduled downtime could far outweigh any cost savings from switching to a cheaper but less proven alternative.",
    "output": "[Cause] Graco's equipment often accounts for a relatively small portion of a customer's total production costs [Relation] cause [Effect] the potential cost of unscheduled downtime could far outweigh any cost savings from switching to a cheaper but less proven alternative",
    "gold": "[Cause] Graco's equipment often accounts for a relatively small portion of a customer's total production costs [Relation] cause [Effect] the potential cost of unscheduled downtime could far outweigh any cost savings from switching to a cheaper but less proven alternative",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2020, COVID-19 is having a material impact on travel demand and we estimate Wyndham's revPAR declines around 37% this year.",
    "output": "[Cause] COVID-19 is having a material impact on travel demand [Relation] cause [Effect] Wyndham's revPAR declines around 37% this year",
    "gold": "[Cause] COVID-19 is having a material impact on travel demand [Relation] cause [Effect] Wyndham's revPAR declines around 37% this year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, to the extent those advantages currently exist, we can't view them as sustainable, since we don't see any barriers preventing competitors from mimicking them.",
    "output": "[Cause] we don't see any barriers preventing competitors from mimicking them [Relation] cause [Effect] we can't view them as sustainable",
    "gold": "[Cause] we don't see any barriers preventing competitors from mimicking them [Relation] cause [Effect] we can't view them as sustainable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Life insurance had been the bright spot for AIG, but declining interest rates and the fall in equity markets will pressure profitability.",
    "output": "[Cause] declining interest rates and the fall in equity markets [Relation] cause [Effect] pressure profitability",
    "gold": "[Cause] declining interest rates and the fall in equity markets [Relation] cause [Effect]  pressure profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nitinol, also know as nickel titanium, has become widely used in medical devices thanks to its superelasticity and shape memory, among other properties.",
    "output": "[Cause] its superelasticity and shape memory, among other properties [Relation] cause [Effect] Nitinol, also know as nickel titanium, has become widely used in medical devices",
    "gold": "[Cause]  its superelasticity and shape memory, among other properties [Relation] cause [Effect] Nitinol, also know as nickel titanium, has become widely used in medical devices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Snap-on's high-quality tools reduces the total cost of ownership, as technicians can complete more repair jobs by using the company's tools before breaks occur.",
    "output": "[Cause] technicians can complete more repair jobs by using the company's tools before breaks occur [Relation] cause [Effect] Snap-on's high-quality tools reduces the total cost of ownership",
    "gold": "[Cause] technicians can complete more repair jobs by using the company's tools before breaks occur [Relation] cause [Effect] Snap-on's high-quality tools reduces the total cost of ownership",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Genuine Parts has the largest network of independent retailers under a major brand, it is best positioned to capture partnerships with individual store owners seeking the cachet and infrastructure of a large organization along with a large measure of independence.",
    "output": "[Cause] Genuine Parts has the largest network of independent retailers under a major brand [Relation] enable [Effect] capture partnerships with individual store owners seeking the cachet and infrastructure of a large organization along with a large measure of independence",
    "gold": "[Cause] Genuine Parts has the largest network of independent retailers under a major brand [Relation] enable [Effect] capture partnerships with individual store owners seeking the cachet and infrastructure of a large organization along with a large measure of independence",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Via Twilio's platform, developers are able to embed a variety of communication capabilities into their products, and as usage grows, Twilio becomes more integral to businesses, enhancing customer stickiness.",
    "output": "[Cause] usage grows [Relation] enable [Effect] Twilio becomes more integral to businesses, enhancing customer stickiness",
    "gold": "[Cause] Via Twilio's platform [Relation] enable [Effect] developers are able to embed a variety of communication capabilities into their products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The consumer shift to researching and buying products online and digital distribution for media products has also driven down in-store transactions, a trend that will likely accelerate following COVID-19-related store operating restrictions.",
    "output": "[Cause] The consumer shift to researching and buying products online and digital distribution for media products has also driven down in-store transactions [Relation] cause [Effect] a trend that will likely accelerate following COVID-19-related store operating restrictions",
    "gold": "[Cause] The consumer shift to researching and buying products online and digital distribution for media products has also driven down in-store transactions, a trend that will likely accelerate following COVID-19-related store operating restrictions. [Relation] cause [Effect] driven down in-store transactions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, prices for Shell's integrated gas production are primarily tied to global crude benchmarks, which results in higher prices than typical pipeline gas pricing.",
    "output": "[Cause] prices for Shell's integrated gas production are primarily tied to global crude benchmarks [Relation] cause [Effect] higher prices than typical pipeline gas pricing",
    "gold": "[Cause] prices for Shell's integrated gas production are primarily tied to global crude benchmarks [Relation] cause [Effect] higher prices than typical pipeline gas pricing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Amid an ongoing portfolio review, the company is likely to close some of its higher-cost smelting facilities in order to improve its cost-competitiveness.",
    "output": "[Cause] improve its cost-competitiveness [Relation] cause [Effect] the company is likely to close some of its higher-cost smelting facilities",
    "gold": "[Cause] close some of its higher-cost smelting facilities [Relation] enable [Effect] improve its cost-competitiveness",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Bond issuers value credit ratings from Moody's and S&amp;P because of their wide acceptance among asset owners and asset managers.",
    "output": "[Cause] their wide acceptance among asset owners and asset managers [Relation] cause [Effect] Bond issuers value credit ratings from Moody's and S&amp;P",
    "gold": "[Cause] their wide acceptance among asset owners and asset managers [Relation] cause [Effect] Bond issuers value credit ratings from Moody's and S&amp;P",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the network effect emanating from the network service providers, we think it is unlikely that new competitors could replicate CoreSite's business or offer similar benefits to customers.",
    "output": "[Cause] the network effect emanating from the network service providers [Relation] prevent [Effect] new competitors could replicate CoreSite's business or offer similar benefits to customers",
    "gold": "[Cause]  the network effect emanating from the network service providers [Relation] prevent [Effect]  new competitors could replicate CoreSite's business or offer similar benefits to customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the large market share for its main product categories and the high quality of its products, dealer loyalty is high in many regions.",
    "output": "[Cause] the large market share for its main product categories and the high quality of its products [Relation] cause [Effect] dealer loyalty is high in many regions",
    "gold": "[Cause] the large market share for its main product categories and the high quality of its products [Relation] cause [Effect] dealer loyalty is high in many regions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cognizant has admitted that it is first and foremost perceived as a back-office enterprise outsourcer, but we think its existing technical capabilities are strong in more nuanced enterprise IT solutions, such as artificial intelligence services, which will help it become better known for digital transformation.",
    "output": "[Cause] its existing technical capabilities are strong in more nuanced enterprise IT solutions [Relation] enable [Effect] help it become better known for digital transformation",
    "gold": "[Cause] its existing technical capabilities are strong in more nuanced enterprise IT solutions [Relation] enable [Effect] help it become better known for digital transformation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Competitor Seagate has been severely capped in its ability to benefit from the shift to SSDs due its previous lack of a captive source of NAND flash capacity to drive its SSD business.",
    "output": "[Cause] its previous lack of a captive source of NAND flash capacity to drive its SSD business [Relation] cause [Effect] Competitor Seagate has been severely capped in its ability to benefit from the shift to SSDs",
    "gold": "[Cause] its previous lack of a captive source of NAND flash capacity to drive its SSD business [Relation] cause [Effect] Competitor Seagate has been severely capped in its ability to benefit from the shift to SSDs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, Perrigo's acquisition of Omega Pharma gives the company a broad sales and distribution platform in Europe, where brand recognition in these more fragmented customer markets helps stabilize pricing decay and maintain market share.",
    "output": "[Cause] brand recognition in these more fragmented customer markets [Relation] enable [Effect] stabilize pricing decay and maintain market share",
    "gold": "[Cause] Perrigo's acquisition of Omega Pharma gives the company a broad sales and distribution platform in Europe [Relation] enable [Effect] brand recognition in these more fragmented customer markets helps stabilize pricing decay and maintain market share.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we posit that National Grid will have to cut its dividend by 20% as of 2024 to avoid another credit rating downgrade, which would put the company at the lower end of the investment-grade spectrum.",
    "output": "[Cause] another credit rating downgrade [Relation] cause [Effect] put the company at the lower end of the investment-grade spectrum",
    "gold": "[Cause] we posit that National Grid will have to cut its dividend by 20% as of 2024 [Relation] prevent [Effect] another credit rating downgrade",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we posit that National Grid will have to cut its dividend by 20% as of 2024 to avoid another credit rating downgrade, which would put the company at the lower end of the investment-grade spectrum.",
    "output": "[Cause] another credit rating downgrade [Relation] cause [Effect] put the company at the lower end of the investment-grade spectrum",
    "gold": "[Cause] we posit that National Grid will have to cut its dividend by 20% as of 2024 [Relation] cause [Effect] put the company at the lower end of the investment-grade spectrum",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect adjusted EBITDA margins to grow over the forecast period as investment spending begins to level off and highly incremental workforce solutions revenue flows to the bottom line.",
    "output": "[Cause] investment spending begins to level off and highly incremental workforce solutions revenue flows to the bottom line [Relation] cause [Effect] adjusted EBITDA margins to grow over the forecast period",
    "gold": "[Cause] investment spending begins to level off and highly incremental workforce solutions revenue flows to the bottom line [Relation] cause [Effect] adjusted EBITDA margins to grow over the forecast period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the capital expense or installation portion, compared with legacy products, Eaton's UPS power density has improved by 50%, which in turn, reduces a customer's space requirements.",
    "output": "[Cause] On the capital expense or installation portion, compared with legacy products, Eaton's UPS power density has improved by 50% [Relation] enable [Effect] reduces a customer's space requirements",
    "gold": "[Cause] On the capital expense or installation portion, compared with legacy products, Eaton's UPS power density has improved by 50% [Relation] enable [Effect] reduces a customer's space requirements",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the long run, PSXP could be exposed to diminishing returns if Phillips 66's business were to deteriorate and its assets become stranded, but we don't expect that to happen for at least the next 10 years.",
    "output": "[Cause] Phillips 66's business were to deteriorate and its assets become stranded [Relation] cause [Effect] PSXP could be exposed to diminishing returns",
    "gold": "[Cause] diminishing returns if Phillips 66's business were to deteriorate [Relation] enable [Effect] its assets become stranded",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Likewise, the longer an animal is away from Charles River's facilities, the more likely it is subject to various bacterial conditions, which would impact the results of the study.",
    "output": "[Cause] the longer an animal is away from Charles River's facilities, the more likely it is subject to various bacterial conditions [Relation] cause [Effect] impact the results of the study",
    "gold": "[Cause]  the longer an animal is away from Charles River's facilities, the more likely it is subject to various bacterial conditions [Relation] cause [Effect]  impact the results of the study",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Many retailers that carry Adidas gear are suffering from declining customer traffic and closing stores, and fallout from the virus could make them even less competitive.",
    "output": "[Cause] fallout from the virus [Relation] cause [Effect] make them even less competitive",
    "gold": "[Cause] fallout from the virus [Relation] enable [Effect] make them even less competitive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With essentially all of the company's 8,941 properties (as of the end of 2020) being franchise and management contracts, respectively, Wyndham depends heavily on its brand to attract unit growth from third-party owners.",
    "output": "[Cause] essentially all of the company's 8,941 properties (as of the end of 2020) being franchise and management contracts [Relation] cause [Effect] Wyndham depends heavily on its brand to attract unit growth from third-party owners",
    "gold": "[Cause] essentially all of the company's 8,941 properties (as of the end of 2020) being franchise and management contracts [Relation] cause [Effect] Wyndham depends heavily on its brand to attract unit growth from third-party owners",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Offshore wind investments add to our earnings forecasts starting in 2023, boosting our forecast for Eversource's consolidated annual average earnings growth to 7% during the next five years.",
    "output": "[Cause] Offshore wind investments add to our earnings forecasts starting in 2023 [Relation] enable [Effect] boosting our forecast for Eversource's consolidated annual average earnings growth to 7% during the next five years",
    "gold": "[Cause] Offshore wind investments add to our earnings forecasts starting in 2023 [Relation] enable [Effect] boosting our forecast for Eversource's consolidated annual average earnings growth to 7% during the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To date, a lack of scale has resulted in a very high portion of revenue to be invested in SG&amp;A and R&amp;D.",
    "output": "[Cause] a lack of scale [Relation] cause [Effect] a very high portion of revenue to be invested in SG&amp;A and R&amp;D",
    "gold": "[Cause] a lack of scale [Relation] cause [Effect] a very high portion of revenue to be invested in SG&amp;A and R&amp;D",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Genuine Parts maximizes automotive and industrial inventory turnover by centralizing slow-selling items, as many locations can call upon warehoused parts as demand warrants.",
    "output": "[Cause] many locations can call upon warehoused parts as demand warrants [Relation] cause [Effect] Genuine Parts maximizes automotive and industrial inventory turnover by centralizing slow-selling items",
    "gold": "[Cause] many locations can call upon warehoused parts as demand warrants [Relation] cause [Effect] Genuine Parts maximizes automotive and industrial inventory turnover by centralizing slow-selling items",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even so, we think large distributors stand to gain some market share, given the expected permanent closures of smaller, less-well-capitalized distributors.",
    "output": "[Cause] the expected permanent closures of smaller, less-well-capitalized distributors [Relation] cause [Effect] large distributors stand to gain some market share",
    "gold": "[Cause] the expected permanent closures of smaller, less-well-capitalized distributors [Relation] cause [Effect] large distributors stand to gain some market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's desirable community footprint and land supply come at a price, however, as premier land parcels are more expensive with less favorable purchasing terms for the buyer (that is, fewer opportunities for Toll Brothers to procure land on option).",
    "output": "[Cause] premier land parcels are more expensive with less favorable purchasing terms for the buyer [Relation] cause [Effect] The company's desirable community footprint and land supply come at a price",
    "gold": "[Cause] premier land parcels are more expensive with less favorable purchasing terms for the buyer [Relation] cause [Effect] The company's desirable community footprint and land supply come at a price",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect economic profits to return as the pandemic eases, with our 10-year average estimate of adjusted return on invested capital remaining in the low-20s.",
    "output": "[Cause] the pandemic eases [Relation] cause [Effect] economic profits to return",
    "gold": "[Cause] the pandemic eases [Relation] enable [Effect] economic profits to return",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect economic profits to return as the pandemic eases, with our 10-year average estimate of adjusted return on invested capital remaining in the low-20s.",
    "output": "[Cause] the pandemic eases [Relation] cause [Effect] economic profits to return",
    "gold": "[Cause] the pandemic eases [Relation] enable [Effect] our 10-year average estimate of adjusted return on invested capital remaining in the low-20s",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect demand to continue recovering in 2021, with revenue rising 7%-8% on solid intermodal growth (aided by robust retailer restocking in the first half), automotive volume recovery, and industrial end-market improvement.",
    "output": "[Cause] solid intermodal growth (aided by robust retailer restocking in the first half), automotive volume recovery, and industrial end-market improvement [Relation] enable [Effect] demand to continue recovering in 2021, with revenue rising 7%-8%",
    "gold": "[Cause] solid intermodal growth (aided by robust retailer restocking in the first half), automotive volume recovery, and industrial end-market improvement [Relation] cause [Effect]  demand to continue recovering in 2021, with revenue rising 7%-8%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Of note, a potential merger with Kansas City Southern will carry integration risk and the related threat of material overpayment for KCS should synergies fail to materialize--CN's merger proposal offers KSU a substantial premium.",
    "output": "[Cause] synergies fail to materialize [Relation] cause [Effect] a potential merger with Kansas City Southern will carry integration risk and the related threat of material overpayment for KCS",
    "gold": "[Cause] Of note, a potential merger with Kansas City Southern will carry integration risk and the related threat of material overpayment for KCS should synergies fail to materialize [Relation] enable [Effect] CN's merger proposal offers KSU a substantial premium",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "PNC is not large enough to be considered a global systemically important bank and does not have to comply with some of the more burdensome regulatory requirements.",
    "output": "[Cause] PNC is not large enough to be considered a global systemically important bank [Relation] cause [Effect] does not have to comply with some of the more burdensome regulatory requirements",
    "gold": "[Cause] PNC is not large enough to be considered a global systemically important bank [Relation] enable [Effect]  does not have to comply with some of the more burdensome regulatory requirements",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ocado's highly automated warehouse approach should allow Kroger to compete effectively with Amazon, creating the flexibility to serve orders from dedicated centers that would not incur the same order picking costs that constrain profitability when fulfilling from a traditional store.",
    "output": "[Cause] Ocado's highly automated warehouse approach [Relation] enable [Effect] Kroger to compete effectively with Amazon",
    "gold": "[Cause] Ocado's highly automated warehouse approach [Relation] enable [Effect] Kroger to compete effectively with Amazon",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ocado's highly automated warehouse approach should allow Kroger to compete effectively with Amazon, creating the flexibility to serve orders from dedicated centers that would not incur the same order picking costs that constrain profitability when fulfilling from a traditional store.",
    "output": "[Cause] Ocado's highly automated warehouse approach [Relation] enable [Effect] creating the flexibility to serve orders from dedicated centers",
    "gold": "[Cause] Ocado's highly automated warehouse approach [Relation] enable [Effect] creating the flexibility to serve orders from dedicated centers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ocado's highly automated warehouse approach should allow Kroger to compete effectively with Amazon, creating the flexibility to serve orders from dedicated centers that would not incur the same order picking costs that constrain profitability when fulfilling from a traditional store.",
    "output": "[Cause] Ocado's highly automated warehouse approach [Relation] enable [Effect] creating the flexibility to serve orders from dedicated centers",
    "gold": "[Cause] the same order picking costs [Relation] prevent [Effect] profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, all shopper behavior is especially mutable as digital rivals penetrate, and as their habits are not fully formed, we anticipate younger buyers' attention is especially fleeting.",
    "output": "[Cause] digital rivals penetrate [Relation] cause [Effect] all shopper behavior is especially mutable",
    "gold": "[Cause] digital rivals penetrate [Relation] cause [Effect] all shopper behavior is especially mutable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, all shopper behavior is especially mutable as digital rivals penetrate, and as their habits are not fully formed, we anticipate younger buyers' attention is especially fleeting.",
    "output": "[Cause] their habits are not fully formed [Relation] cause [Effect] younger buyers' attention is especially fleeting",
    "gold": "[Cause] their habits are not fully formed [Relation] cause [Effect] younger buyers' attention is especially fleeting",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, the company has historically passed along special dividends to shareholder as a result of asset sales, so we will incorporate these as they occur.",
    "output": "[Cause] the company has historically passed along special dividends to shareholder as a result of asset sales [Relation] cause [Effect] we will incorporate these as they occur",
    "gold": "[Cause] the company has historically passed along special dividends to shareholder as a result of asset sales [Relation] enable [Effect] we will incorporate these as they occur",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ICE's various acquisitions and organic growth in its data products have placed it in a situation where roughly half of its net revenue comes from recurring sources as the firm increasingly becomes a data-services company.",
    "output": "[Cause] the firm increasingly becomes a data-services company [Relation] cause [Effect] ICE's various acquisitions and organic growth in its data products have placed it in a situation where roughly half of its net revenue comes from recurring sources",
    "gold": "[Cause] ICE's various acquisitions and organic growth in its data products have placed it in a situation [Relation] enable [Effect]  the firm increasingly becomes a data-services company.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the growth in partner and private label K-pod manufacturing, along with pricing moderation in company-owned brands, should be margin-dilutive, we believe these will be more than offset by supply-chain productivity, back-end technology investments that yield greater visibility and efficiency, and more favorable raw material procurement, particularly in packaging.",
    "output": "[Cause] supply-chain productivity, back-end technology investments that yield greater visibility and efficiency, and more favorable raw material procurement, particularly in packaging [Relation] prevent [Effect] the growth in partner and private label K-pod manufacturing, along with pricing moderation in company-owned brands",
    "gold": "[Cause]  the growth in partner and private label K-pod manufacturing, along with pricing moderation in company-owned brands [Relation] cause [Effect] margin-dilutive",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the growth in partner and private label K-pod manufacturing, along with pricing moderation in company-owned brands, should be margin-dilutive, we believe these will be more than offset by supply-chain productivity, back-end technology investments that yield greater visibility and efficiency, and more favorable raw material procurement, particularly in packaging.",
    "output": "[Cause] supply-chain productivity, back-end technology investments that yield greater visibility and efficiency, and more favorable raw material procurement, particularly in packaging [Relation] prevent [Effect] margin-dilutive",
    "gold": "[Cause] supply-chain productivity, back-end technology investments that yield greater visibility and efficiency, and more favorable raw material procurement, particularly in packaging [Relation] enable [Effect] these will be more than offset",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Unlike JD.com, Alibaba's logistics strategy is to build a scalable logistics platform, so it has focused on building logistics centers and Big Data infrastructure, and has collaborated with third parties on last-mile delivery.",
    "output": "[Cause] Alibaba's logistics strategy is to build a scalable logistics platform [Relation] cause [Effect] it has focused on building logistics centers and Big Data infrastructure",
    "gold": "[Cause]  Alibaba's logistics strategy is to build a scalable logistics platform [Relation] enable [Effect]  it has focused on building logistics centers and Big Data infrastructure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, most of these newer competitors are confined to low-end manufacturing due to prohibitive costs and engineering know-how associated with the leading-edge technology.",
    "output": "[Cause] prohibitive costs and engineering know-how associated with the leading-edge technology [Relation] cause [Effect] most of these newer competitors are confined to low-end manufacturing",
    "gold": "[Cause] prohibitive costs and engineering know-how associated with the leading-edge technology [Relation] enable [Effect] most of these newer competitors are confined to low-end manufacturing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Lennox's company-owned distribution networks allow the firm to better control its sales strategy and marketing efforts, while also directly providing training and support to the contractors that install and service Lennox's products.",
    "output": "[Cause] Lennox's company-owned distribution networks [Relation] enable [Effect] the firm to better control its sales strategy and marketing efforts, while also directly providing training and support to the contractors that install and service Lennox's products",
    "gold": "[Cause] Lennox's company-owned distribution networks [Relation] enable [Effect]  the firm to better control its sales strategy and marketing efforts, while also directly providing training and support to the contractors that install and service Lennox's products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm faces a very difficult 2020, as it deals with well curtailments and volatility in volumes across its gathering and processing footprint.",
    "output": "[Cause] it deals with well curtailments and volatility in volumes across its gathering and processing footprint [Relation] cause [Effect] The firm faces a very difficult 2020",
    "gold": "[Cause]  it deals with well curtailments and volatility in volumes across its gathering and processing footprint [Relation] cause [Effect] The firm faces a very difficult 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see little to suggest this competition will subside, particularly if the economic climate becomes more challenging, but we think the strength of Kellogg's relationships with its retail partners should ultimately ensure its edge persists longer term.",
    "output": "[Cause] the strength of Kellogg's relationships with its retail partners [Relation] enable [Effect] its edge persists longer term",
    "gold": "[Cause] We see little to suggest this competition will subside, particularly if the economic climate becomes more challenging [Relation] cause [Effect] we think the strength of Kellogg's relationships with its retail partners should ultimately ensure its edge persists longer term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast roughly 3% average annual organic revenue growth through 2025, driven by opportunities in infrastructure, mining, and energy.",
    "output": "[Cause] opportunities in infrastructure, mining, and energy [Relation] cause [Effect] roughly 3% average annual organic revenue growth through 2025",
    "gold": "[Cause] opportunities in infrastructure, mining, and energy [Relation] cause [Effect] roughly 3% average annual organic revenue growth through 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Both of these factors have become more favorable for PGE based on recent regulatory activity and falling market costs of capital.",
    "output": "[Cause] recent regulatory activity and falling market costs of capital [Relation] cause [Effect] Both of these factors have become more favorable for PGE",
    "gold": "[Cause]  recent regulatory activity and falling market costs of capital [Relation] cause [Effect] Both of these factors have become more favorable for PGE",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through the discrete forecast, we anticipate international volumes will eclipse North America volumes as the company enters new international markets, although incremental international growth will likely be increasingly challenging to obtain as competitors expand.",
    "output": "[Cause] the company enters new international markets [Relation] cause [Effect] international volumes will eclipse North America volumes",
    "gold": "[Cause] the company enters new international markets [Relation] enable [Effect] international volumes will eclipse North America volumes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through the discrete forecast, we anticipate international volumes will eclipse North America volumes as the company enters new international markets, although incremental international growth will likely be increasingly challenging to obtain as competitors expand.",
    "output": "[Cause] competitors expand [Relation] cause [Effect] incremental international growth will likely be increasingly challenging to obtain",
    "gold": "[Cause] the company enters new international markets [Relation] enable [Effect] international volumes will eclipse North America volumes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Through the discrete forecast, we anticipate international volumes will eclipse North America volumes as the company enters new international markets, although incremental international growth will likely be increasingly challenging to obtain as competitors expand.",
    "output": "[Cause] competitors expand [Relation] cause [Effect] incremental international growth will likely be increasingly challenging to obtain",
    "gold": "[Cause]  competitors expand [Relation] enable [Effect] incremental international growth will likely be increasingly challenging to obtain",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With around 90% of cigarette volumes from premium categories (primarily Marlboro), Altria has more exposure to the advantaged premium segments than its competitors.",
    "output": "[Cause] around 90% of cigarette volumes from premium categories (primarily Marlboro) [Relation] cause [Effect] Altria has more exposure to the advantaged premium segments than its competitors",
    "gold": "[Cause] around 90% of cigarette volumes from premium categories (primarily Marlboro) [Relation] enable [Effect] Altria has more exposure to the advantaged premium segments than its competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, much of the demand in Equity Residential's markets is absorbed by the supply growth of multifamily properties, as there are few barriers to entry to the residential market, even in the largest and most dense cities.",
    "output": "[Cause] there are few barriers to entry to the residential market, even in the largest and most dense cities [Relation] cause [Effect] much of the demand in Equity Residential's markets is absorbed by the supply growth of multifamily properties",
    "gold": "[Cause] there are few barriers to entry to the residential market, even in the largest and most dense cities [Relation] cause [Effect] much of the demand in Equity Residential's markets is absorbed by the supply growth of multifamily properties",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition to an intangible asset advantage, we believe Hyatt's increasing asset-light exposure generates a switching cost advantage, as managed and franchised contracts are typically for 20-30 years (depending on the region and hotel).",
    "output": "[Cause] managed and franchised contracts are typically for 20-30 years (depending on the region and hotel) [Relation] cause [Effect] Hyatt's increasing asset-light exposure generates a switching cost advantage",
    "gold": "[Cause] Hyatt's increasing asset-light exposure [Relation] cause [Effect] a switching cost advantage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If materials science interactions predicted in Dassault Systemes software prove faulty, animal or human testing of a drug could imply serious results and longer drug cycle times.",
    "output": "[Cause] materials science interactions predicted in Dassault Systemes software prove faulty [Relation] cause [Effect] animal or human testing of a drug could imply serious results and longer drug cycle times",
    "gold": "[Cause] animal or human testing of a drug [Relation] cause [Effect] serious results and longer drug cycle times",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If materials science interactions predicted in Dassault Systemes software prove faulty, animal or human testing of a drug could imply serious results and longer drug cycle times.",
    "output": "[Cause] materials science interactions predicted in Dassault Systemes software prove faulty [Relation] cause [Effect] animal or human testing of a drug could imply serious results and longer drug cycle times",
    "gold": "[Cause] materials science interactions predicted in Dassault Systemes software prove faulty [Relation] cause [Effect] animal or human testing of a drug could imply serious results and longer drug cycle times",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "NJR diversified outside its footprint with the $367.5 million acquisition of the Leaf River (Mississippi) Energy Center in late 2019.",
    "output": "[Cause] the $367.5 million acquisition of the Leaf River (Mississippi) Energy Center in late 2019 [Relation] enable [Effect] NJR diversified outside its footprint",
    "gold": "[Cause] the $367.5 million acquisition of the Leaf River (Mississippi) Energy Center in late 2019 [Relation] enable [Effect] NJR diversified outside its footprint",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nordson's acquisition strategy has allowed the firm to enter into adjacent niche markets and expand its ability to handle specialty materials.",
    "output": "[Cause] Nordson's acquisition strategy [Relation] enable [Effect] the firm to enter into adjacent niche markets",
    "gold": "[Cause] Nordson's acquisition strategy [Relation] enable [Effect] the firm to enter into adjacent niche markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nordson's acquisition strategy has allowed the firm to enter into adjacent niche markets and expand its ability to handle specialty materials.",
    "output": "[Cause] Nordson's acquisition strategy [Relation] enable [Effect] expand its ability to handle specialty materials",
    "gold": "[Cause] Nordson's acquisition strategy [Relation] enable [Effect] expand its ability to handle specialty materials",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're anticipating that Huntington Ingalls' organic top line will slow materially in 2021 as production reaches capacity and further growth becomes difficult, and we expect a 2.9% compound annual revenue growth rate for shipbuilding over our forecast period.",
    "output": "[Cause] production reaches capacity and further growth becomes difficult [Relation] cause [Effect] Huntington Ingalls' organic top line will slow materially in 2021",
    "gold": "[Cause]  production reaches capacity and further growth becomes difficult [Relation] cause [Effect]  Huntington Ingalls' organic top line will slow materially in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The pandemic has resulted in lower demand from restaurants (50% of sales), although this is partially offset by strong retail demand, the other 50% of sales.",
    "output": "[Cause] The pandemic [Relation] cause [Effect] lower demand from restaurants",
    "gold": "[Cause] The pandemic [Relation] cause [Effect]  lower demand from restaurants",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Narrower discounts for inland crude have reduced opportunities on the East and West Coast to rail and barge discount light crude to its refineries to back out more expensive foreign imports. As a result, the refineries in these regions are less competitive than those on the Gulf Coast or in the midcontinent.",
    "output": "[Cause] Narrower discounts for inland crude have reduced opportunities on the East and West Coast to rail and barge discount light crude to its refineries to back out more expensive foreign imports [Relation] cause [Effect] the refineries in these regions are less competitive than those on the Gulf Coast or in the midcontinent",
    "gold": "[Cause] Narrower discounts for inland crude have reduced opportunities on the East and West Coast to rail and barge discount light crude to its refineries to back out more expensive foreign imports [Relation] cause [Effect] the refineries in these regions are less competitive than those on the Gulf Coast or in the midcontinent",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our forecast for drillers' gross margin per rig day is driven by our expectations for utilization, as a tighter rig market should compel greater pricing power.",
    "output": "[Cause] a tighter rig market should compel greater pricing power [Relation] cause [Effect] Our forecast for drillers' gross margin per rig day is driven by our expectations for utilization",
    "gold": "[Cause]  a tighter rig market should compel greater pricing power [Relation] enable [Effect] Our forecast for drillers' gross margin per rig day is driven by our expectations for utilization",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Tourism is the most significant economic driver on the islands, resulting in COVID-19 having more impact on the Hawaiian economy than most other states.",
    "output": "[Cause] Tourism is the most significant economic driver on the islands [Relation] cause [Effect] COVID-19 having more impact on the Hawaiian economy than most other states",
    "gold": "[Cause] Tourism is the most significant economic driver on the islands [Relation] cause [Effect] COVID-19 having more impact on the Hawaiian economy than most other states",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of these priorities related to mission critical product functions reflected in the choice to use Creo, we think that Creo exhibits high switching costs.",
    "output": "[Cause] these priorities related to mission critical product functions reflected in the choice to use Creo [Relation] cause [Effect] Creo exhibits high switching costs",
    "gold": "[Cause] these priorities related to mission critical product functions reflected in the choice to use Creo [Relation] cause [Effect] Creo exhibits high switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Distribution expense fell from 5.0% in 2019 to 4.8% in 2020 as a result of the Eby-Brown acquisition, and should fall to 4.3% in 2023 including Core-Mark.",
    "output": "[Cause] the Eby-Brown acquisition [Relation] cause [Effect] Distribution expense fell from 5.0% in 2019 to 4.8% in 2020",
    "gold": "[Cause]  the Eby-Brown acquisition [Relation] cause [Effect] Distribution expense fell from 5.0% in 2019 to 4.8% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As evidence of the firm's inability to sustain a competitive edge, the vast majority of Conagra's revenue base does not command pricing power, including some of its market-leading brands.",
    "output": "[Cause] the firm's inability to sustain a competitive edge [Relation] cause [Effect] the vast majority of Conagra's revenue base does not command pricing power, including some of its market-leading brands",
    "gold": "[Cause] the firm's inability to sustain a competitive edge [Relation] cause [Effect] the vast majority of Conagra's revenue base does not command pricing power, including some of its market-leading brands",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In Italy, there is no cable TV operator, but fixed-line competition has increased as multiple operators build out fiber networks.",
    "output": "[Cause] multiple operators build out fiber networks [Relation] cause [Effect] fixed-line competition has increased",
    "gold": "[Cause] multiple operators build out fiber networks [Relation] cause [Effect]  fixed-line competition has increased",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Grainger continues to expand its endless assortment strategy, but we're skeptical of management's long-term profit margin goals for this business given strong competition in the space from the likes of Amazon Business and others.",
    "output": "[Cause] strong competition in the space from the likes of Amazon Business and others [Relation] cause [Effect] skeptical of management's long-term profit margin goals for this business",
    "gold": "[Cause]  we're skeptical of management's long-term profit margin goals for this business given strong competition in the space from the likes of Amazon Business and others [Relation] cause [Effect] Grainger continues to expand its endless assortment strategy",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Bank of America was hit quite hard during the crisis and underperformed peers, so it has not historically had any credit advantage in the last several decades.",
    "output": "[Cause] Bank of America was hit quite hard during the crisis and underperformed peers [Relation] cause [Effect] it has not historically had any credit advantage in the last several decades",
    "gold": "[Cause] Bank of America was hit quite hard during the crisis and underperformed peers [Relation] cause [Effect]  it has not historically had any credit advantage in the last several decades",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This is a rapidly evolving market and Microsoft must continually adjust its offerings, add solutions to the stack, and compete with a company that has built a business around aggressive pricing.",
    "output": "[Cause] This is a rapidly evolving market [Relation] cause [Effect] Microsoft must continually adjust its offerings, add solutions to the stack, and compete with a company that has built a business around aggressive pricing",
    "gold": "[Cause] This is a rapidly evolving market [Relation] cause [Effect] Microsoft must continually adjust its offerings, add solutions to the stack, and compete with a company that has built a business around aggressive pricing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over time, the role of a pharmaceutical distributor has evolved with the increasing number of new therapies, formation of government regulatory organizations, and regulatory requirements and licensure of manufacturers, retail pharmacies, and pharmaceutical distributors.",
    "output": "[Cause] the increasing number of new therapies, formation of government regulatory organizations, and regulatory requirements and licensure of manufacturers, retail pharmacies, and pharmaceutical distributors [Relation] cause [Effect] the role of a pharmaceutical distributor has evolved",
    "gold": "[Cause] the increasing number of new therapies, formation of government regulatory organizations, and regulatory requirements and licensure of manufacturers, retail pharmacies, and pharmaceutical distributors [Relation] cause [Effect]  the role of a pharmaceutical distributor has evolved",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Longer term, our adjusted EBIT is forecast to grow 6% per year to GBP 2.3 billion in 2024. This is driven by revenue growth as a result of low-single-digit increases in global defense spending and the contribution of the above-mentioned acquisitions.",
    "output": "[Cause] revenue growth as a result of low-single-digit increases in global defense spending and the contribution of the above-mentioned acquisitions [Relation] cause [Effect] Longer term, our adjusted EBIT is forecast to grow 6% per year to GBP 2.3 billion in 2024",
    "gold": "[Cause] revenue growth as a result of low-single-digit increases in global defense spending and the contribution of the above-mentioned acquisitions [Relation] enable [Effect] Longer term, our adjusted EBIT is forecast to grow 6% per year to GBP 2.3 billion in 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are updating our valuation to $91 per share from $95, purely driven by the change in the trading price of S&P's shares (just less than $319 per share at the time of publication) and reflecting the market value of the merger consideration.",
    "output": "[Cause] the change in the trading price of S&P's shares (just less than $319 per share at the time of publication) and reflecting the market value of the merger consideration [Relation] cause [Effect] updating our valuation to $91 per share from $95,",
    "gold": "[Cause] reflecting the market value of the merger consideration [Relation] cause [Effect]  the change in the trading price",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For example, in communities where Cigna already has substantial market share, the company typically aims to increase its influence by offering lower costs or more benefits per member to existing and potential clients.",
    "output": "[Cause] offering lower costs or more benefits per member to existing and potential clients [Relation] enable [Effect] increase its influence",
    "gold": "[Cause]  offering lower costs or more benefits per member to existing and potential clients [Relation] enable [Effect] increase its influence",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Broad-based chipmakers like STMicro stand to profit from greater demand for advanced infotainment systems, battery management solutions, and sensors associated with new safety features like blind-spot detection.",
    "output": "[Cause] Broad-based chipmakers like STMicro stand to profit from greater demand for advanced infotainment systems, battery management solutions, and sensors associated with new safety features like blind-spot detection [Relation] enable [Effect] advanced infotainment systems, battery management solutions, and sensors associated with new safety features like blind-spot detection",
    "gold": "[Cause] advanced infotainment systems, battery management solutions, and sensors associated with new safety features like blind-spot detection [Relation] cause [Effect] Broad-based chipmakers like STMicro stand to profit from greater demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect Fastly's burgeoning compute@edge feature will contribute to existing customers continuing to increase their spending levels with the firm as they use edge computing capabilities to a greater extent.",
    "output": "[Cause] Fastly's burgeoning compute@edge feature [Relation] cause [Effect] existing customers continuing to increase their spending levels with the firm as they use edge computing capabilities to a greater extent",
    "gold": "[Cause]  Fastly's burgeoning compute@edge feature [Relation] enable [Effect] existing customers continuing to increase their spending levels with the firm as they use edge computing capabilities to a greater extent",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we do not believe acquisitions have been transformative, the company has certainly made some larger acquisitions in order to help establish an immediate or larger presence in a particular solution.",
    "output": "[Cause] the company has certainly made some larger acquisitions [Relation] enable [Effect] establish an immediate or larger presence in a particular solution",
    "gold": "[Cause] the company has certainly made some larger acquisitions [Relation] enable [Effect]  establish an immediate or larger presence in a particular solution",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Demand for voice communications in customer service has been declining, leading to lower requirements for call center agents and thus lower incremental demand for CCaaS products.",
    "output": "[Cause] Demand for voice communications in customer service has been declining [Relation] cause [Effect] lower requirements for call center agents and thus lower incremental demand for CCaaS products",
    "gold": "[Cause] Demand for voice communications in customer service has been declining [Relation] cause [Effect]  lower requirements for call center agents and thus lower incremental demand for CCaaS products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even though its customers might be able to save money on a per-item basis by procuring items from different vendors, doing so requires time and more complicated logistical planning.",
    "output": "[Cause] procuring items from different vendors [Relation] enable [Effect] save money on a per-item basis",
    "gold": "[Cause]  customers might be able to save money on a per-item basis by procuring items from different vendors [Relation] cause [Effect] requires time and more complicated logistical planning",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect Lennar's home sales gross margin to average about 24% over the next decade due a sustained period of pricing power over the next few years and as cost-saving initiatives more than offset cost headwinds related to a tight supply of construction labor and land competition.",
    "output": "[Cause] a sustained period of pricing power over the next few years and as cost-saving initiatives more than offset cost headwinds related to a tight supply of construction labor and land competition [Relation] cause [Effect] Lennar's home sales gross margin to average about 24% over the next decade",
    "gold": "[Cause] a sustained period of pricing power over the next few years and as cost-saving initiatives more than offset cost headwinds related to a tight supply of construction labor and land competition [Relation] cause [Effect] Lennar's home sales gross margin to average about 24% over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nuclear plants take nearly a decade to site and build, cost billions of dollars, and typically face community oopposition, creating significant barriers to entry.",
    "output": "[Cause] Nuclear plants take nearly a decade to site and build, cost billions of dollars, and typically face community oopposition [Relation] cause [Effect] significant barriers to entry",
    "gold": "[Cause] Nuclear plants take nearly a decade to site and build, cost billions of dollars, and typically face community oopposition [Relation] cause [Effect] significant barriers to entry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With care concierges, nurse practitioners, and dietitians in addition to pharmacists already on staff at these stores, CVS aims to provide a convenient way for people to check their health conditions.",
    "output": "[Cause] With care concierges, nurse practitioners, and dietitians in addition to pharmacists already on staff at these stores [Relation] enable [Effect] CVS aims to provide a convenient way for people to check their health conditions",
    "gold": "[Cause] CVS aims to provide a convenient way for people to check their health conditions [Relation] cause [Effect] With care concierges, nurse practitioners, and dietitians in addition to pharmacists already on staff at these stores",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For public utilities, public safety considerations are also important, because equipment failures could even create an environmental hazard (for example, spills or sewer overflow).",
    "output": "[Cause] equipment failures could even create an environmental hazard [Relation] cause [Effect] public safety considerations are also important",
    "gold": "[Cause] equipment failures could even create an environmental hazard [Relation] cause [Effect] public safety considerations are also important",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These fees have been increasing rapidly over the past decade as the O&O stations have aggressively negotiated for higher fees by leveraging their must-have content and sport rights.",
    "output": "[Cause] leveraging their must-have content and sport rights [Relation] cause [Effect] the O&O stations have aggressively negotiated for higher fees",
    "gold": "[Cause]  leveraging their must-have content and sport rights [Relation] enable [Effect]  the O&O stations have aggressively negotiated for higher fees",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2019 Alliance Data Systems' overall cost of funding was 3.29% compared with 2.70% for Synchrony, giving it a cost disadvantage.",
    "output": "[Cause] In 2019 Alliance Data Systems' overall cost of funding was 3.29% compared with 2.70% for Synchrony [Relation] cause [Effect] a cost disadvantage",
    "gold": "[Cause] In 2019 Alliance Data Systems' overall cost of funding was 3.29% compared with 2.70% for Synchrony [Relation] cause [Effect] a cost disadvantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate pandemic test volume should decline in the second half of 2021 once there's widespread vaccination against COVID-19 in the U.S. This leads to our estimate for average annual revenue growth at 5% through 2024 and operating margin normalizing around 15%.",
    "output": "[Cause] pandemic test volume should decline in the second half of 2021 once there's widespread vaccination against COVID-19 in the U.S [Relation] cause [Effect] our estimate for average annual revenue growth at 5% through 2024 and operating margin normalizing around 15%",
    "gold": "[Cause] pandemic test volume should decline in the second half of 2021 once there's widespread vaccination against COVID-19 in the U.S [Relation] cause [Effect] our estimate for average annual revenue growth at 5% through 2024 and operating margin normalizing around 15%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we believe many of these products enjoy switching costs, and areas such as payment processing have built economies of scale that lead to a cost advantage, switching costs for Information Technology Servicesthese services are not as immense as for core processing.",
    "output": "[Cause] areas such as payment processing have built economies of scale [Relation] cause [Effect] a cost advantage",
    "gold": "[Cause] areas such as payment processing have built economies of scale [Relation] cause [Effect] a cost advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Whether it's a safety feature, hybrid capability, or new cabin amenities, when OEMs wish to include a new feature in a vehicle, Sensata has the technical prowess to enable it and expand its install base in the vehicle. As such, the firm has been able to grow its automotive and heavy vehicle revenue in excess of their underlying markets' growth by 4% and 8.5%, respectively, since 2016.",
    "output": "[Cause] Whether it's a safety feature, hybrid capability, or new cabin amenities, when OEMs wish to include a new feature in a vehicle, Sensata has the technical prowess to enable it and expand its install base in the vehicle [Relation] cause [Effect] the firm has been able to grow its automotive and heavy vehicle revenue in excess of their underlying markets' growth by 4% and 8.5%, respectively, since 2016",
    "gold": "[Cause] Whether it's a safety feature, hybrid capability, or new cabin amenities, when OEMs wish to include a new feature in a vehicle, Sensata has the technical prowess to enable it and expand its install base in the vehicle [Relation] cause [Effect] the firm has been able to grow its automotive and heavy vehicle revenue in excess of their underlying markets' growth by 4% and 8.5%, respectively, since 2016",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are concerned Telus may be more susceptible to Shaw's move to become a national wireless competitor, as Shaw's gains may come disproportionately in the western provinces where it has a wireline business and name recognition, a footprint that overlaps with Telus.",
    "output": "[Cause] Shaw's gains may come disproportionately in the western provinces where it has a wireline business and name recognition, a footprint that overlaps with Telus [Relation] cause [Effect] Telus may be more susceptible to Shaw's move to become a national wireless competitor",
    "gold": "[Cause] Shaw's gains may come disproportionately in the western provinces where it has a wireline business and name recognition, a footprint that overlaps with Telus [Relation] enable [Effect] Telus may be more susceptible to Shaw's move to become a national wireless competitor",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Exact's acquired technologies from the Thrive and Base acquisitions have not yet been commercialized and it remains unclear whether Exact will be able to convince payers to cover the test given that single-cancer screening may offer better test sensitivities.",
    "output": "[Cause] single-cancer screening may offer better test sensitivities [Relation] cause [Effect] it remains unclear whether Exact will be able to convince payers to cover the test",
    "gold": "[Cause] single-cancer screening may offer better test sensitivities [Relation] cause [Effect]  it remains unclear whether Exact will be able to convince payers to cover the test",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Both firms are able to earn economic profits when demand is strong and supply is tight, but any glut of supply can cause prices to sink, bringing economic profits with them鈥攁s seen in 2016 and 2019.",
    "output": "[Cause] any glut of supply can cause prices to sink [Relation] cause [Effect] economic profits with thems seen in 2016 and 2019",
    "gold": "[Cause] demand is strong and supply is tight [Relation] cause [Effect] Both firms are able to earn economic profits",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Preferably, the deposit base consists mostly of retail rather than wholesale deposits, as the former tend to be stickier and lower cost compared with the latter.",
    "output": "[Cause] the former tend to be stickier and lower cost compared with the latter [Relation] cause [Effect] the deposit base consists mostly of retail rather than wholesale deposits",
    "gold": "[Cause] the former tend to be stickier and lower cost compared with the latter [Relation] cause [Effect] the deposit base consists mostly of retail rather than wholesale deposits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the fixed-line business, we expect revenue will decline through 2022, with some stability thereafter as wholesale revenue derived from Verizon's fiber efforts offsets the decline of legacy voice services, and as Fios enables the consumer business to grow modestly.",
    "output": "[Cause] wholesale revenue derived from Verizon's fiber efforts offsets the decline of legacy voice services [Relation] cause [Effect] revenue will decline through 2022, with some stability thereafter",
    "gold": "[Cause] wholesale revenue derived from Verizon's fiber efforts offsets the decline of legacy voice services [Relation] cause [Effect] revenue will decline through 2022, with some stability thereafter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the fixed-line business, we expect revenue will decline through 2022, with some stability thereafter as wholesale revenue derived from Verizon's fiber efforts offsets the decline of legacy voice services, and as Fios enables the consumer business to grow modestly.",
    "output": "[Cause] Fios enables the consumer business to grow modestly [Relation] cause [Effect] revenue will decline through 2022, with some stability thereafter",
    "gold": "[Cause] Fios enables the consumer business to grow modestly [Relation] cause [Effect] revenue will decline through 2022, with some stability thereafter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Within the technologies business we anticipate the continued adoption of CAD/CAM and digital technologies to offset declines in more dated imaging technologies and continue to erode with increased competition.",
    "output": "[Cause] the continued adoption of CAD/CAM and digital technologies [Relation] prevent [Effect] declines in more dated imaging technologies and continue to erode with increased competition",
    "gold": "[Cause]  the continued adoption of CAD/CAM and digital technologies [Relation] prevent [Effect] declines in more dated imaging technologies and continue to erode with increased competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We currently assume an in-service date of late 2021 for MVP and a capital cost of $5.9 billion. As a result, our overall adjusted EBITDA (which includes equity income from MVP but excludes the deferred revenue associated with the latest EQT contracts) increases to $1.7 billion in 2024 compared with $1.2 billion in 2020.",
    "output": "[Cause] We currently assume an in-service date of late 2021 for MVP and a capital cost of $5.9 billion [Relation] cause [Effect] our overall adjusted EBITDA (which includes equity income from MVP but excludes the deferred revenue associated with the latest EQT contracts) increases to $1.7 billion in 2024 compared with $1.2 billion in 2020",
    "gold": "[Cause] We currently assume an in-service date of late 2021 for MVP and a capital cost of $5.9 billion [Relation] cause [Effect] our overall adjusted EBITDA (which includes equity income from MVP but excludes the deferred revenue associated with the latest EQT contracts) increases to $1.7 billion in 2024 compared with $1.2 billion in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This dynamic has created a virtuous cycle for JLL, allowing it to simultaneously retain top talent and poach employees from its competitors.",
    "output": "[Cause] This dynamic has created a virtuous cycle for JLL [Relation] enable [Effect] it to simultaneously retain top talent and poach employees from its competitors",
    "gold": "[Cause] This dynamic has created a virtuous cycle for JLL [Relation] enable [Effect] it to simultaneously retain top talent and poach employees from its competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, deviation from this expectation (possibly a result of competitive encroachment on the off-price segment or improved production forecasting technology, or conversely a greater-than-anticipated shift from traditional physical retail into the off-price sector) could lead performance to stray from our targets.",
    "output": "[Cause] competitive encroachment on the off-price segment or improved production forecasting technology [Relation] cause [Effect] deviation from this expectation",
    "gold": "[Cause] deviation from this expectation [Relation] cause [Effect]  stray from our targets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, deviation from this expectation (possibly a result of competitive encroachment on the off-price segment or improved production forecasting technology, or conversely a greater-than-anticipated shift from traditional physical retail into the off-price sector) could lead performance to stray from our targets.",
    "output": "[Cause] competitive encroachment on the off-price segment or improved production forecasting technology, or conversely a greater-than-anticipated shift from traditional physical retail into the off-price sector [Relation] cause [Effect] deviation from this expectation",
    "gold": "[Cause] competitive encroachment on the off-price segment or improved production forecasting technology, or conversely a greater-than-anticipated shift from traditional physical retail into the off-price sector [Relation] cause [Effect] deviation from this expectation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After fiscal 2020's pandemic-driven 5.6% organic sales boost, we expect flat organic sales in 2021, as continued at-home eating benefits the first three quarters, which should be offset by a fourth-quarter decline when peak pantry-stocking is lapped.",
    "output": "[Cause] continued at-home eating benefits the first three quarters [Relation] cause [Effect] flat organic sales in 2021",
    "gold": "[Cause]  continued at-home eating [Relation] cause [Effect] benefits the first three quarters",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After fiscal 2020's pandemic-driven 5.6% organic sales boost, we expect flat organic sales in 2021, as continued at-home eating benefits the first three quarters, which should be offset by a fourth-quarter decline when peak pantry-stocking is lapped.",
    "output": "[Cause] continued at-home eating benefits the first three quarters [Relation] cause [Effect] flat organic sales in 2021",
    "gold": "[Cause] peak pantry-stocking is lapped [Relation] cause [Effect] a fourth-quarter decline",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After fiscal 2020's pandemic-driven 5.6% organic sales boost, we expect flat organic sales in 2021, as continued at-home eating benefits the first three quarters, which should be offset by a fourth-quarter decline when peak pantry-stocking is lapped.",
    "output": "[Cause] continued at-home eating benefits the first three quarters [Relation] cause [Effect] flat organic sales in 2021",
    "gold": "[Cause] continued at-home eating benefits the first three quarters [Relation] enable [Effect]  flat organic sales in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Google's continuing investment in machine learning should help increase the effectiveness of ad rankings and placements, resulting in higher ROI for advertisers and increased revenue for Google.",
    "output": "[Cause] Google's continuing investment in machine learning [Relation] enable [Effect] increase the effectiveness of ad rankings and placements",
    "gold": "[Cause] Google's continuing investment in machine learning [Relation] cause [Effect] increase the effectiveness of ad rankings and placements",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Google's continuing investment in machine learning should help increase the effectiveness of ad rankings and placements, resulting in higher ROI for advertisers and increased revenue for Google.",
    "output": "[Cause] increase the effectiveness of ad rankings and placements [Relation] cause [Effect] higher ROI for advertisers and increased revenue for Google",
    "gold": "[Cause] higher ROI for advertisers [Relation] cause [Effect] increased revenue for Google",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, the resources industry is still capital-intensive, and cyclicality provides ample opportunity for management to invest at the wrong points in the cycle.",
    "output": "[Cause] the resources industry is still capital-intensive, and cyclicality [Relation] enable [Effect] ample opportunity for management to invest at the wrong points in the cycle",
    "gold": "[Cause] the resources industry is still capital-intensive, and cyclicality [Relation] cause [Effect] ample opportunity for management to invest at the wrong points in the cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "One of Amazon's key advantages is the operational efficiency of its fulfillment and distribution network, which satisfies consumer demand for free and expedited shipping (including expanded one-day delivery options for Prime members starting in 2019).",
    "output": "[Cause] the operational efficiency of its fulfillment and distribution network [Relation] enable [Effect] satisfies consumer demand for free and expedited shipping",
    "gold": "[Cause] the operational efficiency of its fulfillment and distribution network [Relation] enable [Effect] satisfies consumer demand for free and expedited shipping",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "CP has posted impressive margin improvement in recent years and that trend has continued into 2020 as the firm has quickly and efficiently right sized headcount and assets to demand levels.",
    "output": "[Cause] the firm has quickly and efficiently right sized headcount and assets to demand levels [Relation] cause [Effect] CP has posted impressive margin improvement in recent years and that trend has continued into 2020",
    "gold": "[Cause] the firm has quickly and efficiently right sized headcount and assets to demand levels [Relation] cause [Effect] CP has posted impressive margin improvement in recent years and that trend has continued into 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Recently, legal accruals and other charges have weighed on the bank, but we anticipate these eventually go away, and the bank will return to a more normal operating position.",
    "output": "[Cause] legal accruals and other charges have weighed on the bank [Relation] cause [Effect] the bank will return to a more normal operating position",
    "gold": "[Cause] legal accruals and other charges have weighed on the bank [Relation] prevent [Effect] the bank will return to a more normal operating position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customers may postpone their equipment purchases in times of high borrowing costs as loan demand is negatively correlated with interest rates.",
    "output": "[Cause] loan demand is negatively correlated with interest rates [Relation] cause [Effect] Customers may postpone their equipment purchases in times of high borrowing costs",
    "gold": "[Cause]  high borrowing costs [Relation] cause [Effect] Customers may postpone their equipment purchases in times",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Being the largest restaurant group, Yum China certainly possesses economies of scale, thus wielding considerable influence over suppliers, ensuring access to food and other raw materials at predictable, competitive prices.",
    "output": "[Cause] Yum China certainly possesses economies of scale [Relation] cause [Effect] wielding considerable influence over suppliers, ensuring access to food and other raw materials at predictable, competitive prices",
    "gold": "[Cause] Yum China certainly possesses economies of scale [Relation] cause [Effect] wielding considerable influence over suppliers, ensuring access to food and other raw materials at predictable, competitive prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "According to a 2015 study by GfK, 41% of Dutch respondents had their main personal current account with ING. This provides ING with an enviable source of essentially free funding, additionally ING has a 26% share of Dutch savings deposits.",
    "output": "[Cause] According to a 2015 study by GfK, 41% of Dutch respondents had their main personal current account with ING [Relation] enable [Effect] provides ING with an enviable source of essentially free funding, additionally ING has a 26% share of Dutch savings deposits",
    "gold": "[Cause] According to a 2015 study by GfK, 41% of Dutch respondents had their main personal current account with ING [Relation] enable [Effect] provides ING with an enviable source of essentially free funding, additionally ING has a 26% share of Dutch savings deposits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "CoStar has succesfully established back-end data feeds between CoStar's listing platforms and the CoStar Suite data offering. This process reduces the cost of data procurement as compared with a potential entrant, which would rely on a more manual process.",
    "output": "[Cause] CoStar has succesfully established back-end data feeds between CoStar's listing platforms and the CoStar Suite data offering [Relation] enable [Effect] reduces the cost of data procurement as compared with a potential entrant, which would rely on a more manual process",
    "gold": "[Cause] CoStar has succesfully established back-end data feeds between CoStar's listing platforms and the CoStar Suite data offering [Relation] cause [Effect] reduces the cost of data procurement as compared with a potential entrant, which would rely on a more manual process",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because China lacked reputable food distributors when the company entered the country in the 1990s, KFC had to develop its own distribution infrastructure, which now encompasses 25 logistics facilities, six consolidation centers, and a fleet of approximately 2,100 refrigerated trucks.",
    "output": "[Cause] China lacked reputable food distributors when the company entered the country in the 1990s [Relation] cause [Effect] KFC had to develop its own distribution infrastructure",
    "gold": "[Cause] China lacked reputable food distributors when the company entered the country in the 1990s [Relation] enable [Effect] KFC had to develop its own distribution infrastructure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our valuation does not include a potential sale of the South American industrial chemicals business as a deal has not yet been announced.",
    "output": "[Cause] a deal has not yet been announced [Relation] cause [Effect] Our valuation does not include a potential sale of the South American industrial chemicals business",
    "gold": "[Cause]  a deal has not yet been announced [Relation] cause [Effect] Our valuation does not include a potential sale of the South American industrial chemicals business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, the Macao market is highly regulated, and as a result, the pace and timing of growth are at the discretion of the government.",
    "output": "[Cause] the Macao market is highly regulated [Relation] cause [Effect] the pace and timing of growth are at the discretion of the government",
    "gold": "[Cause] the Macao market is highly regulated [Relation] cause [Effect] the pace and timing of growth are at the discretion of the government",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Spills also occur from time to time during long-haul transit over land, and Occidental could be vulnerable there as well, since it has substantial midstream operations.",
    "output": "[Cause] it has substantial midstream operations [Relation] cause [Effect] Occidental could be vulnerable there as well",
    "gold": "[Cause]  it has substantial midstream operations [Relation] cause [Effect] Spills also occur from time to time during long-haul transit over land, and Occidental could be vulnerable",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Larger clients' cost-reduction steps have forced the Big Five to further consolidate to create cost efficiencies over smaller ad agencies and minimize the impact of possibly lower prices offered by the clients.",
    "output": "[Cause] Larger clients' cost-reduction steps [Relation] cause [Effect] the Big Five to further consolidate",
    "gold": "[Cause] Larger clients' cost-reduction steps [Relation] cause [Effect] the Big Five to further consolidate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Larger clients' cost-reduction steps have forced the Big Five to further consolidate to create cost efficiencies over smaller ad agencies and minimize the impact of possibly lower prices offered by the clients.",
    "output": "[Cause] Larger clients' cost-reduction steps [Relation] enable [Effect] create cost efficiencies over smaller ad agencies and minimize the impact of possibly lower prices offered by the clients",
    "gold": "[Cause] the Big Five to further consolidate [Relation] enable [Effect] create cost efficiencies over smaller ad agencies and minimize the impact of possibly lower prices offered by the clients",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Considering that Medtronic has more attractive near-term prospects in its progress toward closing the loop, we don't expect Medtronic to pose much of a threat to Insulet's niche in the foreseeable future.",
    "output": "[Cause] Medtronic has more attractive near-term prospects in its progress toward closing the loop [Relation] cause [Effect] we don't expect Medtronic to pose much of a threat to Insulet's niche in the foreseeable future",
    "gold": "[Cause] Medtronic has more attractive near-term prospects in its progress toward closing the loop [Relation] cause [Effect] we don't expect Medtronic to pose much of a threat to Insulet's niche in the foreseeable future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In a normalized rate environment, profits and returns are almost certain to be higher than the cost of equity, as the low-cost deposit base remains in place and loans reach more normalized yields, causing net interest margins to expand.",
    "output": "[Cause] the low-cost deposit base remains in place and loans reach more normalized yields [Relation] cause [Effect] profits and returns are almost certain to be higher than the cost of equity",
    "gold": "[Cause] the low-cost deposit base remains in place and loans reach more normalized yields [Relation] cause [Effect] net interest margins to expand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In a normalized rate environment, profits and returns are almost certain to be higher than the cost of equity, as the low-cost deposit base remains in place and loans reach more normalized yields, causing net interest margins to expand.",
    "output": "[Cause] loans reach more normalized yields [Relation] cause [Effect] net interest margins to expand",
    "gold": "[Cause] a normalized rate environment [Relation] cause [Effect] profits and returns are almost certain to be higher than the cost of equity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To do so, the company is undergoing a massive capacity expansion to grow the number of vehicles it can produce.",
    "output": "[Cause] the company is undergoing a massive capacity expansion [Relation] enable [Effect] grow the number of vehicles it can produce",
    "gold": "[Cause]  grow the number of vehicles it can produce [Relation] cause [Effect]  the company is undergoing a massive capacity expansion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect meaningful gross margin expansion for ON over the next five years, as investments in streamlining its manufacturing bear fruit and its top line expands.",
    "output": "[Cause] investments in streamlining its manufacturing bear fruit and its top line expands [Relation] cause [Effect] meaningful gross margin expansion for ON over the next five years",
    "gold": "[Cause] investments in streamlining its manufacturing bear fruit and its top line expands [Relation] enable [Effect]  meaningful gross margin expansion for ON over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While CoreSite has benefited from the cloud trend, it is not aggressively expanding its footprint to simply accommodate cloud providers, which we think is smart, since we don't see competitive advantages in generic data centers, but it does limit CoreSite's addressable market.",
    "output": "[Cause] we don't see competitive advantages in generic data centers [Relation] cause [Effect] it does limit CoreSite's addressable market",
    "gold": "[Cause] we don't see competitive advantages in generic data centers [Relation] cause [Effect] it is not aggressively expanding its footprint to simply accommodate cloud providers, which we think is smart",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Eventually the company will need to attract younger consumers to its brand, when baby boomers become too old to enjoy the RV lifestyle.",
    "output": "[Cause] baby boomers become too old [Relation] cause [Effect] the company will need to attract younger consumers to its brand",
    "gold": "[Cause]  baby boomers become too old [Relation] prevent [Effect] enjoy the RV lifestyle",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Eventually the company will need to attract younger consumers to its brand, when baby boomers become too old to enjoy the RV lifestyle.",
    "output": "[Cause] baby boomers become too old [Relation] cause [Effect] attract younger consumers to its brand",
    "gold": "[Cause]  baby boomers become too old [Relation] enable [Effect] attract younger consumers to its brand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These side effects led Tegsedi partner GlaxoSmithKline to not proceed with a planned phase 3 trial in familial amyloid cardiomyopathy and opt out rights to the drug's commercialization in FAP.",
    "output": "[Cause] These side effects [Relation] cause [Effect] Tegsedi partner GlaxoSmithKline to not proceed with a planned phase 3 trial in familial amyloid cardiomyopathy and opt out rights to the drug's commercialization in FAP",
    "gold": "[Cause] These side effects [Relation] cause [Effect] Tegsedi partner GlaxoSmithKline to not proceed with a planned phase 3 trial in familial amyloid cardiomyopathy and opt out rights to the drug's commercialization in FAP",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customers in these markets demand highly technical, engineered solutions and trust Dover's portfolio of brands to meet both safety and environmental regulatory standards.",
    "output": "[Cause] Customers in these markets demand highly technical, engineered solutions and trust Dover's portfolio of brands [Relation] enable [Effect] meet both safety and environmental regulatory standards",
    "gold": "[Cause] Customers in these markets demand highly technical, engineered solutions and trust Dover's portfolio of brands [Relation] enable [Effect] meet both safety and environmental regulatory standards",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the next 20 years, we think Monolithic's asset-light business model will allow it to continue to earn returns above its cost of capital over the course of the business cycle and through heightened competition as it grows.",
    "output": "[Cause] Monolithic's asset-light business model [Relation] enable [Effect] it to continue to earn returns above its cost of capital over the course of the business cycle and through heightened competition as it grows",
    "gold": "[Cause] Monolithic's asset-light business model [Relation] enable [Effect] it to continue to earn returns above its cost of capital over the course of the business cycle and through heightened competition as it grows",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, investors should know that the company's acquisition activities, while strategically attractive, may constrain returns on invested capital including goodwill for the foreseeable future, which is the key environmental, social, and governance risk the company faces in terms of its governance practices, in our opinion.",
    "output": "[Cause] the company's acquisition activities [Relation] prevent [Effect] returns on invested capital including goodwill for the foreseeable future",
    "gold": "[Cause] the company's acquisition activities [Relation] enable [Effect]  the key environmental, social, and governance risk the company faces in terms of its governance practices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These efforts have driven about 200 basis points of operating margin improvement, resulting in 20% margins for the domestic business and 22% for the international division.",
    "output": "[Cause] These efforts have driven about 200 basis points of operating margin improvement [Relation] cause [Effect] 20% margins for the domestic business and 22% for the international division",
    "gold": "[Cause] efforts [Relation] cause [Effect]  driven about 200 basis points of operating margin improvement",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although we think short-term volatility will negatively affect the commercial real estate industry through the duration of this coronavirus-induced economic downturn, Cushman & Wakefield should continue to benefit from tailwinds affecting its industry.",
    "output": "[Cause] short-term volatility [Relation] prevent [Effect] the commercial real estate industry through the duration of this coronavirus-induced economic downturn",
    "gold": "[Cause] short-term volatility [Relation] prevent [Effect] the commercial real estate industry through the duration of this coronavirus-induced economic downturn",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Based on a sensitivity of market rates (Fully loaded retail rental rates of $35/square feet), we estimate each dollar negotiated in favor of Walgreens would benefit the company $150 million-$200 million annually.",
    "output": "[Cause] a sensitivity of market rates (Fully loaded retail rental rates of $35/square feet) [Relation] cause [Effect] each dollar negotiated in favor of Walgreens would benefit the company $150 million-$200 million annually",
    "gold": "[Cause] a sensitivity of market rates (Fully loaded retail rental rates of $35/square feet) [Relation] cause [Effect] each dollar negotiated in favor of Walgreens would benefit the company $150 million-$200 million annually",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While plans to still enter the middleweight market in 2021 exist, we surmise it will occur in a much more methodical way, derisking rapid average selling price declines. These pivots will likely help restore a significant amount of gross margin loss, potentially helping motorcycle operating margins return to a low-teens level over our forecast from an adjusted 9% in 2019.",
    "output": "[Cause] While plans to still enter the middleweight market in 2021 exist, we surmise it will occur in a much more methodical way, derisking rapid average selling price declines [Relation] cause [Effect] restore a significant amount of gross margin loss, potentially helping motorcycle operating margins return to a low-teens level over our forecast from an adjusted 9% in 2019",
    "gold": "[Cause] While plans to still enter the middleweight market in 2021 exist, we surmise it will occur in a much more methodical way, derisking rapid average selling price declines [Relation] enable [Effect] restore a significant amount of gross margin loss, potentially helping motorcycle operating margins return to a low-teens level over our forecast from an adjusted 9% in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Oregon has faced the opposite problem, as an excessive amount of cultivation licences has led to market oversupply, driving lower prices.",
    "output": "[Cause] an excessive amount of cultivation licences has led to market oversupply, driving lower prices [Relation] cause [Effect] Oregon has faced the opposite problem",
    "gold": "[Cause] an excessive amount of cultivation licences [Relation] cause [Effect]  market oversupply, driving lower prices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This should not affect our uncertainty rating unless travel demand returns to near zero for an extended period, leading to the potential need for incremental liquidity, which could occur at value-destructive levels.",
    "output": "[Cause] travel demand returns to near zero for an extended period [Relation] cause [Effect] affect our uncertainty rating",
    "gold": "[Cause] travel demand returns to near zero for an extended period [Relation] cause [Effect]  the potential need for incremental liquidity, which could occur at value-destructive levels",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This should not affect our uncertainty rating unless travel demand returns to near zero for an extended period, leading to the potential need for incremental liquidity, which could occur at value-destructive levels.",
    "output": "[Cause] travel demand returns to near zero for an extended period [Relation] cause [Effect] the potential need for incremental liquidity",
    "gold": "[Cause] travel demand returns to near zero for an extended period [Relation] cause [Effect] affect our uncertainty rating",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over the past century, Caterpillar has skillfully constructed a product portfolio that has made it the largest construction and mining equipment manufacturer in the world.",
    "output": "[Cause] Caterpillar has skillfully constructed a product portfolio [Relation] enable [Effect] it the largest construction and mining equipment manufacturer in the world",
    "gold": "[Cause] Caterpillar has skillfully constructed a product portfolio [Relation] enable [Effect] it the largest construction and mining equipment manufacturer in the world",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that this results in sticky customer relationships as clients want to ensure that their production lines continue to operate smoothly.",
    "output": "[Cause] clients want to ensure that their production lines continue to operate smoothly [Relation] cause [Effect] sticky customer relationships",
    "gold": "[Cause] clients want to ensure that their production lines continue to operate smoothly [Relation] cause [Effect] sticky customer relationships",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For customers, switching to an alternative provider that is working to improve its dealer network poses significant risk to their operations, with the potential for disruptions from machine failures and long lead times to service equipment.",
    "output": "[Cause] switching to an alternative provider that is working to improve its dealer network [Relation] cause [Effect] significant risk to their operations, with the potential for disruptions from machine failures and long lead times to service equipment",
    "gold": "[Cause] the potential for disruptions from machine failures and long lead times to service equipment [Relation] cause [Effect] switching to an alternative provider that is working to improve its dealer network poses significant risk to their operations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Driving QCT growth is the 5G ramp, regained share at Apple for 5G modems, increased RF front-end content, as well as adjacencies such as automotive for Qualcomm's Snapdragon chipsets among other products.",
    "output": "[Cause] the 5G ramp, regained share at Apple for 5G modems, increased RF front-end content, as well as adjacencies such as automotive for Qualcomm's Snapdragon chipsets among other products [Relation] enable [Effect] Driving QCT growth",
    "gold": "[Cause] the 5G ramp, regained share at Apple for 5G modems, increased RF front-end content, as well as adjacencies such as automotive for Qualcomm's Snapdragon chipsets among other products [Relation] cause [Effect] Driving QCT growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For Keurig, partnerships should continue to be a potent factor pulling consumers into its ecosystem, and management has thus far been successful in increasing penetration through various pricing and innovation initiatives in pods and brewers.",
    "output": "[Cause] various pricing and innovation initiatives in pods and brewers [Relation] enable [Effect] increasing penetration",
    "gold": "[Cause] various pricing and innovation initiatives in pods and brewers [Relation] enable [Effect] increasing penetration",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the consolidation of local station ownership, firms like Nexstar began to sell national advertising, as the station coverage could allow advertisers to reach a larger daytime audience.",
    "output": "[Cause] the station coverage could allow advertisers to reach a larger daytime audience [Relation] cause [Effect] firms like Nexstar began to sell national advertising",
    "gold": "[Cause] the station coverage could allow advertisers to reach a larger daytime audience [Relation] cause [Effect] firms like Nexstar began to sell national advertising",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Having 34% of its AUM dedicated to alternative strategies (which includes multi-strategy, market-neutral, and hedge products) and 17% committed to multi-asset strategies and other products at the end of last year, AMG is not as heavily exposed to the impact that passive investing has had on active equities.",
    "output": "[Cause] Having 34% of its AUM dedicated to alternative strategies (which includes multi-strategy, market-neutral, and hedge products) and 17% committed to multi-asset strategies and other products at the end of last year [Relation] cause [Effect] AMG is not as heavily exposed to the impact that passive investing has had on active equities",
    "gold": "[Cause] Having 34% of its AUM dedicated to alternative strategies (which includes multi-strategy, market-neutral, and hedge products) and 17% committed to multi-asset strategies and other products at the end of last year [Relation] cause [Effect] AMG is not as heavily exposed to the impact that passive investing has had on active equities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Specific to Glaxo, increased generic competition is emerging for leading drug Advair, which could be detrimental to the company as the drug represents close to 4% of the top line and a higher portion of the bottom line because of its high margins.",
    "output": "[Cause] increased generic competition is emerging for leading drug Advair [Relation] cause [Effect] detrimental to the company",
    "gold": "[Cause] increased generic competition is emerging for leading drug Advair [Relation] cause [Effect]  detrimental to the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Specific to Glaxo, increased generic competition is emerging for leading drug Advair, which could be detrimental to the company as the drug represents close to 4% of the top line and a higher portion of the bottom line because of its high margins.",
    "output": "[Cause] increased generic competition is emerging for leading drug Advair [Relation] cause [Effect] detrimental to the company",
    "gold": "[Cause] the drug represents close to 4% of the top line and a higher portion of the bottom line because of its high margins [Relation] cause [Effect]  detrimental to the company",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Specific to Glaxo, increased generic competition is emerging for leading drug Advair, which could be detrimental to the company as the drug represents close to 4% of the top line and a higher portion of the bottom line because of its high margins.",
    "output": "[Cause] increased generic competition is emerging for leading drug Advair [Relation] cause [Effect] detrimental to the company",
    "gold": "[Cause] its high margins [Relation] enable [Effect] a higher portion of the bottom line",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As domestic systemically important banks, rating agency's expect the banks to receive support from the government in a crisis, reflected in the explicit 2 notch uplift in their ratings.",
    "output": "[Cause] domestic systemically important banks [Relation] cause [Effect] rating agency's expect the banks to receive support from the government in a crisis",
    "gold": "[Cause]  the explicit 2 notch uplift in their ratings. [Relation] enable [Effect]  rating agency's expect the banks to receive support from the government in a crisis",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think revenue will grow by 29% on average over the next five years and will moderate to 16% annual growth over the last five years of our explicit projection. This growth will be driven by active accounts expanding from 51.2 million at the end of 2020 to 92.8 million in 2025 and 121.6 million in 2030.",
    "output": "[Cause] active accounts expanding from 51.2 million at the end of 2020 to 92.8 million in 2025 and 121.6 million in 2030 [Relation] enable [Effect] revenue will grow by 29% on average over the next five years and will moderate to 16% annual growth over the last five years of our explicit projection",
    "gold": "[Cause] active accounts expanding from 51.2 million at the end of 2020 to 92.8 million in 2025 and 121.6 million in 2030 [Relation] enable [Effect] revenue will grow by 29% on average over the next five years and will moderate to 16% annual growth over the last five years of our explicit projection",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have NIMs staying stuck below what they previously were, due to changes in the balance sheet which affect asset yields.",
    "output": "[Cause] changes in the balance sheet which affect asset yields [Relation] cause [Effect] We have NIMs staying stuck below what they previously were",
    "gold": "[Cause] changes in the balance sheet which affect asset yields [Relation] cause [Effect] We have NIMs staying stuck below what they previously were",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company took significant steps toward its current incarnation as a manufacturer of heavy-duty trucks with the acquisitions of Kenworth in 1945, Peterbilt in 1958, and DAF in 1996.",
    "output": "[Cause] the acquisitions of Kenworth in 1945, Peterbilt in 1958, and DAF in 1996 [Relation] enable [Effect] The company took significant steps toward its current incarnation as a manufacturer of heavy-duty trucks",
    "gold": "[Cause] the acquisitions of Kenworth in 1945, Peterbilt in 1958, and DAF in 1996 [Relation] enable [Effect] The company took significant steps toward its current incarnation as a manufacturer of heavy-duty trucks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Afterward, we expect the cadence to hit management's 10% annual store count expansion target from 2022-24, on average, before tapering into the mid-single digits as the store network grows.",
    "output": "[Cause] the store network grows [Relation] cause [Effect] tapering into the mid-single digits",
    "gold": "[Cause] the store network grows [Relation] enable [Effect]  tapering into the mid-single digits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we think Dexcom could cede market share to Abbott and Medtronic, as their products improve on accuracy, user ease, and offer additional features that Dexcom does not.",
    "output": "[Cause] their products improve on accuracy, user ease, and offer additional features that Dexcom does not [Relation] cause [Effect] Dexcom could cede market share to Abbott and Medtronic",
    "gold": "[Cause]  their products improve on accuracy, user ease, and offer additional features that Dexcom does not [Relation] cause [Effect] Dexcom could cede market share to Abbott and Medtronic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are increasing our fair value estimate to $42 per share from $40 after Vontier reported solid first-quarter results and raised its guidance for full-year 2021.",
    "output": "[Cause] Vontier reported solid first-quarter results and raised its guidance for full-year 2021 [Relation] cause [Effect] We are increasing our fair value estimate to $42 per share from $40",
    "gold": "[Cause] Vontier reported solid first-quarter results and raised its guidance for full-year 2021 [Relation] cause [Effect] We are increasing our fair value estimate to $42 per share from $40",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "NICE's software is thus mission critical as the product is essential in maintaining external relationships and providing a high quality of service.",
    "output": "[Cause] the product is essential in maintaining external relationships and providing a high quality of service [Relation] cause [Effect] NICE's software is thus mission critical",
    "gold": "[Cause]  the product is essential in maintaining external relationships and providing a high quality of service [Relation] cause [Effect] NICE's software is thus mission critical",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With operations in 18 African countries, we think the region presents significant growth opportunities due to current low mobile penetration rates.",
    "output": "[Cause] current low mobile penetration rates [Relation] cause [Effect] the region presents significant growth opportunities",
    "gold": "[Cause] current low mobile penetration rates [Relation] cause [Effect] the region presents significant growth opportunities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the largest risk to Prudential would be a deterioration in the quality of its IT infrastructure and distribution network.",
    "output": "[Cause] a deterioration in the quality of its IT infrastructure and distribution network [Relation] cause [Effect] the largest risk to Prudential",
    "gold": "[Cause] the largest risk to Prudential [Relation] prevent [Effect] a deterioration in the quality of its IT infrastructure and distribution network.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Conagra does not have demonstrated pricing power on 75% of its revenue base, so it may not be able to fully offset cost inflation.",
    "output": "[Cause] Conagra does not have demonstrated pricing power on 75% of its revenue base [Relation] cause [Effect] it may not be able to fully offset cost inflation",
    "gold": "[Cause] Conagra does not have demonstrated pricing power on 75% of its revenue base [Relation] cause [Effect]  it may not be able to fully offset cost inflation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Diamondback's West Texas Intermediate break-evens are less than $30 per barrel for the marginal well. As such, the company is better positioned to cope with very weak oil prices than most peers, and at our midcycle forecast--currently $55/bbl (WTI)--it can really thrive.",
    "output": "[Cause] Diamondback's West Texas Intermediate break-evens are less than $30 per barrel for the marginal well [Relation] cause [Effect] the company is better positioned to cope with very weak oil prices than most peers, and at our midcycle forecast--currently $55/bbl (WTI)--it can really thrive",
    "gold": "[Cause] Diamondback's West Texas Intermediate break-evens are less than $30 per barrel for the marginal well [Relation] cause [Effect] the company is better positioned to cope with very weak oil prices than most peers, and at our midcycle forecast--currently $55/bbl (WTI)--it can really thrive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see a low materiality impact, as Nutrien already has a plan to reduce carbon emissions in its nitrogen operations and increase the use of more-renewable energy at its potash operations.",
    "output": "[Cause] Nutrien already has a plan to reduce carbon emissions in its nitrogen operations and increase the use of more-renewable energy at its potash operations [Relation] cause [Effect] a low materiality impact",
    "gold": "[Cause] Nutrien already has a plan to reduce carbon emissions in its nitrogen operations and increase the use of more-renewable energy at its potash operations [Relation] cause [Effect]  a low materiality impact",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thanks to improved cost efficiencies and acquisition of Noble Energy, Chevron still plans to grow production to 3.5 mmboe/d by 2025 from 3.1 mmboe/d in 2020.",
    "output": "[Cause] improved cost efficiencies and acquisition of Noble Energy [Relation] enable [Effect] Chevron still plans to grow production to 3.5 mmboe/d by 2025 from 3.1 mmboe/d in 2020",
    "gold": "[Cause]  improved cost efficiencies and acquisition of Noble Energy [Relation] cause [Effect] Chevron still plans to grow production to 3.5 mmboe/d by 2025 from 3.1 mmboe/d in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The primary risk that Ameren faces is regulatory, since most of its revenue and earnings are generated by its regulated utilities.",
    "output": "[Cause] most of its revenue and earnings are generated by its regulated utilities [Relation] cause [Effect] The primary risk that Ameren faces is regulatory",
    "gold": "[Cause] most of its revenue and earnings are generated by its regulated utilities [Relation] cause [Effect] The primary risk that Ameren faces is regulatory",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The current portfolio is more competitive, but the development cost requirements are heavily front-load. Therefore, it could still be several years before the firm consistently earns its cost of capital, though returns are improving steadily.",
    "output": "[Cause] The current portfolio is more competitive, but the development cost requirements are heavily front-load [Relation] cause [Effect] it could still be several years before the firm consistently earns its cost of capital, though returns are improving steadily",
    "gold": "[Cause] The current portfolio is more competitive, but the development cost requirements are heavily front-load [Relation] cause [Effect] it could still be several years before the firm consistently earns its cost of capital, though returns are improving steadily",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, top product Rebif continues to decline moderately as new multiple sclerosis treatment options--such as Ocrevus, Gilenya, Aubagio, and Tecfidera--have stolen market share in recent years.",
    "output": "[Cause] new multiple sclerosis treatment options--such as Ocrevus, Gilenya, Aubagio, and Tecfidera--have stolen market share in recent years [Relation] cause [Effect] top product Rebif continues to decline moderately",
    "gold": "[Cause] new multiple sclerosis treatment options--such as Ocrevus, Gilenya, Aubagio, and Tecfidera--have stolen market share in recent years [Relation] cause [Effect] top product Rebif continues to decline moderately",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Eldorado was able to integrate its decentralized business model, which aided in reducing Isle's corporate and property level (marketing and labor) cost structure, which allows individual casino property managers autonomy to customize offerings relevant to local markets.",
    "output": "[Cause] Eldorado was able to integrate its decentralized business model [Relation] enable [Effect] reducing Isle's corporate and property level (marketing and labor) cost structure",
    "gold": "[Cause] Eldorado was able to integrate its decentralized business model [Relation] enable [Effect] reducing Isle's corporate and property level (marketing and labor) cost structure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Eldorado was able to integrate its decentralized business model, which aided in reducing Isle's corporate and property level (marketing and labor) cost structure, which allows individual casino property managers autonomy to customize offerings relevant to local markets.",
    "output": "[Cause] Eldorado was able to integrate its decentralized business model [Relation] enable [Effect] individual casino property managers autonomy to customize offerings relevant to local markets",
    "gold": "[Cause] Eldorado was able to integrate its decentralized business model [Relation] enable [Effect] individual casino property managers autonomy to customize offerings relevant to local markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This reflects our view that, outside of significant asset injection or acquisitions, the organic growth of the firm's oil and gas output will be driven by gas field development.",
    "output": "[Cause] gas field development [Relation] enable [Effect] the organic growth of the firm's oil and gas output",
    "gold": "[Cause] gas field development | significant asset injection or acquisitions [Relation] enable [Effect] the organic growth of the firm's oil and gas output",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Having said that, the current negative interest rate environment is damaging to Credit Suisse's net interest income as Credit Suisse's strong deposit franchise provides it with ample surplus liquidity that it needs to invest in short-term risk-free assets that currently pays no or negative interest.",
    "output": "[Cause] Credit Suisse's strong deposit franchise provides it with ample surplus liquidity that it needs to invest in short-term risk-free assets that currently pays no or negative interest [Relation] cause [Effect] the current negative interest rate environment is damaging to Credit Suisse's net interest income",
    "gold": "[Cause] Credit Suisse's strong deposit franchise provides it with ample surplus liquidity [Relation] enable [Effect] it needs to invest in short-term risk-free assets that currently pays no or negative interest.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, with the likely peaking of China's steel consumption and increasing supply in response to higher prices, we think met coal is likely to be well supplied for the foreseeable future.",
    "output": "[Cause] the likely peaking of China's steel consumption and increasing supply in response to higher prices [Relation] cause [Effect] met coal is likely to be well supplied for the foreseeable future",
    "gold": "[Cause] the likely peaking of China's steel consumption and increasing supply in response to higher prices [Relation] cause [Effect] met coal is likely to be well supplied for the foreseeable future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're expecting capital expenditures to be about $600 million in 2021, as Southwest has deferred many of its orders from Boeing, and will average around $2 billion per year over our explicit forecast period.",
    "output": "[Cause] Southwest has deferred many of its orders from Boeing [Relation] cause [Effect] We're expecting capital expenditures to be about $600 million in 2021",
    "gold": "[Cause]  Southwest has deferred many of its orders from Boeing [Relation] cause [Effect] average around $2 billion per year over our explicit forecast period",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, SS&C's fund administration business (approximately $1 billion in annual revenue) only has modest exposure to equity markets, as its hedge fund client basis includes a diverse set of funds, including long-short funds, commodity funds, credit funds, event-driven funds, and other types of hedge funds.",
    "output": "[Cause] its hedge fund client basis includes a diverse set of funds, including long-short funds, commodity funds, credit funds, event-driven funds, and other types of hedge funds [Relation] cause [Effect] SS&C's fund administration business (approximately $1 billion in annual revenue) only has modest exposure to equity markets",
    "gold": "[Cause] its hedge fund client basis includes a diverse set of funds, including long-short funds, commodity funds, credit funds, event-driven funds, and other types of hedge funds [Relation] cause [Effect] SS&C's fund administration business (approximately $1 billion in annual revenue) only has modest exposure to equity markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that when consumers replace or think about purchasing products in the snowmobile and off-road categories, they tend to want the best products with the newest technology, which is what Polaris provides, yielding stability in pricing and solid brand perception.",
    "output": "[Cause] consumers replace or think about purchasing products in the snowmobile and off-road categories [Relation] cause [Effect] they tend to want the best products with the newest technology",
    "gold": "[Cause] consumers replace or think about purchasing products in the snowmobile and off-road categories [Relation] cause [Effect] they tend to want the best products with the newest technology",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that when consumers replace or think about purchasing products in the snowmobile and off-road categories, they tend to want the best products with the newest technology, which is what Polaris provides, yielding stability in pricing and solid brand perception.",
    "output": "[Cause] they tend to want the best products with the newest technology [Relation] cause [Effect] yielding stability in pricing and solid brand perception",
    "gold": "[Cause] they tend to want the best products with the newest technology [Relation] cause [Effect] yielding stability in pricing and solid brand perception",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2021, we expect the recent surge in airfreight tonnage and pricing to normalize somewhat, but underlying air and ocean demand should remain healthy throughout the first half on heavy inventory restocking.",
    "output": "[Cause] heavy inventory restocking [Relation] cause [Effect] underlying air and ocean demand should remain healthy throughout the first half",
    "gold": "[Cause] [Relation] prevent [Effect]  we expect the recent surge in airfreight tonnage and pricing to normalize somewhat |  but underlying air and ocean demand should remain healthy throughout the first half on heavy inventory restocking",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think that the company will see declines in other revenue stabilize over the next five years as Accenture skews its revenue mix away from some commoditized outsourcing services.",
    "output": "[Cause] Accenture skews its revenue mix away from some commoditized outsourcing services [Relation] cause [Effect] the company will see declines in other revenue stabilize over the next five years",
    "gold": "[Cause] Accenture skews its revenue mix away from some commoditized outsourcing services [Relation] enable [Effect] the company will see declines in other revenue stabilize over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Garmin's customer base finds it hard to leave the Garmin ecosystem after acquiring a familiarity with the products' capabilities and likely considering them best of breed.",
    "output": "[Cause] acquiring a familiarity with the products' capabilities [Relation] cause [Effect] Garmin's customer base finds it hard to leave the Garmin ecosystem",
    "gold": "[Cause] acquiring a familiarity with the products' capabilities [Relation] enable [Effect] Garmin's customer base finds it hard to leave the Garmin ecosystem",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, with no on-net footprint, GTT gives its full attention to off-net customers, which can translate to better customer service.",
    "output": "[Cause] no on-net footprint [Relation] cause [Effect] GTT gives its full attention to off-net customers",
    "gold": "[Cause] no on-net footprint [Relation] cause [Effect] GTT gives its full attention to off-net customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, with no on-net footprint, GTT gives its full attention to off-net customers, which can translate to better customer service.",
    "output": "[Cause] GTT gives its full attention to off-net customers [Relation] enable [Effect] translate to better customer service",
    "gold": "[Cause] GTT gives its full attention to off-net customers [Relation] enable [Effect]  translate to better customer service",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Maxim and its chipmaking peers tend to profit from these high switching costs by having lower ongoing R&amp;D and capital expenditure investments than digital chipmakers, which helps to contribute to healthy returns on capital for shareholders.",
    "output": "[Cause] Maxim and its chipmaking peers tend to profit from these high switching costs by having lower ongoing R&amp;D and capital expenditure investments than digital chipmakers [Relation] enable [Effect] contribute to healthy returns on capital for shareholders",
    "gold": "[Cause] these high switching costs by having lower ongoing R&amp;D [Relation] enable [Effect] Maxim and its chipmaking peers tend to profit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Overall, staffing demand ebbs and flows with economic activity as employers reduce or add headcount to their workforce based on demand for their services and business sentiment.",
    "output": "[Cause] employers reduce or add headcount to their workforce based on demand for their services and business sentiment [Relation] cause [Effect] staffing demand ebbs and flows with economic activity",
    "gold": "[Cause]  economic activity as employers reduce or add headcount [Relation] cause [Effect] staffing demand ebbs and flows",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While Infosys' products and platforms segment only accounts for 6% of revenue, we believe these offerings help drive business to software services, as they require maintenance, which helps the company's overall stickiness.",
    "output": "[Cause] they require maintenance [Relation] cause [Effect] these offerings help drive business to software services",
    "gold": "[Cause] they require maintenance [Relation] cause [Effect] these offerings help drive business to software services",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Infosys' products and platforms segment only accounts for 6% of revenue, we believe these offerings help drive business to software services, as they require maintenance, which helps the company's overall stickiness.",
    "output": "[Cause] they require maintenance [Relation] cause [Effect] these offerings help drive business to software services",
    "gold": "[Cause] these offerings help drive business to software services [Relation] enable [Effect] helps the company's overall stickiness",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "It also has high ductility, meaning it can be made into a wire, given its ability to stretch under high-tensile stress.",
    "output": "[Cause] its ability to stretch under high-tensile stress [Relation] cause [Effect] It also has high ductility, meaning it can be made into a wire",
    "gold": "[Cause] high ductility [Relation] cause [Effect] given its ability to stretch under high-tensile stress",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Hyatt has switching costs--an additional source of its narrow moat rating--through its managed or franchised rooms, which were 57% of total EBITDA (excluding corporate expense) in the prepandemic year of 2019. These asset-light rooms not only offer high returns on invested capital but also provide contract lengths of 20-30 years that are costly to terminate.",
    "output": "[Cause] Hyatt has switching costs--an additional source of its narrow moat rating--through its managed or franchised rooms, which were 57% of total EBITDA (excluding corporate expense) in the prepandemic year of 2019 [Relation] enable [Effect] offer high returns on invested capital but also provide contract lengths of 20-30 years that are costly to terminate",
    "gold": "[Cause] Hyatt has switching costs--an additional source of its narrow moat rating--through its managed or franchised rooms, which were 57% of total EBITDA (excluding corporate expense) in the prepandemic year of 2019 [Relation] enable [Effect] offer high returns on invested capital but also provide contract lengths of 20-30 years that are costly to terminate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "CrowdStrike's method differs from competition who either store data on the endpoint, which requires resource-straining remote queries, or who send all data to the cloud, which can tax networks and have expense implications.",
    "output": "[Cause] store data on the endpoint [Relation] cause [Effect] requires resource-straining remote queries",
    "gold": "[Cause] store data on the endpoint [Relation] cause [Effect] requires resource-straining remote queries",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "CrowdStrike's method differs from competition who either store data on the endpoint, which requires resource-straining remote queries, or who send all data to the cloud, which can tax networks and have expense implications.",
    "output": "[Cause] send all data to the cloud [Relation] enable [Effect] tax networks and have expense implications",
    "gold": "[Cause] send all data to the cloud [Relation] enable [Effect] tax networks and have expense implications",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, we think Behr enjoys relatively low logistics costs because it has built its manufacturing and distribution facilities around a national home improvement behemoth with its own world-class distribution network.",
    "output": "[Cause] it has built its manufacturing and distribution facilities around a national home improvement behemoth with its own world-class distribution network [Relation] cause [Effect] Behr enjoys relatively low logistics costs",
    "gold": "[Cause] it has built its manufacturing and distribution facilities around a national home improvement behemoth with its own world-class distribution network [Relation] cause [Effect] Behr enjoys relatively low logistics costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume ASP grows at a modest 1.5% CAGR through 2030 due to a continued mix shift to lower-priced Express and Freedom homes.",
    "output": "[Cause] a continued mix shift to lower-priced Express and Freedom homes [Relation] cause [Effect] ASP grows at a modest 1.5% CAGR through 2030",
    "gold": "[Cause]  a continued mix shift to lower-priced Express and Freedom homes [Relation] enable [Effect] ASP grows at a modest 1.5% CAGR through 2030",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we anticipate Sensata's organic sales will keep up with their respective geographic markets, content gains should allow the firm to outpace global automotive production growth, while also broadening potential switching costs and potentially insulating revenue and profits from the worst of the auto industry's cyclical downturns.",
    "output": "[Cause] Sensata's organic sales will keep up with their respective geographic markets [Relation] cause [Effect] content gains should allow the firm to outpace global automotive production growth",
    "gold": "[Cause] content gains [Relation] enable [Effect] the firm to outpace global automotive production growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we anticipate Sensata's organic sales will keep up with their respective geographic markets, content gains should allow the firm to outpace global automotive production growth, while also broadening potential switching costs and potentially insulating revenue and profits from the worst of the auto industry's cyclical downturns.",
    "output": "[Cause] content gains [Relation] enable [Effect] the firm to outpace global automotive production growth",
    "gold": "[Cause] the auto industry's cyclical downturns [Relation] prevent [Effect] revenue and profits",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The two services build on the firm's strong content creation abilities, deep programming library, and the secular trend toward greater streaming adoption. As a result, Paramount+ can still carve out a position in this intensely competitive market despite the large head start of the incumbents.",
    "output": "[Cause] The two services build on the firm's strong content creation abilities, deep programming library, and the secular trend toward greater streaming adoption [Relation] cause [Effect] Paramount+ can still carve out a position in this intensely competitive market despite the large head start of the incumbents",
    "gold": "[Cause] The two services build on the firm's strong content creation abilities, deep programming library, and the secular trend toward greater streaming adoption [Relation] cause [Effect] Paramount+ can still carve out a position in this intensely competitive market despite the large head start of the incumbents",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Marvell will be able to leverage its scale to successfully benefit from the capabilities of Inphi (as well as Cavium, Avera and, Acquantia), thus increasing the firm's growth and profit potential.",
    "output": "[Cause] Marvell will be able to leverage its scale to successfully benefit from the capabilities of Inphi (as well as Cavium, Avera and, Acquantia) [Relation] enable [Effect] increasing the firm's growth and profit potential",
    "gold": "[Cause] Marvell will be able to leverage its scale to successfully benefit from the capabilities of Inphi (as well as Cavium, Avera and, Acquantia) [Relation] cause [Effect] increasing the firm's growth and profit potential",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ARM is the de facto architecture in effectively every smartphone, and its low-power efficiency has the potential to result in a superior performance per watt metric relative to incumbent x86 Intel and AMD server CPUs.",
    "output": "[Cause] its low-power efficiency [Relation] enable [Effect] a superior performance per watt metric relative to incumbent x86 Intel and AMD server CPUs",
    "gold": "[Cause]  its low-power efficiency [Relation] enable [Effect] a superior performance per watt metric relative to incumbent x86 Intel and AMD server CPUs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because many components can have numerous spare parts, we think it would be prohibitively expensive for firms to re-engineer enough parts to meaningfully challenge TransDigm's sole-source incumbency on spare parts.",
    "output": "[Cause] many components can have numerous spare parts [Relation] cause [Effect] it would be prohibitively expensive for firms to re-engineer enough parts to meaningfully challenge TransDigm's sole-source incumbency on spare parts",
    "gold": "[Cause]  many components can have numerous spare parts [Relation] cause [Effect]  it would be prohibitively expensive for firms to re-engineer enough parts to meaningfully challenge TransDigm's sole-source incumbency on spare parts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This subscription-based service automatically sends ink refills when the printer is running low on ink, and HP charges more per page if the chosen monthly allotment of printed pages is exceeded.",
    "output": "[Cause] the chosen monthly allotment of printed pages is exceeded [Relation] cause [Effect] HP charges more per page",
    "gold": "[Cause] the chosen monthly allotment of printed pages is exceeded [Relation] cause [Effect] HP charges more per page",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In nourish, we assume an above-market growth rate as the company's plant-based protein business should see elevated sales due to growing consumer demand as well as consumer preferences for more natural flavors.",
    "output": "[Cause] growing consumer demand as well as consumer preferences for more natural flavors [Relation] cause [Effect] the company's plant-based protein business should see elevated sales",
    "gold": "[Cause] growing consumer demand as well as consumer preferences for more natural flavors [Relation] cause [Effect] we assume an above-market growth rate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In nourish, we assume an above-market growth rate as the company's plant-based protein business should see elevated sales due to growing consumer demand as well as consumer preferences for more natural flavors.",
    "output": "[Cause] growing consumer demand as well as consumer preferences for more natural flavors [Relation] cause [Effect] the company's plant-based protein business should see elevated sales",
    "gold": "[Cause] growing consumer demand as well as consumer preferences for more natural flavors [Relation] cause [Effect] the company's plant-based protein business should see elevated sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With profit margins also expected to be under pressure (as asset managers spend more heavily to improve investment performance and enhance distribution capabilities), we believe much of the operating leverage inherent in the business will be blunted.",
    "output": "[Cause] profit margins also expected to be under pressure (as asset managers spend more heavily to improve investment performance and enhance distribution capabilities) [Relation] cause [Effect] much of the operating leverage inherent in the business will be blunted",
    "gold": "[Cause] profit margins also expected to be under pressure (as asset managers spend more heavily to improve investment performance and enhance distribution capabilities) [Relation] cause [Effect] much of the operating leverage inherent in the business will be blunted",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Schnitzer's shipping operations benefit from economies of scale thanks to the seven deep-water port terminals from which the company operates.",
    "output": "[Cause] the seven deep-water port terminals from which the company operates [Relation] enable [Effect] Schnitzer's shipping operations benefit from economies of scale",
    "gold": "[Cause] the seven deep-water port terminals from which the company operates [Relation] enable [Effect] Schnitzer's shipping operations benefit from economies of scale",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nearly 100% of its production is handled by roughly 1,200 factories in 40 countries that are not owned by the company, indicating that PVH has no cost advantage over the many other apparel companies with similar outsourcing models.",
    "output": "[Cause] Nearly 100% of its production is handled by roughly 1,200 factories in 40 countries that are not owned by the company [Relation] cause [Effect] PVH has no cost advantage over the many other apparel companies with similar outsourcing models",
    "gold": "[Cause] Nearly 100% of its production is handled by roughly 1,200 factories in 40 countries that are not owned by the company [Relation] enable [Effect]  PVH has no cost advantage over the many other apparel companies with similar outsourcing models",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Specifically on Grail, that technology could be a massive hit for Illumina if it can reach even a fraction of the roughly $60 billion market opportunity that early-stage cancer detection represents.",
    "output": "[Cause] it can reach even a fraction of the roughly $60 billion market opportunity that early-stage cancer detection represents [Relation] cause [Effect] technology could be a massive hit for Illumina",
    "gold": "[Cause]  technology [Relation] cause [Effect] a massive hit for Illumina",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We are further reassured about the company's improving financial position with total liquidity over $1.4 billion at the end of first-quarter 2021, driven by strong cash flow generation.",
    "output": "[Cause] strong cash flow generation [Relation] cause [Effect] We are further reassured about the company's improving financial position with total liquidity over $1.4 billion at the end of first-quarter 2021",
    "gold": "[Cause] strong cash flow generation [Relation] enable [Effect] We are further reassured about the company's improving financial position with total liquidity over $1.4 billion at the end of first-quarter 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Though core nonmortgage volume was under pressure, mortgage volume was strong due to the large amount of refinancing as interest rates went south amid COVID-19.",
    "output": "[Cause] interest rates went south amid COVID-19 [Relation] cause [Effect] mortgage volume was strong",
    "gold": "[Cause] the large amount of refinancing [Relation] cause [Effect] mortgage volume was strong",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Though core nonmortgage volume was under pressure, mortgage volume was strong due to the large amount of refinancing as interest rates went south amid COVID-19.",
    "output": "[Cause] interest rates went south amid COVID-19 [Relation] cause [Effect] mortgage volume was strong",
    "gold": "[Cause] interest rates went south amid COVID-19 [Relation] cause [Effect] mortgage volume was strong",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The strategy contrasts with many peers as its more focused and related to existing operations than peers who are pushing into all varieties of renewable power generation or distribution and low-carbon businesses.",
    "output": "[Cause] its more focused and related to existing operations than peers who are pushing into all varieties of renewable power generation or distribution and low-carbon businesses [Relation] cause [Effect] The strategy contrasts with many peers",
    "gold": "[Cause] its more focused and related to existing operations than peers who are pushing into all varieties of renewable power generation or distribution and low-carbon businesses [Relation] cause [Effect] The strategy contrasts with many peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Unlike its competitors, ITW's innovation efforts are incremental, often adding small but effective twists to its product lines, allowing it to spend far less on research and development.",
    "output": "[Cause] ITW's innovation efforts are incremental [Relation] enable [Effect] spending far less on research and development",
    "gold": "[Cause] ITW's innovation efforts are incremental [Relation] enable [Effect] allowing it to spend far less on research and development",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our opinion ING has surplus capital, which could boost shareholder returns and a more focused geographical strategy could drive a rerating.",
    "output": "[Cause] ING has surplus capital [Relation] enable [Effect] boost shareholder returns",
    "gold": "[Cause]  shareholder returns [Relation] enable [Effect] ING has surplus capital",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our opinion ING has surplus capital, which could boost shareholder returns and a more focused geographical strategy could drive a rerating.",
    "output": "[Cause] ING has surplus capital [Relation] cause [Effect] drive a rerating",
    "gold": "[Cause] a more focused geographical strategy [Relation] enable [Effect] ING has surplus capital",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our opinion ING has surplus capital, which could boost shareholder returns and a more focused geographical strategy could drive a rerating.",
    "output": "[Cause] ING has surplus capital [Relation] cause [Effect] drive a rerating",
    "gold": "[Cause] ING has surplus capital [Relation] cause [Effect]  drive a rerating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For the chemical segment, we expect soft earnings in the next couple of years, given global oversupply and impact on demand of the coronavirus pandemic.",
    "output": "[Cause] global oversupply and impact on demand of the coronavirus pandemic [Relation] cause [Effect] soft earnings in the next couple of years",
    "gold": "[Cause]  global oversupply and impact on demand of the coronavirus pandemic [Relation] cause [Effect]  soft earnings in the next couple of years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "When density is high, one technician can efficiently serve many elevators in a small metropolitan area, so the higher the density, the lower number of technicians per elevator needed and the better profitability.",
    "output": "[Cause] density is high [Relation] cause [Effect] one technician can efficiently serve many elevators in a small metropolitan area",
    "gold": "[Cause] the higher the density [Relation] cause [Effect] the lower number of technicians per elevator needed and the better profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "When density is high, one technician can efficiently serve many elevators in a small metropolitan area, so the higher the density, the lower number of technicians per elevator needed and the better profitability.",
    "output": "[Cause] density is high [Relation] cause [Effect] the higher the density, the lower number of technicians per elevator needed and the better profitability",
    "gold": "[Cause] density is high [Relation] enable [Effect] one technician can efficiently serve many elevators in a small metropolitan area",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "When looking to cut costs, it is unlikely that a company will trim a low-cost, high-value item given that maintaining an online presence is crucial to succeeding in today's world.",
    "output": "[Cause] maintaining an online presence is crucial to succeeding in today's world [Relation] cause [Effect] it is unlikely that a company will trim a low-cost, high-value item",
    "gold": "[Cause] maintaining an online presence is crucial to succeeding in today's world [Relation] enable [Effect]  it is unlikely that a company will trim a low-cost, high-value item",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect sales to grow at a low-single-digit pace over the long term (3%-4%, after rising 22% in 2020 in our forecast), supported by low-single-digit same-store sales (3%-4% between 2022-29) and moderate location growth (netting 10 boxes per year after 2020), as household formations rise.",
    "output": "[Cause] household formations rise [Relation] cause [Effect] sales to grow at a low-single-digit pace over the long term (3%-4%, after rising 22% in 2020 in our forecast), supported by low-single-digit same-store sales (3%-4% between 2022-29) and moderate location growth (netting 10 boxes per year after 2020)",
    "gold": "[Cause] low-single-digit same-store sales | and moderate location growth  | household formations rise [Relation] cause [Effect] sales to grow at a low-single-digit pace over the long term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Chevron is focused on delivering operational improvements to reduce its cost base with a targeted $2 billion in pretax profit improvement by 2022, including $1 billion in 2020, split between cost efficiency and margin capture.",
    "output": "[Cause] Chevron is focused on delivering operational improvements [Relation] enable [Effect] reduce its cost base with a targeted $2 billion in pretax profit improvement by 2022, including $1 billion in 2020, split between cost efficiency and margin capture",
    "gold": "[Cause] Chevron is focused on delivering operational improvements [Relation] cause [Effect] reduce its cost base with a targeted $2 billion in pretax profit improvement by 2022, including $1 billion in 2020, split between cost efficiency and margin capture",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, due to reduced distribution, store closures, and low international travel, we do not expect PVH to reach its 2019 total sales until 2023.",
    "output": "[Cause] store closures [Relation] cause [Effect] PVH to reach its 2019 total sales until 2023",
    "gold": "[Cause] low international travel [Relation] prevent [Effect]  do not expect PVH to reach its 2019 total sales until 2023",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We estimate consolidated operating margins will average 3.4% for the next four years (2021-24) as we expect COVID-19 pandemic-related margin pressures to abate in 2021 and ramp further heading into 2022.",
    "output": "[Cause] COVID-19 pandemic-related margin pressures to abate in 2021 and ramp further heading into 2022 [Relation] cause [Effect] consolidated operating margins will average 3.4% for the next four years (2021-24)",
    "gold": "[Cause] COVID-19 pandemic-related margin pressures to abate in 2021 and ramp further heading into 2022 [Relation] cause [Effect] consolidated operating margins will average 3.4% for the next four years (2021-24)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management has often aggressively pursued its business interests using tactics that have angered a variety of entities, including regulators, partners, and rivals, periodically resulting in sizable financial penalties.",
    "output": "[Cause] Management has often aggressively pursued its business interests using tactics that have angered a variety of entities, including regulators, partners, and rivals [Relation] cause [Effect] periodically resulting in sizable financial penalties",
    "gold": "[Cause] Management has often aggressively pursued its business interests using tactics that have angered a variety of entities, including regulators, partners, and rivals [Relation] enable [Effect] periodically resulting in sizable financial penalties",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm applied tandem mass spectrometry (MS/MS) to the newborn screening market by measuring multiple molecules at once, which significantly reduces testing time and costs and allows for the analysis of chemical levels in combination rather than in isolation.",
    "output": "[Cause] measuring multiple molecules at once [Relation] enable [Effect] The firm applied tandem mass spectrometry (MS/MS) to the newborn screening market",
    "gold": "[Cause] measuring multiple molecules at once [Relation] enable [Effect] The firm applied tandem mass spectrometry (MS/MS) to the newborn screening market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm applied tandem mass spectrometry (MS/MS) to the newborn screening market by measuring multiple molecules at once, which significantly reduces testing time and costs and allows for the analysis of chemical levels in combination rather than in isolation.",
    "output": "[Cause] measuring multiple molecules at once [Relation] enable [Effect] The firm applied tandem mass spectrometry (MS/MS) to the newborn screening market",
    "gold": "[Cause] measuring multiple molecules at once [Relation] enable [Effect] significantly reduces testing time and costs and allows for the analysis of chemical levels in combination rather than in isolation",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, even under optimistic adoption scenarios, gasoline-powered vehicles should dominate American roadways for decades, particularly as newer, increasingly reliable conventionally powered cars and trucks sold today can linger for well over 12 years.",
    "output": "[Cause] newer, increasingly reliable conventionally powered cars and trucks sold today can linger for well over 12 years [Relation] cause [Effect] gasoline-powered vehicles should dominate American roadways for decades",
    "gold": "[Cause] under optimistic adoption scenarios [Relation] enable [Effect] gasoline-powered vehicles should dominate American roadways for decades, particularly as newer, increasingly reliable conventionally powered cars and trucks sold today can linger for well over 12 years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These realities, combined with the firm's dominance in single-serve brewing systems, lead us to deduce that most Keurig users continue to use K-cup pods in the brewers.",
    "output": "[Cause] These realities, combined with the firm's dominance in single-serve brewing systems [Relation] cause [Effect] deduce that most Keurig users continue to use K-cup pods in the brewers",
    "gold": "[Cause] These realities, combined with the firm's dominance in single-serve brewing systems [Relation] cause [Effect] deduce that most Keurig users continue to use K-cup pods in the brewers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Gentex also has traditionally kept a debt free balance sheet, partly so its cash hoard ensures it can keep its supply chain moving (such as in the Great Recession or after the Japan tsunami) and thus will never be the reason an automaker has to stop its production line.",
    "output": "[Cause] Gentex also has traditionally kept a debt free balance sheet [Relation] enable [Effect] its cash hoard ensures it can keep its supply chain moving",
    "gold": "[Cause] its cash hoard [Relation] enable [Effect] keep its supply chain moving",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Gentex also has traditionally kept a debt free balance sheet, partly so its cash hoard ensures it can keep its supply chain moving (such as in the Great Recession or after the Japan tsunami) and thus will never be the reason an automaker has to stop its production line.",
    "output": "[Cause] Gentex also has traditionally kept a debt free balance sheet [Relation] cause [Effect] will never be the reason an automaker has to stop its production line",
    "gold": "[Cause] keep its supply chain moving [Relation] cause [Effect] Gentex also has traditionally kept a debt free balance sheet",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Data privacy and security breaches resulting from a hacking event are key ESG risks for Cerner and the rest of the healthcare IT industry.",
    "output": "[Cause] a hacking event [Relation] cause [Effect] Data privacy and security breaches",
    "gold": "[Cause] Data privacy and security breaches [Relation] cause [Effect]  a hacking event",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given political uncertainty, social unrest, and pressure on consumer balance sheets due to elevated unemployment and a protracted economic recovery, we believe it's likely the entire Chilean banking system will see moderately lower returns over the next decade.",
    "output": "[Cause] elevated unemployment and a protracted economic recovery [Relation] cause [Effect] political uncertainty, social unrest, and pressure on consumer balance sheets",
    "gold": "[Cause]  elevated unemployment and a protracted economic recovery [Relation] cause [Effect]  political uncertainty, social unrest, and pressure on consumer balance sheets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given political uncertainty, social unrest, and pressure on consumer balance sheets due to elevated unemployment and a protracted economic recovery, we believe it's likely the entire Chilean banking system will see moderately lower returns over the next decade.",
    "output": "[Cause] elevated unemployment and a protracted economic recovery [Relation] cause [Effect] political uncertainty, social unrest, and pressure on consumer balance sheets",
    "gold": "[Cause]  political uncertainty, social unrest, and pressure on consumer balance sheets [Relation] enable [Effect]  the entire Chilean banking system will see moderately lower returns over the next decade",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we anticipate gross profit margins to recede from the unsustainable 2020 levels given the materially high contribution margin of the PCR test, we still incorporate operating margin levels above the 2019 numbers in the future.",
    "output": "[Cause] the materially high contribution margin of the PCR test [Relation] cause [Effect] gross profit margins to recede from the unsustainable 2020 levels",
    "gold": "[Cause] the materially high contribution margin of the PCR test [Relation] cause [Effect] gross profit margins to recede from the unsustainable 2020 levels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Meanwhile, the area figures in future decarbonization plans, given the low-carbon intensity of its production and opportunities for offshore wind, carbon storage and hydrogen projects.",
    "output": "[Cause] the low-carbon intensity of its production and opportunities for offshore wind, carbon storage and hydrogen projects [Relation] cause [Effect] the area figures in future decarbonization plans",
    "gold": "[Cause] the low-carbon intensity of its production and opportunities for offshore wind, carbon storage and hydrogen projects [Relation] cause [Effect] the area figures in future decarbonization plans",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Therefore, we expect supply to more than offset demand for the next few years and that hotel companies will have difficulty pushing rates to generate significant NOI growth.",
    "output": "[Cause] supply to more than offset demand for the next few years [Relation] cause [Effect] hotel companies will have difficulty pushing rates to generate significant NOI growth",
    "gold": "[Cause]  supply to more than offset demand for the next few years [Relation] cause [Effect] hotel companies will have difficulty pushing rates to generate significant NOI growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fiscal 2020 was a challenging year for the firm, as gaming revenue fell due to a cryptocurrency mining-related hangover and excess channel inventories, but we anticipate sales growth of nearly 50% in fiscal 2022, thanks to gaming, data center, and crypto-mining strength.",
    "output": "[Cause] gaming revenue fell due to a cryptocurrency mining-related hangover and excess channel inventories [Relation] cause [Effect] Fiscal 2020 was a challenging year for the firm",
    "gold": "[Cause] gaming revenue fell due to a cryptocurrency mining-related hangover and excess channel inventories [Relation] cause [Effect] Fiscal 2020 was a challenging year for the firm",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fiscal 2020 was a challenging year for the firm, as gaming revenue fell due to a cryptocurrency mining-related hangover and excess channel inventories, but we anticipate sales growth of nearly 50% in fiscal 2022, thanks to gaming, data center, and crypto-mining strength.",
    "output": "[Cause] gaming revenue fell [Relation] cause [Effect] sales growth of nearly 50% in fiscal 2022",
    "gold": "[Cause]  thanks to gaming, data center, and crypto-mining strength [Relation] cause [Effect] we anticipate sales growth of nearly 50% in fiscal 2022",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We acknowledge that Seagate is able to earn economic profits when demand is strong and supply is tight, but any overinvestment in the industry leading to oversupply can crater pricing and leave the firm liable for economic losses.",
    "output": "[Cause] demand is strong and supply is tight [Relation] enable [Effect] Seagate is able to earn economic profits",
    "gold": "[Cause] demand is strong and supply is tight [Relation] cause [Effect] Seagate is able to earn economic profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We acknowledge that Seagate is able to earn economic profits when demand is strong and supply is tight, but any overinvestment in the industry leading to oversupply can crater pricing and leave the firm liable for economic losses.",
    "output": "[Cause] any overinvestment in the industry leading to oversupply [Relation] cause [Effect] crater pricing and leave the firm liable for economic losses",
    "gold": "[Cause] any overinvestment in the industry leading to oversupply [Relation] cause [Effect] crater pricing and leave the firm liable for economic losses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Credit cards carry inherent product risk, as they can trap consumers in a cycle of continuously paying high interest rates as they struggle to reduce the principal.",
    "output": "[Cause] they can trap consumers in a cycle of continuously paying high interest rates [Relation] cause [Effect] Credit cards carry inherent product risk",
    "gold": "[Cause] they can trap consumers in a cycle of continuously paying high interest rates [Relation] cause [Effect] Credit cards carry inherent product risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Credit cards carry inherent product risk, as they can trap consumers in a cycle of continuously paying high interest rates as they struggle to reduce the principal.",
    "output": "[Cause] they struggle to reduce the principal [Relation] cause [Effect] they can trap consumers in a cycle of continuously paying high interest rates",
    "gold": "[Cause] they struggle to reduce the principal [Relation] cause [Effect] they can trap consumers in a cycle of continuously paying high interest rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Unlike many of its peers, MetLife does not have a meaningful third-party asset-management business, as historically it focused on its core life insurance operations.",
    "output": "[Cause] historically it focused on its core life insurance operations [Relation] cause [Effect] MetLife does not have a meaningful third-party asset-management business",
    "gold": "[Cause] historically it focused on its core life insurance operations [Relation] cause [Effect]  MetLife does not have a meaningful third-party asset-management business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Littelfuse acts as a co-designer with its customers to design its circuit protection, power management, and sensor products into mission critical systems that bear a high cost to failure, and thus high switching costs. As a result, we expect the firm to earn returns in excess of its cost of capital for the better part of the next decade.",
    "output": "[Cause] Littelfuse acts as a co-designer with its customers to design its circuit protection, power management, and sensor products into mission critical systems that bear a high cost to failure, and thus high switching costs [Relation] cause [Effect] the firm to earn returns in excess of its cost of capital for the better part of the next decade",
    "gold": "[Cause] Littelfuse acts as a co-designer with its customers to design its circuit protection, power management, and sensor products into mission critical systems that bear a high cost to failure, and thus high switching costs [Relation] cause [Effect]  the firm to earn returns in excess of its cost of capital for the better part of the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, Zebra has alleviated this pressure in recent years and now has full manufacturing redundancy for every product line, which will mitigate the risk of international tariffs or trade disputes with China.",
    "output": "[Cause] Zebra has alleviated this pressure in recent years and now has full manufacturing redundancy for every product line [Relation] enable [Effect] mitigate the risk of international tariffs or trade disputes with China",
    "gold": "[Cause] Zebra has alleviated this pressure in recent years and now has full manufacturing redundancy for every product line [Relation] enable [Effect] mitigate the risk of international tariffs or trade disputes with China",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If Exact is unable to develop a screening test that can meaningfully compete with Grails' Galleri (pending acquisition by Illumina), we would likely question management's governance decision to direct shareholder capital toward liquid biopsy cancer screening.",
    "output": "[Cause] Exact is unable to develop a screening test that can meaningfully compete with Grails' Galleri (pending acquisition by Illumina) [Relation] cause [Effect] question management's governance decision to direct shareholder capital toward liquid biopsy cancer screening",
    "gold": "[Cause] Exact is unable to develop a screening test that can meaningfully compete with Grails' Galleri (pending acquisition by Illumina) [Relation] cause [Effect] question management's governance decision to direct shareholder capital toward liquid biopsy cancer screening",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customers face switching costs from a lack of viable alternatives: it is much cheaper to replace a part, even if the supplier reaps a high margin than it is to replace a helicopter.",
    "output": "[Cause] a lack of viable alternatives [Relation] cause [Effect] Customers face switching costs",
    "gold": "[Cause] a lack of viable alternatives [Relation] cause [Effect] Customers face switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Typically, we do not look favourably on investment banking outside of the bulge-bracket investment banks, which have clear competitive advantages built on the strength of their brands and their network of investors and firms spanning the globe.",
    "output": "[Cause] the strength of their brands and their network of investors and firms spanning the globe [Relation] enable [Effect] have clear competitive advantages",
    "gold": "[Cause] clear competitive advantages built on the strength of their brands and their network of investors and firms spanning the globe [Relation] cause [Effect] we do not look favourably on investment banking outside of the bulge-bracket investment banks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe some of this demand will persist in the coming quarters as businesses navigate reopening in the current environment and project the segment will grow about 16% in fiscal-year 2021.",
    "output": "[Cause] businesses navigate reopening in the current environment and project the segment will grow about 16% in fiscal-year 2021 [Relation] cause [Effect] some of this demand will persist in the coming quarters",
    "gold": "[Cause]  businesses navigate reopening in the current environment and project the segment will grow about 16% in fiscal-year 2021 [Relation] enable [Effect]  some of this demand will persist in the coming quarters",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's intangible brand advantage is witnessed by its unit room growth, which even remained positive during the downturn in 2008 and 2009, up 7.7% and 0.8%, respectively.",
    "output": "[Cause] its unit room growth [Relation] enable [Effect] The company's intangible brand advantage",
    "gold": "[Cause] The company's intangible brand advantage [Relation] enable [Effect] remained positive during the downturn in 2008 and 2009, up 7.7% and 0.8%, respectively",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "When the magnitude of the inflation is so pronounced, consumer product manufacturers, including McCormick, are likely to be forced to look beyond price increases to offset this pressure (including adjusting an item's packaging or extracting additional costs from its underlying business) or risk consumers balking at its higher prices.",
    "output": "[Cause] the magnitude of the inflation is so pronounced [Relation] cause [Effect] consumer product manufacturers, including McCormick, are likely to be forced to look beyond price increases to offset this pressure (including adjusting an item's packaging or extracting additional costs from its underlying business) or risk consumers balking at its higher prices",
    "gold": "[Cause] the magnitude of the inflation is so pronounced [Relation] cause [Effect] consumer product manufacturers, including McCormick, are likely to be forced to look beyond price increases to offset this pressure (including adjusting an item's packaging or extracting additional costs from its underlying business) or risk consumers balking at its higher prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As such, we expect gross margins to only gradually recover over the next 10 years as the firm improves the profitability of the Eby-Brown business with purchasing synergies, and customer and product mix benefits.",
    "output": "[Cause] the firm improves the profitability of the Eby-Brown business with purchasing synergies, and customer and product mix benefits [Relation] cause [Effect] gross margins to only gradually recover over the next 10 years",
    "gold": "[Cause] purchasing synergies, and customer and product mix benefits [Relation] enable [Effect] improves the profitability of the Eby-Brown business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Therefore, Ionis can tackle diseases that are difficult to treat effectively with other methods, as its therapies are targeted (avoiding safety issues with off-target effects of small-molecule drugs), can act inside the cell (unlike antibody therapies), and are reversible (unlike gene therapy).",
    "output": "[Cause] its therapies are targeted (avoiding safety issues with off-target effects of small-molecule drugs), can act inside the cell (unlike antibody therapies), and are reversible (unlike gene therapy) [Relation] cause [Effect] Ionis can tackle diseases that are difficult to treat effectively with other methods",
    "gold": "[Cause] its therapies are targeted (avoiding safety issues with off-target effects of small-molecule drugs), can act inside the cell (unlike antibody therapies), and are reversible (unlike gene therapy) [Relation] cause [Effect] Ionis can tackle diseases that are difficult to treat effectively with other methods",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Second, while Twilio is scaling rapidly, the firm is in a relatively nascent market, and the rate of future growth remains uncertain.",
    "output": "[Cause] the firm is in a relatively nascent market [Relation] cause [Effect] the rate of future growth remains uncertain",
    "gold": "[Cause]  the firm is in a relatively nascent market [Relation] cause [Effect] the rate of future growth remains uncertain",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As pay-television providers continue to lose subscribers to cord-cutting, Nexstar may experience more \"\"\"\"blackouts\"\"\"\" as distributors may not willing or able to afford increasingly high fees to rebroadcast Nexstar's content.",
    "output": "[Cause] distributors may not willing or able to afford increasingly high fees to rebroadcast Nexstar's content [Relation] cause [Effect] Nexstar may experience more \"\"\"\"blackouts\"\"\"",
    "gold": "[Cause] pay-television providers continue to lose subscribers to cord-cutting [Relation] enable [Effect]  Nexstar may experience more \"\"\"\"blackouts\"\"\"\" as distributors may not willing or able to afford increasingly high fees to rebroadcast Nexstar's content",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The reduction in infrastructure investment was the primary driver in the reduction in our annual EPS growth rate by 30 basis points, to 3.5%.",
    "output": "[Cause] The reduction in infrastructure investment [Relation] cause [Effect] the reduction in our annual EPS growth rate by 30 basis points, to 3.5%",
    "gold": "[Cause] The reduction in infrastructure investment [Relation] enable [Effect] the reduction in our annual EPS growth rate by 30 basis points, to 3.5%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think CGI's ability to maintain IT teams near government agencies further builds this trust, an intangible asset that keeps governments from switching to another consulting firm for their ITS needs.",
    "output": "[Cause] CGI's ability to maintain IT teams near government agencies [Relation] enable [Effect] builds this trust",
    "gold": "[Cause] CGI's ability to maintain IT teams near government agencies [Relation] prevent [Effect]  switching to another consulting firm for their ITS needs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Circuit protection is critical to avoiding these adverse consequences, and Littelfuse has established a reputation for reliability and consistency at its customers, making them loath to switch, for fear of finding a less reliable new supplier that would open them up to such risks.",
    "output": "[Cause] Circuit protection [Relation] prevent [Effect] these adverse consequences",
    "gold": "[Cause] Circuit protection [Relation] prevent [Effect] these adverse consequences",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Circuit protection is critical to avoiding these adverse consequences, and Littelfuse has established a reputation for reliability and consistency at its customers, making them loath to switch, for fear of finding a less reliable new supplier that would open them up to such risks.",
    "output": "[Cause] fear of finding a less reliable new supplier that would open them up to such risks [Relation] cause [Effect] making them loath to switch",
    "gold": "[Cause] Littelfuse has established a reputation for reliability and consistency at its customers [Relation] enable [Effect] making them loath to switch",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Circuit protection is critical to avoiding these adverse consequences, and Littelfuse has established a reputation for reliability and consistency at its customers, making them loath to switch, for fear of finding a less reliable new supplier that would open them up to such risks.",
    "output": "[Cause] fear of finding a less reliable new supplier [Relation] cause [Effect] open them up to such risks",
    "gold": "[Cause] fear of finding a less reliable new supplier that would open them up to such risks [Relation] cause [Effect] making them loath to switch",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect demand to continue its recovery in 2021, with revenue rising 9% on solid intermodal growth (aided by robust retailer restocking in the first half), automotive volume recovery, and industrial end-market improvement.",
    "output": "[Cause] solid intermodal growth (aided by robust retailer restocking in the first half), automotive volume recovery, and industrial end-market improvement [Relation] enable [Effect] demand to continue its recovery in 2021, with revenue rising 9%",
    "gold": "[Cause] robust retailer restocking in the first half [Relation] cause [Effect] revenue rising 9% on solid intermodal growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect demand to continue its recovery in 2021, with revenue rising 9% on solid intermodal growth (aided by robust retailer restocking in the first half), automotive volume recovery, and industrial end-market improvement.",
    "output": "[Cause] solid intermodal growth (aided by robust retailer restocking in the first half), automotive volume recovery, and industrial end-market improvement [Relation] enable [Effect] demand to continue its recovery in 2021, with revenue rising 9%",
    "gold": "[Cause] revenue rising 9% on solid intermodal growth (aided by robust retailer restocking in the first half), automotive volume recovery, and industrial end-market improvement [Relation] cause [Effect] We expect demand to continue its recovery in 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "On top of that, the hangover persisted into the first half of 2020 thanks to pandemic disruption to freight demand.",
    "output": "[Cause] pandemic disruption to freight demand [Relation] cause [Effect] the hangover persisted into the first half of 2020",
    "gold": "[Cause] pandemic disruption to freight demand [Relation] cause [Effect] the hangover persisted into the first half of 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Following a decline in issuance, we expect Moody's ratings revenue to rebound driven by pricing power and a rise in GDP.",
    "output": "[Cause] Following a decline in issuance [Relation] cause [Effect] Moody's ratings revenue to rebound driven by pricing power and a rise in GDP",
    "gold": "[Cause] Following a decline in issuance [Relation] cause [Effect]  Moody's ratings revenue to rebound driven by pricing power and a rise in GDP",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The three large players have started to emphasize differentiated offerings over price to attract customers, which has allowed average revenue per customer across the industry to stabilize, and in some cases move higher, in recent quarters despite the pandemic.",
    "output": "[Cause] The three large players have started to emphasize differentiated offerings over price to attract customers [Relation] enable [Effect] average revenue per customer across the industry to stabilize, and in some cases move higher",
    "gold": "[Cause] The three large players have started to emphasize differentiated offerings over price to attract customers [Relation] cause [Effect] average revenue per customer across the industry to stabilize, and in some cases move higher",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we are not concerned about its ability to endure the crisis, the pandemic has upended the retail landscape, with unemployment pressuring discretionary income and customers' comfort with in-store shopping likely to take time to build.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] upended the retail landscape",
    "gold": "[Cause] unemployment [Relation] cause [Effect] pressuring discretionary income",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we are not concerned about its ability to endure the crisis, the pandemic has upended the retail landscape, with unemployment pressuring discretionary income and customers' comfort with in-store shopping likely to take time to build.",
    "output": "[Cause] unemployment [Relation] cause [Effect] customers' comfort with in-store shopping likely to take time to build",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] upended the retail landscape",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In 2019, GeneSight experienced volume growth, but it encountered revenue decline due to collateral impact from the discontinuation of two of its testing indications related to analgesic and ADHD.",
    "output": "[Cause] collateral impact from the discontinuation of two of its testing indications related to analgesic and ADHD [Relation] cause [Effect] it encountered revenue decline",
    "gold": "[Cause] collateral impact from the discontinuation of two of its testing indications related to analgesic and ADHD [Relation] prevent [Effect] it encountered revenue decline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also include $100 million of annual revenue for Vistra's Texas generation fleet starting in 2023 to reflect power market changes that we expect will offer economic incentives for fossil-fuel generators like Vistra.",
    "output": "[Cause] $100 million of annual revenue for Vistra's Texas generation fleet starting in 2023 [Relation] enable [Effect] reflect power market changes that we expect will offer economic incentives for fossil-fuel generators like Vistra",
    "gold": "[Cause] reflect power market changes [Relation] enable [Effect] offer economic incentives for fossil-fuel generators like Vistra",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The strategic rationale behind ING's sprawling geographic footprint isn't clear to us and we believe ING can drive a material rerating of its valuation by the market if it were to reduce its exposure to markets outside the Benelux and Germany and focus on its profitable core markets.",
    "output": "[Cause] it were to reduce its exposure to markets outside the Benelux and Germany and focus on its profitable core markets [Relation] enable [Effect] ING can drive a material rerating of its valuation by the market",
    "gold": "[Cause] [Relation] cause [Effect] reduce its exposure to markets outside the Benelux and Germany and focus on its profitable core markets | ING can drive a material rerating of its valuation by the market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Grocers use price as a primary lever to drive traffic, necessitating efficiency and cost leverage (spurred by high traffic) to deliver returns.",
    "output": "[Cause] Grocers use price as a primary lever to drive traffic [Relation] cause [Effect] necessitating efficiency and cost leverage (spurred by high traffic) to deliver returns",
    "gold": "[Cause] Grocers use price as a primary lever to drive traffic [Relation] cause [Effect] necessitating efficiency and cost leverage (spurred by high traffic) to deliver returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Apple consistently touts when the majority of its user base is on the latest operating system, which in turn allows developers to build for the latest version of iOS and know that their apps are optimized for most of Apple's user base.",
    "output": "[Cause] the majority of its user base is on the latest operating system [Relation] enable [Effect] developers to build for the latest version of iOS",
    "gold": "[Cause] the majority of its user base is on the latest operating system [Relation] enable [Effect] developers to build for the latest version of iOS",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, Corning's display business also presents meaningful switching costs to its customers as a result of co-location and co-investment, although we can't say that all of Corning's businesses benefit from similar switching costs.",
    "output": "[Cause] co-location and co-investment [Relation] cause [Effect] Corning's display business also presents meaningful switching costs to its customers",
    "gold": "[Cause] co-location and co-investment [Relation] cause [Effect] Corning's display business also presents meaningful switching costs to its customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The financial impact could be even more pronounced if there is a swift and significant drop in continuing housing demand because homebuilders have less time to adjust to a revised demand outlook.",
    "output": "[Cause] homebuilders have less time to adjust to a revised demand outlook [Relation] cause [Effect] The financial impact could be even more pronounced if there is a swift and significant drop in continuing housing demand",
    "gold": "[Cause] homebuilders have less time to adjust to a revised demand outlook [Relation] cause [Effect] The financial impact could be even more pronounced if there is a swift and significant drop in continuing housing demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To satisfy investors, Exxon has reduced its aggressive spending plans by over 30% to $20 billion-$25 billion in 2022-25, which should keep the dividend safe with oil at $50 a barrel.",
    "output": "[Cause] Exxon has reduced its aggressive spending plans by over 30% to $20 billion-$25 billion in 2022-25 [Relation] enable [Effect] keep the dividend safe with oil at $50 a barrel",
    "gold": "[Cause]  Exxon has reduced its aggressive spending plans by over 30% to $20 billion-$25 billion in 2022-25 [Relation] enable [Effect]  keep the dividend safe with oil at $50 a barrel",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company already boasts an operating margin higher than many of its similar-size peers (excluding non-CRO segments of its peers), and we see only modest opportunity for operating margin improvement in the future.",
    "output": "[Cause] The company already boasts an operating margin higher than many of its similar-size peers (excluding non-CRO segments of its peers) [Relation] cause [Effect] only modest opportunity for operating margin improvement in the future",
    "gold": "[Cause] The company already boasts an operating margin higher than many of its similar-size peers (excluding non-CRO segments of its peers) [Relation] cause [Effect] only modest opportunity for operating margin improvement in the future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With bug resistance growing globally, demand for FMC's new products should allow the company to safely outearn its cost of capital over the next decade.",
    "output": "[Cause] bug resistance growing globally [Relation] cause [Effect] demand for FMC's new products should allow the company to safely outearn its cost of capital over the next decade",
    "gold": "[Cause] bug resistance growing globally [Relation] cause [Effect] demand for FMC's new products should allow the company to safely outearn its cost of capital over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "S&L performance is expected to decline in 2020 and 2021, as the temporary boost from 2020 storage differentials will disappear, Plains has taken steps to ensure its capital position and balance sheet are protected.",
    "output": "[Cause] the temporary boost from 2020 storage differentials will disappear [Relation] cause [Effect] S&L performance is expected to decline in 2020 and 2021",
    "gold": "[Cause]  the temporary boost from 2020 storage differentials will disappear [Relation] cause [Effect] S&L performance is expected to decline in 2020 and 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "S&L performance is expected to decline in 2020 and 2021, as the temporary boost from 2020 storage differentials will disappear, Plains has taken steps to ensure its capital position and balance sheet are protected.",
    "output": "[Cause] Plains has taken steps [Relation] enable [Effect] ensure its capital position and balance sheet are protected",
    "gold": "[Cause] S&L performance is expected to decline in 2020 and 2021 [Relation] cause [Effect]  Plains has taken steps to ensure its capital position and balance sheet are protected",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Operating margins (using net revenue) in fiscal 2020 were 65%, and margins have generally trended upward because of the scalability of the business.",
    "output": "[Cause] the scalability of the business [Relation] cause [Effect] margins have generally trended upward",
    "gold": "[Cause] the scalability of the business [Relation] cause [Effect] margins have generally trended upward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The biggest risk for the firm is the acreage is never drilled and developed, and thus there is no production to pay royalties on. Thus, Viper is indirectly exposed to Diamondback and Concho's financial ability and willingness to drill wells on its acreage, any regulatory headwinds (particularly environmental), and a weaker oil and gas outlook.",
    "output": "[Cause] The biggest risk for the firm is the acreage is never drilled and developed, and thus there is no production to pay royalties on [Relation] cause [Effect] Viper is indirectly exposed to Diamondback and Concho's financial ability and willingness to drill wells on its acreage, any regulatory headwinds (particularly environmental), and a weaker oil and gas outlook",
    "gold": "[Cause] The biggest risk for the firm is the acreage is never drilled and developed, and thus there is no production to pay royalties on [Relation] cause [Effect] Viper is indirectly exposed to Diamondback and Concho's financial ability and willingness to drill wells on its acreage, any regulatory headwinds (particularly environmental), and a weaker oil and gas outlook",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To efficiently manage working capital and better serve its customers, Reliance provides just-in-time delivery services, delivering nearly half of its shipments within 24 hours of the order being placed.",
    "output": "[Cause] Reliance provides just-in-time delivery services [Relation] enable [Effect] efficiently manage working capital and better serve its customers",
    "gold": "[Cause] Reliance provides just-in-time delivery services [Relation] enable [Effect]  efficiently manage working capital and better serve its customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A carbon tax would likely increase the final price of refined products as emission costs would probably be borne by consumers.",
    "output": "[Cause] emission costs would probably be borne by consumers [Relation] cause [Effect] A carbon tax would likely increase the final price of refined products",
    "gold": "[Cause]  emission costs would probably be borne by consumers [Relation] cause [Effect] A carbon tax would likely increase the final price of refined products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Dispenser-agnostic technology should help drive above-market growth as more gas stations implement capability to service passenger vehicles equipped with secure electronic wireless payment (part of an ''''infotainment system'''').",
    "output": "[Cause] more gas stations implement capability to service passenger vehicles equipped with secure electronic wireless payment (part of an ''''infotainment system'''') [Relation] cause [Effect] Dispenser-agnostic technology should help drive above-market growth",
    "gold": "[Cause] Dispenser-agnostic technology [Relation] enable [Effect] drive above-market growth as more gas stations implement capability to service passenger vehicles equipped with secure electronic wireless payment (part of an ''''infotainment system'''')",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect most of these savings to be reinvested into the business, however, in order to absorb higher customer acquisition costs across the business.",
    "output": "[Cause] most of these savings to be reinvested into the business [Relation] enable [Effect] absorb higher customer acquisition costs across the business",
    "gold": "[Cause]  most of these savings to be reinvested into the business [Relation] enable [Effect]  absorb higher customer acquisition costs across the business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Chevron to deliver higher returns and margin expansion thanks to an oil-leveraged portfolio as well as the next phase of growth, which is focused on developing its large, advantaged Permian Basin position.",
    "output": "[Cause] an oil-leveraged portfolio as well as the next phase of growth [Relation] enable [Effect] Chevron to deliver higher returns and margin expansion",
    "gold": "[Cause] an oil-leveraged portfolio as well as the next phase of growth [Relation] enable [Effect]  Chevron to deliver higher returns and margin expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We consider switching costs to be significant across all these software offerings given the length of time required to master Autodesk software.",
    "output": "[Cause] the length of time required to master Autodesk software [Relation] cause [Effect] switching costs to be significant across all these software offerings",
    "gold": "[Cause] switching costs [Relation] cause [Effect] significant across all these software offerings given the length of time",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, due in large part to forward-looking test years, multi-year plans that allowed automatic increases in rate base, decoupling mechanisms and favorable deferral mechanisms, Con Ed's utilities have consistently been able to achieve realized ROEs near or even above the allowed ROE.",
    "output": "[Cause] forward-looking test years, multi-year plans that allowed automatic increases in rate base, decoupling mechanisms and favorable deferral mechanisms [Relation] cause [Effect] Con Ed's utilities have consistently been able to achieve realized ROEs near or even above the allowed ROE",
    "gold": "[Cause]  forward-looking test years, multi-year plans that allowed automatic increases in rate base, decoupling mechanisms and favorable deferral mechanisms [Relation] cause [Effect]  Con Ed's utilities have consistently been able to achieve realized ROEs near or even above the allowed ROE",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In taste, food, and beverage, we assume an above-market growth rate as the company's plant-based protein business should see elevated sales due to growing consumer demand as well as consumer preferences for more natural flavors.",
    "output": "[Cause] growing consumer demand as well as consumer preferences for more natural flavors [Relation] cause [Effect] the company's plant-based protein business should see elevated sales",
    "gold": "[Cause] growing consumer demand as well as consumer preferences for more natural flavors [Relation] enable [Effect] an above-market growth rate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In taste, food, and beverage, we assume an above-market growth rate as the company's plant-based protein business should see elevated sales due to growing consumer demand as well as consumer preferences for more natural flavors.",
    "output": "[Cause] growing consumer demand as well as consumer preferences for more natural flavors [Relation] cause [Effect] the company's plant-based protein business should see elevated sales",
    "gold": "[Cause] growing consumer demand as well as consumer preferences for more natural flavors [Relation] enable [Effect] the company's plant-based protein business should see elevated sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We then expect another large capacity increase in 2022 as Model Y crossover capacity in each of the three plants above should be at least 250,000.",
    "output": "[Cause] Model Y crossover capacity in each of the three plants above should be at least 250,000 [Relation] cause [Effect] another large capacity increase in 2022",
    "gold": "[Cause] Model Y crossover capacity in each of the three plants above should be at least 250,000 [Relation] cause [Effect] another large capacity increase in 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're holding steady on our fair value estimate of $164 per share, which assumes a resumption of procedure volume following the COVID-19 impact in 2020.",
    "output": "[Cause] a resumption of procedure volume following the COVID-19 impact in 2020 [Relation] cause [Effect] We're holding steady on our fair value estimate of $164 per share",
    "gold": "[Cause] a resumption of procedure volume following the COVID-19 impact in 2020 [Relation] cause [Effect] We're holding steady on our fair value estimate of $164 per share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Companies such as Google, Amazon, Facebook, and Alibaba have sizable user bases and budgets and can present an increasing competitive threat in the future.",
    "output": "[Cause] Companies such as Google, Amazon, Facebook, and Alibaba have sizable user bases and budgets [Relation] cause [Effect] present an increasing competitive threat in the future",
    "gold": "[Cause] Companies such as Google, Amazon, Facebook, and Alibaba have sizable user bases and budgets [Relation] enable [Effect]  present an increasing competitive threat in the future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Deere's precision solutions allow farmers to become more informed on what's driving higher crop yield, from optimal seed placement to targeted chemical spraying.",
    "output": "[Cause] Deere's precision solutions [Relation] enable [Effect] farmers to become more informed on what's driving higher crop yield, from optimal seed placement to targeted chemical spraying",
    "gold": "[Cause] from optimal seed placement to targeted chemical spraying [Relation] enable [Effect] Deere's precision solutions allow farmers to become more informed on what's driving higher crop yield",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "On the bottom line, over the next three years we expect improving margins, largely driven by the higher contribution to total sales by specialty drugs, which carry very high margins.",
    "output": "[Cause] the higher contribution to total sales by specialty drugs [Relation] cause [Effect] improving margins",
    "gold": "[Cause] largely driven by the higher contribution to total sales by specialty drugs [Relation] cause [Effect] carry very high margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As the rest of its business struggles to produce revenue growth, security solutions have been growing about 30% annually, on pace to exceed $1 billion in revenue by 2020 and making up almost one third of Akamai's total sales.",
    "output": "[Cause] the rest of its business struggles to produce revenue growth [Relation] cause [Effect] security solutions have been growing about 30% annually, on pace to exceed $1 billion in revenue by 2020 and making up almost one third of Akamai's total sales",
    "gold": "[Cause] security solutions have been growing about 30% annually [Relation] enable [Effect] exceed $1 billion in revenue by 2020 and making up almost one third of Akamai's total sales",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In other words, we think that Accenture's clients' broad familiarity with the company is a source of resistance to switching to other consultants and outsourcing providers.",
    "output": "[Cause] Accenture's clients' broad familiarity with the company [Relation] cause [Effect] resistance to switching to other consultants and outsourcing providers",
    "gold": "[Cause] the company is a source of resistance to switching to other consultants and outsourcing providers [Relation] cause [Effect]  Accenture's clients' broad familiarity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "RingCentral's unique go-to-market strategy combined with a best-in-class platform should enable the firm to take a sizable slice of the pie and drive growth with enterprise customers as well as in international markets.",
    "output": "[Cause] RingCentral's unique go-to-market strategy combined with a best-in-class platform [Relation] enable [Effect] the firm to take a sizable slice of the pie and drive growth with enterprise customers as well as in international markets",
    "gold": "[Cause] RingCentral's unique go-to-market strategy combined with a best-in-class platform [Relation] enable [Effect] the firm to take a sizable slice of the pie and drive growth with enterprise customers as well as in international markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This expansion of viewing hours has helped ARPU per household reach $2.39 in third quarter of 2020 from $0.45 in the first quarter of 2015.",
    "output": "[Cause] This expansion of viewing hours [Relation] enable [Effect] ARPU per household reach $2.39 in third quarter of 2020 from $0.45 in the first quarter of 2015",
    "gold": "[Cause] This expansion of viewing hours [Relation] cause [Effect] ARPU per household reach $2.39 in third quarter of 2020 from $0.45 in the first quarter of 2015",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we believe Exxon has ceded some ground to peers as it has added higher-cost oil sands volumes, we think its overall upstream portfolio maintains a low-cost position.",
    "output": "[Cause] it has added higher-cost oil sands volumes [Relation] cause [Effect] Exxon has ceded some ground to peers",
    "gold": "[Cause]  it has added higher-cost oil sands volumes [Relation] cause [Effect]  Exxon has ceded some ground to peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The rise of smartphones and tablets, coupled with bring-your-own-device and a mobile workforce have made a file format that is usable on any screen more relevant than ever.",
    "output": "[Cause] The rise of smartphones and tablets, coupled with bring-your-own-device and a mobile workforce [Relation] enable [Effect] a file format that is usable on any screen more relevant than ever",
    "gold": "[Cause] The rise of smartphones and tablets, coupled with bring-your-own-device and a mobile workforce [Relation] enable [Effect] a file format that is usable on any screen more relevant than ever",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Polaris delivered fourth-quarter 2020 sales growth of 24% (to $2.2 billion) and adjusted EPS growth of 83% (to $3.34) thanks to solid consumer takeaway and well-controlled costs.",
    "output": "[Cause] solid consumer takeaway and well-controlled costs [Relation] enable [Effect] Polaris delivered fourth-quarter 2020 sales growth of 24% (to $2.2 billion) and adjusted EPS growth of 83% (to $3.34)",
    "gold": "[Cause] solid consumer takeaway and well-controlled costs [Relation] enable [Effect] Polaris delivered fourth-quarter 2020 sales growth of 24% (to $2.2 billion) and adjusted EPS growth of 83% (to $3.34)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There is value because age, in this context, dovetails with drinkers' perception of quality, thus increasing their willingness to pay and, ultimately, the attendant ability of the supplier to extract margins and rents.",
    "output": "[Cause] age, in this context, dovetails with drinkers' perception of quality [Relation] cause [Effect] increasing their willingness to pay and, ultimately, the attendant ability of the supplier to extract margins and rents",
    "gold": "[Cause] age, in this context, dovetails with drinkers' perception of quality [Relation] cause [Effect] increasing their willingness to pay and, ultimately, the attendant ability of the supplier to extract margins and rents",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given our overarching premise that the value of high-quality content will continue to increase, the television production studios are among the most attractive assets of the reunited firm.",
    "output": "[Cause] our overarching premise that the value of high-quality content will continue to increase [Relation] cause [Effect] the television production studios are among the most attractive assets of the reunited firm",
    "gold": "[Cause] our overarching premise that the value of high-quality content will continue to increase [Relation] enable [Effect] the television production studios are among the most attractive assets of the reunited firm",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Adcetris sales in North America could reach over $2 billion thanks to label expansions and potential combinations with checkpoint inhibitors.",
    "output": "[Cause] label expansions and potential combinations with checkpoint inhibitors [Relation] enable [Effect] Adcetris sales in North America could reach over $2 billion",
    "gold": "[Cause] label expansions and potential combinations with checkpoint inhibitors [Relation] cause [Effect] Adcetris sales in North America could reach over $2 billion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the ratio will steadily climb to 4.7% over the next 10 years due to a higher mix of independent restaurant business.",
    "output": "[Cause] a higher mix of independent restaurant business [Relation] cause [Effect] the ratio will steadily climb to 4.7% over the next 10 years",
    "gold": "[Cause] a higher mix of independent restaurant business [Relation] cause [Effect] the ratio will steadily climb to 4.7% over the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While digital alternatives are diminishing the value of an advantaged network of locations, we contend that such proximity remains especially valuable to low-income customers that value convenience, considering time pressures.",
    "output": "[Cause] digital alternatives are diminishing the value of an advantaged network of locations [Relation] cause [Effect] proximity remains especially valuable to low-income customers that value convenience, considering time pressures",
    "gold": "[Cause] value convenience, considering time pressures | proximity [Relation] enable [Effect] valuable to low-income customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect higher lithium prices and volume will help Albemarle's lithium EBITDA grow nearly 5 times over the next decade.",
    "output": "[Cause] higher lithium prices and volume [Relation] enable [Effect] Albemarle's lithium EBITDA grow nearly 5 times over the next decade",
    "gold": "[Cause]  higher lithium prices and volume [Relation] enable [Effect] Albemarle's lithium EBITDA grow nearly 5 times over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume a total revenue growth CAGR of 13.4%, far higher than the trailing five-year CAGR of 5.4%, largely due to the pandemic occurring in 2020.",
    "output": "[Cause] the pandemic occurring in 2020 [Relation] cause [Effect] a total revenue growth CAGR of 13.4%, far higher than the trailing five-year CAGR of 5.4%",
    "gold": "[Cause] the pandemic occurring in 2020 [Relation] cause [Effect] a total revenue growth CAGR of 13.4%, far higher than the trailing five-year CAGR of 5.4%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A carbon tax would likely increase the final price of refined products as emission costs would likely be borne by consumers.",
    "output": "[Cause] emission costs would likely be borne by consumers [Relation] cause [Effect] A carbon tax would likely increase the final price of refined products",
    "gold": "[Cause] emission costs would likely be borne by consumers [Relation] cause [Effect] A carbon tax would likely increase the final price of refined products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a testament to restrictions inherent to the development process in the state, it reportedly took Extra Space 10 years to gain permission and develop one of its facilities in Southern California.",
    "output": "[Cause] a testament to restrictions inherent to the development process in the state [Relation] cause [Effect] it reportedly took Extra Space 10 years to gain permission and develop one of its facilities in Southern California",
    "gold": "[Cause]  it reportedly took Extra Space 10 years to gain permission and develop one of its facilities in Southern California [Relation] enable [Effect]  a testament to restrictions inherent to the development process in the state",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Banco de Chile's reputation and illustrious history have allowed it to attract a high proportion of non-interest-bearing deposits, resulting in the lowest cost of funding in the Chilean banking industry.",
    "output": "[Cause] Banco de Chile's reputation and illustrious history [Relation] enable [Effect] attract a high proportion of non-interest-bearing deposits",
    "gold": "[Cause] Banco de Chile's reputation and illustrious history [Relation] enable [Effect] attract a high proportion of non-interest-bearing deposits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Banco de Chile's reputation and illustrious history have allowed it to attract a high proportion of non-interest-bearing deposits, resulting in the lowest cost of funding in the Chilean banking industry.",
    "output": "[Cause] Banco de Chile's reputation and illustrious history [Relation] enable [Effect] the lowest cost of funding in the Chilean banking industry",
    "gold": "[Cause] attract a high proportion of non-interest-bearing deposits [Relation] enable [Effect] the lowest cost of funding in the Chilean banking industry",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The threats posed by AMD in x86 CPUs, ARM-based CPUs developed by Intel's customers, Nvidia's first-mover advantage in AI, and Intel's recent manufacturing struggles with its 10-nm process collectively underpin our uncertainty rating.",
    "output": "[Cause] The threats posed by AMD in x86 CPUs, ARM-based CPUs developed by Intel's customers, Nvidia's first-mover advantage in AI, and Intel's recent manufacturing struggles with its 10-nm process [Relation] cause [Effect] underpin our uncertainty rating",
    "gold": "[Cause] The threats posed by AMD in x86 CPUs, ARM-based CPUs developed by Intel's customers, Nvidia's first-mover advantage in AI, and Intel's recent manufacturing struggles with its 10-nm process [Relation] cause [Effect] underpin our uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There are additional indirect costs pertaining to employee training, particularly HR and payroll personnel, who need to be coached on how to use the system effectively to prevent inefficiencies with hiring, benefits, or payroll services; inaccurate execution of such processes could lead to an impediment to business operations.",
    "output": "[Cause] additional indirect costs pertaining to employee training, particularly HR and payroll personnel [Relation] cause [Effect] need to be coached on how to use the system effectively",
    "gold": "[Cause] employee training [Relation] cause [Effect]  additional indirect costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The biggest ESG risk we see revolves around broadband's essential function in society, which means regulators may take a heavy hand in ensuring providers reach all residents for reasonable prices—potentially limiting pricing power and forcing higher spending even when it doesn't make economic sense.",
    "output": "[Cause] regulators may take a heavy hand in ensuring providers reach all residents for reasonable prices [Relation] cause [Effect] limiting pricing power and forcing higher spending even when it doesn't make economic sense",
    "gold": "[Cause] regulators may take a heavy hand in ensuring providers reach all residents for reasonable prices [Relation] cause [Effect]  limiting pricing power and forcing higher spending even when it doesn't make economic sense",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, we anticipate cloud and data center buildouts to accommodate ever-increasing bandwidth demand will lead to steady growth for the firm's sales into IT infrastructure.",
    "output": "[Cause] accommodate ever-increasing bandwidth demand [Relation] cause [Effect] steady growth for the firm's sales into IT infrastructure",
    "gold": "[Cause] accommodate ever-increasing bandwidth demand [Relation] cause [Effect] steady growth for the firm's sales into IT infrastructure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, since there could be a medical device shortage if additional plants are closed, we believe regulators would act, if necessary, to ensure medical device availability.",
    "output": "[Cause] there could be a medical device shortage if additional plants are closed [Relation] cause [Effect] regulators would act, if necessary, to ensure medical device availability",
    "gold": "[Cause] there could be a medical device shortage if additional plants are closed [Relation] cause [Effect] regulators would act, if necessary, to ensure medical device availability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "CROs with a record of quality and timeliness like PRA can drive repeat business with the same biopharma client over extended periods.",
    "output": "[Cause] CROs with a record of quality and timeliness like PRA [Relation] enable [Effect] drive repeat business with the same biopharma client over extended periods",
    "gold": "[Cause] CROs with a record of quality and timeliness like PRA [Relation] enable [Effect]  drive repeat business with the same biopharma client over extended periods",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's 55% payout ratio based on adjusted 2020 earnings is low for the sector, thus we believe there is room to increase the dividend modestly faster than earnings growth.",
    "output": "[Cause] The company's 55% payout ratio based on adjusted 2020 earnings is low for the sector [Relation] cause [Effect] there is room to increase the dividend modestly faster than earnings growth",
    "gold": "[Cause] The company's 55% payout ratio based on adjusted 2020 earnings is low for the sector [Relation] cause [Effect] there is room to increase the dividend modestly faster than earnings growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the growing presence of renter fatigue with respect to rent increases and pending supply hitting the market, we see overall revenue growth decelerating from the high-single digits.",
    "output": "[Cause] the growing presence of renter fatigue with respect to rent increases and pending supply hitting the market [Relation] cause [Effect] overall revenue growth decelerating from the high-single digits",
    "gold": "[Cause] the growing presence of renter fatigue with respect to rent increases and pending supply hitting the market [Relation] cause [Effect] overall revenue growth decelerating from the high-single digits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company has met the challenge of digital grocery with partnerships with a variety of firms, tie-ups that we believe are enabled by Kroger's significant size, established market position, and grocery industry leadership as it is uniquely positioned to deliver meaningful value to its counterparts.",
    "output": "[Cause] it is uniquely positioned to deliver meaningful value to its counterparts [Relation] enable [Effect] tie-ups",
    "gold": "[Cause] The company has met the challenge of digital grocery with partnerships with a variety of firms, tie-ups [Relation] enable [Effect] we believe are enabled by Kroger's significant size, established market position, and grocery industry leadership as it is uniquely positioned to deliver meaningful value to its counterparts",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "All these marginal improvements and knowledge buildup can add up and make it more difficult for the client to switch firms as the contract nears its end-date.",
    "output": "[Cause] the contract nears its end-date [Relation] cause [Effect] All these marginal improvements and knowledge buildup can add up and make it more difficult for the client to switch firms",
    "gold": "[Cause] the contract nears its end-date [Relation] cause [Effect] All these marginal improvements and knowledge buildup can add up and make it more difficult for the client to switch firms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It controls GBP 236 billion in retail deposits in the U.K., which makes it the largest retail deposit holder of the high street banks (RBS GBP 180 billion, Barclays GBP 154 billion, HSBC GBP 132 billion, Santander GBP 130 billion).",
    "output": "[Cause] It controls GBP 236 billion in retail deposits in the U.K. [Relation] enable [Effect] it the largest retail deposit holder of the high street banks",
    "gold": "[Cause] It controls GBP 236 billion in retail deposits in the U.K. [Relation] enable [Effect]  it the largest retail deposit holder of the high street banks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This strong position allows SK Telecom to keep the majority of its customer calls on its own network, thereby increasing margins.",
    "output": "[Cause] This strong position [Relation] enable [Effect] SK Telecom to keep the majority of its customer calls on its own network",
    "gold": "[Cause] This strong position [Relation] enable [Effect] SK Telecom to keep the majority of its customer calls on its own network",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This strong position allows SK Telecom to keep the majority of its customer calls on its own network, thereby increasing margins.",
    "output": "[Cause] This strong position [Relation] enable [Effect] increasing margins",
    "gold": "[Cause] SK Telecom to keep the majority of its customer calls on its own network [Relation] enable [Effect]  increasing margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Consequently, we think fiscal 2021 revenue will be up in the low double-digits thanks to greater memory and storage requirements across servers, smartphones, game consoles, and new opportunities for Micron such as embedded DRAM in automotive.",
    "output": "[Cause] greater memory and storage requirements across servers, smartphones, game consoles, and new opportunities for Micron such as embedded DRAM in automotive [Relation] cause [Effect] fiscal 2021 revenue will be up in the low double-digits",
    "gold": "[Cause] greater memory and storage requirements across servers, smartphones, game consoles, and new opportunities for Micron such as embedded DRAM in automotive [Relation] cause [Effect] fiscal 2021 revenue will be up in the low double-digits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These patients represent lots of growth potential, as roughly 70% of Americans with Type 1 diabetes still take daily insulin injections.",
    "output": "[Cause] roughly 70% of Americans with Type 1 diabetes still take daily insulin injections [Relation] cause [Effect] These patients represent lots of growth potential",
    "gold": "[Cause] roughly 70% of Americans with Type 1 diabetes still take daily insulin injections [Relation] enable [Effect] These patients represent lots of growth potential",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Lennox's top line to benefit from continued strength in new-home construction, the release of pent-up commercial replacement demand related to the 2020 downturn, and market share gains across Lennox's product portfolio.",
    "output": "[Cause] the release of pent-up commercial replacement demand [Relation] cause [Effect] Lennox's top line",
    "gold": "[Cause] market share gains [Relation] cause [Effect] Lennox's top line",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Volatile commodity power markets, weather, and reliance on government subsidies for renewable energy create some uncertainty around NextEra's long-term earnings strength at its renewable generation business.",
    "output": "[Cause] Volatile commodity power markets, weather, and reliance on government subsidies for renewable energy [Relation] cause [Effect] some uncertainty around NextEra's long-term earnings strength at its renewable generation business",
    "gold": "[Cause] Volatile commodity power markets, weather, and reliance on government subsidies for renewable energy [Relation] cause [Effect] some uncertainty around NextEra's long-term earnings strength at its renewable generation business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The First Niagara acquisition has improved many of these metrics for KeyCorp, such as deposits per branch and average metropolitan statistical area market share.",
    "output": "[Cause] The First Niagara acquisition [Relation] enable [Effect] improved many of these metrics for KeyCorp",
    "gold": "[Cause] The First Niagara acquisition has improved many of these metrics for KeyCorp [Relation] cause [Effect] such as deposits per branch and average metropolitan statistical area market share",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "China Mobile's TD LTE has a better choice of handsets than its 3G technology, as TD LTE has bigger global scale.",
    "output": "[Cause] TD LTE has bigger global scale [Relation] cause [Effect] China Mobile's TD LTE has a better choice of handsets than its 3G technology",
    "gold": "[Cause] TD LTE has bigger global scale [Relation] enable [Effect] China Mobile's TD LTE has a better choice of handsets than its 3G technology",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Modest operating leverage and scale-based supply chain savings see terminal operating margins reach 33.1% in 2030, higher than the 28.7% seen in 2020 but below 2019 levels as promotions, delivery commissions, and incremental advertising expenditure offsets savings.",
    "output": "[Cause] Modest operating leverage and scale-based supply chain savings [Relation] cause [Effect] terminal operating margins reach 33.1% in 2030, higher than the 28.7% seen in 2020 but below 2019 levels as promotions, delivery commissions, and incremental advertising expenditure offsets savings",
    "gold": "[Cause] delivery commissions, and incremental advertising expenditure offsets savings [Relation] cause [Effect] terminal operating margins reach 33.1% in 2030, higher than the 28.7% seen in 2020 but below 2019 levels as promotion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We assign the company a high uncertainty rating due to new market adoption concerns and customer concentration risk with the cloud providers.",
    "output": "[Cause] new market adoption concerns and customer concentration risk with the cloud providers [Relation] cause [Effect] We assign the company a high uncertainty rating",
    "gold": "[Cause] new market adoption concerns and customer concentration risk with the cloud providers [Relation] enable [Effect] We assign the company a high uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our prior medium uncertainty rating for Intel was driven by its scale and dominant position in x86 PC and server CPUs.",
    "output": "[Cause] its scale and dominant position in x86 PC and server CPUs [Relation] cause [Effect] Our prior medium uncertainty rating for Intel",
    "gold": "[Cause]  its scale and dominant position in x86 PC and server CPUs [Relation] cause [Effect] Our prior medium uncertainty rating for Intel",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because Amphenol's share of the overall bill of materials is relatively low, price isn't the driving consideration for a supplier or OEM; customers will prioritize cutting-edge technology and reliability, and pay a premium for them.",
    "output": "[Cause] Amphenol's share of the overall bill of materials is relatively low [Relation] cause [Effect] price isn't the driving consideration for a supplier or OEM",
    "gold": "[Cause] Amphenol's share of the overall bill of materials is relatively low [Relation] cause [Effect] price isn't the driving consideration for a supplier or OEM",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With its assets in cities of little or no focus to big fiber holders like AT&amp;T, Verizon, Crown Castle, and Zayo, we think Uniti could have efficient scale benefits over much of its footprint.",
    "output": "[Cause] its assets in cities of little or no focus to big fiber holders like AT&amp;T, Verizon, Crown Castle, and Zayo [Relation] enable [Effect] Uniti could have efficient scale benefits over much of its footprint",
    "gold": "[Cause] its assets in cities of little or no focus to big fiber holders like AT&amp;T, Verizon, Crown Castle, and Zayo [Relation] enable [Effect] Uniti could have efficient scale benefits over much of its footprint",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Retailers are becoming more selective with their physical locations, opting to locate storefronts in the highest quality assets while closing stores in low productivity sites.",
    "output": "[Cause] Retailers are becoming more selective with their physical locations [Relation] cause [Effect] opting to locate storefronts in the highest quality assets while closing stores in low productivity sites",
    "gold": "[Cause] Retailers are becoming more selective with their physical locations [Relation] cause [Effect] opting to locate storefronts in the highest quality assets while closing stores in low productivity sites",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Hubbell's lighting business will continue facing pressures on the residential side from cheaper Chinese competitors, we believe the nonresidential side of the business still consists of national account sales that are fairly sticky and value differentiated technology, including Power of Ethernet cloud analytics.",
    "output": "[Cause] the nonresidential side of the business still consists of national account sales that are fairly sticky and value differentiated technology, including Power of Ethernet cloud analytics [Relation] cause [Effect] Hubbell's lighting business will continue facing pressures on the residential side from cheaper Chinese competitors",
    "gold": "[Cause]  the residential side from cheaper Chinese competitors [Relation] prevent [Effect] Hubbell's lighting business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We anticipate IFRS gross margins will increase modestly to 84% over the next five years, driven by improving scale in subscriptions, offset by an increasing mix of subscriptions within total revenue.",
    "output": "[Cause] improving scale in subscriptions [Relation] cause [Effect] IFRS gross margins will increase modestly to 84% over the next five years",
    "gold": "[Cause] improving scale in subscriptions [Relation] cause [Effect] IFRS gross margins will increase modestly to 84% over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate IFRS gross margins will increase modestly to 84% over the next five years, driven by improving scale in subscriptions, offset by an increasing mix of subscriptions within total revenue.",
    "output": "[Cause] an increasing mix of subscriptions within total revenue [Relation] cause [Effect] IFRS gross margins will increase modestly to 84% over the next five years",
    "gold": "[Cause] an increasing mix of subscriptions within total revenue [Relation] prevent [Effect] IFRS gross margins will increase modestly to 84% over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "When restrictions are lifted around half way through the year, we expect pent-up demand for social gatherings to provide a fairly strong volume rebound, but high unemployment rates mean it takes another year for volumes to recover to their prior levels.",
    "output": "[Cause] restrictions are lifted around half way through the year [Relation] cause [Effect] pent-up demand for social gatherings to provide a fairly strong volume rebound",
    "gold": "[Cause] pent-up demand for social gatherings [Relation] cause [Effect] a fairly strong volume rebound",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the short-term nature of these leases and the growing demand for self-storage space, management had been able to achieve material rent increases from new and existing tenants.",
    "output": "[Cause] the short-term nature of these leases and the growing demand for self-storage space [Relation] enable [Effect] management had been able to achieve material rent increases from new and existing tenants",
    "gold": "[Cause]  the short-term nature of these leases and the growing demand for self-storage space [Relation] enable [Effect] management had been able to achieve material rent increases from new and existing tenants",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over our five-year explicit forecast term, we project average annual organic sales growth in the low to midsingle digits in industrial precision solutions and high single digits in advanced technology solutions, resulting in an average annual organic revenue growth for the firm of approximately 7.5% through fiscal 2025.",
    "output": "[Cause] average annual organic sales growth in the low to midsingle digits in industrial precision solutions and high single digits in advanced technology solutions [Relation] cause [Effect] an average annual organic revenue growth for the firm of approximately 7.5% through fiscal 2025",
    "gold": "[Cause]  average annual organic sales growth in the low to midsingle digits in industrial precision solutions and high single digits in advanced technology solutions [Relation] cause [Effect] an average annual organic revenue growth for the firm of approximately 7.5% through fiscal 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're raising our fair value estimate to $263 per share, up from $240, after incorporating more optimistic expectations for the commercialization of G7. This puts our projected $5.1 billion in revenue by 2025 beyond the top end of management's outlook for $4.0 billion to $4.5 billion in revenue by 2025, shared at Dexcom's investor day.",
    "output": "[Cause] We're raising our fair value estimate to $263 per share, up from $240, after incorporating more optimistic expectations for the commercialization of G7 [Relation] cause [Effect] puts our projected $5.1 billion in revenue by 2025 beyond the top end of management's outlook for $4.0 billion to $4.5 billion in revenue by 2025, shared at Dexcom's investor day",
    "gold": "[Cause] We're raising our fair value estimate to $263 per share, up from $240, after incorporating more optimistic expectations for the commercialization of G7 [Relation] cause [Effect]  puts our projected $5.1 billion in revenue by 2025 beyond the top end of management's outlook for $4.0 billion to $4.5 billion in revenue by 2025, shared at Dexcom's investor day",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Xilinx's revenue will achieve a 7% CAGR over the next five years, though fiscal 2021 will be challenging due to COVID-19-related headwinds.",
    "output": "[Cause] COVID-19-related headwinds [Relation] cause [Effect] fiscal 2021 will be challenging",
    "gold": "[Cause] COVID-19-related headwinds [Relation] cause [Effect] fiscal 2021 will be challenging",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the COVID-19 outbreak will accelerate the shift to e-commerce from physical store sales and forecast 1% long-term comparable sales growth for Kohl's.",
    "output": "[Cause] the COVID-19 outbreak [Relation] cause [Effect] accelerate the shift to e-commerce from physical store sales and forecast 1% long-term comparable sales growth for Kohl's",
    "gold": "[Cause] the shift to e-commerce [Relation] enable [Effect] sales growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect adjusted operating margin to rebound from 13.2% in 2020 to nearly 15% by 2023 as the firm's stranded cost headwinds related to the spin-off ease and its mix of service revenue increases.",
    "output": "[Cause] the firm's stranded cost headwinds related to the spin-off ease and its mix of service revenue increases [Relation] cause [Effect] adjusted operating margin to rebound from 13.2% in 2020 to nearly 15% by 2023",
    "gold": "[Cause] the firm's stranded cost headwinds related to the spin-off ease and its mix of service revenue increases [Relation] cause [Effect] adjusted operating margin to rebound from 13.2% in 2020 to nearly 15% by 2023",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the COVID-19 outbreak has lifted near-term revenue as shoppers stock up and stay home, increased digital transactions could linger, shifting sales into a less lucrative channel long-term.",
    "output": "[Cause] shoppers stock up and stay home [Relation] cause [Effect] lifted near-term revenue",
    "gold": "[Cause] shoppers stock up and stay home [Relation] cause [Effect] lifted near-term revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the COVID-19 outbreak has lifted near-term revenue as shoppers stock up and stay home, increased digital transactions could linger, shifting sales into a less lucrative channel long-term.",
    "output": "[Cause] increased digital transactions could linger [Relation] cause [Effect] shifting sales into a less lucrative channel long-term",
    "gold": "[Cause] increased digital transactions could linger [Relation] enable [Effect] shifting sales into a less lucrative channel long-term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect operating expenses to continue to increase as the company funds clinical trials and commercializes Onpattro and, if approved, other therapies.",
    "output": "[Cause] the company funds clinical trials and commercializes Onpattro and, if approved, other therapies [Relation] cause [Effect] operating expenses to continue to increase",
    "gold": "[Cause]  the company funds clinical trials and commercializes Onpattro and, if approved, other therapies [Relation] cause [Effect] operating expenses to continue to increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through its brokerage segment, which accounts for about a third of revenue, Willis Towers Watson acts as an advisor and insurance broker, helping clients manage their risk by negotiating and placing their insurance risk with insurance carriers through a global distribution network.",
    "output": "[Cause] its brokerage segment [Relation] enable [Effect] accounts for about a third of revenue",
    "gold": "[Cause] negotiating and placing their insurance risk with insurance carriers through a global distribution network [Relation] cause [Effect] helping clients manage their risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Through its brokerage segment, which accounts for about a third of revenue, Willis Towers Watson acts as an advisor and insurance broker, helping clients manage their risk by negotiating and placing their insurance risk with insurance carriers through a global distribution network.",
    "output": "[Cause] negotiating and placing their insurance risk with insurance carriers through a global distribution network [Relation] enable [Effect] clients manage their risk",
    "gold": "[Cause] negotiating and placing their insurance risk with insurance carriers through a global distribution network [Relation] enable [Effect]  clients manage their risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Unconstructive regulatory decisions are more likely in a period of rising electricity rates, an event that would likely occur with increasing fuel costs and tighter environmental restrictions on coal-fired and nuclear power plants.",
    "output": "[Cause] increasing fuel costs and tighter environmental restrictions on coal-fired and nuclear power plants [Relation] cause [Effect] Unconstructive regulatory decisions are more likely in a period of rising electricity rates",
    "gold": "[Cause]  increasing fuel costs and tighter environmental restrictions on coal-fired and nuclear power plants [Relation] enable [Effect] Unconstructive regulatory decisions are more likely in a period of rising electricity rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A significant portion of increased profitability over the past five years has come from declining credit costs, an area without much more room to run going forward.",
    "output": "[Cause] declining credit costs [Relation] cause [Effect] A significant portion of increased profitability over the past five years",
    "gold": "[Cause] declining credit costs [Relation] cause [Effect] A significant portion of increased profitability over the past five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For PC client games, Tencent owns the global top PC client game in terms of revenue, League of Legends, through full acquisition of Riot Games, the American video game developer.",
    "output": "[Cause] full acquisition of Riot Games, the American video game developer [Relation] enable [Effect] Tencent owns the global top PC client game in terms of revenue, League of Legends",
    "gold": "[Cause] full acquisition of Riot Games, the American video game developer [Relation] enable [Effect] Tencent owns the global top PC client game in terms of revenue, League of Legends",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Apple's Intelligent Tracking Prevention feature on its Safari browser will limit Criteo's ability to capture additional user data, in turn weighing on Criteo's revenue and future returns on invested capital.",
    "output": "[Cause] Apple's Intelligent Tracking Prevention feature on its Safari browser [Relation] prevent [Effect] Criteo's ability to capture additional user data",
    "gold": "[Cause] Apple's Intelligent Tracking Prevention feature on its Safari browser [Relation] prevent [Effect] Criteo's ability to capture additional user data",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Apple's Intelligent Tracking Prevention feature on its Safari browser will limit Criteo's ability to capture additional user data, in turn weighing on Criteo's revenue and future returns on invested capital.",
    "output": "[Cause] Apple's Intelligent Tracking Prevention feature on its Safari browser [Relation] prevent [Effect] Criteo's ability to capture additional user data",
    "gold": "[Cause] Apple's Intelligent Tracking Prevention feature on its Safari browser will limit Criteo's ability to capture additional user data [Relation] cause [Effect] weighing on Criteo's revenue and future returns on invested capital",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect that pricing can grow around 2.2% annually, after COVID-19 and between 2021 and 2029, with capacity growth that slows to 3% in the final five years of our outlook as Royal adjusts to changes in demand.",
    "output": "[Cause] Royal adjusts to changes in demand [Relation] cause [Effect] capacity growth that slows to 3% in the final five years of our outlook",
    "gold": "[Cause] Royal adjusts to changes in demand [Relation] cause [Effect] capacity growth that slows to 3% in the final five years of our outlook",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Oil & Gas Refining & MarketingHowever, the viability of these investments remain reliant on a commodity price recovery to drive an increase in drilling activity.",
    "output": "[Cause] a commodity price recovery [Relation] enable [Effect] drive an increase in drilling activity",
    "gold": "[Cause] a commodity price recovery [Relation] enable [Effect] the viability of these investments remain reliant",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Oil & Gas Refining & MarketingHowever, the viability of these investments remain reliant on a commodity price recovery to drive an increase in drilling activity.",
    "output": "[Cause] a commodity price recovery [Relation] enable [Effect] drive an increase in drilling activity",
    "gold": "[Cause] the viability of these investments remain reliant [Relation] cause [Effect] drive an increase in drilling activity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Beyond stakeholder issues, we believe refineries that run a heavy crude slate that requires Canadian heavy are increasingly looking to renewable diesel (produced from food waste), raising significant questions around the sustainability of long-term demand.",
    "output": "[Cause] refineries that run a heavy crude slate that requires Canadian heavy are increasingly looking to renewable diesel (produced from food waste) [Relation] cause [Effect] raising significant questions around the sustainability of long-term demand",
    "gold": "[Cause]  refineries that run a heavy crude slate that requires Canadian heavy are increasingly looking to renewable diesel (produced from food waste) [Relation] enable [Effect]  raising significant questions around the sustainability of long-term demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're lowering our fair value estimate to $75 per share from $77 after lowering our probability of approval for Jyseleca/filgotinib in the U.S.",
    "output": "[Cause] lowering our probability of approval for Jyseleca/filgotinib in the U.S [Relation] cause [Effect] We're lowering our fair value estimate to $75 per share from $77",
    "gold": "[Cause] lowering our probability of approval for Jyseleca/filgotinib in the U.S [Relation] cause [Effect] We're lowering our fair value estimate to $75 per share from $77",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Mosaic's cost position is set to improve, however, as the company ramps up production at its new K3 mine at Esterhazy, which will eliminate the brine inflow expenses by next year.",
    "output": "[Cause] Mosaic's cost position is set to improve, however, as the company ramps up production at its new K3 mine at Esterhazy [Relation] cause [Effect] eliminate the brine inflow expenses by next year",
    "gold": "[Cause] Mosaic's cost position is set to improve, however, as the company ramps up production at its new K3 mine at Esterhazy [Relation] enable [Effect] eliminate the brine inflow expenses by next year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While ITW's product line simplification is an operating tactic, we believe Hi-Cone's focus on a specific niche of the market allows it to generate a higher volume of orders relative to competitors, as with Hi-Cone's emphasis on small multipacks ranging from four to 12 containers.",
    "output": "[Cause] Hi-Cone's focus on a specific niche of the market [Relation] enable [Effect] it to generate a higher volume of orders relative to competitors",
    "gold": "[Cause] Hi-Cone's focus on a specific niche of the market [Relation] enable [Effect]  it to generate a higher volume of orders relative to competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even though Sempra's LNG unit has no commodity or volumetric exposure, a lower-for-longer view on natural gas prices in North America should be a boon for Sempra's infrastructure businesses.",
    "output": "[Cause] a lower-for-longer view on natural gas prices in North America [Relation] enable [Effect] a boon for Sempra's infrastructure businesses",
    "gold": "[Cause]  a lower-for-longer view on natural gas prices in North America [Relation] enable [Effect] a boon for Sempra's infrastructure businesses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The decision to split off Vantage Towers into a publicly traded infrastructure firm, for example, creates the potential for conflict of interest between it and Vodafone while also introducing new execution risk as Vantage seeks to expand its customer base.",
    "output": "[Cause] Vantage seeks to expand its customer base [Relation] cause [Effect] introducing new execution risk",
    "gold": "[Cause] The decision to split off Vantage Towers into a publicly traded infrastructure firm [Relation] cause [Effect] the potential for conflict of interest between it and Vodafone",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, Arista's products facilitate in the transfer of data, which may attract cybercriminals, and its solutions are tasked with protecting customers from cyberattacks, making data privacy and security a key concern.",
    "output": "[Cause] Arista's products facilitate in the transfer of data [Relation] cause [Effect] attract cybercriminals",
    "gold": "[Cause] Arista's products facilitate in the transfer of data [Relation] enable [Effect] attract cybercriminals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Echo's value proposition strengthens in such an environment, gross margins usually get squeezed in the short run as carrier rates spike.",
    "output": "[Cause] carrier rates spike [Relation] cause [Effect] gross margins usually get squeezed in the short run",
    "gold": "[Cause]  carrier rates spike [Relation] enable [Effect] gross margins usually get squeezed in the short run",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the firm's recent shift toward working with hospital-based labs could hamper efficiency even further due to the higher cost structure of the latter.",
    "output": "[Cause] the higher cost structure of the latter [Relation] cause [Effect] hamper efficiency even further",
    "gold": "[Cause]  the firm's recent shift toward working with hospital-based labs [Relation] enable [Effect] hamper efficiency even further",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think the firm's recent shift toward working with hospital-based labs could hamper efficiency even further due to the higher cost structure of the latter.",
    "output": "[Cause] the higher cost structure of the latter [Relation] cause [Effect] hamper efficiency even further",
    "gold": "[Cause] the higher cost structure of the latter [Relation] cause [Effect] hamper efficiency even further",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe personal computer purchases will contract as more households primarily use smartphones for computing tasks and as cloud-based software upgrades can delay the impetus to upgrade computer hardware.",
    "output": "[Cause] more households primarily use smartphones for computing tasks and as cloud-based software upgrades can delay the impetus to upgrade computer hardware [Relation] cause [Effect] personal computer purchases will contract",
    "gold": "[Cause] more households primarily use smartphones for computing tasks and as cloud-based software upgrades can delay the impetus to upgrade computer hardware [Relation] prevent [Effect] personal computer purchases will contract",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We now expect a 3.2% top-line compound annual growth rate and an 18.3% average operating margin over the next five years, reflecting progress in the execution of Nestle's structural cost-reduction plans, the impact of growth-accretive acquisitions and divestitures, and an improvement in its underlying legacy businesses.",
    "output": "[Cause] progress in the execution of Nestle's structural cost-reduction plans, the impact of growth-accretive acquisitions and divestitures, and an improvement in its underlying legacy businesses [Relation] cause [Effect] a 3.2% top-line compound annual growth rate and an 18.3% average operating margin over the next five years",
    "gold": "[Cause] We now expect a 3.2% top-line compound annual growth rate and an 18.3% average operating margin over the next five years [Relation] cause [Effect] progress in the execution of Nestle's structural cost-reduction plans, the impact of growth-accretive acquisitions and divestitures, and an improvement in its underlying legacy businesses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Though relationships can be sticky, client losses can occur from a competitive request for proposal bid or from bank mergers.",
    "output": "[Cause] a competitive request for proposal bid or from bank mergers [Relation] cause [Effect] client losses can occur",
    "gold": "[Cause] a competitive request for proposal bid or from bank mergers [Relation] cause [Effect] client losses can occur",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the market is large enough for multiple successful players and that Lululemon will maintain its position among the leaders.",
    "output": "[Cause] the market is large enough for multiple successful players [Relation] enable [Effect] Lululemon will maintain its position among the leaders",
    "gold": "[Cause] the market is large enough for multiple successful players [Relation] enable [Effect] Lululemon will maintain its position among the leaders",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After reviewing Airbnb's first-quarter results, we have increased our fair value estimate to $84 per share from $75, to account for a stronger demand recovery, mitigated by incorporating an increase in the U.S.",
    "output": "[Cause] incorporating an increase in the U.S [Relation] cause [Effect] a stronger demand recovery",
    "gold": "[Cause]  a stronger demand recovery [Relation] cause [Effect] we have increased our fair value estimate to $84 per share from $75",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After reviewing Airbnb's first-quarter results, we have increased our fair value estimate to $84 per share from $75, to account for a stronger demand recovery, mitigated by incorporating an increase in the U.S.",
    "output": "[Cause] incorporating an increase in the U.S [Relation] cause [Effect] a stronger demand recovery",
    "gold": "[Cause] incorporating an increase in the U.S [Relation] prevent [Effect]  a stronger demand recovery",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Adjusted operating margins rose from 34% in 2013 to 53% in 2020, which we attribute to streamlining operations and revenue growth.",
    "output": "[Cause] streamlining operations and revenue growth [Relation] cause [Effect] Adjusted operating margins rose from 34% in 2013 to 53% in 2020",
    "gold": "[Cause] streamlining operations and revenue growth [Relation] enable [Effect] Adjusted operating margins rose from 34% in 2013 to 53% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "PSXP and Phillips 66 appear to have an amicable relationship and we expect they will agree on uncontested rates for the foreseeable future.",
    "output": "[Cause] PSXP and Phillips 66 appear to have an amicable relationship [Relation] enable [Effect] we expect they will agree on uncontested rates for the foreseeable future",
    "gold": "[Cause] PSXP and Phillips 66 appear to have an amicable relationship [Relation] cause [Effect] we expect they will agree on uncontested rates for the foreseeable future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Adjusted gross margin understandably dipped in 2020 due to COVID-19 headwinds, but we anticipate a bounceback to 54% in 2021 and the company exceeding 55% by 2023.",
    "output": "[Cause] COVID-19 headwinds [Relation] cause [Effect] Adjusted gross margin understandably dipped in 2020",
    "gold": "[Cause]  COVID-19 headwinds [Relation] cause [Effect] Adjusted gross margin understandably dipped in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The two recent acquisitions of Magento and Marketo also pose risks, as those were on the large side for the company, despite its $125 billion market cap.",
    "output": "[Cause] those were on the large side for the company [Relation] cause [Effect] The two recent acquisitions of Magento and Marketo also pose risks",
    "gold": "[Cause] The two recent acquisitions of Magento and Marketo [Relation] cause [Effect]  risks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, given our expectations that a settlement could top $1.1 billion, it could significantly impair the equity value of the business.",
    "output": "[Cause] our expectations that a settlement could top $1.1 billion [Relation] cause [Effect] it could significantly impair the equity value of the business",
    "gold": "[Cause]  our expectations that a settlement could top $1.1 billion [Relation] cause [Effect]  it could significantly impair the equity value of the business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, Hunt's total revenue grew 5% in 2020 despite the pandemic, thanks to a strong rebound in demand and pricing for the trucking and highway brokerage divisions.",
    "output": "[Cause] a strong rebound in demand and pricing for the trucking and highway brokerage divisions [Relation] cause [Effect] Hunt's total revenue grew 5% in 2020",
    "gold": "[Cause] a strong rebound in demand and pricing for the trucking and highway brokerage divisions [Relation] cause [Effect] Hunt's total revenue grew 5% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2020, as a result of temporary factory shutdowns and dealer closures (as well as the pushback of product launches until spring 2021), Harley ceded massive market share.",
    "output": "[Cause] temporary factory shutdowns and dealer closures (as well as the pushback of product launches until spring 2021) [Relation] cause [Effect] Harley ceded massive market share",
    "gold": "[Cause]  temporary factory shutdowns and dealer closures (as well as the pushback of product launches until spring 2021) [Relation] cause [Effect] Harley ceded massive market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the plan makes sense because it essentially recognizes Imperial's place in the marketplace: it is a fast follower, rather than a leader, in most markets, but a highly profitable one with strong cash flow generation potential that should drive returns to shareholders higher in the coming years.",
    "output": "[Cause] it essentially recognizes Imperial's place in the marketplace [Relation] cause [Effect] the plan makes sense",
    "gold": "[Cause]  it essentially recognizes Imperial's place in the marketplace [Relation] enable [Effect]  the plan makes sense",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the segment suffered a 35% sales decline in 2020 due to the virus, we expect 35% sales growth in 2021 as the economy improves and stores operate a full capacity.",
    "output": "[Cause] the virus [Relation] cause [Effect] the segment suffered a 35% sales decline in 2020",
    "gold": "[Cause] the virus [Relation] cause [Effect]  the segment suffered a 35% sales decline in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given its scale-driven cost advantage (as we'll discuss), we believe that sustained discounting by competitors (Del Taco, Qdoba, etc.) is unlikely, with Taco Bell able to match or exceed price cuts while maintaining higher margins.",
    "output": "[Cause] its scale-driven cost advantage [Relation] cause [Effect] sustained discounting by competitors (Del Taco, Qdoba, etc.) is unlikely",
    "gold": "[Cause] Taco Bell able to match or exceed price cuts while maintaining higher margins [Relation] cause [Effect] Given its scale-driven cost advantage (as we'll discuss), we believe that sustained discounting by competitors (Del Taco, Qdoba, etc.) is unlikely",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The market services business received a nice bump in revenue in 2020 from higher market volatility and changes in retail investor behavior because of COVID-19, which we expect will partially revert in the following quarters.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] The market services business received a nice bump in revenue in 2020 from higher market volatility and changes in retail investor behavior",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] The market services business received a nice bump in revenue in 2020 from higher market volatility and changes in retail investor behavior",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, Lumen's biggest environmental, social, and governance risk is that of a data or security breach, given the firm is entrusted with and transports enormous amounts of sensitive data.",
    "output": "[Cause] the firm is entrusted with and transports enormous amounts of sensitive data [Relation] cause [Effect] Lumen's biggest environmental, social, and governance risk is that of a data or security breach",
    "gold": "[Cause] the firm is entrusted with and transports enormous amounts of sensitive data [Relation] cause [Effect]  Lumen's biggest environmental, social, and governance risk is that of a data or security breach",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Grainger uses its reputation with suppliers and its scale to expand its vendor base and product selection, take advantage of sales incentives and volume rebates, and gain preferential access to supplier resources and support, which in turn, allows Grainger to offer its customers better product selection, pricing, and services.",
    "output": "[Cause] Grainger uses its reputation with suppliers and its scale to expand its vendor base and product selection, take advantage of sales incentives and volume rebates, and gain preferential access to supplier resources and support [Relation] enable [Effect] Grainger to offer its customers better product selection, pricing, and services",
    "gold": "[Cause] Grainger uses its reputation with suppliers and its scale to expand its vendor base and product selection, take advantage of sales incentives and volume rebates, and gain preferential access to supplier resources and support [Relation] enable [Effect] Grainger to offer its customers better product selection, pricing, and services",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Coupa should benefit from operating leverage, and we expect expansion in GAAP operating margin from negative 19% in fiscal 2020 to 4% in fiscal 2025.",
    "output": "[Cause] operating leverage [Relation] enable [Effect] expansion in GAAP operating margin from negative 19% in fiscal 2020 to 4% in fiscal 2025",
    "gold": "[Cause] operating leverage [Relation] cause [Effect] expansion in GAAP operating margin from negative 19% in fiscal 2020 to 4% in fiscal 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Any competition could lead to a loss of business leads and a resulting decline in revenue or decreased margins as Paylocity needs to motivate its broker network in order to maintain top-line growth.",
    "output": "[Cause] Paylocity needs to motivate its broker network in order to maintain top-line growth [Relation] cause [Effect] Any competition could lead to a loss of business leads and a resulting decline in revenue or decreased margins",
    "gold": "[Cause]  Paylocity needs to motivate its broker network in order to maintain top-line growth [Relation] cause [Effect] Any competition could lead to a loss of business leads and a resulting decline in revenue or decreased margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Once children age through the PBkids and PBteen brands, they will have experience with Williams-Sonoma's offerings at some level, igniting a level of brand awareness with future customers before they even have an interest in furniture or home furnishings.",
    "output": "[Cause] children age through the PBkids and PBteen brands [Relation] cause [Effect] they will have experience with Williams-Sonoma's offerings at some level, igniting a level of brand awareness with future customers before they even have an interest in furniture or home furnishings",
    "gold": "[Cause] children age through the PBkids and PBteen brands [Relation] cause [Effect] they will have experience with Williams-Sonoma's offerings at some level, igniting a level of brand awareness with future customers before they even have an interest in furniture or home furnishings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Like other Permian operators, Pioneer's production is weighted toward liquids鈥攐ver 80% of its output is crude oil and natural gas liquids, boosting unit revenue.",
    "output": "[Cause] Pioneer's production is weighted toward liquidsver 80% of its output is crude oil and natural gas liquids [Relation] enable [Effect] boosting unit revenue",
    "gold": "[Cause] Pioneer's production is weighted toward liquids鈥攐ver 80% of its output is crude oil and natural gas liquids [Relation] cause [Effect] boosting unit revenue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given our view of near-double-digit growth in the segment over our five-year forecast period, the higher margin assumptions in the unit accounts for the bulk of our valuation increase.",
    "output": "[Cause] near-double-digit growth in the segment over our five-year forecast period [Relation] cause [Effect] the higher margin assumptions in the unit accounts for the bulk of our valuation increase",
    "gold": "[Cause] near-double-digit growth in the segment over our five-year forecast period [Relation] cause [Effect] the higher margin assumptions in the unit accounts for the bulk of our valuation increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Promotions have also run rampant in the consumer products space (in both developed and emerging markets) at times in the recent past, and with such a narrowly focused category assortment, at some point Colgate may see diminishing returns as it reaches a ceiling on its market share potential.",
    "output": "[Cause] it reaches a ceiling on its market share potential [Relation] cause [Effect] at some point Colgate may see diminishing returns",
    "gold": "[Cause] it reaches a ceiling on its market share potential [Relation] cause [Effect] at some point Colgate may see diminishing returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the long-term, we believe Check Point can expand operating margin via its shift toward more recurring and subscription-based revenue streams while gaining leverage from a retooled salesforce.",
    "output": "[Cause] its shift toward more recurring and subscription-based revenue streams while gaining leverage from a retooled salesforce [Relation] enable [Effect] Check Point can expand operating margin",
    "gold": "[Cause] expand operating margin | subscription-based revenue streams [Relation] cause [Effect]  gaining leverage from a retooled salesforce.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Once a hospital purchases Intuitive's system, switching costs become exorbitant, as the average system price around $1.5 million represents a large portion of a typical hospital's annual capital-expenditure budget.",
    "output": "[Cause] the average system price around $1.5 million represents a large portion of a typical hospital's annual capital-expenditure budget [Relation] cause [Effect] Once a hospital purchases Intuitive's system, switching costs become exorbitant",
    "gold": "[Cause] the average system price around $1.5 million represents a large portion of a typical hospital's annual capital-expenditure budget [Relation] cause [Effect] Once a hospital purchases Intuitive's system, switching costs become exorbitant",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Once a hospital purchases Intuitive's system, switching costs become exorbitant, as the average system price around $1.5 million represents a large portion of a typical hospital's annual capital-expenditure budget.",
    "output": "[Cause] the average system price around $1.5 million represents a large portion of a typical hospital's annual capital-expenditure budget [Relation] cause [Effect] switching costs become exorbitant",
    "gold": "[Cause] a hospital purchases Intuitive's system [Relation] cause [Effect] switching costs become exorbitant",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A switch in consumer spending patterns toward home improvement activity during the coronavirus pandemic contributed to the group's 7% organic sales growth in 2020-21.",
    "output": "[Cause] A switch in consumer spending patterns toward home improvement activity during the coronavirus pandemic [Relation] cause [Effect] the group's 7% organic sales growth in 2020-21",
    "gold": "[Cause] contributed to the group's 7% organic sales growth in 2020-21 [Relation] cause [Effect] A switch in consumer spending patterns toward home improvement activity during the coronavirus pandemic",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As a limited partner, unitholders are required to report the pro rata share of the company's taxable income on their own individual income tax returns, as the quarterly cash distributions that the firm issues are considered a return of capital as opposed to interest or dividend income.",
    "output": "[Cause] the quarterly cash distributions that the firm issues are considered a return of capital as opposed to interest or dividend income [Relation] cause [Effect] unitholders are required to report the pro rata share of the company's taxable income on their own individual income tax returns",
    "gold": "[Cause] the quarterly cash distributions that the firm issues are considered a return of capital as opposed to interest or dividend income [Relation] cause [Effect] unitholders are required to report the pro rata share of the company's taxable income on their own individual income tax returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Losing this automation would slow down employees, lead to potential errors in processes, and lead to fewer insights on how to assist customers.",
    "output": "[Cause] Losing this automation [Relation] cause [Effect] slow down employees, lead to potential errors in processes, and lead to fewer insights on how to assist customers",
    "gold": "[Cause] Losing this automation [Relation] cause [Effect] slow down employees, lead to potential errors in processes, and lead to fewer insights on how to assist customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the parent were to drop down these assets to CNOOC, the firm's operating margins would take a substantial hit.",
    "output": "[Cause] the parent were to drop down these assets to CNOOC [Relation] cause [Effect] the firm's operating margins would take a substantial hit",
    "gold": "[Cause] the parent were to drop down these assets to CNOOC [Relation] enable [Effect] the firm's operating margins would take a substantial hit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With an aging product portfolio, Nissan has been reversing the previous strategy, refocusing the product portfolio, reducing incentives, and cutting sales to daily rental car companies.",
    "output": "[Cause] an aging product portfolio [Relation] cause [Effect] Nissan has been reversing the previous strategy",
    "gold": "[Cause]  Nissan has been reversing the previous strategy, refocusing the product portfolio [Relation] cause [Effect]  reducing incentives",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "IQVIA's industry-leading database of over 600 million patients (from IMS Health, its legacy data business) and LabCorp's unique ability to access data from its 500 million-plus diagnostic tests per year stand out above the other competitors.",
    "output": "[Cause] IQVIA's industry-leading database of over 600 million patients (from IMS Health, its legacy data business) and LabCorp's unique ability to access data from its 500 million-plus diagnostic tests per year [Relation] enable [Effect] stand out above the other competitors",
    "gold": "[Cause] IQVIA's industry-leading database of over 600 million patients (from IMS Health, its legacy data business) and LabCorp's unique ability to access data from its 500 million-plus diagnostic tests per year [Relation] enable [Effect] stand out above the other competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our profitability outlook assumes that Fastenal will face gross margin pressure due to increased price competition and a growing mix of on-site and national account businesses, which tend to generate lower gross margins.",
    "output": "[Cause] increased price competition and a growing mix of on-site and national account businesses [Relation] cause [Effect] Fastenal will face gross margin pressure",
    "gold": "[Cause] increased price competition and a growing mix of on-site and national account businesses [Relation] cause [Effect] Fastenal will face gross margin pressure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our profitability outlook assumes that Fastenal will face gross margin pressure due to increased price competition and a growing mix of on-site and national account businesses, which tend to generate lower gross margins.",
    "output": "[Cause] Fastenal will face gross margin pressure [Relation] cause [Effect] generate lower gross margins",
    "gold": "[Cause] Fastenal will face gross margin pressure [Relation] cause [Effect] generate lower gross margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On a normalized basis, we believe this segment can earn ROICs in the lower 20s over our five-year explicit forecast, which we find impressive given the cyclical nature of its end markets.",
    "output": "[Cause] the cyclical nature of its end markets [Relation] cause [Effect] this segment can earn ROICs in the lower 20s over our five-year explicit forecast",
    "gold": "[Cause] On a normalized basis [Relation] cause [Effect]  this segment can earn ROICs in the lower 20s over our five-year explicit forecast",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Income growth in a metropolitan area leads to rent growth, as tenants can afford higher housing costs as their incomes increase.",
    "output": "[Cause] Income growth in a metropolitan area [Relation] cause [Effect] rent growth",
    "gold": "[Cause] Income growth in a metropolitan area [Relation] enable [Effect] rent growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Income growth in a metropolitan area leads to rent growth, as tenants can afford higher housing costs as their incomes increase.",
    "output": "[Cause] tenants can afford higher housing costs as their incomes increase [Relation] cause [Effect] rent growth",
    "gold": "[Cause] their incomes increase [Relation] cause [Effect] tenants can afford higher housing costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Years-long product development cycles, commonality issues, training costs, and the potential for allied or civilian casualties from product failure give switching costs to each product line within this segment.",
    "output": "[Cause] Years-long product development cycles, commonality issues, training costs, and the potential for allied or civilian casualties from product failure [Relation] cause [Effect] switching costs to each product line within this segment",
    "gold": "[Cause] Years-long product development cycles, commonality issues, training costs, and the potential for allied or civilian casualties from product failure [Relation] cause [Effect] switching costs to each product line within this segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company has benefited substantially from the runup in petrochemical and titanium dioxide prices, allowing Sherwin to push on prices that haven't yet resulted in pushback.",
    "output": "[Cause] The company has benefited substantially from the runup in petrochemical and titanium dioxide prices [Relation] enable [Effect] Sherwin to push on prices that haven't yet resulted in pushback",
    "gold": "[Cause] The company has benefited substantially from the runup in petrochemical and titanium dioxide prices [Relation] enable [Effect] Sherwin to push on prices that haven't yet resulted in pushback",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "KT has recovered after reporting losses in both 2013 and 2014 and being forced to cut its dividend in 2014 to preserve cash on its stretched balance sheet.",
    "output": "[Cause] KT has recovered after reporting losses in both 2013 and 2014 and being forced to cut its dividend in 2014 [Relation] enable [Effect] preserve cash on its stretched balance sheet",
    "gold": "[Cause] KT has recovered after reporting losses in both 2013 and 2014 and being forced to cut its dividend in 2014 [Relation] enable [Effect] preserve cash on its stretched balance sheet",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With its merger with Worldpay in 2019, FIS expanded into merchant acquiring, and the merchant segment, which contains these operations, makes about 30% of pro forma revenue.",
    "output": "[Cause] its merger with Worldpay in 2019 [Relation] enable [Effect] FIS expanded into merchant acquiring",
    "gold": "[Cause] With its merger with Worldpay in 2019, FIS expanded into merchant acquiring [Relation] cause [Effect] the merchant segment, which contains these operations, makes about 30% of pro forma revenue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, areas of growth remain fiercely competitive, and life insurance will remain structurally difficult, making it hard for Sun Life to sustain any excess returns.",
    "output": "[Cause] areas of growth remain fiercely competitive [Relation] cause [Effect] life insurance will remain structurally difficult",
    "gold": "[Cause]  fiercely competitive [Relation] cause [Effect] hard for Sun Life to sustain any excess returns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, areas of growth remain fiercely competitive, and life insurance will remain structurally difficult, making it hard for Sun Life to sustain any excess returns.",
    "output": "[Cause] life insurance will remain structurally difficult [Relation] cause [Effect] hard for Sun Life to sustain any excess returns",
    "gold": "[Cause] life insurance will remain structurally difficult [Relation] cause [Effect] hard for Sun Life to sustain any excess returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Chevron does hold some refineries that qualify on the Gulf Coast and in the midcontinent, the bulk of its capacity does not have such an advantage given it is located in California.",
    "output": "[Cause] it is located in California [Relation] cause [Effect] the bulk of its capacity does not have such an advantage",
    "gold": "[Cause] it is located in California [Relation] cause [Effect] the bulk of its capacity does not have such an advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With so much fiber already in the ground, it's possible that wireless carriers like AT&amp;T or Verizon, or even cable companies like Charter or Comcast, will use their networks to rival Crown's.",
    "output": "[Cause] so much fiber already in the ground [Relation] cause [Effect] wireless carriers like AT&amp;T or Verizon, or even cable companies like Charter or Comcast, will use their networks to rival Crown's",
    "gold": "[Cause] so much fiber already in the ground [Relation] cause [Effect] wireless carriers like AT&amp;T or Verizon, or even cable companies like Charter or Comcast, will use their networks to rival Crown's",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the sensitive nature of consumers' data, data getting in the wrong hands can lead to adverse consequences for the credit bureaus.",
    "output": "[Cause] the sensitive nature of consumers' data [Relation] cause [Effect] data getting in the wrong hands can lead to adverse consequences for the credit bureaus",
    "gold": "[Cause] the sensitive nature of consumers' data | data getting in the wrong hands [Relation] cause [Effect]  adverse consequences for the credit bureaus",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, Cogent has indicated that its business model is only economical in the densest areas (about 10% of rentable office space), so we think legacy carriers are more likely to put their resources into the 90% of offices where they face less competition.",
    "output": "[Cause] its business model is only economical in the densest areas [Relation] cause [Effect] legacy carriers are more likely to put their resources into the 90% of offices where they face less competition",
    "gold": "[Cause] its business model is only economical in the densest areas [Relation] cause [Effect] legacy carriers are more likely to put their resources into the 90% of offices where they face less competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, Cogent has indicated that its business model is only economical in the densest areas (about 10% of rentable office space), so we think legacy carriers are more likely to put their resources into the 90% of offices where they face less competition.",
    "output": "[Cause] its business model is only economical in the densest areas [Relation] cause [Effect] legacy carriers are more likely to put their resources into the 90% of offices where they face less competition",
    "gold": "[Cause] they face less competition [Relation] cause [Effect]  legacy carriers are more likely to put their resources into the 90% of offices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The truckload capacity crunch dissipated in 2019 as small truckers adjusted to ELD-related disruption and because of a pullback in industrial end markets.",
    "output": "[Cause] a pullback in industrial end markets [Relation] cause [Effect] truckload capacity crunch dissipated in 2019",
    "gold": "[Cause] small truckers adjusted to ELD-related disruption [Relation] cause [Effect] The truckload capacity crunch dissipated in 2019",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The truckload capacity crunch dissipated in 2019 as small truckers adjusted to ELD-related disruption and because of a pullback in industrial end markets.",
    "output": "[Cause] a pullback in industrial end markets [Relation] cause [Effect] The truckload capacity crunch dissipated in 2019",
    "gold": "[Cause] a pullback in industrial end markets [Relation] cause [Effect] The truckload capacity crunch dissipated in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There tends to be little to no product differentiation in memory (DRAM) or storage (NAND), with average selling prices normally tracking downward over time. This ultimately leads to major price competition between Samsung, Micron, and SK Hynix, though the three firms have been acting more rationally in recent years to avoid price wars.",
    "output": "[Cause] There tends to be little to no product differentiation in memory (DRAM) or storage (NAND), with average selling prices normally tracking downward over time [Relation] cause [Effect] major price competition between Samsung, Micron, and SK Hynix, though the three firms have been acting more rationally in recent years to avoid price wars",
    "gold": "[Cause] There tends to be little to no product differentiation in memory (DRAM) or storage (NAND), with average selling prices normally tracking downward over time [Relation] cause [Effect] major price competition between Samsung, Micron, and SK Hynix, though the three firms have been acting more rationally in recent years to avoid price wars",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Verisign's monopoly scale should enable further expansion on this front, especially as top-line growth speeds up as a result of TLD price increases in certain contractual years.",
    "output": "[Cause] TLD price increases in certain contractual years [Relation] cause [Effect] top-line growth speeds up",
    "gold": "[Cause] Verisign's monopoly scale [Relation] enable [Effect]  further expansion on this front",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Verisign's monopoly scale should enable further expansion on this front, especially as top-line growth speeds up as a result of TLD price increases in certain contractual years.",
    "output": "[Cause] TLD price increases in certain contractual years [Relation] cause [Effect] top-line growth speeds up",
    "gold": "[Cause]  top-line growth speeds up [Relation] cause [Effect] TLD price increases in certain contractual years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect the pandemic will result in a drop in volumes and just over a 300-basis-point contraction in operating margins in fiscals 2020 and 2021, although we don't expect a long-term impact.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] a drop in volumes and just over a 300-basis-point contraction in operating margins in fiscals 2020 and 2021",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] a drop in volumes and just over a 300-basis-point contraction in operating margins in fiscals 2020 and 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Being a state-owned monopoly has hurt the firm financially, as it is obligated to import natural gas at a higher cost than it can sell it for.",
    "output": "[Cause] it is obligated to import natural gas at a higher cost than it can sell it for [Relation] cause [Effect] Being a state-owned monopoly has hurt the firm financially",
    "gold": "[Cause] Being a state-owned monopoly [Relation] cause [Effect]  hurt the firm financially",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Being a state-owned monopoly has hurt the firm financially, as it is obligated to import natural gas at a higher cost than it can sell it for.",
    "output": "[Cause] it is obligated to import natural gas at a higher cost than it can sell it for [Relation] cause [Effect] Being a state-owned monopoly has hurt the firm financially",
    "gold": "[Cause]  it is obligated to import natural gas at a higher cost than it can sell it for [Relation] cause [Effect] Being a state-owned monopoly has hurt the firm financially",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While consumables allow for less pricing power and profitability because of intense competition, we think Family Dollar's focus on smaller pack sizes (a function of its lower-income customers' need to sacrifice per-item value for absolute dollar economy) can allow for higher markups than competing retailers.",
    "output": "[Cause] intense competition [Relation] cause [Effect] consumables allow for less pricing power and profitability",
    "gold": "[Cause]  intense competition [Relation] cause [Effect]  consumables allow for less pricing power and profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In looking at the entire company, we project 10% annual sales growth over the next five years as new products should offset patent losses.",
    "output": "[Cause] new products should offset patent losses [Relation] cause [Effect] 10% annual sales growth over the next five years",
    "gold": "[Cause] new products should offset patent losses [Relation] cause [Effect] 10% annual sales growth over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cyclical downturns in freight demand compress profitability because excess capacity drives providers to slash rates in an attempt to salvage asset utilization, particularly in asset-intensive trucking.",
    "output": "[Cause] excess capacity drives providers to slash rates in an attempt to salvage asset utilization, particularly in asset-intensive trucking [Relation] cause [Effect] Cyclical downturns in freight demand compress profitability",
    "gold": "[Cause] excess capacity drives providers to slash rates in an attempt to salvage asset utilization, particularly in asset-intensive trucking [Relation] cause [Effect] Cyclical downturns in freight demand compress profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, the overall health of the Texas economy may be the biggest risk to the bank. This also exposes the bank to the energy industry, both in the south, and with the bank's acquisition of Western National, a higher exposure within the Permian basis as well.",
    "output": "[Cause] the overall health of the Texas economy may be the biggest risk to the bank [Relation] cause [Effect] exposes the bank to the energy industry, both in the south, and with the bank's acquisition of Western National, a higher exposure within the Permian basis as well",
    "gold": "[Cause] the overall health of the Texas economy may be the biggest risk to the bank [Relation] cause [Effect]  exposes the bank to the energy industry, both in the south, and with the bank's acquisition of Western National, a higher exposure within the Permian basis as well",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, growing demand from Industry 4.0 has meant that ABB and its close competitors have had to refresh their product offerings, acquiring or developing in-house industrial automation components and software.",
    "output": "[Cause] growing demand from Industry 4.0 [Relation] cause [Effect] ABB and its close competitors have had to refresh their product offerings, acquiring or developing in-house industrial automation components and software",
    "gold": "[Cause] growing demand from Industry 4.0 [Relation] cause [Effect] ABB and its close competitors have had to refresh their product offerings, acquiring or developing in-house industrial automation components and software",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By transforming data into common vernacular and views that are easily comprehensible, we believe a network effect exists within organizations as well.",
    "output": "[Cause] transforming data into common vernacular and views that are easily comprehensible [Relation] enable [Effect] a network effect exists within organizations as well",
    "gold": "[Cause]  transforming data into common vernacular and views that are easily comprehensible [Relation] enable [Effect] a network effect exists within organizations as well",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Especially in France, Orange's dominant fiber position in some areas prompts the firm to be viewed as operating a monopoly over fiber infrastructure.",
    "output": "[Cause] Orange's dominant fiber position in some areas [Relation] cause [Effect] the firm to be viewed as operating a monopoly over fiber infrastructure",
    "gold": "[Cause] Orange's dominant fiber position in some areas [Relation] cause [Effect] the firm to be viewed as operating a monopoly over fiber infrastructure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To reduce costs, Tesla focuses on automation and efficiency in its manufacturing process, such as reducing the total number of parts that need to be assembled in a vehicle.",
    "output": "[Cause] Tesla focuses on automation and efficiency in its manufacturing process [Relation] enable [Effect] reduce costs",
    "gold": "[Cause] Tesla focuses on automation and efficiency in its manufacturing process [Relation] enable [Effect] reduce costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The next several years will be heavy in terms of capital expenditures as BASF progresses through the development of its fully owned chemical park in China.",
    "output": "[Cause] BASF progresses through the development of its fully owned chemical park in China [Relation] cause [Effect] The next several years will be heavy in terms of capital expenditures",
    "gold": "[Cause]  BASF progresses through the development of its fully owned chemical park in China [Relation] enable [Effect] The next several years will be heavy in terms of capital expenditures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite the potential for increased near-term consumer sales (which we peg to grow 9% in fiscal 2020, outpacing its historic low- to mid-single-digit clip), its food-service business remains tepid as consumers continue to adhere to social distancing mandates.",
    "output": "[Cause] consumers continue to adhere to social distancing mandates [Relation] cause [Effect] its food-service business remains tepid",
    "gold": "[Cause] consumers continue to adhere to social distancing mandates [Relation] cause [Effect] its food-service business remains tepid",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite the potential for increased near-term consumer sales (which we peg to grow 9% in fiscal 2020, outpacing its historic low- to mid-single-digit clip), its food-service business remains tepid as consumers continue to adhere to social distancing mandates.",
    "output": "[Cause] consumers continue to adhere to social distancing mandates [Relation] cause [Effect] its food-service business remains tepid",
    "gold": "[Cause] the potential for increased near-term consumer sales [Relation] enable [Effect] we peg to grow 9% in fiscal 2020, outpacing its historic low- to mid-single-digit clip",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Retailers will want to keep their stores located in the top retail locations as the strong demographic trends produce high foot traffic and strong sales growth, but even these assets will slow in the future.",
    "output": "[Cause] the strong demographic trends produce high foot traffic and strong sales growth [Relation] cause [Effect] Retailers will want to keep their stores located in the top retail locations",
    "gold": "[Cause] the strong demographic trends produce high foot traffic and strong sales growth [Relation] enable [Effect] Retailers will want to keep their stores located in the top retail locations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Oil sands carbon intensity is among the highest among all the basins we cover, and it is disproportionately exposed to threats if countries and governments continue to seek ways to reduce greenhouse gas emissions.",
    "output": "[Cause] countries and governments continue to seek ways to reduce greenhouse gas emissions [Relation] cause [Effect] it is disproportionately exposed to threats",
    "gold": "[Cause] countries and governments continue to seek ways to reduce greenhouse gas emissions [Relation] cause [Effect] it is disproportionately exposed to threats",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given this is a scarce resource in some regions, Church could be forced to absorb increased costs and/or shortages that may hinder its ability to bring product to market in a timely fashion.",
    "output": "[Cause] this is a scarce resource in some regions [Relation] cause [Effect] Church could be forced to absorb increased costs and/or shortages",
    "gold": "[Cause]  this is a scarce resource in some regions [Relation] cause [Effect]  Church could be forced to absorb increased costs and/or shortages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Caterpillar offers a wide range of products that enhance fuel efficiency, specifically through its diesel-electric and electric drivetrains offerings. These products also help the company address carbon emissions concerns, which is increasingly a point of focus for government authorities.",
    "output": "[Cause] Caterpillar offers a wide range of products that enhance fuel efficiency, specifically through its diesel-electric and electric drivetrains offerings [Relation] enable [Effect] help the company address carbon emissions concerns, which is increasingly a point of focus for government authorities",
    "gold": "[Cause] Caterpillar offers a wide range of products that enhance fuel efficiency, specifically through its diesel-electric and electric drivetrains offerings [Relation] enable [Effect]  help the company address carbon emissions concerns, which is increasingly a point of focus for government authorities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There is an inherent risk that the cost structure increases more than expected, further changes to the supply chain are more difficult to achieve, pricing power diminishes, or that consumer spending is lower than expected and the model faces less leverage.",
    "output": "[Cause] the cost structure increases more than expected [Relation] cause [Effect] further changes to the supply chain are more difficult to achieve",
    "gold": "[Cause] the cost structure increases more than expected [Relation] cause [Effect] further changes to the supply chain are more difficult to achieve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There is an inherent risk that the cost structure increases more than expected, further changes to the supply chain are more difficult to achieve, pricing power diminishes, or that consumer spending is lower than expected and the model faces less leverage.",
    "output": "[Cause] consumer spending is lower than expected [Relation] cause [Effect] the model faces less leverage",
    "gold": "[Cause] the cost structure increases more than expected [Relation] cause [Effect] pricing power diminishes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "There is an inherent risk that the cost structure increases more than expected, further changes to the supply chain are more difficult to achieve, pricing power diminishes, or that consumer spending is lower than expected and the model faces less leverage.",
    "output": "[Cause] the cost structure increases more than expected [Relation] cause [Effect] the model faces less leverage",
    "gold": "[Cause] the cost structure increases more than expected [Relation] cause [Effect] consumer spending is lower than expected",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "There is an inherent risk that the cost structure increases more than expected, further changes to the supply chain are more difficult to achieve, pricing power diminishes, or that consumer spending is lower than expected and the model faces less leverage.",
    "output": "[Cause] the cost structure increases more than expected [Relation] cause [Effect] the model faces less leverage",
    "gold": "[Cause] the cost structure increases more than expected [Relation] cause [Effect]  the model faces less leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While these designs could be replicated to some extent by competitors, there are few peers that compete in this niche space on a global scale, which we attribute to barriers to entry related to the manufacturing scale and capacity required to generate meaningful profits.",
    "output": "[Cause] barriers to entry related to the manufacturing scale and capacity required to generate meaningful profits [Relation] cause [Effect] there are few peers that compete in this niche space on a global scale",
    "gold": "[Cause] barriers to entry related to the manufacturing scale and capacity required to generate meaningful profits [Relation] cause [Effect] there are few peers that compete in this niche space on a global scale",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, there has been a trend of consolidation in the semiconductor space, which is increasing Synopsys' reliance on fewer, larger customers.",
    "output": "[Cause] a trend of consolidation in the semiconductor space [Relation] cause [Effect] increasing Synopsys' reliance on fewer, larger customers",
    "gold": "[Cause] a trend of consolidation in the semiconductor space [Relation] cause [Effect] increasing Synopsys' reliance on fewer, larger customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, we think Accenture generates industry-leading returns on capital because of its scale, given that there are only so many blueprints and software partners that an IT-services company needs to solve enterprise problems.",
    "output": "[Cause] its scale [Relation] cause [Effect] Accenture generates industry-leading returns on capital",
    "gold": "[Cause] there are only so many blueprints and software partners that an IT-services company needs to solve enterprise problems [Relation] cause [Effect] Accenture generates industry-leading returns on capital because of its scale",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, we think Accenture generates industry-leading returns on capital because of its scale, given that there are only so many blueprints and software partners that an IT-services company needs to solve enterprise problems.",
    "output": "[Cause] there are only so many blueprints and software partners that an IT-services company needs to solve enterprise problems [Relation] cause [Effect] Accenture generates industry-leading returns on capital",
    "gold": "[Cause] its scale [Relation] cause [Effect] Accenture generates industry-leading returns on capital",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Collins Aerospace is one of the largest diversified commercial component suppliers, and we think that the segment's substantial scale and scope give it negotiating leverage with the aircraft manufacturers, as they can choose to not put in a bid on critical components of new aircraft.",
    "output": "[Cause] they can choose to not put in a bid on critical components of new aircraft [Relation] cause [Effect] the segment's substantial scale and scope give it negotiating leverage with the aircraft manufacturers",
    "gold": "[Cause] the segment's substantial scale and scope [Relation] enable [Effect] negotiating leverage with the aircraft manufacturers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we see incremental investments deleveraging against weaker travel demand in the near term, our 2024 operating margin (after investments wane and travel demand returns) is 19%. As a result of our top-line and cost forecasts, we expect operating margins stay around the high-teen level in the back half of our 10 year forecast from 9.1% in in the prepandemic year of 2019 (heavy investment year period).",
    "output": "[Cause] While we see incremental investments deleveraging against weaker travel demand in the near term, our 2024 operating margin (after investments wane and travel demand returns) is 19% [Relation] cause [Effect] operating margins stay around the high-teen level in the back half of our 10 year forecast from 9.1% in in the prepandemic year of 2019 (heavy investment year period)",
    "gold": "[Cause] While we see incremental investments deleveraging against weaker travel demand in the near term, our 2024 operating margin (after investments wane and travel demand returns) is 19% [Relation] cause [Effect] operating margins stay around the high-teen level in the back half of our 10 year forecast from 9.1% in in the prepandemic year of 2019 (heavy investment year period)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "NetApp also has colocation partners, including a strategic Equinix relationship, that provide enterprises with NetApp private storage and the ability to use hyperscale cloud resources within the same data center.",
    "output": "[Cause] NetApp also has colocation partners, including a strategic Equinix relationship [Relation] enable [Effect] provide enterprises with NetApp private storage and the ability to use hyperscale cloud resources within the same data center",
    "gold": "[Cause] NetApp also has colocation partners, including a strategic Equinix relationship [Relation] enable [Effect] provide enterprises with NetApp private storage and the ability to use hyperscale cloud resources within the same data center",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cushman &amp; Wakefield's rapid ascent derives from the combination of its continued ability to take share from competitors and several tailwinds in the commercial real estate industry.",
    "output": "[Cause] the combination of its continued ability to take share from competitors and several tailwinds in the commercial real estate industry [Relation] cause [Effect] Wakefield's rapid ascent",
    "gold": "[Cause] Wakefield's rapid ascent derives from the combination of its continued ability [Relation] cause [Effect] take share from competitors and several tailwinds in the commercial real estate industry",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We view these approaches as prudent and believe the decision to cull peripheral brands (going from 400 master brands to 200) will facilitate execution.",
    "output": "[Cause] the decision to cull peripheral brands (going from 400 master brands to 200) [Relation] enable [Effect] facilitate execution",
    "gold": "[Cause] the decision to cull peripheral brands (going from 400 master brands to 200) [Relation] cause [Effect] facilitate execution",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We view these approaches as prudent and believe the decision to cull peripheral brands (going from 400 master brands to 200) will facilitate execution.",
    "output": "[Cause] the decision to cull peripheral brands (going from 400 master brands to 200) [Relation] enable [Effect] facilitate execution",
    "gold": "[Cause] the decision to cull peripheral brands (going from 400 master brands to 200) [Relation] cause [Effect] these approaches as prudent",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Seagate has consistently driven costs down for its mass capacity HDDs by advancing to larger capacities, and we think it will continue to do so by leveraging new technologies like heat-assisted magnetic recording.",
    "output": "[Cause] advancing to larger capacities [Relation] enable [Effect] Seagate has consistently driven costs down for its mass capacity HDDs",
    "gold": "[Cause] advancing to larger capacities [Relation] cause [Effect] Seagate has consistently driven costs down for its mass capacity HDDs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With more food options becoming available online, the firm attracted more diners, creating the network effect, strengthening further with the virtuous cycle driven by an increase in diners on one side and in restaurant partners on the other.",
    "output": "[Cause] the firm attracted more diners [Relation] cause [Effect] strengthening further with the virtuous cycle driven by an increase in diners on one side and in restaurant partners on the other",
    "gold": "[Cause] an increase in diners on one side and in restaurant partners on the other [Relation] cause [Effect] strengthening further with the virtuous cycle",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In April 2021, Kimco announced a merger with Weingarten Realty to form a company with a combined $12 billion equity market capitalization, which would make it the largest shopping center REIT.",
    "output": "[Cause] Kimco announced a merger with Weingarten Realty to form a company with a combined $12 billion equity market capitalization [Relation] enable [Effect] make it the largest shopping center REIT",
    "gold": "[Cause] Kimco announced a merger with Weingarten Realty to form a company with a combined $12 billion equity market capitalization [Relation] enable [Effect] make it the largest shopping center REIT",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Missile defense programs are a decidedly complex long-cycle product, as missile defense programs essentially are predicated on shooting a high-velocity projectile with another projectile midair.",
    "output": "[Cause] missile defense programs essentially are predicated on shooting a high-velocity projectile with another projectile midair [Relation] cause [Effect] Missile defense programs are a decidedly complex long-cycle product",
    "gold": "[Cause] missile defense programs essentially are predicated on shooting a high-velocity projectile with another projectile midair [Relation] cause [Effect] Missile defense programs are a decidedly complex long-cycle product",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of these priorities related to mission-critical product functions reflected in the choice to use Catia, we think that Catia exhibits high switching costs.",
    "output": "[Cause] these priorities related to mission-critical product functions reflected in the choice to use Catia [Relation] cause [Effect] Catia exhibits high switching costs",
    "gold": "[Cause]  these priorities related to mission-critical product functions reflected in the choice to use Catia [Relation] cause [Effect] Catia exhibits high switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ultimately, though, we believe there is potential for the coronavirus crisis to restart the pricing cycle at a less attractive point, if gas prices remain low as the economy opens back up.",
    "output": "[Cause] the economy opens back up [Relation] cause [Effect] gas prices remain low",
    "gold": "[Cause]  coronavirus crisis [Relation] cause [Effect] restart the pricing cycle at a less attractive point",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Ultimately, though, we believe there is potential for the coronavirus crisis to restart the pricing cycle at a less attractive point, if gas prices remain low as the economy opens back up.",
    "output": "[Cause] gas prices remain low as the economy opens back up [Relation] cause [Effect] restart the pricing cycle at a less attractive point",
    "gold": "[Cause] economy opens back up [Relation] cause [Effect] gas prices remain low",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "By launching Android in 2007, Google positioned itself well in the faster-growing mobile ad market, maintaining its online search dominance and strengthening its network effect.",
    "output": "[Cause] launching Android in 2007 [Relation] enable [Effect] Google positioned itself well in the faster-growing mobile ad market",
    "gold": "[Cause] Google positioned itself well in the faster-growing mobile ad market [Relation] cause [Effect] maintaining its online search dominance and strengthening its network effect",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "By launching Android in 2007, Google positioned itself well in the faster-growing mobile ad market, maintaining its online search dominance and strengthening its network effect.",
    "output": "[Cause] Google positioned itself well in the faster-growing mobile ad market [Relation] enable [Effect] maintaining its online search dominance and strengthening its network effect",
    "gold": "[Cause] launching Android in 2007 [Relation] enable [Effect] Google positioned itself well in the faster-growing mobile ad market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, we believe the move away from linear TV viewership and the shift to digital media content has impaired print publication and television and radio station holdings.",
    "output": "[Cause] the move away from linear TV viewership and the shift to digital media content [Relation] cause [Effect] impaired print publication and television and radio station holdings",
    "gold": "[Cause]  the move away from linear TV viewership and the shift to digital media content [Relation] cause [Effect] impaired print publication and television and radio station holdings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Ericsson to benefit from selling services to help simplify and manage complex networks as more Internet of Things devices touch 5G networks.",
    "output": "[Cause] more Internet of Things devices touch 5G networks [Relation] cause [Effect] Ericsson to benefit from selling services to help simplify and manage complex networks",
    "gold": "[Cause] more Internet of Things devices touch 5G networks [Relation] cause [Effect] Ericsson to benefit from selling services to help simplify and manage complex networks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, to address potential petroleum product demand destruction, reduce carbon intensity and reinvest in growth, Valero has moved into renewables via its 50% ownership of Diamond Green Diesel.",
    "output": "[Cause] address potential petroleum product demand destruction, reduce carbon intensity and reinvest in growth [Relation] cause [Effect] Valero has moved into renewables via its 50% ownership of Diamond Green Diesel",
    "gold": "[Cause] address potential petroleum product demand destruction, reduce carbon intensity and reinvest in growth [Relation] enable [Effect] Valero has moved into renewables via its 50% ownership of Diamond Green Diesel",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, with 45 manufacturing facilities in operation, PMI has plenty of scope to cut fixed costs, which could help support margins for several years.",
    "output": "[Cause] PMI has plenty of scope to cut fixed costs [Relation] enable [Effect] help support margins for several years",
    "gold": "[Cause] PMI has plenty of scope to cut fixed costs [Relation] enable [Effect] help support margins for several years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because Grainger has national scale, a global reach, and a robust portfolio of products and valued-added services, it is well positioned to capitalize on this trend and take share from smaller local and regional distributors that don't have the scale to profitably service these customers.",
    "output": "[Cause] Grainger has national scale, a global reach, and a robust portfolio of products and valued-added services [Relation] enable [Effect] it is well positioned to capitalize on this trend and take share from smaller local and regional distributors that don't have the scale to profitably service these customers",
    "gold": "[Cause] Grainger has national scale, a global reach, and a robust portfolio of products and valued-added services [Relation] cause [Effect]  it is well positioned to capitalize on this trend and take share from smaller local and regional distributors that don't have the scale to profitably service these customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We like SBA's geographic diversification, but we think its strategy to use financial leverage so aggressively provides unnecessary risk and ultimately keeps it from deepening it presence in several of its developing markets, leaving too much international concentration in Brazil.",
    "output": "[Cause] its strategy to use financial leverage so aggressively [Relation] prevent [Effect] deepening it presence in several of its developing markets",
    "gold": "[Cause] unnecessary risk and ultimately keeps it from deepening it presence in several of its developing markets [Relation] enable [Effect] leaving too much international concentration in Brazil",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With Centene's concentration in government-sponsored programs, its margins are very low, creating the potential for large swings in profitability and cash flows with relatively minor adjustments in our underlying assumptions.",
    "output": "[Cause] Centene's concentration in government-sponsored programs, its margins are very low [Relation] cause [Effect] creating the potential for large swings in profitability and cash flows with relatively minor adjustments in our underlying assumptions",
    "gold": "[Cause] Centene's concentration in government-sponsored programs, its margins are very low [Relation] cause [Effect] creating the potential for large swings in profitability and cash flows with relatively minor adjustments in our underlying assumptions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In Alberta, power prices are driven by power supply/demand balance and are volatile due to the small size of the market.",
    "output": "[Cause] the small size of the market [Relation] cause [Effect] power prices are driven by power supply/demand balance and are volatile",
    "gold": "[Cause] the small size of the market [Relation] cause [Effect] power prices are driven by power supply/demand balance and are volatile",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that many of its products are used in mission-critical applications where the margin for error is slim (for instance, brake control systems used on airplanes, advanced micro-optic security features used in banknotes, and wastewater pumps), Crane's reputation for quality and reliability is a key source of competitive advantage.",
    "output": "[Cause] many of its products are used in mission-critical applications where the margin for error is slim [Relation] cause [Effect] Crane's reputation for quality and reliability is a key source of competitive advantage",
    "gold": "[Cause] many of its products are used in mission-critical applications where the margin for error is slim [Relation] cause [Effect] Crane's reputation for quality and reliability is a key source of competitive advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In February 2021, Enable announced it would merge with Energy Transfer, offering OGE more flexibility to exit its midstream investment.",
    "output": "[Cause] Enable announced it would merge with Energy Transfer [Relation] enable [Effect] OGE more flexibility to exit its midstream investment",
    "gold": "[Cause]  Enable announced it would merge with Energy Transfer [Relation] enable [Effect] OGE more flexibility to exit its midstream investment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As with most exploration and production firms, a deteriorating outlook for oil and natural gas prices would pressure the firm's profitability, reduce cash flows, and drive up financial leverage.",
    "output": "[Cause] a deteriorating outlook for oil and natural gas prices [Relation] cause [Effect] pressure the firm's profitability, reduce cash flows, and drive up financial leverage",
    "gold": "[Cause]  a deteriorating outlook for oil and natural gas prices [Relation] cause [Effect] pressure the firm's profitability, reduce cash flows, and drive up financial leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The shift in product mix toward diagnostics and life sciences will help lessen PerkinElmer's exposure to lower-growth industrial end markets and offer a better growth profile.",
    "output": "[Cause] The shift in product mix toward diagnostics and life sciences [Relation] enable [Effect] lessen PerkinElmer's exposure to lower-growth industrial end markets and offer a better growth profile",
    "gold": "[Cause] The shift in product mix toward diagnostics and life sciences [Relation] enable [Effect] lessen PerkinElmer's exposure to lower-growth industrial end markets and offer a better growth profile",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, Home Depot's focus on cross-selling products in both its DIY and its maintenance, repair, and operations channel should support stable pricing and volatility in the sales base, helping achieve further operating margin lift, with the metric reaching above 15% over the next decade.",
    "output": "[Cause] Home Depot's focus on cross-selling products in both its DIY and its maintenance, repair, and operations channel should support stable pricing and volatility in the sales base [Relation] enable [Effect] achieve further operating margin lift, with the metric reaching above 15% over the next decade",
    "gold": "[Cause] Home Depot's focus on cross-selling products in both its DIY and its maintenance, repair, and operations channel [Relation] cause [Effect] stable pricing and volatility in the sales base, helping achieve further operating margin lift",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect Coupa to report an average GAAP gross margin of 67.2% over the next five years, though this figure should grow to the low-80s both on a GAAP and non-GAAP basis as the business scales up.",
    "output": "[Cause] the business scales up [Relation] cause [Effect] this figure should grow to the low-80s both on a GAAP and non-GAAP basis",
    "gold": "[Cause]  the business scales up [Relation] cause [Effect]  this figure should grow to the low-80s both on a GAAP and non-GAAP basis",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think stepped-up pressure could manifest as supply-demand imbalances dissipate and as prices rise throughout the industry to offset pronounced commodity inflation.",
    "output": "[Cause] supply-demand imbalances dissipate and as prices rise throughout the industry to offset pronounced commodity inflation [Relation] cause [Effect] stepped-up pressure could manifest",
    "gold": "[Cause] supply-demand imbalances dissipate and as prices rise throughout the industry to offset pronounced commodity inflation [Relation] cause [Effect] stepped-up pressure could manifest",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Pioneer's ideally located acreage also supports above-average unit revenue, as oil cuts are generally strong (NGLs and natural gas only account for about 20% of wells Pioneer is currently drilling).",
    "output": "[Cause] oil cuts are generally strong [Relation] cause [Effect] Pioneer's ideally located acreage also supports above-average unit revenue",
    "gold": "[Cause] oil cuts are generally strong [Relation] cause [Effect] Pioneer's ideally located acreage also supports above-average unit revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, as many of Hain's products are natural and organic, which currently represents only about 10% of overall food and beverage sales, it is understandable that the company would not have dominant shares.",
    "output": "[Cause] many of Hain's products are natural and organic [Relation] cause [Effect] currently represents only about 10% of overall food and beverage sales",
    "gold": "[Cause] many of Hain's products are natural and organic [Relation] cause [Effect] currently represents only about 10% of overall food and beverage sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, as many of Hain's products are natural and organic, which currently represents only about 10% of overall food and beverage sales, it is understandable that the company would not have dominant shares.",
    "output": "[Cause] many of Hain's products are natural and organic [Relation] cause [Effect] the company would not have dominant shares",
    "gold": "[Cause] many of Hain's products are natural and organic | currently represents only about 10% of overall food and beverage sales [Relation] cause [Effect] the company would not have dominant shares",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These concerns have given way to existential concerns surrounding the New York City office market in light of the severity of the pandemic and broader questions surrounding remote work.",
    "output": "[Cause] the severity of the pandemic and broader questions surrounding remote work [Relation] cause [Effect] These concerns have given way to existential concerns surrounding the New York City office market",
    "gold": "[Cause] the severity of the pandemic and broader questions surrounding remote work [Relation] cause [Effect] These concerns have given way to existential concerns surrounding the New York City office market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because Marsh & McLennan generally takes a percentage of premiums as commission, it is exposed to the direction of the insurance pricing cycle.",
    "output": "[Cause] Marsh & McLennan generally takes a percentage of premiums as commission [Relation] cause [Effect] it is exposed to the direction of the insurance pricing cycle",
    "gold": "[Cause]  Marsh & McLennan generally takes a percentage of premiums as commission [Relation] enable [Effect] it is exposed to the direction of the insurance pricing cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even with the energy market and economic turbulence in 2020, Williams delivered steady performance based on its largely fee-based, long-term contracted revenues and its ability to connect areas of low-cost supply with high demand.",
    "output": "[Cause] its largely fee-based, long-term contracted revenues and its ability to connect areas of low-cost supply with high demand [Relation] enable [Effect] Williams delivered steady performance",
    "gold": "[Cause]  its largely fee-based, long-term contracted revenues and its ability to connect areas of low-cost supply with high demand [Relation] enable [Effect]  Williams delivered steady performance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, Hain management has acknowledged that brand investments have not been strategic or efficient, as investment dollars have been broadly allocated across its brand portfolio without regard for expected return on investment.",
    "output": "[Cause] investment dollars have been broadly allocated across its brand portfolio without regard for expected return on investment [Relation] cause [Effect] Hain management has acknowledged that brand investments have not been strategic or efficient",
    "gold": "[Cause] investment dollars have been broadly allocated across its brand portfolio without regard for expected return on investment [Relation] cause [Effect] Hain management has acknowledged that brand investments have not been strategic or efficient",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As European investment banking peers such as Deutsche Bank have painfully illustrated, chasing a global top-tier investment banking position can quickly turn into a downward spiral where revenue declines faster than costs while significant amounts of capital are tied up in the business.",
    "output": "[Cause] European investment banking peers such as Deutsche Bank have painfully illustrated [Relation] cause [Effect] chasing a global top-tier investment banking position can quickly turn into a downward spiral where revenue declines faster than costs while significant amounts of capital are tied up in the business",
    "gold": "[Cause] chasing a global top-tier investment banking position [Relation] enable [Effect] quickly turn into a downward spiral where revenue declines faster than costs while significant amounts of capital are tied up in the business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect Reliance's profits to remain relatively flat over our explicit forecast period as a deflationary price environment limits the potential for margin expansion.",
    "output": "[Cause] a deflationary price environment limits the potential for margin expansion [Relation] cause [Effect] Reliance's profits to remain relatively flat over our explicit forecast period",
    "gold": "[Cause] a deflationary price environment [Relation] prevent [Effect] the potential for margin expansion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect Reliance's profits to remain relatively flat over our explicit forecast period as a deflationary price environment limits the potential for margin expansion.",
    "output": "[Cause] a deflationary price environment limits the potential for margin expansion [Relation] cause [Effect] Reliance's profits to remain relatively flat over our explicit forecast period",
    "gold": "[Cause] a deflationary price environment limits the potential for margin expansion [Relation] cause [Effect] Reliance's profits to remain relatively flat over our explicit forecast period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the probability that Treehouse would lose out entirely on a major customer (like Walmart) is low, as its scale should allow it to be competitive along all major decision vectors (price, product quality, service quality).",
    "output": "[Cause] its scale should allow it to be competitive along all major decision vectors (price, product quality, service quality) [Relation] cause [Effect] the probability that Treehouse would lose out entirely on a major customer (like Walmart) is low",
    "gold": "[Cause] its scale should allow it to be competitive along all major decision vectors (price, product quality, service quality) [Relation] cause [Effect] the probability that Treehouse would lose out entirely on a major customer (like Walmart) is low",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given GTT's head start, it's conceivable that GTT's existing customer base and customer relationships provide it an intangible asset advantage that would result in a headwind for upstarts.",
    "output": "[Cause] GTT's existing customer base and customer relationships provide it an intangible asset advantage [Relation] cause [Effect] a headwind for upstarts",
    "gold": "[Cause] GTT's existing customer base and customer relationships provide it an intangible asset advantage [Relation] enable [Effect] GTT's head start",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the firm will maintain its place near the top of the distributor pile due to its significant cost advantage over other broadline distributors, who may attempt to add their own value-added services, and suppliers, who may consider bringing such services in-house.",
    "output": "[Cause] its significant cost advantage over other broadline distributors, who may attempt to add their own value-added services, and suppliers, who may consider bringing such services in-house [Relation] cause [Effect] the firm will maintain its place near the top of the distributor pile",
    "gold": "[Cause]  its significant cost advantage over other broadline distributors, who may attempt to add their own value-added services, and suppliers, who may consider bringing such services in-house [Relation] enable [Effect]  the firm will maintain its place near the top of the distributor pile",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With unrivalled scale, prodigious procurement strength, a strong brand, and a growing e-commerce platform, we believe Walmart is the only American retailer that can compete comprehensively with Amazon's retail offering.",
    "output": "[Cause] unrivalled scale, prodigious procurement strength, a strong brand, and a growing e-commerce platform [Relation] enable [Effect] Walmart is the only American retailer that can compete comprehensively with Amazon's retail offering",
    "gold": "[Cause] unrivalled scale, prodigious procurement strength, a strong brand, and a growing e-commerce platform [Relation] cause [Effect] Walmart is the only American retailer that can compete comprehensively with Amazon's retail offering",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With distribution, the firm has some of the broadest reach in the industry, but we don't see this manifesting in denser routes or economies of scope that could lead to a cost advantage.",
    "output": "[Cause] distribution [Relation] enable [Effect] the firm has some of the broadest reach in the industry",
    "gold": "[Cause] With distribution, the firm has some of the broadest reach in the industry [Relation] cause [Effect] a cost advantage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The bank is exposed to the economic cycle as its profitability is affected by changes in credit quality, interest rates, and consumer spending.",
    "output": "[Cause] its profitability is affected by changes in credit quality, interest rates, and consumer spending [Relation] cause [Effect] The bank is exposed to the economic cycle",
    "gold": "[Cause]  its profitability is affected by changes in credit quality, interest rates, and consumer spending [Relation] cause [Effect] The bank is exposed to the economic cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "During the pandemic, Simply Good Foods' portfolio of on-the-go bars and shakes (collectively about 70% of sales) experienced headwinds, as consumers spent more time at home.",
    "output": "[Cause] consumers spent more time at home [Relation] cause [Effect] Simply Good Foods' portfolio of on-the-go bars and shakes (collectively about 70% of sales) experienced headwinds",
    "gold": "[Cause] pandemic | consumers spent more time at home [Relation] prevent [Effect] Simply Good Foods' portfolio of on-the-go bars and shakes (collectively about 70% of sales) experienced headwinds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nevertheless, gross margin improvement should come to fruition through input cost relief (particularly as more agave plant is harvested), positive mix shifts, and greater efficiency in its supply chain, for example at its cooperages, where modernization and automation should facilitate more productivity.",
    "output": "[Cause] input cost relief (particularly as more agave plant is harvested), positive mix shifts, and greater efficiency in its supply chain [Relation] enable [Effect] gross margin improvement should come to fruition",
    "gold": "[Cause] input cost relief (particularly as more agave plant is harvested), positive mix shifts, and greater efficiency in its supply chain [Relation] cause [Effect] gross margin improvement should come to fruition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nevertheless, gross margin improvement should come to fruition through input cost relief (particularly as more agave plant is harvested), positive mix shifts, and greater efficiency in its supply chain, for example at its cooperages, where modernization and automation should facilitate more productivity.",
    "output": "[Cause] modernization and automation [Relation] enable [Effect] facilitate more productivity",
    "gold": "[Cause] modernization and automation should facilitate more productivity [Relation] cause [Effect] gross margin improvement should come to fruition",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As evidenced by solid ROICs (at 18%, including goodwill, in 2020), Polaris still has topnotch brand goodwill in its segments, supporting consumer interest and indicating the firm's brand intangible asset is intact.",
    "output": "[Cause] Polaris still has topnotch brand goodwill in its segments [Relation] enable [Effect] consumer interest and indicating the firm's brand intangible asset is intact",
    "gold": "[Cause] Polaris still has topnotch brand goodwill in its segments [Relation] enable [Effect] consumer interest and indicating the firm's brand intangible asset is intact",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The pandemic has masked the benefit of smartphone adoptions, as these wireless markets remain primarily prepaid, with bills based on usage.",
    "output": "[Cause] these wireless markets remain primarily prepaid, with bills based on usage [Relation] cause [Effect] The pandemic has masked the benefit of smartphone adoptions",
    "gold": "[Cause]  these wireless markets remain primarily prepaid, with bills based on usage [Relation] cause [Effect] The pandemic has masked the benefit of smartphone adoptions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Incremental innovation as with this injection molding process saves ITW massive amounts of R&amp;D it would otherwise have to spend to stay competitive.",
    "output": "[Cause] Incremental innovation as with this injection molding process [Relation] enable [Effect] ITW massive amounts of R&amp;D it would otherwise have to spend to stay competitive",
    "gold": "[Cause] Incremental innovation [Relation] enable [Effect] saves ITW massive amounts of R&amp",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Living arrangements have tended toward more generations under one roof, which has been driven by ethnic shifts that are forecast to continue.",
    "output": "[Cause] driven by ethnic shifts that are forecast to continue [Relation] cause [Effect] Living arrangements have tended toward more generations under one roof",
    "gold": "[Cause] Living arrangements have tended toward more generations under one roof [Relation] enable [Effect] driven by ethnic shifts that are forecast to continue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Repair and remodel spending is more resilient than new construction but still moves in the direction of the broader economy, and a downturn would likely weaken the company's financial performance.",
    "output": "[Cause] Repair and remodel spending is more resilient than new construction but still moves in the direction of the broader economy [Relation] cause [Effect] a downturn would likely weaken the company's financial performance",
    "gold": "[Cause]  a downturn [Relation] cause [Effect] weaken the company's financial performance",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the high fixed costs in this capital-intensive industry (we estimate 30% to 35% of costs are fixed), scale benefits are meaningful.",
    "output": "[Cause] the high fixed costs in this capital-intensive industry [Relation] cause [Effect] scale benefits are meaningful",
    "gold": "[Cause] the high fixed costs in this capital-intensive industry [Relation] cause [Effect] scale benefits are meaningful",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This scalability leads to efficient operations that are also not capital-intensive, leading to returns on equity in the 20s for the segment.",
    "output": "[Cause] This scalability [Relation] cause [Effect] efficient operations that are also not capital-intensive",
    "gold": "[Cause] This scalability [Relation] cause [Effect] efficient operations that are also not capital-intensive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This scalability leads to efficient operations that are also not capital-intensive, leading to returns on equity in the 20s for the segment.",
    "output": "[Cause] efficient operations that are also not capital-intensive [Relation] cause [Effect] returns on equity in the 20s for the segment",
    "gold": "[Cause] efficient operations that are also not capital-intensive [Relation] cause [Effect] returns on equity in the 20s for the segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Volume/mix should be the most noteworthy revenue driver, and from a segment perspective, we expect snacking/beverages to outperform (2% growth on average), as secularly advantaged categories (like functional beverages and organic/clean-label snacks) support positive mix.",
    "output": "[Cause] secularly advantaged categories (like functional beverages and organic/clean-label snacks) support positive mix [Relation] cause [Effect] snacking/beverages to outperform (2% growth on average)",
    "gold": "[Cause] secularly advantaged categories (like functional beverages and organic/clean-label snacks) support positive mix [Relation] cause [Effect] snacking/beverages to outperform (2% growth on average)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the growth we see from growing mass gambling and nongaming activity, we project Macao EBITDA margins to remain fairly steady at 27% in 2030 from 25% in 2019, despite higher expected license-renewal fees beginning in 2022.",
    "output": "[Cause] the growth we see from growing mass gambling and nongaming activity [Relation] cause [Effect] Macao EBITDA margins to remain fairly steady at 27% in 2030 from 25% in 2019",
    "gold": "[Cause]  the growth we see from growing mass gambling and nongaming activity [Relation] cause [Effect] Macao EBITDA margins to remain fairly steady at 27% in 2030 from 25% in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Shippers are increasing their focus on service quality as demand for greater supply chain velocity is rising, due in part to the e-commerce shift.",
    "output": "[Cause] demand for greater supply chain velocity is rising [Relation] cause [Effect] Shippers are increasing their focus on service quality",
    "gold": "[Cause] the e-commerce shift [Relation] enable [Effect] Shippers are increasing their focus on service quality as demand for greater supply chain velocity is rising",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "TIM is building fixed-line infrastructure, but it has only reached about 6.4 million households, less than 10% of the country, and it remains a very small player in this market.",
    "output": "[Cause] it has only reached about 6.4 million households, less than 10% of the country [Relation] cause [Effect] it remains a very small player in this market",
    "gold": "[Cause] it has only reached about 6.4 million households, less than 10% of the country [Relation] cause [Effect] it remains a very small player in this market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the explicit switching costs for managed assets do not seem large, inertia and the uncertainty of achieving better results tend to keep investor money in the same funds for long periods.",
    "output": "[Cause] inertia and the uncertainty of achieving better results [Relation] enable [Effect] investor money in the same funds for long periods",
    "gold": "[Cause] inertia and the uncertainty of achieving better results [Relation] cause [Effect]  investor money in the same funds for long periods",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, there are questions about the market potential of these drugs given their high cost and subcutaneous dosing in the context of convenient, effective, and inexpensive oral cholesterol-lowering drugs like statins being the mainstays of treatment.",
    "output": "[Cause] their high cost and subcutaneous dosing in the context of convenient, effective, and inexpensive oral cholesterol-lowering drugs like statins being the mainstays of treatment [Relation] cause [Effect] there are questions about the market potential of these drugs",
    "gold": "[Cause]  their high cost and subcutaneous dosing in the context of convenient, effective, and inexpensive oral cholesterol-lowering drugs like statins being the mainstays of treatment [Relation] cause [Effect] there are questions about the market potential of these drugs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While defense is tied to elevated defense budgets in the near term, ITT is well positioned in the commercial aerospace recovery.",
    "output": "[Cause] defense is tied to elevated defense budgets in the near term [Relation] cause [Effect] ITT is well positioned in the commercial aerospace recovery",
    "gold": "[Cause] defense is tied to elevated defense budgets in the near term [Relation] cause [Effect] ITT is well positioned in the commercial aerospace recovery",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Recent divestments of low-margin/no-moat businesses that historically formed part of the mining division should raise the segment's profitability closer in line with its most direct competitor, Epiroc. This has helped contribute to Sandvik's current return on invested capital of 20%, well above its weighted average cost of capital of 8.9%.",
    "output": "[Cause] Recent divestments of low-margin/no-moat businesses that historically formed part of the mining division should raise the segment's profitability closer in line with its most direct competitor, Epiroc [Relation] enable [Effect] Sandvik's current return on invested capital of 20%, well above its weighted average cost of capital of 8.9%",
    "gold": "[Cause] Recent divestments of low-margin/no-moat businesses that historically formed part of the mining division should raise the segment's profitability closer in line with its most direct competitor, Epiroc [Relation] enable [Effect] Sandvik's current return on invested capital of 20%, well above its weighted average cost of capital of 8.9%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the government hasn't ceased intervention, revisions to domestic product pricing will ensure closer tracking of international prices and avoid the large losses of the past, when government-controlled prices meant Petrobras subsidized the domestic market when oil prices were high.",
    "output": "[Cause] revisions to domestic product pricing [Relation] enable [Effect] closer tracking of international prices and avoid the large losses of the past",
    "gold": "[Cause]  revisions to domestic product pricing [Relation] cause [Effect] closer tracking of international prices and avoid the large losses of the past",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think PayPal will remain a preferred partner in the online world, given the relative convenience and security of its platform, but its market position is not so strong that the company can dictate terms to other players or gobble up increasing amounts of market share.",
    "output": "[Cause] its market position is not so strong [Relation] prevent [Effect] the company can dictate terms to other players or gobble up increasing amounts of market share",
    "gold": "[Cause] its market position is not so strong [Relation] prevent [Effect] the company can dictate terms to other players or gobble up increasing amounts of market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's products are highly engineered, requiring the company to attract and retain highly skilled human capital with expertise in software and various engineering disciplines.",
    "output": "[Cause] The firm's products are highly engineered [Relation] cause [Effect] requiring the company to attract and retain highly skilled human capital with expertise in software and various engineering disciplines",
    "gold": "[Cause] The firm's products are highly engineered [Relation] enable [Effect] requiring the company to attract and retain highly skilled human capital with expertise in software and various engineering disciplines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, the company's shift to a capital-light strategy should offer structurally lower capital and operating expenditures than in the past, supporting profit growth while allowing for investment in product innovation.",
    "output": "[Cause] the company's shift to a capital-light strategy [Relation] enable [Effect] structurally lower capital and operating expenditures than in the past",
    "gold": "[Cause] the company's shift to a capital-light strategy [Relation] enable [Effect] structurally lower capital and operating expenditures than in the past",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, the company's shift to a capital-light strategy should offer structurally lower capital and operating expenditures than in the past, supporting profit growth while allowing for investment in product innovation.",
    "output": "[Cause] the company's shift to a capital-light strategy [Relation] enable [Effect] investment in product innovation",
    "gold": "[Cause] the company's shift to a capital-light strategy [Relation] enable [Effect] profit growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We continue to expect depressed surgical valve replacement procedures in 2020 as hospitals stretch to accommodate pandemic patients, but have seen that severely afflicted heart patients are among the earlier patients to return for treatment as hospitals reschedule non-COVID-19 cases.",
    "output": "[Cause] hospitals stretch to accommodate pandemic patients [Relation] cause [Effect] depressed surgical valve replacement procedures in 2020",
    "gold": "[Cause] hospitals stretch to accommodate pandemic patients [Relation] cause [Effect] depressed surgical valve replacement procedures in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With over half of its sales into the transportation market--specifically with 42% of revenue coming from auto--TE's revenue and profits can be vulnerable to fluctuations and cycles in global automotive production.",
    "output": "[Cause] over half of its sales into the transportation market--specifically with 42% of revenue coming from auto [Relation] cause [Effect] TE's revenue and profits can be vulnerable to fluctuations and cycles in global automotive production",
    "gold": "[Cause] over half of its sales into the transportation market--specifically with 42% of revenue coming from auto [Relation] cause [Effect] TE's revenue and profits can be vulnerable to fluctuations and cycles in global automotive production",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Royal's ability to reach its 20/20 Vision goal for double-digit EPS by 2020 has dissolved as a result of COVID-19, the 20>25 by 2025 target (EPS to $20 by 2025) is also now virtually impossible to reach as a result of secular changes in demand due to COVID-19.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] Royal's ability to reach its 20/20 Vision goal for double-digit EPS by 2020 has dissolved",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] Royal's ability to reach its 20/20 Vision goal for double-digit EPS by 2020 has dissolved",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Royal's ability to reach its 20/20 Vision goal for double-digit EPS by 2020 has dissolved as a result of COVID-19, the 20>25 by 2025 target (EPS to $20 by 2025) is also now virtually impossible to reach as a result of secular changes in demand due to COVID-19.",
    "output": "[Cause] secular changes in demand [Relation] cause [Effect] the 20>25 by 2025 target (EPS to $20 by 2025) is also now virtually impossible to reach",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] secular changes in demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While Royal's ability to reach its 20/20 Vision goal for double-digit EPS by 2020 has dissolved as a result of COVID-19, the 20>25 by 2025 target (EPS to $20 by 2025) is also now virtually impossible to reach as a result of secular changes in demand due to COVID-19.",
    "output": "[Cause] secular changes in demand [Relation] cause [Effect] the 20>25 by 2025 target (EPS to $20 by 2025) is also now virtually impossible to reach",
    "gold": "[Cause] secular changes in demand [Relation] cause [Effect] the 20>25 by 2025 target (EPS to $20 by 2025) is also now virtually impossible to reach",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Onpattro showed signs of efficacy in cardiomyopathy in earlier phase 3 trials but did not get approval, as the study was powered for polyneuropathy.",
    "output": "[Cause] the study was powered for polyneuropathy [Relation] cause [Effect] Onpattro showed signs of efficacy in cardiomyopathy in earlier phase 3 trials but did not get approval",
    "gold": "[Cause]  the study was powered for polyneuropathy [Relation] cause [Effect] Onpattro showed signs of efficacy in cardiomyopathy in earlier phase 3 trials but did not get approval",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we expect margin trends to inflect over the medium term as investments wind down and Alibaba's more nascent businesses scale, bringing our fiscal 2030 adjusted EBITDA margin estimates back to the mid-30s.",
    "output": "[Cause] investments wind down and Alibaba's more nascent businesses scale [Relation] cause [Effect] margin trends to inflect over the medium term",
    "gold": "[Cause]  investments wind down and Alibaba's more nascent businesses scale [Relation] cause [Effect] margin trends to inflect over the medium term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With strong brand awareness, consistent customer experience, convenient restaurant locations, and a uniform value-priced menu balancing core menu items with locally relevant options, McDonald's is among the few restaurant chains to enjoy success globally.",
    "output": "[Cause] strong brand awareness, consistent customer experience, convenient restaurant locations, and a uniform value-priced menu balancing core menu items with locally relevant options [Relation] enable [Effect] McDonald's is among the few restaurant chains to enjoy success globally",
    "gold": "[Cause] strong brand awareness, consistent customer experience, convenient restaurant locations, and a uniform value-priced menu balancing core menu items with locally relevant options [Relation] enable [Effect] McDonald's is among the few restaurant chains to enjoy success globally",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project the bank's net interest margins will contract in the near term because of rate cuts but will partially recover over the longer term as interest rates eventually normalize through the cycle.",
    "output": "[Cause] rate cuts [Relation] cause [Effect] the bank's net interest margins will contract in the near term",
    "gold": "[Cause] rate cuts [Relation] cause [Effect] the bank's net interest margins will contract in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project the bank's net interest margins will contract in the near term because of rate cuts but will partially recover over the longer term as interest rates eventually normalize through the cycle.",
    "output": "[Cause] interest rates eventually normalize through the cycle [Relation] cause [Effect] will partially recover over the longer term",
    "gold": "[Cause] interest rates eventually normalize through the cycle [Relation] cause [Effect] will partially recover over the longer term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Such Internet of Things offerings are beneficial for end users as iConn allows Ingersoll-Rand to perform predictive analytics and ensure that the equipment is adequately serviced when necessary, which helps prevent disruptions in the customer's operations.",
    "output": "[Cause] iConn allows Ingersoll-Rand to perform predictive analytics and ensure that the equipment is adequately serviced when necessary [Relation] enable [Effect] Such Internet of Things offerings are beneficial for end users",
    "gold": "[Cause] iConn allows Ingersoll-Rand to perform predictive analytics and ensure that the equipment is adequately serviced when necessary [Relation] cause [Effect] Such Internet of Things offerings are beneficial for end users",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Electronic Arts' size and the depth of its franchise slate allow the firm to place larger bets on new IP than many smaller midsize competitors.",
    "output": "[Cause] Electronic Arts' size and the depth of its franchise slate [Relation] enable [Effect] the firm to place larger bets on new IP than many smaller midsize competitors",
    "gold": "[Cause] Electronic Arts' size and the depth of its franchise slate [Relation] enable [Effect] the firm to place larger bets on new IP than many smaller midsize competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Many mall-based retailers have lost customers to outlet stores, e-commerce, and discounters, and we think the COVID-19 crisis is accelerating this trend.",
    "output": "[Cause] the COVID-19 crisis [Relation] cause [Effect] accelerating this trend",
    "gold": "[Cause]  the COVID-19 crisis [Relation] cause [Effect] Many mall-based retailers have lost customers to outlet stores, e-commerce, and discounters",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Rolling Sky into the Comcast family promises to further enhance this content position, helping Sky cement its position with customers even as distribution methods change.",
    "output": "[Cause] Rolling Sky into the Comcast family promises to further enhance this content position [Relation] enable [Effect] helping Sky cement its position with customers even as distribution methods change",
    "gold": "[Cause] Rolling Sky into the Comcast family promises to further enhance this content position [Relation] enable [Effect] helping Sky cement its position with customers even as distribution methods change",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Movie studios help spread the Imax brand by placing the company's logos into the marketing for their high-profile blockbusters, as consumers have demonstrated a willingness to pay higher ticket prices for the Imax experience.",
    "output": "[Cause] consumers have demonstrated a willingness to pay higher ticket prices for the Imax experience [Relation] cause [Effect] Movie studios help spread the Imax brand by placing the company's logos into the marketing for their high-profile blockbusters",
    "gold": "[Cause] consumers have demonstrated a willingness to pay higher ticket prices for the Imax experience [Relation] cause [Effect] Movie studios help spread the Imax brand by placing the company's logos into the marketing for their high-profile blockbusters",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given our assumption that COVID-19 restrictions will be temporary, we do not expect a significant impact on our fair value estimate.",
    "output": "[Cause] our assumption that COVID-19 restrictions will be temporary [Relation] cause [Effect] we do not expect a significant impact on our fair value estimate",
    "gold": "[Cause] our assumption that COVID-19 restrictions will be temporary [Relation] cause [Effect] we do not expect a significant impact on our fair value estimate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Splunk's products become increasingly integrated in mission-critical business functions, it becomes more difficult for customers to uproot its software and move to a new vendor, enhancing switching costs.",
    "output": "[Cause] Splunk's products become increasingly integrated in mission-critical business functions [Relation] cause [Effect] it becomes more difficult for customers to uproot its software and move to a new vendor",
    "gold": "[Cause] Splunk's products become increasingly integrated in mission-critical business functions [Relation] cause [Effect]  it becomes more difficult for customers to uproot its software and move to a new vendor",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Splunk's products become increasingly integrated in mission-critical business functions, it becomes more difficult for customers to uproot its software and move to a new vendor, enhancing switching costs.",
    "output": "[Cause] Splunk's products become increasingly integrated in mission-critical business functions [Relation] cause [Effect] it becomes more difficult for customers to uproot its software and move to a new vendor, enhancing switching costs",
    "gold": "[Cause]  it becomes more difficult for customers to uproot its software and move to a new vendor [Relation] cause [Effect] enhancing switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Historically, Fastenal's store and vending count has exhibited a very strong correlation with the company's sales; however, we think the on-site count will become an increasingly important factor as that business model gains prominence.",
    "output": "[Cause] Fastenal's store and vending count has exhibited a very strong correlation with the company's sales [Relation] cause [Effect] the on-site count will become an increasingly important factor as that business model gains prominence",
    "gold": "[Cause] the on-site count [Relation] enable [Effect] an increasingly important factor",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nonetheless, comparable store sales strength pushes unit volumes higher, permitting Domino's to reach its 2025 goal of $25 billion in global system sales.",
    "output": "[Cause] comparable store sales strength [Relation] enable [Effect] unit volumes higher",
    "gold": "[Cause] comparable store sales strength [Relation] cause [Effect] unit volumes higher",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nonetheless, comparable store sales strength pushes unit volumes higher, permitting Domino's to reach its 2025 goal of $25 billion in global system sales.",
    "output": "[Cause] comparable store sales strength [Relation] enable [Effect] unit volumes higher",
    "gold": "[Cause] unit volumes higher [Relation] cause [Effect] permitting Domino's to reach its 2025 goal of $25 billion in global system sales",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast total annual room growth of 3.8% for 2021-30 (essentially unchanged), driven by high-single-digit unit growth in China, a low-single-digit lift in Europe, Middle East, and Africa, and Asia, and low-single-digit growth in the Americas, supported by a pipeline that represents 31% of the company's existing room base.",
    "output": "[Cause] a pipeline that represents 31% of the company's existing room base [Relation] cause [Effect] low-single-digit growth in the Americas",
    "gold": "[Cause] a pipeline that represents 31% of the company's existing room base [Relation] cause [Effect] We forecast total annual room growth of 3.8% for 2021-30 (essentially unchanged)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With most lacking efficient water or rail alternatives, markets tend to be extremely localized, with high barriers to entry for imports from outside markets.",
    "output": "[Cause] most lacking efficient water or rail alternatives [Relation] cause [Effect] markets tend to be extremely localized",
    "gold": "[Cause] most lacking efficient water or rail alternatives [Relation] cause [Effect] markets tend to be extremely localized",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With most lacking efficient water or rail alternatives, markets tend to be extremely localized, with high barriers to entry for imports from outside markets.",
    "output": "[Cause] markets tend to be extremely localized [Relation] cause [Effect] high barriers to entry for imports from outside markets",
    "gold": "[Cause] markets tend to be extremely localized [Relation] cause [Effect]  high barriers to entry for imports from outside markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "NAND flash products are electrically rewritable, nonvolatile memory that retains content when power is turned off. This characteristic makes NAND ideal for mass-storage uses, specifically for solid-state drives, which have begun to displace traditional hard disk drives.",
    "output": "[Cause] NAND flash products are electrically rewritable, nonvolatile memory that retains content when power is turned off [Relation] enable [Effect] NAND ideal for mass-storage uses, specifically for solid-state drives, which have begun to displace traditional hard disk drives",
    "gold": "[Cause] NAND flash products are electrically rewritable, nonvolatile memory that retains content when power is turned off [Relation] enable [Effect] NAND ideal for mass-storage uses, specifically for solid-state drives, which have begun to displace traditional hard disk drives",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Pepsi's broader portfolio and integrated business model yield material marketing and distribution synergies, in aggregate, the business still has less leverage and an inferior cost structure relative to Coke.",
    "output": "[Cause] Pepsi's broader portfolio and integrated business model yield material marketing and distribution synergies [Relation] cause [Effect] the business still has less leverage and an inferior cost structure relative to Coke",
    "gold": "[Cause] Pepsi's broader portfolio and integrated business model yield material marketing and distribution synergies [Relation] enable [Effect] the business still has less leverage and an inferior cost structure relative to Coke",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even if prices don't rise materially as a result of the merger, an industry with three rather than four major players should operate more efficiently as customers stick with their carriers longer, all else equal.",
    "output": "[Cause] the merger [Relation] cause [Effect] prices don't rise materially",
    "gold": "[Cause]  the merger [Relation] cause [Effect] prices don't rise materially",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even if prices don't rise materially as a result of the merger, an industry with three rather than four major players should operate more efficiently as customers stick with their carriers longer, all else equal.",
    "output": "[Cause] customers stick with their carriers longer [Relation] cause [Effect] an industry with three rather than four major players should operate more efficiently",
    "gold": "[Cause]  customers stick with their carriers longer [Relation] cause [Effect] an industry with three rather than four major players should operate more efficiently",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, increased competition has lowered cap rates and rising interest rates could squeeze the company's spread and its ability to create value.",
    "output": "[Cause] increased competition has lowered cap rates and rising interest rates [Relation] cause [Effect] squeeze the company's spread and its ability to create value",
    "gold": "[Cause] increased competition has lowered cap rates and rising interest rates [Relation] enable [Effect] squeeze the company's spread and its ability to create value",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With most quarries lacking efficient water or rail alternatives, markets tend to be highly localized and face minimal threats from distant competition.",
    "output": "[Cause] most quarries lacking efficient water or rail alternatives [Relation] cause [Effect] markets tend to be highly localized and face minimal threats from distant competition",
    "gold": "[Cause] most quarries lacking efficient water or rail alternatives [Relation] cause [Effect] markets tend to be highly localized and face minimal threats from distant competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Recurring revenue has been steadily increasing as NICE transitions more and more customers to the cloud, and this supports a steady, visible revenue stream.",
    "output": "[Cause] Recurring revenue has been steadily increasing [Relation] enable [Effect] supports a steady, visible revenue stream",
    "gold": "[Cause] NICE transitions more and more customers to the cloud [Relation] cause [Effect] Recurring revenue has been steadily increasing",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Recurring revenue has been steadily increasing as NICE transitions more and more customers to the cloud, and this supports a steady, visible revenue stream.",
    "output": "[Cause] Recurring revenue has been steadily increasing [Relation] enable [Effect] supports a steady, visible revenue stream",
    "gold": "[Cause] Recurring revenue has been steadily increasing [Relation] enable [Effect] supports a steady, visible revenue stream",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think both divestments make sense from a strategic perspective, as they will help Ingersoll-Rand simplify its portfolio and allow it to focus on its core business.",
    "output": "[Cause] they will help Ingersoll-Rand simplify its portfolio and allow it to focus on its core business [Relation] cause [Effect] We think both divestments make sense from a strategic perspective",
    "gold": "[Cause] they will help Ingersoll-Rand simplify its portfolio and allow it to focus on its core business [Relation] cause [Effect] We think both divestments make sense from a strategic perspective",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's growth is dependent on ongoing capital investments in the markets in which it operates and has been a beneficiary of the healthy macroeconomic environment over the past few years.",
    "output": "[Cause] The firm's growth is dependent on ongoing capital investments in the markets in which it operates [Relation] enable [Effect] has been a beneficiary of the healthy macroeconomic environment over the past few years",
    "gold": "[Cause] the healthy macroeconomic environment over the past few years [Relation] enable [Effect] The firm's growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This integrated MRO shop makes it much easier for Heico to place these parts with airlines and allows Heico to sell its product.",
    "output": "[Cause] This integrated MRO shop [Relation] enable [Effect] place these parts with airlines",
    "gold": "[Cause] This integrated MRO shop [Relation] enable [Effect] place these parts with airlines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This integrated MRO shop makes it much easier for Heico to place these parts with airlines and allows Heico to sell its product.",
    "output": "[Cause] This integrated MRO shop [Relation] enable [Effect] Heico to place these parts with airlines",
    "gold": "[Cause] This integrated MRO shop [Relation] enable [Effect] sell its product",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We assume higher investment in research and development as a percentage of net revenue, as we see Criteo having to consistently design, test, and implement new methods to gain access to user behavior data on the Safari browser, and Chrome.",
    "output": "[Cause] Criteo having to consistently design, test, and implement new methods to gain access to user behavior data on the Safari browser, and Chrome [Relation] cause [Effect] higher investment in research and development as a percentage of net revenue",
    "gold": "[Cause] Criteo having to consistently design, test, and implement new methods to gain access to user behavior data on the Safari browser, and Chrome [Relation] cause [Effect] higher investment in research and development as a percentage of net revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Thermo Fisher largely benefited directly from the pandemic, it could still feel the pinch of the prolonged economic downturn, particularly as testing revenue declines.",
    "output": "[Cause] testing revenue declines [Relation] cause [Effect] feel the pinch of the prolonged economic downturn",
    "gold": "[Cause] Thermo Fisher largely benefited directly from the pandemic [Relation] cause [Effect] feel the pinch of the prolonged economic downturn",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm's exposure to pressure pumping offers opportunity for revenue growth, as shale gas producers are expected to grow at least through 2022.",
    "output": "[Cause] shale gas producers are expected to grow at least through 2022 [Relation] cause [Effect] The firm's exposure to pressure pumping offers opportunity for revenue growth",
    "gold": "[Cause]  shale gas producers are expected to grow at least through 2022 [Relation] enable [Effect] The firm's exposure to pressure pumping offers opportunity for revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the other side of the equation, job seekers are attracted to AMN because it can provide a significant number of premium positions and quick placement over its peers because of its preferred provider status.",
    "output": "[Cause] its preferred provider status [Relation] cause [Effect] it can provide a significant number of premium positions and quick placement over its peers",
    "gold": "[Cause]  it can provide a significant number of premium positions and quick placement over its peers [Relation] cause [Effect] job seekers are attracted to AMN",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "On the other side of the equation, job seekers are attracted to AMN because it can provide a significant number of premium positions and quick placement over its peers because of its preferred provider status.",
    "output": "[Cause] its preferred provider status [Relation] cause [Effect] it can provide a significant number of premium positions and quick placement over its peers",
    "gold": "[Cause]  its preferred provider status [Relation] cause [Effect]  it can provide a significant number of premium positions and quick placement over its peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Movil's performance in Brazil has been disappointing in recent years as the economy has struggled, but we believe this market presents significant upside.",
    "output": "[Cause] the economy has struggled [Relation] cause [Effect] Movil's performance in Brazil has been disappointing in recent years",
    "gold": "[Cause] the economy has struggled [Relation] cause [Effect] Movil's performance in Brazil has been disappointing in recent years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the firm expands its compliance-related lineup, it is increasingly exposed to products where the cost of inaccuracy is magnified by regulatory scrutiny.",
    "output": "[Cause] the firm expands its compliance-related lineup [Relation] cause [Effect] it is increasingly exposed to products where the cost of inaccuracy is magnified by regulatory scrutiny",
    "gold": "[Cause]  the firm expands its compliance-related lineup [Relation] cause [Effect]  it is increasingly exposed to products where the cost of inaccuracy is magnified by regulatory scrutiny",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While most Fortune 500 companies continue to demand creative and effective ad campaigns, they would also like to simplify the process of campaign design and launch by reducing the number of agencies with which they work for various components of their campaigns, which may include not only ad creation and media buying but also public relations. As a result, continuing consolidation has helped the Big Five provide a complete advertising solution to various clients around the world and benefit from growing digital ad platforms such as social media, mobile, and video.",
    "output": "[Cause] While most Fortune 500 companies continue to demand creative and effective ad campaigns, they would also like to simplify the process of campaign design and launch by reducing the number of agencies with which they work for various components of their campaigns, which may include not only ad creation and media buying but also public relations [Relation] cause [Effect] continuing consolidation has helped the Big Five provide a complete advertising solution to various clients around the world and benefit from growing digital ad platforms such as social media, mobile, and video",
    "gold": "[Cause] While most Fortune 500 companies continue to demand creative and effective ad campaigns, they would also like to simplify the process of campaign design and launch by reducing the number of agencies with which they work for various components of their campaigns, which may include not only ad creation and media buying but also public relations [Relation] cause [Effect] continuing consolidation has helped the Big Five provide a complete advertising solution to various clients around the world and benefit from growing digital ad platforms such as social media, mobile, and video",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With beer consumption highly correlated to GDP growth, the greatest risk to Heineken's volume is a slowdown in the global economy.",
    "output": "[Cause] beer consumption highly correlated to GDP growth [Relation] cause [Effect] the greatest risk to Heineken's volume is a slowdown in the global economy",
    "gold": "[Cause] a slowdown in the global economy [Relation] cause [Effect] the greatest risk to Heineken's volume",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the near term we see the risk of a public option as still viable, which could influence pricing on the individual exchanges significantly.",
    "output": "[Cause] the risk of a public option as still viable [Relation] cause [Effect] influence pricing on the individual exchanges significantly",
    "gold": "[Cause] the risk of a public option as still viable [Relation] cause [Effect] influence pricing on the individual exchanges significantly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Genuine Parts (mostly via its NAPA brand) should benefit due to its infrastructure, which enables it to economically offer a vast catalog with quick delivery.",
    "output": "[Cause] its infrastructure [Relation] enable [Effect] it to economically offer a vast catalog with quick delivery",
    "gold": "[Cause]  its infrastructure, which enables it to economically offer a vast catalog with quick delivery [Relation] cause [Effect] Genuine Parts (mostly via its NAPA brand) should benefit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Properties that distinguish themselves with better amenities, better services, higher-quality finishes, larger floorplans, and other desirable features generate additional demand in any market that further support higher rents and larger occupancy/rent increases.",
    "output": "[Cause] Properties that distinguish themselves with better amenities, better services, higher-quality finishes, larger floorplans, and other desirable features generate additional demand in any market [Relation] enable [Effect] further support higher rents and larger occupancy/rent increases",
    "gold": "[Cause] Properties that distinguish themselves with better amenities, better services, higher-quality finishes, larger floorplans, and other desirable features generate additional demand in any market [Relation] cause [Effect] further support higher rents and larger occupancy/rent increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although BP has some prior experience developing solar projects through its Lightsource joint venture and recently joined Equinor to develop offshore wind, the growth holds execution as well as acquisition risks given their growth targets.",
    "output": "[Cause] their growth targets [Relation] cause [Effect] the growth holds execution as well as acquisition risks",
    "gold": "[Cause] their growth targets [Relation] cause [Effect] the growth holds execution as well as acquisition risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In Spain, its second-largest market, Orange does not benefit from cost advantages, since its customer base is smaller than the incumbent Telefonica.",
    "output": "[Cause] its customer base is smaller than the incumbent Telefonica [Relation] cause [Effect] Orange does not benefit from cost advantages",
    "gold": "[Cause]  its customer base is smaller than the incumbent Telefonica [Relation] cause [Effect] Orange does not benefit from cost advantages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the near term, Paychex's business will be challenged as small businesses lay off employees and the company realizes lower yields on cash balances.",
    "output": "[Cause] small businesses lay off employees and the company realizes lower yields on cash balances [Relation] cause [Effect] Paychex's business will be challenged",
    "gold": "[Cause] small businesses lay off employees and the company realizes lower yields on cash balances [Relation] cause [Effect] Paychex's business will be challenged",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the U.K., Virgin Media has enjoyed ligher regulatory pressure than rival BT, but this could change over time now that Virgin and O2 have merged to create a very large firm that controls a large portion of the telecom infrastructure in the country.",
    "output": "[Cause] Virgin and O2 have merged to create a very large firm that controls a large portion of the telecom infrastructure in the country [Relation] cause [Effect] In the U.K., Virgin Media has enjoyed ligher regulatory pressure than rival BT",
    "gold": "[Cause] Virgin and O2 have merged to create a very large firm that controls a large portion of the telecom infrastructure in the country [Relation] prevent [Effect] In the U.K., Virgin Media has enjoyed ligher regulatory pressure than rival BT",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With city dwellers increasingly looking to the suburbs, Five Below should find itself able to access markets that were previously prohibitively expensive as rents near downtown areas reset. Therefore, we do not believe that Five Below's current footprint indicates that choice locations in its existing markets have been exhausted by its presence, and see opportunities for selective relocations in addition to new openings.",
    "output": "[Cause] With city dwellers increasingly looking to the suburbs, Five Below should find itself able to access markets that were previously prohibitively expensive as rents near downtown areas reset [Relation] cause [Effect] we do not believe that Five Below's current footprint indicates that choice locations in its existing markets have been exhausted by its presence, and see opportunities for selective relocations in addition to new openings",
    "gold": "[Cause] With city dwellers increasingly looking to the suburbs, Five Below should find itself able to access markets that were previously prohibitively expensive as rents near downtown areas reset [Relation] cause [Effect] we do not believe that Five Below's current footprint indicates that choice locations in its existing markets have been exhausted by its presence, and see opportunities for selective relocations in addition to new openings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do not think recent growth rates are achievable in the long term as fashion trends change and Adidas' sales base has grown much larger.",
    "output": "[Cause] fashion trends change and Adidas' sales base has grown much larger [Relation] cause [Effect] We do not think recent growth rates are achievable in the long term",
    "gold": "[Cause] fashion trends change and Adidas' sales base has grown much larger [Relation] cause [Effect] We do not think recent growth rates are achievable in the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate low-double digit compound average organic sales growth over the next 10 years, outpacing our low-single-digit estimate for the firm, aided by accelerating long-term digital learning adoption as a result of the pandemic.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] accelerating long-term digital learning adoption",
    "gold": "[Cause] accelerating long-term digital learning adoption as a result of the pandemic [Relation] cause [Effect]  low-double digit compound average organic sales growth over the next 10 years, outpacing our low-single-digit estimate for the firm",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "By end market, we expect Agilent's organic growth to be led by biopharmaceuticals with 8% overall growth expected on strong biologic-related and solid growth in small molecules.",
    "output": "[Cause] strong biologic-related and solid growth in small molecules [Relation] enable [Effect] Agilent's organic growth to be led by biopharmaceuticals with 8% overall growth expected",
    "gold": "[Cause] Agilent's organic growth to be led by biopharmaceuticals [Relation] cause [Effect] 8% overall growth expected on strong biologic-related and solid growth in small molecules",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Regardless, sales and profits have been relatively steady in recent years, and the company's raw material hedging strategy and cost-plus contracts for its non-specialty core products help to reduce earnings volatility.",
    "output": "[Cause] sales and profits have been relatively steady in recent years, and the company's raw material hedging strategy and cost-plus contracts for its non-specialty core products [Relation] enable [Effect] reduce earnings volatility",
    "gold": "[Cause] sales and profits have been relatively steady in recent years, and the company's raw material hedging strategy and cost-plus contracts for its non-specialty core products [Relation] cause [Effect]  reduce earnings volatility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The high-volume commoditized nature of Manpower's job placement services prevents the firm from earning returns on invested capital comparable with other global staffers.",
    "output": "[Cause] The high-volume commoditized nature of Manpower's job placement services [Relation] prevent [Effect] the firm from earning returns on invested capital comparable with other global staffers",
    "gold": "[Cause] The high-volume commoditized nature of Manpower's job placement services [Relation] prevent [Effect] the firm from earning returns on invested capital comparable with other global staffers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Dollar Tree's assortment is limited, with roughly 7,000 stock-keeping units sold at its stores relative to around 45,000 at even Target's small-format stores, simplifying operations and allowing the company to concentrate its buying power and procurement leverage on a limited assortment.",
    "output": "[Cause] simplifying operations [Relation] enable [Effect] the company to concentrate its buying power and procurement leverage on a limited assortment",
    "gold": "[Cause] simplifying operations [Relation] enable [Effect] the company to concentrate its buying power and procurement leverage on a limited assortment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The expansion into drug classes outside of mRNA is interesting: While BioNTech is venturing outside its established area of expertise, it's also gaining talent in new areas and possibly boosting its long-term growth potential.",
    "output": "[Cause] The expansion into drug classes outside of mRNA [Relation] enable [Effect] boosting its long-term growth potential",
    "gold": "[Cause] it's also gaining talent in new areas [Relation] enable [Effect] boosting its long-term growth potential",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Parent leverage has helped produce impressive consolidated returns on equity, but investors should consider the refinancing risk if credit markets tighten.",
    "output": "[Cause] Parent leverage [Relation] enable [Effect] produced impressive consolidated returns on equity",
    "gold": "[Cause] Parent leverage [Relation] enable [Effect] helped produce impressive consolidated returns on equity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With JPMorgan's tech budget of over $10 billion per year, the bank may not drop to the lowest overall efficiency ratio among peers, but it will be able to maintain higher levels of investment at similar efficiency levels.",
    "output": "[Cause] JPMorgan's tech budget of over $10 billion per year [Relation] cause [Effect] the bank may not drop to the lowest overall efficiency ratio among peers",
    "gold": "[Cause] JPMorgan's tech budget of over $10 billion per year [Relation] cause [Effect] the bank may not drop to the lowest overall efficiency ratio among peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, prices have since softened and we forecast that they will remain lower for longer. This outlook is driven by our bearish outlook for Chinese fixed-asset investment, the persistence of structural overcapacity, and faltering cost support as steelmaking raw material prices decrease.",
    "output": "[Cause] our bearish outlook for Chinese fixed-asset investment, the persistence of structural overcapacity, and faltering cost support as steelmaking raw material prices decrease [Relation] cause [Effect] prices have since softened and we forecast that they will remain lower for longer",
    "gold": "[Cause]  our bearish outlook for Chinese fixed-asset investment, the persistence of structural overcapacity, and faltering cost support as steelmaking raw material prices decrease [Relation] enable [Effect] prices have since softened and we forecast that they will remain lower for longer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm was protected during a difficult 2020 as it has presold 95% of its capacity for the year already, and it has presold similar levels of capacity already for 2021.",
    "output": "[Cause] it has presold 95% of its capacity for the year already, and it has presold similar levels of capacity already for 2021 [Relation] cause [Effect] The firm was protected during a difficult 2020",
    "gold": "[Cause] it has presold 95% of its capacity for the year already, and it has presold similar levels of capacity already for 2021 [Relation] enable [Effect] The firm was protected during a difficult 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While retrans revenue will continue to be a growth driver, we project that national networks, like CBS, will also continue to raise their fees, decreasing the bottom-line benefit to Sinclair.",
    "output": "[Cause] national networks, like CBS, will also continue to raise their fees [Relation] cause [Effect] decreasing the bottom-line benefit to Sinclair",
    "gold": "[Cause] retrans revenue will continue to be a growth driver [Relation] cause [Effect] we project that national networks, like CBS, will also continue to raise their fees",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Hence, if a player decides to increase prices significantly, it is possible that its customers could switch to a competitor with a lower-priced, similar offering.",
    "output": "[Cause] a player decides to increase prices significantly [Relation] cause [Effect] its customers could switch to a competitor with a lower-priced, similar offering",
    "gold": "[Cause] a player decides to increase prices significantly [Relation] cause [Effect] its customers could switch to a competitor with a lower-priced, similar offering",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, while the firm has become the market leader via content acquisition, which further diversifies its revenue, we do not expect its dependency on labels to be lessened much.",
    "output": "[Cause] the firm has become the market leader via content acquisition [Relation] enable [Effect] further diversifies its revenue",
    "gold": "[Cause]  the firm has become the market leader via content acquisition [Relation] enable [Effect]  further diversifies its revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result of this consolidation, Cadence also cannot exert much pricing power as businesses avoid vendor lock-in and can switch to a different EDA vendor if prices rise too much.",
    "output": "[Cause] businesses avoid vendor lock-in and can switch to a different EDA vendor if prices rise too much [Relation] cause [Effect] Cadence also cannot exert much pricing power",
    "gold": "[Cause]  businesses avoid vendor lock-in and can switch to a different EDA vendor if prices rise too much [Relation] cause [Effect]  Cadence also cannot exert much pricing power",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ON has also made increased investments in recent years to upgrade its manufacturing capacity: shuttering smaller, less efficient plants and purchasing its first 12-inch fab from GlobalFoundries (closing in 2022).",
    "output": "[Cause] ON has also made increased investments in recent years [Relation] enable [Effect] upgrade its manufacturing capacity",
    "gold": "[Cause] upgrade its manufacturing capacity [Relation] cause [Effect] made increased investments",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "It is true that entry barriers in LTL shipping are higher than those found in the more fragmented full-truckload space, namely because of the need for a broad network of consolidation terminals, sophisticated load path planning software, and material IT capabilities.",
    "output": "[Cause] the need for a broad network of consolidation terminals, sophisticated load path planning software, and material IT capabilities [Relation] cause [Effect] entry barriers in LTL shipping are higher than those found in the more fragmented full-truckload space",
    "gold": "[Cause] the need for a broad network of consolidation terminals, sophisticated load path planning software, and material IT capabilities [Relation] cause [Effect] entry barriers in LTL shipping are higher than those found in the more fragmented full-truckload space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Another key tenet of Ferguson's scale-driven cost advantage is its blended branch model and distribution network, which allows Ferguson to cost-effectively serve its sprawling customer base that requires quick access to a large assortment of products.",
    "output": "[Cause] its blended branch model and distribution network [Relation] enable [Effect] Ferguson to cost-effectively serve its sprawling customer base",
    "gold": "[Cause]  its blended branch model and distribution network [Relation] cause [Effect]  tenet of Ferguson's scale-driven cost advantage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Another key tenet of Ferguson's scale-driven cost advantage is its blended branch model and distribution network, which allows Ferguson to cost-effectively serve its sprawling customer base that requires quick access to a large assortment of products.",
    "output": "[Cause] its blended branch model and distribution network [Relation] enable [Effect] Ferguson to cost-effectively serve its sprawling customer base",
    "gold": "[Cause]  its blended branch model and distribution network [Relation] enable [Effect]  Ferguson to cost-effectively serve its sprawling customer base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Another key tenet of Ferguson's scale-driven cost advantage is its blended branch model and distribution network, which allows Ferguson to cost-effectively serve its sprawling customer base that requires quick access to a large assortment of products.",
    "output": "[Cause] its blended branch model and distribution network [Relation] enable [Effect] Ferguson to cost-effectively serve its sprawling customer base",
    "gold": "[Cause]  Ferguson to cost-effectively serve its sprawling customer base [Relation] enable [Effect]  quick access to a large assortment of products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Banco Santander Chile is the largest bank by assets in the Chilean market. This scale has afforded the bank the second-cheapest deposit base in the country, significantly contributing to Santander Chile's impressive returns on equity in the upper teens in recent years.",
    "output": "[Cause] Banco Santander Chile is the largest bank by assets in the Chilean market [Relation] cause [Effect] afforded the bank the second-cheapest deposit base in the country, significantly contributing to Santander Chile's impressive returns on equity in the upper teens in recent years",
    "gold": "[Cause] Banco Santander Chile is the largest bank by assets in the Chilean market [Relation] cause [Effect] afforded the bank the second-cheapest deposit base in the country, significantly contributing to Santander Chile's impressive returns on equity in the upper teens in recent years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This created a positive virtuous cycle at a time when no other competitor had begun to build scale in Europe; customers joined and hoteliers joined, which drove further hotel inventory and customer traffic.",
    "output": "[Cause] customers joined and hoteliers joined [Relation] enable [Effect] further hotel inventory and customer traffic",
    "gold": "[Cause] no other competitor had begun to build scale in Europe [Relation] enable [Effect] This created a positive virtuous cycle at a time |  customers joined and hoteliers joined, which drove further hotel inventory and customer traffic.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "It is, however, highly unlikely that investments in LTE infrastructure would stop LMR growth as public safety would likely demand significant overlap, with both systems running concurrently as the LTE network became hardened to a mission-critical standard.",
    "output": "[Cause] public safety would likely demand significant overlap [Relation] cause [Effect] investments in LTE infrastructure would stop LMR growth",
    "gold": "[Cause] public safety would likely demand significant overlap [Relation] cause [Effect] investments in LTE infrastructure would stop LMR growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It is, however, highly unlikely that investments in LTE infrastructure would stop LMR growth as public safety would likely demand significant overlap, with both systems running concurrently as the LTE network became hardened to a mission-critical standard.",
    "output": "[Cause] public safety would likely demand significant overlap [Relation] cause [Effect] investments in LTE infrastructure would stop LMR growth",
    "gold": "[Cause] the LTE network became hardened to a mission-critical standard [Relation] cause [Effect] both systems running concurrently",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Despite the negative impact of the coronavirus on hotel operations in 2020, we believe that Host can produce a 15.5% revPAR CAGR over the next 10 years as the company recovers from the massive drop in operations.",
    "output": "[Cause] the company recovers from the massive drop in operations [Relation] cause [Effect] Host can produce a 15.5% revPAR CAGR over the next 10 years",
    "gold": "[Cause] the company recovers from the massive drop in operations [Relation] cause [Effect] Host can produce a 15.5% revPAR CAGR over the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Such efforts could ultimately lead to more consumers choosing one of the portfolio's brands over time as its broad marketing bandwidth offers better share of mind.",
    "output": "[Cause] its broad marketing bandwidth offers better share of mind [Relation] cause [Effect] Such efforts could ultimately lead to more consumers choosing one of the portfolio's brands over time",
    "gold": "[Cause] its broad marketing bandwidth offers better share of mind [Relation] cause [Effect] Such efforts could ultimately lead to more consumers choosing one of the portfolio's brands over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "HollyFrontier lacks the downstream infrastructure and the retail segment that many peers have. As a result, it is unable to create renewable identification numbers, or RINs, to meet the renewable fuel standard and must purchase about half of its obligation on the open market.",
    "output": "[Cause] HollyFrontier lacks the downstream infrastructure and the retail segment that many peers have [Relation] cause [Effect] it is unable to create renewable identification numbers, or RINs, to meet the renewable fuel standard and must purchase about half of its obligation on the open market",
    "gold": "[Cause] HollyFrontier lacks the downstream infrastructure and the retail segment that many peers have [Relation] cause [Effect] it is unable to create renewable identification numbers, or RINs, to meet the renewable fuel standard and must purchase about half of its obligation on the open market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After acquiring the business with Dresser in 1998, Halliburton was able to leverage its capabilities in wellbore engineering and chemistry to create successful new technologies.",
    "output": "[Cause] Halliburton was able to leverage its capabilities in wellbore engineering and chemistry [Relation] enable [Effect] create successful new technologies",
    "gold": "[Cause] Halliburton was able to leverage its capabilities in wellbore engineering and chemistry [Relation] enable [Effect] create successful new technologies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nevertheless, Reckitt has underperformed its potential in recent years, and the competitively advantaged health business was particularly disappointing in 2019, posting a modest organic sales decline, although the pandemic helped the division reach almost double-digit sales growth in 2020.",
    "output": "[Cause] Reckitt has underperformed its potential in recent years [Relation] cause [Effect] the competitively advantaged health business was particularly disappointing in 2019",
    "gold": "[Cause] Reckitt has underperformed its potential in recent years, and the competitively advantaged health business was particularly disappointing in 201 [Relation] cause [Effect] a modest organic sales decline",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nevertheless, Reckitt has underperformed its potential in recent years, and the competitively advantaged health business was particularly disappointing in 2019, posting a modest organic sales decline, although the pandemic helped the division reach almost double-digit sales growth in 2020.",
    "output": "[Cause] the pandemic [Relation] enable [Effect] the division reach almost double-digit sales growth in 2020",
    "gold": "[Cause] the pandemic [Relation] enable [Effect] the division reach almost double-digit sales growth in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Novo lost share to Lilly's once-weekly Trulicity, Ozempic's recent launch and the ongoing launch of Rybelsus in 2020 should revitalize growth and expand Novo's reach in the diabetes market.",
    "output": "[Cause] Ozempic's recent launch and the ongoing launch of Rybelsus in 2020 [Relation] enable [Effect] revitalize growth and expand Novo's reach in the diabetes market",
    "gold": "[Cause]  Novo lost share to Lilly's once-weekly Trulicity [Relation] cause [Effect] revitalize growth and expand Novo's reach in the diabetes market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We give Agilent a medium uncertainty rating thanks to its sticky end markets that should result in relatively steady demand trends, despite its dependence on one-time instrument sales that can be delayed during weak times in the general economy or in specific end markets.",
    "output": "[Cause] its sticky end markets [Relation] cause [Effect] We give Agilent a medium uncertainty rating",
    "gold": "[Cause] its sticky end markets [Relation] cause [Effect] We give Agilent a medium uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We give Agilent a medium uncertainty rating thanks to its sticky end markets that should result in relatively steady demand trends, despite its dependence on one-time instrument sales that can be delayed during weak times in the general economy or in specific end markets.",
    "output": "[Cause] its sticky end markets [Relation] cause [Effect] Agilent a medium uncertainty rating",
    "gold": "[Cause] its sticky end markets [Relation] cause [Effect]  result in relatively steady demand trends, despite its dependence on one-time instrument sales that can be delayed during weak times in the general economy or in specific end markets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The fruit extraction principle of instantaneous separation is the primary reason for superior juice quality delivered by JBT's Citrus Extractor.",
    "output": "[Cause] The fruit extraction principle of instantaneous separation [Relation] cause [Effect] superior juice quality delivered by JBT's Citrus Extractor",
    "gold": "[Cause] The fruit extraction principle of instantaneous separation [Relation] cause [Effect] superior juice quality delivered by JBT's Citrus Extractor",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Deutsche also has some levers left to pull by reducing risk-weighted assets further, while employee count reductions are likely to be postponed.",
    "output": "[Cause] reducing risk-weighted assets further [Relation] cause [Effect] Deutsche also has some levers left to pull",
    "gold": "[Cause] reducing risk-weighted assets further [Relation] enable [Effect] Deutsche also has some levers left to pull",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see medium uncertainty around Humana's future cash flows in the intermediate term, as the positive growth trajectory in the company's Medicare Advantage stronghold is clouded by some healthcare policy uncertainty.",
    "output": "[Cause] the positive growth trajectory in the company's Medicare Advantage stronghold is clouded by some healthcare policy uncertainty [Relation] cause [Effect] medium uncertainty around Humana's future cash flows in the intermediate term",
    "gold": "[Cause] the positive growth trajectory in the company's Medicare Advantage stronghold is clouded by some healthcare policy uncertainty [Relation] cause [Effect] medium uncertainty around Humana's future cash flows in the intermediate term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Broadband service is often viewed as essential for social inclusion and education, which can push legislators and regulators to target the telecom industry if service quality is deemed too low or prices too high.",
    "output": "[Cause] service quality is deemed too low or prices too high [Relation] cause [Effect] push legislators and regulators to target the telecom industry",
    "gold": "[Cause]  service quality is deemed too low or prices too high [Relation] cause [Effect] push legislators and regulators to target the telecom industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These create a benefit for established players that can be succinctly described as \"\"\"\"scarcity value.\"\"\"\"  The scarcity value is partly predicated on regulation, as many of the most popular distilled spirit variants are accompanied by strict minimum aging and locale requirements enforced by government agencies.",
    "output": "[Cause] many of the most popular distilled spirit variants are accompanied by strict minimum aging and locale requirements enforced by government agencies [Relation] cause [Effect] These create a benefit for established players that can be succinctly described as \"\"\"\"scarcity value\"\"\" The scarcity value is partly predicated on regulation",
    "gold": "[Cause] regulation [Relation] enable [Effect] The scarcity value",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Following increased growth in 2021 and 2022 as Syneos rebounds from the impact of the COVID-19 pandemic, we model mid-single-digit revenue growth and 2025 clinical solutions revenue of nearly $5.3 billion.",
    "output": "[Cause] Syneos rebounds from the impact of the COVID-19 pandemic [Relation] cause [Effect] Following increased growth in 2021 and 2022",
    "gold": "[Cause] Syneos rebounds from the impact of the COVID-19 pandemic [Relation] cause [Effect] mid-single-digit revenue growth and 2025 clinical solutions revenue of nearly $5.3 billion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This is a driven by a time value since our last update, an increase in our long-term profitability assumptions and an increase in the value of the company's investments.",
    "output": "[Cause] a time value since our last update, an increase in our long-term profitability assumptions and an increase in the value of the company's investments [Relation] cause [Effect] This",
    "gold": "[Cause] a time value since our last update, an increase in our long-term profitability assumptions and an increase in the value of the company's investments [Relation] cause [Effect] This",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The former segment is undergoing a rapid decline, as solid state drives, or SSDs, built with NAND flash take over the consumer market.",
    "output": "[Cause] solid state drives, or SSDs, built with NAND flash take over the consumer market [Relation] cause [Effect] The former segment is undergoing a rapid decline",
    "gold": "[Cause] solid state drives, or SSDs, built with NAND flash take over the consumer market [Relation] cause [Effect] The former segment is undergoing a rapid decline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, Roche's biologics focus (more than 80% of pharmaceutical sales) provides some buffer against the traditional intense declines from small-molecule generic competition.",
    "output": "[Cause] Roche's biologics focus (more than 80% of pharmaceutical sales) [Relation] enable [Effect] some buffer against the traditional intense declines from small-molecule generic competition",
    "gold": "[Cause] against the traditional intense declines from small-molecule generic competition [Relation] cause [Effect] provides some buffer",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This includes leveraging previous clinical trial data to better understand which inclusion criteria will ensure a fast enrollment with statistically significant results.",
    "output": "[Cause] leveraging previous clinical trial data [Relation] enable [Effect] better understand which inclusion criteria will ensure a fast enrollment with statistically significant results",
    "gold": "[Cause] leveraging previous clinical trial data [Relation] enable [Effect] better understand which inclusion criteria will ensure a fast enrollment with statistically significant results",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the lack of water or rail access at most quarries, more than three fourths of aggregates ship by truck.",
    "output": "[Cause] the lack of water or rail access at most quarries [Relation] cause [Effect] more than three fourths of aggregates ship by truck",
    "gold": "[Cause]  the lack of water or rail access at most quarries [Relation] cause [Effect] more than three fourths of aggregates ship by truck",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The patent protection allows the firm to price its drugs at levels that translate into superior returns on invested capital compared with its cost (particularly in cancer drugs, an area of focus for Bristol).",
    "output": "[Cause] The patent protection [Relation] enable [Effect] the firm to price its drugs at levels that translate into superior returns on invested capital compared with its cost",
    "gold": "[Cause] The patent protection [Relation] enable [Effect]  the firm to price its drugs at levels that translate into superior returns on invested capital compared with its cost",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The switching costs would specifically be due to credit card companies facing difficulties in providing their customers with rewards cardholders want.",
    "output": "[Cause] credit card companies facing difficulties in providing their customers with rewards cardholders want [Relation] cause [Effect] The switching costs",
    "gold": "[Cause] credit card companies facing difficulties in providing their customers with rewards cardholders want [Relation] cause [Effect] The switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Loyalty programs offer a more holistic picture of promotional sensitivity, can drive better engagement, and may represent an effective tool to recover lapsed customers, while raw transaction data offers fewer levers for A/B testing and generating a multifaceted picture of core customers.",
    "output": "[Cause] Loyalty programs offer a more holistic picture of promotional sensitivity [Relation] enable [Effect] better engagement",
    "gold": "[Cause] Loyalty programs offer a more holistic picture of promotional sensitivity [Relation] enable [Effect] better engagement",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Loyalty programs offer a more holistic picture of promotional sensitivity, can drive better engagement, and may represent an effective tool to recover lapsed customers, while raw transaction data offers fewer levers for A/B testing and generating a multifaceted picture of core customers.",
    "output": "[Cause] Loyalty programs offer a more holistic picture of promotional sensitivity [Relation] enable [Effect] better engagement",
    "gold": "[Cause] Loyalty programs offer a more holistic picture of promotional sensitivity [Relation] enable [Effect]  an effective tool to recover lapsed customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Therefore, we expect supply will more than offset demand for the next few years and hotel companies will have difficulty pushing rates to generate significant NOI growth.",
    "output": "[Cause] supply will more than offset demand for the next few years [Relation] cause [Effect] hotel companies will have difficulty pushing rates to generate significant NOI growth",
    "gold": "[Cause] supply will more than offset demand for the next few years [Relation] cause [Effect] hotel companies will have difficulty pushing rates to generate significant NOI growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, the large amount of debt required to fund these home purchases represents another source of risk that Zillow will have to navigate as it expands Zillow Offers.",
    "output": "[Cause] it expands Zillow Offers [Relation] cause [Effect] Zillow will have to navigate",
    "gold": "[Cause]  it expands Zillow Offers [Relation] cause [Effect] Zillow will have to navigate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the health crisis mutates into an economic one, other revenue sources could also come under siege, as pressure mounts on units such as subscription video services and property market-sensitive digital real estate services.",
    "output": "[Cause] the health crisis mutates into an economic one [Relation] cause [Effect] other revenue sources could also come under siege",
    "gold": "[Cause]  as pressure mounts on units such as subscription video services and property market-sensitive digital real estate services. [Relation] cause [Effect]  other revenue sources could also come under siege",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, Check Point could experience customer attrition and lose greenfield opportunities without the required marketing and development expenditures as enterprises start consuming more security offerings outside the on-premises network.",
    "output": "[Cause] enterprises start consuming more security offerings outside the on-premises network [Relation] cause [Effect] Check Point could experience customer attrition and lose greenfield opportunities without the required marketing and development expenditures",
    "gold": "[Cause] enterprises start consuming more security offerings outside the on-premises network [Relation] cause [Effect] Check Point could experience customer attrition and lose greenfield opportunities without the required marketing and development expenditures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "They would also likely have to run duplicate payroll and HCM solutions, given their mission criticality, increasing monetary costs as well.",
    "output": "[Cause] their mission criticality, increasing monetary costs as well [Relation] cause [Effect] They would also likely have to run duplicate payroll and HCM solutions",
    "gold": "[Cause]  their mission criticality, increasing monetary costs as well [Relation] cause [Effect] They would also likely have to run duplicate payroll and HCM solutions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, given inconsistent capital allocation practices in recent years, ROICs are unlikely to surpass our WACC (10%) over most of our forecast.",
    "output": "[Cause] inconsistent capital allocation practices in recent years [Relation] cause [Effect] ROICs are unlikely to surpass our WACC (10%) over most of our forecast",
    "gold": "[Cause] inconsistent capital allocation practices in recent years [Relation] cause [Effect]  ROICs are unlikely to surpass our WACC (10%) over most of our forecast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the long term, we forecast the growth of Adidas' direct-to-consumer business will boost its margins, which have generally trended up since 2009, and we think the improvement is permanent as the firm continues to upgrade the efficiency of its supply chain.",
    "output": "[Cause] the growth of Adidas' direct-to-consumer business [Relation] enable [Effect] boost its margins",
    "gold": "[Cause] the growth of Adidas' direct-to-consumer business [Relation] enable [Effect] boost its margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the long term, we forecast the growth of Adidas' direct-to-consumer business will boost its margins, which have generally trended up since 2009, and we think the improvement is permanent as the firm continues to upgrade the efficiency of its supply chain.",
    "output": "[Cause] the firm continues to upgrade the efficiency of its supply chain [Relation] cause [Effect] the improvement is permanent",
    "gold": "[Cause] the firm continues to upgrade the efficiency of its supply chain [Relation] cause [Effect] the improvement is permanent",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This implies 6%-7% average annual unit growth the next five years, though new store productivity should run ahead of historical norms because of the Chipotlane format.",
    "output": "[Cause] the Chipotlane format [Relation] cause [Effect] new store productivity should run ahead of historical norms",
    "gold": "[Cause] the Chipotlane format [Relation] cause [Effect] new store productivity should run ahead of historical norms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For brands such as Shake Shack, that are expanding to a national footprint, Ecolab is a preferred cleaning supplier as Ecolab can supply the same dishwashers, cleaning products, and quality to new locations across the United States.",
    "output": "[Cause] Ecolab can supply the same dishwashers, cleaning products, and quality to new locations across the United States [Relation] cause [Effect] For brands such as Shake Shack, that are expanding to a national footprint, Ecolab is a preferred cleaning supplier",
    "gold": "[Cause] Ecolab can supply the same dishwashers, cleaning products, and quality to new locations across the United States [Relation] cause [Effect] For brands such as Shake Shack, that are expanding to a national footprint, Ecolab is a preferred cleaning supplier",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Changes in new engine delivery forecasts lowers annualized fleet growth over the five-year forecast period to 0.9% from 1.3% as a result of higher wide-body aircraft retirement on the back of lower underlying demand amid airline capacity rightsizing.",
    "output": "[Cause] higher wide-body aircraft retirement on the back of lower underlying demand amid airline capacity rightsizing [Relation] cause [Effect] Changes in new engine delivery forecasts lowers annualized fleet growth over the five-year forecast period to 0.9% from 1.3%",
    "gold": "[Cause] higher wide-body aircraft retirement on the back of lower underlying demand amid airline capacity rightsizing [Relation] cause [Effect] Changes in new engine delivery forecasts lowers annualized fleet growth over the five-year forecast period to 0.9% from 1.3%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that over a cycle, operating margins will be higher going forward for several reasons: the leverage of noncompensation costs and a larger-than-historical proportion of revenue coming from the bank, which has operating margins about 3 times higher than the company as a whole.",
    "output": "[Cause] the leverage of noncompensation costs and a larger-than-historical proportion of revenue coming from the bank [Relation] cause [Effect] operating margins about 3 times higher than the company as a whole",
    "gold": "[Cause] the leverage of noncompensation costs and a larger-than-historical proportion of revenue coming from the bank [Relation] cause [Effect] over a cycle, operating margins will be higher going forward",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Automakers are capital-intensive, causing significant swings in economic profitability on relatively moderate changes in demand, and they experience cyclicality that can destroy economic value for a year or more.",
    "output": "[Cause] relatively moderate changes in demand [Relation] cause [Effect] significant swings in economic profitability",
    "gold": "[Cause] Automakers are capital-intensive [Relation] cause [Effect]  significant swings in economic profitability on relatively moderate changes in demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast marketing to tick up to 5% on average over the next 10 years (about in line with the 4.9% on average the last three years) and research and development to approximate 1.4% of sales (about $130 million a year, or about 20 basis points above the three-year average). This results in average operating margins of nearly 18% over the next 10 years (80 basis points above the prior 10-year average).",
    "output": "[Cause] marketing to tick up to 5% on average over the next 10 years (about in line with the 4.9% on average the last three years) and research and development to approximate 1.4% of sales (about $130 million a year, or about 20 basis points above the three-year average) [Relation] cause [Effect] average operating margins of nearly 18% over the next 10 years (80 basis points above the prior 10-year average)",
    "gold": "[Cause] marketing to tick up to 5% on average over the next 10 years (about in line with the 4.9% on average the last three years) and research and development to approximate 1.4% of sales (about $130 million a year, or about 20 basis points above the three-year average) [Relation] cause [Effect] average operating margins of nearly 18% over the next 10 years (80 basis points above the prior 10-year average)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This drives about 8% growth in asset management revenue after accounting for client assets shifting to fee-based from commission-based charging arrangements and general fee compression.",
    "output": "[Cause] accounting for client assets shifting to fee-based from commission-based charging arrangements and general fee compression [Relation] cause [Effect] This drives about 8% growth in asset management revenue",
    "gold": "[Cause] accounting for client assets shifting to fee-based from commission-based charging arrangements and general fee compression [Relation] cause [Effect] This drives about 8% growth in asset management revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, master franchise operators maintain a better sense of customer demographics and preferences, incur fewer obstacles from unique local regulation, and help the parent company avoid other common pitfalls associated with international expansion.",
    "output": "[Cause] fewer obstacles from unique local regulation [Relation] cause [Effect] the parent company avoid other common pitfalls associated with international expansion",
    "gold": "[Cause]  a better sense of customer demographics and preferences [Relation] cause [Effect] the parent company avoid other common pitfalls associated with international expansion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While, the adjusted ROIC rises over our forecast horizon as the assets stabilize from recent transactions and developments, it does not exceed our WACC estimate for the company.",
    "output": "[Cause] the assets stabilize from recent transactions and developments [Relation] cause [Effect] the adjusted ROIC rises over our forecast horizon",
    "gold": "[Cause] the adjusted ROIC rises over our forecast horizon as the assets stabilize from recent transactions and developments [Relation] cause [Effect] it does not exceed our WACC estimate for the company",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While this business has more attractive growth prospects than cereal (growing 1%-2%), agricultural commodities are difficult to differentiate and therefore generally do not command a price premium. As a result, this business is relatively low margin (10%-12%) and does not offer the firm a competitive advantage, in our opinion.",
    "output": "[Cause] While this business has more attractive growth prospects than cereal (growing 1%-2%), agricultural commodities are difficult to differentiate and therefore generally do not command a price premium [Relation] cause [Effect] this business is relatively low margin (10%-12%) and does not offer the firm a competitive advantage, in our opinion",
    "gold": "[Cause] While this business has more attractive growth prospects than cereal (growing 1%-2%), agricultural commodities are difficult to differentiate and therefore generally do not command a price premium [Relation] cause [Effect] this business is relatively low margin (10%-12%) and does not offer the firm a competitive advantage, in our opinion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Targeting a broad consumer base with a core customer who is female, 35-65 years old, with household income of $50,000-$250,000 also means Wayfair is competing with mass-market retailers, specialty retail, and low-cost providers, making it harder to stay front of mind perpetually.",
    "output": "[Cause] Targeting a broad consumer base with a core customer who is female, 35-65 years old, with household income of $50,000-$250,000 [Relation] cause [Effect] Wayfair is competing with mass-market retailers, specialty retail, and low-cost providers",
    "gold": "[Cause] Targeting a broad consumer base with a core customer who is female [Relation] prevent [Effect] harder to stay front of mind perpetually",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Targeting a broad consumer base with a core customer who is female, 35-65 years old, with household income of $50,000-$250,000 also means Wayfair is competing with mass-market retailers, specialty retail, and low-cost providers, making it harder to stay front of mind perpetually.",
    "output": "[Cause] Wayfair is competing with mass-market retailers, specialty retail, and low-cost providers [Relation] cause [Effect] harder to stay front of mind perpetually",
    "gold": "[Cause] 35-65 years old [Relation] prevent [Effect] harder to stay front of mind perpetually",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Targeting a broad consumer base with a core customer who is female, 35-65 years old, with household income of $50,000-$250,000 also means Wayfair is competing with mass-market retailers, specialty retail, and low-cost providers, making it harder to stay front of mind perpetually.",
    "output": "[Cause] Wayfair is competing with mass-market retailers, specialty retail, and low-cost providers [Relation] cause [Effect] harder to stay front of mind perpetually",
    "gold": "[Cause] with household income of $50,000-$250,000 [Relation] prevent [Effect] harder to stay front of mind perpetually",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, because Redfin Now remains only a small part of the company's business, with minimal disclosures, we have little visibility into unit economics.",
    "output": "[Cause] Redfin Now remains only a small part of the company's business, with minimal disclosures [Relation] cause [Effect] we have little visibility into unit economics",
    "gold": "[Cause] Redfin Now remains only a small part of the company's business, with minimal disclosures [Relation] cause [Effect] we have little visibility into unit economics",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In particular, the company's capital markets and leasing businesses tend to magnify existing volatility in the overall marketplace because of their transactional nature.",
    "output": "[Cause] their transactional nature [Relation] cause [Effect] the company's capital markets and leasing businesses tend to magnify existing volatility in the overall marketplace",
    "gold": "[Cause] their transactional nature [Relation] cause [Effect] the company's capital markets and leasing businesses tend to magnify existing volatility in the overall marketplace",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While other foundries have similar platforms, TSMC's dominant market share and technical leadership would naturally gravitate users to its OIP.",
    "output": "[Cause] TSMC's dominant market share and technical leadership [Relation] cause [Effect] gravitate users to its OIP",
    "gold": "[Cause]  TSMC's dominant market share and technical leadership [Relation] enable [Effect]  gravitate users to its OIP",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The bank has some of the more impressive underwriting history we have seen, leading to credit cost advantages over time as well.",
    "output": "[Cause] The bank has some of the more impressive underwriting history we have seen [Relation] cause [Effect] credit cost advantages over time as well",
    "gold": "[Cause] The bank has some of the more impressive underwriting history we have seen [Relation] enable [Effect]  credit cost advantages over time as well",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "First, the recent consolidation of semiconductor firms is expected to create demand for integrated systems made with the most advanced nodes.",
    "output": "[Cause] the recent consolidation of semiconductor firms [Relation] cause [Effect] create demand for integrated systems made with the most advanced nodes",
    "gold": "[Cause] the recent consolidation of semiconductor firms [Relation] cause [Effect] create demand for integrated systems made with the most advanced nodes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The niche nature of the company's offerings has prevented significant competition, and the firm's ability to combine several different products within a common digital delivery portal allows clients to leverage time spent training staff on IHS Markit's tools compared with a more piecemeal data and analytics approach.",
    "output": "[Cause] The niche nature of the company's offerings [Relation] prevent [Effect] significant competition",
    "gold": "[Cause] The niche nature of the company's offerings [Relation] prevent [Effect] significant competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We estimate a $0.01 increase in the price per pound of cotton increases annual raw material costs by approximately $6 million.",
    "output": "[Cause] a $0.01 increase in the price per pound of cotton [Relation] cause [Effect] increases annual raw material costs by approximately $6 million",
    "gold": "[Cause] a $0.01 increase in the price per pound of cotton [Relation] cause [Effect] increases annual raw material costs by approximately $6 million",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the rapid growth of large craft brands such as Sam Adams, Blue Moon, and Goose Island, the higher pack densities and lower shipping costs enabled by aluminum cans have facilitated a shift from bottles to cans.",
    "output": "[Cause] the higher pack densities and lower shipping costs enabled by aluminum cans [Relation] enable [Effect] a shift from bottles to cans",
    "gold": "[Cause] the higher pack densities and lower shipping costs enabled by aluminum cans [Relation] enable [Effect]  a shift from bottles to cans",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Adding more fracationation capacity to Mont Belvieu to address near-term capacity contraints serves to further extend Targa's control over its molecules.",
    "output": "[Cause] Adding more fracationation capacity to Mont Belvieu [Relation] enable [Effect] address near-term capacity contraints",
    "gold": "[Cause] Adding more fracationation capacity to Mont Belvieu [Relation] enable [Effect] address near-term capacity contraints",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Adding more fracationation capacity to Mont Belvieu to address near-term capacity contraints serves to further extend Targa's control over its molecules.",
    "output": "[Cause] Adding more fracationation capacity to Mont Belvieu [Relation] enable [Effect] further extend Targa's control over its molecules",
    "gold": "[Cause] address near-term capacity contraints [Relation] enable [Effect]  further extend Targa's control over its molecules",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To stay at the cutting edge of GPU technology, Nvidia has a large R&D budget relative to AMD and smaller GPU suppliers that allows it to continuously innovate and fuel a virtuous cycle for its high-margin chips.",
    "output": "[Cause] Nvidia has a large R&D budget relative to AMD and smaller GPU suppliers [Relation] enable [Effect] it to continuously innovate and fuel a virtuous cycle for its high-margin chips",
    "gold": "[Cause] To stay at the cutting edge of GPU technology [Relation] enable [Effect] allows it to continuously innovate and fuel a virtuous cycle for its high-margin chips",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Reddy's low-labor-cost operations based in India provide a low-cost edge, the continual rise of new entrants, particularly from low-cost emerging-market peers, and consolidation of sourcing entities have put significant pricing pressure across the industry, especially for the least complex generics in North America.",
    "output": "[Cause] Reddy's low-labor-cost operations based in India provide a low-cost edge, the continual rise of new entrants, particularly from low-cost emerging-market peers, and consolidation of sourcing entities [Relation] cause [Effect] significant pricing pressure across the industry, especially for the least complex generics in North America",
    "gold": "[Cause] the continual rise of new entrants [Relation] prevent [Effect] consolidation of sourcing entities have put significant pricing pressure",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With younger consumers watching less ad-supported video and using ad-blockers online, Live Nation should be able to leverage its large captive audience to grow its advertising and sponsorship revenue.",
    "output": "[Cause] younger consumers watching less ad-supported video and using ad-blockers online [Relation] enable [Effect] Live Nation should be able to leverage its large captive audience to grow its advertising and sponsorship revenue",
    "gold": "[Cause] younger consumers watching less ad-supported video and using ad-blockers online [Relation] enable [Effect]  Live Nation should be able to leverage its large captive audience to grow its advertising and sponsorship revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, predicting if and when delayed healthcare services from 2020 come back into the system could be fraught with error that leads to mispricing of insurance policies for 2021 especially.",
    "output": "[Cause] predicting if and when delayed healthcare services from 2020 come back into the system could be fraught with error [Relation] cause [Effect] mispricing of insurance policies for 2021 especially",
    "gold": "[Cause] predicting if and when delayed healthcare services from 2020 come back into the system could be fraught with error [Relation] cause [Effect] mispricing of insurance policies for 2021 especially",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although mortgages constitute the lion's share of loans to customers (66%), Lloyds has delivered robust net interest margins, speaking to its large deposit funding base and policy to prioritize margins over volume in the current environment.",
    "output": "[Cause] its large deposit funding base and policy to prioritize margins over volume in the current environment [Relation] cause [Effect] Lloyds has delivered robust net interest margins",
    "gold": "[Cause]  its large deposit funding base and policy to prioritize margins over volume in the current environment [Relation] enable [Effect]  Lloyds has delivered robust net interest margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the U.S., a sustained decline in demand for ''mainstream'' beer in favor of craft brews could lead to an unfavorable shift away from cans and toward glass in the absence of a packaging mix shift.",
    "output": "[Cause] a sustained decline in demand for ''mainstream'' beer in favor of craft brews [Relation] cause [Effect] an unfavorable shift away from cans and toward glass in the absence of a packaging mix shift",
    "gold": "[Cause] a sustained decline in demand for ''mainstream'' beer in favor of craft brews [Relation] cause [Effect] an unfavorable shift away from cans and toward glass in the absence of a packaging mix shift",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, we can see that acquisition synergies from integrating Eldorado's decentralized operating model have aided its consolidated EBITDA margin, which expanded to an estimated 27.6% in 2019 (we estimate margins were around 22% excluding these synergies) from 18.7% in 2016 (pre-Isle/Tropicana/Elgin acquisitions).",
    "output": "[Cause] acquisition synergies from integrating Eldorado's decentralized operating model [Relation] enable [Effect] expanded to an estimated 27.6% in 2019 (we estimate margins were around 22% excluding these synergies) from 18.7% in 2016 (pre-Isle/Tropicana/Elgin acquisitions)",
    "gold": "[Cause] acquisition synergies from integrating Eldorado's decentralized operating model [Relation] enable [Effect] expanded to an estimated 27.6% in 2019 (we estimate margins were around 22% excluding these synergies) from 18.7% in 2016 (pre-Isle/Tropicana/Elgin acquisitions)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Charles River's research model business has built a reputation for quality and speed, which allows it to control 35% market share of the research model &amp; services industry and 33% of the outsourced safety assessment industry worldwide.",
    "output": "[Cause] Charles River's research model business has built a reputation for quality and speed [Relation] enable [Effect] it to control 35% market share of the research model &amp; services industry and 33% of the outsourced safety assessment industry worldwide",
    "gold": "[Cause] Charles River's research model business has built a reputation for quality and speed [Relation] enable [Effect] it to control 35% market share of the research model &amp; services industry and 33% of the outsourced safety assessment industry worldwide",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For fiscal 2022, we expect a 2% drop in organic sales as consumers return to eating away from home, given the increased availability of COVID-19 vaccines.",
    "output": "[Cause] consumers return to eating away from home [Relation] cause [Effect] a 2% drop in organic sales",
    "gold": "[Cause] the increased availability of COVID-19 vaccines [Relation] cause [Effect] consumers return to eating away from home",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the coming years, we expect a modest haircut on its main operating expense, selling, general, and administrative costs, as the company continues to scale.",
    "output": "[Cause] the company continues to scale [Relation] cause [Effect] a modest haircut on its main operating expense, selling, general, and administrative costs",
    "gold": "[Cause]  the company continues to scale [Relation] cause [Effect]  a modest haircut on its main operating expense, selling, general, and administrative costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "FedEx has seen a handful of near-term headwinds in recent years, particularly heavy network investment and TNT integration outlays, then the pandemic pressured higher-margin international and B2B package demand.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] pressured higher-margin international and B2B package demand",
    "gold": "[Cause] FedEx has seen a handful of near-term headwinds in recent years, particularly heavy network investment and TNT integration outlays [Relation] enable [Effect]  the pandemic pressured higher-margin international and B2B package demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Cost-cutting can potentially improve profitability, but there is also an inflexion point where further cost-cutting will result in damage to the franchise.",
    "output": "[Cause] Cost-cutting [Relation] enable [Effect] potentially improve profitability",
    "gold": "[Cause] Cost-cutting [Relation] enable [Effect] potentially improve profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cost-cutting can potentially improve profitability, but there is also an inflexion point where further cost-cutting will result in damage to the franchise.",
    "output": "[Cause] further cost-cutting [Relation] cause [Effect] damage to the franchise",
    "gold": "[Cause] further cost-cutting [Relation] cause [Effect] damage to the franchise",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're expecting capital expenditure will be about $2.5 billion in 2021, as Delta has deferred many of its orders from Airbus, and to average around $3.8 billion over our forecast period.",
    "output": "[Cause] Delta has deferred many of its orders from Airbus [Relation] cause [Effect] capital expenditure will be about $2.5 billion in 2021",
    "gold": "[Cause] [Relation] cause [Effect] as Delta has deferred many of its orders from Airbus, | and to average around $3.8 billion over our forecast period.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We suspect that if management were to turn off the acquisition spigot, ROICs might increase, but even modeling continued acquisitions, we project ROICs remaining at the midteen level throughout our five-year explicit forecast term, which is in line with historical numbers.",
    "output": "[Cause] management were to turn off the acquisition spigot [Relation] cause [Effect] ROICs might increase",
    "gold": "[Cause]  management were to turn off the acquisition spigot [Relation] enable [Effect] ROICs might increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Railroads occasionally build new spurs or restore abandoned lines, but we anticipate no new mainlines will be built, given the massive barriers to entry.",
    "output": "[Cause] the massive barriers to entry [Relation] cause [Effect] no new mainlines will be built",
    "gold": "[Cause] the massive barriers to entry [Relation] cause [Effect] no new mainlines will be built",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, customer reviews, product recommendations, and wish lists increase in relevance as more consumers and products are added to the Amazon platform, enhancing its network effect.",
    "output": "[Cause] customer reviews, product recommendations, and wish lists increase in relevance as more consumers and products are added to the Amazon platform [Relation] enable [Effect] enhancing its network effect",
    "gold": "[Cause]  customer reviews, product recommendations, and wish lists increase in relevance [Relation] cause [Effect] more consumers and products are added to the Amazon platform",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Most tractors are compatible with different trailer platforms, making it possible for fleet owners to operate a diverse set of tractors.",
    "output": "[Cause] Most tractors are compatible with different trailer platforms [Relation] enable [Effect] fleet owners to operate a diverse set of tractors",
    "gold": "[Cause] Most tractors are compatible with different trailer platforms [Relation] enable [Effect] fleet owners to operate a diverse set of tractors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In research publishing and platforms (52% of fiscal 2020 revenue), we expect tight library budgets to limit revenue growth, despite expansion from open access arrangements.",
    "output": "[Cause] tight library budgets [Relation] prevent [Effect] revenue growth",
    "gold": "[Cause] tight library budgets [Relation] prevent [Effect] revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With significant volumes of its interior ranges being distributed via the home improvement retailers, there exists better visibility of its relative pricing position.",
    "output": "[Cause] significant volumes of its interior ranges being distributed via the home improvement retailers [Relation] cause [Effect] there exists better visibility of its relative pricing position",
    "gold": "[Cause] significant volumes of its interior ranges being distributed via the home improvement retailers [Relation] cause [Effect] there exists better visibility of its relative pricing position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As next-generation aircraft gradually replace legacy models across the global fleet, we expect Howmet's revenue and profitability to grow materially.",
    "output": "[Cause] next-generation aircraft gradually replace legacy models across the global fleet [Relation] cause [Effect] Howmet's revenue and profitability to grow materially",
    "gold": "[Cause] next-generation aircraft gradually replace legacy models across the global fleet [Relation] cause [Effect] Howmet's revenue and profitability to grow materially",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To illustrate, Airbnb's take rate has increased steadily each year to 12.7% in 2019 from 11.4% in 2014, indicating that both hosts and guests are finding value in its platform.",
    "output": "[Cause] Airbnb's take rate has increased steadily each year to 12.7% in 2019 from 11.4% in 2014 [Relation] enable [Effect] both hosts and guests are finding value in its platform",
    "gold": "[Cause] both hosts and guests are finding value in its platform [Relation] cause [Effect] Airbnb's take rate has increased steadily each year to 12.7% in 2019 from 11.4% in 2014",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Wells Fargo's operating efficiency has generally been close to or better than peers in most years, however this has admittedly changed in recent years given extra expenses associated with the bank's regulatory issues.",
    "output": "[Cause] extra expenses associated with the bank's regulatory issues [Relation] cause [Effect] Wells Fargo's operating efficiency has generally been close to or better than peers in most years, however this has admittedly changed in recent years",
    "gold": "[Cause] extra expenses associated with the bank's regulatory issues [Relation] cause [Effect] Wells Fargo's operating efficiency has generally been close to or better than peers in most years, however this has admittedly changed in recent years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're anticipating relatively stable margins over the medium term, as we anticipate the divestiture of the IT services business will structurally improve margins but that this impact will be partially offset by increased low-margin development programs within the sales mix.",
    "output": "[Cause] increased low-margin development programs within the sales mix [Relation] prevent [Effect] this impact",
    "gold": "[Cause]  increased low-margin development programs within the sales mix [Relation] prevent [Effect] this impact",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For customers, switching to an alternative product poses significant risk to their operations, with the potential for disruptions from machine failures and long lead times to service equipment.",
    "output": "[Cause] switching to an alternative product [Relation] cause [Effect] significant risk to their operations",
    "gold": "[Cause] switching to an alternative product poses significant risk to their operations [Relation] cause [Effect] the potential for disruptions from machine failures and long lead times to service equipment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because of the high cost of content, margins in the television business are far inferior to the rest of Altice USA's business.",
    "output": "[Cause] the high cost of content [Relation] cause [Effect] margins in the television business are far inferior to the rest of Altice USA's business",
    "gold": "[Cause]  the high cost of content [Relation] cause [Effect] margins in the television business are far inferior to the rest of Altice USA's business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If herd supply is insufficient, cattle/hog prices can inflate to a greater degree than Tyson's customers can absorb, and Tyson may be forced to accept a lower margin to generate revenue.",
    "output": "[Cause] herd supply is insufficient [Relation] cause [Effect] cattle/hog prices can inflate to a greater degree than Tyson's customers can absorb, and Tyson may be forced to accept a lower margin to generate revenue",
    "gold": "[Cause] herd supply is insufficient [Relation] cause [Effect] cattle/hog prices can inflate to a greater degree than Tyson's customers can absorb, and Tyson may be forced to accept a lower margin to generate revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In light of this increasing domestic pressure, Align has expanded its market efforts to new markets (outside of North America ) in addition to direct marketing of generalists (dentists) and consumers.",
    "output": "[Cause] this increasing domestic pressure [Relation] cause [Effect] Align has expanded its market efforts to new markets",
    "gold": "[Cause] this increasing domestic pressure [Relation] cause [Effect] Align has expanded its market efforts to new markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In light of this increasing domestic pressure, Align has expanded its market efforts to new markets (outside of North America ) in addition to direct marketing of generalists (dentists) and consumers.",
    "output": "[Cause] direct marketing of generalists (dentists) and consumers [Relation] enable [Effect] Align has expanded its market efforts to new markets",
    "gold": "[Cause] this increasing domestic pressure [Relation] cause [Effect]  direct marketing of generalists (dentists) and consumers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In 2018, a 9% price increase led to an 11% volume decline in foodservice, and a 3% price increase resulted in a 3% drop in volume in the international segment.",
    "output": "[Cause] a 9% price increase [Relation] cause [Effect] an 11% volume decline in foodservice",
    "gold": "[Cause] a 9% price increase [Relation] enable [Effect] an 11% volume decline in foodservice",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2018, a 9% price increase led to an 11% volume decline in foodservice, and a 3% price increase resulted in a 3% drop in volume in the international segment.",
    "output": "[Cause] a 3% price increase [Relation] cause [Effect] a 3% drop in volume in the international segment",
    "gold": "[Cause]  a 3% price increase [Relation] enable [Effect] a 3% drop in volume in the international segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through service contracts, customers indirectly have access to this database that can greatly accelerate the time it takes to solve issues in their process flow, thus reducing tool down time and improving yields.",
    "output": "[Cause] service contracts [Relation] enable [Effect] customers indirectly have access to this database",
    "gold": "[Cause] service contracts [Relation] enable [Effect] customers indirectly have access to this database",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through service contracts, customers indirectly have access to this database that can greatly accelerate the time it takes to solve issues in their process flow, thus reducing tool down time and improving yields.",
    "output": "[Cause] greatly accelerate the time it takes to solve issues in their process flow [Relation] enable [Effect] reducing tool down time and improving yields",
    "gold": "[Cause] customers indirectly have access to this database [Relation] enable [Effect]  greatly accelerate the time it takes to solve issues in their process flow",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Through service contracts, customers indirectly have access to this database that can greatly accelerate the time it takes to solve issues in their process flow, thus reducing tool down time and improving yields.",
    "output": "[Cause] greatly accelerate the time it takes to solve issues in their process flow [Relation] enable [Effect] reducing tool down time and improving yields",
    "gold": "[Cause]  greatly accelerate the time it takes to solve issues in their process flow [Relation] enable [Effect] reducing tool down time and improving yields",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the long run, we believe that Nordson is well positioned to deliver profitable growth driven by opportunities in the medical and electronics end markets, as new technologies drive demand for the firm's dispensing solutions.",
    "output": "[Cause] opportunities in the medical and electronics end markets [Relation] enable [Effect] Nordson is well positioned to deliver profitable growth",
    "gold": "[Cause] opportunities in the medical and electronics end markets [Relation] cause [Effect] Nordson is well positioned to deliver profitable growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the long run, we believe that Nordson is well positioned to deliver profitable growth driven by opportunities in the medical and electronics end markets, as new technologies drive demand for the firm's dispensing solutions.",
    "output": "[Cause] opportunities in the medical and electronics end markets [Relation] enable [Effect] Nordson is well positioned to deliver profitable growth",
    "gold": "[Cause] new technologies drive demand for the firm's dispensing solutions [Relation] cause [Effect] Nordson is well positioned to deliver profitable growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, given that the bauxite mining and alumina refining cost curves are very flat, we'd only consider the companies with the very lowest unit costs to have a durable cost advantage.",
    "output": "[Cause] the bauxite mining and alumina refining cost curves are very flat [Relation] cause [Effect] we'd only consider the companies with the very lowest unit costs to have a durable cost advantage",
    "gold": "[Cause]  the companies with the very lowest unit [Relation] enable [Effect]  have a durable cost advantage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In particular, we believe Pascua-Lama entails a significant amount of risk, given the cross-border position of the ore and operations, the high altitude in the Andes, and the delays and capital cost inflation already experienced since the project first entered the pipeline.",
    "output": "[Cause] the cross-border position of the ore and operations, the high altitude in the Andes, and the delays and capital cost inflation already experienced since the project first entered the pipeline [Relation] cause [Effect] Pascua-Lama entails a significant amount of risk",
    "gold": "[Cause] the cross-border position of the ore and operations, the high altitude in the Andes, and the delays and capital cost inflation already experienced since the project first entered the pipeline [Relation] cause [Effect] Pascua-Lama entails a significant amount of risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From a division perspective, we forecast price/mix contributing the preponderance of revenue growth except in Asia and Africa, where we expect more unit growth as lower per capita consumption and recent acquisitions (like Pioneer) support volume gains.",
    "output": "[Cause] lower per capita consumption and recent acquisitions (like Pioneer) support volume gains [Relation] cause [Effect] more unit growth",
    "gold": "[Cause]  lower per capita consumption and recent acquisitions (like Pioneer) support volume gains [Relation] enable [Effect]  more unit growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's franchises have a dedicated user base, providing Take-Two with the leverage to push more of its games via direct digital channels, thus bypassing retailers, generating higher gross margins, and improving returns on invested capital.",
    "output": "[Cause] The company's franchises have a dedicated user base [Relation] enable [Effect] Take-Two with the leverage to push more of its games via direct digital channels",
    "gold": "[Cause] The company's franchises have a dedicated user base [Relation] cause [Effect] Take-Two with the leverage to push more of its games via direct digital channels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's franchises have a dedicated user base, providing Take-Two with the leverage to push more of its games via direct digital channels, thus bypassing retailers, generating higher gross margins, and improving returns on invested capital.",
    "output": "[Cause] Take-Two with the leverage to push more of its games via direct digital channels [Relation] enable [Effect] bypassing retailers, generating higher gross margins, and improving returns on invested capital",
    "gold": "[Cause] Take-Two with the leverage to push more of its games via direct digital channels [Relation] cause [Effect] bypassing retailers, generating higher gross margins, and improving returns on invested capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the short-cycle nature of its business, visibility is low in comparison with the larger backlog other peers enjoy, though Rockwell's backlog grew 20% year over year in the fiscal first quarter and its order book was strong.",
    "output": "[Cause] the short-cycle nature of its business [Relation] cause [Effect] visibility is low in comparison with the larger backlog other peers enjoy",
    "gold": "[Cause] the short-cycle nature of its business [Relation] cause [Effect] visibility is low in comparison with the larger backlog other peers enjoy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ResMed is taking a \"\"\"\"smart devices\"\"\"\" and \"\"\"\"big data\"\"\"\" approach to further entrench itself as one of the two leading players in the global sleep apnea market.",
    "output": "[Cause] ResMed is taking a \"\"\"\"smart devices\"\"\"\" and \"\"\"\"big data\"\"\"\" approach [Relation] enable [Effect] to further entrench itself as one of the two leading players in the global sleep apnea market",
    "gold": "[Cause] ResMed is taking a \"\"\"\"smart devices\"\"\"\" and \"\"\"\"big data\"\"\"\" approach [Relation] enable [Effect] to further entrench itself as one of the two leading players in the global sleep apnea market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We admit this has begun to change as a result of COVID-19, with sales split more evenly between physical and digital in the period, a shift that should remain persistent given expected store closures.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] sales split more evenly between physical and digital in the period",
    "gold": "[Cause] expected store closures [Relation] cause [Effect] a shift that should remain persistent",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We admit this has begun to change as a result of COVID-19, with sales split more evenly between physical and digital in the period, a shift that should remain persistent given expected store closures.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] sales split more evenly between physical and digital in the period",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] sales split more evenly between physical and digital in the period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In many cases, this means an exchange can create ancillary products to capitalize on strength within a particular asset class.",
    "output": "[Cause] an exchange can create ancillary products [Relation] enable [Effect] capitalize on strength within a particular asset class",
    "gold": "[Cause] an exchange can create ancillary products [Relation] cause [Effect] capitalize on strength within a particular asset class",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With thousands of partners, including Avaya and AT&T, the firm has been able to expand within the enterprise and international markets over time.",
    "output": "[Cause] thousands of partners, including Avaya and AT&T [Relation] enable [Effect] the firm has been able to expand within the enterprise and international markets over time",
    "gold": "[Cause] thousands of partners, including Avaya and AT&T [Relation] enable [Effect] the firm has been able to expand within the enterprise and international markets over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In organic terms, we expect the firm to grow at a low-single-digit rate, driven mainly by positive developments in Bangladesh.",
    "output": "[Cause] positive developments in Bangladesh [Relation] cause [Effect] the firm to grow at a low-single-digit rate",
    "gold": "[Cause] positive developments in Bangladesh [Relation] cause [Effect] the firm to grow at a low-single-digit rate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These facets enhance switching costs, as these increasingly customized solutions help improve operational efficiency, support employee productivity, and lead to higher customer satisfaction.",
    "output": "[Cause] these increasingly customized solutions help improve operational efficiency, support employee productivity, and lead to higher customer satisfaction [Relation] cause [Effect] These facets enhance switching costs",
    "gold": "[Cause] These facets enhance switching costs [Relation] cause [Effect]  these increasingly customized solutions help improve operational efficiency, support employee productivity, and lead to higher customer satisfaction",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Turbulent energy markets and excessive leverage led EFH into bankruptcy just seven years after several high-profile investors closed a $45 billion leveraged buyout, the largest ever at the time.",
    "output": "[Cause] Turbulent energy markets and excessive leverage [Relation] cause [Effect] EFH into bankruptcy",
    "gold": "[Cause] seven years after several high-profile investors closed a $45 billion leveraged buyout [Relation] cause [Effect] Turbulent energy markets and excessive leverage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Turbulent energy markets and excessive leverage led EFH into bankruptcy just seven years after several high-profile investors closed a $45 billion leveraged buyout, the largest ever at the time.",
    "output": "[Cause] Turbulent energy markets and excessive leverage [Relation] cause [Effect] EFH into bankruptcy",
    "gold": "[Cause] Turbulent energy markets and excessive leverage [Relation] cause [Effect]  EFH into bankruptcy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the firm introducing new technology and aiming to become even more efficient, we believe margins could improve further, which bolsters our confidence in Baxter's ability to generate economic profits in the Medical Instruments & Supplieslong run.",
    "output": "[Cause] the firm introducing new technology and aiming to become even more efficient [Relation] cause [Effect] margins could improve further",
    "gold": "[Cause] With the firm introducing new technology and aiming to become even more efficient, we believe margins could improve further [Relation] enable [Effect] bolsters our confidence in Baxter's ability to generate economic profits in the Medical Instruments & Supplieslong run",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Five Below stocks only about 4,000 items per store, versus over 7,000 at Dollar Tree (both chains' locations average roughly 8,500 square feet in size). This approach allows it to order in a size not otherwise befitting a chain of only 1,020 stores (as of the end of fiscal 2020).",
    "output": "[Cause] Five Below stocks only about 4,000 items per store, versus over 7,000 at Dollar Tree (both chains' locations average roughly 8,500 square feet in size) [Relation] enable [Effect] it to order in a size not otherwise befitting a chain of only 1,020 stores (as of the end of fiscal 2020)",
    "gold": "[Cause] Five Below stocks only about 4,000 items per store, versus over 7,000 at Dollar Tree (both chains' locations average roughly 8,500 square feet in size) [Relation] enable [Effect]  it to order in a size not otherwise befitting a chain of only 1,020 stores (as of the end of fiscal 2020)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Burlington opens new, smaller-format stores (management plans to move to a 25,000 square foot target for new units by 2022) and relocates existing locations into more optimal properties, we anticipate its economics should improve while customers enjoy a more focused store experience.",
    "output": "[Cause] Burlington opens new, smaller-format stores (management plans to move to a 25,000 square foot target for new units by 2022) and relocates existing locations into more optimal properties [Relation] cause [Effect] we anticipate its economics should improve while customers enjoy a more focused store experience",
    "gold": "[Cause] Burlington opens new, smaller-format stores (management plans to move to a 25,000 square foot target for new units by 2022) and relocates existing locations into more optimal properties [Relation] cause [Effect] we anticipate its economics should improve while customers enjoy a more focused store experience",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "HollyFrontier's primary ESG risk is the implantation of a carbon tax on the emissions associated with its operations and products.",
    "output": "[Cause] the implantation of a carbon tax on the emissions associated with its operations and products [Relation] cause [Effect] HollyFrontier's primary ESG risk",
    "gold": "[Cause] the implantation of a carbon tax on the emissions associated with its operations and products [Relation] enable [Effect] HollyFrontier's primary ESG risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Donaldson faces headwinds in the gas turbine and disk drive end markets (each accounting for 4% of the firm's sales in fiscal 2018), as the former has been in a downward cycle and the latter is in secular decline.",
    "output": "[Cause] the former has been in a downward cycle and the latter is in secular decline [Relation] cause [Effect] Donaldson faces headwinds in the gas turbine and disk drive end markets (each accounting for 4% of the firm's sales in fiscal 2018)",
    "gold": "[Cause] the former has been in a downward cycle and the latter is in secular decline [Relation] cause [Effect] Donaldson faces headwinds in the gas turbine and disk drive end markets (each accounting for 4% of the firm's sales in fiscal 2018)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, Hanesbrands has expanded its international business through acquisitions and reduced its dependence on mass market innerwear in the U.S.",
    "output": "[Cause] acquisitions [Relation] enable [Effect] Hanesbrands has expanded its international business",
    "gold": "[Cause] acquisitions [Relation] cause [Effect] Hanesbrands has expanded its international business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, Hanesbrands has expanded its international business through acquisitions and reduced its dependence on mass market innerwear in the U.S.",
    "output": "[Cause] Hanesbrands has expanded its international business [Relation] cause [Effect] reduced its dependence on mass market innerwear in the U.S",
    "gold": "[Cause] acquisitions [Relation] cause [Effect] reduced its dependence on mass market innerwear in the U.S.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The bank is also small enough to avoid the Federal Reserve's annual CCAR and DFAST exams, and the bank is also not subject to any of the LCR or modified LCR requirements.",
    "output": "[Cause] The bank is also small enough [Relation] prevent [Effect] the Federal Reserve's annual CCAR and DFAST exams",
    "gold": "[Cause] The bank is also small enough [Relation] enable [Effect]  the bank is also not subject to any of the LCR or modified LCR requirements",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Synchrony's net interest margins were affected by increased liquidity as credit card receivables made up a smaller portion of their asset base after declining sharply in the first half of 2020.",
    "output": "[Cause] credit card receivables made up a smaller portion of their asset base after declining sharply in the first half of 2020 [Relation] cause [Effect] Synchrony's net interest margins were affected by increased liquidity",
    "gold": "[Cause] credit card receivables made up a smaller portion of their asset base after declining sharply in the first half of 2020 [Relation] cause [Effect] Synchrony's net interest margins were affected by increased liquidity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Online education firms including Youdao were warned for aggressive promotions and sales so far in advance, excessive discounting, classes after 9pm etc.",
    "output": "[Cause] aggressive promotions and sales so far in advance, excessive discounting, classes after 9pm etc [Relation] cause [Effect] Online education firms including Youdao were warned",
    "gold": "[Cause] aggressive promotions and sales so far in advance, excessive discounting, classes after 9pm etc [Relation] cause [Effect] Online education firms including Youdao were warned",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Contractual service offerings like HP's DaaS are alluring to businesses since IT teams can offload hardware management, receive analytics to proactively mitigate computer issues, and pay monthly instead of facing unpredictable large capital expenditures.",
    "output": "[Cause] IT teams can offload hardware management, receive analytics to proactively mitigate computer issues, and pay monthly instead of facing unpredictable large capital expenditures [Relation] cause [Effect] Contractual service offerings like HP's DaaS are alluring to businesses",
    "gold": "[Cause]  IT teams can offload hardware management, receive analytics to proactively mitigate computer issues, and pay monthly instead of facing unpredictable large capital expenditures [Relation] enable [Effect] Contractual service offerings like HP's DaaS are alluring to businesses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The armies of specialized engineers employed at these two firms play a key role in turning customer-specific computer code into a functional FPGA, as their extensive experience can't be easily replicated at FPGA startups. As a result, we view Xilinx as being able to sustain healthy returns on invested capital over the next 10 years.",
    "output": "[Cause] The armies of specialized engineers employed at these two firms play a key role in turning customer-specific computer code into a functional FPGA, as their extensive experience can't be easily replicated at FPGA startups [Relation] cause [Effect] we view Xilinx as being able to sustain healthy returns on invested capital over the next 10 years",
    "gold": "[Cause] The armies of specialized engineers employed at these two firms play a key role in turning customer-specific computer code into a functional FPGA, as their extensive experience can't be easily replicated at FPGA startups [Relation] cause [Effect] we view Xilinx as being able to sustain healthy returns on invested capital over the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The bank is one of the top issuers of credit and debit cards, where many of the costs of running a payments platform are fixed and high in nature, leading to the need for scale.",
    "output": "[Cause] many of the costs of running a payments platform are fixed and high in nature [Relation] cause [Effect] the need for scale",
    "gold": "[Cause] many of the costs of running a payments platform are fixed and high in nature [Relation] cause [Effect] the need for scale",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Following third-quarter results, we are raising our fair value estimate for Norfolk Southern slightly, to $179 per share (from $177) due to increasing our near-term margin forecasts on account of recent impressive performance.",
    "output": "[Cause] increasing our near-term margin forecasts on account of recent impressive performance [Relation] cause [Effect] we are raising our fair value estimate for Norfolk Southern slightly, to $179 per share (from $177)",
    "gold": "[Cause]  increasing our near-term margin forecasts on account of recent impressive performance [Relation] enable [Effect] we are raising our fair value estimate for Norfolk Southern slightly, to $179 per share (from $177)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The high-growth period of China's export boom is probably over, and cost inflation and currency appreciation are shaving away the competitive advantages that Chinese manufacturers once enjoyed.",
    "output": "[Cause] cost inflation and currency appreciation [Relation] prevent [Effect] the competitive advantages that Chinese manufacturers once enjoyed",
    "gold": "[Cause] cost inflation and currency appreciation [Relation] prevent [Effect] the competitive advantages that Chinese manufacturers once enjoyed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, the increasingly viral nature of the media creates omnipresent ESG risk in the form of potential brand harm, in our view.",
    "output": "[Cause] the increasingly viral nature of the media [Relation] cause [Effect] omnipresent ESG risk in the form of potential brand harm",
    "gold": "[Cause] the increasingly viral nature of the media [Relation] cause [Effect] omnipresent ESG risk in the form of potential brand harm",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Eylea could see worldwide peak sales of $8 billion should it continue growing in international markets, despite slower U.S.",
    "output": "[Cause] it continue growing in international markets [Relation] enable [Effect] Eylea could see worldwide peak sales of $8 billion",
    "gold": "[Cause] it continue growing in international markets [Relation] enable [Effect] Eylea could see worldwide peak sales of $8 billion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The proposed Northern Gateway crude pipeline's approval was overturned by a federal court, affecting Enbridge's ability to develop new major crude pipeline projects.",
    "output": "[Cause] The proposed Northern Gateway crude pipeline's approval was overturned by a federal court [Relation] cause [Effect] Enbridge's ability to develop new major crude pipeline projects",
    "gold": "[Cause] The proposed Northern Gateway crude pipeline's approval was overturned by a federal court [Relation] prevent [Effect] Enbridge's ability to develop new major crude pipeline projects",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Factors threatening Magna's success include global economic uncertainty, significant reliance on the Detroit Three (43% of total 2018 revenue), limited exposure in developing markets, and raw material cost volatility.",
    "output": "[Cause] global economic uncertainty, significant reliance on the Detroit Three (43% of total 2018 revenue), limited exposure in developing markets, and raw material cost volatility [Relation] cause [Effect] Magna's success",
    "gold": "[Cause] global economic uncertainty, significant reliance on the Detroit Three (43% of total 2018 revenue), limited exposure in developing markets, and raw material cost volatility [Relation] prevent [Effect] Magna's success",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do not expect competition in the form of a substitute for Facebook, as most consumers are users of more than one social network.",
    "output": "[Cause] most consumers are users of more than one social network [Relation] cause [Effect] We do not expect competition in the form of a substitute for Facebook",
    "gold": "[Cause] most consumers are users of more than one social network [Relation] cause [Effect] We do not expect competition in the form of a substitute for Facebook",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the original equipment manufacturers would likely find difficulty finding an alternative supplier, long-term agreements that set fixed prices and sometimes volume-based discounts govern the bulk of Spirit's revenue, so the firm cannot effectively raise prices on customers.",
    "output": "[Cause] set fixed prices and sometimes volume-based discounts govern the bulk of Spirit's revenue [Relation] cause [Effect] the firm cannot effectively raise prices on customers",
    "gold": "[Cause]  set fixed prices and sometimes volume-based discounts govern the bulk of Spirit's revenue [Relation] enable [Effect] the firm cannot effectively raise prices on customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Investigations into junkets over money-laundering and illicit money outflow led to more-stringent background checks, and a junket operator's disappearance with USD 1.3 billion in April 2014 weakened investor confidence in funding junket operations.",
    "output": "[Cause] Investigations into junkets over money-laundering and illicit money outflow [Relation] cause [Effect] more-stringent background checks",
    "gold": "[Cause] Investigations into junkets over money-laundering and illicit money outflow [Relation] cause [Effect] more-stringent background checks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Investigations into junkets over money-laundering and illicit money outflow led to more-stringent background checks, and a junket operator's disappearance with USD 1.3 billion in April 2014 weakened investor confidence in funding junket operations.",
    "output": "[Cause] a junket operator's disappearance with USD 1.3 billion in April 2014 [Relation] cause [Effect] weakened investor confidence in funding junket operations",
    "gold": "[Cause] a junket operator's disappearance with USD 1.3 billion in April 2014 [Relation] enable [Effect] weakened investor confidence in funding junket operations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Autodesk is now significantly more immune to a downturn because of its subscription model, which, unlike its previous license and maintenance model, cuts off all access to the software when a customer goes off his or her subscription.",
    "output": "[Cause] its subscription model [Relation] cause [Effect] Autodesk is now significantly more immune to a downturn",
    "gold": "[Cause] subscription model, which, unlike its previous license and maintenance model, cuts off all access to the software when a customer goes off his or her subscription [Relation] cause [Effect] significantly more immune to a downturn",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As Diamondback has been active in the play since 2007, it had a head start when the industry finally started recognizing its full potential. This enabled the company to lock up a large part of its leasehold before the ensuing land grab pushed up prices.",
    "output": "[Cause] Diamondback has been active in the play since 2007, it had a head start when the industry finally started recognizing its full potential [Relation] enable [Effect] the company to lock up a large part of its leasehold before the ensuing land grab pushed up prices",
    "gold": "[Cause] Diamondback has been active in the play since 2007, it had a head start when the industry finally started recognizing its full potential [Relation] enable [Effect] the company to lock up a large part of its leasehold before the ensuing land grab pushed up prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Beyond using the content on its own channels worldwide, Discovery can license the same shows to SVOD providers globally, as the company owns the digital rights to the majority of its content.",
    "output": "[Cause] the company owns the digital rights to the majority of its content [Relation] cause [Effect] Discovery can license the same shows to SVOD providers globally",
    "gold": "[Cause] the company owns the digital rights to the majority of its content [Relation] cause [Effect] Discovery can license the same shows to SVOD providers globally",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the strength of the Coach brand has made it one of the largest luxury leather goods firms in the world in terms of units and revenue.",
    "output": "[Cause] the strength of the Coach brand [Relation] enable [Effect] it one of the largest luxury leather goods firms in the world in terms of units and revenue",
    "gold": "[Cause] the strength of the Coach brand [Relation] cause [Effect] it one of the largest luxury leather goods firms in the world in terms of units and revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, the customer could risk production delays from testing a new system or face the potential for disruption during production.",
    "output": "[Cause] testing a new system [Relation] cause [Effect] the customer could risk production delays",
    "gold": "[Cause] testing a new system [Relation] cause [Effect] the customer could risk production delays",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With an aging product portfolio, Nissan has been reversing the previous strategy, renewing the product portfolio, reducing incentives, and cutting sales to daily rental car companies.",
    "output": "[Cause] Nissan has been reversing the previous strategy, renewing the product portfolio, reducing incentives, and cutting sales to daily rental car companies [Relation] cause [Effect] Nissan has been reversing the previous strategy",
    "gold": "[Cause] an aging product portfolio [Relation] cause [Effect]  Nissan has been reversing the previous strategy, renewing the product portfolio, reducing incentives, and cutting sales to daily rental car companies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also think the threat of Tencent re-entering into the microblog business in a big way is limited, as Tencent strategically reduced its resources in noncore businesses such as microblogs, e-commerce, and search, and focused on QQ and WeChat.",
    "output": "[Cause] Tencent strategically reduced its resources in noncore businesses such as microblogs, e-commerce, and search, and focused on QQ and WeChat [Relation] cause [Effect] the threat of Tencent re-entering into the microblog business in a big way is limited",
    "gold": "[Cause] Tencent strategically reduced its resources in noncore businesses such as microblogs, e-commerce, and search, and focused on QQ and WeChat [Relation] cause [Effect] the threat of Tencent re-entering into the microblog business in a big way is limited",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to the critical nature of Amphenol's products, the reliability and lasting safety of these products is paramount, necessitating close collaboration between the local engineering team and the customer.",
    "output": "[Cause] the critical nature of Amphenol's products [Relation] cause [Effect] the reliability and lasting safety of these products is paramount",
    "gold": "[Cause] the critical nature of Amphenol's products [Relation] enable [Effect]  the reliability and lasting safety of these products is paramount",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We reduced our 2021 delivery forecast to 800,000 from 950,000 as we expect the semiconductor shortage to slow Tesla's production.",
    "output": "[Cause] the semiconductor shortage [Relation] cause [Effect] slow Tesla's production",
    "gold": "[Cause] the semiconductor shortage [Relation] cause [Effect] slow Tesla's production",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We reduced our 2021 delivery forecast to 800,000 from 950,000 as we expect the semiconductor shortage to slow Tesla's production.",
    "output": "[Cause] the semiconductor shortage [Relation] cause [Effect] slow Tesla's production",
    "gold": "[Cause] the semiconductor shortage to slow Tesla's production [Relation] cause [Effect] We reduced our 2021 delivery forecast to 800,000 from 950,000",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company has significant customer concentration with Apple (56% of fiscal 2020 revenue), and it would be a damaging blow to Skyworks if it were to ever miss out on a future iPhone design cycle.",
    "output": "[Cause] The company has significant customer concentration with Apple (56% of fiscal 2020 revenue) [Relation] cause [Effect] it would be a damaging blow to Skyworks if it were to ever miss out on a future iPhone design cycle",
    "gold": "[Cause] The company has significant customer concentration with Apple (56% of fiscal 2020 revenue) [Relation] enable [Effect]  it would be a damaging blow to Skyworks if it were to ever miss out on a future iPhone design cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After a very strong 2021, in which consumers stayed home and stocked up on electronics, we think demand will be more rational in 2022 as people find more avenues to spend excess income, though there may be some bumps from popular releases, such as the PS5.",
    "output": "[Cause] people find more avenues to spend excess income [Relation] cause [Effect] demand will be more rational in 2022",
    "gold": "[Cause] people find more avenues to spend excess income [Relation] cause [Effect] demand will be more rational in 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The warehouse setup maximizes efficiency by allowing Costco to stock large quantities of goods at their point of sale (often stacked on pallets), reducing internal distribution costs.",
    "output": "[Cause] The warehouse setup maximizes efficiency by allowing Costco to stock large quantities of goods at their point of sale (often stacked on pallets) [Relation] enable [Effect] reducing internal distribution costs",
    "gold": "[Cause] allowing Costco to stock large quantities of goods at their point of sale (often stacked on pallets), reducing internal distribution costs [Relation] enable [Effect] The warehouse setup maximizes efficiency",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "It may be tough for Snap to add new users quickly and create large enough communities for advertisers to launch big campaigns consistently.",
    "output": "[Cause] Snap to add new users quickly and create large enough communities for advertisers [Relation] cause [Effect] launch big campaigns consistently",
    "gold": "[Cause]  Snap to add new users quickly and create large enough communities for advertisers [Relation] enable [Effect] launch big campaigns consistently",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Telus is now a much stronger competitor after having installed fiber over most of its network, the very high capital expenditures that were required to build out the fiber should help to support industry pricing and margins, as Telus needs to recoup its investment.",
    "output": "[Cause] having installed fiber over most of its network [Relation] cause [Effect] Telus is now a much stronger competitor",
    "gold": "[Cause] having installed fiber over most of its network [Relation] cause [Effect] Telus is now a much stronger competitor",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Telus is now a much stronger competitor after having installed fiber over most of its network, the very high capital expenditures that were required to build out the fiber should help to support industry pricing and margins, as Telus needs to recoup its investment.",
    "output": "[Cause] Telus needs to recoup its investment [Relation] cause [Effect] the very high capital expenditures that were required to build out the fiber should help to support industry pricing and margins",
    "gold": "[Cause] Telus needs to recoup its investment [Relation] cause [Effect] the very high capital expenditures that were required to build out the fiber should help to support industry pricing and margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Operationally, Charter management has chosen to prioritize customer penetration over pricing, both to manage through the integration process and, more importantly, on the belief that higher penetration rates will maximize the long-term value of the firm.",
    "output": "[Cause] both to manage through the integration process and, more importantly, on the belief that higher penetration rates will maximize the long-term value of the firm [Relation] cause [Effect] Charter management has chosen to prioritize customer penetration over pricing",
    "gold": "[Cause] both to manage through the integration process and, more importantly, on the belief that higher penetration rates will maximize the long-term value of the firm [Relation] cause [Effect] Charter management has chosen to prioritize customer penetration over pricing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Should operating rates continue to fall, Silgan could pursue costly acquisitions in order to shutter capacity that competes with its own.",
    "output": "[Cause] operating rates continue to fall [Relation] cause [Effect] Silgan could pursue costly acquisitions in order to shutter capacity that competes with its own",
    "gold": "[Cause] operating rates continue to fall [Relation] cause [Effect] Silgan could pursue costly acquisitions in order to shutter capacity that competes with its own",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Plains GP is a limited partnership that has elected to be taxed as a corporation and thus issues a 1099 and has deferred tax assets that allow it to prolong paying U.S.",
    "output": "[Cause] Plains GP is a limited partnership that has elected to be taxed as a corporation [Relation] cause [Effect] issues a 1099",
    "gold": "[Cause] Plains GP is a limited partnership that has elected to be taxed as a corporation [Relation] cause [Effect]  issues a 1099",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Plains GP is a limited partnership that has elected to be taxed as a corporation and thus issues a 1099 and has deferred tax assets that allow it to prolong paying U.S.",
    "output": "[Cause] has deferred tax assets [Relation] enable [Effect] prolong paying U.S",
    "gold": "[Cause] has deferred tax assets [Relation] enable [Effect] prolong paying U.S",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the need for content delivery networks continues to grow and that additional edge computing capabilities will bring business that CDNs previously wouldn't have been good candidates to serve.",
    "output": "[Cause] additional edge computing capabilities [Relation] enable [Effect] bring business that CDNs previously wouldn't have been good candidates to serve",
    "gold": "[Cause] additional edge computing capabilities [Relation] enable [Effect] bring business that CDNs previously wouldn't have been good candidates to serve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, Crown Castle has now brought fiber spending down significantly, so we no longer think returns on invested capital will fall below the firm's weighted average cost of capital for the bulk of the next 10 years.",
    "output": "[Cause] Crown Castle has now brought fiber spending down significantly [Relation] cause [Effect] we no longer think returns on invested capital will fall below the firm's weighted average cost of capital for the bulk of the next 10 years",
    "gold": "[Cause] Crown Castle has now brought fiber spending down significantly [Relation] cause [Effect]  we no longer think returns on invested capital will fall below the firm's weighted average cost of capital for the bulk of the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Insulet hasn't run into any product recalls, the firm's heavy reliance on the Omnipod product means any potential recall would have a material effect on cash flow in the near term.",
    "output": "[Cause] the firm's heavy reliance on the Omnipod product [Relation] cause [Effect] any potential recall would have a material effect on cash flow in the near term",
    "gold": "[Cause] the firm's heavy reliance on the Omnipod product [Relation] cause [Effect]  any potential recall would have a material effect on cash flow in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Reddy a very high uncertainty rating due to its focus on commodity products in a highly competitive market with peers with significant scale.",
    "output": "[Cause] its focus on commodity products in a highly competitive market with peers with significant scale [Relation] cause [Effect] Reddy a very high uncertainty rating",
    "gold": "[Cause] its focus on commodity products in a highly competitive market with peers with significant scale [Relation] cause [Effect] Reddy a very high uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By providing an even more comprehensive core solution to clients, we think Twilio will reinforce its switching costs, as businesses would have an increased level of reliance on Twilio's software from a communications as well as a data analysis perspective.",
    "output": "[Cause] businesses would have an increased level of reliance on Twilio's software from a communications as well as a data analysis perspective [Relation] cause [Effect] Twilio will reinforce its switching costs",
    "gold": "[Cause] providing an even more comprehensive core solution to clients [Relation] enable [Effect] Twilio will reinforce its switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This highly fragmented industry is consolidating because smaller players cannot compete with the scale of the six public franchise dealerships.",
    "output": "[Cause] smaller players cannot compete with the scale of the six public franchise dealerships [Relation] cause [Effect] This highly fragmented industry is consolidating",
    "gold": "[Cause] smaller players cannot compete with the scale of the six public franchise dealerships [Relation] cause [Effect] This highly fragmented industry is consolidating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect a combination of robust demand and weak supply to push real prices to $65 per pound by 2022, although there is considerable uncertainty around that forecast.",
    "output": "[Cause] robust demand and weak supply [Relation] cause [Effect] push real prices to $65 per pound by 2022",
    "gold": "[Cause]  robust demand and weak supply [Relation] cause [Effect]  push real prices to $65 per pound by 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Large rental properties can have lengthy production cycles, and the company must achieve acceptable occupancy rates to achieve return objectives on build-to-core projects.",
    "output": "[Cause] Large rental properties can have lengthy production cycles [Relation] cause [Effect] the company must achieve acceptable occupancy rates to achieve return objectives on build-to-core projects",
    "gold": "[Cause] Large rental properties can have lengthy production cycles [Relation] cause [Effect] the company must achieve acceptable occupancy rates to achieve return objectives on build-to-core projects",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Research by AC Nielsen indicates that a product's smell and taste is the largest driver of consumer repurchase decisions (at 45% versus only 15% for price).",
    "output": "[Cause] a product's smell and taste [Relation] cause [Effect] consumer repurchase decisions",
    "gold": "[Cause] a product's smell and taste [Relation] cause [Effect] consumer repurchase decisions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its early years as a stand-alone entity have been a success, but we think investors should be cautious, especially as fossil-fuel generation goes out of style.",
    "output": "[Cause] fossil-fuel generation goes out of style [Relation] cause [Effect] investors should be cautious",
    "gold": "[Cause] fossil-fuel generation goes out of style [Relation] cause [Effect]  investors should be cautious",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Palo Alto will generate durable excess economic returns over invested capital by gaining operating leverage throughout the 2020s.",
    "output": "[Cause] gaining operating leverage throughout the 2020s [Relation] enable [Effect] Palo Alto will generate durable excess economic returns over invested capital",
    "gold": "[Cause] gaining operating leverage throughout the 2020s [Relation] enable [Effect]  Palo Alto will generate durable excess economic returns over invested capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through various acquisitions, the firm has transitioned from traditional advertising, which includes print, broadcast and cable television, billboards, and mail, into a complete solutions provider by combining traditional with digital (including online video, social media, and mobile), along with other services such as public relations.",
    "output": "[Cause] various acquisitions [Relation] enable [Effect] the firm has transitioned from traditional advertising, which includes print, broadcast and cable television, billboards, and mail, into a complete solutions provider by combining traditional with digital (including online video, social media, and mobile), along with other services such as public relations",
    "gold": "[Cause] various acquisitions [Relation] enable [Effect] the firm has transitioned from traditional advertising, which includes print, broadcast and cable television, billboards, and mail, into a complete solutions provider by combining traditional with digital (including online video, social media, and mobile), along with other services such as public relations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Vertex has been able to build upon its intellectual property, developing better drug combinations that increasingly capture a greater number of patients with various cystic fibrosis mutations.",
    "output": "[Cause] developing better drug combinations [Relation] enable [Effect] increasingly capture a greater number of patients with various cystic fibrosis mutations",
    "gold": "[Cause] developing better drug combinations [Relation] cause [Effect] increasingly capture a greater number of patients with various cystic fibrosis mutations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite spring store closures, inventory flow challenges, and rising infection rates that threaten fourth-quarter sales, we believe TJX and the rest of the off-price sector are better suited than most retailers to endure the upheaval, with potential for improved merchandise availability as full-price stores struggle.",
    "output": "[Cause] full-price stores struggle [Relation] cause [Effect] potential for improved merchandise availability",
    "gold": "[Cause]  potential for improved merchandise availability as full-price stores struggle [Relation] enable [Effect] TJX and the rest of the off-price sector are better suited than most retailers to endure the upheaval",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "On the international side, we expect increased customer penetration will generate average revenue growth of 14% in Europe, 12% in Latin America, and 21% in the Asia-Pacific through 2025.",
    "output": "[Cause] increased customer penetration [Relation] enable [Effect] average revenue growth of 14% in Europe, 12% in Latin America, and 21% in the Asia-Pacific through 2025",
    "gold": "[Cause] increased customer penetration [Relation] enable [Effect]  average revenue growth of 14% in Europe, 12% in Latin America, and 21% in the Asia-Pacific through 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Though Costco employs roughly 275,000 individuals and risks incurring staff members' ire through wage, discrimination, or unionization disputes, we do not see a significant threat, particularly as Costco has a history of paying store employees at above-market rates.",
    "output": "[Cause] wage, discrimination, or unionization disputes [Relation] cause [Effect] risks incurring staff members' ire",
    "gold": "[Cause] Costco has a history of paying store employees at above-market rates [Relation] cause [Effect] we do not see a significant threat",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Though Costco employs roughly 275,000 individuals and risks incurring staff members' ire through wage, discrimination, or unionization disputes, we do not see a significant threat, particularly as Costco has a history of paying store employees at above-market rates.",
    "output": "[Cause] Costco has a history of paying store employees at above-market rates [Relation] cause [Effect] we do not see a significant threat",
    "gold": "[Cause] wage, discrimination, or unionization disputes [Relation] cause [Effect] risks incurring staff members' ire",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Differences in interest rates between countries also affects foreign exchange rates, so foreign exchange trading will also likely be dampened in the medium term.",
    "output": "[Cause] Differences in interest rates between countries also affects foreign exchange rates [Relation] cause [Effect] foreign exchange trading will also likely be dampened in the medium term",
    "gold": "[Cause] Differences in interest rates between countries also affects foreign exchange rates [Relation] cause [Effect]  foreign exchange trading will also likely be dampened in the medium term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That means providers that work with these Humana plans should be able to generate higher inflows from star-related bonuses with Humana plans going forward than the average plan, which gives providers continued incentive to work with Humana.",
    "output": "[Cause] providers that work with these Humana plans should be able to generate higher inflows from star-related bonuses with Humana plans going forward than the average plan [Relation] enable [Effect] gives providers continued incentive to work with Humana",
    "gold": "[Cause] providers that work with these Humana plans should be able to generate higher inflows from star-related bonuses with Humana plans going forward than the average plan [Relation] cause [Effect] gives providers continued incentive to work with Humana",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, many of Ventas' triple-net leases grow only at inflationary levels as they are frequently tied to the Consumer Price Index (though often have floors of 2% and ceilings of 3%).",
    "output": "[Cause] they are frequently tied to the Consumer Price Index (though often have floors of 2% and ceilings of 3%) [Relation] cause [Effect] many of Ventas' triple-net leases grow only at inflationary levels",
    "gold": "[Cause] they are frequently tied to the Consumer Price Index (though often have floors of 2% and ceilings of 3%) [Relation] cause [Effect] many of Ventas' triple-net leases grow only at inflationary levels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the infection prevention capital and service side, once equipment like sterilizers and washers is sold, customers are locked in to using Steris for routine service and consumables through the life of the product.",
    "output": "[Cause] equipment like sterilizers and washers is sold [Relation] cause [Effect] customers are locked in to using Steris for routine service and consumables through the life of the product",
    "gold": "[Cause] equipment like sterilizers and washers is sold [Relation] cause [Effect] customers are locked in to using Steris for routine service and consumables through the life of the product",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Jones Lang LaSalle's reputation also allows it to attract major multinational clients in its property and facility management business.",
    "output": "[Cause] Jones Lang LaSalle's reputation [Relation] enable [Effect] it to attract major multinational clients in its property and facility management business",
    "gold": "[Cause] Jones Lang LaSalle's reputation [Relation] enable [Effect] it to attract major multinational clients in its property and facility management business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While low interest rates have kept debt servicing ratios more controlled, this does put the economy in a riskier position.",
    "output": "[Cause] low interest rates have kept debt servicing ratios more controlled [Relation] cause [Effect] put the economy in a riskier position",
    "gold": "[Cause]  low interest rates have kept debt servicing ratios more controlled [Relation] cause [Effect]  put the economy in a riskier position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Offshore wind investments add to our earnings forecasts starting in 2023, resulting in a jump in consolidated earnings growth in 2024 and 2025.",
    "output": "[Cause] Offshore wind investments add to our earnings forecasts starting in 2023 [Relation] cause [Effect] a jump in consolidated earnings growth in 2024 and 2025",
    "gold": "[Cause] Offshore wind investments add to our earnings forecasts starting in 2023 [Relation] cause [Effect]  a jump in consolidated earnings growth in 2024 and 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the adoption of high-low pricing has worked well in the previous years, as evidenced by the company's leading market position and margins, but that it was mainly a function of a less mature market.",
    "output": "[Cause] the company's leading market position and margins [Relation] enable [Effect] the adoption of high-low pricing has worked well in the previous years",
    "gold": "[Cause] a function of a less mature market [Relation] cause [Effect] the company's leading market position and margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the adoption of high-low pricing has worked well in the previous years, as evidenced by the company's leading market position and margins, but that it was mainly a function of a less mature market.",
    "output": "[Cause] a function of a less mature market [Relation] cause [Effect] the adoption of high-low pricing has worked well in the previous years",
    "gold": "[Cause] the company's leading market position and margins [Relation] enable [Effect] the adoption of high-low pricing has worked well in the previous years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the spread has narrowed, we expect it to remain wider than historical levels (before 2010), when WTI and Brent traded close to par, due to transportation costs to move light crude from the midcontinent to the Gulf Coast.",
    "output": "[Cause] transportation costs to move light crude from the midcontinent to the Gulf Coast [Relation] cause [Effect] WTI and Brent traded close to par",
    "gold": "[Cause] transportation costs to move light crude from the midcontinent to the Gulf Coast [Relation] cause [Effect] WTI and Brent traded close to par",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As we are wary of the potential of these markets, we do not view Gap's stated goal of 2,000 Old Navy stores in North America as reasonable.",
    "output": "[Cause] we are wary of the potential of these markets [Relation] cause [Effect] we do not view Gap's stated goal of 2,000 Old Navy stores in North America as reasonable",
    "gold": "[Cause] we are wary of the potential of these markets [Relation] cause [Effect] we do not view Gap's stated goal of 2,000 Old Navy stores in North America as reasonable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If a sales decline lasts longer than predicted, Winnebago's financial health is likely to suffer because the firm could take on more debt or issue equity.",
    "output": "[Cause] the firm could take on more debt or issue equity [Relation] cause [Effect] If a sales decline lasts longer than predicted, Winnebago's financial health is likely to suffer",
    "gold": "[Cause] a sales decline lasts longer than predicted [Relation] cause [Effect] the firm could take on more debt or issue equity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think switching costs, furthermore, are evident in Instron's higher-margin service and parts revenue, which constitute about 37% of 2018 sales.",
    "output": "[Cause] switching costs [Relation] cause [Effect] Instron's higher-margin service and parts revenue",
    "gold": "[Cause] We think switching costs, furthermore, are evident in Instron's higher-margin service and parts revenue [Relation] enable [Effect] which constitute about 37% of 2018 sales",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Mettler places an intense focus on sales and marketing and has leveraged its Spinnaker and Stern Drive programs to operate with high efficiency and maintain strong customer retention.",
    "output": "[Cause] leveraged its Spinnaker and Stern Drive programs [Relation] enable [Effect] operate with high efficiency and maintain strong customer retention",
    "gold": "[Cause] leveraged its Spinnaker and Stern Drive programs [Relation] enable [Effect] operate with high efficiency and maintain strong customer retention",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Notably, the company's large agricultural equipment command premium pricing due to the value added from its product features and technological capabilities (boosts farmer productivity).",
    "output": "[Cause] the value added from its product features and technological capabilities [Relation] cause [Effect] the company's large agricultural equipment command premium pricing",
    "gold": "[Cause]  the value added from its product features and technological capabilities [Relation] cause [Effect]  the company's large agricultural equipment command premium pricing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nonperforming loan ratios steadily declined for almost all Japanese banks in the 2010s as interest rates following many years of relatively slow credit growth.",
    "output": "[Cause] interest rates following many years of relatively slow credit growth [Relation] cause [Effect] Nonperforming loan ratios steadily declined for almost all Japanese banks in the 2010s",
    "gold": "[Cause] interest rates following many years of relatively slow credit growth [Relation] cause [Effect] Nonperforming loan ratios steadily declined for almost all Japanese banks in the 2010s",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Eni's overall strategy mirrors many of its peers as it relies on a rapidly growing renewable power generation business.",
    "output": "[Cause] it relies on a rapidly growing renewable power generation business [Relation] cause [Effect] Eni's overall strategy mirrors many of its peers",
    "gold": "[Cause] it relies on a rapidly growing renewable power generation business [Relation] cause [Effect] Eni's overall strategy mirrors many of its peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect prudent cost control measures, combined with the pace of revenue growth, to expand GAAP operating margin beyond breakeven in 2023 versus the 23% loss in 2019 (non-GAAP operating margin increasing beyond 20% versus 1% in 2019).",
    "output": "[Cause] prudent cost control measures [Relation] enable [Effect] expand GAAP operating margin beyond breakeven in 2023 versus the 23% loss in 2019",
    "gold": "[Cause] prudent cost control measures [Relation] cause [Effect] expand GAAP operating margin beyond breakeven in 2023 versus the 23% loss in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With total cost of ownership being lower for SSDs in many PC applications, we anticipate a sustained decline in annual HDD sales as SSDs further increase share.",
    "output": "[Cause] total cost of ownership being lower for SSDs in many PC applications [Relation] cause [Effect] a sustained decline in annual HDD sales as SSDs further increase share",
    "gold": "[Cause]  total cost of ownership being lower for SSDs in many PC applications [Relation] cause [Effect]  a sustained decline in annual HDD sales as SSDs further increase share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Currently, such products already exhibit a high degree of switching costs as they help support the functions of entire departments--replacing the software would be time-consuming, expensive, and prohibitive to smooth business functioning.",
    "output": "[Cause] they help support the functions of entire departments [Relation] cause [Effect] such products already exhibit a high degree of switching costs",
    "gold": "[Cause] they help support the functions of entire departments [Relation] enable [Effect] such products already exhibit a high degree of switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think interconnection is the key that makes co-located data centers much more valuable than simple leasable real estate.",
    "output": "[Cause] interconnection [Relation] enable [Effect] makes co-located data centers much more valuable than simple leasable real estate",
    "gold": "[Cause] interconnection [Relation] enable [Effect] makes co-located data centers much more valuable than simple leasable real estate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By offering consistent parts availability and an extensive service offering, manufacturers help customers stay on the road by limiting vehicle down-time.",
    "output": "[Cause] offering consistent parts availability and an extensive service offering [Relation] enable [Effect] manufacturers help customers stay on the road",
    "gold": "[Cause] limiting vehicle down-time [Relation] enable [Effect] help customers stay on the road",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "By offering consistent parts availability and an extensive service offering, manufacturers help customers stay on the road by limiting vehicle down-time.",
    "output": "[Cause] limiting vehicle down-time [Relation] enable [Effect] manufacturers help customers stay on the road",
    "gold": "[Cause] offering consistent parts availability and an extensive service offering [Relation] enable [Effect] manufacturers help customers stay on the road",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As global potash demand continues to grow, we expect Nutrien to increase production accordingly to maintain its current market share in the high teens.",
    "output": "[Cause] global potash demand continues to grow [Relation] cause [Effect] Nutrien to increase production accordingly to maintain its current market share in the high teens",
    "gold": "[Cause] global potash demand continues to grow [Relation] cause [Effect] Nutrien to increase production accordingly to maintain its current market share in the high teens",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we expect these costs to remain above prepandemic levels as Myriad plans to break into the primary care market with GeneSight by aggressively expanding its salesforce.",
    "output": "[Cause] aggressively expanding its salesforce [Relation] enable [Effect] Myriad plans to break into the primary care market with GeneSight",
    "gold": "[Cause] as Myriad plans to break into the primary care market with GeneSight by aggressively expanding its salesforce [Relation] cause [Effect] we expect these costs to remain above prepandemic levels",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, lower-income motorists at the core of the (more lucrative) DIY segment have fewer work-from-home opportunities, which we believe contributed to the segment's recent surge, and the professional sector is recovering as infection rates have fallen.",
    "output": "[Cause] infection rates have fallen [Relation] cause [Effect] the professional sector is recovering",
    "gold": "[Cause] infection rates have fallen [Relation] enable [Effect]  the professional sector is recovering",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, lower-income motorists at the core of the (more lucrative) DIY segment have fewer work-from-home opportunities, which we believe contributed to the segment's recent surge, and the professional sector is recovering as infection rates have fallen.",
    "output": "[Cause] infection rates have fallen [Relation] cause [Effect] the professional sector is recovering",
    "gold": "[Cause] lower-income motorists at the core of the (more lucrative) DIY segment have fewer work-from-home opportunities [Relation] enable [Effect] contributed to the segment's recent surg",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our production forecast assumes volumes remain at about 3.4 mmboe/d, including Rosneft, through 2025, although given management's divestment plan actual volumes are likely to be lower.",
    "output": "[Cause] management's divestment plan [Relation] cause [Effect] actual volumes are likely to be lower",
    "gold": "[Cause] Our production forecast assumes [Relation] enable [Effect] actual volumes are likely to be lower",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our production forecast assumes volumes remain at about 3.4 mmboe/d, including Rosneft, through 2025, although given management's divestment plan actual volumes are likely to be lower.",
    "output": "[Cause] management's divestment plan [Relation] cause [Effect] actual volumes are likely to be lower",
    "gold": "[Cause] management's divestment plan [Relation] enable [Effect] actual volumes are likely to be lower",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project adjusted operating margins expanding from roughly 7% in fiscal 2020 to around 9.5% by fiscal 2025, which reflects mix shift toward higher-margin consulting services, margin accretion and cost synergies from recent acquisitions, and benefits from management's SG&A cost reduction plan.",
    "output": "[Cause] management's SG&A cost reduction plan [Relation] cause [Effect] adjusted operating margins expanding from roughly 7% in fiscal 2020 to around 9.5% by fiscal 2025",
    "gold": "[Cause] recent acquisitions [Relation] cause [Effect] margin accretion and cost synergies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We project adjusted operating margins expanding from roughly 7% in fiscal 2020 to around 9.5% by fiscal 2025, which reflects mix shift toward higher-margin consulting services, margin accretion and cost synergies from recent acquisitions, and benefits from management's SG&A cost reduction plan.",
    "output": "[Cause] management's SG&A cost reduction plan [Relation] cause [Effect] adjusted operating margins expanding from roughly 7% in fiscal 2020 to around 9.5% by fiscal 2025",
    "gold": "[Cause] margin accretion and cost synergies from recent acquisitions [Relation] cause [Effect] adjusted operating margins expanding from roughly 7% in fiscal 2020 to around 9.5% by fiscal 2025",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We project adjusted operating margins expanding from roughly 7% in fiscal 2020 to around 9.5% by fiscal 2025, which reflects mix shift toward higher-margin consulting services, margin accretion and cost synergies from recent acquisitions, and benefits from management's SG&A cost reduction plan.",
    "output": "[Cause] management's SG&A cost reduction plan [Relation] cause [Effect] adjusted operating margins expanding from roughly 7% in fiscal 2020 to around 9.5% by fiscal 2025",
    "gold": "[Cause] mix shift toward higher-margin consulting services [Relation] cause [Effect] adjusted operating margins expanding from roughly 7% in fiscal 2020 to around 9.5% by fiscal 2025",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If Enterprise chooses to fund half of its capital spending plans with debt, excess cash available for buying back units would easily surpass $1 billion annually.",
    "output": "[Cause] Enterprise chooses to fund half of its capital spending plans with debt [Relation] cause [Effect] excess cash available for buying back units would easily surpass $1 billion annually",
    "gold": "[Cause] Enterprise chooses to fund half of its capital spending plans with debt [Relation] enable [Effect] excess cash available for buying back units would easily surpass $1 billion annually",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're expecting net capital expenditures to be about $1.4 billion in 2021, as the airline is financing all its aircraft deliveries to reduce cash burn.",
    "output": "[Cause] the airline is financing all its aircraft deliveries [Relation] cause [Effect] reduce cash burn",
    "gold": "[Cause] the airline is financing all its aircraft deliveries [Relation] enable [Effect]  net capital expenditures to be about $1.4 billion in 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We're expecting net capital expenditures to be about $1.4 billion in 2021, as the airline is financing all its aircraft deliveries to reduce cash burn.",
    "output": "[Cause] reduce cash burn [Relation] cause [Effect] net capital expenditures to be about $1.4 billion in 2021",
    "gold": "[Cause] the airline is financing all its aircraft deliveries [Relation] enable [Effect]  reduce cash burn",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Margins should also benefit from increased usage of cost-advantaged feedstock with the opening of new pipeline access, a recent refinery expansion, and growing domestic production.",
    "output": "[Cause] the opening of new pipeline access, a recent refinery expansion, and growing domestic production [Relation] enable [Effect] Margins should also benefit from increased usage of cost-advantaged feedstock",
    "gold": "[Cause] the opening of new pipeline access, a recent refinery expansion, and growing domestic production [Relation] enable [Effect] Margins should also benefit from increased usage of cost-advantaged feedstock",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, it's investing heavily in both its digital and brick-and-mortar platforms, revamping the website for a more frictionless checkout process and remodeling its physical stores to create a cleaner and more enjoyable shopping experience.",
    "output": "[Cause] remodeling its physical stores [Relation] enable [Effect] create a cleaner and more enjoyable shopping experience",
    "gold": "[Cause] remodeling its physical stores [Relation] cause [Effect] create a cleaner and more enjoyable shopping experience",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project 7% average sales growth over the next five years, supported by 7% average same-store sales increases and helped by offerings like buy online/pickup in-store and better merchandising, which drives market share gains.",
    "output": "[Cause] 7% average same-store sales increases and helped by offerings like buy online/pickup in-store and better merchandising [Relation] enable [Effect] 7% average sales growth over the next five years",
    "gold": "[Cause] supported by 7% average same-store sales increases and helped by offerings like buy online/pickup in-store and better merchandising [Relation] cause [Effect] drives market share gains",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, the bank has a number of strong commercial relationships where deposit pricing can be made in the context of the total relationship.",
    "output": "[Cause] deposit pricing can be made in the context of the total relationship [Relation] enable [Effect] the bank has a number of strong commercial relationships",
    "gold": "[Cause] the bank has a number of strong commercial relationships [Relation] cause [Effect] deposit pricing can be made in the context of the total relationship",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As a cable company operating a hybrid fiber-coax network, Rogers has historically had a quality edge on BCE and its legacy copper network.",
    "output": "[Cause] a cable company operating a hybrid fiber-coax network [Relation] cause [Effect] Rogers has historically had a quality edge on BCE and its legacy copper network",
    "gold": "[Cause] a cable company operating a hybrid fiber-coax network [Relation] cause [Effect] Rogers has historically had a quality edge on BCE and its legacy copper network",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we don't think any of them form a sustainable competitive advantage for CyrusOne, and we think the company is more likely than those peers to suffer if the favorable data center environment we have seen in recent years wanes.",
    "output": "[Cause] the favorable data center environment we have seen in recent years wanes [Relation] cause [Effect] the company is more likely than those peers to suffer",
    "gold": "[Cause] the favorable data center environment we have seen in recent years wanes [Relation] cause [Effect]  the company is more likely than those peers to suffer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think this led IBM's customer base to further entrench their enterprise with IBM offerings due to the ease of a main IT services provider and the surety of IT functions having interoperability.",
    "output": "[Cause] the ease of a main IT services provider and the surety of IT functions having interoperability [Relation] cause [Effect] IBM's customer base to further entrench their enterprise with IBM offerings",
    "gold": "[Cause]  the ease of a main IT services provider and the surety of IT functions having interoperability [Relation] cause [Effect] IBM's customer base to further entrench their enterprise with IBM offerings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's capital expenditure fell to CNY 42 billion in 2017 and CNY 45 billion in 2018 given its high capital expenditure over 2015 and 2016 and network utilization of less than 20% at the end of 2016.",
    "output": "[Cause] its high capital expenditure over 2015 and 2016 and network utilization of less than 20% at the end of 2016 [Relation] cause [Effect] The company's capital expenditure fell to CNY 42 billion in 2017 and CNY 45 billion in 2018",
    "gold": "[Cause]  its high capital expenditure over 2015 and 2016 and network utilization of less than 20% at the end of 2016 [Relation] cause [Effect] The company's capital expenditure fell to CNY 42 billion in 2017 and CNY 45 billion in 2018",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ITSM and ITOM together have declined steadily from 95% of revenue in 2013 to approximately 61% in 2018, underscoring the company's broadening portfolio.",
    "output": "[Cause] ITSM and ITOM together have declined steadily from 95% of revenue in 2013 to approximately 61% in 2018 [Relation] cause [Effect] the company's broadening portfolio",
    "gold": "[Cause] ITSM and ITOM together have declined steadily from 95% of revenue in 2013 to approximately 61% in 2018 [Relation] cause [Effect] the company's broadening portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, we think this division's solid growth prospects combined with intangible assets and the switching costs associated with its large installed base contribute to Agilent's sustainable competitive advantages.",
    "output": "[Cause] this division's solid growth prospects combined with intangible assets and the switching costs associated with its large installed base [Relation] enable [Effect] Agilent's sustainable competitive advantages",
    "gold": "[Cause] this division's solid growth prospects combined with intangible assets and the switching costs associated with its large installed base [Relation] cause [Effect] Agilent's sustainable competitive advantages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Less densely populated areas are far less conducive to small cells, so if small cells become a viable alternative for some towers, we expect it to be mostly in urban areas for the foreseeable future.",
    "output": "[Cause] Less densely populated areas are far less conducive to small cells [Relation] cause [Effect] if small cells become a viable alternative for some towers, we expect it to be mostly in urban areas for the foreseeable future",
    "gold": "[Cause] Less densely populated areas are far less conducive to small cells [Relation] cause [Effect]  if small cells become a viable alternative for some towers, we expect it to be mostly in urban areas for the foreseeable future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Teleflex will benefit from an aging population requiring more interventional products such as vascular access devices, which are used in 90% of hospital stays, and implants such as UroLift for prostate gland enlargement, which affects half of men over 50.",
    "output": "[Cause] an aging population requiring more interventional products such as vascular access devices, which are used in 90% of hospital stays, and implants such as UroLift for prostate gland enlargement [Relation] cause [Effect] Teleflex will benefit",
    "gold": "[Cause] an aging population requiring more interventional products such as vascular access devices, which are used in 90% of hospital stays, and implants such as UroLift for prostate gland enlargement [Relation] cause [Effect]  Teleflex will benefit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect non-GAAP operating margins to increase from 9.2% in 2019 (actual) to the midteens area in 2024 as the company benefits from operating leverage and the full transition to subscriptions.",
    "output": "[Cause] the company benefits from operating leverage and the full transition to subscriptions [Relation] cause [Effect] non-GAAP operating margins to increase from 9.2% in 2019 (actual) to the midteens area in 2024",
    "gold": "[Cause] the company benefits from operating leverage and the full transition to subscriptions [Relation] cause [Effect] non-GAAP operating margins to increase from 9.2% in 2019 (actual) to the midteens area in 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Considering the life cycle of around 10 years for most construction and mining machinery, good product quality limits the failure rate and enables easy operations.",
    "output": "[Cause] the life cycle of around 10 years for most construction and mining machinery [Relation] cause [Effect] good product quality limits the failure rate",
    "gold": "[Cause] good product quality [Relation] prevent [Effect] the failure rate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Considering the life cycle of around 10 years for most construction and mining machinery, good product quality limits the failure rate and enables easy operations.",
    "output": "[Cause] good product quality [Relation] enable [Effect] easy operations",
    "gold": "[Cause] good product quality [Relation] enable [Effect] easy operations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Globalization of businesses in various verticals has increased demand not only for vertical-specific advertising expertise, but also for experience and clearer understanding of different cultures and regulations within the geographic regions in which businesses want to market and sell their products. For this reason, WPP and the other largest ad holding companies have consistently acquired smaller local ad agencies and quickly gained traction in other international markets.",
    "output": "[Cause] Globalization of businesses in various verticals has increased demand not only for vertical-specific advertising expertise, but also for experience and clearer understanding of different cultures and regulations within the geographic regions in which businesses want to market and sell their products [Relation] cause [Effect] WPP and the other largest ad holding companies have consistently acquired smaller local ad agencies and quickly gained traction in other international markets",
    "gold": "[Cause] Globalization of businesses in various verticals has increased demand not only for vertical-specific advertising expertise, but also for experience and clearer understanding of different cultures and regulations within the geographic regions in which businesses want to market and sell their products [Relation] cause [Effect] WPP and the other largest ad holding companies have consistently acquired smaller local ad agencies and quickly gained traction in other international markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through its large Gulf Coast footprint, Valero is able to export surplus product, a critical advantage as it supports high utilization levels and potentially captures higher margins.",
    "output": "[Cause] its large Gulf Coast footprint [Relation] enable [Effect] Valero is able to export surplus product",
    "gold": "[Cause] its large Gulf Coast footprint [Relation] enable [Effect] Valero is able to export surplus product",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through its large Gulf Coast footprint, Valero is able to export surplus product, a critical advantage as it supports high utilization levels and potentially captures higher margins.",
    "output": "[Cause] it supports high utilization levels and potentially captures higher margins [Relation] enable [Effect] Valero is able to export surplus product",
    "gold": "[Cause] it supports high utilization levels and potentially captures higher margins [Relation] enable [Effect] a critical advantage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe that the continuous increase in student enrolment of after-school tutoring are primarily attributable to increasing middle classes in China, where parents are willing to spend 20% to 50% of their disposal income on Children's education.",
    "output": "[Cause] increasing middle classes in China [Relation] cause [Effect] the continuous increase in student enrolment of after-school tutoring",
    "gold": "[Cause] increasing middle classes in China [Relation] cause [Effect] the continuous increase in student enrolment of after-school tutoring",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the company to take a step back in terms of profitability in 2020 due to the impact of the coronavirus on claims and capital market conditions.",
    "output": "[Cause] the impact of the coronavirus on claims and capital market conditions [Relation] cause [Effect] the company to take a step back in terms of profitability in 2020",
    "gold": "[Cause] the impact of the coronavirus on claims and capital market conditions [Relation] cause [Effect]  the company to take a step back in terms of profitability in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, Mizuho has since moderated the overseas growth in order to better manage risks and conserve capital, recording only slight growth outside Japan since March 2016.",
    "output": "[Cause] Mizuho has since moderated the overseas growth [Relation] enable [Effect] better manage risks and conserve capital",
    "gold": "[Cause] manage risks and conserve capital [Relation] cause [Effect] Mizuho has since moderated the overseas growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our opinion, growth in Chrome browser usage helps increase the network effect for Google; again, the network is monetized via sales of various online ads.",
    "output": "[Cause] growth in Chrome browser usage [Relation] enable [Effect] increase the network effect for Google",
    "gold": "[Cause] growth in Chrome browser usage [Relation] enable [Effect] increase the network effect for Google",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our opinion, growth in Chrome browser usage helps increase the network effect for Google; again, the network is monetized via sales of various online ads.",
    "output": "[Cause] sales of various online ads [Relation] enable [Effect] the network is monetized",
    "gold": "[Cause] sales of various online ads [Relation] enable [Effect] the network is monetized",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The risk from carbon emissions is most likely to materialize through a carbon tax, which increases the price of end products to consumers, reducing demand over time and threatening Equinor's hydrocarbon business.",
    "output": "[Cause] The risk from carbon emissions is most likely to materialize through a carbon tax [Relation] cause [Effect] increases the price of end products to consumers, reducing demand over time and threatening Equinor's hydrocarbon business",
    "gold": "[Cause] a carbon tax, which increases the price of end products to consumers, reducing demand over time and threatening Equinor's hydrocarbon business [Relation] enable [Effect] The risk from carbon emissions is most likely to materialize",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Low-cost yet high-quality production facilities, such as in Tenaris' Mexico operations, enable the company to profitably supply OCTG in most world markets, including the crucial United States market.",
    "output": "[Cause] Low-cost yet high-quality production facilities, such as in Tenaris' Mexico operations [Relation] enable [Effect] the company to profitably supply OCTG in most world markets, including the crucial United States market",
    "gold": "[Cause] Low-cost yet high-quality production facilities, such as in Tenaris' Mexico operations [Relation] enable [Effect] the company to profitably supply OCTG in most world markets, including the crucial United States market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our expectations would continue a historical trend as Workday has already gone from services constituting 34% of revenue in fiscal 2012 to 12% in fiscal 2021.",
    "output": "[Cause] Workday has already gone from services constituting 34% of revenue in fiscal 2012 to 12% in fiscal 2021 [Relation] cause [Effect] Our expectations would continue a historical trend",
    "gold": "[Cause] Workday has already gone from services constituting 34% of revenue in fiscal 2012 to 12% in fiscal 2021 [Relation] cause [Effect] Our expectations would continue a historical trend",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also think security will require continued vigilance, spawning the opportunity for security providers to sell a greater number of more advanced products.",
    "output": "[Cause] security will require continued vigilance [Relation] cause [Effect] spawning the opportunity for security providers to sell a greater number of more advanced products",
    "gold": "[Cause] security will require continued vigilance [Relation] enable [Effect] spawning the opportunity for security providers to sell a greater number of more advanced products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of the nature of the type of lending that Capital One does, the company is at risk for rising credit costs.",
    "output": "[Cause] the nature of the type of lending that Capital One does [Relation] cause [Effect] the company is at risk for rising credit costs",
    "gold": "[Cause] the nature of the type of lending that Capital One does [Relation] cause [Effect] the company is at risk for rising credit costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, if these efforts were to demonstrate the technology as a value-based proposition for governments or public safety officials, it could initiate technological change at a faster rate than previously anticipated.",
    "output": "[Cause] these efforts were to demonstrate the technology as a value-based proposition for governments or public safety officials [Relation] cause [Effect] initiate technological change at a faster rate than previously anticipated",
    "gold": "[Cause] these efforts were to demonstrate the technology as a value-based proposition for governments or public safety officials [Relation] cause [Effect] initiate technological change at a faster rate than previously anticipated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The cycle can swing year to year from tight capacity to overcapacity based on global economic activity, reducing new truck orders.",
    "output": "[Cause] The cycle can swing year to year from tight capacity to overcapacity based on global economic activity [Relation] cause [Effect] reducing new truck orders",
    "gold": "[Cause] The cycle can swing year to year from tight capacity to overcapacity based on global economic activity [Relation] enable [Effect] reducing new truck orders",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Public and mutual banks in Germany follow a regional principle ruling out competition among member banks, while back-office infrastructures are shared to reduce costs.",
    "output": "[Cause] Public and mutual banks in Germany follow a regional principle ruling out competition among member banks, while back-office infrastructures are shared [Relation] enable [Effect] reduce costs",
    "gold": "[Cause] Public and mutual banks in Germany follow a regional principle ruling out competition among member banks, while back-office infrastructures are shared [Relation] enable [Effect] reduce costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Specifically, displacing the use of an established diagnostic platform can be challenging for competitors since labs are hesitant to disrupt systems that are integrated into their practices, and pathologists can be particularly loyal influencers on diagnostic platforms.",
    "output": "[Cause] labs are hesitant to disrupt systems that are integrated into their practices, and pathologists can be particularly loyal influencers on diagnostic platforms [Relation] cause [Effect] displacing the use of an established diagnostic platform can be challenging for competitors",
    "gold": "[Cause] labs are hesitant to disrupt systems that are integrated into their practices, and pathologists can be particularly loyal influencers on diagnostic platforms [Relation] cause [Effect] displacing the use of an established diagnostic platform can be challenging for competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We don't think cloud providers want to compete in a retail colocation business, considering the difficulty we believe they'd have in mimicking a similar network of customers, but they could use their leverage to extract concessions.",
    "output": "[Cause] the difficulty we believe they'd have in mimicking a similar network of customers [Relation] cause [Effect] We don't think cloud providers want to compete in a retail colocation business",
    "gold": "[Cause] We don't think cloud providers want to compete in a retail colocation business [Relation] prevent [Effect] we believe they'd have in mimicking a similar network of customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The segment's operating margins have been challenged over the past decade due weak pricing, but we think CNH Industrial's work to become a leader in liquified natural gas-powered trucks could present an opportunity to raise pricing.",
    "output": "[Cause] weak pricing [Relation] cause [Effect] The segment's operating margins have been challenged over the past decade",
    "gold": "[Cause]  CNH Industrial's work to become a leader in liquified natural gas-powered trucks [Relation] enable [Effect] present an opportunity to raise pricing",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Switching costs stem from the fact that, when these proprietary formulations are used by consumer packaged goods customers for food and beverages, buyers are often unwilling to jeopardize the brand equity of their products by switching to alternative solutions that consumers might reject.",
    "output": "[Cause] switching to alternative solutions that consumers might reject [Relation] cause [Effect] buyers are often unwilling to jeopardize the brand equity of their products",
    "gold": "[Cause] these proprietary formulations are used by consumer packaged goods customers for food and beverages [Relation] cause [Effect] buyers are often unwilling to jeopardize the brand equity of their products by switching to alternative solutions that consumers might reject",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Historically, banks could only write off bad loans over five years for tax purposes, which further incentivised banks to keep bad loans on their books.",
    "output": "[Cause] banks could only write off bad loans over five years for tax purposes [Relation] cause [Effect] banks to keep bad loans on their books",
    "gold": "[Cause] banks could only write off bad loans over five years for tax purposes [Relation] enable [Effect] banks to keep bad loans on their books",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, the company can procure capacity at lower rates than shippers could generally obtain directly with carriers, thereby providing customers with opportunities for material cost savings.",
    "output": "[Cause] the company can procure capacity at lower rates than shippers could generally obtain directly with carriers [Relation] cause [Effect] providing customers with opportunities for material cost savings",
    "gold": "[Cause] the company can procure capacity at lower rates than shippers could generally obtain directly with carriers [Relation] enable [Effect] providing customers with opportunities for material cost savings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Johnson Controls' scale-driven cost advantage within its branch network could strengthen relative to competitors as the company integrates legacy building efficiency and Tyco branch networks.",
    "output": "[Cause] the company integrates legacy building efficiency and Tyco branch networks [Relation] cause [Effect] Johnson Controls' scale-driven cost advantage within its branch network could strengthen relative to competitors",
    "gold": "[Cause] the company integrates legacy building efficiency and Tyco branch networks [Relation] enable [Effect] Johnson Controls' scale-driven cost advantage within its branch network could strengthen relative to competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate Spirit will be among the final aerospace and defense companies to recover from the pandemic as Boeing clears its working capital before ordering new shipsets.",
    "output": "[Cause] Boeing clears its working capital before ordering new shipsets [Relation] cause [Effect] We anticipate Spirit will be among the final aerospace and defense companies to recover from the pandemic",
    "gold": "[Cause] Boeing clears its working capital before ordering new shipsets [Relation] enable [Effect] We anticipate Spirit will be among the final aerospace and defense companies to recover from the pandemic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Forecasting the nontelecom businesses is extremely difficult, as SK Planet, which focuses on e-commerce, comprises a large part of these investments.",
    "output": "[Cause] SK Planet, which focuses on e-commerce, comprises a large part of these investments [Relation] cause [Effect] Forecasting the nontelecom businesses is extremely difficult",
    "gold": "[Cause] SK Planet, which focuses on e-commerce, comprises a large part of these investments [Relation] cause [Effect] Forecasting the nontelecom businesses is extremely difficult",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect continued acquisition and disposition activity as Aimco recycles capital, repositions its portfolio, and improves the overall quality of its assets.",
    "output": "[Cause] Aimco recycles capital, repositions its portfolio, and improves the overall quality of its assets [Relation] cause [Effect] continued acquisition and disposition activity",
    "gold": "[Cause] Aimco recycles capital, repositions its portfolio, and improves the overall quality of its assets [Relation] enable [Effect] continued acquisition and disposition activity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This is because flash and SSD players like Western Digital and Samsung have their own lineups of controller products, which has allowed them to continually augment their SSD portfolio.",
    "output": "[Cause] flash and SSD players like Western Digital and Samsung have their own lineups of controller products [Relation] enable [Effect] continually augment their SSD portfolio",
    "gold": "[Cause]  flash and SSD players like Western Digital and Samsung have their own lineups of controller products [Relation] enable [Effect] continually augment their SSD portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At this point we believe this cash cow business could be a potential source of disappointment if it were to begin to more rapidly deteriorate, which is not contemplated in our model.",
    "output": "[Cause] it were to begin to more rapidly deteriorate [Relation] cause [Effect] this cash cow business could be a potential source of disappointment",
    "gold": "[Cause]  it were to begin to more rapidly deteriorate [Relation] cause [Effect]  this cash cow business could be a potential source of disappointment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Though Essex has a strong balance sheet and we expect management to continue to exhibit careful but strategic capital stewardship, we believe that high supply limits the upside to the company's internal growth, and the company's exposure to the volatile tech industry presents real downside risk.",
    "output": "[Cause] high supply [Relation] prevent [Effect] the upside to the company's internal growth",
    "gold": "[Cause] high supply [Relation] prevent [Effect] the upside to the company's internal growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The utility continues to receive support for electric transmission and gas distribution investment with timely cost-recovery mechanisms that limit regulatory lag.",
    "output": "[Cause] timely cost-recovery mechanisms [Relation] enable [Effect] The utility continues to receive support for electric transmission and gas distribution investment",
    "gold": "[Cause]  electric transmission and gas distribution investment [Relation] enable [Effect] The utility continues to receive support",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A profit-sharing agreement for the supply chain segment serves to align incentives, with $169 million distributed to participating franchisees in 2020--implying that roughly 75% of units participated in the long-term shared-ownership arrangement.",
    "output": "[Cause] A profit-sharing agreement for the supply chain segment serves to align incentives, with $169 million distributed to participating franchisees in 2020 [Relation] enable [Effect] roughly 75% of units participated in the long-term shared-ownership arrangement",
    "gold": "[Cause] A profit-sharing agreement for the supply chain segment [Relation] enable [Effect] serves to align incentives",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With demand for most products likely to soften with the end of the China boom, and BHP's fiscal 2021 earning back near the fiscal 2011-12 peak, we think the outlook is for earnings to materially decline, with iron ore the likely key driver.",
    "output": "[Cause] demand for most products likely to soften with the end of the China boom [Relation] cause [Effect] BHP's fiscal 2021 earning back near the fiscal 2011-12 peak",
    "gold": "[Cause] the end of the China boom [Relation] cause [Effect]  demand for most products likely to soften",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With demand for most products likely to soften with the end of the China boom, and BHP's fiscal 2021 earning back near the fiscal 2011-12 peak, we think the outlook is for earnings to materially decline, with iron ore the likely key driver.",
    "output": "[Cause] demand for most products likely to soften with the end of the China boom, and BHP's fiscal 2021 earning back near the fiscal 2011-12 peak [Relation] cause [Effect] the outlook is for earnings to materially decline",
    "gold": "[Cause] With demand for most products likely to soften with the end of the China boom [Relation] cause [Effect] BHP's fiscal 2021 earning back near the fiscal 2011-12 peak",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With demand for most products likely to soften with the end of the China boom, and BHP's fiscal 2021 earning back near the fiscal 2011-12 peak, we think the outlook is for earnings to materially decline, with iron ore the likely key driver.",
    "output": "[Cause] demand for most products likely to soften with the end of the China boom [Relation] cause [Effect] the outlook is for earnings to materially decline",
    "gold": "[Cause] iron ore the likely key driver [Relation] cause [Effect] the outlook is for earnings to materially decline",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, potential new competitive entrants are dissuaded from entering the market because doing so would depress returns for all players.",
    "output": "[Cause] doing so would depress returns for all players [Relation] cause [Effect] potential new competitive entrants are dissuaded from entering the market",
    "gold": "[Cause] doing so would depress returns for all players [Relation] cause [Effect] potential new competitive entrants are dissuaded from entering the market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The growth in users and user engagement, along with the valuable data that they generate, makes Facebook attractive to advertisers in the short and long term.",
    "output": "[Cause] The growth in users and user engagement, along with the valuable data that they generate [Relation] enable [Effect] Facebook attractive to advertisers in the short and long term",
    "gold": "[Cause] The growth in users and user engagement, along with the valuable data that they generate [Relation] enable [Effect] Facebook attractive to advertisers in the short and long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the Williston Basin, there is also substantial upside for Oneok in terms of capturing now-flared gas, as Oneok has about 250-300 million cubic feet per day of spare gathering and processing capacity and can benefit as rig activity in the area increases.",
    "output": "[Cause] rig activity in the area increases [Relation] cause [Effect] There is also substantial upside for Oneok in terms of capturing now-flared gas",
    "gold": "[Cause] Oneok has about 250-300 million cubic feet per day of spare gathering and processing capacity [Relation] enable [Effect]  there is also substantial upside for Oneok in terms of capturing now-flared gas",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the Williston Basin, there is also substantial upside for Oneok in terms of capturing now-flared gas, as Oneok has about 250-300 million cubic feet per day of spare gathering and processing capacity and can benefit as rig activity in the area increases.",
    "output": "[Cause] rig activity in the area increases [Relation] cause [Effect] benefit",
    "gold": "[Cause]  there is also substantial upside for Oneok in terms of capturing now-flared gas [Relation] enable [Effect] benefit as rig activity in the area increases",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Variations in regional crude oil quality and refinery specifications require Albemarle to work closely with customers to formulate customized catalysts for each refinery.",
    "output": "[Cause] Variations in regional crude oil quality and refinery specifications require Albemarle to work closely with customers [Relation] enable [Effect] formulate customized catalysts for each refinery",
    "gold": "[Cause] Variations in regional crude oil quality and refinery specifications require [Relation] enable [Effect]  Albemarle to work closely with customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While there is some room for margin expansion in Canada, expansion outside Canada should generally limit margin and return on equity expansion in the longer term.",
    "output": "[Cause] expansion outside Canada [Relation] prevent [Effect] margin expansion in the longer term",
    "gold": "[Cause] expansion outside Canada [Relation] cause [Effect] limit margin",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nordstrom's full-price, full-line stores generated $10 billion in 2019 sales, making the company one of the largest upscale fashion retailers in the U.S., before falling to $7 billion in 2020 due to COVID-19.",
    "output": "[Cause] Nordstrom's full-price, full-line stores generated $10 billion in 2019 sales [Relation] cause [Effect] falling to $7 billion in 2020",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] falling to $7 billion in 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe these efforts are paying off and that Ralph Lauren has been able to reduce unnecessary expenses to fund greater marketing.",
    "output": "[Cause] these efforts are paying off [Relation] enable [Effect] Ralph Lauren has been able to reduce unnecessary expenses",
    "gold": "[Cause] these efforts are paying off [Relation] cause [Effect] Ralph Lauren has been able to reduce unnecessary expenses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe these efforts are paying off and that Ralph Lauren has been able to reduce unnecessary expenses to fund greater marketing.",
    "output": "[Cause] Ralph Lauren has been able to reduce unnecessary expenses [Relation] enable [Effect] fund greater marketing",
    "gold": "[Cause] Ralph Lauren has been able to reduce unnecessary expenses [Relation] enable [Effect] fund greater marketing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Still, we do not think Bio-Techne wants to compete for value-seeking customers, as maintaining a premium market position is a key element of the firm's strategy, and it would be difficult to maintain a strong reputation in a price war environment.",
    "output": "[Cause] maintaining a premium market position is a key element of the firm's strategy [Relation] cause [Effect] we do not think Bio-Techne wants to compete for value-seeking customers",
    "gold": "[Cause] maintaining a premium market position is a key element of the firm's strategy [Relation] cause [Effect] we do not think Bio-Techne wants to compete for value-seeking customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And after suspending its share-repurchase program briefly during the COVID-19 crisis, Anthem's recently increased share repurchase authorization suggests that repurchases may boost earnings growth during our forecast period.",
    "output": "[Cause] Anthem's recently increased share repurchase authorization [Relation] enable [Effect] boost earnings growth during our forecast period",
    "gold": "[Cause] after suspending its share-repurchase program briefly during the COVID-19 crisis [Relation] cause [Effect] Anthem's recently increased share repurchase authorization suggests that repurchases may boost earnings growth during our forecast period",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "And thus, if an enterprise was to swap out its data lake, it would require reconnecting to all of an enterprise's databases, likely causing even more work than the already onerous overhaul of access method rewriting between software to a single database when swapping out a database.",
    "output": "[Cause] an enterprise was to swap out its data lake, it would require reconnecting to all of an enterprise's databases [Relation] cause [Effect] causing even more work than the already onerous overhaul of access method rewriting between software to a single database when swapping out a database",
    "gold": "[Cause] an enterprise was to swap out its data lake, it would require reconnecting to all of an enterprise's databases [Relation] cause [Effect] causing even more work than the already onerous overhaul of access method rewriting between software to a single database when swapping out a database",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see a low materiality impact, as Mosaic already has a plan to reduce carbon emissions in its nitrogen operations and increase the use of more renewable energy at its potash operations.",
    "output": "[Cause] Mosaic already has a plan to reduce carbon emissions in its nitrogen operations and increase the use of more renewable energy at its potash operations [Relation] cause [Effect] a low materiality impact",
    "gold": "[Cause] reduce carbon emissions in its nitrogen operations [Relation] cause [Effect]  increase the use of more renewable energy at its potash operations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Consumable patch pumps are trickier to manufacture than traditional ''tubed'' insulin pumps, partly because there are more components in the patch pump that offer more opportunities for things to go wrong.",
    "output": "[Cause] there are more components in the patch pump that offer more opportunities for things to go wrong [Relation] cause [Effect] Consumable patch pumps are trickier to manufacture than traditional ''tubed'' insulin pumps",
    "gold": "[Cause] there are more components in the patch pump that offer more opportunities for things to go wrong [Relation] cause [Effect] Consumable patch pumps are trickier to manufacture than traditional ''tubed'' insulin pumps",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At some point in the future, we anticipate a tipping point at which the consumer is no longer willing to continue to accept price increases above the broader rate of inflation, leading to an increase in price elasticity.",
    "output": "[Cause] the consumer is no longer willing to continue to accept price increases above the broader rate of inflation [Relation] cause [Effect] an increase in price elasticity",
    "gold": "[Cause] a tipping point [Relation] cause [Effect] no longer willing to continue to accept price increases above the broader rate of inflation",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Zebra creates an even more integrated--and thus entrenched--system for its customers by layering software on top of its solutions.",
    "output": "[Cause] layering software on top of its solutions [Relation] enable [Effect] Zebra creates an even more integrated--and thus entrenched--system for its customers",
    "gold": "[Cause]  layering software on top of its solutions [Relation] enable [Effect] Zebra creates an even more integrated--and thus entrenched--system for its customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We attribute 3M's ability to remain ahead of GDP based on its suite of innovative products that are a byproduct of its R&D efforts.",
    "output": "[Cause] its suite of innovative products that are a byproduct of its R&D efforts [Relation] enable [Effect] 3M's ability to remain ahead of GDP",
    "gold": "[Cause] its suite of innovative products that are a byproduct of its R&D efforts [Relation] enable [Effect]  3M's ability to remain ahead of GDP",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, if key measures of the Affordable Care Act are dismantled, this could lead to less volume and higher bad debt expense.",
    "output": "[Cause] key measures of the Affordable Care Act are dismantled [Relation] cause [Effect] less volume and higher bad debt expense",
    "gold": "[Cause] key measures of the Affordable Care Act are dismantled [Relation] cause [Effect] less volume and higher bad debt expense",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Musk was very smart to not only design a great-looking car, but also have Tesla right away sell vehicles at a premium price point. This created tremendous media publicity for Tesla beyond its customers, which we think creates a halo effect for Model 3 and Model Y demand when they were introduced, as well as for the Cybertruck, which we think is ugly but that ugliness is ironically part of its appeal.",
    "output": "[Cause] Musk was very smart to not only design a great-looking car, but also have Tesla right away sell vehicles at a premium price point [Relation] cause [Effect] created tremendous media publicity for Tesla beyond its customers, which we think creates a halo effect for Model 3 and Model Y demand when they were introduced, as well as for the Cybertruck, which we think is ugly but that ugliness is ironically part of its appeal",
    "gold": "[Cause] Musk was very smart to not only design a great-looking car, but also have Tesla right away sell vehicles at a premium price point [Relation] cause [Effect] created tremendous media publicity for Tesla beyond its customers, which we think creates a halo effect for Model 3 and Model Y demand when they were introduced, as well as for the Cybertruck, which we think is ugly but that ugliness is ironically part of its appeal",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We still see meaningful downside for commodity prices from current levels, particularly for iron ore and copper, but acknowledge that tighter markets will take time to normalise as the effects of China's fiscal and monetary stimulus wane.",
    "output": "[Cause] the effects of China's fiscal and monetary stimulus wane [Relation] cause [Effect] tighter markets will take time to normalise",
    "gold": "[Cause] the effects of China's fiscal and monetary stimulus wane [Relation] cause [Effect]  tighter markets will take time to normalise",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Business ethics risk was raised with BMW's inclusion in an EU antitrust case regarding diesel equipment collusion among German automakers.",
    "output": "[Cause] diesel equipment collusion among German automakers [Relation] cause [Effect] Business ethics risk was raised with BMW's inclusion in an EU antitrust case",
    "gold": "[Cause] diesel equipment collusion among German automakers [Relation] cause [Effect] Business ethics risk was raised with BMW's inclusion in an EU antitrust case",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, inertia is the most likely reason customers stay with Biotrue, given that customers are apt to continue using solution that works, and all solutions are generally priced at around the same level.",
    "output": "[Cause] inertia [Relation] cause [Effect] customers stay with Biotrue",
    "gold": "[Cause]  inertia [Relation] enable [Effect] customers stay with Biotrue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, inertia is the most likely reason customers stay with Biotrue, given that customers are apt to continue using solution that works, and all solutions are generally priced at around the same level.",
    "output": "[Cause] inertia [Relation] cause [Effect] customers stay with Biotrue",
    "gold": "[Cause] customers are apt to continue using solution that works, and all solutions are generally priced at around the same level [Relation] enable [Effect]  inertia",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As a large-cap consumer staples multinational, Reckitt is a relatively stable operator, but after recent operational mishaps, we are wary of a black swan event that could materially affect the financial performance of the business.",
    "output": "[Cause] recent operational mishaps [Relation] cause [Effect] we are wary of a black swan event that could materially affect the financial performance of the business",
    "gold": "[Cause] recent operational mishaps [Relation] cause [Effect] we are wary of a black swan event that could materially affect the financial performance of the business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the market shift away from the captive agent channel and Allstate's leading position in a mature industry limit its growth prospects.",
    "output": "[Cause] the market shift away from the captive agent channel and Allstate's leading position in a mature industry [Relation] prevent [Effect] its growth prospects",
    "gold": "[Cause] the market shift away from the captive agent channel and Allstate's leading position in a mature industry [Relation] prevent [Effect] its growth prospects",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The jump in retail energy earnings after incorporating Direct Energy should help offset falling generation margins and the long-term threat from renewable energy facing NRG's legacy fossil fuel generation.",
    "output": "[Cause] The jump in retail energy earnings after incorporating Direct Energy [Relation] enable [Effect] help offset falling generation margins and the long-term threat from renewable energy facing NRG's legacy fossil fuel generation",
    "gold": "[Cause] The jump in retail energy earnings after incorporating Direct Energy [Relation] enable [Effect] help offset falling generation margins and the long-term threat from renewable energy facing NRG's legacy fossil fuel generation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Turning to product-specific risks, Roche is already experiencing significant top-line pressure as key products Rituxan, Avastin, and Herceptin succumb to biosimilar competition, and biosimilars to both eye disease drug Lucentis and immunology drug Actemra could weigh on sales over the next few years.",
    "output": "[Cause] key products Rituxan, Avastin, and Herceptin succumb to biosimilar competition, and biosimilars to both eye disease drug Lucentis and immunology drug Actemra could weigh on sales over the next few years [Relation] cause [Effect] Turning to product-specific risks, Roche is already experiencing significant top-line pressure",
    "gold": "[Cause] key products Rituxan, Avastin, and Herceptin succumb to biosimilar competition, and biosimilars to both eye disease drug Lucentis and immunology drug Actemra could weigh on sales over the next few years [Relation] cause [Effect] Turning to product-specific risks, Roche is already experiencing significant top-line pressure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Narrower discounts for inland crude have reduced opportunities on the East and West Coast to transport discount light crude to its refineries via rail and barge to back out more expensive foreign imports.",
    "output": "[Cause] Narrower discounts for inland crude [Relation] cause [Effect] reduced opportunities on the East and West Coast to transport discount light crude to its refineries via rail and barge",
    "gold": "[Cause] Narrower discounts for inland crude [Relation] cause [Effect] reduced opportunities on the East and West Coast to transport discount light crude to its refineries via rail and barge",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Narrower discounts for inland crude have reduced opportunities on the East and West Coast to transport discount light crude to its refineries via rail and barge to back out more expensive foreign imports.",
    "output": "[Cause] reduced opportunities on the East and West Coast to transport discount light crude to its refineries via rail and barge [Relation] enable [Effect] back out more expensive foreign imports",
    "gold": "[Cause] reduced opportunities on the East and West Coast to transport discount light crude to its refineries via rail and barge [Relation] enable [Effect] back out more expensive foreign imports",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite considerable intangible assets surrounding HDD design expertise as well as a cost advantage in HDD manufacturing, these capabilities are unlikely to allow it to generate excess returns on capital over the next decade due to the broad technological trends away from the legacy hardware.",
    "output": "[Cause] the broad technological trends away from the legacy hardware [Relation] cause [Effect] these capabilities are unlikely to allow it to generate excess returns on capital over the next decade",
    "gold": "[Cause] the broad technological trends away from the legacy hardware [Relation] cause [Effect] these capabilities are unlikely to allow it to generate excess returns on capital over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The faith that DIY consumers place in AutoZone staff members eases the company's attempts to position its higher-margin proprietary labels as value-oriented alternatives and have helped drive private label's share of sales above 50%.",
    "output": "[Cause] The faith that DIY consumers place in AutoZone staff members [Relation] enable [Effect] eases the company's attempts to position its higher-margin proprietary labels as value-oriented alternatives and have helped drive private label's share of sales above 50%",
    "gold": "[Cause] The faith that DIY consumers place in AutoZone staff members [Relation] cause [Effect] eases the company's attempts to position its higher-margin proprietary labels as value-oriented alternatives and have helped drive private label's share of sales above 50%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, volume in discretionary and premium categories such as confectionery and bottled water has sometimes experienced moderate declines during economic contractions, and consumers usually become more price and channel sensitive.",
    "output": "[Cause] volume in discretionary and premium categories such as confectionery and bottled water has sometimes experienced moderate declines during economic contractions [Relation] cause [Effect] consumers usually become more price and channel sensitive",
    "gold": "[Cause] volume in discretionary and premium categories such as confectionery and bottled water has sometimes experienced moderate declines during economic contractions [Relation] cause [Effect] consumers usually become more price and channel sensitive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, given the average winter in the 2020-21 season combined with reduced supply as competitor Cargill shut down the Avery Island mine, we see prices rising starting in the fourth quarter of 2021.",
    "output": "[Cause] competitor Cargill shut down the Avery Island mine [Relation] cause [Effect] reduced supply",
    "gold": "[Cause] competitor Cargill shut down the Avery Island mine [Relation] cause [Effect] reduced supply",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, given the average winter in the 2020-21 season combined with reduced supply as competitor Cargill shut down the Avery Island mine, we see prices rising starting in the fourth quarter of 2021.",
    "output": "[Cause] competitor Cargill shut down the Avery Island mine [Relation] cause [Effect] reduced supply",
    "gold": "[Cause] given the average winter in the 2020-21 season | reduced supply [Relation] cause [Effect] prices rising starting in the fourth quarter of 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The new development should have positive knock-on effects by increasing foot traffic and rents, as the project adds activity to a once-drab slice of Manhattan.",
    "output": "[Cause] the project adds activity to a once-drab slice of Manhattan [Relation] cause [Effect] The new development should have positive knock-on effects by increasing foot traffic and rents",
    "gold": "[Cause]  the project adds activity to a once-drab slice of Manhattan [Relation] enable [Effect] The new development should have positive knock-on effects by increasing foot traffic and rents",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The new development should have positive knock-on effects by increasing foot traffic and rents, as the project adds activity to a once-drab slice of Manhattan.",
    "output": "[Cause] the project adds activity to a once-drab slice of Manhattan [Relation] cause [Effect] The new development should have positive knock-on effects by increasing foot traffic and rents",
    "gold": "[Cause]  increasing foot traffic and rents [Relation] enable [Effect] The new development should have positive knock-on effects",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think the firm's industrial revenue will stay low in 2021 as the world continues to grapple with the COVID-19 pandemic but see a strong rebound thereafter as industrial production rebounds and investments in smart and connected factories increase.",
    "output": "[Cause] the world continues to grapple with the COVID-19 pandemic [Relation] cause [Effect] the firm's industrial revenue will stay low in 2021",
    "gold": "[Cause] the world continues to grapple with the COVID-19 pandemic [Relation] cause [Effect] the firm's industrial revenue will stay low in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As wireless technologies move into 5G and future spectrum bands will likely be at 2 Gigahertz or above (likely at 6 GHz and below), Skyworks could be at a competitive disadvantage in filters.",
    "output": "[Cause] wireless technologies move into 5G and future spectrum bands will likely be at 2 Gigahertz or above (likely at 6 GHz and below) [Relation] cause [Effect] Skyworks could be at a competitive disadvantage in filters",
    "gold": "[Cause] wireless technologies move into 5G and future spectrum bands will likely be at 2 Gigahertz or above (likely at 6 GHz and below) [Relation] cause [Effect] Skyworks could be at a competitive disadvantage in filters",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even though we think consumers will ultimately work through their at-home inventory, we think Kellogg could sustain a low-single-digit pace of top-line growth by focusing on extending the distribution of its mix and reinvesting in product innovation (including on-the-go pack formats) aligned with consumer trends at home and abroad.",
    "output": "[Cause] focusing on extending the distribution of its mix and reinvesting in product innovation (including on-the-go pack formats) aligned with consumer trends at home and abroad [Relation] enable [Effect] sustain a low-single-digit pace of top-line growth",
    "gold": "[Cause] focusing on extending the distribution of its mix and reinvesting in product innovation (including on-the-go pack formats) aligned with consumer trends at home and abroad [Relation] enable [Effect] sustain a low-single-digit pace of top-line growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that spending plan will go higher as CMS expands its investment in renewable energy and carbon emissions reductions based on state policy support.",
    "output": "[Cause] CMS expands its investment in renewable energy and carbon emissions reductions based on state policy support [Relation] cause [Effect] spending plan will go higher",
    "gold": "[Cause] CMS expands its investment in renewable energy and carbon emissions reductions based on state policy support [Relation] cause [Effect] spending plan will go higher",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that spending plan will go higher as CMS expands its investment in renewable energy and carbon emissions reductions based on state policy support.",
    "output": "[Cause] CMS expands its investment in renewable energy and carbon emissions reductions [Relation] cause [Effect] spending plan will go higher",
    "gold": "[Cause]  state policy support [Relation] cause [Effect] CMS expands its investment in renewable energy and carbon emissions reductions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The useful life of its instruments likely extends between 5 and 10 years, and as long as Illumina's sequencing tools remain relevant, it should be able to count on substantial consumable revenue for the useful life of its instruments.",
    "output": "[Cause] Illumina's sequencing tools remain relevant [Relation] enable [Effect] it should be able to count on substantial consumable revenue for the useful life of its instruments",
    "gold": "[Cause] Illumina's sequencing tools remain relevant [Relation] cause [Effect] it should be able to count on substantial consumable revenue for the useful life of its instruments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since primary packaging is in direct contact with the package's contents, these components are critical for the successful safe delivery of pharmaceutical products, given that packaging must ensure drugs don't leak into the packaging and vice-versa.",
    "output": "[Cause] primary packaging is in direct contact with the package's contents [Relation] cause [Effect] these components are critical for the successful safe delivery of pharmaceutical products",
    "gold": "[Cause] primary packaging is in direct contact with the package's contents [Relation] cause [Effect] these components are critical for the successful safe delivery of pharmaceutical products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since primary packaging is in direct contact with the package's contents, these components are critical for the successful safe delivery of pharmaceutical products, given that packaging must ensure drugs don't leak into the packaging and vice-versa.",
    "output": "[Cause] packaging must ensure drugs don't leak into the packaging and vice-versa [Relation] cause [Effect] these components are critical for the successful safe delivery of pharmaceutical products",
    "gold": "[Cause]  packaging must ensure drugs don't leak into the packaging and vice-versa [Relation] cause [Effect] these components are critical for the successful safe delivery of pharmaceutical products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At the moment, the coronavirus crisis and the resulting mass work-from-home expirement has raised questions about the viability of the office real estate industry.",
    "output": "[Cause] the coronavirus crisis and the resulting mass work-from-home expirement [Relation] cause [Effect] raised questions about the viability of the office real estate industry",
    "gold": "[Cause] the coronavirus crisis [Relation] cause [Effect] mass work-from-home expirement",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Its greater exposure to liquids and liquids-linked natural gas production, together over 70% of total volumes, has produced peer-leading cash margins and returns of nearly 20% historically.",
    "output": "[Cause] Its greater exposure to liquids and liquids-linked natural gas production, together over 70% of total volumes [Relation] enable [Effect] produced peer-leading cash margins and returns of nearly 20% historically",
    "gold": "[Cause] Its greater exposure to liquids and liquids-linked natural gas production, together over 70% of total volumes [Relation] cause [Effect] produced peer-leading cash margins and returns of nearly 20% historically",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Citrix is undergoing a business model transition from perpetual license to subscriptions, while simultaneously significantly raising maintenance pricing, and emerging from a prolonged period of portfolio and operational restructuring.",
    "output": "[Cause] Citrix is undergoing a business model transition from perpetual license to subscriptions [Relation] cause [Effect] simultaneously significantly raising maintenance pricing, and emerging from a prolonged period of portfolio and operational restructuring",
    "gold": "[Cause] Citrix is undergoing a business model transition from perpetual license to subscriptions [Relation] cause [Effect] simultaneously significantly raising maintenance pricing, and emerging from a prolonged period of portfolio and operational restructuring",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition to data sharing, we think there is a slight risk that brokers and property owners stem the supply of information.",
    "output": "[Cause] brokers and property owners [Relation] prevent [Effect] supply of information",
    "gold": "[Cause] brokers and property owners [Relation] prevent [Effect]  supply of information",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of Schwab's scalable business model, we have operating margins contracting to the mid- to low 30s over the next several years and then recovering to over 45% in the long run.",
    "output": "[Cause] Schwab's scalable business model [Relation] cause [Effect] we have operating margins contracting to the mid- to low 30s over the next several years and then recovering to over 45% in the long run",
    "gold": "[Cause] Schwab's scalable business model [Relation] cause [Effect] we have operating margins contracting to the mid- to low 30s over the next several years and then recovering to over 45% in the long run",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Vodafone's global scale also provides it with some advantages over competitors, allowing it to source equipment at lower prices.",
    "output": "[Cause] Vodafone's global scale also provides it with some advantages over competitors [Relation] enable [Effect] source equipment at lower prices",
    "gold": "[Cause] Vodafone's global scale also provides it with some advantages over competitors [Relation] enable [Effect] source equipment at lower prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Strong intangible assets in the former of software and hardware engineering at the vertical Specialty Industrial Machinerylevel are necessary to achieve effective results in automation solutions.",
    "output": "[Cause] Strong intangible assets in the former of software and hardware engineering at the vertical Specialty Industrial Machinerylevel [Relation] enable [Effect] achieve effective results in automation solutions",
    "gold": "[Cause] Strong intangible assets [Relation] enable [Effect] to achieve effective results",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Autodesk software also seeks to improve its customers' environmental impact by providing tools to conduct energy analysis, manage 'green' stormwater, reduce construction waste and the like.",
    "output": "[Cause] providing tools to conduct energy analysis, manage 'green' stormwater, reduce construction waste and the like [Relation] enable [Effect] improve its customers' environmental impact",
    "gold": "[Cause] providing tools to conduct energy analysis, manage 'green' stormwater, reduce construction waste and the like [Relation] enable [Effect]  improve its customers' environmental impact",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Chipotle's operational enhancements, including the addition of a digital-only second-make line and the rollout of \"\"\"\"Chipotlanes,\"\"\"\" or order-ahead drive-thrus, have materially increased throughput capacity, allowing stores to offer competitive prices and make up the difference on volume.",
    "output": "[Cause] Chipotle's operational enhancements, including the addition of a digital-only second-make line and the rollout of \"\"\"\"Chipotlanes,\"\"\"\" or order-ahead drive-thrus [Relation] enable [Effect] materially increased throughput capacity",
    "gold": "[Cause] Chipotle's operational enhancements, including the addition of a digital-only second-make line and the rollout of \"\"\"\"Chipotlanes,\"\"\"\" or order-ahead drive-thrus [Relation] enable [Effect] materially increased throughput capacity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Chipotle's operational enhancements, including the addition of a digital-only second-make line and the rollout of \"\"\"\"Chipotlanes,\"\"\"\" or order-ahead drive-thrus, have materially increased throughput capacity, allowing stores to offer competitive prices and make up the difference on volume.",
    "output": "[Cause] materially increased throughput capacity [Relation] enable [Effect] stores to offer competitive prices and make up the difference on volume",
    "gold": "[Cause] materially increased throughput capacity [Relation] enable [Effect] stores to offer competitive prices and make up the difference on volume",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, its adjusted operating margin of 6.2% was 420 basis points above our expectation on cost cuts (including layoffs), unspecified government benefits, and sales leverage.",
    "output": "[Cause] cost cuts (including layoffs), unspecified government benefits, and sales leverage [Relation] cause [Effect] its adjusted operating margin of 6.2% was 420 basis points above our expectation",
    "gold": "[Cause] cost cuts (including layoffs), unspecified government benefits, and sales leverage [Relation] cause [Effect]  its adjusted operating margin of 6.2% was 420 basis points above our expectation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its focus on developing and broadening its menu of tests makes Idexx more of a one-stop shop for animal hospitals.",
    "output": "[Cause] Its focus on developing and broadening its menu of tests [Relation] enable [Effect] Idexx more of a one-stop shop for animal hospitals",
    "gold": "[Cause] Its focus on developing and broadening its menu of tests [Relation] enable [Effect] Idexx more of a one-stop shop for animal hospitals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lastly, while Snap is focusing mostly on developed markets which represent most of the world's ad spending, it may have difficulty expanding into developing markets as its app functions much better with the more expensive, or high-end, smartphones and in areas where high-speed mobile Internet is available.",
    "output": "[Cause] its app functions much better with the more expensive, or high-end, smartphones and in areas where high-speed mobile Internet is available [Relation] cause [Effect] it may have difficulty expanding into developing markets",
    "gold": "[Cause] its app functions much better with the more expensive, or high-end, smartphones and in areas where high-speed mobile Internet is available [Relation] cause [Effect] it may have difficulty expanding into developing markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Nvidia had generated most of its sales from gaming, its increasing data center presence for GPUs used in deep learning has helped propel the data center segment to a more equitable level.",
    "output": "[Cause] its increasing data center presence for GPUs used in deep learning [Relation] enable [Effect] propel the data center segment to a more equitable level",
    "gold": "[Cause] its increasing data center presence for GPUs used in deep learning [Relation] enable [Effect] propel the data center segment to a more equitable level",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the bank's higher capital levels since the crisis, the increasing importance of scale and scope with changes in technology, and robust fee income, we believe Bank of America will consistently earn returns that exceed its 9.5% cost of equity through the cycle.",
    "output": "[Cause] the bank's higher capital levels since the crisis, the increasing importance of scale and scope with changes in technology, and robust fee income [Relation] cause [Effect] Bank of America will consistently earn returns that exceed its 9.5% cost of equity through the cycle",
    "gold": "[Cause] the bank's higher capital levels since the crisis, the increasing importance of scale and scope with changes in technology, and robust fee income [Relation] enable [Effect] Bank of America will consistently earn returns that exceed its 9.5% cost of equity through the cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we still expect higher political ad revenue as candidates will need to increase their paid media to offset the loss of free media coverage of rallies and other public events.",
    "output": "[Cause] candidates will need to increase their paid media to offset the loss of free media coverage of rallies and other public events [Relation] cause [Effect] higher political ad revenue",
    "gold": "[Cause] candidates will need to increase their paid media [Relation] cause [Effect] offset the loss of free media coverage of rallies and other public events",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Pricing discounts hurting gross dollar profit per unit for both new and used vehicles and competition and factory rules mean a dealer can sell a vehicle for only so much, thus management must remain vigilant on leveraging its SG&A/gross profit ratio.",
    "output": "[Cause] Pricing discounts hurting gross dollar profit per unit for both new and used vehicles and competition and factory rules mean a dealer can sell a vehicle for only so much [Relation] cause [Effect] management must remain vigilant on leveraging its SG&A/gross profit ratio",
    "gold": "[Cause] Pricing discounts hurting gross dollar profit per unit for both new and used vehicles and competition and factory rules mean a dealer can sell a vehicle for only so much [Relation] cause [Effect] management must remain vigilant on leveraging its SG&A/gross profit ratio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "AES faces environmental, social, and governance risk, particularly given its relatively large fleet of coal- and natural gas-fired power plants.",
    "output": "[Cause] its relatively large fleet of coal- and natural gas-fired power plants [Relation] cause [Effect] AES faces environmental, social, and governance risk",
    "gold": "[Cause] its relatively large fleet of coal- and natural gas-fired power plants [Relation] cause [Effect] AES faces environmental, social, and governance risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm is also managing its basis exposure via its extensive firm transport portfolio, which enables it to sidestep bottlenecks and sell 90% of its output in premium markets outside the basin.",
    "output": "[Cause] The firm is also managing its basis exposure via its extensive firm transport portfolio [Relation] enable [Effect] sidestep bottlenecks and sell 90% of its output in premium markets outside the basin",
    "gold": "[Cause] The firm is also managing its basis exposure via its extensive firm transport portfolio [Relation] enable [Effect] sidestep bottlenecks and sell 90% of its output in premium markets outside the basin",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If moviegoers change their tastes away from tentpole movies, the average revenue per screen could drop tremendously, as Imax would then have less inventory to distribute across its network.",
    "output": "[Cause] moviegoers change their tastes away from tentpole movies [Relation] cause [Effect] the average revenue per screen could drop tremendously",
    "gold": "[Cause] Imax would then have less inventory to distribute across its network [Relation] cause [Effect] the average revenue per screen could drop tremendously",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If moviegoers change their tastes away from tentpole movies, the average revenue per screen could drop tremendously, as Imax would then have less inventory to distribute across its network.",
    "output": "[Cause] Imax would then have less inventory to distribute across its network [Relation] cause [Effect] the average revenue per screen could drop tremendously",
    "gold": "[Cause] moviegoers change their tastes away from tentpole movies [Relation] cause [Effect] the average revenue per screen could drop tremendously",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Robert Half stores a large amount of employee and client data, and improper storage and protection of this data could have a material effect on the firm's reputation.",
    "output": "[Cause] improper storage and protection of this data [Relation] cause [Effect] have a material effect on the firm's reputation",
    "gold": "[Cause] improper storage and protection of this data [Relation] enable [Effect] have a material effect on the firm's reputation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect margin declines from 2020 levels in the aerospace segment as G550s are leaving production, but we expect medium-term margin expansion from the introduction of the G700.",
    "output": "[Cause] G550s are leaving production [Relation] cause [Effect] margin declines from 2020 levels in the aerospace segment",
    "gold": "[Cause] the introduction of the G700 [Relation] cause [Effect] medium-term margin expansion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect margin declines from 2020 levels in the aerospace segment as G550s are leaving production, but we expect medium-term margin expansion from the introduction of the G700.",
    "output": "[Cause] the introduction of the G700 [Relation] cause [Effect] medium-term margin expansion",
    "gold": "[Cause] G550s are leaving production [Relation] cause [Effect] margin declines from 2020 levels in the aerospace segment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We are modeling a roughly 350-basis-point adjusted operating margin expansion from 10.2% in fiscal 2020 to 13.7% by fiscal 2025, largely driven by management's general and administrative cost-reduction plan, and mix shift toward higher-margin design and consulting services work.",
    "output": "[Cause] management's general and administrative cost-reduction plan, and mix shift toward higher-margin design and consulting services work [Relation] cause [Effect] We are modeling a roughly 350-basis-point adjusted operating margin expansion from 10.2% in fiscal 2020 to 13.7% by fiscal 2025",
    "gold": "[Cause] management's general and administrative cost-reduction plan, and mix shift toward higher-margin design and consulting services work [Relation] cause [Effect] We are modeling a roughly 350-basis-point adjusted operating margin expansion from 10.2% in fiscal 2020 to 13.7% by fiscal 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "BorgWarner's products are highly engineered, requiring the company to attract and retain highly skilled human capital with expertise in software and various engineering disciplines.",
    "output": "[Cause] BorgWarner's products are highly engineered [Relation] cause [Effect] requiring the company to attract and retain highly skilled human capital with expertise in software and various engineering disciplines",
    "gold": "[Cause] requiring the company to attract and retain highly skilled human capital with expertise in software and various engineering disciplines [Relation] cause [Effect] BorgWarner's products are highly engineered",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Even though some markets are reopening, social distancing has continued to constrain shopping trips, and siphoned off its own retail sales (which temporarily shuttered), food service operations, and travel retail outlets.",
    "output": "[Cause] social distancing [Relation] prevent [Effect] shopping trips",
    "gold": "[Cause]  social distancing [Relation] cause [Effect] siphoned off its own retail sales (which temporarily shuttered), food service operations, and travel retail outlets.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As business jets are discretionary luxury goods, orders dry up and get canceled during cyclical turns and equity market downturns.",
    "output": "[Cause] business jets are discretionary luxury goods [Relation] cause [Effect] orders dry up and get canceled during cyclical turns and equity market downturns",
    "gold": "[Cause]  business jets are discretionary luxury goods [Relation] cause [Effect] orders dry up and get canceled during cyclical turns and equity market downturns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we have a constructive decade-long outlook for the housing market, we believe home price appreciation will moderate over the coming years as more supply enters the market and as mortgage rates move higher.",
    "output": "[Cause] more supply enters the market and as mortgage rates move higher [Relation] cause [Effect] home price appreciation will moderate over the coming years",
    "gold": "[Cause] more supply enters the market and as mortgage rates move higher [Relation] cause [Effect] home price appreciation will moderate over the coming years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the rotary and mission systems will grow slower than the rest of the portfolio, due to slowing helicopter demand (partially offset by the potential Future Vertical Lift contract).",
    "output": "[Cause] slowing helicopter demand [Relation] cause [Effect] the rotary and mission systems will grow slower than the rest of the portfolio",
    "gold": "[Cause] slowing helicopter demand [Relation] enable [Effect] the rotary and mission systems will grow slower than the rest of the portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Equifax relies on third parties for much of its data, and its business could be disrupted if it lost access to key data suppliers.",
    "output": "[Cause] it lost access to key data suppliers [Relation] cause [Effect] its business could be disrupted",
    "gold": "[Cause] it lost access to key data suppliers [Relation] cause [Effect] its business could be disrupted",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For the chemical segment, we expect earnings to decline in the next couple of years given global oversupply and impact on demand of the coronavirus pandemic.",
    "output": "[Cause] global oversupply and impact on demand of the coronavirus pandemic [Relation] cause [Effect] earnings to decline in the next couple of years",
    "gold": "[Cause] global oversupply and impact on demand of the coronavirus pandemic [Relation] cause [Effect] earnings to decline in the next couple of years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Advance's strong DIY brand and trusted salesforce also enable it to drive significant traction for its proprietary brands (approximately 40% of sales).",
    "output": "[Cause] Advance's strong DIY brand and trusted salesforce [Relation] enable [Effect] significant traction for its proprietary brands",
    "gold": "[Cause] Advance's strong DIY brand and trusted salesforce [Relation] enable [Effect]  significant traction for its proprietary brands",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate a continuation of this trend in the near to medium term, with a sharp drop-off in consumer lending in 2020 and tightening spreads across the book.",
    "output": "[Cause] a sharp drop-off in consumer lending in 2020 and tightening spreads across the book [Relation] cause [Effect] a continuation of this trend in the near to medium term",
    "gold": "[Cause] a sharp drop-off in consumer lending in 2020 and tightening spreads across the book [Relation] cause [Effect] a continuation of this trend in the near to medium term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This cross-selling opportunity is supported by Paycom's investments within its platform, allowing the company to expand its customer base further up-market. This expansion will also support a higher per-employee-per-year (PEPY) price that will enable the firm to generate more value per client.",
    "output": "[Cause] This cross-selling opportunity is supported by Paycom's investments within its platform, allowing the company to expand its customer base further up-market [Relation] enable [Effect] support a higher per-employee-per-year (PEPY) price that will enable the firm to generate more value per client",
    "gold": "[Cause] This cross-selling opportunity is supported by Paycom's investments within its platform, allowing the company to expand its customer base further up-market [Relation] enable [Effect] support a higher per-employee-per-year (PEPY) price that will enable the firm to generate more value per client",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We estimate a 13% EPS decline in 2022 due to divestitures and a 12.6% increase in shares outstanding from the conversion of convertible preferred shares.",
    "output": "[Cause] divestitures and a 12.6% increase in shares outstanding from the conversion of convertible preferred shares [Relation] cause [Effect] a 13% EPS decline in 2022",
    "gold": "[Cause] divestitures and a 12.6% increase in shares outstanding from the conversion of convertible preferred shares [Relation] cause [Effect] a 13% EPS decline in 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast L Brands to deliver 2.8% average revenue growth over the next five years, helped by the repositioning of the VS brand.",
    "output": "[Cause] the repositioning of the VS brand [Relation] enable [Effect] L Brands to deliver 2.8% average revenue growth over the next five years",
    "gold": "[Cause] the repositioning of the VS brand [Relation] cause [Effect]  L Brands to deliver 2.8% average revenue growth over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think these customers are more likely to stay with their established and trusted cybersecurity vendors to avoid security and IT network disruptions, and Fortinet has entrenched its products within the SMB market while growing its presence in the even stickier enterprise space.",
    "output": "[Cause] these customers are more likely to stay with their established and trusted cybersecurity vendors [Relation] prevent [Effect] security and IT network disruptions",
    "gold": "[Cause] these customers are more likely to stay with their established and trusted cybersecurity vendors [Relation] prevent [Effect] security and IT network disruptions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think these customers are more likely to stay with their established and trusted cybersecurity vendors to avoid security and IT network disruptions, and Fortinet has entrenched its products within the SMB market while growing its presence in the even stickier enterprise space.",
    "output": "[Cause] Fortinet has entrenched its products within the SMB market [Relation] enable [Effect] growing its presence in the even stickier enterprise space",
    "gold": "[Cause] Fortinet has entrenched its products within the SMB market [Relation] cause [Effect] growing its presence in the even stickier enterprise space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through digital coupons and targeted offers (creating and leveraging a rich dataset of customer behaviors), we expect the app to enhance Dollar General's ability to communicate its value proposition to its customers, with the brand's strength driving downloads and the deals offered boosting shoppers' perception of the value proposition.",
    "output": "[Cause] digital coupons and targeted offers (creating and leveraging a rich dataset of customer behaviors) [Relation] enable [Effect] the app to enhance Dollar General's ability to communicate its value proposition to its customers, with the brand's strength driving downloads and the deals offered boosting shoppers' perception of the value proposition",
    "gold": "[Cause] digital coupons and targeted offers (creating and leveraging a rich dataset of customer behaviors) [Relation] enable [Effect]  the app to enhance Dollar General's ability to communicate its value proposition to its customers, with the brand's strength driving downloads and the deals offered boosting shoppers' perception of the value proposition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With 4,976 stores and 51 distribution centers as of the end of 2020, the company is able to quickly shift inventory to meet customer demand while keeping reserves of slower-moving parts that can rapidly be delivered to stores if needed.",
    "output": "[Cause] 4,976 stores and 51 distribution centers as of the end of 2020 [Relation] enable [Effect] the company is able to quickly shift inventory to meet customer demand while keeping reserves of slower-moving parts that can rapidly be delivered to stores if needed",
    "gold": "[Cause] 4,976 stores and 51 distribution centers as of the end of 2020 [Relation] enable [Effect] the company is able to quickly shift inventory to meet customer demand while keeping reserves of slower-moving parts that can rapidly be delivered to stores if needed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The group's strong incumbent position on a range of key defense programmes limits the impact of programme concentration risk on profit sustainability over the long term.",
    "output": "[Cause] The group's strong incumbent position on a range of key defense programmes [Relation] prevent [Effect] the impact of programme concentration risk on profit sustainability over the long term",
    "gold": "[Cause] The group's strong incumbent position on a range of key defense programmes [Relation] prevent [Effect] the impact of programme concentration risk on profit sustainability over the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're projecting that operating margins will remain in low-single-digit territory in 2021 due to overhead inefficiencies on a low revenue base and will expand to roughly 2019 levels by 2024.",
    "output": "[Cause] overhead inefficiencies on a low revenue base and will expand to roughly 2019 levels by 2024 [Relation] cause [Effect] operating margins will remain in low-single-digit territory in 2021",
    "gold": "[Cause] overhead inefficiencies on a low revenue base [Relation] cause [Effect] remain in low-single-digit territory in 2021 |  expand to roughly 2019 levels by 2024",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Companies that depend heavily on buying content from other creators may find themselves squeezed particularly in markets with new entrants.",
    "output": "[Cause] Companies that depend heavily on buying content from other creators [Relation] cause [Effect] find themselves squeezed particularly in markets with new entrants",
    "gold": "[Cause] Companies that depend heavily on buying content from other creators [Relation] cause [Effect] find themselves squeezed particularly in markets with new entrants",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Neuromodulation has been an area of weakness now that competitors have introduced new products, and we think the segment's return to growth will be delayed by the COVID-19 pandemic and internal sales rep issues.",
    "output": "[Cause] competitors have introduced new products [Relation] cause [Effect] Neuromodulation has been an area of weakness",
    "gold": "[Cause] competitors have introduced new products [Relation] enable [Effect] the segment's return to growth will be delayed by the COVID-19 pandemic and internal sales rep issues",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With the bulk of the FTTP buildout complete, we believe capital spending, which was elevated in recent years, peaked in 2017 and will remain under CAD 3 billion each year through 2025.",
    "output": "[Cause] the bulk of the FTTP buildout complete [Relation] cause [Effect] capital spending, which was elevated in recent years, peaked in 2017 and will remain under CAD 3 billion each year through 2025",
    "gold": "[Cause] With the bulk of the FTTP buildout complete, we believe capital spending, [Relation] cause [Effect] which was elevated in recent years, peaked in 2017 and will remain under CAD 3 billion each year through 2025.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As the newer businesses grow more quickly than the traditional telecom business, we anticipate steady pressure on SK Telecom's margins, causing its EBITDA margin to slowly decline.",
    "output": "[Cause] steady pressure on SK Telecom's margins [Relation] cause [Effect] its EBITDA margin to slowly decline",
    "gold": "[Cause] steady pressure on SK Telecom's margins [Relation] cause [Effect] its EBITDA margin to slowly decline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This integration, whether it is due to multichannel campaigns or to enable an account's marketing department to work even more closely with the ad agency, creates switching costs for the clients.",
    "output": "[Cause] multichannel campaigns or to enable an account's marketing department to work even more closely with the ad agency [Relation] cause [Effect] creates switching costs for the clients",
    "gold": "[Cause] multichannel campaigns or to enable an account's marketing department to work even more closely with the ad agency [Relation] cause [Effect] creates switching costs for the clients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The national networks have been able to offset some of this loss by either selling content to the streaming platforms or creating their own direct-to-consumer offerings, an avenue largely denied to local station owners because of the lack of a content library.",
    "output": "[Cause] the lack of a content library [Relation] cause [Effect] an avenue largely denied to local station owners",
    "gold": "[Cause]  the lack of a content library [Relation] cause [Effect] an avenue largely denied to local station owners",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The national networks have been able to offset some of this loss by either selling content to the streaming platforms or creating their own direct-to-consumer offerings, an avenue largely denied to local station owners because of the lack of a content library.",
    "output": "[Cause] the lack of a content library [Relation] cause [Effect] an avenue largely denied to local station owners",
    "gold": "[Cause] either selling content to the streaming platforms or creating their own direct-to-consumer offerings [Relation] prevent [Effect] some of this loss",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The increase in our 2020 EPS estimate was due in large part to our increased confidence that costs associated with Hurricane Laura and Hurricane Delta will likely be securitized based on past regulatory actions and comments by Entergy management.",
    "output": "[Cause] our increased confidence that costs associated with Hurricane Laura and Hurricane Delta will likely be securitized based on past regulatory actions and comments by Entergy management [Relation] cause [Effect] The increase in our 2020 EPS estimate",
    "gold": "[Cause] our increased confidence that costs associated with Hurricane Laura and Hurricane Delta will likely be securitized based on past regulatory actions and comments by Entergy management [Relation] cause [Effect] The increase in our 2020 EPS estimate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If automakers intend certain models to achieve a 4- or 5-star safety rating, some ADAS features must be part of that vehicle's standard equipment to even qualify for certain rating levels.",
    "output": "[Cause] some ADAS features must be part of that vehicle's standard equipment [Relation] enable [Effect] even qualify for certain rating levels",
    "gold": "[Cause] some ADAS features must be part of that vehicle's standard equipment to even qualify for certain rating levels [Relation] enable [Effect] certain models to achieve a 4- or 5-star safety rating",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "CNOOC has access to financing from Chinese state-owned banks and an ability to tap cross-border bond markets, so it benefits from access to low-cost debt.",
    "output": "[Cause] CNOOC has access to financing from Chinese state-owned banks and an ability to tap cross-border bond markets [Relation] enable [Effect] it benefits from access to low-cost debt",
    "gold": "[Cause] CNOOC has access to financing from Chinese state-owned banks and an ability to tap cross-border bond markets [Relation] enable [Effect] it benefits from access to low-cost debt",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There is little incentive to price irrationally because, for example, a consumer who prefers Coke's taste will continue to do so regardless of Pepsi's price, which severely limits the potential marginal benefit for either company to materially underprice its products.",
    "output": "[Cause] a consumer who prefers Coke's taste will continue to do so regardless of Pepsi's price [Relation] cause [Effect] There is little incentive to price irrationally",
    "gold": "[Cause]  a consumer who prefers Coke's taste will continue to do so regardless of Pepsi's price [Relation] cause [Effect] There is little incentive to price irrationally",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There is little incentive to price irrationally because, for example, a consumer who prefers Coke's taste will continue to do so regardless of Pepsi's price, which severely limits the potential marginal benefit for either company to materially underprice its products.",
    "output": "[Cause] a consumer who prefers Coke's taste will continue to do so regardless of Pepsi's price [Relation] cause [Effect] There is little incentive to price irrationally",
    "gold": "[Cause]  a consumer who prefers Coke's taste will continue to do so regardless of Pepsi's price [Relation] prevent [Effect]  the potential marginal benefit for either company to materially underprice its products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With less investment in new towers, which typically have significantly fewer tenants per tower, revenue growth will be primarily from co-locations, amendments, and escalators, which will mostly drop straight to the bottom line.",
    "output": "[Cause] less investment in new towers, which typically have significantly fewer tenants per tower [Relation] cause [Effect] revenue growth will be primarily from co-locations, amendments, and escalators, which will mostly drop straight to the bottom line",
    "gold": "[Cause] less investment in new towers, which typically have significantly fewer tenants per tower [Relation] cause [Effect] revenue growth will be primarily from co-locations, amendments, and escalators, which will mostly drop straight to the bottom line",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm has made multiple acquisitions to move into the burgeoning Internet of Things market, which we think will help the firm improve its overall profitability and returns.",
    "output": "[Cause] The firm has made multiple acquisitions [Relation] enable [Effect] move into the burgeoning Internet of Things market",
    "gold": "[Cause] The firm has made multiple acquisitions [Relation] enable [Effect] move into the burgeoning Internet of Things market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm has made multiple acquisitions to move into the burgeoning Internet of Things market, which we think will help the firm improve its overall profitability and returns.",
    "output": "[Cause] move into the burgeoning Internet of Things market [Relation] enable [Effect] the firm improve its overall profitability and returns",
    "gold": "[Cause] move into the burgeoning Internet of Things market [Relation] enable [Effect] the firm improve its overall profitability and returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast price increases of roughly 3% per year, with weaker price growth in the Canadian recreational market due to Canadian consumers' preference for value over premium.",
    "output": "[Cause] Canadian consumers' preference for value over premium [Relation] cause [Effect] weaker price growth in the Canadian recreational market",
    "gold": "[Cause] Canadian consumers' preference for value over premium [Relation] enable [Effect] weaker price growth in the Canadian recreational market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project 10% sales growth in 2021 (versus a 4% increase prior, and modestly ahead of guidance for 6%-8% growth), as healthy first-half growth benefits from disproportionate COVID-19 category spending.",
    "output": "[Cause] healthy first-half growth benefits from disproportionate COVID-19 category spending [Relation] cause [Effect] 10% sales growth in 2021 (versus a 4% increase prior, and modestly ahead of guidance for 6%-8% growth)",
    "gold": "[Cause] healthy first-half growth benefits from disproportionate COVID-19 category spending [Relation] cause [Effect] 10% sales growth in 2021 (versus a 4% increase prior, and modestly ahead of guidance for 6%-8% growth)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, though there was a substantial uptick in IUD usage after the ACA, it is important to note that usage rates were already trending upward before 2012. Thus, even if this portion or all of the ACA were to be repealed, it is likely that IUD usage would not take a stark dive.",
    "output": "[Cause] though there was a substantial uptick in IUD usage after the ACA, it is important to note that usage rates were already trending upward before 2012 [Relation] cause [Effect] even if this portion or all of the ACA were to be repealed, it is likely that IUD usage would not take a stark dive",
    "gold": "[Cause] though there was a substantial uptick in IUD usage after the ACA, it is important to note that usage rates were already trending upward before 2012 [Relation] cause [Effect] even if this portion or all of the ACA were to be repealed, it is likely that IUD usage would not take a stark dive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Based on current pricing for Exact's Cologuard, we estimate an $18.4 billion market opportunity in colorectal cancer screening, and we anticipate Guardant's first-mover advantage will allow the company to maintain a leading share in colorectal liquid biopsy screening through the next decade.",
    "output": "[Cause] Guardant's first-mover advantage [Relation] enable [Effect] the company to maintain a leading share in colorectal liquid biopsy screening through the next decade",
    "gold": "[Cause] Based on current pricing for Exact's Cologuard [Relation] enable [Effect] we anticipate Guardant's first-mover advantage will allow the company to maintain a leading share in colorectal liquid biopsy screening through the next decade",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Pricing on new and popular items does not vary much from site to site due to competitive pressures and minimum advertised price agreements.",
    "output": "[Cause] competitive pressures and minimum advertised price agreements [Relation] cause [Effect] Pricing on new and popular items does not vary much from site to site",
    "gold": "[Cause] competitive pressures and minimum advertised price agreements [Relation] cause [Effect] Pricing on new and popular items does not vary much from site to site",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the bank must also maintain a vast international office network to support its global footprint for its commercial operations. Thus, we believe that Citigroup will likely continue to perform roughly in line with peers from an operating efficiency perspective.",
    "output": "[Cause] the bank must also maintain a vast international office network to support its global footprint for its commercial operations [Relation] cause [Effect] Citigroup will likely continue to perform roughly in line with peers from an operating efficiency perspective",
    "gold": "[Cause]  the bank must also maintain a vast international office network to support its global footprint for its commercial operations [Relation] cause [Effect] Citigroup will likely continue to perform roughly in line with peers from an operating efficiency perspective",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, although we don't see risks stemming from environmental, social, and governance as particularly pointed, we aren't blind to the fact that Campbell could be forced to recall its fare if quality standards fall short.",
    "output": "[Cause] quality standards fall short [Relation] cause [Effect] Campbell could be forced to recall its fare",
    "gold": "[Cause] quality standards fall short [Relation] cause [Effect] Campbell could be forced to recall its fare",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Less fragmented and well-integrated banking systems, like the Canadian system, have tended to be more stable over time, reducing risk.",
    "output": "[Cause] Less fragmented and well-integrated banking systems, like the Canadian system, have tended to be more stable over time [Relation] enable [Effect] reducing risk",
    "gold": "[Cause] Less fragmented and well-integrated banking systems, like the Canadian system, have tended to be more stable over time [Relation] enable [Effect] reducing risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Then we adjusted our operating margin forecast closer to 14%, up from the 13.4% we had initially modeled, as profitability gains should persist.",
    "output": "[Cause] profitability gains should persist [Relation] cause [Effect] we adjusted our operating margin forecast closer to 14%, up from the 13.4% we had initially modeled",
    "gold": "[Cause] profitability gains should persist [Relation] cause [Effect] we adjusted our operating margin forecast closer to 14%, up from the 13.4% we had initially modeled",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, Sun Life, including its MFS business, manages over CAD 1.3 trillion in assets and an operational failure could be costly.",
    "output": "[Cause] Sun Life, including its MFS business, manages over CAD 1.3 trillion in assets [Relation] cause [Effect] an operational failure could be costly",
    "gold": "[Cause] an operational failure [Relation] enable [Effect] could be costly",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, F5's products facilitate in the transfer of data, which may attract cybercriminals, and its solutions are tasked with protecting customers from cyberattacks, making data privacy and security a key concern.",
    "output": "[Cause] F5's products facilitate in the transfer of data [Relation] cause [Effect] attract cybercriminals",
    "gold": "[Cause] F5's products facilitate in the transfer of data [Relation] cause [Effect] attract cybercriminals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Circuit protection products include fuses, breakers, diodes, relays, and other components that ensure the safe function of electrical systems by guarding against surges and overcurrent.",
    "output": "[Cause] guarding against surges and overcurrent [Relation] enable [Effect] ensure the safe function of electrical systems",
    "gold": "[Cause]  guarding against surges and overcurrent [Relation] enable [Effect] ensure the safe function of electrical systems",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We predict it will elicit a high-single-digit percentage sales CAGR over the next five years given the size of the addressable market, as well as growth in e-commerce volumes.",
    "output": "[Cause] the size of the addressable market, as well as growth in e-commerce volumes [Relation] cause [Effect] it will elicit a high-single-digit percentage sales CAGR over the next five years",
    "gold": "[Cause]  the size of the addressable market, as well as growth in e-commerce volumes [Relation] cause [Effect] it will elicit a high-single-digit percentage sales CAGR over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we see incremental investments deleveraging against weaker travel demand in the near term, our 2024 operating margin (after investments wane and travel demand returns) is 19%.",
    "output": "[Cause] incremental investments deleveraging against weaker travel demand in the near term [Relation] cause [Effect] our 2024 operating margin (after investments wane and travel demand returns) is 19%",
    "gold": "[Cause]  incremental investments [Relation] cause [Effect] deleveraging against weaker travel demand in the near term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the firm has a durable position in the automotive, industrial, mobile, and communications infrastructure markets due to a combination of switching costs and intangible assets.",
    "output": "[Cause] a combination of switching costs and intangible assets [Relation] cause [Effect] the firm has a durable position in the automotive, industrial, mobile, and communications infrastructure markets",
    "gold": "[Cause]  a combination of switching costs and intangible assets [Relation] cause [Effect] the firm has a durable position in the automotive, industrial, mobile, and communications infrastructure markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The rapidly increasing worldwide demand for renewable energy has created a race to the bottom among solar manufacturers, financiers, and developers.",
    "output": "[Cause] The rapidly increasing worldwide demand for renewable energy [Relation] cause [Effect] created a race to the bottom among solar manufacturers, financiers, and developers",
    "gold": "[Cause] The rapidly increasing worldwide demand for renewable energy [Relation] cause [Effect] created a race to the bottom among solar manufacturers, financiers, and developers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition to the costs of switching suppliers in the midproduct cycle, an automotive OEM or Tier 1 can save time and money by staying with TE across multiple product cycles.",
    "output": "[Cause] staying with TE across multiple product cycles [Relation] enable [Effect] save time and money",
    "gold": "[Cause] staying with TE across multiple product cycles [Relation] enable [Effect] save time and money",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If management can achieve its target cost synergies and apply the strategies that drove Praxair's industry-leading margins to Linde's asset base, we believe the company will deliver strong returns to shareholders.",
    "output": "[Cause] management can achieve its target cost synergies and apply the strategies that drove Praxair's industry-leading margins to Linde's asset base [Relation] enable [Effect] the company will deliver strong returns to shareholders",
    "gold": "[Cause] management can achieve its target cost synergies and apply the strategies that drove Praxair's industry-leading margins to Linde's asset base [Relation] cause [Effect] the company will deliver strong returns to shareholders",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our unchanged USD 43 per tonne midcycle iron ore price acknowledges the lowering of the industry cost curve and the forecast drop-off in China's steel demand as China's economy transitions from investment-led to consumption-led growth.",
    "output": "[Cause] China's economy transitions from investment-led to consumption-led growth [Relation] cause [Effect] Our unchanged USD 43 per tonne midcycle iron ore price acknowledges the lowering of the industry cost curve and the forecast drop-off in China's steel demand",
    "gold": "[Cause]  lowering of the industry cost curve [Relation] cause [Effect]  consumption-led growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Growing scale and support from parent Deutsche Telekom have enabled T-Mobile to invest in new assets, which it has done smartly, in our view.",
    "output": "[Cause] Growing scale and support from parent Deutsche Telekom [Relation] enable [Effect] T-Mobile to invest in new assets",
    "gold": "[Cause] Growing scale and support from parent Deutsche Telekom [Relation] enable [Effect] T-Mobile to invest in new assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe this is largely attributable to increased access to international capital markets, with larger corporates and multinational corporations increasingly turning to these cheaper sources of funding.",
    "output": "[Cause] increased access to international capital markets [Relation] cause [Effect] larger corporates and multinational corporations increasingly turning to these cheaper sources of funding",
    "gold": "[Cause] increased access to international capital markets [Relation] cause [Effect] larger corporates and multinational corporations increasingly turning to these cheaper sources of funding",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's carbon emissions pose an environmental risk, but Sensata has a smaller manufacturing footprint than many of its larger peers in the electronic components industry, and we think it will move to reduce its carbon output in line with the industry.",
    "output": "[Cause] Sensata has a smaller manufacturing footprint than many of its larger peers in the electronic components industry [Relation] cause [Effect] it will move to reduce its carbon output in line with the industry",
    "gold": "[Cause] The firm's carbon emissions [Relation] cause [Effect] environmental risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Due to the potential growth opportunities in protecting user identities and network access in hybrid-cloud environments, we expect the identity access management space to be a highly contested market.",
    "output": "[Cause] the potential growth opportunities in protecting user identities and network access in hybrid-cloud environments [Relation] cause [Effect] the identity access management space to be a highly contested market",
    "gold": "[Cause] the potential growth opportunities in protecting user identities and network access in hybrid-cloud environments [Relation] cause [Effect] the identity access management space to be a highly contested market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Buoyed by trends such as urbanization, the institutionalization of real estate, and the growing tendency of corporate outsourcing, Cushman & Wakefield should post healthy growth rates as it continues to take share from its smaller, more regional and weaker rivals.",
    "output": "[Cause] it continues to take share from its smaller, more regional and weaker rivals [Relation] cause [Effect] Cushman & Wakefield should post healthy growth rates",
    "gold": "[Cause] the growing tendency of corporate outsourcing [Relation] cause [Effect]  take share from its smaller, more regional and weaker rivals",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given its scale, CBRE is one of just a few options that serve as a one-stop shop to multinational corporations that outsource their real estate operations.",
    "output": "[Cause] its scale [Relation] cause [Effect] CBRE is one of just a few options",
    "gold": "[Cause]  its scale [Relation] cause [Effect] CBRE is one of just a few options",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given its scale, CBRE is one of just a few options that serve as a one-stop shop to multinational corporations that outsource their real estate operations.",
    "output": "[Cause] CBRE is one of just a few options [Relation] enable [Effect] serve as a one-stop shop to multinational corporations that outsource their real estate operations",
    "gold": "[Cause]  a one-stop shop to multinational corporations [Relation] enable [Effect] utsource their real estate operations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Scale and cost leverage should fuel aggressive pricing rather than profitability expansion, with fiscal 2021's 5.3% mark essentially holding long term.",
    "output": "[Cause] Scale and cost leverage [Relation] enable [Effect] fuel aggressive pricing rather than profitability expansion",
    "gold": "[Cause] Scale and cost leverage should fuel aggressive pricing rather than profitability expansion [Relation] cause [Effect] fiscal 2021's 5.3% mark essentially holding long term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The over 10,000 domestic stores are strategically located in high traffic areas to generate over $13 million per store, which drives scale and helps enable the company to negotiate more effectively with suppliers.",
    "output": "[Cause] The over 10,000 domestic stores are strategically located in high traffic areas to generate over $13 million per store [Relation] enable [Effect] drives scale and helps enable the company to negotiate more effectively with suppliers",
    "gold": "[Cause] The over 10,000 domestic stores are strategically located in high traffic areas to generate over $13 million per store [Relation] cause [Effect] drives scale and helps enable the company to negotiate more effectively with suppliers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, the decrease of utilization of drugs either driven by slower new drug introductions, fewer alternative generic options or formulary constraints by the PBM would impact management's ability to leverage the significant fixed costs of maintaining stores with high rent and staffing them with pharmacists.",
    "output": "[Cause] the decrease of utilization of drugs either driven by slower new drug introductions, fewer alternative generic options or formulary constraints by the PBM [Relation] prevent [Effect] management's ability to leverage the significant fixed costs of maintaining stores with high rent and staffing them with pharmacists",
    "gold": "[Cause] the decrease of utilization of drugs either driven by slower new drug introductions, fewer alternative generic options or formulary constraints by the PBM [Relation] prevent [Effect] management's ability to leverage the significant fixed costs of maintaining stores with high rent and staffing them with pharmacists",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The change to Red Hat Enterprise Linux will either entail changing from Windows operating system, which likely means massive turnover in an enterprise's engineering team.",
    "output": "[Cause] The change to Red Hat Enterprise Linux will either entail changing from Windows operating system [Relation] cause [Effect] massive turnover in an enterprise's engineering team",
    "gold": "[Cause] The change to Red Hat Enterprise Linux will either entail changing from Windows operating system [Relation] cause [Effect]  massive turnover in an enterprise's engineering team",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lens, which can be combined with text search, is Pinterest's most innovative and interactive tool, in our opinion, as it helps users focus on any product in a pin and asks Pinterest to conduct a visual search and bring back pictures or videos of similar products.",
    "output": "[Cause] it helps users focus on any product in a pin and asks Pinterest to conduct a visual search and bring back pictures or videos of similar products [Relation] cause [Effect] Pinterest's most innovative and interactive tool",
    "gold": "[Cause] it helps users focus on any product in a pin and asks Pinterest to conduct a visual search and bring back pictures or videos of similar products [Relation] enable [Effect] Pinterest's most innovative and interactive tool",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "First Solar continues growing its pipeline of sales opportunities but will have to add production capacity to keep growth going.",
    "output": "[Cause] add production capacity [Relation] enable [Effect] keep growth going",
    "gold": "[Cause] add production capacity [Relation] enable [Effect] keep growth going",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect improvement to be driven by a recovery in the Jennie-O turkey business; it has been experienced depressed pricing the past two years due to industry oversupply, which we expect to gradually abate over the next few years.",
    "output": "[Cause] industry oversupply [Relation] cause [Effect] experienced depressed pricing the past two years",
    "gold": "[Cause] a recovery in the Jennie-O turkey business [Relation] cause [Effect]  improvement",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also expect improvement to be driven by a recovery in the Jennie-O turkey business; it has been experienced depressed pricing the past two years due to industry oversupply, which we expect to gradually abate over the next few years.",
    "output": "[Cause] industry oversupply [Relation] cause [Effect] it has been experienced depressed pricing the past two years",
    "gold": "[Cause]  industry oversupply [Relation] cause [Effect] it has been experienced depressed pricing the past two years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The group boasts strong technical capabilities, strategic assets, and long-standing partnerships with key governments, increasing the probability of participation in future programmes.",
    "output": "[Cause] The group boasts strong technical capabilities, strategic assets, and long-standing partnerships with key governments [Relation] enable [Effect] increasing the probability of participation in future programmes",
    "gold": "[Cause] The group boasts strong technical capabilities, strategic assets, and long-standing partnerships with key governments [Relation] enable [Effect] increasing the probability of participation in future programmes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Failure to demonstrate equivalency would mean that the generic product does not pass regulatory approvals. As such, generic drug producers tend to stick with binders and other functional nonactive ingredients already used in most of the patented products.",
    "output": "[Cause] Failure to demonstrate equivalency would mean that the generic product does not pass regulatory approvals [Relation] cause [Effect] generic drug producers tend to stick with binders and other functional nonactive ingredients already used in most of the patented products",
    "gold": "[Cause] Failure to demonstrate equivalency would mean that the generic product does not pass regulatory approvals [Relation] cause [Effect] generic drug producers tend to stick with binders and other functional nonactive ingredients already used in most of the patented products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Rising interest rates will compound the problem for firms with large retail fixed-income platforms, as market losses on bonds will amplify fund redemptions.",
    "output": "[Cause] Rising interest rates [Relation] cause [Effect] compound the problem for firms with large retail fixed-income platforms",
    "gold": "[Cause] market losses on bonds will amplify fund redemptions [Relation] cause [Effect] compound the problem for firms with large retail fixed-income platforms",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Rising interest rates will compound the problem for firms with large retail fixed-income platforms, as market losses on bonds will amplify fund redemptions.",
    "output": "[Cause] Rising interest rates [Relation] cause [Effect] compound the problem for firms with large retail fixed-income platforms",
    "gold": "[Cause] Rising interest rates [Relation] enable [Effect] compound the problem for firms with large retail fixed-income platforms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect the decoupling mechanisms to shield HEI's three utilities from COVID-19-related sales declines, although regulators did not contemplate this at the time the regulatory structure was passed.",
    "output": "[Cause] the decoupling mechanisms [Relation] enable [Effect] shield HEI's three utilities from COVID-19-related sales declines",
    "gold": "[Cause]  the decoupling mechanisms [Relation] enable [Effect] shield HEI's three utilities from COVID-19-related sales declines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Pivotal and VMware have collaborative product offerings, and we believe this enriches Dell Technologies' presence outside of on-premises and private clouds.",
    "output": "[Cause] Pivotal and VMware have collaborative product offerings [Relation] enable [Effect] enriches Dell Technologies' presence outside of on-premises and private clouds",
    "gold": "[Cause] Pivotal and VMware have collaborative product offerings [Relation] cause [Effect] enriches Dell Technologies' presence outside of on-premises and private clouds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Federal funding has weakened over time, as improving vehicle mileage and inflation have diminished the power of the $0.18 per gallon gasoline tax, unchanged since 1993.",
    "output": "[Cause] improving vehicle mileage and inflation have diminished the power of the $0.18 per gallon gasoline tax, unchanged since 1993 [Relation] cause [Effect] Federal funding has weakened over time",
    "gold": "[Cause] improving vehicle mileage and inflation have diminished the power of the $0.18 per gallon gasoline tax, unchanged since 1993 [Relation] cause [Effect] Federal funding has weakened over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we estimate Gap's 2021 operating margin at just 6.4%, well below pre-2019 levels, as it continues to work through cost-cutting efforts.",
    "output": "[Cause] it continues to work through cost-cutting efforts [Relation] cause [Effect] Gap's 2021 operating margin at just 6.4%, well below pre-2019 levels",
    "gold": "[Cause] it continues to work through cost-cutting efforts [Relation] cause [Effect] Gap's 2021 operating margin at just 6.4%, well below pre-2019 levels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our $60 per ADR fair value estimate for Coke Femsa is intact post third-quarter results, as strength in the Mexican peso is offset by weakness in other functional currencies as well as ongoing market challenges related to COVID-19.",
    "output": "[Cause] strength in the Mexican peso is offset by weakness in other functional currencies as well as ongoing market challenges related to COVID-19 [Relation] cause [Effect] Our $60 per ADR fair value estimate for Coke Femsa is intact post third-quarter results",
    "gold": "[Cause]  strength in the Mexican peso is offset by weakness in other functional currencies as well as ongoing market challenges related to COVID-19 [Relation] cause [Effect] Our $60 per ADR fair value estimate for Coke Femsa is intact post third-quarter results",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The acquisition of Concho Resources increases its focus on the Permian and increases total production to over 1,500 mboe/d.",
    "output": "[Cause] The acquisition of Concho Resources [Relation] enable [Effect] increases its focus on the Permian and increases total production to over 1,500 mboe/d",
    "gold": "[Cause] The acquisition of Concho Resources [Relation] enable [Effect] increases its focus on the Permian and increases total production to over 1,500 mboe/d",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, China Mobile had about a 12-month head start on its 4G network rollout, which helped it over 2015 and 2016 against its competitors, which only gained national FDD LTE licences in February 2015.",
    "output": "[Cause] China Mobile had about a 12-month head start on its 4G network rollout [Relation] enable [Effect] helped it over 2015 and 2016 against its competitors",
    "gold": "[Cause]  China Mobile had about a 12-month head start on its 4G network rollout [Relation] enable [Effect] helped it over 2015 and 2016 against its competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The material in Lululemon's apparel is significantly more expensive than in traditional athletic shirts and pants, partly accounting for its relatively high pricing.",
    "output": "[Cause] The material in Lululemon's apparel is significantly more expensive than in traditional athletic shirts and pants [Relation] cause [Effect] its relatively high pricing",
    "gold": "[Cause] The material in Lululemon's apparel is significantly more expensive than in traditional athletic shirts and pants [Relation] cause [Effect] its relatively high pricing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With approvals in rheumatoid arthritis, psoriasis, and Crohn's disease, Humira holds a wide range of indications, but biosimilar pressure in international markets will likely lead to declining sales over the next few years, and we expect U.S.",
    "output": "[Cause] approvals in rheumatoid arthritis, psoriasis, and Crohn's disease [Relation] cause [Effect] Humira holds a wide range of indications",
    "gold": "[Cause] approvals in rheumatoid arthritis, psoriasis, and Crohn's disease [Relation] enable [Effect] Humira holds a wide range of indications",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With approvals in rheumatoid arthritis, psoriasis, and Crohn's disease, Humira holds a wide range of indications, but biosimilar pressure in international markets will likely lead to declining sales over the next few years, and we expect U.S.",
    "output": "[Cause] biosimilar pressure in international markets [Relation] cause [Effect] declining sales over the next few years",
    "gold": "[Cause] biosimilar pressure in international markets [Relation] cause [Effect] declining sales over the next few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The exact features included in each tier vary and make precise comparisons challenging, but they are generally consistent with one another.",
    "output": "[Cause] The exact features included in each tier vary [Relation] cause [Effect] make precise comparisons challenging",
    "gold": "[Cause] The exact features included in each tier vary [Relation] cause [Effect] make precise comparisons challenging",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Declines in brand satisfaction could slow unit volume growth, worsen restaurant level profitability, and lead to declining attractiveness for potential franchisees.",
    "output": "[Cause] Declines in brand satisfaction [Relation] cause [Effect] slow unit volume growth, worsen restaurant level profitability, and lead to declining attractiveness for potential franchisees",
    "gold": "[Cause] Declines in brand satisfaction [Relation] cause [Effect] slow unit volume growth, worsen restaurant level profitability, and lead to declining attractiveness for potential franchisees",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given fractionation's position in the overall value chain, it only makes sense to expand capacity when new pipelines are added to deliver NGLs to the hub, and those assets are likely to be controlled by the same players who control the fractionation capacity, ensuring a rational and profitable market.",
    "output": "[Cause] fractionation's position in the overall value chain [Relation] cause [Effect] it only makes sense to expand capacity when new pipelines are added to deliver NGLs to the hub",
    "gold": "[Cause] ensuring a rational and profitable market [Relation] cause [Effect] those assets are likely to be controlled by the same players who control the fractionation capacity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given fractionation's position in the overall value chain, it only makes sense to expand capacity when new pipelines are added to deliver NGLs to the hub, and those assets are likely to be controlled by the same players who control the fractionation capacity, ensuring a rational and profitable market.",
    "output": "[Cause] those assets are likely to be controlled by the same players who control the fractionation capacity [Relation] enable [Effect] ensuring a rational and profitable market",
    "gold": "[Cause]  fractionation's position in the overall value chain [Relation] cause [Effect]  expand capacity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Polaris faces integration risk, particularly as it has become more acquisitive (TAP, Boat Holdings), and liability risk, as it self-insures against product liability claims.",
    "output": "[Cause] it self-insures against product liability claims [Relation] cause [Effect] Polaris faces integration risk, particularly as it has become more acquisitive (TAP, Boat Holdings), and liability risk",
    "gold": "[Cause] it self-insures against product liability claims [Relation] cause [Effect] Polaris faces integration risk, particularly as it has become more acquisitive (TAP, Boat Holdings), and liability risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the firm will consolidate its leading position by developing compelling new versions of its existing franchises and creating new ones like Apex Legends.",
    "output": "[Cause] developing compelling new versions of its existing franchises and creating new ones like Apex Legends [Relation] enable [Effect] the firm will consolidate its leading position",
    "gold": "[Cause] developing compelling new versions of its existing franchises and creating new ones like Apex Legends [Relation] cause [Effect] the firm will consolidate its leading position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Under Armour's international business is a growth opportunity for the company but is too small to support a brand intangible asset.",
    "output": "[Cause] Under Armour's international business [Relation] enable [Effect] a growth opportunity for the company but is too small to support a brand intangible asset",
    "gold": "[Cause] business is a growth opportunity for the company but is too small [Relation] prevent [Effect] support a brand intangible asset",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the complexity of implementation and the investment required in executing the platform, a customer would be less inclined to shift to a different vendor, giving rise to switching costs.",
    "output": "[Cause] the complexity of implementation and the investment required in executing the platform [Relation] cause [Effect] a customer would be less inclined to shift to a different vendor",
    "gold": "[Cause]  the complexity of implementation and the investment required in executing the platform [Relation] cause [Effect]  a customer would be less inclined to shift to a different vendor",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the bank may not reach its 55% efficiency ratio goal in the short term as the rate environment has pressured net interest income growth, the bank is decidedly headed in the right directions.",
    "output": "[Cause] the rate environment has pressured net interest income growth [Relation] cause [Effect] the bank may not reach its 55% efficiency ratio goal in the short term",
    "gold": "[Cause] the rate environment has pressured net interest income growth [Relation] cause [Effect]  the bank may not reach its 55% efficiency ratio goal in the short term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It is arguable, though, that S&P would benefit from such a move as its credit rating business would require fewer analysts but still receive the seal of approval attached to its ratings.",
    "output": "[Cause] its credit rating business would require fewer analysts but still receive the seal of approval attached to its ratings [Relation] cause [Effect] S&P would benefit from such a move",
    "gold": "[Cause] its credit rating business would require fewer analysts but still receive the seal of approval attached to its ratings [Relation] enable [Effect] S&P would benefit from such a move",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In hyperscale data centers, the entire technological plumbing is replaced every 12-24 months, meaning TE needs to constantly rewin designs.",
    "output": "[Cause] the entire technological plumbing is replaced every 12-24 months [Relation] cause [Effect] TE needs to constantly rewin designs",
    "gold": "[Cause] the entire technological plumbing is replaced every 12-24 months [Relation] cause [Effect] TE needs to constantly rewin designs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Late-stage clinical trials are large (requiring hundreds to thousands of patients), span sites around the globe, and come with an increasing number of regulatory and clinical requirements as disease areas are better understood.",
    "output": "[Cause] disease areas are better understood [Relation] cause [Effect] an increasing number of regulatory and clinical requirements",
    "gold": "[Cause]  an increasing number of regulatory and clinical requirements [Relation] enable [Effect] disease areas are better understood",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These include a basic menu structure and assembly line for food preparation, which reduces employee training costs while still providing a convenient consumer experience (if executed properly). As a result, Chipotle historically had been able to accommodate heavier restaurant traffic volume than casual-dining chains, which should transition well to mobile ordering, delivery, and catering options.",
    "output": "[Cause] These include a basic menu structure and assembly line for food preparation, which reduces employee training costs while still providing a convenient consumer experience (if executed properly) [Relation] cause [Effect] Chipotle historically had been able to accommodate heavier restaurant traffic volume than casual-dining chains, which should transition well to mobile ordering, delivery, and catering options",
    "gold": "[Cause] These include a basic menu structure and assembly line for food preparation, which reduces employee training costs while still providing a convenient consumer experience (if executed properly) [Relation] cause [Effect] Chipotle historically had been able to accommodate heavier restaurant traffic volume than casual-dining chains, which should transition well to mobile ordering, delivery, and catering options",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A return to social distancing restrictions could continue to compound mall traffic declines, sending higher mix of transactions through the historically less profitable e-commerce channel (which is inherently plagued by higher shipping costs).",
    "output": "[Cause] A return to social distancing restrictions [Relation] cause [Effect] compound mall traffic declines",
    "gold": "[Cause] continue to compound mall traffic declines [Relation] cause [Effect]  sending higher mix of transactions through the historically less profitable e-commerce channel (which is inherently plagued by higher shipping costs)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Once Littelfuse's products are designed into an end product, they are likely to remain in for the entire life cycle.",
    "output": "[Cause] Littelfuse's products are designed into an end product [Relation] cause [Effect] they are likely to remain in for the entire life cycle",
    "gold": "[Cause] Littelfuse's products are designed into an end product [Relation] enable [Effect] they are likely to remain in for the entire life cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Assessing Conagra's pricing power is complicated by the implementation of the firm's value-over-volume strategy over the past five years, which eliminated uneconomic promotions, making price increases appear more robust than they would have been otherwise.",
    "output": "[Cause] the implementation of the firm's value-over-volume strategy over the past five years [Relation] cause [Effect] Assessing Conagra's pricing power is complicated",
    "gold": "[Cause] the implementation of the firm's value-over-volume strategy [Relation] prevent [Effect] uneconomic promotions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Assessing Conagra's pricing power is complicated by the implementation of the firm's value-over-volume strategy over the past five years, which eliminated uneconomic promotions, making price increases appear more robust than they would have been otherwise.",
    "output": "[Cause] the implementation of the firm's value-over-volume strategy over the past five years [Relation] cause [Effect] eliminated uneconomic promotions",
    "gold": "[Cause] the implementation of the firm's value-over-volume strategy [Relation] cause [Effect] price increases appear more robust than they would have been otherwise",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While Jack Henry's business is relatively resilient, growth will likely slow in the near term, as the coronavirus pandemic leads banks to pull back on spending, and the company sees a dip in deconversion fees.",
    "output": "[Cause] the coronavirus pandemic leads banks to pull back on spending, and the company sees a dip in deconversion fees [Relation] cause [Effect] growth will likely slow in the near term",
    "gold": "[Cause]  the coronavirus pandemic leads banks to pull back on spending, and the company sees a dip in deconversion fees [Relation] cause [Effect] growth will likely slow in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The large amount of monthly active users at 200 million in turn drives more suppliers to Ctrip's platform, forming a virtuous cycle.",
    "output": "[Cause] The large amount of monthly active users at 200 million [Relation] cause [Effect] more suppliers to Ctrip's platform",
    "gold": "[Cause] The large amount of monthly active users at 200 million [Relation] cause [Effect] more suppliers to Ctrip's platform",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The large amount of monthly active users at 200 million in turn drives more suppliers to Ctrip's platform, forming a virtuous cycle.",
    "output": "[Cause] The large amount of monthly active users at 200 million [Relation] cause [Effect] more suppliers to Ctrip's platform",
    "gold": "[Cause] The large amount of monthly active users at 200 million [Relation] cause [Effect]  forming a virtuous cycle",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The integration of Frutarom represents a source of uncertainty as Frutarom, in its own right, has been highly acquisitive in recent years.",
    "output": "[Cause] Frutarom, in its own right, has been highly acquisitive in recent years [Relation] cause [Effect] The integration of Frutarom represents a source of uncertainty",
    "gold": "[Cause]  Frutarom, in its own right, has been highly acquisitive in recent years [Relation] cause [Effect] The integration of Frutarom represents a source of uncertainty",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Within commodity futures and derivatives, once an exchange achieves liquidity in a product, it becomes the cheapest venue to transact that product.",
    "output": "[Cause] an exchange achieves liquidity in a product [Relation] cause [Effect] it becomes the cheapest venue to transact that product",
    "gold": "[Cause] an exchange achieves liquidity in a product [Relation] cause [Effect]  it becomes the cheapest venue to transact that product",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To entice cruisers to travel again in 2021, we think Carnival could see further pricing pressure from 2019 levels, as future cruise credits are applied across a plethora of sailings.",
    "output": "[Cause] future cruise credits are applied across a plethora of sailings [Relation] cause [Effect] Carnival could see further pricing pressure from 2019 levels",
    "gold": "[Cause] entice cruisers to travel again in 2021 [Relation] cause [Effect] Carnival could see further pricing pressure from 2019 levels",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To entice cruisers to travel again in 2021, we think Carnival could see further pricing pressure from 2019 levels, as future cruise credits are applied across a plethora of sailings.",
    "output": "[Cause] future cruise credits are applied across a plethora of sailings [Relation] cause [Effect] Carnival could see further pricing pressure from 2019 levels",
    "gold": "[Cause]  future cruise credits are applied across a plethora of sailings [Relation] cause [Effect] Carnival could see further pricing pressure from 2019 levels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The national networks have been able to offset some of this loss by either selling content to the streaming platforms or creating their own direct-to-consumer offerings, an avenue largely denied to local station owners due to the lack of a content library.",
    "output": "[Cause] the lack of a content library [Relation] cause [Effect] an avenue largely denied to local station owners",
    "gold": "[Cause]  either selling content to the streaming platforms or creating their own direct-to-consumer offerings [Relation] prevent [Effect] some of this loss",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The national networks have been able to offset some of this loss by either selling content to the streaming platforms or creating their own direct-to-consumer offerings, an avenue largely denied to local station owners due to the lack of a content library.",
    "output": "[Cause] the lack of a content library [Relation] cause [Effect] an avenue largely denied to local station owners",
    "gold": "[Cause] the lack of a content library [Relation] cause [Effect] an avenue largely denied to local station owners",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The biggest risk for the firm is the acreage is never drilled and developed, and thus there is no production to pay royalties on. Thus, Viper is indirectly exposed to Diamondback's financial ability and willingness to drill wells on its acreage, any regulatory headwinds (particularly environmental), and a weaker oil and gas outlook.",
    "output": "[Cause] The biggest risk for the firm is the acreage is never drilled and developed, and thus there is no production to pay royalties on [Relation] cause [Effect] Viper is indirectly exposed to Diamondback's financial ability and willingness to drill wells on its acreage, any regulatory headwinds (particularly environmental), and a weaker oil and gas outlook",
    "gold": "[Cause] The biggest risk for the firm is the acreage is never drilled and developed, and thus there is no production to pay royalties on [Relation] cause [Effect] Viper is indirectly exposed to Diamondback's financial ability and willingness to drill wells on its acreage, any regulatory headwinds (particularly environmental), and a weaker oil and gas outlook",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the firm is unable to effectively source and integrate new employees, it could stymie innovation and impact Cadence's competitive positioning.",
    "output": "[Cause] the firm is unable to effectively source and integrate new employees [Relation] cause [Effect] it could stymie innovation and impact Cadence's competitive positioning",
    "gold": "[Cause] the firm is unable to effectively source and integrate new employees [Relation] enable [Effect] it could stymie innovation and impact Cadence's competitive positioning",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Many of Federal's shopping centers feature a grocery store as an anchor, so an anchor losing traffic will hurt the business of all stores in the center.",
    "output": "[Cause] Many of Federal's shopping centers feature a grocery store as an anchor [Relation] cause [Effect] an anchor losing traffic will hurt the business of all stores in the center",
    "gold": "[Cause] Many of Federal's shopping centers feature a grocery store as an anchor [Relation] cause [Effect] an anchor losing traffic will hurt the business of all stores in the center",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This is because weak macroeconomics (resulting in weaker demand and pricing for ads), a substantial increase in ad inventory by Bytedance and Tencent, moving customers' landing pages to Baidu's platform and COVID-19 play an important role in the current weakness.",
    "output": "[Cause] weak macroeconomics [Relation] cause [Effect] weaker demand and pricing for ads",
    "gold": "[Cause]  weak macroeconomics (resulting in weaker demand and pricing for ads), a substantial increase in ad inventory by Bytedance and Tencent, moving customers' landing pages to Baidu's platform and COVID-19 [Relation] cause [Effect] current weakness",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nonetheless, we think that Skyworks' sustainable competitive advantage lies within its expertise in RF integration, design, packaging, and other RF parts like power amplifiers, not necessarily filter expertise.",
    "output": "[Cause] its expertise in RF integration, design, packaging, and other RF parts like power amplifiers, not necessarily filter expertise [Relation] enable [Effect] Skyworks' sustainable competitive advantage",
    "gold": "[Cause] its expertise in RF integration, design, packaging, and other RF parts like power amplifiers, not necessarily filter expertise [Relation] cause [Effect] Skyworks' sustainable competitive advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the companion side, Zoetis benefits from pet owners' increasingly strong relationships with pets as members of the family, which drastically increases their willingness to pay for expensive treatments.",
    "output": "[Cause] Zoetis benefits from pet owners' increasingly strong relationships with pets as members of the family [Relation] cause [Effect] drastically increases their willingness to pay for expensive treatments",
    "gold": "[Cause]  Zoetis benefits from pet owners' increasingly strong relationships with pets as members of the family [Relation] enable [Effect] drastically increases their willingness to pay for expensive treatments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Eastman achieves high margins in acetate tow production by using coal as a feedstock, which provides a favorable cost profile versus marginal producers who use crude oil.",
    "output": "[Cause] Eastman achieves high margins in acetate tow production by using coal as a feedstock [Relation] enable [Effect] provides a favorable cost profile versus marginal producers who use crude oil",
    "gold": "[Cause] Eastman achieves high margins in acetate tow production by using coal as a feedstock [Relation] cause [Effect]  provides a favorable cost profile versus marginal producers who use crude oil",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the company's October 2020 acquisition of Livongo, a leader in virtual diabetes care management, provides a lucrative end market and a potential competitive advantage.",
    "output": "[Cause] the company's October 2020 acquisition of Livongo [Relation] enable [Effect] provides a lucrative end market and a potential competitive advantage",
    "gold": "[Cause] the company's October 2020 acquisition of Livongo [Relation] enable [Effect] provides a lucrative end market and a potential competitive advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In a macroeconomic downturn that depresses GDP growth and causes customer capital investment to decline, Zebra's ability to generate revenue growth would slow.",
    "output": "[Cause] a macroeconomic downturn that depresses GDP growth and causes customer capital investment to decline [Relation] cause [Effect] Zebra's ability to generate revenue growth would slow",
    "gold": "[Cause] In a macroeconomic downturn [Relation] cause [Effect] depresses GDP growth and causes customer capital investment to decline, Zebra's ability to generate revenue growth would slow",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Peers have had some time to catch up with Align's product complexity and automated production expertise through internal development and acquisitions, which should have an adverse impact on the company's competitive positioning.",
    "output": "[Cause] Peers have had some time to catch up with Align's product complexity and automated production expertise through internal development and acquisitions [Relation] cause [Effect] have an adverse impact on the company's competitive positioning",
    "gold": "[Cause] Peers have had some time to catch up with Align's product complexity and automated production expertise through internal development and acquisitions [Relation] cause [Effect] have an adverse impact on the company's competitive positioning",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fierce competition during the consolidation phase could raise acquisition prices too much for Grubhub, more likely than not minimizing return on such a necessary investment.",
    "output": "[Cause] Fierce competition during the consolidation phase [Relation] cause [Effect] raise acquisition prices too much for Grubhub",
    "gold": "[Cause] Fierce competition during the consolidation phase [Relation] enable [Effect] raise acquisition prices too much for Grubhub",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the relaunch of Indian in 2013 and the continued evolution of on- and off-road products (Slingshot and Ace launched in 2014, for example) should drive domestic demand, small vehicles could experience robust growth overseas.",
    "output": "[Cause] the relaunch of Indian in 2013 and the continued evolution of on- and off-road products [Relation] enable [Effect] domestic demand",
    "gold": "[Cause]  the relaunch of Indian in 2013 and the continued evolution of on- and off-road products [Relation] enable [Effect]  domestic demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Teleflex has a leading market position in CVCs, and though this does not guarantee future returns, we contend that Teleflex's portfolio of antimicrobial catheters will ensure the continuation of market leadership through the current innovation cycle.",
    "output": "[Cause] Teleflex's portfolio of antimicrobial catheters [Relation] enable [Effect] ensure the continuation of market leadership through the current innovation cycle",
    "gold": "[Cause] Teleflex's portfolio of antimicrobial catheters [Relation] enable [Effect] ensure the continuation of market leadership through the current innovation cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We continue to think the treasure hunt format should retain appeal with product availability staying high; however, deviation from this expectation (possibly spurred by lingering effects from significant e-commerce growth during the pandemic) could lead performance to deviate.",
    "output": "[Cause] lingering effects from significant e-commerce growth during the pandemic [Relation] cause [Effect] deviation from this expectation",
    "gold": "[Cause] deviation from this expectation [Relation] cause [Effect] performance to deviate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We continue to think the treasure hunt format should retain appeal with product availability staying high; however, deviation from this expectation (possibly spurred by lingering effects from significant e-commerce growth during the pandemic) could lead performance to deviate.",
    "output": "[Cause] deviation from this expectation [Relation] cause [Effect] performance to deviate",
    "gold": "[Cause] lingering effects from significant e-commerce growth during the pandemic [Relation] cause [Effect] deviation from this expectation",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Deepwater capital expenditure is still near trough levels, hampering profitability for Frank's, given that deepwater has traditionally yielded the highest market share and margins for the company.",
    "output": "[Cause] deepwater has traditionally yielded the highest market share and margins for the company [Relation] cause [Effect] Deepwater capital expenditure is still near trough levels, hampering profitability for Frank's",
    "gold": "[Cause] deepwater has traditionally yielded the highest market share and margins for the company [Relation] cause [Effect] Deepwater capital expenditure is still near trough levels, hampering profitability for Frank's",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The investment in LNG production allows Chevron to preserve its peer-leading liquids exposure as prices are largely indexed to oil.",
    "output": "[Cause] prices are largely indexed to oil [Relation] enable [Effect] The investment in LNG production allows Chevron to preserve its peer-leading liquids exposure",
    "gold": "[Cause]  prices are largely indexed to oil [Relation] cause [Effect] The investment in LNG production allows Chevron to preserve its peer-leading liquids exposure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our margin forecast is based on price increases offsetting cost inflation and higher volume providing leverage over fixed costs (mostly overhead costs).",
    "output": "[Cause] price increases offsetting cost inflation [Relation] cause [Effect] Our margin forecast",
    "gold": "[Cause] price increases offsetting cost inflation [Relation] enable [Effect] Our margin forecast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our margin forecast is based on price increases offsetting cost inflation and higher volume providing leverage over fixed costs (mostly overhead costs).",
    "output": "[Cause] price increases offsetting cost inflation [Relation] cause [Effect] Our margin forecast",
    "gold": "[Cause] higher volume [Relation] enable [Effect] leverage over fixed costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With its focus on high-quality Class A office properties in dense and space-constrained central business districts, Boston Properties continues to attract reputable, investment-grade tenants.",
    "output": "[Cause] its focus on high-quality Class A office properties in dense and space-constrained central business districts [Relation] enable [Effect] Boston Properties continues to attract reputable, investment-grade tenants",
    "gold": "[Cause] its focus on high-quality Class A office properties in dense and space-constrained central business districts [Relation] cause [Effect] Boston Properties continues to attract reputable, investment-grade tenants",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Burger King's master franchisee joint venture structure is important to our longer-term growth and ROIC estimates, we believe the company's relationships with existing conventional franchisees have also improved under 3G's stewardship.",
    "output": "[Cause] 3G's stewardship [Relation] enable [Effect] the company's relationships with existing conventional franchisees have also improved",
    "gold": "[Cause] 3G's stewardship [Relation] enable [Effect]  the company's relationships with existing conventional franchisees have also improved",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Healthpeak has high-quality assets in top markets that attract credit-grade tenants in both segments, so we believe it makes sense to strategically focus the company on the segments where it has an advantage.",
    "output": "[Cause] Healthpeak has high-quality assets in top markets that attract credit-grade tenants in both segments [Relation] cause [Effect] strategically focus the company on the segments where it has an advantage",
    "gold": "[Cause] Healthpeak has high-quality assets in top markets that attract credit-grade tenants in both segments [Relation] enable [Effect] strategically focus the company on the segments where it has an advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ferguson's prospects have improved as a result of better pricing discipline and a strategic shift to the attractive North American market, and we expect the company to return to solid growth in the near term as the North American market recovers.",
    "output": "[Cause] better pricing discipline and a strategic shift to the attractive North American market [Relation] cause [Effect] Ferguson's prospects have improved",
    "gold": "[Cause] better pricing discipline and a strategic shift to the attractive North American market [Relation] cause [Effect] Ferguson's prospects have improved",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "New commercial HVAC, building automation, and fire and security systems are a large investment that can require lengthy installation time. As such, we believe building operators would be reluctant to completely replace entire HVAC, building automation, and fire and security systems and instead prefer to upgrade, retrofit, or reconfigure existing systems to adapt to changing technology, regulatory standards, and user requirements.",
    "output": "[Cause] New commercial HVAC, building automation, and fire and security systems are a large investment that can require lengthy installation time [Relation] cause [Effect] building operators would be reluctant to completely replace entire HVAC, building automation, and fire and security systems and instead prefer to upgrade, retrofit, or reconfigure existing systems to adapt to changing technology, regulatory standards, and user requirements",
    "gold": "[Cause] New commercial HVAC, building automation, and fire and security systems are a large investment that can require lengthy installation time [Relation] cause [Effect] building operators would be reluctant to completely replace entire HVAC, building automation, and fire and security systems and instead prefer to upgrade, retrofit, or reconfigure existing systems to adapt to changing technology, regulatory standards, and user requirements",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Considering recent investments that have been made to enhance Coloplast's product portfolio, build out infrastructure in developing geographies, fund R&D efforts, and lower manufacturing costs, we remain favorable about the long-term earnings growth that Coloplast can deliver.",
    "output": "[Cause] recent investments that have been made to enhance Coloplast's product portfolio, build out infrastructure in developing geographies, fund R&D efforts, and lower manufacturing costs [Relation] enable [Effect] we remain favorable about the long-term earnings growth that Coloplast can deliver",
    "gold": "[Cause]  recent investments that have been made to enhance Coloplast's product portfolio, build out infrastructure in developing geographies, fund R&D efforts, and lower manufacturing costs [Relation] enable [Effect] we remain favorable about the long-term earnings growth that Coloplast can deliver",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we expect the service to continue to gain users in the U.S., most revenue growth will come from higher ad rates and subscription sales.",
    "output": "[Cause] higher ad rates and subscription sales [Relation] enable [Effect] most revenue growth",
    "gold": "[Cause] higher ad rates and subscription sales [Relation] enable [Effect] most revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Expense leverage should create some long-term adjusted operating margin improvement relative to fiscal 2019's 11.8% mark, but we only expect expansion into the low- to midteens over our explicit forecast.",
    "output": "[Cause] Expense leverage [Relation] enable [Effect] create some long-term adjusted operating margin improvement relative to fiscal 2019's 11.8% mark",
    "gold": "[Cause] fiscal 2019's 11.8% mark [Relation] cause [Effect] Expense leverage should create some long-term adjusted operating margin improvement",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect advisory services revenue to grow in the midsingle digits as CBRE continues to take share from smaller brokers.",
    "output": "[Cause] CBRE continues to take share from smaller brokers [Relation] cause [Effect] advisory services revenue to grow in the midsingle digits",
    "gold": "[Cause] CBRE continues to take share from smaller brokers [Relation] cause [Effect] advisory services revenue to grow in the midsingle digits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And Hess has failed to consistently do so over the past decade because of historically poor capital allocation (which resulted in $10 billion of cumulative write-downs from 2010 to 2020).",
    "output": "[Cause] historically poor capital allocation [Relation] cause [Effect] Hess has failed to consistently do so over the past decade",
    "gold": "[Cause] historically poor capital allocation [Relation] cause [Effect] Hess has failed to consistently do so over the past decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While some of the fervor for equity trading may subside over coming quarters, as market volatility reduces and self-quarantining is lifted, we believe that retail equity trading volume and interest will remain high compared with 2019 due to many retail brokerage firms offering $0-trading commissions.",
    "output": "[Cause] market volatility reduces and self-quarantining is lifted [Relation] cause [Effect] some of the fervor for equity trading may subside over coming quarters",
    "gold": "[Cause]  market volatility reduces and self-quarantining is lifted [Relation] cause [Effect] some of the fervor for equity trading may subside over coming quarters",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While some of the fervor for equity trading may subside over coming quarters, as market volatility reduces and self-quarantining is lifted, we believe that retail equity trading volume and interest will remain high compared with 2019 due to many retail brokerage firms offering $0-trading commissions.",
    "output": "[Cause] many retail brokerage firms offering $0-trading commissions [Relation] cause [Effect] retail equity trading volume and interest will remain high compared with 2019",
    "gold": "[Cause]  many retail brokerage firms offering $0-trading commissions [Relation] cause [Effect] retail equity trading volume and interest will remain high compared with 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Considering the firm's strong grip on expense control, we expect the operating profit margin to rise by roughly 270 basis points in 2020.",
    "output": "[Cause] the firm's strong grip on expense control [Relation] cause [Effect] the operating profit margin to rise by roughly 270 basis points in 2020",
    "gold": "[Cause] the firm's strong grip on expense control [Relation] cause [Effect] the operating profit margin to rise by roughly 270 basis points in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, we expect revenue to grow on average about 7% annually for the next five years as Vivendi benefits from increased streaming music usage and international penetration at Canal+.",
    "output": "[Cause] Vivendi benefits from increased streaming music usage and international penetration at Canal+ [Relation] cause [Effect] revenue to grow on average about 7% annually for the next five years",
    "gold": "[Cause]  Vivendi benefits from increased streaming music usage and international penetration at Canal+ [Relation] enable [Effect] revenue to grow on average about 7% annually for the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Firms have a significant incentive to chase growth without regard for profitability, a cycle that repeats itself as competitors are forced to match artificially low prices or risk losing business.",
    "output": "[Cause] competitors are forced to match artificially low prices [Relation] cause [Effect] a cycle that repeats itself",
    "gold": "[Cause] a cycle [Relation] enable [Effect] match artificially low prices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Firms have a significant incentive to chase growth without regard for profitability, a cycle that repeats itself as competitors are forced to match artificially low prices or risk losing business.",
    "output": "[Cause] competitors are forced to match artificially low prices or risk losing business [Relation] cause [Effect] a cycle that repeats itself",
    "gold": "[Cause] match artificially low prices [Relation] prevent [Effect] risk losing business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Increasing regulation, and the complexities involved with international taxation, should allow the firm to leverage economies of scale in its development of a tax and accounting database, which becomes incrementally better each time a user engages with its search functionalities.",
    "output": "[Cause] Increasing regulation, and the complexities involved with international taxation [Relation] enable [Effect] the firm to leverage economies of scale in its development of a tax and accounting database",
    "gold": "[Cause] Increasing regulation, and the complexities involved with international taxation [Relation] cause [Effect] becomes incrementally better each time a user engages with its search functionalities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In exchange for earning a fair return for its shareholders, HEI's utilities are expected to provide safe and reliable service at the lowest possible rates.",
    "output": "[Cause] In exchange for earning a fair return for its shareholders [Relation] enable [Effect] HEI's utilities are expected to provide safe and reliable service at the lowest possible rates",
    "gold": "[Cause] In exchange for earning a fair return for its shareholders [Relation] enable [Effect] HEI's utilities are expected to provide safe and reliable service at the lowest possible rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "During the next five years, Total plans to direct about 15% of its capital spending toward renewable power generation, lifting its gross capacity to 25 GW from 7 GW today.",
    "output": "[Cause] Total plans to direct about 15% of its capital spending toward renewable power generation [Relation] enable [Effect] lifting its gross capacity to 25 GW from 7 GW today",
    "gold": "[Cause] Total plans to direct about 15% of its capital spending toward renewable power generation [Relation] enable [Effect] lifting its gross capacity to 25 GW from 7 GW today",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume earned premiums increase at a fairly modest 2% compound annual growth rate over our projection period, as we expect recent price increases to fade.",
    "output": "[Cause] recent price increases to fade [Relation] cause [Effect] earned premiums increase at a fairly modest 2% compound annual growth rate over our projection period",
    "gold": "[Cause] recent price increases to fade [Relation] cause [Effect] earned premiums increase at a fairly modest 2% compound annual growth rate over our projection period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's marquee product in this segment is Valor Glass, which reduces particle contamination in pharmaceutical packaging and elevates production throughput via reduced breaking or cracking compared with incumbent pharmaceutical glass.",
    "output": "[Cause] reduced breaking or cracking compared with incumbent pharmaceutical glass [Relation] enable [Effect] elevates production throughput",
    "gold": "[Cause] The firm's marquee product in this segment is Valor Glass [Relation] cause [Effect] reduces particle contamination in pharmaceutical packaging and elevates production throughput via reduced breaking or cracking compared with incumbent pharmaceutical glass",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Icon has done well in focusing on driving trial efficiencies, with consulting services and technology for patient identification and clinical trial management. As a result, we expect the firm to profit from near-term increases in outsourcing, but we are closely watching nascent trends in drug development, including the potential of real-world evidence and the use of data and analytics to reduce a drug's time to market.",
    "output": "[Cause] Icon has done well in focusing on driving trial efficiencies, with consulting services and technology for patient identification and clinical trial management [Relation] cause [Effect] the firm to profit from near-term increases in outsourcing, but we are closely watching nascent trends in drug development, including the potential of real-world evidence and the use of data and analytics to reduce a drug's time to market",
    "gold": "[Cause] Icon has done well in focusing on driving trial efficiencies, with consulting services and technology for patient identification and clinical trial management [Relation] cause [Effect] the firm to profit from near-term increases in outsourcing, but we are closely watching nascent trends in drug development, including the potential of real-world evidence and the use of data and analytics to reduce a drug's time to market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Challenges to economic profit  First, given that the cannabis industry remains in the growth stage, we think that years of significant investment will be necessary to support the robust growth in the industry.",
    "output": "[Cause] years of significant investment [Relation] enable [Effect] support the robust growth in the industry",
    "gold": "[Cause]  the cannabis industry remains in the growth stage [Relation] cause [Effect] years of significant investment will be necessary to support the robust growth in the industry",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This substantial R&amp;D spending ensures that the company's pipeline of proprietary formulations remains strong and helps the company stay ahead of the curve in identifying and servicing new customer trends.",
    "output": "[Cause] This substantial R&amp;D spending [Relation] enable [Effect] the company's pipeline of proprietary formulations remains strong and helps the company stay ahead of the curve in identifying and servicing new customer trends",
    "gold": "[Cause]  the company's pipeline of proprietary formulations remains strong [Relation] enable [Effect]  the company stay ahead of the curve in identifying and servicing new customer trends",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Graco's engineering capabilities, reputation for quality, and experience with handling difficult-to-move liquids are key differentiators that have allowed it to establish a strong competitive position across all the markets it competes in.",
    "output": "[Cause] Graco's engineering capabilities, reputation for quality, and experience with handling difficult-to-move liquids [Relation] enable [Effect] establish a strong competitive position across all the markets it competes in",
    "gold": "[Cause] Graco's engineering capabilities, reputation for quality, and experience with handling difficult-to-move liquids [Relation] enable [Effect] establish a strong competitive position across all the markets it competes in",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "CrowdStrike, known for its prowess in threat hunting and remediation, may lose credibility if customers experience breaches while using CrowdStrike's solutions.",
    "output": "[Cause] customers experience breaches while using CrowdStrike's solutions [Relation] cause [Effect] lose credibility",
    "gold": "[Cause] known for its prowess in threat hunting and remediation [Relation] cause [Effect]  lose credibility",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Moats for chipmakers with analog and MCU expertise tend to come from intangible assets associated with the strength of proprietary chip designs, as well as switching costs that make it difficult to swap out analog chips for competing offerings once they are designed into a given electronic device.",
    "output": "[Cause] intangible assets associated with the strength of proprietary chip designs, as well as switching costs [Relation] cause [Effect] Moats for chipmakers with analog and MCU expertise tend to come",
    "gold": "[Cause] make it difficult to swap out analog chips for competing offerings once they are designed into a given electronic device [Relation] cause [Effect] Moats for chipmakers with analog and MCU expertise tend to come from intangible assets associated with the strength of proprietary chip designs, as well as switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the 2010 Macondo oil spill was primarily blamed on the E&P operator (BP), Halliburton did take a share of the liability as the provider of cementing and other services. As a result, the company incurred nearly $1.5 billion in expenses, of which only about one third was reimbursed by insurers.",
    "output": "[Cause] While the 2010 Macondo oil spill was primarily blamed on the E&P operator (BP), Halliburton did take a share of the liability as the provider of cementing and other services [Relation] cause [Effect] the company incurred nearly $1.5 billion in expenses, of which only about one third was reimbursed by insurers",
    "gold": "[Cause] While the 2010 Macondo oil spill was primarily blamed on the E&P operator (BP), Halliburton did take a share of the liability as the provider of cementing and other services [Relation] cause [Effect] the company incurred nearly $1.5 billion in expenses, of which only about one third was reimbursed by insurers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the refined products markets is demand driven, customer credit is not usually relevant, as if one customer lowers utilization, another one steps in.",
    "output": "[Cause] the refined products markets is demand driven [Relation] cause [Effect] customer credit is not usually relevant",
    "gold": "[Cause] the refined products markets is demand driven [Relation] cause [Effect] customer credit is not usually relevant",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the refined products markets is demand driven, customer credit is not usually relevant, as if one customer lowers utilization, another one steps in.",
    "output": "[Cause] if one customer lowers utilization, another one steps in [Relation] cause [Effect] customer credit is not usually relevant",
    "gold": "[Cause]  if one customer lowers utilization, another one steps in [Relation] cause [Effect] customer credit is not usually relevant",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Balchem's consistent free cash flow generation should allow the company to maintain a strong financial condition and capitalize on value-accretive M&A opportunities when they arise.",
    "output": "[Cause] Balchem's consistent free cash flow generation [Relation] enable [Effect] the company to maintain a strong financial condition and capitalize on value-accretive M&A opportunities when they arise",
    "gold": "[Cause] Balchem's consistent free cash flow generation [Relation] enable [Effect] the company to maintain a strong financial condition and capitalize on value-accretive M&A opportunities when they arise",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For these reasons, we think Apple and Samsung have an advantage over Garmin, stemming from their dominance in the smartphone market.",
    "output": "[Cause] their dominance in the smartphone market [Relation] cause [Effect] Apple and Samsung have an advantage over Garmin",
    "gold": "[Cause]  these reasons [Relation] cause [Effect] we think Apple and Samsung have an advantage over Garmin, stemming from their dominance in the smartphone market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, foreign exchange exposure could prove unpredictable as the firm grows internationally, as we have seen the dollar and euro trend widely versus the Canadian dollar (BRP's home currency) in recent years.",
    "output": "[Cause] the dollar and euro trend widely versus the Canadian dollar (BRP's home currency) in recent years [Relation] cause [Effect] foreign exchange exposure could prove unpredictable as the firm grows internationally",
    "gold": "[Cause] seen the dollar and euro trend widely versus the Canadian dollar [Relation] cause [Effect]  foreign exchange exposure could prove unpredictable",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We estimate slightly faster 4.6% average annual revenue growth from the restorative therapies group through fiscal 2025, driven by adoption of new technologies in neuromodulation and neurovascular and a return to growth of the spine business thanks to the addition of the Mazor robot.",
    "output": "[Cause] adoption of new technologies in neuromodulation and neurovascular [Relation] cause [Effect] slightly faster 4.6% average annual revenue growth from the restorative therapies group through fiscal 2025",
    "gold": "[Cause] adoption of new technologies in neuromodulation and neurovascular [Relation] cause [Effect] slightly faster 4.6% average annual revenue growth from the restorative therapies group through fiscal 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We estimate slightly faster 4.6% average annual revenue growth from the restorative therapies group through fiscal 2025, driven by adoption of new technologies in neuromodulation and neurovascular and a return to growth of the spine business thanks to the addition of the Mazor robot.",
    "output": "[Cause] adoption of new technologies in neuromodulation and neurovascular and a return to growth of the spine business thanks to the addition of the Mazor robot [Relation] cause [Effect] slightly faster 4.6% average annual revenue growth from the restorative therapies group through fiscal 2025",
    "gold": "[Cause] the addition of the Mazor robot [Relation] cause [Effect] a return to growth of the spine business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For example, the wireline evaluation businesses of Schlumberger or Halliburton must collaborate closely with Core in order to calibrate their wireline equipment using Core's real petrophysical data samples.",
    "output": "[Cause] calibrate their wireline equipment using Core's real petrophysical data samples [Relation] cause [Effect] the wireline evaluation businesses of Schlumberger or Halliburton must collaborate closely with Core",
    "gold": "[Cause] calibrate their wireline equipment using Core's real petrophysical data samples [Relation] cause [Effect] the wireline evaluation businesses of Schlumberger or Halliburton must collaborate closely with Core",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Today, we see that Facebook, Instagram, Messenger, and the different features and apps surrounding them have increased user engagement on various devices.",
    "output": "[Cause] Facebook, Instagram, Messenger, and the different features and apps surrounding them [Relation] enable [Effect] increased user engagement on various devices",
    "gold": "[Cause] Facebook, Instagram, Messenger, and the different features and apps surrounding them [Relation] cause [Effect] increased user engagement on various devices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Afterward, we expect the cadence to hit management's 10% annual store count expansion target from 2021-23, on average, before tapering into the midsingle digits as the store network grows.",
    "output": "[Cause] the store network grows [Relation] cause [Effect] tapering into the midsingle digits",
    "gold": "[Cause] the store network grows [Relation] cause [Effect] tapering into the midsingle digits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that increased enterprise adoption will lower churn and lead to higher seat penetration, further cementing RingCentral's position as a leader in the UCaaS space.",
    "output": "[Cause] increased enterprise adoption [Relation] cause [Effect] lower churn and lead to higher seat penetration",
    "gold": "[Cause] increased enterprise adoption [Relation] enable [Effect] lower churn and lead to higher seat penetration",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The pressure to manufacture more environmentally friendly products is forcing truck OEMs to evaluate whether it's economically viable to continue producing their own engines and components or to partner with a market leader like Cummins.",
    "output": "[Cause] The pressure to manufacture more environmentally friendly products [Relation] cause [Effect] truck OEMs to evaluate whether it's economically viable to continue producing their own engines and components or to partner with a market leader like Cummins",
    "gold": "[Cause] The pressure to manufacture more environmentally friendly products [Relation] cause [Effect]  truck OEMs to evaluate whether it's economically viable to continue producing their own engines and components or to partner with a market leader like Cummins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also see clinical risks since a lower predictive value than expected could make regulatory approval and widespread payer coverage challenging.",
    "output": "[Cause] a lower predictive value than expected could make regulatory approval and widespread payer coverage challenging [Relation] cause [Effect] clinical risks",
    "gold": "[Cause]  a lower predictive value than expected could make regulatory approval and widespread payer coverage challenging [Relation] cause [Effect]  clinical risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While some board and monitors may be placed into storage, we think the large installed base gains during the pandemic will accelerate a shift into the general ward, as hospitals will be reluctant to put purchased capital into storage.",
    "output": "[Cause] hospitals will be reluctant to put purchased capital into storage [Relation] cause [Effect] the large installed base gains during the pandemic will accelerate a shift into the general ward",
    "gold": "[Cause]  hospitals will be reluctant to put purchased capital into storage [Relation] cause [Effect] the large installed base gains during the pandemic will accelerate a shift into the general ward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, Fluor's financial filings were delayed as the firm was subject to an SEC investigation into the firm's accounting for project charges taken in the second quarter of 2019.",
    "output": "[Cause] the firm was subject to an SEC investigation into the firm's accounting for project charges taken in the second quarter of 2019 [Relation] cause [Effect] Fluor's financial filings were delayed",
    "gold": "[Cause]  the firm was subject to an SEC investigation into the firm's accounting for project charges taken in the second quarter of 2019 [Relation] cause [Effect] Fluor's financial filings were delayed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Holding constant Amazon insourcing more of its own package delivery needs, we think it's unlikely that any other company will attempt to replicate a truly global parcel shipping network. This is because of the immense financial losses an upstart would incur while trying to amass the volume and network density necessary to absorb the remarkably high capital outlays and fixed costs associated with a national or global parcel delivery network.",
    "output": "[Cause] the immense financial losses an upstart would incur while trying to amass the volume and network density necessary to absorb the remarkably high capital outlays and fixed costs associated with a national or global parcel delivery network [Relation] cause [Effect] Holding constant Amazon insourcing more of its own package delivery needs, we think it's unlikely that any other company will attempt to replicate a truly global parcel shipping network",
    "gold": "[Cause]  the immense financial losses an upstart would incur while trying to amass the volume and network density necessary to absorb the remarkably high capital outlays and fixed costs associated with a national or global parcel delivery network [Relation] cause [Effect] Holding constant Amazon insourcing more of its own package delivery needs, we think it's unlikely that any other company will attempt to replicate a truly global parcel shipping network",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "WW's recruitment struggles from 2012-15 and in early 2019 raise questions about the longer-term pricing power of its brand intangible asset.",
    "output": "[Cause] WW's recruitment struggles from 2012-15 and in early 2019 [Relation] cause [Effect] raise questions about the longer-term pricing power of its brand intangible asset",
    "gold": "[Cause] WW's recruitment struggles from 2012-15 and in early 2019 [Relation] cause [Effect] raise questions about the longer-term pricing power of its brand intangible asset",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "VMware is well entrenched in one of the most mission-critical pieces of networking operations, and we believe its burgeoning product offerings will be on customers' short list of potential vendors during network upgrades.",
    "output": "[Cause] VMware is well entrenched in one of the most mission-critical pieces of networking operations [Relation] cause [Effect] its burgeoning product offerings will be on customers' short list of potential vendors during network upgrades",
    "gold": "[Cause] network upgrades [Relation] enable [Effect] its burgeoning product offerings will be on customers' short list of potential vendors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Allegion's failure to keep pace with global green building standards could result in reputational risk and lost market share, but we see a low probability of this risk materializing.",
    "output": "[Cause] Allegion's failure to keep pace with global green building standards [Relation] cause [Effect] reputational risk and lost market share",
    "gold": "[Cause] Allegion's failure to keep pace with global green building standards [Relation] cause [Effect]  reputational risk and lost market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In parallel to this transformation, the employment of analytical tools will be critical to better positioning Cerner as a key partner in navigating the evolution of payment systems that will increasingly de-emphasize the current fee-for-service model in favor of fee for value.",
    "output": "[Cause] the employment of analytical tools [Relation] enable [Effect] better positioning Cerner as a key partner in navigating the evolution of payment systems",
    "gold": "[Cause]  the employment of analytical tools [Relation] enable [Effect] better positioning Cerner as a key partner in navigating the evolution of payment systems",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because Sun Life is an established player operating primarily in a mature set of markets, we continue to expect fairly muted top-line growth for its core Canadian operations.",
    "output": "[Cause] Sun Life is an established player operating primarily in a mature set of markets [Relation] cause [Effect] fairly muted top-line growth for its core Canadian operations",
    "gold": "[Cause] Sun Life is an established player operating primarily in a mature set of markets [Relation] cause [Effect] fairly muted top-line growth for its core Canadian operations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The relative affordability of these other housing options keeps Equity Residential's ability to set high initial rents and pass along rent increases in check.",
    "output": "[Cause] The relative affordability of these other housing options [Relation] enable [Effect] Equity Residential's ability to set high initial rents and pass along rent increases in check",
    "gold": "[Cause] The relative affordability of these other housing options [Relation] enable [Effect] Equity Residential's ability to set high initial rents and pass along rent increases in check",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Telefonica is set to achieve margin expansion owing to cost-cutting (digitalization, personnel cuts, lower content and copper costs).",
    "output": "[Cause] cost-cutting (digitalization, personnel cuts, lower content and copper costs) [Relation] cause [Effect] Telefonica is set to achieve margin expansion",
    "gold": "[Cause] Telefonica is set to achieve margin expansion [Relation] cause [Effect] cost-cutting (digitalization, personnel cuts, lower content and copper costs)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With a largely fixed-cost base, deteriorating fixed-line revenue has a large negative impact on margins (fixed line contributes around 23% of KT's revenue), but we think fixed lines are still providing decent returns for KT.",
    "output": "[Cause] a largely fixed-cost base [Relation] cause [Effect] deteriorating fixed-line revenue has a large negative impact on margins",
    "gold": "[Cause]  a largely fixed-cost base [Relation] cause [Effect]  deteriorating fixed-line revenue has a large negative impact on margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If these providers ever chose to leave, or, more likely, if they chose to not fill new space or negotiate aggressively at contract renewal time, CyrusOne's business could severely suffer.",
    "output": "[Cause] If these providers ever chose to leave, or, more likely, if they chose to not fill new space or negotiate aggressively at contract renewal time [Relation] cause [Effect] CyrusOne's business could severely suffer",
    "gold": "[Cause] If these providers ever chose to leave, or, more likely, if they chose to not fill new space or negotiate aggressively at contract renewal time [Relation] enable [Effect] CyrusOne's business could severely suffer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the online gaming segment, as more gamers use Tencent's platform WeGame to purchase games, participate in the gaming community, and access game-related information, more game developers will distribute their games through Tencent, enhancing the choice of games.",
    "output": "[Cause] more gamers use Tencent's platform WeGame to purchase games, participate in the gaming community, and access game-related information [Relation] cause [Effect] more game developers will distribute their games through Tencent, enhancing the choice of games",
    "gold": "[Cause]  more gamers use Tencent's platform WeGame to purchase games, participate in the gaming community, and access game-related information [Relation] cause [Effect] more game developers will distribute their games through Tencent, enhancing the choice of games",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition to cost management and distribution leverage, we believe Costco's low prices are enabled by its procurement strength.",
    "output": "[Cause] its procurement strength [Relation] enable [Effect] Costco's low prices",
    "gold": "[Cause]  cost management and distribution leverage [Relation] enable [Effect] Costco's low prices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition to cost management and distribution leverage, we believe Costco's low prices are enabled by its procurement strength.",
    "output": "[Cause] its procurement strength [Relation] enable [Effect] Costco's low prices",
    "gold": "[Cause] its procurement strength [Relation] enable [Effect] Costco's low prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Bancorp has a very strong underwriting culture, as its performance during the crisis was among the best of the banks we cover.",
    "output": "[Cause] its performance during the crisis was among the best of the banks we cover [Relation] cause [Effect] Bancorp has a very strong underwriting culture",
    "gold": "[Cause] its performance during the crisis was among the best of the banks we cover [Relation] enable [Effect] Bancorp has a very strong underwriting culture",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In medication delivery and nutrition, management has turned around these operations after recent hurricane and regulatory concerns damaged Baxter's reputation as a reliable supplier of these critical therapies.",
    "output": "[Cause] recent hurricane and regulatory concerns damaged Baxter's reputation as a reliable supplier of these critical therapies [Relation] cause [Effect] management has turned around these operations",
    "gold": "[Cause] recent hurricane and regulatory concerns [Relation] prevent [Effect] Baxter's reputation as a reliable supplier of these critical therapies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the unprecedented nature of the crisis, it is difficult to estimate the effect on the company's revenue base with precision.",
    "output": "[Cause] the unprecedented nature of the crisis [Relation] cause [Effect] it is difficult to estimate the effect on the company's revenue base with precision",
    "gold": "[Cause] the unprecedented nature of the crisis [Relation] cause [Effect] it is difficult to estimate the effect on the company's revenue base with precision",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given PTC's exposure to the manufacturing business, we think PTC could be affected by stops and starts in large assembly production in the case of a recession.",
    "output": "[Cause] PTC's exposure to the manufacturing business [Relation] cause [Effect] we think PTC could be affected by stops and starts in large assembly production in the case of a recession",
    "gold": "[Cause] PTC's exposure to the manufacturing business [Relation] cause [Effect] we think PTC could be affected by stops and starts in large assembly production in the case of a recession",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "When hotel demand picked up after the financial crisis, supply came on shortly after and was particularly concentrated in certain gateway markets with the strongest demand drivers.",
    "output": "[Cause] hotel demand picked up after the financial crisis [Relation] cause [Effect] supply came on shortly after and was particularly concentrated in certain gateway markets with the strongest demand drivers",
    "gold": "[Cause] hotel demand picked up after the financial crisis [Relation] cause [Effect] supply came on shortly after and was particularly concentrated in certain gateway markets with the strongest demand drivers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect aggregates shipment volume to increase to more than 255 million tons within the five-year explicit forecast period of our discounted cash flow model, driven by economic recovery, pent-up construction demand, and acquisitions.",
    "output": "[Cause] economic recovery, pent-up construction demand, and acquisitions [Relation] cause [Effect] aggregates shipment volume to increase to more than 255 million tons within the five-year explicit forecast period of our discounted cash flow model",
    "gold": "[Cause] economic recovery, pent-up construction demand, and acquisitions [Relation] enable [Effect] aggregates shipment volume to increase to more than 255 million tons within the five-year explicit forecast period of our discounted cash flow model",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Owing to side effects or lack of compelling efficacy, Merck experienced major setbacks with cardiovascular disease drugs anacetrapib, Tredaptive, Rolofylline, and TRA along with Telcagepant for migraines.",
    "output": "[Cause] side effects or lack of compelling efficacy [Relation] cause [Effect] Merck experienced major setbacks with cardiovascular disease drugs anacetrapib, Tredaptive, Rolofylline, and TRA along with Telcagepant for migraines",
    "gold": "[Cause] side effects or lack of compelling efficacy [Relation] cause [Effect] Merck experienced major setbacks with cardiovascular disease drugs anacetrapib, Tredaptive, Rolofylline, and TRA along with Telcagepant for migraines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition to loan losses stemming from a recession, the company would suffer reductions in trading, investment banking, mortgage, and wealth management revenue.",
    "output": "[Cause] loan losses stemming from a recession [Relation] cause [Effect] the company would suffer reductions in trading, investment banking, mortgage, and wealth management revenue",
    "gold": "[Cause] recession [Relation] cause [Effect] reductions in trading, investment banking, mortgage, and wealth management revenue |  loan losses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While banks rarely disclose products per customer, we'll note that top market share in credit card usage, residential mortgage loans, and checking accounts strongly enhance the bank's value proposition.",
    "output": "[Cause] top market share in credit card usage, residential mortgage loans, and checking accounts strongly [Relation] enable [Effect] enhance the bank's value proposition",
    "gold": "[Cause] top market share in credit card usage, residential mortgage loans, and checking accounts strongly [Relation] enable [Effect] enhance the bank's value proposition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For a linerboard or medium mill, the inputs and outputs are globally fungible, which diminishes barriers to entry in any particular market.",
    "output": "[Cause] the inputs and outputs are globally fungible [Relation] cause [Effect] diminishes barriers to entry in any particular market",
    "gold": "[Cause] the inputs and outputs are globally fungible [Relation] cause [Effect] diminishes barriers to entry in any particular market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the collapse of profits within primary life insurance has been important for the profitability of life reinsurance because naturally a provider will be able to afford to pay less to a service provider as their profits come under pressure.",
    "output": "[Cause] naturally a provider will be able to afford to pay less to a service provider as their profits come under pressure [Relation] cause [Effect] the collapse of profits within primary life insurance has been important for the profitability of life reinsurance",
    "gold": "[Cause]  naturally a provider will be able to afford to pay less to a service provider as their profits come under pressure [Relation] cause [Effect] the collapse of profits within primary life insurance has been important for the profitability of life reinsurance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Each additional agent makes the Western Union network more attractive to other agents, as a wider network potentially draws more customers into their stores.",
    "output": "[Cause] a wider network potentially draws more customers into their stores [Relation] cause [Effect] Each additional agent makes the Western Union network more attractive to other agents",
    "gold": "[Cause] a wider network potentially draws more customers into their stores [Relation] cause [Effect] Each additional agent makes the Western Union network more attractive to other agents",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm has not achieved its ambition of becoming the largest operator in Malaysia, a market experiencing intense competition due to the recent entrance of U Mobile.",
    "output": "[Cause] the recent entrance of U Mobile [Relation] cause [Effect] a market experiencing intense competition",
    "gold": "[Cause] the recent entrance of U Mobile [Relation] cause [Effect] a market experiencing intense competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Silgan, like most can makers, benefits from the efficient scale phenomenon in which the introduction of new production within a region can destroy the profitability of both the incumbent and entrant, because of high shipping costs.",
    "output": "[Cause] high shipping costs [Relation] cause [Effect] the introduction of new production within a region can destroy the profitability of both the incumbent and entrant",
    "gold": "[Cause] high shipping costs [Relation] cause [Effect] the introduction of new production within a region can destroy the profitability of both the incumbent and entrant",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have removed our $2 billion legal reserve for ignition recall litigation after reading the 10-K because most of the lawsuits are now resolved and GM so far has had success in winning the remaining fewer-than 100 personal injury cases.",
    "output": "[Cause] most of the lawsuits are now resolved and GM so far has had success in winning the remaining fewer-than 100 personal injury cases [Relation] cause [Effect] We have removed our $2 billion legal reserve for ignition recall litigation after reading the 10-K",
    "gold": "[Cause] most of the lawsuits are now resolved and GM so far has had success in winning the remaining fewer-than 100 personal injury cases [Relation] cause [Effect] We have removed our $2 billion legal reserve for ignition recall litigation after reading the 10-K",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A blowout in the discount for Western Canadian Select crude, currently trading below USD 30 per barrel, and restrictions on pipeline capacity drive an approximate 40% or CAD 0.5 billion reduction in our forecast oil sands EBITDA over the same period.",
    "output": "[Cause] A blowout in the discount for Western Canadian Select crude [Relation] cause [Effect] currently trading below USD 30 per barrel",
    "gold": "[Cause] A blowout in the discount for Western Canadian Select crude [Relation] cause [Effect] an approximate 40% or CAD 0.5 billion reduction in our forecast oil sands EBITDA over the same period",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A blowout in the discount for Western Canadian Select crude, currently trading below USD 30 per barrel, and restrictions on pipeline capacity drive an approximate 40% or CAD 0.5 billion reduction in our forecast oil sands EBITDA over the same period.",
    "output": "[Cause] restrictions on pipeline capacity [Relation] cause [Effect] an approximate 40% or CAD 0.5 billion reduction in our forecast oil sands EBITDA over the same period",
    "gold": "[Cause] currently trading below USD 30 per barrel [Relation] cause [Effect] an approximate 40% or CAD 0.5 billion reduction in our forecast oil sands EBITDA over the same period",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A blowout in the discount for Western Canadian Select crude, currently trading below USD 30 per barrel, and restrictions on pipeline capacity drive an approximate 40% or CAD 0.5 billion reduction in our forecast oil sands EBITDA over the same period.",
    "output": "[Cause] restrictions on pipeline capacity [Relation] cause [Effect] an approximate 40% or CAD 0.5 billion reduction in our forecast oil sands EBITDA over the same period",
    "gold": "[Cause] restrictions on pipeline capacity [Relation] cause [Effect] an approximate 40% or CAD 0.5 billion reduction in our forecast oil sands EBITDA over the same period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, while the margin structure may ultimately be lower in digital experience relative to Creative Cloud, the company has worked to improve margins over time, and we believe Adobe must continue to drive down costs and expand margins to meet investor expectations.",
    "output": "[Cause] Adobe must continue to drive down costs and expand margins [Relation] enable [Effect] meet investor expectations",
    "gold": "[Cause]  Adobe must continue to drive down costs and expand margins [Relation] enable [Effect] meet investor expectations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Equinor expects further improvement in returns and cash flow generation as its major project startups slated between 2020 and 2026 collectively break even at less than $35/bbl oil while delivering 3% compound annual volume growth and a return on capital of 15% in 2023.",
    "output": "[Cause] its major project startups slated between 2020 and 2026 collectively break even at less than $35/bbl oil while delivering 3% compound annual volume growth and a return on capital of 15% in 2023 [Relation] cause [Effect] Equinor expects further improvement in returns and cash flow generation",
    "gold": "[Cause]  its major project startups slated between 2020 and 2026 collectively break even at less than $35/bbl oil while delivering 3% compound annual volume growth and a return on capital of 15% in 2023 [Relation] cause [Effect] Equinor expects further improvement in returns and cash flow generation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast total revenue to increase at an average annual rate of 4% from 2020 through 2024 after normalizing for the acquisition of Pandora in 2019.",
    "output": "[Cause] normalizing for the acquisition of Pandora in 2019 [Relation] cause [Effect] total revenue to increase at an average annual rate of 4% from 2020 through 2024",
    "gold": "[Cause] normalizing for the acquisition of Pandora in 2019 [Relation] enable [Effect]  total revenue to increase at an average annual rate of 4% from 2020 through 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Airlines generally do not switch between the major manufacturers because it is expensive to update maintenance procedures, which are designed for each aircraft product, and crews and pilots would need to be retrained and certified to the new aircraft.",
    "output": "[Cause] it is expensive to update maintenance procedures, which are designed for each aircraft product, and crews and pilots would need to be retrained and certified to the new aircraft [Relation] cause [Effect] Airlines generally do not switch between the major manufacturers",
    "gold": "[Cause] it is expensive to update maintenance procedures, which are designed for each aircraft product, and crews and pilots would need to be retrained and certified to the new aircraft [Relation] cause [Effect] Airlines generally do not switch between the major manufacturers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast a modest decline in revenue in fiscal 2021 due to weak labor conditions arising from the coronavrius pandemic.",
    "output": "[Cause] weak labor conditions arising from the coronavrius pandemic [Relation] cause [Effect] a modest decline in revenue in fiscal 2021",
    "gold": "[Cause]  the coronavrius pandemic [Relation] cause [Effect] weak labor conditions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, as the hotel starts to consistently fill up the hotel should start to be able to raise rates, especially on the last few customers that book a room that pushes occupancy toward 100% for a given night.",
    "output": "[Cause] the last few customers that book a room that pushes occupancy toward 100% for a given night [Relation] cause [Effect] raise rates",
    "gold": "[Cause] the last few customers that book a room [Relation] enable [Effect] occupancy toward 100%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With our forecast for nearly 2,500 Tractor Supply and around 430 Petsense stores over the next decade, the firm risks oversaturation and cannibalization of sales in established locations, however, we expect some localized merchandise selection could prevent this.",
    "output": "[Cause] our forecast for nearly 2,500 Tractor Supply and around 430 Petsense stores over the next decade [Relation] cause [Effect] the firm risks oversaturation and cannibalization of sales in established locations",
    "gold": "[Cause] our forecast for nearly 2,500 Tractor Supply and around 430 Petsense stores over the next decade [Relation] cause [Effect]  the firm risks oversaturation and cannibalization of sales in established locations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "JLL's strong competitive position derives in large part from its lengthy record of effective and ethical service that has allowed it to bolster its reputation.",
    "output": "[Cause] its lengthy record of effective and ethical service [Relation] enable [Effect] bolster its reputation",
    "gold": "[Cause] its lengthy record of effective and ethical service [Relation] enable [Effect] bolster its reputation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Petrobras took an impairment charge of $13 billion in early 2020 related to E&amp;P assets as management revised its long-term price deck to $50/bbl from $65/bbl.",
    "output": "[Cause] management revised its long-term price deck to $50/bbl from $65/bbl [Relation] cause [Effect] Petrobras took an impairment charge of $13 billion in early 2020 related to E&amp;P assets",
    "gold": "[Cause] management revised its long-term price deck to $50/bbl from $65/bbl [Relation] cause [Effect] Petrobras took an impairment charge of $13 billion in early 2020 related to E&amp;P assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the business has recently established a relationship with Atlantic Zagros Financial Partners that will allow North America-based investors to invest in Eastspring asset management funds.",
    "output": "[Cause] the business has recently established a relationship with Atlantic Zagros Financial Partners [Relation] enable [Effect] North America-based investors to invest in Eastspring asset management funds",
    "gold": "[Cause] the business has recently established a relationship with Atlantic Zagros Financial Partners [Relation] enable [Effect] North America-based investors to invest in Eastspring asset management funds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Margins should expand with increased revenue, as the firm enjoys a relatively fixed cost-base, while a pivot toward software offerings will lead to gradual expansion in the big three segments (somewhat offset by the decline of the profitable global print business).",
    "output": "[Cause] the firm enjoys a relatively fixed cost-base [Relation] cause [Effect] Margins should expand with increased revenue",
    "gold": "[Cause] the firm enjoys a relatively fixed cost-base [Relation] cause [Effect] Margins should expand with increased revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Margins should expand with increased revenue, as the firm enjoys a relatively fixed cost-base, while a pivot toward software offerings will lead to gradual expansion in the big three segments (somewhat offset by the decline of the profitable global print business).",
    "output": "[Cause] a pivot toward software offerings [Relation] cause [Effect] gradual expansion in the big three segments",
    "gold": "[Cause] a pivot toward software offerings [Relation] cause [Effect] gradual expansion in the big three segments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect that mix shift towards the high-margin 737 MAX and learning curve-based cost efficiencies should help the company improve margins.",
    "output": "[Cause] mix shift towards the high-margin 737 MAX and learning curve-based cost efficiencies [Relation] enable [Effect] the company improve margins",
    "gold": "[Cause] mix shift towards the high-margin 737 MAX | learning curve-based cost efficiencies [Relation] cause [Effect]  improve margins.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Williams-Sonoma can begin to work out what the consumer's next likely purchase might be and produce information to facilitate that next sale more quickly, leading to lower repeat customer acquisition costs.",
    "output": "[Cause] Williams-Sonoma can begin to work out what the consumer's next likely purchase might be and produce information to facilitate that next sale more quickly [Relation] cause [Effect] lower repeat customer acquisition costs",
    "gold": "[Cause] Williams-Sonoma can begin to work out what the consumer's next likely purchase might be and produce information to facilitate that next sale more quickly [Relation] cause [Effect] lower repeat customer acquisition costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the large subscriber base in all segments, mobile (40% market share), broadband (40% market share) and pay TV (30% market share), underpins KPN's cost advantage over peers like T-Mobile.",
    "output": "[Cause] the large subscriber base in all segments, mobile (40% market share), broadband (40% market share) and pay TV (30% market share) [Relation] enable [Effect] underpins KPN's cost advantage over peers like T-Mobile",
    "gold": "[Cause]  the large subscriber base in all segments, mobile (40% market share), broadband (40% market share) and pay TV (30% market share) [Relation] cause [Effect] underpins KPN's cost advantage over peers like T-Mobile",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, Hilton has significant leverage over Park to demand capital expenditures to maintain brand standards that are subject to change, while Park is unable to execute on potentially accretive renovations or cost-saving measures if they aren't approved by Hilton.",
    "output": "[Cause] they aren't approved by Hilton [Relation] cause [Effect] Park is unable to execute on potentially accretive renovations or cost-saving measures",
    "gold": "[Cause] they aren't approved by Hilton [Relation] cause [Effect] Park is unable to execute on potentially accretive renovations or cost-saving measures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "IQiyi, Baidu's online video platform, had been a key growth driver stemming from increasing willingness to pay for premium content in China and continuous advertising demand on iQiyi until short video platforms took mobile time share.",
    "output": "[Cause] increasing willingness to pay for premium content in China and continuous advertising demand on iQiyi until short video platforms took mobile time share [Relation] cause [Effect] IQiyi, Baidu's online video platform, had been a key growth driver",
    "gold": "[Cause]  increasing willingness to pay for premium content in China and continuous advertising demand on iQiyi until short video platforms took mobile time share [Relation] enable [Effect] IQiyi, Baidu's online video platform, had been a key growth driver",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Strong information sharing continues between Genentech and Roche researchers, boosting research and development productivity and personalized medicine offerings that take advantage of Roche's diagnostic arm.",
    "output": "[Cause] Strong information sharing continues between Genentech and Roche researchers [Relation] enable [Effect] boosting research and development productivity and personalized medicine offerings that take advantage of Roche's diagnostic arm",
    "gold": "[Cause] Strong information sharing continues between Genentech and Roche researchers [Relation] cause [Effect] boosting research and development productivity and personalized medicine offerings that take advantage of Roche's diagnostic arm",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Enterprise is pruning its capital spending budget, while focusing on capturing opportunities within petrochemicals, which we think will be its primary growth driver for the time being as two thirds of capital spending is being directed toward this area.",
    "output": "[Cause] two thirds of capital spending is being directed toward this area [Relation] cause [Effect] Enterprise is pruning its capital spending budget, while focusing on capturing opportunities within petrochemicals",
    "gold": "[Cause] Enterprise is pruning its capital spending budget, while focusing on capturing opportunities within petrochemicals [Relation] enable [Effect] its primary growth driver for the time being",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Enterprise is pruning its capital spending budget, while focusing on capturing opportunities within petrochemicals, which we think will be its primary growth driver for the time being as two thirds of capital spending is being directed toward this area.",
    "output": "[Cause] two thirds of capital spending is being directed toward this area [Relation] cause [Effect] Enterprise is pruning its capital spending budget, while focusing on capturing opportunities within petrochemicals",
    "gold": "[Cause]  two thirds of capital spending is being directed toward this area [Relation] cause [Effect] Enterprise is pruning its capital spending budget, while focusing on capturing opportunities within petrochemicals | its primary growth driver for the time being",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The Marcellus is located in the Appalachian Mountains, with rocky terrain, making it harder to construct even smaller gathering pipelines (clearing land, elevation changes, difficulty digging), whereas the Permian Basin has a relatively flat topography.",
    "output": "[Cause] The Marcellus is located in the Appalachian Mountains, with rocky terrain [Relation] cause [Effect] harder to construct even smaller gathering pipelines (clearing land, elevation changes, difficulty digging)",
    "gold": "[Cause] The Marcellus is located in the Appalachian Mountains, with rocky terrain [Relation] cause [Effect] harder to construct even smaller gathering pipelines (clearing land, elevation changes, difficulty digging)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A lower cost of borrowing dwarfs any savings an issuer may achieve by not rating its bonds or using a smaller rating agency.",
    "output": "[Cause] not rating its bonds or using a smaller rating agency [Relation] cause [Effect] A lower cost of borrowing dwarfs any savings an issuer may achieve",
    "gold": "[Cause] not rating its bonds or using a smaller rating agency [Relation] cause [Effect] A lower cost of borrowing dwarfs any savings an issuer may achieve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, the net-lease structure places the burden of operating expenses on the tenant and reduces the asset management expertise required, increasing the pool of potential investors and developers.",
    "output": "[Cause] the net-lease structure places the burden of operating expenses on the tenant [Relation] cause [Effect] increasing the pool of potential investors and developers",
    "gold": "[Cause] the net-lease structure places the burden of operating expenses on the tenant [Relation] prevent [Effect] the asset management expertise required",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Large networking giants like Cisco are focused on growing their security portfolios as other product streams mature and these firms have strong enterprise relationships and cross-selling opportunities.",
    "output": "[Cause] other product streams mature and these firms have strong enterprise relationships and cross-selling opportunities [Relation] cause [Effect] Large networking giants like Cisco are focused on growing their security portfolios",
    "gold": "[Cause] other product streams mature and these firms have strong enterprise relationships and cross-selling opportunities [Relation] cause [Effect] Large networking giants like Cisco are focused on growing their security portfolios",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect a rebound in GDP and customer capital expenditures to push 2021 gross margins nearly back to 2019 levels following a COVID-affected 2020.",
    "output": "[Cause] a COVID-affected 2020 [Relation] cause [Effect] a rebound in GDP and customer capital expenditures to push 2021 gross margins nearly back to 2019 levels",
    "gold": "[Cause] a COVID-affected 2020 [Relation] cause [Effect] a rebound in GDP and customer capital expenditures to push 2021 gross margins nearly back to 2019 levels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As with most processors competing on the low end of the spectrum, the company needs to support significant volumes to remain competitive and leverage operating expenses.",
    "output": "[Cause] the company needs to support significant volumes [Relation] enable [Effect] remain competitive and leverage operating expenses",
    "gold": "[Cause] to remain competitive and leverage operating expenses [Relation] cause [Effect] the company needs to support significant volumes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Land acquisition strategies are beginning to shift, however, as several public builders (including Lennar) have announced their intentions to implement a lighter land strategy.",
    "output": "[Cause] several public builders (including Lennar) have announced their intentions to implement a lighter land strategy [Relation] cause [Effect] Land acquisition strategies are beginning to shift",
    "gold": "[Cause] several public builders (including Lennar) have announced their intentions to implement a lighter land strategy [Relation] cause [Effect] Land acquisition strategies are beginning to shift",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To date, the firm has reduced 2020 growth capital spending by 40% to $700 million, plans to slice at least $100 million of expenses out of an estimated $1 billion expense base, and cut its dividend payout by 90% saving over $750 million.",
    "output": "[Cause] cut its dividend payout by 90% [Relation] enable [Effect] saving over $750 million",
    "gold": "[Cause] cut its dividend payout by 90% [Relation] enable [Effect] saving over $750 million",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "New companies are encouraged to be listed on Nasdaq to prove their legitimacy, and existing firms are have incentives to list with Nasdaq since it makes them eligible for Nasdaq's family of indexes.",
    "output": "[Cause] it makes them eligible for Nasdaq's family of indexes [Relation] cause [Effect] existing firms are have incentives to list with Nasdaq",
    "gold": "[Cause] existing firms are have incentives to list with Nasdaq [Relation] cause [Effect] it makes them eligible for Nasdaq's family of indexes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A strong preference is exhibited for warranties from long-established players, which are perceived to have greater balance sheet strength, due to concern that smaller, newer manufacturers may not be around in 20 years' time.",
    "output": "[Cause] concern that smaller, newer manufacturers may not be around in 20 years' time [Relation] cause [Effect] A strong preference is exhibited for warranties from long-established players, which are perceived to have greater balance sheet strength",
    "gold": "[Cause] concern that smaller, newer manufacturers may not be around in 20 years' time [Relation] cause [Effect] A strong preference is exhibited for warranties from long-established players, which are perceived to have greater balance sheet strength",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In October 2020, AMD agreed to acquire Xilinx to bolster its product portfolio with the leading FPGA franchise to drive growth and better diversify its revenue.",
    "output": "[Cause] AMD agreed to acquire Xilinx [Relation] enable [Effect] bolster its product portfolio with the leading FPGA franchise",
    "gold": "[Cause]  the leading FPGA franchise [Relation] cause [Effect] drive growth and better diversify its revenue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In October 2020, AMD agreed to acquire Xilinx to bolster its product portfolio with the leading FPGA franchise to drive growth and better diversify its revenue.",
    "output": "[Cause] AMD agreed to acquire Xilinx [Relation] enable [Effect] drive growth and better diversify its revenue",
    "gold": "[Cause] AMD agreed to acquire Xilinx [Relation] cause [Effect] bolster its product portfolio",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Specifically, while a customer uses these tools, Agilent should generate recurring consumable and service revenue, but we also believe other switching costs persist due to training and workflow productivity concerns for end users in these highly specialized applications.",
    "output": "[Cause] training and workflow productivity concerns for end users in these highly specialized applications [Relation] cause [Effect] other switching costs persist",
    "gold": "[Cause]  training and workflow productivity concerns for end users in these highly specialized applications [Relation] enable [Effect]  other switching costs persist",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Deere is also exposed to environmental regulation, largely stemming from the environmental impact that agricultural machines have on soil and water quality.",
    "output": "[Cause] the environmental impact that agricultural machines have on soil and water quality [Relation] cause [Effect] Deere is also exposed to environmental regulation",
    "gold": "[Cause]  the environmental impact that agricultural machines have on soil and water quality [Relation] cause [Effect] Deere is also exposed to environmental regulation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Huntington can continue to reduce structural costs as it brings a heightened focus to digital and mobile offerings over the next several years and beyond, now that the cost savings from the FirstMerit acquisition have been completed.",
    "output": "[Cause] it brings a heightened focus to digital and mobile offerings over the next several years and beyond [Relation] cause [Effect] Huntington can continue to reduce structural costs",
    "gold": "[Cause] it brings a heightened focus to digital and mobile offerings over the next several years and beyond [Relation] enable [Effect]  Huntington can continue to reduce structural costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, wireless penetration in the region is now approaching the levels of more-developed countries, slowing growth in subscribers and Telenor's top line.",
    "output": "[Cause] wireless penetration in the region is now approaching the levels of more-developed countries [Relation] prevent [Effect] growth in subscribers and Telenor's top line",
    "gold": "[Cause] wireless penetration in the region is now approaching the levels of more-developed countries [Relation] prevent [Effect] growth in subscribers and Telenor's top line",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That aggression extends to the firm's capital structure, where heavy share repurchases bolster shareholder returns but have also kept debt leverage high, which will likely add volatility to the share price and could limit financial flexibility.",
    "output": "[Cause] heavy share repurchases bolster shareholder returns but have also kept debt leverage high [Relation] cause [Effect] add volatility to the share price and could limit financial flexibility",
    "gold": "[Cause] heavy share repurchases [Relation] cause [Effect] bolster shareholder returns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Building material producers face extreme opposition from local communities in obtaining approval for cement kilns and quarries due to the significant environmental impact and noise pollution that production causes.",
    "output": "[Cause] the significant environmental impact and noise pollution that production causes [Relation] cause [Effect] Building material producers face extreme opposition from local communities in obtaining approval for cement kilns and quarries",
    "gold": "[Cause] the significant environmental impact and noise pollution that production causes [Relation] cause [Effect] Building material producers face extreme opposition from local communities in obtaining approval for cement kilns and quarries",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The streamlined process also provides general practitioners who have very limited orthodontic expertise with the ability to sell aligners through Invisalign's automated treatment planning software.",
    "output": "[Cause] The streamlined process [Relation] enable [Effect] general practitioners who have very limited orthodontic expertise with the ability to sell aligners through Invisalign's automated treatment planning software",
    "gold": "[Cause] The streamlined process [Relation] enable [Effect] sell aligners through Invisalign's automated treatment planning software.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That scrutiny has escalated as large wildfires the last few years have led to property destruction, power outages, and public outcry.",
    "output": "[Cause] large wildfires the last few years have led to property destruction, power outages, and public outcry [Relation] cause [Effect] scrutiny has escalated",
    "gold": "[Cause]  large wildfires the last few years have led to property destruction, power outages, and public outcry [Relation] cause [Effect] scrutiny has escalated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a broad domestic manufacturing and distribution network, we think Hershey operates with lower unit and distribution costs, as well as greater supply chain efficiency and an enhanced ability to leverage brand spending, than smaller peers.",
    "output": "[Cause] a broad domestic manufacturing and distribution network [Relation] cause [Effect] Hershey operates with lower unit and distribution costs, as well as greater supply chain efficiency and an enhanced ability to leverage brand spending, than smaller peers",
    "gold": "[Cause] a broad domestic manufacturing and distribution network [Relation] enable [Effect] Hershey operates with lower unit and distribution costs, as well as greater supply chain efficiency and an enhanced ability to leverage brand spending, than smaller peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The recent election of Andres Manuel Lopez Obrador adds additional uncertainty as Movil continues to challenge elements of the new regulations in the courts.",
    "output": "[Cause] Movil continues to challenge elements of the new regulations in the courts [Relation] cause [Effect] The recent election of Andres Manuel Lopez Obrador adds additional uncertainty",
    "gold": "[Cause] Movil continues to challenge elements of the new regulations in the courts [Relation] prevent [Effect] The recent election of Andres Manuel Lopez Obrador adds additional uncertainty",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, oil production for Shell has peaked and will fall 1%-2% per year through 2030 through natural decline and divestitures, implying about a 15% total reduction in volumes, reducing the impact of the upstream segment's improved cost position and incremental higher returns on total company returns over time.",
    "output": "[Cause] oil production for Shell has peaked and will fall 1%-2% per year through 2030 through natural decline and divestitures, implying about a 15% total reduction in volumes [Relation] cause [Effect] reducing the impact of the upstream segment's improved cost position and incremental higher returns on total company returns over time",
    "gold": "[Cause] natural decline and divestitures [Relation] enable [Effect] oil production for Shell has peaked and will fall 1%-2% per year",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Admittedly, the pending acquisition of Grail adds some pressure on Illumina to execute on this transaction and keep returns on invested capital above capital costs, as we project ROICs could decline to the midteens in 2022 because of that transaction.",
    "output": "[Cause] the pending acquisition of Grail [Relation] cause [Effect] some pressure on Illumina to execute on this transaction and keep returns on invested capital above capital costs",
    "gold": "[Cause] that transaction [Relation] cause [Effect] ROICs could decline to the midteens in 2022",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Admittedly, the pending acquisition of Grail adds some pressure on Illumina to execute on this transaction and keep returns on invested capital above capital costs, as we project ROICs could decline to the midteens in 2022 because of that transaction.",
    "output": "[Cause] the pending acquisition of Grail [Relation] cause [Effect] some pressure on Illumina to execute on this transaction and keep returns on invested capital above capital costs",
    "gold": "[Cause]  the pending acquisition of Grail [Relation] cause [Effect] some pressure on Illumina to execute on this transaction and keep returns on invested capital above capital costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, like other large brand scale hotel chains, its hotels operate at all hours and days of the year, using energy and supplies, which if not properly managed could disinterest some visitation.",
    "output": "[Cause] not properly managed [Relation] cause [Effect] disinterest some visitation",
    "gold": "[Cause] not properly managed [Relation] cause [Effect] disinterest some visitation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Adidas' athletic footwear market share still trails Nike by a wide margin, it has gained share as Nike has not experienced double-digit growth in North America since 2015.",
    "output": "[Cause] Nike has not experienced double-digit growth in North America since 2015 [Relation] cause [Effect] it has gained share",
    "gold": "[Cause] Nike has not experienced double-digit growth in North America since 2015 [Relation] enable [Effect]  Adidas' athletic footwear market share | it has gained",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To further improve the consumer experience and more tightly tie users to Amazon, the company has moved increasingly into content.",
    "output": "[Cause] improve the consumer experience and more tightly tie users to Amazon [Relation] cause [Effect] the company has moved increasingly into content",
    "gold": "[Cause] improve the consumer experience and more tightly tie users to Amazon [Relation] cause [Effect] the company has moved increasingly into content",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Competition is always a risk, as it is here with the rise of next-generation process automation from the likes of ServiceNow and Salesforce.",
    "output": "[Cause] it is here with the rise of next-generation process automation from the likes of ServiceNow and Salesforce [Relation] cause [Effect] Competition is always a risk",
    "gold": "[Cause] Competition [Relation] enable [Effect] a risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If established competitors or new entrants introduce better products or develop stickier relationships with customers, Qiagen may lose testing volumes or pricing power.",
    "output": "[Cause] established competitors or new entrants introduce better products or develop stickier relationships with customers [Relation] cause [Effect] Qiagen may lose testing volumes or pricing power",
    "gold": "[Cause] established competitors or new entrants introduce better products or develop stickier relationships with customers [Relation] cause [Effect] Qiagen may lose testing volumes or pricing power",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that HP's growth initiatives will expand its market share within the PC and printing industries as consolidation occurs, but we expect cost competitiveness among the remaining vendors to limit potential upside.",
    "output": "[Cause] HP's growth initiatives [Relation] enable [Effect] expand its market share within the PC and printing industries",
    "gold": "[Cause] consolidation occurs [Relation] cause [Effect] HP's growth initiatives will expand its market share within the PC and printing industries",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Typically, a firm with such a broad fixed network infrastructure and customer base size would be able to generate high returns on capital.",
    "output": "[Cause] a firm with such a broad fixed network infrastructure and customer base size [Relation] enable [Effect] generate high returns on capital",
    "gold": "[Cause] a firm with such a broad fixed network infrastructure and customer base size [Relation] enable [Effect] generate high returns on capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast production to fall in 2020 and 2021, given the reduction in investment and curtailments in the Lower 48 and Canada, though ConocoPhillips ended its curtailment program during the third quarter of 2020 as oil prices began to stabilize around the $40/bbl point.",
    "output": "[Cause] the reduction in investment and curtailments in the Lower 48 and Canada [Relation] cause [Effect] production to fall in 2020 and 2021",
    "gold": "[Cause] the reduction in investment and curtailments in the Lower 48 and Canada [Relation] cause [Effect] production to fall in 2020 and 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In an effort to offset moderating revenue growth, FactSet went on an acquisition spree, spending more than $560 million in 2016 and 2017, resulting in negative tangible book value.",
    "output": "[Cause] FactSet went on an acquisition spree, spending more than $560 million in 2016 and 2017 [Relation] cause [Effect] negative tangible book value",
    "gold": "[Cause] FactSet went on an acquisition spree, spending more than $560 million in 2016 and 2017 [Relation] cause [Effect] negative tangible book value",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company rotates its engineers into the field to understand customer and industry issues firsthand to make its platforms more valuable while gaining deployment cost efficiencies.",
    "output": "[Cause] The company rotates its engineers into the field [Relation] enable [Effect] understand customer and industry issues firsthand",
    "gold": "[Cause] The company rotates its engineers into the field [Relation] enable [Effect] understand customer and industry issues firsthand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company rotates its engineers into the field to understand customer and industry issues firsthand to make its platforms more valuable while gaining deployment cost efficiencies.",
    "output": "[Cause] The company rotates its engineers into the field [Relation] enable [Effect] make its platforms more valuable while gaining deployment cost efficiencies",
    "gold": "[Cause] The company rotates its engineers into the field [Relation] enable [Effect] make its platforms more valuable while gaining deployment cost efficiencies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's record of regular product innovation and R&amp;D through the cycle is impressive; however, the short operating life of tools coupled with an innovation cycle of around six years provides enough time for competitors to replicate its characteristics once future restocking decisions are required.",
    "output": "[Cause] the short operating life of tools coupled with an innovation cycle of around six years [Relation] enable [Effect] provides enough time for competitors to replicate its characteristics once future restocking decisions are required",
    "gold": "[Cause] the short operating life of tools coupled with an innovation cycle of around six years [Relation] enable [Effect] provides enough time for competitors to replicate its characteristics once future restocking decisions are required",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, it continues to improve recoveries from existing assets while maintaining a deep exploration opportunity set that should allow it to capitalize on existing infrastructure to add future volumes at low cost.",
    "output": "[Cause] it continues to improve recoveries from existing assets while maintaining a deep exploration opportunity set [Relation] enable [Effect] capitalize on existing infrastructure to add future volumes at low cost",
    "gold": "[Cause] continues to improve recoveries from existing assets while maintaining a deep exploration opportunity set that should allow it to capitalize on existing infrastructure [Relation] enable [Effect] add future volumes at low cost.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because of the focus on building a portfolio of interest-paying consumer loans, the company is highly exposed to the credit and interest-rate cycles.",
    "output": "[Cause] the focus on building a portfolio of interest-paying consumer loans [Relation] cause [Effect] the company is highly exposed to the credit and interest-rate cycles",
    "gold": "[Cause] the focus on building a portfolio of interest-paying consumer loans [Relation] cause [Effect] the company is highly exposed to the credit and interest-rate cycles",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In Northern Europe, we anticipate softer growth than Southern Europe as the economic slowdown and increased regulations in Germany will be headwinds to near-term growth with revenue slowing by 0.4%.",
    "output": "[Cause] the economic slowdown and increased regulations in Germany [Relation] prevent [Effect] near-term growth",
    "gold": "[Cause] the economic slowdown and increased regulations in Germany [Relation] cause [Effect] softer growth than Southern Europe | In Northern Europe",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Fraud is a key issue for online transactions, and we think combining data from both the merchant and consumer side will help Global Payments combat fraud, and move closer to online solutions that resemble the successful PayPal model.",
    "output": "[Cause] Fraud is a key issue for online transactions [Relation] cause [Effect] combining data from both the merchant and consumer side will help Global Payments combat fraud",
    "gold": "[Cause] combining data from both the merchant and consumer side [Relation] enable [Effect] Global Payments combat fraud",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Fraud is a key issue for online transactions, and we think combining data from both the merchant and consumer side will help Global Payments combat fraud, and move closer to online solutions that resemble the successful PayPal model.",
    "output": "[Cause] combining data from both the merchant and consumer side [Relation] enable [Effect] Global Payments combat fraud",
    "gold": "[Cause] combining data from both the merchant and consumer side [Relation] cause [Effect] move closer to online solutions that resemble the successful PayPal model",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We are impressed with the company's efforts to build its BellRing Brands business, resulting in attractive market share gains and strength of the Premier Protein brand in the shakes segment.",
    "output": "[Cause] the company's efforts to build its BellRing Brands business [Relation] cause [Effect] attractive market share gains and strength of the Premier Protein brand in the shakes segment",
    "gold": "[Cause] the company's efforts to build its BellRing Brands business [Relation] cause [Effect] attractive market share gains and strength of the Premier Protein brand in the shakes segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, we expect some lasting benefits from the 11 million pets that were adopted and 1 million coffee and espresso machines that were purchased during the pandemic, as at-home coffee and pet food accounted for 28% and 37% of Smucker's fiscal 2020 sales, respectively.",
    "output": "[Cause] at-home coffee and pet food accounted for 28% and 37% of Smucker's fiscal 2020 sales, respectively [Relation] cause [Effect] some lasting benefits",
    "gold": "[Cause] the 11 million pets that were adopted and 1 million coffee and espresso machines that were purchased during the pandemic [Relation] cause [Effect] some lasting benefits",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we expect that the ratio will eventually decline to 58% as rates normalize somewhat in the later years of our model and the bank is able to hold the line on expenses.",
    "output": "[Cause] rates normalize somewhat in the later years of our model and the bank is able to hold the line on expenses [Relation] cause [Effect] the ratio will eventually decline to 58%",
    "gold": "[Cause] rates normalize somewhat in the later years of our model and the bank is able to hold the line on expenses [Relation] enable [Effect]  the ratio will eventually decline to 58%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Short-term tactical shifts from ocean to air during 2017 and in late 2020 because of West Coast port disruption, are examples of the mode's importance.",
    "output": "[Cause] West Coast port disruption [Relation] cause [Effect] Short-term tactical shifts from ocean to air during 2017 and in late 2020",
    "gold": "[Cause] West Coast port disruption [Relation] cause [Effect] Short-term tactical shifts from ocean to air during 2017 and in late 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think its expanding distribution network and product portfolio have helped Lennox gain market share, while low-cost manufacturing and product sourcing and more cost-efficient product designs helped reduce its cost base.",
    "output": "[Cause] its expanding distribution network and product portfolio [Relation] enable [Effect] Lennox gain market share",
    "gold": "[Cause]  its expanding distribution network and product portfolio [Relation] enable [Effect]  Lennox gain market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think its expanding distribution network and product portfolio have helped Lennox gain market share, while low-cost manufacturing and product sourcing and more cost-efficient product designs helped reduce its cost base.",
    "output": "[Cause] low-cost manufacturing and product sourcing and more cost-efficient product designs [Relation] enable [Effect] reduce its cost base",
    "gold": "[Cause] low-cost manufacturing and product sourcing and more cost-efficient product designs [Relation] enable [Effect]  reduce its cost base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think ST carries some risk associated with its in-house manufacturing capacity, as it will have to generate enough revenue to both cover the high fixed costs associated with advanced chip manufacturing plants (or fabs) and earn excess returns on capital.",
    "output": "[Cause] it will have to generate enough revenue to both cover the high fixed costs associated with advanced chip manufacturing plants (or fabs) and earn excess returns on capital [Relation] cause [Effect] ST carries some risk associated with its in-house manufacturing capacity",
    "gold": "[Cause] generate enough revenue to both cover the high fixed costs associated with advanced chip manufacturing plants (or fabs) and earn excess returns on capital. [Relation] cause [Effect]  ST carries some risk associated",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In Wells Fargo's asset management and wealth management operations, while scale isn't necessarily a huge advantage, we do believe these segments can help contribute to economies of scope.",
    "output": "[Cause] scale isn't necessarily a huge advantage [Relation] cause [Effect] these segments can help contribute to economies of scope",
    "gold": "[Cause] Wells Fargo's asset management and wealth management operations [Relation] enable [Effect] contribute to economies of scope",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over the same period, we project average annual operating income growth in the midteens, as the sales leverage tied to increased comps more than offsets store operations investments, new retail configuration and equipment investments, and technology enhancements.",
    "output": "[Cause] the sales leverage tied to increased comps more than offsets store operations investments, new retail configuration and equipment investments, and technology enhancements [Relation] cause [Effect] average annual operating income growth in the midteens",
    "gold": "[Cause] Over the same period, we project average annual operating income growth in the midteens [Relation] cause [Effect] the sales leverage tied to increased comps more than offsets store operations investments, new retail configuration and equipment investments, and technology enhancements",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect the security business to grow in the high single digits as networking security remains a top priority for businesses and the services business to grow by low single digits as Cisco customers request more support in optimizing their hybrid cloud and software-defined networks.",
    "output": "[Cause] networking security remains a top priority for businesses [Relation] cause [Effect] the security business to grow in the high single digits",
    "gold": "[Cause] networking security remains a top priority for businesses [Relation] cause [Effect] the security business to grow in the high single digits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the security business to grow in the high single digits as networking security remains a top priority for businesses and the services business to grow by low single digits as Cisco customers request more support in optimizing their hybrid cloud and software-defined networks.",
    "output": "[Cause] Cisco customers request more support in optimizing their hybrid cloud and software-defined networks [Relation] cause [Effect] the services business to grow by low single digits",
    "gold": "[Cause]  Cisco customers request more support in optimizing their hybrid cloud and software-defined networks [Relation] cause [Effect] the services business to grow by low single digits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we believe Uniti will increasingly focus on being able to further lease some of the fiber it receives in these transactions, and these can add value, as they often come with minimal incremental costs.",
    "output": "[Cause] they often come with minimal incremental costs [Relation] cause [Effect] add value",
    "gold": "[Cause] they often come with minimal incremental costs [Relation] cause [Effect] Uniti will increasingly focus on being able to further lease some of the fiber it receives in these transactions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While brokerage and principal investing are competitive businesses, Goldman Sachs is arguably the best in the business, with a history of strong growth and returns partially attributable to its informational advantages, technology infrastructure, and risk management.",
    "output": "[Cause] its informational advantages, technology infrastructure, and risk management [Relation] cause [Effect] a history of strong growth and returns",
    "gold": "[Cause] its informational advantages, technology infrastructure, and risk management [Relation] cause [Effect] a history of strong growth and returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm will face some cost inflation this year, but expect PSR initiatives to drive further OR improvement to 55.6% in 2021, with additional gains to roughly 55.4% in 2022.",
    "output": "[Cause] PSR initiatives [Relation] enable [Effect] further OR improvement to 55.6% in 2021, with additional gains to roughly 55.4% in 2022",
    "gold": "[Cause] PSR initiatives [Relation] enable [Effect]  further OR improvement to 55.6% in 2021, with additional gains to roughly 55.4% in 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Guidewire is a relatively small company competing in an industry with only 1,500 potential customers, so the number of new deals won in any given quarter matters a great deal, and any unexpected deal won or lost can swing results materially from one quarter to the next.",
    "output": "[Cause] Guidewire is a relatively small company competing in an industry with only 1,500 potential customers [Relation] cause [Effect] the number of new deals won in any given quarter matters a great deal, and any unexpected deal won or lost can swing results materially from one quarter to the next",
    "gold": "[Cause] any unexpected deal won or lost [Relation] cause [Effect] swing results materially from one quarter to the next",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Greater memory density on a single chip also reduces the amount of chips needed in an end application, which reduces the overall cost per gigabyte of storage in an end system.",
    "output": "[Cause] Greater memory density on a single chip also reduces the amount of chips needed in an end application [Relation] cause [Effect] reduces the overall cost per gigabyte of storage in an end system",
    "gold": "[Cause] Greater memory density on a single chip also reduces the amount of chips needed in an end application [Relation] enable [Effect]  reduces the overall cost per gigabyte of storage in an end system",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall revenue is anticipated to be slightly pressured as the launches of generic Advair, Wixela, generic Copaxone, and biosimilars partially offset declines in maturing generics including Upjohn.",
    "output": "[Cause] the launches of generic Advair, Wixela, generic Copaxone, and biosimilars partially offset declines in maturing generics including Upjohn [Relation] cause [Effect] Overall revenue is anticipated to be slightly pressured",
    "gold": "[Cause] the launches of generic Advair, Wixela, generic Copaxone, and biosimilars partially offset declines in maturing generics including Upjohn [Relation] enable [Effect] Overall revenue is anticipated to be slightly pressured",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our 10-year forecast sees an average adjusted ROIC of 22.5%, with our 2030 projection of 25.3% slightly higher than the firm's pre-pandemic average primarily due to positive operating leverage and refranchising.",
    "output": "[Cause] positive operating leverage and refranchising [Relation] cause [Effect] Our 10-year forecast sees an average adjusted ROIC of 22.5%, with our 2030 projection of 25.3% slightly higher than the firm's pre-pandemic average",
    "gold": "[Cause] positive operating leverage and refranchising [Relation] cause [Effect] Our 10-year forecast sees an average adjusted ROIC of 22.5%, with our 2030 projection of 25.3% slightly higher than the firm's pre-pandemic average",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The main barrier to new entrants replicating a metasearch platform is having the customer traffic to attract hoteliers and OTAs to share their content.",
    "output": "[Cause] having the customer traffic to attract hoteliers and OTAs to share their content [Relation] prevent [Effect] new entrants replicating a metasearch platform",
    "gold": "[Cause] having the customer traffic to attract hoteliers and OTAs to share their content [Relation] prevent [Effect] new entrants replicating a metasearch platform",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In turn, advertisers may see a lower ROI on such ads and, similarly, may run fewer ads through Criteo in the future.",
    "output": "[Cause] advertisers may see a lower ROI on such ads [Relation] cause [Effect] run fewer ads through Criteo in the future",
    "gold": "[Cause] advertisers may see a lower ROI on such ads [Relation] cause [Effect] run fewer ads through Criteo in the future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see ADI continuing to benefit from increased electronics content in automotive and industrial products, while also benefiting from near-term tailwinds associated with 5G wireless infrastructure buildouts.",
    "output": "[Cause] near-term tailwinds associated with 5G wireless infrastructure buildouts [Relation] enable [Effect] ADI continuing to benefit from increased electronics content in automotive and industrial products",
    "gold": "[Cause] near-term tailwinds associated with 5G wireless infrastructure buildouts [Relation] enable [Effect] ADI continuing to benefit from increased electronics content in automotive and industrial products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With vendors looking to avoid the stigma of a visible discount presence (which can diminish their pricing power in the full-price channel), we anticipate it will remain difficult to digitize the treasure-hunt.",
    "output": "[Cause] vendors looking to avoid the stigma of a visible discount presence [Relation] cause [Effect] diminish their pricing power in the full-price channel",
    "gold": "[Cause] vendors looking to avoid the stigma of a visible discount presence (which can diminish their pricing power in the full-price channel) [Relation] cause [Effect] we anticipate it will remain difficult to digitize the treasure-hunt",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "At that point, states in the West and Northwest would likely be able to cultivate at a lower cost through outdoor operations versus states that need to use higher-cost greenhouse or indoor cultivation methods due to their climates.",
    "output": "[Cause] their climates [Relation] cause [Effect] states in the West and Northwest would likely be able to cultivate at a lower cost through outdoor operations versus states that need to use higher-cost greenhouse or indoor cultivation methods",
    "gold": "[Cause] lower cost through outdoor operations versus states [Relation] cause [Effect] be able to cultivate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, we think new emission regulation will likely be introduced gradually over the next decade. This will give Paccar time to continue evolving the sustainability of its products and reducing its impact on the environment.",
    "output": "[Cause] new emission regulation will likely be introduced gradually over the next decade [Relation] enable [Effect] give Paccar time to continue evolving the sustainability of its products and reducing its impact on the environment",
    "gold": "[Cause]  new emission regulation will likely be introduced gradually over the next decade [Relation] enable [Effect]  give Paccar time to continue evolving the sustainability of its products and reducing its impact on the environment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This market structure has enabled Sky to offer multiple telecom services to its customers, eliminating any bundling disadvantage it may have faced.",
    "output": "[Cause] This market structure [Relation] enable [Effect] Sky to offer multiple telecom services to its customers, eliminating any bundling disadvantage it may have faced",
    "gold": "[Cause] This market structure [Relation] enable [Effect] Sky to offer multiple telecom services to its customers, eliminating any bundling disadvantage it may have faced",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the value/volume profile of certain snacks can make distribution less economically desirable, Pepsi is able to increase its distribution route density by filling trucks with both beverage and snack stock-keeping units, leading to economies of scope as the firm spreads distribution costs across a greater number of products.",
    "output": "[Cause] the firm spreads distribution costs across a greater number of products [Relation] cause [Effect] economies of scope",
    "gold": "[Cause]  filling trucks with both beverage and snack stock-keeping units [Relation] enable [Effect]  Pepsi is able to increase its distribution route density",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the value/volume profile of certain snacks can make distribution less economically desirable, Pepsi is able to increase its distribution route density by filling trucks with both beverage and snack stock-keeping units, leading to economies of scope as the firm spreads distribution costs across a greater number of products.",
    "output": "[Cause] the firm spreads distribution costs across a greater number of products [Relation] cause [Effect] economies of scope",
    "gold": "[Cause]  the firm spreads distribution costs across a greater number of products [Relation] cause [Effect] economies of scope",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, Campbell has a wide economic moat resulting from brand intangible assets and a cost advantage. As such, we expect the firm's returns on invested capital to remain above its cost of capital (even under a more bearish outlook) over the next 20 years.",
    "output": "[Cause] Campbell has a wide economic moat resulting from brand intangible assets and a cost advantage [Relation] cause [Effect] the firm's returns on invested capital to remain above its cost of capital (even under a more bearish outlook) over the next 20 years",
    "gold": "[Cause] Campbell has a wide economic moat resulting from brand intangible assets and a cost advantage [Relation] cause [Effect] the firm's returns on invested capital to remain above its cost of capital (even under a more bearish outlook) over the next 20 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Non-pandemic procedure volume has been returning through May and June, making for a relatively short downturn, which is mirrored in the resumption of related diagnostic tests.",
    "output": "[Cause] Non-pandemic procedure volume has been returning through May and June [Relation] cause [Effect] a relatively short downturn",
    "gold": "[Cause] Non-pandemic procedure volume has been returning through May and June [Relation] cause [Effect] a relatively short downturn",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the barriers to entry are not significant for the industry, the barriers to success are extremely high--as it takes time and skill to not only put together a long enough track record of investment performance to start gathering assets but to build the scale necessary to be competitive. This has meant that the larger, more established asset managers in the industry have tended to have an advantage over smaller players, especially when it comes to gaining cost-effective access to distribution platforms.",
    "output": "[Cause] While the barriers to entry are not significant for the industry, the barriers to success are extremely high--as it takes time and skill to not only put together a long enough track record of investment performance to start gathering assets but to build the scale necessary to be competitive [Relation] cause [Effect] the larger, more established asset managers in the industry have tended to have an advantage over smaller players, especially when it comes to gaining cost-effective access to distribution platforms",
    "gold": "[Cause] While the barriers to entry are not significant for the industry, the barriers to success are extremely high--as it takes time and skill to not only put together a long enough track record of investment performance to start gathering assets but to build the scale necessary to be competitive [Relation] cause [Effect] the larger, more established asset managers in the industry have tended to have an advantage over smaller players, especially when it comes to gaining cost-effective access to distribution platforms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The all-stock nature of the deal leaves Global Payments with modest leverage and more flexibility to potentially pursue software acquisitions and strengthen its portfolio of owned business software in key industry verticals.",
    "output": "[Cause] The all-stock nature of the deal [Relation] cause [Effect] Global Payments with modest leverage and more flexibility",
    "gold": "[Cause] The all-stock nature of the deal [Relation] enable [Effect] Global Payments with modest leverage and more flexibility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The all-stock nature of the deal leaves Global Payments with modest leverage and more flexibility to potentially pursue software acquisitions and strengthen its portfolio of owned business software in key industry verticals.",
    "output": "[Cause] The all-stock nature of the deal [Relation] enable [Effect] Global Payments with modest leverage and more flexibility",
    "gold": "[Cause] Global Payments with modest leverage and more flexibility [Relation] cause [Effect] potentially pursue software acquisitions and strengthen its portfolio of owned business software in key industry verticals",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Wine/spirits will be more of a mixed bag, as the firm seeks to realign its portfolio following the recent divestiture of underperforming brands to E&J Gallo.",
    "output": "[Cause] the firm seeks to realign its portfolio following the recent divestiture of underperforming brands to E&J Gallo [Relation] cause [Effect] Wine/spirits will be more of a mixed bag",
    "gold": "[Cause] the firm seeks to realign its portfolio following the recent divestiture of underperforming brands to E&J Gallo [Relation] cause [Effect] Wine/spirits will be more of a mixed bag",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect coronavirus-related changes in consumer behavior will have a lasting impact on the industry while also driving near-term operating volatility.",
    "output": "[Cause] coronavirus-related changes in consumer behavior [Relation] cause [Effect] have a lasting impact on the industry while also driving near-term operating volatility",
    "gold": "[Cause] coronavirus-related changes in consumer behavior [Relation] enable [Effect] have a lasting impact on the industry while also driving near-term operating volatility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Nordstrom chose to close 16 of its stores in 2020, we think it is in better shape than some mall retailers as 95% of its full-price stores are in Class A (greater than $500 sales per square foot) malls.",
    "output": "[Cause] 95% of its full-price stores are in Class A (greater than $500 sales per square foot) malls [Relation] cause [Effect] it is in better shape than some mall retailers",
    "gold": "[Cause]  95% of its full-price stores are in Class A (greater than $500 sales per square foot) malls [Relation] cause [Effect] it is in better shape than some mall retailers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Though the COVID-19 crisis has caused a significant decline in profitability as procedure volume has fallen, we expect its operating margin should regain some ground by fiscal 2022.",
    "output": "[Cause] procedure volume has fallen [Relation] cause [Effect] the COVID-19 crisis has caused a significant decline in profitability",
    "gold": "[Cause] the COVID-19 crisis [Relation] cause [Effect] significant decline in profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Most of the company's peers, including Polaris' Indian brand and BRP's Spyder/Ryker motorcycles, currently share floor space with other powersports peers, and would have to build an independent dealer base that sells only its own products from scratch. This would force the competing brand to find willing participants that agree to sell just one brand, forgoing flexibility to sell the most popular products at certain times depending on product launches, something we think is unlikely.",
    "output": "[Cause] Most of the company's peers, including Polaris' Indian brand and BRP's Spyder/Ryker motorcycles, currently share floor space with other powersports peers, and would have to build an independent dealer base that sells only its own products from scratch [Relation] cause [Effect] force the competing brand to find willing participants that agree to sell just one brand, forgoing flexibility to sell the most popular products at certain times depending on product launches, something we think is unlikely",
    "gold": "[Cause] Most of the company's peers, including Polaris' Indian brand and BRP's Spyder/Ryker motorcycles, currently share floor space with other powersports peers, and would have to build an independent dealer base that sells only its own products from scratch [Relation] cause [Effect]  force the competing brand to find willing participants that agree to sell just one brand, forgoing flexibility to sell the most popular products at certain times depending on product launches, something we think is unlikely",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Light jets remain a material component of aviation revenue, so the company's success in this segment depends on both defending share in an increasingly competitive light jet market and transitioning its focus to higher-value products.",
    "output": "[Cause] Light jets remain a material component of aviation revenue [Relation] cause [Effect] the company's success in this segment depends on both defending share in an increasingly competitive light jet market and transitioning its focus to higher-value products",
    "gold": "[Cause] both defending share in an increasingly competitive light jet market and transitioning its focus to higher-value products [Relation] cause [Effect]  company's success in this segment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Tenneco's consistent technology innovation and ability to find alternative vehicular applications enable more favorable pricing relative to many automotive industry suppliers, increasing the company's dollar content per vehicle.",
    "output": "[Cause] Tenneco's consistent technology innovation and ability to find alternative vehicular applications [Relation] enable [Effect] more favorable pricing relative to many automotive industry suppliers",
    "gold": "[Cause] Tenneco's consistent technology innovation and ability to find alternative vehicular applications [Relation] enable [Effect] more favorable pricing relative to many automotive industry suppliers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Tenneco's consistent technology innovation and ability to find alternative vehicular applications enable more favorable pricing relative to many automotive industry suppliers, increasing the company's dollar content per vehicle.",
    "output": "[Cause] more favorable pricing relative to many automotive industry suppliers [Relation] enable [Effect] increasing the company's dollar content per vehicle",
    "gold": "[Cause] more favorable pricing relative to many automotive industry suppliers [Relation] enable [Effect] increasing the company's dollar content per vehicle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Patterson could achieve a cost advantage through superior operational efficiency, but drillers typically outsource larger rig components鈥攕uch as engines, generators, and top drives鈥攆rom third-party providers, so potentially performance-enhancing inputs typically disseminate across the industry rather quickly.",
    "output": "[Cause] Patterson could achieve a cost advantage through superior operational efficiency, but drillers typically outsource larger rig componentsuch as engines, generators, and top drivesrom third-party providers [Relation] cause [Effect] potentially performance-enhancing inputs typically disseminate across the industry rather quickly",
    "gold": "[Cause] Patterson could achieve a cost advantage through superior operational efficiency, but drillers typically outsource larger rig components鈥攕uch as engines, generators, and top drives鈥攆rom third-party providers [Relation] enable [Effect] potentially performance-enhancing inputs typically disseminate across the industry rather quickly",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Therefore, we view distributor relationships, and the ability to influence routes, SKU assortment, and product ramp timing, as crucial sources of competitive advantage.",
    "output": "[Cause] distributor relationships, and the ability to influence routes, SKU assortment, and product ramp timing [Relation] enable [Effect] crucial sources of competitive advantage",
    "gold": "[Cause] distributor relationships, and the ability to influence routes, SKU assortment, and product ramp timing [Relation] enable [Effect] crucial sources of competitive advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "All else equal, this allows for lower material costs relative to most other purveyors of packaged water, as the cost of the plastic can be absorbed over a number of recurring sales.",
    "output": "[Cause] the cost of the plastic can be absorbed over a number of recurring sales [Relation] cause [Effect] lower material costs relative to most other purveyors of packaged water",
    "gold": "[Cause]  the cost of the plastic can be absorbed over a number of recurring sales [Relation] cause [Effect] lower material costs relative to most other purveyors of packaged water",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, due to COVID-19 and the increasing uncertainty around the economy and the potential downside, we are currently assigning Truist a high uncertainty rating.",
    "output": "[Cause] the potential downside [Relation] cause [Effect] assigning Truist a high uncertainty rating",
    "gold": "[Cause] the potential downside [Relation] cause [Effect] assigning Truist a high uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After stringing together decent growth in the early 2010s, inventory clearance and stock-keeping unit creep of lower-productivity brands hurt Mattel's performance throughout 2014-18.",
    "output": "[Cause] inventory clearance and stock-keeping unit creep of lower-productivity brands [Relation] cause [Effect] hurt Mattel's performance throughout 2014-18",
    "gold": "[Cause] stringing together decent growth in the early 2010s [Relation] cause [Effect] inventory clearance and stock-keeping unit creep of lower-productivity brands hurt Mattel's performance throughout 2014-18",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Polaris is still more seasonally and end-user diversified (it sells electric vehicles, military products, motorcycles, work vehicles and more), so we think BRP's normalized operating margins could be intermittently volatile.",
    "output": "[Cause] Polaris is still more seasonally and end-user diversified [Relation] cause [Effect] BRP's normalized operating margins could be intermittently volatile",
    "gold": "[Cause] Polaris is still more seasonally and end-user diversified [Relation] cause [Effect] BRP's normalized operating margins could be intermittently volatile",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, we think Master Lock enjoys strong and steadfast brand recognition as a high-quality, dependable product, which has resulted in superior shelf space, stock-keeping unit assortment, and pricing.",
    "output": "[Cause] Master Lock enjoys strong and steadfast brand recognition as a high-quality, dependable product [Relation] cause [Effect] superior shelf space, stock-keeping unit assortment, and pricing",
    "gold": "[Cause] a high-quality, dependable product [Relation] enable [Effect]  Master Lock enjoys strong and steadfast brand recognition",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Overall, we think Master Lock enjoys strong and steadfast brand recognition as a high-quality, dependable product, which has resulted in superior shelf space, stock-keeping unit assortment, and pricing.",
    "output": "[Cause] Master Lock enjoys strong and steadfast brand recognition [Relation] cause [Effect] superior shelf space, stock-keeping unit assortment, and pricing",
    "gold": "[Cause]  Master Lock enjoys strong and steadfast brand recognition [Relation] enable [Effect] superior shelf space, stock-keeping unit assortment, and pricing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This works for customers because PMAs destroy resale value, so airlines tend to seek to maintain resale value on younger aircraft by shopping with OEMs when the resale value is more important and switching to PMAs when maintenance costs become more important on older aircraft.",
    "output": "[Cause] PMAs destroy resale value [Relation] cause [Effect] airlines tend to seek to maintain resale value on younger aircraft by shopping with OEMs when the resale value is more important and switching to PMAs when maintenance costs become more important on older aircraft",
    "gold": "[Cause] PMAs destroy resale value [Relation] cause [Effect]  airlines tend to seek to maintain resale value on younger aircraft by shopping with OEMs when the resale value is more important and switching to PMAs when maintenance costs become more important on older aircraft",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "An end customer would face prohibitively high switching costs if it wanted to prematurely end its contract with Littelfuse mid-product cycle.",
    "output": "[Cause] it wanted to prematurely end its contract with Littelfuse mid-product cycle [Relation] cause [Effect] An end customer would face prohibitively high switching costs",
    "gold": "[Cause] it wanted to prematurely end its contract with Littelfuse mid-product cycle [Relation] cause [Effect] An end customer would face prohibitively high switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With strong sales bookings the next few years, First Solar must decide how much and how fast it wants to expand production.",
    "output": "[Cause] strong sales bookings the next few years [Relation] cause [Effect] First Solar must decide how much and how fast it wants to expand production",
    "gold": "[Cause]  strong sales bookings the next few years [Relation] cause [Effect]  First Solar must decide how much and how fast it wants to expand production",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These retailers are looking to put their new stores in the top retail locations, providing additional demand for space in the top malls in the United States.",
    "output": "[Cause] These retailers are looking to put their new stores in the top retail locations [Relation] enable [Effect] additional demand for space in the top malls in the United States",
    "gold": "[Cause] These retailers are looking to put their new stores in the top retail locations [Relation] enable [Effect] additional demand for space in the top malls in the United States",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the COVID-19 crisis has adversely impacted VF's operations, its sales and earnings in its second quarter of fiscal 2021 surpassed our estimates as owned e-commerce and greater China sales grew 44% and 16%, respectively.",
    "output": "[Cause] owned e-commerce and greater China sales grew 44% and 16%, respectively [Relation] cause [Effect] its sales and earnings in its second quarter of fiscal 2021 surpassed our estimates",
    "gold": "[Cause]  owned e-commerce and greater China sales grew 44% and 16%, respectively [Relation] enable [Effect] its sales and earnings in its second quarter of fiscal 2021 surpassed our estimates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Portland General's $130 million settlement in July 2018, related to contract disputes with the Carty power plant, alleviates an overhang on the stock and a drag on earnings.",
    "output": "[Cause] Portland General's $130 million settlement in July 2018, related to contract disputes with the Carty power plant [Relation] enable [Effect] alleviates an overhang on the stock and a drag on earnings",
    "gold": "[Cause] Portland General's $130 million settlement in July 2018, related to contract disputes with the Carty power plant [Relation] enable [Effect] alleviates an overhang on the stock and a drag on earnings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In fact, during a downturn in new-vehicle sales, dealers generally report higher gross margins due to a favorable mix shift, but then report lower operating margins because of SG&amp;A deleveraging.",
    "output": "[Cause] a favorable mix shift [Relation] cause [Effect] dealers generally report higher gross margins",
    "gold": "[Cause]  a favorable mix shift [Relation] cause [Effect]  dealers generally report higher gross margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, without Weixin/WeChat ID and QQ ID, users may need to spend more time registering on a new Internet service or a new mobile app, as many sites and apps allow fast login through WeChat ID and QQ ID.",
    "output": "[Cause] many sites and apps allow fast login through WeChat ID and QQ ID [Relation] cause [Effect] without Weixin/WeChat ID and QQ ID, users may need to spend more time registering on a new Internet service or a new mobile app",
    "gold": "[Cause] many sites and apps allow fast login through WeChat ID and QQ ID [Relation] cause [Effect]  without Weixin/WeChat ID and QQ ID, users may need to spend more time registering on a new Internet service or a new mobile app",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As scale is an essential attribute for long-term success in the cash-management business, though, Federated is well positioned with an estimated $420 billion in money market AUM at the end of June 2021, making it one of the 10 largest managers of U.S.",
    "output": "[Cause] scale is an essential attribute for long-term success in the cash-management business [Relation] cause [Effect] Federated is well positioned with an estimated $420 billion in money market AUM at the end of June 2021, making it one of the 10 largest managers of U.S",
    "gold": "[Cause]  Federated is well positioned with an estimated $420 billion in money market AUM at the end of June 2021 [Relation] enable [Effect] it one of the 10 largest managers of U.S",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Online travel agencies and online hotel reviews create immediate price discovery for consumers, preventing hotels from pushing rate increases even though it is nearing full occupancy on many nights.",
    "output": "[Cause] Online travel agencies and online hotel reviews create immediate price discovery for consumers [Relation] prevent [Effect] hotels from pushing rate increases even though it is nearing full occupancy on many nights",
    "gold": "[Cause] Online travel agencies and online hotel reviews create immediate price discovery for consumers [Relation] prevent [Effect] hotels from pushing rate increases even though it is nearing full occupancy on many nights",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we appreciate the significant improvement in profitability and cash flows since new management took over, we question the sustainability of those changes in the face of near-term challenges, including high financial leverage.",
    "output": "[Cause] near-term challenges, including high financial leverage [Relation] cause [Effect] we question the sustainability of those changes",
    "gold": "[Cause] near-term challenges, including high financial leverage [Relation] cause [Effect] we question the sustainability of those changes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We consider the adoption of SolidWorks within universities to make the software more attractive to employers, and as more and more employers deploy SolidWorks, it becomes more attractive to more and more students and universities thereafter.",
    "output": "[Cause] the adoption of SolidWorks within universities [Relation] enable [Effect] make the software more attractive to employers",
    "gold": "[Cause] more and more employers deploy SolidWorks [Relation] enable [Effect]  more attractive to more and more students and universities thereafter",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, possible changes in social norms and acceptances could increase ESG risk which may significantly increase negative client reactions in developed and emerging markets, impacting the firm's revenue and overall business.",
    "output": "[Cause] possible changes in social norms and acceptances [Relation] cause [Effect] increase ESG risk",
    "gold": "[Cause] possible changes in social norms and acceptances could increase ESG risk [Relation] cause [Effect]  increase negative client reactions in developed and emerging markets, impacting the firm's revenue and overall business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Manpower benefits slightly from a network effect as most of its operations are focused on high-volume blue-collar temporary placements, but we believe the effect is moderate at best as its competitors are capable of meeting demand.",
    "output": "[Cause] most of its operations are focused on high-volume blue-collar temporary placements [Relation] cause [Effect] Manpower benefits slightly from a network effect",
    "gold": "[Cause] most of its operations are focused on high-volume blue-collar temporary placements [Relation] cause [Effect] Manpower benefits slightly from a network effect",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Packaged-goods manufacturers have taken advantage of the recently benign commodity cost environment to lower prices in some markets, a strategy designed to help mitigate the loss of middle-market retailers to both discounters and high-end stores.",
    "output": "[Cause] Packaged-goods manufacturers have taken advantage of the recently benign commodity cost environment to lower prices in some markets [Relation] enable [Effect] help mitigate the loss of middle-market retailers to both discounters and high-end stores",
    "gold": "[Cause] mitigate the loss of middle-market retailers to both discounters and high-end stores [Relation] cause [Effect] Packaged-goods manufacturers have taken advantage of the recently benign commodity cost environment to lower prices in some markets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Like essentially all oilfield-services companies, Halliburton would be vulnerable to an economic or technological shock that reduced the long-term growth in oil and gas demand.",
    "output": "[Cause] Halliburton would be vulnerable to an economic or technological shock [Relation] cause [Effect] reduced the long-term growth in oil and gas demand",
    "gold": "[Cause] Halliburton would be vulnerable to an economic or technological shock [Relation] cause [Effect] reduced the long-term growth in oil and gas demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast total room growth to average 2.9% per year over the next 10 years, above our prior estimate of 2.7%, driven by improving loyalty, technology, and distribution, which incentivize third-party owners to join Wyndham.",
    "output": "[Cause] improving loyalty, technology, and distribution [Relation] cause [Effect] We forecast total room growth to average 2.9% per year over the next 10 years, above our prior estimate of 2.7%",
    "gold": "[Cause] improving loyalty, technology, and distribution [Relation] cause [Effect] We forecast total room growth to average 2.9% per year over the next 10 years, above our prior estimate of 2.7%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast total room growth to average 2.9% per year over the next 10 years, above our prior estimate of 2.7%, driven by improving loyalty, technology, and distribution, which incentivize third-party owners to join Wyndham.",
    "output": "[Cause] improving loyalty, technology, and distribution [Relation] enable [Effect] incentivize third-party owners to join Wyndham",
    "gold": "[Cause] We forecast total room growth to average 2.9% per year over the next 10 years, above our prior estimate of 2.7% [Relation] cause [Effect] incentivize third-party owners to join Wyndham",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We have a medium level of uncertainty on the stock, as medical devices need to be sterilized regardless of economic conditions.",
    "output": "[Cause] medical devices need to be sterilized regardless of economic conditions [Relation] cause [Effect] We have a medium level of uncertainty on the stock",
    "gold": "[Cause] medical devices need to be sterilized regardless of economic conditions [Relation] enable [Effect] We have a medium level of uncertainty on the stock",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As more states push enrollees into managed care plans to benefit from the often higher quality and lower costs relative to traditional Medicaid, Centene's Medicaid business could grow even without potential policy changes after Democrats swept the federal electable bodies in the 2020 U.S.",
    "output": "[Cause] more states push enrollees into managed care plans to benefit from the often higher quality and lower costs relative to traditional Medicaid [Relation] cause [Effect] Centene's Medicaid business could grow even without potential policy changes after Democrats swept the federal electable bodies in the 2020 U.S",
    "gold": "[Cause] more states push enrollees into managed care plans to benefit from the often higher quality and lower costs relative to traditional Medicaid [Relation] enable [Effect] Centene's Medicaid business could grow even without potential policy changes after Democrats swept the federal electable bodies in the 2020 U.S",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, as a large chemical producer whose products are key components of plastics, Exxon faces the risk that environmental concerns result in bans or usage reduction that decreases demand for its products or results in higher costs related to reuse or recycling.",
    "output": "[Cause] environmental concerns [Relation] cause [Effect] bans or usage reduction",
    "gold": "[Cause] a large chemical producer whose products are key components of plastics [Relation] cause [Effect] Exxon faces the risk that environmental concerns result in bans or usage reduction",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nonetheless, we believe that profound improvements in margins because of decreasing the time and number of engineers required to install, deploy, and manage the software platforms, alongside scaling its customer cohort, will lead to sustainable excess returns over invested capital in the long run.",
    "output": "[Cause] decreasing the time and number of engineers required to install, deploy, and manage the software platforms, alongside scaling its customer cohort [Relation] cause [Effect] profound improvements in margins",
    "gold": "[Cause] profound improvements in margins [Relation] cause [Effect] sustainable excess returns over invested capital in the long run",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we expect that Hormel will report an economic profit in each of the 10 years of our explicit forecast (ranging from 14% to 16% compared with our 7% WACC estimate), we don't have confidence that it will generate ROICs in excess of WACC over a 20-year horizon. This lack of conviction primarily stems from the highly competitive nature of the industry and the rapidly evolving landscape in regard to the shift to the online channel, which has leveled the playing field to a great extent between established, national branded operators and smaller niche startups.",
    "output": "[Cause] the highly competitive nature of the industry and the rapidly evolving landscape in regard to the shift to the online channel, which has leveled the playing field to a great extent between established, national branded operators and smaller niche startups [Relation] cause [Effect] Hormel will report an economic profit in each of the 10 years of our explicit forecast (ranging from 14% to 16% compared with our 7% WACC estimate), we don't have confidence that it will generate ROICs in excess of WACC over a 20-year horizon",
    "gold": "[Cause] the highly competitive nature of the industry and the rapidly evolving landscape in regard to the shift to the online channel, which has leveled the playing field to a great extent between established, national branded operators and smaller niche startups [Relation] cause [Effect] Hormel will report an economic profit in each of the 10 years of our explicit forecast (ranging from 14% to 16% compared with our 7% WACC estimate), we don't have confidence that it will generate ROICs in excess of WACC over a 20-year horizon",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The level of net interest income is more uncertain, as net interest margin and balance sheet size can be difficult to forecast.",
    "output": "[Cause] net interest margin and balance sheet size can be difficult to forecast [Relation] cause [Effect] The level of net interest income is more uncertain",
    "gold": "[Cause]  net interest margin and balance sheet size can be difficult to forecast [Relation] enable [Effect] The level of net interest income is more uncertain",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Monolithic's portfolio of thousands of power conversion, charging, switches, and lighting products should enable the firm to benefit from the secular growth trends in a variety of markets.",
    "output": "[Cause] Monolithic's portfolio of thousands of power conversion, charging, switches, and lighting products [Relation] enable [Effect] the firm to benefit from the secular growth trends in a variety of markets",
    "gold": "[Cause] Monolithic's portfolio of thousands of power conversion, charging, switches, and lighting products [Relation] enable [Effect] the firm to benefit from the secular growth trends in a variety of markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a leading independent diagnostic laboratory, LabCorp participates in a highly attractive duopoly that offers bright prospects as healthcare moves toward reformed payment models, despite current Medicare headwinds.",
    "output": "[Cause] healthcare moves toward reformed payment models [Relation] cause [Effect] offers bright prospects",
    "gold": "[Cause] current Medicare headwinds [Relation] prevent [Effect]  bright prospects",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As a leading independent diagnostic laboratory, LabCorp participates in a highly attractive duopoly that offers bright prospects as healthcare moves toward reformed payment models, despite current Medicare headwinds.",
    "output": "[Cause] healthcare moves toward reformed payment models [Relation] cause [Effect] offers bright prospects",
    "gold": "[Cause] a leading independent diagnostic laboratory [Relation] enable [Effect] LabCorp participates in a highly attractive duopoly",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We anticipate comparable growth to moderate somewhat from its 4% three-year historical average as stores mature (to around 3% on average from fiscal 2022 to 2029, with roughly 2% from transactions upticks and just under 1% from ticket expansion).",
    "output": "[Cause] stores mature [Relation] cause [Effect] comparable growth to moderate somewhat from its 4% three-year historical average",
    "gold": "[Cause] stores mature [Relation] cause [Effect] comparable growth to moderate somewhat from its 4% three-year historical average",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We've been encouraged by WW's efforts to position itself as a lifestyle brand focused on a more holistic approach to health/wellness to differentiate itself from calorie-counting mobile apps, activity monitors, and other weight management solutions.",
    "output": "[Cause] WW's efforts to position itself as a lifestyle brand focused on a more holistic approach to health/wellness [Relation] enable [Effect] differentiate itself from calorie-counting mobile apps, activity monitors, and other weight management solutions",
    "gold": "[Cause] WW's efforts to position itself as a lifestyle brand focused on a more holistic approach to health/wellness [Relation] cause [Effect]  differentiate itself from calorie-counting mobile apps, activity monitors, and other weight management solutions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, we don't think a better product selection translates into significant pricing power with customers or bargaining power with suppliers due to the commoditized nature of crop inputs.",
    "output": "[Cause] the commoditized nature of crop inputs [Relation] cause [Effect] we don't think a better product selection translates into significant pricing power with customers or bargaining power with suppliers",
    "gold": "[Cause]  the commoditized nature of crop inputs [Relation] cause [Effect] we don't think a better product selection translates into significant pricing power with customers or bargaining power with suppliers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our base-case scenario, we project a roughly 200-basis-point operating margin expansion over the next five years, driven by volume leverage, mix shift to higher-margin proprietary products, and the firm's continuous improvement initiatives.",
    "output": "[Cause] volume leverage, mix shift to higher-margin proprietary products, and the firm's continuous improvement initiatives [Relation] cause [Effect] a roughly 200-basis-point operating margin expansion over the next five years",
    "gold": "[Cause] volume leverage, mix shift to higher-margin proprietary products, and the firm's continuous improvement initiatives [Relation] enable [Effect] a roughly 200-basis-point operating margin expansion over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In Digital Realty's data centers, tenants can directly connect to their cloud providers or other partners, resulting in reduced latency and superior security.",
    "output": "[Cause] tenants can directly connect to their cloud providers or other partners [Relation] cause [Effect] reduced latency and superior security",
    "gold": "[Cause] tenants can directly connect to their cloud providers or other partners [Relation] cause [Effect]  reduced latency and superior security",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that customer engagement tools do have some switching costs, as they are mission-critical for call center operations and can help companies deliver better customer service, reduce customer churn, drive revenue, and focus on automation so employees can work on higher-value customer interactions.",
    "output": "[Cause] they are mission-critical for call center operations [Relation] cause [Effect] customer engagement tools do have some switching costs",
    "gold": "[Cause] they are mission-critical for call center operations [Relation] cause [Effect] customer engagement tools do have some switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that customer engagement tools do have some switching costs, as they are mission-critical for call center operations and can help companies deliver better customer service, reduce customer churn, drive revenue, and focus on automation so employees can work on higher-value customer interactions.",
    "output": "[Cause] they are mission-critical for call center operations and can help companies deliver better customer service, reduce customer churn, drive revenue, and focus on automation [Relation] cause [Effect] customer engagement tools do have some switching costs",
    "gold": "[Cause] customer engagement tools do have some switching costs [Relation] cause [Effect] they are mission-critical for call center operations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Most securities in the United States are held in the \"\"\"\"street name\"\"\"\" of brokerages rather than directly under the name of the end investor, and as a result, issuers (whether they be corporate issuers, exchange-traded funds, or mutual funds) can't directly communicate with their beneficial owners.",
    "output": "[Cause] Most securities in the United States are held in the \"\"\"\"street name\"\"\" of brokerages rather than directly under the name of the end investor [Relation] cause [Effect] issuers (whether they be corporate issuers, exchange-traded funds, or mutual funds) can't directly communicate with their beneficial owners",
    "gold": "[Cause] Most securities in the United States are held in the \"\"\"\"street name\"\"\"\" of brokerages rather than directly under the name of the end investor [Relation] cause [Effect] issuers (whether they be corporate issuers, exchange-traded funds, or mutual funds) can't directly communicate with their beneficial owners",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect a 6% compound annual growth rate for net earned premiums over the projection period, with pricing increases and a firmer market resulting in stronger growth in the near term.",
    "output": "[Cause] pricing increases and a firmer market [Relation] cause [Effect] stronger growth in the near term",
    "gold": "[Cause] pricing increases and a firmer market [Relation] cause [Effect] stronger growth in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's weighted average cost of capital is lower than its peers under our coverage because of its highly leveraged balance sheet.",
    "output": "[Cause] its highly leveraged balance sheet [Relation] cause [Effect] The company's weighted average cost of capital is lower than its peers under our coverage",
    "gold": "[Cause] its highly leveraged balance sheet [Relation] cause [Effect] The company's weighted average cost of capital is lower than its peers under our coverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "CSD market is still below 1%. This leads to subpar unit economics from a production and distribution standpoint, and we don't believe the products' appeal is broad enough to support intangibles-based economic profits.",
    "output": "[Cause] CSD market is still below 1% [Relation] cause [Effect] subpar unit economics from a production and distribution standpoint, and we don't believe the products' appeal is broad enough to support intangibles-based economic profits",
    "gold": "[Cause] CSD market is still below 1% [Relation] cause [Effect] subpar unit economics from a production and distribution standpoint, and we don't believe the products' appeal is broad enough to support intangibles-based economic profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A 20-percentage-point increase in claims from credit and surety leads to EUR 158.0 million in additional claims expenses, EUR 150.1 million net.",
    "output": "[Cause] A 20-percentage-point increase in claims from credit and surety [Relation] cause [Effect] EUR 158.0 million in additional claims expenses, EUR 150.1 million net",
    "gold": "[Cause] A 20-percentage-point increase in claims from credit and surety [Relation] cause [Effect] EUR 158.0 million in additional claims expenses, EUR 150.1 million net",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As homebuilding gradually recovers over the next five years, we expect same-store sales growth to average about 5% per year.",
    "output": "[Cause] homebuilding gradually recovers over the next five years [Relation] cause [Effect] same-store sales growth to average about 5% per year",
    "gold": "[Cause]  homebuilding gradually recovers over the next five years [Relation] cause [Effect] same-store sales growth to average about 5% per year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Adient's profits are highly dependent on equity income from its Chinese seating joint ventures, though this will change once the deal to sell YFAS closes in 2021.",
    "output": "[Cause] the deal to sell YFAS closes in 2021 [Relation] cause [Effect] Adient's profits are highly dependent on equity income from its Chinese seating joint ventures",
    "gold": "[Cause] equity income from its Chinese seating joint ventures [Relation] enable [Effect] Adient's profits",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, these expenses have exceeded 45% of revenue in the last four years, and we expect this will continue to be the case for the next 10 years. Consequently, we forecast PVH's average annual adjusted operating margin at 9.6% over the next 10 years, about 2 percentage points lower than a decade ago.",
    "output": "[Cause] these expenses have exceeded 45% of revenue in the last four years, and we expect this will continue to be the case for the next 10 years [Relation] cause [Effect] PVH's average annual adjusted operating margin at 9.6% over the next 10 years, about 2 percentage points lower than a decade ago",
    "gold": "[Cause] these expenses have exceeded 45% of revenue in the last four years, and we expect this will continue to be the case for the next 10 years [Relation] cause [Effect] PVH's average annual adjusted operating margin at 9.6% over the next 10 years, about 2 percentage points lower than a decade ago",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It typically looks for coatings technologies that it doesn't currently have, with the intent to scale the production of that new offering across its facilities worldwide.",
    "output": "[Cause] scale the production of that new offering across its facilities worldwide [Relation] cause [Effect] It typically looks for coatings technologies that it doesn't currently have",
    "gold": "[Cause]  scale the production of that new offering across its facilities worldwide [Relation] enable [Effect] It typically looks for coatings technologies that it doesn't currently have",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Alongside ease of ordering, customers also expect proper technological performance, as well as personal data security within the Domino's platform. As a result, the company employs Splunk in a variety of different use cases, including monitoring the health of its applications to ensure a seamless customer experience, watching for security threats, resolving incidents in a timely manner, and analyzing data to support innovation.",
    "output": "[Cause] Alongside ease of ordering, customers also expect proper technological performance, as well as personal data security within the Domino's platform [Relation] cause [Effect] the company employs Splunk in a variety of different use cases, including monitoring the health of its applications to ensure a seamless customer experience, watching for security threats, resolving incidents in a timely manner, and analyzing data to support innovation",
    "gold": "[Cause] Alongside ease of ordering, customers also expect proper technological performance, as well as personal data security within the Domino's platform [Relation] cause [Effect] the company employs Splunk in a variety of different use cases, including monitoring the health of its applications to ensure a seamless customer experience, watching for security threats, resolving incidents in a timely manner, and analyzing data to support innovation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect that TransDigm will reduce spending on acquisitions in 2021 and 2022, as we do not expect many quality targets will be willing to sell in a downturn.",
    "output": "[Cause] we do not expect many quality targets will be willing to sell in a downturn [Relation] cause [Effect] TransDigm will reduce spending on acquisitions in 2021 and 2022",
    "gold": "[Cause]  we do not expect many quality targets will be willing to sell in a downturn [Relation] cause [Effect] TransDigm will reduce spending on acquisitions in 2021 and 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Ulta can attract new customers and increase its share of customers' annual beauty spending by using customer data in promotion and merchandising and increasing its share of premium products.",
    "output": "[Cause] using customer data in promotion and merchandising and increasing its share of premium products [Relation] enable [Effect] Ulta can attract new customers and increase its share of customers' annual beauty spending",
    "gold": "[Cause] using customer data in promotion and merchandising and increasing its share of premium products [Relation] enable [Effect] Ulta can attract new customers and increase its share of customers' annual beauty spending",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that some of Arista's growth can be attributed to offering products and services that lower the total cost of network ownership versus other vendor products.",
    "output": "[Cause] offering products and services that lower the total cost of network ownership versus other vendor products [Relation] cause [Effect] some of Arista's growth",
    "gold": "[Cause] We believe that some of Arista's growth can be attributed to offering products and services [Relation] enable [Effect] lower the total cost of network ownership versus other vendor products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While COVID-19 stands to materially affect near-term travel demand, we expect Marriott to expand room and revenue share in the hotel industry over the next decade, driven by a favorable next-generation traveler position supported by renovated and newer brands, as well as its industry-leading loyalty program.",
    "output": "[Cause] a favorable next-generation traveler position supported by renovated and newer brands, as well as its industry-leading loyalty program [Relation] enable [Effect] Marriott to expand room and revenue share in the hotel industry over the next decade",
    "gold": "[Cause] a favorable next-generation traveler position supported by renovated and newer brands, as well as its industry-leading loyalty program [Relation] cause [Effect] Marriott to expand room and revenue share in the hotel industry over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Extensive regulatory oversight of TC Energy's assets acts as barrier for new entrants, with many federal, state, and local agencies involved in permitting, siting, and rate-setting activities.",
    "output": "[Cause] Extensive regulatory oversight of TC Energy's assets acts as barrier for new entrants [Relation] cause [Effect] many federal, state, and local agencies involved in permitting, siting, and rate-setting activities",
    "gold": "[Cause] barrier for new entrants, with many federal, state, and local agencies involved in permitting, siting, and rate-setting activities [Relation] cause [Effect] Extensive regulatory oversight of TC Energy's assets acts",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In 2020, due to deleveraging of fixed costs given the COVID-19 sales decline, we expect operating expenses to climb to 15.6% of sales.",
    "output": "[Cause] deleveraging of fixed costs given the COVID-19 sales decline [Relation] cause [Effect] operating expenses to climb to 15.6% of sales",
    "gold": "[Cause] the COVID-19 sales decline [Relation] enable [Effect]  deleveraging of fixed costs given",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "There's limited use of intellectual property in contract manufacturing and, as such, we think the business has the potential to be replicated by competitors within a 10-year time frame.",
    "output": "[Cause] There's limited use of intellectual property in contract manufacturing [Relation] cause [Effect] the business has the potential to be replicated by competitors within a 10-year time frame",
    "gold": "[Cause] There's limited use of intellectual property in contract manufacturing [Relation] cause [Effect]  the business has the potential to be replicated by competitors within a 10-year time frame",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We don't believe any of those firms are willing to sacrifice performance, so we infer that they have created sufficient CDNs to serve most of their own needs.",
    "output": "[Cause] We don't believe any of those firms are willing to sacrifice performance [Relation] cause [Effect] they have created sufficient CDNs to serve most of their own needs",
    "gold": "[Cause] We don't believe any of those firms are willing to sacrifice performance [Relation] cause [Effect]  they have created sufficient CDNs to serve most of their own needs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through strategic partnerships, Walgreens has consciously shared pricing information to improve transparency, drive traffic and negotiate payer relationships. These complimentary services also increase cross selling opportunities and key partnerships serve different purposes and include AmerisourceBergen (distribution), Express Scripts (PBM), Prime Therapeutics LLC (Specialty PBM), Humana (payer), LabCorp, Kroger (grocer), United Healthcare (payer), and Optum (PBM).",
    "output": "[Cause] Walgreens has consciously shared pricing information to improve transparency, drive traffic and negotiate payer relationships [Relation] enable [Effect] increase cross selling opportunities and key partnerships serve different purposes and include AmerisourceBergen (distribution), Express Scripts (PBM), Prime Therapeutics LLC (Specialty PBM), Humana (payer), LabCorp, Kroger (grocer), United Healthcare (payer), and Optum (PBM)",
    "gold": "[Cause] Walgreens has consciously shared pricing information to improve transparency, drive traffic and negotiate payer relationships [Relation] enable [Effect]  increase cross selling opportunities and key partnerships serve different purposes and include AmerisourceBergen (distribution), Express Scripts (PBM), Prime Therapeutics LLC (Specialty PBM), Humana (payer), LabCorp, Kroger (grocer), United Healthcare (payer), and Optum (PBM)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, returns in this segment are volatile and losses in this segment could potentially overwhelm the future earnings power of the group.",
    "output": "[Cause] losses in this segment [Relation] cause [Effect] potentially overwhelm the future earnings power of the group",
    "gold": "[Cause] losses in this segment [Relation] cause [Effect] potentially overwhelm the future earnings power of the group",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As these brands do not hold dominant share or price premiums, we do not believe they possess strong brand equity.",
    "output": "[Cause] these brands do not hold dominant share or price premiums [Relation] cause [Effect] we do not believe they possess strong brand equity",
    "gold": "[Cause] these brands do not hold dominant share or price premiums [Relation] cause [Effect] we do not believe they possess strong brand equity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nevertheless, given that TE's products are more basic--and thus far more removed from the national security spotlight--than semiconductors, and that the company's domiciled in neutral Switzerland, we think the risk of tariffs or trade restrictions is muted.",
    "output": "[Cause] TE's products are more basic [Relation] cause [Effect] far more removed from the national security spotlight",
    "gold": "[Cause] TE's products are more basic [Relation] cause [Effect] far more removed from the national security spotlight",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nevertheless, given that TE's products are more basic--and thus far more removed from the national security spotlight--than semiconductors, and that the company's domiciled in neutral Switzerland, we think the risk of tariffs or trade restrictions is muted.",
    "output": "[Cause] the company's domiciled in neutral Switzerland [Relation] cause [Effect] the risk of tariffs or trade restrictions is muted",
    "gold": "[Cause] the company's domiciled in neutral Switzerland [Relation] enable [Effect] the risk of tariffs or trade restrictions is muted",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, this management system allows the firm to avoid layoffs and thus retain valuable employees during a recession, which also helps maintain high quality and ramp up production during a recovery.",
    "output": "[Cause] this management system [Relation] enable [Effect] the firm to avoid layoffs",
    "gold": "[Cause]  this management system [Relation] enable [Effect] helps maintain high quality and ramp up production during a recovery.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The fallout from currently low prices is also industry underinvestment that could ultimately result in a global shortage and much higher prices than our $60/bbl assumption.",
    "output": "[Cause] The fallout from currently low prices [Relation] cause [Effect] industry underinvestment",
    "gold": "[Cause] The fallout from currently low prices [Relation] cause [Effect] industry underinvestment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The fallout from currently low prices is also industry underinvestment that could ultimately result in a global shortage and much higher prices than our $60/bbl assumption.",
    "output": "[Cause] industry underinvestment [Relation] cause [Effect] a global shortage and much higher prices than our $60/bbl assumption",
    "gold": "[Cause] industry underinvestment [Relation] cause [Effect] a global shortage and much higher prices than our $60/bbl assumption",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Amazon's 2017 purchase of Whole Foods remains a threat, as the digital juggernaut's procurement strength and distribution efficiency can fuel price cuts that upend Sprouts' value proposition (a produce-oriented store featuring fresh, affordable items).",
    "output": "[Cause] the digital juggernaut's procurement strength and distribution efficiency [Relation] cause [Effect] fuel price cuts",
    "gold": "[Cause] the digital juggernaut's procurement strength and distribution efficiency [Relation] enable [Effect] fuel price cuts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Amazon's 2017 purchase of Whole Foods remains a threat, as the digital juggernaut's procurement strength and distribution efficiency can fuel price cuts that upend Sprouts' value proposition (a produce-oriented store featuring fresh, affordable items).",
    "output": "[Cause] fuel price cuts [Relation] cause [Effect] upend Sprouts' value proposition",
    "gold": "[Cause] fuel price cuts [Relation] cause [Effect] upend Sprouts' value proposition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Amazon's 2017 purchase of Whole Foods remains a threat, as the digital juggernaut's procurement strength and distribution efficiency can fuel price cuts that upend Sprouts' value proposition (a produce-oriented store featuring fresh, affordable items).",
    "output": "[Cause] fuel price cuts [Relation] cause [Effect] upend Sprouts' value proposition",
    "gold": "[Cause] upend Sprouts' value proposition [Relation] cause [Effect] Amazon's 2017 purchase of Whole Foods remains a threat",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, Waste Connections hopes to mitigate commodity price risk by better managing facility operating costs, optimizing pricing (more commodity price risk sharing in customer contracts), and finding alternative outlets for its recycled commodities.",
    "output": "[Cause] Waste Connections hopes to mitigate commodity price risk by better managing facility operating costs, optimizing pricing (more commodity price risk sharing in customer contracts), and finding alternative outlets for its recycled commodities [Relation] enable [Effect] mitigate commodity price risk",
    "gold": "[Cause] Waste Connections hopes to mitigate commodity price risk by better managing facility operating costs [Relation] cause [Effect] finding alternative outlets for its recycled commodities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Owners that choose to outsource management responsibilities seek a strong brand and management team with scale and expertise in reservation, advertising, marketing, and labor management, which leads to strong revenue per available room, occupancy, and profitability.",
    "output": "[Cause] choose to outsource management responsibilities seek a strong brand and management team with scale and expertise in reservation, advertising, marketing, and labor management [Relation] cause [Effect] strong revenue per available room, occupancy, and profitability",
    "gold": "[Cause] choose to outsource management responsibilities seek a strong brand and management team with scale and expertise in reservation, advertising, marketing, and labor management [Relation] cause [Effect] strong revenue per available room, occupancy, and profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Owners that choose to outsource management responsibilities seek a strong brand and management team with scale and expertise in reservation, advertising, marketing, and labor management, which leads to strong revenue per available room, occupancy, and profitability.",
    "output": "[Cause] a strong brand and management team with scale and expertise in reservation, advertising, marketing, and labor management [Relation] cause [Effect] strong revenue per available room, occupancy, and profitability",
    "gold": "[Cause] scale and expertise in reservation, advertising, marketing, and labor management [Relation] cause [Effect] a strong brand and management team",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, we still expect that advertising will remain elevated as a percentage of total revenue over the next several years, as online travel companies continue spending in order to capitalize on the strong and large vacation rental, in-destination, and emerging- and mobile-market growth opportunities.",
    "output": "[Cause] online travel companies continue spending [Relation] enable [Effect] capitalize on the strong and large vacation rental, in-destination, and emerging- and mobile-market growth opportunities",
    "gold": "[Cause] a percentage of total revenue over the next several years [Relation] cause [Effect] advertising will remain elevated",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, we still expect that advertising will remain elevated as a percentage of total revenue over the next several years, as online travel companies continue spending in order to capitalize on the strong and large vacation rental, in-destination, and emerging- and mobile-market growth opportunities.",
    "output": "[Cause] online travel companies continue spending [Relation] enable [Effect] capitalize on the strong and large vacation rental, in-destination, and emerging- and mobile-market growth opportunities",
    "gold": "[Cause] online travel companies continue spending in order to capitalize on the strong and large vacation rental, in-destination, and emerging- and mobile-market growth opportunities [Relation] cause [Effect] a percentage of total revenue over the next several years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Lyft's initial focus on San Francisco enabled it to gain the critical mass needed to have enough riders to ultimately attract drivers in other cities and regions.",
    "output": "[Cause] Lyft's initial focus on San Francisco [Relation] enable [Effect] gain the critical mass needed to have enough riders to ultimately attract drivers in other cities and regions",
    "gold": "[Cause] Lyft's initial focus on San Francisco [Relation] enable [Effect] gain the critical mass needed to have enough riders to ultimately attract drivers in other cities and regions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Driving this growth are beneficial trends in the semiconductor industry, including rise of in-house custom chip design (as Moore's Law slows), and proliferation of key technologies such as 5G, cloud computing, AI/ML, Internet of Things, and autonomous vehicles; these should bolster EDA and IP growth.",
    "output": "[Cause] Driving this growth are beneficial trends in the semiconductor industry [Relation] cause [Effect] rise of in-house custom chip design",
    "gold": "[Cause] beneficial trends in the semiconductor industry [Relation] cause [Effect] Driving this growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Driving this growth are beneficial trends in the semiconductor industry, including rise of in-house custom chip design (as Moore's Law slows), and proliferation of key technologies such as 5G, cloud computing, AI/ML, Internet of Things, and autonomous vehicles; these should bolster EDA and IP growth.",
    "output": "[Cause] proliferation of key technologies such as 5G, cloud computing, AI/ML, Internet of Things, and autonomous vehicles [Relation] enable [Effect] bolster EDA and IP growth",
    "gold": "[Cause] proliferation of key technologies such as 5G, cloud computing, AI/ML, Internet of Things, and autonomous vehicles [Relation] cause [Effect] bolster EDA and IP growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We estimate average annual revenue growth of 3% as Maserati, Alfa Romeo, Jeep, and Ram brand volumes become a larger part of the mix.",
    "output": "[Cause] Maserati, Alfa Romeo, Jeep, and Ram brand volumes become a larger part of the mix [Relation] cause [Effect] average annual revenue growth of 3%",
    "gold": "[Cause] Maserati, Alfa Romeo, Jeep, and Ram brand volumes become a larger part of the mix [Relation] enable [Effect]  average annual revenue growth of 3%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The stores provide an ideal venue for monetizing the company's vendor relationships, which enable TJX to serve as a partner of choice for vendors who rely on it to clear inventory quickly and with minimal risk.",
    "output": "[Cause] The stores provide an ideal venue for monetizing the company's vendor relationships [Relation] enable [Effect] TJX to serve as a partner of choice for vendors who rely on it to clear inventory quickly and with minimal risk",
    "gold": "[Cause] The stores provide an ideal venue for monetizing the company's vendor relationships [Relation] enable [Effect] enable TJX to serve as a partner of choice for vendors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our current five-year revenue forecast grows at a rather modest 2.9% on average that includes an 18% dip in 2020 due to its environment solutions divesture, weak sorted office paper pricing, and modest effects from COVID-19.",
    "output": "[Cause] its environment solutions divesture, weak sorted office paper pricing, and modest effects from COVID-19 [Relation] cause [Effect] Our current five-year revenue forecast grows at a rather modest 2.9% on average that includes an 18% dip in 2020",
    "gold": "[Cause] its environment solutions divesture, weak sorted office paper pricing, and modest effects from COVID-19 [Relation] cause [Effect] Our current five-year revenue forecast grows at a rather modest 2.9% on average that includes an 18% dip in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customer loyalty is solidified by this arrangement as franchisees position themselves as advocates who help technicians be at their best.",
    "output": "[Cause] franchisees position themselves as advocates who help technicians be at their best [Relation] cause [Effect] Customer loyalty is solidified by this arrangement",
    "gold": "[Cause]  franchisees position themselves as advocates who help technicians be at their best [Relation] enable [Effect] Customer loyalty is solidified by this arrangement",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since CEO Demetriou took the helm in 2015, however, new management has made great strides in improving execution and has already reduced write-offs by 60%.",
    "output": "[Cause] CEO Demetriou took the helm in 2015 [Relation] cause [Effect] new management has made great strides in improving execution and has already reduced write-offs by 60%",
    "gold": "[Cause]  CEO Demetriou took the helm in 2015 [Relation] cause [Effect] new management has made great strides in improving execution and has already reduced write-offs by 60%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As with contract drilling, the high degree of competition and relative commoditization forces drillers in this space to compete on price, making it difficult to develop a cost advantage.",
    "output": "[Cause] the high degree of competition and relative commoditization forces drillers in this space to compete on price [Relation] cause [Effect] difficult to develop a cost advantage",
    "gold": "[Cause] the high degree of competition and relative commoditization forces drillers in this space to compete on price [Relation] prevent [Effect] difficult to develop a cost advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "M&amp;T Bank's low cost deposit base gives the company a deposit cost advantage, and the bank's strong relationships with customers result in switching costs.",
    "output": "[Cause] M&amp;T Bank's low cost deposit base [Relation] enable [Effect] the company a deposit cost advantage",
    "gold": "[Cause] M&amp;T Bank's low cost deposit base [Relation] enable [Effect] the company a deposit cost advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "M&amp;T Bank's low cost deposit base gives the company a deposit cost advantage, and the bank's strong relationships with customers result in switching costs.",
    "output": "[Cause] the bank's strong relationships with customers [Relation] cause [Effect] switching costs",
    "gold": "[Cause] the bank's strong relationships with customers [Relation] enable [Effect] switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Autoliv's engineers participate very early in the development process, especially when an all-new vehicle platform is being developed, because safety is not only important to consumers but also mandated by governments.",
    "output": "[Cause] safety is not only important to consumers but also mandated by governments [Relation] cause [Effect] Autoliv's engineers participate very early in the development process, especially when an all-new vehicle platform is being developed",
    "gold": "[Cause] safety is not only important to consumers but also mandated by governments [Relation] cause [Effect] Autoliv's engineers participate very early in the development process, especially when an all-new vehicle platform is being developed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the data warehouse alone does not fulfill all public cloud data needs today--particularly, the need to create insights from artificial intelligence and big analytics. As a result, many firms now depend on having a data lake as well as a data warehouse for these needs.",
    "output": "[Cause] the data warehouse alone does not fulfill all public cloud data needs today--particularly, the need to create insights from artificial intelligence and big analytics [Relation] cause [Effect] many firms now depend on having a data lake as well as a data warehouse for these needs",
    "gold": "[Cause] the data warehouse alone does not fulfill all public cloud data needs today--particularly, the need to create insights from artificial intelligence and big analytics [Relation] cause [Effect] many firms now depend on having a data lake as well as a data warehouse for these needs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's business model has changed over the years, as it has reduced its dependence on royalties and become more of an apparel manufacturer.",
    "output": "[Cause] it has reduced its dependence on royalties and become more of an apparel manufacturer [Relation] cause [Effect] The firm's business model has changed over the years",
    "gold": "[Cause] The firm's business model has changed over the years [Relation] cause [Effect] it has reduced its dependence on royalties and become more of an apparel manufacturer",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If management can deliver on its goal of having overhead costs as a percentage of gross profit under 60% (we model low 60s), then our fair value estimate could approach $500.",
    "output": "[Cause] management can deliver on its goal of having overhead costs as a percentage of gross profit under 60% (we model low 60s) [Relation] enable [Effect] our fair value estimate could approach $500",
    "gold": "[Cause] management can deliver on its goal of having overhead costs as a percentage of gross profit under 60% (we model low 60s) [Relation] enable [Effect] our fair value estimate could approach $500",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While fertilizer demand has historically been steady over a number of years, supply tends to come on line in large chunks, such as when a new potash mine begins production, which can flood the market and drop prices.",
    "output": "[Cause] fertilizer demand has historically been steady over a number of years, supply tends to come on line in large chunks [Relation] cause [Effect] flood the market and drop prices",
    "gold": "[Cause] fertilizer demand has historically been steady over a number of years, supply tends to come on line in large chunks [Relation] cause [Effect] flood the market and drop prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lear's products are highly engineered requiring the company to attract and retain highly skilled human capital with expertise in various engineering disciplines.",
    "output": "[Cause] Lear's products are highly engineered [Relation] enable [Effect] attract and retain highly skilled human capital with expertise in various engineering disciplines",
    "gold": "[Cause] requiring the company to attract and retain highly skilled human capital with expertise in various engineering disciplines [Relation] cause [Effect] Lear's products are highly engineered",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In response to the rampant cost inflation in the cheese, meat, and coffee categories a few years ago, Kraft raised prices but was unable to fully offset the profit hit, given the lag in the benefit.",
    "output": "[Cause] the lag in the benefit [Relation] cause [Effect] unable to fully offset the profit hit",
    "gold": "[Cause] the lag in the benefit [Relation] cause [Effect] unable to fully offset the profit hit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Compared with competitor Robert Half, Manpower is more vulnerable to turns in the economic cycle given its high exposure to manufacturing-related industries, whereas Robert Half is tilted more toward professional and business services.",
    "output": "[Cause] its high exposure to manufacturing-related industries [Relation] cause [Effect] Manpower is more vulnerable to turns in the economic cycle",
    "gold": "[Cause] its high exposure to manufacturing-related industries [Relation] cause [Effect] Manpower is more vulnerable to turns in the economic cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Bio-Techne has a market-leading breadth of proteins options, and has consistently maintained pricing premium over peers, but competitors could theoretically develop similar-quality proteins, and Bio-Techne will always face price competition from value-protein providers.",
    "output": "[Cause] competitors could theoretically develop similar-quality proteins [Relation] cause [Effect] Bio-Techne will always face price competition from value-protein providers",
    "gold": "[Cause] competitors could theoretically develop similar-quality proteins [Relation] cause [Effect] Bio-Techne will always face price competition from value-protein providers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, given the faster-growing Tinder and the international market, combined with lower revenue generated from the two, the risk of much faster deceleration in top-line growth and its impact on margins remains.",
    "output": "[Cause] the faster-growing Tinder and the international market, combined with lower revenue generated from the two [Relation] cause [Effect] the risk of much faster deceleration in top-line growth and its impact on margins remains",
    "gold": "[Cause] the faster-growing Tinder and the international market, combined with lower revenue generated from the two [Relation] enable [Effect] the risk of much faster deceleration in top-line growth and its impact on margins remains",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We share management's view that 3G's master franchise joint venture structure offers a competitive advantage by which to accelerate Tim Hortons' and Popeyes' unit growth, which we expect to become more pronounced in the years to come (after shedding underperforming locations during 2020).",
    "output": "[Cause] 3G's master franchise joint venture structure offers a competitive advantage [Relation] enable [Effect] accelerate Tim Hortons' and Popeyes' unit growth",
    "gold": "[Cause] 3G's master franchise joint venture structure offers a competitive advantage by which to accelerate Tim Hortons' and Popeyes' unit growth [Relation] cause [Effect] become more pronounced in the years to come",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As the land is carried in the company's books at just CNY 67 per square meter presently, a revaluation to market value results in a sizable potential revaluation gain.",
    "output": "[Cause] the land is carried in the company's books at just CNY 67 per square meter presently [Relation] cause [Effect] a revaluation to market value results in a sizable potential revaluation gain",
    "gold": "[Cause] the land is carried in the company's books at just CNY 67 per square meter presently [Relation] cause [Effect] a revaluation to market value results in a sizable potential revaluation gain",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're expecting a leisure-led recovery in commercial aviation, reflecting customers' greater willingness to visit friends and family and go on vacation in a pandemic than to travel for business.",
    "output": "[Cause] customers' greater willingness to visit friends and family and go on vacation in a pandemic than to travel for business [Relation] cause [Effect] a leisure-led recovery in commercial aviation",
    "gold": "[Cause] customers' greater willingness to visit friends and family and go on vacation in a pandemic than to travel for business [Relation] cause [Effect] a leisure-led recovery in commercial aviation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume ASP grows at a modest 1.4% CAGR through 2030 due to a continued mix shift to lower-priced Express and Freedom homes.",
    "output": "[Cause] a continued mix shift to lower-priced Express and Freedom homes [Relation] cause [Effect] ASP grows at a modest 1.4% CAGR through 2030",
    "gold": "[Cause] a continued mix shift to lower-priced Express and Freedom homes [Relation] cause [Effect] ASP grows at a modest 1.4% CAGR through 2030",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since hotel accommodations are elastic in demand and most consumers are price-sensitive, competitors can easily steal occupancy by offering low rates, which happens immediately as hotels turn over their tenants each night.",
    "output": "[Cause] hotel accommodations are elastic in demand and most consumers are price-sensitive [Relation] cause [Effect] competitors can easily steal occupancy by offering low rates",
    "gold": "[Cause] hotel accommodations are elastic in demand and most consumers are price-sensitive [Relation] cause [Effect] competitors can easily steal occupancy by offering low rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Exxon's reserves and reserve life have also declined as lower prices (reserves are booked at year-end based on average prices for the year) have required it to remove higher-cost reserves from its proved reserve balances.",
    "output": "[Cause] lower prices (reserves are booked at year-end based on average prices for the year) have required it to remove higher-cost reserves from its proved reserve balances [Relation] cause [Effect] Exxon's reserves and reserve life have also declined",
    "gold": "[Cause] lower prices (reserves are booked at year-end based on average prices for the year) have required it to remove higher-cost reserves from its proved reserve balances [Relation] cause [Effect] Exxon's reserves and reserve life have also declined",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This sits below operating margins exhibited by CMC's major competitors that also operate electric arc furnaces, but companywide margins are slightly depressed by the low-margin recycling and fabrication businesses.",
    "output": "[Cause] the low-margin recycling and fabrication businesses [Relation] cause [Effect] companywide margins are slightly depressed",
    "gold": "[Cause] This sits below operating margins exhibited by CMC's major competitors that also operate electric arc furnaces [Relation] cause [Effect] companywide margins are slightly depressed by the low-margin recycling and fabrication businesses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company has moved beyond the historical view of a brand that children recognize and parents trust by acquiring and creating new franchises and intellectual property.",
    "output": "[Cause] children recognize and parents trust by acquiring and creating new franchises and intellectual property [Relation] cause [Effect] The company has moved beyond the historical view of a brand",
    "gold": "[Cause]  children recognize and parents trust by acquiring and creating new franchises and intellectual property [Relation] enable [Effect] The company has moved beyond the historical view of a brand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Danaher's tools enable the essential operations of its clients, and switching to a competitor's technology could change the outcome of those operations, which would be undesirable for users once Danaher's products are incorporated into their work flow.",
    "output": "[Cause] Danaher's tools enable the essential operations of its clients [Relation] cause [Effect] switching to a competitor's technology could change the outcome of those operations",
    "gold": "[Cause] switching to a competitor's technology could change the outcome of those operations [Relation] prevent [Effect] undesirable for users once Danaher's products are incorporated into their work flow",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Danaher's tools enable the essential operations of its clients, and switching to a competitor's technology could change the outcome of those operations, which would be undesirable for users once Danaher's products are incorporated into their work flow.",
    "output": "[Cause] switching to a competitor's technology [Relation] cause [Effect] change the outcome of those operations",
    "gold": "[Cause] Danaher's tools [Relation] enable [Effect]  the essential operations of its clients",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To a lesser extent, JBT's intangible assets include over 1,500 approved and pending patents and know-how. As a result, both of JBT's segments have valuable customer relationships with large multinational companies, including Campbell Soup, Heinz, Tyson Foods, Nestle, and Unilever, in FoodTech, as well as Fedex, UPS, United Airlines, Southwest Airlines, and Delta Air Lines in AeroTech.",
    "output": "[Cause] To a lesser extent, JBT's intangible assets include over 1,500 approved and pending patents and know-how [Relation] cause [Effect] both of JBT's segments have valuable customer relationships with large multinational companies, including Campbell Soup, Heinz, Tyson Foods, Nestle, and Unilever, in FoodTech, as well as Fedex, UPS, United Airlines, Southwest Airlines, and Delta Air Lines in AeroTech",
    "gold": "[Cause] To a lesser extent, JBT's intangible assets include over 1,500 approved and pending patents and know-how [Relation] cause [Effect] both of JBT's segments have valuable customer relationships with large multinational companies, including Campbell Soup, Heinz, Tyson Foods, Nestle, and Unilever, in FoodTech, as well as Fedex, UPS, United Airlines, Southwest Airlines, and Delta Air Lines in AeroTech",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management has turned its attention to cost reduction in its paper and industrial segment (35% of sales), which serves the mature North American tube and core market and has limited scope for share gains, given its roughly 50% market share.",
    "output": "[Cause] its roughly 50% market share [Relation] cause [Effect] Management has turned its attention to cost reduction in its paper and industrial segment (35% of sales), which serves the mature North American tube and core market and has limited scope for share gains",
    "gold": "[Cause]  its roughly 50% market share [Relation] cause [Effect] Management has turned its attention to cost reduction in its paper and industrial segment (35% of sales), which serves the mature North American tube and core market and has limited scope for share gains",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At the same time, more driver and rider data gathering may increase the data privacy and security ESG risk for the firm.",
    "output": "[Cause] more driver and rider data gathering [Relation] cause [Effect] increase the data privacy and security ESG risk for the firm",
    "gold": "[Cause] more driver and rider data gathering [Relation] cause [Effect] increase the data privacy and security ESG risk for the firm",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ingrained in Mobileye's strategy is developing scalable solutions, with its future EyeQ processors poised to incrementally approach Level 5 autonomy, with Intel's help.",
    "output": "[Cause] Intel's help [Relation] enable [Effect] its future EyeQ processors poised to incrementally approach Level 5 autonomy",
    "gold": "[Cause] Intel's help [Relation] enable [Effect] its future EyeQ processors poised to incrementally approach Level 5 autonomy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The tarnishing of Stericycle's brand, along with recent innovations in the medical waste disposal industry, suggests medical waste producers may be questioning the status quo.",
    "output": "[Cause] The tarnishing of Stericycle's brand, along with recent innovations in the medical waste disposal industry [Relation] cause [Effect] medical waste producers may be questioning the status quo",
    "gold": "[Cause] The tarnishing of Stericycle's brand, along with recent innovations in the medical waste disposal industry [Relation] cause [Effect] medical waste producers may be questioning the status quo",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It is noteworthy that even the same rodent strain from two different suppliers will have enough variation to compromise an experiment, so it's a common industry recommendation to stay with a supplier for all future orders to maintain the integrity of the study's results.",
    "output": "[Cause] even the same rodent strain from two different suppliers will have enough variation to compromise an experiment [Relation] cause [Effect] it's a common industry recommendation to stay with a supplier for all future orders to maintain the integrity of the study's results",
    "gold": "[Cause] even the same rodent strain from two different suppliers will have enough variation to compromise an experiment [Relation] cause [Effect] it's a common industry recommendation to stay with a supplier for all future orders to maintain the integrity of the study's results",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The SCM system will assist in tracking the shipment to the customer as well as the new inventory ordered to replace it. Thus, a customer looking to displace an SAP ERP system must find alternate solutions and update its processes and procedures for each step along the way.",
    "output": "[Cause] The SCM system will assist in tracking the shipment to the customer as well as the new inventory ordered to replace it [Relation] cause [Effect] a customer looking to displace an SAP ERP system must find alternate solutions and update its processes and procedures for each step along the way",
    "gold": "[Cause] The SCM system will assist in tracking the shipment to the customer as well as the new inventory ordered to replace it [Relation] cause [Effect] a customer looking to displace an SAP ERP system must find alternate solutions and update its processes and procedures for each step along the way",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even if regulation never rises to the level of explicit price caps, the threat of this regulation limits pricing power.",
    "output": "[Cause] the threat of this regulation [Relation] prevent [Effect] pricing power",
    "gold": "[Cause] the threat of this regulation [Relation] prevent [Effect] pricing power",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, with Vertex's substantial cash flow, we think the company is well positioned to continue the research and development of drugs for several rare diseases over the next decade.",
    "output": "[Cause] Vertex's substantial cash flow [Relation] enable [Effect] the company is well positioned to continue the research and development of drugs for several rare diseases over the next decade",
    "gold": "[Cause]  Vertex's substantial cash flow [Relation] cause [Effect] the company is well positioned to continue the research and development of drugs for several rare diseases over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On top of that, historically low interest rates have required money market fund providers like Federated to offer fee waivers to offset negative yields on some funds, as the expenses associated with running those funds run higher than the returns generated by their assets.",
    "output": "[Cause] the expenses associated with running those funds run higher than the returns generated by their assets [Relation] cause [Effect] historically low interest rates have required money market fund providers like Federated to offer fee waivers to offset negative yields on some funds",
    "gold": "[Cause]  the expenses associated with running those funds run higher than the returns generated by their assets [Relation] cause [Effect] historically low interest rates have required money market fund providers like Federated to offer fee waivers to offset negative yields on some funds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the close location of the assets to parent Marathon Petroleum refineries, we don't believe the contracts are needed to ensure flows to MPLX assets.",
    "output": "[Cause] the close location of the assets to parent Marathon Petroleum refineries [Relation] cause [Effect] we don't believe the contracts are needed to ensure flows to MPLX assets",
    "gold": "[Cause]  the close location of the assets to parent Marathon Petroleum refineries [Relation] cause [Effect] we don't believe the contracts are needed to ensure flows to MPLX assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "TIM has partnered with Vivo to jointly bid for Oi's wireless business, a move that would greatly improve the market structure.",
    "output": "[Cause] TIM has partnered with Vivo to jointly bid for Oi's wireless business [Relation] enable [Effect] greatly improve the market structure",
    "gold": "[Cause] TIM has partnered with Vivo to jointly bid for Oi's wireless business [Relation] cause [Effect] greatly improve the market structure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This 7%-8% annual midcycle revenue growth projection is below management's target of 10%-15% growth for the broader RF industry, as we remain conservative because we see pauses in smartphone unit sales from time to time.",
    "output": "[Cause] we remain conservative [Relation] cause [Effect] pauses in smartphone unit sales from time to time",
    "gold": "[Cause] we see pauses in smartphone unit sales from time to time [Relation] cause [Effect] we remain conservative",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This 7%-8% annual midcycle revenue growth projection is below management's target of 10%-15% growth for the broader RF industry, as we remain conservative because we see pauses in smartphone unit sales from time to time.",
    "output": "[Cause] we remain conservative [Relation] cause [Effect] This 7%-8% annual midcycle revenue growth projection is below management's target of 10%-15% growth for the broader RF industry",
    "gold": "[Cause] we remain conservative [Relation] cause [Effect] This 7%-8% annual midcycle revenue growth projection is below management's target of 10%-15% growth for the broader RF industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think BCE will be less vulnerable than Telus to Shaw's wireless insurgency due to its lack of overlapping wireline footprint.",
    "output": "[Cause] its lack of overlapping wireline footprint [Relation] cause [Effect] BCE will be less vulnerable than Telus to Shaw's wireless insurgency",
    "gold": "[Cause]  its lack of overlapping wireline footprint [Relation] cause [Effect] BCE will be less vulnerable than Telus to Shaw's wireless insurgency",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Like other shale producers, the firm made considerable progress cutting costs during the post-2014 downturn, and by adopting enhanced completion techniques, it has also boosted initial production rates and projected recoveries.",
    "output": "[Cause] adopting enhanced completion techniques [Relation] enable [Effect] boosted initial production rates and projected recoveries",
    "gold": "[Cause] adopting enhanced completion techniques [Relation] enable [Effect] the firm made considerable progress cutting costs during the post-2014 downturn",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Like other shale producers, the firm made considerable progress cutting costs during the post-2014 downturn, and by adopting enhanced completion techniques, it has also boosted initial production rates and projected recoveries.",
    "output": "[Cause] adopting enhanced completion techniques [Relation] enable [Effect] it has also boosted initial production rates and projected recoveries",
    "gold": "[Cause] adopting enhanced completion techniques [Relation] enable [Effect] it has also boosted initial production rates and projected recoveries",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We consider CarMax a top used-vehicle retailer, so we want to give the firm plenty of credit in its ability to scale its overhead costs over time as more business moves to omnichannel, which allows for fewer stores.",
    "output": "[Cause] more business moves to omnichannel [Relation] cause [Effect] more business moves to omnichannel",
    "gold": "[Cause] more business moves to omnichannel [Relation] enable [Effect] fewer stores",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We consider CarMax a top used-vehicle retailer, so we want to give the firm plenty of credit in its ability to scale its overhead costs over time as more business moves to omnichannel, which allows for fewer stores.",
    "output": "[Cause] more business moves to omnichannel [Relation] cause [Effect] fewer stores",
    "gold": "[Cause] We consider CarMax a top used-vehicle retailer [Relation] enable [Effect] we want to give the firm plenty of credit in its ability to scale its overhead costs over time",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because a meaningful portion of Fastenal's sales are generated from heavy manufacturing and construction, performance is no doubt affected by cyclical downturns.",
    "output": "[Cause] a meaningful portion of Fastenal's sales are generated from heavy manufacturing and construction [Relation] cause [Effect] performance is no doubt affected by cyclical downturns",
    "gold": "[Cause]  a meaningful portion of Fastenal's sales are generated from heavy manufacturing and construction [Relation] cause [Effect] performance is no doubt affected by cyclical downturns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition to some of the tailwinds disappearing, we are cautious about Fluor's growing exposure to fixed-price contracts, which typically carry higher margins but shift the risk of cost overruns to the E&amp;C firm and create the possibility of large losses on individual projects.",
    "output": "[Cause] some of the tailwinds disappearing [Relation] cause [Effect] we are cautious about Fluor's growing exposure to fixed-price contracts",
    "gold": "[Cause] fixed-price contracts [Relation] cause [Effect] carry higher margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Local scale advantages allow for greater negotiating leverage versus service providers than smaller insurers in each community, which contributes to cost advantages.",
    "output": "[Cause] Local scale advantages allow for greater negotiating leverage versus service providers than smaller insurers in each community [Relation] enable [Effect] contributes to cost advantages",
    "gold": "[Cause] Local scale advantages allow for greater negotiating leverage versus service providers than smaller insurers in each community [Relation] enable [Effect] contributes to cost advantages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, as the hotel starts to consistently fill up, it should start to be able to raise rates, especially on the last few customers that book a room that pushes occupancy toward 100% for a given night.",
    "output": "[Cause] the hotel starts to consistently fill up [Relation] cause [Effect] it should start to be able to raise rates",
    "gold": "[Cause] the hotel starts to consistently fill up [Relation] cause [Effect] it should start to be able to raise rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In cataracts, Alcon's leading position in phacoemulsification, with an approximate 50% market share, helps pull in demand for standard intraocular lenses from product bundling.",
    "output": "[Cause] Alcon's leading position in phacoemulsification, with an approximate 50% market share [Relation] enable [Effect] pull in demand for standard intraocular lenses from product bundling",
    "gold": "[Cause]  Alcon's leading position in phacoemulsification, with an approximate 50% market share [Relation] enable [Effect] pull in demand for standard intraocular lenses from product bundling",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, we think that the sheer amount of fixed investment required to produce NAND chips erodes the possibility of earning sustainable excess returns on capital on a commoditylike product.",
    "output": "[Cause] the sheer amount of fixed investment required to produce NAND chips [Relation] prevent [Effect] the possibility of earning sustainable excess returns on capital on a commoditylike product",
    "gold": "[Cause]  the sheer amount of fixed investment required to produce NAND chips [Relation] prevent [Effect]  the possibility of earning sustainable excess returns on capital on a commoditylike product",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This is largely due to our heightened confidence in its growth trajectory amid mounting evidence that remnants of the firm's previous missteps are becoming less of a brand overhang.",
    "output": "[Cause] our heightened confidence in its growth trajectory amid mounting evidence [Relation] cause [Effect] remnants of the firm's previous missteps are becoming less of a brand overhang",
    "gold": "[Cause] our heightened confidence in its growth trajectory amid mounting evidence [Relation] cause [Effect] This",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the deal should significantly accelerate Kroger's development of its deliver-to-home and click-and-collect offerings, with Ocado's flexible, low-cost warehouse-based model extending Kroger's reach beyond its existing markets in a cost-efficient, tested manner.",
    "output": "[Cause] Ocado's flexible, low-cost warehouse-based model [Relation] enable [Effect] extending Kroger's reach beyond its existing markets in a cost-efficient, tested manner",
    "gold": "[Cause] Ocado's flexible, low-cost warehouse-based model [Relation] enable [Effect] extending Kroger's reach beyond its existing markets in a cost-efficient, tested manner",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe intensifying cost cuts will help CNOOC's competitiveness, but the company will still need to boost capital expenditure to address its declining reserves life.",
    "output": "[Cause] intensifying cost cuts [Relation] enable [Effect] help CNOOC's competitiveness",
    "gold": "[Cause]  intensifying cost cuts [Relation] enable [Effect] help CNOOC's competitiveness",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect CMS to maintain its parent leverage, which results in CMS earning consolidated returns on equity above its regulated utility allowed return on equity.",
    "output": "[Cause] CMS to maintain its parent leverage [Relation] cause [Effect] CMS earning consolidated returns on equity above its regulated utility allowed return on equity",
    "gold": "[Cause] CMS to maintain its parent leverage [Relation] cause [Effect] CMS earning consolidated returns on equity above its regulated utility allowed return on equity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While 80% of Aon's clients are middle-market companies, Aon's global presence limits potential competition at the top end of the corporate market as it allows Aon to effectively serve multinational customers that smaller brokers cannot.",
    "output": "[Cause] it allows Aon to effectively serve multinational customers that smaller brokers cannot [Relation] cause [Effect] Aon's global presence limits potential competition at the top end of the corporate market",
    "gold": "[Cause] it allows Aon to effectively serve multinational customers that smaller brokers cannot [Relation] cause [Effect] Aon's global presence limits potential competition at the top end of the corporate market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Combined with recent pricing increases, Progressive's top-line outlook is very strong, and increasing penetration in the agent channel should help to sustain this growth.",
    "output": "[Cause] increasing penetration in the agent channel [Relation] enable [Effect] sustain this growth",
    "gold": "[Cause] Combined with recent pricing increases [Relation] enable [Effect] Progressive's top-line outlook is very strong",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The lack of fee income can detract from an operational cost advantage as well, because Zions has to make material fixed cost investments to run a banking business but cannot reap the rewards of capital-light fee businesses.",
    "output": "[Cause] Zions has to make material fixed cost investments to run a banking business [Relation] cause [Effect] The lack of fee income can detract from an operational cost advantage as well",
    "gold": "[Cause] The lack of fee income [Relation] cause [Effect] detract from an operational cost advantage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While wider adoption of Deal Builder may lower sales expenses and create some operating leverage, we do not believe it will result in enough margin expansion to generate excess returns over the long run.",
    "output": "[Cause] wider adoption of Deal Builder [Relation] prevent [Effect] sales expenses and create some operating leverage",
    "gold": "[Cause]  wider adoption of Deal Builder may lower sales expenses and create some operating leverage [Relation] prevent [Effect]  enough margin expansion to generate excess returns over the long run",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect recovery on the top line through 2021, with sales growth of 8.3% putting Bausch back to a prepandemic growth trajectory.",
    "output": "[Cause] sales growth of 8.3% [Relation] enable [Effect] Bausch back to a prepandemic growth trajectory",
    "gold": "[Cause] sales growth of 8.3% putting Bausch back to a prepandemic growth trajectory [Relation] cause [Effect]  recovery on the top line through 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Some ESG issues for P&C insurers arise in a second-hand fashion, as insurers can draw criticism on the extent to which the insurer incorporates ESG into its investment decisions.",
    "output": "[Cause] insurers can draw criticism on the extent to which the insurer incorporates ESG into its investment decisions [Relation] cause [Effect] Some ESG issues for P&C insurers arise in a second-hand fashion",
    "gold": "[Cause]  the insurer incorporates ESG into its investment decisions [Relation] cause [Effect] insurers can draw criticism",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe switching costs and intangible assets have enabled Blackbaud historically to generate returns on invested capital in excess of its cost capital, and we believe such excess returns will more likely than not continue for the next 20 years.",
    "output": "[Cause] switching costs and intangible assets [Relation] enable [Effect] Blackbaud historically to generate returns on invested capital in excess of its cost capital",
    "gold": "[Cause] switching costs and intangible assets [Relation] enable [Effect] Blackbaud historically to generate returns on invested capital in excess of its cost capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think these synergies are what lead Intuit partners, like PricewaterhouseCoopers, to do bulk QuickBooks orders in the thousands of units in order to sell the software to their small-business customers.",
    "output": "[Cause] these synergies [Relation] enable [Effect] lead Intuit partners, like PricewaterhouseCoopers, to do bulk QuickBooks orders in the thousands of units",
    "gold": "[Cause] do bulk QuickBooks orders in the thousands of units [Relation] enable [Effect] sell the software to their small-business customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think these synergies are what lead Intuit partners, like PricewaterhouseCoopers, to do bulk QuickBooks orders in the thousands of units in order to sell the software to their small-business customers.",
    "output": "[Cause] sell the software to their small-business customers [Relation] cause [Effect] these synergies",
    "gold": "[Cause] these synergies [Relation] enable [Effect] lead Intuit partners, like PricewaterhouseCoopers, to do bulk QuickBooks orders in the thousands of units",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "On the other hand, a traditional tubed pump such as those Medtronic makes is not waterproof because of its motor feature.",
    "output": "[Cause] its motor feature [Relation] cause [Effect] a traditional tubed pump such as those Medtronic makes is not waterproof",
    "gold": "[Cause] its motor feature [Relation] cause [Effect] a traditional tubed pump such as those Medtronic makes is not waterproof",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because disposal costs are the most significant expense for waste haulers, owning well-placed disposal assets (landfill and transfer stations) can yield a cost advantage in local markets over competitors that transport waste over longer distances.",
    "output": "[Cause] disposal costs are the most significant expense for waste haulers [Relation] cause [Effect] owning well-placed disposal assets (landfill and transfer stations) can yield a cost advantage in local markets over competitors that transport waste over longer distances",
    "gold": "[Cause] disposal costs are the most significant expense for waste haulers [Relation] cause [Effect] owning well-placed disposal assets (landfill and transfer stations) can yield a cost advantage in local markets over competitors that transport waste over longer distances",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see the main risks around Plains to be volumetric on both the supply and demand sides, and shortfalls could lead to lower returns via tougher pipe-on-pipe competition and lower levels of flows across Plains' pipeline network.",
    "output": "[Cause] tougher pipe-on-pipe competition and lower levels of flows across Plains' pipeline network [Relation] cause [Effect] shortfalls could lead to lower returns",
    "gold": "[Cause] tougher pipe-on-pipe competition and lower levels of flows across Plains' pipeline network [Relation] cause [Effect] shortfalls could lead to lower returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see the main risks around Plains to be volumetric on both the supply and demand sides, and shortfalls could lead to lower returns via tougher pipe-on-pipe competition and lower levels of flows across Plains' pipeline network.",
    "output": "[Cause] shortfalls [Relation] cause [Effect] lower returns",
    "gold": "[Cause] volumetric on both the supply and demand sides [Relation] cause [Effect] the main risks around Plains",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Rather, we attribute the gross margin improvement to product mix (elimination of lower-margin merchandise), production efficiencies, and less dependence on wholesale sales.",
    "output": "[Cause] product mix (elimination of lower-margin merchandise), production efficiencies, and less dependence on wholesale sales [Relation] cause [Effect] the gross margin improvement",
    "gold": "[Cause]  product mix (elimination of lower-margin merchandise), production efficiencies, and less dependence on wholesale sales [Relation] cause [Effect]  the gross margin improvement",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In a downturn, which can be caused by an airborne illness like the coronavirus, consumers and businesses look to cut back on expenses like travel.",
    "output": "[Cause] an airborne illness like the coronavirus [Relation] cause [Effect] a downturn",
    "gold": "[Cause] an airborne illness like the coronavirus [Relation] cause [Effect] a downturn",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In a downturn, which can be caused by an airborne illness like the coronavirus, consumers and businesses look to cut back on expenses like travel.",
    "output": "[Cause] an airborne illness like the coronavirus [Relation] cause [Effect] consumers and businesses look to cut back on expenses like travel",
    "gold": "[Cause] a downturn [Relation] cause [Effect] consumers and businesses look to cut back on expenses like travel",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we are concerned that the coronavirus lockdown is changing the behavior of consumers and that the impact will even be felt by the relatively insulated Class A malls.",
    "output": "[Cause] the coronavirus lockdown [Relation] cause [Effect] changing the behavior of consumers",
    "gold": "[Cause] the coronavirus lockdown [Relation] cause [Effect] changing the behavior of consumers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There is a risk that in response to increased capital requirement the banks lose market share as they attempt to reprice.",
    "output": "[Cause] they attempt to reprice [Relation] cause [Effect] the banks lose market share",
    "gold": "[Cause] in response to increased capital requirement [Relation] cause [Effect] the banks lose market share as they attempt to reprice",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In recent years, with increased investment spending in the segment, Bausch has begun rolling out a daily disposable silicone hydrogel, and the lens was launched in Japan in late 2018, with an expected U.S.",
    "output": "[Cause] increased investment spending in the segment [Relation] cause [Effect] Bausch has begun rolling out a daily disposable silicone hydrogel",
    "gold": "[Cause] increased investment spending in the segment [Relation] cause [Effect] Bausch has begun rolling out a daily disposable silicone hydrogel",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we believe new industrial cogeneration projects and renewable natural gas from landfill projects should, for the most part, offset the REF decline.",
    "output": "[Cause] new industrial cogeneration projects and renewable natural gas from landfill projects [Relation] prevent [Effect] the REF decline",
    "gold": "[Cause]  new industrial cogeneration projects and renewable natural gas from landfill projects [Relation] prevent [Effect] the REF decline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "LogMeIn provides collaboration software via a freemium model and therefore generally has a high number of users with low ARPU, making it loosely comparable to Shopify.",
    "output": "[Cause] LogMeIn provides collaboration software via a freemium model [Relation] cause [Effect] generally has a high number of users with low ARPU, making it loosely comparable to Shopify",
    "gold": "[Cause] LogMeIn provides collaboration software via a freemium model [Relation] cause [Effect] generally has a high number of users with low ARPU, making it loosely comparable to Shopify",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It has no apparent cost advantage over competitors, since it manufactures much of its clothing through the same independent contractors as others.",
    "output": "[Cause] it manufactures much of its clothing through the same independent contractors as others [Relation] cause [Effect] It has no apparent cost advantage over competitors",
    "gold": "[Cause] it manufactures much of its clothing through the same independent contractors as others [Relation] cause [Effect] It has no apparent cost advantage over competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Sensata Technologies will continue to benefit from the secular trends surrounding efficiency, electrification, and automation across the broader industrial landscape, resulting in returns on invested capital exceeding the company's cost of capital over the next decade.",
    "output": "[Cause] Sensata Technologies will continue to benefit from the secular trends surrounding efficiency, electrification, and automation across the broader industrial landscape [Relation] cause [Effect] returns on invested capital exceeding the company's cost of capital over the next decade",
    "gold": "[Cause] Sensata Technologies will continue to benefit from the secular trends surrounding efficiency, electrification, and automation across the broader industrial landscape [Relation] cause [Effect] returns on invested capital exceeding the company's cost of capital over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With prices averaging between 25% and 50% less than Snap-on's, Icon tools are compared side by side to Snap-on's products in Harbor Freight's marketing materials.",
    "output": "[Cause] prices averaging between 25% and 50% less than Snap-on's [Relation] cause [Effect] Icon tools are compared side by side to Snap-on's products in Harbor Freight's marketing materials",
    "gold": "[Cause]  prices averaging between 25% and 50% less than Snap-on's [Relation] cause [Effect] Icon tools are compared side by side to Snap-on's products in Harbor Freight's marketing materials",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "According to Sysco, independent operators use five to six food-service delivery services, with the leading distributor averaging 30%-40% of wallet share, so it is very typical for customers to shift purchases to another distributors if a lower price is found.",
    "output": "[Cause] independent operators use five to six food-service delivery services, with the leading distributor averaging 30%-40% of wallet share [Relation] cause [Effect] customers to shift purchases to another distributors if a lower price is found",
    "gold": "[Cause] a lower price is found [Relation] enable [Effect] customers to shift purchases to another distributors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The Centers for Medicare and Medicaid Services has established reimbursement for 3D mammography that appears lucrative for the firm's customer base, which has bolstered the adoption of 3D.",
    "output": "[Cause] The Centers for Medicare and Medicaid Services has established reimbursement for 3D mammography [Relation] enable [Effect] bolstered the adoption of 3D",
    "gold": "[Cause] The Centers for Medicare and Medicaid Services has established reimbursement for 3D mammography [Relation] enable [Effect] bolstered the adoption of 3D",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also believe that Hologic's entry into viral-load testing will boost the appeal of its assay menu, aided by the stabilization of the HPV testing market.",
    "output": "[Cause] the stabilization of the HPV testing market [Relation] enable [Effect] Hologic's entry into viral-load testing will boost the appeal of its assay menu",
    "gold": "[Cause] Hologic's entry into viral-load testing [Relation] cause [Effect] boost the appeal of its assay menu",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also believe that Hologic's entry into viral-load testing will boost the appeal of its assay menu, aided by the stabilization of the HPV testing market.",
    "output": "[Cause] the stabilization of the HPV testing market [Relation] enable [Effect] boost the appeal of its assay menu",
    "gold": "[Cause] the stabilization of the HPV testing market [Relation] cause [Effect] boost the appeal of its assay menu",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, we expect the freight brokerage market to grow at a faster clip than the combined for-hire trucking and intermodal markets, as large 3PLs continue to process more for-hire truckload and less-than-truckload freight.",
    "output": "[Cause] large 3PLs continue to process more for-hire truckload and less-than-truckload freight [Relation] cause [Effect] the freight brokerage market to grow at a faster clip than the combined for-hire trucking and intermodal markets",
    "gold": "[Cause]  large 3PLs continue to process more for-hire truckload and less-than-truckload freight [Relation] cause [Effect] the freight brokerage market to grow at a faster clip than the combined for-hire trucking and intermodal markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe favorable demographics and the realization of pent-up demand will drive steady residential construction growth through the mid-2020s, with annual housing starts reaching over 1.6 million units by 2024.",
    "output": "[Cause] favorable demographics and the realization of pent-up demand [Relation] enable [Effect] steady residential construction growth through the mid-2020s",
    "gold": "[Cause] steady residential construction growth through the mid-2020s [Relation] enable [Effect] annual housing starts reaching over 1.6 million units by 2024",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe favorable demographics and the realization of pent-up demand will drive steady residential construction growth through the mid-2020s, with annual housing starts reaching over 1.6 million units by 2024.",
    "output": "[Cause] the realization of pent-up demand [Relation] enable [Effect] steady residential construction growth through the mid-2020s",
    "gold": "[Cause] favorable demographics [Relation] cause [Effect] steady residential construction growth through the mid-2020s",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe favorable demographics and the realization of pent-up demand will drive steady residential construction growth through the mid-2020s, with annual housing starts reaching over 1.6 million units by 2024.",
    "output": "[Cause] the realization of pent-up demand [Relation] enable [Effect] steady residential construction growth through the mid-2020s",
    "gold": "[Cause] the realization of pent-up demand [Relation] cause [Effect] steady residential construction growth through the mid-2020s",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Broader trucking industry issues such as constrained driver availability will probably drive intermittent capacity constraints in the years ahead, assuming modest freight demand growth.",
    "output": "[Cause] Broader trucking industry issues such as constrained driver availability [Relation] cause [Effect] drive intermittent capacity constraints in the years ahead",
    "gold": "[Cause] Broader trucking industry issues such as constrained driver availability [Relation] cause [Effect] drive intermittent capacity constraints in the years ahead",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the West Coast facilities are likely to remain the stars of the portfolio, the expansion into other markets will ultimately drag occupancy rates down as a whole.",
    "output": "[Cause] the expansion into other markets [Relation] cause [Effect] ultimately drag occupancy rates down as a whole",
    "gold": "[Cause] the expansion into other markets [Relation] cause [Effect] ultimately drag occupancy rates down as a whole",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Industry travel content continues to grow, driven by ongoing online platform transparency (which makes it easier to find and search through travel information) and more customized offerings from suppliers (which increases the amount of available content that can be searched for and processed).",
    "output": "[Cause] ongoing online platform transparency [Relation] enable [Effect] Industry travel content continues to grow",
    "gold": "[Cause] ongoing online platform transparency [Relation] enable [Effect] Industry travel content continues to grow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Industry travel content continues to grow, driven by ongoing online platform transparency (which makes it easier to find and search through travel information) and more customized offerings from suppliers (which increases the amount of available content that can be searched for and processed).",
    "output": "[Cause] more customized offerings from suppliers [Relation] enable [Effect] Industry travel content continues to grow",
    "gold": "[Cause] more customized offerings from suppliers [Relation] enable [Effect] Industry travel content continues to grow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Industry travel content continues to grow, driven by ongoing online platform transparency (which makes it easier to find and search through travel information) and more customized offerings from suppliers (which increases the amount of available content that can be searched for and processed).",
    "output": "[Cause] more customized offerings from suppliers [Relation] enable [Effect] Industry travel content continues to grow",
    "gold": "[Cause] ongoing online platform transparency [Relation] cause [Effect] makes it easier to find and search through travel information",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Industry travel content continues to grow, driven by ongoing online platform transparency (which makes it easier to find and search through travel information) and more customized offerings from suppliers (which increases the amount of available content that can be searched for and processed).",
    "output": "[Cause] more customized offerings from suppliers [Relation] enable [Effect] Industry travel content continues to grow",
    "gold": "[Cause] more customized offerings from suppliers [Relation] cause [Effect]  increases the amount of available content that can be searched for and processed",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Due to store closures (including the 2018 liquidation of Bon-Ton Stores) and actions taken by Capri, the number of wholesale doors that carry Michael Kors merchandise fell to 2,852 at the end of fiscal 2021 from 4,038 at the end of fiscal 2015.",
    "output": "[Cause] store closures (including the 2018 liquidation of Bon-Ton Stores) and actions taken by Capri [Relation] cause [Effect] the number of wholesale doors that carry Michael Kors merchandise fell to 2,852 at the end of fiscal 2021 from 4,038 at the end of fiscal 2015",
    "gold": "[Cause] store closures (including the 2018 liquidation of Bon-Ton Stores) and actions taken by Capri [Relation] cause [Effect] the number of wholesale doors that carry Michael Kors merchandise fell to 2,852 at the end of fiscal 2021 from 4,038 at the end of fiscal 2015",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we think DSLR cameras will maintain their position as a high-end product, and that Canon will thus successfully retain most of its customer base, which enables premium pricing and high margins for this business.",
    "output": "[Cause] DSLR cameras will maintain their position as a high-end product [Relation] enable [Effect] Canon will thus successfully retain most of its customer base",
    "gold": "[Cause]  Canon will thus successfully retain most of its customer base [Relation] enable [Effect] premium pricing and high margins for this business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we think DSLR cameras will maintain their position as a high-end product, and that Canon will thus successfully retain most of its customer base, which enables premium pricing and high margins for this business.",
    "output": "[Cause] Canon will thus successfully retain most of its customer base [Relation] enable [Effect] premium pricing and high margins for this business",
    "gold": "[Cause]  DSLR cameras will maintain their position as a high-end product [Relation] cause [Effect]  Canon will thus successfully retain most of its customer base",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In response to poor inventory control and heavy discounting, Ralph Lauren closed more than 75 stores, reduced exposure to U.S.",
    "output": "[Cause] poor inventory control and heavy discounting [Relation] cause [Effect] Ralph Lauren closed more than 75 stores",
    "gold": "[Cause] poor inventory control and heavy discounting [Relation] cause [Effect] Ralph Lauren closed more than 75 stores",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In support of its pricing power, Scotts has been able to raise prices 2%-3% nearly every year over the past decade.",
    "output": "[Cause] Scotts has been able to raise prices 2%-3% nearly every year over the past decade [Relation] enable [Effect] In support of its pricing power",
    "gold": "[Cause] In support of its pricing power [Relation] cause [Effect] Scotts has been able to raise prices 2%-3% nearly every year over the past decade",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "CME also benefits from intangible assets as a result of the company's 27% ownership stake in S&P/Dow Jones Indices LLC.",
    "output": "[Cause] the company's 27% ownership stake in S&P/Dow Jones Indices LLC [Relation] cause [Effect] CME also benefits from intangible assets",
    "gold": "[Cause] the company's 27% ownership stake in S&P/Dow Jones Indices LLC [Relation] cause [Effect] CME also benefits from intangible assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "TIM's total market share has declined in recent years, but it has roughly maintained its portion of total industry revenue thanks to a focus on higher-end customers and pricing discipline.",
    "output": "[Cause] a focus on higher-end customers and pricing discipline [Relation] enable [Effect] it has roughly maintained its portion of total industry revenue",
    "gold": "[Cause] it has roughly maintained [Relation] cause [Effect] its portion of total industry revenue thanks to a focus on higher-end customers and pricing discipline.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the previous owners drove up the average hosting fee, the current level of fees does not appear to be sustainable as five of 21 2019 races did not have agreements in place for the 2020 season until after the 2019 season ended.",
    "output": "[Cause] five of 21 2019 races did not have agreements in place for the 2020 season until after the 2019 season ended [Relation] cause [Effect] the current level of fees does not appear to be sustainable",
    "gold": "[Cause] five of 21 2019 races did not have agreements in place for the 2020 season until after the 2019 season ended [Relation] cause [Effect] the current level of fees does not appear to be sustainable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Should carriers begin to gravitate toward electric trucks in the next decade, Paccar has an important advantage with its extensive dealer network should it choose to compete head-to-head with pure-electric truck manufacturers.",
    "output": "[Cause] Should carriers begin to gravitate toward electric trucks in the next decade [Relation] enable [Effect] Paccar has an important advantage with its extensive dealer network should it choose to compete head-to-head with pure-electric truck manufacturers",
    "gold": "[Cause] Should carriers begin to gravitate toward electric trucks in the next decade [Relation] cause [Effect] Paccar has an important advantage with its extensive dealer network should it choose to compete head-to-head with pure-electric truck manufacturers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast revenue growth that remains strong in the final quarter of 2020, bolstering our full-year revenue growth to 2%, helped by demand in off-road, motorcycle, and boat segments, areas that have captured the benefit of social distancing efforts.",
    "output": "[Cause] demand in off-road, motorcycle, and boat segments, areas that have captured the benefit of social distancing efforts [Relation] enable [Effect] revenue growth that remains strong in the final quarter of 2020, bolstering our full-year revenue growth to 2%",
    "gold": "[Cause] demand in off-road, motorcycle, and boat segments, areas that have captured the benefit of social distancing efforts [Relation] cause [Effect] revenue growth that remains strong in the final quarter of 2020, bolstering our full-year revenue growth to 2%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast the South American specialty fertilizer business will continue to grow volumes with rising demand and contribute nearly $120 million of adjusted EBITDA by 2029.",
    "output": "[Cause] rising demand [Relation] cause [Effect] the South American specialty fertilizer business will continue to grow volumes",
    "gold": "[Cause] rising demand [Relation] cause [Effect] the South American specialty fertilizer business will continue to grow volumes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast the South American specialty fertilizer business will continue to grow volumes with rising demand and contribute nearly $120 million of adjusted EBITDA by 2029.",
    "output": "[Cause] rising demand [Relation] cause [Effect] contribute nearly $120 million of adjusted EBITDA by 2029",
    "gold": "[Cause] the South American specialty fertilizer business will continue to grow volumes [Relation] cause [Effect] contribute nearly $120 million of adjusted EBITDA by 2029",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After an expected sales decline in fiscal 2021 due to COVID-19, and an expected rebound in fiscal 2022, we forecast average annual same-store sales growth of just 2% in fiscal 2023-30.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] an expected sales decline in fiscal 2021",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] an expected sales decline in fiscal 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Like many diversified conglomerates in our coverage, Roper is exposed to a number of risks in the broad global economy. These risks include trade disputes and changes in exportation policies (Roper exports about 11% of sales based on 2018 and 2017 sales), cybersecurity risks, and software-product launch-failures in any of its verticals.",
    "output": "[Cause] trade disputes and changes in exportation policies (Roper exports about 11% of sales based on 2018 and 2017 sales), cybersecurity risks, and software-product launch-failures in any of its verticals [Relation] cause [Effect] Roper is exposed to a number of risks in the broad global economy",
    "gold": "[Cause] Like many diversified conglomerates in our coverage, Roper is exposed to a number of risks in the broad global economy [Relation] cause [Effect] trade disputes and changes in exportation policies (Roper exports about 11% of sales based on 2018 and 2017 sales), cybersecurity risks, and software-product launch-failures in any of its verticals",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Its flexible distribution network will help elevate the firm's brand intangible asset, with faster time to delivery improving the do-it-yourself experience and market delivery centers catering to the pro business.",
    "output": "[Cause] Its flexible distribution network [Relation] enable [Effect] elevate the firm's brand intangible asset, with faster time to delivery improving the do-it-yourself experience and market delivery centers catering to the pro business",
    "gold": "[Cause] Its flexible distribution network [Relation] enable [Effect] elevate the firm's brand intangible asset, with faster time to delivery improving the do-it-yourself experience and market delivery centers catering to the pro business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The rise of fabless semiconductor firms has been sustaining the growth of foundries, which has in turn encouraged increased competition.",
    "output": "[Cause] The rise of fabless semiconductor firms [Relation] enable [Effect] sustaining the growth of foundries",
    "gold": "[Cause] The rise of fabless semiconductor firms [Relation] enable [Effect]  sustaining the growth of foundries",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The replacement cycle of digital appliances is usually three to six years, but as most products are commoditized, it is hard for manufacturers to build an ecosystem that prevents customers from moving to different manufacturers.",
    "output": "[Cause] most products are commoditized [Relation] cause [Effect] it is hard for manufacturers to build an ecosystem that prevents customers from moving to different manufacturers",
    "gold": "[Cause] most products are commoditized [Relation] cause [Effect] it is hard for manufacturers to build an ecosystem that prevents customers from moving to different manufacturers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Personalized merchandise should in turn benefit retailers and brands since their products are displayed to an audience with higher buying probability (the equivalent of targeted ads on Google or Facebook).",
    "output": "[Cause] their products are displayed to an audience with higher buying probability [Relation] cause [Effect] Personalized merchandise should in turn benefit retailers and brands",
    "gold": "[Cause] their products are displayed to an audience with higher buying probability [Relation] enable [Effect] Personalized merchandise should in turn benefit retailers and brands",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Motor or inverter failure in factories could result in production stoppages and possibly electrical damage leading to pricey repairs and replacements.",
    "output": "[Cause] Motor or inverter failure in factories [Relation] cause [Effect] production stoppages and possibly electrical damage",
    "gold": "[Cause] Motor or inverter failure in factories [Relation] cause [Effect] production stoppages and possibly electrical damage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Motor or inverter failure in factories could result in production stoppages and possibly electrical damage leading to pricey repairs and replacements.",
    "output": "[Cause] Motor or inverter failure in factories [Relation] cause [Effect] pricey repairs and replacements",
    "gold": "[Cause] electrical damage [Relation] cause [Effect]  pricey repairs and replacements",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "History suggests that carriers hesitate to leave towers that they are on, as non-consolidation-related churn for Crown Castle is historically between 1% and 2%.",
    "output": "[Cause] non-consolidation-related churn for Crown Castle is historically between 1% and 2% [Relation] cause [Effect] carriers hesitate to leave towers that they are on",
    "gold": "[Cause]  carriers hesitate to leave towers that they are on [Relation] enable [Effect]  non-consolidation-related churn for Crown Castle is historically between 1% and 2%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Price increases are easier to implement as a concentrate producer, due to the exponentially lower price points at which it sells and the lower proportion of total bottler cost of goods sold that the beverage base constitutes.",
    "output": "[Cause] the exponentially lower price points at which it sells and the lower proportion of total bottler cost of goods sold that the beverage base constitutes [Relation] cause [Effect] Price increases are easier to implement as a concentrate producer",
    "gold": "[Cause] the exponentially lower price points at which it sells and the lower proportion of total bottler cost of goods sold that the beverage base constitutes [Relation] cause [Effect] Price increases are easier to implement as a concentrate producer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that Paylocity's unified database and focus on collaboration will enable businesses to see the value in the firm's platform and will drive new client adoption alongside further entrenching existing clients within Paylocity.",
    "output": "[Cause] Paylocity's unified database and focus on collaboration [Relation] enable [Effect] businesses to see the value in the firm's platform and will drive new client adoption alongside further entrenching existing clients within Paylocity",
    "gold": "[Cause] Paylocity's unified database and focus on collaboration [Relation] enable [Effect] businesses to see the value in the firm's platform and will drive new client adoption alongside further entrenching existing clients within Paylocity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although Arizona regulation can be challenging, due in part to elected commissioners on the ACC, we expect strong customer and sales growth to allow Pinnacle West to consistently earn above its cost of capital.",
    "output": "[Cause] elected commissioners on the ACC [Relation] cause [Effect] Arizona regulation can be challenging",
    "gold": "[Cause]  elected commissioners on the ACC [Relation] cause [Effect]  Arizona regulation can be challenging",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although Arizona regulation can be challenging, due in part to elected commissioners on the ACC, we expect strong customer and sales growth to allow Pinnacle West to consistently earn above its cost of capital.",
    "output": "[Cause] strong customer and sales growth [Relation] enable [Effect] Pinnacle West to consistently earn above its cost of capital",
    "gold": "[Cause] strong customer and sales growth [Relation] enable [Effect] Pinnacle West to consistently earn above its cost of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Conversely, we think revenue will be driven by price/mix in North America (roughly 2.5%) and Latin America (approximately 6%), as the mature markets of the U.S., Mexico, and Brazil facilitate innovative line extensions and reformulated packaging.",
    "output": "[Cause] the mature markets of the U.S., Mexico, and Brazil facilitate innovative line extensions and reformulated packaging [Relation] cause [Effect] revenue will be driven by price/mix in North America (roughly 2.5%) and Latin America (approximately 6%)",
    "gold": "[Cause] the mature markets of the U.S., Mexico, and Brazil facilitate innovative line extensions and reformulated packaging [Relation] cause [Effect] revenue will be driven by price/mix in North America (roughly 2.5%) and Latin America (approximately 6%)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate gross margin expansion with respect to dating revenue as Tinder's successful subscription model likely will further offset the lower margin app revenue.",
    "output": "[Cause] Tinder's successful subscription model likely will further offset the lower margin app revenue [Relation] cause [Effect] gross margin expansion with respect to dating revenue",
    "gold": "[Cause] Tinder's successful subscription model likely will further offset the lower margin app revenue [Relation] cause [Effect] gross margin expansion with respect to dating revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're anticipating material margin expansion over our forecast period due to synergies from the L3Harris merger, and we think the firm can improve operating margins from about 14.6% in 2021 to 17% at midcycle in 2024.",
    "output": "[Cause] synergies from the L3Harris merger [Relation] cause [Effect] We're anticipating material margin expansion over our forecast period",
    "gold": "[Cause] synergies from the L3Harris merger [Relation] cause [Effect] We're anticipating material margin expansion over our forecast period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're anticipating material margin expansion over our forecast period due to synergies from the L3Harris merger, and we think the firm can improve operating margins from about 14.6% in 2021 to 17% at midcycle in 2024.",
    "output": "[Cause] synergies from the L3Harris merger [Relation] cause [Effect] material margin expansion over our forecast period",
    "gold": "[Cause] synergies from the L3Harris merger [Relation] cause [Effect] we think the firm can improve operating margins from about 14.6% in 2021 to 17% at midcycle in 2024",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Larger hospitals and ICUs are the healthcare organizations that can make the most out of Philips' monitoring solutions as they usually have larger cost bases and more complex workflows, and therefore seek efficiencies.",
    "output": "[Cause] they usually have larger cost bases and more complex workflows [Relation] cause [Effect] seek efficiencies",
    "gold": "[Cause] they usually have larger cost bases and more complex workflows [Relation] enable [Effect] seek efficiencies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the lack of treatment options and a large market opportunity, we project close to $2 billion in probability adjusted annual sales by 2029.",
    "output": "[Cause] the lack of treatment options and a large market opportunity [Relation] cause [Effect] close to $2 billion in probability adjusted annual sales by 2029",
    "gold": "[Cause]  the lack of treatment options and a large market opportunity [Relation] cause [Effect] close to $2 billion in probability adjusted annual sales by 2029",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Unlike its peers, McKesson has made vertical acquisitions into retail pharmacy and specialty pharmaceuticals with clinical (oncology) providers on staff to protect its market share.",
    "output": "[Cause] McKesson has made vertical acquisitions into retail pharmacy and specialty pharmaceuticals with clinical (oncology) providers on staff [Relation] enable [Effect] protect its market share",
    "gold": "[Cause] McKesson has made vertical acquisitions into retail pharmacy and specialty pharmaceuticals with clinical (oncology) providers on staff [Relation] enable [Effect] protect its market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nevertheless, it's worth noting that there are alternative mechanisms for single-serve coffee consumption (such as reusable pods), and to the extent that adoption of these grows, its plausible that the company's growth and margin profile could be compromised.",
    "output": "[Cause] there are alternative mechanisms for single-serve coffee consumption (such as reusable pods), and to the extent that adoption of these grows [Relation] cause [Effect] its plausible that the company's growth and margin profile could be compromised",
    "gold": "[Cause] there are alternative mechanisms for single-serve coffee consumption (such as reusable pods), and to the extent that adoption of these grows [Relation] cause [Effect] its plausible that the company's growth and margin profile could be compromised",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "UPS' top line jumped 14% in 2020, though adjusted margins fell 80 basis points to 10.3% due to mix, heavy network investment, and pension costs.",
    "output": "[Cause] mix, heavy network investment, and pension costs [Relation] cause [Effect] UPS' top line jumped 14% in 2020, though adjusted margins fell 80 basis points to 10.3%",
    "gold": "[Cause] mix, heavy network investment, and pension costs [Relation] cause [Effect] UPS' top line jumped 14% in 2020, though adjusted margins fell 80 basis points to 10.3%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The large ecosystem of AWS users has benefited from the software development efforts of those same users, as they turnaround and offer applications written on AWS for AWS users.",
    "output": "[Cause] they turnaround and offer applications written on AWS for AWS users [Relation] cause [Effect] The large ecosystem of AWS users has benefited from the software development efforts of those same users",
    "gold": "[Cause] they turnaround and offer applications written on AWS for AWS users [Relation] cause [Effect] The large ecosystem of AWS users has benefited from the software development efforts of those same users",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This loyalty presence should offer the potential to leverage data analytics and cross-sell Caesars' growing portfolio, leading to incremental revenue generation.",
    "output": "[Cause] This loyalty presence should offer the potential to leverage data analytics and cross-sell Caesars' growing portfolio [Relation] cause [Effect] incremental revenue generation",
    "gold": "[Cause] This loyalty presence should offer the potential to leverage data analytics and cross-sell Caesars' growing portfolio [Relation] cause [Effect] incremental revenue generation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We view these segments as good add-on services that allow the bank to adequately provide for its clients and to diversify the bank's revenue streams, but we don't see them as sources of sustainable structural advantages.",
    "output": "[Cause] these segments as good add-on services [Relation] enable [Effect] the bank to adequately provide for its clients and to diversify the bank's revenue streams",
    "gold": "[Cause] these segments as good add-on services [Relation] enable [Effect] the bank to adequately provide for its clients and to diversify the bank's revenue streams",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm has thrived under a variety of conditions, but as competition increases and it expands into new markets, the degree of difficulty also rises, in our view.",
    "output": "[Cause] competition increases and it expands into new markets [Relation] cause [Effect] the degree of difficulty also rises",
    "gold": "[Cause] competition increases and it expands into new markets [Relation] cause [Effect] the degree of difficulty also rises",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Illumina's focus on early-stage technologies through its venture capital arm and general acquisition prowess should help give it access to new technology, too.",
    "output": "[Cause] Illumina's focus on early-stage technologies through its venture capital arm and general acquisition prowess [Relation] enable [Effect] give it access to new technology",
    "gold": "[Cause] Illumina's focus on early-stage technologies through its venture capital arm and general acquisition prowess [Relation] cause [Effect]  give it access to new technology",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect steel prices to remain lower for longer, driven by our bearish outlook for Chinese fixed-asset investment and the persistence of structural overcapacity.",
    "output": "[Cause] our bearish outlook for Chinese fixed-asset investment and the persistence of structural overcapacity [Relation] cause [Effect] steel prices to remain lower for longer",
    "gold": "[Cause] our bearish outlook for Chinese fixed-asset investment and the persistence of structural overcapacity [Relation] cause [Effect] steel prices to remain lower for longer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "GeneSight's clinical trial testing and developments have been quite muddy, and we question the validity of its accuracy due to our review of its key clinical trial data highlighted below.",
    "output": "[Cause] our review of its key clinical trial data highlighted below [Relation] cause [Effect] we question the validity of its accuracy",
    "gold": "[Cause] our review of its key clinical trial data highlighted below [Relation] cause [Effect] we question the validity of its accuracy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Bayer's crop science business is well positioned, the challenges caused by COVID-19 are reducing demand for several crop science products.",
    "output": "[Cause] the challenges caused by COVID-19 [Relation] prevent [Effect] demand for several crop science products",
    "gold": "[Cause] the challenges caused by COVID-19 [Relation] prevent [Effect] demand for several crop science products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There is concern that recent investments have been unnecessary, given exceptional demand growth in China that is unlikely to repeat itself in the next 10 years.",
    "output": "[Cause] exceptional demand growth in China that is unlikely to repeat itself in the next 10 years [Relation] cause [Effect] recent investments have been unnecessary",
    "gold": "[Cause] exceptional demand growth in China that is unlikely to repeat itself in the next 10 years [Relation] cause [Effect]  recent investments have been unnecessary",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect aggregates shipment volume to increase to more than 271 million tons within the five-year explicit forecast period of our discounted cash flow model, driven by economic recovery, pent-up construction demand, and acquisitions.",
    "output": "[Cause] economic recovery, pent-up construction demand, and acquisitions [Relation] cause [Effect] aggregates shipment volume to increase to more than 271 million tons within the five-year explicit forecast period of our discounted cash flow model",
    "gold": "[Cause] economic recovery, pent-up construction demand, and acquisitions [Relation] cause [Effect] aggregates shipment volume to increase to more than 271 million tons within the five-year explicit forecast period of our discounted cash flow model",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that the increasing scope of Ritchie Bros.' online offerings should increase its ability to convert prospective sellers into secured contracts.",
    "output": "[Cause] the increasing scope of Ritchie Bros.' online offerings [Relation] enable [Effect] increase its ability to convert prospective sellers into secured contracts",
    "gold": "[Cause] the increasing scope of Ritchie Bros.' online offerings [Relation] enable [Effect] increase its ability to convert prospective sellers into secured contracts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the education services segment (13% of fiscal 2020 revenue) contains some of Wiley's fastest-growing advantaged businesses, leveraging the company's relationships with educational and professional clients.",
    "output": "[Cause] the education services segment (13% of fiscal 2020 revenue) contains some of Wiley's fastest-growing advantaged businesses [Relation] enable [Effect] leveraging the company's relationships with educational and professional clients",
    "gold": "[Cause] leveraging the company's relationships with educational and professional clients [Relation] enable [Effect] the education services segment (13% of fiscal 2020 revenue) contains some of Wiley's fastest-growing advantaged businesses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "It has yet to generate positive free cash flow, so Aphria will continue to rely on outside capital raises, especially as it expands production to meet growing demand.",
    "output": "[Cause] It has yet to generate positive free cash flow [Relation] cause [Effect] Aphria will continue to rely on outside capital raises",
    "gold": "[Cause]  it expands production to meet growing demand [Relation] cause [Effect] t has yet to generate positive free cash flow, so Aphria will continue to rely on outside capital raises",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the near term, we expect double-digit growth and healthy margins to continue with this premium-priced product as biologics grow in popularity as a drug class.",
    "output": "[Cause] biologics grow in popularity as a drug class [Relation] cause [Effect] double-digit growth and healthy margins to continue with this premium-priced product",
    "gold": "[Cause] premium-priced product as biologics grow in popularity [Relation] enable [Effect] double-digit growth and healthy margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Even in Western Europe, the emergence of craft, the shift to the off-trade, and pricing pressure from large retailers, have created an unfavorable cocktail of cyclical and secular headwinds that are likely to hinder long-term organic growth.",
    "output": "[Cause] the emergence of craft, the shift to the off-trade, and pricing pressure from large retailers [Relation] cause [Effect] an unfavorable cocktail of cyclical and secular headwinds that are likely to hinder long-term organic growth",
    "gold": "[Cause]  the emergence of craft, the shift to the off-trade, and pricing pressure from large retailers, [Relation] cause [Effect] created an unfavorable cocktail of cyclical and secular headwinds |  hinder long-term organic growth.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the firm will utilize automation and other technologies to better manage live inventory across its global facilities, resulting in operating margin improvement throughout our explicit forecast.",
    "output": "[Cause] the firm will utilize automation and other technologies to better manage live inventory across its global facilities [Relation] cause [Effect] operating margin improvement throughout our explicit forecast",
    "gold": "[Cause] the firm will utilize automation and other technologies to better manage live inventory across its global facilities [Relation] enable [Effect] operating margin improvement throughout our explicit forecast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're anticipating that capital expenditures will not grow with sales, as the firm has already built out much of its required plant, property, and equipment.",
    "output": "[Cause] the firm has already built out much of its required plant, property, and equipment [Relation] cause [Effect] capital expenditures will not grow with sales",
    "gold": "[Cause] the firm has already built out much of its required plant, property, and equipment [Relation] cause [Effect] capital expenditures will not grow with sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Generally, we do not like universal banking franchises with significant investment banking exposure, as we often find them inferior to the stand-alone investment banks.",
    "output": "[Cause] we often find them inferior to the stand-alone investment banks [Relation] cause [Effect] we do not like universal banking franchises with significant investment banking exposure",
    "gold": "[Cause]  we often find them inferior to the stand-alone investment banks [Relation] cause [Effect]  we do not like universal banking franchises with significant investment banking exposure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, the increasingly viral nature of the media creates a secular ESG risk in the form of potential brand harm that is quite acute for most corporations, in our view.",
    "output": "[Cause] the increasingly viral nature of the media [Relation] cause [Effect] a secular ESG risk in the form of potential brand harm",
    "gold": "[Cause] the increasingly viral nature of the media creates a secular ESG risk in the form of potential brand harm [Relation] prevent [Effect] quite acute for most corporations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we think competition among these firms is generally rational, each company fiercely competes to build the most energy-efficient and eco-friendly climate control products to meet regulations and lower customer's operating costs.",
    "output": "[Cause] each company fiercely competes to build the most energy-efficient and eco-friendly climate control products [Relation] enable [Effect] meet regulations and lower customer's operating costs",
    "gold": "[Cause] each company fiercely competes to build the most energy-efficient and eco-friendly climate control products [Relation] enable [Effect] meet regulations and lower customer's operating costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The risk from carbon emissions is most likely to materialize through a carbon tax, which increases the price of end products to consumers, reducing demand over time and threatening Chevron's core business.",
    "output": "[Cause] The risk from carbon emissions is most likely to materialize through a carbon tax [Relation] cause [Effect] increases the price of end products to consumers, reducing demand over time and threatening Chevron's core business",
    "gold": "[Cause]  a carbon tax [Relation] cause [Effect] The risk from carbon emissions is most likely to materialize",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "NJR's customer growth and ability to recover large investments through annual rate adjustments mitigate the impact on cash flows and earnings.",
    "output": "[Cause] NJR's customer growth and ability to recover large investments through annual rate adjustments [Relation] prevent [Effect] the impact on cash flows and earnings",
    "gold": "[Cause] NJR's customer growth and ability to recover large investments through annual rate adjustments [Relation] prevent [Effect] the impact on cash flows and earnings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect the consumer business will struggle to maintain profitability in future years as the television business continues to shrink.",
    "output": "[Cause] the television business continues to shrink [Relation] cause [Effect] the consumer business will struggle to maintain profitability in future years",
    "gold": "[Cause] the television business continues to shrink [Relation] cause [Effect] the consumer business will struggle to maintain profitability in future years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we do not think COVID-19 will lead to unmanageable medical costs for insurers in 2020, we think the underutilization of the healthcare system could create pricing risks for insurers.",
    "output": "[Cause] the underutilization of the healthcare system [Relation] cause [Effect] create pricing risks for insurers",
    "gold": "[Cause] the underutilization of the healthcare system [Relation] cause [Effect] create pricing risks for insurers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The expected improvements are split nearly evenly between gains in gross margin thanks to the slimming down of the product portfolio for production animals and consolidation of manufacturing sites.",
    "output": "[Cause] the slimming down of the product portfolio for production animals and consolidation of manufacturing sites [Relation] cause [Effect] The expected improvements are split nearly evenly between gains in gross margin",
    "gold": "[Cause] the slimming down of the product portfolio for production animals and consolidation of manufacturing sites [Relation] cause [Effect] The expected improvements are split nearly evenly between gains in gross margin",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, new or cheaper sequencing tools may eventually displace Illumina's stronghold in genomic sequencing, and the company's $8 billion bet on Grail's liquid biopsy technology will expose it to a new risk of disruptive technologies in the very large but nascent preventative care testing market for cancer.",
    "output": "[Cause] new or cheaper sequencing tools [Relation] enable [Effect] displace Illumina's stronghold in genomic sequencing",
    "gold": "[Cause] the company's $8 billion bet on Grail's liquid biopsy technology [Relation] enable [Effect]  it to a new risk of disruptive technologies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, there may always be an inherent conflict of interest between its employees and clients given potential transaction-based compensation structures.",
    "output": "[Cause] potential transaction-based compensation structures [Relation] cause [Effect] there may always be an inherent conflict of interest between its employees and clients",
    "gold": "[Cause] potential transaction-based compensation structures [Relation] cause [Effect] there may always be an inherent conflict of interest between its employees and clients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ESG-related risks include changes in policy related to climate change such as a carbon tax that could result in higher costs, reduced demand, or stranded resources.",
    "output": "[Cause] changes in policy related to climate change such as a carbon tax [Relation] cause [Effect] higher costs, reduced demand, or stranded resources",
    "gold": "[Cause] changes in policy related to climate change such as a carbon tax that could result in higher costs, reduced demand, or stranded resources [Relation] cause [Effect] ESG-related risks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "An increased regulatory push for open access to academic research could threaten Wiley's journals business if it came at publishers' expense.",
    "output": "[Cause] An increased regulatory push for open access to academic research [Relation] cause [Effect] threaten Wiley's journals business",
    "gold": "[Cause] An increased regulatory push for open access to academic research [Relation] cause [Effect] threaten Wiley's journals business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Smith &amp; Nephew should enjoy a respectable footprint in the skin substitute market with purchase of Osiris, and we recognize this segment of the advanced wound-care market has seen robust growth and innovation.",
    "output": "[Cause] purchase of Osiris [Relation] enable [Effect] Smith &amp; Nephew should enjoy a respectable footprint in the skin substitute market",
    "gold": "[Cause] we recognize this segment of the advanced wound-care market has seen robust growth and innovation [Relation] enable [Effect] Smith &amp; Nephew should enjoy a respectable footprint in the skin substitute market with purchase of Osiris",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Credit losses will be one of the key variables as the economy recovers from the pandemic, and we currently project that the large reserve builds are now behind Wells--and we may even see some reserve releases going forward as credit losses are ultimately lower than what was initially expected..",
    "output": "[Cause] credit losses are ultimately lower than what was initially expected [Relation] cause [Effect] some reserve releases going forward",
    "gold": "[Cause] credit losses are ultimately lower than what was initially expected [Relation] cause [Effect] some reserve releases going forward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite both China Unicom and China Telecom earning below WACC returns, the government has taken an active role in setting industrywide prices and price reduction targets that have slowed revenue and profit growth, making it more difficult for the smaller operators to lift their returns toward WACC.",
    "output": "[Cause] both China Unicom and China Telecom earning below WACC returns [Relation] cause [Effect] the government has taken an active role in setting industrywide prices and price reduction targets",
    "gold": "[Cause] the government has taken an active role in setting industrywide prices and price reduction targets [Relation] enable [Effect] have slowed revenue and profit growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Despite both China Unicom and China Telecom earning below WACC returns, the government has taken an active role in setting industrywide prices and price reduction targets that have slowed revenue and profit growth, making it more difficult for the smaller operators to lift their returns toward WACC.",
    "output": "[Cause] the government has taken an active role in setting industrywide prices and price reduction targets [Relation] prevent [Effect] revenue and profit growth",
    "gold": "[Cause] have slowed revenue and profit growth [Relation] enable [Effect] making it more difficult for the smaller operators to lift their returns toward WACC",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The cereal business (40% of 2019 revenue) has been declining (outside of the pandemic) as consumers have shifted away from processed, high-sugar, high-carbohydrate fare.",
    "output": "[Cause] consumers have shifted away from processed, high-sugar, high-carbohydrate fare [Relation] cause [Effect] The cereal business (40% of 2019 revenue) has been declining (outside of the pandemic)",
    "gold": "[Cause] consumers have shifted away from processed, high-sugar, high-carbohydrate fare [Relation] cause [Effect] The cereal business (40% of 2019 revenue) has been declining (outside of the pandemic)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Bank branches are declining in importance as more transactions take place digitally, and it is still uncertain how this dynamic will ultimately play out.",
    "output": "[Cause] more transactions take place digitally [Relation] cause [Effect] Bank branches are declining in importance",
    "gold": "[Cause] more transactions take place digitally [Relation] cause [Effect] Bank branches are declining in importance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that the national networks increasingly hold the upper hand, in part due to the relatively higher viewing of national content versus local content and to their direct-to-consumer offerings.",
    "output": "[Cause] the relatively higher viewing of national content versus local content and to their direct-to-consumer offerings [Relation] cause [Effect] the national networks increasingly hold the upper hand",
    "gold": "[Cause] the relatively higher viewing of national content versus local content and to their direct-to-consumer offerings [Relation] cause [Effect] the national networks increasingly hold the upper hand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With VMware's expected spin-off from Dell toward the end of 2021, the company faces risks with integrating with other partners and going to market outside the Dell umbrella.",
    "output": "[Cause] VMware's expected spin-off from Dell toward the end of 2021 [Relation] cause [Effect] the company faces risks with integrating with other partners and going to market outside the Dell umbrella",
    "gold": "[Cause]  VMware's expected spin-off from Dell toward the end of 2021 [Relation] cause [Effect] the company faces risks with integrating with other partners and going to market outside the Dell umbrella",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's desirable community footprint and land supply come at a price, however, as premier land parcels are more expensive and can have less favorable purchasing terms for the buyer (that is, fewer opportunities for Toll Brothers to procure land on option).",
    "output": "[Cause] premier land parcels are more expensive and can have less favorable purchasing terms for the buyer [Relation] cause [Effect] The company's desirable community footprint and land supply come at a price",
    "gold": "[Cause] as premier land parcels are more expensive and can have less favorable purchasing terms [Relation] cause [Effect] fewer opportunities for Toll Brothers to procure land on option",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the Upjohn products represented close to 15% of total sales, the drugs are largely declining as generic competition is eroding pricing power and market share.",
    "output": "[Cause] generic competition is eroding pricing power and market share [Relation] cause [Effect] the drugs are largely declining",
    "gold": "[Cause] generic competition is eroding pricing power and market share [Relation] cause [Effect] the drugs are largely declining",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In response to declining demand for high-fructose corn syrup, the company has been developing more specialty products, which command higher margins.",
    "output": "[Cause] In response to declining demand for high-fructose corn syrup [Relation] cause [Effect] the company has been developing more specialty products, which command higher margins",
    "gold": "[Cause]  the company has been developing more specialty products [Relation] enable [Effect] command higher margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Livent has a cost advantage in lithium carbonate production due to its lucrative brine assets in the Salar del Hombre Muerto in Argentina.",
    "output": "[Cause] its lucrative brine assets in the Salar del Hombre Muerto in Argentina [Relation] cause [Effect] Livent has a cost advantage in lithium carbonate production",
    "gold": "[Cause] its lucrative brine assets in the Salar del Hombre Muerto in Argentina [Relation] cause [Effect] Livent has a cost advantage in lithium carbonate production",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Global staffers are more likely to sign on multinationals, which to some degree does draw more candidates to join the network, but we think that Manpower's competitors, Adecco and Randstad, are capable of meeting employer demand, especially with low-skill jobs.",
    "output": "[Cause] Global staffers are more likely to sign on multinationals [Relation] enable [Effect] draw more candidates to join the network",
    "gold": "[Cause] Global staffers are more likely to sign on multinationals [Relation] cause [Effect] draw more candidates to join the network",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A company risks business disruption if a failed software migration prevents it from servicing customers, possibly resulting in lost revenue.",
    "output": "[Cause] a failed software migration prevents it from servicing customers [Relation] cause [Effect] A company risks business disruption",
    "gold": "[Cause] a failed software migration prevents it from servicing customers [Relation] cause [Effect] A company risks business disruption",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The Chesapeake acquisition should provide an additional source of growth as the company drives higher operating efficiencies across this new portfolio.",
    "output": "[Cause] the company drives higher operating efficiencies across this new portfolio [Relation] cause [Effect] The Chesapeake acquisition should provide an additional source of growth",
    "gold": "[Cause] The Chesapeake acquisition [Relation] enable [Effect] an additional source of growth as the company drives higher operating efficiencies across this new portfolio",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also think that, like Catia, moving from an alternative midmarket CAD software is arduous, which we think leads to significant switching costs for SolidWorks.",
    "output": "[Cause] moving from an alternative midmarket CAD software is arduous [Relation] cause [Effect] significant switching costs for SolidWorks",
    "gold": "[Cause] moving from an alternative midmarket CAD software is arduous [Relation] cause [Effect]  significant switching costs for SolidWorks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we expect products, like laundry and vitamins, will continue to be in high demand as a focus on wellness and cleaning remains at the forefront for consumers.",
    "output": "[Cause] a focus on wellness and cleaning remains at the forefront for consumers [Relation] cause [Effect] products, like laundry and vitamins, will continue to be in high demand",
    "gold": "[Cause]  a focus on wellness and cleaning remains at the forefront for consumers [Relation] enable [Effect] products, like laundry and vitamins, will continue to be in high demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see some environmental, social, and governance risks for Delta, which is largely a function of the greenhouse gas emissions from the company's operations.",
    "output": "[Cause] greenhouse gas emissions from the company's operations [Relation] cause [Effect] some environmental, social, and governance risks for Delta",
    "gold": "[Cause] greenhouse gas emissions from the company's operations [Relation] cause [Effect]  some environmental, social, and governance risks for Delta",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Currently, expense growth is eating up most revenue growth, and operating leverage may remain challenging in the medium term, as such we do not forecast major improvements in efficiency.",
    "output": "[Cause] expense growth is eating up most revenue growth, and operating leverage may remain challenging in the medium term [Relation] cause [Effect] we do not forecast major improvements in efficiency",
    "gold": "[Cause] expense growth is eating up most revenue growth, and operating leverage may remain challenging in the medium term [Relation] cause [Effect] we do not forecast major improvements in efficiency",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, Oregon issued too many cultivation licenses upon recreational legalization, leading to significant oversupply and very low selling prices.",
    "output": "[Cause] Oregon issued too many cultivation licenses upon recreational legalization [Relation] cause [Effect] significant oversupply and very low selling prices",
    "gold": "[Cause] Oregon issued too many cultivation licenses upon recreational legalization [Relation] cause [Effect] significant oversupply and very low selling prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As such, a strong record of reliability is crucial to win business, considering the risk of product failures leading to unplanned outages or wasted material.",
    "output": "[Cause] the risk of product failures [Relation] cause [Effect] unplanned outages or wasted material",
    "gold": "[Cause] the risk of product failures [Relation] cause [Effect] unplanned outages or wasted material",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As such, a strong record of reliability is crucial to win business, considering the risk of product failures leading to unplanned outages or wasted material.",
    "output": "[Cause] the risk of product failures [Relation] cause [Effect] unplanned outages or wasted material",
    "gold": "[Cause] the risk of product failures leading to unplanned outages or wasted material [Relation] cause [Effect] a strong record of reliability is crucial to win business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, we believe that thanks to its strong position in the water and environment end markets, Aecom is poised to capitalize on environmental, social, and governance opportunities as customers implement more sustainable and energy-efficient solutions.",
    "output": "[Cause] its strong position in the water and environment end markets [Relation] enable [Effect] Aecom is poised to capitalize on environmental, social, and governance opportunities",
    "gold": "[Cause]  its strong position in the water and environment end markets [Relation] cause [Effect]  Aecom is poised to capitalize on environmental, social, and governance opportunities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, we believe that thanks to its strong position in the water and environment end markets, Aecom is poised to capitalize on environmental, social, and governance opportunities as customers implement more sustainable and energy-efficient solutions.",
    "output": "[Cause] customers implement more sustainable and energy-efficient solutions [Relation] enable [Effect] Aecom is poised to capitalize on environmental, social, and governance opportunities",
    "gold": "[Cause]  customers implement more sustainable and energy-efficient solutions [Relation] cause [Effect]  Aecom is poised to capitalize on environmental, social, and governance opportunities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Refining margins had been high at around USD 10.35 per barrel in 2017, and USD 9.54 in 2018, and have since eased to USD 4.76 in 2020, partly due to the negative impact from the COVID-19 outbreak.",
    "output": "[Cause] the negative impact from the COVID-19 outbreak [Relation] cause [Effect] Refining margins had been high at around USD 10.35 per barrel in 2017, and USD 9.54 in 2018, and have since eased to USD 4.76 in 2020",
    "gold": "[Cause]  the negative impact from the COVID-19 outbreak [Relation] cause [Effect] Refining margins had been high at around USD 10.35 per barrel in 2017, and USD 9.54 in 2018, and have since eased to USD 4.76 in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Cullen/Frost's business model does have heavy interest rate exposure, as the majority of the bank's loans are floating rate loans, the bank has proven that even within a low interest rate environment it can earn excess returns on tangible equity.",
    "output": "[Cause] the majority of the bank's loans are floating rate loans [Relation] cause [Effect] Cullen/Frost's business model does have heavy interest rate exposure",
    "gold": "[Cause]  the majority of the bank's loans are floating rate loans [Relation] cause [Effect] Cullen/Frost's business model does have heavy interest rate exposure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Cullen/Frost's business model does have heavy interest rate exposure, as the majority of the bank's loans are floating rate loans, the bank has proven that even within a low interest rate environment it can earn excess returns on tangible equity.",
    "output": "[Cause] the majority of the bank's loans are floating rate loans [Relation] cause [Effect] earn excess returns on tangible equity",
    "gold": "[Cause] earn excess returns on tangible equity [Relation] prevent [Effect] heavy interest rate exposure",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With 6,549 stores and 5.9 million square feet of distribution center space as of the end of fiscal 2020, AutoZone is able to quickly shift inventory to meet customer demand while keeping reserves of slower-moving parts that can rapidly be delivered to stores if needed. This enables AutoZone to maximize its inventory turnover (subject to the constraints of a low-turn industry) by holding slow-moving SKUs at distribution centers and hub stores serving many traditional locations in their vicinity.",
    "output": "[Cause] With 6,549 stores and 5.9 million square feet of distribution center space as of the end of fiscal 2020, AutoZone is able to quickly shift inventory to meet customer demand while keeping reserves of slower-moving parts that can rapidly be delivered to stores if needed [Relation] enable [Effect] AutoZone to maximize its inventory turnover (subject to the constraints of a low-turn industry) by holding slow-moving SKUs at distribution centers and hub stores serving many traditional locations in their vicinity",
    "gold": "[Cause] With 6,549 stores and 5.9 million square feet of distribution center space as of the end of fiscal 2020, AutoZone is able to quickly shift inventory to meet customer demand while keeping reserves of slower-moving parts that can rapidly be delivered to stores if needed [Relation] enable [Effect] AutoZone to maximize its inventory turnover (subject to the constraints of a low-turn industry) by holding slow-moving SKUs at distribution centers and hub stores serving many traditional locations in their vicinity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since products are procured on a sole-source basis for the life of an aircraft, suppliers have substantial revenue visibility tied to aircraft production runs that last decades.",
    "output": "[Cause] products are procured on a sole-source basis for the life of an aircraft [Relation] cause [Effect] suppliers have substantial revenue visibility tied to aircraft production runs that last decades",
    "gold": "[Cause] products are procured on a sole-source basis for the life of an aircraft [Relation] cause [Effect] suppliers have substantial revenue visibility tied to aircraft production runs that last decades",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If rates rise faster than expected, units could underperform as a steepening yield curve increases expected distribution yield for competing assets.",
    "output": "[Cause] rates rise faster than expected [Relation] cause [Effect] units could underperform as a steepening yield curve increases expected distribution yield for competing assets",
    "gold": "[Cause] rates rise faster than expected [Relation] cause [Effect]  units could underperform as a steepening yield curve increases expected distribution yield for competing assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also believe that while upselling may not be as critical for the company as it is for other software stories, Tyler's product depth and leadership should ultimately drive upselling on a larger scale.",
    "output": "[Cause] Tyler's product depth and leadership [Relation] enable [Effect] ultimately drive upselling on a larger scale",
    "gold": "[Cause] Tyler's product depth and leadership [Relation] enable [Effect] ultimately drive upselling on a larger scale",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The combination of these valuable assets and expected continuing growth in online advertising bodes well for Facebook, as the firm generates strong Internet Content & Informationtop-line growth and remains cash flow positive and profitable.",
    "output": "[Cause] the firm generates strong Internet Content & Informationtop-line growth and remains cash flow positive and profitable [Relation] cause [Effect] The combination of these valuable assets and expected continuing growth in online advertising bodes well for Facebook",
    "gold": "[Cause]  the firm generates strong Internet Content & Informationtop-line growth and remains cash flow positive and profitable [Relation] cause [Effect] The combination of these valuable assets and expected continuing growth in online advertising bodes well for Facebook",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, since much of the sales are negotiated at the state and local level, rather than federal, we believe it is unlikely that a uniform response will develop that is likely to disrupt Motorola's power and reputation as the go-to supplier in public markets.",
    "output": "[Cause] much of the sales are negotiated at the state and local level, rather than federal [Relation] cause [Effect] it is unlikely that a uniform response will develop that is likely to disrupt Motorola's power and reputation as the go-to supplier in public markets",
    "gold": "[Cause] much of the sales are negotiated at the state and local level, rather than federal [Relation] cause [Effect] it is unlikely that a uniform response will develop that is likely to disrupt Motorola's power and reputation as the go-to supplier in public markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Oil spills are an ever-present risk for oil companies operating offshore and can be devasting to a firm's value as BP's Macondo incident in the Gulf of Mexico shows.",
    "output": "[Cause] Oil spills [Relation] cause [Effect] be devasting to a firm's value",
    "gold": "[Cause] Oil spills [Relation] cause [Effect] be devasting to a firm's value",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Following a challenging 2020 due to the COVID-19 pandemic, we project roughly 7% average annual revenue growth from 2021 through 2025, fueled by high-single-digit growth in the measurement and control solutions segment.",
    "output": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] a challenging 2020",
    "gold": "[Cause] the COVID-19 pandemic [Relation] cause [Effect]  we project roughly 7% average annual revenue growth from 2021 through 2025, fueled by high-single-digit growth in the measurement and control solutions segment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In fact, its returns on invested capital averaged in the midteens since 2008, comfortably above our 9% cost of capital assumption--a testament to the carrier's best-in-class execution.",
    "output": "[Cause] its returns on invested capital averaged in the midteens since 2008, comfortably above our 9% cost of capital assumption [Relation] enable [Effect] the carrier's best-in-class execution",
    "gold": "[Cause]  its returns on invested capital averaged in the midteens since 2008, comfortably above our 9% cost of capital assumption [Relation] cause [Effect] the carrier's best-in-class execution",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the lower cost of the drug in other countries, drug sales could take a hit if congress acts on drug pricing, with Xifaxan particularly exposed to international drug reference pricing.",
    "output": "[Cause] congress acts on drug pricing [Relation] cause [Effect] drug sales could take a hit",
    "gold": "[Cause] congress acts on drug pricing [Relation] cause [Effect] drug sales could take a hit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our base-case scenario, we project operating margins expanding by roughly 250 basis points in the medium term (from 25.5% in 2020 to approximately 28% by 2025), as we think the company can leverage higher volumes to drive increased profitability.",
    "output": "[Cause] the company can leverage higher volumes to drive increased profitability [Relation] cause [Effect] operating margins expanding by roughly 250 basis points in the medium term",
    "gold": "[Cause]  the company can leverage higher volumes to drive increased profitability [Relation] cause [Effect]  operating margins expanding by roughly 250 basis points in the medium term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The latest merger between SunTrust and BB&T likely presents the highest execution risks to date, given the relative sizes of each firm.",
    "output": "[Cause] the relative sizes of each firm [Relation] cause [Effect] The latest merger between SunTrust and BB&T likely presents the highest execution risks to date",
    "gold": "[Cause]  the relative sizes of each firm [Relation] cause [Effect] The latest merger between SunTrust and BB&T likely presents the highest execution risks to date",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Pipeline projects typically seek to lock in project economics through long-term contracts with shippers before ever breaking ground on a new project and don't incur direct commodity risk.",
    "output": "[Cause] long-term contracts with shippers before ever breaking ground on a new project [Relation] enable [Effect] lock in project economics",
    "gold": "[Cause] long-term contracts with shippers before ever breaking ground on a new project [Relation] enable [Effect]  lock in project economics",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lilly's entrenched insulin franchise creates an added layer of competitive advantage, as interchangeable insulin competition seems many years away due to the complexity of gaining generic approval for insulin and the high cost to build the needed economy of scale for insulin production.",
    "output": "[Cause] interchangeable insulin competition seems many years away due to the complexity of gaining generic approval for insulin and the high cost to build the needed economy of scale for insulin production [Relation] cause [Effect] Lilly's entrenched insulin franchise creates an added layer of competitive advantage",
    "gold": "[Cause]  interchangeable insulin competition seems many years away due to the complexity of gaining generic approval for insulin and the high cost to build the needed economy of scale for insulin production [Relation] enable [Effect] Lilly's entrenched insulin franchise creates an added layer of competitive advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Financing inventories through this mechanism offsets the balance sheet cost of providing high availability levels for slow-moving items, enabling a standard of service that is uneconomical for smaller peers.",
    "output": "[Cause] offsets the balance sheet cost of providing high availability levels for slow-moving items [Relation] enable [Effect] enabling a standard of service that is uneconomical for smaller peers",
    "gold": "[Cause] offsets the balance sheet cost of providing high availability levels for slow-moving items [Relation] enable [Effect] enabling a standard of service that is uneconomical for smaller peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we think Lennar's scale and industry reputation have helped build strong relationships with subcontractors and land developers, we don't think the company is able to negotiate meaningful long-term price concessions, especially given the tightness of the current construction labor market and land supply.",
    "output": "[Cause] Lennar's scale and industry reputation [Relation] enable [Effect] build strong relationships with subcontractors and land developers",
    "gold": "[Cause]  Lennar's scale and industry reputation have helped build strong relationships with subcontractors and land developers [Relation] prevent [Effect]  the company is able to negotiate meaningful long-term price concessions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The malt industry is also similar to CSDs in that different beers typically fall somewhere in the middle of the spectrum as it relates to differentiability; they're not completely fungible commodities, but the essence and functional uses of the products are similar enough (stress relief, inebriation, or the like).",
    "output": "[Cause] it relates to differentiability [Relation] cause [Effect] different beers typically fall somewhere in the middle of the spectrum",
    "gold": "[Cause] different beers typically fall somewhere in the middle of the spectrum [Relation] cause [Effect] The malt industry is also similar to CSDs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The malt industry is also similar to CSDs in that different beers typically fall somewhere in the middle of the spectrum as it relates to differentiability; they're not completely fungible commodities, but the essence and functional uses of the products are similar enough (stress relief, inebriation, or the like).",
    "output": "[Cause] different beers typically fall somewhere in the middle of the spectrum [Relation] cause [Effect] The malt industry is also similar to CSDs",
    "gold": "[Cause]  it relates to differentiability [Relation] cause [Effect] different beers typically fall somewhere in the middle of the spectrum",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, it is plausible, based on various economic convergence theories, that as per-capita incomes rise globally, current value segments of the beer category are entirely eviscerated and replaced by a portion of what is now considered premium fare.",
    "output": "[Cause] per-capita incomes rise globally [Relation] cause [Effect] current value segments of the beer category are entirely eviscerated and replaced by a portion of what is now considered premium fare",
    "gold": "[Cause]  per-capita incomes rise globally [Relation] cause [Effect] current value segments of the beer category are entirely eviscerated and replaced by a portion of what is now considered premium fare",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The long, expensive, and capital-intensive process of designing and manufacturing an aircraft is a second major barrier to entry into the commercial aviation manufacturing business.",
    "output": "[Cause] The long, expensive, and capital-intensive process of designing and manufacturing an aircraft [Relation] prevent [Effect] entry into the commercial aviation manufacturing business",
    "gold": "[Cause] The long, expensive, and capital-intensive process of designing and manufacturing an aircraft [Relation] prevent [Effect] entry into the commercial aviation manufacturing business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe greater commoditization in the specialty dental markets poses a significant risk to Dentsply Sirona's long-term competitive advantage.",
    "output": "[Cause] greater commoditization in the specialty dental markets [Relation] cause [Effect] poses a significant risk to Dentsply Sirona's long-term competitive advantage",
    "gold": "[Cause] greater commoditization in the specialty dental markets [Relation] cause [Effect] poses a significant risk to Dentsply Sirona's long-term competitive advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We don't see any major concerns about Asbury for ESG investors as we see no significant or unique inherent risk issues about the firm that would be different from other dealerships.",
    "output": "[Cause] we see no significant or unique inherent risk issues about the firm that would be different from other dealerships [Relation] cause [Effect] We don't see any major concerns about Asbury for ESG investors",
    "gold": "[Cause] we see no significant or unique inherent risk issues about the firm that would be different from other dealerships [Relation] cause [Effect] We don't see any major concerns about Asbury for ESG investors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Without the legislative requirements to buy renewable energy, demand for Ormat's production could slip and make its growth less certain.",
    "output": "[Cause] Without the legislative requirements to buy renewable energy [Relation] cause [Effect] demand for Ormat's production could slip and make its growth less certain",
    "gold": "[Cause] Without the legislative requirements to buy renewable energy [Relation] cause [Effect]  demand for Ormat's production could slip and make its growth less certain",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Structural differences between the two markets, such as larger homes in the U.S., resulting in more frequent and larger tickets, also contribute to higher profitability.",
    "output": "[Cause] Structural differences between the two markets, such as larger homes in the U.S. [Relation] cause [Effect] higher profitability",
    "gold": "[Cause] Structural differences between the two markets, such as larger homes in the U.S. [Relation] enable [Effect] higher profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Once an aircraft is certified, aircraft manufacturers tend to keep critical equipment in place until the aircraft is fully redesigned (usually after several decades) because adding a new supplier's equipment could disrupt production and require the recertification of the aircraft, which takes years.",
    "output": "[Cause] adding a new supplier's equipment could disrupt production and require the recertification of the aircraft, which takes years [Relation] cause [Effect] Once an aircraft is certified, aircraft manufacturers tend to keep critical equipment in place until the aircraft is fully redesigned (usually after several decades)",
    "gold": "[Cause] adding a new supplier's equipment could disrupt production and require the recertification of the aircraft, which takes years [Relation] cause [Effect] Once an aircraft is certified, aircraft manufacturers tend to keep critical equipment in place until the aircraft is fully redesigned (usually after several decades)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a broad domestic manufacturing and distribution network, Kellogg operates with lower unit and distribution costs as well as greater supply chain efficiency and an enhanced ability to leverage brand spending than smaller peers, in our opinion.",
    "output": "[Cause] a broad domestic manufacturing and distribution network [Relation] enable [Effect] Kellogg operates with lower unit and distribution costs as well as greater supply chain efficiency and an enhanced ability to leverage brand spending than smaller peers",
    "gold": "[Cause] a broad domestic manufacturing and distribution network [Relation] cause [Effect] Kellogg operates with lower unit and distribution costs as well as greater supply chain efficiency and an enhanced ability to leverage brand spending than smaller peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Constructive regulatory decisions give us confidence PSEG can reach the upper end of its $12.5 billion-14.7 billion five-year investment plan at the regulated utility.",
    "output": "[Cause] Constructive regulatory decisions [Relation] enable [Effect] PSEG can reach the upper end of its $12.5 billion-14.7 billion five-year investment plan at the regulated utility",
    "gold": "[Cause] Constructive regulatory decisions [Relation] enable [Effect] PSEG can reach the upper end of its $12.5 billion-14.7 billion five-year investment plan at the regulated utility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to COVID-19, most of the company-owned and third-party stores that sell its merchandise worldwide were forced to close temporarily, and there are still some adverse effects.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] most of the company-owned and third-party stores that sell its merchandise worldwide were forced to close temporarily",
    "gold": "[Cause]  COVID-19 [Relation] cause [Effect] most of the company-owned and third-party stores that sell its merchandise worldwide were forced to close temporarily",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, these expenses have exceeded 45% of revenue in the last three years, and we expect this will continue to be the case for most of the next 10 years. Consequently, we forecast PVH's average annual adjusted operating margin at less than 9% over the next 10 years, about 2 percentage points lower than the average over the past 10.",
    "output": "[Cause] these expenses have exceeded 45% of revenue in the last three years, and we expect this will continue to be the case for most of the next 10 years [Relation] cause [Effect] PVH's average annual adjusted operating margin at less than 9% over the next 10 years, about 2 percentage points lower than the average over the past 10",
    "gold": "[Cause] these expenses have exceeded 45% of revenue in the last three years, and we expect this will continue to be the case for most of the next 10 years [Relation] cause [Effect] PVH's average annual adjusted operating margin at less than 9% over the next 10 years, about 2 percentage points lower than the average over the past 10",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we expect Palo Alto to remain acquisitive and dedicated to organic innovation, we believe significant operating leverage will be gained throughout the coming decade as recurring subscription and support revenue streams flow from its expansive customer base.",
    "output": "[Cause] recurring subscription and support revenue streams flow from its expansive customer base [Relation] cause [Effect] significant operating leverage will be gained throughout the coming decade",
    "gold": "[Cause] recurring subscription and support revenue streams flow from its expansive customer base [Relation] cause [Effect] significant operating leverage will be gained throughout the coming decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Many of these end markets are driven by local governments, making them quite stable, though energy-related capital expenditures are quite volatile and drive much of the variance in deliveries.",
    "output": "[Cause] Many of these end markets are driven by local governments [Relation] enable [Effect] making them quite stable",
    "gold": "[Cause] Many of these end markets are driven by local governments [Relation] enable [Effect] making them quite stable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Many of these end markets are driven by local governments, making them quite stable, though energy-related capital expenditures are quite volatile and drive much of the variance in deliveries.",
    "output": "[Cause] energy-related capital expenditures are quite volatile [Relation] cause [Effect] drive much of the variance in deliveries",
    "gold": "[Cause] energy-related capital expenditures are quite volatile [Relation] enable [Effect] drive much of the variance in deliveries",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, the rise of $0 commissions, changes in investor behavior, and the availability of futures on retail brokerage platforms will provide a permanent tailwind to CME's equity business.",
    "output": "[Cause] the availability of futures on retail brokerage platforms [Relation] cause [Effect] provide a permanent tailwind to CME's equity business",
    "gold": "[Cause] changes in investor behavior [Relation] cause [Effect] provide a permanent tailwind to CME's equity business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, the rise of $0 commissions, changes in investor behavior, and the availability of futures on retail brokerage platforms will provide a permanent tailwind to CME's equity business.",
    "output": "[Cause] the availability of futures on retail brokerage platforms [Relation] cause [Effect] provide a permanent tailwind to CME's equity business",
    "gold": "[Cause] the availability of futures on retail brokerage platforms [Relation] cause [Effect] provide a permanent tailwind to CME's equity business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sonoco does not have a history of making large acquisitions or stretching its balance sheet, so a particularly large acquisition might present an integration challenge.",
    "output": "[Cause] Sonoco does not have a history of making large acquisitions or stretching its balance sheet [Relation] cause [Effect] a particularly large acquisition might present an integration challenge",
    "gold": "[Cause] Sonoco does not have a history of making large acquisitions or stretching its balance sheet [Relation] cause [Effect]  a particularly large acquisition might present an integration challenge",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overview of China's Education Industry's Key Regulatory Requirements:  The Chinese education sector is highly influenced by government policy, given any tightened governmental regulations may impact the share price performance of the whole education sector.",
    "output": "[Cause] any tightened governmental regulations may impact the share price performance of the whole education sector [Relation] cause [Effect] The Chinese education sector is highly influenced by government policy",
    "gold": "[Cause] any tightened governmental regulations may impact the share price performance of the whole education sector [Relation] cause [Effect]   The Chinese education sector is highly influenced by government policy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Eversource has derisked its capital investment budget by finding smaller distribution projects to offset the loss of large projects it has proposed, notably Northern Pass.",
    "output": "[Cause] finding smaller distribution projects [Relation] enable [Effect] Eversource has derisked its capital investment budget",
    "gold": "[Cause] finding smaller distribution projects [Relation] enable [Effect] Eversource has derisked its capital investment budget",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Eversource has derisked its capital investment budget by finding smaller distribution projects to offset the loss of large projects it has proposed, notably Northern Pass.",
    "output": "[Cause] finding smaller distribution projects [Relation] enable [Effect] Eversource has derisked its capital investment budget",
    "gold": "[Cause] finding smaller distribution projects [Relation] prevent [Effect]  the loss of large projects",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We continue to think that the Department of Defense's increasing focus on great powers competition is a long-term tailwind for the contractors.",
    "output": "[Cause] the Department of Defense's increasing focus on great powers competition [Relation] cause [Effect] a long-term tailwind for the contractors",
    "gold": "[Cause]  the Department of Defense's increasing focus on great powers competition [Relation] cause [Effect] a long-term tailwind for the contractors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Regardless, the company's patent portfolio could become more impactful in the years to come thanks to the development of patented chelated minerals through the integration of the Albion International acquisition.",
    "output": "[Cause] the development of patented chelated minerals through the integration of the Albion International acquisition [Relation] cause [Effect] the company's patent portfolio could become more impactful in the years to come",
    "gold": "[Cause]  the development of patented chelated minerals through the integration of the Albion International acquisition [Relation] cause [Effect] the company's patent portfolio could become more impactful in the years to come",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Based on consumer acceptance of the brand, market saturation rates, franchisee access to capital, and commercial real estate availability, we believe Dunkin' has meaningful growth opportunities within the U.S., particularly outside core Northeast markets.",
    "output": "[Cause] consumer acceptance of the brand, market saturation rates, franchisee access to capital, and commercial real estate availability [Relation] cause [Effect] Dunkin' has meaningful growth opportunities within the U.S., particularly outside core Northeast markets",
    "gold": "[Cause] consumer acceptance of the brand, market saturation rates, franchisee access to capital, and commercial real estate availability [Relation] enable [Effect] Dunkin' has meaningful growth opportunities within the U.S., particularly outside core Northeast markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, declining fuel prices artificially can boost the firm's gross profit margin percentage in the short run because lower fuel surcharges will reduce gross revenue with little impact on net revenue.",
    "output": "[Cause] lower fuel surcharges will reduce gross revenue with little impact on net revenue [Relation] cause [Effect] boost the firm's gross profit margin percentage in the short run",
    "gold": "[Cause]  lower fuel surcharges will reduce gross revenue with little impact on net revenue [Relation] enable [Effect]  boost the firm's gross profit margin percentage in the short run",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect strong labor savings and a recovery in travel demand to help drive 2024 total operating margins over 8% from about 4% in 2019.",
    "output": "[Cause] strong labor savings and a recovery in travel demand [Relation] enable [Effect] drive 2024 total operating margins over 8% from about 4% in 2019",
    "gold": "[Cause] strong labor savings and a recovery in travel demand [Relation] enable [Effect] drive 2024 total operating margins over 8% from about 4% in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We then expect revenue growth to average about 5% annually through 2024 on stable wireless customer growth, gradually increasing revenue per wireless customer, and high-single-digit growth in the cable business.",
    "output": "[Cause] stable wireless customer growth, gradually increasing revenue per wireless customer, and high-single-digit growth in the cable business [Relation] enable [Effect] revenue growth to average about 5% annually through 2024",
    "gold": "[Cause] stable wireless customer growth, gradually increasing revenue per wireless customer, and high-single-digit growth in the cable business [Relation] enable [Effect] revenue growth to average about 5% annually through 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Snap-on is well-positioned to help shop owners and dealerships reduce the amount of time it takes to identify and fix an issue.",
    "output": "[Cause] Snap-on is well-positioned [Relation] enable [Effect] shop owners and dealerships reduce the amount of time it takes to identify and fix an issue",
    "gold": "[Cause] help shop owners and dealerships reduce the amount of time it takes to identify and fix an issue [Relation] cause [Effect] Snap-on is well-positioned",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our forecast anticipates the firm will allocate 6% of sales annually (about $1.4 billion) toward research and development and marketing in the aggregate annually the next 10 years, which stands to differentiate Kimberly's fare and sustain its retail relationships.",
    "output": "[Cause] the firm will allocate 6% of sales annually (about $1.4 billion) toward research and development and marketing in the aggregate annually the next 10 years [Relation] enable [Effect] differentiate Kimberly's fare and sustain its retail relationships",
    "gold": "[Cause] the firm will allocate 6% of sales annually (about $1.4 billion) toward research and development and marketing in the aggregate annually the next 10 years [Relation] cause [Effect] differentiate Kimberly's fare and sustain its retail relationships",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2020, the coronavirus affected the industry's and Chubb's results, and Chubb's COVID-19 losses have been roughly in line with peers as a percentage of premiums.",
    "output": "[Cause] a percentage of premiums [Relation] cause [Effect] Chubb's COVID-19 losses have been roughly in line with peers",
    "gold": "[Cause] the coronavirus [Relation] cause [Effect] losses have been roughly in line with peers as a percentage of premiums",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect operating margins to reach 20% by 2027 (up from 2019's 2%), as Beyond leverages SG&A and R&D expenses on a larger sales base, from 2019's 25% and 7% of sales, respectively, to 9% and 3%, respectively in 2029.",
    "output": "[Cause] Beyond leverages SG&A and R&D expenses on a larger sales base, from 2019's 25% and 7% of sales, respectively, to 9% and 3%, respectively in 2029 [Relation] cause [Effect] operating margins to reach 20% by 2027 (up from 2019's 2%)",
    "gold": "[Cause]  Beyond leverages SG&A and R&D expenses on a larger sales base, from 2019's 25% and 7% of sales, respectively, to 9% and 3%, respectively in 2029 [Relation] cause [Effect]  operating margins to reach 20% by 2027 (up from 2019's 2%)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For Halliburton in particular, though, its large expansion of its international operations (particularly deep water) during that period entailed large startup operating expenses and unabsorbed overhead.",
    "output": "[Cause] large startup operating expenses and unabsorbed overhead [Relation] cause [Effect] For Halliburton in particular",
    "gold": "[Cause]  large startup operating expenses and unabsorbed overhead [Relation] enable [Effect] its large expansion of its international operations (particularly deep water) during that period",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For instance, in 2018, the Brazilian real's strong depreciation to the euro caused a negative exchange rate effect of 16%. As a result, despite a stable organic revenue year on year in the Brazilian market, the reported revenue generated in Brazil decreased by 15.8% over 2017.",
    "output": "[Cause] in 2018, the Brazilian real's strong depreciation to the euro caused a negative exchange rate effect of 16% [Relation] cause [Effect] despite a stable organic revenue year on year in the Brazilian market, the reported revenue generated in Brazil decreased by 15.8% over 2017",
    "gold": "[Cause] in 2018, the Brazilian real's strong depreciation to the euro caused a negative exchange rate effect of 16% [Relation] cause [Effect] despite a stable organic revenue year on year in the Brazilian market, the reported revenue generated in Brazil decreased by 15.8% over 2017",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's return on investment capital, or ROIC, has consistently improved since 2011 because of the sale of its underperforming businesses, increased volume supported by strengthening end-market demand and market share gains, and successful cost-reduction initiatives.",
    "output": "[Cause] strengthening end-market demand and market share gains, and successful cost-reduction initiatives [Relation] cause [Effect] The company's return on investment capital, or ROIC, has consistently improved since 2011",
    "gold": "[Cause] strengthening end-market demand and market share gains, and successful cost-reduction initiatives [Relation] cause [Effect] increased volume supported",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Product governance is a potential area of risk for the company as most of its equipment or components are mission-critical with a high cost of failure to its customers.",
    "output": "[Cause] most of its equipment or components are mission-critical with a high cost of failure to its customers [Relation] cause [Effect] Product governance is a potential area of risk for the company",
    "gold": "[Cause] most of its equipment or components are mission-critical with a high cost of failure to its customers [Relation] cause [Effect] Product governance is a potential area of risk for the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Adcetris sales in North America could reach over $1.8 billion thanks to label expansions and potential combinations with checkpoint inhibitors.",
    "output": "[Cause] label expansions and potential combinations with checkpoint inhibitors [Relation] enable [Effect] Adcetris sales in North America could reach over $1.8 billion",
    "gold": "[Cause]  label expansions and potential combinations with checkpoint inhibitors [Relation] cause [Effect] Adcetris sales in North America could reach over $1.8 billion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the sports channels could not be sold to Disney due to its ownership of ESPN, we believe that the Murdoch family wanted to hold to the channels to enhance its own bundle when negotiating with both traditional and Internet-based pay television distributors.",
    "output": "[Cause] its ownership of ESPN [Relation] cause [Effect] the sports channels could not be sold to Disney",
    "gold": "[Cause] its ownership of ESPN [Relation] cause [Effect] the sports channels could not be sold to Disney",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the sports channels could not be sold to Disney due to its ownership of ESPN, we believe that the Murdoch family wanted to hold to the channels to enhance its own bundle when negotiating with both traditional and Internet-based pay television distributors.",
    "output": "[Cause] the Murdoch family wanted to hold to the channels [Relation] enable [Effect] enhance its own bundle when negotiating with both traditional and Internet-based pay television distributors",
    "gold": "[Cause] While the sports channels could not be sold to Disney due to its ownership of ESPN [Relation] cause [Effect] the Murdoch family wanted to hold to the channels to enhance its own bundle when negotiating with both traditional and Internet-based pay television distributors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While Lamb Weston may not have a cost advantage over Simplot in terms of raw potato sourcing, we believe that the firm maintains scale advantages, as Lamb Weston is over twice the size of Simplot.",
    "output": "[Cause] Lamb Weston is over twice the size of Simplot [Relation] cause [Effect] the firm maintains scale advantages",
    "gold": "[Cause] Lamb Weston is over twice the size of Simplot [Relation] cause [Effect] the firm maintains scale advantages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast low-single-digit annual internal revenue growth through 2024, fueled by low-single-digit growth in the consumer health and nutrition segments combined with a return to low-single-digit growth in the prescription drug segment following a decline in 2016-18 revenue from competitive pricing pressure.",
    "output": "[Cause] low-single-digit growth in the consumer health and nutrition segments combined with a return to low-single-digit growth in the prescription drug segment following a decline in 2016-18 revenue from competitive pricing pressure [Relation] cause [Effect] low-single-digit annual internal revenue growth through 2024",
    "gold": "[Cause] low-single-digit growth in the consumer health and nutrition segments combined with a return to low-single-digit growth in the prescription drug segment following a decline in 2016-18 revenue from competitive pricing pressure [Relation] cause [Effect] low-single-digit annual internal revenue growth through 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the virus subsides and the economy recovers, we believe favorable demographics coupled with the realization of pent-up demand will drive a continued housing recovery over the next decade.",
    "output": "[Cause] the virus subsides and the economy recovers [Relation] cause [Effect] favorable demographics coupled with the realization of pent-up demand will drive a continued housing recovery over the next decade",
    "gold": "[Cause]  favorable demographics [Relation] cause [Effect] drive a continued housing recovery over the next decade",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect margins to improve slightly in North America as best practices from Latin America are implemented over the coming years.",
    "output": "[Cause] best practices from Latin America are implemented over the coming years [Relation] cause [Effect] margins to improve slightly in North America",
    "gold": "[Cause] best practices from Latin America are implemented over the coming years [Relation] enable [Effect] margins to improve slightly in North America",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In December 2019, DuPont announced a transaction to merge its entire nutrition and biosciences portfolio with International Flavors and Fragrances in a tax-efficient transaction where DuPont shareholders will receive 55.4% of the combined company.",
    "output": "[Cause] DuPont announced a transaction to merge its entire nutrition and biosciences portfolio with International Flavors and Fragrances in a tax-efficient transaction [Relation] enable [Effect] DuPont shareholders will receive 55.4% of the combined company",
    "gold": "[Cause] DuPont announced a transaction to merge its entire nutrition and biosciences portfolio with International Flavors and Fragrances in a tax-efficient transaction [Relation] enable [Effect] DuPont shareholders will receive 55.4% of the combined company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With Snowflake, such data sharing across different public clouds can happen seamlessly in just a matter of hours or days because the data does not need to be transformed manually.",
    "output": "[Cause] the data does not need to be transformed manually [Relation] cause [Effect] data sharing across different public clouds can happen seamlessly in just a matter of hours or days",
    "gold": "[Cause] the data does not need to be transformed manually [Relation] cause [Effect]  data sharing across different public clouds can happen seamlessly in just a matter of hours or days",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "First, significant customer concentration raises the risk that liquidity issues or changes to ordering patterns could affect the firm's profitability.",
    "output": "[Cause] liquidity issues or changes to ordering patterns [Relation] cause [Effect] affect the firm's profitability",
    "gold": "[Cause] significant customer concentration raises the risk [Relation] cause [Effect] liquidity issues or changes to ordering patterns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "First, significant customer concentration raises the risk that liquidity issues or changes to ordering patterns could affect the firm's profitability.",
    "output": "[Cause] liquidity issues or changes to ordering patterns [Relation] cause [Effect] affect the firm's profitability",
    "gold": "[Cause] liquidity issues or changes to ordering patterns [Relation] cause [Effect] affect the firm's profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cross-border transactions, which are particularly lucrative for the networks, came under heavy pressure due to the fallout from the pandemic and a reduction in global travel.",
    "output": "[Cause] the fallout from the pandemic and a reduction in global travel [Relation] cause [Effect] Cross-border transactions, which are particularly lucrative for the networks, came under heavy pressure",
    "gold": "[Cause] Cross-border transactions [Relation] enable [Effect] lucrative for the networks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Specifically, management's greater focus on premiumizing the portfolio, with commercial efforts well underway in hard seltzer, craft, and nonalcoholic categories like energy drinks and CBD, should drive low-single-digit increases in per hectoliter price realization across the business.",
    "output": "[Cause] management's greater focus on premiumizing the portfolio, with commercial efforts well underway in hard seltzer, craft, and nonalcoholic categories like energy drinks and CBD [Relation] enable [Effect] drive low-single-digit increases in per hectoliter price realization across the business",
    "gold": "[Cause] management's greater focus on premiumizing the portfolio, with commercial efforts well underway in hard seltzer, craft, and nonalcoholic categories like energy drinks and CBD [Relation] enable [Effect] drive low-single-digit increases in per hectoliter price realization across the business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "When a retail partner goes bankrupt or consolidates its store count, downward pressure is placed on ADS' credit card receivables, which are already well below their peak.",
    "output": "[Cause] a retail partner goes bankrupt or consolidates its store count [Relation] cause [Effect] downward pressure is placed on ADS' credit card receivables",
    "gold": "[Cause] a retail partner goes bankrupt or consolidates its store count [Relation] cause [Effect] downward pressure is placed on ADS' credit card receivables",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we believe that it is extremely difficult to develop brand equity with agricultural commodities, as they are essentially undifferentiated from competitive products and therefore difficult to maintain a price premium.",
    "output": "[Cause] they are essentially undifferentiated from competitive products [Relation] cause [Effect] difficult to maintain a price premium",
    "gold": "[Cause] they are essentially undifferentiated from competitive products [Relation] cause [Effect]  it is extremely difficult to develop brand equity with agricultural commodities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we believe that it is extremely difficult to develop brand equity with agricultural commodities, as they are essentially undifferentiated from competitive products and therefore difficult to maintain a price premium.",
    "output": "[Cause] they are essentially undifferentiated from competitive products [Relation] cause [Effect] difficult to maintain a price premium",
    "gold": "[Cause] they are essentially undifferentiated from competitive products [Relation] cause [Effect]  difficult to maintain a price premium",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also model a 1% annual bump in revenue from acquisitions annually, although this will be modestly higher in 2021, due to the Smart Foodservice Warehouse acquisition.",
    "output": "[Cause] the Smart Foodservice Warehouse acquisition [Relation] cause [Effect] a 1% annual bump in revenue from acquisitions annually, although this will be modestly higher in 2021",
    "gold": "[Cause] the Smart Foodservice Warehouse acquisition [Relation] cause [Effect] a 1% annual bump in revenue from acquisitions annually, although this will be modestly higher in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company will see some costs return this year (including marketing, travel and insurance premiums), but we anticipate additional OR improvement to 76.2% as network density rises and on positive yield gains.",
    "output": "[Cause] network density rises and on positive yield gains [Relation] cause [Effect] additional OR improvement to 76.2%",
    "gold": "[Cause] network density rises and on positive yield gains [Relation] cause [Effect] additional OR improvement to 76.2%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast net revenue growing at a compound annual rate of approximately 3% over the next five years. This is the result of normalizing senior managing director revenue productivity to an over-a-cycle average of $16.5 million from an average of near $17.5 million in the 2017-20 period according to our calculations.",
    "output": "[Cause] We forecast net revenue growing at a compound annual rate of approximately 3% over the next five years [Relation] cause [Effect] normalizing senior managing director revenue productivity to an over-a-cycle average of $16.5 million from an average of near $17.5 million in the 2017-20 period according to our calculations",
    "gold": "[Cause] normalizing senior managing director revenue productivity to an over-a-cycle average of $16.5 million from an average of near $17.5 million in the 2017-20 period according to our calculations [Relation] cause [Effect] net revenue growing at a compound annual rate of approximately 3% over the next five years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "CN's EJ&E line around Chicago (acquired in 2009) has boosted its velocity at a major choke point over the years, benefiting network reliability and asset turns.",
    "output": "[Cause] CN's EJ&E line around Chicago (acquired in 2009) has boosted its velocity at a major choke point over the years [Relation] enable [Effect] network reliability and asset turns",
    "gold": "[Cause] CN's EJ&E line around Chicago (acquired in 2009) has boosted its velocity at a major choke point over the years [Relation] enable [Effect] network reliability and asset turns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the firm plans to further invest in research and development and content creation and virtual reality and augmented reality offerings, in addition to data security, we see the 38% average operating margin during the next five years lower than the previous three years' 39%.",
    "output": "[Cause] the firm plans to further invest in research and development and content creation and virtual reality and augmented reality offerings [Relation] cause [Effect] in addition to data security, we see the 38% average operating margin during the next five years lower than the previous three years' 39%",
    "gold": "[Cause]  the firm plans to further invest in research and development and content creation and virtual reality and augmented reality offerings, in addition to data security [Relation] cause [Effect]  the 38% average operating margin during the next five years lower than the previous three years' 39%.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Even though Allscripts has attempted to gain traction in the EMR space, we do not believe its current offerings have the quality or scalability comparable to Epic's or Cerner's products, which remain more attractive to large providers and health systems.",
    "output": "[Cause] Allscripts has attempted to gain traction in the EMR space [Relation] prevent [Effect] its current offerings have the quality or scalability comparable to Epic's or Cerner's products, which remain more attractive to large providers and health systems",
    "gold": "[Cause]  remain more attractive to large providers and health systems [Relation] prevent [Effect]  its current offerings have the quality or scalability comparable to Epic's or Cerner's products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With Guangshen a potential beneficiary of a tariff hike, operation efficiency improvement, and asset injections, we expect its profitability to continue chugging ahead, which bodes favourably for its long-run competitive positioning.",
    "output": "[Cause] With Guangshen a potential beneficiary of a tariff hike, operation efficiency improvement, and asset injections [Relation] cause [Effect] we expect its profitability to continue chugging ahead, which bodes favourably for its long-run competitive positioning",
    "gold": "[Cause] With Guangshen a potential beneficiary of a tariff hike, operation efficiency improvement, and asset injections [Relation] cause [Effect] we expect its profitability to continue chugging ahead, which bodes favourably for its long-run competitive positioning",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect that Airbus will continue ramping up production of the A320 family of aircraft after the pandemic, to serve the demand proved by the substantial backlog for the aircraft.",
    "output": "[Cause] the substantial backlog for the aircraft [Relation] enable [Effect] Airbus will continue ramping up production of the A320 family of aircraft after the pandemic",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] Airbus will continue ramping up production of the A320 family of aircraft",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think the increase in hotel rooms owned by casino operators will accommodate increased and extended visits from bigger spenders from provinces outside of Guangdong, where penetration is just 1%.",
    "output": "[Cause] the increase in hotel rooms owned by casino operators [Relation] enable [Effect] accommodate increased and extended visits from bigger spenders from provinces outside of Guangdong",
    "gold": "[Cause]  the increase in hotel rooms owned by casino operators [Relation] enable [Effect]  accommodate increased and extended visits from bigger spenders from provinces outside of Guangdong",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We continue to see challenges with elements of the business, including the impact of potentially depressed long-term North American farm income, which could affect agricultural equipment sales.",
    "output": "[Cause] challenges with elements of the business, including the impact of potentially depressed long-term North American farm income [Relation] cause [Effect] affect agricultural equipment sales",
    "gold": "[Cause] challenges with elements of the business, including the impact of potentially depressed long-term North American farm income [Relation] cause [Effect]  affect agricultural equipment sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Rolls-Royce risks suffering reputation damage which could lead to order cancellations and jeopardize partnerships on future programs if not effectively handled and communicated to customers.",
    "output": "[Cause] not effectively handled and communicated to customers [Relation] cause [Effect] Rolls-Royce risks suffering reputation damage which could lead to order cancellations and jeopardize partnerships on future programs",
    "gold": "[Cause] not effectively handled and communicated to customers [Relation] cause [Effect] Rolls-Royce risks suffering reputation damage which could lead to order cancellations and jeopardize partnerships on future programs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Many small-business owners are choosing to exit or sell because they cannot get the scale on a variety of expenses compared with large dealer groups.",
    "output": "[Cause] they cannot get the scale on a variety of expenses compared with large dealer groups [Relation] cause [Effect] Many small-business owners are choosing to exit or sell",
    "gold": "[Cause] they cannot get the scale on a variety of expenses compared with large dealer groups [Relation] cause [Effect] Many small-business owners are choosing to exit or sell",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While demand for outdoor recreational products has been elevated with social distancing measures as a result of the pandemic, we expect sustained sales growth stemming from market share gains and expansion into whitespace categories.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] demand for outdoor recreational products has been elevated with social distancing measures",
    "gold": "[Cause] market share gains and expansion into whitespace categories [Relation] cause [Effect] sustained sales growth stemming",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While demand for outdoor recreational products has been elevated with social distancing measures as a result of the pandemic, we expect sustained sales growth stemming from market share gains and expansion into whitespace categories.",
    "output": "[Cause] market share gains and expansion into whitespace categories [Relation] cause [Effect] sustained sales growth",
    "gold": "[Cause]  the pandemic [Relation] cause [Effect] demand for outdoor recreational products has been elevated with social distancing measures",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As such, our base-case scenario assumes the $300 million savings goal is achieved by 2023, which caused our fair value estimate to increase about 4% to $50 per share.",
    "output": "[Cause] our base-case scenario assumes the $300 million savings goal is achieved by 2023 [Relation] cause [Effect] our fair value estimate to increase about 4% to $50 per share",
    "gold": "[Cause] our base-case scenario assumes the $300 million savings goal is achieved by 2023 [Relation] cause [Effect] our fair value estimate to increase about 4% to $50 per share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And we surmise Church &amp; Dwight's more muted share position has contributed to its inability to secure enduring retail relationships.",
    "output": "[Cause] Church &amp; Dwight's more muted share position [Relation] cause [Effect] its inability to secure enduring retail relationships",
    "gold": "[Cause]  Church &amp; Dwight's more muted share position [Relation] cause [Effect]  its inability to secure enduring retail relationships",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Changing an engineering team to a Catia team from a Creo team would involve significant retraining and pose significant risks.",
    "output": "[Cause] Changing an engineering team to a Catia team from a Creo team [Relation] cause [Effect] involve significant retraining and pose significant risks",
    "gold": "[Cause] Changing an engineering team to a Catia team from a Creo team [Relation] cause [Effect] involve significant retraining and pose significant risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Discover's biggest risk is advances in technology that enables merchants to bypass legacy payment systems like Visa, Mastercard, and Discover.",
    "output": "[Cause] advances in technology [Relation] enable [Effect] merchants to bypass legacy payment systems like Visa, Mastercard, and Discover",
    "gold": "[Cause] advances in technology [Relation] enable [Effect] merchants to bypass legacy payment systems like Visa, Mastercard, and Discover",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Discover's biggest risk is advances in technology that enables merchants to bypass legacy payment systems like Visa, Mastercard, and Discover.",
    "output": "[Cause] advances in technology [Relation] enable [Effect] merchants to bypass legacy payment systems like Visa, Mastercard, and Discover",
    "gold": "[Cause] advances in technology that enables merchants to bypass legacy payment systems like Visa, Mastercard, and Discover [Relation] cause [Effect] Discover's biggest risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, its intangible assets will help gain new customers for the company as the overall factory automation market continues to increase.",
    "output": "[Cause] the overall factory automation market continues to increase [Relation] cause [Effect] its intangible assets will help gain new customers for the company",
    "gold": "[Cause] the overall factory automation market continues to increase [Relation] cause [Effect] its intangible assets will help gain new customers for the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, its intangible assets will help gain new customers for the company as the overall factory automation market continues to increase.",
    "output": "[Cause] its intangible assets [Relation] enable [Effect] gain new customers for the company",
    "gold": "[Cause]  its intangible assets [Relation] enable [Effect] gain new customers for the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Revenue declined nearly 50% from 2008 to 2009 with the decline in global economic activity stemming from the global financial crisis.",
    "output": "[Cause] the decline in global economic activity stemming from the global financial crisis [Relation] cause [Effect] Revenue declined nearly 50% from 2008 to 2009",
    "gold": "[Cause] the decline in global economic activity stemming from the global financial crisis [Relation] cause [Effect] Revenue declined nearly 50% from 2008 to 2009",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cross-border transactions, which are particularly lucrative for the networks, have seen dramatic declines due to the coronavirus outbreak and a reduction in global travel.",
    "output": "[Cause] the coronavirus outbreak and a reduction in global travel [Relation] cause [Effect] Cross-border transactions, which are particularly lucrative for the networks, have seen dramatic declines",
    "gold": "[Cause] the coronavirus outbreak and a reduction in global travel [Relation] cause [Effect] Cross-border transactions, which are particularly lucrative for the networks, have seen dramatic declines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ICE holds limited environmental, social, and governance risks, and we do not see them as material enough to alter our uncertainty rating.",
    "output": "[Cause] material enough [Relation] prevent [Effect] alter our uncertainty rating",
    "gold": "[Cause] material enough to alter our uncertainty rating [Relation] cause [Effect] ICE holds limited environmental, social, and governance risks, and we do not see them",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, credit card programs from shuttered retailers have typically seen higher charge-offs and falling levels of receivables, creating headwinds for Synchrony's business.",
    "output": "[Cause] credit card programs from shuttered retailers have typically seen higher charge-offs and falling levels of receivables [Relation] cause [Effect] creating headwinds for Synchrony's business",
    "gold": "[Cause] credit card programs from shuttered retailers have typically seen higher charge-offs and falling levels of receivables [Relation] prevent [Effect] creating headwinds for Synchrony's business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Operating margin declines have been exacerbated by the decline in European reimbursement. These factors have weighed on ROICs, and these trends are likely to persist in the long term, in our view.",
    "output": "[Cause] Operating margin declines have been exacerbated by the decline in European reimbursement [Relation] cause [Effect] weighed on ROICs, and these trends are likely to persist in the long term, in our view",
    "gold": "[Cause] Operating margin declines have been exacerbated by the decline in European reimbursement [Relation] cause [Effect]  weighed on ROICs, and these trends are likely to persist in the long term, in our view",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Looking globally, we expect infrastructure spending in emerging markets to be relatively strong, as there is ample demand to build new roads and infrastructure to increase urbanization.",
    "output": "[Cause] there is ample demand to build new roads and infrastructure to increase urbanization [Relation] cause [Effect] infrastructure spending in emerging markets to be relatively strong",
    "gold": "[Cause] there is ample demand to build new roads and infrastructure to increase urbanization [Relation] enable [Effect] infrastructure spending in emerging markets to be relatively strong",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, the agricultural solutions segment should grow above company average due to a steady stream of innovative products set to launch in the coming years.",
    "output": "[Cause] a steady stream of innovative products set to launch in the coming years [Relation] cause [Effect] the agricultural solutions segment should grow above company average",
    "gold": "[Cause]  a steady stream of innovative products set to launch in the coming years [Relation] cause [Effect] the agricultural solutions segment should grow above company average",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect noninterest expenses to decline in 2021 and 2022 as extra COVID-related expenses roll off, before resuming a roughly 2% annual growth rate thereafter.",
    "output": "[Cause] extra COVID-related expenses roll off [Relation] cause [Effect] noninterest expenses to decline in 2021 and 2022",
    "gold": "[Cause] extra COVID-related expenses roll off [Relation] cause [Effect]  noninterest expenses to decline in 2021 and 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These markets are unattractive to larger public dealers, as their management teams have no interest in small cities and they have import and luxury brand mixes more favorable to suburban markets.",
    "output": "[Cause] their management teams have no interest in small cities and they have import and luxury brand mixes more favorable to suburban markets [Relation] cause [Effect] These markets are unattractive to larger public dealers",
    "gold": "[Cause] their management teams have no interest in small cities and they have import and luxury brand mixes more favorable to suburban markets [Relation] cause [Effect] These markets are unattractive to larger public dealers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Valvoline grows internationally, it will derive a greater portion of sales from unestablished markets while taking on currency and regulatory risks (many of its competitors are state-owned enterprises).",
    "output": "[Cause] taking on currency and regulatory risks [Relation] cause [Effect] it will derive a greater portion of sales from unestablished markets",
    "gold": "[Cause] As Valvoline grows internationally [Relation] enable [Effect] while taking on currency and regulatory risks (many of its competitors are state-owned enterprises)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The increased adoption of Nice's mission-critical services in customer engagement as well as financial crimes and compliance as businesses demand more agile solutions should support healthy long-term growth for the firm.",
    "output": "[Cause] businesses demand more agile solutions [Relation] cause [Effect] The increased adoption of Nice's mission-critical services in customer engagement as well as financial crimes and compliance",
    "gold": "[Cause] businesses demand more agile solutions [Relation] cause [Effect] The increased adoption of Nice's mission-critical services in customer engagement as well as financial crimes and compliance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The increased adoption of Nice's mission-critical services in customer engagement as well as financial crimes and compliance as businesses demand more agile solutions should support healthy long-term growth for the firm.",
    "output": "[Cause] The increased adoption of Nice's mission-critical services in customer engagement as well as financial crimes and compliance [Relation] enable [Effect] support healthy long-term growth for the firm",
    "gold": "[Cause] The increased adoption of Nice's mission-critical services in customer engagement as well as financial crimes and compliance [Relation] enable [Effect] support healthy long-term growth for the firm",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While it makes sense for the company to have more service personnel, given a dominant share in balances and the firm's market leadership in 75% of business lines, Mettler clearly puts a high focus on customer service and relationship-building.",
    "output": "[Cause] a dominant share in balances and the firm's market leadership in 75% of business lines [Relation] cause [Effect] Mettler clearly puts a high focus on customer service and relationship-building",
    "gold": "[Cause]  a dominant share in balances and the firm's market leadership in 75% of business lines [Relation] enable [Effect] Mettler clearly puts a high focus on customer service and relationship-building",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If cannabis is legalized on a federal level, as a greater proportion of cannabis could be grown outdoors or Hawthorne may also face increased competition from traditional agricultural input producers and retailers that may begin serving larger cannabis growers.",
    "output": "[Cause] a greater proportion of cannabis could be grown outdoors [Relation] cause [Effect] cannabis is legalized on a federal level",
    "gold": "[Cause] a greater proportion of cannabis could be grown outdoors [Relation] cause [Effect] begin serving larger cannabis growers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If cannabis is legalized on a federal level, as a greater proportion of cannabis could be grown outdoors or Hawthorne may also face increased competition from traditional agricultural input producers and retailers that may begin serving larger cannabis growers.",
    "output": "[Cause] Hawthorne may also face increased competition from traditional agricultural input producers and retailers [Relation] cause [Effect] begin serving larger cannabis growers",
    "gold": "[Cause] Hawthorne may also face increased competition from traditional agricultural input producers and retailers [Relation] cause [Effect] begin serving larger cannabis growers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But this should not impact Booking's uncertainty rating unless travel demand once again returns to near zero for an extended period of time, leading to potential needs for incremental liquidity, which perhaps could occur at value destructive levels.",
    "output": "[Cause] travel demand once again returns to near zero for an extended period of time [Relation] cause [Effect] potential needs for incremental liquidity",
    "gold": "[Cause] travel demand once again returns to near zero for an extended period of time [Relation] cause [Effect] potential needs for incremental liquidity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The complexity, high cost, and mission-critical nature of clinical trials enforce high switching costs among PPD's biopharma clients, which usually result in trusted preferred partnership agreements that span several years if not decades.",
    "output": "[Cause] enforce high switching costs among PPD's biopharma clients [Relation] cause [Effect] trusted preferred partnership agreements that span several years if not decades",
    "gold": "[Cause] high cost [Relation] enable [Effect] enforce high switching costs among PPD's biopharma clients",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The complexity, high cost, and mission-critical nature of clinical trials enforce high switching costs among PPD's biopharma clients, which usually result in trusted preferred partnership agreements that span several years if not decades.",
    "output": "[Cause] enforce high switching costs among PPD's biopharma clients [Relation] cause [Effect] trusted preferred partnership agreements that span several years if not decades",
    "gold": "[Cause] mission-critical nature of clinical trials [Relation] enable [Effect] enforce high switching costs among PPD's biopharma clients",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The complexity, high cost, and mission-critical nature of clinical trials enforce high switching costs among PPD's biopharma clients, which usually result in trusted preferred partnership agreements that span several years if not decades.",
    "output": "[Cause] enforce high switching costs among PPD's biopharma clients [Relation] cause [Effect] trusted preferred partnership agreements that span several years if not decades",
    "gold": "[Cause] enforce high switching costs among PPD's biopharma clients [Relation] cause [Effect]  trusted preferred partnership agreements that span several years if not decades",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Based initially on its technology, Google has successfully increased its users' dependence on its products to keep transforming the usage of those products into something habitual.",
    "output": "[Cause] its technology [Relation] cause [Effect] increased its users' dependence on its products",
    "gold": "[Cause] its technology [Relation] cause [Effect] increased its users' dependence on its products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Limited driver availability is placing upward pressure on driver wages and recruiting costs. This dynamic also boosts driver turnover at times and when that occurs, unseated tractors will weigh on tractor utilization (miles per tractor), especially during periods of fleet growth.",
    "output": "[Cause] Limited driver availability is placing upward pressure on driver wages and recruiting costs [Relation] cause [Effect] boosts driver turnover at times and when that occurs, unseated tractors will weigh on tractor utilization (miles per tractor), especially during periods of fleet growth",
    "gold": "[Cause] Limited driver availability is placing upward pressure on driver wages and recruiting costs [Relation] enable [Effect] boosts driver turnover at times and when that occurs, unseated tractors will weigh on tractor utilization (miles per tractor), especially during periods of fleet growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the decision to exit the merchant nuclear business, the major risk of the unregulated segment is the decommissioning of these facilities.",
    "output": "[Cause] the decision to exit the merchant nuclear business [Relation] cause [Effect] the major risk of the unregulated segment is the decommissioning of these facilities",
    "gold": "[Cause] the decision to exit the merchant nuclear business [Relation] cause [Effect]  the major risk of the unregulated segment is the decommissioning of these facilities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Key to Verisign's intangible assets is the presumptive right of renewal. This implies that as long as Verisign complies with the terms of the contract, it will not go up for bid, and Verisign can simply automatically renew for the next six-year period.",
    "output": "[Cause] Key to Verisign's intangible assets is the presumptive right of renewal [Relation] cause [Effect] as long as Verisign complies with the terms of the contract, it will not go up for bid, and Verisign can simply automatically renew for the next six-year period",
    "gold": "[Cause] Key to Verisign's intangible assets is the presumptive right of renewal [Relation] cause [Effect] as long as Verisign complies with the terms of the contract, it will not go up for bid, and Verisign can simply automatically renew for the next six-year period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Investment in automation and IT infrastructure have escalated, and in the past decade, McKesson has invested over $20 billion between capital expenditures ($4.9 billion) and acquisitions ($16.0 billion) in order to strengthen its position in a mature industry.",
    "output": "[Cause] Investment in automation and IT infrastructure have escalated [Relation] cause [Effect] in the past decade, McKesson has invested over $20 billion between capital expenditures ($4.9 billion) and acquisitions ($16.0 billion)",
    "gold": "[Cause] Investment in automation and IT infrastructure have escalated [Relation] cause [Effect]  in the past decade, McKesson has invested over $20 billion between capital expenditures ($4.9 billion) and acquisitions ($16.0 billion)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Investment in automation and IT infrastructure have escalated, and in the past decade, McKesson has invested over $20 billion between capital expenditures ($4.9 billion) and acquisitions ($16.0 billion) in order to strengthen its position in a mature industry.",
    "output": "[Cause] invest over $20 billion between capital expenditures ($4.9 billion) and acquisitions ($16.0 billion) [Relation] enable [Effect] strengthen its position in a mature industry",
    "gold": "[Cause] Investment in automation and IT infrastructure have escalated [Relation] enable [Effect] strengthen its position in a mature industry",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect TC Energy to meet its targeted 8%-10% annual dividend growth in 2021 and 5%-7% thereafter, driven by a healthy pipeline of growth opportunities.",
    "output": "[Cause] a healthy pipeline of growth opportunities [Relation] enable [Effect] TC Energy to meet its targeted 8%-10% annual dividend growth in 2021 and 5%-7% thereafter",
    "gold": "[Cause] a healthy pipeline of growth opportunities [Relation] cause [Effect] TC Energy to meet its targeted 8%-10% annual dividend growth in 2021 and 5%-7% thereafter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The nature of contact center communication has evolved, with voice calling associated with long wait periods no longer the only means to get support.",
    "output": "[Cause] voice calling associated with long wait periods [Relation] cause [Effect] no longer the only means to get support",
    "gold": "[Cause] voice calling associated with long wait periods no longer the only means to get support [Relation] cause [Effect] The nature of contact center communication has evolved",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With Autodesk software considered the industry standard for many of its solutions, universities are convinced to continue teaching the software in its programs, which drives AEC, manufacturing, and M&amp;E firms to continue using it, causing universities to continue teaching it.",
    "output": "[Cause] Autodesk software considered the industry standard for many of its solutions [Relation] cause [Effect] universities are convinced to continue teaching the software in its programs",
    "gold": "[Cause]  Autodesk software considered the industry standard for many of its solutions [Relation] cause [Effect]  universities are convinced to continue teaching the software in its programs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With Autodesk software considered the industry standard for many of its solutions, universities are convinced to continue teaching the software in its programs, which drives AEC, manufacturing, and M&amp;E firms to continue using it, causing universities to continue teaching it.",
    "output": "[Cause] universities are convinced to continue teaching the software in its programs [Relation] cause [Effect] AEC, manufacturing, and M&amp;E firms to continue using it, causing universities to continue teaching it",
    "gold": "[Cause]  universities are convinced to continue teaching the software in its programs [Relation] cause [Effect] AEC, manufacturing, and M&amp;E firms to continue using it, causing universities to continue teaching it",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In terms of costs, we are concerned about wage growth stemming from the strong labor market as well as the increased minimum wage plans for the West Coast, which remains an important region.",
    "output": "[Cause] the strong labor market as well as the increased minimum wage plans for the West Coast [Relation] cause [Effect] wage growth stemming",
    "gold": "[Cause] we are concerned about wage growth stemming from the strong labor market as well as the increased minimum wage plans for the West Coast [Relation] cause [Effect] remains an important region",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Following the firm's release of solid third-quarter 2020 financial results from SS&C, we have adjusted our valuation model to assume more operating leverage and have raised our fair value estimate for the firm to $63 per share from $62.",
    "output": "[Cause] the firm's release of solid third-quarter 2020 financial results from SS&C [Relation] cause [Effect] we have adjusted our valuation model to assume more operating leverage and have raised our fair value estimate for the firm to $63 per share from $62",
    "gold": "[Cause]  the firm's release of solid third-quarter 2020 financial results from SS&C [Relation] cause [Effect]  we have adjusted our valuation model to assume more operating leverage and have raised our fair value estimate for the firm to $63 per share from $62",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Traditionally, high-cost natural gas accounted for over 90% of the company's production. As a result of the transformation, we expect that number to fall to about 45% by the end of 2020 as the company takes advantage of the high-quality drilling locations in the core acreage.",
    "output": "[Cause] the transformation [Relation] cause [Effect] we expect that number to fall to about 45% by the end of 2020 as the company takes advantage of the high-quality drilling locations in the core acreage",
    "gold": "[Cause]  the transformation, we expect that number to fall to about 45% by the end of 2020 as the company takes advantage of the high-quality drilling locations in the core acreage [Relation] cause [Effect] high-cost natural gas accounted for over 90% of the company's production",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, Mastercard is something of a tollbooth business, and the company is relatively agnostic to the smaller shifts within electronic payments, as it earns fees regardless of whether payment is credit, debit, or mobile.",
    "output": "[Cause] it earns fees regardless of whether payment is credit, debit, or mobile [Relation] cause [Effect] the company is relatively agnostic to the smaller shifts within electronic payments",
    "gold": "[Cause]  it earns fees regardless of whether payment is credit, debit, or mobile [Relation] cause [Effect] Mastercard is something of a tollbooth business, and the company is relatively agnostic to the smaller shifts",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, if pharmaceutical development projects fail or end-market dynamics change, such as what we saw in the Chinese generic pharmaceutical market in early 2019, system purchases may fall even in the steady pharmaceutical end market.",
    "output": "[Cause] pharmaceutical development projects fail or end-market dynamics change [Relation] cause [Effect] system purchases may fall even in the steady pharmaceutical end market",
    "gold": "[Cause] pharmaceutical development projects fail or end-market dynamics change [Relation] cause [Effect]  system purchases may fall even in the steady pharmaceutical end market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since some workloads will not shift to public clouds because of latency, safety, or regulatory concerns, colocation partnerships provide firms with secure NetApp storage and the ability to use hyperscale providers' compute resources within a single site.",
    "output": "[Cause] some workloads will not shift to public clouds because of latency, safety, or regulatory concerns [Relation] cause [Effect] colocation partnerships provide firms with secure NetApp storage and the ability to use hyperscale providers' compute resources within a single site",
    "gold": "[Cause] some workloads will not shift to public clouds because of latency, safety, or regulatory concerns [Relation] cause [Effect] colocation partnerships provide firms with secure NetApp storage and the ability to use hyperscale providers' compute resources within a single site",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For artists, sales of albums and singles, either physical or digital, have collapsed over the last decade as younger consumers have turned toward streaming platforms like YouTube and Spotify to consume music. As a result, touring for major artists has shifted from a method to sell more albums to a major source of revenue.",
    "output": "[Cause] sales of albums and singles, either physical or digital, have collapsed over the last decade as younger consumers have turned toward streaming platforms like YouTube and Spotify to consume music [Relation] cause [Effect] touring for major artists has shifted from a method to sell more albums to a major source of revenue",
    "gold": "[Cause] sales of albums and singles, either physical or digital, have collapsed over the last decade as younger consumers have turned toward streaming platforms like YouTube and Spotify to consume music [Relation] cause [Effect]  touring for major artists has shifted from a method to sell more albums to a major source of revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ESPN garners the highest affiliate fees of any basic cable channel, and a decrease in pay-TV penetration would slow revenue growth.",
    "output": "[Cause] a decrease in pay-TV penetration [Relation] prevent [Effect] revenue growth",
    "gold": "[Cause] a decrease in pay-TV penetration [Relation] prevent [Effect] revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Efficient scale would require that the company's shopping centers dominate their submarkets by effectively and efficiently serving the market's needs.",
    "output": "[Cause] effectively and efficiently serving the market's needs [Relation] enable [Effect] Efficient scale would require that the company's shopping centers dominate their submarkets",
    "gold": "[Cause] Efficient scale [Relation] cause [Effect] the company's shopping centers dominate their submarkets by effectively and efficiently serving the market's needs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Home Depot should continue to capture top-line growth, bolstered by aging housing stock and rising home prices, but should also garner support from the work-at-home movement as a result of COVID-19.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] garner support from the work-at-home movement",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] garner support from the work-at-home movement",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Home Depot should continue to capture top-line growth, bolstered by aging housing stock and rising home prices, but should also garner support from the work-at-home movement as a result of COVID-19.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] garner support from the work-at-home movement",
    "gold": "[Cause] by aging housing stock and rising home prices [Relation] cause [Effect] Home Depot should continue to capture top-line growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Google's ecosystem strengthens as its products are adopted by more users, making its online advertising services more attractive to advertisers and publishers and resulting in increased online ad revenue.",
    "output": "[Cause] Google's ecosystem strengthens [Relation] enable [Effect] its online advertising services more attractive to advertisers and publishers",
    "gold": "[Cause] Google's ecosystem strengthens [Relation] cause [Effect] its products are adopted by more users",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast 8% per year volume growth for recreational and food-products based on expanded distribution, consumers converting from the black market, and non-consumers becoming consumers.",
    "output": "[Cause] expanded distribution, consumers converting from the black market, and non-consumers becoming consumers [Relation] cause [Effect] 8% per year volume growth for recreational and food-products",
    "gold": "[Cause] expanded distribution, consumers converting from the black market, and non-consumers becoming consumers [Relation] cause [Effect]  8% per year volume growth for recreational and food-products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Energy savings are achieved in the Verbund process by using byproducts from one plant as feedstock for another plant.",
    "output": "[Cause] using byproducts from one plant as feedstock for another plant [Relation] enable [Effect] Energy savings are achieved in the Verbund process",
    "gold": "[Cause] using byproducts from one plant as feedstock for another plant [Relation] cause [Effect] Energy savings are achieved in the Verbund process",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the firm to average 15% outgrowth over the underlying analog chip market during this period as it takes market share and wins new sockets.",
    "output": "[Cause] it takes market share and wins new sockets [Relation] cause [Effect] the firm to average 15% outgrowth over the underlying analog chip market during this period",
    "gold": "[Cause]  it takes market share and wins new sockets [Relation] cause [Effect] the firm to average 15% outgrowth over the underlying analog chip market during this period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We model that gross margins will stay in the high-30% to low 40% range as Nokia balances higher margin software with higher costing equipment.",
    "output": "[Cause] Nokia balances higher margin software with higher costing equipment [Relation] cause [Effect] gross margins will stay in the high-30% to low 40% range",
    "gold": "[Cause] Nokia balances higher margin software with higher costing equipment [Relation] enable [Effect]  gross margins will stay in the high-30% to low 40% range",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In considering the firm's exposure to ESG risk, we perceive potential product recalls (which if not managed effectively could impair the perception of its brand) as the most pertinent.",
    "output": "[Cause] the firm's exposure to ESG risk [Relation] cause [Effect] potential product recalls (which if not managed effectively could impair the perception of its brand) as the most pertinent",
    "gold": "[Cause]  the firm's exposure to ESG risk [Relation] cause [Effect] potential product recalls (which if not managed effectively could impair the perception of its brand) as the most pertinent",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect that Studio Canal will suffer the most of the Canal+ properties from COVID-19 as theatrical revenue will collapse in 2020 and take until 2022 to return to 2019 levels.",
    "output": "[Cause] theatrical revenue will collapse in 2020 and take until 2022 to return to 2019 levels [Relation] cause [Effect] Studio Canal will suffer the most of the Canal+ properties from COVID-19",
    "gold": "[Cause] theatrical revenue will collapse in 2020 and take until 2022 to return to 2019 levels [Relation] cause [Effect] Studio Canal will suffer the most of the Canal+ properties from COVID-19",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A more immediate risk involves lawsuits related to corruption or large oil spills both could result in either material losses through lost revenue, fines or penalties, or loss of license to operate.",
    "output": "[Cause] A more immediate risk involves lawsuits related to corruption or large oil spills [Relation] cause [Effect] either material losses through lost revenue, fines or penalties, or loss of license to operate",
    "gold": "[Cause] A more immediate risk involves lawsuits related to corruption or large oil spills [Relation] cause [Effect] either material losses through lost revenue, fines or penalties, or loss of license to operate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Scale should lift profitability as Wiley signs additional programs and university partners for the online program management offering, bolstered by Learning House's strength at smaller institutions and in the undergraduate segment.",
    "output": "[Cause] Wiley signs additional programs and university partners for the online program management offering, bolstered by Learning House's strength at smaller institutions and in the undergraduate segment [Relation] enable [Effect] Scale should lift profitability",
    "gold": "[Cause] Wiley signs additional programs and university partners for the online program management offering, bolstered by Learning House's strength at smaller institutions and in the undergraduate segment [Relation] cause [Effect] Scale should lift profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, we anticipate overall annual top-line growth of roughly 3%-4%, largely benefiting from the growth in specialty pipeline (3%-4%), increased number of therapies and aging population (1%), and branded drug inflation (2%).",
    "output": "[Cause] the growth in specialty pipeline (3%-4%), increased number of therapies and aging population (1%), and branded drug inflation (2%) [Relation] cause [Effect] overall annual top-line growth of roughly 3%-4%",
    "gold": "[Cause]  the growth in specialty pipeline (3%-4%), increased number of therapies and aging population (1%), and branded drug inflation (2%) [Relation] enable [Effect] overall annual top-line growth of roughly 3%-4%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the positive side, the firm's FTTH effort has started slowly, allowing the firm time to adjust its plans if needed.",
    "output": "[Cause] the firm's FTTH effort has started slowly [Relation] enable [Effect] the firm time to adjust its plans if needed",
    "gold": "[Cause] the firm's FTTH effort has started slowly [Relation] enable [Effect] the firm time to adjust its plans if needed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "When adjusted for expenses not directly linked to the production and distribution process, Reckitt's profitability and costs per employee appear to be around average for the HPC space.",
    "output": "[Cause] adjusted for expenses not directly linked to the production and distribution process [Relation] cause [Effect] Reckitt's profitability and costs per employee appear to be around average for the HPC space",
    "gold": "[Cause] adjusted for expenses not directly linked to the production and distribution process [Relation] cause [Effect]  Reckitt's profitability and costs per employee appear to be around average for the HPC space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "INC Research's 2017 merger with inVentiv Health launched Syneos Health, the new entity, into the upper echelon of large, global, late-stage contract research organizations, but at the price of a significant debt load.",
    "output": "[Cause] INC Research's 2017 merger with inVentiv Health [Relation] enable [Effect] launched Syneos Health, the new entity, into the upper echelon of large, global, late-stage contract research organizations",
    "gold": "[Cause]  the new entity [Relation] enable [Effect] at the price of a significant debt load",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Preferably, the deposit base consists mostly of retail rather than wholesale deposits, as the former tend to be stickier and lower cost than the latter.",
    "output": "[Cause] the former tend to be stickier and lower cost than the latter [Relation] cause [Effect] the deposit base consists mostly of retail rather than wholesale deposits",
    "gold": "[Cause]  the former tend to be stickier and lower cost than the latter [Relation] cause [Effect] the deposit base consists mostly of retail rather than wholesale deposits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of technical hurdles, node advancement has been growing more costly, prompting some smaller players to give up catching up with the industry leaders and other firms to divest.",
    "output": "[Cause] technical hurdles [Relation] cause [Effect] node advancement has been growing more costly",
    "gold": "[Cause] technical hurdles [Relation] enable [Effect] node advancement has been growing more costly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of technical hurdles, node advancement has been growing more costly, prompting some smaller players to give up catching up with the industry leaders and other firms to divest.",
    "output": "[Cause] node advancement has been growing more costly [Relation] cause [Effect] some smaller players to give up catching up with the industry leaders and other firms to divest",
    "gold": "[Cause] node advancement has been growing more costly [Relation] cause [Effect] some smaller players to give up catching up with the industry leaders and other firms to divest",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Market share gains were driven by regained shelf space that was lost during its 2012-13 hiatus, expansion into new channels (enabled by its differentiated direct-to-warehouse delivery system) and expanded its breakfast and value brand offerings.",
    "output": "[Cause] regained shelf space that was lost during its 2012-13 hiatus, expansion into new channels (enabled by its differentiated direct-to-warehouse delivery system) and expanded its breakfast and value brand offerings [Relation] cause [Effect] Market share gains",
    "gold": "[Cause] regained shelf space that was lost during its 2012-13 hiatus, expansion into new channels (enabled by its differentiated direct-to-warehouse delivery system) and expanded its breakfast and value brand offerings [Relation] cause [Effect] Market share gains",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the private-label front, we believe Kroger's strong suite of offerings adds to its intangible assets, bolstering its brand in consumers' eyes.",
    "output": "[Cause] Kroger's strong suite of offerings adds to its intangible assets [Relation] enable [Effect] bolstering its brand in consumers' eyes",
    "gold": "[Cause] Kroger's strong suite of offerings adds to its intangible assets [Relation] cause [Effect] bolstering its brand in consumers' eyes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the merchant generation business has not done well, Entergy's regulated utilities are experiencing strong industrial sales growth driven in large part by an industrial boom in the Mississippi Delta region.",
    "output": "[Cause] an industrial boom in the Mississippi Delta region [Relation] cause [Effect] Entergy's regulated utilities are experiencing strong industrial sales growth",
    "gold": "[Cause] an industrial boom in the Mississippi Delta region [Relation] enable [Effect] Entergy's regulated utilities are experiencing strong industrial sales growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Short-term tactical shifts from ocean to air during 2017, as well as during the 2014 peak season because of West Coast port disruption, are examples of the mode's importance.",
    "output": "[Cause] West Coast port disruption [Relation] cause [Effect] Short-term tactical shifts from ocean to air during 2017, as well as during the 2014 peak season",
    "gold": "[Cause]  West Coast port disruption [Relation] cause [Effect] Short-term tactical shifts from ocean to air during 2017, as well as during the 2014 peak season",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Exposure to PFAS chemicals can cause adverse health effects, and we think drinking water levels will eventually become regulated by the U.S.",
    "output": "[Cause] Exposure to PFAS chemicals [Relation] cause [Effect] adverse health effects",
    "gold": "[Cause] Exposure to PFAS chemicals [Relation] cause [Effect] adverse health effects",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The increasing importance of Internet access provides the phone and cable companies with economies of scope that a satellite network can't match.",
    "output": "[Cause] The increasing importance of Internet access [Relation] enable [Effect] provides the phone and cable companies with economies of scope that a satellite network can't match",
    "gold": "[Cause] The increasing importance of Internet access [Relation] enable [Effect] provides the phone and cable companies with economies of scope that a satellite network can't match",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate a surge in domestic consumer travel once the vaccine rollout enters its final stages but that this will not be enough to compensate for a weak first half of the year and a slower return to normalcy for international travel.",
    "output": "[Cause] the vaccine rollout enters its final stages [Relation] cause [Effect] a surge in domestic consumer travel",
    "gold": "[Cause] the vaccine rollout enters its final stages [Relation] cause [Effect] a surge in domestic consumer travel",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We continue to think ongoing pandemic disruptions and a focus on bringing down leverage following the 2019 acquisition of Hu-Friedy will slow expansion of Cantel's potentially disruptive Revox sterilization business, as we think this business will still require significant capital to get off the ground.",
    "output": "[Cause] ongoing pandemic disruptions and a focus on bringing down leverage following the 2019 acquisition of Hu-Friedy [Relation] cause [Effect] slow expansion of Cantel's potentially disruptive Revox sterilization business",
    "gold": "[Cause] this business will still require significant capital to get off the ground [Relation] prevent [Effect] expansion of Cantel's potentially disruptive Revox sterilization business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These businesses invest in a high degree of innovation, bringing cloud-based solutions that are becoming increasingly comparable with players such as Paycom and Paylocity.",
    "output": "[Cause] These businesses invest in a high degree of innovation [Relation] cause [Effect] bringing cloud-based solutions",
    "gold": "[Cause] These businesses invest in a high degree of innovation [Relation] cause [Effect] bringing cloud-based solutions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These businesses invest in a high degree of innovation, bringing cloud-based solutions that are becoming increasingly comparable with players such as Paycom and Paylocity.",
    "output": "[Cause] These businesses invest in a high degree of innovation [Relation] enable [Effect] cloud-based solutions",
    "gold": "[Cause] bringing cloud-based solutions [Relation] cause [Effect] becoming increasingly comparable with players such as Paycom and Paylocity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Paycom has made a high degree of investment into its platform to address a broader range of payroll and HCM needs, most recently introducing its self-service payroll offering, BETI.",
    "output": "[Cause] Paycom has made a high degree of investment into its platform [Relation] enable [Effect] address a broader range of payroll and HCM needs",
    "gold": "[Cause] Paycom has made a high degree of investment into its platform [Relation] cause [Effect] address a broader range of payroll and HCM needs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Paycom also provides data analytics via Direct Data Exchange, or DDX, which helps quantify the savings possible by eliminating duplicate processes.",
    "output": "[Cause] Paycom also provides data analytics via Direct Data Exchange, or DDX [Relation] enable [Effect] helps quantify the savings possible by eliminating duplicate processes",
    "gold": "[Cause] Paycom also provides data analytics via Direct Data Exchange, or DDX [Relation] enable [Effect] helps quantify the savings possible by eliminating duplicate processes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, as at year-end 2018, a 10% fall in equity prices would have shaved EUR 273.0 million and EUR 379.0 million from net income and equity for Aegon shareholders.",
    "output": "[Cause] a 10% fall in equity prices [Relation] cause [Effect] shaved EUR 273.0 million and EUR 379.0 million from net income and equity for Aegon shareholders",
    "gold": "[Cause] a 10% fall in equity prices [Relation] cause [Effect] shaved EUR 273.0 million and EUR 379.0 million from net income and equity for Aegon shareholders",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, exiting the midstream business will reduce earnings and will increase the payout ratio on OGE's common dividend to over 85% by our estimates.",
    "output": "[Cause] exiting the midstream business [Relation] cause [Effect] reduce earnings and will increase the payout ratio on OGE's common dividend to over 85% by our estimates",
    "gold": "[Cause] exiting the midstream business [Relation] enable [Effect] will reduce earnings and will increase the payout ratio",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As Pinterest enhances its ad selling system to handle more transactions in real time and to make it more programmatic, or \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"self-service,\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" costs associated with ads sold will decline and gross margins are likely to expand.",
    "output": "[Cause] Pinterest enhances its ad selling system to handle more transactions in real time and to make it more programmatic, or \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"",
    "gold": "[Cause] As Pinterest enhances its ad selling system to handle more transactions in real time and to make it more programmatic, or \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"self-service,\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" costs associated with ads sold will decline [Relation] cause [Effect]  gross margins are likely to expand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over the long term Smucker should continue to realize 38% gross margins, in line with its three-year average, as continuous improvement initiatives should offset inflation.",
    "output": "[Cause] continuous improvement initiatives should offset inflation [Relation] cause [Effect] Over the long term Smucker should continue to realize 38% gross margins, in line with its three-year average",
    "gold": "[Cause] continuous improvement initiatives should offset inflation [Relation] cause [Effect] Over the long term Smucker should continue to realize 38% gross margins, in line with its three-year average",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "International (outside North America) sales for the brand increased 15% in fiscal 2019 (to $3.1 billion from $2.7 billion) through acquisitions and organic growth, its fourth consecutive year of double-digit international growth.",
    "output": "[Cause] acquisitions and organic growth [Relation] cause [Effect] International (outside North America) sales for the brand increased 15% in fiscal 2019 (to $3.1 billion from $2.7 billion)",
    "gold": "[Cause] acquisitions and organic growth [Relation] cause [Effect] International (outside North America) sales for the brand increased 15% in fiscal 2019 (to $3.1 billion from $2.7 billion)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that hotel demand turns over each night while hotel development takes 18-24 months, any further deterioration in demand will be exacerbated by a period of oversupply.",
    "output": "[Cause] hotel demand turns over each night while hotel development takes 18-24 months [Relation] cause [Effect] any further deterioration in demand will be exacerbated by a period of oversupply",
    "gold": "[Cause] hotel demand turns over each night while hotel development takes 18-24 months [Relation] cause [Effect] any further deterioration in demand will be exacerbated by a period of oversupply",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's global presence limits potential competition at the top end of the corporate market, as it allows Marsh & McLennan to effectively serve multinational customers that smaller brokers cannot.",
    "output": "[Cause] it allows Marsh & McLennan to effectively serve multinational customers that smaller brokers cannot [Relation] cause [Effect] The company's global presence limits potential competition at the top end of the corporate market",
    "gold": "[Cause] The company's global presence [Relation] prevent [Effect] potential competition at the top end of the corporate market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company's global presence limits potential competition at the top end of the corporate market, as it allows Marsh & McLennan to effectively serve multinational customers that smaller brokers cannot.",
    "output": "[Cause] it allows Marsh & McLennan to effectively serve multinational customers that smaller brokers cannot [Relation] cause [Effect] The company's global presence limits potential competition at the top end of the corporate market",
    "gold": "[Cause] it allows Marsh & McLennan to effectively serve multinational customers that smaller brokers cannot [Relation] cause [Effect] The company's global presence limits potential competition at the top end of the corporate market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think traditional consulting, which would compete with the likes of Deloitte and Accenture, makes up only a small portion of revenue, given that only about 2% of Cognizant's employee base works in its traditional consulting arm.",
    "output": "[Cause] only about 2% of Cognizant's employee base works in its traditional consulting arm [Relation] cause [Effect] traditional consulting, which would compete with the likes of Deloitte and Accenture, makes up only a small portion of revenue",
    "gold": "[Cause] only about 2% of Cognizant's employee base works in its traditional consulting arm [Relation] cause [Effect] traditional consulting, which would compete with the likes of Deloitte and Accenture, makes up only a small portion of revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume that Snap will be working on additional camera-types for consumers in order to help create more content and user interaction.",
    "output": "[Cause] Snap will be working on additional camera-types for consumers [Relation] enable [Effect] help create more content and user interaction",
    "gold": "[Cause] Snap will be working on additional camera-types for consumers [Relation] enable [Effect] help create more content and user interaction",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Terex makes products that can significantly affect productivity and worker safety, intuition would suggest that the market would place a premium on brands known for their quality.",
    "output": "[Cause] Terex makes products that can significantly affect productivity and worker safety [Relation] cause [Effect] the market would place a premium on brands known for their quality",
    "gold": "[Cause] Terex makes products that can significantly affect productivity and worker safety [Relation] cause [Effect]  the market would place a premium on brands known for their quality",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, the ongoing shift to a capital light strategy should lead to structurally lower capital and operating expenditures than in the past, bolstering profit growth and allowing for investment into key brands.",
    "output": "[Cause] the ongoing shift to a capital light strategy [Relation] cause [Effect] structurally lower capital and operating expenditures than in the past, bolstering profit growth and allowing for investment into key brands",
    "gold": "[Cause] the ongoing shift to a capital light strategy [Relation] cause [Effect] structurally lower capital and operating expenditures than in the past, bolstering profit growth and allowing for investment into key brands",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Vast global scale and near-monopoly dominance in several Latin American and African markets give AB InBev significant fixed cost leverage and pricing power in procurement, especially following the acquisition of SABMiller in late 2016.",
    "output": "[Cause] Vast global scale and near-monopoly dominance in several Latin American and African markets [Relation] enable [Effect] AB InBev significant fixed cost leverage and pricing power in procurement",
    "gold": "[Cause] Vast global scale and near-monopoly dominance in several Latin American and African markets [Relation] cause [Effect] AB InBev significant fixed cost leverage and pricing power in procurement",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Combined with a slight increase in volume share owing to its well-placed Bay City plant, we think Tenaris will be able to surpass prior-cycle average shipment volumes at midcycle.",
    "output": "[Cause] Combined with a slight increase in volume share owing to its well-placed Bay City plant [Relation] enable [Effect] Tenaris will be able to surpass prior-cycle average shipment volumes at midcycle",
    "gold": "[Cause] Combined with a slight increase in volume share owing to its well-placed Bay City plant [Relation] enable [Effect] Tenaris will be able to surpass prior-cycle average shipment volumes at midcycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a large, national lab network, Idexx is able to run these tests at lower costs thanks to higher throughput.",
    "output": "[Cause] a large, national lab network [Relation] enable [Effect] Idexx is able to run these tests at lower costs thanks to higher throughput",
    "gold": "[Cause] a large, national lab network [Relation] enable [Effect] Idexx is able to run these tests at lower costs thanks to higher throughput",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, due to pricing and some non-asset-based contracts, asset servicing fee growth is likely to trail assets under custody growth.",
    "output": "[Cause] pricing and some non-asset-based contracts [Relation] cause [Effect] asset servicing fee growth is likely to trail assets under custody growth",
    "gold": "[Cause]  pricing and some non-asset-based contracts [Relation] cause [Effect]  asset servicing fee growth is likely to trail assets under custody growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the reality of joint probabilities (with likelihoods falling as an incremental event is added), we believe it is less likely that the company will consistently strike gold with its innovation.",
    "output": "[Cause] the reality of joint probabilities (with likelihoods falling as an incremental event is added) [Relation] cause [Effect] it is less likely that the company will consistently strike gold with its innovation",
    "gold": "[Cause] the reality of joint probabilities (with likelihoods falling as an incremental event is added) [Relation] cause [Effect] it is less likely that the company will consistently strike gold with its innovation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Longer term (between 2022 and 2025), we think the firm can post 5%-6% average net revenue growth, as benefits from the network effect support share gains.",
    "output": "[Cause] benefits from the network effect support share gains [Relation] cause [Effect] Longer term (between 2022 and 2025), we think the firm can post 5%-6% average net revenue growth",
    "gold": "[Cause]  benefits from the network effect support share gains [Relation] cause [Effect] Longer term (between 2022 and 2025), we think the firm can post 5%-6% average net revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since APS' rates are based on customer usage and a fixed charge per customer, a growing customer base benefits earnings until the next rate case when the total number of customers and their electric usage is accounted for and incorporated into the new rates.",
    "output": "[Cause] APS' rates are based on customer usage and a fixed charge per customer [Relation] cause [Effect] a growing customer base benefits earnings",
    "gold": "[Cause] APS' rates are based on customer usage and a fixed charge per customer [Relation] cause [Effect] a growing customer base benefits earnings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since APS' rates are based on customer usage and a fixed charge per customer, a growing customer base benefits earnings until the next rate case when the total number of customers and their electric usage is accounted for and incorporated into the new rates.",
    "output": "[Cause] the next rate case when the total number of customers and their electric usage is accounted for and incorporated into the new rates [Relation] cause [Effect] a growing customer base benefits earnings",
    "gold": "[Cause] the next rate case when the total number of customers and their electric usage is accounted for and incorporated into the new rates [Relation] cause [Effect] a growing customer base benefits earnings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And in light of consumers' newfound interest in cooking at home, McCormick has been serving up incredible growth in its retail arm (80% of its business).",
    "output": "[Cause] consumers' newfound interest in cooking at home [Relation] cause [Effect] McCormick has been serving up incredible growth in its retail arm (80% of its business)",
    "gold": "[Cause] consumers' newfound interest in cooking at home [Relation] enable [Effect] McCormick has been serving up incredible growth in its retail arm (80% of its business)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Once these platform machines are installed, the firm offers an array of consumable higher-margin tests that provide a stream of recurring revenue.",
    "output": "[Cause] these platform machines are installed [Relation] cause [Effect] the firm offers an array of consumable higher-margin tests",
    "gold": "[Cause] these platform machines are installed [Relation] cause [Effect] the firm offers an array of consumable higher-margin tests",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Once these platform machines are installed, the firm offers an array of consumable higher-margin tests that provide a stream of recurring revenue.",
    "output": "[Cause] the firm offers an array of consumable higher-margin tests [Relation] enable [Effect] provide a stream of recurring revenue",
    "gold": "[Cause] the firm offers an array of consumable higher-margin tests [Relation] cause [Effect] provide a stream of recurring revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "LabCorp has done a good job of launching new complex tests, which leads us to believe that annual esoteric test volume should outpace market growth.",
    "output": "[Cause] LabCorp has done a good job of launching new complex tests [Relation] cause [Effect] annual esoteric test volume should outpace market growth",
    "gold": "[Cause] LabCorp has done a good job of launching new complex tests [Relation] cause [Effect] annual esoteric test volume should outpace market growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In ultrasound and image-guided-therapy, or IGT, we assume mid-single-digit growth until 2025 driven by increased usage of noninvasive and minimally invasive procedures.",
    "output": "[Cause] increased usage of noninvasive and minimally invasive procedures [Relation] cause [Effect] mid-single-digit growth until 2025",
    "gold": "[Cause] increased usage of noninvasive and minimally invasive procedures [Relation] cause [Effect] mid-single-digit growth until 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of the integration of multiple aspects of IT technology built into a single appliance, we believe HCI becomes a crucial piece of a network and that customers will scale up with their incumbent manufacturer to ensure compatibility and limit disruptions.",
    "output": "[Cause] the integration of multiple aspects of IT technology built into a single appliance [Relation] cause [Effect] HCI becomes a crucial piece of a network and that customers will scale up with their incumbent manufacturer to ensure compatibility and limit disruptions",
    "gold": "[Cause]  the integration of multiple aspects of IT technology built into a single appliance [Relation] cause [Effect] HCI becomes a crucial piece of a network and that customers will scale up with their incumbent manufacturer to ensure compatibility and limit disruptions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although these product types are typically manufactured by use of blast furnaces, Nucor employs a differentiated production method in order to produce them by use of minimills.",
    "output": "[Cause] Nucor employs a differentiated production method [Relation] enable [Effect] produce them by use of minimills",
    "gold": "[Cause] Nucor employs a differentiated production method [Relation] cause [Effect] produce them by use of minimills",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We aren't surprised that previously planned innovation is on hold as the firm focuses its manufacturing resources on supplying retailers with the most in-demand offerings in the near term, which we view as prudent.",
    "output": "[Cause] the firm focuses its manufacturing resources on supplying retailers with the most in-demand offerings in the near term [Relation] cause [Effect] We aren't surprised that previously planned innovation is on hold",
    "gold": "[Cause] the firm focuses its manufacturing resources on supplying retailers with the most in-demand offerings in the near term [Relation] cause [Effect] We aren't surprised that previously planned innovation is on hold",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fleet applications are designed to make machines more productive, while also reducing machine down-time through predictive maintenance (enabled by a connected vehicle architecture).",
    "output": "[Cause] Fleet applications [Relation] enable [Effect] machines more productive",
    "gold": "[Cause] predictive maintenance (enabled by a connected vehicle architecture) [Relation] enable [Effect] reducing machine down-time",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Fleet applications are designed to make machines more productive, while also reducing machine down-time through predictive maintenance (enabled by a connected vehicle architecture).",
    "output": "[Cause] predictive maintenance [Relation] enable [Effect] reducing machine down-time",
    "gold": "[Cause] Fleet applications [Relation] enable [Effect] make machines more productive",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In 2011, Goldex experienced rock failure that weakened the underground mine, forcing Agnico Eagle to suspend operations and recognize roughly $300 million in impairment charges and losses.",
    "output": "[Cause] In 2011, Goldex experienced rock failure that weakened the underground mine [Relation] cause [Effect] Agnico Eagle to suspend operations and recognize roughly $300 million in impairment charges and losses",
    "gold": "[Cause] In 2011, Goldex experienced rock failure that weakened the underground mine [Relation] cause [Effect] Agnico Eagle to suspend operations and recognize roughly $300 million in impairment charges and losses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given sufficient demand in a region, the above-mentioned factors allow local players to operate profitably without too much concern about imports depressing prices from global competitors.",
    "output": "[Cause] imports depressing prices from global competitors [Relation] cause [Effect] local players to operate profitably",
    "gold": "[Cause] the above-mentioned factors [Relation] enable [Effect] local players to operate profitably without too much concern about imports depressing prices from global competitors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Despite all the competitive dynamics and evolving macro landscape, we rate Pfizer's overall uncertainty at low, given its large and diverse product portfolio.",
    "output": "[Cause] its large and diverse product portfolio [Relation] cause [Effect] we rate Pfizer's overall uncertainty at low",
    "gold": "[Cause] its large and diverse product portfolio [Relation] cause [Effect] we rate Pfizer's overall uncertainty at low",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "EDU has been able to raise its fees via new students or new programs to cover rising costs, driving an improving margin as utilization and operational efficiency continues to improve.",
    "output": "[Cause] utilization and operational efficiency continues to improve [Relation] cause [Effect] EDU has been able to raise its fees via new students or new programs to cover rising costs, driving an improving margin",
    "gold": "[Cause] utilization and operational efficiency continues to improve [Relation] enable [Effect] EDU has been able to raise its fees via new students or new programs to cover rising costs, driving an improving margin",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the non-GAAP operating margin to reach 6.0% in 2030 from 2.1% in 2020, due to its increasing bargaining power with suppliers, declining fulfillment cost/sales ratio, and operating leverage.",
    "output": "[Cause] declining fulfillment cost/sales ratio, and operating leverage [Relation] cause [Effect] the non-GAAP operating margin to reach 6.0% in 2030 from 2.1% in 2020",
    "gold": "[Cause] declining fulfillment cost/sales ratio, and operating leverage [Relation] cause [Effect] the non-GAAP operating margin to reach 6.0% in 2030 from 2.1% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A protracted downturn could also affect the financial services segment, making lending more costly and the ability to securities receivables increasingly difficult.",
    "output": "[Cause] A protracted downturn [Relation] cause [Effect] affect the financial services segment",
    "gold": "[Cause] A protracted downturn [Relation] cause [Effect] affect the financial services segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A protracted downturn could also affect the financial services segment, making lending more costly and the ability to securities receivables increasingly difficult.",
    "output": "[Cause] A protracted downturn [Relation] cause [Effect] affect the financial services segment",
    "gold": "[Cause] affect the financial services segment [Relation] cause [Effect] lending more costly and the ability to securities receivables increasingly difficult",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Overall, Seagen's ADC portfolio boasts a unique combination of efficacy and lucrative areas of focus that bolsters our confidence in its returns.",
    "output": "[Cause] Seagen's ADC portfolio boasts a unique combination of efficacy and lucrative areas of focus [Relation] enable [Effect] bolsters our confidence in its returns",
    "gold": "[Cause] Seagen's ADC portfolio boasts a unique combination of efficacy and lucrative areas of focus [Relation] enable [Effect]  bolsters our confidence in its returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Governments are resource-constrained in terms of money and people, so a yearlong disruptive period of package implementation is delayed as long as possible.",
    "output": "[Cause] Governments are resource-constrained in terms of money and people [Relation] cause [Effect] a yearlong disruptive period of package implementation is delayed as long as possible",
    "gold": "[Cause] Governments are resource-constrained in terms of money and people [Relation] cause [Effect] a yearlong disruptive period of package implementation is delayed as long as possible",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As sales from these sources grow, and as Motorola effectively realizes cost reductions for the recent acquisitions, we expect gross and operating margins to expand.",
    "output": "[Cause] sales from these sources grow, and as Motorola effectively realizes cost reductions for the recent acquisitions [Relation] cause [Effect] gross and operating margins to expand",
    "gold": "[Cause]  sales from these sources grow, and as Motorola effectively realizes cost reductions for the recent acquisitions [Relation] cause [Effect] gross and operating margins to expand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This has been evidenced by the bank's ability to keep explicit deposit costs and its earnings credit rates stable even as rate hikes come about.",
    "output": "[Cause] the bank's ability to keep explicit deposit costs and its earnings credit rates stable even as rate hikes come about [Relation] enable [Effect] This",
    "gold": "[Cause] the bank's ability to keep explicit deposit costs and its earnings credit rates stable even as rate hikes come about [Relation] enable [Effect] This",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the long term, we anticipate solid mid-single-digit comparable expansion as Costco's attractive values drive store traffic and its newer international operations deliver member growth.",
    "output": "[Cause] Costco's attractive values drive store traffic and its newer international operations deliver member growth [Relation] cause [Effect] solid mid-single-digit comparable expansion",
    "gold": "[Cause] Costco's attractive values drive store traffic and its newer international operations deliver member growth [Relation] enable [Effect] solid mid-single-digit comparable expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Notably, the pipeline has capacity up to 1 mmb/d, which means that the pipeline can be expanded to handle incremental demand from producers and the market as needed.",
    "output": "[Cause] the pipeline has capacity up to 1 mmb/d [Relation] enable [Effect] the pipeline can be expanded to handle incremental demand from producers and the market as needed",
    "gold": "[Cause] the pipeline has capacity up to 1 mmb/d [Relation] enable [Effect]  the pipeline can be expanded to handle incremental demand from producers and the market as needed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the homes segment, we expect gross profit to be razor thin and improve slightly over time as Zillow pursues the requisite scale to operate effectively in the marketplace.",
    "output": "[Cause] Zillow pursues the requisite scale to operate effectively in the marketplace [Relation] cause [Effect] gross profit to be razor thin and improve slightly over time",
    "gold": "[Cause]  Zillow pursues the requisite scale to operate effectively in the marketplace [Relation] cause [Effect] gross profit to be razor thin and improve slightly over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, flexible seat-count terms could cause a temporary headwind in an economic downturn, as customers can scale their seat counts up and down on a monthly basis.",
    "output": "[Cause] customers can scale their seat counts up and down on a monthly basis [Relation] cause [Effect] flexible seat-count terms could cause a temporary headwind in an economic downturn",
    "gold": "[Cause] customers can scale their seat counts up and down on a monthly basis [Relation] enable [Effect] flexible seat-count terms could cause a temporary headwind in an economic downturn",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management believes the existing branch network is rightsized and serves an important role in the company; however, we think the number of branches could continue to decline in the coming years as order trends shift away from the branches.",
    "output": "[Cause] order trends shift away from the branches [Relation] cause [Effect] the number of branches could continue to decline in the coming years",
    "gold": "[Cause] order trends shift away from the branches [Relation] cause [Effect]  the number of branches could continue to decline in the coming years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, Dell is benefiting from organizations undergoing digital transformation and business continuity needs, which has gradually improved its cash flow and balance sheet risk.",
    "output": "[Cause] Dell is benefiting from organizations undergoing digital transformation and business continuity needs [Relation] enable [Effect] gradually improved its cash flow and balance sheet risk",
    "gold": "[Cause]  Dell is benefiting from organizations undergoing digital transformation and business continuity needs [Relation] cause [Effect] gradually improved its cash flow and balance sheet risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nonintegrated lithium producers that purchase and convert hard-rock-based spodumene represent the marginal cost of production for lithium, as they have a higher cost of production than lithium extracted from brine.",
    "output": "[Cause] they have a higher cost of production than lithium extracted from brine [Relation] cause [Effect] Nonintegrated lithium producers that purchase and convert hard-rock-based spodumene represent the marginal cost of production for lithium",
    "gold": "[Cause] they have a higher cost of production than lithium extracted from brine [Relation] cause [Effect] Nonintegrated lithium producers that purchase and convert hard-rock-based spodumene represent the marginal cost of production for lithium",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ferrari's products are highly engineered, requiring the company to attract and retain highly skilled human capital with expertise in software and various engineering disciplines.",
    "output": "[Cause] Ferrari's products are highly engineered [Relation] cause [Effect] requiring the company to attract and retain highly skilled human capital with expertise in software and various engineering disciplines",
    "gold": "[Cause]  the company to attract and retain highly skilled human capital with expertise in software and various engineering disciplines [Relation] cause [Effect] Ferrari's products are highly engineered",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Through its complex assets and concentration in the Gulf Coast, Valero retains the access and capability to process light or heavy crude, depending on which offers the greatest discount or optimal economics.",
    "output": "[Cause] complex assets and concentration in the Gulf Coast [Relation] enable [Effect] Valero retains the access and capability to process light or heavy crude",
    "gold": "[Cause] complex assets and concentration in the Gulf Coast [Relation] enable [Effect] Valero retains the access and capability to process light or heavy crude",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Johnson Controls is diligently working to increase its exposure to recurring service revenue, a cyclical downturn would still have a negative impact on Johnson Controls' sales, profit margins, and free cash flow.",
    "output": "[Cause] a cyclical downturn [Relation] cause [Effect] have a negative impact on Johnson Controls' sales, profit margins, and free cash flow",
    "gold": "[Cause] a cyclical downturn [Relation] enable [Effect] have a negative impact on Johnson Controls' sales, profit margins, and free cash flow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although these fixed-price contracts carry more financial risk to the contractor, as the burden of cost overruns shifts toward the contractors, these contracts on mature programs tend to be more profitable because manufacturing costs are better understood as a program ages.",
    "output": "[Cause] the burden of cost overruns shifts toward the contractors [Relation] cause [Effect] these fixed-price contracts carry more financial risk to the contractor",
    "gold": "[Cause] a program ages [Relation] cause [Effect] manufacturing costs are better understood",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although these fixed-price contracts carry more financial risk to the contractor, as the burden of cost overruns shifts toward the contractors, these contracts on mature programs tend to be more profitable because manufacturing costs are better understood as a program ages.",
    "output": "[Cause] manufacturing costs are better understood as a program ages [Relation] cause [Effect] these fixed-price contracts carry more financial risk to the contractor",
    "gold": "[Cause] manufacturing costs are better understood [Relation] enable [Effect] these contracts on mature programs tend to be more profitable",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although these fixed-price contracts carry more financial risk to the contractor, as the burden of cost overruns shifts toward the contractors, these contracts on mature programs tend to be more profitable because manufacturing costs are better understood as a program ages.",
    "output": "[Cause] manufacturing costs are better understood [Relation] cause [Effect] these fixed-price contracts carry more financial risk to the contractor",
    "gold": "[Cause] the burden of cost overruns shifts toward the contractors [Relation] cause [Effect] these fixed-price contracts carry more financial risk to the contractor",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although we think Shaw will be able to win some customers by offering low prices and affect the incumbents' pricing power, we think its network disadvantages will shield the incumbents from a full-blown price war.",
    "output": "[Cause] its network disadvantages [Relation] enable [Effect] shield the incumbents from a full-blown price war",
    "gold": "[Cause]  its network disadvantages [Relation] enable [Effect]  shield the incumbents from a full-blown price war",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the high cost of failure is likely to prevent the military from entrusting a missile contract with an untested contractor.",
    "output": "[Cause] the high cost of failure [Relation] prevent [Effect] the military from entrusting a missile contract with an untested contractor",
    "gold": "[Cause]  the high cost of failure [Relation] prevent [Effect]  the military from entrusting a missile contract with an untested contractor",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also think TE will remain a serial acquirer, bolting on smaller components players to expand its geographic and technological reach.",
    "output": "[Cause] bolting on smaller components players [Relation] enable [Effect] expand its geographic and technological reach",
    "gold": "[Cause] bolting on smaller components players [Relation] cause [Effect] expand its geographic and technological reach",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, the property book within global corporate had led to losses, which management attributed to a higher level of frequency.",
    "output": "[Cause] the property book within global corporate [Relation] cause [Effect] losses",
    "gold": "[Cause] the property book within global corporate [Relation] cause [Effect] losses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, the property book within global corporate had led to losses, which management attributed to a higher level of frequency.",
    "output": "[Cause] management attributed to a higher level of frequency [Relation] cause [Effect] losses",
    "gold": "[Cause] management [Relation] enable [Effect] a higher level of frequency",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, an exogenous shock to macro conditions or global or regional recessions could lead to a slowdown in global shipping velocity.",
    "output": "[Cause] an exogenous shock to macro conditions or global or regional recessions [Relation] cause [Effect] a slowdown in global shipping velocity",
    "gold": "[Cause] an exogenous shock to macro conditions or global or regional recessions [Relation] cause [Effect] a slowdown in global shipping velocity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Twilio's solutions APIs such as Flex and Marketing Campaigns support enterprise-level adoption of its services, and once embedded, their mission-critical functions make it unlikely that the enterprise will switch vendors anytime soon.",
    "output": "[Cause] their mission-critical functions [Relation] prevent [Effect] the enterprise will switch vendors anytime soon",
    "gold": "[Cause] their mission-critical functions [Relation] prevent [Effect]  the enterprise will switch vendors anytime soon",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Marvell has also buttressed its networking chip business through the acquisition of competitor Cavium. This greatly expanded its reach into the infrastructure networking market, and Marvell is now able to serve clients in a variety of functions and price points.",
    "output": "[Cause] Marvell has also buttressed its networking chip business through the acquisition of competitor Cavium [Relation] enable [Effect] expanded its reach into the infrastructure networking market, and Marvell is now able to serve clients in a variety of functions and price points",
    "gold": "[Cause] Marvell has also buttressed its networking chip business through the acquisition of competitor Cavium [Relation] cause [Effect]  expanded its reach into the infrastructure networking market, and Marvell is now able to serve clients in a variety of functions and price points",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, the firm's display segment has benefited from the ongoing transition of LCD to OLED screens featured in high-end smartphones.",
    "output": "[Cause] the ongoing transition of LCD to OLED screens featured in high-end smartphones [Relation] enable [Effect] the firm's display segment has benefited",
    "gold": "[Cause] the ongoing transition of LCD to OLED screens featured in high-end smartphones [Relation] enable [Effect] the firm's display segment has benefited",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the bank's higher capital levels since the crisis, the increasing importance of scale and scope with changes in technology, and the bank's robust fee income, we believe JPMorgan will consistently earn returns that exceed its 9.5% cost of equity through the cycle.",
    "output": "[Cause] the bank's higher capital levels since the crisis, the increasing importance of scale and scope with changes in technology, and the bank's robust fee income [Relation] cause [Effect] JPMorgan will consistently earn returns that exceed its 9.5% cost of equity through the cycle",
    "gold": "[Cause]  the bank's higher capital levels since the crisis, the increasing importance of scale and scope with changes in technology, and the bank's robust fee income [Relation] enable [Effect]  JPMorgan will consistently earn returns that exceed its 9.5% cost of equity through the cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "CROs can be susceptible to impacts from large cancellations since it can be difficult to repurpose capacity that was previously allocated to a large trial.",
    "output": "[Cause] it can be difficult to repurpose capacity that was previously allocated to a large trial [Relation] cause [Effect] CROs can be susceptible to impacts from large cancellations",
    "gold": "[Cause]  it can be difficult to repurpose capacity that was previously allocated to a large trial [Relation] cause [Effect] CROs can be susceptible to impacts from large cancellations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The market for RT equipment is characterised by very high barriers to entry owing to significant intellectual property and technological know-how and high switching costs that arise from significant training costs and disruption risk.",
    "output": "[Cause] significant intellectual property and technological know-how and high switching costs [Relation] cause [Effect] The market for RT equipment is characterised by very high barriers to entry",
    "gold": "[Cause] significant intellectual property and technological know-how and high switching costs [Relation] cause [Effect] The market for RT equipment is characterised by very high barriers to entry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The market for RT equipment is characterised by very high barriers to entry owing to significant intellectual property and technological know-how and high switching costs that arise from significant training costs and disruption risk.",
    "output": "[Cause] significant intellectual property and technological know-how and high switching costs [Relation] cause [Effect] The market for RT equipment is characterised by very high barriers to entry",
    "gold": "[Cause] significant training costs and disruption risk [Relation] cause [Effect] high switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Recently, the Federal Reserve eased liquidity coverage requirements for banks with assets between $250 billion and $700 billion, as a result of which PNC is no longer expected to maintain 100% liquidity coverage.",
    "output": "[Cause] the Federal Reserve eased liquidity coverage requirements for banks with assets between $250 billion and $700 billion [Relation] cause [Effect] PNC is no longer expected to maintain 100% liquidity coverage",
    "gold": "[Cause] the Federal Reserve eased liquidity coverage requirements for banks with assets between $250 billion and $700 billion [Relation] cause [Effect]  PNC is no longer expected to maintain 100% liquidity coverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that a diversified client base strengthens Icon's competitive advantage, as small/midsize clients are likely to need full outsourcing solutions, while large pharmaceutical companies offer profitable preferred partnerships with high switching costs, choosing one or a few trusted CROs to which they funnel most of their new business.",
    "output": "[Cause] small/midsize clients are likely to need full outsourcing solutions [Relation] cause [Effect] a diversified client base strengthens Icon's competitive advantage",
    "gold": "[Cause] small/midsize clients are likely to need full outsourcing solutions [Relation] cause [Effect] a diversified client base strengthens Icon's competitive advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the global economy recovers from the COVID recession, CME Group's energy and agricultural commodity trading volumes should approach pre-COVID levels.",
    "output": "[Cause] the global economy recovers from the COVID recession [Relation] cause [Effect] CME Group's energy and agricultural commodity trading volumes should approach pre-COVID levels",
    "gold": "[Cause]  the global economy recovers from the COVID recession [Relation] enable [Effect] CME Group's energy and agricultural commodity trading volumes should approach pre-COVID levels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Third, Trane Technologies competes against well-established and capable rivals (for example, Carrier, Johnson Controls, and Lennox) and must stay on the cutting edge of technology to meet future environmental and energy-efficiency standards, win future bids, and maintain its brand image.",
    "output": "[Cause] Trane Technologies competes against well-established and capable rivals [Relation] cause [Effect] stay on the cutting edge of technology",
    "gold": "[Cause] stay on the cutting edge of technology [Relation] enable [Effect] meet future environmental and energy-efficiency standards, win future bids, and maintain its brand image",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Third, Trane Technologies competes against well-established and capable rivals (for example, Carrier, Johnson Controls, and Lennox) and must stay on the cutting edge of technology to meet future environmental and energy-efficiency standards, win future bids, and maintain its brand image.",
    "output": "[Cause] stay on the cutting edge of technology [Relation] enable [Effect] meet future environmental and energy-efficiency standards, win future bids, and maintain its brand image",
    "gold": "[Cause] Trane Technologies competes against well-established and capable rivals [Relation] enable [Effect] stay on the cutting edge of technology",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To diversify its output and protect against RIN purchase obligation costs, the company recently began construction on a new renewable diesel unit at the Artesia facility with a production capacity of 120 million gallons a year.",
    "output": "[Cause] diversify its output and protect against RIN purchase obligation costs [Relation] cause [Effect] the company recently began construction on a new renewable diesel unit at the Artesia facility with a production capacity of 120 million gallons a year",
    "gold": "[Cause] diversify its output and protect against RIN purchase obligation costs [Relation] cause [Effect] the company recently began construction on a new renewable diesel unit at the Artesia facility with a production capacity of 120 million gallons a year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Plegridy is likely to help Biogen maintain its lead in the interferon market, we expect generic Copaxone and Tecfidera and newer injectables to weigh on sales of injectable MS therapies, and Tecfidera sales are plummeting due to U.S.",
    "output": "[Cause] U.S. [Relation] cause [Effect] Tecfidera sales are plummeting",
    "gold": "[Cause]  we expect generic Copaxone and Tecfidera and newer injectables to weigh on sales of injectable MS therapies [Relation] cause [Effect] Tecfidera sales are plummeting due to U.S",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think Littelfuse's best organic growth opportunities will come from vehicle electrification; battery electric vehicles require five times the circuit protection content of an internal combustion counterpart, and charging infrastructure presents a lucrative opportunity for the firm's growing power semiconductor business.",
    "output": "[Cause] vehicle electrification [Relation] enable [Effect] Littelfuse's best organic growth opportunities",
    "gold": "[Cause] battery electric vehicles require five times the circuit protection content of an internal combustion counterpart, and charging infrastructure presents a lucrative opportunity for the firm's growing power semiconductor business [Relation] cause [Effect] We think Littelfuse's best organic growth opportunities will come from vehicle electrification",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Adding to these challenges from an ESG perspective, any product recalls (necessitated by substandard quality) or claims of price-fixing could also weigh on volume; however, we don't see either of these factors as likely to materially impair its brand standing or cash flows.",
    "output": "[Cause] any product recalls (necessitated by substandard quality) or claims of price-fixing [Relation] cause [Effect] weigh on volume",
    "gold": "[Cause] any product recalls (necessitated by substandard quality) or claims of price-fixing [Relation] cause [Effect] weigh on volume",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although Farfetch's third-party take rate is among the highest of marketplaces under our coverage, suggesting ability to monetize the network, the company has yet to show profits and positive cash flows, given the elevated technology investment levels and lack of leverage on general and administrative and fulfillment costs.",
    "output": "[Cause] the elevated technology investment levels and lack of leverage on general and administrative and fulfillment costs [Relation] cause [Effect] the company has yet to show profits and positive cash flows",
    "gold": "[Cause] the elevated technology investment levels and lack of leverage on general and administrative and fulfillment costs [Relation] cause [Effect] the company has yet to show profits and positive cash flows",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, HCA has spent the past decade or so investing in its surgical suites to improve efficiency, nursing, and technology offerings to appeal to surgeons scheduling those procedures and positively influence patient satisfaction, which builds on the reputation of HCA's facilities.",
    "output": "[Cause] HCA has spent the past decade or so investing in its surgical suites to improve efficiency, nursing, and technology offerings to appeal to surgeons scheduling those procedures and positively influence patient satisfaction [Relation] enable [Effect] builds on the reputation of HCA's facilities",
    "gold": "[Cause]  the reputation of HCA's facilities [Relation] enable [Effect] investing in its surgical suites to improve efficiency, nursing, and technology offerings to appeal to surgeons scheduling those procedures and positively influence patient satisfaction",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "On average, the firm's latest completion design is expected to yield 150 thousand barrels of oil in the first 180 days of production, putting the firm on equal footing with the best Bakken operators.",
    "output": "[Cause] the firm's latest completion design is expected to yield 150 thousand barrels of oil in the first 180 days of production [Relation] enable [Effect] putting the firm on equal footing with the best Bakken operators",
    "gold": "[Cause] the firm's latest completion design is expected to yield 150 thousand barrels of oil in the first 180 days of production [Relation] enable [Effect]  putting the firm on equal footing with the best Bakken operators",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, this drop in retention, while offset by rate increases in the remaining books, led to a 12% drop in group gross written premium.",
    "output": "[Cause] this drop in retention [Relation] cause [Effect] offset by rate increases in the remaining books",
    "gold": "[Cause] this drop in retention [Relation] cause [Effect] a 12% drop in group gross written premium",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Overall, this drop in retention, while offset by rate increases in the remaining books, led to a 12% drop in group gross written premium.",
    "output": "[Cause] rate increases in the remaining books [Relation] cause [Effect] a 12% drop in group gross written premium",
    "gold": "[Cause] rate increases in the remaining books [Relation] prevent [Effect] this drop in retention",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Even in a more competitive environment (our bear case), we expect the firm to be able to average low-double-digit ROICs, owing to the strength of its operating strategy.",
    "output": "[Cause] the strength of its operating strategy [Relation] enable [Effect] the firm to be able to average low-double-digit ROICs",
    "gold": "[Cause] the strength of its operating strategy [Relation] cause [Effect]  the firm to be able to average low-double-digit ROICs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Bristol's Inrebic is now approved and has strong efficacy, but serious safety issues will likely prevent it from competing with Jakafi as a first treatment for myelofibrosis patients, and the drug will instead likely be reserved for those failing or intolerant of Jakafi.",
    "output": "[Cause] serious safety issues [Relation] prevent [Effect] it from competing with Jakafi as a first treatment for myelofibrosis patients",
    "gold": "[Cause] serious safety issues [Relation] prevent [Effect] it from competing with Jakafi as a first treatment for myelofibrosis patients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Skyworks achieves sales growth in the near term, we expect margin expansion so that the firm approaches its long-term target of 53%--we model this occurring in fiscal 2024.",
    "output": "[Cause] Skyworks achieves sales growth in the near term [Relation] cause [Effect] margin expansion",
    "gold": "[Cause]  margin expansion [Relation] cause [Effect] firm approaches its long-term target of 53%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As Skyworks achieves sales growth in the near term, we expect margin expansion so that the firm approaches its long-term target of 53%--we model this occurring in fiscal 2024.",
    "output": "[Cause] margin expansion [Relation] enable [Effect] the firm approaches its long-term target of 53%",
    "gold": "[Cause] Skyworks achieves sales growth in the near term [Relation] enable [Effect]  margin expansion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Any uncertainty in the debt markets could increase Lithia's future borrowing costs, thereby limiting its ability to buy more dealerships or forcing the company to have a dilutive share offering.",
    "output": "[Cause] Any uncertainty in the debt markets [Relation] cause [Effect] increase Lithia's future borrowing costs",
    "gold": "[Cause] Any uncertainty in the debt markets [Relation] enable [Effect] increase Lithia's future borrowing costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Any uncertainty in the debt markets could increase Lithia's future borrowing costs, thereby limiting its ability to buy more dealerships or forcing the company to have a dilutive share offering.",
    "output": "[Cause] Any uncertainty in the debt markets [Relation] cause [Effect] increase Lithia's future borrowing costs",
    "gold": "[Cause] increase Lithia's future borrowing costs [Relation] cause [Effect] limiting its ability to buy more dealerships",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Any uncertainty in the debt markets could increase Lithia's future borrowing costs, thereby limiting its ability to buy more dealerships or forcing the company to have a dilutive share offering.",
    "output": "[Cause] Any uncertainty in the debt markets [Relation] cause [Effect] increase Lithia's future borrowing costs",
    "gold": "[Cause] increase Lithia's future borrowing costs [Relation] cause [Effect] forcing the company to have a dilutive share offering",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Operating margin improved to 7.6% in 2017, 9.3% in 2018, and 9.7% in 2019, and we project that the margin will rebound to the 2015 level by 2024 as the firm benefits from higher margin streaming revenue and improved profitability at Canal+.",
    "output": "[Cause] the firm benefits from higher margin streaming revenue and improved profitability at Canal+ [Relation] cause [Effect] the margin will rebound to the 2015 level by 2024",
    "gold": "[Cause] the firm benefits from higher margin streaming revenue and improved profitability at Canal+ [Relation] enable [Effect] the margin will rebound to the 2015 level by 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the vast majority of Aptar's beverage products designed for use with nonpressurized containers, this would impair the company's ability to generate the strong growth rates it has in recent years associated with the ongoing shift away from products like soda and mainstream beers.",
    "output": "[Cause] the vast majority of Aptar's beverage products designed for use with nonpressurized containers [Relation] prevent [Effect] the company's ability to generate the strong growth rates it has in recent years associated with the ongoing shift away from products like soda and mainstream beers",
    "gold": "[Cause] impair the company's ability to generate the strong growth rates it has in recent years [Relation] cause [Effect] the ongoing shift away from products like soda and mainstream beers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, the level of competition has helped to keep subscription prices from rising substantially. As a result, we believe that many music services are currently either not generating any operating income or relatively low levels of operating income.",
    "output": "[Cause] the level of competition has helped to keep subscription prices from rising substantially [Relation] cause [Effect] many music services are currently either not generating any operating income or relatively low levels of operating income",
    "gold": "[Cause] the level of competition has helped to keep subscription prices from rising substantially [Relation] cause [Effect] many music services are currently either not generating any operating income or relatively low levels of operating income",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "CROs can be susceptible to impacts from large cancellations, whether due to clinical failure or reprioritization, since it can be difficult to repurpose capacity that was previously allocated to a large trial.",
    "output": "[Cause] it can be difficult to repurpose capacity that was previously allocated to a large trial [Relation] cause [Effect] CROs can be susceptible to impacts from large cancellations",
    "gold": "[Cause]  it can be difficult to repurpose capacity that was previously allocated to a large trial [Relation] cause [Effect] CROs can be susceptible to impacts from large cancellations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we believe Eldorado's acquisitions have added shareholder value and some support for a brand intangible asset advantage, this is overshadowed by competitive barriers in the U.S.",
    "output": "[Cause] Eldorado's acquisitions [Relation] enable [Effect] added shareholder value and some support for a brand intangible asset advantage",
    "gold": "[Cause]  Eldorado's acquisitions [Relation] enable [Effect]  added shareholder value and some support for a brand intangible asset advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our base case, we assume the company is able to continue growing property rental revenue as some of its acquisitions build on occupancy levels and fully influence top-line results.",
    "output": "[Cause] some of its acquisitions build on occupancy levels and fully influence top-line results [Relation] cause [Effect] the company is able to continue growing property rental revenue",
    "gold": "[Cause] some of its acquisitions build on occupancy levels and fully influence top-line results [Relation] cause [Effect] the company is able to continue growing property rental revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Zebra consistently outspends its competitors on R&amp;D--both in absolute terms and as a percentage of revenue--and the majority of this budget goes into software, as more than 70% of Zebra's engineers are software engineers.",
    "output": "[Cause] more than 70% of Zebra's engineers are software engineers [Relation] cause [Effect] the majority of this budget goes into software",
    "gold": "[Cause]  more than 70% of Zebra's engineers are software engineers [Relation] enable [Effect]  the majority of this budget goes into software",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The acquisition was a natural fit for the companies, and GE was able to rapidly boost Bently Nevada revenue in the years following the acquisition.",
    "output": "[Cause] The acquisition was a natural fit for the companies [Relation] enable [Effect] GE was able to rapidly boost Bently Nevada revenue in the years following the acquisition",
    "gold": "[Cause] GE was able to rapidly boost Bently Nevada revenue in the years following the acquisition [Relation] cause [Effect] The acquisition was a natural fit for the companies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "It simplified manufacturing by reducing the number of items it produces by 40% while improving capacity utilization from 50% to 80%.",
    "output": "[Cause] reducing the number of items it produces by 40% while improving capacity utilization from 50% to 80% [Relation] enable [Effect] simplified manufacturing",
    "gold": "[Cause] reducing the number of items it produces by 40% while improving capacity utilization from 50% to 80% [Relation] enable [Effect] simplified manufacturing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After adjusting our model for third-quarter results, we are reducing our fair value estimate to $77 per share from $78 due to a slower assumed recovery in the commercial aftermarket.",
    "output": "[Cause] a slower assumed recovery in the commercial aftermarket [Relation] cause [Effect] we are reducing our fair value estimate to $77 per share from $78",
    "gold": "[Cause] a slower assumed recovery in the commercial aftermarket [Relation] cause [Effect] we are reducing our fair value estimate to $77 per share from $78",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Hyatt's growing brand and management expertise, along with these meaningful switching costs, result in low attrition of its managed and franchised customer base.",
    "output": "[Cause] Hyatt's growing brand and management expertise, along with these meaningful switching costs [Relation] cause [Effect] low attrition of its managed and franchised customer base",
    "gold": "[Cause] Hyatt's growing brand and management expertise, along with these meaningful switching costs [Relation] cause [Effect] low attrition of its managed and franchised customer base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Should the return on investment be poor, Baidu will cut back on sales and marketing expenses, which will boost margin.",
    "output": "[Cause] the return on investment be poor [Relation] cause [Effect] Baidu will cut back on sales and marketing expenses",
    "gold": "[Cause] cut back on sales and marketing expenses [Relation] cause [Effect] boost margin",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Should the return on investment be poor, Baidu will cut back on sales and marketing expenses, which will boost margin.",
    "output": "[Cause] cut back on sales and marketing expenses [Relation] enable [Effect] boost margin",
    "gold": "[Cause] the return on investment be poor [Relation] cause [Effect] cut back on sales and marketing expenses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That is to say that a significant disruption/slowdown in revenue from North America could have a major impact on the firm's topline.",
    "output": "[Cause] a significant disruption/slowdown in revenue from North America [Relation] cause [Effect] have a major impact on the firm's topline",
    "gold": "[Cause] a significant disruption/slowdown in revenue from North America [Relation] cause [Effect] have a major impact on the firm's topline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And with a portion of its production occurring in regions (like India) where water is a scarce resource, Colgate may also be challenged by impediments to its manufacturing process over time.",
    "output": "[Cause] a portion of its production occurring in regions (like India) where water is a scarce resource [Relation] cause [Effect] Colgate may also be challenged by impediments to its manufacturing process over time",
    "gold": "[Cause] a portion of its production occurring in regions (like India) where water is a scarce resource [Relation] cause [Effect] Colgate may also be challenged by impediments to its manufacturing process over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, Check Point benefits from enterprises desiring to reduce security vendors to lower network complexity and manage security through a singular policy.",
    "output": "[Cause] enterprises desiring to reduce security vendors to lower network complexity [Relation] enable [Effect] Check Point benefits",
    "gold": "[Cause] reduce security vendors [Relation] enable [Effect] lower network complexity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, Check Point benefits from enterprises desiring to reduce security vendors to lower network complexity and manage security through a singular policy.",
    "output": "[Cause] enterprises desiring to reduce security vendors to lower network complexity and manage security through a singular policy [Relation] enable [Effect] Check Point benefits",
    "gold": "[Cause] manage security [Relation] enable [Effect] a singular policy",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, Check Point benefits from enterprises desiring to reduce security vendors to lower network complexity and manage security through a singular policy.",
    "output": "[Cause] enterprises desiring to reduce security vendors to lower network complexity [Relation] enable [Effect] manage security through a singular policy",
    "gold": "[Cause] enterprises desiring to reduce security vendors to lower network complexity and manage security through a singular policy [Relation] cause [Effect] Check Point benefits",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Overall, many states appear reluctant to switch managed-care providers, especially if a managed-care plan already has effective programs and provider networks for its Medicaid population, which are evident at Centene.",
    "output": "[Cause] a managed-care plan already has effective programs and provider networks for its Medicaid population [Relation] cause [Effect] many states appear reluctant to switch managed-care providers",
    "gold": "[Cause] a managed-care plan already has effective programs and provider networks for its Medicaid population [Relation] cause [Effect] many states appear reluctant to switch managed-care providers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the water management business also carries potential upside as Ecolab's systems can help its customers meet their ESG goals.",
    "output": "[Cause] Ecolab's systems can help its customers meet their ESG goals [Relation] cause [Effect] the water management business also carries potential upside",
    "gold": "[Cause] Ecolab's systems can help its customers meet their ESG goals [Relation] cause [Effect] the water management business also carries potential upside",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Small changes in labor regulation can result in significant increases in the reporting requirements that small and midsize business must provide the IRS and government.",
    "output": "[Cause] Small changes in labor regulation [Relation] cause [Effect] significant increases in the reporting requirements that small and midsize business must provide the IRS and government",
    "gold": "[Cause] Small changes in labor regulation [Relation] cause [Effect] significant increases in the reporting requirements that small and midsize business must provide the IRS and government",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Barriers to entry are very low, given the small size of the properties and that the cost to build is generally around $5 million.",
    "output": "[Cause] the small size of the properties and that the cost to build is generally around $5 million [Relation] cause [Effect] Barriers to entry are very low",
    "gold": "[Cause] given the small size of the properties [Relation] cause [Effect] Barriers to entry are very low",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Competitors have little incentive to build competing transmission lines if one that Ameren owns already is serving a market's full capacity.",
    "output": "[Cause] Ameren owns already is serving a market's full capacity [Relation] cause [Effect] Competitors have little incentive to build competing transmission lines",
    "gold": "[Cause]  Ameren owns already is serving a market's full capacity [Relation] cause [Effect] Competitors have little incentive to build competing transmission lines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, Dexcom's alliances with Tandem, Insulet, Livongo, and Eli Lilly provide opportunities for the firm to remain tightly woven into most new diabetes technologies.",
    "output": "[Cause] Dexcom's alliances with Tandem, Insulet, Livongo, and Eli Lilly [Relation] enable [Effect] the firm to remain tightly woven into most new diabetes technologies",
    "gold": "[Cause] Dexcom's alliances with Tandem, Insulet, Livongo, and Eli Lilly [Relation] enable [Effect] the firm to remain tightly woven into most new diabetes technologies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Corning can produce these high-quality glass substrates at a lower cost than its competitors as a result of its centralized R&D.",
    "output": "[Cause] its centralized R&D [Relation] cause [Effect] Corning can produce these high-quality glass substrates at a lower cost than its competitors",
    "gold": "[Cause] its centralized R&D [Relation] cause [Effect] Corning can produce these high-quality glass substrates at a lower cost than its competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite the second-quartile cash cost position, we expect returns to be lower in future as China's capital investment wanes.",
    "output": "[Cause] China's capital investment wanes [Relation] cause [Effect] returns to be lower in future",
    "gold": "[Cause]  China's capital investment wanes [Relation] cause [Effect] returns to be lower in future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Nice's expanded portfolio is much better positioned for more sustainable long-term growth now that it incorporates analytics and inContact.",
    "output": "[Cause] Nice's expanded portfolio is much better positioned for more sustainable long-term growth now that it incorporates analytics and inContact [Relation] enable [Effect] it incorporates analytics and inContact",
    "gold": "[Cause] Nice's expanded portfolio [Relation] enable [Effect] more sustainable long-term growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This was the accidental byproduct of the combination of a coal price rally and China's flawed coal power pricing mechanism: The government-controlled on-grid tariffs are usually slow to respond to coal price movements, which has historically caused coal-fired generators to earn below their cost of capital.",
    "output": "[Cause] The government-controlled on-grid tariffs are usually slow to respond to coal price movements [Relation] cause [Effect] coal-fired generators to earn below their cost of capital",
    "gold": "[Cause] The government-controlled on-grid tariffs are usually slow to respond to coal price movements [Relation] cause [Effect]  coal-fired generators to earn below their cost of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also believe that consumer attitudes regarding services have evolved in recent years because of the proliferation of subscription-based platforms across other consumer categories and new technology innovations that have become integral across several consumer needs.",
    "output": "[Cause] the proliferation of subscription-based platforms across other consumer categories and new technology innovations that have become integral across several consumer needs [Relation] cause [Effect] consumer attitudes regarding services have evolved in recent years",
    "gold": "[Cause] the proliferation of subscription-based platforms across other consumer categories and new technology innovations that have become integral across several consumer needs [Relation] cause [Effect] consumer attitudes regarding services have evolved in recent years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, overbuilding can lead to lower occupancy and room rates, which would then have an impact on growth and profitability.",
    "output": "[Cause] overbuilding [Relation] cause [Effect] lower occupancy and room rates",
    "gold": "[Cause] overbuilding [Relation] cause [Effect] lower occupancy and room rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, overbuilding can lead to lower occupancy and room rates, which would then have an impact on growth and profitability.",
    "output": "[Cause] lower occupancy and room rates [Relation] cause [Effect] have an impact on growth and profitability",
    "gold": "[Cause] lower occupancy and room rates [Relation] enable [Effect] have an impact on growth and profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "New pipelines are typically constructed to allow shippers or producers to take advantage of large price differentials (basis differentials) between two market hubs because supply and demand is out of balance in both markets.",
    "output": "[Cause] supply and demand is out of balance in both markets [Relation] cause [Effect] New pipelines are typically constructed to allow shippers or producers to take advantage of large price differentials (basis differentials) between two market hubs",
    "gold": "[Cause] supply and demand is out of balance in both markets [Relation] cause [Effect] New pipelines are typically constructed to allow shippers or producers to take advantage of large price differentials (basis differentials) between two market hubs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "United does not hedge fuel costs and would likely face substantial margin pressures in the event of an oil price spike.",
    "output": "[Cause] United does not hedge fuel costs [Relation] cause [Effect] substantial margin pressures in the event of an oil price spike",
    "gold": "[Cause] United does not hedge fuel costs [Relation] cause [Effect] substantial margin pressures in the event of an oil price spike",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Baidu's margins to be under pressure in the near term as the AI businesses and iQiyi have lower margins than the search business.",
    "output": "[Cause] the AI businesses and iQiyi have lower margins than the search business [Relation] cause [Effect] Baidu's margins to be under pressure in the near term",
    "gold": "[Cause] the AI businesses and iQiyi have lower margins than the search business [Relation] cause [Effect] Baidu's margins to be under pressure in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, later in the decade banks and broker/dealers were given the ability to hold less capital against high-quality bonds if the bonds had received a rating from an NRSRO.",
    "output": "[Cause] the bonds had received a rating from an NRSRO [Relation] cause [Effect] later in the decade banks and broker/dealers were given the ability to hold less capital against high-quality bonds",
    "gold": "[Cause] the bonds had received a rating from an NRSRO [Relation] cause [Effect]  later in the decade banks and broker/dealers were given the ability to hold less capital against high-quality bonds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Otis' high retention rates in service in developed markets allow the business to still be cash generative even when new installations (more prone to fluctuations) are hurt by slowdowns, giving stability to the business.",
    "output": "[Cause] Otis' high retention rates in service in developed markets [Relation] enable [Effect] the business to still be cash generative",
    "gold": "[Cause] Otis' high retention rates in service in developed markets [Relation] enable [Effect]  the business to still be cash generative",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Otis' high retention rates in service in developed markets allow the business to still be cash generative even when new installations (more prone to fluctuations) are hurt by slowdowns, giving stability to the business.",
    "output": "[Cause] Otis' high retention rates in service in developed markets [Relation] enable [Effect] the business to still be cash generative even when new installations (more prone to fluctuations) are hurt by slowdowns, giving stability to the business",
    "gold": "[Cause] slowdowns [Relation] prevent [Effect]  new installations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Otis' high retention rates in service in developed markets allow the business to still be cash generative even when new installations (more prone to fluctuations) are hurt by slowdowns, giving stability to the business.",
    "output": "[Cause] Otis' high retention rates in service in developed markets [Relation] enable [Effect] the business to still be cash generative",
    "gold": "[Cause] stability [Relation] cause [Effect] installations (more prone to fluctuations) are hurt by slowdowns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, if the financial health of key program funding sources (the federal government and the states) falter, Centene may face some Medicaid rate pressure in subsequent years.",
    "output": "[Cause] the financial health of key program funding sources (the federal government and the states) falter [Relation] cause [Effect] Centene may face some Medicaid rate pressure in subsequent years",
    "gold": "[Cause]  the financial health of key program funding sources (the federal government and the states) falter [Relation] cause [Effect] Centene may face some Medicaid rate pressure in subsequent years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although global travel has gradual improved from mid-April in 2020, COVID-19 has materially affected demand in 2020 and into 2021. As a result, Expedia's 2020 revenue dropped 57%, and we expect its 2021 sales to be just 70% of 2019 levels (versus about 74% prior).",
    "output": "[Cause] Although global travel has gradual improved from mid-April in 2020, COVID-19 has materially affected demand in 2020 and into 2021 [Relation] cause [Effect] Expedia's 2020 revenue dropped 57%, and we expect its 2021 sales to be just 70% of 2019 levels (versus about 74% prior)",
    "gold": "[Cause] Although global travel has gradual improved from mid-April in 2020, COVID-19 has materially affected demand in 2020 and into 2021 [Relation] cause [Effect]  Expedia's 2020 revenue dropped 57%, and we expect its 2021 sales to be just 70% of 2019 levels (versus about 74% prior)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "TE can also better enforce this sticky customer relationship by paying regular maintenance visits to the OEM during production and by offering other services.",
    "output": "[Cause] paying regular maintenance visits to the OEM during production and by offering other services [Relation] enable [Effect] TE can also better enforce this sticky customer relationship",
    "gold": "[Cause]  paying regular maintenance visits to the OEM during production and by offering other services [Relation] enable [Effect] TE can also better enforce this sticky customer relationship",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It is our view that systems with a high cost of failure bear steep switching costs, especially when the components in question represent a relatively small portion of the end product's overall bill of materials.",
    "output": "[Cause] the components in question represent a relatively small portion of the end product's overall bill of materials [Relation] cause [Effect] systems with a high cost of failure bear steep switching costs",
    "gold": "[Cause] the components in question represent a relatively small portion of the end product's overall bill of materials [Relation] enable [Effect] systems with a high cost of failure bear steep switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While it is harder to gain carriage for a brand-new network as most distributors have enough channels, Viacom can rebrand one of its existing channels in order to quickly gain carriage as the firm did with Paramount Channel, which formerly operated as Spike Network. As a result, the company owns more than 310 channels across 180 countries, broadcasting in 46 languages with over 4.4 billion cumulative subscribers.",
    "output": "[Cause] While it is harder to gain carriage for a brand-new network as most distributors have enough channels, Viacom can rebrand one of its existing channels in order to quickly gain carriage as the firm did with Paramount Channel, which formerly operated as Spike Network [Relation] cause [Effect] the company owns more than 310 channels across 180 countries, broadcasting in 46 languages with over 4.4 billion cumulative subscribers",
    "gold": "[Cause] While it is harder to gain carriage for a brand-new network as most distributors have enough channels, Viacom can rebrand one of its existing channels in order to quickly gain carriage as the firm did with Paramount Channel, which formerly operated as Spike Network [Relation] cause [Effect] the company owns more than 310 channels across 180 countries, broadcasting in 46 languages with over 4.4 billion cumulative subscribers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "An asset manager may prefer to be indexed against the Russell 1000, but if asset owners and consultants prefer the S&amp;P 500, the asset manager would risk outflows.",
    "output": "[Cause] asset owners and consultants prefer the S&amp;P 500 [Relation] cause [Effect] the asset manager would risk outflows",
    "gold": "[Cause] asset owners and consultants prefer the S&amp;P 500 [Relation] cause [Effect] the asset manager would risk outflows",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And in January 2020, Parsley completed the acquisition of Jagged Peak Energy, a Delaware Basin operator, in an all-stock transaction for $2.3 billion. These transactions have set up the firm with enough Permian acreage to support multiple decades of potential drilling, based on the current run rate.",
    "output": "[Cause] Parsley completed the acquisition of Jagged Peak Energy, a Delaware Basin operator, in an all-stock transaction for $2.3 billion [Relation] enable [Effect] set up the firm with enough Permian acreage to support multiple decades of potential drilling, based on the current run rate",
    "gold": "[Cause] Parsley completed the acquisition of Jagged Peak Energy, a Delaware Basin operator, in an all-stock transaction for $2.3 billion [Relation] cause [Effect]  set up the firm with enough Permian acreage to support multiple decades of potential drilling, based on the current run rate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, we expect software integrity, which is currently margin dilutive, to be a key driver as the business scales and becomes more mature over time.",
    "output": "[Cause] the business scales and becomes more mature over time [Relation] cause [Effect] software integrity, which is currently margin dilutive, to be a key driver",
    "gold": "[Cause] the business scales and becomes more mature over time [Relation] cause [Effect] software integrity, which is currently margin dilutive, to be a key driver",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Best interest standards for advisors could change the products that financial advisors recommend and how they are compensated, which leads to material changes in the business models of wealth management firms.",
    "output": "[Cause] Best interest standards for advisors could change the products that financial advisors recommend and how they are compensated [Relation] cause [Effect] material changes in the business models of wealth management firms",
    "gold": "[Cause] Best interest standards for advisors [Relation] enable [Effect] change the products that financial advisors recommend and how they are compensated",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Omnichannel operations are absolutely essential for modern retail and manufacturer operations because they enable consumers to make purchases based on whatever means are most amenable to them.",
    "output": "[Cause] they enable consumers to make purchases based on whatever means are most amenable to them [Relation] cause [Effect] Omnichannel operations are absolutely essential for modern retail and manufacturer operations",
    "gold": "[Cause] they enable consumers to make purchases based on whatever means are most amenable to them [Relation] cause [Effect] Omnichannel operations are absolutely essential for modern retail and manufacturer operations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The high cost of failure associated with switching away from Deere's products increases the likelihood of missing valuable time to plant and harvest crops, ultimately cutting into a farmer's profitability.",
    "output": "[Cause] The high cost of failure associated with switching away from Deere's products [Relation] cause [Effect] cutting into a farmer's profitability",
    "gold": "[Cause] The high cost of failure associated with switching away from Deere's products [Relation] cause [Effect] cutting into a farmer's profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Alternatively, the Bath &amp; Body Works segment (40% of revenue) has seen the ability to connect with its consumers remain, supporting brand relevance.",
    "output": "[Cause] the Bath &amp; Body Works segment (40% of revenue) has seen the ability to connect with its consumers remain [Relation] enable [Effect] supporting brand relevance",
    "gold": "[Cause] the Bath &amp; Body Works segment (40% of revenue) has seen the ability to connect with its consumers remain [Relation] enable [Effect] supporting brand relevance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As WW becomes a more comprehensive health and wellness solution (including attracting consumers outside of its core membership platforms and adoption of licensed products, travel/leisure, technology and B2B partnerships), we believe it can sustain 3%-4% top-line growth from 2021-24.",
    "output": "[Cause] WW becomes a more comprehensive health and wellness solution [Relation] enable [Effect] it can sustain 3%-4% top-line growth from 2021-24",
    "gold": "[Cause] WW becomes a more comprehensive health and wellness solution [Relation] cause [Effect] it can sustain 3%-4% top-line growth from 2021-24",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Urban Outfitters lacks the differentiated product and brand strength to maintain premium pricing in this extremely competitive market.",
    "output": "[Cause] Urban Outfitters lacks the differentiated product and brand strength [Relation] prevent [Effect] maintain premium pricing in this extremely competitive market",
    "gold": "[Cause] Urban Outfitters lacks the differentiated product and brand strength [Relation] prevent [Effect] maintain premium pricing in this extremely competitive market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "West typically maintains core component pricing growth of 1%-2% to build strong relationships with customers, and then ultimately encourages customers to upgrade to higher value services.",
    "output": "[Cause] West typically maintains core component pricing growth of 1%-2% [Relation] enable [Effect] build strong relationships with customers",
    "gold": "[Cause] West typically maintains core component pricing growth of 1%-2% [Relation] enable [Effect] build strong relationships with customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "West typically maintains core component pricing growth of 1%-2% to build strong relationships with customers, and then ultimately encourages customers to upgrade to higher value services.",
    "output": "[Cause] West typically maintains core component pricing growth of 1%-2% [Relation] enable [Effect] build strong relationships with customers",
    "gold": "[Cause] build strong relationships with customers [Relation] enable [Effect] ultimately encourages customers to upgrade to higher value services",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The benefits of Fastenal's vending, inventory management, and on-site services are twofold: Not only do these services drive incremental revenue, they also embed Fastenal in its customers' procurement processes, which supports higher retention rates and pricing power.",
    "output": "[Cause] These benefits of Fastenal's vending, inventory management, and on-site services are twofold [Relation] enable [Effect] not only do these services drive incremental revenue, they also embed Fastenal in its customers' procurement processes, which supports higher retention rates and pricing power",
    "gold": "[Cause] The benefits of Fastenal's vending, inventory management, and on-site services are twofold [Relation] enable [Effect] Not only do these services drive incremental revenue, they also embed Fastenal in its customers' procurement processes, which supports higher retention rates and pricing power.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Interest-rate risk is a potential problem as rates can affect the desire to use financing and hence the overall demand for equipment.",
    "output": "[Cause] rates can affect the desire to use financing and hence the overall demand for equipment [Relation] cause [Effect] Interest-rate risk is a potential problem",
    "gold": "[Cause] rates can affect the desire to use financing and hence the overall demand for equipment [Relation] cause [Effect] Interest-rate risk is a potential problem",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're increasing our fair value estimate for Smucker to $125 from $120, as fiscal 2021 results and fiscal 2022 guidance exceeded our expectations.",
    "output": "[Cause] fiscal 2021 results and fiscal 2022 guidance exceeded our expectations [Relation] cause [Effect] We're increasing our fair value estimate for Smucker to $125 from $120",
    "gold": "[Cause]  fiscal 2021 results and fiscal 2022 guidance exceeded our expectations [Relation] cause [Effect] We're increasing our fair value estimate for Smucker to $125 from $120",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And any significant changes to regulatory standards would open the door for new competitors if they could demonstrate expertise with new regulatory regimes.",
    "output": "[Cause] they could demonstrate expertise with new regulatory regimes [Relation] enable [Effect] any significant changes to regulatory standards would open the door for new competitors",
    "gold": "[Cause] any significant changes to regulatory standards [Relation] enable [Effect] open the door for new competitors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Various geographies have banned or limited the installation of Huawei equipment, and the risk exists that China, the largest market for base stations, could impose restrictions on nondomestic suppliers.",
    "output": "[Cause] Various geographies have banned or limited the installation of Huawei equipment [Relation] cause [Effect] China, the largest market for base stations, could impose restrictions on nondomestic suppliers",
    "gold": "[Cause] Various geographies have banned or limited the installation of Huawei equipment [Relation] cause [Effect] China, the largest market for base stations, could impose restrictions on nondomestic suppliers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "COVID-19 presents a material near-term demand risk, but InterContinental has sufficient liquidity to operate at near zero revenue through 2021.",
    "output": "[Cause] COVID-19 presents a material near-term demand risk [Relation] cause [Effect] InterContinental has sufficient liquidity to operate at near zero revenue through 2021",
    "gold": "[Cause] COVID-19 presents a material near-term demand risk [Relation] cause [Effect] InterContinental has sufficient liquidity to operate at near zero revenue through 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Better pricing and cost efficiencies drive new engine delivery break-even from a current loss of GBP 1.2 million per engine; recovery of high-margin service revenue; and annual cost benefits of GBP 1.3 billion derived from the restructuring program all support margin expansion.",
    "output": "[Cause] Better pricing and cost efficiencies [Relation] enable [Effect] new engine delivery break-even from a current loss of GBP 1.2 million per engine; recovery of high-margin service revenue; and annual cost benefits of GBP 1.3 billion derived from the restructuring program all support margin expansion",
    "gold": "[Cause] Better pricing and cost efficiencies [Relation] enable [Effect] new engine delivery break-even from a current loss of GBP 1.2 million per engine; recovery of high-margin service revenue; and annual cost benefits of GBP 1.3 billion derived from the restructuring program all support margin expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We utilzied 2019 as a reference point, as Carnival only operated sailings through March 2020, rendering the 2020 metric unusable.",
    "output": "[Cause] Carnival only operated sailings through March 2020 [Relation] cause [Effect] the 2020 metric unusable",
    "gold": "[Cause]  Carnival only operated sailings through March 2020 [Relation] cause [Effect] the 2020 metric unusable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Note we still see elevated risk to our 2021 and 2022 model assumptions given pandemic-related economic uncertainty at the moment.",
    "output": "[Cause] pandemic-related economic uncertainty at the moment [Relation] cause [Effect] elevated risk to our 2021 and 2022 model assumptions",
    "gold": "[Cause] pandemic-related economic uncertainty at the moment [Relation] cause [Effect] elevated risk to our 2021 and 2022 model assumptions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Discover is well capitalized with strong reserves, and it is unlikely that higher credit costs will place meaningful stress on its balance sheet.",
    "output": "[Cause] Discover is well capitalized with strong reserves [Relation] prevent [Effect] higher credit costs will place meaningful stress on its balance sheet",
    "gold": "[Cause] well capitalized with strong reserves, and it is unlikely that higher credit costs [Relation] cause [Effect] place meaningful stress on its balance sheet",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company is somewhat insulated from the rise of a new competitor but any significant changes to the economy or market dynamics could pose a risk.",
    "output": "[Cause] any significant changes to the economy or market dynamics [Relation] cause [Effect] pose a risk",
    "gold": "[Cause] any significant changes to the economy or market dynamics [Relation] enable [Effect]  pose a risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, WPP's reputation and brand allow it to compete mainly with the other Big Five for the larger accounts.",
    "output": "[Cause] WPP's reputation and brand [Relation] enable [Effect] it to compete mainly with the other Big Five for the larger accounts",
    "gold": "[Cause] WPP's reputation and brand [Relation] enable [Effect] it to compete mainly with the other Big Five for the larger accounts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Twilio continues to enhance the customer experience and provide an expanding range of services in a greenfield space, we believe the company is well poised for sustained robust growth, as well as increasing switching costs.",
    "output": "[Cause] Twilio continues to enhance the customer experience and provide an expanding range of services in a greenfield space [Relation] cause [Effect] the company is well poised for sustained robust growth, as well as increasing switching costs",
    "gold": "[Cause] Twilio continues to enhance the customer experience and provide an expanding range of services in a greenfield space [Relation] cause [Effect] the company is well poised for sustained robust growth, as well as increasing switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the human resources side, Aon's exposure is primarily to the health of the employment market and general macroeconomic conditions, as any headwinds in these areas could limit clients' willingness to pay for Aon's services.",
    "output": "[Cause] any headwinds in these areas could limit clients' willingness to pay for Aon's services [Relation] cause [Effect] Aon's exposure is primarily to the health of the employment market and general macroeconomic conditions",
    "gold": "[Cause] any headwinds in |  the health of the employment market and general macroeconomic conditions [Relation] prevent [Effect] clients' willingness to pay for Aon's services",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Not having a full portfolio could force customers to either opt for a complete solution provider or choose the best-in-breeds for their individual needs.",
    "output": "[Cause] Not having a full portfolio [Relation] cause [Effect] customers to either opt for a complete solution provider or choose the best-in-breeds for their individual needs",
    "gold": "[Cause] Not having a full portfolio [Relation] enable [Effect] customers to either opt for a complete solution provider or choose the best-in-breeds for their individual needs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project the adjusted operating margin to rise about 100 basis points over the next five years, as increased competition that we think Akamai faces will be offset by a higher portion of security sales, which we believe bring higher gross margins.",
    "output": "[Cause] increased competition that we think Akamai faces will be offset by a higher portion of security sales [Relation] cause [Effect] the adjusted operating margin to rise about 100 basis points over the next five years",
    "gold": "[Cause] increased competition that we think Akamai faces will be offset by a higher portion of security sales [Relation] cause [Effect] the adjusted operating margin to rise about 100 basis points over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project the adjusted operating margin to rise about 100 basis points over the next five years, as increased competition that we think Akamai faces will be offset by a higher portion of security sales, which we believe bring higher gross margins.",
    "output": "[Cause] increased competition that we think Akamai faces will be offset by a higher portion of security sales [Relation] cause [Effect] the adjusted operating margin to rise about 100 basis points over the next five years",
    "gold": "[Cause] increased competition that we think Akamai faces will be offset by a higher portion of security sales [Relation] enable [Effect] higher gross margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over the years, the firm has moved up-market, expanding the upper limit of its customer range from 2,000 employees to 5,000 employees as Paycom invests to build out a well-rounded platform.",
    "output": "[Cause] Paycom invests to build out a well-rounded platform [Relation] cause [Effect] the firm has moved up-market, expanding the upper limit of its customer range from 2,000 employees to 5,000 employees",
    "gold": "[Cause] Paycom invests to build out a well-rounded platform [Relation] enable [Effect]  the firm has moved up-market, expanding the upper limit of its customer range from 2,000 employees to 5,000 employees",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, with craft's rise, there has been increased demand and attendant pricing for hops that don't boast abundant supply.",
    "output": "[Cause] craft's rise [Relation] cause [Effect] increased demand and attendant pricing for hops that don't boast abundant supply",
    "gold": "[Cause] craft's rise [Relation] enable [Effect]  increased demand and attendant pricing for hops that don't boast abundant supply",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "M&T Bank's low cost deposit base gives the company a deposit cost advantage, and the bank's strong relationships with customers result in switching costs.",
    "output": "[Cause] M&T Bank's low cost deposit base [Relation] enable [Effect] the company a deposit cost advantage",
    "gold": "[Cause] M&T Bank's low cost deposit base [Relation] enable [Effect] the company a deposit cost advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our initial expectations for a drop-off in production and sales in 2020 due to the coronavirus have not played out.",
    "output": "[Cause] the coronavirus have not played out [Relation] cause [Effect] Our initial expectations for a drop-off in production and sales in 2020",
    "gold": "[Cause] the coronavirus have not played out [Relation] cause [Effect] Our initial expectations for a drop-off in production and sales in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As such, the company has developed tools--embedded in its Aladdin enterprise system--to assess both security- and portfolio-level risks, which it not only uses internally but also offers to external clients for a fee. This has also enhanced the firm's ability to roll out new products and to combine existing products to create outcome-based investment offerings.",
    "output": "[Cause] the company has developed tools--embedded in its Aladdin enterprise system--to assess both security- and portfolio-level risks, which it not only uses internally but also offers to external clients for a fee [Relation] enable [Effect] enhanced the firm's ability to roll out new products and to combine existing products to create outcome-based investment offerings",
    "gold": "[Cause] the company has developed tools--embedded in its Aladdin enterprise system--to assess both security- and portfolio-level risks, which it not only uses internally but also offers to external clients for a fee [Relation] enable [Effect]  enhanced the firm's ability to roll out new products and to combine existing products to create outcome-based investment offerings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ferguson's RMI exposure should support future revenue stability and margin expansion opportunities as project work in the repair and remodel market is typically less cyclical with higher profit margins compared with new construction projects (RMI projects are usually smaller and non-discretionary).",
    "output": "[Cause] project work in the repair and remodel market is typically less cyclical with higher profit margins compared with new construction projects [Relation] cause [Effect] Ferguson's RMI exposure should support future revenue stability and margin expansion opportunities",
    "gold": "[Cause] project work in the repair and remodel market is typically less cyclical with higher profit margins compared with new construction projects [Relation] cause [Effect] Ferguson's RMI exposure should support future revenue stability and margin expansion opportunities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Estimated net inflows of $9.8 billion during the December quarter were driven primarily by fixed-income products, with the firm's equity portfolio being less of a drag on flows than it has been in past periods. This should help improve Franklin's annual organic growth profile, which we expect to be in a negative 1%-3% range over the next five years (compared with negative 3%-5% previously).",
    "output": "[Cause] Estimated net inflows of $9.8 billion during the December quarter were driven primarily by fixed-income products, with the firm's equity portfolio being less of a drag on flows than it has been in past periods [Relation] enable [Effect] help improve Franklin's annual organic growth profile, which we expect to be in a negative 1%-3% range over the next five years (compared with negative 3%-5% previously)",
    "gold": "[Cause] Estimated net inflows of $9.8 billion during the December quarter were driven primarily by fixed-income products, with the firm's equity portfolio being less of a drag on flows than it has been in past periods [Relation] enable [Effect]  help improve Franklin's annual organic growth profile, which we expect to be in a negative 1%-3% range over the next five years (compared with negative 3%-5% previously)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While China's economy has recently slowed, causing copper demand and prices to decline, an increase in aggregate demand for copper worldwide should alleviate Chilean dependence on Chinese demand.",
    "output": "[Cause] China's economy has recently slowed [Relation] cause [Effect] copper demand and prices to decline",
    "gold": "[Cause]  China's economy has recently slowed [Relation] cause [Effect] copper demand and prices to decline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While China's economy has recently slowed, causing copper demand and prices to decline, an increase in aggregate demand for copper worldwide should alleviate Chilean dependence on Chinese demand.",
    "output": "[Cause] an increase in aggregate demand for copper worldwide [Relation] enable [Effect] alleviate Chilean dependence on Chinese demand",
    "gold": "[Cause]  an increase in aggregate demand for copper worldwide [Relation] cause [Effect]  alleviate Chilean dependence on Chinese demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Risks surrounding additional waves of COVID-19 cases and elongated time until an effective treatment and vaccine are globally available remain, which could delay our forecast recovery in demand.",
    "output": "[Cause] Risks surrounding additional waves of COVID-19 cases and elongated time until an effective treatment and vaccine are globally available remain [Relation] prevent [Effect] delay our forecast recovery in demand",
    "gold": "[Cause] Risks surrounding additional waves of COVID-19 cases and elongated time until an effective treatment and vaccine are globally available remain [Relation] enable [Effect] delay our forecast recovery in demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The more customers that take advantage of this access by anonymously submitting their own data to the collection, the greater the network effect that benefits all parties involved.",
    "output": "[Cause] The more customers that take advantage of this access by anonymously submitting their own data to the collection [Relation] cause [Effect] the greater the network effect that benefits all parties involved",
    "gold": "[Cause] The more customers that take advantage of this access by anonymously submitting their own data to the collection [Relation] cause [Effect]  the greater the network effect that benefits all parties involved",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A corollary of Coke's refranchising is that it has to work doubly hard to ensure its system remains properly incentivized.",
    "output": "[Cause] it has to work doubly hard [Relation] enable [Effect] ensure its system remains properly incentivized",
    "gold": "[Cause] A corollary of Coke's refranchising [Relation] enable [Effect] it has to work doubly hard to ensure its system remains properly incentivized",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think it has strong sales momentum in the second quarter as well. Thus, for 2021, we have raised our sales growth estimate to 33% from 27% and our adjusted operating margin estimate to 21% from 20%, resulting in an adjusted EPS forecast that rises to $6.92 from $6.40.",
    "output": "[Cause] it has strong sales momentum in the second quarter as well [Relation] cause [Effect] for 2021, we have raised our sales growth estimate to 33% from 27% and our adjusted operating margin estimate to 21% from 20%, resulting in an adjusted EPS forecast that rises to $6.92 from $6.40",
    "gold": "[Cause]  it has strong sales momentum in the second quarter as well [Relation] cause [Effect] for 2021, we have raised our sales growth estimate to 33% from 27% and our adjusted operating margin estimate to 21% from 20%, resulting in an adjusted EPS forecast that rises to $6.92 from $6.40",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since PPD was acquired by private equity groups in 2011, it has acquired several service providers that fortify its portfolio of clinical trial services, including providers of site networks, data assets, patient enrollment solutions, and real-world evidence solutions.",
    "output": "[Cause] PPD was acquired by private equity groups in 2011 [Relation] enable [Effect] it has acquired several service providers that fortify its portfolio of clinical trial services, including providers of site networks, data assets, patient enrollment solutions, and real-world evidence solutions",
    "gold": "[Cause] it has acquired several service providers [Relation] cause [Effect] fortify its portfolio of clinical trial services",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As Exelon's regulated utilities generate a greater share of earnings, shareholders' returns will be more exposed to state and federal regulatory risk.",
    "output": "[Cause] Exelon's regulated utilities generate a greater share of earnings [Relation] cause [Effect] shareholders' returns will be more exposed to state and federal regulatory risk",
    "gold": "[Cause] Exelon's regulated utilities generate a greater share of earnings [Relation] cause [Effect]  shareholders' returns will be more exposed to state and federal regulatory risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Spodumene oversupply from new mines in Western Australia has caused spodumene prices to fall, and lowered lithium producer costs for marginal-cost spodumene converters.",
    "output": "[Cause] Spodumene oversupply from new mines in Western Australia [Relation] cause [Effect] spodumene prices to fall, and lowered lithium producer costs for marginal-cost spodumene converters",
    "gold": "[Cause] Spodumene oversupply from new mines in Western Australia [Relation] cause [Effect] spodumene prices to fall, and lowered lithium producer costs for marginal-cost spodumene converters",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Local, regional, and global players face low barriers to entry in placing workers in industrial and construction positions given the lower skill requirement of manufacturing jobs.",
    "output": "[Cause] the lower skill requirement of manufacturing jobs [Relation] cause [Effect] Local, regional, and global players face low barriers to entry in placing workers in industrial and construction positions",
    "gold": "[Cause] the lower skill requirement of manufacturing jobs [Relation] cause [Effect] Local, regional, and global players face low barriers to entry in placing workers in industrial and construction positions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the highly fragmented farm retail industry, Nutrien is pursuing an acquisition strategy to expand its retail store base, which should improve bargaining power with suppliers.",
    "output": "[Cause] Nutrien is pursuing an acquisition strategy [Relation] enable [Effect] expand its retail store base",
    "gold": "[Cause] Nutrien is pursuing an acquisition strategy [Relation] enable [Effect] expand its retail store base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the highly fragmented farm retail industry, Nutrien is pursuing an acquisition strategy to expand its retail store base, which should improve bargaining power with suppliers.",
    "output": "[Cause] Nutrien is pursuing an acquisition strategy [Relation] enable [Effect] improve bargaining power with suppliers",
    "gold": "[Cause] Nutrien is pursuing an acquisition strategy [Relation] cause [Effect] improve bargaining power with suppliers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "All three firms are likely to compete in cardiomyopathy in the long run, as Ionis and Alnylam are testing next-generation versions of their drugs in phase 3 trials.",
    "output": "[Cause] Ionis and Alnylam are testing next-generation versions of their drugs in phase 3 trials [Relation] cause [Effect] All three firms are likely to compete in cardiomyopathy in the long run",
    "gold": "[Cause] Ionis and Alnylam are testing next-generation versions of their drugs in phase 3 trials [Relation] cause [Effect] All three firms are likely to compete in cardiomyopathy in the long run",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The larger the base of buyers to which an investment bank has access--investment funds, banks, and insurance companies--the more attractive it is to sellers, as it makes it more likely that an asset sale will be completed for a fair price.",
    "output": "[Cause] it makes it more likely that an asset sale will be completed for a fair price [Relation] cause [Effect] The larger the base of buyers to which an investment bank has access--investment funds, banks, and insurance companies--the more attractive it is to sellers",
    "gold": "[Cause] it makes it more likely that an asset sale will be completed for a fair price [Relation] cause [Effect] The larger the base of buyers to which an investment bank has access--investment funds, banks, and insurance companies--the more attractive it is to sellers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cigarette sales are in secular decline across most countries, and so we expect Celanese's acetate tow sales will slightly decline over the long term.",
    "output": "[Cause] Cigarette sales are in secular decline across most countries [Relation] cause [Effect] we expect Celanese's acetate tow sales will slightly decline over the long term",
    "gold": "[Cause] Cigarette sales are in secular decline across most countries [Relation] cause [Effect] we expect Celanese's acetate tow sales will slightly decline over the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, BP strategic plans call for a relatively rapid move away from hydrocarbons, which should insulate it to a greater degree than peers from any carbon tax.",
    "output": "[Cause] BP strategic plans call for a relatively rapid move away from hydrocarbons [Relation] enable [Effect] insulate it to a greater degree than peers from any carbon tax",
    "gold": "[Cause] BP strategic plans call for a relatively rapid move away from hydrocarbons [Relation] enable [Effect] insulate it to a greater degree than peers from any carbon tax",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Efforts to add coolers and boost its health and beauty offerings should help make Dollar General locations more attractive by concentrating a variety of essentials in a conveniently located store; about 75% of Americans live within 5 miles of a Dollar General.",
    "output": "[Cause] Efforts to add coolers and boost its health and beauty offerings [Relation] enable [Effect] Dollar General locations more attractive",
    "gold": "[Cause] Efforts to add coolers and boost its health and beauty offerings [Relation] enable [Effect] Dollar General locations more attractive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Efforts to add coolers and boost its health and beauty offerings should help make Dollar General locations more attractive by concentrating a variety of essentials in a conveniently located store; about 75% of Americans live within 5 miles of a Dollar General.",
    "output": "[Cause] Efforts to add coolers and boost its health and beauty offerings [Relation] enable [Effect] Dollar General locations more attractive",
    "gold": "[Cause] concentrating a variety of essentials in a conveniently located store [Relation] enable [Effect] Dollar General locations more attractive",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Second, Mattel faces serious risk from litigation regarding product recalls or poor manufacturing of its products, which could be costly.",
    "output": "[Cause] product recalls or poor manufacturing of its products [Relation] cause [Effect] Mattel faces serious risk from litigation",
    "gold": "[Cause] product recalls or poor manufacturing of its products [Relation] cause [Effect]  Mattel faces serious risk from litigation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Operating deleverage and mid-single-digit increases in raw material costs may force the EBIT margin down slightly below 30% this year, though we expect 2021 to be a better year, with favourable input costs locked in and operating leverage from the rebound.",
    "output": "[Cause] Operating deleverage and mid-single-digit increases in raw material costs [Relation] cause [Effect] force the EBIT margin down slightly below 30% this year",
    "gold": "[Cause] Operating deleverage and mid-single-digit increases in raw material costs [Relation] enable [Effect] force the EBIT margin down slightly below 30% this year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Circuit protectors, like fuses, breakers, thyristors, and varistors all collectively help control the flow of electrical energy across a system.",
    "output": "[Cause] Circuit protectors, like fuses, breakers, thyristors, and varistors [Relation] enable [Effect] control the flow of electrical energy across a system",
    "gold": "[Cause] Circuit protectors, like fuses, breakers, thyristors, and varistors [Relation] enable [Effect] control the flow of electrical energy across a system",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The possibility of more stringent regulations in the gaming sector is very high, and we think the odds of lowering the duration of casino licenses to less than 20 years and increasing gaming taxes should not be ignored.",
    "output": "[Cause] The possibility of more stringent regulations in the gaming sector is very high [Relation] cause [Effect] the odds of lowering the duration of casino licenses to less than 20 years and increasing gaming taxes should not be ignored",
    "gold": "[Cause] The possibility of more stringent regulations in the gaming sector is very high [Relation] cause [Effect] the odds of lowering the duration of casino licenses to less than 20 years and increasing gaming taxes should not be ignored",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect SS&C's asset-based fees to benefit from rising equity markets and are currently forecasting 2021 adjusted EPS of $4.40.",
    "output": "[Cause] rising equity markets [Relation] enable [Effect] SS&C's asset-based fees",
    "gold": "[Cause] rising equity markets [Relation] cause [Effect] SS&C's asset-based fees",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To a lesser extent, we also see cost advantage at play in the form of economies of scope with Hubbell's broad portfolio of products, which enables cost-efficient customer service and secures favorable pricing with its customers.",
    "output": "[Cause] cost advantage at play in the form of economies of scope with Hubbell's broad portfolio of products [Relation] enable [Effect] cost-efficient customer service and secures favorable pricing with its customers",
    "gold": "[Cause] cost advantage at play in the form of economies of scope with Hubbell's broad portfolio of products [Relation] enable [Effect]  cost-efficient customer service and secures favorable pricing with its customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Run-ins with the FDA represent the most pressing risk in this industry, as infusion pumps have been prone to quality concerns and frequently subject to FDA recalls and ship holds.",
    "output": "[Cause] infusion pumps have been prone to quality concerns and frequently subject to FDA recalls and ship holds [Relation] cause [Effect] Run-ins with the FDA represent the most pressing risk in this industry",
    "gold": "[Cause] infusion pumps have been prone to quality concerns and frequently subject to FDA recalls and ship holds [Relation] cause [Effect] Run-ins with the FDA represent the most pressing risk in this industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Oxxo, in turn, benefits from the brand equity of Coca-Cola Femsa's portfolio and the accompanying foot traffic, as it uses this traffic to increase transactions and ticket sizes across its broader product offerings.",
    "output": "[Cause] it uses this traffic to increase transactions and ticket sizes across its broader product offerings [Relation] cause [Effect] Oxxo, in turn, benefits from the brand equity of Coca-Cola Femsa's portfolio and the accompanying foot traffic",
    "gold": "[Cause] Coca-Cola Femsa's portfolio and the accompanying foot traffic [Relation] cause [Effect]  traffic to increase transactions and ticket sizes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although the pandemic presents a material demand headwind in 2020, we continue to forecast annual mid-single-digit visitation growth over the next decade, supported by China outbound travel that we expect will average high-single-digit annual growth over the next 10 years.",
    "output": "[Cause] supported by China outbound travel [Relation] enable [Effect] annual mid-single-digit visitation growth over the next decade",
    "gold": "[Cause] the pandemic presents a material demand headwind in 2020 [Relation] prevent [Effect] annual mid-single-digit visitation growth over the next decade, supported by China outbound travel that we expect will average high-single-digit annual growth over the next 10 years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, government-mandated price cuts forced operating profit to KRW 1.26 trillion in 2018 and 5G launch and marketing costs reduced this further to KRW 1.15 trillion in 2019.",
    "output": "[Cause] 5G launch and marketing costs [Relation] cause [Effect] reduced this further to KRW 1.15 trillion in 2019",
    "gold": "[Cause] 5G launch and marketing costs [Relation] enable [Effect] reduced this further to KRW 1.15 trillion in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With discretionary services set to bounce back as the pandemic recedes, Marsh & McLennan could see unusually strong growth in the near term.",
    "output": "[Cause] the pandemic recedes [Relation] cause [Effect] discretionary services set to bounce back",
    "gold": "[Cause] the pandemic recedes [Relation] cause [Effect] discretionary services set to bounce back",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With discretionary services set to bounce back as the pandemic recedes, Marsh & McLennan could see unusually strong growth in the near term.",
    "output": "[Cause] the pandemic recedes [Relation] cause [Effect] discretionary services set to bounce back",
    "gold": "[Cause] discretionary services set to bounce back [Relation] cause [Effect] Marsh & McLennan could see unusually strong growth in the near term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, we expect information services to grow at around 10% through 2029, as CoStar Real Estate manager continues its impressive growth trajectory.",
    "output": "[Cause] CoStar Real Estate manager continues its impressive growth trajectory [Relation] cause [Effect] information services to grow at around 10% through 2029",
    "gold": "[Cause] CoStar Real Estate manager continues its impressive growth trajectory [Relation] cause [Effect] information services to grow at around 10% through 2029",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, varying tastes and preferences have proved quite challenging for Kellogg as it has looked to expand abroad, particularly as cold cereal has historically failed to resonate with global consumers. As such, we think the firm will continue pursuing select acquisitions as a means to gain a greater understanding of local consumers and routes to market.",
    "output": "[Cause] varying tastes and preferences have proved quite challenging for Kellogg as it has looked to expand abroad, particularly as cold cereal has historically failed to resonate with global consumers [Relation] cause [Effect] the firm will continue pursuing select acquisitions as a means to gain a greater understanding of local consumers and routes to market",
    "gold": "[Cause] varying tastes and preferences have proved quite challenging for Kellogg as it has looked to expand abroad, particularly as cold cereal has historically failed to resonate with global consumers [Relation] cause [Effect] the firm will continue pursuing select acquisitions as a means to gain a greater understanding of local consumers and routes to market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm has also moved more aggressively into the pharmacy channel to enhance patient access and take advantage of greater volume upside.",
    "output": "[Cause] The firm has also moved more aggressively into the pharmacy channel [Relation] enable [Effect] enhance patient access and take advantage of greater volume upside",
    "gold": "[Cause] The firm has also moved more aggressively into the pharmacy channel [Relation] enable [Effect] enhance patient access and take advantage of greater volume upside",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast Toll Brothers to increase consolidated revenue at about a 4% 10-year compound annual growth rate as housing starts reach over 1.4 million units.",
    "output": "[Cause] housing starts reach over 1.4 million units [Relation] cause [Effect] Toll Brothers to increase consolidated revenue at about a 4% 10-year compound annual growth rate",
    "gold": "[Cause] housing starts reach over 1.4 million units [Relation] cause [Effect] Toll Brothers to increase consolidated revenue at about a 4% 10-year compound annual growth rate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thanks to the MRO business (Interline Brands and HD Supply), pro revenue could be less cyclical, as the maintenance side of the business can prove more consistent.",
    "output": "[Cause] the maintenance side of the business can prove more consistent [Relation] cause [Effect] pro revenue could be less cyclical",
    "gold": "[Cause] the maintenance side of the business can prove more consistent [Relation] cause [Effect] pro revenue could be less cyclical",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Predatory or discriminatory lending practices are examples of poor product governance, which can affect certain banks at times.",
    "output": "[Cause] Predatory or discriminatory lending practices [Relation] cause [Effect] affect certain banks at times",
    "gold": "[Cause] Predatory or discriminatory lending practices [Relation] cause [Effect] affect certain banks at times",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The demand for Beyond Burger has accelerated in the restaurants that first launched the products, which in our view, provides evidence of the brand's increasing demand.",
    "output": "[Cause] The demand for Beyond Burger has accelerated in the restaurants that first launched the products [Relation] enable [Effect] provides evidence of the brand's increasing demand",
    "gold": "[Cause]  the brand's increasing demand [Relation] cause [Effect] The demand for Beyond Burger has accelerated in the restaurants that first launched the products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Long term, gross margin improvement should come to fruition through input cost relief (particularly as more agave plant is harvested), positive mix shifts, and greater efficiency in its supply chain, for example at its cooperages, where modernization and automation should facilitate more productivity.",
    "output": "[Cause] input cost relief (particularly as more agave plant is harvested), positive mix shifts, and greater efficiency in its supply chain [Relation] enable [Effect] gross margin improvement should come to fruition",
    "gold": "[Cause] input cost relief (particularly as more agave plant is harvested), positive mix shifts, and greater efficiency in its supply chain [Relation] enable [Effect] gross margin improvement should come to fruition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Long term, gross margin improvement should come to fruition through input cost relief (particularly as more agave plant is harvested), positive mix shifts, and greater efficiency in its supply chain, for example at its cooperages, where modernization and automation should facilitate more productivity.",
    "output": "[Cause] modernization and automation [Relation] enable [Effect] facilitate more productivity",
    "gold": "[Cause] modernization and automation [Relation] enable [Effect] facilitate more productivity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Steris has a cost advantage because it operates sterilization plants at a very large scale, with the company having a low per-unit cost for sterilization, helping the business generate high margins.",
    "output": "[Cause] it operates sterilization plants at a very large scale [Relation] cause [Effect] Steris has a cost advantage",
    "gold": "[Cause]  it operates sterilization plants at a very large scale, with the company having a low per-unit cost for sterilization [Relation] enable [Effect] the business generate high margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe Steris has a cost advantage because it operates sterilization plants at a very large scale, with the company having a low per-unit cost for sterilization, helping the business generate high margins.",
    "output": "[Cause] it operates sterilization plants at a very large scale, with the company having a low per-unit cost for sterilization [Relation] enable [Effect] Steris has a cost advantage",
    "gold": "[Cause]  it operates sterilization plants at a very large scale, with the company having a low per-unit cost for sterilization [Relation] cause [Effect]  Steris has a cost advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In order to keep licensees inside the ecosystem, the company releases some of its technical data--including FinFET and GAA data--to intellectual property owners to entice them to base their future designs on it.",
    "output": "[Cause] the company releases some of its technical data--including FinFET and GAA data--to intellectual property owners [Relation] enable [Effect] entice them to base their future designs on it",
    "gold": "[Cause] the company releases some of its technical data--including FinFET and GAA data--to intellectual property owners [Relation] enable [Effect] keep licensees inside the ecosystem | entice them to base their future designs on it",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project that EBITDA margins for Discovery International will expand to 28% in 2025 from 26% in 2019 as revenue growth will outpace the growth in content costs and investments in the streaming service.",
    "output": "[Cause] revenue growth will outpace the growth in content costs and investments in the streaming service [Relation] cause [Effect] EBITDA margins for Discovery International will expand to 28% in 2025 from 26% in 2019",
    "gold": "[Cause] revenue growth will outpace the growth in content costs and investments in the streaming service [Relation] enable [Effect] EBITDA margins for Discovery International will expand to 28% in 2025 from 26% in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over time, Internet Content & Informationmanagement has impressively increased online traffic and consequently the network that can be accessed on its websites.",
    "output": "[Cause] Internet Content & Informationmanagement has impressively increased online traffic [Relation] cause [Effect] the network that can be accessed on its websites",
    "gold": "[Cause]  Internet Content & Informationmanagement has impressively increased online traffic [Relation] cause [Effect] the network that can be accessed on its websites",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the long run, Donaldson will have to contend with the risk of increasing electrification adoption, which could have a material impact on its engine business.",
    "output": "[Cause] Donaldson will have to contend with the risk of increasing electrification adoption [Relation] cause [Effect] have a material impact on its engine business",
    "gold": "[Cause] Donaldson will have to contend with the risk of increasing electrification adoption [Relation] cause [Effect]  have a material impact on its engine business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And given that pricing competitiveness could ensue as a result of COVID-19, at least for some time, we don't expect pricing gains to come as easily as in the past.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] pricing competitiveness could ensue",
    "gold": "[Cause]  that pricing competitiveness could ensue as a result of COVID-19 [Relation] enable [Effect] don't expect pricing gains to come as easily as in the past",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If Beyond is unable to meet demand, the firm could lose the business to competitors, particularly large, established companies entering the space.",
    "output": "[Cause] Beyond is unable to meet demand [Relation] cause [Effect] the firm could lose the business to competitors",
    "gold": "[Cause]  Beyond is unable to meet demand [Relation] cause [Effect] the firm could lose the business to competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But it still faces higher break-evens and weaker returns than producers with more exposure to the most productive parts of the play.",
    "output": "[Cause] more exposure to the most productive parts of the play [Relation] cause [Effect] higher break-evens and weaker returns than producers",
    "gold": "[Cause]  faces higher break-evens and weaker [Relation] prevent [Effect] producers with more exposure to the most productive parts of the play",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, having deeper product lines to cross-sell (with brands like Company Store offering exposure to textiles) could add incremental revenue potential, with some protection from online competitors such as Amazon, particularly in the MRO business.",
    "output": "[Cause] having deeper product lines to cross-sell [Relation] enable [Effect] incremental revenue potential",
    "gold": "[Cause] having deeper product lines to cross-sell [Relation] enable [Effect] incremental revenue potential",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, having deeper product lines to cross-sell (with brands like Company Store offering exposure to textiles) could add incremental revenue potential, with some protection from online competitors such as Amazon, particularly in the MRO business.",
    "output": "[Cause] some protection from online competitors such as Amazon [Relation] enable [Effect] incremental revenue potential",
    "gold": "[Cause] having deeper product lines to cross-sell [Relation] enable [Effect] some protection from online competitors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Enabling an innovation like high-power charging allows Amphenol to occupy a larger portion of the overall bill of materials, both through incorporating more stock-keeping units and through selling higher-tech, higher-priced SKUs—we estimate Amphenol's dollar content in an EV to double its content in an internal combustion engine.",
    "output": "[Cause] selling higher-tech, higher-priced SKUs [Relation] enable [Effect] Amphenol to occupy a larger portion of the overall bill of materials",
    "gold": "[Cause] Enabling an innovation like high-power charging [Relation] cause [Effect] Amphenol's dollar content in an EV to double its content in an internal combustion engine",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Enabling an innovation like high-power charging allows Amphenol to occupy a larger portion of the overall bill of materials, both through incorporating more stock-keeping units and through selling higher-tech, higher-priced SKUs—we estimate Amphenol's dollar content in an EV to double its content in an internal combustion engine.",
    "output": "[Cause] selling higher-tech, higher-priced SKUs [Relation] enable [Effect] Amphenol to occupy a larger portion of the overall bill of materials",
    "gold": "[Cause] Amphenol to occupy a larger portion of the overall bill of materials [Relation] cause [Effect] both through incorporating more stock-keeping units and through selling higher-tech, higher-priced SKUs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Polaris has historically generated returns on invested capital well above our weighted average cost of capital assumption (9%) and should be able to restore adjusted ROICs including goodwill to around 45% if it can avoid manufacturing missteps.",
    "output": "[Cause] Polaris has historically generated returns on invested capital well above our weighted average cost of capital assumption (9%) [Relation] enable [Effect] restore adjusted ROICs including goodwill to around 45%",
    "gold": "[Cause] avoid manufacturing missteps [Relation] enable [Effect] restore adjusted ROICs including goodwill to around 45%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Polaris has historically generated returns on invested capital well above our weighted average cost of capital assumption (9%) and should be able to restore adjusted ROICs including goodwill to around 45% if it can avoid manufacturing missteps.",
    "output": "[Cause] it can avoid manufacturing missteps [Relation] enable [Effect] restore adjusted ROICs including goodwill to around 45%",
    "gold": "[Cause] Polaris has historically generated returns on invested capital well above our weighted average cost of capital assumption [Relation] enable [Effect] restore adjusted ROICs including goodwill to around 45%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This is particularly because truckload capacity will continue to see growth constraints due in part to the stubbornly limited driver pool.",
    "output": "[Cause] the stubbornly limited driver pool [Relation] cause [Effect] truckload capacity will continue to see growth constraints",
    "gold": "[Cause] the stubbornly limited driver pool [Relation] cause [Effect] truckload capacity will continue to see growth constraints",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Advertisers could be drawn to the Pinterest platform as the number of users and, more important, content posted by the users increases.",
    "output": "[Cause] the number of users and, more important, content posted by the users increases [Relation] cause [Effect] Advertisers could be drawn to the Pinterest platform",
    "gold": "[Cause] the number of users and, more important, content posted by the users increases [Relation] cause [Effect] Advertisers could be drawn to the Pinterest platform",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the likelihood of Twitter attracting more users via content improvement and increasing focus on more live premium content will probably decline (due to significant competition on both fronts), so will the firm's access to more user data.",
    "output": "[Cause] the likelihood of Twitter attracting more users via content improvement and increasing focus on more live premium content will probably decline [Relation] cause [Effect] the firm's access to more user data",
    "gold": "[Cause]  attracting more users via content improvement and increasing focus on more live premium content [Relation] cause [Effect]  decline",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think Eversource's annual earnings growth rate could top 6% by 2025 if its planned offshore wind investments go smoothly.",
    "output": "[Cause] its planned offshore wind investments go smoothly [Relation] enable [Effect] Eversource's annual earnings growth rate could top 6% by 2025",
    "gold": "[Cause]  its planned offshore wind investments go smoothly [Relation] enable [Effect] Eversource's annual earnings growth rate could top 6% by 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, with widely-available vaccines on horizon for 2021, this could put a major dent in the diagnostics segment as demand for COVID-19 tests falls off by 2022.",
    "output": "[Cause] demand for COVID-19 tests falls off by 2022 [Relation] cause [Effect] put a major dent in the diagnostics segment",
    "gold": "[Cause] demand for COVID-19 tests falls off by 2022 [Relation] cause [Effect] put a major dent in the diagnostics segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Gas processing plants typically connect to only a single NGL fractionation plant because it is uneconomic to have multiple connections, whereas shippers often have multiple options for gas gathering and processing.",
    "output": "[Cause] it is uneconomic to have multiple connections [Relation] cause [Effect] Gas processing plants typically connect to only a single NGL fractionation plant",
    "gold": "[Cause] it is uneconomic to have multiple connections [Relation] cause [Effect] Gas processing plants typically connect to only a single NGL fractionation plant",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company relies on third parties for much of its data, and its business could be disrupted if it lost access to key data suppliers.",
    "output": "[Cause] it lost access to key data suppliers [Relation] cause [Effect] its business could be disrupted",
    "gold": "[Cause] The company relies on third parties for much of its data [Relation] cause [Effect] its business could be disrupted if it lost access to key data suppliers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "On the music publishing side, we expect slightly slower growth for the digital segment over the next five years (11.6%) than over the past five years, which leads to 7.8% average growth for the segment.",
    "output": "[Cause] slightly slower growth for the digital segment over the next five years (11.6%) than over the past five years [Relation] cause [Effect] 7.8% average growth for the segment",
    "gold": "[Cause] slightly slower growth for the digital segment over the next five years (11.6%) than over the past five years [Relation] cause [Effect] 7.8% average growth for the segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Beyond the coming recovery in investment volumes, we think CBRE is poised to experience long-term growth as it benefits from a healthy real estate services industry and takes share from smaller, more fragmented competitors.",
    "output": "[Cause] it benefits from a healthy real estate services industry and takes share from smaller, more fragmented competitors [Relation] cause [Effect] Beyond the coming recovery in investment volumes, we think CBRE is poised to experience long-term growth",
    "gold": "[Cause] it benefits from a healthy real estate services industry and takes share from smaller, more fragmented competitors [Relation] cause [Effect] Beyond the coming recovery in investment volumes, we think CBRE is poised to experience long-term growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the near term, we expect a portion of its recent gains will get eaten up as Clorox incurs higher costs associated with ensuring proper safety protocols to protect its labor force, as well as higher transportation and logistics, as it works to keep its product stocked on shelves.",
    "output": "[Cause] Clorox incurs higher costs associated with ensuring proper safety protocols to protect its labor force [Relation] cause [Effect] a portion of its recent gains will get eaten up",
    "gold": "[Cause]  Clorox incurs higher costs associated with ensuring proper safety protocols to protect its labor force [Relation] cause [Effect] a portion of its recent gains will get eaten up",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the near term, we expect a portion of its recent gains will get eaten up as Clorox incurs higher costs associated with ensuring proper safety protocols to protect its labor force, as well as higher transportation and logistics, as it works to keep its product stocked on shelves.",
    "output": "[Cause] it works to keep its product stocked on shelves [Relation] cause [Effect] a portion of its recent gains will get eaten up",
    "gold": "[Cause] higher transportation and logistics [Relation] cause [Effect] a portion of its recent gains will get eaten up",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the near term, we expect a portion of its recent gains will get eaten up as Clorox incurs higher costs associated with ensuring proper safety protocols to protect its labor force, as well as higher transportation and logistics, as it works to keep its product stocked on shelves.",
    "output": "[Cause] it works to keep its product stocked on shelves [Relation] cause [Effect] a portion of its recent gains will get eaten up",
    "gold": "[Cause] it works to keep its product stocked on shelves [Relation] cause [Effect] a portion of its recent gains will get eaten up",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are confident that JLL will be able to outearn its cost of capital over the next 10 years particularly because its product mix has become more contractual and less cyclical as compared with the previous downturn.",
    "output": "[Cause] its product mix has become more contractual and less cyclical as compared with the previous downturn [Relation] cause [Effect] JLL will be able to outearn its cost of capital over the next 10 years",
    "gold": "[Cause]  its product mix has become more contractual and less cyclical as compared with the previous downturn [Relation] cause [Effect]  JLL will be able to outearn its cost of capital over the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of the FIA 100-year agreement, the race teams could not hold the Formula One World Championship without the trademarks and licenses Formula One Group holds.",
    "output": "[Cause] the FIA 100-year agreement [Relation] cause [Effect] the race teams could not hold the Formula One World Championship without the trademarks and licenses Formula One Group holds",
    "gold": "[Cause] the FIA 100-year agreement [Relation] cause [Effect] the race teams could not hold the Formula One World Championship without the trademarks and licenses Formula One Group holds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Meanwhile, there is a healthy secondary market for heavy-duty trucks, making it rather easy for a trucker to liquidate an underperforming asset.",
    "output": "[Cause] there is a healthy secondary market for heavy-duty trucks [Relation] enable [Effect] it rather easy for a trucker to liquidate an underperforming asset",
    "gold": "[Cause] there is a healthy secondary market for heavy-duty trucks [Relation] cause [Effect] it rather easy for a trucker to liquidate an underperforming asset",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "During 2005-14, OCTG companies, including Tenaris, were able to earn sizable economic profits owing to the ramp-up in drilling in challenging end markets like deep-water offshore and U.S.",
    "output": "[Cause] the ramp-up in drilling in challenging end markets like deep-water offshore and U.S [Relation] enable [Effect] During 2005-14, OCTG companies, including Tenaris, were able to earn sizable economic profits",
    "gold": "[Cause] the ramp-up in drilling in challenging end markets like deep-water offshore and U.S [Relation] enable [Effect] During 2005-14, OCTG companies, including Tenaris, were able to earn sizable economic profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite holding more debt at the parent level than most regulated utilities peers, CMS has reduced its near-term financing risk with opportunistic refinancings.",
    "output": "[Cause] opportunistic refinancings [Relation] enable [Effect] CMS has reduced its near-term financing risk",
    "gold": "[Cause]  opportunistic refinancings [Relation] enable [Effect]  CMS has reduced its near-term financing risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Albert Heijn, the Dutch grocery banner and the most profitable business of the group, has been successful in attracting and retaining less price-sensitive consumers through a combination of a high-quality customer experience, a broad assortment of offerings, and a variety of store formats across the country.",
    "output": "[Cause] a combination of a high-quality customer experience, a broad assortment of offerings, and a variety of store formats across the country [Relation] enable [Effect] successful in attracting and retaining less price-sensitive consumers",
    "gold": "[Cause]  a combination of a high-quality customer experience, a broad assortment of offerings, and a variety of store formats across the country [Relation] enable [Effect] successful in attracting and retaining less price-sensitive consumers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, the company's powerful distribution network sets up the company as a strong partner for smaller drug companies that lack Lilly's resources.",
    "output": "[Cause] the company's powerful distribution network [Relation] enable [Effect] the company as a strong partner for smaller drug companies that lack Lilly's resources",
    "gold": "[Cause] the company's powerful distribution network [Relation] cause [Effect] the company as a strong partner for smaller drug companies that lack Lilly's resources",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To boost margins, Eastman has focused on the development of patent-protected specialty chemicals that have an average commercial life of around 10 years.",
    "output": "[Cause] boost margins [Relation] cause [Effect] Eastman has focused on the development of patent-protected specialty chemicals that have an average commercial life of around 10 years",
    "gold": "[Cause] Eastman has focused on the development of patent-protected specialty chemicals [Relation] enable [Effect]  boost margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "ResMed has recently made acquisitions of home healthcare software platforms as it seeks to leverage the trend of providing care in a lower-cost setting.",
    "output": "[Cause] it seeks to leverage the trend of providing care in a lower-cost setting [Relation] cause [Effect] ResMed has recently made acquisitions of home healthcare software platforms",
    "gold": "[Cause] it seeks to leverage the trend of providing care in a lower-cost setting [Relation] enable [Effect] ResMed has recently made acquisitions of home healthcare software platforms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Not only does Graco's continuous investment in innovation fend off competitors, it has allowed the company to gain ground on its rivals.",
    "output": "[Cause] Graco's continuous investment in innovation [Relation] enable [Effect] the company to gain ground on its rivals",
    "gold": "[Cause]  Graco's continuous investment in innovation [Relation] enable [Effect] fend off competitors | gain ground on its rivals",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As the firm continues to innovate and provide a comprehensive set of products for businesses, we believe RingCentral can maintain its competitive positioning.",
    "output": "[Cause] the firm continues to innovate and provide a comprehensive set of products for businesses [Relation] enable [Effect] RingCentral can maintain its competitive positioning",
    "gold": "[Cause] the firm continues to innovate and provide a comprehensive set of products for businesses [Relation] enable [Effect] RingCentral can maintain its competitive positioning",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This exposes CME to the risk of reduced demand if global oil consumption declines as a result of environmental concerns.",
    "output": "[Cause] environmental concerns [Relation] cause [Effect] global oil consumption declines",
    "gold": "[Cause] environmental concerns [Relation] cause [Effect] global oil consumption declines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This exposes CME to the risk of reduced demand if global oil consumption declines as a result of environmental concerns.",
    "output": "[Cause] environmental concerns [Relation] cause [Effect] global oil consumption declines",
    "gold": "[Cause] global oil consumption declines [Relation] cause [Effect]  exposes CME to the risk of reduced demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "OIP becomes more valuable for all users when intellectual property owners join in search of potential licensees, and potential licensees look for solutions to optimize their products.",
    "output": "[Cause] intellectual property owners join in search of potential licensees, and potential licensees look for solutions to optimize their products [Relation] enable [Effect] OIP becomes more valuable for all users",
    "gold": "[Cause] intellectual property owners join in search of potential licensees, and potential licensees look for solutions to optimize their products [Relation] cause [Effect] OIP becomes more valuable for all users",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Activewear (31% of 2020 sales) did not achieve this growth rate last year due to the virus and the loss of the C9 business at Target.",
    "output": "[Cause] the virus and the loss of the C9 business at Target [Relation] cause [Effect] Activewear (31% of 2020 sales) did not achieve this growth rate last year",
    "gold": "[Cause]  the virus and the loss of the C9 business at Target [Relation] cause [Effect] Activewear (31% of 2020 sales) did not achieve this growth rate last year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Based on our estimates, Nice InContact currently garners approximately 5% market share in the space, paving the way for a long growth runway ahead.",
    "output": "[Cause] Nice InContact currently garners approximately 5% market share in the space [Relation] enable [Effect] paving the way for a long growth runway ahead",
    "gold": "[Cause]  Nice InContact currently garners approximately 5% market share in the space [Relation] enable [Effect] paving the way for a long growth runway ahead",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Annual contractual price reductions are an industry norm, so Aptiv has to aggressively employ kaizen, kanban, Six Sigma, and other lean manufacturing practices to advance cost savings.",
    "output": "[Cause] Annual contractual price reductions are an industry norm [Relation] cause [Effect] Aptiv has to aggressively employ kaizen, kanban, Six Sigma, and other lean manufacturing practices to advance cost savings",
    "gold": "[Cause] Annual contractual price reductions are an industry norm [Relation] cause [Effect] so Aptiv has to aggressively employ kaizen, kanban, Six Sigma, and other lean manufacturing practices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Overall segment returns should improve, however, thanks to higher oil prices during the next five years and the addition of higher-return projects.",
    "output": "[Cause] higher oil prices during the next five years and the addition of higher-return projects [Relation] cause [Effect] Overall segment returns should improve",
    "gold": "[Cause] higher oil prices during the next five years [Relation] cause [Effect] the addition of higher-return projects",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We're projecting that the firm's military exposure will grow roughly in line with overall budgets over the long term, as military customers do not value the weight-saving properties of composites as much as commercial customers do.",
    "output": "[Cause] military customers do not value the weight-saving properties of composites as much as commercial customers do [Relation] cause [Effect] the firm's military exposure will grow roughly in line with overall budgets over the long term",
    "gold": "[Cause] military customers do not value the weight-saving properties of composites as much as commercial customers do [Relation] cause [Effect] the firm's military exposure will grow roughly in line with overall budgets over the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Industrial electric sales are expected to grow at 2.5% per year, partially offset by slightly declining residential and commercial sales.",
    "output": "[Cause] slightly declining residential and commercial sales [Relation] prevent [Effect] Industrial electric sales are expected to grow at 2.5% per year",
    "gold": "[Cause] Industrial electric sales are expected to grow at 2.5% per year [Relation] enable [Effect] partially offset by slightly declining residential and commercial sales",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We see little expansion opportunity in wireless margins due to increased competition that we think will necessitate more aggressive promotional pricing.",
    "output": "[Cause] increased competition [Relation] cause [Effect] We see little expansion opportunity in wireless margins",
    "gold": "[Cause] increased competition [Relation] cause [Effect]  more aggressive promotional pricing.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Operating margins will probably also fluctuate slightly, due to the rollout of various strategic partnerships to optimize the company's footprint in conjunction with continued progress on cost initiatives.",
    "output": "[Cause] the rollout of various strategic partnerships [Relation] cause [Effect] optimize the company's footprint in conjunction with continued progress on cost initiatives",
    "gold": "[Cause] the rollout of various strategic partnerships [Relation] cause [Effect] optimize the company's footprint in conjunction with continued progress on cost initiatives",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Operating margins will probably also fluctuate slightly, due to the rollout of various strategic partnerships to optimize the company's footprint in conjunction with continued progress on cost initiatives.",
    "output": "[Cause] the rollout of various strategic partnerships [Relation] cause [Effect] optimize the company's footprint in conjunction with continued progress on cost initiatives",
    "gold": "[Cause] optimize the company's footprint in conjunction with continued progress on cost initiatives [Relation] cause [Effect] Operating margins will probably also fluctuate slightly",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We note that Boeing's defense unit is exposed to more fixed-price development contracts than other defense primes, which introduces more operating income variability than peers.",
    "output": "[Cause] Boeing's defense unit is exposed to more fixed-price development contracts than other defense primes [Relation] cause [Effect] introduces more operating income variability than peers",
    "gold": "[Cause] Boeing's defense unit is exposed to more fixed-price development contracts than other defense primes [Relation] cause [Effect] introduces more operating income variability than peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, our view is that operating margins can expand in the face of gross margin pressure, driven by operating leverage across administrative and selling expenses (though advertising and promotions should start to pick up following an industrywide lull in 2020).",
    "output": "[Cause] operating leverage across administrative and selling expenses [Relation] cause [Effect] operating margins can expand in the face of gross margin pressure",
    "gold": "[Cause] operating leverage across administrative and selling expenses [Relation] enable [Effect] operating margins can expand in the face of gross margin pressure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "BioMarin has several approved products in its portfolio, but high R&D expenses have prevented BioMarin from turning a significant profit, and we assign the firm a medium uncertainty rating.",
    "output": "[Cause] high R&D expenses [Relation] prevent [Effect] BioMarin from turning a significant profit",
    "gold": "[Cause] BioMarin has several approved products in its portfolio, but high R&D expenses have prevented BioMarin from turning a significant profit [Relation] cause [Effect] we assign the firm a medium uncertainty rating",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect Paccar to reach modest production volume over the next few years, as electrification in the trucking industry proliferates.",
    "output": "[Cause] electrification in the trucking industry proliferates [Relation] cause [Effect] Paccar to reach modest production volume over the next few years",
    "gold": "[Cause] electrification in the trucking industry proliferates [Relation] cause [Effect] Paccar to reach modest production volume over the next few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The military relies on these satellites for essential intelligence gathering, so we also believe there are switching costs relating to the mission criticality of the product operating as intended.",
    "output": "[Cause] The military relies on these satellites for essential intelligence gathering [Relation] cause [Effect] there are switching costs relating to the mission criticality of the product operating as intended",
    "gold": "[Cause] The military relies on these satellites for essential intelligence gathering [Relation] cause [Effect] there are switching costs relating to the mission criticality of the product operating as intended",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It had exclusive testing rights with patents on isolated BRCA1 and BRCA2 genes until a 2013 Supreme Court decision ruled that isolated DNA cannot be patented, stripping away the company's intellectual property in its hereditary cancer suite.",
    "output": "[Cause] a 2013 Supreme Court decision ruled that isolated DNA cannot be patented [Relation] cause [Effect] stripping away the company's intellectual property in its hereditary cancer suite",
    "gold": "[Cause] a 2013 Supreme Court decision ruled that isolated DNA cannot be patented [Relation] cause [Effect] stripping away the company's intellectual property in its hereditary cancer suite",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The bank's narrow product offering focuses its assets, giving Capital One the benefit of scale in its chosen business lines. This does have the consequence of leaving the bank undiversified as it generates most of its revenue from its credit cards and auto lending.",
    "output": "[Cause] The bank's narrow product offering focuses its assets, giving Capital One the benefit of scale in its chosen business lines [Relation] cause [Effect] leaving the bank undiversified as it generates most of its revenue from its credit cards and auto lending",
    "gold": "[Cause] The bank's narrow product offering focuses its assets, giving Capital One the benefit of scale in its chosen business lines [Relation] cause [Effect]  leaving the bank undiversified as it generates most of its revenue from its credit cards and auto lending",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fox News is performing very well today, but advertisers could flee from the network due to boycotts or controversial commentary from on-air talent.",
    "output": "[Cause] boycotts or controversial commentary from on-air talent [Relation] cause [Effect] advertisers could flee from the network",
    "gold": "[Cause]  boycotts or controversial commentary from on-air talent [Relation] cause [Effect] advertisers could flee from the network",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Poor relative active investment performance and the growth of low-cost index-based products continue to make organic growth challenging for most active equity fund managers, leaving the group dependent on market gains to drive asset levels higher.",
    "output": "[Cause] Poor relative active investment performance and the growth of low-cost index-based products [Relation] cause [Effect] organic growth challenging for most active equity fund managers, leaving the group dependent on market gains to drive asset levels higher",
    "gold": "[Cause] Poor relative active investment performance  |  the growth of low-cost index-based products [Relation] enable [Effect] make organic growth challenging",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We're more convinced than ever that the firm is well positioned to roll out more Panther instrumentation thanks to recent moves to double manufacturing capacity.",
    "output": "[Cause] recent moves to double manufacturing capacity [Relation] enable [Effect] the firm is well positioned to roll out more Panther instrumentation",
    "gold": "[Cause] recent moves to double manufacturing capacity [Relation] cause [Effect]  the firm is well positioned to roll out more Panther instrumentation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Diamondback will be the operator on over 50% of Viper's acres once the latest dropdown is complete, and we estimate Concho Resources operates on enough acreage to ensure the two firms constitute the majority (70%-80%) of Viper's acreage.",
    "output": "[Cause] the latest dropdown is complete [Relation] cause [Effect] Diamondback will be the operator on over 50% of Viper's acres",
    "gold": "[Cause] the latest dropdown is complete [Relation] enable [Effect] Diamondback will be the operator on over 50% of Viper's acres",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, the coronavirus outbreak, which was particularly acute in New York City at the outset, has the potential to damage the city's reputation and may cause broader doubts surrounding the long-term viability of working in an office.",
    "output": "[Cause] the coronavirus outbreak [Relation] cause [Effect] damage the city's reputation and may cause broader doubts surrounding the long-term viability of working in an office",
    "gold": "[Cause] the coronavirus outbreak [Relation] cause [Effect] damage the city's reputation and may cause broader doubts surrounding the long-term viability of working in an office",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "TransAlta's earnings are highly leveraged to Alberta power prices, which are volatile due to the small size of the market and supply/demand fundamentals that can change rapidly.",
    "output": "[Cause] the small size of the market and supply/demand fundamentals that can change rapidly [Relation] cause [Effect] volatile",
    "gold": "[Cause]  the small size of the market and supply/demand fundamentals that can change rapidly [Relation] cause [Effect] volatile",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We continue to rate Exxon as one of the higher-quality integrated firms, given its ability to capture economic rents along the oil and gas value chain.",
    "output": "[Cause] its ability to capture economic rents along the oil and gas value chain [Relation] cause [Effect] We continue to rate Exxon as one of the higher-quality integrated firms",
    "gold": "[Cause] its ability to capture economic rents along the oil and gas value chain [Relation] cause [Effect] We continue to rate Exxon as one of the higher-quality integrated firms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With infection rates rising as COVID-19 spreads, we expect low-double-digit comparable sales growth in the second quarter (mid-single digits previously), before tapering into the low- to mid-single digits in the second half as comparisons become more difficult and vaccines bring the pandemic to a close.",
    "output": "[Cause] comparisons become more difficult and vaccines bring the pandemic to a close [Relation] cause [Effect] low-double-digit comparable sales growth in the second quarter (mid-single digits previously), before tapering into the low- to mid-single digits in the second half",
    "gold": "[Cause]  comparisons become more difficult and vaccines bring the pandemic to a close [Relation] cause [Effect] low-double-digit comparable sales growth in the second quarter (mid-single digits previously), before tapering into the low- to mid-single digits in the second half",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the funding window for meaningful-use payments closed in 2015, the electronic medical record market was largely saturated, and growth in the physician segment slowed considerably.",
    "output": "[Cause] the funding window for meaningful-use payments closed in 2015 [Relation] cause [Effect] the electronic medical record market was largely saturated, and growth in the physician segment slowed considerably",
    "gold": "[Cause] the funding window for meaningful-use payments closed in 2015 [Relation] enable [Effect] the electronic medical record market was largely saturated, and growth in the physician segment slowed considerably",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "More recently, Nvidia acquired Mellanox to bolster its data center offerings in the networking realm to raise switching costs and improve performance of Nvidia's existing portfolio.",
    "output": "[Cause] Nvidia acquired Mellanox [Relation] enable [Effect] bolster its data center offerings in the networking realm to raise switching costs and improve performance of Nvidia's existing portfolio",
    "gold": "[Cause] Nvidia acquired Mellanox [Relation] cause [Effect] bolster its data center offerings in the networking realm to raise switching costs and improve performance of Nvidia's existing portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ON's size and comparatively limited portfolio will most likely keep it from realizing returns above invested capital to the same degree as larger peers, such as Texas Instruments or NXP Semiconductors, but we believe it has a sustainable niche.",
    "output": "[Cause] ON's size and comparatively limited portfolio [Relation] prevent [Effect] realizing returns above invested capital to the same degree as larger peers, such as Texas Instruments or NXP Semiconductors",
    "gold": "[Cause] ON's size and comparatively limited portfolio [Relation] prevent [Effect] realizing returns above invested capital to the same degree as larger peers, such as Texas Instruments or NXP Semiconductors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, all its facilities are located in the midcontinent, Rockies, or Southwest region. As a result, each refinery benefits from the difference in price between inland light crudes, particularly in the Permian of which it refines 140-160 mbd, and other high-quality waterborne crude such as Brent.",
    "output": "[Cause] all its facilities are located in the midcontinent, Rockies, or Southwest region [Relation] cause [Effect] each refinery benefits from the difference in price between inland light crudes, particularly in the Permian of which it refines 140-160 mbd, and other high-quality waterborne crude such as Brent",
    "gold": "[Cause]  all its facilities are located in the midcontinent, Rockies, or Southwest region [Relation] cause [Effect] each refinery benefits from the difference in price between inland light crudes, particularly in the Permian of which it refines 140-160 mbd, and other high-quality waterborne crude such as Brent",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Brokers such as JLL and CBRE negotiate on behalf of tenants to ensure that the terms of lease agreements are priced appropriately.",
    "output": "[Cause] Brokers such as JLL and CBRE negotiate on behalf of tenants [Relation] enable [Effect] ensure that the terms of lease agreements are priced appropriately",
    "gold": "[Cause] Brokers such as JLL and CBRE negotiate on behalf of tenants [Relation] cause [Effect] ensure that the terms of lease agreements are priced appropriately",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that Dropbox's business could be severely affected if either office suite providers limited compatibility in the future in order to increase adoption of their own storage and collaboration platforms.",
    "output": "[Cause] either office suite providers limited compatibility in the future in order to increase adoption of their own storage and collaboration platforms [Relation] cause [Effect] Dropbox's business could be severely affected",
    "gold": "[Cause] either office suite providers limited compatibility in the future in order to increase adoption of their own storage and collaboration platforms [Relation] cause [Effect] Dropbox's business could be severely affected",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Another reason for Diageo to continue consolidating is to broaden its product portfolio, an important strategy in the on trade.",
    "output": "[Cause] broaden its product portfolio [Relation] cause [Effect] Diageo to continue consolidating",
    "gold": "[Cause] broaden its product portfolio [Relation] cause [Effect] Diageo to continue consolidating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Meanwhile, we expect IP revenue to grow at a low-double-digit rate, bolstered by a growth in chip customization as Moore's Law slows and chip designers seek to differentiate their products.",
    "output": "[Cause] Moore's Law slows and chip designers seek to differentiate their products [Relation] cause [Effect] IP revenue to grow at a low-double-digit rate, bolstered by a growth in chip customization",
    "gold": "[Cause]  a growth in chip customization [Relation] cause [Effect]  IP revenue to grow at a low-double-digit rate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The high-quality properties will continue to provide consumers with unique shopping experiences that are hard to replicate elsewhere, and as a result, we think Simon's portfolio will be sought after by retailers that are increasingly pursuing an omnichannel strategy.",
    "output": "[Cause] The high-quality properties will continue to provide consumers with unique shopping experiences that are hard to replicate elsewhere [Relation] cause [Effect] Simon's portfolio will be sought after by retailers that are increasingly pursuing an omnichannel strategy",
    "gold": "[Cause] The high-quality properties will continue to provide consumers with unique shopping experiences that are hard to replicate elsewhere [Relation] cause [Effect] Simon's portfolio will be sought after by retailers that are increasingly pursuing an omnichannel strategy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although Williams' G&amp;P business is largely protected from direct commodity price sensitivity, the business is sensitive to drilling activity, which can go through cycles based on oil and gas market prices. This results in more volatile margins and gives us little confidence that returns on capital in the G&amp;P business will be greater than Williams' cost of capital on a sustainable basis in the long run.",
    "output": "[Cause] Although Williams' G&amp;P business is largely protected from direct commodity price sensitivity, the business is sensitive to drilling activity, which can go through cycles based on oil and gas market prices [Relation] cause [Effect] more volatile margins and gives us little confidence that returns on capital in the G&amp;P business will be greater than Williams' cost of capital on a sustainable basis in the long run",
    "gold": "[Cause] Although Williams' G&amp;P business is largely protected from direct commodity price sensitivity, the business is sensitive to drilling activity, which can go through cycles based on oil and gas market prices [Relation] cause [Effect]  more volatile margins and gives us little confidence that returns on capital in the G&amp;P business will be greater than Williams' cost of capital on a sustainable basis in the long run",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The availability and pricing of agricultural products are subject to unpredictable factors such as weather, planting, disease, and government programs.",
    "output": "[Cause] unpredictable factors such as weather, planting, disease, and government programs [Relation] cause [Effect] The availability and pricing of agricultural products",
    "gold": "[Cause] unpredictable factors such as weather, planting, disease, and government programs [Relation] cause [Effect] The availability and pricing of agricultural products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Brand loyalty tends to be higher in consumer product categories where real product differentiation is achievable, or at least where the perception of product differentiation is high, as is the case in aged spirits.",
    "output": "[Cause] real product differentiation is achievable, or at least where the perception of product differentiation is high [Relation] cause [Effect] Brand loyalty tends to be higher in consumer product categories",
    "gold": "[Cause] consumer product categories where real product differentiation is achievable [Relation] cause [Effect] Brand loyalty tends to be higher",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For 2021, we expect total revenue to rise 9%-10% as heightened retailer restocking drives strong demand across all segments throughout the first half, and as intermodal network inefficiencies subside.",
    "output": "[Cause] heightened retailer restocking [Relation] cause [Effect] strong demand across all segments throughout the first half",
    "gold": "[Cause] heightened retailer restocking [Relation] cause [Effect] strong demand across all segments throughout the first half",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With an improved regulatory framework in Missouri, management is keeping its promise to invest in jurisdictions that support investment.",
    "output": "[Cause] an improved regulatory framework in Missouri [Relation] enable [Effect] management is keeping its promise to invest in jurisdictions that support investment",
    "gold": "[Cause] an improved regulatory framework in Missouri [Relation] cause [Effect] management is keeping its promise to invest in jurisdictions that support investment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "More effective brand spending should enable Kellogg to better weather competitive pressures, and as a result of its brand spending, we think its products will uphold strong positions in their respective categories over the long term.",
    "output": "[Cause] More effective brand spending [Relation] enable [Effect] better weather competitive pressures",
    "gold": "[Cause] More effective brand spending [Relation] enable [Effect]  better weather competitive pressures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "More effective brand spending should enable Kellogg to better weather competitive pressures, and as a result of its brand spending, we think its products will uphold strong positions in their respective categories over the long term.",
    "output": "[Cause] More effective brand spending [Relation] enable [Effect] its products will uphold strong positions in their respective categories over the long term",
    "gold": "[Cause]  brand spending [Relation] cause [Effect] uphold strong positions in their respective categories over the long term.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The permanent segment is more sensitive to the economy; therefore, we estimate the segment will grow higher at a roughly 8% CAGR during our forecast period.",
    "output": "[Cause] The permanent segment is more sensitive to the economy [Relation] cause [Effect] the segment will grow higher at a roughly 8% CAGR during our forecast period",
    "gold": "[Cause] The permanent segment is more sensitive to the economy [Relation] cause [Effect] the segment will grow higher at a roughly 8% CAGR during our forecast period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through a tiered GPO pricing system and multi-year contracts based on guaranteed volumes, hospitals are incentivized to work with the lowest-priced vendors in specific niches, which can often create a virtuous cycle of benefiting the companies with the largest economies of scale or scope within a particular niche.",
    "output": "[Cause] hospitals are incentivized to work with the lowest-priced vendors in specific niches [Relation] cause [Effect] create a virtuous cycle of benefiting the companies with the largest economies of scale or scope within a particular niche",
    "gold": "[Cause] create a virtuous cycle of benefiting the companies [Relation] enable [Effect] the largest economies of scale or scope within a particular niche",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We're anticipating aircraft retirements will accelerate because of the pandemic, which reduces the number of out-of-warranty aircraft and thus Heico's addressable market for repair parts.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] aircraft retirements will accelerate",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] aircraft retirements will accelerate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Independent hotels must continue to find ways to stand out through either exceptional service, which increases operational risk, or lower prices, which reduces profits to the hotel owner, to compete with the growing loyalty programs.",
    "output": "[Cause] lower prices [Relation] enable [Effect] reduce profits to the hotel owner",
    "gold": "[Cause] lower prices, which reduces profits to the hotel owner [Relation] enable [Effect] stand out through",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Independent hotels must continue to find ways to stand out through either exceptional service, which increases operational risk, or lower prices, which reduces profits to the hotel owner, to compete with the growing loyalty programs.",
    "output": "[Cause] lower prices [Relation] cause [Effect] reduce profits to the hotel owner",
    "gold": "[Cause] lower prices, which reduces profits to the hotel owner [Relation] enable [Effect] compete with the growing loyalty programs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Recent transaction revenue has been elevated by $0 commission trades and market volatility caused by COVID-19's effect on the economy.",
    "output": "[Cause] COVID-19's effect on the economy [Relation] cause [Effect] Recent transaction revenue has been elevated by $0 commission trades and market volatility",
    "gold": "[Cause] COVID-19's effect on the economy [Relation] cause [Effect] Recent transaction revenue has been elevated by $0 commission trades and market volatility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do not except acquisitions to detract from Sandvik's investments into product innovation, which has been a common feature and helped contribute to its strong market position in the electrification and automation of underground mining equipment.",
    "output": "[Cause] acquisitions [Relation] prevent [Effect] Sandvik's investments into product innovation",
    "gold": "[Cause] acquisitions [Relation] enable [Effect] contribute to its strong market position in the electrification and automation of underground mining equipment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company has made improvements in its supply chain and we think it can achieve cost efficiencies as its men's and international businesses grow.",
    "output": "[Cause] its men's and international businesses grow [Relation] enable [Effect] it can achieve cost efficiencies",
    "gold": "[Cause] its men's and international businesses grow [Relation] cause [Effect] it can achieve cost efficiencies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have assumed that the COVID-19 pandemic will drive organic revenue decline for the firm in 2020, with recovery being a slow and gradual one.",
    "output": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] drive organic revenue decline for the firm in 2020",
    "gold": "[Cause] the COVID-19 pandemic [Relation] cause [Effect]  drive organic revenue decline for the firm in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, in 2021, Qiagen aims to introduce a new TB tool to expand in low resource countries that do not have access to modern laboratory infrastructures.",
    "output": "[Cause] Qiagen aims to introduce a new TB tool [Relation] enable [Effect] expand in low resource countries that do not have access to modern laboratory infrastructures",
    "gold": "[Cause] Qiagen aims to introduce a new TB tool [Relation] enable [Effect] expand in low resource countries that do not have access to modern laboratory infrastructures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Should the government be unable to impose fiscal austerity, we would expect accelerating inflation and significant declines in the value of Brazil's sovereign bonds that account for approximately 160% of Itau's equity.",
    "output": "[Cause] the government be unable to impose fiscal austerity [Relation] cause [Effect] accelerating inflation and significant declines in the value of Brazil's sovereign bonds that account for approximately 160% of Itau's equity",
    "gold": "[Cause] the government be unable to impose fiscal austerity [Relation] cause [Effect] accelerating inflation and significant declines in the value of Brazil's sovereign bonds that account for approximately 160% of Itau's equity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Natural and organic product sales are growing around mid- to high single digits annually, while the overall food and beverage market grows about 2%. Therefore, we think the category can approximate a mid- to high teens level of domestic food and beverage sales over the course of the next two decades.",
    "output": "[Cause] Natural and organic product sales are growing around mid- to high single digits annually, while the overall food and beverage market grows about 2% [Relation] cause [Effect] the category can approximate a mid- to high teens level of domestic food and beverage sales over the course of the next two decades",
    "gold": "[Cause] Natural and organic product sales are growing around mid- to high single digits annually, while the overall food and beverage market grows about 2% [Relation] cause [Effect]  the category can approximate a mid- to high teens level of domestic food and beverage sales over the course of the next two decades",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In recent years Nordson has focused on growing its medical business through acquisitions, which has increased the firm's recurring revenue from consumables.",
    "output": "[Cause] Nordson has focused on growing its medical business through acquisitions [Relation] enable [Effect] increased the firm's recurring revenue from consumables",
    "gold": "[Cause] Nordson has focused on growing its medical business through acquisitions [Relation] cause [Effect] increased the firm's recurring revenue from consumables",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We now expect the RSN segment to be challenged on affiliate fee growth as the distributors push back on fee increases and overall pay-television subscribers decline.",
    "output": "[Cause] the distributors push back on fee increases and overall pay-television subscribers decline [Relation] cause [Effect] the RSN segment to be challenged on affiliate fee growth",
    "gold": "[Cause] the distributors push back on fee increases and overall pay-television subscribers decline [Relation] cause [Effect] the RSN segment to be challenged on affiliate fee growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think this continued innovation results in a persistent cost advantage for Corning's optical business, with gross margins consistently more than 1,000 basis points above those of YOFC, its closest peer in global market share.",
    "output": "[Cause] this continued innovation [Relation] cause [Effect] a persistent cost advantage for Corning's optical business, with gross margins consistently more than 1,000 basis points above those of YOFC, its closest peer in global market share",
    "gold": "[Cause]  this continued innovation [Relation] enable [Effect]  a persistent cost advantage for Corning's optical business, with gross margins consistently more than 1,000 basis points above those of YOFC, its closest peer in global market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to the high capital requirements and multiple moving parts, each with a high degree of uncertainty, we believe the outlook for Rolls-Royce and the successful implementation of its long-term growth strategy to be highly uncertain.",
    "output": "[Cause] the high capital requirements and multiple moving parts, each with a high degree of uncertainty [Relation] cause [Effect] the outlook for Rolls-Royce and the successful implementation of its long-term growth strategy to be highly uncertain",
    "gold": "[Cause]  the high capital requirements and multiple moving parts, each with a high degree of uncertainty [Relation] cause [Effect] the outlook for Rolls-Royce and the successful implementation of its long-term growth strategy to be highly uncertain",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's strong retention, continued development of new applications, increasing penetration within existing customers, addition of new customers, and expansion into industries outside of life sciences should allow the company to extend its market leadership, in our view.",
    "output": "[Cause] The company's strong retention, continued development of new applications, increasing penetration within existing customers, addition of new customers, and expansion into industries outside of life sciences [Relation] enable [Effect] the company to extend its market leadership",
    "gold": "[Cause] The company's strong retention, continued development of new applications, increasing penetration within existing customers, addition of new customers, and expansion into industries outside of life sciences [Relation] enable [Effect] the company to extend its market leadership",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Runaway inflation and falling disposable incomes in markets like Argentina make it increasingly difficult to maintain appropriate economics while delivering affordability to its consumers.",
    "output": "[Cause] Runaway inflation and falling disposable incomes in markets like Argentina [Relation] cause [Effect] increasingly difficult to maintain appropriate economics while delivering affordability to its consumers",
    "gold": "[Cause] Runaway inflation and falling disposable incomes in markets like Argentina [Relation] cause [Effect] increasingly difficult to maintain appropriate economics while delivering affordability to its consumers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "NRG also faces environmental, social, and governance risk, given its fossil fuel power generation fleet as regulators and politicians are embracing tighter carbon emissions policies.",
    "output": "[Cause] its fossil fuel power generation fleet as regulators and politicians are embracing tighter carbon emissions policies [Relation] cause [Effect] NRG also faces environmental, social, and governance risk",
    "gold": "[Cause]  its fossil fuel power generation fleet as regulators and politicians are embracing tighter carbon emissions policies [Relation] cause [Effect] NRG also faces environmental, social, and governance risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Nvidia will capture a healthy portion of the self-driving opportunity, culminating in a 24% CAGR in automotive revenue through fiscal 2026, following a soft fiscal 2021 due to COVID-19.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] a soft fiscal 2021",
    "gold": "[Cause] Nvidia will capture a healthy portion of the self-driving opportunity [Relation] enable [Effect] culminating in a 24% CAGR in automotive revenue through fiscal 2026",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Macy's recorded a 29% revenue decline and large operating loss in 2020 due to store closures and economic fallout from the COVID-19 crisis, but we expect profitability to return in 2021, with EPS of $0.72.",
    "output": "[Cause] store closures and economic fallout from the COVID-19 crisis [Relation] cause [Effect] Macy's recorded a 29% revenue decline and large operating loss in 2020",
    "gold": "[Cause] store closures and economic fallout from the COVID-19 crisis [Relation] cause [Effect] Macy's recorded a 29% revenue decline and large operating loss in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We attribute the sales retreat to an inability to effectively pivot its mix to align with consumer trends, which has also constrained profitability.",
    "output": "[Cause] an inability to effectively pivot its mix to align with consumer trends [Relation] cause [Effect] constrained profitability",
    "gold": "[Cause] an inability to effectively pivot its mix to align with consumer trends [Relation] cause [Effect] constrained profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Strong growth in core Agco European and North American markets during 2018 was a function of pent-up replacement demand after years of weaker sales.",
    "output": "[Cause] pent-up replacement demand after years of weaker sales [Relation] cause [Effect] Strong growth in core Agco European and North American markets during 2018",
    "gold": "[Cause] pent-up replacement demand after years of weaker sales [Relation] cause [Effect] Strong growth in core Agco European and North American markets during 2018",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect that Studio Canal will take until 2022 to return to 2019 levels as the studio took the biggest hit from the pandemic among the Canal+ properties.",
    "output": "[Cause] the studio took the biggest hit from the pandemic among the Canal+ properties [Relation] cause [Effect] We expect that Studio Canal will take until 2022 to return to 2019 levels",
    "gold": "[Cause] the studio took the biggest hit from the pandemic among the Canal+ properties [Relation] cause [Effect] We expect that Studio Canal will take until 2022 to return to 2019 levels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Macao has a strong structural demand story, supported by the extremely low penetration rate of 2% in 2019, compared with Las Vegas' 13%.",
    "output": "[Cause] the extremely low penetration rate of 2% in 2019 [Relation] enable [Effect] Macao has a strong structural demand story",
    "gold": "[Cause] the extremely low penetration rate of 2% in 2019 [Relation] enable [Effect]  Macao has a strong structural demand story",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect adjusted EBITDA margins to grow over the forecast period as investment spending begins to level off and from highly incremental Workforce Solutions revenue.",
    "output": "[Cause] investment spending begins to level off and from highly incremental Workforce Solutions revenue [Relation] cause [Effect] adjusted EBITDA margins to grow over the forecast period",
    "gold": "[Cause]  investment spending begins to level off and from highly incremental Workforce Solutions revenue [Relation] enable [Effect] adjusted EBITDA margins to grow over the forecast period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As customers add policies, they are more likely to rely on an agent who can help them customize their policies and save them money through bundling.",
    "output": "[Cause] customers add policies [Relation] cause [Effect] they are more likely to rely on an agent who can help them customize their policies and save them money through bundling",
    "gold": "[Cause] help them customize their policies and save them money through bundling [Relation] enable [Effect] As customers add policies, they are more likely to rely on an agent",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, as L3Harris uses internal funds to develop products, so the firm retains the risk that it develops products that do not resonate with the customer.",
    "output": "[Cause] L3Harris uses internal funds to develop products [Relation] cause [Effect] the firm retains the risk that it develops products that do not resonate with the customer",
    "gold": "[Cause]  L3Harris uses internal funds to develop products [Relation] cause [Effect]  the firm retains the risk that it develops products that do not resonate with the customer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our opinion, with this type of information about each one of its 2.5 billion monthly active users, Facebook provides unique and attractive advertising opportunities for advertisers and businesses, which will allow the firm to generate excess returns on capital over time.",
    "output": "[Cause] this type of information about each one of its 2.5 billion monthly active users [Relation] cause [Effect] Facebook provides unique and attractive advertising opportunities for advertisers and businesses",
    "gold": "[Cause]  this type of information about each one of its 2.5 billion monthly active users [Relation] enable [Effect]  Facebook provides unique and attractive advertising opportunities for advertisers and businesses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, it is typically cheaper for an incumbent pipeline to add capacity via compression, pumps, or a parallel line than it would be for a competitor to build a competing line.",
    "output": "[Cause] it is typically cheaper for an incumbent pipeline to add capacity via compression, pumps, or a parallel line [Relation] enable [Effect] it would be for a competitor to build a competing line",
    "gold": "[Cause] add capacity via compression, pumps, or a parallel line than it would be for a competitor to build a competing line [Relation] cause [Effect] cheaper for an incumbent pipeline",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Home Depot's sales are largely driven by improved consumer willingness to spend thanks to rising home prices and still-decent turnover.",
    "output": "[Cause] improved consumer willingness to spend thanks to rising home prices and still-decent turnover [Relation] cause [Effect] Home Depot's sales",
    "gold": "[Cause]  improved consumer willingness to spend thanks to rising home prices and still-decent turnover [Relation] enable [Effect] Home Depot's sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Buoyed by growing demand for radiotherapy, or RT, Varian and main competitor Elekta should enjoy sales momentum for the next decade, particularly in the emerging markets.",
    "output": "[Cause] Buoyed by growing demand for radiotherapy, or RT [Relation] cause [Effect] Varian and main competitor Elekta should enjoy sales momentum for the next decade, particularly in the emerging markets",
    "gold": "[Cause] growing demand for radiotherapy [Relation] enable [Effect] RT, Varian and main competitor Elekta should enjoy sales momentum for the next decade",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For each of these firms, a monumental breach is probably low, but if it were to happen, especially if due to company negligence, the financial and reputational damage could be severe.",
    "output": "[Cause] if it were to happen, especially if due to company negligence [Relation] cause [Effect] the financial and reputational damage could be severe",
    "gold": "[Cause] a monumental breach [Relation] cause [Effect]  the financial and reputational damage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If that offering is compelling enough, more employers will be attracted to Cigna's insurance plans in those communities, and local service providers, such as hospitals and physician groups, will have more incentive to join Cigna's insurance networks to gain access to the large, growing membership rolls.",
    "output": "[Cause] offering is compelling enough [Relation] cause [Effect] more employers will be attracted to Cigna's insurance plans in those communities",
    "gold": "[Cause] offering is compelling enough [Relation] enable [Effect] more employers will be attracted to Cigna's insurance plans in those communities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that VeriSign's strong operating history (over 21 years of continuous availability of the .net and .com domain name systems) makes it highly likely that it will continue to see its key contracts renewed, providing room for additional revenue growth while maintaining exceptional operating margins.",
    "output": "[Cause] VeriSign's strong operating history [Relation] enable [Effect] it highly likely that it will continue to see its key contracts renewed",
    "gold": "[Cause] VeriSign's strong operating history [Relation] cause [Effect] it highly likely that it will continue to see its key contracts renewed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that VeriSign's strong operating history (over 21 years of continuous availability of the .net and .com domain name systems) makes it highly likely that it will continue to see its key contracts renewed, providing room for additional revenue growth while maintaining exceptional operating margins.",
    "output": "[Cause] VeriSign's strong operating history [Relation] enable [Effect] providing room for additional revenue growth while maintaining exceptional operating margins",
    "gold": "[Cause] it highly likely that it will continue to see its key contracts renewed [Relation] cause [Effect] providing room for additional revenue growth while maintaining exceptional operating margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In 2014, the firm tripled in size by adding Motorola Solutions' enterprise unit, which added data capture, radio frequency identification, and mobile computing capabilities to its legacy barcode printing business.",
    "output": "[Cause] adding Motorola Solutions' enterprise unit [Relation] enable [Effect] the firm tripled in size",
    "gold": "[Cause]  the firm tripled in size by adding Motorola Solutions' enterprise unit [Relation] enable [Effect] added data capture, radio frequency identification, and mobile computing capabilities to its legacy barcode printing business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Expected growth drivers are ongoing rig activity, ethane recovery, and reducing flared gas, and every 25,000 incremental bpd is about $100 million in incremental EBITDA.",
    "output": "[Cause] reducing flared gas [Relation] cause [Effect] growth drivers",
    "gold": "[Cause] ethane recovery [Relation] cause [Effect] growth drivers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Expected growth drivers are ongoing rig activity, ethane recovery, and reducing flared gas, and every 25,000 incremental bpd is about $100 million in incremental EBITDA.",
    "output": "[Cause] reducing flared gas [Relation] cause [Effect] growth drivers",
    "gold": "[Cause] reducing flared gas [Relation] cause [Effect] growth drivers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Synchrony's partners are likely to demand more from it, and the company will be forced to accept lower margins or risk losing more partners to competitors.",
    "output": "[Cause] Synchrony's partners are likely to demand more from it [Relation] cause [Effect] the company will be forced to accept lower margins",
    "gold": "[Cause] Synchrony's partners are likely to demand more from it [Relation] enable [Effect] the company will be forced to accept lower margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Synchrony's partners are likely to demand more from it, and the company will be forced to accept lower margins or risk losing more partners to competitors.",
    "output": "[Cause] the company will be forced to accept lower margins [Relation] cause [Effect] risk losing more partners to competitors",
    "gold": "[Cause]  risk losing more partners to competitors [Relation] cause [Effect] the company will be forced to accept lower margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although management believes that equity placements are becoming less connected to secondary flows, we are unconvinced that the move away from equities trading will not affect Deutsche's IPO business.",
    "output": "[Cause] equity placements are becoming less connected to secondary flows [Relation] cause [Effect] we are unconvinced that the move away from equities trading will not affect Deutsche's IPO business",
    "gold": "[Cause] the move away from equities trading [Relation] prevent [Effect] Deutsche's IPO business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In essence, we believe Square's success has largely come from expanding the acquiring market, as opposed to stealing material share from existing players.",
    "output": "[Cause] expanding the acquiring market [Relation] cause [Effect] Square's success",
    "gold": "[Cause] opposed to stealing material share from existing players [Relation] enable [Effect] Square's success has largely come from expanding the acquiring market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "New stores should drive capital spending; we anticipate Sprouts outlays 3% of sales in the long term (after a slowdown in store openings in fiscal 2020), lower than its 4% three-year average as new unit costs become a smaller portion of the sales base.",
    "output": "[Cause] new unit costs become a smaller portion of the sales base [Relation] cause [Effect] Sprouts outlays 3% of sales in the long term (after a slowdown in store openings in fiscal 2020), lower than its 4% three-year average",
    "gold": "[Cause]  new unit costs become a smaller portion of the sales base [Relation] cause [Effect] drive capital spending",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think the value of Tencent's network increases for both new and existing users as more users adopt WeChat and mobile QQ.",
    "output": "[Cause] more users adopt WeChat and mobile QQ [Relation] cause [Effect] the value of Tencent's network increases for both new and existing users",
    "gold": "[Cause] more users adopt WeChat and mobile QQ [Relation] cause [Effect] the value of Tencent's network increases for both new and existing users",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, registry programs like The One and loyalty plans such as The Key could further enhance transaction cadence of existing customers and marketing efficiency as the firm better understands its customers' desires.",
    "output": "[Cause] the firm better understands its customers' desires [Relation] enable [Effect] registry programs like The One and loyalty plans such as The Key could further enhance transaction cadence of existing customers and marketing efficiency",
    "gold": "[Cause] the firm better understands its customers' desires [Relation] cause [Effect]  registry programs like The One and loyalty plans such as The Key could further enhance transaction cadence of existing customers and marketing efficiency",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The more consumers that are plugged into a payment network, the more attractive that payment network becomes for merchants, which in turn makes the network more convenient for consumers, and so on. This explains why a handful of networks have come to dominate electronic payments, and at this point, Visa has reached essentially universal acceptance in most developed markets.",
    "output": "[Cause] The more consumers that are plugged into a payment network, the more attractive that payment network becomes for merchants, which in turn makes the network more convenient for consumers, and so on [Relation] cause [Effect] a handful of networks have come to dominate electronic payments, and at this point, Visa has reached essentially universal acceptance in most developed markets",
    "gold": "[Cause] The more consumers that are plugged into a payment network, the more attractive that payment network becomes for merchants, which in turn makes the network more convenient for consumers, and so on [Relation] cause [Effect]  a handful of networks have come to dominate electronic payments, and at this point, Visa has reached essentially universal acceptance in most developed markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also see the leverage of the Canadian consumer as a risk, which could result in greater potential for consumer defaults as well as a longer period of decreased economic demand.",
    "output": "[Cause] the leverage of the Canadian consumer as a risk [Relation] cause [Effect] greater potential for consumer defaults as well as a longer period of decreased economic demand",
    "gold": "[Cause] the leverage of the Canadian consumer as a risk [Relation] cause [Effect] greater potential for consumer defaults as well as a longer period of decreased economic demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through the Danaher Business System, Danaher aims for continuous improvement of its scientific technology portfolio by seeking out attractive markets and then making acquisitions to enter or expand within those niches.",
    "output": "[Cause] seeking out attractive markets and then making acquisitions to enter or expand within those niches [Relation] enable [Effect] continuous improvement of its scientific technology portfolio",
    "gold": "[Cause] Danaher aims for continuous improvement of its scientific technology portfolio by seeking out attractive markets [Relation] enable [Effect] making acquisitions to enter or expand within those niches",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think this incremental shelf space sets the company up to perform well in the upcoming year, but we acknowledge that in order for its standing to persist, Conagra needs to continue to invest behind innovation and marketing, as its categories are highly competitive.",
    "output": "[Cause] its categories are highly competitive [Relation] cause [Effect] Conagra needs to continue to invest behind innovation and marketing",
    "gold": "[Cause]  Conagra needs to continue to invest behind innovation and marketing [Relation] enable [Effect] its standing to persist",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the limited capital needs of the business, historical returns on invested capital have been magnitudes greater than any reasonable estimate of the cost of capital.",
    "output": "[Cause] the limited capital needs of the business [Relation] cause [Effect] historical returns on invested capital have been magnitudes greater than any reasonable estimate of the cost of capital",
    "gold": "[Cause] the limited capital needs of the business [Relation] cause [Effect] historical returns on invested capital have been magnitudes greater than any reasonable estimate of the cost of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given CoreSite's focus on network connection and its small footprint, we don't think it would be as severely hurt by more efficient server utilization, as its uniquely connected properties and higher data demand would be mitigators.",
    "output": "[Cause] its uniquely connected properties and higher data demand would be mitigators [Relation] cause [Effect] we don't think it would be as severely hurt by more efficient server utilization",
    "gold": "[Cause] its uniquely connected properties and higher data demand would be mitigators | CoreSite's focus on network connection and its small footprint [Relation] cause [Effect] we don't think it would be as severely hurt by more efficient server utilization",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company operates in a mature oligopoly and the loss of large customers (high customer concentration), regulatory changes, significant litigation (opioid), entrant of a new competitor with significant resources or overall market dynamics could reduce the ability to negotiate with drug manufacturers and/or customers.",
    "output": "[Cause] The company operates in a mature oligopoly and the loss of large customers (high customer concentration), regulatory changes, significant litigation (opioid), entrant of a new competitor with significant resources or overall market dynamics [Relation] cause [Effect] reduce the ability to negotiate with drug manufacturers and/or customers",
    "gold": "[Cause] The company operates in a mature oligopoly and the loss of large customers (high customer concentration), regulatory changes, significant litigation (opioid), entrant of a new competitor with significant resources or overall market dynamics [Relation] cause [Effect]  reduce the ability to negotiate with drug manufacturers and/or customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're expecting severe near-term headwinds in Pratt & Whitney's commercial segment due to the COVID-19 pandemic, but we expect Pratt commercial will return to 2019 levels of revenue in 2024.",
    "output": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] severe near-term headwinds in Pratt & Whitney's commercial segment",
    "gold": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] severe near-term headwinds in Pratt & Whitney's commercial segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we think the threat from Amazon should not be dismissed, We think Amazon would struggle to replicate Wesco's product expertise and high-touch supply-chain management offerings, which should prevent Amazon from taking meaningful share from Wesco.",
    "output": "[Cause] Amazon would struggle to replicate Wesco's product expertise and high-touch supply-chain management offerings [Relation] prevent [Effect] Amazon from taking meaningful share from Wesco",
    "gold": "[Cause] Amazon would struggle to replicate Wesco's product expertise and high-touch supply-chain management offerings [Relation] prevent [Effect] Amazon from taking meaningful share from Wesco",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Still, the spread of the COVID-19 represented a material headwind to travel demand in 2020, and we estimate Airbnb's revenue decline 30% in 2020.",
    "output": "[Cause] the spread of the COVID-19 [Relation] prevent [Effect] travel demand in 2020",
    "gold": "[Cause]  a material headwind to travel demand in 2020 [Relation] cause [Effect] Airbnb's revenue decline 30% in 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As a result of this high dependence on top customers, Cadence cannot exercise a high degree of pricing power and risk losing business to competitors.",
    "output": "[Cause] this high dependence on top customers [Relation] cause [Effect] Cadence cannot exercise a high degree of pricing power and risk losing business to competitors",
    "gold": "[Cause] this high dependence on top customers [Relation] cause [Effect] Cadence cannot exercise a high degree of pricing power and risk losing business to competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Wells Fargo arguably has one of the best branch networks in the U.S., excels in the middle-market commercial space, and has a strong advisory network. This gives the bank many of the right pieces for a solid franchise, but operational execution, satisfying regulators, and restoring some operational efficiency remain issues that need to be solved.",
    "output": "[Cause] Wells Fargo arguably has one of the best branch networks in the U.S., excels in the middle-market commercial space, and has a strong advisory network [Relation] enable [Effect] gives the bank many of the right pieces for a solid franchise, but operational execution, satisfying regulators, and restoring some operational efficiency remain issues that need to be solved",
    "gold": "[Cause] Wells Fargo arguably has one of the best branch networks in the U.S., excels in the middle-market commercial space, and has a strong advisory network [Relation] enable [Effect] gives the bank many of the right pieces for a solid franchise, but operational execution, satisfying regulators, and restoring some operational efficiency remain issues that need to be solved",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customer growth continues well above 1% annually and infrastructure investments support our 6% annual long-term earnings growth outlook at the utility.",
    "output": "[Cause] infrastructure investments [Relation] enable [Effect] our 6% annual long-term earnings growth outlook at the utility",
    "gold": "[Cause] infrastructure investments [Relation] cause [Effect] our 6% annual long-term earnings growth outlook at the utility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As preferences in North America and Europe increasingly favor fresh food and consumer packaged goods companies shift to plastics to reduce costs, operating rates have softened.",
    "output": "[Cause] preferences in North America and Europe increasingly favor fresh food and consumer packaged goods companies shift to plastics to reduce costs [Relation] cause [Effect] operating rates have softened",
    "gold": "[Cause] preferences in North America and Europe increasingly favor fresh food and consumer packaged goods companies shift to plastics to reduce costs [Relation] cause [Effect] operating rates have softened",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, the company's high fixed costs create a substantial degree of operating leverage that makes for wide profitability swings in response to relatively small changes in demand.",
    "output": "[Cause] the company's high fixed costs create a substantial degree of operating leverage [Relation] cause [Effect] wide profitability swings in response to relatively small changes in demand",
    "gold": "[Cause] the company's high fixed costs create a substantial degree of operating leverage [Relation] cause [Effect] wide profitability swings in response to relatively small changes in demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The process for producing ready-mixed concrete doesn't have the extreme adverse environmental impact of either cement or aggregates, so opening a new mixing facility tends to meet far less opposition.",
    "output": "[Cause] The process for producing ready-mixed concrete doesn't have the extreme adverse environmental impact of either cement or aggregates [Relation] cause [Effect] opening a new mixing facility tends to meet far less opposition",
    "gold": "[Cause] The process for producing ready-mixed concrete doesn't have the extreme adverse environmental impact of either cement or aggregates [Relation] cause [Effect] opening a new mixing facility tends to meet far less opposition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Chevron's returns on capital have suffered during the last five years as a period of high investment was followed by one of low commodity prices.",
    "output": "[Cause] a period of high investment was followed by one of low commodity prices [Relation] cause [Effect] Chevron's returns on capital have suffered during the last five years",
    "gold": "[Cause] a period of high investment was followed by one of low commodity prices [Relation] cause [Effect] Chevron's returns on capital have suffered during the last five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After an expected decline in the next two years as the lower-margin video ad segment picks up growth as content approval and the macroeconomic environment normalize, we expect online ad margins will gradually increase as higher-margin social and other advertising is expected to grow faster than media advertising.",
    "output": "[Cause] content approval and the macroeconomic environment normalize [Relation] cause [Effect] an expected decline in the next two years",
    "gold": "[Cause] content approval and the macroeconomic environment normalize [Relation] enable [Effect] the lower-margin video ad segment picks up growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After an expected decline in the next two years as the lower-margin video ad segment picks up growth as content approval and the macroeconomic environment normalize, we expect online ad margins will gradually increase as higher-margin social and other advertising is expected to grow faster than media advertising.",
    "output": "[Cause] content approval and the macroeconomic environment normalize [Relation] cause [Effect] an expected decline in the next two years",
    "gold": "[Cause] the lower-margin video ad segment picks up growth [Relation] cause [Effect] an expected decline in the next two years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After an expected decline in the next two years as the lower-margin video ad segment picks up growth as content approval and the macroeconomic environment normalize, we expect online ad margins will gradually increase as higher-margin social and other advertising is expected to grow faster than media advertising.",
    "output": "[Cause] content approval and the macroeconomic environment normalize [Relation] cause [Effect] an expected decline in the next two years",
    "gold": "[Cause] higher-margin social and other advertising is expected to grow faster than media advertising [Relation] enable [Effect] online ad margins will gradually increase",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We are raising our fair value estimate for Ingersoll-Rand to $46 from $41 after the company announced solid fourth-quarter results.",
    "output": "[Cause] the company announced solid fourth-quarter results [Relation] cause [Effect] We are raising our fair value estimate for Ingersoll-Rand to $46 from $41",
    "gold": "[Cause]  the company announced solid fourth-quarter results [Relation] cause [Effect] We are raising our fair value estimate for Ingersoll-Rand to $46 from $41",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thanks to vast national networks of laboratories, the two firms have created barriers to entry and generated substantial cost advantages over regional and hospital labs.",
    "output": "[Cause] vast national networks of laboratories [Relation] cause [Effect] the two firms have created barriers to entry and generated substantial cost advantages over regional and hospital labs",
    "gold": "[Cause] vast national networks of laboratories [Relation] cause [Effect] the two firms have created barriers to entry and generated substantial cost advantages over regional and hospital labs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the last five years, Shell has taken the necessary steps to remain competitive in a world of $60/barrel oil by reducing its cost base, which had become bloated after years of high oil prices.",
    "output": "[Cause] Shell has taken the necessary steps to remain competitive in a world of $60/barrel oil by reducing its cost base [Relation] cause [Effect] became bloated after years of high oil prices",
    "gold": "[Cause] Shell has taken the necessary steps to remain competitive in a world of $60/barrel oil by reducing its cost base [Relation] cause [Effect] become bloated after years of high oil prices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm's returns on invested capital support our contention, as it has consistently generated adjusted ROICs above our 9% weighted average cost of capital estimate.",
    "output": "[Cause] it has consistently generated adjusted ROICs above our 9% weighted average cost of capital estimate [Relation] cause [Effect] The firm's returns on invested capital support our contention",
    "gold": "[Cause] it has consistently generated adjusted ROICs above our 9% weighted average cost of capital estimate [Relation] cause [Effect] The firm's returns on invested capital support our contention",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Okta's solutions becoming more widely accepted have allowed it to gain larger customer accounts, and we believe the company still has a momentous opportunity with the world's largest institutions.",
    "output": "[Cause] Okta's solutions becoming more widely accepted [Relation] enable [Effect] it to gain larger customer accounts",
    "gold": "[Cause] Okta's solutions becoming more widely accepted [Relation] enable [Effect] it to gain larger customer accounts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We acknowledge that consolidation (and the increased economies of scale that follow for industry leaders) typically leads to greater price competition, and we expect this to continue in the years to come as China's consumers remain value-conscious amid uneven macroeconomic conditions.",
    "output": "[Cause] consolidation [Relation] cause [Effect] greater price competition",
    "gold": "[Cause]  consolidation [Relation] cause [Effect]  greater price competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Combined with strong revenue growth, we expect slight deceleration of growth in other operating expenses to increase operating leverage for Alphabet through 2025.",
    "output": "[Cause] slight deceleration of growth in other operating expenses [Relation] cause [Effect] increase operating leverage for Alphabet through 2025",
    "gold": "[Cause] slight deceleration of growth in other operating expenses [Relation] enable [Effect] increase operating leverage for Alphabet through 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This is reflected in the advent of systems companies such as Tesla designing more chips in-house, thus expanding Cadence's customer base beyond traditional semiconductor designers.",
    "output": "[Cause] This is reflected in the advent of systems companies such as Tesla designing more chips in-house [Relation] enable [Effect] expanding Cadence's customer base beyond traditional semiconductor designers",
    "gold": "[Cause] This is reflected in the advent of systems companies such as Tesla designing more chips in-house [Relation] enable [Effect] expanding Cadence's customer base beyond traditional semiconductor designers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A reversal could cut demand as part failure is tied to vehicle age; similarly, a long-term reduction in miles driven could reduce wear and tear.",
    "output": "[Cause] part failure is tied to vehicle age [Relation] cause [Effect] A reversal could cut demand",
    "gold": "[Cause] part failure is tied to vehicle age [Relation] cause [Effect] A reversal could cut demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A reversal could cut demand as part failure is tied to vehicle age; similarly, a long-term reduction in miles driven could reduce wear and tear.",
    "output": "[Cause] a long-term reduction in miles driven [Relation] enable [Effect] reduce wear and tear",
    "gold": "[Cause] a long-term reduction in miles driven [Relation] cause [Effect] reduce wear and tear",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We give Waters a medium uncertainty rating thanks to its sticky end markets, especially pharmaceuticals, that should result in relatively steady demand trends, despite more variability in its other major end markets--industrials and academic/government.",
    "output": "[Cause] its sticky end markets, especially pharmaceuticals [Relation] cause [Effect] We give Waters a medium uncertainty rating",
    "gold": "[Cause] its sticky end markets, especially pharmaceuticals [Relation] enable [Effect]  relatively steady demand trends",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We give Waters a medium uncertainty rating thanks to its sticky end markets, especially pharmaceuticals, that should result in relatively steady demand trends, despite more variability in its other major end markets--industrials and academic/government.",
    "output": "[Cause] its sticky end markets, especially pharmaceuticals [Relation] cause [Effect] We give Waters a medium uncertainty rating",
    "gold": "[Cause] its sticky end markets, especially pharmaceuticals [Relation] cause [Effect] We give Waters a medium uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The financial impact can be even more pronounced if there is a 2 Jun 2021 05:00, UTCswift and significant drop in housing demand because homebuilders have less time to adjust to a revised demand outlook.",
    "output": "[Cause] homebuilders have less time to adjust to a revised demand outlook [Relation] cause [Effect] The financial impact can be even more pronounced if there is a 2 Jun 2021 05:00, UTCswift and significant drop in housing demand",
    "gold": "[Cause] homebuilders have less time to adjust to a revised demand outlook [Relation] cause [Effect] The financial impact can be even more pronounced if there is a 2 Jun 2021 05:00, UTCswift and significant drop in housing demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we think focusing on emerging markets will cause margin contraction because of price declines triggered by fierce competition, a worsening product mix, and use of third-party supplies instead of high-margin genuine toners, which is popular in these areas.",
    "output": "[Cause] fierce competition, a worsening product mix, and use of third-party supplies instead of high-margin genuine toners [Relation] cause [Effect] price declines",
    "gold": "[Cause]  focusing on emerging markets [Relation] cause [Effect] margin contraction",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we think focusing on emerging markets will cause margin contraction because of price declines triggered by fierce competition, a worsening product mix, and use of third-party supplies instead of high-margin genuine toners, which is popular in these areas.",
    "output": "[Cause] fierce competition, a worsening product mix, and use of third-party supplies instead of high-margin genuine toners, which is popular in these areas [Relation] cause [Effect] price declines",
    "gold": "[Cause] fierce competition, a worsening product mix, and use of third-party supplies instead of high-margin genuine toners, which is popular in these areas [Relation] cause [Effect] price declines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Effective cost-cutting is likely to keep F&amp;D down, but more is probably needed for returns to improve in the current low-oil-price environment.",
    "output": "[Cause] Effective cost-cutting [Relation] enable [Effect] keep F&amp;D down",
    "gold": "[Cause] in the current low-oil-price environment [Relation] enable [Effect]  more is probably needed for returns to improve",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think the deal has strategic merit as it expands Prudential's direct-to-consumer reach to less affluent customers and AssuranceIQ's fee-based revenue has limited exposure to capital 7 Jul 2021 05:00, UTCmarkets.",
    "output": "[Cause] it expands Prudential's direct-to-consumer reach to less affluent customers [Relation] cause [Effect] the deal has strategic merit",
    "gold": "[Cause] it expands Prudential's direct-to-consumer reach to less affluent customers [Relation] cause [Effect] the deal has strategic merit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the deal has strategic merit as it expands Prudential's direct-to-consumer reach to less affluent customers and AssuranceIQ's fee-based revenue has limited exposure to capital 7 Jul 2021 05:00, UTCmarkets.",
    "output": "[Cause] it expands Prudential's direct-to-consumer reach to less affluent customers [Relation] cause [Effect] the deal has strategic merit",
    "gold": "[Cause] AssuranceIQ's fee-based revenue [Relation] prevent [Effect] exposure to capital 7 Jul 2021 05:00, UTCmarkets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As Broadridge continues to gain scale and generate synergies from recent M&A, we expect investor communication solutions segment operating margins (net of distribution revenue) of about 26% in fiscal 2025.",
    "output": "[Cause] Broadridge continues to gain scale and generate synergies from recent M&A [Relation] cause [Effect] investor communication solutions segment operating margins (net of distribution revenue) of about 26% in fiscal 2025",
    "gold": "[Cause] recent M&A [Relation] enable [Effect] generate synergies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We're lowering our sales forecast due to a second wave of restaurant closures in Europe, but this is more than offset by bad debt swinging to a credit from an expense, as collections have been stronger than reserved for.",
    "output": "[Cause] bad debt swinging to a credit from an expense [Relation] cause [Effect] We're lowering our sales forecast",
    "gold": "[Cause] collections have been stronger than reserved for [Relation] cause [Effect] bad debt swinging to a credit from an expense",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Sanofi has compiled a robust group of late-stage pipeline products that complement its existing lineup and should help mitigate patent losses.",
    "output": "[Cause] complement its existing lineup [Relation] enable [Effect] help mitigate patent losses",
    "gold": "[Cause] complement its existing lineup and should help mitigate patent losses [Relation] cause [Effect] Sanofi has compiled a robust group of late-stage pipeline products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Air Products' fiscal first-quarter adjusted EPS of $2.12 fell $0.06 short of the FactSet consensus estimate, as ongoing COVID-19 challenges as well as a lower contribution from the Lu'An gasification project had a negative impact on the industrial gas firm's results.",
    "output": "[Cause] ongoing COVID-19 challenges as well as a lower contribution from the Lu'An gasification project had a negative impact on the industrial gas firm's results [Relation] cause [Effect] Air Products' fiscal first-quarter adjusted EPS of $2.12 fell $0.06 short of the FactSet consensus estimate",
    "gold": "[Cause] ongoing COVID-19 challenges as well as a lower contribution from the Lu'An gasification project had a negative impact on the industrial gas firm's results [Relation] cause [Effect] Air Products' fiscal first-quarter adjusted EPS of $2.12 fell $0.06 short of the FactSet consensus estimate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the impact from climate change will be incremental, as the industry and academic institutions are studying ways to grow crops in warmer climates.",
    "output": "[Cause] the industry and academic institutions are studying ways to grow crops in warmer climates [Relation] cause [Effect] the impact from climate change will be incremental",
    "gold": "[Cause]  the industry and academic institutions are studying ways to grow crops in warmer climates [Relation] cause [Effect] the impact from climate change will be incremental",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We continue to see significant secular headwinds for HDD demand in PCs, including both an ongoing decline in annual PC unit sales and SSDs replacing HDDs in new PCs.",
    "output": "[Cause] both an ongoing decline in annual PC unit sales and SSDs replacing HDDs in new PCs [Relation] cause [Effect] significant secular headwinds for HDD demand in PCs",
    "gold": "[Cause] significant secular headwinds for HDD demand in PCs [Relation] prevent [Effect] an ongoing decline in annual PC unit sales and SSDs replacing HDDs in new PCs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, thanks to strong top-line growth from Adcetris and Padcev, we believe the company will earn positive profits in 2022.",
    "output": "[Cause] strong top-line growth from Adcetris and Padcev [Relation] enable [Effect] the company will earn positive profits in 2022",
    "gold": "[Cause] strong top-line growth from Adcetris and Padcev [Relation] enable [Effect]  the company will earn positive profits in 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There is little brand switching after the first year with a stoma once patients become familiar with one brand's system. Thus, Coloplast puts its marketing resources into working with ostomy nurses who help teach new patients how to care for their stomas and providing post-acute patient support to troubleshoot usage issues.",
    "output": "[Cause] There is little brand switching after the first year with a stoma once patients become familiar with one brand's system [Relation] cause [Effect] Coloplast puts its marketing resources into working with ostomy nurses who help teach new patients how to care for their stomas and providing post-acute patient support to troubleshoot usage issues",
    "gold": "[Cause] There is little brand switching after the first year with a stoma once patients become familiar with one brand's system [Relation] cause [Effect] Coloplast puts its marketing resources into working with ostomy nurses who help teach new patients how to care for their stomas and providing post-acute patient support to troubleshoot usage issues",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "So, while PNC will become a more efficient operator over time, so will its competitors, leading us to question just how much better it can execute these changes than others.",
    "output": "[Cause] PNC will become a more efficient operator over time, so will its competitors [Relation] cause [Effect] question just how much better it can execute these changes than others",
    "gold": "[Cause] PNC will become a more efficient operator [Relation] enable [Effect]  so will its competitors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Fierce competition from global staffers like Adecco, Randstad, and Robert Half will likely constrain Manpower's ability to poach clients from competitors, and we expect the firm to concede on price in order to maintain position volumes.",
    "output": "[Cause] Fierce competition from global staffers like Adecco, Randstad, and Robert Half [Relation] prevent [Effect] Manpower's ability to poach clients from competitors",
    "gold": "[Cause] Fierce competition from global staffers like Adecco, Randstad, and Robert Half [Relation] prevent [Effect] Manpower's ability to poach clients from competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fierce competition from global staffers like Adecco, Randstad, and Robert Half will likely constrain Manpower's ability to poach clients from competitors, and we expect the firm to concede on price in order to maintain position volumes.",
    "output": "[Cause] the firm to concede on price [Relation] enable [Effect] maintain position volumes",
    "gold": "[Cause] maintain position volumes [Relation] cause [Effect] the firm to concede on price",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In terms of cost advantage, increasing fleet size doesn't automatically translate into lower costs. This is partly because a truckload carrier can't boost route density by adding more customers since by definition it hauls a full-trailer load from point A to point B for one customer at a time.",
    "output": "[Cause] a truckload carrier can't boost route density by adding more customers since by definition it hauls a full-trailer load from point A to point B for one customer at a time [Relation] cause [Effect] In terms of cost advantage, increasing fleet size doesn't automatically translate into lower costs",
    "gold": "[Cause] a truckload carrier can't boost route density by adding more customers since by definition it hauls a full-trailer load from point A to point B for one customer at a time [Relation] cause [Effect] In terms of cost advantage, increasing fleet size doesn't automatically translate into lower costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have lowered our uncertainty rating to medium, which is in line with its health insurance peers, as the firm has deleveraged after the Express Scripts merger.",
    "output": "[Cause] the firm has deleveraged after the Express Scripts merger [Relation] cause [Effect] We have lowered our uncertainty rating to medium, which is in line with its health insurance peers",
    "gold": "[Cause] the firm has deleveraged after the Express Scripts merger [Relation] cause [Effect] We have lowered our uncertainty rating to medium, which is in line with its health insurance peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Increasing interest in on-demand content also places fixed-line networks in a much better position relative to satellite, as these firms can provide much larger VOD libraries or simply provide Internet access to those customers who only want content from online services like Netflix.",
    "output": "[Cause] these firms can provide much larger VOD libraries or simply provide Internet access to those customers who only want content from online services like Netflix [Relation] cause [Effect] Increasing interest in on-demand content also places fixed-line networks in a much better position relative to satellite",
    "gold": "[Cause] Increasing interest [Relation] cause [Effect] fixed-line networks in a much better position relative to satellite",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also expect incremental productivity gains to persist in the years ahead as UP continues to refine its PSR playbook--we bake in a midcycle OR of 55.0%-55.5%.",
    "output": "[Cause] UP continues to refine its PSR playbook [Relation] cause [Effect] incremental productivity gains to persist in the years ahead",
    "gold": "[Cause] UP continues to refine its PSR playbook [Relation] enable [Effect] we bake in a midcycle OR of 55.0%-55.5%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In Frank's Tubular Running Services segment, we expect strong revenue growth in coming years thanks to an industrywide deepwater activity recovery.",
    "output": "[Cause] an industrywide deepwater activity recovery [Relation] cause [Effect] strong revenue growth in coming years",
    "gold": "[Cause] an industrywide deepwater activity recovery [Relation] enable [Effect] strong revenue growth in coming years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the expanding mobile market, we believe Google will not only maintain but expand its user base, positively affecting the network effect as it becomes more valuable to advertisers, resulting in more digital mobile ad revenue growth.",
    "output": "[Cause] it becomes more valuable to advertisers [Relation] cause [Effect] positively affecting the network effect",
    "gold": "[Cause] Google will not only maintain but expand its user base [Relation] cause [Effect] positively affecting the network effect as it becomes more valuable to advertisers, resulting in more digital mobile ad revenue growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the expanding mobile market, we believe Google will not only maintain but expand its user base, positively affecting the network effect as it becomes more valuable to advertisers, resulting in more digital mobile ad revenue growth.",
    "output": "[Cause] it becomes more valuable to advertisers [Relation] cause [Effect] positively affecting the network effect",
    "gold": "[Cause]  it becomes more valuable to advertisers [Relation] cause [Effect] positively affecting the network effect",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, an extended slide could prove to be a headwind, offsetting tailwinds from vehicle age (11.9 years in 2020 versus 10.6 years in 2010) and a rising number of vehicles in the core of part retailers' addressable market.",
    "output": "[Cause] offsetting tailwinds from vehicle age (11.9 years in 2020 versus 10.6 years in 2010) and a rising number of vehicles in the core of part retailers' addressable market [Relation] cause [Effect] an extended slide could prove to be a headwind",
    "gold": "[Cause] offsetting tailwinds from vehicle age (11.9 years in 2020 versus 10.6 years in 2010) and a rising number of vehicles in the core of part retailers' addressable market [Relation] cause [Effect] an extended slide could prove to be a headwind",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Home Depot's sales are largely driven by greater consumer willingness to spend on category goods, thanks to still-rising existing-home prices and decent turnover.",
    "output": "[Cause] still-rising existing-home prices and decent turnover [Relation] enable [Effect] Home Depot's sales are largely driven by greater consumer willingness to spend on category goods",
    "gold": "[Cause]  still-rising existing-home prices and decent turnover [Relation] cause [Effect] Home Depot's sales are largely driven by greater consumer willingness to spend on category goods",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ulta's capital expenditures as a percentage of revenue averaged nearly 7% over the past 10 years as the company expanded.",
    "output": "[Cause] the company expanded [Relation] cause [Effect] Ulta's capital expenditures as a percentage of revenue averaged nearly 7% over the past 10 years",
    "gold": "[Cause]  the company expanded [Relation] cause [Effect] Ulta's capital expenditures as a percentage of revenue averaged nearly 7% over the past 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The complexity of ultrahigh-net-worth individuals' needs makes it unlikely that artificial intelligent solutions (robo-advisors) will be able to replicate the benefits of having a relationship manager.",
    "output": "[Cause] The complexity of ultrahigh-net-worth individuals' needs [Relation] cause [Effect] it unlikely that artificial intelligent solutions (robo-advisors) will be able to replicate the benefits of having a relationship manager",
    "gold": "[Cause] The complexity of ultrahigh-net-worth individuals' needs [Relation] cause [Effect]  it unlikely that artificial intelligent solutions (robo-advisors) will be able to replicate the benefits of having a relationship manager",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Norfolk is capable of a midcycle OR near 58.5%, though we see some upside potential to that metric if the firm can further close the margin gap relative to peers as it drives greater asset utilization under PSR.",
    "output": "[Cause] it drives greater asset utilization under PSR [Relation] cause [Effect] we see some upside potential to that metric",
    "gold": "[Cause]  it drives greater asset utilization under PSR [Relation] cause [Effect]  if the firm can further close the margin gap relative to peers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "During 2011-20, the firm's organic growth rate averaged 0.5% annually, with a standard deviation of 2.9%, leaving the firm on much better footing that most of its equity-heavy active management peers.",
    "output": "[Cause] the firm's organic growth rate averaged 0.5% annually, with a standard deviation of 2.9% [Relation] enable [Effect] the firm on much better footing than most of its equity-heavy active management peers",
    "gold": "[Cause] During 2011-20, the firm's organic growth rate averaged 0.5% annually, with a standard deviation of 2.9% [Relation] enable [Effect]  the firm on much better footing that most of its equity-heavy active management peers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Recent geopolitical developments surrounding the assassination of journalist Jamal Khashoggi at the Saudi consulate in Istanbul and Saudi Arabia's involvement in the war in Yemen have led to pressure from the U.K.'s allies to suspend support.",
    "output": "[Cause] geopolitical developments surrounding the assassination of journalist Jamal Khashoggi at the Saudi consulate in Istanbul and Saudi Arabia's involvement in the war in Yemen [Relation] cause [Effect] pressure from the U.K.'s allies to suspend support",
    "gold": "[Cause] geopolitical developments surrounding the assassination of journalist Jamal Khashoggi at the Saudi consulate in Istanbul and Saudi Arabia's involvement in the war in Yemen [Relation] cause [Effect] pressure from the U.K.'s allies to suspend support",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Most of its stores and those of its wholesale partners were forced to close temporarily due to the COVID-19 pandemic.",
    "output": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] Most of its stores and those of its wholesale partners were forced to close temporarily",
    "gold": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] Most of its stores and those of its wholesale partners were forced to close temporarily",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This implicit contract between regulators and capital providers should, on balance, allow NiSource's regulated utilities to achieve at least their costs of capital, though observable returns might vary in the short run based on demand trends, investment cycles, operating costs, and access to financing.",
    "output": "[Cause] This implicit contract between regulators and capital providers [Relation] enable [Effect] NiSource's regulated utilities to achieve at least their costs of capital",
    "gold": "[Cause]  demand trends, investment cycles, operating costs, and access to financing [Relation] cause [Effect] observable returns might vary in the short run",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the option between guaranteed performance and incremental cost savings making up potentially less than 0.1% of the total bill of materials, we think OEMs will choose the former.",
    "output": "[Cause] the option between guaranteed performance and incremental cost savings making up potentially less than 0.1% of the total bill of materials [Relation] cause [Effect] OEMs will choose the former",
    "gold": "[Cause] the option between guaranteed performance and incremental cost savings making up potentially less than 0.1% of the total bill of materials [Relation] cause [Effect] OEMs will choose the former",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, the industry shrank from revenue of $23.4 billion in 2001 to $14.8 billion in 2010, according to the International Federation of the Phonographic Industry, as the slow growth in digital download sales was nowhere close to enough to offset the rapid drop in physical media sales.",
    "output": "[Cause] the slow growth in digital download sales was nowhere close to enough to offset the rapid drop in physical media sales [Relation] cause [Effect] the industry shrank from revenue of $23.4 billion in 2001 to $14.8 billion in 2010",
    "gold": "[Cause] the slow growth in digital download sales [Relation] cause [Effect] nowhere close to enough to offset the rapid drop in physical media sales",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given recent ERISA litigation, we believe plan sponsors are increasingly discerning on fees and able and willing to switch to another provider for favorable pricing.",
    "output": "[Cause] recent ERISA litigation [Relation] cause [Effect] plan sponsors are increasingly discerning on fees and able and willing to switch to another provider for favorable pricing",
    "gold": "[Cause]  recent ERISA litigation [Relation] enable [Effect]  plan sponsors are increasingly discerning on fees and able and willing to switch to another provider for favorable pricing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, ISG's networking competitors are also moving toward selling a more holistic suite of products for a digital infrastructure that could affect pricing and upselling opportunities.",
    "output": "[Cause] ISG's networking competitors are also moving toward selling a more holistic suite of products for a digital infrastructure [Relation] cause [Effect] affect pricing and upselling opportunities",
    "gold": "[Cause] ISG's networking competitors are also moving toward selling a more holistic suite of products for a digital infrastructure [Relation] cause [Effect] affect pricing and upselling opportunities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also believe the firm's growth opportunities should persist over the long term as emerging markets (a third of sales) still spend significantly less than developed markets on prestige beauty.",
    "output": "[Cause] emerging markets (a third of sales) still spend significantly less than developed markets on prestige beauty [Relation] cause [Effect] the firm's growth opportunities should persist over the long term",
    "gold": "[Cause] emerging markets (a third of sales) still spend significantly less than developed markets on prestige beauty [Relation] cause [Effect] the firm's growth opportunities should persist over the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, organic growth and market gains could be strained in the near to medium term by the lingering effects of the COVID-19 pandemic could have on economic growth and the equity and credit markets.",
    "output": "[Cause] the lingering effects of the COVID-19 pandemic could have on economic growth and the equity and credit markets [Relation] cause [Effect] organic growth and market gains could be strained in the near to medium term",
    "gold": "[Cause]  the lingering effects of the COVID-19 pandemic could have on economic growth and the equity and credit markets [Relation] cause [Effect] organic growth and market gains could be strained in the near to medium term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the brokerage side, Aon's primary exposure is to the insurance pricing cycle, as commissions are often calculated as a percentage of premium.",
    "output": "[Cause] commissions are often calculated as a percentage of premium [Relation] cause [Effect] Aon's primary exposure is to the insurance pricing cycle",
    "gold": "[Cause]  commissions are often calculated as a percentage of premium [Relation] cause [Effect] Aon's primary exposure is to the insurance pricing cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Long term we expect annual revenue growth of just over 6%, as a budding middle class is steadily driving higher per capita consumption of beauty products across the globe.",
    "output": "[Cause] a budding middle class is steadily driving higher per capita consumption of beauty products across the globe [Relation] cause [Effect] annual revenue growth of just over 6%",
    "gold": "[Cause] a budding middle class is steadily driving higher per capita consumption of beauty products across the globe [Relation] enable [Effect] annual revenue growth of just over 6%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also believe Accenture benefits from high customer switching costs as the company's key customers are loath to switch service providers for large or ongoing contracts.",
    "output": "[Cause] the company's key customers are loath to switch service providers for large or ongoing contracts [Relation] cause [Effect] Accenture benefits from high customer switching costs",
    "gold": "[Cause] the company's key customers are loath to switch service providers for large or ongoing contracts [Relation] enable [Effect] Accenture benefits from high customer switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our view is that particular enterprise grade software can drive switching costs through the time and costs to deploy and adopt the solutions, the software acumen that could be lost from changing platforms, and the high risks associated with business disruption or lost data.",
    "output": "[Cause] particular enterprise grade software [Relation] enable [Effect] drive switching costs through the time and costs to deploy and adopt the solutions",
    "gold": "[Cause] particular enterprise grade software [Relation] enable [Effect] drive switching costs through the time and costs to deploy and adopt the solutions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our view is that particular enterprise grade software can drive switching costs through the time and costs to deploy and adopt the solutions, the software acumen that could be lost from changing platforms, and the high risks associated with business disruption or lost data.",
    "output": "[Cause] the high risks associated with business disruption or lost data [Relation] cause [Effect] the software acumen that could be lost from changing platforms",
    "gold": "[Cause] changing platforms [Relation] cause [Effect] software acumen that could be lost",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The mixed-use combination is becoming increasingly popular with residents, as they get a more urban experience in the suburbs, and retailers, as they have a captured population that will be driven to their storefronts and be insulated from e-commerce.",
    "output": "[Cause] they get a more urban experience in the suburbs [Relation] cause [Effect] The mixed-use combination is becoming increasingly popular with residents",
    "gold": "[Cause] they get a more urban experience in the suburbs [Relation] cause [Effect] The mixed-use combination is becoming increasingly popular with residents",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The mixed-use combination is becoming increasingly popular with residents, as they get a more urban experience in the suburbs, and retailers, as they have a captured population that will be driven to their storefronts and be insulated from e-commerce.",
    "output": "[Cause] they have a captured population that will be driven to their storefronts and be insulated from e-commerce [Relation] cause [Effect] The mixed-use combination is becoming increasingly popular with residents",
    "gold": "[Cause]  they have a captured population that will be driven to their storefronts and be insulated from e-commerce [Relation] cause [Effect]  retailers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our unit growth forecast averages 4.3% annually over the next decade, supported by a favorable position with next-generation travelers, new brand growth, and a strong pipeline.",
    "output": "[Cause] a favorable position with next-generation travelers, new brand growth, and a strong pipeline [Relation] enable [Effect] Our unit growth forecast averages 4.3% annually over the next decade",
    "gold": "[Cause]  a favorable position with next-generation travelers, new brand growth, and a strong pipeline [Relation] enable [Effect] Our unit growth forecast averages 4.3% annually over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While all Corning's segments sell into very different applications, Corning is a leader in each one due to its proficiency in materials science, gained through 170 years of operation and innovation.",
    "output": "[Cause] its proficiency in materials science, gained through 170 years of operation and innovation [Relation] cause [Effect] Corning is a leader in each one",
    "gold": "[Cause] Corning is a leader in each one due to its proficiency in materials science, gained through 170 years of operation and innovation [Relation] enable [Effect] all Corning's segments sell into very different applications",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We do not necessarily think revenue growth is the optimal key performance indicator, however, as we have doubts over the profitability of categories such as vaping, which has lower barriers to entry and lower margins than the traditional tobacco categories.",
    "output": "[Cause] we have doubts over the profitability of categories such as vaping, which has lower barriers to entry and lower margins than the traditional tobacco categories [Relation] cause [Effect] We do not necessarily think revenue growth is the optimal key performance indicator",
    "gold": "[Cause] we have doubts over the profitability of categories such as vaping, which has lower barriers to entry and lower margins than the traditional tobacco categories [Relation] cause [Effect] We do not necessarily think revenue growth is the optimal key performance indicator",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With such an extensive government presence and the fact that private student loans are typically the second choice for student borrowers, we think it will probably be difficult for Discover to prevent its student lending business from becoming commoditized over time, given its lack of competitive advantage.",
    "output": "[Cause] its lack of competitive advantage [Relation] cause [Effect] it will probably be difficult for Discover to prevent its student lending business from becoming commoditized over time",
    "gold": "[Cause] its lack of competitive advantage [Relation] cause [Effect] it will probably be difficult for Discover to prevent its student lending business from becoming commoditized over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also believe it is likely that a Tier 1 multiline carrier eventually serves as a proving ground with Guidewire SaaS solutions at the core of its life insurance operations, which will open up another large growth vector for the company.",
    "output": "[Cause] a Tier 1 multiline carrier eventually serves as a proving ground with Guidewire SaaS solutions at the core of its life insurance operations [Relation] enable [Effect] open up another large growth vector for the company",
    "gold": "[Cause] a Tier 1 multiline carrier eventually serves as a proving ground with Guidewire SaaS solutions at the core of its life insurance operations [Relation] cause [Effect] open up another large growth vector for the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Pipeline operators will enter into long-term contracts with shippers to recover the project's construction and development costs in exchange for a reasonable tariff that allows a shipper to capture a profitable differential, and capacity will be added until it is no longer profitable to do so.",
    "output": "[Cause] recover the project's construction and development costs in exchange for a reasonable tariff [Relation] enable [Effect] a shipper to capture a profitable differential",
    "gold": "[Cause]  recover the project's construction and development costs in exchange for a reasonable tariff [Relation] cause [Effect] Pipeline operators will enter into long-term contracts with shippers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Pipeline operators will enter into long-term contracts with shippers to recover the project's construction and development costs in exchange for a reasonable tariff that allows a shipper to capture a profitable differential, and capacity will be added until it is no longer profitable to do so.",
    "output": "[Cause] recover the project's construction and development costs in exchange for a reasonable tariff [Relation] enable [Effect] a shipper to capture a profitable differential",
    "gold": "[Cause]  recover the project's construction and development costs in exchange for a reasonable tariff [Relation] enable [Effect] a shipper to capture a profitable differential",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In order to remain relevant to scientists in early project phases, Agilent must continue to innovate, and that ability to innovate contributes to its intangible assets in this business, as well.",
    "output": "[Cause] Agilent must continue to innovate [Relation] enable [Effect] remain relevant to scientists in early project phases",
    "gold": "[Cause] Agilent must continue to innovate [Relation] enable [Effect] remain relevant to scientists in early project phases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In order to remain relevant to scientists in early project phases, Agilent must continue to innovate, and that ability to innovate contributes to its intangible assets in this business, as well.",
    "output": "[Cause] Agilent must continue to innovate [Relation] enable [Effect] its intangible assets in this business",
    "gold": "[Cause] that ability to innovate [Relation] enable [Effect] its intangible assets in this business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect net earned premiums to grow at a modest 3% compound annual rate over our five-year forecast, with near-term pressure due to the economic impact of the coronavirus giving way to better growth over time as pricing improves.",
    "output": "[Cause] the economic impact of the coronavirus giving way to better growth over time as pricing improves [Relation] cause [Effect] net earned premiums to grow at a modest 3% compound annual rate over our five-year forecast, with near-term pressure",
    "gold": "[Cause]  the economic impact of the coronavirus [Relation] cause [Effect]  giving way to better growth over time as pricing improves",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Yum China's products are largely sourced locally (save for certain herbs and spices), which we believe helps to keep costs manageable and positions KFC and Pizza Hut as more ''''''''authentic'''''''' Chinese brands (despite their obvious Western roots) while strengthening the company's relationships with national and regional government officials.",
    "output": "[Cause] Yum China's products are largely sourced locally (save for certain herbs and spices) [Relation] enable [Effect] helps to keep costs manageable and positions KFC and Pizza Hut as more ''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''",
    "gold": "[Cause] Yum China's products are largely sourced locally (save for certain herbs and spices) [Relation] enable [Effect] keep costs manageable and positions KFC and Pizza Hut as more ''''''''authentic'''''''' Chinese brands (despite their obvious Western roots) while strengthening the company's relationships with national and regional government officials",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While location plays a key role in the strength of a portfolio, the massive size of most facilities is such that they are typically located near densely populated areas instead of in them.",
    "output": "[Cause] the massive size of most facilities [Relation] cause [Effect] they are typically located near densely populated areas instead of in them",
    "gold": "[Cause] the massive size of most facilities [Relation] enable [Effect] they are typically located near densely populated areas instead of in them",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even as much of the downside risk is mitigated by sufficiently contracted capacity, failure of NGL or petrochemical demand to materialize would cap Enterprise's earnings upside.",
    "output": "[Cause] sufficiently contracted capacity [Relation] prevent [Effect] much of the downside risk",
    "gold": "[Cause] sufficiently contracted capacity [Relation] prevent [Effect] much of the downside risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even as much of the downside risk is mitigated by sufficiently contracted capacity, failure of NGL or petrochemical demand to materialize would cap Enterprise's earnings upside.",
    "output": "[Cause] failure of NGL or petrochemical demand to materialize [Relation] prevent [Effect] Enterprise's earnings upside",
    "gold": "[Cause] failure of NGL or petrochemical demand to materialize [Relation] prevent [Effect] Enterprise's earnings upside",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, since 2012, HCA has focused on investing in its surgical suites to improve efficiency, nursing, and technology offerings to appeal to surgeons scheduling those procedures.",
    "output": "[Cause] HCA has focused on investing in its surgical suites [Relation] enable [Effect] improve efficiency, nursing, and technology offerings to appeal to surgeons scheduling those procedures",
    "gold": "[Cause] improve efficiency, nursing, and technology offerings [Relation] enable [Effect] appeal to surgeons scheduling those procedures",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While all of these OSes are originally designed for less intensive processors than PC ones, the relatively low requirements for the Roku OS help make the user interface feel snappy and fluid even on the low powered processors in cheaper TVs.",
    "output": "[Cause] the relatively low requirements for the Roku OS [Relation] enable [Effect] make the user interface feel snappy and fluid even on the low powered processors in cheaper TVs",
    "gold": "[Cause] the relatively low requirements for the Roku OS [Relation] enable [Effect] make the user interface feel snappy and fluid even on the low powered processors in cheaper TVs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "HPE acquired Nimble Storage to gain a foothold in the all-flash array storage market, and the purchase also benefits HPE's hyperconverged infrastructure portfolio.",
    "output": "[Cause] HPE acquired Nimble Storage [Relation] enable [Effect] gain a foothold in the all-flash array storage market",
    "gold": "[Cause] HPE acquired Nimble Storage [Relation] enable [Effect] gain a foothold in the all-flash array storage market | benefits HPE's hyperconverged infrastructure portfolio",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Scale should come with cost leverage as growth investments bear fruit, helping the unit approach management's 15% segment adjusted EBITDA margin target for fiscal 2022 (we assume growth to around 21% by fiscal 2030).",
    "output": "[Cause] Scale should come with cost leverage as growth investments bear fruit [Relation] enable [Effect] helping the unit approach management's 15% segment adjusted EBITDA margin target for fiscal 2022 (we assume growth to around 21% by fiscal 2030)",
    "gold": "[Cause] growth investments bear fruit, helping the unit approach management's 15% segment adjusted EBITDA margin target for fiscal 2022 (we assume growth to around 21% by fiscal 2030) [Relation] cause [Effect] Scale should come with cost leverage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While Oneok does not have direct oil exposure or ownership of the pipeline, lower natural gas volumes, and weaker prices for Bakken oil barrels place pressure on the region's natural gas liquids economics, hurting Oneok's marketing profits as well as asset volumes.",
    "output": "[Cause] lower natural gas volumes, and weaker prices for Bakken oil barrels [Relation] cause [Effect] pressure on the region's natural gas liquids economics",
    "gold": "[Cause] pressure on the region's natural gas liquids economics [Relation] cause [Effect] hurting Oneok's marketing profits as well as asset volumes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think Citrix is well positioned in the coming quarters to be an important partner as its customers expand their remote work strategies, especially with the addition of Wrike to the portfolio.",
    "output": "[Cause] its customers expand their remote work strategies, especially with the addition of Wrike to the portfolio [Relation] cause [Effect] Citrix is well positioned in the coming quarters to be an important partner",
    "gold": "[Cause]  its customers expand their remote work strategies, especially with the addition of Wrike to the portfolio [Relation] enable [Effect] Citrix is well positioned in the coming quarters to be an important partner",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also think the AIDC market's transition to software will expose Zebra to the threats of open-source software and of a well-capitalized software giant entering the market, though we'd point to Zebra's expansive patches to Android for enterprise use as a hedge against the open-source threat.",
    "output": "[Cause] the AIDC market's transition to software [Relation] cause [Effect] expose Zebra to the threats of open-source software and of a well-capitalized software giant entering the market",
    "gold": "[Cause] the AIDC market's transition to software [Relation] cause [Effect] expose Zebra to the threats of open-source software and of a well-capitalized software giant entering the market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also think the AIDC market's transition to software will expose Zebra to the threats of open-source software and of a well-capitalized software giant entering the market, though we'd point to Zebra's expansive patches to Android for enterprise use as a hedge against the open-source threat.",
    "output": "[Cause] the AIDC market's transition to software [Relation] cause [Effect] expose Zebra to the threats of open-source software and of a well-capitalized software giant entering the market",
    "gold": "[Cause] Zebra's expansive patches to Android for enterprise use [Relation] prevent [Effect] the open-source threat",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We're currently anticipating that equities trading volume will experience a double-digit decline in the next year or two, as retail trading interest partially resets from the exuberance of 2020.",
    "output": "[Cause] retail trading interest partially resets from the exuberance of 2020 [Relation] cause [Effect] equities trading volume will experience a double-digit decline in the next year or two",
    "gold": "[Cause]  retail trading interest partially resets from the exuberance of 2020 [Relation] prevent [Effect] equities trading volume will experience a double-digit decline in the next year or two",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This combination of best-in-class technology along with an extensive third-party dealer network has created a robust Caterpillar ecosystem that encourages customer loyalty and supports strong resale values.",
    "output": "[Cause] This combination of best-in-class technology along with an extensive third-party dealer network [Relation] enable [Effect] a robust Caterpillar ecosystem that encourages customer loyalty and supports strong resale values",
    "gold": "[Cause] This combination of best-in-class technology along with an extensive third-party dealer network [Relation] enable [Effect]  a robust Caterpillar ecosystem that encourages customer loyalty and supports strong resale values",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fortinet's ability to rapidly innovate internally, with the incredible pace of change in security threats, will be tested as threats become more decentralized through customers' cloud-based ecosystems.",
    "output": "[Cause] threats become more decentralized through customers' cloud-based ecosystems [Relation] cause [Effect] Fortinet's ability to rapidly innovate internally, with the incredible pace of change in security threats, will be tested",
    "gold": "[Cause] threats become more decentralized through customers' cloud-based ecosystems [Relation] cause [Effect] Fortinet's ability to rapidly innovate internally, with the incredible pace of change in security threats, will be tested",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fastly handles companies' and consumers' most sensitive information on its servers, so the financial and reputational damage that could follow a major data breach could be devastating.",
    "output": "[Cause] Fastly handles companies' and consumers' most sensitive information on its servers [Relation] cause [Effect] the financial and reputational damage that could follow a major data breach could be devastating",
    "gold": "[Cause] Fastly handles companies' and consumers' most sensitive information on its servers [Relation] cause [Effect]  the financial and reputational damage that could follow a major data breach could be devastating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, about 50% of its refining capacity is integrated with chemicals production, which reduces costs and creates opportunities for feedstock optimization.",
    "output": "[Cause] about 50% of its refining capacity is integrated with chemicals production [Relation] cause [Effect] reduces costs and creates opportunities for feedstock optimization",
    "gold": "[Cause] about 50% of its refining capacity is integrated with chemicals production [Relation] cause [Effect] reduces costs and creates opportunities for feedstock optimization",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the non-GAAP operating margin to reach 6.0% in 2029 from 1.5% in 2019, due to its increasing bargaining power with suppliers, declining fulfillment cost/sales ratio, and operating leverage.",
    "output": "[Cause] its increasing bargaining power with suppliers, declining fulfillment cost/sales ratio, and operating leverage [Relation] cause [Effect] the non-GAAP operating margin to reach 6.0% in 2029 from 1.5% in 2019",
    "gold": "[Cause] its increasing bargaining power with suppliers, declining fulfillment cost/sales ratio, and operating leverage [Relation] cause [Effect] the non-GAAP operating margin to reach 6.0% in 2029 from 1.5% in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Vertical integration is a key source of competitive advantage and substantially increases the barriers to entry in an exclusive traded product.",
    "output": "[Cause] Vertical integration [Relation] enable [Effect] competitive advantage",
    "gold": "[Cause] Vertical integration [Relation] enable [Effect] competitive advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Vertical integration is a key source of competitive advantage and substantially increases the barriers to entry in an exclusive traded product.",
    "output": "[Cause] Vertical integration [Relation] enable [Effect] substantially increases the barriers to entry in an exclusive traded product",
    "gold": "[Cause] Vertical integration [Relation] cause [Effect] substantially increases the barriers to entry in an exclusive traded product",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We would expect Cheniere's marketing operations to be fairly volatile even in a reasonably healthy environment, given the spread-based nature of its business and the substantial volatility in the global LNG market, exposing the company to potential losses.",
    "output": "[Cause] the spread-based nature of its business and the substantial volatility in the global LNG market [Relation] cause [Effect] exposing the company to potential losses",
    "gold": "[Cause] the spread-based nature of its business and the substantial volatility in the global LNG market [Relation] enable [Effect] We would expect Cheniere's marketing operations to be fairly volatile even in a reasonably healthy environment,",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After a COVID-19 weighed on demand in 2020, we expect lithium demand to grow from around 300,000 metric tons in 2020 to 1.9 million metric tons by 2030.",
    "output": "[Cause] a COVID-19 weighed on demand in 2020 [Relation] cause [Effect] lithium demand to grow from around 300,000 metric tons in 2020 to 1.9 million metric tons by 2030",
    "gold": "[Cause] a COVID-19 weighed on demand in 2020 [Relation] enable [Effect] lithium demand to grow from around 300,000 metric tons in 2020 to 1.9 million metric tons by 2030",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This investment has swamped the value of Dish's core satellite television business, as wireless licenses now account for more than two thirds of its roughly $30 billion invested capital base.",
    "output": "[Cause] wireless licenses now account for more than two thirds of its roughly $30 billion invested capital base [Relation] cause [Effect] This investment has swamped the value of Dish's core satellite television business",
    "gold": "[Cause]  wireless licenses now account for more than two thirds of its roughly $30 billion invested capital base [Relation] enable [Effect] This investment has swamped the value of Dish's core satellite television business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, bromine could be substituted with other flame-retardant material or the widespread use of flexible chips in smartphones and tablets that do not use BFRs could accelerate a decline in bromine demand.",
    "output": "[Cause] bromine could be substituted with other flame-retardant material or the widespread use of flexible chips in smartphones and tablets that do not use BFRs [Relation] cause [Effect] accelerate a decline in bromine demand",
    "gold": "[Cause] , bromine could be substituted with other flame-retardant material or the widespread use of flexible chips in smartphones and tablets [Relation] cause [Effect] accelerate a decline in bromine demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, with approximately 30% of sales coming from international markets, currency headwinds could have a negative impact on Hologic's top- and bottom-line performance and potentially undermine domestic progress.",
    "output": "[Cause] approximately 30% of sales coming from international markets [Relation] cause [Effect] currency headwinds could have a negative impact on Hologic's top- and bottom-line performance and potentially undermine domestic progress",
    "gold": "[Cause] approximately 30% of sales coming from international markets [Relation] cause [Effect] currency headwinds could have a negative impact on Hologic's top- and bottom-line performance and potentially undermine domestic progress",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the realm of product development, the prospect of being able to scale distribution of the final product quickly and broadly makes other companies willing to embark on joint ventures with Pepsi.",
    "output": "[Cause] the prospect of being able to scale distribution of the final product quickly and broadly [Relation] enable [Effect] other companies willing to embark on joint ventures with Pepsi",
    "gold": "[Cause] the prospect of being able to scale distribution of the final product quickly and broadly [Relation] enable [Effect] other companies willing to embark on joint ventures with Pepsi",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a renewed focus on costs and plenty of profitability drivers at its disposal, it seems almost certain that Heineken's margin will expand in the medium term.",
    "output": "[Cause] a renewed focus on costs and plenty of profitability drivers at its disposal [Relation] cause [Effect] Heineken's margin will expand in the medium term",
    "gold": "[Cause] a renewed focus on costs and plenty of profitability drivers at its disposal [Relation] cause [Effect] Heineken's margin will expand in the medium term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, the performance and asset values of Ventas' portfolio will suffer if Ventas' operating partners fail to provide superior care or Ventas' assets fail to retain the top tenants.",
    "output": "[Cause] Ventas' operating partners fail to provide superior care or Ventas' assets fail to retain the top tenants [Relation] cause [Effect] the performance and asset values of Ventas' portfolio will suffer",
    "gold": "[Cause] Ventas' operating partners fail to provide superior care or Ventas' assets fail to retain the top tenants [Relation] cause [Effect] the performance and asset values of Ventas' portfolio will suffer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Tiered subscription contracts allow customers to access real-time data in the field from JBT's equipment sensors and tap into its expert global support staff for technical assistance.",
    "output": "[Cause] Tiered subscription contracts [Relation] enable [Effect] customers to access real-time data in the field from JBT's equipment sensors and tap into its expert global support staff for technical assistance",
    "gold": "[Cause] tap into its expert global support staff [Relation] cause [Effect] technical assistance",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After application, patents enjoy 20-year terms, which keeps competitors from directly copying the technology for a long period of time.",
    "output": "[Cause] patents enjoy 20-year terms [Relation] prevent [Effect] competitors from directly copying the technology for a long period of time",
    "gold": "[Cause] patents enjoy 20-year terms [Relation] enable [Effect] competitors from directly copying the technology for a long period of time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The ability of an exchange to keep implicit costs low is largely a function of the amount of liquidity on the exchange, leading to powerful network effects for futures exchanges.",
    "output": "[Cause] the amount of liquidity on the exchange [Relation] cause [Effect] The ability of an exchange to keep implicit costs low",
    "gold": "[Cause] the amount of liquidity on the exchange [Relation] enable [Effect] The ability of an exchange to keep implicit costs low",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The ability of an exchange to keep implicit costs low is largely a function of the amount of liquidity on the exchange, leading to powerful network effects for futures exchanges.",
    "output": "[Cause] The ability of an exchange to keep implicit costs low [Relation] cause [Effect] powerful network effects for futures exchanges",
    "gold": "[Cause] The ability of an exchange to keep implicit costs low [Relation] cause [Effect] powerful network effects for futures exchanges",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Considering that the millennial generation entered the job market around the Great Recession and so delayed saving while also being burdened with record student loan debt, many millennials lack the money for a down payment on a home and therefore will most likely consider renting over purchasing.",
    "output": "[Cause] the millennial generation entered the job market around the Great Recession [Relation] cause [Effect] delayed saving while also being burdened with record student loan debt",
    "gold": "[Cause] the millennial generation entered the job market around the Great Recession [Relation] cause [Effect] delayed saving while also being burdened with record student loan debt",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Considering that the millennial generation entered the job market around the Great Recession and so delayed saving while also being burdened with record student loan debt, many millennials lack the money for a down payment on a home and therefore will most likely consider renting over purchasing.",
    "output": "[Cause] delayed saving while also being burdened with record student loan debt [Relation] cause [Effect] many millennials lack the money for a down payment on a home",
    "gold": "[Cause] delayed saving while also being burdened with record student loan debt [Relation] cause [Effect] many millennials lack the money for a down payment on a home",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Considering that the millennial generation entered the job market around the Great Recession and so delayed saving while also being burdened with record student loan debt, many millennials lack the money for a down payment on a home and therefore will most likely consider renting over purchasing.",
    "output": "[Cause] delayed saving while also being burdened with record student loan debt [Relation] cause [Effect] many millennials lack the money for a down payment on a home",
    "gold": "[Cause] many millennials lack the money for a down payment on a home [Relation] cause [Effect]  most likely consider renting over purchasing",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Meanwhile, we expect slight operating leverage to occur in R&D and general and administrative sales as the company expands its scale with its growth platforms in Internet of Things and AR.",
    "output": "[Cause] the company expands its scale with its growth platforms in Internet of Things and AR [Relation] cause [Effect] slight operating leverage to occur in R&D and general and administrative sales",
    "gold": "[Cause] the company expands its scale with its growth platforms in Internet of Things and AR [Relation] cause [Effect] slight operating leverage to occur in R&D and general and administrative sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the duopoly should allow rational behavior from both companies and help prevent price wars, the HDD market will continue to experience a secular decline.",
    "output": "[Cause] the duopoly [Relation] enable [Effect] rational behavior from both companies and help prevent price wars",
    "gold": "[Cause] the duopoly [Relation] enable [Effect] rational behavior from both companies and help prevent price wars",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With TurboTax online sales having eclipsed its desktop sales and our estimate that the same will happen for QuickBooks in fiscal 2020, Intuit has now transitioned into a cloud-first company.",
    "output": "[Cause] TurboTax online sales having eclipsed its desktop sales and our estimate that the same will happen for QuickBooks in fiscal 2020 [Relation] cause [Effect] Intuit has now transitioned into a cloud-first company",
    "gold": "[Cause] TurboTax online sales having eclipsed its desktop sales and our estimate that the same will happen for QuickBooks in fiscal 2020 [Relation] cause [Effect] Intuit has now transitioned into a cloud-first company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Ferguson has put the right strategy in place to optimize pricing, which should lead to a stronger margin profile.",
    "output": "[Cause] Ferguson has put the right strategy in place to optimize pricing [Relation] cause [Effect] a stronger margin profile",
    "gold": "[Cause]  Ferguson has put the right strategy in place to optimize pricing [Relation] enable [Effect] a stronger margin profile",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The industry has experienced tremendous growth in the last several years, and we see further societal shifts fueling that growth for years to come, albeit at a more modest pace.",
    "output": "[Cause] further societal shifts [Relation] enable [Effect] growth for years to come",
    "gold": "[Cause] further societal shifts [Relation] cause [Effect] industry has experienced tremendous growth in the last several years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Expected purchases in 2021 could easily top $250 million, given the over $1 billion in expected excess cash flow, and this could accelerate into 2022 as Plains reaches its leverage targets and starts to allocate more cash toward share and unit buybacks.",
    "output": "[Cause] the over $1 billion in expected excess cash flow [Relation] cause [Effect] Expected purchases in 2021 could easily top $250 million",
    "gold": "[Cause] the over $1 billion in expected excess cash flow [Relation] cause [Effect] Expected purchases in 2021 could easily top $250 million",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Expected purchases in 2021 could easily top $250 million, given the over $1 billion in expected excess cash flow, and this could accelerate into 2022 as Plains reaches its leverage targets and starts to allocate more cash toward share and unit buybacks.",
    "output": "[Cause] Plains reaches its leverage targets and starts to allocate more cash toward share and unit buybacks [Relation] cause [Effect] accelerate into 2022",
    "gold": "[Cause] Expected purchases in 2021 could easily top $250 million [Relation] cause [Effect] accelerate into 2022",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Expected purchases in 2021 could easily top $250 million, given the over $1 billion in expected excess cash flow, and this could accelerate into 2022 as Plains reaches its leverage targets and starts to allocate more cash toward share and unit buybacks.",
    "output": "[Cause] Plains reaches its leverage targets and starts to allocate more cash toward share and unit buybacks [Relation] cause [Effect] accelerate into 2022",
    "gold": "[Cause] Plains reaches its leverage targets and starts to allocate more cash toward share and unit buybacks [Relation] cause [Effect] accelerate into 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the flip side, demand growth for its industrial machinery, which includes metal forging, stamping presses, machine tools, defense-related equipment, and others, would be underpinned by demand from the automotive, solar, and defense industry.",
    "output": "[Cause] demand from the automotive, solar, and defense industry [Relation] cause [Effect] demand growth for its industrial machinery, which includes metal forging, stamping presses, machine tools, defense-related equipment, and others, would be underpinned",
    "gold": "[Cause] automotive, solar, and defense industry. [Relation] cause [Effect] demand growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We envision Workday's ACV growing to near $5.5 million by 2032, primarily driven by increasing attach rates rather than price increases.",
    "output": "[Cause] increasing attach rates rather than price increases [Relation] cause [Effect] Workday's ACV growing to near $5.5 million by 2032",
    "gold": "[Cause] increasing attach rates rather than price increases [Relation] cause [Effect] Workday's ACV growing to near $5.5 million by 2032",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the continence-care segment to deliver the strongest growth, around 5% on average, thanks to the inklings of innovation we've seen there.",
    "output": "[Cause] the inklings of innovation we've seen there [Relation] cause [Effect] the continence-care segment to deliver the strongest growth, around 5% on average",
    "gold": "[Cause]  the inklings of innovation we've seen there [Relation] enable [Effect] the continence-care segment to deliver the strongest growth, around 5% on average",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the Swiss watch industry has survived several meaningful crises associated with replacement technology, we believe smartwatches could represent a new meaningful threat if they become widespread and give customers previously unprecedented utility beyond telling time.",
    "output": "[Cause] they become widespread and give customers previously unprecedented utility beyond telling time [Relation] cause [Effect] smartwatches could represent a new meaningful threat",
    "gold": "[Cause] they become widespread and give customers previously unprecedented utility beyond telling time [Relation] cause [Effect] smartwatches could represent a new meaningful threat",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Recent pricing increases have continued to restore profitability in auto for Allstate, following a rise in claims driven by a multitude of factors ranging from low gas prices to distracted driving.",
    "output": "[Cause] Recent pricing increases [Relation] enable [Effect] restore profitability in auto for Allstate",
    "gold": "[Cause] Recent pricing increases [Relation] cause [Effect] restore profitability in auto for Allstate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Recent pricing increases have continued to restore profitability in auto for Allstate, following a rise in claims driven by a multitude of factors ranging from low gas prices to distracted driving.",
    "output": "[Cause] Recent pricing increases [Relation] enable [Effect] restore profitability in auto for Allstate",
    "gold": "[Cause] a multitude of factors ranging from low gas prices to distracted driving [Relation] cause [Effect] a rise in claims",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The press had a field day lambasting ING for the deficiencies uncovered in its ability to combat financial fraud by the Dutch prosecuting authorities in 2018, which ultimately led to it being slapped with a EUR 775 million fine.",
    "output": "[Cause] The press had a field day lambasting ING for the deficiencies uncovered in its ability to combat financial fraud by the Dutch prosecuting authorities in 2018 [Relation] cause [Effect] it being slapped with a EUR 775 million fine",
    "gold": "[Cause] The press had a field day lambasting ING for the deficiencies uncovered in its ability to combat financial fraud by the Dutch prosecuting authorities in 2018 [Relation] cause [Effect] it being slapped with a EUR 775 million fine",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, companies typically stay with their selected CRO throughout the drug's lifetime for the continued study and development of booster drugs/vaccines.",
    "output": "[Cause] the continued study and development of booster drugs/vaccines [Relation] cause [Effect] stay with their selected CRO throughout the drug's lifetime",
    "gold": "[Cause]  stay with their selected CRO throughout the drug's lifetime [Relation] enable [Effect] continued study and development of booster drugs/vaccines",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think its biggest advantage is that, unlike some of its competitors, it can provide businesses with a whole array of services rather than requiring its customers to buy them piecemeal, and its extensive fiber network limits the number of rivals who could attempt to replicate all its services.",
    "output": "[Cause] its extensive fiber network [Relation] prevent [Effect] the number of rivals who could attempt to replicate all its services",
    "gold": "[Cause] its extensive fiber network [Relation] prevent [Effect] the number of rivals who could attempt to replicate all its services",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are raising our uncertainty rating, probably temporarily, to medium from low to reflect the widening range of valuation outcomes resulting from the impact of the coronavirus outbreak on short-term demand.",
    "output": "[Cause] the impact of the coronavirus outbreak on short-term demand [Relation] cause [Effect] the widening range of valuation outcomes",
    "gold": "[Cause]  raising our uncertainty rating, probably temporarily, to medium from low [Relation] enable [Effect]  reflect the widening range of valuation outcomes resulting from the impact of the coronavirus outbreak on short-term demand.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nonetheless, we think that total revenue generated by ERP customers will grow by over 50% as more and more cloud customers should increase the lifetime value they offer to SAP.",
    "output": "[Cause] more and more cloud customers should increase the lifetime value they offer to SAP [Relation] cause [Effect] total revenue generated by ERP customers will grow by over 50%",
    "gold": "[Cause] more and more cloud customers should increase the lifetime value they offer to SAP [Relation] cause [Effect] total revenue generated by ERP customers will grow by over 50%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we think the densification dynamic has largely played out, continued decreases in square footage per employee could have a negative effect on demand for office space.",
    "output": "[Cause] continued decreases in square footage per employee [Relation] cause [Effect] have a negative effect on demand for office space",
    "gold": "[Cause] continued decreases in square footage per employee [Relation] cause [Effect]  have a negative effect on demand for office space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Covidien and J&amp;J dominate a number of surgical specialties with the breadth of their portfolios, rendering competitors' efforts to displace them on cost on an individual product basis less meaningful.",
    "output": "[Cause] the breadth of their portfolios [Relation] cause [Effect] Covidien and J&amp;J dominate a number of surgical specialties",
    "gold": "[Cause]  the breadth of their portfolios [Relation] enable [Effect] Covidien and J&amp;J dominate a number of surgical specialties",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nearly all of its products use methanol or ethylene as a core building block, so increases in the prices of those commodities could hurt profits if the company is unable to pass along raw material price increases.",
    "output": "[Cause] Nearly all of its products use methanol or ethylene as a core building block [Relation] cause [Effect] increases in the prices of those commodities could hurt profits if the company is unable to pass along raw material price increases",
    "gold": "[Cause] Nearly all of its products use methanol or ethylene as a core building block [Relation] cause [Effect] increases in the prices of those commodities could hurt profits if the company is unable to pass along raw material price increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, Crown Castle has now brought fiber spending down significantly, so we no longer think returns on invested capital will fall below its weighted average cost of capital for the bulk of the next 10 years.",
    "output": "[Cause] Crown Castle has now brought fiber spending down significantly [Relation] cause [Effect] we no longer think returns on invested capital will fall below its weighted average cost of capital for the bulk of the next 10 years",
    "gold": "[Cause]  Crown Castle has now brought fiber spending down significantly [Relation] cause [Effect] we no longer think returns on invested capital will fall below its weighted average cost of capital for the bulk of the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The spread between what AMN can charge customers and what it pays temporary workers may contract and pressure margins if the firm has to exorbitantly increase its pay rate in order to maintain a steady inventory of quality workers.",
    "output": "[Cause] the firm has to exorbitantly increase its pay rate in order to maintain a steady inventory of quality workers [Relation] cause [Effect] The spread between what AMN can charge customers and what it pays temporary workers may contract and pressure margins",
    "gold": "[Cause] the firm has to exorbitantly increase its pay rate in order to maintain a steady inventory of quality workers [Relation] enable [Effect] The spread between what AMN can charge customers and what it pays temporary workers may contract and pressure margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With its enviable roster of blue-chip office and retail tenants, Vornado should benefit from healthy rent collections despite the coronavirus crisis.",
    "output": "[Cause] its enviable roster of blue-chip office and retail tenants [Relation] enable [Effect] Vornado should benefit from healthy rent collections despite the coronavirus crisis",
    "gold": "[Cause] its enviable roster of blue-chip office and retail tenants [Relation] cause [Effect]  Vornado should benefit from healthy rent collections despite the coronavirus crisis",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The best models will have consistent and uniform genetic makeup, which requires generations of systematic inbreeding as well as regular back-crossing with the original genetic source to prevent genetic drift over time.",
    "output": "[Cause] The best models will have consistent and uniform genetic makeup [Relation] cause [Effect] requires generations of systematic inbreeding as well as regular back-crossing with the original genetic source to prevent genetic drift over time",
    "gold": "[Cause] generations of systematic inbreeding as well as regular back-crossing with the original genetic source [Relation] prevent [Effect] genetic drift over time",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Considering the size of the high-end CAD market for product design, we think the benefits of CAD software being taught in graduate programs are less in comparison to midmarket software.",
    "output": "[Cause] the size of the high-end CAD market for product design [Relation] cause [Effect] the benefits of CAD software being taught in graduate programs are less in comparison to midmarket software",
    "gold": "[Cause] the size of the high-end CAD market for product design [Relation] cause [Effect] the benefits of CAD software being taught in graduate programs are less in comparison to midmarket software",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Aon's largest cost component is employee compensation, which could lead to pressure on margins if labor conditions grew tight and any large-scale employee defections could damage the business.",
    "output": "[Cause] labor conditions grew tight and any large-scale employee defections could damage the business [Relation] cause [Effect] pressure on margins",
    "gold": "[Cause] Aon's largest cost component is employee compensation [Relation] cause [Effect] pressure on margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As costs continue to rise in these sectors, we expect more institutions will recognise the savings potential of outsourcing the food-service function.",
    "output": "[Cause] costs continue to rise in these sectors [Relation] cause [Effect] more institutions will recognise the savings potential of outsourcing the food-service function",
    "gold": "[Cause] costs continue to rise in these sectors [Relation] enable [Effect] more institutions will recognise the savings potential of outsourcing the food-service function",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Demand for new business jets is generally driven by new, high-quality products, as previous customers must be convinced to upgrade, so we have difficulty envisioning a future where the company could compress research spending without compromising its future.",
    "output": "[Cause] new, high-quality products [Relation] cause [Effect] Demand for new business jets",
    "gold": "[Cause] new, high-quality products [Relation] cause [Effect] Demand for new business jets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Demand for new business jets is generally driven by new, high-quality products, as previous customers must be convinced to upgrade, so we have difficulty envisioning a future where the company could compress research spending without compromising its future.",
    "output": "[Cause] Demand for new business jets is generally driven by new, high-quality products [Relation] cause [Effect] we have difficulty envisioning a future where the company could compress research spending without compromising its future",
    "gold": "[Cause] previous customers must be convinced to upgrade [Relation] cause [Effect] Demand for new business jets is generally driven by new, high-quality products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Demand for new business jets is generally driven by new, high-quality products, as previous customers must be convinced to upgrade, so we have difficulty envisioning a future where the company could compress research spending without compromising its future.",
    "output": "[Cause] Demand for new business jets is generally driven by new, high-quality products [Relation] cause [Effect] we have difficulty envisioning a future where the company could compress research spending without compromising its future",
    "gold": "[Cause] without compromising its future [Relation] prevent [Effect] compress research spending",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, the pricing of petrol products in China remains under government guidance, and any intervention in the energy markets could hinder Sinopec's ability to pass on cost increases during higher-inflation periods.",
    "output": "[Cause] any intervention in the energy markets [Relation] prevent [Effect] Sinopec's ability to pass on cost increases during higher-inflation periods",
    "gold": "[Cause] under government guidance [Relation] prevent [Effect] any intervention in the energy markets could hinder Sinopec's ability to pass on cost increases during higher-inflation periods",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "H&P seeks to differentiate itself in the commoditized drilling services market by staying at the forefront of technological innovation in the space.",
    "output": "[Cause] staying at the forefront of technological innovation in the space [Relation] enable [Effect] H&P seeks to differentiate itself in the commoditized drilling services market",
    "gold": "[Cause] staying at the forefront of technological innovation in the space [Relation] enable [Effect] H&P seeks to differentiate itself in the commoditized drilling services market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "One effect of climate change is for climates to shift north, which brings warmer weather and fewer snow days to northern climates.",
    "output": "[Cause] climates to shift north [Relation] cause [Effect] warmer weather and fewer snow days to northern climates",
    "gold": "[Cause] climate change [Relation] cause [Effect] climates to shift north",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Following a down fiscal 2019 due to a deceleration in 3D NAND, DRAM, and display spending, we expect the firm to grow revenue on average 8% through fiscal 2025.",
    "output": "[Cause] a deceleration in 3D NAND, DRAM, and display spending [Relation] cause [Effect] a down fiscal 2019",
    "gold": "[Cause] a down fiscal 2019 [Relation] cause [Effect] the firm to grow revenue on average 8% through fiscal 2025",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The network's bargaining power increases with a great collection of pharmacists, which its uses to collect reimbursement through the Medicare Part D program as well as lobby for their interests on Capitol Hill.",
    "output": "[Cause] a great collection of pharmacists [Relation] enable [Effect] The network's bargaining power increases",
    "gold": "[Cause]  a great collection of pharmacists [Relation] enable [Effect] The network's bargaining power increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Alliance partners' (Renault and Mitsubishi) co-investment in all-electric vehicle capacity helps reduce Nissan's risk relative to attempting to launch on its own.",
    "output": "[Cause] Alliance partners' (Renault and Mitsubishi) co-investment in all-electric vehicle capacity [Relation] enable [Effect] reduce Nissan's risk relative to attempting to launch on its own",
    "gold": "[Cause] Alliance partners' (Renault and Mitsubishi) co-investment in all-electric vehicle capacity [Relation] enable [Effect] reduce Nissan's risk relative to attempting to launch on its own",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As process technologies develop, the cost per unit area increases while the unit area per transistor decreases. Thus, by netting these two trends, Intel is able to decrease the cost per transistor with each successive technology node.",
    "output": "[Cause] As process technologies develop, the cost per unit area increases while the unit area per transistor decreases [Relation] cause [Effect] by netting these two trends, Intel is able to decrease the cost per transistor with each successive technology node",
    "gold": "[Cause] As process technologies develop, the cost per unit area increases while the unit area per transistor decreases [Relation] cause [Effect] by netting these two trends, Intel is able to decrease the cost per transistor with each successive technology node",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After a challenging 2020, we expect modest EPS growth driven by higher variable investment income, continued expense control, and a lower share count.",
    "output": "[Cause] higher variable investment income, continued expense control, and a lower share count [Relation] cause [Effect] modest EPS growth",
    "gold": "[Cause] higher variable investment income, continued expense control, and a lower share count [Relation] cause [Effect] modest EPS growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the switching costs might not be explicitly large, the benefits of switching from one asset manager or wealth manager to another are at times so uncertain that many clients simply stay where they are. As a result, money that flows into asset and wealth management firms tend to stay there, creating significant asset stickiness.",
    "output": "[Cause] Although the switching costs might not be explicitly large, the benefits of switching from one asset manager or wealth manager to another are at times so uncertain that many clients simply stay where they are [Relation] cause [Effect] money that flows into asset and wealth management firms tend to stay there, creating significant asset stickiness",
    "gold": "[Cause] Although the switching costs might not be explicitly large, the benefits of switching from one asset manager or wealth manager to another are at times so uncertain that many clients simply stay where they are [Relation] cause [Effect] money that flows into asset and wealth management firms tend to stay there, creating significant asset stickiness",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that the MAX recertification is nearing its conclusion and that the aircraft has a bright future due to the versatility of narrow-bodied aircraft and the attractive economics of point-to-point flights.",
    "output": "[Cause] the versatility of narrow-bodied aircraft and the attractive economics of point-to-point flights [Relation] cause [Effect] the MAX recertification is nearing its conclusion and that the aircraft has a bright future",
    "gold": "[Cause] the versatility of narrow-bodied aircraft  | the attractive economics of point-to-point flights. [Relation] cause [Effect]  the aircraft has a bright future",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the long run, First Solar will have to continue investing in research and development to stay at least on par with its competitors.",
    "output": "[Cause] First Solar will have to continue investing in research and development [Relation] enable [Effect] stay at least on par with its competitors",
    "gold": "[Cause] First Solar will have to continue investing in research and development [Relation] enable [Effect] stay at least on par with its competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The level of net interest income is more uncertain as net interest margin (NIM) and balance sheet size can be difficult to forecast.",
    "output": "[Cause] net interest margin (NIM) and balance sheet size can be difficult to forecast [Relation] cause [Effect] The level of net interest income is more uncertain",
    "gold": "[Cause] net interest margin (NIM) and balance sheet size can be difficult to forecast [Relation] cause [Effect] The level of net interest income is more uncertain",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even if another exchange charges less than CME, a 1-tick size worse execution on even a fraction of contracts would wipe out any savings to the customer from lower transaction fees. This gives CME considerable pricing power and has allowed the firm to enjoy an operating margin that has historically been around 60%.",
    "output": "[Cause] Even if another exchange charges less than CME, a 1-tick size worse execution on even a fraction of contracts would wipe out any savings to the customer from lower transaction fees [Relation] cause [Effect] gives CME considerable pricing power and has allowed the firm to enjoy an operating margin that has historically been around 60%",
    "gold": "[Cause] Even if another exchange charges less than CME, a 1-tick size worse execution on even a fraction of contracts would wipe out any savings to the customer from lower transaction fees [Relation] enable [Effect] gives CME considerable pricing power and has allowed the firm to enjoy an operating margin that has historically been around 60%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the near to medium term, Aptar faces inflation risk from increasing supply costs, which could eat into margins if Aptar is unable to pass costs to customers.",
    "output": "[Cause] Aptar is unable to pass costs to customers [Relation] cause [Effect] eat into margins",
    "gold": "[Cause] Aptar faces inflation risk from increasing supply costs [Relation] cause [Effect] eat into margins if Aptar is unable to pass costs to customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, its ability to post economic profit on average over the next business cycle depends on the firm's heavy network investment (aimed at B2C delivery) paying off.",
    "output": "[Cause] the firm's heavy network investment (aimed at B2C delivery) paying off [Relation] enable [Effect] its ability to post economic profit on average over the next business cycle",
    "gold": "[Cause] the firm's heavy network investment (aimed at B2C delivery) paying off [Relation] enable [Effect] its ability to post economic profit on average over the next business cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, we believe Tractor Supply derives its success from its evolving customer-led store layout, which makes it a destination store for many of its customers.",
    "output": "[Cause] its evolving customer-led store layout [Relation] enable [Effect] Tractor Supply derives its success",
    "gold": "[Cause] its evolving customer-led store layout [Relation] enable [Effect] Tractor Supply derives its success",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said we're less concerned with normal ebbs and flows of the macro environment, given that Honeywell's business is split 60/40 between operating expenditure and capital expenditure cycles.",
    "output": "[Cause] Honeywell's business is split 60/40 between operating expenditure and capital expenditure cycles [Relation] cause [Effect] we're less concerned with normal ebbs and flows of the macro environment",
    "gold": "[Cause] Honeywell's business is split 60/40 between operating expenditure and capital expenditure cycles [Relation] cause [Effect] we're less concerned with normal ebbs and flows of the macro environment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The channel has been the most-watched cable network as Fox News has benefited from the contentious atmosphere surrounding the Trump presidential administration.",
    "output": "[Cause] Fox News has benefited from the contentious atmosphere surrounding the Trump presidential administration [Relation] cause [Effect] The channel has been the most-watched cable network",
    "gold": "[Cause]  Fox News has benefited from the contentious atmosphere surrounding the Trump presidential administration [Relation] cause [Effect] The channel has been the most-watched cable network",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In particular, the company's capital markets and leasing businesses tend to magnify existing volatility in the overall market place because of their transactional nature.",
    "output": "[Cause] their transactional nature [Relation] cause [Effect] the company's capital markets and leasing businesses tend to magnify existing volatility in the overall market place",
    "gold": "[Cause] their transactional nature [Relation] cause [Effect] the company's capital markets and leasing businesses tend to magnify existing volatility in the overall market place",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Federal approval for Avangrid's Vineyard Wind project on May 11 gives us more confidence that Eversource will get approval for its proposed projects and have ample opportunities to add to its offshore wind project backlog.",
    "output": "[Cause] Federal approval for Avangrid's Vineyard Wind project on May 11 [Relation] enable [Effect] gives us more confidence that Eversource will get approval for its proposed projects and have ample opportunities to add to its offshore wind project backlog",
    "gold": "[Cause] Federal approval for Avangrid's Vineyard Wind project on May 11 [Relation] enable [Effect] gives us more confidence that Eversource will get approval for its proposed projects and have ample opportunities to add to its offshore wind project backlog",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The more critical the function and the more touch points across an organization a software vendor has, the higher the switching costs will be.",
    "output": "[Cause] The more critical the function and the more touch points across an organization a software vendor has [Relation] cause [Effect] the higher the switching costs will be",
    "gold": "[Cause] The more critical the function and the more touch points across an organization a software vendor has [Relation] cause [Effect] the higher the switching costs will be",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Giving its own brands primacy offers a significant margin advantage, and although the company loses some sales to buyers seeking branded product, the offerings simultaneously boost its brand strength as customers come to trust a NAPA-labeled item.",
    "output": "[Cause] customers come to trust a NAPA-labeled item [Relation] enable [Effect] boost its brand strength",
    "gold": "[Cause] the offerings [Relation] enable [Effect]  boost its brand strength",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Giving its own brands primacy offers a significant margin advantage, and although the company loses some sales to buyers seeking branded product, the offerings simultaneously boost its brand strength as customers come to trust a NAPA-labeled item.",
    "output": "[Cause] customers come to trust a NAPA-labeled item [Relation] enable [Effect] boost its brand strength",
    "gold": "[Cause] customers come to trust a NAPA-labeled item [Relation] enable [Effect]  boost its brand strength",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Commercialization and research and development expenses have kept BioMarin in the red, but we're confident in the profit-generating power of its rare-disease treatments, and BioMarin's turn to non-GAAP profitability in 2017 looks sustainable.",
    "output": "[Cause] Commercialization and research and development expenses [Relation] enable [Effect] kept BioMarin in the red",
    "gold": "[Cause] Commercialization and research and development expenses [Relation] cause [Effect] kept BioMarin in the red",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The acquisition was eventually approved in 2012, but only after CoStar agreed to certain limitations regarding competitive behavior, including a requirement that LoopNet spin off Xceligent, which was CoStar's only notable competitor.",
    "output": "[Cause] CoStar agreed to certain limitations regarding competitive behavior [Relation] cause [Effect] The acquisition was eventually approved in 2012",
    "gold": "[Cause]  CoStar agreed to certain limitations regarding competitive behavior [Relation] enable [Effect] The acquisition was eventually approved in 2012",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "An example of this dynamic is Bulgaria's inability to replace its Russian-made MiG-29s with the same aircraft because Bulgaria has become a NATO member since it purchased the aircraft.",
    "output": "[Cause] Bulgaria has become a NATO member since it purchased the aircraft [Relation] cause [Effect] Bulgaria's inability to replace its Russian-made MiG-29s with the same aircraft",
    "gold": "[Cause]  Bulgaria has become a NATO member since it purchased the aircraft [Relation] enable [Effect]  Bulgaria's inability to replace its Russian-made MiG-29s with the same aircraft",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we believe the scalable nature of the business and the strong growth we expect will allow for steady margin improvement over time.",
    "output": "[Cause] the scalable nature of the business and the strong growth [Relation] enable [Effect] steady margin improvement over time",
    "gold": "[Cause]  the scalable nature of the business and the strong growth [Relation] enable [Effect] steady margin improvement over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Like most transportation and logistics firms, Hub is highly exposed to the health of the North American economy because it serves a variety of industrial and retail end markets.",
    "output": "[Cause] it serves a variety of industrial and retail end markets [Relation] cause [Effect] Hub is highly exposed to the health of the North American economy",
    "gold": "[Cause]  it serves a variety of industrial and retail end markets [Relation] cause [Effect] Hub is highly exposed to the health of the North American economy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Tiered pricing also allows for companies to move from Starter to Pro to Enterprise as they mature and their needs and budgets change.",
    "output": "[Cause] they mature and their needs and budgets change [Relation] enable [Effect] companies to move from Starter to Pro to Enterprise",
    "gold": "[Cause] Tiered pricing [Relation] enable [Effect]  companies to move from Starter to Pro to Enterprise",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect net charge-offs to be relatively steady, as the bank easily navigates any potential pressures from the pandemic.",
    "output": "[Cause] the bank easily navigates any potential pressures from the pandemic [Relation] cause [Effect] net charge-offs to be relatively steady",
    "gold": "[Cause] the bank easily navigates any potential pressures from the pandemic [Relation] enable [Effect] net charge-offs to be relatively steady",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that American Airlines has a higher chance of firm failure when compared with other legacy carriers as it carries much more debt relative to enterprise value than peers.",
    "output": "[Cause] it carries much more debt relative to enterprise value than peers [Relation] cause [Effect] American Airlines has a higher chance of firm failure when compared with other legacy carriers",
    "gold": "[Cause] it carries much more debt relative to enterprise value than peers [Relation] cause [Effect] American Airlines has a higher chance of firm failure when compared with other legacy carriers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We attribute the lack of customer churn in SaaS in general to easier integration with existing applications and infrastructure, best-of-breed solutions, the time, expense, and risk of moving mission-critical data, and the retraining of the workforce to learn a new application.",
    "output": "[Cause] the time, expense, and risk of moving mission-critical data [Relation] cause [Effect] the lack of customer churn in SaaS",
    "gold": "[Cause] infrastructure [Relation] cause [Effect] the lack of customer churn in SaaS",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We attribute the lack of customer churn in SaaS in general to easier integration with existing applications and infrastructure, best-of-breed solutions, the time, expense, and risk of moving mission-critical data, and the retraining of the workforce to learn a new application.",
    "output": "[Cause] the time, expense, and risk of moving mission-critical data [Relation] cause [Effect] the lack of customer churn in SaaS",
    "gold": "[Cause] best-of-breed solutions [Relation] cause [Effect] the lack of customer churn in SaaS",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We attribute the lack of customer churn in SaaS in general to easier integration with existing applications and infrastructure, best-of-breed solutions, the time, expense, and risk of moving mission-critical data, and the retraining of the workforce to learn a new application.",
    "output": "[Cause] the time, expense, and risk of moving mission-critical data [Relation] cause [Effect] the lack of customer churn in SaaS",
    "gold": "[Cause]  the retraining of the workforce to learn a new application [Relation] cause [Effect] the lack of customer churn in SaaS",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the quality and value of Kroger's own labels spurs customer affinity for the stores while differentiating the assortment from rivals, bolstering the company's standing with shoppers (and traffic) even as the company sells meaningfully more lucrative product.",
    "output": "[Cause] differentiating the assortment from rivals [Relation] enable [Effect] bolstering the company's standing with shoppers",
    "gold": "[Cause] the quality and value of Kroger's own labels [Relation] cause [Effect] differentiating the assortment from rivals",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the quality and value of Kroger's own labels spurs customer affinity for the stores while differentiating the assortment from rivals, bolstering the company's standing with shoppers (and traffic) even as the company sells meaningfully more lucrative product.",
    "output": "[Cause] differentiating the assortment from rivals [Relation] enable [Effect] bolstering the company's standing with shoppers",
    "gold": "[Cause] differentiating the assortment from rivals [Relation] cause [Effect] bolstering the company's standing with shoppers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since the onset of the pandemic, stay-at-home orders and COVID-19-related pantry stocking have led to impressive sales growth for Church & Dwight (similar to peers), up at a more than mid-single-digit clip each quarter on an organic basis.",
    "output": "[Cause] stay-at-home orders and COVID-19-related pantry stocking [Relation] cause [Effect] impressive sales growth for Church & Dwight (similar to peers)",
    "gold": "[Cause] stay-at-home orders and COVID-19-related pantry stocking [Relation] enable [Effect] impressive sales growth for Church & Dwight (similar to peers)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Eventually, we expect federal law will be changed to allow states to choose the legality of cannabis within their borders.",
    "output": "[Cause] federal law will be changed [Relation] enable [Effect] states to choose the legality of cannabis within their borders",
    "gold": "[Cause] federal law will be changed [Relation] enable [Effect] states to choose the legality of cannabis within their borders",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we think the company's asset-allocation decisions (and the bull market) have been a much bigger factor in driving book value growth in recent years.",
    "output": "[Cause] the company's asset-allocation decisions (and the bull market) [Relation] enable [Effect] driving book value growth in recent years",
    "gold": "[Cause] the company's asset-allocation decisions (and the bull market) [Relation] cause [Effect] driving book value growth in recent years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, we are modeling in a fairly rapid decline in A380 production as the company retires production of the aircraft.",
    "output": "[Cause] the company retires production of the aircraft [Relation] cause [Effect] we are modeling in a fairly rapid decline in A380 production",
    "gold": "[Cause]  the company retires production of the aircraft [Relation] cause [Effect]  we are modeling in a fairly rapid decline in A380 production",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thanks to its position near the low end of the industry cost curve, we forecast that Steel Dynamics' returns on invested capital will only slightly exceed its cost of capital in a midcycle operating environment.",
    "output": "[Cause] its position near the low end of the industry cost curve [Relation] cause [Effect] Steel Dynamics' returns on invested capital will only slightly exceed its cost of capital in a midcycle operating environment",
    "gold": "[Cause] its position near the low end of the industry cost curve [Relation] cause [Effect] Steel Dynamics' returns on invested capital will only slightly exceed its cost of capital in a midcycle operating environment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the company's established presence confers a competitive advantage as well, as being one of the first insurers considered creates opportunities to underwrite preferred risks.",
    "output": "[Cause] being one of the first insurers considered creates opportunities to underwrite preferred risks [Relation] cause [Effect] the company's established presence confers a competitive advantage",
    "gold": "[Cause] being one of the first insurers considered creates opportunities to underwrite preferred risks [Relation] cause [Effect]  the company's established presence confers a competitive advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Wage and price pressure should hold segment margins near their pre-pandemic low teens average, despite rising cost leverage.",
    "output": "[Cause] Wage and price pressure [Relation] enable [Effect] segment margins near their pre-pandemic low teens average",
    "gold": "[Cause] Wage and price pressure [Relation] prevent [Effect]  segment margins near their pre-pandemic low teens average",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Retention rates are high since these multiyear contracts tend to incorporate cost-sharing agreements; once a customer integrates its lab maintenance procedures with OneSource, it's unlikely to switch to competitive products since it would require additional investment in both time and money.",
    "output": "[Cause] these multiyear contracts tend to incorporate cost-sharing agreements [Relation] cause [Effect] Retention rates are high",
    "gold": "[Cause] Retention rates are high [Relation] cause [Effect]  multiyear contracts tend to incorporate cost-sharing agreements",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Retention rates are high since these multiyear contracts tend to incorporate cost-sharing agreements; once a customer integrates its lab maintenance procedures with OneSource, it's unlikely to switch to competitive products since it would require additional investment in both time and money.",
    "output": "[Cause] it would require additional investment in both time and money [Relation] cause [Effect] it's unlikely to switch to competitive products",
    "gold": "[Cause]  multiyear contracts tend to incorporate cost-sharing agreements [Relation] cause [Effect] Retention rates are high",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Adjusted operating margin slipped to 13% in fiscal 2020 due to COVID-19 and added Cypress costs, but we foresee healthy operating margin expansion from here.",
    "output": "[Cause] COVID-19 and added Cypress costs [Relation] cause [Effect] Adjusted operating margin slipped to 13% in fiscal 2020",
    "gold": "[Cause] COVID-19 and added Cypress costs [Relation] cause [Effect] Adjusted operating margin slipped to 13% in fiscal 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As we generally view any production process as ultimately replicable in the long run, we lack the confidence to assume the cost advantage can be maintained over a longtime horizon.",
    "output": "[Cause] we generally view any production process as ultimately replicable in the long run [Relation] cause [Effect] we lack the confidence to assume the cost advantage can be maintained over a longtime horizon",
    "gold": "[Cause] we generally view any production process as ultimately replicable in the long run [Relation] cause [Effect] we lack the confidence to assume the cost advantage can be maintained over a longtime horizon",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thus, we think that a customer would be hard-pressed to switch to another supplier and take on a higher risk of failure, just to save on a fraction of a percent of its total cost.",
    "output": "[Cause] save on a fraction of a percent of its total cost [Relation] cause [Effect] a customer would be hard-pressed to switch to another supplier and take on a higher risk of failure",
    "gold": "[Cause] save on a fraction of a percent of its total cost [Relation] cause [Effect] a customer would be hard-pressed to switch to another supplier and take on a higher risk of failure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Sonoco may lack exposure to high-growth emerging markets like competitors Bemis or Sealed Air, stable demand allows a consistent and growing dividend.",
    "output": "[Cause] stable demand [Relation] enable [Effect] a consistent and growing dividend",
    "gold": "[Cause]  stable demand [Relation] enable [Effect]  a consistent and growing dividend",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Similar to other players in this space, the company is also increasingly dependent on the continued strength of China to drive growth, opening it up to the potential for disruption from tariffs and other trade actions.",
    "output": "[Cause] the company is also increasingly dependent on the continued strength of China [Relation] enable [Effect] growth",
    "gold": "[Cause] the company is also increasingly dependent on the continued strength of China to drive growth [Relation] cause [Effect] opening it up to the potential for disruption from tariffs and other trade actions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Similar to other players in this space, the company is also increasingly dependent on the continued strength of China to drive growth, opening it up to the potential for disruption from tariffs and other trade actions.",
    "output": "[Cause] the company is also increasingly dependent on the continued strength of China to drive growth [Relation] cause [Effect] opening it up to the potential for disruption from tariffs and other trade actions",
    "gold": "[Cause] the company is also increasingly dependent on the continued strength of China [Relation] enable [Effect]  drive growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect growth to reaccelerate in 2022, however, not only as Fastly's sales growth trajectory gets back on trend but also because we expect it to realize significantly more revenue from edge computing.",
    "output": "[Cause] Fastly's sales growth trajectory gets back on trend [Relation] cause [Effect] growth to reaccelerate in 2022",
    "gold": "[Cause]  Fastly's sales growth trajectory gets back on trend [Relation] cause [Effect] growth to reaccelerate in 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect growth to reaccelerate in 2022, however, not only as Fastly's sales growth trajectory gets back on trend but also because we expect it to realize significantly more revenue from edge computing.",
    "output": "[Cause] Fastly's sales growth trajectory gets back on trend [Relation] cause [Effect] growth to reaccelerate in 2022",
    "gold": "[Cause] it to realize significantly more revenue from edge computing [Relation] cause [Effect] growth to reaccelerate in 2022",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The chain's fast-changing assortment creates a treasure hunt experience that has a history of drawing customers (posting 3% same-store sales growth on average over the past five years) and has been difficult for online retailers to match.",
    "output": "[Cause] The chain's fast-changing assortment creates a treasure hunt experience [Relation] cause [Effect] has a history of drawing customers (posting 3% same-store sales growth on average over the past five years) and has been difficult for online retailers to match",
    "gold": "[Cause] The chain's fast-changing assortment creates a treasure hunt experience [Relation] cause [Effect] has a history of drawing customers (posting 3% same-store sales growth on average over the past five years) and has been difficult for online retailers to match",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, we believe the firm's decision to divest of its private brands business was beneficial, as it enhances the firm's profitability and frees up capital for higher-return opportunities.",
    "output": "[Cause] it enhances the firm's profitability and frees up capital for higher-return opportunities [Relation] cause [Effect] the firm's decision to divest of its private brands business was beneficial",
    "gold": "[Cause] the firm's decision to divest of its private brands business [Relation] enable [Effect] enhances the firm's profitability and frees up capital for higher-return opportunities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With that backdrop, it might seem likely that competitors that are unburdened by legacy networks could more readily replicate Cogent's business, but we believe that leads back to the favorable terms Cogent originally secured for its network.",
    "output": "[Cause] unburdened by legacy networks [Relation] cause [Effect] competitors that are unburdened",
    "gold": "[Cause] unburdened by legacy networks [Relation] cause [Effect] the favorable terms Cogent originally secured for its network",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We do not believe the threat is material, as the firm has managed fleet changes in the past and has a well-diversified, agile industrial unit.",
    "output": "[Cause] the firm has managed fleet changes in the past and has a well-diversified, agile industrial unit [Relation] cause [Effect] We do not believe the threat is material",
    "gold": "[Cause] the firm has managed fleet changes in the past and has a well-diversified, agile industrial unit [Relation] cause [Effect] We do not believe the threat is material",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Of course, the success of future acquisitions is uncertain, and a variety of factors, such as unfavorable deal terms, integration issues, and subsequent acquisition underperformance, could destroy shareholder value.",
    "output": "[Cause] the success of future acquisitions is uncertain [Relation] cause [Effect] destroy shareholder value",
    "gold": "[Cause] unfavorable deal terms [Relation] prevent [Effect] destroy shareholder value",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Of course, the success of future acquisitions is uncertain, and a variety of factors, such as unfavorable deal terms, integration issues, and subsequent acquisition underperformance, could destroy shareholder value.",
    "output": "[Cause] destroy shareholder value [Relation] cause [Effect] the success of future acquisitions is uncertain",
    "gold": "[Cause] integration issues [Relation] prevent [Effect] destroy shareholder value",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Of course, the success of future acquisitions is uncertain, and a variety of factors, such as unfavorable deal terms, integration issues, and subsequent acquisition underperformance, could destroy shareholder value.",
    "output": "[Cause] subsequent acquisition underperformance [Relation] cause [Effect] destroy shareholder value",
    "gold": "[Cause] subsequent acquisition underperformance [Relation] prevent [Effect] destroy shareholder value",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Of course, the success of future acquisitions is uncertain, and a variety of factors, such as unfavorable deal terms, integration issues, and subsequent acquisition underperformance, could destroy shareholder value.",
    "output": "[Cause] subsequent acquisition underperformance [Relation] cause [Effect] destroy shareholder value",
    "gold": "[Cause] destroy shareholder value [Relation] cause [Effect] the success of future acquisitions is uncertain",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because of its mixed model, Allstate has retained a higher amount of balance sheet leverage compared with many of its property-casualty insurance peers.",
    "output": "[Cause] its mixed model [Relation] cause [Effect] Allstate has retained a higher amount of balance sheet leverage compared with many of its property-casualty insurance peers",
    "gold": "[Cause] its mixed model [Relation] cause [Effect] Allstate has retained a higher amount of balance sheet leverage compared with many of its property-casualty insurance peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We note Qualcomm's expertise in 5G and recent foray into RF front-end components, automotive, and the Internet of Things has helped mitigate some of this pressure.",
    "output": "[Cause] Qualcomm's expertise in 5G and recent foray into RF front-end components, automotive, and the Internet of Things [Relation] enable [Effect] mitigate some of this pressure",
    "gold": "[Cause] Qualcomm's expertise in 5G and recent foray into RF front-end components, automotive, and the Internet of Things [Relation] enable [Effect] mitigate some of this pressure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Meanwhile, we expect it will operate more efficiently through its plan, called Efficiencies for Growth, to cut costs and improve pricing and merchandising.",
    "output": "[Cause] it will operate more efficiently through its plan, called Efficiencies for Growth [Relation] enable [Effect] cut costs and improve pricing and merchandising",
    "gold": "[Cause] it will operate more efficiently through its plan, called Efficiencies for Growth [Relation] enable [Effect] cut costs and improve pricing and merchandising",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Declining market share in France can be turned around through greater investment in stores and differentiation of its product offering to the different consumer profiles at Brico Depot (discounter) and Castorama (big-box general home improvement).",
    "output": "[Cause] greater investment in stores and differentiation of its product offering to the different consumer profiles at Brico Depot (discounter) and Castorama (big-box general home improvement) [Relation] enable [Effect] Declining market share in France can be turned around",
    "gold": "[Cause] greater investment in stores and differentiation of its product offering to the different consumer profiles at Brico Depot (discounter) and Castorama (big-box general home improvement) [Relation] enable [Effect] Declining market share in France can be turned around",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Advance's size should also help its acquisition costs and lead its accounts payable to inventory ratio to converge toward industry leaders, improving efficiency as the firm optimizes its inventory and supply chain and gains cachet with vendors.",
    "output": "[Cause] Advance's size [Relation] enable [Effect] help its acquisition costs and lead its accounts payable to inventory ratio to converge toward industry leaders",
    "gold": "[Cause]  the firm optimizes its inventory and supply chain and gains cachet with vendors [Relation] cause [Effect] improving efficiency",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Advance's size should also help its acquisition costs and lead its accounts payable to inventory ratio to converge toward industry leaders, improving efficiency as the firm optimizes its inventory and supply chain and gains cachet with vendors.",
    "output": "[Cause] Advance's size [Relation] enable [Effect] improve efficiency",
    "gold": "[Cause] Advance's size [Relation] cause [Effect] help its acquisition costs and lead its accounts payable to inventory ratio to converge toward industry leaders",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While disruptive technologies remain a high-risk concern in this innovation-driven industry, we think the firm's differentiated technology, ongoing innovation, and large installed system base create significant entry barriers for competitors.",
    "output": "[Cause] the firm's differentiated technology, ongoing innovation, and large installed system base [Relation] cause [Effect] significant entry barriers for competitors",
    "gold": "[Cause] the firm's differentiated technology, ongoing innovation, and large installed system base [Relation] cause [Effect] significant entry barriers for competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Xcel has made substantial progress in recent years bringing earned returns closer to allowed returns through constructive regulatory negotiations across its system.",
    "output": "[Cause] constructive regulatory negotiations across its system [Relation] enable [Effect] Xcel has made substantial progress in recent years bringing earned returns closer to allowed returns",
    "gold": "[Cause] constructive regulatory negotiations across its system [Relation] enable [Effect] Xcel has made substantial progress in recent years bringing earned returns closer to allowed returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Conversely, we see demand for insecticides, which made up 27% of crop protection sales in 2020, falling over the long term due to an increase in GMO seeds.",
    "output": "[Cause] an increase in GMO seeds [Relation] cause [Effect] demand for insecticides, which made up 27% of crop protection sales in 2020, falling over the long term",
    "gold": "[Cause] an increase in GMO seeds [Relation] cause [Effect] demand for insecticides, which made up 27% of crop protection sales in 2020, falling over the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Within this framework, insurers like Humana need specialized expertise in managing the needs of seniors to improve their health outcomes and ultimately lower costs.",
    "output": "[Cause] specialized expertise in managing the needs of seniors [Relation] enable [Effect] improve their health outcomes and ultimately lower costs",
    "gold": "[Cause] specialized expertise in managing the needs of seniors [Relation] enable [Effect] improve their health outcomes and ultimately lower costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since its formation in 1985, ACE built a franchise with operations in more than 50 countries, and in so doing, carved out a strong position in this niche.",
    "output": "[Cause] ACE built a franchise with operations in more than 50 countries [Relation] enable [Effect] carved out a strong position in this niche",
    "gold": "[Cause] ACE built a franchise with operations in more than 50 countries [Relation] cause [Effect] carved out a strong position in this niche",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Uniti believes it is the only firm really engaging in this type of fiber sale-leaseback business, and we think it could be attractive, so we would not be surprised to see others follow if Uniti proves successful.",
    "output": "[Cause] it is the only firm really engaging in this type of fiber sale-leaseback business, and we think it could be attractive [Relation] cause [Effect] we would not be surprised to see others follow if Uniti proves successful",
    "gold": "[Cause] it is the only firm really engaging in this type of fiber sale-leaseback business, and we think it could be attractive [Relation] cause [Effect] we would not be surprised to see others follow if Uniti proves successful",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the pace of pension risk transfer to be reasonably steady in the near to medium term but decline over the long term due to fewer defined-benefit plans being offered.",
    "output": "[Cause] fewer defined-benefit plans being offered [Relation] cause [Effect] decline over the long term",
    "gold": "[Cause] fewer defined-benefit plans being offered [Relation] cause [Effect] decline over the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think this creates an additional layer of distance between Xylem and the ultimate consumer, which might result in a lower degree of loyalty and make the applied water segment relatively more vulnerable to competition in the long run.",
    "output": "[Cause] this creates an additional layer of distance between Xylem and the ultimate consumer [Relation] cause [Effect] a lower degree of loyalty and make the applied water segment relatively more vulnerable to competition in the long run",
    "gold": "[Cause]  this creates an additional layer of distance between Xylem and the ultimate consumer [Relation] enable [Effect] a lower degree of loyalty and make the applied water segment relatively more vulnerable to competition in the long run",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since sleds have a fairly long life expectancy (can be 10 years or more depending on care and levels of usage), replacement doesn't necessarily have to be frequent.",
    "output": "[Cause] sleds have a fairly long life expectancy [Relation] cause [Effect] replacement doesn't necessarily have to be frequent",
    "gold": "[Cause]  sleds have a fairly long life expectancy [Relation] cause [Effect] replacement doesn't necessarily have to be frequent",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Production problems resulted in greater levels of scrap, increased Omnipod failures for patients, disappointing gross margin, and ultimately, management change.",
    "output": "[Cause] Production problems [Relation] cause [Effect] greater levels of scrap, increased Omnipod failures for patients, disappointing gross margin, and ultimately, management change",
    "gold": "[Cause] Production problems [Relation] cause [Effect]  greater levels of scrap, increased Omnipod failures for patients, disappointing gross margin, and ultimately, management change",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We made the latter two changes to account for more probable omnichannel business over time, enabling higher margins than in the past as less long-term resources are likely needed compared with our expectations in prior years.",
    "output": "[Cause] less long-term resources are likely needed compared with our expectations in prior years [Relation] cause [Effect] We made the latter two changes to account for more probable omnichannel business over time, enabling higher margins than in the past",
    "gold": "[Cause] We made the latter two changes to account for more probable omnichannel business over time [Relation] enable [Effect] higher margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Regulators remain highly involved in power markets, and any regulatory changes will probably have a material positive or negative impact on Exelon, given its size.",
    "output": "[Cause] its size [Relation] cause [Effect] any regulatory changes will probably have a material positive or negative impact on Exelon",
    "gold": "[Cause] its size [Relation] cause [Effect] any regulatory changes will probably have a material positive or negative impact on Exelon",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The COVID-19 outbreak has had a limited impact on construction activity, minimizing any potential value destruction that we're likely to see in other industries.",
    "output": "[Cause] The COVID-19 outbreak has had a limited impact on construction activity [Relation] cause [Effect] minimizing any potential value destruction that we're likely to see in other industries",
    "gold": "[Cause] The COVID-19 outbreak has had a limited impact on construction activity [Relation] cause [Effect] minimizing any potential value destruction that we're likely to see in other industries",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Switching costs are also reinforced with the training Hubbell provides for its products, which is critical given less available skilled labor in the utilities industry.",
    "output": "[Cause] less available skilled labor in the utilities industry [Relation] cause [Effect] Switching costs are also reinforced with the training Hubbell provides for its products",
    "gold": "[Cause]  less available skilled labor in the utilities industry [Relation] enable [Effect] Switching costs are also reinforced with the training Hubbell provides for its products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "OEMs have tried to squeeze Heico and other PMA providers out of the market, but due to an agreement, are no longer likely to.",
    "output": "[Cause] an agreement [Relation] cause [Effect] are no longer likely to",
    "gold": "[Cause]  an agreement [Relation] prevent [Effect]  Heico and other PMA providers out of the market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "High switching costs and high-touch service keep the surgeons closely tied to their primary vendor, and the surgeons bring in enough profitable procedures to keep hospital administrators at bay.",
    "output": "[Cause] High switching costs and high-touch service [Relation] enable [Effect] keep the surgeons closely tied to their primary vendor",
    "gold": "[Cause] High switching costs and high-touch service keep the surgeons closely tied to their primary vendor, and the surgeons bring in enough profitable procedures [Relation] cause [Effect] to keep hospital administrators at bay",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We assume the robomachine business will undergo 40% year-on-year growth for fiscal 2020, from its 10-year low in divisional sales, as a result of strong demand in China.",
    "output": "[Cause] strong demand in China [Relation] cause [Effect] the robomachine business will undergo 40% year-on-year growth for fiscal 2020, from its 10-year low in divisional sales",
    "gold": "[Cause] strong demand in China [Relation] cause [Effect]  the robomachine business will undergo 40% year-on-year growth for fiscal 2020, from its 10-year low in divisional sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But despite the added profits, we believe the reduction in the salesforce hampered organic market share gains, a move with nontrivial consequences, as we view scale as the path to a competitive edge.",
    "output": "[Cause] we view scale as the path to a competitive edge [Relation] cause [Effect] the reduction in the salesforce hampered organic market share gains",
    "gold": "[Cause] we view scale as the path to a competitive edge [Relation] cause [Effect] a move with nontrivial consequences",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This concept may help permeate Check Point's product throughout an organization, since there are no additional costs for using more products, which then creates higher switching costs and better customer retention, in our view.",
    "output": "[Cause] There are no additional costs for using more products [Relation] cause [Effect] creates higher switching costs and better customer retention",
    "gold": "[Cause] This concept may help permeate Check Point's product throughout an organization [Relation] cause [Effect] creates higher switching costs and better customer retention",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Moreover, the firm's relationships with orthopedic clinics are an important intangible asset, as pre-operative and post-operative braces prescribed by doctors constitute the firm's core business in the segment.",
    "output": "[Cause] pre-operative and post-operative braces prescribed by doctors constitute the firm's core business in the segment [Relation] cause [Effect] the firm's relationships with orthopedic clinics are an important intangible asset",
    "gold": "[Cause]  pre-operative and post-operative braces prescribed by doctors constitute the firm's core business in the segment [Relation] cause [Effect] the firm's relationships with orthopedic clinics are an important intangible asset",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we believe ING can succesfully offset the secular trend of a switch away from fossil fuels by continuing to embrace the financing of sustainable energy projects.",
    "output": "[Cause] continuing to embrace the financing of sustainable energy projects [Relation] enable [Effect] ING can succesfully offset the secular trend of a switch away from fossil fuels",
    "gold": "[Cause] continuing to embrace the financing of sustainable energy projects [Relation] cause [Effect] ING can succesfully offset the secular trend of a switch away from fossil fuels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Gentex was the first to market with electrochromic automatic-dimming mirrors, so the company enjoyed pricing benefits from the early adopters of the technology.",
    "output": "[Cause] Gentex was the first to market with electrochromic automatic-dimming mirrors [Relation] cause [Effect] the company enjoyed pricing benefits from the early adopters of the technology",
    "gold": "[Cause] Gentex was the first to market with electrochromic automatic-dimming mirrors [Relation] cause [Effect] the company enjoyed pricing benefits from the early adopters of the technology",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Formerly a supplier of infusion consumables, ICU enhanced its product mix through the transformative acquisition of Hospira Infusion Systems from Pfizer in 2017 by bringing infusion pumps, a broader consumables offerings, and IV solution manufacturing into the fold.",
    "output": "[Cause] the transformative acquisition of Hospira Infusion Systems from Pfizer in 2017 by bringing infusion pumps, a broader consumables offerings, and IV solution manufacturing into the fold [Relation] enable [Effect] ICU enhanced its product mix",
    "gold": "[Cause] the transformative acquisition of Hospira Infusion Systems from Pfizer in 2017 by bringing infusion pumps, a broader consumables offerings, and IV solution manufacturing into the fold [Relation] cause [Effect] ICU enhanced its product mix",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fortune Brands' Therma-Tru entry door brand scores high in brand awareness and quality among homebuilders and contractors, but based on the segment's historical margin and return on investment performance, we think the brand has limited pricing power.",
    "output": "[Cause] the segment's historical margin and return on investment performance [Relation] cause [Effect] the brand has limited pricing power",
    "gold": "[Cause] the segment's historical margin and return on investment performance [Relation] enable [Effect] the brand has limited pricing power",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As interest rates have continued to slide and along with them interest income on fixed income, Hannover has continued to allocate a greater portion of its investment portfolio to real estate, and we expect this to continue.",
    "output": "[Cause] interest rates have continued to slide and along with them interest income on fixed income [Relation] cause [Effect] Hannover has continued to allocate a greater portion of its investment portfolio to real estate",
    "gold": "[Cause] interest rates have continued to slide and along with them interest income on fixed income [Relation] enable [Effect] Hannover has continued to allocate a greater portion of its investment portfolio to real estate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A large portion of the segment's revenue is recurring, as customers tend to replace equipment with similar products from the same company, which drives robust aftermarket revenue.",
    "output": "[Cause] customers tend to replace equipment with similar products from the same company [Relation] cause [Effect] A large portion of the segment's revenue is recurring",
    "gold": "[Cause] customers tend to replace equipment with similar products from the same company [Relation] cause [Effect] drives robust aftermarket revenue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect a fairly flat operating margins over that period as cost-cutting efforts help to offset expansion into lower-margin geographies and lost sales from the high-margin drug Advair.",
    "output": "[Cause] cost-cutting efforts help to offset expansion into lower-margin geographies and lost sales from the high-margin drug Advair [Relation] cause [Effect] a fairly flat operating margins over that period",
    "gold": "[Cause]  cost-cutting efforts [Relation] cause [Effect] offset expansion into lower-margin geographies and lost sales from the high-margin drug Advair",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, during periods of rapid fuel price increases, truckload carriers often see modest temporary margin headwinds due to the time lag associated with adjusting fuel surcharges to shippers.",
    "output": "[Cause] the time lag associated with adjusting fuel surcharges to shippers [Relation] cause [Effect] truckload carriers often see modest temporary margin headwinds",
    "gold": "[Cause] the time lag associated with adjusting fuel surcharges to shippers [Relation] cause [Effect] truckload carriers often see modest temporary margin headwinds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From a partnership side, we believe the hyperscale cloud vendors find value in collaborating with F5 due to its strong brand presence and engineering aptitude, which drives increased traffic flow to their respective clouds.",
    "output": "[Cause] its strong brand presence and engineering aptitude [Relation] cause [Effect] the hyperscale cloud vendors find value in collaborating with F5",
    "gold": "[Cause]  strong brand presence and engineering aptitude, which drives increased traffic flow to their respective clouds [Relation] cause [Effect] the hyperscale cloud vendors find value in collaborating with F5",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Soybean oil and meal are the firm's primary soybean products, with oils sold mainly to food customers and meal to feed customers. As such, ADM's ag services and oilseeds segment is exposed to the soy crush margin, or the difference between the price of soybeans and the prices of soy meal and oil.",
    "output": "[Cause] Soybean oil and meal are the firm's primary soybean products, with oils sold mainly to food customers and meal to feed customers [Relation] cause [Effect] ADM's ag services and oilseeds segment is exposed to the soy crush margin, or the difference between the price of soybeans and the prices of soy meal and oil",
    "gold": "[Cause] Soybean oil and meal are the firm's primary soybean products, with oils sold mainly to food customers and meal to feed customers [Relation] cause [Effect] ADM's ag services and oilseeds segment is exposed to the soy crush margin, or the difference between the price of soybeans and the prices of soy meal and oil",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Darden is one of the largest casual dining restaurant operators in the United States, representing more than 4% of the pre-coronavirus $185 billion domestic casual dining market (based on estimates derived from Technomic data). This places the company in the same range as DineEquity (4% share based on total systemwide sales) and ahead of Bloomin' Brands (3%), Brinker International (2%), and Cheesecake Factory (2%).",
    "output": "[Cause] Darden is one of the largest casual dining restaurant operators in the United States, representing more than 4% of the pre-coronavirus $185 billion domestic casual dining market (based on estimates derived from Technomic data) [Relation] cause [Effect] places the company in the same range as DineEquity (4% share based on total systemwide sales) and ahead of Bloomin' Brands (3%), Brinker International (2%), and Cheesecake Factory (2%)",
    "gold": "[Cause] Darden is one of the largest casual dining restaurant operators in the United States, representing more than 4% of the pre-coronavirus $185 billion domestic casual dining market (based on estimates derived from Technomic data) [Relation] cause [Effect] places the company in the same range as DineEquity (4% share based on total systemwide sales) and ahead of Bloomin' Brands (3%), Brinker International (2%), and Cheesecake Factory (2%)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This contributes to economies of scale and scope and can create switching costs for customers as they use the bank for more and more products.",
    "output": "[Cause] they use the bank for more and more products [Relation] cause [Effect] This contributes to economies of scale and scope and can create switching costs for customers",
    "gold": "[Cause] they use the bank for more and more products [Relation] cause [Effect] This contributes to economies of scale and scope and can create switching costs for customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With 2020-21 set to be plagued by competitive pricing as Royal and the other cruise operators try to entice cruisers to sail again, we don't see Royal reaching 2019 pricing again until 2024 (it took until 2017 to recover back to 2008 yields after the last recession).",
    "output": "[Cause] 2020-21 set to be plagued by competitive pricing as Royal and the other cruise operators try to entice cruisers to sail again [Relation] cause [Effect] we don't see Royal reaching 2019 pricing again until 2024 (it took until 2017 to recover back to 2008 yields after the last recession)",
    "gold": "[Cause] 2020-21 set to be plagued by competitive pricing as Royal and the other cruise operators try to entice cruisers to sail again [Relation] cause [Effect] we don't see Royal reaching 2019 pricing again until 2024 (it took until 2017 to recover back to 2008 yields after the last recession)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although near-term pricing has recently strengthened due to carbon pricing, our long-term view of Alberta power prices remains neutral due in part to limits on pipeline capacity to move natural gas out of Alberta.",
    "output": "[Cause] limits on pipeline capacity to move natural gas out of Alberta [Relation] cause [Effect] our long-term view of Alberta power prices remains neutral",
    "gold": "[Cause]  limits on pipeline capacity to move natural gas out of Alberta [Relation] cause [Effect]  our long-term view of Alberta power prices remains neutral",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The legacy Vistar business could be advantaged, given its market leading positions, share gains, and attractive profitability, but at 16% of total company revenue (7% after the Core-Mark deal closes), it is too insignificant to affect the competitive standing of the firm overall, in our view.",
    "output": "[Cause] its market leading positions, share gains, and attractive profitability [Relation] cause [Effect] The legacy Vistar business could be advantaged",
    "gold": "[Cause] its market leading positions, share gains, and attractive profitability [Relation] enable [Effect] The legacy Vistar business could be advantaged",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the core cable business, we anticipate 2% average annual revenue growth, with a declining television customer base holding the segment back.",
    "output": "[Cause] a declining television customer base holding the segment back [Relation] cause [Effect] 2% average annual revenue growth",
    "gold": "[Cause] a declining television customer base holding the segment back [Relation] cause [Effect] 2% average annual revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nevertheless, positive trends are expected despite recent interest rate volatility; however, we anticipate growth will still likely be slower than the prerecession pace, given our position in the current economic cycle.",
    "output": "[Cause] our position in the current economic cycle [Relation] cause [Effect] growth will still likely be slower than the prerecession pace",
    "gold": "[Cause] our position in the current economic cycle [Relation] enable [Effect] growth will still likely be slower than the prerecession pace",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While nutritional snack bars used to all reside in the HABA department, decelerating growth in the center of the store led several retailers to shift most nutritional snack bars to the grocery aisle to drive traffic to that section of the store.",
    "output": "[Cause] decelerating growth in the center of the store [Relation] cause [Effect] several retailers to shift most nutritional snack bars to the grocery aisle to drive traffic to that section of the store",
    "gold": "[Cause] decelerating growth in the center of the store [Relation] cause [Effect] several retailers to shift most nutritional snack bars to the grocery aisle to drive traffic to that section of the store",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, by virtue of the company's decadeslong focus on the nonprofit sector and market leadership position, we think organizations typically are including Blackbaud solutions within their consideration sets.",
    "output": "[Cause] virtue of the company's decadeslong focus on the nonprofit sector and market leadership position [Relation] cause [Effect] organizations typically are including Blackbaud solutions within their consideration sets",
    "gold": "[Cause]  virtue of the company's decadeslong focus on the nonprofit sector and market leadership position [Relation] enable [Effect]  organizations typically are including Blackbaud solutions within their consideration sets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The retail customer's need for assistance in purchasing the right component should forestall significant disruption of Advance's hard part sales by nontraditional, digital retailers (like Amazon) for the foreseeable future.",
    "output": "[Cause] The retail customer's need for assistance in purchasing the right component [Relation] prevent [Effect] significant disruption of Advance's hard part sales by nontraditional, digital retailers (like Amazon) for the foreseeable future",
    "gold": "[Cause] The retail customer's need for assistance in purchasing the right component [Relation] prevent [Effect] significant disruption of Advance's hard part sales by nontraditional, digital retailers (like Amazon) for the foreseeable future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "EDU expects margin improvement in second-half fiscal 2021 amid scattered COVID-19 incidents in China, given that EDU expect smaller players may exit the market post-OVID-19, which gives EDU more opportunities to increase its market share.",
    "output": "[Cause] scattered COVID-19 incidents in China [Relation] cause [Effect] margin improvement in second-half fiscal 2021",
    "gold": "[Cause] EDU expect smaller players may exit the market post-OVID-19 [Relation] enable [Effect] gives EDU more opportunities to increase its market share",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "EDU expects margin improvement in second-half fiscal 2021 amid scattered COVID-19 incidents in China, given that EDU expect smaller players may exit the market post-OVID-19, which gives EDU more opportunities to increase its market share.",
    "output": "[Cause] EDU expect smaller players may exit the market post-OVID-19 [Relation] cause [Effect] EDU more opportunities to increase its market share",
    "gold": "[Cause] gives EDU more opportunities to increase its market share [Relation] cause [Effect]  margin improvement in second-half fiscal 2021 amid scattered COVID-19 incidents in China",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Following a sharp patent cliff in 2013, Sanofi faces relatively mild patent losses, and diverse operations in vaccines, consumer products, and emerging markets should lead to steady growth over the long term.",
    "output": "[Cause] diverse operations in vaccines, consumer products, and emerging markets [Relation] cause [Effect] steady growth over the long term",
    "gold": "[Cause] diverse operations in vaccines, consumer products, and emerging markets [Relation] cause [Effect]  steady growth over the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we anticipate the base rate returning to a more normalized level of 3.00% by the end of 2025, persistently low rates can pressure profitability.",
    "output": "[Cause] persistently low rates [Relation] cause [Effect] pressure profitability",
    "gold": "[Cause] persistently low rates [Relation] cause [Effect] pressure profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From an operational standpoint, we forecast that Truist will have an efficiency ratio in the mid-50s. This will be driven by BB&amp;T's historically good operating efficiency as well as the material cost savings we see coming from the merger.",
    "output": "[Cause] BB&amp;T's historically good operating efficiency as well as the material cost savings we see coming from the merger [Relation] cause [Effect] Truist will have an efficiency ratio in the mid-50s",
    "gold": "[Cause] BB&amp;T's historically good operating efficiency as well as the material cost savings we see coming from the merger [Relation] enable [Effect] Truist will have an efficiency ratio in the mid-50s",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're holding steady on our fair value estimate of $66 per share, which reflects continued robust growth in COVID-19 molecular tests in fiscal 2021, along with the pandemic putting pressure on the breast health, cytology, and gynecological surgery businesses.",
    "output": "[Cause] the pandemic putting pressure on the breast health, cytology, and gynecological surgery businesses [Relation] cause [Effect] We're holding steady on our fair value estimate of $66 per share",
    "gold": "[Cause] We're holding steady on our fair value estimate of $66 per share, which reflects continued robust growth in COVID-19 molecular tests in fiscal 2021 [Relation] cause [Effect]  the pandemic putting pressure on the breast health, cytology, and gynecological surgery businesses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Large spikes in volatility generally lead to higher trading volume for CME while low volatility leads to lower trading volumes.",
    "output": "[Cause] Large spikes in volatility [Relation] cause [Effect] higher trading volume for CME",
    "gold": "[Cause] Large spikes in volatility [Relation] cause [Effect]  higher trading volume for CME",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Large spikes in volatility generally lead to higher trading volume for CME while low volatility leads to lower trading volumes.",
    "output": "[Cause] low volatility [Relation] cause [Effect] lower trading volumes",
    "gold": "[Cause]  low volatility [Relation] cause [Effect]  lower trading volumes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Demand for industrial gases is strongly correlated to global industrial production, so core volume growth will depend on the growth of the world economy.",
    "output": "[Cause] Demand for industrial gases is strongly correlated to global industrial production [Relation] cause [Effect] core volume growth will depend on the growth of the world economy",
    "gold": "[Cause] Demand for industrial gases is strongly correlated to global industrial production [Relation] cause [Effect] core volume growth will depend on the growth of the world economy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The nature of the television business has changed dramatically in recent years as rival cable and phone companies have focused on Internet access, selling television service at steadily lower margins.",
    "output": "[Cause] rival cable and phone companies have focused on Internet access, selling television service at steadily lower margins [Relation] cause [Effect] The nature of the television business has changed dramatically in recent years",
    "gold": "[Cause] rival cable and phone companies have focused on Internet access, selling television service at steadily lower margins [Relation] cause [Effect] The nature of the television business has changed dramatically in recent years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to the pandemic, we expect operating margins to increase from 17% in 2020 to 18%, thanks to savings from formerly significant travel costs.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] operating margins to increase from 17% in 2020 to 18%",
    "gold": "[Cause] the pandemic | savings from formerly significant travel costs [Relation] cause [Effect] operating margins to increase from 17% in 2020 to 18%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With a network than can be upgraded at modest incremental cost, we expect Internet access share will continue to shift in Comcast's favor, enabling the firm to gain additional scale efficiencies.",
    "output": "[Cause] Internet access share will continue to shift in Comcast's favor [Relation] enable [Effect] the firm to gain additional scale efficiencies",
    "gold": "[Cause] a network than can be upgraded at modest incremental cost [Relation] cause [Effect] Internet access share will continue to shift in Comcast's favor, enabling the firm to gain additional scale efficiencies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Most importantly, scale will be lost from ships that remain in layup, as we anticipate Royal will execute a staggered, limited return to the sailing of its fleet at the beginning of 2021.",
    "output": "[Cause] Royal will execute a staggered, limited return to the sailing of its fleet at the beginning of 2021 [Relation] cause [Effect] scale will be lost from ships that remain in layup",
    "gold": "[Cause]  Royal will execute a staggered, limited return to the sailing of its fleet at the beginning of 2021 [Relation] cause [Effect] scale will be lost from ships that remain in layup",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While gradual wage hikes can be offset by investments in automation and price increases, a steep jump could prove detrimental as we estimate a breakpoint around 3% for annual menu price increases, after which likely traffic and unit volume contractions would lead to operating deleverage and lower margins.",
    "output": "[Cause] a breakpoint around 3% for annual menu price increases [Relation] cause [Effect] a steep jump could prove detrimental",
    "gold": "[Cause] a breakpoint around 3% for annual menu price increases, after which likely traffic and unit volume contractions [Relation] cause [Effect] operating deleverage and lower margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The delay in issuing 3G licenses, meaning a concentrated investment period in 3G then 4G and soon 5G mobile networks, in a shorter period of time than other markets has also not helped returns.",
    "output": "[Cause] The delay in issuing 3G licenses [Relation] cause [Effect] a concentrated investment period in 3G then 4G and soon 5G mobile networks, in a shorter period of time than other markets has also not helped returns",
    "gold": "[Cause] The delay in issuing 3G licenses [Relation] cause [Effect] a concentrated investment period in 3G then 4G and soon 5G mobile networks, in a shorter period of time than other markets has also not helped returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Brand Intangible AssetsPotentially offsetting the challenge of generating economic profit from regulation intangibles, we think that the creation of brand intangibles would help cannabis companies pass the increased cost to consumers, thus protecting their own economic profit.",
    "output": "[Cause] Brand Intangible AssetsPotentially [Relation] prevent [Effect] the challenge of generating economic profit from regulation intangibles",
    "gold": "[Cause] Brand Intangible AssetsPotentially [Relation] prevent [Effect] the challenge of generating economic profit from regulation intangibles",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Brand Intangible AssetsPotentially offsetting the challenge of generating economic profit from regulation intangibles, we think that the creation of brand intangibles would help cannabis companies pass the increased cost to consumers, thus protecting their own economic profit.",
    "output": "[Cause] the creation of brand intangibles [Relation] enable [Effect] cannabis companies pass the increased cost to consumers",
    "gold": "[Cause]  the creation of brand intangibles [Relation] enable [Effect]  cannabis companies pass the increased cost to consumers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Brand Intangible AssetsPotentially offsetting the challenge of generating economic profit from regulation intangibles, we think that the creation of brand intangibles would help cannabis companies pass the increased cost to consumers, thus protecting their own economic profit.",
    "output": "[Cause] the creation of brand intangibles [Relation] enable [Effect] cannabis companies pass the increased cost to consumers",
    "gold": "[Cause]  cannabis companies pass the increased cost to consumers [Relation] enable [Effect] protecting their own economic profit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, as these companies are vital to the development of the country's fledgling oil and gas industry, we see little chance that fiscal terms for Hess and its partners would adversely shift.",
    "output": "[Cause] these companies are vital to the development of the country's fledgling oil and gas industry [Relation] cause [Effect] we see little chance that fiscal terms for Hess and its partners would adversely shift",
    "gold": "[Cause] these companies are vital to the development of the country's fledgling oil and gas industry [Relation] cause [Effect] we see little chance that fiscal terms for Hess and its partners would adversely shift",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, the group should become more efficient by streamlining the cost base while providing a better customer experience.",
    "output": "[Cause] streamlining the cost base while providing a better customer experience [Relation] cause [Effect] the group should become more efficient",
    "gold": "[Cause] the group should become more efficient by streamlining the cost base [Relation] enable [Effect] a better customer experience",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Intel's processors are incumbent in the lion's share of servers, and we believe the x86 ecosystem coupled with the newer server CPU variants developed with 10-nm technology will thwart offerings by ARM.",
    "output": "[Cause] the x86 ecosystem coupled with the newer server CPU variants developed with 10-nm technology [Relation] prevent [Effect] offerings by ARM",
    "gold": "[Cause] Intel's processors are incumbent in the lion's share of servers [Relation] cause [Effect] the x86 ecosystem coupled with the newer server CPU variants developed with 10-nm technology will thwart offerings by ARM",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Utilities are generally price-insensitive (costs are passed to retail customers) and primarily concerned with supply reliability (supply disruptions for utilities can result in regulatory penalties).",
    "output": "[Cause] supply disruptions for utilities [Relation] cause [Effect] regulatory penalties",
    "gold": "[Cause] supply disruptions for utilities can result in regulatory penalties [Relation] cause [Effect] Utilities are generally price-insensitive (costs are passed to retail customers) and primarily concerned with supply reliability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Its German competitors have been slow to develop competitive digital offerings, allowing ING to make hay while the sun shines, this will however not continue unabated.",
    "output": "[Cause] Its German competitors have been slow to develop competitive digital offerings [Relation] enable [Effect] ING to make hay while the sun shines",
    "gold": "[Cause] Its German competitors have been slow to develop competitive digital offerings [Relation] enable [Effect]  ING to make hay while the sun shines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Legacy PotashCorp management invested in a new low-cost potash mine and completed an asset optimization before the merger to reduce unit production costs and solidify PotashCorp's low-cost position on the cost curve.",
    "output": "[Cause] Legacy PotashCorp management invested in a new low-cost potash mine and completed an asset optimization before the merger [Relation] enable [Effect] reduce unit production costs and solidify PotashCorp's low-cost position on the cost curve",
    "gold": "[Cause] Legacy PotashCorp management invested in a new low-cost potash mine and completed an asset optimization before the merger [Relation] enable [Effect] reduce unit production costs and solidify PotashCorp's low-cost position on the cost curve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The new competition also means that the prices paid for acreage will be more market-oriented in the future, capping returns on capital closer to Viper's cost of capital.",
    "output": "[Cause] The new competition [Relation] cause [Effect] the prices paid for acreage will be more market-oriented in the future, capping returns on capital closer to Viper's cost of capital",
    "gold": "[Cause] The new competition [Relation] cause [Effect]  the prices paid for acreage will be more market-oriented in the future, capping returns on capital closer to Viper's cost of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Both through organic investments and acquisitions, Moody's Analytics (MA) has been a key source of growth and currently makes up 38% of the firm's revenue and 23% of the firm's adjusted operating income.",
    "output": "[Cause] Both through organic investments and acquisitions [Relation] enable [Effect] Moody's Analytics (MA) has been a key source of growth and currently makes up 38% of the firm's revenue and 23% of the firm's adjusted operating income",
    "gold": "[Cause] Both through organic investments and acquisitions [Relation] enable [Effect] Moody's Analytics (MA) has been a key source of growth and currently makes up 38% of the firm's revenue and 23% of the firm's adjusted operating income",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Offering secure and convenient payment settlement between sellers and buyers on and off the MercadoLibre platform, MercadoPago attracts more sellers if more buyers sign up to use the services; the more sellers offer MercadoPago's payment solutions, the more popular the service will become among buyers.",
    "output": "[Cause] more buyers sign up to use the services [Relation] enable [Effect] MercadoPago attracts more sellers",
    "gold": "[Cause]  MercadoPago attracts more sellers if more buyers sign up to use the services [Relation] cause [Effect] the more sellers offer MercadoPago's payment solutions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We assume a mix shift toward online sales will weigh on Scotts' pricing power and cause operating margins to slightly contract to 23% by 2029 from 24% in fiscal 2020.",
    "output": "[Cause] a mix shift toward online sales [Relation] cause [Effect] weigh on Scotts' pricing power and cause operating margins to slightly contract to 23% by 2029 from 24% in fiscal 2020",
    "gold": "[Cause]  a mix shift toward online sales [Relation] cause [Effect]  weigh on Scotts' pricing power and cause operating margins to slightly contract to 23% by 2029 from 24% in fiscal 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's NIM rose in 2018 and 2019 due to rising rates but can be sensitive to factors such as reinvestment yields and the level of deposits.",
    "output": "[Cause] rising rates [Relation] cause [Effect] The firm's NIM rose in 2018 and 2019",
    "gold": "[Cause] rising rates [Relation] cause [Effect] The firm's NIM rose in 2018 and 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's NIM rose in 2018 and 2019 due to rising rates but can be sensitive to factors such as reinvestment yields and the level of deposits.",
    "output": "[Cause] rising rates [Relation] cause [Effect] The firm's NIM rose in 2018 and 2019",
    "gold": "[Cause] The firm's NIM rose in 2018 and 2019 [Relation] cause [Effect] sensitive to factors such as reinvestment yields and the level of deposits",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our opinion, the significant shared capacity between the three largest players can force Carnival to be a price-taker in periods of economic or geopolitical distress, despite offering widespread choices.",
    "output": "[Cause] the significant shared capacity between the three largest players [Relation] enable [Effect] Carnival to be a price-taker in periods of economic or geopolitical distress",
    "gold": "[Cause] the significant shared capacity between the three largest players [Relation] enable [Effect] Carnival to be a price-taker in periods of economic or geopolitical distress",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These firms have longer operating histories, more resources, and better brand recognition, which delivers them an edge in this arena.",
    "output": "[Cause] These firms have longer operating histories, more resources, and better brand recognition [Relation] enable [Effect] delivers them an edge in this arena",
    "gold": "[Cause] These firms have longer operating histories, more resources, and better brand recognition [Relation] enable [Effect] delivers them an edge in this arena",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "L Brands' growth framework has historically sought 5%-10% annual sales growth, driven by low-single-digit North America comp-store growth, flat North America square footage, midteens direct sales growth, and low-20% international growth.",
    "output": "[Cause] low-single-digit North America comp-store growth, flat North America square footage, midteens direct sales growth, and low-20% international growth [Relation] cause [Effect] L Brands' growth framework has historically sought 5%-10% annual sales growth",
    "gold": "[Cause] low-single-digit North America comp-store growth, flat North America square footage, midteens direct sales growth, and low-20% international growth [Relation] cause [Effect] L Brands' growth framework has historically sought 5%-10% annual sales growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the dual-brand strategy--Tmall Global will continue to use a third-party model, while Kaola will deploy a first-party model--global merchants will have greater flexibility in their go-to-market strategies, which should help Alibaba accelerate its import services.",
    "output": "[Cause] the dual-brand strategy [Relation] cause [Effect] Alibaba accelerate its import services",
    "gold": "[Cause] the dual-brand strategy--Tmall Global will continue to use a third-party model, while Kaola will deploy a first-party model [Relation] cause [Effect] global merchants will have greater flexibility in their go-to-market strategies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the dual-brand strategy--Tmall Global will continue to use a third-party model, while Kaola will deploy a first-party model--global merchants will have greater flexibility in their go-to-market strategies, which should help Alibaba accelerate its import services.",
    "output": "[Cause] global merchants will have greater flexibility in their go-to-market strategies [Relation] enable [Effect] Alibaba accelerate its import services",
    "gold": "[Cause] global merchants will have greater flexibility in their go-to-market strategies [Relation] enable [Effect] Alibaba accelerate its import services",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In response to the pandemic, we surmise Carnival will be subject to higher product governance costs as the firm implements improved quality and safety controls, which we capture in our base-case scenario.",
    "output": "[Cause] the firm implements improved quality and safety controls [Relation] cause [Effect] Carnival will be subject to higher product governance costs",
    "gold": "[Cause]  the firm implements improved quality and safety controls [Relation] cause [Effect] Carnival will be subject to higher product governance costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A security breach in Experian's systems could damage its reputation and expose it to legal liability; historically, the company has had its systems hacked and had information on consumers stolen.",
    "output": "[Cause] A security breach in Experian's systems [Relation] cause [Effect] damage its reputation and expose it to legal liability",
    "gold": "[Cause] A security breach in Experian's systems [Relation] cause [Effect] damage its reputation and expose it to legal liability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect further cost synergies to emerge from sales and administration, thanks to more cross-selling and bundling of products and services.",
    "output": "[Cause] more cross-selling and bundling of products and services [Relation] enable [Effect] further cost synergies to emerge from sales and administration",
    "gold": "[Cause] more cross-selling and bundling of products and services [Relation] enable [Effect] further cost synergies to emerge from sales and administration",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For clients, Robert Half presents the best candidates, reducing the time and effort clients spend sifting through less-than-ideal candidates that apply to online job posts.",
    "output": "[Cause] Robert Half presents the best candidates [Relation] enable [Effect] reducing the time and effort clients spend sifting through less-than-ideal candidates that apply to online job posts",
    "gold": "[Cause] Robert Half presents the best candidates [Relation] cause [Effect] reducing the time and effort clients spend sifting through less-than-ideal candidates that apply to online job posts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also of note is even though EVs may decrease the frequency of service visits, the dollar amount of repairs can be significantly higher than a traditional vehicle due to expensive electronics for the battery, safety, and autonomous driving systems.",
    "output": "[Cause] expensive electronics for the battery, safety, and autonomous driving systems [Relation] cause [Effect] the dollar amount of repairs can be significantly higher than a traditional vehicle",
    "gold": "[Cause] expensive electronics for the battery, safety, and autonomous driving systems [Relation] cause [Effect]  the dollar amount of repairs can be significantly higher than a traditional vehicle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate elevated commercial HVAC sales for the foreseeable future driven by heightened demand for more energy-efficient systems that deliver better air quality, and we believe Johnson Controls, along with other leading HVAC companies, are well positioned to serve this growing market.",
    "output": "[Cause] heightened demand for more energy-efficient systems that deliver better air quality [Relation] cause [Effect] elevated commercial HVAC sales for the foreseeable future",
    "gold": "[Cause] heightened demand for more energy-efficient systems that deliver better air quality [Relation] enable [Effect] elevated commercial HVAC sales for the foreseeable future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Like the streaming services that it offers, Roku has benefited from the coronavirus-driven stay-home trend but the secular shift toward streaming should provide a tailwind to both user and hour growth over the next few years.",
    "output": "[Cause] the secular shift toward streaming [Relation] enable [Effect] provide a tailwind to both user and hour growth over the next few years",
    "gold": "[Cause] the secular shift toward streaming [Relation] enable [Effect]  provide a tailwind to both user and hour growth over the next few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The unified communications market has undergone a sizable shift with the advent of cloud-based solutions, and Cisco's previous leadership in hardware-based solutions are being scorned for new as-a-service offerings.",
    "output": "[Cause] the advent of cloud-based solutions [Relation] cause [Effect] The unified communications market has undergone a sizable shift",
    "gold": "[Cause]  for new as-a-service offerings [Relation] cause [Effect] Cisco's previous leadership in hardware-based solutions are being scorned",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "About 80% of Tyson's products are undifferentiated (commoditized) and therefore it is difficult for them to command price premiums and higher returns.",
    "output": "[Cause] About 80% of Tyson's products are undifferentiated (commoditized) [Relation] cause [Effect] it is difficult for them to command price premiums and higher returns",
    "gold": "[Cause] About 80% of Tyson's products are undifferentiated (commoditized) [Relation] cause [Effect] it is difficult for them to command price premiums and higher returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the decades since inception, Polaris and BRP (Bombardier) have delivered more compelling and technologically advanced products than their peers. This has allowed Polaris and Can-Am to take stronger market share positions than peers in recent years, including close competitor Arctic Cat.",
    "output": "[Cause] Polaris and BRP (Bombardier) have delivered more compelling and technologically advanced products than their peers [Relation] enable [Effect] Polaris and Can-Am to take stronger market share positions than peers in recent years, including close competitor Arctic Cat",
    "gold": "[Cause] Polaris and BRP (Bombardier) have delivered more compelling and technologically advanced products than their peers [Relation] enable [Effect] Polaris and Can-Am to take stronger market share positions than peers in recent years, including close competitor Arctic Cat",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "VF could suffer from a full-blown trade war with China or a slowdown in the Chinese economy due to COVID-19 or any other reason.",
    "output": "[Cause] COVID-19 or any other reason [Relation] cause [Effect] VF could suffer from a full-blown trade war with China or a slowdown in the Chinese economy",
    "gold": "[Cause] COVID-19 or any other reason [Relation] cause [Effect] VF could suffer from a full-blown trade war with China or a slowdown in the Chinese economy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ongoing investigations into the bribery scheme led to the termination of the former CEO and are a public relations nightmare.",
    "output": "[Cause] Ongoing investigations into the bribery scheme [Relation] cause [Effect] the termination of the former CEO and are a public relations nightmare",
    "gold": "[Cause] Ongoing investigations into the bribery scheme [Relation] cause [Effect] the termination of the former CEO and are a public relations nightmare",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe smaller local and regional competitors will struggle to win share in these niche markets, allowing Ferguson to maintain its strong market share positions.",
    "output": "[Cause] smaller local and regional competitors will struggle to win share in these niche markets [Relation] enable [Effect] Ferguson to maintain its strong market share positions",
    "gold": "[Cause] smaller local and regional competitors will struggle to win share in these niche markets [Relation] enable [Effect] Ferguson to maintain its strong market share positions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because Marsh & McLennan generally takes a percentage of premium amounts as commission, it is exposed to the direction of the insurance pricing cycle.",
    "output": "[Cause] Marsh & McLennan generally takes a percentage of premium amounts as commission [Relation] cause [Effect] it is exposed to the direction of the insurance pricing cycle",
    "gold": "[Cause] Marsh & McLennan generally takes a percentage of premium amounts as commission [Relation] enable [Effect]  it is exposed to the direction of the insurance pricing cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We view Aecom's transformation favorably and believe that the strategic shift will result in a less volatile and more profitable portfolio.",
    "output": "[Cause] the strategic shift [Relation] cause [Effect] a less volatile and more profitable portfolio",
    "gold": "[Cause] the strategic shift [Relation] cause [Effect] a less volatile and more profitable portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Utilizing its distribution network more comprehensively allows the firm to spread investments in inventory management technology and supply chain automation across a broader pool of sales and stores, further improving the company's cost profile in a way that is difficult for smaller competitors to replicate.",
    "output": "[Cause] Utilizing its distribution network more comprehensively [Relation] enable [Effect] the firm to spread investments in inventory management technology and supply chain automation across a broader pool of sales and stores",
    "gold": "[Cause] Utilizing its distribution network more comprehensively [Relation] enable [Effect] the firm to spread investments in inventory management technology and supply chain automation across a broader pool of sales and stores",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Utilizing its distribution network more comprehensively allows the firm to spread investments in inventory management technology and supply chain automation across a broader pool of sales and stores, further improving the company's cost profile in a way that is difficult for smaller competitors to replicate.",
    "output": "[Cause] Utilizing its distribution network more comprehensively [Relation] enable [Effect] the firm to spread investments in inventory management technology and supply chain automation across a broader pool of sales and stores",
    "gold": "[Cause] a way that is difficult for smaller competitors to replicate [Relation] enable [Effect] further improving the company's cost profile",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We see the bank's efficiency ratio worsening as a less favorable interest-rate environment challenges net interest margins, but eventually we believe the efficiency ratio will normalize to 53% through the cycle.",
    "output": "[Cause] a less favorable interest-rate environment challenges net interest margins [Relation] cause [Effect] the bank's efficiency ratio worsening",
    "gold": "[Cause]  a less favorable interest-rate environment [Relation] prevent [Effect] net interest margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We see the bank's efficiency ratio worsening as a less favorable interest-rate environment challenges net interest margins, but eventually we believe the efficiency ratio will normalize to 53% through the cycle.",
    "output": "[Cause] a less favorable interest-rate environment challenges net interest margins [Relation] cause [Effect] the bank's efficiency ratio worsening",
    "gold": "[Cause] a less favorable interest-rate environment challenges net interest margins [Relation] cause [Effect] the bank's efficiency ratio worsening",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are not too concerned about Carlsberg's smaller global volumes relative to AB InBev and Heineken because it is regional scale that creates a cost advantage.",
    "output": "[Cause] it is regional scale that creates a cost advantage [Relation] cause [Effect] We are not too concerned about Carlsberg's smaller global volumes relative to AB InBev and Heineken",
    "gold": "[Cause]  it is regional scale that creates a cost advantage [Relation] cause [Effect] We are not too concerned about Carlsberg's smaller global volumes relative to AB InBev and Heineken",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Marvell will achieve a 10% top-line CAGR over the next five years as HDD declines and SSD controller growth offset each other to low-single-digit growth and the firm's networking segment grows in the low teens.",
    "output": "[Cause] HDD declines and SSD controller growth offset each other to low-single-digit growth and the firm's networking segment grows in the low teens [Relation] cause [Effect] Marvell will achieve a 10% top-line CAGR over the next five years",
    "gold": "[Cause] HDD declines and SSD controller growth offset each other to low-single-digit growth and the firm's networking segment grows in the low teens [Relation] enable [Effect] Marvell will achieve a 10% top-line CAGR over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, most of H&P's ESG exposure comes from greenhouse gas emissions (through extraction operations and downstream consumption) and other emissions, effluents, and waste (primarily oil spills).",
    "output": "[Cause] greenhouse gas emissions (through extraction operations and downstream consumption) and other emissions, effluents, and waste (primarily oil spills) [Relation] cause [Effect] most of H&P's ESG exposure",
    "gold": "[Cause] greenhouse gas emissions (through extraction operations and downstream consumption) and other emissions, effluents, and waste (primarily oil spills) [Relation] cause [Effect] most of H&P's ESG exposure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe EDU can trade above its industry peers' average with its leading position and also solid revenue growth in China.",
    "output": "[Cause] its leading position and also solid revenue growth in China [Relation] enable [Effect] EDU can trade above its industry peers' average",
    "gold": "[Cause] EDU can trade above its industry peers' average with its leading position and also solid revenue [Relation] enable [Effect] growth in China",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Few digital retailers can combine depth of inventory with speed of delivery. For this reason, a Tire Rack-like model (where the customer buys tires online and has them shipped to an approved shop for installation) is less likely to succeed for failure-related parts that require immediate replacement.",
    "output": "[Cause] Few digital retailers can combine depth of inventory with speed of delivery [Relation] cause [Effect] a Tire Rack-like model (where the customer buys tires online and has them shipped to an approved shop for installation) is less likely to succeed for failure-related parts that require immediate replacement",
    "gold": "[Cause] Few digital retailers can combine depth of inventory with speed of delivery [Relation] cause [Effect] a Tire Rack-like model (where the customer buys tires online and has them shipped to an approved shop for installation) is less likely to succeed for failure-related parts that require immediate replacement",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The legacy Covance business also benefits from intangible assets, including expertise with local country cultures, regulatory agencies, and changing regulations, research design, data analytics, knowledge of key disease states, and close relationships with pharmaceutical and biotech clients.",
    "output": "[Cause] intangible assets [Relation] enable [Effect] The legacy Covance business also benefits",
    "gold": "[Cause]  intangible assets [Relation] enable [Effect] The legacy Covance business also benefits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have lowered our fair value estimate to $101 per share from $110, due to our lower near-term revenue forecast.",
    "output": "[Cause] our lower near-term revenue forecast [Relation] cause [Effect] We have lowered our fair value estimate to $101 per share from $110",
    "gold": "[Cause] our lower near-term revenue forecast [Relation] cause [Effect] We have lowered our fair value estimate to $101 per share from $110",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect operating leverage to occur as the company continues to gain scale and benefits from additional SG&A operating leverage as go-to-market partnerships expand and have little SG&A costs associated with the revenue stream.",
    "output": "[Cause] go-to-market partnerships expand and have little SG&A costs associated with the revenue stream [Relation] cause [Effect] the company continues to gain scale and benefits from additional SG&A operating leverage",
    "gold": "[Cause] go-to-market partnerships expand and have little SG&A costs associated with the revenue stream [Relation] cause [Effect] the company continues to gain scale and benefits from additional SG&A operating leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect operating leverage to occur as the company continues to gain scale and benefits from additional SG&A operating leverage as go-to-market partnerships expand and have little SG&A costs associated with the revenue stream.",
    "output": "[Cause] the company continues to gain scale and benefits from additional SG&A operating leverage [Relation] cause [Effect] operating leverage to occur",
    "gold": "[Cause] the company continues to gain scale and benefits from additional SG&A operating leverage [Relation] cause [Effect] operating leverage to occur",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In building automation, we see a cost advantage as well, as suppliers will bid for the initial installation, but the margins are largely made on the longer-term maintenance and replacement products.",
    "output": "[Cause] suppliers will bid for the initial installation [Relation] cause [Effect] a cost advantage",
    "gold": "[Cause] the longer-term maintenance and replacement products [Relation] cause [Effect] the margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In building automation, we see a cost advantage as well, as suppliers will bid for the initial installation, but the margins are largely made on the longer-term maintenance and replacement products.",
    "output": "[Cause] suppliers will bid for the initial installation [Relation] cause [Effect] a cost advantage",
    "gold": "[Cause] suppliers will bid for the initial installation [Relation] cause [Effect]  a cost advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company has deepened this level of engagement by offering tool loans, oil and battery recycling, how-to videos, and simple diagnostics at its stores, gratis.",
    "output": "[Cause] offering tool loans, oil and battery recycling, how-to videos, and simple diagnostics at its stores, gratis [Relation] enable [Effect] The company has deepened this level of engagement",
    "gold": "[Cause] offering tool loans, oil and battery recycling, how-to videos, and simple diagnostics at its stores, gratis [Relation] cause [Effect] The company has deepened this level of engagement",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Delta is the highest-quality legacy carrier because it has been able to attract high-yielding business travelers through its product segmentation and credit card partnerships, primarily with American Express.",
    "output": "[Cause] it has been able to attract high-yielding business travelers through its product segmentation and credit card partnerships, primarily with American Express [Relation] cause [Effect] Delta is the highest-quality legacy carrier",
    "gold": "[Cause] it has been able to attract high-yielding business travelers through its product segmentation and credit card partnerships, primarily with American Express [Relation] cause [Effect] Delta is the highest-quality legacy carrier",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Delta is the highest-quality legacy carrier because it has been able to attract high-yielding business travelers through its product segmentation and credit card partnerships, primarily with American Express.",
    "output": "[Cause] it has been able to attract high-yielding business travelers through its product segmentation and credit card partnerships, primarily with American Express [Relation] cause [Effect] Delta is the highest-quality legacy carrier",
    "gold": "[Cause] its product segmentation and credit card partnerships, primarily with American Express [Relation] enable [Effect] attract high-yielding business travelers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our cost/income ratio, as we calculate it, including remediation and below-the-line items, drops from 69% in 2019 to 53% in the medium term as below-the-line items reduce materially and Lloyds hits its GBP 7.6 billion operating cost target this year.",
    "output": "[Cause] below-the-line items reduce materially and Lloyds hits its GBP 7.6 billion operating cost target this year [Relation] cause [Effect] Our cost/income ratio, as we calculate it, including remediation and below-the-line items, drops from 69% in 2019 to 53% in the medium term",
    "gold": "[Cause] below-the-line items reduce materially and Lloyds hits its GBP 7.6 billion operating cost target this year [Relation] cause [Effect] Our cost/income ratio, as we calculate it, including remediation and below-the-line items, drops from 69% in 2019 to 53% in the medium term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the services business will be able to regain profitability faster than Boeing as a whole because aftermarket revenue increases directly with flights, but that global retirements will slow the recovery of this segment over the medium term.",
    "output": "[Cause] aftermarket revenue increases directly with flights [Relation] cause [Effect] the services business will be able to regain profitability faster than Boeing as a whole",
    "gold": "[Cause] aftermarket revenue increases directly with flights [Relation] cause [Effect] the services business will be able to regain profitability faster than Boeing as a whole",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the services business will be able to regain profitability faster than Boeing as a whole because aftermarket revenue increases directly with flights, but that global retirements will slow the recovery of this segment over the medium term.",
    "output": "[Cause] global retirements [Relation] prevent [Effect] the recovery of this segment over the medium term",
    "gold": "[Cause] global retirements [Relation] prevent [Effect] the recovery of this segment over the medium term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Twilio recently acquired Segment, a San Francisco-based cloud infrastructure firm that takes customer engagement one step further and helps businesses leverage data to create comprehensive customer profiles and improve engagement.",
    "output": "[Cause] Twilio recently acquired Segment [Relation] enable [Effect] businesses leverage data to create comprehensive customer profiles and improve engagement",
    "gold": "[Cause] takes customer engagement one step further [Relation] enable [Effect] businesses leverage data to create comprehensive customer profiles and improve engagement",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The coronavirus pandemic is causing significant disruption for Post's food-service business (24% of sales) and is also affecting BellRing Brands (17% of revenue), as 25% of these nutritional products are consumed at gyms and other away-from-home venues.",
    "output": "[Cause] 25% of these nutritional products are consumed at gyms and other away-from-home venues [Relation] cause [Effect] significant disruption for Post's food-service business (24% of sales) and is also affecting BellRing Brands (17% of revenue)",
    "gold": "[Cause] The coronavirus pandemic [Relation] prevent [Effect]  BellRing Brands",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This is especially the case in XPO's LTL trucking operations because excess capacity has historically driven carriers across the industry to slash rates in an attempt to salvage asset utilization.",
    "output": "[Cause] excess capacity [Relation] cause [Effect] carriers across the industry to slash rates in an attempt to salvage asset utilization",
    "gold": "[Cause] excess capacity has historically driven carriers across the industry to slash rates in an attempt to salvage asset utilization [Relation] cause [Effect] the case in XPO's LTL trucking operations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Online multiplayer games or game modes lead users to develop social networks thus encouraging player loyalty via either informal friendship networks or actual teams/clans.",
    "output": "[Cause] Online multiplayer games or game modes [Relation] cause [Effect] lead users to develop social networks",
    "gold": "[Cause] Online multiplayer games or game modes [Relation] cause [Effect] lead users to develop social networks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Online multiplayer games or game modes lead users to develop social networks thus encouraging player loyalty via either informal friendship networks or actual teams/clans.",
    "output": "[Cause] Online multiplayer games or game modes [Relation] cause [Effect] lead users to develop social networks",
    "gold": "[Cause] lead users to develop social networks [Relation] cause [Effect] encouraging player loyalty via either informal friendship networks or actual teams/clans",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Cummins' strong brand reputation is crucial to its sales in these markets as customers demand extraordinary reliability in emergency situations.",
    "output": "[Cause] customers demand extraordinary reliability in emergency situations [Relation] cause [Effect] Cummins' strong brand reputation is crucial to its sales in these markets",
    "gold": "[Cause] customers demand extraordinary reliability in emergency situations [Relation] cause [Effect] Cummins' strong brand reputation is crucial to its sales in these markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "TI will most likely struggle to find such cheap equipment going forward, so future capacity expansion may come with relatively higher costs and some risk that TI will be unable to fill these factories.",
    "output": "[Cause] TI will most likely struggle to find such cheap equipment going forward [Relation] cause [Effect] future capacity expansion may come with relatively higher costs and some risk that TI will be unable to fill these factories",
    "gold": "[Cause] future capacity expansion [Relation] cause [Effect]  relatively higher costs and some risk that TI will be unable to fill these factories",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company is exposed to the cycle, but diversification of the divisions means that the mix of revenue is not all geared to the early or late part of the cycle, smoothing out some of the would-be volatility.",
    "output": "[Cause] diversification of the divisions [Relation] cause [Effect] the mix of revenue is not all geared to the early or late part of the cycle",
    "gold": "[Cause] diversification of the divisions [Relation] enable [Effect] the mix of revenue is not all geared to the early or late part of the cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company is exposed to the cycle, but diversification of the divisions means that the mix of revenue is not all geared to the early or late part of the cycle, smoothing out some of the would-be volatility.",
    "output": "[Cause] diversification of the divisions [Relation] cause [Effect] the mix of revenue is not all geared to the early or late part of the cycle",
    "gold": "[Cause] diversification of the divisions [Relation] cause [Effect] smoothing out some of the would-be volatility",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, a software glitch prevented it from reporting money-laundering activities for an extended period, increasing the likelihood of further investigations in the future.",
    "output": "[Cause] a software glitch prevented it from reporting money-laundering activities for an extended period [Relation] cause [Effect] increasing the likelihood of further investigations in the future",
    "gold": "[Cause] a software glitch [Relation] prevent [Effect] reporting money-laundering activities for an extended period",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, a software glitch prevented it from reporting money-laundering activities for an extended period, increasing the likelihood of further investigations in the future.",
    "output": "[Cause] a software glitch prevented it from reporting money-laundering activities for an extended period [Relation] cause [Effect] increasing the likelihood of further investigations in the future",
    "gold": "[Cause] a software glitch prevented it from reporting money-laundering activities for an extended period [Relation] cause [Effect] increasing the likelihood of further investigations in the future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Heineken's strategies for premiumization, expanding adjacent categories, product innovation, and vertical integration make it a solid investment opportunity at the appropriate margin of safety, in our view.",
    "output": "[Cause] Heineken's strategies for premiumization, expanding adjacent categories, product innovation, and vertical integration [Relation] enable [Effect] it a solid investment opportunity at the appropriate margin of safety",
    "gold": "[Cause] Heineken's strategies for premiumization, expanding adjacent categories, product innovation, and vertical integration [Relation] enable [Effect] a solid investment opportunity at the appropriate margin of safety, in our view",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, Robodrill sales have been increasing amid the coronavirus pandemic as demand for PCs and tablets rose from people staying home and working remotely.",
    "output": "[Cause] demand for PCs and tablets rose from people staying home and working remotely [Relation] cause [Effect] Robodrill sales have been increasing amid the coronavirus pandemic",
    "gold": "[Cause]  people staying home and working remotely [Relation] cause [Effect] demand for PCs and tablets rose",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because TE's engineers work in tandem with the customer's engineering team--often physically moving into their offices--there would be an immense amount of redesign and retraining on behalf of a supplier or OEM to learn and integrate the intricacies of a competitor's proprietary technology.",
    "output": "[Cause] TE's engineers work in tandem with the customer's engineering team--often physically moving into their offices [Relation] cause [Effect] there would be an immense amount of redesign and retraining on behalf of a supplier or OEM to learn and integrate the intricacies of a competitor's proprietary technology",
    "gold": "[Cause] TE's engineers work in tandem with the customer's engineering team--often physically moving into their offices [Relation] cause [Effect] there would be an immense amount of redesign and retraining on behalf of a supplier or OEM to learn and integrate the intricacies of a competitor's proprietary technology",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, in recent years, the repositioning and deployment of ships to faster-growing and under-represented regions like Asia-Pacific had helped balance the supply in high-capacity regions like the Caribbean and Mediterranean, aiding pricing tactics.",
    "output": "[Cause] the repositioning and deployment of ships to faster-growing and under-represented regions like Asia-Pacific [Relation] enable [Effect] helped balance the supply in high-capacity regions like the Caribbean and Mediterranean, aiding pricing tactics",
    "gold": "[Cause] the repositioning and deployment of ships to faster-growing and under-represented regions like Asia-Pacific [Relation] enable [Effect] helped balance the supply in high-capacity regions like the Caribbean and Mediterranean, aiding pricing tactics",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As incomes rise and motorists' dependence on their cars and trucks grows, we anticipate Valvoline should benefit as its higher-quality lineup takes share from small local players.",
    "output": "[Cause] incomes rise and motorists' dependence on their cars and trucks grows [Relation] cause [Effect] we anticipate Valvoline should benefit as its higher-quality lineup takes share from small local players",
    "gold": "[Cause] its higher-quality lineup takes share from small local players [Relation] cause [Effect]  Valvoline should benefit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe Marvell will achieve an 18% top-line CAGR over the next five years as HDD declines and SSD controller growth offset each other to low-single-digit growth and the firm's networking segment grows in the low teens.",
    "output": "[Cause] HDD declines and SSD controller growth offset each other to low-single-digit growth and the firm's networking segment grows in the low teens [Relation] cause [Effect] Marvell will achieve an 18% top-line CAGR over the next five years",
    "gold": "[Cause] HDD declines and SSD controller growth offset each other to low-single-digit growth and the firm's networking segment grows in the low teens [Relation] cause [Effect] Marvell will achieve an 18% top-line CAGR over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since Arista optimizes its EOS software with its merchant silicon-based hardware together, customers that debate designing their own networking infrastructure equipment may find the best network solution is mostly developed but needs some adjustments.",
    "output": "[Cause] Arista optimizes its EOS software with its merchant silicon-based hardware together [Relation] cause [Effect] customers that debate designing their own networking infrastructure equipment may find the best network solution is mostly developed but needs some adjustments",
    "gold": "[Cause] Arista optimizes its EOS software with its merchant silicon-based hardware together [Relation] cause [Effect]  customers that debate designing their own networking infrastructure equipment may find the best network solution is mostly developed but needs some adjustments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we believe Capital One is adequately capitalized to ride out the storm, and the large waves of government stimulus are also helping sustain consumers, more so than headline unemployment numbers alone would suggest.",
    "output": "[Cause] the large waves of government stimulus [Relation] enable [Effect] sustain consumers",
    "gold": "[Cause]  helping sustain consumers [Relation] enable [Effect] headline unemployment numbers alone would suggest",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Beyond Meat was founded in 2009 by Ethan Brown, who thought since the primary components of meat (amino acids, lipids, trace minerals, vitamins, and water) are also readily available in plants, the architecture of meat could be replicated with plant-based materials.",
    "output": "[Cause] the primary components of meat (amino acids, lipids, trace minerals, vitamins, and water) are also readily available in plants [Relation] cause [Effect] the architecture of meat could be replicated with plant-based materials",
    "gold": "[Cause] the primary components of meat (amino acids, lipids, trace minerals, vitamins, and water) are also readily available in plants [Relation] enable [Effect] the architecture of meat could be replicated with plant-based materials",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the near term, we expect margins to remain weak, albeit volatile, as the market adjusts to the impact on product demand from the coronavirus pandemic.",
    "output": "[Cause] the market adjusts to the impact on product demand from the coronavirus pandemic [Relation] cause [Effect] margins to remain weak, albeit volatile",
    "gold": "[Cause] the market adjusts to the impact on product demand from the coronavirus pandemic [Relation] cause [Effect] margins to remain weak, albeit volatile",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Heavy planting in the 1990s matched with limited harvesting following the Great Recession has led to significant oversupply in softwood timber that will take decades to rebalance.",
    "output": "[Cause] Heavy planting in the 1990s matched with limited harvesting following the Great Recession [Relation] cause [Effect] significant oversupply in softwood timber that will take decades to rebalance",
    "gold": "[Cause] Heavy planting in the 1990s matched with limited harvesting following the Great Recession [Relation] cause [Effect]  significant oversupply in softwood timber that will take decades to rebalance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The bank regularly reported returns on equity that exceeded 17% before 2007, largely because of a strong line of fee-income businesses.",
    "output": "[Cause] a strong line of fee-income businesses [Relation] cause [Effect] The bank regularly reported returns on equity that exceeded 17% before 2007",
    "gold": "[Cause] a strong line of fee-income businesses [Relation] cause [Effect] The bank regularly reported returns on equity that exceeded 17% before 2007",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's recent restructuring efforts and ongoing divestitures should support an improving product mix that will provide modest incremental benefits.",
    "output": "[Cause] The company's recent restructuring efforts and ongoing divestitures [Relation] enable [Effect] support an improving product mix",
    "gold": "[Cause] The company's recent restructuring efforts and ongoing divestitures [Relation] enable [Effect] support an improving product mix",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's recent restructuring efforts and ongoing divestitures should support an improving product mix that will provide modest incremental benefits.",
    "output": "[Cause] The company's recent restructuring efforts and ongoing divestitures [Relation] enable [Effect] support an improving product mix",
    "gold": "[Cause] support an improving product mix [Relation] enable [Effect] provide modest incremental benefits",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The fact that Cott's former businesses were mostly built through M&A could further exacerbate this reality, as these legacy platforms and protocols could already be quite disjointed.",
    "output": "[Cause] Cott's former businesses were mostly built through M&A [Relation] cause [Effect] further exacerbate this reality",
    "gold": "[Cause]  these legacy platforms and protocols could already be quite disjointed [Relation] cause [Effect]  further exacerbate this reality",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The fact that Cott's former businesses were mostly built through M&A could further exacerbate this reality, as these legacy platforms and protocols could already be quite disjointed.",
    "output": "[Cause] these legacy platforms and protocols could already be quite disjointed [Relation] cause [Effect] further exacerbate this reality",
    "gold": "[Cause] The fact that Cott's former businesses were mostly built through M&A [Relation] enable [Effect]  further exacerbate this reality",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The strength of its brand and extensive dealer network has solidified the company as one of the top players in agricultural equipment.",
    "output": "[Cause] The strength of its brand and extensive dealer network [Relation] enable [Effect] solidified the company as one of the top players in agricultural equipment",
    "gold": "[Cause] one of the top players in agricultural equipment [Relation] cause [Effect] The strength of its brand and extensive dealer network has solidified the company",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect EDU's profit to grow on the back of solid revenues growth, and improving margins thanks to additional revenue from an increase in student enrolments in existing schools and new schools, tuition fee hikes, better utilization and cost structure improvements at its new schools.",
    "output": "[Cause] solid revenues growth [Relation] cause [Effect] EDU's profit to grow",
    "gold": "[Cause] additional revenue from an increase in student enrolments in existing schools and new schools, tuition fee hikes, better utilization and cost structure improvements at its new schools [Relation] cause [Effect] EDU's profit to grow on the back of solid revenues growth, and improving margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect EDU's profit to grow on the back of solid revenues growth, and improving margins thanks to additional revenue from an increase in student enrolments in existing schools and new schools, tuition fee hikes, better utilization and cost structure improvements at its new schools.",
    "output": "[Cause] additional revenue from an increase in student enrolments in existing schools and new schools, tuition fee hikes, better utilization and cost structure improvements at its new schools [Relation] enable [Effect] improving margins",
    "gold": "[Cause] an increase in student enrolments in existing schools and new schools [Relation] enable [Effect] additional revenue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As it relates to TCCC, to the extent that economic value created along the supply chain is conceptually finite, we believe it will disproportionately accrue to the trademark owner longer term.",
    "output": "[Cause] economic value created along the supply chain is conceptually finite [Relation] cause [Effect] it will disproportionately accrue to the trademark owner longer term",
    "gold": "[Cause] economic value created along the supply chain is conceptually finite [Relation] cause [Effect] it will disproportionately accrue to the trademark owner longer term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The largest database of user behavior data in China, which Baidu's search engine has accumulated over the course of almost two decades, is critical in generating the most relevant results for users, which leads to increased usage and more data, and in turn higher advertising efficiency.",
    "output": "[Cause] The largest database of user behavior data in China [Relation] cause [Effect] increased usage and more data",
    "gold": "[Cause] Baidu's search engine has accumulated over the course of almost two decades [Relation] enable [Effect] The largest database of user behavior data in China",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The largest database of user behavior data in China, which Baidu's search engine has accumulated over the course of almost two decades, is critical in generating the most relevant results for users, which leads to increased usage and more data, and in turn higher advertising efficiency.",
    "output": "[Cause] The largest database of user behavior data in China, which Baidu's search engine has accumulated over the course of almost two decades [Relation] cause [Effect] increased usage and more data, and in turn higher advertising efficiency",
    "gold": "[Cause] The largest database of user behavior data in China [Relation] enable [Effect] is critical in generating the most relevant results for users",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The largest database of user behavior data in China, which Baidu's search engine has accumulated over the course of almost two decades, is critical in generating the most relevant results for users, which leads to increased usage and more data, and in turn higher advertising efficiency.",
    "output": "[Cause] The largest database of user behavior data in China [Relation] cause [Effect] increased usage and more data, and in turn higher advertising efficiency",
    "gold": "[Cause] is critical in generating the most relevant results for users [Relation] enable [Effect] increased usage and more data",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The largest database of user behavior data in China, which Baidu's search engine has accumulated over the course of almost two decades, is critical in generating the most relevant results for users, which leads to increased usage and more data, and in turn higher advertising efficiency.",
    "output": "[Cause] The largest database of user behavior data in China [Relation] cause [Effect] increased usage and more data, and in turn higher advertising efficiency",
    "gold": "[Cause] increased usage and more data [Relation] enable [Effect] higher advertising efficiency",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "CNH Industrial has played an important role in mechanizing crop production and boosting farmers' productivity; which has led to strong brand loyalty among farmers.",
    "output": "[Cause] CNH Industrial has played an important role in mechanizing crop production and boosting farmers' productivity [Relation] cause [Effect] strong brand loyalty among farmers",
    "gold": "[Cause] CNH Industrial has played an important role in mechanizing crop production and boosting farmers' productivity [Relation] cause [Effect]  strong brand loyalty among farmers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate Adidas' growth will slow in North America, where its sales increased more than EUR 2.5 billion between 2014 and 2020 (to EUR 4.8 billion from EUR 2.2 billion) on the strength of its casualwear and fashionable footwear.",
    "output": "[Cause] the strength of its casualwear and fashionable footwear [Relation] cause [Effect] its sales increased more than EUR 2.5 billion between 2014 and 2020",
    "gold": "[Cause] the strength of its casualwear and fashionable footwear [Relation] cause [Effect] its sales increased more than EUR 2.5 billion between 2014 and 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The Swiss business will, however, start to see some benefit from Credit Suisse's decision in fourth-quarter 2019 to pass on negative interest rates to certain clients.",
    "output": "[Cause] Credit Suisse's decision in fourth-quarter 2019 to pass on negative interest rates to certain clients [Relation] enable [Effect] The Swiss business will, however, start to see some benefit",
    "gold": "[Cause] Credit Suisse's decision in fourth-quarter 2019 to pass on negative interest rates to certain clients [Relation] cause [Effect] The Swiss business will, however, start to see some benefit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because the owners and the clients of these banks are largely the same people, the profit motive for the mutually owned banks is not as pronounced as it is for BNP or a traditionally listed bank.",
    "output": "[Cause] the owners and the clients of these banks are largely the same people [Relation] cause [Effect] the profit motive for the mutually owned banks is not as pronounced as it is for BNP or a traditionally listed bank",
    "gold": "[Cause] the owners and the clients of these banks are largely the same people [Relation] cause [Effect] the profit motive for the mutually owned banks is not as pronounced as it is for BNP or a traditionally listed bank",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Anglo to generate returns on capital lower than our cost of capital assumption as prices for investment-oriented commodities decline as China's economy transitions from being investment-led to consumption-led.",
    "output": "[Cause] prices for investment-oriented commodities decline [Relation] cause [Effect] Anglo to generate returns on capital lower than our cost of capital assumption",
    "gold": "[Cause] China's economy transitions from being investment-led to consumption-led [Relation] cause [Effect] prices for investment-oriented commodities decline",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect Anglo to generate returns on capital lower than our cost of capital assumption as prices for investment-oriented commodities decline as China's economy transitions from being investment-led to consumption-led.",
    "output": "[Cause] prices for investment-oriented commodities decline [Relation] cause [Effect] Anglo to generate returns on capital lower than our cost of capital assumption",
    "gold": "[Cause] prices for investment-oriented commodities decline [Relation] cause [Effect] Anglo to generate returns on capital lower than our cost of capital assumption",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To earn capital, projects must earn returns at BP's recently revised price deck ($55/bbl from $75/bbl) along with an assumed carbon price for operational emissions and have a payback of less 10 years for oil projects or 15 years for gas.",
    "output": "[Cause] projects must earn returns at BP's recently revised price deck ($55/bbl from $75/bbl) along with an assumed carbon price for operational emissions [Relation] cause [Effect] earn capital",
    "gold": "[Cause] projects must earn returns at BP's recently revised price deck ($55/bbl from $75/bbl) along with an assumed carbon price for operational emissions [Relation] enable [Effect]  earn capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Persistently low oil and gas prices would hurt cash flow and would probably force ConocoPhillips to reduce its capital spending plans or impair reserves.",
    "output": "[Cause] Persistently low oil and gas prices [Relation] cause [Effect] hurt cash flow and would probably force ConocoPhillips to reduce its capital spending plans or impair reserves",
    "gold": "[Cause] Persistently low oil and gas prices [Relation] cause [Effect]  hurt cash flow and would probably force ConocoPhillips to reduce its capital spending plans or impair reserves",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The bank has consistently operated with one of the best efficiency ratios in Canada, partially through superior operational execution, and partially due to the highest noninterest income proportion among the Canadian banks.",
    "output": "[Cause] superior operational execution [Relation] enable [Effect] The bank has consistently operated with one of the best efficiency ratios in Canada",
    "gold": "[Cause] superior operational execution [Relation] cause [Effect] The bank has consistently operated with one of the best efficiency ratios in Canada",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The bank has consistently operated with one of the best efficiency ratios in Canada, partially through superior operational execution, and partially due to the highest noninterest income proportion among the Canadian banks.",
    "output": "[Cause] superior operational execution [Relation] cause [Effect] The bank has consistently operated with one of the best efficiency ratios in Canada",
    "gold": "[Cause] the highest noninterest income proportion among the Canadian banks [Relation] cause [Effect] The bank has consistently operated with one of the best efficiency ratios in Canada",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect a 6% compound annual growth rate for net earned premiums over the projection period, as we expect pricing increases and a firmer market to result in solid growth over time.",
    "output": "[Cause] pricing increases and a firmer market [Relation] cause [Effect] solid growth over time",
    "gold": "[Cause] pricing increases and a firmer market [Relation] cause [Effect] solid growth over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect a 6% compound annual growth rate for net earned premiums over the projection period, as we expect pricing increases and a firmer market to result in solid growth over time.",
    "output": "[Cause] pricing increases and a firmer market [Relation] cause [Effect] solid growth over time",
    "gold": "[Cause] pricing increases and a firmer market [Relation] cause [Effect] a 6% compound annual growth rate for net earned premiums over the projection period",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Morgan Stanley's earnings in 2020 held up better than expected, as global macroeconomic uncertainty led to high trading volumes and as companies used the capital raising services of investment banks to bolster liquidity.",
    "output": "[Cause] global macroeconomic uncertainty [Relation] cause [Effect] high trading volumes",
    "gold": "[Cause] global macroeconomic uncertainty led to high trading volumes [Relation] cause [Effect] Morgan Stanley's earnings in 2020 held up better than expected",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Morgan Stanley's earnings in 2020 held up better than expected, as global macroeconomic uncertainty led to high trading volumes and as companies used the capital raising services of investment banks to bolster liquidity.",
    "output": "[Cause] companies used the capital raising services of investment banks [Relation] enable [Effect] bolster liquidity",
    "gold": "[Cause] companies used the capital raising services of investment banks [Relation] enable [Effect] bolster liquidity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast that Macy's will report a large loss and negative ROIC in 2020 as a result of the pandemic, and we do not expect it will generate economic profit in the next decade.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] Macy's will report a large loss and negative ROIC in 2020",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] Macy's will report a large loss and negative ROIC in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Aside from a down year in 2020 amid a coronavirus-fueled economic contraction, we have a positive outlook for Trane's growth prospects, driven by what we see as long-term global trends in urbanization, sustainability, and healthful building solutions.",
    "output": "[Cause] long-term global trends in urbanization, sustainability, and healthful building solutions [Relation] cause [Effect] we have a positive outlook for Trane's growth prospects",
    "gold": "[Cause] [Relation] enable [Effect] Aside from a down year in 2020 amid a coronavirus-fueled economic contraction, we have a positive outlook for Trane's growth prospects | driven by what we see as long-term global trends in urbanization, sustainability, and healthful building solutions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect that going forward ARPU will only experience limited growth, due to higher free cloud storage capacity offerings from competitors.",
    "output": "[Cause] higher free cloud storage capacity offerings from competitors [Relation] cause [Effect] going forward ARPU will only experience limited growth",
    "gold": "[Cause] higher free cloud storage capacity offerings from competitors [Relation] cause [Effect] going forward ARPU will only experience limited growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This consistent care quality influences doctor referrals, and DaVita recently estimated that it has referral relationships with about 70% of the practicing nephrologists in the U.S. These quality ratings also influence penalties that CMS imposes on underperforming facilities, and DaVita and Fresenius both avoid these penalties at a higher rate than other clinics based on the quality of their service offerings.",
    "output": "[Cause] This consistent care quality influences doctor referrals, and DaVita recently estimated that it has referral relationships with about 70% of the practicing nephrologists in the U.S [Relation] cause [Effect] influence penalties that CMS imposes on underperforming facilities, and DaVita and Fresenius both avoid these penalties at a higher rate than other clinics based on the quality of their service offerings",
    "gold": "[Cause] This consistent care quality influences doctor referrals, and DaVita recently estimated that it has referral relationships with about 70% of the practicing nephrologists in the U.S [Relation] cause [Effect]  influence penalties that CMS imposes on underperforming facilities, and DaVita and Fresenius both avoid these penalties at a higher rate than other clinics based on the quality of their service offerings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We estimate that roughly half of Delta's operating costs are fixed in the medium term and expect negative operating leverage to lead to near-term losses across the industry.",
    "output": "[Cause] negative operating leverage [Relation] cause [Effect] near-term losses across the industry",
    "gold": "[Cause] negative operating leverage [Relation] cause [Effect] near-term losses across the industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since the cost of any disruptions or unscheduled downtime could far outweigh potential cost savings from choosing a lower bid, customers are more likely to weigh an E&amp;C firm's reputation and track record when evaluating bids for such projects.",
    "output": "[Cause] the cost of any disruptions or unscheduled downtime could far outweigh potential cost savings from choosing a lower bid [Relation] cause [Effect] customers are more likely to weigh an E&amp;C firm's reputation and track record when evaluating bids for such projects",
    "gold": "[Cause]  the cost of any disruptions or unscheduled downtime could far outweigh potential cost savings from choosing a lower bid [Relation] cause [Effect]  customers are more likely to weigh an E&amp;C firm's reputation and track record when evaluating bids for such projects",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's broad scope allows it to leverage its distribution architecture, spreading such expenditures over a large sales base and reinforcing its low-cost standing.",
    "output": "[Cause] The firm's broad scope [Relation] enable [Effect] it to leverage its distribution architecture, spreading such expenditures over a large sales base and reinforcing its low-cost standing",
    "gold": "[Cause] The firm's broad scope [Relation] enable [Effect]  it to leverage its distribution architecture, spreading such expenditures over a large sales base and reinforcing its low-cost standing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, this decreasing gross margin in cloud services and license support should be offset by an increase in gross margin in Oracle's hardware business, as it sheds more commodity hardware, and a decreasing mix of lower-margin services revenue.",
    "output": "[Cause] it sheds more commodity hardware, and a decreasing mix of lower-margin services revenue [Relation] cause [Effect] this decreasing gross margin in cloud services and license support should be offset by an increase in gross margin in Oracle's hardware business",
    "gold": "[Cause]  it sheds more commodity hardware, and a decreasing mix of lower-margin services revenue [Relation] enable [Effect] this decreasing gross margin in cloud services and license support should be offset by an increase in gross margin in Oracle's hardware business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, this decreasing gross margin in cloud services and license support should be offset by an increase in gross margin in Oracle's hardware business, as it sheds more commodity hardware, and a decreasing mix of lower-margin services revenue.",
    "output": "[Cause] it sheds more commodity hardware, and a decreasing mix of lower-margin services revenue [Relation] cause [Effect] this decreasing gross margin in cloud services and license support should be offset by an increase in gross margin in Oracle's hardware business",
    "gold": "[Cause] an increase in gross margin in Oracle's hardware business [Relation] cause [Effect] this decreasing gross margin in cloud services and license support should be offset",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, our concern remains somewhat tempered, as past viral events have largely been transitory as the cruise companies have attempted to hold pricing firm when possible (at the expense of occupancy).",
    "output": "[Cause] past viral events have largely been transitory [Relation] cause [Effect] our concern remains somewhat tempered",
    "gold": "[Cause] past viral events have largely been transitory [Relation] cause [Effect] our concern remains somewhat tempered",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, our concern remains somewhat tempered, as past viral events have largely been transitory as the cruise companies have attempted to hold pricing firm when possible (at the expense of occupancy).",
    "output": "[Cause] the cruise companies have attempted to hold pricing firm when possible [Relation] cause [Effect] past viral events have largely been transitory",
    "gold": "[Cause] the cruise companies have attempted to hold pricing firm when possible [Relation] cause [Effect] past viral events have largely been transitory",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Simon's revenue is somewhat protected by long-term leases, we see retailer bankruptcies causing a significant drop in occupancy and Simon has been forced to offer rent concessions to keep others afloat.",
    "output": "[Cause] retailer bankruptcies [Relation] cause [Effect] a significant drop in occupancy",
    "gold": "[Cause] retailer bankruptcies [Relation] cause [Effect] a significant drop in occupancy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Simon's revenue is somewhat protected by long-term leases, we see retailer bankruptcies causing a significant drop in occupancy and Simon has been forced to offer rent concessions to keep others afloat.",
    "output": "[Cause] retailer bankruptcies [Relation] cause [Effect] a significant drop in occupancy",
    "gold": "[Cause] retailer bankruptcies causing a significant drop in occupancy [Relation] cause [Effect] Simon has been forced to offer rent concessions to keep others afloat",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The relatively modest growth in revenue per user reflects our view that other platforms, like Facebook and Google, will remain more attractive to smaller businesses looking to place direct-response ads.",
    "output": "[Cause] The relatively modest growth in revenue per user [Relation] enable [Effect] other platforms, like Facebook and Google, will remain more attractive to smaller businesses looking to place direct-response ads",
    "gold": "[Cause]  Facebook and Google, will remain more attractive to smaller businesses looking to place direct-response ads [Relation] enable [Effect] The relatively modest growth in revenue per user",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Costco also handles a significant amount of customer data (through its memberships, credit card offerings, and individual transactions), and a breach could expose it to financial and reputational risk.",
    "output": "[Cause] a breach [Relation] cause [Effect] expose it to financial and reputational risk",
    "gold": "[Cause] Costco also handles a significant amount of customer data [Relation] cause [Effect] a breach could expose it to financial and reputational risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the intermodal value proposition remains strong thanks to secular constraints on over-the-road truckload capacity, truck-to-rail conversion activity can decline in the short run when diesel fuel prices plummet rapidly.",
    "output": "[Cause] secular constraints on over-the-road truckload capacity [Relation] cause [Effect] the intermodal value proposition remains strong",
    "gold": "[Cause] secular constraints on over-the-road truckload capacity [Relation] enable [Effect] the intermodal value proposition remains strong",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, while cost leverage and smaller package sizes have largely allowed Dollar Tree to maintain its $1 price concept, a large, sustained spike in inflation or tariffs could force its prices higher.",
    "output": "[Cause] cost leverage and smaller package sizes [Relation] enable [Effect] Dollar Tree to maintain its $1 price concept",
    "gold": "[Cause] cost leverage and smaller package sizes [Relation] enable [Effect] Dollar Tree to maintain its $1 price concept",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, while cost leverage and smaller package sizes have largely allowed Dollar Tree to maintain its $1 price concept, a large, sustained spike in inflation or tariffs could force its prices higher.",
    "output": "[Cause] a large, sustained spike in inflation or tariffs [Relation] cause [Effect] its prices higher",
    "gold": "[Cause] a large, sustained spike in inflation or tariffs [Relation] cause [Effect] its prices higher",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Analog Devices earns more than half of its chip sales from the industrial and automotive end markets, so weakness in these sectors could spell trouble for the firm.",
    "output": "[Cause] Analog Devices earns more than half of its chip sales from the industrial and automotive end markets [Relation] cause [Effect] weakness in these sectors could spell trouble for the firm",
    "gold": "[Cause] Analog Devices earns more than half of its chip sales from the industrial and automotive end markets [Relation] cause [Effect] weakness in these sectors could spell trouble for the firm",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The majors view these new sources like artist rights and licensing as growth drivers to offset the ongoing decline in physical media.",
    "output": "[Cause] The majors view these new sources like artist rights and licensing as growth drivers [Relation] prevent [Effect] the ongoing decline in physical media",
    "gold": "[Cause] offset the ongoing decline in physical media [Relation] cause [Effect] The majors view these new sources like artist rights and licensing as growth drivers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Consumers prefer to make their shopping trips efficient by being able to visit their favorite stores and possibly compare prices in a single trip, making sought-after retailers next to one another a desirable location for shoppers.",
    "output": "[Cause] Consumers prefer to make their shopping trips efficient by being able to visit their favorite stores and possibly compare prices in a single trip [Relation] enable [Effect] making sought-after retailers next to one another a desirable location for shoppers",
    "gold": "[Cause] Consumers prefer to make their shopping trips efficient by being able to visit their favorite stores and possibly compare prices in a single trip [Relation] cause [Effect]  making sought-after retailers next to one another a desirable location for shoppers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's tenants typically sign multiyear leases, so it may take some time before we see the effects of new construction on returns.",
    "output": "[Cause] The company's tenants typically sign multiyear leases [Relation] cause [Effect] it may take some time before we see the effects of new construction on returns",
    "gold": "[Cause] it may take some time before we see the effects of new construction on returns [Relation] cause [Effect] The company's tenants typically sign multiyear leases",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our model also anticipates SG&A as a percentage of revenue stabilizes around 31% over the next decade, above its 10-year average of 28%, as we think costs may be permanently higher on greater promotional spending.",
    "output": "[Cause] costs may be permanently higher on greater promotional spending [Relation] cause [Effect] Our model also anticipates SG&A as a percentage of revenue stabilizes around 31% over the next decade, above its 10-year average of 28%",
    "gold": "[Cause] SG&A as a percentage of revenue stabilizes around 31% over the next decade, above its 10-year average of 28% [Relation] cause [Effect] costs may be permanently higher on greater promotional spending",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, we think customers will continue to source products from Intel (either directly or via its foundry efforts), primarily to avoid concentration risk with TSMC.",
    "output": "[Cause] avoid concentration risk with TSMC [Relation] cause [Effect] customers will continue to source products from Intel (either directly or via its foundry efforts)",
    "gold": "[Cause]  avoid concentration risk with TSMC [Relation] cause [Effect] customers will continue to source products from Intel (either directly or via its foundry efforts)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company has made a handful of acquisitions since 2011 that have strengthened its product portfolio and competitive positioning and supplemented its growth trajectory.",
    "output": "[Cause] The company has made a handful of acquisitions since 2011 [Relation] enable [Effect] strengthened its product portfolio and competitive positioning and supplemented its growth trajectory",
    "gold": "[Cause] The company has made a handful of acquisitions since 2011 [Relation] cause [Effect] strengthened its product portfolio and competitive positioning and supplemented its growth trajectory",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moving forward, we forecast low-single-digit growth for Myriad's hereditary cancer business, as we believe competition and reimbursement pressures weigh on this business.",
    "output": "[Cause] competition and reimbursement pressures weigh on this business [Relation] cause [Effect] low-single-digit growth for Myriad's hereditary cancer business",
    "gold": "[Cause] competition and reimbursement pressures weigh on this business [Relation] cause [Effect] low-single-digit growth for Myriad's hereditary cancer business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's distribution capabilities allow it to make more frequent inventory replenishment deliveries at local stores, a brisk cadence that only large-scale competitors can match.",
    "output": "[Cause] The firm's distribution capabilities [Relation] enable [Effect] make more frequent inventory replenishment deliveries at local stores",
    "gold": "[Cause] The firm's distribution capabilities [Relation] enable [Effect] make more frequent inventory replenishment deliveries at local stores",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "All in, we think equipment providers such as ASML are uniquely positioned to help customers get the most out of their tool investments, particularly as complexity continues to rise in semiconductor manufacturing.",
    "output": "[Cause] complexity continues to rise in semiconductor manufacturing [Relation] cause [Effect] equipment providers such as ASML are uniquely positioned to help customers get the most out of their tool investments",
    "gold": "[Cause]  equipment providers such as ASML are uniquely positioned [Relation] enable [Effect] help customers get the most out of their tool investments",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Even when a product goes off patent, the company develops new applications for that product that allow premium prices to be maintained.",
    "output": "[Cause] the company develops new applications for that product [Relation] enable [Effect] premium prices to be maintained",
    "gold": "[Cause] a product goes off patent [Relation] enable [Effect] the company develops new applications for that product that allow premium prices to be maintained",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In preclinical informatics, customers remain risk-averse to switching providers since PerkinElmer's Cisbio Bioassays offers the broadest rental reagents portfolio and is the only player on the small molecule side to use its proprietary homogeneous time resolved fluorescence, or HTRF, technology for chemical discovery.",
    "output": "[Cause] PerkinElmer's Cisbio Bioassays offers the broadest rental reagents portfolio and is the only player on the small molecule side to use its proprietary homogeneous time resolved fluorescence, or HTRF, technology for chemical discovery [Relation] cause [Effect] customers remain risk-averse to switching providers",
    "gold": "[Cause] PerkinElmer's Cisbio Bioassays offers the broadest rental reagents portfolio and is the only player on the small molecule side to use its proprietary homogeneous time resolved fluorescence, or HTRF, technology for chemical discovery [Relation] cause [Effect] customers remain risk-averse to switching providers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, Lilly's operating structure allows for cost-cutting after patent losses to reduce the margin pressure from lost high-margin drug sales.",
    "output": "[Cause] Lilly's operating structure allows for cost-cutting after patent losses [Relation] enable [Effect] reduce the margin pressure from lost high-margin drug sales",
    "gold": "[Cause] reduce the margin pressure [Relation] cause [Effect] lost high-margin drug sales",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Along those lines, as a maker of cigarette filters, the company could face a decline in acetate tow profits if governments increase tobacco taxes or global cigarette consumption declines more rapidly.",
    "output": "[Cause] governments increase tobacco taxes or global cigarette consumption declines more rapidly [Relation] cause [Effect] the company could face a decline in acetate tow profits",
    "gold": "[Cause] governments increase tobacco taxes or global cigarette consumption declines more rapidly [Relation] cause [Effect] the company could face a decline in acetate tow profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "TwiML was built with the intention to allow quick application development and deployment, thus reducing time to market (for example, basic commands include &lt; Dial &gt; and &lt; Record &gt;).",
    "output": "[Cause] TwiML was built with the intention to allow quick application development and deployment [Relation] enable [Effect] reducing time to market",
    "gold": "[Cause] TwiML was built with the intention to allow quick application development and deployment [Relation] enable [Effect] reducing time to market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Therefore, although we think MakeMyTrip can find success in its core geography of India, we believe it and other smaller competitors face an uphill battle to compete globally with Airbnb and other larger online travel agency peers.",
    "output": "[Cause] it and other smaller competitors face an uphill battle [Relation] enable [Effect] compete globally with Airbnb and other larger online travel agency peers",
    "gold": "[Cause] compete globally with Airbnb and other larger online travel agency peers [Relation] cause [Effect] it and other smaller competitors face an uphill battle",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our 2020 EBITDA estimate is set at $5.1 billion, reflecting the contributions from new projects coming online but offset by lower related gathering and processing volumes, as well as weaker refinery runs and well curtailments.",
    "output": "[Cause] lower related gathering and processing volumes, as well as weaker refinery runs and well curtailments [Relation] prevent [Effect] the contributions from new projects coming online",
    "gold": "[Cause] lower related gathering and processing volumes, as well as weaker refinery runs and well curtailments [Relation] prevent [Effect] the contributions from new projects coming online",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Pearson's long-term involvement in designing and administering such certifications increases the level of integration with these entities and enhances the potential financial and disruptive cost of changing suppliers in industries in which profit maximisation is not generally the primary goal.",
    "output": "[Cause] Pearson's long-term involvement in designing and administering such certifications [Relation] enable [Effect] increases the level of integration with these entities",
    "gold": "[Cause] Pearson's long-term involvement in designing and administering such certifications [Relation] enable [Effect]  increases the level of integration with these entities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Pearson's long-term involvement in designing and administering such certifications increases the level of integration with these entities and enhances the potential financial and disruptive cost of changing suppliers in industries in which profit maximisation is not generally the primary goal.",
    "output": "[Cause] Pearson's long-term involvement in designing and administering such certifications [Relation] enable [Effect] enhances the potential financial and disruptive cost of changing suppliers in industries in which profit maximisation is not generally the primary goal",
    "gold": "[Cause] Pearson's long-term involvement in designing and administering such certifications [Relation] cause [Effect] enhances the potential financial and disruptive cost of changing suppliers in industries in which profit maximisation is not generally the primary goal",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This advantage enabled Dish to gain scale over the past two decades, a position that gives the firm an advantage when negotiating with content providers.",
    "output": "[Cause] This advantage enabled Dish to gain scale over the past two decades [Relation] enable [Effect] the firm an advantage when negotiating with content providers",
    "gold": "[Cause] a position that gives the firm an advantage when negotiating with content providers [Relation] enable [Effect] Dish to gain scale over the past two decades",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, with Tractor Supply's estimated 10% share of a $110 billion total addressable market (according to the company), we still see a robust opportunity for market share gains and adjacent category expansion (as noted earlier via the pursuit of garden/outdoor revenue).",
    "output": "[Cause] Tractor Supply's estimated 10% share of a $110 billion total addressable market [Relation] cause [Effect] we still see a robust opportunity for market share gains and adjacent category expansion",
    "gold": "[Cause] Tractor Supply's estimated 10% share of a $110 billion total addressable market (according to the company) [Relation] enable [Effect] a robust opportunity for market share gains and adjacent category expansion (as noted earlier via the pursuit of garden/outdoor revenue)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Third, we believe IP lacks the large installed base of some of its other competitors, which leads to a smaller proportion of higher-margin aftermarket sales.",
    "output": "[Cause] IP lacks the large installed base of some of its other competitors [Relation] cause [Effect] a smaller proportion of higher-margin aftermarket sales",
    "gold": "[Cause] IP lacks the large installed base of some of its other competitors [Relation] cause [Effect] a smaller proportion of higher-margin aftermarket sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, as China is a net importer of oil and gas, we think it will be challenging for the three national oil companies to significantly cut exposures rapidly, given their roles in the country's energy security.",
    "output": "[Cause] their roles in the country's energy security [Relation] cause [Effect] it will be challenging for the three national oil companies to significantly cut exposures rapidly",
    "gold": "[Cause]  China is a net importer of oil and gas | their roles in the country's energy security [Relation] cause [Effect] we think it will be challenging for the three national oil companies to significantly cut exposures rapidly",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the elevated risk of Fluor's backlog, the company could experience further cost overruns on its fixed-price contracts, which drives a wide dispersion between our bear-case and bull-case scenarios.",
    "output": "[Cause] the elevated risk of Fluor's backlog [Relation] cause [Effect] the company could experience further cost overruns on its fixed-price contracts",
    "gold": "[Cause] the elevated risk of Fluor's backlog [Relation] cause [Effect]  the company could experience further cost overruns on its fixed-price contracts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, the government is working on regulating the returns for transmission pipeline owners, and we think this will lower the profitability of this segment. As a result, we do not expect the segment as a whole to generate substantial economic profit in the long term.",
    "output": "[Cause] the government is working on regulating the returns for transmission pipeline owners, and we think this will lower the profitability of this segment [Relation] cause [Effect] we do not expect the segment as a whole to generate substantial economic profit in the long term",
    "gold": "[Cause] the government is working on regulating the returns for transmission pipeline owners, and we think this will lower the profitability of this segment [Relation] cause [Effect] we do not expect the segment as a whole to generate substantial economic profit in the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that Ansys is at risk of Cadence Design Systems taking share in the electromagnetic simulation space as Cadence has developed electromagnetic solver, Clarity 3D Solver, which launched in 2019.",
    "output": "[Cause] Cadence has developed electromagnetic solver, Clarity 3D Solver, which launched in 2019 [Relation] cause [Effect] Ansys is at risk of Cadence Design Systems taking share in the electromagnetic simulation space",
    "gold": "[Cause] Cadence has developed electromagnetic solver, Clarity 3D Solver, which launched in 2019 [Relation] cause [Effect] Ansys is at risk of Cadence Design Systems taking share in the electromagnetic simulation space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the government being the firm's owner, competitor, customer, and regulator, it has many objectives that can be at cross purposes.",
    "output": "[Cause] the government being the firm's owner, competitor, customer, and regulator [Relation] cause [Effect] it has many objectives that can be at cross purposes",
    "gold": "[Cause] the government being the firm's owner, competitor, customer, and regulator [Relation] enable [Effect] it has many objectives that can be at cross purposes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Alternatively, downstream competitive advantages stem from access to low-cost crude oil, low operating costs, and the ability to export the refined product.",
    "output": "[Cause] access to low-cost crude oil, low operating costs, and the ability to export the refined product [Relation] enable [Effect] downstream competitive advantages",
    "gold": "[Cause] access to low-cost crude oil, low operating costs, and the ability to export the refined product [Relation] enable [Effect] downstream competitive advantages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Juniper's partnership with Ericsson enables a more complete wireless networks portfolio for service providers, but we believe Ericsson's antenna and software technology aid the sales process.",
    "output": "[Cause] Juniper's partnership with Ericsson [Relation] enable [Effect] a more complete wireless networks portfolio for service providers",
    "gold": "[Cause] Juniper's partnership with Ericsson [Relation] enable [Effect] a more complete wireless networks portfolio for service providers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Juniper's partnership with Ericsson enables a more complete wireless networks portfolio for service providers, but we believe Ericsson's antenna and software technology aid the sales process.",
    "output": "[Cause] Ericsson's antenna and software technology [Relation] enable [Effect] the sales process",
    "gold": "[Cause] Ericsson's antenna and software technology [Relation] enable [Effect] the sales process",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Low switching costs and fierce competition are likely to limit excess profits, as price ultimately becomes the point of differentiation.",
    "output": "[Cause] price ultimately becomes the point of differentiation [Relation] cause [Effect] Low switching costs and fierce competition are likely to limit excess profits",
    "gold": "[Cause] price ultimately becomes the point of differentiation [Relation] cause [Effect] Low switching costs and fierce competition are likely to limit excess profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see a potential risk of industry oversupply increasing if these Chinese chipmakers can catch up to Micron, Samsung, and SK Hynix in NAND and/or DRAM technology, with NAND being more likely of Chinese competition in the coming years, in our view.",
    "output": "[Cause] these Chinese chipmakers can catch up to Micron, Samsung, and SK Hynix in NAND and/or DRAM technology [Relation] cause [Effect] a potential risk of industry oversupply increasing",
    "gold": "[Cause] these Chinese chipmakers can catch up to Micron, Samsung, and SK Hynix in NAND and/or DRAM technology [Relation] cause [Effect] a potential risk of industry oversupply increasing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In recent years, Twilio has increased sales and marketing focus toward large enterprise clients, who tend to be stickier due to the level of disruption caused by the shift toward a new vendor.",
    "output": "[Cause] the level of disruption caused by the shift toward a new vendor [Relation] cause [Effect] Twilio has increased sales and marketing focus toward large enterprise clients, who tend to be stickier",
    "gold": "[Cause] the level of disruption caused by the shift toward a new vendor [Relation] cause [Effect] Twilio has increased sales and marketing focus toward large enterprise clients, who tend to be stickier",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that regulatory standards and the nature of preclinical research push clients to rely more heavily on Charles River's auxiliary services and full-service preclinical trials.",
    "output": "[Cause] regulatory standards and the nature of preclinical research [Relation] cause [Effect] clients to rely more heavily on Charles River's auxiliary services and full-service preclinical trials",
    "gold": "[Cause] regulatory standards and the nature of preclinical research [Relation] cause [Effect] clients to rely more heavily on Charles River's auxiliary services and full-service preclinical trials",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the regulator requires KPN to open its network, Vodafone would set up the wholesale business and compete with KPN in this segment.",
    "output": "[Cause] the regulator requires KPN to open its network [Relation] cause [Effect] Vodafone would set up the wholesale business and compete with KPN in this segment",
    "gold": "[Cause] the regulator requires KPN to open its network [Relation] enable [Effect] Vodafone would set up the wholesale business and compete with KPN in this segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the importance of meeting regulations in this area, automakers loathe changing this critical component midprogram, as it could lead to disruptions during the transition and substantial time to develop and validate the new system.",
    "output": "[Cause] it could lead to disruptions during the transition and substantial time to develop and validate the new system [Relation] cause [Effect] automakers loathe changing this critical component midprogram",
    "gold": "[Cause] it could lead to disruptions during the transition and substantial time to develop and validate the new system [Relation] cause [Effect] automakers loathe changing this critical component midprogram",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Having been principally focused on institutional investors for much of its existence, BlackRock has had to be concerned not only with investment performance, but also with the risks taken to generate those results, as most of its institutional clients come to the table with required levels of performance and volatility in their investment mandates. As such, the company has developed tools--embedded in its Aladdin enterprise system--to assess both security- and portfolio-level risks, which it not only uses internally but also offers to external clients for a fee.",
    "output": "[Cause] Having been principally focused on institutional investors for much of its existence, BlackRock has had to be concerned not only with investment performance, but also with the risks taken to generate those results, as most of its institutional clients come to the table with required levels of performance and volatility in their investment mandates [Relation] cause [Effect] the company has developed tools--embedded in its Aladdin enterprise system--to assess both security- and portfolio-level risks, which it not only uses internally but also offers to external clients for a fee",
    "gold": "[Cause] Having been principally focused on institutional investors for much of its existence, BlackRock has had to be concerned not only with investment performance, but also with the risks taken to generate those results, as most of its institutional clients come to the table with required levels of performance and volatility in their investment mandates [Relation] cause [Effect]  the company has developed tools--embedded in its Aladdin enterprise system--to assess both security- and portfolio-level risks, which it not only uses internally but also offers to external clients for a fee",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "According to management, 55% of customers started with the free offering, which is not the same as a conversion rate but certainly reinforces the power of viral marketing.",
    "output": "[Cause] According to management, 55% of customers started with the free offering [Relation] cause [Effect] reinforces the power of viral marketing",
    "gold": "[Cause] According to management, 55% of customers started with the free offering [Relation] enable [Effect] reinforces the power of viral marketing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, given the ongoing consolidation across the electrical component industry, prices may be driven to unattractive valuations, forcing Amphenol to overpay to extend its runway for sales growth.",
    "output": "[Cause] the ongoing consolidation across the electrical component industry [Relation] cause [Effect] prices may be driven to unattractive valuations",
    "gold": "[Cause] the ongoing consolidation across the electrical component industry [Relation] enable [Effect]  prices may be driven to unattractive valuations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, given the ongoing consolidation across the electrical component industry, prices may be driven to unattractive valuations, forcing Amphenol to overpay to extend its runway for sales growth.",
    "output": "[Cause] prices may be driven to unattractive valuations [Relation] cause [Effect] forcing Amphenol to overpay",
    "gold": "[Cause]  prices may be driven to unattractive valuations [Relation] enable [Effect] forcing Amphenol to overpay",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, given the ongoing consolidation across the electrical component industry, prices may be driven to unattractive valuations, forcing Amphenol to overpay to extend its runway for sales growth.",
    "output": "[Cause] prices may be driven to unattractive valuations [Relation] cause [Effect] forcing Amphenol to overpay",
    "gold": "[Cause]  prices may be driven to unattractive valuations | forcing Amphenol to overpay [Relation] enable [Effect] extend its runway for sales growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nevertheless, over the long term, we think Smith & Nephew's position as a mid-sized competitor leaves it vulnerable as the hospital customer base seeks to consolidate vendors to save costs.",
    "output": "[Cause] the hospital customer base seeks to consolidate vendors to save costs [Relation] cause [Effect] Smith & Nephew's position as a mid-sized competitor leaves it vulnerable",
    "gold": "[Cause] the hospital customer base seeks to consolidate vendors to save costs [Relation] cause [Effect]  Smith & Nephew's position as a mid-sized competitor leaves it vulnerable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nevertheless, over the long term, we think Smith & Nephew's position as a mid-sized competitor leaves it vulnerable as the hospital customer base seeks to consolidate vendors to save costs.",
    "output": "[Cause] the hospital customer base seeks to consolidate vendors to save costs [Relation] cause [Effect] Smith & Nephew's position as a mid-sized competitor leaves it vulnerable",
    "gold": "[Cause] save costs [Relation] cause [Effect]  the hospital customer base seeks to consolidate vendors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nevertheless, over the long term, we think Smith & Nephew's position as a mid-sized competitor leaves it vulnerable as the hospital customer base seeks to consolidate vendors to save costs.",
    "output": "[Cause] the hospital customer base seeks to consolidate vendors to save costs [Relation] cause [Effect] Smith & Nephew's position as a mid-sized competitor leaves it vulnerable",
    "gold": "[Cause]  Smith & Nephew's position as a mid-sized competitor [Relation] cause [Effect]  vulnerable",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Lending, particularly consumer lending, benefits significantly from scale as incremental sales growth can drive higher earnings against fixed costs.",
    "output": "[Cause] incremental sales growth can drive higher earnings against fixed costs [Relation] cause [Effect] Lending, particularly consumer lending, benefits significantly from scale",
    "gold": "[Cause] incremental sales growth can drive higher earnings against fixed costs [Relation] cause [Effect] Lending, particularly consumer lending, benefits significantly from scale",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, the firm's advertising business is already large and continues to scale, thus offering an attractive option for marketers looking to access a vast audience with a variety of proprietary datapoints about those very consumers.",
    "output": "[Cause] the firm's advertising business is already large and continues to scale [Relation] enable [Effect] offering an attractive option for marketers looking to access a vast audience with a variety of proprietary datapoints about those very consumers",
    "gold": "[Cause] the firm's advertising business is already large and continues to scale [Relation] cause [Effect] offering an attractive option for marketers looking to access a vast audience with a variety of proprietary datapoints about those very consumers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The growth of banking deposits and net interest income has been and will remain one of the key pillars of Morgan Stanley's growth story.",
    "output": "[Cause] The growth of banking deposits and net interest income [Relation] enable [Effect] Morgan Stanley's growth story",
    "gold": "[Cause] The growth of banking deposits and net interest income [Relation] enable [Effect] Morgan Stanley's growth story",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the supply side, overcapacity problems in the steel industry may persist longer than we expect, should China continue to add steel capacity, and if the consolidation of the Chinese steel industry goes more slowly than we anticipate.",
    "output": "[Cause] China continue to add steel capacity [Relation] cause [Effect] Overcapacity problems in the steel industry may persist longer than we anticipate",
    "gold": "[Cause]  overcapacity problems in the steel industry may persist longer than we expect, should China continue to add steel capacity [Relation] cause [Effect] the consolidation of the Chinese steel industry goes more slowly than we anticipate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We're confident that Amgen will be capable of defending its bottom line through a key period of weakness for legacy products, as cost-cutting and manufacturing innovation help to trim operating costs.",
    "output": "[Cause] cost-cutting and manufacturing innovation help to trim operating costs [Relation] cause [Effect] Amgen will be capable of defending its bottom line through a key period of weakness for legacy products",
    "gold": "[Cause] cost-cutting and manufacturing innovation help to trim operating costs [Relation] cause [Effect] Amgen will be capable of defending its bottom line through a key period of weakness for legacy products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, like other large scale branded hotel chains, its hotels operate at all hours and days of the year, using energy and supplies, which if not properly managed could disinterest some visitation.",
    "output": "[Cause] not properly managed [Relation] cause [Effect] disinterest some visitation",
    "gold": "[Cause]  not properly managed [Relation] enable [Effect] disinterest some visitation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the exact duration is indeterminable, COVID-19 has and will continue to hamper near-term results; we model an 11% revenue decline in 2020 driven by on-premises weakness and coronavirus-induced currency headwinds.",
    "output": "[Cause] COVID-19 [Relation] prevent [Effect] near-term results",
    "gold": "[Cause] COVID-19 [Relation] prevent [Effect] near-term results",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Duke Realty has been adamant about its goal of focusing on high-quality assets, so we estimate that management will continue to dispose of noncore assets at somewhat higher yields.",
    "output": "[Cause] Duke Realty has been adamant about its goal of focusing on high-quality assets [Relation] cause [Effect] management will continue to dispose of noncore assets at somewhat higher yields",
    "gold": "[Cause] Duke Realty has been adamant about its goal of focusing on high-quality assets [Relation] cause [Effect] management will continue to dispose of noncore assets at somewhat higher yields",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, the auto industry is so cyclical that in bad times even the best parts suppliers cannot avoid large declines in return on invested capital and profit.",
    "output": "[Cause] the auto industry is so cyclical [Relation] cause [Effect] in bad times even the best parts suppliers cannot avoid large declines in return on invested capital and profit",
    "gold": "[Cause] the auto industry is so cyclical [Relation] cause [Effect] in bad times even the best parts suppliers cannot avoid large declines in return on invested capital and profit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We estimate consolidated operating margins will average 2.4% for the next few years as we expect the COVID-19 pandemic to pressure margins on the front end--ultimately picking up in 2021 and 2022.",
    "output": "[Cause] the COVID-19 pandemic to pressure margins on the front end--ultimately picking up in 2021 and 2022 [Relation] cause [Effect] consolidated operating margins will average 2.4% for the next few years",
    "gold": "[Cause] the COVID-19 pandemic to pressure margins on the front end--ultimately picking up in 2021 and 2022 [Relation] cause [Effect] consolidated operating margins will average 2.4% for the next few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cumulatively, we forecast Seagate's revenue to be roughly flat on average through fiscal 2025 as PC declines and a lack of significant SSD exposure hamstring strong growth in nearline drives.",
    "output": "[Cause] PC declines and a lack of significant SSD exposure [Relation] prevent [Effect] strong growth in nearline drives",
    "gold": "[Cause] PC declines and a lack of significant SSD exposure [Relation] prevent [Effect] strong growth in nearline drives",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cumulatively, we forecast Seagate's revenue to be roughly flat on average through fiscal 2025 as PC declines and a lack of significant SSD exposure hamstring strong growth in nearline drives.",
    "output": "[Cause] PC declines and a lack of significant SSD exposure hamstring strong growth in nearline drives [Relation] cause [Effect] Seagate's revenue to be roughly flat on average through fiscal 2025",
    "gold": "[Cause] PC declines and a lack of significant SSD exposure hamstring strong growth in nearline drives [Relation] cause [Effect] Seagate's revenue to be roughly flat on average through fiscal 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "VMware's hybrid cloud efforts, through partnerships with cloud providers, gives IT teams a sense of familiarity between private and public clouds.",
    "output": "[Cause] VMware's hybrid cloud efforts, through partnerships with cloud providers [Relation] enable [Effect] gives IT teams a sense of familiarity between private and public clouds",
    "gold": "[Cause] VMware's hybrid cloud efforts, through partnerships with cloud providers [Relation] cause [Effect] gives IT teams a sense of familiarity between private and public clouds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Approved treatments Kalydeco, Orkambi, Symdeko, and Trikafta will make Vertex eligible to treat about 90% of the CF population, assuming international and pediatric approvals.",
    "output": "[Cause] international and pediatric approvals [Relation] enable [Effect] Approved treatments Kalydeco, Orkambi, Symdeko, and Trikafta will make Vertex eligible to treat about 90% of the CF population",
    "gold": "[Cause] international and pediatric approvals [Relation] cause [Effect] Approved treatments Kalydeco, Orkambi, Symdeko, and Trikafta will make Vertex eligible to treat about 90% of the CF population",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we recognize that these multiples are elevated from normal levels, we think multiple expansion is justified because we expect a substantial ramp up in production post-pandemic to serve the firm's backlog of roughly 7,000 aircraft.",
    "output": "[Cause] we expect a substantial ramp up in production post-pandemic to serve the firm's backlog of roughly 7,000 aircraft [Relation] cause [Effect] While we recognize that these multiples are elevated from normal levels, we think multiple expansion is justified",
    "gold": "[Cause] we expect a substantial ramp up in production post-pandemic to serve the firm's backlog of roughly 7,000 aircraft [Relation] cause [Effect] While we recognize that these multiples are elevated from normal levels, we think multiple expansion is justified",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In a downturn, which can be caused by an airborne illness like coronavirus, consumers and businesses look to cut back on expenses like travel.",
    "output": "[Cause] an airborne illness like coronavirus [Relation] cause [Effect] a downturn",
    "gold": "[Cause] a downturn [Relation] cause [Effect] consumers and businesses look to cut back on expenses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In a downturn, which can be caused by an airborne illness like coronavirus, consumers and businesses look to cut back on expenses like travel.",
    "output": "[Cause] an airborne illness like coronavirus [Relation] cause [Effect] consumers and businesses look to cut back on expenses like travel",
    "gold": "[Cause] an airborne illness [Relation] cause [Effect] a downturn",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the coming years, we expect a slight haircut on its main operating expense, selling, general, and administrative costs, as the company continues to scale.",
    "output": "[Cause] the company continues to scale [Relation] cause [Effect] a slight haircut on its main operating expense, selling, general, and administrative costs",
    "gold": "[Cause]  the company continues to scale [Relation] cause [Effect] a slight haircut on its main operating expense, selling, general, and administrative costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "New use cases allow TE to sell new, higher-priced SKUs into an end product alongside its incumbent positions, increasing the firm's overall content.",
    "output": "[Cause] New use cases [Relation] enable [Effect] TE to sell new, higher-priced SKUs into an end product alongside its incumbent positions",
    "gold": "[Cause] New use cases [Relation] enable [Effect] TE to sell new, higher-priced SKUs into an end product alongside its incumbent positions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "New use cases allow TE to sell new, higher-priced SKUs into an end product alongside its incumbent positions, increasing the firm's overall content.",
    "output": "[Cause] New use cases [Relation] enable [Effect] increasing the firm's overall content",
    "gold": "[Cause] TE to sell new, higher-priced SKUs into an end product alongside its incumbent positions [Relation] enable [Effect] increasing the firm's overall content",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The COVID-19 pandemic forced the temporary closure of Tapestry's stores and continues to affect consumer spending on accessories and apparel in some regions.",
    "output": "[Cause] The COVID-19 pandemic [Relation] cause [Effect] the temporary closure of Tapestry's stores and continues to affect consumer spending on accessories and apparel in some regions",
    "gold": "[Cause] The COVID-19 pandemic [Relation] cause [Effect]  the temporary closure of Tapestry's stores and continues to affect consumer spending on accessories and apparel in some regions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The history of oilfield services, as in many industries, indicates that such an oligopoly can maintain a level of pricing commensurate with economic profits.",
    "output": "[Cause] The history of oilfield services, as in many industries [Relation] enable [Effect] such an oligopoly can maintain a level of pricing commensurate with economic profits",
    "gold": "[Cause] oligopoly [Relation] enable [Effect] maintain a level of pricing commensurate with economic profits",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Total's upstream portfolio managed to deliver returns on capital employed of only 6% during 2015-19, below average compared with other integrated firms, as greater exposure to natural gas weighed on margins and high levels of spending expanded its capital base.",
    "output": "[Cause] greater exposure to natural gas weighed on margins and high levels of spending expanded its capital base [Relation] cause [Effect] Total's upstream portfolio managed to deliver returns on capital employed of only 6% during 2015-19, below average compared with other integrated firms",
    "gold": "[Cause] greater exposure to natural gas weighed on margins and high levels of spending expanded its capital base [Relation] cause [Effect] Total's upstream portfolio managed to deliver returns on capital employed of only 6% during 2015-19, below average compared with other integrated firms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For instance, if a simulation were to predict erroneous results, leading to a number of faulty aircraft or autos to be produced, we think Dassault Systemes' reputation could greatly suffer.",
    "output": "[Cause] a simulation were to predict erroneous results [Relation] cause [Effect] a number of faulty aircraft or autos to be produced",
    "gold": "[Cause] a simulation were to predict erroneous results [Relation] cause [Effect]  a number of faulty aircraft or autos to be produced",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For instance, if a simulation were to predict erroneous results, leading to a number of faulty aircraft or autos to be produced, we think Dassault Systemes' reputation could greatly suffer.",
    "output": "[Cause] a simulation were to predict erroneous results [Relation] cause [Effect] Dassault Systemes' reputation could greatly suffer",
    "gold": "[Cause]  a number of faulty aircraft or autos to be produced [Relation] cause [Effect] Dassault Systemes' reputation could greatly suffer",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While vacancies are hovering around historically low levels, the response from increased construction over the past several years has supported our view that any increase in demand for industrial warehouse and distribution space can be appropriately met with new supply.",
    "output": "[Cause] the response from increased construction over the past several years [Relation] enable [Effect] any increase in demand for industrial warehouse and distribution space can be appropriately met with new supply",
    "gold": "[Cause] any increase in demand for industrial warehouse and distribution space can be appropriately met with new supply [Relation] cause [Effect] While vacancies are hovering around historically low levels, the response from increased construction over the past several years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Growth in demand and further word-of-mouth marketing attracted more drivers or, in other words, increased the supply of Lyft vehicles.",
    "output": "[Cause] Growth in demand and further word-of-mouth marketing [Relation] enable [Effect] attracted more drivers",
    "gold": "[Cause] Growth in demand and further word-of-mouth marketing [Relation] cause [Effect] attracted more drivers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Growth in demand and further word-of-mouth marketing attracted more drivers or, in other words, increased the supply of Lyft vehicles.",
    "output": "[Cause] Growth in demand and further word-of-mouth marketing [Relation] cause [Effect] increased the supply of Lyft vehicles",
    "gold": "[Cause] Growth in demand and further word-of-mouth marketing [Relation] cause [Effect]  increased the supply of Lyft vehicles",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect IQVIA to push fixed-price contracting in contracts where it has more visibility into costs, allowing it to retain a higher margin.",
    "output": "[Cause] IQVIA to push fixed-price contracting in contracts where it has more visibility into costs [Relation] enable [Effect] retain a higher margin",
    "gold": "[Cause] IQVIA to push fixed-price contracting in contracts where it has more visibility into costs [Relation] enable [Effect] retain a higher margin",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, Corteva is in the process of launching four herbicides, eight new insecticides, and nine new fungicides over the next decade. As a result, 34% of crop protection sales come from premium products in 2020, up from 14% in 2018, the year before Corteva was spun off.",
    "output": "[Cause] Corteva is in the process of launching four herbicides, eight new insecticides, and nine new fungicides over the next decade [Relation] cause [Effect] 34% of crop protection sales come from premium products in 2020, up from 14% in 2018, the year before Corteva was spun off",
    "gold": "[Cause] Corteva is in the process of launching four herbicides, eight new insecticides, and nine new fungicides over the next decade [Relation] cause [Effect] 34% of crop protection sales come from premium products in 2020, up from 14% in 2018, the year before Corteva was spun off",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the medium term, we expect net interest margins to expand to 1.8%, as we don't anticipate a near-zero base rate to become the new normal.",
    "output": "[Cause] we don't anticipate a near-zero base rate to become the new normal [Relation] cause [Effect] net interest margins to expand to 1.8%",
    "gold": "[Cause]  we don't anticipate a near-zero base rate to become the new normal [Relation] enable [Effect]  net interest margins to expand to 1.8%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the market share bleed has been arrested with the divestment of BJ Services and management's renewed focus on the segment's core businesses.",
    "output": "[Cause] the divestment of BJ Services and management's renewed focus on the segment's core businesses [Relation] cause [Effect] the market share bleed has been arrested",
    "gold": "[Cause] the divestment of BJ Services and management's renewed focus on the segment's core businesses [Relation] cause [Effect]  the market share bleed has been arrested",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our base case, we assume short-term rent growth and re-leasing spreads decline due to challenges arising from the coronavirus outbreak and significant Class A supply additions in Manhattan over the past few years.",
    "output": "[Cause] challenges arising from the coronavirus outbreak and significant Class A supply additions in Manhattan over the past few years [Relation] cause [Effect] short-term rent growth and re-leasing spreads decline",
    "gold": "[Cause] challenges arising from the coronavirus outbreak and significant Class A supply additions in Manhattan over the past few years [Relation] cause [Effect] short-term rent growth and re-leasing spreads decline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Therefore, despite the uncertain economic outlook, those projects are more difficult for customers to use as levers to cut their budgets, as they are \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"in process.\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" Therefore, we would expect orders to be weak this year, dampening growth next year.",
    "output": "[Cause] levers to cut their budgets [Relation] cause [Effect] those projects are more difficult for customers to use",
    "gold": "[Cause] levers to cut their budgets [Relation] cause [Effect] those projects are more difficult for customers to use",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Therefore, despite the uncertain economic outlook, those projects are more difficult for customers to use as levers to cut their budgets, as they are \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"in process.\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" Therefore, we would expect orders to be weak this year, dampening growth next year.",
    "output": "[Cause] levers to cut their budgets [Relation] cause [Effect] those projects are more difficult for customers to use",
    "gold": "[Cause] orders to be weak this year [Relation] prevent [Effect] growth next year",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Along those lines, COVID-19 containment measures across the United States will materially compress truckload freight demand throughout 2020, despite a relatively short-lived spike in food and beverage and household item restocking during the first quarter.",
    "output": "[Cause] COVID-19 containment measures across the United States [Relation] cause [Effect] materially compress truckload freight demand throughout 2020",
    "gold": "[Cause]  COVID-19 containment measures across the United States [Relation] cause [Effect] materially compress truckload freight demand throughout 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the company owning the production lines and supporting equipment for its products, any secular shift in the marketplace away from a particular offering could leave the firm absorbing an inordinate amount of fixed costs as it seeks to pivot the asset base.",
    "output": "[Cause] it seeks to pivot the asset base [Relation] cause [Effect] any secular shift in the marketplace away from a particular offering could leave the firm absorbing an inordinate amount of fixed costs",
    "gold": "[Cause] the company owning the production lines and supporting equipment for its products [Relation] cause [Effect] any secular shift in the marketplace away from a particular offering could leave the firm absorbing an inordinate amount of fixed costs as it seeks to pivot the asset base",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While demand for outdoor recreational products has been elevated with social distancing measures as a result of the pandemic, we expect sustained sales growth stemming from market share gains and expansion into whitespace categories. As a result of its success, Malibu should generate competitive returns on invested capital, including goodwill, that average 25% over the next decade.",
    "output": "[Cause] While demand for outdoor recreational products has been elevated with social distancing measures as a result of the pandemic, we expect sustained sales growth stemming from market share gains and expansion into whitespace categories [Relation] cause [Effect] Malibu should generate competitive returns on invested capital, including goodwill, that average 25% over the next decade",
    "gold": "[Cause] While demand for outdoor recreational products has been elevated with social distancing measures as a result of the pandemic, we expect sustained sales growth stemming from market share gains and expansion into whitespace categories [Relation] cause [Effect] Malibu should generate competitive returns on invested capital, including goodwill, that average 25% over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, we expect IBM technology services to see a compound annual decline rate of 1% from 2021 to 2025 as more sticky IBM software is applicable in other clouds.",
    "output": "[Cause] more sticky IBM software is applicable in other clouds [Relation] cause [Effect] IBM technology services to see a compound annual decline rate of 1% from 2021 to 2025",
    "gold": "[Cause] more sticky IBM software is applicable in other clouds [Relation] cause [Effect] IBM technology services to see a compound annual decline rate of 1% from 2021 to 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, if timber availability is low near a sawmill, a local seller could increase pricing up to the point that distant transportation becomes more economical.",
    "output": "[Cause] timber availability is low near a sawmill [Relation] cause [Effect] a local seller could increase pricing up to the point that distant transportation becomes more economical",
    "gold": "[Cause] timber availability is low near a sawmill [Relation] enable [Effect] a local seller could increase pricing up to the point that distant transportation becomes more economical",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "MPLX also bought G&amp;P assets during that time but has taken much smaller write downs as a share of its purchase price because of the superior asset locations.",
    "output": "[Cause] the superior asset locations [Relation] cause [Effect] has taken much smaller write downs as a share of its purchase price",
    "gold": "[Cause] the superior asset locations [Relation] cause [Effect]  has taken much smaller write downs as a share of its purchase price",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the collaborative nature of the M&amp;A process, we believe Intralinks has a slight network effect, as it makes sense for a corporation to use a platform that banks are familiar with and vice versa.",
    "output": "[Cause] the collaborative nature of the M&amp;A process [Relation] cause [Effect] Intralinks has a slight network effect",
    "gold": "[Cause]  the collaborative nature of the M&amp [Relation] enable [Effect]  we believe",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the collaborative nature of the M&amp;A process, we believe Intralinks has a slight network effect, as it makes sense for a corporation to use a platform that banks are familiar with and vice versa.",
    "output": "[Cause] it makes sense for a corporation to use a platform that banks are familiar with and vice versa [Relation] cause [Effect] Intralinks has a slight network effect",
    "gold": "[Cause]  it makes sense for a corporation to use a platform that banks are familiar with and vice versa [Relation] enable [Effect] Intralinks has a slight network effect",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we do not think the negotiating position of DaVita is substantially different than Fresenius given their similar market positions, we think both players enjoy stronger negotiating positions than the average U.S.",
    "output": "[Cause] their similar market positions [Relation] cause [Effect] we do not think the negotiating position of DaVita is substantially different than Fresenius",
    "gold": "[Cause] we do not think the negotiating position of DaVita is substantially different than Fresenius given their similar market positions [Relation] cause [Effect] both players enjoy stronger negotiating positions than the average U.S",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the wealth management segment, the two potential risks are the loss of financial advisors and mismanagement of the banking business.",
    "output": "[Cause] the loss of financial advisors [Relation] cause [Effect] the two potential risks",
    "gold": "[Cause] the loss of financial advisors [Relation] cause [Effect]  the two potential risks | In the wealth management segment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the wealth management segment, the two potential risks are the loss of financial advisors and mismanagement of the banking business.",
    "output": "[Cause] the loss of financial advisors and mismanagement of the banking business [Relation] cause [Effect] the two potential risks",
    "gold": "[Cause] mismanagement of the banking business [Relation] cause [Effect]  the two potential risks | In the wealth management segment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Pandemic disruption hit CP's carload volumes in early 2020, and the rail has also grappled with soft coal and crude-by-rail shipments.",
    "output": "[Cause] Pandemic disruption hit CP's carload volumes in early 2020 [Relation] cause [Effect] the rail has also grappled with soft coal and crude-by-rail shipments",
    "gold": "[Cause] Pandemic disruption hit CP's carload volumes in early 2020 [Relation] cause [Effect]  the rail has also grappled with soft coal and crude-by-rail shipments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Both of these markets pose high barriers to entry and require massive capital investment, but also have rapid commoditization curves and mostly fungible products that we think erode their participants' ability to earn excess returns on invested capital.",
    "output": "[Cause] Both of these markets pose high barriers to entry and require massive capital investment [Relation] cause [Effect] rapid commoditization curves and mostly fungible products",
    "gold": "[Cause] Both of these markets pose high barriers to entry [Relation] cause [Effect] require massive capital investment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With complexity removed from its operations (after shedding more than 100 brands from its mix since 2014), P&G has targeted extracting another $10 billion of costs by reducing overhead, lowering material costs from product design and formulation efficiencies, and increasing manufacturing and marketing productivity.",
    "output": "[Cause] complexity removed from its operations (after shedding more than 100 brands from its mix since 2014) [Relation] cause [Effect] P&G has targeted extracting another $10 billion of costs by reducing overhead, lowering material costs from product design and formulation efficiencies, and increasing manufacturing and marketing productivity",
    "gold": "[Cause]  complexity removed from its operations (after shedding more than 100 brands from its mix since 2014) [Relation] enable [Effect] P&G has targeted extracting another $10 billion of costs by reducing overhead, lowering material costs from product design and formulation efficiencies, and increasing manufacturing and marketing productivity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "LifeLock could be eschewed for price-competitive offerings from the large credit bureaus or other competitors, and existing customers may not see the value in their subscriptions without proactive protection inhibiting critical information from being stolen throughout the year.",
    "output": "[Cause] proactive protection inhibiting critical information from being stolen throughout the year [Relation] cause [Effect] existing customers may not see the value in their subscriptions",
    "gold": "[Cause] price-competitive offerings from the large credit bureaus or other competitors [Relation] enable [Effect] LifeLock could be eschewed",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Regeneron's ability to supply a COVID-19 treatment has driven share price appreciation in 2020, but trials with Kevzara were disappointing, and it is unclear how long there will be demand for REGN-COV2 treatment, given strong and rapid vaccine development.",
    "output": "[Cause] Regeneron's ability to supply a COVID-19 treatment [Relation] enable [Effect] driven share price appreciation in 2020",
    "gold": "[Cause] Regeneron's ability to supply a COVID-19 treatment [Relation] enable [Effect] driven share price appreciation in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nonetheless, we think that total revenue generated by ERP customers will grow by over 50% as more and more cloud customers should increase the lifetime value they offer to SAP.  These trends should enable SAP to increase revenue at a compound annual rate of 6% over the next five years.",
    "output": "[Cause] total revenue generated by ERP customers will grow by over 50% as more and more cloud customers should increase the lifetime value they offer to SAP [Relation] enable [Effect] SAP to increase revenue at a compound annual rate of 6% over the next five years",
    "gold": "[Cause] total revenue generated by ERP customers will grow by over 50% as more and more cloud customers should increase the lifetime value they offer to SAP [Relation] enable [Effect] SAP to increase revenue at a compound annual rate of 6% over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, we think there is a slow-moving risk in the form of more consumers embracing vegetarian diets or reducing the volume of meat consumed in the interest of mitigating the environmental impact of raising production animals, especially in the industrial farm model.",
    "output": "[Cause] more consumers embracing vegetarian diets or reducing the volume of meat consumed in the interest of mitigating the environmental impact of raising production animals, especially in the industrial farm model [Relation] cause [Effect] there is a slow-moving risk",
    "gold": "[Cause] more consumers embracing vegetarian diets or reducing the volume of meat consumed [Relation] enable [Effect] mitigating the environmental impact of raising production animals",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The typical wireless customer consumes around 5 GB of data on wireless networks per month while the typical fixed-line Internet access subscriber uses several hundred GB, a figure that continues to grow rapidly thanks to demand for streaming and online communications services.",
    "output": "[Cause] demand for streaming and online communications services [Relation] cause [Effect] a figure that continues to grow rapidly",
    "gold": "[Cause] demand for streaming and online communications services [Relation] cause [Effect]  a figure that continues to grow rapidly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Synaptics' revenue sources mimic this concentration, which leaves the firm susceptible to the significant risk of being left out of an upcoming design.",
    "output": "[Cause] Synaptics' revenue sources mimic this concentration [Relation] cause [Effect] the firm susceptible to the significant risk of being left out of an upcoming design",
    "gold": "[Cause] Synaptics' revenue sources mimic this concentration [Relation] cause [Effect] the firm susceptible to the significant risk of being left out of an upcoming design",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's size gives it some economies of scale in terms of controlling costs as it can hire its own maintenance and repair technicians to service its homes, allowing it to maintain higher operating margins than smaller competitors that need to contract out the same services.",
    "output": "[Cause] it can hire its own maintenance and repair technicians to service its homes [Relation] enable [Effect] The company's size gives it some economies of scale in terms of controlling costs",
    "gold": "[Cause]  it can hire its own maintenance and repair technicians to service its homes [Relation] cause [Effect] The company's size gives it some economies of scale in terms of controlling costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Of note, export coal volumes and pricing can see variability linked to changes in demand for met coal used in steelmaking overseas.",
    "output": "[Cause] changes in demand for met coal used in steelmaking overseas [Relation] cause [Effect] export coal volumes and pricing can see variability",
    "gold": "[Cause]  changes in demand for met coal used in steelmaking overseas [Relation] cause [Effect]  export coal volumes and pricing can see variability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Video accounts, miniprograms, official accounts, Weixin Pay and WeCom facilitate communications, and more importantly, transactions, between users and industries, allowing companies to monetize their followers in official accounts and private chat groups.",
    "output": "[Cause] Video accounts, miniprograms, official accounts, Weixin Pay and WeCom facilitate communications, and more importantly, transactions, between users and industries [Relation] enable [Effect] companies to monetize their followers in official accounts and private chat groups",
    "gold": "[Cause] Video accounts, miniprograms, official accounts, Weixin Pay and WeCom facilitate communications, and more importantly, transactions, between users and industries [Relation] enable [Effect]  companies to monetize their followers in official accounts and private chat groups",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Autodesk's offerings exhibit switching costs across all its industry exposures due to the complexity of its products.",
    "output": "[Cause] the complexity of its products [Relation] cause [Effect] Autodesk's offerings exhibit switching costs across all its industry exposures",
    "gold": "[Cause] the complexity of its products [Relation] cause [Effect] Autodesk's offerings exhibit switching costs across all its industry exposures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the quarter was largely as expected, we now expect a more robust post-pandemic sales recovery, given the firm's brand revitalization efforts and expansion into high-growth markets (skincare, prestige makeup, China, e-commerce), taking our three-year forward average annual organic sales estimate to 6% from 3%.",
    "output": "[Cause] the firm's brand revitalization efforts and expansion into high-growth markets (skincare, prestige makeup, China, e-commerce) [Relation] cause [Effect] a more robust post-pandemic sales recovery",
    "gold": "[Cause] a more robust post-pandemic sales recovery [Relation] enable [Effect] taking our three-year forward average annual organic sales estimate to 6% from 3%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If the company does not invest appropriately in these product sets, its peers may surpass Baxter's technology enough to affect market share eventually.",
    "output": "[Cause] the company does not invest appropriately in these product sets [Relation] cause [Effect] its peers may surpass Baxter's technology enough to affect market share eventually",
    "gold": "[Cause] the company does not invest appropriately in these product sets [Relation] cause [Effect] its peers may surpass Baxter's technology enough to affect market share eventually",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On top of this, there are innate differences in Oxxo's assortment of products relative to retail peers with broader portfolios, giving rise to an additional layer of favorable cost dynamics.",
    "output": "[Cause] there are innate differences in Oxxo's assortment of products relative to retail peers with broader portfolios [Relation] cause [Effect] an additional layer of favorable cost dynamics",
    "gold": "[Cause] there are innate differences in Oxxo's assortment of products relative to retail peers with broader portfolios [Relation] cause [Effect] an additional layer of favorable cost dynamics",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "New or smaller entrants have a hard time contending because of these established players' scale, breadth of product offerings, and product familiarity.",
    "output": "[Cause] these established players' scale, breadth of product offerings, and product familiarity [Relation] cause [Effect] New or smaller entrants have a hard time contending",
    "gold": "[Cause] these established players' scale, breadth of product offerings, and product familiarity [Relation] cause [Effect] New or smaller entrants have a hard time contending",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This allows for common processes to be written once and used repeatedly, thereby lowering costs and decreasing the time between process or application updates.",
    "output": "[Cause] common processes to be written once and used repeatedly [Relation] enable [Effect] lowering costs and decreasing the time between process or application updates",
    "gold": "[Cause] common processes to be written once and used repeatedly [Relation] enable [Effect] lowering costs and decreasing the time between process or application updates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Verizon has undertaken a major fiber expansion project recently, which promises to remake Fios to serve wireless and business customers while also adding capacity in other major markets around the United States. This undertaking should support the firm's effort to lead the industry in 5G technology deployment and enable it to serve new customers, providing strategic benefits, though we don't expect 5G will have a major impact on the home broadband market.",
    "output": "[Cause] Verizon has undertaken a major fiber expansion project recently, which promises to remake Fios to serve wireless and business customers while also adding capacity in other major markets around the United States [Relation] enable [Effect] support the firm's effort to lead the industry in 5G technology deployment and enable it to serve new customers, providing strategic benefits, though we don't expect 5G will have a major impact on the home broadband market",
    "gold": "[Cause] Verizon has undertaken a major fiber expansion project recently, which promises to remake Fios to serve wireless and business customers while also adding capacity in other major markets around the United States [Relation] enable [Effect] support the firm's effort to lead the industry in 5G technology deployment and enable it to serve new customers, providing strategic benefits, though we don't expect 5G will have a major impact on the home broadband market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the U.S., traditional distributors may already have too many channels and may need to lower the overall size of their offering to compete with the skinny bundles from the OTT pay-television platforms.",
    "output": "[Cause] lower the overall size of their offering [Relation] enable [Effect] compete with the skinny bundles from the OTT pay-television platforms",
    "gold": "[Cause] lower the overall size of their offering [Relation] enable [Effect] compete with the skinny bundles from the OTT pay-television platforms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm also relies on access to inexpensive, imported items to maintain its low price points; sharp inflation could dilute Five Below's value proposition by forcing prices higher.",
    "output": "[Cause] access to inexpensive, imported items [Relation] enable [Effect] maintain its low price points",
    "gold": "[Cause] sharp inflation [Relation] cause [Effect] dilute Five Below's value proposition by forcing prices higher",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm also relies on access to inexpensive, imported items to maintain its low price points; sharp inflation could dilute Five Below's value proposition by forcing prices higher.",
    "output": "[Cause] sharp inflation [Relation] cause [Effect] dilute Five Below's value proposition by forcing prices higher",
    "gold": "[Cause] access to inexpensive, imported items [Relation] enable [Effect] maintain its low price points",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A cost advantage would be exhibited in either profit margins that are higher than competitors or dominant market share (a cost advantage would allow the company to offer lower prices to secure greater volume).",
    "output": "[Cause] A cost advantage [Relation] enable [Effect] the company to offer lower prices to secure greater volume",
    "gold": "[Cause] a cost advantage would allow the company to offer lower prices to secure greater volume [Relation] cause [Effect] exhibited in either profit margins that are higher than competitors or dominant market share",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We project average annual revenue organic growth (excluding divestments) of roughly 4% through fiscal 2025, as the company is set to benefit from a robust backlog that stood at $39.7 billion as of December 2020, compared with $36.5 billion in December 2019.",
    "output": "[Cause] the company is set to benefit from a robust backlog that stood at $39.7 billion as of December 2020, compared with $36.5 billion in December 2019 [Relation] cause [Effect] average annual revenue organic growth (excluding divestments) of roughly 4% through fiscal 2025",
    "gold": "[Cause]  the company is set to benefit from a robust backlog that stood at $39.7 billion as of December 2020, compared with $36.5 billion in December 2019 [Relation] cause [Effect] We project average annual revenue organic growth (excluding divestments) of roughly 4%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To address these headwinds, Amgen has invested heavily in more-efficient manufacturing and has undertaken a massive cost-cutting program to defend margins and reinvest in research and development and promotion in new areas, like cardiology.",
    "output": "[Cause] Amgen has invested heavily in more-efficient manufacturing and has undertaken a massive cost-cutting program [Relation] enable [Effect] defend margins and reinvest in research and development and promotion in new areas, like cardiology",
    "gold": "[Cause] Amgen has invested heavily in more-efficient manufacturing and has undertaken a massive cost-cutting program [Relation] enable [Effect] defend margins and reinvest in research and development and promotion in new areas, like cardiology",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see switching costs within the Canadian system as driven by a tightly regulated oligopolistic market structure that limits excess competition, thereby stabilizing product pricing and giving customers less incentive to switch banks.",
    "output": "[Cause] a tightly regulated oligopolistic market structure [Relation] cause [Effect] switching costs within the Canadian system",
    "gold": "[Cause] switching costs within the Canadian system as driven by a tightly regulated oligopolistic market structure [Relation] prevent [Effect] excess competition",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We see switching costs within the Canadian system as driven by a tightly regulated oligopolistic market structure that limits excess competition, thereby stabilizing product pricing and giving customers less incentive to switch banks.",
    "output": "[Cause] switching costs within the Canadian system as driven by a tightly regulated oligopolistic market structure [Relation] cause [Effect] stabilizing product pricing and giving customers less incentive to switch banks",
    "gold": "[Cause] limits excess competition [Relation] enable [Effect]  stabilizing product pricing and giving customers less incentive to switch banks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We project 5% average annual growth for the cable segment as broadband penetration continues to increase in Mexico and the firm expands its footprint.",
    "output": "[Cause] broadband penetration continues to increase in Mexico and the firm expands its footprint [Relation] cause [Effect] We project 5% average annual growth for the cable segment",
    "gold": "[Cause] broadband penetration continues to increase in Mexico and the firm expands its footprint [Relation] cause [Effect] We project 5% average annual growth for the cable segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It has not historically been able to generate free cash flow, but this should change in 2021 with higher oil and gas prices and Range shifting its stance to operating in maintenance mode.",
    "output": "[Cause] higher oil and gas prices and Range shifting its stance to operating in maintenance mode [Relation] cause [Effect] It has not historically been able to generate free cash flow",
    "gold": "[Cause] higher oil and gas prices and Range [Relation] cause [Effect] shifting its stance to operating in maintenance mode",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, ArcelorMittal saves on transportation costs because some of its mines are very close to the steel plants in which the iron ore is used.",
    "output": "[Cause] some of its mines are very close to the steel plants in which the iron ore is used [Relation] cause [Effect] ArcelorMittal saves on transportation costs",
    "gold": "[Cause] some of its mines are very close to the steel plants in which the iron ore is used [Relation] cause [Effect] ArcelorMittal saves on transportation costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Concurrently, larger fleets have more control over their repair costs by bringing some of this work in-house and elect to keep trucks for a shorter period to contain repair expenses.",
    "output": "[Cause] bringing some of this work in-house [Relation] enable [Effect] larger fleets have more control over their repair costs",
    "gold": "[Cause] contain repair expenses [Relation] cause [Effect] elect to keep trucks for a shorter period",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Concurrently, larger fleets have more control over their repair costs by bringing some of this work in-house and elect to keep trucks for a shorter period to contain repair expenses.",
    "output": "[Cause] elect to keep trucks for a shorter period [Relation] enable [Effect] contain repair expenses",
    "gold": "[Cause] larger fleets have more control over their repair costs [Relation] cause [Effect] bringing some of this work in-house",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We rate Shaw as high uncertainty, as it has put significant resources behind its attempt to become a fourth major wireless competitor in Canada.",
    "output": "[Cause] it has put significant resources behind its attempt to become a fourth major wireless competitor in Canada [Relation] cause [Effect] We rate Shaw as high uncertainty",
    "gold": "[Cause] it has put significant resources behind its attempt to become a fourth major wireless competitor in Canada [Relation] cause [Effect] We rate Shaw as high uncertainty",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Though Coke does not own most of its bottlers, it tacitly exercises control similar to ownership, since it controls the lion's share of its bottlers' volumes.",
    "output": "[Cause] it controls the lion's share of its bottlers' volumes [Relation] cause [Effect] it tacitly exercises control similar to ownership",
    "gold": "[Cause] it controls the lion's share of its bottlers' volumes [Relation] cause [Effect] it tacitly exercises control similar to ownership",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect the use of co-manufacturers to curb profits until capacity expansion efforts are complete (likely by the end of fiscal 2022).",
    "output": "[Cause] capacity expansion efforts are complete [Relation] cause [Effect] the use of co-manufacturers to curb profits",
    "gold": "[Cause] use of co-manufacturers to curb profits [Relation] enable [Effect] capacity expansion efforts are complete",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A number of ADS' partners have already declared bankruptcy, and the credit card portfolios tied to those programs will likely atrophy over time, creating a significant headwind to the company's receivables balance.",
    "output": "[Cause] A number of ADS' partners have already declared bankruptcy, and the credit card portfolios tied to those programs will likely atrophy over time [Relation] cause [Effect] creating a significant headwind to the company's receivables balance",
    "gold": "[Cause] A number of ADS' partners have already declared bankruptcy, and the credit card portfolios tied to those programs will likely atrophy over time [Relation] cause [Effect] creating a significant headwind to the company's receivables balance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, investors should know that the company's acquisition activities, while strategically attractive, may constrain returns on invested capital including goodwill for the foreseeable future.",
    "output": "[Cause] the company's acquisition activities [Relation] prevent [Effect] returns on invested capital including goodwill for the foreseeable future",
    "gold": "[Cause] the company's acquisition activities [Relation] cause [Effect] constrain returns on invested capital",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Overall, we assume a 13.1% EBIT margin in 2025 driven by margin improvements in D&T and connected care and EBIT margins for personal health in the mid- to high teens.",
    "output": "[Cause] margin improvements in D&T and connected care and EBIT margins for personal health in the mid- to high teens [Relation] cause [Effect] a 13.1% EBIT margin in 2025",
    "gold": "[Cause] margin improvements in D&T and connected care and EBIT margins for personal health in the mid- to high teens [Relation] enable [Effect] a 13.1% EBIT margin in 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cushman &amp; Wakefield's competitive position derives in large part from its lengthy track record of effective service, which has allowed it to bolster its reputation.",
    "output": "[Cause] its lengthy track record of effective service [Relation] enable [Effect] Wakefield's competitive position",
    "gold": "[Cause] its lengthy track record of effective service [Relation] enable [Effect] Wakefield's competitive position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "First Solar must stay ahead of a large pack of competitors by continuing to reduce panel costs and increase efficiency.",
    "output": "[Cause] continuing to reduce panel costs and increase efficiency [Relation] enable [Effect] stay ahead of a large pack of competitors",
    "gold": "[Cause]  continuing to reduce panel costs and increase efficiency [Relation] enable [Effect] stay ahead of a large pack of competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nonetheless, we believe there will always be a fair amount of risk that Qualcomm's QTL business will face additional regulatory scrutiny that could threaten its licensing revenue.",
    "output": "[Cause] Qualcomm's QTL business will face additional regulatory scrutiny [Relation] cause [Effect] threaten its licensing revenue",
    "gold": "[Cause] Qualcomm's QTL business will face additional regulatory scrutiny [Relation] cause [Effect] threaten its licensing revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But we think it's been charting a new course, aiming to extract another $10 billion in costs to reduce head count and overhead, improve manufacturing efficiency, and free up funds to reinvest in its business.",
    "output": "[Cause] extract another $10 billion in costs [Relation] enable [Effect] reduce head count and overhead, improve manufacturing efficiency, and free up funds to reinvest in its business",
    "gold": "[Cause]  it's been charting a new course [Relation] enable [Effect] extract another $10 billion in costs to reduce head count and overhead, improve manufacturing efficiency, and free up funds to reinvest in its business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect the SiC market to rise exponentially in the next decade or more, given the potential for SiC semis to displace silicon-based semis in electric vehicles (EVs) and industrial applications as SiC can handle higher voltages and temperatures.",
    "output": "[Cause] SiC can handle higher voltages and temperatures [Relation] cause [Effect] the potential for SiC semis to displace silicon-based semis in electric vehicles (EVs) and industrial applications",
    "gold": "[Cause] given the potential for SiC semis to displace silicon-based semis in electric vehicles (EVs) and industrial applications [Relation] cause [Effect] We expect the SiC market to rise exponentially in the next decade or more",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe insurers that consistently achieve positive underwriting profitability are better bets in the long run, as insurance profitability tends to be more sustainable than investment income.",
    "output": "[Cause] insurance profitability tends to be more sustainable than investment income [Relation] cause [Effect] insurers that consistently achieve positive underwriting profitability are better bets in the long run",
    "gold": "[Cause]  insurance profitability tends to be more sustainable than investment income [Relation] cause [Effect]  insurers that consistently achieve positive underwriting profitability are better bets in the long run",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, sometimes Williams can obtain minimum volume commitments for its G&amp;P assets where it is particularly well positioned in terms of takeaway capacity.",
    "output": "[Cause] it is particularly well positioned in terms of takeaway capacity [Relation] cause [Effect] sometimes Williams can obtain minimum volume commitments for its G&amp;P assets",
    "gold": "[Cause] obtain minimum volume commitments [Relation] cause [Effect] particularly well positioned in terms of takeaway capacity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our forecast assumes five-year revenue compound annual growth rate in excess of 20%, reflecting strength in Veeva Vault as it eclipses Commercial Cloud.",
    "output": "[Cause] it eclipses Commercial Cloud [Relation] cause [Effect] strength in Veeva Vault",
    "gold": "[Cause]  it eclipses Commercial Cloud [Relation] enable [Effect] five-year revenue compound annual growth rate in excess of 20%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Offering customers a select assortment of high-value merchandise in a low-frills environment delivers several benefits that allow Costco to continually hold prices down and leverage its warehouse infrastructure.",
    "output": "[Cause] Offering customers a select assortment of high-value merchandise in a low-frills environment delivers several benefits [Relation] enable [Effect] Costco to continually hold prices down and leverage its warehouse infrastructure",
    "gold": "[Cause] Offering customers a select assortment of high-value merchandise in a low-frills environment delivers several benefits [Relation] enable [Effect] Costco to continually hold prices down and leverage its warehouse infrastructure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because we consider interconnection the heart of CoreSite's business, our primary considerations include the possibility of firms making comparable connections from off-premise locations and their ability to pass more and more data through a single cross connect.",
    "output": "[Cause] we consider interconnection the heart of CoreSite's business [Relation] cause [Effect] our primary considerations include the possibility of firms making comparable connections from off-premise locations and their ability to pass more and more data through a single cross connect",
    "gold": "[Cause] we consider interconnection the heart of CoreSite's business [Relation] cause [Effect] our primary considerations include the possibility of firms making comparable connections from off-premise locations and their ability to pass more and more data through a single cross connect",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We estimate slightly faster 5.5% average annual revenue growth from the restorative therapies group through fiscal 2024, driven by adoption of new technologies in neuromodulation and neurovascular and a return to growth of the spine business thanks to the addition of the Mazor robot.",
    "output": "[Cause] adoption of new technologies in neuromodulation and neurovascular [Relation] cause [Effect] slightly faster 5.5% average annual revenue growth from the restorative therapies group through fiscal 2024",
    "gold": "[Cause] the addition of the Mazor robot [Relation] enable [Effect] a return to growth of the spine business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast roughly 2.5% average annual organic revenue growth through 2024, driven by opportunities in infrastructure, mining, and energy.",
    "output": "[Cause] opportunities in infrastructure, mining, and energy [Relation] cause [Effect] 2.5% average annual organic revenue growth through 2024",
    "gold": "[Cause] opportunities in infrastructure, mining, and energy [Relation] enable [Effect] 2.5% average annual organic revenue growth through 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, we believe the company's expense ratio had been somewhat elevated, as it has expanded into new lines and geographies.",
    "output": "[Cause] it has expanded into new lines and geographies [Relation] cause [Effect] the company's expense ratio had been somewhat elevated",
    "gold": "[Cause]  it has expanded into new lines and geographies [Relation] cause [Effect]  the company's expense ratio had been somewhat elevated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Beyond applying expected free cash flow generation in 2021 to reducing leverage, we think it should be aggressive in seeking additional ways to further reduce absolute debt.",
    "output": "[Cause] applying expected free cash flow generation in 2021 [Relation] enable [Effect] reducing leverage",
    "gold": "[Cause] applying expected free cash flow generation in 2021 [Relation] enable [Effect] reducing leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the current lack of pricing transparency with significant variations between list and invoice prices and day to day pricing volatility and regulatory compliance and recalls, providers and retail pharmacies do not have the IT infrastructure to quickly manage the available information nor negotiate competitive pricing with manufacturers.",
    "output": "[Cause] the current lack of pricing transparency with significant variations between list and invoice prices and day to day pricing volatility and regulatory compliance and recalls [Relation] cause [Effect] providers and retail pharmacies do not have the IT infrastructure to quickly manage the available information nor negotiate competitive pricing with manufacturers",
    "gold": "[Cause] the current lack of pricing transparency with significant variations between list and invoice prices and day to day pricing volatility and regulatory compliance and recalls [Relation] cause [Effect] providers and retail pharmacies do not have the IT infrastructure to quickly manage the available information nor negotiate competitive pricing with manufacturers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Both segments are exposed to the automotive and energy sectors, which pose some indirect ESG-related risks as the vehicle fleet electrifies.",
    "output": "[Cause] the vehicle fleet electrifies [Relation] cause [Effect] pose some indirect ESG-related risks",
    "gold": "[Cause] the vehicle fleet electrifies [Relation] cause [Effect] pose some indirect ESG-related risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect operating margins to improve significantly from 20% in 2020 on a pro forma basis to 26% by 2025. This improvement comes mainly from cost synergies from the Willis Towers Watson merger and from lower purchase amortization expense over time.",
    "output": "[Cause] cost synergies from the Willis Towers Watson merger and from lower purchase amortization expense over time [Relation] cause [Effect] operating margins to improve significantly from 20% in 2020 on a pro forma basis to 26% by 2025",
    "gold": "[Cause] cost synergies from the Willis Towers Watson merger and from lower purchase amortization expense over time [Relation] cause [Effect] operating margins to improve significantly from 20% in 2020 on a pro forma basis to 26% by 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, a significant portion of sales comes from the wired and wireless segment, which have been historically lumpy and contribute to the cyclical nature of the FPGA space.",
    "output": "[Cause] a significant portion of sales comes from the wired and wireless segment [Relation] cause [Effect] the cyclical nature of the FPGA space",
    "gold": "[Cause] a significant portion of sales comes from the wired and wireless segment [Relation] cause [Effect]  the cyclical nature of the FPGA space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company is large enough to have an established implementation practice within all major consulting companies, which is a competitive point of differentiation and critically important to P&C insurers as they survey the landscape of transforming their own businesses.",
    "output": "[Cause] they survey the landscape of transforming their own businesses [Relation] cause [Effect] The company is large enough to have an established implementation practice within all major consulting companies, which is a competitive point of differentiation and critically important to P&C insurers",
    "gold": "[Cause] The company is large enough to have an established implementation practice within all major consulting companies [Relation] cause [Effect] a competitive point of differentiation and critically important to P&C insurers as they survey the landscape of transforming their own businesses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, networks are crucial to sustaining a network effect because they make data centers more valuable both to each other and to cloud providers, which then draw their own customers.",
    "output": "[Cause] they make data centers more valuable both to each other and to cloud providers [Relation] cause [Effect] networks are crucial to sustaining a network effect",
    "gold": "[Cause]  they make data centers more valuable both to each other and to cloud providers [Relation] cause [Effect]  networks are crucial to sustaining a network effect",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We raised our assumed probability of approval for PD-1 antibody retifanlimab to 60% from 50%, as the drug is poised to gain FDA approval by July for anal cancer and has several ongoing programs in other niche indications and broader markets like lung cancer.",
    "output": "[Cause] the drug is poised to gain FDA approval by July for anal cancer and has several ongoing programs in other niche indications and broader markets like lung cancer [Relation] cause [Effect] We raised our assumed probability of approval for PD-1 antibody retifanlimab to 60% from 50%",
    "gold": "[Cause] the drug is poised to gain FDA approval by July for anal cancer and has several ongoing programs in other niche indications and broader markets like lung cancer [Relation] cause [Effect] We raised our assumed probability of approval for PD-1 antibody retifanlimab to 60% from 50%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also like Toronto-Dominion's positioning as a major discount-brokerage player because we believe this industry is ripe for growth as investors seek out lower-cost alternatives, and the bank could leverage its knowledge of the industry for future growth in Canada.",
    "output": "[Cause] investors seek out lower-cost alternatives [Relation] cause [Effect] this industry is ripe for growth",
    "gold": "[Cause]  investors seek out lower-cost alternatives [Relation] cause [Effect]  this industry is ripe for growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also like Toronto-Dominion's positioning as a major discount-brokerage player because we believe this industry is ripe for growth as investors seek out lower-cost alternatives, and the bank could leverage its knowledge of the industry for future growth in Canada.",
    "output": "[Cause] investors seek out lower-cost alternatives [Relation] cause [Effect] this industry is ripe for growth",
    "gold": "[Cause]  this industry is ripe for growth as investors seek out lower-cost alternatives [Relation] cause [Effect] We also like Toronto-Dominion's positioning as a major discount-brokerage player",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also like Toronto-Dominion's positioning as a major discount-brokerage player because we believe this industry is ripe for growth as investors seek out lower-cost alternatives, and the bank could leverage its knowledge of the industry for future growth in Canada.",
    "output": "[Cause] investors seek out lower-cost alternatives [Relation] cause [Effect] this industry is ripe for growth",
    "gold": "[Cause]  leverage its knowledge of the industry [Relation] enable [Effect]  future growth in Canada",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Since brokers are primarily compensated via commission that varies with productivity, it is likewise important for ambitious employees to work for firms with a strong reputation and a deep network in their desired market.",
    "output": "[Cause] brokers are primarily compensated via commission that varies with productivity [Relation] cause [Effect] it is likewise important for ambitious employees to work for firms with a strong reputation and a deep network in their desired market",
    "gold": "[Cause] brokers are primarily compensated via commission that varies with productivity [Relation] cause [Effect] it is likewise important for ambitious employees to work for firms with a strong reputation and a deep network in their desired market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite these arrangements, the deal left Oxy with significantly higher financial leverage, even before oil prices collapsed at the beginning of 2020. As a result, management is still working on patching up the balance sheet and the firm is still coping with elevated leverage ratios.",
    "output": "[Cause] Despite these arrangements, the deal left Oxy with significantly higher financial leverage, even before oil prices collapsed at the beginning of 2020 [Relation] cause [Effect] management is still working on patching up the balance sheet and the firm is still coping with elevated leverage ratios",
    "gold": "[Cause] Despite these arrangements, the deal left Oxy with significantly higher financial leverage, even before oil prices collapsed at the beginning of 2020 [Relation] cause [Effect] management is still working on patching up the balance sheet and the firm is still coping with elevated leverage ratios",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do not think PTC exhibits a strong network effect given that the company's CAD and PLM software are more specialized than the average product design and product lifecycle offerings.",
    "output": "[Cause] the company's CAD and PLM software are more specialized than the average product design and product lifecycle offerings [Relation] cause [Effect] We do not think PTC exhibits a strong network effect",
    "gold": "[Cause] We do not think PTC exhibits a strong network effect given [Relation] cause [Effect]  the company's CAD and PLM software are more specialized than the average product design and product lifecycle offerings.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe that learning algorithms that analyze consumer purchases over time (online as well as potentially offline through connected stores) could increasingly personalize merchandise and the consumer experience, leading to better sales conversion.",
    "output": "[Cause] learning algorithms that analyze consumer purchases over time (online as well as potentially offline through connected stores) could increasingly personalize merchandise and the consumer experience [Relation] cause [Effect] better sales conversion",
    "gold": "[Cause] analyze consumer purchases over time (online as well as potentially offline through connected stores) could increasingly personalize merchandise and the consumer experience, [Relation] enable [Effect] leading to better sales conversion.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, with asset-management firms like Janus Henderson expected to not only pare back their fees but also spend more to produce better investment results and enhance distribution, we expect adjusted operating margins to hover between 23% and 26% over the remainder of 2020-24.",
    "output": "[Cause] asset-management firms like Janus Henderson expected to not only pare back their fees but also spend more to produce better investment results and enhance distribution [Relation] cause [Effect] adjusted operating margins to hover between 23% and 26% over the remainder of 2020-24",
    "gold": "[Cause] asset-management firms like Janus Henderson expected to not only pare back their fees but also spend more to produce better investment results and enhance distribution [Relation] enable [Effect] adjusted operating margins to hover between 23% and 26% over the remainder of 2020-24",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After a lean decade for residential construction, we expect favorable demographics, a tighter labor market, and relatively loose mortgage availability to catalyze a major improvement in homebuilding activity in the coming decade.",
    "output": "[Cause] favorable demographics, a tighter labor market, and relatively loose mortgage availability [Relation] enable [Effect] catalyze a major improvement in homebuilding activity in the coming decade",
    "gold": "[Cause] favorable demographics, a tighter labor market, and relatively loose mortgage availability [Relation] enable [Effect] catalyze a major improvement in homebuilding activity in the coming decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We model Beyond's market share increasing from 2.0% in 2020 to 8.3% in 2030, as PBMs gain a larger share of the overall meat category, and as Beyond's brand continues to win with consumers, given its strong performance in taste tests and ongoing R&D investments.",
    "output": "[Cause] PBMs gain a larger share of the overall meat category [Relation] cause [Effect] Beyond's market share increasing from 2.0% in 2020 to 8.3% in 2030",
    "gold": "[Cause] its strong performance in taste tests and ongoing R&D investments [Relation] cause [Effect] Beyond's brand continues to win with consumers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We model Beyond's market share increasing from 2.0% in 2020 to 8.3% in 2030, as PBMs gain a larger share of the overall meat category, and as Beyond's brand continues to win with consumers, given its strong performance in taste tests and ongoing R&D investments.",
    "output": "[Cause] PBMs gain a larger share of the overall meat category [Relation] cause [Effect] Beyond's market share increasing from 2.0% in 2020 to 8.3% in 2030",
    "gold": "[Cause] PBMs gain a larger share of the overall meat category [Relation] cause [Effect]  Beyond's market share increasing from 2.0% in 2020 to 8.3% in 2030",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see noninterest income increasing at a compound annual growth rate of roughly 2%. This leads us to expect an average return on tangible equity of roughly 11%-12% for our forecast period, slightly above our the cost of equity of 9%.",
    "output": "[Cause] noninterest income increasing at a compound annual growth rate of roughly 2% [Relation] cause [Effect] an average return on tangible equity of roughly 11%-12% for our forecast period, slightly above our the cost of equity of 9%",
    "gold": "[Cause] noninterest income increasing at a compound annual growth rate of roughly 2% [Relation] enable [Effect]  an average return on tangible equity of roughly 11%-12% for our forecast period, slightly above our the cost of equity of 9%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we are currently assigning all Canadian banks a high uncertainty rating because of COVID-19 and the increasing uncertainty around the economy and potential downside.",
    "output": "[Cause] COVID-19 and the increasing uncertainty around the economy and potential downside [Relation] cause [Effect] assigning all Canadian banks a high uncertainty rating",
    "gold": "[Cause] COVID-19 and the increasing uncertainty around the economy and potential downside [Relation] cause [Effect] assigning all Canadian banks a high uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "BioNTech's methods would allow production in roughly three months, which could increase the reliability of flu strain selection and allow for adjustments as the season progresses, and the mRNA-based process would limit mutations.",
    "output": "[Cause] BioNTech's methods [Relation] enable [Effect] production in roughly three months",
    "gold": "[Cause] BioNTech's methods [Relation] enable [Effect] production in roughly three months",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "BioNTech's methods would allow production in roughly three months, which could increase the reliability of flu strain selection and allow for adjustments as the season progresses, and the mRNA-based process would limit mutations.",
    "output": "[Cause] BioNTech's methods [Relation] enable [Effect] production in roughly three months",
    "gold": "[Cause] BioNTech's methods [Relation] enable [Effect] adjustments as the season progresses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Importantly for its self-funding client base in particular, Cigna already boasts an industry-leading cost trend with a goal to push its commercial cost growth down to or below the consumer price index in the near future.",
    "output": "[Cause] Cigna already boasts an industry-leading cost trend [Relation] enable [Effect] push its commercial cost growth down to or below the consumer price index in the near future",
    "gold": "[Cause] Cigna already boasts an industry-leading cost trend [Relation] cause [Effect] push its commercial cost growth down to or below the consumer price index in the near future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Via the 2019 purchase of Fox Sports Networks, Sinclair is now also the largest owner or operator of regional sports networks with 23.",
    "output": "[Cause] the 2019 purchase of Fox Sports Networks [Relation] cause [Effect] Sinclair is now also the largest owner or operator of regional sports networks with 23",
    "gold": "[Cause] the 2019 purchase of Fox Sports Networks [Relation] cause [Effect] Sinclair is now also the largest owner or operator of regional sports networks with 23",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the delay of movie premieres and theater closures, we believe that theaters will be largely empty until June 2021 in the U.S.",
    "output": "[Cause] the delay of movie premieres and theater closures [Relation] cause [Effect] theaters will be largely empty until June 2021 in the U.S",
    "gold": "[Cause]  the delay of movie premieres and theater closures [Relation] cause [Effect]  theaters will be largely empty until June 2021 in the U.S",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, animal health products are purchased by a fragmented group of protein producers, veterinarians, and pet owners, allowing very little bargaining power over the highly concentrated animal health firms.",
    "output": "[Cause] animal health products are purchased by a fragmented group of protein producers, veterinarians, and pet owners [Relation] cause [Effect] very little bargaining power over the highly concentrated animal health firms",
    "gold": "[Cause] animal health products are purchased by a fragmented group of protein producers, veterinarians, and pet owners [Relation] cause [Effect] very little bargaining power over the highly concentrated animal health firms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "First, the bulk of Edwards' products go through the more rigorous premarket approval process with the Food and Drug Administration, which provides substantial shelter from legal liability from defective products.",
    "output": "[Cause] the bulk of Edwards' products go through the more rigorous premarket approval process with the Food and Drug Administration [Relation] enable [Effect] provides substantial shelter from legal liability from defective products",
    "gold": "[Cause] the bulk of Edwards' products go through the more rigorous premarket approval process with the Food and Drug Administration [Relation] enable [Effect] provides substantial shelter from legal liability from defective products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we believe Hain has historically not been selective but is attempting to maximize revenue by playing in all categories, which we surmise has ultimately harmed revenue growth, given its inadequate brand support.",
    "output": "[Cause] its inadequate brand support [Relation] cause [Effect] ultimately harmed revenue growth",
    "gold": "[Cause]  Hain has historically not been selective but is attempting to maximize revenue by playing in all categories [Relation] cause [Effect] has ultimately harmed revenue growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the vast creation of data and the dispersed nature of network traffic, due to hybrid environments, software-as-a-service applications, and remote access needs create a larger threat surface.",
    "output": "[Cause] hybrid environments, software-as-a-service applications, and remote access needs create a larger threat surface [Relation] cause [Effect] the vast creation of data and the dispersed nature of network traffic",
    "gold": "[Cause] hybrid environments, software-as-a-service applications, and remote access needs create a larger threat surface [Relation] cause [Effect] the vast creation of data and the dispersed nature of network traffic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Barriers to entry are very low for hotels in major metropolitan areas, as cities encourage economic development that revitalizes an area and brings tourism dollars and taxable income to the city.",
    "output": "[Cause] cities encourage economic development that revitalizes an area and brings tourism dollars and taxable income to the city [Relation] cause [Effect] Barriers to entry are very low for hotels in major metropolitan areas",
    "gold": "[Cause]  cities encourage economic development that revitalizes an area and brings tourism dollars and taxable income to the city [Relation] cause [Effect] Barriers to entry are very low for hotels in major metropolitan areas",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While its debt-free capital structure and cost-cutting have allowed the firm to endure the crisis and sales have rebounded strongly, financial performance should be volatile, exacerbated by recessionary pressure on discretionary sales but offset by shoppers' thirst for value.",
    "output": "[Cause] recessionary pressure on discretionary sales [Relation] cause [Effect] financial performance should be volatile",
    "gold": "[Cause] recessionary pressure on discretionary sales [Relation] cause [Effect]  financial performance should be volatile",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While its debt-free capital structure and cost-cutting have allowed the firm to endure the crisis and sales have rebounded strongly, financial performance should be volatile, exacerbated by recessionary pressure on discretionary sales but offset by shoppers' thirst for value.",
    "output": "[Cause] recessionary pressure on discretionary sales [Relation] cause [Effect] financial performance should be volatile",
    "gold": "[Cause] shoppers' thirst for value [Relation] prevent [Effect]  financial performance should be volatile",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While its debt-free capital structure and cost-cutting have allowed the firm to endure the crisis and sales have rebounded strongly, financial performance should be volatile, exacerbated by recessionary pressure on discretionary sales but offset by shoppers' thirst for value.",
    "output": "[Cause] recessionary pressure on discretionary sales [Relation] cause [Effect] financial performance should be volatile",
    "gold": "[Cause] its debt-free capital structure and cost-cutting [Relation] enable [Effect] the firm to endure the crisis and sales have rebounded strongly",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The natural gas distribution utility is renewing infrastructure and making operational improvements to reduce GHGs and also participating in energy efficiency programs for customers.",
    "output": "[Cause] The natural gas distribution utility is renewing infrastructure and making operational improvements [Relation] enable [Effect] reduce GHGs and also participating in energy efficiency programs for customers",
    "gold": "[Cause] to reduce GHGs and also participating in energy efficiency programs for customers [Relation] enable [Effect] The natural gas distribution utility is renewing infrastructure and making operational improvements",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nevertheless, we think JLL is poised to experience long-term growth as it continues to benefit from a buoyant real estate services industry and takes share from smaller, more fragmented competitors.",
    "output": "[Cause] it continues to benefit from a buoyant real estate services industry and takes share from smaller, more fragmented competitors [Relation] cause [Effect] JLL is poised to experience long-term growth",
    "gold": "[Cause] it continues to benefit from a buoyant real estate services industry and takes share from smaller, more fragmented competitors [Relation] enable [Effect] JLL is poised to experience long-term growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The high productivity is largely attributable to the company's geographic mix being weighted more to the United States, which has had a healthier merger and acquisition recovery than the rest of the globe.",
    "output": "[Cause] the company's geographic mix being weighted more to the United States [Relation] cause [Effect] The high productivity",
    "gold": "[Cause]  the company's geographic mix being weighted more to the United States [Relation] cause [Effect] The high productivity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We view the brewing space as quite conducive to these dynamics, though less so than its analogue in the non-alcoholic beverage space, carbonated soft drinks, or CSDs.",
    "output": "[Cause] the brewing space as quite conducive to these dynamics [Relation] cause [Effect] less so than its analogue in the non-alcoholic beverage space, carbonated soft drinks, or CSDs",
    "gold": "[Cause] the brewing space [Relation] enable [Effect] conducive to these dynamics",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Lastly, as Twilio's portfolio of products grows, the firm will find itself competing with larger, more well-established SaaS players.",
    "output": "[Cause] Twilio's portfolio of products grows [Relation] cause [Effect] the firm will find itself competing with larger, more well-established SaaS players",
    "gold": "[Cause] Twilio's portfolio of products grows [Relation] cause [Effect] the firm will find itself competing with larger, more well-established SaaS players",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Alphabet dominates the online search market with Google's global share above 80%, via which it generates strong revenue growth and cash flow.",
    "output": "[Cause] Alphabet dominates the online search market with Google's global share above 80% [Relation] enable [Effect] generates strong revenue growth and cash flow",
    "gold": "[Cause]  it generates strong revenue growth and cash flow [Relation] enable [Effect] Alphabet dominates the online search market with Google's global share above 80%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Despite numerous competitors, the company has established leading market share and spectacular profitability with its convenient, effective, and safe treatments.",
    "output": "[Cause] its convenient, effective, and safe treatments [Relation] enable [Effect] the company has established leading market share and spectacular profitability",
    "gold": "[Cause] its convenient, effective, and safe treatments [Relation] enable [Effect]  the company has established leading market share and spectacular profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Turning to the firm's cost advantage, we believe that McDonald's commanding scale allows it to benefit from volume discounts in food and paper procurement from food distributors, fixed-cost leverage in general and administrative, marketing and technology spending, and lower rates on third-party operator (3PO) platforms.",
    "output": "[Cause] McDonald's commanding scale [Relation] enable [Effect] it to benefit from volume discounts in food and paper procurement from food distributors, fixed-cost leverage in general and administrative, marketing and technology spending, and lower rates on third-party operator (3PO) platforms",
    "gold": "[Cause] the firm's cost advantage [Relation] cause [Effect] McDonald's commanding scale allows it to benefit from volume discounts in food and paper procurement from food distributors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Cyclical downturns in freight demand compress profitability because excess capacity normally drives providers to slash rates in an attempt to salvage asset utilization.",
    "output": "[Cause] excess capacity normally drives providers to slash rates in an attempt to salvage asset utilization [Relation] cause [Effect] Cyclical downturns in freight demand compress profitability",
    "gold": "[Cause]  excess capacity normally drives providers to slash rates in an attempt to salvage asset utilization [Relation] cause [Effect] Cyclical downturns in freight demand compress profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the high costs associated with chip design, it is essential for the chip design process to be error-free and have chips function as intended.",
    "output": "[Cause] the high costs associated with chip design [Relation] cause [Effect] it is essential for the chip design process to be error-free and have chips function as intended",
    "gold": "[Cause]  the high costs associated with chip design [Relation] cause [Effect] it is essential for the chip design process to be error-free and have chips function as intended",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But a bounceback this year, with industry participants stating that volumes have steadily and significantly improved from April lows, and the pandemic could ultimately accelerate the ongoing shift toward electronic payments.",
    "output": "[Cause] the pandemic [Relation] enable [Effect] accelerate the ongoing shift toward electronic payments",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] accelerate the ongoing shift toward electronic payments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These moves align well with management's strategy to focus on developing innovative and proprietary products to continue driving aftermarket sales from replacement parts.",
    "output": "[Cause] focus on developing innovative and proprietary products [Relation] enable [Effect] continue driving aftermarket sales from replacement parts",
    "gold": "[Cause] focus on developing innovative and proprietary products [Relation] cause [Effect] continue driving aftermarket sales from replacement parts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While this effort has enhanced Vodafone's ability to offer converged services, the wireless market is becoming more competitive with the recent entrance of Iliad.",
    "output": "[Cause] the recent entrance of Iliad [Relation] cause [Effect] the wireless market is becoming more competitive",
    "gold": "[Cause] this effort [Relation] enable [Effect] enhanced Vodafone's ability to offer converged services",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While this effort has enhanced Vodafone's ability to offer converged services, the wireless market is becoming more competitive with the recent entrance of Iliad.",
    "output": "[Cause] the recent entrance of Iliad [Relation] cause [Effect] the wireless market is becoming more competitive",
    "gold": "[Cause] the recent entrance of Iliad [Relation] enable [Effect] the wireless market is becoming more competitive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Consequently, Intel has built a broad accelerator portfolio via the acquisition of Altera for FPGAs, Mobileye for computer vision chips used in cars, and Habana Labs for AI chips.",
    "output": "[Cause] the acquisition of Altera for FPGAs, Mobileye for computer vision chips used in cars, and Habana Labs for AI chips [Relation] cause [Effect] Intel has built a broad accelerator portfolio",
    "gold": "[Cause]  Intel has built a broad accelerator portfolio [Relation] enable [Effect]  the acquisition of Altera for FPGAs, Mobileye for computer vision chips used in cars, and Habana Labs for AI chips",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, the firm is installing a new enterprise resource planning system to help manage accounting, procurement, project management and supply chain operations.",
    "output": "[Cause] the firm is installing a new enterprise resource planning system [Relation] enable [Effect] help manage accounting, procurement, project management and supply chain operations",
    "gold": "[Cause] manage accounting, procurement, project management and supply chain operations [Relation] enable [Effect] the firm is installing a new enterprise resource planning system",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With recent concerns around ethylene oxide, or EtO, sterilization, there is a risk that regulators could ban or limit the use of EtO, which accounts for about half of device sterilization.",
    "output": "[Cause] recent concerns around ethylene oxide, or EtO, sterilization [Relation] cause [Effect] regulators could ban or limit the use of EtO",
    "gold": "[Cause] recent concerns around ethylene oxide, or EtO, sterilization [Relation] cause [Effect] regulators could ban or limit the use of EtO",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Landstar's captive owner-operators (who pay their own operating expenses) benefit further from the ability to choose their own loads because the company does not force dispatch.",
    "output": "[Cause] the company does not force dispatch [Relation] cause [Effect] Landstar's captive owner-operators (who pay their own operating expenses) benefit further from the ability to choose their own loads",
    "gold": "[Cause]  the company does not force dispatch [Relation] cause [Effect] Landstar's captive owner-operators (who pay their own operating expenses) benefit further from the ability to choose their own loads",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If we assume that growth occurs at a low-single-digit pace (3% for the industry) then North American players should be set to take share, as product launches could come more quickly in order to remain differentiated if Japanese peers fail to invest in the sector.",
    "output": "[Cause] product launches could come more quickly in order to remain differentiated if Japanese peers fail to invest in the sector [Relation] cause [Effect] North American players should be set to take share",
    "gold": "[Cause]  growth occurs at a low-single-digit pace (3% for the industry) | remain differentiated if Japanese peers fail to invest in the sector [Relation] cause [Effect] American players should be set to take share | product launches could come more quickly",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As one of the leading manufacturers of energy-efficient light commercial and residential HVAC products, the firm has long been focused on sustainability, and based on its recent product strategy and 2 Jun 2021 05:00, UTCgrowth investments, we believe this focus will continue.",
    "output": "[Cause] As one of the leading manufacturers of energy-efficient light commercial and residential HVAC products [Relation] cause [Effect] the firm has long been focused on sustainability",
    "gold": "[Cause] As one of the leading manufacturers of energy-efficient light commercial and residential HVAC products [Relation] cause [Effect] the firm has long been focused on sustainability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Willis Tower Watson's largest cost component by far is employee compensation, which could lead to pressure on margins if labor conditions grew tight and any large-scale employee defections could damage the business.",
    "output": "[Cause] labor conditions grew tight and any large-scale employee defections could damage the business [Relation] cause [Effect] pressure on margins",
    "gold": "[Cause] large-scale employee defections [Relation] cause [Effect] damage the business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While Bristol discovered the drug internally, we like its strategic partnering decisions, as the moves reduce risks and lower development and marketing costs.",
    "output": "[Cause] the moves reduce risks and lower development and marketing costs [Relation] cause [Effect] we like its strategic partnering decisions",
    "gold": "[Cause]  the moves reduce risks and lower development and marketing costs [Relation] cause [Effect] we like its strategic partnering decisions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe TAL Education can maintain its leading position and faster revenue growth in China thanks to its brand and reputation.",
    "output": "[Cause] its brand and reputation [Relation] enable [Effect] TAL Education can maintain its leading position and faster revenue growth in China",
    "gold": "[Cause] its brand and reputation [Relation] enable [Effect] TAL Education can maintain its leading position and faster revenue growth in China",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And the triple-net lease structure reduces the burden of management for the landlord, increasing the number of potential investors in the space.",
    "output": "[Cause] the triple-net lease structure [Relation] enable [Effect] increasing the number of potential investors in the space",
    "gold": "[Cause] the triple-net lease structure [Relation] cause [Effect] increasing the number of potential investors in the space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Owing in part to historical legacy, Sinopec's revenue and assets are more heavily weighted toward its downstream activities and the company relies on external sources of oil to meet its refining and processing needs.",
    "output": "[Cause] historical legacy [Relation] cause [Effect] Sinopec's revenue and assets are more heavily weighted toward its downstream activities and the company relies on external sources of oil to meet its refining and processing needs",
    "gold": "[Cause] historical legacy [Relation] cause [Effect] Sinopec's revenue and assets are more heavily weighted toward its downstream activities and the company relies on external sources of oil to meet its refining and processing needs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result of its M&A focus, Fortive continues to add assets and goodwill to its capital base, which constrains growth in returns on invested capital.",
    "output": "[Cause] Fortive continues to add assets and goodwill to its capital base [Relation] prevent [Effect] growth in returns on invested capital",
    "gold": "[Cause] Fortive continues to add assets and goodwill to its capital base [Relation] prevent [Effect] growth in returns on invested capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Recurring revenue now makes up roughly 50% of Nasdaq total revenue and will likely continue to increase, as the company's acquisition of Verafin and its sale of its fixed-income trading business to Tradeweb continues to push the firm toward its end goal of being a diversified technology company.",
    "output": "[Cause] the company's acquisition of Verafin and its sale of its fixed-income trading business to Tradeweb continues to push the firm toward its end goal of being a diversified technology company [Relation] cause [Effect] Recurring revenue now makes up roughly 50% of Nasdaq total revenue and will likely continue to increase",
    "gold": "[Cause] the company's acquisition of Verafin and its sale of its fixed-income trading business to Tradeweb [Relation] enable [Effect] push the firm toward its end goal of being a diversified technology company",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, we think new emission regulation will likely be introduced gradually over the next decade. This will give CNH Industrial time to continue evolving the sustainability of its products and reducing its impact on the environment.",
    "output": "[Cause] new emission regulation will likely be introduced gradually over the next decade [Relation] enable [Effect] give CNH Industrial time to continue evolving the sustainability of its products and reducing its impact on the environment",
    "gold": "[Cause] new emission regulation will likely be introduced gradually over the next decade [Relation] cause [Effect] give CNH Industrial time to continue evolving the sustainability of its products and reducing its impact on the environment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also model operating margins increasing steadily from 37% in fiscal 2020 (actual) to approximately 42% in fiscal 2025, driven by improvements in gross margin as Azure continues to scale as well as some operating leverage.",
    "output": "[Cause] Azure continues to scale as well as some operating leverage [Relation] cause [Effect] improvements in gross margin",
    "gold": "[Cause] Azure continues to scale as well as some operating leverage [Relation] cause [Effect] improvements in gross margin",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also model operating margins increasing steadily from 37% in fiscal 2020 (actual) to approximately 42% in fiscal 2025, driven by improvements in gross margin as Azure continues to scale as well as some operating leverage.",
    "output": "[Cause] improvements in gross margin [Relation] cause [Effect] operating margins increasing steadily from 37% in fiscal 2020 (actual) to approximately 42% in fiscal 2025",
    "gold": "[Cause] improvements in gross margin [Relation] cause [Effect] operating margins increasing steadily from 37% in fiscal 2020 (actual) to approximately 42% in fiscal 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If future changes to the ACA cause healthcare subsectors that Welltower invests in to fall out of favor, then the performance and asset values of Welltower's portfolio will suffer.",
    "output": "[Cause] future changes to the ACA [Relation] cause [Effect] healthcare subsectors that Welltower invests in to fall out of favor",
    "gold": "[Cause] future changes to the ACA [Relation] cause [Effect] healthcare subsectors that Welltower invests in to fall out of favor",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Once in the street, fixed field costs such as technician labor costs and vehicle costs (leasing) represent close to 70% of the total cost structure of the service business, so reaching scale and service density becomes critical to benefit from operating leverage.",
    "output": "[Cause] fixed field costs such as technician labor costs and vehicle costs (leasing) represent close to 70% of the total cost structure of the service business [Relation] cause [Effect] reaching scale and service density becomes critical to benefit from operating leverage",
    "gold": "[Cause] fixed field costs such as technician labor costs and vehicle costs (leasing) represent close to 70% of the total cost structure of the service business [Relation] cause [Effect] reaching scale and service density becomes critical to benefit from operating leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From a market perspective, North American gas has to remain viable on an economic basis for Cheniere to benefit from increased LNG demand.",
    "output": "[Cause] North American gas has to remain viable on an economic basis [Relation] enable [Effect] Cheniere to benefit from increased LNG demand",
    "gold": "[Cause] North American gas has to remain viable on an economic basis [Relation] enable [Effect] Cheniere to benefit from increased LNG demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This also represented a permanent downward shift in the cost curve as well and led to the revision of our midcycle price to $60/bbl.",
    "output": "[Cause] a permanent downward shift in the cost curve [Relation] cause [Effect] the revision of our midcycle price to $60/bbl",
    "gold": "[Cause]  a permanent downward shift in the cost curve [Relation] cause [Effect] the revision of our midcycle price to $60/bbl",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In recent years, supply has increased considerably as the industry becomes increasingly crowded, driven by the simple development process relative to other real estate subsectors and short one-year lead time required to add new supply to most markets.",
    "output": "[Cause] the industry becomes increasingly crowded [Relation] cause [Effect] supply has increased considerably",
    "gold": "[Cause]  the industry becomes increasingly crowded [Relation] cause [Effect] supply has increased considerably",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In recent years, supply has increased considerably as the industry becomes increasingly crowded, driven by the simple development process relative to other real estate subsectors and short one-year lead time required to add new supply to most markets.",
    "output": "[Cause] the industry becomes increasingly crowded [Relation] cause [Effect] supply has increased considerably",
    "gold": "[Cause] supply has increased considerably [Relation] cause [Effect] the simple development process relative to other real estate subsectors and short one-year lead time required to add new supply to most markets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think Adient's cost advantage has the potential to improve as the firm moves certain production, such as metals, to low-cost countries such as China and Mexico from high-cost countries in North America and Europe.",
    "output": "[Cause] the firm moves certain production, such as metals, to low-cost countries such as China and Mexico from high-cost countries in North America and Europe [Relation] cause [Effect] Adient's cost advantage has the potential to improve",
    "gold": "[Cause]  the firm moves certain production, such as metals, to low-cost countries such as China and Mexico from high-cost countries in North America and Europe [Relation] cause [Effect] Adient's cost advantage has the potential to improve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Or, as we suspect was the case in the C-band auction, the threat of entry could drive up the prices Verizon feels compelled to pay.",
    "output": "[Cause] the threat of entry [Relation] cause [Effect] drive up the prices Verizon feels compelled to pay",
    "gold": "[Cause] the threat of entry [Relation] enable [Effect] drive up the prices Verizon feels compelled to pay",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company acts as an advisor and insurance and reinsurance broker, helping clients manage their risk by negotiating and placing their insurance risk with insurance carriers through a global distribution network.",
    "output": "[Cause] The company acts as an advisor and insurance and reinsurance broker [Relation] enable [Effect] helping clients manage their risk by negotiating and placing their insurance risk with insurance carriers through a global distribution network",
    "gold": "[Cause] negotiating and placing their insurance risk with insurance carriers through a global distribution network [Relation] enable [Effect] acts as an advisor and insurance and reinsurance broker, helping clients manage their risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Longer term, we anticipate increased raw material demand in faster-growing emerging markets will keep upward pressure on commodity costs, and as such, may plague the firm.",
    "output": "[Cause] increased raw material demand in faster-growing emerging markets will keep upward pressure on commodity costs [Relation] cause [Effect] plague the firm",
    "gold": "[Cause] increased raw material demand in faster-growing emerging markets [Relation] enable [Effect] keep upward pressure on commodity costs | may plague the firm",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Outsize growth at YouTube should stem from its impressive reach and frequency, plus its video-only content format, which is attractive to brand advertisers.",
    "output": "[Cause] its impressive reach and frequency, plus its video-only content format [Relation] enable [Effect] Outsize growth at YouTube",
    "gold": "[Cause] its impressive reach and frequency, plus its video-only content format [Relation] enable [Effect] Outsize growth at YouTube",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Population growth and household formation growth both directly lead to demand for more housing stock, which support high occupancies for a residential portfolio.",
    "output": "[Cause] Population growth and household formation growth [Relation] cause [Effect] demand for more housing stock",
    "gold": "[Cause] Population growth and household formation growth [Relation] cause [Effect] demand for more housing stock",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Population growth and household formation growth both directly lead to demand for more housing stock, which support high occupancies for a residential portfolio.",
    "output": "[Cause] Population growth and household formation growth [Relation] cause [Effect] demand for more housing stock",
    "gold": "[Cause] demand for more housing stock [Relation] enable [Effect] high occupancies for a residential portfolio",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the near term, we assume Anthem's medical membership stays flat in 2020, or a 4% drop from the end of June, as recent layoffs eventually lead to sustained health benefit losses.",
    "output": "[Cause] recent layoffs [Relation] cause [Effect] sustained health benefit losses",
    "gold": "[Cause] sustained health benefit losses [Relation] cause [Effect] Anthem's medical membership stays flat in 2020, or a 4% drop from the end of June",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the near term, we assume Anthem's medical membership stays flat in 2020, or a 4% drop from the end of June, as recent layoffs eventually lead to sustained health benefit losses.",
    "output": "[Cause] recent layoffs [Relation] cause [Effect] sustained health benefit losses",
    "gold": "[Cause] recent layoffs [Relation] cause [Effect] sustained health benefit losses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite the availability of its branches, Capital One still competes with online banks for deposits, which means they need to offer competitive interest rates to their depositors. This leads Capital One to have a high cost of funding from its interest-bearing deposit base relative to more traditional banks.",
    "output": "[Cause] Despite the availability of its branches, Capital One still competes with online banks for deposits, which means they need to offer competitive interest rates to their depositors [Relation] cause [Effect] Capital One to have a high cost of funding from its interest-bearing deposit base relative to more traditional banks",
    "gold": "[Cause] Despite the availability of its branches, Capital One still competes with online banks for deposits, which means they need to offer competitive interest rates to their depositors [Relation] cause [Effect] Capital One to have a high cost of funding from its interest-bearing deposit base relative to more traditional banks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast net charge-offs will normalize at roughly 0.6% of loans over the long run, and in the short run we expect material reserve releases as the economy recovers and most businesses and consumers emerge intact.",
    "output": "[Cause] the economy recovers and most businesses and consumers emerge intact [Relation] cause [Effect] material reserve releases",
    "gold": "[Cause]  the economy recovers and most businesses and consumers emerge intact [Relation] enable [Effect] material reserve releases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Tenants often require custom-built laboratories and research office space for their specialized field of research, so there are significant switching costs to the tenant during the lease term, increasing the chance of tenant retention upon the lease's maturity.",
    "output": "[Cause] Tenants often require custom-built laboratories and research office space for their specialized field of research [Relation] cause [Effect] there are significant switching costs to the tenant during the lease term",
    "gold": "[Cause] Tenants often require custom-built laboratories and research office space for their specialized field of research [Relation] cause [Effect] there are significant switching costs to the tenant during the lease term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Tenants often require custom-built laboratories and research office space for their specialized field of research, so there are significant switching costs to the tenant during the lease term, increasing the chance of tenant retention upon the lease's maturity.",
    "output": "[Cause] Tenants often require custom-built laboratories and research office space for their specialized field of research [Relation] cause [Effect] there are significant switching costs to the tenant during the lease term, increasing the chance of tenant retention upon the lease's maturity",
    "gold": "[Cause] there are significant switching costs to the tenant during the lease term [Relation] enable [Effect] increasing the chance of tenant retention upon the lease's maturity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Between 2021 and 2025, we assume the firm can post organic top-line expansion of about 4% as the economy normalizes and residential housing construction remains strong.",
    "output": "[Cause] the economy normalizes and residential housing construction remains strong [Relation] cause [Effect] the firm can post organic top-line expansion of about 4%",
    "gold": "[Cause] the economy normalizes and residential housing construction remains strong [Relation] enable [Effect] the firm can post organic top-line expansion of about 4%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite appreciable headwinds in about 40% of Honeywell's portfolio from the pandemic, in some ways, we believe COVID has only accelerated the need for automation, particularly in warehousing given the strong secular trend toward e-commerce.",
    "output": "[Cause] the strong secular trend toward e-commerce [Relation] cause [Effect] COVID has only accelerated the need for automation",
    "gold": "[Cause]  the strong secular trend toward e-commerce [Relation] cause [Effect] COVID has only accelerated the need for automation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, platforms can be a preferred channel over wholesale online partners for brands, due to better economics (brand margin is higher versus wholesale channel, even after Farfetch's hefty cut), and since control over pricing is retained.",
    "output": "[Cause] better economics (brand margin is higher versus wholesale channel, even after Farfetch's hefty cut), and since control over pricing is retained [Relation] cause [Effect] platforms can be a preferred channel over wholesale online partners for brands",
    "gold": "[Cause] better economics (brand margin is higher versus wholesale channel, even after Farfetch's hefty cut), and since control over pricing is retained [Relation] cause [Effect] platforms can be a preferred channel over wholesale online partners for brands",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although Echo's variable-cost model provides a partial buffer for profitability, the company is not immune to cyclical downturns--when economic conditions deteriorate, gross revenue trends will reflect declining load volume and soft pricing for transactional and contractual accounts.",
    "output": "[Cause] economic conditions deteriorate [Relation] cause [Effect] gross revenue trends will reflect declining load volume and soft pricing for transactional and contractual accounts",
    "gold": "[Cause] economic conditions deteriorate, gross revenue trends will reflect declining load volume and soft pricing for transactional and contractual accounts [Relation] cause [Effect] the company is not immune to cyclical downturns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also believe the high cost of failure associated with switching away from Caterpillar's products increases the likelihood of elevated projects costs, ultimately cutting into a customer's profitability.",
    "output": "[Cause] the high cost of failure associated with switching away from Caterpillar's products [Relation] cause [Effect] increases the likelihood of elevated projects costs",
    "gold": "[Cause] the high cost of failure associated with switching away from Caterpillar's products [Relation] enable [Effect] increases the likelihood of elevated projects costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also believe the high cost of failure associated with switching away from Caterpillar's products increases the likelihood of elevated projects costs, ultimately cutting into a customer's profitability.",
    "output": "[Cause] the high cost of failure associated with switching away from Caterpillar's products [Relation] cause [Effect] increases the likelihood of elevated projects costs",
    "gold": "[Cause] increases the likelihood of elevated projects costs [Relation] cause [Effect] ultimately cutting into a customer's profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, demand for Centene's exchange-related plans could rise, as well, as the government increases financial incentives to use the exchanges and opens up the enrollment period during the pandemic.",
    "output": "[Cause] the government increases financial incentives to use the exchanges and opens up the enrollment period during the pandemic [Relation] cause [Effect] demand for Centene's exchange-related plans could rise",
    "gold": "[Cause]  the government increases financial incentives to use the exchanges and opens up the enrollment period during the pandemic [Relation] cause [Effect] demand for Centene's exchange-related plans could rise",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Beyond the PR and development issues, excessive crunch could lead to high levels of turnover with the resultant loss of institutional knowledge along with time and money spent hiring and training replacements.",
    "output": "[Cause] excessive crunch [Relation] cause [Effect] high levels of turnover",
    "gold": "[Cause] excessive crunch [Relation] cause [Effect] time and money spent hiring and training replacements",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the firm can leverage this device dominance through its expanding suite of service offerings for public safety command centers, such as computer-aided dispatch and analytics, to be an even more integral component of the public safety landscape.",
    "output": "[Cause] its expanding suite of service offerings for public safety command centers, such as computer-aided dispatch and analytics [Relation] enable [Effect] the firm can leverage this device dominance",
    "gold": "[Cause]  the firm can leverage this device dominance through its expanding suite of service offerings for public safety command centers [Relation] cause [Effect] to be an even more integral component of the public safety landscape",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As a result of the low-cost but impulse-friendly nature of the assortment, Dollar Tree stores mostly attract low- to middle-income consumers to its generally suburban locations.",
    "output": "[Cause] the low-cost but impulse-friendly nature of the assortment [Relation] cause [Effect] Dollar Tree stores mostly attract low- to middle-income consumers to its generally suburban locations",
    "gold": "[Cause] the low-cost but impulse-friendly nature of the assortment [Relation] cause [Effect] Dollar Tree stores mostly attract low- to middle-income consumers to its generally suburban locations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The economic downturn that started in 2019 and was amplified by the carnivores caused the EBITDA margin to fall to 12.6% in 2020, which was even lower than the global financial crisis in 2009.",
    "output": "[Cause] The economic downturn that started in 2019 and was amplified by the carnivores [Relation] cause [Effect] the EBITDA margin to fall to 12.6% in 2020",
    "gold": "[Cause] The economic downturn that started in 2019 and was amplified by the carnivores [Relation] cause [Effect] the EBITDA margin to fall to 12.6% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the rail can avoid bringing assets back on a 1-for-1 basis as demand recovers, driving positive operating leverage.",
    "output": "[Cause] demand recovers [Relation] cause [Effect] the rail can avoid bringing assets back on a 1-for-1 basis",
    "gold": "[Cause] the rail can avoid bringing assets back on a 1-for-1 basis [Relation] enable [Effect] positive operating leverage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Motorcycles, snowmobiles, and ATVs are all big-ticket items, and a widespread slowdown in the global economic environment could hamper the replacement and adoption rates of these products.",
    "output": "[Cause] a widespread slowdown in the global economic environment [Relation] prevent [Effect] the replacement and adoption rates of these products",
    "gold": "[Cause] a widespread slowdown in the global economic environment [Relation] prevent [Effect]  the replacement and adoption rates of these products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect high-single-digit growth in utility earnings over the next five years, driven in large part by grid investment at DTE Electric and replacing aging infrastructure at DTE Gas.",
    "output": "[Cause] grid investment at DTE Electric and replacing aging infrastructure at DTE Gas [Relation] cause [Effect] high-single-digit growth in utility earnings over the next five years",
    "gold": "[Cause] grid investment at DTE Electric and replacing aging infrastructure at DTE Gas [Relation] enable [Effect] high-single-digit growth in utility earnings over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Undoubtedly, some of these retailers will go out of business, which in addition to affecting growth would probably result in higher charge-offs as customers frequently forget to pay off credit cards on stores that no longer exist.",
    "output": "[Cause] some of these retailers will go out of business [Relation] cause [Effect] higher charge-offs",
    "gold": "[Cause] some of these retailers will go out of business [Relation] cause [Effect] affecting growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Undoubtedly, some of these retailers will go out of business, which in addition to affecting growth would probably result in higher charge-offs as customers frequently forget to pay off credit cards on stores that no longer exist.",
    "output": "[Cause] customers frequently forget to pay off credit cards on stores that no longer exist [Relation] cause [Effect] higher charge-offs",
    "gold": "[Cause] customers frequently forget to pay off credit cards on stores that no longer exist [Relation] cause [Effect] higher charge-offs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Undoubtedly, some of these retailers will go out of business, which in addition to affecting growth would probably result in higher charge-offs as customers frequently forget to pay off credit cards on stores that no longer exist.",
    "output": "[Cause] customers frequently forget to pay off credit cards on stores that no longer exist [Relation] cause [Effect] higher charge-offs",
    "gold": "[Cause] some of these retailers will go out of business [Relation] cause [Effect] customers frequently forget to pay off credit cards on stores that no longer exist",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we believe Norwegian could generate average ROICs including goodwill (8%) below our weighted average cost of capital over the next decade, hindered by the secular fall out stemming from COVID-19.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] the secular fall out",
    "gold": "[Cause]  the secular fall out stemming from COVID-19 [Relation] prevent [Effect] Norwegian could generate average ROICs including goodwill (8%) below our weighted average cost of capital over the next decade",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we believe Norwegian could generate average ROICs including goodwill (8%) below our weighted average cost of capital over the next decade, hindered by the secular fall out stemming from COVID-19.",
    "output": "[Cause] COVID-19 [Relation] prevent [Effect] the secular fall out",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] the secular fall out",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The cyclical industry in which Intel operates could cause its profitability to fluctuate regardless of how successful it is in tailoring its chips to new markets.",
    "output": "[Cause] The cyclical industry in which Intel operates [Relation] cause [Effect] its profitability to fluctuate",
    "gold": "[Cause] The cyclical industry in which Intel operates [Relation] cause [Effect]  its profitability to fluctuate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Looking ahead, we think Palo Alto's nascent threat-prevention solutions will provide robust growth along with a significantly improved margin profile.",
    "output": "[Cause] Palo Alto's nascent threat-prevention solutions [Relation] enable [Effect] provide robust growth along with a significantly improved margin profile",
    "gold": "[Cause] Palo Alto's nascent threat-prevention solutions [Relation] cause [Effect] provide robust growth along with a significantly improved margin profile",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, switching costs provide Digital Realty's biggest competitive advantage, as there are numerous reasons tenants are unlikely to churn to a competitor, namely the significant monetary costs to deploy equipment and the risk in moving critical equipment.",
    "output": "[Cause] tenants are unlikely to churn to a competitor [Relation] cause [Effect] switching costs provide Digital Realty's biggest competitive advantage",
    "gold": "[Cause] he significant monetary costs to deploy equipment [Relation] prevent [Effect]  tenants are unlikely to churn to a competitor",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, switching costs provide Digital Realty's biggest competitive advantage, as there are numerous reasons tenants are unlikely to churn to a competitor, namely the significant monetary costs to deploy equipment and the risk in moving critical equipment.",
    "output": "[Cause] tenants are unlikely to churn to a competitor [Relation] cause [Effect] switching costs provide Digital Realty's biggest competitive advantage",
    "gold": "[Cause] the risk in moving critical equipment [Relation] prevent [Effect]  tenants are unlikely to churn to a competitor",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, switching costs provide Digital Realty's biggest competitive advantage, as there are numerous reasons tenants are unlikely to churn to a competitor, namely the significant monetary costs to deploy equipment and the risk in moving critical equipment.",
    "output": "[Cause] tenants are unlikely to churn to a competitor [Relation] cause [Effect] switching costs provide Digital Realty's biggest competitive advantage",
    "gold": "[Cause]  tenants are unlikely to churn to a competitor [Relation] enable [Effect] switching costs provide Digital Realty's biggest competitive advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Like its larger rivals, MPS also benefits from high customer switching costs once its chips are designed into end products, especially in end markets with long product life cycles.",
    "output": "[Cause] its chips are designed into end products, especially in end markets with long product life cycles [Relation] cause [Effect] MPS also benefits from high customer switching costs",
    "gold": "[Cause]  its chips are designed into end products, especially in end markets with long product life cycles [Relation] enable [Effect]  MPS also benefits from high customer switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Alongside this, businesses would have to spend more time training relevant personnel on how to utilize the new system, hampering productivity.",
    "output": "[Cause] businesses would have to spend more time training relevant personnel on how to utilize the new system [Relation] prevent [Effect] productivity",
    "gold": "[Cause]  how to utilize the new system, hampering productivity [Relation] cause [Effect] businesses would have to spend more time training relevant personnel",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As these businesses scale, we expect operating margins will increase from low and midsingle digits to high single digits over the next decade.",
    "output": "[Cause] these businesses scale [Relation] cause [Effect] operating margins will increase from low and midsingle digits to high single digits over the next decade",
    "gold": "[Cause] these businesses scale [Relation] enable [Effect] operating margins will increase from low and midsingle digits to high single digits over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "China's transition from an investment-led to a consumption-led economic growth model will lead to lower fixed asset investment growth, in turn damping aluminum demand.",
    "output": "[Cause] China's transition from an investment-led to a consumption-led economic growth model [Relation] cause [Effect] lower fixed asset investment growth, in turn damping aluminum demand",
    "gold": "[Cause] China's transition from an investment-led to a consumption-led economic growth model [Relation] cause [Effect] lower fixed asset investment growth, in turn damping aluminum demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, industry barriers to entry are relatively low--evidenced by integrated oils ability to enter a segment historically dominated by utilities, not to mention firms like Tesla in distributed generation--and available competitive advantages limited, which is likely to result in more competitors entering the market.",
    "output": "[Cause] industry barriers to entry are relatively low [Relation] cause [Effect] more competitors entering the market",
    "gold": "[Cause]  available competitive advantages limited [Relation] cause [Effect]  more competitors entering the market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, industry barriers to entry are relatively low--evidenced by integrated oils ability to enter a segment historically dominated by utilities, not to mention firms like Tesla in distributed generation--and available competitive advantages limited, which is likely to result in more competitors entering the market.",
    "output": "[Cause] available competitive advantages limited [Relation] cause [Effect] more competitors entering the market",
    "gold": "[Cause]  industry barriers to entry are relatively low [Relation] cause [Effect]  more competitors entering the market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While its Macy's and Bloomingdale's brands are very well-known in the U.S., intense competition from both e-commerce and discount retailers has reduced mall traffic and eroded profit margins on many products sold in department stores.",
    "output": "[Cause] intense competition from both e-commerce and discount retailers [Relation] cause [Effect] reduced mall traffic and eroded profit margins on many products sold in department stores",
    "gold": "[Cause] intense competition from both e-commerce and discount retailers [Relation] prevent [Effect]  profit margins on many products sold in department stores.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The breadth of the firm's portfolio, spanning a variety of snacks and beverages, also begets synergies in distribution that support its cost advantage, in our view.",
    "output": "[Cause] The breadth of the firm's portfolio, spanning a variety of snacks and beverages, also begets synergies in distribution [Relation] enable [Effect] support its cost advantage",
    "gold": "[Cause] The breadth of the firm's portfolio, spanning a variety of snacks and beverages, also begets synergies in distribution [Relation] enable [Effect]  support its cost advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the degree of consolidation in the global confectionery arena over the last several years, Hershey may feel compelled to take part by pursuing a deal of its own, which could add risk to operations if it extends the firm beyond its core competencies.",
    "output": "[Cause] the degree of consolidation in the global confectionery arena over the last several years [Relation] cause [Effect] Hershey may feel compelled to take part by pursuing a deal of its own",
    "gold": "[Cause] it extends the firm beyond its core competencies [Relation] cause [Effect] add risk to operations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the degree of consolidation in the global confectionery arena over the last several years, Hershey may feel compelled to take part by pursuing a deal of its own, which could add risk to operations if it extends the firm beyond its core competencies.",
    "output": "[Cause] it extends the firm beyond its core competencies [Relation] cause [Effect] add risk to operations",
    "gold": "[Cause] the degree of consolidation in the global confectionery arena over the last several years [Relation] cause [Effect] Hershey may feel compelled to take part by pursuing a deal of its own",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, considering Crane's leading market share in relatively small niche markets, we think new entrants would struggle to match Crane's scale and cost efficiency to compete effectively.",
    "output": "[Cause] Crane's leading market share in relatively small niche markets [Relation] cause [Effect] new entrants would struggle to match Crane's scale and cost efficiency to compete effectively",
    "gold": "[Cause] Crane's leading market share in relatively small niche markets [Relation] cause [Effect] new entrants would struggle to match Crane's scale and cost efficiency to compete effectively",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Currently, this is damaging to Credit Suisse's net interest income--it needs to invest its excess liquidity in short-term risk-free assets that currently pays no or negative interest.",
    "output": "[Cause] it needs to invest its excess liquidity in short-term risk-free assets that currently pays no or negative interest [Relation] cause [Effect] this is damaging to Credit Suisse's net interest income",
    "gold": "[Cause] it needs to invest its excess liquidity in short-term risk-free assets that currently pays no or negative interest [Relation] cause [Effect]  this is damaging to Credit Suisse's net interest income",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management's efforts to control costs, and discipline around marketing efforts, should enable margins to trend higher over the next few years.",
    "output": "[Cause] Management's efforts to control costs, and discipline around marketing efforts [Relation] enable [Effect] margins to trend higher over the next few years",
    "gold": "[Cause] Management's efforts to control costs, and discipline around marketing efforts [Relation] enable [Effect] margins to trend higher over the next few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "An asset manager may prefer to be indexed against the Russell 1000, but if asset owners and consultants prefer the S&P 500, the asset manager would risk outflows.",
    "output": "[Cause] asset owners and consultants prefer the S&P 500 [Relation] cause [Effect] the asset manager would risk outflows",
    "gold": "[Cause] asset owners and consultants prefer the S&P 500 [Relation] prevent [Effect] the asset manager would risk outflows",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, Celanese sells products used in electronics and ''''Internet of Things'''' technologies, which provides another area of growth for the company.",
    "output": "[Cause] Celanese sells products used in electronics and '''Internet of Things''' technologies [Relation] enable [Effect] provides another area of growth for the company",
    "gold": "[Cause]  Celanese sells products used in electronics and ''''Internet of Things'''' technologies [Relation] enable [Effect]  provides another area of growth for the company",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Merger synergies should fuel Keurig Dr Pepper's strategic initiatives, with management on its way to $600 million in cost savings (5%-6% of sales) by 2021 through consolidated distribution, procurement leverage, and administrative streamlining.",
    "output": "[Cause] Merger synergies [Relation] enable [Effect] fuel Keurig Dr Pepper's strategic initiatives",
    "gold": "[Cause] Merger synergies [Relation] enable [Effect] fuel Keurig Dr Pepper's strategic initiatives",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Merger synergies should fuel Keurig Dr Pepper's strategic initiatives, with management on its way to $600 million in cost savings (5%-6% of sales) by 2021 through consolidated distribution, procurement leverage, and administrative streamlining.",
    "output": "[Cause] consolidated distribution, procurement leverage, and administrative streamlining [Relation] enable [Effect] $600 million in cost savings (5%-6% of sales) by 2021",
    "gold": "[Cause] consolidated distribution, procurement leverage, and administrative streamlining [Relation] enable [Effect]  $600 million in cost savings (5%-6% of sales) by 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see the net charge-off ratio normalizing to 0.3% as Cullen/Frost increases the overall mix of its loans coming from consumer lending.",
    "output": "[Cause] Cullen/Frost increases the overall mix of its loans coming from consumer lending [Relation] cause [Effect] the net charge-off ratio normalizing to 0.3%",
    "gold": "[Cause] Cullen/Frost increases the overall mix of its loans coming from consumer lending [Relation] cause [Effect] the net charge-off ratio normalizing to 0.3%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The global nature of the market means that Cheniere has to compete on new greenfield and brownfield capital costs, availability and cost of gas, and transportation costs.",
    "output": "[Cause] The global nature of the market [Relation] cause [Effect] Cheniere has to compete on new greenfield and brownfield capital costs, availability and cost of gas, and transportation costs",
    "gold": "[Cause] The global nature of the market [Relation] cause [Effect] Cheniere has to compete on new greenfield and brownfield capital costs, availability and cost of gas, and transportation costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Revenue from the apps produced less than 3% of its 2019 total revenue. Thus, it was not surprising that, in late 2020, Under Armour announced that MyFitnessPal would be sold (for $345 million) and Endomondo would be shut down.",
    "output": "[Cause] Revenue from the apps produced less than 3% of its 2019 total revenue [Relation] cause [Effect] it was not surprising that, in late 2020, Under Armour announced that MyFitnessPal would be sold (for $345 million) and Endomondo would be shut down",
    "gold": "[Cause] Revenue from the apps produced less than 3% of its 2019 total revenue [Relation] cause [Effect] it was not surprising that, in late 2020, Under Armour announced that MyFitnessPal would be sold (for $345 million) and Endomondo would be shut down",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Yet the speed required to respond to changing customer demands is increasing, in our view, as digital retail gives shoppers access to a wide range of sellers, which has effectively nationalized searches for in-demand items.",
    "output": "[Cause] digital retail gives shoppers access to a wide range of sellers [Relation] cause [Effect] the speed required to respond to changing customer demands is increasing",
    "gold": "[Cause] digital retail gives shoppers access to a wide range of sellers [Relation] cause [Effect] the speed required to respond to changing customer demands is increasing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the past decade, plumbing margins have benefited from the segment's ability to persistently generate favorable price/cost spreads Building Products & Equipment(that is, increasing prices more than input cost inflation).",
    "output": "[Cause] the segment's ability to persistently generate favorable price/cost spreads Building Products & Equipment [Relation] enable [Effect] plumbing margins have benefited",
    "gold": "[Cause] the segment's ability to persistently generate favorable price/cost spreads Building Products & Equipment [Relation] enable [Effect] plumbing margins have benefited",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "During the past five years, unit sales have fallen 3% annually on average, so our secular growth prospects for the industry lie largely in international growth opportunities, as North America still represents about 70% of BRP's total sales.",
    "output": "[Cause] North America still represents about 70% of BRP's total sales [Relation] cause [Effect] our secular growth prospects for the industry lie largely in international growth opportunities",
    "gold": "[Cause] During the past five years, unit sales have fallen 3% annually on average [Relation] cause [Effect]  our secular growth prospects for the industry lie largely in international growth opportunities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the continued growth of its auto insurance operations, and the more meager growth in its reinsurance operations, Geico has become the largest generator of earned premiums for Berkshire.",
    "output": "[Cause] the continued growth of its auto insurance operations, and the more meager growth in its reinsurance operations [Relation] cause [Effect] Geico has become the largest generator of earned premiums for Berkshire",
    "gold": "[Cause]  the continued growth of its auto insurance operations, and the more meager growth in its reinsurance operations [Relation] cause [Effect] Geico has become the largest generator of earned premiums for Berkshire",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Delivery can extend Sprouts' appeal to customers that do not regularly drive past a store, but the channel is margin-dilutive even for firms that are able to scale costs over a much larger sales base.",
    "output": "[Cause] Delivery [Relation] enable [Effect] extend Sprouts' appeal to customers that do not regularly drive past a store",
    "gold": "[Cause] the channel is margin-dilutive [Relation] cause [Effect] firms that are able to scale costs over a much larger sales base",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Five Below's cost position is integral to its value proposition, as minimizing outlays enables a higher-value assortment of items priced at or below the chain's $5.55 per item cap (outside of its generally $6-$10 Five Beyond lineup).",
    "output": "[Cause] minimizing outlays enables a higher-value assortment of items priced at or below the chain's $5.55 per item cap (outside of its generally $6-$10 Five Beyond lineup) [Relation] cause [Effect] Five Below's cost position is integral to its value proposition",
    "gold": "[Cause]  minimizing outlays [Relation] enable [Effect] a higher-value assortment of items priced at or below the chain's $5.55 per item cap (outside of its generally $6-$10 Five Beyond lineup).",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While Sabre's distribution network holds network and efficient scale advantages, its IT solutions and hospitality solutions business (27% of 2019 revenue after eliminations), provide a third switching cost advantage, which makes it costly and time consuming for carriers to move to another provider.",
    "output": "[Cause] Sabre's distribution network holds network and efficient scale advantages [Relation] cause [Effect] its IT solutions and hospitality solutions business (27% of 2019 revenue after eliminations)",
    "gold": "[Cause] Sabre's distribution network holds network and efficient scale advantages [Relation] cause [Effect] its IT solutions and hospitality solutions business (27% of 2019 revenue after eliminations)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, with Yum's brands continuing to lead several ''''most preferred brand'''' surveys in China, we expect these initiatives to sustain consolidated same-store sales growth in the low- to mid-single-digit range.",
    "output": "[Cause] Yum's brands continuing to lead several '''''most preferred brand''' surveys in China [Relation] cause [Effect] we expect these initiatives to sustain consolidated same-store sales growth in the low- to mid-single-digit range",
    "gold": "[Cause]  Yum's brands continuing to lead several ''''most preferred brand'''' surveys in China [Relation] enable [Effect]  these initiatives to sustain consolidated same-store sales growth in the low- to mid-single-digit range",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Through its Low Carbon Ventures business unit, Oxy aims to construct a Direct Air Capture plant in the Permian area, which will reduce atmospheric CO2 by 1 million metric tons annually (which would offset about half of Oxy's current emissions).",
    "output": "[Cause] its Low Carbon Ventures business unit [Relation] enable [Effect] Oxy aims to construct a Direct Air Capture plant in the Permian area, which will reduce atmospheric CO2 by 1 million metric tons annually (which would offset about half of Oxy's current emissions)",
    "gold": "[Cause] Oxy aims to construct a Direct Air Capture plant in the Permian area [Relation] enable [Effect] reduce atmospheric CO2 by 1 million metric tons annually",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Management will need to pull through more volume in the recently acquired Rite Aid locations along with stores abroad as reimbursement stabilizes in Europe.",
    "output": "[Cause] reimbursement stabilizes in Europe [Relation] cause [Effect] Management will need to pull through more volume in the recently acquired Rite Aid locations along with stores abroad",
    "gold": "[Cause] reimbursement stabilizes in Europe [Relation] cause [Effect] Management will need to pull through more volume in the recently acquired Rite Aid locations along with stores abroad",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect that the lion's share of Arista's revenue will remain from cloud-based data center clients expanding their operations as software-defined networking paired with faster switching and routing products continue to be adopted.",
    "output": "[Cause] software-defined networking paired with faster switching and routing products continue to be adopted [Relation] cause [Effect] the lion's share of Arista's revenue will remain from cloud-based data center clients expanding their operations",
    "gold": "[Cause] software-defined networking paired with faster switching and routing products continue to be adopted [Relation] cause [Effect]  the lion's share of Arista's revenue will remain from cloud-based data center clients expanding their operations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we expect WestRock may be able to temporarily widen margins through ongoing productivity improvements, they are likely to be adopted by competitors, simply lowering the broader cost curve.",
    "output": "[Cause] ongoing productivity improvements [Relation] enable [Effect] widen margins",
    "gold": "[Cause]  ongoing productivity improvements [Relation] enable [Effect] widen margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As DocuSign continues to move upstream to larger clients, it will likely need to expand its sales and servicing headcount to deal with more complex issues.",
    "output": "[Cause] DocuSign continues to move upstream to larger clients [Relation] cause [Effect] it will likely need to expand its sales and servicing headcount to deal with more complex issues",
    "gold": "[Cause] DocuSign continues to move upstream to larger clients [Relation] cause [Effect] it will likely need to expand its sales and servicing headcount to deal with more complex issues",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast 6% average annual revenue growth over the next 10 years, driven by 3% systemwide unit growth and normalized average annual same-restaurant sales of 2% (with menu, takeout, and technology initiatives helping to offset what may become a more promotional casual dining environment).",
    "output": "[Cause] 3% systemwide unit growth and normalized average annual same-restaurant sales of 2% [Relation] cause [Effect] 6% average annual revenue growth over the next 10 years",
    "gold": "[Cause] with menu, takeout, and technology initiatives [Relation] enable [Effect] offset what may become a more promotional casual dining environment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Still, we think Spade can grow in both North America and Asia through store openings and new products, such as shoes (currently licensed).",
    "output": "[Cause] store openings and new products [Relation] enable [Effect] Spade can grow in both North America and Asia",
    "gold": "[Cause] store openings and new products [Relation] enable [Effect] Spade can grow in both North America and Asia",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Longer term, we believe climate change initiatives will impact new wells on federal lands, rather than the private lands that shale firms operate on.",
    "output": "[Cause] climate change initiatives [Relation] cause [Effect] impact new wells on federal lands",
    "gold": "[Cause] climate change initiatives [Relation] cause [Effect] impact new wells on federal lands",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The complexity of an entity's threat management increases as the quantity of data and traffic being generated off-premises grows.",
    "output": "[Cause] the quantity of data and traffic being generated off-premises grows [Relation] cause [Effect] The complexity of an entity's threat management increases",
    "gold": "[Cause] the quantity of data and traffic being generated off-premises grows [Relation] cause [Effect] The complexity of an entity's threat management increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the domestic professional segment returning to growth in the first quarter, we expect mid-single-digit percentage revenue growth for the automotive unit in 2021.",
    "output": "[Cause] the domestic professional segment returning to growth in the first quarter [Relation] cause [Effect] mid-single-digit percentage revenue growth for the automotive unit in 2021",
    "gold": "[Cause] the domestic professional segment returning to growth in the first quarter [Relation] enable [Effect] mid-single-digit percentage revenue growth for the automotive unit in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Net revenue is a key performance metric, as it represents gross sales less the cost of air and ocean capacity.",
    "output": "[Cause] it represents gross sales less the cost of air and ocean capacity [Relation] cause [Effect] Net revenue is a key performance metric",
    "gold": "[Cause] it represents gross sales less the cost of air and ocean capacity [Relation] cause [Effect] Net revenue is a key performance metric",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Auto technicians can find themselves working in difficult angles, so finding tools that improve their comfort level is very valuable.",
    "output": "[Cause] Auto technicians can find themselves working in difficult angles [Relation] cause [Effect] finding tools that improve their comfort level is very valuable",
    "gold": "[Cause] Auto technicians can find themselves working in difficult angles [Relation] enable [Effect] finding tools that improve their comfort level is very valuable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project that ad revenue will fall by 20% in 2020, as lower demand from advertisers due to COVID-19 overwhelms any ratings boosts from viewers staying at home.",
    "output": "[Cause] COVID-19 overwhelms any ratings boosts from viewers staying at home [Relation] cause [Effect] lower demand from advertisers",
    "gold": "[Cause] lower demand from advertisers [Relation] cause [Effect] We project that ad revenue will fall by 20% in 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We project that ad revenue will fall by 20% in 2020, as lower demand from advertisers due to COVID-19 overwhelms any ratings boosts from viewers staying at home.",
    "output": "[Cause] COVID-19 overwhelms any ratings boosts from viewers staying at home [Relation] cause [Effect] lower demand from advertisers",
    "gold": "[Cause] COVID-19 overwhelms any ratings boosts from viewers staying at home [Relation] cause [Effect] lower demand from advertisers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "One can imagine the frustration and possible reputational damage to a product if a perfectly functioning electric toothbrush or thermostat were to fail because of an unforeseen change in how the analog chip interacts with the rest of the circuit board.",
    "output": "[Cause] an unforeseen change in how the analog chip interacts with the rest of the circuit board [Relation] cause [Effect] a perfectly functioning electric toothbrush or thermostat were to fail",
    "gold": "[Cause]  a perfectly functioning electric toothbrush or thermostat were to fail [Relation] cause [Effect]  the frustration and possible reputational damage to a product",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, the firm and its primary shareholders, the Slim family, are likely to garner regulatory scrutiny in Mexico from time to time as officials seek to increase network investment and service adoption.",
    "output": "[Cause] officials seek to increase network investment and service adoption [Relation] cause [Effect] the firm and its primary shareholders, the Slim family, are likely to garner regulatory scrutiny in Mexico from time to time",
    "gold": "[Cause] officials seek to increase network investment and service adoption [Relation] enable [Effect] the firm and its primary shareholders, the Slim family, are likely to garner regulatory scrutiny in Mexico from time to time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Corteva sells a greater proportion of patented crop protection products and Enlist seeds, we expect companywide EBITDA margins to expand from a midteens percentage in 2019 to a high teens percentage over the next few years.",
    "output": "[Cause] Corteva sells a greater proportion of patented crop protection products and Enlist seeds [Relation] cause [Effect] companywide EBITDA margins to expand from a midteens percentage in 2019 to a high teens percentage over the next few years",
    "gold": "[Cause] Corteva sells a greater proportion of patented crop protection products and Enlist seeds [Relation] cause [Effect] companywide EBITDA margins to expand from a midteens percentage in 2019 to a high teens percentage over the next few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Pandemic-related acceleration of digital sales and the need to hold prices down should limit SG&A expense leverage, limiting operating margins to about 3.5% on average post-pandemic, versus 3.9% in fiscal 2019 (fiscal 2020 should see a nearly 6% mark as costs lever on higher volume).",
    "output": "[Cause] Pandemic-related acceleration of digital sales and the need to hold prices down [Relation] prevent [Effect] SG&A expense leverage",
    "gold": "[Cause] Pandemic-related acceleration of digital sales and the need to hold prices down [Relation] prevent [Effect] SG&A expense leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Pandemic-related acceleration of digital sales and the need to hold prices down should limit SG&A expense leverage, limiting operating margins to about 3.5% on average post-pandemic, versus 3.9% in fiscal 2019 (fiscal 2020 should see a nearly 6% mark as costs lever on higher volume).",
    "output": "[Cause] Pandemic-related acceleration of digital sales and the need to hold prices down [Relation] prevent [Effect] SG&A expense leverage",
    "gold": "[Cause] Pandemic-related acceleration of digital sales and the need to hold prices down [Relation] prevent [Effect] operating margins to about 3.5% on average post-pandemic, versus 3.9% in fiscal 2019",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the northern location of CP's assets, cold weather and avalanches can materially hamper efficiency by blocking tracks and necessitating shorter trains.",
    "output": "[Cause] the northern location of CP's assets [Relation] cause [Effect] cold weather and avalanches can materially hamper efficiency by blocking tracks and necessitating shorter trains",
    "gold": "[Cause]  the northern location of CP's assets [Relation] cause [Effect] cold weather and avalanches can materially hamper efficiency by blocking tracks and necessitating shorter trains",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, we believe the firm's vast resources enable it to respond to evolving consumer trends more effectively, and to help the firm recover more quickly and cost-effectively if it were to miss a trend.",
    "output": "[Cause] the firm's vast resources [Relation] enable [Effect] it to respond to evolving consumer trends more effectively, and to help the firm recover more quickly and cost-effectively if it were to miss a trend",
    "gold": "[Cause]  the firm's vast resources [Relation] enable [Effect]  it to respond to evolving consumer trends more effectively, and to help the firm recover more quickly and cost-effectively if it were to miss a trend",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ArcelorMittal also boasts significant end-market diversification, as it is leveraged to a wide variety of industries, including construction, automotive, energy, transportation, packaging, and appliances.",
    "output": "[Cause] it is leveraged to a wide variety of industries, including construction, automotive, energy, transportation, packaging, and appliances [Relation] cause [Effect] ArcelorMittal also boasts significant end-market diversification",
    "gold": "[Cause]  it is leveraged to a wide variety of industries, including construction, automotive, energy, transportation, packaging, and appliances [Relation] enable [Effect] ArcelorMittal also boasts significant end-market diversification",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the customer penetration rates remain low, with a single-digit level of the global population ever having cruised, we believe low switching costs could hinder the growth rate of cruisers, decreasing our confidence that Norwegian is poised to generate ROICs above WACC over an extended period.",
    "output": "[Cause] low switching costs [Relation] prevent [Effect] the growth rate of cruisers",
    "gold": "[Cause] low switching costs [Relation] prevent [Effect] the growth rate of cruisers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the customer penetration rates remain low, with a single-digit level of the global population ever having cruised, we believe low switching costs could hinder the growth rate of cruisers, decreasing our confidence that Norwegian is poised to generate ROICs above WACC over an extended period.",
    "output": "[Cause] low switching costs [Relation] prevent [Effect] our confidence that Norwegian is poised to generate ROICs above WACC over an extended period",
    "gold": "[Cause] low switching costs [Relation] prevent [Effect] our confidence that Norwegian is poised to generate ROICs above WACC over an extended period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that Nokia benefits from government regulation banning Huawei and ZTE from participating in certain geographies; however, we do not view these bans as a sustainable advantage because political policies are tentative and could affect Nokia negatively in the future.",
    "output": "[Cause] political policies are tentative and could affect Nokia negatively in the future [Relation] cause [Effect] we do not view these bans as a sustainable advantage",
    "gold": "[Cause] political policies are tentative and could affect Nokia negatively in the future [Relation] cause [Effect] we do not view these bans as a sustainable advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Hyatt to expand room and revenue share in the hotel industry over the next decade, driven by a favorable next-generation traveler position supported by its newer House and Place brands (30% of 2020 total rooms), supporting its intangible brand advantage.",
    "output": "[Cause] a favorable next-generation traveler position supported by its newer House and Place brands (30% of 2020 total rooms), supporting its intangible brand advantage [Relation] enable [Effect] Hyatt to expand room and revenue share in the hotel industry over the next decade",
    "gold": "[Cause]  a favorable next-generation traveler position supported by its newer House and Place brands (30% of 2020 total rooms), supporting its intangible brand advantage [Relation] cause [Effect] Hyatt to expand room and revenue share in the hotel industry over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the business world has become increasingly digitized, one avenue that has lacked significant investment is the enterprise phone system, often with landline phone equipment sitting on desks.",
    "output": "[Cause] the business world has become increasingly digitized [Relation] cause [Effect] one avenue that has lacked significant investment is the enterprise phone system, often with landline phone equipment sitting on desks",
    "gold": "[Cause] the business world has become increasingly digitized [Relation] cause [Effect] one avenue that has lacked significant investment is the enterprise phone system, often with landline phone equipment sitting on desks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There is no revenue concentration from a risk standpoint, as there are no 10% customers, but this may become a concern as management continues to sell more memberships to existing customers.",
    "output": "[Cause] there are no 10% customers [Relation] cause [Effect] There is no revenue concentration from a risk standpoint",
    "gold": "[Cause] there are no 10% customers [Relation] cause [Effect] There is no revenue concentration from a risk standpoint",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There is no revenue concentration from a risk standpoint, as there are no 10% customers, but this may become a concern as management continues to sell more memberships to existing customers.",
    "output": "[Cause] management continues to sell more memberships to existing customers [Relation] cause [Effect] this may become a concern",
    "gold": "[Cause] management continues to sell more memberships to existing customers [Relation] cause [Effect] this may become a concern",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As truckers have many forums to exchange experiences with their peers, nuanced product quality issues can quickly spread throughout the community.",
    "output": "[Cause] truckers have many forums to exchange experiences with their peers [Relation] cause [Effect] nuanced product quality issues can quickly spread throughout the community",
    "gold": "[Cause] truckers have many forums to exchange experiences with their peers [Relation] cause [Effect] nuanced product quality issues can quickly spread throughout the community",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, the state of California requires that products with glyphosate must be labeled with cancer warnings, which could hurt sales as consumers may no longer want to buy the product.",
    "output": "[Cause] consumers may no longer want to buy the product [Relation] cause [Effect] hurt sales",
    "gold": "[Cause] the state of California requires that products with glyphosate must be labeled with cancer warnings [Relation] cause [Effect] hurt sales as consumers may no longer want to buy the product.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Overall, we think Idex has done a respectable job refreshing its product portfolio to maintain its competitive position and keep rivals at bay.",
    "output": "[Cause] refreshing its product portfolio [Relation] enable [Effect] maintain its competitive position and keep rivals at bay",
    "gold": "[Cause]  refreshing its product portfolio [Relation] enable [Effect]  maintain its competitive position and keep rivals at bay",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Within the pipeline, Bristol's astute acquisition of Medarex helps secure Bristol's strong first-mover advantage in cancer immunotherapy, which should yield several major blockbuster compounds.",
    "output": "[Cause] Bristol's astute acquisition of Medarex [Relation] enable [Effect] secure Bristol's strong first-mover advantage in cancer immunotherapy, which should yield several major blockbuster compounds",
    "gold": "[Cause] Bristol's astute acquisition of Medarex [Relation] cause [Effect] secure Bristol's strong first-mover advantage in cancer immunotherapy, which should yield several major blockbuster compounds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Continued pressure on drug pricing poses a risk to the company and includes deflation in generic drug prices, increased generic mix, slower growth in the pharmaceutical pipeline, and lower spending on hepatitis C and opioids.",
    "output": "[Cause] Continued pressure on drug pricing [Relation] cause [Effect] a risk to the company",
    "gold": "[Cause] Continued pressure on drug pricing [Relation] cause [Effect] a risk to the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After a strong third quarter (13% comparable sales growth), we are lifting our valuation to $103 per share from $95, or 25 times expected fiscal 2021 earnings.",
    "output": "[Cause] After a strong third quarter (13% comparable sales growth) [Relation] cause [Effect] we are lifting our valuation to $103 per share from $95, or 25 times expected fiscal 2021 earnings",
    "gold": "[Cause] After a strong third quarter (13% comparable sales growth) [Relation] cause [Effect] we are lifting our valuation to $103 per share from $95, or 25 times expected fiscal 2021 earnings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of the first mover advantage and concurrent de facto status as the standard in desktop OS software, software was initially written for Windows.",
    "output": "[Cause] the first mover advantage and concurrent de facto status as the standard in desktop OS software [Relation] cause [Effect] software was initially written for Windows",
    "gold": "[Cause] the first mover advantage and concurrent de facto status as the standard in desktop OS software [Relation] cause [Effect] software was initially written for Windows",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, as the company divests or retires its merchant nuclear plants, regulated operations will represent almost all of consolidated earnings in the next decade, and an adverse decision from regulators would negatively affect earnings and cash flow.",
    "output": "[Cause] the company divests or retires its merchant nuclear plants [Relation] cause [Effect] regulated operations will represent almost all of consolidated earnings in the next decade",
    "gold": "[Cause] the company divests or retires its merchant nuclear plants [Relation] cause [Effect] regulated operations will represent almost all of consolidated earnings in the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, as the company divests or retires its merchant nuclear plants, regulated operations will represent almost all of consolidated earnings in the next decade, and an adverse decision from regulators would negatively affect earnings and cash flow.",
    "output": "[Cause] an adverse decision from regulators [Relation] prevent [Effect] earnings and cash flow",
    "gold": "[Cause] an adverse decision from regulators [Relation] prevent [Effect] earnings and cash flow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the sorting of scrap metal is largely automated, the separation process still involves certain manual tasks that prevent average costs from decreasing significantly as throughput volume increases.",
    "output": "[Cause] the separation process still involves certain manual tasks [Relation] prevent [Effect] average costs from decreasing significantly as throughput volume increases",
    "gold": "[Cause] the separation process still involves certain manual tasks [Relation] prevent [Effect] average costs from decreasing significantly as throughput volume increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its strengths in these related areas help Fresenius maintain the leading global position in this expanding market, and we expect the company to continue benefiting from solid demand in developed markets, such as the U.S., and even faster expansion in emerging markets, such as China, in the long run.",
    "output": "[Cause] Its strengths in these related areas [Relation] enable [Effect] Fresenius maintain the leading global position in this expanding market",
    "gold": "[Cause] Its strengths in these related areas help Fresenius maintain the leading global position in this expanding market [Relation] enable [Effect] the company to continue benefiting from solid demand in developed markets, such as the U.S., and even faster expansion in emerging markets, such as China, in the long run",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Its strengths in these related areas help Fresenius maintain the leading global position in this expanding market, and we expect the company to continue benefiting from solid demand in developed markets, such as the U.S., and even faster expansion in emerging markets, such as China, in the long run.",
    "output": "[Cause] Its strengths in these related areas [Relation] enable [Effect] Fresenius maintain the leading global position in this expanding market",
    "gold": "[Cause] Its strengths in these related areas [Relation] enable [Effect] Fresenius maintain the leading global position in this expanding market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, we believe that the online business should continue to benefit from the COVID-19 impact, despite the intensified online competition may resulted near-term margin pressure due to higher selling and marketing expenses.",
    "output": "[Cause] higher selling and marketing expenses [Relation] cause [Effect] the intensified online competition may resulted near-term margin pressure",
    "gold": "[Cause] the intensified online competition [Relation] prevent [Effect] near-term margin",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After updating our projections, largely with tweaks to our future net interest income forecasts, we are increasing our fair value estimate for Huntington to $18 per share from $16.",
    "output": "[Cause] updating our projections, largely with tweaks to our future net interest income forecasts [Relation] cause [Effect] we are increasing our fair value estimate for Huntington to $18 per share from $16",
    "gold": "[Cause] After updating our projections, [Relation] enable [Effect] we are increasing our fair value estimate for Huntington to $18 per share from $16.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think returns in this segment are below cost of equity and will likely remain so for the foreseeable future, given higher risk weights for corporate lending products.",
    "output": "[Cause] higher risk weights for corporate lending products [Relation] cause [Effect] returns in this segment are below cost of equity and will likely remain so for the foreseeable future",
    "gold": "[Cause]  returns in this segment are below cost of equity and will likely remain so for the foreseeable future [Relation] enable [Effect]  higher risk weights for corporate lending products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over the long term, we expect 2% consolidated organic sales growth, driven by low-single-digit growth in its packaged food segments and 9% average annual 10-year growth for pet food, as the BLUE brand continues to expand its offerings beyond its foundational dry dog food lineup.",
    "output": "[Cause] the BLUE brand continues to expand its offerings beyond its foundational dry dog food lineup [Relation] cause [Effect] 2% consolidated organic sales growth, driven by low-single-digit growth in its packaged food segments and 9% average annual 10-year growth for pet food",
    "gold": "[Cause] low-single-digit growth in its packaged food segments and 9% average annual 10-year growth for pet food [Relation] enable [Effect] we expect 2% consolidated organic sales growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, the price wars that hit the market following regulatory reform and AT&amp;T's entrance have hurt third-place carrier Telefonica particularly hard, prompting the firm to effectively exit the market in 2019 as a facilities-based operator.",
    "output": "[Cause] the price wars that hit the market following regulatory reform and AT&amp;T's entrance [Relation] cause [Effect] hurt third-place carrier Telefonica particularly hard",
    "gold": "[Cause] the price wars that hit the market following regulatory reform and AT&amp;T's entrance [Relation] cause [Effect]  hurt third-place carrier Telefonica particularly hard",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Hologic's first-mover advantage in 3D mammography, wide installed base, and strong trial validation provide it with firm footing in this market.",
    "output": "[Cause] Hologic's first-mover advantage in 3D mammography, wide installed base, and strong trial validation [Relation] enable [Effect] provide it with firm footing in this market",
    "gold": "[Cause] Hologic's first-mover advantage in 3D mammography, wide installed base, and strong trial validation [Relation] cause [Effect] provide it with firm footing in this market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The bank has also been making multiple acquisitions in its Latin America footprint as it attempts to consolidate better share within the area.",
    "output": "[Cause] it attempts to consolidate better share within the area [Relation] cause [Effect] The bank has also been making multiple acquisitions in its Latin America footprint",
    "gold": "[Cause] it attempts to consolidate better share within the area [Relation] cause [Effect] The bank has also been making multiple acquisitions in its Latin America footprint",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite its size, Capital One has fewer than 500 branches, which is down from its peak of over 700 as the firm has been shrinking its already small footprint while expanding its deposit base and assets.",
    "output": "[Cause] the firm has been shrinking its already small footprint while expanding its deposit base and assets [Relation] cause [Effect] Capital One has fewer than 500 branches, which is down from its peak of over 700",
    "gold": "[Cause] the firm has been shrinking its already small footprint while expanding its deposit base and assets [Relation] cause [Effect] Capital One has fewer than 500 branches, which is down from its peak of over 700",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The next major transistor innovation expected to succeed FinFET is gate all-around, or GAA, that will allow chipmakers to continue traversing Moore's Law.",
    "output": "[Cause] The next major transistor innovation expected to succeed FinFET is gate all-around, or GAA [Relation] enable [Effect] chipmakers to continue traversing Moore's Law",
    "gold": "[Cause] The next major transistor innovation expected to succeed FinFET is gate all-around, or GAA [Relation] enable [Effect] chipmakers to continue traversing Moore's Law",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Hilton's room share expansion to be among the industry's fastest over the next decade because of an industry-leading pipeline, favorable next-generation traveler position supported by newer brands, and its highly rated loyalty program.",
    "output": "[Cause] an industry-leading pipeline, favorable next-generation traveler position supported by newer brands, and its highly rated loyalty program [Relation] cause [Effect] Hilton's room share expansion to be among the industry's fastest over the next decade",
    "gold": "[Cause] an industry-leading pipeline, favorable next-generation traveler position supported by newer brands, and its highly rated loyalty program [Relation] cause [Effect] Hilton's room share expansion to be among the industry's fastest over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sustainalytics specifically calls out Idexx's diagnostics for water and production animals where faulty test results could lead to contaminated food or water for human consumption.",
    "output": "[Cause] faulty test results [Relation] cause [Effect] contaminated food or water for human consumption",
    "gold": "[Cause]  faulty test results [Relation] cause [Effect] contaminated food or water for human consumption",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A complementary digital plan, which has focused on strategic relationships with Google, Alibaba, and others, should help brand visibility, potentially preventing share losses to other digital toy peers.",
    "output": "[Cause] A complementary digital plan [Relation] enable [Effect] help brand visibility",
    "gold": "[Cause] A complementary digital plan [Relation] enable [Effect] help brand visibility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Water should see its organic growth rate slightly negative over the next five years, driven by sales declines in fiscal 2020 (at 16% in our estimates) due to the segment's exposure in food service and impulse channels, which are severely affected by COVID-19-induced lockdowns.",
    "output": "[Cause] sales declines in fiscal 2020 (at 16% in our estimates) [Relation] cause [Effect] its organic growth rate slightly negative over the next five years",
    "gold": "[Cause] the segment's exposure in food service and impulse channels [Relation] cause [Effect] sales declines in fiscal 2020 (at 16% in our estimates)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Water should see its organic growth rate slightly negative over the next five years, driven by sales declines in fiscal 2020 (at 16% in our estimates) due to the segment's exposure in food service and impulse channels, which are severely affected by COVID-19-induced lockdowns.",
    "output": "[Cause] sales declines in fiscal 2020 (at 16% in our estimates) [Relation] cause [Effect] its organic growth rate slightly negative over the next five years",
    "gold": "[Cause] COVID-19-induced lockdowns [Relation] cause [Effect] the segment's exposure in food service and impulse channels",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect net interest income to continue to decline meaningfully in 2021 as low interest rates and a flatter yield curve weigh on net interest margins.",
    "output": "[Cause] low interest rates and a flatter yield curve weigh on net interest margins [Relation] cause [Effect] We expect net interest income to continue to decline meaningfully in 2021",
    "gold": "[Cause]  low interest rates and a flatter yield curve weigh on net interest margins [Relation] cause [Effect] We expect net interest income to continue to decline meaningfully in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Still, Coke's reliance on its bottlers for execution is incontrovertible, and as a result, the firm not only commits to providing resources, but also to buy outright underperforming bottlers.",
    "output": "[Cause] Coke's reliance on its bottlers for execution is incontrovertible [Relation] cause [Effect] the firm not only commits to providing resources, but also to buy outright underperforming bottlers",
    "gold": "[Cause] Coke's reliance on its bottlers for execution is incontrovertible [Relation] cause [Effect] the firm not only commits to providing resources, but also to buy outright underperforming bottlers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Partly due to store closures related to the pandemic, Nike expects digital sales from its own channels and those of wholesale partners to increase to as much as 30% of its sales this fiscal year.",
    "output": "[Cause] store closures related to the pandemic [Relation] cause [Effect] Nike expects digital sales from its own channels and those of wholesale partners to increase to as much as 30% of its sales this fiscal year",
    "gold": "[Cause] store closures related to the pandemic [Relation] cause [Effect] Nike expects digital sales from its own channels and those of wholesale partners to increase to as much as 30% of its sales this fiscal year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Partly due to store closures related to the pandemic, Nike expects digital sales from its own channels and those of wholesale partners to increase to as much as 30% of its sales this fiscal year.",
    "output": "[Cause] store closures related to the pandemic [Relation] cause [Effect] Nike expects digital sales from its own channels and those of wholesale partners to increase to as much as 30% of its sales this fiscal year",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] store closures",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Client size in the commercial loan book should moderate the bank's exposure, with an evident skew toward smaller corporates and small and medium-size enterprises that have more difficulty accessing capital markets.",
    "output": "[Cause] Client size in the commercial loan book [Relation] enable [Effect] moderate the bank's exposure",
    "gold": "[Cause] an evident skew toward smaller corporates and small and medium-size enterprises that have more difficulty accessing capital markets [Relation] cause [Effect] Client size in the commercial loan book should moderate the bank's exposure",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Client size in the commercial loan book should moderate the bank's exposure, with an evident skew toward smaller corporates and small and medium-size enterprises that have more difficulty accessing capital markets.",
    "output": "[Cause] an evident skew toward smaller corporates and small and medium-size enterprises that have more difficulty accessing capital markets [Relation] cause [Effect] moderate the bank's exposure",
    "gold": "[Cause] Client size in the commercial loan book [Relation] enable [Effect] moderate the bank's exposure",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The increase in earnings guidance was driven by an improved outlook for American Savings Bank due in large part to a steady recovery of the Hawaiian economy.",
    "output": "[Cause] an improved outlook for American Savings Bank [Relation] cause [Effect] The increase in earnings guidance",
    "gold": "[Cause] an improved outlook for American Savings Bank [Relation] cause [Effect] The increase in earnings guidance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The increase in earnings guidance was driven by an improved outlook for American Savings Bank due in large part to a steady recovery of the Hawaiian economy.",
    "output": "[Cause] an improved outlook for American Savings Bank [Relation] cause [Effect] The increase in earnings guidance",
    "gold": "[Cause] a steady recovery of the Hawaiian economy [Relation] cause [Effect] an improved outlook for American Savings Bank",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "PG&E's inability to access capital markets at reasonable prices due to wildfire-related legal, regulatory, and political concerns led the company to declare bankruptcy in January 2019.",
    "output": "[Cause] wildfire-related legal, regulatory, and political concerns [Relation] cause [Effect] PG&E's inability to access capital markets at reasonable prices",
    "gold": "[Cause] PG&E's inability to access capital markets at reasonable prices [Relation] cause [Effect]  the company to declare bankruptcy in January 2019",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "PG&E's inability to access capital markets at reasonable prices due to wildfire-related legal, regulatory, and political concerns led the company to declare bankruptcy in January 2019.",
    "output": "[Cause] wildfire-related legal, regulatory, and political concerns [Relation] cause [Effect] PG&E's inability to access capital markets at reasonable prices",
    "gold": "[Cause]  wildfire-related legal, regulatory, and political concerns [Relation] cause [Effect] PG&E's inability to access capital markets at reasonable prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Bed Bath & Beyond (and its secondary concepts) should remain an existing shopping destination post COVID-19, thanks to significant efforts to boost buy online, pickup in store, and curbside pickup capabilities.",
    "output": "[Cause] significant efforts to boost buy online, pickup in store, and curbside pickup capabilities [Relation] enable [Effect] Bed Bath & Beyond (and its secondary concepts) should remain an existing shopping destination post COVID-19",
    "gold": "[Cause] significant efforts to boost buy online, pickup in store, and curbside pickup capabilities [Relation] cause [Effect]  Bed Bath & Beyond (and its secondary concepts) should remain an existing shopping destination post COVID-19",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As consumers slowly resume cruising after a more than nine-month sailing halt (which could be prolonged), we suspect cruise operators will have to reassure passengers of the safety and value propositions of cruising.",
    "output": "[Cause] consumers slowly resume cruising after a more than nine-month sailing halt [Relation] cause [Effect] cruise operators will have to reassure passengers of the safety and value propositions of cruising",
    "gold": "[Cause] a more than nine-month sailing halt [Relation] enable [Effect] As consumers slowly resume cruising",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Network segments will stay roughly flat at 57% through 2025 as the content costs will just about offset revenue growth. As a result, the EBITDA margin for the firm will expand slightly to 42.3% by 2025, up from 41.9% in 2019 for Discovery.",
    "output": "[Cause] Network segments will stay roughly flat at 57% through 2025 as the content costs will just about offset revenue growth [Relation] cause [Effect] the EBITDA margin for the firm will expand slightly to 42.3% by 2025, up from 41.9% in 2019 for Discovery",
    "gold": "[Cause] Network segments will stay roughly flat at 57% through 2025 as the content costs will just about offset revenue growth [Relation] cause [Effect] the EBITDA margin for the firm will expand slightly to 42.3% by 2025, up from 41.9% in 2019 for Discovery",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, FireEye's architecture lacks the breadth of its peers and is a more difficult sell since FireEye is not entrenched within customer security infrastructure like the leading firewall vendors.",
    "output": "[Cause] FireEye is not entrenched within customer security infrastructure like the leading firewall vendors [Relation] cause [Effect] FireEye's architecture lacks the breadth of its peers and is a more difficult sell",
    "gold": "[Cause] FireEye is not entrenched within customer security infrastructure like the leading firewall vendors [Relation] cause [Effect] FireEye's architecture lacks the breadth of its peers and is a more difficult sell",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the longer term, the uncertainty revolving around technological progress may potentially prove detrimental to the company, as Intel's acquisition of Altera will leverage the former's advanced manufacturing capabilities.",
    "output": "[Cause] Intel's acquisition of Altera will leverage the former's advanced manufacturing capabilities [Relation] cause [Effect] the uncertainty revolving around technological progress may potentially prove detrimental to the company",
    "gold": "[Cause]  Intel's acquisition of Altera will leverage the former's advanced manufacturing capabilities [Relation] cause [Effect]  the uncertainty revolving around technological progress may potentially prove detrimental to the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the firm gained share in 2019, when it reported 5.8% organic growth, above the low-single-digit industry growth rate, as PFG reaped the benefits of an expanded salesforce.",
    "output": "[Cause] PFG reaped the benefits of an expanded salesforce [Relation] cause [Effect] the firm gained share in 2019, when it reported 5.8% organic growth, above the low-single-digit industry growth rate",
    "gold": "[Cause] PFG reaped the benefits of an expanded salesforce [Relation] cause [Effect] the firm gained share in 2019, when it reported 5.8% organic growth, above the low-single-digit industry growth rate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, after the acquisition, the Jabal Sayid project faced questions from Saudi Arabia's deputy minister for mineral resources, forcing the company to temporarily place the development on care and maintenance.",
    "output": "[Cause] the Jabal Sayid project faced questions from Saudi Arabia's deputy minister for mineral resources [Relation] cause [Effect] the company to temporarily place the development on care and maintenance",
    "gold": "[Cause]  the Jabal Sayid project faced questions from Saudi Arabia's deputy minister for mineral resources [Relation] cause [Effect]  the company to temporarily place the development on care and maintenance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In its retail operations, CVS has established significant scale that has enabled it to leverage some negotiating power with suppliers.",
    "output": "[Cause] CVS has established significant scale [Relation] enable [Effect] it to leverage some negotiating power with suppliers",
    "gold": "[Cause] CVS has established significant scale [Relation] enable [Effect]  it to leverage some negotiating power with suppliers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Close ties with OEM customers (75% of total 2020 revenue) are integral to success in the automotive industry supply base and create another significant barrier to entry.",
    "output": "[Cause] Close ties with OEM customers (75% of total 2020 revenue) [Relation] enable [Effect] success in the automotive industry supply base and create another significant barrier to entry",
    "gold": "[Cause] Close ties with OEM customers (75% of total 2020 revenue) [Relation] enable [Effect] success in the automotive industry supply base and create another significant barrier to entry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume operating margins recover from the roughly 3.7% posted in 2020 due to better capacity utilization from increased production in the final years of our model.",
    "output": "[Cause] better capacity utilization from increased production in the final years of our model [Relation] cause [Effect] operating margins recover from the roughly 3.7% posted in 2020",
    "gold": "[Cause] better capacity utilization from increased production in the final years of our model [Relation] cause [Effect] operating margins recover from the roughly 3.7% posted in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, we think the company is well diversified against client concentration risk, where individual trial cancellations can have a sizable impact on a CRO's business results.",
    "output": "[Cause] the company is well diversified against client concentration risk [Relation] cause [Effect] individual trial cancellations can have a sizable impact on a CRO's business results",
    "gold": "[Cause]  individual trial cancellations [Relation] enable [Effect]  impact on a CRO's business results",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With the company already in turnaround mode, the coronavirus pandemic will prolong the process, detouring any improvement in execution through the rough roads of margin contraction on the severely negative operating leverage from factory closures induced by the outbreak.",
    "output": "[Cause] the rough roads of margin contraction on the severely negative operating leverage from factory closures induced by the outbreak [Relation] cause [Effect] detouring any improvement in execution",
    "gold": "[Cause] the rough roads of margin contraction on the severely negative operating leverage from factory closures induced by the outbreak [Relation] cause [Effect] detouring any improvement in execution",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If domestic pricing pressure is exacerbated more than expected as new entrants emerge, we may need to revisit our assumptions in those out years.",
    "output": "[Cause] new entrants emerge [Relation] cause [Effect] domestic pricing pressure is exacerbated more than expected",
    "gold": "[Cause] domestic pricing pressure is exacerbated more than expected as new entrants emerge [Relation] cause [Effect] we may need to revisit our assumptions in those out years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If domestic pricing pressure is exacerbated more than expected as new entrants emerge, we may need to revisit our assumptions in those out years.",
    "output": "[Cause] domestic pricing pressure is exacerbated more than expected [Relation] cause [Effect] revisit our assumptions in those out years",
    "gold": "[Cause] new entrants emerge [Relation] cause [Effect] domestic pricing pressure is exacerbated more than expected",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Eastman's continual innovation of its Impera brand allows the company to charge a premium as its newest patented products allow tire manufacturers to meet the pending regulations in both of these areas.",
    "output": "[Cause] its newest patented products allow tire manufacturers to meet the pending regulations in both of these areas [Relation] cause [Effect] Eastman's continual innovation of its Impera brand allows the company to charge a premium",
    "gold": "[Cause] its newest patented products allow tire manufacturers to meet the pending regulations in both of these areas [Relation] cause [Effect] Eastman's continual innovation of its Impera brand allows the company to charge a premium",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A wave of consolidation hit the local station marketplace in the 1990s and has continued to this day as the Federal Communications Commission has weakened its stance on media ownership concentration.",
    "output": "[Cause] the Federal Communications Commission has weakened its stance on media ownership concentration [Relation] cause [Effect] A wave of consolidation hit the local station marketplace in the 1990s and has continued to this day",
    "gold": "[Cause] the Federal Communications Commission has weakened its stance on media ownership concentration [Relation] cause [Effect] A wave of consolidation hit the local station marketplace in the 1990s and has continued to this day",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By end market, we expect Waters' growth to be led by pharmaceuticals, with 4% overall growth expected on high-single-digit biologic-related growth that considers robust general demand trends along with its new product launches and low-single-digit growth in small molecules.",
    "output": "[Cause] robust general demand trends along with its new product launches and low-single-digit growth in small molecules [Relation] cause [Effect] 4% overall growth expected on high-single-digit biologic-related growth",
    "gold": "[Cause] robust general demand trends along with its new product launches and low-single-digit growth in small molecules [Relation] cause [Effect] 4% overall growth expected on high-single-digit biologic-related growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Boeing's narrow-body business is bruised after the extended grounding of the 737 MAX, but we anticipate that the structural tailwinds driving narrow-body demand, particularly the development of emerging-market economies, will continue as the world emerges from the COVID-19 pandemic.",
    "output": "[Cause] the extended grounding of the 737 MAX [Relation] cause [Effect] Boeing's narrow-body business is bruised",
    "gold": "[Cause]  the extended grounding of the 737 MAX [Relation] cause [Effect] Boeing's narrow-body business is bruised",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Boeing's narrow-body business is bruised after the extended grounding of the 737 MAX, but we anticipate that the structural tailwinds driving narrow-body demand, particularly the development of emerging-market economies, will continue as the world emerges from the COVID-19 pandemic.",
    "output": "[Cause] the world emerges from the COVID-19 pandemic [Relation] cause [Effect] the structural tailwinds driving narrow-body demand, particularly the development of emerging-market economies, will continue",
    "gold": "[Cause]  the world emerges from the COVID-19 pandemic [Relation] cause [Effect]  the structural tailwinds driving narrow-body demand, particularly the development of emerging-market economies, will continue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The impact of COVID-19 on our forecast is altogether a positive, as the company stands to benefit from strong demand for Veritor and testing revenue as well as vaccine-related syringe demand.",
    "output": "[Cause] the company stands to benefit from strong demand for Veritor and testing revenue as well as vaccine-related syringe demand [Relation] cause [Effect] The impact of COVID-19 on our forecast is altogether a positive",
    "gold": "[Cause] the company stands to benefit from strong demand for Veritor and testing revenue as well as vaccine-related syringe demand [Relation] cause [Effect] The impact of COVID-19 on our forecast is altogether a positive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the latter point, we think Intel had less incentive to rush out its new 10-nm process, as new processes are typically margin-dilutive during the initial ramp.",
    "output": "[Cause] new processes are typically margin-dilutive during the initial ramp [Relation] cause [Effect] Intel had less incentive to rush out its new 10-nm process",
    "gold": "[Cause] new processes are typically margin-dilutive during the initial ramp [Relation] cause [Effect] Intel had less incentive to rush out its new 10-nm process",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Offsetting some of the challenges in the generic industry, Teva's global scale and vertical integration provide the firm with a low-cost edge in a highly fragmented market where a select few firms control the lion's share of the worlds generic production.",
    "output": "[Cause] Teva's global scale and vertical integration [Relation] enable [Effect] the firm with a low-cost edge in a highly fragmented market",
    "gold": "[Cause] Offsetting some of the challenges in the generic industry [Relation] enable [Effect] Teva's global scale and vertical integration provide the firm with a low-cost edge",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Weather volatility and declining business fundamentals have led to volatility in Suburban's adjusted returns on invested capital, which have recently been below our weighted-average cost of capital.",
    "output": "[Cause] Weather volatility and declining business fundamentals [Relation] cause [Effect] volatility in Suburban's adjusted returns on invested capital",
    "gold": "[Cause] Weather volatility and declining business fundamentals [Relation] cause [Effect] volatility in Suburban's adjusted returns on invested capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "During our five-year explicit forecast period, we apply a CAGR of roughly 1.4% for steel shipment volumes, due to a gradual demand recovery in its end markets.",
    "output": "[Cause] a gradual demand recovery in its end markets [Relation] cause [Effect] we apply a CAGR of roughly 1.4% for steel shipment volumes",
    "gold": "[Cause] a gradual demand recovery in its end markets [Relation] cause [Effect] we apply a CAGR of roughly 1.4% for steel shipment volumes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also think GTT's narrow focus on serving large, multinational customers results in superior service and the opportunity to poach some customers from bigger competitors.",
    "output": "[Cause] GTT's narrow focus on serving large, multinational customers [Relation] cause [Effect] superior service and the opportunity to poach some customers from bigger competitors",
    "gold": "[Cause] GTT's narrow focus on serving large, multinational customers [Relation] cause [Effect] superior service and the opportunity to poach some customers from bigger competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since switching requires potentially retraining, retooling, and even relocating manufacturing, the cost of switching to marginally cheaper connector and sensors for products that meet a similar reliability standard is extremely high for these customers both in terms of time, expense, and loss of revenue. Thus, once a company's product has been designed in, it is likely to remain in for the duration of the design lifecycle.",
    "output": "[Cause] Since switching requires potentially retraining, retooling, and even relocating manufacturing, the cost of switching to marginally cheaper connector and sensors for products that meet a similar reliability standard is extremely high for these customers both in terms of time, expense, and loss of revenue [Relation] cause [Effect] once a company's product has been designed in, it is likely to remain in for the duration of the design lifecycle",
    "gold": "[Cause] Since switching requires potentially retraining, retooling, and even relocating manufacturing, the cost of switching to marginally cheaper connector and sensors for products that meet a similar reliability standard is extremely high for these customers both in terms of time, expense, and loss of revenue [Relation] cause [Effect] once a company's product has been designed in, it is likely to remain in for the duration of the design lifecycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nevertheless, the fact that the firm has been able to maintain some semblance of price integrity in these lower income markets is a strong indicator of its brand cachet, in our view.",
    "output": "[Cause] the firm has been able to maintain some semblance of price integrity in these lower income markets [Relation] enable [Effect] its brand cachet",
    "gold": "[Cause] strong indicator of its brand cachet [Relation] cause [Effect]  the firm has been able to maintain some semblance of price integrity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, the recently closed acquisition of UnityMedia from Liberty Global further enhance Vodafone's fixed-line reach in Germany, as Vodafone can now reach about 60% of the country with its fixed-line networks.",
    "output": "[Cause] Vodafone can now reach about 60% of the country with its fixed-line networks [Relation] cause [Effect] the recently closed acquisition of UnityMedia from Liberty Global further enhance Vodafone's fixed-line reach in Germany",
    "gold": "[Cause] the recently closed acquisition of UnityMedia from Liberty Global [Relation] enable [Effect] Vodafone can now reach about 60% of the country with its fixed-line networks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The Australian government's ''''four pillars'''' policy prevents any of the four major banks from taking over each other, negating the risk of peers merging to gain greater scale and competitive advantages.",
    "output": "[Cause] The Australian government's ''''four pillars''' policy [Relation] prevent [Effect] any of the four major banks from taking over each other, negating the risk of peers merging to gain greater scale and competitive advantages",
    "gold": "[Cause] The Australian government's ''''four pillars'''' policy [Relation] prevent [Effect]  the risk of peers merging to gain greater scale and competitive advantages",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Most of the company's services were likely born from its Network Solutions segment as it is a dental and medical claim clearing house servicing both payers and providers.",
    "output": "[Cause] it is a dental and medical claim clearing house servicing both payers and providers [Relation] cause [Effect] Most of the company's services were likely born from its Network Solutions segment",
    "gold": "[Cause] it is a dental and medical claim clearing house servicing both payers and providers [Relation] enable [Effect] Most of the company's services were likely born from its Network Solutions segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The AspenOne software platform helps improve process-oriented plant efficiency, and thereby lower capital intensity, increase working capital efficiency, and improve margins.",
    "output": "[Cause] The AspenOne software platform [Relation] enable [Effect] improve process-oriented plant efficiency",
    "gold": "[Cause] The AspenOne software platform [Relation] enable [Effect]  improve process-oriented plant efficiency",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The AspenOne software platform helps improve process-oriented plant efficiency, and thereby lower capital intensity, increase working capital efficiency, and improve margins.",
    "output": "[Cause] improve process-oriented plant efficiency [Relation] cause [Effect] lower capital intensity, increase working capital efficiency, and improve margins",
    "gold": "[Cause]  improve process-oriented plant efficiency [Relation] enable [Effect]  lower capital intensity, increase working capital efficiency, and improve margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Per company insiders, Synopsys has relationships with 100% of chip design companies in the United States today, so if a company is involved in the chip design process, it uses Synopsys tools at some stage of its design process.",
    "output": "[Cause] Synopsys has relationships with 100% of chip design companies in the United States today [Relation] cause [Effect] if a company is involved in the chip design process, it uses Synopsys tools at some stage of its design process",
    "gold": "[Cause] Synopsys has relationships with 100% of chip design companies in the United States today [Relation] cause [Effect]  if a company is involved in the chip design process, it uses Synopsys tools at some stage of its design process",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the long term, we expect sluggish visitor growth to be strengthened by above-inflation price increases, as tourist demand eventually catches up with the addition of new observation decks.",
    "output": "[Cause] tourist demand eventually catches up with the addition of new observation decks [Relation] cause [Effect] sluggish visitor growth to be strengthened by above-inflation price increases",
    "gold": "[Cause] tourist demand eventually catches up with the addition of new observation decks [Relation] enable [Effect] sluggish visitor growth to be strengthened by above-inflation price increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Gentex's quality and reliability are very hard to beat, and customers do not source mirrors solely based on price, which reduces the threat from low-cost Asian suppliers.",
    "output": "[Cause] Gentex's quality and reliability are very hard to beat, and customers do not source mirrors solely based on price [Relation] cause [Effect] reduces the threat from low-cost Asian suppliers",
    "gold": "[Cause] Gentex's quality and reliability are very hard to beat, and customers do not source mirrors solely based on price [Relation] enable [Effect] reduces the threat from low-cost Asian suppliers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, leases are not fully binding and can be terminated by tenants, with termination income not enough of a financial sum to constitute switching costs.",
    "output": "[Cause] leases are not fully binding and can be terminated by tenants [Relation] cause [Effect] termination income not enough of a financial sum to constitute switching costs",
    "gold": "[Cause] leases are not fully binding and can be terminated by tenants [Relation] enable [Effect] termination income not enough of a financial sum to constitute switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The strength of recent technological investments, the company's strong performance during a trying 2020 (during which its ROIC of 15% still outperformed its cost of capital), and the firm's success in international markets leave us confident that McDonald's will continue to earn excess returns over an extended period.",
    "output": "[Cause] The strength of recent technological investments, the company's strong performance during a trying 2020 (during which its ROIC of 15% still outperformed its cost of capital), and the firm's success in international markets [Relation] enable [Effect] McDonald's will continue to earn excess returns over an extended period",
    "gold": "[Cause] The strength of recent technological investments, the company's strong performance during a trying 2020 (during which its ROIC of 15% still outperformed its cost of capital), and the firm's success in international markets [Relation] enable [Effect] McDonald's will continue to earn excess returns over an extended period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Televisa can retain a dominant position because of its huge market share and programming prowess, even though the government has granted a license for a new entrant into the broadcast market.",
    "output": "[Cause] its huge market share and programming prowess [Relation] cause [Effect] Televisa can retain a dominant position",
    "gold": "[Cause] its huge market share and programming prowess [Relation] cause [Effect] a new entrant into the broadcast market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We have greater than 50% confidence that Phillips 66 Partners can generate economic profits during at least the next 10 years based on its efficient-scale competitive advantage.",
    "output": "[Cause] its efficient-scale competitive advantage [Relation] enable [Effect] Phillips 66 Partners can generate economic profits during at least the next 10 years",
    "gold": "[Cause] its efficient-scale competitive advantage [Relation] enable [Effect] Phillips 66 Partners can generate economic profits during at least the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Selling, general, and administrative expenses (less depreciation) were around $40 per square foot in fiscal 2019, suggesting that the simple assortment (limited to about 7,000 basic items alongside seasonal products) and low-cost stores also advantage that chain's cost position.",
    "output": "[Cause] Selling, general, and administrative expenses (less depreciation) were around $40 per square foot in fiscal 2019 [Relation] cause [Effect] the simple assortment (limited to about 7,000 basic items alongside seasonal products) and low-cost stores also advantage that chain's cost position",
    "gold": "[Cause] the simple assortment (limited to about 7,000 basic items alongside seasonal products) and low-cost stores [Relation] enable [Effect] advantage that chain's cost position",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, over time, improved gross margin results from strong private-label penetration and better operating expense leverage from scale gains could lead to operating margins that rise modestly every year, leading to 10% long-term metrics, in line with the 10% captured in 2020.",
    "output": "[Cause] strong private-label penetration and better operating expense leverage from scale gains [Relation] cause [Effect] improved gross margin",
    "gold": "[Cause] scale gains [Relation] cause [Effect] better operating expense leverage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, over time, improved gross margin results from strong private-label penetration and better operating expense leverage from scale gains could lead to operating margins that rise modestly every year, leading to 10% long-term metrics, in line with the 10% captured in 2020.",
    "output": "[Cause] scale gains [Relation] cause [Effect] operating margins that rise modestly every year, leading to 10% long-term metrics",
    "gold": "[Cause] strong private-label penetration [Relation] cause [Effect] improved gross margin",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, over time, improved gross margin results from strong private-label penetration and better operating expense leverage from scale gains could lead to operating margins that rise modestly every year, leading to 10% long-term metrics, in line with the 10% captured in 2020.",
    "output": "[Cause] scale gains [Relation] cause [Effect] operating margins that rise modestly every year",
    "gold": "[Cause] operating margins [Relation] cause [Effect] 10% long-term metrics, in line with the 10% captured in 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, the Macau market is highly regulated, and as a result, the pace and timing of growth are at the discretion of the government.",
    "output": "[Cause] the Macau market is highly regulated [Relation] cause [Effect] the pace and timing of growth are at the discretion of the government",
    "gold": "[Cause] the Macau market is highly regulated [Relation] cause [Effect] the pace and timing of growth are at the discretion of the government",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Complex devices and procedures require greater practitioner education and product support that have helped protect brand loyalty in the past, but the growth of lower-priced competitors has eroded intangible competitive advantages.",
    "output": "[Cause] the growth of lower-priced competitors [Relation] prevent [Effect] intangible competitive advantages",
    "gold": "[Cause] the growth of lower-priced competitors [Relation] prevent [Effect] intangible competitive advantages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In Franklin's case, we expect adjusted operating margins will be dragged down into a 22%-25% range (from 27.0% during fiscal 2019), especially with the cost savings coming from the Legg Mason deal during 2020-24 likely to be eaten away by competitive pressures.",
    "output": "[Cause] competitive pressures [Relation] cause [Effect] the cost savings coming from the Legg Mason deal during 2020-24 likely to be eaten away",
    "gold": "[Cause] competitive pressures [Relation] cause [Effect] the cost savings coming from the Legg Mason deal during 2020-24 likely to be eaten away",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast only modest margin expansion over the next few years, as we believe the inherent scalability of the business will be largely offset by an increase in transaction expense, driven by the company's move toward offering consumers more payment choices.",
    "output": "[Cause] the inherent scalability of the business will be largely offset by an increase in transaction expense, driven by the company's move toward offering consumers more payment choices [Relation] cause [Effect] only modest margin expansion over the next few years",
    "gold": "[Cause] the inherent scalability of the business will be largely offset by an increase in transaction expense, driven by the company's move toward offering consumers more payment choices [Relation] cause [Effect] only modest margin expansion over the next few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are increasing our fair value estimate to $183 per share from $153 to reflect the acquisitions of Livongo and InTouch.",
    "output": "[Cause] reflect the acquisitions of Livongo and InTouch [Relation] cause [Effect] We are increasing our fair value estimate to $183 per share from $153",
    "gold": "[Cause] reflect the acquisitions of Livongo and InTouch [Relation] cause [Effect] We are increasing our fair value estimate to $183 per share from $153",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Competition is strong but several of the firm's end markets are also very fragmented, particularly industrial sensors, giving Amphenol and its global manufacturing and engineering footprint opportunities to significantly increase share by acquiring smaller players.",
    "output": "[Cause] several of the firm's end markets are also very fragmented, particularly industrial sensors [Relation] cause [Effect] Amphenol and its global manufacturing and engineering footprint opportunities to significantly increase share by acquiring smaller players",
    "gold": "[Cause] several of the firm's end markets are also very fragmented [Relation] cause [Effect] giving Amphenol and its global manufacturing and engineering footprint opportunities to significantly increase share",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition to the fear of not having protection for the latest threat signatures or behavior-based anomaly detection, the various products CrowdStrike sells feed into switching costs.",
    "output": "[Cause] the various products CrowdStrike sells [Relation] cause [Effect] switching costs",
    "gold": "[Cause] the various products CrowdStrike sells [Relation] cause [Effect] switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume a 10-year compound annual growth rate of 9% for Twitter's user base and an 8% annual growth in average revenue per user, resulting in 17% annual revenue growth.",
    "output": "[Cause] a 10-year compound annual growth rate of 9% for Twitter's user base and an 8% annual growth in average revenue per user [Relation] cause [Effect] 17% annual revenue growth",
    "gold": "[Cause] a 10-year compound annual growth rate of 9% for Twitter's user base and an 8% annual growth in average revenue per user [Relation] cause [Effect] 17% annual revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The international exposure gives the bank the potential for higher growth and return opportunities compared with peers, but it also exposes the bank to more risks.",
    "output": "[Cause] The international exposure [Relation] enable [Effect] the bank the potential for higher growth and return opportunities compared with peers",
    "gold": "[Cause] The international exposure [Relation] cause [Effect] exposes the bank to more risks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "On a consolidated basis, we expect operating margins to remain fairly flat as increasing beverage can pricing offsets weaker pricing in food cans.",
    "output": "[Cause] increasing beverage can pricing offsets weaker pricing in food cans [Relation] cause [Effect] operating margins to remain fairly flat",
    "gold": "[Cause]  increasing beverage [Relation] prevent [Effect] weaker pricing in food cans",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "On a consolidated basis, we expect operating margins to remain fairly flat as increasing beverage can pricing offsets weaker pricing in food cans.",
    "output": "[Cause] increasing beverage can pricing offsets weaker pricing in food cans [Relation] cause [Effect] operating margins to remain fairly flat",
    "gold": "[Cause] increasing beverage can pricing offsets weaker pricing in food cans [Relation] cause [Effect] operating margins to remain fairly flat",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Five Below's low price points currently help insulate it from digital retail's continued advance, particularly as online sellers need to absorb shipping costs.",
    "output": "[Cause] Five Below's low price points [Relation] enable [Effect] insulate it from digital retail's continued advance",
    "gold": "[Cause] Five Below's low price points [Relation] enable [Effect] insulate it from digital retail's continued advance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "More specifically, Amgen's overall pricing power could wane if proposed reductions in Medicare Part B reimbursement are implemented, given the firm's reliance on the Medicare for a high proportion of sales.",
    "output": "[Cause] proposed reductions in Medicare Part B reimbursement are implemented [Relation] cause [Effect] Amgen's overall pricing power could wane",
    "gold": "[Cause] proposed reductions in Medicare Part B reimbursement are implemented [Relation] cause [Effect] Amgen's overall pricing power could wane",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "More specifically, Amgen's overall pricing power could wane if proposed reductions in Medicare Part B reimbursement are implemented, given the firm's reliance on the Medicare for a high proportion of sales.",
    "output": "[Cause] proposed reductions in Medicare Part B reimbursement are implemented [Relation] cause [Effect] Amgen's overall pricing power could wane",
    "gold": "[Cause] the firm's reliance on the Medicare for a high proportion of sales [Relation] cause [Effect] Amgen's overall pricing power could wane",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "New product launches, including several new infusion pumps, may boost growth in these segments as well, assuming capital equipment budgets do not freeze up at hospital clients.",
    "output": "[Cause] capital equipment budgets do not freeze up at hospital clients [Relation] cause [Effect] New product launches, including several new infusion pumps, may boost growth in these segments as well",
    "gold": "[Cause] New product launches, including several new infusion pumps [Relation] cause [Effect] boost growth in these segments as well",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think the move upstream and cross-selling will allow Square to materially improve margins in the years ahead and show the viability of its business model.",
    "output": "[Cause] the move upstream and cross-selling [Relation] enable [Effect] Square to materially improve margins in the years ahead and show the viability of its business model",
    "gold": "[Cause] the move upstream and cross-selling [Relation] enable [Effect] Square to materially improve margins in the years ahead and show the viability of its business model",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We view the residential portion of lighting as commoditized and price-competitive, given the rise of Chinese competitors willing to undercut more established competitors.",
    "output": "[Cause] the rise of Chinese competitors willing to undercut more established competitors [Relation] cause [Effect] We view the residential portion of lighting as commoditized and price-competitive",
    "gold": "[Cause] the rise of Chinese competitors willing to undercut more established competitors [Relation] cause [Effect] We view the residential portion of lighting as commoditized and price-competitive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Royal is set to redeploy its fleet over time, its prior 20>25 by 2025 target (EPS to $20 by 2025) is virtually impossible to reach as a result of secular changes in demand due to COVID-19.",
    "output": "[Cause] secular changes in demand due to COVID-19 [Relation] cause [Effect] its prior 20>25 by 2025 target (EPS to $20 by 2025) is virtually impossible to reach",
    "gold": "[Cause] secular changes in demand due to COVID-19 [Relation] cause [Effect]  its prior 20>25 by 2025 target (EPS to $20 by 2025) is virtually impossible to reach",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, the bank is expanding its corporate banking offerings by building out its M&amp;A platform as well as its capital markets offerings capabilities.",
    "output": "[Cause] building out its M&amp;A platform as well as its capital markets offerings capabilities [Relation] enable [Effect] the bank is expanding its corporate banking offerings",
    "gold": "[Cause] building out its M&amp;A platform as well as its capital markets offerings capabilities [Relation] enable [Effect] the bank is expanding its corporate banking offerings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management believes the existing branch network is rightsized and serves an important role in the company; however, we think the number of branches could continue to decline in the coming years as order trends continue to shift away from the branches.",
    "output": "[Cause] order trends continue to shift away from the branches [Relation] cause [Effect] the number of branches could continue to decline in the coming years",
    "gold": "[Cause] order trends continue to shift away from the branches [Relation] cause [Effect] the number of branches could continue to decline in the coming years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Most cities across the United States are typically less restrictive from a zoning perspective and land is more widely available, making land prices lower and new construction easier to build.",
    "output": "[Cause] Most cities across the United States are typically less restrictive from a zoning perspective and land is more widely available [Relation] cause [Effect] land prices lower and new construction easier to build",
    "gold": "[Cause] Most cities across the United States are typically less restrictive from a zoning perspective and land is more widely available [Relation] cause [Effect]  land prices lower and new construction easier to build",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Frac spreads have much shorter useful lives than drilling rigs, so entry into and exit from the market is easier, allowing supply/demand imbalances to correct more easily.",
    "output": "[Cause] Frac spreads have much shorter useful lives than drilling rigs [Relation] cause [Effect] entry into and exit from the market is easier",
    "gold": "[Cause] Frac spreads have much shorter useful lives than drilling rigs [Relation] cause [Effect] entry into and exit from the market is easier",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Frac spreads have much shorter useful lives than drilling rigs, so entry into and exit from the market is easier, allowing supply/demand imbalances to correct more easily.",
    "output": "[Cause] entry into and exit from the market is easier [Relation] enable [Effect] supply/demand imbalances to correct more easily",
    "gold": "[Cause] entry into and exit from the market is easier [Relation] cause [Effect] supply/demand imbalances to correct more easily",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Franchise dealers have tried the no-haggle approach in the past but have been unsuccessful because their salespeople pursue deals with high gross profit.",
    "output": "[Cause] their salespeople pursue deals with high gross profit [Relation] cause [Effect] Franchise dealers have tried the no-haggle approach in the past but have been unsuccessful",
    "gold": "[Cause] their salespeople pursue deals with high gross profit [Relation] cause [Effect] Franchise dealers have tried the no-haggle approach in the past but have been unsuccessful",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cerner's mixed execution on the rollout of its RCM software was a notable factor that resulted in the loss of a major customer, AdventHealth, in 2020.",
    "output": "[Cause] Cerner's mixed execution on the rollout of its RCM software [Relation] cause [Effect] the loss of a major customer, AdventHealth, in 2020",
    "gold": "[Cause] Cerner's mixed execution on the rollout of its RCM software [Relation] cause [Effect] the loss of a major customer, AdventHealth, in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The cereal business (42% of fiscal 2020 revenue) has been declining (outside of the pandemic) as consumers have shifted away from processed, high-sugar, high-carbohydrate fare.",
    "output": "[Cause] consumers have shifted away from processed, high-sugar, high-carbohydrate fare [Relation] cause [Effect] The cereal business (42% of fiscal 2020 revenue) has been declining (outside of the pandemic)",
    "gold": "[Cause] consumers have shifted away from processed, high-sugar, high-carbohydrate fare [Relation] cause [Effect] The cereal business (42% of fiscal 2020 revenue) has been declining (outside of the pandemic)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through high-grading and cost improvements, the company has reduced the oil price necessary to earn a 10% return on produced resource in its plan to $28/bbl.",
    "output": "[Cause] high-grading and cost improvements [Relation] enable [Effect] the company has reduced the oil price necessary to earn a 10% return on produced resource in its plan to $28/bbl",
    "gold": "[Cause] company has reduced the oil price necessary [Relation] enable [Effect] earn a 10% return on produced resource",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The growing reliance on hybrid cloud models, where businesses use a combination of their own hardware and cloud services, makes Equinix's prospects bright.",
    "output": "[Cause] The growing reliance on hybrid cloud models, where businesses use a combination of their own hardware and cloud services [Relation] enable [Effect] makes Equinix's prospects bright",
    "gold": "[Cause] The growing reliance on hybrid cloud models, where businesses use a combination of their own hardware and cloud services [Relation] enable [Effect] makes Equinix's prospects bright",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The bank has been expanding its domestic wealth operations significantly with its acquisitions of MD Financial and Jarislowsky Fraser, making it the third-largest active manager in Canada.",
    "output": "[Cause] its acquisitions of MD Financial and Jarislowsky Fraser [Relation] enable [Effect] The bank has been expanding its domestic wealth operations significantly",
    "gold": "[Cause] its acquisitions of MD Financial and Jarislowsky Fraser [Relation] cause [Effect] The bank has been expanding its domestic wealth operations significantly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The bank has been expanding its domestic wealth operations significantly with its acquisitions of MD Financial and Jarislowsky Fraser, making it the third-largest active manager in Canada.",
    "output": "[Cause] The bank has been expanding its domestic wealth operations significantly [Relation] enable [Effect] it the third-largest active manager in Canada",
    "gold": "[Cause] The bank has been expanding its domestic wealth operations significantly [Relation] cause [Effect] it the third-largest active manager in Canada",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Capri achieved an adjusted operating margin of nearly 14% in fiscal 2020, but the sales drop is likely to result in reduced expense leverage despite an expected 20% decline in operating expenses.",
    "output": "[Cause] the sales drop [Relation] cause [Effect] reduced expense leverage",
    "gold": "[Cause] the sales drop [Relation] cause [Effect] reduced expense leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect continued revenue growth volatility at NBCU, given the timing of big live broadcasting events, notably the Olympics, and the sporadic nature of movie releases.",
    "output": "[Cause] the timing of big live broadcasting events, notably the Olympics, and the sporadic nature of movie releases [Relation] cause [Effect] We expect continued revenue growth volatility at NBCU",
    "gold": "[Cause]  continued revenue growth volatility at NBCU, given the timing of big live broadcasting events [Relation] enable [Effect] notably the Olympics, and the sporadic nature of movie releases",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, if management were to hypothetically to turn off the acquisition spigot, we believe the firm's reported ROICs would likely rise.",
    "output": "[Cause] management were to hypothetically to turn off the acquisition spigot [Relation] cause [Effect] the firm's reported ROICs would likely rise",
    "gold": "[Cause] management were to hypothetically to turn off the acquisition spigot [Relation] enable [Effect] the firm's reported ROICs would likely rise",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Restaurants, in general, are also susceptible to negative publicity tied to food quality concerns, which can result in substantial drops in near-term foot traffic.",
    "output": "[Cause] negative publicity tied to food quality concerns [Relation] cause [Effect] substantial drops in near-term foot traffic",
    "gold": "[Cause] negative publicity tied to food quality concerns [Relation] cause [Effect] substantial drops in near-term foot traffic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given a tight supply of land and water (potatoes require irrigation), it is very difficult to meaningfully increase the supply of potatoes, and farmers focus on improving yield in order to meet the growing demand of the four processors.",
    "output": "[Cause] farmers focus on improving yield [Relation] enable [Effect] meet the growing demand of the four processors",
    "gold": "[Cause] farmers focus on improving yield [Relation] enable [Effect] meet the growing demand of the four processors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Kraft Heinz's intent focus on extracting costs (at the expense of brand spending) has resulted in the degradation of its brand intangible asset, eroding its brands and retail relationships.",
    "output": "[Cause] Kraft Heinz's intent focus on extracting costs (at the expense of brand spending) [Relation] cause [Effect] the degradation of its brand intangible asset, eroding its brands and retail relationships",
    "gold": "[Cause]  Kraft Heinz's intent focus on extracting costs (at the expense of brand spending) [Relation] cause [Effect]  the degradation of its brand intangible asset, eroding its brands and retail relationships",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Anything that is not consistent with the zeitgeist, which can manifest in anything from a misguided marketing campaign to disregard for human capital, gives rise to the possibility that a company's business model will be disrupted.",
    "output": "[Cause] Anything that is not consistent with the zeitgeist [Relation] cause [Effect] the possibility that a company's business model will be disrupted",
    "gold": "[Cause] Anything that is not consistent with the zeitgeist [Relation] cause [Effect] the possibility that a company's business model will be disrupted",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because the Suddenlink territory covers smaller cities and towns, AT&amp;T hasn't invested heavily in its networks in these markets, with U-verse likely available in around 10% of the Suddenlink territory.",
    "output": "[Cause] the Suddenlink territory covers smaller cities and towns [Relation] cause [Effect] AT&amp;T hasn't invested heavily in its networks in these markets, with U-verse likely available in around 10% of the Suddenlink territory",
    "gold": "[Cause]  the Suddenlink territory covers smaller cities and towns [Relation] cause [Effect] AT&amp;T hasn't invested heavily in its networks in these markets, with U-verse likely available in around 10% of the Suddenlink territory",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "BCE also distinguishes itself from competitors with a high-quality and diversified media unit (Rogers is the only other Canadian telecom firm with media exposure, and we think BCE's has superior assets).",
    "output": "[Cause] a high-quality and diversified media unit [Relation] enable [Effect] BCE also distinguishes itself from competitors",
    "gold": "[Cause] a high-quality and diversified media unit | BCE's has superior assets [Relation] enable [Effect] BCE also distinguishes itself from competitors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Reflecting a new appreciation of the stability of Merck's diverse operations in any environment after 2020's strong results, we are reducing our uncertainty rating to medium from high previously.",
    "output": "[Cause] Reflecting a new appreciation of the stability of Merck's diverse operations in any environment after 2020's strong results [Relation] cause [Effect] we are reducing our uncertainty rating to medium from high previously",
    "gold": "[Cause] Reflecting a new appreciation of the stability of Merck's diverse operations in any environment after 2020's strong results [Relation] cause [Effect] we are reducing our uncertainty rating to medium from high previously",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect 5G will provide incremental capacity to meet growing mobile wireless demands, but serving in-home needs is a challenge an order of magnitude larger.",
    "output": "[Cause] 5G will provide incremental capacity [Relation] enable [Effect] meet growing mobile wireless demands",
    "gold": "[Cause] 5G will provide incremental capacity [Relation] enable [Effect] meet growing mobile wireless demands",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Long-term contracts that include both development and production, as well as high customer switching costs, promote sticky market share for vehicular electrical and electronic products.",
    "output": "[Cause] Long-term contracts that include both development and production, as well as high customer switching costs [Relation] enable [Effect] promote sticky market share for vehicular electrical and electronic products",
    "gold": "[Cause] Long-term contracts that include both development and production, as well as high customer switching costs [Relation] enable [Effect] promote sticky market share for vehicular electrical and electronic products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Maxim has historically been well-positioned with one such titan, securing a key analog chip supplier relationship with Samsung in its high-end handsets and tablets. This position led to strong growth in years past as Samsung gained meaningful share in these end markets, but some hard times as well when Samsung's smartphone sales were slumping.",
    "output": "[Cause] Maxim has historically been well-positioned with one such titan, securing a key analog chip supplier relationship with Samsung in its high-end handsets and tablets [Relation] cause [Effect] strong growth in years past as Samsung gained meaningful share in these end markets, but some hard times as well when Samsung's smartphone sales were slumping",
    "gold": "[Cause] Maxim has historically been well-positioned with one such titan, securing a key analog chip supplier relationship with Samsung in its high-end handsets and tablets [Relation] cause [Effect] strong growth in years past as Samsung gained meaningful share in these end markets, but some hard times as well when Samsung's smartphone sales were slumping",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The strength of the brand leads to consistently high resale values of Deere equipment and what appears to be a slight price premium.",
    "output": "[Cause] The strength of the brand [Relation] cause [Effect] consistently high resale values of Deere equipment and what appears to be a slight price premium",
    "gold": "[Cause] The strength of the brand leads to consistently high resale values of Deere equipment and [Relation] enable [Effect]  appears to be a slight price premium.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We don't foresee significant environmental, social, or governance (ESG) risk for Monolithic Power, but its greatest risk on this front would be in regard to human capital.",
    "output": "[Cause] human capital [Relation] cause [Effect] its greatest risk on this front",
    "gold": "[Cause]  human capital [Relation] prevent [Effect] Monolithic Power",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think this is important because as technology plays an increasing role in the industrial Internet of Things race, having workers trained and comfortable with that technology becomes increasingly critical.",
    "output": "[Cause] technology plays an increasing role in the industrial Internet of Things race [Relation] cause [Effect] having workers trained and comfortable with that technology becomes increasingly critical",
    "gold": "[Cause]  technology plays an increasing role in the industrial Internet of Things race [Relation] cause [Effect]  having workers trained and comfortable with that technology becomes increasingly critical",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Refining is a fragmented, capital-intensive, and competitive industry where firms have little pricing power on feedstock and end products.",
    "output": "[Cause] firms have little pricing power on feedstock and end products [Relation] cause [Effect] Refining is a fragmented, capital-intensive, and competitive industry",
    "gold": "[Cause]  firms have little pricing power on feedstock and end products [Relation] cause [Effect] Refining is a fragmented, capital-intensive, and competitive industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customer concentration levels in American Tower's other geographies range between 60% and 80% and should increase as carrier consolidation in those markets continues.",
    "output": "[Cause] carrier consolidation in those markets continues [Relation] cause [Effect] Customer concentration levels in American Tower's other geographies range between 60% and 80% and should increase",
    "gold": "[Cause] carrier consolidation in those markets continues [Relation] cause [Effect] Customer concentration levels in American Tower's other geographies range between 60% and 80% and should increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the recent migration of wealth to urban centers has been a boon to Empire State Realty, these dynamics can reverse, with such shifts having the potential to have a dramatic impact on the company's fortunes.",
    "output": "[Cause] these dynamics can reverse [Relation] cause [Effect] having the potential to have a dramatic impact on the company's fortunes",
    "gold": "[Cause] these dynamics can reverse [Relation] enable [Effect] having the potential to have a dramatic impact on the company's fortunes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In these industries, Skyworks appears to be profiting from longer product life cycles and steadier pricing due to fewer volume discounts.",
    "output": "[Cause] fewer volume discounts [Relation] cause [Effect] longer product life cycles and steadier pricing",
    "gold": "[Cause] fewer volume discounts [Relation] cause [Effect] longer product life cycles and steadier pricing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In these industries, Skyworks appears to be profiting from longer product life cycles and steadier pricing due to fewer volume discounts.",
    "output": "[Cause] fewer volume discounts [Relation] cause [Effect] Skyworks appears to be profiting from longer product life cycles and steadier pricing",
    "gold": "[Cause] longer product life cycles and steadier pricing [Relation] enable [Effect] Skyworks |  to be profiting",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think Prime subscriptions and the accompanying benefits, combined with selection, price, and convenience continue to drive the retail story.",
    "output": "[Cause] Prime subscriptions and the accompanying benefits, combined with selection, price, and convenience [Relation] enable [Effect] drive the retail story",
    "gold": "[Cause] Prime subscriptions and the accompanying benefits, combined with selection, price, and convenience [Relation] cause [Effect] drive the retail story",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The strong balance sheet and resilience during the pandemic puts Discover in a good position to recover from the uncertainty of 2020.",
    "output": "[Cause] The strong balance sheet and resilience during the pandemic [Relation] enable [Effect] Discover in a good position to recover from the uncertainty of 2020",
    "gold": "[Cause] The strong balance sheet and resilience during the pandemic [Relation] enable [Effect]  Discover in a good position to recover from the uncertainty of 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a persistent deficit, lower tax receipts anticipated in 2020, and a stimulus program that amounts to 15%-20% of 2019 GDP to deal with the fallout from COVID-19, the safety of government-issued securities is far from guaranteed.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] the safety of government-issued securities is far from guaranteed",
    "gold": "[Cause] amounts to 15%-20% of 2019 GDP [Relation] cause [Effect]  deal with the fallout from COVID-19",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With a persistent deficit, lower tax receipts anticipated in 2020, and a stimulus program that amounts to 15%-20% of 2019 GDP to deal with the fallout from COVID-19, the safety of government-issued securities is far from guaranteed.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] the safety of government-issued securities is far from guaranteed",
    "gold": "[Cause]  COVID-19 [Relation] cause [Effect]  the safety of government-issued securities is far from guaranteed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are increasing our fair value estimate to $1,096 from $1,007 per share, primarily due to equity market movements and time value since our last update.",
    "output": "[Cause] equity market movements and time value since our last update [Relation] cause [Effect] We are increasing our fair value estimate to $1,096 from $1,007 per share",
    "gold": "[Cause] equity market movements and time value since our last update [Relation] cause [Effect]  our fair value estimate to $1,096 from $1,007 per share, primarily",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With more requirements in order to register on the site, we think that most users felt Internet Content & Informationsafer to engage with other users from their schools and from other schools, than they did on other early social network websites like MySpace.",
    "output": "[Cause] more requirements in order to register on the site [Relation] cause [Effect] most users felt Internet Content & Informationsafer to engage with other users from their schools and from other schools, than they did on other early social network websites like MySpace",
    "gold": "[Cause] more requirements in order to register on the site [Relation] cause [Effect] most users felt Internet Content & Informationsafer to engage with other users from their schools and from other schools, than they did on other early social network websites like MySpace",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that Bausch has a history of making acquisitions to drive business growth, we're skeptical of the company' ability to develop a consistent organic pipeline.",
    "output": "[Cause] Bausch has a history of making acquisitions to drive business growth [Relation] cause [Effect] skeptical of the company' ability to develop a consistent organic pipeline",
    "gold": "[Cause] Bausch has a history of making acquisitions [Relation] enable [Effect] drive business growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We look for intermodal container repositioning costs to ease and box turns to improve this year as Class I rail service and terminal throughput recalibrate to strong demand.",
    "output": "[Cause] Class I rail service and terminal throughput recalibrate to strong demand [Relation] cause [Effect] intermodal container repositioning costs to ease and box turns to improve this year",
    "gold": "[Cause] Class I rail service and terminal throughput recalibrate to strong demand [Relation] enable [Effect]  intermodal container repositioning costs to ease and box turns to improve this year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, rising demand in home improvement stemming from consumers spending more time at home (due to COVID-19) has generated better cost leverage results faster than we had anticipated.",
    "output": "[Cause] consumers spending more time at home (due to COVID-19) [Relation] cause [Effect] rising demand in home improvement",
    "gold": "[Cause] rising demand in home improvement stemming from consumers spending more time at home (due to COVID-19) [Relation] cause [Effect] generated better cost leverage results faster than we had anticipated",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "FIFA, though, has been embroiled in corruption scandals since 2015 that have already led to convictions of more than two dozen officials.",
    "output": "[Cause] FIFA, though, has been embroiled in corruption scandals since 2015 [Relation] cause [Effect] convictions of more than two dozen officials",
    "gold": "[Cause] FIFA, though, has been embroiled in corruption scandals since 2015 [Relation] cause [Effect] convictions of more than two dozen officials",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Assembling systems is relatively easy work for any general contractor, one reason First Solar decided to exit the system construction business in 2019.",
    "output": "[Cause] Assembling systems is relatively easy work for any general contractor [Relation] cause [Effect] one reason First Solar decided to exit the system construction business in 2019",
    "gold": "[Cause] Assembling systems is relatively easy work for any general contractor [Relation] cause [Effect] one reason First Solar decided to exit the system construction business in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite the possibility of further changes to the ACA, we think any changes will still result in a coordinated value- and outcome-based system that will provide Healthpeak's current portfolio with strong tailwinds.",
    "output": "[Cause] any changes [Relation] cause [Effect] a coordinated value- and outcome-based system",
    "gold": "[Cause] we think any changes will still result in a coordinated value- and outcome-based system [Relation] enable [Effect] provide Healthpeak's current portfolio with strong tailwinds",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe Guardant is slightly ahead of peers in single-cancer screening, with the firm currently enrolling 10,000 people for its Eclipse clinical trial, which could lead to FDA approval by 2024 if the full trial supports initial promising data.",
    "output": "[Cause] the full trial supports initial promising data [Relation] cause [Effect] FDA approval by 2024",
    "gold": "[Cause] the full trial supports initial promising data [Relation] enable [Effect] FDA approval by 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, we believe mining markets will have limited upside, as fixed asset investment growth in China starts to slow, likely capping commodity price upside.",
    "output": "[Cause] fixed asset investment growth in China starts to slow [Relation] cause [Effect] mining markets will have limited upside",
    "gold": "[Cause] fixed asset investment growth in China starts to slow [Relation] cause [Effect] capping commodity price upside",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In recent years, Nordson has focused on expanding its medical business through M&A, and the company should benefit from favorable secular trends in healthcare, including an aging baby boomer population and growing demand for minimally invasive medical devices.",
    "output": "[Cause] Nordson has focused on expanding its medical business through M&A [Relation] enable [Effect] the company should benefit from favorable secular trends in healthcare, including an aging baby boomer population and growing demand for minimally invasive medical devices",
    "gold": "[Cause] Nordson has focused on expanding its medical business through M&A [Relation] enable [Effect] the company should benefit from favorable secular trends in healthcare, including an aging baby boomer population and growing demand for minimally invasive medical devices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that the rate of margin improvement that TransUnion has achieved in recent years won't be maintained, as the cost benefits from modernizing its data infrastructure have largely been realized.",
    "output": "[Cause] the cost benefits from modernizing its data infrastructure have largely been realized [Relation] cause [Effect] the rate of margin improvement that TransUnion has achieved in recent years won't be maintained",
    "gold": "[Cause] the cost benefits from modernizing its data infrastructure have largely been realized [Relation] enable [Effect] the rate of margin improvement that TransUnion has achieved in recent years won't be maintained",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The increased uncertainty rating also reflects a deteriorating macroeconomic outlook, including uncertainty in the energy end market due to the recent steep decline in oil prices.",
    "output": "[Cause] the recent steep decline in oil prices [Relation] cause [Effect] uncertainty in the energy end market",
    "gold": "[Cause] The increased uncertainty rating [Relation] enable [Effect]  reflects a deteriorating macroeconomic outlook, including uncertainty in the energy end market due to the recent steep decline in oil prices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, the firm sells semiconductors and components into cyclical markets, such as automotive and industrial, which exposes Arrow's revenue and profitability to economic downturns.",
    "output": "[Cause] the firm sells semiconductors and components into cyclical markets [Relation] cause [Effect] exposes Arrow's revenue and profitability to economic downturns",
    "gold": "[Cause]  the firm sells semiconductors and components into cyclical markets [Relation] cause [Effect] exposes Arrow's revenue and profitability to economic downturns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are raising our fair value estimate for CoStar to $84 per share from $78.60 due to a slight increase in our near-term revenue and profitability forecasts and due to the time value of money.",
    "output": "[Cause] a slight increase in our near-term revenue and profitability forecasts and due to the time value of money [Relation] cause [Effect] We are raising our fair value estimate for CoStar to $84 per share from $78.60",
    "gold": "[Cause] a slight increase in our near-term revenue and profitability forecasts and due to the time value of money [Relation] cause [Effect] We are raising our fair value estimate for CoStar to $84 per share from $78.60",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In total, we expect the life sciences segment's sales to grow 8% compounded annually during the next five years on double-digit growth of its process solutions division, mid-single-digit growth in applied solutions, and mid-single-digit growth in research solutions.",
    "output": "[Cause] double-digit growth of its process solutions division, mid-single-digit growth in applied solutions, and mid-single-digit growth in research solutions [Relation] cause [Effect] the life sciences segment's sales to grow 8% compounded annually during the next five years",
    "gold": "[Cause] double-digit growth of its process solutions division, mid-single-digit growth in applied solutions, and mid-single-digit growth in research solutions [Relation] enable [Effect] the life sciences segment's sales to grow 8% compounded annually during the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Employees need to be coached on how to use the system effectively to prevent inefficiencies with hiring, benefits, or payroll services; inaccurate execution of such processes could impede business operations.",
    "output": "[Cause] Employees need to be coached on how to use the system effectively [Relation] prevent [Effect] inefficiencies with hiring, benefits, or payroll services",
    "gold": "[Cause] inaccurate execution of such processes [Relation] prevent [Effect] business operations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Employees need to be coached on how to use the system effectively to prevent inefficiencies with hiring, benefits, or payroll services; inaccurate execution of such processes could impede business operations.",
    "output": "[Cause] inaccurate execution of such processes [Relation] prevent [Effect] business operations",
    "gold": "[Cause] Employees need to be coached on how to use the system effectively [Relation] enable [Effect]  to prevent inefficiencies with hiring, benefits, or payroll services",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Thanks to recent acquisitions, we expect GAAP margins in the mid-40s in the coming years before reaching 48% by mid-cycle at the end of our forecast, driven by the Internet of Things related sales that we expect to do the heavy lifting.",
    "output": "[Cause] recent acquisitions [Relation] cause [Effect] GAAP margins in the mid-40s in the coming years before reaching 48% by mid-cycle at the end of our forecast",
    "gold": "[Cause]  recent acquisitions [Relation] enable [Effect] GAAP margins in the mid-40s in the coming years before reaching 48% by mid-cycle at the end of our forecast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thanks to recent acquisitions, we expect GAAP margins in the mid-40s in the coming years before reaching 48% by mid-cycle at the end of our forecast, driven by the Internet of Things related sales that we expect to do the heavy lifting.",
    "output": "[Cause] the Internet of Things related sales [Relation] enable [Effect] do the heavy lifting",
    "gold": "[Cause] the Internet of Things related sales [Relation] enable [Effect] do the heavy lifting",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see Johnson Controls' prudent capital allocation strategy in tandem with a simplified business model that is clearly showing improving fundamentals as catalysts for the stock.",
    "output": "[Cause] improving fundamentals [Relation] enable [Effect] catalysts for the stock",
    "gold": "[Cause] Johnson Controls' prudent capital allocation strategy in tandem with a simplified business model [Relation] cause [Effect] improving fundamentals as catalysts for the stock",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To offset some of the decline, Eastman has been investing in capacity for other uses for its fibers, including fabrics and apparel.",
    "output": "[Cause] Eastman has been investing in capacity for other uses for its fibers, including fabrics and apparel [Relation] enable [Effect] offset some of the decline",
    "gold": "[Cause]  offset some of the decline [Relation] cause [Effect] Eastman has been investing in capacity for other uses for its fibers, including fabrics and apparel",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With top-line growth expected to be mixed during our forecast period, as the company deals with not only weaker AUM growth but industry-driven fee compression, the net result is a positive 1.3% compound annual growth rate for revenue during 2021-25.",
    "output": "[Cause] the company deals with not only weaker AUM growth but industry-driven fee compression [Relation] cause [Effect] top-line growth expected to be mixed during our forecast period",
    "gold": "[Cause]  the company deals with not only weaker AUM growth but industry-driven fee compression [Relation] cause [Effect] top-line growth expected to be mixed during our forecast period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Intense competition amid unsettled consumer habits as the digital channel grows and physical sellers innovate toward an omnichannel future constitutes the primary long-term risk to our outlook.",
    "output": "[Cause] Intense competition amid unsettled consumer habits as the digital channel grows and physical sellers innovate toward an omnichannel future [Relation] cause [Effect] the primary long-term risk to our outlook",
    "gold": "[Cause] the digital channel grows and physical sellers innovate toward an omnichannel future [Relation] cause [Effect] Intense competition amid unsettled consumer habits",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, several of Lilly's cancer drugs, such as Cyramza and Verzenio, should develop into blockbusters if additional clinical data holds up.",
    "output": "[Cause] additional clinical data holds up [Relation] cause [Effect] several of Lilly's cancer drugs, such as Cyramza and Verzenio, should develop into blockbusters",
    "gold": "[Cause] additional clinical data holds up [Relation] enable [Effect] several of Lilly's cancer drugs, such as Cyramza and Verzenio, should develop into blockbusters",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we do not expect resultant mid-single-digit revenue growth and resulting cost leverage to meaningfully improve margins from fiscal 2019's 13%, due to competition, wage pressure, and the need to keep perceived value high.",
    "output": "[Cause] competition, wage pressure, and the need to keep perceived value high [Relation] cause [Effect] we do not expect resultant mid-single-digit revenue growth and resulting cost leverage to meaningfully improve margins from fiscal 2019's 13%",
    "gold": "[Cause] competition, wage pressure, and the need to keep perceived value high [Relation] cause [Effect] resultant mid-single-digit revenue growth and resulting cost leverage to meaningfully improve margins from fiscal 2019's 13%,",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the longer term, the firm might need to replace the old network with fiber optic lines to meet customer demand for speeds only achievable through fiber technology.",
    "output": "[Cause] the firm might need to replace the old network with fiber optic lines [Relation] enable [Effect] meet customer demand for speeds only achievable through fiber technology",
    "gold": "[Cause] customer demand for speeds only achievable through fiber technology [Relation] cause [Effect] the firm might need to replace the old network with fiber optic lines",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, Ferguson's free cash flow generation has been strong during prior cyclical downturns because when sales slow, Ferguson can turn working capital into a source of cash.",
    "output": "[Cause] when sales slow, Ferguson can turn working capital into a source of cash [Relation] cause [Effect] Ferguson's free cash flow generation has been strong during prior cyclical downturns",
    "gold": "[Cause] when sales slow, Ferguson can turn working capital into a source of cash [Relation] cause [Effect] Ferguson's free cash flow generation has been strong during prior cyclical downturns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Spirit's sales are generally governed by fixed-price agreements and sometimes have volume-based discounts, which requires productivity increases to maintain margin when production increases.",
    "output": "[Cause] productivity increases [Relation] enable [Effect] maintain margin when production increases",
    "gold": "[Cause] productivity increases [Relation] enable [Effect] maintain margin when production increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we believe the proposed acquisition of Shaw is more likely than not to be approved by regulators, our model reflects Rogers' standalone business.",
    "output": "[Cause] our model reflects Rogers' standalone business [Relation] cause [Effect] the proposed acquisition of Shaw is more likely than not to be approved by regulators",
    "gold": "[Cause] our model reflects Rogers' standalone business [Relation] cause [Effect]  the proposed acquisition of Shaw is more likely than not to be approved by regulators",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the viability of these investments remain reliant on a commodity price recovery to drive an increase in drilling activity.",
    "output": "[Cause] a commodity price recovery [Relation] enable [Effect] drive an increase in drilling activity",
    "gold": "[Cause] an increase in drilling activity [Relation] enable [Effect] the viability of these investments",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We model 23% ad revenue growth for 2021 due to the economic recovery, which will be accompanied by higher ad spending across verticals, including travel.",
    "output": "[Cause] the economic recovery [Relation] cause [Effect] 23% ad revenue growth for 2021",
    "gold": "[Cause] the economic recovery [Relation] cause [Effect] higher ad spending across verticals, including travel",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We project sponsorship revenue will decline by 66% in 2020 because of the vastly lower number of events, cancellation of most festivals, and lower ad spending.",
    "output": "[Cause] cancellation of most festivals, and lower ad spending [Relation] cause [Effect] sponsorship revenue will decline by 66% in 2020",
    "gold": "[Cause] the vastly lower number of events, cancellation of most festivals [Relation] cause [Effect] sponsorship revenue will decline by 66% in 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Contact manufacturers are shielded by barriers to entry in the vision-care market that allow the firms to produce consistent economic profits.",
    "output": "[Cause] Contact manufacturers are shielded by barriers to entry in the vision-care market [Relation] enable [Effect] the firms to produce consistent economic profits",
    "gold": "[Cause] Contact manufacturers are shielded by barriers to entry in the vision-care market [Relation] enable [Effect] the firms to produce consistent economic profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It can take several weeks to fully pass the inflation through, which can lead to prolonged periods of margin compression.",
    "output": "[Cause] It can take several weeks to fully pass the inflation through [Relation] cause [Effect] prolonged periods of margin compression",
    "gold": "[Cause] It can take several weeks to fully pass the inflation through [Relation] cause [Effect] prolonged periods of margin compression",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These high expected growth rates (roughly 3 to 4 percentage points greater than company growth) have significant impact on Adidas' margins as Asia-Pacific is its most profitable market.",
    "output": "[Cause] Asia-Pacific is its most profitable market [Relation] cause [Effect] These high expected growth rates (roughly 3 to 4 percentage points greater than company growth) have significant impact on Adidas' margins",
    "gold": "[Cause] Asia-Pacific is its most profitable market [Relation] enable [Effect] These high expected growth rates (roughly 3 to 4 percentage points greater than company growth) have significant impact on Adidas' margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although OGE shares provide an attractive yield over 4.5% as of mid-May, we believe future dividend increases will only average about 1% annually as the utility reduces the payout ratio to the mid-70s over the next five years.",
    "output": "[Cause] the utility reduces the payout ratio to the mid-70s over the next five years [Relation] cause [Effect] future dividend increases will only average about 1% annually",
    "gold": "[Cause] the utility reduces the payout ratio to the mid-70s over the next five years [Relation] cause [Effect] future dividend increases will only average about 1% annually",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This demand resumption should support the continuation of near-term pricing and cost leverage, which should allow operating margin expansion in 2020 (to more than 9%).",
    "output": "[Cause] This demand resumption [Relation] enable [Effect] support the continuation of near-term pricing and cost leverage",
    "gold": "[Cause] This demand resumption [Relation] enable [Effect] support the continuation of near-term pricing and cost leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This demand resumption should support the continuation of near-term pricing and cost leverage, which should allow operating margin expansion in 2020 (to more than 9%).",
    "output": "[Cause] This demand resumption [Relation] enable [Effect] operating margin expansion in 2020 (to more than 9%)",
    "gold": "[Cause] support the continuation of near-term pricing and cost leverage [Relation] enable [Effect] allow operating margin expansion in 2020 (to more than 9%)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Due to the inherently fragile nature of sheets of glass as large as 100 square feet in area and as thin as 0.5 millimeters, the firm's display plants are located next to customer facilities to reduce the risk of lost inventory and to save on travel time and expense.",
    "output": "[Cause] the inherently fragile nature of sheets of glass as large as 100 square feet in area and as thin as 0.5 millimeters [Relation] cause [Effect] the firm's display plants are located next to customer facilities",
    "gold": "[Cause] the inherently fragile nature of sheets of glass as large as 100 square feet in area and as thin as 0.5 millimeters [Relation] cause [Effect] the firm's display plants are located next to customer facilities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to the inherently fragile nature of sheets of glass as large as 100 square feet in area and as thin as 0.5 millimeters, the firm's display plants are located next to customer facilities to reduce the risk of lost inventory and to save on travel time and expense.",
    "output": "[Cause] the firm's display plants are located next to customer facilities [Relation] enable [Effect] reduce the risk of lost inventory and to save on travel time and expense",
    "gold": "[Cause] the firm's display plants are located next to customer facilities [Relation] cause [Effect] reduce the risk of lost inventory and to save on travel time and expense",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, HP's products facilitate in the transfer of data, which may attract cybercriminals, and its solutions are tasked with protecting customers from cyberattacks, making data privacy and security a key concern.",
    "output": "[Cause] HP's products facilitate in the transfer of data [Relation] cause [Effect] attract cybercriminals",
    "gold": "[Cause] HP's products facilitate in the transfer of data [Relation] cause [Effect]  attract cybercriminals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Along these lines, intangible assets and customer switching costs enable firms like Infineon to benefit from long useful lives associated with certain chip products, which leads to lower ongoing R&amp;D and capital expenditure.",
    "output": "[Cause] intangible assets and customer switching costs [Relation] enable [Effect] firms like Infineon to benefit from long useful lives associated with certain chip products",
    "gold": "[Cause] intangible assets and customer switching costs [Relation] enable [Effect] firms like Infineon to benefit from long useful lives associated with certain chip products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Along these lines, intangible assets and customer switching costs enable firms like Infineon to benefit from long useful lives associated with certain chip products, which leads to lower ongoing R&amp;D and capital expenditure.",
    "output": "[Cause] intangible assets and customer switching costs [Relation] enable [Effect] firms like Infineon to benefit from long useful lives associated with certain chip products",
    "gold": "[Cause] firms like Infineon to benefit from long useful lives associated with certain chip products [Relation] cause [Effect] lower ongoing R&amp;D and capital expenditure",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect profitability to hold steady long term as the company scales and takes share from independent and regional competitors, with adjusted operating margins remaining near fiscal 2020's 19% mark despite rising wages.",
    "output": "[Cause] the company scales and takes share from independent and regional competitors [Relation] cause [Effect] profitability to hold steady long term",
    "gold": "[Cause] the company scales and takes share from independent and regional competitors [Relation] enable [Effect] profitability to hold steady long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect profitability to hold steady long term as the company scales and takes share from independent and regional competitors, with adjusted operating margins remaining near fiscal 2020's 19% mark despite rising wages.",
    "output": "[Cause] the company scales and takes share from independent and regional competitors [Relation] cause [Effect] profitability to hold steady long term",
    "gold": "[Cause] profitability to hold steady long term [Relation] enable [Effect] adjusted operating margins remaining near fiscal 2020's 19% mark despite rising wages",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "And we surmise that by maintaining a leading position across a number of categories, Colgate is an even more valued partner for retailers.",
    "output": "[Cause] maintaining a leading position across a number of categories [Relation] enable [Effect] Colgate is an even more valued partner for retailers",
    "gold": "[Cause]  maintaining a leading position across a number of categories [Relation] cause [Effect] Colgate is an even more valued partner for retailers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Taking a broader view, the company materially built out its private client and capital markets businesses with its 2012 acquisition of Morgan Keegan from Regions Financial and 2016 acquisition of Deutsche Bank's U.S.",
    "output": "[Cause] its 2012 acquisition of Morgan Keegan from Regions Financial and 2016 acquisition of Deutsche Bank's U.S [Relation] enable [Effect] the company materially built out its private client and capital markets businesses",
    "gold": "[Cause]  its 2012 acquisition of Morgan Keegan from Regions Financial and 2016 acquisition of Deutsche Bank's U.S [Relation] enable [Effect] the company materially built out its private client and capital markets businesses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While there is evidence that these products enhance US Foods' margins, we don't think they enhance the firm's competitive advantage, as they are essentially agricultural commodities and therefore easy to replicate.",
    "output": "[Cause] they are essentially agricultural commodities [Relation] cause [Effect] easy to replicate",
    "gold": "[Cause] they are essentially agricultural commodities [Relation] cause [Effect] easy to replicate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A prolonged freeze in the credit markets could force the company to scale back growth expenditures, though utilities with healthy balance sheets saw little disruption even during the last financial crisis.",
    "output": "[Cause] healthy balance sheets [Relation] cause [Effect] little disruption even during the last financial crisis",
    "gold": "[Cause] healthy balance sheets [Relation] enable [Effect] little disruption even during the last financial crisis",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Still, the stores' criticality leaves the firm vulnerable to rising infection rates that could lead to further closures despite the assortment changes.",
    "output": "[Cause] the stores' criticality leaves the firm vulnerable to rising infection rates [Relation] cause [Effect] further closures",
    "gold": "[Cause] the stores' criticality leaves the firm vulnerable to rising infection rates [Relation] prevent [Effect]  further closures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the $4 billion global influenza vaccine market is already crowded and has poor pricing power, Moderna's technology could allow the firm to provide higher efficacy than traditional vaccines, which in a good year are only 60% effective.",
    "output": "[Cause] Moderna's technology [Relation] enable [Effect] the firm to provide higher efficacy than traditional vaccines",
    "gold": "[Cause] Moderna's technology [Relation] enable [Effect] the firm to provide higher efficacy than traditional vaccines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These run rates are below KCS's historical run rate due to efforts to materially rationalize the locomotive fleet as part of its PSR implementation.",
    "output": "[Cause] efforts to materially rationalize the locomotive fleet as part of its PSR implementation [Relation] cause [Effect] These run rates are below KCS's historical run rate",
    "gold": "[Cause] efforts to materially rationalize the locomotive fleet as part of its PSR implementation [Relation] cause [Effect] These run rates are below KCS's historical run rate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It also has the largest amount of assets under management and assets under administration among the Canadian banks, giving it the largest exposure to this higher-margin, fee-based business, and a larger share of clients' overall wealth.",
    "output": "[Cause] It also has the largest amount of assets under management and assets under administration among the Canadian banks [Relation] cause [Effect] the largest exposure to this higher-margin, fee-based business, and a larger share of clients' overall wealth",
    "gold": "[Cause] It also has the largest amount of assets under management and assets under administration among the Canadian banks [Relation] cause [Effect] the largest exposure to this higher-margin, fee-based business, and a larger share of clients' overall wealth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect LNG markets to remain oversupplied for several years, although we expect an eventual uptick in segment revenue and profitability as new projects are launched toward the end of our five-year forecast period.",
    "output": "[Cause] new projects are launched toward the end of our five-year forecast period [Relation] cause [Effect] an eventual uptick in segment revenue and profitability",
    "gold": "[Cause] new projects are launched toward the end of our five-year forecast period [Relation] cause [Effect] an eventual uptick in segment revenue and profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also forecast for profit of the pictures segment to drop in 2021 as the segment's profitability for fiscal 2020 is higher than usual--as Sony was able to save marketing and film production costs due to the pandemic--which would reverse in 2021.",
    "output": "[Cause] the segment's profitability for fiscal 2020 is higher than usual [Relation] cause [Effect] profit of the pictures segment to drop in 2021",
    "gold": "[Cause]  the segment's profitability for fiscal 2020 is higher than usual [Relation] prevent [Effect]  profit of the pictures segment to drop in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also forecast for profit of the pictures segment to drop in 2021 as the segment's profitability for fiscal 2020 is higher than usual--as Sony was able to save marketing and film production costs due to the pandemic--which would reverse in 2021.",
    "output": "[Cause] the segment's profitability for fiscal 2020 is higher than usual [Relation] cause [Effect] profit of the pictures segment to drop in 2021",
    "gold": "[Cause] save marketing and film production costs [Relation] cause [Effect] reverse in 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think Seagate is successfully transitioning its portfolio to focus on mass capacity drives for cloud providers and enterprises as consumer applications for legacy HDDs switch to faster flash-based solid state drives, or SSDs.",
    "output": "[Cause] consumer applications for legacy HDDs switch to faster flash-based solid state drives, or SSDs [Relation] cause [Effect] Seagate is successfully transitioning its portfolio to focus on mass capacity drives for cloud providers and enterprises",
    "gold": "[Cause] consumer applications for legacy HDDs switch to faster flash-based solid state drives, or SSDs [Relation] cause [Effect] Seagate is successfully transitioning its portfolio to focus on mass capacity drives for cloud providers and enterprises",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Firms such as Cushman &amp; Wakefield increasingly bundle services to provide a consolidated suite of offerings. This benefits Cushman &amp; Wakefield in that it can leverage certain parts of its business such as research and consulting, and it benefits clients, who receive a more customized and tailored experience.",
    "output": "[Cause] Firms such as Cushman &amp; Wakefield increasingly bundle services to provide a consolidated suite of offerings [Relation] enable [Effect] benefits Cushman &amp; Wakefield in that it can leverage certain parts of its business such as research and consulting, and it benefits clients, who receive a more customized and tailored experience",
    "gold": "[Cause] Firms such as Cushman &amp; Wakefield increasingly bundle services to provide a consolidated suite of offerings [Relation] enable [Effect] benefits Cushman &amp; Wakefield in that it can leverage certain parts of its business such as research and consulting, and it benefits clients, who receive a more customized and tailored experience",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect revenue generation to remain below its prepandemic levels in 2021 as the coronavirus continues to impact the company's results.",
    "output": "[Cause] the coronavirus continues to impact the company's results [Relation] cause [Effect] revenue generation to remain below its prepandemic levels in 2021",
    "gold": "[Cause] the coronavirus continues to impact the company's results [Relation] cause [Effect] revenue generation to remain below its prepandemic levels in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A poor crop will impact margins for two fiscal years, as each year's new harvest begins production in the firm's fiscal third quarter.",
    "output": "[Cause] each year's new harvest begins production in the firm's fiscal third quarter [Relation] cause [Effect] A poor crop will impact margins for two fiscal years",
    "gold": "[Cause] each year's new harvest begins production in the firm's fiscal third quarter [Relation] cause [Effect] A poor crop will impact margins for two fiscal years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Barrick was forced to re-evaluate operations at Lumwana after the acquisition, as prior owners boosted short-term production at the expense of long-term viability.",
    "output": "[Cause] prior owners boosted short-term production at the expense of long-term viability [Relation] cause [Effect] Barrick was forced to re-evaluate operations at Lumwana after the acquisition",
    "gold": "[Cause] prior owners boosted short-term production at the expense of long-term viability [Relation] enable [Effect] Barrick was forced to re-evaluate operations at Lumwana after the acquisition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Naturally, Cigna's new bulked-up service offerings should allow it to cross-sell PBM services into its managed-care client set and vice versa, opening up new profit streams with existing clientele.",
    "output": "[Cause] it to cross-sell PBM services into its managed-care client set and vice versa [Relation] enable [Effect] opening up new profit streams with existing clientele",
    "gold": "[Cause] it to cross-sell PBM services into its managed-care client set and vice versa [Relation] cause [Effect] opening up new profit streams with existing clientele",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While orphan drugs make headlines because of their high per-person cost, the overall burden on the healthcare system is minimal due to the small patient populations, especially compared with overall healthcare costs.",
    "output": "[Cause] their high per-person cost [Relation] cause [Effect] orphan drugs make headlines",
    "gold": "[Cause]  the small patient populations [Relation] cause [Effect] the overall burden on the healthcare system is minimal",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While orphan drugs make headlines because of their high per-person cost, the overall burden on the healthcare system is minimal due to the small patient populations, especially compared with overall healthcare costs.",
    "output": "[Cause] the small patient populations [Relation] cause [Effect] the overall burden on the healthcare system is minimal",
    "gold": "[Cause] their high per-person cost [Relation] cause [Effect] orphan drugs make headlines",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "But we think its been charting a new course, aiming to extract another $10 billion in costs to reduce head count and overhead, improve manufacturing efficiency, and free up funds to reinvest in its business.",
    "output": "[Cause] extract another $10 billion in costs [Relation] enable [Effect] reduce head count and overhead, improve manufacturing efficiency, and free up funds to reinvest in its business",
    "gold": "[Cause] aiming to extract another $10 billion [Relation] enable [Effect] to reduce head count and overhead, improve manufacturing efficiency, and free up funds to reinvest in its business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Relatedly, a greater shift by enterprises toward infrastructure as a service cloud adoption could reduce their own need for server space, as their data is shifted to cloud providers' servers and stored more efficiently.",
    "output": "[Cause] their data is shifted to cloud providers' servers and stored more efficiently [Relation] cause [Effect] a greater shift by enterprises toward infrastructure as a service cloud adoption could reduce their own need for server space",
    "gold": "[Cause] their data is shifted to cloud providers' servers and stored more efficiently [Relation] cause [Effect] a greater shift by enterprises toward infrastructure as a service cloud adoption could reduce their own need for server space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company must keep its plants operating at high availability levels to take advantage of the times when there are high margins in the wholesale power markets.",
    "output": "[Cause] The company must keep its plants operating at high availability levels [Relation] enable [Effect] take advantage of the times when there are high margins in the wholesale power markets",
    "gold": "[Cause] The company must keep its plants operating at high availability levels [Relation] enable [Effect] take advantage of the times when there are high margins in the wholesale power markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, in weakened environments, its professionals share in the pain, as the firm is able to significantly cut costs, helping preserve reasonable profits, cash flow, and ROIC.",
    "output": "[Cause] the firm is able to significantly cut costs, helping preserve reasonable profits, cash flow, and ROIC [Relation] cause [Effect] in weakened environments, its professionals share in the pain",
    "gold": "[Cause]  the firm is able to significantly cut costs, helping preserve reasonable profits, cash flow, and ROIC [Relation] cause [Effect]  in weakened environments, its professionals share in the pain",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Eaton's traditional offerings should further benefit from increased noise, weight, safety, and environmental regulations, since customers trust Eaton's reputation for reliability and compliance.",
    "output": "[Cause] customers trust Eaton's reputation for reliability and compliance [Relation] cause [Effect] Eaton's traditional offerings should further benefit from increased noise, weight, safety, and environmental regulations",
    "gold": "[Cause] customers trust Eaton's reputation for reliability and compliance [Relation] cause [Effect] Eaton's traditional offerings should further benefit from increased noise, weight, safety, and environmental regulations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we forecast the entire Canadian market to grow roughly 20% per year on average through 2030, driven by the conversion of black-market consumers into the legal market and new cannabis consumers.",
    "output": "[Cause] the conversion of black-market consumers into the legal market and new cannabis consumers [Relation] cause [Effect] the entire Canadian market to grow roughly 20% per year on average through 2030",
    "gold": "[Cause] the conversion of black-market consumers into the legal market and new cannabis consumers [Relation] cause [Effect] the entire Canadian market to grow roughly 20% per year on average through 2030",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We view winter weather and farmer planting decisions to be greater demand drivers for salt and fertilizer, respectively, which are typically the primary drivers in any given year.",
    "output": "[Cause] winter weather and farmer planting decisions [Relation] cause [Effect] greater demand drivers for salt and fertilizer",
    "gold": "[Cause] winter weather and farmer planting decisions [Relation] enable [Effect] greater demand drivers for salt and fertilizer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We look for net revenue growth to come in slightly lower (up 25%) than gross revenue growth due to gross profit margin (percentage) compression.",
    "output": "[Cause] gross profit margin (percentage) compression [Relation] cause [Effect] We look for net revenue growth to come in slightly lower (up 25%) than gross revenue growth",
    "gold": "[Cause] gross profit margin (percentage) compression [Relation] enable [Effect] We look for net revenue growth to come in slightly lower (up 25%) than gross revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Integrated oil companies can achieve competitive advantages through upstream or downstream operations, but the best achieve competitive advantages when upstream and downstream assets are aligned, such that one segment can recapture the economic rents that the other segment is losing.",
    "output": "[Cause] upstream or downstream operations [Relation] enable [Effect] Integrated oil companies can achieve competitive advantages",
    "gold": "[Cause] Integrated oil companies [Relation] enable [Effect] achieve competitive advantages through upstream or downstream operations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Integrated oil companies can achieve competitive advantages through upstream or downstream operations, but the best achieve competitive advantages when upstream and downstream assets are aligned, such that one segment can recapture the economic rents that the other segment is losing.",
    "output": "[Cause] upstream and downstream assets are aligned [Relation] enable [Effect] the best achieve competitive advantages",
    "gold": "[Cause] when upstream and downstream assets are aligned [Relation] enable [Effect] recapture the economic rents that the other segment is losing",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect a deterioration in asset quality to be limited higher credit cost and lower profitability, with the bank's balance sheet remaining intact.",
    "output": "[Cause] a deterioration in asset quality [Relation] cause [Effect] limited higher credit cost and lower profitability",
    "gold": "[Cause] the bank's balance sheet remaining intact [Relation] cause [Effect] We expect a deterioration in asset quality to be limited higher credit cost and lower profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, the company faces more risk, as it has moved into additional crowded markets such as travel and food delivery, while the returns generated from those markets are more likely to be minimal.",
    "output": "[Cause] it has moved into additional crowded markets such as travel and food delivery [Relation] cause [Effect] the company faces more risk",
    "gold": "[Cause]  it has moved into additional crowded markets such as travel and food delivery [Relation] cause [Effect] the company faces more risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If Boston Scientific's Lotus Edge device is easier to use, faster to use, or works in a broader range of patients, it could cut into the Sapien franchise.",
    "output": "[Cause] Boston Scientific's Lotus Edge device is easier to use, faster to use, or works in a broader range of patients [Relation] cause [Effect] cut into the Sapien franchise",
    "gold": "[Cause] Boston Scientific's Lotus Edge device is easier to use, faster to use, or works in a broader range of patients [Relation] cause [Effect] cut into the Sapien franchise",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are lifting our valuation of Target to $138 per share from $127, reflecting exceptional comparable growth after the holidays.",
    "output": "[Cause] exceptional comparable growth after the holidays [Relation] cause [Effect] We are lifting our valuation of Target to $138 per share from $127",
    "gold": "[Cause] We are lifting our valuation of Target to $138 per share from $127 [Relation] enable [Effect] reflecting exceptional comparable growth after the holidays",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The TV business is evolving, which will present challenges for NBCU, but we believe it has the breadth of assets to compete effectively.",
    "output": "[Cause] The TV business is evolving [Relation] cause [Effect] present challenges for NBCU",
    "gold": "[Cause] it has the breadth of assets [Relation] enable [Effect] compete effectively",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We are cutting our fair value estimate modestly to $36 from $37 after increasing our expectations for spending on wireless spectrum.",
    "output": "[Cause] increasing our expectations for spending on wireless spectrum [Relation] cause [Effect] We are cutting our fair value estimate modestly to $36 from $37",
    "gold": "[Cause]  increasing our expectations for spending on wireless spectrum [Relation] cause [Effect] We are cutting our fair value estimate modestly to $36 from $37",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, due to decreasing reliance on its personnel base, we assume Accenture will benefit from some operating leverage on the SG&A line, aiding in operating margin expansion from 14.7% in fiscal 2020 to 15.1% in fiscal 2025.",
    "output": "[Cause] decreasing reliance on its personnel base [Relation] cause [Effect] Accenture will benefit from some operating leverage on the SG&A line",
    "gold": "[Cause] decreasing reliance on its personnel base [Relation] cause [Effect] Accenture will benefit from some operating leverage on the SG&A line",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, due to decreasing reliance on its personnel base, we assume Accenture will benefit from some operating leverage on the SG&A line, aiding in operating margin expansion from 14.7% in fiscal 2020 to 15.1% in fiscal 2025.",
    "output": "[Cause] Accenture will benefit from some operating leverage on the SG&A line [Relation] enable [Effect] aiding in operating margin expansion from 14.7% in fiscal 2020 to 15.1% in fiscal 2025",
    "gold": "[Cause] Accenture will benefit from some operating leverage on the SG&A line [Relation] enable [Effect] aiding in operating margin expansion from 14.7% in fiscal 2020 to 15.1% in fiscal 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Frequently, business travelers use miles from a cobranded credit card to upgrade flights when their company is unwilling to pay a premium price.",
    "output": "[Cause] their company is unwilling to pay a premium price [Relation] cause [Effect] business travelers use miles from a cobranded credit card to upgrade flights",
    "gold": "[Cause]  their company is unwilling to pay a premium price [Relation] cause [Effect]  business travelers use miles from a cobranded credit card to upgrade flights",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As more key opinion leaders join Weibo, more users use Weibo to read view the key opinion leaders' content and engage with them through replying, sharing, and clicking the 'Like' button.",
    "output": "[Cause] more key opinion leaders join Weibo [Relation] cause [Effect] more users use Weibo to read view the key opinion leaders' content and engage with them through replying, sharing, and clicking the 'Like' button",
    "gold": "[Cause] more key opinion leaders join Weibo [Relation] cause [Effect] more users use Weibo to read view the key opinion leaders' content and engage with them through replying, sharing, and clicking the 'Like' button",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, we can see interest costs rising materially if the current low interest-rate regime gives way to a more historically normal level.",
    "output": "[Cause] the current low interest-rate regime gives way to a more historically normal level [Relation] cause [Effect] interest costs rising materially",
    "gold": "[Cause] the current low interest-rate regime gives way to a more historically normal level [Relation] enable [Effect]  interest costs rising materially",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This is partly explained because a strong network effect can have a flywheel effect and drive growth in other adjacent business lines, such as membership and subscription services, online-to-offline services, and cross-border trade.",
    "output": "[Cause] a strong network effect [Relation] cause [Effect] have a flywheel effect and drive growth in other adjacent business lines",
    "gold": "[Cause] a strong network effect [Relation] enable [Effect]  have a flywheel effect and drive growth in other adjacent business lines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With restaurant operators representing the bottom of the labor market stack, increased attention to minimum wage growth and worker benefits could pressure results, forcing restaurants to look for ways to keep costs in check by reducing their dependency on labor hours.",
    "output": "[Cause] pressure results [Relation] cause [Effect] forcing restaurants to look for ways to keep costs in check by reducing their dependency on labor hours",
    "gold": "[Cause] pressure results [Relation] enable [Effect]  forcing restaurants to look for ways to keep costs in check by reducing their dependency on labor hours",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the long term, we forecast the company will report a sustainable gross margin of 64% in the long term as it achieves premium pricing on its core products.",
    "output": "[Cause] it achieves premium pricing on its core products [Relation] cause [Effect] the company will report a sustainable gross margin of 64% in the long term",
    "gold": "[Cause]  it achieves premium pricing on its core products [Relation] cause [Effect]  the company will report a sustainable gross margin of 64% in the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect these returns to average 46% during the next five years, remaining strong and helped by continued cost leverage in fiscal 2022 stemming from higher volume demand as COVID-19 boosts the sales of outdoor products that offer social distancing.",
    "output": "[Cause] COVID-19 boosts the sales of outdoor products that offer social distancing [Relation] cause [Effect] higher volume demand",
    "gold": "[Cause] continued cost leverage in fiscal 2022 [Relation] cause [Effect]  these returns to average 46% during the next five years, remaining strong",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect these returns to average 46% during the next five years, remaining strong and helped by continued cost leverage in fiscal 2022 stemming from higher volume demand as COVID-19 boosts the sales of outdoor products that offer social distancing.",
    "output": "[Cause] COVID-19 boosts the sales of outdoor products that offer social distancing [Relation] cause [Effect] continued cost leverage in fiscal 2022",
    "gold": "[Cause] COVID-19 boosts the sales of outdoor products that offer social distancing [Relation] cause [Effect] higher volume demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect these returns to average 46% during the next five years, remaining strong and helped by continued cost leverage in fiscal 2022 stemming from higher volume demand as COVID-19 boosts the sales of outdoor products that offer social distancing.",
    "output": "[Cause] COVID-19 boosts the sales of outdoor products that offer social distancing [Relation] cause [Effect] continued cost leverage in fiscal 2022",
    "gold": "[Cause] higher volume demand [Relation] cause [Effect] continued cost leverage in fiscal 2022",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect the company will slow price hikes in the next few years due to the impact from increased competition at lower prices.",
    "output": "[Cause] the impact from increased competition at lower prices [Relation] cause [Effect] the company will slow price hikes in the next few years",
    "gold": "[Cause] We expect the company will slow price hikes in the next few years [Relation] cause [Effect]  the impact from increased competition at lower prices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We now expect regional revenue to grow 120% in 2021 versus 85% prior, driven by a faster recovery in demand, which is being aided by improving vaccination rates in the U.S.",
    "output": "[Cause] a faster recovery in demand [Relation] cause [Effect] regional revenue to grow 120% in 2021 versus 85% prior",
    "gold": "[Cause]  improving vaccination rates in the U.S. [Relation] enable [Effect] regional revenue to grow 120% in 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We now expect regional revenue to grow 120% in 2021 versus 85% prior, driven by a faster recovery in demand, which is being aided by improving vaccination rates in the U.S.",
    "output": "[Cause] improving vaccination rates in the U.S [Relation] enable [Effect] regional revenue to grow 120% in 2021 versus 85% prior",
    "gold": "[Cause] a faster recovery in demand [Relation] cause [Effect] regional revenue to grow 120% in 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Still, we believe harmonization of systems, technology-fueled analytics, and optimization of the supply chain and manufacturing apparatus will allow for margin expansion while reinvesting appropriately for growth.",
    "output": "[Cause] harmonization of systems, technology-fueled analytics, and optimization of the supply chain and manufacturing apparatus [Relation] enable [Effect] margin expansion while reinvesting appropriately for growth",
    "gold": "[Cause] harmonization of systems, technology-fueled analytics, and optimization of the supply chain and manufacturing apparatus [Relation] enable [Effect] margin expansion while reinvesting appropriately for growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, given Toll's luxury build-to-order focus and higher average selling price, we don't think the firm is as well positioned to capture demand from first-time millennial buyers as lower-priced homebuilders like D.R.",
    "output": "[Cause] Toll's luxury build-to-order focus and higher average selling price [Relation] prevent [Effect] the firm is as well positioned to capture demand from first-time millennial buyers as lower-priced homebuilders like D.R",
    "gold": "[Cause] Toll's luxury build-to-order focus and higher average selling price [Relation] prevent [Effect] capture demand from first-time millennial buyers as lower-priced homebuilders like D.R.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Loss of data could result in less traffic to Dotdash properties which will reduce demand from advertisers and possibly reverse the network effect of the Dotdash platform.",
    "output": "[Cause] Loss of data [Relation] cause [Effect] less traffic to Dotdash properties",
    "gold": "[Cause] Loss of data [Relation] cause [Effect] less traffic to Dotdash properties",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Loss of data could result in less traffic to Dotdash properties which will reduce demand from advertisers and possibly reverse the network effect of the Dotdash platform.",
    "output": "[Cause] Loss of data [Relation] cause [Effect] less traffic to Dotdash properties",
    "gold": "[Cause] less traffic to Dotdash properties [Relation] cause [Effect] reduce demand from advertisers and possibly reverse the network effect of the Dotdash platform",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, we think mobile technology enables retailers to more easily operate their own closed-loop networks, which would entirely bypass the traditional networks.",
    "output": "[Cause] mobile technology [Relation] enable [Effect] retailers to more easily operate their own closed-loop networks",
    "gold": "[Cause] mobile technology enables retailers to more easily operate their own closed-loop networks [Relation] enable [Effect] entirely bypass the traditional networks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Beyond the synergistic value creation, the Isle and Tropicana/Elgin deals, along with the Caesars acquisition, have meaningfully increased Eldorado's presence in the U.S.",
    "output": "[Cause] the Isle and Tropicana/Elgin deals, along with the Caesars acquisition [Relation] enable [Effect] meaningfully increased Eldorado's presence in the U.S",
    "gold": "[Cause] the Isle and Tropicana/Elgin deals, along with the Caesars acquisition [Relation] cause [Effect] meaningfully increased Eldorado's presence in the U.S",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Focus on more profitable DIY customers as well as rising infrastructure and inventory leverage should lead segment margins to approach 10% long term from 7.6% in 2019.",
    "output": "[Cause] Focus on more profitable DIY customers as well as rising infrastructure and inventory leverage [Relation] enable [Effect] segment margins to approach 10% long term from 7.6% in 2019",
    "gold": "[Cause] Focus on more profitable DIY customers as well as rising infrastructure and inventory leverage [Relation] enable [Effect] segment margins to approach 10% long term from 7.6% in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To produce flat-panel glass to be used in televisions, Corning uses its proprietary \"\"\"\"fusion draw\"\"\"\" process.",
    "output": "[Cause] Corning uses its proprietary \"\"\"\"fusion draw\"\"\" process [Relation] enable [Effect] produce flat-panel glass to be used in televisions",
    "gold": "[Cause] Corning uses its proprietary \"\"\"\"fusion draw\"\"\"\" process [Relation] enable [Effect]  produce flat-panel glass to be used in televisions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Macerich derives more than 80% of its net operating income from Class A malls and 90% of its NOI from B+ or better malls, while Class C+ or lower malls make up only 7% of Macerich's NOI. Therefore, when we think of Macerich's future, we should not assume it follows the path of the average mall but rather the path of the Class A mall.",
    "output": "[Cause] Macerich derives more than 80% of its net operating income from Class A malls and 90% of its NOI from B+ or better malls, while Class C+ or lower malls make up only 7% of Macerich's NOI [Relation] cause [Effect] when we think of Macerich's future, we should not assume it follows the path of the average mall but rather the path of the Class A mall",
    "gold": "[Cause] Macerich derives more than 80% of its net operating income from Class A malls and 90% of its NOI from B+ or better malls, while Class C+ or lower malls make up only 7% of Macerich's NOI [Relation] cause [Effect]  when we think of Macerich's future, we should not assume it follows the path of the average mall but rather the path of the Class A mall",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, we view the strong traction of recently launched high-margin drugs in immunology and oncology as supporting the overall profitability gains.",
    "output": "[Cause] the strong traction of recently launched high-margin drugs in immunology and oncology [Relation] enable [Effect] supporting the overall profitability gains",
    "gold": "[Cause] the strong traction of recently launched high-margin drugs in immunology and oncology [Relation] cause [Effect] supporting the overall profitability gains",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The breadth of Descartes' network was on display during the coronavirus pandemic that idled manufacturing facilities in China and forced the supply chain to be both creative and flexible.",
    "output": "[Cause] The breadth of Descartes' network was on display during the coronavirus pandemic [Relation] cause [Effect] idled manufacturing facilities in China and forced the supply chain to be both creative and flexible",
    "gold": "[Cause] idled manufacturing facilities in China [Relation] cause [Effect] the supply chain to be both creative and flexible",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Growth in customers has led to rapid expansion in CSUM, which has grown over 50% in the last year to almost $2 trillion.",
    "output": "[Cause] Growth in customers [Relation] cause [Effect] rapid expansion in CSUM",
    "gold": "[Cause] Growth in customers [Relation] cause [Effect] rapid expansion in CSUM",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the steelmaking cost curve, which was already flat relative to the cost curves of other commodities, has flattened further in recent years. As a result, even though Steel Dynamics operates near the low end of the industry cost curve, the magnitude of its cost advantage relative to its peers is still relatively modest in absolute unit costs.",
    "output": "[Cause] the steelmaking cost curve, which was already flat relative to the cost curves of other commodities, has flattened further in recent years [Relation] cause [Effect] even though Steel Dynamics operates near the low end of the industry cost curve, the magnitude of its cost advantage relative to its peers is still relatively modest in absolute unit costs",
    "gold": "[Cause] the steelmaking cost curve, which was already flat relative to the cost curves of other commodities, has flattened further in recent years [Relation] cause [Effect] even though Steel Dynamics operates near the low end of the industry cost curve, the magnitude of its cost advantage relative to its peers is still relatively modest in absolute unit costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On a divisional level, our forecast marginal improvement is again broadly in the middle of management's guided annual improvement range of 5-10 basis points, driven by volume growth improvements and continued cost improvements across the group.",
    "output": "[Cause] volume growth improvements and continued cost improvements across the group [Relation] cause [Effect] marginal improvement is again broadly in the middle of management's guided annual improvement range of 5-10 basis points",
    "gold": "[Cause] volume growth improvements and continued cost improvements across the group [Relation] enable [Effect] marginal improvement is again broadly in the middle of management's guided annual improvement range of 5-10 basis points",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Canada and the United States continue to have several demographic trends working in favor of insurers, especially with wealth- and asset-management businesses, as an aging population increasingly looks to manage its savings.",
    "output": "[Cause] an aging population increasingly looks to manage its savings [Relation] cause [Effect] Canada and the United States continue to have several demographic trends working in favor of insurers",
    "gold": "[Cause] an aging population increasingly looks to manage its savings [Relation] cause [Effect] Canada and the United States continue to have several demographic trends working in favor of insurers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The aerospace industry is likely to drive substantial growth for Allegheny in the years to come as next-generation jet engines and airframes will require significantly larger volumes of titanium and nickel-based alloys in order to minimize weight and maximize fuel efficiency.",
    "output": "[Cause] next-generation jet engines and airframes will require significantly larger volumes of titanium and nickel-based alloys [Relation] cause [Effect] The aerospace industry is likely to drive substantial growth for Allegheny in the years to come",
    "gold": "[Cause] next-generation jet engines and airframes will require significantly larger volumes of titanium and nickel-based alloys [Relation] cause [Effect] The aerospace industry is likely to drive substantial growth for Allegheny in the years to come",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The aerospace industry is likely to drive substantial growth for Allegheny in the years to come as next-generation jet engines and airframes will require significantly larger volumes of titanium and nickel-based alloys in order to minimize weight and maximize fuel efficiency.",
    "output": "[Cause] next-generation jet engines and airframes will require significantly larger volumes of titanium and nickel-based alloys [Relation] cause [Effect] The aerospace industry is likely to drive substantial growth for Allegheny in the years to come",
    "gold": "[Cause] minimize weight and maximize fuel efficiency [Relation] cause [Effect] airframes will require significantly larger volumes of titanium and nickel-based alloys",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Abbott's efforts to improve efficiency, including streamlining its distribution channels and building facilities in lower-cost locations like China and India, have demonstrated some success.",
    "output": "[Cause] Abbott's efforts to improve efficiency, including streamlining its distribution channels and building facilities in lower-cost locations like China and India [Relation] enable [Effect] some success",
    "gold": "[Cause] Abbott's efforts to improve efficiency, including streamlining its distribution channels and building facilities in lower-cost locations like China and India [Relation] cause [Effect] some success",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We still expect selling and research costs to be elevated over the next several years compared with the long-term average because of a focus on scaling up these high-potential genomic business lines.",
    "output": "[Cause] a focus on scaling up these high-potential genomic business lines [Relation] cause [Effect] selling and research costs to be elevated over the next several years compared with the long-term average",
    "gold": "[Cause] a focus on scaling up these high-potential genomic business lines [Relation] enable [Effect] selling and research costs to be elevated over the next several years compared with the long-term average",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "One of only six concession holders to operate casinos in Macao, Melco Resorts is ideally placed to benefit from this market dynamic, given its portfolio of properties catering to both mass-market and premium-end patrons.",
    "output": "[Cause] its portfolio of properties catering to both mass-market and premium-end patrons [Relation] enable [Effect] Melco Resorts is ideally placed to benefit from this market dynamic",
    "gold": "[Cause]  its portfolio of properties catering to both mass-market and premium-end patrons [Relation] enable [Effect]  Melco Resorts is ideally placed to benefit from this market dynamic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And in the first quarter of 2020, as a result of COVID-19, RH sales contracted 19%, although the core business (inclusive of baby and teen, excluding outlet) fell just 11%, faring significantly better than the industry.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] RH sales contracted 19%",
    "gold": "[Cause] COVID-19 [Relation] enable [Effect] RH sales contracted 19%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Durable cost advantages for industry participants are elusive because low-cost carriers and ultra-low-cost carriers' business models are predicated on continuously driving down yields to attract customers with lower fares.",
    "output": "[Cause] low-cost carriers and ultra-low-cost carriers' business models are predicated on continuously driving down yields to attract customers with lower fares [Relation] cause [Effect] Durable cost advantages for industry participants are elusive",
    "gold": "[Cause] low-cost carriers and ultra-low-cost carriers' business models are predicated on continuously driving down yields to attract customers with lower fares [Relation] cause [Effect] Durable cost advantages for industry participants are elusive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we think scale in the acquiring service and the contribution from ancillary products will lead to strong margin improvement and excess returns over time, and that returns ultimately will be multiples of any reasonable cost of equity, given the limited amount of capital the business requires.",
    "output": "[Cause] scale in the acquiring service and the contribution from ancillary products [Relation] cause [Effect] strong margin improvement and excess returns over time",
    "gold": "[Cause] scale in the acquiring service and the contribution from ancillary products [Relation] cause [Effect] strong margin improvement and excess returns over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As pressure from the cloud transition eases, we believe Splunk can enjoy strong long-run top-line growth; this will be supported by a ramp-up in pandemic-induced business digitization efforts.",
    "output": "[Cause] pressure from the cloud transition eases [Relation] enable [Effect] Splunk can enjoy strong long-run top-line growth",
    "gold": "[Cause] pressure from the cloud transition eases [Relation] cause [Effect] Splunk can enjoy strong long-run top-line growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The segment also faces fierce competition from low-cost producers in China, making it difficult for the business to command any cost advantage.",
    "output": "[Cause] The segment also faces fierce competition from low-cost producers in China [Relation] cause [Effect] it difficult for the business to command any cost advantage",
    "gold": "[Cause] The segment also faces fierce competition from low-cost producers in China [Relation] cause [Effect] it difficult for the business to command any cost advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This tailwind intensified in 2019 in primary lines, and commentary from carriers suggest that pricing momentum has only accelerated in 2020. This should boost Aon's growth a bit in the near term and has helped offset any negative impacts the coronavirus has on the more discretionary areas of the business.",
    "output": "[Cause] This tailwind intensified in 2019 in primary lines, and commentary from carriers suggest that pricing momentum has only accelerated in 2020 [Relation] enable [Effect] boost Aon's growth a bit in the near term and has helped offset any negative impacts the coronavirus has on the more discretionary areas of the business",
    "gold": "[Cause] This tailwind intensified in 2019 in primary lines, and commentary from carriers suggest that pricing momentum has only accelerated in 2020 [Relation] enable [Effect] boost Aon's growth a bit in the near term and has helped offset any negative impacts the coronavirus has on the more discretionary areas of the business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its previously strong brand intangible asset has been bound by consumer trends that allowed for competition in the intimates space.",
    "output": "[Cause] Its previously strong brand intangible asset has been bound by consumer trends [Relation] enable [Effect] competition in the intimates space",
    "gold": "[Cause] Its previously strong brand intangible asset has been bound by consumer trends [Relation] cause [Effect]  competition in the intimates space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Insourcing contracts are usually three to five years in length, and these embed Charles River in clients' core operations and reduce a client's likelihood to switch to a new supplier.",
    "output": "[Cause] Insourcing contracts are usually three to five years in length [Relation] enable [Effect] embed Charles River in clients' core operations and reduce a client's likelihood to switch to a new supplier",
    "gold": "[Cause] these embed Charles River in clients' core operations [Relation] cause [Effect]  reduce a client's likelihood to switch to a new supplier.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As more data flows through Splunk software, it can learn to provide more accurate and timely insights for a wide range of use cases, improving the value businesses derive from Splunk's platform.",
    "output": "[Cause] more data flows through Splunk software [Relation] enable [Effect] learn to provide more accurate and timely insights for a wide range of use cases",
    "gold": "[Cause] more data flows through Splunk software [Relation] cause [Effect]  learn to provide more accurate and timely insights for a wide range of use cases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As more data flows through Splunk software, it can learn to provide more accurate and timely insights for a wide range of use cases, improving the value businesses derive from Splunk's platform.",
    "output": "[Cause] learn to provide more accurate and timely insights for a wide range of use cases [Relation] enable [Effect] improving the value businesses derive from Splunk's platform",
    "gold": "[Cause]  learn to provide more accurate and timely insights for a wide range of use cases [Relation] enable [Effect] improving the value businesses derive from Splunk's platform",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Balchem is subject to only modest systematic risk, as cash flows are generally quite stable, revenue cyclicality is low, and financial leverage is manageable.",
    "output": "[Cause] cash flows are generally quite stable, revenue cyclicality is low, and financial leverage is manageable [Relation] cause [Effect] Balchem is subject to only modest systematic risk",
    "gold": "[Cause]  cash flows are generally quite stable, revenue cyclicality is low, and financial leverage is manageable [Relation] cause [Effect] Balchem is subject to only modest systematic risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, market competitiveness should increase with ODM white-box offerings weighing on branded hardware sales and alternatives seeking to capitalize on heightened cloud storage services demand.",
    "output": "[Cause] ODM white-box offerings weighing on branded hardware sales and alternatives seeking to capitalize on heightened cloud storage services demand [Relation] cause [Effect] market competitiveness should increase",
    "gold": "[Cause] ODM white-box offerings weighing on branded hardware sales and alternatives seeking to capitalize on heightened cloud storage services demand [Relation] cause [Effect] market competitiveness should increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We raise our fair value estimate to $248 per share from $233, due to our more optimistic outlook regarding Cintas' end-market recovery.",
    "output": "[Cause] our more optimistic outlook regarding Cintas' end-market recovery [Relation] cause [Effect] We raise our fair value estimate to $248 per share from $233",
    "gold": "[Cause] our more optimistic outlook regarding Cintas' end-market recovery [Relation] cause [Effect] We raise our fair value estimate to $248 per share from $233",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although it is somewhat more difficult to build a temperature-controlled warehouse than a traditional warehouse, there remain low enough barriers to entry such that new construction could be harmful.",
    "output": "[Cause] there remain low enough barriers to entry [Relation] cause [Effect] new construction could be harmful",
    "gold": "[Cause]  there remain low enough barriers to entry [Relation] cause [Effect] new construction could be harmful",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Share shifts in this market are glacial at best, thanks to significant switching costs, and new technology does not necessarily trump those switching costs.",
    "output": "[Cause] significant switching costs [Relation] cause [Effect] Share shifts in this market are glacial at best",
    "gold": "[Cause] significant switching costs [Relation] cause [Effect] Share shifts in this market are glacial at best",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, recently acquired Sensus is a leader in smart meters, which help avoid costly disruptions, minimize revenue loss due to inaccurate measurements, and significantly reduce labor costs by allowing customers to monitor water quality remotely.",
    "output": "[Cause] recently acquired Sensus is a leader in smart meters [Relation] enable [Effect] avoid costly disruptions, minimize revenue loss",
    "gold": "[Cause]  recently acquired Sensus is a leader in smart meters [Relation] enable [Effect]  avoid costly disruptions, minimize revenue loss",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, recently acquired Sensus is a leader in smart meters, which help avoid costly disruptions, minimize revenue loss due to inaccurate measurements, and significantly reduce labor costs by allowing customers to monitor water quality remotely.",
    "output": "[Cause] inaccurate measurements [Relation] cause [Effect] minimize revenue loss",
    "gold": "[Cause] customers to monitor water quality remotely [Relation] enable [Effect]  avoid costly disruptions, minimize revenue loss",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Simon may be forced to offer lower rents, rent concessions, shorter lease terms or higher tenant improvement spending to attract and retain tenants.",
    "output": "[Cause] offer lower rents, rent concessions, shorter lease terms or higher tenant improvement spending [Relation] enable [Effect] attract and retain tenants",
    "gold": "[Cause] offer lower rents, rent concessions, shorter lease terms or higher tenant improvement spending [Relation] enable [Effect] attract and retain tenants",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do not view Kohl's increased emphasis on national brands as creating any competitive advantage as these products are widely available at other department stores, outlet stores, specialty stores, and online retailers.",
    "output": "[Cause] these products are widely available at other department stores, outlet stores, specialty stores, and online retailers [Relation] cause [Effect] We do not view Kohl's increased emphasis on national brands as creating any competitive advantage",
    "gold": "[Cause] these products are widely available at other department stores, outlet stores, specialty stores, and online retailers [Relation] cause [Effect] We do not view Kohl's increased emphasis on national brands as creating any competitive advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As cannabis shifts from its traditional smoking form to infused drinks and food products, there may be the potential for the creation of brand intangibles.",
    "output": "[Cause] cannabis shifts from its traditional smoking form to infused drinks and food products [Relation] cause [Effect] there may be the potential for the creation of brand intangibles",
    "gold": "[Cause] cannabis shifts from its traditional smoking form to infused drinks and food products [Relation] cause [Effect] there may be the potential for the creation of brand intangibles",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lastly, we have lowered the SG&A ratio to 26% from 27%, as improved marketing return on investment drives to more efficient and lower levels of spend.",
    "output": "[Cause] improved marketing return on investment [Relation] cause [Effect] more efficient and lower levels of spend",
    "gold": "[Cause] improved marketing return on investment [Relation] enable [Effect] more efficient and lower levels of spend",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lastly, we have lowered the SG&A ratio to 26% from 27%, as improved marketing return on investment drives to more efficient and lower levels of spend.",
    "output": "[Cause] improved marketing return on investment [Relation] cause [Effect] more efficient and lower levels of spend",
    "gold": "[Cause] more efficient and lower levels of spend [Relation] cause [Effect] we have lowered the SG&A ratio to 26% from 27%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, we expect that over the longer term, reimbursement pressure will push hospital-based labs and small independents to outsource more volume at the largest, lowest-cost producers, including Quest.",
    "output": "[Cause] reimbursement pressure [Relation] cause [Effect] push hospital-based labs and small independents to outsource more volume at the largest, lowest-cost producers, including Quest",
    "gold": "[Cause] reimbursement pressure [Relation] enable [Effect]  push hospital-based labs and small independents to outsource more volume at the largest, lowest-cost producers, including Quest",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If Cigna can achieve that goal, clients should benefit along with Cigna, and we think this reduction in its cost trend may help Cigna attract more business from existing and potential clients.",
    "output": "[Cause] Cigna can achieve that goal [Relation] enable [Effect] clients should benefit along with Cigna",
    "gold": "[Cause] Cigna can achieve that goal [Relation] cause [Effect] clients should benefit along with Cigna",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we forecast average ROICs for the next five years of about 9% because of large acquisitions in Europe, we expect LKQ's ROIC to reach nearly 10% by 2025 as it refines its operations outside of North America.",
    "output": "[Cause] large acquisitions in Europe [Relation] cause [Effect] average ROICs for the next five years of about 9%",
    "gold": "[Cause]  large acquisitions in Europe [Relation] cause [Effect] average ROICs for the next five years of about 9%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we forecast average ROICs for the next five years of about 9% because of large acquisitions in Europe, we expect LKQ's ROIC to reach nearly 10% by 2025 as it refines its operations outside of North America.",
    "output": "[Cause] it refines its operations outside of North America [Relation] cause [Effect] LKQ's ROIC to reach nearly 10% by 2025",
    "gold": "[Cause] it refines its operations outside of North America [Relation] cause [Effect] t LKQ's ROIC to reach nearly 10%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "KeyCorp is not large enough to be considered a global systemically important bank and therefore avoids some of the more onerous regulatory capital requirements.",
    "output": "[Cause] KeyCorp is not large enough to be considered a global systemically important bank [Relation] cause [Effect] avoids some of the more onerous regulatory capital requirements",
    "gold": "[Cause] KeyCorp is not large enough to be considered a global systemically important bank [Relation] cause [Effect] avoids some of the more onerous regulatory capital requirements",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the past 70 years, Canon has established defensible market positions in its core office and consumer segments, but secular headwinds and shifting industry dynamics limit its long-term growth potential.",
    "output": "[Cause] secular headwinds and shifting industry dynamics [Relation] prevent [Effect] its long-term growth potential",
    "gold": "[Cause] secular headwinds and shifting industry dynamics [Relation] prevent [Effect] its long-term growth potential",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But based on recent governance changes and a properly executed $3 billion common stock issuance in 2019 to provide equity for the Eletropaulo acquisition, we have more confidence that management can create shareholder value.",
    "output": "[Cause] recent governance changes and a properly executed $3 billion common stock issuance in 2019 to provide equity for the Eletropaulo acquisition [Relation] enable [Effect] management can create shareholder value",
    "gold": "[Cause] recent governance changes and a properly executed $3 billion common stock issuance in 2019 to provide equity for the Eletropaulo acquisition [Relation] cause [Effect] management can create shareholder value",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2018, the IFT further issued criteria requiring Movil to carve out Telmex's infrastructure into a legally distinct subsidiary to offer wholesale services to Telmex and other competitors.",
    "output": "[Cause] offer wholesale services to Telmex and other competitors [Relation] cause [Effect] the IFT further issued criteria requiring Movil to carve out Telmex's infrastructure into a legally distinct subsidiary",
    "gold": "[Cause] offer wholesale services to Telmex and other competitors [Relation] cause [Effect]  the IFT further issued criteria requiring Movil to carve out Telmex's infrastructure into a legally distinct subsidiary",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe sales will continue to slow over the remainder of the fourth quarter, as parents are further settled in the work-from-home routine and children complete preparation for remote learning workspaces.",
    "output": "[Cause] parents are further settled in the work-from-home routine and children complete preparation for remote learning workspaces [Relation] cause [Effect] sales will continue to slow over the remainder of the fourth quarter",
    "gold": "[Cause] parents are further settled in the work-from-home routine and children complete preparation for remote learning workspaces [Relation] cause [Effect] sales will continue to slow over the remainder of the fourth quarter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, as travel slowly returns to normal once the virus has passed, we think the company should see strong growth in 2021 beyond and the company should eventually return to 2019 levels by 2024.",
    "output": "[Cause] travel slowly returns to normal once the virus has passed [Relation] cause [Effect] the company should see strong growth in 2021 beyond and the company should eventually return to 2019 levels by 2024",
    "gold": "[Cause] travel slowly returns to normal once the virus has passed | travel slowly returns to normal once the virus has passed [Relation] cause [Effect] the company should see strong growth in 2021 beyond and the company should eventually return to 2019 levels by 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It is divesting lower-quality brands as it places more intentionality behind its \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"high growth, high margin\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" long-term strategy, but the remaining brands (such as Meiomi, Kim Crawford, SVEDKA vodka, and High West craft whiskey) will still face rife competition.",
    "output": "[Cause] it places more intentionality behind its \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"",
    "gold": "[Cause] it places more intentionality behind its \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"high growth, high margin\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" long-term strategy [Relation] cause [Effect] It is divesting lower-quality brands",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A combination of a high Herfindahl ratio, significant barriers to entry, and moderate degree of rivalry positions RT favourably relative to several other device industry segments.",
    "output": "[Cause] A combination of a high Herfindahl ratio, significant barriers to entry, and moderate degree of rivalry [Relation] enable [Effect] positions RT favourably relative to several other device industry segments",
    "gold": "[Cause] A combination of a high Herfindahl ratio, significant barriers to entry, and moderate degree of rivalry [Relation] enable [Effect] positions RT favourably relative to several other device industry segments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Eversource faces ESG risk, given the aggressive clean energy goals in the Northeast and its operations of natural gas distribution businesses.",
    "output": "[Cause] the aggressive clean energy goals in the Northeast and its operations of natural gas distribution businesses [Relation] cause [Effect] Eversource faces ESG risk",
    "gold": "[Cause] the aggressive clean energy goals in the Northeast and its operations of natural gas distribution businesses [Relation] cause [Effect] Eversource faces ESG risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lower crop prices forced farmers to pull back on new equipment purchases, causing Agco's revenue to fall approximately 11% on average from 2014-16.",
    "output": "[Cause] Lower crop prices [Relation] cause [Effect] farmers to pull back on new equipment purchases",
    "gold": "[Cause] Lower crop prices [Relation] enable [Effect] farmers to pull back on new equipment purchases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In a similar vein, there is no guarantee that traders using derivatives tied to the Nasdaq index will migrate to another equity-linked product at the same firm if the license is not renewed.",
    "output": "[Cause] the license is not renewed [Relation] cause [Effect] there is no guarantee that traders using derivatives tied to the Nasdaq index will migrate to another equity-linked product at the same firm",
    "gold": "[Cause] the license is not renewed [Relation] cause [Effect]  there is no guarantee that traders using derivatives tied to the Nasdaq index will migrate to another equity-linked product at the same firm",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Disney's theme parks and resorts are almost impossible to replicate, especially considering the tie-ins with its franchises and other business lines.",
    "output": "[Cause] the tie-ins with its franchises and other business lines [Relation] cause [Effect] Disney's theme parks and resorts are almost impossible to replicate",
    "gold": "[Cause] the tie-ins with its franchises and other business lines [Relation] cause [Effect] Disney's theme parks and resorts are almost impossible to replicate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Losing the routing, analytics, and communication capabilities provided by CXone would lead to a poorer customer experience and employee frustration, thus supporting switching costs for Nice.",
    "output": "[Cause] Losing the routing, analytics, and communication capabilities provided by CXone [Relation] cause [Effect] a poorer customer experience and employee frustration",
    "gold": "[Cause] Losing the routing, analytics, and communication capabilities provided by CXone [Relation] cause [Effect] a poorer customer experience and employee frustration",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Losing the routing, analytics, and communication capabilities provided by CXone would lead to a poorer customer experience and employee frustration, thus supporting switching costs for Nice.",
    "output": "[Cause] a poorer customer experience and employee frustration [Relation] cause [Effect] supporting switching costs for Nice",
    "gold": "[Cause] a poorer customer experience and employee frustration [Relation] cause [Effect] supporting switching costs for Nice",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Celanese's acetate tow segment also benefits from a cost advantage as acetic acid is one of the primary ingredients used to produce acetate tow.",
    "output": "[Cause] acetic acid is one of the primary ingredients used to produce acetate tow [Relation] cause [Effect] Celanese's acetate tow segment also benefits from a cost advantage",
    "gold": "[Cause]  acetic acid is one of the primary ingredients used to produce acetate tow [Relation] cause [Effect] Celanese's acetate tow segment also benefits from a cost advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the spin-off, the Change Healthcare management team has started to foster partnerships with electric medical record platforms to enhance the company's overall offering.",
    "output": "[Cause] the spin-off [Relation] enable [Effect] the Change Healthcare management team has started to foster partnerships with electric medical record platforms to enhance the company's overall offering",
    "gold": "[Cause] the spin-off [Relation] cause [Effect] the Change Healthcare management team has started to foster partnerships with electric medical record platforms to enhance the company's overall offering",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate that the frequency of fractions will be under pressure from the reimbursement perspective, resulting in a higher prevalence of hypofractionation.",
    "output": "[Cause] the frequency of fractions will be under pressure from the reimbursement perspective [Relation] cause [Effect] a higher prevalence of hypofractionation",
    "gold": "[Cause] a higher prevalence of hypofractionation [Relation] cause [Effect] We anticipate that the frequency of fractions will be under pressure from the reimbursement perspective",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, we surmise actions it is taking to reduce its cost structure (by reorganizing its Canadian operations and Guest Supply hotel business, eliminating around 10% of its salaried corporate support functions, and overhauling its financial operations) stand to aid its margin profile.",
    "output": "[Cause] actions it is taking to reduce its cost structure [Relation] enable [Effect] aid its margin profile",
    "gold": "[Cause] reduce its cost structure (by reorganizing its Canadian operations and Guest Supply hotel business, eliminating around 10% of its salaried corporate support functions, and overhauling its financial operations) [Relation] enable [Effect]  its margin profile",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For example, ICU Medical was built around its needle-free connector products, which the company has developed into its Clave product family, and which helps nurses avoid accidental needle pricks that can result in bloodborne illnesses.",
    "output": "[Cause] ICU Medical was built around its needle-free connector products [Relation] enable [Effect] nurses avoid accidental needle pricks that can result in bloodborne illnesses",
    "gold": "[Cause] Clave product family [Relation] prevent [Effect] accidental needle pricks that can result in bloodborne illnesses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The Permian is also much thicker, with numerous productive reservoir layers. As a result, operators think it can accommodate at least 20 wells per square mile on the surface, which is at least double the optimum density in other plays.",
    "output": "[Cause] The Permian is also much thicker, with numerous productive reservoir layers [Relation] cause [Effect] operators think it can accommodate at least 20 wells per square mile on the surface, which is at least double the optimum density in other plays",
    "gold": "[Cause] The Permian is also much thicker, with numerous productive reservoir layers [Relation] cause [Effect] operators think it can accommodate at least 20 wells per square mile on the surface, which is at least double the optimum density in other plays",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The benefit of this strategy became clear as the Great Recession pushed the orthopedic market into slow-growth mode, demonstrating that the historically recession-resistant business was indeed vulnerable when many uneasy patients deferred elective procedures.",
    "output": "[Cause] the Great Recession pushed the orthopedic market into slow-growth mode [Relation] cause [Effect] The benefit of this strategy became clear",
    "gold": "[Cause] the Great Recession pushed the orthopedic market into slow-growth mode [Relation] cause [Effect] The benefit of this strategy became clear",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The benefit of this strategy became clear as the Great Recession pushed the orthopedic market into slow-growth mode, demonstrating that the historically recession-resistant business was indeed vulnerable when many uneasy patients deferred elective procedures.",
    "output": "[Cause] the Great Recession pushed the orthopedic market into slow-growth mode [Relation] cause [Effect] The benefit of this strategy became clear",
    "gold": "[Cause] The benefit of this strategy became clear [Relation] enable [Effect] demonstrating that the historically recession-resistant business was indeed vulnerable when many uneasy patients deferred elective procedures",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think the difficulty in replicating this offering is evidenced by the fact that CoStar's now bankrupt competitor Xceligent met its demise in large part because it resorted to stealing CoStar's data due to the prohibitive cost associated with building out its own offering.",
    "output": "[Cause] the prohibitive cost associated with building out its own offering [Relation] cause [Effect] it resorted to stealing CoStar's data",
    "gold": "[Cause]  it resorted to stealing CoStar's data [Relation] cause [Effect] the difficulty in replicating this offering is evidenced by the fact that CoStar's now bankrupt competitor Xceligent met its demise in large part",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think the difficulty in replicating this offering is evidenced by the fact that CoStar's now bankrupt competitor Xceligent met its demise in large part because it resorted to stealing CoStar's data due to the prohibitive cost associated with building out its own offering.",
    "output": "[Cause] it resorted to stealing CoStar's data [Relation] cause [Effect] the difficulty in replicating this offering",
    "gold": "[Cause] the prohibitive cost associated with building out its own offering [Relation] cause [Effect]  it resorted to stealing CoStar's data",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Product development and channel investments would also continuously rise at a 6% five-year CAGR in order to improve competitiveness, versus only a 5% top-line five-year CAGR.",
    "output": "[Cause] Product development and channel investments would also continuously rise at a 6% five-year CAGR [Relation] enable [Effect] improve competitiveness",
    "gold": "[Cause] improve competitiveness [Relation] cause [Effect] Product development and channel investments would also continuously rise at a 6% five-year CAGR",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Increased accountability is an added benefit of the restructuring as layers have been eliminated and there is increased transparency into P&L responsibilities.",
    "output": "[Cause] layers have been eliminated and there is increased transparency into P&L responsibilities [Relation] cause [Effect] Increased accountability is an added benefit of the restructuring",
    "gold": "[Cause] layers have been eliminated and there is increased transparency into P&L responsibilities [Relation] cause [Effect] Increased accountability is an added benefit of the restructuring",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Regional freight is an attractive niche because shipments face less competition from intermodal and are seeing growth as shippers locate distribution centers closer to end customers.",
    "output": "[Cause] shipments face less competition from intermodal and are seeing growth as shippers locate distribution centers closer to end customers [Relation] cause [Effect] Regional freight is an attractive niche",
    "gold": "[Cause]  shipments face less competition from intermodal and are seeing growth as shippers locate distribution centers closer to end customers [Relation] cause [Effect] Regional freight is an attractive niche",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, Industrial Scientific provides gas detection services and Landauer measures radiation exposure, areas where reliability is critical, as human safety and even life could be at stake.",
    "output": "[Cause] human safety and even life could be at stake [Relation] cause [Effect] Industrial Scientific provides gas detection services and Landauer measures radiation exposure, areas where reliability is critical",
    "gold": "[Cause]  human safety and even life could be at stake [Relation] cause [Effect]  Industrial Scientific provides gas detection services and Landauer measures radiation exposure, areas where reliability is critical",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Compared with trickle charging techniques that are typically used by competitors, Eaton's UPS uses a unique three-stage charging technique that significantly extends a battery's service life and optimizes recharge time.",
    "output": "[Cause] Eaton's UPS uses a unique three-stage charging technique [Relation] enable [Effect] significantly extends a battery's service life and optimizes recharge time",
    "gold": "[Cause]  Eaton's UPS uses a unique three-stage charging technique [Relation] enable [Effect] significantly extends a battery's service life and optimizes recharge time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, the delicate balance between supply and demand remains a formidable concern, with bouts of oversupply crippling margins and times of undersupply leading to overexpansion.",
    "output": "[Cause] the delicate balance between supply and demand remains a formidable concern [Relation] cause [Effect] crippling margins",
    "gold": "[Cause] with bouts of oversupply [Relation] prevent [Effect] crippling margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, the delicate balance between supply and demand remains a formidable concern, with bouts of oversupply crippling margins and times of undersupply leading to overexpansion.",
    "output": "[Cause] times of undersupply [Relation] cause [Effect] overexpansion",
    "gold": "[Cause] times of undersupply [Relation] prevent [Effect] overexpansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that VMware's customer stickiness is reinforced through its ecosystem of virtual machine products, including virtual storage, security, and routing.",
    "output": "[Cause] its ecosystem of virtual machine products, including virtual storage, security, and routing [Relation] enable [Effect] VMware's customer stickiness is reinforced",
    "gold": "[Cause] its ecosystem of virtual machine products, including virtual storage, security, and routing [Relation] cause [Effect] VMware's customer stickiness is reinforced",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our sales forecast is modestly below program goals given that we incorporate normalized growth over a cycle rather than steady-state improvement.",
    "output": "[Cause] we incorporate normalized growth over a cycle rather than steady-state improvement [Relation] cause [Effect] Our sales forecast is modestly below program goals",
    "gold": "[Cause] we incorporate normalized growth over a cycle rather than steady-state improvement [Relation] cause [Effect] Our sales forecast is modestly below program goals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Constructive regulatory decisions give us confidence PSEG can reach the upper end of its $13 billion-$15 billion five-year investment plan at the regulated utility.",
    "output": "[Cause] Constructive regulatory decisions [Relation] enable [Effect] PSEG can reach the upper end of its $13 billion-$15 billion five-year investment plan at the regulated utility",
    "gold": "[Cause] Constructive regulatory decisions [Relation] enable [Effect] PSEG can reach the upper end of its $13 billion-$15 billion five-year investment plan at the regulated utility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Hanes' quarter included $179 million in nonrecurring sales of personal protective equipment, which helped it to exceed our prior sales and earnings estimates.",
    "output": "[Cause] Hanes' quarter included $179 million in nonrecurring sales of personal protective equipment [Relation] enable [Effect] exceeded our prior sales and earnings estimates",
    "gold": "[Cause] Hanes' quarter included $179 million in nonrecurring sales of personal protective equipment [Relation] enable [Effect]  helped it to exceed our prior sales and earnings estimates",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Research and development expenses will impact Micron's operating margin, as the firm must continue to spend to support new technologies such as 10-nanometer and below DRAM, 176-layer and above 3D NAND, and 3D XPoint to remain competitive.",
    "output": "[Cause] the firm must continue to spend to support new technologies such as 10-nanometer and below DRAM, 176-layer and above 3D NAND, and 3D XPoint to remain competitive [Relation] cause [Effect] Research and development expenses will impact Micron's operating margin",
    "gold": "[Cause] spend to support new technologies [Relation] enable [Effect]  to remain competitive",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Competition should leave little room for margin expansion as Dollar General will likely have to reinvest savings derived from operational leverage in keeping prices low.",
    "output": "[Cause] Dollar General will likely have to reinvest savings derived from operational leverage in keeping prices low [Relation] cause [Effect] Competition should leave little room for margin expansion",
    "gold": "[Cause]  Dollar General will likely have to reinvest savings derived from operational leverage [Relation] enable [Effect]  keeping prices low",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "More specifically, Clorox has long targeted to garner 3 points of annual sales growth from newly launched fare, and we think this focus will continue to contribute to its unwavering competitive position.",
    "output": "[Cause] Clorox has long targeted to garner 3 points of annual sales growth from newly launched fare [Relation] enable [Effect] its unwavering competitive position",
    "gold": "[Cause] Clorox has long targeted to garner 3 points of annual sales growth from newly launched fare [Relation] cause [Effect] its unwavering competitive position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Oracle remains a best-of-breed provider of on-premises databases and software, and customers face very high switching costs if they look to migrate elsewhere.",
    "output": "[Cause] they look to migrate elsewhere [Relation] cause [Effect] customers face very high switching costs",
    "gold": "[Cause] they look to migrate elsewhere [Relation] cause [Effect] customers face very high switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Depending on the size of a health network, implementation costs of new EHR technology can easily run in the billions, due to the training resources need to familiarize all clinicians with the software.",
    "output": "[Cause] the training resources need to familiarize all clinicians with the software [Relation] cause [Effect] implementation costs of new EHR technology can easily run in the billions",
    "gold": "[Cause]  the training resources need to familiarize all clinicians with the software [Relation] cause [Effect] implementation costs of new EHR technology can easily run in the billions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're anticipating material margin expansion over our forecast period due to synergies from the L3Harris merger, and we think the firm can improve operating margins from about 14.5% in 2021 to 16.2% at midcycle in 2024.",
    "output": "[Cause] synergies from the L3Harris merger [Relation] cause [Effect] We're anticipating material margin expansion over our forecast period",
    "gold": "[Cause] synergies from the L3Harris merger [Relation] cause [Effect] We're anticipating material margin expansion over our forecast period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our base case assumes some erosion of Halliburton's advantage in execution, but with much of that advantage remaining in place for the longer term, owing to the company's ability to continually utilize new technology to enhance its execution capabilities.",
    "output": "[Cause] the company's ability to continually utilize new technology to enhance its execution capabilities [Relation] cause [Effect] much of that advantage remaining in place for the longer term",
    "gold": "[Cause]  the company's ability to continually utilize new technology to enhance its execution capabilities [Relation] cause [Effect] much of that advantage remaining in place for the longer term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, we think major margin expansion is unlikely, especially given that Ambev already has best-in-class margins in several Latin American markets.",
    "output": "[Cause] Ambev already has best-in-class margins in several Latin American markets [Relation] cause [Effect] major margin expansion is unlikely",
    "gold": "[Cause] Ambev already has best-in-class margins in several Latin American markets [Relation] cause [Effect] major margin expansion is unlikely",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We don't anticipate this changing materially, as the bank is investing heavily in IT and infrastructure, minimizing any potential advantages from positive operating leverage in the short term.",
    "output": "[Cause] the bank is investing heavily in IT and infrastructure [Relation] cause [Effect] minimizing any potential advantages from positive operating leverage in the short term",
    "gold": "[Cause] the bank is investing heavily in IT and infrastructure [Relation] enable [Effect] minimizing any potential advantages from positive operating leverage in the short term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect a mostly constructive outcome in the GRC based on a series of constructive outcomes in its recent rate cases.",
    "output": "[Cause] a series of constructive outcomes in its recent rate cases [Relation] cause [Effect] a mostly constructive outcome in the GRC",
    "gold": "[Cause] a series of constructive outcomes in its recent rate cases [Relation] cause [Effect] a mostly constructive outcome in the GRC",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The efficiency of the firm's beverage business is less pronounced relative to snacks, given the higher capital intensity; beverages have more-involved production lines because of the various infrastructure requirements, such as piping, tubing, and filters, in addition to less streamlined packaging.",
    "output": "[Cause] the higher capital intensity [Relation] cause [Effect] The efficiency of the firm's beverage business is less pronounced relative to snacks",
    "gold": "[Cause] the higher capital intensity [Relation] cause [Effect] The efficiency of the firm's beverage business is less pronounced relative to snacks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The efficiency of the firm's beverage business is less pronounced relative to snacks, given the higher capital intensity; beverages have more-involved production lines because of the various infrastructure requirements, such as piping, tubing, and filters, in addition to less streamlined packaging.",
    "output": "[Cause] the various infrastructure requirements, such as piping, tubing, and filters, in addition to less streamlined packaging [Relation] cause [Effect] beverages have more-involved production lines",
    "gold": "[Cause]  the various infrastructure requirements, such as piping, tubing, and filters, in addition to less streamlined packaging [Relation] cause [Effect]  beverages have more-involved production lines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "LivaNova's significant head start in this market means it has had more time to collect a substantial body of clinical evidence to demonstrate the device's safety profile and efficacy.",
    "output": "[Cause] LivaNova's significant head start in this market [Relation] enable [Effect] it has had more time to collect a substantial body of clinical evidence to demonstrate the device's safety profile and efficacy",
    "gold": "[Cause] more time to collect a substantial body of clinical evidence [Relation] enable [Effect] demonstrate the device's safety profile and efficacy",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Tenneco operates in a capital-intense industry, resulting in a high degree of operating leverage, so sudden declines in volume can have a meaningful impact on profit.",
    "output": "[Cause] Tenneco operates in a capital-intense industry [Relation] cause [Effect] a high degree of operating leverage",
    "gold": "[Cause] Tenneco operates in a capital-intense industry [Relation] cause [Effect] a high degree of operating leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Tenneco operates in a capital-intense industry, resulting in a high degree of operating leverage, so sudden declines in volume can have a meaningful impact on profit.",
    "output": "[Cause] Tenneco operates in a capital-intense industry [Relation] cause [Effect] sudden declines in volume can have a meaningful impact on profit",
    "gold": "[Cause] a high degree of operating leverage [Relation] cause [Effect] sudden declines in volume can have a meaningful impact on profit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The short length of stay is further complicated by the commoditization of these facilities and the numerous substitutes available in key metropolitan distribution hubs.",
    "output": "[Cause] the commoditization of these facilities and the numerous substitutes available in key metropolitan distribution hubs [Relation] cause [Effect] The short length of stay is further complicated",
    "gold": "[Cause] the commoditization of these facilities and the numerous substitutes available in key metropolitan distribution hubs [Relation] cause [Effect] The short length of stay is further complicated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The most prominent was Bombardiers' C Series, which suffered from chronic delays resulting from issues with suppliers that extended development for years, and program cost overruns that caused the company to take a quarterly charge in 2015 that was roughly the market capitalization of the company at the time.",
    "output": "[Cause] issues with suppliers that extended development for years [Relation] cause [Effect] chronic delays",
    "gold": "[Cause] program cost overruns [Relation] cause [Effect] the company to take a quarterly charge in 2015",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The most prominent was Bombardiers' C Series, which suffered from chronic delays resulting from issues with suppliers that extended development for years, and program cost overruns that caused the company to take a quarterly charge in 2015 that was roughly the market capitalization of the company at the time.",
    "output": "[Cause] chronic delays resulting from issues with suppliers that extended development for years, and program cost overruns [Relation] cause [Effect] the company to take a quarterly charge in 2015 that was roughly the market capitalization of the company at the time",
    "gold": "[Cause] issues with suppliers that extended development [Relation] cause [Effect] chronic delays",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Howmet's product lines must undergo commissioning and qualification cycles that generally take one to three years because, in many cases, the materials must be approved by not only the company's customers, but also end users.",
    "output": "[Cause] in many cases, the materials must be approved by not only the company's customers, but also end users [Relation] cause [Effect] Howmet's product lines must undergo commissioning and qualification cycles that generally take one to three years",
    "gold": "[Cause]  in many cases, the materials must be approved by not only the company's customers, but also end users [Relation] cause [Effect]  in many cases, the materials must be approved by not only the company's customers, but also end users",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The biggest near-term risk to JBT, in our view, comes from a potential additional wave of COVID-19 cases that could prompt either lockdowns or other restrictions, which in turn would impact global air travel demand and our forecast.",
    "output": "[Cause] a potential additional wave of COVID-19 cases that could prompt either lockdowns or other restrictions [Relation] cause [Effect] The biggest near-term risk to JBT",
    "gold": "[Cause]  a potential additional wave of COVID-19 cases [Relation] cause [Effect] prompt either lockdowns or other restrictions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the technology gap between Posco and its rivals has narrowed over the years, while competitors have been able to produce larger quantities of high-grade steel at lower costs in recent years.",
    "output": "[Cause] competitors have been able to produce larger quantities of high-grade steel at lower costs in recent years [Relation] cause [Effect] the technology gap between Posco and its rivals has narrowed over the years",
    "gold": "[Cause] the technology gap between Posco and its rivals has narrowed over the years [Relation] enable [Effect] competitors have been able to produce larger quantities of high-grade steel at lower costs in recent years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Cross-border transactions are highly lucrative for Mastercard, making the company very sensitive to any swings in these types of transactions.",
    "output": "[Cause] Cross-border transactions are highly lucrative for Mastercard [Relation] cause [Effect] the company very sensitive to any swings in these types of transactions",
    "gold": "[Cause] Cross-border transactions are highly lucrative for Mastercard [Relation] enable [Effect]  the company very sensitive to any swings in these types of transactions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the firm's asset management business to grow as market appreciation and inflows can exceed the drag on fee pressure. This leads to a GAAP return of equity in the mid-single-digit percentages, a bit below the high-single-digits seen in recent years.",
    "output": "[Cause] the firm's asset management business to grow as market appreciation and inflows can exceed the drag on fee pressure [Relation] cause [Effect] a GAAP return of equity in the mid-single-digit percentages, a bit below the high-single-digits seen in recent years",
    "gold": "[Cause] the firm's asset management business to grow as market appreciation and inflows can exceed the drag on fee pressure [Relation] cause [Effect] a GAAP return of equity in the mid-single-digit percentages, a bit below the high-single-digits seen in recent years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that the low contribution made by demand deposits to SocGen's funding (20% of interest-bearing liabilities) partly explains its lack of a funding advantage.",
    "output": "[Cause] the low contribution made by demand deposits to SocGen's funding (20% of interest-bearing liabilities) [Relation] cause [Effect] its lack of a funding advantage",
    "gold": "[Cause] lack of a funding advantage [Relation] cause [Effect] the low contribution made by demand deposits to SocGen's funding (20% of interest-bearing liabilities)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Should the country be unable to enact near-term austerity measures, sovereign yields could climb as the market demands higher credit risk premiums.",
    "output": "[Cause] the country be unable to enact near-term austerity measures [Relation] cause [Effect] sovereign yields could climb",
    "gold": "[Cause] the market demands higher credit risk premiums [Relation] cause [Effect] sovereign yields could climb",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Should the country be unable to enact near-term austerity measures, sovereign yields could climb as the market demands higher credit risk premiums.",
    "output": "[Cause] the market demands higher credit risk premiums [Relation] cause [Effect] sovereign yields could climb",
    "gold": "[Cause] the country be unable to enact near-term austerity measures [Relation] cause [Effect] sovereign yields could climb",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "When combined with the user-generated driver ratings, we think such information helps Uber improve the timeliness of matching riders with drivers.",
    "output": "[Cause] combined with the user-generated driver ratings [Relation] enable [Effect] such information helps Uber improve the timeliness of matching riders with drivers",
    "gold": "[Cause] combined with the user-generated driver ratings [Relation] enable [Effect] such information helps Uber improve the timeliness of matching riders with drivers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We still believe that the firm will have an opportunity to accelerate openings in higher-growth markets with real estate pricing growing more attractive in light of recent restaurant closures, underpinning our unit-growth thesis.",
    "output": "[Cause] recent restaurant closures [Relation] cause [Effect] the firm will have an opportunity to accelerate openings in higher-growth markets with real estate pricing growing more attractive",
    "gold": "[Cause] the firm will have an opportunity to accelerate openings in higher-growth markets [Relation] cause [Effect] underpinning our unit-growth thesis",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For 2021, we expect gross revenue to rise about 8% on robust demand and contract-pricing in the first half, and we look for net revenue to increase in the 12%-13% as the firm passes along rising carrier rates to shippers and gross margins recover.",
    "output": "[Cause] the firm passes along rising carrier rates to shippers and gross margins recover [Relation] cause [Effect] gross revenue to rise about 8% on robust demand and contract-pricing in the first half, and we look for net revenue to increase in the 12%-13%",
    "gold": "[Cause] the firm passes along rising carrier rates to shippers and gross margins recover [Relation] cause [Effect] gross revenue to rise about 8% on robust demand and contract-pricing in the first half, and we look for net revenue to increase in the 12%-13%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It's still possible that the coronavirus crisis will play out in worst case fashion and be accompanied by substantial investment impairments.",
    "output": "[Cause] substantial investment impairments [Relation] cause [Effect] the coronavirus crisis will play out in worst case fashion",
    "gold": "[Cause] the coronavirus crisis will play out in worst case fashio [Relation] cause [Effect] substantial investment impairments",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Pairing Medtronic's diversified product portfolio aimed at a wide range of chronic diseases with its expansive selection of products for acute care in hospitals has bolstered Medtronic's position as a key partner for its hospital customers.",
    "output": "[Cause] Pairing Medtronic's diversified product portfolio aimed at a wide range of chronic diseases with its expansive selection of products for acute care in hospitals [Relation] enable [Effect] bolstered Medtronic's position as a key partner for its hospital customers",
    "gold": "[Cause] Pairing Medtronic's diversified product portfolio aimed at a wide range of chronic diseases with its expansive selection of products for acute care in hospitals [Relation] enable [Effect] bolstered Medtronic's position as a key partner for its hospital customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, Kellogg has struggled in the past at the hand of self-inflicted supply chain issues and lackluster innovation, which has weighed on its domestic morning foods and snacks segments (each have chalked up low- to mid-single-digit declines on average the past four years).",
    "output": "[Cause] Kellogg has struggled in the past at the hand of self-inflicted supply chain issues and lackluster innovation [Relation] cause [Effect] weighed on its domestic morning foods and snacks segments",
    "gold": "[Cause]  Kellogg has struggled in the past at the hand of self-inflicted supply chain issues and lackluster innovation [Relation] cause [Effect]  weighed on its domestic morning foods and snacks segments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see particular strength in the beverage concentrates and Latin America beverages segments, and contributions from mix (through innovative price/pack architectures) should offset any volume declines in the packaged beverages segment.",
    "output": "[Cause] contributions from mix (through innovative price/pack architectures) [Relation] prevent [Effect] any volume declines in the packaged beverages segment",
    "gold": "[Cause] contributions from mix (through innovative price/pack architectures) [Relation] prevent [Effect] any volume declines in the packaged beverages segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Some industry observers have speculated that the emergence of Amazon into industrial distribution is the beginning of the end for many incumbent distributors.",
    "output": "[Cause] the emergence of Amazon into industrial distribution [Relation] cause [Effect] the beginning of the end for many incumbent distributors",
    "gold": "[Cause] the emergence of Amazon into industrial distribution [Relation] cause [Effect] the beginning of the end for many incumbent distributors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, SQM's lithium capacity expansions carry project execution risk, especially the spodumene-based operation in Australia, as SQM has never operated a hard rock project.",
    "output": "[Cause] SQM has never operated a hard rock project [Relation] cause [Effect] SQM's lithium capacity expansions carry project execution risk",
    "gold": "[Cause] SQM has never operated a hard rock project [Relation] cause [Effect] SQM's lithium capacity expansions carry project execution risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The pandemic presents a material near-term headwind to industry travel demand, while cyclicality and overbuilding in the market present another main risk for shareholders.",
    "output": "[Cause] cyclicality and overbuilding in the market [Relation] cause [Effect] another main risk for shareholders",
    "gold": "[Cause]  cyclicality and overbuilding in the market [Relation] cause [Effect]  another main risk for shareholders",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As we anticipate the industry will remain intensely price competitive with customers nonetheless still demanding a high-quality store experience, we believe chains will have to rely on cost leverage to deliver value.",
    "output": "[Cause] the industry will remain intensely price competitive with customers nonetheless still demanding a high-quality store experience [Relation] cause [Effect] chains will have to rely on cost leverage to deliver value",
    "gold": "[Cause] the industry will remain intensely price competitive with customers nonetheless still demanding a high-quality store experience [Relation] cause [Effect] chains will have to rely on cost leverage to deliver value",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Wesco's product selection and availability, combined with its value-added services, offer customers convenience, support, and cost savings, which help strengthen customer relationships and win new business.",
    "output": "[Cause] Wesco's product selection and availability, combined with its value-added services, offer customers convenience, support, and cost savings [Relation] enable [Effect] help strengthen customer relationships and win new business",
    "gold": "[Cause] Wesco's product selection and availability, combined with its value-added services, offer customers convenience, support, and cost savings [Relation] enable [Effect] help strengthen customer relationships and win new business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, given the troubles with filing financials, we have no way of knowing whether the financial position reported up until now is an accurate depiction of the firm's standing.",
    "output": "[Cause] the troubles with filing financials [Relation] cause [Effect] we have no way of knowing whether the financial position reported up until now is an accurate depiction of the firm's standing",
    "gold": "[Cause] the troubles with filing financials [Relation] cause [Effect] we have no way of knowing whether the financial position reported up until now is an accurate depiction of the firm's standing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Beneath these two, share is highly fragmented, making it extremely challenging for smaller new entrants to gain customer traffic and supplier scale.",
    "output": "[Cause] share is highly fragmented [Relation] cause [Effect] extremely challenging for smaller new entrants to gain customer traffic and supplier scale",
    "gold": "[Cause] share is highly fragmented [Relation] cause [Effect] extremely challenging for smaller new entrants to gain customer traffic and supplier scale",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, unlike North America, where a vibrant entrepreneurial sector provides steep competition in many products, the international market is much more oligopolistic, as few companies can maintain a viable level of scale across a wide variety of markets.",
    "output": "[Cause] few companies can maintain a viable level of scale across a wide variety of markets [Relation] cause [Effect] the international market is much more oligopolistic",
    "gold": "[Cause] few companies can maintain a viable level of scale across a wide variety of markets [Relation] cause [Effect] the international market is much more oligopolistic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A rival would need to undercut Crown Castle's prices by that much more to make up for the loss carriers would face in deciding to switch, further impeding a competitor's prospects of generating excess returns.",
    "output": "[Cause] A rival would need to undercut Crown Castle's prices by that much more to make up for the loss carriers would face in deciding to switch [Relation] prevent [Effect] a competitor's prospects of generating excess returns",
    "gold": "[Cause] A rival would need to undercut Crown Castle's prices by that much more to make up for the loss carriers would face in deciding to switch [Relation] prevent [Effect]  a competitor's prospects of generating excess returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We raise our 2021 estimates mainly as a result of rising prices from tight industry supply chains for products in the chemicals and materials segments, but we expect this temporary state to normalize in 2022.",
    "output": "[Cause] rising prices from tight industry supply chains for products in the chemicals and materials segments [Relation] cause [Effect] We raise our 2021 estimates",
    "gold": "[Cause] rising prices from tight industry supply chains for products in the chemicals and materials segments [Relation] cause [Effect] We raise our 2021 estimates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Airbnb's network advantage was established by attracting private accommodation owners to post their dwellings (supply side) on the company's platform, which in turn attracted more travelers (demand side) subsequently enticing more supply, creating a virtuous cycle that increases value for both new and existing users (hosts and guests).",
    "output": "[Cause] attracting private accommodation owners to post their dwellings (supply side) on the company's platform [Relation] enable [Effect] Airbnb's network advantage",
    "gold": "[Cause] private accommodation owners to post their dwellings (supply side) on the company's platform [Relation] cause [Effect] attracted more travelers (demand side) subsequently enticing more supply",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given our assumptions, we expect Fifth Third's return on tangible equity to be reach a longer-term average of about 12%, ahead of our 9% estimated cost of equity for the company.",
    "output": "[Cause] our assumptions [Relation] cause [Effect] we expect Fifth Third's return on tangible equity to be reach a longer-term average of about 12%, ahead of our 9% estimated cost of equity for the company",
    "gold": "[Cause] our assumptions [Relation] cause [Effect] we expect Fifth Third's return on tangible equity to be reach a longer-term average of about 12%, ahead of our 9% estimated cost of equity for the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see industrywide occupancy at peak levels now, so in a few years as supply begins to materially affect Extra Space's portfolio, we project occupancy rates to decrease materially.",
    "output": "[Cause] industrywide occupancy at peak levels now [Relation] cause [Effect] occupancy rates to decrease materially",
    "gold": "[Cause] supply begins to materially affect Extra Space's portfolio [Relation] enable [Effect] occupancy rates to decrease materially",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, automotive semiconductors have stringent quality requirements, so Infineon's expertise in automotive chip manufacturing is another area where the firm's expertise would be difficult for newcomers to replicate.",
    "output": "[Cause] automotive semiconductors have stringent quality requirements [Relation] cause [Effect] Infineon's expertise in automotive chip manufacturing is another area where the firm's expertise would be difficult for newcomers to replicate",
    "gold": "[Cause] automotive semiconductors have stringent quality requirements [Relation] cause [Effect] Infineon's expertise in automotive chip manufacturing is another area where the firm's expertise would be difficult for newcomers to replicate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we think CoreSite is less exposed to the power of cloud companies than many competitors due to its smaller footprint that consists almost entirely of uniquely connected properties, it still stands to lose enterprise tenants that could make a bigger move to cloud infrastructure.",
    "output": "[Cause] its smaller footprint that consists almost entirely of uniquely connected properties [Relation] cause [Effect] CoreSite is less exposed to the power of cloud companies than many competitors",
    "gold": "[Cause] its smaller footprint that consists almost entirely of uniquely connected properties [Relation] cause [Effect] CoreSite is less exposed to the power of cloud companies than many competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2018, Nike won a 10-year extension to its existing National Football League contract that has allowed it to remain the official provider of game-day uniforms and sideline apparel for the NFL.",
    "output": "[Cause] Nike won a 10-year extension to its existing National Football League contract [Relation] enable [Effect] it to remain the official provider of game-day uniforms and sideline apparel for the NFL",
    "gold": "[Cause]  Nike won a 10-year extension [Relation] cause [Effect] allowed it to remain the official provider",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Customers in this city prefer to deal with trusted advisers and so Beijing is home to a growing force of Prudential agents.",
    "output": "[Cause] Customers in this city prefer to deal with trusted advisers [Relation] cause [Effect] Beijing is home to a growing force of Prudential agents",
    "gold": "[Cause] Customers in this city prefer to deal with trusted advisers [Relation] cause [Effect]  Beijing is home to a growing force of Prudential agents",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But the San Bruno pipeline explosion in September 2010, allegations of gas pipeline mismanagement, and 2017-18 wildfire liabilities have sunk PG&amp;E's earned returns on capital.",
    "output": "[Cause] the San Bruno pipeline explosion in September 2010, allegations of gas pipeline mismanagement, and 2017-18 wildfire liabilities [Relation] cause [Effect] sunk PG&amp;E's earned returns on capital",
    "gold": "[Cause]  the San Bruno pipeline explosion in September 2010, allegations of gas pipeline mismanagement, and 2017-18 wildfire liabilities [Relation] cause [Effect] sunk PG&amp;E's earned returns on capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Pandemic lockdowns weighed on freight demand in early 2020, but retail shipments have turned robust on strong inventory restocking, and industrial end markets are recovering off pandemic lows.",
    "output": "[Cause] strong inventory restocking [Relation] enable [Effect] retail shipments have turned robust",
    "gold": "[Cause] strong inventory restocking [Relation] enable [Effect] retail shipments have turned robust",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On a stand alone basis, however, we maintain a very high uncertainty rating, largely reflecting its significant debt balance and disjointed roll up strategy.",
    "output": "[Cause] its significant debt balance and disjointed roll up strategy [Relation] cause [Effect] we maintain a very high uncertainty rating",
    "gold": "[Cause] we maintain a very high uncertainty rating [Relation] cause [Effect] its significant debt balance and disjointed roll up strategy",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "On a national level, we expect spending to increase about 6% annually, an acceleration from the last couple of decades, as inadequate historical funding has led to worsening conditions.",
    "output": "[Cause] inadequate historical funding has led to worsening conditions [Relation] cause [Effect] spending to increase about 6% annually, an acceleration from the last couple of decades",
    "gold": "[Cause] inadequate historical funding has led to worsening conditions [Relation] cause [Effect] spending to increase about 6% annually, an acceleration from the last couple of decades",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Product development and channel investments would also continuously rise at an 8% and 3% five-year CAGR in order to improve competitiveness, versus only a 3% top-line five-year CAGR.",
    "output": "[Cause] Product development and channel investments would also continuously rise at an 8% and 3% five-year CAGR [Relation] enable [Effect] improve competitiveness",
    "gold": "[Cause] Product development and channel investments would also continuously rise at an 8% and 3% five-year CAGR [Relation] enable [Effect] improve competitiveness",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, with its solid mix of fee income, Bank of America will be better insulated if rates decline as it is less dependent on rate-sensitive net interest income.",
    "output": "[Cause] its solid mix of fee income [Relation] cause [Effect] Bank of America will be better insulated if rates decline",
    "gold": "[Cause]  its solid mix of fee income [Relation] enable [Effect] Bank of America will be better insulated if rates decline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, with its solid mix of fee income, Bank of America will be better insulated if rates decline as it is less dependent on rate-sensitive net interest income.",
    "output": "[Cause] it is less dependent on rate-sensitive net interest income [Relation] cause [Effect] Bank of America will be better insulated if rates decline",
    "gold": "[Cause] it is less dependent on rate-sensitive net interest income [Relation] cause [Effect] Bank of America will be better insulated if rates decline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After fiscal 2020's pandemic-driven 4% drop in sales, we expect the metric to recover 16% in 2021 and 15% in 2022, as stores and salons reopen, social distancing mandates relax, and travel retail recovers.",
    "output": "[Cause] stores and salons reopen, social distancing mandates relax, and travel retail recovers [Relation] cause [Effect] the metric to recover 16% in 2021 and 15% in 2022",
    "gold": "[Cause] stores and salons reopen, social distancing mandates relax, and travel retail recovers [Relation] enable [Effect] the metric to recover 16% in 2021 and 15% in 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Volkswagen's products are highly engineered, requiring the company to attract and retain highly skilled human capital with expertise in software and various engineering disciplines.",
    "output": "[Cause] Volkswagen's products are highly engineered [Relation] cause [Effect] requiring the company to attract and retain highly skilled human capital with expertise in software and various engineering disciplines",
    "gold": "[Cause] Volkswagen's products are highly engineered [Relation] cause [Effect] requiring the company to attract and retain highly skilled human capital with expertise in software and various engineering disciplines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thus, once a company's product has been designed in, it is likely to remain in for the duration of the design life cycle. This results in high switching costs for NXP's automotive customers especially but also for certain industrial customers (particularly those purchasing industrial controls and factory automation solutions) and communication infrastructure customers (such as in transit systems).",
    "output": "[Cause] once a company's product has been designed in, it is likely to remain in for the duration of the design life cycle [Relation] cause [Effect] high switching costs for NXP's automotive customers especially but also for certain industrial customers (particularly those purchasing industrial controls and factory automation solutions) and communication infrastructure customers (such as in transit systems)",
    "gold": "[Cause] once a company's product has been designed in, it is likely to remain in for the duration of the design life cycle [Relation] cause [Effect] high switching costs for NXP's automotive customers especially but also for certain industrial customers (particularly those purchasing industrial controls and factory automation solutions) and communication infrastructure customers (such as in transit systems)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we think a shift in the mix toward more retail tenants and a higher number of interconnections will result in modest margin expansion.",
    "output": "[Cause] a shift in the mix toward more retail tenants and a higher number of interconnections [Relation] cause [Effect] modest margin expansion",
    "gold": "[Cause]  a shift in the mix toward more retail tenants and a higher number of interconnections [Relation] cause [Effect] modest margin expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We view the CoStar Suite business as a borderline monopoly in that it has no true threats in terms of competition.",
    "output": "[Cause] it has no true threats in terms of competition [Relation] cause [Effect] We view the CoStar Suite business as a borderline monopoly",
    "gold": "[Cause] it has no true threats in terms of competition [Relation] cause [Effect] We view the CoStar Suite business as a borderline monopoly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The television business is evolving, which will present challenges for NBCU, and 2020 will be difficult thanks to the COVID-19 pandemic, but we believe it has the breadth of assets to compete effectively in the years to come.",
    "output": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] 2020 will be difficult",
    "gold": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] 2020 will be difficult",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast price increases of roughly 3% per year, with weaker price growth in the Canadian recreational market due to Aphria's focus on flower and Canadian consumers' preference for value-added products.",
    "output": "[Cause] Aphria's focus on flower and Canadian consumers' preference for value-added products [Relation] cause [Effect] weaker price growth in the Canadian recreational market",
    "gold": "[Cause] weaker price growth in the Canadian recreational market due to Aphria's focus on flower and Canadian consumers' preference for value-added products [Relation] cause [Effect] We forecast price increases of roughly 3% per year",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe Huntington can continue to reduce structural costs as it brings a heightened focus to digital and mobile offerings over the next several years and beyond, and we expect the TCF merger will provide even more opportunities for scale and efficiency.",
    "output": "[Cause] it brings a heightened focus to digital and mobile offerings over the next several years and beyond [Relation] cause [Effect] Huntington can continue to reduce structural costs",
    "gold": "[Cause]  it brings a heightened focus to digital and mobile offerings over the next several years and beyond [Relation] enable [Effect] Huntington can continue to reduce structural costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Huntington can continue to reduce structural costs as it brings a heightened focus to digital and mobile offerings over the next several years and beyond, and we expect the TCF merger will provide even more opportunities for scale and efficiency.",
    "output": "[Cause] the TCF merger [Relation] enable [Effect] provide even more opportunities for scale and efficiency",
    "gold": "[Cause] the TCF merger [Relation] cause [Effect] provide even more opportunities for scale and efficiency",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This disintermediation in lending is a trend we expect to continue as capital requirements force loans that otherwise would have been held on a bank's balance sheet to migrate to nonbank investors.",
    "output": "[Cause] capital requirements force loans that otherwise would have been held on a bank's balance sheet to migrate to nonbank investors [Relation] cause [Effect] This disintermediation in lending is a trend we expect to continue",
    "gold": "[Cause]  capital requirements force loans that otherwise would have been held on a bank's balance sheet to migrate to nonbank investors [Relation] cause [Effect] This disintermediation in lending is a trend we expect to continue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm continues to spend on perpetual improvement in technology, which should lead the selling, general, administrative and technology ratio to only lever modestly in 2021.",
    "output": "[Cause] The firm continues to spend on perpetual improvement in technology [Relation] cause [Effect] the selling, general, administrative and technology ratio to only lever modestly in 2021",
    "gold": "[Cause] The firm continues to spend on perpetual improvement in technology [Relation] cause [Effect]  the selling, general, administrative and technology ratio to only lever modestly in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, its problems have been exacerbated by the coronavirus crisis, which caused a 29% drop in its revenue in 2020 and a nearly $1 billion adjusted operating loss.",
    "output": "[Cause] the coronavirus crisis [Relation] cause [Effect] its problems have been exacerbated",
    "gold": "[Cause] the coronavirus crisis [Relation] cause [Effect] its problems have been exacerbated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, its problems have been exacerbated by the coronavirus crisis, which caused a 29% drop in its revenue in 2020 and a nearly $1 billion adjusted operating loss.",
    "output": "[Cause] the coronavirus crisis [Relation] cause [Effect] a 29% drop in its revenue in 2020 and a nearly $1 billion adjusted operating loss",
    "gold": "[Cause] its problems have been exacerbated [Relation] cause [Effect] a 29% drop in its revenue in 2020 and a nearly $1 billion adjusted operating loss",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Health insurers could play key roles in a public option and could even benefit from the expansion of services provided, if the public option merely expands access to insurance rather than causes significant shifts in insurance sources.",
    "output": "[Cause] the public option merely expands access to insurance rather than causes significant shifts in insurance sources [Relation] cause [Effect] Health insurers could play key roles in a public option and could even benefit from the expansion of services provided",
    "gold": "[Cause] the public option merely expands access to insurance rather than causes significant shifts in insurance sources [Relation] cause [Effect] Health insurers could play key roles in a public option and could even benefit from the expansion of services provided",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The acquisition of McKesson's EIS helped Allscripts quickly enter the hospital segment with approximately 6% share, but we are skeptical that the company will be able to expand its share to effectively compete with Cerner and Epic, which together control more than 85% of the space.",
    "output": "[Cause] The acquisition of McKesson's EIS [Relation] enable [Effect] Allscripts quickly enter the hospital segment with approximately 6% share",
    "gold": "[Cause] Cerner and Epic, which together control more than 85% of the space [Relation] prevent [Effect] company will be able to expand its share",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The acquisition of McKesson's EIS helped Allscripts quickly enter the hospital segment with approximately 6% share, but we are skeptical that the company will be able to expand its share to effectively compete with Cerner and Epic, which together control more than 85% of the space.",
    "output": "[Cause] The acquisition of McKesson's EIS [Relation] enable [Effect] Allscripts quickly enter the hospital segment with approximately 6% share",
    "gold": "[Cause] The acquisition of McKesson's EIS [Relation] enable [Effect] Allscripts quickly enter the hospital segment with approximately 6% share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Quest sells at a higher average price point than Atkins, given Quest's premium positioning and added benefit of being made with natural, recognizable ingredients.",
    "output": "[Cause] Quest's premium positioning and added benefit of being made with natural, recognizable ingredients [Relation] cause [Effect] Quest sells at a higher average price point than Atkins",
    "gold": "[Cause]  Quest's premium positioning and added benefit of being made with natural, recognizable ingredients [Relation] cause [Effect] Quest sells at a higher average price point than Atkins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As with most E&P firms, a deteriorating outlook for oil and natural gas prices would pressure Laredo's profitability, reduce cash flows, and drive up financial leverage.",
    "output": "[Cause] a deteriorating outlook for oil and natural gas prices [Relation] cause [Effect] pressure Laredo's profitability, reduce cash flows, and drive up financial leverage",
    "gold": "[Cause] a deteriorating outlook for oil and natural gas prices [Relation] cause [Effect] pressure Laredo's profitability, reduce cash flows, and drive up financial leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The team agreements all expire after the 2020 season, but we expect Formula One Group and the teams to sign new contracts prior to the expiration, as both sides need the Formula One season to occur.",
    "output": "[Cause] both sides need the Formula One season to occur [Relation] cause [Effect] Formula One Group and the teams to sign new contracts prior to the expiration",
    "gold": "[Cause] both sides need the Formula One season to occur [Relation] cause [Effect] Formula One Group and the teams to sign new contracts prior to the expiration",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the past decade, Nucor's management team has stressed the importance of locking in flexibility on the sourcing of raw materials in an effort to optimize costs in any given market environment.",
    "output": "[Cause] Nucor's management team has stressed the importance of locking in flexibility on the sourcing of raw materials [Relation] enable [Effect] optimize costs in any given market environment",
    "gold": "[Cause] an effort to optimize costs in any given market environment [Relation] cause [Effect] Nucor's management team has stressed the importance of locking in flexibility on the sourcing of raw materials",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm materially trails Coca-Cola in these two metrics (by factors of 3 in both respects), owing to the latter's structurally lower-cost position in the supply chain (focusing primarily on beverage concentrates in lieu of finished drink manufacturing) as well as its more streamlined raw material procurement.",
    "output": "[Cause] the latter's structurally lower-cost position in the supply chain (focusing primarily on beverage concentrates in lieu of finished drink manufacturing) as well as its more streamlined raw material procurement [Relation] cause [Effect] The firm materially trails Coca-Cola in these two metrics (by factors of 3 in both respects)",
    "gold": "[Cause] the latter's structurally lower-cost position in the supply chain (focusing primarily on beverage concentrates in lieu of finished drink manufacturing) as well as its more streamlined raw material procurement [Relation] cause [Effect] The firm materially trails Coca-Cola in these two metrics (by factors of 3 in both respects)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are raising our fair value estimate for MercadoLibre to $1,300 per share from $1,020 due to a more optimistic near-term revenue growth forecast stemming from COVID-19-related market share gains and improved monetization potential.",
    "output": "[Cause] a more optimistic near-term revenue growth forecast stemming from COVID-19-related market share gains and improved monetization potential [Relation] cause [Effect] We are raising our fair value estimate for MercadoLibre to $1,300 per share from $1,020",
    "gold": "[Cause] a more optimistic near-term revenue growth forecast stemming from COVID-19-related market share gains and improved monetization potential [Relation] cause [Effect] We are raising our fair value estimate for MercadoLibre to $1,300 per share from $1,020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A new entrant would need to replicate hundreds or thousands of parts to become viable because of the uncertain demand for individual parts and because the cost of integrating a small PMA manufacturer in a complex maintenance operation would likely at least offset the potential savings on a part.",
    "output": "[Cause] the uncertain demand for individual parts [Relation] cause [Effect] A new entrant would need to replicate hundreds or thousands of parts to become viable",
    "gold": "[Cause] the uncertain demand for individual parts [Relation] cause [Effect] A new entrant would need to replicate hundreds or thousands of parts to become viable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A new entrant would need to replicate hundreds or thousands of parts to become viable because of the uncertain demand for individual parts and because the cost of integrating a small PMA manufacturer in a complex maintenance operation would likely at least offset the potential savings on a part.",
    "output": "[Cause] the cost of integrating a small PMA manufacturer in a complex maintenance operation [Relation] prevent [Effect] the potential savings on a part",
    "gold": "[Cause] the cost of integrating a small PMA manufacturer in a complex maintenance operation would likely at least offset the potential savings on a part [Relation] cause [Effect] A new entrant would need to replicate hundreds or thousands of parts to become viable",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Second, Twilio faces a degree of concentration risk, with its 10 largest customers contributing to 13% of revenue in 2019.",
    "output": "[Cause] its 10 largest customers contributing to 13% of revenue in 2019 [Relation] cause [Effect] Twilio faces a degree of concentration risk",
    "gold": "[Cause] its 10 largest customers contributing to 13% of revenue in 2019 [Relation] cause [Effect] Twilio faces a degree of concentration risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The shift away from showing lower-rated movies to original scripted and unscripted shows has attracted a larger audience for AMC's networks.",
    "output": "[Cause] The shift away from showing lower-rated movies to original scripted and unscripted shows [Relation] enable [Effect] attracted a larger audience for AMC's networks",
    "gold": "[Cause] The shift away from showing lower-rated movies to original scripted and unscripted shows [Relation] enable [Effect] attracted a larger audience for AMC's networks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "IUD market will double by 2030, as adoption rates converge with usage rates in the rest of the developed world.",
    "output": "[Cause] adoption rates converge with usage rates in the rest of the developed world [Relation] cause [Effect] IUD market will double by 2030",
    "gold": "[Cause] adoption rates converge with usage rates in the rest of the developed world [Relation] cause [Effect] IUD market will double by 2030",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We continue to have a positive outlook for 2021 thanks to PPD's strong backlog and solid net new business growth.",
    "output": "[Cause] PPD's strong backlog and solid net new business growth [Relation] cause [Effect] We continue to have a positive outlook for 2021",
    "gold": "[Cause] PPD's strong backlog and solid net new business growth [Relation] cause [Effect] We continue to have a positive outlook for 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think swapping databases like DB2 is not an easy decision for customers to make due to the cost and time required.",
    "output": "[Cause] the cost and time required [Relation] cause [Effect] swapping databases like DB2 is not an easy decision for customers to make",
    "gold": "[Cause] the cost and time required [Relation] cause [Effect] swapping databases like DB2 is not an easy decision for customers to make",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect an earnings improvement in 2021 thanks to a recovery in refining margins that will be partially offset by high RIN costs.",
    "output": "[Cause] a recovery in refining margins that will be partially offset by high RIN costs [Relation] cause [Effect] an earnings improvement in 2021",
    "gold": "[Cause] an earnings improvement in 2021 thanks to a recovery in refining margins [Relation] enable [Effect] will be partially offset by high RIN costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Therefore, AMN is in an advantageous position as the market leader overall and in the largest subsector of this staffing market, but still has formidable room to expand in this flourishing market due to secular trends of aging demographics and a dearth of qualified clinicians.",
    "output": "[Cause] secular trends of aging demographics and a dearth of qualified clinicians [Relation] cause [Effect] still has formidable room to expand in this flourishing market",
    "gold": "[Cause] secular trends of aging demographics and a dearth of qualified clinicians [Relation] enable [Effect] still has formidable room to expand in this flourishing market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that the company operates in less cyclical end markets, financial results are very stable and major profit swings are unlikely.",
    "output": "[Cause] the company operates in less cyclical end markets [Relation] cause [Effect] financial results are very stable and major profit swings are unlikely",
    "gold": "[Cause]  the company operates in less cyclical end markets [Relation] enable [Effect]  financial results are very stable and major profit swings are unlikely",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Many life insurance companies also significantly \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"de-risked\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" after the global financial crisis and became more conservative with their guaranteed benefit contracts, so we expect Ameriprise to navigate through the recent economic downturn well.",
    "output": "[Cause] Many life insurance companies also significantly \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"",
    "gold": "[Cause] Many life insurance companies [Relation] enable [Effect] Ameriprise to navigate through the recent economic downturn well",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As retailers spend more to attract buyers tempted by digital rivals' convenience, we expect the environment to remain competitive, with little margin for error.",
    "output": "[Cause] retailers spend more to attract buyers tempted by digital rivals' convenience [Relation] cause [Effect] the environment to remain competitive, with little margin for error",
    "gold": "[Cause]  retailers spend more to attract buyers tempted by digital rivals' convenience [Relation] cause [Effect]  the environment to remain competitive, with little margin for error",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Regions is large enough to be subject to the Federal Reserve's stress tests because it has more than $100 billion in assets, but it only has to go through the full process every two years.",
    "output": "[Cause] it has more than $100 billion in assets [Relation] cause [Effect] Regions is large enough to be subject to the Federal Reserve's stress tests",
    "gold": "[Cause] it has more than $100 billion in assets [Relation] cause [Effect] Regions is large enough to be subject to the Federal Reserve's stress tests",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, if the public option creates a scenario where a significant portion of the employer-based insurance population switches to government-sponsored plans, Cigna's commercial business may suffer.",
    "output": "[Cause] the public option creates a scenario [Relation] cause [Effect] a significant portion of the employer-based insurance population switches to government-sponsored plans",
    "gold": "[Cause] the public option creates a scenario [Relation] cause [Effect] Cigna's commercial business may suffer",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, if the public option creates a scenario where a significant portion of the employer-based insurance population switches to government-sponsored plans, Cigna's commercial business may suffer.",
    "output": "[Cause] the public option creates a scenario where a significant portion of the employer-based insurance population switches to government-sponsored plans [Relation] cause [Effect] Cigna's commercial business may suffer",
    "gold": "[Cause] a significant portion of the employer-based insurance population switches to government-sponsored plans [Relation] cause [Effect] the public option creates a scenario",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although Republic's traditional solid waste operations have been performing well, its recycling division has encountered painful headwinds--prices for recycled commodities the company extracts and sells, particularly old corrugated cardboard, plummeted on China's decision to suspend most import licenses in early 2018.",
    "output": "[Cause] China's decision to suspend most import licenses in early 2018 [Relation] cause [Effect] prices for recycled commodities the company extracts and sells, particularly old corrugated cardboard, plummeted",
    "gold": "[Cause] prices for recycled commodities the company extracts and sells [Relation] cause [Effect] plummeted on China's decision to suspend most import licenses in early 2018",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the U.S., we think Medicare-related plans will lead the way, growth-wise, due to demographic trends and the growing popularity of Medicare Advantage plans.",
    "output": "[Cause] demographic trends and the growing popularity of Medicare Advantage plans [Relation] cause [Effect] Medicare-related plans will lead the way, growth-wise",
    "gold": "[Cause]  Medicare-related plans will lead the way, growth-wise [Relation] enable [Effect] demographic trends and the growing popularity of Medicare Advantage plans",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Driving our financial model is our expectation for IBM to continue to shed market share in global IT services, leading to customer losses in its global business services.",
    "output": "[Cause] IBM to continue to shed market share in global IT services [Relation] cause [Effect] driving our financial model",
    "gold": "[Cause] our expectation for IBM to continue to shed market share in global IT services [Relation] cause [Effect] customer losses in its global business services",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "New cement kiln and quarry permits are difficult to obtain near well-populated areas due to \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"not in my backyard\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" tendencies, as kilns are highly pollutive and quarries use dynamite to loosen rocks that can be felt in nearby areas.",
    "output": "[Cause] kilns are highly pollutive and quarries use dynamite to loosen rocks that can be felt in nearby areas [Relation] cause [Effect] New cement kiln and quarry permits are difficult to obtain near well-populated areas",
    "gold": "[Cause] not in my backyard\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" tendencies [Relation] cause [Effect] New cement kiln and quarry permits are difficult to obtain near well-populated areas",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "New cement kiln and quarry permits are difficult to obtain near well-populated areas due to \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"not in my backyard\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" tendencies, as kilns are highly pollutive and quarries use dynamite to loosen rocks that can be felt in nearby areas.",
    "output": "[Cause] kilns are highly pollutive and quarries use dynamite to loosen rocks that can be felt in nearby areas [Relation] cause [Effect] New cement kiln and quarry permits are difficult to obtain near well-populated areas",
    "gold": "[Cause] kilns are highly pollutive and quarries use dynamite to loosen rocks that can be felt in nearby areas [Relation] cause [Effect] New cement kiln and quarry permits are difficult to obtain near well-populated areas",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the company's operating leverage, we expect gross margin to increase by nearly 200 basis points over the next five years as the company looks to overhaul its pricing structure.",
    "output": "[Cause] the company looks to overhaul its pricing structure [Relation] cause [Effect] gross margin to increase by nearly 200 basis points over the next five years",
    "gold": "[Cause]  the company looks to overhaul its pricing structure [Relation] enable [Effect] gross margin to increase by nearly 200 basis points over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The engineering design further eliminates the need for an internal rod that other competitors rely on that can cause overheating or loosening that ultimately lead to bushing failures.",
    "output": "[Cause] The engineering design [Relation] enable [Effect] eliminates the need for an internal rod that other competitors rely on",
    "gold": "[Cause] that can cause overheating or loosening that ultimately lead to bushing failures [Relation] cause [Effect] The engineering design further eliminates the need for an internal rod that other competitors rely on",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, the company's thirst for growth, vast financial flexibility, and balance sheet strength may lead to value-destructive acquisitions, such as pricey transactions executed in an already inflated market environment.",
    "output": "[Cause] the company's thirst for growth, vast financial flexibility, and balance sheet strength [Relation] cause [Effect] value-destructive acquisitions",
    "gold": "[Cause] the company's thirst for growth, vast financial flexibility, and balance sheet strength [Relation] cause [Effect] value-destructive acquisitions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If carriers don't have additional spectrum to deploy, their best alternative to improve their networks is densifying them--locating towers closer together.",
    "output": "[Cause] If carriers don't have additional spectrum to deploy [Relation] cause [Effect] their best alternative to improve their networks is densifying them--locating towers closer together",
    "gold": "[Cause] If carriers don't have additional spectrum to deploy [Relation] cause [Effect] their best alternative to improve their networks is densifying them--locating towers closer together",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Telefonica Brasil's reputation for quality, as seen in its outsize postpaid wireless presence and steadily expanding fiber-to-the-home fixed-line network, should serve it well going forward.",
    "output": "[Cause] its outsize postpaid wireless presence and steadily expanding fiber-to-the-home fixed-line network [Relation] enable [Effect] serve it well going forward",
    "gold": "[Cause] its outsize postpaid wireless presence and steadily expanding fiber-to-the-home fixed-line network [Relation] enable [Effect]  serve it well going forward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect product development expense to leverage to 11% of revenue in 2030 versus the 20% posted in 2019, which was a heavier investment year (2018's product development as a percent of sales was 15.9%), as Airbnb leverages a more complete network funded by near-term investment.",
    "output": "[Cause] Airbnb leverages a more complete network funded by near-term investment [Relation] cause [Effect] product development expense to leverage to 11% of revenue in 2030 versus the 20% posted in 2019",
    "gold": "[Cause] product development expense to leverage to 11% of revenue in 2030 versus the 20% posted in 2019 [Relation] enable [Effect] a heavier investment year",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also expect product development expense to leverage to 11% of revenue in 2030 versus the 20% posted in 2019, which was a heavier investment year (2018's product development as a percent of sales was 15.9%), as Airbnb leverages a more complete network funded by near-term investment.",
    "output": "[Cause] Airbnb leverages a more complete network funded by near-term investment [Relation] cause [Effect] product development expense to leverage to 11% of revenue in 2030 versus the 20% posted in 2019",
    "gold": "[Cause] Airbnb leverages a more complete network funded by near-term investment [Relation] cause [Effect] product development expense to leverage to 11% of revenue in 2030 versus the 20% posted in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This is because under these circumstances, prices have fallen and therefore Aegon no longer has adequate asset values to meet the annuity and guaranteed savings product cash flows.",
    "output": "[Cause] prices have fallen [Relation] cause [Effect] Aegon no longer has adequate asset values to meet the annuity and guaranteed savings product cash flows",
    "gold": "[Cause]  under these circumstances [Relation] cause [Effect] prices have fallen",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This is because under these circumstances, prices have fallen and therefore Aegon no longer has adequate asset values to meet the annuity and guaranteed savings product cash flows.",
    "output": "[Cause] prices have fallen [Relation] cause [Effect] Aegon no longer has adequate asset values to meet the annuity and guaranteed savings product cash flows",
    "gold": "[Cause] adequate asset values [Relation] enable [Effect] the annuity and guaranteed savings product cash flows",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These custom integrations make NICE's offering more tightly woven with the day-to-day functionalities of businesses and makes it important in facilitating communications.",
    "output": "[Cause] These custom integrations [Relation] enable [Effect] NICE's offering more tightly woven with the day-to-day functionalities of businesses",
    "gold": "[Cause] These custom integrations [Relation] enable [Effect] NICE's offering more tightly woven with the day-to-day functionalities of businesses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This network advantage is solidified by technology that integrates GDS content with back-office operations of agents and IT solutions of suppliers, leading to more accurate information that is also easier to book and service the end customer with.",
    "output": "[Cause] This network advantage is solidified by technology that integrates GDS content with back-office operations of agents and IT solutions of suppliers [Relation] cause [Effect] more accurate information that is also easier to book and service the end customer with",
    "gold": "[Cause] This network advantage is solidified by technology that integrates GDS content with back-office operations of agents and IT solutions of suppliers [Relation] cause [Effect] more accurate information that is also easier to book and service the end customer with",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While having cloud service providers as tenants can create a network effect at present, we see little to hold the cloud providers, giving them a disproportionate amount of power.",
    "output": "[Cause] little to hold the cloud providers [Relation] cause [Effect] disproportionate amount of power",
    "gold": "[Cause] little to hold the cloud providers [Relation] cause [Effect] disproportionate amount of power",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Vivo also holds the largest, and fastest growing, fiber network footprint in Brazil, which should allow the firm to stabilize and ultimately grow broadband market share.",
    "output": "[Cause] Vivo also holds the largest, and fastest growing, fiber network footprint in Brazil [Relation] enable [Effect] the firm to stabilize and ultimately grow broadband market share",
    "gold": "[Cause] Vivo also holds the largest, and fastest growing, fiber network footprint in Brazil [Relation] enable [Effect] the firm to stabilize and ultimately grow broadband market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, KLA has been able to charge a premium for its specialized products, as competitors' offerings are generally not as advanced.",
    "output": "[Cause] competitors' offerings are generally not as advanced [Relation] cause [Effect] KLA has been able to charge a premium for its specialized products",
    "gold": "[Cause]  competitors' offerings are generally not as advanced [Relation] cause [Effect] KLA has been able to charge a premium for its specialized products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The effect is to raise barriers to entry, thus assisting in keeping the market structure less competitive and promote the pricing power of Hardie, the most established player.",
    "output": "[Cause] raise barriers to entry [Relation] enable [Effect] promote the pricing power of Hardie, the most established player",
    "gold": "[Cause] raise barriers to entry [Relation] cause [Effect] promote the pricing power of Hardie, the most established player",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast EBIT margins tempering over our forecast as the firm reinvests in the business to remain competitive, spending on better technology, the e-commerce channel, and a faster supply chain.",
    "output": "[Cause] the firm reinvests in the business to remain competitive, spending on better technology, the e-commerce channel, and a faster supply chain [Relation] cause [Effect] EBIT margins tempering over our forecast",
    "gold": "[Cause] the firm reinvests in the business to remain competitive, spending on better technology, the e-commerce channel, and a faster supply chain [Relation] cause [Effect] EBIT margins tempering over our forecast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect an 8% drop in its 2020 hosiery and underwear sales as the Walmart private-label men's underwear deal cannot overcome weakness elsewhere.",
    "output": "[Cause] the Walmart private-label men's underwear deal cannot overcome weakness elsewhere [Relation] cause [Effect] an 8% drop in its 2020 hosiery and underwear sales",
    "gold": "[Cause] the Walmart private-label men's underwear deal cannot overcome weakness elsewhere [Relation] cause [Effect] an 8% drop in its 2020 hosiery and underwear sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Recommended cervical screening intervals have lengthened, reducing Pap smear volumes and forcing Hologic to preserve market share against Becton Dickinson.",
    "output": "[Cause] Recommended cervical screening intervals have lengthened [Relation] cause [Effect] reducing Pap smear volumes and forcing Hologic to preserve market share against Becton Dickinson",
    "gold": "[Cause] Recommended cervical screening intervals have lengthened [Relation] cause [Effect] reducing Pap smear volumes and forcing Hologic to preserve market share against Becton Dickinson",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These proposed regulatory changes would reduce the cost of drugs which is currently a pass-through to revenue and a basis of how pharmacy wholesalers are compensated.",
    "output": "[Cause] These proposed regulatory changes [Relation] enable [Effect] reduce the cost of drugs",
    "gold": "[Cause] These proposed regulatory changes [Relation] enable [Effect] reduce the cost of drugs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As vendors rarely disclose the number of category captains they employ, we use the number of category leadership positions (defined as being the category leader or a strong number two), proportionate to sales, as a proxy for category captaincies.",
    "output": "[Cause] vendors rarely disclose the number of category captains they employ [Relation] cause [Effect] we use the number of category leadership positions (defined as being the category leader or a strong number two), proportionate to sales, as a proxy for category captaincies",
    "gold": "[Cause] vendors rarely disclose the number of category captains they employ [Relation] cause [Effect] we use the number of category leadership positions (defined as being the category leader or a strong number two), proportionate to sales, as a proxy for category captaincies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the company's international presence creates revenue growth opportunities and diversification benefits, it also exposes Lincoln Electric to economic, political, and foreign exchange risks associated with its operations abroad.",
    "output": "[Cause] the company's international presence [Relation] enable [Effect] revenue growth opportunities and diversification benefits",
    "gold": "[Cause] the company's international presence [Relation] enable [Effect] revenue growth opportunities and diversification benefits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the company's international presence creates revenue growth opportunities and diversification benefits, it also exposes Lincoln Electric to economic, political, and foreign exchange risks associated with its operations abroad.",
    "output": "[Cause] the company's international presence [Relation] cause [Effect] exposes Lincoln Electric to economic, political, and foreign exchange risks associated with its operations abroad",
    "gold": "[Cause] the company's international presence [Relation] cause [Effect] exposes Lincoln Electric to economic, political, and foreign exchange risks associated with its operations abroad",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Consumers in areas affected by water supply constraints, such as Texas and California, contribute 75% of revenue to Scotts Miracle-Gro.",
    "output": "[Cause] Consumers in areas affected by water supply constraints [Relation] cause [Effect] 75% of revenue to Scotts Miracle-Gro",
    "gold": "[Cause] Consumers in areas affected by water supply constraints [Relation] enable [Effect] 75% of revenue to Scotts Miracle-Gro",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Gene therapy competitors like Sangamo/Pfizer and Roche (Spark) could also see delays as they are still enrolling phase 3 studies, which could improve BioMarin's early market share lead beginning in 2022.",
    "output": "[Cause] they are still enrolling phase 3 studies [Relation] cause [Effect] Gene therapy competitors like Sangamo/Pfizer and Roche (Spark) could also see delays",
    "gold": "[Cause] they are still enrolling phase 3 studies [Relation] cause [Effect] Gene therapy competitors like Sangamo/Pfizer and Roche (Spark) could also see delays",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The strength of its brand, coupled with its cost advantage, should enable the firm to foster new and deepening relationships with its customers by providing a better standard of service, protecting O'Reilly's results from competitive threats from smaller and like-sized peers.",
    "output": "[Cause] The strength of its brand, coupled with its cost advantage [Relation] enable [Effect] the firm to foster new and deepening relationships with its customers by providing a better standard of service, protecting O'Reilly's results from competitive threats from smaller and like-sized peers",
    "gold": "[Cause] The strength of its brand, coupled with its cost advantage [Relation] enable [Effect]  the firm to foster new and deepening relationships with its customers by providing a better standard of service, protecting O'Reilly's results from competitive threats from smaller and like-sized peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Along those lines, a lack of visibility surrounding the duration of economic recession sparked by the COVID-19 outbreak brings elevated uncertainty to our volume and pricing assumptions for 2020 and 2021.",
    "output": "[Cause] a lack of visibility surrounding the duration of economic recession sparked by the COVID-19 outbreak [Relation] cause [Effect] elevated uncertainty to our volume and pricing assumptions for 2020 and 2021",
    "gold": "[Cause] a lack of visibility surrounding the duration of economic recession sparked by the COVID-19 outbreak [Relation] enable [Effect]  elevated uncertainty to our volume and pricing assumptions for 2020 and 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the trend of outsourcing continues and the complexity of services provided increases, it will only become more difficult to switch firms.",
    "output": "[Cause] the trend of outsourcing continues and the complexity of services provided increases [Relation] cause [Effect] it will only become more difficult to switch firms",
    "gold": "[Cause]  the trend of outsourcing continues and the complexity of services provided increases [Relation] cause [Effect]  it will only become more difficult to switch firms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This allows hospitals to gain efficiencies by reducing duplicities, personnel costs and freeing up doctors' and nurses' time from redundant activities.",
    "output": "[Cause] reducing duplicities, personnel costs and freeing up doctors' and nurses' time from redundant activities [Relation] enable [Effect] hospitals to gain efficiencies",
    "gold": "[Cause] reducing duplicities, personnel costs and freeing up doctors' and nurses' time from redundant activities [Relation] enable [Effect] hospitals to gain efficiencies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume CNOOC's oil and gas output to rise at a compound annual growth rate of 6.4% from 2019 to 2024, supported by new projects coming on stream.",
    "output": "[Cause] new projects coming on stream [Relation] enable [Effect] CNOOC's oil and gas output to rise at a compound annual growth rate of 6.4% from 2019 to 2024",
    "gold": "[Cause] new projects coming on stream [Relation] cause [Effect] We assume CNOOC's oil and gas output to rise",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, as an E&C firm, Jacobs also faces significant event risk, such as legal disputes and cost overruns (which could be caused by a number of factors including labor shortages, subcontractor performance, inclement weather, and natural events), which could lead to large losses on individual projects.",
    "output": "[Cause] Jacobs also faces significant event risk [Relation] cause [Effect] large losses on individual projects",
    "gold": "[Cause]  legal disputes and cost overruns (which could be caused by a number of factors including labor shortages, subcontractor performance, inclement weather, and natural events) [Relation] enable [Effect] could lead to large losses on individual projects",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We project Shaw's capital intensity to continue declining as it gets beyond the initial stages of its rapid wireless network buildout.",
    "output": "[Cause] it gets beyond the initial stages of its rapid wireless network buildout [Relation] cause [Effect] Shaw's capital intensity to continue declining",
    "gold": "[Cause] it gets beyond the initial stages of its rapid wireless network buildout [Relation] cause [Effect]  Shaw's capital intensity to continue declining",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Marriott's strong brand and management expertise, along with these meaningful switching costs, results in low attrition of its managed and franchised customer base.",
    "output": "[Cause] Marriott's strong brand and management expertise, along with these meaningful switching costs [Relation] cause [Effect] low attrition of its managed and franchised customer base",
    "gold": "[Cause] Marriott's strong brand and management expertise, along with these meaningful switching costs [Relation] cause [Effect] low attrition of its managed and franchised customer base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Tyson's operating margin will dip below its normal 7%-8% range in fiscal 2021 to 6% as the firm invests in its chicken segment, which has suffered from executional missteps over the past few years.",
    "output": "[Cause] the firm invests in its chicken segment [Relation] cause [Effect] Tyson's operating margin will dip below its normal 7%-8% range in fiscal 2021 to 6%",
    "gold": "[Cause] the firm invests in its chicken segment [Relation] cause [Effect] Tyson's operating margin will dip below its normal 7%-8% range in fiscal 2021 to 6%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Tyson's operating margin will dip below its normal 7%-8% range in fiscal 2021 to 6% as the firm invests in its chicken segment, which has suffered from executional missteps over the past few years.",
    "output": "[Cause] the firm invests in its chicken segment [Relation] cause [Effect] Tyson's operating margin will dip below its normal 7%-8% range in fiscal 2021 to 6%",
    "gold": "[Cause] executional missteps [Relation] cause [Effect] Tyson's operating margin will dip below its normal 7%-8% range in fiscal 2021 to 6%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This field is regulated, and the Food and Drug Administration requires a closed loop, meaning only one diagnostic test is approved for a related drug. Therefore, the sustainability of that revenue stream is connected to each pharmaceutical product with exclusivity until the drug's patent expires, which can last for roughly 10 years after approval.",
    "output": "[Cause] This field is regulated, and the Food and Drug Administration requires a closed loop, meaning only one diagnostic test is approved for a related drug [Relation] cause [Effect] the sustainability of that revenue stream is connected to each pharmaceutical product with exclusivity until the drug's patent expires, which can last for roughly 10 years after approval",
    "gold": "[Cause] This field is regulated, and the Food and Drug Administration requires a closed loop, meaning only one diagnostic test is approved for a related drug [Relation] cause [Effect]  the sustainability of that revenue stream is connected to each pharmaceutical product with exclusivity until the drug's patent expires, which can last for roughly 10 years after approval",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As UnitedHealth's local market share rises, its negotiating leverage with healthcare suppliers particularly service providers also rises, which can create a virtuous cycle where UnitedHealth attracts even more clients and more providers to its insurance network.",
    "output": "[Cause] UnitedHealth's local market share rises [Relation] cause [Effect] its negotiating leverage with healthcare suppliers particularly service providers also rises",
    "gold": "[Cause] UnitedHealth's local market share rises [Relation] cause [Effect] its negotiating leverage with healthcare suppliers particularly service providers also rises",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As UnitedHealth's local market share rises, its negotiating leverage with healthcare suppliers particularly service providers also rises, which can create a virtuous cycle where UnitedHealth attracts even more clients and more providers to its insurance network.",
    "output": "[Cause] its negotiating leverage with healthcare suppliers particularly service providers also rises [Relation] cause [Effect] create a virtuous cycle where UnitedHealth attracts even more clients and more providers to its insurance network",
    "gold": "[Cause] create a virtuous cycle [Relation] cause [Effect] UnitedHealth attracts even more clients and more providers to its insurance network",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because of its mixed model, Allstate retains a higher amount of balance sheet leverage compared with many of its property-casualty insurance peers.",
    "output": "[Cause] its mixed model [Relation] cause [Effect] Allstate retains a higher amount of balance sheet leverage compared with many of its property-casualty insurance peers",
    "gold": "[Cause]  its mixed model [Relation] enable [Effect]  Allstate retains a higher amount of balance sheet leverage compared with many of its property-casualty insurance peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite first-quarter weather disruption, demand across most end markets is rebounding nicely this year as lockdowns ease and economic activity recovers (especially the retail sector).",
    "output": "[Cause] lockdowns ease and economic activity recovers (especially the retail sector) [Relation] cause [Effect] demand across most end markets is rebounding nicely this year",
    "gold": "[Cause] lockdowns ease and economic activity recovers (especially the retail sector) [Relation] cause [Effect]  demand across most end markets is rebounding nicely this year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even though ArcelorMittal's scale, geographic diversification, and multifaceted end market exposure may help reduce earnings volatility, they don't materially improve the likelihood that the company will be able to consistently generate returns on invested capital in excess of its weighted average cost of capital.",
    "output": "[Cause] ArcelorMittal's scale, geographic diversification, and multifaceted end market exposure [Relation] enable [Effect] reduce earnings volatility",
    "gold": "[Cause]  ArcelorMittal's scale, geographic diversification, and multifaceted end market exposure [Relation] enable [Effect]  reduce earnings volatility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that the value of Coupa's holistic spend management platform will drive new enterprise customer adoption and further entrench existing customers within Coupa.",
    "output": "[Cause] the value of Coupa's holistic spend management platform [Relation] enable [Effect] drive new enterprise customer adoption and further entrench existing customers within Coupa",
    "gold": "[Cause] the value of Coupa's holistic spend management platform [Relation] cause [Effect] drive new enterprise customer adoption and further entrench existing customers within Coupa",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Recently, management has focused on streamlining operations through reducing duplicative manufacturing operations, standardizing ERP systems, and a global strategic sourcing initiative.",
    "output": "[Cause] reducing duplicative manufacturing operations, standardizing ERP systems, and a global strategic sourcing initiative [Relation] enable [Effect] management has focused on streamlining operations",
    "gold": "[Cause]  reducing duplicative manufacturing operations, standardizing ERP systems, and a global strategic sourcing initiative [Relation] enable [Effect]  management has focused on streamlining operations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Teladoc's business-to-business relationships cater to large subscription bases from payer and self-funded employers, which means revenue is concentrated among the largest customers.",
    "output": "[Cause] Teladoc's business-to-business relationships cater to large subscription bases from payer and self-funded employers [Relation] cause [Effect] revenue is concentrated among the largest customers",
    "gold": "[Cause] Teladoc's business-to-business relationships cater to large subscription bases from payer and self-funded employers [Relation] enable [Effect] revenue is concentrated among the largest customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And in the U.S., where BAE Systems has a 60% share of the non-nuclear Naval repair market, the strategically located shipyards afford it a geographical advantage as there is usually only one shipyard supporting an entire region.",
    "output": "[Cause] there is usually only one shipyard supporting an entire region [Relation] cause [Effect] the strategically located shipyards afford it a geographical advantage",
    "gold": "[Cause] there is usually only one shipyard supporting an entire region [Relation] cause [Effect]  the strategically located shipyards afford it a geographical advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we believe the small premium is warranted, given the solid electricity growth and constructive regulatory framework in Virginia, its largest service territory.",
    "output": "[Cause] the solid electricity growth and constructive regulatory framework in Virginia, its largest service territory [Relation] cause [Effect] the small premium is warranted",
    "gold": "[Cause]  the solid electricity growth and constructive regulatory framework in Virginia, its largest service territory [Relation] cause [Effect] the small premium is warranted",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given its entrenched supply chain position, pricing power in specialised nutrition, and a durable cost edge, we believe the firm is poised to meet changing consumer demands while generating healthy returns.",
    "output": "[Cause] its entrenched supply chain position, pricing power in specialised nutrition, and a durable cost edge [Relation] enable [Effect] the firm is poised to meet changing consumer demands while generating healthy returns",
    "gold": "[Cause] its entrenched supply chain position, pricing power in specialised nutrition, and a durable cost edge [Relation] cause [Effect] the firm is poised to meet changing consumer demands while generating healthy returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the First Niagara acquisition has been a very positive step here, and the bank is now on a path to consistent performance in the mid- to upper-50s.",
    "output": "[Cause] the bank is now on a path to consistent performance in the mid- to upper-50s [Relation] enable [Effect] the First Niagara acquisition has been a very positive step here",
    "gold": "[Cause] the bank is now on a path to consistent performance in the mid- to upper-50s [Relation] cause [Effect] the First Niagara acquisition has been a very positive step here",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Match Group has been a first-mover in creating useful and attractive features on its offerings such as the right and left swipes, match likelihood, passport, or boost on Tinder, we note that it lacks intangible assets protecting such innovation, practically eliminating any barriers to entry.",
    "output": "[Cause] it lacks intangible assets protecting such innovation [Relation] cause [Effect] practically eliminating any barriers to entry",
    "gold": "[Cause] it lacks intangible assets protecting such innovation [Relation] cause [Effect] practically eliminating any barriers to entry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To be effective for money transfers, payment options need to be available on both sides of the transaction, both sending and receiving. As a result, conditions in the less developed recipient countries typically limit the potential reach of any money transfer method.",
    "output": "[Cause] To be effective for money transfers, payment options need to be available on both sides of the transaction, both sending and receiving [Relation] cause [Effect] conditions in the less developed recipient countries typically limit the potential reach of any money transfer method",
    "gold": "[Cause] To be effective for money transfers, payment options need to be available on both sides of the transaction, both sending and receiving [Relation] cause [Effect] conditions in the less developed recipient countries typically limit the potential reach of any money transfer method",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, in recent years, this sector's demand has been low relative to historical levels amid underfunding that has led to worsening conditions.",
    "output": "[Cause] underfunding [Relation] cause [Effect] worsening conditions",
    "gold": "[Cause] underfunding [Relation] cause [Effect] worsening conditions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, in recent years, this sector's demand has been low relative to historical levels amid underfunding that has led to worsening conditions.",
    "output": "[Cause] underfunding [Relation] cause [Effect] worsening conditions",
    "gold": "[Cause] worsening conditions [Relation] cause [Effect] his sector's demand has been low relative to historical levels",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The exclusivity of the x86 license serves as a major barrier to entry for other chipmakers (such as Qualcomm, Broadcom, and so on) that cannot make an x86 processor without a license.",
    "output": "[Cause] The exclusivity of the x86 license serves as a major barrier to entry for other chipmakers (such as Qualcomm, Broadcom, and so on) that cannot make an x86 processor without a license [Relation] cause [Effect] The exclusivity of the x86 license serves as a major barrier to entry for other chipmakers",
    "gold": "[Cause] The exclusivity of the x86 license serves as a major barrier to entry [Relation] cause [Effect] other chipmakers (such as Qualcomm, Broadcom, and so on) that cannot make an x86 processor without a license",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Tightening environmental compliance regulations could require significant capital investment or added operating costs that may have uncertain cost recovery in traditional regulated rates.",
    "output": "[Cause] Tightening environmental compliance regulations [Relation] cause [Effect] require significant capital investment or added operating costs",
    "gold": "[Cause] Tightening environmental compliance regulations [Relation] enable [Effect] require significant capital investment or added operating costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Whereas our growth expectations are flattish for the upcoming year, we expect sales to grow at a 4% CAGR over the next five years, owing to a robust global economic recovery from the COVID-19 pandemic.",
    "output": "[Cause] a robust global economic recovery from the COVID-19 pandemic [Relation] cause [Effect] sales to grow at a 4% CAGR over the next five years",
    "gold": "[Cause] a robust global economic recovery from the COVID-19 pandemic [Relation] cause [Effect] sales to grow at a 4% CAGR over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect net earned premiums to grow at a modest 4% compound annual rate over our five-year forecast, with better growth in the near-term as pricing improves.",
    "output": "[Cause] pricing improves [Relation] enable [Effect] better growth in the near-term",
    "gold": "[Cause] We expect net earned premiums to grow at a modest 4% compound annual rate over our five-year forecast [Relation] enable [Effect] with better growth in the near-term as pricing improves",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Overall, we expect annual earnings per share growth will average 5% during the next five years, as strong growth in new pipeline drugs should offset some patent losses in the pharmaceutical division.",
    "output": "[Cause] strong growth in new pipeline drugs should offset some patent losses in the pharmaceutical division [Relation] cause [Effect] annual earnings per share growth will average 5% during the next five years",
    "gold": "[Cause] strong growth in new pipeline drugs should offset some patent losses in the pharmaceutical division [Relation] cause [Effect] annual earnings per share growth will average 5% during the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see almost no growth prospects in canned food or aerosols in these markets, as developed-market consumers are unlikely to increase their consumption of canned products.",
    "output": "[Cause] developed-market consumers are unlikely to increase their consumption of canned products [Relation] cause [Effect] almost no growth prospects in canned food or aerosols in these markets",
    "gold": "[Cause] developed-market consumers are unlikely to increase their consumption of canned products [Relation] cause [Effect] almost no growth prospects in canned food or aerosols in these markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In terms of operating expenses growth, we expect management to be conservative given the headwinds and thus forecast relatively flat to low-single-digit percent expense levels over the next few years.",
    "output": "[Cause] management to be conservative given the headwinds [Relation] cause [Effect] relatively flat to low-single-digit percent expense levels over the next few years",
    "gold": "[Cause] management to be conservative given the headwinds [Relation] cause [Effect]  relatively flat to low-single-digit percent expense levels over the next few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This decline in organic brokerage asset growth won't necessarily reduce overall brokerage assets in the long term because of market effects.",
    "output": "[Cause] market effects [Relation] cause [Effect] This decline in organic brokerage asset growth won't necessarily reduce overall brokerage assets in the long term",
    "gold": "[Cause] market effects [Relation] cause [Effect] This decline in organic brokerage asset growth won't necessarily reduce overall brokerage assets in the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume slightly higher growth rates than historically for the monitoring business, as we believe COVID-19 has been a trigger for hospitals to realize efficiencies from having remote monitoring systems.",
    "output": "[Cause] COVID-19 has been a trigger for hospitals to realize efficiencies from having remote monitoring systems [Relation] cause [Effect] slightly higher growth rates than historically for the monitoring business",
    "gold": "[Cause] COVID-19 has been a trigger for hospitals to realize efficiencies from having remote monitoring systems [Relation] cause [Effect] slightly higher growth rates than historically for the monitoring business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Most of the company's services were likely born from its Network Solutions segment as it is a medical and dental claim clearing house that services both payers and providers.",
    "output": "[Cause] it is a medical and dental claim clearing house that services both payers and providers [Relation] cause [Effect] Most of the company's services were likely born from its Network Solutions segment",
    "gold": "[Cause]  it is a medical and dental claim clearing house that services both payers and providers [Relation] cause [Effect] Most of the company's services were likely born from its Network Solutions segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the COVID-19 pandemic, it became clear how quickly production rates could decrease, which in turn dragged down Hexcel's commercial aerospace revenue by almost 50% for the full year 2020 versus 2019.",
    "output": "[Cause] In the COVID-19 pandemic, it became clear how quickly production rates could decrease [Relation] cause [Effect] dragged down Hexcel's commercial aerospace revenue by almost 50% for the full year 2020 versus 2019",
    "gold": "[Cause] In the COVID-19 pandemic, it became clear how quickly production rates could decrease [Relation] cause [Effect]  dragged down Hexcel's commercial aerospace revenue by almost 50% for the full year 2020 versus 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's analytical tools and services aim to improve care quality and improve efficiency in the healthcare system through a variety of solutions, including population health and risk analytics, consulting services to improve clinical performance and reduce administrative costs, and revenue cycle management tools.",
    "output": "[Cause] a variety of solutions, including population health and risk analytics, consulting services to improve clinical performance and reduce administrative costs, and revenue cycle management tools [Relation] enable [Effect] improve care quality and improve efficiency in the healthcare system",
    "gold": "[Cause]  improve care quality and improve efficiency in the healthcare system through a variety of solutions, including population health and risk analytics, consulting services to improve clinical performance and reduce administrative costs, and revenue cycle management tools [Relation] enable [Effect] The company's analytical tools and services",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This change in affordability could suppress homeownership rates as people attempt to build up larger down payments or forgo purchasing a house until monthly payments become more palatable.",
    "output": "[Cause] people attempt to build up larger down payments or forgo purchasing a house until monthly payments become more palatable [Relation] cause [Effect] This change in affordability could suppress homeownership rates",
    "gold": "[Cause] people attempt to build up larger down payments or forgo purchasing a house until monthly payments become more palatable [Relation] cause [Effect] This change in affordability could suppress homeownership rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From here, we do see room for some margin expansion as Grainger wins business from higher-margin spot buy purchasers and midsize accounts.",
    "output": "[Cause] Grainger wins business from higher-margin spot buy purchasers and midsize accounts [Relation] cause [Effect] room for some margin expansion",
    "gold": "[Cause]  Grainger wins business from higher-margin spot buy purchasers and midsize accounts [Relation] enable [Effect] room for some margin expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Hilton has a strong and growing loyalty program that drives significant demand driver for Park's portfolio, Park must deal with the costs of servicing that program.",
    "output": "[Cause] Hilton has a strong and growing loyalty program [Relation] enable [Effect] significant demand driver for Park's portfolio",
    "gold": "[Cause] Hilton has a strong and growing loyalty program [Relation] cause [Effect] significant demand driver for Park's portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At the same time, the benefits of switching can be difficult to measure, as pricing is somewhat opaque and future performance is unknowable.",
    "output": "[Cause] pricing is somewhat opaque and future performance is unknowable [Relation] cause [Effect] the benefits of switching can be difficult to measure",
    "gold": "[Cause] [Relation] cause [Effect] the benefits of switching can be difficult to measure | as pricing is somewhat opaque and future performance is unknowable",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The bank is admittedly quite sensitive to rates, and therefore the rate cycle will play a role in its efficiency, but through the cycle we see good enough efficiency for the bank.",
    "output": "[Cause] The bank is admittedly quite sensitive to rates [Relation] cause [Effect] the rate cycle will play a role in its efficiency",
    "gold": "[Cause] The bank is admittedly quite sensitive to rates [Relation] cause [Effect]  the rate cycle will play a role in its efficiency",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its most publicized large pharma partnership was inked in 2016 with Takeda, which resulted in a joint venture in 2017 that further integrated the CRO with Takeda's business in Japan.",
    "output": "[Cause] Its most publicized large pharma partnership was inked in 2016 with Takeda [Relation] cause [Effect] a joint venture in 2017 that further integrated the CRO with Takeda's business in Japan",
    "gold": "[Cause] Its most publicized large pharma partnership was inked in 2016 with Takeda [Relation] cause [Effect] a joint venture in 2017 that further integrated the CRO with Takeda's business in Japan",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect capital expenditures to be low for fiscal 2020 at about 6.5% of revenue and then revert to normalized levels at about 9% of revenue until fiscal 2024, as the company has already made significant capital investments over the past five years.",
    "output": "[Cause] the company has already made significant capital investments over the past five years [Relation] cause [Effect] capital expenditures to be low for fiscal 2020 at about 6.5% of revenue and then revert to normalized levels at about 9% of revenue until fiscal 2024",
    "gold": "[Cause]  the company has already made significant capital investments over the past five years [Relation] cause [Effect] capital expenditures to be low for fiscal 2020 at about 6.5% of revenue and then revert to normalized levels at about 9% of revenue until fiscal 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Higher prices for processed chicken, coupled with modest inflation in chicken feed, should boost segment operating margins longer term from 1% in 2020 to 8% by 2022.",
    "output": "[Cause] Higher prices for processed chicken, coupled with modest inflation in chicken feed [Relation] enable [Effect] boost segment operating margins longer term from 1% in 2020 to 8% by 2022",
    "gold": "[Cause] Higher prices for processed chicken, coupled with modest inflation in chicken feed [Relation] cause [Effect]  boost segment operating margins longer term from 1% in 2020 to 8% by 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "When interest rate hikes are coupled with a cyclical downturn, customers' default risks could increase, resulting in a potential increase in bad debts.",
    "output": "[Cause] customers' default risks could increase [Relation] cause [Effect] a potential increase in bad debts",
    "gold": "[Cause] customers' default risks could increase [Relation] cause [Effect] a potential increase in bad debts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There tends to be little to no product differentiation in memory (DRAM) or storage (NAND), with average selling prices normally tracking downward over time. This ultimately leads to major price competition between industry leader Samsung and second-tier firms such as Micron and SK Hynix, though the three firms have been acting more rationally in recent years to avoid price wars.",
    "output": "[Cause] There tends to be little to no product differentiation in memory (DRAM) or storage (NAND), with average selling prices normally tracking downward over time [Relation] cause [Effect] major price competition between industry leader Samsung and second-tier firms such as Micron and SK Hynix, though the three firms have been acting more rationally in recent years to avoid price wars",
    "gold": "[Cause] There tends to be little to no product differentiation in memory (DRAM) or storage (NAND), with average selling prices normally tracking downward over time [Relation] cause [Effect]  major price competition between industry leader Samsung and second-tier firms such as Micron and SK Hynix, though the three firms have been acting more rationally in recent years to avoid price wars",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Snap-on's hand tools business and its reliance on a high-touch model could be disrupted by e-commerce as younger technicians get more comfortable making time-sensitive purchases of tools online.",
    "output": "[Cause] younger technicians get more comfortable making time-sensitive purchases of tools online [Relation] cause [Effect] Snap-on's hand tools business and its reliance on a high-touch model could be disrupted by e-commerce",
    "gold": "[Cause] younger technicians get more comfortable making time-sensitive purchases of tools online [Relation] cause [Effect] Snap-on's hand tools business and its reliance on a high-touch model could be disrupted by e-commerce",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect comparable sales growth to taper from 7% in fiscal 2020 to around 5% in fiscal 2021 as the pandemic continues to lift sales but conditions begin to normalize as vaccines become more widespread.",
    "output": "[Cause] the pandemic continues to lift sales but conditions begin to normalize as vaccines become more widespread [Relation] cause [Effect] comparable sales growth to taper from 7% in fiscal 2020 to around 5% in fiscal 2021",
    "gold": "[Cause] the pandemic continues to lift sales but conditions begin to normalize as vaccines become more widespread [Relation] cause [Effect] comparable sales growth to taper from 7% in fiscal 2020 to around 5% in fiscal 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, the cyclical nature of the chip industry is a ubiquitous threat to equipment makers, as capital expenditures for customers can be highly volatile.",
    "output": "[Cause] capital expenditures for customers can be highly volatile [Relation] cause [Effect] the cyclical nature of the chip industry is a ubiquitous threat to equipment makers",
    "gold": "[Cause] capital expenditures for customers can be highly volatile [Relation] cause [Effect] the cyclical nature of the chip industry is a ubiquitous threat to equipment makers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Consequently, we expect a long-term research and development spending rate as a percentage of sales in the low 20s implying a long-term operating margin near 17% as we reach midcycle.",
    "output": "[Cause] a long-term research and development spending rate as a percentage of sales in the low 20s [Relation] cause [Effect] a long-term operating margin near 17% as we reach midcycle",
    "gold": "[Cause]  a long-term research and development spending rate as a percentage of sales in the low 20s [Relation] cause [Effect] a long-term operating margin near 17% as we reach midcycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Of course, like all E&P firms, Hess is exposed to a range of potential environmental, social, and governance issues that could hurt its ability to generate strong returns.",
    "output": "[Cause] Hess is exposed to a range of potential environmental, social, and governance issues [Relation] cause [Effect] hurt its ability to generate strong returns",
    "gold": "[Cause] Hess is exposed to a range of potential environmental, social, and governance issues [Relation] enable [Effect] hurt its ability to generate strong returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, as the firm has become more focused on cancer, any major changes to the pricing around the cancer class of drugs could significantly impact the firm.",
    "output": "[Cause] the firm has become more focused on cancer [Relation] cause [Effect] any major changes to the pricing around the cancer class of drugs could significantly impact the firm",
    "gold": "[Cause] any major changes to the pricing around the cancer class of drugs [Relation] cause [Effect] could significantly impact the firm",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As with Google search, we see network effects from large and growing user bases of other products, such as Maps, Gmail, and Chrome, all of which create value for users and advertisers.",
    "output": "[Cause] network effects from large and growing user bases of other products [Relation] enable [Effect] create value for users and advertisers",
    "gold": "[Cause] network effects from large and growing user bases of other products [Relation] enable [Effect] create value for users and advertisers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the concentrate producer wants to take a 10% price increase, all else equal, this would result in a 3.7% COGS increase for the bottler and, if the bottler passes it through to maintain its margin, a 2.1% price increase for the retailer.",
    "output": "[Cause] the concentrate producer wants to take a 10% price increase [Relation] cause [Effect] a 3.7% COGS increase for the bottler",
    "gold": "[Cause] the concentrate producer wants to take a 10% price increase [Relation] cause [Effect] a 3.7% COGS increase for the bottler",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the concentrate producer wants to take a 10% price increase, all else equal, this would result in a 3.7% COGS increase for the bottler and, if the bottler passes it through to maintain its margin, a 2.1% price increase for the retailer.",
    "output": "[Cause] the bottler passes it through to maintain its margin [Relation] cause [Effect] a 2.1% price increase for the retailer",
    "gold": "[Cause]  the bottler passes it through to maintain its margin [Relation] cause [Effect] a 2.1% price increase for the retailer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect top-line growth and some additional cost control of office and general expenses to expand operating margin from a three-year average of 12.7% to an average of more than 13% during the next 10 years.",
    "output": "[Cause] top-line growth and some additional cost control of office and general expenses [Relation] enable [Effect] expand operating margin from a three-year average of 12.7% to an average of more than 13% during the next 10 years",
    "gold": "[Cause] top-line growth and some additional cost control of office and general expenses [Relation] enable [Effect] expand operating margin from a three-year average of 12.7% to an average of more than 13% during the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For 2021, we expect revenue to jump 8%-9% on solid intermodal growth (aided by unusually tight truckload market capacity and robust retailer restocking), automotive volume recovery, and industrial end-market improvement.",
    "output": "[Cause] solid intermodal growth (aided by unusually tight truckload market capacity and robust retailer restocking), automotive volume recovery, and industrial end-market improvement [Relation] enable [Effect] revenue to jump 8%-9%",
    "gold": "[Cause]  unusually tight truckload market capacity and robust retailer restocking [Relation] enable [Effect] solid intermodal growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For 2021, we expect revenue to jump 8%-9% on solid intermodal growth (aided by unusually tight truckload market capacity and robust retailer restocking), automotive volume recovery, and industrial end-market improvement.",
    "output": "[Cause] automotive volume recovery, and industrial end-market improvement [Relation] enable [Effect] revenue to jump 8%-9%",
    "gold": "[Cause] solid intermodal growth [Relation] enable [Effect]  revenue to jump 8%-9%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Within this segment, we expect the top line will be driven mostly by unit growth, as continued demographic and secular tailwinds support volumes within its imported beer portfolio.",
    "output": "[Cause] continued demographic and secular tailwinds support volumes within its imported beer portfolio [Relation] cause [Effect] the top line will be driven mostly by unit growth",
    "gold": "[Cause] continued demographic and secular tailwinds support volumes within its imported beer portfolio [Relation] cause [Effect] the top line will be driven mostly by unit growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Throughout the Great Recession, the firm kept its head above water via impressive rate discipline and steadfast investment in network capacity.",
    "output": "[Cause] impressive rate discipline and steadfast investment in network capacity [Relation] enable [Effect] the firm kept its head above water",
    "gold": "[Cause] impressive rate discipline and steadfast investment in network capacity [Relation] cause [Effect] the firm kept its head above water",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These changes, net of our increased effective tax rate assumption (Morningstar assumes a 26% corporate tax rate effective in 2022), caused our fair value estimate to increase 4% to $52 per share.",
    "output": "[Cause] These changes, net of our increased effective tax rate assumption (Morningstar assumes a 26% corporate tax rate effective in 2022) [Relation] cause [Effect] our fair value estimate to increase 4% to $52 per share",
    "gold": "[Cause] These changes, net of our increased effective tax rate assumption (Morningstar assumes a 26% corporate tax rate effective in 2022) [Relation] cause [Effect] our fair value estimate to increase 4% to $52 per share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A customer would face little motivation to switch to a marginally cheaper supplier just to save half a percent of their total cost, given the potentially cataclysmic blow to the customer's reputation and profits that would arise from an ill-performing new system.",
    "output": "[Cause] an ill-performing new system [Relation] cause [Effect] the potentially cataclysmic blow to the customer's reputation and profits",
    "gold": "[Cause] an ill-performing new system [Relation] cause [Effect] the potentially cataclysmic blow to the customer's reputation and profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This suggests that Vallourec's ability to preserve a rational duopoly with Tenaris in international premium OCTG markets may be tested by an eagerness to gain market share.",
    "output": "[Cause] Vallourec's ability to preserve a rational duopoly with Tenaris in international premium OCTG markets [Relation] cause [Effect] be tested by an eagerness to gain market share",
    "gold": "[Cause] Vallourec's ability to preserve a rational duopoly with Tenaris in international premium OCTG markets [Relation] cause [Effect] be tested by an eagerness to gain market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Viper's cost advantage stems from acquiring minerals rights at prices that allow it to consistently earn returns on invested capital above its weighted average cost of capital.",
    "output": "[Cause] Viper's cost advantage stems from acquiring minerals rights at prices [Relation] enable [Effect] consistently earn returns on invested capital above its weighted average cost of capital",
    "gold": "[Cause] Viper's cost advantage stems from acquiring minerals rights at prices [Relation] enable [Effect] consistently earn returns on invested capital above its weighted average cost of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our pessimistic view of the Missouri and Kansas regulation puts our earnings growth at the bottom of management's 6%-8% target.",
    "output": "[Cause] Our pessimistic view of the Missouri and Kansas regulation [Relation] cause [Effect] our earnings growth at the bottom of management's 6%-8% target",
    "gold": "[Cause] Our pessimistic view of the Missouri and Kansas regulation [Relation] cause [Effect]  our earnings growth at the bottom of management's 6%-8% target",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we expect the Legg Mason deal to keep margins from deteriorating in the face of industrywide fee compression and rising costs (necessary to improve investment performance and enhance product distribution), near-term organic growth will still be negative (albeit less negative than for a stand-alone Franklin).",
    "output": "[Cause] industrywide fee compression and rising costs [Relation] cause [Effect] the Legg Mason deal to keep margins from deteriorating",
    "gold": "[Cause]  industrywide fee compression and rising costs [Relation] enable [Effect]  improve investment performance and enhance product distribution",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we expect the Legg Mason deal to keep margins from deteriorating in the face of industrywide fee compression and rising costs (necessary to improve investment performance and enhance product distribution), near-term organic growth will still be negative (albeit less negative than for a stand-alone Franklin).",
    "output": "[Cause] industrywide fee compression and rising costs [Relation] cause [Effect] improve investment performance and enhance product distribution",
    "gold": "[Cause]  industrywide fee compression and rising costs [Relation] enable [Effect] Legg Mason deal to keep margins from deteriorating",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Landstar's net revenue grew a robust 24% in 2018 on historically tight truckload-market capacity rooted in widespread ELD adoption among truckers.",
    "output": "[Cause] widespread ELD adoption among truckers [Relation] cause [Effect] Landstar's net revenue grew a robust 24% in 2018 on historically tight truckload-market capacity",
    "gold": "[Cause] widespread ELD adoption among truckers [Relation] cause [Effect] Landstar's net revenue grew a robust 24% in 2018 on historically tight truckload-market capacity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the diversity of Pepsi's portfolio and the vast resources at its disposal should help the firm navigate these risks, we do not think any entity is completely immune to them.",
    "output": "[Cause] the diversity of Pepsi's portfolio and the vast resources at its disposal [Relation] enable [Effect] the firm navigate these risks",
    "gold": "[Cause]  the diversity of Pepsi's portfolio and the vast resources at its disposal [Relation] enable [Effect] the firm navigate these risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A Zebra replacement might be lacking in printing or RFID ability, for example, which would mean finding multiple vendors to accomplish what Zebra could do by itself.",
    "output": "[Cause] A Zebra replacement might be lacking in printing or RFID ability [Relation] cause [Effect] finding multiple vendors to accomplish what Zebra could do by itself",
    "gold": "[Cause] A Zebra replacement might be lacking in printing or RFID ability [Relation] cause [Effect]  finding multiple vendors to accomplish what Zebra could do by itself",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company made its name over past century by providing the best diesel engines on the market, but it's evident today that the industry is shifting to more emission-reducing products due to increasing emissions regulation globally.",
    "output": "[Cause] increasing emissions regulation globally [Relation] cause [Effect] the industry is shifting to more emission-reducing products",
    "gold": "[Cause] providing the best diesel engines on the market [Relation] enable [Effect] The company made its name over past century",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company made its name over past century by providing the best diesel engines on the market, but it's evident today that the industry is shifting to more emission-reducing products due to increasing emissions regulation globally.",
    "output": "[Cause] increasing emissions regulation globally [Relation] cause [Effect] the industry is shifting to more emission-reducing products",
    "gold": "[Cause] increasing emissions regulation globally [Relation] cause [Effect] the industry is shifting to more emission-reducing products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And there is evidence that the global financial crisis of 2008-09 made Booking's platform even more valuable 2 Jun 2021 05:00, UTCto suppliers, as hoteliers needed its distribution power to fill rooms.",
    "output": "[Cause] hoteliers needed its distribution power to fill rooms [Relation] cause [Effect] the global financial crisis of 2008-09 made Booking's platform even more valuable 2 Jun 2021 05:00, UTCto suppliers",
    "gold": "[Cause] hoteliers needed its distribution power to fill rooms [Relation] cause [Effect] the global financial crisis of 2008-09 made Booking's platform even more valuable 2 Jun 2021 05:00, UTCto suppliers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Efficient scale followed industry consolidation escalated by the 1980 Staggers Act, which permitted extensive rail line sales, abandonment, and combination while allowing for private contracts and rate 7 Jul 2021 05:00, UTCsetting based on market demand.",
    "output": "[Cause] 1980 Staggers Act [Relation] cause [Effect] Efficient scale followed industry consolidation escalated",
    "gold": "[Cause] 1980 Staggers Act [Relation] enable [Effect] Efficient scale followed industry consolidation escalated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Efficient scale followed industry consolidation escalated by the 1980 Staggers Act, which permitted extensive rail line sales, abandonment, and combination while allowing for private contracts and rate 7 Jul 2021 05:00, UTCsetting based on market demand.",
    "output": "[Cause] 1980 Staggers Act [Relation] enable [Effect] industry consolidation escalated",
    "gold": "[Cause] 1980 Staggers Act [Relation] enable [Effect] permitted extensive rail line sales, abandonment, and combination while allowing for private contracts and rate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "SBA focuses exclusively on towers and has some geographic diversification, but we think its strategy to use financial leverage so aggressively provides unnecessary risk and ultimately keeps it from deepening it presence in several of its developing markets.",
    "output": "[Cause] its strategy to use financial leverage so aggressively [Relation] prevent [Effect] unnecessary risk",
    "gold": "[Cause] its strategy to use financial leverage so aggressively [Relation] cause [Effect] unnecessary risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ESG-related risks include implementation of a carbon tax or other climate change policies that could raise costs or reduce demand.",
    "output": "[Cause] implementation of a carbon tax or other climate change policies [Relation] cause [Effect] raise costs or reduce demand",
    "gold": "[Cause] implementation of a carbon tax or other climate change policies that could raise costs or reduce demand [Relation] cause [Effect] ESG-related risks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our opinion, Aptiv's ability to regularly innovate and commercialize new technologies bolsters sales growth, margin, and return on investment.",
    "output": "[Cause] Aptiv's ability to regularly innovate and commercialize new technologies [Relation] enable [Effect] bolsters sales growth, margin, and return on investment",
    "gold": "[Cause] Aptiv's ability to regularly innovate and commercialize new technologies [Relation] enable [Effect]  bolsters sales growth, margin, and return on investment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect many smaller restaurant operators to permanently close due to coronavirus-related traffic declines and incremental cost burdens but see future market share opportunities for surviving operators with strong brand intangible assets and scale advantages.",
    "output": "[Cause] coronavirus-related traffic declines and incremental cost burdens [Relation] cause [Effect] many smaller restaurant operators to permanently close",
    "gold": "[Cause]  coronavirus-related traffic declines and incremental cost burdens [Relation] cause [Effect] many smaller restaurant operators to permanently close",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect many smaller restaurant operators to permanently close due to coronavirus-related traffic declines and incremental cost burdens but see future market share opportunities for surviving operators with strong brand intangible assets and scale advantages.",
    "output": "[Cause] strong brand intangible assets and scale advantages [Relation] enable [Effect] future market share opportunities for surviving operators",
    "gold": "[Cause] strong brand intangible assets and scale advantages [Relation] cause [Effect] future market share opportunities for surviving operators",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The raise was primarily due to a slight increase in revenue in our forecast, albeit offset by slightly tempered margins in both operating segments.",
    "output": "[Cause] a slight increase in revenue in our forecast [Relation] cause [Effect] The raise",
    "gold": "[Cause] a slight increase in revenue in our forecast [Relation] cause [Effect] The raise",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A 30% average annual decline (90% from 2019 to 2020) in corporate revenue as a result of resegmentation accounts for the low overall growth metric.",
    "output": "[Cause] resegmentation accounts for the low overall growth metric [Relation] cause [Effect] A 30% average annual decline (90% from 2019 to 2020) in corporate revenue",
    "gold": "[Cause] resegmentation accounts for the low overall growth metric [Relation] cause [Effect] A 30% average annual decline (90% from 2019 to 2020) in corporate revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe it is this self-reinforcing combination of sources of its competitive edge that has created high barriers to entry, shielding vendors like Kellogg that are entrenched in retailers' supply chains.",
    "output": "[Cause] this self-reinforcing combination of sources of its competitive edge [Relation] cause [Effect] created high barriers to entry",
    "gold": "[Cause] it is this self-reinforcing combination of sources of its competitive edge [Relation] cause [Effect] shielding vendors like Kellogg",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company is highly exposed to the economic cycle, as it is affected by changes in credit quality, retail sales, and interest rates.",
    "output": "[Cause] it is affected by changes in credit quality, retail sales, and interest rates [Relation] cause [Effect] The company is highly exposed to the economic cycle",
    "gold": "[Cause] it is affected by changes in credit quality, retail sales, and interest rates [Relation] cause [Effect] The company is highly exposed to the economic cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To boost margins, Eastman has focused on the development of patent-protected formulations that have an average commercial life of around 10 years.",
    "output": "[Cause] boost margins [Relation] cause [Effect] Eastman has focused on the development of patent-protected formulations that have an average commercial life of around 10 years",
    "gold": "[Cause]  boost margins [Relation] cause [Effect] Eastman has focused on the development of patent-protected formulations that have an average commercial life of around 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do not incorporate the announced merger with UBI Banca into our model yet, as it is not unconditional, although it seems likely that the deal will go ahead.",
    "output": "[Cause] it is not unconditional [Relation] cause [Effect] We do not incorporate the announced merger with UBI Banca into our model yet",
    "gold": "[Cause] it is not unconditional [Relation] cause [Effect] We do not incorporate the announced merger with UBI Banca into our model yet",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Developers continue to struggle to bring new supply to the California market because of intense zoning restrictions.",
    "output": "[Cause] intense zoning restrictions [Relation] cause [Effect] Developers continue to struggle to bring new supply to the California market",
    "gold": "[Cause]  intense zoning restrictions [Relation] cause [Effect] Developers continue to struggle to bring new supply to the California market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, CIBC has the highest percentage of its loan book dedicated to retail loans, so any hit to the Canadian consumer, of which a large portion of their average debt is mortgages, could be painful for CIBC.",
    "output": "[Cause] CIBC has the highest percentage of its loan book dedicated to retail loans [Relation] cause [Effect] any hit to the Canadian consumer, of which a large portion of their average debt is mortgages, could be painful for CIBC",
    "gold": "[Cause] CIBC has the highest percentage of its loan book dedicated to retail loans [Relation] cause [Effect] any hit to the Canadian consumer, of which a large portion of their average debt is mortgages, could be painful for CIBC",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a midteens percentage of GDP and nearly 10% of jobs coming from natural resource-related sectors, any demand side shocks or drastic declines in commodity prices could have negative consequences.",
    "output": "[Cause] a midteens percentage of GDP and nearly 10% of jobs coming from natural resource-related sectors [Relation] cause [Effect] any demand side shocks or drastic declines in commodity prices could have negative consequences",
    "gold": "[Cause] a midteens percentage of GDP and nearly 10% of jobs coming from natural resource-related sectors [Relation] cause [Effect]  any demand side shocks or drastic declines in commodity prices could have negative consequences",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a midteens percentage of GDP and nearly 10% of jobs coming from natural resource-related sectors, any demand side shocks or drastic declines in commodity prices could have negative consequences.",
    "output": "[Cause] any demand side shocks or drastic declines in commodity prices [Relation] cause [Effect] negative consequences",
    "gold": "[Cause] any demand side shocks or drastic declines in commodity prices [Relation] cause [Effect] negative consequences",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We now expect Dexcom to reach operating margin of 26.5% by 2025 thanks to the rollout of G7, which should be considerably less expensive to manufacture.",
    "output": "[Cause] the rollout of G7 [Relation] enable [Effect] Dexcom to reach operating margin of 26.5% by 2025",
    "gold": "[Cause] We now expect Dexcom to reach operating margin of 26.5% by 2025 thanks to the rollout of G7 [Relation] enable [Effect]  which should be considerably less expensive to manufacture.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, good businesses do not come cheap, and the transaction included a significant amount of goodwill, which has damped returns on invested capital.",
    "output": "[Cause] the transaction included a significant amount of goodwill [Relation] cause [Effect] has damped returns on invested capital",
    "gold": "[Cause] good businesses do not come cheap, and the transaction included a significant amount of goodwill [Relation] prevent [Effect] returns on invested capital.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Another risk of switching to a new set of instruments is that a surgeon's lack of familiarity with the tools could lead to fewer procedures or even higher clinical risks for patients.",
    "output": "[Cause] a surgeon's lack of familiarity with the tools [Relation] cause [Effect] fewer procedures or even higher clinical risks for patients",
    "gold": "[Cause]  a surgeon's lack of familiarity with the tools [Relation] cause [Effect]  fewer procedures or even higher clinical risks for patients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Clients of WPP and its peers are allocating more ad dollars toward below-the-line digital campaigns, creating growth opportunities for WPP and other players in the space.",
    "output": "[Cause] Clients of WPP and its peers are allocating more ad dollars toward below-the-line digital campaigns [Relation] enable [Effect] creating growth opportunities for WPP and other players in the space",
    "gold": "[Cause] Clients of WPP and its peers are allocating more ad dollars toward below-the-line digital campaigns [Relation] enable [Effect] creating growth opportunities for WPP and other players in the space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company benefits from switching costs in refining catalysts, which are tailored to specific refineries to maximize customer profits.",
    "output": "[Cause] switching costs in refining catalysts [Relation] enable [Effect] maximize customer profits",
    "gold": "[Cause] switching costs in refining catalysts [Relation] enable [Effect] maximize customer profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a new low-risk indication added in 2019, we anticipate the firm will further expand TAVR indications to fuel growth.",
    "output": "[Cause] a new low-risk indication added in 2019 [Relation] cause [Effect] the firm will further expand TAVR indications to fuel growth",
    "gold": "[Cause] a new low-risk indication added in 2019 [Relation] cause [Effect] the firm will further expand TAVR indications to fuel growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although these fixed-price contracts carry more financial risk, as the burden of cost overruns shifts toward the contractors, because many of these contracts are for mature programs, they tend to be more profitable because manufacturing costs are better understood as a program ages.",
    "output": "[Cause] the burden of cost overruns shifts toward the contractors [Relation] cause [Effect] these fixed-price contracts carry more financial risk",
    "gold": "[Cause]  the burden of cost overruns shifts toward the contractors [Relation] enable [Effect] they tend to be more profitable",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although these fixed-price contracts carry more financial risk, as the burden of cost overruns shifts toward the contractors, because many of these contracts are for mature programs, they tend to be more profitable because manufacturing costs are better understood as a program ages.",
    "output": "[Cause] manufacturing costs are better understood as a program ages [Relation] cause [Effect] they tend to be more profitable",
    "gold": "[Cause]  a program ages [Relation] enable [Effect] manufacturing costs are better understood",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "And despite the likelihood of reduced demand and supply (as consumers remain more cautious about group gatherings and cruise operators divest hardware), at least for some time, we don't expect pricing gains to come as easily as in the past.",
    "output": "[Cause] consumers remain more cautious about group gatherings and cruise operators divest hardware [Relation] cause [Effect] reduced demand and supply",
    "gold": "[Cause] consumers remain more cautious about group gatherings and cruise operators divest hardware [Relation] cause [Effect] reduced demand and supply",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The shift toward e-commerce erodes the benefit distributors have previously enjoyed of being an aggregator of demand on a regional level and has contributed to the competitive market dynamics while also making price comparisons for the consumer easier.",
    "output": "[Cause] The shift toward e-commerce [Relation] cause [Effect] erodes the benefit distributors have previously enjoyed of being an aggregator of demand on a regional level",
    "gold": "[Cause] The shift toward e-commerce erodes the benefit distributors [Relation] cause [Effect] has contributed to the competitive market dynamics while also making price comparisons for the consumer easier",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The shift toward e-commerce erodes the benefit distributors have previously enjoyed of being an aggregator of demand on a regional level and has contributed to the competitive market dynamics while also making price comparisons for the consumer easier.",
    "output": "[Cause] The shift toward e-commerce [Relation] cause [Effect] price comparisons for the consumer easier",
    "gold": "[Cause] The shift toward e-commerce erodes the benefit distributors [Relation] cause [Effect] have previously enjoyed of being an aggregator of demand on a regional level",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This is not surprising, as the company pioneered the category in North America, and up until 2012 every single-serve coffee maker had to use Keurig K-cups. This led to supply chain entrenchment and favorable retail positioning that continues today, with K-cups being the most widely available variant of the single-serve format.",
    "output": "[Cause] This is not surprising, as the company pioneered the category in North America, and up until 2012 every single-serve coffee maker had to use Keurig K-cups [Relation] cause [Effect] supply chain entrenchment and favorable retail positioning that continues today, with K-cups being the most widely available variant of the single-serve format",
    "gold": "[Cause] This is not surprising, as the company pioneered the category in North America, and up until 2012 every single-serve coffee maker had to use Keurig K-cups [Relation] cause [Effect] supply chain entrenchment and favorable retail positioning that continues today, with K-cups being the most widely available variant of the single-serve format",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given Mettler's relative resiliency through the COVID-19 pandemic, we think the firm could even take some additional share in the near term, and we expect Mettler to comfortably maintain its dominant position in balances.",
    "output": "[Cause] Mettler's relative resiliency through the COVID-19 pandemic [Relation] cause [Effect] the firm could even take some additional share in the near term",
    "gold": "[Cause]  Mettler's relative resiliency through the COVID-19 pandemic [Relation] cause [Effect]  the firm could even take some additional share in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given Mettler's relative resiliency through the COVID-19 pandemic, we think the firm could even take some additional share in the near term, and we expect Mettler to comfortably maintain its dominant position in balances.",
    "output": "[Cause] the firm could even take some additional share in the near term [Relation] enable [Effect] Mettler to comfortably maintain its dominant position in balances",
    "gold": "[Cause]  the firm could even take some additional share in the near term [Relation] cause [Effect] Mettler to comfortably maintain its dominant position in balances",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Excess watch inventories rising as a result of store closures during the pandemic may be sold in secondary channels and heavily discounted, which would erode brand strength.",
    "output": "[Cause] store closures during the pandemic may be sold in secondary channels and heavily discounted [Relation] cause [Effect] Excess watch inventories rising",
    "gold": "[Cause] Excess watch inventories rising as a result of store closures during the pandemic [Relation] cause [Effect] may be sold in secondary channels and heavily discounted, which would erode brand strength.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Through the end of 2019, Paychex served 670,000 clients. This captive list of clients has enabled the company to expand its product offering from employee payroll to record-keeping for retirement plans, health benefits, and workers' compensation.",
    "output": "[Cause] Paychex served 670,000 clients [Relation] enable [Effect] the company to expand its product offering from employee payroll to record-keeping for retirement plans, health benefits, and workers' compensation",
    "gold": "[Cause] Paychex served 670,000 clients [Relation] enable [Effect] the company to expand its product offering from employee payroll to record-keeping for retirement plans, health benefits, and workers' compensation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In exchange for PGE's service territory monopoly, state and federal regulators set returns at levels that aim to minimize customer costs while offering fair returns for capital providers.",
    "output": "[Cause] state and federal regulators set returns at levels [Relation] enable [Effect] minimize customer costs while offering fair returns for capital providers",
    "gold": "[Cause] PGE's service territory monopoly [Relation] cause [Effect] state and federal regulators set returns at levels that aim to minimize customer costs while offering fair returns for capital providers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, we think Wirtgen's strong position in the road construction business globally gives Deere access to new customers in emerging markets.",
    "output": "[Cause] Wirtgen's strong position in the road construction business globally [Relation] enable [Effect] Deere access to new customers in emerging markets",
    "gold": "[Cause] Wirtgen's strong position in the road construction business globally [Relation] enable [Effect]  Deere access to new customers in emerging markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The addition of each new ad and advertiser improves the efficiency of Google's programmatic advertising offerings, allowing the firm to better monetize the network.",
    "output": "[Cause] The addition of each new ad and advertiser improves the efficiency of Google's programmatic advertising offerings [Relation] enable [Effect] the firm to better monetize the network",
    "gold": "[Cause] The addition of each new ad and advertiser improves the efficiency of Google's programmatic advertising offerings [Relation] enable [Effect] the firm to better monetize the network",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm has also grappled with weakness in coal, frac sand, and crude-by-rail shipments due to energy end market headwinds.",
    "output": "[Cause] energy end market headwinds [Relation] cause [Effect] The firm has also grappled with weakness in coal, frac sand, and crude-by-rail shipments",
    "gold": "[Cause] energy end market headwinds [Relation] cause [Effect] The firm has also grappled with weakness in coal, frac sand, and crude-by-rail shipments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We don't see particularly strong switching costs with large corporates, however, as such clients often bank with multiple institutions and are keen to shop around for better rates or commissions.",
    "output": "[Cause] such clients often bank with multiple institutions and are keen to shop around for better rates or commissions [Relation] cause [Effect] We don't see particularly strong switching costs with large corporates",
    "gold": "[Cause]  shop around [Relation] enable [Effect] better rates or commissions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, Exxon has booked 2.2 billion barrels of liquids reserves in the United States since 2015 as it has drilled wells.",
    "output": "[Cause] it has drilled wells [Relation] cause [Effect] Exxon has booked 2.2 billion barrels of liquids reserves in the United States since 2015",
    "gold": "[Cause] it has drilled wells [Relation] cause [Effect] Exxon has booked 2.2 billion barrels of liquids reserves in the United States since 2015",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we think Imperial's strong presence in value categories could lead to increased market share in the event of trading down, we would be concerned about the global industry profit pool if plain packaging is introduced in other major markets.",
    "output": "[Cause] Imperial's strong presence in value categories [Relation] cause [Effect] increased market share in the event of trading down",
    "gold": "[Cause] Imperial's strong presence in value categories [Relation] cause [Effect] increased market share in the event of trading down",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we think Imperial's strong presence in value categories could lead to increased market share in the event of trading down, we would be concerned about the global industry profit pool if plain packaging is introduced in other major markets.",
    "output": "[Cause] plain packaging is introduced in other major markets [Relation] cause [Effect] we would be concerned about the global industry profit pool",
    "gold": "[Cause] plain packaging is introduced in other major markets [Relation] cause [Effect] we would be concerned about the global industry profit pool",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Much like its closest competitor, Progressive (which generated 12.2% of written premiums during 2019), Geico has set itself apart from the rest of the industry by its scale in the direct response channel.",
    "output": "[Cause] its scale in the direct response channel [Relation] enable [Effect] Geico has set itself apart from the rest of the industry",
    "gold": "[Cause] its scale in the direct response channel [Relation] enable [Effect] Geico has set itself apart from the rest of the industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Years of low spot prices have prevented investment in new mines, while existing mines have entered care and maintenance or near the end of their lives.",
    "output": "[Cause] Years of low spot prices [Relation] prevent [Effect] investment in new mines",
    "gold": "[Cause] Years of low spot prices [Relation] prevent [Effect] investment in new mines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assign Workday a high uncertainty rating, which is mostly derived from the possibility of facing tougher competition--in either incumbents SAP or Oracle catching up to Workday--or in new entrants.",
    "output": "[Cause] the possibility of facing tougher competition--in either incumbents SAP or Oracle catching up to Workday--or in new entrants [Relation] cause [Effect] Workday a high uncertainty rating",
    "gold": "[Cause] the possibility of facing tougher competition--in either incumbents SAP or Oracle catching up to Workday--or in new entrants [Relation] cause [Effect] Workday a high uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our uncertainty rating for British American Tobacco is medium, and we view tobacco as being inherently riskier than most other staples categories.",
    "output": "[Cause] tobacco as being inherently riskier than most other staples categories [Relation] cause [Effect] Our uncertainty rating for British American Tobacco is medium",
    "gold": "[Cause] tobacco as being inherently riskier than most other staples categories [Relation] cause [Effect] Our uncertainty rating for British American Tobacco is medium",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the company's significant presence in the region and its ability to supply the region by ship from its Playa del Carmen operations, we think the company is well positioned to capture the region's growth.",
    "output": "[Cause] the company's significant presence in the region and its ability to supply the region by ship from its Playa del Carmen operations [Relation] cause [Effect] the company is well positioned to capture the region's growth",
    "gold": "[Cause] the company's significant presence in the region and its ability to supply the region by ship from its Playa del Carmen operations [Relation] enable [Effect] the company is well positioned to capture the region's growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume that Simon closes on the $3.0 billion acquisition of Taubman Centers in the first quarter of 2021 and that Simon won't have any other significant acquisition opportunities as most Class A malls are already owned by long-term investors.",
    "output": "[Cause] most Class A malls are already owned by long-term investors [Relation] cause [Effect] Simon won't have any other significant acquisition opportunities",
    "gold": "[Cause] most Class A malls are already owned by long-term investors [Relation] cause [Effect] Simon won't have any other significant acquisition opportunities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we expect global demand to recover to near 2014 peak levels, belated capacity additions (of perhaps over 15% of global supply), which were completed after the downturn began, mean global OCTG utilization--and hence overall pricing--is unlikely to return to prior levels.",
    "output": "[Cause] belated capacity additions (of perhaps over 15% of global supply), which were completed after the downturn began [Relation] cause [Effect] global OCTG utilization--and hence overall pricing--is unlikely to return to prior levels",
    "gold": "[Cause] belated capacity additions (of perhaps over 15% of global supply), which were completed after the downturn began [Relation] enable [Effect]  global OCTG utilization--and hence overall pricing--is unlikely to return to prior levels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Danaher's current business mix generates relatively stable results, COVID-related uncertainty and the firm's acquisition-focused strategy creates medium uncertainty around future cash flows.",
    "output": "[Cause] COVID-related uncertainty and the firm's acquisition-focused strategy [Relation] cause [Effect] medium uncertainty around future cash flows",
    "gold": "[Cause]  COVID-related uncertainty and the firm's acquisition-focused strategy [Relation] cause [Effect] medium uncertainty around future cash flows",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Designers would be hesitant to lose the time spent learning these products and sacrifice familiarity and productivity, thus giving rise to switching costs.",
    "output": "[Cause] lose the time spent learning these products and sacrifice familiarity and productivity [Relation] cause [Effect] switching costs",
    "gold": "[Cause] lose the time spent learning these products and sacrifice familiarity and productivity [Relation] enable [Effect] switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The expansion of the audience provides the company with growth, but we view this as watering down the value of the proprietary offering.",
    "output": "[Cause] The expansion of the audience [Relation] enable [Effect] the company with growth",
    "gold": "[Cause] The expansion of the audience [Relation] enable [Effect]  the company with growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the pandemic did not lead to unmanageable medical costs for insurers in 2020, we think the underutilization of the healthcare system created some pricing risks for insurers in 2021.",
    "output": "[Cause] the underutilization of the healthcare system [Relation] cause [Effect] created some pricing risks for insurers in 2021",
    "gold": "[Cause]  the underutilization of the healthcare system [Relation] cause [Effect]  created some pricing risks for insurers in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With roots as a supplier of infusion consumables, ICU enhanced its product mix through the transformative acquisition of Hospira Infusion Systems from Pfizer in 2017 by bringing infusion pumps, a broader consumables offerings, and IV solution manufacturing into the fold.",
    "output": "[Cause] roots as a supplier of infusion consumables [Relation] enable [Effect] ICU enhanced its product mix through the transformative acquisition of Hospira Infusion Systems from Pfizer in 2017",
    "gold": "[Cause] the transformative acquisition of Hospira Infusion Systems from Pfizer in 2017 by bringing infusion pumps, a broader consumables offerings [Relation] enable [Effect] ICU enhanced its product mix",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, the high supply growth present in many of the company's markets and the ever-present competition from alternative housing options keeps rent growth in the low- to mid-single-digits.",
    "output": "[Cause] the high supply growth present in many of the company's markets and the ever-present competition from alternative housing options [Relation] enable [Effect] rent growth in the low- to mid-single-digits",
    "gold": "[Cause]  the high supply growth present in many of the company's markets and the ever-present competition from alternative housing options [Relation] enable [Effect] rent growth in the low- to mid-single-digits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The reversal of the Seaway pipeline to flow oil to the Enterprise Hydrocarbons Terminal was a smart move, and the planned construction of a new pipeline transporting crude to Sealy (on the Coast) from Midland will strengthen the overall network.",
    "output": "[Cause] The reversal of the Seaway pipeline to flow oil to the Enterprise Hydrocarbons Terminal [Relation] enable [Effect] strengthen the overall network",
    "gold": "[Cause]  the planned construction of a new pipeline transporting crude to Sealy (on the Coast) from Midland [Relation] enable [Effect] strengthen the overall network",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, investors looking to hold a position in the combined entity should instead consider our valuation of S&P ($320 per share at the time of publication), which would give IHS Markit shareholders roughly $91 per share in value.",
    "output": "[Cause] consider our valuation of S&P ($320 per share at the time of publication) [Relation] enable [Effect] IHS Markit shareholders roughly $91 per share in value",
    "gold": "[Cause] consider our valuation of S&P ($320 per share at the time of publication) [Relation] enable [Effect]  IHS Markit shareholders roughly $91 per share in value",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lastly, and importantly, a modern system that can effectively manage inventory and facilities can also help improve working capital efficiency and margins.",
    "output": "[Cause] a modern system that can effectively manage inventory and facilities [Relation] enable [Effect] improve working capital efficiency and margins",
    "gold": "[Cause]  a modern system that can effectively manage inventory and facilities [Relation] enable [Effect]  improve working capital efficiency and margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, legislative changes in tax laws and labor laws can be murky and difficult for smaller companies to understand, and Paylocity works toward ensuring its platform is up to date with regulations to ensure clients remain in compliance with the law.",
    "output": "[Cause] legislative changes in tax laws and labor laws can be murky and difficult for smaller companies to understand [Relation] cause [Effect] Paylocity works toward ensuring its platform is up to date with regulations",
    "gold": "[Cause] legislative changes in tax laws and labor laws can be murky and difficult [Relation] prevent [Effect]  smaller companies to understand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, legislative changes in tax laws and labor laws can be murky and difficult for smaller companies to understand, and Paylocity works toward ensuring its platform is up to date with regulations to ensure clients remain in compliance with the law.",
    "output": "[Cause] Paylocity works toward ensuring its platform is up to date with regulations [Relation] enable [Effect] ensure clients remain in compliance with the law",
    "gold": "[Cause] ensure clients remain in compliance with the law [Relation] cause [Effect] Paylocity works toward ensuring its platform is up to date with regulations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Volumes are set to grow at a 2% compound growth rate through 2026 thanks to the addition of over 700 mboe/d of new volumes.",
    "output": "[Cause] the addition of over 700 mboe/d of new volumes [Relation] cause [Effect] Volumes are set to grow at a 2% compound growth rate through 2026",
    "gold": "[Cause]  the addition of over 700 mboe/d of new volumes [Relation] cause [Effect] Volumes are set to grow at a 2% compound growth rate through 2026",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Land drillers' operating costs are about two thirds labor, and no land driller, H&amp;P included, appears to have a systematic advantage in saving on labor costs per day.",
    "output": "[Cause] Land drillers' operating costs are about two thirds labor [Relation] cause [Effect] no land driller, H&amp;P included, appears to have a systematic advantage in saving on labor costs per day",
    "gold": "[Cause] no land driller, H&amp;P included, appears to have a systematic advantage [Relation] cause [Effect]  saving on labor costs per day",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After cutting out over 40% of FirstMerit's original cost base, Huntington has gone about selling its more expansive product set in new and underpenetrated markets.",
    "output": "[Cause] cutting out over 40% of FirstMerit's original cost base [Relation] cause [Effect] Huntington has gone about selling its more expansive product set in new and underpenetrated markets",
    "gold": "[Cause] cutting out over 40% of FirstMerit's original cost base [Relation] cause [Effect] Huntington has gone about selling its more expansive product set in new and underpenetrated markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Considering regulatory risk, and Itau's recent decision to lower interest rates on card processing, we've lowered our five-year forecast to an annual growth rate of 5.5% in card interchange fees and issuance and 2.5% in payment processing.",
    "output": "[Cause] regulatory risk, and Itau's recent decision to lower interest rates on card processing [Relation] cause [Effect] we've lowered our five-year forecast to an annual growth rate of 5.5% in card interchange fees and issuance and 2.5% in payment processing",
    "gold": "[Cause]  regulatory risk, and Itau's recent decision to lower interest rates on card processing [Relation] cause [Effect] we've lowered our five-year forecast to an annual growth rate of 5.5% in card interchange fees and issuance and 2.5% in payment processing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the partnership is prudent given Sprouts' size, it imposes costs that larger firms can mitigate by fulfilling digital orders internally.",
    "output": "[Cause] Sprouts' size [Relation] cause [Effect] the partnership is prudent",
    "gold": "[Cause] Sprouts' size [Relation] cause [Effect] the partnership is prudent",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the partnership is prudent given Sprouts' size, it imposes costs that larger firms can mitigate by fulfilling digital orders internally.",
    "output": "[Cause] fulfilling digital orders internally [Relation] enable [Effect] it imposes costs that larger firms can mitigate",
    "gold": "[Cause] fulfilling digital orders internally [Relation] enable [Effect] it imposes costs that larger firms can mitigate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Regency may face increasing challenges to source attractive risk-adjusted investments, potentially encouraging the company to take undue risks to achieve growth.",
    "output": "[Cause] Regency may face increasing challenges to source attractive risk-adjusted investments [Relation] enable [Effect] encouraging the company to take undue risks to achieve growth",
    "gold": "[Cause] Regency may face increasing challenges to source attractive risk-adjusted investments [Relation] cause [Effect] encouraging the company to take undue risks to achieve growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project that Grand Theft Auto VI will be released in fiscal 2023. As a result, we now project that fiscal 2023 revenue for Take-Two will spike up by 50% to $5.9 billion with fiscal 2024 revenue falling from those heights by 14%.",
    "output": "[Cause] Grand Theft Auto VI will be released in fiscal 2023 [Relation] cause [Effect] fiscal 2023 revenue for Take-Two will spike up by 50% to $5.9 billion with fiscal 2024 revenue falling from those heights by 14%",
    "gold": "[Cause]  Grand Theft Auto VI will be released in fiscal 2023 [Relation] cause [Effect] fiscal 2023 revenue for Take-Two will spike up by 50% to $5.9 billion with fiscal 2024 revenue falling from those heights by 14%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Margins were hit in 2020 as Pepsi booked charges for merger integration and system implementation associated with its productivity initiatives, in addition to incremental strategic investments.",
    "output": "[Cause] Pepsi booked charges for merger integration and system implementation associated with its productivity initiatives, in addition to incremental strategic investments [Relation] cause [Effect] Margins were hit in 2020",
    "gold": "[Cause] Pepsi booked charges for merger integration and system implementation associated with its productivity initiatives, in addition to incremental strategic investments [Relation] cause [Effect] Margins were hit in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Cognizant will keep a close eye on selling, general, and administrative costs, so that revenue grows at a faster pace than operating expenses.",
    "output": "[Cause] Cognizant will keep a close eye on selling, general, and administrative costs [Relation] enable [Effect] revenue grows at a faster pace than operating expenses",
    "gold": "[Cause] Cognizant will keep a close eye on selling, general, and administrative costs [Relation] cause [Effect] revenue grows at a faster pace than operating expenses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The merger with Total System Services will diversify the business a bit, but it will remain centered on consumer payments.",
    "output": "[Cause] The merger with Total System Services [Relation] enable [Effect] diversify the business a bit",
    "gold": "[Cause] The merger with Total System Services [Relation] enable [Effect] diversify the business a bit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To be sure, the company's portfolio is very large and being continually restocked with new patents, meaning that the loss of protection on any one technology would not be significant.",
    "output": "[Cause] the company's portfolio is very large and being continually restocked with new patents [Relation] cause [Effect] the loss of protection on any one technology would not be significant",
    "gold": "[Cause] the company's portfolio is very large and being continually restocked with new patents [Relation] cause [Effect] the loss of protection on any one technology would not be significant",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The flip side of this model is that the bank has one of the highest proportions of adjustable-rate-based commercial loans, meaning its loan book reprices very quickly, with almost 90% of the book being adjustable rate.",
    "output": "[Cause] the bank has one of the highest proportions of adjustable-rate-based commercial loans [Relation] cause [Effect] its loan book reprices very quickly, with almost 90% of the book being adjustable rate",
    "gold": "[Cause]  the bank has one of the highest proportions of adjustable-rate-based commercial loans [Relation] enable [Effect]  its loan book reprices very quickly, with almost 90% of the book being adjustable rate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Dilution from the equity and preferred stock issuances in 2020-21 will keep earnings and the dividend growing more slowly than Edison's asset base.",
    "output": "[Cause] Dilution from the equity and preferred stock issuances in 2020-21 [Relation] enable [Effect] earnings and the dividend growing more slowly than Edison's asset base",
    "gold": "[Cause] Dilution from the equity and preferred stock issuances in 2020-21 [Relation] enable [Effect] earnings and the dividend growing more slowly than Edison's asset base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its share of the broadband business has slipped under 18% from 28% five years ago as it has lost customers in areas where its network is older and less capable and upstarts have invested aggressively to build fiber.",
    "output": "[Cause] it has lost customers in areas where its network is older and less capable and upstarts have invested aggressively to build fiber [Relation] cause [Effect] Its share of the broadband business has slipped under 18% from 28% five years ago",
    "gold": "[Cause] it has lost customers in areas where its network is older and less capable and upstarts have invested aggressively to build fiber [Relation] cause [Effect] Its share of the broadband business has slipped under 18% from 28% five years ago",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the company cannot generate meaningful cash in its restructuring efforts due to poor execution or from effects of the coronavirus damaging the economy, then it could file for bankruptcy but this seems unlikely to us.",
    "output": "[Cause] poor execution or from effects of the coronavirus damaging the economy [Relation] cause [Effect] the company cannot generate meaningful cash in its restructuring efforts",
    "gold": "[Cause] poor execution or from effects of the coronavirus damaging the economy [Relation] cause [Effect] the company cannot generate meaningful cash in its restructuring efforts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the company cannot generate meaningful cash in its restructuring efforts due to poor execution or from effects of the coronavirus damaging the economy, then it could file for bankruptcy but this seems unlikely to us.",
    "output": "[Cause] the company cannot generate meaningful cash in its restructuring efforts [Relation] cause [Effect] it could file for bankruptcy",
    "gold": "[Cause] the company cannot generate meaningful cash in its restructuring efforts [Relation] cause [Effect]  it could file for bankruptcy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect these initiatives to offset the negative customer mix from the significant amount of lower-margin chain restaurant business picked up during the pandemic, holding operating margins around 4.5%.",
    "output": "[Cause] the negative customer mix from the significant amount of lower-margin chain restaurant business picked up during the pandemic [Relation] cause [Effect] holding operating margins around 4.5%",
    "gold": "[Cause] these initiatives [Relation] prevent [Effect] the negative customer mix from the significant amount of lower-margin chain restaurant business picked up during the pandemic",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect these initiatives to offset the negative customer mix from the significant amount of lower-margin chain restaurant business picked up during the pandemic, holding operating margins around 4.5%.",
    "output": "[Cause] these initiatives [Relation] prevent [Effect] negative customer mix from the significant amount of lower-margin chain restaurant business picked up during the pandemic",
    "gold": "[Cause] these initiatives [Relation] cause [Effect] holding operating margins around 4.5%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Despite considerable intangible assets around HDD design expertise and a cost advantage in HDD manufacturing, such advantages are unlikely to allow the firm to generate excess returns on capital over the next decade due to the technological shift away from hard disk to solid state drives.",
    "output": "[Cause] the technological shift away from hard disk to solid state drives [Relation] cause [Effect] such advantages are unlikely to allow the firm to generate excess returns on capital over the next decade",
    "gold": "[Cause] considerable intangible assets around HDD design expertise and a cost advantage in HDD manufacturing [Relation] cause [Effect] the technological shift away from hard disk to solid state drives",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Despite considerable intangible assets around HDD design expertise and a cost advantage in HDD manufacturing, such advantages are unlikely to allow the firm to generate excess returns on capital over the next decade due to the technological shift away from hard disk to solid state drives.",
    "output": "[Cause] the technological shift away from hard disk to solid state drives [Relation] cause [Effect] such advantages are unlikely to allow the firm to generate excess returns on capital over the next decade",
    "gold": "[Cause] such advantages are unlikely to allow the firm to generate excess returns on capital over the next decade [Relation] prevent [Effect] the technological shift away from hard disk to solid state drives",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Total is targeting annual operating cost reductions of $2 billion by 2023, leading to an increase in debt-adjusted cash flow of $5 billion, assuming $50/bbl oil prices by 2025, while achieving a return on equity of at least 10%.",
    "output": "[Cause] Total is targeting annual operating cost reductions of $2 billion by 2023 [Relation] cause [Effect] an increase in debt-adjusted cash flow of $5 billion, assuming $50/bbl oil prices by 2025, while achieving a return on equity of at least 10%",
    "gold": "[Cause] Total is targeting annual operating cost reductions of $2 billion by 2023 [Relation] cause [Effect] an increase in debt-adjusted cash flow of $5 billion, assuming $50/bbl oil prices by 2025, while achieving a return on equity of at least 10%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume stronger growth from the European region in the wake of Stryker's reorganization there, though there may be delays here as COVID-19 vaccination has been slower in that region compared with North America.",
    "output": "[Cause] Stryker's reorganization there [Relation] cause [Effect] stronger growth from the European region",
    "gold": "[Cause] COVID-19 vaccination has been slower in that region compared with North America [Relation] cause [Effect] there may be delays here",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We assume stronger growth from the European region in the wake of Stryker's reorganization there, though there may be delays here as COVID-19 vaccination has been slower in that region compared with North America.",
    "output": "[Cause] COVID-19 vaccination has been slower in that region compared with North America [Relation] cause [Effect] there may be delays here",
    "gold": "[Cause] Stryker's reorganization there [Relation] cause [Effect] stronger growth from the European region",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast capital expenditures as a percentage of sales drop to 3.4% annually over the next decade as store openings slow and less in-store investment is needed.",
    "output": "[Cause] store openings slow and less in-store investment is needed [Relation] cause [Effect] capital expenditures as a percentage of sales drop to 3.4% annually over the next decade",
    "gold": "[Cause] store openings slow and less in-store investment is needed [Relation] cause [Effect] capital expenditures as a percentage of sales drop to 3.4% annually over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The price wars that hit the market following regulatory reform and AT&amp;T's entrance have hurt third-place carrier Telefonica particularly hard, prompting the firm to effectively exit the market in 2019 as a facilities-based operator.",
    "output": "[Cause] The price wars that hit the market following regulatory reform and AT&amp;T's entrance have hurt third-place carrier Telefonica particularly hard [Relation] cause [Effect] the firm to effectively exit the market in 2019 as a facilities-based operator",
    "gold": "[Cause] The price wars that hit the market following regulatory reform and AT&amp;T's entrance have hurt third-place carrier Telefonica particularly hard [Relation] cause [Effect] the firm to effectively exit the market in 2019 as a facilities-based operator",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In general, the company is able to get paid well before the customer takes final delivery of the rig, which diminishes counterparty risk.",
    "output": "[Cause] the company is able to get paid well before the customer takes final delivery of the rig [Relation] cause [Effect] diminishes counterparty risk",
    "gold": "[Cause] the company is able to get paid well before the customer takes final delivery of the rig [Relation] enable [Effect] diminishes counterparty risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate an additional 8 percentage points of market share to be picked up by Hardie over this period, leading to market share for Hardie peaking at circa 28%.",
    "output": "[Cause] an additional 8 percentage points of market share to be picked up by Hardie over this period [Relation] cause [Effect] market share for Hardie peaking at circa 28%",
    "gold": "[Cause] an additional 8 percentage points of market share to be picked up by Hardie over this period [Relation] cause [Effect] market share for Hardie peaking at circa 28%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Like all regulated utilities, PPL faces the risk of an inflationary environment that would raise borrowing costs and make other investments more attractive for income-seeking investors.",
    "output": "[Cause] PPL faces the risk of an inflationary environment [Relation] cause [Effect] raise borrowing costs and make other investments more attractive for income-seeking investors",
    "gold": "[Cause]  PPL faces the risk of an inflationary environment [Relation] cause [Effect]  raise borrowing costs and make other investments more attractive for income-seeking investors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Millennials have been driving many of these trends, and as the generation acquires enough capital to own single-family homes or if tastes change significantly, these trends could reverse and hurt demand for apartments.",
    "output": "[Cause] the generation acquires enough capital to own single-family homes or if tastes change significantly [Relation] cause [Effect] these trends could reverse and hurt demand for apartments",
    "gold": "[Cause] the generation acquires enough capital to own single-family homes or if tastes change significantly [Relation] cause [Effect] these trends could reverse and hurt demand for apartments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a holiday season marked by rising COVID-19 case counts that threaten store traffic (and, in some markets, renewed closures), we expect a low-double digit comparable sales decline in the fourth quarter.",
    "output": "[Cause] rising COVID-19 case counts [Relation] cause [Effect] threaten store traffic",
    "gold": "[Cause] rising COVID-19 case counts [Relation] enable [Effect] threaten store traffic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Xcel has significantly improved the regulatory structures and asset mix in its primary jurisdictions since 2014 such that we now have good confidence that it can consistently earn above its cost of capital.",
    "output": "[Cause] Xcel has significantly improved the regulatory structures and asset mix in its primary jurisdictions since 2014 [Relation] enable [Effect] we now have good confidence that it can consistently earn above its cost of capital",
    "gold": "[Cause] Xcel has significantly improved the regulatory structures and asset mix in its primary jurisdictions since 2014 [Relation] cause [Effect] we now have good confidence that it can consistently earn above its cost of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe PRA is moderately susceptible to this, with its largest single study in 2017 accounting for 4% of service revenue, but the risk is diminishing as the company scales, in our opinion.",
    "output": "[Cause] the company scales [Relation] cause [Effect] the risk is diminishing",
    "gold": "[Cause] the company scales [Relation] cause [Effect] the risk is diminishing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe PRA is moderately susceptible to this, with its largest single study in 2017 accounting for 4% of service revenue, but the risk is diminishing as the company scales, in our opinion.",
    "output": "[Cause] the company scales [Relation] cause [Effect] the risk is diminishing",
    "gold": "[Cause] its largest single study in 2017 accounting for 4% of service revenue [Relation] enable [Effect] PRA is moderately susceptible to this",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "TJX's assortment is rapidly changing, with brands and items rotating based on availability. This encourages bargain-seeking customers to visit the stores frequently, spurring traffic and repeat store visits that are further spurred by the firm's loyalty program.",
    "output": "[Cause] TJX's assortment is rapidly changing, with brands and items rotating based on availability [Relation] cause [Effect] encourages bargain-seeking customers to visit the stores frequently, spurring traffic and repeat store visits that are further spurred by the firm's loyalty program",
    "gold": "[Cause] TJX's assortment is rapidly changing, with brands and items rotating based on availability [Relation] enable [Effect] encourages bargain-seeking customers to visit the stores frequently, spurring traffic and repeat store visits that are further spurred by the firm's loyalty program",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, Marriott has significant leverage over Host to demand capital expenditures to maintain brand standards that are subject to change, while Host is unable to execute on potentially accretive renovations or cost-saving measures if they aren't approved by Marriott.",
    "output": "[Cause] they aren't approved by Marriott [Relation] cause [Effect] Host is unable to execute on potentially accretive renovations or cost-saving measures",
    "gold": "[Cause] they aren't approved by Marriott [Relation] cause [Effect] Host is unable to execute on potentially accretive renovations or cost-saving measures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This ability for users to customize their NICE products and generate personalized analytics and integrations is likely to attract new customers for NICE, which in turn will attract new developers as they can reach a wider audience.",
    "output": "[Cause] This ability for users to customize their NICE products and generate personalized analytics and integrations [Relation] enable [Effect] attract new customers for NICE",
    "gold": "[Cause] This ability for users to customize their NICE products and generate personalized analytics and integrations [Relation] enable [Effect] attract new customers for NICE",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This ability for users to customize their NICE products and generate personalized analytics and integrations is likely to attract new customers for NICE, which in turn will attract new developers as they can reach a wider audience.",
    "output": "[Cause] attract new customers for NICE [Relation] enable [Effect] attract new developers as they can reach a wider audience",
    "gold": "[Cause] attract new customers for NICE [Relation] enable [Effect] attract new developers as they can reach a wider audience",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This ability for users to customize their NICE products and generate personalized analytics and integrations is likely to attract new customers for NICE, which in turn will attract new developers as they can reach a wider audience.",
    "output": "[Cause] attract new customers for NICE [Relation] enable [Effect] attract new developers",
    "gold": "[Cause] they can reach a wider audience [Relation] enable [Effect] attract new developers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In iodine, we assume SQM will act as a rational player, growing volumes with market demand. As a result, we forecast the company's realized iodine prices will continue to remain above $30 per kilogram, compared with 2017, when prices averaged $15.75 per kilogram at the peak of SQM's volume over price strategy to gain market share.",
    "output": "[Cause] In iodine, we assume SQM will act as a rational player, growing volumes with market demand [Relation] cause [Effect] the company's realized iodine prices will continue to remain above $30 per kilogram, compared with 2017, when prices averaged $15.75 per kilogram at the peak of SQM's volume over price strategy to gain market share",
    "gold": "[Cause] In iodine, we assume SQM will act as a rational player, growing volumes with market demand [Relation] cause [Effect]  the company's realized iodine prices will continue to remain above $30 per kilogram, compared with 2017, when prices averaged $15.75 per kilogram at the peak of SQM's volume over price strategy to gain market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Alcon maintains its top market position in ophthalmic equipment because of surgeon familiarly with Alcon's system interface and the firm's continuous product innovation, making it difficult for competitors to take share.",
    "output": "[Cause] surgeon familiarly with Alcon's system interface and the firm's continuous product innovation [Relation] cause [Effect] Alcon maintains its top market position in ophthalmic equipment",
    "gold": "[Cause] surgeon familiarly with Alcon's system interface and the firm's continuous product innovation [Relation] enable [Effect] Alcon maintains its top market position in ophthalmic equipment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the increased importance of direct to consumer sales allowed the firm better control of pricing and its brand.",
    "output": "[Cause] the increased importance of direct to consumer sales [Relation] enable [Effect] the firm better control of pricing and its brand",
    "gold": "[Cause]  direct to consumer sales [Relation] cause [Effect]  better control of pricing and its brand.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, ultimately growing production should improve earnings and cash flow as cost reductions and the addition of low-cost presalt volumes could lower portfolio operating costs to $5/bbl on average through 2024, assuming a recovery in oil prices.",
    "output": "[Cause] cost reductions and the addition of low-cost presalt volumes could lower portfolio operating costs to $5/bbl on average through 2024 [Relation] cause [Effect] ultimately growing production should improve earnings and cash flow",
    "gold": "[Cause] cost reductions and the addition of low-cost presalt volumes could lower portfolio operating costs to $5/bbl on average through 2024 [Relation] enable [Effect] ultimately growing production should improve earnings and cash flow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Farfetch has a cost base to support higher revenue, providing opportunity for positive operating leverage as revenue grows. Hence, we expect general and administrative expense (including depreciation and technology expense) to scale from around 26% of gross merchandise value currently to 10.6% in 10 years' time.",
    "output": "[Cause] Farfetch has a cost base to support higher revenue, providing opportunity for positive operating leverage as revenue grows [Relation] cause [Effect] general and administrative expense (including depreciation and technology expense) to scale from around 26% of gross merchandise value currently to 10.6% in 10 years' time",
    "gold": "[Cause] Farfetch has a cost base to support higher revenue, providing opportunity for positive operating leverage as revenue grows [Relation] cause [Effect]  general and administrative expense (including depreciation and technology expense) to scale from around 26% of gross merchandise value currently to 10.6% in 10 years' time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our confidence stems from an improving upstream cost position and a strong downstream competitive position capable of supporting returns through the commodity price cycle.",
    "output": "[Cause] an improving upstream cost position and a strong downstream competitive position [Relation] enable [Effect] Our confidence",
    "gold": "[Cause] an improving upstream cost position and a strong downstream competitive position [Relation] enable [Effect] Our confidence",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our confidence stems from an improving upstream cost position and a strong downstream competitive position capable of supporting returns through the commodity price cycle.",
    "output": "[Cause] an improving upstream cost position and a strong downstream competitive position [Relation] enable [Effect] supporting returns through the commodity price cycle",
    "gold": "[Cause] an improving upstream cost position and a strong downstream competitive position [Relation] enable [Effect] supporting returns through the commodity price cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These key opinion leaders can also get tipping from or sell merchandise to their fans, which can encourage them to share more content on the Weibo platform.",
    "output": "[Cause] These key opinion leaders can also get tipping from or sell merchandise to their fans [Relation] enable [Effect] encourage them to share more content on the Weibo platform",
    "gold": "[Cause] These key opinion leaders can also get tipping from or sell merchandise to their fans [Relation] cause [Effect] encourage them to share more content on the Weibo platform",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect regulators will allow Southern to pass most of the incremental costs on to customers, preserving the firm's long-term earnings power.",
    "output": "[Cause] regulators will allow Southern to pass most of the incremental costs on to customers [Relation] enable [Effect] preserving the firm's long-term earnings power",
    "gold": "[Cause] regulators will allow Southern to pass most of the incremental costs on to customers [Relation] enable [Effect] preserving the firm's long-term earnings power",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the difficult environment, Diamondback has made the expected pivots, including adding $3 billion worth of Midland-focused deals in late 2020, which we see as creating shareholder value.",
    "output": "[Cause] Diamondback has made the expected pivots, including adding $3 billion worth of Midland-focused deals in late 2020 [Relation] cause [Effect] creating shareholder value",
    "gold": "[Cause] Diamondback has made the expected pivots, including adding $3 billion worth of Midland-focused deals in late 2020 [Relation] enable [Effect] creating shareholder value",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Larger clients' cost-reduction steps have also forced Omnicom and the rest of the Big Five to further consolidate to create cost efficiencies over smaller ad agencies and minimize the impact of possibly lower prices offered by the clients.",
    "output": "[Cause] create cost efficiencies over smaller ad agencies [Relation] enable [Effect] minimize the impact of possibly lower prices offered by the clients",
    "gold": "[Cause] create cost efficiencies over smaller ad agencies [Relation] cause [Effect] minimize the impact of possibly lower prices offered by the clients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For categories that are either in early or mature stages of growth (snacking and beverages), the team is looking to grow the top line profitably through volume leverage and value-added innovation.",
    "output": "[Cause] volume leverage and value-added innovation [Relation] enable [Effect] grow the top line profitably",
    "gold": "[Cause] categories that are either in early or mature stages of growth (snacking and beverages) [Relation] enable [Effect] the team is looking to grow the top line profitably through volume leverage and value-added innovation",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Mondelez benefits from a mutually beneficial relationship with retailers, through which it is an important retail partner in terms of assisting with sales strategies to maximize category volumes and profitability while prioritizing its own brands.",
    "output": "[Cause] assisting with sales strategies to maximize category volumes and profitability while prioritizing its own brands [Relation] enable [Effect] Mondelez benefits from a mutually beneficial relationship with retailers",
    "gold": "[Cause]  assisting with sales strategies to maximize category volumes and profitability [Relation] enable [Effect] it is an important retail partner",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Profitability should improve as dilution from Flipkart ebbs and Walmart focuses on its most attractive markets, with margins rising from 3.1% in fiscal 2020 to more than 5% by fiscal 2030.",
    "output": "[Cause] dilution from Flipkart ebbs and Walmart focuses on its most attractive markets [Relation] cause [Effect] Profitability should improve",
    "gold": "[Cause] dilution from Flipkart ebbs and Walmart focuses on its most attractive markets [Relation] cause [Effect] Profitability should improve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that the Pearl River Delta's economies are highly exposed to exports, slower trade growth would pressure freight transportation volume.",
    "output": "[Cause] the Pearl River Delta's economies are highly exposed to exports [Relation] cause [Effect] slower trade growth would pressure freight transportation volume",
    "gold": "[Cause] the Pearl River Delta's economies are highly exposed to exports [Relation] cause [Effect] slower trade growth would pressure freight transportation volume",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Beyond fiscal 2021, we believe that Best Buy's recent COVID-19 sales momentum will also help to accelerate its in-home advisory, total tech support, and healthcare services.",
    "output": "[Cause] Best Buy's recent COVID-19 sales momentum [Relation] enable [Effect] accelerate its in-home advisory, total tech support, and healthcare services",
    "gold": "[Cause] Best Buy's recent COVID-19 sales momentum [Relation] cause [Effect] accelerate its in-home advisory, total tech support, and healthcare services",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nuclear-powered submarines, Newport News' second major product, are the Navy's highest priority programs due to their stealthiness and relative cheapness.",
    "output": "[Cause] their stealthiness and relative cheapness [Relation] cause [Effect] Nuclear-powered submarines, Newport News' second major product, are the Navy's highest priority programs",
    "gold": "[Cause]  their stealthiness and relative cheapness [Relation] cause [Effect] Nuclear-powered submarines, Newport News' second major product, are the Navy's highest priority programs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since TransDigm's designs are proprietary, it is challenging for would-be competitors to prove that their design is identical. This barrier to entry allows TransDigm to extract value from FAA-required maintenance and enables the firm to aggressively price spare parts for its products.",
    "output": "[Cause] TransDigm's designs are proprietary, it is challenging for would-be competitors to prove that their design is identical [Relation] enable [Effect] TransDigm to extract value from FAA-required maintenance and enables the firm to aggressively price spare parts for its products",
    "gold": "[Cause] TransDigm's designs are proprietary, it is challenging for would-be competitors to prove that their design is identical [Relation] enable [Effect] TransDigm to extract value from FAA-required maintenance and enables the firm to aggressively price spare parts for its products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The merger of T-Mobile and Sprint has improved the industry's structure, leaving three players with little incentive to price irrationally in search of short-term market share gains.",
    "output": "[Cause] The merger of T-Mobile and Sprint has improved the industry's structure [Relation] cause [Effect] leaving three players with little incentive to price irrationally in search of short-term market share gains",
    "gold": "[Cause] The merger of T-Mobile and Sprint [Relation] enable [Effect]  improved the industry's structure",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Despite this, we still don't think its banner fiscal 2020 (that included 7% organic sales growth and 110 basis points of adjusted operating margin improvement to 16.7%) signals a sustained sales acceleration (prompted by increased at-home food consumption due to concerns over COVID-19) will manifest over an extended horizon. As such, we haven't wavered on our long-term forecast for about 2% annual sales growth longer term and mid-single-digit adjusted average earnings per-share growth over the next decade.",
    "output": "[Cause] we still don't think its banner fiscal 2020 (that included 7% organic sales growth and 110 basis points of adjusted operating margin improvement to 16.7%) signals a sustained sales acceleration (prompted by increased at-home food consumption due to concerns over COVID-19) will manifest over an extended horizon [Relation] cause [Effect] we haven't wavered on our long-term forecast for about 2% annual sales growth longer term and mid-single-digit adjusted average earnings per-share growth over the next decade",
    "gold": "[Cause] we still don't think its banner fiscal 2020 (that included 7% organic sales growth and 110 basis points of adjusted operating margin improvement to 16.7%) signals a sustained sales acceleration (prompted by increased at-home food consumption due to concerns over COVID-19) will manifest over an extended horizon [Relation] cause [Effect] we haven't wavered on our long-term forecast for about 2% annual sales growth longer term and mid-single-digit adjusted average earnings per-share growth over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This creates outsize purchasing leverage that we believe is a key ingredient in delivering the values Costco offers, augmented by a robust private-label offering.",
    "output": "[Cause] a robust private-label offering [Relation] enable [Effect] delivering the values Costco offers",
    "gold": "[Cause]  outsize purchasing leverage [Relation] enable [Effect]  delivering the values Costco offers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because recycled ferrous scrap metal used to produce steel in electric arc furnaces is imbued with impurities, owing to its exposure to other naturally occurring elements in use, steel produced by electric arc furnaces is typically lower-quality than steel produced via blast furnace.",
    "output": "[Cause] recycled ferrous scrap metal used to produce steel in electric arc furnaces is imbued with impurities [Relation] cause [Effect] steel produced by electric arc furnaces is typically lower-quality than steel produced via blast furnace",
    "gold": "[Cause]  its exposure to other naturally occurring elements in use [Relation] cause [Effect] recycled ferrous scrap metal used to produce steel in electric arc furnaces is imbued with impurities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because recycled ferrous scrap metal used to produce steel in electric arc furnaces is imbued with impurities, owing to its exposure to other naturally occurring elements in use, steel produced by electric arc furnaces is typically lower-quality than steel produced via blast furnace.",
    "output": "[Cause] recycled ferrous scrap metal used to produce steel in electric arc furnaces is imbued with impurities [Relation] cause [Effect] steel produced by electric arc furnaces is typically lower-quality than steel produced via blast furnace",
    "gold": "[Cause] recycled ferrous scrap metal used to produce steel in electric arc furnaces is imbued with impurities [Relation] cause [Effect] steel produced by electric arc furnaces is typically lower-quality than steel produced via blast furnace",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, as long as the two companies continue to demonstrate the effectiveness of RT, we anticipate the CMS to be rather friendly to the industry, given the low cost of RT relative to the overall cancer treatment industry.",
    "output": "[Cause] the low cost of RT relative to the overall cancer treatment industry [Relation] cause [Effect] the CMS to be rather friendly to the industry",
    "gold": "[Cause] the low cost of RT relative to the overall cancer treatment industry [Relation] cause [Effect] the CMS to be rather friendly to the industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We continue to model strong growth for the experiences and dining segment, where we forecast 2020-29 revenue to average 19%, versus 15% prior, as its benefits from leading content and awareness.",
    "output": "[Cause] its benefits from leading content and awareness [Relation] cause [Effect] We continue to model strong growth for the experiences and dining segment, where we forecast 2020-29 revenue to average 19%, versus 15% prior",
    "gold": "[Cause] We continue to model strong growth for the experiences and dining segment [Relation] enable [Effect] we forecast 2020-29 revenue to average 19%, versus 15% prior, as its benefits from leading content and awareness.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm is also seeing related weakness in utility coal, frac sand, and crude shipments stemming in part from depressed oil prices.",
    "output": "[Cause] depressed oil prices [Relation] cause [Effect] related weakness in utility coal, frac sand, and crude shipments stemming",
    "gold": "[Cause] depressed oil prices [Relation] cause [Effect] related weakness in utility coal, frac sand, and crude shipments stemming",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We don't think cloud providers want to compete in a retail co-location business, considering the difficulty we believe they'd have in mimicking a similar network of customers, but they could use their leverage to extract concessions.",
    "output": "[Cause] the difficulty we believe they'd have in mimicking a similar network of customers [Relation] cause [Effect] We don't think cloud providers want to compete in a retail co-location business",
    "gold": "[Cause] We don't think cloud providers want to compete in a retail co-location business, considering the difficulty [Relation] cause [Effect]  we believe they'd have in mimicking a similar network of customers, but they could use their leverage to extract concessions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Conversely, employment, wage, and miles driven growth could cause long-term outperformance (if scrappage rates did not rise as flush consumers bought new, under-warranty vehicles).",
    "output": "[Cause] employment, wage, and miles driven growth [Relation] cause [Effect] long-term outperformance",
    "gold": "[Cause] employment, wage, and miles driven growth [Relation] cause [Effect] long-term outperformance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Macy's, though, has been reporting poor same-store sales numbers even as its e-commerce business has grown, suggesting that e-commerce is cannibalizing its physical store sales.",
    "output": "[Cause] Macy's, though, has been reporting poor same-store sales numbers even as its e-commerce business has grown [Relation] cause [Effect] e-commerce is cannibalizing its physical store sales",
    "gold": "[Cause]  e-commerce is cannibalizing its physical store sales. [Relation] cause [Effect] Macy's, though, has been reporting poor same-store sales numbers even as its e-commerce business has grown",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because of the nature of the telecom industry, it is very difficult, though not impossible, for new operators to enter the markets Millicom serves.",
    "output": "[Cause] the nature of the telecom industry [Relation] cause [Effect] it is very difficult, though not impossible, for new operators to enter the markets Millicom serves",
    "gold": "[Cause] the nature of the telecom industry [Relation] cause [Effect] it is very difficult, though not impossible, for new operators to enter the markets Millicom serves",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Barring any new large growth projects, we expect earnings and cash flow to grow less than 2% on a normalized basis.",
    "output": "[Cause] Barring any new large growth projects [Relation] cause [Effect] earnings and cash flow to grow less than 2% on a normalized basis",
    "gold": "[Cause] Barring any new large growth projects [Relation] cause [Effect] earnings and cash flow to grow less than 2% on a normalized basis",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Most importantly, scale will be lost from ships that have been sold and scrapped, or remain in layup, as we anticipate Carnival will execute a staggered return to the sailing of the majority of its fleet across its brand portfolio in the back half of 2021.",
    "output": "[Cause] Carnival will execute a staggered return to the sailing of the majority of its fleet across its brand portfolio in the back half of 2021 [Relation] cause [Effect] scale will be lost from ships that have been sold and scrapped, or remain in layup",
    "gold": "[Cause]  Carnival will execute a staggered return to the sailing of the majority of its fleet across its brand portfolio in the back half of 2021 [Relation] cause [Effect] scale will be lost from ships that have been sold and scrapped, or remain in layup",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have some concerns that Allstate is prioritizing growth over profitability, as we do not believe the company has a meaningful advantage outside the captive agent channel.",
    "output": "[Cause] we do not believe the company has a meaningful advantage outside the captive agent channel [Relation] cause [Effect] We have some concerns that Allstate is prioritizing growth over profitability",
    "gold": "[Cause] we do not believe the company has a meaningful advantage outside the captive agent channel [Relation] cause [Effect] We have some concerns that Allstate is prioritizing growth over profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Though management has been gradually adding capacity to their manufacturing operations, the increases haven't been commensurate with demand, resulting in increased reliance on external breweries.",
    "output": "[Cause] Though management has been gradually adding capacity to their manufacturing operations, the increases haven't been commensurate with demand [Relation] cause [Effect] increased reliance on external breweries",
    "gold": "[Cause] Though management has been gradually adding capacity to their manufacturing operations, the increases haven't been commensurate with demand [Relation] cause [Effect]  increased reliance on external breweries",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "During the Great Recession in 2008, gaming revenue on the Vegas Strip declined 19%, and we expect Caesars' Vegas sales to drop around 65% in 2020 due to COVID-19.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] Caesars' Vegas sales to drop around 65% in 2020",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] Caesars' Vegas sales to drop around 65% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, if COVID-19 stays prevalent longer then we anticipate (past the current June 1, 2021, start sail date in the U.S.), hardware could continue to be laid up, hindering profits.",
    "output": "[Cause] COVID-19 stays prevalent longer [Relation] cause [Effect] hardware could continue to be laid up",
    "gold": "[Cause]  hardware could continue to be laid up [Relation] prevent [Effect] profits",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, if COVID-19 stays prevalent longer then we anticipate (past the current June 1, 2021, start sail date in the U.S.), hardware could continue to be laid up, hindering profits.",
    "output": "[Cause] hardware could continue to be laid up [Relation] prevent [Effect] profits",
    "gold": "[Cause]  if COVID-19 stays prevalent longer [Relation] cause [Effect]  hardware could continue to be laid up, hindering profits",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Once the cost of C-band spectrum is added to the capital base, we estimate wireless ROICs will drop a bit more than one percentage point, remaining ahead of AT&amp;T's cost of capital.",
    "output": "[Cause] the cost of C-band spectrum is added to the capital base [Relation] cause [Effect] wireless ROICs will drop a bit more than one percentage point, remaining ahead of AT&amp;T's cost of capital",
    "gold": "[Cause] the cost of C-band spectrum is added to the capital base [Relation] cause [Effect]  wireless ROICs will drop a bit more than one percentage point, remaining ahead of AT&amp;T's cost of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "PSEG's 1.3 gigawatts of new capacity plus incremental upgrades to its existing fleet should lift fleetwide returns on capital as that revenue replaces its legacy coal generation.",
    "output": "[Cause] revenue replaces its legacy coal generation [Relation] cause [Effect] PSEG's 1.3 gigawatts of new capacity plus incremental upgrades to its existing fleet should lift fleetwide returns on capital",
    "gold": "[Cause] revenue replaces its legacy coal generation [Relation] cause [Effect] PSEG's 1.3 gigawatts of new capacity plus incremental upgrades to its existing fleet should lift fleetwide returns on capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We view this area as the weakest for Boston Properties, and further difficulties could pose a risk to the company's financial performance.",
    "output": "[Cause] further difficulties [Relation] cause [Effect] pose a risk to the company's financial performance",
    "gold": "[Cause]  this area as the weakest for Boston Properties [Relation] cause [Effect]  further difficulties could pose a risk to the company's financial performance",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company is still too young and too small, and although it may have a nice head start, we don't think Fastly's position would prevent a hypothetical new competitor entering the market today from competing effectively.",
    "output": "[Cause] The company is still too young and too small [Relation] cause [Effect] we don't think Fastly's position would prevent a hypothetical new competitor entering the market today from competing effectively",
    "gold": "[Cause] it may have a nice head start [Relation] enable [Effect]  a hypothetical new competitor entering the market today from competing effectively",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm boasts a portfolio of businesses with well-regarded brands in niche markets that benefit from sizable installed bases, leading to highly recurring revenue.",
    "output": "[Cause] sizable installed bases [Relation] enable [Effect] benefit from highly recurring revenue",
    "gold": "[Cause] sizable installed bases [Relation] cause [Effect] The firm boasts a portfolio of businesses with well-regarded brands in niche markets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm boasts a portfolio of businesses with well-regarded brands in niche markets that benefit from sizable installed bases, leading to highly recurring revenue.",
    "output": "[Cause] sizable installed bases [Relation] enable [Effect] highly recurring revenue",
    "gold": "[Cause] The firm boasts a portfolio of businesses with well-regarded brands in niche markets [Relation] cause [Effect] highly recurring revenue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The testing kit provides a significant opportunity in terms of additional new product volume growth but still represents a smaller part of sales due to the lack of reimbursement that exists even after UnitedHealthcare's decision.",
    "output": "[Cause] the lack of reimbursement that exists even after UnitedHealthcare's decision [Relation] cause [Effect] The testing kit provides a significant opportunity in terms of additional new product volume growth",
    "gold": "[Cause] The testing kit [Relation] enable [Effect] provides a significant opportunity in terms of additional new product volume growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The testing kit provides a significant opportunity in terms of additional new product volume growth but still represents a smaller part of sales due to the lack of reimbursement that exists even after UnitedHealthcare's decision.",
    "output": "[Cause] the lack of reimbursement that exists even after UnitedHealthcare's decision [Relation] cause [Effect] represents a smaller part of sales",
    "gold": "[Cause]  the lack of reimbursement that exists even after UnitedHealthcare's decision [Relation] enable [Effect] represents a smaller part of sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Hasbro is in a slightly protected position, as its sheer size allows it to allocate significant capital to marketing, a luxury likely not available to a new market entrant.",
    "output": "[Cause] its sheer size allows it to allocate significant capital to marketing [Relation] cause [Effect] Hasbro is in a slightly protected position",
    "gold": "[Cause] its sheer size allows it to allocate significant capital to marketing [Relation] cause [Effect] Hasbro is in a slightly protected position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Most of the revenue increase is from the TD Ameritrade merger that should increase net revenue about 40% in 2021.",
    "output": "[Cause] Most of the revenue increase is from the TD Ameritrade merger [Relation] enable [Effect] increase net revenue about 40% in 2021",
    "gold": "[Cause]  the TD Ameritrade merger [Relation] cause [Effect] Most of the revenue increase",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our forecast includes a recovery from the COVID-19-related slowdown in 2021, but we expect the company's growth to get back on track as sales to the food-service industry pick up after the pandemic.",
    "output": "[Cause] sales to the food-service industry pick up after the pandemic [Relation] enable [Effect] the company's growth to get back on track",
    "gold": "[Cause] sales to the food-service industry pick up after the pandemic [Relation] enable [Effect] the company's growth to get back on track",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Colfax's increased R&D spending has started to bear fruit, and the company has gained market share in recent years thanks to new product introductions.",
    "output": "[Cause] new product introductions [Relation] enable [Effect] the company has gained market share in recent years",
    "gold": "[Cause] new product introductions [Relation] cause [Effect] the company has gained market share in recent years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While many studies have shown glyphosate use to be safe, some reports of linkage to cancer drove large class action legal cases against Bayer and led to a legal settlement of over $10 billion.",
    "output": "[Cause] some reports of linkage to cancer [Relation] cause [Effect] large class action legal cases against Bayer and led to a legal settlement of over $10 billion",
    "gold": "[Cause] some reports of linkage to cancer [Relation] cause [Effect] large class action legal cases against Bayer and led to a legal settlement of over $10 billion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think increased emissions content has led to market share gains for Cummins, as some truck manufacturers have opted to forego investing in new components to meet more stringent emission standards.",
    "output": "[Cause] increased emissions content [Relation] cause [Effect] market share gains for Cummins",
    "gold": "[Cause] some truck manufacturers have opted to forego investing in new components [Relation] cause [Effect] increased emissions content has led to market share gains for Cummins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think increased emissions content has led to market share gains for Cummins, as some truck manufacturers have opted to forego investing in new components to meet more stringent emission standards.",
    "output": "[Cause] increased emissions content [Relation] cause [Effect] market share gains for Cummins",
    "gold": "[Cause] increased emissions content [Relation] cause [Effect] market share gains for Cummins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With about 40% share of the ADC market, F5 will likely remain the go-to provider of solutions for their customers' cloud ecosystems due to product familiarity, customization features, application and network level management, security-focus, and an active developer community.",
    "output": "[Cause] product familiarity, customization features, application and network level management, security-focus, and an active developer community [Relation] cause [Effect] F5 will likely remain the go-to provider of solutions for their customers' cloud ecosystems",
    "gold": "[Cause] about 40% share of the ADC market | product familiarity, customization features, application and network level management, security-focus, and an active developer community [Relation] enable [Effect] F5 will likely remain the go-to provider of solutions for their customers' cloud ecosystems",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, we've surveyed prior environmental and product liability cases and believe the stock price bakes in overly pessimistic litigation risks.",
    "output": "[Cause] the stock price bakes in overly pessimistic litigation risks [Relation] cause [Effect] we've surveyed prior environmental and product liability cases",
    "gold": "[Cause] overly pessimistic litigation risks [Relation] cause [Effect] the stock price bakes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As one simple example, one can imagine the disaster that would occur if Weather Channel data for Peru were accidentally replacing the data set for weather patterns in Ohio, which might lead to bad decisions and damages for companies reliant on such data, like airlines or scientific researchers.",
    "output": "[Cause] Weather Channel data for Peru were accidentally replacing the data set for weather patterns in Ohio [Relation] cause [Effect] bad decisions and damages for companies reliant on such data, like airlines or scientific researchers",
    "gold": "[Cause] Weather Channel data for Peru were accidentally replacing the data set for weather patterns in Ohio [Relation] cause [Effect] bad decisions and damages for companies reliant on such data, like airlines or scientific researchers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This strategy has freed up capital to spend on customer acquisition and retention, leading to nearly 29 million active users at the end of September 2020 who spend around $450 per year (versus 1.3 million users who spent $300 in 2012).",
    "output": "[Cause] This strategy has freed up capital to spend on customer acquisition and retention [Relation] cause [Effect] nearly 29 million active users at the end of September 2020 who spend around $450 per year (versus 1.3 million users who spent $300 in 2012)",
    "gold": "[Cause] This strategy has freed up capital to spend on customer acquisition and retention [Relation] cause [Effect] nearly 29 million active users at the end of September 2020 who spend around $450 per year (versus 1.3 million users who spent $300 in 2012)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Industry professionals strive for Cisco certifications to demonstrate networking expertise, and the company continues to expand its branded training programs as the market shifts to software-defined networking.",
    "output": "[Cause] the market shifts to software-defined networking [Relation] cause [Effect] the company continues to expand its branded training programs",
    "gold": "[Cause] the market shifts to software-defined networking [Relation] cause [Effect] the company continues to expand its branded training programs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Following the 2018 trucking capacity crunch, 2019 was a hangover year for LTL carriers and asset-light highway brokers as industrial end markets softened and spot rates retreated.",
    "output": "[Cause] industrial end markets softened and spot rates retreated [Relation] cause [Effect] 2019 was a hangover year for LTL carriers and asset-light highway brokers",
    "gold": "[Cause] industrial end markets softened and spot rates retreated [Relation] cause [Effect] 2019 was a hangover year for LTL carriers and asset-light highway brokers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, leading up to 2023, Corteva plans to transition all of its new seed products to the Enlist platform, which should expand profits as Corteva will not have to pay royalties.",
    "output": "[Cause] Corteva will not have to pay royalties [Relation] cause [Effect] expand profits",
    "gold": "[Cause] Corteva will not have to pay royalties [Relation] cause [Effect]  expand profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We continue to model strong growth for the experiences and dining segment, where we forecast 2021-30 revenue to average 23%, as its benefits from leading content and awareness.",
    "output": "[Cause] its benefits from leading content and awareness [Relation] cause [Effect] We continue to model strong growth for the experiences and dining segment, where we forecast 2021-30 revenue to average 23%",
    "gold": "[Cause] its benefits from leading content and awareness [Relation] cause [Effect] We continue to model strong growth for the experiences and dining segment, where we forecast 2021-30 revenue to average 23%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast an operating margin of just 20% (excluding unusual charges) in 2021 despite 27% sales growth, leading to adjusted EPS for the year of $6.40.",
    "output": "[Cause] an operating margin of just 20% (excluding unusual charges) in 2021 despite 27% sales growth [Relation] cause [Effect] adjusted EPS for the year of $6.40",
    "gold": "[Cause] an operating margin of just 20% (excluding unusual charges) in 2021 despite 27% sales growth [Relation] cause [Effect] adjusted EPS for the year of $6.40",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Caterpillar has also benefited from its ability to bring down maintenance costs for customers by increasing machine connectivity over the past decade.",
    "output": "[Cause] increasing machine connectivity over the past decade [Relation] enable [Effect] Caterpillar has also benefited from its ability to bring down maintenance costs for customers",
    "gold": "[Cause] increasing machine connectivity over the past decade [Relation] enable [Effect] Caterpillar has also benefited from its ability to bring down maintenance costs for customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The more buyers and sellers there are on a platform the more valuable the platform is to other buyers and sellers since they will be able to conduct transactions at a lower total cost.",
    "output": "[Cause] they will be able to conduct transactions at a lower total cost [Relation] cause [Effect] The more buyers and sellers there are on a platform the more valuable the platform is to other buyers and sellers",
    "gold": "[Cause] they will be able to conduct transactions at a lower total cost [Relation] cause [Effect] The more buyers and sellers there are on a platform the more valuable the platform is to other buyers and sellers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With 2021 off to a faster-than-expected start in Genuine Parts' automotive and industrial segments as domestic vaccination progress leads economic conditions to improve, we are lifting our valuation of Genuine Parts to $109 per share from $104.",
    "output": "[Cause] domestic vaccination progress leads economic conditions to improve [Relation] cause [Effect] 2021 off to a faster-than-expected start in Genuine Parts' automotive and industrial segments",
    "gold": "[Cause] domestic vaccination progress leads economic conditions to improve [Relation] cause [Effect] 2021 off to a faster-than-expected start in Genuine Parts' automotive and industrial segments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With 2021 off to a faster-than-expected start in Genuine Parts' automotive and industrial segments as domestic vaccination progress leads economic conditions to improve, we are lifting our valuation of Genuine Parts to $109 per share from $104.",
    "output": "[Cause] domestic vaccination progress leads economic conditions to improve [Relation] cause [Effect] 2021 off to a faster-than-expected start in Genuine Parts' automotive and industrial segments",
    "gold": "[Cause] 2021 off to a faster-than-expected start in Genuine Parts' automotive and industrial segments [Relation] cause [Effect] we are lifting our valuation of Genuine Parts to $109 per share from $104",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Profitability has been depressed since the late 2014 oil and gas downturn, not only because of the direct effect of lower drilling activity on equipment usage, but also because National Oilwell Varco's customers have been cannibalizing their inventory of spare parts stripped from idle equipment.",
    "output": "[Cause] the direct effect of lower drilling activity on equipment usage [Relation] cause [Effect] Profitability has been depressed since the late 2014 oil and gas downturn",
    "gold": "[Cause] the direct effect of lower drilling activity on equipment usage [Relation] cause [Effect] Profitability has been depressed since the late 2014 oil and gas downturn",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Profitability has been depressed since the late 2014 oil and gas downturn, not only because of the direct effect of lower drilling activity on equipment usage, but also because National Oilwell Varco's customers have been cannibalizing their inventory of spare parts stripped from idle equipment.",
    "output": "[Cause] National Oilwell Varco's customers have been cannibalizing their inventory of spare parts stripped from idle equipment [Relation] cause [Effect] Profitability has been depressed since the late 2014 oil and gas downturn",
    "gold": "[Cause] National Oilwell Varco's customers have been cannibalizing their inventory of spare parts stripped from idle equipment [Relation] cause [Effect] Profitability has been depressed since the late 2014 oil and gas downturn",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the face of this competition in Mississippi, as well as new openings set to occur in the neighboring state of Arkansas, Caesars closed its Tunica resort in 2019.",
    "output": "[Cause] this competition in Mississippi [Relation] cause [Effect] Caesars closed its Tunica resort in 2019",
    "gold": "[Cause] this competition in Mississippi [Relation] cause [Effect] Caesars closed its Tunica resort in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the face of this competition in Mississippi, as well as new openings set to occur in the neighboring state of Arkansas, Caesars closed its Tunica resort in 2019.",
    "output": "[Cause] Caesars closed its Tunica resort in 2019 [Relation] cause [Effect] new openings set to occur in the neighboring state of Arkansas",
    "gold": "[Cause] new openings set to occur in the neighboring state of Arkansas [Relation] cause [Effect] Caesars closed its Tunica resort in 2019",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the coming years, we see GAAP gross margins reaching the low-60s as Broadcom has done well paring most of the margin dilutive businesses acquired through its M&A tear.",
    "output": "[Cause] Broadcom has done well paring most of the margin dilutive businesses acquired through its M&A tear [Relation] cause [Effect] GAAP gross margins reaching the low-60s",
    "gold": "[Cause] Broadcom has done well paring most of the margin dilutive businesses acquired through its M&A tear [Relation] cause [Effect] GAAP gross margins reaching the low-60s",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project revenue to grow at an 10% compound annual growth rate through 2025, driven by the secular shift toward electronic payments, increasing e-commerce revenue, and growth in international markets.",
    "output": "[Cause] the secular shift toward electronic payments [Relation] cause [Effect] revenue to grow at an 10% compound annual growth rate through 2025",
    "gold": "[Cause] the secular shift toward electronic payments [Relation] cause [Effect] revenue to grow at an 10% compound annual growth rate through 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project revenue to grow at an 10% compound annual growth rate through 2025, driven by the secular shift toward electronic payments, increasing e-commerce revenue, and growth in international markets.",
    "output": "[Cause] the secular shift toward electronic payments, increasing e-commerce revenue, and growth in international markets [Relation] cause [Effect] revenue to grow at an 10% compound annual growth rate through 2025",
    "gold": "[Cause] revenue to grow at an 10% compound annual growth rate through 2025 [Relation] cause [Effect] increasing e-commerce revenue, and growth in international markets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For instance, contact center representatives using Flex would be able to see all of the customer's interactions and purchases with the company in one place, enabling them to provide a more personalized support experience.",
    "output": "[Cause] contact center representatives using Flex [Relation] enable [Effect] see all of the customer's interactions and purchases with the company in one place",
    "gold": "[Cause] contact center representatives using Flex [Relation] enable [Effect] see all of the customer's interactions and purchases with the company in one place",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Such solutions lead to a happier workforce, which in turn leads to a better customer service experience, which leads to higher customer loyalty, and the cycle repeats.",
    "output": "[Cause] Such solutions [Relation] cause [Effect] a happier workforce",
    "gold": "[Cause] Such solutions [Relation] cause [Effect] a happier workforce",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Such solutions lead to a happier workforce, which in turn leads to a better customer service experience, which leads to higher customer loyalty, and the cycle repeats.",
    "output": "[Cause] Such solutions lead to a happier workforce [Relation] cause [Effect] leads to a better customer service experience",
    "gold": "[Cause] Such solutions lead to a happier workforce [Relation] cause [Effect] leads to a better customer service experience",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Such solutions lead to a happier workforce, which in turn leads to a better customer service experience, which leads to higher customer loyalty, and the cycle repeats.",
    "output": "[Cause] Such solutions lead to a happier workforce [Relation] cause [Effect] leads to a better customer service experience",
    "gold": "[Cause] Such solutions lead to a happier workforce [Relation] cause [Effect] leads to higher customer loyalty, and the cycle repeats",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think a strong network effect allows leading e-commerce players to extend into other growth avenues, and nowhere is that more evident than Alibaba.",
    "output": "[Cause] a strong network effect [Relation] enable [Effect] leading e-commerce players to extend into other growth avenues",
    "gold": "[Cause] a strong network effect [Relation] enable [Effect] leading e-commerce players to extend into other growth avenues",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With raw materials transported through pipelines, the company avoids transporting 7 million metric tons of freight (equivalent to 280,000 truckloads) each year.",
    "output": "[Cause] raw materials transported through pipelines [Relation] cause [Effect] the company avoids transporting 7 million metric tons of freight (equivalent to 280,000 truckloads) each year",
    "gold": "[Cause] raw materials transported through pipelines [Relation] enable [Effect] the company avoids transporting 7 million metric tons of freight (equivalent to 280,000 truckloads) each year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the limited need for capital in retailing (with most operators using operating leases), we would expect average ROICs to surpass our WACC unless the housing market faces another downturn; however, our model predicts volatile ROIC performance, given the magnitude of negative working capital.",
    "output": "[Cause] the magnitude of negative working capital [Relation] cause [Effect] volatile ROIC performance",
    "gold": "[Cause] the magnitude of negative working capital [Relation] cause [Effect] volatile ROIC performance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With an expanding customer base and a service territory with rich renewable energy resources, Portland General Electric, or PGE, has found plenty of investment opportunities.",
    "output": "[Cause] an expanding customer base and a service territory with rich renewable energy resources [Relation] enable [Effect] Portland General Electric, or PGE, has found plenty of investment opportunities",
    "gold": "[Cause]  an expanding customer base and a service territory with rich renewable energy resources [Relation] enable [Effect] Portland General Electric, or PGE, has found plenty of investment opportunities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the human resources side, the company's exposure is primarily to the health of the employment market and general macroeconomic conditions, as any headwinds in these areas could limit clients' willingness to pay for services.",
    "output": "[Cause] any headwinds in these areas could limit clients' willingness to pay for services [Relation] cause [Effect] the company's exposure is primarily to the health of the employment market and general macroeconomic conditions",
    "gold": "[Cause] the health of the employment market and general macroeconomic conditions [Relation] cause [Effect]  limit clients' willingness to pay for services",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we do not see Commerce Cloud as a clear add-on to SFA, we do see a more obvious relation to Marketing, as it enables an e-commerce engine driven by data and analytics.",
    "output": "[Cause] it enables an e-commerce engine driven by data and analytics [Relation] cause [Effect] we do see a more obvious relation to Marketing",
    "gold": "[Cause]  it enables an e-commerce engine driven by data and analytics [Relation] cause [Effect] we do see a more obvious relation to Marketing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect a high-70% decline in 2020 industry Macao gaming revenue (mid-50% decline prior), as visa and COVID-19 testing restrictions have remained in place longer than previously expected.",
    "output": "[Cause] visa and COVID-19 testing restrictions have remained in place longer than previously expected [Relation] cause [Effect] a high-70% decline in 2020 industry Macao gaming revenue (mid-50% decline prior)",
    "gold": "[Cause] visa and COVID-19 testing restrictions have remained in place longer than previously expected [Relation] cause [Effect] a high-70% decline in 2020 industry Macao gaming revenue (mid-50% decline prior)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our opinion, one of the biggest challenges facing consumer product manufacturers, and the primary reason for the intense competition among the leading players, is the finite nature of shelf space and distribution capacity.",
    "output": "[Cause] the finite nature of shelf space and distribution capacity [Relation] cause [Effect] the intense competition among the leading players",
    "gold": "[Cause] the finite nature of shelf space and distribution capacity [Relation] cause [Effect] one of the biggest challenges facing consumer product manufacturers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The pipeline has several therapies using the firm's liver-targeting LICA technology, which allows lower dosages and reduced side effects while improving potency and convenience, and Ionis has published clinical data supporting these improved profiles.",
    "output": "[Cause] The pipeline has several therapies using the firm's liver-targeting LICA technology [Relation] enable [Effect] lower dosages and reduced side effects while improving potency and convenience",
    "gold": "[Cause] The pipeline has several therapies using the firm's liver-targeting LICA technology [Relation] enable [Effect]  lower dosages and reduced side effects while improving potency and convenience",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The patents, in particular, protect Fresenius' tools from direct copycats for the life of the patent (20 years from application to expiration), creating differentiated features that would be difficult for competitors to completely replicate when introducing similar products during the patent-protected period.",
    "output": "[Cause] The patents, in particular, protect Fresenius' tools from direct copycats for the life of the patent (20 years from application to expiration) [Relation] cause [Effect] differentiated features that would be difficult for competitors to completely replicate when introducing similar products during the patent-protected period",
    "gold": "[Cause] The patents, in particular, protect Fresenius' tools from direct copycats for the life of the patent (20 years from application to expiration) [Relation] cause [Effect] creating differentiated features",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The bank is also large enough to be subject to the Federal Reserve's annual stress tests, as well as a host of other regulatory requirements (LCR, SLR, and so on), and we don't see any massive regulatory relief coming for the large money center banks.",
    "output": "[Cause] The bank is also large enough to be subject to the Federal Reserve's annual stress tests, as well as a host of other regulatory requirements (LCR, SLR, and so on) [Relation] cause [Effect] we don't see any massive regulatory relief coming for the large money center banks",
    "gold": "[Cause] The bank is also large enough [Relation] enable [Effect]  be subject to the Federal Reserve's annual stress tests, as well as a host of other regulatory requirements",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Endowments of oil resources are spread across a wide variety of countries, meaning that oil producers have less available discretion with respect to choosing political partners compared with participants in other industries.",
    "output": "[Cause] Endowments of oil resources are spread across a wide variety of countries [Relation] cause [Effect] oil producers have less available discretion with respect to choosing political partners compared with participants in other industries",
    "gold": "[Cause] Endowments of oil resources are spread across a wide variety of countries [Relation] cause [Effect] oil producers have less available discretion with respect to choosing political partners compared with participants in other industries",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, given ICE's recent acquisition of BAML fixed-income indexes and its strong position in fixed-income data, it is conceivable ICE may be in the process of constructing a cost advantage in calculating and licensing fixed-income indexes.",
    "output": "[Cause] ICE's recent acquisition of BAML fixed-income indexes and its strong position in fixed-income data [Relation] cause [Effect] it is conceivable ICE may be in the process of constructing a cost advantage in calculating and licensing fixed-income indexes",
    "gold": "[Cause] ICE's recent acquisition of BAML fixed-income indexes and its strong position in fixed-income data [Relation] cause [Effect] it is conceivable ICE may be in the process of constructing a cost advantage in calculating and licensing fixed-income indexes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Around 20%-25% of Unilever's cost of goods sold is linked to energy prices, and this could rise if economic growth re-accelerates.",
    "output": "[Cause] economic growth re-accelerates [Relation] cause [Effect] Around 20%-25% of Unilever's cost of goods sold is linked to energy prices, and this could rise",
    "gold": "[Cause] economic growth re-accelerates [Relation] cause [Effect] Around 20%-25% of Unilever's cost of goods sold is linked to energy prices, and this could rise",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In a downturn, which can occur from economic slowdown, terror attacks, or illnesses like COVID-19, consumers and businesses look to cut back on expenses like travel.",
    "output": "[Cause] economic slowdown, terror attacks, or illnesses like COVID-19 [Relation] cause [Effect] consumers and businesses look to cut back on expenses like travel",
    "gold": "[Cause] terror attacks, or illnesses like COVID-19, consumers and businesses look to cut back on expenses like travel [Relation] cause [Effect] occur from economic slowdown",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although Exxon continues to operate a highly integrated model and has aligned its management structure to do so, its lead in returns on capital employed, a key metric of performance among the group, has eroded as upstream performance has waned.",
    "output": "[Cause] upstream performance has waned [Relation] cause [Effect] its lead in returns on capital employed, a key metric of performance among the group, has eroded",
    "gold": "[Cause] upstream performance has waned [Relation] cause [Effect] its lead in returns on capital employed, a key metric of performance among the group, has eroded",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company may also make acquisitions, and although we have not included major activities in our projections, acquisitions could add to earnings growth.",
    "output": "[Cause] acquisitions [Relation] enable [Effect] add to earnings growth",
    "gold": "[Cause] acquisitions [Relation] enable [Effect] add to earnings growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since private-label brands boost profit margins, we believe distributors that offer them have a cost advantage over those that don't.",
    "output": "[Cause] private-label brands boost profit margins [Relation] cause [Effect] distributors that offer them have a cost advantage over those that don't",
    "gold": "[Cause]  private-label brands boost profit margins [Relation] enable [Effect] distributors that offer them have a cost advantage over those that don't",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In agriculture, we think demand for corn and soybeans will be strong in the near term, largely due to robust demand from China and tight global supplies.",
    "output": "[Cause] robust demand from China and tight global supplies [Relation] cause [Effect] demand for corn and soybeans will be strong in the near term",
    "gold": "[Cause] robust demand from China and tight global supplies [Relation] cause [Effect] demand for corn and soybeans will be strong in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While that particular installation may be Palantir's largest, its solutions are used across 36 industries as of June 2020 and we believe each commercial or government customer faces tremendous disruptions if changing from Palantir's platforms.",
    "output": "[Cause] changing from Palantir's platforms [Relation] cause [Effect] each commercial or government customer faces tremendous disruptions",
    "gold": "[Cause] changing from Palantir's platforms [Relation] cause [Effect] each commercial or government customer faces tremendous disruptions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Implementation of a new vendor would likely require parallel testing given the mission-critical nature of NICE's product, leading to high monetary costs, as well.",
    "output": "[Cause] the mission-critical nature of NICE's product [Relation] cause [Effect] Implementation of a new vendor would likely require parallel testing",
    "gold": "[Cause] the mission-critical nature of NICE's product [Relation] cause [Effect] Implementation of a new vendor would likely require parallel testing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Implementation of a new vendor would likely require parallel testing given the mission-critical nature of NICE's product, leading to high monetary costs, as well.",
    "output": "[Cause] Implementation of a new vendor would likely require parallel testing [Relation] cause [Effect] high monetary costs",
    "gold": "[Cause] the mission-critical nature of NICE's product [Relation] cause [Effect] high monetary costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think YouTube is also valuable, as it benefits from a network effect that creates value for users, content creators, and advertisers.",
    "output": "[Cause] it benefits from a network effect that creates value for users, content creators, and advertisers [Relation] cause [Effect] YouTube is also valuable",
    "gold": "[Cause]  it benefits from a network effect that creates value for users, content creators, and advertisers [Relation] enable [Effect]  YouTube is also valuable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition to cost synergies, we see opportunities to achieve revenue synergies (from cross selling and enhanced pricing power) and improve capital efficiency as the combined firm embraces digitalization to better manage its cash-conversion cycle.",
    "output": "[Cause] the combined firm embraces digitalization to better manage its cash-conversion cycle [Relation] enable [Effect] opportunities to achieve revenue synergies (from cross selling and enhanced pricing power) and improve capital efficiency",
    "gold": "[Cause] the combined firm embraces digitalization to better manage its cash-conversion cycle [Relation] enable [Effect] opportunities to achieve revenue synergies (from cross selling and enhanced pricing power) and improve capital efficiency",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After 2020's 21% drop in organic sales, we think the increasing availability of coronavirus vaccines in 2021 will spur a recovery in away-from-home dining, resulting in 16% and 9% bumps in organic sales in 2021 and 2022, respectively.",
    "output": "[Cause] the increasing availability of coronavirus vaccines in 2021 [Relation] cause [Effect] spur a recovery in away-from-home dining",
    "gold": "[Cause] increasing availability of coronavirus vaccines in 2021 [Relation] enable [Effect]  16% and 9% bumps in organic sales in 2021 and 2022",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With growing clinical and payer support for at-home treatments, Fresenius is taking aim at those ESRD therapies with significant investments, too.",
    "output": "[Cause] growing clinical and payer support for at-home treatments [Relation] cause [Effect] Fresenius is taking aim at those ESRD therapies with significant investments, too",
    "gold": "[Cause]  growing clinical and payer support for at-home treatments [Relation] cause [Effect] Fresenius is taking aim at those ESRD therapies with significant investments, too",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the number of Android-powered smartphones increases, more developers will create more apps to be made available on Google Play and run on those smartphones, creating additional value for Android smartphone users.",
    "output": "[Cause] the number of Android-powered smartphones increases [Relation] cause [Effect] more developers will create more apps to be made available on Google Play and run on those smartphones",
    "gold": "[Cause]  the number of Android-powered smartphones increases [Relation] cause [Effect] more developers will create more apps to be made available on Google Play and run on those smartphones",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the number of Android-powered smartphones increases, more developers will create more apps to be made available on Google Play and run on those smartphones, creating additional value for Android smartphone users.",
    "output": "[Cause] more developers will create more apps to be made available on Google Play and run on those smartphones [Relation] enable [Effect] creating additional value for Android smartphone users",
    "gold": "[Cause] more developers will create more apps to be made available on Google Play and run on those smartphones [Relation] cause [Effect] creating additional value for Android smartphone users",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While National Oilwell Varco as the OEM can already be expected to have the best knowledge of its equipment, this knowledge is greatly enhanced by using the data from its large installed base.",
    "output": "[Cause] using the data from its large installed base [Relation] enable [Effect] this knowledge is greatly enhanced",
    "gold": "[Cause] National Oilwell Varco as the OEM can already be expected to have the best knowledge of its equipment [Relation] enable [Effect] this knowledge is greatly enhanced by using the data from its large installed base",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe this makes it even harder for cannabis companies to build a recognizable brand, as opportunities to directly address the consumer will be limited.",
    "output": "[Cause] opportunities to directly address the consumer will be limited [Relation] cause [Effect] this makes it even harder for cannabis companies to build a recognizable brand",
    "gold": "[Cause] opportunities to directly address the consumer will be limited [Relation] cause [Effect] this makes it even harder for cannabis companies to build a recognizable brand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The customizable nature of titration equipment creates friction that would need to be overcome for customers to purchase equipment from a competitor.",
    "output": "[Cause] The customizable nature of titration equipment [Relation] cause [Effect] friction",
    "gold": "[Cause] The customizable nature of titration equipment [Relation] cause [Effect] friction",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The customizable nature of titration equipment creates friction that would need to be overcome for customers to purchase equipment from a competitor.",
    "output": "[Cause] friction [Relation] cause [Effect] customers to purchase equipment from a competitor",
    "gold": "[Cause] friction [Relation] prevent [Effect] customers to purchase equipment from a competitor",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, we think reimbursement pressure could ease in 2022 once hospital-based labs (which are reimbursed at higher levels) are included in the recalculation of Medicare's clinical lab fee schedule.",
    "output": "[Cause] hospital-based labs (which are reimbursed at higher levels) are included in the recalculation of Medicare's clinical lab fee schedule [Relation] cause [Effect] reimbursement pressure could ease in 2022",
    "gold": "[Cause] hospital-based labs (which are reimbursed at higher levels) are included in the recalculation of Medicare's clinical lab fee schedule [Relation] enable [Effect] reimbursement pressure could ease in 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The entry of Rakuten in the mobile network business poses some risks to KDDI, but we believe that it is unlikely to build a sustainable network operator business so any pricing pressure it brings is unlikely to be permanent.",
    "output": "[Cause] it is unlikely to build a sustainable network operator business [Relation] cause [Effect] any pricing pressure it brings is unlikely to be permanent",
    "gold": "[Cause] it is unlikely to build a sustainable network operator business [Relation] cause [Effect] any pricing pressure it brings is unlikely to be permanent",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over our explicit forecast, we expect gross margins to improve by nearly 400 basis points as the company gains scale in its expansion of its 3DExperience customers and as low-gross-margin servicing revenue decreases.",
    "output": "[Cause] the company gains scale in its expansion of its 3DExperience customers and as low-gross-margin servicing revenue decreases [Relation] cause [Effect] gross margins to improve by nearly 400 basis points",
    "gold": "[Cause]  the company gains scale in its expansion of its 3DExperience customers and as low-gross-margin servicing revenue decreases [Relation] cause [Effect] gross margins to improve by nearly 400 basis points",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that software programs like Autodesk's Inventor or Dassault Systemes' SolidWorks have a more expansive university presence, given that they specialize in meeting midmarket CAD needs, which makes up the majority of the CAD market.",
    "output": "[Cause] they specialize in meeting midmarket CAD needs, which makes up the majority of the CAD market [Relation] cause [Effect] software programs like Autodesk's Inventor or Dassault Systemes' SolidWorks have a more expansive university presence",
    "gold": "[Cause] they specialize in meeting midmarket CAD needs, which makes up the majority of the CAD market [Relation] enable [Effect] software programs like Autodesk's Inventor or Dassault Systemes' SolidWorks have a more expansive university presence",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As we forecast Lululemon's e-commerce operating margins at 45.5% in the long term, rising digital sales should lift its overall profitability.",
    "output": "[Cause] rising digital sales [Relation] enable [Effect] lift its overall profitability",
    "gold": "[Cause] As we forecast Lululemon's e-commerce operating margins at 45.5% in the long term, [Relation] enable [Effect] rising digital sales should lift its overall profitability.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "BorgWarner's customers would incur prohibitively high switching costs should they withdraw business in the middle of a vehicle program, especially when BorgWarner has a supply agreement for a complete set of engine, drivetrain, electrified powertrain components.",
    "output": "[Cause] they withdraw business in the middle of a vehicle program [Relation] cause [Effect] BorgWarner's customers would incur prohibitively high switching costs",
    "gold": "[Cause]  they withdraw business in the middle of a vehicle program [Relation] cause [Effect] BorgWarner's customers would incur prohibitively high switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Coca-Cola Femsa operates exclusively in Latin America and, in our view, the bottling industry here and in other developing regions is even more conducive to scale-based advantages, given the much higher levels of concentration.",
    "output": "[Cause] the much higher levels of concentration [Relation] cause [Effect] the bottling industry here and in other developing regions is even more conducive to scale-based advantages",
    "gold": "[Cause] the much higher levels of concentration [Relation] enable [Effect] the bottling industry here and in other developing regions is even more conducive to scale-based advantages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that the U.S.-based asset managers are facing not only fee compression but margin compression over the long run (as they spend more heavily to improve investment performance and enhance distribution capabilities), we believe much of the operating leverage inherent in the business will be blunted.",
    "output": "[Cause] they spend more heavily to improve investment performance and enhance distribution capabilities [Relation] cause [Effect] the U.S.-based asset managers are facing not only fee compression but margin compression over the long run",
    "gold": "[Cause] they spend more heavily to improve investment performance and enhance distribution capabilities [Relation] cause [Effect] the U.S.-based asset managers are facing not only fee compression but margin compression over the long run",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that the U.S.-based asset managers are facing not only fee compression but margin compression over the long run (as they spend more heavily to improve investment performance and enhance distribution capabilities), we believe much of the operating leverage inherent in the business will be blunted.",
    "output": "[Cause] they spend more heavily to improve investment performance and enhance distribution capabilities [Relation] cause [Effect] the U.S.-based asset managers are facing not only fee compression but margin compression over the long run",
    "gold": "[Cause] the U.S.-based asset managers are facing not only fee compression but margin compression over the long run [Relation] cause [Effect] much of the operating leverage inherent in the business will be blunted",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, the retail business operates with razor-thin margins, offering little room for error when NRG prices customer contracts to incorporate volume and energy cost risk.",
    "output": "[Cause] the retail business operates with razor-thin margins [Relation] cause [Effect] offering little room for error when NRG prices customer contracts to incorporate volume and energy cost risk",
    "gold": "[Cause] the retail business operates with razor-thin margins [Relation] cause [Effect] offering little room for error when NRG prices customer contracts to incorporate volume and energy cost risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Corning's synergies between display and specialty materials, along with its unparalleled scale in the cover glass market, allow it to consistently achieve operating margins 500-plus basis points above its chief competitors.",
    "output": "[Cause] Corning's synergies between display and specialty materials, along with its unparalleled scale in the cover glass market [Relation] enable [Effect] consistently achieve operating margins 500-plus basis points above its chief competitors",
    "gold": "[Cause] Corning's synergies between display and specialty materials, along with its unparalleled scale in the cover glass market [Relation] enable [Effect]  consistently achieve operating margins 500-plus basis points above its chief competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ferguson's prospects have improved as a result of better pricing discipline and a strategic shift to the attractive North American market, and we expect the company to generate solid growth in the near term as the North American market recovers.",
    "output": "[Cause] better pricing discipline and a strategic shift to the attractive North American market [Relation] cause [Effect] Ferguson's prospects have improved",
    "gold": "[Cause] better pricing discipline and a strategic shift to the attractive North American market [Relation] cause [Effect] Ferguson's prospects have improved",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Unlike the retail card segment, payment solutions and CareCredit are heavily diversified, reducing partner bargaining power, and do not have significant retailer share arrangement spending.",
    "output": "[Cause] payment solutions and CareCredit are heavily diversified [Relation] cause [Effect] reducing partner bargaining power",
    "gold": "[Cause] payment solutions and CareCredit are heavily diversified [Relation] cause [Effect] reducing partner bargaining power | do not have significant retailer share arrangement spending",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Walgreens may also be impacted by the consolidation of healthcare companies and providers that could influence where prescriptions are filled.",
    "output": "[Cause] Walgreens may also be impacted by the consolidation of healthcare companies and providers [Relation] cause [Effect] influence where prescriptions are filled",
    "gold": "[Cause] Walgreens may also be impacted by the consolidation of healthcare companies and providers [Relation] cause [Effect] influence where prescriptions are filled",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There is risk that policymakers will move retail customers away from gas heating, but we think that's unlikely in the near future given the colder climates where Eversource operates.",
    "output": "[Cause] the colder climates where Eversource operates [Relation] cause [Effect] that's unlikely in the near future",
    "gold": "[Cause] the colder climates where Eversource operates [Relation] prevent [Effect] policymakers will move retail customers away from gas heating",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In recent years, RH has made operational and supply chain changes to improve its operating costs, including adjusting its distribution center footprint and rightsizing the inventory base.",
    "output": "[Cause] RH has made operational and supply chain changes [Relation] enable [Effect] improve its operating costs",
    "gold": "[Cause] RH has made operational and supply chain changes [Relation] enable [Effect] improve its operating costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We established a 2025 EPS estimate of $5.00, resulting in a 4.1% average annual EPS growth rate, near the bottom of Con Ed's new EPS growth target.",
    "output": "[Cause] We established a 2025 EPS estimate of $5.00 [Relation] cause [Effect] a 4.1% average annual EPS growth rate",
    "gold": "[Cause] We established a 2025 EPS estimate of $5.00 [Relation] cause [Effect] a 4.1% average annual EPS growth rate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the longer term, Bio-Rad's success will depend on whether the firm can successfully invest in research and development to maintain diagnostic specializations, and the company is also likely to focus on improving operational efficiency, which lags peers.",
    "output": "[Cause] the firm can successfully invest in research and development to maintain diagnostic specializations [Relation] cause [Effect] Bio-Rad's success",
    "gold": "[Cause] the firm can successfully invest in research and development to maintain diagnostic specializations [Relation] enable [Effect] Bio-Rad's success",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ICE's mortgage technology segment is the result of several acquisitions over the years, most notably the purchase of Ellie Mae in 2020 for $11 billion.",
    "output": "[Cause] several acquisitions over the years [Relation] cause [Effect] ICE's mortgage technology segment",
    "gold": "[Cause] several acquisitions over the years [Relation] cause [Effect] ICE's mortgage technology segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Specifically, all-inclusive services that handle the storage of a customer's belongings from start to finish could capture customers looking for a hands-free way of decluttering.",
    "output": "[Cause] all-inclusive services that handle the storage of a customer's belongings from start to finish [Relation] enable [Effect] capture customers looking for a hands-free way of decluttering",
    "gold": "[Cause] all-inclusive services that handle the storage of a customer's belongings from start to finish [Relation] enable [Effect] capture customers looking for a hands-free way of decluttering",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While investors have been clamoring for greater capital discipline from integrated oils, Exxon's view is it holds a host of high-return projects that can leverage its superior integrated model and thus warrant investment.",
    "output": "[Cause] it holds a host of high-return projects [Relation] enable [Effect] leverage its superior integrated model and thus warrant investment",
    "gold": "[Cause] it holds a host of high-return projects [Relation] enable [Effect] leverage its superior integrated model and thus warrant investment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At a high level, factors that are inherent to its position in a secularly advantaged beverage category, as well as its specific business model, facilitate durable competitive advantages, in our view.",
    "output": "[Cause] factors that are inherent to its position in a secularly advantaged beverage category, as well as its specific business model [Relation] enable [Effect] facilitate durable competitive advantages",
    "gold": "[Cause] factors that are inherent to its position in a secularly advantaged beverage category, as well as its specific business model [Relation] cause [Effect] facilitate durable competitive advantages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Shipping needs have evolved as the supply chain has become global and customer expectations have been reset by the Amazon experience.",
    "output": "[Cause] the supply chain has become global and customer expectations have been reset by the Amazon experience [Relation] cause [Effect] Shipping needs have evolved",
    "gold": "[Cause] the supply chain has become global and customer expectations have been reset by the Amazon experience [Relation] cause [Effect] Shipping needs have evolved",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Following a down fiscal 2019 due to a deceleration in 3D NAND, DRAM, and display spending, we expect the firm to grow revenue at a 12% CAGR through fiscal 2025.",
    "output": "[Cause] a deceleration in 3D NAND, DRAM, and display spending [Relation] cause [Effect] a down fiscal 2019",
    "gold": "[Cause] down fiscal 2019 [Relation] cause [Effect]  the firm to grow revenue at a 12% CAGR through fiscal 2025",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Hubbell's large suite of products enables it to generate sufficient volumes for scale efficiencies, particularly in its supply chain through activities like automation as in the firm's Missouri operation, which automates pick and pack as well as welding operations.",
    "output": "[Cause] Hubbell's large suite of products [Relation] enable [Effect] generate sufficient volumes for scale efficiencies",
    "gold": "[Cause]  in its supply chain through activities like automation as in the firm's Missouri operation [Relation] enable [Effect] automates pick and pack as well as welding operations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Shell's primary ESG risk stems from carbon emissions in its operations and use of its products and emissions, effluents and waste generated in operations such as oil spills.",
    "output": "[Cause] carbon emissions in its operations and use of its products and emissions, effluents and waste generated in operations such as oil spills [Relation] cause [Effect] Shell's primary ESG risk",
    "gold": "[Cause] carbon emissions in its operations and use of its products and emissions, effluents and waste generated in operations such as oil spills [Relation] cause [Effect] Shell's primary ESG risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Usually, x86-based platforms have more powerful CPUs and GPUs with many compute cores and memory, which are important factors when trying to maximize performance (including framerate and graphical fidelity).",
    "output": "[Cause] x86-based platforms have more powerful CPUs and GPUs with many compute cores and memory [Relation] enable [Effect] important factors when trying to maximize performance (including framerate and graphical fidelity)",
    "gold": "[Cause] x86-based platforms have more powerful CPUs and GPUs with many compute cores and memory [Relation] enable [Effect] important factors when trying to maximize performance (including framerate and graphical fidelity)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, long-term price depreciation would expose the company to weakening returns on capital, as new projects coming on line would be unlikely to generate their projected economic results.",
    "output": "[Cause] new projects coming on line would be unlikely to generate their projected economic results [Relation] cause [Effect] long-term price depreciation would expose the company to weakening returns on capital",
    "gold": "[Cause] new projects coming on line would be unlikely to generate their projected economic results [Relation] cause [Effect] long-term price depreciation would expose the company to weakening returns on capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Tractor Supply's target demographic is fairly affluent, which helps insulate the firm somewhat during a recession (generating same-store sales of 1% in 2008, negative 1% in 2009, and 23% in 2020).",
    "output": "[Cause] Tractor Supply's target demographic is fairly affluent [Relation] enable [Effect] insulate the firm somewhat during a recession",
    "gold": "[Cause] Tractor Supply's target demographic is fairly affluent [Relation] cause [Effect]  insulate the firm somewhat during a recession",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2019, Equinix generated 22% of its revenue from interconnections, which result from the company charging a fee to directly connect enterprises to each other within data centers or across Equinix data centers.",
    "output": "[Cause] the company charging a fee to directly connect enterprises to each other within data centers or across Equinix data centers [Relation] cause [Effect] Equinix generated 22% of its revenue from interconnections",
    "gold": "[Cause] the company charging a fee to directly connect enterprises to each other within data centers or across Equinix data centers [Relation] cause [Effect] Equinix generated 22% of its revenue from interconnections",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the inclusion of CA Technologies and Symantec, as well as a rebound in wireless revenue thanks to new 5G devices that contain higher RF content from Broadcom, we assume fiscal 2021 revenue growth of about 10%.",
    "output": "[Cause] the inclusion of CA Technologies and Symantec, as well as a rebound in wireless revenue [Relation] cause [Effect] new 5G devices that contain higher RF content from Broadcom",
    "gold": "[Cause] new 5G devices that contain higher RF content from Broadcom [Relation] cause [Effect] a rebound in wireless revenue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With the inclusion of CA Technologies and Symantec, as well as a rebound in wireless revenue thanks to new 5G devices that contain higher RF content from Broadcom, we assume fiscal 2021 revenue growth of about 10%.",
    "output": "[Cause] new 5G devices that contain higher RF content from Broadcom [Relation] cause [Effect] a rebound in wireless revenue",
    "gold": "[Cause] the inclusion of CA Technologies and Symantec, as well as a rebound in wireless revenue [Relation] cause [Effect] fiscal 2021 revenue growth of about 10%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, much of the value in Waters stems from the intellectual property of its employee base, which creates an ESG risk if there is ever a brain drain at the firm.",
    "output": "[Cause] there is ever a brain drain at the firm [Relation] cause [Effect] creates an ESG risk",
    "gold": "[Cause] there is ever a brain drain at the firm [Relation] cause [Effect] creates an ESG risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A firm can carve out an operating cost advantage if it has a large concentration of assets, but there is no barrier to multiple firms achieving this.",
    "output": "[Cause] it has a large concentration of assets [Relation] enable [Effect] A firm can carve out an operating cost advantage",
    "gold": "[Cause] it has a large concentration of assets [Relation] enable [Effect] A firm can carve out an operating cost advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast the segment's operating income to drop to JPY 300 billion (fiscal 2021) from JPY 360 billion (fiscal 2020), as the number of games sold in 2020 was boosted by stay-home measures implemented in various countries.",
    "output": "[Cause] the number of games sold in 2020 was boosted by stay-home measures implemented in various countries [Relation] cause [Effect] the segment's operating income to drop to JPY 300 billion (fiscal 2021) from JPY 360 billion (fiscal 2020)",
    "gold": "[Cause] the number of games sold in 2020 was boosted by stay-home measures implemented in various countries [Relation] cause [Effect] the segment's operating income to drop to JPY 300 billion (fiscal 2021) from JPY 360 billion (fiscal 2020)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Service attachment rates for OEMs of imaging equipment are high for the same reason: minimizing equipment failures with hospitals preferring to rely on OEMs for equipment maintenance.",
    "output": "[Cause] minimizing equipment failures with hospitals preferring to rely on OEMs for equipment maintenance [Relation] cause [Effect] Service attachment rates for OEMs of imaging equipment are high",
    "gold": "[Cause] minimizing equipment failures with hospitals preferring to rely on OEMs for equipment maintenance [Relation] cause [Effect] Service attachment rates for OEMs of imaging equipment are high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do not believe that lower input costs account for the improvement as cotton and other raw material prices increased in this period.",
    "output": "[Cause] cotton and other raw material prices increased in this period [Relation] cause [Effect] We do not believe that lower input costs account for the improvement",
    "gold": "[Cause]  cotton and other raw material prices increased in this period [Relation] cause [Effect] We do not believe that lower input costs account for the improvement",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, the most significant ESG risk surrounds safety issues related to using powersports products, resulting from persistent recalls (which can weigh on the firm's ability to maintain its brand equity).",
    "output": "[Cause] persistent recalls [Relation] cause [Effect] weigh on the firm's ability to maintain its brand equity",
    "gold": "[Cause]  persistent recalls (which can weigh on the firm's ability to maintain its brand equity) [Relation] cause [Effect] the most significant ESG risk surrounds safety issues related to using powersports products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Flexible capacity access is an increasingly sought-after attribute (for shippers) because of the threat of logistics-related disruption--long supply chains and tight inventory levels make interruption more likely when faced with capacity shortages, intermittent port delays, and shifting import/export regulation.",
    "output": "[Cause] long supply chains and tight inventory levels [Relation] cause [Effect] interruption more likely when faced with capacity shortages, intermittent port delays, and shifting import/export regulation",
    "gold": "[Cause] faced with capacity shortages, intermittent port delays, and shifting import/export regulation [Relation] enable [Effect] interruption more likely",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also anticipate that price/mix will lend nontrivial contributions to the sales trajectory, as super- and ultra-premium offerings grow within the overall mix and the company takes price in certain markets.",
    "output": "[Cause] super- and ultra-premium offerings grow within the overall mix and the company takes price in certain markets [Relation] cause [Effect] price/mix will lend nontrivial contributions to the sales trajectory",
    "gold": "[Cause] super- and ultra-premium offerings grow within the overall mix and the company takes price in certain markets [Relation] cause [Effect] price/mix will lend nontrivial contributions to the sales trajectory",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Using a bevy of product care customer data, Sealed Air continuously works with customers to reduce package size to save on freight costs while looking to improve fulfillment velocity for rising volume.",
    "output": "[Cause] Sealed Air continuously works with customers to reduce package size [Relation] enable [Effect] save on freight costs while looking to improve fulfillment velocity for rising volume",
    "gold": "[Cause] Using a bevy of product care customer data, Sealed Air continuously works with customers [Relation] enable [Effect] reduce package size to save on freight costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect the current level of supply to be absorbed by demand growth and help moderate the market but recognize that increased new supply will pressure operations and asset values.",
    "output": "[Cause] the current level of supply to be absorbed by demand growth [Relation] enable [Effect] help moderate the market",
    "gold": "[Cause] recognize that increased new supply [Relation] cause [Effect] will pressure operations and asset values",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect the current level of supply to be absorbed by demand growth and help moderate the market but recognize that increased new supply will pressure operations and asset values.",
    "output": "[Cause] increased new supply [Relation] cause [Effect] pressure operations and asset values",
    "gold": "[Cause] We expect the current level of supply to be absorbed by demand growth [Relation] enable [Effect] help moderate the market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We don't think Huaneng has a sustainable low-cost advantage, as it doesn't own its own coal mines, and most of the coal used for its power plants is purchased at market rates.",
    "output": "[Cause] it doesn't own its own coal mines, and most of the coal used for its power plants is purchased at market rates [Relation] cause [Effect] We don't think Huaneng has a sustainable low-cost advantage",
    "gold": "[Cause] it doesn't own its own coal mines, and most of the coal used for its power plants is purchased at market rates [Relation] cause [Effect] We don't think Huaneng has a sustainable low-cost advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This segment benefits from annually adjusted tariff rate increases tied to PPI, but any reduction in fuel demand could pressure earnings.",
    "output": "[Cause] any reduction in fuel demand [Relation] cause [Effect] pressure earnings",
    "gold": "[Cause] any reduction in fuel demand [Relation] cause [Effect] pressure earnings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Operational risks involve potential difficulty turning a profit because of high sales expenses and research and development costs to keep up with competition.",
    "output": "[Cause] high sales expenses and research and development costs to keep up with competition [Relation] cause [Effect] Operational risks involve potential difficulty turning a profit",
    "gold": "[Cause]  high sales expenses and research and development costs to keep up with competition [Relation] cause [Effect] Operational risks involve potential difficulty turning a profit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With thousands of partners, including Avaya and AT&T, among others, the firm has been able to expand within the enterprise and international markets over time.",
    "output": "[Cause] thousands of partners, including Avaya and AT&T, among others [Relation] enable [Effect] the firm has been able to expand within the enterprise and international markets over time",
    "gold": "[Cause] thousands of partners, including Avaya and AT&T, among others [Relation] enable [Effect] the firm has been able to expand within the enterprise and international markets over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Hilton's intangible brand asset and switching cost advantage to strengthen, driven by new hotel brands and its highly rated loyalty program.",
    "output": "[Cause] new hotel brands and its highly rated loyalty program [Relation] cause [Effect] Hilton's intangible brand asset and switching cost advantage to strengthen",
    "gold": "[Cause] new hotel brands and its highly rated loyalty program [Relation] enable [Effect]  Hilton's intangible brand asset and switching cost advantage to strengthen",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, Carrier's primary environmental, social, and governance risks include environmental and social impact of the firm's products and services and product governance.",
    "output": "[Cause] environmental and social impact of the firm's products and services and product governance [Relation] cause [Effect] Carrier's primary environmental, social, and governance risks",
    "gold": "[Cause] environmental and social impact of the firm's products and services and product governance [Relation] cause [Effect] Carrier's primary environmental, social, and governance risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If Verizon's services are deemed insufficient or overpriced, especially if in response to weak competition, regulators or politicians could step in.",
    "output": "[Cause] If Verizon's services are deemed insufficient or overpriced, especially if in response to weak competition [Relation] cause [Effect] regulators or politicians could step in",
    "gold": "[Cause] If Verizon's services are deemed insufficient or overpriced, especially if in response to weak competition [Relation] cause [Effect] regulators or politicians could step in",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This strategy has led to a partnership base that is weighted toward mall-based retailers, which are in decline due to increased online shopping.",
    "output": "[Cause] increased online shopping [Relation] cause [Effect] increased online shopping",
    "gold": "[Cause] increased online shopping [Relation] cause [Effect] mall-based retailers | in decline",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This strategy has led to a partnership base that is weighted toward mall-based retailers, which are in decline due to increased online shopping.",
    "output": "[Cause] increased online shopping [Relation] cause [Effect] are in decline",
    "gold": "[Cause] This strategy [Relation] enable [Effect] a partnership base that is weighted toward mall-based retailers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Its chemical segment is also moving into bio/recycled products to reduce exposure to oil price volatility and improve returns while reducing carbon intensity.",
    "output": "[Cause] Its chemical segment is also moving into bio/recycled products [Relation] enable [Effect] reduce exposure to oil price volatility and improve returns while reducing carbon intensity",
    "gold": "[Cause] Its chemical segment is also moving into bio/recycled products [Relation] enable [Effect]  reduce exposure to oil price volatility and improve returns while reducing carbon intensity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customers such as GM, Boeing, and Caterpillar have strict quality standards due to the regulatory, durability, and safety standards within these industries, and Sensata has a track record of meeting these standards and delivering high-quality products into \"\"\"\"mission-critical\"\"\"\" applications.",
    "output": "[Cause] the regulatory, durability, and safety standards within these industries [Relation] cause [Effect] Customers such as GM, Boeing, and Caterpillar have strict quality standards",
    "gold": "[Cause] the regulatory, durability, and safety standards within these industries [Relation] enable [Effect] Customers such as GM, Boeing, and Caterpillar have strict quality standards",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Airlines prefer to enter into full-service contracts based on flight hours with the original equipment manufacturers, or OEMs, as it protects the residual value of the engine; ensures portability across regulatory jurisdictions; and minimizes the probability of engine failure.",
    "output": "[Cause] it protects the residual value of the engine; ensures portability across regulatory jurisdictions; and minimizes the probability of engine failure [Relation] cause [Effect] Airlines prefer to enter into full-service contracts based on flight hours with the original equipment manufacturers, or OEMs",
    "gold": "[Cause]  it protects the residual value of the engine; ensures portability across regulatory jurisdictions; and minimizes the probability of engine failure [Relation] cause [Effect] Airlines prefer to enter into full-service contracts based on flight hours with the original equipment manufacturers, or OEMs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we don't believe a decrease in R&D spending or outsourcing is likely in the near term, all CROs are left exposed to these risks if biopharma funding is constrained if there are changes in the drug-approval regulatory landscape or if the biopharma industry faces other macroeconomic headwinds.",
    "output": "[Cause] biopharma funding is constrained if there are changes in the drug-approval regulatory landscape or if the biopharma industry faces other macroeconomic headwinds [Relation] cause [Effect] all CROs are left exposed to these risks",
    "gold": "[Cause] biopharma funding is constrained if there are changes in the drug-approval regulatory landscape or if the biopharma industry faces other macroeconomic headwinds [Relation] enable [Effect] all CROs are left exposed to these risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect aggregates shipment volume to grow to roughly 237 million tons within the five-year explicit forecast period of our discounted cash flow model, due to a continued recovery in construction demand and contributions from Bluegrass and Tiller.",
    "output": "[Cause] a continued recovery in construction demand and contributions from Bluegrass and Tiller [Relation] cause [Effect] aggregates shipment volume to grow to roughly 237 million tons within the five-year explicit forecast period of our discounted cash flow model",
    "gold": "[Cause] a continued recovery in construction demand and contributions from Bluegrass and Tiller [Relation] enable [Effect] aggregates shipment volume to grow to roughly 237 million tons within the five-year explicit forecast period of our discounted cash flow model",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This business may be the biggest beneficiary of increasing regulations as Moody's can cross-sell sticky solutions that aid in compliance.",
    "output": "[Cause] Moody's can cross-sell sticky solutions that aid in compliance [Relation] cause [Effect] This business may be the biggest beneficiary of increasing regulations",
    "gold": "[Cause] Moody's can cross-sell sticky solutions that aid in compliance [Relation] cause [Effect] This business may be the biggest beneficiary of increasing regulations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast assets under management growing at a rate of around 4% over the next five years from asset price appreciation and the shift to wealth management fee-based assets from commission-based assets.",
    "output": "[Cause] asset price appreciation and the shift to wealth management fee-based assets from commission-based assets [Relation] cause [Effect] assets under management growing at a rate of around 4% over the next five years",
    "gold": "[Cause] asset price appreciation and the shift to wealth management fee-based assets from commission-based assets [Relation] cause [Effect] assets under management growing at a rate of around 4% over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm is plans to form a joint venture with a third-party that will supply capital to allow the fixed-line buildout to accelerate, but we don't expect TIM will catch rivals, at least not economically.",
    "output": "[Cause] The firm is plans to form a joint venture with a third-party that will supply capital [Relation] enable [Effect] the fixed-line buildout to accelerate",
    "gold": "[Cause] The firm is plans to form a joint venture with a third-party that will supply capital [Relation] enable [Effect] the fixed-line buildout to accelerate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From its vast NGL system, Enterprise's connection with every steam cracker on the Gulf Coast, its sold-out PDH splitter (and its second PDH plant is on the way), and the upgraded isobutylene unit make it adept at converting low-cost NGLs into higher value-added olefins.",
    "output": "[Cause] Enterprise's connection with every steam cracker on the Gulf Coast, its sold-out PDH splitter (and its second PDH plant is on the way), and the upgraded isobutylene unit [Relation] enable [Effect] it adept at converting low-cost NGLs into higher value-added olefins",
    "gold": "[Cause] From its vast NGL system, Enterprise's connection with every steam cracker on the Gulf Coast [Relation] cause [Effect] converting low-cost NGLs into higher value-added olefins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Despite competition from Shaw, we think Telus' best-in-class wireless network will allow it to maintain its wireless market share, but we think competition and the transition to unlimited plans will weigh on ARPU growth and margin expansion opportunities after a near-term boost spurred by the re-opening of the economy.",
    "output": "[Cause] competition from Shaw [Relation] cause [Effect] we think Telus' best-in-class wireless network will allow it to maintain its wireless market share",
    "gold": "[Cause]  Telus' best-in-class wireless network [Relation] enable [Effect]  maintain its wireless market share",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Despite competition from Shaw, we think Telus' best-in-class wireless network will allow it to maintain its wireless market share, but we think competition and the transition to unlimited plans will weigh on ARPU growth and margin expansion opportunities after a near-term boost spurred by the re-opening of the economy.",
    "output": "[Cause] competition and the transition to unlimited plans [Relation] prevent [Effect] ARPU growth and margin expansion opportunities after a near-term boost spurred by the re-opening of the economy",
    "gold": "[Cause] competition and the transition to unlimited plans [Relation] cause [Effect] weigh on ARPU growth and margin expansion opportunities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Despite competition from Shaw, we think Telus' best-in-class wireless network will allow it to maintain its wireless market share, but we think competition and the transition to unlimited plans will weigh on ARPU growth and margin expansion opportunities after a near-term boost spurred by the re-opening of the economy.",
    "output": "[Cause] competition and the transition to unlimited plans [Relation] prevent [Effect] ARPU growth and margin expansion opportunities",
    "gold": "[Cause] the re-opening of the economy [Relation] cause [Effect]  a near-term boost",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If the public option creates a scenario where a significant portion of the employer-based insurance population switches to government-sponsored plans, though, Anthem's commercial business may suffer.",
    "output": "[Cause] the public option creates a scenario [Relation] cause [Effect] Anthem's commercial business may suffer",
    "gold": "[Cause] the public option creates a scenario [Relation] enable [Effect] a significant portion of the employer-based insurance population switches to government-sponsored plans",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "BAE supplies mission-critical products to defense departments globally and any cost over-runs or delays in project execution could result in billion of dollars in costs.",
    "output": "[Cause] any cost over-runs or delays in project execution [Relation] cause [Effect] billion of dollars in costs",
    "gold": "[Cause] any cost over-runs or delays in project execution [Relation] cause [Effect] billion of dollars in costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do not expect the same stellar returns from its STACK, Powder River Basin, or Eagle Ford assets, and its Bakken footprint, to be acquired with WPX Energy, is too small to move the needle on returns at the firm level.",
    "output": "[Cause] its Bakken footprint, to be acquired with WPX Energy, is too small [Relation] prevent [Effect] move the needle on returns at the firm level",
    "gold": "[Cause]  its Bakken footprint, to be acquired with WPX Energy, is too small to move the needle on returns at the firm level [Relation] cause [Effect] We do not expect the same stellar returns from its STACK, Powder River Basin, or Eagle Ford assets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With customers increasingly starting product searches on digital properties owned by either Amazon or (particularly for non-Prime members) Walmart, we expect Target will have to compete on the two giants' terms.",
    "output": "[Cause] customers increasingly starting product searches on digital properties owned by either Amazon or (particularly for non-Prime members) Walmart [Relation] cause [Effect] Target will have to compete on the two giants' terms",
    "gold": "[Cause] customers increasingly starting product searches on digital properties owned by either Amazon or (particularly for non-Prime members) Walmart [Relation] cause [Effect] Target will have to compete on the two giants' terms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Both SG&A and R&D margins improved considerably in 2018-19 to accommodate the pipeline and expansion into new therapeutic areas.",
    "output": "[Cause] Both SG&A and R&D margins improved considerably in 2018-19 [Relation] enable [Effect] accommodate the pipeline and expansion into new therapeutic areas",
    "gold": "[Cause] Both SG&A and R&D margins improved considerably in 2018-19 [Relation] enable [Effect] accommodate the pipeline and expansion into new therapeutic areas",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The portfolio should maintain its relative quality advantage over time as the company regularly makes capital improvements and redevelops its portfolio to keep it competitive.",
    "output": "[Cause] the company regularly makes capital improvements and redevelops its portfolio to keep it competitive [Relation] cause [Effect] The portfolio should maintain its relative quality advantage over time",
    "gold": "[Cause] the company regularly makes capital improvements and redevelops its portfolio to keep it competitive [Relation] cause [Effect] The portfolio should maintain its relative quality advantage over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Eversource's electric, gas, and water utilities will require $3.5 billion of capital investment annually in 2021-25 to serve customer growth, integrate new energy sources, and strengthen the grid.",
    "output": "[Cause] Eversource's electric, gas, and water utilities will require $3.5 billion of capital investment annually in 2021-25 [Relation] enable [Effect] serve customer growth, integrate new energy sources, and strengthen the grid",
    "gold": "[Cause] integrate new energy sources [Relation] cause [Effect] water utilities will require $3.5 billion of capital investment annually in 2021-25",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Eversource's electric, gas, and water utilities will require $3.5 billion of capital investment annually in 2021-25 to serve customer growth, integrate new energy sources, and strengthen the grid.",
    "output": "[Cause] Eversource's electric, gas, and water utilities will require $3.5 billion of capital investment annually in 2021-25 [Relation] enable [Effect] serve customer growth, integrate new energy sources, and strengthen the grid",
    "gold": "[Cause] strengthen the grid [Relation] cause [Effect] water utilities will require $3.5 billion of capital investment annually in 2021-25",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If disposable income remains depressed throughout developed markets, margins could remain lower for longer in Aptar's food and beverage and beauty and home categories.",
    "output": "[Cause] disposable income remains depressed throughout developed markets [Relation] cause [Effect] margins could remain lower for longer in Aptar's food and beverage and beauty and home categories",
    "gold": "[Cause] disposable income remains depressed throughout developed markets [Relation] cause [Effect] margins could remain lower for longer in Aptar's food and beverage and beauty and home categories",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over time, as artificial intelligence has improved and the usages proliferated, the growth remained more robust than what was initially expected by industry observers.",
    "output": "[Cause] artificial intelligence has improved and the usages proliferated [Relation] cause [Effect] the growth remained more robust than what was initially expected by industry observers",
    "gold": "[Cause] artificial intelligence has improved and the usages proliferated [Relation] enable [Effect] the growth remained more robust than what was initially expected by industry observers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, Waters' growth has underperformed expectations recently because of end-market challenges, including weakness related to COVID-19 in 2020 and competitive pressures from the likes of Agilent, which has stepped up its LC-MS product offerings.",
    "output": "[Cause] weakness related to COVID-19 in 2020 and competitive pressures from the likes of Agilent [Relation] cause [Effect] Waters' growth has underperformed expectations recently",
    "gold": "[Cause]  Waters' growth has underperformed expectations recently because of end-market challenges, including weakness related to COVID-19 in 2020 and competitive pressures from the likes of Agilent, [Relation] cause [Effect] which has stepped up its LC-MS product offerings.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Revenue fell 7% in 2020 on fewer carloads, falling fuel surcharges and mix, though core pricing remained ahead of cost inflation and top-line declines eased in the second half.",
    "output": "[Cause] fewer carloads, falling fuel surcharges and mix [Relation] cause [Effect] Revenue fell 7% in 2020",
    "gold": "[Cause] fewer carloads, falling fuel surcharges and mix [Relation] cause [Effect] Revenue fell 7% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nice's success with stickier customers, like large enterprises in the Fortune 100, and high retention rates (over 90%, we believe) lead us to believe that Nice's applications benefit from customer switching costs once their solutions are deployed.",
    "output": "[Cause] Nice's success with stickier customers, like large enterprises in the Fortune 100, and high retention rates (over 90%, we believe) [Relation] cause [Effect] Nice's applications benefit from customer switching costs once their solutions are deployed",
    "gold": "[Cause] Nice's applications benefit from customer switching costs once their solutions are deployed [Relation] cause [Effect] Nice's success with stickier customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Despite its debt burden, which Carrier is diligently working down, the firm now has a narrowed strategic focus and no longer must fight for capital from an increasingly aerospace-focused parent company.",
    "output": "[Cause] the firm now has a narrowed strategic focus [Relation] cause [Effect] no longer must fight for capital from an increasingly aerospace-focused parent company",
    "gold": "[Cause] the firm now has a narrowed strategic focus [Relation] enable [Effect] no longer must fight for capital from an increasingly aerospace-focused parent company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A digital agency takes a more holistic view of marketing than a traditional agency, as it looks to bring more integrated product experiences for customers, which often require a heavy lift on the technology side.",
    "output": "[Cause] it looks to bring more integrated product experiences for customers [Relation] cause [Effect] A digital agency takes a more holistic view of marketing than a traditional agency",
    "gold": "[Cause]  it looks to bring more integrated product experiences for customers [Relation] cause [Effect] A digital agency takes a more holistic view of marketing than a traditional agency",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A digital agency takes a more holistic view of marketing than a traditional agency, as it looks to bring more integrated product experiences for customers, which often require a heavy lift on the technology side.",
    "output": "[Cause] it looks to bring more integrated product experiences for customers [Relation] cause [Effect] require a heavy lift on the technology side",
    "gold": "[Cause]  it looks to bring more integrated product experiences for customers [Relation] cause [Effect] require a heavy lift on the technology side",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, one can observe Eaton's technical expertise in compact circuit protection devices in its electrical sector, which has wide applications as the world increasingly transitions toward electric vehicles.",
    "output": "[Cause] the world increasingly transitions toward electric vehicles [Relation] cause [Effect] Eaton's technical expertise in compact circuit protection devices in its electrical sector, which has wide applications",
    "gold": "[Cause] Eaton's technical expertise in compact circuit protection devices in its electrical sector [Relation] cause [Effect]  wide applications as the world increasingly transitions toward electric vehicles",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Meanwhile, Valero has invested in logistics assets and processing capacity to capture discounts associated with domestic light crude production.",
    "output": "[Cause] Valero has invested in logistics assets and processing capacity [Relation] enable [Effect] capture discounts associated with domestic light crude production",
    "gold": "[Cause] Valero has invested in logistics assets and processing capacity [Relation] cause [Effect] capture discounts associated with domestic light crude production",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Payment processing of any type is highly scalable, as once a payment platform is established, there is little incremental cost to additional transactions.",
    "output": "[Cause] once a payment platform is established, there is little incremental cost to additional transactions [Relation] cause [Effect] Payment processing of any type is highly scalable",
    "gold": "[Cause] once a payment platform is established [Relation] cause [Effect]  little incremental cost to additional transactions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe spending needs will remain high in the near term as Equinix continues expanding cabinet capacity and moves to own more of its data centers.",
    "output": "[Cause] Equinix continues expanding cabinet capacity and moves to own more of its data centers [Relation] cause [Effect] spending needs will remain high in the near term",
    "gold": "[Cause]  Equinix continues expanding cabinet capacity and moves to own more of its data centers [Relation] cause [Effect]  spending needs will remain high in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "New production facilities can take three to six years to mature after the initial investment. As a result, demand expected at the time capital was committed may not be there when the production facility is complete, which could impair financial results for several years.",
    "output": "[Cause] New production facilities can take three to six years to mature after the initial investment [Relation] cause [Effect] demand expected at the time capital was committed may not be there when the production facility is complete, which could impair financial results for several years",
    "gold": "[Cause] New production facilities can take three to six years to mature after the initial investment [Relation] cause [Effect] demand expected at the time capital was committed may not be there when the production facility is complete, which could impair financial results for several years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ASML and its peers have formed strong research partnerships with customers and align their product development activities with customer process technology roadmaps, which could create potential IP risk.",
    "output": "[Cause] ASML and its peers have formed strong research partnerships with customers and align their product development activities with customer process technology roadmaps [Relation] cause [Effect] create potential IP risk",
    "gold": "[Cause] ASML and its peers have formed strong research partnerships with customers and align their product development activities with customer process technology roadmaps [Relation] cause [Effect] create potential IP risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Yet, a change to the ease of accessing illegal supply could impact pricing power and profitability.",
    "output": "[Cause] a change to the ease of accessing illegal supply [Relation] cause [Effect] impact pricing power and profitability",
    "gold": "[Cause] a change to the ease of accessing illegal supply [Relation] cause [Effect]  impact pricing power and profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The proliferation of online reviews could help technicians close any knowledge gap as they're comparing which products to buy online.",
    "output": "[Cause] they're comparing which products to buy online [Relation] cause [Effect] The proliferation of online reviews could help technicians close any knowledge gap",
    "gold": "[Cause] The proliferation of online reviews [Relation] cause [Effect] help technicians close any knowledge gap as they're comparing which products to buy online",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe it is this self-reinforcing combination of sources of Campbell's competitive edge that has created high barriers to profitable entry, shielding vendors that are entrenched in retailers' supply chains.",
    "output": "[Cause] this self-reinforcing combination of sources of Campbell's competitive edge [Relation] cause [Effect] created high barriers to profitable entry, shielding vendors that are entrenched in retailers' supply chains",
    "gold": "[Cause] this self-reinforcing combination of sources of Campbell's competitive edge [Relation] enable [Effect] created high barriers to profitable entry, shielding vendors that are entrenched in retailers' supply chains",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In fiscal 2021, we expect total revenue to grow 1%, owing to a continued recovery in retail and manufacturing demand, a vertical that bore the brunt of the pandemic-induced demand slowdowns in 2020.",
    "output": "[Cause] a continued recovery in retail and manufacturing demand [Relation] cause [Effect] total revenue to grow 1%",
    "gold": "[Cause]  a continued recovery in retail and manufacturing demand [Relation] cause [Effect] total revenue to grow 1%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, the company's powerful distribution network sets up the company as a strong partner for smaller drug companies that lack Pfizer's resources.",
    "output": "[Cause] the company's powerful distribution network [Relation] enable [Effect] the company as a strong partner for smaller drug companies that lack Pfizer's resources",
    "gold": "[Cause] a strong partner for smaller drug companies that lack Pfizer's resources [Relation] cause [Effect] the company's powerful distribution network sets up the company",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the stickiness of this consumer is helped by the company's access to more than 12,000 suppliers and 18 million products, offering the endless aisle to consumers who might be looking for something specific.",
    "output": "[Cause] the company's access to more than 12,000 suppliers and 18 million products [Relation] enable [Effect] offering the endless aisle to consumers who might be looking for something specific",
    "gold": "[Cause] the company's access to more than 12,000 suppliers and 18 million products [Relation] cause [Effect] the stickiness of this consume",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We have seen a gradual resumption of growth in patient traffic, but if unfavorable macro conditions arise, LabCorp's volume could drop again.",
    "output": "[Cause] unfavorable macro conditions arise [Relation] cause [Effect] LabCorp's volume could drop again",
    "gold": "[Cause] unfavorable macro conditions arise [Relation] cause [Effect] LabCorp's volume could drop again",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect margins to expand as the high-margin Celgene drugs are folded into Bristol's portfolio, but the high royalty rate paid on Eliquis to Pfizer will weigh on gross margins for the firm.",
    "output": "[Cause] the high royalty rate paid on Eliquis to Pfizer [Relation] prevent [Effect] gross margins for the firm",
    "gold": "[Cause]  the high royalty rate paid on Eliquis to Pfizer [Relation] prevent [Effect] gross margins for the firm",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2020, the coronavirus pandemic caused another oil price crash which we estimate will result in a negative cumulative economic profit during the next five years even as we continue to assume oil prices recover to $60/bbl and that the improvement in BP's cost structure holds.",
    "output": "[Cause] the coronavirus pandemic [Relation] cause [Effect] another oil price crash",
    "gold": "[Cause] the coronavirus pandemic caused another oil price crash which we estimate [Relation] enable [Effect] result in a negative cumulative economic profit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Primarily through margin improvement, we expect adjusted EPS growth (8%) to be materially higher than the company's revenue growth (3%) through 2025 on a compound annual basis.",
    "output": "[Cause] margin improvement [Relation] enable [Effect] adjusted EPS growth (8%) to be materially higher than the company's revenue growth (3%) through 2025 on a compound annual basis",
    "gold": "[Cause] margin improvement [Relation] cause [Effect] adjusted EPS growth (8%) to be materially higher than the company's revenue growth (3%) through 2025 on a compound annual basis",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, brake pads use molybdenum as a lubricant to reduce wear and tear as well as noise from breaking.",
    "output": "[Cause] brake pads use molybdenum as a lubricant [Relation] enable [Effect] reduce wear and tear as well as noise from breaking",
    "gold": "[Cause]  brake pads use molybdenum as a lubricant [Relation] enable [Effect] reduce wear and tear as well as noise from breaking",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In an industry characterized by thin margins, users are obviously searching for ways to wring even modest improvements to operations out of its facilities, given a price tag of billions of dollars for a new oil refinery.",
    "output": "[Cause] a price tag of billions of dollars for a new oil refinery [Relation] cause [Effect] users are obviously searching for ways to wring even modest improvements to operations out of its facilities",
    "gold": "[Cause] users are obviously searching for ways [Relation] enable [Effect] wring even modest improvements to operations out of its facilities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Activewear (31% of 2020 sales) suffered a large (36%) sales decline in 2020 due to the virus and the loss of the C9 business at Target, but we believe it has good growth prospects, reflecting geographic and product expansion plans for Champion.",
    "output": "[Cause] the virus and the loss of the C9 business at Target [Relation] cause [Effect] Activewear (31% of 2020 sales) suffered a large (36%) sales decline in 2020",
    "gold": "[Cause] the virus and the loss of the C9 business at Target [Relation] cause [Effect] Activewear (31% of 2020 sales) suffered a large (36%) sales decline in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see switching costs in the Canadian system being driven by a tightly regulated oligopolistic market structure, which limits excess competition and stabilizes product pricing, giving customers less incentive to switch banks.",
    "output": "[Cause] switching costs in the Canadian system being driven by a tightly regulated oligopolistic market structure [Relation] cause [Effect] limits excess competition and stabilizes product pricing",
    "gold": "[Cause] a tightly regulated oligopolistic market structure [Relation] cause [Effect] switching costs in the Canadian system",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We see switching costs in the Canadian system being driven by a tightly regulated oligopolistic market structure, which limits excess competition and stabilizes product pricing, giving customers less incentive to switch banks.",
    "output": "[Cause] switching costs in the Canadian system being driven by a tightly regulated oligopolistic market structure [Relation] cause [Effect] stabilizes product pricing, giving customers less incentive to switch banks",
    "gold": "[Cause] switching costs in the Canadian system [Relation] prevent [Effect] excess competition",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Electronic Gaming & Multimedia Its portfolio of widely successful franchises allows the firm to monetize its intellectual property year after year by delivering content via sequels, expansion packs, downloadable content, or DLC, and toys, exemplified by the decade-old World of Warcraft franchise and the annual versions of Call of Duty. These franchises can also spawn games that move the company into new arenas such as F2P (Hearthstone from WoW) and China (Call of Duty Online).",
    "output": "[Cause] Electronic Gaming & Multimedia Its portfolio of widely successful franchises [Relation] enable [Effect] the firm to monetize its intellectual property year after year by delivering content via sequels, expansion packs, downloadable content, or DLC, and toys, exemplified by the decade-old World of Warcraft franchise and the annual versions of Call of Duty",
    "gold": "[Cause] Electronic Gaming & Multimedia Its portfolio of widely successful franchises allows the firm to monetize its intellectual property year after year by delivering content via sequels, expansion packs, downloadable content, or DLC, and toys, exemplified by the decade-old World of Warcraft franchise and the annual versions of Call of Duty [Relation] enable [Effect]  spawn games that move the company into new arenas such as F2P (Hearthstone from WoW) and China (Call of Duty Online)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As pay-TV providers continue to lose subscribers to cord-cutting, Sinclair may experience more 'blackouts' as distributors may not be willing or able to afford increasingly high fees to rebroadcast its content.",
    "output": "[Cause] distributors may not be willing or able to afford increasingly high fees to rebroadcast its content [Relation] cause [Effect] Sinclair may experience more 'blackouts'",
    "gold": "[Cause] distributors may not be willing or able to afford increasingly high fees to rebroadcast its content [Relation] cause [Effect] Sinclair may experience more 'blackouts'",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As more consumers use Maps, more data regarding traffic, commuting tendencies, and so forth is gathered, helping Google generate more accurate results (in terms of locations, travel times, and route suggestions).",
    "output": "[Cause] more consumers use Maps [Relation] cause [Effect] more data regarding traffic, commuting tendencies, and so forth is gathered",
    "gold": "[Cause] more consumers use Maps [Relation] enable [Effect] more data regarding traffic, commuting tendencies, and so forth is gathered",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "NXP and its analog/mixed-signal chipmaking peers tend to profit from these high switching costs by having lower ongoing R&amp;D and capital expenditure investments than digital chipmaking leaders like Intel and Qualcomm, which helps contribute to healthy returns on capital for shareholders.",
    "output": "[Cause] NXP and its analog/mixed-signal chipmaking peers tend to profit from these high switching costs by having lower ongoing R&amp;D and capital expenditure investments than digital chipmaking leaders like Intel and Qualcomm [Relation] enable [Effect] contribute to healthy returns on capital for shareholders",
    "gold": "[Cause] NXP and its analog/mixed-signal chipmaking peers tend to profit from these high switching costs by having lower ongoing R&amp;D and capital expenditure investments than digital chipmaking leaders like Intel and Qualcomm [Relation] cause [Effect] contribute to healthy returns on capital for shareholders",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Amphenol can reinforce this sticky relationship by paying regular maintenance visits to its customers during production and offering other services.",
    "output": "[Cause] paying regular maintenance visits to its customers during production and offering other services [Relation] enable [Effect] reinforce this sticky relationship",
    "gold": "[Cause] paying regular maintenance visits to its customers during production and offering other services [Relation] enable [Effect] reinforce this sticky relationship",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A highly fragmented industry should keep this strategy viable for the foreseeable future, though we generally dislike acquisition-dependent strategies, as target company shareholders typically receive all of the synergy value in these deals.",
    "output": "[Cause] target company shareholders typically receive all of the synergy value in these deals [Relation] cause [Effect] A highly fragmented industry should keep this strategy viable for the foreseeable future, though we generally dislike acquisition-dependent strategies",
    "gold": "[Cause]  target company shareholders typically receive all of the synergy value in these deals [Relation] cause [Effect] A highly fragmented industry should keep this strategy viable for the foreseeable future, though we generally dislike acquisition-dependent strategies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because waste disposal costs are typically less than 0.1% of a medical practice's expenses, most Stericycle customers are not inclined to aggressively seek lower-priced services by lesser-known disposal companies.",
    "output": "[Cause] waste disposal costs are typically less than 0.1% of a medical practice's expenses [Relation] cause [Effect] most Stericycle customers are not inclined to aggressively seek lower-priced services by lesser-known disposal companies",
    "gold": "[Cause]  waste disposal costs are typically less than 0.1% of a medical practice's expenses [Relation] cause [Effect]  most Stericycle customers are not inclined to aggressively seek lower-priced services by lesser-known disposal companies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're boosting our fair value estimate to $130 per share, up from $108, to reflect demand for COVID-19 testing that is stronger than we'd originally anticipated thanks to the U.S.'s inability to rein in the spread of the virus.",
    "output": "[Cause] the U.S.'s inability to rein in the spread of the virus [Relation] cause [Effect] demand for COVID-19 testing that is stronger than we'd originally anticipated",
    "gold": "[Cause] the U.S.'s inability to rein in the spread of the virus [Relation] cause [Effect] We're boosting our fair value estimate to $130 per share, up from $108",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Uber helps people get from point A to point B by taking ride requests and matching them with drivers available in the area.",
    "output": "[Cause] taking ride requests and matching them with drivers available in the area [Relation] enable [Effect] Uber helps people get from point A to point B",
    "gold": "[Cause]  taking ride requests and matching them with drivers available in the area [Relation] enable [Effect] Uber helps people get from point A to point B",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Segment results depend on driving sales through an expansive (and expensive) infrastructure, and even its relatively mild 2.6% 2015 revenue dip led to a nearly 50-basis-point operating margin contraction, though growth and margins recovered in 2017.",
    "output": "[Cause] its relatively mild 2.6% 2015 revenue dip [Relation] cause [Effect] a nearly 50-basis-point operating margin contraction",
    "gold": "[Cause] its relatively mild 2.6% 2015 revenue dip [Relation] cause [Effect] a nearly 50-basis-point operating margin contraction",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "TransDigm can avoid sharing detailed cost information with the government, unlike many prime contractors, because there are laxer requirements on providing cost information for small-dollar-value spares and commercially priced contracts.",
    "output": "[Cause] there are laxer requirements on providing cost information for small-dollar-value spares and commercially priced contracts [Relation] cause [Effect] TransDigm can avoid sharing detailed cost information with the government, unlike many prime contractors",
    "gold": "[Cause] there are laxer requirements on providing cost information for small-dollar-value spares and commercially priced contracts [Relation] cause [Effect] TransDigm can avoid sharing detailed cost information with the government, unlike many prime contractors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that Cisco can be considered the safe choice for networking solutions, since it's a brand that most corporate decision-makers know of when making a vendor decision.",
    "output": "[Cause] it's a brand that most corporate decision-makers know of when making a vendor decision [Relation] cause [Effect] Cisco can be considered the safe choice for networking solutions",
    "gold": "[Cause] it's a brand that most corporate decision-makers know of when making a vendor decision [Relation] enable [Effect] Cisco can be considered the safe choice for networking solutions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This shift to cloud will propel customer growth as we move into a cloud-driven economy, enable more efficient cross-selling and support additional use cases.",
    "output": "[Cause] We move into a cloud-driven economy [Relation] cause [Effect] This shift to cloud will propel customer growth",
    "gold": "[Cause] This shift to cloud will propel customer growth [Relation] enable [Effect] more efficient cross-selling and support additional use cases",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This shift to cloud will propel customer growth as we move into a cloud-driven economy, enable more efficient cross-selling and support additional use cases.",
    "output": "[Cause] We move into a cloud-driven economy [Relation] enable [Effect] more efficient cross-selling and support additional use cases",
    "gold": "[Cause] we move into a cloud-driven economy [Relation] cause [Effect] This shift to cloud will propel customer growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe Julius Baer has material intangible assets and high switching costs that entrenches its excess profitability over an extended period.",
    "output": "[Cause] Julius Baer has material intangible assets and high switching costs [Relation] enable [Effect] entrenches its excess profitability over an extended period",
    "gold": "[Cause] Julius Baer has material intangible assets and high switching costs [Relation] enable [Effect] entrenches its excess profitability over an extended period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given this analysis is for the state versus NCCI's 38 states that it services, there is clearly a lot of uncertainty around this outcome.",
    "output": "[Cause] this analysis is for the state versus NCCI's 38 states that it services [Relation] cause [Effect] there is clearly a lot of uncertainty around this outcome",
    "gold": "[Cause] this analysis is for the state versus NCCI's 38 states that it services [Relation] cause [Effect] there is clearly a lot of uncertainty around this outcome",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For IHS Markit alone, in financial services (42% of fiscal 2020 revenue), Ipreo should drive expansion as its lineup targeting primary issuance and alternative investments complements other offerings.",
    "output": "[Cause] its lineup targeting primary issuance and alternative investments complements other offerings [Relation] cause [Effect] Ipreo should drive expansion",
    "gold": "[Cause] its lineup targeting primary issuance and alternative investments complements other offerings [Relation] cause [Effect] Ipreo should drive expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We maintain our high uncertainty rating to reflect the uncertainty in management's turnaround and anticipated short-term decline in retail volume.",
    "output": "[Cause] the uncertainty in management's turnaround and anticipated short-term decline in retail volume [Relation] cause [Effect] We maintain our high uncertainty rating",
    "gold": "[Cause] We maintain our high uncertainty rating [Relation] enable [Effect] reflect the uncertainty in management's turnaround and anticipated short-term decline in retail volume",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Returns have dropped steadily over the past five years as investments in wireless spectrum have bloated the capital base, but both figures remain ahead of AT&amp;T's cost of capital.",
    "output": "[Cause] investments in wireless spectrum have bloated the capital base [Relation] cause [Effect] Returns have dropped steadily over the past five years",
    "gold": "[Cause]  investments in wireless spectrum have bloated the capital base [Relation] cause [Effect] Returns have dropped steadily over the past five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nasdaq's exchange business enjoyed a strong 2020, as higher market volatility and increased retail interest in equity markets drove elevated trading volumes at the company's exchanges.",
    "output": "[Cause] higher market volatility and increased retail interest in equity markets [Relation] cause [Effect] elevated trading volumes at the company's exchanges",
    "gold": "[Cause] higher market volatility and increased retail interest in equity markets [Relation] cause [Effect] elevated trading volumes at the company's exchanges",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In general, we believe sustained brand equity is tough to disrupt in the absence of some paradigmatic shift in consumption trends.",
    "output": "[Cause] the absence of some paradigmatic shift in consumption trends [Relation] cause [Effect] sustained brand equity is tough to disrupt",
    "gold": "[Cause] the absence of some paradigmatic shift in consumption trends [Relation] cause [Effect] sustained brand equity is tough to disrupt",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, fluid ends used in hydraulic fracturing pumps need to be replaced frequently due to their exposure to corrosive fluids and abrasive proppants.",
    "output": "[Cause] their exposure to corrosive fluids and abrasive proppants [Relation] cause [Effect] fluid ends used in hydraulic fracturing pumps need to be replaced frequently",
    "gold": "[Cause]  their exposure to corrosive fluids and abrasive proppants [Relation] cause [Effect]  fluid ends used in hydraulic fracturing pumps need to be replaced frequently",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These factors will result in increased construction equipment revenue for CNH, leading us to forecast over 5% average sales growth over the next five years.",
    "output": "[Cause] These factors [Relation] cause [Effect] increased construction equipment revenue for CNH, leading us to forecast over 5% average sales growth over the next five years",
    "gold": "[Cause]  increased construction equipment revenue for CNH [Relation] enable [Effect]  forecast over 5% average sales growth over the next five years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Insulet's differentiated design has spurred above-market growth, which could be attractive to potential buyers looking to round out their diabetes portfolios.",
    "output": "[Cause] Insulet's differentiated design has spurred above-market growth [Relation] enable [Effect] attractive to potential buyers looking to round out their diabetes portfolios",
    "gold": "[Cause] Insulet's differentiated design has spurred above-market growth [Relation] cause [Effect] attractive to potential buyers looking to round out their diabetes portfolios",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From a longer-term point of view, we think it is likely that smaller and more regional networks are building out additional capacity for cross-border transactions, which could eat into growth a bit in the coming years, but we haven't seen a material effect yet.",
    "output": "[Cause] smaller and more regional networks are building out additional capacity for cross-border transactions [Relation] cause [Effect] eat into growth a bit in the coming years",
    "gold": "[Cause] smaller and more regional networks are building out additional capacity for cross-border transactions [Relation] enable [Effect] eat into growth a bit in the coming years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But this should not impact TripAdvisor's uncertainty rating unless travel demand once again returns to near zero for an extended period of time, leading to potential needs for incremental liquidity, which perhaps could occur at value destructive levels.",
    "output": "[Cause] travel demand once again returns to near zero for an extended period of time [Relation] cause [Effect] potential needs for incremental liquidity",
    "gold": "[Cause] travel demand once again returns to near zero for an extended period of time [Relation] cause [Effect] potential needs for incremental liquidity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Commercial aerospace is in a steep downcycle because the pandemic has made consumers and businesses less willing to travel.",
    "output": "[Cause] the pandemic has made consumers and businesses less willing to travel [Relation] cause [Effect] Commercial aerospace is in a steep downcycle",
    "gold": "[Cause] the pandemic has made consumers and businesses less willing to travel [Relation] cause [Effect] Commercial aerospace is in a steep downcycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Roper has never taken an impairment charge from an acquisition, we think it's inevitable it may one day have to, even if it's multiple years into the future as it grows in market capitalization.",
    "output": "[Cause] it grows in market capitalization [Relation] cause [Effect] it's inevitable it may one day have to",
    "gold": "[Cause]  it grows in market capitalization [Relation] cause [Effect] an impairment charge from an acquisition",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Despite our expectations for double-digit flash sales growth through 2025, NAND production requires massive recurring capital investment that we think compresses margins and erodes economic profits in the long run.",
    "output": "[Cause] NAND production requires massive recurring capital investment [Relation] cause [Effect] compresses margins and erodes economic profits in the long run",
    "gold": "[Cause] NAND production requires massive recurring capital investment [Relation] cause [Effect] compresses margins and erodes economic profits in the long run",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ferguson's prospects have improved as a result of better pricing discipline and a strategic shift to the attractive North American market, and we expect the company to return to strong growth in the near term.",
    "output": "[Cause] better pricing discipline and a strategic shift to the attractive North American market [Relation] cause [Effect] Ferguson's prospects have improved",
    "gold": "[Cause] better pricing discipline and a strategic shift to the attractive North American market [Relation] cause [Effect]  the company to return to strong growth in the near term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe Best Buy's management team has developed several reasonable initiatives to optimize its cost structure and improve its relevancy among consumers.",
    "output": "[Cause] developed several reasonable initiatives [Relation] enable [Effect] optimize its cost structure and improve its relevancy among consumers",
    "gold": "[Cause] developed several reasonable initiatives [Relation] enable [Effect] optimize its cost structure and improve its relevancy among consumers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the value of this collateral falls due to economic pressure, then the credit risk of Capital One's auto loans increases.",
    "output": "[Cause] the value of this collateral falls [Relation] cause [Effect] the credit risk of Capital One's auto loans increases",
    "gold": "[Cause] the value of this collateral falls [Relation] cause [Effect] the credit risk of Capital One's auto loans increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Slowing improvement in the real estate market, as evidenced by increased home inventories for sale or slower growth in home prices, could alter the wealth effect on consumers and cause them to spend less on replacing goods in their homes.",
    "output": "[Cause] Slowing improvement in the real estate market [Relation] cause [Effect] alter the wealth effect on consumers",
    "gold": "[Cause] Slowing improvement in the real estate market, as evidenced by increased home inventories for sale or slower growth in home prices [Relation] enable [Effect] them to spend less on replacing goods in their homes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As these engines become more electrified and EVs take up a larger share of the global fleet, Amphenol's average content per vehicle increases.",
    "output": "[Cause] these engines become more electrified and EVs take up a larger share of the global fleet [Relation] cause [Effect] Amphenol's average content per vehicle increases",
    "gold": "[Cause] these engines become more electrified and EVs take up a larger share of the global fleet [Relation] cause [Effect] Amphenol's average content per vehicle increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we point out that this reserve does not account for product liability risks, which are significant given an association with higher cholesterol among exposed populations, with a limited association of low birth weights and immunological effects.",
    "output": "[Cause] an association with higher cholesterol among exposed populations, with a limited association of low birth weights and immunological effects [Relation] cause [Effect] this reserve does not account for product liability risks",
    "gold": "[Cause] an association with higher cholesterol among exposed populations, with a limited association of low birth weights and immunological effects [Relation] cause [Effect] this reserve does not account for product liability risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect net charge-offs to average 1.4% of gross loans in the long run, and while we project higher losses in the initial years of our forecast due to economic weakness related to COVID-19, we expect losses will be quite manageable with sizable reserve releases along the way.",
    "output": "[Cause] sizable reserve releases along the way [Relation] cause [Effect] losses will be quite manageable",
    "gold": "[Cause] sizable reserve releases along the way [Relation] cause [Effect]  losses will be quite manageable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Margins were hit in 2020 as Pepsi booked charges for merger integration and system implementation associated with productivity initiatives, in addition to incremental strategic investments.",
    "output": "[Cause] Pepsi booked charges for merger integration and system implementation associated with productivity initiatives, in addition to incremental strategic investments [Relation] cause [Effect] Margins were hit in 2020",
    "gold": "[Cause] Margins were hit in 2020 as Pepsi booked charges for merger integration and system implementation associated with productivity initiatives [Relation] cause [Effect] incremental strategic investments",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With continued focus on retail fundamentals (merchandising excellence, operational efficiency, supply chain improvements, and customer engagement), Lowe's scale should help it leverage expenses and maintain its low-cost position.",
    "output": "[Cause] continued focus on retail fundamentals (merchandising excellence, operational efficiency, supply chain improvements, and customer engagement) [Relation] enable [Effect] Lowe's scale should help it leverage expenses and maintain its low-cost position",
    "gold": "[Cause] continued focus on retail fundamentals (merchandising excellence, operational efficiency, supply chain improvements, and customer engagement) [Relation] cause [Effect] Lowe's scale should help it leverage expenses and maintain its low-cost position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect tepid energy demand growth, generation overcapacity, renewable energy growth, and uncertain capacity markets will hurt returns for whoever ends up owning the plants.",
    "output": "[Cause] tepid energy demand growth, generation overcapacity, renewable energy growth, and uncertain capacity markets [Relation] cause [Effect] hurt returns for whoever ends up owning the plants",
    "gold": "[Cause] tepid energy demand growth, generation overcapacity, renewable energy growth, and uncertain capacity markets [Relation] cause [Effect] hurt returns for whoever ends up owning the plants",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Walgreens has established significant scale which has enabled it to foster meaningful partnerships and to have negotiating power with suppliers.",
    "output": "[Cause] Walgreens has established significant scale [Relation] enable [Effect] foster meaningful partnerships and to have negotiating power with suppliers",
    "gold": "[Cause] Walgreens has established significant scale [Relation] enable [Effect]  foster meaningful partnerships and to have negotiating power with suppliers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the near term, though, Global Payments will feel the pinch from the coronavirus as payment transactions have fallen markedly, and its focus on small merchants will likely make the company more sensitive than its peers to any resulting macroeconomic fallout.",
    "output": "[Cause] payment transactions have fallen markedly [Relation] cause [Effect] Global Payments will feel the pinch from the coronavirus",
    "gold": "[Cause] payment transactions have fallen markedly [Relation] cause [Effect] Global Payments will feel the pinch from the coronavirus",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the near term, though, Global Payments will feel the pinch from the coronavirus as payment transactions have fallen markedly, and its focus on small merchants will likely make the company more sensitive than its peers to any resulting macroeconomic fallout.",
    "output": "[Cause] its focus on small merchants [Relation] cause [Effect] make the company more sensitive than its peers to any resulting macroeconomic fallout",
    "gold": "[Cause] Global Payments will feel the pinch from the coronavirus [Relation] cause [Effect]  its focus on small merchants will likely make the company more sensitive than its peers to any resulting macroeconomic fallout.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think interconnection will continue to be the fastest growing portion of Equinix's business, driven mostly by customers having continually greater needs to connect with their cloud service providers.",
    "output": "[Cause] customers having continually greater needs to connect with their cloud service providers [Relation] cause [Effect] interconnection will continue to be the fastest growing portion of Equinix's business",
    "gold": "[Cause] interconnection will continue to be the fastest growing portion of Equinix's business [Relation] enable [Effect]  mostly by customers having continually greater needs to connect with their cloud service providers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although other companies' lack of interest can be GTT's gain, we generally don't see this business as being overly attractive, and we don't think there is much stopping competitors from refocusing if the business proved more lucrative.",
    "output": "[Cause] the business proved more lucrative [Relation] cause [Effect] there is much stopping competitors from refocusing",
    "gold": "[Cause]  the business proved more lucrative [Relation] cause [Effect] there is much stopping competitors from refocusing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Instead, we're seeing favorable trends where firms are consolidating their IT services work to reduce potential breaches by limiting possible points of entry for malicious actors.",
    "output": "[Cause] firms are consolidating their IT services work [Relation] enable [Effect] reduce potential breaches by limiting possible points of entry for malicious actors",
    "gold": "[Cause] limiting possible points of entry for malicious actors [Relation] enable [Effect]  reduce potential breaches",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think cheaper suppliers in lower cost labor countries will emerge; however, Cronos' production expansion into Israel, Colombia, and Australia helps protect its share.",
    "output": "[Cause] cheaper suppliers in lower cost labor countries [Relation] cause [Effect] emerge",
    "gold": "[Cause] lower cost labor countries [Relation] enable [Effect] cheaper suppliers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Newer projects have superior economics and can earn higher returns at lower oil prices after rounds of cost reductions, re-engineering (standardization and simplification) and service price deflation.",
    "output": "[Cause] rounds of cost reductions, re-engineering (standardization and simplification) and service price deflation [Relation] enable [Effect] earn higher returns at lower oil prices",
    "gold": "[Cause] rounds of cost reductions, re-engineering (standardization and simplification) and service price deflation [Relation] enable [Effect] earn higher returns at lower oil prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Group 1's SG&A leverage to be far better thanks to the Acceleride omnichannel platform and some SG&A cuts on staffing and advertising being permanent.",
    "output": "[Cause] the Acceleride omnichannel platform and some SG&A cuts on staffing and advertising being permanent [Relation] enable [Effect] Group 1's SG&A leverage to be far better",
    "gold": "[Cause]  the Acceleride omnichannel platform and some SG&A cuts on staffing and advertising being permanent [Relation] enable [Effect] Group 1's SG&A leverage to be far better",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But we believe COVID-19 has given Harley the opportunity to press the reset button on its strategy and refocus effort back on its core consumer, one which we believe holds the key to higher profit margins ahead (even with some ceded shipment opportunities).",
    "output": "[Cause] COVID-19 has given Harley the opportunity to press the reset button on its strategy and refocus effort back on its core consumer [Relation] enable [Effect] higher profit margins ahead",
    "gold": "[Cause] COVID-19 has given Harley the opportunity to press the reset button on its strategy and refocus effort back on its core consumer [Relation] cause [Effect] higher profit margins ahead",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast the acetyl chain segment to rebound in the near term then grow slowly thereafter because of its exposure to mostly mature end markets.",
    "output": "[Cause] its exposure to mostly mature end markets [Relation] cause [Effect] the acetyl chain segment to rebound in the near term then grow slowly thereafter",
    "gold": "[Cause] its exposure to mostly mature end markets [Relation] cause [Effect] the acetyl chain segment to rebound in the near term then grow slowly thereafter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nevertheless, we think Cushman & Wakefield is poised to experience long-term growth as it continues to benefit from a buoyant real estate services industry and takes share from smaller, more fragmented competitors. Accordingly, we expect the company to experience mid-single-digit revenue growth through 2029, a bit lower than rival CBRE, which has a slight benefit deriving from its increased scale.",
    "output": "[Cause] Cushman & Wakefield is poised to experience long-term growth as it continues to benefit from a buoyant real estate services industry and takes share from smaller, more fragmented competitors [Relation] cause [Effect] the company to experience mid-single-digit revenue growth through 2029, a bit lower than rival CBRE, which has a slight benefit deriving from its increased scale",
    "gold": "[Cause] Cushman & Wakefield is poised to experience long-term growth as it continues to benefit from a buoyant real estate services industry and takes share from smaller, more fragmented competitors [Relation] cause [Effect] the company to experience mid-single-digit revenue growth through 2029, a bit lower than rival CBRE, which has a slight benefit deriving from its increased scale",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the most critical near-term risk, in our view, is the new COVID-19 variants, since Aclara's revenue numbers fell double-digits year over year in 2020 given its limited installation and maintenance access to homes and buildings during pandemic lockdowns.",
    "output": "[Cause] its limited installation and maintenance access to homes and buildings during pandemic lockdowns [Relation] cause [Effect] Aclara's revenue numbers fell double-digits year over year in 2020",
    "gold": "[Cause]  its limited installation and maintenance access to homes and buildings during pandemic lockdowns [Relation] cause [Effect]  Aclara's revenue numbers fell double-digits year over year in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Instead, the firm generates revenue via selling and leasing the required proprietary Imax equipment and via fees for digitally remastering standard films into the proprietary Imax format.",
    "output": "[Cause] selling and leasing the required proprietary Imax equipment and via fees for digitally remastering standard films into the proprietary Imax format [Relation] enable [Effect] the firm generates revenue",
    "gold": "[Cause] selling and leasing the required proprietary Imax equipment and via fees for digitally remastering standard films into the proprietary Imax format [Relation] cause [Effect] the firm generates revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the firm has seen major growth in interconnection revenue recently, as more enterprises are colocating and connecting with their cloud providers, it does not operate any major Internet exchanges, and its properties are less network-dense than top competitors, so we think little differentiates its offering.",
    "output": "[Cause] more enterprises are colocating and connecting with their cloud providers [Relation] cause [Effect] the firm has seen major growth in interconnection revenue recently",
    "gold": "[Cause] its properties are less network-dense than top competitors [Relation] cause [Effect] little differentiates its offering",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the firm has seen major growth in interconnection revenue recently, as more enterprises are colocating and connecting with their cloud providers, it does not operate any major Internet exchanges, and its properties are less network-dense than top competitors, so we think little differentiates its offering.",
    "output": "[Cause] it does not operate any major Internet exchanges, and its properties are less network-dense than top competitors [Relation] cause [Effect] little differentiates its offering",
    "gold": "[Cause] more enterprises are colocating and connecting with their cloud providers [Relation] prevent [Effect] operate any major Internet exchanges",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After normalization, rapid change in apparel retail as competition intensifies poses the primary risk to our outlook, particularly as consumers incur virtually no switching costs.",
    "output": "[Cause] rapid change in apparel retail as competition intensifies [Relation] cause [Effect] the primary risk to our outlook",
    "gold": "[Cause] particularly as consumers incur virtually no switching costs [Relation] cause [Effect] After normalization, rapid change in apparel retail as competition intensifies poses the primary risk to our outlook",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Moreover, as the company opens new offices according to demand, existing offices become more valuable because there are more locations with which to arrange trade.",
    "output": "[Cause] there are more locations with which to arrange trade [Relation] cause [Effect] existing offices become more valuable",
    "gold": "[Cause] Moreover, as the company opens new offices according to demand [Relation] cause [Effect] existing offices become more valuable because there are more locations with which to arrange trade",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because of the long duration attached to many of the products they sell, insurers do not necessarily know their cost of goods sold for a number of years, allowing them to underprice policies without knowing it.",
    "output": "[Cause] the long duration attached to many of the products they sell [Relation] cause [Effect] insurers do not necessarily know their cost of goods sold for a number of years, allowing them to underprice policies without knowing it",
    "gold": "[Cause] the long duration attached to many of the products they sell, [Relation] enable [Effect] allowing them to underprice policies without knowing it.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, there are no switching costs to protect Harley's brand when consumers replace their bikes, and the premium price Harley commands relative to its peers has proven problematic during cyclical downturns and periods of competitive pricing, hindering Harley's retail sales and shipments.",
    "output": "[Cause] consumers replace their bikes [Relation] cause [Effect] there are no switching costs to protect Harley's brand",
    "gold": "[Cause] no switching costs to protect Harley's brand [Relation] prevent [Effect]  consumers replace their bikes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We project sales growth rates of 20% and 4.1% for Coach and Kate Spade, respectively, in fiscal 2021, but a decline of 7% on permanent store closures for Stuart Weitzman in Europe and Asia (excluding China).",
    "output": "[Cause] permanent store closures for Stuart Weitzman in Europe and Asia (excluding China) [Relation] cause [Effect] a decline of 7%",
    "gold": "[Cause] sales growth rates of 20% and 4.1% for Coach and Kate Spade, respectively, in fiscal 2021 [Relation] cause [Effect] a decline of 7% on permanent store closures for Stuart Weitzman in Europe and Asia (excluding China)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Taking around 50 minutes from Guangzhou to Hong Kong, this high-speed line substantially reduces the attractiveness of Guangshen's existing through train, which takes about two hours to cover the distance from Guangzhou to Hong Kong.",
    "output": "[Cause] Taking around 50 minutes from Guangzhou to Hong Kong [Relation] cause [Effect] this high-speed line substantially reduces the attractiveness of Guangshen's existing through train",
    "gold": "[Cause] this high-speed line substantially [Relation] cause [Effect] reduces the attractiveness of Guangshen's existing through train",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With its substantial local and national market share, Anthem aims to deepen its influence on both the provider and client front.",
    "output": "[Cause] its substantial local and national market share [Relation] enable [Effect] Anthem aims to deepen its influence on both the provider and client front",
    "gold": "[Cause]  its substantial local and national market share [Relation] cause [Effect] Anthem aims to deepen its influence on both the provider and client front",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company doubled in size while taking on only a portion of the general and administrative costs, making the combined company more efficient.",
    "output": "[Cause] The company doubled in size while taking on only a portion of the general and administrative costs [Relation] enable [Effect] the combined company more efficient",
    "gold": "[Cause] The company doubled in size while taking on only a portion of the general and administrative costs [Relation] cause [Effect] the combined company more efficient",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Evergy should be well positioned to manage its environmental, social, and governance risk, primarily from greenhouse gas emissions, as it retires coal plants and replaces the capacity with wind farms.",
    "output": "[Cause] it retires coal plants and replaces the capacity with wind farms [Relation] cause [Effect] Evergy should be well positioned to manage its environmental, social, and governance risk, primarily from greenhouse gas emissions",
    "gold": "[Cause] it retires coal plants and replaces the capacity with wind farms [Relation] cause [Effect] Evergy should be well positioned to manage its environmental, social, and governance risk, primarily from greenhouse gas emissions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the company is not able to build sufficient scale and brand power in its foreign markets, such investments could destroy shareholder value.",
    "output": "[Cause] the company is not able to build sufficient scale and brand power in its foreign markets [Relation] cause [Effect] investments could destroy shareholder value",
    "gold": "[Cause] the company is not able to build sufficient scale and brand power in its foreign markets [Relation] cause [Effect] investments could destroy shareholder value",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "KeyCorp's profitability will largely be determined by the interest-rate cycle and the effects of credit and debt cycles, all of which are not under management's control.",
    "output": "[Cause] the interest-rate cycle and the effects of credit and debt cycles [Relation] cause [Effect] KeyCorp's profitability",
    "gold": "[Cause] the interest-rate cycle and the effects of credit and debt cycles [Relation] cause [Effect] KeyCorp's profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Assuming successful network construction, entrants then face steep customer acquisition costs and startup losses as they attempt to gain share, typically with a modestly differentiated product in a rapidly maturing market.",
    "output": "[Cause] successful network construction [Relation] cause [Effect] entrants then face steep customer acquisition costs and startup losses as they attempt to gain share",
    "gold": "[Cause] successful network construction [Relation] cause [Effect] entrants then face steep customer acquisition costs and startup losses as they attempt to gain share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Developing a manufacturing footprint the size of Tenneco's would require a high amount of capital investment, a substantial barrier to entry for potential competitors, particularly given auto suppliers' uncertain prospects of economic profit.",
    "output": "[Cause] Developing a manufacturing footprint the size of Tenneco's would require a high amount of capital investment [Relation] cause [Effect] a substantial barrier to entry for potential competitors",
    "gold": "[Cause] given auto suppliers' uncertain prospects of economic profit [Relation] cause [Effect] Developing a manufacturing footprint the size of Tenneco's would require a high amount of capital investment, a substantial barrier to entry for potential competitors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, hospitals are significantly curtailing their capital expenditures in 2020 and likely into 2021 due to declining profitability related to the reduction in elective procedures and admissions.",
    "output": "[Cause] declining profitability related to the reduction in elective procedures and admissions [Relation] cause [Effect] hospitals are significantly curtailing their capital expenditures in 2020 and likely into 2021",
    "gold": "[Cause] declining profitability related to the reduction in elective procedures and admissions [Relation] cause [Effect] hospitals are significantly curtailing their capital expenditures in 2020 and likely into 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customers have few choices thus wield limited buyer power, with most Class I railroads operating as duopolies (and some being a monopoly supplier) to the end client in many markets.",
    "output": "[Cause] Customers have few choices [Relation] cause [Effect] wield limited buyer power",
    "gold": "[Cause] Customers have few choices [Relation] cause [Effect]  wield limited buyer power",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its midband spectrum holdings, which will likely provide the bulk of wireless network capacity well into the future, are far larger than either of its primary competitors'.",
    "output": "[Cause] Its midband spectrum holdings [Relation] enable [Effect] provide the bulk of wireless network capacity well into the future",
    "gold": "[Cause] Its midband spectrum holdings [Relation] enable [Effect] provide the bulk of wireless network capacity well into the future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Innovations from both firms may help to stave off obsolescence in the near term but the next decade promises to limit the number of use cases.",
    "output": "[Cause] Innovations from both firms [Relation] enable [Effect] stave off obsolescence in the near term",
    "gold": "[Cause] Innovations from both firms [Relation] enable [Effect] stave off obsolescence in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Security and software are two areas where Cisco is focused due to the importance in traditional data centers, cloud networks, and the growing number of wide network access points.",
    "output": "[Cause] the importance in traditional data centers, cloud networks, and the growing number of wide network access points [Relation] cause [Effect] Security and software are two areas where Cisco is focused",
    "gold": "[Cause] the importance in traditional data centers, cloud networks, and the growing number of wide network access points [Relation] cause [Effect] Security and software are two areas where Cisco is focused",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, Terex crane products don't possess features that are significantly differentiated from competitors. This may be a result of the high level of quality and safety already demanded from all crane manufacturers, leaving little room for distinguishing capabilities or features.",
    "output": "[Cause] Terex crane products don't possess features that are significantly differentiated from competitors [Relation] cause [Effect] the high level of quality and safety already demanded from all crane manufacturers, leaving little room for distinguishing capabilities or features",
    "gold": "[Cause] the high level of quality and safety already demanded from all crane manufacturers, leaving little room for distinguishing capabilities or features [Relation] cause [Effect] Terex crane products don't possess features that are significantly differentiated from competitors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We eventually see additional supply bringing Duke Realty's returns to the cost of capital, since nothing prohibits new entrants to this market.",
    "output": "[Cause] nothing prohibits new entrants to this market [Relation] cause [Effect] additional supply bringing Duke Realty's returns to the cost of capital",
    "gold": "[Cause] nothing prohibits new entrants to this market [Relation] cause [Effect] additional supply bringing Duke Realty's returns to the cost of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With no meaningful debt maturities until 2024, greater flexibility under its revolving credit facility (access to $175 million), and a cash balance of $204 million at September, we believe WW has the financial foundation to a pursue its digital evolution and transform its physical studio footprint.",
    "output": "[Cause] no meaningful debt maturities until 2024, greater flexibility under its revolving credit facility (access to $175 million), and a cash balance of $204 million at September [Relation] enable [Effect] WW has the financial foundation to a pursue its digital evolution and transform its physical studio footprint",
    "gold": "[Cause] no meaningful debt maturities until 2024, greater flexibility under its revolving credit facility (access to $175 million), and a cash balance of $204 million at September [Relation] cause [Effect] WW has the financial foundation to a pursue its digital evolution and transform its physical studio footprint",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These targets are premised on a recovery in oil prices, however, as production growth will pause in the near term given reduced short-cycle spending.",
    "output": "[Cause] production growth will pause in the near term given reduced short-cycle spending [Relation] cause [Effect] These targets are premised on a recovery in oil prices",
    "gold": "[Cause] reduced short-cycle spending [Relation] cause [Effect] production growth will pause in the near term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While Mosaic benefits from a cost position well below marginal cost, it currently sits above its Canadian peers on the cost curve because of brine inflow expenses.",
    "output": "[Cause] brine inflow expenses [Relation] cause [Effect] it currently sits above its Canadian peers on the cost curve",
    "gold": "[Cause] brine inflow expenses [Relation] enable [Effect] it currently sits above its Canadian peers on the cost curve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Donaldson's recurring revenue partially shields it from cyclicality, as the firm generates over half of its revenue from replacement parts and consumables (62% in fiscal 2018).",
    "output": "[Cause] the firm generates over half of its revenue from replacement parts and consumables [Relation] cause [Effect] Donaldson's recurring revenue partially shields it from cyclicality",
    "gold": "[Cause] the firm generates over half of its revenue from replacement parts and consumables [Relation] cause [Effect] Donaldson's recurring revenue partially shields it from cyclicality",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the firm has the inklings of switching costs in the form of being a sole-source supplier of various aerostructures, Spirit is unable to capitalize on this position because it does not own most of the intellectual property it works with.",
    "output": "[Cause] it does not own most of the intellectual property it works with [Relation] cause [Effect] Spirit is unable to capitalize on this position",
    "gold": "[Cause]  it does not own most of the intellectual property it works with [Relation] cause [Effect] Spirit is unable to capitalize on this position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Factors that affect the soy crush spread include the global supply of soybeans and global demand for soy meal and soy oil.",
    "output": "[Cause] the global supply of soybeans and global demand for soy meal and soy oil [Relation] cause [Effect] the soy crush spread",
    "gold": "[Cause] the global supply of soybeans and global demand for soy meal and soy oil [Relation] cause [Effect] the soy crush spread",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also think that Monolithic Power faces risk arising from its revenue concentration out of Asia--91% of 2020 sales were from Asia and 61% come from China specifically.",
    "output": "[Cause] its revenue concentration out of Asia--91% of 2020 sales were from Asia and 61% come from China specifically [Relation] cause [Effect] Monolithic Power faces risk",
    "gold": "[Cause]  its revenue concentration out of Asia--91% of 2020 sales were from Asia and 61% come from China specifically [Relation] cause [Effect] Monolithic Power faces risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thus, we believe that Kimco must continue improving its overall quality mix to maintain solid net operating income growth across its total portfolio.",
    "output": "[Cause] Kimco must continue improving its overall quality mix [Relation] enable [Effect] maintain solid net operating income growth across its total portfolio",
    "gold": "[Cause] maintain solid net operating income growth across its total portfolio [Relation] cause [Effect] Kimco must continue improving its overall quality mix",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Thus, we believe that Kimco must continue improving its overall quality mix to maintain solid net operating income growth across its total portfolio.",
    "output": "[Cause] Kimco must continue improving its overall quality mix [Relation] enable [Effect] maintain solid net operating income growth across its total portfolio",
    "gold": "[Cause] Kimco must continue improving its overall quality mix [Relation] cause [Effect] maintain solid net operating income growth across its total portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Like all orthopedic device makers, Smith & Nephew is exposed to faulty design on occasion, which in some cases leads to product recalls, inventory write-downs, and legal fees.",
    "output": "[Cause] Smith & Nephew is exposed to faulty design on occasion [Relation] cause [Effect] product recalls, inventory write-downs, and legal fees",
    "gold": "[Cause] Smith & Nephew is exposed to faulty design on occasion [Relation] cause [Effect] product recalls, inventory write-downs, and legal fees",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, Kinder's low returns on these assets and exposure to producer-side economics give us less confidence that Kinder can maintain returns on capital greater than its cost of capital consistently for many years.",
    "output": "[Cause] Kinder's low returns on these assets and exposure to producer-side economics [Relation] cause [Effect] less confidence that Kinder can maintain returns on capital greater than its cost of capital consistently for many years",
    "gold": "[Cause] Kinder's low returns on these assets and exposure to producer-side economics [Relation] cause [Effect] less confidence that Kinder can maintain returns on capital greater than its cost of capital consistently for many years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, share loss could be mitigated with progress with a higher dose version of Spinraza (in the Devote phase 2/3 study) and next-generation drugs that could see dosing every nine months or yearly (instead of every four months).",
    "output": "[Cause] a higher dose version of Spinraza (in the Devote phase 2/3 study) and next-generation drugs that could see dosing every nine months or yearly (instead of every four months) [Relation] enable [Effect] share loss could be mitigated",
    "gold": "[Cause] a higher dose version of Spinraza (in the Devote phase 2/3 study) and next-generation drugs that could see dosing every nine months or yearly (instead of every four months) [Relation] cause [Effect] share loss could be mitigated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "New emission standards have pushed truck manufacturers to reduce harmful emissions and to develop zero-emission technology. These investments will help the company create a pathway for its eventual shift to alternatively powered vehicles (BEVs and fuel cells).",
    "output": "[Cause] New emission standards have pushed truck manufacturers to reduce harmful emissions and to develop zero-emission technology [Relation] enable [Effect] help the company create a pathway for its eventual shift to alternatively powered vehicles (BEVs and fuel cells)",
    "gold": "[Cause] New emission standards have pushed truck manufacturers to reduce harmful emissions and to develop zero-emission technology [Relation] enable [Effect] help the company create a pathway for its eventual shift to alternatively powered vehicles (BEVs and fuel cells)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the embedded nature of credit ratings among capital markets participants, regulators, and index providers, Moody's enjoys a strong competitive position and strong operating margin.",
    "output": "[Cause] the embedded nature of credit ratings among capital markets participants, regulators, and index providers [Relation] cause [Effect] Moody's enjoys a strong competitive position and strong operating margin",
    "gold": "[Cause]  the embedded nature of credit ratings among capital markets participants, regulators, and index providers [Relation] cause [Effect]  Moody's enjoys a strong competitive position and strong operating margin",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The traditional television business (DirecTV) is also in a challenging position, but we believe the deal with TPG provides an incentive to quickly find strategic alternatives for the assets.",
    "output": "[Cause] the deal with TPG [Relation] enable [Effect] provides an incentive to quickly find strategic alternatives for the assets",
    "gold": "[Cause] the deal with TPG [Relation] enable [Effect] provides an incentive to quickly find strategic alternatives for the assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company may face environmental, social, and governance, or ESG, risks that would negatively affect the portfolio or cashflows. These include properly maintaining the safety of the buildings across the portfolio, paying a competitive wage to employees, and accounting for the future impact of climate change.",
    "output": "[Cause] The company may face environmental, social, and governance, or ESG, risks that would negatively affect the portfolio or cashflows [Relation] cause [Effect] properly maintaining the safety of the buildings across the portfolio, paying a competitive wage to employees, and accounting for the future impact of climate change",
    "gold": "[Cause] The company may face environmental, social, and governance, or ESG, risks that would negatively affect the portfolio or cashflows [Relation] cause [Effect] properly maintaining the safety of the buildings across the portfolio, paying a competitive wage to employees, and accounting for the future impact of climate change",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While positive data in the larger diabetic retinopathy population should provide another boost, we expect pricing pressure and competition (Novartis' Beovu approved in late 2019, Roche's port delivery system and faricimab approvals expected in 2021-22) should limit Eylea growth through patent expiration in 2024.",
    "output": "[Cause] positive data in the larger diabetic retinopathy population [Relation] enable [Effect] provide another boost",
    "gold": "[Cause] positive data in the larger diabetic retinopathy population [Relation] enable [Effect]  provide another boost",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For most manufacturers, unplanned downtime is the single largest contributor to lost production time and according to a study conducted by the International Society of Automation, downtime costs the global manufacturing industry approximately $647 billion every year.",
    "output": "[Cause] unplanned downtime [Relation] cause [Effect] lost production time",
    "gold": "[Cause] unplanned downtime [Relation] cause [Effect] lost production time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While current market strength is not necessarily a meaningful predictor of future market leadership and shareholder returns, the diagnostic and life science markets tend to favor strong incumbents, and, in our view, the complexity of instruments and analysis creates lasting system familiarity for practitioners.",
    "output": "[Cause] the complexity of instruments and analysis [Relation] enable [Effect] lasting system familiarity for practitioners",
    "gold": "[Cause] the complexity of instruments and analysis [Relation] enable [Effect] lasting system familiarity for practitioners",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A series of discoveries in offshore China, where cost is lowest for CNOOC given its PSC arrangements, is possible but difficult for us to factor in with certainty.",
    "output": "[Cause] its PSC arrangements [Relation] cause [Effect] cost is lowest for CNOOC",
    "gold": "[Cause]  its PSC arrangements [Relation] enable [Effect]  cost is lowest for CNOOC",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The need for infrastructure investment is due in large part to above-average electricity demand growth in Houston and infrastructure investment to replace substandard gas distribution pipe, notably at its distribution utilities in Minneapolis and Houston.",
    "output": "[Cause] above-average electricity demand growth in Houston and infrastructure investment to replace substandard gas distribution pipe, notably at its distribution utilities in Minneapolis and Houston [Relation] cause [Effect] The need for infrastructure investment",
    "gold": "[Cause] above-average electricity demand growth in Houston and infrastructure investment to replace substandard gas distribution pipe, notably at its distribution utilities in Minneapolis and Houston [Relation] cause [Effect] The need for infrastructure investment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assign Qualcomm a high uncertainty rating, as its chip business faces a competitive market in which customers design their own processors and its licensing business has historically faced both regulatory scrutiny and customer disagreements.",
    "output": "[Cause] its chip business faces a competitive market in which customers design their own processors and its licensing business has historically faced both regulatory scrutiny and customer disagreements [Relation] cause [Effect] We assign Qualcomm a high uncertainty rating",
    "gold": "[Cause] as its chip business faces a competitive market [Relation] cause [Effect] We assign Qualcomm a high uncertainty rating",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The desire to consolidate vendors makes Adobe an obvious choice to turn to for needed marketing software solutions, and the fact that Adobe's products are strong should help initially in what we believe is a large greenfield opportunity.",
    "output": "[Cause] The desire to consolidate vendors [Relation] enable [Effect] Adobe an obvious choice to turn to for needed marketing software solutions",
    "gold": "[Cause] The desire to consolidate vendors [Relation] enable [Effect] Adobe an obvious choice to turn to for needed marketing software solutions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Outside of TPMS, there is also the risk that electrification might happen more quickly than Sensata can rightsize its product lines, causing significant downturns in revenue and profits.",
    "output": "[Cause] electrification might happen more quickly than Sensata can rightsize its product lines [Relation] cause [Effect] significant downturns in revenue and profits",
    "gold": "[Cause] electrification might happen more quickly than Sensata can rightsize its product lines [Relation] cause [Effect] significant downturns in revenue and profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect that Cameco's price realizations will naturally improve as contracts struck in periods of weaker uranium prices continue to roll off its books.",
    "output": "[Cause] contracts struck in periods of weaker uranium prices continue to roll off its books [Relation] cause [Effect] Cameco's price realizations will naturally improve",
    "gold": "[Cause] contracts struck in periods of weaker uranium prices continue to roll off its books [Relation] cause [Effect] Cameco's price realizations will naturally improve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, Howmet's profitability is highly leveraged to a single end market, a concerning dynamic given that the commercial aerospace industry is cyclical.",
    "output": "[Cause] the commercial aerospace industry is cyclical [Relation] cause [Effect] Howmet's profitability is highly leveraged to a single end market",
    "gold": "[Cause] the commercial aerospace industry is cyclical [Relation] cause [Effect] Howmet's profitability is highly leveraged to a single end market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also think these specialized tests will carry a higher price tag than routine counterparts, resulting in an average annual price increase of about 1% over the long term.",
    "output": "[Cause] these specialized tests will carry a higher price tag than routine counterparts [Relation] cause [Effect] an average annual price increase of about 1% over the long term",
    "gold": "[Cause]  these specialized tests will carry a higher price tag than routine counterparts [Relation] cause [Effect] an average annual price increase of about 1% over the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As these consumer benefits are costly to deliver, larger retailers are at an advantage as they can spread service costs (as well as inventory holding expenses) over a large sales base.",
    "output": "[Cause] these consumer benefits are costly to deliver [Relation] cause [Effect] larger retailers are at an advantage",
    "gold": "[Cause] these consumer benefits are costly to deliver [Relation] cause [Effect] larger retailers are at an advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As these consumer benefits are costly to deliver, larger retailers are at an advantage as they can spread service costs (as well as inventory holding expenses) over a large sales base.",
    "output": "[Cause] they can spread service costs (as well as inventory holding expenses) over a large sales base [Relation] cause [Effect] larger retailers are at an advantage",
    "gold": "[Cause] they can spread service costs (as well as inventory holding expenses) over a large sales base [Relation] cause [Effect] larger retailers are at an advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With more-consistent cash flow generation thanks to a stronger product pipeline in recent years, we think a medium uncertainty rating is appropriate for Boston.",
    "output": "[Cause] more-consistent cash flow generation thanks to a stronger product pipeline in recent years [Relation] cause [Effect] a medium uncertainty rating is appropriate for Boston",
    "gold": "[Cause] more-consistent cash flow generation thanks to a stronger product pipeline in recent years [Relation] cause [Effect] a medium uncertainty rating is appropriate for Boston",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of the strong customer growth, a higher allowed ROE for APS' Federal Energy Regulatory Commission-regulated transmission, and management's track record of cost control, we have a high level of confidence that regulatory lag will be minimal and Pinnacle West should earn its targeted return.",
    "output": "[Cause] the strong customer growth, a higher allowed ROE for APS' Federal Energy Regulatory Commission-regulated transmission, and management's track record of cost control [Relation] cause [Effect] we have a high level of confidence that regulatory lag will be minimal",
    "gold": "[Cause] the strong customer growth [Relation] cause [Effect] a higher allowed ROE for APS' Federal Energy Regulatory Commission-regulated transmission, and management's track record of cost control",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because of the strong customer growth, a higher allowed ROE for APS' Federal Energy Regulatory Commission-regulated transmission, and management's track record of cost control, we have a high level of confidence that regulatory lag will be minimal and Pinnacle West should earn its targeted return.",
    "output": "[Cause] a higher allowed ROE for APS' Federal Energy Regulatory Commission-regulated transmission, and management's track record of cost control [Relation] cause [Effect] regulatory lag will be minimal and Pinnacle West should earn its targeted return",
    "gold": "[Cause] a higher allowed ROE for APS' Federal Energy Regulatory Commission-regulated transmission, and management's track record of cost control [Relation] cause [Effect] regulatory lag will be minimal and Pinnacle West should earn its targeted return",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Online retailers have been increasing market share in the home improvement industry, eroding the benefits of distributors being aggregators of demand.",
    "output": "[Cause] Online retailers have been increasing market share in the home improvement industry [Relation] cause [Effect] eroding the benefits of distributors being aggregators of demand",
    "gold": "[Cause] Online retailers have been increasing market share in the home improvement industry [Relation] cause [Effect] eroding the benefits of distributors being aggregators of demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the research publishing and platforms segment (52% of fiscal 2020 revenue), the criticality of many of Wiley's journal publications has secured the standing of the company's offerings, while the relatively small audience for each individual title restricts upstarts' ability to profitably develop a competitor.",
    "output": "[Cause] the criticality of many of Wiley's journal publications [Relation] enable [Effect] secured the standing of the company's offerings",
    "gold": "[Cause] the criticality of many of Wiley's journal publications [Relation] cause [Effect] secured the standing of the company's offerings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the research publishing and platforms segment (52% of fiscal 2020 revenue), the criticality of many of Wiley's journal publications has secured the standing of the company's offerings, while the relatively small audience for each individual title restricts upstarts' ability to profitably develop a competitor.",
    "output": "[Cause] the relatively small audience for each individual title [Relation] prevent [Effect] upstarts' ability to profitably develop a competitor",
    "gold": "[Cause] the relatively small audience for each individual title [Relation] prevent [Effect] upstarts' ability to profitably develop a competitor",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also think CIBC is more at risk of disruption to its current returns because of its outsize exposure to the Canadian housing market, the largest of all the Canadian banks.",
    "output": "[Cause] its outsize exposure to the Canadian housing market, the largest of all the Canadian banks [Relation] cause [Effect] CIBC is more at risk of disruption to its current returns",
    "gold": "[Cause] its outsize exposure to the Canadian housing market, the largest of all the Canadian banks [Relation] cause [Effect] CIBC is more at risk of disruption to its current returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The stock is trading at a discount to our fair value, but because of our extreme uncertainty rating and solvency risks, we suggest investors remain on the sidelines.",
    "output": "[Cause] our extreme uncertainty rating and solvency risks [Relation] cause [Effect] we suggest investors remain on the sidelines",
    "gold": "[Cause] our extreme uncertainty rating and solvency risks [Relation] cause [Effect] we suggest investors remain on the sidelines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We look for adjusted total EBIT margin to recover 270 basis points in fiscal 2021, to 7.2%, on leverage from robust B2C volumes at ground, recovering B2B activity, and healthy international airfreight demand.",
    "output": "[Cause] robust B2C volumes at ground, recovering B2B activity, and healthy international airfreight demand [Relation] enable [Effect] adjusted total EBIT margin to recover 270 basis points in fiscal 2021, to 7.2%",
    "gold": "[Cause] robust B2C volumes at ground, recovering B2B activity, and healthy international airfreight demand [Relation] cause [Effect] adjusted total EBIT margin to recover 270 basis points in fiscal 2021, to 7.2%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The bank is also large enough to be subject to the Federal Reserve's annual stress tests, as well as a host of other regulatory requirements, and we don't see any massive regulatory relief coming for the large money center banks.",
    "output": "[Cause] The bank is also large enough to be subject to the Federal Reserve's annual stress tests, as well as a host of other regulatory requirements [Relation] cause [Effect] we don't see any massive regulatory relief coming for the large money center banks",
    "gold": "[Cause] The bank is also large enough to be subject to the Federal Reserve's annual stress tests, as well as a host of other regulatory requirements [Relation] cause [Effect]  we don't see any massive regulatory relief coming for the large money center banks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Graco's fourth-quarter sales and adjusted EPS both meaningfully surpassed our expectations thanks to stellar performance in the contractor segment, which grew its core revenue 33% year over year.",
    "output": "[Cause] stellar performance in the contractor segment [Relation] enable [Effect] Graco's fourth-quarter sales and adjusted EPS both meaningfully surpassed our expectations",
    "gold": "[Cause]  stellar performance in the contractor segment [Relation] cause [Effect] Graco's fourth-quarter sales and adjusted EPS both meaningfully surpassed our expectations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe fleet owners are willing to pay higher up-front prices if it means they'll save on fuel, maintenance, and repair costs over the life of a truck.",
    "output": "[Cause] fleet owners are willing to pay higher up-front prices [Relation] enable [Effect] they'll save on fuel, maintenance, and repair costs over the life of a truck",
    "gold": "[Cause]  fleet owners are willing to pay higher up-front prices [Relation] cause [Effect]  they'll save on fuel, maintenance, and repair costs over the life of a truck",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At the retail business, we expect normalized gross margins to level off near 20%, resulting in midcycle EBITDA near $1.1 billion.",
    "output": "[Cause] normalized gross margins to level off near 20% [Relation] cause [Effect] midcycle EBITDA near $1.1 billion",
    "gold": "[Cause] normalized gross margins to level off near 20% [Relation] cause [Effect] midcycle EBITDA near $1.1 billion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The complexity of these services creates switching costs, as the value of changing providers is not clear to customers and there is perceived value for the client in continuing to work with a broker that has experience in managing their risk.",
    "output": "[Cause] the value of changing providers is not clear to customers and there is perceived value for the client in continuing to work with a broker that has experience in managing their risk [Relation] cause [Effect] The complexity of these services creates switching costs",
    "gold": "[Cause] The complexity of these services [Relation] cause [Effect] switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Lockheed also faces the risk that supply chain issues or production challenges would prevent them from meeting their contractual obligations, which could strain the relationship with the customer.",
    "output": "[Cause] supply chain issues or production challenges [Relation] prevent [Effect] meeting their contractual obligations",
    "gold": "[Cause] supply chain issues or production challenges would prevent them from meeting their contractual obligations [Relation] cause [Effect] strain the relationship with the customer",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Lockheed also faces the risk that supply chain issues or production challenges would prevent them from meeting their contractual obligations, which could strain the relationship with the customer.",
    "output": "[Cause] supply chain issues or production challenges [Relation] prevent [Effect] meeting their contractual obligations",
    "gold": "[Cause] supply chain issues or production challenges [Relation] prevent [Effect] meeting their contractual obligations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lack of user growth, along with a big downturn in online ad spending, would force Twitter to burn cash, resulting in a much lower fair value estimate.",
    "output": "[Cause] Lack of user growth, along with a big downturn in online ad spending [Relation] cause [Effect] Twitter to burn cash",
    "gold": "[Cause] Lack of user growth, along with a big downturn in online ad spending [Relation] cause [Effect] Twitter to burn cash",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lack of user growth, along with a big downturn in online ad spending, would force Twitter to burn cash, resulting in a much lower fair value estimate.",
    "output": "[Cause] Twitter to burn cash [Relation] cause [Effect] a much lower fair value estimate",
    "gold": "[Cause] Twitter to burn cash [Relation] cause [Effect] a much lower fair value estimate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Currently, these contracts are accompanied by the presumptive right of renewal, which implies that they can be automatically renewed at expiration as long as Verisign abides by service requirements.",
    "output": "[Cause] Verisign abides by service requirements [Relation] cause [Effect] they can be automatically renewed at expiration",
    "gold": "[Cause]  Verisign abides by service requirements [Relation] cause [Effect] they can be automatically renewed at expiration",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "One of Intesa's key strategies has been to focus on noninterest revenue growth ahead of more capital-intensive margin income; this will support fee income growth.",
    "output": "[Cause] focus on noninterest revenue growth ahead of more capital-intensive margin income [Relation] enable [Effect] support fee income growth",
    "gold": "[Cause] focus on noninterest revenue growth ahead of more capital-intensive margin income [Relation] enable [Effect] support fee income growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm is not resting on its laurels, either; it recently introduced a kit to enable $600 genomes and aims to enable a $100 genome in the foreseeable future, which could expand those advantages and applications for genetic testing even further.",
    "output": "[Cause] it recently introduced a kit to enable $600 genomes and aims to enable a $100 genome in the foreseeable future [Relation] enable [Effect] expand those advantages and applications for genetic testing even further",
    "gold": "[Cause] it recently introduced a kit to enable $600 genomes and aims to enable a $100 genome in the foreseeable future [Relation] cause [Effect] expand those advantages and applications for genetic testing even further",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Square's suite of offerings, quick startup time, and simplified pricing will allow it to attract enough merchants above the $125,000 level to scale and reach an attractive overall return.",
    "output": "[Cause] Square's suite of offerings, quick startup time, and simplified pricing [Relation] enable [Effect] attract enough merchants above the $125,000 level to scale and reach an attractive overall return",
    "gold": "[Cause] Square's suite of offerings, quick startup time, and simplified pricing [Relation] enable [Effect] attract enough merchants above the $125,000 level to scale and reach an attractive overall return",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This planning means the supplier gets into planning a vehicle early enough to offer the best design and integration into the vehicle's floor so as to reduce weight while also lining up its own supply chain to offer the best cost savings to the OEM.",
    "output": "[Cause] the supplier gets into planning a vehicle early enough [Relation] enable [Effect] offer the best design and integration into the vehicle's floor",
    "gold": "[Cause]  the supplier gets into planning a vehicle early enough [Relation] enable [Effect] offer the best design and integration into the vehicle's floor",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This planning means the supplier gets into planning a vehicle early enough to offer the best design and integration into the vehicle's floor so as to reduce weight while also lining up its own supply chain to offer the best cost savings to the OEM.",
    "output": "[Cause] the supplier gets into planning a vehicle early enough [Relation] enable [Effect] offer the best design and integration into the vehicle's floor",
    "gold": "[Cause] offer the best design and integration into the vehicle's floor [Relation] enable [Effect]  reduce weight while also lining up its own supply chain to offer the best cost savings to the OEM",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Demand for Invitation Homes' portfolio is also driven by the employment opportunities in the company's core markets, which makes the portfolio sensitive to any changes to the economies of these markets.",
    "output": "[Cause] Demand for Invitation Homes' portfolio is also driven by the employment opportunities in the company's core markets [Relation] cause [Effect] the portfolio sensitive to any changes to the economies of these markets",
    "gold": "[Cause] Demand for Invitation Homes' portfolio is also driven by the employment opportunities in the company's core markets [Relation] cause [Effect]  the portfolio sensitive to any changes to the economies of these markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Demand for Invitation Homes' portfolio is also driven by the employment opportunities in the company's core markets, which makes the portfolio sensitive to any changes to the economies of these markets.",
    "output": "[Cause] Demand for Invitation Homes' portfolio is also driven by the employment opportunities in the company's core markets [Relation] cause [Effect] the portfolio sensitive to any changes to the economies of these markets",
    "gold": "[Cause] the employment opportunities in the company's core markets [Relation] enable [Effect] Demand for Invitation Homes' portfolio",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This virtuous cycle of intangible assets brought by heavy R&D and cost advantages brought by better PPA reinforce each other, preventing smaller peers catching up, in our view.",
    "output": "[Cause] This virtuous cycle of intangible assets brought by heavy R&D and cost advantages brought by better PPA reinforce each other [Relation] prevent [Effect] smaller peers catching up",
    "gold": "[Cause] This virtuous cycle of intangible assets brought by heavy R&D and cost advantages brought by better PPA reinforce each other [Relation] prevent [Effect]  smaller peers catching up",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Waste industry leader Waste Management enjoys leading market share and unmatched dominance in landfill ownership, which is nearly impossible to replicate given immense regulatory hurdles.",
    "output": "[Cause] immense regulatory hurdles [Relation] cause [Effect] nearly impossible to replicate",
    "gold": "[Cause]  immense regulatory hurdles [Relation] cause [Effect]  nearly impossible to replicate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Second, military program development is lengthy and expensive, so a would-be competitor would need to accept material sunk costs ranging from the time spent developing a prototype to pitch for a contract to the challenge of developing a workforce that has the required security clearances to enter the space.",
    "output": "[Cause] military program development is lengthy and expensive [Relation] cause [Effect] a would-be competitor would need to accept material sunk costs ranging from the time spent developing a prototype to pitch for a contract to the challenge of developing a workforce that has the required security clearances to enter the space",
    "gold": "[Cause] a would-be competitor would need to accept material sunk costs ranging from the time spent developing a prototype to pitch for a contract to the challenge of developing a workforce that has the required security clearances to enter the space [Relation] cause [Effect] military program development is lengthy and expensive",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To manage the volatility associated with its raw material costs, Carpenter uses pricing surcharges, indexing mechanisms, and base price adjustments.",
    "output": "[Cause] Carpenter uses pricing surcharges, indexing mechanisms, and base price adjustments [Relation] enable [Effect] manage the volatility associated with its raw material costs",
    "gold": "[Cause] Carpenter uses pricing surcharges, indexing mechanisms, and base price adjustments [Relation] cause [Effect] manage the volatility associated with its raw material costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The powertrain business is solid, given customers typically purchase engines and components from a single supplier to limit maintenance and repair costs.",
    "output": "[Cause] customers typically purchase engines and components from a single supplier to limit maintenance and repair costs [Relation] cause [Effect] The powertrain business is solid",
    "gold": "[Cause] customers typically purchase engines and components from a single supplier to limit maintenance and repair costs [Relation] cause [Effect] The powertrain business is solid",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With manufacturing rapidly brought to a massive scale, we think Moderna's technology platform could be applied in numerous areas but looks particularly promising and well validated in other prophylactic vaccine markets.",
    "output": "[Cause] manufacturing rapidly brought to a massive scale [Relation] cause [Effect] Moderna's technology platform could be applied in numerous areas",
    "gold": "[Cause] manufacturing rapidly brought to a massive scale [Relation] enable [Effect] Moderna's technology platform could be applied in numerous areas",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm squares off against a variety of well-established players, such as Texas Instruments and Infineon, and we expect pressure to capture new greenfield opportunities will require the firm to maintain its high level of investment, limiting sustained margin expansion.",
    "output": "[Cause] pressure to capture new greenfield opportunities [Relation] cause [Effect] require the firm to maintain its high level of investment, limiting sustained margin expansion",
    "gold": "[Cause] the firm to maintain its high level of investment [Relation] enable [Effect] limiting sustained margin expansion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Through its ownership in Enable Midstream Partners, the company is exposed to fluctuations in the price of natural gas and natural gas liquids.",
    "output": "[Cause] its ownership in Enable Midstream Partners [Relation] cause [Effect] the company is exposed to fluctuations in the price of natural gas and natural gas liquids",
    "gold": "[Cause]  its ownership in Enable Midstream Partners [Relation] cause [Effect] the company is exposed to fluctuations in the price of natural gas and natural gas liquids",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A protracted downturn could also affect the financial services segment, making lending more costly and the ability to securitize receivables increasingly difficult.",
    "output": "[Cause] A protracted downturn [Relation] cause [Effect] affect the financial services segment",
    "gold": "[Cause] A protracted downturn could also affect the financial services segment [Relation] cause [Effect]  lending more costly",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Lululemon offers free yoga and other fitness classes in many of its stores. These popular classes increase customer goodwill and encourage its primary demographic of women interested in yoga and fitness to visit its stores on a frequent basis.",
    "output": "[Cause] Lululemon offers free yoga and other fitness classes in many of its stores [Relation] enable [Effect] increase customer goodwill and encourage its primary demographic of women interested in yoga and fitness to visit its stores on a frequent basis",
    "gold": "[Cause] Lululemon offers free yoga and other fitness classes in many of its stores [Relation] cause [Effect] increase customer goodwill and encourage its primary demographic of women interested in yoga and fitness to visit its stores on a frequent basis",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Cognizant can reaccelerate top-line growth, given increased investments in the cutting edge of enterprise digital IT and a gradual expansion of its strategic consulting business.",
    "output": "[Cause] increased investments in the cutting edge of enterprise digital IT and a gradual expansion of its strategic consulting business [Relation] cause [Effect] Cognizant can reaccelerate top-line growth",
    "gold": "[Cause] increased investments in the cutting edge of enterprise digital IT and a gradual expansion of its strategic consulting business [Relation] enable [Effect] Cognizant can reaccelerate top-line growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect 1% long-term growth in refrigerated retail, as strong growth of Bob Evans refrigerated sides (a fresh alternative to processed, shelf-stable side dishes, with the added convenience of being already prepared) is offset by slower growth in cheese, egg, and sausage categories.",
    "output": "[Cause] strong growth of Bob Evans refrigerated sides (a fresh alternative to processed, shelf-stable side dishes, with the added convenience of being already prepared) is offset by slower growth in cheese, egg, and sausage categories [Relation] cause [Effect] 1% long-term growth in refrigerated retail",
    "gold": "[Cause] strong growth of Bob Evans refrigerated sides (a fresh alternative to processed, shelf-stable side dishes, with the added convenience of being already prepared) is offset by slower growth in cheese, egg, and sausage categories [Relation] enable [Effect] 1% long-term growth in refrigerated retail",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To the extent that a particular private-label product can support economic profit on the basis of its trademark, these rents would accrue disproportionately to the retailer, as the latter moonlights as the brand owner in the world of private label.",
    "output": "[Cause] the latter moonlights as the brand owner in the world of private label [Relation] cause [Effect] rents would accrue disproportionately to the retailer",
    "gold": "[Cause] the latter moonlights as the brand owner in the world of private label [Relation] cause [Effect]  rents would accrue disproportionately to the retailer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "When linerboard prices are high, market entry via greenfield OCC mills or the conversion of aged paper assets into recycled linerboard facilities becomes increasingly attractive.",
    "output": "[Cause] linerboard prices are high [Relation] cause [Effect] market entry via greenfield OCC mills or the conversion of aged paper assets into recycled linerboard facilities becomes increasingly attractive",
    "gold": "[Cause] linerboard prices are high [Relation] enable [Effect] market entry via greenfield OCC mills or the conversion of aged paper assets into recycled linerboard facilities becomes increasingly attractive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "BB&amp;T was the larger of the two franchises, and we see material cost savings and therefore operating improvements from the merger.",
    "output": "[Cause] the merger [Relation] cause [Effect] material cost savings",
    "gold": "[Cause] the merger [Relation] enable [Effect]  material cost savings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "BB&amp;T was the larger of the two franchises, and we see material cost savings and therefore operating improvements from the merger.",
    "output": "[Cause] the merger [Relation] cause [Effect] material cost savings",
    "gold": "[Cause]  material cost savings [Relation] cause [Effect] operating improvements",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Bancorp is the largest regional bank that is also small enough to avoid being labeled a GSIB. Therefore, we believe the bank arguably has one of the best relative regulatory cost positions among the regionals we cover.",
    "output": "[Cause] Bancorp is the largest regional bank that is also small enough to avoid being labeled a GSIB [Relation] cause [Effect] the bank arguably has one of the best relative regulatory cost positions among the regionals we cover",
    "gold": "[Cause] Bancorp is the largest regional bank that is also small enough to avoid being labeled a GSIB [Relation] cause [Effect]  the bank arguably has one of the best relative regulatory cost positions among the regionals we cover",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Malibu holds patents on seven of its proprietary innovations, including the Surf Gate and Power Wedge technologies, both of which are key to its success with wake-sport enthusiasts (as evidenced by the continued persistent growth in market share).",
    "output": "[Cause] the Surf Gate and Power Wedge technologies [Relation] enable [Effect] its success with wake-sport enthusiasts",
    "gold": "[Cause] the Surf Gate and Power Wedge technologies [Relation] enable [Effect] its success with wake-sport enthusiasts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assign Aecom a high uncertainty rating as E&C firms have to contend with a high degree of cyclicality and face the risk of large losses on individual projects, often due to factors largely beyond their control.",
    "output": "[Cause] factors largely beyond their control [Relation] cause [Effect] E&C firms have to contend with a high degree of cyclicality and face the risk of large losses on individual projects",
    "gold": "[Cause] factors largely beyond their control [Relation] cause [Effect] E&C firms have to contend with a high degree of cyclicality and face the risk of large losses on individual projects",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assign Aecom a high uncertainty rating as E&C firms have to contend with a high degree of cyclicality and face the risk of large losses on individual projects, often due to factors largely beyond their control.",
    "output": "[Cause] factors largely beyond their control [Relation] cause [Effect] face the risk of large losses on individual projects",
    "gold": "[Cause] E&C firms have to contend with a high degree of cyclicality and face the risk of large losses on individual projects [Relation] cause [Effect] We assign Aecom a high uncertainty rating",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Tapestry increasingly depends on greater China for profits and growth, so any slowdown in consumer spending in the region would have an adverse effect.",
    "output": "[Cause] Tapestry increasingly depends on greater China for profits and growth [Relation] cause [Effect] any slowdown in consumer spending in the region would have an adverse effect",
    "gold": "[Cause] Tapestry increasingly depends on greater China for profits and growth [Relation] cause [Effect]  any slowdown in consumer spending in the region would have an adverse effect",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nordson's penchant for M&amp;A creates acquisition risk, as an M&amp;A-heavy capital allocation strategy can depress returns on invested capital by adding goodwill and assets to a firm's capital base.",
    "output": "[Cause] Nordson's penchant for M&amp;A [Relation] cause [Effect] acquisition risk",
    "gold": "[Cause] A-heavy capital allocation strategy can | adding goodwill and assets to a firm's capital base [Relation] enable [Effect] depress returns on invested capital",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nordson's penchant for M&amp;A creates acquisition risk, as an M&amp;A-heavy capital allocation strategy can depress returns on invested capital by adding goodwill and assets to a firm's capital base.",
    "output": "[Cause] Nordson's penchant for M&amp;A [Relation] cause [Effect] acquisition risk",
    "gold": "[Cause] depress returns on invested capital [Relation] enable [Effect] Nordson's penchant for M&amp;A creates acquisition risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our longer-term revenue growth forecast assumes 4%-5% annual comp growth (owing to improved franchisee unit economics stemming from inflationary price increases, carryout expansion efforts, and continued loyalty program marketing) and 6% unit growth as the firm continues to build store density and improve delivery speeds.",
    "output": "[Cause] improved franchisee unit economics stemming from inflationary price increases, carryout expansion efforts, and continued loyalty program marketing [Relation] cause [Effect] Our longer-term revenue growth forecast assumes 4%-5% annual comp growth",
    "gold": "[Cause]  the firm continues to build store density and improve delivery speeds [Relation] cause [Effect]  6% unit growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our longer-term revenue growth forecast assumes 4%-5% annual comp growth (owing to improved franchisee unit economics stemming from inflationary price increases, carryout expansion efforts, and continued loyalty program marketing) and 6% unit growth as the firm continues to build store density and improve delivery speeds.",
    "output": "[Cause] improved franchisee unit economics stemming from inflationary price increases, carryout expansion efforts, and continued loyalty program marketing [Relation] cause [Effect] 4%-5% annual comp growth",
    "gold": "[Cause] improved franchisee unit economics stemming from inflationary price increases, carryout expansion efforts, and continued loyalty program marketing [Relation] cause [Effect] 4%-5% annual comp growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the company has achieved higher operating margins relative to its competitors throughout business cycles in the past, in future we believe the gap between Fanuc's and its competitors' operating margins will gradually diminish over the long term. This can be mainly attributed to 2 factors: 1) the company's shift toward focusing on the ability to provide stable supply of products rather than centralized production, and 2) likelihood of competitors' ability to undermine Fanuc's higher margins.",
    "output": "[Cause] 1) the company's shift toward focusing on the ability to provide stable supply of products rather than centralized production, and 2) likelihood of competitors' ability to undermine Fanuc's higher margins [Relation] cause [Effect] While the company has achieved higher operating margins relative to its competitors throughout business cycles in the past, in future we believe the gap between Fanuc's and its competitors' operating margins will gradually diminish over the long term",
    "gold": "[Cause] 1) the company's shift toward focusing on the ability to provide stable supply of products rather than centralized production, and 2) likelihood of competitors' ability to undermine Fanuc's higher margins [Relation] cause [Effect] While the company has achieved higher operating margins relative to its competitors throughout business cycles in the past, in future we believe the gap between Fanuc's and its competitors' operating margins will gradually diminish over the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also know that general consumer inflation is not necessarily indicative of the economics of a business, as input cost inflation can diverge materially from these broader metrics.",
    "output": "[Cause] input cost inflation can diverge materially from these broader metrics [Relation] cause [Effect] general consumer inflation is not necessarily indicative of the economics of a business",
    "gold": "[Cause]  input cost inflation can diverge materially from these broader metrics [Relation] enable [Effect] general consumer inflation is not necessarily indicative of the economics of a business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Capital One's customers reacted to the economic uncertainty of the pandemic by increasing savings and paying off credit card debt.",
    "output": "[Cause] increasing savings and paying off credit card debt [Relation] enable [Effect] Capital One's customers reacted to the economic uncertainty of the pandemic",
    "gold": "[Cause]  the economic uncertainty of the pandemic [Relation] cause [Effect] increasing savings and paying off credit card debt",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company seeks $2,000 profit on each vehicle regardless of make or age, so value vehicles can have very high margins.",
    "output": "[Cause] The company seeks $2,000 profit on each vehicle regardless of make or age [Relation] cause [Effect] value vehicles can have very high margins",
    "gold": "[Cause] The company seeks $2,000 profit on each vehicle regardless of make or age [Relation] cause [Effect] value vehicles can have very high margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Burlington can lift margins, but we believe prospects are limited by competition, the need to keep value high (necessitating reinvestment of savings from cost leverage), and rising wages.",
    "output": "[Cause] competition, the need to keep value high (necessitating reinvestment of savings from cost leverage), and rising wages [Relation] cause [Effect] prospects are limited",
    "gold": "[Cause]  competition, the need to keep value high (necessitating reinvestment of savings from cost leverage), and rising wages [Relation] cause [Effect] prospects are limited",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although national accounts can generate lower gross profit margins, they also generate much higher volume, which Grainger can leverage to improve operating margins.",
    "output": "[Cause] they also generate much higher volume [Relation] enable [Effect] Grainger can leverage to improve operating margins",
    "gold": "[Cause] they also generate much higher volume [Relation] cause [Effect] Grainger can leverage to improve operating margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, we expect Mosaic's potash unit production costs on a cash basis to decline from just below $90 per metric ton in 2019 to under $60 in 2025, which should boost potash profits.",
    "output": "[Cause] Mosaic's potash unit production costs on a cash basis to decline from just below $90 per metric ton in 2019 to under $60 in 2025 [Relation] cause [Effect] boost potash profits",
    "gold": "[Cause] Mosaic's potash unit production costs on a cash basis to decline from just below $90 per metric ton in 2019 to under $60 in 2025 [Relation] cause [Effect] boost potash profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thus, the riders on the platform benefit as more drivers are added, and existing drivers benefit from more riders, making the driver's utilization even more efficient.",
    "output": "[Cause] more drivers are added [Relation] cause [Effect] the riders on the platform benefit",
    "gold": "[Cause] more drivers are added [Relation] enable [Effect] the riders on the platform benefit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thus, the riders on the platform benefit as more drivers are added, and existing drivers benefit from more riders, making the driver's utilization even more efficient.",
    "output": "[Cause] existing drivers benefit from more riders [Relation] enable [Effect] the driver's utilization even more efficient",
    "gold": "[Cause] more riders [Relation] enable [Effect] existing drivers benefit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "There's potential for a considerable amount of internal upheaval to be created when stretching R&D, engineering, component suppliers, supply-chain logistics, vehicle architectures, corporate functions, and capacity with the growth targets set by management to globally expand.",
    "output": "[Cause] stretching R&D, engineering, component suppliers, supply-chain logistics, vehicle architectures, corporate functions, and capacity with the growth targets set by management to globally expand [Relation] cause [Effect] There's potential for a considerable amount of internal upheaval to be created",
    "gold": "[Cause] stretching R&D, engineering, component suppliers, supply-chain logistics, vehicle architectures, corporate functions, and capacity with the growth targets set by management to globally expand [Relation] cause [Effect] There's potential for a considerable amount of internal upheaval to be created",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Server virtualization saw astronomical growth for a period of nearly 10 years before abruptly stalling as penetration was quickly saturated.",
    "output": "[Cause] penetration was quickly saturated [Relation] cause [Effect] abruptly stalling",
    "gold": "[Cause] penetration was quickly saturated [Relation] cause [Effect] abruptly stalling",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Baidu has the urgency to strengthen its mobile business because it has not developed another industry-leading business other than its mobile search app for years.",
    "output": "[Cause] it has not developed another industry-leading business other than its mobile search app for years [Relation] cause [Effect] Baidu has the urgency to strengthen its mobile business",
    "gold": "[Cause]  it has not developed another industry-leading business other than its mobile search app for years [Relation] cause [Effect] Baidu has the urgency to strengthen its mobile business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, given that its rivals are traditional banks with cheaper deposit funding, Discover is at a cost disadvantage and much more vulnerable to a rising rate environment.",
    "output": "[Cause] its rivals are traditional banks with cheaper deposit funding [Relation] cause [Effect] Discover is at a cost disadvantage and much more vulnerable to a rising rate environment",
    "gold": "[Cause] its rivals are traditional banks with cheaper deposit funding [Relation] cause [Effect] Discover is at a cost disadvantage and much more vulnerable to a rising rate environment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate further growth of 10% in fiscal 2022 and 8% average annual growth thereafter, as Qorvo will still prosper in its infrastructure and defense products, or IDP, business from content gains in the early innings of 5G adoption.",
    "output": "[Cause] Qorvo will still prosper in its infrastructure and defense products, or IDP, business from content gains in the early innings of 5G adoption [Relation] cause [Effect] further growth of 10% in fiscal 2022 and 8% average annual growth thereafter",
    "gold": "[Cause] Qorvo will still prosper in its infrastructure and defense products, or IDP, business from content gains in the early innings of 5G adoption [Relation] enable [Effect] further growth of 10% in fiscal 2022 and 8% average annual growth thereafter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, we anticipate that the price differences between organic and conventional produce will fall as supply of the former rises, and that traditional retailers should be able to replicate Sprouts' sourcing opportunities.",
    "output": "[Cause] supply of the former rises [Relation] cause [Effect] the price differences between organic and conventional produce will fall",
    "gold": "[Cause] supply of the former rises [Relation] cause [Effect] the price differences between organic and conventional produce will fall",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, we anticipate that the price differences between organic and conventional produce will fall as supply of the former rises, and that traditional retailers should be able to replicate Sprouts' sourcing opportunities.",
    "output": "[Cause] supply of the former rises [Relation] cause [Effect] the price differences between organic and conventional produce will fall",
    "gold": "[Cause] supply of the former rises [Relation] enable [Effect] traditional retailers should be able to replicate Sprouts' sourcing opportunities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A figure that we believe supports this and demonstrates the increase in vehicle capacity utilization is growth in average number of rides dispatched per unique Uber vehicle, which has been increasing gradually from 2015 through 2018.",
    "output": "[Cause] growth in average number of rides dispatched per unique Uber vehicle [Relation] enable [Effect] the increase in vehicle capacity utilization",
    "gold": "[Cause] A figure | has been increasing gradually from 2015 through 2018 [Relation] enable [Effect] supports this and demonstrates the increase in vehicle capacity utilization is growth in average number of rides dispatched per unique Uber vehicle",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we recognize that Church & Dwight could face product recalls that may prove costly and/or impinge on its brand intangible assets.",
    "output": "[Cause] Church & Dwight could face product recalls [Relation] cause [Effect] costly and/or impinge on its brand intangible assets",
    "gold": "[Cause]  Church & Dwight could face product recalls [Relation] cause [Effect] costly and/or impinge on its brand intangible assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fewer travelers mean that airlines run fewer flights, which ultimately means that aircraft undergo fewer maintenance cycles, which directly challenges the company's flight support group.",
    "output": "[Cause] Fewer travelers [Relation] cause [Effect] airlines run fewer flights",
    "gold": "[Cause] Fewer travelers [Relation] cause [Effect] airlines run fewer flights",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fewer travelers mean that airlines run fewer flights, which ultimately means that aircraft undergo fewer maintenance cycles, which directly challenges the company's flight support group.",
    "output": "[Cause] aircraft undergo fewer maintenance cycles [Relation] cause [Effect] directly challenges the company's flight support group",
    "gold": "[Cause] airlines run fewer flights [Relation] cause [Effect] aircraft undergo fewer maintenance cycles",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "When that runs out it will have to go back to the legacy area, where unit revenues are weaker due to the low oil content. As a result, its margins over the next 10 years are not expected to be as competitive as those of its peers that primarily operate in core areas.",
    "output": "[Cause] When that runs out it will have to go back to the legacy area, where unit revenues are weaker due to the low oil content [Relation] cause [Effect] its margins over the next 10 years are not expected to be as competitive as those of its peers that primarily operate in core areas",
    "gold": "[Cause] When that runs out it will have to go back to the legacy area, where unit revenues are weaker due to the low oil content [Relation] cause [Effect] its margins over the next 10 years are not expected to be as competitive as those of its peers that primarily operate in core areas",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These three have large revenue that allows them to pump massive investment into research and development to continuously innovate their sensors for cutting-edge smartphone cameras, and we think it would be incredibly difficult for a new entrant to compete.",
    "output": "[Cause] These three have large revenue that allows them to pump massive investment into research and development to continuously innovate their sensors for cutting-edge smartphone cameras [Relation] cause [Effect] it would be incredibly difficult for a new entrant to compete",
    "gold": "[Cause] allows them to pump massive investment into research and development to continuously innovate their sensors [Relation] enable [Effect] cutting-edge smartphone cameras",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Charter also operates with a fairly heavy debt load, which can cause its shares to respond sharply to changes in the business or general market volatility.",
    "output": "[Cause] Charter also operates with a fairly heavy debt load [Relation] cause [Effect] its shares to respond sharply to changes in the business or general market volatility",
    "gold": "[Cause] Charter also operates with a fairly heavy debt load [Relation] cause [Effect] its shares to respond sharply to changes in the business or general market volatility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite these low margins, the company has historically generated ROICs of 15-20% largely due to scale and growth driven by strong drug price inflation and increases in therapies.",
    "output": "[Cause] scale and growth [Relation] cause [Effect] the company has historically generated ROICs of 15-20%",
    "gold": "[Cause] strong drug price inflation and increases in therapies [Relation] cause [Effect] scale and growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A rival would need to undercut SBA's prices by that much more to make up for the loss carriers would be facing in deciding to switch, further impeding a competitor's prospects of generating excess returns.",
    "output": "[Cause] A rival would need to undercut SBA's prices by that much more [Relation] enable [Effect] make up for the loss carriers would be facing in deciding to switch",
    "gold": "[Cause] A rival would need to undercut SBA's prices by that much more [Relation] enable [Effect] make up for the loss carriers would be facing in deciding to switch",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Within its target markets, HCA aims to expand market share through a variety of strategies to attract patients, physicians, and third-party payers.",
    "output": "[Cause] a variety of strategies [Relation] enable [Effect] expand market share",
    "gold": "[Cause] a variety of strategies [Relation] enable [Effect] expand market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Within its target markets, HCA aims to expand market share through a variety of strategies to attract patients, physicians, and third-party payers.",
    "output": "[Cause] a variety of strategies [Relation] enable [Effect] expand market share",
    "gold": "[Cause] expand market share [Relation] cause [Effect] attract patients, physicians, and third-party payers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Longer term (between 2022 and 2024), we think the firm can post 5%-6% average net revenue growth, as benefits from the network effect support share gains.",
    "output": "[Cause] benefits from the network effect support share gains [Relation] cause [Effect] Longer term (between 2022 and 2024), we think the firm can post 5%-6% average net revenue growth",
    "gold": "[Cause] benefits from the network effect support share gains [Relation] cause [Effect] Longer term (between 2022 and 2024), we think the firm can post 5%-6% average net revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Pressure in the television business has limited revenue growth, but the firm generates consistent cash flow, enabling it to return capital to shareholders and pursue acquisition opportunities, limited as they are.",
    "output": "[Cause] Pressure in the television business [Relation] prevent [Effect] revenue growth",
    "gold": "[Cause] Pressure in the television business [Relation] prevent [Effect] revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Pressure in the television business has limited revenue growth, but the firm generates consistent cash flow, enabling it to return capital to shareholders and pursue acquisition opportunities, limited as they are.",
    "output": "[Cause] the firm generates consistent cash flow [Relation] enable [Effect] it to return capital to shareholders and pursue acquisition opportunities, limited as they are",
    "gold": "[Cause]  the firm generates consistent cash flow [Relation] enable [Effect]  it to return capital to shareholders and pursue acquisition opportunities, limited as they are",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Delaying some smaller projects scheduled for 2020 could help reduce regulatory lag and push off a rate case into 2022.",
    "output": "[Cause] Delaying some smaller projects scheduled for 2020 [Relation] enable [Effect] reduce regulatory lag and push off a rate case into 2022",
    "gold": "[Cause] Delaying some smaller projects scheduled for 2020 [Relation] enable [Effect] reduce regulatory lag and push off a rate case into 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Many small business owners are choosing to exit or sell because they cannot get the scale on a variety of expenses compared with large dealer groups.",
    "output": "[Cause] they cannot get the scale on a variety of expenses compared with large dealer groups [Relation] cause [Effect] Many small business owners are choosing to exit or sell",
    "gold": "[Cause]  they cannot get the scale on a variety of expenses compared with large dealer groups [Relation] cause [Effect] Many small business owners are choosing to exit or sell",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect revenue per customer will return to solid growth, as the shift to unsubsidized rate plans has neared an end.",
    "output": "[Cause] the shift to unsubsidized rate plans has neared an end [Relation] cause [Effect] revenue per customer will return to solid growth",
    "gold": "[Cause] the shift to unsubsidized rate plans has neared an end [Relation] cause [Effect] revenue per customer will return to solid growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project that while Pandora will slowly expand its subscriber base over the next five years, the segment will continue to lose money as royalty payments will remain a drag on operating income generation.",
    "output": "[Cause] royalty payments will remain a drag on operating income generation [Relation] cause [Effect] the segment will continue to lose money",
    "gold": "[Cause] We project that while Pandora will slowly expand its subscriber base over the next five years, [Relation] enable [Effect]  the segment will continue to lose money as royalty payments will remain a drag on operating income generation.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For the full year, we see a double-digit comp-store sales increase that is boosted by the limited number of stores operating during the earlier part of the pandemic, along with a robust increase in direct-to-consumer sales, as customers continue to choose more socially distanced options.",
    "output": "[Cause] customers continue to choose more socially distanced options [Relation] cause [Effect] a robust increase in direct-to-consumer sales",
    "gold": "[Cause] the limited number of stores operating during the earlier part of the pandemic, along with a robust increase in direct-to-consumer sales, as customers continue to choose more socially distanced options [Relation] cause [Effect] a double-digit comp-store sales increase that is boosted",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, projects like liquid natural gas, or LNG, with long-plateau production levels that require little additional capital expenditure, help reduce decline rates while generating significant free cash flow to support reinvestment elsewhere or shareholder returns.",
    "output": "[Cause] projects like liquid natural gas, or LNG, with long-plateau production levels that require little additional capital expenditure [Relation] enable [Effect] reduce decline rates while generating significant free cash flow",
    "gold": "[Cause] projects like liquid natural gas, or LNG, with long-plateau production levels that require little additional capital expenditure [Relation] enable [Effect]  reduce decline rates while generating significant free cash flow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're expecting a leisure-led recovery in commercial aviation, reflecting customers being more willing to visit friends and family and vacation in a pandemic than they are to go on business travel.",
    "output": "[Cause] customers being more willing to visit friends and family and vacation in a pandemic than they are to go on business travel [Relation] cause [Effect] a leisure-led recovery in commercial aviation",
    "gold": "[Cause] customers being more willing to visit friends and family and vacation in a pandemic than they are to go on business travel [Relation] cause [Effect] a leisure-led recovery in commercial aviation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Unconstructive regulatory decisions are more likely in periods of rising electricity rates, which could occur if power prices rise while Evergy retires coal plants.",
    "output": "[Cause] power prices rise while Evergy retires coal plants [Relation] cause [Effect] Unconstructive regulatory decisions are more likely in periods of rising electricity rates",
    "gold": "[Cause] power prices rise while Evergy retires coal plants [Relation] cause [Effect] Unconstructive regulatory decisions are more likely in periods of rising electricity rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The segment benefited from robust demand for residential products as people have been spending more time at home due to the coronavirus pandemic, and more consumers decided to build new pools or to upgrade their existing pools.",
    "output": "[Cause] people have been spending more time at home due to the coronavirus pandemic [Relation] cause [Effect] The segment benefited from robust demand for residential products",
    "gold": "[Cause] more consumers decided to build new pools or to upgrade their existing pools |  people have been spending more time at home due to the coronavirus pandemic [Relation] enable [Effect] The segment benefited from robust demand for residential products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect Mosaic to increase its potash production over the next several years as the new K3 mine is ramped up to full capacity and global demand for potash continues to grow.",
    "output": "[Cause] the new K3 mine is ramped up to full capacity and global demand for potash continues to grow [Relation] cause [Effect] Mosaic to increase its potash production over the next several years",
    "gold": "[Cause] the new K3 mine is ramped up to full capacity and global demand for potash continues to grow [Relation] cause [Effect] Mosaic to increase its potash production over the next several years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the law nears expiration, we think bipartisan support for improved infrastructure should help bring a new long-term law in its place.",
    "output": "[Cause] the law nears expiration [Relation] cause [Effect] bipartisan support for improved infrastructure should help bring a new long-term law in its place",
    "gold": "[Cause] bipartisan support for improved infrastructure [Relation] enable [Effect] help bring a new long-term law in its place",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With manufacturing facilities located near demand (for example, personal watercraft in Mexico) and ongoing spending for further facility capacity (fall 2021 start), BRP continues to pursue efficiencies in its manufacturing process.",
    "output": "[Cause] manufacturing facilities located near demand (for example, personal watercraft in Mexico) and ongoing spending for further facility capacity (fall 2021 start) [Relation] enable [Effect] BRP continues to pursue efficiencies in its manufacturing process",
    "gold": "[Cause]  manufacturing facilities located near demand (for example, personal watercraft in Mexico) and ongoing spending for further facility capacity (fall 2021 start) [Relation] enable [Effect] BRP continues to pursue efficiencies in its manufacturing process",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the company's historical capital structure, which has relied heavily on balance sheet leverage, combined with the Federal-Mogul deal, we have assumed a 33% equity and a 67% debt capital weighting.",
    "output": "[Cause] the company's historical capital structure, which has relied heavily on balance sheet leverage, combined with the Federal-Mogul deal [Relation] cause [Effect] a 33% equity and a 67% debt capital weighting",
    "gold": "[Cause] the company's historical capital structure, which has relied heavily on balance sheet leverage, combined with the Federal-Mogul deal [Relation] enable [Effect] a 33% equity and a 67% debt capital weighting",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Once federal regulations are changed and interstate trade is permitted, there will be intense competition in the cannabis market as companies attempt to establish and strengthen their brands. This would create a highly competitive environment that would likely limit the potential return on marketing spend for any single brand.",
    "output": "[Cause] Once federal regulations are changed and interstate trade is permitted, there will be intense competition in the cannabis market as companies attempt to establish and strengthen their brands [Relation] cause [Effect] create a highly competitive environment that would likely limit the potential return on marketing spend for any single brand",
    "gold": "[Cause] Once federal regulations are changed and interstate trade is permitted, there will be intense competition in the cannabis market as companies attempt to establish and strengthen their brands [Relation] cause [Effect]  create a highly competitive environment that would likely limit the potential return on marketing spend for any single brand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Snap-on has acquired four precision torque tool manufacturers since 2016, it has become a leader in this niche field.",
    "output": "[Cause] Snap-on has acquired four precision torque tool manufacturers since 2016 [Relation] enable [Effect] it has become a leader in this niche field",
    "gold": "[Cause]  Snap-on has acquired four precision torque tool manufacturers since 2016 [Relation] enable [Effect] it has become a leader in this niche field",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With competition rising, we anticipate margins will be pressured long term, though improved pricing practices as well as supply chain, marketing, and distribution capabilities should help offset the strain, as should a growing private label portfolio and procurement leverage.",
    "output": "[Cause] competition rising [Relation] cause [Effect] margins will be pressured long term",
    "gold": "[Cause]  competition rising [Relation] enable [Effect]  margins will be pressured long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Many malls have suffered declines in customer traffic over the past few years and the COVID-19 crisis could accelerate mall closures.",
    "output": "[Cause] the COVID-19 crisis [Relation] cause [Effect] accelerate mall closures",
    "gold": "[Cause]  the COVID-19 crisis [Relation] cause [Effect] accelerate mall closures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although this competitive advantage would evaporate if ICANN were to end this contract, which would be catastrophic for VeriSign and its investors, we think the likelihood is remote.",
    "output": "[Cause] ICANN were to end this contract [Relation] cause [Effect] this competitive advantage would evaporate",
    "gold": "[Cause] ICANN were to end this contract [Relation] cause [Effect] this competitive advantage would evaporate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although this competitive advantage would evaporate if ICANN were to end this contract, which would be catastrophic for VeriSign and its investors, we think the likelihood is remote.",
    "output": "[Cause] ICANN were to end this contract [Relation] cause [Effect] this competitive advantage would evaporate",
    "gold": "[Cause] this competitive advantage would evaporate [Relation] cause [Effect] would be catastrophic for VeriSign and its investors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Most recently, Veeva Systems has expanded into other regulated industries outside of life sciences, including cosmetic and chemical companies, as these industries have some regulatory cross over.",
    "output": "[Cause] these industries have some regulatory cross over [Relation] cause [Effect] Veeva Systems has expanded into other regulated industries outside of life sciences, including cosmetic and chemical companies",
    "gold": "[Cause] these industries have some regulatory cross over [Relation] enable [Effect]  Veeva Systems has expanded into other regulated industries outside of life sciences, including cosmetic and chemical companies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that networking customers are reluctant to make vendor changes because of the potential downtime costs associated with adjusting existing trusted infrastructure providers.",
    "output": "[Cause] the potential downtime costs associated with adjusting existing trusted infrastructure providers [Relation] cause [Effect] networking customers are reluctant to make vendor changes",
    "gold": "[Cause] the potential downtime costs associated with adjusting existing trusted infrastructure providers [Relation] cause [Effect] networking customers are reluctant to make vendor changes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that the benefit of high-margin retransmission revenue will be offset by increased reverse compensation demands from the national broadcasters.",
    "output": "[Cause] increased reverse compensation demands from the national broadcasters [Relation] prevent [Effect] the benefit of high-margin retransmission revenue",
    "gold": "[Cause]  increased reverse compensation demands from the national broadcasters [Relation] prevent [Effect] the benefit of high-margin retransmission revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Enterprises utilizing virtual machines through a hypervisor, such as the industry gold standard ESXi by VMware, enjoy higher server utilization rates due to the software's ability to segment the hardware into multiple instances of itself.",
    "output": "[Cause] the software's ability to segment the hardware into multiple instances of itself [Relation] cause [Effect] Enterprises utilizing virtual machines through a hypervisor, such as the industry gold standard ESXi by VMware, enjoy higher server utilization rates",
    "gold": "[Cause] the software's ability to segment the hardware into multiple instances of itself [Relation] cause [Effect] Enterprises utilizing virtual machines through a hypervisor, such as the industry gold standard ESXi by VMware, enjoy higher server utilization rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Twilio's software routes calls/messages to the most cost-effective and fastest carrier, allowing for low-latency client communication at the lowest possible expense.",
    "output": "[Cause] Twilio's software routes calls/messages to the most cost-effective and fastest carrier [Relation] enable [Effect] low-latency client communication at the lowest possible expense",
    "gold": "[Cause] Twilio's software routes calls/messages to the most cost-effective and fastest carrier [Relation] enable [Effect]  low-latency client communication at the lowest possible expense",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Clorox is employing a tactical approach, anchored in investing in consumer-valued innovation supported by advertising, pursuing cost savings, and surgically taking price (with plans to raise prices in its Glad lineup beginning in July), which we view as prudent. As such, we aren't altering our long-term forecast for 3%-4% annual sales growth and operating margins approximating 20% by the end of the next 10 years (about 100 basis points north of the level achieved in fiscal 2020).",
    "output": "[Cause] Clorox is employing a tactical approach, anchored in investing in consumer-valued innovation supported by advertising, pursuing cost savings, and surgically taking price (with plans to raise prices in its Glad lineup beginning in July), which we view as prudent [Relation] cause [Effect] we aren't altering our long-term forecast for 3%-4% annual sales growth and operating margins approximating 20% by the end of the next 10 years (about 100 basis points north of the level achieved in fiscal 2020)",
    "gold": "[Cause] Clorox is employing a tactical approach, anchored in investing in consumer-valued innovation supported by advertising, pursuing cost savings, and surgically taking price (with plans to raise prices in its Glad lineup beginning in July), which we view as prudent [Relation] cause [Effect] we aren't altering our long-term forecast for 3%-4% annual sales growth and operating margins approximating 20% by the end of the next 10 years (about 100 basis points north of the level achieved in fiscal 2020)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result of the time spent implementing the platform and training necessary employees, businesses would be loath to switch to a different platform and undergo the process all over again.",
    "output": "[Cause] the time spent implementing the platform and training necessary employees [Relation] cause [Effect] businesses would be loath to switch to a different platform and undergo the process all over again",
    "gold": "[Cause] the time spent implementing the platform and training necessary employees [Relation] cause [Effect] businesses would be loath to switch to a different platform and undergo the process all over again",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The inability to use its most resonant trademark into completely greenfield opportunities places a ceiling on monetizing and entrenching its intangible assets, in our view.",
    "output": "[Cause] The inability to use its most resonant trademark into completely greenfield opportunities [Relation] cause [Effect] a ceiling on monetizing and entrenching its intangible assets",
    "gold": "[Cause] places a ceiling on monetizing and entrenching its intangible assets [Relation] cause [Effect] The inability to use its most resonant trademark into completely greenfield opportunities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We assume Dollar General's stores continue to remain open during the pandemic, with trade-down and Americans' turn homeward driving sales despite high unemployment.",
    "output": "[Cause] trade-down and Americans' turn homeward driving sales [Relation] cause [Effect] Dollar General's stores continue to remain open during the pandemic",
    "gold": "[Cause]  trade-down and Americans' turn homeward driving sales [Relation] enable [Effect] Dollar General's stores continue to remain open during the pandemic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nordstrom's full-price sales plummeted 30% in 2020 due to the COVID-19 outbreak and the closure of 16 stores, but we anticipate a 24% sales increase in 2021.",
    "output": "[Cause] the COVID-19 outbreak and the closure of 16 stores [Relation] cause [Effect] Nordstrom's full-price sales plummeted 30% in 2020",
    "gold": "[Cause]  the COVID-19 outbreak and the closure of 16 stores [Relation] cause [Effect] Nordstrom's full-price sales plummeted 30% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After fiscal 2020's pandemic-driven 4% drop in organic sales, we expect the metric to recover 12% in 2021 and 2022, as stores and salons reopen, social distancing mandates relax, and travel retail recovers.",
    "output": "[Cause] stores and salons reopen, social distancing mandates relax, and travel retail recovers [Relation] cause [Effect] the metric to recover 12% in 2021 and 2022",
    "gold": "[Cause] stores and salons reopen, social distancing mandates relax, and travel retail recovers [Relation] cause [Effect] the metric to recover 12% in 2021 and 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We would expect volume growth to slightly outpace global population growth, the excess being driven by increased coating use in emerging markets.",
    "output": "[Cause] increased coating use in emerging markets [Relation] cause [Effect] volume growth to slightly outpace global population growth",
    "gold": "[Cause] increased coating use in emerging markets [Relation] cause [Effect] volume growth to slightly outpace global population growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The global restaurant sector has come under pressure, as several markets have restricted dine-in service to curb the spread of the coronavirus.",
    "output": "[Cause] several markets have restricted dine-in service to curb the spread of the coronavirus [Relation] cause [Effect] The global restaurant sector has come under pressure",
    "gold": "[Cause]  several markets have restricted dine-in service to curb the spread of the coronavirus [Relation] cause [Effect] The global restaurant sector has come under pressure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Arrow is a linchpin between semiconductor vendors and its end-market customers, and is thus exposed to cyclicality on both sides.",
    "output": "[Cause] Arrow is a linchpin between semiconductor vendors and its end-market customers [Relation] cause [Effect] exposed to cyclicality on both sides",
    "gold": "[Cause] Arrow is a linchpin between semiconductor vendors and its end-market customers [Relation] cause [Effect] exposed to cyclicality on both sides",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we believe the following can be highlighted as potential risks: 1) lower-than-expected student enrolment rate due to intensified competition; 2) lower-than-expected tuition rate adjustment due to intensified competition; and 3) higher-than-expected teacher cost due to intensified competition for online education.",
    "output": "[Cause] intensified competition for online education [Relation] cause [Effect] higher-than-expected teacher cost",
    "gold": "[Cause] intensified competition [Relation] cause [Effect] lower-than-expected tuition rate adjustment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we believe the following can be highlighted as potential risks: 1) lower-than-expected student enrolment rate due to intensified competition; 2) lower-than-expected tuition rate adjustment due to intensified competition; and 3) higher-than-expected teacher cost due to intensified competition for online education.",
    "output": "[Cause] intensified competition for online education [Relation] cause [Effect] higher-than-expected teacher cost",
    "gold": "[Cause] intensified competition for online education [Relation] cause [Effect] higher-than-expected teacher cost",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For an OEM to produce a vehicle that can accommodate a new technology like high-power charging, it relies on a supplier like TE to invent the component technology to do so. These innovations allow TE to occupy a larger portion of the overall bill of materials, through incorporating more SKUs and through selling higher-tech, higher-priced SKUs--$60 of content in an ICE vehicle doubles to $120 in an EV.",
    "output": "[Cause] For an OEM to produce a vehicle that can accommodate a new technology like high-power charging, it relies on a supplier like TE to invent the component technology to do so [Relation] enable [Effect] TE to occupy a larger portion of the overall bill of materials, through incorporating more SKUs and through selling higher-tech, higher-priced SKUs--$60 of content in an ICE vehicle doubles to $120 in an EV",
    "gold": "[Cause] For an OEM to produce a vehicle that can accommodate a new technology like high-power charging, it relies on a supplier like TE to invent the component technology to do so [Relation] enable [Effect] TE to occupy a larger portion of the overall bill of materials, through incorporating more SKUs and through selling higher-tech, higher-priced SKUs--$60 of content in an ICE vehicle doubles to $120 in an EV",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect operating margin of 20% in 2024, at the end of our five-year explicit forecast, and we think automation efforts and mix shift toward higher-value services will drive this margin expansion.",
    "output": "[Cause] automation efforts and mix shift toward higher-value services [Relation] enable [Effect] drive this margin expansion",
    "gold": "[Cause] we think automation efforts and mix shift toward higher-value services will drive this margin expansion [Relation] cause [Effect] operating margin of 20% in 2024, at the end of our five-year explicit forecast",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The geopolitical risk is broader than the pandemic, as any number of unpredictable events such as wars, international tension, and natural disasters affect travel.",
    "output": "[Cause] any number of unpredictable events such as wars, international tension, and natural disasters affect travel [Relation] cause [Effect] The geopolitical risk is broader than the pandemic",
    "gold": "[Cause] any number of unpredictable events such as wars, international tension, and natural disasters affect travel [Relation] enable [Effect] The geopolitical risk is broader than the pandemic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see material uncertainty from the ongoing COVID-19 pandemic, with most of the firm's revenue tied to capital spending cycles, which could be depressed in a recessionary environment.",
    "output": "[Cause] the ongoing COVID-19 pandemic [Relation] cause [Effect] material uncertainty",
    "gold": "[Cause] the ongoing COVID-19 pandemic [Relation] cause [Effect] material uncertainty",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see material uncertainty from the ongoing COVID-19 pandemic, with most of the firm's revenue tied to capital spending cycles, which could be depressed in a recessionary environment.",
    "output": "[Cause] a recessionary environment [Relation] cause [Effect] material uncertainty from the ongoing COVID-19 pandemic",
    "gold": "[Cause] a recessionary environment [Relation] enable [Effect]  capital spending cycles, which could be depressed",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "When fuel prices increase, fuel expenses and fuel surcharges increase, albeit with a delay between the rise in prices and surcharge implementation.",
    "output": "[Cause] fuel prices increase [Relation] cause [Effect] fuel expenses and fuel surcharges increase",
    "gold": "[Cause] fuel prices increase [Relation] cause [Effect] fuel expenses and fuel surcharges increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Capital One is more exposed to the credit cycle than most of its peers because of the large amount of subprime consumer lending it does.",
    "output": "[Cause] the large amount of subprime consumer lending it does [Relation] cause [Effect] Capital One is more exposed to the credit cycle than most of its peers",
    "gold": "[Cause] the large amount of subprime consumer lending it does [Relation] cause [Effect] Capital One is more exposed to the credit cycle than most of its peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The Charter acquisition added roughly $2 billion of goodwill to Colfax's balance sheet and diluted the firm's operating margins, which caused returns on invested capital including goodwill to decline.",
    "output": "[Cause] The Charter acquisition added roughly $2 billion of goodwill to Colfax's balance sheet and diluted the firm's operating margins [Relation] cause [Effect] returns on invested capital including goodwill to decline",
    "gold": "[Cause] The Charter acquisition added roughly $2 billion of goodwill to Colfax's balance sheet and diluted the firm's operating margins [Relation] cause [Effect] returns on invested capital including goodwill to decline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Aside from cyclical demand, overcapacity is on of the top problems manufacturers may have to face and the problem will only worsen, exacerbated by many manufacturers' new capacity plans to serve long-term growth potential in China.",
    "output": "[Cause] many manufacturers' new capacity plans to serve long-term growth potential in China [Relation] cause [Effect] the problem will only worsen",
    "gold": "[Cause] exacerbated by many manufacturers' new capacity plans to serve long-term growth potential in China [Relation] cause [Effect] overcapacity is on of the top problems manufacturers may have to face",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "U.S and emerging-market opportunities in newborn screening and reproductive health remain healthy, while continued growth from the Euroimmun acquisition should add incremental benefit to the company's diagnostic channels.",
    "output": "[Cause] continued growth from the Euroimmun acquisition [Relation] enable [Effect] incremental benefit to the company's diagnostic channels",
    "gold": "[Cause]  the Euroimmun acquisition [Relation] cause [Effect] U.S and emerging-market opportunities in newborn screening and reproductive health remain healthy",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, the substantial equipment spending in 3D NAND in recent years could result in excess capacity, leading to a slowdown in Lam's equipment sales to this end market.",
    "output": "[Cause] the substantial equipment spending in 3D NAND in recent years [Relation] cause [Effect] excess capacity",
    "gold": "[Cause] the substantial equipment spending in 3D NAND in recent years [Relation] cause [Effect] excess capacity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, the substantial equipment spending in 3D NAND in recent years could result in excess capacity, leading to a slowdown in Lam's equipment sales to this end market.",
    "output": "[Cause] excess capacity [Relation] cause [Effect] a slowdown in Lam's equipment sales to this end market",
    "gold": "[Cause] excess capacity [Relation] cause [Effect] a slowdown in Lam's equipment sales to this end market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also believe that military and defense sales will maintain high-single-digit growth with similarly strong performance from the IT and data communications market, due to increased 5G and broader connectivity demand growth.",
    "output": "[Cause] increased 5G and broader connectivity demand growth [Relation] cause [Effect] military and defense sales will maintain high-single-digit growth with similarly strong performance from the IT and data communications market",
    "gold": "[Cause] similarly strong performance from the IT and data communications market [Relation] enable [Effect] military and defense sales will maintain high-single-digit growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In fiscal 2021, we project adjusted EPS to slide by 9% to GBX 53, mostly on the GBP 400 million impact on the EBIT from the COVID-19 fallout.",
    "output": "[Cause] the GBP 400 million impact on the EBIT from the COVID-19 fallout [Relation] cause [Effect] adjusted EPS to slide by 9% to GBX 53",
    "gold": "[Cause] the GBP 400 million impact on the EBIT from the COVID-19 fallout [Relation] cause [Effect] adjusted EPS to slide by 9% to GBX 53",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, as share-based compensation represents a significant portion of operating costs, we don't expect GAAP operating income or net income to turn positive until the back half of the decade.",
    "output": "[Cause] share-based compensation represents a significant portion of operating costs [Relation] cause [Effect] we don't expect GAAP operating income or net income to turn positive until the back half of the decade",
    "gold": "[Cause] share-based compensation represents a significant portion of operating costs [Relation] cause [Effect] we don't expect GAAP operating income or net income to turn positive until the back half of the decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are also encouraged by its initial forays into checking accounts, as this should help Discover further narrow the cost of funding gap and allow it to benefit more from rising interest rates.",
    "output": "[Cause] its initial forays into checking accounts [Relation] enable [Effect] We are also encouraged",
    "gold": "[Cause] this should help Discover further narrow the cost of funding gap [Relation] enable [Effect] allow it to benefit more from rising interest rates",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We are also encouraged by its initial forays into checking accounts, as this should help Discover further narrow the cost of funding gap and allow it to benefit more from rising interest rates.",
    "output": "[Cause] Discover further narrow the cost of funding gap [Relation] enable [Effect] it to benefit more from rising interest rates",
    "gold": "[Cause] allow it to benefit more from rising interest rates [Relation] enable [Effect] We are also encouraged by its initial forays into checking accounts",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "And although Clorox has a successful history of acquisitions and imposes disciplined criteria to assess potential targets, any misstep in timing, execution, or valuation could constrain returns.",
    "output": "[Cause] any misstep in timing, execution, or valuation [Relation] prevent [Effect] returns",
    "gold": "[Cause] any misstep in timing, execution, or valuation [Relation] prevent [Effect] returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With close to three quarters of annual revenue coming from management and performance fees earned on its AUM, dramatic market movements or changes in fund flows can have a significant impact on AllianceBernstein's operating income and cash flows.",
    "output": "[Cause] close to three quarters of annual revenue coming from management and performance fees earned on its AUM [Relation] cause [Effect] dramatic market movements or changes in fund flows can have a significant impact on AllianceBernstein's operating income and cash flows",
    "gold": "[Cause] close to three quarters of annual revenue coming from management and performance fees earned on its AUM [Relation] cause [Effect] dramatic market movements or changes in fund flows can have a significant impact on AllianceBernstein's operating income and cash flows",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With close to three quarters of annual revenue coming from management and performance fees earned on its AUM, dramatic market movements or changes in fund flows can have a significant impact on AllianceBernstein's operating income and cash flows.",
    "output": "[Cause] dramatic market movements or changes in fund flows [Relation] cause [Effect] have a significant impact on AllianceBernstein's operating income and cash flows",
    "gold": "[Cause] dramatic market movements or changes in fund flows [Relation] enable [Effect] have a significant impact on AllianceBernstein's operating income and cash flows",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do not expect a return to these margins because Brazil has become more competitive, but we see plenty of room for upside from current levels.",
    "output": "[Cause] Brazil has become more competitive [Relation] cause [Effect] We do not expect a return to these margins",
    "gold": "[Cause] Brazil has become more competitive [Relation] cause [Effect] We do not expect a return to these margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the company has a long runway for growth within its existing roster of clients as it continues to improve the feature set and add new solutions to the portfolio.",
    "output": "[Cause] it continues to improve the feature set and add new solutions to the portfolio [Relation] cause [Effect] the company has a long runway for growth within its existing roster of clients",
    "gold": "[Cause] it continues to improve the feature set and add new solutions to the portfolio [Relation] enable [Effect] the company has a long runway for growth within its existing roster of clients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Several factors, including inadequate standards of handling and reporting animal models, were associated with the low rate of reproducibility. As a result, there became a greater focus on avoiding bacterial contamination, maintaining genetic integrity, and careful documentation of animal characteristics.",
    "output": "[Cause] Several factors, including inadequate standards of handling and reporting animal models, were associated with the low rate of reproducibility [Relation] cause [Effect] there became a greater focus on avoiding bacterial contamination, maintaining genetic integrity, and careful documentation of animal characteristics",
    "gold": "[Cause] Several factors, including inadequate standards of handling and reporting animal models, were associated with the low rate of reproducibility [Relation] cause [Effect] there became a greater focus on avoiding bacterial contamination, maintaining genetic integrity, and careful documentation of animal characteristics",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we don't think that investments to protect the brands will hurt cash flow potential, as cash flow rises from catalysts like strong film launches, new licences, and expense leverage.",
    "output": "[Cause] cash flow rises from catalysts like strong film launches, new licences, and expense leverage [Relation] cause [Effect] investments to protect the brands will hurt cash flow potential",
    "gold": "[Cause]  cash flow rises from catalysts like strong film launches, new licences, and expense leverage [Relation] prevent [Effect]  investments to protect the brands will hurt cash flow potential",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although switching costs could be established due to the high cost of network disruptions if Juniper's innovation leapfrogs its peers in software-defined networking for hybrid-cloud environments, we believe the company must make up lost ground before cementing tangible switching costs.",
    "output": "[Cause] the high cost of network disruptions if Juniper's innovation leapfrogs its peers in software-defined networking for hybrid-cloud environments [Relation] cause [Effect] switching costs could be established",
    "gold": "[Cause] the high cost of network disruptions if Juniper's innovation leapfrogs its peers in software-defined networking for hybrid-cloud environments [Relation] cause [Effect] switching costs could be established",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, overall we view Pfizer's uncertainty as low based on the low volatility of cash flows from a diverse product portfolio with inelastic demand.",
    "output": "[Cause] the low volatility of cash flows from a diverse product portfolio with inelastic demand [Relation] cause [Effect] we view Pfizer's uncertainty as low",
    "gold": "[Cause]  the low volatility of cash flows from a diverse product portfolio with inelastic demand [Relation] cause [Effect]  we view Pfizer's uncertainty as low",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, Class A malls are being redeveloped to provide more food and recreation options to present themselves as destinations for entertainment rather than simply places that consumers shop.",
    "output": "[Cause] Class A malls are being redeveloped [Relation] enable [Effect] provide more food and recreation options to present themselves as destinations for entertainment rather than simply places that consumers shop",
    "gold": "[Cause] Class A malls are being redeveloped [Relation] enable [Effect] provide more food and recreation options to present themselves as destinations for entertainment rather than simply places that consumers shop",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ultimately, this process identifies areas that need improvement, which eventually leads to innovation and shorter lead times as new processes are implemented.",
    "output": "[Cause] this process identifies areas that need improvement [Relation] cause [Effect] innovation and shorter lead times",
    "gold": "[Cause] this process identifies areas that need improvement [Relation] cause [Effect] innovation and shorter lead times",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ultimately, this process identifies areas that need improvement, which eventually leads to innovation and shorter lead times as new processes are implemented.",
    "output": "[Cause] new processes are implemented [Relation] cause [Effect] innovation and shorter lead times",
    "gold": "[Cause] new processes are implemented [Relation] cause [Effect] innovation and shorter lead times",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Roughly 80% of its Chinese seating volume comes from non-Chinese automakers, and we think there is potential to expand with Chinese automakers, as those firms will want to partner with the top seating company as they expand outside China.",
    "output": "[Cause] those firms will want to partner with the top seating company as they expand outside China [Relation] cause [Effect] there is potential to expand with Chinese automakers",
    "gold": "[Cause] those firms will want to partner with the top seating company as they expand outside China [Relation] cause [Effect] there is potential to expand with Chinese automakers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect incremental adjusted OR (net of fuel) improvement to around 85.3% in 2021, thanks in part to leverage from strong pricing.",
    "output": "[Cause] leverage from strong pricing [Relation] cause [Effect] incremental adjusted OR (net of fuel) improvement to around 85.3% in 2021",
    "gold": "[Cause] leverage from strong pricing [Relation] enable [Effect] incremental adjusted OR (net of fuel) improvement to around 85.3% in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect that Palo Alto will continue to outpace its security peers by focusing on providing solutions in areas like cloud security and automation.",
    "output": "[Cause] focusing on providing solutions in areas like cloud security and automation [Relation] enable [Effect] Palo Alto will continue to outpace its security peers",
    "gold": "[Cause]  focusing on providing solutions in areas like cloud security and automation [Relation] enable [Effect]  Palo Alto will continue to outpace its security peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project a 1% average annual decline for the Sky TV satellite business as the video side of business remains challenging, but the fixed wireless side of the business will offset some the losses.",
    "output": "[Cause] the video side of business remains challenging [Relation] cause [Effect] a 1% average annual decline for the Sky TV satellite business",
    "gold": "[Cause]  the video side of business remains challenging [Relation] cause [Effect]  the fixed wireless side of the business will offset some the losses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To support activity beyond the company's existing reserve potential, high levels of capital spending are required for potential discoveries and any subsequent development projects.",
    "output": "[Cause] high levels of capital spending are required for potential discoveries and any subsequent development projects [Relation] enable [Effect] support activity beyond the company's existing reserve potential",
    "gold": "[Cause] To support activity beyond the company's existing reserve potential [Relation] cause [Effect] high levels of capital spending are required for potential discoveries and any subsequent development projects",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While R&D costs are high, Daimler needs leading technologies--lithium-ion batteries for hybrid and electric cars--to preserve its reputation as an innovator.",
    "output": "[Cause] Daimler needs leading technologies [Relation] enable [Effect] preserve its reputation as an innovator",
    "gold": "[Cause] Daimler needs leading technologies [Relation] enable [Effect] preserve its reputation as an innovator",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, the increasingly viral nature of the media creates omnipresent ESG risk in the form of potential brand degradation, and this is quite acute for most corporations, in our view.",
    "output": "[Cause] the increasingly viral nature of the media creates omnipresent ESG risk in the form of potential brand degradation [Relation] cause [Effect] this is quite acute for most corporations",
    "gold": "[Cause] the increasingly viral nature of the media [Relation] cause [Effect] omnipresent ESG risk in the form of potential brand degradation",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Microchip's GAAP revenue in fiscal 2020 was $5.27 billion, down 1% year over year as the inorganic growth due to 12 months of contribution from Microsemi (versus only 10 months in fiscal 2019) was offset by U.S.-China trade tensions that weighed on chip demand during calendar 2019.",
    "output": "[Cause] the inorganic growth due to 12 months of contribution from Microsemi (versus only 10 months in fiscal 2019) was offset by U.S.-China trade tensions that weighed on chip demand during calendar 2019 [Relation] cause [Effect] Microchip's GAAP revenue in fiscal 2020 was $5.27 billion, down 1% year over year",
    "gold": "[Cause] the inorganic growth due to 12 months of contribution from Microsemi (versus only 10 months in fiscal 2019) was offset by U.S.-China trade tensions that weighed on chip demand during calendar 2019 [Relation] cause [Effect] Microchip's GAAP revenue in fiscal 2020 was $5.27 billion, down 1% year over year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With multiple offsets to its challenged food-service and commercial coffee businesses, the firm has been able to maintain its growth and margin profile throughout the pandemic, and we expect an even stronger 2021 as strategic investments continue to bear fruit.",
    "output": "[Cause] multiple offsets to its challenged food-service and commercial coffee businesses [Relation] enable [Effect] the firm has been able to maintain its growth and margin profile throughout the pandemic",
    "gold": "[Cause] the firm has been able to maintain its growth and margin profile throughout the pandemic [Relation] enable [Effect] an even stronger 2021 as strategic investments continue to bear fruit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Drilling technologies can always improve to allow for faster drilling, and completions technologies can always improve to deliver an incremental amount of oil for a given cost input.",
    "output": "[Cause] Drilling technologies can always improve [Relation] enable [Effect] faster drilling",
    "gold": "[Cause] Drilling technologies can always improve [Relation] enable [Effect] faster drilling",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, hydroxide cannot be made directly from brine, which requires the additional step of producing carbonate first. As a result, hydroxide production costs from some high-quality, fully integrated spodumene assets will be lower on the cost curve than Livent's cost position.",
    "output": "[Cause] hydroxide cannot be made directly from brine, which requires the additional step of producing carbonate first [Relation] cause [Effect] hydroxide production costs from some high-quality, fully integrated spodumene assets will be lower on the cost curve than Livent's cost position",
    "gold": "[Cause]  hydroxide cannot be made directly from brine, which requires the additional step of producing carbonate first [Relation] cause [Effect] hydroxide production costs from some high-quality, fully integrated spodumene assets will be lower on the cost curve than Livent's cost position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Kohl's sales will decline 20% after widespread store closures in the first half of the fiscal year, ongoing restrictions, and an uncertain economic recovery.",
    "output": "[Cause] widespread store closures in the first half of the fiscal year, ongoing restrictions, and an uncertain economic recovery [Relation] cause [Effect] Kohl's sales will decline 20%",
    "gold": "[Cause] widespread store closures in the first half of the fiscal year, ongoing restrictions, and an uncertain economic recovery [Relation] cause [Effect]  Kohl's sales will decline 20%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result of Snap-on's premium pricing and franchise model that offloads risks and costs to third parties, the company has been consistently profitable.",
    "output": "[Cause] Snap-on's premium pricing and franchise model that offloads risks and costs to third parties [Relation] cause [Effect] the company has been consistently profitable",
    "gold": "[Cause] Snap-on's premium pricing and franchise model that offloads risks and costs to third parties [Relation] cause [Effect] the company has been consistently profitable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the Suddenlink portion of Altice's business, AT&amp;T is the most significant competitor, as Verizon did not build FiOS in any of these markets.",
    "output": "[Cause] Verizon did not build FiOS in any of these markets [Relation] cause [Effect] In the Suddenlink portion of Altice's business, AT&amp;T is the most significant competitor",
    "gold": "[Cause] Verizon did not build FiOS in any of these markets [Relation] cause [Effect] In the Suddenlink portion of Altice's business, AT&amp;T is the most significant competitor",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, implementing the technology is still a few years out, and the company will not benefit from these cost reductions today.",
    "output": "[Cause] implementing the technology is still a few years out [Relation] cause [Effect] the company will not benefit from these cost reductions today",
    "gold": "[Cause] implementing the technology is still a few years out [Relation] cause [Effect]  the company will not benefit from these cost reductions today",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But we think growth will then moderate to the mid-single-digits category pace, due to numerous new market entrants looking to tap into trends toward clean labels and plant-based proteins.",
    "output": "[Cause] numerous new market entrants looking to tap into trends toward clean labels and plant-based proteins [Relation] cause [Effect] growth will then moderate to the mid-single-digits category pace",
    "gold": "[Cause] numerous new market entrants looking to tap into trends toward clean labels and plant-based proteins [Relation] cause [Effect] growth will then moderate to the mid-single-digits category pace",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We don't think cloud providers want to compete with Equinix's colocation business, considering the difficulty we believe they'd have in mimicking a similar network of their customers, but we think their leverage could result in less favorable terms for Equinix.",
    "output": "[Cause] the difficulty we believe they'd have in mimicking a similar network of their customers [Relation] cause [Effect] We don't think cloud providers want to compete with Equinix's colocation business",
    "gold": "[Cause] the difficulty we believe they'd have in mimicking a similar network of their customers [Relation] cause [Effect] We don't think cloud providers want to compete with Equinix's colocation business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We don't think cloud providers want to compete with Equinix's colocation business, considering the difficulty we believe they'd have in mimicking a similar network of their customers, but we think their leverage could result in less favorable terms for Equinix.",
    "output": "[Cause] their leverage [Relation] cause [Effect] less favorable terms for Equinix",
    "gold": "[Cause] their leverage [Relation] cause [Effect] less favorable terms for Equinix",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Governments may enact policies that place restrictions on Diageo's business activities or increase liquor taxes, resulting in a demand headwind.",
    "output": "[Cause] Governments may enact policies that place restrictions on Diageo's business activities or increase liquor taxes [Relation] cause [Effect] a demand headwind",
    "gold": "[Cause] Governments may enact policies that place restrictions on Diageo's business activities or increase liquor taxes [Relation] cause [Effect] a demand headwind",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The key risks could emanate from the proposed government rulings seeking increased transparency of drug pricing and elimination of rebates to PBMs. These proposed regulatory changes would reduce the cost of drugs, which is currently a pass-through to revenue and a basis of how pharmacy wholesalers are compensated.",
    "output": "[Cause] The key risks could emanate from the proposed government rulings seeking increased transparency of drug pricing and elimination of rebates to PBMs [Relation] cause [Effect] reduce the cost of drugs, which is currently a pass-through to revenue and a basis of how pharmacy wholesalers are compensated",
    "gold": "[Cause] The key risks could emanate from the proposed government rulings seeking increased transparency of drug pricing and elimination of rebates to PBMs [Relation] enable [Effect] reduce the cost of drugs, which is currently a pass-through to revenue and a basis of how pharmacy wholesalers are compensated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the past decade, firms have increased the amount of data they can move through a connection per second from 1 GB to 10 GB to 100 GB, and as the capacity rises, companies can do more with fewer cross-connects.",
    "output": "[Cause] the capacity rises [Relation] enable [Effect] companies can do more with fewer cross-connects",
    "gold": "[Cause] the capacity rises, companies can do more with fewer cross-connects [Relation] cause [Effect] firms have increased the amount of data they can move through a connection per second from 1 GB to 10 GB to 100 GB",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We are modestly increasing our long-term consolidated organic sales forecast to 1.8% from 1.5% to account for better performance of the BLUE brand and a surge in pet adoptions during the pandemic.",
    "output": "[Cause] better performance of the BLUE brand and a surge in pet adoptions during the pandemic [Relation] cause [Effect] We are modestly increasing our long-term consolidated organic sales forecast to 1.8% from 1.5%",
    "gold": "[Cause] better performance of the BLUE brand and a surge in pet adoptions during the pandemic [Relation] cause [Effect] We are modestly increasing our long-term consolidated organic sales forecast to 1.8% from 1.5%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The need for rarer and a broader array of ingredients for differentiation results in less streamlined procurement and inventory management at the facilities.",
    "output": "[Cause] The need for rarer and a broader array of ingredients for differentiation [Relation] cause [Effect] less streamlined procurement and inventory management at the facilities",
    "gold": "[Cause] The need for rarer and a broader array of ingredients for differentiation [Relation] cause [Effect] less streamlined procurement and inventory management at the facilities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Demand for industrial gases has a strong correlation to global industrial production so core volume growth will depend on the future growth of the world economy.",
    "output": "[Cause] Demand for industrial gases has a strong correlation to global industrial production [Relation] cause [Effect] core volume growth will depend on the future growth of the world economy",
    "gold": "[Cause] Demand for industrial gases has a strong correlation to global industrial production [Relation] cause [Effect]  core volume growth will depend on the future growth of the world economy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, we believe Nice has had success in cross-selling products, which would further increase switching costs, as evidenced by 60% of new business in 2017 coming from analytics.",
    "output": "[Cause] Nice has had success in cross-selling products [Relation] enable [Effect] increase switching costs",
    "gold": "[Cause] evidenced by 60% of new business in 2017 coming from analytics [Relation] cause [Effect]  Nice has had success in cross-selling products, which would further increase switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our valuation for Berkshire's insurance operations is $104 per Class B share (up from $98 previously) mostly due to improved performance of the equity portfolio since our last update.",
    "output": "[Cause] improved performance of the equity portfolio since our last update [Relation] cause [Effect] Our valuation for Berkshire's insurance operations is $104 per Class B share (up from $98 previously) mostly",
    "gold": "[Cause] improved performance of the equity portfolio since our last update [Relation] cause [Effect] Our valuation for Berkshire's insurance operations is $104 per Class B share (up from $98 previously) mostly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since its inception in 2005, Echo Global Logistics has expanded at a healthy clip, supported by salesforce growth and acquisitions, along with market share gains from asset-based carriers and less sophisticated truck brokers. As a result, the firm has worked its way into the ranks of the top players in asset-light truck brokerage.",
    "output": "[Cause] Echo Global Logistics has expanded at a healthy clip, supported by salesforce growth and acquisitions, along with market share gains from asset-based carriers and less sophisticated truck brokers [Relation] cause [Effect] the firm has worked its way into the ranks of the top players in asset-light truck brokerage",
    "gold": "[Cause] Echo Global Logistics has expanded at a healthy clip, supported by salesforce growth and acquisitions, along with market share gains from asset-based carriers and less sophisticated truck brokers [Relation] cause [Effect] the firm has worked its way into the ranks of the top players in asset-light truck brokerage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the firm's medical membership rolls are smaller than some of its more integrated peers, the development of a core competency in Medicare-related products, particularly Medicare Advantage, combined with its geographic concentration has been difficult to replicate.",
    "output": "[Cause] the development of a core competency in Medicare-related products, particularly Medicare Advantage, combined with its geographic concentration [Relation] cause [Effect] difficult to replicate",
    "gold": "[Cause] the development of a core competency in Medicare-related products, particularly Medicare Advantage, combined with its geographic concentration [Relation] cause [Effect] difficult to replicate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For Ahold, we see lower risks ahead in case online grocery does not live up to expectations as the fulfilment model it has chosen to follow is less capital-intensive than some of its large competitors (Kroger).",
    "output": "[Cause] the fulfilment model it has chosen to follow is less capital-intensive than some of its large competitors (Kroger) [Relation] cause [Effect] lower risks ahead in case online grocery does not live up to expectations",
    "gold": "[Cause] online grocery does not live up to expectations [Relation] prevent [Effect] lower risks ahead",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For Ahold, we see lower risks ahead in case online grocery does not live up to expectations as the fulfilment model it has chosen to follow is less capital-intensive than some of its large competitors (Kroger).",
    "output": "[Cause] the fulfilment model it has chosen to follow is less capital-intensive than some of its large competitors (Kroger) [Relation] cause [Effect] lower risks ahead",
    "gold": "[Cause] the fulfilment model it has chosen to follow is less capital-intensive than some of its large competitors (Kroger) [Relation] enable [Effect] lower risks ahead",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we anticipate the increasing demand for data and more dispersed corporate footprints, including usage of cloud providers and more spread out employee bases, can largely offset pricing pressures for several enterprise services.",
    "output": "[Cause] the increasing demand for data and more dispersed corporate footprints, including usage of cloud providers and more spread out employee bases [Relation] enable [Effect] can largely offset pricing pressures for several enterprise services",
    "gold": "[Cause]  the increasing demand for data and more dispersed corporate footprints, including usage of cloud providers and more spread out employee bases [Relation] enable [Effect] can largely offset pricing pressures for several enterprise services",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We view AstraZeneca's uncertainty as medium as the company faces the typical risks inherent in the pharmaceutical industry, including patent expirations, regulatory delays, and nonapprovals, as well as increasingly aggressive generic and managed-care industries.",
    "output": "[Cause] the company faces the typical risks inherent in the pharmaceutical industry, including patent expirations, regulatory delays, and nonapprovals, as well as increasingly aggressive generic and managed-care industries [Relation] cause [Effect] AstraZeneca's uncertainty as medium",
    "gold": "[Cause] the company faces the typical risks inherent in the pharmaceutical industry, including patent expirations, regulatory delays, and nonapprovals, as well as increasingly aggressive generic and managed-care industries [Relation] cause [Effect] AstraZeneca's uncertainty as medium",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We view AstraZeneca's uncertainty as medium as the company faces the typical risks inherent in the pharmaceutical industry, including patent expirations, regulatory delays, and nonapprovals, as well as increasingly aggressive generic and managed-care industries.",
    "output": "[Cause] increasingly aggressive generic and managed-care industries [Relation] cause [Effect] the company faces the typical risks",
    "gold": "[Cause] patent expirations [Relation] cause [Effect] the company faces the typical risks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We view AstraZeneca's uncertainty as medium as the company faces the typical risks inherent in the pharmaceutical industry, including patent expirations, regulatory delays, and nonapprovals, as well as increasingly aggressive generic and managed-care industries.",
    "output": "[Cause] increasingly aggressive generic and managed-care industries [Relation] cause [Effect] the company faces the typical risks",
    "gold": "[Cause] regulatory delays [Relation] cause [Effect] the company faces the typical risks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We view AstraZeneca's uncertainty as medium as the company faces the typical risks inherent in the pharmaceutical industry, including patent expirations, regulatory delays, and nonapprovals, as well as increasingly aggressive generic and managed-care industries.",
    "output": "[Cause] increasingly aggressive generic and managed-care industries [Relation] cause [Effect] the company faces the typical risks",
    "gold": "[Cause] nonapprovals [Relation] cause [Effect] the company faces the typical risks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We view AstraZeneca's uncertainty as medium as the company faces the typical risks inherent in the pharmaceutical industry, including patent expirations, regulatory delays, and nonapprovals, as well as increasingly aggressive generic and managed-care industries.",
    "output": "[Cause] increasingly aggressive generic and managed-care industries [Relation] cause [Effect] the company faces the typical risks",
    "gold": "[Cause] increasingly aggressive generic and managed-care industries [Relation] cause [Effect] the company faces the typical risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the significant challenges that the coronavirus presents to the senior housing industry over the next several quarters, Healthpeak made the strategic decision in the third quarter of 2019 to dispose of most of the company's senior housing assets in multiple transactions for around $4 billion in total proceeds.",
    "output": "[Cause] the significant challenges that the coronavirus presents to the senior housing industry over the next several quarters [Relation] cause [Effect] Healthpeak made the strategic decision in the third quarter of 2019 to dispose of most of the company's senior housing assets in multiple transactions for around $4 billion in total proceeds",
    "gold": "[Cause] the significant challenges that the coronavirus presents to the senior housing industry over the next several quarters [Relation] cause [Effect] Healthpeak made the strategic decision in the third quarter of 2019 to dispose of most of the company's senior housing assets in multiple transactions for around $4 billion in total proceeds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This is backed by growth in average revenue per user (ARPU) of 9% over the last four fiscal years as average contract value grows and businesses incorporate more Coupa modules to drive spend management and efficiency.",
    "output": "[Cause] average contract value grows and businesses incorporate more Coupa modules [Relation] enable [Effect] drive spend management and efficiency",
    "gold": "[Cause]  average contract value grows and businesses incorporate more Coupa modules [Relation] cause [Effect] drive spend management and efficiency",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This is backed by growth in average revenue per user (ARPU) of 9% over the last four fiscal years as average contract value grows and businesses incorporate more Coupa modules to drive spend management and efficiency.",
    "output": "[Cause] businesses incorporate more Coupa modules [Relation] enable [Effect] drive spend management and efficiency",
    "gold": "[Cause] growth in average revenue per user (ARPU) of 9% over the last four fiscal years [Relation] enable [Effect] This",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, with an abundance of fiber across the globe, there's little holding any other firm back from replicating a similar network with a leasing strategy like GTT's.",
    "output": "[Cause] an abundance of fiber across the globe [Relation] cause [Effect] there's little holding any other firm back from replicating a similar network with a leasing strategy like GTT's",
    "gold": "[Cause] an abundance of fiber across the globe [Relation] cause [Effect] there's little holding any other firm back from replicating a similar network with a leasing strategy like GTT's",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Patterson is also subject to environmental, social, and governance issues with potentially detrimental impacts that create risk for oilfield-services investors.",
    "output": "[Cause] potentially detrimental impacts [Relation] cause [Effect] create risk for oilfield-services investors",
    "gold": "[Cause] environmental, social, and governance issues [Relation] cause [Effect] potentially detrimental impacts",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we expect long-term demand to eventually absorb this incremental supply, persistent new supply will continue to pressure performance and asset values.",
    "output": "[Cause] persistent new supply [Relation] cause [Effect] continue to pressure performance and asset values",
    "gold": "[Cause] persistent new supply [Relation] cause [Effect] continue to pressure performance and asset values",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project out-year operating margins lifting to the high 40s in 2030 versus the low 40s prior, as we expect recent cost initiatives to prove more sustainable.",
    "output": "[Cause] recent cost initiatives to prove more sustainable [Relation] cause [Effect] out-year operating margins lifting to the high 40s in 2030 versus the low 40s prior",
    "gold": "[Cause] recent cost initiatives to prove more sustainable [Relation] cause [Effect] out-year operating margins lifting to the high 40s in 2030 versus the low 40s prior",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A constantly evolving digital commerce landscape--including Amazon's expanding third-party seller offerings and enhanced Fulfillment by Amazon capabilities--and the threat of data breaches or disruptions to search algorithms that drive traffic to its various websites present potential disruptions to eBay's network effect.",
    "output": "[Cause] A constantly evolving digital commerce landscape--including Amazon's expanding third-party seller offerings and enhanced Fulfillment by Amazon capabilities--and the threat of data breaches or disruptions to search algorithms that drive traffic to its various websites [Relation] cause [Effect] potential disruptions to eBay's network effect",
    "gold": "[Cause] A constantly evolving digital commerce landscape--including Amazon's expanding third-party seller offerings and enhanced Fulfillment by Amazon capabilities--and the threat of data breaches or disruptions to search algorithms that drive traffic to its various websites [Relation] cause [Effect] potential disruptions to eBay's network effect",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Motorola Solutions is primarily focused on the public market, contracting with city, state, and federal agencies, recent acquisitions have enabled the firm to push further into commercial contracts.",
    "output": "[Cause] recent acquisitions [Relation] enable [Effect] the firm to push further into commercial contracts",
    "gold": "[Cause] recent acquisitions [Relation] enable [Effect] the firm to push further into commercial contracts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Composites as a percentage of aircraft weight have increased with each generation of aircraft development as composites are frequently lighter than traditional metals, which allows airlines to save on fuel expense, and are as strong as needed for aerospace purposes.",
    "output": "[Cause] composites are frequently lighter than traditional metals [Relation] cause [Effect] Composites as a percentage of aircraft weight have increased with each generation of aircraft development",
    "gold": "[Cause] composites are frequently lighter than traditional metals [Relation] cause [Effect] Composites as a percentage of aircraft weight have increased with each generation of aircraft development",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Composites as a percentage of aircraft weight have increased with each generation of aircraft development as composites are frequently lighter than traditional metals, which allows airlines to save on fuel expense, and are as strong as needed for aerospace purposes.",
    "output": "[Cause] composites are frequently lighter than traditional metals [Relation] enable [Effect] Composites as a percentage of aircraft weight have increased with each generation of aircraft development",
    "gold": "[Cause] composites are frequently lighter than traditional metals [Relation] cause [Effect] allows airlines to save on fuel expense, and are as strong as needed for aerospace purposes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Automakers plan to electrify their fleets through the addition of an EV version of existing vehicles and the creation of new platforms.",
    "output": "[Cause] the addition of an EV version of existing vehicles and the creation of new platforms [Relation] enable [Effect] Automakers plan to electrify their fleets",
    "gold": "[Cause] the addition of an EV version of existing vehicles and the creation of new platforms [Relation] cause [Effect] Automakers plan to electrify their fleets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, partially offsetting the poor Missouri regulatory framework is FERC-regulated interstate transmission, about 12% of rate base and growing faster than Evergy's state-regulated jurisdictions.",
    "output": "[Cause] FERC-regulated interstate transmission [Relation] enable [Effect] partially offsetting the poor Missouri regulatory framework",
    "gold": "[Cause] offsetting the poor Missouri regulatory framework [Relation] cause [Effect]  growing faster than Evergy's state-regulated jurisdictions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A strong reputation makes an investment bank more likely to be selected as a bookrunner, capturing more of the profits from an underwriting deal, and gives the firm an early opportunity to hire top revenue-generating talent.",
    "output": "[Cause] A strong reputation [Relation] enable [Effect] the firm an early opportunity to hire top revenue-generating talent",
    "gold": "[Cause] capturing more of the profits [Relation] enable [Effect]  the firm an early opportunity to hire top revenue-generating talent",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The merger of Gardner Denver with Ingersoll-Rand's industrial segment has diversified new Ingersoll-Rand's portfolio, and upstream energy now accounts for only about 10% of total revenue but the business could still be a contributor to top-line volatility.",
    "output": "[Cause] The merger of Gardner Denver with Ingersoll-Rand's industrial segment [Relation] enable [Effect] diversified new Ingersoll-Rand's portfolio",
    "gold": "[Cause] The merger of Gardner Denver with Ingersoll-Rand's industrial segment [Relation] enable [Effect]  diversified new Ingersoll-Rand's portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Then when those consumers have children, additional marketing through the PBkids and PBteen (along with rising offerings in baby) brands could ensue.",
    "output": "[Cause] those consumers have children [Relation] cause [Effect] additional marketing through the PBkids and PBteen (along with rising offerings in baby) brands could ensue",
    "gold": "[Cause] those consumers have children [Relation] enable [Effect] additional marketing through the PBkids and PBteen (along with rising offerings in baby) brands could ensue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It has strategically acquired and developed assets in submarkets with strong demand drivers, creating a portfolio with average location population density and median household income higher than any other retail REIT. As a result, Federal Realty has been able to drive solid same-store net operating income growth and average double-digit re-leasing spreads over the past two decades.",
    "output": "[Cause] It has strategically acquired and developed assets in submarkets with strong demand drivers, creating a portfolio with average location population density and median household income higher than any other retail REIT [Relation] cause [Effect] Federal Realty has been able to drive solid same-store net operating income growth and average double-digit re-leasing spreads over the past two decades",
    "gold": "[Cause] It has strategically acquired and developed assets in submarkets with strong demand drivers, creating a portfolio with average location population density and median household income higher than any other retail REIT [Relation] cause [Effect] Federal Realty has been able to drive solid same-store net operating income growth and average double-digit re-leasing spreads over the past two decades",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thus, we see a slight risk that future regulatory changes force truckload carriers to adopt electric Class 8 truck technology before it has proved economically beneficial.",
    "output": "[Cause] future regulatory changes [Relation] cause [Effect] truckload carriers to adopt electric Class 8 truck technology before it has proved economically beneficial",
    "gold": "[Cause] future regulatory changes [Relation] cause [Effect] truckload carriers to adopt electric Class 8 truck technology before it has proved economically beneficial",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, with the joint acquisition of Osisko Mining, we anticipate Agnico's exposure to Canada to only increase, further cementing its lower level of geopolitical risk.",
    "output": "[Cause] the joint acquisition of Osisko Mining [Relation] cause [Effect] Agnico's exposure to Canada to only increase",
    "gold": "[Cause] the joint acquisition of Osisko Mining [Relation] cause [Effect] Agnico's exposure to Canada to only increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, with the joint acquisition of Osisko Mining, we anticipate Agnico's exposure to Canada to only increase, further cementing its lower level of geopolitical risk.",
    "output": "[Cause] Agnico's exposure to Canada to only increase [Relation] cause [Effect] further cementing its lower level of geopolitical risk",
    "gold": "[Cause] Agnico's exposure to Canada to only increase [Relation] cause [Effect] further cementing its lower level of geopolitical risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Similar to the dynamics in its glass businesses, Corning can divide hefty fixed costs across a greater volume than its competition, resulting in materially lower average costs and industry-leading margins.",
    "output": "[Cause] Corning can divide hefty fixed costs across a greater volume than its competition [Relation] cause [Effect] materially lower average costs and industry-leading margins",
    "gold": "[Cause] Corning can divide hefty fixed costs across a greater volume than its competition [Relation] cause [Effect] materially lower average costs and industry-leading margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Many of Kimco's shopping centers feature a grocery store as an anchor, so an anchor losing traffic will hurt the business of all stores in the center.",
    "output": "[Cause] Many of Kimco's shopping centers feature a grocery store as an anchor [Relation] cause [Effect] an anchor losing traffic will hurt the business of all stores in the center",
    "gold": "[Cause] Many of Kimco's shopping centers feature a grocery store as an anchor [Relation] cause [Effect] an anchor losing traffic will hurt the business of all stores in the center",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Mosaic's cost position is set to improve, however, as the company ramps up production at its new K3 mine at Esterhazy, which will eliminate the brine inflow expenses by the middle of the next decade.",
    "output": "[Cause] Mosaic's cost position is set to improve, however, as the company ramps up production at its new K3 mine at Esterhazy [Relation] cause [Effect] eliminate the brine inflow expenses by the middle of the next decade",
    "gold": "[Cause] Mosaic's cost position is set to improve, however, as the company ramps up production at its new K3 mine at Esterhazy [Relation] enable [Effect] eliminate the brine inflow expenses by the middle of the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These large deal sizes, higher reliance of partners on RingCentral to sell cloud-based solutions to their users, and increasing entrenchment within the firm's partners' installed bases all support healthy switching costs for the firm.",
    "output": "[Cause] These large deal sizes, higher reliance of partners on RingCentral to sell cloud-based solutions to their users, and increasing entrenchment within the firm's partners' installed bases [Relation] enable [Effect] healthy switching costs for the firm",
    "gold": "[Cause] These large deal sizes, higher reliance of partners on RingCentral to sell cloud-based solutions to their users, and increasing entrenchment within the firm's partners' installed bases [Relation] enable [Effect] healthy switching costs for the firm",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm remains uniquely positioned as the COVID-19 pandemic continues to linger, with multiple offsets to its challenged food-service and commercial coffee businesses that should allow it to maintain its growth and margin profile.",
    "output": "[Cause] the COVID-19 pandemic continues to linger [Relation] cause [Effect] The firm remains uniquely positioned",
    "gold": "[Cause] the COVID-19 pandemic continues to linger [Relation] cause [Effect] The firm remains uniquely positioned",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm remains uniquely positioned as the COVID-19 pandemic continues to linger, with multiple offsets to its challenged food-service and commercial coffee businesses that should allow it to maintain its growth and margin profile.",
    "output": "[Cause] multiple offsets to its challenged food-service and commercial coffee businesses [Relation] enable [Effect] maintain its growth and margin profile",
    "gold": "[Cause] multiple offsets to its challenged food-service and commercial coffee businesses [Relation] enable [Effect] maintain its growth and margin profile",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we are not concerned about its ability to endure the crisis, the pandemic has upended the retail landscape, with high unemployment pressuring discretionary income and customers' comfort with in-store shopping likely to take time to build.",
    "output": "[Cause] high unemployment pressuring discretionary income and customers' comfort with in-store shopping likely to take time to build [Relation] cause [Effect] the pandemic has upended the retail landscape",
    "gold": "[Cause] high unemployment pressuring discretionary income and customers' comfort with in-store shopping likely to take time to build [Relation] cause [Effect] the pandemic has upended the retail landscape",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And our 2021-30 IT solutions (IT for airlines) sales forecast is derived from increasing airline revenue per passenger boarded (to $1.28 in 2030 from $1.34 in 2019) as customers adopt new and existing products and by passenger boarding growth over the IT platform.",
    "output": "[Cause] increasing airline revenue per passenger boarded (to $1.28 in 2030 from $1.34 in 2019) [Relation] cause [Effect] increasing airline revenue per passenger boarded",
    "gold": "[Cause] customers adopt new and existing products and by passenger boarding growth over the IT platform [Relation] cause [Effect] increasing airline revenue per passenger boarded (to $1.28 in 2030 from $1.34 in 2019)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Management expects Intel to outsource some portion of its chips to TSMC beginning in 2023 to retain product leadership, which we view as prudent course of action.",
    "output": "[Cause] Intel to outsource some portion of its chips to TSMC beginning in 2023 [Relation] enable [Effect] retain product leadership",
    "gold": "[Cause] Intel to outsource some portion of its chips to TSMC beginning in 2023 [Relation] cause [Effect] retain product leadership",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With strong patent protection throughout our explicit forecast, first-mover status in the rare indication, and significant patient share, we believe it is more likely than not that Vertex will be able to earn excess returns over the next 10 years.",
    "output": "[Cause] strong patent protection throughout our explicit forecast, first-mover status in the rare indication, and significant patient share [Relation] enable [Effect] Vertex will be able to earn excess returns over the next 10 years",
    "gold": "[Cause]  strong patent protection throughout our explicit forecast, first-mover status in the rare indication, and significant patient share [Relation] enable [Effect]  Vertex will be able to earn excess returns over the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Core pricing and margin resilience in past freight recessions and in the face of substantial coal volume losses over the past decade-plus are a testament to the rails' robust competitive positioning.",
    "output": "[Cause] Core pricing and margin resilience in past freight recessions and in the face of substantial coal volume losses over the past decade-plus [Relation] enable [Effect] a testament to the rails' robust competitive positioning",
    "gold": "[Cause] Core pricing and margin resilience in past freight recessions and in the face of substantial coal volume losses over the past decade-plus [Relation] cause [Effect] a testament to the rails' robust competitive positioning",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Active safety is a very fast-growing field, so more camera products are likely to show up on other vehicle programs and Gentex develops its own cameras.",
    "output": "[Cause] Active safety is a very fast-growing field [Relation] cause [Effect] more camera products are likely to show up on other vehicle programs and Gentex develops its own cameras",
    "gold": "[Cause] Active safety is a very fast-growing field [Relation] cause [Effect]  more camera products are likely to show up on other vehicle programs and Gentex develops its own cameras",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From a competitive standpoint, at the enterprise end of the spectrum, our analysis suggests Shopify carries a less robust feature set, and therefore is less expensive, simpler to use, and enjoys faster implementation.",
    "output": "[Cause] Shopify carries a less robust feature set [Relation] cause [Effect] less expensive, simpler to use, and enjoys faster implementation",
    "gold": "[Cause]  Shopify carries a less robust feature set [Relation] cause [Effect] less expensive, simpler to use, and enjoys faster implementation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Shop closures can create opportunities for Advance to grow with survivors as they take share or cost it long-standing clients.",
    "output": "[Cause] they take share or cost it long-standing clients [Relation] cause [Effect] Shop closures can create opportunities for Advance to grow with survivors",
    "gold": "[Cause] they take share or cost it long-standing clients [Relation] cause [Effect] Shop closures can create opportunities for Advance to grow with survivors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe margin expansion from 2019 levels is reasonable because we expect high-margin loyalty marketing income will continue to grow, as loyalty revenue continues to grow from increased spending on Delta cobranded cards, and due to voluntary retirement packages during the pandemic sustainably improving the company's cost structure.",
    "output": "[Cause] high-margin loyalty marketing income will continue to grow [Relation] cause [Effect] margin expansion from 2019 levels is reasonable",
    "gold": "[Cause]  high-margin loyalty marketing income will continue to grow [Relation] cause [Effect] margin expansion from 2019 levels is reasonable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe margin expansion from 2019 levels is reasonable because we expect high-margin loyalty marketing income will continue to grow, as loyalty revenue continues to grow from increased spending on Delta cobranded cards, and due to voluntary retirement packages during the pandemic sustainably improving the company's cost structure.",
    "output": "[Cause] voluntary retirement packages during the pandemic sustainably improving the company's cost structure [Relation] cause [Effect] high-margin loyalty marketing income will continue to grow",
    "gold": "[Cause] voluntary retirement packages [Relation] cause [Effect] improving the company's cost structure",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With JPMorgan's tech budget of over $10 billion per year, the bank may not drop to the lowest overall efficiency ratio 7 Jul 2021 05:00, UTCamong peers, but it will be able to maintain higher levels of investment at similar efficiency levels.",
    "output": "[Cause] JPMorgan's tech budget of over $10 billion per year [Relation] cause [Effect] the bank may not drop to the lowest overall efficiency ratio",
    "gold": "[Cause] JPMorgan's tech budget of over $10 billion per year [Relation] cause [Effect] the bank may not drop to the lowest overall efficiency ratio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With JPMorgan's tech budget of over $10 billion per year, the bank may not drop to the lowest overall efficiency ratio 7 Jul 2021 05:00, UTCamong peers, but it will be able to maintain higher levels of investment at similar efficiency levels.",
    "output": "[Cause] maintain higher levels of investment at similar efficiency levels [Relation] enable [Effect] the bank may not drop to the lowest overall efficiency ratio 7 Jul 2021 05:00",
    "gold": "[Cause] the bank may not drop to the lowest overall efficiency ratio [Relation] enable [Effect] maintain higher levels of investment at similar efficiency levels",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In looking at the entire company, Novartis gained margin improvement following the corporate reshuffling with Glaxo and Eli Lilly, and we expect further margin improvement following the spin-off of Alcon.",
    "output": "[Cause] the corporate reshuffling with Glaxo and Eli Lilly [Relation] cause [Effect] Novartis gained margin improvement",
    "gold": "[Cause] Novartis gained margin improvement following the corporate reshuffling with Glaxo and Eli Lilly [Relation] cause [Effect] further margin improvement following the spin-off of Alcon",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, we think acquisition opportunities (not explicitly forecast) remain across the global adjacent and aftermarket parts segments, which can build incremental demand.",
    "output": "[Cause] acquisition opportunities (not explicitly forecast) remain across the global adjacent and aftermarket parts segments [Relation] enable [Effect] build incremental demand",
    "gold": "[Cause] acquisition opportunities (not explicitly forecast) remain across the global adjacent and aftermarket parts segments [Relation] enable [Effect] build incremental demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Specifically, we raised our Stage 2 RONIC assumption to 18% from 15% previously as we've become more confident in Ferguson's ability to maintain strong profit margins and generate good returns on acquired businesses.",
    "output": "[Cause] we've become more confident in Ferguson's ability to maintain strong profit margins and generate good returns on acquired businesses [Relation] cause [Effect] we raised our Stage 2 RONIC assumption to 18% from 15% previously",
    "gold": "[Cause] we've become more confident in Ferguson's ability to maintain strong profit margins and generate good returns on acquired businesses [Relation] cause [Effect] we raised our Stage 2 RONIC assumption to 18% from 15% previously",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Still, we forecast sharp downturns in sales, margins, and earnings in 2020 due to COVID-19, including sales drops for all three of its segments.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] sharp downturns in sales, margins, and earnings in 2020",
    "gold": "[Cause]  COVID-19 [Relation] cause [Effect]  sharp downturns in sales, margins, and earnings in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also base our midcycle OR estimate on continued core-price increases as the firm boosts volume in cross-border intermodal and cross-border automotive shipments.",
    "output": "[Cause] the firm boosts volume in cross-border intermodal and cross-border automotive shipments [Relation] cause [Effect] We also base our midcycle OR estimate on continued core-price increases",
    "gold": "[Cause] the firm boosts volume in cross-border intermodal and cross-border automotive shipments [Relation] cause [Effect] We also base our midcycle OR estimate on continued core-price increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management also entered Spain with the acquisition of Seguros y Reaseguros de Danos, providing a nice segue for the 2011 purchase of a controlling stake in Santander Latin America that made Santander exclusive provider of Zurich insurance in the region.",
    "output": "[Cause] Management also entered Spain with the acquisition of Seguros y Reaseguros de Danos, providing a nice segue for the 2011 purchase of a controlling stake in Santander Latin America [Relation] enable [Effect] Santander exclusive provider of Zurich insurance in the region",
    "gold": "[Cause] Management also entered Spain with the acquisition of Seguros y Reaseguros de Danos, providing a nice segue for the 2011 purchase of a controlling stake in Santander Latin America [Relation] enable [Effect] Santander exclusive provider of Zurich insurance in the region",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Kellogg also maintains a cost edge resulting from the economies of scale in production and distribution across its global network, which has afforded it the ability to invest significant resources behind R&amp;D and advertising.",
    "output": "[Cause] the economies of scale in production and distribution across its global network [Relation] cause [Effect] Kellogg also maintains a cost edge",
    "gold": "[Cause]  the economies of scale in production and distribution across its global network [Relation] enable [Effect]  Kellogg also maintains a cost edge",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Kellogg also maintains a cost edge resulting from the economies of scale in production and distribution across its global network, which has afforded it the ability to invest significant resources behind R&amp;D and advertising.",
    "output": "[Cause] afforded it the ability to invest significant resources behind R&amp;D and advertising [Relation] enable [Effect] Kellogg also maintains a cost edge",
    "gold": "[Cause]  Kellogg also maintains a cost edge [Relation] enable [Effect] afforded it the ability to invest significant resources behind R&amp;D and advertising",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm's advertising profile is particularly salient to us, as this line item is typically the most direct customer acquisition cost for many consumer packaged goods businesses.",
    "output": "[Cause] this line item is typically the most direct customer acquisition cost for many consumer packaged goods businesses [Relation] cause [Effect] The firm's advertising profile is particularly salient to us",
    "gold": "[Cause] this line item is typically the most direct customer acquisition cost for many consumer packaged goods businesses [Relation] enable [Effect] The firm's advertising profile is particularly salient to us",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the number of users and cumulative spend under management (CSUM) within Coupa grows, Coupa's AI has access to greater quantities of spending data.",
    "output": "[Cause] the number of users and cumulative spend under management (CSUM) within Coupa grows [Relation] cause [Effect] Coupa's AI has access to greater quantities of spending data",
    "gold": "[Cause] the number of users and cumulative spend under management (CSUM) within Coupa grows [Relation] enable [Effect] Coupa's AI has access to greater quantities of spending data",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Juniper revamped its cloud vertical product strategy to strip out extraneous features that the tech-savvy cloud customers did not require and focused on developing wide-area network software.",
    "output": "[Cause] Juniper revamped its cloud vertical product strategy [Relation] enable [Effect] strip out extraneous features that the tech-savvy cloud customers did not require and focused on developing wide-area network software",
    "gold": "[Cause] Juniper revamped its cloud vertical product strategy [Relation] cause [Effect] strip out extraneous features that the tech-savvy cloud customers did not require and focused on developing wide-area network software",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, our model incorporates meaningful acquisitions during our five-year explicit forecast term, helping boost total revenue growth to roughly 11% annually.",
    "output": "[Cause] our model incorporates meaningful acquisitions during our five-year explicit forecast term [Relation] enable [Effect] boost total revenue growth to roughly 11% annually",
    "gold": "[Cause] our model incorporates meaningful acquisitions during our five-year explicit forecast term [Relation] enable [Effect] boost total revenue growth to roughly 11% annually",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With its focus on making the complex healthcare system simpler and driving better health outcomes for end users, Humana generally leads the health insurance group in terms of customer satisfaction, which contributes to some intangible assets, in our opinion.",
    "output": "[Cause] its focus on making the complex healthcare system simpler and driving better health outcomes for end users [Relation] cause [Effect] Humana generally leads the health insurance group in terms of customer satisfaction",
    "gold": "[Cause] its focus on making the complex healthcare system simpler and driving better health outcomes for end users [Relation] cause [Effect] Humana generally leads the health insurance group in terms of customer satisfaction",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With its focus on making the complex healthcare system simpler and driving better health outcomes for end users, Humana generally leads the health insurance group in terms of customer satisfaction, which contributes to some intangible assets, in our opinion.",
    "output": "[Cause] Humana generally leads the health insurance group in terms of customer satisfaction [Relation] cause [Effect] contributes to some intangible assets",
    "gold": "[Cause] Humana generally leads the health insurance group in terms of customer satisfaction [Relation] cause [Effect] contributes to some intangible assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While a local country's domestic rating agency could have value for its domestic bonds, a rating from a Big Three firm is critical for a cross-border marketed security, as global investors desire broad comparability across global bonds.",
    "output": "[Cause] global investors desire broad comparability across global bonds [Relation] cause [Effect] a rating from a Big Three firm is critical for a cross-border marketed security",
    "gold": "[Cause] global investors desire broad comparability across global bonds [Relation] cause [Effect]  a rating from a Big Three firm is critical for a cross-border marketed security",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm has profited from increases in miles driven and average vehicle age as well as the benefits of its expansive distribution network in ensuring part availability, leading to adjusted returns on invested capital that have grown more than 900 basis points since 2010, to 22% in 2019.",
    "output": "[Cause] The firm has profited from increases in miles driven and average vehicle age as well as the benefits of its expansive distribution network in ensuring part availability [Relation] cause [Effect] adjusted returns on invested capital that have grown more than 900 basis points since 2010, to 22% in 2019",
    "gold": "[Cause] The firm has profited from increases in miles driven and average vehicle age as well as the benefits of its expansive distribution network in ensuring part availability [Relation] cause [Effect] adjusted returns on invested capital that have grown more than 900 basis points since 2010, to 22% in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Accellacare enhances the patient experience either at traditional clinical testing sites or at home as part of integrated operations with Symphony. This approach is leading to higher patient recruitment in a shorter time frame and greater retention rates for clinical trials.",
    "output": "[Cause] Accellacare enhances the patient experience either at traditional clinical testing sites or at home as part of integrated operations with Symphony [Relation] cause [Effect] higher patient recruitment in a shorter time frame and greater retention rates for clinical trials",
    "gold": "[Cause] Accellacare enhances the patient experience either at traditional clinical testing sites or at home as part of integrated operations with Symphony [Relation] cause [Effect]  higher patient recruitment in a shorter time frame and greater retention rates for clinical trials",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While some of Medtronic's product lines have waned as new clinical data has altered treatment guidelines, the firm continues to invest in emerging technologies, including renal denervation and transcatheter mitral valves, that should drive future growth.",
    "output": "[Cause] new clinical data has altered treatment guidelines [Relation] cause [Effect] some of Medtronic's product lines have waned",
    "gold": "[Cause] the firm continues to invest in emerging technologies, including renal denervation and transcatheter mitral valves [Relation] enable [Effect] drive future growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We are confident that CBRE will be able to outearn its cost of capital over the next 10 years, particularly because its product mix has become more contractual and less cyclical compared with the previous downturn.",
    "output": "[Cause] its product mix has become more contractual and less cyclical compared with the previous downturn [Relation] cause [Effect] CBRE will be able to outearn its cost of capital over the next 10 years",
    "gold": "[Cause] its product mix has become more contractual and less cyclical compared with the previous downturn [Relation] cause [Effect] CBRE will be able to outearn its cost of capital over the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The increased supply will either lower housing prices to the point that renters can afford to purchase a home or create new rental housing stock that will compete with Invitation Homes' portfolio.",
    "output": "[Cause] The increased supply [Relation] cause [Effect] lower housing prices to the point that renters can afford to purchase a home or create new rental housing stock that will compete with Invitation Homes' portfolio",
    "gold": "[Cause] The increased supply [Relation] cause [Effect] lower housing prices to the point that renters can afford to purchase a home or create new rental housing stock that will compete with Invitation Homes' portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, Conagra operates with a more complex supply chain network, as 90% of its products are produced in only one location.",
    "output": "[Cause] 90% of its products are produced in only one location [Relation] cause [Effect] Conagra operates with a more complex supply chain network",
    "gold": "[Cause] 90% of its products are produced in only one location [Relation] cause [Effect] Conagra operates with a more complex supply chain network",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At a minimum, we think the anti-immigration stance of the current administration has hampered immigrant populations and industry growth, and we see significant event risk if the industry is directly targeted.",
    "output": "[Cause] the anti-immigration stance of the current administration [Relation] prevent [Effect] immigrant populations and industry growth",
    "gold": "[Cause] the anti-immigration stance of the current administration [Relation] prevent [Effect] immigrant populations and industry growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At a minimum, we think the anti-immigration stance of the current administration has hampered immigrant populations and industry growth, and we see significant event risk if the industry is directly targeted.",
    "output": "[Cause] the industry is directly targeted [Relation] cause [Effect] significant event risk",
    "gold": "[Cause] the industry is directly targeted [Relation] cause [Effect] significant event risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we think peer Schlumberger is unparalleled in its understanding of oil and gas reservoirs, Halliburton leads in understanding the interaction between the reservoir and the wellbore. This understanding has long delivered Halliburton an edge in cementing services, completion equipment, frac chemicals, and similar products and services.",
    "output": "[Cause] peer Schlumberger is unparalleled in its understanding of oil and gas reservoirs, Halliburton leads in understanding the interaction between the reservoir and the wellbore [Relation] cause [Effect] long delivered Halliburton an edge in cementing services, completion equipment, frac chemicals, and similar products and services",
    "gold": "[Cause]  peer Schlumberger is unparalleled in its understanding of oil and gas reservoirs, Halliburton leads in understanding the interaction between the reservoir and the wellbore [Relation] enable [Effect]  long delivered Halliburton an edge in cementing services, completion equipment, frac chemicals, and similar products and services",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see a nice growth runway for Masco as the company capitalizes on improving end markets and internal growth initiatives across its remaining plumbing and decorative architectural platforms.",
    "output": "[Cause] the company capitalizes on improving end markets and internal growth initiatives across its remaining plumbing and decorative architectural platforms [Relation] cause [Effect] a nice growth runway for Masco",
    "gold": "[Cause]  the company capitalizes on improving end markets and internal growth initiatives across its remaining plumbing and decorative architectural platforms [Relation] cause [Effect] a nice growth runway for Masco",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our estimate is significantly below the most recent levels, as we do not view the current growth to be sustainable for the foreseeable future as implied by the current share price.",
    "output": "[Cause] we do not view the current growth to be sustainable for the foreseeable future as implied by the current share price [Relation] cause [Effect] Our estimate is significantly below the most recent levels",
    "gold": "[Cause] we do not view the current growth to be sustainable for the foreseeable future as implied by the current share price [Relation] cause [Effect] Our estimate is significantly below the most recent levels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We've been lifting our midcycle OR assumptions for most of the rails, despitefirst-quarter weather headwinds, given continued PSR-related advancements to incremental margins.",
    "output": "[Cause] continued PSR-related advancements to incremental margins [Relation] cause [Effect] lifting our midcycle OR assumptions for most of the rails",
    "gold": "[Cause] lifting our midcycle OR assumptions for most of the rails [Relation] enable [Effect] continued PSR-related advancements to incremental margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, Farfetch can help brands establish themselves with younger luxury consumers; luxury company management teams are concerned about appealing to the millennial demographic, given their rising purchasing power.",
    "output": "[Cause] their rising purchasing power [Relation] cause [Effect] luxury company management teams are concerned about appealing to the millennial demographic",
    "gold": "[Cause] their rising purchasing power [Relation] enable [Effect] luxury company management teams are concerned about appealing to the millennial demographic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that in an era where competitive differentiation is increasingly driven by technology-enabled analytics and algorithms, the data feedback loop that these retail relationships engender will serve to perpetuate Pepsi's advantage.",
    "output": "[Cause] technology-enabled analytics and algorithms [Relation] enable [Effect] competitive differentiation is increasingly driven",
    "gold": "[Cause] the data feedback loop that these retail relationships engender [Relation] enable [Effect] perpetuate Pepsi's advantage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think that in an era where competitive differentiation is increasingly driven by technology-enabled analytics and algorithms, the data feedback loop that these retail relationships engender will serve to perpetuate Pepsi's advantage.",
    "output": "[Cause] the data feedback loop that these retail relationships engender [Relation] enable [Effect] perpetuate Pepsi's advantage",
    "gold": "[Cause] technology-enabled analytics and algorithms [Relation] enable [Effect] competitive differentiation is increasingly driven",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Within our base case scenario, we expect revenue to grow at a compounded annual growth rate of 38% through 2024. This growth will be a result of increased usage of core products by existing customers, as well as an increase in new customers (we anticipate growth at a 25% CAGR over the next five years).",
    "output": "[Cause] increased usage of core products by existing customers, as well as an increase in new customers [Relation] cause [Effect] revenue to grow at a compounded annual growth rate of 38% through 2024",
    "gold": "[Cause] revenue to grow at a compounded annual growth rate of 38% through 2024 [Relation] cause [Effect]  increased usage of core products by existing customers, as well as an increase in new customers (we anticipate growth at a 25% CAGR over the next five years)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This helped the other two operators gain greater market share of 3G customers than in 2G and helped its home-grown technology, which reduced fees to Qualcomm for the use of its technology designs.",
    "output": "[Cause] This helped the other two operators gain greater market share of 3G customers than in 2G and helped its home-grown technology [Relation] enable [Effect] reduced fees to Qualcomm for the use of its technology designs",
    "gold": "[Cause] reduced fees to Qualcomm for the use of its technology designs [Relation] enable [Effect] This helped the other two operators gain greater market share of 3G customers than in 2G and helped its home-grown technology",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Asbury tends to have one of the lowest SG&A as a percentage of gross profit ratios in the dealer sector, so it is a top operator.",
    "output": "[Cause] Asbury tends to have one of the lowest SG&A as a percentage of gross profit ratios in the dealer sector [Relation] cause [Effect] it is a top operator",
    "gold": "[Cause] Asbury tends to have one of the lowest SG&A as a percentage of gross profit ratios in the dealer sector [Relation] cause [Effect]  it is a top operator",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A private bank that offers its clients transactional and lending products raises switching costs compared with wealth management businesses that only offer investment products.",
    "output": "[Cause] offers its clients transactional and lending products [Relation] cause [Effect] raises switching costs",
    "gold": "[Cause] offers its clients transactional and lending products [Relation] cause [Effect] raises switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Similarly, Urban Outfitters' ROICs dropped to 9% in fiscal 2020 from 18% in 2014, and then fell to just 1% in fiscal 2021 due to the pandemic.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] Urban Outfitters' ROICs dropped to 9% in fiscal 2020 from 18% in 2014, and then fell to just 1% in fiscal 2021",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] Urban Outfitters' ROICs dropped to 9% in fiscal 2020 from 18% in 2014, and then fell to just 1% in fiscal 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customers tend to exhibit little brand loyalty and thus there is no pricing power, with all premium players' tools typically being present at their customers manufacturing sites.",
    "output": "[Cause] Customers tend to exhibit little brand loyalty [Relation] cause [Effect] there is no pricing power",
    "gold": "[Cause] there is no pricing power [Relation] cause [Effect] all premium players' tools typically being present at their customers manufacturing sites",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Customers tend to exhibit little brand loyalty and thus there is no pricing power, with all premium players' tools typically being present at their customers manufacturing sites.",
    "output": "[Cause] Customers tend to exhibit little brand loyalty [Relation] cause [Effect] there is no pricing power",
    "gold": "[Cause] Customers tend to exhibit little brand loyalty [Relation] cause [Effect] there is no pricing power",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume advanced wound-care growth declines in the low-single-digit range as those products are still primarily associated with patient acuity, trauma, and chronic conditions, such as diabetes.",
    "output": "[Cause] those products are still primarily associated with patient acuity, trauma, and chronic conditions, such as diabetes [Relation] cause [Effect] advanced wound-care growth declines in the low-single-digit range",
    "gold": "[Cause] those products are still primarily associated with patient acuity, trauma, and chronic conditions, such as diabetes [Relation] cause [Effect] advanced wound-care growth declines in the low-single-digit range",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In terms of cost advantage, increasing fleet size doesn't automatically translate into lower costs. This is partly because a truckload carrier can't boost route density by adding more customers, as by definition it hauls a full-trailer load from point A to point B for one customer at a time.",
    "output": "[Cause] a truckload carrier can't boost route density by adding more customers, as by definition it hauls a full-trailer load from point A to point B for one customer at a time [Relation] cause [Effect] In terms of cost advantage, increasing fleet size doesn't automatically translate into lower costs",
    "gold": "[Cause]  a truckload carrier can't boost route density by adding more customers, as by definition it hauls a full-trailer load from point A to point B for one customer at a time [Relation] cause [Effect] In terms of cost advantage, increasing fleet size doesn't automatically translate into lower costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see non-GAAP operating margin expanding from 14% in fiscal 2020 (actual) to the low 20% area by fiscal 2025, largely as a result of cloud revenues scaling.",
    "output": "[Cause] cloud revenues scaling [Relation] cause [Effect] non-GAAP operating margin expanding from 14% in fiscal 2020 (actual) to the low 20% area by fiscal 2025",
    "gold": "[Cause] cloud revenues scaling [Relation] cause [Effect] non-GAAP operating margin expanding from 14% in fiscal 2020 (actual) to the low 20% area by fiscal 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Corporates are less likely to use risk-management products that BNP Paribas offers and \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"bid-ask\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" spreads have narrowed; this should lead to a normalisation of trading revenue.",
    "output": "[Cause] Corporates are less likely to use risk-management products that BNP Paribas offers and \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"",
    "gold": "[Cause] Corporates are less likely to use risk-management products that BNP Paribas offers and \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"bid-ask\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" spreads have narrowed [Relation] cause [Effect] a normalisation of trading revenue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Since brokers are primarily compensated via commission that varies with productivity, it is likewise important for ambitious employees to work for firms with a strong reputation and a deep network in their desired market. This dynamic has created a virtuous cycle for CBRE, allowing it to simultaneously retain top talent and poach employees from its competitors.",
    "output": "[Cause] Since brokers are primarily compensated via commission that varies with productivity, it is likewise important for ambitious employees to work for firms with a strong reputation and a deep network in their desired market [Relation] cause [Effect] created a virtuous cycle for CBRE, allowing it to simultaneously retain top talent and poach employees from its competitors",
    "gold": "[Cause] Since brokers are primarily compensated via commission that varies with productivity, it is likewise important for ambitious employees to work for firms with a strong reputation and a deep network in their desired market [Relation] enable [Effect] created a virtuous cycle for CBRE, allowing it to simultaneously retain top talent and poach employees from its competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe its marketplace will benefit from Walmart's recent move to permit in-store returns for items bought on its platform, improving convenience and buying confidence for customers and therefore boosting the value of the venue to third-party sellers.",
    "output": "[Cause] Walmart's recent move to permit in-store returns for items bought on its platform [Relation] enable [Effect] improving convenience and buying confidence for customers and therefore boosting the value of the venue to third-party sellers",
    "gold": "[Cause] Walmart's recent move to permit in-store returns for items bought on its platform [Relation] enable [Effect] improving convenience and buying confidence for customers and therefore boosting the value of the venue to third-party sellers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "CMS' transformation during the past decade into a mostly regulated utility has set it up for a long runway of growth during the next decade.",
    "output": "[Cause] CMS' transformation during the past decade into a mostly regulated utility [Relation] enable [Effect] set it up for a long runway of growth during the next decade",
    "gold": "[Cause] CMS' transformation during the past decade into a mostly regulated utility [Relation] enable [Effect] set it up for a long runway of growth during the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As refrigerated options gain traction in the side dish market (they are reporting high-single-digit growth rates on average), the brand's presence should become increasingly prevalent in the broader side dish category.",
    "output": "[Cause] refrigerated options gain traction in the side dish market [Relation] cause [Effect] the brand's presence should become increasingly prevalent in the broader side dish category",
    "gold": "[Cause] refrigerated options gain traction in the side dish market [Relation] cause [Effect] the brand's presence should become increasingly prevalent in the broader side dish category",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, the company's rapid growth, even from a sizable revenue base of $880 million last year suggests the software resonates with customers.",
    "output": "[Cause] the company's rapid growth, even from a sizable revenue base of $880 million last year [Relation] enable [Effect] the software resonates with customers",
    "gold": "[Cause] the company's rapid growth, even from a sizable revenue base of $880 million last year [Relation] cause [Effect] the software resonates with customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With regulatory and political backing, CMS plans at least $25 billion of investment during the next 10 years, including more than $13 billion during the next five years.",
    "output": "[Cause] regulatory and political backing [Relation] enable [Effect] CMS plans at least $25 billion of investment during the next 10 years",
    "gold": "[Cause] regulatory and political backing [Relation] enable [Effect] CMS plans at least $25 billion of investment during the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, we expect successful contract repricing to enable margins to stabilize sequentially as the year progresses, and normalize upward in 2022.",
    "output": "[Cause] successful contract repricing [Relation] enable [Effect] enable margins to stabilize sequentially as the year progresses, and normalize upward in 2022",
    "gold": "[Cause]  successful contract repricing [Relation] enable [Effect] enable margins to stabilize sequentially as the year progresses, and normalize upward in 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the pandemic could slightly slow the launch of Novo's new oral GLP-1 therapy Rybelsus, we expect Novo to gain $19 billion of a potential $26 billion global GLP-1 market in diabetes by 2029, with Lilly standing as the firm's key competitor.",
    "output": "[Cause] the pandemic [Relation] prevent [Effect] launch of Novo's new oral GLP-1 therapy Rybelsus",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] slightly slow the launch of Novo's new oral GLP-1 therapy Rybelsus |  Novo to gain $19 billion of a potential $26 billion global GLP-1 market in diabetes by 2029",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think DT's strong mobile offerings coupled with customer demand for higher data usage should help the firm easily differentiate from its rivals.",
    "output": "[Cause] DT's strong mobile offerings coupled with customer demand for higher data usage [Relation] enable [Effect] the firm easily differentiate from its rivals",
    "gold": "[Cause] DT's strong mobile offerings coupled with customer demand for higher data usage [Relation] cause [Effect]  the firm easily differentiate from its rivals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The high switching costs of the capital equipment lay a path for the purchase of consumables, and we think many customers would be unwilling to incur the required costs of overhauling their equipment to switch to an unproven supplier of reprocessors.",
    "output": "[Cause] The high switching costs of the capital equipment lay a path for the purchase of consumables [Relation] cause [Effect] many customers would be unwilling to incur the required costs of overhauling their equipment to switch to an unproven supplier of reprocessors",
    "gold": "[Cause] The high switching costs of the capital equipment lay a path for the purchase of consumables [Relation] cause [Effect] many customers would be unwilling to incur the required costs of overhauling their equipment to switch to an unproven supplier of reprocessors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Certain parts of chip design can be outsourced, reducing time spent developing more standardized aspects of a chip and allowing for more focus on customizable, differentiated components.",
    "output": "[Cause] Certain parts of chip design can be outsourced [Relation] enable [Effect] reducing time spent developing more standardized aspects of a chip and allowing for more focus on customizable, differentiated components",
    "gold": "[Cause] Certain parts of chip design can be outsourced [Relation] cause [Effect] reducing time spent developing more standardized aspects of a chip and allowing for more focus on customizable, differentiated components",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As more and more electronic devices become \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"smarter\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" and connected to the Internet, Microchip's MCUs and analog chips stand to benefit.",
    "output": "[Cause] more and more electronic devices become \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"",
    "gold": "[Cause] more and more electronic devices become \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"smarter\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" and connected to the Internet [Relation] cause [Effect] Microchip's MCUs and analog chips stand to benefit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As a commodity producer, the firm has no pricing power over the fertilizer products it sells, and oversupply by competitors is always a threat to crop nutrient price levels.",
    "output": "[Cause] the firm has no pricing power over the fertilizer products it sells [Relation] cause [Effect] oversupply by competitors is always a threat to crop nutrient price levels",
    "gold": "[Cause] oversupply by competitors [Relation] prevent [Effect] crop nutrient price levels",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As with all regulated utilities, Alliant Energy faces the risk of an inflationary environment that would raise borrowing costs and make other investments more attractive for income-seeking investors.",
    "output": "[Cause] Alliant Energy faces the risk of an inflationary environment [Relation] cause [Effect] raise borrowing costs and make other investments more attractive for income-seeking investors",
    "gold": "[Cause] Alliant Energy faces the risk of an inflationary environment [Relation] enable [Effect]  raise borrowing costs and make other investments more attractive for income-seeking investors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Social distancing restrictions could continue to compound mall traffic declines, sending higher mix of transactions through the historically less profitable e-commerce channel (which is inherently plagued by higher shipping costs).",
    "output": "[Cause] Social distancing restrictions [Relation] cause [Effect] compound mall traffic declines",
    "gold": "[Cause] the historically less profitable e-commerce channel (which is inherently plagued by higher shipping costs) [Relation] enable [Effect] sending higher mix of transactions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the volatile price swings of the raw materials needed to raise chickens (primarily corn or wheat and soybean meal), the poultry industry moved to cost-based pricing after huge spikes in feed costs led to operating losses for most poultry producers in 2008 and 2011.",
    "output": "[Cause] the volatile price swings of the raw materials needed to raise chickens (primarily corn or wheat and soybean meal) [Relation] cause [Effect] the poultry industry moved to cost-based pricing",
    "gold": "[Cause] the volatile price swings of the raw materials needed to raise chickens [Relation] cause [Effect] huge spikes in feed costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the volatile price swings of the raw materials needed to raise chickens (primarily corn or wheat and soybean meal), the poultry industry moved to cost-based pricing after huge spikes in feed costs led to operating losses for most poultry producers in 2008 and 2011.",
    "output": "[Cause] huge spikes in feed costs [Relation] cause [Effect] operating losses for most poultry producers in 2008 and 2011",
    "gold": "[Cause] huge spikes in feed costs [Relation] cause [Effect] operating losses for most poultry producers in 2008 and 2011",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the volatile price swings of the raw materials needed to raise chickens (primarily corn or wheat and soybean meal), the poultry industry moved to cost-based pricing after huge spikes in feed costs led to operating losses for most poultry producers in 2008 and 2011.",
    "output": "[Cause] huge spikes in feed costs [Relation] cause [Effect] operating losses for most poultry producers in 2008 and 2011",
    "gold": "[Cause] operating losses for most poultry producers in 2008 and 2011 [Relation] cause [Effect] the poultry industry moved to cost-based pricing",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, the contracts offer little in the way of volume protection in our view, and more volume volatility due to COVID-19 reduces asset efficiency, utilization, and returns.",
    "output": "[Cause] more volume volatility due to COVID-19 [Relation] cause [Effect] reduces asset efficiency, utilization, and returns",
    "gold": "[Cause] COVID-19 reduces asset efficiency, utilization, and returns [Relation] cause [Effect]  the contracts offer little in the way of volume protection in our view, and more volume volatility",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Merchant customers, on the other hand, do face switching costs as they typically enter into 3-7 year contracts and often rely on industrial gas companies for storage and vaporization.",
    "output": "[Cause] they typically enter into 3-7 year contracts and often rely on industrial gas companies for storage and vaporization [Relation] cause [Effect] face switching costs",
    "gold": "[Cause] they typically enter into 3-7 year contracts and often rely on industrial gas companies for storage and vaporization [Relation] cause [Effect] face switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The expansion mainly comes from gross margin increasing into the low 60% range versus 58% in 2020 as we expect a larger portion of software sales to favorably impact product costs.",
    "output": "[Cause] a larger portion of software sales to favorably impact product costs [Relation] cause [Effect] The expansion mainly comes from gross margin increasing into the low 60% range versus 58% in 2020",
    "gold": "[Cause] a larger portion of software sales to favorably impact product costs [Relation] cause [Effect] The expansion mainly comes from gross margin increasing into the low 60% range versus 58% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given our anticipation of more normalized growth after a modestly down 2019 and 2020, we forecast annual revenue growth for Agco to average approximately 4% between 2021 and 2024.",
    "output": "[Cause] our anticipation of more normalized growth after a modestly down 2019 and 2020 [Relation] cause [Effect] annual revenue growth for Agco to average approximately 4% between 2021 and 2024",
    "gold": "[Cause] our anticipation of more normalized growth after a modestly down 2019 and 2020 [Relation] cause [Effect] annual revenue growth for Agco to average approximately 4% between 2021 and 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Chief among these is greater production line changeover, which reduces the amount of throughput and fixed cost leverage it can achieve.",
    "output": "[Cause] greater production line changeover [Relation] cause [Effect] reduces the amount of throughput and fixed cost leverage it can achieve",
    "gold": "[Cause] greater production line changeover [Relation] enable [Effect]  reduces the amount of throughput and fixed cost leverage it can achieve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fixed costs associated with blast furnaces are higher because once a blast furnace is started, it will typically run for years at a time.",
    "output": "[Cause] once a blast furnace is started, it will typically run for years at a time [Relation] cause [Effect] Fixed costs associated with blast furnaces are higher",
    "gold": "[Cause] once a blast furnace is started, it will typically run for years at a time [Relation] cause [Effect] Fixed costs associated with blast furnaces are higher",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, technological advances continually improve networking efficiency and enable less costly solutions to store and transport data. Consequently, even in Lumen's business segments, which account for over 70% of total revenue, we think revenue is likely to continue declining.",
    "output": "[Cause] technological advances continually improve networking efficiency and enable less costly solutions to store and transport data [Relation] cause [Effect] even in Lumen's business segments, which account for over 70% of total revenue, we think revenue is likely to continue declining",
    "gold": "[Cause] technological advances continually improve networking efficiency and enable less costly solutions to store and transport data [Relation] cause [Effect] even in Lumen's business segments, which account for over 70% of total revenue, we think revenue is likely to continue declining",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, we think Lennar's gross margins will converge closer to the industry average over the coming years as the company exhausts its lower-cost land supply, increasingly relies on more-capital-friendly but lower margin optioned land, and as peers replicate successful marketing and building efficiency strategies.",
    "output": "[Cause] the company exhausts its lower-cost land supply [Relation] cause [Effect] Lennar's gross margins will converge closer to the industry average over the coming years",
    "gold": "[Cause] the company exhausts its lower-cost land supply [Relation] cause [Effect] increasingly relies on more-capital-friendly but lower margin optioned land, and as peers replicate successful marketing and building efficiency strategies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Cash flow from these mature assets is being deployed to fund the buildout of the emerging Flat Lake and Uinta assets, which could represent the next significant growth pillar.",
    "output": "[Cause] Cash flow from these mature assets is being deployed to fund the buildout of the emerging Flat Lake and Uinta assets [Relation] enable [Effect] represent the next significant growth pillar",
    "gold": "[Cause] Cash flow from these mature assets is being deployed to fund the buildout of the emerging Flat Lake and Uinta assets [Relation] enable [Effect] represent the next significant growth pillar",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Tenneco's ride-control products provide resistance between the vehicle and the tires so that the tires maintain contact with the road surface, critical to safety under various road conditions and vehicle-handling maneuvers, as well as varying and shifting weight loads.",
    "output": "[Cause] Tenneco's ride-control products provide resistance between the vehicle and the tires [Relation] enable [Effect] the tires maintain contact with the road surface, critical to safety under various road conditions and vehicle-handling maneuvers, as well as varying and shifting weight loads",
    "gold": "[Cause] Tenneco's ride-control products provide resistance between the vehicle and the tires [Relation] cause [Effect]  the tires maintain contact with the road surface, critical to safety under various road conditions and vehicle-handling maneuvers, as well as varying and shifting weight loads",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "First, a prolonged downturn in new commercial and residential construction would hurt the company's financial performance; however, Allegion's aftermarket exposure helps to dampen the firm's cyclicality.",
    "output": "[Cause] a prolonged downturn in new commercial and residential construction [Relation] cause [Effect] hurt the company's financial performance",
    "gold": "[Cause]  a prolonged downturn in new commercial and residential construction [Relation] cause [Effect] hurt the company's financial performance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "First, a prolonged downturn in new commercial and residential construction would hurt the company's financial performance; however, Allegion's aftermarket exposure helps to dampen the firm's cyclicality.",
    "output": "[Cause] Allegion's aftermarket exposure [Relation] enable [Effect] dampen the firm's cyclicality",
    "gold": "[Cause]  Allegion's aftermarket exposure [Relation] prevent [Effect] dampen the firm's cyclicality",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Mattel continues to wind down some of its manufacturing, ROICs should increase, with the most capital-intensive portion of the business eliminated.",
    "output": "[Cause] Mattel continues to wind down some of its manufacturing [Relation] cause [Effect] ROICs should increase, with the most capital-intensive portion of the business eliminated",
    "gold": "[Cause] Mattel continues to wind down some of its manufacturing [Relation] cause [Effect] ROICs should increase, with the most capital-intensive portion of the business eliminated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The relatively low visibility of the gaming business and intense competition with Bytedance entering the space can lead to volatility in gaming earnings.",
    "output": "[Cause] The relatively low visibility of the gaming business and intense competition with Bytedance entering the space [Relation] cause [Effect] volatility in gaming earnings",
    "gold": "[Cause] The relatively low visibility of the gaming business and intense competition with Bytedance entering the space [Relation] cause [Effect] volatility in gaming earnings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, Federal's portfolio should see steady but low growth over the next decade as the retail landscape adjusts to the emergence of e-commerce.",
    "output": "[Cause] the retail landscape adjusts to the emergence of e-commerce [Relation] cause [Effect] Federal's portfolio should see steady but low growth over the next decade",
    "gold": "[Cause] the retail landscape adjusts to the emergence of e-commerce [Relation] cause [Effect] Federal's portfolio should see steady but low growth over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate slower recovery in the surgical and dermatology segments, with resilience in pharma providing a counterweight to the pandemic's effect on the business units more exposed to consumer purchasing power.",
    "output": "[Cause] resilience in pharma [Relation] enable [Effect] a counterweight to the pandemic's effect on the business units more exposed to consumer purchasing power",
    "gold": "[Cause] resilience in pharma [Relation] enable [Effect] a counterweight to the pandemic's effect on the business units more exposed to consumer purchasing power",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate slower recovery in the surgical and dermatology segments, with resilience in pharma providing a counterweight to the pandemic's effect on the business units more exposed to consumer purchasing power.",
    "output": "[Cause] resilience in pharma [Relation] enable [Effect] a counterweight to the pandemic's effect on the business units more exposed to consumer purchasing power",
    "gold": "[Cause] resilience in pharma [Relation] enable [Effect] We anticipate slower recovery in the surgical and dermatology segments",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we believe Carnival could generate ROICs, including goodwill (7% average) below our weighted average cost of capital over the next decade, hindered by the secular fall out stemming from COVID-19.",
    "output": "[Cause] the secular fall out stemming from COVID-19 [Relation] prevent [Effect] Carnival could generate ROICs, including goodwill (7% average) below our weighted average cost of capital over the next decade",
    "gold": "[Cause] the secular fall out stemming from COVID-19 [Relation] prevent [Effect] Carnival could generate ROICs, including goodwill (7% average) below our weighted average cost of capital over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Waste Connections has a large amount of goodwill on its balance sheet from its 2016 merger with Progressive, and this dynamic has resulted in a relatively tight spread between the firm's return on invested capital and its cost of capital.",
    "output": "[Cause] Waste Connections has a large amount of goodwill on its balance sheet from its 2016 merger with Progressive [Relation] cause [Effect] a relatively tight spread between the firm's return on invested capital and its cost of capital",
    "gold": "[Cause] Waste Connections has a large amount of goodwill on its balance sheet from its 2016 merger with Progressive [Relation] cause [Effect] a relatively tight spread between the firm's return on invested capital and its cost of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The partnership agreements that Synchrony signs in these segments are often not exclusive, which means that a retailer could be offering multiple financing options alongside Synchrony's credit cards.",
    "output": "[Cause] The partnership agreements that Synchrony signs in these segments are often not exclusive [Relation] cause [Effect] a retailer could be offering multiple financing options alongside Synchrony's credit cards",
    "gold": "[Cause] The partnership agreements that Synchrony signs in these segments are often not exclusive [Relation] cause [Effect] a retailer could be offering multiple financing options alongside Synchrony's credit cards",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, with much more stable cash flows than most of the other asset managers in our coverage universe, we expect BlackRock to continually invest capital back into its business at a rate that far exceeds the capabilities of its peers.",
    "output": "[Cause] much more stable cash flows than most of the other asset managers in our coverage universe [Relation] cause [Effect] we expect BlackRock to continually invest capital back into its business at a rate that far exceeds the capabilities of its peers",
    "gold": "[Cause] much more stable cash flows than most of the other asset managers in our coverage universe [Relation] enable [Effect]  we expect BlackRock to continually invest capital back into its business at a rate that far exceeds the capabilities of its peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "TransAlta raised its quarterly dividend by 6.3% in 2020 and another 5.9% in the 2021 first quarter, supporting our opinion that the dividend is now secure.",
    "output": "[Cause] TransAlta raised its quarterly dividend by 6.3% in 2020 and another 5.9% in the 2021 first quarter [Relation] enable [Effect] the dividend is now secure",
    "gold": "[Cause] TransAlta raised its quarterly dividend by 6.3% in 2020 and another 5.9% in the 2021 first quarter [Relation] cause [Effect] the dividend is now secure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While peers have turned to menu diversification and quality to carve out a niche, we view Domino's commitment to value and convenience as disciplined, doubling down on the firm's core competencies.",
    "output": "[Cause] Domino's commitment to value and convenience as disciplined [Relation] enable [Effect] doubling down on the firm's core competencies",
    "gold": "[Cause] Domino's commitment to value and convenience as disciplined [Relation] enable [Effect] doubling down on the firm's core competencies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If a CN or CP merger fails to receive regulatory approval, our fair value estimate would revert to our $169 DCF-derived fair value estimate for stand-alone KCS.",
    "output": "[Cause] a CN or CP merger fails to receive regulatory approval [Relation] cause [Effect] our fair value estimate would revert to our $169 DCF-derived fair value estimate for stand-alone KCS",
    "gold": "[Cause] a CN or CP merger fails to receive regulatory approval [Relation] cause [Effect] our fair value estimate would revert to our $169 DCF-derived fair value estimate for stand-alone KCS",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the past couple of years, SQM increased its market share to 35% by the end of 2017 through a volume-over-price strategy, which caused iodine prices to fall.",
    "output": "[Cause] a volume-over-price strategy [Relation] cause [Effect] SQM increased its market share to 35% by the end of 2017",
    "gold": "[Cause] SQM increased its market share to 35% by the end of 2017 through a volume-over-price strategy [Relation] cause [Effect]  iodine prices to fall",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In fact, we suspect that absent government intervention, the rational number of competitors on the continent would be two, via additional consolidation. This is because in most regions customers already have only two capable providers that service the market effectively and efficiently.",
    "output": "[Cause] in most regions customers already have only two capable providers that service the market effectively and efficiently [Relation] cause [Effect] absent government intervention, the rational number of competitors on the continent would be two, via additional consolidation",
    "gold": "[Cause] in most regions customers already have only two capable providers that service the market effectively and efficiently [Relation] cause [Effect] absent government intervention, the rational number of competitors on the continent would be two, via additional consolidation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We predict it will elicit a high-single-digit-plus percentage sales CAGR over the next five years given the size of the addressable market, as well as growth in e-commerce volume.",
    "output": "[Cause] the size of the addressable market, as well as growth in e-commerce volume [Relation] cause [Effect] it will elicit a high-single-digit-plus percentage sales CAGR over the next five years",
    "gold": "[Cause] the size of the addressable market, as well as growth in e-commerce volume [Relation] cause [Effect]  it will elicit a high-single-digit-plus percentage sales CAGR over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The application of high-iron-content pig iron allows for the production of higher-strength steel than the use of scrap alone. As a result, the company is able to enjoy the flexibility of minimill production while competing in an arena otherwise dominated by blast furnace operators at favorable unit costs.",
    "output": "[Cause] The application of high-iron-content pig iron allows for the production of higher-strength steel than the use of scrap alone [Relation] cause [Effect] the company is able to enjoy the flexibility of minimill production while competing in an arena otherwise dominated by blast furnace operators at favorable unit costs",
    "gold": "[Cause] The application of high-iron-content pig iron allows for the production of higher-strength steel than the use of scrap alone [Relation] cause [Effect] the company is able to enjoy the flexibility of minimill production while competing in an arena otherwise dominated by blast furnace operators at favorable unit costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Frank's has also developed a core capability of continuous innovation to improve its operations and stay ahead of evolving market needs.",
    "output": "[Cause] Frank's has also developed a core capability of continuous innovation [Relation] enable [Effect] improve its operations and stay ahead of evolving market needs",
    "gold": "[Cause] Frank's has also developed a core capability of continuous innovation [Relation] enable [Effect]  improve its operations and stay ahead of evolving market needs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also believe these qualities will help Chipotle compete for market share ceded by smaller independents that are unable to survive extended periods of coronavirus-related restaurant regulation and guest traffic declines.",
    "output": "[Cause] these qualities [Relation] enable [Effect] help Chipotle compete for market share ceded by smaller independents that are unable to survive extended periods of coronavirus-related restaurant regulation and guest traffic declines",
    "gold": "[Cause]  that are unable to survive extended periods of coronavirus-related restaurant regulation and guest traffic declines [Relation] cause [Effect] We also believe these qualities will help Chipotle compete for market share ceded by smaller independents",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For instance, battery weight is a concern for on-road vehicles, as it may reduce payload capacity, while lack of convenient access to the grid is an issue for off-road applications.",
    "output": "[Cause] it may reduce payload capacity [Relation] cause [Effect] battery weight is a concern for on-road vehicles",
    "gold": "[Cause] it may reduce payload capacity [Relation] cause [Effect] battery weight is a concern for on-road vehicles",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Food cans have a low value/volume ratio, so shipping empty cans beyond 200-300 miles is unprofitable. As a result, opening a new plant tends to be viable only when demand changes materially within the shipping radius.",
    "output": "[Cause] Food cans have a low value/volume ratio, so shipping empty cans beyond 200-300 miles is unprofitable [Relation] cause [Effect] opening a new plant tends to be viable only when demand changes materially within the shipping radius",
    "gold": "[Cause] Food cans have a low value/volume ratio, so shipping empty cans beyond 200-300 miles is unprofitable [Relation] cause [Effect] opening a new plant tends to be viable only when demand changes materially within the shipping radius",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While all Corning's segments sell into very different applications, Corning is a leader in each one because of its proficiency in materials science, gained through 170 years of operation and innovation.",
    "output": "[Cause] its proficiency in materials science, gained through 170 years of operation and innovation [Relation] cause [Effect] Corning is a leader in each one",
    "gold": "[Cause] its proficiency in materials science, gained through 170 years of operation and innovation [Relation] enable [Effect] Corning is a leader in each one",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We like Texas Instruments' moves to buy manufacturing equipment at pennies on the dollar a decade ago, which jump-started the firm's efforts in production on 300-millimeter silicon wafers and enabled gross margin expansion.",
    "output": "[Cause] Texas Instruments' moves to buy manufacturing equipment at pennies on the dollar a decade ago [Relation] cause [Effect] jump-started the firm's efforts in production on 300-millimeter silicon wafers",
    "gold": "[Cause] Texas Instruments' moves to buy manufacturing equipment at pennies on the dollar a decade ago [Relation] cause [Effect] jump-started the firm's efforts in production on 300-millimeter silicon wafers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We like Texas Instruments' moves to buy manufacturing equipment at pennies on the dollar a decade ago, which jump-started the firm's efforts in production on 300-millimeter silicon wafers and enabled gross margin expansion.",
    "output": "[Cause] Texas Instruments' moves to buy manufacturing equipment at pennies on the dollar a decade ago [Relation] enable [Effect] gross margin expansion",
    "gold": "[Cause] Texas Instruments' moves to buy manufacturing equipment at pennies on the dollar a decade ago [Relation] enable [Effect] gross margin expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Preferences for electric frac spreads have also increased in recent years as E&Ps seek to mitigate their environmental impact.",
    "output": "[Cause] E&Ps seek to mitigate their environmental impact [Relation] cause [Effect] Preferences for electric frac spreads have also increased in recent years",
    "gold": "[Cause] E&Ps seek to mitigate their environmental impact [Relation] enable [Effect] Preferences for electric frac spreads have also increased in recent years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With solid cash flow generation ahead, we expect BRP will reinvest in product innovation, facilitate share repurchases, and increase its dividend over time.",
    "output": "[Cause] solid cash flow generation ahead [Relation] cause [Effect] BRP will reinvest in product innovation, facilitate share repurchases, and increase its dividend over time",
    "gold": "[Cause] BRP will reinvest in product innovation [Relation] enable [Effect]  share repurchases, and increase its dividend over time",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company is increasing its overseas exposure, which does provide growth opportunities but also exposes Imax to foreign-currency headwinds and individual country risks.",
    "output": "[Cause] The company is increasing its overseas exposure [Relation] enable [Effect] provide growth opportunities",
    "gold": "[Cause] The company is increasing its overseas exposure [Relation] enable [Effect] provide growth opportunities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company is increasing its overseas exposure, which does provide growth opportunities but also exposes Imax to foreign-currency headwinds and individual country risks.",
    "output": "[Cause] The company is increasing its overseas exposure [Relation] cause [Effect] exposes Imax to foreign-currency headwinds and individual country risks",
    "gold": "[Cause] The company is increasing its overseas exposure [Relation] cause [Effect] exposes Imax to foreign-currency headwinds and individual country risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think this is justified as the airline may need to use the cash on hand to fund unprofitable operations if the pandemic worsens.",
    "output": "[Cause] the pandemic worsens [Relation] cause [Effect] the airline may need to use the cash on hand to fund unprofitable operations",
    "gold": "[Cause] the pandemic worsens [Relation] cause [Effect]  the airline may need to use the cash on hand to fund unprofitable operations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Marvell has also bolstered its networking chip business through the acquisition of competitor Cavium. This acquisition significantly expanded the firm's reach into the infrastructure networking market, and Marvell is now able to serve clients in a variety of functions and price points.",
    "output": "[Cause] Marvell has also bolstered its networking chip business through the acquisition of competitor Cavium [Relation] enable [Effect] expanded the firm's reach into the infrastructure networking market, and Marvell is now able to serve clients in a variety of functions and price points",
    "gold": "[Cause] Marvell has also bolstered its networking chip business through the acquisition of competitor Cavium [Relation] enable [Effect]  expanded the firm's reach into the infrastructure networking market, and Marvell is now able to serve clients in a variety of functions and price points",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, competitors will quickly copy any categories that are unusually strong, and we think Anthropologie has little ability to draw shoppers consistently.",
    "output": "[Cause] competitors will quickly copy any categories that are unusually strong [Relation] cause [Effect] Anthropologie has little ability to draw shoppers consistently",
    "gold": "[Cause] that are unusually strong [Relation] cause [Effect]  competitors will quickly copy any categories",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect margin improvement to stall in fiscal 2021, as management has indicated that it will not pull back on investing in the business despite near-term headwinds.",
    "output": "[Cause] management has indicated that it will not pull back on investing in the business despite near-term headwinds [Relation] cause [Effect] margin improvement to stall in fiscal 2021",
    "gold": "[Cause] management has indicated that it will not pull back on investing in the business despite near-term headwinds [Relation] cause [Effect] margin improvement to stall in fiscal 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The increase in renewables, EVs, and cleaner ICE vehicles will likely have a modest impact on fossil fuel demand in the next 10 years.",
    "output": "[Cause] The increase in renewables, EVs, and cleaner ICE vehicles [Relation] cause [Effect] have a modest impact on fossil fuel demand in the next 10 years",
    "gold": "[Cause] The increase in renewables, EVs, and cleaner ICE vehicles [Relation] cause [Effect] have a modest impact on fossil fuel demand in the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Barriers to entry are very low for hotels in major metropolitan areas as cities encourage economic development that revitalizes an area and brings tourism dollars and taxable income to the city.",
    "output": "[Cause] cities encourage economic development that revitalizes an area and brings tourism dollars and taxable income to the city [Relation] cause [Effect] Barriers to entry are very low for hotels in major metropolitan areas",
    "gold": "[Cause] cities encourage economic development that revitalizes an area and brings tourism dollars and taxable income to the city [Relation] cause [Effect] Barriers to entry are very low for hotels in major metropolitan areas",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, given that most Pinterest users access the app with the intention of finding various products or ideas, which could result in high ad conversion rates for Pinterest and advertisers, monetization of pinners is likely to outpace user growth.",
    "output": "[Cause] most Pinterest users access the app with the intention of finding various products or ideas [Relation] cause [Effect] high ad conversion rates for Pinterest and advertisers",
    "gold": "[Cause] most Pinterest users access the app with the intention of finding various products or ideas [Relation] cause [Effect] high ad conversion rates for Pinterest and advertisers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With patient volumes across the globe starting to show signs of recovery and hospitals budgets slowly unfreezing, focus once again turns to daVinci and its continuing adoption across all areas of soft tissue surgery.",
    "output": "[Cause] patient volumes across the globe starting to show signs of recovery and hospitals budgets slowly unfreezing [Relation] cause [Effect] focus once again turns to daVinci and its continuing adoption across all areas of soft tissue surgery",
    "gold": "[Cause] patient volumes across the globe starting to show signs of recovery and hospitals budgets slowly unfreezing [Relation] cause [Effect] focus once again turns to daVinci and its continuing adoption across all areas of soft tissue surgery",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Regulators also help to control pricing in the market at times, such as on mortgage products, helping to reduce the potential for pricing wars to gain market share at the expense of underwriting standards.",
    "output": "[Cause] Regulators also help to control pricing in the market at times [Relation] enable [Effect] reduce the potential for pricing wars to gain market share at the expense of underwriting standards",
    "gold": "[Cause] Regulators also help to control pricing in the market at times [Relation] enable [Effect] reduce the potential for pricing wars to gain market share at the expense of underwriting standards",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With robust cloud infrastructure already in place, these firms could build and deliver similar multitenant security clouds, likely at a lower cost.",
    "output": "[Cause] robust cloud infrastructure already in place [Relation] enable [Effect] these firms could build and deliver similar multitenant security clouds, likely at a lower cost",
    "gold": "[Cause] With robust cloud infrastructure [Relation] enable [Effect]  these firms could build and deliver similar multitenant security clouds, likely at a lower cost",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, Nutrien is a risk for being negatively affected by the retail shift to an online marketplace, as new competitors can more easily set up shop and compete in multiple products.",
    "output": "[Cause] new competitors can more easily set up shop and compete in multiple products [Relation] cause [Effect] Nutrien is a risk for being negatively affected by the retail shift to an online marketplace",
    "gold": "[Cause]  new competitors can more easily set up shop and compete in multiple products [Relation] cause [Effect]  Nutrien is a risk for being negatively affected by the retail shift to an online marketplace",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "High transportation costs, predictable demand, staggered long-term contracts, and high capital costs lead to an industry that benefits from efficient scale.",
    "output": "[Cause] High transportation costs, predictable demand, staggered long-term contracts, and high capital costs [Relation] cause [Effect] an industry that benefits from efficient scale",
    "gold": "[Cause] High transportation costs, predictable demand, staggered long-term contracts, and high capital costs [Relation] cause [Effect] an industry that benefits from efficient scale",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For reference, as COVID-19 continues to wane, 52% of the fleet is expected to be deployed by November.",
    "output": "[Cause] COVID-19 continues to wane [Relation] cause [Effect] 52% of the fleet is expected to be deployed by November",
    "gold": "[Cause] COVID-19 continues to wane [Relation] cause [Effect] 52% of the fleet is expected to be deployed by November",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Growth in Facebook's average ad revenue per user indicates advertisers' willingness to pay more for Facebook-placed ads, as they expect high return on investment from the targeted ads.",
    "output": "[Cause] they expect high return on investment from the targeted ads [Relation] cause [Effect] advertisers' willingness to pay more for Facebook-placed ads",
    "gold": "[Cause]  they expect high return on investment from the targeted ads [Relation] cause [Effect]  advertisers' willingness to pay more for Facebook-placed ads",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Growth in public cloud-based workloads caused a decline in the on-premises ADC hardware required and shifted ADC demand to software-based solutions.",
    "output": "[Cause] Growth in public cloud-based workloads [Relation] cause [Effect] a decline in the on-premises ADC hardware required",
    "gold": "[Cause] Growth in public cloud-based workloads [Relation] cause [Effect] a decline in the on-premises ADC hardware required",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Growth in public cloud-based workloads caused a decline in the on-premises ADC hardware required and shifted ADC demand to software-based solutions.",
    "output": "[Cause] Growth in public cloud-based workloads [Relation] cause [Effect] shifted ADC demand to software-based solutions",
    "gold": "[Cause] Growth in public cloud-based workloads [Relation] cause [Effect] shifted ADC demand to software-based solutions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This highlighted Coty's lack of negotiating power over its retail customers, as penalties for not maintaining a certain level of service led to heightened promotional activity and further distribution headwinds.",
    "output": "[Cause] penalties for not maintaining a certain level of service led to heightened promotional activity and further distribution headwinds [Relation] cause [Effect] This highlighted Coty's lack of negotiating power over its retail customers",
    "gold": "[Cause]  penalties for not maintaining a certain level of service [Relation] cause [Effect]  heightened promotional activity and further distribution headwinds",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Yum's 2014 corporate restructuring--where operations outside China were consolidated at the KFC, Pizza Hut, and Taco Bell brand level--also helped sharpen the focus of the different brand management teams while driving intangible asset and cost advantage benefits.",
    "output": "[Cause] Yum's 2014 corporate restructuring [Relation] enable [Effect] sharpen the focus of the different brand management teams while driving intangible asset and cost advantage benefits",
    "gold": "[Cause] Yum's 2014 corporate restructuring [Relation] enable [Effect] sharpen the focus of the different brand management teams while driving intangible asset and cost advantage benefits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But the COVID-19 crisis marks a reversal on this front and shows how two seemingly uncorrelated risks (equity market movements and claims losses) can potentially become quickly and unexpectedly correlated.",
    "output": "[Cause] the COVID-19 crisis [Relation] cause [Effect] a reversal on this front and shows how two seemingly uncorrelated risks (equity market movements and claims losses) can potentially become quickly and unexpectedly correlated",
    "gold": "[Cause]  the COVID-19 crisis [Relation] cause [Effect] a reversal on this front and shows how two seemingly uncorrelated risks (equity market movements and claims losses) can potentially become quickly and unexpectedly correlated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "OptumHealth service providers allows the company to better manage the care of its members and incentivize use of lower cost-of-care sites, which can result in significantly lower costs relative to an acute hospital setting when its insurance and OptumHealth assets overlap.",
    "output": "[Cause] OptumHealth service providers [Relation] enable [Effect] the company to better manage the care of its members and incentivize use of lower cost-of-care sites",
    "gold": "[Cause] OptumHealth service providers [Relation] enable [Effect] the company to better manage the care of its members and incentivize use of lower cost-of-care sites",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "OptumHealth service providers allows the company to better manage the care of its members and incentivize use of lower cost-of-care sites, which can result in significantly lower costs relative to an acute hospital setting when its insurance and OptumHealth assets overlap.",
    "output": "[Cause] OptumHealth service providers [Relation] enable [Effect] significantly lower costs relative to an acute hospital setting when its insurance and OptumHealth assets overlap",
    "gold": "[Cause] the company to better manage the care of its members and incentivize use of lower cost-of-care sites [Relation] enable [Effect] significantly lower costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe this ability to reliably deliver product to store shelves during the current pandemic could buoy the company's previously impaired relationships with its retail partners.",
    "output": "[Cause] this ability to reliably deliver product to store shelves during the current pandemic [Relation] enable [Effect] buoy the company's previously impaired relationships with its retail partners",
    "gold": "[Cause] this ability to reliably deliver product to store shelves during the current pandemic [Relation] enable [Effect] buoy the company's previously impaired relationships with its retail partners",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The biggest issue for P&C insurers is climate change, as insurers typically cover weather-related losses, and climate change is likely to increase the frequency and severity of extreme weather events.",
    "output": "[Cause] insurers typically cover weather-related losses [Relation] cause [Effect] The biggest issue for P&C insurers is climate change",
    "gold": "[Cause] insurers typically cover weather-related losses [Relation] cause [Effect] The biggest issue for P&C insurers is climate change",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The biggest issue for P&C insurers is climate change, as insurers typically cover weather-related losses, and climate change is likely to increase the frequency and severity of extreme weather events.",
    "output": "[Cause] climate change [Relation] cause [Effect] increase the frequency and severity of extreme weather events",
    "gold": "[Cause] climate change [Relation] cause [Effect] increase the frequency and severity of extreme weather events",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Veeva has earned a strong reputation within life sciences and continues to develop new adjacencies to further entrench itself into the core operations of its customers.",
    "output": "[Cause] Veeva has earned a strong reputation within life sciences and continues to develop new adjacencies [Relation] enable [Effect] further entrench itself into the core operations of its customers",
    "gold": "[Cause] Veeva has earned a strong reputation within life sciences and continues to develop new adjacencies [Relation] cause [Effect]  further entrench itself into the core operations of its customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Revenue fell 1% in 2020 on fewer carloads, falling fuel surcharges, and mix, but core pricing was positive and top-line declines moderated in the second half.",
    "output": "[Cause] fewer carloads, falling fuel surcharges, and mix [Relation] cause [Effect] Revenue fell 1% in 2020",
    "gold": "[Cause] fewer carloads, falling fuel surcharges, and mix [Relation] cause [Effect] Revenue fell 1% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Analog and power semis tend to make up only a small portion of a product's bill of materials, so purchasing decisions tend to be based on performance rather than price, helping firms to retain pricing power.",
    "output": "[Cause] Analog and power semis tend to make up only a small portion of a product's bill of materials [Relation] cause [Effect] purchasing decisions tend to be based on performance rather than price",
    "gold": "[Cause] Analog and power semis tend to make up only a small portion of a product's bill of materials [Relation] cause [Effect] purchasing decisions tend to be based on performance rather than price",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe HD Supply's product selection and availability, combined with its value-added services, offer customers unmatched convenience and support, which helps strengthen existing customer relationships and win new business.",
    "output": "[Cause] HD Supply's product selection and availability, combined with its value-added services, offer customers unmatched convenience and support [Relation] enable [Effect] helps strengthen existing customer relationships and win new business",
    "gold": "[Cause]  HD Supply's product selection and availability, combined with its value-added services, offer customers unmatched convenience and support [Relation] enable [Effect] helps strengthen existing customer relationships and win new business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "First, because carriers own and are responsible for the equipment they deploy at and on the towers, they bear the brunt of removing it when they leave the towers.",
    "output": "[Cause] carriers own and are responsible for the equipment they deploy at and on the towers [Relation] cause [Effect] they bear the brunt of removing it when they leave the towers",
    "gold": "[Cause] carriers own and are responsible for the equipment they deploy at and on the towers [Relation] cause [Effect]  they bear the brunt of removing it when they leave the towers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Third, Cheniere Energy only receives part of the cash flows generated by Sabine Pass LNG terminals, given its ownership stake in Cheniere Partners, whereas it receives 100% of any cash flows generated from Corpus Christi terminals. This dynamic is why the Corpus Christi Train 3 earned a final investment decision before Sabine Pass Train 6, at the expense of Cheniere Partners unitholders.",
    "output": "[Cause] Cheniere Energy only receives part of the cash flows generated by Sabine Pass LNG terminals, given its ownership stake in Cheniere Partners, whereas it receives 100% of any cash flows generated from Corpus Christi terminals [Relation] cause [Effect] the Corpus Christi Train 3 earned a final investment decision before Sabine Pass Train 6, at the expense of Cheniere Partners unitholders",
    "gold": "[Cause] Cheniere Energy only receives part of the cash flows generated by Sabine Pass LNG terminals, given its ownership stake in Cheniere Partners, whereas it receives 100% of any cash flows generated from Corpus Christi terminals [Relation] cause [Effect]  the Corpus Christi Train 3 earned a final investment decision before Sabine Pass Train 6, at the expense of Cheniere Partners unitholders",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, the company's rebranding of Managers Investment Group as AMG Funds not only enhanced AMG Funds' identity but helped strengthen the positioning of both AMG Funds and AMG's affiliates in the U.S.",
    "output": "[Cause] the company's rebranding of Managers Investment Group as AMG Funds [Relation] enable [Effect] enhanced AMG Funds' identity but helped strengthen the positioning of both AMG Funds and AMG's affiliates in the U.S",
    "gold": "[Cause] the company's rebranding of Managers Investment Group as AMG Funds [Relation] enable [Effect] enhanced AMG Funds' identity but helped strengthen the positioning of both AMG Funds and AMG's affiliates in the U.S",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This has facilitated the shift of sales to various digital platforms (more than 84% of sales were digital in 2020) and enabled the company to collect a vast amount of consumer data.",
    "output": "[Cause] This [Relation] enable [Effect] the shift of sales to various digital platforms",
    "gold": "[Cause] This [Relation] enable [Effect] the shift of sales to various digital platforms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This has facilitated the shift of sales to various digital platforms (more than 84% of sales were digital in 2020) and enabled the company to collect a vast amount of consumer data.",
    "output": "[Cause] This [Relation] enable [Effect] the shift of sales to various digital platforms",
    "gold": "[Cause] This [Relation] enable [Effect] the company to collect a vast amount of consumer data",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Historically, Scotts has generated healthy margins on its products through effective branding that allows it to maintain favorable product positioning and shelf space in the largest mass-market and home improvement retailers.",
    "output": "[Cause] effective branding [Relation] enable [Effect] maintain favorable product positioning and shelf space in the largest mass-market and home improvement retailers",
    "gold": "[Cause] effective branding [Relation] enable [Effect] maintain favorable product positioning and shelf space in the largest mass-market and home improvement retailers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Historically, Scotts has generated healthy margins on its products through effective branding that allows it to maintain favorable product positioning and shelf space in the largest mass-market and home improvement retailers.",
    "output": "[Cause] effective branding [Relation] enable [Effect] maintain favorable product positioning and shelf space in the largest mass-market and home improvement retailers",
    "gold": "[Cause] effective branding [Relation] enable [Effect] Scotts has generated healthy margins on its products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Cloud's scalable nature adds value for businesses as they can avoid onerous up-front costs both in relation to time and money.",
    "output": "[Cause] they can avoid onerous up-front costs both in relation to time and money [Relation] cause [Effect] Cloud's scalable nature adds value for businesses",
    "gold": "[Cause] they can avoid onerous up-front costs both in relation to time and money [Relation] cause [Effect] Cloud's scalable nature adds value for businesses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The decision to merge the television business into a single unit was smart, in our view, as it should allow NBCU to make better content decisions and place programming on whichever platform--broadcast, cable, or the new Peacock service--will deliver the best returns.",
    "output": "[Cause] it should allow NBCU to make better content decisions and place programming on whichever platform--broadcast, cable, or the new Peacock service--will deliver the best returns [Relation] cause [Effect] The decision to merge the television business into a single unit was smart",
    "gold": "[Cause] it should allow NBCU to make better content decisions and place programming on whichever platform--broadcast, cable, or the new Peacock service--will deliver the best returns [Relation] enable [Effect] The decision to merge the television business into a single unit was smart",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are lifting our fair value estimate per share to $23.50 from $22 after lifting our full-year 2021 sales outlook from $8.0 billion to closer to the firm's updated guidance of $8.2 billion-$8.4 billion.",
    "output": "[Cause] lifting our full-year 2021 sales outlook from $8.0 billion to closer to the firm's updated guidance of $8.2 billion-$8.4 billion [Relation] cause [Effect] lifting our fair value estimate per share to $23.50 from $22",
    "gold": "[Cause]  lifting our full-year 2021 sales outlook from $8.0 billion to closer to the firm's updated guidance of $8.2 billion-$8.4 billion [Relation] cause [Effect]  lifting our fair value estimate per share to $23.50 from $22",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Coach has pricing power in many categories because of its status as a premier American leather goods brand.",
    "output": "[Cause] its status as a premier American leather goods brand [Relation] cause [Effect] Coach has pricing power in many categories",
    "gold": "[Cause] its status as a premier American leather goods brand [Relation] cause [Effect] Coach has pricing power in many categories",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition to the firm's dominance in global prestige beauty, Estee also adds value to its retail partners by periodically launching new products exclusively with a specific retailer, in order to drive excitement and traffic for the retailer and the brand.",
    "output": "[Cause] periodically launching new products exclusively with a specific retailer [Relation] enable [Effect] drive excitement and traffic for the retailer and the brand",
    "gold": "[Cause] periodically launching new products exclusively with a specific retailer [Relation] enable [Effect] drive excitement and traffic for the retailer and the brand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition to the firm's dominance in global prestige beauty, Estee also adds value to its retail partners by periodically launching new products exclusively with a specific retailer, in order to drive excitement and traffic for the retailer and the brand.",
    "output": "[Cause] periodically launching new products exclusively with a specific retailer [Relation] enable [Effect] drive excitement and traffic for the retailer and the brand",
    "gold": "[Cause] drive excitement and traffic for the retailer and the brand [Relation] cause [Effect] Estee also adds value to its retail partners",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While there is a wide variety of competitive products, Adobe Creative Cloud is so pervasive within the creative world and the educational system that replacing it would be an insurmountable barrier, in our view.",
    "output": "[Cause] Adobe Creative Cloud is so pervasive within the creative world and the educational system [Relation] cause [Effect] replacing it would be an insurmountable barrier",
    "gold": "[Cause] Adobe Creative Cloud is so pervasive within the creative world and the educational system [Relation] cause [Effect] replacing it would be an insurmountable barrier",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The restaurant industry is subject to intense competition, minimal switching costs, and changing consumer preferences, contributing to execution risk for the operators in our coverage.",
    "output": "[Cause] The restaurant industry is subject to intense competition, minimal switching costs, and changing consumer preferences [Relation] cause [Effect] execution risk for the operators in our coverage",
    "gold": "[Cause] The restaurant industry is subject to intense competition, minimal switching costs, and changing consumer preferences [Relation] cause [Effect] execution risk for the operators in our coverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Still, the margin delivery should be slightly tempered by ongoing investments in technology and service competencies (payment platforms, etc.), as well as higher marketing investments to increase household penetration of coolers.",
    "output": "[Cause] ongoing investments in technology and service competencies (payment platforms, etc.) [Relation] cause [Effect] the margin delivery should be slightly tempered",
    "gold": "[Cause] increase household penetration of coolers [Relation] enable [Effect] higher marketing investments",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Still, the margin delivery should be slightly tempered by ongoing investments in technology and service competencies (payment platforms, etc.), as well as higher marketing investments to increase household penetration of coolers.",
    "output": "[Cause] higher marketing investments [Relation] enable [Effect] increase household penetration of coolers",
    "gold": "[Cause] ongoing investments in technology and service competencies (payment platforms, etc.) [Relation] cause [Effect] the margin delivery should be slightly tempered",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, several factors can cause this balance to be disrupted, such as flock disease, weather, export conditions, and regulation, which can cause significant swings in the refrigerated food segment's margins.",
    "output": "[Cause] flock disease, weather, export conditions, and regulation [Relation] cause [Effect] significant swings in the refrigerated food segment's margins",
    "gold": "[Cause] flock disease, weather, export conditions, and regulation [Relation] cause [Effect] significant swings in the refrigerated food segment's margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Data centers are increasingly using all-flash arrays because of their performance, capacity per size, and lower power consumption over mature storage solutions.",
    "output": "[Cause] their performance, capacity per size, and lower power consumption over mature storage solutions [Relation] cause [Effect] Data centers are increasingly using all-flash arrays",
    "gold": "[Cause]  their performance, capacity per size, and lower power consumption over mature storage solutions [Relation] cause [Effect] Data centers are increasingly using all-flash arrays",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In particular, we view Alibaba's controlling stake in Southeast Asia e-commerce platform Lazada as a positive for its international expansion aspirations.",
    "output": "[Cause] Alibaba's controlling stake in Southeast Asia e-commerce platform Lazada [Relation] enable [Effect] a positive for its international expansion aspirations",
    "gold": "[Cause] a positive for its international expansion aspirations [Relation] cause [Effect] Alibaba's controlling stake in Southeast Asia e-commerce platform Lazada",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the firm achieves solid operating margins in Asia-Pacific (we estimate them at just under 20% in the long term), competitors' operating margins are even higher (generally greater than 30% for both Nike and Adidas) because they have much greater brand recognition, pricing, distribution, and marketing.",
    "output": "[Cause] they have much greater brand recognition, pricing, distribution, and marketing [Relation] cause [Effect] competitors' operating margins are even higher",
    "gold": "[Cause]  they have much greater brand recognition, pricing, distribution, and marketing [Relation] cause [Effect]  competitors' operating margins are even higher",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A carefully curated database offers valuable IP, with teams of accounting experts integrating timely editorial news and regulatory changes with an AI-enabled search product, Checkpoint Edge, that allows generalist corporate tax officers to effectively handle a complex legal and regulatory environment across jurisdictions.",
    "output": "[Cause] A carefully curated database offers valuable IP, with teams of accounting experts integrating timely editorial news and regulatory changes with an AI-enabled search product, Checkpoint Edge [Relation] enable [Effect] generalist corporate tax officers to effectively handle a complex legal and regulatory environment across jurisdictions",
    "gold": "[Cause] A carefully curated database offers valuable IP, with teams of accounting experts integrating timely editorial news and regulatory changes with an AI-enabled search product, Checkpoint Edge [Relation] enable [Effect] generalist corporate tax officers to effectively handle a complex legal and regulatory environment across jurisdictions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the segment's focus on 5G and cloud-based products should drive more value for CSPs and potentially create solutions for enterprises that will utilize Internet of Things devices on their networks.",
    "output": "[Cause] the segment's focus on 5G and cloud-based products [Relation] enable [Effect] drive more value for CSPs and potentially create solutions for enterprises that will utilize Internet of Things devices on their networks",
    "gold": "[Cause]  the segment's focus on 5G and cloud-based products [Relation] enable [Effect] drive more value for CSPs and potentially create solutions for enterprises that will utilize Internet of Things devices on their networks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also believe the Telefonica acquisition, coupled with the 2018 acquisition of Cable Onda in Panama, improves Millicom's position, as the firm will own fixed-line and wireless operations in every country in which it operates.",
    "output": "[Cause] the Telefonica acquisition, coupled with the 2018 acquisition of Cable Onda in Panama [Relation] enable [Effect] improves Millicom's position",
    "gold": "[Cause] the firm will own fixed-line and wireless operations in every country in which it operates [Relation] cause [Effect] improves Millicom's position",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also believe the Telefonica acquisition, coupled with the 2018 acquisition of Cable Onda in Panama, improves Millicom's position, as the firm will own fixed-line and wireless operations in every country in which it operates.",
    "output": "[Cause] the firm will own fixed-line and wireless operations in every country in which it operates [Relation] cause [Effect] improves Millicom's position",
    "gold": "[Cause]  the Telefonica acquisition, coupled with the 2018 acquisition of Cable Onda in Panama [Relation] enable [Effect] improves Millicom's position",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Many life insurance companies also significantly ''''''''de-risked'''''''' after the global financial crisis and became more conservative with their guaranteed benefit contracts, so we expect Ameriprise to navigate through the near-term economic environment well.",
    "output": "[Cause] Many life insurance companies also significantly ''''''''''''de-risked''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''",
    "gold": "[Cause] Many life insurance companies also significantly ''''''''de-risked'''''''' after the global financial crisis and became more conservative with their guaranteed benefit contracts [Relation] cause [Effect] we expect Ameriprise to navigate through the near-term economic environment well",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In energy, we think the improvement in the price of oil since COVID-19 lows will incentivize exploration and production companies to increase oil and gas capital expenditures, leading to increased sales of Caterpillar's oil well-serving products.",
    "output": "[Cause] the improvement in the price of oil since COVID-19 lows [Relation] enable [Effect] incentivize exploration and production companies to increase oil and gas capital expenditures, leading to increased sales of Caterpillar's oil well-serving products",
    "gold": "[Cause] the improvement in the price of oil since COVID-19 lows [Relation] cause [Effect]  incentivize exploration and production companies to increase oil and gas capital expenditures, leading to increased sales of Caterpillar's oil well-serving products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Climate change introduces a new point of uncertainty for insurers with catastrophe exposure, and future returns could be impaired if the price response is not adequate.",
    "output": "[Cause] Climate change [Relation] cause [Effect] a new point of uncertainty for insurers with catastrophe exposure",
    "gold": "[Cause] Climate change [Relation] cause [Effect] a new point of uncertainty for insurers with catastrophe exposure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Climate change introduces a new point of uncertainty for insurers with catastrophe exposure, and future returns could be impaired if the price response is not adequate.",
    "output": "[Cause] Climate change [Relation] cause [Effect] future returns could be impaired",
    "gold": "[Cause] the price response is not adequate [Relation] prevent [Effect] future returns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Due to its global operations, Thomson Reuters is subject to economic, political, and social risks in the countries it operates.",
    "output": "[Cause] its global operations [Relation] cause [Effect] Thomson Reuters is subject to economic, political, and social risks in the countries it operates",
    "gold": "[Cause] its global operations [Relation] enable [Effect] Thomson Reuters is subject to economic, political, and social risks in the countries it operates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The bankruptcy of a retailer is not a total loss for Synchrony, as cardholders remain responsible for their debt, but credit card programs from shuttered retailers have typically seen higher charge-offs and falling levels of receivables.",
    "output": "[Cause] cardholders remain responsible for their debt [Relation] cause [Effect] The bankruptcy of a retailer is not a total loss for Synchrony",
    "gold": "[Cause] cardholders remain responsible for their debt [Relation] cause [Effect] The bankruptcy of a retailer is not a total loss for Synchrony",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The salt brines in the Salar de Atacama are the lowest-cost source of lithium globally because of the high concentrations of lithium.",
    "output": "[Cause] the high concentrations of lithium [Relation] cause [Effect] The salt brines in the Salar de Atacama are the lowest-cost source of lithium globally",
    "gold": "[Cause]  the high concentrations of lithium [Relation] cause [Effect] The salt brines in the Salar de Atacama are the lowest-cost source of lithium globally",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "An additional ESG risk is the potential that regulatory disclosures result in competitors figuring out Sensient's specialty natural ingredient formulations, reducing the company's competitive advantage.",
    "output": "[Cause] competitors figuring out Sensient's specialty natural ingredient formulations [Relation] cause [Effect] reducing the company's competitive advantage",
    "gold": "[Cause] competitors figuring out Sensient's specialty natural ingredient formulations [Relation] cause [Effect] reducing the company's competitive advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In contrast, we expect volume for equity futures to remain strong in 2021 but to experience double-digit declines in the following years as retail interest in equity markets wanes.",
    "output": "[Cause] retail interest in equity markets wanes [Relation] cause [Effect] volume for equity futures to remain strong in 2021 but to experience double-digit declines in the following years",
    "gold": "[Cause] retail interest in equity markets wanes [Relation] cause [Effect] volume for equity futures to remain strong in 2021 but to experience double-digit declines in the following years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Economies of scale can boost returns as the retail business grows, but we don't think this is a sustainable source of competitive advantage.",
    "output": "[Cause] the retail business grows [Relation] cause [Effect] Economies of scale can boost returns",
    "gold": "[Cause] the retail business grows [Relation] cause [Effect] Economies of scale can boost returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We model a compound annual growth rate (CAGR) of 8% over the next five years driven by a transition to cloud delivery and accelerating revenue coming out of 2020 that culminates in sustainable double-digit revenue growth.",
    "output": "[Cause] a transition to cloud delivery and accelerating revenue coming out of 2020 [Relation] cause [Effect] a compound annual growth rate (CAGR) of 8% over the next five years",
    "gold": "[Cause] a transition to cloud delivery and accelerating revenue coming out of 2020 [Relation] enable [Effect] a compound annual growth rate (CAGR) of 8% over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the short run, we estimate a full-year shutdown would reduce equity earnings by about $200 million, or 12%, of our 2021 EBITDA estimate.",
    "output": "[Cause] a full-year shutdown [Relation] cause [Effect] reduce equity earnings by about $200 million, or 12%, of our 2021 EBITDA estimate",
    "gold": "[Cause] a full-year shutdown [Relation] cause [Effect] reduce equity earnings by about $200 million, or 12%, of our 2021 EBITDA estimate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Margins dipped to 13% in 2019 and 2020, but in the medium term, we anticipate healthy operating leverage to bring operating margins to 15% in 2021 (within management's target of 15%-17%) and as high as 19% by 2025.",
    "output": "[Cause] healthy operating leverage [Relation] enable [Effect] bring operating margins to 15% in 2021 (within management's target of 15%-17%) and as high as 19% by 2025",
    "gold": "[Cause]  healthy operating leverage [Relation] enable [Effect]  bring operating margins to 15% in 2021 (within management's target of 15%-17%) and as high as 19% by 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Beyond boosting profits, we think these savings will fuel its product innovation and advertising to ensure its offerings stay top-of-mind with consumers and retailers.",
    "output": "[Cause] these savings [Relation] enable [Effect] ensure its offerings stay top-of-mind with consumers and retailers",
    "gold": "[Cause] savings will fuel its product innovation and advertising [Relation] enable [Effect]  ensure its offerings stay top-of-mind with consumers and retailers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because we anticipate Moody's will continue its growth trajectory, we believe it will be able to expand margins through operating leverage.",
    "output": "[Cause] Moody's will continue its growth trajectory [Relation] cause [Effect] expand margins through operating leverage",
    "gold": "[Cause] Moody's will continue its growth trajectory [Relation] cause [Effect]  it will be able to expand margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Oi, the smallest carrier with about 16% share, has been in bankruptcy reorganization since 2016, a position that has hindered its ability to invest in its wireless and fixed-line networks.",
    "output": "[Cause] Oi, the smallest carrier with about 16% share, has been in bankruptcy reorganization since 2016 [Relation] prevent [Effect] its ability to invest in its wireless and fixed-line networks",
    "gold": "[Cause] Oi, the smallest carrier with about 16% share, has been in bankruptcy reorganization since 2016 [Relation] prevent [Effect] its ability to invest in its wireless and fixed-line networks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The acquisition of Core-Mark, another c-store distributor, in late fiscal 2022 will further depress gross margins, to 10% in fiscal 2023 and beyond.",
    "output": "[Cause] The acquisition of Core-Mark, another c-store distributor, in late fiscal 2022 [Relation] cause [Effect] further depress gross margins, to 10% in fiscal 2023 and beyond",
    "gold": "[Cause] The acquisition of Core-Mark, another c-store distributor, in late fiscal 2022 [Relation] cause [Effect] further depress gross margins, to 10% in fiscal 2023 and beyond",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The Acceleride omnichannel platform should keep the firm competitive with new entrants to the online market such as Carvana, and we think digital will enable much better SG&A leverage than the company has had in the past.",
    "output": "[Cause] The Acceleride omnichannel platform [Relation] enable [Effect] keep the firm competitive with new entrants to the online market such as Carvana",
    "gold": "[Cause] The Acceleride omnichannel platform [Relation] enable [Effect] keep the firm competitive with new entrants to the online market such as Carvana",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the firm's products are distributed across a vast network of natural foods supermarkets, independent natural retailers, and specialty stores, a significant portion of its revenue is sold through brokers and distributors.",
    "output": "[Cause] the firm's products are distributed across a vast network of natural foods supermarkets, independent natural retailers, and specialty stores [Relation] cause [Effect] a significant portion of its revenue is sold through brokers and distributors",
    "gold": "[Cause] the firm's products are distributed across a vast network of natural foods supermarkets, independent natural retailers, and specialty stores [Relation] cause [Effect] a significant portion of its revenue is sold through brokers and distributors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Intermodal saw first-half 2020 volume headwinds from COVID-19 disruption and depressed rates in the competing truckload industry but has since rebounded dramatically on robust retailer restocking and tight truckload market capacity (rising truck-to-rail conversions), and we still see it as a key long-term growth opportunity for CSX.",
    "output": "[Cause] robust retailer restocking and tight truckload market capacity (rising truck-to-rail conversions) [Relation] enable [Effect] rebounded dramatically",
    "gold": "[Cause] since rebounded dramatically [Relation] cause [Effect] robust retailer restocking and tight truckload market capacity (rising truck-to-rail conversions)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Online travel agencies and online hotel reviews create immediate price discovery for consumers, preventing Host from pushing rate increases even though it is nearing full occupancy on many nights.",
    "output": "[Cause] Online travel agencies and online hotel reviews [Relation] cause [Effect] immediate price discovery for consumers",
    "gold": "[Cause] Online travel agencies and online hotel reviews [Relation] enable [Effect] immediate price discovery for consumers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, Sensata's ability to grow its dollar content in vehicles demonstrates intangible assets in sensor design, as it works closely with OEMs and Tier 1 suppliers to build its products into new sockets.",
    "output": "[Cause] it works closely with OEMs and Tier 1 suppliers to build its products into new sockets [Relation] cause [Effect] Sensata's ability to grow its dollar content in vehicles demonstrates intangible assets in sensor design",
    "gold": "[Cause] it works closely with OEMs and Tier 1 suppliers to build its products into new sockets [Relation] cause [Effect] Sensata's ability to grow its dollar content in vehicles demonstrates intangible assets in sensor design",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe it will use its cost advantage to boost sales through its ability to offer a wide variety of parts on short order, building inventory and cost leverage as sales rise while fortifying brand value in a way subscale peers cannot economically replicate.",
    "output": "[Cause] its ability to offer a wide variety of parts on short order [Relation] enable [Effect] boost sales",
    "gold": "[Cause] its ability to offer a wide variety of parts on short order [Relation] enable [Effect] boost sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe it will use its cost advantage to boost sales through its ability to offer a wide variety of parts on short order, building inventory and cost leverage as sales rise while fortifying brand value in a way subscale peers cannot economically replicate.",
    "output": "[Cause] its ability to offer a wide variety of parts on short order [Relation] enable [Effect] building inventory and cost leverage",
    "gold": "[Cause] subscale peers cannot economically replicate [Relation] enable [Effect] fortifying brand value",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe it will use its cost advantage to boost sales through its ability to offer a wide variety of parts on short order, building inventory and cost leverage as sales rise while fortifying brand value in a way subscale peers cannot economically replicate.",
    "output": "[Cause] its ability to offer a wide variety of parts on short order [Relation] enable [Effect] building inventory and cost leverage",
    "gold": "[Cause]  sales rise [Relation] enable [Effect] building inventory and cost leverage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Komatsu offers attractive financing services, with down payments as low as zero to 20%, which can alleviate customers' financial burdens and help smooth the impact of the credit cycle and industry downturns.",
    "output": "[Cause] Komatsu offers attractive financing services, with down payments as low as zero to 20% [Relation] enable [Effect] alleviate customers' financial burdens and help smooth the impact of the credit cycle and industry downturns",
    "gold": "[Cause] Komatsu offers attractive financing services, with down payments as low as zero to 20% [Relation] enable [Effect] alleviate customers' financial burdens and help smooth the impact of the credit cycle and industry downturns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moderna gained access to valuable patents from the University of Pennsylvania covering modified mRNA technology through a nonexclusive license (via mRNA RiboTherapeutics and its affiliate, Cellscript), so other firms could also license the fundamental technology allowing mRNA to function as a therapeutic.",
    "output": "[Cause] Moderna gained access to valuable patents from the University of Pennsylvania covering modified mRNA technology through a nonexclusive license (via mRNA RiboTherapeutics and its affiliate, Cellscript) [Relation] cause [Effect] other firms could also license the fundamental technology allowing mRNA to function as a therapeutic",
    "gold": "[Cause] a nonexclusive license (via mRNA RiboTherapeutics and its affiliate, Cellscript) [Relation] cause [Effect] Moderna gained access to valuable patents from the University of Pennsylvania",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These close relationships are an advantage as Crane Currency often collaborates with central banks and is involved in early stages of designing a new banknote series, which then leads to repeat business as a banknote series lifecycle can last over 10 years.",
    "output": "[Cause] a banknote series lifecycle can last over 10 years [Relation] cause [Effect] repeat business",
    "gold": "[Cause] These close relationships are an advantage as Crane Currency often collaborates with central banks and is involved in early stages of designing a new banknote series [Relation] cause [Effect] leads to repeat business as a banknote series lifecycle can last over 10 years.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We assume higher investment in research and development as a percentage of gross revenue, as we see Criteo having to consistently design, test, and implement new methods to gain access to user behavior data on the Safari browser, and Chrome.",
    "output": "[Cause] Criteo having to consistently design, test, and implement new methods to gain access to user behavior data on the Safari browser, and Chrome [Relation] cause [Effect] higher investment in research and development as a percentage of gross revenue",
    "gold": "[Cause] Criteo having to consistently design, test, and implement new methods to gain access to user behavior data on the Safari browser, and Chrome [Relation] cause [Effect] higher investment in research and development as a percentage of gross revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "An individual ship takes years to build and the military purchases ships in several-unit blocks, so a single block purchase can provide over a decade of revenue for a given product.",
    "output": "[Cause] An individual ship takes years to build and the military purchases ships in several-unit blocks [Relation] cause [Effect] a single block purchase can provide over a decade of revenue for a given product",
    "gold": "[Cause] An individual ship takes years to build and the military purchases ships in several-unit blocks [Relation] cause [Effect] a single block purchase can provide over a decade of revenue for a given product",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the economic impact of COVID-19 will likely reduce annual increases to only 1% to 3% over the next five years.",
    "output": "[Cause] the economic impact of COVID-19 [Relation] cause [Effect] reduce annual increases to only 1% to 3% over the next five years",
    "gold": "[Cause] the economic impact of COVID-19 [Relation] cause [Effect] reduce annual increases to only 1% to 3% over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2010, TCCC had to buy back a substantial majority of its North American territories, as its distribution system performed poorly due in large part to an outdated concentrate pricing model.",
    "output": "[Cause] an outdated concentrate pricing model [Relation] cause [Effect] its distribution system performed poorly",
    "gold": "[Cause]  its distribution system performed poorly [Relation] cause [Effect] TCCC had to buy back a substantial majority of its North American territories",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In 2010, TCCC had to buy back a substantial majority of its North American territories, as its distribution system performed poorly due in large part to an outdated concentrate pricing model.",
    "output": "[Cause] its distribution system performed poorly [Relation] cause [Effect] TCCC had to buy back a substantial majority of its North American territories",
    "gold": "[Cause] large part to an outdated concentrate pricing model [Relation] cause [Effect]  its distribution system performed poorly",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Its ability to raise core prices on acquired volume (thanks to its vast ownership of landfills, a preferred asset) should remain a key organic growth driver.",
    "output": "[Cause] its vast ownership of landfills, a preferred asset [Relation] enable [Effect] Its ability to raise core prices on acquired volume",
    "gold": "[Cause] its vast ownership of landfills, a preferred asset [Relation] enable [Effect] Its ability to raise core prices on acquired volume",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect revenue growth for Universal Music Group will average 13% over the next five years as increased streaming sales offset the ongoing decline in digital media sales and most of the live-music related revenue lost in 2020 due to COVID-19 comes back by 2022.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] most of the live-music related revenue lost in 2020",
    "gold": "[Cause]  increased streaming sales offset the ongoing decline in digital media sales | most of the live-music related revenue lost in 2020 due to COVID-19 comes back by 2022 [Relation] enable [Effect] revenue growth for Universal Music Group will average 13% over the next five years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We're bumping up our fair value estimate for Hershey to $139, from $134, driven by slightly more favorable near-term prospects and additional cash generated since our last update.",
    "output": "[Cause] slightly more favorable near-term prospects and additional cash generated since our last update [Relation] cause [Effect] bumping up our fair value estimate for Hershey to $139, from $134",
    "gold": "[Cause] slightly more favorable near-term prospects and additional cash generated since our last update [Relation] enable [Effect]  bumping up our fair value estimate for Hershey to $139, from $134",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Airbnb's revenue take rate to expand toward 14% in 2030 from 12.7% in 2019 (2020's 14.1% level had one-time timing benefits), aided by expanded experiences, insurance, and promoted listing offerings.",
    "output": "[Cause] expanded experiences, insurance, and promoted listing offerings [Relation] enable [Effect] Airbnb's revenue take rate to expand toward 14% in 2030 from 12.7% in 2019 (2020's 14.1% level had one-time timing benefits)",
    "gold": "[Cause] expanded experiences, insurance, and promoted listing offerings [Relation] enable [Effect] Airbnb's revenue take rate to expand toward 14% in 2030 from 12.7% in 2019 (2020's 14.1% level had one-time timing benefits)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Southwest is partially protected from oil price increases, we think that an oil price spike would dramatically challenge the company and the industry as a whole.",
    "output": "[Cause] an oil price spike [Relation] cause [Effect] dramatically challenge the company and the industry as a whole",
    "gold": "[Cause] an oil price spike [Relation] enable [Effect] dramatically challenge the company and the industry as a whole",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe other storage and flash players will increasingly pursue similar levels of vertical integration to differentiate their products and provide an edge in the highly commoditized flash chip technology market.",
    "output": "[Cause] other storage and flash players will increasingly pursue similar levels of vertical integration [Relation] enable [Effect] differentiate their products and provide an edge in the highly commoditized flash chip technology market",
    "gold": "[Cause]  other storage and flash players will increasingly pursue similar levels of vertical integration [Relation] enable [Effect] differentiate their products and provide an edge in the highly commoditized flash chip technology market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Net interest income tends to do better with higher interest rates and a steeper yield curve, but COVID-19 brought lower rates and a flatter yield curve.",
    "output": "[Cause] higher interest rates and a steeper yield curve [Relation] enable [Effect] Net interest income tends to do better",
    "gold": "[Cause] higher interest rates and a steeper yield curve [Relation] enable [Effect] Net interest income tends to do better",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Net interest income tends to do better with higher interest rates and a steeper yield curve, but COVID-19 brought lower rates and a flatter yield curve.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] lower rates and a flatter yield curve",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] lower rates and a flatter yield curve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Weak macroeconomics, a pandemic like COVID-19, and consumer sentiment can adversely affect Tencent's revenue and profitability, especially in the advertising businesses.",
    "output": "[Cause] Weak macroeconomics, a pandemic like COVID-19, and consumer sentiment [Relation] cause [Effect] adversely affect Tencent's revenue and profitability, especially in the advertising businesses",
    "gold": "[Cause] Weak macroeconomics, a pandemic like COVID-19, and consumer sentiment [Relation] cause [Effect] adversely affect Tencent's revenue and profitability, especially in the advertising businesses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The deceleration of pharmaceutical drug growth due to the slower branded drug inflation, shifting mix favoring generic drugs with lower price points, slower introduction of blockbuster drugs, and increasing provider negotiating leverage (and customer concentration) have put operating margins under pressure.",
    "output": "[Cause] the slower branded drug inflation, shifting mix favoring generic drugs with lower price points, slower introduction of blockbuster drugs, and increasing provider negotiating leverage (and customer concentration) [Relation] cause [Effect] The deceleration of pharmaceutical drug growth",
    "gold": "[Cause] The deceleration of pharmaceutical drug growth due to the slower branded drug inflation, shifting mix favoring generic drugs with lower price points, slower introduction of blockbuster drugs, and increasing provider negotiating leverage [Relation] prevent [Effect] operating margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The deceleration of pharmaceutical drug growth due to the slower branded drug inflation, shifting mix favoring generic drugs with lower price points, slower introduction of blockbuster drugs, and increasing provider negotiating leverage (and customer concentration) have put operating margins under pressure.",
    "output": "[Cause] The deceleration of pharmaceutical drug growth [Relation] cause [Effect] put operating margins under pressure",
    "gold": "[Cause] the slower branded drug inflation, shifting mix favoring generic drugs with lower price points, slower introduction of blockbuster drugs, and increasing provider negotiating leverage [Relation] prevent [Effect] pharmaceutical drug growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With Autodesk software considered the industry standard for many of its solutions, universities are convinced to continue teaching the software in its programs, which drives AEC, manufacturing, and M&E firms to continue using it, causing universities to continue teaching it.",
    "output": "[Cause] Autodesk software considered the industry standard for many of its solutions [Relation] cause [Effect] universities are convinced to continue teaching the software in its programs",
    "gold": "[Cause] Autodesk software considered the industry standard for many of its solutions [Relation] enable [Effect] universities are convinced to continue teaching the software in its programs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With Autodesk software considered the industry standard for many of its solutions, universities are convinced to continue teaching the software in its programs, which drives AEC, manufacturing, and M&E firms to continue using it, causing universities to continue teaching it.",
    "output": "[Cause] universities are convinced to continue teaching the software in its programs [Relation] cause [Effect] AEC, manufacturing, and M&E firms to continue using it, causing universities to continue teaching it",
    "gold": "[Cause] AEC, manufacturing, and M&E firms to continue using it [Relation] enable [Effect]  universities to continue teaching it",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With Autodesk software considered the industry standard for many of its solutions, universities are convinced to continue teaching the software in its programs, which drives AEC, manufacturing, and M&E firms to continue using it, causing universities to continue teaching it.",
    "output": "[Cause] universities are convinced to continue teaching the software in its programs [Relation] cause [Effect] AEC, manufacturing, and M&E firms to continue using it",
    "gold": "[Cause] universities are convinced to continue teaching the software in its programs [Relation] enable [Effect] AEC, manufacturing, and M&E firms to continue using it",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The recovery following the Great Financial Crisis was fueled by increased commodity demand, leading mining companies to increase production to meet demand from emerging markets.",
    "output": "[Cause] The recovery following the Great Financial Crisis [Relation] cause [Effect] increased commodity demand",
    "gold": "[Cause] The recovery following the Great Financial Crisis was fueled by increased commodity demand [Relation] cause [Effect] mining companies to increase production to meet demand from emerging markets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The recovery following the Great Financial Crisis was fueled by increased commodity demand, leading mining companies to increase production to meet demand from emerging markets.",
    "output": "[Cause] mining companies to increase production [Relation] enable [Effect] meet demand from emerging markets",
    "gold": "[Cause] mining companies to increase production [Relation] enable [Effect] meet demand from emerging markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the past decade, increasingly stringent environmental regulations have forced diesel engine makers to add complex exhaust aftertreatment systems not required in gasoline engines.",
    "output": "[Cause] increasingly stringent environmental regulations [Relation] cause [Effect] diesel engine makers to add complex exhaust aftertreatment systems not required in gasoline engines",
    "gold": "[Cause] increasingly stringent environmental regulations [Relation] cause [Effect] diesel engine makers to add complex exhaust aftertreatment systems not required in gasoline engines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are raising our valuation of O'Reilly to $410 per share from $378, reflecting stellar third-quarter sales results (17% comparable growth) that led us to lift our 2020 marks (to 11% comparable growth from 7%).",
    "output": "[Cause] We are raising our valuation of O'Reilly to $410 per share from $378 [Relation] cause [Effect] we lifted our 2020 marks (to 11% comparable growth from 7%)",
    "gold": "[Cause] We are raising our valuation of O'Reilly to $410 per share from $378 [Relation] cause [Effect] led us to lift our 2020 marks (to 11% comparable growth from 7%)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A change in FCC leadership that is less friendly to local broadcasters may drastically affect Sinclair's ability to acquire additional stations and dominate local markets and may put a cap on the price of retransmission fees.",
    "output": "[Cause] A change in FCC leadership that is less friendly to local broadcasters [Relation] cause [Effect] affect Sinclair's ability to acquire additional stations and dominate local markets and may put a cap on the price of retransmission fees",
    "gold": "[Cause] A change in FCC leadership that is less friendly to local broadcasters [Relation] enable [Effect] affect Sinclair's ability to acquire additional stations and dominate local markets and may put a cap on the price of retransmission fees",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, these expenses have exceeded 45% of revenue in the last four years, and we expect this will continue to be the case for the next 10 years. Consequently, we forecast PVH's average annual adjusted operating margin at about 9% over the next 10 years, down from the low double digits just a few years ago.",
    "output": "[Cause] these expenses have exceeded 45% of revenue in the last four years, and we expect this will continue to be the case for the next 10 years [Relation] cause [Effect] PVH's average annual adjusted operating margin at about 9% over the next 10 years, down from the low double digits just a few years ago",
    "gold": "[Cause] these expenses have exceeded 45% of revenue in the last four years, and we expect this will continue to be the case for the next 10 years [Relation] cause [Effect] PVH's average annual adjusted operating margin at about 9% over the next 10 years, down from the low double digits just a few years ago",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, individual exposures are large, so an insurer needs substantial size for the law of large numbers to hold, which limits the number of carriers that can successfully operate in this area.",
    "output": "[Cause] individual exposures are large [Relation] cause [Effect] an insurer needs substantial size for the law of large numbers to hold",
    "gold": "[Cause] individual exposures are large [Relation] prevent [Effect] the number of carriers that can successfully operate in this area",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, individual exposures are large, so an insurer needs substantial size for the law of large numbers to hold, which limits the number of carriers that can successfully operate in this area.",
    "output": "[Cause] individual exposures are large [Relation] cause [Effect] an insurer needs substantial size for the law of large numbers to hold",
    "gold": "[Cause] individual exposures are large [Relation] cause [Effect] an insurer needs substantial size for the law of large numbers to hold",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, and especially in the case of Monolithic's products (as hinted in the name), the products are often single, integrated solutions. Therefore, the customer would need to find a competing design that has the same performance capabilities with a similar form factor and satisfies the preceding concerns about qualification.",
    "output": "[Cause] Finally, and especially in the case of Monolithic's products (as hinted in the name), the products are often single, integrated solutions [Relation] cause [Effect] the customer would need to find a competing design that has the same performance capabilities with a similar form factor and satisfies the preceding concerns about qualification",
    "gold": "[Cause] Finally, and especially in the case of Monolithic's products (as hinted in the name), the products are often single, integrated solutions [Relation] cause [Effect] the customer would need to find a competing design that has the same performance capabilities with a similar form factor and satisfies the preceding concerns about qualification",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the competitiveness of the segment and the potential for lower returns as more firms enter the segment, this is likely prudent.",
    "output": "[Cause] the competitiveness of the segment and the potential for lower returns as more firms enter the segment [Relation] cause [Effect] prudent",
    "gold": "[Cause] more firms enter the segment [Relation] prevent [Effect] Given the competitiveness of the segment and the potential for lower returns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the mission-critical nature of commercial building Specialty Industrial Machinerysystems, maintenance, service, and aftermarket parts are needed to avoid disruptive and costly system breakdowns.",
    "output": "[Cause] the mission-critical nature of commercial building Specialty Industrial Machinerysystems [Relation] cause [Effect] maintenance, service, and aftermarket parts are needed to avoid disruptive and costly system breakdowns",
    "gold": "[Cause] Given the mission-critical nature of commercial building Specialty Industrial Machinerysystem [Relation] cause [Effect] avoid disruptive and costly system breakdowns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect additional contribution from management's corporate G&A reduction efforts paired with increased traffic as vaccines are rolled out to result in a modest increase in 2021 consolidated adjusted pro forma EBITDA margins to 41.6% (versus 37.5% in 2020).",
    "output": "[Cause] vaccines are rolled out [Relation] cause [Effect] additional contribution from management's corporate G&A reduction efforts paired with increased traffic",
    "gold": "[Cause] vaccines are rolled out [Relation] cause [Effect] additional contribution from management's corporate G&A reduction efforts paired with increased traffic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect additional contribution from management's corporate G&A reduction efforts paired with increased traffic as vaccines are rolled out to result in a modest increase in 2021 consolidated adjusted pro forma EBITDA margins to 41.6% (versus 37.5% in 2020).",
    "output": "[Cause] vaccines are rolled out [Relation] cause [Effect] additional contribution from management's corporate G&A reduction efforts paired with increased traffic",
    "gold": "[Cause] additional contribution from management's corporate G&A reduction efforts paired with increased traffic [Relation] enable [Effect] a modest increase in 2021 consolidated adjusted pro forma EBITDA margins to 41.6% (versus 37.5% in 2020)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Fee rates for the contracts are typically set based on independent analysis of similar assets at other refineries in the region. As a result, we see returns on invested capital averaging around 8%-9% over the next five years (including the acquisition of Andeavor Logistics), in excess of our weighted average cost of capital.",
    "output": "[Cause] Fee rates for the contracts are typically set based on independent analysis of similar assets at other refineries in the region [Relation] cause [Effect] returns on invested capital averaging around 8%-9% over the next five years (including the acquisition of Andeavor Logistics), in excess of our weighted average cost of capital",
    "gold": "[Cause] Fee rates for the contracts are typically set based on independent analysis of similar assets at other refineries in the region [Relation] enable [Effect] returns on invested capital averaging around 8%-9% over the next five years (including the acquisition of Andeavor Logistics), in excess of our weighted average cost of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We model FireEye producing an 8% five-year revenue CAGR as it gains momentum with cloud-based subscriptions and managed services.",
    "output": "[Cause] it gains momentum with cloud-based subscriptions and managed services [Relation] cause [Effect] We model FireEye producing an 8% five-year revenue CAGR",
    "gold": "[Cause] it gains momentum with cloud-based subscriptions and managed services [Relation] cause [Effect] We model FireEye producing an 8% five-year revenue CAGR",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For instance, if a business decided to replace NICE's CXOne with a different vendor, there would be a disruption in customer communication that could adversely impact customer service activities, leading to frustration and a loss of customers.",
    "output": "[Cause] a disruption in customer communication [Relation] cause [Effect] adversely impact customer service activities, leading to frustration and a loss of customers",
    "gold": "[Cause] if a business decided to replace NICE's CXOne with a different vendor [Relation] cause [Effect]  there would be a disruption in customer communication that could adversely impact customer service activities, leading to frustration and a loss of customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "There are industry constituents that have bigger franchises and financial resources, which could cause the competitive environment to become promotional.",
    "output": "[Cause] There are industry constituents that have bigger franchises and financial resources [Relation] cause [Effect] the competitive environment to become promotional",
    "gold": "[Cause] There are industry constituents that have bigger franchises and financial resources [Relation] cause [Effect] the competitive environment to become promotional",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the company to reinvest some of these cost savings in building its network through loyalty and user experience enhancements over the next few years.",
    "output": "[Cause] loyalty and user experience enhancements over the next few years [Relation] enable [Effect] the company to reinvest some of these cost savings in building its network",
    "gold": "[Cause] We expect the company to reinvest some of these cost savings in building its network through loyalty [Relation] enable [Effect] and user experience enhancements over the next few years.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After digesting US Foods' fourth-quarter earnings report, we are bumping our per share fair value estimate to $32 from $30 as the company has identified $180 million in permanent expense reductions, which should modestly bump our long-term operating margins by 10 basis points to 3.5%.",
    "output": "[Cause] the company has identified $180 million in permanent expense reductions [Relation] cause [Effect] bumping our per share fair value estimate to $32 from $30",
    "gold": "[Cause] we are bumping our per share fair value estimate to $32 from $30 [Relation] cause [Effect] modestly bump our long-term operating margins by 10 basis points to 3.5%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Stifel Financial, along with other investment banks, has had relatively strong revenue in 2020, as economic uncertainty led to strong trading volumes and capital raising activity.",
    "output": "[Cause] economic uncertainty [Relation] cause [Effect] strong trading volumes and capital raising activity",
    "gold": "[Cause] economic uncertainty [Relation] cause [Effect] strong trading volumes and capital raising activity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Stifel Financial, along with other investment banks, has had relatively strong revenue in 2020, as economic uncertainty led to strong trading volumes and capital raising activity.",
    "output": "[Cause] economic uncertainty [Relation] cause [Effect] strong trading volumes and capital raising activity",
    "gold": "[Cause] strong trading volumes and capital raising activity [Relation] enable [Effect] Stifel Financial, along with other investment banks, has had relatively strong revenue in 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With a net debt/adjusted EBITDA ratio that has consistently been around 6 the past few years, we think the firm is constantly in danger of tripping debt covenants.",
    "output": "[Cause] a net debt/adjusted EBITDA ratio that has consistently been around 6 the past few years [Relation] cause [Effect] the firm is constantly in danger of tripping debt covenants",
    "gold": "[Cause] a net debt/adjusted EBITDA ratio that has consistently been around 6 the past few years [Relation] prevent [Effect]  the firm is constantly in danger of tripping debt covenants",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "More of ADS' partners are likely to go out of business due to the current downturn, which would be a negative for the company's future revenue.",
    "output": "[Cause] the current downturn [Relation] cause [Effect] More of ADS' partners are likely to go out of business",
    "gold": "[Cause] the current downturn [Relation] prevent [Effect] More of ADS' partners are likely to go out of business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "More of ADS' partners are likely to go out of business due to the current downturn, which would be a negative for the company's future revenue.",
    "output": "[Cause] the current downturn [Relation] cause [Effect] More of ADS' partners are likely to go out of business",
    "gold": "[Cause] the current downturn [Relation] prevent [Effect] negative for the company's future revenue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think combined global sales of Avonex and Plegridy will continue to fall, with low-double-digit declines annually because of new competition.",
    "output": "[Cause] new competition [Relation] cause [Effect] low-double-digit declines annually",
    "gold": "[Cause] low-double-digit declines annually because of new competition [Relation] cause [Effect] We think combined global sales of Avonex and Plegridy will continue to fall",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast only modest margin expansion over the next few years, as we believe the inherent scalability of the business will be largely offset by investments to accelerate growth.",
    "output": "[Cause] investments to accelerate growth [Relation] prevent [Effect] the inherent scalability of the business",
    "gold": "[Cause] the inherent scalability of the business will be largely offset [Relation] cause [Effect] only modest margin expansion over the next few years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, Sysco has switched to a team-based sales approach, with product specialists that should help drive increased adoption of Sysco's specialized product categories such as produce, fresh meats, and seafood.",
    "output": "[Cause] Sysco has switched to a team-based sales approach, with product specialists [Relation] enable [Effect] increase adoption of Sysco's specialized product categories such as produce, fresh meats, and seafood",
    "gold": "[Cause]  Sysco has switched to a team-based sales approach, with product specialists [Relation] enable [Effect] help drive increased adoption of Sysco's specialized product categories such as produce, fresh meats, and seafood",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because Oxxo is a pure-play convenience store chain, the preponderance of its goods are high-velocity items, with fast-turning wares like beer, cigarettes, soft drinks, and snacks serving as its largest draws.",
    "output": "[Cause] Oxxo is a pure-play convenience store chain [Relation] cause [Effect] the preponderance of its goods are high-velocity items",
    "gold": "[Cause] Oxxo is a pure-play convenience store chain [Relation] enable [Effect] the preponderance of its goods are high-velocity items",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because Oxxo is a pure-play convenience store chain, the preponderance of its goods are high-velocity items, with fast-turning wares like beer, cigarettes, soft drinks, and snacks serving as its largest draws.",
    "output": "[Cause] fast-turning wares like beer, cigarettes, soft drinks, and snacks serving as its largest draws [Relation] cause [Effect] the preponderance of its goods are high-velocity items",
    "gold": "[Cause] the preponderance of its goods are high-velocity items [Relation] enable [Effect] fast-turning wares like beer, cigarettes, soft drinks, and snacks serving as its largest draws",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe Cantel is considered a highly reliable AER provider, with a market-leading position solidified by taking share after recalls at Custom Ultrasonics in 2015 and Steris in 2012.",
    "output": "[Cause] taking share after recalls at Custom Ultrasonics in 2015 and Steris in 2012 [Relation] enable [Effect] a market-leading position",
    "gold": "[Cause] taking share after recalls at Custom Ultrasonics in 2015 and Steris in 2012 [Relation] enable [Effect] a market-leading position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Cantel is considered a highly reliable AER provider, with a market-leading position solidified by taking share after recalls at Custom Ultrasonics in 2015 and Steris in 2012.",
    "output": "[Cause] taking share after recalls at Custom Ultrasonics in 2015 and Steris in 2012 [Relation] enable [Effect] a market-leading position",
    "gold": "[Cause] a market-leading position [Relation] cause [Effect] Cantel is considered a highly reliable AER provider",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect gross margins to steady near fiscal 2019's 33.6% in the long term, down from 36.5% in 2020 (the near-term mark is fueled by cost leverage from elevated sales during the pandemic and promotion optimization work).",
    "output": "[Cause] cost leverage from elevated sales during the pandemic and promotion optimization work [Relation] cause [Effect] gross margins to steady near fiscal 2019's 33.6% in the long term, down from 36.5% in 2020",
    "gold": "[Cause] cost leverage from elevated sales during the pandemic and promotion optimization work [Relation] cause [Effect] gross margins to steady near fiscal 2019's 33.6% in the long term, down from 36.5% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, Merck is through the worst of its patent cliff, which should remove the heightened generic competition the company has experienced over the past years.",
    "output": "[Cause] Merck is through the worst of its patent cliff [Relation] enable [Effect] remove the heightened generic competition the company has experienced over the past years",
    "gold": "[Cause] Merck is through the worst of its patent cliff [Relation] enable [Effect] remove the heightened generic competition the company has experienced over the past years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The emergence of the eurosceptic Five Star movement comes with the possibility of an Italian exit from the common currency--but not an exit from the European Union.",
    "output": "[Cause] The emergence of the eurosceptic Five Star movement [Relation] cause [Effect] the possibility of an Italian exit from the common currency",
    "gold": "[Cause] The emergence of the eurosceptic Five Star movement [Relation] cause [Effect]  the possibility of an Italian exit from the common currency",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Secular tailwinds include broad-based accelerated adoption of cloud-based technology by businesses, which should generate strong demand for such products in the contact center space as well.",
    "output": "[Cause] Secular tailwinds include broad-based accelerated adoption of cloud-based technology by businesses [Relation] cause [Effect] generate strong demand for such products in the contact center space as well",
    "gold": "[Cause] Secular tailwinds include broad-based accelerated adoption of cloud-based technology by businesses [Relation] cause [Effect] generate strong demand for such products in the contact center space as well",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, there's some risk that a rising incidence of \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"nuclear verdicts\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" (for fatal crashes) against truckers pushes claims-related outflows materially higher and drives persistent insurance-cost inflation.",
    "output": "[Cause] a rising incidence of \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"",
    "gold": "[Cause] a rising incidence of \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"nuclear verdicts\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" (for fatal crashes) against truckers [Relation] cause [Effect] claims-related outflows materially higher and drives persistent insurance-cost inflation",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A significant portion of Asbury's growth will come from roll-up acquisitions, and the Park Place deal brings integration risk and some balance sheet risk.",
    "output": "[Cause] the Park Place deal brings integration risk and some balance sheet risk [Relation] cause [Effect] A significant portion of Asbury's growth will come from roll-up acquisitions",
    "gold": "[Cause]  roll-up acquisitions [Relation] cause [Effect]  Asbury's growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although recent results in Europe have been affected by the pandemic, we see room for growth as Ralph Lauren only operates about 30 full-line stores in the region.",
    "output": "[Cause] Ralph Lauren only operates about 30 full-line stores in the region [Relation] cause [Effect] room for growth",
    "gold": "[Cause] Ralph Lauren only operates about 30 full-line stores in the region [Relation] enable [Effect]  room for growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, a good portion of its fee-based and hedged income stream is not take-or-pay contracts, meaning it is exposed to volume risks.",
    "output": "[Cause] a good portion of its fee-based and hedged income stream is not take-or-pay contracts [Relation] cause [Effect] it is exposed to volume risks",
    "gold": "[Cause]  a good portion of its fee-based and hedged income stream is not take-or-pay contracts [Relation] cause [Effect] it is exposed to volume risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Merchant customers, on the other hand, do face switching costs, as they typically enter into three- to seven-year contracts and often rely on industrial gas companies for storage and vaporization.",
    "output": "[Cause] they typically enter into three- to seven-year contracts and often rely on industrial gas companies for storage and vaporization [Relation] cause [Effect] face switching costs",
    "gold": "[Cause] they typically enter into three- to seven-year contracts and often rely on industrial gas companies for storage and vaporization [Relation] cause [Effect] face switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, we expect a decline in GAAP operating margin in 2021 and 2022 due to increased investments into the business, but strong GAAP operating margin expansion from 2023 to 2025.",
    "output": "[Cause] increased investments into the business [Relation] cause [Effect] a decline in GAAP operating margin in 2021 and 2022",
    "gold": "[Cause]  increased investments into the business [Relation] cause [Effect] a decline in GAAP operating margin in 2021 and 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, we expect a decline in GAAP operating margin in 2021 and 2022 due to increased investments into the business, but strong GAAP operating margin expansion from 2023 to 2025.",
    "output": "[Cause] increased investments into the business [Relation] cause [Effect] a decline in GAAP operating margin in 2021 and 2022",
    "gold": "[Cause]  a decline in GAAP operating margin in 2021 and 2022 [Relation] cause [Effect] strong GAAP operating margin expansion from 2023 to 2025",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, due to COVID-19 and the increasing uncertainty around the economy and the potential downside, we are currently assigning Comerica a very high uncertainty rating.",
    "output": "[Cause] COVID-19 and the increasing uncertainty around the economy and the potential downside [Relation] cause [Effect] we are currently assigning Comerica a very high uncertainty rating",
    "gold": "[Cause] COVID-19 and the increasing uncertainty around the economy and the potential downside [Relation] cause [Effect] we are currently assigning Comerica a very high uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The risks of additional waves of COVID-19 cases and elongated time until an effective vaccine is widely distributed remain, which could delay our forecast recovery in demand.",
    "output": "[Cause] The risks of additional waves of COVID-19 cases and elongated time until an effective vaccine is widely distributed remain [Relation] cause [Effect] delay our forecast recovery in demand",
    "gold": "[Cause] The risks of additional waves of COVID-19 cases and elongated time until an effective vaccine is widely distributed remain [Relation] cause [Effect] delay our forecast recovery in demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Beyond this tie-up, over the next few quarters, we expect products (like laundry and vitamins) will continue to be in high demand as a focus on wellness and cleaning remains at the forefront for consumers.",
    "output": "[Cause] a focus on wellness and cleaning remains at the forefront for consumers [Relation] cause [Effect] products (like laundry and vitamins) will continue to be in high demand",
    "gold": "[Cause]  a focus on wellness and cleaning remains at the forefront for consumers [Relation] cause [Effect] products (like laundry and vitamins) will continue to be in high demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, the industry has seen a trend of consolidation, and as large players expand their offerings via inorganic investments, Splunk faces more pressure in maintaining its leadership position.",
    "output": "[Cause] large players expand their offerings via inorganic investments [Relation] cause [Effect] Splunk faces more pressure in maintaining its leadership position",
    "gold": "[Cause] large players expand their offerings via inorganic investments [Relation] cause [Effect] Splunk faces more pressure in maintaining its leadership position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, the industry has seen a trend of consolidation, and as large players expand their offerings via inorganic investments, Splunk faces more pressure in maintaining its leadership position.",
    "output": "[Cause] large players expand their offerings via inorganic investments [Relation] cause [Effect] Splunk faces more pressure in maintaining its leadership position",
    "gold": "[Cause]  inorganic investments [Relation] enable [Effect]  large players expand their offerings",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Second, the shelter-in-place orders related to COVID-19 caused massive layoffs, and if those unemployed people lose their health insurance for a sustained period, Anthem's employer-based insurance rolls could remain lower than currently expected.",
    "output": "[Cause] the shelter-in-place orders related to COVID-19 [Relation] cause [Effect] massive layoffs",
    "gold": "[Cause] the shelter-in-place orders related to COVID-19 caused massive layoffs [Relation] cause [Effect] unemployed people lose their health insurance for a sustained period",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Low long-term interest rates will affect Schwab's reinvestment opportunities for much of its banking portfolio, while short-term interest rates, such as the federal-funds rate, will affect the company's floating-rate securities.",
    "output": "[Cause] Low long-term interest rates [Relation] cause [Effect] affect Schwab's reinvestment opportunities for much of its banking portfolio",
    "gold": "[Cause] Low long-term interest rates [Relation] prevent [Effect] affect Schwab's reinvestment opportunities for much of its banking portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Low long-term interest rates will affect Schwab's reinvestment opportunities for much of its banking portfolio, while short-term interest rates, such as the federal-funds rate, will affect the company's floating-rate securities.",
    "output": "[Cause] short-term interest rates [Relation] cause [Effect] affect the company's floating-rate securities",
    "gold": "[Cause] short-term interest rates [Relation] prevent [Effect] affect the company's floating-rate securities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Low long-term interest rates will affect Schwab's reinvestment opportunities for much of its banking portfolio, while short-term interest rates, such as the federal-funds rate, will affect the company's floating-rate securities.",
    "output": "[Cause] short-term interest rates [Relation] cause [Effect] affect the company's floating-rate securities",
    "gold": "[Cause] Low long-term interest rates [Relation] prevent [Effect] Schwab's reinvestment opportunities for much of its banking portfolio",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the leisure market, we expect Southwest to focus on maintaining its existing network for the time being, as cyclically shaken passenger traffic is too small to support expansion.",
    "output": "[Cause] cyclically shaken passenger traffic is too small to support expansion [Relation] cause [Effect] Southwest to focus on maintaining its existing network for the time being",
    "gold": "[Cause] cyclically shaken passenger traffic is too small to support expansion [Relation] cause [Effect] Southwest to focus on maintaining its existing network for the time being",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Secular trends that benefit portions of Eaton's portfolio include the trend toward electrification of vehicles, which complements Eaton's core competencies, and which we believe will help drive top-line growth.",
    "output": "[Cause] Secular trends [Relation] enable [Effect] benefit portions of Eaton's portfolio include the trend toward electrification of vehicles",
    "gold": "[Cause] Secular trends that benefit portions of Eaton's portfolio include the trend toward electrification of vehicles [Relation] enable [Effect] complements Eaton's core competencies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In recent months, gold prices have risen to more than $1,900 per ounce as investment demand has strengthened during the COVID-19 pandemic.",
    "output": "[Cause] investment demand has strengthened during the COVID-19 pandemic [Relation] cause [Effect] gold prices have risen to more than $1,900 per ounce",
    "gold": "[Cause]  investment demand has strengthened during the COVID-19 pandemic [Relation] cause [Effect] gold prices have risen to more than $1,900 per ounce",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of the third-party broker arrangement, there is little opportunity for Boston Properties to directly influence a leasing decision, and leasing terms tend to be specified to meet client needs and reflective of current market rates coordinated through the brokers.",
    "output": "[Cause] the third-party broker arrangement [Relation] cause [Effect] there is little opportunity for Boston Properties to directly influence a leasing decision",
    "gold": "[Cause] the third-party broker arrangement [Relation] cause [Effect] there is little opportunity for Boston Properties to directly influence a leasing decision",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A strong end to fiscal 2020 for Ross (fourth-quarter comparable sales down a better-than-expected 6%) and its peers leads us to lift our valuation of its shares to $100 from $94.",
    "output": "[Cause] A strong end to fiscal 2020 for Ross (fourth-quarter comparable sales down a better-than-expected 6%) and its peers [Relation] cause [Effect] lift our valuation of its shares to $100 from $94",
    "gold": "[Cause] A strong end to fiscal 2020 for Ross (fourth-quarter comparable sales down a better-than-expected 6%) and its peers [Relation] cause [Effect]  lift our valuation of its shares to $100 from $94",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These customers do not want to undertake the switching cost to receive cheaper EPYC processors for one cycle before AMD is unable to launch the next generation on-time, or at all.",
    "output": "[Cause] AMD is unable to launch the next generation on-time, or at all [Relation] cause [Effect] These customers do not want to undertake the switching cost to receive cheaper EPYC processors for one cycle",
    "gold": "[Cause] AMD is unable to launch the next generation on-time, or at all [Relation] cause [Effect] These customers do not want to undertake the switching cost to receive cheaper EPYC processors for one cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we recognize that controversies surrounding the fatal accidents that caused global regulators to ground 737 MAX may challenge some of Boeing's authority on the matter, we believe that the continued cost-efficiency of certification delegation will allow Boeing to retain an advantaged position within the regulatory framework.",
    "output": "[Cause] the continued cost-efficiency of certification delegation [Relation] enable [Effect] Boeing to retain an advantaged position within the regulatory framework",
    "gold": "[Cause] controversies surrounding the fatal accidents [Relation] cause [Effect] global regulators to ground 737 MAX may challenge some of Boeing's authority on the matter",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we recognize that controversies surrounding the fatal accidents that caused global regulators to ground 737 MAX may challenge some of Boeing's authority on the matter, we believe that the continued cost-efficiency of certification delegation will allow Boeing to retain an advantaged position within the regulatory framework.",
    "output": "[Cause] the continued cost-efficiency of certification delegation [Relation] enable [Effect] Boeing to retain an advantaged position within the regulatory framework",
    "gold": "[Cause] the continued cost-efficiency of certification delegation [Relation] enable [Effect] Boeing to retain an advantaged position within the regulatory framework",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Increased winter weather volatility from the effects of climate change will likely cause volumes to fluctuate from year to year.",
    "output": "[Cause] Increased winter weather volatility [Relation] cause [Effect] volumes to fluctuate from year to year",
    "gold": "[Cause] climate change [Relation] cause [Effect] Increased winter weather volatility",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This is also supported by the broader trend within technology to consolidate vendors to ease the burden on CIOs and IT management professionals.",
    "output": "[Cause] consolidate vendors [Relation] enable [Effect] ease the burden on CIOs and IT management professionals",
    "gold": "[Cause]  consolidate vendors [Relation] enable [Effect]  ease the burden on CIOs and IT management professionals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But this should not impact InterContinental's uncertainty rating unless travel demand once again returns to near zero for an extended period of time, leading to potential needs for incremental liquidity, which perhaps could occur at value destructive levels.",
    "output": "[Cause] travel demand once again returns to near zero for an extended period of time [Relation] cause [Effect] potential needs for incremental liquidity",
    "gold": "[Cause] this should not impact InterContinental's uncertainty rating [Relation] cause [Effect] potential needs for incremental liquidity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, the coronavirus pandemic that has led to sharply lower oil and petrochemical prices, will dent Sinopec's earnings and cash flow in 2020-21.",
    "output": "[Cause] the coronavirus pandemic [Relation] cause [Effect] sharply lower oil and petrochemical prices",
    "gold": "[Cause] the coronavirus pandemic [Relation] prevent [Effect] Sinopec's earnings and cash flow in 2020-21",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, customers are likely to stay with VMware because of knowledge of its product ecosystem as well as the risks and complexities associated with changing virtual machine providers.",
    "output": "[Cause] knowledge of its product ecosystem as well as the risks and complexities associated with changing virtual machine providers [Relation] cause [Effect] customers are likely to stay with VMware",
    "gold": "[Cause] knowledge of its product ecosystem as well as the risks and complexities associated with changing virtual machine providers [Relation] enable [Effect] customers are likely to stay with VMware",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The tendency for manufacturers to reduce the cost of aircraft design by using derivative (such as Airbus' A320neo and Boeing's 737 MAX), rather than clean-sheet new aircraft, reduces the probability that a particular component will be recompeted in the redesign.",
    "output": "[Cause] The tendency for manufacturers to reduce the cost of aircraft design by using derivative (such as Airbus' A320neo and Boeing's 737 MAX), rather than clean-sheet new aircraft [Relation] cause [Effect] reduces the probability that a particular component will be recompeted in the redesign",
    "gold": "[Cause]  using derivative [Relation] enable [Effect]  manufacturers to reduce the cost of aircraft design",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Lennar's investment in its multifamily business distinguishes the company from many other homebuilders and has the potential to create shareholder value down the road.",
    "output": "[Cause] Lennar's investment in its multifamily business [Relation] enable [Effect] distinguishes the company from many other homebuilders",
    "gold": "[Cause] Lennar's investment in its multifamily business [Relation] cause [Effect] distinguishes the company from many other homebuilders",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lennar's investment in its multifamily business distinguishes the company from many other homebuilders and has the potential to create shareholder value down the road.",
    "output": "[Cause] Lennar's investment in its multifamily business [Relation] enable [Effect] has the potential to create shareholder value down the road",
    "gold": "[Cause] Lennar's investment in its multifamily business [Relation] cause [Effect] has the potential to create shareholder value down the road",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Carnival was already facing pricing headwinds, with weak performance across European geographies, when the global spread of COVID-19 exacerbated its plight. As a result, 2020 has been even more difficult to navigate than past recessions, with capacity down more than 70% (by our estimate).",
    "output": "[Cause] Carnival was already facing pricing headwinds, with weak performance across European geographies, when the global spread of COVID-19 exacerbated its plight [Relation] cause [Effect] 2020 has been even more difficult to navigate than past recessions, with capacity down more than 70% (by our estimate)",
    "gold": "[Cause] Carnival was already facing pricing headwinds, with weak performance across European geographies, when the global spread of COVID-19 exacerbated its plight [Relation] cause [Effect] 2020 has been even more difficult to navigate than past recessions, with capacity down more than 70% (by our estimate)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The economic impact from COVID-19 will lead to a pronounced increase in loan-loss provisions of all European banks, and SocGen will be no exception.",
    "output": "[Cause] The economic impact from COVID-19 [Relation] cause [Effect] a pronounced increase in loan-loss provisions of all European banks",
    "gold": "[Cause] The economic impact from COVID-19 [Relation] cause [Effect] a pronounced increase in loan-loss provisions of all European banks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assign a narrow economic rating to Scotts Miracle-Gro because of intangible assets from the company's portfolio of well-recognized brands.",
    "output": "[Cause] intangible assets from the company's portfolio of well-recognized brands [Relation] cause [Effect] We assign a narrow economic rating to Scotts Miracle-Gro",
    "gold": "[Cause] intangible assets from the company's portfolio of well-recognized brands [Relation] cause [Effect] We assign a narrow economic rating to Scotts Miracle-Gro",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With diminishing growth prospects, management has slashed investment, strengthened the balance sheet, and focused on returning cash to shareholders through the dividend and stock buybacks.",
    "output": "[Cause] diminishing growth prospects [Relation] cause [Effect] management has slashed investment, strengthened the balance sheet",
    "gold": "[Cause] the dividend and stock buybacks [Relation] enable [Effect] management has slashed investment, strengthened the balance sheet, and focused on returning cash to shareholders",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We estimate Shaw has only about 5% of the Canadian wireless subscribers as of 2020, and the economics of its wireless segment pale in comparison to competitors.",
    "output": "[Cause] Shaw has only about 5% of the Canadian wireless subscribers as of 2020 [Relation] cause [Effect] the economics of its wireless segment pale in comparison to competitors",
    "gold": "[Cause] Shaw has only about 5% of the Canadian wireless subscribers as of 2020 [Relation] cause [Effect] the economics of its wireless segment pale in comparison to competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our base-case scenario assumes that the bank's efficiency ratio eventually declines to 52% as management exercises discipline on costs and continues to make technological gains.",
    "output": "[Cause] management exercises discipline on costs and continues to make technological gains [Relation] cause [Effect] the bank's efficiency ratio eventually declines to 52%",
    "gold": "[Cause] management exercises discipline on costs and continues to make technological gains [Relation] cause [Effect] the bank's efficiency ratio eventually declines to 52%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, the firm bought URS when oil prices were near their peak, and the acquired oil and gas unit has been significantly downsized due to a prolonged downturn in oil prices.",
    "output": "[Cause] a prolonged downturn in oil prices [Relation] cause [Effect] the acquired oil and gas unit has been significantly downsized",
    "gold": "[Cause] a prolonged downturn in oil prices [Relation] cause [Effect] the acquired oil and gas unit has been significantly downsized",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Journals' prestige is derived, in part, from a network effect--increased readership within the target audience makes the publication more important to authors, while the achievements and notoriety of the authors drive subscriptions.",
    "output": "[Cause] a network effect [Relation] cause [Effect] Journals' prestige",
    "gold": "[Cause] increased readership within the target audience [Relation] cause [Effect] the publication more important to authors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Journals' prestige is derived, in part, from a network effect--increased readership within the target audience makes the publication more important to authors, while the achievements and notoriety of the authors drive subscriptions.",
    "output": "[Cause] the achievements and notoriety of the authors [Relation] cause [Effect] subscriptions",
    "gold": "[Cause] the achievements and notoriety of the authors [Relation] cause [Effect] subscriptions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If regulatory requirements become less stringent, demand for Aptar's consulting-like services could decline, and pharmaceutical companies could bring more primary packaging design and production in-house.",
    "output": "[Cause] regulatory requirements become less stringent [Relation] cause [Effect] demand for Aptar's consulting-like services could decline",
    "gold": "[Cause] regulatory requirements become less stringent [Relation] cause [Effect] demand for Aptar's consulting-like services could decline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If regulatory requirements become less stringent, demand for Aptar's consulting-like services could decline, and pharmaceutical companies could bring more primary packaging design and production in-house.",
    "output": "[Cause] regulatory requirements become less stringent [Relation] cause [Effect] pharmaceutical companies could bring more primary packaging design and production in-house",
    "gold": "[Cause] regulatory requirements become less stringent [Relation] cause [Effect] pharmaceutical companies could bring more primary packaging design and production in-house",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The flip side of this model is that the bank has one of the highest proportions of Libor-based commercial loans, meaning its loan book reprices very quickly, with almost 90% of the book being adjustable rate.",
    "output": "[Cause] the bank has one of the highest proportions of Libor-based commercial loans [Relation] cause [Effect] its loan book reprices very quickly, with almost 90% of the book being adjustable rate",
    "gold": "[Cause] the bank has one of the highest proportions of Libor-based commercial loans [Relation] enable [Effect]  its loan book reprices very quickly, with almost 90% of the book being adjustable rate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The ''Gear Up'' initiative, which reached completion in 2018, brought some needed reductions to the bank's overall cost base, which does help, but there is no way for Comerica to completely offset the pressure that a lower rate environment brings.",
    "output": "[Cause] The ''Gear Up'' initiative, which reached completion in 2018, brought some needed reductions to the bank's overall cost base [Relation] enable [Effect] helps",
    "gold": "[Cause] The ''Gear Up'' initiative, [Relation] enable [Effect] needed reductions to the bank's overall cost base",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We assume neuromodulation will return to match market growth at 7% annually by 2022, as the firm rebuilds its referral pipeline.",
    "output": "[Cause] the firm rebuilds its referral pipeline [Relation] cause [Effect] neuromodulation will return to match market growth at 7% annually by 2022",
    "gold": "[Cause]  the firm rebuilds its referral pipeline [Relation] cause [Effect] neuromodulation will return to match market growth at 7% annually by 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cisco's shift into selling subscription-based hardware, software and services as three-, five-, or seven-year packages has further entwined the company within its expansive customer base.",
    "output": "[Cause] Cisco's shift into selling subscription-based hardware, software and services as three-, five-, or seven-year packages [Relation] enable [Effect] further entwined the company within its expansive customer base",
    "gold": "[Cause]  its expansive customer base [Relation] enable [Effect] Cisco's shift into selling subscription-based hardware, software and services as three-, five-, or seven-year packages has further entwined the company",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To reflect the significant degree of operating leverage inherent in a large manufacturer and the possibility that commodity costs could rise beyond our forecast, our fair value uncertainty rating is high.",
    "output": "[Cause] the significant degree of operating leverage inherent in a large manufacturer [Relation] cause [Effect] commodity costs could rise beyond our forecast",
    "gold": "[Cause] commodity costs could rise beyond our forecast [Relation] cause [Effect] our fair value uncertainty rating is high",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To reflect the significant degree of operating leverage inherent in a large manufacturer and the possibility that commodity costs could rise beyond our forecast, our fair value uncertainty rating is high.",
    "output": "[Cause] commodity costs could rise beyond our forecast [Relation] cause [Effect] our fair value uncertainty rating is high",
    "gold": "[Cause] our fair value uncertainty rating is high [Relation] enable [Effect] reflect the significant degree of operating leverage inherent in a large manufacturer",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Analogous to the decline of PCs (with current PCs more than adequate for most applications), Apple faces the possibility of smartphone unit stagnation or even declines once emerging markets saturate or consumers gravitate to mid-tier devices.",
    "output": "[Cause] emerging markets saturate or consumers gravitate to mid-tier devices [Relation] cause [Effect] Apple faces the possibility of smartphone unit stagnation or even declines",
    "gold": "[Cause] emerging markets saturate or consumers gravitate to mid-tier devices [Relation] enable [Effect] Apple faces the possibility of smartphone unit stagnation or even declines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Companies that use freemium models do not typically report a customer churn statistic, as it generally would not be nearly as attractive as dollar retention.",
    "output": "[Cause] it generally would not be nearly as attractive as dollar retention [Relation] cause [Effect] Companies that use freemium models do not typically report a customer churn statistic",
    "gold": "[Cause] it generally would not be nearly as attractive as dollar retention [Relation] cause [Effect] Companies that use freemium models do not typically report a customer churn statistic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Corteva's intangible assets stem from the research and development spending required for the continual development of proprietary seed and crop chemical formulations.",
    "output": "[Cause] the research and development spending required for the continual development of proprietary seed and crop chemical formulations [Relation] cause [Effect] Corteva's intangible assets",
    "gold": "[Cause]  the research and development spending required for the continual development of proprietary seed and crop chemical formulations [Relation] cause [Effect] Corteva's intangible assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe SG&A expenses will deleverage modestly from estimated 2020 levels (34.5%) on store closures and a more efficient supply chain.",
    "output": "[Cause] store closures and a more efficient supply chain [Relation] cause [Effect] SG&A expenses will deleverage modestly from estimated 2020 levels (34.5%)",
    "gold": "[Cause] store closures and a more efficient supply chain [Relation] enable [Effect] SG&A expenses will deleverage modestly from estimated 2020 levels (34.5%)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm differentiates itself by attempting to identify prospective areas before most peers catch on, enabling it to secure leasehold at attractive rates (rather than overpaying for land after the market overheats).",
    "output": "[Cause] attempting to identify prospective areas before most peers catch on [Relation] enable [Effect] The firm differentiates itself",
    "gold": "[Cause] attempting to identify prospective areas before most peers catch on [Relation] cause [Effect] The firm differentiates itself",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm differentiates itself by attempting to identify prospective areas before most peers catch on, enabling it to secure leasehold at attractive rates (rather than overpaying for land after the market overheats).",
    "output": "[Cause] The firm differentiates itself [Relation] enable [Effect] it to secure leasehold at attractive rates",
    "gold": "[Cause] attempting to identify prospective areas before most peers catch on [Relation] enable [Effect] it to secure leasehold at attractive rates",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "RNA-based therapies have been on a long and winding path to market, with enthusiasm in the early 2000s drying up as the difficulties of successfully delivering the treatments to the right tissue in the body became clear.",
    "output": "[Cause] the difficulties of successfully delivering the treatments to the right tissue in the body became clear [Relation] cause [Effect] enthusiasm in the early 2000s drying up",
    "gold": "[Cause] the difficulties of successfully delivering the treatments to the right tissue in the body became clear [Relation] cause [Effect]  enthusiasm in the early 2000s drying up",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Automakers' move to more global platforms is very good news for Gentex since a supplier must be able to service the OEM consistently all over the world.",
    "output": "[Cause] a supplier must be able to service the OEM consistently all over the world [Relation] cause [Effect] Automakers' move to more global platforms is very good news for Gentex",
    "gold": "[Cause] a supplier must be able to service the OEM consistently all over the world [Relation] cause [Effect] Automakers' move to more global platforms is very good news for Gentex",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We feel that Adient's leading position in seating positions it well with new OEM entrants, such as electric vehicle startups, and possible new markets, such as autonomous vehicles made by Silicon Valley firms and by incumbent automakers.",
    "output": "[Cause] Adient's leading position in seating [Relation] enable [Effect] positions it well with new OEM entrants",
    "gold": "[Cause] new OEM entrants [Relation] cause [Effect] Adient's leading position in seating positions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We feel that Adient's leading position in seating positions it well with new OEM entrants, such as electric vehicle startups, and possible new markets, such as autonomous vehicles made by Silicon Valley firms and by incumbent automakers.",
    "output": "[Cause] possible new markets [Relation] enable [Effect] autonomous vehicles made by Silicon Valley firms and by incumbent automakers",
    "gold": "[Cause] possible new markets [Relation] cause [Effect] Adient's leading position in seating positions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Natural gas pipeline contracts are on a firm capacity basis, which means once capacity is fully contracted, new shippers will be denied service.",
    "output": "[Cause] capacity is fully contracted [Relation] cause [Effect] new shippers will be denied service",
    "gold": "[Cause] capacity is fully contracted [Relation] cause [Effect] new shippers will be denied service",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect average annual comps of 6% from 2022-25 due to new menu innovations, guest experience improvements and second assembly line delivery/catering orders.",
    "output": "[Cause] new menu innovations, guest experience improvements and second assembly line delivery/catering orders [Relation] cause [Effect] average annual comps of 6% from 2022-25",
    "gold": "[Cause] new menu innovations, guest experience improvements and second assembly line delivery/catering orders [Relation] cause [Effect] average annual comps of 6% from 2022-25",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At times, pricing can get very aggressive (especially during periods of high food inflation), and US Foods may experience margin compression.",
    "output": "[Cause] pricing can get very aggressive (especially during periods of high food inflation) [Relation] cause [Effect] US Foods may experience margin compression",
    "gold": "[Cause] pricing can get very aggressive (especially during periods of high food inflation) [Relation] cause [Effect] US Foods may experience margin compression",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also think the company is more sensitive to an economic downturn than a typical enterprise, as people may be less willing to make donations during recessions and customer churn at the smaller end will likely increase.",
    "output": "[Cause] people may be less willing to make donations during recessions and customer churn at the smaller end will likely increase [Relation] cause [Effect] the company is more sensitive to an economic downturn than a typical enterprise",
    "gold": "[Cause] people may be less willing to make donations during recessions and customer churn at the smaller end will likely increase [Relation] cause [Effect] the company is more sensitive to an economic downturn than a typical enterprise",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, InterContinental and other large hotel brands require high amounts of human capital, which helps drive traveler experience and therefore is tied to brand intangible asset advantages found in the industry.",
    "output": "[Cause] InterContinental and other large hotel brands require high amounts of human capital [Relation] enable [Effect] helps drive traveler experience and therefore is tied to brand intangible asset advantages found in the industry",
    "gold": "[Cause]  InterContinental and other large hotel brands require high amounts of human capital [Relation] enable [Effect] helps drive traveler experience and therefore is tied to brand intangible asset advantages found in the industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe sales from these additional lease-ups can grow about 10% annually from a low base, resulting in leasing segment revenue growing by about 2% annually while maintaining EBITDA margins of at least 98%.",
    "output": "[Cause] sales from these additional lease-ups can grow about 10% annually from a low base [Relation] cause [Effect] leasing segment revenue growing by about 2% annually while maintaining EBITDA margins of at least 98%",
    "gold": "[Cause]  sales from these additional lease-ups can grow about 10% annually from a low base [Relation] cause [Effect] leasing segment revenue growing by about 2% annually while maintaining EBITDA margins of at least 98%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, Rapiscan lost a TSA contract in 2013 after it failed to adapt in time to new requirements that called for body scanner images to reflect a cartoon-type image, but with threat areas still highlighted, to protect passenger privacy.",
    "output": "[Cause] threat areas still highlighted [Relation] enable [Effect] protect passenger privacy",
    "gold": "[Cause] new requirements that called for body scanner images to reflect a cartoon-type image [Relation] enable [Effect] protect passenger privacy",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Secular changes to behavior surrounding travel (and cruising in particular) as a result of the coronavirus are set to alter the economic performance of Norwegian Cruise Line Holdings over an extended horizon.",
    "output": "[Cause] Secular changes to behavior surrounding travel (and cruising in particular) as a result of the coronavirus [Relation] cause [Effect] alter the economic performance of Norwegian Cruise Line Holdings over an extended horizon",
    "gold": "[Cause] the coronavirus [Relation] cause [Effect] Secular changes to behavior surrounding travel",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Regarding switching costs, analog and MCUs tend to make up only a small portion of a product's bill of materials, so purchasing decisions tend to be based on performance rather than price, helping Microchip retain pricing power.",
    "output": "[Cause] analog and MCUs tend to make up only a small portion of a product's bill of materials [Relation] cause [Effect] purchasing decisions tend to be based on performance rather than price, helping Microchip retain pricing power",
    "gold": "[Cause]  analog and MCUs tend to make up only a small portion of a product's bill of materials [Relation] cause [Effect] purchasing decisions tend to be based on performance rather than price, helping Microchip retain pricing power",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A corollary of this is there is substantial demand for cheaper, lower-quality products, making the landscape more price competitive and brand integrity more difficult to maintain.",
    "output": "[Cause] there is substantial demand for cheaper, lower-quality products [Relation] cause [Effect] the landscape more price competitive and brand integrity more difficult to maintain",
    "gold": "[Cause] there is substantial demand for cheaper, lower-quality products [Relation] cause [Effect] the landscape more price competitive and brand integrity more difficult to maintain",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's growing maintenance contracts and increasing software portfolio will be the major growth drivers, and we anticipate that software in particular will grow very strongly, albeit from a small base.",
    "output": "[Cause] The firm's growing maintenance contracts and increasing software portfolio [Relation] enable [Effect] software in particular will grow very strongly",
    "gold": "[Cause] The firm's growing maintenance contracts and increasing software portfolio [Relation] cause [Effect] software in particular will grow very strongly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project $200 million-$300 million in dispositions annually at an average cap rate of 5.0% and $100 million-$500 million of acquisitions at 4.5% cap rates as the company looks to recycle lower-quality assets to fund the acquisition of higher-quality assets.",
    "output": "[Cause] the company looks to recycle lower-quality assets to fund the acquisition of higher-quality assets [Relation] cause [Effect] We project $200 million-$300 million in dispositions annually at an average cap rate of 5.0% and $100 million-$500 million of acquisitions at 4.5% cap rates",
    "gold": "[Cause] the company looks to recycle lower-quality assets to fund the acquisition of higher-quality assets [Relation] cause [Effect] We project $200 million-$300 million in dispositions annually at an average cap rate of 5.0% and $100 million-$500 million of acquisitions at 4.5% cap rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Erratic changes in input costs can weigh on profits; if Kellogg opts to raise prices to offset these pressures, volume may contract if consumers balk, especially during economic periods where consumers maintain a tighter grip on their purse strings.",
    "output": "[Cause] Erratic changes in input costs [Relation] cause [Effect] weigh on profits",
    "gold": "[Cause] consumers balk [Relation] cause [Effect] volume may contract",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the automotive part sector has performed relatively well thus far, unemployment and global lockdowns have slashed miles driven and slowed vehicle wear and tear.",
    "output": "[Cause] unemployment and global lockdowns [Relation] cause [Effect] slashed miles driven and slowed vehicle wear and tear",
    "gold": "[Cause] unemployment and global lockdowns [Relation] enable [Effect] slashed miles driven and slowed vehicle wear and tear",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Robert Half's experience and industry knowledge have created barriers to entry for local and regional recruiters in placing accounting and finance personnel, as it takes time and industry contacts to build out a database of candidates to pitch to prospective clients.",
    "output": "[Cause] it takes time and industry contacts to build out a database of candidates to pitch to prospective clients [Relation] cause [Effect] Robert Half's experience and industry knowledge have created barriers to entry for local and regional recruiters in placing accounting and finance personnel",
    "gold": "[Cause] it takes time and industry contacts to build out a database of candidates to pitch to prospective clients [Relation] cause [Effect] Robert Half's experience and industry knowledge have created barriers to entry for local and regional recruiters in placing accounting and finance personnel",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Switching to a different course workflow provider is difficult because it requires retraining professors and students to use a new tool, while testing bodies are reluctant to incur the cost of overhauling materials alongside a different partner.",
    "output": "[Cause] it requires retraining professors and students to use a new tool [Relation] cause [Effect] Switching to a different course workflow provider is difficult",
    "gold": "[Cause]  it requires retraining professors and students to use a new tool [Relation] cause [Effect] Switching to a different course workflow provider is difficult",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The projects are also attractive in that they are tied to long-term power purchase agreements, which result in steady revenue and cash flow.",
    "output": "[Cause] The projects are also attractive in that they are tied to long-term power purchase agreements [Relation] cause [Effect] steady revenue and cash flow",
    "gold": "[Cause] The projects are also attractive in that they are tied to long-term power purchase agreements [Relation] cause [Effect] steady revenue and cash flow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For instance, if a business decided to replace Paylocity's payroll solution with that of a different vendor, there could be a disruption in payroll services to the firm's employees that could impact critical services such as salaries and taxes.",
    "output": "[Cause] a disruption in payroll services to the firm's employees [Relation] cause [Effect] impact critical services such as salaries and taxes",
    "gold": "[Cause] a disruption in payroll services to the firm's employees [Relation] cause [Effect]  impact critical services such as salaries and taxes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect on-going flare-ups in mitigating the pandemic will support strong on-going demand for molecular SARS-CoV-2 tests until late calendar 2021, although we admit that demand could remain strong for longer than expected if the viral variants from Brazil or South Africa begin to spread in the U.S.",
    "output": "[Cause] the viral variants from Brazil or South Africa begin to spread in the U.S [Relation] cause [Effect] demand could remain strong for longer than expected",
    "gold": "[Cause] on-going flare-ups in mitigating the pandemic [Relation] cause [Effect] support strong on-going demand for molecular SARS-CoV-2 tests until late calendar 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect Marathon to extend its crude advantage, as a key element of its strategy is to integrate its refineries and invest in assets to increase throughput of advantaged feedstocks from Canada, the Permian, and the Bakken while investing in upgrading capability and conversion capacity.",
    "output": "[Cause] a key element of its strategy is to integrate its refineries and invest in assets to increase throughput of advantaged feedstocks from Canada, the Permian, and the Bakken while investing in upgrading capability and conversion capacity [Relation] cause [Effect] Marathon to extend its crude advantage",
    "gold": "[Cause]  a key element of its strategy is to integrate its refineries and invest in assets to increase throughput of advantaged feedstocks from Canada, the Permian, and the Bakken while investing in upgrading capability and conversion capacity [Relation] cause [Effect] Marathon to extend its crude advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We now expect Dexcom to reach operating margin of 25.5% by 2025 thanks to the rollout of G7, which should be considerably less expensive to manufacture.",
    "output": "[Cause] the rollout of G7 [Relation] enable [Effect] Dexcom to reach operating margin of 25.5% by 2025",
    "gold": "[Cause]  the rollout of G7 [Relation] cause [Effect] Dexcom to reach operating margin of 25.5% by 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We now expect Dexcom to reach operating margin of 25.5% by 2025 thanks to the rollout of G7, which should be considerably less expensive to manufacture.",
    "output": "[Cause] the rollout of G7 [Relation] enable [Effect] Dexcom to reach operating margin of 25.5% by 2025",
    "gold": "[Cause] Dexcom to reach operating margin of 25.5% by 2025 [Relation] cause [Effect] considerably less expensive to manufacture",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Santander did provision proactively for credit losses, and the coverage ratio is still high, but with NPL formation not slowing down, coverage is decreasing.",
    "output": "[Cause] provision proactively for credit losses [Relation] cause [Effect] the coverage ratio is still high",
    "gold": "[Cause] provision proactively for credit losses [Relation] enable [Effect] the coverage ratio is still high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Santander did provision proactively for credit losses, and the coverage ratio is still high, but with NPL formation not slowing down, coverage is decreasing.",
    "output": "[Cause] NPL formation not slowing down [Relation] cause [Effect] coverage is decreasing",
    "gold": "[Cause] NPL formation not slowing down [Relation] cause [Effect] coverage is decreasing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This sustained level of R&amp;D spending also allows Ametek to take price greater than inflation (positive price inflation spread typically hovers in the 20- to 30-basis-point range), which is somewhat exceptional.",
    "output": "[Cause] This sustained level of R&amp;D spending also allows Ametek to take price greater than inflation (positive price inflation spread typically hovers in the 20- to 30-basis-point range) [Relation] enable [Effect] which is somewhat exceptional",
    "gold": "[Cause] This sustained level of R&amp;D spending [Relation] enable [Effect] Ametek to take price greater than inflation (positive price inflation spread typically hovers in the 20- to 30-basis-point range)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The membership structure enables Costco to price merchandise aggressively, shifting the focus from optimizing per-unit margins to driving member growth and retention.",
    "output": "[Cause] The membership structure [Relation] enable [Effect] Costco to price merchandise aggressively",
    "gold": "[Cause] The membership structure [Relation] enable [Effect] Costco to price merchandise aggressively",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The membership structure enables Costco to price merchandise aggressively, shifting the focus from optimizing per-unit margins to driving member growth and retention.",
    "output": "[Cause] The membership structure [Relation] enable [Effect] Costco to price merchandise aggressively",
    "gold": "[Cause] The membership structure [Relation] cause [Effect] shifting the focus from optimizing per-unit margins to driving member growth and retention",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We're also intrigued by Starbucks' partnership with retail technology company Brightloom, which will develop new digital flywheel and in-store experience technology solutions for Starbucks' licensed partners outside the U.S.",
    "output": "[Cause] Starbucks' partnership with retail technology company Brightloom [Relation] enable [Effect] develop new digital flywheel and in-store experience technology solutions for Starbucks' licensed partners outside the U.S",
    "gold": "[Cause] which will develop new digital flywheel and in-store experience technology solutions for Starbucks' licensed partners outside the U.S [Relation] cause [Effect] intrigued by Starbucks' partnership with retail technology company Brightloom",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, the industry has seen a trend of consolidation, and as large players expand their offerings via inorganic investments, Coupa faces more pressure in maintaining its leadership position.",
    "output": "[Cause] large players expand their offerings via inorganic investments [Relation] cause [Effect] Coupa faces more pressure in maintaining its leadership position",
    "gold": "[Cause] large players expand their offerings via inorganic investments [Relation] cause [Effect] Coupa faces more pressure in maintaining its leadership position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Pipeline operators will enter into long-term contracts with shippers to recover the project's construction and development costs, in exchange for a reasonable tariff that allows a shipper to capture a profitable differential, and capacity will be added until it is no longer profitable to do so.",
    "output": "[Cause] a reasonable tariff that allows a shipper to capture a profitable differential, and capacity will be added until it is no longer profitable to do so [Relation] enable [Effect] Pipeline operators will enter into long-term contracts with shippers to recover the project's construction and development costs",
    "gold": "[Cause]  a reasonable tariff that allows a shipper to capture a profitable differential, and capacity will be added until it is no longer profitable to do so [Relation] enable [Effect] Pipeline operators will enter into long-term contracts with shippers to recover the project's construction and development costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nutrien is also investing in its online retail platform, which should generate sales growth as a greater proportion of farm retail sales move online.",
    "output": "[Cause] Nutrien is also investing in its online retail platform [Relation] enable [Effect] generate sales growth as a greater proportion of farm retail sales move online",
    "gold": "[Cause] a greater proportion of farm retail sales move online [Relation] cause [Effect] Nutrien is also investing in its online retail platform, which should generate sales growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, we believe Marvell has improved on its own flagging Armada line by adopting Cavium's higher-performance Octeon chips, allowing customers to scale across more price points.",
    "output": "[Cause] adopting Cavium's higher-performance Octeon chips [Relation] enable [Effect] improved on its own flagging Armada line",
    "gold": "[Cause] adopting Cavium's higher-performance Octeon chips [Relation] enable [Effect] improved on its own flagging Armada line",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, we believe Marvell has improved on its own flagging Armada line by adopting Cavium's higher-performance Octeon chips, allowing customers to scale across more price points.",
    "output": "[Cause] adopting Cavium's higher-performance Octeon chips [Relation] enable [Effect] customers to scale across more price points",
    "gold": "[Cause] improved on its own flagging Armada line [Relation] enable [Effect] customers to scale across more price points",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Ralph Lauren continues to operate a few lesser brands, including its low-priced Chaps and fast-fashion Club Monaco brands, which could lead to brand degradation if improperly managed.",
    "output": "[Cause] improperly managed [Relation] cause [Effect] brand degradation",
    "gold": "[Cause] improperly managed. | Ralph Lauren continues to operate a few lesser brands, [Relation] cause [Effect]  lead to brand degradation",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the long term, more of Aphria's sales will come from the international medical market, driving higher average realized prices despite mild increases in Canada.",
    "output": "[Cause] more of Aphria's sales will come from the international medical market [Relation] cause [Effect] higher average realized prices",
    "gold": "[Cause] more of Aphria's sales will come from the international medical market [Relation] enable [Effect]  higher average realized prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This below-consensus outlook will drive margin contraction, as the impact of the company's restructuring efforts have been dwarfed by the impact of new, low-cost capacity being brought on line in China.",
    "output": "[Cause] the impact of the company's restructuring efforts have been dwarfed by the impact of new, low-cost capacity being brought on line in China [Relation] cause [Effect] This below-consensus outlook will drive margin contraction",
    "gold": "[Cause] the impact of the company's restructuring efforts have been dwarfed by the impact of new, low-cost capacity being brought on line in China [Relation] cause [Effect] This below-consensus outlook will drive margin contraction",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These kinds of agreements demand no incremental investment from Coke (and very little from its bottlers), leading to high-margin revenue streams that are accretive to the firm's economic profits.",
    "output": "[Cause] high-margin revenue streams [Relation] enable [Effect] accretive to the firm's economic profits",
    "gold": "[Cause] high-margin revenue streams [Relation] enable [Effect] accretive to the firm's economic profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given its healthy balance sheet and strong cash flows, Graco has ample liquidity to continue funding its R&amp;D even during an economic downturn, and we believe that its commitment to innovation will make it difficult for rivals to undermine Graco's competitive position.",
    "output": "[Cause] its healthy balance sheet and strong cash flows [Relation] enable [Effect] Graco has ample liquidity to continue funding its R&amp;D even during an economic downturn",
    "gold": "[Cause] its healthy balance sheet and strong cash flows [Relation] cause [Effect] Graco has ample liquidity to continue funding its R&amp;D even during an economic downturn",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Increased user base and time spent on Weibo has in turn attracted more key opinion leaders and multi-channel networks (entities that affiliate with multiple Weibo channels that assist in operations and monetization) to distribute their content on Weibo, which in return is helping to improve and lengthen user experiences.",
    "output": "[Cause] Increased user base and time spent on Weibo [Relation] enable [Effect] attracted more key opinion leaders and multi-channel networks (entities that affiliate with multiple Weibo channels that assist in operations and monetization) to distribute their content on Weibo",
    "gold": "[Cause] Increased user base and time spent on Weibo [Relation] cause [Effect] attracted more key opinion leaders and multi-channel networks (entities that affiliate with multiple Weibo channels that assist in operations and monetization) to distribute their content on Weibo",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Increased user base and time spent on Weibo has in turn attracted more key opinion leaders and multi-channel networks (entities that affiliate with multiple Weibo channels that assist in operations and monetization) to distribute their content on Weibo, which in return is helping to improve and lengthen user experiences.",
    "output": "[Cause] Increased user base and time spent on Weibo [Relation] enable [Effect] improve and lengthen user experiences",
    "gold": "[Cause] attracted more key opinion leaders and multi-channel networks (entities that affiliate with multiple Weibo channels that assist in operations and monetization) to distribute their content on Weibo [Relation] enable [Effect] improve and lengthen user experiences",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For 2021, we expect gross revenue to surge 30% on robust demand and much higher sell rates to shippers, including solid contract rate gains.",
    "output": "[Cause] robust demand and much higher sell rates to shippers, including solid contract rate gains [Relation] cause [Effect] gross revenue to surge 30%",
    "gold": "[Cause] robust demand and much higher sell rates to shippers, including solid contract rate gains [Relation] cause [Effect] gross revenue to surge 30%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "CP has posted excellent margin gains in recent years, especially in 2020, as it rightsized head count and assets to demand levels.",
    "output": "[Cause] it rightsized head count and assets to demand levels [Relation] cause [Effect] CP has posted excellent margin gains in recent years, especially in 2020",
    "gold": "[Cause] it rightsized head count and assets to demand levels [Relation] cause [Effect] CP has posted excellent margin gains in recent years, especially in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the uncertainty caused by the current pandemic and our belief that B2B clients will mostly keep costs under control, we expect the EUR 2 billion threshold for the unit to materialize in 2023.",
    "output": "[Cause] the uncertainty caused by the current pandemic and our belief that B2B clients will mostly keep costs under control [Relation] cause [Effect] the EUR 2 billion threshold for the unit to materialize in 2023",
    "gold": "[Cause] Given the uncertainty caused by the current pandemic [Relation] cause [Effect]  the EUR 2 billion threshold for the unit to materialize in 2023",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In order to develop more advanced products and/or reach superior economies of scale, these smaller competitors occasionally establish joint ventures or purchase even smaller peers to gain additional capacity at attractive prices.",
    "output": "[Cause] develop more advanced products and/or reach superior economies of scale [Relation] cause [Effect] these smaller competitors occasionally establish joint ventures or purchase even smaller peers",
    "gold": "[Cause]  these smaller competitors occasionally establish joint ventures or purchase even smaller peers [Relation] enable [Effect]  gain additional capacity at attractive prices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In order to develop more advanced products and/or reach superior economies of scale, these smaller competitors occasionally establish joint ventures or purchase even smaller peers to gain additional capacity at attractive prices.",
    "output": "[Cause] gain additional capacity at attractive prices [Relation] cause [Effect] these smaller competitors occasionally establish joint ventures or purchase even smaller peers",
    "gold": "[Cause]  gain additional capacity at attractive prices [Relation] enable [Effect]  develop more advanced products and/or reach superior economies of scale",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nutrien's potash mines are located in Canada and sit on the low end of the global cost curve due to favorable geological.",
    "output": "[Cause] favorable geological [Relation] cause [Effect] Nutrien's potash mines are located in Canada and sit on the low end of the global cost curve",
    "gold": "[Cause] favorable geological [Relation] cause [Effect] Nutrien's potash mines are located in Canada and sit on the low end of the global cost curve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As in past tightening cycles, the company's unmatched truckload capacity access has proved quite valuable over the past year given highly constrained truckload capacity rooted in robust demand and the limited driver pool, which restricts truckers' fleet growth.",
    "output": "[Cause] highly constrained truckload capacity rooted in robust demand and the limited driver pool [Relation] prevent [Effect] truckers' fleet growth",
    "gold": "[Cause]  robust demand and the limited driver pool [Relation] cause [Effect]  highly constrained truckload capacity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The early signs of trouble for its subprime portfolio also prompted HSBC to review and manage down its exposure and carry out a review across its global operation prior to the onset to the global financial crisis.",
    "output": "[Cause] The early signs of trouble for its subprime portfolio [Relation] cause [Effect] HSBC to review and manage down its exposure",
    "gold": "[Cause] The early signs of trouble for its subprime portfolio [Relation] cause [Effect]  HSBC to review and manage down its exposure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Demand for these types of assets will remain strong as patients seek the best treatments from to the top health systems, driving consistent patient volumes to their affiliated assets and thus increasing the rents that can be charged to doctor's groups that want to service these patients.",
    "output": "[Cause] Demand for these types of assets will remain strong [Relation] cause [Effect] driving consistent patient volumes to their affiliated assets",
    "gold": "[Cause]  patients seek the best treatments from to the top health systems [Relation] cause [Effect] increasing the rents that can be charged to doctor's groups that want to service these patients",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Demand for these types of assets will remain strong as patients seek the best treatments from to the top health systems, driving consistent patient volumes to their affiliated assets and thus increasing the rents that can be charged to doctor's groups that want to service these patients.",
    "output": "[Cause] Demand for these types of assets will remain strong [Relation] cause [Effect] increasing the rents that can be charged to doctor's groups that want to service these patients",
    "gold": "[Cause] Demand for these types of assets will remain strong [Relation] enable [Effect] consistent patient volumes to their affiliated assets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our inventory as a percentage of homebuilding revenue assumptions reflect our belief that while Toll Brothers will try to improve its inventory efficiency where possible, its luxury strategy will continue to result in higher inventory/home sales ratios relative to other public homebuilders.",
    "output": "[Cause] its luxury strategy [Relation] cause [Effect] higher inventory/home sales ratios relative to other public homebuilders",
    "gold": "[Cause]  its luxury strategy [Relation] cause [Effect] higher inventory/home sales ratios relative to other public homebuilders",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that other market participants, like Dell, Lenovo, and Huawei will aggressively compete on cost which may impact HPE's most important revenue source.",
    "output": "[Cause] other market participants, like Dell, Lenovo, and Huawei will aggressively compete on cost [Relation] cause [Effect] impact HPE's most important revenue source",
    "gold": "[Cause] other market participants, like Dell, Lenovo, and Huawei will aggressively compete on cost [Relation] cause [Effect] impact HPE's most important revenue source",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Partnership agreements last seven to 10 years and switching costs for fully ramped programs are high since an institution would have to either reabsorb noncore functions such as recruiting and technological infrastructure development or find another provider, enduring significant disruption.",
    "output": "[Cause] an institution would have to either reabsorb noncore functions such as recruiting and technological infrastructure development or find another provider, enduring significant disruption [Relation] cause [Effect] Partnership agreements last seven to 10 years and switching costs for fully ramped programs are high",
    "gold": "[Cause] switching costs for fully ramped programs are high [Relation] prevent [Effect] enduring significant disruption",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Macy's also revealed that 40% of these top customers drop down into lower segments on an annual basis, suggesting its most important customers are not particularly loyal.",
    "output": "[Cause] 40% of these top customers drop down into lower segments on an annual basis [Relation] cause [Effect] suggesting its most important customers are not particularly loyal",
    "gold": "[Cause]  its most important customers are not particularly loyal [Relation] cause [Effect] Macy's also revealed that 40% of these top customers drop down into lower segments on an annual basis",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over the years, XPO has successfully integrated its acquisitions, often outperforming our profitability expectations, especially for its LTL trucking division.",
    "output": "[Cause] XPO has successfully integrated its acquisitions [Relation] enable [Effect] often outperforming our profitability expectations",
    "gold": "[Cause]  its LTL trucking division [Relation] enable [Effect] outperforming our profitability expectations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, the majority of Archer Daniels Midland's products are commodities where the company does not benefit from any particular moat source. As such, we do not have a high degree of confidence that the company as a whole will be able to outearn its cost of capital over the next decade.",
    "output": "[Cause] the majority of Archer Daniels Midland's products are commodities where the company does not benefit from any particular moat source [Relation] cause [Effect] we do not have a high degree of confidence that the company as a whole will be able to outearn its cost of capital over the next decade",
    "gold": "[Cause] the majority of Archer Daniels Midland's products are commodities where the company does not benefit from any particular moat source [Relation] cause [Effect] we do not have a high degree of confidence that the company as a whole will be able to outearn its cost of capital over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe much of the TAL Education market share gained was mainly attributes to an early mover advantage for TAL Education Group for the online investment started in 2011.",
    "output": "[Cause] an early mover advantage for TAL Education Group for the online investment started in 2011 [Relation] cause [Effect] much of the TAL Education market share gained",
    "gold": "[Cause]  an early mover advantage for TAL Education Group for the online investment started in 2011 [Relation] enable [Effect] much of the TAL Education market share gained",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we forecast a decline to less than 1% in fiscal 2021 due to the virus, we forecast Ralph Lauren's adjusted ROIC including goodwill to average 19% in fiscal 2022-30, well above our estimated weighted average cost of capital for the company of 10%.",
    "output": "[Cause] the virus [Relation] cause [Effect] a decline to less than 1% in fiscal 2021",
    "gold": "[Cause]  the virus [Relation] cause [Effect] a decline to less than 1% in fiscal 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "PVH, like all international apparel manufacturers and retailers, faced a huge challenge with the COVID-19 crisis as stores all over the world have had to restrict access or temporarily close.",
    "output": "[Cause] stores all over the world have had to restrict access or temporarily close [Relation] cause [Effect] PVH, like all international apparel manufacturers and retailers, faced a huge challenge with the COVID-19 crisis",
    "gold": "[Cause]  stores all over the world have had to restrict access or temporarily close [Relation] cause [Effect] PVH, like all international apparel manufacturers and retailers, faced a huge challenge with the COVID-19 crisis",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because Corning's sales double that of its closest competitor, AGC, it is able to spread its fixed costs over a larger volume, resulting in an enduring lower average cost per glass substrate.",
    "output": "[Cause] Corning's sales double that of its closest competitor, AGC [Relation] cause [Effect] it is able to spread its fixed costs over a larger volume",
    "gold": "[Cause]  it is able to spread its fixed costs over a larger volume [Relation] enable [Effect] an enduring lower average cost per glass substrate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because Corning's sales double that of its closest competitor, AGC, it is able to spread its fixed costs over a larger volume, resulting in an enduring lower average cost per glass substrate.",
    "output": "[Cause] Corning's sales double that of its closest competitor, AGC [Relation] cause [Effect] an enduring lower average cost per glass substrate",
    "gold": "[Cause] Corning's sales double that of its closest competitor, AGC [Relation] enable [Effect]  it is able to spread its fixed costs over a larger volume",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As with other chemical companies, Eastman's business model is subject to a high degree of operating leverage, as changes in volumes can have an outsize impact on profits.",
    "output": "[Cause] changes in volumes can have an outsize impact on profits [Relation] cause [Effect] Eastman's business model is subject to a high degree of operating leverage",
    "gold": "[Cause] changes in volumes [Relation] cause [Effect] have an outsize impact on profits.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the new phase of banking we are entering, where technological changes are occurring faster and are more impactful than ever before and can be deployed across singular, integrated platforms, we see only more advantages for the largest banks when it comes to operating efficiency in the future.",
    "output": "[Cause] the new phase of banking we are entering, where technological changes are occurring faster and are more impactful than ever before and can be deployed across singular, integrated platforms [Relation] cause [Effect] we see only more advantages for the largest banks when it comes to operating efficiency in the future",
    "gold": "[Cause] the new phase of banking we are entering, where technological changes are occurring faster and are more impactful than ever before and can be deployed across singular, integrated platforms [Relation] cause [Effect] we see only more advantages for the largest banks when it comes to operating efficiency in the future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the need to persuade businesses to share sensitive employee income data, we believe this business benefits from a first-mover advantage that allowed it to amass a sizable number of records.",
    "output": "[Cause] the need to persuade businesses to share sensitive employee income data [Relation] cause [Effect] this business benefits from a first-mover advantage that allowed it to amass a sizable number of records",
    "gold": "[Cause] this business benefits from a first-mover advantage [Relation] enable [Effect] it to amass a sizable number of records",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect TAL Education Group's margins should improve from fiscal 2022 despite a slower-than-expected recovery, given that we expect business to normalize as China restores normal business practice with less COVID-19 impact.",
    "output": "[Cause] China restores normal business practice with less COVID-19 impact [Relation] cause [Effect] business to normalize",
    "gold": "[Cause]  business to normalize as China restores normal business practice with less COVID-19 impact [Relation] enable [Effect] TAL Education Group's margins should improve from fiscal 2022",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the rise of advanced 4G- and 5G-enabled smartphones, which use a wider variety of wireless spectrum and frequency bands than in prior generations of networks, RF content per phone has grown exponentially in recent years, lifting Skyworks and its RF competitors.",
    "output": "[Cause] the rise of advanced 4G- and 5G-enabled smartphones [Relation] cause [Effect] lifting Skyworks and its RF competitors",
    "gold": "[Cause] the rise of advanced 4G- and 5G-enabled smartphones [Relation] enable [Effect] lifting Skyworks and its RF competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the rise of advanced 4G- and 5G-enabled smartphones, which use a wider variety of wireless spectrum and frequency bands than in prior generations of networks, RF content per phone has grown exponentially in recent years, lifting Skyworks and its RF competitors.",
    "output": "[Cause] RF content per phone has grown exponentially in recent years [Relation] enable [Effect] lifting Skyworks and its RF competitors",
    "gold": "[Cause] a wider variety of wireless spectrum and frequency bands than in prior generations of networks | RF content per phone has grown exponentially in recent years [Relation] enable [Effect] lifting Skyworks and its RF competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Spotify can benefit from various network effects that will help the firm increase its users and amass valuable intangible assets associated with user data and listening preferences.",
    "output": "[Cause] Spotify can benefit from various network effects [Relation] enable [Effect] the firm increase its users and amass valuable intangible assets associated with user data and listening preferences",
    "gold": "[Cause] Spotify can benefit from various network effects [Relation] enable [Effect] the firm increase its users and amass valuable intangible assets associated with user data and listening preferences",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the satellite television business will continue to lose customers at a steady clip over the next five years, with average revenue per customer also drifting lower as Dish increasingly prices against online competitors.",
    "output": "[Cause] Dish increasingly prices against online competitors [Relation] cause [Effect] average revenue per customer also drifting lower",
    "gold": "[Cause] average revenue per customer also drifting lower as Dish increasingly prices against online competitors [Relation] cause [Effect] the satellite television business will continue to lose customers at a steady clip over the next five years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect the satellite television business will continue to lose customers at a steady clip over the next five years, with average revenue per customer also drifting lower as Dish increasingly prices against online competitors.",
    "output": "[Cause] average revenue per customer also drifting lower [Relation] cause [Effect] the satellite television business will continue to lose customers at a steady clip over the next five years",
    "gold": "[Cause] Dish increasingly prices against online competitors [Relation] cause [Effect] average revenue per customer also drifting lower",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe MercadoLibre can withstand competition through mobile, payment, shipping, and loyalty solutions, each of which should attract merchants looking to expand in Latin America.",
    "output": "[Cause] MercadoLibre can withstand competition through mobile, payment, shipping, and loyalty solutions [Relation] enable [Effect] each of which should attract merchants looking to expand in Latin America",
    "gold": "[Cause]  each of which should attract merchants looking to expand in Latin America [Relation] enable [Effect] MercadoLibre can withstand competition through mobile, payment, shipping, and loyalty solutions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the patent protection of 510(k) and de novo clearance can be less comprehensive than alternatives such as premarket notification, which require human trials, time to market is shortened, and this strategy allows Teleflex to keep research and development costs lower than peers.",
    "output": "[Cause] time to market is shortened [Relation] enable [Effect] Teleflex to keep research and development costs lower than peers",
    "gold": "[Cause] time to market is shortened [Relation] enable [Effect] Teleflex to keep research and development costs lower than peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sysco can generally pass through food inflation that ranges from 1% to 3%, but when inflation exceeds this level, Sysco can typically not pass it through all at once and will likely take a loss on the item.",
    "output": "[Cause] inflation exceeds this level [Relation] cause [Effect] Sysco can typically not pass it through all at once and will likely take a loss on the item",
    "gold": "[Cause]  inflation exceeds this level [Relation] cause [Effect]  Sysco can typically not pass it through all at once and will likely take a loss on the item",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Switzerland is one of the world's most stable democracies and its devolved, cantonal system of government limits the potential of populist extremist parties.",
    "output": "[Cause] its devolved, cantonal system of government [Relation] prevent [Effect] the potential of populist extremist parties",
    "gold": "[Cause]  its devolved, cantonal system of government [Relation] prevent [Effect]  the potential of populist extremist parties",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Notably, at its nadir in 2009, post-financial crisis, Rockwell's ROICs including goodwill only dipped to just over 16%, or just over 750 basis points above our estimated cost of capital, even though its performance is highly correlated to global industrial production, which was severely hampered from the crisis. As such, we believe it's more likely than not Rockwell can continue to out-earn its cost of capital over the next 20 years.",
    "output": "[Cause] Rockwell's ROICs including goodwill only dipped to just over 16%, or just over 750 basis points above our estimated cost of capital, even though its performance is highly correlated to global industrial production, which was severely hampered from the crisis [Relation] cause [Effect] it's more likely than not Rockwell can continue to out-earn its cost of capital over the next 20 years",
    "gold": "[Cause] Rockwell's ROICs including goodwill only dipped to just over 16%, or just over 750 basis points above our estimated cost of capital, even though its performance is highly correlated to global industrial production, which was severely hampered from the crisis [Relation] cause [Effect]  it's more likely than not Rockwell can continue to out-earn its cost of capital over the next 20 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our confidence in the reduction is due to Cognizant's restructuring of its organizational layers in its 2020 Fit for Growth plan.",
    "output": "[Cause] Cognizant's restructuring of its organizational layers in its 2020 Fit for Growth plan [Relation] cause [Effect] Our confidence in the reduction",
    "gold": "[Cause] Cognizant's restructuring of its organizational layers in its 2020 Fit for Growth plan [Relation] cause [Effect] Our confidence in the reduction",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Economic weakness in the eurozone presents another source of uncertainty, since Europe accounts for a little over a tenth of revenue.",
    "output": "[Cause] Europe accounts for a little over a tenth of revenue [Relation] cause [Effect] Economic weakness in the eurozone presents another source of uncertainty",
    "gold": "[Cause]  Europe accounts for a little over a tenth of revenue [Relation] cause [Effect] Economic weakness in the eurozone presents another source of uncertainty",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2018, Travelport told us that Google's platform had not seen global airline adoption because of high costs, which we think are compounded by anti-competitive and regulation concerns.",
    "output": "[Cause] high costs [Relation] cause [Effect] Google's platform had not seen global airline adoption",
    "gold": "[Cause] high costs [Relation] cause [Effect] Google's platform had not seen global airline adoption",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the company believes its catastrophe and supercatastrophe underwriting can generate solid long-term results, the volatility of these business lines, which have the potential to subject the firm to especially large losses, tends to be high.",
    "output": "[Cause] the volatility of these business lines [Relation] cause [Effect] subject the firm to especially large losses",
    "gold": "[Cause] the volatility of these business lines |  tends to be high [Relation] cause [Effect] the potential to subject the firm to especially large losses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "On the client front, Anthem's launch of its IngenioRx pharmacy benefit management platform should help it provide a more holistic view of a patient's health, which could lead to better cost controls and management of health conditions.",
    "output": "[Cause] Anthem's launch of its IngenioRx pharmacy benefit management platform [Relation] enable [Effect] provide a more holistic view of a patient's health",
    "gold": "[Cause] Anthem's launch of its IngenioRx pharmacy benefit management platform [Relation] cause [Effect] provide a more holistic view of a patient's health",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the client front, Anthem's launch of its IngenioRx pharmacy benefit management platform should help it provide a more holistic view of a patient's health, which could lead to better cost controls and management of health conditions.",
    "output": "[Cause] Anthem's launch of its IngenioRx pharmacy benefit management platform [Relation] enable [Effect] provide a more holistic view of a patient's health",
    "gold": "[Cause] provide a more holistic view of a patient's health [Relation] enable [Effect] better cost controls and management of health conditions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This database provides the basis for the marquee law research offering on the market, Westlaw Edge, and integration with the West Key Number System helps professionals find the research they need, quickly and accurately.",
    "output": "[Cause] This database provides the basis for the marquee law research offering on the market, Westlaw Edge, and integration with the West Key Number System [Relation] enable [Effect] professionals find the research they need, quickly and accurately",
    "gold": "[Cause] This database provides the basis for the marquee law research offering on the market, Westlaw Edge, and integration with the West Key Number System [Relation] enable [Effect]  professionals find the research they need, quickly and accurately",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Combined with its leadership in process technology, TSMC can readily justify hefty investments in new process nodes by convincing customers to share detailed roadmaps, while smaller foundries have to build facilities first and wait for orders that TSMC cannot fill.",
    "output": "[Cause] Combined with its leadership in process technology [Relation] enable [Effect] TSMC can readily justify hefty investments in new process nodes by convincing customers to share detailed roadmaps",
    "gold": "[Cause] Combined with its leadership in process technology [Relation] enable [Effect] TSMC can readily justify hefty investments in new process nodes by convincing customers to share detailed roadmaps",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Supporting its market leadership, it's demonstrated an ability to meet evolving customer preferences, bringing new products to market quickly, with four new models and 30-40 new features rolled out annually in the performance sport segment.",
    "output": "[Cause] support its market leadership [Relation] enable [Effect] it's demonstrated an ability to meet evolving customer preferences, bringing new products to market quickly, with four new models and 30-40 new features rolled out annually in the performance sport segment",
    "gold": "[Cause] an ability to meet evolving customer preferences, bringing new products to market quickly, with four new models and 30-40 new features rolled out annually in the performance sport segment [Relation] enable [Effect] Supporting its market leadership",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "It operates in a rational oligopoly with 70% of the market controlled by five global OEMs, of which it is the largest. This adds a level of pricing stability in most markets, although the Chinese market, where it has 16% of revenue exposure, has more fragmented competition and greater pricing pressure.",
    "output": "[Cause] It operates in a rational oligopoly with 70% of the market controlled by five global OEMs, of which it is the largest [Relation] cause [Effect] adds a level of pricing stability in most markets, although the Chinese market, where it has 16% of revenue exposure, has more fragmented competition and greater pricing pressure",
    "gold": "[Cause] It operates in a rational oligopoly with 70% of the market controlled by five global OEMs, of which it is the largest [Relation] cause [Effect] adds a level of pricing stability in most markets, although the Chinese market, where it has 16% of revenue exposure, has more fragmented competition and greater pricing pressure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The full divestment of Covestro for over EUR 10 billion eliminated over EUR 5 billion of invested capital (just under 10% of Bayer's total) that was not likely to earn excess returns.",
    "output": "[Cause] The full divestment of Covestro for over EUR 10 billion [Relation] prevent [Effect] over EUR 5 billion of invested capital (just under 10% of Bayer's total) that was not likely to earn excess returns",
    "gold": "[Cause] The full divestment of Covestro for over EUR 10 billion [Relation] cause [Effect] eliminated over EUR 5 billion of invested capital",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further sluggishness at the start of fiscal 2020 and the COVID-19 pandemic caused revenue to fall another 5% in fiscal 2020.We anticipate a snap back in chip orders with revenue rising 14% in fiscal 2021, 7% in fiscal 2022 and growing at an average midcycle rate of 6% thereafter.",
    "output": "[Cause] Further sluggishness at the start of fiscal 2020 and the COVID-19 pandemic [Relation] cause [Effect] revenue to fall another 5% in fiscal 2020",
    "gold": "[Cause] Further sluggishness at the start of fiscal 2020 and the COVID-19 pandemic [Relation] cause [Effect] revenue to fall another 5% in fiscal 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As businesses have grown and operations have become increasingly disparate and complex, they have run into the issue of aggregating data in a timely and effective manner to help drive insights, flag potential issues, and monitor system/application performance.",
    "output": "[Cause] businesses have grown and operations have become increasingly disparate and complex [Relation] cause [Effect] they have run into the issue of aggregating data in a timely and effective manner to help drive insights, flag potential issues, and monitor system/application performance",
    "gold": "[Cause] they have run into the issue of aggregating data in a timely and effective manner [Relation] enable [Effect] drive insights, flag potential issues, and monitor system/application performance",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect lower refined products demand, weaker crude volumes, to be somewhat offset by expense savings and storage benefits to result in distributable cash flow about $175 million lower than management's original 2020 guidance of $1.2 billion.",
    "output": "[Cause] lower refined products demand, weaker crude volumes, to be somewhat offset by expense savings and storage benefits [Relation] cause [Effect] distributable cash flow about $175 million lower than management's original 2020 guidance of $1.2 billion",
    "gold": "[Cause] lower refined products demand, weaker crude volumes, to be somewhat offset by expense savings and storage benefits [Relation] cause [Effect] distributable cash flow about $175 million lower than management's original 2020 guidance of $1.2 billion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the inherent scalability in the asset-light business model, we expect operating margins to improve over time as general and administrative, marketing, and technology and development costs decrease as a percentage of revenue.",
    "output": "[Cause] the inherent scalability in the asset-light business model [Relation] cause [Effect] operating margins to improve over time as general and administrative, marketing, and technology and development costs decrease as a percentage of revenue",
    "gold": "[Cause]  the inherent scalability in the asset-light business model [Relation] cause [Effect] operating margins to improve over time as general and administrative, marketing, and technology and development costs decrease as a percentage of revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For 2021, we expect total revenue to rise in the low teens as heightened retailer restocking drives strong demand across all segments throughout the first half, and as intermodal network inefficiencies subside.",
    "output": "[Cause] heightened retailer restocking drives strong demand across all segments throughout the first half, and as intermodal network inefficiencies subside [Relation] cause [Effect] total revenue to rise in the low teens",
    "gold": "[Cause] heightened retailer restocking [Relation] enable [Effect] drives strong demand across all segments throughout the first half, and as intermodal network inefficiencies subside",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "It is possible that when commodity costs rise, margins could be squeezed if the retail environment remains deflationary, but past cycles suggest that RB and its competitors will be able to pass through commodity cost inflation to consumers.",
    "output": "[Cause] the retail environment remains deflationary [Relation] cause [Effect] margins could be squeezed",
    "gold": "[Cause] the retail environment remains deflationary [Relation] cause [Effect] margins could be squeezed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Macerich's malls are located in densely populated, high-income submarkets that support high foot traffic and high sales for tenants, we are concerned about a change in consumer behavior that may reduce the impact of the network effect.",
    "output": "[Cause] a change in consumer behavior [Relation] cause [Effect] reduce the impact of the network effect",
    "gold": "[Cause] a change in consumer behavior [Relation] cause [Effect]  reduce the impact of the network effect",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Annual contractual price reductions are the industry norm, so Aptiv has to aggressively employ kaizen, kanban, and Six Sigma lean manufacturing practices, among others, to advance cost savings.",
    "output": "[Cause] Annual contractual price reductions are the industry norm [Relation] cause [Effect] Aptiv has to aggressively employ kaizen, kanban, and Six Sigma lean manufacturing practices, among others, to advance cost savings",
    "gold": "[Cause] Annual contractual price reductions are the industry norm [Relation] enable [Effect] Aptiv has to aggressively employ kaizen, kanban, and Six Sigma lean manufacturing practices, among others, to advance cost savings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To justify the significant up-front costs of a cutting-edge ASIC or ASSP, there needs to be a significant boost in performance.",
    "output": "[Cause] a significant boost in performance [Relation] enable [Effect] justify the significant up-front costs of a cutting-edge ASIC or ASSP",
    "gold": "[Cause] To justify the significant up-front costs of a cutting-edge ASIC or ASSP [Relation] cause [Effect]  there needs to be a significant boost in performance",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If siRNA reaches its intended target, it can silence the gene that it contains code for, making it a potentially game-changing technology for tough-to-treat diseases caused by genetic mutations.",
    "output": "[Cause] siRNA reaches its intended target, it can silence the gene that it contains code for [Relation] enable [Effect] making it a potentially game-changing technology for tough-to-treat diseases caused by genetic mutations",
    "gold": "[Cause] siRNA reaches its intended target [Relation] enable [Effect] it can silence the gene that it contains code for, making it a potentially game-changing technology",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company does not believe e-commerce hurts its profitability as it claims its contribution margins from Nordstrom.com sales are like those of sales through its physical stores.",
    "output": "[Cause] it claims its contribution margins from Nordstrom.com sales are like those of sales through its physical stores [Relation] cause [Effect] The company does not believe e-commerce hurts its profitability",
    "gold": "[Cause] it claims its contribution margins from Nordstrom.com sales are like those of sales through its physical stores [Relation] cause [Effect] The company does not believe e-commerce hurts its profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "One of the key takeaways from this event for investors in Hannover has been the reduction in its exposure because of efficient use of retrocession.",
    "output": "[Cause] efficient use of retrocession [Relation] cause [Effect] One of the key takeaways from this event for investors in Hannover has been the reduction in its exposure",
    "gold": "[Cause] efficient use of retrocession [Relation] enable [Effect] One of the key takeaways from this event for investors in Hannover has been the reduction in its exposure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "High-quality anchors, in line tenants, and entertainment options historically has drawn significant foot traffic to the mall, which makes placing a store in the mall attractive to other retailers as their store would benefit from the large number of people already heading to the mall.",
    "output": "[Cause] their store would benefit from the large number of people already heading to the mall [Relation] cause [Effect] placing a store in the mall attractive to other retailers",
    "gold": "[Cause] their store would benefit from the large number of people already heading to the mall [Relation] cause [Effect] placing a store in the mall attractive to other retailers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "High-quality anchors, in line tenants, and entertainment options historically has drawn significant foot traffic to the mall, which makes placing a store in the mall attractive to other retailers as their store would benefit from the large number of people already heading to the mall.",
    "output": "[Cause] their store would benefit from the large number of people already heading to the mall [Relation] cause [Effect] placing a store in the mall attractive to other retailers",
    "gold": "[Cause] High-quality anchors, in line tenants, and entertainment options historically has drawn significant foot traffic to the mall [Relation] enable [Effect] placing a store in the mall attractive to other retailers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, if the enterprise's data lake and warehousing needs were met through Snowflake's platform, the shift would be far less painful as Snowflake's platform has built in cloud vendor interoperability such that even a company on multiple public clouds could use the Snowflake platform across all.",
    "output": "[Cause] Snowflake's platform has built in cloud vendor interoperability [Relation] cause [Effect] the shift would be far less painful",
    "gold": "[Cause] the enterprise's data lake and warehousing needs were met through Snowflake's platform [Relation] enable [Effect] the shift would be far less painful",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, as a large chemical producer whose products are key components of plastics, Chevron faces the risk environmental concerns result in bans or usage reduction that reduces demand for its products or higher costs related to reuse or recycling.",
    "output": "[Cause] Chevron faces the risk environmental concerns [Relation] cause [Effect] bans or usage reduction",
    "gold": "[Cause] Chevron faces the risk environmental concerns result in bans or usage reduction [Relation] cause [Effect] reduces demand for its products or higher costs related to reuse or recycling",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "MetLife is smaller than competitor Prudential in Japan and faces additional competition from Japan-based firms such as Nippon and Japan Post; therefore, we do not believe it has a meaningful advantage over its competitors.",
    "output": "[Cause] MetLife is smaller than competitor Prudential in Japan and faces additional competition from Japan-based firms such as Nippon and Japan Post [Relation] cause [Effect] we do not believe it has a meaningful advantage over its competitors",
    "gold": "[Cause] MetLife is smaller than competitor Prudential in Japan and faces additional competition from Japan-based firms such as Nippon and Japan Post [Relation] cause [Effect] we do not believe it has a meaningful advantage over its competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "About 40% of homes served by Fios take Verizon Internet access service, a figure that hasn't moved much over the past five years, which likely leaves the firm slightly trailing the cable companies in these markets.",
    "output": "[Cause] About 40% of homes served by Fios take Verizon Internet access service, a figure that hasn't moved much over the past five years [Relation] cause [Effect] the firm slightly trailing the cable companies in these markets",
    "gold": "[Cause] About 40% of homes served by Fios take Verizon Internet access service, a figure that hasn't moved much over the past five years [Relation] cause [Effect] the firm slightly trailing the cable companies in these markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the chip side of Qualcomm's business, Apple disclosed it had been receiving quarterly rebates for exclusively using Qualcomm modem chips in iPhones.",
    "output": "[Cause] exclusively using Qualcomm modem chips in iPhones [Relation] cause [Effect] it had been receiving quarterly rebates",
    "gold": "[Cause] exclusively using Qualcomm modem chips in iPhones [Relation] cause [Effect] it had been receiving quarterly rebates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, for 2020 we look for total revenue to decline 13% on pandemic-related disruption, which weighed heavily on carload and intermodal volumes during the first half.",
    "output": "[Cause] pandemic-related disruption [Relation] cause [Effect] total revenue to decline 13%",
    "gold": "[Cause]  pandemic-related disruption [Relation] cause [Effect] total revenue to decline 13%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, for 2020 we look for total revenue to decline 13% on pandemic-related disruption, which weighed heavily on carload and intermodal volumes during the first half.",
    "output": "[Cause] pandemic-related disruption [Relation] cause [Effect] total revenue to decline 13%",
    "gold": "[Cause]  pandemic-related disruption [Relation] prevent [Effect] carload and intermodal volumes during the first half",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast Michael Kors' segment operating margins will stabilize at 21% in the long-term, lower than historical levels, as store closings and sales of lower-margin apparel and footwear take a toll.",
    "output": "[Cause] store closings and sales of lower-margin apparel and footwear take a toll [Relation] cause [Effect] Michael Kors' segment operating margins will stabilize at 21% in the long-term, lower than historical levels",
    "gold": "[Cause]  store closings and sales of lower-margin apparel and footwear take a toll [Relation] cause [Effect] Michael Kors' segment operating margins will stabilize at 21% in the long-term, lower than historical levels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The 2015 acquisition of GVT, a phone company with a high-quality fiber network, has allowed the expansion of the firm's fixed-line capabilities across much of the rest of Brazil.",
    "output": "[Cause] The 2015 acquisition of GVT, a phone company with a high-quality fiber network [Relation] enable [Effect] the expansion of the firm's fixed-line capabilities across much of the rest of Brazil",
    "gold": "[Cause] The 2015 acquisition of GVT, a phone company with a high-quality fiber network [Relation] enable [Effect] the expansion of the firm's fixed-line capabilities across much of the rest of Brazil",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's education offerings are sensitive to student enrollment levels, which directly affect demand for textbooks and the budgets available for classroom management technology (though the dynamic would be complicated if professors' willingness to use alternative learning materials in lieu of textbooks changed materially).",
    "output": "[Cause] The firm's education offerings are sensitive to student enrollment levels [Relation] cause [Effect] directly affect demand for textbooks and the budgets available for classroom management technology",
    "gold": "[Cause] The firm's education offerings are sensitive to student enrollment levels [Relation] cause [Effect] directly affect demand for textbooks and the budgets available for classroom management technology",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's education offerings are sensitive to student enrollment levels, which directly affect demand for textbooks and the budgets available for classroom management technology (though the dynamic would be complicated if professors' willingness to use alternative learning materials in lieu of textbooks changed materially).",
    "output": "[Cause] professors' willingness to use alternative learning materials in lieu of textbooks changed materially [Relation] cause [Effect] the dynamic would be complicated",
    "gold": "[Cause] professors' willingness to use alternative learning materials in lieu of textbooks changed materially [Relation] cause [Effect] the dynamic would be complicated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Focused entry from these competitors would double the current number of companies that have dominant scale (Booking, Expedia, Trip.com, and Airbnb), leading to commodification of the industry and a meaningful impact to margins.",
    "output": "[Cause] Focused entry from these competitors would double the current number of companies that have dominant scale (Booking, Expedia, Trip.com, and Airbnb) [Relation] cause [Effect] commodification of the industry and a meaningful impact to margins",
    "gold": "[Cause] Focused entry from these competitors would double the current number of companies that have dominant scale (Booking, Expedia, Trip.com, and Airbnb) [Relation] enable [Effect]  commodification of the industry and a meaningful impact to margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But this should not affect Hyatt's uncertainty rating unless travel demand returns to near zero for an extended period, leading to potential needs for incremental liquidity, which perhaps could occur at value-destructive levels.",
    "output": "[Cause] travel demand returns to near zero for an extended period [Relation] cause [Effect] affect Hyatt's uncertainty rating",
    "gold": "[Cause] travel demand returns to near zero for an extended period [Relation] cause [Effect] potential needs for incremental liquidity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "But this should not affect Hyatt's uncertainty rating unless travel demand returns to near zero for an extended period, leading to potential needs for incremental liquidity, which perhaps could occur at value-destructive levels.",
    "output": "[Cause] travel demand returns to near zero for an extended period [Relation] cause [Effect] potential needs for incremental liquidity",
    "gold": "[Cause] travel demand returns to near zero for an extended period [Relation] cause [Effect] affect Hyatt's uncertainty rating",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In fact, robots tend to perform dangerous tasks, like heavy lifting of objects and repetitive tasks over long periods (which avoids fatigue-related injuries), thus generally allowing workers to focus on other safer tasks.",
    "output": "[Cause] robots tend to perform dangerous tasks [Relation] enable [Effect] workers to focus on other safer tasks",
    "gold": "[Cause] robots tend to perform dangerous tasks [Relation] enable [Effect] workers to focus on other safer tasks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Platforms like K-Cups and Nespresso should facilitate global channel diversification efforts over the medium term, boosted by the Global Coffee Alliance partnership with Nestle.",
    "output": "[Cause] the Global Coffee Alliance partnership with Nestle [Relation] enable [Effect] Platforms like K-Cups and Nespresso should facilitate global channel diversification efforts over the medium term",
    "gold": "[Cause] the Global Coffee Alliance partnership with Nestle [Relation] enable [Effect] Platforms like K-Cups and Nespresso should facilitate global channel diversification efforts over the medium term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given Molson's material exposure to the former (over 70% of volume) and limited success in the latter, such a world could be a dystopian one for the company.",
    "output": "[Cause] Molson's material exposure to the former (over 70% of volume) and limited success in the latter [Relation] cause [Effect] such a world could be a dystopian one for the company",
    "gold": "[Cause] Given Molson's material exposure to the former [Relation] cause [Effect] uch a world could be a dystopian one for the company",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We do not include the Corpus Christi Stage III modular train in our financial forecast as it has not received a final investment decision.",
    "output": "[Cause] it has not received a final investment decision [Relation] cause [Effect] We do not include the Corpus Christi Stage III modular train in our financial forecast",
    "gold": "[Cause]  it has not received a final investment decision [Relation] cause [Effect] We do not include the Corpus Christi Stage III modular train in our financial forecast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since a significant amount of a drug's patent life is allocated to development, getting a drug to market earlier is crucial to give the sponsor more time to monetize the asset.",
    "output": "[Cause] a significant amount of a drug's patent life is allocated to development [Relation] cause [Effect] getting a drug to market earlier is crucial to give the sponsor more time to monetize the asset",
    "gold": "[Cause]  a significant amount of a drug's patent life is allocated to development [Relation] cause [Effect] getting a drug to market earlier is crucial to give the sponsor more time to monetize the asset",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This process would be even further complicated by CME's model as a vertically integrated clearinghouse and the restrictiveness of futures contracts.",
    "output": "[Cause] a vertically integrated clearinghouse and the restrictiveness of futures contracts [Relation] cause [Effect] This process would be even further complicated by CME's model",
    "gold": "[Cause] a vertically integrated clearinghouse and the restrictiveness of futures contracts [Relation] cause [Effect] This process would be even further complicated by CME's model",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast modest margin expansion for the legacy business in the coming years as IFF's product mix improves and the company harvests synergies from recent M&A deals.",
    "output": "[Cause] IFF's product mix improves and the company harvests synergies from recent M&A deals [Relation] cause [Effect] modest margin expansion for the legacy business in the coming years",
    "gold": "[Cause] IFF's product mix improves and the company harvests synergies from recent M&A deals [Relation] cause [Effect] modest margin expansion for the legacy business in the coming years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the generic sourcing front, between 2010 and 2018, distributors and large pharmacies developed generic buying consortiums to better negotiate pricing with generic manufacturers.",
    "output": "[Cause] distributors and large pharmacies developed generic buying consortiums [Relation] enable [Effect] better negotiate pricing with generic manufacturers",
    "gold": "[Cause] distributors and large pharmacies developed generic buying consortiums [Relation] cause [Effect]  better negotiate pricing with generic manufacturers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To remain relevant to scientists in early project phases, Waters must continue to innovate, and that ability to innovate contributes to its intangible assets in this business, as well.",
    "output": "[Cause] Waters must continue to innovate [Relation] enable [Effect] remain relevant to scientists in early project phases",
    "gold": "[Cause] remain relevant to scientists in early project phases [Relation] cause [Effect] Waters must continue to innovate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To remain relevant to scientists in early project phases, Waters must continue to innovate, and that ability to innovate contributes to its intangible assets in this business, as well.",
    "output": "[Cause] Waters must continue to innovate [Relation] cause [Effect] its intangible assets in this business",
    "gold": "[Cause] that ability to innovate [Relation] cause [Effect] its intangible assets in this business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Gross margins have taken a hit recently due to the consolidation of various finished goods businesses (like Fairlife and bottlers in Africa), as well as cost deleverage from COVID-19 disruption.",
    "output": "[Cause] the consolidation of various finished goods businesses (like Fairlife and bottlers in Africa), as well as cost deleverage from COVID-19 disruption [Relation] cause [Effect] Gross margins have taken a hit recently",
    "gold": "[Cause] Gross margins have taken a hit recently [Relation] enable [Effect] due to the consolidation of various finished goods businesses (like Fairlife and bottlers in Africa), as well as cost deleverage from COVID-19 disruption",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A nearer-term issue is an industry shift toward bank account and credit or debit card funded transactions, but Western Union has been investing heavily in these areas, and we believe it has positioned itself to maintain its overall share as these methods grow in importance.",
    "output": "[Cause] these methods grow in importance [Relation] enable [Effect] it has positioned itself to maintain its overall share",
    "gold": "[Cause] these methods grow in importance [Relation] enable [Effect]  it has positioned itself to maintain its overall share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its variable annuities product suite is built around a simple core product strategy with a menu of optional extras that allow customers to pick and choose riders that lead to a product that is highly tailored to their needs.",
    "output": "[Cause] Its variable annuities product suite is built around a simple core product strategy with a menu of optional extras [Relation] enable [Effect] allow customers to pick and choose riders that lead to a product that is highly tailored to their needs",
    "gold": "[Cause] simple core product strategy with a menu of optional extras [Relation] enable [Effect] variable annuities product suite",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The iRules feature set allows customers to tailor traffic flow per their unique situations, and we believe this customer-centric approach helps keep F5 products engrained within networks.",
    "output": "[Cause] The iRules feature set allows customers to tailor traffic flow per their unique situations [Relation] enable [Effect] this customer-centric approach helps keep F5 products engrained within networks",
    "gold": "[Cause] The iRules feature set allows customers to tailor traffic flow per their unique situations [Relation] enable [Effect] this customer-centric approach helps keep F5 products engrained within networks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As SAP's concentration of cloud customers increases, the mix shift toward higher-margin cloud and software revenue should lead to expansion in SAP's margins.",
    "output": "[Cause] SAP's concentration of cloud customers increases [Relation] cause [Effect] the mix shift toward higher-margin cloud and software revenue should lead to expansion in SAP's margins",
    "gold": "[Cause] SAP's concentration of cloud customers increases [Relation] cause [Effect] the mix shift toward higher-margin cloud and software revenue should lead to expansion in SAP's margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The risk for investors, however, is that further cost-cutting on RB's already high operating margins cannot be achieved without causing further strains in the route-to-market.",
    "output": "[Cause] further cost-cutting on RB's already high operating margins cannot be achieved without causing further strains in the route-to-market [Relation] cause [Effect] The risk for investors",
    "gold": "[Cause] further cost-cutting on RB's already high operating margins [Relation] cause [Effect] further strains in the route-to-market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe customers are also reluctant to switch away from Sales Cloud because of the time, expense, and risk of implementing new applications and migrating data and the time, expense, and lost productivity of retraining the workforce on a new platform.",
    "output": "[Cause] the time, expense, and risk of implementing new applications and migrating data and the time, expense, and lost productivity of retraining the workforce on a new platform [Relation] cause [Effect] customers are also reluctant to switch away from Sales Cloud",
    "gold": "[Cause] the time, expense, and risk of implementing new applications and migrating data and the time, expense, and lost productivity of retraining the workforce on a new platform [Relation] cause [Effect] customers are also reluctant to switch away from Sales Cloud",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the mobile segment to grow 10%, as the decline of Candy Crush Saga is offset by growth from new King Digital properties, the reintroduction of third-party ads, and Activision/Blizzard mobile efforts.",
    "output": "[Cause] the decline of Candy Crush Saga is offset by growth from new King Digital properties, the reintroduction of third-party ads, and Activision/Blizzard mobile efforts [Relation] cause [Effect] the mobile segment to grow 10%",
    "gold": "[Cause] the decline of Candy Crush Saga is offset by growth from new King Digital properties, the reintroduction of third-party ads, and Activision/Blizzard mobile efforts [Relation] cause [Effect] the mobile segment to grow 10%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, in an extreme bear case, we believe the weakness in servicing fees would be partially offset by higher volatility-driven foreign exchange trading services and securities finance revenue.",
    "output": "[Cause] higher volatility-driven foreign exchange trading services and securities finance revenue [Relation] prevent [Effect] the weakness in servicing fees",
    "gold": "[Cause] higher volatility-driven foreign exchange trading services and securities finance revenue [Relation] prevent [Effect] the weakness in servicing fees",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the segment to see mid-single-digit growth long term, recovering after a low-double-digit dip in 2020 as the industrial economy normalizes.",
    "output": "[Cause] the industrial economy normalizes [Relation] cause [Effect] the segment to see mid-single-digit growth long term, recovering after a low-double-digit dip in 2020",
    "gold": "[Cause] the industrial economy normalizes [Relation] cause [Effect] the segment to see mid-single-digit growth long term, recovering after a low-double-digit dip in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm also has product governance risk exposure from potential vehicle safety recalls which have increased compliance scrutiny from various governments' safety regulations.",
    "output": "[Cause] The firm also has product governance risk exposure from potential vehicle safety recalls [Relation] cause [Effect] increased compliance scrutiny from various governments' safety regulations",
    "gold": "[Cause] The firm also has product governance risk exposure from potential vehicle safety recalls [Relation] cause [Effect] increased compliance scrutiny from various governments' safety regulations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Owing to its category leadership across snacks and beverages, Pepsi is often viewed as a strategic partner by retailers, helping to incubate strategies to increase overall category value.",
    "output": "[Cause] its category leadership across snacks and beverages [Relation] cause [Effect] Pepsi is often viewed as a strategic partner by retailers",
    "gold": "[Cause] its category leadership across snacks and beverages [Relation] cause [Effect] Pepsi is often viewed as a strategic partner by retailers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This has helped Microsoft Server become the path of least resistance for CIOs and IT managers as well: a larger installed base attracts developers, which in turn attracts more customers.",
    "output": "[Cause] a larger installed base attracts developers [Relation] enable [Effect] attracts more customers",
    "gold": "[Cause] a larger installed base attracts developers [Relation] cause [Effect] attracts more customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Therefore, the exchange's clearinghouse must stand between the buyer and seller in order to limit the risk of a counterparty failing to fulfill its end of the contract by default. Therefore, with derivatives and futures products, after achieving liquidity, one exchange will become the dominant home to trade a particular product.",
    "output": "[Cause] the exchange's clearinghouse must stand between the buyer and seller in order to limit the risk of a counterparty failing to fulfill its end of the contract by default [Relation] cause [Effect] with derivatives and futures products, after achieving liquidity, one exchange will become the dominant home to trade a particular product",
    "gold": "[Cause] the exchange's clearinghouse must stand between the buyer and seller in order to limit the risk of a counterparty failing to fulfill its end of the contract by default [Relation] cause [Effect] with derivatives and futures products, after achieving liquidity, one exchange will become the dominant home to trade a particular product",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our 2029 operating margin forecast is for roughly 4.6%, supported by gross margin gains (which reach 37%, below the above 38% corporate goal) from a greater focus on private label, including the introduction of 10 new owned brands.",
    "output": "[Cause] gross margin gains (which reach 37%, below the above 38% corporate goal) from a greater focus on private label [Relation] enable [Effect] Our 2029 operating margin forecast is for roughly 4.6%",
    "gold": "[Cause] a greater focus on private label [Relation] enable [Effect] gross margin gains",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This rapidly growing subscriber base (over 130 million worldwide) creates a humongous data set that Netflix mines in order to better purchase and create content. This new content not only strengthens its relationship with its current customers, but also attracts new customers via word of mouth and the halo effect from critical acclaim and award nominations.",
    "output": "[Cause] This rapidly growing subscriber base (over 130 million worldwide) creates a humongous data set that Netflix mines in order to better purchase and create content [Relation] cause [Effect] not only strengthens its relationship with its current customers, but also attracts new customers via word of mouth and the halo effect from critical acclaim and award nominations",
    "gold": "[Cause] This rapidly growing subscriber base (over 130 million worldwide) creates a humongous data set that Netflix mines in order to better purchase and create content [Relation] enable [Effect] not only strengthens its relationship with its current customers, but also attracts new customers via word of mouth and the halo effect from critical acclaim and award nominations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In a power plant, failure to adequately transfer power in a safe manner can result in power outages for large swaths of a community, or overcurrent could cause fires and damage to vital electrical infrastructure.",
    "output": "[Cause] overcurrent [Relation] cause [Effect] fires and damage to vital electrical infrastructure",
    "gold": "[Cause] overcurrent [Relation] cause [Effect] fires and damage to vital electrical infrastructure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Those firms also are particularly vulnerable to various hacking and security threats, which left an opportunity for Akamai to offer security products.",
    "output": "[Cause] Those firms also are particularly vulnerable to various hacking and security threats [Relation] cause [Effect] Akamai to offer security products",
    "gold": "[Cause] Those firms also are particularly vulnerable to various hacking and security threats [Relation] enable [Effect] Akamai to offer security products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, the company has been cutting costs amid the low oil price environment since 2014, and we think CNOOC will remain profitable going forward following the recovery in oil prices and given its low all-in cost of below $40 per barrel.",
    "output": "[Cause] the recovery in oil prices and given its low all-in cost of below $40 per barrel [Relation] enable [Effect] CNOOC will remain profitable going forward",
    "gold": "[Cause] the recovery in oil prices and given its low all-in cost of below $40 per barrel [Relation] cause [Effect] CNOOC will remain profitable going forward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate some margin compression in the medium term, leading to a normalized segment margin of 11.4%, below the previous five-year average of 11.6%.",
    "output": "[Cause] some margin compression in the medium term [Relation] cause [Effect] a normalized segment margin of 11.4%, below the previous five-year average of 11.6%",
    "gold": "[Cause] some margin compression in the medium term [Relation] cause [Effect] a normalized segment margin of 11.4%, below the previous five-year average of 11.6%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the races and practices do burn fuel, the amount is dwarfed by the amount consumed by the transportation between races as the larger teams can have up to 100 personnel and 50 tons of cargo shipped for each race.",
    "output": "[Cause] the larger teams can have up to 100 personnel and 50 tons of cargo shipped for each race [Relation] cause [Effect] the amount is dwarfed by the amount consumed by the transportation between races",
    "gold": "[Cause] the larger teams can have up to 100 personnel and 50 tons of cargo shipped for each race [Relation] cause [Effect] the amount is dwarfed by the amount consumed by the transportation between races",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result of the strong network effect, Expedia and Booking each have around 30% share of the global online travel agency booking market.",
    "output": "[Cause] the strong network effect [Relation] cause [Effect] Expedia and Booking each have around 30% share of the global online travel agency booking market",
    "gold": "[Cause] the strong network effect [Relation] cause [Effect] Expedia and Booking each have around 30% share of the global online travel agency booking market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2020, the firm invested in the Kylie and KKW beauty brands, founded by celebrities Kylie Jenner and Kim Kardashian West, but we think it will be difficult to build sustainable brand equities as celebrity popularity tends to ebb and flow.",
    "output": "[Cause] celebrity popularity tends to ebb and flow [Relation] cause [Effect] it will be difficult to build sustainable brand equities",
    "gold": "[Cause] celebrity popularity tends to ebb and flow [Relation] cause [Effect] it will be difficult to build sustainable brand equities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the pandemic also accelerated the broader e-commerce shift (likely by many years), and heavy online fulfullment demand drove a massive surge in UPS' B2C package volumes.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] accelerated the broader e-commerce shift",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] accelerated the broader e-commerce shift",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the pandemic also accelerated the broader e-commerce shift (likely by many years), and heavy online fulfullment demand drove a massive surge in UPS' B2C package volumes.",
    "output": "[Cause] heavy online fulfullment demand [Relation] cause [Effect] a massive surge in UPS' B2C package volumes",
    "gold": "[Cause] heavy online fulfullment demand [Relation] cause [Effect] a massive surge in UPS' B2C package volumes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "People are often reluctant to switch advisors because of their relationships with them, uncertainty about the potential cost/benefit trade-off, and inertia with financial management decision-making.",
    "output": "[Cause] their relationships with them [Relation] cause [Effect] People are often reluctant to switch advisors",
    "gold": "[Cause] their relationships with them [Relation] cause [Effect] People are often reluctant to switch advisors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "People are often reluctant to switch advisors because of their relationships with them, uncertainty about the potential cost/benefit trade-off, and inertia with financial management decision-making.",
    "output": "[Cause] uncertainty about the potential cost/benefit trade-off [Relation] cause [Effect] People are often reluctant to switch advisors",
    "gold": "[Cause] uncertainty about the potential cost/benefit trade-off [Relation] cause [Effect] People are often reluctant to switch advisors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "People are often reluctant to switch advisors because of their relationships with them, uncertainty about the potential cost/benefit trade-off, and inertia with financial management decision-making.",
    "output": "[Cause] uncertainty about the potential cost/benefit trade-off [Relation] cause [Effect] People are often reluctant to switch advisors",
    "gold": "[Cause] inertia with financial management decision-making [Relation] cause [Effect] People are often reluctant to switch advisors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Overall, FedEx, UPS, and DHL Express dominate the global parcel shipping landscape (FDX and UPS in the U.S., DHL in Europe), and the networks these providers have erected constitute formidable barriers to entry.",
    "output": "[Cause] FedEx, UPS, and DHL Express dominate the global parcel shipping landscape [Relation] cause [Effect] formidable barriers to entry",
    "gold": "[Cause]  the networks these providers have erected [Relation] enable [Effect] formidable barriers to entry",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The combination of competitive pricing, unparalleled logistics capabilities and speed, and high-level customer service makes Amazon an increasingly vital distribution channel for consumer brands (especially in light of COVID-19 operating restrictions hindering physical retailers).",
    "output": "[Cause] The combination of competitive pricing, unparalleled logistics capabilities and speed, and high-level customer service [Relation] enable [Effect] Amazon an increasingly vital distribution channel for consumer brands",
    "gold": "[Cause] The combination of competitive pricing, unparalleled logistics capabilities and speed, and high-level customer service [Relation] enable [Effect]  Amazon an increasingly vital distribution channel for consumer brands",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thus, any delays or reduced demand, perhaps due to ongoing COVID-19 weakness, from international markets, particularly important petrochemicals markets such as India or China would have a materially negative effect on Enterprise's earnings.",
    "output": "[Cause] ongoing COVID-19 weakness [Relation] cause [Effect] any delays or reduced demand",
    "gold": "[Cause] ongoing COVID-19 weakness [Relation] cause [Effect] any delays or reduced demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thus, any delays or reduced demand, perhaps due to ongoing COVID-19 weakness, from international markets, particularly important petrochemicals markets such as India or China would have a materially negative effect on Enterprise's earnings.",
    "output": "[Cause] ongoing COVID-19 weakness [Relation] cause [Effect] any delays or reduced demand",
    "gold": "[Cause] any delays or reduced demand [Relation] cause [Effect] a materially negative effect on Enterprise's earnings",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "There is a long-term risk that policymakers will move retail customers away from gas heating, but we think that's unlikely in the near future given the technical and economic hurdles in the colder climate where CMS operates.",
    "output": "[Cause] the technical and economic hurdles in the colder climate where CMS operates [Relation] cause [Effect] that's unlikely in the near future",
    "gold": "[Cause]  the technical and economic hurdles in the colder climate where CMS operates [Relation] prevent [Effect] retail customers away from gas heating",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Strict pharmaceutical regulations create high stickiness, and customers are unlikely to reopen drug patents to switch suppliers for relatively low-cost packaging components.",
    "output": "[Cause] Strict pharmaceutical regulations [Relation] cause [Effect] high stickiness",
    "gold": "[Cause] Strict pharmaceutical regulations [Relation] cause [Effect] high stickiness",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we forecast a 35% decline in sales in 2020 due to the virus, we expect 34% sales growth in 2021 as the economy improves and more Rack stores open.",
    "output": "[Cause] the virus [Relation] cause [Effect] a 35% decline in sales in 2020",
    "gold": "[Cause] the virus [Relation] cause [Effect] a 35% decline in sales in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we forecast a 35% decline in sales in 2020 due to the virus, we expect 34% sales growth in 2021 as the economy improves and more Rack stores open.",
    "output": "[Cause] the economy improves and more Rack stores open [Relation] cause [Effect] 34% sales growth in 2021",
    "gold": "[Cause] the economy improves and more Rack stores open [Relation] cause [Effect] 34% sales growth in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Third, NICE also provides powerful analytics and robotic process automation (RPA) services that increase its platform's value proposition for businesses.",
    "output": "[Cause] NICE also provides powerful analytics and robotic process automation (RPA) services [Relation] enable [Effect] increase its platform's value proposition for businesses",
    "gold": "[Cause] NICE also provides powerful analytics and robotic process automation (RPA) services [Relation] cause [Effect] increase its platform's value proposition for businesses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Especially considering younger customers' embrace of social media, we anticipate the expenditures needed to reach such shoppers is falling, as more expensive traditional media continues to cede ground to digital alternatives.",
    "output": "[Cause] more expensive traditional media continues to cede ground to digital alternatives [Relation] cause [Effect] the expenditures needed to reach such shoppers is falling",
    "gold": "[Cause] younger customers' embrace of social media [Relation] cause [Effect] the expenditures needed to reach such shoppers is falling, as more expensive traditional media continues to cede ground to digital alternatives",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although we acknowledge that the structural barriers to entry and switching costs are not as high in the prevention and rehabilitation business, we still think that Colfax enjoys a meaningful competitive advantage thanks to its recognized brand names, reputation for quality, and leading market share globally.",
    "output": "[Cause] its recognized brand names, reputation for quality, and leading market share globally [Relation] enable [Effect] Colfax enjoys a meaningful competitive advantage",
    "gold": "[Cause] its recognized brand names, reputation for quality, and leading market share globally [Relation] enable [Effect] Colfax enjoys a meaningful competitive advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Perhaps more importantly, the ability to drive sales volume growth has improved Domino's cost picture, with incremental sales offering leverage over largely fixed expenses such as payroll and occupancy costs.",
    "output": "[Cause] the ability to drive sales volume growth [Relation] enable [Effect] improved Domino's cost picture, with incremental sales offering leverage over largely fixed expenses",
    "gold": "[Cause] the ability to drive sales volume growth [Relation] cause [Effect]  improved Domino's cost picture, with incremental sales offering leverage over largely fixed expenses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite this strength, the observation deck has recently seen declining visitor counts stemming from flailing international tourist demand, competition from newer observation decks, and an increase in bad-weather days, with the outbreak of the coronavirus further compounding its issues.",
    "output": "[Cause] flailing international tourist demand, competition from newer observation decks, and an increase in bad-weather days, with the outbreak of the coronavirus further compounding its issues [Relation] cause [Effect] the observation deck has recently seen declining visitor counts",
    "gold": "[Cause] flailing international tourist demand, competition from newer observation decks, and an increase in bad-weather days, with the outbreak of the coronavirus further compounding its issues [Relation] cause [Effect] the observation deck has recently seen declining visitor counts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Larger customers are usually stickier, as it would be more operationally invasive for them to rip out a large-scale contact center or compliance solution given that they are more likely to utilize a greater amount of software solutions that are highly integrated with company operations.",
    "output": "[Cause] they are more likely to utilize a greater amount of software solutions that are highly integrated with company operations [Relation] cause [Effect] Larger customers are usually stickier",
    "gold": "[Cause] they are more likely to utilize a greater amount of software solutions that are highly integrated with company operations [Relation] cause [Effect] it would be more operationally invasive for them to rip out a large-scale contact center or compliance solution",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Periods of prolonged low oil prices weaken returns on capital, and new oil and gas projects would be unlikely to generate their projected economic results.",
    "output": "[Cause] Periods of prolonged low oil prices weaken returns on capital [Relation] cause [Effect] new oil and gas projects would be unlikely to generate their projected economic results",
    "gold": "[Cause] Periods of prolonged low oil prices weaken returns on capital [Relation] cause [Effect] new oil and gas projects would be unlikely to generate their projected economic results",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Both of these industries are running processes 24/7 and in potentially dangerous environments, and therefore tend to be very conservative when it comes to picking suppliers.",
    "output": "[Cause] Both of these industries are running processes 24/7 and in potentially dangerous environments [Relation] cause [Effect] tend to be very conservative when it comes to picking suppliers",
    "gold": "[Cause] Both of these industries are running processes 24/7 and in potentially dangerous environments [Relation] cause [Effect] tend to be very conservative when it comes to picking suppliers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, supplying products into these markets, particularly aviation, comes with significant risks if the firm's products are found to malfunction.",
    "output": "[Cause] the firm's products are found to malfunction [Relation] cause [Effect] significant risks",
    "gold": "[Cause]  the firm's products are found to malfunction [Relation] cause [Effect] significant risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If demand for third-party data centers weakens for any reason, Digital would find itself with too much capacity and a weakened cost profile.",
    "output": "[Cause] demand for third-party data centers weakens for any reason [Relation] cause [Effect] Digital would find itself with too much capacity and a weakened cost profile",
    "gold": "[Cause]  demand for third-party data centers weakens for any reason [Relation] cause [Effect] Digital would find itself with too much capacity and a weakened cost profile",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through its proxy and interim communication business, Broadridge has developed mailing, technology, and processing capabilities and has leveraged this to other offerings.",
    "output": "[Cause] its proxy and interim communication business [Relation] enable [Effect] Broadridge has developed mailing, technology, and processing capabilities and has leveraged this to other offerings",
    "gold": "[Cause] its proxy and interim communication business [Relation] enable [Effect] Broadridge has developed mailing, technology, and processing capabilities and has leveraged this to other offerings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the retail customer's need for guidance to help forestall significant entry by nontraditional, digital retailers (like Amazon) into the hard-parts DIY space for the foreseeable future.",
    "output": "[Cause] the retail customer's need for guidance [Relation] prevent [Effect] significant entry by nontraditional, digital retailers (like Amazon) into the hard-parts DIY space for the foreseeable future",
    "gold": "[Cause] the retail customer's need for guidance [Relation] prevent [Effect] significant entry by nontraditional, digital retailers (like Amazon) into the hard-parts DIY space for the foreseeable future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Turning their attention to scale to combat float and expenses, the leadership looked for growth and found the most similarities with the excess layer segment in primary lead.",
    "output": "[Cause] Turning their attention to scale to combat float and expenses [Relation] cause [Effect] the leadership looked for growth and found the most similarities with the excess layer segment in primary lead",
    "gold": "[Cause] Turning their attention to scale to combat float and expenses [Relation] cause [Effect] the leadership looked for growth and found the most similarities with the excess layer segment in primary lead",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the broader assortment contributes to Kroger's greater sales productivity, at more than $700 in sales per supermarket square foot versus Sprouts' roughly $640 in fiscal 2020.",
    "output": "[Cause] the broader assortment [Relation] enable [Effect] Kroger's greater sales productivity",
    "gold": "[Cause]  the broader assortment [Relation] enable [Effect] Kroger's greater sales productivity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm has benefited from strong PC gaming momentum in recent years, as gamers shift from consoles to PC gaming.",
    "output": "[Cause] gamers shift from consoles to PC gaming [Relation] cause [Effect] The firm has benefited from strong PC gaming momentum in recent years",
    "gold": "[Cause] gamers shift from consoles to PC gaming [Relation] cause [Effect] The firm has benefited from strong PC gaming momentum in recent years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are maintaining our average gross margin of 40%) over the next decade, as we expect strategic changes at VS to stabilize demand and innovation at BBW to permit pricing power.",
    "output": "[Cause] strategic changes at VS to stabilize demand and innovation at BBW to permit pricing power [Relation] cause [Effect] maintaining our average gross margin of 40%) over the next decade",
    "gold": "[Cause] strategic changes at VS to stabilize demand and innovation at BBW to permit pricing power [Relation] cause [Effect] maintaining our average gross margin of 40%) over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customers tend to exhibit Specialty Industrial Machinerylittle brand loyalty and thus there is no pricing power, with all premium players' tools typically being present at their customers manufacturing sites.",
    "output": "[Cause] Customers tend to exhibit Specialty Industrial Machinerylittle brand loyalty [Relation] cause [Effect] there is no pricing power, with all premium players' tools typically being present at their customers manufacturing sites",
    "gold": "[Cause] Customers tend to exhibit Specialty Industrial Machinerylittle brand loyalty [Relation] cause [Effect] there is no pricing power, with all premium players' tools typically being present at their customers manufacturing sites",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Jude's heart-focused portfolio (along with smaller tuck-ins) significantly broadens Abbott's cardiac device product offering, raising the firm's ability to compete as hospital clients seek to winnow suppliers.",
    "output": "[Cause] Jude's heart-focused portfolio (along with smaller tuck-ins) significantly broadens Abbott's cardiac device product offering [Relation] cause [Effect] raising the firm's ability to compete as hospital clients seek to winnow suppliers",
    "gold": "[Cause] Jude's heart-focused portfolio [Relation] cause [Effect]  raising the firm's ability to compete as hospital clients seek to winnow suppliers. | broadens Abbott's cardiac device product offering",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After the pandemic subsides, volume leverage should manifest slowly as on-premises beer consumption recovers and management executes more meaningfully against its innovation pipeline.",
    "output": "[Cause] on-premises beer consumption recovers and management executes more meaningfully against its innovation pipeline [Relation] cause [Effect] volume leverage should manifest slowly",
    "gold": "[Cause] on-premises beer consumption recovers and management executes more meaningfully against its innovation pipeline [Relation] cause [Effect]  volume leverage should manifest slowly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, Google has partnered with Sabre to help develop cloud-based infrastructure and product innovation, which offers another sign that the search engine giant appears to have no plans to compete directly with GDS operators.",
    "output": "[Cause] Google has partnered with Sabre to help develop cloud-based infrastructure and product innovation [Relation] cause [Effect] offers another sign that the search engine giant appears to have no plans to compete directly with GDS operators",
    "gold": "[Cause] Google has partnered with Sabre to help develop cloud-based infrastructure and product innovation [Relation] cause [Effect] offers another sign that the search engine giant appears to have no plans to compete directly with GDS operators",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's reliance on organic developments could hinder it against competitors that more readily use acquisitions to gain the latest trends in cybersecurity threat prevention.",
    "output": "[Cause] The company's reliance on organic developments [Relation] prevent [Effect] it against competitors that more readily use acquisitions to gain the latest trends in cybersecurity threat prevention",
    "gold": "[Cause] The company's reliance on organic developments [Relation] prevent [Effect] it against competitors that more readily use acquisitions to gain the latest trends in cybersecurity threat prevention",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In many ways, Canadian regulation makes it more difficult for banks to issue bad credit, including mandatory insurance and standards on riskier mortgage loans, not having a GSE like government subsidized mortgage securitization market, and forcing banks to hold more of the risk on their own balance sheets.",
    "output": "[Cause] Canadian regulation [Relation] cause [Effect] it more difficult for banks to issue bad credit",
    "gold": "[Cause] Canadian regulation makes it more difficult for banks to issue bad credit, including mandatory insurance and standards on riskier mortgage loans, not having a GSE like government subsidized mortgage securitization market [Relation] cause [Effect] forcing banks to hold more of the risk on their own balance sheets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We have lowered our fair value estimate to $58 per share from $60, as lower near-term demand is mitigated by the time value of money.",
    "output": "[Cause] lower near-term demand is mitigated by the time value of money [Relation] cause [Effect] We have lowered our fair value estimate to $58 per share from $60",
    "gold": "[Cause] lower near-term demand is mitigated by the time value of money [Relation] cause [Effect] We have lowered our fair value estimate to $58 per share from $60",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The paper and industrial converted segment is likely to experience low-single-digit growth and some operating margin contraction due to long-term containerboard price compression.",
    "output": "[Cause] long-term containerboard price compression [Relation] cause [Effect] The paper and industrial converted segment is likely to experience low-single-digit growth and some operating margin contraction",
    "gold": "[Cause] long-term containerboard price compression [Relation] cause [Effect] The paper and industrial converted segment is likely to experience low-single-digit growth and some operating margin contraction",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The rising cost of living in New York City could also hamper the company's ability to seek rate increases.",
    "output": "[Cause] The rising cost of living in New York City [Relation] prevent [Effect] the company's ability to seek rate increases",
    "gold": "[Cause] The rising cost of living in New York City [Relation] prevent [Effect] the company's ability to seek rate increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast total annual room growth of 3.6% for 2020-29, driven by high-single-digit unit growth in China, a low-single-digit lift in Europe, Middle East, and Africa, and Asia, and low-single-digit growth in the Americas, supported by a pipeline that represents 32% of the company's existing room base.",
    "output": "[Cause] a pipeline that represents 32% of the company's existing room base [Relation] cause [Effect] We forecast total annual room growth of 3.6% for 2020-29",
    "gold": "[Cause] a pipeline that represents 32% of the company's existing room base [Relation] cause [Effect] We forecast total annual room growth of 3.6% for 2020-29",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are raising our fair value estimate for Lincoln Electric to $115 from $107 per share after the company reported strong first-quarter earnings results, as its adjusted EPS of $1.37 easily beat the FactSet consensus estimate of $1.18.",
    "output": "[Cause] its adjusted EPS of $1.37 easily beat the FactSet consensus estimate of $1.18 [Relation] cause [Effect] raising our fair value estimate for Lincoln Electric to $115 from $107 per share after the company reported strong first-quarter earnings results",
    "gold": "[Cause] the company reported strong first-quarter earnings results [Relation] cause [Effect] We are raising our fair value estimate for Lincoln Electric to $115 from $107 per share",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Azure also is an excellent launching point for secular trends in AI, business intelligence and Internet of Things, as it continues to launch new services centered around these broad themes.",
    "output": "[Cause] it continues to launch new services centered around these broad themes [Relation] cause [Effect] Azure also is an excellent launching point for secular trends in AI, business intelligence and Internet of Things",
    "gold": "[Cause] it continues to launch new services centered around these broad themes [Relation] enable [Effect] Azure also is an excellent launching point for secular trends in AI, business intelligence and Internet of Things",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result of a fragmented industry structure, high volatility, and the potential for large losses on individual projects, it is difficult for E&amp;C firms to sustain consistently attractive returns on invested capital throughout the economic cycle.",
    "output": "[Cause] a fragmented industry structure, high volatility, and the potential for large losses on individual projects [Relation] cause [Effect] it is difficult for E&amp;C firms to sustain consistently attractive returns on invested capital throughout the economic cycle",
    "gold": "[Cause]  a fragmented industry structure, high volatility, and the potential for large losses on individual projects [Relation] cause [Effect] it is difficult for E&amp;C firms to sustain consistently attractive returns on invested capital throughout the economic cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Landstar's customer base of more than 30,000 shippers allows for significant buying power. As a result, the company can usually procure capacity more efficiently and at lower rates than shippers could generally obtain directly with carriers.",
    "output": "[Cause] Landstar's customer base of more than 30,000 shippers allows for significant buying power [Relation] cause [Effect] the company can usually procure capacity more efficiently and at lower rates than shippers could generally obtain directly with carriers",
    "gold": "[Cause] Landstar's customer base of more than 30,000 shippers allows for significant buying power [Relation] cause [Effect]  the company can usually procure capacity more efficiently and at lower rates than shippers could generally obtain directly with carriers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Farmers are becoming more sophisticated, realizing the benefits of the most advanced equipment and the latest in digital technology. This is one reason we believe that the agricultural equipment division has been able to produce an average 9.5% operating margin between 2011 and 2019.",
    "output": "[Cause] Farmers are becoming more sophisticated, realizing the benefits of the most advanced equipment and the latest in digital technology [Relation] cause [Effect] the agricultural equipment division has been able to produce an average 9.5% operating margin between 2011 and 2019",
    "gold": "[Cause] Farmers are becoming more sophisticated, realizing the benefits of the most advanced equipment and the latest in digital technology [Relation] cause [Effect] the agricultural equipment division has been able to produce an average 9.5% operating margin between 2011 and 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Going forward, the events of the past year appear to have acted as an additional spur to pricing, which could improve the outlook for industry profitabilty going forward.",
    "output": "[Cause] the events of the past year appear to have acted as an additional spur to pricing [Relation] enable [Effect] improve the outlook for industry profitabilty going forward",
    "gold": "[Cause] the events of the past year appear to have acted as an additional spur to pricing [Relation] enable [Effect]  improve the outlook for industry profitabilty going forward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project sponsorship revenue in 2021 will still be 31% below 2019 because of the lower number of events, cancellation of many festivals, and lower ad spending.",
    "output": "[Cause] the lower number of events, cancellation of many festivals, and lower ad spending [Relation] cause [Effect] We project sponsorship revenue in 2021 will still be 31% below 2019",
    "gold": "[Cause] the lower number of events, cancellation of many festivals, and lower ad spending [Relation] cause [Effect] We project sponsorship revenue in 2021 will still be 31% below 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that ING has a material funding advantage that comes primarily from its strong competitive position in Dutch retail banking.",
    "output": "[Cause] its strong competitive position in Dutch retail banking [Relation] cause [Effect] ING has a material funding advantage",
    "gold": "[Cause]  its strong competitive position in Dutch retail banking [Relation] cause [Effect] ING has a material funding advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since TransDigm faces no competition for spare parts in the markets it serves and airlines need to have properly maintained aircraft to perform the core function of their business, they often have little choice but to accept TransDigm's prices.",
    "output": "[Cause] TransDigm faces no competition for spare parts in the markets it serves and airlines need to have properly maintained aircraft to perform the core function of their business [Relation] cause [Effect] they often have little choice but to accept TransDigm's prices",
    "gold": "[Cause] TransDigm faces no competition for spare parts in the markets it serves and airlines need to have properly maintained aircraft to perform the core function of their business [Relation] cause [Effect]  they often have little choice but to accept TransDigm's prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Significant procyclical expansions in the boom and the abysmal acquisition of Alcan diluted returns to the point where Rio is unlikely to earn its cost of capital, particularly in a post-China-boom world.",
    "output": "[Cause] Significant procyclical expansions in the boom and the abysmal acquisition of Alcan [Relation] cause [Effect] diluted returns to the point where Rio is unlikely to earn its cost of capital, particularly in a post-China-boom world",
    "gold": "[Cause] Significant procyclical expansions in the boom and the abysmal acquisition of Alcan [Relation] cause [Effect] diluted returns to the point where Rio is unlikely to earn its cost of capital, particularly in a post-China-boom world",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we do view the banking sector as intensely competitive, we note that the largest banks by asset size have generally been able to earn higher returns on equity for the last several decades, and still do so today.",
    "output": "[Cause] the largest banks by asset size have generally been able to earn higher returns on equity for the last several decades [Relation] enable [Effect] still do so today",
    "gold": "[Cause] the largest banks by asset size have generally been able to earn higher returns on equity [Relation] cause [Effect] the banking sector as intensely competitive",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we are cognizant of capital spending budgets constraints that will materialize from lack of highly profitable elective procedures for the hospitals, and thus our forecast for 2020 is rather tepid at nearly zero growth.",
    "output": "[Cause] capital spending budgets constraints [Relation] cause [Effect] materialize from lack of highly profitable elective procedures for the hospitals",
    "gold": "[Cause] capital spending budgets constraints [Relation] cause [Effect] materialize from lack of highly profitable elective procedures for the hospitals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we are cognizant of capital spending budgets constraints that will materialize from lack of highly profitable elective procedures for the hospitals, and thus our forecast for 2020 is rather tepid at nearly zero growth.",
    "output": "[Cause] capital spending budgets constraints [Relation] cause [Effect] our forecast for 2020 is rather tepid at nearly zero growth",
    "gold": "[Cause] capital spending budgets constraints [Relation] cause [Effect] our forecast for 2020 is rather tepid at nearly zero growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because LPL has been a net recruiter of advisors and is often able to bring advisors onboard from competing brokers, additional exits from the protocol could provide a headwind to recruitment efforts.",
    "output": "[Cause] LPL has been a net recruiter of advisors and is often able to bring advisors onboard from competing brokers [Relation] cause [Effect] additional exits from the protocol could provide a headwind to recruitment efforts",
    "gold": "[Cause] LPL has been a net recruiter of advisors and is often able to bring advisors onboard from competing brokers [Relation] cause [Effect] additional exits from the protocol could provide a headwind to recruitment efforts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Demographic shifts also play a nontrivial role in this phenomenon, as younger drinking cohorts have demanded richer, more flavorful beer with more unique ingredient composition.",
    "output": "[Cause] younger drinking cohorts have demanded richer, more flavorful beer with more unique ingredient composition [Relation] cause [Effect] Demographic shifts also play a nontrivial role in this phenomenon",
    "gold": "[Cause] younger drinking cohorts have demanded richer, more flavorful beer with more unique ingredient composition [Relation] cause [Effect] Demographic shifts also play a nontrivial role in this phenomenon",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Likewise, Littelfuse is expecting regulations supporting efficiency and safety to continue supporting demand for its products that could be impacted by political shifts in key regions.",
    "output": "[Cause] political shifts in key regions [Relation] cause [Effect] regulations supporting efficiency and safety to continue supporting demand for its products",
    "gold": "[Cause] political shifts in key regions [Relation] prevent [Effect] regulations supporting efficiency and safety to continue supporting demand for its products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the past few years, uncertainty around trade, weather, and agriculture commodity demand prevented farmers from replacing their machine fleet.",
    "output": "[Cause] uncertainty around trade, weather, and agriculture commodity demand [Relation] prevent [Effect] farmers from replacing their machine fleet",
    "gold": "[Cause] uncertainty around trade, weather, and agriculture commodity demand [Relation] prevent [Effect] farmers from replacing their machine fleet",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Skyworks achieves sales growth in the near term, we expect margin expansion so that the firm approaches its long-term target of 53%--we model this occurring in fiscal 2025.",
    "output": "[Cause] Skyworks achieves sales growth in the near term [Relation] cause [Effect] margin expansion so that the firm approaches its long-term target of 53%--we model this occurring in fiscal 2025",
    "gold": "[Cause] Skyworks achieves sales growth in the near term [Relation] cause [Effect] margin expansion so that the firm approaches its long-term target of 53%--we model this occurring in fiscal 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While there are some global beer brands (in Ambev's case, it markets AB InBev's global brands: Budweiser, Stella Artois and Corona) that benefit from global procurement and marketing, the majority of the industry is composed of brands with fairly limited geographic reach.",
    "output": "[Cause] global procurement and marketing [Relation] cause [Effect] there are some global beer brands (in Ambev's case, it markets AB InBev's global brands: Budweiser, Stella Artois and Corona) that benefit",
    "gold": "[Cause] there are some global beer brands (in Ambev's case, it markets AB InBev's global brands: Budweiser, Stella Artois [Relation] enable [Effect] benefit from global procurement and marketing",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These channel relationships may necessitate less reinvestment over time, which could allow the firm to win large deals at a lower cost.",
    "output": "[Cause] These channel relationships may necessitate less reinvestment over time [Relation] enable [Effect] the firm to win large deals at a lower cost",
    "gold": "[Cause] These channel relationships may necessitate less reinvestment over time [Relation] enable [Effect] the firm to win large deals at a lower cost",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thus, TIM is able to leverage its strong fixed-line infrastructure to meet demand in the mobile segment. As a result, TIM's combined fixed-line and wireless businesses in Italy generated an EBITDA margin of 40% in the past five years, one of the highest rates in Europe.",
    "output": "[Cause] TIM is able to leverage its strong fixed-line infrastructure to meet demand in the mobile segment [Relation] cause [Effect] TIM's combined fixed-line and wireless businesses in Italy generated an EBITDA margin of 40% in the past five years, one of the highest rates in Europe",
    "gold": "[Cause]  TIM is able to leverage its strong fixed-line infrastructure to meet demand in the mobile segment [Relation] cause [Effect]  TIM's combined fixed-line and wireless businesses in Italy generated an EBITDA margin of 40% in the past five years, one of the highest rates in Europe",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "GE's principal risk is related to COVID-19 fallout on its commercial aerospace business, including government interventions and acceleration of infections which ultimately affect both revenue passenger kilometers (demand) and load factors (utilization).",
    "output": "[Cause] COVID-19 fallout on its commercial aerospace business, including government interventions and acceleration of infections [Relation] cause [Effect] affect both revenue passenger kilometers (demand) and load factors (utilization)",
    "gold": "[Cause] COVID-19 fallout on its commercial aerospace business, including government interventions and acceleration of infections [Relation] cause [Effect] affect both revenue passenger kilometers (demand) and load factors (utilization)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "BHP's petroleum division earned a return of 12% at the peak of the boom in fiscal 2012, but earnings subsequently cratered with the lower oil and gas prices.",
    "output": "[Cause] earnings subsequently cratered with the lower oil and gas prices [Relation] cause [Effect] BHP's petroleum division earned a return of 12% at the peak of the boom in fiscal 2012",
    "gold": "[Cause] the lower oil and gas prices [Relation] cause [Effect] earnings subsequently cratered",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Moreover, the firm preserved its slice of the market by maintaining service levels despite pressure to cut costs--this has translated into a stellar reputation among shippers.",
    "output": "[Cause] maintaining service levels despite pressure to cut costs [Relation] enable [Effect] the firm preserved its slice of the market",
    "gold": "[Cause] the firm preserved its slice of the market by maintaining service levels despite pressure [Relation] cause [Effect]  cut costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Moreover, the firm preserved its slice of the market by maintaining service levels despite pressure to cut costs--this has translated into a stellar reputation among shippers.",
    "output": "[Cause] the firm preserved its slice of the market by maintaining service levels despite pressure to cut costs [Relation] enable [Effect] translated into a stellar reputation among shippers",
    "gold": "[Cause]  the firm preserved its slice of the market by maintaining service levels despite pressure to cut costs [Relation] enable [Effect] translated into a stellar reputation among shippers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After a period of significant turmoil in 2015-16, Bausch Health took steps to deleverage and stabilize the business, and we see more stable days ahead for the firm.",
    "output": "[Cause] a period of significant turmoil in 2015-16 [Relation] cause [Effect] Bausch Health took steps to deleverage and stabilize the business",
    "gold": "[Cause] a period of significant turmoil in 2015-16 [Relation] cause [Effect] Bausch Health took steps to deleverage and stabilize the business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "HCI, the combination of computing, storage, networking, and virtualization, is an emerging technology that IT professions are embracing because of its scalability and the convenience of discrete items merged into a single resource.",
    "output": "[Cause] its scalability and the convenience of discrete items merged into a single resource [Relation] cause [Effect] HCI, the combination of computing, storage, networking, and virtualization, is an emerging technology that IT professions are embracing",
    "gold": "[Cause]  its scalability and the convenience of discrete items merged into a single resource [Relation] cause [Effect] HCI, the combination of computing, storage, networking, and virtualization, is an emerging technology that IT professions are embracing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That declined to less than $0.40 per gigabyte in 2018 amid considerable investments from NAND players and we currently estimate it will continue to decrease to $0.10-$0.15 by 2022.",
    "output": "[Cause] considerable investments from NAND players [Relation] cause [Effect] declined to less than $0.40 per gigabyte in 2018",
    "gold": "[Cause] That declined to less than $0.40 per gigabyte in 2018 amid considerable investments from NAND players [Relation] cause [Effect] we currently estimate it will continue to decrease to $0.10-$0.15 by 2022",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These segments generate solid cash flow that Broadcom can subsequently use to maintain its competitive edge in core end markets by bolstering research and development as well as M&A.",
    "output": "[Cause] These segments generate solid cash flow [Relation] enable [Effect] Broadcom can subsequently use to maintain its competitive edge in core end markets by bolstering research and development as well as M&A",
    "gold": "[Cause] These segments generate solid cash flow [Relation] cause [Effect]  Broadcom can subsequently use to maintain its competitive edge in core end markets by bolstering research and development as well as M&A",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fee margins in wealth management should remain under pressure as competition heats up and the high transactional revenues of last year moderate.",
    "output": "[Cause] competition heats up and the high transactional revenues of last year moderate [Relation] cause [Effect] Fee margins in wealth management should remain under pressure",
    "gold": "[Cause] competition heats up and the high transactional revenues of last year moderate [Relation] enable [Effect] Fee margins in wealth management should remain under pressure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since the February merger announcement, Energy Transfer common units have risen almost 40% driven by an improved commodity outlook and Energy Transfer's recently announced $2.4 billion pretax gain from the winter storm in Texas.",
    "output": "[Cause] an improved commodity outlook and Energy Transfer's recently announced $2.4 billion pretax gain from the winter storm in Texas [Relation] cause [Effect] Energy Transfer common units have risen almost 40%",
    "gold": "[Cause] the February merger announcement [Relation] cause [Effect] Energy Transfer common units have risen almost 40% driven by an improved commodity outlook and Energy Transfer's recently announced $2.4 billion pretax gain from the winter storm in Texas",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe one of the more salient is the secular decline in carbonated soft drinks due to heightened social awareness around the potential health impacts.",
    "output": "[Cause] heightened social awareness around the potential health impacts [Relation] cause [Effect] one of the more salient is the secular decline in carbonated soft drinks",
    "gold": "[Cause] heightened social awareness around the potential health impacts [Relation] cause [Effect]  one of the more salient is the secular decline in carbonated soft drinks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the company encounters unexpected operational distress, the high leverage of the firm will compound any financial difficulties, which could lead to increased risk of bankruptcy.",
    "output": "[Cause] the company encounters unexpected operational distress [Relation] cause [Effect] compound any financial difficulties",
    "gold": "[Cause]  the high leverage of the firm [Relation] cause [Effect] compound any financial difficulties",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If the company encounters unexpected operational distress, the high leverage of the firm will compound any financial difficulties, which could lead to increased risk of bankruptcy.",
    "output": "[Cause] compound any financial difficulties [Relation] cause [Effect] increased risk of bankruptcy",
    "gold": "[Cause] compound any financial difficulties [Relation] cause [Effect] increased risk of bankruptcy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In order to offer its cardholders these larger lines, the firm controls its risk by adjusting the exact line size proactively based on spending patterns and payment history of the cardholder as well as requiring monthly payment.",
    "output": "[Cause] adjusting the exact line size proactively based on spending patterns and payment history of the cardholder as well as requiring monthly payment [Relation] enable [Effect] offer its cardholders these larger lines",
    "gold": "[Cause] offer its cardholders these larger lines [Relation] cause [Effect]  the firm controls its risk by adjusting the exact line size proactively based on spending patterns and payment history of the cardholder as well as requiring monthly payment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because Discover operates at a smaller scale than American Express, Citi, JPMorgan, and Capital One, it does not enjoy the same cost advantages of advertising on a national scale.",
    "output": "[Cause] Discover operates at a smaller scale than American Express, Citi, JPMorgan, and Capital One [Relation] cause [Effect] it does not enjoy the same cost advantages of advertising on a national scale",
    "gold": "[Cause] Discover operates at a smaller scale than American Express, Citi, JPMorgan, and Capital One [Relation] cause [Effect]  it does not enjoy the same cost advantages of advertising on a national scale",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have also tempered potential selling, general, and administrative gains, given higher spending ahead on elevating the perception of the core brands.",
    "output": "[Cause] higher spending ahead on elevating the perception of the core brands [Relation] cause [Effect] We have also tempered potential selling, general, and administrative gains",
    "gold": "[Cause] higher spending ahead on elevating the perception of the core brands [Relation] cause [Effect] We have also tempered potential selling, general, and administrative gains",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Amid fragmentation in consumer profiles and retail and marketing channels, along with lower barriers to entry for startups, most consumer staples multinationals are fighting strong organic growth headwinds, and many are cutting costs in order to spend to drive growth.",
    "output": "[Cause] Amid fragmentation in consumer profiles and retail and marketing channels, along with lower barriers to entry for startups [Relation] cause [Effect] most consumer staples multinationals are fighting strong organic growth headwinds",
    "gold": "[Cause] Amid fragmentation in consumer profiles and retail and marketing channels, along with lower barriers to entry for startups [Relation] cause [Effect] most consumer staples multinationals are fighting strong organic growth headwinds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Amid fragmentation in consumer profiles and retail and marketing channels, along with lower barriers to entry for startups, most consumer staples multinationals are fighting strong organic growth headwinds, and many are cutting costs in order to spend to drive growth.",
    "output": "[Cause] spend to drive growth [Relation] cause [Effect] cutting costs",
    "gold": "[Cause] cutting costs [Relation] enable [Effect] spend to drive growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Fibre cement siding possesses durability advantages and superior aesthetics over vinyl cladding, leading to vinyl's market share eroding to about 26% today from around 39% in 2003.",
    "output": "[Cause] Fibre cement siding possesses durability advantages and superior aesthetics over vinyl cladding [Relation] cause [Effect] vinyl's market share eroding to about 26% today from around 39% in 2003",
    "gold": "[Cause] Fibre cement siding possesses durability advantages and superior aesthetics over vinyl cladding [Relation] cause [Effect] vinyl's market share eroding to about 26% today from around 39% in 2003",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Potential customers can visit the company's website, download the software, and be up and running within minutes, reinforcing the \"\"\"\"frictionless\"\"\"\" message the company espouses.",
    "output": "[Cause] Potential customers can visit the company's website, download the software, and be up and running within minutes [Relation] enable [Effect] reinforcing the \"\"\"\"frictionless\"\"\" message the company espouses",
    "gold": "[Cause] Potential customers can visit the company's website, download the software, and be up and running within minutes [Relation] enable [Effect]  reinforcing the \"\"\"\"frictionless\"\"\"\" message the company espouses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "More so than some peers upmarket, Paylocity could see potential increases in customer churn as its key market of small to medium-size businesses is more vulnerable to business failure during a downturn.",
    "output": "[Cause] its key market of small to medium-size businesses is more vulnerable to business failure during a downturn [Relation] cause [Effect] Paylocity could see potential increases in customer churn",
    "gold": "[Cause] its key market of small to medium-size businesses is more vulnerable to business failure during a downturn [Relation] cause [Effect] Paylocity could see potential increases in customer churn",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Predictive maintenance further allows for reduced enterprise risk, while analytics helps customer products get to market faster through optimized throughput.",
    "output": "[Cause] Predictive maintenance [Relation] enable [Effect] reduced enterprise risk",
    "gold": "[Cause] Predictive maintenance [Relation] cause [Effect]  reduced enterprise risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A dealer is at risk of selling vehicles with an open recall, but that risk is not unique to Asbury and some lost vehicle sales from a recall can be recouped with more service business as owners of the recalled vehicle get it repaired at the dealer.",
    "output": "[Cause] owners of the recalled vehicle get it repaired at the dealer [Relation] cause [Effect] some lost vehicle sales from a recall can be recouped with more service business",
    "gold": "[Cause] owners of the recalled vehicle get it repaired at the dealer [Relation] enable [Effect] some lost vehicle sales from a recall can be recouped with more service business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It has become more economically attractive to encourage patients to use any low-cost producer (in place of the more expensive hospital-based labs) instead of pitting LabCorp and Quest against each other to eke out savings that also reduce patient access to lower-cost tests.",
    "output": "[Cause] encourage patients to use any low-cost producer (in place of the more expensive hospital-based labs) instead of pitting LabCorp and Quest against each other to eke out savings [Relation] enable [Effect] reduce patient access to lower-cost tests",
    "gold": "[Cause] encourage patients to use any low-cost producer (in place of the more expensive hospital-based labs) instead of pitting LabCorp and Quest against each other to eke out savings [Relation] enable [Effect] reduce patient access to lower-cost tests",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we applaud conservative investing in a historically poorly performing segment, we fear Patterson may be further edged out of the market as more successful competitors offer pressure-pumping services more in line with customer demand.",
    "output": "[Cause] more successful competitors offer pressure-pumping services more in line with customer demand [Relation] cause [Effect] Patterson may be further edged out of the market",
    "gold": "[Cause] more successful competitors offer pressure-pumping services more in line with customer demand [Relation] cause [Effect]  Patterson may be further edged out of the market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, PGIM only accounts for just over 10% of its operating profit and thus the life insurance business dominates Prudential's overall results.",
    "output": "[Cause] PGIM only accounts for just over 10% of its operating profit [Relation] cause [Effect] the life insurance business dominates Prudential's overall results",
    "gold": "[Cause] PGIM only accounts for just over 10% of its operating profit [Relation] enable [Effect]  the life insurance business dominates Prudential's overall results",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cardholders who have existing balances are usually considered comparatively more risky by competing issuers and usually cannot lower their interest rate by consolidating with another credit card issuer, since transferring a balance often results in a higher or comparable rate.",
    "output": "[Cause] transferring a balance often results in a higher or comparable rate [Relation] cause [Effect] Cardholders who have existing balances are usually considered comparatively more risky by competing issuers and usually cannot lower their interest rate by consolidating with another credit card issuer",
    "gold": "[Cause] transferring a balance [Relation] cause [Effect] a higher or comparable rate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If intellectual property rights have been violated, this can result in sales injunctions where competitors are required to stop selling the product.",
    "output": "[Cause] intellectual property rights have been violated [Relation] cause [Effect] sales injunctions where competitors are required to stop selling the product",
    "gold": "[Cause] intellectual property rights have been violated [Relation] cause [Effect] sales injunctions where competitors are required to stop selling the product",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Longer term, with its stringent focus on extracting costs, we think the firm remains committed to fueling addditional brand spending (which we forecast will amount to 6% of sales over the next 10 years, or about $400 million annually, up from 5% on average the past three years).",
    "output": "[Cause] its stringent focus on extracting costs [Relation] cause [Effect] the firm remains committed to fueling addditional brand spending",
    "gold": "[Cause] its stringent focus on extracting costs [Relation] enable [Effect] the firm remains committed to fueling addditional brand spending",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Most company-owned stores and those of its wholesale partners were forced to close temporarily or restrict access, leading to large losses in the first half of 2020.",
    "output": "[Cause] Most company-owned stores and those of its wholesale partners were forced to close temporarily or restrict access [Relation] cause [Effect] large losses in the first half of 2020",
    "gold": "[Cause] Most company-owned stores and those of its wholesale partners were forced to close temporarily or restrict access [Relation] cause [Effect]  large losses in the first half of 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we think that the firm will find it difficult to compete in the increasingly tight market for talent within television production as it no longer owns platforms for edgier content, similar to the way its predecessor used FX and FXX (now part of Disney).",
    "output": "[Cause] it no longer owns platforms for edgier content, similar to the way its predecessor used FX and FXX (now part of Disney) [Relation] cause [Effect] the firm will find it difficult to compete in the increasingly tight market for talent within television production",
    "gold": "[Cause]  it no longer owns platforms for edgier content, similar to the way its predecessor used FX and FXX (now part of Disney) [Relation] cause [Effect] the firm will find it difficult to compete in the increasingly tight market for talent within television production",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With an enviable growth profile and best of breed margins, we have confidence that the beer business can thrive even amid an evolving industry landscape.",
    "output": "[Cause] an enviable growth profile and best of breed margins [Relation] enable [Effect] the beer business can thrive even amid an evolving industry landscape",
    "gold": "[Cause] an enviable growth profile and best of breed margins [Relation] enable [Effect] the beer business can thrive even amid an evolving industry landscape",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're positive regarding the future for autonomous undersea vehicles, as they are far cheaper than traditional ships, which allows them to operate in a distributed manner, and we anticipate that they will eventually be able to perform many of the intelligence-gathering and payload delivery functions of traditional ships.",
    "output": "[Cause] they are far cheaper than traditional ships, which allows them to operate in a distributed manner [Relation] cause [Effect] We're positive regarding the future for autonomous undersea vehicles",
    "gold": "[Cause]  far cheaper than traditional ships [Relation] enable [Effect] allows them to operate in a distributed manner",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the segment suffered a 35% sales decline in 2020 due to the virus, we expect 32% sales growth in 2021 as the economy improves and stores operate a full capacity.",
    "output": "[Cause] the virus [Relation] cause [Effect] the segment suffered a 35% sales decline in 2020",
    "gold": "[Cause] the virus [Relation] cause [Effect]  the segment suffered a 35% sales decline in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the segment suffered a 35% sales decline in 2020 due to the virus, we expect 32% sales growth in 2021 as the economy improves and stores operate a full capacity.",
    "output": "[Cause] the economy improves and stores operate a full capacity [Relation] cause [Effect] 32% sales growth in 2021",
    "gold": "[Cause] the economy improves and stores operate a full capacity [Relation] enable [Effect] 32% sales growth in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "BorgWarner's ability to consistently innovate provides long-term pricing opportunities that, in conjunction with cost advantages derived from low-cost country locations, should support above-industry-average EBITDA margins.",
    "output": "[Cause] cost advantages derived from low-cost country locations [Relation] enable [Effect] support above-industry-average EBITDA margins",
    "gold": "[Cause] cost advantages derived from low-cost country locations [Relation] cause [Effect] support above-industry-average EBITDA margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "LoyaltyOne generates enough operating income to cover the parent company's interest payments, but there is limited prospect of principal reduction without continued distributions from the two underlying banks, especially considering LoyaltyOne's lack of growth.",
    "output": "[Cause] continued distributions from the two underlying banks [Relation] cause [Effect] there is limited prospect of principal reduction",
    "gold": "[Cause] continued distributions from the two underlying banks [Relation] enable [Effect] LoyaltyOne generates enough operating income to cover the parent company's interest payments",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With the bank's preference to maintain a high liquidity position by raising deposits ahead of lending, we expect deposit growth to match loan growth in our forecast period.",
    "output": "[Cause] raising deposits ahead of lending [Relation] enable [Effect] maintain a high liquidity position",
    "gold": "[Cause] raising deposits ahead of lending [Relation] enable [Effect] maintain a high liquidity position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the bank's preference to maintain a high liquidity position by raising deposits ahead of lending, we expect deposit growth to match loan growth in our forecast period.",
    "output": "[Cause] raising deposits ahead of lending [Relation] enable [Effect] maintain a high liquidity position",
    "gold": "[Cause] high liquidity position [Relation] cause [Effect] deposit growth to match loan growth in our forecast period",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Shell's upstream cost position deteriorated during 2010-14 as higher spending on capital-intensive projects such as LNG weighed on returns and costs increased at a greater rate than commodity prices, eroding margins.",
    "output": "[Cause] higher spending on capital-intensive projects such as LNG weighed on returns and costs increased at a greater rate than commodity prices [Relation] cause [Effect] Shell's upstream cost position deteriorated during 2010-14",
    "gold": "[Cause] costs increased at a greater rate than commodity prices [Relation] cause [Effect] eroding margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Shell's upstream cost position deteriorated during 2010-14 as higher spending on capital-intensive projects such as LNG weighed on returns and costs increased at a greater rate than commodity prices, eroding margins.",
    "output": "[Cause] higher spending on capital-intensive projects such as LNG weighed on returns and costs increased at a greater rate than commodity prices [Relation] cause [Effect] eroding margins",
    "gold": "[Cause] higher spending on capital-intensive projects such as LNG [Relation] prevent [Effect] returns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Shell's upstream cost position deteriorated during 2010-14 as higher spending on capital-intensive projects such as LNG weighed on returns and costs increased at a greater rate than commodity prices, eroding margins.",
    "output": "[Cause] costs increased at a greater rate than commodity prices [Relation] cause [Effect] eroding margins",
    "gold": "[Cause] weighed on returns [Relation] cause [Effect] Shell's upstream cost position deteriorated during 2010-14",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "History suggests that carriers hesitate to leave towers that they are on, as non-consolidation-related churn for SBA has consistently been under one percent for the last several years.",
    "output": "[Cause] non-consolidation-related churn for SBA has consistently been under one percent for the last several years [Relation] cause [Effect] carriers hesitate to leave towers that they are on",
    "gold": "[Cause] non-consolidation-related churn for SBA has consistently been under one percent for the last several years [Relation] cause [Effect] carriers hesitate to leave towers that they are on",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the global automation market Rockwell serves will grow in the midsingle digits based on rapidly increasing demand for fast production capacities, as well as innovative solutions.",
    "output": "[Cause] rapidly increasing demand for fast production capacities, as well as innovative solutions [Relation] cause [Effect] the global automation market Rockwell serves will grow in the midsingle digits",
    "gold": "[Cause] rapidly increasing demand for fast production capacities, as well as innovative solutions [Relation] cause [Effect] the global automation market Rockwell serves will grow in the midsingle digits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Verizon has been a leader in deploying the latest network technologies and it has the resources to make major investments, which we think will insulate it from unexpected changes in the future.",
    "output": "[Cause] it has the resources to make major investments [Relation] enable [Effect] insulate it from unexpected changes in the future",
    "gold": "[Cause] it has the resources to make major investments [Relation] enable [Effect]  insulate it from unexpected changes in the future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect additional contribution from management's corporate G&A reduction efforts and the elimination of unprofitable Tim Hortons stores to be offset by COVID-19-related operating expense deleverage, resulting in a modest decrease in 2020 consolidated adjusted pro forma EBITDA margins to 38.7% (versus 41.1% in 2019).",
    "output": "[Cause] additional contribution from management's corporate G&A reduction efforts and the elimination of unprofitable Tim Hortons stores to be offset by COVID-19-related operating expense deleverage [Relation] cause [Effect] a modest decrease in 2020 consolidated adjusted pro forma EBITDA margins to 38.7% (versus 41.1% in 2019)",
    "gold": "[Cause] additional contribution from management's corporate G&A reduction efforts and the elimination of unprofitable Tim Hortons stores to be offset by COVID-19-related operating expense deleverage [Relation] cause [Effect] a modest decrease in 2020 consolidated adjusted pro forma EBITDA margins to 38.7% (versus 41.1% in 2019)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Equitrans has one of the higher-quality revenue mixes in our coverage, as over 50% of its revenue comes from firm fixed-fee contracts that are take or pay with average lengths of about 15 years.",
    "output": "[Cause] over 50% of its revenue comes from firm fixed-fee contracts that are take or pay with average lengths of about 15 years [Relation] cause [Effect] Equitrans has one of the higher-quality revenue mixes in our coverage",
    "gold": "[Cause] over 50% of its revenue comes from firm fixed-fee contracts that are take or pay with average lengths of about 15 years [Relation] cause [Effect] Equitrans has one of the higher-quality revenue mixes in our coverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Carrier offers customers service and maintenance programs through a network of hundreds of service and parts locations worldwide, which can prevent downtime.",
    "output": "[Cause] Carrier offers customers service and maintenance programs through a network of hundreds of service and parts locations worldwide [Relation] prevent [Effect] downtime",
    "gold": "[Cause] Carrier offers customers service and maintenance programs through a network of hundreds of service and parts locations worldwide [Relation] prevent [Effect] downtime",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the necessity of cloud service providers to the model drives those companies to become competitors or technological advances lead to tenants needing less space, Equinix could find itself with too much capacity.",
    "output": "[Cause] the necessity of cloud service providers to the model [Relation] cause [Effect] those companies to become competitors",
    "gold": "[Cause]  the necessity of cloud service providers to the model [Relation] cause [Effect]  those companies to become competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the necessity of cloud service providers to the model drives those companies to become competitors or technological advances lead to tenants needing less space, Equinix could find itself with too much capacity.",
    "output": "[Cause] the necessity of cloud service providers to the model [Relation] cause [Effect] Equinix could find itself with too much capacity",
    "gold": "[Cause] echnological advances [Relation] cause [Effect]  tenants needing less space",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If the necessity of cloud service providers to the model drives those companies to become competitors or technological advances lead to tenants needing less space, Equinix could find itself with too much capacity.",
    "output": "[Cause] the necessity of cloud service providers to the model [Relation] cause [Effect] Equinix could find itself with too much capacity",
    "gold": "[Cause]  the necessity of cloud service providers to the model  |  those companies to become competitors  | echnological advances |  tenants needing less space [Relation] enable [Effect] Equinix could find itself with too much capacity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe that the largest benefits of consolidated purchasing have been realized, with future incremental margin benefits tapering down, while a shift toward greater online penetration will be attached with greater IT and logistical costs.",
    "output": "[Cause] the largest benefits of consolidated purchasing have been realized, with future incremental margin benefits tapering down [Relation] cause [Effect] a shift toward greater online penetration will be attached with greater IT and logistical costs",
    "gold": "[Cause]  a shift toward greater online penetration [Relation] enable [Effect] greater IT and logistical costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Unlike OTC drugs, store-brand penetration in some product categories remains relatively small, and Perrigo will likely seek to leverage its store-brand retailing expertise to expand into new markets.",
    "output": "[Cause] store-brand penetration in some product categories remains relatively small [Relation] cause [Effect] Perrigo will likely seek to leverage its store-brand retailing expertise to expand into new markets",
    "gold": "[Cause] store-brand penetration in some product categories remains relatively small [Relation] cause [Effect] Perrigo will likely seek to leverage its store-brand retailing expertise to expand into new markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the healthcare and life sciences business, we expect Ecolab will continue to grow revenue faster than the rest of the company over the next several years as this business makes a push to expand its presence selling products and services to the healthcare and pharmaceutical end markets.",
    "output": "[Cause] this business makes a push to expand its presence selling products and services to the healthcare and pharmaceutical end markets [Relation] cause [Effect] Ecolab will continue to grow revenue faster than the rest of the company over the next several years",
    "gold": "[Cause] this business makes a push to expand its presence selling products and services to the healthcare and pharmaceutical end markets [Relation] enable [Effect] Ecolab will continue to grow revenue faster than the rest of the company over the next several years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, despite an easy comparison, we expect sales growth of only 6% for Gap Global in 2021 as some sales are lost from permanent store closures.",
    "output": "[Cause] some sales are lost from permanent store closures [Relation] cause [Effect] sales growth of only 6% for Gap Global in 2021",
    "gold": "[Cause] some sales are lost from permanent store closures [Relation] cause [Effect]  sales growth of only 6% for Gap Global in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Similarly, the company's exposure to power semis allows it to benefit from trends in the electronics industry toward power conservation, not only in more efficient devices like industrial drives, but also in green energy solutions like solar panels.",
    "output": "[Cause] the company's exposure to power semis [Relation] enable [Effect] it to benefit from trends in the electronics industry toward power conservation",
    "gold": "[Cause] the company's exposure to power semis [Relation] enable [Effect] it to benefit from trends in the electronics industry toward power conservation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the firm has already has moderate international brick-and-mortar exposure at this point, we assume that new location growth overseas will be taken on methodically.",
    "output": "[Cause] the firm has already has moderate international brick-and-mortar exposure at this point [Relation] cause [Effect] new location growth overseas will be taken on methodically",
    "gold": "[Cause] the firm has already has moderate international brick-and-mortar exposure at this point [Relation] cause [Effect] new location growth overseas will be taken on methodically",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In reality, we believe this manifests in numerous ways, not least of which is the fact that Coca-Cola Femsa is forced to operate at the most capital-intensive part of the supply chain, achieving significantly lower margins and economic profits.",
    "output": "[Cause] Coca-Cola Femsa is forced to operate at the most capital-intensive part of the supply chain [Relation] cause [Effect] significantly lower margins and economic profits",
    "gold": "[Cause] Coca-Cola Femsa is forced to operate at the most capital-intensive part of the supply chain [Relation] cause [Effect]  significantly lower margins and economic profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast marketing to tick up to nearly 6% on average over the next 10 years (above the 4.9% on average the last three years) and research and development to approximate 1.8% of sales (about $160 million a year, or about 60 basis points above the three-year average). This results in average operating margins of nearly 18% over the next 10 years (60 basis points above the prior 10-year average).",
    "output": "[Cause] marketing to tick up to nearly 6% on average over the next 10 years (above the 4.9% on average the last three years) and research and development to approximate 1.8% of sales (about $160 million a year, or about 60 basis points above the three-year average) [Relation] cause [Effect] average operating margins of nearly 18% over the next 10 years (60 basis points above the prior 10-year average)",
    "gold": "[Cause] marketing to tick up to nearly 6% on average over the next 10 years (above the 4.9% on average the last three years) and research and development to approximate 1.8% of sales (about $160 million a year, or about 60 basis points above the three-year average) [Relation] cause [Effect]  average operating margins of nearly 18% over the next 10 years (60 basis points above the prior 10-year average)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of the company's web-based sales model, its sales and marketing expenses are among the lowest among enterprise software peers, leading to solid non-IFRS margins.",
    "output": "[Cause] the company's web-based sales model [Relation] cause [Effect] its sales and marketing expenses are among the lowest among enterprise software peers",
    "gold": "[Cause] the company's web-based sales model [Relation] cause [Effect] its sales and marketing expenses are among the lowest among enterprise software peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of the company's web-based sales model, its sales and marketing expenses are among the lowest among enterprise software peers, leading to solid non-IFRS margins.",
    "output": "[Cause] its sales and marketing expenses are among the lowest among enterprise software peers [Relation] cause [Effect] solid non-IFRS margins",
    "gold": "[Cause] the company's web-based sales model [Relation] enable [Effect] solid non-IFRS margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "All the while, prices of IGBTs and MOSFETs can be as low as a few cents, so any upstart or challenger would struggle to undercut Infineon on price while still generating an adequate return on investment. This last point is probably why a firm with significant excess capacity like Texas Instruments, for example, is likely to stay out of this market.",
    "output": "[Cause] prices of IGBTs and MOSFETs can be as low as a few cents, so any upstart or challenger would struggle to undercut Infineon on price while still generating an adequate return on investment [Relation] cause [Effect] a firm with significant excess capacity like Texas Instruments, for example, is likely to stay out of this market",
    "gold": "[Cause] prices of IGBTs and MOSFETs can be as low as a few cents, so any upstart or challenger would struggle to undercut Infineon on price while still generating an adequate return on investment [Relation] cause [Effect]  a firm with significant excess capacity like Texas Instruments, for example, is likely to stay out of this market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, fluid ends used in hydraulic fracturing pumps need to be replaced frequently due to their exposure to corrosive fluids and abrasive proppants. This leads to a substantial recurring revenue opportunity, as the total aftermarket sales throughout a product's life span can represent a multiple of the initial cost outlay.",
    "output": "[Cause] fluid ends used in hydraulic fracturing pumps need to be replaced frequently due to their exposure to corrosive fluids and abrasive proppants [Relation] cause [Effect] a substantial recurring revenue opportunity, as the total aftermarket sales throughout a product's life span can represent a multiple of the initial cost outlay",
    "gold": "[Cause] fluid ends used in hydraulic fracturing pumps need to be replaced frequently due to their exposure to corrosive fluids and abrasive proppants [Relation] cause [Effect] a substantial recurring revenue opportunity, as the total aftermarket sales throughout a product's life span can represent a multiple of the initial cost outlay",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The global infant nutrition market is characterised by low private-label penetration, reflecting the high degree of brand loyalty in the category and resulting in opportunities for higher profit margins, a consequence of pricing power.",
    "output": "[Cause] The global infant nutrition market is characterised by low private-label penetration [Relation] cause [Effect] opportunities for higher profit margins, a consequence of pricing power",
    "gold": "[Cause] consequence of pricing power [Relation] enable [Effect] the high degree of brand loyalty in the category and resulting in opportunities for higher profit margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Enterprise storage provides a significant opportunity for the firm in the near-term, with nearline or business critical storage demands increasing, but should energy efficiency concerns within data centers and hyperscale cloud players increase, this opportunity may quickly evaporate.",
    "output": "[Cause] energy efficiency concerns within data centers and hyperscale cloud players increase [Relation] cause [Effect] this opportunity may quickly evaporate",
    "gold": "[Cause] energy efficiency concerns within data centers and hyperscale cloud players increase [Relation] cause [Effect]  this opportunity may quickly evaporate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect 2021 levels of capacity will be roughly 63% of 2019 levels, roughly somewhat lower than peer carriers as international travel and business travel remain depressed.",
    "output": "[Cause] international travel and business travel remain depressed [Relation] cause [Effect] 2021 levels of capacity will be roughly 63% of 2019 levels, roughly somewhat lower than peer carriers",
    "gold": "[Cause] international travel and business travel remain depressed [Relation] cause [Effect] 2021 levels of capacity will be roughly 63% of 2019 levels, roughly somewhat lower than peer carriers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our projected EBITDA margin expansion—a total of about 100 basis points from 2020 to 2025—results from both wireless and wireline growing by about that amount.",
    "output": "[Cause] wireless and wireline growing by about that amount [Relation] cause [Effect] Our projected EBITDA margin expansion—a total of about 100 basis points from 2020 to 2025",
    "gold": "[Cause] Our projected EBITDA margin expansion—a total of about 100 basis points from 2020 to 2025 [Relation] cause [Effect] results from both wireless and wireline growing by about that amount",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We recognize that Dexcom has made progress on this front with its therapeutic indication, which means the patient can make treatment decisions based on G6 readings without confirming the blood glucose levels with a traditional meter.",
    "output": "[Cause] Dexcom has made progress on this front with its therapeutic indication [Relation] enable [Effect] the patient can make treatment decisions based on G6 readings without confirming the blood glucose levels with a traditional meter",
    "gold": "[Cause] Dexcom has made progress on this front with its therapeutic indication [Relation] enable [Effect]  the patient can make treatment decisions based on G6 readings without confirming the blood glucose levels with a traditional meter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since deal size is increasing, it is possible that a couple of large deals leaking into the next several quarters could cause a quarterly miss.",
    "output": "[Cause] deal size is increasing [Relation] cause [Effect] a couple of large deals leaking into the next several quarters could cause a quarterly miss",
    "gold": "[Cause] deal size is increasing [Relation] cause [Effect] a couple of large deals leaking into the next several quarters could cause a quarterly miss",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While resources are rarely an issue for Vodafone, government control of spectrum licensing still often acts to limit the size of the firm's competitive advantage.",
    "output": "[Cause] government control of spectrum licensing [Relation] prevent [Effect] the size of the firm's competitive advantage",
    "gold": "[Cause] government control of spectrum licensing [Relation] prevent [Effect] the size of the firm's competitive advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Novo's pipeline productivity has also made older, human insulin therapies less desirable for patients, and more than 80% of the firm's insulin sales today derive from modern and next-generation insulin analogs.",
    "output": "[Cause] Novo's pipeline productivity [Relation] cause [Effect] older, human insulin therapies less desirable for patients",
    "gold": "[Cause] Novo's pipeline productivity [Relation] cause [Effect] older, human insulin therapies less desirable for patients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The market services business remains a key part of Nasdaq's overall business, as it is the foundation for much of the company's other segments: information services, market technology, and corporate services.",
    "output": "[Cause] it is the foundation for much of the company's other segments: information services, market technology, and corporate services [Relation] cause [Effect] The market services business remains a key part of Nasdaq's overall business",
    "gold": "[Cause] it is the foundation for much of the company's other segments: information services, market technology, and corporate services [Relation] cause [Effect] The market services business remains a key part of Nasdaq's overall business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the elimination of incentive distribution rights, we reduced our uncertainty rating to medium from high, reflecting a narrower range of outcomes without the IDR cash flow burden.",
    "output": "[Cause] the elimination of incentive distribution rights [Relation] cause [Effect] we reduced our uncertainty rating to medium from high",
    "gold": "[Cause] the elimination of incentive distribution rights [Relation] cause [Effect] we reduced our uncertainty rating to medium from high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the top line, we expect relatively flat revenue in 2021 despite increased aircraft sales as suppliers destock current inventory before ordering new composites.",
    "output": "[Cause] suppliers destock current inventory before ordering new composites [Relation] cause [Effect] relatively flat revenue in 2021 despite increased aircraft sales",
    "gold": "[Cause] suppliers destock current inventory before ordering new composites [Relation] cause [Effect]  relatively flat revenue in 2021 despite increased aircraft sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Unfortunately, we think Macy's large fleet of more than 600 full-line stores and more than 100 million square feet of selling space limits its options.",
    "output": "[Cause] Macy's large fleet of more than 600 full-line stores and more than 100 million square feet of selling space [Relation] prevent [Effect] its options",
    "gold": "[Cause] Macy's large fleet of more than 600 full-line stores and more than 100 million square feet of selling space [Relation] prevent [Effect] its options",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect amortization to gradually decrease as a percent of sales, as intangible assets continue to decline on the balance sheet as they are amortized.",
    "output": "[Cause] intangible assets continue to decline on the balance sheet as they are amortized [Relation] cause [Effect] amortization to gradually decrease as a percent of sales",
    "gold": "[Cause]  intangible assets continue to decline on the balance sheet as they are amortized [Relation] cause [Effect] amortization to gradually decrease as a percent of sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Having a reputation for reliability is imperative in this segment, as the equipment often performs a mission-critical function (for instance, pumps for wastewater treatment facilities).",
    "output": "[Cause] the equipment often performs a mission-critical function [Relation] cause [Effect] Having a reputation for reliability is imperative in this segment",
    "gold": "[Cause] the equipment often performs a mission-critical function [Relation] cause [Effect] Having a reputation for reliability is imperative in this segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect that mix shift toward the high-margin 737 MAX and learning curve-based cost efficiencies should help the company improve margins.",
    "output": "[Cause] mix shift toward the high-margin 737 MAX and learning curve-based cost efficiencies [Relation] enable [Effect] the company improve margins",
    "gold": "[Cause] mix shift toward the high-margin 737 MAX and learning curve-based cost efficiencies [Relation] enable [Effect] the company improve margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customer penetration and revenue per customer are both below average, which should provide some growth potential at very attractive returns on incremental investment.",
    "output": "[Cause] Customer penetration and revenue per customer are both below average [Relation] enable [Effect] provide some growth potential at very attractive returns on incremental investment",
    "gold": "[Cause] Customer penetration and revenue per customer are both below average [Relation] enable [Effect] provide some growth potential at very attractive returns on incremental investment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We increased our fair value estimate about 4% to $50 per share due to our upward-revised 10-year housing starts forecast.",
    "output": "[Cause] our upward-revised 10-year housing starts forecast [Relation] cause [Effect] We increased our fair value estimate about 4% to $50 per share",
    "gold": "[Cause] our upward-revised 10-year housing starts forecast [Relation] cause [Effect] We increased our fair value estimate about 4% to $50 per share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sticky market share and cost advantages result from Lear's global engineering, its global manufacturing footprint, as well as its long-term highly integrated customer relationships.",
    "output": "[Cause] Lear's global engineering, its global manufacturing footprint, as well as its long-term highly integrated customer relationships [Relation] cause [Effect] Sticky market share and cost advantages",
    "gold": "[Cause] Lear's global engineering, its global manufacturing footprint, as well as its long-term highly integrated customer relationships [Relation] cause [Effect] Sticky market share and cost advantages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As an insurer outstrips competitors in size, the fixed cost base of administering policies becomes spread over a larger number of policies.",
    "output": "[Cause] an insurer outstrips competitors in size [Relation] cause [Effect] the fixed cost base of administering policies becomes spread over a larger number of policies",
    "gold": "[Cause] an insurer outstrips competitors in size [Relation] cause [Effect] the fixed cost base of administering policies becomes spread over a larger number of policies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Importantly, a retail segment provides opportunities to blend biofuel and create RINs, defraying a cost incurred by the refining operation.",
    "output": "[Cause] a retail segment provides opportunities to blend biofuel and create RINs [Relation] enable [Effect] defraying a cost incurred by the refining operation",
    "gold": "[Cause] a retail segment provides opportunities to blend biofuel and create RINs [Relation] enable [Effect] defraying a cost incurred by the refining operation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we see this as a very long-term risk, if sequencing standards change, Qiagen's related products may be threatened as well.",
    "output": "[Cause] sequencing standards change [Relation] cause [Effect] Qiagen's related products may be threatened as well",
    "gold": "[Cause] sequencing standards change [Relation] cause [Effect] Qiagen's related products may be threatened as well",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Sandvik's leading market positions across its machining and niche mining segments allows the company to utilize its existing close relationships with customers to gain a greater share of wallet.",
    "output": "[Cause] Sandvik's leading market positions across its machining and niche mining segments [Relation] enable [Effect] the company to utilize its existing close relationships with customers to gain a greater share of wallet",
    "gold": "[Cause] Sandvik's leading market positions across its machining and niche mining segments [Relation] enable [Effect] the company to utilize its existing close relationships with customers to gain a greater share of wallet",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, each individual order has a fixed-cost component, and so the incremental costs of managing multiple product orders would mitigate any potential savings for the customer. This allows Reliance to earn a modest degree of economic rent, helping the company maintain profitability through the business cycle.",
    "output": "[Cause] each individual order has a fixed-cost component, and so the incremental costs of managing multiple product orders would mitigate any potential savings for the customer [Relation] enable [Effect] Reliance to earn a modest degree of economic rent, helping the company maintain profitability through the business cycle",
    "gold": "[Cause] each individual order has a fixed-cost component, and so the incremental costs of managing multiple product orders would mitigate any potential savings for the customer [Relation] enable [Effect] Reliance to earn a modest degree of economic rent, helping the company maintain profitability through the business cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think capital expenditures will be roughly $3 billion per year at midcycle, about a billion less than the trailing five-year average, due to the airline having completed its fleet renewal.",
    "output": "[Cause] the airline having completed its fleet renewal [Relation] cause [Effect] capital expenditures will be roughly $3 billion per year at midcycle, about a billion less than the trailing five-year average",
    "gold": "[Cause]  the airline having completed its fleet renewal [Relation] cause [Effect]  capital expenditures will be roughly $3 billion per year at midcycle, about a billion less than the trailing five-year average",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The value of airfreight declines with distance, while production shifts to other emerging geographies moves freight demand to nonmajor trade lanes where transportation infrastructure is often less developed.",
    "output": "[Cause] production shifts to other emerging geographies [Relation] cause [Effect] freight demand to nonmajor trade lanes where transportation infrastructure is often less developed",
    "gold": "[Cause] The value of airfreight declines with distance [Relation] cause [Effect] production shifts to other emerging geographies moves freight demand to nonmajor trade lanes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We model a roughly 150-basis-point operating margin expansion from 2019 levels in the welding business, to management's long-term target of around 15%, driven by volume leverage, mix shift, and ongoing productivity initiatives.",
    "output": "[Cause] volume leverage, mix shift, and ongoing productivity initiatives [Relation] cause [Effect] We model a roughly 150-basis-point operating margin expansion from 2019 levels in the welding business, to management's long-term target of around 15%",
    "gold": "[Cause] volume leverage, mix shift, and ongoing productivity initiatives [Relation] cause [Effect] We model a roughly 150-basis-point operating margin expansion from 2019 levels in the welding business, to management's long-term target of around 15%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast gross margins to rise to more than 37% over our explicit forecast, as the company's strategic merchandising efforts generate an improvement, tempered by incentives (free/fast shipping, discounts for college students, beyond-plus program) that persist.",
    "output": "[Cause] the company's strategic merchandising efforts generate an improvement, tempered by incentives (free/fast shipping, discounts for college students, beyond-plus program) that persist [Relation] cause [Effect] gross margins to rise to more than 37% over our explicit forecast",
    "gold": "[Cause] the company's strategic merchandising efforts generate an improvement, tempered by incentives (free/fast shipping, discounts for college students, beyond-plus program) that persist [Relation] enable [Effect] gross margins to rise to more than 37% over our explicit forecast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, as Jimmy Choo is best known for shoes and Versace for high fashion apparel, it may be difficult for either to compete against established handbag brands.",
    "output": "[Cause] Jimmy Choo is best known for shoes and Versace for high fashion apparel [Relation] cause [Effect] it may be difficult for either to compete against established handbag brands",
    "gold": "[Cause] Jimmy Choo is best known for shoes and Versace for high fashion apparel [Relation] cause [Effect] it may be difficult for either to compete against established handbag brands",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Microbreweries have been taking share from established craft players like Boston Beer, as parochial preferences seem to be driving many consumers toward locally produced beers with small and homely essences.",
    "output": "[Cause] parochial preferences seem to be driving many consumers toward locally produced beers with small and homely essences [Relation] cause [Effect] Microbreweries have been taking share from established craft players like Boston Beer",
    "gold": "[Cause] parochial preferences seem to be driving many consumers toward locally produced beers with small and homely essences [Relation] cause [Effect] Microbreweries have been taking share from established craft players like Boston Beer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If Bausch is unable to generate a consistent pipeline of patented drugs, sales would wane, and returns could fall below costs of capital.",
    "output": "[Cause] Bausch is unable to generate a consistent pipeline of patented drugs [Relation] cause [Effect] sales would wane, and returns could fall below costs of capital",
    "gold": "[Cause] Bausch is unable to generate a consistent pipeline of patented drugs [Relation] cause [Effect] sales would wane, and returns could fall below costs of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Subsequent acquisitions have also proven smart, as initial well productivity in the Permian has improved about 50% since 2016, when Viper began its latest acquisition efforts.",
    "output": "[Cause] initial well productivity in the Permian has improved about 50% since 2016, when Viper began its latest acquisition efforts [Relation] cause [Effect] Subsequent acquisitions have also proven smart",
    "gold": "[Cause] Viper began its latest acquisition efforts [Relation] cause [Effect] initial well productivity in the Permian has improved about 50% since 2016",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With a sizable presence across nearly every continent, it is also primed to accommodate the needs of global enterprises that want a fluid solution across their data center footprint.",
    "output": "[Cause] a sizable presence across nearly every continent [Relation] enable [Effect] it is also primed to accommodate the needs of global enterprises that want a fluid solution across their data center footprint",
    "gold": "[Cause] a sizable presence across nearly every continent [Relation] cause [Effect] it is also primed to accommodate the needs of global enterprises that want a fluid solution across their data center footprint",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This is driven by a combination of further cost improvements and an improved business mix focused on scalable electronic products, with less of a drag from legacy print products, as this medium now contributes less than 10% of group revenue.",
    "output": "[Cause] this medium now contributes less than 10% of group revenue [Relation] cause [Effect] This is driven by a combination of further cost improvements and an improved business mix focused on scalable electronic products, with less of a drag from legacy print products",
    "gold": "[Cause] this medium now contributes less than 10% of group revenue [Relation] cause [Effect] This is driven by a combination of further cost improvements and an improved business mix focused on scalable electronic products, with less of a drag from legacy print products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The pandemic has caused material economic weakness in Mexico, and we expect sales to fall 10.5% in 2020 before recovering 11.5% in 2021 and stabilizing at 2.5%-4.5% thereafter.",
    "output": "[Cause] The pandemic [Relation] cause [Effect] material economic weakness in Mexico",
    "gold": "[Cause] The pandemic has caused material economic weakness in Mexico [Relation] cause [Effect]  sales to fall 10.5% in 2020 before recovering 11.5% in 2021 and stabilizing at 2.5%-4.5% thereafter.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "GTT has not shown it can continually produce economic profits (it has outearned its cost of capital two times in the last five years, most recently in 2017), although ROIC calculations likely don't give a full picture due to multiple annual acquisitions.",
    "output": "[Cause] multiple annual acquisitions [Relation] cause [Effect] ROIC calculations likely don't give a full picture",
    "gold": "[Cause]  multiple annual acquisitions [Relation] cause [Effect] ROIC calculations likely don't give a full picture",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Novo, Sanofi, and Lilly to enjoy continued insulin volume growth for the foreseeable future, as the increasingly overweight and aging global population initiates or requires more intensive treatment to control blood sugar and prevent diabetes-related complications or death.",
    "output": "[Cause] the increasingly overweight and aging global population initiates or requires more intensive treatment [Relation] cause [Effect] Novo, Sanofi, and Lilly to enjoy continued insulin volume growth for the foreseeable future",
    "gold": "[Cause]  the increasingly overweight and aging global population initiates or requires more intensive treatment [Relation] enable [Effect]  Novo, Sanofi, and Lilly to enjoy continued insulin volume growth for the foreseeable future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Novo, Sanofi, and Lilly to enjoy continued insulin volume growth for the foreseeable future, as the increasingly overweight and aging global population initiates or requires more intensive treatment to control blood sugar and prevent diabetes-related complications or death.",
    "output": "[Cause] the increasingly overweight and aging global population initiates or requires more intensive treatment [Relation] cause [Effect] Novo, Sanofi, and Lilly to enjoy continued insulin volume growth for the foreseeable future",
    "gold": "[Cause]  the increasingly overweight and aging global population initiates or requires more intensive treatment [Relation] cause [Effect] to control blood sugar and prevent diabetes-related complications or death",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Winnebago also has excellent efficiency in its cost structure from scale, which has in the past allowed it to generate a return on invested capital of about 25%-35% in a good year.",
    "output": "[Cause] Winnebago also has excellent efficiency in its cost structure from scale [Relation] enable [Effect] it to generate a return on invested capital of about 25%-35% in a good year",
    "gold": "[Cause] Winnebago also has excellent efficiency in its cost structure from scale [Relation] enable [Effect] it to generate a return on invested capital of about 25%-35% in a good year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Compared with historical norms, we expect Check Point to continue elevated expenditures of marketing (29% of revenue in 2025) and research (13% of 2025 sales) to win greenfield opportunities within the cloud-based and remote access security markets.",
    "output": "[Cause] Check Point to continue elevated expenditures of marketing (29% of revenue in 2025) and research (13% of 2025 sales) [Relation] enable [Effect] win greenfield opportunities within the cloud-based and remote access security markets",
    "gold": "[Cause] Check Point to continue elevated expenditures of marketing (29% of revenue in 2025) and research (13% of 2025 sales) [Relation] enable [Effect] win greenfield opportunities within the cloud-based and remote access security markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We estimate that about 50% of PFG's food-service business (35% of total revenue) uses negotiated spot prices, which exposes PFG to food inflation risk.",
    "output": "[Cause] about 50% of PFG's food-service business (35% of total revenue) uses negotiated spot prices [Relation] cause [Effect] exposes PFG to food inflation risk",
    "gold": "[Cause] about 50% of PFG's food-service business (35% of total revenue) uses negotiated spot prices [Relation] cause [Effect] exposes PFG to food inflation risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, these airlines run complex, fast-moving MRO operations and need suppliers that can quickly and efficiently deliver parts and that have the technical depth to service a broad array of needs.",
    "output": "[Cause] these airlines run complex, fast-moving MRO operations and need suppliers that can quickly and efficiently deliver parts and that have the technical depth to service a broad array of needs [Relation] cause [Effect] these airlines run complex, fast-moving MRO operations and need suppliers",
    "gold": "[Cause] these airlines run complex, fast-moving MRO operations [Relation] cause [Effect] need suppliers that can quickly and efficiently deliver parts and that have the technical depth to service a broad array of needs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Severe economic conditions and the new realities of cost-sharing that have increased out-of-pocket healthcare costs could increase Stryker's vulnerability to larger trends in consumer spending.",
    "output": "[Cause] Severe economic conditions and the new realities of cost-sharing that have increased out-of-pocket healthcare costs [Relation] cause [Effect] increase Stryker's vulnerability to larger trends in consumer spending",
    "gold": "[Cause] Severe economic conditions and the new realities of cost-sharing that have increased out-of-pocket healthcare costs [Relation] enable [Effect] increase Stryker's vulnerability to larger trends in consumer spending",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Crown Castle's inability to generate excess returns is a direct result of all the capital it has spent on fiber assets, in our opinion.",
    "output": "[Cause] all the capital it has spent on fiber assets [Relation] cause [Effect] Crown Castle's inability to generate excess returns",
    "gold": "[Cause]  all the capital it has spent on fiber assets [Relation] cause [Effect] Crown Castle's inability to generate excess returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company has become a favorable partner with large system integrators, which we expect to help its growth plan with large customers undergoing a digital transformation in order to utilize more cloud-based resources.",
    "output": "[Cause] The company has become a favorable partner with large system integrators [Relation] enable [Effect] help its growth plan with large customers undergoing a digital transformation",
    "gold": "[Cause] The company has become a favorable partner with large system integrator [Relation] cause [Effect]  utilize more cloud-based resources",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we expect these gains to be offset by higher investment as the home furnishing landscape remains highly fragmented and competitive, limiting profitability to levels that are structurally lower than in the past.",
    "output": "[Cause] the home furnishing landscape remains highly fragmented and competitive [Relation] prevent [Effect] profitability to levels that are structurally lower than in the past",
    "gold": "[Cause]  the home furnishing landscape remains highly fragmented and competitive [Relation] prevent [Effect] profitability to levels that are structurally lower than in the past",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If commodity inflation returns, margins could be squeezed if the retail environment remains deflationary, although past cycles suggest that Unilever and its competitors should be able to pass through the majority of its raw material inflation to consumers.",
    "output": "[Cause] commodity inflation returns [Relation] cause [Effect] margins could be squeezed",
    "gold": "[Cause] commodity inflation returns [Relation] cause [Effect] margins could be squeezed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If commodity inflation returns, margins could be squeezed if the retail environment remains deflationary, although past cycles suggest that Unilever and its competitors should be able to pass through the majority of its raw material inflation to consumers.",
    "output": "[Cause] the retail environment remains deflationary [Relation] cause [Effect] margins could be squeezed",
    "gold": "[Cause] the retail environment remains deflationary [Relation] cause [Effect] margins could be squeezed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Program wins are generally long-term resulting in high barriers to entry and intense competition amongst entrenched competitors for new opportunities.",
    "output": "[Cause] Program wins are generally long-term [Relation] cause [Effect] high barriers to entry and intense competition amongst entrenched competitors for new opportunities",
    "gold": "[Cause] Program wins are generally long-term [Relation] cause [Effect] high barriers to entry and intense competition amongst entrenched competitors for new opportunities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, FMC faces factors outside its control, such as declining crop prices and farmer incomes, which would lead to lower crop chemical demand.",
    "output": "[Cause] declining crop prices and farmer incomes [Relation] cause [Effect] lower crop chemical demand",
    "gold": "[Cause] declining crop prices and farmer incomes [Relation] enable [Effect]  lower crop chemical demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're racheting up our fair value estimate to $217 per share, up from $190, after recalibrating our projections for how the COVID-19 crisis should weigh on 2020 results, followed by recessionary conditions in 2021-22.",
    "output": "[Cause] recalibrating our projections for how the COVID-19 crisis should weigh on 2020 results, followed by recessionary conditions in 2021-22 [Relation] cause [Effect] We're racheting up our fair value estimate to $217 per share, up from $190",
    "gold": "[Cause] recalibrating our projections for how the COVID-19 crisis should weigh on 2020 results, followed by recessionary conditions in 2021-22 [Relation] cause [Effect] We're racheting up our fair value estimate to $217 per share, up from $190",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have seen signs of turnaround for the mobile business since 2016 with stronger customer and service revenue growth.",
    "output": "[Cause] stronger customer and service revenue growth [Relation] cause [Effect] signs of turnaround for the mobile business since 2016",
    "gold": "[Cause] since 2016 with stronger customer and service revenue growth [Relation] enable [Effect] We have seen signs of turnaround for the mobile business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A greater proportion of tenancy going to hyperscale cloud providers would shift the customer base to lower price per square foot tenants and result in CoreSite realizing lower prices on net.",
    "output": "[Cause] A greater proportion of tenancy going to hyperscale cloud providers [Relation] cause [Effect] shift the customer base to lower price per square foot tenants",
    "gold": "[Cause] A greater proportion of tenancy going to hyperscale cloud providers [Relation] cause [Effect] shift the customer base to lower price per square foot tenants",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A greater proportion of tenancy going to hyperscale cloud providers would shift the customer base to lower price per square foot tenants and result in CoreSite realizing lower prices on net.",
    "output": "[Cause] A greater proportion of tenancy going to hyperscale cloud providers [Relation] cause [Effect] CoreSite realizing lower prices on net",
    "gold": "[Cause] A greater proportion of tenancy going to hyperscale cloud providers [Relation] cause [Effect] CoreSite realizing lower prices on net",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And there is evidence that the global financial crisis of 2008-09 made Booking's platform even more valuable to suppliers, as hoteliers needed its distribution power to fill rooms.",
    "output": "[Cause] hoteliers needed its distribution power to fill rooms [Relation] cause [Effect] the global financial crisis of 2008-09 made Booking's platform even more valuable to suppliers",
    "gold": "[Cause] [Relation] enable [Effect] as hoteliers needed its distribution power to fill rooms | And there is evidence that the global financial crisis of 2008-09 made Booking's platform even more valuable to suppliers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "All three firms are likely to compete in cardiomyopathy in the long run, as both Ionis and Alnylam are testing next-generation versions of their drugs in phase 3 trials.",
    "output": "[Cause] both Ionis and Alnylam are testing next-generation versions of their drugs in phase 3 trials [Relation] cause [Effect] All three firms are likely to compete in cardiomyopathy in the long run",
    "gold": "[Cause] both Ionis and Alnylam are testing next-generation versions of their drugs in phase 3 trials [Relation] cause [Effect] All three firms are likely to compete in cardiomyopathy in the long run",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The lines between the two are blurring, as functions have been added to ITSM solutions, and the complexity of IT infrastructure has increased with the rise of bring your own device and cloud and hybrid cloud environments.",
    "output": "[Cause] functions have been added to ITSM solutions [Relation] cause [Effect] The lines between the two are blurring",
    "gold": "[Cause]  functions have been added to ITSM solutions | the rise of bring your own device and cloud and hybrid cloud environments [Relation] enable [Effect]  the complexity of IT infrastructure has increased",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Total's upstream portfolio managed to deliver returns on capital employed of only 6% during the past five years, below average compared with other integrated firms, as greater exposure to natural gas weighed on margins and high levels of spending expanded its capital base.",
    "output": "[Cause] greater exposure to natural gas weighed on margins and high levels of spending expanded its capital base [Relation] cause [Effect] Total's upstream portfolio managed to deliver returns on capital employed of only 6% during the past five years, below average compared with other integrated firms",
    "gold": "[Cause] greater exposure to natural gas weighed on margins and high levels of spending expanded its capital base [Relation] cause [Effect] Total's upstream portfolio managed to deliver returns on capital employed of only 6% during the past five years, below average compared with other integrated firms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Another advantage of Hormel's direct salesforce is that it allows the company to foster stronger relationships with clients and distributors. These partnerships allow Hormel to educate clients on their products (creating a pull) and the distributors as well (creating a push).",
    "output": "[Cause] Another advantage of Hormel's direct salesforce is that it allows the company to foster stronger relationships with clients and distributors [Relation] enable [Effect] Hormel to educate clients on their products (creating a pull) and the distributors as well (creating a push)",
    "gold": "[Cause] Another advantage of Hormel's direct salesforce is that it allows the company to foster stronger relationships with clients and distributors [Relation] enable [Effect]  Hormel to educate clients on their products (creating a pull) and the distributors as well (creating a push)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company is, however, at a lower risk of experiencing material financial impacts from ESG factors, due to its medium exposure to risks that are inherent to the industry, as well as its own operations, offset by the firm's strong management of its material ESG issues.",
    "output": "[Cause] its medium exposure to risks that are inherent to the industry, as well as its own operations, offset by the firm's strong management of its material ESG issues [Relation] cause [Effect] The company is, however, at a lower risk of experiencing material financial impacts from ESG factors",
    "gold": "[Cause]  its medium exposure to risks that are inherent to the industry, as well as its own operations, offset by the firm's strong management of its material ESG issues [Relation] cause [Effect] The company is, however, at a lower risk of experiencing material financial impacts from ESG factors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Scale allows the company to leverage fixed costs (pharmacist and rent) more effectively than sub-scale peers, which has contributed to the declining market share of smaller independent pharmacies and deterioration of the third largest competitor, Rite Aid.",
    "output": "[Cause] Scale allows the company to leverage fixed costs (pharmacist and rent) more effectively than sub-scale peers [Relation] cause [Effect] the declining market share of smaller independent pharmacies and deterioration of the third largest competitor, Rite Aid",
    "gold": "[Cause] Scale allows the company to leverage fixed costs (pharmacist and rent) more effectively than sub-scale peers [Relation] prevent [Effect] contributed to the declining market share of smaller independent pharmacies and deterioration of the third largest competitor",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Scale allows the company to leverage fixed costs (pharmacist and rent) more effectively than sub-scale peers, which has contributed to the declining market share of smaller independent pharmacies and deterioration of the third largest competitor, Rite Aid.",
    "output": "[Cause] Scale allows the company to leverage fixed costs (pharmacist and rent) more effectively than sub-scale peers [Relation] cause [Effect] the declining market share of smaller independent pharmacies and deterioration of the third largest competitor, Rite Aid",
    "gold": "[Cause] Scale [Relation] enable [Effect]  the company to leverage fixed costs (pharmacist and rent) more effectively than sub-scale peers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Switching to another interconnect or sensor supplier would mean at least a partial system redesign on behalf of the OEM, in addition to retraining staff to learn the intricacies of the new supplier's systems.",
    "output": "[Cause] Switching to another interconnect or sensor supplier [Relation] cause [Effect] at least a partial system redesign on behalf of the OEM, in addition to retraining staff to learn the intricacies of the new supplier's systems",
    "gold": "[Cause] Switching to another interconnect or sensor supplier would mean at least a partial system redesign on behalf of the OEM [Relation] enable [Effect] in addition to retraining staff to learn the intricacies of the new supplier's systems.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Refiners are increasingly investing in renewable diesel to reduce carbon intensity, given its 50% lower emissions than petroleum diesel and the increasing number of national and state governments, including California, with blending mandates and credits, which ensures growing demand and attractive margins.",
    "output": "[Cause] Refiners are increasingly investing in renewable diesel [Relation] enable [Effect] reduce carbon intensity",
    "gold": "[Cause] Refiners are increasingly investing in renewable diesel to reduce carbon intensity [Relation] enable [Effect]  ensures growing demand and attractive margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Refiners are increasingly investing in renewable diesel to reduce carbon intensity, given its 50% lower emissions than petroleum diesel and the increasing number of national and state governments, including California, with blending mandates and credits, which ensures growing demand and attractive margins.",
    "output": "[Cause] Refiners are increasingly investing in renewable diesel [Relation] enable [Effect] reduce carbon intensity",
    "gold": "[Cause] its 50% lower emissions than petroleum diesel and the increasing number of national and state governments, including California, with blending mandates and credits [Relation] cause [Effect] Refiners are increasingly investing in renewable diesel to reduce carbon intensity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Scor does not provide impairment information for its available-for-sale assets, or any other assets, so this makes a direct comparison with previous years within the business challenging.",
    "output": "[Cause] Scor does not provide impairment information for its available-for-sale assets, or any other assets [Relation] cause [Effect] a direct comparison with previous years within the business challenging",
    "gold": "[Cause] Scor does not provide impairment information for its available-for-sale assets, or any other assets [Relation] cause [Effect] a direct comparison with previous years within the business challenging",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect reported sales will rise about 7%, while we expect adjusted operating margins will rise 170 basis-points due to both operating leverage and continuous improvement initiatives.",
    "output": "[Cause] both operating leverage and continuous improvement initiatives [Relation] cause [Effect] adjusted operating margins will rise 170 basis-points",
    "gold": "[Cause] both operating leverage and continuous improvement initiatives [Relation] cause [Effect] reported sales will rise about 7%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect reported sales will rise about 7%, while we expect adjusted operating margins will rise 170 basis-points due to both operating leverage and continuous improvement initiatives.",
    "output": "[Cause] both operating leverage and continuous improvement initiatives [Relation] cause [Effect] adjusted operating margins will rise 170 basis-points",
    "gold": "[Cause] both operating leverage and continuous improvement initiatives [Relation] cause [Effect] adjusted operating margins will rise 170 basis-points",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That dynamic was evident throughout the Great Recession, when numerous struggling LTL carriers on the brink of collapse slashed prices to unsustainable levels in a desperate attempt to grab volume and stay alive.",
    "output": "[Cause] numerous struggling LTL carriers on the brink of collapse slashed prices to unsustainable levels [Relation] enable [Effect] grab volume and stay alive",
    "gold": "[Cause] numerous struggling LTL carriers on the brink of collapse slashed prices to unsustainable levels [Relation] enable [Effect]  grab volume and stay alive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project adjusted operating margins expanding by about 350 basis points over the next five years, primarily due to expected cost synergies from the merger.",
    "output": "[Cause] expected cost synergies from the merger [Relation] cause [Effect] adjusted operating margins expanding by about 350 basis points over the next five years",
    "gold": "[Cause] expected cost synergies from the merger [Relation] cause [Effect] We project adjusted operating margins expanding by about 350 basis points",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As long as Zimmer can launch comparable technology within a few years of its rivals, it can remain in a strong competitive position.",
    "output": "[Cause] Zimmer can launch comparable technology within a few years of its rivals [Relation] enable [Effect] it can remain in a strong competitive position",
    "gold": "[Cause] Zimmer can launch comparable technology within a few years of its rivals [Relation] enable [Effect] it can remain in a strong competitive position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Should oil and gas prices fall below the cost of production, the value of these investments would suffer materially, leading to large impairment losses.",
    "output": "[Cause] oil and gas prices fall below the cost of production [Relation] cause [Effect] large impairment losses",
    "gold": "[Cause]  oil and gas prices fall below the cost of production [Relation] cause [Effect]  large impairment losses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As cloud-based processing expands closer to the end users, increasing management complexity, and hyperscale cloud providers continue to use white-box solutions for basic tasks, we believe Juniper's software prowess will determine its ultimate success in this market.",
    "output": "[Cause] cloud-based processing expands closer to the end users, increasing management complexity, and hyperscale cloud providers continue to use white-box solutions for basic tasks [Relation] cause [Effect] Juniper's software prowess will determine its ultimate success in this market",
    "gold": "[Cause] cloud-based processing expands closer to the end users, increasing management complexity, and hyperscale cloud providers continue to use white-box solutions for basic tasks [Relation] enable [Effect] Juniper's software prowess will determine its ultimate success in this market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Meanwhile, Chevron's upstream GHG intensity is rather high for its peer group at 27 kilograms CO2e/boe (2020), making it a higher cost producer.",
    "output": "[Cause] Chevron's upstream GHG intensity is rather high for its peer group at 27 kilograms CO2e/boe (2020) [Relation] enable [Effect] it a higher cost producer",
    "gold": "[Cause] Chevron's upstream GHG intensity is rather high for its peer group at 27 kilograms CO2e/boe (2020) [Relation] enable [Effect] it a higher cost producer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We model adjusted EBIT margins that expand from 5.1% in 2020 due to the negative operating leverage from COVID-19 factory closures, to a normalized sustainable midcycle of 10.8% in the final year of our forecast, 160 basis points above the 15-year historical 9.2% median.",
    "output": "[Cause] the negative operating leverage from COVID-19 factory closures [Relation] cause [Effect] We model adjusted EBIT margins that expand from 5.1% in 2020",
    "gold": "[Cause]  the negative operating leverage from COVID-19 factory closures [Relation] cause [Effect] We model adjusted EBIT margins that expand from 5.1% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Trip.com's last intense competition with Qunar and eLong squeezed its operating margin into negative territory in 2014, from above positive 30% before 2011.",
    "output": "[Cause] Trip.com's last intense competition with Qunar and eLong [Relation] cause [Effect] squeezed its operating margin into negative territory in 2014, from above positive 30% before 2011",
    "gold": "[Cause] Trip.com's last intense competition with Qunar and eLong [Relation] enable [Effect] squeezed its operating margin into negative territory in 2014, from above positive 30% before 2011",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For Ticketmaster, the ticketing platform will look to maintain its position via continued investment in its technology and leveraging its unique relationship with the concerts segment.",
    "output": "[Cause] continued investment in its technology and leveraging its unique relationship with the concerts segment [Relation] enable [Effect] maintain its position",
    "gold": "[Cause] continued investment in its technology and leveraging its unique relationship with the concerts segment [Relation] enable [Effect] maintain its position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its strategy in France is simple: maintain market share in mobile and fixed markets, and offset potential pricing pressures with employee cost reductions, where Orange is limited by French regulations.",
    "output": "[Cause] maintain market share in mobile and fixed markets, and offset potential pricing pressures with employee cost reductions [Relation] cause [Effect] Orange is limited by French regulations",
    "gold": "[Cause] offset potential pricing [Relation] enable [Effect] pressures with employee cost reductions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Suppliers that are not on the core list will not have the opportunity to bid on the company's business, which reduces overall competitive intensity.",
    "output": "[Cause] Suppliers that are not on the core list will not have the opportunity to bid on the company's business [Relation] cause [Effect] reduces overall competitive intensity",
    "gold": "[Cause] Suppliers that are not on the core list will not have the opportunity to bid on the company's business [Relation] cause [Effect]  reduces overall competitive intensity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's institutional securities business has somewhat surprisingly benefited from COVID-19 in 2020, as businesses raised capital to secure funding through the recession and trading volume increased.",
    "output": "[Cause] businesses raised capital to secure funding through the recession and trading volume increased [Relation] cause [Effect] The company's institutional securities business has somewhat surprisingly benefited from COVID-19 in 2020",
    "gold": "[Cause] businesses raised capital to secure funding through the recession and trading volume increased [Relation] cause [Effect] The company's institutional securities business has somewhat surprisingly benefited from COVID-19 in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Rising demand in home improvement stemming from consumers spending more time at home (due to COVID-19) has generated better cost leverage results faster than we had anticipated.",
    "output": "[Cause] Rising demand in home improvement stemming from consumers spending more time at home [Relation] cause [Effect] generated better cost leverage results faster than we had anticipated",
    "gold": "[Cause]  COVID-19 [Relation] cause [Effect] consumers spending more time at home",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Rising demand in home improvement stemming from consumers spending more time at home (due to COVID-19) has generated better cost leverage results faster than we had anticipated.",
    "output": "[Cause] consumers spending more time at home [Relation] cause [Effect] generated better cost leverage results faster than we had anticipated",
    "gold": "[Cause] consumers spending more time at home [Relation] prevent [Effect] Rising demand in home improvement",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Rising demand in home improvement stemming from consumers spending more time at home (due to COVID-19) has generated better cost leverage results faster than we had anticipated.",
    "output": "[Cause] consumers spending more time at home [Relation] cause [Effect] generated better cost leverage results faster than we had anticipated",
    "gold": "[Cause] Rising demand in home improvement [Relation] cause [Effect] generated better cost leverage results faster than we had anticipated",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We've boosted our fair value estimate to $93 per share from $82 after incorporating the stellar fourth-quarter performance and raising our projections for molecular diagnostics and rapid diagnostics in 2021.",
    "output": "[Cause] incorporating the stellar fourth-quarter performance and raising our projections for molecular diagnostics and rapid diagnostics in 2021 [Relation] cause [Effect] We've boosted our fair value estimate to $93 per share from $82",
    "gold": "[Cause] after incorporating the stellar fourth-quarter performance [Relation] cause [Effect] boosted our fair value estimate to $93 per share from $82  | raising our projections for molecular diagnostics and rapid diagnostics in 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect the firm's largest segment, Discovery and Safety Assessment, to make up about 63% of total revenue, driven by a slow increase in outsourcing penetration throughout our explicit forecast. This implies modest share gains, and we expect the firm to make small acquisitions in the space, resulting in nearly $3 billion in revenue in 2024.",
    "output": "[Cause] the firm's largest segment, Discovery and Safety Assessment, to make up about 63% of total revenue, driven by a slow increase in outsourcing penetration throughout our explicit forecast [Relation] cause [Effect] modest share gains, and we expect the firm to make small acquisitions in the space, resulting in nearly $3 billion in revenue in 2024",
    "gold": "[Cause]  the firm's largest segment, Discovery and Safety Assessment, to make up about 63% of total revenue, driven by a slow increase in outsourcing penetration throughout our explicit forecast [Relation] cause [Effect]  modest share gains, and we expect the firm to make small acquisitions in the space, resulting in nearly $3 billion in revenue in 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect the company to continue funding research in cystic fibrosis to develop next-generation therapies for CF, from small molecule correctors to gene editing.",
    "output": "[Cause] the company to continue funding research in cystic fibrosis [Relation] enable [Effect] develop next-generation therapies for CF, from small molecule correctors to gene editing",
    "gold": "[Cause] the company to continue funding research in cystic fibrosis [Relation] enable [Effect] develop next-generation therapies for CF, from small molecule correctors to gene editing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In general, just as firms with network effects benefit from the positive flywheel effect when a network expands, they also run the risk of a negative flywheel if customers, drivers, or both start to depart, especially if the network lacks meaningful switching costs.",
    "output": "[Cause] customers, drivers, or both start to depart, especially if the network lacks meaningful switching costs [Relation] cause [Effect] they also run the risk of a negative flywheel",
    "gold": "[Cause] customers, drivers, or both start to depart, especially if the network lacks meaningful switching costs [Relation] cause [Effect]  they also run the risk of a negative flywheel",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Risks remain around additional waves of COVID-19 cases and an elongated time until an effective treatment and vaccine are globally available, which could delay our forecast recovery in demand.",
    "output": "[Cause] Risks remain around additional waves of COVID-19 cases and an elongated time until an effective treatment and vaccine are globally available [Relation] cause [Effect] delay our forecast recovery in demand",
    "gold": "[Cause] Risks remain around additional waves of COVID-19 cases and an elongated time until an effective treatment and vaccine are globally available [Relation] cause [Effect] delay our forecast recovery in demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In its global products unit (nearly 65% of fiscal 2020 sales), we contend that the shift toward premium lubricants favors firms like Valvoline that can use their superior lineups as motor oil changes become less frequent but more costly.",
    "output": "[Cause] motor oil changes become less frequent but more costly [Relation] cause [Effect] the shift toward premium lubricants favors firms like Valvoline that can use their superior lineups",
    "gold": "[Cause]  motor oil changes become less frequent but more costly [Relation] cause [Effect] the shift toward premium lubricants favors firms like Valvoline that can use their superior lineups",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Historically, operating margins are either negative or very low single digits, and we expect tight margins will persist, given the nature of the pressure-pumping market and Patterson's place within it.",
    "output": "[Cause] the nature of the pressure-pumping market and Patterson's place within it [Relation] cause [Effect] tight margins will persist",
    "gold": "[Cause]  the nature of the pressure-pumping market and Patterson's place within it [Relation] prevent [Effect]  operating margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company's target procedures aren't elective and most done in the outpatient setting, so even if the epidemic remains throughout 2020, cancer treatment centers' volumes are not likely to be materially down.",
    "output": "[Cause] The company's target procedures aren't elective and most done in the outpatient setting [Relation] cause [Effect] even if the epidemic remains throughout 2020, cancer treatment centers' volumes are not likely to be materially down",
    "gold": "[Cause] The company's target procedures aren't elective and most done in the outpatient setting [Relation] cause [Effect] even if the epidemic remains throughout 2020, cancer treatment centers' volumes are not likely to be materially down",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Wesco's proven ability to increase customer wallet share can be directly attributed to the company's success in cross-selling its growing portfolio of products and services to a customer base that is increasingly looking to consolidate spending with value-added distributors that have global scale.",
    "output": "[Cause] the company's success in cross-selling its growing portfolio of products and services to a customer base that is increasingly looking to consolidate spending with value-added distributors that have global scale [Relation] cause [Effect] Wesco's proven ability to increase customer wallet share",
    "gold": "[Cause] the company's success in cross-selling its growing portfolio of products and services to a customer base that is increasingly looking to consolidate spending with value-added distributors that have global scale [Relation] cause [Effect] Wesco's proven ability to increase customer wallet share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Ross can manage the volatility, as the treasure-hunt concept appears to have durable appeal and product availability should remain favorable as manufacturers struggle to match production to increasingly hard-to-forecast demand across myriad channels.",
    "output": "[Cause] manufacturers struggle to match production to increasingly hard-to-forecast demand across myriad channels [Relation] cause [Effect] product availability should remain favorable",
    "gold": "[Cause] manufacturers struggle to match production to increasingly hard-to-forecast demand across myriad channels [Relation] enable [Effect]  product availability should remain favorable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, growth in new users, user engagement, and time spent on Snapchat may face a natural limit in the long run as customers only have so much time to give to various mobile app interactions each day.",
    "output": "[Cause] customers only have so much time to give to various mobile app interactions each day [Relation] cause [Effect] growth in new users, user engagement, and time spent on Snapchat may face a natural limit in the long run",
    "gold": "[Cause] customers only have so much time to give to various mobile app interactions each day [Relation] cause [Effect] growth in new users, user engagement, and time spent on Snapchat may face a natural limit in the long run",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a top-tier healthcare-focused retail store, pharmacy benefit manager, and insurer, we believe CVS possesses enough scale-related cost advantages to generate economic profits for the long run.",
    "output": "[Cause] CVS possesses enough scale-related cost advantages [Relation] enable [Effect] generate economic profits for the long run",
    "gold": "[Cause] As a top-tier healthcare-focused retail store, pharmacy benefit manager, and insurer [Relation] cause [Effect] we believe CVS possesses enough scale-related cost advantages to generate economic profits for the long run",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, the stores are only a small portion of US Foods' overall business, so they don't make a meaningful impact to the firm's overall competitive standing.",
    "output": "[Cause] the stores are only a small portion of US Foods' overall business [Relation] cause [Effect] they don't make a meaningful impact to the firm's overall competitive standing",
    "gold": "[Cause] the stores are only a small portion of US Foods' overall business [Relation] cause [Effect] they don't make a meaningful impact to the firm's overall competitive standing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The FAA does not have reciprocal acceptance of aircraft design approval with these nations, so we anticipate material frictions in the international approval process.",
    "output": "[Cause] The FAA does not have reciprocal acceptance of aircraft design approval with these nations [Relation] cause [Effect] material frictions in the international approval process",
    "gold": "[Cause] The FAA does not have reciprocal acceptance of aircraft design approval with these nations [Relation] cause [Effect] material frictions in the international approval process",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Citigroup is banking on the long-run rise of the global consumer and the overall stability of the banking systems of the countries it operates in, but there are bound to be bumps along the way, leading to potentially volatile financial results.",
    "output": "[Cause] there are bound to be bumps along the way [Relation] cause [Effect] potentially volatile financial results",
    "gold": "[Cause] Citigroup is banking on the long-run rise of the global consumer and the overall stability of the banking systems of the countries it operates in [Relation] cause [Effect] potentially volatile financial results",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We are broadly assuming GDP-like growth in the defense business and expect the services business will regain profitability faster than Boeing as a whole because aftermarket revenue increases directly with flights, but that global retirements will slow the recovery of this segment over the medium term.",
    "output": "[Cause] aftermarket revenue increases directly with flights [Relation] cause [Effect] global retirements will slow the recovery of this segment over the medium term",
    "gold": "[Cause]  aftermarket revenue increases directly with flights [Relation] cause [Effect]  global retirements will slow the recovery of this segment over the medium term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that the amount of data collected and analytical computations on such data in the cloud will continue to dramatically increase. These trends should increase usage of Snowflake's platform in the years to come, which will, in turn, strengthen Snowflake's stickiness and compound the benefits of its network effect.",
    "output": "[Cause] the amount of data collected and analytical computations on such data in the cloud will continue to dramatically increase [Relation] cause [Effect] increase usage of Snowflake's platform in the years to come, which will, in turn, strengthen Snowflake's stickiness and compound the benefits of its network effect",
    "gold": "[Cause] the amount of data collected and analytical computations on such data in the cloud will continue to dramatically increase [Relation] cause [Effect]  increase usage of Snowflake's platform in the years to come, which will, in turn, strengthen Snowflake's stickiness and compound the benefits of its network effect",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Regulators closely scrutinze firms providing these services, often taking steps to increase competition if prices are deemed too high or service quality too poor.",
    "output": "[Cause] prices are deemed too high or service quality too poor [Relation] cause [Effect] taking steps to increase competition",
    "gold": "[Cause] prices are deemed too high or service quality too poor [Relation] cause [Effect] taking steps to increase competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, our confidence in the company continuing to generate economic profits thereafter is slim, and we also see very material risk of overall value destruction owing to the threat of overcapacity and increased competition in the lower-end OCTG markets.",
    "output": "[Cause] the threat of overcapacity and increased competition in the lower-end OCTG markets [Relation] cause [Effect] very material risk of overall value destruction",
    "gold": "[Cause]  the threat of overcapacity and increased competition in the lower-end OCTG markets [Relation] cause [Effect] very material risk of overall value destruction",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we anticipate the combination of higher prices at the shelf and the pursuit of additional cost efficiencies will serve to stem the hit to profits longer term.",
    "output": "[Cause] the combination of higher prices at the shelf and the pursuit of additional cost efficiencies [Relation] prevent [Effect] profits longer term",
    "gold": "[Cause]  the combination of higher prices at the shelf and the pursuit of additional cost efficiencies [Relation] prevent [Effect]  profits longer term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the producers required to destroy flocks received government assistance, there are lingering effects such as lost revenue, which can slash the return on the company's advertising, distribution, and innovation expenditures.",
    "output": "[Cause] lost revenue [Relation] cause [Effect] slash the return on the company's advertising, distribution, and innovation expenditures",
    "gold": "[Cause]  lost revenue [Relation] cause [Effect] slash the return on the company's advertising, distribution, and innovation expenditures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To quantify its leadership spread, we estimate the closest competitors in its sterndrive niche, Sea Ray and Chaparral, hold midteens market shares, while other competitors fall into the single-digit range. This market position (reached via solid brand equity) has offered Malibu strong adjusted returns on invested capital, including goodwill, that have averaged 49% during the past five years, far outpacing our 11% weighted average cost of capital estimate.",
    "output": "[Cause] To quantify its leadership spread, we estimate the closest competitors in its sterndrive niche, Sea Ray and Chaparral, hold midteens market shares, while other competitors fall into the single-digit range [Relation] cause [Effect] offered Malibu strong adjusted returns on invested capital, including goodwill, that have averaged 49% during the past five years, far outpacing our 11% weighted average cost of capital estimate",
    "gold": "[Cause] This market position (reached via solid brand equity) has offered Malibu strong adjusted returns on invested capital, including goodwill, that have averaged 49% during the past five years, far outpacing our 11% weighted average cost of capital estimate [Relation] enable [Effect] To quantify its leadership spread, we estimate the closest competitors in its sterndrive niche, Sea Ray and Chaparral, hold midteens market shares, while other competitors fall into the single-digit range",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This local scale is important in developing a broader local membership base as it creates efficiencies in that population and creates negotiating power over local service providers.",
    "output": "[Cause] it creates efficiencies in that population and creates negotiating power over local service providers [Relation] cause [Effect] This local scale is important in developing a broader local membership base",
    "gold": "[Cause] it creates efficiencies in that population and creates negotiating power over local service providers [Relation] enable [Effect] This local scale is important in developing a broader local membership base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The bar for securing reimbursement for new technology has risen as payers have become more stringent about clinical data before committing to payment.",
    "output": "[Cause] payers have become more stringent about clinical data before committing to payment [Relation] cause [Effect] The bar for securing reimbursement for new technology has risen",
    "gold": "[Cause] payers have become more stringent about clinical data before committing to payment [Relation] cause [Effect] The bar for securing reimbursement for new technology has risen",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While most of these are transient in nature, we see some, such as a possible reduction in consumer purchasing power across developing markets (and the resultant increase in the appeal of lower-priced brands to price conscious consumers), as potent threats in the medium to long term.",
    "output": "[Cause] a possible reduction in consumer purchasing power across developing markets [Relation] cause [Effect] increase in the appeal of lower-priced brands to price conscious consumers",
    "gold": "[Cause] a possible reduction in consumer purchasing power across developing markets [Relation] cause [Effect] increase in the appeal of lower-priced brands to price conscious consumers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to lower discounting and inventory control (inventories down 27% year-over-year), its gross margin in the quarter was 120 basis points better than we had anticipated (32.0% versus 30.8%).",
    "output": "[Cause] lower discounting and inventory control [Relation] cause [Effect] its gross margin in the quarter was 120 basis points better than we had anticipated",
    "gold": "[Cause] lower discounting and inventory control [Relation] cause [Effect] its gross margin in the quarter was 120 basis points better than we had anticipated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that the company will see declines in other revenue stabilize over the next five years as it skews its revenue mix away from some commoditized outsourcing services.",
    "output": "[Cause] it skews its revenue mix away from some commoditized outsourcing services [Relation] cause [Effect] the company will see declines in other revenue stabilize over the next five years",
    "gold": "[Cause] it skews its revenue mix away from some commoditized outsourcing services [Relation] cause [Effect] the company will see declines in other revenue stabilize over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have not modeled significant changes in our 10-year average gross margins as we believe the higher-margin Acxiom and IPG's efficiencies in talent management (per account or per project) will offset growth in compensation and slightly lower long-term margins on digital.",
    "output": "[Cause] the higher-margin Acxiom and IPG's efficiencies in talent management (per account or per project) will offset growth in compensation and slightly lower long-term margins on digital [Relation] cause [Effect] We have not modeled significant changes in our 10-year average gross margins",
    "gold": "[Cause]  the higher-margin Acxiom and IPG's efficiencies in talent management [Relation] enable [Effect] offset growth in compensation and slightly lower long-term margins on digital",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The players of more hardcore games usually spend more time and money in the games, allowing operators, such as NetEase, to monetize their IP through expansion packs, version upgrades, spin-off games, and so on.",
    "output": "[Cause] The players of more hardcore games usually spend more time and money in the games [Relation] enable [Effect] allowing operators, such as NetEase, to monetize their IP through expansion packs, version upgrades, spin-off games, and so on",
    "gold": "[Cause] The players of more hardcore games usually spend more time and money in the games [Relation] enable [Effect]  allowing operators, such as NetEase, to monetize their IP through expansion packs, version upgrades, spin-off games, and so on",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, global travel has waned as a result of COVID-19, potentially leading to longer-term secular shifts in consumer behavior, challenging the economic performance of Carnival over an extended horizon.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] global travel has waned",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] global travel has waned",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, global travel has waned as a result of COVID-19, potentially leading to longer-term secular shifts in consumer behavior, challenging the economic performance of Carnival over an extended horizon.",
    "output": "[Cause] global travel has waned [Relation] cause [Effect] longer-term secular shifts in consumer behavior, challenging the economic performance of Carnival over an extended horizon",
    "gold": "[Cause] global travel has waned [Relation] cause [Effect]  longer-term secular shifts in consumer behavior, challenging the economic performance of Carnival over an extended horizon",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Apart from tax-season stress, TurboTax Online users can access former tax returns, which will autofill current tax forms with basic information from the previous year, which we think supports high switching costs and which we believe is reflected in the software's 79% retention rate.",
    "output": "[Cause] TurboTax Online users can access former tax returns [Relation] enable [Effect] autofill current tax forms with basic information from the previous year",
    "gold": "[Cause] TurboTax Online users can access former tax returns, which will autofill current tax forms with basic information from the previous year [Relation] enable [Effect]  supports high switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Apart from tax-season stress, TurboTax Online users can access former tax returns, which will autofill current tax forms with basic information from the previous year, which we think supports high switching costs and which we believe is reflected in the software's 79% retention rate.",
    "output": "[Cause] TurboTax Online users can access former tax returns [Relation] enable [Effect] supports high switching costs",
    "gold": "[Cause] the software's 79% retention rate [Relation] enable [Effect] supports high switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The lightweight agents, installed on physical devices like servers and laptops, or in virtual machines and cloud environments, are continually improving through its cloud database algorithms, becoming more capable as more data is received.",
    "output": "[Cause] more data is received [Relation] enable [Effect] becoming more capable",
    "gold": "[Cause] The lightweight agents, installed on physical devices like servers and laptops, or in virtual machines and cloud environments, are continually improving through its cloud database algorithms [Relation] enable [Effect] becoming more capable as more data is received",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Internationally, the company risks marketing improperly to audiences in Mexico and Canada, which could have significantly different consumption preferences than Americans.",
    "output": "[Cause] the company risks marketing improperly to audiences in Mexico and Canada [Relation] cause [Effect] have significantly different consumption preferences than Americans",
    "gold": "[Cause] the company risks marketing improperly to audiences in Mexico and Canada [Relation] enable [Effect] have significantly different consumption preferences than Americans",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As part of a litigation settlement agreement with Teva Pharmaceutical Industries, Teva can either bring a generic version to market or sell a Salix-authorized generic in 2028.",
    "output": "[Cause] part of a litigation settlement agreement with Teva Pharmaceutical Industries [Relation] enable [Effect] Teva can either bring a generic version to market or sell a Salix-authorized generic in 2028",
    "gold": "[Cause] part of a litigation settlement agreement with Teva Pharmaceutical Industries [Relation] enable [Effect] Teva can either bring a generic version to market or sell a Salix-authorized generic in 2028",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Oneok brings together high-quality assets, some of the strongest near- to medium-term growth prospects in our coverage as new projects continue to ramp up in 2021, a C-Corporation structure, and a well-respected management team in a compelling package.",
    "output": "[Cause] new projects continue to ramp up in 2021, a C-Corporation structure, and a well-respected management team in a compelling package [Relation] cause [Effect] Oneok brings together high-quality assets, some of the strongest near- to medium-term growth prospects in our coverage",
    "gold": "[Cause]  new projects continue to ramp up in 2021, a C-Corporation structure, and a well-respected management team in a compelling package [Relation] cause [Effect] Oneok brings together high-quality assets, some of the strongest near- to medium-term growth prospects in our coverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Likewise, if the severity of collisions increases because of impaired car safety or driving patterns, the cost of claims will escalate.",
    "output": "[Cause] impaired car safety or driving patterns [Relation] cause [Effect] the severity of collisions increases",
    "gold": "[Cause] impaired car safety or driving patterns [Relation] cause [Effect] the severity of collisions increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Likewise, if the severity of collisions increases because of impaired car safety or driving patterns, the cost of claims will escalate.",
    "output": "[Cause] impaired car safety or driving patterns [Relation] cause [Effect] the severity of collisions increases",
    "gold": "[Cause] the severity of collisions increases [Relation] cause [Effect] the cost of claims will escalate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As other firms have more reasons to own fiber, it makes it more difficult for Crown Castle to corner the market with existing infrastructure.",
    "output": "[Cause] other firms have more reasons to own fiber [Relation] cause [Effect] it makes it more difficult for Crown Castle to corner the market with existing infrastructure",
    "gold": "[Cause] other firms have more reasons to own fiber [Relation] cause [Effect]  it makes it more difficult for Crown Castle to corner the market with existing infrastructure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Digital solutions (precision farming) are also a critical component in today's machines, helping customers make data-driven decisions to boost their productivity. These factors have led to CNH Industrial developing intense brand loyalty among farmers, manifested from its brand familiarity of more than a century and ability to continually provide innovative products.",
    "output": "[Cause] Digital solutions (precision farming) are also a critical component in today's machines, helping customers make data-driven decisions to boost their productivity [Relation] cause [Effect] CNH Industrial developing intense brand loyalty among farmers, manifested from its brand familiarity of more than a century and ability to continually provide innovative products",
    "gold": "[Cause] Digital solutions (precision farming) are also a critical component in today's machines, helping customers make data-driven decisions to boost their productivity [Relation] cause [Effect]  CNH Industrial developing intense brand loyalty among farmers, manifested from its brand familiarity of more than a century and ability to continually provide innovative products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In Asia, where Ralph Lauren trails some competitors, we expect 8% compound average annual sales growth over the next decade as stores open and e-commerce expands in mainland China.",
    "output": "[Cause] stores open and e-commerce expands in mainland China [Relation] cause [Effect] 8% compound average annual sales growth over the next decade",
    "gold": "[Cause] stores open and e-commerce expands in mainland China [Relation] enable [Effect]  8% compound average annual sales growth over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Many customers bring their vehicles to the dealer for servicing because the vehicle is either under warranty or because the dealer is close to home and has the factory parts and expertise to service the vehicle.",
    "output": "[Cause] the vehicle is either under warranty or because the dealer is close to home and has the factory parts and expertise to service the vehicle [Relation] cause [Effect] Many customers bring their vehicles to the dealer for servicing",
    "gold": "[Cause]  the vehicle is either under warranty or because the dealer is close to home and has the factory parts and expertise to service the vehicle [Relation] cause [Effect] Many customers bring their vehicles to the dealer for servicing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the cost of debt rises without corresponding income growth, there is a risk that yield-searching capital will flow out of REITs, pressuring asset values and limiting capital alternatives for Essex.",
    "output": "[Cause] the cost of debt rises without corresponding income growth [Relation] cause [Effect] yield-searching capital will flow out of REITs, pressuring asset values and limiting capital alternatives for Essex",
    "gold": "[Cause] the cost of debt rises without corresponding income growth [Relation] cause [Effect] yield-searching capital will flow out of REITs, pressuring asset values and limiting capital alternatives for Essex",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Net long-term inflows of $9.8 billion during the quarter were better than our forecast for $6.7 billion, with most of the difference due to stronger institutional flows.",
    "output": "[Cause] stronger institutional flows [Relation] cause [Effect] most of the difference",
    "gold": "[Cause] stronger institutional flows [Relation] cause [Effect] Net long-term inflows of $9.8 billion during the quarter were better than our forecast for $6.7 billion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast recreational volume to rise roughly 11% per year on average as distribution expands, consumers convert from the black market, and nonconsumers become consumers.",
    "output": "[Cause] distribution expands, consumers convert from the black market, and nonconsumers become consumers [Relation] cause [Effect] recreational volume to rise roughly 11% per year on average",
    "gold": "[Cause] distribution expands, consumers convert from the black market, and nonconsumers become consumers [Relation] cause [Effect] recreational volume to rise roughly 11% per year on average",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Another risk is focused entry from Google, Facebook, Amazon, Alibaba, Costco, and others could double the current handful of players with dominant scale, leading to a meaningful impact on profitability.",
    "output": "[Cause] Another risk is focused entry from Google, Facebook, Amazon, Alibaba, Costco, and others could double the current handful of players with dominant scale [Relation] cause [Effect] a meaningful impact on profitability",
    "gold": "[Cause] Another risk is focused entry from Google, Facebook, Amazon, Alibaba, Costco, and others could double the current handful of players with dominant scale [Relation] cause [Effect] a meaningful impact on profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Large networking firm with strong channel relationships like Cisco are focused on expanding their security portfolios as other product streams mature.",
    "output": "[Cause] other product streams mature [Relation] cause [Effect] Large networking firm with strong channel relationships like Cisco are focused on expanding their security portfolios",
    "gold": "[Cause]  other product streams mature [Relation] cause [Effect] Large networking firm with strong channel relationships like Cisco are focused on expanding their security portfolios",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For the portion of its sales that are consummated via fixed pricing arrangements, the company uses material forward contracts to mitigate the impact of changing raw material prices.",
    "output": "[Cause] material forward contracts [Relation] enable [Effect] mitigate the impact of changing raw material prices",
    "gold": "[Cause] material forward contracts [Relation] enable [Effect]  mitigate the impact of changing raw material prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Based on remarkable progress since 2013, we have high confidence concerning the magnitude of improvement that CP's leadership and operators can accomplish longer term.",
    "output": "[Cause] remarkable progress since 2013 [Relation] cause [Effect] we have high confidence concerning the magnitude of improvement that CP's leadership and operators can accomplish longer term",
    "gold": "[Cause] remarkable progress since 2013 [Relation] cause [Effect] we have high confidence concerning the magnitude of improvement that CP's leadership and operators can accomplish longer term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because TE's share of the overall bill of materials is relatively low, price isn't the driving consideration for a supplier or OEM; customers will prioritize cutting-edge technology and reliability and pay a premium for them.",
    "output": "[Cause] TE's share of the overall bill of materials is relatively low [Relation] cause [Effect] price isn't the driving consideration for a supplier or OEM",
    "gold": "[Cause] TE's share of the overall bill of materials is relatively low [Relation] cause [Effect] price isn't the driving consideration for a supplier or OEM | customers will prioritize cutting-edge technology",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe that switching costs are relatively low in this area, and that scale and the resulting cost advantage are the dominant factor in terms of competitive positioning. As a result, a handful of acquirers have come to dominate the industry over time, and mergers and acquisitions in recent years have further consolidated the space.",
    "output": "[Cause] switching costs are relatively low in this area, and that scale and the resulting cost advantage are the dominant factor in terms of competitive positioning [Relation] cause [Effect] a handful of acquirers have come to dominate the industry over time, and mergers and acquisitions in recent years have further consolidated the space",
    "gold": "[Cause] switching costs are relatively low in this area, and that scale and the resulting cost advantage are the dominant factor in terms of competitive positioning [Relation] cause [Effect] a handful of acquirers have come to dominate the industry over time, and mergers and acquisitions in recent years have further consolidated the space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Developers can integrate a whole host of functionalities to better serve customers, including automated voice, text, and messaging, as well as use-case-specific solutions that improve customer communications.",
    "output": "[Cause] Developers can integrate a whole host of functionalities [Relation] enable [Effect] better serve customers",
    "gold": "[Cause] Developers can integrate a whole host of functionalities [Relation] enable [Effect] better serve customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think gross margins will remain around 70% as the firm continues to innovate and improve its product portfolio while transitioning to more advanced process nodes.",
    "output": "[Cause] the firm continues to innovate and improve its product portfolio while transitioning to more advanced process nodes [Relation] cause [Effect] gross margins will remain around 70%",
    "gold": "[Cause] the firm continues to innovate and improve its product portfolio while transitioning to more advanced process nodes [Relation] cause [Effect] gross margins will remain around 70%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As it looks to accelerate Tim Hortons' and Popeyes' international growth, RBI adds a layer of execution risks on top of structural industry headwinds.",
    "output": "[Cause] it looks to accelerate Tim Hortons' and Popeyes' international growth [Relation] cause [Effect] RBI adds a layer of execution risks on top of structural industry headwinds",
    "gold": "[Cause]  it looks to accelerate Tim Hortons' and Popeyes' international growth [Relation] cause [Effect] RBI adds a layer of execution risks on top of structural industry headwinds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given its size, Siemens is able to bid at a low or no margin for the initial business to secure the higher-margin aftermarket.",
    "output": "[Cause] bid at a low or no margin [Relation] enable [Effect] secure the higher-margin aftermarket",
    "gold": "[Cause]  bid at a low or no margin [Relation] enable [Effect] secure the higher-margin aftermarket",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Welltower has historically shown an ability to drive higher internal operating income growth than peers, but we see this as more an attribute of its management team working with the best operators than qualities inherent in the properties themselves.",
    "output": "[Cause] more an attribute of its management team working with the best operators than qualities inherent in the properties themselves [Relation] cause [Effect] Welltower has historically shown an ability to drive higher internal operating income growth than peers",
    "gold": "[Cause] more an attribute of its management team working with the best operators than qualities inherent in the properties themselves [Relation] cause [Effect] Welltower has historically shown an ability to drive higher internal operating income growth than peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Pandemic-related acceleration of digital sales and the need to hold prices down should restrain SG&A expense leverage, limiting operating margins to a 3% to 4% range on average post-pandemic, versus 3.9% in fiscal 2019 (fiscal 2020's 6.2% mark reflected unprecedented cost leverage).",
    "output": "[Cause] Pandemic-related acceleration of digital sales and the need to hold prices down [Relation] prevent [Effect] SG&A expense leverage, limiting operating margins to a 3% to 4% range on average post-pandemic, versus 3.9% in fiscal 2019 (fiscal 2020's 6.2% mark reflected unprecedented cost leverage)",
    "gold": "[Cause] Pandemic-related acceleration of digital sales and the need to hold prices down [Relation] cause [Effect] restrain SG&A expense leverage, limiting operating margins to a 3% to 4% range on average post-pandemic",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Enterprise storage provides a significant opportunity for the firm in the near-term with nearline or business critical storage demands increasing, but this opportunity may quickly evaporate should energy efficiency concerns within data centers and hyperscale cloud players increase.",
    "output": "[Cause] nearline or business critical storage demands increasing [Relation] cause [Effect] Enterprise storage provides a significant opportunity for the firm in the near-term",
    "gold": "[Cause] nearline or business critical storage demands increasing [Relation] cause [Effect] Enterprise storage provides a significant opportunity for the firm in the near-term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Enterprise storage provides a significant opportunity for the firm in the near-term with nearline or business critical storage demands increasing, but this opportunity may quickly evaporate should energy efficiency concerns within data centers and hyperscale cloud players increase.",
    "output": "[Cause] energy efficiency concerns within data centers and hyperscale cloud players increase [Relation] cause [Effect] this opportunity may quickly evaporate",
    "gold": "[Cause] energy efficiency concerns within data centers and hyperscale cloud players increase [Relation] enable [Effect] this opportunity may quickly evaporate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ITP gives customers access to all of Check Point's products with the intention of enticing companies to deploy as many offerings as possible.",
    "output": "[Cause] ITP gives customers access to all of Check Point's products [Relation] enable [Effect] enticing companies to deploy as many offerings as possible",
    "gold": "[Cause] the intention of enticing companies to deploy as many offerings as possible [Relation] enable [Effect] ITP gives customers access to all of Check Point's products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think that if Tesla had started with a mass-market vehicle, it probably would have failed, as too few people would have known about the car and would have been willing to pay for the brand.",
    "output": "[Cause] too few people would have known about the car and would have been willing to pay for the brand [Relation] cause [Effect] if Tesla had started with a mass-market vehicle, it probably would have failed",
    "gold": "[Cause] too few people would have known about the car and would have been willing to pay for the brand [Relation] cause [Effect]  if Tesla had started with a mass-market vehicle, it probably would have failed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the short term, we view Discover's prospects less favorably as the heated rewards environment means customer acquisition costs will weigh on margins.",
    "output": "[Cause] the heated rewards environment means customer acquisition costs will weigh on margins [Relation] cause [Effect] Discover's prospects less favorably",
    "gold": "[Cause] the heated rewards environment means customer acquisition costs will weigh on margins [Relation] prevent [Effect]  Discover's prospects less favorably",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Limited capital requirements and a smaller equipment footprint often prevent economic profits, as customers can more easily balk at higher prices and bring processing in-house.",
    "output": "[Cause] Limited capital requirements and a smaller equipment footprint [Relation] prevent [Effect] economic profits",
    "gold": "[Cause] as customers can more easily balk at higher prices and bring processing in-house [Relation] cause [Effect] Limited capital requirements and a smaller equipment footprint",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Limited capital requirements and a smaller equipment footprint often prevent economic profits, as customers can more easily balk at higher prices and bring processing in-house.",
    "output": "[Cause] Limited capital requirements and a smaller equipment footprint [Relation] prevent [Effect] economic profits",
    "gold": "[Cause] Limited capital requirements and a smaller equipment footprint [Relation] prevent [Effect] economic profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Any weaknesses in the banking sector could lead banks to defer technology purchases, hurting Jack Henry's top line, and any dramatic changes in the structure of the banking industry could have hard-to-predict consequences for the bank technology providers.",
    "output": "[Cause] any dramatic changes in the structure of the banking industry [Relation] cause [Effect] hard-to-predict consequences for the bank technology providers",
    "gold": "[Cause] any dramatic changes in the structure of the banking industry [Relation] enable [Effect] hard-to-predict consequences for the bank technology providers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Beyond this year, there is a clear line of sight on new project startups that should result in production growing, but the previous target of 3.5 million barrels of oil equivalent per day for 2024 will likely be pushed back.",
    "output": "[Cause] new project startups [Relation] cause [Effect] production growing",
    "gold": "[Cause] new project startups [Relation] enable [Effect] production growing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Similarly, we do not see switching costs for restaurants that partner with Grubhub or any of its competitors, as most, if not all, partnerships with restaurants are nonexclusive.",
    "output": "[Cause] most, if not all, partnerships with restaurants are nonexclusive [Relation] cause [Effect] we do not see switching costs for restaurants that partner with Grubhub or any of its competitors",
    "gold": "[Cause] most, if not all, partnerships with restaurants are nonexclusive [Relation] cause [Effect] we do not see switching costs for restaurants that partner with Grubhub or any of its competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In commercial computing, we believe that cost competitiveness between HP, Lenovo, and Dell could weigh on top line growth and operating margins, as the differences between mass market computers are limited, in our view.",
    "output": "[Cause] the differences between mass market computers are limited [Relation] cause [Effect] cost competitiveness between HP, Lenovo, and Dell could weigh on top line growth and operating margins",
    "gold": "[Cause] the differences between mass market computers are limited [Relation] cause [Effect] cost competitiveness between HP, Lenovo, and Dell could weigh on top line growth and operating margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With biopharma R&D growing at a low-single-digit rate and outsourcing penetration increasing steadily, we expect industry growth in the mid- to high single digits over the next 10 years.",
    "output": "[Cause] biopharma R&D growing at a low-single-digit rate and outsourcing penetration increasing steadily [Relation] cause [Effect] industry growth in the mid- to high single digits over the next 10 years",
    "gold": "[Cause] biopharma R&D growing at a low-single-digit rate and outsourcing penetration increasing steadily [Relation] enable [Effect] industry growth in the mid- to high single digits over the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through its ownership in Scania and MAN, the company should benefit from increases in medium- and heavy-duty truck demand on favorable European economic conditions, barring a no-deal Brexit or international trade conflict.",
    "output": "[Cause] its ownership in Scania and MAN [Relation] enable [Effect] the company should benefit from increases in medium- and heavy-duty truck demand on favorable European economic conditions",
    "gold": "[Cause] its ownership in Scania and MAN [Relation] enable [Effect] the company should benefit from increases in medium- and heavy-duty truck demand on favorable European economic conditions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the network buildout matures and the firm gains share, we expect the EBITDA margin will expand back to 45% (excluding stock-based compensation, which we deduct on a consolidated basis) from 43% in 2019.",
    "output": "[Cause] the network buildout matures and the firm gains share [Relation] cause [Effect] the EBITDA margin will expand back to 45% (excluding stock-based compensation, which we deduct on a consolidated basis) from 43% in 2019",
    "gold": "[Cause] the network buildout matures and the firm gains share [Relation] cause [Effect] the EBITDA margin will expand back to 45% (excluding stock-based compensation, which we deduct on a consolidated basis) from 43% in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The food and beverage division is slightly more profitable because of higher value-add for innovative food delivery dispensing components and because food and beverage suppliers tend to be less price sensitive than beauty customers because of industry traditions on accepting higher pass-through supply costs.",
    "output": "[Cause] higher value-add for innovative food delivery dispensing components [Relation] cause [Effect] The food and beverage division is slightly more profitable",
    "gold": "[Cause] higher value-add for innovative food delivery dispensing components [Relation] cause [Effect] The food and beverage division is slightly more profitable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The food and beverage division is slightly more profitable because of higher value-add for innovative food delivery dispensing components and because food and beverage suppliers tend to be less price sensitive than beauty customers because of industry traditions on accepting higher pass-through supply costs.",
    "output": "[Cause] industry traditions on accepting higher pass-through supply costs [Relation] cause [Effect] food and beverage suppliers tend to be less price sensitive than beauty customers",
    "gold": "[Cause] industry traditions on accepting higher pass-through supply costs [Relation] cause [Effect] food and beverage suppliers tend to be less price sensitive than beauty customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect freight demand to continue recovering in 2021, with revenue rising more than 8% on solid intermodal growth (aided by unusually tight truckload market capacity and robust retailer restocking in the first half), automotive volume recovery, and industrial end-market improvement.",
    "output": "[Cause] solid intermodal growth (aided by unusually tight truckload market capacity and robust retailer restocking in the first half), automotive volume recovery, and industrial end-market improvement [Relation] enable [Effect] freight demand to continue recovering in 2021, with revenue rising more than 8%",
    "gold": "[Cause] solid intermodal growth (aided by unusually tight truckload market capacity and robust retailer restocking in the first half), automotive volume recovery, and industrial end-market improvement [Relation] enable [Effect] freight demand to continue recovering in 2021, with revenue rising more than 8%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect freight demand to continue recovering in 2021, with revenue rising more than 8% on solid intermodal growth (aided by unusually tight truckload market capacity and robust retailer restocking in the first half), automotive volume recovery, and industrial end-market improvement.",
    "output": "[Cause] solid intermodal growth (aided by unusually tight truckload market capacity and robust retailer restocking in the first half), automotive volume recovery, and industrial end-market improvement [Relation] enable [Effect] revenue rising more than 8%",
    "gold": "[Cause] unusually tight truckload market capacity and robust retailer restocking in the first half [Relation] enable [Effect] solid intermodal growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast ROICs will remain at mid-teens levels as the economic profits that are generated continue to surpass the company's weighted average cost of capital.",
    "output": "[Cause] the economic profits that are generated continue to surpass the company's weighted average cost of capital [Relation] cause [Effect] ROICs will remain at mid-teens levels",
    "gold": "[Cause] the economic profits that are generated continue to surpass the company's weighted average cost of capital [Relation] cause [Effect] ROICs will remain at mid-teens levels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "TIM's modest fixed-line assets will make it difficult for the company to participate in the move to converged offerings and benefit from increasing adoption of Internet access services.",
    "output": "[Cause] TIM's modest fixed-line assets [Relation] prevent [Effect] the company to participate in the move to converged offerings and benefit from increasing adoption of Internet access services",
    "gold": "[Cause] TIM's modest fixed-line assets [Relation] prevent [Effect]  the company to participate in the move to converged offerings and benefit from increasing adoption of Internet access services",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast revenue growth of 6% in 2021 and remaining in the mid- to high single digits throughout our 10-year forecast, as the firm fills new capacity.",
    "output": "[Cause] the firm fills new capacity [Relation] cause [Effect] revenue growth of 6% in 2021 and remaining in the mid- to high single digits throughout our 10-year forecast",
    "gold": "[Cause] the firm fills new capacity [Relation] cause [Effect] revenue growth of 6% in 2021 and remaining in the mid- to high single digits throughout our 10-year forecast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect upstream oil & gas capital expenditures to mount a resounding recovery from COVID-19, as we don't think the pandemic will have a major long-run impact on oil demand.",
    "output": "[Cause] we don't think the pandemic will have a major long-run impact on oil demand [Relation] cause [Effect] upstream oil & gas capital expenditures to mount a resounding recovery from COVID-19",
    "gold": "[Cause] we don't think the pandemic will have a major long-run impact on oil demand [Relation] cause [Effect] upstream oil & gas capital expenditures to mount a resounding recovery from COVID-19",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given its ability to profitably monetize its network via advertising, we think Facebook will more likely than not generate excess returns on capital over the next 20 years.",
    "output": "[Cause] its ability to profitably monetize its network via advertising [Relation] cause [Effect] Facebook will more likely than not generate excess returns on capital over the next 20 years",
    "gold": "[Cause]  its ability to profitably monetize its network via advertising [Relation] enable [Effect]  Facebook will more likely than not generate excess returns on capital over the next 20 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This translates into 16% top-line growth in 2021, followed by average annual growth of 6% through 2025 fueled primarily by the cardiovascular and med-surg segments and the addition of BTG.",
    "output": "[Cause] the cardiovascular and med-surg segments and the addition of BTG [Relation] cause [Effect] This translates into 16% top-line growth in 2021, followed by average annual growth of 6% through 2025",
    "gold": "[Cause] the cardiovascular and med-surg segments and the addition of BTG [Relation] cause [Effect] This translates into 16% top-line growth in 2021, followed by average annual growth of 6% through 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, given the firm's consistent long-term track record and expansive scale, we expect Colgate's gross margins won't falter (after dipping to just 57% in fiscal 2011, significantly below its prior aim for gross margins in excess of 60%).",
    "output": "[Cause] the firm's consistent long-term track record and expansive scale [Relation] cause [Effect] Colgate's gross margins won't falter",
    "gold": "[Cause] the firm's consistent long-term track record and expansive scale [Relation] cause [Effect] Colgate's gross margins won't falter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With an increase in ad inventory sales, plus growth in freemium and podcast users, ad-supported ARPU can grow at an average annual rate of 23% to EUR 2.65 through 2030, up from EUR 0.35 in 2020.",
    "output": "[Cause] an increase in ad inventory sales, plus growth in freemium and podcast users [Relation] enable [Effect] ad-supported ARPU can grow at an average annual rate of 23% to EUR 2.65 through 2030, up from EUR 0.35 in 2020",
    "gold": "[Cause] an increase in ad inventory sales, plus growth in freemium and podcast users [Relation] enable [Effect] ad-supported ARPU can grow at an average annual rate of 23% to EUR 2.65 through 2030, up from EUR 0.35 in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Risks surrounding a additional waves of COVID-19 cases and elongated time until an effective treatment and vaccine are widely distributed, which could delay our forecast recovery in demand.",
    "output": "[Cause] Risks surrounding a additional waves of COVID-19 cases and elongated time until an effective treatment and vaccine are widely distributed [Relation] cause [Effect] delay our forecast recovery in demand",
    "gold": "[Cause] Risks surrounding a additional waves of COVID-19 cases and elongated time until an effective treatment and vaccine are widely distributed [Relation] cause [Effect] delay our forecast recovery in demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Gas and diesel engines produce toxic pollutants that can render air harmful to breathe, and the Clean Air Act was the first legislation to target a reduction in those emissions.",
    "output": "[Cause] Gas and diesel engines produce toxic pollutants [Relation] cause [Effect] render air harmful to breathe",
    "gold": "[Cause] Gas and diesel engines produce toxic pollutants [Relation] cause [Effect] render air harmful to breathe",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If other browsers, such as Google's Chrome, were to follow in Apple's ITP footsteps, the effectiveness of Criteo's retargeting offering could be further hit.",
    "output": "[Cause] other browsers, such as Google's Chrome, were to follow in Apple's ITP footsteps [Relation] cause [Effect] the effectiveness of Criteo's retargeting offering could be further hit",
    "gold": "[Cause] other browsers, such as Google's Chrome, were to follow in Apple's ITP footsteps [Relation] cause [Effect] the effectiveness of Criteo's retargeting offering could be further hit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The pandemic injects considerable uncertainty into forecasting Dollar Tree's near-term results, as consumables spending rises as shoppers stock up, high unemployment pressures discretionary income (but also creates trade-down), and supply chains are disrupted.",
    "output": "[Cause] consumables spending rises as shoppers stock up, high unemployment pressures discretionary income (but also creates trade-down), and supply chains are disrupted [Relation] cause [Effect] The pandemic injects considerable uncertainty into forecasting Dollar Tree's near-term results",
    "gold": "[Cause] consumables spending rises as shoppers stock up, high unemployment pressures discretionary income (but also creates trade-down), and supply chains are disrupted [Relation] cause [Effect] The pandemic injects considerable uncertainty into forecasting Dollar Tree's near-term results",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Telecommunication services are considered public goods in several countries, which leads to regulators scrutinizing a firm's network quality and pricing regularly. This can lead to the introduction of new players: this happened with Iliad in France in 2012, when regulators conclude that consumer welfare is not good enough.",
    "output": "[Cause] Telecommunication services are considered public goods in several countries, which leads to regulators scrutinizing a firm's network quality and pricing regularly [Relation] cause [Effect] the introduction of new players: this happened with Iliad in France in 2012, when regulators conclude that consumer welfare is not good enough",
    "gold": "[Cause] Telecommunication services are considered public goods in several countries, which leads to regulators scrutinizing a firm's network quality and pricing regularly [Relation] cause [Effect] the introduction of new players: this happened with Iliad in France in 2012, when regulators conclude that consumer welfare is not good enough",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In contrast to Coloplast's dominant positions in ostomy and continence care, ConvaTec is strongest in advanced wound care and infusion sets for insulin pumps, thanks to investments and acquisitions by its private equity owners.",
    "output": "[Cause] investments and acquisitions by its private equity owners [Relation] cause [Effect] ConvaTec is strongest in advanced wound care and infusion sets for insulin pumps",
    "gold": "[Cause]  investments and acquisitions by its private equity owners [Relation] cause [Effect] ConvaTec is strongest in advanced wound care and infusion sets for insulin pumps",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This is witnessed with its Qunar deal, where it only acquired a 48% stake, and Baidu still holding some Qunar shares, partly to avoid antitrust investigation by the Chinese government.",
    "output": "[Cause] avoid antitrust investigation by the Chinese government [Relation] cause [Effect] Baidu still holding some Qunar shares",
    "gold": "[Cause] avoid antitrust investigation by the Chinese government [Relation] cause [Effect] Baidu still holding some Qunar shares",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Products like the cores used for toilet paper or paper towels generally rely on population growth, given high penetration rates and Sonoco's already dominant market share.",
    "output": "[Cause] high penetration rates and Sonoco's already dominant market share [Relation] cause [Effect] Products like the cores used for toilet paper or paper towels generally rely on population growth",
    "gold": "[Cause]  high penetration rates and Sonoco's already dominant market share [Relation] cause [Effect] Products like the cores used for toilet paper or paper towels generally rely on population growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, as Siemens AG has employed an ethics code for its suppliers and is working on reducing business ethics risks, we would not expect material fines that might be associated with widespread internal ethics issues.",
    "output": "[Cause] Siemens AG has employed an ethics code for its suppliers and is working on reducing business ethics risks [Relation] cause [Effect] we would not expect material fines that might be associated with widespread internal ethics issues",
    "gold": "[Cause] Siemens AG has employed an ethics code for its suppliers and is working on reducing business ethics risks [Relation] cause [Effect] we would not expect material fines that might be associated with widespread internal ethics issues",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The store base has grown about 29% over the past five years to about 1,920 locations (around 2,100 including Petsense), driving sales and EPS compound annual growth rates over the past three years of 14% and 27%, respectively.",
    "output": "[Cause] The store base has grown about 29% over the past five years to about 1,920 locations (around 2,100 including Petsense) [Relation] enable [Effect] sales and EPS compound annual growth rates over the past three years of 14% and 27%, respectively",
    "gold": "[Cause] The store base has grown about 29% over the past five years [Relation] enable [Effect] driving sales and EPS compound annual growth rates over the past three years of 14% and 27%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we've long opined Church is dwarfed by the scale, resources, and negotiating prowess of its larger peers, and such actions, if not followed by the rest of its peer set, could lead to volume compression in subsequent periods.",
    "output": "[Cause] not followed by the rest of its peer set [Relation] cause [Effect] volume compression in subsequent periods",
    "gold": "[Cause] not followed by the rest of its peer set [Relation] cause [Effect]  volume compression in subsequent periods",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sanofi's entrenched rare-disease drug, consumer, and vaccine franchises create added layers of competitive advantages, stemming from efficient scale in some rare-disease drugs, brand power in consumer, and some cost advantages in the vaccines division.",
    "output": "[Cause] efficient scale in some rare-disease drugs, brand power in consumer, and some cost advantages in the vaccines division [Relation] cause [Effect] added layers of competitive advantages",
    "gold": "[Cause] Sanofi's entrenched rare-disease drug, consumer, and vaccine franchises [Relation] cause [Effect] added layers of competitive advantages",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Partnering DaimlerChrysler aerospace engineers worked with different design software than that of Airbus engineers, leading to copper and aluminum wiring for the plane being too short as a result of the different software programs 2 Jun 2021 05:00, UTCcalculating wire bend radii differently.",
    "output": "[Cause] the different software programs 2 Jun 2021 05:00 [Relation] cause [Effect] UTCcalculating wire bend radii differently",
    "gold": "[Cause] Partnering DaimlerChrysler aerospace engineers worked with different design software than that of Airbus engineers [Relation] cause [Effect] copper and aluminum wiring for the plane being too short",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In terms of ESG-related risks, because Norfolk carries freight for chemical end-market shippers, it is subject to the liabilities associated with hazardous material spills.",
    "output": "[Cause] Norfolk carries freight for chemical end-market shippers [Relation] cause [Effect] it is subject to the liabilities associated with hazardous material spills",
    "gold": "[Cause] Norfolk carries freight for chemical end-market shippers [Relation] cause [Effect] it is subject to the liabilities associated with hazardous material spills",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We now believe Eaton will likely hit all its upward revised targets by 2025, save for its eMobility margin aspirations, given continued investment needs there.",
    "output": "[Cause] continued investment needs there [Relation] cause [Effect] Eaton will likely hit all its upward revised targets by 2025",
    "gold": "[Cause] continued investment needs there [Relation] enable [Effect] Eaton will likely hit all its upward revised targets by 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Any time regulatory agencies change the guidelines for livestock and poultry testing, or if the protein markets suffer from excess supply and prolonged low prices, this has ripple effects for that part of Idexx's business.",
    "output": "[Cause] regulatory agencies change the guidelines for livestock and poultry testing, or if the protein markets suffer from excess supply and prolonged low prices [Relation] cause [Effect] ripple effects for that part of Idexx's business",
    "gold": "[Cause]  regulatory agencies change the guidelines for livestock and poultry testing, or if the protein markets suffer from excess supply and prolonged low prices [Relation] cause [Effect]  ripple effects for that part of Idexx's business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We apply an 11.0% cost of equity assumption due to our belief that Steel Dynamics is subject to an above-average level of systematic risk.",
    "output": "[Cause] our belief that Steel Dynamics is subject to an above-average level of systematic risk [Relation] cause [Effect] We apply an 11.0% cost of equity assumption",
    "gold": "[Cause] our belief that Steel Dynamics is subject to an above-average level of systematic risk [Relation] cause [Effect] We apply an 11.0% cost of equity assumption",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Dropbox gained initial traction following its founding in 2007, as it was one of the first companies to take file storage to the cloud.",
    "output": "[Cause] it was one of the first companies to take file storage to the cloud [Relation] cause [Effect] Dropbox gained initial traction following its founding in 2007",
    "gold": "[Cause] it was one of the first companies to take file storage to the cloud [Relation] enable [Effect] Dropbox gained initial traction following its founding in 2007",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that Rolls-Royce's exposure to wide-body engines heightens this risk as we believe long-haul travel will take longer to recover than short-haul travel as a result of lingering international travel restrictions.",
    "output": "[Cause] long-haul travel will take longer to recover than short-haul travel as a result of lingering international travel restrictions [Relation] cause [Effect] Rolls-Royce's exposure to wide-body engines heightens this risk",
    "gold": "[Cause]  long-haul travel will take longer to recover than short-haul travel as a result of lingering international travel restrictions [Relation] cause [Effect] Rolls-Royce's exposure to wide-body engines heightens this risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Hospitals are more likely to choose a sterilization provider that can provide the quickest turnaround time because of the pass-through shipping and handling costs, and to reduce the time cost of having devices unavailable.",
    "output": "[Cause] the pass-through shipping and handling costs, and to reduce the time cost of having devices unavailable [Relation] cause [Effect] Hospitals are more likely to choose a sterilization provider that can provide the quickest turnaround time",
    "gold": "[Cause]  to reduce the time cost of having devices unavailable | because of the pass-through shipping and handling costs [Relation] enable [Effect] Hospitals are more likely to choose a sterilization provider that can provide the quickest turnaround time",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The treasure hunt experience and low-frills environment enable steep discounts relative to the full-price channel (up to 60% for Burlington), limiting price gaps.",
    "output": "[Cause] The treasure hunt experience and low-frills environment [Relation] enable [Effect] steep discounts relative to the full-price channel (up to 60% for Burlington)",
    "gold": "[Cause] The treasure hunt experience and low-frills environment [Relation] enable [Effect] steep discounts relative to the full-price channel (up to 60% for Burlington)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The treasure hunt experience and low-frills environment enable steep discounts relative to the full-price channel (up to 60% for Burlington), limiting price gaps.",
    "output": "[Cause] steep discounts relative to the full-price channel (up to 60% for Burlington) [Relation] prevent [Effect] price gaps",
    "gold": "[Cause] steep discounts relative to the full-price channel (up to 60% for Burlington) [Relation] prevent [Effect] price gaps",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, the residential HVAC service market is almost exclusively third-party owned and operated, so manufacturers don't generate service revenue from residential equipment sales (although they do generate revenue from replacement parts).",
    "output": "[Cause] the residential HVAC service market is almost exclusively third-party owned and operated [Relation] cause [Effect] manufacturers don't generate service revenue from residential equipment sales",
    "gold": "[Cause] the residential HVAC service market is almost exclusively third-party owned and operated [Relation] cause [Effect] manufacturers don't generate service revenue from residential equipment sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, these headwinds are dissipating, and we think FedEx's heavy investment spending will pay off in greater efficiency and an enhanced ability to capitalize on e-commerce tailwinds.",
    "output": "[Cause] FedEx's heavy investment spending [Relation] enable [Effect] greater efficiency and an enhanced ability to capitalize on e-commerce tailwinds",
    "gold": "[Cause] FedEx's heavy investment spending [Relation] enable [Effect] greater efficiency and an enhanced ability to capitalize on e-commerce tailwinds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The acquisition of Mead Johnson may not be rich in cost synergies, but it gives Reckitt exposure to another consumer health business with pricing power and wide margins.",
    "output": "[Cause] The acquisition of Mead Johnson [Relation] enable [Effect] Reckitt exposure to another consumer health business with pricing power and wide margins",
    "gold": "[Cause] The acquisition of Mead Johnson [Relation] cause [Effect] Reckitt exposure to another consumer health business with pricing power and wide margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we view the overall uncertainty as low given the high level of diversity within the company's broad drug portfolio.",
    "output": "[Cause] the high level of diversity within the company's broad drug portfolio [Relation] cause [Effect] we view the overall uncertainty as low",
    "gold": "[Cause]  the high level of diversity within the company's broad drug portfolio [Relation] cause [Effect] we view the overall uncertainty as low",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, new use cases in particular are critical in driving long-term growth, as the service desk solution is applicable throughout an enterprise, whereas the IT-centric products have a narrower market.",
    "output": "[Cause] the service desk solution is applicable throughout an enterprise [Relation] cause [Effect] new use cases in particular are critical in driving long-term growth",
    "gold": "[Cause] new use cases [Relation] enable [Effect] driving long-term growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Thus, we also expect a five-year average gross margin of 54.5% from fiscal 2021 to fiscal 2025 from 55.1% in fiscal 2020, due to improving utilization with increasing student demand and average selling price hikes.",
    "output": "[Cause] improving utilization with increasing student demand and average selling price hikes [Relation] cause [Effect] a five-year average gross margin of 54.5% from fiscal 2021 to fiscal 2025 from 55.1% in fiscal 2020",
    "gold": "[Cause]  improving utilization with increasing student demand and average selling price hikes [Relation] cause [Effect] a five-year average gross margin of 54.5% from fiscal 2021 to fiscal 2025 from 55.1% in fiscal 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect that figure to rebound to the 20% mark over the next five years, slightly higher than guidance, supported by Unilever's cost-savings program, which should help mitigate pressure from the intensely competitive environment.",
    "output": "[Cause] figure to rebound to the 20% mark over the next five years, slightly higher than guidance, supported by Unilever's cost-savings program [Relation] enable [Effect] help mitigate pressure from the intensely competitive environment",
    "gold": "[Cause] figure to rebound to the 20% mark over the next five years, slightly higher than guidance, supported by Unilever's cost-savings program [Relation] enable [Effect]  help mitigate pressure from the intensely competitive environment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that customers adopting multiple cloud modules is a natural movement as entities struggle with managing various security toolsets from different vendors.",
    "output": "[Cause] entities struggle with managing various security toolsets from different vendors [Relation] cause [Effect] customers adopting multiple cloud modules is a natural movement",
    "gold": "[Cause] entities struggle with managing various security toolsets from different vendors [Relation] cause [Effect] customers adopting multiple cloud modules is a natural movement",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Market gains in the aftermath of the COVID-19 selloff during the first quarter helped lift total AUM above 2019 levels.",
    "output": "[Cause] Market gains in the aftermath of the COVID-19 selloff during the first quarter [Relation] enable [Effect] lift total AUM above 2019 levels",
    "gold": "[Cause] Market gains in the aftermath of the COVID-19 selloff during the first quarter [Relation] enable [Effect]  lift total AUM above 2019 levels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cash equity trading at the NYSE will likely decline from its current highs as retail interest in equity markets fades, before returning to growth.",
    "output": "[Cause] retail interest in equity markets fades [Relation] cause [Effect] Cash equity trading at the NYSE will likely decline from its current highs",
    "gold": "[Cause] retail interest in equity markets fades [Relation] enable [Effect] Cash equity trading at the NYSE will likely decline from its current highs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The hallmark of the combination of Kraft and Heinz had resided in its ability to extract a significant degree of costs from its operations (with operating margins that now hover in the low 20s, materially above the mid- to high teens its peers boast).",
    "output": "[Cause] The hallmark of the combination of Kraft and Heinz had resided in its ability to extract a significant degree of costs from its operations [Relation] enable [Effect] operating margins that now hover in the low 20s, materially above the mid- to high teens its peers boast",
    "gold": "[Cause] The hallmark of the combination of Kraft and Heinz [Relation] enable [Effect] extract a significant degree of costs from its operations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, consumer electronic products are often differentiated by price, making industry players like Amazon and Walmart threats to Best Buy's market position.",
    "output": "[Cause] consumer electronic products are often differentiated by price [Relation] cause [Effect] making industry players like Amazon and Walmart threats to Best Buy's market position",
    "gold": "[Cause] consumer electronic products are often differentiated by price [Relation] enable [Effect] making industry players like Amazon and Walmart threats to Best Buy's market position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Equifax's competitive position to persist as the large amount of existing records and the difficulty of convincing employers to share employee information would be too tough for new entrants to overcome.",
    "output": "[Cause] the large amount of existing records and the difficulty of convincing employers to share employee information would be too tough for new entrants to overcome [Relation] cause [Effect] Equifax's competitive position to persist",
    "gold": "[Cause] the large amount of existing records and the difficulty of convincing employers to share employee information would be too tough for new entrants to overcome [Relation] enable [Effect] Equifax's competitive position to persist",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While traditional agencies like WPP and Omnicom also have digital agency offerings, Accenture has been able to make it in the top 10 marketing agencies worldwide (according to Ad Age) because it already had the technology expertise and relevant customer relationships.",
    "output": "[Cause] it already had the technology expertise and relevant customer relationships [Relation] cause [Effect] Accenture has been able to make it in the top 10 marketing agencies worldwide",
    "gold": "[Cause]  it already had the technology expertise and relevant customer relationships [Relation] cause [Effect] Accenture has been able to make it in the top 10 marketing agencies worldwide",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For commercial airlines, the company provides equipment to enable Wi-Fi for passengers by capturing satellite signals from an antenna placed on the tail of the aircraft.",
    "output": "[Cause] the company provides equipment to enable Wi-Fi for passengers by capturing satellite signals from an antenna placed on the tail of the aircraft [Relation] enable [Effect] commercial airlines",
    "gold": "[Cause] the company provides equipment | capturing satellite signals from an antenna placed on the tail of the aircraft [Relation] enable [Effect] Wi-Fi for passengers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Cost advantages stem from three primary factors: a low-cost deposit base, excellent operating efficiency, and conservative underwriting, with regulatory costs an additional consideration.",
    "output": "[Cause] a low-cost deposit base, excellent operating efficiency, and conservative underwriting, with regulatory costs an additional consideration [Relation] cause [Effect] Cost advantages",
    "gold": "[Cause] a low-cost deposit base, excellent operating efficiency, and conservative underwriting, with regulatory costs an additional consideration [Relation] enable [Effect] Cost advantages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Rockstar does incur development and supports costs for \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"GTA Online,\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" but we believe that the microtransactions and added sales more than offset those additional costs.",
    "output": "[Cause] the microtransactions and added sales [Relation] prevent [Effect] those additional costs",
    "gold": "[Cause] the microtransactions and added sales [Relation] prevent [Effect] those additional costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With Royal Caribbean and Carnival able to cut prices when necessary, we see Norwegian as a price-taker in certain instances, primarily during economic slowdowns of longer durations, during times of geopolitical uncertainty, or in response to a global pandemic.",
    "output": "[Cause] Royal Caribbean and Carnival able to cut prices when necessary [Relation] cause [Effect] Norwegian as a price-taker in certain instances",
    "gold": "[Cause]  Royal Caribbean and Carnival able to cut prices when necessary [Relation] cause [Effect] Norwegian as a price-taker in certain instances",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We only foresee some slight leverage on gross margins, as we think the firm will continue to invest in A&R. As a result, gross margin for publishing improves by only 50 basis points from fiscal 2019 to 38.2% in fiscal 2025.",
    "output": "[Cause] We only foresee some slight leverage on gross margins, as we think the firm will continue to invest in A&R [Relation] cause [Effect] gross margin for publishing improves by only 50 basis points from fiscal 2019 to 38.2% in fiscal 2025",
    "gold": "[Cause] We only foresee some slight leverage on gross margins, as we think the firm will continue to invest in A&R [Relation] cause [Effect] gross margin for publishing improves by only 50 basis points from fiscal 2019 to 38.2% in fiscal 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect that profitability at NBCU will suffer over the next couple of years but that the maturation of Peacock and growth in the high-margin theme park business will enable EBITDA margins to return to the mid-20s by 2024.",
    "output": "[Cause] the maturation of Peacock and growth in the high-margin theme park business [Relation] enable [Effect] EBITDA margins to return to the mid-20s by 2024",
    "gold": "[Cause] the maturation of Peacock and growth in the high-margin theme park business will enable EBITDA margins to return to the mid-20s by 2024 [Relation] cause [Effect] profitability at NBCU will suffer over the next couple of years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Moreover, operators' lack of practice and familiarity with required procedures often lead to heightened chances of accidents and waste, and a breakdown in a plant's existing systems can translate to heavy losses (which some estimates peg up to $1 million in losses per plant).",
    "output": "[Cause] operators' lack of practice and familiarity with required procedures [Relation] cause [Effect] heightened chances of accidents and waste",
    "gold": "[Cause] operators' lack of practice and familiarity with required procedures [Relation] cause [Effect] heightened chances of accidents and waste",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, operators' lack of practice and familiarity with required procedures often lead to heightened chances of accidents and waste, and a breakdown in a plant's existing systems can translate to heavy losses (which some estimates peg up to $1 million in losses per plant).",
    "output": "[Cause] operators' lack of practice and familiarity with required procedures [Relation] cause [Effect] heightened chances of accidents and waste",
    "gold": "[Cause] a breakdown in a plant's existing systems [Relation] cause [Effect] heavy losses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Honda's brand and reputation for quality drive demand for its vehicles, but its longtime niche in fuel-efficient cars historically positioned the company well to take advantage of consumers seeking more fuel-efficient vehicles.",
    "output": "[Cause] its longtime niche in fuel-efficient cars historically [Relation] enable [Effect] positioned the company well to take advantage of consumers seeking more fuel-efficient vehicles",
    "gold": "[Cause] Honda's brand and reputation [Relation] enable [Effect] quality drive demand for its vehicles",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Moody's adjusted EBITDA margin was 50% in 2020, and while we expect margins to be flat in 2021 as 2020 was a banner year for issuance, we expect margins to expand thereafter.",
    "output": "[Cause] 2020 was a banner year for issuance [Relation] cause [Effect] margins to be flat in 2021",
    "gold": "[Cause] 2020 was a banner year for issuance [Relation] cause [Effect] margins to be flat in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the COVID-19 outbreak has lifted near-term revenue as shoppers spend more time at home, increased digital transactions could linger, shifting sales into a less lucrative channel long term.",
    "output": "[Cause] shoppers spend more time at home [Relation] cause [Effect] the COVID-19 outbreak has lifted near-term revenue",
    "gold": "[Cause] shoppers spend more time at home [Relation] cause [Effect] increased digital transactions could linger",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although the COVID-19 outbreak has lifted near-term revenue as shoppers spend more time at home, increased digital transactions could linger, shifting sales into a less lucrative channel long term.",
    "output": "[Cause] increased digital transactions could linger [Relation] cause [Effect] shifting sales into a less lucrative channel long term",
    "gold": "[Cause] increased digital transactions could linger [Relation] cause [Effect] shifting sales into a less lucrative channel long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the COVID-19 outbreak has lifted near-term revenue as shoppers spend more time at home, increased digital transactions could linger, shifting sales into a less lucrative channel long term.",
    "output": "[Cause] increased digital transactions could linger [Relation] cause [Effect] shifting sales into a less lucrative channel long term",
    "gold": "[Cause] COVID-19 outbreak [Relation] cause [Effect] lifted near-term revenue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, agents are freed from tasks such as prospecting and schedule management, allowing them to focus on being a resource to their clients.",
    "output": "[Cause] agents are freed from tasks such as prospecting and schedule management [Relation] enable [Effect] focus on being a resource to their clients",
    "gold": "[Cause] agents are freed from tasks such as prospecting and schedule management [Relation] enable [Effect] focus on being a resource to their clients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From a geographic perspective, SEI generates approximately 83% of its revenue in the United States, with the United Kingdom about 10% of revenue and the remainder from Canada and Ireland. As a result, we believe SEI's foreign-exchange rate risk is minimal, and SEI has a natural offset with its expenses in foreign currencies.",
    "output": "[Cause] SEI generates approximately 83% of its revenue in the United States, with the United Kingdom about 10% of revenue and the remainder from Canada and Ireland [Relation] cause [Effect] SEI's foreign-exchange rate risk is minimal, and SEI has a natural offset with its expenses in foreign currencies",
    "gold": "[Cause] SEI generates approximately 83% of its revenue in the United States, with the United Kingdom about 10% of revenue and the remainder from Canada and Ireland [Relation] cause [Effect] SEI's foreign-exchange rate risk is minimal, and SEI has a natural offset with its expenses in foreign currencies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the firm needing to make product to meet demand that is years away, any materially erroneous assumptions regarding consumer preferences or general competitive dynamics could have dire consequences.",
    "output": "[Cause] the firm needing to make product to meet demand that is years away [Relation] cause [Effect] any materially erroneous assumptions regarding consumer preferences or general competitive dynamics could have dire consequences",
    "gold": "[Cause] any materially erroneous assumptions regarding consumer preferences or general competitive dynamics [Relation] cause [Effect] dire consequences",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With the firm needing to make product to meet demand that is years away, any materially erroneous assumptions regarding consumer preferences or general competitive dynamics could have dire consequences.",
    "output": "[Cause] any materially erroneous assumptions regarding consumer preferences or general competitive dynamics [Relation] cause [Effect] dire consequences",
    "gold": "[Cause] any materially erroneous assumptions regarding consumer preferences or general competitive dynamics [Relation] prevent [Effect] product to meet demand that is years away",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To relieve the unprecedented bottleneck and facilitate care, the federal government acted to ease regulation and provider reimbursement for telehealth, which have been major constraints on the industry.",
    "output": "[Cause] the federal government acted to ease regulation and provider reimbursement for telehealth [Relation] enable [Effect] relieve the unprecedented bottleneck and facilitate care",
    "gold": "[Cause] the federal government acted to ease regulation and provider reimbursement for telehealth [Relation] enable [Effect] relieve the unprecedented bottleneck and facilitate care",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To relieve the unprecedented bottleneck and facilitate care, the federal government acted to ease regulation and provider reimbursement for telehealth, which have been major constraints on the industry.",
    "output": "[Cause] the federal government acted to ease regulation and provider reimbursement for telehealth [Relation] enable [Effect] relieve the unprecedented bottleneck and facilitate care",
    "gold": "[Cause] the federal government acted to ease regulation and provider reimbursement for telehealth [Relation] prevent [Effect] have been major constraints on the industry",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After reviewing Parker's fiscal second-quarter results, which once again moved well past our estimates on both the top and bottom lines, we raise our fair value estimate by 15% to $257 from $223 previously.",
    "output": "[Cause] Parker's fiscal second-quarter results, which once again moved well past our estimates on both the top and bottom lines [Relation] cause [Effect] we raise our fair value estimate by 15% to $257 from $223 previously",
    "gold": "[Cause] Parker's fiscal second-quarter results, which once again moved well past our estimates on both the top and bottom lines [Relation] cause [Effect] we raise our fair value estimate by 15% to $257 from $223 previously",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Current returns stand in the high-teens, but we think they could reach the lower-20s, strongly driven by the medical market.",
    "output": "[Cause] the medical market [Relation] cause [Effect] they could reach the lower-20s",
    "gold": "[Cause] the medical market [Relation] enable [Effect] they could reach the lower-20s",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There has been a substantial push for military modernization under the Trump administration as the updated National Defense Strategy prioritized protecting against great powers conflict.",
    "output": "[Cause] the updated National Defense Strategy prioritized protecting against great powers conflict [Relation] cause [Effect] There has been a substantial push for military modernization under the Trump administration",
    "gold": "[Cause]  the updated National Defense Strategy prioritized protecting against great powers conflict [Relation] cause [Effect] There has been a substantial push for military modernization under the Trump administration",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "West's ability to rapidly identify effective design options and ramp component production allows the firm to maintain a solidified position in the pharmaceutical supply chain.",
    "output": "[Cause] West's ability to rapidly identify effective design options and ramp component production [Relation] enable [Effect] the firm to maintain a solidified position in the pharmaceutical supply chain",
    "gold": "[Cause] West's ability to rapidly identify effective design options and ramp component production [Relation] enable [Effect] the firm to maintain a solidified position in the pharmaceutical supply chain",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the firm will have to invest heavily in research and development to maintain a competitive advantage in its touch, display, and fingerprint technologies across end markets as well as develop its acquired capabilities for video and audio if it aims to be successful. Consequently, we expect a long-term research and development spending rate as a percentage of sales in the high teens implying a long-term operating margin near 14% as we reach midcycle.",
    "output": "[Cause] the firm will have to invest heavily in research and development to maintain a competitive advantage in its touch, display, and fingerprint technologies across end markets as well as develop its acquired capabilities for video and audio if it aims to be successful [Relation] cause [Effect] a long-term research and development spending rate as a percentage of sales in the high teens implying a long-term operating margin near 14% as we reach midcycle",
    "gold": "[Cause]  the firm will have to invest heavily in research and development to maintain a competitive advantage in its touch, display, and fingerprint technologies across end markets as well as develop its acquired capabilities for video and audio if it aims to be successful [Relation] cause [Effect] a long-term research and development spending rate as a percentage of sales in the high teens implying a long-term operating margin near 14% as we reach midcycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Payments and other technology investments bleed over into the corporate payments space, where Wells' strong treasury and payments management platform has helped the bank maintain excellent share in the commercial market, particularly with middle-market business clients.",
    "output": "[Cause] Wells' strong treasury and payments management platform [Relation] enable [Effect] the bank maintain excellent share in the commercial market, particularly with middle-market business clients",
    "gold": "[Cause] Wells' strong treasury and payments management platform [Relation] enable [Effect] the bank maintain excellent share in the commercial market, particularly with middle-market business clients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We doubt that AT&T's transformation into a diversified media and telecom company will deliver significant strategic benefits, as we don't believe these industries complement each other well, despite their close association.",
    "output": "[Cause] we don't believe these industries complement each other well [Relation] cause [Effect] We doubt that AT&T's transformation into a diversified media and telecom company will deliver significant strategic benefits",
    "gold": "[Cause]  we don't believe these industries complement each other well [Relation] cause [Effect] We doubt that AT&T's transformation into a diversified media and telecom company will deliver significant strategic benefits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For instance, if a customer decided to replace Coupa's platform with that of a different vendor, it would lose access to potentially crucial supplier information and relationships, the capability to negotiate discounts, and the cost-saving insights garnered by Community Intelligence.",
    "output": "[Cause] a customer decided to replace Coupa's platform with that of a different vendor [Relation] cause [Effect] it would lose access to potentially crucial supplier information and relationships, the capability to negotiate discounts, and the cost-saving insights garnered by Community Intelligence",
    "gold": "[Cause] a customer decided to replace Coupa's platform with that of a different vendor [Relation] cause [Effect] it would lose access to potentially crucial supplier information and relationships, the capability to negotiate discounts, and the cost-saving insights garnered by Community Intelligence",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its products employ better efficiency and output (measured by cost per work completed or cost per ton) for customers compared with competitors, allowing them to spread costs over the lifetime of equipment (operating leverage as work output increases).",
    "output": "[Cause] Its products employ better efficiency and output (measured by cost per work completed or cost per ton) for customers compared with competitors [Relation] enable [Effect] them to spread costs over the lifetime of equipment (operating leverage as work output increases)",
    "gold": "[Cause] Its products employ better efficiency and output (measured by cost per work completed or cost per ton) for customers compared with competitors [Relation] enable [Effect]  them to spread costs over the lifetime of equipment (operating leverage as work output increases)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, the company's portfolio should produce higher tenant sales productivity, occupancy levels and rent and therefore is much better-positioned to face the economic headwinds of e-commerce.",
    "output": "[Cause] the company's portfolio should produce higher tenant sales productivity, occupancy levels and rent [Relation] cause [Effect] much better-positioned to face the economic headwinds of e-commerce",
    "gold": "[Cause]  the company's portfolio should produce higher tenant sales productivity, occupancy levels and rent [Relation] cause [Effect]  much better-positioned to face the economic headwinds of e-commerce",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the firm is unable to effectively source and integrate new employees, it could lead to operational costs and business disruption.",
    "output": "[Cause] the firm is unable to effectively source and integrate new employees [Relation] cause [Effect] operational costs and business disruption",
    "gold": "[Cause] the firm is unable to effectively source and integrate new employees [Relation] cause [Effect]  operational costs and business disruption",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We posit Juniper's routing and security products, alongside its software to simplify network orchestration and management, offer complementary products that could be appealing to networking build outs that connect the centralized data center to the wide-area network.",
    "output": "[Cause] Juniper's routing and security products, alongside its software to simplify network orchestration and management, offer complementary products [Relation] enable [Effect] appeal to networking build outs that connect the centralized data center to the wide-area network",
    "gold": "[Cause] Juniper's routing and security products, alongside its software to simplify network orchestration and management, offer complementary products [Relation] cause [Effect] appealing to networking build outs that connect the centralized data center to the wide-area network",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm acquired control of Hanaro Telecom in 2008, which enables SK Telecom to offer bundles of wireless and fixed-line telephony and broadband services to better compete with KT.",
    "output": "[Cause] The firm acquired control of Hanaro Telecom in 2008 [Relation] enable [Effect] SK Telecom to offer bundles of wireless and fixed-line telephony and broadband services to better compete with KT",
    "gold": "[Cause] The firm acquired control of Hanaro Telecom in 2008 [Relation] enable [Effect] SK Telecom to offer bundles of wireless and fixed-line telephony and broadband services to better compete with KT",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the sometimes daunting compliance and reporting requirements, human resources departments often do not risk substituting their payroll service provider out of fear it could result in errors that could lead to fines.",
    "output": "[Cause] the sometimes daunting compliance and reporting requirements [Relation] cause [Effect] human resources departments often do not risk substituting their payroll service provider",
    "gold": "[Cause] the sometimes daunting compliance and reporting requirements [Relation] cause [Effect] human resources departments often do not risk substituting their payroll service provider",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see several idiosyncratic factors that will help Carrier achieve it goal of mid-single-digit sales growth, including higher service attachment rates, applied HVAC market share gains, increased demand for air-filtration and touchless access control solutions, and new product introductions with higher average selling prices.",
    "output": "[Cause] several idiosyncratic factors [Relation] enable [Effect] help Carrier achieve it goal of mid-single-digit sales growth",
    "gold": "[Cause] higher service attachment rates, applied HVAC market share gains, increased demand for air-filtration and touchless access control solutions, and new product introductions with higher average selling prices [Relation] enable [Effect] help Carrier achieve it goal of mid-single-digit sales growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "It is provided as a vendor-agnostic solution for customers, as entities can dislike the notion of using the same vendor for their applications and user security due to vendor lock-in and not having straightforward access and security monitoring across other vendors' applications.",
    "output": "[Cause] vendor lock-in and not having straightforward access and security monitoring across other vendors' applications [Relation] cause [Effect] entities can dislike the notion of using the same vendor for their applications and user security",
    "gold": "[Cause] entities can dislike the notion of using the same vendor for their applications and user security [Relation] cause [Effect] a vendor-agnostic solution for customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "It is provided as a vendor-agnostic solution for customers, as entities can dislike the notion of using the same vendor for their applications and user security due to vendor lock-in and not having straightforward access and security monitoring across other vendors' applications.",
    "output": "[Cause] entity lock-in and not having straightforward access and security monitoring across other vendors' applications [Relation] cause [Effect] entities can dislike the notion of using the same vendor for their applications and user security",
    "gold": "[Cause] vendor lock-in and not having straightforward access and security monitoring across other vendors' applications [Relation] cause [Effect] entities can dislike the notion of using the same vendor for their applications and user security",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If sufficient acreage isn't allocated to these hop strains in a sustainable way, supply constraints or input cost inflation could constrain both top- and bottom-line performance.",
    "output": "[Cause] supply constraints or input cost inflation [Relation] prevent [Effect] both top- and bottom-line performance",
    "gold": "[Cause] sufficient acreage isn't allocated to these hop strains in a sustainable way [Relation] enable [Effect] supply constraints or input cost inflation could constrain both top- and bottom-line performance",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As such, when branded CPG firms pick up their price-promotional activity, the marketplace necessarily becomes more difficult for retailers and their private-label manufacturing partners.",
    "output": "[Cause] branded CPG firms pick up their price-promotional activity [Relation] cause [Effect] the marketplace necessarily becomes more difficult for retailers and their private-label manufacturing partners",
    "gold": "[Cause]  branded CPG firms pick up their price-promotional activity [Relation] cause [Effect]  the marketplace necessarily becomes more difficult for retailers and their private-label manufacturing partners",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of the third-party broker arrangement, there is little opportunity for Empire State Realty to directly influence a leasing decision, and leasing terms tend to be specified to meet client needs and reflective of current market rates coordinated through the brokers.",
    "output": "[Cause] the third-party broker arrangement [Relation] cause [Effect] there is little opportunity for Empire State Realty to directly influence a leasing decision",
    "gold": "[Cause] the third-party broker arrangement [Relation] cause [Effect] there is little opportunity for Empire State Realty to directly influence a leasing decision",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In digital, there is a danger that the demand for more frequently updated or more tailored educational material could lead to higher ongoing development costs and a shorter shelf life, which could ultimately be margin-dilutive.",
    "output": "[Cause] the demand for more frequently updated or more tailored educational material [Relation] cause [Effect] higher ongoing development costs and a shorter shelf life",
    "gold": "[Cause]  higher ongoing development costs and a shorter shelf life [Relation] enable [Effect]  ultimately be margin-dilutive",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In contrast, Izzi passes 15 million homes with hybrid-fiber networks that use the DOCSIS 3.0 standard, capable of reliably delivering data speeds of at least 100 Mbps, with offerings at up to 200 Mbps.",
    "output": "[Cause] Izzi passes 15 million homes with hybrid-fiber networks that use the DOCSIS 3.0 standard [Relation] enable [Effect] reliably delivering data speeds of at least 100 Mbps, with offerings at up to 200 Mbps",
    "gold": "[Cause] Izzi passes 15 million homes with hybrid-fiber networks that use the DOCSIS 3.0 standard [Relation] enable [Effect] reliably delivering data speeds of at least 100 Mbps, with offerings at up to 200 Mbps",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With its concentration of production in Brazil, Petrobras mostly avoids geopolitical risk, but the government's historical involvement in capital-allocation and operational decisions has resulted in poor investments and losses.",
    "output": "[Cause] its concentration of production in Brazil [Relation] cause [Effect] Petrobras mostly avoids geopolitical risk",
    "gold": "[Cause] its concentration of production in Brazil [Relation] enable [Effect]  Petrobras mostly avoids geopolitical risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In terms of go-to-market, it is able to rely on warehouse distribution for big box retail channels, lowering costs while allowing its brand equity to drive consumer takeaway.",
    "output": "[Cause] go-to-market [Relation] enable [Effect] it is able to rely on warehouse distribution for big box retail channels",
    "gold": "[Cause] it is able to rely on warehouse distribution for big box retail channels [Relation] enable [Effect] lowering costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Thanks to pricing power provided by switching costs, the continual development of new products, we think Ecolab's operating margins will expand to over 20% over the next decade from around 13.5% in 2020.",
    "output": "[Cause] pricing power provided by switching costs, the continual development of new products [Relation] enable [Effect] Ecolab's operating margins will expand to over 20% over the next decade from around 13.5% in 2020",
    "gold": "[Cause] pricing power provided by switching costs, the continual development of new products [Relation] cause [Effect] Ecolab's operating margins will expand to over 20% over the next decade from around 13.5% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The acquisition of Mead Johnson and the disposal of the foods business has transformed RB's portfolio such that almost half of its EBIT will be generated from leading positions in categories conducive to pricing power.",
    "output": "[Cause] The acquisition of Mead Johnson and the disposal of the foods business [Relation] enable [Effect] transformed RB's portfolio",
    "gold": "[Cause] The acquisition of Mead Johnson and the disposal of the foods business [Relation] enable [Effect]  transformed RB's portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, like most chipmakers, its business remains highly cyclical as demand ebbs and flows in line with the health of its various end markets.",
    "output": "[Cause] demand ebbs and flows in line with the health of its various end markets [Relation] cause [Effect] its business remains highly cyclical",
    "gold": "[Cause] demand ebbs and flows in line with the health of its various end markets [Relation] cause [Effect]  its business remains highly cyclical",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This helped drive increased customer traffic (the demand side of the network effect equation), which in turn drove hotel inventory to the website (the supply side of the network effect equation).",
    "output": "[Cause] increased customer traffic [Relation] enable [Effect] hotel inventory to the website",
    "gold": "[Cause] increased customer traffic [Relation] enable [Effect] hotel inventory to the website",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "First, and most important in our view, is the cachet of Keurig Dr Pepper's brands, which should help ensure sufficient and sustained end-demand for the company's beverages such that neither Pepsi nor Coke need to worry about inventory builds or sell-through.",
    "output": "[Cause] the cachet of Keurig Dr Pepper's brands [Relation] enable [Effect] ensure sufficient and sustained end-demand for the company's beverages such that neither Pepsi nor Coke need to worry about inventory builds or sell-through",
    "gold": "[Cause] the cachet of Keurig Dr Pepper's brands [Relation] enable [Effect]  ensure sufficient and sustained end-demand for the company's beverages such that neither Pepsi nor Coke need to worry about inventory builds or sell-through",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We've also decreased our expectation for research and development spending as a percentage of sales because of growing firm scale.",
    "output": "[Cause] growing firm scale [Relation] cause [Effect] decreased our expectation for research and development spending as a percentage of sales",
    "gold": "[Cause]  a percentage of sales because of growing firm scale [Relation] enable [Effect] We've also decreased our expectation for research and development spending",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While rising competition from high-speed rail poses a threat to Guangshen's profitability and competitive strength, we think the company will benefit from ongoing railway sector reform, which should offset some of that negative impact.",
    "output": "[Cause] rising competition from high-speed rail [Relation] prevent [Effect] Guangshen's profitability and competitive strength",
    "gold": "[Cause] the company will benefit from ongoing railway sector reform [Relation] cause [Effect] offset some of that negative impact",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast total room growth to average 2.7% on average over the next 10 years, driven by continued optimism around La Quinta's long-term growth opportunity.",
    "output": "[Cause] continued optimism around La Quinta's long-term growth opportunity [Relation] cause [Effect] total room growth to average 2.7% on average over the next 10 years",
    "gold": "[Cause] continued optimism around La Quinta's long-term growth opportunity [Relation] enable [Effect]  total room growth to average 2.7% on average over the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that Dell Technologies' debt burden may affect its ability to invest in the development and sales of future innovative products.",
    "output": "[Cause] Dell Technologies' debt burden [Relation] prevent [Effect] its ability to invest in the development and sales of future innovative products",
    "gold": "[Cause] Dell Technologies' debt burden [Relation] prevent [Effect] its ability to invest in the development and sales of future innovative products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, loans to a primary banked client tend to be of a higher credit quality, as Santander has direct insight into the client's financial health.",
    "output": "[Cause] Santander has direct insight into the client's financial health [Relation] cause [Effect] loans to a primary banked client tend to be of a higher credit quality",
    "gold": "[Cause] Santander has direct insight into the client's financial health [Relation] enable [Effect]  loans to a primary banked client tend to be of a higher credit quality",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Formula One Group can be described as a combination of the trademark holder and the business development and promotion arms of the Formula One World Championship. As a result, the firm's business model is very capital-light with only $15 million in capital expenditures in 2018 and $90 million in net PP&amp;E at the end of 2018 versus annual revenue of $1.8 billion.",
    "output": "[Cause] Formula One Group can be described as a combination of the trademark holder and the business development and promotion arms of the Formula One World Championship [Relation] cause [Effect] the firm's business model is very capital-light with only $15 million in capital expenditures in 2018 and $90 million in net PP&amp;E at the end of 2018 versus annual revenue of $1.8 billion",
    "gold": "[Cause] Formula One Group can be described as a combination of the trademark holder and the business development and promotion arms of the Formula One World Championship [Relation] cause [Effect]  the firm's business model is very capital-light with only $15 million in capital expenditures in 2018 and $90 million in net PP&amp;E at the end of 2018 versus annual revenue of $1.8 billion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm generally trades at high multiples relative to peers, which is exacerbated by the fact it is expected to grow only near the median of the software group over the next few years.",
    "output": "[Cause] the fact it is expected to grow only near the median of the software group over the next few years [Relation] cause [Effect] The firm generally trades at high multiples relative to peers",
    "gold": "[Cause] The firm generally trades at high multiples relative to peers [Relation] enable [Effect] it is expected to grow only near the median of the software group over the next few years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "New pipelines are typically constructed to allow shippers or producers to take advantage of large price differentials (basis differentials) between two market hubs because supply and demand is out of 7 Jul 2021 05:00, UTCbalance in both markets.",
    "output": "[Cause] supply and demand is out of 7 Jul 2021 05:00, UTCbalance in both markets [Relation] cause [Effect] New pipelines are typically constructed to allow shippers or producers to take advantage of large price differentials (basis differentials) between two market hubs",
    "gold": "[Cause] supply and demand is out of 7 Jul 2021 05:00, UTCbalance in both markets [Relation] cause [Effect] New pipelines are typically constructed to allow shippers or producers to take advantage of large price differentials (basis differentials) between two market hubs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Between 2016 and 2020, NRG's restructuring cut its generation fleet in half, brought in nearly $3 billion of cash, and eliminated $10 billion of debt.",
    "output": "[Cause] NRG's restructuring cut its generation fleet in half [Relation] enable [Effect] nearly $3 billion of cash, and eliminated $10 billion of debt",
    "gold": "[Cause] NRG's restructuring cut its generation fleet in half [Relation] cause [Effect] nearly $3 billion of cash, and eliminated $10 billion of debt",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the firm was viewed as a strategic partner, we don't think it would encounter so much difficulty in securing additional shelf space.",
    "output": "[Cause] the firm was viewed as a strategic partner [Relation] prevent [Effect] encounter so much difficulty in securing additional shelf space",
    "gold": "[Cause] the firm was viewed as a strategic partner [Relation] prevent [Effect] encounter so much difficulty in securing additional shelf space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Implementation of a new vendor would likely require parallel testing given the mission critical nature of Nice's product, leading to high monetary costs as well.",
    "output": "[Cause] the mission critical nature of Nice's product [Relation] cause [Effect] Implementation of a new vendor would likely require parallel testing",
    "gold": "[Cause] the mission critical nature of Nice's product [Relation] cause [Effect] Implementation of a new vendor would likely require parallel testing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project operating margins to stabilize, given that many costs related to Extra Space's acquisitions, such as property taxes, are linear and will increase at a similar rate as revenue generated from these facilities.",
    "output": "[Cause] many costs related to Extra Space's acquisitions, such as property taxes, are linear and will increase at a similar rate as revenue generated from these facilities [Relation] cause [Effect] operating margins to stabilize",
    "gold": "[Cause] given that many costs related to Extra Space's acquisitions [Relation] cause [Effect] operating margins to stabilize | increase at a similar rate as revenue generated from these facilities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, management notes that new competition could even benefit existing operators, as only having two properties currently in the market may reduce the desire for repeat visits.",
    "output": "[Cause] only having two properties currently in the market may reduce the desire for repeat visits [Relation] cause [Effect] new competition could even benefit existing operators",
    "gold": "[Cause] only having two properties currently in the market may reduce the desire for repeat visits [Relation] cause [Effect] new competition could even benefit existing operators",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe demand for multimodal solutions is rising, driven in part by improving service levels from the rails and shippers' focus on supply-chain efficiency.",
    "output": "[Cause] improving service levels from the rails and shippers' focus on supply-chain efficiency [Relation] cause [Effect] demand for multimodal solutions is rising",
    "gold": "[Cause] improving service levels from the rails and shippers' focus on supply-chain efficiency [Relation] enable [Effect] demand for multimodal solutions is rising",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The integrated network delivers wider margins and returns than peers, thanks to a low-cost position derived from economies of scale and the ability to process a variety of feedstocks into the highest-value products.",
    "output": "[Cause] a low-cost position derived from economies of scale and the ability to process a variety of feedstocks into the highest-value products [Relation] cause [Effect] The integrated network delivers wider margins and returns than peers",
    "gold": "[Cause] a low-cost position derived from economies of scale and the ability to process a variety of feedstocks into the highest-value products [Relation] cause [Effect] The integrated network delivers wider margins and returns than peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This should keep O'Reilly's relative positioning strong among the national retailers as the industry consolidates, with large-scale participants like O'Reilly increasingly favored due to their ability to provide hard-to-find parts to commercial (and, to a lesser extent, DIY) customers more quickly, reliably, and efficiently.",
    "output": "[Cause] the industry consolidates [Relation] cause [Effect] This should keep O'Reilly's relative positioning strong among the national retailers",
    "gold": "[Cause] the industry consolidates [Relation] enable [Effect] This should keep O'Reilly's relative positioning strong among the national retailers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do consider fractionators to be higher-quality assets than natural gas and processing assets because of the more concentrated nature of the market.",
    "output": "[Cause] the more concentrated nature of the market [Relation] cause [Effect] fractionators to be higher-quality assets than natural gas and processing assets",
    "gold": "[Cause] the more concentrated nature of the market [Relation] cause [Effect] fractionators to be higher-quality assets than natural gas and processing assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, the customer may risk production delays from testing a new system, or face the potential for disruption during production.",
    "output": "[Cause] testing a new system [Relation] cause [Effect] the potential for disruption during production",
    "gold": "[Cause]  testing a new system [Relation] cause [Effect]  the potential for disruption during production",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect healthy recovery in 2021, with revenue rising 8%-9% on solid intermodal growth (aided by robust retailer restocking), new automotive business, and industrial sector improvement.",
    "output": "[Cause] solid intermodal growth (aided by robust retailer restocking), new automotive business, and industrial sector improvement [Relation] enable [Effect] revenue rising 8%-9%",
    "gold": "[Cause] revenue rising 8%-9% on solid intermodal growth (aided by robust retailer restocking), new automotive business, and industrial sector improvement [Relation] cause [Effect] healthy recovery",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, a decrease of utilization of drugs either driven by slower new drug introductions, fewer alternative generic options or formulary constraints by the PBMs would adversely affect management's ability to leverage the significant fixed costs of maintaining stores with high rent and staffing them with pharmacists.",
    "output": "[Cause] a decrease of utilization of drugs either driven by slower new drug introductions, fewer alternative generic options or formulary constraints by the PBMs [Relation] prevent [Effect] management's ability to leverage the significant fixed costs of maintaining stores with high rent and staffing them with pharmacists",
    "gold": "[Cause] a decrease of utilization of drugs [Relation] cause [Effect] adversely affect management's ability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "BCD combines analog, digital, and memory components into a single integrated chip; the combination of these three components creates a final product with higher power density and configurability than a combination of three point solutions.",
    "output": "[Cause] BCD combines analog, digital, and memory components into a single integrated chip [Relation] cause [Effect] the combination of these three components creates a final product with higher power density and configurability than a combination of three point solutions",
    "gold": "[Cause] these three components creates a final product [Relation] cause [Effect] higher power density and configurability than a combination of three point solutions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the face of this competition in Mississippi, as well as new openings set to occur in the neighboring state of Arkansas, Caesars closed its Tunica Resort in 2019.",
    "output": "[Cause] In the face of this competition in Mississippi, as well as new openings set to occur in the neighboring state of Arkansas [Relation] cause [Effect] Caesars closed its Tunica Resort in 2019",
    "gold": "[Cause] In the face of this competition in Mississippi, as well as new openings set to occur in the neighboring state of Arkansas [Relation] cause [Effect] Caesars closed its Tunica Resort in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, the rapid adoption of Photoshop within the creative professions more broadly (advertising, graphics, web design, content creation, and so on) allowed Adobe to fill in adjacent needs with new products, further entrenching itself within the creative world.",
    "output": "[Cause] the rapid adoption of Photoshop within the creative professions more broadly (advertising, graphics, web design, content creation, and so on) [Relation] enable [Effect] Adobe to fill in adjacent needs with new products, further entrenching itself within the creative world",
    "gold": "[Cause] the rapid adoption of Photoshop within the creative professions more broadly (advertising, graphics, web design, content creation, and so on) [Relation] enable [Effect] Adobe to fill in adjacent needs with new products, further entrenching itself within the creative world",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, Japanese megabanks' expansion of overseas lending in the current decade, which has made them the largest cross-border lenders in the world, leaves them exposed to credit losses in the current global recession.",
    "output": "[Cause] Japanese megabanks' expansion of overseas lending in the current decade [Relation] cause [Effect] left them exposed to credit losses in the current global recession",
    "gold": "[Cause] global recession. [Relation] cause [Effect]  leaves them exposed to credit losses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Pricing increases haven't been this strong in almost 20 years. This should boost growth a bit in the near term and has helped offset any negative impacts the coronavirus has had on the more discretionary areas of the business.",
    "output": "[Cause] Pricing increases haven't been this strong in almost 20 years [Relation] enable [Effect] boost growth a bit in the near term and has helped offset any negative impacts the coronavirus has had on the more discretionary areas of the business",
    "gold": "[Cause] Pricing increases haven't been this strong in almost 20 years [Relation] enable [Effect] boost growth a bit in the near term and has helped offset any negative impacts the coronavirus has had on the more discretionary areas of the business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over this same period, Activision (the predecessor company) has transitioned from a console-based video game publisher to the one of the largest publishers on both consoles and the PC via the 2008 merger with Blizzard (then owned by Vivendi).",
    "output": "[Cause] the 2008 merger with Blizzard (then owned by Vivendi) [Relation] enable [Effect] Activision (the predecessor company) has transitioned from a console-based video game publisher to the one of the largest publishers on both consoles and the PC",
    "gold": "[Cause] the 2008 merger with Blizzard (then owned by Vivendi) [Relation] enable [Effect]  Activision (the predecessor company) has transitioned from a console-based video game publisher to the one of the largest publishers on both consoles and the PC",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Dollar General faces competition from a range of retailers, with digital sellers' increasing reach into less densely populated areas adding pressure to what had been a more protected store network.",
    "output": "[Cause] digital sellers' increasing reach into less densely populated areas adding pressure to what had been a more protected store network [Relation] cause [Effect] Dollar General faces competition from a range of retailers",
    "gold": "[Cause] digital sellers' increasing reach into less densely populated areas adding pressure to what had been a more protected store network [Relation] cause [Effect] Dollar General faces competition from a range of retailers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With vacancy rates hovering around historic lows in the United States and Europe and average market rent rebounding significantly since 2012, we believe Prologis is in the best position to benefit from incremental demand.",
    "output": "[Cause] vacancy rates hovering around historic lows in the United States and Europe and average market rent rebounding significantly since 2012 [Relation] cause [Effect] Prologis is in the best position to benefit from incremental demand",
    "gold": "[Cause] vacancy rates hovering around historic lows in the United States and Europe and average market rent rebounding significantly since 2012 [Relation] enable [Effect] Prologis is in the best position to benefit from incremental demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the market tending to reward organic growth and above-average profitability in the asset managers, Invesco has a steeper hill to climb than some of its peers.",
    "output": "[Cause] the market tending to reward organic growth and above-average profitability in the asset managers [Relation] cause [Effect] Invesco has a steeper hill to climb than some of its peers",
    "gold": "[Cause]  the market tending to reward organic growth and above-average profitability in the asset managers [Relation] cause [Effect] Invesco has a steeper hill to climb than some of its peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Assembling systems is relatively easy work for any general contractor, one reason First Solar decided to exit the system construction and U.S.",
    "output": "[Cause] Assembling systems is relatively easy work for any general contractor [Relation] cause [Effect] one reason First Solar decided to exit the system construction and U.S",
    "gold": "[Cause] Assembling systems is relatively easy work for any general contractor [Relation] cause [Effect]  First Solar decided to exit the system construction and U.S.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect there could be a disproportionate impact on the bottom line if the company can't reinvigorate its WoW user base.",
    "output": "[Cause] the company can't reinvigorate its WoW user base [Relation] cause [Effect] a disproportionate impact on the bottom line",
    "gold": "[Cause] the company can't reinvigorate its WoW user base [Relation] enable [Effect]  a disproportionate impact on the bottom line",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that these sectors have experienced periods of tumult in the past, we think a lack of diversification in sector employment could cause volatility in the company's returns.",
    "output": "[Cause] these sectors have experienced periods of tumult in the past [Relation] cause [Effect] a lack of diversification in sector employment could cause volatility in the company's returns",
    "gold": "[Cause] a lack of diversification in sector employment [Relation] cause [Effect] volatility in the company's returns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given that these sectors have experienced periods of tumult in the past, we think a lack of diversification in sector employment could cause volatility in the company's returns.",
    "output": "[Cause] a lack of diversification in sector employment [Relation] cause [Effect] volatility in the company's returns",
    "gold": "[Cause] these sectors have experienced periods of tumult in the past [Relation] enable [Effect] we think",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company enjoys a strong competitive position across a variety of niche markets with high barriers to entry, and we believe that Idex is well positioned to continue outearning its cost of capital throughout the next decade.",
    "output": "[Cause] The company enjoys a strong competitive position across a variety of niche markets with high barriers to entry [Relation] cause [Effect] Idex is well positioned to continue outearning its cost of capital throughout the next decade",
    "gold": "[Cause] The company enjoys a strong competitive position across a variety of niche markets with high barriers to entry [Relation] cause [Effect]  Idex is well positioned to continue outearning its cost of capital throughout the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With 80% of the firm's annual revenue coming from management fees earned on its AUMs, dramatic market movements or significant changes in fund flows (which can be difficult to forecast with accuracy) can have a meaningful impact on revenue, profitability, and cash flows.",
    "output": "[Cause] dramatic market movements or significant changes in fund flows [Relation] enable [Effect] have a meaningful impact on revenue, profitability, and cash flows",
    "gold": "[Cause] dramatic market movements or significant changes in fund flows [Relation] enable [Effect] have a meaningful impact on revenue, profitability, and cash flows",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do not think Telenor's position is strong in Myanmar and Thailand; the firm has been losing subscribers in the past few years, and its customer bases tend to be less loyal.",
    "output": "[Cause] the firm has been losing subscribers in the past few years [Relation] cause [Effect] its customer bases tend to be less loyal",
    "gold": "[Cause] the firm has been losing subscribers in the past few years, and its customer bases tend to be less loyal [Relation] cause [Effect] We do not think Telenor's position is strong in Myanmar and Thailand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This percentage is significantly higher than many dealers and helps mitigate the cyclical nature of auto sales; these brands have more-affluent customers who will not limit their discretionary spending as much as lower-income car buyers during a downturn.",
    "output": "[Cause] This percentage is significantly higher than many dealers and helps mitigate the cyclical nature of auto sales [Relation] cause [Effect] these brands have more-affluent customers who will not limit their discretionary spending as much as lower-income car buyers during a downturn",
    "gold": "[Cause] these brands have more-affluent customers who will not limit their discretionary spending as much as lower-income car buyers during a downturn [Relation] cause [Effect] This percentage is significantly higher than many dealers and helps mitigate the cyclical nature of auto sales",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "California's regulatory environment has remained constructive for Sempra, as its emphasis on distribution-related safety and reliability infrastructure upgrades aligns well with the state's regulatory agenda.",
    "output": "[Cause] its emphasis on distribution-related safety and reliability infrastructure upgrades aligns well with the state's regulatory agenda [Relation] cause [Effect] California's regulatory environment has remained constructive for Sempra",
    "gold": "[Cause] its emphasis on distribution-related safety and reliability infrastructure upgrades aligns well with the state's regulatory agenda [Relation] enable [Effect] California's regulatory environment has remained constructive for Sempra",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To reduce costs, some of the underlying safety components of a particular vehicle sold in the United States may be the same as another vehicle that might be sold in Europe, South America, or Asia.",
    "output": "[Cause] reduce costs [Relation] cause [Effect] some of the underlying safety components of a particular vehicle sold in the United States may be the same as another vehicle that might be sold in Europe, South America, or Asia",
    "gold": "[Cause] reduce costs [Relation] enable [Effect] some of the underlying safety components of a particular vehicle sold in the United States may be the same as another vehicle that might be sold in Europe, South America, or Asia",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Conversely, if it seeks to conserve profits, it could be subject to deteriorating volumes if consumers balk at higher prices.",
    "output": "[Cause] consumers balk at higher prices [Relation] cause [Effect] it could be subject to deteriorating volumes",
    "gold": "[Cause]  it seeks to conserve profits [Relation] cause [Effect]  be subject to deteriorating volumes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think Eylea could see worldwide peak sales of $9 billion should it continue growing in international markets, despite slower U.S.",
    "output": "[Cause] it continue growing in international markets [Relation] enable [Effect] Eylea could see worldwide peak sales of $9 billion",
    "gold": "[Cause] it continue growing in international markets [Relation] enable [Effect]  Eylea could see worldwide peak sales of $9 billion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Adding service providers to the mix aligns incentives even further, especially since the firm's outpatient care assets offer significantly lower costs than hospital-based services.",
    "output": "[Cause] the firm's outpatient care assets offer significantly lower costs than hospital-based services [Relation] cause [Effect] Adding service providers to the mix aligns incentives even further",
    "gold": "[Cause] the firm's outpatient care assets offer significantly lower costs than hospital-based services [Relation] cause [Effect] Adding service providers to the mix aligns incentives even further",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Examples of firms in one part of that process, such as architecture, using competing software for the same use due to the ease of this interoperability and varying preferences among the architects (in this case) are not easily found. For this reason, combined with the steep learning curve required to master Autodesk software, we do not consider interoperability to negate its switching costs.",
    "output": "[Cause] Examples of firms in one part of that process, such as architecture, using competing software for the same use due to the ease of this interoperability and varying preferences among the architects (in this case) are not easily found [Relation] cause [Effect] combined with the steep learning curve required to master Autodesk software, we do not consider interoperability to negate its switching costs",
    "gold": "[Cause] Examples of firms in one part of that process, such as architecture, using competing software for the same use due to the ease of this interoperability and varying preferences among the architects (in this case) are not easily found [Relation] cause [Effect] combined with the steep learning curve required to master Autodesk software, we do not consider interoperability to negate its switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Greater consumer acceptance of private label, whether due to an economic downturn or consumer preferences, could threaten Clorox's margins and/or sales growth.",
    "output": "[Cause] Greater consumer acceptance of private label, whether due to an economic downturn or consumer preferences [Relation] cause [Effect] threaten Clorox's margins and/or sales growth",
    "gold": "[Cause] Greater consumer acceptance of private label, whether due to an economic downturn or consumer preferences [Relation] prevent [Effect] threaten Clorox's margins and/or sales growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After fourth-quarter earnings, we're raising our fair value estimate for Textron to $39 per share from $38 due to an improved near-term outlook on private jet sales and faster margin recovery.",
    "output": "[Cause] an improved near-term outlook on private jet sales and faster margin recovery [Relation] cause [Effect] we're raising our fair value estimate for Textron to $39 per share from $38",
    "gold": "[Cause]  an improved near-term outlook on private jet sales and faster margin recovery [Relation] cause [Effect] we're raising our fair value estimate for Textron to $39 per share from $38",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our medium-term revenue growth rate assumptions are toward the upper end of management's guided 4%-6% range. This is driven to a large degree by our belief that the strong organic growth we have witnessed in North America (7.7% average over the past five years) will persist.",
    "output": "[Cause] Our medium-term revenue growth rate assumptions are toward the upper end of management's guided 4%-6% range [Relation] cause [Effect] a large degree by our belief that the strong organic growth we have witnessed in North America (7.7% average over the past five years) will persist",
    "gold": "[Cause] Our medium-term revenue growth rate assumptions are toward the upper end of management's guided 4%-6% range [Relation] cause [Effect] a large degree by our belief that the strong organic growth we have witnessed in North America (7.7% average over the past five years) will persist",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also see modest SG&A leverage as the firm's portfolio expands, though it accounts for less than 100 basis points of our estimated EBITDA improvement.",
    "output": "[Cause] the firm's portfolio expands [Relation] cause [Effect] modest SG&A leverage",
    "gold": "[Cause] the firm's portfolio expands [Relation] cause [Effect]  modest SG&A leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Danaher also offers services for some tools in this segment under long-term contracts, which creates another recurring revenue stream after the equipment is placed.",
    "output": "[Cause] Danaher also offers services for some tools in this segment under long-term contracts [Relation] enable [Effect] creates another recurring revenue stream after the equipment is placed",
    "gold": "[Cause]  long-term contracts [Relation] cause [Effect] Danaher also offers services for some tools in this segment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe that Santander could boost its profitability, release capital, and rerate its valuation by trimming its portfolio to operate only in areas where it has a clear competitive advantage.",
    "output": "[Cause] trimming its portfolio to operate only in areas where it has a clear competitive advantage [Relation] enable [Effect] Santander could boost its profitability, release capital, and rerate its valuation",
    "gold": "[Cause]  trimming its portfolio to operate only in areas where it has a clear competitive advantage [Relation] enable [Effect] Santander could boost its profitability, release capital, and rerate its valuation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "First, beyond the five-year time frame, intense competition in liquid biopsy reduces our confidence in a sustainable competitive advantage, and pan-cancer screening could see improved test specificity over time, eventually taking share from single-cancer screening like Guardant's Lunar-2 test.",
    "output": "[Cause] intense competition in liquid biopsy [Relation] prevent [Effect] our confidence in a sustainable competitive advantage",
    "gold": "[Cause] intense competition in liquid biopsy [Relation] prevent [Effect]  our confidence in a sustainable competitive advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the medium term, we expect that production rate increases will outpace new customer orders, which will slowly reduce Airbus's massive narrow-body backlog.",
    "output": "[Cause] production rate increases will outpace new customer orders [Relation] cause [Effect] slowly reduce Airbus's massive narrow-body backlog",
    "gold": "[Cause] production rate increases will outpace new customer orders [Relation] enable [Effect] slowly reduce Airbus's massive narrow-body backlog",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As national customer accounts gain prominence, Grainger could face gross margin pressure, but these accounts also provide an opportunity for the company to gain market share and increase volume, which can drive better operating leverage and improved operating margins.",
    "output": "[Cause] national customer accounts gain prominence [Relation] cause [Effect] Grainger could face gross margin pressure",
    "gold": "[Cause] national customer accounts gain prominence [Relation] cause [Effect] Grainger could face gross margin pressure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also look for intermodal container repositioning costs to ease and box turns to improve this year as Class I rail service and terminal throughput re-calibrates to strong demand levels.",
    "output": "[Cause] Class I rail service and terminal throughput re-calibrates to strong demand levels [Relation] cause [Effect] intermodal container repositioning costs to ease and box turns to improve this year",
    "gold": "[Cause] Class I rail service and terminal throughput re-calibrates to strong demand levels [Relation] cause [Effect] intermodal container repositioning costs to ease and box turns to improve this year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "La Quinta ranks as a top-three midscale brand based on third-party guest satisfaction surveys and garners high contract renewal retention rates, which should lure third-party owners to join Wyndham. As a result, we think La Quinta can reach 2,000 hotels long term from 937 at the end of 2020.",
    "output": "[Cause] La Quinta ranks as a top-three midscale brand based on third-party guest satisfaction surveys and garners high contract renewal retention rates, which should lure third-party owners to join Wyndham [Relation] cause [Effect] La Quinta can reach 2,000 hotels long term from 937 at the end of 2020",
    "gold": "[Cause] La Quinta ranks as a top-three midscale brand based on third-party guest satisfaction surveys and garners high contract renewal retention rates, which should lure third-party owners to join Wyndham [Relation] cause [Effect]  La Quinta can reach 2,000 hotels long term from 937 at the end of 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Here, we think Jack Henry's relative smaller size is a bit of negative, as payment processing of any type tends to be highly scalable.",
    "output": "[Cause] payment processing of any type tends to be highly scalable [Relation] cause [Effect] Jack Henry's relative smaller size is a bit of negative",
    "gold": "[Cause] payment processing of any type tends to be highly scalable [Relation] enable [Effect] Jack Henry's relative smaller size is a bit of negative",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect the company to cut costs as it integrates Symphony and grows, resulting in a 2024 operating margin of 13%.",
    "output": "[Cause] it integrates Symphony and grows [Relation] cause [Effect] the company to cut costs",
    "gold": "[Cause]  the company to cut costs [Relation] cause [Effect]  it integrates Symphony and grows",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also expect the company to cut costs as it integrates Symphony and grows, resulting in a 2024 operating margin of 13%.",
    "output": "[Cause] the company to cut costs [Relation] cause [Effect] a 2024 operating margin of 13%",
    "gold": "[Cause]  it integrates Symphony and grows [Relation] cause [Effect] a 2024 operating margin of 13%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "One example of recent innovation in this area is Cantel's pass-through AER, which allows users to ''pass through'' endoscopy systems into a clean room through machines installed in the wall, making the overall process more efficient and user-friendly.",
    "output": "[Cause] Cantel's pass-through AER [Relation] enable [Effect] allows users to ''pass through'' endoscopy systems into a clean room through machines installed in the wall, making the overall process more efficient and user-friendly",
    "gold": "[Cause] allows users to ''pass through'' endoscopy systems into a clean room through machines installed in the wall [Relation] enable [Effect] the overall process more efficient and user-friendly",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "But this should not impact Choice's uncertainty rating unless travel demand again returns to near zero for an extended period of time, leading to potential needs for incremental liquidity, which perhaps could occur at value destructive levels.",
    "output": "[Cause] travel demand again returns to near zero for an extended period of time [Relation] cause [Effect] potential needs for incremental liquidity",
    "gold": "[Cause] travel demand again returns to near zero for an extended period of time [Relation] cause [Effect] potential needs for incremental liquidity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The acquisition of Kite (CAR-T therapy Yescarta) has brought only slow sales growth, but the 2020 acquisitions of Forty Seven (CD47 antibody magrolimab) and Immunomedics (breast cancer drug Trodelvy) add to the oncology pipeline.",
    "output": "[Cause] The acquisition of Kite (CAR-T therapy Yescarta) [Relation] cause [Effect] only slow sales growth",
    "gold": "[Cause] the 2020 acquisitions of Forty Seven (CD47 antibody magrolimab) and Immunomedics (breast cancer drug Trodelvy) [Relation] cause [Effect] add to the oncology pipeline",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also believe that Broadridge's corporate issuer clients view proxy fees as a \"\"\"\"cost of being public,\"\"\"\" as it is relatively immaterial to their bottom line.",
    "output": "[Cause] it is relatively immaterial to their bottom line [Relation] cause [Effect] Broadridge's corporate issuer clients view proxy fees as a \"\"\"\"cost of being public",
    "gold": "[Cause] it is relatively immaterial to their bottom line [Relation] cause [Effect]  Broadridge's corporate issuer clients view proxy fees as a \"\"\"\"cost of being public",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think believe Dentsply Sirona typically remains a step ahead of competitors, but workflow advances or new technology could shift customer loyalty.",
    "output": "[Cause] workflow advances or new technology [Relation] enable [Effect] shift customer loyalty",
    "gold": "[Cause] workflow advances or new technology could shift customer loyalty [Relation] cause [Effect] Dentsply Sirona typically remains a step ahead of competitors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As new models are introduced, Tesla's technological advantage and the strength of its brand will remain intact, which will allow the company to continue to charge a premium price for its EVs.",
    "output": "[Cause] Tesla's technological advantage and the strength of its brand will remain intact [Relation] enable [Effect] the company to continue to charge a premium price for its EVs",
    "gold": "[Cause] new models are introduced [Relation] cause [Effect] Tesla's technological advantage and the strength of its brand will remain intact",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Following a very steep patent cliff in 2014, Lilly's growth prospects are improving as the company is launching several new blockbusters and patent losses are fading.",
    "output": "[Cause] the company is launching several new blockbusters and patent losses are fading [Relation] cause [Effect] Following a very steep patent cliff in 2014, Lilly's growth prospects are improving",
    "gold": "[Cause] the company is launching several new blockbusters and patent losses are fading [Relation] cause [Effect] Following a very steep patent cliff in 2014, Lilly's growth prospects are improving",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although one-time branch-closing expenses could pressure margins in the near term, shrinking the branch network could improve ROICs over the long term (assuming branch sales are funneled through another channel and not lost).",
    "output": "[Cause] shrinking the branch network [Relation] enable [Effect] improve ROICs over the long term",
    "gold": "[Cause]  improve ROICs over the long term [Relation] enable [Effect] shrinking the branch network",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While implementation is risky, we think this is minimized as Lamb Weston is taking prudent steps to roll the system out in measured phases and to thoroughly test each module before taking it live.",
    "output": "[Cause] Lamb Weston is taking prudent steps to roll the system out in measured phases and to thoroughly test each module before taking it live [Relation] cause [Effect] While implementation is risky, we think this is minimized",
    "gold": "[Cause]  Lamb Weston is taking prudent steps to roll the system out in measured phases and to thoroughly test each module before taking it live [Relation] cause [Effect] While implementation is risky, we think this is minimized",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our base case assumes FMC will be able to successfully commercialize new products from its R&D pipeline as patents in the current portfolio expire.",
    "output": "[Cause] patents in the current portfolio expire [Relation] cause [Effect] FMC will be able to successfully commercialize new products from its R&D pipeline",
    "gold": "[Cause] patents in the current portfolio expire [Relation] enable [Effect]  FMC will be able to successfully commercialize new products from its R&D pipeline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There is a risk, however, that fewer seats on these subscriptions are sold if such OEMs decided to release fewer aircraft models than normal.",
    "output": "[Cause] such OEMs decided to release fewer aircraft models than normal [Relation] cause [Effect] fewer seats on these subscriptions are sold",
    "gold": "[Cause] such OEMs decided to release fewer aircraft models than normal [Relation] cause [Effect]  fewer seats on these subscriptions are sold",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And we also see clinical risks since a lower predictive value than expected could make regulatory approval and widespread payer coverage challenging.",
    "output": "[Cause] a lower predictive value than expected could make regulatory approval and widespread payer coverage challenging [Relation] cause [Effect] clinical risks",
    "gold": "[Cause] a lower predictive value [Relation] cause [Effect] make regulatory approval and widespread payer coverage challenging",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Overall, once an infusion pump is placed at a hospital, we believe that facility is unlikely to create a workflow disruption by switching to a new pump provider, and those devices are often considered in GPO contract negotiations for ongoing sales of administration sets and other therapeutic solutions.",
    "output": "[Cause] an infusion pump is placed at a hospital [Relation] cause [Effect] facility is unlikely to create a workflow disruption by switching to a new pump provider",
    "gold": "[Cause] an infusion pump is placed at a hospital [Relation] cause [Effect]  facility is unlikely to create a workflow disruption by switching to a new pump provider",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The gross margin benefit from prior land purchases is not sustainable, however, as the company must replace completed lots with higher-cost land to maintain its community count.",
    "output": "[Cause] the company must replace completed lots with higher-cost land to maintain its community count [Relation] cause [Effect] The gross margin benefit from prior land purchases is not sustainable",
    "gold": "[Cause] the company must replace completed lots with higher-cost land to maintain its community count [Relation] cause [Effect] The gross margin benefit from prior land purchases is not sustainable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Plains is also exposed to ongoing minimum volume commitments by shippers unable to meet their quotas and thus continue to compete aggressively for incremental barrels lowering margins and distorting flows.",
    "output": "[Cause] Plains is also exposed to ongoing minimum volume commitments by shippers unable to meet their quotas [Relation] cause [Effect] continue to compete aggressively for incremental barrels lowering margins and distorting flows",
    "gold": "[Cause] Plains is also exposed to ongoing minimum volume commitments by shippers unable to meet their quotas [Relation] cause [Effect] continue to compete aggressively for incremental barrels lowering margins and distorting flows",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Having been principally focused on institutional investors for much of its existence, BlackRock has had to be concerned not only with investment performance, but also with the risks taken to generate those results, as most of its institutional clients come to the table with required levels of performance and volatility in their investment mandates. As such, the company has developed tools to assess both security- and portfolio-level risks, which it not only uses internally but also offers to external clients for a fee.",
    "output": "[Cause] Having been principally focused on institutional investors for much of its existence, BlackRock has had to be concerned not only with investment performance, but also with the risks taken to generate those results, as most of its institutional clients come to the table with required levels of performance and volatility in their investment mandates [Relation] cause [Effect] the company has developed tools to assess both security- and portfolio-level risks, which it not only uses internally but also offers to external clients for a fee",
    "gold": "[Cause] Having been principally focused on institutional investors for much of its existence, BlackRock has had to be concerned not only with investment performance, but also with the risks taken to generate those results, as most of its institutional clients come to the table with required levels of performance and volatility in their investment mandates [Relation] cause [Effect] the company has developed tools to assess both security- and portfolio-level risks, which it not only uses internally but also offers to external clients for a fee",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a more efficient service, Lyft will likely attract even more riders and drivers to the network over time, in turn strengthening its network effect.",
    "output": "[Cause] a more efficient service [Relation] enable [Effect] attract even more riders and drivers to the network over time, in turn strengthening its network effect",
    "gold": "[Cause] strengthening its network effect [Relation] enable [Effect] attract even more riders and drivers to the network over time",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With each division more or less equally weighted in terms of revenue contribution, it would be difficult for a single product breakthrough in any division to move the needle on group-level growth.",
    "output": "[Cause] each division more or less equally weighted in terms of revenue contribution [Relation] cause [Effect] difficult for a single product breakthrough in any division to move the needle on group-level growth",
    "gold": "[Cause] each division more or less equally weighted in terms of revenue contribution [Relation] cause [Effect] difficult for a single product breakthrough in any division to move the needle on group-level growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast sharp downturns in sales, margins, and earnings in 2020 due to COVID-19, including sales drops for all three of its segments.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] sharp downturns in sales, margins, and earnings in 2020",
    "gold": "[Cause] due to COVID-19 [Relation] prevent [Effect] including sales drops for all three of its segments",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast 9% growth for the firm's optical communications segment, where 5G network and data center buildouts will elevate demand for fiber.",
    "output": "[Cause] 5G network and data center buildouts [Relation] enable [Effect] elevate demand for fiber",
    "gold": "[Cause]  5G network and data center buildouts will elevate demand for fiber [Relation] cause [Effect] 9% growth for the firm's optical communications segment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect that Live Nation's venues and concerts will remain one of the valuable platforms for reaching younger music fan as those fans continue to attend more live events.",
    "output": "[Cause] those fans continue to attend more live events [Relation] cause [Effect] Live Nation's venues and concerts will remain one of the valuable platforms for reaching younger music fan",
    "gold": "[Cause]  those fans continue to attend more live events [Relation] cause [Effect] Live Nation's venues and concerts will remain one of the valuable platforms for reaching younger music fan",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This provides Alibaba with an unparalleled source of data that it can use to help merchants and consumer brands develop personalized mobile marketing and content strategies to expand their target audiences, increase click-through rates and physical store transactions, and bolster return on investment.",
    "output": "[Cause] This provides Alibaba with an unparalleled source of data [Relation] enable [Effect] it can use to help merchants and consumer brands develop personalized mobile marketing and content strategies to expand their target audiences, increase click-through rates and physical store transactions, and bolster return on investment",
    "gold": "[Cause] This provides Alibaba with an unparalleled source of data [Relation] cause [Effect] it can use to help merchants and consumer brands develop personalized mobile marketing and content strategies to expand their target audiences, increase click-through rates and physical store transactions, and bolster return on investment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the company has not indicated an appetite for further acquisitions, we expect internal investments in mobile ordering, curbside delivery, takeaway windows, and multiple drive-thru lanes in select locations to help the firm increase throughput during key dayparts.",
    "output": "[Cause] internal investments in mobile ordering, curbside delivery, takeaway windows, and multiple drive-thru lanes in select locations [Relation] enable [Effect] help the firm increase throughput during key dayparts",
    "gold": "[Cause] internal investments in mobile ordering, curbside delivery, takeaway windows, and multiple drive-thru lanes in select locations [Relation] cause [Effect] help the firm increase throughput during key dayparts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "All of these factors help reduce the overall cost per treatment at the top-tier players relative to smaller-scale peers, which helps the top-tier players generate economic profits.",
    "output": "[Cause] All of these factors help reduce the overall cost per treatment at the top-tier players relative to smaller-scale peers [Relation] enable [Effect] the top-tier players generate economic profits",
    "gold": "[Cause] All of these factors [Relation] cause [Effect] reduce the overall cost per treatment at the top-tier players relative to smaller-scale peers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Along those lines, Amazon Web Services offers scale advantages to clients in that it is cheaper and faster to set up IT infrastructure in the cloud compared with undertaking the same effort independently.",
    "output": "[Cause] it is cheaper and faster to set up IT infrastructure in the cloud compared with undertaking the same effort independently [Relation] enable [Effect] Amazon Web Services offers scale advantages to clients",
    "gold": "[Cause]  it is cheaper and faster to set up IT infrastructure in the cloud compared with undertaking the same effort independently [Relation] enable [Effect] Amazon Web Services offers scale advantages to clients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The new hotel rooms by major operators in the next few years should accommodate increased and extended visits from bigger spenders from these provinces, and drive the top line for integrated resort operators like Galaxy Entertainment.",
    "output": "[Cause] The new hotel rooms by major operators in the next few years [Relation] enable [Effect] accommodate increased and extended visits from bigger spenders from these provinces, and drive the top line for integrated resort operators like Galaxy Entertainment",
    "gold": "[Cause] The new hotel rooms by major operators in the next few years [Relation] enable [Effect] accommodate increased and extended visits from bigger spenders from these provinces, and drive the top line for integrated resort operators like Galaxy Entertainment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While there is a high level of competition for top advisor talent, LPL has been willing to invest to remain competitive by improving its technology offerings and services.",
    "output": "[Cause] improving its technology offerings and services [Relation] enable [Effect] LPL has been willing to invest to remain competitive",
    "gold": "[Cause]  improving its technology offerings and services [Relation] enable [Effect] LPL has been willing to invest to remain competitive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While much of this is because close to two thirds of the products that are sold via Waddell &amp; Reed's advisors are held in retirement vehicles, some of it is also because of the firm's focus on underserved middle-income investors outside of major urban areas.",
    "output": "[Cause] close to two thirds of the products that are sold via Waddell &amp; Reed's advisors are held in retirement vehicles [Relation] cause [Effect] much of this",
    "gold": "[Cause] the firm's focus on underserved middle-income investors outside of major urban areas [Relation] cause [Effect] Reed's advisors are held in retirement vehicles",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While much of this is because close to two thirds of the products that are sold via Waddell &amp; Reed's advisors are held in retirement vehicles, some of it is also because of the firm's focus on underserved middle-income investors outside of major urban areas.",
    "output": "[Cause] the firm's focus on underserved middle-income investors outside of major urban areas [Relation] cause [Effect] some of it",
    "gold": "[Cause]  close to two thirds of the products that are sold via Waddell &amp [Relation] cause [Effect] much of this",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Philips' imaging devices have experienced a 1% to 2% annual price deflation for many years, but we believe price pressures are partially eased by the critical nature of these machines, a high cost of failure and switching costs.",
    "output": "[Cause] the critical nature of these machines, a high cost of failure and switching costs [Relation] cause [Effect] price pressures are partially eased",
    "gold": "[Cause] the critical nature of these machines, a high cost of failure and switching costs [Relation] cause [Effect]  price pressures are partially eased",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "First, Motorola Solutions has cultivated relationships with government procurement personnel over the years, effectively navigating the labyrinthine bidding and board approval processes that occurs in city, country, and state contracts.",
    "output": "[Cause] Motorola Solutions has cultivated relationships with government procurement personnel over the years [Relation] enable [Effect] effectively navigating the labyrinthine bidding and board approval processes that occurs in city, country, and state contracts",
    "gold": "[Cause] Motorola Solutions has cultivated relationships with government procurement personnel over the years [Relation] cause [Effect] effectively navigating the labyrinthine bidding and board approval processes that occurs in city, country, and state contracts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Historically, Graco's organic growth rate has outpaced GDP growth thanks to its commitment to research and development, which has allowed the company to generate additional sales by developing new products, penetrating adjacent markets, and capturing market share from competitors.",
    "output": "[Cause] its commitment to research and development [Relation] enable [Effect] Graco's organic growth rate has outpaced GDP growth",
    "gold": "[Cause]  its commitment to research and development [Relation] cause [Effect] Graco's organic growth rate has outpaced GDP growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Historically, Graco's organic growth rate has outpaced GDP growth thanks to its commitment to research and development, which has allowed the company to generate additional sales by developing new products, penetrating adjacent markets, and capturing market share from competitors.",
    "output": "[Cause] its commitment to research and development [Relation] enable [Effect] Graco's organic growth rate has outpaced GDP growth",
    "gold": "[Cause] Graco's organic growth rate has outpaced GDP growth [Relation] enable [Effect] the company to generate additional sales by developing new products, penetrating adjacent markets, and capturing market share from competitors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Compared with the relatively low operating cost producer in BHP Billiton, Teck suffers substantially higher transport costs from railing coal more than 1000 kilometers to port.",
    "output": "[Cause] railing coal more than 1000 kilometers to port [Relation] cause [Effect] Teck suffers substantially higher transport costs",
    "gold": "[Cause]  railing coal more than 1000 kilometers to port [Relation] cause [Effect] Teck suffers substantially higher transport costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of JPMorgan's diversified revenue streams, which showed just how stable revenue can be even during the pandemic-driven downturn, we assign the bank a medium uncertainty rating.",
    "output": "[Cause] JPMorgan's diversified revenue streams [Relation] cause [Effect] showed just how stable revenue can be even during the pandemic-driven downturn",
    "gold": "[Cause] JPMorgan's diversified revenue streams [Relation] cause [Effect] showed just how stable revenue can be even during the pandemic-driven downturn",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of JPMorgan's diversified revenue streams, which showed just how stable revenue can be even during the pandemic-driven downturn, we assign the bank a medium uncertainty rating.",
    "output": "[Cause] JPMorgan's diversified revenue streams [Relation] cause [Effect] the bank a medium uncertainty rating",
    "gold": "[Cause] showed just how stable revenue can be even during the pandemic-driven downturn [Relation] cause [Effect] we assign the bank a medium uncertainty rating",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Oil prices plunged in 2020, which presents the risk that several of their customers may be unable to take delivery of the helicopter.",
    "output": "[Cause] Oil prices plunged in 2020 [Relation] cause [Effect] several of their customers may be unable to take delivery of the helicopter",
    "gold": "[Cause] Oil prices plunged in 2020 [Relation] cause [Effect] several of their customers may be unable to take delivery of the helicopter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Wesco's supply chain services and technical expertise add value for customers by simplifying the product procurement process, lowering working capital needs, and driving both cost and risk out of customer supply chains.",
    "output": "[Cause] simplifying the product procurement process, lowering working capital needs, and driving both cost and risk out of customer supply chains [Relation] enable [Effect] Wesco's supply chain services and technical expertise add value for customers",
    "gold": "[Cause] simplifying the product procurement process, lowering working capital needs, and driving both cost and risk out of customer supply chains [Relation] enable [Effect] Wesco's supply chain services and technical expertise add value for customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think it is important to consider goodwill when measuring Conagra's ROIC, as its acquisitions have played a key role in its strategy.",
    "output": "[Cause] its acquisitions have played a key role in its strategy [Relation] cause [Effect] it is important to consider goodwill when measuring Conagra's ROIC",
    "gold": "[Cause] its acquisitions have played a key role in its strategy [Relation] cause [Effect] it is important to consider goodwill when measuring Conagra's ROIC",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Capital spending as a percentage of sales has been 10% or less each of the last five years and is generally declining, as equipment pricing is often deflationary.",
    "output": "[Cause] equipment pricing is often deflationary [Relation] cause [Effect] Capital spending as a percentage of sales has been 10% or less each of the last five years and is generally declining",
    "gold": "[Cause] equipment pricing is often deflationary [Relation] cause [Effect] Capital spending as a percentage of sales has been 10% or less each of the last five years and is generally declining",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Biogen's MS portfolio has enjoyed tremendous pricing power in the United States, and insurers could begin to find ways to put pressure on future price increases as more competitors reach the market.",
    "output": "[Cause] more competitors reach the market [Relation] cause [Effect] insurers could begin to find ways to put pressure on future price increases",
    "gold": "[Cause] more competitors reach the market [Relation] cause [Effect]  insurers could begin to find ways to put pressure on future price increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "More traditional 5G network builds, mirroring existing wireless network deployments using lower-frequency spectrum, could eventually provide the capacity needed to compete with fixed-line Internet access services.",
    "output": "[Cause] More traditional 5G network builds, mirroring existing wireless network deployments using lower-frequency spectrum [Relation] enable [Effect] provide the capacity needed to compete with fixed-line Internet access services",
    "gold": "[Cause] More traditional 5G network builds, mirroring existing wireless network deployments using lower-frequency spectrum [Relation] enable [Effect] provide the capacity needed to compete with fixed-line Internet access services",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The availability of alternative data sources decreases reliance on Alliance Data Systems' cards and increases the negotiating power of the retailers.",
    "output": "[Cause] The availability of alternative data sources [Relation] cause [Effect] decreases reliance on Alliance Data Systems' cards and increases the negotiating power of the retailers",
    "gold": "[Cause] The availability of alternative data sources [Relation] cause [Effect] decreases reliance on Alliance Data Systems' cards and increases the negotiating power of the retailers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we do not believe the pandemic will materially alter Costco's long-term trajectory, it increases near-term uncertainty as the crisis eases and consumers shift spending back toward pandemic-restricted categories (like restaurants and travel).",
    "output": "[Cause] the crisis eases and consumers shift spending back toward pandemic-restricted categories (like restaurants and travel) [Relation] cause [Effect] it increases near-term uncertainty",
    "gold": "[Cause] the crisis eases and consumers shift spending back toward pandemic-restricted categories (like restaurants and travel) [Relation] cause [Effect] it increases near-term uncertainty",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect uneven guest traffic over the foreseeable future and believe operators will need to adjust their in-store and digital selling procedures to satisfy the continued shift from physical to online purchases.",
    "output": "[Cause] uneven guest traffic over the foreseeable future [Relation] cause [Effect] operators will need to adjust their in-store and digital selling procedures",
    "gold": "[Cause]  the continued shift from physical to online purchases [Relation] enable [Effect] uneven guest traffic over the foreseeable future and believe operators will need to adjust their in-store and digital selling procedures",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect uneven guest traffic over the foreseeable future and believe operators will need to adjust their in-store and digital selling procedures to satisfy the continued shift from physical to online purchases.",
    "output": "[Cause] operators will need to adjust their in-store and digital selling procedures [Relation] enable [Effect] satisfy the continued shift from physical to online purchases",
    "gold": "[Cause] uneven guest traffic over the foreseeable future [Relation] enable [Effect] adjust their in-store and digital selling procedures",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Kyocera's revenue has been fairly flat for a few years until fiscal 2017, but as a result of aggressive mergers and acquisitions and robust demand for electronic components from autos and smartphones, its revenue increased 10.8% in fiscal 2018.",
    "output": "[Cause] aggressive mergers and acquisitions and robust demand for electronic components from autos and smartphones [Relation] cause [Effect] Kyocera's revenue has been fairly flat for a few years until fiscal 2017",
    "gold": "[Cause] aggressive mergers and acquisitions and robust demand for electronic components from autos and smartphones [Relation] cause [Effect] its revenue increased 10.8% in fiscal 2018",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For example, the tariffs for long-distance passenger trains have been stagnant for more than 25 years, despite China's consumer price index soaring almost 60% during the same period. This is because long-distance rail in China must serve the public interest, and most travelers are migrant workers with relatively low incomes.",
    "output": "[Cause] long-distance rail in China must serve the public interest, and most travelers are migrant workers with relatively low incomes [Relation] cause [Effect] the tariffs for long-distance passenger trains have been stagnant for more than 25 years, despite China's consumer price index soaring almost 60% during the same period",
    "gold": "[Cause]  long-distance rail in China must serve the public interest, and most travelers are migrant workers with relatively low incomes [Relation] cause [Effect] the tariffs for long-distance passenger trains have been stagnant for more than 25 years, despite China's consumer price index soaring almost 60% during the same period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the dividend is now secure at the current level due to the November 2016 Off-Coal Agreement that provides annual cash payments to TransAlta to compensate for the closing of three coal-fired power plants in Alberta.",
    "output": "[Cause] the November 2016 Off-Coal Agreement that provides annual cash payments to TransAlta to compensate for the closing of three coal-fired power plants in Alberta [Relation] cause [Effect] the dividend is now secure at the current level",
    "gold": "[Cause] the November 2016 Off-Coal Agreement that provides annual cash payments to TransAlta to compensate for the closing of three coal-fired power plants in Alberta [Relation] cause [Effect] the dividend is now secure at the current level",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From our understanding, moreover, ITW's welding tools are uniquely set up for ease of use, reducing training costs related to learning more complex pieces of equipment.",
    "output": "[Cause] ITW's welding tools are uniquely set up for ease of use [Relation] enable [Effect] reducing training costs related to learning more complex pieces of equipment",
    "gold": "[Cause]  ITW's welding tools are uniquely set up for ease of use [Relation] enable [Effect] reducing training costs related to learning more complex pieces of equipment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As top-line growth comes under some pressure in the near term, we think efforts to improve efficiency will prove difficult.",
    "output": "[Cause] top-line growth comes under some pressure in the near term [Relation] cause [Effect] efforts to improve efficiency will prove difficult",
    "gold": "[Cause]  top-line growth comes under some pressure in the near term [Relation] cause [Effect] efforts to improve efficiency will prove difficult",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given its reach, the company is able to repurpose its programming to provide localized versions, as over 50% of the content shown on the international networks is produced for the U.S.",
    "output": "[Cause] over 50% of the content shown on the international networks is produced for the U.S [Relation] cause [Effect] the company is able to repurpose its programming to provide localized versions",
    "gold": "[Cause] over 50% of the content shown on the international networks is produced for the U.S [Relation] cause [Effect] the company is able to repurpose its programming to provide localized versions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Marine shipping by barge is less costly than rail for certain bulk commodity shippers that are located near the inland waterways offering access to the desired destination.",
    "output": "[Cause] Marine shipping by barge is less costly than rail [Relation] enable [Effect] certain bulk commodity shippers that are located near the inland waterways offering access to the desired destination",
    "gold": "[Cause]  near the inland waterways offering access to the desired destination [Relation] cause [Effect] Marine shipping by barge is less costly than rail",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Despite new pricing structures in the chicken segment, contracts still don't directly pass on costs, resulting in some margin volatility.",
    "output": "[Cause] contracts still don't directly pass on costs [Relation] cause [Effect] some margin volatility",
    "gold": "[Cause]  contracts still don't directly pass on costs [Relation] cause [Effect] some margin volatility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With customer usage no longer a significant factor in financial performance and automatic rate adjustments for most O&M and changes in rate base, rolling three-year general rate-case decisions across the three utilities provide the greatest uncertainty.",
    "output": "[Cause] customer usage no longer a significant factor in financial performance and automatic rate adjustments for most O&M and changes in rate base [Relation] cause [Effect] rolling three-year general rate-case decisions across the three utilities provide the greatest uncertainty",
    "gold": "[Cause] customer usage no longer a significant factor in financial performance and automatic rate adjustments for most O&M and changes in rate base [Relation] cause [Effect] rolling three-year general rate-case decisions across the three utilities provide the greatest uncertainty",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Presumably, National Oilwell's manufacturing efficiency expertise, along with its unique insights into the drilling process gleaned from its traditional rig equipment business lines, could have allowed National Oilwell Varco to consistently differentiate its offerings from the integrated-services companies.",
    "output": "[Cause] National Oilwell's manufacturing efficiency expertise, along with its unique insights into the drilling process gleaned from its traditional rig equipment business lines [Relation] enable [Effect] National Oilwell Varco to consistently differentiate its offerings from the integrated-services companies",
    "gold": "[Cause] National Oilwell's manufacturing efficiency expertise, along with its unique insights into the drilling process gleaned from its traditional rig equipment business lines [Relation] enable [Effect] National Oilwell Varco to consistently differentiate its offerings from the integrated-services companies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For this segment, operating margins have remained above 30% over the past decade until the Chemogas acquisition caused a decrease in late 2019.",
    "output": "[Cause] the Chemogas acquisition [Relation] cause [Effect] a decrease in late 2019",
    "gold": "[Cause] the Chemogas acquisition [Relation] cause [Effect] a decrease in late 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "More recently, these structural challenges abroad have been compounded as chocolate is less ingrained in the culture, is a more premium-priced product relative to other food categories, combined with economic uncertainty and the outsize effect of trade shutdowns stemming from COVID-19.",
    "output": "[Cause] chocolate is less ingrained in the culture, is a more premium-priced product relative to other food categories, combined with economic uncertainty and the outsize effect of trade shutdowns stemming from COVID-19 [Relation] cause [Effect] these structural challenges abroad have been compounded",
    "gold": "[Cause] chocolate is less ingrained in the culture, is a more premium-priced product relative to other food categories, combined with economic uncertainty and the outsize effect of trade shutdowns stemming from COVID-19 [Relation] cause [Effect] these structural challenges abroad have been compounded",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Broadridge continues to gain scale and generate synergies from recent M&A, we expect investor communication solutions segment operating margins (net of distribution revenue) of about 29% in fiscal 2025.",
    "output": "[Cause] Broadridge continues to gain scale and generate synergies from recent M&A [Relation] cause [Effect] investor communication solutions segment operating margins (net of distribution revenue) of about 29% in fiscal 2025",
    "gold": "[Cause] Broadridge continues to gain scale and generate synergies from recent M&A [Relation] enable [Effect] investor communication solutions segment operating margins (net of distribution revenue) of about 29% in fiscal 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since late 2017, Tenet Healthcare has undergone a massive turnaround effort in the wake of an acquisition strategy that left it with operating inefficiencies and a debt-heavy balance sheet.",
    "output": "[Cause] an acquisition strategy [Relation] cause [Effect] Tenet Healthcare has undergone a massive turnaround effort",
    "gold": "[Cause] in the wake of an acquisition strategy [Relation] cause [Effect] it with operating inefficiencies and a debt-heavy balance sheet",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As small companies are prevented from competing for larger customers, they are unable to achieve sufficient scale to match the R&amp;D investment (and thus innovation capabilities) of the top flavors and fragrances players.",
    "output": "[Cause] small companies are prevented from competing for larger customers [Relation] cause [Effect] they are unable to achieve sufficient scale to match the R&amp;D investment (and thus innovation capabilities) of the top flavors and fragrances players",
    "gold": "[Cause] small companies are prevented from competing for larger customers [Relation] cause [Effect] they are unable to achieve sufficient scale to match the R&amp;D investment (and thus innovation capabilities) of the top flavors and fragrances players",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that Tractor Supply has reached critical mass in its consumer segment, which should facilitate consistent operating margin expansion helped by corporate development across arenas, including utilizing better customer attribution data, improved bargaining with vendors, and more sophisticated logistics.",
    "output": "[Cause] Tractor Supply has reached critical mass in its consumer segment [Relation] enable [Effect] facilitate consistent operating margin expansion",
    "gold": "[Cause] Tractor Supply has reached critical mass in its consumer segment [Relation] cause [Effect] corporate development across arenas, including utilizing better customer attribution data, improved bargaining with vendors, and more sophisticated logistics",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe that Tractor Supply has reached critical mass in its consumer segment, which should facilitate consistent operating margin expansion helped by corporate development across arenas, including utilizing better customer attribution data, improved bargaining with vendors, and more sophisticated logistics.",
    "output": "[Cause] corporate development across arenas, including utilizing better customer attribution data, improved bargaining with vendors, and more sophisticated logistics [Relation] enable [Effect] facilitate consistent operating margin expansion",
    "gold": "[Cause] corporate development across arenas, including utilizing better customer attribution data, improved bargaining with vendors, and more sophisticated logistics [Relation] cause [Effect] facilitate consistent operating margin expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In general, regulatory actions that affect patient access or reimbursement rates could significantly change the profitability of HCA's operations and will likely remain a key ESG risk for HCA in the long run.",
    "output": "[Cause] regulatory actions that affect patient access or reimbursement rates [Relation] cause [Effect] significantly change the profitability of HCA's operations and will likely remain a key ESG risk for HCA in the long run",
    "gold": "[Cause] regulatory actions that affect patient access or reimbursement rates [Relation] cause [Effect] the profitability of HCA's operations and will likely remain a key ESG risk for HCA in the long run.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Instead, Sensient aims to deliver margin expansion by gradually improving its product mix, moving toward comprehensive flavor systems and away from more commoditylike ingredients.",
    "output": "[Cause] gradually improving its product mix, moving toward comprehensive flavor systems and away from more commoditylike ingredients [Relation] enable [Effect] deliver margin expansion",
    "gold": "[Cause] gradually improving its product mix, moving toward comprehensive flavor systems and away from more commoditylike ingredients [Relation] enable [Effect] deliver margin expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the firm intends to realize $2 billion in efficiency savings through 2024, it appears to be doing so as a way to free up resources to reinvest in its product mix rather than inflate profits. As such, we think the firm's focus on fueling marketing spending and getting more mileage out of these investments is judicious, aided by its decision to narrow its stock-keeping unit count, which was down 20% in North America in 2020.",
    "output": "[Cause] While the firm intends to realize $2 billion in efficiency savings through 2024, it appears to be doing so as a way to free up resources to reinvest in its product mix rather than inflate profits [Relation] cause [Effect] the firm's focus on fueling marketing spending and getting more mileage out of these investments is judicious, aided by its decision to narrow its stock-keeping unit count, which was down 20% in North America in 2020",
    "gold": "[Cause] While the firm intends to realize $2 billion in efficiency savings through 2024, it appears to be doing so as a way to free up resources to reinvest in its product mix rather than inflate profits [Relation] cause [Effect]  the firm's focus on fueling marketing spending and getting more mileage out of these investments is judicious, aided by its decision to narrow its stock-keeping unit count, which was down 20% in North America in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company already boasts an operating margin higher than many of its similar-size peers (excluding non-CRO segments of its peers), and we see opportunity for operating margin improvement in the future due to cost-saving synergies from the PRA acquisition.",
    "output": "[Cause] cost-saving synergies from the PRA acquisition [Relation] cause [Effect] opportunity for operating margin improvement in the future",
    "gold": "[Cause] cost-saving synergies from the PRA acquisition [Relation] cause [Effect] opportunity for operating margin improvement in the future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A combination of significant acquisitions and disposals during the past five years has seen CRH transform into a leading manufacturer of building materials.",
    "output": "[Cause] A combination of significant acquisitions and disposals during the past five years [Relation] enable [Effect] CRH transform into a leading manufacturer of building materials",
    "gold": "[Cause] A combination of significant acquisitions and disposals during the past five years [Relation] cause [Effect] CRH transform into a leading manufacturer of building materials",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Competition is always a risk, as it is here with the rise of next-generation process automation from the likes of ServiceNow.",
    "output": "[Cause] it is here with the rise of next-generation process automation from the likes of ServiceNow [Relation] cause [Effect] Competition is always a risk",
    "gold": "[Cause] it is here with the rise of next-generation process automation from the likes of ServiceNow [Relation] cause [Effect] Competition is always a risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Monolithic's portfolio of highly engineered and differentiated technology may give it an edge in certain applications today, the scale of its peers' resources may hinder its ability to maintain its strong rate of design wins and share gains.",
    "output": "[Cause] the scale of its peers' resources [Relation] prevent [Effect] its ability to maintain its strong rate of design wins and share gains",
    "gold": "[Cause] the scale of its peers' resources [Relation] prevent [Effect] its ability to maintain its strong rate of design wins and share gains",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, the SaaS vendors benefited from more predictable revenue streams, the elimination of piracy, and supporting only one product version.",
    "output": "[Cause] more predictable revenue streams, the elimination of piracy, and supporting only one product version [Relation] enable [Effect] SaaS vendors",
    "gold": "[Cause] the SaaS vendors [Relation] enable [Effect]  more predictable revenue streams, the elimination of piracy, and supporting only one product version",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "It appears that Criteo is losing the battle as the firm lowered its 2018 net revenue guidance mainly due to Apple's ITP.",
    "output": "[Cause] Apple's ITP [Relation] cause [Effect] the firm lowered its 2018 net revenue guidance",
    "gold": "[Cause] Apple's ITP [Relation] cause [Effect]  the firm lowered its 2018 net revenue guidance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It appears that Criteo is losing the battle as the firm lowered its 2018 net revenue guidance mainly due to Apple's ITP.",
    "output": "[Cause] Apple's ITP [Relation] cause [Effect] the firm lowered its 2018 net revenue guidance",
    "gold": "[Cause]  the firm lowered its 2018 net revenue guidance [Relation] cause [Effect] Criteo is losing the battle",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Advent has said that its asset management clients may rotate its accounting systems every 10 to 15 years, and as a result the available addressable market up for grabs every year is quite small.",
    "output": "[Cause] its asset management clients may rotate its accounting systems every 10 to 15 years [Relation] cause [Effect] the available addressable market up for grabs every year is quite small",
    "gold": "[Cause]  its asset management clients may rotate its accounting systems every 10 to 15 years [Relation] cause [Effect]  the available addressable market up for grabs every year is quite small",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We agree with the strategy that Intesa has followed and believe that increasing capital-light fee income from the asset management and private bank cluster, combined with increased overall efficiency, will support profitability.",
    "output": "[Cause] increasing capital-light fee income from the asset management and private bank cluster, combined with increased overall efficiency [Relation] enable [Effect] support profitability",
    "gold": "[Cause]  increasing capital-light fee income from the asset management and private bank cluster, combined with increased overall efficiency [Relation] enable [Effect]  support profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Barriers to entry are very low given the small size of the properties and that the cost to build is generally around $5 million.",
    "output": "[Cause] the small size of the properties and that the cost to build is generally around $5 million [Relation] cause [Effect] Barriers to entry are very low",
    "gold": "[Cause] the small size of the properties and that the cost to build is generally around $5 million [Relation] cause [Effect] Barriers to entry are very low",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Horton to increase its consolidated revenue at about a 6% annual growth rate through 2030 as housing starts sustainably reach 1.4-1.5 million units annually over the next decade.",
    "output": "[Cause] housing starts sustainably reach 1.4-1.5 million units annually over the next decade [Relation] cause [Effect] Horton to increase its consolidated revenue at about a 6% annual growth rate through 2030",
    "gold": "[Cause] housing starts sustainably reach 1.4-1.5 million units annually over the next decade [Relation] cause [Effect] Horton to increase its consolidated revenue at about a 6% annual growth rate through 2030",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast a 2021-30 adjusted EPS CAGR of 3.2% as the contribution from WPD and grid investments will more than offset the returns cut in the U.K.",
    "output": "[Cause] the contribution from WPD and grid investments will more than offset the returns cut in the U.K [Relation] cause [Effect] We forecast a 2021-30 adjusted EPS CAGR of 3.2%",
    "gold": "[Cause] the contribution from WPD and grid investments will more than offset the returns cut in the U.K [Relation] cause [Effect] We forecast a 2021-30 adjusted EPS CAGR of 3.2%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the company's ability to manage costs while still fueling brand spending (we forecast around 10% of sales spent on advertising and 2%-2.5% spent on R&D annually, equating to about $1.1 billion in aggregate annually) will lead to modest operating margin gains.",
    "output": "[Cause] the company's ability to manage costs while still fueling brand spending [Relation] cause [Effect] modest operating margin gains",
    "gold": "[Cause] the company's ability to manage costs while still fueling brand spending [Relation] cause [Effect] modest operating margin gains",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The regulatory changes will help with the swifter resolution of future nonperforming loans, but there remains the critical issue of the inherent conflict of interest at the regional popolari: where the popolari's clients/debtors and owners tend to be the same parties.",
    "output": "[Cause] The regulatory changes [Relation] enable [Effect] help with the swifter resolution of future nonperforming loans",
    "gold": "[Cause] The regulatory changes [Relation] enable [Effect] help with the swifter resolution of future nonperforming loans",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With fiber networks that penetrate deeply into residential areas, cable companies have an opportunity to either build a wireless network or partner closely with an existing carrier.",
    "output": "[Cause] fiber networks that penetrate deeply into residential areas [Relation] enable [Effect] cable companies have an opportunity to either build a wireless network or partner closely with an existing carrier",
    "gold": "[Cause] fiber networks that penetrate deeply into residential areas [Relation] cause [Effect] cable companies have an opportunity to either build a wireless network or partner closely with an existing carrier",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Simon's malls are in densely populated, high-income submarkets that support high foot traffic and high sales for tenants, we are concerned about a change in consumer behavior that may reduce the impact of the network effect.",
    "output": "[Cause] a change in consumer behavior [Relation] cause [Effect] reduce the impact of the network effect",
    "gold": "[Cause] a change in consumer behavior [Relation] cause [Effect] reduce the impact of the network effect",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If E&Ps are unwilling to invest in drilling and fracking services, firms like Patterson will continue to experience lower than normal revenue.",
    "output": "[Cause] E&Ps are unwilling to invest in drilling and fracking services [Relation] cause [Effect] firms like Patterson will continue to experience lower than normal revenue",
    "gold": "[Cause] E&Ps are unwilling to invest in drilling and fracking services [Relation] cause [Effect] firms like Patterson will continue to experience lower than normal revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The gathering and processing operations are some of the highest-quality G&amp;P assets in our coverage, given efficient scale advantages for assets located in the Appalachian Basin, leading to highly lucrative contracts with EQT.",
    "output": "[Cause] efficient scale advantages for assets located in the Appalachian Basin [Relation] cause [Effect] highly lucrative contracts with EQT",
    "gold": "[Cause] efficient scale advantages for assets located in the Appalachian Basin [Relation] cause [Effect] highly lucrative contracts with EQT",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect research and development costs to continue to ramp up as assets move into late-stage trials, although these costs will be mitigated by cost-sharing partnerships.",
    "output": "[Cause] assets move into late-stage trials [Relation] cause [Effect] research and development costs to continue to ramp up",
    "gold": "[Cause] cost-sharing partnerships [Relation] cause [Effect] these costs will be mitigated",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the early stage of industry's maturity and both high risks and high opportunities for the company, we believe investing in Farfetch shares comes with very high uncertainty.",
    "output": "[Cause] the early stage of industry's maturity and both high risks and high opportunities for the company [Relation] cause [Effect] investing in Farfetch shares comes with very high uncertainty",
    "gold": "[Cause] the early stage of industry's maturity and both high risks and high opportunities for the company [Relation] cause [Effect] investing in Farfetch shares comes with very high uncertainty",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The shift from multi-use to single-use containers in these regions is likely to weigh on margins over time, although the impact will be largely offset at the bottom line by the higher volume this transition entails.",
    "output": "[Cause] The shift from multi-use to single-use containers in these regions [Relation] cause [Effect] weigh on margins over time",
    "gold": "[Cause] The shift from multi-use to single-use containers in these regions [Relation] cause [Effect]  weigh on margins over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, Energy Transfer's size has become a financial, regulatory, and political liability as sentiment turns against the energy industry.",
    "output": "[Cause] sentiment turns against the energy industry [Relation] cause [Effect] Energy Transfer's size has become a financial, regulatory, and political liability",
    "gold": "[Cause] sentiment turns against the energy industry [Relation] cause [Effect] Energy Transfer's size has become a financial, regulatory, and political liability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The events of the last year in terms of pandemic losses and lower interest rates could keep pricing trending higher, and the industry has historically had a tendency to overshoot.",
    "output": "[Cause] The events of the last year in terms of pandemic losses and lower interest rates [Relation] enable [Effect] pricing trending higher",
    "gold": "[Cause] The events of the last year in terms of pandemic losses and lower interest rates [Relation] enable [Effect] pricing trending higher",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For 2021, we expect gross revenue to rise 12% on robust demand and pricing trends in the first half and look for net revenue to increase 14% as the firm passes along rising carrier rates to shippers and gross margins recover.",
    "output": "[Cause] the firm passes along rising carrier rates to shippers and gross margins recover [Relation] cause [Effect] gross revenue to rise 12% on robust demand and pricing trends in the first half and look for net revenue to increase 14%",
    "gold": "[Cause]  the firm passes along rising carrier rates to shippers and gross margins recover [Relation] enable [Effect] gross revenue to rise 12% on robust demand and pricing trends in the first half and look for net revenue to increase 14%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lower capital requirements, due to phasing out development costs as new engines enter service, and the resolution of Trent 1000 engine-related issues will provide some support to returns in a volatile environment.",
    "output": "[Cause] Lower capital requirements, due to phasing out development costs as new engines enter service, and the resolution of Trent 1000 engine-related issues [Relation] enable [Effect] provide some support to returns in a volatile environment",
    "gold": "[Cause] phasing out development costs as new engines enter service, and the resolution of Trent 1000 engine-related issues will provide some support to returns in a volatile environment [Relation] cause [Effect] Lower capital requirements",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As result, the AMC channel is now available in 125 countries. This also better positions AMC to benefit from increased pay-TV penetration internationally as 24% of revenue now comes from abroad versus 8% prior to the transaction.",
    "output": "[Cause] the AMC channel is now available in 125 countries [Relation] cause [Effect] better positions AMC to benefit from increased pay-TV penetration internationally as 24% of revenue now comes from abroad versus 8% prior to the transaction",
    "gold": "[Cause]  the AMC channel is now available in 125 countries [Relation] enable [Effect]  better positions AMC to benefit from increased pay-TV penetration internationally as 24% of revenue now comes from abroad versus 8% prior to the transaction",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the decades since inception, Polaris and BRP (Bombardier) have delivered more compelling and technologically advanced products than their peers. This has allowed Polaris and Can-Am to take stronger market share positions in recent years than peers, including close competitor Arctic Cat (Textron).",
    "output": "[Cause] Polaris and BRP (Bombardier) have delivered more compelling and technologically advanced products than their peers [Relation] enable [Effect] Polaris and Can-Am to take stronger market share positions in recent years than peers, including close competitor Arctic Cat (Textron)",
    "gold": "[Cause] Polaris and BRP (Bombardier) have delivered more compelling and technologically advanced products than their peers [Relation] enable [Effect] Polaris and Can-Am to take stronger market share positions in recent years than peers, including close competitor Arctic Cat (Textron)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Zscaler's software-as-a-service business model and the benefits that accompany this mode of software consumption, combined with an innovative product suite and a differentiated channel sales model, are all factors that we think will facilitate continued success winning enterprises that are consuming more cloud-based resources.",
    "output": "[Cause] Zscaler's software-as-a-service business model and the benefits that accompany this mode of software consumption, combined with an innovative product suite and a differentiated channel sales model [Relation] enable [Effect] continue success winning enterprises that are consuming more cloud-based resources",
    "gold": "[Cause] Zscaler's software-as-a-service business model and the benefits that accompany this mode of software consumption, combined with an innovative product suite and a differentiated channel sales model [Relation] enable [Effect] continued success winning enterprises that are consuming more cloud-based resources",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This loyalty presence should offer the potential to leverage data analytics and cross-sell Eldorado's growing portfolio, leading to incremental revenue generation.",
    "output": "[Cause] This loyalty presence should offer the potential to leverage data analytics and cross-sell Eldorado's growing portfolio [Relation] cause [Effect] incremental revenue generation",
    "gold": "[Cause] This loyalty presence should offer the potential to leverage data analytics and cross-sell Eldorado's growing portfolio [Relation] cause [Effect]  incremental revenue generation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The Japanese in the 1980s and 1990s had a competitive advantage by cutting their time to market in half relative to that of other manufacturers.",
    "output": "[Cause] cutting their time to market in half relative to that of other manufacturers [Relation] enable [Effect] The Japanese in the 1980s and 1990s had a competitive advantage",
    "gold": "[Cause] cutting their time to market in half relative to that of other manufacturers [Relation] cause [Effect] The Japanese in the 1980s and 1990s had a competitive advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Xcel's two largest service territories--Colorado and Minnesota--have regulatory structures that allow near real-time investment cost recovery and minimize regulatory lag, helping Xcel close the gap between earned ROE and allowed ROE.",
    "output": "[Cause] Xcel's two largest service territories--Colorado and Minnesota--have regulatory structures that allow near real-time investment cost recovery and minimize regulatory lag [Relation] enable [Effect] helping Xcel close the gap between earned ROE and allowed ROE",
    "gold": "[Cause] Xcel's two largest service territories--Colorado and Minnesota--have regulatory structures that allow near real-time investment cost recovery and minimize regulatory lag [Relation] enable [Effect] helping Xcel close the gap between earned ROE and allowed ROE",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Research and development expenses will impact Micron's operating margin, as the firm must continue to spend to support new technologies such as 10-nanometer and below DRAM as well as 176-layer and above 3D NAND to remain competitive.",
    "output": "[Cause] the firm must continue to spend to support new technologies such as 10-nanometer and below DRAM as well as 176-layer and above 3D NAND to remain competitive [Relation] cause [Effect] Research and development expenses will impact Micron's operating margin",
    "gold": "[Cause] the firm must continue to spend to support new technologies such as 10-nanometer and below DRAM as well as 176-layer and above 3D NAND to remain competitive [Relation] cause [Effect] Research and development expenses will impact Micron's operating margin",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect gross margins to hold at about 26% over the long term (which aligns with the average level of profitability generated the two years before the pandemic), as price increases should offset inflation and our assessment that the volume disruption from COVID-19 will prove temporary.",
    "output": "[Cause] price increases should offset inflation [Relation] cause [Effect] gross margins to hold at about 26% over the long term",
    "gold": "[Cause]  price increases should offset inflation [Relation] cause [Effect] gross margins to hold at about 26% over the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect gross margins to hold at about 26% over the long term (which aligns with the average level of profitability generated the two years before the pandemic), as price increases should offset inflation and our assessment that the volume disruption from COVID-19 will prove temporary.",
    "output": "[Cause] price increases should offset inflation [Relation] cause [Effect] gross margins to hold at about 26% over the long term",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] volume disruption",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We still believe the firm will use some Huawei equipment if it is ultimately allowed, and an inability to do so could marginally raise costs.",
    "output": "[Cause] an inability to do so [Relation] cause [Effect] marginally raise costs",
    "gold": "[Cause] the firm will use some Huawei equipment [Relation] enable [Effect] marginally raise costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Rakuten entering the market as a fourth operator in 2020 may also have a negative impact on pricing if customers can be convinced of its coverage and network robustness.",
    "output": "[Cause] customers can be convinced of its coverage and network robustness [Relation] cause [Effect] Rakuten entering the market as a fourth operator in 2020 may also have a negative impact on pricing",
    "gold": "[Cause] Rakuten entering the market as a fourth operator in 2020 [Relation] cause [Effect] have a negative impact on pricing if customers can be convinced of its coverage and network robustness",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although regulatory relations in Florida have improved significantly, it's always possible that regulators could reverse their stance and put at risk FP&L's ability to deploy capital at attractive rates of return.",
    "output": "[Cause] regulators could reverse their stance [Relation] cause [Effect] put at risk FP&L's ability to deploy capital at attractive rates of return",
    "gold": "[Cause] regulators could reverse their stance [Relation] cause [Effect] put at risk FP&L's ability to deploy capital at attractive rates of return",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On one hand, ongoing cost savings and stronger mix from lower device sales will be beneficial to PM's margin, but on the other hand, modest operating deleverage will be a drag.",
    "output": "[Cause] ongoing cost savings and stronger mix from lower device sales [Relation] enable [Effect] beneficial to PM's margin",
    "gold": "[Cause] ongoing cost savings and stronger mix from lower device sales [Relation] cause [Effect]  beneficial to PM's margin",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect a 8% CAGR in online marketing revenue in the next five years, driven by recovery in the longer term.",
    "output": "[Cause] recovery in the longer term [Relation] cause [Effect] a 8% CAGR in online marketing revenue in the next five years",
    "gold": "[Cause] recovery in the longer term [Relation] cause [Effect] a 8% CAGR in online marketing revenue in the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Longer term (between 2023 and 2025), we think the firm can post 5%-6% average net revenue growth, as benefits from the network effect support share gains.",
    "output": "[Cause] benefits from the network effect support share gains [Relation] cause [Effect] Longer term (between 2023 and 2025), we think the firm can post 5%-6% average net revenue growth",
    "gold": "[Cause] benefits from the network effect support share gains [Relation] cause [Effect] Longer term (between 2023 and 2025), we think the firm can post 5%-6% average net revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that over the medium term, COVID-19 has pulled forward some demand by changing consumer behavior and better penetrating some retail categories, such as groceries and luxury goods, that previously had not gained as much traction online.",
    "output": "[Cause] changing consumer behavior and better penetrating some retail categories [Relation] enable [Effect] COVID-19 has pulled forward some demand",
    "gold": "[Cause] changing consumer behavior and better penetrating some retail categories [Relation] enable [Effect] COVID-19 has pulled forward some demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have lifted our average gross margin (to 40% from 38% prior) over the next decade, as we expect strategic changes at VS to stabilize demand and innovation at BBW to permit pricing power.",
    "output": "[Cause] strategic changes at VS to stabilize demand and innovation at BBW to permit pricing power [Relation] cause [Effect] lifted our average gross margin (to 40% from 38% prior) over the next decade",
    "gold": "[Cause]  strategic changes at VS to stabilize demand and innovation at BBW [Relation] enable [Effect]  pricing power",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given that the bulk of mortgages are agency-compliant, using Equifax (along with TransUnion and Experian) is essentially required for a mortgage lender.",
    "output": "[Cause] the bulk of mortgages are agency-compliant [Relation] cause [Effect] using Equifax (along with TransUnion and Experian) is essentially required for a mortgage lender",
    "gold": "[Cause] the bulk of mortgages are agency-compliant [Relation] cause [Effect] using Equifax (along with TransUnion and Experian) is essentially required for a mortgage lender",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We attribute the slower adoption to AMD's lack of presence in the data center CPU market for much of the decade before 2017, which likely made relatively risk-averse enterprise customers wary of going with EPYC.",
    "output": "[Cause] AMD's lack of presence in the data center CPU market for much of the decade before 2017 [Relation] cause [Effect] the slower adoption",
    "gold": "[Cause] We attribute the slower adoption to AMD's lack of presence in the data center CPU market for much of the decade before 2017 [Relation] cause [Effect] which likely made relatively risk-averse enterprise customers wary of going with EPYC",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Since Hexcel does not have meaningful proprietary aftermarket revenue, the company also has risks related to the average age of aircraft.",
    "output": "[Cause] Hexcel does not have meaningful proprietary aftermarket revenue [Relation] cause [Effect] the company also has risks related to the average age of aircraft",
    "gold": "[Cause] Hexcel does not have meaningful proprietary aftermarket revenue [Relation] cause [Effect]  the company also has risks related to the average age of aircraft",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Franklin earns higher fees on global/international offerings than it does on domestic funds, the firm is also exposed to cultural, economic, political, and currency risks through its overseas operations and investments.",
    "output": "[Cause] its overseas operations and investments [Relation] cause [Effect] the firm is also exposed to cultural, economic, political, and currency risks",
    "gold": "[Cause] its overseas operations and investments [Relation] enable [Effect] the firm is also exposed to cultural, economic, political, and currency risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "M&T has also recently announced it will acquire People's Bank, further expanding its geographical reach in the northeast and its product offerings.",
    "output": "[Cause] M&T has also recently announced it will acquire People's Bank [Relation] enable [Effect] further expanding its geographical reach in the northeast and its product offerings",
    "gold": "[Cause] M&T has also recently announced it will acquire People's Bank [Relation] enable [Effect] further expanding its geographical reach in the northeast and its product offerings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the growth we see from growing mass gambling and nongaming activity, we project Macao EBITDA margins to remain fairly steady at 27% in 2029 from 25% in 2019, despite higher expected license-renewal fees beginning in 2022.",
    "output": "[Cause] the growth we see from growing mass gambling and nongaming activity [Relation] cause [Effect] Macao EBITDA margins to remain fairly steady at 27% in 2029 from 25% in 2019",
    "gold": "[Cause]  the growth we see from growing mass gambling and nongaming activity [Relation] cause [Effect] Macao EBITDA margins to remain fairly steady at 27% in 2029 from 25% in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While these puts and takes may offset each other, we believe profitability has a lot of room for improvement as Charter increases prices in the coming years.",
    "output": "[Cause] Charter increases prices in the coming years [Relation] cause [Effect] profitability has a lot of room for improvement",
    "gold": "[Cause] Charter increases prices in the coming years [Relation] enable [Effect] profitability has a lot of room for improvement",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While these puts and takes may offset each other, we believe profitability has a lot of room for improvement as Charter increases prices in the coming years.",
    "output": "[Cause] Charter increases prices in the coming years [Relation] cause [Effect] profitability has a lot of room for improvement",
    "gold": "[Cause]  these puts and takes may offset each other [Relation] prevent [Effect] profitability has a lot of room for improvement",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, CME's position within S&amp;P futures likely contributed to the exchange's ability to attract additional equity index futures license agreements for the Nasdaq and Russell 2000 indexes, which returned to CME Group in 2017.",
    "output": "[Cause] CME's position within S&amp;P futures [Relation] enable [Effect] the exchange's ability to attract additional equity index futures license agreements for the Nasdaq and Russell 2000 indexes, which returned to CME Group in 2017",
    "gold": "[Cause] exchange's ability to attract additional equity index futures license agreements for the Nasdaq and Russell 2000 indexes [Relation] cause [Effect] returned to CME Group in 2017",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While Healthpeak is in sectors that use a triple-net lease structure that can have long contracts with annual rent increases, these contracts are often renegotiated if the underlying tenant operations are under pressure.",
    "output": "[Cause] the underlying tenant operations are under pressure [Relation] cause [Effect] these contracts are often renegotiated",
    "gold": "[Cause]  Healthpeak is in sectors that use a triple-net lease structure [Relation] enable [Effect]  have long contracts with annual rent increases",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With about one third of its revenue generated outside the United States, Northern Trust's business is a global one, and the bank must carefully manager exchange-rate-risk and operational risks.",
    "output": "[Cause] Northern Trust's business is a global one [Relation] cause [Effect] the bank must carefully manager exchange-rate-risk and operational risks",
    "gold": "[Cause] Northern Trust's business is a global one [Relation] cause [Effect] the bank must carefully manager exchange-rate-risk and operational risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Considering an over 1,000-basis-point differential, we see room for further margin expansion in the international segment, and we expect the firm will continue to work to narrow the gap by further simplifying the business and completing its planned 30 country exits to focus on higher-margin markets.",
    "output": "[Cause] an over 1,000-basis-point differential [Relation] cause [Effect] room for further margin expansion in the international segment",
    "gold": "[Cause] the firm will continue to work to narrow the gap by further simplifying the business and completing its planned 30 country exits [Relation] enable [Effect]  focus on higher-margin markets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Considering an over 1,000-basis-point differential, we see room for further margin expansion in the international segment, and we expect the firm will continue to work to narrow the gap by further simplifying the business and completing its planned 30 country exits to focus on higher-margin markets.",
    "output": "[Cause] further simplifying the business and completing its planned 30 country exits [Relation] enable [Effect] focus on higher-margin markets",
    "gold": "[Cause] an over 1,000-basis-point differential [Relation] cause [Effect] room for further margin expansion in the international segment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, we believe S&amp;P benefits from a network effect as it maintains a network of issuers and investors.",
    "output": "[Cause] it maintains a network of issuers and investors [Relation] cause [Effect] S&amp;P benefits from a network effect",
    "gold": "[Cause] it maintains a network of issuers and investors [Relation] cause [Effect] S&amp;P benefits from a network effect",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Low energy prices lead to bankruptcies among small exploration companies, reducing IHS Markit's revenue and ability to leverage data assets (consolidation produces a similar effect as data products are often mission-critical for each client at the firm level).",
    "output": "[Cause] Low energy prices [Relation] cause [Effect] bankruptcies among small exploration companies",
    "gold": "[Cause] data products are often mission-critical for each client at the firm level [Relation] cause [Effect] consolidation produces a similar effect",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Low energy prices lead to bankruptcies among small exploration companies, reducing IHS Markit's revenue and ability to leverage data assets (consolidation produces a similar effect as data products are often mission-critical for each client at the firm level).",
    "output": "[Cause] low energy prices [Relation] cause [Effect] bankruptcies among small exploration companies",
    "gold": "[Cause] Low energy prices lead to bankruptcies among small exploration companies [Relation] cause [Effect]  reducing IHS Markit's revenue and ability to leverage data assets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Private networks have evolved significantly in recent years, as firms can use Internet-based, virtual solutions rather than more expensive legacy products.",
    "output": "[Cause] firms can use Internet-based, virtual solutions rather than more expensive legacy products [Relation] cause [Effect] Private networks have evolved significantly in recent years",
    "gold": "[Cause] firms can use Internet-based, virtual solutions rather than more expensive legacy products [Relation] cause [Effect] Private networks have evolved significantly in recent years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In aerospace and defense, electrical failure could mean a plane or helicopter falling out of the sky, or a compromised mission.",
    "output": "[Cause] electrical failure [Relation] cause [Effect] a plane or helicopter falling out of the sky, or a compromised mission",
    "gold": "[Cause] electrical failure [Relation] cause [Effect] a plane or helicopter falling out of the sky, or a compromised mission",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the firm has a durable position in the automotive, industrial, and communications infrastructure markets due to a combination of switching costs and intangible assets.",
    "output": "[Cause] a combination of switching costs and intangible assets [Relation] cause [Effect] the firm has a durable position in the automotive, industrial, and communications infrastructure markets",
    "gold": "[Cause]  a combination of switching costs and intangible assets [Relation] enable [Effect] the firm has a durable position in the automotive, industrial, and communications infrastructure markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This industry also benefits from favorable growth tailwinds that should allow Zoetis to increase revenue at a mid-single-digit long-term growth rate.",
    "output": "[Cause] This industry also benefits from favorable growth tailwinds [Relation] enable [Effect] Zoetis to increase revenue at a mid-single-digit long-term growth rate",
    "gold": "[Cause] This industry also benefits from favorable growth tailwinds [Relation] enable [Effect]  Zoetis to increase revenue at a mid-single-digit long-term growth rate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to operating cost cuts, we project only a 1.6% increase in selling, general, and administrative expenses in 2020, leading to an operating margin of 7.8%, up 350 basis points from 2019.",
    "output": "[Cause] operating cost cuts [Relation] cause [Effect] an operating margin of 7.8%, up 350 basis points from 2019",
    "gold": "[Cause] a 1.6% increase in selling, general, and administrative expenses in 2020 [Relation] cause [Effect] an operating margin of 7.8%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, we think fleet owners would lose out on some purchasing power by dividing up their purchases across multiple suppliers, as opposed to working with a single supplier.",
    "output": "[Cause] dividing up their purchases across multiple suppliers [Relation] cause [Effect] fleet owners would lose out on some purchasing power",
    "gold": "[Cause] working with a single supplier [Relation] enable [Effect] lose out on some purchasing power",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Increased attrition could cause wear on Cognizant's intangible assets, as less technical and industry expertise would remain in the firm.",
    "output": "[Cause] less technical and industry expertise would remain in the firm [Relation] cause [Effect] Increased attrition could cause wear on Cognizant's intangible assets",
    "gold": "[Cause] Increased attrition [Relation] cause [Effect] wear on Cognizant's intangible assets, as less technical and industry expertise would remain in the firm",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We assume that over time, a far greater portion of the nodes will be co-located on fiber that the company has already deployed for small cells, leading to substantially lower spending to activate those nodes.",
    "output": "[Cause] a far greater portion of the nodes will be co-located on fiber that the company has already deployed for small cells [Relation] cause [Effect] substantially lower spending to activate those nodes",
    "gold": "[Cause] a far greater portion of the nodes will be co-located on fiber that the company has already deployed for small cells [Relation] enable [Effect] substantially lower spending to activate those nodes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Tractor Supply is somewhat insulated from competitive pricing pressure from Home Depot and Lowe's in overlapping product categories, due to the company's focus on rural presence, versus its competitors more urban/suburban focus.",
    "output": "[Cause] the company's focus on rural presence, versus its competitors more urban/suburban focus [Relation] cause [Effect] Tractor Supply is somewhat insulated from competitive pricing pressure from Home Depot and Lowe's in overlapping product categories",
    "gold": "[Cause] the company's focus on rural presence, versus its competitors more urban/suburban focus [Relation] cause [Effect] Tractor Supply is somewhat insulated from competitive pricing pressure from Home Depot and Lowe's in overlapping product categories",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the metals business (known as SS&M) and debt load will weigh on the shares for a long time (though that time may be falling after the China sale), so investors will need to be patient, as we believe Adient is a multiyear turnaround story.",
    "output": "[Cause] the metals business (known as SS&M) and debt load [Relation] cause [Effect] weigh on the shares for a long time",
    "gold": "[Cause] the metals business (known as SS&M) and debt load will weigh on the shares for a long time [Relation] cause [Effect] investors will need to be patient",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think the metals business (known as SS&M) and debt load will weigh on the shares for a long time (though that time may be falling after the China sale), so investors will need to be patient, as we believe Adient is a multiyear turnaround story.",
    "output": "[Cause] the metals business (known as SS&M) and debt load [Relation] cause [Effect] weigh on the shares for a long time",
    "gold": "[Cause] we believe Adient is a multiyear turnaround story [Relation] cause [Effect] investors will need to be patient",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As military helicopters have decades-long useful lives, we believe the company will continue earning an excess return through V-22 sustainment even after production halts.",
    "output": "[Cause] military helicopters have decades-long useful lives [Relation] cause [Effect] the company will continue earning an excess return through V-22 sustainment even after production halts",
    "gold": "[Cause] military helicopters have decades-long useful lives [Relation] cause [Effect] the company will continue earning an excess return through V-22 sustainment even after production halts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think this retention speaks, in part, to the commoditized nature of water: Once Primo has a customer, it is likely difficult for another supplier to articulate a materially superior value proposition for another product or service.",
    "output": "[Cause] the commoditized nature of water [Relation] cause [Effect] this retention speaks",
    "gold": "[Cause] Once Primo has a customer, it is likely difficult for another supplier to articulate a materially superior value proposition for another product or service [Relation] enable [Effect] to the commoditized nature of water",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Humana could even be a key beneficiary of a Medicare Advantage-based public option if the primary result of adding that option is the reduction of the uninsured population rather than a significant shift away from employer-based insurance.",
    "output": "[Cause] the primary result of adding that option is the reduction of the uninsured population rather than a significant shift away from employer-based insurance [Relation] cause [Effect] Humana could even be a key beneficiary of a Medicare Advantage-based public option",
    "gold": "[Cause] the primary result of adding that option is the reduction of the uninsured population rather than a significant shift away from employer-based insurance [Relation] enable [Effect] Humana could even be a key beneficiary of a Medicare Advantage-based public option",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The coronavirus pandemic has substantially reduced travel and consequently grounded a large chunk of the global passenger fleet, though some domestic air travel is beginning to rebound.",
    "output": "[Cause] The coronavirus pandemic [Relation] cause [Effect] grounded a large chunk of the global passenger fleet",
    "gold": "[Cause] reduced travel [Relation] cause [Effect] grounded a large chunk of the global passenger fleet",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Even for wealthy citizens of stable, western democracies, Switzerland represents a safe haven that provides diversification and liquidity to their portfolios.",
    "output": "[Cause] Switzerland represents a safe haven [Relation] enable [Effect] provides diversification and liquidity to their portfolios",
    "gold": "[Cause] Switzerland represents a safe haven [Relation] enable [Effect] provides diversification and liquidity to their portfolios",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To stay differentiated, EOS upgrades keep customers at the forefront of software trends and less likely to look for a different vendor.",
    "output": "[Cause] EOS upgrades [Relation] enable [Effect] stay differentiated",
    "gold": "[Cause] EOS upgrades keep customers at the forefront of software trends [Relation] enable [Effect]  less likely to look for a different vendor",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Shell employs large amounts of capital in building out its production portfolio, and cost overruns and/or completion delays are continued sources of uncertainty.",
    "output": "[Cause] cost overruns and/or completion delays [Relation] cause [Effect] continued sources of uncertainty",
    "gold": "[Cause] cost overruns and/or completion delays [Relation] cause [Effect] continued sources of uncertainty",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect elevated spectrum costs over the next few years related to money owed on the Italian auctions in fiscal 2019, mostly payable in 2022, and the recent auction in Germany.",
    "output": "[Cause] money owed on the Italian auctions in fiscal 2019 [Relation] cause [Effect] elevated spectrum costs over the next few years",
    "gold": "[Cause] money owed on the Italian auctions in fiscal 2019 [Relation] cause [Effect] elevated spectrum costs over the next few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect elevated spectrum costs over the next few years related to money owed on the Italian auctions in fiscal 2019, mostly payable in 2022, and the recent auction in Germany.",
    "output": "[Cause] money owed on the Italian auctions in fiscal 2019 [Relation] cause [Effect] elevated spectrum costs over the next few years",
    "gold": "[Cause] the recent auction in Germany [Relation] cause [Effect] elevated spectrum costs over the next few years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe investors need to keep the fluctuations of an economic cycle in mind when making investment decisions in staffing firms as performance varies greatly during economic cycles.",
    "output": "[Cause] performance varies greatly during economic cycles [Relation] cause [Effect] investors need to keep the fluctuations of an economic cycle in mind when making investment decisions in staffing firms",
    "gold": "[Cause] performance varies greatly during economic cycles [Relation] cause [Effect]  investors need to keep the fluctuations of an economic cycle in mind when making investment decisions in staffing firms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "TSMC's technological independence ensures its R&D efforts are customer-agnostic and readily expanded to legacy applications as cost and reliability improve.",
    "output": "[Cause] cost and reliability improve [Relation] cause [Effect] readily expanded to legacy applications",
    "gold": "[Cause] TSMC's technological independence [Relation] enable [Effect] ensures its R&D efforts are customer-agnostic",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "TSMC's technological independence ensures its R&D efforts are customer-agnostic and readily expanded to legacy applications as cost and reliability improve.",
    "output": "[Cause] cost and reliability improve [Relation] enable [Effect] readily expanded to legacy applications",
    "gold": "[Cause]  cost and reliability improve [Relation] enable [Effect] readily expanded to legacy applications",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It has done this by increasing engineering expertise and personnel by increasing headcount and through acquisitions (such as the $328 million purchase of eInfochips, which increased Arrow's engineering team by 1,500).",
    "output": "[Cause] increasing headcount and through acquisitions [Relation] enable [Effect] increasing headcount",
    "gold": "[Cause] increasing headcount | acquisitions [Relation] enable [Effect] increasing engineering expertise and personnel",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With the acquisition of Telefonica's wireless assets in Panama and Nicaragua and the pending acquisition in Costa Rica, Millicom will have the ability to offer converged fixed-line and wireless services in each of the nine Latin American countries where it operates.",
    "output": "[Cause] the acquisition of Telefonica's wireless assets in Panama and Nicaragua and the pending acquisition in Costa Rica [Relation] enable [Effect] Millicom will have the ability to offer converged fixed-line and wireless services in each of the nine Latin American countries where it operates",
    "gold": "[Cause]  the acquisition of Telefonica's wireless assets in Panama and Nicaragua and the pending acquisition in Costa Rica [Relation] enable [Effect] Millicom will have the ability to offer converged fixed-line and wireless services in each of the nine Latin American countries where it operates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customers also enjoy the added benefit of converting fixed transportation management costs (such as a large traffic management department) into variable costs.",
    "output": "[Cause] Customers also enjoy the added benefit of converting fixed transportation management costs (such as a large traffic management department) into variable costs [Relation] enable [Effect] Customers also enjoy the added benefit",
    "gold": "[Cause] Customers [Relation] enable [Effect] enjoy the added benefit of converting fixed transportation management costs (such as a large traffic management department) into variable costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company's commodity futures are globally relevant, so growth in emerging and developing markets should increase energy and agricultural commodity trading volumes.",
    "output": "[Cause] The company's commodity futures are globally relevant [Relation] cause [Effect] growth in emerging and developing markets should increase energy and agricultural commodity trading volumes",
    "gold": "[Cause] The company's commodity futures are globally relevant [Relation] cause [Effect] growth in emerging and developing markets should increase energy and agricultural commodity trading volumes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect State Street's net interest income to continue to be pressured as low interest rates and a relatively flat yield curve weigh on the firm.",
    "output": "[Cause] low interest rates and a relatively flat yield curve weigh on the firm [Relation] cause [Effect] State Street's net interest income to continue to be pressured",
    "gold": "[Cause] low interest rates and a relatively flat yield curve weigh on the firm [Relation] cause [Effect] State Street's net interest income to continue to be pressured",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, the company's entrenchment in the emerging immuno-oncology area should strengthen Merck's competitive position with drugs that carry very strong pricing power in areas of unmet medical need.",
    "output": "[Cause] the company's entrenchment in the emerging immuno-oncology area [Relation] enable [Effect] strengthen Merck's competitive position with drugs that carry very strong pricing power in areas of unmet medical need",
    "gold": "[Cause] the company's entrenchment in the emerging immuno-oncology area [Relation] cause [Effect] strengthen Merck's competitive position with drugs that carry very strong pricing power in areas of unmet medical need",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, the confluence of leadership across multiple categories and beverages representing roughly 20% of food and grocery sales have resulted in Keurig Dr Pepper achieving strategic partner status, an enviable position that begets tangible and intangible benefits that serve to perpetuate the firm's structural advantages.",
    "output": "[Cause] the confluence of leadership across multiple categories and beverages representing roughly 20% of food and grocery sales [Relation] cause [Effect] Keurig Dr Pepper achieving strategic partner status",
    "gold": "[Cause] the confluence of leadership across multiple categories and beverages representing roughly 20% of food and grocery sales [Relation] enable [Effect] Keurig Dr Pepper achieving strategic partner status",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, the confluence of leadership across multiple categories and beverages representing roughly 20% of food and grocery sales have resulted in Keurig Dr Pepper achieving strategic partner status, an enviable position that begets tangible and intangible benefits that serve to perpetuate the firm's structural advantages.",
    "output": "[Cause] Keurig Dr Pepper achieving strategic partner status [Relation] enable [Effect] begets tangible and intangible benefits that serve to perpetuate the firm's structural advantages",
    "gold": "[Cause] Keurig Dr Pepper achieving strategic partner status [Relation] cause [Effect] begets tangible and intangible benefits that serve to perpetuate the firm's structural advantages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the long term, we expect the repair and remodel market will benefit from several long-term secular tailwinds related to aging housing stock, favorable demographics, increased demand for smart home and energy-efficient products and solutions, and increased spending among minority households.",
    "output": "[Cause] aging housing stock, favorable demographics, increased demand for smart home and energy-efficient products and solutions, and increased spending among minority households [Relation] cause [Effect] the repair and remodel market will benefit from several long-term secular tailwinds",
    "gold": "[Cause]  aging housing stock, favorable demographics, increased demand for smart home and energy-efficient products and solutions, and increased spending among minority households [Relation] cause [Effect] the repair and remodel market will benefit from several long-term secular tailwinds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, CME's deep liquid markets in S&amp;P futures likely contributed to the exchange's ability to attract additional equity index futures license agreements for the Nasdaq and Russell 2000 indexes, which returned to CME Group in 2017.",
    "output": "[Cause] CME's deep liquid markets in S&amp;P futures [Relation] enable [Effect] the exchange's ability to attract additional equity index futures license agreements for the Nasdaq and Russell 2000 indexes, which returned to CME Group in 2017",
    "gold": "[Cause] CME's deep liquid markets in S&amp;P futures [Relation] enable [Effect] the exchange's ability to attract additional equity index futures license agreements for the Nasdaq and Russell 2000 indexes, which returned to CME Group in 2017",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As more supplier content (predominantly airline content) is added, more travel agents use the platform, and as more travel agents use the platform, suppliers offer more content.",
    "output": "[Cause] more supplier content (predominantly airline content) is added [Relation] cause [Effect] more travel agents use the platform",
    "gold": "[Cause] more supplier content (predominantly airline content) is added [Relation] cause [Effect] more travel agents use the platform",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As more supplier content (predominantly airline content) is added, more travel agents use the platform, and as more travel agents use the platform, suppliers offer more content.",
    "output": "[Cause] more travel agents use the platform [Relation] cause [Effect] suppliers offer more content",
    "gold": "[Cause]  more travel agents use the platform [Relation] cause [Effect] suppliers offer more content",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For instance, we recognize that Kyocera has been somewhat inflexible in adapting to its changing environment and making drastic decisions regarding restructuring and mergers and acquisitions, and we regard this as the flip side of Amoeba Management. As a result, while we understand that the semiconductor (15% of revenue in fiscal 2020) and electronic devices (20% of revenue) segments have been profitable, we are concerned that two business segments--communications (19%), and life and environment (5%)--have been quite volatile over the past decade.",
    "output": "[Cause] Kyocera has been somewhat inflexible in adapting to its changing environment and making drastic decisions regarding restructuring and mergers and acquisitions, and we regard this as the flip side of Amoeba Management [Relation] cause [Effect] while we understand that the semiconductor (15% of revenue in fiscal 2020) and electronic devices (20% of revenue) segments have been profitable, we are concerned that two business segments--communications (19%), and life and environment (5%)--have been quite volatile over the past decade",
    "gold": "[Cause] Kyocera has been somewhat inflexible in adapting to its changing environment and making drastic decisions regarding restructuring and mergers and acquisitions, and we regard this as the flip side of Amoeba Management [Relation] cause [Effect]  while we understand that the semiconductor (15% of revenue in fiscal 2020) and electronic devices (20% of revenue) segments have been profitable, we are concerned that two business segments--communications (19%), and life and environment (5%)--have been quite volatile over the past decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Longer term, we increased our annual organic revenue growth forecast to 2.1% from 1.9%, after the divestiture of several slow growth brands and the deployment of more effective innovation and marketing practices, which have improved sales trends.",
    "output": "[Cause] the divestiture of several slow growth brands and the deployment of more effective innovation and marketing practices [Relation] cause [Effect] we increased our annual organic revenue growth forecast to 2.1% from 1.9%",
    "gold": "[Cause] the divestiture of several slow growth brands [Relation] cause [Effect] improved sales trends",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Longer term, we increased our annual organic revenue growth forecast to 2.1% from 1.9%, after the divestiture of several slow growth brands and the deployment of more effective innovation and marketing practices, which have improved sales trends.",
    "output": "[Cause] the deployment of more effective innovation and marketing practices [Relation] enable [Effect] improved sales trends",
    "gold": "[Cause] the deployment of more effective innovation and marketing practices [Relation] cause [Effect] improved sales trends",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Longer term, we increased our annual organic revenue growth forecast to 2.1% from 1.9%, after the divestiture of several slow growth brands and the deployment of more effective innovation and marketing practices, which have improved sales trends.",
    "output": "[Cause] the deployment of more effective innovation and marketing practices [Relation] enable [Effect] improved sales trends",
    "gold": "[Cause] improved sales trends [Relation] cause [Effect] increased our annual organic revenue growth forecast to 2.1% from 1.9%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As incomes rise in developing markets and motorists' dependence on their cars and trucks grows, we anticipate Valvoline should benefit as its higher-quality lineup takes share from small local players.",
    "output": "[Cause] incomes rise in developing markets and motorists' dependence on their cars and trucks grows [Relation] cause [Effect] Valvoline should benefit as its higher-quality lineup takes share from small local players",
    "gold": "[Cause]  incomes rise in developing markets and motorists' dependence on their cars and trucks grows [Relation] enable [Effect] Valvoline should benefit as its higher-quality lineup takes share from small local players",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The growth in penetration should allow cable networks to increase their advertising rates, providing a boost to Televisa and its 26 pay-TV networks.",
    "output": "[Cause] The growth in penetration [Relation] enable [Effect] cable networks to increase their advertising rates, providing a boost to Televisa and its 26 pay-TV networks",
    "gold": "[Cause] The growth in penetration [Relation] enable [Effect]  cable networks to increase their advertising rates, providing a boost to Televisa and its 26 pay-TV networks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Longer term, we expect earnings will fall beginning in 2023-27 as generic pressures on key drugs Revlimid and Eliquis emerge.",
    "output": "[Cause] generic pressures on key drugs Revlimid and Eliquis emerge [Relation] cause [Effect] earnings will fall beginning in 2023-27",
    "gold": "[Cause]  generic pressures on key drugs Revlimid and Eliquis emerge [Relation] cause [Effect] earnings will fall beginning in 2023-27",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In aviation, the near-term is challenging due to pandemic-related delivery delays and lower demand for a highly cyclical good.",
    "output": "[Cause] pandemic-related delivery delays and lower demand for a highly cyclical good [Relation] cause [Effect] the near-term is challenging",
    "gold": "[Cause] pandemic-related delivery delays and lower demand for a highly cyclical good [Relation] cause [Effect] the near-term is challenging",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In general, warehouse formats are attractive uses of capital, as the large quantity/high-price items lead to high sales per square foot combined with a no-frills, low-cost format.",
    "output": "[Cause] the large quantity/high-price items lead to high sales per square foot combined with a no-frills, low-cost format [Relation] cause [Effect] warehouse formats are attractive uses of capital",
    "gold": "[Cause] the large quantity/high-price items lead to high sales per square foot combined with a no-frills, low-cost format [Relation] cause [Effect] warehouse formats are attractive uses of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect these pricing dynamics to continue as Northeast gas demand rises due to power generation and residential heating conversions to cleaner-burning gas from emissions-intensive coal and oil.",
    "output": "[Cause] Northeast gas demand rises [Relation] cause [Effect] these pricing dynamics to continue",
    "gold": "[Cause] Northeast gas demand rises [Relation] cause [Effect] these pricing dynamics to continue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect these pricing dynamics to continue as Northeast gas demand rises due to power generation and residential heating conversions to cleaner-burning gas from emissions-intensive coal and oil.",
    "output": "[Cause] Northeast gas demand rises [Relation] cause [Effect] these pricing dynamics to continue",
    "gold": "[Cause] power generation and residential heating conversions to cleaner-burning gas from emissions-intensive coal and oil [Relation] cause [Effect] Northeast gas demand rises",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We see the company's recent user experience investments as prudent to maintain the network effect, particularly as other local and global players look to expand their presence in China.",
    "output": "[Cause] other local and global players look to expand their presence in China [Relation] cause [Effect] the company's recent user experience investments as prudent to maintain the network effect",
    "gold": "[Cause] prudent to maintain the network effect [Relation] cause [Effect] the company's recent user experience investments",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After 2020, we expect Lennox's top line to benefit from a recovery in new-home construction, the release of pent-up commercial replacement demand related to the 2020 downturn, and market share gains across Lennox's product portfolio.",
    "output": "[Cause] a recovery in new-home construction, the release of pent-up commercial replacement demand related to the 2020 downturn, and market share gains across Lennox's product portfolio [Relation] enable [Effect] Lennox's top line",
    "gold": "[Cause] a recovery in new-home construction, the release of pent-up commercial replacement demand related to the 2020 downturn, and market share gains across Lennox's product portfolio [Relation] enable [Effect]  Lennox's top line",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The education services segment is Wiley's smallest (13% of fiscal 2020 revenue), but its offerings should be increasingly lucrative, particularly as the pandemic accelerates online education's development.",
    "output": "[Cause] the pandemic accelerates online education's development [Relation] cause [Effect] its offerings should be increasingly lucrative",
    "gold": "[Cause] the pandemic accelerates online education's development [Relation] cause [Effect] its offerings should be increasingly lucrative",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Administrative cost savings from the merger, in addition to streamlined logistics and route density, should bring further leverage to the operating income line, and we model these margins widening to 26% in 2025 from 21.3% in 2020.",
    "output": "[Cause] Administrative cost savings from the merger [Relation] enable [Effect] further leverage to the operating income line",
    "gold": "[Cause] the merger [Relation] cause [Effect] Administrative cost savings",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Administrative cost savings from the merger, in addition to streamlined logistics and route density, should bring further leverage to the operating income line, and we model these margins widening to 26% in 2025 from 21.3% in 2020.",
    "output": "[Cause] Administrative cost savings from the merger [Relation] enable [Effect] further leverage to the operating income line",
    "gold": "[Cause] further leverage to the operating income line [Relation] cause [Effect] these margins widening to 26% in 2025 from 21.3% in 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Client size in the commercial loan book should moderate the bank's exposure, with an evident skew toward smaller corporates and small- and medium-size enterprises that have more difficulty accessing capital markets.",
    "output": "[Cause] an evident skew toward smaller corporates and small- and medium-size enterprises that have more difficulty accessing capital markets [Relation] cause [Effect] Client size in the commercial loan book should moderate the bank's exposure",
    "gold": "[Cause] an evident skew toward smaller corporates and small- and medium-size enterprises that have more difficulty accessing capital markets [Relation] cause [Effect] Client size in the commercial loan book should moderate the bank's exposure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These employees, referred to as worksite employees, are technically employed by ADP but really function as employees of the client. This allows a small business to mitigate the risk of hiring its own HR department while offering ADP's 401(k) and health benefits to these employees.",
    "output": "[Cause] These employees, referred to as worksite employees, are technically employed by ADP but really function as employees of the client [Relation] enable [Effect] a small business to mitigate the risk of hiring its own HR department while offering ADP's 401(k) and health benefits to these employees",
    "gold": "[Cause] These employees, referred to as worksite employees, are technically employed by ADP but really function as employees of the client [Relation] cause [Effect]  a small business to mitigate the risk of hiring its own HR department while offering ADP's 401(k) and health benefits to these employees",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These switching costs are in part supported by familiarity, in which clients prefer the continuity of working with the same trusted CRO, and CROs are familiar with clients' needs, systems, and methods.",
    "output": "[Cause] clients prefer the continuity of working with the same trusted CRO, and CROs are familiar with clients' needs, systems, and methods [Relation] cause [Effect] These switching costs are in part supported by familiarity",
    "gold": "[Cause] clients prefer the continuity of working with the same trusted CRO, and CROs are familiar with clients' needs, systems, and methods [Relation] cause [Effect] These switching costs are in part supported by familiarity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Plant manager pushback seems inevitable, but we believe that a renewed emphasis on profitability should boost margins in North America and Europe.",
    "output": "[Cause] a renewed emphasis on profitability [Relation] enable [Effect] boost margins in North America and Europe",
    "gold": "[Cause] a renewed emphasis on profitability [Relation] enable [Effect] boost margins in North America and Europe",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Corning can produce these high-quality glass substrates at a lower cost than its competitors as a result of its centralized R&amp;D.",
    "output": "[Cause] its centralized R&amp;D [Relation] cause [Effect] Corning can produce these high-quality glass substrates at a lower cost than its competitors",
    "gold": "[Cause] its centralized R&amp;D [Relation] enable [Effect] Corning can produce these high-quality glass substrates at a lower cost than its competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Though we like Shaw's strategy, we think it has a tough road ahead, given the established, profitable competitors that dominate the market.",
    "output": "[Cause] the established, profitable competitors that dominate the market [Relation] cause [Effect] it has a tough road ahead",
    "gold": "[Cause] the established, profitable competitors that dominate the market [Relation] cause [Effect]  it has a tough road ahead",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The equipment manufacturers engage in price wars as technology-leading peers offer similar product functionalities and there is a limited window of opportunity to win CSP contracts.",
    "output": "[Cause] technology-leading peers offer similar product functionalities and there is a limited window of opportunity to win CSP contracts [Relation] cause [Effect] The equipment manufacturers engage in price wars",
    "gold": "[Cause]  technology-leading peers offer similar product functionalities and there is a limited window of opportunity to win CSP contracts [Relation] cause [Effect] The equipment manufacturers engage in price wars",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Point-of-sale display bans limit manufacturers' ability to communicate pricing, thus creating a disincentive to engage in price promotional strategies, which have historically contracted the industry profit pool.",
    "output": "[Cause] Point-of-sale display bans [Relation] prevent [Effect] manufacturers' ability to communicate pricing",
    "gold": "[Cause] Point-of-sale display bans [Relation] prevent [Effect] the industry profit pool",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Even a few cases have led to quarantines of entire facilities, which have caused dramatic declines in occupancy over the past few several quarters.",
    "output": "[Cause] quarantines of entire facilities [Relation] cause [Effect] dramatic declines in occupancy over the past few quarters",
    "gold": "[Cause] led to quarantines of entire facilities [Relation] cause [Effect]  caused dramatic declines in occupancy over the past few several quarters",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company's global scale and sheer pharmaceutical volumes enable the company to efficiently provide access to a vast portfolio of drugs.",
    "output": "[Cause] The company's global scale and sheer pharmaceutical volumes [Relation] enable [Effect] the company to efficiently provide access to a vast portfolio of drugs",
    "gold": "[Cause] The company's global scale and sheer pharmaceutical volumes [Relation] enable [Effect]  the company to efficiently provide access to a vast portfolio of drugs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we think Sysco's solid balance sheet, with $8 billion of cash and available liquidity as of June, positions the firm well to endure the current environment.",
    "output": "[Cause] Sysco's solid balance sheet, with $8 billion of cash and available liquidity as of June [Relation] enable [Effect] positions the firm well to endure the current environment",
    "gold": "[Cause]  Sysco's solid balance sheet, with $8 billion of cash and available liquidity as of June [Relation] cause [Effect] positions the firm well to endure the current environment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As National Oilwell Varco is forced to reconfigure its operations because of lower demand, it may no longer possess an edge from its scale economies.",
    "output": "[Cause] lower demand [Relation] cause [Effect] National Oilwell Varco is forced to reconfigure its operations",
    "gold": "[Cause] lower demand [Relation] cause [Effect] National Oilwell Varco is forced to reconfigure its operations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As National Oilwell Varco is forced to reconfigure its operations because of lower demand, it may no longer possess an edge from its scale economies.",
    "output": "[Cause] National Oilwell Varco is forced to reconfigure its operations [Relation] cause [Effect] it may no longer possess an edge from its scale economies",
    "gold": "[Cause] National Oilwell Varco is forced to reconfigure its operations [Relation] cause [Effect] it may no longer possess an edge from its scale economies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The very high uncertainty rating also reflects a deteriorating macroeconomic outlook, including uncertainty in the energy end market due to the recent steep decline in oil prices.",
    "output": "[Cause] the recent steep decline in oil prices [Relation] cause [Effect] uncertainty in the energy end market",
    "gold": "[Cause]  the recent steep decline in oil prices [Relation] cause [Effect]  uncertainty in the energy end market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, potential disruptions to displace VMware within networks is not worth the risk to enterprises, and we believe VMware's customer support, services, and user-friendly design provide it with an advantage over competing open-source options.",
    "output": "[Cause] potential disruptions to displace VMware within networks [Relation] prevent [Effect] the risk to enterprises",
    "gold": "[Cause] VMware's customer support, services, and user-friendly design [Relation] enable [Effect] provide it with an advantage over competing open-source options",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This cross-selling opportunity is supported by Paycom's investments within its platform, which should allow the company to expand its customer base further up-market.",
    "output": "[Cause] This cross-selling opportunity is supported by Paycom's investments within its platform [Relation] enable [Effect] the company to expand its customer base further up-market",
    "gold": "[Cause] This cross-selling opportunity is supported by Paycom's investments within its platform [Relation] enable [Effect] the company to expand its customer base further up-market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see prices beginning to rise again in 2021 as demand has continued to grow, new supply has been delayed, and some spodumene production has been curtailed.",
    "output": "[Cause] demand has continued to grow, new supply has been delayed, and some spodumene production has been curtailed [Relation] cause [Effect] prices beginning to rise again in 2021",
    "gold": "[Cause] demand has continued to grow, new supply has been delayed, and some spodumene production has been curtailed [Relation] cause [Effect] prices beginning to rise again in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The higher levels of efficiency also allow end designs to reduce the size of a chip's capacitor (which stores short-term power for the processor), giving an even smaller form factor to customers.",
    "output": "[Cause] The higher levels of efficiency also allow end designs to reduce the size of a chip's capacitor (which stores short-term power for the processor) [Relation] enable [Effect] an even smaller form factor to customers",
    "gold": "[Cause] The higher levels of efficiency also allow end designs to reduce the size of a chip's capacitor (which stores short-term power for the processor) [Relation] enable [Effect] an even smaller form factor to customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, management has historically been aggressive when it comes to M&A, which can lead to integration risk and high financial leverage at times.",
    "output": "[Cause] M&A [Relation] cause [Effect] management has historically been aggressive",
    "gold": "[Cause]  M&A [Relation] cause [Effect] management has historically been aggressive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, the increasingly viral nature of the media creates omnipresent ESG risk in the form of potential brand degradation, in our view.",
    "output": "[Cause] the increasingly viral nature of the media [Relation] cause [Effect] omnipresent ESG risk in the form of potential brand degradation",
    "gold": "[Cause] the increasingly viral nature of the media | in the form of potential brand degradation [Relation] cause [Effect] omnipresent ESG risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This high local market share remains particularly valuable in health insurance since medical care providers typically only operate in limited geographic areas, making local market share the most relevant to most reimbursement negotiations.",
    "output": "[Cause] medical care providers typically only operate in limited geographic areas [Relation] cause [Effect] This high local market share remains particularly valuable in health insurance",
    "gold": "[Cause] medical care providers typically only operate in limited geographic areas [Relation] enable [Effect] This high local market share remains particularly valuable in health insurance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This high local market share remains particularly valuable in health insurance since medical care providers typically only operate in limited geographic areas, making local market share the most relevant to most reimbursement negotiations.",
    "output": "[Cause] medical care providers typically only operate in limited geographic areas [Relation] cause [Effect] making local market share the most relevant to most reimbursement negotiations",
    "gold": "[Cause] medical care providers typically only operate in limited geographic areas [Relation] enable [Effect] making local market share the most relevant to most reimbursement negotiations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do not believe FSP or commercialization significantly strengthen a CRO's competitive advantage, as CROs add the most value with full outsourcing, where they can leverage intangible assets to shorten drug development times while producing quality work.",
    "output": "[Cause] CROs add the most value with full outsourcing, where they can leverage intangible assets to shorten drug development times while producing quality work [Relation] cause [Effect] We do not believe FSP or commercialization significantly strengthen a CRO's competitive advantage",
    "gold": "[Cause] CROs add the most value with full outsourcing, where they can leverage intangible assets to shorten drug development times while producing quality work [Relation] cause [Effect] We do not believe FSP or commercialization significantly strengthen a CRO's competitive advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, Cadence handles sensitive customer data and a breach could raise legal and regulatory hurdles and adversely affect the firm's reputation.",
    "output": "[Cause] Cadence handles sensitive customer data [Relation] cause [Effect] a breach could raise legal and regulatory hurdles and adversely affect the firm's reputation",
    "gold": "[Cause] Cadence handles sensitive customer data [Relation] cause [Effect] a breach could raise legal and regulatory hurdles and adversely affect the firm's reputation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "About a quarter of Maxim's revenue comes from analog chips used in consumer devices, which may lead to volatility.",
    "output": "[Cause] About a quarter of Maxim's revenue comes from analog chips used in consumer devices [Relation] cause [Effect] volatility",
    "gold": "[Cause] About a quarter of Maxim's revenue comes from analog chips used in consumer devices [Relation] cause [Effect]  volatility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Growth in emerging markets should help mitigate the patent losses in developed markets, as brand names are more important in emerging markets and give products a much longer lifecycle.",
    "output": "[Cause] Growth in emerging markets [Relation] enable [Effect] help mitigate the patent losses in developed markets",
    "gold": "[Cause] as brand names are more important in emerging markets and give products a much longer lifecycle [Relation] cause [Effect] Growth in emerging markets should help mitigate the patent losses in developed markets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Improving brand quality and pricing is only half the battle; we think Agco would need to improve its dealer network and aftermarket offering to keep customers from switching.",
    "output": "[Cause] Agco would need to improve its dealer network and aftermarket offering [Relation] enable [Effect] keep customers from switching",
    "gold": "[Cause] customers from switching [Relation] cause [Effect]  Agco would need to improve its dealer network and aftermarket offering",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Substantial debt reduction frees cash flow for product development and allows the company to better weather economic cycle lows like COVID-19.",
    "output": "[Cause] Substantial debt reduction [Relation] enable [Effect] the company to better weather economic cycle lows like COVID-19",
    "gold": "[Cause] Substantial debt reduction [Relation] enable [Effect]  the company to better weather economic cycle lows like COVID-19",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, as many large steel companies globally are vying for these same high-grade steel end markets, the company will continue struggling to generate excess returns, in our view.",
    "output": "[Cause] many large steel companies globally are vying for these same high-grade steel end markets [Relation] cause [Effect] the company will continue struggling to generate excess returns",
    "gold": "[Cause] many large steel companies globally are vying for these same high-grade steel end markets [Relation] cause [Effect] the company will continue struggling to generate excess returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Historically, Criteo and other ad-tech firms gained access to user behavior data via cookies, files on which such data is stored.",
    "output": "[Cause] cookies [Relation] enable [Effect] Criteo and other ad-tech firms gained access to user behavior data",
    "gold": "[Cause]  cookies [Relation] enable [Effect] Criteo and other ad-tech firms gained access to user behavior data",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given our projections for the sustainability of the export markets, this should remain a competitive advantage for Valero, as it enables the firm to capture higher margins and maintain high utilization levels.",
    "output": "[Cause] our projections for the sustainability of the export markets [Relation] cause [Effect] this should remain a competitive advantage for Valero",
    "gold": "[Cause]  it enables the firm to capture higher margins and maintain high utilization levels [Relation] enable [Effect] this should remain a competitive advantage for Valero",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given our projections for the sustainability of the export markets, this should remain a competitive advantage for Valero, as it enables the firm to capture higher margins and maintain high utilization levels.",
    "output": "[Cause] it enables the firm to capture higher margins and maintain high utilization levels [Relation] cause [Effect] this should remain a competitive advantage for Valero",
    "gold": "[Cause] our projections for the sustainability of the export markets [Relation] enable [Effect] this should remain a competitive advantage for Valero",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, while not historically a dominant asset manager among the Canadian banks, a series of acquisitions have improved the bank's standing here.",
    "output": "[Cause] a series of acquisitions [Relation] enable [Effect] improved the bank's standing here",
    "gold": "[Cause] a series of acquisitions [Relation] enable [Effect] improved the bank's standing here",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lastly, the early lead and substantial market share led to a wide variety of developers joining the ecosystem bringing in applications, middleware, and development tools.",
    "output": "[Cause] the early lead and substantial market share [Relation] cause [Effect] a wide variety of developers joining the ecosystem bringing in applications, middleware, and development tools",
    "gold": "[Cause] the early lead and substantial market share [Relation] cause [Effect] a wide variety of developers joining the ecosystem bringing in applications, middleware, and development tools",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Constellation's foray into explosive-growth categories like hard seltzer may also require nontrivial investment, given the competitive intensity and brand equity already built up by the incumbents.",
    "output": "[Cause] the competitive intensity and brand equity already built up by the incumbents [Relation] cause [Effect] Constellation's foray into explosive-growth categories like hard seltzer may also require nontrivial investment",
    "gold": "[Cause]  the competitive intensity and brand equity already built up by the incumbents [Relation] cause [Effect] Constellation's foray into explosive-growth categories like hard seltzer may also require nontrivial investment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, the bank's efficiency ratio is still somewhat behind its moatier peers, which tend to be consistently in the mid-50s, with some now even approaching the low-50s. This is partially due to structural reasons, including that the bank has a low deposit market share in all but one of its top markets.",
    "output": "[Cause] structural reasons, including that the bank has a low deposit market share in all but one of its top markets [Relation] cause [Effect] the bank's efficiency ratio is still somewhat behind its moatier peers, which tend to be consistently in the mid-50s, with some now even approaching the low-50s",
    "gold": "[Cause] structural reasons, including that the bank has a low deposit market share in all but one of its top markets [Relation] cause [Effect]  the bank's efficiency ratio is still somewhat behind its moatier peers, which tend to be consistently in the mid-50s, with some now even approaching the low-50s",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Currently robust airfreight activity may ease in second half 2021, but longer term we expect Expeditors to continue gradually taking market share from less capable third-party logistics providers (on average over the cycle) as demand for sophisticated supply chain technology and access to reliable capacity expands.",
    "output": "[Cause] demand for sophisticated supply chain technology and access to reliable capacity expands [Relation] cause [Effect] longer term we expect Expeditors to continue gradually taking market share from less capable third-party logistics providers (on average over the cycle)",
    "gold": "[Cause] demand for sophisticated supply chain technology and access to reliable capacity expands [Relation] cause [Effect] longer term we expect Expeditors to continue gradually taking market share from less capable third-party logistics providers (on average over the cycle)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that the bulk of mortgages are agency compliant, using TransUnion (along with Equifax and Experian) is essentially a requirement for a mortgage lender.",
    "output": "[Cause] the bulk of mortgages are agency compliant [Relation] cause [Effect] using TransUnion (along with Equifax and Experian) is essentially a requirement for a mortgage lender",
    "gold": "[Cause] the bulk of mortgages are agency compliant [Relation] cause [Effect] using TransUnion (along with Equifax and Experian) is essentially a requirement for a mortgage lender",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Payers may become increasingly unwilling to pay the six-figure price tags associated with such therapies as these markets become more competitive.",
    "output": "[Cause] these markets become more competitive [Relation] cause [Effect] Payers may become increasingly unwilling to pay the six-figure price tags associated with such therapies",
    "gold": "[Cause] these markets become more competitive [Relation] cause [Effect] Payers may become increasingly unwilling to pay the six-figure price tags associated with such therapies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Harley has historically generated returns on invested capital above our estimated weighted average cost of capital (7%); however, HDFS had a disparate impact in 2008, depressing ROICs, as it had become a more relevant part of the business and delinquencies were higher than usual.",
    "output": "[Cause] it had become a more relevant part of the business and delinquencies were higher than usual [Relation] cause [Effect] HDFS had a disparate impact in 2008, depressing ROICs",
    "gold": "[Cause] it had become a more relevant part of the business and delinquencies were higher than usual [Relation] cause [Effect] HDFS had a disparate impact in 2008, depressing ROICs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the firm's experience with another nucleotide analog, tenofovir, a key ingredient in all of Gilead's HIV combination regimens, probably contributed to its recognition of Sovaldi's value at an early stage in its development.",
    "output": "[Cause] the firm's experience with another nucleotide analog, tenofovir, a key ingredient in all of Gilead's HIV combination regimens [Relation] enable [Effect] its recognition of Sovaldi's value at an early stage in its development",
    "gold": "[Cause] the firm's experience with another nucleotide analog, tenofovir, a key ingredient in all of Gilead's HIV combination regimens [Relation] enable [Effect] its recognition of Sovaldi's value at an early stage in its development",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the two strategies complement each other well, Tilray will face stiff competition to develop consumer brands that can lead to meaningful pricing power.",
    "output": "[Cause] Tilray will face stiff competition to develop consumer brands [Relation] enable [Effect] meaningful pricing power",
    "gold": "[Cause] Tilray will face stiff competition to develop consumer brands [Relation] cause [Effect] meaningful pricing power",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Climate concerns could also trigger regulatory interventions, such as production limits, removal of existing infrastructure, and perhaps even direct taxes on carbon emissions, which already exists in Canada.",
    "output": "[Cause] Climate concerns [Relation] cause [Effect] regulatory interventions",
    "gold": "[Cause] Climate concerns [Relation] cause [Effect] regulatory interventions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In response to the rampant cost inflation in cheese, meat, and coffee a few years ago, Kraft raised prices but was unable to fully offset the profit hit, given the lag in the benefit.",
    "output": "[Cause] the lag in the benefit [Relation] cause [Effect] unable to fully offset the profit hit",
    "gold": "[Cause] Kraft raised prices [Relation] prevent [Effect]  fully offset the profit hit, given the lag in the benefit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nordstrom's full-price, full-line stores generated $10 billion in 2019 sales, making the company one of the largest upscale fashion retailers in the U.S.",
    "output": "[Cause] Nordstrom's full-price, full-line stores generated $10 billion in 2019 sales [Relation] enable [Effect] the company one of the largest upscale fashion retailers in the U.S",
    "gold": "[Cause] Nordstrom's full-price, full-line stores generated $10 billion in 2019 sales [Relation] cause [Effect]  the company one of the largest upscale fashion retailers in the U.S",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The addition of Alterra and the larger exposure to reinsurance activity increased underwriting risk, in our view, as reinsurance is a fundamentally more volatile activity than primary insurance.",
    "output": "[Cause] reinsurance is a fundamentally more volatile activity than primary insurance [Relation] cause [Effect] The addition of Alterra and the larger exposure to reinsurance activity increased underwriting risk",
    "gold": "[Cause] reinsurance is a fundamentally more volatile activity than primary insurance [Relation] cause [Effect] The addition of Alterra and the larger exposure to reinsurance activity increased underwriting risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "LPL's strong market position, best-in-class payout, and advisor resources contribute to its meaningful switching costs, which should allow LPL to generate excess returns to shareholders over the next decade.",
    "output": "[Cause] LPL's strong market position, best-in-class payout, and advisor resources [Relation] enable [Effect] its meaningful switching costs",
    "gold": "[Cause] LPL's strong market position, best-in-class payout, and advisor resources [Relation] cause [Effect]  its meaningful switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "KeyCorp is large enough to be subject to the Federal Reserve's stress tests because it has more than $100 billion in assets, but it only has to go through the full process every two years.",
    "output": "[Cause] it has more than $100 billion in assets [Relation] cause [Effect] KeyCorp is large enough to be subject to the Federal Reserve's stress tests",
    "gold": "[Cause] it has more than $100 billion in assets [Relation] cause [Effect] KeyCorp is large enough to be subject to the Federal Reserve's stress tests",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect that M&T's asset sensitivity will work against the bank in a period of declining rates, and have baked this in as we expect rates to remain low for years.",
    "output": "[Cause] we expect rates to remain low for years [Relation] cause [Effect] M&T's asset sensitivity will work against the bank in a period of declining rates",
    "gold": "[Cause] we expect rates to remain low for years [Relation] cause [Effect] M&T's asset sensitivity will work against the bank in a period of declining rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Valvoline to make small acquisitions, though we do not incorporate such deals into our analysis, given their uncertain nature.",
    "output": "[Cause] their uncertain nature [Relation] cause [Effect] we do not incorporate such deals into our analysis",
    "gold": "[Cause] their uncertain nature [Relation] cause [Effect] we do not incorporate such deals into our analysis",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that contractors will be able to continue growing despite a slowing macro environment due to sizable backlogs and the national defense strategy's increased focus on modernization, and we think that defense budget growth is likely to return to its long-term trend.",
    "output": "[Cause] sizable backlogs and the national defense strategy's increased focus on modernization [Relation] cause [Effect] contractors will be able to continue growing",
    "gold": "[Cause] sizable backlogs and the national defense strategy's increased focus on modernization [Relation] cause [Effect] defense budget growth is likely to return to its long-term trend",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the longer term, we believe Myriad's proprietary database in hereditary cancer will allow it to hold on to its current market share but the firm will inevitably face more competition and reimbursement pressures.",
    "output": "[Cause] Myriad's proprietary database in hereditary cancer [Relation] enable [Effect] it to hold on to its current market share but the firm will inevitably face more competition and reimbursement pressures",
    "gold": "[Cause] Myriad's proprietary database in hereditary cancer [Relation] enable [Effect] it to hold on to its current market share but the firm will inevitably face more competition and reimbursement pressures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, margin expansion efforts could hamper its ability to win new customers and support existing clients, which can drive uncertainty in Okta's ability to continue strong revenue expansion throughout the 2020s.",
    "output": "[Cause] margin expansion efforts could hamper its ability to win new customers and support existing clients [Relation] cause [Effect] drive uncertainty in Okta's ability to continue strong revenue expansion throughout the 2020s",
    "gold": "[Cause]  margin expansion efforts could hamper its ability to win new customers and support existing clients [Relation] enable [Effect] drive uncertainty in Okta's ability to continue strong revenue expansion throughout the 2020s",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "They would also likely have to run duplicate payroll and HCM solutions given their mission criticality, giving rise to high monetary costs.",
    "output": "[Cause] their mission criticality [Relation] cause [Effect] They would also likely have to run duplicate payroll and HCM solutions",
    "gold": "[Cause] They would also likely have to run duplicate payroll and HCM solutions [Relation] cause [Effect]  high monetary costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "They would also likely have to run duplicate payroll and HCM solutions given their mission criticality, giving rise to high monetary costs.",
    "output": "[Cause] their mission criticality [Relation] cause [Effect] high monetary costs",
    "gold": "[Cause]  their mission criticality [Relation] cause [Effect] They would also likely have to run duplicate payroll and HCM solutions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "All the specialty products within its mix use baking soda as the main ingredient (for animal feed, industrial baking, and industrial cleaning), which provides a raw material sourcing advantage for the firm.",
    "output": "[Cause] All the specialty products within its mix use baking soda as the main ingredient (for animal feed, industrial baking, and industrial cleaning) [Relation] enable [Effect] provides a raw material sourcing advantage for the firm",
    "gold": "[Cause] the main ingredient (for animal feed, industrial baking, and industrial cleaning) [Relation] cause [Effect] All the specialty products within its mix use baking soda",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For example, in precision medicine, Qiagen is working with about 25 biopharmaceutical companies to develop companion diagnostics to identify appropriate therapeutic options for patients.",
    "output": "[Cause] Qiagen is working with about 25 biopharmaceutical companies to develop companion diagnostics [Relation] enable [Effect] identify appropriate therapeutic options for patients",
    "gold": "[Cause] Qiagen is working with about 25 biopharmaceutical companies to develop companion diagnostics [Relation] enable [Effect] identify appropriate therapeutic options for patients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, Moody's will be able to respond to soft issuance with higher pricing and continued penetration by providing ratings to first-time or newer issuers.",
    "output": "[Cause] providing ratings to first-time or newer issuers [Relation] enable [Effect] Moody's will be able to respond to soft issuance with higher pricing and continued penetration",
    "gold": "[Cause]  providing ratings to first-time or newer issuers [Relation] enable [Effect] Moody's will be able to respond to soft issuance with higher pricing and continued penetration",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "They also spend a lot of time and capital to safeguard against data breaches, which can cause service disruptions, trigger lawsuits and forensic investigations, incur expenses related to repairing or removing threats from data systems, damage reputations, and shake customer confidence.",
    "output": "[Cause] They also spend a lot of time and capital to safeguard against data breaches [Relation] cause [Effect] service disruptions, trigger lawsuits and forensic investigations, incur expenses related to repairing or removing threats from data systems, damage reputations, and shake customer confidence",
    "gold": "[Cause] They also spend a lot of time and capital to safeguard against data breaches [Relation] cause [Effect] service disruptions, trigger lawsuits and forensic investigations, incur expenses related to repairing or removing threats from data systems, damage reputations, and shake customer confidence",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Considering the tremendous cost of failure in such applications (including unscheduled downtime and safety considerations), customers are less likely to aggressively pursue cost savings by switching to a cheaper but less proven alternative.",
    "output": "[Cause] the tremendous cost of failure in such applications (including unscheduled downtime and safety considerations) [Relation] cause [Effect] customers are less likely to aggressively pursue cost savings by switching to a cheaper but less proven alternative",
    "gold": "[Cause] the tremendous cost of failure in such applications (including unscheduled downtime and safety considerations) [Relation] cause [Effect] customers are less likely to aggressively pursue cost savings by switching to a cheaper but less proven alternative",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because it offers a full suite of sterilization solutions, from the sale of individual sterilizers to full outsourcing, Steris benefits regardless of how hospitals choose to manage sterilization.",
    "output": "[Cause] it offers a full suite of sterilization solutions, from the sale of individual sterilizers to full outsourcing [Relation] cause [Effect] Steris benefits regardless of how hospitals choose to manage sterilization",
    "gold": "[Cause]  it offers a full suite of sterilization solutions, from the sale of individual sterilizers to full outsourcing [Relation] cause [Effect] Steris benefits regardless of how hospitals choose to manage sterilization",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the United States, we think states in the West and Northwest will produce at a lower cost through outdoor cultivation, compared with states that need to use higher cost greenhouse or indoor cultivation due to climate.",
    "output": "[Cause] climate [Relation] cause [Effect] states in the West and Northwest will produce at a lower cost through outdoor cultivation",
    "gold": "[Cause]  outdoor cultivation [Relation] enable [Effect]  in the West and Northwest will produce at a lower cost",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This structure allows the company to expand its brand reach with minimal corresponding capital needs while providing an annuitylike stream of rent and royalties, even during challenging economic times. As a result, McDonald's currently generates returns on invested capital (excluding goodwill) in the high teens, with our model forecasting growth to the low 20s over the next five years.",
    "output": "[Cause] This structure allows the company to expand its brand reach with minimal corresponding capital needs while providing an annuitylike stream of rent and royalties, even during challenging economic times [Relation] cause [Effect] McDonald's currently generates returns on invested capital (excluding goodwill) in the high teens, with our model forecasting growth to the low 20s over the next five years",
    "gold": "[Cause] This structure allows the company to expand its brand reach with minimal corresponding capital needs while providing an annuitylike stream of rent and royalties, even during challenging economic times [Relation] cause [Effect]  McDonald's currently generates returns on invested capital (excluding goodwill) in the high teens, with our model forecasting growth to the low 20s over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This integrated offering leverages domain expertise in seamless technology, differentiates Veeva from the limited competition, and, in our view, should generate strong ROICs for the next 20 years.",
    "output": "[Cause] This integrated offering leverages domain expertise in seamless technology [Relation] enable [Effect] differentiates Veeva from the limited competition",
    "gold": "[Cause] This integrated offering leverages domain expertise in seamless technology [Relation] enable [Effect] differentiates Veeva from the limited competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In terms of operating margins, we expect about 200 basis points of improvement from 2019 (an investment year) to about 15% by 2024, as the firm benefits from recent investments and wrings out some efficiencies.",
    "output": "[Cause] the firm benefits from recent investments and wrings out some efficiencies [Relation] cause [Effect] about 200 basis points of improvement from 2019 (an investment year) to about 15% by 2024",
    "gold": "[Cause] the firm benefits from recent investments [Relation] cause [Effect] wrings out some efficiencies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think Vans has strong potential as it is still relatively small (approximately $3.5 billion in fiscal 2021 revenue) compared with global brands like Nike (about 10 times larger).",
    "output": "[Cause] it is still relatively small (approximately $3.5 billion in fiscal 2021 revenue) compared with global brands like Nike (about 10 times larger) [Relation] cause [Effect] Vans has strong potential",
    "gold": "[Cause]  it is still relatively small (approximately $3.5 billion in fiscal 2021 revenue) compared with global brands like Nike (about 10 times larger) [Relation] cause [Effect] Vans has strong potential",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, because many small drug firms lack a distribution channel, Bristol's entrenched salesforce enables the company to partner with these smaller drug companies to gain access to externally created drugs, augmenting its internal drug-development efforts.",
    "output": "[Cause] Bristol's entrenched salesforce [Relation] enable [Effect] the company to partner with these smaller drug companies to gain access to externally created drugs",
    "gold": "[Cause] Bristol's entrenched salesforce enables the company to partner with these smaller drug companies [Relation] cause [Effect] gain access to externally created drugs, augmenting its internal drug-development efforts",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With the preponderance of the firm's market share situated in beer categories that drive increasingly less turnover, cash conversion, and ultimately profits for both distributors and retailers, we believe its relationships further down the supply chain are far less important as it relates to generating excess profits.",
    "output": "[Cause] the preponderance of the firm's market share situated in beer categories [Relation] cause [Effect] increasingly less turnover, cash conversion, and ultimately profits for both distributors and retailers",
    "gold": "[Cause]  the preponderance of the firm's market share situated in beer categories [Relation] cause [Effect]  increasingly less turnover, cash conversion, and ultimately profits for both distributors and retailers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the preponderance of the firm's market share situated in beer categories that drive increasingly less turnover, cash conversion, and ultimately profits for both distributors and retailers, we believe its relationships further down the supply chain are far less important as it relates to generating excess profits.",
    "output": "[Cause] it relates to generating excess profits [Relation] cause [Effect] its relationships further down the supply chain are far less important",
    "gold": "[Cause]  it relates to generating excess profits [Relation] cause [Effect]  its relationships further down the supply chain are far less important",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, truckload capacity has since tightened drastically, contract pricing is on the rise across all modes, and underlying intermodal demand is rebounding sharply on the spike in retail goods consumption (intermodal cargo is mostly consumer goods) and heavy retailer restocking.",
    "output": "[Cause] the spike in retail goods consumption (intermodal cargo is mostly consumer goods) and heavy retailer restocking [Relation] cause [Effect] underlying intermodal demand is rebounding sharply",
    "gold": "[Cause] the spike in retail goods consumption (intermodal cargo is mostly consumer goods) and heavy retailer restocking [Relation] cause [Effect] underlying intermodal demand is rebounding sharply",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, the firm's adjusted OR (expenses/revenue) improved an impressive 240 basis points to 58.5% in 2020--an annual record--with significant help from PSR-related efficiency gains, and despite volatile demand.",
    "output": "[Cause] significant help from PSR-related efficiency gains, and despite volatile demand [Relation] enable [Effect] the firm's adjusted OR (expenses/revenue) improved an impressive 240 basis points to 58.5% in 2020--an annual record",
    "gold": "[Cause] the firm's adjusted OR [Relation] enable [Effect] an impressive 240 basis points to 58.5% in 2020--an annual record",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With the acquisitions of Conexant and Marvell's multimedia solutions unit, Synaptics substantially strengthened its position within the Internet of Things market.",
    "output": "[Cause] the acquisitions of Conexant and Marvell's multimedia solutions unit [Relation] enable [Effect] Synaptics substantially strengthened its position within the Internet of Things market",
    "gold": "[Cause] the acquisitions of Conexant and Marvell's multimedia solutions unit [Relation] enable [Effect] Synaptics substantially strengthened its position within the Internet of Things market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, Goderich is located on a deep-water port on Lake Huron, giving Compass easy water-based access to the snowy markets near the Great Lakes.",
    "output": "[Cause] Goderich is located on a deep-water port on Lake Huron [Relation] enable [Effect] Compass easy water-based access to the snowy markets near the Great Lakes",
    "gold": "[Cause] Goderich is located on a deep-water port on Lake Huron [Relation] cause [Effect] Compass easy water-based access to the snowy markets near the Great Lakes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To appease customers who do not want to purchase Arista hardware, the company does offer software-only products in cEOS for containerized networks on white boxes and vEOS for virtual networks running on x86 servers.",
    "output": "[Cause] the company does offer software-only products in cEOS for containerized networks on white boxes and vEOS for virtual networks running on x86 servers [Relation] enable [Effect] appease customers who do not want to purchase Arista hardware",
    "gold": "[Cause] the company does offer software-only products in cEOS for containerized networks on white boxes and vEOS for virtual networks running on x86 servers [Relation] enable [Effect] appease customers who do not want to purchase Arista hardware",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Already swift data proliferation is only accelerating as organizations further interconnect disparate systems across on-premises, private clouds, public clouds, edge locations, and personnel and devices.",
    "output": "[Cause] organizations further interconnect disparate systems across on-premises, private clouds, public clouds, edge locations, and personnel and devices [Relation] cause [Effect] Already swift data proliferation is only accelerating",
    "gold": "[Cause] organizations further interconnect disparate systems across on-premises, private clouds, public clouds, edge locations, and personnel and devices [Relation] cause [Effect] Already swift data proliferation is only accelerating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "THC operations, its acquisition of Manitoba Harvest and agreement with Authentic Brands Group for consumer CBD products gives it some limited exposure.",
    "output": "[Cause] THC operations, its acquisition of Manitoba Harvest and agreement with Authentic Brands Group for consumer CBD products [Relation] cause [Effect] some limited exposure",
    "gold": "[Cause] THC operations, its acquisition of Manitoba Harvest and agreement with Authentic Brands Group for consumer CBD products [Relation] enable [Effect] some limited exposure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nvidia's intangible assets originate with its popularization of GPUs in 1999, which could off-load graphics processing tasks from the CPU, thereby increasing the overall performance of the system.",
    "output": "[Cause] off-load graphics processing tasks from the CPU [Relation] cause [Effect] increasing the overall performance of the system",
    "gold": "[Cause] off-load graphics processing tasks from the CPU [Relation] enable [Effect]  increasing the overall performance of the system",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, expansion within emerging biotechnology companies that do not have the capacity or experience to run clinical trials by themselves demonstrates that outsourcing will continue to increase.",
    "output": "[Cause] expansion within emerging biotechnology companies that do not have the capacity or experience to run clinical trials by themselves [Relation] cause [Effect] outsourcing will continue to increase",
    "gold": "[Cause] expansion within emerging biotechnology companies that do not have the capacity or experience to run clinical trials by themselves [Relation] cause [Effect] outsourcing will continue to increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our base-case scenario assumes that the bank's efficiency ratio eventually declines to 53% as management exercises discipline on costs and continues to make technological gains.",
    "output": "[Cause] management exercises discipline on costs and continues to make technological gains [Relation] cause [Effect] the bank's efficiency ratio eventually declines to 53%",
    "gold": "[Cause] management exercises discipline on costs and continues to make technological gains [Relation] cause [Effect] the bank's efficiency ratio eventually declines to 53%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect sales to normalize as the pandemic is lapped and increasing vaccine availability brings the crisis to a close in mid-2021.",
    "output": "[Cause] the pandemic is lapped and increasing vaccine availability brings the crisis to a close in mid-2021 [Relation] cause [Effect] sales to normalize",
    "gold": "[Cause]  the pandemic is lapped and increasing vaccine availability brings the crisis to a close in mid-2021 [Relation] cause [Effect] sales to normalize",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "UCaaS also provides the benefit of lowering the total cost of ownership by reducing the overhead requirements related to hosting/infrastructure and by converting capital expenditures to operating expenses.",
    "output": "[Cause] reducing the overhead requirements related to hosting/infrastructure and by converting capital expenditures to operating expenses [Relation] enable [Effect] UCaaS also provides the benefit of lowering the total cost of ownership",
    "gold": "[Cause]  reducing the overhead requirements related to hosting/infrastructure and by converting capital expenditures to operating expenses [Relation] cause [Effect] UCaaS also provides the benefit of lowering the total cost of ownership",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because retail demand is highly sensitive to the economic environment, we recommend investors seek a relatively wide margin of safety before buying this cyclical name.",
    "output": "[Cause] retail demand is highly sensitive to the economic environment [Relation] cause [Effect] we recommend investors seek a relatively wide margin of safety before buying this cyclical name",
    "gold": "[Cause] retail demand is highly sensitive to the economic environment [Relation] cause [Effect] we recommend investors seek a relatively wide margin of safety before buying this cyclical name",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Carrier's track record of dependability and innovation (for example, product digitization) and its significant field business (installation, maintenance, and monitoring) are reasons commercial customers choose Carrier for their fire and security needs.",
    "output": "[Cause] Carrier's track record of dependability and innovation (for example, product digitization) and its significant field business (installation, maintenance, and monitoring) [Relation] cause [Effect] commercial customers choose Carrier for their fire and security needs",
    "gold": "[Cause] Carrier's track record of dependability and innovation (for example, product digitization) and its significant field business (installation, maintenance, and monitoring) [Relation] cause [Effect] commercial customers choose Carrier for their fire and security needs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Spectrometers are an important product category in this business, and sales should rise given the need to test different metals, while water treatment equipment should be used to test pH for effective and efficient water treatment processes.",
    "output": "[Cause] the need to test different metals [Relation] cause [Effect] sales should rise",
    "gold": "[Cause] Spectrometers are an important product category in this business, and sales should rise given the need to test different metals, [Relation] enable [Effect] water treatment equipment should be used to test pH for effective and efficient water treatment processes.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, the potential for other equipment segments (such as lithography, etch, deposition, and so on) to incorporate process control techniques into their tools (in situ) could reduce demand for KLA's specialized PDC equipment.",
    "output": "[Cause] the potential for other equipment segments (such as lithography, etch, deposition, and so on) to incorporate process control techniques into their tools (in situ) [Relation] enable [Effect] reduce demand for KLA's specialized PDC equipment",
    "gold": "[Cause] the potential for other equipment segments (such as lithography, etch, deposition, and so on) to incorporate process control techniques into their tools (in situ) [Relation] cause [Effect]  reduce demand for KLA's specialized PDC equipment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "VeriSign's current agreement with ICANN for .com runs through November 2024 and, barring some unforeseen service issue (VeriSign has never experienced an interruption), the contract should be renewed through November 2030.",
    "output": "[Cause] VeriSign's current agreement with ICANN for.com runs through November 2024 [Relation] cause [Effect] the contract should be renewed through November 2030",
    "gold": "[Cause] VeriSign has never experienced an interruption [Relation] cause [Effect]  the contract should be renewed through November 2030",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Along these lines, Echo's migration to large, price-committed customers over the past five years is a double-edged sword--these shippers provide a greater degree of sticky, scheduled freight, but they also boost gross margin risk.",
    "output": "[Cause] Echo's migration to large, price-committed customers over the past five years [Relation] cause [Effect] a double-edged sword",
    "gold": "[Cause] these shippers provide a greater degree of sticky, scheduled freight, but they also boost gross margin risk [Relation] cause [Effect] Echo's migration to large, price-committed customers over the past five years is a double-edged sword",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In this scenario, we assume Lloyds' banking net interest margin declines marginally in the short term as pricing pressures in mortgages persist and interest rates remain close to zero.",
    "output": "[Cause] pricing pressures in mortgages persist and interest rates remain close to zero [Relation] cause [Effect] Lloyds' banking net interest margin declines marginally in the short term",
    "gold": "[Cause]  pricing pressures in mortgages persist and interest rates remain close to zero [Relation] cause [Effect]  Lloyds' banking net interest margin declines marginally in the short term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that cybersecurity threats will perpetually increase, while becoming further sophisticated, as more data is created and dispersed away from centralized data centers.",
    "output": "[Cause] more data is created and dispersed away from centralized data centers [Relation] cause [Effect] cybersecurity threats will perpetually increase, while becoming further sophisticated",
    "gold": "[Cause] more data is created and dispersed away from centralized data centers [Relation] cause [Effect] cybersecurity threats will perpetually increase, while becoming further sophisticated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, legislation changes affecting emission standards could affect TC Energy's ability to develop new pipeline projects, as evidenced by the hurdles that remain with the Keystone XL expansion project.",
    "output": "[Cause] legislation changes affecting emission standards [Relation] prevent [Effect] TC Energy's ability to develop new pipeline projects",
    "gold": "[Cause]  legislation changes affecting emission standards [Relation] prevent [Effect] remain with the Keystone XL expansion project",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We assume the risk from COVID-19 proves transitory over time, like prior viral events, but believe the consumer recovery could take longer given the global nature of this particular event.",
    "output": "[Cause] the global nature of this particular event [Relation] cause [Effect] the consumer recovery could take longer",
    "gold": "[Cause] the global nature of this particular event [Relation] cause [Effect]  the consumer recovery could take longer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The bank is one of the top issuers of credit cards, where many of the costs of running a payment platform are fixed and high in nature, leading to the need for scale.",
    "output": "[Cause] many of the costs of running a payment platform are fixed and high in nature [Relation] cause [Effect] the need for scale",
    "gold": "[Cause] many of the costs of running a payment platform are fixed and high in nature [Relation] cause [Effect] the need for scale",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But we do expect a lasting benefit for General Mills' pet food business, given the high-single-digit increase in pet adoptions during the crisis.",
    "output": "[Cause] the high-single-digit increase in pet adoptions during the crisis [Relation] cause [Effect] a lasting benefit for General Mills' pet food business",
    "gold": "[Cause] the high-single-digit increase in pet adoptions during the crisis [Relation] enable [Effect] a lasting benefit for General Mills' pet food business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This disruption could lead to employee frustration if paychecks are delayed or if there are delays to benefits administration, and in severe cases, employees could quit the firm.",
    "output": "[Cause] paychecks are delayed or if there are delays to benefits administration [Relation] cause [Effect] This disruption could lead to employee frustration",
    "gold": "[Cause] paychecks are delayed or if there are delays to benefits administration [Relation] cause [Effect] This disruption could lead to employee frustration",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This disruption could lead to employee frustration if paychecks are delayed or if there are delays to benefits administration, and in severe cases, employees could quit the firm.",
    "output": "[Cause] paychecks are delayed or if there are delays to benefits administration [Relation] cause [Effect] This disruption could lead to employee frustration",
    "gold": "[Cause] paychecks are delayed or if there are delays to benefits administration [Relation] cause [Effect] employees could quit the firm",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The increase will be powered by the continued adoption of mobile data plans, smartphones, and slightly increased penetration against the growing base of LTE/5G subscribers.",
    "output": "[Cause] the continued adoption of mobile data plans, smartphones, and slightly increased penetration against the growing base of LTE/5G subscribers [Relation] cause [Effect] The increase",
    "gold": "[Cause] the continued adoption of mobile data plans, smartphones, and slightly increased penetration against the growing base of LTE/5G subscribers [Relation] cause [Effect] The increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A shift from wine to water in Southern Europe has weighed on segment margins recently but is largely played out.",
    "output": "[Cause] A shift from wine to water in Southern Europe [Relation] cause [Effect] weighed on segment margins recently",
    "gold": "[Cause] A shift from wine to water in Southern Europe [Relation] cause [Effect] weighed on segment margins recently",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In this environment, where sales volumes contracted significantly and effective capacity utilisation thus plunged to near 50% in 2011, maximising volume to spread fixed costs becomes a focus, as opposed to chasing higher pricing to expand gross margins.",
    "output": "[Cause] sales volumes contracted significantly [Relation] cause [Effect] effective capacity utilisation thus plunged to near 50% in 2011",
    "gold": "[Cause] sales volumes contracted significantly [Relation] cause [Effect] effective capacity utilisation thus plunged to near 50% in 2011",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In this environment, where sales volumes contracted significantly and effective capacity utilisation thus plunged to near 50% in 2011, maximising volume to spread fixed costs becomes a focus, as opposed to chasing higher pricing to expand gross margins.",
    "output": "[Cause] effective capacity utilisation thus plunged to near 50% in 2011 [Relation] cause [Effect] maximising volume to spread fixed costs becomes a focus",
    "gold": "[Cause] effective capacity utilisation thus plunged to near 50% in 2011 [Relation] cause [Effect] maximising volume to spread fixed costs becomes a focus",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm has demonstrated consistent operating margin expansion through cost controls during the past four years, which we expect to continue after the pandemic through the next few years, highlighting the success of IPG's turnaround, which began more than 10 years ago.",
    "output": "[Cause] cost controls during the past four years [Relation] enable [Effect] consistent operating margin expansion",
    "gold": "[Cause] cost controls during the past four years [Relation] enable [Effect] consistent operating margin expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our uncertainty rating is medium and reflects the fundamental risk faced by Broadcom as a result of cyclicality, customer concentration, and the firm's tendency to make large M&A deals that may or may not be successful.",
    "output": "[Cause] cyclicality, customer concentration, and the firm's tendency to make large M&A deals that may or may not be successful [Relation] cause [Effect] Our uncertainty rating is medium and reflects the fundamental risk faced by Broadcom",
    "gold": "[Cause] cyclicality, customer concentration, and the firm's tendency to make large M&A deals that may or may not be successful [Relation] cause [Effect] Our uncertainty rating is medium and reflects the fundamental risk faced by Broadcom",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This sort of local scale advantage allows for much greater negotiating leverage versus other healthcare suppliers, particularly service providers, than smaller insurers in each market.",
    "output": "[Cause] This sort of local scale advantage [Relation] enable [Effect] much greater negotiating leverage versus other healthcare suppliers, particularly service providers, than smaller insurers in each market",
    "gold": "[Cause] This sort of local scale advantage [Relation] enable [Effect] much greater negotiating leverage versus other healthcare suppliers, particularly service providers, than smaller insurers in each market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Asbury's performance in used vehicles could fall behind other dealers if those other firms are successful in used with stand-alone used-vehicle stores.",
    "output": "[Cause] those other firms are successful in used with stand-alone used-vehicle stores [Relation] cause [Effect] Asbury's performance in used vehicles could fall behind other dealers",
    "gold": "[Cause]  those other firms are successful in used with stand-alone used-vehicle stores [Relation] enable [Effect] Asbury's performance in used vehicles could fall behind other dealers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Revenue fell 10% in 2020 on fewer carloads, falling fuel surcharges, and mix headwinds, but core pricing remained positive and top-line declines moderated throughout the second half.",
    "output": "[Cause] fewer carloads, falling fuel surcharges, and mix headwinds [Relation] cause [Effect] Revenue fell 10% in 2020",
    "gold": "[Cause] fewer carloads, falling fuel surcharges, and mix headwinds [Relation] cause [Effect] Revenue fell 10% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, Hub has constructed intermodal and truck brokerage networks of sufficient scale to be attractive to customers (shippers) and suppliers, both of which benefit from using a larger intermediary.",
    "output": "[Cause] using a larger intermediary [Relation] enable [Effect] Hub has constructed intermodal and truck brokerage networks of sufficient scale to be attractive to customers (shippers) and suppliers",
    "gold": "[Cause]  using a larger intermediary [Relation] enable [Effect]  Hub has constructed intermodal and truck brokerage networks of sufficient scale to be attractive to customers (shippers) and suppliers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Twilio's product becomes increasingly entrenched within these applications, it can be a laborious and expensive process to substitute it for a different vendor.",
    "output": "[Cause] Twilio's product becomes increasingly entrenched within these applications [Relation] cause [Effect] it can be a laborious and expensive process to substitute it for a different vendor",
    "gold": "[Cause] Twilio's product becomes increasingly entrenched within these applications [Relation] cause [Effect] it can be a laborious and expensive process to substitute it for a different vendor",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Henry Schein is a major supplier to dental and medical practices, but the evolving dental competitive landscape continues to pose headwinds to top-line growth and profitability.",
    "output": "[Cause] the evolving dental competitive landscape [Relation] prevent [Effect] top-line growth and profitability",
    "gold": "[Cause] the evolving dental competitive landscape [Relation] prevent [Effect] top-line growth and profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Baxter's appetite for acquisitions appears to be increasing, which creates some uncertainty around its ROIC trajectory and could add financial leverage to its balance sheet.",
    "output": "[Cause] Baxter's appetite for acquisitions appears to be increasing [Relation] cause [Effect] creates some uncertainty around its ROIC trajectory",
    "gold": "[Cause] Baxter's appetite for acquisitions appears to be increasing [Relation] cause [Effect] creates some uncertainty around its ROIC trajectory",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Baxter's appetite for acquisitions appears to be increasing, which creates some uncertainty around its ROIC trajectory and could add financial leverage to its balance sheet.",
    "output": "[Cause] Baxter's appetite for acquisitions appears to be increasing [Relation] cause [Effect] add financial leverage to its balance sheet",
    "gold": "[Cause] Baxter's appetite for acquisitions appears to be increasing [Relation] enable [Effect] add financial leverage to its balance sheet",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the global distribution network can also make AMG a more appealing partner for future affiliates, setting up a virtuous circle that the company can exploit to its advantage in the long run.",
    "output": "[Cause] the global distribution network [Relation] enable [Effect] AMG a more appealing partner for future affiliates",
    "gold": "[Cause] make AMG a more appealing partner for future affiliates [Relation] enable [Effect] setting up a virtuous circle",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think the global distribution network can also make AMG a more appealing partner for future affiliates, setting up a virtuous circle that the company can exploit to its advantage in the long run.",
    "output": "[Cause] the global distribution network [Relation] enable [Effect] setting up a virtuous circle that the company can exploit to its advantage in the long run",
    "gold": "[Cause] setting up a virtuous circle [Relation] enable [Effect] company can exploit to its advantage in the long run",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, we don't believe the company is insulated from the proliferation of e-commerce peers such as Wayfair pushing harder into the home furnishing space, bounding further potential in profit gains.",
    "output": "[Cause] the company is insulated from the proliferation of e-commerce peers such as Wayfair pushing harder into the home furnishing space [Relation] prevent [Effect] further potential in profit gains",
    "gold": "[Cause]  Wayfair pushing harder into the home furnishing space, bounding further potential in profit gains [Relation] cause [Effect] the company is insulated from the proliferation of e-commerce peers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think that aeronautics and space systems will be two of the biggest growth drivers for the firm, as the company develops the B-21 bomber and the ground-based strategic deterrent.",
    "output": "[Cause] the company develops the B-21 bomber and the ground-based strategic deterrent [Relation] cause [Effect] aeronautics and space systems will be two of the biggest growth drivers for the firm",
    "gold": "[Cause] the company develops the B-21 bomber and the ground-based strategic deterrent [Relation] cause [Effect] aeronautics and space systems will be two of the biggest growth drivers for the firm",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Recurring revenue has been steadily increasing as Nice transitions more and more customers to the cloud, and this supports a steady, visible revenue stream.",
    "output": "[Cause] Nice transitions more and more customers to the cloud [Relation] cause [Effect] Recurring revenue has been steadily increasing",
    "gold": "[Cause] Nice transitions more and more customers to the cloud [Relation] cause [Effect] Recurring revenue has been steadily increasing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The contractor bears the financial risk of cost overruns for these programs, so a poorly executed development would financially strain General Dynamics.",
    "output": "[Cause] The contractor bears the financial risk of cost overruns for these programs [Relation] cause [Effect] a poorly executed development would financially strain General Dynamics",
    "gold": "[Cause] The contractor bears the financial risk of cost overruns for these programs [Relation] cause [Effect] a poorly executed development would financially strain General Dynamics",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Dish now holds a well-diversified portfolio of spectrum assets that would nicely support the offering of wireless service, but no network to utilize that spectrum.",
    "output": "[Cause] Dish now holds a well-diversified portfolio of spectrum assets [Relation] enable [Effect] nicely support the offering of wireless service",
    "gold": "[Cause] Dish now holds a well-diversified portfolio of spectrum assets [Relation] enable [Effect] nicely support the offering of wireless service",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Dish now holds a well-diversified portfolio of spectrum assets that would nicely support the offering of wireless service, but no network to utilize that spectrum.",
    "output": "[Cause] Dish now holds a well-diversified portfolio of spectrum assets [Relation] enable [Effect] nicely support the offering of wireless service",
    "gold": "[Cause] no network to utilize that spectrum [Relation] prevent [Effect] Dish now holds a well-diversified portfolio of spectrum assets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With the capital costs of a single production line in excess of $70 million and relatively slim per-can margins, facilities with low utilization rates cannot operate profitably.",
    "output": "[Cause] the capital costs of a single production line in excess of $70 million and relatively slim per-can margins [Relation] cause [Effect] facilities with low utilization rates cannot operate profitably",
    "gold": "[Cause] the capital costs of a single production line in excess of $70 million and relatively slim per-can margins [Relation] cause [Effect] facilities with low utilization rates cannot operate profitably",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Economic profitability may be at risk if steel prices were to return to the highs experienced in the summer of 2008.",
    "output": "[Cause] steel prices were to return to the highs experienced in the summer of 2008 [Relation] cause [Effect] Economic profitability may be at risk",
    "gold": "[Cause] steel prices were to return to the highs experienced in the summer of 2008 [Relation] cause [Effect] Economic profitability may be at risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The worst is not quite over yet for airlines, as the COVID-19 vaccine has not been fully distributed yet, but we see a leisure-led recovery for airlines and anticipate Delta can return to 2019 levels of capacity in 2023.",
    "output": "[Cause] the COVID-19 vaccine has not been fully distributed yet [Relation] cause [Effect] The worst is not quite over yet for airlines",
    "gold": "[Cause] the COVID-19 vaccine has not been fully distributed yet [Relation] cause [Effect] The worst is not quite over yet for airlines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the short term, we expect some additional costs from the Orange Bank expansion, but this will be mostly offset by improved margins in the core telecom business.",
    "output": "[Cause] the Orange Bank expansion [Relation] cause [Effect] some additional costs",
    "gold": "[Cause] the Orange Bank expansion [Relation] cause [Effect] some additional costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the increasing availability of COVID-19 vaccines in 2021 will return US Foods' organic sales to prepandemic levels by 2022, with long-term opportunities remaining intact.",
    "output": "[Cause] the increasing availability of COVID-19 vaccines in 2021 [Relation] enable [Effect] return US Foods' organic sales to prepandemic levels by 2022, with long-term opportunities remaining intact",
    "gold": "[Cause] the increasing availability of COVID-19 vaccines in 2021 [Relation] enable [Effect]  return US Foods' organic sales to prepandemic levels by 2022, with long-term opportunities remaining intact",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project Coloplast's interventional urology business should recover and see 8% growth in 2023, as the firm remains a step ahead of new products from competitors and delayed patients return for treatment.",
    "output": "[Cause] the firm remains a step ahead of new products from competitors and delayed patients return for treatment [Relation] cause [Effect] Coloplast's interventional urology business should recover and see 8% growth in 2023",
    "gold": "[Cause] the firm remains a step ahead of new products from competitors and delayed patients return for treatment [Relation] cause [Effect] Coloplast's interventional urology business should recover and see 8% growth in 2023",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although this strategy has paused as investment transaction volumes have frozen up due to the coronavirus crisis, it should resume once the crisis is over and will persist several years thereafter.",
    "output": "[Cause] investment transaction volumes have frozen up [Relation] cause [Effect] this strategy has paused",
    "gold": "[Cause]  investment transaction volumes have frozen up [Relation] cause [Effect] this strategy has paused",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although this strategy has paused as investment transaction volumes have frozen up due to the coronavirus crisis, it should resume once the crisis is over and will persist several years thereafter.",
    "output": "[Cause] the coronavirus crisis [Relation] cause [Effect] investment transaction volumes have frozen up",
    "gold": "[Cause] the coronavirus crisis [Relation] cause [Effect]  investment transaction volumes have frozen up",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, global travel has languished as a result of COVID-19, potentially leading to longer-term secular shifts in consumer behavior, challenging the economic performance of Carnival over an extended horizon.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] global travel has languished",
    "gold": "[Cause] global travel has languished as a result of COVID-19 [Relation] cause [Effect] longer-term secular shifts in consumer behavior, challenging the economic performance of Carnival over an extended horizon",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, intense competition, some exposure to the macroeconomic environment, and threat of government regulation keep us from rating it as low.",
    "output": "[Cause] intense competition, some exposure to the macroeconomic environment, and threat of government regulation [Relation] prevent [Effect] rating it as low",
    "gold": "[Cause] intense competition, some exposure to the macroeconomic environment, and threat of government regulation [Relation] prevent [Effect] rating it as low",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our volume forecast is muted by the emergence of cheaper suppliers in lower cost labor countries; however, Tilray's production expansion into Portugal helps protect its share.",
    "output": "[Cause] Tilray's production expansion into Portugal [Relation] enable [Effect] protect its share",
    "gold": "[Cause]  the emergence of cheaper suppliers in lower cost labor countries [Relation] cause [Effect] Our volume forecast is muted",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, we expect near-term margins to be pressured by incremental COVID-19-related costs and delivery (70% of systemwide sales) competition will likely intensify as more cuisines become available through third-party delivery services.",
    "output": "[Cause] more cuisines become available through third-party delivery services [Relation] cause [Effect] near-term margins to be pressured by incremental COVID-19-related costs and delivery (70% of systemwide sales) competition will likely intensify",
    "gold": "[Cause] more cuisines become available through third-party delivery services [Relation] cause [Effect] near-term margins to be pressured by incremental COVID-19-related costs and delivery (70% of systemwide sales) competition will likely intensify",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have maintained our 2020 marketing cost of 50% of sales, as TripAdvisor deleverages against amenic sales demand resulting from COVID-19.",
    "output": "[Cause] TripAdvisor deleverages against amenic sales demand resulting from COVID-19 [Relation] cause [Effect] We have maintained our 2020 marketing cost of 50% of sales",
    "gold": "[Cause] TripAdvisor deleverages against amenic sales demand resulting from COVID-19 [Relation] cause [Effect] We have maintained our 2020 marketing cost of 50% of sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although Oracle is an industry leading software provider today, the company is encountering headwinds as it transitions to the cloud.",
    "output": "[Cause] it transitions to the cloud [Relation] cause [Effect] the company is encountering headwinds",
    "gold": "[Cause]  it transitions to the cloud [Relation] cause [Effect]  the company is encountering headwinds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, the confluence of being preeminently exposed to the U.S., and the intermediated go-to-market approach that the country's regulations mandate, means that the firm cannot own any portion of its distribution apparatus.",
    "output": "[Cause] the confluence of being preeminently exposed to the U.S., and the intermediated go-to-market approach that the country's regulations mandate [Relation] cause [Effect] the firm cannot own any portion of its distribution apparatus",
    "gold": "[Cause] the confluence of being preeminently exposed to the U.S., and the intermediated go-to-market approach that the country's regulations mandate [Relation] cause [Effect]  the firm cannot own any portion of its distribution apparatus",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "More recently, these structural challenges abroad have been compounded as chocolate is less engrained in the culture, it is a more premium-priced product relative to other food categories, the impact of economic uncertainty, and the outsize effect of trade shutdowns stemming from COVID-19.",
    "output": "[Cause] chocolate is less engrained in the culture, it is a more premium-priced product relative to other food categories, the impact of economic uncertainty, and the outsize effect of trade shutdowns stemming from COVID-19 [Relation] cause [Effect] these structural challenges abroad have been compounded",
    "gold": "[Cause] chocolate is less engrained in the culture, it is a more premium-priced product relative to other food categories, the impact of economic uncertainty, and the outsize effect of trade shutdowns stemming from COVID-19 [Relation] cause [Effect] these structural challenges abroad have been compounded",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Parallel to this reality, in our view, is Boston Beer's relatively less leeway to influence its wholesalers given the more fragmented nature of high-end malt beverages.",
    "output": "[Cause] the more fragmented nature of high-end malt beverages [Relation] cause [Effect] Boston Beer's relatively less leeway to influence its wholesalers",
    "gold": "[Cause] the more fragmented nature of high-end malt beverages [Relation] cause [Effect] Boston Beer's relatively less leeway to influence its wholesalers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fixed costs create unfavorable operating leverage that can cause profits to swing widely in response to changes in demand, like the harsh operating environment brought on by the pandemic.",
    "output": "[Cause] Fixed costs create unfavorable operating leverage [Relation] cause [Effect] profits to swing widely in response to changes in demand",
    "gold": "[Cause] the pandemic [Relation] cause [Effect]  the harsh operating environment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Fixed costs create unfavorable operating leverage that can cause profits to swing widely in response to changes in demand, like the harsh operating environment brought on by the pandemic.",
    "output": "[Cause] Fixed costs create unfavorable operating leverage [Relation] cause [Effect] profits to swing widely in response to changes in demand",
    "gold": "[Cause] Fixed costs create unfavorable operating leverage [Relation] cause [Effect] profits to swing widely in response to changes in demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The main driver of our fair value increase is our lower systematic risk to equity rating, which reduced our cost of equity assumption to 7.5% from 9% previously.",
    "output": "[Cause] our lower systematic risk to equity rating [Relation] cause [Effect] our fair value increase",
    "gold": "[Cause] our lower systematic risk to equity rating [Relation] enable [Effect] our fair value increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While a long-term impairment of business travel would affect American Express, the overall impact would be manageable as the company is not as dependent on this segment as it once was.",
    "output": "[Cause] the company is not as dependent on this segment as it once was [Relation] cause [Effect] the overall impact would be manageable",
    "gold": "[Cause]  the company is not as dependent on this segment as it once was [Relation] cause [Effect]  the overall impact would be manageable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While a long-term impairment of business travel would affect American Express, the overall impact would be manageable as the company is not as dependent on this segment as it once was.",
    "output": "[Cause] the company is not as dependent on this segment as it once was [Relation] cause [Effect] the overall impact would be manageable",
    "gold": "[Cause]  a long-term impairment of business travel [Relation] cause [Effect] affect American Express",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition to the cost savings that Ecolab's products customers appreciate, Ecolab minimizes downtime for key pieces of its customers' machinery, allowing its business processes to proceed without costly interruptions.",
    "output": "[Cause] Ecolab minimizes downtime for key pieces of its customers' machinery [Relation] enable [Effect] its business processes to proceed without costly interruptions",
    "gold": "[Cause] Ecolab minimizes downtime for key pieces of its customers' machinery [Relation] enable [Effect] its business processes to proceed without costly interruptions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The main current influences on earnings growth are modest credit growth, a product of household risk aversion and deleveraging, and delays to business plans for capital expenditure.",
    "output": "[Cause] household risk aversion and deleveraging [Relation] cause [Effect] The main current influences on earnings growth",
    "gold": "[Cause] modest credit growth [Relation] cause [Effect] The main current influences on earnings growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The main current influences on earnings growth are modest credit growth, a product of household risk aversion and deleveraging, and delays to business plans for capital expenditure.",
    "output": "[Cause] household risk aversion and deleveraging [Relation] cause [Effect] The main current influences on earnings growth",
    "gold": "[Cause] delays to business plans for capital expenditure [Relation] cause [Effect] The main current influences on earnings growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Morgan Stanley's earnings in 2020 have held up better than expected, as global macroeconomic uncertainty led to high trading volumes and as companies used the capital raising services of investment banks to bolster liquidity.",
    "output": "[Cause] global macroeconomic uncertainty [Relation] cause [Effect] high trading volumes",
    "gold": "[Cause] global macroeconomic uncertainty led to high trading volumes and as companies used the capital raising services of investment banks to bolster liquidity [Relation] cause [Effect] Morgan Stanley's earnings in 2020 have held up better",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Morgan Stanley's earnings in 2020 have held up better than expected, as global macroeconomic uncertainty led to high trading volumes and as companies used the capital raising services of investment banks to bolster liquidity.",
    "output": "[Cause] companies used the capital raising services of investment banks [Relation] enable [Effect] bolster liquidity",
    "gold": "[Cause] global macroeconomic uncertainty [Relation] cause [Effect]  high trading volumes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Morgan Stanley's earnings in 2020 have held up better than expected, as global macroeconomic uncertainty led to high trading volumes and as companies used the capital raising services of investment banks to bolster liquidity.",
    "output": "[Cause] companies used the capital raising services of investment banks [Relation] enable [Effect] bolster liquidity",
    "gold": "[Cause]  companies used the capital raising services of investment banks [Relation] enable [Effect]  bolster liquidity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, the most significant risk facing the company is competition from online players like Amazon and other mass merchants, which have passed their scale and other cost advantages into lower prices for consumers, particularly in commoditized categories.",
    "output": "[Cause] competition from online players like Amazon and other mass merchants [Relation] cause [Effect] the most significant risk facing the company",
    "gold": "[Cause] competition from online players like Amazon and other mass merchants [Relation] cause [Effect] the most significant risk facing the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Snap-on's brand value and premium prices are largely maintained by its difficult-to-displace van network, the firm has a long history of developing innovative products of the highest quality.",
    "output": "[Cause] Snap-on's brand value and premium prices are largely maintained by its difficult-to-displace van network [Relation] enable [Effect] the firm has a long history of developing innovative products of the highest quality",
    "gold": "[Cause]  the firm has a long history of developing innovative products of the highest quality [Relation] cause [Effect] Snap-on's brand value and premium prices are largely maintained by its difficult-to-displace van network",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The reason behind the share loss is that most of its customers have been on older networks that can't deliver the speeds and capacity consumers increasingly demand.",
    "output": "[Cause] older networks [Relation] prevent [Effect] deliver the speeds and capacity consumers increasingly demand",
    "gold": "[Cause] older networks [Relation] prevent [Effect] deliver the speeds and capacity consumers increasingly demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By contrast, the phone companies are typically incapable of increasing network speeds broadly across their networks without heavy investment to bring fiber closer to customers. As a result, large swaths of the phone network remain incapable of delivering speeds beyond 20 megabits/second or so, increasingly falling short of customer demand.",
    "output": "[Cause] the phone companies are typically incapable of increasing network speeds broadly across their networks without heavy investment to bring fiber closer to customers [Relation] cause [Effect] large swaths of the phone network remain incapable of delivering speeds beyond 20 megabits/second or so, increasingly falling short of customer demand",
    "gold": "[Cause] the phone companies are typically incapable of increasing network speeds broadly across their networks without heavy investment to bring fiber closer to customers [Relation] cause [Effect] large swaths of the phone network remain incapable of delivering speeds beyond 20 megabits/second or so, increasingly falling short of customer demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, chip design would be virtually impossible without EDA tools; this makes tools that companies like Synopsys provide critical to customers.",
    "output": "[Cause] chip design would be virtually impossible without EDA tools [Relation] cause [Effect] tools that companies like Synopsys provide critical to customers",
    "gold": "[Cause] EDA tools [Relation] cause [Effect] companies like Synopsys provide critical to customers.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A large portion of provider services are related to collections and are generally more labor-intensive than the other automated administrative services offered, which is reflected in the higher average fee rate.",
    "output": "[Cause] A large portion of provider services are related to collections and are generally more labor-intensive than the other automated administrative services offered [Relation] cause [Effect] the higher average fee rate",
    "gold": "[Cause] the higher average fee rate [Relation] cause [Effect] generally more labor-intensive than the other automated administrative services offered",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We assume 2.5% passenger volume growth and 0.5% freight volume growth in midcycle, and a potential total tariff hike of 25% for long-distance passenger transportation in 2022-23. These will translate into approximately 11.5% growth in railway transportation revenue, on average, for the next five years, from the depressed 2020 level that was hit by the COVID-19-related travel restrictions.",
    "output": "[Cause] 2.5% passenger volume growth and 0.5% freight volume growth in midcycle, and a potential total tariff hike of 25% for long-distance passenger transportation in 2022-23 [Relation] cause [Effect] translate into approximately 11.5% growth in railway transportation revenue, on average, for the next five years, from the depressed 2020 level that was hit by the COVID-19-related travel restrictions",
    "gold": "[Cause] 2.5% passenger volume growth and 0.5% freight volume growth in midcycle, and a potential total tariff hike of 25% for long-distance passenger transportation in 2022-23 [Relation] cause [Effect] translate into approximately 11.5% growth in railway transportation revenue, on average, for the next five years, from the depressed 2020 level that was hit by the COVID-19-related travel restrictions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Perhaps the most important reason is that these companies are customers of Core Lab and rely quite heavily on Core in developing their reservoir evaluation product lines.",
    "output": "[Cause] these companies are customers of Core Lab and rely quite heavily on Core in developing their reservoir evaluation product lines [Relation] cause [Effect] Perhaps the most important reason",
    "gold": "[Cause] these companies are customers of Core Lab [Relation] cause [Effect] rely quite heavily on Core in developing their reservoir evaluation product lines",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because of the duration of long-term contractual agreements with its automaker customers, we think Aptiv is more likely than not to create economic value over the next 10 years.",
    "output": "[Cause] the duration of long-term contractual agreements with its automaker customers [Relation] cause [Effect] we think Aptiv is more likely than not to create economic value over the next 10 years",
    "gold": "[Cause] the duration of long-term contractual agreements with its automaker customers [Relation] cause [Effect] we think Aptiv is more likely than not to create economic value over the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, IBA lacks the deep pockets of Varian, and protons require significant ongoing investment in both the technology and clinical data. Thus, we assume Varian will end up a winner in this area, although whether it can ever earn returns similar to those it achieves in linacs has yet to be determined.",
    "output": "[Cause] IBA lacks the deep pockets of Varian, and protons require significant ongoing investment in both the technology and clinical data [Relation] cause [Effect] Varian will end up a winner in this area, although whether it can ever earn returns similar to those it achieves in linacs has yet to be determined",
    "gold": "[Cause] IBA lacks the deep pockets of Varian, and protons require significant ongoing investment in both the technology and clinical data [Relation] cause [Effect]  Varian will end up a winner in this area, although whether it can ever earn returns similar to those it achieves in linacs has yet to be determined",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, we believe dominant players such as EDU will continue to gain market share due to its scale, and teacher quality with standardized facilities and teaching materials.",
    "output": "[Cause] its scale, and teacher quality with standardized facilities and teaching materials [Relation] cause [Effect] dominant players such as EDU will continue to gain market share",
    "gold": "[Cause]  its scale, and teacher quality with standardized facilities and teaching materials [Relation] cause [Effect] dominant players such as EDU will continue to gain market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It typically does not hedge this exposure, which could add volatility to the top line, but since there are expenses in foreign currencies, there is a bit of a natural hedge.",
    "output": "[Cause] there are expenses in foreign currencies [Relation] cause [Effect] there is a bit of a natural hedge",
    "gold": "[Cause] add volatility to the top line [Relation] enable [Effect] It typically does not hedge this exposure",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, with the bank's solid mix of fee income, JPMorgan will is better insulated in low rate environments.",
    "output": "[Cause] the bank's solid mix of fee income [Relation] enable [Effect] JPMorgan will is better insulated in low rate environments",
    "gold": "[Cause] the bank's solid mix of fee income [Relation] cause [Effect] JPMorgan will is better insulated in low rate environments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, declining fuel prices artificially boost the firm's gross profit margin percentage on freight hauled by third-party broker carriers because lower fuel surcharges will reduce gross revenue with little impact on net revenue.",
    "output": "[Cause] lower fuel surcharges will reduce gross revenue with little impact on net revenue [Relation] cause [Effect] declining fuel prices artificially boost the firm's gross profit margin percentage on freight hauled by third-party broker carriers",
    "gold": "[Cause] lower fuel surcharges will reduce gross revenue with little impact on net revenue [Relation] cause [Effect] declining fuel prices artificially boost the firm's gross profit margin percentage on freight hauled by third-party broker carriers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overview of China's Education Industry's Key Regulatory Requirements:The Chinese education sector is highly influenced by government policy, given any tightened governmental regulations may impact the share price performance of the whole education sector.",
    "output": "[Cause] any tightened governmental regulations may impact the share price performance of the whole education sector [Relation] cause [Effect] The Chinese education sector is highly influenced by government policy",
    "gold": "[Cause] any tightened governmental regulations [Relation] enable [Effect]  impact the share price performance of the whole education sector",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, since shipments are done from the retailer, there is no need for warehousing (warehousing costs contribute around a third of fulfillment costs at Zalando).",
    "output": "[Cause] shipments are done from the retailer [Relation] cause [Effect] there is no need for warehousing",
    "gold": "[Cause] shipments are done from the retailer [Relation] cause [Effect]  there is no need for warehousing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see fewer pockets of potential upside in some of the enterprise segments, as we expect technological advances to weigh heavily on pricing.",
    "output": "[Cause] technological advances to weigh heavily on pricing [Relation] cause [Effect] fewer pockets of potential upside in some of the enterprise segments",
    "gold": "[Cause] technological advances to weigh heavily on pricing [Relation] cause [Effect] fewer pockets of potential upside in some of the enterprise segments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, as a cybersecurity provider, any security breach of BlackBerry's software could compromise sensitive customer data, or result in danger for cars and drivers operating with its QNX software.",
    "output": "[Cause] any security breach of BlackBerry's software [Relation] cause [Effect] danger for cars and drivers operating with its QNX software",
    "gold": "[Cause] any security breach of BlackBerry's software [Relation] cause [Effect] danger for cars and drivers operating with its QNX software",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With Buffett having turned 90 in August 2020 and Munger turning 97 in January 2020, it has become increasingly likely that our valuation horizon will end up exceeding their life spans, with the quality of investment returns and capital allocation likely to deteriorate under new management.",
    "output": "[Cause] Buffett having turned 90 in August 2020 and Munger turning 97 in January 2020 [Relation] cause [Effect] it has become increasingly likely that our valuation horizon will end up exceeding their life spans, with the quality of investment returns and capital allocation likely to deteriorate under new management",
    "gold": "[Cause] it has become increasingly likely that our valuation horizon will end up exceeding their life spans [Relation] prevent [Effect]  the quality of investment returns and capital allocation likely to deteriorate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the purchase has broadened the firm's power semiconductor capabilities to sufficiently serve the growth trends in medium to high power markets, allowing it to be more competitive in areas like EV charging infrastructure.",
    "output": "[Cause] the purchase has broadened the firm's power semiconductor capabilities [Relation] enable [Effect] sufficiently serve the growth trends in medium to high power markets",
    "gold": "[Cause] sufficiently serve the growth trends in medium to high power markets [Relation] cause [Effect]  the purchase has broadened the firm's power semiconductor capabilities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The incredible change in networking should continue over the next decade; Arista's opportunity is expanding its customer base by staying ahead of competitors that have more resources, products, and incumbent design wins.",
    "output": "[Cause] staying ahead of competitors that have more resources, products, and incumbent design wins [Relation] enable [Effect] Arista's opportunity is expanding its customer base",
    "gold": "[Cause] staying ahead of competitors that have more resources, products, and incumbent design wins [Relation] enable [Effect] Arista's opportunity is expanding its customer base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The business risk to Patterson's operations largely stems from increased competition from highly efficient and low-cost new entrants in the dental consumable market and likely risk to Patterson's long-term pricing power with increasing concentration of corporate buyers.",
    "output": "[Cause] increased competition from highly efficient and low-cost new entrants in the dental consumable market and likely risk to Patterson's long-term pricing power with increasing concentration of corporate buyers [Relation] cause [Effect] The business risk to Patterson's operations",
    "gold": "[Cause] increased competition from highly efficient and low-cost new entrants in the dental consumable market and likely risk to Patterson's long-term pricing power with increasing concentration of corporate buyers [Relation] cause [Effect] The business risk to Patterson's operations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the largest hospital operator in the U.S., HCA has amassed enough cost advantages to sustain economic profits for at least the next 10 years, in our opinion.",
    "output": "[Cause] As the largest hospital operator in the U.S. [Relation] enable [Effect] HCA has amassed enough cost advantages to sustain economic profits for at least the next 10 years",
    "gold": "[Cause] As the largest hospital operator in the U.S., HCA has amassed enough cost advantages [Relation] enable [Effect] sustain economic profits for at least the next 10 years, in our opinion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The coronavirus has caused an unprecedented shock to the food-service industry, which we think is likely to cause the permanent closure of up to 15% of restaurants and a double-digit decline in industry sales in calendar 2020.",
    "output": "[Cause] The coronavirus has caused an unprecedented shock to the food-service industry [Relation] cause [Effect] the permanent closure of up to 15% of restaurants and a double-digit decline in industry sales in calendar 2020",
    "gold": "[Cause] The coronavirus [Relation] cause [Effect] an unprecedented shock to the food-service industry",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If new competitors enter as these economies develop, markets could become more competitive and pricing pressures and customer losses could arise and harm Orange.",
    "output": "[Cause] new competitors enter as these economies develop [Relation] cause [Effect] markets could become more competitive and pricing pressures and customer losses could arise and harm Orange",
    "gold": "[Cause]  new competitors enter as these economies develop [Relation] cause [Effect]  markets could become more competitive and pricing pressures and customer losses could arise and harm Orange",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Icon is well positioned to carry out next-generation decentralized trials and real-world evidence trials thanks to a series of recent acquisitions.",
    "output": "[Cause] a series of recent acquisitions [Relation] enable [Effect] Icon is well positioned to carry out next-generation decentralized trials and real-world evidence trials",
    "gold": "[Cause] a series of recent acquisitions [Relation] cause [Effect] Icon is well positioned to carry out next-generation decentralized trials and real-world evidence trials",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The combination of intensive capital requirements, low price realizations, and the uncertainty associated with future projects hampers Canadian Natural's ability to generate sustainable excess returns on invested capital.",
    "output": "[Cause] The combination of intensive capital requirements, low price realizations, and the uncertainty associated with future projects [Relation] prevent [Effect] Canadian Natural's ability to generate sustainable excess returns on invested capital",
    "gold": "[Cause] The combination of intensive capital requirements, low price realizations, and the uncertainty associated with future projects [Relation] prevent [Effect]  Canadian Natural's ability to generate sustainable excess returns on invested capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Federal funding power has weakened over time, as improving vehicle mileage and inflation have diminished the power of the $0.18 per gallon gasoline tax, unchanged since 1993.",
    "output": "[Cause] improving vehicle mileage and inflation have diminished the power of the $0.18 per gallon gasoline tax [Relation] cause [Effect] Federal funding power has weakened over time",
    "gold": "[Cause] improving vehicle mileage and inflation [Relation] cause [Effect] diminished the power of the $0.18 per gallon gasoline tax",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The narrower scope limits the firm's opportunities, as a broader marketing presence would allow it to more actively take advantage of time, location, and product upgrade differentials.",
    "output": "[Cause] a broader marketing presence would allow it to more actively take advantage of time, location, and product upgrade differentials [Relation] cause [Effect] The narrower scope limits the firm's opportunities",
    "gold": "[Cause]  a broader marketing presence would allow it to more actively take advantage of time, location, and product upgrade differentials [Relation] cause [Effect] The narrower scope limits the firm's opportunities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, we forecast Kohl's will reduce its capital expenditures to $285 million in 2020, $570 million less than last year, to conserve cash.",
    "output": "[Cause] Kohl's will reduce its capital expenditures to $285 million in 2020, $570 million less than last year [Relation] enable [Effect] conserve cash",
    "gold": "[Cause] Kohl's will reduce its capital expenditures to $285 million in 2020, $570 million less than last year [Relation] enable [Effect] conserve cash",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "PPD estimates that outsourcing penetration has increased from 36% in 2007 to 49% in 2018, and we expect outsourcing penetration will continue to grow as trials become more complex.",
    "output": "[Cause] trials become more complex [Relation] cause [Effect] outsourcing penetration will continue to grow",
    "gold": "[Cause] trials become more complex [Relation] cause [Effect] outsourcing penetration will continue to grow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With 80% of its primary clients using these services (which involve extensive systems integration and onboarding), this business is profitable and increases switching costs for its main commercial clients.",
    "output": "[Cause] 80% of its primary clients using these services (which involve extensive systems integration and onboarding) [Relation] enable [Effect] this business is profitable and increases switching costs for its main commercial clients",
    "gold": "[Cause] 80% of its primary clients using these services (which involve extensive systems integration and onboarding) [Relation] enable [Effect] this business is profitable and increases switching costs for its main commercial clients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Notably, Telefonica recently decided to exit several small Latin American markets to increase focus and reduce leverage, selling its wireless operations to Millicom (Panama, Nicaragua) and America Movil (Guatemala).",
    "output": "[Cause] Telefonica recently decided to exit several small Latin American markets [Relation] enable [Effect] increase focus and reduce leverage, selling its wireless operations to Millicom (Panama, Nicaragua) and America Movil (Guatemala)",
    "gold": "[Cause] elefonica recently decided to exit several small Latin American markets to increase focus and reduce leverage [Relation] cause [Effect] selling its wireless operations to Millicom (Panama, Nicaragua) and America Movil (Guatemala)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "It has built a reputation for quality and speed, which allows it to control 35% market share of the research model & services industry and 33% of the outsourced safety assessment industry worldwide.",
    "output": "[Cause] It has built a reputation for quality and speed [Relation] enable [Effect] it to control 35% market share of the research model & services industry and 33% of the outsourced safety assessment industry worldwide",
    "gold": "[Cause] It has built a reputation for quality and speed [Relation] enable [Effect]  it to control 35% market share of the research model & services industry and 33% of the outsourced safety assessment industry worldwide",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The greater volume of data it collects through improvement of these systems, along with its underlying growth, enhances the value of this information, enabling LKQ to improve further its cost advantage and margins.",
    "output": "[Cause] The greater volume of data it collects through improvement of these systems, along with its underlying growth [Relation] enable [Effect] enhances the value of this information, enabling LKQ to improve further its cost advantage and margins",
    "gold": "[Cause] The greater volume of data it collects through improvement of these systems, along with its underlying growth [Relation] enable [Effect] enhances the value of this information, enabling LKQ to improve further its cost advantage and margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Investments will be scaled back, as necessary production capacity has been built out with 2013 peak demand in mind and there is no capacity obsolescence.",
    "output": "[Cause] necessary production capacity has been built out with 2013 peak demand in mind and there is no capacity obsolescence [Relation] cause [Effect] Investments will be scaled back",
    "gold": "[Cause] necessary production capacity has been built out with 2013 peak demand in mind and there is no capacity obsolescence [Relation] cause [Effect] Investments will be scaled back",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Conversely, lower utilization conveys power to the buyers (E&Ps), ultimately resulting in downward pricing pressure as drillers jockey to outbid one another to win contracts.",
    "output": "[Cause] lower utilization [Relation] cause [Effect] power to the buyers (E&Ps)",
    "gold": "[Cause] drillers jockey to outbid one another to win contracts [Relation] cause [Effect]  lower utilization conveys power to the buyers (E&Ps), ultimately resulting in downward pricing pressure",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Conversely, lower utilization conveys power to the buyers (E&Ps), ultimately resulting in downward pricing pressure as drillers jockey to outbid one another to win contracts.",
    "output": "[Cause] drillers jockey to outbid one another to win contracts [Relation] cause [Effect] downward pricing pressure",
    "gold": "[Cause]  lower utilization [Relation] cause [Effect] downward pricing pressure",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The pandemic injects near-term volatility as Kroger laps exceptional fiscal 2020 growth as rising vaccination rates stand to direct some food spending back to restaurants.",
    "output": "[Cause] rising vaccination rates stand to direct some food spending back to restaurants [Relation] cause [Effect] The pandemic injects near-term volatility as Kroger laps exceptional fiscal 2020 growth",
    "gold": "[Cause] rising vaccination rates stand to direct some food spending back to restaurants [Relation] enable [Effect] The pandemic injects near-term volatility as Kroger laps exceptional fiscal 2020 growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In terms of ESG-related risks, because CSX carries freight for chemical end-market shippers, it is subject to the liabilities associated with hazardous material spills.",
    "output": "[Cause] CSX carries freight for chemical end-market shippers [Relation] cause [Effect] it is subject to the liabilities associated with hazardous material spills",
    "gold": "[Cause] CSX carries freight for chemical end-market shippers [Relation] cause [Effect] it is subject to the liabilities associated with hazardous material spills",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Economic profitability may be at risk if automotive demand were to precipitously drop or if aluminum, steel, copper, and plastic resin prices were to spike dramatically.",
    "output": "[Cause] automotive demand were to precipitously drop or if aluminum, steel, copper, and plastic resin prices were to spike dramatically [Relation] cause [Effect] Economic profitability may be at risk",
    "gold": "[Cause]  automotive demand were to precipitously drop or if aluminum, steel, copper, and plastic resin prices were to spike dramatically [Relation] cause [Effect] Economic profitability may be at risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Amid low capital expenditures levels, healthy demand, and high capacity utilization, we surmise that Howmet would likely offer very attractive returns on invested capital.",
    "output": "[Cause] low capital expenditures levels, healthy demand, and high capacity utilization [Relation] enable [Effect] Howmet would likely offer very attractive returns on invested capital",
    "gold": "[Cause] low capital expenditures levels, healthy demand, and high capacity utilization [Relation] cause [Effect] Howmet would likely offer very attractive returns on invested capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sensitivity to macroeconomic variables, including unemployment and inflation in nondiscretionary expenditures remains important moving forward, with pressure likely to show up first in guest traffic should cash constrained customers choose to rotate spending toward cheaper substitutes.",
    "output": "[Cause] cash constrained customers choose to rotate spending toward cheaper substitutes [Relation] cause [Effect] pressure likely to show up first in guest traffic",
    "gold": "[Cause] cash constrained customers choose to rotate spending toward cheaper substitutes [Relation] cause [Effect] pressure likely to show up first in guest traffic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "More pleasing has been the wireless operating profit growth reported in 2020 and first quarter 2021 as competition seems to have stabilized with 5G generating incremental revenue.",
    "output": "[Cause] competition seems to have stabilized with 5G generating incremental revenue [Relation] cause [Effect] More pleasing has been the wireless operating profit growth reported in 2020 and first quarter 2021",
    "gold": "[Cause]  5G generating incremental revenue [Relation] cause [Effect] competition seems to have stabilized",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, Ingersoll-Rand differentiates itself by offering equipment that reduces a client's total cost of ownership by improving energy efficiency and offering superior reliability.",
    "output": "[Cause] offering equipment [Relation] enable [Effect] Ingersoll-Rand differentiates itself",
    "gold": "[Cause] offering equipment [Relation] enable [Effect] Ingersoll-Rand differentiates itself",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, Ingersoll-Rand differentiates itself by offering equipment that reduces a client's total cost of ownership by improving energy efficiency and offering superior reliability.",
    "output": "[Cause] improving energy efficiency and offering superior reliability [Relation] enable [Effect] reduces a client's total cost of ownership",
    "gold": "[Cause] improving energy efficiency and offering superior reliability [Relation] enable [Effect] reduces a client's total cost of ownership",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Tractor Supply's target demographic is fairly affluent, which helps insulate the firm somewhat during a recession (generating same-store sales of 1% in 2008, negative 1% in 2009, and set for 22% in 2020).",
    "output": "[Cause] Tractor Supply's target demographic is fairly affluent [Relation] enable [Effect] insulate the firm somewhat during a recession",
    "gold": "[Cause] Tractor Supply's target demographic is fairly affluent [Relation] enable [Effect]  insulate the firm somewhat during a recession",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the company is focusing on existing location efficiency rather than expansion, this would not lead to a substantial increase in rental and lease expense.",
    "output": "[Cause] the company is focusing on existing location efficiency rather than expansion [Relation] cause [Effect] this would not lead to a substantial increase in rental and lease expense",
    "gold": "[Cause] the company is focusing on existing location efficiency rather than expansion [Relation] cause [Effect] this would not lead to a substantial increase in rental and lease expense",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Though the amount of assets in hedge funds is not expected to grow, we believe the hedge fund client is still attractive as the high fees make them less sensitive to the basis points paid for fund administration.",
    "output": "[Cause] the high fees make them less sensitive to the basis points paid for fund administration [Relation] cause [Effect] Though the amount of assets in hedge funds is not expected to grow, we believe the hedge fund client is still attractive",
    "gold": "[Cause] the high fees make them less sensitive to the basis points paid for fund administration [Relation] cause [Effect] Though the amount of assets in hedge funds is not expected to grow, we believe the hedge fund client is still attractive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Pembina is in a strong position to benefit from the growing supply and demand for hydrocarbons in western Canada while rewarding investors with the strong dividend.",
    "output": "[Cause] Pembina is in a strong position [Relation] enable [Effect] benefit from the growing supply and demand for hydrocarbons in western Canada while rewarding investors with the strong dividend",
    "gold": "[Cause] Pembina is in a strong position [Relation] enable [Effect] benefit from the growing supply and demand for hydrocarbons in western Canada while rewarding investors with the strong dividend",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Under Armour lacks pricing power in most categories of apparel because it does not have a brand intangible asset.",
    "output": "[Cause] it does not have a brand intangible asset [Relation] cause [Effect] Under Armour lacks pricing power in most categories of apparel",
    "gold": "[Cause]  it does not have a brand intangible asset [Relation] enable [Effect]  Under Armour lacks pricing power in most categories of apparel",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Alternatively, we don't necessarily believe improving its e-commerce penetration would help profitability given the higher cost to ship, likely binding the operating margin potential to historical levels (our operating margin forecast averages 15% over the next decade, versus 15% over the past decade).",
    "output": "[Cause] improving its e-commerce penetration [Relation] prevent [Effect] profitability given the higher cost to ship",
    "gold": "[Cause]  improving its e-commerce penetration [Relation] cause [Effect] binding the operating margin potential to historical levels",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Should the federal government decide to overrule state laws, the Hawthorne segment's potential customer base of legal indoor or greenhouse cannabis growers could disappear as a greater proportion of cannabis could be grown outdoors.",
    "output": "[Cause] a greater proportion of cannabis could be grown outdoors [Relation] cause [Effect] the federal government decide to overrule state laws, the Hawthorne segment's potential customer base of legal indoor or greenhouse cannabis growers could disappear",
    "gold": "[Cause]  a greater proportion of cannabis could be grown outdoors [Relation] cause [Effect]  the federal government decide to overrule state laws, the Hawthorne segment's potential customer base of legal indoor or greenhouse cannabis growers could disappear",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Air Products is well-positioned to navigate the COVID-19 pandemic thanks to its strong balance sheet and resilient on-site business, where the company has long-term agreements with take-or-pay clauses.",
    "output": "[Cause] its strong balance sheet and resilient on-site business, where the company has long-term agreements with take-or-pay clauses [Relation] enable [Effect] Air Products is well-positioned to navigate the COVID-19 pandemic",
    "gold": "[Cause] its strong balance sheet and resilient on-site business, where the company has long-term agreements with take-or-pay clauses [Relation] cause [Effect]  Air Products is well-positioned to navigate the COVID-19 pandemic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ON's prowess in low-light and high interference image sensor design has resulted in it holding the largest market share in the automotive market, at about 40%.",
    "output": "[Cause] ON's prowess in low-light and high interference image sensor design [Relation] cause [Effect] it holding the largest market share in the automotive market, at about 40%",
    "gold": "[Cause] ON's prowess in low-light and high interference image sensor design [Relation] cause [Effect] it holding the largest market share in the automotive market, at about 40%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Here, we expect marketing to average over 47% of sales during 2021-30 versus the 52% and 48% levels reported in 2020 and over the past three years, respectively. As a result of our revenue and expense forecasts, we see operating margins expanding to 17.1% in 2030 from 12.0% in 2019.",
    "output": "[Cause] marketing to average over 47% of sales during 2021-30 versus the 52% and 48% levels reported in 2020 and over the past three years, respectively [Relation] cause [Effect] operating margins expanding to 17.1% in 2030 from 12.0% in 2019",
    "gold": "[Cause] marketing to average over 47% of sales during 2021-30 versus the 52% and 48% levels reported in 2020 and over the past three years, respectively [Relation] cause [Effect]  operating margins expanding to 17.1% in 2030 from 12.0% in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition to its brokerage business, Redfin also has a much smaller partners business where it refers customers to third-party agents when it cannot satisfy consumer demand for its own agents.",
    "output": "[Cause] it cannot satisfy consumer demand for its own agents [Relation] cause [Effect] it refers customers to third-party agents",
    "gold": "[Cause] it cannot satisfy consumer demand for its own agents [Relation] enable [Effect] it refers customers to third-party agents",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A key part of our thesis is that Wells Fargo will begin cutting expenses in 2021 and for years after that, as regulatory and compliance related expense pressures begin to ease.",
    "output": "[Cause] regulatory and compliance related expense pressures begin to ease [Relation] cause [Effect] Wells Fargo will begin cutting expenses in 2021 and for years after that",
    "gold": "[Cause] regulatory and compliance related expense pressures begin to ease [Relation] cause [Effect] Wells Fargo will begin cutting expenses in 2021 and for years after that",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, legislative changes in tax laws and labor laws can be murky and difficult for some companies to understand, and Paycom works to ensure its platform is up to date with regulations so clients are in compliance with the law.",
    "output": "[Cause] legislative changes in tax laws and labor laws can be murky and difficult [Relation] cause [Effect] some companies to understand",
    "gold": "[Cause]  legislative changes in tax laws and labor laws can be murky and difficult [Relation] cause [Effect] some companies to understand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, legislative changes in tax laws and labor laws can be murky and difficult for some companies to understand, and Paycom works to ensure its platform is up to date with regulations so clients are in compliance with the law.",
    "output": "[Cause] Paycom works to ensure its platform is up to date with regulations [Relation] enable [Effect] clients are in compliance with the law",
    "gold": "[Cause] Paycom works to ensure its platform is up to date with regulations [Relation] enable [Effect]  clients are in compliance with the law",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Icing is one of the most hazardous threats in aviation, since it can modify the airflow pattern around airfoil surfaces, including wings and propeller blades.",
    "output": "[Cause] it can modify the airflow pattern around airfoil surfaces, including wings and propeller blades [Relation] cause [Effect] Icing is one of the most hazardous threats in aviation",
    "gold": "[Cause] it can modify the airflow pattern around airfoil surfaces, including wings and propeller blades [Relation] cause [Effect] Icing is one of the most hazardous threats in aviation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our cash flow forecasts don't incorporate the addition of the Keystone XL pipeline, as we don't expect it to be built.",
    "output": "[Cause] we don't expect it to be built [Relation] cause [Effect] Our cash flow forecasts don't incorporate the addition of the Keystone XL pipeline",
    "gold": "[Cause] we don't expect it to be built [Relation] cause [Effect] Our cash flow forecasts don't incorporate the addition of the Keystone XL pipeline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Diageo's broad presence across categories with both global strategic and local niche brands mitigates some of the risk to volume from such shifting consumer tastes and preferences.",
    "output": "[Cause] Diageo's broad presence across categories with both global strategic and local niche brands [Relation] prevent [Effect] some of the risk to volume from such shifting consumer tastes and preferences",
    "gold": "[Cause] Diageo's broad presence across categories with both global strategic and local niche brands [Relation] prevent [Effect] some of the risk to volume from such shifting consumer tastes and preferences",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Estee operates 12 manufacturing facilities to support sales across the globe, open trade is essential for the firm to consistently and reliably provide product to its markets.",
    "output": "[Cause] Estee operates 12 manufacturing facilities to support sales across the globe [Relation] cause [Effect] open trade is essential for the firm to consistently and reliably provide product to its markets",
    "gold": "[Cause]  Estee operates 12 manufacturing facilities to support sales across the globe [Relation] enable [Effect]  open trade is essential for the firm to consistently and reliably provide product to its markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, depressed crude prices have forced capital spending cuts, stalling exploration activities that could lead to future resource discoveries in Colombia. As a result, the company's average proven and probable reserve replacement ratio averaged 115% (excluding the impact of divestitures) over the past three years, indicating that the company is replacing production with new reserves.",
    "output": "[Cause] depressed crude prices have forced capital spending cuts, stalling exploration activities that could lead to future resource discoveries in Colombia [Relation] cause [Effect] the company's average proven and probable reserve replacement ratio averaged 115% (excluding the impact of divestitures) over the past three years, indicating that the company is replacing production with new reserves",
    "gold": "[Cause] depressed crude prices have forced capital spending cuts, stalling exploration activities that could lead to future resource discoveries in Colombia [Relation] cause [Effect] the company's average proven and probable reserve replacement ratio averaged 115% (excluding the impact of divestitures) over the past three years, indicating that the company is replacing production with new reserves",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The excess funds were directed to deposits at central banks and more importantly, allowed HSBC to gain market share in mortgages as peers conserved capital.",
    "output": "[Cause] peers conserved capital [Relation] enable [Effect] HSBC to gain market share in mortgages",
    "gold": "[Cause]  peers conserved capital [Relation] enable [Effect] HSBC to gain market share in mortgages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect connections to become even more important as enterprises increasingly rely on the cloud for applications they traditionally performed in-house, and we believe the Internet of Things, artificial intelligence, and augmented reality will contribute to data center demand, all driving Digital Realty's business.",
    "output": "[Cause] the Internet of Things, artificial intelligence, and augmented reality will contribute to data center demand [Relation] enable [Effect] Digital Realty's business",
    "gold": "[Cause] We expect connections to become even more important as enterprises increasingly rely on the cloud for applications they traditionally performed in-house, and we believe the Internet of Things, artificial intelligence, and augmented reality [Relation] enable [Effect] will contribute to data center demand, all driving Digital Realty's business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think the automotive segment will realize the greatest 2021 growth, as the broader auto industry recovers from shutdowns in 2020.",
    "output": "[Cause] the broader auto industry recovers from shutdowns in 2020 [Relation] cause [Effect] the automotive segment will realize the greatest 2021 growth",
    "gold": "[Cause] the broader auto industry recovers from shutdowns in 2020 [Relation] cause [Effect]  the automotive segment will realize the greatest 2021 growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the next 10 years we forecast a 7% annual lift to MGM's domestic revenue (versus 6% prior), aided by its T-Mobile arena, professional sports, U.S.",
    "output": "[Cause] its T-Mobile arena, professional sports, U.S [Relation] enable [Effect] a 7% annual lift to MGM's domestic revenue (versus 6% prior)",
    "gold": "[Cause]  its T-Mobile arena, professional sports, U.S [Relation] cause [Effect] Over the next 10 years we forecast a 7% annual lift to MGM's domestic revenue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With relatively strong near-term oil and gas prices, Antero is poised to quickly deleverage, while also taking advantage of higher export demand.",
    "output": "[Cause] relatively strong near-term oil and gas prices [Relation] enable [Effect] Antero is poised to quickly deleverage, while also taking advantage of higher export demand",
    "gold": "[Cause] relatively strong near-term oil and gas prices [Relation] cause [Effect] Antero is poised to quickly deleverage, while also taking advantage of higher export demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "They restore proper function to the CFTR protein or correct its production process so that a normal protein is made.",
    "output": "[Cause] They restore proper function to the CFTR protein or correct its production process [Relation] enable [Effect] a normal protein is made",
    "gold": "[Cause] They restore proper function to the CFTR protein or correct its production process [Relation] cause [Effect] a normal protein is made",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the stock will suffer when Schaeffer leaves, and we think there's a chance operations will be affected as well.",
    "output": "[Cause] Schaeffer leaves [Relation] cause [Effect] the stock will suffer",
    "gold": "[Cause] We believe the stock will suffer when Schaeffer leaves, [Relation] enable [Effect] we think there's a chance operations will be affected as well.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As the firm introduces new modules, we believe its product will become increasingly attractive to businesses and enable greater spending with the firm.",
    "output": "[Cause] the firm introduces new modules [Relation] cause [Effect] its product will become increasingly attractive to businesses",
    "gold": "[Cause] the firm introduces new modules [Relation] enable [Effect] its product will become increasingly attractive to businesses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, we believe the merger structure was positive for previous shareholders because of meaningful cost and revenue synergy opportunities, which have proved to be within reach over the past few years.",
    "output": "[Cause] meaningful cost and revenue synergy opportunities [Relation] cause [Effect] the merger structure was positive for previous shareholders",
    "gold": "[Cause]  meaningful cost and revenue synergy opportunities [Relation] cause [Effect] the merger structure was positive for previous shareholders",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our uncertainty rating for Rolls-Royce is very high due to the uncertain nature and timing of the aviation industry's recovery from COVID-19-induced demand destruction.",
    "output": "[Cause] the uncertain nature and timing of the aviation industry's recovery from COVID-19-induced demand destruction [Relation] cause [Effect] Our uncertainty rating for Rolls-Royce is very high",
    "gold": "[Cause] the uncertain nature and timing of the aviation industry's recovery from COVID-19-induced demand destruction [Relation] enable [Effect] Our uncertainty rating for Rolls-Royce is very high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We would note, though, that our high uncertainty rating encompasses our belief that event risk on the regulatory side will not fully dissipate anytime in the foreseeable future.",
    "output": "[Cause] event risk on the regulatory side will not fully dissipate anytime in the foreseeable future [Relation] cause [Effect] our high uncertainty rating encompasses our belief",
    "gold": "[Cause] event risk on the regulatory side will not fully dissipate anytime in the foreseeable future [Relation] cause [Effect] our high uncertainty rating encompasses our belief",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, Autoliv has a high degree of operating leverage, so sudden declines in volume can have a meaningful impact on profit, which we expect in 2020 from COVID-19.",
    "output": "[Cause] Autoliv has a high degree of operating leverage [Relation] cause [Effect] sudden declines in volume can have a meaningful impact on profit",
    "gold": "[Cause] sudden declines in volume [Relation] cause [Effect]  have a meaningful impact on profit, which we expect in 2020 from COVID-19",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Updated accounting standards for forecasting credit losses that banks must adopt by 2020 should provide a near-term boost in software revenue.",
    "output": "[Cause] Updated accounting standards for forecasting credit losses that banks must adopt by 2020 [Relation] enable [Effect] provide a near-term boost in software revenue",
    "gold": "[Cause]  banks must adopt by 2020 should provide a near-term boost in software revenue [Relation] cause [Effect] Updated accounting standards for forecasting credit losses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Aided by store closures during the pandemic, we think the firm's e-commerce will grow 56% in 2020 and exceed EUR 4.2 billion in sales.",
    "output": "[Cause] store closures during the pandemic [Relation] cause [Effect] the firm's e-commerce will grow 56% in 2020 and exceed EUR 4.2 billion in sales",
    "gold": "[Cause] store closures during the pandemic [Relation] cause [Effect] the firm's e-commerce will grow 56% in 2020 and exceed EUR 4.2 billion in sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Larger retailers also benefit from a more extensive private-label offering, which can be used to spur traffic by differentiating the assortment while also boosting margins.",
    "output": "[Cause] differentiating the assortment [Relation] enable [Effect] spur traffic",
    "gold": "[Cause] a more extensive private-label offering [Relation] enable [Effect] spur traffic by differentiating the assortment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Larger retailers also benefit from a more extensive private-label offering, which can be used to spur traffic by differentiating the assortment while also boosting margins.",
    "output": "[Cause] differentiating the assortment while also boosting margins [Relation] enable [Effect] spur traffic",
    "gold": "[Cause] a more extensive private-label offering [Relation] enable [Effect] boosting margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "At the EBITDA level, we model low-single-digit growth after 2022 as the firm's plans to drive down costs materialize and the revenue decline, improves.",
    "output": "[Cause] the firm's plans to drive down costs materialize and the revenue decline, improves [Relation] cause [Effect] low-single-digit growth after 2022",
    "gold": "[Cause]  the firm's plans to drive down costs materialize and the revenue decline, improves [Relation] enable [Effect]  low-single-digit growth after 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, AbbVie holds several mature drugs with patent expirations long past, but with manufacturing or specific dosing complexities, which make generic competition less likely.",
    "output": "[Cause] manufacturing or specific dosing complexities [Relation] cause [Effect] generic competition less likely",
    "gold": "[Cause] manufacturing or specific dosing complexities [Relation] prevent [Effect] generic competition less likely",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because energy drinks typically contain high levels of compounds that are thought to alter natural bodily functions, such as caffeine, ephedrine, guarana, and ginseng, they tend to be more heavily scrutinized by regulators.",
    "output": "[Cause] energy drinks typically contain high levels of compounds that are thought to alter natural bodily functions [Relation] cause [Effect] they tend to be more heavily scrutinized by regulators",
    "gold": "[Cause]  energy drinks typically contain high levels of compounds that are thought to alter natural bodily functions [Relation] cause [Effect]  they tend to be more heavily scrutinized by regulators",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "An asset manager may prefer to be indexed against the S&amp;P emerging-markets index, for example, but if asset owners and consultants prefer the MSCI Emerging Markets Index, the asset manager would risk Financial Data & Stock Exchangesoutflows.",
    "output": "[Cause] asset owners and consultants prefer the MSCI Emerging Markets Index [Relation] cause [Effect] the asset manager would risk Financial Data & Stock Exchangesoutflows",
    "gold": "[Cause] asset owners and consultants prefer the MSCI Emerging Markets Index [Relation] cause [Effect] the asset manager would risk Financial Data & Stock Exchangesoutflows",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm has acquired and maintained a dominant share position in the AIDC market by pivoting into higher-growth technologies over its life.",
    "output": "[Cause] pivoting into higher-growth technologies over its life [Relation] enable [Effect] The firm has acquired and maintained a dominant share position in the AIDC market",
    "gold": "[Cause] pivoting into higher-growth technologies over its life [Relation] enable [Effect] The firm has acquired and maintained a dominant share position in the AIDC market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After the firm secures a first-fit sale, customers have to periodically purchase replacement parts and consumables as filters become filled with contaminants.",
    "output": "[Cause] filters become filled with contaminants [Relation] cause [Effect] customers have to periodically purchase replacement parts and consumables",
    "gold": "[Cause] filters become filled with contaminants [Relation] cause [Effect] customers have to periodically purchase replacement parts and consumables",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, the company faces a wide range of outcomes as the COVID-19 pandemic affects healthcare systems and clinical trial work.",
    "output": "[Cause] the COVID-19 pandemic affects healthcare systems and clinical trial work [Relation] cause [Effect] the company faces a wide range of outcomes",
    "gold": "[Cause] the COVID-19 pandemic affects healthcare systems and clinical trial work [Relation] cause [Effect] the company faces a wide range of outcomes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If its technology were inferior (or at par with competitors), Masimo would likely eventually be forced into a pricing war to win share.",
    "output": "[Cause] its technology were inferior (or at par with competitors) [Relation] cause [Effect] Masimo would likely eventually be forced into a pricing war to win share",
    "gold": "[Cause] its technology were inferior (or at par with competitors) [Relation] cause [Effect] Masimo would likely eventually be forced into a pricing war to win share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that as natural and organic products become a greater portion of the overall mix, Hain's brands have potential to gain share of their respective categories.",
    "output": "[Cause] natural and organic products become a greater portion of the overall mix [Relation] enable [Effect] Hain's brands have potential to gain share of their respective categories",
    "gold": "[Cause] natural and organic products become a greater portion of the overall mix [Relation] enable [Effect] Hain's brands have potential to gain share of their respective categories",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the firm's manufacturing efficiency, product expertise, and high-tech products will keep gross margins in the upper 30% range but continued research and development, annual price reductions, and overhead spending will prevent major operating margin expansion.",
    "output": "[Cause] the firm's manufacturing efficiency, product expertise, and high-tech products [Relation] enable [Effect] keep gross margins in the upper 30% range",
    "gold": "[Cause]  the firm's manufacturing efficiency, product expertise, and high-tech products [Relation] enable [Effect] keep gross margins in the upper 30% range",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the firm's manufacturing efficiency, product expertise, and high-tech products will keep gross margins in the upper 30% range but continued research and development, annual price reductions, and overhead spending will prevent major operating margin expansion.",
    "output": "[Cause] continued research and development, annual price reductions, and overhead spending [Relation] prevent [Effect] major operating margin expansion",
    "gold": "[Cause]  continued research and development, annual price reductions, and overhead spending [Relation] prevent [Effect]  major operating margin expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The emergence of hard discounters selling private-label products and the threat of the online channel lowering barriers to entry for smaller, nimbler manufacturers that have proved to be more adept at identifying the niche opportunities are headwinds for large-scale consumer packaged goods firms.",
    "output": "[Cause] The emergence of hard discounters selling private-label products and the threat of the online channel lowering barriers to entry for smaller, nimbler manufacturers that have proved to be more adept at identifying the niche opportunities [Relation] prevent [Effect] large-scale consumer packaged goods firms",
    "gold": "[Cause] The emergence of hard discounters selling private-label products and the threat of the online channel [Relation] enable [Effect] lowering barriers to entry for smaller, nimbler manufacturers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Research by Fidelity suggests that advisors might be less willing to leave a firm that has exited the protocol, as 44% of advisors surveyed think that protocol withdrawal would limit their ability to bring along their previous clients.",
    "output": "[Cause] 44% of advisors surveyed think that protocol withdrawal would limit their ability to bring along their previous clients [Relation] cause [Effect] advisors might be less willing to leave a firm that has exited the protocol",
    "gold": "[Cause] 44% of advisors surveyed think that protocol withdrawal would limit their ability to bring along their previous clients [Relation] cause [Effect] advisors might be less willing to leave a firm that has exited the protocol",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, the company has its roots in animal proteins but expanded to other types of proteins with acquisitions of Skippy peanut butter, Justin's nut butters, and later this year, Planters.",
    "output": "[Cause] acquisitions of Skippy peanut butter, Justin's nut butters, and later this year, Planters [Relation] enable [Effect] expanded to other types of proteins",
    "gold": "[Cause] expanded to other types of proteins with acquisitions of Skippy peanut butter [Relation] enable [Effect] later this year",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Earnings will bounce around in the near term as NJR makes an accounting adjustment in 2021 and incorporates earnings from three large projects in 2022-24.",
    "output": "[Cause] NJR makes an accounting adjustment in 2021 and incorporates earnings from three large projects in 2022-24 [Relation] cause [Effect] Earnings will bounce around in the near term",
    "gold": "[Cause] NJR makes an accounting adjustment in 2021 and incorporates earnings from three large projects in 2022-24 [Relation] cause [Effect] Earnings will bounce around in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "HubSpot operates a \"\"\"\"freemium\"\"\"\" model that has allowed it to gather hundreds of thousands of free users, with approximately 15% of these moving into paid solutions.",
    "output": "[Cause] HubSpot operates a \"\"\"\"freemium\"\"\" model [Relation] enable [Effect] gather hundreds of thousands of free users",
    "gold": "[Cause] HubSpot operates a \"\"\"\"freemium\"\"\"\" model [Relation] enable [Effect] gather hundreds of thousands of free users",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Combined with recent pricing increases, Progressive's top line has been very strong, and increasing penetration in the agent channel should help to sustain this growth.",
    "output": "[Cause] increasing penetration in the agent channel [Relation] enable [Effect] sustain this growth",
    "gold": "[Cause]  increasing penetration in the agent channel [Relation] enable [Effect] sustain this growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are maintaining our long-term 1.5% organic sales forecast, as the firm's strong brands compete with evolving consumer preferences away from packaged food toward unprocessed, fresh fare.",
    "output": "[Cause] the firm's strong brands compete with evolving consumer preferences away from packaged food toward unprocessed, fresh fare [Relation] cause [Effect] We are maintaining our long-term 1.5% organic sales forecast",
    "gold": "[Cause]  the firm's strong brands compete with evolving consumer preferences away from packaged food toward unprocessed, fresh fare [Relation] cause [Effect] We are maintaining our long-term 1.5% organic sales forecast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, all three segments will see earnings likely fall in the next two years given the economic fallout from the coronavirus.",
    "output": "[Cause] the economic fallout from the coronavirus [Relation] cause [Effect] all three segments will see earnings likely fall in the next two years",
    "gold": "[Cause]  the economic fallout from the coronavirus [Relation] cause [Effect] all three segments will see earnings likely fall in the next two years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, these segments have grown faster than the broader market in recent years, and firms such as Applied have directly benefited, as they can outspend smaller chip equipment firms in R&D to develop relevant solutions and build on existing market leadership.",
    "output": "[Cause] they can outspend smaller chip equipment firms in R&D to develop relevant solutions and build on existing market leadership [Relation] cause [Effect] these segments have grown faster than the broader market in recent years, and firms such as Applied have directly benefited",
    "gold": "[Cause] they can outspend smaller chip equipment firms in R&D to develop relevant solutions and build on existing market leadership [Relation] cause [Effect] these segments have grown faster than the broader market in recent years, and firms such as Applied have directly benefited",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "During the past several years, EOG added more premium locations than it drilled, resulting in a net increase to its premium drilling opportunities, and the firm expects to do the same with its double premium inventory.",
    "output": "[Cause] EOG added more premium locations than it drilled [Relation] cause [Effect] a net increase to its premium drilling opportunities",
    "gold": "[Cause]  EOG added more premium locations than it drilled [Relation] cause [Effect] a net increase to its premium drilling opportunities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are modestly increasing our fair value estimate to $34.50 per share from $34 due to additional cash flow generated since our last update.",
    "output": "[Cause] additional cash flow generated since our last update [Relation] cause [Effect] We are modestly increasing our fair value estimate to $34.50 per share from $34",
    "gold": "[Cause] additional cash flow generated since our last update [Relation] cause [Effect] We are modestly increasing our fair value estimate to $34.50 per share from $34",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We now expect greater revenue growth from subscriber additions at the direct-to-consumer platforms which will benefit from a greater library and increased content investment.",
    "output": "[Cause] a greater library and increased content investment [Relation] enable [Effect] greater revenue growth from subscriber additions at the direct-to-consumer platforms",
    "gold": "[Cause] We now expect greater revenue growth from subscriber additions at the direct-to-consumer platforms [Relation] enable [Effect]  benefit from a greater library and increased content investment.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We anticipate a strong top line rebound accompanied by margin expansion in 2021 as Littelfuse's end markets recover from the effects of COVID-19.",
    "output": "[Cause] Littelfuse's end markets recover from the effects of COVID-19 [Relation] cause [Effect] a strong top line rebound accompanied by margin expansion in 2021",
    "gold": "[Cause]  Littelfuse's end markets recover from the effects of COVID-19 [Relation] cause [Effect] a strong top line rebound accompanied by margin expansion in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, regulated assets are subject to economic regulation risk in which regulators or other government entities may change or reject proposed or existing projects, including permits and regulatory approvals for new projects.",
    "output": "[Cause] regulators or other government entities may change or reject proposed or existing projects, including permits and regulatory approvals for new projects [Relation] cause [Effect] regulated assets are subject to economic regulation risk",
    "gold": "[Cause] regulators or other government entities may change or reject proposed or existing projects, including permits and regulatory approvals for new projects [Relation] cause [Effect] regulated assets are subject to economic regulation risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The carriers enter long-term leases with Crown that include rent escalators (annual increases of about 3%), giving the business a highly visible and stable revenue stream.",
    "output": "[Cause] The carriers enter long-term leases with Crown that include rent escalators (annual increases of about 3%) [Relation] enable [Effect] the business a highly visible and stable revenue stream",
    "gold": "[Cause] The carriers enter long-term leases with Crown that include rent escalators (annual increases of about 3%) [Relation] enable [Effect] the business a highly visible and stable revenue stream",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Intel's 7-nm process delay until 2023 means its chips on that process will be at least a year behind chips made on a comparable process at TSMC.",
    "output": "[Cause] Intel's 7-nm process delay until 2023 [Relation] cause [Effect] its chips on that process will be at least a year behind chips made on a comparable process at TSMC",
    "gold": "[Cause] Intel's 7-nm process delay until 2023 [Relation] cause [Effect]  its chips on that process will be at least a year behind chips made on a comparable process at TSMC",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The cost to price each individual single bond is fixed, but that data point can be sold to any number of customers, giving a cost advantage to market participants with an existing user base since they will be able to spread their costs across a broader revenue base.",
    "output": "[Cause] data point can be sold to any number of customers [Relation] enable [Effect] a cost advantage to market participants with an existing user base",
    "gold": "[Cause] data point can be sold to any number of customers [Relation] enable [Effect]  a cost advantage to market participants with an existing user base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The cost to price each individual single bond is fixed, but that data point can be sold to any number of customers, giving a cost advantage to market participants with an existing user base since they will be able to spread their costs across a broader revenue base.",
    "output": "[Cause] data point can be sold to any number of customers [Relation] enable [Effect] a cost advantage to market participants with an existing user base",
    "gold": "[Cause] data point can be sold to any number of customers [Relation] cause [Effect] they will be able to spread their costs across a broader revenue base",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Ultimately, it aims to arrive in stronger financial shape with a much smaller debt load through a combination of lower capital expenditures, reduced operating expenses, growth in production, and divestments.",
    "output": "[Cause] a much smaller debt load through a combination of lower capital expenditures, reduced operating expenses, growth in production, and divestments [Relation] enable [Effect] arrive in stronger financial shape",
    "gold": "[Cause] a much smaller debt load through a combination of lower capital expenditures, reduced operating expenses, growth in production, and divestments [Relation] cause [Effect] arrive in stronger financial shape",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Motorola Solutions' history of safety and reliability is an additional intangible that customers recognize, adding to the firm's other intangible assets of research expertise and unique institutional knowledge.",
    "output": "[Cause] Motorola Solutions' history of safety and reliability is an additional intangible that customers recognize [Relation] enable [Effect] adding to the firm's other intangible assets of research expertise and unique institutional knowledge",
    "gold": "[Cause] Motorola Solutions' history of safety and reliability is an additional intangible that customers recognize [Relation] cause [Effect] adding to the firm's other intangible assets of research expertise and unique institutional knowledge",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Toronto-Dominion has consistently had one of the lower percentages of wholesale funding among the major Canadian banks. This has kept funding costs low, leading to consistently better net interest margins, even as credit costs remained well in line with the other Canadian banks.",
    "output": "[Cause] Toronto-Dominion has consistently had one of the lower percentages of wholesale funding among the major Canadian banks [Relation] cause [Effect] kept funding costs low, leading to consistently better net interest margins, even as credit costs remained well in line with the other Canadian banks",
    "gold": "[Cause] Toronto-Dominion has consistently had one of the lower percentages of wholesale funding among the major Canadian banks [Relation] cause [Effect]  kept funding costs low, leading to consistently better net interest margins, even as credit costs remained well in line with the other Canadian banks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Meanwhile, Valero has invested in logistics assets and processing capacity to capture discounts Oil & Gas Refining & Marketingassociated with domestic light crude production.",
    "output": "[Cause] Valero has invested in logistics assets and processing capacity [Relation] enable [Effect] capture discounts Oil & Gas Refining & Marketingassociated with domestic light crude production",
    "gold": "[Cause] Valero has invested in logistics assets and processing capacity [Relation] enable [Effect] capture discounts Oil & Gas Refining & Marketingassociated with domestic light crude production",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nordson strives to create added value for customers by making highly engineered and customizable equipment that reduces a client's total cost of ownership by improving efficiency and reliability, reducing unscheduled downtime, and minimizing wasted material.",
    "output": "[Cause] Nordson strives to create added value for customers by making highly engineered and customizable equipment [Relation] enable [Effect] reduces a client's total cost of ownership by improving efficiency and reliability, reducing unscheduled downtime, and minimizing wasted material",
    "gold": "[Cause] making highly engineered and customizable equipment that reduces a client's total cost of ownership by improving efficiency and reliability, reducing unscheduled downtime, and minimizing wasted material [Relation] enable [Effect]  create added value for customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Teck possesses some assets, such as Red Dog (zinc/lead) and Antamina (copper/zinc), that should generate excellent returns on capital for many years to come, reflecting stellar geology and enviable cost-curve positions.",
    "output": "[Cause] Teck possesses some assets [Relation] enable [Effect] generate excellent returns on capital for many years to come",
    "gold": "[Cause] Teck possesses some assets, such as Red Dog (zinc/lead) and Antamina (copper/zinc) [Relation] cause [Effect] reflecting stellar geology and enviable cost-curve positions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Hormel has demonstrated an ability to innovate products for this channel, leveraging insights from its retail operations, making it a valued partner to food-service operators.",
    "output": "[Cause] Hormel has demonstrated an ability to innovate products for this channel, leveraging insights from its retail operations [Relation] enable [Effect] it a valued partner to food-service operators",
    "gold": "[Cause] Hormel has demonstrated an ability to innovate products for this channel, leveraging insights from its retail operations [Relation] enable [Effect] it a valued partner to food-service operators",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Losing the routing, analytics, and communication capabilities provided by CXOne would lead to a poorer customer experience and employee frustration, thus supporting switching costs for NICE.",
    "output": "[Cause] Losing the routing, analytics, and communication capabilities provided by CXOne [Relation] cause [Effect] a poorer customer experience and employee frustration",
    "gold": "[Cause] Losing the routing, analytics, and communication capabilities provided by CXOne [Relation] cause [Effect] a poorer customer experience and employee frustration",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Losing the routing, analytics, and communication capabilities provided by CXOne would lead to a poorer customer experience and employee frustration, thus supporting switching costs for NICE.",
    "output": "[Cause] a poorer customer experience and employee frustration [Relation] cause [Effect] supporting switching costs for NICE",
    "gold": "[Cause] a poorer customer experience and employee frustration [Relation] cause [Effect] supporting switching costs for NICE",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lastly, while typical consumer products companies, and even tobacco companies earlier in their history, have built brand recognition through advertising campaigns, we expect cannabis will face the same if not stricter limitations to tobacco in advertising in the U.S.",
    "output": "[Cause] not stricter limitations to tobacco in advertising in the U.S [Relation] cause [Effect] cannabis will face the same",
    "gold": "[Cause] not stricter limitations to tobacco in advertising in the U.S [Relation] cause [Effect]  cannabis will face the same",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although this level of profitability exceeds the company's trailing 10-year average, we believe Carpenter will deliver much improved profitability as improving commercial aircraft build rates drive higher volumes and an improved product mix.",
    "output": "[Cause] improving commercial aircraft build rates [Relation] enable [Effect] higher volumes and an improved product mix",
    "gold": "[Cause]  improving commercial aircraft build rates [Relation] cause [Effect] higher volumes and an improved product mix",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although this level of profitability exceeds the company's trailing 10-year average, we believe Carpenter will deliver much improved profitability as improving commercial aircraft build rates drive higher volumes and an improved product mix.",
    "output": "[Cause] improving commercial aircraft build rates [Relation] enable [Effect] higher volumes and an improved product mix",
    "gold": "[Cause] higher volumes and an improved product mix [Relation] enable [Effect]  Carpenter will deliver much improved profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Kroger's data-related efforts should play a large role in its digital transformation, fueling promotional efforts and customer engagement while informing assortment and providing salable insights as non-grocery revenue streams.",
    "output": "[Cause] fueling promotional efforts and customer engagement while informing assortment and providing salable insights as non-grocery revenue streams [Relation] enable [Effect] Kroger's data-related efforts should play a large role in its digital transformation",
    "gold": "[Cause] fueling promotional efforts and customer engagement while informing assortment and providing salable insights as non-grocery revenue streams [Relation] cause [Effect] Kroger's data-related efforts should play a large role in its digital transformation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But we also think innovation will be key to prompting consumer visitation to aisles throughout the grocery store long term and don't believe the pandemic will drive a lasting shift in this regard.",
    "output": "[Cause] innovation [Relation] enable [Effect] prompting consumer visitation to aisles throughout the grocery store long term",
    "gold": "[Cause] innovation [Relation] enable [Effect] prompting consumer visitation to aisles throughout the grocery store long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Therefore, having high-quality tenants improves the quality of the mall, which traditionally has attracted more higher-quality tenants to the mall.",
    "output": "[Cause] having high-quality tenants [Relation] enable [Effect] improves the quality of the mall",
    "gold": "[Cause] having high-quality tenants [Relation] enable [Effect] improves the quality of the mall",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Therefore, having high-quality tenants improves the quality of the mall, which traditionally has attracted more higher-quality tenants to the mall.",
    "output": "[Cause] having high-quality tenants [Relation] enable [Effect] improves the quality of the mall",
    "gold": "[Cause] improves the quality of the mall [Relation] enable [Effect] attracted more higher-quality tenants to the mall",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Like competitor Arrow Electronics, Avnet has a broad range of components and provides various value-added services to help customers develop new products, improve time to market, and reduce inefficiencies.",
    "output": "[Cause] Avnet has a broad range of components and provides various value-added services [Relation] enable [Effect] help customers develop new products, improve time to market, and reduce inefficiencies",
    "gold": "[Cause] Avnet has a broad range of components and provides various value-added services [Relation] enable [Effect] help customers develop new products, improve time to market, and reduce inefficiencies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although recent efforts to streamline operations and optimize footprint have improved operating margins in the LGM, IHM, and RBIS segments, we believe competitors can adopt these changes. As a result, we think today's recent period of excess profitability will fall back toward management's guidance in the long run.",
    "output": "[Cause] Although recent efforts to streamline operations and optimize footprint have improved operating margins in the LGM, IHM, and RBIS segments, we believe competitors can adopt these changes [Relation] cause [Effect] today's recent period of excess profitability will fall back toward management's guidance in the long run",
    "gold": "[Cause] Although recent efforts to streamline operations and optimize footprint have improved operating margins in the LGM, IHM, and RBIS segments, we believe competitors can adopt these changes [Relation] cause [Effect] today's recent period of excess profitability will fall back toward management's guidance in the long run",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the stores are only a small portion of US Foods' overall business, so they don't make a meaningful impact.",
    "output": "[Cause] the stores are only a small portion of US Foods' overall business [Relation] cause [Effect] they don't make a meaningful impact",
    "gold": "[Cause] the stores are only a small portion of US Foods' overall business [Relation] cause [Effect] they don't make a meaningful impact",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we believe Wayfair benefits from low overhead thanks to its almost 100% online presence, we still see higher customer acquisition cost risk as rivals, including other online players (like Amazon) and physical retailers (Home Depot/Lowe's), push harder into the home furnishing category.",
    "output": "[Cause] rivals, including other online players (like Amazon) and physical retailers (Home Depot/Lowe's), push harder into the home furnishing category [Relation] cause [Effect] higher customer acquisition cost risk",
    "gold": "[Cause] While we believe Wayfair benefits from low overhead thanks to its almost 100% online presence [Relation] cause [Effect] we still see higher customer acquisition cost risk as rivals, including other online players (like Amazon) and physical retailers (Home Depot/Lowe's), push harder into the home furnishing category",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect that Fox will try work with more independent studios like Lionsgate or Sony Pictures and will look to finance some of its productions in order to retain syndication and streaming rights, much like Netflix did early on in its pivot toward original content.",
    "output": "[Cause] Fox will try work with more independent studios like Lionsgate or Sony Pictures and will look to finance some of its productions [Relation] enable [Effect] retain syndication and streaming rights",
    "gold": "[Cause] Fox will try work with more independent studios like Lionsgate or Sony Pictures and will look to finance some of its productions [Relation] enable [Effect] retain syndication and streaming rights",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company is less exposed than during the Great Recession, when it only sold motor homes, because towables typically do not fall as hard in volume in downturns as motor homes and the cost structure is about 85% variable.",
    "output": "[Cause] towables typically do not fall as hard in volume in downturns as motor homes and the cost structure is about 85% variable [Relation] cause [Effect] The company is less exposed than during the Great Recession, when it only sold motor homes",
    "gold": "[Cause] towables typically do not fall [Relation] cause [Effect] hard in volume in downturns as motor homes and the cost structure is about 85% variable",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We project flat sales 2020 (versus 4% decrease prior), as healthy second-half growth (averaging a high-single-digit pace) helps mitigate store closure losses in the first half.",
    "output": "[Cause] healthy second-half growth (averaging a high-single-digit pace) helps mitigate store closure losses in the first half [Relation] cause [Effect] flat sales 2020 (versus 4% decrease prior)",
    "gold": "[Cause] healthy second-half growth (averaging a high-single-digit pace) helps mitigate store closure losses in the first half [Relation] cause [Effect] flat sales 2020 (versus 4% decrease prior)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Though the firm's competitors are primarily legacy security and networking vendors that built their businesses on hardware appliances, Zscaler was built as a cloud-native company, eschewing the appliance approach and incubating software solutions consistent with architectural shifts away from centralized data centers and on-premises software. Consequently, we believe Zscaler's business model has become conducive to various avenues of switching costs that are prevalent among our enterprise software and cybersecurity coverage.",
    "output": "[Cause] Though the firm's competitors are primarily legacy security and networking vendors that built their businesses on hardware appliances, Zscaler was built as a cloud-native company, eschewing the appliance approach and incubating software solutions consistent with architectural shifts away from centralized data centers and on-premises software [Relation] cause [Effect] Zscaler's business model has become conducive to various avenues of switching costs that are prevalent among our enterprise software and cybersecurity coverage",
    "gold": "[Cause] Though the firm's competitors are primarily legacy security and networking vendors that built their businesses on hardware appliances, Zscaler was built as a cloud-native company, eschewing the appliance approach and incubating software solutions consistent with architectural shifts away from centralized data centers and on-premises software [Relation] cause [Effect] Zscaler's business model has become conducive to various avenues of switching costs that are prevalent among our enterprise software and cybersecurity coverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management favors owned stores over franchised locations for growth, which should restrain margins given the low cost associated with franchise royalties (worthwhile as Valvoline will capture more service-related profit dollars).",
    "output": "[Cause] Management favors owned stores over franchised locations for growth [Relation] cause [Effect] restrain margins",
    "gold": "[Cause] Management favors owned stores over franchised locations for growth [Relation] cause [Effect] restrain margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management favors owned stores over franchised locations for growth, which should restrain margins given the low cost associated with franchise royalties (worthwhile as Valvoline will capture more service-related profit dollars).",
    "output": "[Cause] Management favors owned stores over franchised locations for growth [Relation] cause [Effect] restrain margins",
    "gold": "[Cause]  the low cost associated with franchise royalties [Relation] cause [Effect] restrain margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Idex's lean manufacturing prowess allows it to effectively operate in a high mix and low volume environment, offering customers a wide variety of highly engineered products that are configurable or customizable.",
    "output": "[Cause] Idex's lean manufacturing prowess [Relation] enable [Effect] effectively operate in a high mix and low volume environment",
    "gold": "[Cause] Idex's lean manufacturing prowess [Relation] enable [Effect] effectively operate in a high mix and low volume environment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The securitization market is also fairly competitive, and given that ADS does not have the other offerings of a normal bank, it can make margins tighter.",
    "output": "[Cause] ADS does not have the other offerings of a normal bank [Relation] cause [Effect] it can make margins tighter",
    "gold": "[Cause]  ADS does not have the other offerings of a normal bank [Relation] cause [Effect]  it can make margins tighter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, focused entry into the OTA market from Google, Facebook, Alibaba, Amazon, and others could double the current handful of players that have dominant scale, leading to a meaningful impact on profitability.",
    "output": "[Cause] focused entry into the OTA market from Google, Facebook, Alibaba, Amazon, and others [Relation] cause [Effect] double the current handful of players that have dominant scale",
    "gold": "[Cause] focused entry into the OTA market from Google, Facebook, Alibaba, Amazon, and others [Relation] cause [Effect] double the current handful of players that have dominant scale",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, focused entry into the OTA market from Google, Facebook, Alibaba, Amazon, and others could double the current handful of players that have dominant scale, leading to a meaningful impact on profitability.",
    "output": "[Cause] double the current handful of players that have dominant scale [Relation] cause [Effect] a meaningful impact on profitability",
    "gold": "[Cause] double the current handful of players that have dominant scale [Relation] cause [Effect] a meaningful impact on profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If carbon taxes are enacted, airlines would likely pass the costs on to consumers, which we anticipate would reduce aggregate travel demand.",
    "output": "[Cause] carbon taxes are enacted [Relation] cause [Effect] airlines would likely pass the costs on to consumers",
    "gold": "[Cause] If carbon taxes are enacted, airlines would likely pass the costs on to consumers [Relation] cause [Effect] would reduce aggregate travel demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "High-quality anchors, in-line tenants, and entertainment options draw significant foot traffic to a retail center, which makes placing a store in that location attractive to other retailers as their store would benefit from the large number of people already heading to the shopping center.",
    "output": "[Cause] their store would benefit from the large number of people already heading to the shopping center [Relation] cause [Effect] placing a store in that location attractive to other retailers",
    "gold": "[Cause] their store would benefit from the large number of people already heading to the shopping center [Relation] cause [Effect] High-quality anchors, in-line tenants, and entertainment options draw significant foot traffic to a retail center",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "High-quality anchors, in-line tenants, and entertainment options draw significant foot traffic to a retail center, which makes placing a store in that location attractive to other retailers as their store would benefit from the large number of people already heading to the shopping center.",
    "output": "[Cause] their store would benefit from the large number of people already heading to the shopping center [Relation] cause [Effect] placing a store in that location attractive to other retailers",
    "gold": "[Cause] High-quality anchors, in-line tenants, and entertainment options draw significant foot traffic to a retail center [Relation] enable [Effect] placing a store in that location attractive to other retailers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To reduce costs by increasing scale, automakers have been increasing the use of world vehicle programs, where much of the underlying components are the same no matter where an original equipment manufacturer assembles the vehicle.",
    "output": "[Cause] reduce costs by increasing scale [Relation] cause [Effect] automakers have been increasing the use of world vehicle programs",
    "gold": "[Cause] automakers have been increasing the use of world vehicle programs, where much of the underlying components are the same no matter where an original equipment manufacturer assembles the vehicle [Relation] enable [Effect] reduce costs by increasing scale",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While smaller than Visa or Mastercard, American Express' network has historically been able to charge rates that match or even exceed its larger rivals' due to the higher spend rates on the company's consumer cards and its strong competitive positioning in commercial payments.",
    "output": "[Cause] the higher spend rates on the company's consumer cards and its strong competitive positioning in commercial payments [Relation] cause [Effect] American Express' network has historically been able to charge rates that match or even exceed its larger rivals'",
    "gold": "[Cause] the higher spend rates on the company's consumer cards and its strong competitive positioning in commercial payments [Relation] cause [Effect] American Express' network has historically been able to charge rates that match or even exceed its larger rivals'",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project the firm can reduce expenses, offsetting the impact of declining or stagnant revenue in many markets, while also gaining efficiencies in Germany, pushing the EBITDA margin up to about 34% by fiscal 2025 from 33% in fiscal 2020.",
    "output": "[Cause] the firm can reduce expenses [Relation] enable [Effect] offsetting the impact of declining or stagnant revenue in many markets, while also gaining efficiencies in Germany, pushing the EBITDA margin up to about 34% by fiscal 2025 from 33% in fiscal 2020",
    "gold": "[Cause] the firm can reduce expenses [Relation] enable [Effect] offsetting the impact of declining or stagnant revenue in many markets, while also gaining efficiencies in Germany, pushing the EBITDA margin up to about 34% by fiscal 2025 from 33% in fiscal 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, since the onset of the pandemic, gum sales have been dismal (down double-digits depending on the geographic region), attributable to work-from-home and social-distancing mandates.",
    "output": "[Cause] work-from-home and social-distancing mandates [Relation] cause [Effect] gum sales have been dismal",
    "gold": "[Cause] the onset of the pandemic [Relation] cause [Effect] gum sales have been dismal",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, since the onset of the pandemic, gum sales have been dismal (down double-digits depending on the geographic region), attributable to work-from-home and social-distancing mandates.",
    "output": "[Cause] work-from-home and social-distancing mandates [Relation] cause [Effect] gum sales have been dismal",
    "gold": "[Cause] work-from-home and social-distancing mandates [Relation] cause [Effect] gum sales have been dismal",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our uncertainty rating remains high to recognize the upside potential in the near term for COVID-19-related demand and also downside risks in the longer term related to product concentration and innovation threats in the technology-driven life science and molecular diagnostic markets.",
    "output": "[Cause] recognize the upside potential in the near term for COVID-19-related demand and also downside risks in the longer term related to product concentration and innovation threats in the technology-driven life science and molecular diagnostic markets [Relation] cause [Effect] Our uncertainty rating remains high",
    "gold": "[Cause] recognize the upside potential in the near term for COVID-19-related demand and also downside risks in the longer term related to product concentration and innovation threats in the technology-driven life science and molecular diagnostic markets [Relation] cause [Effect] Our uncertainty rating remains high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, ON Semiconductor is a relatively smaller player in the broader chip market, despite its power capabilities, meaning it faces continual competition.",
    "output": "[Cause] ON Semiconductor is a relatively smaller player in the broader chip market [Relation] cause [Effect] it faces continual competition",
    "gold": "[Cause] ON Semiconductor is a relatively smaller player in the broader chip market [Relation] cause [Effect]  it faces continual competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Any such dramatic shift in the automotive industry could threaten competitive advantages in the aftermarket part industry, as they would lead to cost deleveraging as well as a reduction in the power of brand intangible assets.",
    "output": "[Cause] Any such dramatic shift in the automotive industry [Relation] cause [Effect] threaten competitive advantages in the aftermarket part industry",
    "gold": "[Cause] Any such dramatic shift in the automotive industry [Relation] cause [Effect] threaten competitive advantages in the aftermarket part industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, in the medium term, we forecast more than 4% revenue growth and EBIT margin reaching 16.1%, driven by productivity gains and higher-margin digital service contracts.",
    "output": "[Cause] productivity gains and higher-margin digital service contracts [Relation] cause [Effect] more than 4% revenue growth and EBIT margin reaching 16.1%",
    "gold": "[Cause] productivity gains and higher-margin digital service contracts [Relation] enable [Effect] more than 4% revenue growth and EBIT margin reaching 16.1%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Globally, American Tower averaged 1.9 tenants per tower at the end of 2017, the last time it updated that number.",
    "output": "[Cause] the last time it updated that number [Relation] cause [Effect] American Tower averaged 1.9 tenants per tower at the end of 2017",
    "gold": "[Cause] the last time it updated that number [Relation] cause [Effect] American Tower averaged 1.9 tenants per tower at the end of 2017",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since its massive restructuring, which started in 2011, the bank has emerged as a low-risk domestic retail and commercial bank.",
    "output": "[Cause] its massive restructuring [Relation] cause [Effect] the bank has emerged as a low-risk domestic retail and commercial bank",
    "gold": "[Cause] its massive restructuring [Relation] cause [Effect] the bank has emerged as a low-risk domestic retail and commercial bank",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through the creation of the Lennar Multifamily Venture, the company will use internal and third-party capital to build and hold its income-producing rental assets.",
    "output": "[Cause] the creation of the Lennar Multifamily Venture [Relation] enable [Effect] the company will use internal and third-party capital",
    "gold": "[Cause] the creation of the Lennar Multifamily Venture [Relation] enable [Effect] the company will use internal and third-party capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through the creation of the Lennar Multifamily Venture, the company will use internal and third-party capital to build and hold its income-producing rental assets.",
    "output": "[Cause] the company will use internal and third-party capital [Relation] enable [Effect] build and hold its income-producing rental assets",
    "gold": "[Cause] the company will use internal and third-party capital [Relation] enable [Effect] build and hold its income-producing rental assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The World Health Organization, or WHO, has classified processed meats (ham, salami, bacon, sausage, hot dogs) as a Group 1 carcinogen, meaning there is strong evidence that these processed meats cause colorectal cancer.",
    "output": "[Cause] The World Health Organization, or WHO, has classified processed meats (ham, salami, bacon, sausage, hot dogs) as a Group 1 carcinogen [Relation] cause [Effect] there is strong evidence that these processed meats cause colorectal cancer",
    "gold": "[Cause] hese processed meats [Relation] cause [Effect] colorectal cancer",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, high perceived friction from changing core systems is not theoretical, as Tyler enjoys among the highest retention in the entire software industry.",
    "output": "[Cause] Tyler enjoys among the highest retention in the entire software industry [Relation] cause [Effect] high perceived friction from changing core systems is not theoretical",
    "gold": "[Cause] Tyler enjoys among the highest retention in the entire software industry [Relation] cause [Effect] high perceived friction from changing core systems is not theoretical",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Pinterest is also using QR codes along with its own version, referred to as Pincodes, to help consumers not only receive more information about products while in stores but also find similar products possibly provided by other retailers or brands.",
    "output": "[Cause] Pinterest is also using QR codes along with its own version, referred to as Pincodes [Relation] enable [Effect] help consumers not only receive more information about products while in stores but also find similar products possibly provided by other retailers or brands",
    "gold": "[Cause] Pinterest is also using QR codes along with its own version, referred to as Pincodes [Relation] enable [Effect] help consumers not only receive more information about products while in stores but also find similar products possibly provided by other retailers or brands",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe such expansion should be accompanied by continued same-store sales growth near the firm's 2.7% five-year average as remodeling and relocation efforts help offset competitive pressures.",
    "output": "[Cause] remodeling and relocation efforts help offset competitive pressures [Relation] cause [Effect] such expansion should be accompanied by continued same-store sales growth near the firm's 2.7% five-year average",
    "gold": "[Cause]  remodeling and relocation efforts help offset competitive pressures [Relation] cause [Effect] We believe such expansion should be accompanied by continued same-store sales growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As with most integrated oil firms, a deteriorating outlook for oil and natural gas prices would pressure Canadian Natural's profitability, reduce cash flows, and drive up financial leverage.",
    "output": "[Cause] a deteriorating outlook for oil and natural gas prices [Relation] cause [Effect] pressure Canadian Natural's profitability, reduce cash flows, and drive up financial leverage",
    "gold": "[Cause] a deteriorating outlook for oil and natural gas prices [Relation] cause [Effect] pressure Canadian Natural's profitability, reduce cash flows, and drive up financial leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, Moderna has achieved therapeutic levels of antibody protein in its chikungunya program, which lowers overall risk in its therapeutic proteins pipeline and could allow the firm to compete in the broader $200 billion secreted therapeutic protein market.",
    "output": "[Cause] Moderna has achieved therapeutic levels of antibody protein in its chikungunya program [Relation] cause [Effect] lowers overall risk in its therapeutic proteins pipeline",
    "gold": "[Cause] Moderna has achieved therapeutic levels of antibody protein in its chikungunya program [Relation] enable [Effect] the firm to compete in the broader $200 billion secreted therapeutic protein market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, Moderna has achieved therapeutic levels of antibody protein in its chikungunya program, which lowers overall risk in its therapeutic proteins pipeline and could allow the firm to compete in the broader $200 billion secreted therapeutic protein market.",
    "output": "[Cause] Moderna has achieved therapeutic levels of antibody protein in its chikungunya program [Relation] enable [Effect] the firm to compete in the broader $200 billion secreted therapeutic protein market",
    "gold": "[Cause] Moderna has achieved therapeutic levels of antibody protein in its chikungunya program [Relation] cause [Effect] lowers overall risk in its therapeutic proteins pipeline",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Like HCM, we think FINS' switching costs are derived from significant friction in extracting data and retraining employees on the user experience of a competing software.",
    "output": "[Cause] significant friction in extracting data and retraining employees on the user experience of a competing software [Relation] cause [Effect] FINS' switching costs",
    "gold": "[Cause] significant friction in extracting data and retraining employees on the user experience of a competing software [Relation] cause [Effect] FINS' switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Farmers are becoming more sophisticated, realizing the benefits of the most advanced equipment and the latest in digital technology. This is one reason we believe that the agricultural equipment division has been able to produce an average 9.3% operating margin between 2011 and 2020.",
    "output": "[Cause] Farmers are becoming more sophisticated, realizing the benefits of the most advanced equipment and the latest in digital technology [Relation] cause [Effect] the agricultural equipment division has been able to produce an average 9.3% operating margin between 2011 and 2020",
    "gold": "[Cause] Farmers are becoming more sophisticated, realizing the benefits of the most advanced equipment and the latest in digital technology [Relation] cause [Effect]  the agricultural equipment division has been able to produce an average 9.3% operating margin between 2011 and 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we see Lennox's service-based NAS business and growing emergency replacement product line as more resilient offerings, a downturn would nonetheless weaken the company's financial performance.",
    "output": "[Cause] Lennox's service-based NAS business and growing emergency replacement product line as more resilient offerings [Relation] cause [Effect] weaken the company's financial performance",
    "gold": "[Cause] more resilient offerings [Relation] enable [Effect] Lennox's service-based NAS business and growing emergency replacement product line",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although we see Lennox's service-based NAS business and growing emergency replacement product line as more resilient offerings, a downturn would nonetheless weaken the company's financial performance.",
    "output": "[Cause] a downturn [Relation] prevent [Effect] the company's financial performance",
    "gold": "[Cause]  a downturn [Relation] prevent [Effect] the company's financial performance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Once an apartment building reaches a fully stabilized occupancy level, the apartment manager can increase rent on existing tenants, knowing that the marginal tenant who would move out because of higher rent can be replaced by the excess demand for the units.",
    "output": "[Cause] higher rent can be replaced by the excess demand for the units [Relation] cause [Effect] the marginal tenant who would move out",
    "gold": "[Cause]  higher rent can be replaced by the excess demand for the units [Relation] cause [Effect] the apartment manager can increase rent on existing tenants",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The COVID-19 pandemic highlights the geopolitical risk airlines face, as many global consumers of air travel are affected by a travel-preventing stay-at-home orders.",
    "output": "[Cause] many global consumers of air travel are affected by a travel-preventing stay-at-home orders [Relation] cause [Effect] The COVID-19 pandemic highlights the geopolitical risk airlines face",
    "gold": "[Cause] many global consumers of air travel are affected by a travel-preventing stay-at-home orders [Relation] cause [Effect] The COVID-19 pandemic highlights the geopolitical risk airlines face",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "More specifically, Mondelez targets 3%-plus sales growth long term as it works to extend the distribution of its fare and reinvest in new products aligned with consumer trends at home and abroad.",
    "output": "[Cause] it works to extend the distribution of its fare and reinvest in new products aligned with consumer trends at home and abroad [Relation] cause [Effect] Mondelez targets 3%-plus sales growth long term",
    "gold": "[Cause]  it works to extend the distribution of its fare and reinvest in new products aligned with consumer trends at home and abroad [Relation] cause [Effect] Mondelez targets 3%-plus sales growth long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe high uncertainty exists, as Myriad's broader business may parallel the trend we experienced for Myriad's hereditary cancer testing business in the longer term.",
    "output": "[Cause] Myriad's broader business may parallel the trend we experienced for Myriad's hereditary cancer testing business in the longer term [Relation] cause [Effect] high uncertainty exists",
    "gold": "[Cause] Myriad's broader business may parallel the trend we experienced for Myriad's hereditary cancer testing business in the longer term [Relation] cause [Effect] high uncertainty exists",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nevertheless, we believe the provincial nature of most beer brands restricts the leverageability of global scale in the brewing industry.",
    "output": "[Cause] the provincial nature of most beer brands [Relation] prevent [Effect] the leverageability of global scale in the brewing industry",
    "gold": "[Cause] the provincial nature of most beer brands [Relation] prevent [Effect] the leverageability of global scale in the brewing industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, we expect the market to support some level of increased competition over the next several years, as the travel booking market remains large, at $1.8 trillion (based on pre-COVID-19 demand levels), and online penetration of the travel market remains low, at 45%.",
    "output": "[Cause] the travel booking market remains large, at $1.8 trillion (based on pre-COVID-19 demand levels), and online penetration of the travel market remains low, at 45% [Relation] cause [Effect] the market to support some level of increased competition over the next several years",
    "gold": "[Cause]  the travel booking market remains large, at $1.8 trillion (based on pre-COVID-19 demand levels), and online penetration of the travel market remains low, at 45% [Relation] cause [Effect]  the market to support some level of increased competition over the next several years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Recently, management has indicated its commitment to continue to reinvest savings into the business, which leads us to expect that PNC will not be developing a material operating efficiency advantage over the medium term.",
    "output": "[Cause] management has indicated its commitment to continue to reinvest savings into the business [Relation] cause [Effect] PNC will not be developing a material operating efficiency advantage over the medium term",
    "gold": "[Cause] management has indicated its commitment to continue to reinvest savings into the business [Relation] cause [Effect]  PNC will not be developing a material operating efficiency advantage over the medium term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, the club channel provides an attractive means for Walmart to cater to business customers, allowing access to wholesale pricing and a variety of business services (Costco offers similar benefits).",
    "output": "[Cause] the club channel provides an attractive means for Walmart to cater to business customers [Relation] enable [Effect] access to wholesale pricing and a variety of business services",
    "gold": "[Cause] the club channel provides an attractive means for Walmart to cater to business customers [Relation] enable [Effect] access to wholesale pricing and a variety of business services",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The physical infrastructure it relies on makes its business prone to disruption from natural disasters, but we think the risk of widespread catastrophe is low right now.",
    "output": "[Cause] The physical infrastructure it relies on [Relation] cause [Effect] its business prone to disruption from natural disasters",
    "gold": "[Cause] The physical infrastructure it relies on [Relation] cause [Effect]  its business prone to disruption from natural disasters",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although switching costs are negligible in the sector, we believe Walmart's ability to use its scale to hold down costs and leverage its retailer relationships and established low-cost brand should protect returns for decades to come.",
    "output": "[Cause] Walmart's ability to use its scale to hold down costs and leverage its retailer relationships and established low-cost brand [Relation] enable [Effect] protect returns for decades to come",
    "gold": "[Cause] Walmart's ability to use its scale to hold down costs and leverage its retailer relationships and established low-cost brand [Relation] cause [Effect] protect returns for decades to come",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These switching costs are partly supported by familiarity, in which clients prefer the continuity of working with the same trusted CRO.",
    "output": "[Cause] clients prefer the continuity of working with the same trusted CRO [Relation] cause [Effect] These switching costs are partly supported by familiarity",
    "gold": "[Cause] These switching costs are partly supported by familiarity [Relation] enable [Effect] clients prefer the continuity of working with the same trusted CRO",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This will allow investors to be rewarded through rising dividends (more than 3% yield) and a share-buyback program, which we expect will be tabled over the near term as Hasbro restores its leverage targets to investment-grade after financing the EOne acquisition and plays defense against COVID-19.",
    "output": "[Cause] Hasbro restores its leverage targets to investment-grade after financing the EOne acquisition and plays defense against COVID-19 [Relation] cause [Effect] investors to be rewarded through rising dividends (more than 3% yield) and a share-buyback program",
    "gold": "[Cause] rising dividends (more than 3% yield) and a share-buyback program [Relation] enable [Effect] investors to be rewarded",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Throughout the Great Recession, the company kept its head above water via impressive rate discipline and steadfast investment in network capacity.",
    "output": "[Cause] impressive rate discipline and steadfast investment in network capacity [Relation] enable [Effect] the company kept its head above water",
    "gold": "[Cause] impressive rate discipline and steadfast investment in network capacity [Relation] enable [Effect] the company kept its head above water",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As scientists and technicians travel up the learning curve on new instruments, testing reproducibility and consistency may suffer, so end users probably would need a very significant technology improvement to induce them to switch providers at the end of a tool's useful life.",
    "output": "[Cause] scientists and technicians travel up the learning curve on new instruments [Relation] cause [Effect] testing reproducibility and consistency may suffer",
    "gold": "[Cause] scientists and technicians travel up the learning curve on new instruments [Relation] cause [Effect] testing reproducibility and consistency may suffer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As scientists and technicians travel up the learning curve on new instruments, testing reproducibility and consistency may suffer, so end users probably would need a very significant technology improvement to induce them to switch providers at the end of a tool's useful life.",
    "output": "[Cause] end users probably would need a very significant technology improvement [Relation] enable [Effect] them to switch providers at the end of a tool's useful life",
    "gold": "[Cause] end users probably would need a very significant technology improvement [Relation] enable [Effect]  them to switch providers at the end of a tool's useful life",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Average natural gas prices in China are higher than Henry Hub pricing, given the negotiated nature of the pricing and with the government setting prices.",
    "output": "[Cause] the negotiated nature of the pricing and with the government setting prices [Relation] cause [Effect] Average natural gas prices in China are higher than Henry Hub pricing",
    "gold": "[Cause]  the negotiated nature of the pricing and with the government setting prices [Relation] cause [Effect] Average natural gas prices in China are higher than Henry Hub pricing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, our view is that Hanes can overcome some of these issues and slightly improve margins in future years as cost-saving initiatives take hold.",
    "output": "[Cause] cost-saving initiatives take hold [Relation] enable [Effect] Hanes can overcome some of these issues and slightly improve margins in future years",
    "gold": "[Cause] cost-saving initiatives take hold [Relation] enable [Effect] Hanes can overcome some of these issues and slightly improve margins in future years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The most pressing risk PFG faces is the pandemic, which resulted in a 7% drop in organic sales in fiscal 2020, and we expect about $230 million in bad debt expenses between fiscal 2020 and 2021.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] The most pressing risk PFG faces",
    "gold": "[Cause] The most pressing risk PFG faces is the pandemic [Relation] cause [Effect] a 7% drop in organic sales in fiscal 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The most pressing risk PFG faces is the pandemic, which resulted in a 7% drop in organic sales in fiscal 2020, and we expect about $230 million in bad debt expenses between fiscal 2020 and 2021.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] a 7% drop in organic sales in fiscal 2020",
    "gold": "[Cause] The most pressing risk PFG faces is the pandemic [Relation] cause [Effect]  $230 million in bad debt expenses between fiscal 2020 and 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This cross-selling opportunity is supported by Coupa's organic and inorganic investments within its platform, which should allow the company to expand its spend management capabilities beyond just procurement into other areas such as payments.",
    "output": "[Cause] This cross-selling opportunity is supported by Coupa's organic and inorganic investments within its platform [Relation] enable [Effect] the company to expand its spend management capabilities beyond just procurement into other areas such as payments",
    "gold": "[Cause] This cross-selling opportunity is supported by Coupa's organic and inorganic investments within its platform [Relation] enable [Effect]  the company to expand its spend management capabilities beyond just procurement into other areas such as payments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, over the past five years, growth has stalled due to markdowns of bags at third-party retail and declining sales at company-owned stores.",
    "output": "[Cause] markdowns of bags at third-party retail and declining sales at company-owned stores [Relation] cause [Effect] growth has stalled",
    "gold": "[Cause] markdowns of bags at third-party retail and declining sales at company-owned stores [Relation] cause [Effect] growth has stalled",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm benefits from a virtuous cycle, with its supplier relationships and cost leverage enabling low prices on a broad, high-quality, changing assortment, and the ensuing customer response making the firm more valuable to vendors and better able to spread fixed costs over a large base.",
    "output": "[Cause] its supplier relationships and cost leverage [Relation] enable [Effect] low prices on a broad, high-quality, changing assortment",
    "gold": "[Cause] The firm benefits from a virtuous cycle, with its supplier relationships and cost leverage enabling low prices on a broad, high-quality, changing assortment, and the ensuing customer response [Relation] enable [Effect]  the firm more valuable to vendors and better able to spread fixed costs over a large base",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Due to flexibility in SocGen's cost base and an existing program of paring back costs, we do not anticipate a deterioating cost to income ratio in 2020 for SocGen--our estimated midcycle cost to income ratio is 70%, slightly lower than the 72% achieved in 2019, as we calculate it.",
    "output": "[Cause] flexibility in SocGen's cost base and an existing program of paring back costs [Relation] cause [Effect] we do not anticipate a deterioating cost to income ratio in 2020 for SocGen",
    "gold": "[Cause]  flexibility in SocGen's cost base and an existing program of paring back costs [Relation] cause [Effect]  we do not anticipate a deterioating cost to income ratio in 2020 for SocGen",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, in CPUs, we believe that high customer switching costs are pervasive within the x86 ecosystem, as a wide variety of software is written to be optimized on x86 processors from Intel and AMD.",
    "output": "[Cause] a wide variety of software is written to be optimized on x86 processors from Intel and AMD [Relation] cause [Effect] high customer switching costs are pervasive within the x86 ecosystem",
    "gold": "[Cause]  a wide variety of software is written to be optimized on x86 processors from Intel and AMD [Relation] cause [Effect] high customer switching costs are pervasive within the x86 ecosystem",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Steel's North American steelmaking operations will not enjoy the benefits of lower iron ore spot prices to the same extent as its peers around the globe as cost support for steel prices falters.",
    "output": "[Cause] cost support for steel prices falters [Relation] cause [Effect] Steel's North American steelmaking operations will not enjoy the benefits of lower iron ore spot prices to the same extent as its peers around the globe",
    "gold": "[Cause] cost support for steel prices falters [Relation] cause [Effect] Steel's North American steelmaking operations will not enjoy the benefits of lower iron ore spot prices to the same extent as its peers around the globe",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Personal line insurers, such as Progressive, are better able to spread fixed costs over a wider base as their business model does not require as many specialized underwriters and human capital.",
    "output": "[Cause] their business model does not require as many specialized underwriters and human capital [Relation] cause [Effect] Personal line insurers, such as Progressive, are better able to spread fixed costs over a wider base",
    "gold": "[Cause] their business model does not require as many specialized underwriters and human capital [Relation] cause [Effect] Personal line insurers, such as Progressive, are better able to spread fixed costs over a wider base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In terms of switching costs, we think that years-long product development and procurement cycles, the potentially lethal cost of product failure, and the difficulty of developing a suitable alternative give switching costs most products in this segment.",
    "output": "[Cause] years-long product development and procurement cycles [Relation] cause [Effect] the potentially lethal cost of product failure",
    "gold": "[Cause] years-long product development and procurement cycles [Relation] cause [Effect] give switching costs most products in this segment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In terms of switching costs, we think that years-long product development and procurement cycles, the potentially lethal cost of product failure, and the difficulty of developing a suitable alternative give switching costs most products in this segment.",
    "output": "[Cause] the potentially lethal cost of product failure [Relation] cause [Effect] the difficulty of developing a suitable alternative give switching costs most products in this segment",
    "gold": "[Cause] the difficulty of developing a suitable alternative [Relation] cause [Effect] give switching costs most products in this segment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A&R cost will to continue to grow in absolute terms as Warner will continue to invest in finding and developing new artists even as it sees more competition from its larger peers.",
    "output": "[Cause] Warner will continue to invest in finding and developing new artists [Relation] cause [Effect] A&R cost will to continue to grow in absolute terms",
    "gold": "[Cause] Warner will continue to invest in finding and developing new artists [Relation] cause [Effect] A&R cost will to continue to grow in absolute terms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect advertising to remain at 7% of sales, and R&D to average 0.5% of sales, as the firm shares R&D expense with its co-manufacturers.",
    "output": "[Cause] the firm shares R&D expense with its co-manufacturers [Relation] cause [Effect] advertising to remain at 7% of sales, and R&D to average 0.5% of sales",
    "gold": "[Cause] the firm shares R&D expense with its co-manufacturers [Relation] cause [Effect] advertising to remain at 7% of sales, and R&D to average 0.5% of sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This implicit contract between regulators and capital providers should, on balance, allow regulated utilities to earn greater than their costs of capital, though observable returns might vary in the short run based on demand trends, investment cycles, operating costs, and access to financing.",
    "output": "[Cause] This implicit contract between regulators and capital providers [Relation] enable [Effect] regulated utilities to earn greater than their costs of capital",
    "gold": "[Cause] This implicit contract between regulators and capital providers [Relation] enable [Effect] regulated utilities to earn greater than their costs of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Malibu hasn't rested only on innovation to grow profits, also curating savings through streamlined production and rising efficiencies (through vertical integration).",
    "output": "[Cause] innovation [Relation] enable [Effect] grow profits",
    "gold": "[Cause]  innovation [Relation] enable [Effect]  grow profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Malibu hasn't rested only on innovation to grow profits, also curating savings through streamlined production and rising efficiencies (through vertical integration).",
    "output": "[Cause] curating savings [Relation] enable [Effect] grow profits",
    "gold": "[Cause] curating savings [Relation] enable [Effect]  grow profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Malibu hasn't rested only on innovation to grow profits, also curating savings through streamlined production and rising efficiencies (through vertical integration).",
    "output": "[Cause] curating savings [Relation] enable [Effect] grow profits",
    "gold": "[Cause] streamlined production and rising efficiencies (through vertical integration) [Relation] enable [Effect] curating savings",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Malibu hasn't rested only on innovation to grow profits, also curating savings through streamlined production and rising efficiencies (through vertical integration).",
    "output": "[Cause] curating savings [Relation] enable [Effect] grow profits",
    "gold": "[Cause] vertical integration [Relation] enable [Effect]  rising efficiencies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Even if volumes decelerate as shelter-in-place initiatives are lifted and consumers gradually increase their consumption of food away-from-home, we think Clorox has laid out a solid playbook (inclusive of innovation and marketing to more effectively align with consumer trends) that should steady the grilling business over time.",
    "output": "[Cause] shelter-in-place initiatives are lifted and consumers gradually increase their consumption of food away-from-home [Relation] cause [Effect] volumes decelerate",
    "gold": "[Cause] shelter-in-place initiatives are lifted and consumers gradually increase their consumption of food away-from-home [Relation] cause [Effect] volumes decelerate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even if volumes decelerate as shelter-in-place initiatives are lifted and consumers gradually increase their consumption of food away-from-home, we think Clorox has laid out a solid playbook (inclusive of innovation and marketing to more effectively align with consumer trends) that should steady the grilling business over time.",
    "output": "[Cause] Clorox has laid out a solid playbook [Relation] enable [Effect] steady the grilling business over time",
    "gold": "[Cause] Clorox has laid out a solid playbook [Relation] cause [Effect] steady the grilling business over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even if volumes decelerate as shelter-in-place initiatives are lifted and consumers gradually increase their consumption of food away-from-home, we think Clorox has laid out a solid playbook (inclusive of innovation and marketing to more effectively align with consumer trends) that should steady the grilling business over time.",
    "output": "[Cause] Clorox has laid out a solid playbook [Relation] enable [Effect] steady the grilling business over time",
    "gold": "[Cause] inclusive of innovation and marketing [Relation] cause [Effect] more effectively align with consumer trends",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Even so, due to evolving nutritional preferences, consumers have been shifting from processed fare to fresh, natural options, causing General Mills' categories to slow.",
    "output": "[Cause] evolving nutritional preferences [Relation] cause [Effect] consumers have been shifting from processed fare to fresh, natural options",
    "gold": "[Cause] evolving nutritional preferences [Relation] cause [Effect] consumers have been shifting from processed fare to fresh, natural options",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even so, due to evolving nutritional preferences, consumers have been shifting from processed fare to fresh, natural options, causing General Mills' categories to slow.",
    "output": "[Cause] consumers have been shifting from processed fare to fresh, natural options [Relation] cause [Effect] General Mills' categories to slow",
    "gold": "[Cause] consumers have been shifting from processed fare to fresh, natural options [Relation] cause [Effect] General Mills' categories to slow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Vistra also must manage its retail risk to make sure it is protected if customer demand and market prices rise above the company's expectations.",
    "output": "[Cause] customer demand and market prices rise above the company's expectations [Relation] cause [Effect] Vistra also must manage its retail risk to make sure it is protected",
    "gold": "[Cause] Vistra also must manage its retail risk [Relation] enable [Effect] it is protected if customer demand and market prices rise above the company's expectations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Primary hyperoxaluria Type 1 can result in both kidney and liver failure, and we believe we could see an approval in 2020.",
    "output": "[Cause] Primary hyperoxaluria Type 1 [Relation] cause [Effect] both kidney and liver failure",
    "gold": "[Cause] Primary hyperoxaluria Type 1 [Relation] cause [Effect] both kidney and liver failure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, many retailers are looking to reduce average store square footage to increase efficiency and profitability, increasing the number of tenants Macerich will have to attract to fill its portfolio.",
    "output": "[Cause] reduce average store square footage [Relation] enable [Effect] increasing the number of tenants Macerich will have to attract to fill its portfolio",
    "gold": "[Cause] attract to fill its portfolio [Relation] enable [Effect] increasing the number of tenants Macerich",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we forecast ESS prices to decline, the fall will largely be driven by cheaper battery costs, which should not affect profitability.",
    "output": "[Cause] cheaper battery costs [Relation] cause [Effect] the fall will largely be driven",
    "gold": "[Cause] cheaper battery costs [Relation] cause [Effect] While we forecast ESS prices to decline",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While fiscal 2020 sales declined 4.5%, hindered by supply chain disruption from COVID-19, we forecast a robust restoration of sales growth in fiscal 2021.",
    "output": "[Cause] supply chain disruption from COVID-19 [Relation] cause [Effect] fiscal 2020 sales declined 4.5%",
    "gold": "[Cause]  hindered by supply chain disruption from COVID-19 [Relation] cause [Effect]  we forecast a robust restoration of sales growth in fiscal 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect about 6% sales growth again in 2021 as the pandemic remains a headwind, but after 2021, we project Fastenal will generate low double-digit average top-line growth as it gains traction with its industrial vending and on-site programs and takes share from smaller competitors.",
    "output": "[Cause] the pandemic remains a headwind [Relation] cause [Effect] about 6% sales growth again in 2021",
    "gold": "[Cause] the pandemic remains a headwind [Relation] enable [Effect] about 6% sales growth again in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect about 6% sales growth again in 2021 as the pandemic remains a headwind, but after 2021, we project Fastenal will generate low double-digit average top-line growth as it gains traction with its industrial vending and on-site programs and takes share from smaller competitors.",
    "output": "[Cause] it gains traction with its industrial vending and on-site programs and takes share from smaller competitors [Relation] cause [Effect] Fastenal will generate low double-digit average top-line growth",
    "gold": "[Cause] it gains traction with its industrial vending and on-site programs and takes share from smaller competitors [Relation] enable [Effect] Fastenal will generate low double-digit average top-line growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have increased our shipbuilding revenue outlook for the firm, but the additional free cash flow is offset by worse-than-anticipated pension and working capital headwinds.",
    "output": "[Cause] worse-than-anticipated pension and working capital headwinds [Relation] prevent [Effect] the additional free cash flow",
    "gold": "[Cause] worse-than-anticipated pension and working capital headwinds [Relation] prevent [Effect] the additional free cash flow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, we believe pricing gains will be bound by the lack of new cruisers over the next few years, as those potential customers could opt for more safely perceived land-based vacations given the recent media hype.",
    "output": "[Cause] the lack of new cruisers over the next few years [Relation] cause [Effect] pricing gains",
    "gold": "[Cause] the lack of new cruisers over the next few years [Relation] prevent [Effect] pricing gains",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that higher unit volumes and proportionately larger drop sizes lower the cost of servicing Starbucks' stores, allowing the firm to benefit from volume discounts with food distributors.",
    "output": "[Cause] higher unit volumes and proportionately larger drop sizes [Relation] enable [Effect] the firm to benefit from volume discounts with food distributors",
    "gold": "[Cause] the cost of servicing Starbucks' stores [Relation] cause [Effect] allowing the firm to benefit from volume discounts with food distributors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After updating our projections with the latest quarterly results, we are increasing our fair value estimate to $35 per share from $30.",
    "output": "[Cause] updating our projections with the latest quarterly results [Relation] cause [Effect] increasing our fair value estimate to $35 per share from $30",
    "gold": "[Cause] updating our projections with the latest quarterly results [Relation] cause [Effect] increasing our fair value estimate to $35 per share from $30",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over time, users are likely to become further dependent on and spend more time using Facebook and Instagram, which will continue to attract advertisers, resulting in a stronger network effect.",
    "output": "[Cause] users are likely to become further dependent on and spend more time using Facebook and Instagram [Relation] cause [Effect] attract advertisers, resulting in a stronger network effect",
    "gold": "[Cause] users are likely to become further dependent on and spend more time using Facebook and Instagram [Relation] enable [Effect] attract advertisers, resulting in a stronger network effect",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the technology front, LPL Financial has been willing make changes to keep its value proposition to advisors in a competitive position.",
    "output": "[Cause] LPL Financial has been willing make changes [Relation] enable [Effect] keep its value proposition to advisors in a competitive position",
    "gold": "[Cause] LPL Financial has been willing make changes [Relation] enable [Effect] keep its value proposition to advisors in a competitive position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Considering vendors' desire to avoid the stigma of a visible discount presence, we expect the channel to remain insulated from digital disruption, as we believe vendors achieve greater discretion in physical off-price venues as labels can be commingled on anonymous racks, with customers left to find bargains.",
    "output": "[Cause] labels can be commingled on anonymous racks, with customers left to find bargains [Relation] cause [Effect] vendors achieve greater discretion in physical off-price venues",
    "gold": "[Cause] labels can be commingled on anonymous racks, with customers left to find bargains [Relation] cause [Effect] vendors achieve greater discretion in physical off-price venues",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Considering vendors' desire to avoid the stigma of a visible discount presence, we expect the channel to remain insulated from digital disruption, as we believe vendors achieve greater discretion in physical off-price venues as labels can be commingled on anonymous racks, with customers left to find bargains.",
    "output": "[Cause] labels can be commingled on anonymous racks, with customers left to find bargains [Relation] cause [Effect] vendors achieve greater discretion in physical off-price venues",
    "gold": "[Cause] vendors' desire to avoid the stigma of a visible discount presence [Relation] cause [Effect] the channel to remain insulated from digital disruption",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In this vein, ROICs lagged our estimate of the firm's cost of capital in fiscals 2014 and 2018 at 7.4% and 6.2%, respectively. As such, while we forecast 9.8% ROICs on average annually over the next 10 years, our model does not reflect the cyclicality this business is likely to experience.",
    "output": "[Cause] ROICs lagged our estimate of the firm's cost of capital in fiscals 2014 and 2018 at 7.4% and 6.2%, respectively [Relation] cause [Effect] while we forecast 9.8% ROICs on average annually over the next 10 years, our model does not reflect the cyclicality this business is likely to experience",
    "gold": "[Cause] ROICs lagged our estimate of the firm's cost of capital in fiscals 2014 and 2018 at 7.4% and 6.2%, respectively [Relation] cause [Effect] while we forecast 9.8% ROICs on average annually over the next 10 years, our model does not reflect the cyclicality this business is likely to experience",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In Avery's IHM segment, which enjoys more exposure to healthcare and specialized industrial products, we think margins could expand to beyond 9% as Avery's products become embedded in highly specific customer processes.",
    "output": "[Cause] Avery's products become embedded in highly specific customer processes [Relation] cause [Effect] margins could expand to beyond 9%",
    "gold": "[Cause] margins could expand to beyond 9% as Avery's products become embedded in highly specific customer processes [Relation] cause [Effect]  enjoys more exposure to healthcare and specialized industrial products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "It might also be harder for Spotify to steal share from these competitors over time, as Apple Music users are probably entrenched with other Apple products, Amazon Music with Echo, and so on. Thus, they might be relatively more loyal to these music platforms than the users an operating-system-agnostic platform like Spotify can capture.",
    "output": "[Cause] It might also be harder for Spotify to steal share from these competitors over time, as Apple Music users are probably entrenched with other Apple products, Amazon Music with Echo, and so on [Relation] cause [Effect] they might be relatively more loyal to these music platforms than the users an operating-system-agnostic platform like Spotify can capture",
    "gold": "[Cause] It might also be harder for Spotify to steal share from these competitors over time, as Apple Music users are probably entrenched with other Apple products, Amazon Music with Echo, and so on [Relation] cause [Effect] they might be relatively more loyal to these music platforms than the users an operating-system-agnostic platform like Spotify can capture",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As brokers generally take a percentage of premium amounts as commission, they are exposed to the direction of the insurance pricing cycle.",
    "output": "[Cause] brokers generally take a percentage of premium amounts as commission [Relation] cause [Effect] they are exposed to the direction of the insurance pricing cycle",
    "gold": "[Cause]  brokers generally take a percentage of premium amounts as commission [Relation] cause [Effect] they are exposed to the direction of the insurance pricing cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the firm makes further investments here, it will be able to provide such solutions to enterprises, helping increase penetration.",
    "output": "[Cause] the firm makes further investments here [Relation] enable [Effect] provide such solutions to enterprises",
    "gold": "[Cause]  the firm makes further investments here [Relation] enable [Effect] provide such solutions to enterprises",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, in the Philippines, higher sweetened beverage taxes and restrictions on sweetener imports that caused a spike in local prices (both of which emanate from heightened social awareness around soda's health implications), drove it to sell the territory's rights back to TCCC.",
    "output": "[Cause] higher sweetened beverage taxes and restrictions on sweetener imports [Relation] cause [Effect] a spike in local prices",
    "gold": "[Cause] a spike in local prices [Relation] enable [Effect] drove it to sell the territory's rights back to TCCC",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For example, in the Philippines, higher sweetened beverage taxes and restrictions on sweetener imports that caused a spike in local prices (both of which emanate from heightened social awareness around soda's health implications), drove it to sell the territory's rights back to TCCC.",
    "output": "[Cause] higher sweetened beverage taxes and restrictions on sweetener imports [Relation] cause [Effect] a spike in local prices",
    "gold": "[Cause] higher sweetened beverage taxes and restrictions on sweetener imports [Relation] cause [Effect] a spike in local prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As most of WPP's larger clients favor omnichannel and advertising campaigns, past and future acquisitions and investments help make WPP a one-stop shop.",
    "output": "[Cause] most of WPP's larger clients favor omnichannel and advertising campaigns [Relation] cause [Effect] past and future acquisitions and investments help make WPP a one-stop shop",
    "gold": "[Cause] most of WPP's larger clients favor omnichannel and advertising campaigns [Relation] cause [Effect] past and future acquisitions and investments help make WPP a one-stop shop",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As most of WPP's larger clients favor omnichannel and advertising campaigns, past and future acquisitions and investments help make WPP a one-stop shop.",
    "output": "[Cause] past and future acquisitions and investments [Relation] enable [Effect] WPP a one-stop shop",
    "gold": "[Cause] past and future acquisitions and investments [Relation] enable [Effect] WPP a one-stop shop",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even when discounted, many Polo shirts sell for $60, allowing for a strong profit margin for the retailer and supporting wholesale pricing.",
    "output": "[Cause] many Polo shirts sell for $60 [Relation] enable [Effect] a strong profit margin for the retailer and supporting wholesale pricing",
    "gold": "[Cause] many Polo shirts sell for $60 [Relation] cause [Effect] a strong profit margin for the retailer and supporting wholesale pricing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cohen &amp; Steers also garnered 12% (18%) of its AUM (base management fees) from closed-end funds, which differ from open-end funds in that they cannot be redeemed back to the fund manager, providing the firm with a greater hold over this portion of its retail AUM.",
    "output": "[Cause] they cannot be redeemed back to the fund manager [Relation] cause [Effect] the firm with a greater hold over this portion of its retail AUM",
    "gold": "[Cause] Steers also garnered 12% (18%) of its AUM (base management fees) from closed-end funds, which differ from open-end funds in that they cannot be redeemed back to the fund manager [Relation] cause [Effect] providing the firm with a greater hold over",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The coronavirus has caused an unprecedented shock to the food-service industry, which has thus far caused the permanent closure of 10% of restaurants and a double-digit decline in industry sales in calendar 2020.",
    "output": "[Cause] The coronavirus [Relation] cause [Effect] an unprecedented shock to the food-service industry",
    "gold": "[Cause] The coronavirus [Relation] cause [Effect] an unprecedented shock to the food-service industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The coronavirus has caused an unprecedented shock to the food-service industry, which has thus far caused the permanent closure of 10% of restaurants and a double-digit decline in industry sales in calendar 2020.",
    "output": "[Cause] The coronavirus [Relation] cause [Effect] an unprecedented shock to the food-service industry",
    "gold": "[Cause] an unprecedented shock to the food-service industry [Relation] cause [Effect] far caused the permanent closure of 10% of restaurants and a double-digit decline in industry sales in calendar 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Oil spills are an ever-present risk for oil companies operating offshore and can be devastating to firm value as BP's Macondo incident in the Gulf of Mexico shows.",
    "output": "[Cause] Oil spills [Relation] cause [Effect] an ever-present risk for oil companies operating offshore",
    "gold": "[Cause] Oil spills [Relation] cause [Effect] an ever-present risk for oil companies operating offshore",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Oil spills are an ever-present risk for oil companies operating offshore and can be devastating to firm value as BP's Macondo incident in the Gulf of Mexico shows.",
    "output": "[Cause] Oil spills [Relation] cause [Effect] devastating to firm value",
    "gold": "[Cause] Oil spills [Relation] cause [Effect] devastating to firm value",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, due to the bank's inability to deal with its regulatory issues, which increases the uncertainty around future profitability, we are currently assigning the bank a high uncertainty rating.",
    "output": "[Cause] the bank's inability to deal with its regulatory issues [Relation] cause [Effect] increases the uncertainty around future profitability",
    "gold": "[Cause]  the bank's inability to deal with its regulatory issues [Relation] enable [Effect] increases the uncertainty around future profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, due to the bank's inability to deal with its regulatory issues, which increases the uncertainty around future profitability, we are currently assigning the bank a high uncertainty rating.",
    "output": "[Cause] the bank's inability to deal with its regulatory issues [Relation] cause [Effect] increases the uncertainty around future profitability",
    "gold": "[Cause] increases the uncertainty around future profitability [Relation] cause [Effect] we are currently assigning the bank a high uncertainty rating",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the mobility and materials segment, DuPont should benefit from automakers replacing small metal pieces with lighter plastics, a trend that should continue as automakers move toward more lightweight vehicles.",
    "output": "[Cause] automakers move toward more lightweight vehicles [Relation] cause [Effect] DuPont should benefit from automakers replacing small metal pieces with lighter plastics",
    "gold": "[Cause] automakers move toward more lightweight vehicles [Relation] cause [Effect]  DuPont should benefit from automakers replacing small metal pieces with lighter plastics",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of the high degree of operating leverage (volume drives profits) inherent in the retailers' business model and razor-thin margins, availability of products on shelves is critical.",
    "output": "[Cause] the high degree of operating leverage (volume drives profits) inherent in the retailers' business model and razor-thin margins [Relation] cause [Effect] availability of products on shelves is critical",
    "gold": "[Cause] the high degree of operating leverage (volume drives profits) inherent in the retailers' business model and razor-thin margins [Relation] cause [Effect] availability of products on shelves is critical",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, in emerging markets, the company has improved its position by selling its majority-owned subsidiary eLong and replacing it with a CTrip collaboration.",
    "output": "[Cause] selling its majority-owned subsidiary eLong and replacing it with a CTrip collaboration [Relation] enable [Effect] the company has improved its position",
    "gold": "[Cause] selling its majority-owned subsidiary eLong and replacing it with a CTrip collaboration [Relation] enable [Effect] the company has improved its position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The damage to the pump franchise could have been even worse if not for pandemic-driven demand, but we think BD will still end up ceding some market share in this area even if it returns the pump to the market in late 2021.",
    "output": "[Cause] pandemic-driven demand [Relation] cause [Effect] The damage to the pump franchise could have been even worse",
    "gold": "[Cause]  pandemic-driven demand [Relation] prevent [Effect] The damage to the pump franchise could have been even worse",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect VAS revenue to increase at a 10-year compound annual growth rate of 11%, driven by new key game launches, improvement in monetization of existing popular mobile games, expansion of international games, expansion of game genres, and increased willingness to subscribe to content in China.",
    "output": "[Cause] new key game launches, improvement in monetization of existing popular mobile games, expansion of international games, expansion of game genres, and increased willingness to subscribe to content in China [Relation] cause [Effect] VAS revenue to increase at a 10-year compound annual growth rate of 11%",
    "gold": "[Cause] new key game launches, improvement in monetization of existing popular mobile games, expansion of international games, expansion of game genres, and increased willingness to subscribe to content in China [Relation] cause [Effect]  VAS revenue to increase at a 10-year compound annual growth rate of 11%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, the negative effects it experiences from currency depreciation are manifold (most recently stemming from COVID-19), impacting both revenue and costs.",
    "output": "[Cause] the negative effects it experiences from currency depreciation are manifold [Relation] cause [Effect] impacting both revenue and costs",
    "gold": "[Cause] the negative effects it experiences from currency depreciation are manifold [Relation] cause [Effect] impacting both revenue and costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition to our expectations for ADAS to present a robust growth opportunity for the firm, we think automotive applications like ADAS present strong customer switching costs, resulting from being a mission-critical system with an immense cost of failure.",
    "output": "[Cause] being a mission-critical system with an immense cost of failure [Relation] cause [Effect] automotive applications like ADAS present strong customer switching costs",
    "gold": "[Cause] being a mission-critical system with an immense cost of failure [Relation] cause [Effect] automotive applications like ADAS present strong customer switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we believe COVID-19 disruptions have resulted in some restructuring situations and restaurant closures among RBI's franchisee base, we believe the operational strategies behind its core brands--Burger King, Tim Hortons, and Popeyes Louisiana Kitchen--should help position the company for longer-term market share gains.",
    "output": "[Cause] COVID-19 disruptions [Relation] cause [Effect] some restructuring situations and restaurant closures among RBI's franchisee base",
    "gold": "[Cause] COVID-19 disruptions [Relation] cause [Effect]  some restructuring situations and restaurant closures among RBI's franchisee base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think it is possible that Marvell will be able to increase GAAP operating margins in the high-20s by driving leverage as it streamlines its spending in storage and networking.",
    "output": "[Cause] it streamlines its spending in storage and networking [Relation] enable [Effect] Marvell will be able to increase GAAP operating margins in the high-20s by driving leverage",
    "gold": "[Cause] driving leverage [Relation] cause [Effect] increase GAAP operating margins in the high-20s",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This gives the bank exposure to this higher-margin fee-based business that we don't think will change in the near term as the banks still have the dominant branch and distribution networks.",
    "output": "[Cause] the banks still have the dominant branch and distribution networks [Relation] cause [Effect] This gives the bank exposure to this higher-margin fee-based business that we don't think will change in the near term",
    "gold": "[Cause] the banks still have the dominant branch and distribution networks [Relation] cause [Effect] This gives the bank exposure to this higher-margin fee-based business that we don't think will change in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that CrowdStrike is successfully executing on a land-and-expand strategy, whereby the company establishes a market presence, becomes crucial to its customers, and is able to extract more revenue per customer over time.",
    "output": "[Cause] CrowdStrike is successfully executing on a land-and-expand strategy [Relation] enable [Effect] the company establishes a market presence, becomes crucial to its customers, and is able to extract more revenue per customer over time",
    "gold": "[Cause] CrowdStrike is successfully executing on a land-and-expand strategy [Relation] cause [Effect] the company establishes a market presence, becomes crucial to its customers, and is able to extract more revenue per customer over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Within its industrial and energy segments, many of Ingersoll-Rand's products are designed to work in harsh conditions, which leads to significant wear and tear.",
    "output": "[Cause] many of Ingersoll-Rand's products are designed to work in harsh conditions [Relation] cause [Effect] significant wear and tear",
    "gold": "[Cause]  many of Ingersoll-Rand's products are designed to work in harsh conditions [Relation] cause [Effect] significant wear and tear",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Equinix's uncertainty rating is high, primarily because the capital-heavy nature of its business minimizes its ability to be agile in the face of a market downturn.",
    "output": "[Cause] the capital-heavy nature of its business minimizes its ability to be agile in the face of a market downturn [Relation] cause [Effect] Equinix's uncertainty rating is high",
    "gold": "[Cause]  the capital-heavy nature of its business minimizes its ability to be agile in the face of a market downturn [Relation] cause [Effect] Equinix's uncertainty rating is high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This large installed base creates stickiness that helps Lam maintain its leadership position in key process steps for chipmakers' process flows.",
    "output": "[Cause] This large installed base creates stickiness [Relation] enable [Effect] helps Lam maintain its leadership position in key process steps for chipmakers' process flows",
    "gold": "[Cause] This large installed base creates stickiness [Relation] enable [Effect] helps Lam maintain its leadership position in key process steps for chipmakers' process flows",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because the costs to build or acquire a proprietary set of data are mostly fixed, as a data business grows, additional revenue will fall to the bottom line without much additional cost.",
    "output": "[Cause] the costs to build or acquire a proprietary set of data are mostly fixed [Relation] cause [Effect] additional revenue will fall to the bottom line without much additional cost",
    "gold": "[Cause] a data business grows [Relation] cause [Effect] additional revenue will fall to the bottom line without much additional cost",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Switching costs are high since changing providers entails significant operational risk and substituting one data set for another is often not a like-for-like swap.",
    "output": "[Cause] changing providers entails significant operational risk and substituting one data set for another is often not a like-for-like swap [Relation] cause [Effect] Switching costs are high",
    "gold": "[Cause] changing providers entails significant operational risk and substituting one data set for another is often not a like-for-like swap [Relation] cause [Effect] Switching costs are high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And with Guardant the first to market with an FDA-approved liquid biopsy, we think Guardant could benefit from a significant first-mover advantage, and peers are years behind Guardant in the treatment selection market.",
    "output": "[Cause] Guardant the first to market with an FDA-approved liquid biopsy [Relation] enable [Effect] Guardant could benefit from a significant first-mover advantage, and peers are years behind Guardant in the treatment selection market",
    "gold": "[Cause] a significant first-mover advantage, and peers are years behind Guardant in the treatment selection market [Relation] enable [Effect] Guardant the first to market with an FDA-approved liquid biopsy",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our unit growth forecast averages 4.3% annually over the next decade (unchanged), supported by a favorable position with next-generation travelers, new brand growth, and a strong pipeline.",
    "output": "[Cause] a favorable position with next-generation travelers, new brand growth, and a strong pipeline [Relation] enable [Effect] Our unit growth forecast averages 4.3% annually over the next decade (unchanged)",
    "gold": "[Cause]  a favorable position with next-generation travelers, new brand growth, and a strong pipeline [Relation] enable [Effect] Our unit growth forecast averages 4.3% annually over the next decade (unchanged)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Single-use technology is a lower cost alternative to conventional materials (for example steel), and reduces significant time in the biomanufacturing process.",
    "output": "[Cause] Single-use technology [Relation] enable [Effect] reduces significant time in the biomanufacturing process",
    "gold": "[Cause] Single-use technology [Relation] enable [Effect] reduces significant time in the biomanufacturing process",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With manufacturing facilities abroad, we could see operating efficiencies achieved with the appropriate company acquisition and with a distribution network already intact overseas, we think acquired sales could benefit. This could boost Polaris' scale faster, helping the business capture further operating efficiencies and possibly boosting operating margins higher than we currently anticipate, as lean manufacturing has remained a key theme over recent years.",
    "output": "[Cause] With manufacturing facilities abroad, we could see operating efficiencies achieved with the appropriate company acquisition and with a distribution network already intact overseas, we think acquired sales could benefit [Relation] enable [Effect] boost Polaris' scale faster, helping the business capture further operating efficiencies and possibly boosting operating margins higher than we currently anticipate, as lean manufacturing has remained a key theme over recent years",
    "gold": "[Cause] With manufacturing facilities abroad, we could see operating efficiencies achieved with the appropriate company acquisition and with a distribution network already intact overseas, we think acquired sales could benefit [Relation] enable [Effect] boost Polaris' scale faster, helping the business capture further operating efficiencies and possibly boosting operating margins higher than we currently anticipate, as lean manufacturing has remained a key theme over recent years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our base-case scenario assumes that the bank's efficiency ratio eventually declines to about 56% as management maintains focus on cost control.",
    "output": "[Cause] management maintains focus on cost control [Relation] cause [Effect] the bank's efficiency ratio eventually declines to about 56%",
    "gold": "[Cause] management maintains focus on cost control [Relation] cause [Effect] the bank's efficiency ratio eventually declines to about 56%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the increasing use of automation in Accenture's processes may result in lower utilization rates if the firm can't best predict its personnel needs.",
    "output": "[Cause] the increasing use of automation in Accenture's processes [Relation] cause [Effect] lower utilization rates",
    "gold": "[Cause] the firm can't best predict its personnel needs [Relation] cause [Effect] lower utilization rates",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Like competitor Arrow Electronics, Avnet has a broad range of components and provides various value-Electronics & Computer Distributionadded services to help customers develop new products, improve time to market, and reduce inefficiencies.",
    "output": "[Cause] Avnet has a broad range of components and provides various value-Electronics & Computer Distributionadded services [Relation] enable [Effect] help customers develop new products, improve time to market, and reduce inefficiencies",
    "gold": "[Cause] Avnet has a broad range of components and provides various value-Electronics & Computer Distributionadded services [Relation] cause [Effect] help customers develop new products, improve time to market, and reduce inefficiencies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also forecast that Trane can continue to raise prices in excess of input cost inflation, supporting both top line growth and profit margins.",
    "output": "[Cause] Trane can continue to raise prices in excess of input cost inflation [Relation] enable [Effect] supporting both top line growth and profit margins",
    "gold": "[Cause] Trane can continue to raise prices in excess of input cost inflation [Relation] cause [Effect] supporting both top line growth and profit margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While about 50% of Sysco's business operates under a cost-plus contract, and therefore faces no margin risk, the remaining 50% uses negotiated spot prices.",
    "output": "[Cause] about 50% of Sysco's business operates under a cost-plus contract [Relation] cause [Effect] faces no margin risk",
    "gold": "[Cause] about 50% of Sysco's business operates under a cost-plus contract [Relation] cause [Effect]  faces no margin risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As reimbursement doesn't distinguish between manual and robotic MIS, and robotic instrumentation costs more, hospitals are forced to eat the difference between the two procedures, and if clinical benefit isn't well established, manual laparoscopy may prevail.",
    "output": "[Cause] reimbursement doesn't distinguish between manual and robotic MIS, and robotic instrumentation costs more [Relation] cause [Effect] hospitals are forced to eat the difference between the two procedures",
    "gold": "[Cause] reimbursement doesn't distinguish between manual and robotic MIS, and robotic instrumentation costs more [Relation] cause [Effect] hospitals are forced to eat the difference between the two procedures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As reimbursement doesn't distinguish between manual and robotic MIS, and robotic instrumentation costs more, hospitals are forced to eat the difference between the two procedures, and if clinical benefit isn't well established, manual laparoscopy may prevail.",
    "output": "[Cause] clinical benefit isn't well established [Relation] cause [Effect] manual laparoscopy may prevail",
    "gold": "[Cause] clinical benefit isn't well established [Relation] enable [Effect] manual laparoscopy may prevail",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If PPG were to increase its leverage to pursue a large deal at the wrong time, this could endanger the business.",
    "output": "[Cause] PPG were to increase its leverage to pursue a large deal at the wrong time [Relation] cause [Effect] endanger the business",
    "gold": "[Cause] PPG were to increase its leverage to pursue a large deal at the wrong time [Relation] cause [Effect] endanger the business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But this should not affect TripAdvisor's uncertainty rating unless travel demand once again returns to near zero for an extended period, leading to potential needs for incremental liquidity, which perhaps could occur at value-destructive levels.",
    "output": "[Cause] travel demand once again returns to near zero for an extended period [Relation] cause [Effect] potential needs for incremental liquidity",
    "gold": "[Cause] travel demand once again returns to near zero for an extended period [Relation] cause [Effect] potential needs for incremental liquidity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm is also exposed to myriad cultural, economic, and political risks through its operations and investments in overseas markets.",
    "output": "[Cause] its operations and investments in overseas markets [Relation] cause [Effect] The firm is also exposed to myriad cultural, economic, and political risks",
    "gold": "[Cause]  its operations and investments in overseas markets [Relation] cause [Effect] The firm is also exposed to myriad cultural, economic, and political risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We continue to hold relatively optimistic projections for Boston's growth beyond our explicit forecast period based on the firm's new products featuring promising technologies, including Millipede for transcatheter mitral valve repair, advances in spinal cord stimulation for chronic pain, and new electrophysiology navigation platforms.",
    "output": "[Cause] the firm's new products featuring promising technologies, including Millipede for transcatheter mitral valve repair, advances in spinal cord stimulation for chronic pain, and new electrophysiology navigation platforms [Relation] cause [Effect] We continue to hold relatively optimistic projections for Boston's growth beyond our explicit forecast period",
    "gold": "[Cause] the firm's new products featuring promising technologies, including Millipede for transcatheter mitral valve repair, advances in spinal cord stimulation for chronic pain, and new electrophysiology navigation platforms [Relation] cause [Effect] We continue to hold relatively optimistic projections for Boston's growth beyond our explicit forecast period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With essentially all rooms franchised, Choice has an attractive recurring-fee business model with high returns on invested capital (averaging 83% over the past three years, including goodwill), as franchised hotels have low fixed costs and capital requirements.",
    "output": "[Cause] franchised hotels have low fixed costs and capital requirements [Relation] cause [Effect] Choice has an attractive recurring-fee business model with high returns on invested capital",
    "gold": "[Cause]  franchised hotels have low fixed costs and capital requirements [Relation] cause [Effect] Choice has an attractive recurring-fee business model with high returns on invested capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We estimate earnings per share will grow more slowly than rate base, about 8% annually, due to the dilutive impact of almost $3 billion of common equity we forecast will be issued over this period as the company maintains a strong balance sheet.",
    "output": "[Cause] the company maintains a strong balance sheet [Relation] cause [Effect] earnings per share will grow more slowly than rate base, about 8% annually",
    "gold": "[Cause]  the dilutive impact of almost $3 billion of common equity we forecast will be issued over this period [Relation] cause [Effect] earnings per share will grow more slowly than rate base, about 8% annually",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We estimate earnings per share will grow more slowly than rate base, about 8% annually, due to the dilutive impact of almost $3 billion of common equity we forecast will be issued over this period as the company maintains a strong balance sheet.",
    "output": "[Cause] the company maintains a strong balance sheet [Relation] cause [Effect] earnings per share will grow more slowly than rate base, about 8% annually",
    "gold": "[Cause] the company maintains a strong balance sheet [Relation] cause [Effect]  the dilutive impact of almost $3 billion of common equity we forecast will be issued over this period",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the stagnant number of technicians and independent repair shops offset by technology trends, we forecast 4.4% annual growth over the next five years.",
    "output": "[Cause] the stagnant number of technicians and independent repair shops offset by technology trends [Relation] cause [Effect] we forecast 4.4% annual growth over the next five years",
    "gold": "[Cause] technology trends [Relation] enable [Effect] the stagnant number of technicians and independent repair shops offset",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the stagnant number of technicians and independent repair shops offset by technology trends, we forecast 4.4% annual growth over the next five years.",
    "output": "[Cause] the stagnant number of technicians and independent repair shops offset by technology trends [Relation] cause [Effect] we forecast 4.4% annual growth over the next five years",
    "gold": "[Cause] the stagnant number of technicians and independent repair shops offset by technology trends [Relation] cause [Effect] we forecast 4.4% annual growth over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As with fast fashion, we believe the clearance business model allows for a sustainable cost advantage that Old Navy does not have.",
    "output": "[Cause] the clearance business model [Relation] enable [Effect] a sustainable cost advantage that Old Navy does not have",
    "gold": "[Cause] As with fast fashion [Relation] cause [Effect] we believe the clearance business model allows for a sustainable cost advantage that Old Navy does not have",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As a legacy phone provider, BCE has historically had an inferior network, contributing to better penetration rates for Rogers and Videotron.",
    "output": "[Cause] As a legacy phone provider, BCE has historically had an inferior network [Relation] cause [Effect] contributing to better penetration rates for Rogers and Videotron",
    "gold": "[Cause] As a legacy phone provider, BCE has historically had an inferior network [Relation] enable [Effect] contributing to better penetration rates for Rogers and Videotron",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A lack of gas supply forced Vistra's plants to shutdown and required the company to buy power and gas at exceptionally high prices to satisfy its customer commitments.",
    "output": "[Cause] A lack of gas supply [Relation] cause [Effect] required the company to buy power and gas at exceptionally high prices",
    "gold": "[Cause] the company to buy power and gas at exceptionally high prices [Relation] enable [Effect] satisfy its customer commitments",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We model Zscaler expanding gross margins beyond 80% over our explicit forecast, up from roughly 78% in fiscal 2020, as it leverages its growing footprint in colocation data centers to serve an increasing number of customers deploying multiple Zscaler capabilities.",
    "output": "[Cause] it leverages its growing footprint in colocation data centers to serve an increasing number of customers deploying multiple Zscaler capabilities [Relation] cause [Effect] We model Zscaler expanding gross margins beyond 80% over our explicit forecast, up from roughly 78% in fiscal 2020",
    "gold": "[Cause] growing footprint [Relation] enable [Effect] increasing number of customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the crushing business within ag services and oilseeds, soybean capacity utilization should benefit from gains in crop yield and increased acreage in South America.",
    "output": "[Cause] gains in crop yield and increased acreage in South America [Relation] enable [Effect] soybean capacity utilization",
    "gold": "[Cause]  gains in crop yield and increased acreage in South America [Relation] enable [Effect] soybean capacity utilization",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As consumers get more averse to fossil fuels, the reputational risk grows for producers and the probability of widespread substitution away from fossil fuels increases.",
    "output": "[Cause] consumers get more averse to fossil fuels [Relation] cause [Effect] the reputational risk grows for producers",
    "gold": "[Cause] consumers get more averse to fossil fuels [Relation] cause [Effect] the reputational risk grows for producers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As consumers get more averse to fossil fuels, the reputational risk grows for producers and the probability of widespread substitution away from fossil fuels increases.",
    "output": "[Cause] consumers get more averse to fossil fuels [Relation] cause [Effect] the reputational risk grows for producers",
    "gold": "[Cause] the reputational risk grows for producers [Relation] cause [Effect] the probability of widespread substitution away from fossil fuels increases",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the shape of the cost curve and the high degree of cyclicality inherent to the steel industry, we liken Nucor to the best house in a bad neighborhood.",
    "output": "[Cause] the shape of the cost curve and the high degree of cyclicality inherent to the steel industry [Relation] cause [Effect] we liken Nucor to the best house in a bad neighborhood",
    "gold": "[Cause]  the shape of the cost curve and the high degree of cyclicality inherent to the steel industry [Relation] cause [Effect] we liken Nucor to the best house in a bad neighborhood",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Plegridy is likely to help Biogen maintain its lead in the interferon market, we expect generic Copaxone and Tecfidera to weigh on sales of injectable MS therapies.",
    "output": "[Cause] Plegridy [Relation] enable [Effect] help Biogen maintain its lead in the interferon market",
    "gold": "[Cause] Plegridy [Relation] enable [Effect] help Biogen maintain its lead in the interferon market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate margin expansion in the technology division, which should benefit from lower intangible asset amortization from the CSRA acquisition and cost efficiencies from reducing legacy CSRA overhead.",
    "output": "[Cause] lower intangible asset amortization from the CSRA acquisition and cost efficiencies from reducing legacy CSRA overhead [Relation] enable [Effect] margin expansion in the technology division",
    "gold": "[Cause] lower intangible asset amortization from the CSRA acquisition and cost efficiencies from reducing legacy CSRA overhead [Relation] enable [Effect] margin expansion in the technology division",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, we see Allegion's broad distribution network as a barrier to entry because we think it would be very difficult for a new entrant to quickly build these key relationships, especially without a strong reputation for quality and durability.",
    "output": "[Cause] it would be very difficult for a new entrant to quickly build these key relationships, especially without a strong reputation for quality and durability [Relation] cause [Effect] We see Allegion's broad distribution network as a barrier to entry",
    "gold": "[Cause] without a strong reputation for quality and durability [Relation] enable [Effect] difficult for a new entrant to quickly build these key relationships",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With interest rates likely to remain low for years, further growth will have to be from newer investment service initiatives, such as its expanded employee stock plan administration services and the discount brokerage operations from E-Trade.",
    "output": "[Cause] interest rates likely to remain low for years [Relation] cause [Effect] further growth will have to be from newer investment service initiatives",
    "gold": "[Cause]  newer investment service initiatives [Relation] enable [Effect] further growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Along those lines, Amazon Web Services offers scale advantages to clients in that it is cheaper and faster to set up IT 7 Jul 2021 05:00, UTCinfrastructure in the cloud compared with undertaking the same effort independently.",
    "output": "[Cause] it is cheaper and faster to set up IT 7 Jul 2021 05:00, UTCinfrastructure in the cloud compared with undertaking the same effort independently [Relation] enable [Effect] Amazon Web Services offers scale advantages to clients",
    "gold": "[Cause] it is cheaper and faster to set up IT 7 Jul 2021 05:00, UTCinfrastructure in the cloud compared with undertaking the same effort independently [Relation] cause [Effect] Amazon Web Services offers scale advantages to clients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Following the firm's release of second-quarter financial results, we are increasing our fair value estimate of Equifax to $168 from $155 as we increase our Workforce Solutions revenue and operating margin estimates.",
    "output": "[Cause] we increase our Workforce Solutions revenue and operating margin estimates [Relation] cause [Effect] we are increasing our fair value estimate of Equifax to $168 from $155",
    "gold": "[Cause] we increase our Workforce Solutions revenue and operating margin estimates [Relation] cause [Effect] we are increasing our fair value estimate of Equifax to $168 from $155",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect its network of owned stores (which stands in contrast to fully franchised market leader Jiffy Lube) to deliver benefits as Valvoline differentiates its service offering and drives lucrative growth.",
    "output": "[Cause] Valvoline differentiates its service offering and drives lucrative growth [Relation] cause [Effect] its network of owned stores (which stands in contrast to fully franchised market leader Jiffy Lube) to deliver benefits",
    "gold": "[Cause] Valvoline differentiates its service offering and drives lucrative growth [Relation] enable [Effect] its network of owned stores (which stands in contrast to fully franchised market leader Jiffy Lube) to deliver benefits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With Burlington lapping fiscal 2020's woes and vaccinations offering a path to normalcy, fiscal 2021 should be volatile.",
    "output": "[Cause] Burlington lapping fiscal 2020's woes and vaccinations offering a path to normalcy [Relation] cause [Effect] fiscal 2021 should be volatile",
    "gold": "[Cause]  Burlington lapping fiscal 2020's woes and vaccinations offering a path to normalcy [Relation] cause [Effect]  fiscal 2021 should be volatile",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We still expect Idexx's aggressive placement of more instruments and a steady stream of new test assays will pay off over the longer term as consumables should return to normalized growth in the low double digits.",
    "output": "[Cause] consumables should return to normalized growth in the low double digits [Relation] cause [Effect] Idexx's aggressive placement of more instruments and a steady stream of new test assays will pay off over the longer term",
    "gold": "[Cause] aggressive placement of more instruments and a steady stream of new test assays [Relation] cause [Effect] pay off over the longer term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect mild operating margin contraction during the next five years, as lower-margin government plans and pharmacy benefit management business continue to largely outpace growth in Humana's other segments.",
    "output": "[Cause] lower-margin government plans and pharmacy benefit management business continue to largely outpace growth in Humana's other segments [Relation] cause [Effect] mild operating margin contraction during the next five years",
    "gold": "[Cause]  lower-margin government plans and pharmacy benefit management business continue to largely outpace growth in Humana's other segments [Relation] cause [Effect] mild operating margin contraction during the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This could result in more stable cash flows, a sustainable dividend, and more share buybacks if management does a good job executing its strategy.",
    "output": "[Cause] management does a good job executing its strategy [Relation] cause [Effect] more stable cash flows, a sustainable dividend, and more share buybacks",
    "gold": "[Cause] management does a good job executing its strategy [Relation] enable [Effect] more stable cash flows, a sustainable dividend, and more share buybacks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There are industry constituents that have access to significant financial resources expanding into the boating industry, like Polaris, BRP, and Winnebago, which could lead to faster innovation if they enter the sport boat market and steal market share.",
    "output": "[Cause] There are industry constituents that have access to significant financial resources expanding into the boating industry, like Polaris, BRP, and Winnebago [Relation] cause [Effect] faster innovation if they enter the sport boat market and steal market share",
    "gold": "[Cause] There are industry constituents that have access to significant financial resources expanding into the boating industry, like Polaris, BRP, and Winnebago [Relation] cause [Effect] faster innovation if they enter the sport boat market and steal market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, being a state-owned monopoly has hurt the firm financially in the past three years, as it is obligated to import natural gas at a higher cost than it can sell it for.",
    "output": "[Cause] it is obligated to import natural gas at a higher cost than it can sell it for [Relation] cause [Effect] being a state-owned monopoly has hurt the firm financially in the past three years",
    "gold": "[Cause] it is obligated to import natural gas at a higher cost than it can sell it for [Relation] cause [Effect] being a state-owned monopoly has hurt the firm financially in the past three years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "PRA held off on significant moves with data due to existing earn-out payments to Symphony's prior equity owners, delaying serious integration until 2019.",
    "output": "[Cause] existing earn-out payments to Symphony's prior equity owners [Relation] cause [Effect] PRA held off on significant moves with data",
    "gold": "[Cause] existing earn-out payments to Symphony's prior equity owners [Relation] cause [Effect] PRA held off on significant moves with data",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "PRA held off on significant moves with data due to existing earn-out payments to Symphony's prior equity owners, delaying serious integration until 2019.",
    "output": "[Cause] PRA held off on significant moves with data [Relation] cause [Effect] delaying serious integration until 2019",
    "gold": "[Cause] PRA held off on significant moves with data [Relation] enable [Effect] delaying serious integration until 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The increased adoption of NICE's mission critical services in both Customer Engagement and Financial Crimes and Compliance as businesses demand more agile solutions should support healthy long-term growth for the firm.",
    "output": "[Cause] businesses demand more agile solutions [Relation] cause [Effect] The increased adoption of NICE's mission critical services in both Customer Engagement and Financial Crimes and Compliance",
    "gold": "[Cause] businesses demand more agile solutions [Relation] cause [Effect] The increased adoption of NICE's mission critical services in both Customer Engagement and Financial Crimes and Compliance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Investors should welcome the latter development given Roper's proven ability to redeploy capital once it brings its leverage back to normal levels.",
    "output": "[Cause] Roper's proven ability to redeploy capital once it brings its leverage back to normal levels [Relation] cause [Effect] Investors should welcome the latter development",
    "gold": "[Cause]  it brings its leverage back to normal levels [Relation] cause [Effect] Roper's proven ability to redeploy capital",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe its proposed acquisition of Shaw will be a positive for all national wireless incumbents, but the purchase price and integration risk leave us thinking it will be neutral to Rogers' valuation.",
    "output": "[Cause] the purchase price and integration risk [Relation] cause [Effect] it will be neutral to Rogers' valuation",
    "gold": "[Cause] the purchase price and integration risk [Relation] cause [Effect] it will be neutral to Rogers' valuation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As with most integrated oil firms, a deteriorating outlook for oil and natural gas prices would pressure Crescent Point's profitability, reduce cash flows, and drive up financial leverage.",
    "output": "[Cause] a deteriorating outlook for oil and natural gas prices [Relation] cause [Effect] pressure Crescent Point's profitability, reduce cash flows, and drive up financial leverage",
    "gold": "[Cause] a deteriorating outlook for oil and natural gas prices [Relation] cause [Effect] pressure Crescent Point's profitability, reduce cash flows, and drive up financial leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This dynamic should play well into the hands of 3PL providers such as Robinson because asset-based truckers must focus on maximizing tractor utilization.",
    "output": "[Cause] asset-based truckers must focus on maximizing tractor utilization [Relation] cause [Effect] This dynamic should play well into the hands of 3PL providers such as Robinson",
    "gold": "[Cause] asset-based truckers must focus on maximizing tractor utilization [Relation] cause [Effect] This dynamic should play well into the hands of 3PL providers such as Robinson",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, due to COVID-19 and the increasing uncertainty around the economy and the potential downside, we are currently assigning Fifth Third a high uncertainty rating.",
    "output": "[Cause] COVID-19 and the increasing uncertainty around the economy and the potential downside [Relation] cause [Effect] we are currently assigning Fifth Third a high uncertainty rating",
    "gold": "[Cause] COVID-19 and the increasing uncertainty around the economy and the potential downside [Relation] cause [Effect] we are currently assigning Fifth Third a high uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In Europe, 2020 sales should grow 38% due to the Tulip acquisition, and 2%-3% in 2021 and beyond, in line with market growth.",
    "output": "[Cause] the Tulip acquisition [Relation] cause [Effect] 2020 sales should grow 38%",
    "gold": "[Cause] the Tulip acquisition [Relation] cause [Effect]  2020 sales should grow 38%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our forecast includes a gradual shift to recurring revenue from nonrecurring revenue as management rationalizes less profitable services to allocate resources to capture more profitable areas.",
    "output": "[Cause] management rationalizes less profitable services to allocate resources to capture more profitable areas [Relation] cause [Effect] Our forecast includes a gradual shift to recurring revenue from nonrecurring revenue",
    "gold": "[Cause]  management rationalizes less profitable services to allocate resources to capture more profitable areas [Relation] cause [Effect] Our forecast includes a gradual shift to recurring revenue from nonrecurring revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the firm may have to concede and implement such policies, it will also likely take an overall higher percentage from the gross revenue generated per ride, as its price is likely to remain competitive with Uber's.",
    "output": "[Cause] its price is likely to remain competitive with Uber's [Relation] cause [Effect] it will also likely take an overall higher percentage from the gross revenue generated per ride",
    "gold": "[Cause] its price is likely to remain competitive with Uber's [Relation] cause [Effect] it will also likely take an overall higher percentage from the gross revenue generated per ride",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We don't see any contract renegotiation risk due to the attractive features of the contract, and to date, only non-Cheniere contracts have been challenged, mainly because of the oil-linked status and current poor economics.",
    "output": "[Cause] the attractive features of the contract [Relation] cause [Effect] We don't see any contract renegotiation risk",
    "gold": "[Cause] the attractive features of the contract [Relation] cause [Effect] We don't see any contract renegotiation risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We don't see any contract renegotiation risk due to the attractive features of the contract, and to date, only non-Cheniere contracts have been challenged, mainly because of the oil-linked status and current poor economics.",
    "output": "[Cause] the oil-linked status and current poor economics [Relation] cause [Effect] only non-Cheniere contracts have been challenged",
    "gold": "[Cause] the oil-linked status and current poor economics [Relation] cause [Effect] only non-Cheniere contracts have been challenged",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the high costs associated with chip design (approximately $0.5 billion for the most advanced nodes), it is essential for the chip design process to be error-free and have chips function as intended.",
    "output": "[Cause] the high costs associated with chip design [Relation] cause [Effect] it is essential for the chip design process to be error-free and have chips function as intended",
    "gold": "[Cause]  the high costs associated with chip design [Relation] cause [Effect]  it is essential for the chip design process to be error-free and have chips function as intended",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "History suggests this could be possible, as Illinois' early plans for recreational legalization would hand an advantage to companies with medical cultivation and dispensary licenses.",
    "output": "[Cause] Illinois' early plans for recreational legalization would hand an advantage to companies with medical cultivation and dispensary licenses [Relation] cause [Effect] this could be possible",
    "gold": "[Cause] Illinois' early plans for recreational legalization [Relation] cause [Effect] hand an advantage to companies with medical cultivation and dispensary licenses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, management has historically been aggressive when it comes to M&A, which can lead to integration risk and high financial leverage at certain points.",
    "output": "[Cause] management has historically been aggressive when it comes to M&A [Relation] cause [Effect] integration risk and high financial leverage at certain points",
    "gold": "[Cause] management has historically been aggressive when it comes to M&A [Relation] cause [Effect]  integration risk and high financial leverage at certain points",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If airlines use the current fleet to bring back capacity during a potential commercial aviation recovery, TransDigm would benefit from the continued maintenance of these aircraft.",
    "output": "[Cause] airlines use the current fleet to bring back capacity during a potential commercial aviation recovery [Relation] enable [Effect] TransDigm would benefit from the continued maintenance of these aircraft",
    "gold": "[Cause] airlines use the current fleet to bring back capacity during a potential commercial aviation recovery [Relation] cause [Effect] TransDigm would benefit from the continued maintenance of these aircraft",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Last, global oil companies such as Total often operate in frontier areas such as Mozambique or Papua New Guinea, where oil and gas development is new and can cause friction with local communities.",
    "output": "[Cause] oil and gas development is new [Relation] cause [Effect] friction with local communities",
    "gold": "[Cause] oil and gas development is new [Relation] cause [Effect]  friction with local communities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the drug was approved in 2017 in moderate to severe psoriasis, we expect follow up data in psoriasis as well new indications to drive the robust sales.",
    "output": "[Cause] follow up data in psoriasis as well new indications [Relation] enable [Effect] drive the robust sales",
    "gold": "[Cause]  the drug was approved in 2017 in moderate to severe psoriasis [Relation] cause [Effect] follow up data in psoriasis as well new indications to drive the robust sales",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The over 9,000 domestic stores are strategically located in high-traffic areas to generate over $13 million per store, which drives scale and remains a critical consideration in an increasingly competitive market that has witnessed rationalization.",
    "output": "[Cause] The over 9,000 domestic stores are strategically located in high-traffic areas to generate over $13 million per store [Relation] enable [Effect] drives scale and remains a critical consideration in an increasingly competitive market that has witnessed rationalization",
    "gold": "[Cause] The over 9,000 domestic stores are strategically located in high-traffic areas to generate over $13 million per store [Relation] enable [Effect] drives scale and remains a critical consideration in an increasingly competitive market that has witnessed rationalization",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect restaurant productivity will improve through new menu platforms (which have helped to broaden daypart penetration), reimaged restaurant formats, and executing Tim Hortons' product innovation and reimaging plans.",
    "output": "[Cause] new menu platforms (which have helped to broaden daypart penetration), reimaged restaurant formats, and executing Tim Hortons' product innovation and reimaging plans [Relation] enable [Effect] restaurant productivity will improve",
    "gold": "[Cause] new menu platforms (which have helped to broaden daypart penetration), reimaged restaurant formats, and executing Tim Hortons' product innovation and reimaging plans [Relation] enable [Effect] restaurant productivity will improve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Increasing regulation, and the complexities involved with international taxation, should allow Reuters to leverage economies of scale in its development of a tax and accounting database, which becomes incrementally better each time a user engages with its search functionalities.",
    "output": "[Cause] Increasing regulation, and the complexities involved with international taxation [Relation] enable [Effect] Reuters to leverage economies of scale in its development of a tax and accounting database",
    "gold": "[Cause] Increasing regulation, and the complexities involved with international taxation [Relation] enable [Effect]  Reuters to leverage economies of scale in its development of a tax and accounting database",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, higher trading volume for equity securities in general, makes efficient trading easier to achieve and reduces the tendency for liquidity to pool. As a result, price is an important consideration for equity exchanges, and ICE's NYSE offers rebates to maintain its trading volume and market share.",
    "output": "[Cause] higher trading volume for equity securities in general, makes efficient trading easier to achieve and reduces the tendency for liquidity to pool [Relation] cause [Effect] price is an important consideration for equity exchanges, and ICE's NYSE offers rebates to maintain its trading volume and market share",
    "gold": "[Cause]  higher trading volume for equity securities in general, makes efficient trading easier to achieve and reduces the tendency for liquidity to pool [Relation] cause [Effect] price is an important consideration for equity exchanges, and ICE's NYSE offers rebates to maintain its trading volume and market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, we think that the amount of data collected and analytical computations on such data in the cloud will continue to dramatically increase, in turn, benefiting many database providers, particularly MongoDB.",
    "output": "[Cause] the amount of data collected and analytical computations on such data in the cloud will continue to dramatically increase [Relation] cause [Effect] benefiting many database providers, particularly MongoDB",
    "gold": "[Cause] the amount of data collected and analytical computations on such data in the cloud will continue to dramatically increase [Relation] cause [Effect] benefiting many database providers, particularly MongoDB",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect these spreads to slightly widen over our five-year explicit forecast period, which should benefit Celanese due to the company's access to low-cost feedstock.",
    "output": "[Cause] the company's access to low-cost feedstock [Relation] cause [Effect] benefit Celanese",
    "gold": "[Cause] the company's access to low-cost feedstock [Relation] cause [Effect] these spreads to slightly widen over",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The 2020 dip in profitability due to COVID-19 notwithstanding, management's efforts to streamline operations and enhance efficiency took hold over the last few years, and we forecast operating margin to peak at 23% in 2025.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] The 2020 dip in profitability",
    "gold": "[Cause] The 2020 dip in profitability due to COVID-19 notwithstanding, management's efforts to streamline operations and enhance efficiency took hold over the last few years [Relation] enable [Effect] operating margin to peak at 23% in 2025",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Corning is constantly refining its OVD process to produce more fiber from a single blank, and we think it is able to leverage its centralized R&D spending to do so.",
    "output": "[Cause] Corning is constantly refining its OVD process [Relation] enable [Effect] produce more fiber from a single blank",
    "gold": "[Cause] leverage its centralized R&D spending [Relation] enable [Effect] Corning is constantly refining its OVD process",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Corning is constantly refining its OVD process to produce more fiber from a single blank, and we think it is able to leverage its centralized R&D spending to do so.",
    "output": "[Cause] leverage its centralized R&D spending [Relation] enable [Effect] Corning is constantly refining its OVD process to produce more fiber from a single blank",
    "gold": "[Cause] Corning is constantly refining its OVD process [Relation] enable [Effect] produce more fiber from a single blank",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The biggest issue for P&C insurers is climate change, as insurers typically cover weather-related losses, and climate change is likely to increase the frequency and severity of extreme 2 Jun 2021 05:00, UTCweather events.",
    "output": "[Cause] insurers typically cover weather-related losses, and climate change is likely to increase the frequency and severity of extreme 2 Jun 2021 05:00, UTCweather events [Relation] cause [Effect] The biggest issue for P&C insurers is climate change",
    "gold": "[Cause] insurers typically cover weather-related losses |  climate change is likely to increase the frequency and severity of extreme 2 Jun 2021 05:00, UTCweather events. [Relation] cause [Effect] The biggest issue for P&C insurers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The 2% decrease is due to slightly lower margin assumptions embedded in management's guidance, slightly offset by improving working capital dynamics and time value of money.",
    "output": "[Cause] slightly lower margin assumptions embedded in management's guidance [Relation] cause [Effect] The 2% decrease",
    "gold": "[Cause] slightly lower margin assumptions embedded in management's guidance [Relation] cause [Effect] The 2% decrease",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the medium term, Mattel could capture further gross margin leverage from optimized retail inventory positions, as shipments more closely align with demand, and from a focus on higher margin franchise brands.",
    "output": "[Cause] shipments more closely align with demand, and from a focus on higher margin franchise brands [Relation] cause [Effect] Mattel could capture further gross margin leverage from optimized retail inventory positions",
    "gold": "[Cause] shipments more closely align with demand, and from a focus on higher margin franchise brands [Relation] enable [Effect] Mattel could capture further gross margin leverage from optimized retail inventory positions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With its technology investments and scale-related advantages in local markets, Centene aims to remain the low-cost leader in this market.",
    "output": "[Cause] its technology investments and scale-related advantages in local markets [Relation] enable [Effect] Centene aims to remain the low-cost leader in this market",
    "gold": "[Cause] its technology investments and scale-related advantages in local markets [Relation] enable [Effect] Centene aims to remain the low-cost leader in this market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These advantages manifest in the form of lower operating costs, lower credit costs, lower regulatory costs, and lower absolute levels of and better diversification of risks, all of which allow the banks to achieve greater risk-adjusted returns.",
    "output": "[Cause] These advantages manifest in the form of lower operating costs, lower credit costs, lower regulatory costs, and lower absolute levels of and better diversification of risks [Relation] enable [Effect] the banks to achieve greater risk-adjusted returns",
    "gold": "[Cause] These advantages manifest in the form of lower operating costs, lower credit costs, lower regulatory costs, and lower absolute levels of and better diversification of risks [Relation] cause [Effect] the banks to achieve greater risk-adjusted returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While management believes that a focus on the production of hydroxide will shield the company from volatility in carbonate pricing, we contend that hydroxide pricing will also be subject to volatility as new supply enters the market.",
    "output": "[Cause] a focus on the production of hydroxide [Relation] enable [Effect] shield the company from volatility in carbonate pricing",
    "gold": "[Cause] a focus on the production of hydroxide [Relation] cause [Effect]  shield the company from volatility in carbonate pricing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While management believes that a focus on the production of hydroxide will shield the company from volatility in carbonate pricing, we contend that hydroxide pricing will also be subject to volatility as new supply enters the market.",
    "output": "[Cause] new supply enters the market [Relation] cause [Effect] hydroxide pricing will also be subject to volatility",
    "gold": "[Cause] new supply enters the market [Relation] cause [Effect] hydroxide pricing will also be subject to volatility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Exelon's biggest threat used to be political developments that would reregulate competitive electricity markets in the Midwest and Mid-Atlantic.",
    "output": "[Cause] Exelon's biggest threat used to be political developments [Relation] enable [Effect] reregulate competitive electricity markets in the Midwest and Mid-Atlantic",
    "gold": "[Cause] Exelon's biggest threat used to be political developments [Relation] cause [Effect] reregulate competitive electricity markets in the Midwest and Mid-Atlantic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Professors often develop course curricula based on Wiley's textbook offerings (or use volumes they have authored themselves and published through Wiley), and switching to a different volume frequently requires overhauling the syllabus.",
    "output": "[Cause] switching to a different volume frequently requires overhauling the syllabus [Relation] cause [Effect] Professors often develop course curricula based on Wiley's textbook offerings (or use volumes they have authored themselves and published through Wiley)",
    "gold": "[Cause] switching to a different volume frequently requires overhauling the syllabus [Relation] cause [Effect] Professors often develop course curricula based on Wiley's textbook offerings (or use volumes they have authored themselves and published through Wiley)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Crown's exposure to emerging markets will lead to higher top-line growth in the long run, as discretionary income growth leads to higher consumption of beer and soft drinks.",
    "output": "[Cause] discretionary income growth leads to higher consumption of beer and soft drinks [Relation] cause [Effect] Crown's exposure to emerging markets will lead to higher top-line growth in the long run",
    "gold": "[Cause] discretionary income growth leads to higher consumption of beer and soft drinks [Relation] cause [Effect] Crown's exposure to emerging markets will lead to higher top-line growth in the long run",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The decrease in our valuation is mainly from reducing our medium- to long-term forecast for trading volumes, as the high volatility and trading volumes that occurred recently have begun to subside.",
    "output": "[Cause] reducing our medium- to long-term forecast for trading volumes [Relation] cause [Effect] The decrease in our valuation",
    "gold": "[Cause] reducing our medium- to long-term forecast for trading volumes [Relation] cause [Effect] The decrease in our valuation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The decrease in our valuation is mainly from reducing our medium- to long-term forecast for trading volumes, as the high volatility and trading volumes that occurred recently have begun to subside.",
    "output": "[Cause] the high volatility and trading volumes that occurred recently have begun to subside [Relation] cause [Effect] The decrease in our valuation",
    "gold": "[Cause] the high volatility and trading volumes that occurred recently have begun to subside [Relation] cause [Effect] reducing our medium- to long-term forecast for trading volumes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In response to the increasingly competitive tractor segment, Agco expanded its product portfolio to incorporate grain storage and seed handling machinery with the acquisitions of GSI and Cimbria in 2011 and 2016, respectively.",
    "output": "[Cause] the acquisitions of GSI and Cimbria in 2011 and 2016, respectively [Relation] enable [Effect] Agco expanded its product portfolio to incorporate grain storage and seed handling machinery",
    "gold": "[Cause] Agco expanded its product portfolio to incorporate grain storage and seed handling machinery with the acquisitions of GSI and Cimbria in 2011 and 2016, respectively [Relation] enable [Effect] In response to the increasingly competitive tractor segment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Though the competitive landscape is not impervious to secular change, the matured spirits subsegments where Brown-Forman competes are the most inimical to disruption, in our view, which should allow the firm to maintain its positioning.",
    "output": "[Cause] the matured spirits subsegments where Brown-Forman competes are the most inimical to disruption [Relation] enable [Effect] the firm to maintain its positioning",
    "gold": "[Cause] the matured spirits subsegments where Brown-Forman competes are the most inimical to disruption [Relation] enable [Effect] the firm to maintain its positioning",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Typically, Permian Basin firms enjoy lower unit costs and wider margins than peers operating elsewhere, due to relatively high initial production rates, favorable oil cuts, and modest unit costs.",
    "output": "[Cause] relatively high initial production rates, favorable oil cuts, and modest unit costs [Relation] cause [Effect] Permian Basin firms enjoy lower unit costs and wider margins than peers operating elsewhere",
    "gold": "[Cause] relatively high initial production rates, favorable oil cuts, and modest unit costs [Relation] cause [Effect] Permian Basin firms enjoy lower unit costs and wider margins than peers operating elsewhere",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also think ad revenue growth (driven by more ads placed on podcast platforms and overall user growth) can expand gross margins.",
    "output": "[Cause] ad revenue growth [Relation] enable [Effect] expand gross margins",
    "gold": "[Cause] ad revenue growth [Relation] enable [Effect] expand gross margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the timing of the Bucyrus acquisition may have been questionable, it ultimately made Caterpillar a stronger competitor against Komatsu.",
    "output": "[Cause] the timing of the Bucyrus acquisition [Relation] cause [Effect] Caterpillar a stronger competitor against Komatsu",
    "gold": "[Cause] the timing of the Bucyrus acquisition [Relation] cause [Effect]  Caterpillar a stronger competitor against Komatsu",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe ITT is well positioned in the rail business, given its strong presence in the European market, where we anticipate most of the industry's growth will come from.",
    "output": "[Cause] its strong presence in the European market [Relation] cause [Effect] ITT is well positioned in the rail business",
    "gold": "[Cause]  its strong presence in the European market [Relation] cause [Effect] ITT is well positioned in the rail business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Such growth in paid member count, coupled with 4% growth in average revenue per paying user, we think will result in a 19% five-year CAGR in dating revenue growth.",
    "output": "[Cause] Such growth in paid member count, coupled with 4% growth in average revenue per paying user [Relation] cause [Effect] a 19% five-year CAGR in dating revenue growth",
    "gold": "[Cause] Such growth in paid member count, coupled with 4% growth in average revenue per paying user [Relation] cause [Effect] a 19% five-year CAGR in dating revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see operating margins benefiting from these factors, as well as expense leverage from the operational optimization of technology initiatives, and partially offset by robust advertising.",
    "output": "[Cause] robust advertising [Relation] prevent [Effect] expense leverage from the operational optimization of technology initiatives",
    "gold": "[Cause]  robust advertising [Relation] prevent [Effect] expense leverage from the operational optimization of technology initiatives",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Stericycle has made strides expanding its model beyond the core medical waste business by offering communication services, secure information destruction, and hazardous waste disposal.",
    "output": "[Cause] offering communication services, secure information destruction, and hazardous waste disposal [Relation] enable [Effect] Stericycle has made strides expanding its model beyond the core medical waste business",
    "gold": "[Cause] offering communication services, secure information destruction, and hazardous waste disposal [Relation] enable [Effect] Stericycle has made strides expanding its model beyond the core medical waste business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Rising consumer packaged good penetration in emerging markets should add to label growth, while growth in omnichannel retailing will aid RFID sales at Avery Dennison.",
    "output": "[Cause] Rising consumer packaged good penetration in emerging markets [Relation] enable [Effect] add to label growth",
    "gold": "[Cause] Rising consumer packaged good penetration in emerging markets [Relation] cause [Effect] add to label growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Rising consumer packaged good penetration in emerging markets should add to label growth, while growth in omnichannel retailing will aid RFID sales at Avery Dennison.",
    "output": "[Cause] growth in omnichannel retailing [Relation] enable [Effect] aid RFID sales at Avery Dennison",
    "gold": "[Cause] growth in omnichannel retailing [Relation] cause [Effect] aid RFID sales at Avery Dennison",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Going forward, while Merck's R&amp;D productivity has been below-par in the past, two recently approved drugs (Mavenclad in MS and Bavencio in a variety of cancers) and its other pipeline candidates look likely help Merck's healthcare business grow, despite ongoing declines in some of its top products.",
    "output": "[Cause] two recently approved drugs (Mavenclad in MS and Bavencio in a variety of cancers) and its other pipeline candidates [Relation] enable [Effect] help Merck's healthcare business grow",
    "gold": "[Cause] two recently approved drugs (Mavenclad in MS and Bavencio in a variety of cancers) and its other pipeline candidates [Relation] enable [Effect] help Merck's healthcare business grow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In diagnostics, disruptive technologies and involvement in emerging markets, particularly in China and India, impose a risk as falling birth rates in China can cause some skepticism for growth prospects related to birth screening.",
    "output": "[Cause] falling birth rates in China can cause some skepticism for growth prospects related to birth screening [Relation] cause [Effect] In diagnostics, disruptive technologies and involvement in emerging markets, particularly in China and India, impose a risk",
    "gold": "[Cause] falling birth rates in China can cause some skepticism for growth prospects related to birth screening [Relation] enable [Effect] In diagnostics, disruptive technologies and involvement in emerging markets, particularly in China and India, impose a risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Investment spending should slowly shift toward digitalising the business as larger expense items, related to regulatory requirements such as ring-fencing, are in the rearview mirror.",
    "output": "[Cause] larger expense items, related to regulatory requirements such as ring-fencing, are in the rearview mirror [Relation] cause [Effect] Investment spending should slowly shift toward digitalising the business",
    "gold": "[Cause] larger expense items, related to regulatory requirements such as ring-fencing, are in the rearview mirror [Relation] cause [Effect] Investment spending should slowly shift toward digitalising the business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, Solstice remains a liquid for an extended period compared with alternatives, given its low boiling point but high heat of vaporization.",
    "output": "[Cause] its low boiling point but high heat of vaporization [Relation] cause [Effect] Solstice remains a liquid for an extended period compared with alternatives",
    "gold": "[Cause] its low boiling point but high heat of vaporization [Relation] cause [Effect] Solstice remains a liquid for an extended period compared with alternatives",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The Ducorit grout Densit sells is pumpable, exhibits extremely high bond strength, is erosion-resistant, and doesn't mix with seawater, all which eliminate the risk of downtime.",
    "output": "[Cause] The Ducorit grout Densit sells is pumpable, exhibits extremely high bond strength, is erosion-resistant, and doesn't mix with seawater [Relation] cause [Effect] eliminate the risk of downtime",
    "gold": "[Cause] The Ducorit grout Densit sells is pumpable, exhibits extremely high bond strength, is erosion-resistant, and doesn't mix with seawater [Relation] enable [Effect] eliminate the risk of downtime",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the COVID-19 outbreak has lifted near-term revenue as shoppers stock up and stay home, increased digital transactions could linger, shifting sales into a less lucrative channel long term.",
    "output": "[Cause] shoppers stock up and stay home [Relation] cause [Effect] the COVID-19 outbreak has lifted near-term revenue",
    "gold": "[Cause] shoppers stock up and stay home [Relation] cause [Effect]  the COVID-19 outbreak has lifted near-term revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the COVID-19 outbreak has lifted near-term revenue as shoppers stock up and stay home, increased digital transactions could linger, shifting sales into a less lucrative channel long term.",
    "output": "[Cause] increased digital transactions could linger [Relation] cause [Effect] shifting sales into a less lucrative channel long term",
    "gold": "[Cause] increased digital transactions could linger [Relation] enable [Effect] shifting sales into a less lucrative channel long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "China has increased spending in grain markets to feed its growing hog herd population that was decimated by a swine flu outbreak in 2018.",
    "output": "[Cause] China has increased spending in grain markets [Relation] enable [Effect] feed its growing hog herd population",
    "gold": "[Cause] China has increased spending in grain markets [Relation] enable [Effect] feed its growing hog herd population",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company has no production cost advantage, as it sources its apparel from many of the same manufacturers as other fashion retailers.",
    "output": "[Cause] it sources its apparel from many of the same manufacturers as other fashion retailers [Relation] cause [Effect] The company has no production cost advantage",
    "gold": "[Cause] it sources its apparel from many of the same manufacturers as other fashion retailers [Relation] cause [Effect] The company has no production cost advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Components are sometimes switched, but not frequently, which we think will allow the firm to generate economic returns over the long term.",
    "output": "[Cause] Components are sometimes switched, but not frequently [Relation] enable [Effect] the firm to generate economic returns over the long term",
    "gold": "[Cause] Components are sometimes switched, but not frequently [Relation] enable [Effect] the firm to generate economic returns over the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Data analytics and intent-based networking make Cisco stickier with the customer, since losing such valuable software capabilities can be detrimental to business results and network operations.",
    "output": "[Cause] losing such valuable software capabilities can be detrimental to business results and network operations [Relation] cause [Effect] Cisco stickier with the customer",
    "gold": "[Cause] losing such valuable software capabilities [Relation] prevent [Effect] business results and network operations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Along with the disruption from a potential new entrant into the mobile market, capital allocation is the biggest risk associated with investing in SK Telecom, in our view.",
    "output": "[Cause] the disruption from a potential new entrant into the mobile market [Relation] cause [Effect] capital allocation is the biggest risk associated with investing in SK Telecom",
    "gold": "[Cause] the disruption from a potential new entrant into the mobile market [Relation] cause [Effect] capital allocation is the biggest risk associated with investing in SK Telecom",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's scale is a key differentiator, as competitors are significantly smaller and incapable of offering physician visits on demand.",
    "output": "[Cause] competitors are significantly smaller and incapable of offering physician visits on demand [Relation] cause [Effect] The company's scale is a key differentiator",
    "gold": "[Cause] competitors are significantly smaller and incapable of offering physician visits on demand [Relation] cause [Effect] The company's scale is a key differentiator",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This dependence on an ownership-driven model is not uncommon for a hotelier earlier in its life cycle like Hyatt (in 2020, Hyatt's 238,425 rooms represented around a midteens percentage of those of narrow-moat company Marriott). This is because hoteliers often need to prove that their concepts can perform before third parties gain enough confidence to join the company's portfolio.",
    "output": "[Cause] hoteliers often need to prove that their concepts can perform before third parties gain enough confidence to join the company's portfolio [Relation] cause [Effect] This dependence on an ownership-driven model is not uncommon for a hotelier earlier in its life cycle like Hyatt (in 2020, Hyatt's 238,425 rooms represented around a midteens percentage of those of narrow-moat company Marriott)",
    "gold": "[Cause]  hoteliers often need to prove that their concepts can perform before third parties gain enough confidence to join the company's portfolio [Relation] cause [Effect] This dependence on an ownership-driven model is not uncommon for a hotelier earlier in its life cycle like Hyatt (in 2020, Hyatt's 238,425 rooms represented around a midteens percentage of those of narrow-moat company Marriott)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the company's differentiated expertise and footing has largely evaporated with the expiration of key patents and although the company's brand provides some market recognition, we anticipate the company's mass production will accelerate the decay over the next few years.",
    "output": "[Cause] the expiration of key patents [Relation] cause [Effect] the company's differentiated expertise and footing has largely evaporated",
    "gold": "[Cause]  the company's differentiated expertise and footing has largely evaporated [Relation] cause [Effect] the company's mass production will accelerate the decay over the next few years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the company's differentiated expertise and footing has largely evaporated with the expiration of key patents and although the company's brand provides some market recognition, we anticipate the company's mass production will accelerate the decay over the next few years.",
    "output": "[Cause] the company's mass production [Relation] cause [Effect] accelerate the decay over the next few years",
    "gold": "[Cause]  the expiration of key patents [Relation] cause [Effect]  the company's differentiated expertise and footing has largely evaporated",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect the company to reinvest some of these cost savings in building its network through brand marketing, loyalty and user experience enhancements over the next few years.",
    "output": "[Cause] brand marketing, loyalty and user experience enhancements over the next few years [Relation] enable [Effect] the company to reinvest some of these cost savings in building its network",
    "gold": "[Cause]  brand marketing, loyalty and user experience enhancements over the next few years [Relation] enable [Effect] the company to reinvest some of these cost savings in building its network",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We give BioNTech a very high uncertainty rating due to the range of outcomes it faces related to the development of its early-stage pipeline, where we see very high uncertainty related to the commercial success of its medicines.",
    "output": "[Cause] the range of outcomes it faces related to the development of its early-stage pipeline [Relation] cause [Effect] We give BioNTech a very high uncertainty rating",
    "gold": "[Cause] the range of outcomes it faces related to the development of its early-stage pipeline [Relation] cause [Effect] We give BioNTech a very high uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Typically, customers retain International Flavors &amp; Fragrances as the sole supplier of custom flavor and fragrance solutions for the full lifecycle of a given product. Accordingly, International Flavors &amp; Fragrances becomes deeply ingrained in the supply chains of its customers, serving as a key supplier in the manufacture of well-established brands as well as development efforts for new products.",
    "output": "[Cause] Typically, customers retain International Flavors &amp; Fragrances as the sole supplier of custom flavor and fragrance solutions for the full lifecycle of a given product [Relation] cause [Effect] International Flavors &amp; Fragrances becomes deeply ingrained in the supply chains of its customers, serving as a key supplier in the manufacture of well-established brands as well as development efforts for new products",
    "gold": "[Cause] Typically, customers retain International Flavors &amp; Fragrances as the sole supplier of custom flavor and fragrance solutions for the full lifecycle of a given product [Relation] cause [Effect] International Flavors &amp; Fragrances becomes deeply ingrained in the supply chains of its customers, serving as a key supplier in the manufacture of well-established brands as well as development efforts for new products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a large customer base and stable retention rates, Paylocity has excellent visibility on revenue expectations for the short and medium term.",
    "output": "[Cause] a large customer base and stable retention rates [Relation] enable [Effect] Paylocity has excellent visibility on revenue expectations for the short and medium term",
    "gold": "[Cause] a large customer base and stable retention rates [Relation] cause [Effect]  Paylocity has excellent visibility on revenue expectations for the short and medium term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sales associates can then provide additional support, boosting the customer experience by comparing products and accessories using their product knowledge.",
    "output": "[Cause] Sales associates can then provide additional support [Relation] enable [Effect] boosting the customer experience by comparing products and accessories using their product knowledge",
    "gold": "[Cause] boosting the customer experience by comparing products and accessories using their product knowledge [Relation] cause [Effect] Sales associates can then provide additional support",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company suffered a 2% sales decline in the quarter as it recovered from temporary store closures due to the virus, but unexpectedly achieved a gross margin of 33.3% (280 basis points better than we expected) on very low discounting and a favorable wholesale mix.",
    "output": "[Cause] it recovered from temporary store closures due to the virus [Relation] cause [Effect] The company suffered a 2% sales decline in the quarter",
    "gold": "[Cause] very low discounting and a favorable wholesale mix [Relation] enable [Effect] achieved a gross margin of 33.3% (280 basis points better than we expected)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company suffered a 2% sales decline in the quarter as it recovered from temporary store closures due to the virus, but unexpectedly achieved a gross margin of 33.3% (280 basis points better than we expected) on very low discounting and a favorable wholesale mix.",
    "output": "[Cause] it recovered from temporary store closures due to the virus [Relation] cause [Effect] The company suffered a 2% sales decline in the quarter",
    "gold": "[Cause] it recovered from temporary store closures due to the virus [Relation] cause [Effect] The company suffered a 2% sales decline in the quarter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As such, we expect Mondelez will be able to withstand competitive challenges longer term because this self-reinforcing combination of sources of its competitive edge creates high barriers to profitable entry, sheltering vendors that are entrenched in retailers' supply chains.",
    "output": "[Cause] this self-reinforcing combination of sources of its competitive edge creates high barriers to profitable entry [Relation] cause [Effect] sheltering vendors that are entrenched in retailers' supply chains",
    "gold": "[Cause] this self-reinforcing combination of sources of its competitive edge creates high barriers to profitable entry [Relation] enable [Effect] sheltering vendors that are entrenched in retailers' supply chains",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate that Santander Chile will encounter an improving Chilean economy over the next five years and that earnings will grow as a result.",
    "output": "[Cause] an improving Chilean economy over the next five years [Relation] cause [Effect] earnings will grow",
    "gold": "[Cause] an improving Chilean economy over the next five years [Relation] cause [Effect] earnings will grow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also believe margins should benefit from better growth over time, but the impact will be fairly modest, given the limited fixed costs in the business model.",
    "output": "[Cause] better growth over time [Relation] enable [Effect] margins should benefit",
    "gold": "[Cause] better growth over time [Relation] enable [Effect] margins should benefit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also believe margins should benefit from better growth over time, but the impact will be fairly modest, given the limited fixed costs in the business model.",
    "output": "[Cause] the limited fixed costs in the business model [Relation] cause [Effect] the impact will be fairly modest",
    "gold": "[Cause] the limited fixed costs in the business model [Relation] cause [Effect] the impact will be fairly modest",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Power transmission lines, along with other portions of the supply chain that Hubbell also serves, including step-up transformers, minimize power loss by boosting voltages at specific junctures along the electric supply chain.",
    "output": "[Cause] boosting voltages at specific junctures along the electric supply chain [Relation] enable [Effect] minimize power loss",
    "gold": "[Cause] minimize power loss [Relation] enable [Effect] boosting voltages at specific junctures along the electric supply chain",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect leverage on all operating expense lines, as well as cost of goods sold, to contribute to margin expansion over the next five years.",
    "output": "[Cause] leverage on all operating expense lines, as well as cost of goods sold [Relation] enable [Effect] margin expansion over the next five years",
    "gold": "[Cause] leverage on all operating expense lines, as well as cost of goods sold [Relation] cause [Effect] margin expansion over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, Komatsu is continuously improving its aftermarket services through its extensive distributor and service network as well as providing retail finance services to its customers.",
    "output": "[Cause] its extensive distributor and service network [Relation] enable [Effect] improving its aftermarket services",
    "gold": "[Cause] Komatsu is continuously improving its aftermarket services through its extensive distributor and service network [Relation] cause [Effect]  retail finance services to its customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Category leaders tend to be in an advantaged position to gain and retain shelf space, especially in Western markets, through the deployment of category captains into the channel to share local and category-level data with retailers. This creates a mutually beneficial relationship, in which the vendor becomes an important partner to the retailer, developing sales strategies to maximize volumes and retailers' margins, while at the same time prioritizing its own brands.",
    "output": "[Cause] Category leaders tend to be in an advantaged position to gain and retain shelf space, especially in Western markets, through the deployment of category captains into the channel to share local and category-level data with retailers [Relation] cause [Effect] creates a mutually beneficial relationship, in which the vendor becomes an important partner to the retailer, developing sales strategies to maximize volumes and retailers' margins, while at the same time prioritizing its own brands",
    "gold": "[Cause] Category leaders tend to be in an advantaged position to gain and retain shelf space, especially in Western markets, through the deployment of category captains into the channel to share local and category-level data with retailers [Relation] cause [Effect] creates a mutually beneficial relationship, in which the vendor becomes an important partner to the retailer, developing sales strategies to maximize volumes and retailers' margins, while at the same time prioritizing its own brands",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These high-yield loans drive the bank's exceptional net interest margins, which routinely exceed those of money center banks by 600 basis points. These advantages have routinely enabled Discover to earn ROEs in excess of 20% and repurchase more than 5% of its shares each year.",
    "output": "[Cause] These high-yield loans drive the bank's exceptional net interest margins, which routinely exceed those of money center banks by 600 basis points [Relation] enable [Effect] Discover to earn ROEs in excess of 20% and repurchase more than 5% of its shares each year",
    "gold": "[Cause] These high-yield loans drive the bank's exceptional net interest margins, which routinely exceed those of money center banks by 600 basis points [Relation] enable [Effect] Discover to earn ROEs in excess of 20% and repurchase more than 5% of its shares each year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a serial acquirer, Broadcom has seemingly perfected the process of purchasing semiconductor companies with best-of-breed products at attractive valuations, trimming noncore product lines to streamline the business, and ultimately driving nice cost synergies.",
    "output": "[Cause] trimming noncore product lines to streamline the business [Relation] enable [Effect] driving nice cost synergies",
    "gold": "[Cause] Broadcom has seemingly perfected the process of purchasing semiconductor companies with best-of-breed products at attractive valuations [Relation] enable [Effect] trimming noncore product lines to streamline the business, and ultimately driving nice cost synergies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we expect some store count growth, most of this increase will be driven by rising revenue per store, as the new HealthHub and other new store formats add to potential growth.",
    "output": "[Cause] the new HealthHub and other new store formats add to potential growth [Relation] cause [Effect] most of this increase will be driven by rising revenue per store",
    "gold": "[Cause]  store count growth [Relation] enable [Effect]  rising revenue per store",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Companies investing in factory automation equipment would more likely choose vendors where they are accustomed to the vendor's products to minimize risk, rather than dealing with the uncertainty of switching vendors and dealing with a new product they have not worked with.",
    "output": "[Cause] Companies investing in factory automation equipment would more likely choose vendors where they are accustomed to the vendor's products to minimize risk [Relation] enable [Effect] rather than dealing with the uncertainty of switching vendors and dealing with a new product they have not worked with",
    "gold": "[Cause] Companies investing in factory automation equipment would more likely choose vendors [Relation] enable [Effect]  they are accustomed to the vendor's products to minimize risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given its small market share, we do not think it has the power to negotiate favorable prices from vendors or suppliers.",
    "output": "[Cause] its small market share [Relation] prevent [Effect] it has the power to negotiate favorable prices from vendors or suppliers",
    "gold": "[Cause] its small market share [Relation] prevent [Effect] it has the power to negotiate favorable prices from vendors or suppliers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If recalls or product failure were to become a regular event, some current surgeons loyal to Smith & Nephew might consider switching to another company's implants and instrumentation.",
    "output": "[Cause] recalls or product failure were to become a regular event [Relation] cause [Effect] some current surgeons loyal to Smith & Nephew might consider switching to another company's implants and instrumentation",
    "gold": "[Cause]  recalls or product failure were to become a regular event [Relation] cause [Effect] some current surgeons loyal to Smith & Nephew might consider switching to another company's implants and instrumentation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In its rig aftermarket segment in particular, National Oilwell will likely combine its scale advantages and intangible assets with modest switching costs to earn solid economic profits at midcycle.",
    "output": "[Cause] National Oilwell will likely combine its scale advantages and intangible assets with modest switching costs [Relation] enable [Effect] earn solid economic profits at midcycle",
    "gold": "[Cause] National Oilwell will likely combine its scale advantages and intangible assets with modest switching costs [Relation] enable [Effect] earn solid economic profits at midcycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, barring a physical attack on TSMC's factories, we think the financial impact on TSMC is limited as current excess demand should cushion some of the decline from Chinese customers like HiSilicon.",
    "output": "[Cause] current excess demand [Relation] cause [Effect] cushion some of the decline from Chinese customers like HiSilicon",
    "gold": "[Cause]  barring a physical attack on TSMC's factories [Relation] cause [Effect] we think the financial impact on TSMC is limited",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, barring a physical attack on TSMC's factories, we think the financial impact on TSMC is limited as current excess demand should cushion some of the decline from Chinese customers like HiSilicon.",
    "output": "[Cause] current excess demand should cushion some of the decline from Chinese customers like HiSilicon [Relation] cause [Effect] the financial impact on TSMC is limited",
    "gold": "[Cause] current excess demand [Relation] enable [Effect] cushion some of the decline from Chinese customers like HiSilicon",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We project modest growth in Twitter's user base, due to the established presence of larger social networks such as Facebook and Instagram and faster-growing ones such as Snapchat.",
    "output": "[Cause] the established presence of larger social networks such as Facebook and Instagram and faster-growing ones such as Snapchat [Relation] cause [Effect] modest growth in Twitter's user base",
    "gold": "[Cause] the established presence of larger social networks such as Facebook and Instagram and faster-growing ones such as Snapchat [Relation] enable [Effect] modest growth in Twitter's user base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From our talks with an elevator SME executive, clients are willing to pay for a 99% yearly uptime, which means only three days of elevator downtime per year.",
    "output": "[Cause] clients are willing to pay for a 99% yearly uptime [Relation] cause [Effect] only three days of elevator downtime per year",
    "gold": "[Cause] clients are willing to pay for a 99% yearly uptime [Relation] cause [Effect]  only three days of elevator downtime per year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Polaris delivered first-quarter 2021 sales growth of 39% (to $1.95 billion) and adjusted EPS growth of 945% (to $2.30) thanks to solid consumer takeaway (retail sales up 70%) and the leverage of expenses.",
    "output": "[Cause] solid consumer takeaway (retail sales up 70%) and the leverage of expenses [Relation] cause [Effect] Polaris delivered first-quarter 2021 sales growth of 39% (to $1.95 billion) and adjusted EPS growth of 945% (to $2.30)",
    "gold": "[Cause]  solid consumer takeaway (retail sales up 70%) and the leverage of expenses [Relation] enable [Effect] Polaris delivered first-quarter 2021 sales growth of 39% (to $1.95 billion) and adjusted EPS growth of 945% (to $2.30)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, new competitors would have to develop a high-volume business to garner any power with vendors and move significant inventory through the retail channel.",
    "output": "[Cause] new competitors would have to develop a high-volume business [Relation] enable [Effect] garner any power with vendors and move significant inventory through the retail channel",
    "gold": "[Cause] new competitors would have to develop a high-volume business [Relation] enable [Effect] garner any power with vendors and move significant inventory through the retail channel",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Capri is investing in store remodels, store openings, and expanding the set of accessories for both Jimmy Choo and Versace, but we don't think these efforts will yield the intended gains, particularly given the severe interruption we expect from COVID-19.",
    "output": "[Cause] the severe interruption we expect from COVID-19 [Relation] prevent [Effect] these efforts will yield the intended gains",
    "gold": "[Cause] the severe interruption we expect from COVID-19 [Relation] prevent [Effect] these efforts will yield the intended gains",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Automakers' move to more global platforms is very good news for Adient since a supplier must be able to service the OEM consistently all over the world.",
    "output": "[Cause] a supplier must be able to service the OEM consistently all over the world [Relation] cause [Effect] Automakers' move to more global platforms is very good news for Adient",
    "gold": "[Cause] a supplier must be able to service the OEM consistently all over the world [Relation] cause [Effect] Automakers' move to more global platforms is very good news for Adient",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The stores have performed well despite steep miles driven declines since the pandemic began, but demand could fall if repairs and maintenance were pulled forward.",
    "output": "[Cause] the pandemic began [Relation] cause [Effect] The stores have performed well",
    "gold": "[Cause] repairs and maintenance were pulled forward [Relation] cause [Effect] demand could fall",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The stores have performed well despite steep miles driven declines since the pandemic began, but demand could fall if repairs and maintenance were pulled forward.",
    "output": "[Cause] repairs and maintenance were pulled forward [Relation] cause [Effect] demand could fall",
    "gold": "[Cause] the pandemic began [Relation] cause [Effect] The stores have performed well despite steep miles driven declines",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, the parts manufacturers, who also use Fanuc's CNCs and/or Robomachines, must be able to shape these parts with perfect precision, which is where CNC and servo technologies for robotics and machine tools become crucial.",
    "output": "[Cause] the parts manufacturers, who also use Fanuc's CNCs and/or Robomachines, must be able to shape these parts with perfect precision [Relation] enable [Effect] CNC and servo technologies for robotics and machine tools become crucial",
    "gold": "[Cause] the parts manufacturers, who also use Fanuc's CNCs and/or Robomachines [Relation] enable [Effect] shape these parts with perfect precision",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, due to COVID-19 and the increasing uncertainty around the economy and the potential downside, we are currently assigning PNC a high uncertainty rating.",
    "output": "[Cause] COVID-19 and the increasing uncertainty around the economy and the potential downside [Relation] cause [Effect] we are currently assigning PNC a high uncertainty rating",
    "gold": "[Cause]  COVID-19 and the increasing uncertainty around the economy and the potential downside [Relation] cause [Effect] we are currently assigning PNC a high uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Equifax use third parties for some of its data, and its business could be disrupted if it lost access to key data suppliers.",
    "output": "[Cause] it lost access to key data suppliers [Relation] cause [Effect] its business could be disrupted",
    "gold": "[Cause] Equifax use third parties for some of its data [Relation] prevent [Effect]  lost access to key data suppliers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While Wipro is not alone in such labor arbitrage, with Infosys and TCS among such peers, IT services companies that partake in such hefty labor arbitrage do pose a significant benefit, contributing to excess ROICs.",
    "output": "[Cause] IT services companies that partake in such hefty labor arbitrage do pose a significant benefit [Relation] cause [Effect] excess ROICs",
    "gold": "[Cause] IT services companies that partake in such hefty labor arbitrage do pose a significant benefit [Relation] enable [Effect] excess ROICs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Increased user base and time spent on Weibo has in turn attracted more key opinion leaders and multichannel networks (entities that affiliate with multiple Weibo channels that assist in operations and monetization) to distribute their content on Weibo, which in return is helping to improve and lengthen user experiences.",
    "output": "[Cause] Increased user base and time spent on Weibo [Relation] enable [Effect] attracted more key opinion leaders and multichannel networks (entities that affiliate with multiple Weibo channels that assist in operations and monetization) to distribute their content on Weibo",
    "gold": "[Cause] Increased user base and time spent on Weibo [Relation] enable [Effect] has in turn attracted more key opinion leaders and multichannel networks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, demand has been shrinking as patients are cured, and competition from AbbVie and Merck has led to several rounds of significant price discounting.",
    "output": "[Cause] demand has been shrinking as patients are cured, and competition from AbbVie and Merck [Relation] cause [Effect] several rounds of significant price discounting",
    "gold": "[Cause]  demand has been shrinking as patients are cured, and competition from AbbVie and Merck [Relation] cause [Effect]  several rounds of significant price discounting",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the number of contacts increases, more developers will choose to develop mini programs for Weixin or mobile QQ, and existing users can benefit from having access to additional mini programs.",
    "output": "[Cause] the number of contacts increases [Relation] cause [Effect] more developers will choose to develop mini programs for Weixin or mobile QQ, and existing users can benefit from having access to additional mini programs",
    "gold": "[Cause] more developers will choose to develop mini programs for Weixin or mobile QQ [Relation] enable [Effect] existing users can benefit from having access to additional mini programs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "IUDs also tend to be litigious products that, unless having been on market for decades and having a proven safety record, such as Paragard, can be risky additions to drug manufacturers' product portfolios, both in direct and reputational costs.",
    "output": "[Cause] IUDs also tend to be litigious products [Relation] cause [Effect] risky additions to drug manufacturers' product portfolios, both in direct and reputational costs",
    "gold": "[Cause] having been on market for decades and having a proven safety record [Relation] enable [Effect] UDs also tend to be litigious products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Qorvo bounced back in fiscal 2021 with 24% growth, as 5G RF content gains within wireless infrastructure equipment and smartphones (most notably Apple's iPhone 12 series) more than offset any troubles associated with the COVID-19 pandemic.",
    "output": "[Cause] 5G RF content gains within wireless infrastructure equipment and smartphones (most notably Apple's iPhone 12 series) more than offset any troubles associated with the COVID-19 pandemic [Relation] cause [Effect] Qorvo bounced back in fiscal 2021 with 24% growth",
    "gold": "[Cause]  the COVID-19 pandemic. [Relation] prevent [Effect] Qorvo bounced back in fiscal 2021 with 24% growth, as 5G RF content gains within wireless infrastructure equipment and smartphones (most notably Apple's iPhone 12 series)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we expect an eventual commoditization of storage technology to cause Dell Technologies to rely on cross-selling storage with other products like servers and HCI.",
    "output": "[Cause] an eventual commoditization of storage technology [Relation] cause [Effect] Dell Technologies to rely on cross-selling storage with other products like servers and HCI",
    "gold": "[Cause] an eventual commoditization of storage technology [Relation] cause [Effect] Dell Technologies to rely on cross-selling storage with other products like servers and HCI",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the lifting of lockdown restrictions and speed of vaccine rollout representing the key (and unfortunately, exogenous) variables, we've modeled revenue growth of 11.9% and 9.3% in 2021 and 2022, as demand begins to stabilize in key European markets (notably, U.S.",
    "output": "[Cause] the lifting of lockdown restrictions and speed of vaccine rollout representing the key (and unfortunately, exogenous) variables [Relation] cause [Effect] revenue growth of 11.9% and 9.3% in 2021 and 2022",
    "gold": "[Cause] the lifting of lockdown restrictions and speed of vaccine rollout representing the key (and unfortunately, exogenous) variables [Relation] cause [Effect] demand begins to stabilize in key European markets (notably, U.S",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With the lifting of lockdown restrictions and speed of vaccine rollout representing the key (and unfortunately, exogenous) variables, we've modeled revenue growth of 11.9% and 9.3% in 2021 and 2022, as demand begins to stabilize in key European markets (notably, U.S.",
    "output": "[Cause] demand begins to stabilize in key European markets (notably, U.S.",
    "gold": "[Cause] revenue growth of 11.9% and 9.3% in 2021 and 2022 [Relation] cause [Effect] demand begins to stabilize in key European markets (notably, U.S",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We point to the fact that Splunk's forwarders have to be integrated with a wide variety of software within a business so it can gather relevant data.",
    "output": "[Cause] Splunk's forwarders have to be integrated with a wide variety of software within a business [Relation] enable [Effect] gather relevant data",
    "gold": "[Cause] Splunk's forwarders have to be integrated with a wide variety of software within a business [Relation] enable [Effect] gather relevant data",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the small size of the early-stage trials, enrollment is typically an easy process and there is minimal strategy going into trial design decisions relative to large late-stage trials.",
    "output": "[Cause] the small size of the early-stage trials [Relation] cause [Effect] enrollment is typically an easy process and there is minimal strategy going into trial design decisions relative to large late-stage trials",
    "gold": "[Cause] the small size of the early-stage trials [Relation] cause [Effect] enrollment is typically an easy process and there is minimal strategy going into trial design decisions relative to large late-stage trials",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Home Depot should continue to capture top-line growth beyond 2021, bolstered by aging housing stock and rising home prices, even when lapping robust COVID-19 demand.",
    "output": "[Cause] aging housing stock and rising home prices [Relation] enable [Effect] Home Depot should continue to capture top-line growth beyond 2021",
    "gold": "[Cause]  aging housing stock and rising home prices [Relation] enable [Effect] Home Depot should continue to capture top-line growth beyond 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After a lackluster 2019, where sales contracted 16% because of a bad Argentine economy, we anticipate revenue in the region will increase by low single digits in 2020.",
    "output": "[Cause] a bad Argentine economy [Relation] cause [Effect] sales contracted 16%",
    "gold": "[Cause]  a lackluster 2019 [Relation] cause [Effect] revenue in the region will increase by low single digits",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Governments can use auctions to favor certain firms, and limiting spectrum availability can increase the risk that carriers paying too much for licenses, hurting returns on capital.",
    "output": "[Cause] limiting spectrum availability [Relation] cause [Effect] increase the risk that carriers paying too much for licenses, hurting returns on capital",
    "gold": "[Cause] limiting spectrum availability [Relation] enable [Effect] increase the risk that carriers paying too much for licenses, hurting returns on capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The robust capture of customer purchasing patterns allows the firm to market tactically, since vast amounts of transactions can become predictive in nature.",
    "output": "[Cause] vast amounts of transactions can become predictive in nature [Relation] enable [Effect] the firm to market tactically",
    "gold": "[Cause] The robust capture of customer purchasing pattern [Relation] enable [Effect] the firm to market tactically",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given our view that fiscal 2018 represented cyclical peak market conditions, we expect lower margins to persist over the long term as scrap prices remain lower for longer.",
    "output": "[Cause] scrap prices remain lower for longer [Relation] cause [Effect] lower margins to persist over the long term",
    "gold": "[Cause] scrap prices remain lower for longer [Relation] cause [Effect]  lower margins to persist over the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given our view that fiscal 2018 represented cyclical peak market conditions, we expect lower margins to persist over the long term as scrap prices remain lower for longer.",
    "output": "[Cause] scrap prices remain lower for longer [Relation] cause [Effect] lower margins to persist over the long term",
    "gold": "[Cause] our view [Relation] enable [Effect] we expect",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Some competitors have attempted to enter the value-added services space, but without success, as the capabilities Arrow and Avnet have acquired over many years are not cheap.",
    "output": "[Cause] the capabilities Arrow and Avnet have acquired over many years are not cheap [Relation] cause [Effect] Some competitors have attempted to enter the value-added services space, but without success",
    "gold": "[Cause] the capabilities Arrow and Avnet have acquired over many years are not cheap [Relation] cause [Effect] Some competitors have attempted to enter the value-added services space, but without success",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, food safety issues are always a risk for food processors, but we expect these issues to also remain immaterial (including the recent recall of 9 million pounds of chicken), given Tyson's significant resources and diverse product portfolio.",
    "output": "[Cause] Tyson's significant resources and diverse product portfolio [Relation] cause [Effect] these issues to also remain immaterial",
    "gold": "[Cause]  Tyson's significant resources and diverse product portfolio [Relation] cause [Effect]  issues to also remain immaterial (including the recent recall of 9 million pounds of chicken)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Gross margins should remain near their 53% five-year average, with pressure from rising commercial sales offsetting cost leverage. These factors should support a continued high payables/inventory ratio, which we assume stays near the firm's 112% five-year average over the long term.",
    "output": "[Cause] Gross margins should remain near their 53% five-year average, with pressure from rising commercial sales offsetting cost leverage [Relation] enable [Effect] support a continued high payables/inventory ratio, which we assume stays near the firm's 112% five-year average over the long term",
    "gold": "[Cause] Gross margins should remain near their 53% five-year average, with pressure from rising commercial sales offsetting cost leverage [Relation] enable [Effect] support a continued high payables/inventory ratio, which we assume stays near the firm's 112% five-year average over the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect these returns to average above 40% during the next five years, remaining strong and helped by continued cost leverage in fiscal 2022 stemming from higher volume demand as COVID-19 boosts the sales of products that offer social distancing.",
    "output": "[Cause] higher volume demand [Relation] cause [Effect] continued cost leverage in fiscal 2022",
    "gold": "[Cause] continued cost leverage in fiscal 2022 [Relation] enable [Effect]  these returns to average above 40% during the next five years, remaining strong",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect these returns to average above 40% during the next five years, remaining strong and helped by continued cost leverage in fiscal 2022 stemming from higher volume demand as COVID-19 boosts the sales of products that offer social distancing.",
    "output": "[Cause] COVID-19 boosts the sales of products that offer social distancing [Relation] cause [Effect] continued cost leverage in fiscal 2022",
    "gold": "[Cause] higher volume demand [Relation] cause [Effect] continued cost leverage in fiscal 2022",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect these returns to average above 40% during the next five years, remaining strong and helped by continued cost leverage in fiscal 2022 stemming from higher volume demand as COVID-19 boosts the sales of products that offer social distancing.",
    "output": "[Cause] COVID-19 boosts the sales of products that offer social distancing [Relation] cause [Effect] continued cost leverage in fiscal 2022",
    "gold": "[Cause]  COVID-19 boosts the sales of products that offer social distancing [Relation] cause [Effect] higher volume demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Being a systemically important financial institution with implicit and explicit backing by the government brings increased scrutiny of the company's operations and restrictions on activities, such as principal investments.",
    "output": "[Cause] Being a systemically important financial institution with implicit and explicit backing by the government [Relation] cause [Effect] increased scrutiny of the company's operations and restrictions on activities, such as principal investments",
    "gold": "[Cause] Being a systemically important financial institution with implicit and explicit backing by the government [Relation] cause [Effect] increased scrutiny of the company's operations and restrictions on activities, such as principal investments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The transaction isn't completely unexpected, as management was previously pursuing 'strategic alternatives' for its various divisions, but put it on hold earlier this year due to pandemic disruption.",
    "output": "[Cause] pandemic disruption [Relation] cause [Effect] put it on hold earlier this year",
    "gold": "[Cause] pandemic disruption [Relation] cause [Effect] put it on hold earlier this year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The transaction isn't completely unexpected, as management was previously pursuing 'strategic alternatives' for its various divisions, but put it on hold earlier this year due to pandemic disruption.",
    "output": "[Cause] pandemic disruption [Relation] cause [Effect] put it on hold earlier this year",
    "gold": "[Cause] management was previously pursuing 'strategic alternatives' for its various divisions [Relation] cause [Effect] The transaction isn't completely unexpected",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We anticipate that about three quarters of fleet growth will be in narrow bodied aircraft, as advancing technology unlocks the commercial viability of new routes.",
    "output": "[Cause] advancing technology unlocks the commercial viability of new routes [Relation] cause [Effect] about three quarters of fleet growth will be in narrow bodied aircraft",
    "gold": "[Cause] advancing technology unlocks the commercial viability of new routes [Relation] enable [Effect] about three quarters of fleet growth will be in narrow bodied aircraft",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, we believe CIBC has improved its core operating performance over the years, but now the bank is hitting a bit of a wall, as growth slows, and the bank's expense base is still rising as CIBC continues to invest in technology and other aspects of the franchise.",
    "output": "[Cause] CIBC continues to invest in technology and other aspects of the franchise [Relation] cause [Effect] the bank's expense base is still rising",
    "gold": "[Cause] CIBC continues to invest in technology [Relation] cause [Effect] aspects of the franchise",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We upgraded the rating to wide in 2017 because of Plains' extensive asset base across the entire midstream value chain in the Permian Basin, which is the lowest-cost U.S.",
    "output": "[Cause] Plains' extensive asset base across the entire midstream value chain in the Permian Basin [Relation] cause [Effect] We upgraded the rating to wide in 2017",
    "gold": "[Cause] Plains' extensive asset base across the entire midstream value chain in the Permian Basin [Relation] cause [Effect] We upgraded the rating to wide in 2017",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This brief respite from PAMA cuts and the strong demand for COVID-19 leads to our estimate for average annual top-line growth of 3% through 2024.",
    "output": "[Cause] This brief respite from PAMA cuts and the strong demand for COVID-19 [Relation] cause [Effect] our estimate for average annual top-line growth of 3% through 2024",
    "gold": "[Cause] This brief respite from PAMA cuts and the strong demand for COVID-19 [Relation] cause [Effect] our estimate for average annual top-line growth of 3% through 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Colorado's high population growth drives strong need for new roads, the state sports one of the weakest gas taxes in our analysis and faces a challenging fiscal situation.",
    "output": "[Cause] the state sports one of the weakest gas taxes in our analysis [Relation] cause [Effect] faces a challenging fiscal situation",
    "gold": "[Cause] the state sports one of the weakest gas taxes in our analysis [Relation] cause [Effect]  faces a challenging fiscal situation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the proprietary technology developed to manage demand volatility is an additional barrier for competitors trying to replicate the Verbund concept.",
    "output": "[Cause] the proprietary technology developed to manage demand volatility [Relation] prevent [Effect] competitors trying to replicate the Verbund concept",
    "gold": "[Cause] the proprietary technology developed to manage demand volatility [Relation] prevent [Effect] competitors trying to replicate the Verbund concept",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Comcast's cable business has steadily gained broadband market share over its primary competitors, phone companies like AT&T and Verizon, as high-quality Internet access has become a staple utility in more households.",
    "output": "[Cause] high-quality Internet access has become a staple utility in more households [Relation] cause [Effect] Comcast's cable business has steadily gained broadband market share over its primary competitors, phone companies like AT&T and Verizon",
    "gold": "[Cause] high-quality Internet access has become a staple utility in more households [Relation] cause [Effect] Comcast's cable business has steadily gained broadband market share over its primary competitors, phone companies like AT&T and Verizon",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Consistent with management's target, we now expect 120 ribbon-cuttings (net) in fiscal 2020, with roughly 190 in fiscal 2021 as Five Below resumes what we anticipate will be a roughly 10-year march to management's 2,500 unit national footprint target.",
    "output": "[Cause] Five Below resumes what we anticipate will be a roughly 10-year march to management's 2,500 unit national footprint target [Relation] cause [Effect] 120 ribbon-cuttings (net) in fiscal 2020, with roughly 190 in fiscal 2021",
    "gold": "[Cause] Five Below resumes what we anticipate will be a roughly 10-year march to management's 2,500 unit national footprint target [Relation] cause [Effect] 120 ribbon-cuttings (net) in fiscal 2020, with roughly 190 in fiscal 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a ''low-cost'' provider of consumer credit cards, the firm has an implicit ceiling to the rewards it is able to offer consumers, while a lack of international acceptance naturally shifts the target market to the middle- and lower-income segments.",
    "output": "[Cause] a lack of international acceptance [Relation] cause [Effect] shifts the target market to the middle- and lower-income segments",
    "gold": "[Cause]  a ''low-cost'' provider of consumer credit cards [Relation] cause [Effect] the firm has an implicit ceiling to the rewards it is able to offer consumers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As a ''low-cost'' provider of consumer credit cards, the firm has an implicit ceiling to the rewards it is able to offer consumers, while a lack of international acceptance naturally shifts the target market to the middle- and lower-income segments.",
    "output": "[Cause] a lack of international acceptance [Relation] cause [Effect] shifts the target market to the middle- and lower-income segments",
    "gold": "[Cause] a lack of international acceptance [Relation] cause [Effect] shifts the target market to the middle- and lower-income segments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Depressed realized prices due to lack of market access have forced capital spending cuts, stalling the growth potential of the company's oil sands assets.",
    "output": "[Cause] lack of market access [Relation] cause [Effect] Depressed realized prices",
    "gold": "[Cause] lack of market access [Relation] cause [Effect] Depressed realized prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Depressed realized prices due to lack of market access have forced capital spending cuts, stalling the growth potential of the company's oil sands assets.",
    "output": "[Cause] capital spending cuts [Relation] prevent [Effect] growth potential of the company's oil sands assets",
    "gold": "[Cause] Depressed realized prices [Relation] cause [Effect] capital spending cuts, stalling the growth potential of the company's oil sands assets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Depressed realized prices due to lack of market access have forced capital spending cuts, stalling the growth potential of the company's oil sands assets.",
    "output": "[Cause] capital spending cuts [Relation] prevent [Effect] growth potential of the company's oil sands assets",
    "gold": "[Cause] capital spending cuts [Relation] prevent [Effect] growth potential of the company's oil sands assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the value of Tencent's network increases for both new and existing users as more users adopt Weixin and mobile QQ.",
    "output": "[Cause] more users adopt Weixin and mobile QQ [Relation] cause [Effect] the value of Tencent's network increases for both new and existing users",
    "gold": "[Cause] more users adopt Weixin and mobile QQ [Relation] enable [Effect] the value of Tencent's network increases for both new and existing users",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect strong pricing to attract additional capacity, and as housing activity wanes to midcycle levels, we expect margins to contract to roughly 16%.",
    "output": "[Cause] housing activity wanes to midcycle levels [Relation] cause [Effect] margins to contract to roughly 16%",
    "gold": "[Cause] housing activity wanes to midcycle levels [Relation] cause [Effect] margins to contract to roughly 16%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, increased scale has made T-Mobile far more efficient, turning it from a cash burner to substantial cash generator over the past five years, removing questions about its viability.",
    "output": "[Cause] increased scale [Relation] enable [Effect] T-Mobile far more efficient",
    "gold": "[Cause] T-Mobile far more efficient, turning it from a cash burner to substantial cash generator over the past five years [Relation] cause [Effect] removing questions about its viability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Airlines have historically sold commodity goods and operated in a highly competitive market, so participants in this market have traditionally been unable to control prices or costs.",
    "output": "[Cause] Airlines have historically sold commodity goods and operated in a highly competitive market [Relation] cause [Effect] participants in this market have traditionally been unable to control prices or costs",
    "gold": "[Cause] Airlines have historically sold commodity goods and operated in a highly competitive market [Relation] cause [Effect] participants in this market have traditionally been unable to control prices or costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The most singificant concern stems from the potential for product related quality and safety issues, which could lead to recalls.",
    "output": "[Cause] the potential for product related quality and safety issues [Relation] cause [Effect] The most singificant concern",
    "gold": "[Cause]  the potential for product related quality and safety issues [Relation] cause [Effect] The most singificant concern",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, high perceived friction from changing core systems is not just a theory, it is reality, as Guidewire has not lost a customer to a competitor since it was founded in 2003.",
    "output": "[Cause] Guidewire has not lost a customer to a competitor since it was founded in 2003 [Relation] cause [Effect] high perceived friction from changing core systems is not just a theory, it is reality",
    "gold": "[Cause]  Guidewire has not lost a customer to a competitor since it was founded in 2003 [Relation] cause [Effect] high perceived friction from changing core systems is not just a theory, it is reality",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "TI continues to use Arrow and others for fulfillment, but the lack of demand creation revenue leads to lower margins for distributors like Arrow.",
    "output": "[Cause] the lack of demand creation revenue [Relation] cause [Effect] lower margins for distributors like Arrow",
    "gold": "[Cause] the lack of demand creation revenue [Relation] cause [Effect] lower margins for distributors like Arrow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "One benefit of the platform is that it allows the use of a single business number that can support all communication types (text, voice, video, fax) and mobile capability with Apple and Android devices. This lets customers use their personal mobile device for business needs no matter where they are while maintaining the privacy of their personal cellphone number.",
    "output": "[Cause] One benefit of the platform is that it allows the use of a single business number that can support all communication types (text, voice, video, fax) and mobile capability with Apple and Android devices [Relation] enable [Effect] customers use their personal mobile device for business needs no matter where they are while maintaining the privacy of their personal cellphone number",
    "gold": "[Cause] One benefit of the platform is that it allows the use of a single business number that can support all communication types (text, voice, video, fax) and mobile capability with Apple and Android devices [Relation] cause [Effect]  customers use their personal mobile device for business needs no matter where they are while maintaining the privacy of their personal cellphone number",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are pleased that self-help measures such as optimizing Kingfisher's store footprint and reversing stock inefficiencies will free up cash that will be returned to shareholders via a dividend payout ratio of approximately 40%.",
    "output": "[Cause] self-help measures such as optimizing Kingfisher's store footprint and reversing stock inefficiencies [Relation] enable [Effect] free up cash that will be returned to shareholders via a dividend payout ratio of approximately 40%",
    "gold": "[Cause] self-help measures such as optimizing Kingfisher's store footprint and reversing stock inefficiencies [Relation] cause [Effect] free up cash that will be returned to shareholders via a dividend payout ratio of approximately 40%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Part of this change is also the result of our assumption that Millicom walks away from the Telefonica acquisition in Costa Rica, though this move also saves the firm the $570 million purchase price.",
    "output": "[Cause] Millicom walks away from the Telefonica acquisition in Costa Rica [Relation] cause [Effect] saves the firm the $570 million purchase price",
    "gold": "[Cause]  our assumption that Millicom walks away from the Telefonica acquisition in Costa Rica [Relation] cause [Effect] Part of this change",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, as enterprises across a broad swath of industries are at different stages of a digital transformation, the success of their employees and customers is increasingly tied to the reliability and resiliency of their IT ecosystems.",
    "output": "[Cause] enterprises across a broad swath of industries are at different stages of a digital transformation [Relation] cause [Effect] the success of their employees and customers is increasingly tied to the reliability and resiliency of their IT ecosystems",
    "gold": "[Cause] enterprises across a broad swath of industries are at different stages of a digital transformation [Relation] cause [Effect] the success of their employees and customers is increasingly tied to the reliability and resiliency of their IT ecosystems",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If its brand is permanently impaired because of these issues, Chipotle could face market saturation sooner than anticipated, which could be exacerbated by demographic shifts, an increasing number of meals prepared at home, and lingering consumer-spending headwinds.",
    "output": "[Cause] its brand is permanently impaired because of these issues [Relation] cause [Effect] Chipotle could face market saturation sooner than anticipated",
    "gold": "[Cause] its brand is permanently impaired because of these issues [Relation] cause [Effect] Chipotle could face market saturation sooner than anticipated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The dealer knows the vehicle, and comparison-shopping for repair work is very time-consuming since the customer has to bring the vehicle to each shop to get a quote.",
    "output": "[Cause] the customer has to bring the vehicle to each shop to get a quote [Relation] cause [Effect] comparison-shopping for repair work is very time-consuming",
    "gold": "[Cause] the customer has to bring the vehicle to each shop to get a quote [Relation] cause [Effect] comparison-shopping for repair work is very time-consuming",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, we increased our near-term projections for coronavirus treatments bamlanivimab and etesevimab, but these projections only supported a slight valuation increase as we don't expect long-term demand for these drugs due to COVID-19 vaccine launches that will likely significantly reduce COVID-19 treatment demand.",
    "output": "[Cause] we don't expect long-term demand for these drugs due to COVID-19 vaccine launches that will likely significantly reduce COVID-19 treatment demand [Relation] cause [Effect] we increased our near-term projections for coronavirus treatments bamlanivimab and etesevimab, but these projections only supported a slight valuation increase",
    "gold": "[Cause] we don't expect long-term demand for these drugs due to COVID-19 vaccine launches that will likely significantly reduce COVID-19 treatment demand [Relation] enable [Effect]  we increased our near-term projections for coronavirus treatments bamlanivimab and etesevimab, but these projections only supported a slight valuation increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "American Water Works derives most of its profits from regulated operations. Consequently, the greatest risk it faces is regulation that does not allow the company to earn its allowed return and does not protect it from regulatory lag, which is the time between the incurring and the recovery of costs.",
    "output": "[Cause] American Water Works derives most of its profits from regulated operations [Relation] cause [Effect] the greatest risk it faces is regulation that does not allow the company to earn its allowed return and does not protect it from regulatory lag, which is the time between the incurring and the recovery of costs",
    "gold": "[Cause] American Water Works derives most of its profits from regulated operations [Relation] cause [Effect] the greatest risk it faces is regulation that does not allow the company to earn its allowed return and does not protect it from regulatory lag, which is the time between the incurring and the recovery of costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although there are certainly costs associated with ensuring that cold storage facilities are temperature-controlled, it is not inconceivable for traditional warehouse facilities to be converted to cold storage facilities if market conditions would support such a conversion.",
    "output": "[Cause] market conditions would support such a conversion [Relation] cause [Effect] it is not inconceivable for traditional warehouse facilities to be converted to cold storage facilities",
    "gold": "[Cause] market conditions would support such a conversion [Relation] cause [Effect] it is not inconceivable for traditional warehouse facilities to be converted to cold storage facilities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Vornado to be a net seller of real estate once investment volumes recover the company is able to dispose of its properties.",
    "output": "[Cause] investment volumes recover the company is able to dispose of its properties [Relation] enable [Effect] Vornado to be a net seller of real estate",
    "gold": "[Cause] investment volumes recover the company is able to dispose of its properties [Relation] cause [Effect] Vornado to be a net seller of real estate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although no auto dealer is immune to macroeconomic risks, Asbury Automotive Group's size, focused acquisition strategy, and diverse revenue streams should allow the firm to grow at the expense of smaller dealers.",
    "output": "[Cause] Asbury Automotive Group's size, focused acquisition strategy, and diverse revenue streams [Relation] enable [Effect] the firm to grow at the expense of smaller dealers",
    "gold": "[Cause] Asbury Automotive Group's size, focused acquisition strategy, and diverse revenue streams [Relation] enable [Effect] the firm to grow at the expense of smaller dealers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, the company invested more than $300 million in its Mesabi Nugget joint venture with Kobe Steel that was designed to provide iron units to its EAFs at favorable costs.",
    "output": "[Cause] the company invested more than $300 million in its Mesabi Nugget joint venture with Kobe Steel [Relation] enable [Effect] provide iron units to its EAFs at favorable costs",
    "gold": "[Cause] designed to provide iron units to its EAFs at favorable costs [Relation] cause [Effect] the company invested more than $300 million in its Mesabi Nugget joint venture with Kobe Steel",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think Intuit's business operates under high uncertainty, given the risk of intensified regulation on online tax-filing software, yet we do not foresee any material ESG (environmental, social, or governance) issues on the horizon.",
    "output": "[Cause] the risk of intensified regulation on online tax-filing software [Relation] cause [Effect] Intuit's business operates under high uncertainty",
    "gold": "[Cause] the risk of intensified regulation on online tax-filing software [Relation] cause [Effect]  Intuit's business operates under high uncertainty",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "PVH, like all international apparel manufacturers and retailers, faces a huge challenge with the COVID-19 crisis as stores all over the world had to close temporarily.",
    "output": "[Cause] stores all over the world had to close temporarily [Relation] cause [Effect] PVH, like all international apparel manufacturers and retailers, faces a huge challenge with the COVID-19 crisis",
    "gold": "[Cause]  stores all over the world had to close temporarily [Relation] cause [Effect] PVH, like all international apparel manufacturers and retailers, faces a huge challenge with the COVID-19 crisis",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we believe competition in the QSR and pizza categories will become more pronounced in the future due to expansion plans from existing players and delivery expansion from QSR chains.",
    "output": "[Cause] expansion plans from existing players and delivery expansion from QSR chains [Relation] cause [Effect] competition in the QSR and pizza categories will become more pronounced in the future",
    "gold": "[Cause] expansion plans from existing players and delivery expansion from QSR chains [Relation] cause [Effect] competition in the QSR and pizza categories will become more pronounced in the future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Switching costs for passsenger vehicles are low as customers have several brands from which to choose when considering a vehicle purchase, even among luxury brand competitors like BMW, Audi, and Lexus.",
    "output": "[Cause] customers have several brands from which to choose when considering a vehicle purchase [Relation] cause [Effect] Switching costs for passsenger vehicles are low",
    "gold": "[Cause] customers have several brands from which to choose when considering a vehicle purchase [Relation] cause [Effect] Switching costs for passsenger vehicles are low",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have raised our long-term tax rate assumption to 31.5% from 28% in anticipation of a corporate tax increase in the United States.",
    "output": "[Cause] a corporate tax increase in the United States [Relation] cause [Effect] We have raised our long-term tax rate assumption to 31.5% from 28%",
    "gold": "[Cause] a corporate tax increase in the United States [Relation] cause [Effect] We have raised our long-term tax rate assumption to 31.5% from 28%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As much of its proprietary data is internally created or the result of acquisitions, it would be exceedingly hard and expensive for another competitor to recreate and assemble a comparable data offering.",
    "output": "[Cause] much of its proprietary data is internally created or the result of acquisitions [Relation] cause [Effect] it would be exceedingly hard and expensive for another competitor to recreate and assemble a comparable data offering",
    "gold": "[Cause] much of its proprietary data is internally created or the result of acquisitions [Relation] cause [Effect]  it would be exceedingly hard and expensive for another competitor to recreate and assemble a comparable data offering",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, the firm has a high degree of operating leverage, so sudden declines in volume can have a meaningful impact on profit.",
    "output": "[Cause] the firm has a high degree of operating leverage [Relation] cause [Effect] sudden declines in volume can have a meaningful impact on profit",
    "gold": "[Cause]  the firm has a high degree of operating leverage [Relation] cause [Effect] sudden declines in volume can have a meaningful impact on profit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After a nearly 12% year-over-year sales decline in 2020 due to COVID-19 headwinds, we expect Lincoln Electric's sales to rebound and we forecast roughly 7% average annual organic revenue growth through 2025.",
    "output": "[Cause] COVID-19 headwinds [Relation] cause [Effect] After a nearly 12% year-over-year sales decline in 2020",
    "gold": "[Cause] After a nearly 12% year-over-year sales decline in 2020 due to COVID-19 headwinds [Relation] cause [Effect] we expect Lincoln Electric's sales to rebound and we forecast roughly 7% average annual organic revenue growth through 2025",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We view the growth of direct-to-consumer sales by its vendors as a serious competitive threat that Dick's cannot counter.",
    "output": "[Cause] the growth of direct-to-consumer sales by its vendors [Relation] cause [Effect] a serious competitive threat that Dick's cannot counter",
    "gold": "[Cause] the growth of direct-to-consumer sales by its vendors [Relation] cause [Effect] a serious competitive threat that Dick's cannot counter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That is, as more customers adopt any of the company's solutions, the AppExchange provides an ever-expanding audience, which makes the AppExchange incrementally more attractive to developers, thus perpetuating a virtuous cycle.",
    "output": "[Cause] more customers adopt any of the company's solutions [Relation] cause [Effect] the AppExchange provides an ever-expanding audience",
    "gold": "[Cause] more customers adopt any of the company's solutions [Relation] enable [Effect]  the AppExchange provides an ever-expanding audience",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That is, as more customers adopt any of the company's solutions, the AppExchange provides an ever-expanding audience, which makes the AppExchange incrementally more attractive to developers, thus perpetuating a virtuous cycle.",
    "output": "[Cause] the AppExchange provides an ever-expanding audience [Relation] enable [Effect] the AppExchange incrementally more attractive to developers",
    "gold": "[Cause]  the AppExchange provides an ever-expanding audience [Relation] enable [Effect]  the AppExchange incrementally more attractive to developers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That is, as more customers adopt any of the company's solutions, the AppExchange provides an ever-expanding audience, which makes the AppExchange incrementally more attractive to developers, thus perpetuating a virtuous cycle.",
    "output": "[Cause] the AppExchange provides an ever-expanding audience [Relation] cause [Effect] the AppExchange incrementally more attractive to developers",
    "gold": "[Cause]  the AppExchange incrementally more attractive to developers [Relation] enable [Effect]  perpetuating a virtuous cycle",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Most importantly, scale will be lost from ships that remain in layup, as we anticipate Norwegian will execute a staggered return to the sailing of its fleet in the back half of 2021.",
    "output": "[Cause] Norwegian will execute a staggered return to the sailing of its fleet in the back half of 2021 [Relation] cause [Effect] scale will be lost from ships that remain in layup",
    "gold": "[Cause] Norwegian will execute a staggered return to the sailing of its fleet in the back half of 2021 [Relation] cause [Effect]  scale will be lost from ships that remain in layup",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Many of the firm's latest chips are made on leading process technologies at TSMC, which has also helped AMD bridge the gap with Intel as the latter has suffered from some process technology delays.",
    "output": "[Cause] the latter has suffered from some process technology delays [Relation] cause [Effect] Many of the firm's latest chips are made on leading process technologies at TSMC, which has also helped AMD bridge the gap with Intel",
    "gold": "[Cause] Many of the firm's latest chips are made on leading process technologies at TSMC [Relation] enable [Effect] AMD bridge the gap with Intel",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Banks, airline operators and network providers operate in mission critical areas, and therefore, have leaned on IBM for years, allowing for IBM to benefit from specialty knowledge on its clients personally and the industry they operate in.",
    "output": "[Cause] Banks, airline operators and network providers operate in mission critical areas [Relation] enable [Effect] IBM to benefit from specialty knowledge on its clients personally and the industry they operate in",
    "gold": "[Cause] Banks, airline operators and network providers operate in mission critical areas [Relation] enable [Effect]  IBM to benefit from specialty knowledge on its clients personally and the industry they operate in",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The risk of IT asset failure is simply too high, especially in the exponentially more complex hybrid cloud environments of today.",
    "output": "[Cause] The risk of IT asset failure is simply too high [Relation] cause [Effect] especially in the exponentially more complex hybrid cloud environments of today",
    "gold": "[Cause] the exponentially more complex hybrid cloud environments [Relation] cause [Effect] The risk of IT asset failure is simply too high",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our base case, we assume revenue grows quickly in the near term, due to a buoyant market and recent acquisitions, and slows gradually in later years.",
    "output": "[Cause] a buoyant market and recent acquisitions, and slows gradually in later years [Relation] cause [Effect] revenue grows quickly in the near term",
    "gold": "[Cause]  due to a buoyant market and recent acquisitions, [Relation] cause [Effect] slows gradually in later years.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Firms that have shown an ability to gather and retain investor assets during different market cycles have tended to produce more stable levels of profitability, with returns exceeding their cost of capital for longer periods of time.",
    "output": "[Cause] Firms that have shown an ability to gather and retain investor assets during different market cycles [Relation] enable [Effect] produce more stable levels of profitability, with returns exceeding their cost of capital for longer periods of time",
    "gold": "[Cause]  produce more stable levels of profitability [Relation] enable [Effect] with returns exceeding their cost of capital for longer periods of time",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As other new vehicles are launched, such as the Cybertruck or the platform that will produce the affordable sedan and SUV (known as the $25,000 vehicle), we expect the company's strong brand will continue to generate consumer demand.",
    "output": "[Cause] other new vehicles are launched, such as the Cybertruck or the platform that will produce the affordable sedan and SUV (known as the $25,000 vehicle) [Relation] cause [Effect] the company's strong brand will continue to generate consumer demand",
    "gold": "[Cause]  other new vehicles are launched, such as the Cybertruck or the platform that will produce the affordable sedan and SUV (known as the $25,000 vehicle) [Relation] cause [Effect]  the company's strong brand will continue to generate consumer demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite its debt burden, Carrier now has a narrowed strategic focus and no longer must fight for capital from an increasingly aerospace-focused parent company.",
    "output": "[Cause] Carrier now has a narrowed strategic focus [Relation] cause [Effect] no longer must fight for capital from an increasingly aerospace-focused parent company",
    "gold": "[Cause] Carrier now has a narrowed strategic focus [Relation] cause [Effect] no longer must fight for capital from an increasingly aerospace-focused parent company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The Oklahoma portion of the portfolio could have similar potential, but this is more speculative--the firm's drilling results to date have been middling, and the natural gas weighting and high cost of development have been weighing on its potential returns there.",
    "output": "[Cause] the natural gas weighting and high cost of development [Relation] prevent [Effect] its potential returns there",
    "gold": "[Cause] the firm's drilling results to date have been middling, and the natural gas weighting and high cost of development have been weighing on its potential returns there [Relation] cause [Effect] The Oklahoma portion of the portfolio could have similar potential, but this is more speculative",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In a similar vein, Oxxo probably has a denser trove of customer data owing to its robust store network and traffic.",
    "output": "[Cause] its robust store network and traffic [Relation] cause [Effect] Oxxo probably has a denser trove of customer data",
    "gold": "[Cause]  its robust store network and traffic [Relation] enable [Effect] Oxxo probably has a denser trove of customer data",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By 2030, we expect operating margin to reach roughly 13%, due to the full-ramp up of production and fixed cost leverage against overhead expenses.",
    "output": "[Cause] the full-ramp up of production and fixed cost leverage against overhead expenses [Relation] cause [Effect] operating margin to reach roughly 13%",
    "gold": "[Cause] the full-ramp up of production and fixed cost leverage against overhead expenses [Relation] cause [Effect] operating margin to reach roughly 13%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With access to such data and to billions of photos and videos uploaded by its users, Facebook continues to enhance the social network by offering even more relevant content to its users.",
    "output": "[Cause] access to such data and to billions of photos and videos uploaded by its users [Relation] enable [Effect] Facebook continues to enhance the social network by offering even more relevant content to its users",
    "gold": "[Cause] access to such data and to billions of photos and videos uploaded by its users [Relation] enable [Effect]  Facebook continues to enhance the social network by offering even more relevant content to its users",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Importantly, it is bringing these innovations to market in a more timely fashion, with some of its recent endeavors taking just 12 weeks to move from concept to shelf. These efforts have bolstered average selling prices online, which now stand at 1.2-3.5 times the level Hershey derives across its portfolio in brick-and-mortar outlets.",
    "output": "[Cause] it is bringing these innovations to market in a more timely fashion, with some of its recent endeavors taking just 12 weeks to move from concept to shelf [Relation] enable [Effect] bolstered average selling prices online, which now stand at 1.2-3.5 times the level Hershey derives across its portfolio in brick-and-mortar outlets",
    "gold": "[Cause]  it is bringing these innovations to market in a more timely fashion, with some of its recent endeavors taking just 12 weeks to move from concept to shelf [Relation] enable [Effect] bolstered average selling prices online, which now stand at 1.2-3.5 times the level Hershey derives across its portfolio in brick-and-mortar outlets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Symdeko, approved in 2018, didn't significantly expand the addressable population as it targets the same patient population as Orkambi, but it helped capture some additional patients due to its better efficacy.",
    "output": "[Cause] its better efficacy [Relation] cause [Effect] capture some additional patients",
    "gold": "[Cause] its better efficacy [Relation] cause [Effect] capture some additional patients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We argue that the firm's sheer size and vast financial resources allow it to leverage fixed costs over a large base of products and defend its share position by aggressively spending on R&amp;D and marketing when needed to fend off competition.",
    "output": "[Cause] the firm's sheer size and vast financial resources [Relation] enable [Effect] leverage fixed costs over a large base of products and defend its share position by aggressively spending on R&amp;D and marketing when needed to fend off competition",
    "gold": "[Cause] the firm's sheer size and vast financial resources [Relation] enable [Effect] leverage fixed costs over a large base of products and defend its share position by aggressively spending on R&amp;D and marketing when needed to fend off competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company doesn't have significant property and casualty tail-risk exposure (such as workers' compensation or business interruption insurance that could become a litigious battleground due to COVID-19).",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] The company doesn't have significant property and casualty tail-risk exposure",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] workers' compensation or business interruption insurance that could become a litigious battleground",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We still expect 2021 to be a strong recovery year, including high-single-digit comp growth and consolidated restaurant margins returning to 16%, a level that is similar to 2019. This would put Yum China on track to meet our five-year targets calling for 11% currency-neutral compounded annual revenue and restaurant margins of 18% by 2025.",
    "output": "[Cause] 2021 to be a strong recovery year, including high-single-digit comp growth and consolidated restaurant margins returning to 16%, a level that is similar to 2019 [Relation] enable [Effect] put Yum China on track to meet our five-year targets calling for 11% currency-neutral compounded annual revenue and restaurant margins of 18% by 2025",
    "gold": "[Cause] 2021 to be a strong recovery year, including high-single-digit comp growth and consolidated restaurant margins returning to 16%, a level that is similar to 2019 [Relation] cause [Effect]  put Yum China on track to meet our five-year targets calling for 11% currency-neutral compounded annual revenue and restaurant margins of 18% by 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The COVID-19 pandemic forced the firm to limit visitations and temporarily close many stores and the crisis has created turmoil in the apparel retail market.",
    "output": "[Cause] The COVID-19 pandemic [Relation] cause [Effect] the firm to limit visitations and temporarily close many stores",
    "gold": "[Cause] The COVID-19 pandemic [Relation] enable [Effect] the firm to limit visitations and temporarily close many stores",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The COVID-19 pandemic forced the firm to limit visitations and temporarily close many stores and the crisis has created turmoil in the apparel retail market.",
    "output": "[Cause] The COVID-19 pandemic [Relation] cause [Effect] the firm to limit visitations and temporarily close many stores",
    "gold": "[Cause] the crisis [Relation] enable [Effect] turmoil in the apparel retail market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Since the initial rents are low and internal growth is generally limited by competition, we believe that the economic returns generated by the company won't exceed the company's WACC.",
    "output": "[Cause] the initial rents are low and internal growth is generally limited by competition [Relation] cause [Effect] the economic returns generated by the company won't exceed the company's WACC",
    "gold": "[Cause]  the initial rents are low and internal growth is generally limited by competition [Relation] cause [Effect] the economic returns generated by the company won't exceed the company's WACC",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thus, while pricing is an important consideration, customers are relatively less likely to aggressively pursue cost savings by switching to a cheaper alternative as the cost of unscheduled downtime or product failures could far exceed potential cost savings.",
    "output": "[Cause] the cost of unscheduled downtime or product failures could far exceed potential cost savings [Relation] cause [Effect] while pricing is an important consideration, customers are relatively less likely to aggressively pursue cost savings by switching to a cheaper alternative",
    "gold": "[Cause]  the cost of unscheduled downtime or product failures could far exceed potential cost savings [Relation] cause [Effect] while pricing is an important consideration, customers are relatively less likely to aggressively pursue cost savings by switching to a cheaper alternative",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In other industries, superior execution and operating know-how can last for many years but then suddenly dissipate due to competitors' successful imitation.",
    "output": "[Cause] competitors' successful imitation [Relation] cause [Effect] In other industries, superior execution and operating know-how can last for many years but then suddenly dissipate",
    "gold": "[Cause]  competitors' successful imitation [Relation] cause [Effect] In other industries, superior execution and operating know-how can last for many years but then suddenly dissipate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As for the food service business within refrigeration and food equipment, we expect greater adoption of certain type of equipment in restaurant and hospitality settings in developing countries, helped by a shift in dietary habits toward fresher foods.",
    "output": "[Cause] a shift in dietary habits toward fresher foods [Relation] cause [Effect] greater adoption of certain type of equipment in restaurant and hospitality settings in developing countries",
    "gold": "[Cause] a shift in dietary habits toward fresher foods [Relation] cause [Effect]  greater adoption of certain type of equipment in restaurant and hospitality settings in developing countries",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Brand positioning leads to elevated expenditures (consumer acquisition costs) to target a young demographic, yielding risk that consumers could still trade down in the economic compression aggravated by COVID-19.",
    "output": "[Cause] Brand positioning leads to elevated expenditures (consumer acquisition costs) to target a young demographic [Relation] cause [Effect] consumers could still trade down in the economic compression aggravated by COVID-19",
    "gold": "[Cause] Brand positioning leads to elevated expenditures (consumer acquisition costs) to target a young demographic [Relation] cause [Effect] consumers could still trade down in the economic compression aggravated by COVID-19",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, for small employers, Humana is typically able to price its plans significantly lower than the average employer-based premium in the U.S., which we believe is related to Humana's local scale advantages.",
    "output": "[Cause] Humana's local scale advantages [Relation] cause [Effect] Humana is typically able to price its plans significantly lower than the average employer-based premium in the U.S",
    "gold": "[Cause]  Humana's local scale advantages [Relation] cause [Effect] Humana is typically able to price its plans significantly lower than the average employer-based premium in the U.S",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Any uncertainty in the debt markets could increase Lithia's future borrowing costs, limiting its ability to buy more dealerships or forcing a dilutive share offering.",
    "output": "[Cause] Any uncertainty in the debt markets [Relation] cause [Effect] increase Lithia's future borrowing costs",
    "gold": "[Cause] Any uncertainty in the debt markets [Relation] enable [Effect] increase Lithia's future borrowing costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Any uncertainty in the debt markets could increase Lithia's future borrowing costs, limiting its ability to buy more dealerships or forcing a dilutive share offering.",
    "output": "[Cause] Any uncertainty in the debt markets [Relation] cause [Effect] increase Lithia's future borrowing costs",
    "gold": "[Cause] Any uncertainty in the debt markets [Relation] cause [Effect] limiting its ability to buy more dealerships or forcing a dilutive share offering",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Abnormally high demand for personal protective equipment, or PPE, drove high growth in Cintas' first aid and safety segment for the past four quarters.",
    "output": "[Cause] Abnormally high demand for personal protective equipment, or PPE [Relation] cause [Effect] high growth in Cintas' first aid and safety segment for the past four quarters",
    "gold": "[Cause] Abnormally high demand for personal protective equipment, or PPE [Relation] cause [Effect]  high growth in Cintas' first aid and safety segment for the past four quarters",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Colfax's increased R&amp;D spending has started to bear fruit, and the company has gained market share in recent years thanks to new product introductions.",
    "output": "[Cause] new product introductions [Relation] enable [Effect] the company has gained market share in recent years",
    "gold": "[Cause] new product introductions [Relation] enable [Effect] the company has gained market share in recent years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management decided to idle the operation in May 2015, however, as the associated cash costs were not competitive with global pig iron export prices.",
    "output": "[Cause] the associated cash costs were not competitive with global pig iron export prices [Relation] cause [Effect] Management decided to idle the operation in May 2015",
    "gold": "[Cause]  the associated cash costs were not competitive with global pig iron export prices [Relation] enable [Effect] Management decided to idle the operation in May 2015",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, we like Abbott's substantial footprint in Latin America and Russia for its established pharmaceutical products that should lead to faster growth of its branded generics.",
    "output": "[Cause] Abbott's substantial footprint in Latin America and Russia for its established pharmaceutical products [Relation] cause [Effect] faster growth of its branded generics",
    "gold": "[Cause]  Abbott's substantial footprint in Latin America and Russia for its established pharmaceutical products [Relation] cause [Effect] faster growth of its branded generics",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We posit that the company's majority ownership of VMware and other cloud-centric software brands provides growth catalysts as firms augment hardware with software-based solutions.",
    "output": "[Cause] firms augment hardware with software-based solutions [Relation] cause [Effect] the company's majority ownership of VMware and other cloud-centric software brands provides growth catalysts",
    "gold": "[Cause] firms augment hardware with software-based solutions [Relation] cause [Effect] the company's majority ownership of VMware and other cloud-centric software brands provides growth catalysts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There are considerable differences in cash costs within the portfolio: The high-grade Antamina mine in Peru is viable under nearly any reasonable copper price, while mines in Canada and Chile might struggle in the years to come, as we expect copper prices to sag on weaker Chinese demand growth.",
    "output": "[Cause] copper prices to sag on weaker Chinese demand growth [Relation] cause [Effect] mines in Canada and Chile might struggle in the years to come",
    "gold": "[Cause] copper prices to sag on weaker Chinese demand growth [Relation] cause [Effect] mines in Canada and Chile might struggle in the years to come",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These segments should show improving performance over the next several years, given the business portfolio is more attractive after several unattractive businesses were recently divested.",
    "output": "[Cause] the business portfolio is more attractive [Relation] cause [Effect] These segments should show improving performance over the next several years",
    "gold": "[Cause]  several unattractive businesses were recently divested [Relation] enable [Effect] the business portfolio is more attractive",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These segments should show improving performance over the next several years, given the business portfolio is more attractive after several unattractive businesses were recently divested.",
    "output": "[Cause] the business portfolio is more attractive [Relation] cause [Effect] These segments should show improving performance over the next several years",
    "gold": "[Cause] the business portfolio is more attractive [Relation] cause [Effect] These segments should show improving performance over the next several years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we expect that eventually, mean reversion at the industry level, management's willingness to underwrite at lower margins, and a rebound in interest rates will lead to the combined ratio creeping up.",
    "output": "[Cause] reversion at the industry level, management's willingness to underwrite at lower margins, and a rebound in interest rates [Relation] cause [Effect] the combined ratio creeping up",
    "gold": "[Cause] reversion at the industry level, management's willingness to underwrite at lower margins, and a rebound in interest rates [Relation] cause [Effect] the combined ratio creeping up",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Original equipment manufacturers, or OEMs, are willing to pay a premium to vendors for technology that differentiates automakers' vehicles, reduces vehicle weight, improves fuel efficiency, reduces emissions, improves safety, or lowers costs.",
    "output": "[Cause] technology that differentiates automakers' vehicles, reduces vehicle weight, improves fuel efficiency, reduces emissions, improves safety, or lowers costs [Relation] cause [Effect] Original equipment manufacturers, or OEMs, are willing to pay a premium to vendors",
    "gold": "[Cause] technology [Relation] enable [Effect] differentiates automakers' vehicles, reduces vehicle weight, improves fuel efficiency, reduces emissions, improves safety, or lowers costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As we forecast activewear will produce 60% of VF's fiscal 2022 operating profit, any slowdown in athleisure would affect VF's overall profitability.",
    "output": "[Cause] we forecast activewear will produce 60% of VF's fiscal 2022 operating profit [Relation] cause [Effect] any slowdown in athleisure would affect VF's overall profitability",
    "gold": "[Cause] we forecast activewear will produce 60% of VF's fiscal 2022 operating profit [Relation] enable [Effect] any slowdown in athleisure would affect VF's overall profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Investments for strategic initiatives should continue to temper restaurant profits but increased operating leverage as consumer behavior normalizes should supersede this headwind, with our model calling for 23% restaurant margins in 2021 versus 17.4% in 2020.",
    "output": "[Cause] Investments for strategic initiatives [Relation] prevent [Effect] temper restaurant profits",
    "gold": "[Cause] increased operating leverage [Relation] enable [Effect] supersede this headwind",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Investments for strategic initiatives should continue to temper restaurant profits but increased operating leverage as consumer behavior normalizes should supersede this headwind, with our model calling for 23% restaurant margins in 2021 versus 17.4% in 2020.",
    "output": "[Cause] Investments for strategic initiatives [Relation] prevent [Effect] temper restaurant profits",
    "gold": "[Cause] Investments for strategic initiatives [Relation] enable [Effect] temper restaurant profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The long-running deflationary environment in the country has led to persistently low demand for loans, with the loan/deposit ratio having declined from 74% in 2000 to around 57% at present.",
    "output": "[Cause] The long-running deflationary environment in the country [Relation] cause [Effect] persistently low demand for loans",
    "gold": "[Cause] The long-running deflationary environment in the country [Relation] cause [Effect] persistently low demand for loans",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The long-running deflationary environment in the country has led to persistently low demand for loans, with the loan/deposit ratio having declined from 74% in 2000 to around 57% at present.",
    "output": "[Cause] persistently low demand for loans [Relation] cause [Effect] the loan/deposit ratio having declined from 74% in 2000 to around 57% at present",
    "gold": "[Cause] persistently low demand for loans [Relation] cause [Effect] the loan/deposit ratio having declined from 74% in 2000 to around 57% at present",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In regard to the company's balance sheet, we don't have material solvency concerns for Lazard, as its next major principal payment on its debt is for $400 million in 2025.",
    "output": "[Cause] its next major principal payment on its debt is for $400 million in 2025 [Relation] cause [Effect] we don't have material solvency concerns for Lazard",
    "gold": "[Cause]  its next major principal payment on its debt is for $400 million in 2025 [Relation] cause [Effect] we don't have material solvency concerns for Lazard",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We find it impressive West can post strong growth numbers while at the same time operating more efficiently, partly due to automation initiatives and partly from overall cost consolidation.",
    "output": "[Cause] automation initiatives and partly from overall cost consolidation [Relation] cause [Effect] West can post strong growth numbers while at the same time operating more efficiently",
    "gold": "[Cause] automation initiatives and partly from overall cost consolidation [Relation] enable [Effect] West can post strong growth numbers while at the same time operating more efficiently",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, migrating all of its customers is not such a sure thing, as cloud-first software vendors have been able to take meaningful share from legacy Oracle customers.",
    "output": "[Cause] cloud-first software vendors have been able to take meaningful share from legacy Oracle customers [Relation] cause [Effect] migrating all of its customers is not such a sure thing",
    "gold": "[Cause] cloud-first software vendors have been able to take meaningful share from legacy Oracle customers [Relation] cause [Effect] migrating all of its customers is not such a sure thing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, a rise in users, in addition to user engagement, strengthens Twitter's network effect, which helps on the monetization front.",
    "output": "[Cause] a rise in users [Relation] enable [Effect] strengthens Twitter's network effect",
    "gold": "[Cause] a rise in users [Relation] cause [Effect] strengthens Twitter's network effect",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2020, the coronavirus could end up materially affecting demand for Marriott, as we expect its revPAR to be down 59% this year.",
    "output": "[Cause] we expect its revPAR to be down 59% this year [Relation] cause [Effect] the coronavirus could end up materially affecting demand for Marriott",
    "gold": "[Cause]  we expect its revPAR to be down 59% this year [Relation] cause [Effect]  the coronavirus could end up materially affecting demand for Marriott",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Erratic changes in input costs can weigh on profits; if Kellogg opts to raise prices to offset these pressures, volume may contract if consumers balk, especially during economic periods where consumers ratchet back their spending.",
    "output": "[Cause] Erratic changes in input costs [Relation] cause [Effect] weigh on profits",
    "gold": "[Cause] consumers balk [Relation] cause [Effect] volume may contract",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Erratic changes in input costs can weigh on profits; if Kellogg opts to raise prices to offset these pressures, volume may contract if consumers balk, especially during economic periods where consumers ratchet back their spending.",
    "output": "[Cause] consumers balk [Relation] cause [Effect] volume may contract",
    "gold": "[Cause] Erratic changes in input costs [Relation] cause [Effect] weigh on profits",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "AT&amp;T's online (over-the-top, or OTT) television offerings have struggled to balance growth and profitability, as competition with new entrants like YouTube and Hulu remains fierce.",
    "output": "[Cause] competition with new entrants like YouTube and Hulu remains fierce [Relation] cause [Effect] AT&amp;T's online (over-the-top, or OTT) television offerings have struggled to balance growth and profitability",
    "gold": "[Cause] competition with new entrants like YouTube and Hulu remains fierce [Relation] cause [Effect] AT&amp;T's online (over-the-top, or OTT) television offerings have struggled to balance growth and profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Snap-on's tools consistently exhibit better durability and reliability compared with alternatives, which we think makes technicians more willing to pay 2 to 3 times more for Snap-on's tools.",
    "output": "[Cause] Snap-on's tools consistently exhibit better durability and reliability compared with alternatives [Relation] enable [Effect] makes technicians more willing to pay 2 to 3 times more for Snap-on's tools",
    "gold": "[Cause] Snap-on's tools consistently exhibit better durability and reliability compared with alternatives [Relation] enable [Effect] makes technicians more willing to pay 2 to 3 times more for Snap-on's tools",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With 2021 set to be plagued by inconsistent pricing strategies as Norwegian and the other cruise operators try to entice cruisers to sail again and future cruise credits are redeemed, we don't see Norwegian reaching near 2019 pricing again until 2023.",
    "output": "[Cause] Norwegian and the other cruise operators try to entice cruisers to sail again and future cruise credits are redeemed [Relation] cause [Effect] 2021 set to be plagued by inconsistent pricing strategies",
    "gold": "[Cause] With 2021 set to be plagued by inconsistent pricing strategies as Norwegian and the other cruise operators try to entice cruisers to sail again and future cruise credits are redeemed [Relation] cause [Effect] we don't see Norwegian reaching near 2019 pricing again until 2023",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With 2021 set to be plagued by inconsistent pricing strategies as Norwegian and the other cruise operators try to entice cruisers to sail again and future cruise credits are redeemed, we don't see Norwegian reaching near 2019 pricing again until 2023.",
    "output": "[Cause] Norwegian and the other cruise operators try to entice cruisers to sail again and future cruise credits are redeemed [Relation] cause [Effect] 2021 set to be plagued by inconsistent pricing strategies",
    "gold": "[Cause] Norwegian and the other cruise operators try to entice cruisers to sail again and future cruise credits are redeemed [Relation] cause [Effect]  2021 set to be plagued by inconsistent pricing strategies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With UroLift having above-firm margin, Teleflex's ability to scale UroLift and achieve a greater market share is a key component of our valuation.",
    "output": "[Cause] UroLift having above-firm margin [Relation] cause [Effect] Teleflex's ability to scale UroLift and achieve a greater market share is a key component of our valuation",
    "gold": "[Cause]  UroLift having above-firm margin [Relation] cause [Effect] Teleflex's ability to scale UroLift and achieve a greater market share is a key component of our valuation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cyclical downturns in freight demand compress profitability because excess capacity drives providers to slash rates in an attempt to salvage asset utilization.",
    "output": "[Cause] excess capacity drives providers to slash rates in an attempt to salvage asset utilization [Relation] cause [Effect] Cyclical downturns in freight demand compress profitability",
    "gold": "[Cause] excess capacity drives providers to slash rates in an attempt to salvage asset utilization [Relation] cause [Effect] Cyclical downturns in freight demand compress profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The Backstage stores may allow Macy's to be more competitive with discounters, but they are mainly in Macy's stores and thus dependent on customer traffic.",
    "output": "[Cause] they are mainly in Macy's stores [Relation] cause [Effect] dependent on customer traffic",
    "gold": "[Cause] The Backstage stores [Relation] enable [Effect]  Macy's to be more competitive with discounters",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Exact's acquired technologies from the Thrive and Base acquisitions have not yet been commercialized, and assuming there are no snags during development, it remains unclear whether Exact will be able to convince payers to cover the test given that single-cancer screening may offer better test sensitivities.",
    "output": "[Cause] single-cancer screening may offer better test sensitivities [Relation] cause [Effect] it remains unclear whether Exact will be able to convince payers to cover the test",
    "gold": "[Cause]  single-cancer screening may offer better test sensitivities [Relation] cause [Effect]  it remains unclear whether Exact will be able to convince payers to cover the test",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think this is reasonable because aircraft orders are obligations to the customer and because well-functioning capital markets allow airlines and lessors to finance these large purchases.",
    "output": "[Cause] aircraft orders are obligations to the customer [Relation] cause [Effect] this is reasonable",
    "gold": "[Cause]  well-functioning capital markets [Relation] enable [Effect]  airlines and lessors to finance these large purchases",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think this is reasonable because aircraft orders are obligations to the customer and because well-functioning capital markets allow airlines and lessors to finance these large purchases.",
    "output": "[Cause] well-functioning capital markets [Relation] enable [Effect] airlines and lessors to finance these large purchases",
    "gold": "[Cause]  aircraft orders are obligations to the customer [Relation] cause [Effect] We think this is reasonable",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Concerning the former use case, one example of this smart servicing is that MFPs will automatically send a servicing ticket to the local Xerox supplier when toner is low, and the supplier will restock the enterprise toner accordingly.",
    "output": "[Cause] toner is low [Relation] cause [Effect] MFPs will automatically send a servicing ticket to the local Xerox supplier",
    "gold": "[Cause]  toner is low [Relation] enable [Effect] MFPs will automatically send a servicing ticket to the local Xerox supplier",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our base-case scenario assumes that the bank's efficiency ratio eventually declines to 55% as the bank should be able to manage its expense base, even as the interest-rate environment changes over the medium term.",
    "output": "[Cause] the bank should be able to manage its expense base, even as the interest-rate environment changes over the medium term [Relation] cause [Effect] the bank's efficiency ratio eventually declines to 55%",
    "gold": "[Cause] the bank should be able to manage its expense base, even as the interest-rate environment changes over the medium term [Relation] cause [Effect] the bank's efficiency ratio eventually declines to 55%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further out, we expect ongoing price deflation that the company will be able to manage, given the strong volume growth.",
    "output": "[Cause] the strong volume growth [Relation] cause [Effect] ongoing price deflation that the company will be able to manage",
    "gold": "[Cause] the strong volume growth [Relation] cause [Effect] ongoing price deflation that the company will be able to manage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Aptiv's products are highly engineered, requiring the company to attract and retain highly skilled human capital with expertise in software and various engineering disciplines.",
    "output": "[Cause] Aptiv's products are highly engineered [Relation] cause [Effect] requiring the company to attract and retain highly skilled human capital with expertise in software and various engineering disciplines",
    "gold": "[Cause] Aptiv's products are highly engineered [Relation] enable [Effect] requiring the company to attract and retain highly skilled human capital with expertise in software and various engineering disciplines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With pricing power eroding, we think Enbrel sales will continue to decline and branded Aranesp competition (Mircera) as well as Epogen biosimilar launches (2019) will weigh on anemia drug sales.",
    "output": "[Cause] pricing power eroding [Relation] cause [Effect] Enbrel sales will continue to decline and branded Aranesp competition (Mircera) as well as Epogen biosimilar launches (2019) will weigh on anemia drug sales",
    "gold": "[Cause] we think Enbrel sales will continue to decline and branded Aranesp competition (Mircera) as well as Epogen biosimilar launches (2019) [Relation] cause [Effect] will weigh on anemia drug sales.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The infrastructure allows the firm to maintain a denser network of stores than its regional rivals, effectively enabling O'Reilly to maximize its inventory turnover (subject to the constraints of a low-turn industry) by holding slow-moving products at distribution centers and hub stores serving many traditional stores in their vicinity.",
    "output": "[Cause] The infrastructure [Relation] enable [Effect] the firm to maintain a denser network of stores than its regional rivals",
    "gold": "[Cause] The infrastructure allows the firm to maintain a denser network of stores than its regional rivals | by holding slow-moving products at distribution centers and hub stores serving many traditional stores in their vicinity [Relation] enable [Effect] effectively enabling O'Reilly to maximize its inventory turnover",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The infrastructure allows the firm to maintain a denser network of stores than its regional rivals, effectively enabling O'Reilly to maximize its inventory turnover (subject to the constraints of a low-turn industry) by holding slow-moving products at distribution centers and hub stores serving many traditional stores in their vicinity.",
    "output": "[Cause] The infrastructure allows the firm to maintain a denser network of stores than its regional rivals [Relation] enable [Effect] effectively enabling O'Reilly to maximize its inventory turnover",
    "gold": "[Cause] The infrastructure [Relation] enable [Effect]  the firm to maintain a denser network of stores than its regional rivals",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Weibo is a media platform where all content is public, and users can follow any celebrities or personalized interest groups. Hence, even though Weixin's user base has been increasing rapidly in the past several years, Weibo users are also growing at a fast pace, with monthly active users increasing at a 20%-plus year-over-year growth rate.",
    "output": "[Cause] Weibo is a media platform where all content is public, and users can follow any celebrities or personalized interest groups [Relation] cause [Effect] even though Weixin's user base has been increasing rapidly in the past several years, Weibo users are also growing at a fast pace, with monthly active users increasing at a 20%-plus year-over-year growth rate",
    "gold": "[Cause] Weibo is a media platform where all content is public, and users can follow any celebrities or personalized interest groups [Relation] cause [Effect]  even though Weixin's user base has been increasing rapidly in the past several years, Weibo users are also growing at a fast pace, with monthly active users increasing at a 20%-plus year-over-year growth rate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For ad revenue, we expect double-digit even-year spikes in total ad revenue that will be partially offset by slightly lower double-digit odd-year declines in ad revenue.",
    "output": "[Cause] slightly lower double-digit odd-year declines in ad revenue [Relation] prevent [Effect] double-digit even-year spikes in total ad revenue",
    "gold": "[Cause] slightly lower double-digit odd-year declines in ad revenue [Relation] prevent [Effect]  double-digit even-year spikes in total ad revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The ability to handle large volumes of applications and the capital required to fund such loans see the majors continue to take a large share of flows.",
    "output": "[Cause] The ability to handle large volumes of applications and the capital required to fund such loans [Relation] cause [Effect] the majors continue to take a large share of flows",
    "gold": "[Cause] The ability to handle large volumes of applications and the capital required to fund such loans [Relation] cause [Effect] the majors continue to take a large share of flows",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect PSR initiatives to drive OR improvement to 56.7% in 2021, with further gains to 56.1% in 2022.",
    "output": "[Cause] PSR initiatives [Relation] enable [Effect] OR improvement to 56.7% in 2021, with further gains to 56.1% in 2022",
    "gold": "[Cause] PSR initiatives [Relation] cause [Effect] drive OR improvement to 56.7% in 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "International tastes may change to no longer appreciate French-based content, forcing the company to source more programming locally, thus hurting margins.",
    "output": "[Cause] International tastes may change to no longer appreciate French-based content [Relation] cause [Effect] forcing the company to source more programming locally, thus hurting margins",
    "gold": "[Cause] International tastes may change to no longer appreciate French-based content [Relation] cause [Effect]  forcing the company to source more programming locally, thus hurting margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect gross margins to remain in the high-30s, thanks to Apple's exceptional premium pricing strategy and stable iPhone margins.",
    "output": "[Cause] Apple's exceptional premium pricing strategy and stable iPhone margins [Relation] cause [Effect] gross margins to remain in the high-30s",
    "gold": "[Cause] Apple's exceptional premium pricing strategy and stable iPhone margins [Relation] cause [Effect] gross margins to remain in the high-30s",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Western Union's primary macroeconomic exposure is to employment markets in the developed world, as the search for better economic opportunities is the fundamental driver for money transfers.",
    "output": "[Cause] the search for better economic opportunities is the fundamental driver for money transfers [Relation] cause [Effect] Western Union's primary macroeconomic exposure is to employment markets in the developed world",
    "gold": "[Cause] the search for better economic opportunities is the fundamental driver for money transfers [Relation] cause [Effect] Western Union's primary macroeconomic exposure is to employment markets in the developed world",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the probability of indirect TPMS being broadly adopted within our explicit forecast period is low due to the necessary lead time required to design, test, and implement such changes across broad automotive product lines.",
    "output": "[Cause] the necessary lead time required to design, test, and implement such changes across broad automotive product lines [Relation] cause [Effect] the probability of indirect TPMS being broadly adopted within our explicit forecast period is low",
    "gold": "[Cause] the necessary lead time required to design, test, and implement such changes across broad automotive product lines [Relation] cause [Effect] the probability of indirect TPMS being broadly adopted within our explicit forecast period is low",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Many developers also focus on redeveloping Class B and C properties to Class A properties to sidestep limits on new construction.",
    "output": "[Cause] Many developers also focus on redeveloping Class B and C properties to Class A properties [Relation] enable [Effect] sidestep limits on new construction",
    "gold": "[Cause] Many developers also focus on redeveloping Class B and C properties to Class A properties [Relation] enable [Effect]  sidestep limits on new construction",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "IAC has invested in areas within this segment that have resulted in basically a feedback loop: attracting more service professionals who have helped bring in more consumers who in turn have attracted more service professionals, and so on, thereby strengthening Angi's network effect.",
    "output": "[Cause] IAC has invested in areas within this segment [Relation] cause [Effect] a feedback loop",
    "gold": "[Cause] IAC has invested in areas within this segment [Relation] cause [Effect]  a feedback loop",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "IAC has invested in areas within this segment that have resulted in basically a feedback loop: attracting more service professionals who have helped bring in more consumers who in turn have attracted more service professionals, and so on, thereby strengthening Angi's network effect.",
    "output": "[Cause] attracting more service professionals [Relation] enable [Effect] bring in more consumers",
    "gold": "[Cause] attracting more service professionals [Relation] enable [Effect] bring in more consumers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "IAC has invested in areas within this segment that have resulted in basically a feedback loop: attracting more service professionals who have helped bring in more consumers who in turn have attracted more service professionals, and so on, thereby strengthening Angi's network effect.",
    "output": "[Cause] attracting more service professionals [Relation] enable [Effect] bring in more consumers",
    "gold": "[Cause]  more consumers [Relation] enable [Effect]  attracted more service professionals",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "IAC has invested in areas within this segment that have resulted in basically a feedback loop: attracting more service professionals who have helped bring in more consumers who in turn have attracted more service professionals, and so on, thereby strengthening Angi's network effect.",
    "output": "[Cause] attracting more service professionals [Relation] enable [Effect] bring in more consumers",
    "gold": "[Cause] attracting more service professionals who have helped bring in more consumers who in turn have attracted more service professionals, and so on [Relation] cause [Effect] strengthening Angi's network effect",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Still, we forecast a 14% drop in 2020 sales due to the COVID-19 crisis and permanent closures of roughly 250 Gap and Banana Republic stores.",
    "output": "[Cause] the COVID-19 crisis and permanent closures of roughly 250 Gap and Banana Republic stores [Relation] cause [Effect] a 14% drop in 2020 sales",
    "gold": "[Cause] the COVID-19 crisis and permanent closures of roughly 250 Gap and Banana Republic stores [Relation] cause [Effect]  a 14% drop in 2020 sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since taking the helm in 2015, CEO Steve Demetriou has transformed Jacobs' portfolio to increase recurring revenue and reduce cyclicality.",
    "output": "[Cause] CEO Steve Demetriou has transformed Jacobs' portfolio [Relation] enable [Effect] increase recurring revenue and reduce cyclicality",
    "gold": "[Cause] CEO Steve Demetriou has transformed Jacobs' portfolio [Relation] cause [Effect] increase recurring revenue and reduce cyclicality",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As acquisitions are a material source of growth for this company, competition with rival regulated utilities is a threat to American Water Works' growth prospects.",
    "output": "[Cause] acquisitions are a material source of growth for this company [Relation] cause [Effect] competition with rival regulated utilities is a threat to American Water Works' growth prospects",
    "gold": "[Cause]  competition with rival regulated utilities [Relation] prevent [Effect] American Water Works' growth prospects",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In fact, we suspect that barring government intervention, the rational number of competitors on the continent would be two, via additional consolidation. This is because in most regions, customers already have only two capable providers that service the market effectively and efficiently.",
    "output": "[Cause] in most regions, customers already have only two capable providers that service the market effectively and efficiently [Relation] cause [Effect] barring government intervention, the rational number of competitors on the continent would be two, via additional consolidation",
    "gold": "[Cause] in most regions, customers already have only two capable providers that service the market effectively and efficiently [Relation] cause [Effect]  barring government intervention, the rational number of competitors on the continent would be two, via additional consolidation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This has enabled it to advance more quickly up the learning curve in each play. As a result, initial production rates from new wells are usually well above industry averages (though subsequent declines are usually steeper as well--EOG isn't necessarily producing more oil from each well, but it is recovering the available volumes more quickly, boosting profitability).",
    "output": "[Cause] This has enabled it to advance more quickly up the learning curve in each play [Relation] cause [Effect] initial production rates from new wells are usually well above industry averages (though subsequent declines are usually steeper as well--EOG isn't necessarily producing more oil from each well, but it is recovering the available volumes more quickly, boosting profitability)",
    "gold": "[Cause] This has enabled it to advance more quickly up the learning curve in each play [Relation] cause [Effect] initial production rates from new wells are usually well above industry averages (though subsequent declines are usually steeper as well--EOG isn't necessarily producing more oil from each well, but it is recovering the available volumes more quickly, boosting profitability)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite this, we surmise Colgate has evidenced diligence in offsetting these costs through higher prices and by extracting inefficiencies in the past, which should ensure margins aren't persistently chipped away.",
    "output": "[Cause] extracting inefficiencies in the past [Relation] enable [Effect] offsetting these costs",
    "gold": "[Cause] offsetting these costs [Relation] enable [Effect] margins aren't persistently chipped away",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, during periods of rapid fuel price increases, LTL carriers often see modest temporary margin headwinds because of the time lag associated with adjusting fuel surcharges to shippers.",
    "output": "[Cause] the time lag associated with adjusting fuel surcharges to shippers [Relation] cause [Effect] LTL carriers often see modest temporary margin headwinds",
    "gold": "[Cause]  the time lag associated with adjusting fuel surcharges to shippers [Relation] cause [Effect] LTL carriers often see modest temporary margin headwinds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Importantly, a portion of any savings realized are earmarked to bolster its brand spend. As such, our forecast calls for it to allocate 6% of sales annually (about $1.4 billion) toward research, development, and marketing in the aggregate annually over the next 10 years.",
    "output": "[Cause] a portion of any savings realized are earmarked to bolster its brand spend [Relation] cause [Effect] our forecast calls for it to allocate 6% of sales annually (about $1.4 billion) toward research, development, and marketing in the aggregate annually over the next 10 years",
    "gold": "[Cause] a portion of any savings realized are earmarked to bolster its brand spend [Relation] cause [Effect] our forecast calls for it to allocate 6% of sales annually (about $1.4 billion) toward research, development, and marketing in the aggregate annually over the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "China's auto demand is not likely to grow as much as it did last decade, and pricing pressure should remain because so many automakers want to grow in the world's largest auto market.",
    "output": "[Cause] so many automakers want to grow in the world's largest auto market [Relation] cause [Effect] China's auto demand is not likely to grow as much as it did last decade, and pricing pressure should remain",
    "gold": "[Cause] so many automakers want to grow in the world's largest auto market [Relation] cause [Effect] China's auto demand is not likely to grow as much as it did last decade, and pricing pressure should remain",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While this pressures Biogen's profit share, subcutaneous Rituxan as well as novel antibody Gazyva will allow for extended oncology revenue.",
    "output": "[Cause] subcutaneous Rituxan as well as novel antibody Gazyva [Relation] enable [Effect] extended oncology revenue",
    "gold": "[Cause] subcutaneous Rituxan as well as novel antibody Gazyva [Relation] enable [Effect] extended oncology revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Perhaps the greatest risk is the scarcity of experienced analog and mixed-signal engineering talent within the industry, but NXP's inorganic expansion has enabled it to acquire talent and reduced this risk.",
    "output": "[Cause] NXP's inorganic expansion [Relation] enable [Effect] acquire talent and reduced this risk",
    "gold": "[Cause] NXP's inorganic expansion [Relation] prevent [Effect] the scarcity of experienced analog and mixed-signal engineering talent within the industry",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, earnings continued to be pressured due to higher bad debt expense related to the March 2020 voluntary suspension of disconnects and became mandatory for residential units in July by New York law.",
    "output": "[Cause] higher bad debt expense related to the March 2020 voluntary suspension of disconnects and became mandatory for residential units in July by New York law [Relation] cause [Effect] earnings continued to be pressured",
    "gold": "[Cause] higher bad debt expense related to the March 2020 voluntary suspension of disconnects and became mandatory for residential units in July by New York law [Relation] cause [Effect] earnings continued to be pressured",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite this, we've been encouraged management isn't sitting still but is working to tailor operations to drive profitable growth in each of the local markets in which it plays.",
    "output": "[Cause] working to tailor operations [Relation] enable [Effect] profitable growth in each of the local markets in which it plays",
    "gold": "[Cause]  working to tailor operations [Relation] enable [Effect] profitable growth in each of the local markets in which it plays",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, if a fleet owner decides to buy a different engine or component in each of its trucks, it would potentially increase maintenance and repair costs.",
    "output": "[Cause] a fleet owner decides to buy a different engine or component in each of its trucks [Relation] cause [Effect] increase maintenance and repair costs",
    "gold": "[Cause] a fleet owner decides to buy a different engine or component in each of its trucks [Relation] cause [Effect] increase maintenance and repair costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, this growth in content has not attracted more new users to the platform, discounting the value of Twitter's overall network, in our view.",
    "output": "[Cause] this growth in content has not attracted more new users to the platform [Relation] prevent [Effect] discounting the value of Twitter's overall network",
    "gold": "[Cause] this growth in content has not attracted more new users to the platform [Relation] cause [Effect] discounting the value of Twitter's overall network",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While revenue will likely see material declines in the very near term due to the coronavirus, secular trends and improving share should allow Mastercard to maintain recent growth rates over the next five years, and we project net revenue to grow at a 12% CAGR.",
    "output": "[Cause] the coronavirus [Relation] cause [Effect] revenue will likely see material declines in the very near term",
    "gold": "[Cause] the coronavirus [Relation] cause [Effect] revenue will likely see material declines in the very near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, getting passengers on board safely has garnered increased attention among airport authorities in recent years; while it will take considerable time, we expect this trend will resume once global air travel recovers.",
    "output": "[Cause] global air travel recovers [Relation] enable [Effect] this trend will resume",
    "gold": "[Cause] global air travel recovers [Relation] enable [Effect] getting passengers on board safely has garnered increased attention among airport authorities in recent years | this trend will resume",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "High-quality anchors, in line tenants, and entertainment options has historically drawn significant foot traffic to the mall, which makes placing a store in the mall attractive to other retailers, as their store would benefit from the large number of people already heading to the mall.",
    "output": "[Cause] their store would benefit from the large number of people already heading to the mall [Relation] cause [Effect] placing a store in the mall attractive to other retailers",
    "gold": "[Cause] their store would benefit from the large number of people already heading to the mall [Relation] cause [Effect]  placing a store in the mall attractive to other retailers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We now model stronger revenue growth and profit margins over the next five years due to our more optimistic commercial HVAC outlook.",
    "output": "[Cause] our more optimistic commercial HVAC outlook [Relation] cause [Effect] model stronger revenue growth and profit margins over the next five years",
    "gold": "[Cause] our more optimistic commercial HVAC outlook [Relation] cause [Effect]  model stronger revenue growth and profit margins over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Gap outperformed our profitability forecast in the fourth quarter of 2020 due as its gross margin of 37.7% beat our estimate of 36.4% on rent and occupancy cost savings.",
    "output": "[Cause] its gross margin of 37.7% beat our estimate of 36.4% on rent and occupancy cost savings [Relation] cause [Effect] Gap outperformed our profitability forecast in the fourth quarter of 2020",
    "gold": "[Cause] its gross margin of 37.7% beat our estimate of 36.4% on rent and occupancy cost savings [Relation] cause [Effect] Gap outperformed our profitability forecast in the fourth quarter of 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given unusually tight marketplace capacity, Landstar will also benefit from an excellent pricing backdrop with rates likely to be up in the mid-teens.",
    "output": "[Cause] unusually tight marketplace capacity [Relation] cause [Effect] Landstar will also benefit from an excellent pricing backdrop with rates likely to be up in the mid-teens",
    "gold": "[Cause] unusually tight marketplace capacity [Relation] cause [Effect] Landstar will also benefit from an excellent pricing backdrop with rates likely to be up in the mid-teens",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The clinical trials business now can tap into LabCorp's enormous patient database in order to better match eligible patients with appropriate trials and reduce enrollment time.",
    "output": "[Cause] The clinical trials business now can tap into LabCorp's enormous patient database [Relation] enable [Effect] better match eligible patients with appropriate trials and reduce enrollment time",
    "gold": "[Cause] The clinical trials business now can tap into LabCorp's enormous patient database [Relation] enable [Effect] better match eligible patients with appropriate trials and reduce enrollment time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect ad revenue to be slightly down over the next five years as the projected 15% decline in 2020 will be largely recouped in 2021.",
    "output": "[Cause] the projected 15% decline in 2020 will be largely recouped in 2021 [Relation] cause [Effect] ad revenue to be slightly down over the next five years",
    "gold": "[Cause] the projected 15% decline in 2020 will be largely recouped in 2021 [Relation] cause [Effect] ad revenue to be slightly down over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ultimately, we think any shifts to the relationship between ICANN and VeriSign will be gradual and a sudden breakup is unlikely, given the important role VeriSign plays in the Internet infrastructure.",
    "output": "[Cause] the important role VeriSign plays in the Internet infrastructure [Relation] cause [Effect] any shifts to the relationship between ICANN and VeriSign will be gradual and a sudden breakup is unlikely",
    "gold": "[Cause] the important role VeriSign plays in the Internet infrastructure [Relation] cause [Effect] any shifts to the relationship between ICANN and VeriSign will be gradual and a sudden breakup is unlikely",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the attempt to merge T-Mobile and Sprint, nearly a decade in the making, reflected both firms' belief that their only other option is to risk significant damage to the wireless industry, through potentially semipermanent discounting, to gain the needed share to earn acceptable returns on capital.",
    "output": "[Cause] risk significant damage to the wireless industry, through potentially semipermanent discounting [Relation] enable [Effect] gain the needed share to earn acceptable returns on capital",
    "gold": "[Cause] risk significant damage to the wireless industry, through potentially semipermanent discounting [Relation] enable [Effect]  gain the needed share to earn acceptable returns on capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Japan is an earthquake-prone nation and as seen after the 2011 tsunami, Toyota can suffer supply chain disruption from disasters.",
    "output": "[Cause] Japan is an earthquake-prone nation [Relation] cause [Effect] Toyota can suffer supply chain disruption from disasters",
    "gold": "[Cause] disasters [Relation] cause [Effect] Toyota can suffer supply chain disruption",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, the merger with Sprint will dramatically improve the firm's position in the U.S., reducing the size gap between T-Mobile and the other two players.",
    "output": "[Cause] the merger with Sprint [Relation] enable [Effect] improve the firm's position in the U.S., reducing the size gap between T-Mobile and the other two players",
    "gold": "[Cause] the merger with Sprint [Relation] enable [Effect] improve the firm's position in the U.S., reducing the size gap between T-Mobile and the other two players",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Colorado's high population growth drives strong need for new roads, the state has one of the weakest gas taxes in our analysis and faces a challenging fiscal situation.",
    "output": "[Cause] Colorado's high population growth [Relation] cause [Effect] strong need for new roads",
    "gold": "[Cause] Colorado's high population growth [Relation] cause [Effect] strong need for new roads",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Colorado's high population growth drives strong need for new roads, the state has one of the weakest gas taxes in our analysis and faces a challenging fiscal situation.",
    "output": "[Cause] the state has one of the weakest gas taxes in our analysis [Relation] cause [Effect] faces a challenging fiscal situation",
    "gold": "[Cause] the state has one of the weakest gas taxes in our analysis [Relation] enable [Effect] faces a challenging fiscal situation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Efficiency gains from investment and continued modernization of older plants should continue to aid profitability through the next few years.",
    "output": "[Cause] Efficiency gains from investment and continued modernization of older plants [Relation] enable [Effect] aid profitability through the next few years",
    "gold": "[Cause] Efficiency gains from investment and continued modernization of older plants [Relation] cause [Effect] aid profitability through the next few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The most important driver for Plains will be its Permian asset base, where the outlook is improving in the second half of 2020, thanks to expected higher levels of completions activity, and it holds substantial storage and gathering assets.",
    "output": "[Cause] expected higher levels of completions activity, and it holds substantial storage and gathering assets [Relation] cause [Effect] the outlook is improving in the second half of 2020",
    "gold": "[Cause] expected higher levels of completions activity, and it holds substantial storage and gathering assets [Relation] cause [Effect] the outlook is improving in the second half of 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm has also sought to diversify its business via organic and inorganic efforts, including the pursuit of burgeoning opportunities in the Internet of Things, AI, and automotive.",
    "output": "[Cause] The firm has also sought to diversify its business via organic and inorganic efforts [Relation] enable [Effect] including the pursuit of burgeoning opportunities in the Internet of Things, AI, and automotive",
    "gold": "[Cause]  organic and inorganic efforts [Relation] enable [Effect] The firm has also sought to diversify its business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We model operating profit growth going forward, driven by the ongoing cost-cutting program through digitalization, fiber expansion, with upselling opportunities through new fixed/convergence offerings, and brand consolidation. As a result, we expect dividend growth to be supported by free cash flow growth and low leverage in the medium term despite fiber and 5G investments.",
    "output": "[Cause] We model operating profit growth going forward, driven by the ongoing cost-cutting program through digitalization, fiber expansion, with upselling opportunities through new fixed/convergence offerings, and brand consolidation [Relation] cause [Effect] dividend growth to be supported by free cash flow growth and low leverage in the medium term despite fiber and 5G investments",
    "gold": "[Cause] We model operating profit growth going forward, driven by the ongoing cost-cutting program through digitalization, fiber expansion, with upselling opportunities through new fixed/convergence offerings, and brand consolidation [Relation] cause [Effect]  dividend growth to be supported by free cash flow growth and low leverage in the medium term despite fiber and 5G investments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A strong reputation makes it more likely that an investment bank will be selected as a bookrunner, capturing more of the profits from an underwriting deal, and gives the firm an early opportunity to hire top revenue-generating talent.",
    "output": "[Cause] A strong reputation [Relation] enable [Effect] it more likely that an investment bank will be selected as a bookrunner, capturing more of the profits from an underwriting deal, and gives the firm an early opportunity to hire top revenue-generating talent",
    "gold": "[Cause] A strong reputation [Relation] enable [Effect] it more likely that an investment bank will be selected as a bookrunner, capturing more of the profits from an underwriting deal, and gives the firm an early opportunity to hire top revenue-generating talent",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As airlines have balance sheets that are as large as they can currently manage, we think that capital markets would be less amenable to airlines going forward, which would increase the chance of firm failure in the event of an additional unforeseen black swan event or a protracted lockdown.",
    "output": "[Cause] airlines have balance sheets that are as large as they can currently manage [Relation] cause [Effect] capital markets would be less amenable to airlines going forward, which would increase the chance of firm failure in the event of an additional unforeseen black swan event or a protracted lockdown",
    "gold": "[Cause] airlines have balance sheets that are as large as they can currently manage [Relation] cause [Effect] capital markets would be less amenable to airlines going forward, which would increase the chance of firm failure in the event of an additional unforeseen black swan event or a protracted lockdown",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Along those lines, low visibility surrounding the magnitude of industrial end market recovery brings uncertainty to our volume assumptions for 2021 and 2022.",
    "output": "[Cause] low visibility surrounding the magnitude of industrial end market recovery [Relation] cause [Effect] uncertainty to our volume assumptions for 2021 and 2022",
    "gold": "[Cause] low visibility surrounding the magnitude of industrial end market recovery [Relation] cause [Effect] uncertainty to our volume assumptions for 2021 and 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, with more than 40% of its sales resulting from its top five customers (just more than 20% from Walmart alone), Campbell is exposed to retailer consolidation.",
    "output": "[Cause] more than 40% of its sales resulting from its top five customers (just more than 20% from Walmart alone) [Relation] cause [Effect] Campbell is exposed to retailer consolidation",
    "gold": "[Cause] with more than 40% of its sales resulting from its top five customers [Relation] cause [Effect] Campbell is exposed to retailer consolidation.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect continued acquisition and disposition activity as Equity Residential recycles capital, repositions its portfolio, and improves the overall quality of its assets.",
    "output": "[Cause] Equity Residential recycles capital, repositions its portfolio, and improves the overall quality of its assets [Relation] cause [Effect] continued acquisition and disposition activity",
    "gold": "[Cause] We expect continued acquisition and disposition activity as Equity Residential recycles capital [Relation] enable [Effect] repositions its portfolio, and improves the overall quality of its assets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Historically, payers have been slower to adopt telehealth relative to self-funded employers, but recent payer pilots have started to realize advertised cost saving, which will likely improve traction and the ability to further sell into existing customers (75 million lives).",
    "output": "[Cause] payer pilots have started to realize advertised cost saving [Relation] enable [Effect] improve traction and the ability to further sell into existing customers",
    "gold": "[Cause] payer pilots have started to realize advertised cost saving [Relation] cause [Effect]  improve traction and the ability to further sell into existing customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also anticipate additional cost improvements following the full integration of the Hospira acquisition, which should help boost operating margins, as well.",
    "output": "[Cause] additional cost improvements [Relation] enable [Effect] boost operating margins",
    "gold": "[Cause] the full integration of the Hospira acquisition [Relation] enable [Effect] boost operating margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As with most integrated oil firms, a deteriorating outlook for oil and natural gas prices would pressure Imperial's profitability, reduce cash flows, and drive up financial leverage.",
    "output": "[Cause] a deteriorating outlook for oil and natural gas prices [Relation] cause [Effect] drive up financial leverage",
    "gold": "[Cause] a deteriorating outlook for oil and natural gas prices [Relation] cause [Effect] drive up financial leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Considering the price competition that permeates the industry, we believe there is an increasing premium on the cost leverage that scale affords, including in the emerging digital grocery realm.",
    "output": "[Cause] the price competition that permeates the industry [Relation] cause [Effect] there is an increasing premium on the cost leverage that scale affords, including in the emerging digital grocery realm",
    "gold": "[Cause]  the price competition that permeates the industry [Relation] cause [Effect]  there is an increasing premium on the cost leverage that scale affords, including in the emerging digital grocery realm",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the customer penetration rates remain low, with a single-digit level of the global population ever having cruised, we believe low switching costs could hinder the growth rate of cruisers, decreasing our confidence that Carnival is poised to generate ROICs above WACC over an extended period of time.",
    "output": "[Cause] low switching costs [Relation] prevent [Effect] the growth rate of cruisers",
    "gold": "[Cause] low switching costs [Relation] prevent [Effect] the growth rate of cruisers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Going forward, we think Seagate will focus on expanding to new capacities for its enterprise drives, while implementing new technologies like heat-assisted magnetic recording that will help it drive costs down and expand margins.",
    "output": "[Cause] Seagate will focus on expanding to new capacities for its enterprise drives, while implementing new technologies like heat-assisted magnetic recording [Relation] enable [Effect] help it drive costs down and expand margins",
    "gold": "[Cause] Seagate will focus on expanding to new capacities for its enterprise drives, while implementing new technologies like heat-assisted magnetic recording [Relation] cause [Effect] help it drive costs down and expand margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even as much of the downside risk is mitigated by sufficiently contracted capacity, failure of NGL demand to materialize would cap Oneok's earnings upside.",
    "output": "[Cause] sufficiently contracted capacity [Relation] prevent [Effect] much of the downside risk",
    "gold": "[Cause] failure of NGL demand to materialize [Relation] prevent [Effect] cap Oneok's earnings upside",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Even as much of the downside risk is mitigated by sufficiently contracted capacity, failure of NGL demand to materialize would cap Oneok's earnings upside.",
    "output": "[Cause] failure of NGL demand to materialize [Relation] prevent [Effect] cap Oneok's earnings upside",
    "gold": "[Cause] sufficiently contracted capacity [Relation] prevent [Effect] downside risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast the eclipse of subscription revenue over maintenance/services revenue to occur because of the underlying changes within the subscription business, as time-based lease subscriptions, which do not require separate maintenance and services contracts, increase.",
    "output": "[Cause] the underlying changes within the subscription business, as time-based lease subscriptions, which do not require separate maintenance and services contracts, increase [Relation] cause [Effect] the eclipse of subscription revenue over maintenance/services revenue to occur",
    "gold": "[Cause] the underlying changes within the subscription business, as time-based lease subscriptions, which do not require separate maintenance and services contracts, increase [Relation] cause [Effect] the eclipse of subscription revenue over maintenance/services revenue to occur",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the longer term, we believe Myriad's proprietary database in hereditary cancer will allow it to hold on to its current market share but that the firm will inevitably face more competition and reimbursement pressures.",
    "output": "[Cause] Myriad's proprietary database in hereditary cancer [Relation] enable [Effect] it to hold on to its current market share",
    "gold": "[Cause] the longer term [Relation] cause [Effect] the firm will inevitably face more competition and reimbursement pressures",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In fact, Sysco is reinforcing its cost advantage during the crisis by permanently removing $350 million in annual costs, which should hasten its return to prepandemic profit margins.",
    "output": "[Cause] permanently removing $350 million in annual costs [Relation] enable [Effect] Sysco is reinforcing its cost advantage during the crisis",
    "gold": "[Cause] Sysco is reinforcing its cost advantage during the crisis by permanently removing $350 million in annual costs [Relation] cause [Effect] hasten its return to prepandemic profit margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We anticipate a sales decline of 19% in 2020 and, while Ulta has reduced operating expenses, we think it cannot fully offset the lost sales.",
    "output": "[Cause] Ulta has reduced operating expenses [Relation] cause [Effect] a sales decline of 19% in 2020",
    "gold": "[Cause] Ulta has reduced operating expenses [Relation] enable [Effect] a sales decline of 19% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate a sales decline of 19% in 2020 and, while Ulta has reduced operating expenses, we think it cannot fully offset the lost sales.",
    "output": "[Cause] Ulta has reduced operating expenses [Relation] prevent [Effect] fully offset the lost sales",
    "gold": "[Cause] Ulta has reduced operating expenses [Relation] prevent [Effect] fully offset the lost sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Empire State Realty has strategically chosen to concentrate its efforts on central business district properties in New York City in a bid to benefit from the city's supply constrained nature and its preeminence as a global hub for talent.",
    "output": "[Cause] Empire State Realty has strategically chosen to concentrate its efforts on central business district properties in New York City [Relation] enable [Effect] benefit from the city's supply constrained nature and its preeminence as a global hub for talent",
    "gold": "[Cause] Empire State Realty has strategically chosen to concentrate its efforts on central business district properties in New York City [Relation] enable [Effect]  in a bid to benefit from the city's supply constrained nature and its preeminence as a global hub for",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the current ultra-accommodative monetary policy in the eurozone, combined with an inverted Brazilian yield curve, has depressed net interest margins and obscured Santander's competitive advantages, resulting in lacklustre returns.",
    "output": "[Cause] the current ultra-accommodative monetary policy in the eurozone, combined with an inverted Brazilian yield curve [Relation] cause [Effect] has depressed net interest margins and obscured Santander's competitive advantages",
    "gold": "[Cause]  the current ultra-accommodative monetary policy in the eurozone [Relation] prevent [Effect]  lacklustre returns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the current ultra-accommodative monetary policy in the eurozone, combined with an inverted Brazilian yield curve, has depressed net interest margins and obscured Santander's competitive advantages, resulting in lacklustre returns.",
    "output": "[Cause] depressed net interest margins and obscured Santander's competitive advantages [Relation] cause [Effect] lacklustre returns",
    "gold": "[Cause] inverted Brazilian yield curve [Relation] prevent [Effect]  lacklustre returns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the current ultra-accommodative monetary policy in the eurozone, combined with an inverted Brazilian yield curve, has depressed net interest margins and obscured Santander's competitive advantages, resulting in lacklustre returns.",
    "output": "[Cause] depressed net interest margins and obscured Santander's competitive advantages [Relation] cause [Effect] lacklustre returns",
    "gold": "[Cause] depressed net interest margins and obscured Santander's competitive advantages [Relation] prevent [Effect]  lacklustre returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Nutrien produces an increasing proportion of nitrogen using low-cost North American natural gas, profit margins should slightly expand over the next decade.",
    "output": "[Cause] Nutrien produces an increasing proportion of nitrogen using low-cost North American natural gas [Relation] cause [Effect] profit margins should slightly expand over the next decade",
    "gold": "[Cause] Nutrien produces an increasing proportion of nitrogen using low-cost North American natural gas [Relation] enable [Effect] profit margins should slightly expand over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If Dish plows ahead with a network buildout that subsequently fails to generate economic returns and it becomes a forced seller, the spectrum could have little value to shareholders.",
    "output": "[Cause] Dish plows ahead with a network buildout that subsequently fails to generate economic returns and it becomes a forced seller [Relation] cause [Effect] the spectrum could have little value to shareholders",
    "gold": "[Cause] Dish plows ahead with a network buildout that subsequently fails to generate economic returns and it becomes a forced seller [Relation] enable [Effect] the spectrum could have little value to shareholders",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect sustained demand for mass capacity drives over the next five years as enterprises look to capture more data and use a multi-tiered storage approach, implementing both mass capacity HDDs and smaller enterprise grade SSDs as complements in data centers.",
    "output": "[Cause] enterprises look to capture more data and use a multi-tiered storage approach, implementing both mass capacity HDDs and smaller enterprise grade SSDs as complements in data centers [Relation] cause [Effect] sustained demand for mass capacity drives over the next five years",
    "gold": "[Cause] sustained demand for mass capacity drives over the next five years [Relation] enable [Effect]  enterprises look to capture more data and use a multi-tiered storage approach",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, revenue growth in the real estate investments segment will remain healthy as allocations toward real estate as an asset class increase and investors are drawn to the largest players.",
    "output": "[Cause] allocations toward real estate as an asset class increase and investors are drawn to the largest players [Relation] cause [Effect] revenue growth in the real estate investments segment will remain healthy",
    "gold": "[Cause] allocations toward real estate as an asset class increase and investors are drawn to the largest players [Relation] cause [Effect] revenue growth in the real estate investments segment will remain healthy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We would have expected Bio-Rad's relatively high research spending (at about 9% of sales) to generate better organic growth and operating returns, and though we think Bio-Rad is likely to further improve operating leverage through scaled cost reductions, progress in that area has been limited over the past decade.",
    "output": "[Cause] Bio-Rad's relatively high research spending [Relation] enable [Effect] generate better organic growth and operating returns",
    "gold": "[Cause]  Bio-Rad's relatively high research spending [Relation] enable [Effect]  generate better organic growth and operating returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we expect 6.5% and 5.5% growth in these geographies in fiscal 2020, as the pandemic has caused a shift to at-home eating and strength in the cereal aisle.",
    "output": "[Cause] the pandemic has caused a shift to at-home eating and strength in the cereal aisle [Relation] cause [Effect] 6.5% and 5.5% growth in these geographies in fiscal 2020",
    "gold": "[Cause] the pandemic has caused a shift to at-home eating and strength in the cereal aisle [Relation] cause [Effect] 6.5% and 5.5% growth in these geographies in fiscal 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Uniformity in the process and machinery to convert pulp or recycled containers into containerboard components results in a flat cost curve regionally, making it hard for anybody to sustain a cost advantage.",
    "output": "[Cause] Uniformity in the process and machinery to convert pulp or recycled containers into containerboard components [Relation] cause [Effect] a flat cost curve regionally",
    "gold": "[Cause] Uniformity in the process and machinery to convert pulp or recycled containers into containerboard components [Relation] cause [Effect] a flat cost curve regionally",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Second, gaining distribution without paying for carriage in many markets for a new company may be nearly impossible, as cable operators have no need for new channels, which only add potential costs down the road.",
    "output": "[Cause] cable operators have no need for new channels [Relation] cause [Effect] gaining distribution without paying for carriage in many markets for a new company may be nearly impossible",
    "gold": "[Cause] gaining distribution without paying for carriage in many markets for a new company [Relation] cause [Effect] only add potential costs down the road",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Second, gaining distribution without paying for carriage in many markets for a new company may be nearly impossible, as cable operators have no need for new channels, which only add potential costs down the road.",
    "output": "[Cause] cable operators have no need for new channels [Relation] cause [Effect] add potential costs down the road",
    "gold": "[Cause] cable operators have no need for new channels [Relation] cause [Effect] gaining distribution without paying for carriage in many markets for a new company may be nearly impossible",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Moreover, switching is viewed by customers as troublesome, especially for customers--like those of Truist--who purchase multiple products from a bank.",
    "output": "[Cause] switching is viewed by customers as troublesome [Relation] cause [Effect] especially for customers--like those of Truist--who purchase multiple products from a bank",
    "gold": "[Cause] purchase multiple products from a bank [Relation] cause [Effect] switching is viewed by customers as troublesome",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given high up-front costs and the difficulty of capturing new customers from existing brands, we do not anticipate new entrants in the space.",
    "output": "[Cause] high up-front costs and the difficulty of capturing new customers from existing brands [Relation] cause [Effect] we do not anticipate new entrants in the space",
    "gold": "[Cause] high up-front costs and the difficulty of capturing new customers from existing brands [Relation] cause [Effect] we do not anticipate new entrants in the space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As solar costs have reached parity with conventional power generation sources throughout much of the world, First Solar has narrowed its strategic focus to the United States, Europe, and India.",
    "output": "[Cause] solar costs have reached parity with conventional power generation sources throughout much of the world [Relation] cause [Effect] First Solar has narrowed its strategic focus to the United States, Europe, and India",
    "gold": "[Cause] solar costs have reached parity with conventional power generation sources throughout much of the world [Relation] cause [Effect] First Solar has narrowed its strategic focus to the United States, Europe, and India",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The size of the company's network enables the firm to stock low turnover parts at its distribution centers and hub stores with relatively quick delivery available.",
    "output": "[Cause] The size of the company's network [Relation] enable [Effect] the firm to stock low turnover parts at its distribution centers and hub stores with relatively quick delivery available",
    "gold": "[Cause] The size of the company's network [Relation] enable [Effect] the firm to stock low turnover parts at its distribution centers and hub stores with relatively quick delivery available",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, because natural gas steam used in the DRI production process contains fewer impurities than coal steam, Nucor can produce stronger and higher-quality steel than its peers that use pig iron.",
    "output": "[Cause] natural gas steam used in the DRI production process contains fewer impurities than coal steam [Relation] cause [Effect] Nucor can produce stronger and higher-quality steel than its peers that use pig iron",
    "gold": "[Cause] natural gas steam used in the DRI production process contains fewer impurities than coal steam [Relation] cause [Effect] Nucor can produce stronger and higher-quality steel than its peers that use pig iron",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Merging Citigroup's Smith Barney business into its own wealth management business after the global financial crisis was transformational and catapulted Morgan Stanley into an industry leader.",
    "output": "[Cause] Merging Citigroup's Smith Barney business into its own wealth management business [Relation] enable [Effect] Morgan Stanley into an industry leader",
    "gold": "[Cause] Merging Citigroup's Smith Barney business into its own wealth management business [Relation] enable [Effect] Morgan Stanley into an industry leader",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If carbon taxes are enacted, airlines would likely pass the cost onto the consumer, which we anticipate would reduce aggregate travel demand.",
    "output": "[Cause] carbon taxes are enacted [Relation] cause [Effect] airlines would likely pass the cost onto the consumer",
    "gold": "[Cause] carbon taxes are enacted [Relation] cause [Effect] airlines would likely pass the cost onto the consumer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If carbon taxes are enacted, airlines would likely pass the cost onto the consumer, which we anticipate would reduce aggregate travel demand.",
    "output": "[Cause] airlines would likely pass the cost onto the consumer [Relation] cause [Effect] reduce aggregate travel demand",
    "gold": "[Cause] airlines would likely pass the cost onto the consumer [Relation] cause [Effect] reduce aggregate travel demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With little direct competition in patch pumps, Insulet has been able to convert more users to its innovative insulin pump.",
    "output": "[Cause] little direct competition in patch pumps [Relation] enable [Effect] Insulet has been able to convert more users to its innovative insulin pump",
    "gold": "[Cause]  little direct competition in patch pumps [Relation] enable [Effect]  Insulet has been able to convert more users to its innovative insulin pump",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management estimates the merger will have $160 million per year in synergies by 2022 because of the contiguous service territories and the joint ownership of three power plants, including the Wolf Creek nuclear generating station.",
    "output": "[Cause] the contiguous service territories and the joint ownership of three power plants, including the Wolf Creek nuclear generating station [Relation] cause [Effect] the merger will have $160 million per year in synergies by 2022",
    "gold": "[Cause] the contiguous service territories and the joint ownership of three power plants [Relation] cause [Effect] including the Wolf Creek nuclear generating station",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Intermodal saw first-half 2020 volume headwinds from COVID-19 disruption and depressed rates in the competing truckload industry but has since rebounded nicely on robust retailer restocking and tight truckload market capacity (rising truck-to-reconversions) and we still see it as a key long-term growth opportunity for CSX.",
    "output": "[Cause] robust retailer restocking and tight truckload market capacity (rising truck-to-reconversions) [Relation] enable [Effect] rebounded nicely",
    "gold": "[Cause]  since rebounded nicely on robust retailer restocking and tight truckload market capacity (rising truck-to-reconversions) [Relation] cause [Effect]  we still see it as a key long-term growth opportunity for CSX.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, the firm's powerful distribution network sets up the company as a strong partner for smaller drug companies that lack Sanofi's resources.",
    "output": "[Cause] the firm's powerful distribution network [Relation] enable [Effect] the company as a strong partner for smaller drug companies that lack Sanofi's resources",
    "gold": "[Cause]  the firm's powerful distribution network [Relation] enable [Effect] the company as a strong partner for smaller drug companies that lack Sanofi's resources",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sands' position in the profitable Singapore gaming market (31% of EBITDA), where a duopoly remains in place through 2030, is buoyed by the company expanding its presence with the development of a fourth tower (scheduled to open in 2025), solidifying our view of the firm's long-term growth.",
    "output": "[Cause] Sands' position in the profitable Singapore gaming market (31% of EBITDA), where a duopoly remains in place through 2030, is buoyed by the company expanding its presence with the development of a fourth tower (scheduled to open in 2025) [Relation] enable [Effect] solidifying our view of the firm's long-term growth",
    "gold": "[Cause] the company expanding its presence with the development of a fourth tower (scheduled to open in 2025) [Relation] enable [Effect] Sands' position in the profitable Singapore gaming market (31% of EBITDA), where a duopoly remains in place through 2030 | solidifying our view of the firm's long-term growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Even the oxygenators are subjected to considerable price competition because there is little clinical evidence to demonstrate how the competitive brands are different from each other.",
    "output": "[Cause] there is little clinical evidence to demonstrate how the competitive brands are different from each other [Relation] cause [Effect] Even the oxygenators are subjected to considerable price competition",
    "gold": "[Cause]  there is little clinical evidence to demonstrate how the competitive brands are different from each other [Relation] cause [Effect] Even the oxygenators are subjected to considerable price competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, as airline customers rightsize their fleets by retiring older, high-cost aircraft while deferring new deliveries, the fleet growth outlook remains subdued over the medium term.",
    "output": "[Cause] airline customers rightsize their fleets by retiring older, high-cost aircraft while deferring new deliveries [Relation] cause [Effect] the fleet growth outlook remains subdued over the medium term",
    "gold": "[Cause] airline customers rightsize their fleets by retiring older, high-cost aircraft while deferring new deliveries [Relation] cause [Effect] the fleet growth outlook remains subdued over the medium term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm has divested low-margin segments that were outside its core competency of emergency communications infrastructure and two-way radios while increasing investment in software and services, which helps make its competitive position more secure.",
    "output": "[Cause] The firm has divested low-margin segments that were outside its core competency of emergency communications infrastructure and two-way radios while increasing investment in software and services [Relation] enable [Effect] its competitive position more secure",
    "gold": "[Cause] The firm has divested low-margin segments that were outside its core competency of emergency communications infrastructure and two-way radios while increasing investment in software and services [Relation] enable [Effect] its competitive position more secure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, the most important advantage Equinix has is the network effect, which directly results from its catering to a larger number of companies within each of its data centers.",
    "output": "[Cause] its catering to a larger number of companies within each of its data centers [Relation] cause [Effect] the network effect",
    "gold": "[Cause] its catering to a larger number of companies within each of its data centers [Relation] enable [Effect] the network effect",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're raising our fair value estimate to $263 per share, up from $240, after incorporating more optimistic expectations for the commercialization of G7.",
    "output": "[Cause] incorporating more optimistic expectations for the commercialization of G7 [Relation] cause [Effect] We're raising our fair value estimate to $263 per share, up from $240",
    "gold": "[Cause]  incorporating more optimistic expectations for the commercialization of G7 [Relation] cause [Effect] We're raising our fair value estimate to $263 per share, up from $240",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Historically, Oxy has done a better job of generating returns for shareholders than most upstream oil and gas producers, but this record was derailed by the downturn in global crude prices that began in late 2014.",
    "output": "[Cause] the downturn in global crude prices that began in late 2014 [Relation] cause [Effect] this record was derailed",
    "gold": "[Cause] the downturn in global crude prices that began in late 2014 [Relation] cause [Effect] this record was derailed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite the absence of a long-term edge, Five Below should survive the pandemic, and its assortment pivot to high-demand categories has allowed it to stay open despite resurgent case counts (the full store network closed in the spring).",
    "output": "[Cause] its assortment pivot to high-demand categories [Relation] enable [Effect] allowed it to stay open despite resurgent case counts",
    "gold": "[Cause]  its assortment pivot to high-demand categories [Relation] enable [Effect] it to stay open despite resurgent case counts (the full store network closed in the spring)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "First, the recent consolidation of semiconductor firms 7 Jul 2021 05:00, UTCis expected to create demand for integrated systems made with the most advanced nodes.",
    "output": "[Cause] the recent consolidation of semiconductor firms 7 Jul 2021 05:00 [Relation] cause [Effect] UTCis expected to create demand for integrated systems made with the most advanced nodes",
    "gold": "[Cause] demand for integrated systems [Relation] cause [Effect]  the most advanced nodes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "AB InBev can enhance profitability by removing duplicate costs, expanding volume (it has tripled Budweiser's volume in China in less than three years and has doubled its share in the United Kingdom), and bringing distribution in-house, thereby capturing the downstream margin opportunity.",
    "output": "[Cause] AB InBev can enhance profitability by removing duplicate costs, expanding volume (it has tripled Budweiser's volume in China in less than three years and has doubled its share in the United Kingdom), and bringing distribution in-house [Relation] enable [Effect] capturing the downstream margin opportunity",
    "gold": "[Cause] by removing duplicate costs, expanding volume (it has tripled Budweiser's volume in China in less than three years and has doubled its share in the United Kingdom), and bringing distribution in-house, thereby capturing the downstream margin opportunity [Relation] cause [Effect] AB InBev can enhance profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With an expectation for higher-margin subscriptions and support to outpace products, we model consolidated gross margins to expand toward 72% in fiscal 2025 versus 71% in fiscal 2020.",
    "output": "[Cause] an expectation for higher-margin subscriptions and support to outpace products [Relation] cause [Effect] we model consolidated gross margins to expand toward 72% in fiscal 2025 versus 71% in fiscal 2020",
    "gold": "[Cause]  an expectation for higher-margin subscriptions and support to outpace products [Relation] cause [Effect] we model consolidated gross margins to expand toward 72% in fiscal 2025 versus 71% in fiscal 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The approximately 350 Class C and Class D malls are struggling and are either in or on the precipice of the \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"mall death spiral,\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" where vacancies lead to lower sales for remaining tenants, which leads to more vacancies, and so on.",
    "output": "[Cause] The approximately 350 Class C and Class D malls are struggling [Relation] cause [Effect] vacancies lead to lower sales for remaining tenants",
    "gold": "[Cause] vacancies [Relation] cause [Effect] lower sales for remaining tenants",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The approximately 350 Class C and Class D malls are struggling and are either in or on the precipice of the \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"mall death spiral,\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" where vacancies lead to lower sales for remaining tenants, which leads to more vacancies, and so on.",
    "output": "[Cause] lower sales for remaining tenants [Relation] cause [Effect] more vacancies",
    "gold": "[Cause] lower sales for remaining tenants [Relation] cause [Effect] more vacancies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Caesars' casino property portfolio has grown to around 50 properties from just four in 2014, as the company has excelled at identifying and integrating acquisitions that generate both strategic and economic value for shareholders.",
    "output": "[Cause] the company has excelled at identifying and integrating acquisitions that generate both strategic and economic value for shareholders [Relation] cause [Effect] Caesars' casino property portfolio has grown to around 50 properties from just four in 2014",
    "gold": "[Cause] the company has excelled at identifying and integrating acquisitions that generate both strategic and economic value for shareholders [Relation] cause [Effect] Caesars' casino property portfolio has grown to around 50 properties from just four in 2014",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the negative side, margins have been under some pressure recently as the company developed and migrated clients to a new card processing platform.",
    "output": "[Cause] the company developed and migrated clients to a new card processing platform [Relation] cause [Effect] margins have been under some pressure recently",
    "gold": "[Cause]  the company developed and migrated clients to a new card processing platform [Relation] cause [Effect] margins have been under some pressure recently",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The coronavirus has had a severe adverse effect on its sales in fiscal 2021 as many stores have been forced to close temporarily.",
    "output": "[Cause] many stores have been forced to close temporarily [Relation] cause [Effect] The coronavirus has had a severe adverse effect on its sales in fiscal 2021",
    "gold": "[Cause] many stores have been forced to close temporarily [Relation] cause [Effect] The coronavirus has had a severe adverse effect on its sales in fiscal 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While economic profits evaporated in fiscal 2020 as a result of the pandemic and associated store closures, we do not believe the near-term crisis will materially impact Ross' long-term standing, with a 35% average adjusted return on invested capital expected over the next decade.",
    "output": "[Cause] the pandemic and associated store closures [Relation] cause [Effect] economic profits evaporated in fiscal 2020",
    "gold": "[Cause] the pandemic and associated store closures [Relation] cause [Effect] economic profits evaporated in fiscal 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Allstate is offering rebates to customers as a result, but the company has seen a short-term boost to underwriting margins while social distancing efforts are in effect.",
    "output": "[Cause] Allstate is offering rebates to customers [Relation] cause [Effect] the company has seen a short-term boost to underwriting margins while social distancing efforts are in effect",
    "gold": "[Cause] company has seen a short-term boost to underwriting margins while social distancing efforts are in effect [Relation] cause [Effect] Allstate is offering rebates to customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Business travelers will often use miles from a co-branded credit card to upgrade flights when their company is unwilling to pay a premium price.",
    "output": "[Cause] their company is unwilling to pay a premium price [Relation] cause [Effect] Business travelers will often use miles from a co-branded credit card to upgrade flights",
    "gold": "[Cause] their company is unwilling to pay a premium price [Relation] cause [Effect] Business travelers will often use miles from a co-branded credit card to upgrade flights",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Urban Outfitters depends on apparel (61% of fiscal 2021 sales) and is therefore exposed to fashion risk and changes in the market.",
    "output": "[Cause] Urban Outfitters depends on apparel [Relation] cause [Effect] exposed to fashion risk and changes in the market",
    "gold": "[Cause] Urban Outfitters depends on apparel [Relation] cause [Effect] exposed to fashion risk and changes in the market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Annual contractual price reductions are the industry norm, so Lear has to aggressively employ kaizen, kan ban, and Lean Six Sigma manufacturing practices, among others, to advance cost savings.",
    "output": "[Cause] Annual contractual price reductions are the industry norm [Relation] cause [Effect] Lear has to aggressively employ kaizen, kan ban, and Lean Six Sigma manufacturing practices, among others, to advance cost savings",
    "gold": "[Cause] Annual contractual price reductions are the industry norm [Relation] cause [Effect] Lear has to aggressively employ kaizen, kan ban, and Lean Six Sigma manufacturing practices, among others, to advance cost savings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, the firm experiences a degree of financial risk, as hefty interest payments (36% of operating income in 2020) limit flexibility during downturns while carrying leverage and coverage requirements.",
    "output": "[Cause] hefty interest payments (36% of operating income in 2020) limit flexibility during downturns while carrying leverage and coverage requirements [Relation] cause [Effect] the firm experiences a degree of financial risk",
    "gold": "[Cause] hefty interest payments [Relation] prevent [Effect] flexibility during downturns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although we weigh the rest of the company's drugs with relatively high probability of approval because of promising trial data, there is still a degree of uncertainty associated with the company's clinical and commercial success.",
    "output": "[Cause] promising trial data [Relation] cause [Effect] we weigh the rest of the company's drugs with relatively high probability of approval",
    "gold": "[Cause] a degree of uncertainty associated with the company's clinical and commercial success [Relation] cause [Effect] we weigh the rest of the company's drugs with relatively high probability of approval",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given that various sectors and regions have experienced periods of tumult in the past, we think Vornado's geographic concentration in New York City could pose a risk.",
    "output": "[Cause] various sectors and regions have experienced periods of tumult in the past [Relation] cause [Effect] Vornado's geographic concentration in New York City could pose a risk",
    "gold": "[Cause] various sectors and regions have experienced periods of tumult in the past [Relation] cause [Effect]  Vornado's geographic concentration in New York City could pose a risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This reflects investments made during the boom, as well as structurally lower industry profits, owing to weak demand and a flattened cost curve.",
    "output": "[Cause] weak demand and a flattened cost curve [Relation] cause [Effect] structurally lower industry profits",
    "gold": "[Cause]  weak demand and a flattened cost curve [Relation] cause [Effect] structurally lower industry profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "An additional 2.2 GW of natural gas capacity is proposed in part to ensure grid reliability from the growth of intermittent renewable energy resources.",
    "output": "[Cause] ensure grid reliability from the growth of intermittent renewable energy resources [Relation] cause [Effect] An additional 2.2 GW of natural gas capacity is proposed",
    "gold": "[Cause] ensure grid reliability from the growth of intermittent renewable energy resources [Relation] cause [Effect] An additional 2.2 GW of natural gas capacity is proposed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect revenue growth and more efficient homebuilding operations will unlock operating leverage, reducing selling, general, and administrative expenses as percentage of revenue.",
    "output": "[Cause] revenue growth and more efficient homebuilding operations [Relation] enable [Effect] unlock operating leverage, reducing selling, general, and administrative expenses as percentage of revenue",
    "gold": "[Cause] revenue growth and more efficient homebuilding operations [Relation] cause [Effect] unlock operating leverage, reducing selling, general, and administrative expenses as percentage of revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the scale achieved in the other segments and the already high margins, we expect minimal margin expansion in the firm's other segments.",
    "output": "[Cause] the scale achieved in the other segments and the already high margins [Relation] cause [Effect] minimal margin expansion in the firm's other segments",
    "gold": "[Cause] the scale achieved in the other segments and the already high margins [Relation] enable [Effect] minimal margin expansion in the firm's other segments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's listing services is run under a three-tier system in which companies listed in the upper tiers must meet more stringent requirements and pay higher annual fees.",
    "output": "[Cause] The company's listing services is run under a three-tier system [Relation] cause [Effect] companies listed in the upper tiers must meet more stringent requirements and pay higher annual fees",
    "gold": "[Cause] The company's listing services is run under a three-tier system [Relation] cause [Effect] companies listed in the upper tiers must meet more stringent requirements and pay higher annual fees",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, demand declines in a single year, due to weather issues that result in fewer planted acres, can weigh on fertilizer prices.",
    "output": "[Cause] weather issues [Relation] cause [Effect] demand declines in a single year",
    "gold": "[Cause] weather issues [Relation] cause [Effect] fewer planted acres",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, demand declines in a single year, due to weather issues that result in fewer planted acres, can weigh on fertilizer prices.",
    "output": "[Cause] demand declines in a single year [Relation] cause [Effect] weigh on fertilizer prices",
    "gold": "[Cause] fewer planted acres [Relation] cause [Effect] demand declines in a single year",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, demand declines in a single year, due to weather issues that result in fewer planted acres, can weigh on fertilizer prices.",
    "output": "[Cause] fewer planted acres [Relation] cause [Effect] demand declines in a single year",
    "gold": "[Cause] demand declines in a single year [Relation] cause [Effect] weigh on fertilizer prices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Such growth in paid member count, coupled with 5% growth in average revenue per paying user, we think will result in a 20% five-year CAGR in dating revenue growth.",
    "output": "[Cause] Such growth in paid member count, coupled with 5% growth in average revenue per paying user [Relation] cause [Effect] a 20% five-year CAGR in dating revenue growth",
    "gold": "[Cause] Such growth in paid member count, coupled with 5% growth in average revenue per paying user [Relation] cause [Effect] a 20% five-year CAGR in dating revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "History suggests that carriers hesitate to leave towers that they are on, as non-consolidation-related churn for Crown Castle is historically between 1 and 2 percent.",
    "output": "[Cause] non-consolidation-related churn for Crown Castle is historically between 1 and 2 percent [Relation] cause [Effect] carriers hesitate to leave towers that they are on",
    "gold": "[Cause]  non-consolidation-related churn for Crown Castle is historically between 1 and 2 percent [Relation] cause [Effect]  carriers hesitate to leave towers that they are on",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Typically, original equipment manufacturers for aviation products sell the original product at a loss or very low margin and make up the massive development costs by exploiting monopolist power over the aftermarket.",
    "output": "[Cause] exploiting monopolist power over the aftermarket [Relation] enable [Effect] make up the massive development costs",
    "gold": "[Cause] exploiting monopolist power over the aftermarket [Relation] cause [Effect] make up the massive development costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our fair value uncertainty rating for Skyworks is high, considering the cyclical nature of the semiconductor industry and the company's highly concentrated customer base.",
    "output": "[Cause] the cyclical nature of the semiconductor industry and the company's highly concentrated customer base [Relation] cause [Effect] Our fair value uncertainty rating for Skyworks is high",
    "gold": "[Cause] the cyclical nature of the semiconductor industry and the company's highly concentrated customer base [Relation] cause [Effect] Our fair value uncertainty rating for Skyworks is high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Though there are viable outside competitors in for this product, namely Airbus, we think that the massive installed base of Sikorsky helicopter introduces switching costs to the customer, as it becomes more expensive for the military to maintain many different helicopter types due to commonality issues and training costs.",
    "output": "[Cause] commonality issues and training costs [Relation] cause [Effect] it becomes more expensive for the military to maintain many different helicopter types",
    "gold": "[Cause] commonality issues and training costs [Relation] cause [Effect] it becomes more expensive for the military to maintain many different helicopter types",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Though there are viable outside competitors in for this product, namely Airbus, we think that the massive installed base of Sikorsky helicopter introduces switching costs to the customer, as it becomes more expensive for the military to maintain many different helicopter types due to commonality issues and training costs.",
    "output": "[Cause] it becomes more expensive for the military to maintain many different helicopter types [Relation] cause [Effect] the massive installed base of Sikorsky helicopter introduces switching costs to the customer",
    "gold": "[Cause] it becomes more expensive for the military to maintain many different helicopter types [Relation] cause [Effect] the massive installed base of Sikorsky helicopter introduces switching costs to the customer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the city has recovered from tragedy before, there is the risk that pandemic dents the city's reputation and causes it to lose its appeal as a destination for office real estate.",
    "output": "[Cause] pandemic dents the city's reputation [Relation] cause [Effect] lose its appeal as a destination for office real estate",
    "gold": "[Cause] pandemic dents the city's reputation [Relation] cause [Effect] lose its appeal as a destination for office real estate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Improving insurance pricing is likely to act a modest tailwind to top-line growth in the very near term, with the impact of the coronavirus on the more macro-sensitive aspects of the business creating some offset.",
    "output": "[Cause] Improving insurance pricing [Relation] enable [Effect] act a modest tailwind to top-line growth in the very near term",
    "gold": "[Cause] Improving insurance pricing [Relation] enable [Effect] act a modest tailwind to top-line growth in the very near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Improving insurance pricing is likely to act a modest tailwind to top-line growth in the very near term, with the impact of the coronavirus on the more macro-sensitive aspects of the business creating some offset.",
    "output": "[Cause] the impact of the coronavirus on the more macro-sensitive aspects of the business [Relation] cause [Effect] some offset",
    "gold": "[Cause] Improving insurance pricing [Relation] enable [Effect] act a modest tailwind to top-line growth in the very near term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think Ferguson's branches are a key differentiator in the market as contractors value the ability to quickly and efficiently get the plumbing and HVAC products they need, while also minimizing shipping costs.",
    "output": "[Cause] contractors value the ability to quickly and efficiently get the plumbing and HVAC products they need, while also minimizing shipping costs [Relation] cause [Effect] Ferguson's branches are a key differentiator in the market",
    "gold": "[Cause] contractors value the ability to quickly and efficiently get the plumbing and HVAC products they need, while also minimizing shipping costs [Relation] cause [Effect] Ferguson's branches are a key differentiator in the market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Competition has also increased in Myanmar following the entry of a fourth operator in the market, which was facilitated by the government.",
    "output": "[Cause] the entry of a fourth operator in the market [Relation] cause [Effect] Competition has also increased in Myanmar",
    "gold": "[Cause] following the entry of a fourth operator in the market [Relation] enable [Effect]  facilitated by the government",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The cut in Enable's distribution and near-term impact of COVID-19 on earnings and cash flow forced CenterPoint to slash its dividend to an annual rate of $0.60 per share from $1.16.",
    "output": "[Cause] The cut in Enable's distribution and near-term impact of COVID-19 on earnings and cash flow [Relation] cause [Effect] CenterPoint to slash its dividend to an annual rate of $0.60 per share from $1.16",
    "gold": "[Cause] The cut in Enable's distribution and near-term impact of COVID-19 on earnings and cash flow [Relation] cause [Effect] CenterPoint to slash its dividend to an annual rate of $0.60 per share from $1.16",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As it has not historically operated in the core of the basin, Laredo does not share the cost advantage that Permian producers enjoy (the Howard County assets will drive up margins temporarily, but the company only has a few years' worth of drilling locations to work through there).",
    "output": "[Cause] it has not historically operated in the core of the basin [Relation] cause [Effect] Laredo does not share the cost advantage that Permian producers enjoy",
    "gold": "[Cause] it has not historically operated in the core of the basin [Relation] cause [Effect] Laredo does not share the cost advantage that Permian producers enjoy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we aren't blind to the fact that strict lockdowns enacted in these markets early in the pandemic could once again plague its operations if a subsequent wave of COVID-19 emerges.",
    "output": "[Cause] strict lockdowns enacted in these markets early in the pandemic [Relation] cause [Effect] plague its operations if a subsequent wave of COVID-19 emerges",
    "gold": "[Cause]  strict lockdowns enacted in these markets early in the pandemic [Relation] cause [Effect] plague its operations if a subsequent wave of COVID-19 emerges",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Third-party market sizing and share estimation attempts have varied significantly for Palantir based on considering the company's capabilities from analytics to artificial intelligence.",
    "output": "[Cause] considering the company's capabilities from analytics to artificial intelligence [Relation] cause [Effect] Third-party market sizing and share estimation attempts have varied significantly for Palantir",
    "gold": "[Cause] considering the company's capabilities from analytics to artificial intelligence [Relation] cause [Effect] Third-party market sizing and share estimation attempts have varied significantly for Palantir",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Grainger's Canadian business (less than 5% of sales) has struggled mightily in recent years, but it should contribute to growth if Grainger's restructuring efforts are successful.",
    "output": "[Cause] Grainger's restructuring efforts are successful [Relation] enable [Effect] it should contribute to growth",
    "gold": "[Cause] Grainger's restructuring efforts are successful [Relation] enable [Effect] it should contribute to growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we expect this ratio to decline in 2020 as a result of lower advertising rates stemming from less advertising demand due to COVID-19, we believe Wayfair will still outspend the peer group.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] lower advertising rates stemming from less advertising demand",
    "gold": "[Cause]  lower advertising rates stemming from less advertising demand [Relation] cause [Effect] this ratio to decline in 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although we expect this ratio to decline in 2020 as a result of lower advertising rates stemming from less advertising demand due to COVID-19, we believe Wayfair will still outspend the peer group.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] this ratio to decline in 2020",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect]  lower advertising rates stemming from less advertising demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Thus, despite the life-or-death importance of artificial heart-lung technology, we don't think LivaNova has been able to earn positive economic profits on its cardiovascular portfolio, based on its previous performance as stand-alone Sorin.",
    "output": "[Cause] its previous performance as stand-alone Sorin [Relation] cause [Effect] we don't think LivaNova has been able to earn positive economic profits on its cardiovascular portfolio",
    "gold": "[Cause]  its previous performance as stand-alone Sorin [Relation] cause [Effect] we don't think LivaNova has been able to earn positive economic profits on its cardiovascular portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On one hand, NetEase continues to invest in developing new games in a variety of genres; on the other hand, it has been expanding to pan-entertainment areas in order to sustain the lifecycle of its IPs and the games of the IPs.",
    "output": "[Cause] NetEase continues to invest in developing new games in a variety of genres [Relation] cause [Effect] it has been expanding to pan-entertainment areas in order to sustain the lifecycle of its IPs and the games of the IPs",
    "gold": "[Cause] sustain the lifecycle of its IPs and the games of the IPs [Relation] enable [Effect] it has been expanding to pan-entertainment areas",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, the European Central Bank has since started playing a much more active role in the oversight of European banks, which reduces regional differences and, in our opinion, strengthens the regulatory framework across the continent.",
    "output": "[Cause] the European Central Bank has since started playing a much more active role in the oversight of European banks [Relation] cause [Effect] reduces regional differences",
    "gold": "[Cause] the European Central Bank has since started playing a much more active role in the oversight of European banks [Relation] enable [Effect] reduces regional differences",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the European Central Bank has since started playing a much more active role in the oversight of European banks, which reduces regional differences and, in our opinion, strengthens the regulatory framework across the continent.",
    "output": "[Cause] the European Central Bank has since started playing a much more active role in the oversight of European banks [Relation] enable [Effect] strengthens the regulatory framework across the continent",
    "gold": "[Cause] the European Central Bank has since started playing a much more active role in the oversight of European banks [Relation] enable [Effect] strengthens the regulatory framework across the continent",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The market's attractiveness is heightened by the chronic nature of therapy and limited competition due to the complexity of developing efficient drugs to treat the disease.",
    "output": "[Cause] the complexity of developing efficient drugs to treat the disease [Relation] cause [Effect] The market's attractiveness is heightened by the chronic nature of therapy and limited competition",
    "gold": "[Cause] the complexity of developing efficient drugs to treat the disease [Relation] cause [Effect] The market's attractiveness is heightened by the chronic nature of therapy and limited competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Nike's powerful brand will continue to allow it to sign the key endorsement deals that will keep it on top.",
    "output": "[Cause] Nike's powerful brand [Relation] enable [Effect] it to sign the key endorsement deals that will keep it on top",
    "gold": "[Cause]  Nike's powerful brand [Relation] enable [Effect] it to sign the key endorsement deals that will keep it on top",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although Lamb Weston operates a retail business (primarily selling frozen potato fare) that should benefit from increased at-home food consumption, we don't think these near-term gains will prove sustainable.",
    "output": "[Cause] Lamb Weston operates a retail business (primarily selling frozen potato fare) that should benefit from increased at-home food consumption [Relation] cause [Effect] we don't think these near-term gains will prove sustainable",
    "gold": "[Cause]  increased at-home food consumption [Relation] cause [Effect] Lamb Weston operates a retail business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After going through a merger with Union des Assurances de Paris, or UAP, the following year, we think its problems began with the 1996 acquisition of Allstate's United States reinsurance business. This doubled Scor's share in the U.S., and the acquired reinsurance portfolio was one of the largest in this country serving small- and medium-sized businesses.",
    "output": "[Cause] After going through a merger with Union des Assurances de Paris, or UAP, the following year, we think its problems began with the 1996 acquisition of Allstate's United States reinsurance business [Relation] cause [Effect] doubled Scor's share in the U.S., and the acquired reinsurance portfolio was one of the largest in this country serving small- and medium-sized businesses",
    "gold": "[Cause] After going through a merger with Union des Assurances de Paris, or UAP, the following year, we think its problems began with the 1996 acquisition of Allstate's United States reinsurance business [Relation] cause [Effect] doubled Scor's share in the U.S., and the acquired reinsurance portfolio was one of the largest in this country serving small- and medium-sized businesses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A global manufacturing presence enables Aptiv to serve customers around the globe, capitalizing on the economies of scale inherent in automakers' plans to use more global vehicle platforms.",
    "output": "[Cause] A global manufacturing presence [Relation] enable [Effect] Aptiv to serve customers around the globe, capitalizing on the economies of scale inherent in automakers' plans to use more global vehicle platforms",
    "gold": "[Cause] A global manufacturing presence [Relation] enable [Effect]  Aptiv to serve customers around the globe, capitalizing on the economies of scale inherent in automakers' plans to use more global vehicle platforms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With its small-cell equipment widely regarded as topnotch, Nokia should benefit from the infrastructure change required to deliver mobile broadband content in most expeditious fashion.",
    "output": "[Cause] its small-cell equipment widely regarded as topnotch [Relation] enable [Effect] Nokia should benefit from the infrastructure change required to deliver mobile broadband content in most expeditious fashion",
    "gold": "[Cause]  its small-cell equipment widely regarded as topnotch [Relation] cause [Effect] Nokia should benefit from the infrastructure change required to deliver mobile broadband content in most expeditious fashion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "First, as the 9,800 miles of pipes across 15 states connects refineries to end markets such as gas stations via 53 Magellan terminals, demand is highly stable as it depends on consumer demand in terms of miles driven and fuel efficiency.",
    "output": "[Cause] the 9,800 miles of pipes across 15 states connects refineries to end markets such as gas stations via 53 Magellan terminals [Relation] cause [Effect] demand is highly stable",
    "gold": "[Cause] the 9,800 miles of pipes across 15 states connects refineries to end markets such as gas stations via 53 Magellan terminals [Relation] cause [Effect] demand is highly stable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "First, as the 9,800 miles of pipes across 15 states connects refineries to end markets such as gas stations via 53 Magellan terminals, demand is highly stable as it depends on consumer demand in terms of miles driven and fuel efficiency.",
    "output": "[Cause] it depends on consumer demand in terms of miles driven and fuel efficiency [Relation] cause [Effect] demand is highly stable",
    "gold": "[Cause] it depends on consumer demand in terms of miles driven and fuel efficiency [Relation] cause [Effect] demand is highly stable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's overall balance sheet strength makes it capable of taking on large amounts of super-catastrophe underwriting (covering events like terrorism and natural catastrophes) that few companies have the capacity to endure.",
    "output": "[Cause] The company's overall balance sheet strength [Relation] enable [Effect] it capable of taking on large amounts of super-catastrophe underwriting (covering events like terrorism and natural catastrophes) that few companies have the capacity to endure",
    "gold": "[Cause] The company's overall balance sheet strength [Relation] enable [Effect]  it capable of taking on large amounts of super-catastrophe underwriting (covering events like terrorism and natural catastrophes) that few companies have the capacity to endure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customers also find value in Deere's strong secondary market, where sellers of used equipment benefit from high resale values, helping reduce the total cost of ownership.",
    "output": "[Cause] sellers of used equipment benefit from high resale values [Relation] enable [Effect] reduce the total cost of ownership",
    "gold": "[Cause] value in Deere's strong secondary market [Relation] enable [Effect]  reduce the total cost of ownership",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For example, the company has its roots in animal proteins but expanded to other types of proteins with acquisitions of Skippy peanut butter and Justin's nut butters.",
    "output": "[Cause] acquisitions of Skippy peanut butter and Justin's nut butters [Relation] enable [Effect] expanded to other types of proteins",
    "gold": "[Cause] acquisitions of Skippy peanut butter and Justin's nut butters [Relation] cause [Effect] expanded to other types of proteins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do not believe the environmental, social, and governance risks that affect Nike will have a material impact on its financial results or investment prospects.",
    "output": "[Cause] the environmental, social, and governance risks that affect Nike [Relation] prevent [Effect] have a material impact on its financial results or investment prospects",
    "gold": "[Cause]  the environmental, social, and governance risks that affect Nike [Relation] prevent [Effect] have a material impact on its financial results or investment prospects",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the FAST Act nears expiration, we think bipartisan support for improved infrastructure should help bring a new long-term law in its place.",
    "output": "[Cause] bipartisan support for improved infrastructure [Relation] enable [Effect] bring a new long-term law in its place",
    "gold": "[Cause] he FAST Act nears expiration [Relation] cause [Effect] bipartisan support for improved infrastructure should help bring a new long-term law in its place",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The pandemic injects considerable uncertainty into forecasting Dollar Tree's near-term results, as elevated consumables spending meets difficult comparisons throughout fiscal 2021 as the crisis is lapped.",
    "output": "[Cause] elevated consumables spending meets difficult comparisons throughout fiscal 2021 as the crisis is lapped [Relation] cause [Effect] The pandemic injects considerable uncertainty into forecasting Dollar Tree's near-term results",
    "gold": "[Cause] elevated consumables spending meets difficult comparisons throughout fiscal 2021 as the crisis is lapped [Relation] cause [Effect] The pandemic injects considerable uncertainty into forecasting Dollar Tree's near-term results",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think it has a strong but unproven portfolio of intangible assets in its pipeline, which is in early stages of development, and thus approval is highly uncertain.",
    "output": "[Cause] it has a strong but unproven portfolio of intangible assets in its pipeline, which is in early stages of development [Relation] cause [Effect] approval is highly uncertain",
    "gold": "[Cause]  it has a strong but unproven portfolio of intangible assets in its pipeline, which is in early stages of development [Relation] cause [Effect]  approval is highly uncertain",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the intensifying railway reform--tariff hikes, increasing pricing autonomy, and railway asset securitization, as well as railway land utilization--to drive railway sector's operating efficiency, improve the earnings outlook, and ease its debt burden.",
    "output": "[Cause] the intensifying railway reform--tariff hikes, increasing pricing autonomy, and railway asset securitization, as well as railway land utilization [Relation] enable [Effect] railway sector's operating efficiency, improve the earnings outlook, and ease its debt burden",
    "gold": "[Cause] the intensifying railway reform--tariff hikes, increasing pricing autonomy, and railway asset securitization, as well as railway land utilization [Relation] enable [Effect] railway sector's operating efficiency, improve the earnings outlook, and ease its debt burden",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As one of the largest shale companies, EOG has access to a more complete database and is able to better optimize the completion process to drive superior performance.",
    "output": "[Cause] As one of the largest shale companies [Relation] enable [Effect] EOG has access to a more complete database and is able to better optimize the completion process to drive superior performance",
    "gold": "[Cause] As one of the largest shale companies [Relation] enable [Effect] EOG has access to a more complete database and is able to better optimize the completion process to drive superior performance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sales also fell another 1% in fiscal 2020 due to COVID-19 headwinds, which have weighed on demand for smartphones during the pandemic.",
    "output": "[Cause] COVID-19 headwinds [Relation] cause [Effect] Sales also fell another 1% in fiscal 2020",
    "gold": "[Cause] COVID-19 headwinds [Relation] cause [Effect] Sales also fell another 1% in fiscal 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sales also fell another 1% in fiscal 2020 due to COVID-19 headwinds, which have weighed on demand for smartphones during the pandemic.",
    "output": "[Cause] COVID-19 headwinds [Relation] cause [Effect] Sales also fell another 1% in fiscal 2020",
    "gold": "[Cause] COVID-19 headwinds [Relation] prevent [Effect] demand for smartphones during the pandemic",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe that HCI will continue to be embraced in locations like remote offices, retail locations, and factories as edge computing continues its rapid growth.",
    "output": "[Cause] edge computing continues its rapid growth [Relation] cause [Effect] HCI will continue to be embraced in locations like remote offices, retail locations, and factories",
    "gold": "[Cause] edge computing continues its rapid growth [Relation] cause [Effect] HCI will continue to be embraced in locations like remote offices, retail locations, and factories",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm managed through a very difficult 2020 via sharply reduced capital spending, a nearly 90% dividend reduction, and expense cuts.",
    "output": "[Cause] sharply reduced capital spending, a nearly 90% dividend reduction, and expense cuts [Relation] enable [Effect] The firm managed through a very difficult 2020",
    "gold": "[Cause] sharply reduced capital spending, a nearly 90% dividend reduction, and expense cuts [Relation] enable [Effect] The firm managed through a very difficult 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It is advantageous in brake pads because it has one of the lowest coefficients of thermal expansion among commercially used metals, which further reduces vibration.",
    "output": "[Cause] it has one of the lowest coefficients of thermal expansion among commercially used metals [Relation] cause [Effect] It is advantageous in brake pads",
    "gold": "[Cause]  it has one of the lowest coefficients of thermal expansion among commercially used metals [Relation] cause [Effect] It is advantageous in brake pads",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Huntington is not large enough to be considered a global systemically important bank and therefore avoids some of the more onerous regulatory capital requirements.",
    "output": "[Cause] Huntington is not large enough to be considered a global systemically important bank [Relation] cause [Effect] avoids some of the more onerous regulatory capital requirements",
    "gold": "[Cause] Huntington is not large enough to be considered a global systemically important bank [Relation] cause [Effect] avoids some of the more onerous regulatory capital requirements",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This dynamic, which is influenced by cost advantages and network effects, makes Cigna's ability to control medical cost trends particularly valuable.",
    "output": "[Cause] This dynamic, which is influenced by cost advantages and network effects [Relation] enable [Effect] makes Cigna's ability to control medical cost trends particularly valuable",
    "gold": "[Cause] cost advantages and network effects [Relation] cause [Effect] This dynamic",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Tenet has improved its local market positions via portfolio additions and divestitures, and at last count in early 2018, management claimed a number-one or -two market position in more than 70% of its markets, which probably has risen after recent divestitures of underperforming facilities.",
    "output": "[Cause] portfolio additions and divestitures [Relation] enable [Effect] Tenet has improved its local market positions",
    "gold": "[Cause] recent divestitures of underperforming facilities [Relation] cause [Effect] management claimed a number-one or -two market position in more than 70% of its markets, which probably has risen",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Tenet has improved its local market positions via portfolio additions and divestitures, and at last count in early 2018, management claimed a number-one or -two market position in more than 70% of its markets, which probably has risen after recent divestitures of underperforming facilities.",
    "output": "[Cause] recent divestitures of underperforming facilities [Relation] cause [Effect] management claimed a number-one or -two market position in more than 70% of its markets",
    "gold": "[Cause] portfolio additions and divestitures [Relation] cause [Effect] Tenet has improved its local market positions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think a very high cost of equity and above average cost of debt are reasonable for this airline, given United's' distressed business model.",
    "output": "[Cause] United's' distressed business model [Relation] cause [Effect] a very high cost of equity and above average cost of debt are reasonable for this airline",
    "gold": "[Cause] United's' distressed business model [Relation] cause [Effect]  a very high cost of equity and above average cost of debt are reasonable for this airline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Cigna's local market share rises, its negotiating leverage with providers also rises, which can create a virtuous cycle where Cigna attracts even more clients and more providers to its insurance network.",
    "output": "[Cause] Cigna's local market share rises [Relation] cause [Effect] its negotiating leverage with providers also rises",
    "gold": "[Cause] Cigna's local market share rises [Relation] cause [Effect] its negotiating leverage with providers also rises",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Cigna's local market share rises, its negotiating leverage with providers also rises, which can create a virtuous cycle where Cigna attracts even more clients and more providers to its insurance network.",
    "output": "[Cause] its negotiating leverage with providers also rises [Relation] enable [Effect] create a virtuous cycle where Cigna attracts even more clients and more providers to its insurance network",
    "gold": "[Cause] its negotiating leverage with providers also rises [Relation] cause [Effect] create a virtuous cycle where Cigna attracts even more clients and more providers to its insurance network",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The business jet market as a whole is more fragmented than the commercial aircraft market, but product complexity ensures that only Gulfstream, Dassault, and Bombardier can compete in the long-range large-cabin jet market.",
    "output": "[Cause] product complexity [Relation] enable [Effect] only Gulfstream, Dassault, and Bombardier can compete in the long-range large-cabin jet market",
    "gold": "[Cause] product complexity ensures that only Gulfstream, Dassault, and Bombardier can compete in the long-range large-cabin jet market [Relation] cause [Effect] The business jet market as a whole is more fragmented than the commercial aircraft market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In a downturn, which can occur from economic slowdown, industry oversupply, or outbreaks of airborne illnesses like COVID-19, consumers and businesses look to cut back on expenses like travel.",
    "output": "[Cause] economic slowdown, industry oversupply, or outbreaks of airborne illnesses like COVID-19 [Relation] cause [Effect] consumers and businesses look to cut back on expenses like travel",
    "gold": "[Cause] economic slowdown, industry oversupply, or outbreaks of airborne illnesses like COVID-19 [Relation] cause [Effect] consumers and businesses look to cut back on expenses like travel",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the process is more complicated than it sounds, it's accomplished in part by closing sorting yards and lengthening trains, which reduces train starts, lowers labor costs, cuts terminal dwell time, and enables rails to drastically cut the size of their locomotive fleet.",
    "output": "[Cause] it's accomplished in part by closing sorting yards and lengthening trains [Relation] enable [Effect] rails to drastically cut the size of their locomotive fleet",
    "gold": "[Cause] it's accomplished in part by closing sorting yards and lengthening trains [Relation] enable [Effect] rails to drastically cut the size of their locomotive fleet",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite all of these positive recent trends related to those strategic initiatives, external factors and an inflated debt position are creating a murky outlook for Tenet.",
    "output": "[Cause] external factors and an inflated debt position [Relation] cause [Effect] creating a murky outlook for Tenet",
    "gold": "[Cause] positive recent trends related to those strategic initiatives [Relation] cause [Effect] external factors and an inflated debt position are creating a murky outlook for Tenet",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Similarly, product life cycles in the smartphone industry are exceptionally short, so hard-fought design wins one year might not translate to a steady revenue stream in the long term.",
    "output": "[Cause] product life cycles in the smartphone industry are exceptionally short [Relation] cause [Effect] hard-fought design wins one year might not translate to a steady revenue stream in the long term",
    "gold": "[Cause] product life cycles in the smartphone industry are exceptionally short [Relation] cause [Effect] hard-fought design wins one year might not translate to a steady revenue stream in the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, as roads become crowded and traffic fatalities increase, developing countries may require similar vehicle safety legislation to that required in Europe and the U.S.",
    "output": "[Cause] roads become crowded and traffic fatalities increase [Relation] cause [Effect] developing countries may require similar vehicle safety legislation to that required in Europe and the U.S",
    "gold": "[Cause] roads become crowded [Relation] cause [Effect] traffic fatalities increase",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect Monolithic to prosper from strong demand in automotive and industrial applications, while navigating around supply constraints that appear to be problematic throughout the industry.",
    "output": "[Cause] strong demand in automotive and industrial applications [Relation] enable [Effect] Monolithic to prosper",
    "gold": "[Cause] strong demand in automotive and industrial applications [Relation] enable [Effect]  Monolithic to prosper",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given Paylocity's 400-plus integrations with such players, partners benefit as they can directly receive customer data through the firm's platform.",
    "output": "[Cause] Paylocity's 400-plus integrations with such players [Relation] enable [Effect] partners benefit as they can directly receive customer data through the firm's platform",
    "gold": "[Cause] they can directly receive customer data through the firm's platform [Relation] cause [Effect] Given Paylocity's 400-plus integrations with such players, partners benefit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe France, which generates around 50% of group revenue and EBITDA, is the only geographical region where Orange enjoys a competitive advantage due to efficient scale.",
    "output": "[Cause] efficient scale [Relation] enable [Effect] Orange enjoys a competitive advantage",
    "gold": "[Cause] efficient scale [Relation] cause [Effect] Orange enjoys a competitive advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Once hospitals are familiar with a particular brand of device, they rarely switch, thanks to retraining costs as well as product and process familiarity.",
    "output": "[Cause] hospitals are familiar with a particular brand of device [Relation] cause [Effect] rarely switch",
    "gold": "[Cause] retraining costs as well as product and process familiarity [Relation] cause [Effect] hospitals are familiar with a particular brand of device",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Once hospitals are familiar with a particular brand of device, they rarely switch, thanks to retraining costs as well as product and process familiarity.",
    "output": "[Cause] retraining costs as well as product and process familiarity [Relation] cause [Effect] hospitals are familiar with a particular brand of device, they rarely switch",
    "gold": "[Cause] hospitals are familiar with a particular brand of device [Relation] cause [Effect] rarely switch",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Bed Bath & Beyond has put forth an updated strategy to revitalize the brand and regain customer confidence by focusing on its core properties. As such, the company plans to divest peripheral brands such as Cost Plus and focus on the Bed Bath & Beyond, Buy Buy Baby, Harmon Face Value, and Decorist labels.",
    "output": "[Cause] Bed Bath & Beyond has put forth an updated strategy to revitalize the brand and regain customer confidence by focusing on its core properties [Relation] cause [Effect] the company plans to divest peripheral brands such as Cost Plus and focus on the Bed Bath & Beyond, Buy Buy Baby, Harmon Face Value, and Decorist labels",
    "gold": "[Cause] Bed Bath & Beyond has put forth an updated strategy to revitalize the brand and regain customer confidence by focusing on its core properties [Relation] cause [Effect] the company plans to divest peripheral brands such as Cost Plus and focus on the Bed Bath & Beyond, Buy Buy Baby, Harmon Face Value, and Decorist labels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, the trend toward unilateral trade agreements between the United States and other countries increases complexity for companies around the world from a customs and taxation perspective.",
    "output": "[Cause] the trend toward unilateral trade agreements between the United States and other countries [Relation] cause [Effect] complexity for companies around the world from a customs and taxation perspective",
    "gold": "[Cause] the trend toward unilateral trade agreements between the United States and other countries [Relation] cause [Effect] increases complexity for companies around the world",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We acknowledge that the current management team and the Starboard Value-nominated board have taken prudent steps to optimize Darden's cost structure and improve restaurant-level operations. These initiatives have included corporate general and administrative expense cuts, food procurement/waste reductions, labor/facilities/advertising cost optimization, menu innovations, and accelerated table turns.",
    "output": "[Cause] corporate general and administrative expense cuts, food procurement/waste reductions, labor/facilities/advertising cost optimization, menu innovations, and accelerated table turns [Relation] enable [Effect] optimize Darden's cost structure and improve restaurant-level operations",
    "gold": "[Cause] corporate general and administrative expense cuts, food procurement/waste reductions, labor/facilities/advertising cost optimization, menu innovations, and accelerated table turns [Relation] enable [Effect]  optimize Darden's cost structure and improve restaurant-level operations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This percentage actually understates the overall impact of streaming, as Warner Music does not break out the streaming portion of publishing revenue separately.",
    "output": "[Cause] Warner Music does not break out the streaming portion of publishing revenue separately [Relation] cause [Effect] This percentage actually understates the overall impact of streaming",
    "gold": "[Cause] Warner Music does not break out the streaming portion of publishing revenue separately [Relation] cause [Effect] This percentage actually understates the overall impact of streaming",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As TransDigm is the sole-source provider on many of its products, the firm can aggressively price spare parts in the aftermarket.",
    "output": "[Cause] TransDigm is the sole-source provider on many of its products [Relation] cause [Effect] the firm can aggressively price spare parts in the aftermarket",
    "gold": "[Cause]  TransDigm is the sole-source provider on many of its products [Relation] cause [Effect] the firm can aggressively price spare parts in the aftermarket",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To entice cruisers to travel again, we think Carnival could see further pricing pressure from 2019 levels, as future cruise credits are applied across a plethora of sailings and cruise packages are more actively sought for their value.",
    "output": "[Cause] future cruise credits are applied across a plethora of sailings and cruise packages are more actively sought for their value [Relation] cause [Effect] Carnival could see further pricing pressure from 2019 levels",
    "gold": "[Cause] entice cruisers to travel again [Relation] cause [Effect] Carnival could see further pricing pressure from 2019 levels",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To entice cruisers to travel again, we think Carnival could see further pricing pressure from 2019 levels, as future cruise credits are applied across a plethora of sailings and cruise packages are more actively sought for their value.",
    "output": "[Cause] future cruise credits are applied across a plethora of sailings and cruise packages are more actively sought for their value [Relation] cause [Effect] Carnival could see further pricing pressure from 2019 levels",
    "gold": "[Cause]  future cruise credits are applied across a plethora of sailings and cruise packages are more actively sought for their value [Relation] cause [Effect] Carnival could see further pricing pressure from 2019 levels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its brand intangible asset has historically been the supporting factor in its top- and bottom-line growth, as its ability to drive repeat business relies on customer loyalty and smart marketing and merchandising; the firm has access to some of the best analytics in retail.",
    "output": "[Cause] its ability to drive repeat business relies on customer loyalty and smart marketing and merchandising [Relation] cause [Effect] Its brand intangible asset has historically been the supporting factor in its top- and bottom-line growth",
    "gold": "[Cause]  its ability to drive repeat business relies on customer loyalty and smart marketing and merchandising [Relation] enable [Effect] Its brand intangible asset has historically been the supporting factor in its top- and bottom-line growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Like many websites and apps, Spotify will need to strike the fine balance between serving ads to its users in order to offer a free service, and serving too many ads and thus driving users away.",
    "output": "[Cause] serve too many ads [Relation] cause [Effect] driving users away",
    "gold": "[Cause] serving too many ads [Relation] cause [Effect] driving users away",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Like many websites and apps, Spotify will need to strike the fine balance between serving ads to its users in order to offer a free service, and serving too many ads and thus driving users away.",
    "output": "[Cause] serving too many ads [Relation] cause [Effect] driving users away",
    "gold": "[Cause] serving ads to its users [Relation] cause [Effect] offer a free service",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With Nvidia in the process of acquiring ARM, we note there is heightened risk that more ARM-based CPUs will threaten Intel's x86 CPU hegemony, particularly in the data center.",
    "output": "[Cause] Nvidia in the process of acquiring ARM [Relation] cause [Effect] there is heightened risk that more ARM-based CPUs will threaten Intel's x86 CPU hegemony, particularly in the data center",
    "gold": "[Cause] Nvidia in the process of acquiring ARM [Relation] cause [Effect] there is heightened risk that more ARM-based CPUs will threaten Intel's x86 CPU hegemony, particularly in the data center",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Considering the long learning curve that comes with each company's instrumentation system, and the outsize effect that surgeon skill has on clinical outcomes in orthopedics, it is not surprising that surgeons are resistant to changing implant companies.",
    "output": "[Cause] the long learning curve that comes with each company's instrumentation system, and the outsize effect that surgeon skill has on clinical outcomes in orthopedics [Relation] cause [Effect] it is not surprising that surgeons are resistant to changing implant companies",
    "gold": "[Cause] the long learning curve that comes with each company's instrumentation system, and the outsize effect that surgeon skill has on clinical outcomes in orthopedics [Relation] cause [Effect] it is not surprising that surgeons are resistant to changing implant companies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This leads to more collaboration and cooperation between regulators and banks, as well as greater institutional memory and more coordinated and easily implemented responses if strains begin to appear in the system.",
    "output": "[Cause] strains begin to appear in the system [Relation] cause [Effect] more collaboration and cooperation between regulators and banks, as well as greater institutional memory and more coordinated and easily implemented responses",
    "gold": "[Cause] strains begin to appear in the system [Relation] cause [Effect]  more collaboration and cooperation between regulators and banks, as well as greater institutional memory and more coordinated and easily implemented responses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "SSDs have already acquired significant share in the PC market, especially with laptops, and we believe Seagate will be unlikely to offset the loss of this market with sales from enterprise storage.",
    "output": "[Cause] sales from enterprise storage [Relation] prevent [Effect] offset the loss of this market",
    "gold": "[Cause] sales from enterprise storage [Relation] cause [Effect] offset the loss of this market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the economics for other renewable energy sources like wind and solar have vastly improved in recent years, presenting a challenge for geothermal development.",
    "output": "[Cause] the economics for other renewable energy sources like wind and solar have vastly improved in recent years [Relation] cause [Effect] a challenge for geothermal development",
    "gold": "[Cause] the economics for other renewable energy sources like wind and solar have vastly improved in recent years [Relation] cause [Effect] a challenge for geothermal development",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At the end of March 2021, the company sourced 16% of its AUM from the United Kingdom (5%) and Continental Europe (11%), leaving that part of its business exposed to the fallout from Brexit.",
    "output": "[Cause] the fallout from Brexit [Relation] cause [Effect] leaving that part of its business exposed",
    "gold": "[Cause] leaving that part of its business exposed [Relation] cause [Effect] the fallout from Brexit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "At the end of March 2021, the company sourced 16% of its AUM from the United Kingdom (5%) and Continental Europe (11%), leaving that part of its business exposed to the fallout from Brexit.",
    "output": "[Cause] the fallout from Brexit [Relation] cause [Effect] leaving that part of its business exposed",
    "gold": "[Cause] the fallout from Brexit [Relation] cause [Effect] leaving that part of its business exposed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the last decade, Edwards has been focused on technologies that have given the heart valve market a jolt by developing minimally invasive aortic heart valves that can be installed through a catheter, thereby making the procedure and recovery much easier for patients.",
    "output": "[Cause] Edwards has been focused on technologies [Relation] enable [Effect] the heart valve market a jolt",
    "gold": "[Cause] Edwards has been focused on technologies | developing minimally invasive aortic heart valves that can be installed through a catheter [Relation] cause [Effect] the heart valve market a jolt",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the last decade, Edwards has been focused on technologies that have given the heart valve market a jolt by developing minimally invasive aortic heart valves that can be installed through a catheter, thereby making the procedure and recovery much easier for patients.",
    "output": "[Cause] Edwards has been focused on technologies [Relation] enable [Effect] the procedure and recovery much easier for patients",
    "gold": "[Cause] Edwards has been focused on technologies | developing minimally invasive aortic heart valves that can be installed through a catheter [Relation] enable [Effect] the procedure and recovery much easier for patients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The U.S., by some measures, has 2-8 times as much retail space per capita as other industrialized nations, suggesting that many stores are unnecessary and will close.",
    "output": "[Cause] The U.S., by some measures, has 2-8 times as much retail space per capita as other industrialized nations [Relation] cause [Effect] many stores are unnecessary and will close",
    "gold": "[Cause] The U.S., by some measures, has 2-8 times as much retail space per capita as other industrialized nations [Relation] cause [Effect] many stores are unnecessary and will close",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These factors, combined with more disciplined marketing and fewer one-time charges, should also allow operating margins to widen from 27.3% in 2020 to over 32% in 2025.",
    "output": "[Cause] These factors, combined with more disciplined marketing and fewer one-time charges [Relation] enable [Effect] operating margins to widen from 27.3% in 2020 to over 32% in 2025",
    "gold": "[Cause] These factors, combined with more disciplined marketing and fewer one-time charges [Relation] enable [Effect]  operating margins to widen from 27.3% in 2020 to over 32% in 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, Huntington benefits from strong results in the automobile sales industry, and a significant downturn in sales could negatively affect the bank's revenue growth as well as credit losses, although the bank does target superprime car buyers exclusively within its indirect auto portfolio.",
    "output": "[Cause] a significant downturn in sales [Relation] prevent [Effect] negatively affect the bank's revenue growth as well as credit losses",
    "gold": "[Cause]  a significant downturn in sales [Relation] cause [Effect]  negatively affect the bank's revenue growth as well as credit losses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see 18% as a reasonable medium-term margin expectation, driven by product mix and operating leverage as volumes grow in some of Heineken's greenfield emerging markets.",
    "output": "[Cause] product mix and operating leverage [Relation] cause [Effect] 18% as a reasonable medium-term margin expectation",
    "gold": "[Cause] product mix and operating leverage [Relation] enable [Effect] 18% as a reasonable medium-term margin expectation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see 18% as a reasonable medium-term margin expectation, driven by product mix and operating leverage as volumes grow in some of Heineken's greenfield emerging markets.",
    "output": "[Cause] volume grow in some of Heineken's greenfield emerging markets [Relation] cause [Effect] product mix and operating leverage",
    "gold": "[Cause] volumes grow in some of Heineken's greenfield emerging markets [Relation] cause [Effect] product mix and operating leverage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because pricing is regulated, we expect it to be flat, with some potential improvement in the mutual fund and interim business from newly approved notice and access fees.",
    "output": "[Cause] pricing is regulated [Relation] cause [Effect] we expect it to be flat",
    "gold": "[Cause] pricing is regulated [Relation] cause [Effect] we expect it to be flat",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because pricing is regulated, we expect it to be flat, with some potential improvement in the mutual fund and interim business from newly approved notice and access fees.",
    "output": "[Cause] newly approved notice and access fees [Relation] enable [Effect] some potential improvement in the mutual fund and interim business",
    "gold": "[Cause] newly approved notice and access fees [Relation] cause [Effect] some potential improvement in the mutual fund and interim business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While phone companies, notably AT&T, are starting to increase network investment, we expect these efforts will take time to affect Charter and that it will remain a strong competitor even when faced with strong rival networks.",
    "output": "[Cause] these efforts will take time to affect Charter [Relation] cause [Effect] it will remain a strong competitor even when faced with strong rival networks",
    "gold": "[Cause] phone companies, notably AT&T, are starting to increase network investment [Relation] cause [Effect] these efforts will take time to affect Charter and that it will remain a strong competitor even when faced with strong rival networks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Fiscal 2020 was a challenging year for the firm, as gaming revenue fell due to a cryptocurrency mining-related hangover and excess channel inventories, but we anticipate sales growth of over 20% in fiscal 2022, thanks to gaming and data center strength.",
    "output": "[Cause] gaming revenue fell [Relation] cause [Effect] we anticipate sales growth of over 20% in fiscal 2022",
    "gold": "[Cause] gaming and data center strength [Relation] enable [Effect] we anticipate sales growth of over 20% in fiscal 2022",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Equity execution can be seen as a loss leader that enables ICE's more profitable data and service-driven revenue streams to persist.",
    "output": "[Cause] Equity execution [Relation] enable [Effect] ICE's more profitable data and service-driven revenue streams to persist",
    "gold": "[Cause] Equity execution [Relation] enable [Effect]  ICE's more profitable data and service-driven revenue streams to persist",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customers in these end markets are unlikely to aggressively pursue cost savings by switching to a cheaper alternative, as the cost of outages could outweigh any potential cost savings.",
    "output": "[Cause] the cost of outages could outweigh any potential cost savings [Relation] cause [Effect] Customers in these end markets are unlikely to aggressively pursue cost savings by switching to a cheaper alternative",
    "gold": "[Cause]  the cost of outages could outweigh any potential cost savings [Relation] cause [Effect] Customers in these end markets are unlikely to aggressively pursue cost savings by switching to a cheaper alternative",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The majority of the potential credit risk is split among the clearinghouse members themselves with the guaranty fund and potential assessments adding up to just under $22 billion at the end of 2020. As a result, the risk mitigation provided to investors is tied to the number and size of the clearinghouse members at a clearinghouse, not just the financial strength of the clearinghouse.",
    "output": "[Cause] The majority of the potential credit risk is split among the clearinghouse members themselves with the guaranty fund and potential assessments adding up to just under $22 billion at the end of 2020 [Relation] cause [Effect] the risk mitigation provided to investors is tied to the number and size of the clearinghouse members at a clearinghouse, not just the financial strength of the clearinghouse",
    "gold": "[Cause] The majority of the potential credit risk is split among the clearinghouse members themselves with the guaranty fund and potential assessments adding up to just under $22 billion at the end of 2020 [Relation] cause [Effect] the risk mitigation provided to investors is tied to the number and size of the clearinghouse members at a clearinghouse, not just the financial strength of the clearinghouse",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Televisa has been allowed to build a content empire thanks to its dominant share of broadcast TV viewing and now has added ownership stakes in distribution as well.",
    "output": "[Cause] its dominant share of broadcast TV viewing [Relation] enable [Effect] Televisa has been allowed to build a content empire",
    "gold": "[Cause] its dominant share of broadcast TV viewing [Relation] enable [Effect] Televisa has been allowed to build a content empire",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Televisa has been allowed to build a content empire thanks to its dominant share of broadcast TV viewing and now has added ownership stakes in distribution as well.",
    "output": "[Cause] added ownership stakes in distribution [Relation] enable [Effect] Televisa has been allowed to build a content empire",
    "gold": "[Cause] its dominant share of broadcast TV viewing [Relation] enable [Effect] added ownership stakes in distribution as well",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect to see bill rates come down significantly over the next couple of quarters as slowing economic conditions will prevent Robert Half from commanding price increases.",
    "output": "[Cause] slowing economic conditions [Relation] prevent [Effect] Robert Half from commanding price increases",
    "gold": "[Cause]  prevent Robert Half from commanding price increases [Relation] cause [Effect] bill rates come down significantly over the next couple of quarters",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "On a more positive note, COVID-19 has given Harley the opportunity to press the reset button on its long-term strategy and refocus efforts back on its core consumer, one which we believe holds the key to higher profit margins ahead (even with lower shipment potential).",
    "output": "[Cause] COVID-19 has given Harley the opportunity to press the reset button on its long-term strategy and refocus efforts back on its core consumer [Relation] enable [Effect] higher profit margins ahead",
    "gold": "[Cause] COVID-19 has given Harley the opportunity to press the reset button on its long-term strategy and refocus efforts back on its core consumer [Relation] enable [Effect] higher profit margins ahead",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm has invested in greater automation and systems that can decrease the number of employees involved in sorting and running the tests.",
    "output": "[Cause] The firm has invested in greater automation and systems [Relation] enable [Effect] decrease the number of employees involved in sorting and running the tests",
    "gold": "[Cause] The firm has invested in greater automation and systems [Relation] enable [Effect] decrease the number of employees involved in sorting and running the tests",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Accenture has high service reviews on its more mundane outsourcing services, which we believe to work in favor of Accenture when clients decide on consultants.",
    "output": "[Cause] Accenture has high service reviews on its more mundane outsourcing services [Relation] enable [Effect] work in favor of Accenture when clients decide on consultants",
    "gold": "[Cause] Accenture has high service reviews on its more mundane outsourcing services [Relation] enable [Effect] work in favor of Accenture when clients decide on consultants",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Longer term, we forecast the 2030 operating margin to reach nearly 6%. This improvement is primarily supported by gross margin gains (which reach 37.3%, below the 38%-plus corporate goal) from a greater focus on private label, including the introduction of 10 new owned brands.",
    "output": "[Cause] gross margin gains (which reach 37.3%, below the 38%-plus corporate goal) from a greater focus on private label, including the introduction of 10 new owned brands [Relation] enable [Effect] Longer term, we forecast the 2030 operating margin to reach nearly 6%",
    "gold": "[Cause] gross margin gains (which reach 37.3%, below the 38%-plus corporate goal) from a greater focus on private label, including the introduction of 10 new owned brands [Relation] cause [Effect] Longer term, we forecast the 2030 operating margin to reach nearly 6%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further sluggishness at the start of fiscal 2020 and the COVID-19 pandemic caused revenue to fall another 5% in fiscal 2020.We anticipate a snap back in chip orders with revenue rising 17% in fiscal 2021, 4% in fiscal 2022 and growing at an average midcycle rate of 6% thereafter.",
    "output": "[Cause] Further sluggishness at the start of fiscal 2020 and the COVID-19 pandemic [Relation] cause [Effect] revenue to fall another 5% in fiscal 2020",
    "gold": "[Cause] Further sluggishness at the start of fiscal 2020 and the COVID-19 pandemic [Relation] cause [Effect] revenue to fall another 5% in fiscal 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the transportation and industrials segment, DuPont should benefit from automakers replacing small metal pieces with lighter plastics, a trend that should continue as automakers move toward more lightweight vehicles.",
    "output": "[Cause] automakers move toward more lightweight vehicles [Relation] cause [Effect] DuPont should benefit from automakers replacing small metal pieces with lighter plastics",
    "gold": "[Cause] automakers move toward more lightweight vehicles [Relation] cause [Effect] a trend that should continue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, that the largest players should continue to gain market share as smaller competitors struggle with commodity component costs, like potential DRAM price fluctuations, and that the PC market will remain highly cost completive between Lenovo, Dell, and HP.",
    "output": "[Cause] smaller competitors struggle with commodity component costs [Relation] cause [Effect] the largest players should continue to gain market share",
    "gold": "[Cause] with commodity component costs [Relation] cause [Effect]  smaller competitors struggle",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect the government to offer relatively generous fiscal terms to induce more rapid development, making the potential returns for Apache competitive with or perhaps better than what it can earn in the Permian or Egypt.",
    "output": "[Cause] the government to offer relatively generous fiscal terms [Relation] enable [Effect] induce more rapid development",
    "gold": "[Cause] the government to offer relatively generous fiscal terms to induce more rapid development [Relation] enable [Effect] making the potential returns for Apache competitive with or perhaps better than what it can earn in the Permian or Egypt",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Plus, we think that Ansys' leadership in the industry is well protected for the road ahead thanks largely to the significant switching costs involved in retraining a team of engineers on extremely complex simulation software with critical consequences in the case of improper use.",
    "output": "[Cause] the significant switching costs involved in retraining a team of engineers on extremely complex simulation software with critical consequences in the case of improper use [Relation] cause [Effect] Ansys' leadership in the industry is well protected for the road ahead",
    "gold": "[Cause] the significant switching costs involved in retraining a team of engineers on extremely complex simulation software with critical consequences in the case of improper use [Relation] enable [Effect] Ansys' leadership in the industry is well protected for the road ahead",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect TC Energy to meet 5%% annual dividend growth for the next five years, driven by a healthy pipeline of growth opportunities.",
    "output": "[Cause] a healthy pipeline of growth opportunities [Relation] enable [Effect] TC Energy to meet 5%% annual dividend growth for the next five years",
    "gold": "[Cause] a healthy pipeline of growth opportunities [Relation] cause [Effect] TC Energy to meet 5%% annual dividend growth for the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Once an OEM customer and Aptiv initiate the development phase of a vehicle program, OEM switching costs quickly begin to accrue, especially when a complex, highly engineered, critical vehicular system is being supplied.",
    "output": "[Cause] an OEM customer and Aptiv initiate the development phase of a vehicle program [Relation] cause [Effect] OEM switching costs quickly begin to accrue",
    "gold": "[Cause]  an OEM customer and Aptiv initiate the development phase of a vehicle program [Relation] cause [Effect] OEM switching costs quickly begin to accrue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the company's recent $11 billion acquisition of Ellie Mae that gives Intercontinental Exchange material exposure to the mortgage technology industry along with the operating leverage inherent in the company's business model, we are increasing our uncertainty rating for the company to high from medium.",
    "output": "[Cause] the company's recent $11 billion acquisition of Ellie Mae [Relation] cause [Effect] Intercontinental Exchange material exposure to the mortgage technology industry",
    "gold": "[Cause]  the company's recent $11 billion acquisition of Ellie Mae [Relation] enable [Effect]  Intercontinental Exchange material exposure to the mortgage technology industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the company's recent $11 billion acquisition of Ellie Mae that gives Intercontinental Exchange material exposure to the mortgage technology industry along with the operating leverage inherent in the company's business model, we are increasing our uncertainty rating for the company to high from medium.",
    "output": "[Cause] the operating leverage inherent in the company's business model [Relation] cause [Effect] increasing our uncertainty rating for the company to high from medium",
    "gold": "[Cause]  the operating leverage inherent in the company's business model [Relation] cause [Effect]  increasing our uncertainty rating for the company to high from medium",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the near term, with medical and dental procedures still running below prepandemic levels, we expect Cantel to continue reporting below-trend sales growth.",
    "output": "[Cause] medical and dental procedures still running below prepandemic levels [Relation] cause [Effect] Cantel to continue reporting below-trend sales growth",
    "gold": "[Cause] medical and dental procedures still running below prepandemic levels [Relation] enable [Effect] Cantel to continue reporting below-trend sales growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As users become accustomed with programming FPGAs from a particular vendor, they often remain customers because of the familiarity gained with the software and design tools used.",
    "output": "[Cause] the familiarity gained with the software and design tools used [Relation] cause [Effect] they often remain customers",
    "gold": "[Cause] users become accustomed with programming FPGAs from a particular vendor [Relation] enable [Effect]  they often remain customers because of the familiarity gained with the software and design tools used",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect Abbott can partially close the operating margin gap and project 430 basis points of improvement by 2025, as the firm leverages the distribution infrastructure it has built out for penetration of emerging markets across its product segments and extracts cost synergies from its recent acquisitions.",
    "output": "[Cause] the firm leverages the distribution infrastructure it has built out for penetration of emerging markets across its product segments and extracts cost synergies from its recent acquisitions [Relation] cause [Effect] Abbott can partially close the operating margin gap and project 430 basis points of improvement by 2025",
    "gold": "[Cause] the firm leverages the distribution infrastructure it has built out for penetration of emerging markets across its product segments and extracts cost synergies from its recent acquisitions [Relation] cause [Effect] Abbott can partially close the operating margin gap and project 430 basis points of improvement by 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As NRG's retail business continues to expand in regions where it has substantial generation, it might be able to establish a low-cost advantage in the retail markets.",
    "output": "[Cause] As NRG's retail business continues to expand in regions where it has substantial generation [Relation] enable [Effect] establish a low-cost advantage in the retail markets",
    "gold": "[Cause] As NRG's retail business continues to expand in regions where it has substantial generation [Relation] enable [Effect] establish a low-cost advantage in the retail markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Operating margins will likely be largely flat with some support from the rollout of various strategic partnerships and cost savings initiatives.",
    "output": "[Cause] some support from the rollout of various strategic partnerships and cost savings initiatives [Relation] cause [Effect] Operating margins will likely be largely flat",
    "gold": "[Cause] Operating margins will likely be largely flat with some support from the rollout of various strategic partnerships [Relation] cause [Effect] cost savings initiatives",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given Ferguson's core customers are contractors that value its branch offerings, we see little disruption from online retailers aiming to disrupt Ferguson's branch model.",
    "output": "[Cause] Ferguson's core customers are contractors that value its branch offerings [Relation] cause [Effect] we see little disruption from online retailers aiming to disrupt Ferguson's branch model",
    "gold": "[Cause] Ferguson's core customers are contractors that value its branch offerings [Relation] cause [Effect] we see little disruption from online retailers aiming to disrupt Ferguson's branch model",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Approximately 87% of Con Ed's revenue is subject to revenue decoupling mechanisms that will likely shield the company from most of the COVID-19 earnings impact from lower electricity sales.",
    "output": "[Cause] Approximately 87% of Con Ed's revenue is subject to revenue decoupling mechanisms [Relation] enable [Effect] shield the company from most of the COVID-19 earnings impact from lower electricity sales",
    "gold": "[Cause] Approximately 87% of Con Ed's revenue is subject to revenue decoupling mechanisms [Relation] enable [Effect]  shield the company from most of the COVID-19 earnings impact from lower electricity sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Along the same lines, if OCC prices fall further, the relative cost position of manufacturers with a higher recycled mix would improve.",
    "output": "[Cause] OCC prices fall further [Relation] cause [Effect] the relative cost position of manufacturers with a higher recycled mix would improve",
    "gold": "[Cause] OCC prices fall further [Relation] enable [Effect] the relative cost position of manufacturers with a higher recycled mix would improve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we believe that Ericsson stands to benefit from CSPs building out 5G networks, the company also faces challenges as 4G networks become commonplace within highly cost sensitive geographies.",
    "output": "[Cause] 4G networks become commonplace within highly cost sensitive geographies [Relation] cause [Effect] the company also faces challenges",
    "gold": "[Cause] 4G networks become commonplace within highly cost sensitive geographies [Relation] cause [Effect] the company also faces challenges",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We now project 45% revenue growth as COVID-19 has pushed the Olympics into 2021 and lowered our expectations around core ad revenue growth.",
    "output": "[Cause] COVID-19 has pushed the Olympics into 2021 [Relation] cause [Effect] lowered our expectations around core ad revenue growth",
    "gold": "[Cause] COVID-19 has pushed the Olympics into 2021 [Relation] cause [Effect]  lowered our expectations around core ad revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We now project 45% revenue growth as COVID-19 has pushed the Olympics into 2021 and lowered our expectations around core ad revenue growth.",
    "output": "[Cause] COVID-19 has pushed the Olympics into 2021 [Relation] cause [Effect] lowered our expectations around core ad revenue growth",
    "gold": "[Cause]  lowered our expectations around core ad revenue growth [Relation] cause [Effect] We now project 45% revenue growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "PGE will take a brief break from regulatory activity, which is good timing given the pandemic-related economic stress and fallout from 2020 energy trading losses.",
    "output": "[Cause] the pandemic-related economic stress and fallout from 2020 energy trading losses [Relation] cause [Effect] PGE will take a brief break from regulatory activity",
    "gold": "[Cause] the pandemic-related economic stress and fallout from 2020 energy trading losses [Relation] cause [Effect] PGE will take a brief break from regulatory activity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "AMN's ability to provide almost any type of medical worker is also highly attractive to its customers, as they can use one vendor for most of their placement needs.",
    "output": "[Cause] they can use one vendor for most of their placement needs [Relation] cause [Effect] highly attractive to its customers",
    "gold": "[Cause] AMN's ability to provide almost any type of medical worker [Relation] enable [Effect] they can use one vendor for most of their placement needs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "AMN's ability to provide almost any type of medical worker is also highly attractive to its customers, as they can use one vendor for most of their placement needs.",
    "output": "[Cause] they can use one vendor for most of their placement needs [Relation] cause [Effect] highly attractive to its customers",
    "gold": "[Cause] they can use one vendor for most of their placement needs [Relation] enable [Effect] highly attractive to its customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There has likewise been an increased effort to set up electronic feeds from larger scale outside providers, thus reducing friction and costs for both CoStar and its data providers.",
    "output": "[Cause] an increased effort to set up electronic feeds from larger scale outside providers [Relation] enable [Effect] reducing friction and costs for both CoStar and its data providers",
    "gold": "[Cause] an increased effort to set up electronic feeds from larger scale outside providers [Relation] cause [Effect] reducing friction and costs for both CoStar and its data providers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "COVID-19 for dealers, in our view, is accelerating digital changes and related expense reductions that would have taken place over several years into just a few months of 2020.",
    "output": "[Cause] COVID-19 for dealers [Relation] cause [Effect] accelerating digital changes and related expense reductions",
    "gold": "[Cause] COVID-19 for dealers [Relation] cause [Effect] accelerating digital changes and related expense reductions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While fiscal 2020 sales declined 4.5%, hindered by supply chain disruption from COVID-19, we forecast the restoration of sales growth in fiscal 2021.",
    "output": "[Cause] supply chain disruption from COVID-19 [Relation] cause [Effect] fiscal 2020 sales declined 4.5%",
    "gold": "[Cause] supply chain disruption from COVID-19 [Relation] cause [Effect]  fiscal 2020 sales declined 4.5%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although there are several manufacturers for carbon fiber, the products are procured on a sole-source basis and are not easily interchangeable due to both the certification process required for most of the company's products and product heterogeneity.",
    "output": "[Cause] both the certification process required for most of the company's products and product heterogeneity [Relation] cause [Effect] the products are procured on a sole-source basis and are not easily interchangeable",
    "gold": "[Cause] both the certification process required for most of the company's products and product heterogeneity [Relation] cause [Effect] the products are procured on a sole-source basis and are not easily interchangeable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, that regulatory goodwill appears to be gone after regulators imposed a 90-basis-point cut in its allowed ROE and $30 million of customer rate credits related to what regulators ruled was an inadequate storm response.",
    "output": "[Cause] regulators imposed a 90-basis-point cut in its allowed ROE and $30 million of customer rate credits related to what regulators ruled was an inadequate storm response [Relation] cause [Effect] regulatory goodwill appears to be gone",
    "gold": "[Cause] regulators imposed a 90-basis-point cut in its allowed ROE and $30 million of customer rate credits [Relation] prevent [Effect] that regulatory goodwill",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With its unrivaled scale and breadth of product offerings, the company is an attractive partner to global hospitality and food-service firms.",
    "output": "[Cause] its unrivaled scale and breadth of product offerings [Relation] enable [Effect] the company is an attractive partner to global hospitality and food-service firms",
    "gold": "[Cause] its unrivaled scale and breadth of product offerings [Relation] cause [Effect] the company is an attractive partner to global hospitality and food-service firms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With more than two thirds of the company's annual revenue derived from management fees earned on its AUM, dramatic market movements and/or changes in fund flows can have a meaningful impact on revenue and profitability.",
    "output": "[Cause] dramatic market movements and/or changes in fund flows [Relation] enable [Effect] have a meaningful impact on revenue and profitability",
    "gold": "[Cause]  more than two thirds of the company's annual revenue derived from management fees earned on its AUM [Relation] cause [Effect] dramatic market movements and/or changes in fund flows can have a meaningful impact on revenue and profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Intermodal saw first-half 2020 volume headwinds from COVID-19 disruption and depressed rates in the competing truckload industry but has since rebounded nicely on robust retailer restocking and tight truckload market capacity (rising truck-to-rail conversions), and we still see it as a key long-term growth opportunity for CSX.",
    "output": "[Cause] robust retailer restocking and tight truckload market capacity (rising truck-to-rail conversions) [Relation] enable [Effect] rebounded nicely",
    "gold": "[Cause] rebounded nicely on robust retailer restocking and tight truckload market capacity (rising truck-to-rail conversions), and we still see it as a key long-term growth opportunity for CSX. [Relation] cause [Effect] Intermodal saw first-half 2020 volume headwinds from COVID-19 disruption and depressed rates in the competing truckload industry",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, data security is a risk factor for forwarders, in that a major cyberattack could disrupt air and ocean shipment/transaction visibility and service levels.",
    "output": "[Cause] a major cyberattack could disrupt air and ocean shipment/transaction visibility and service levels [Relation] cause [Effect] data security is a risk factor for forwarders",
    "gold": "[Cause] a major cyberattack could disrupt air and ocean shipment/transaction visibility and service levels [Relation] enable [Effect] data security is a risk factor for forwarders",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect margins to improve significantly over time, and project adjusted EBITDA margins to increase from 41% in 2019 to 47% by 2024. This increase is mostly the result of the sizable synergies from the merger, and a fall-off in amortization expense over time.",
    "output": "[Cause] the sizable synergies from the merger, and a fall-off in amortization expense over time [Relation] cause [Effect] margins to improve significantly over time, and project adjusted EBITDA margins to increase from 41% in 2019 to 47% by 2024",
    "gold": "[Cause]  the sizable synergies from the merger, and a fall-off in amortization expense over time [Relation] cause [Effect]  margins to improve significantly over time, and project adjusted EBITDA margins to increase from 41% in 2019 to 47% by 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If Synopsys did raise prices, it is possible that the large business would switch to a different vendor, thus affecting revenue.",
    "output": "[Cause] Synopsys did raise prices [Relation] cause [Effect] the large business would switch to a different vendor",
    "gold": "[Cause] Synopsys did raise prices [Relation] cause [Effect] the large business would switch to a different vendor",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If Synopsys did raise prices, it is possible that the large business would switch to a different vendor, thus affecting revenue.",
    "output": "[Cause] the large business would switch to a different vendor [Relation] cause [Effect] affecting revenue",
    "gold": "[Cause] the large business would switch to a different vendor [Relation] cause [Effect] affecting revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think revenue growth will average around 6% through 2023, excluding the effects of COVID-19, as rapid adoption of RFID technology supplements relatively slow growth in retail branding and apparel embellishments.",
    "output": "[Cause] rapid adoption of RFID technology supplements relatively slow growth in retail branding and apparel embellishments [Relation] cause [Effect] revenue growth will average around 6% through 2023, excluding the effects of COVID-19",
    "gold": "[Cause] rapid adoption of RFID technology supplements relatively slow growth in retail branding and apparel embellishments [Relation] cause [Effect] We think revenue growth will average around 6% through 2023",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect underwriting results in commercial lines to be weak in the near term as management works past its social inflation issues and deals with coronavirus-related claims, but to trend toward the middle of the company's historical range over time.",
    "output": "[Cause] management works past its social inflation issues and deals with coronavirus-related claims [Relation] cause [Effect] underwriting results in commercial lines to be weak in the near term",
    "gold": "[Cause] management works past its social inflation issues and deals with coronavirus-related claims [Relation] cause [Effect] underwriting results in commercial lines to be weak in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The most substantial risk we see is declining investment in mining capital expenditures, given Caterpillar's exposure to coal, iron ore, copper, and gold.",
    "output": "[Cause] Caterpillar's exposure to coal, iron ore, copper, and gold [Relation] cause [Effect] The most substantial risk we see is declining investment in mining capital expenditures",
    "gold": "[Cause] Caterpillar's exposure to coal, iron ore, copper, and gold [Relation] cause [Effect] The most substantial risk we see is declining investment in mining capital expenditures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, the company's efforts to launch a consumer business surrounding its Cash App could fail, and payment platforms tend to exhibit winner-take-all dynamics, which could leave Square's platform sputtering if it is not a long-term leader.",
    "output": "[Cause] the company's efforts to launch a consumer business surrounding its Cash App could fail, and payment platforms tend to exhibit winner-take-all dynamics [Relation] cause [Effect] leave Square's platform sputtering if it is not a long-term leader",
    "gold": "[Cause] if it is not a long-term leader [Relation] cause [Effect] leave Square's platform sputtering",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These firms may have incentive to bring the production of dispensing equipment in-house to force generic manufacturers to leap over additional hurdles when bringing comparable products to market.",
    "output": "[Cause] These firms may have incentive to bring the production of dispensing equipment in-house [Relation] enable [Effect] force generic manufacturers to leap over additional hurdles when bringing comparable products to market",
    "gold": "[Cause] These firms may have incentive to bring the production of dispensing equipment in-house [Relation] cause [Effect] force generic manufacturers to leap over additional hurdles when bringing comparable products to market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Some of this growth is predicated on the completion of Foxconn's large Wisconsin expansion, which has been beset by political noise.",
    "output": "[Cause] the completion of Foxconn's large Wisconsin expansion [Relation] cause [Effect] Some of this growth",
    "gold": "[Cause] Some of this growth is predicated on the completion of Foxconn's large Wisconsin expansion [Relation] cause [Effect] has been beset by political noise",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After accounting for the profit split with partner Pfizer, we expect BioNTech to book a gross profit of EUR 4 billion in 2021 and EUR 1.4 billion in 2022 from Comirnaty. This assumes total global Comirnaty sales of $13 billion in 2021 and $6 billion in 2022, with first-time vaccinations accounting for nearly all 2021 sales and third-dose boosters accounting for two thirds of 2022 sales.",
    "output": "[Cause] After accounting for the profit split with partner Pfizer, we expect BioNTech to book a gross profit of EUR 4 billion in 2021 and EUR 1.4 billion in 2022 from Comirnaty [Relation] cause [Effect] assumes total global Comirnaty sales of $13 billion in 2021 and $6 billion in 2022, with first-time vaccinations accounting for nearly all 2021 sales and third-dose boosters accounting for two thirds of 2022 sales",
    "gold": "[Cause] This assumes total global Comirnaty sales of $13 billion in 2021 and $6 billion in 2022, with first-time vaccinations accounting for nearly all 2021 sales and third-dose boosters accounting for two thirds of 2022 sales [Relation] cause [Effect] After accounting for the profit split with partner Pfizer, we expect BioNTech to book a gross profit of EUR 4 billion in 2021 and EUR 1.4 billion in 2022 from Comirnaty",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, Garmin bears the risk of displacement in the aviation and marine navigation markets if modernization regulation to come favor the capabilities of a competitor's avionics or marine electronics more so than Garmin's.",
    "output": "[Cause] modernization regulation to come favor the capabilities of a competitor's avionics or marine electronics more so than Garmin's [Relation] cause [Effect] Garmin bears the risk of displacement in the aviation and marine navigation markets",
    "gold": "[Cause] modernization regulation to come favor the capabilities of a competitor's avionics or marine electronics more so than Garmin's [Relation] cause [Effect] Garmin bears the risk of displacement in the aviation and marine navigation markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We support its recent moves to introduce a rapidly changing nonconsumable assortment, providing a treasure-hunt experience that helps drive traffic in a way that we believe is difficult for online-only retailers to replicate.",
    "output": "[Cause] We support its recent moves to introduce a rapidly changing nonconsumable assortment [Relation] enable [Effect] providing a treasure-hunt experience that helps drive traffic in a way that we believe is difficult for online-only retailers to replicate",
    "gold": "[Cause] we believe is difficult for online-only retailers to replicate [Relation] enable [Effect] We support its recent moves to introduce a rapidly changing nonconsumable assortment, providing a treasure-hunt experience that helps drive traffic",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This sustained level of R&D spending also allows Ametek to take price greater than inflation (positive price inflation spread typically hovers in the 20- to 30-basis-point range), which is somewhat exceptional.",
    "output": "[Cause] This sustained level of R&D spending also allows Ametek to take price greater than inflation (positive price inflation spread typically hovers in the 20- to 30-basis-point range) [Relation] enable [Effect] which is somewhat exceptional",
    "gold": "[Cause] This sustained level of R&D spending also allows Ametek to take price greater than inflation (positive price inflation spread typically hovers in the 20- to 30-basis-point range) [Relation] cause [Effect] which is somewhat exceptional",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite these competitive pressures, Fastenal's superior scale has allowed the firm to earn excess returns (20-year average ROIC is approximately 25%), and we expect it will maintain its competitive advantages over at least the next 20 years.",
    "output": "[Cause] Fastenal's superior scale [Relation] enable [Effect] the firm to earn excess returns",
    "gold": "[Cause] allowed the firm to earn excess returns [Relation] enable [Effect] it will maintain its competitive advantages over at least the next 20 years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Last, as the number of ratings increases, the value of ratings research subscriptions sold to buy-side investors increases as well.",
    "output": "[Cause] the number of ratings increases [Relation] cause [Effect] the value of ratings research subscriptions sold to buy-side investors increases as well",
    "gold": "[Cause] the number of ratings increases [Relation] cause [Effect] the value of ratings research subscriptions sold to buy-side investors increases as well",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In a relatively benign growth environment, Compass has managed to drive impressive growth rates far in excess of GDP growth rates, primarily through new business wins added to incremental sales growth at existing sites.",
    "output": "[Cause] new business wins added to incremental sales growth at existing sites [Relation] enable [Effect] Compass has managed to drive impressive growth rates far in excess of GDP growth rates",
    "gold": "[Cause] new business wins added to incremental sales growth at existing sites [Relation] enable [Effect] Compass has managed to drive impressive growth rates far in excess of GDP growth rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Application development platforms are sticky in that they serve as the core platform on which businesses and processes are built, and switching could be highly disruptive and expensive for developers.",
    "output": "[Cause] they serve as the core platform on which businesses and processes are built, and switching could be highly disruptive and expensive for developers [Relation] cause [Effect] Application development platforms are sticky",
    "gold": "[Cause] they serve as the core platform on which businesses and processes are built, and switching could be highly disruptive and expensive for developers [Relation] enable [Effect] Application development platforms are sticky",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Huaneng's power plants are mostly located in eastern and southern China, which are China's most economically developed regions, with sustainable and robust power demand.",
    "output": "[Cause] Huaneng's power plants are mostly located in eastern and southern China [Relation] enable [Effect] China's most economically developed regions, with sustainable and robust power demand",
    "gold": "[Cause] eastern and southern China |  are | China's most economically developed regions, with sustainable and robust power demand [Relation] cause [Effect] Huaneng's power plants are mostly located in eastern and southern China",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As Anthem's local market share rises, its negotiating leverage with healthcare suppliers also rises, which can create a virtuous cycle where Anthem attracts even more clients and more providers to its insurance network.",
    "output": "[Cause] Anthem's local market share rises [Relation] cause [Effect] its negotiating leverage with healthcare suppliers also rises",
    "gold": "[Cause] Anthem's local market share rises [Relation] cause [Effect] its negotiating leverage with healthcare suppliers also rises",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Anthem's local market share rises, its negotiating leverage with healthcare suppliers also rises, which can create a virtuous cycle where Anthem attracts even more clients and more providers to its insurance network.",
    "output": "[Cause] its negotiating leverage with healthcare suppliers also rises [Relation] enable [Effect] create a virtuous cycle where Anthem attracts even more clients and more providers to its insurance network",
    "gold": "[Cause] its negotiating leverage with healthcare suppliers also rises [Relation] enable [Effect] create a virtuous cycle where Anthem attracts even more clients and more providers to its insurance network",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A diversified business (communication, financial and technological services) increases the risk of its shares being penalized by the conglomerate discount.",
    "output": "[Cause] A diversified business (communication, financial and technological services) [Relation] cause [Effect] increases the risk of its shares being penalized by the conglomerate discount",
    "gold": "[Cause] A diversified business (communication, financial and technological services) [Relation] enable [Effect] increases the risk of its shares being penalized by the conglomerate discount",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our base scenario assumes that the bank's efficiency ratio eventually declines to about 57% as management realizes operating leverage from infrastructure investments.",
    "output": "[Cause] management realizes operating leverage from infrastructure investments [Relation] cause [Effect] the bank's efficiency ratio eventually declines to about 57%",
    "gold": "[Cause] management realizes operating leverage from infrastructure investments [Relation] cause [Effect]  the bank's efficiency ratio eventually declines to about 57%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, we surmise that a significant portion of Dropbox's content might be stored in lower cost, ''cold storage'' and has contributed to Dropbox's marked improvement in gross margins.",
    "output": "[Cause] a significant portion of Dropbox's content might be stored in lower cost, ''cold storage'' [Relation] cause [Effect] Dropbox's marked improvement in gross margins",
    "gold": "[Cause] a significant portion of Dropbox's content might be stored in lower cost, ''cold storage'' [Relation] enable [Effect] Dropbox's marked improvement in gross margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As national customer accounts gain prominence, Wesco could face gross margin pressure, but these accounts also provide an opportunity for the company to gain market share and increase volume, which should drive better operating leverage and improved operating margins.",
    "output": "[Cause] national customer accounts gain prominence [Relation] cause [Effect] Wesco could face gross margin pressure",
    "gold": "[Cause] national customer accounts gain prominence [Relation] cause [Effect] Wesco could face gross margin pressure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As national customer accounts gain prominence, Wesco could face gross margin pressure, but these accounts also provide an opportunity for the company to gain market share and increase volume, which should drive better operating leverage and improved operating margins.",
    "output": "[Cause] these accounts also provide an opportunity for the company to gain market share and increase volume [Relation] enable [Effect] drive better operating leverage and improved operating margins",
    "gold": "[Cause] these accounts also provide an opportunity for the company to gain market share and increase volume [Relation] cause [Effect] drive better operating leverage and improved operating margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect good CAF results to continue given the low interest rate environment so total CAF income over our five-year forecast period is about 13.5% higher.",
    "output": "[Cause] the low interest rate environment [Relation] cause [Effect] total CAF income over our five-year forecast period is about 13.5% higher",
    "gold": "[Cause] the low interest rate environment [Relation] enable [Effect] total CAF income over our five-year forecast period is about 13.5% higher",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We therefore think such customers will not change their nature once a core Tyler suite has been implemented, and the company will in turn benefit from a similarly long-tail relationship.",
    "output": "[Cause] a core Tyler suite has been implemented [Relation] cause [Effect] customers will not change their nature",
    "gold": "[Cause] a core Tyler suite has been implemented [Relation] enable [Effect] customers will not change their nature",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We therefore think such customers will not change their nature once a core Tyler suite has been implemented, and the company will in turn benefit from a similarly long-tail relationship.",
    "output": "[Cause] a similarly long-tail relationship [Relation] enable [Effect] the company will in turn benefit",
    "gold": "[Cause] customers will not change their nature [Relation] cause [Effect] the company will in turn benefit from a similarly long-tail relationship",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Activision's size and the depth of its franchise slate allow the firm to place larger bets on new IP than many smaller midsize competitors.",
    "output": "[Cause] Activision's size and the depth of its franchise slate [Relation] enable [Effect] the firm to place larger bets on new IP than many smaller midsize competitors",
    "gold": "[Cause] Activision's size and the depth of its franchise slate [Relation] enable [Effect] the firm to place larger bets on new IP than many smaller midsize competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If Oneok can find a suitable exports facility effort to take on, it will have added yet another growth avenue.",
    "output": "[Cause] Oneok can find a suitable exports facility effort to take on [Relation] enable [Effect] added yet another growth avenue",
    "gold": "[Cause] Oneok can find a suitable exports facility effort to take on [Relation] enable [Effect] added yet another growth avenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Airlines have a long history of irrational competition, due to low entry barriers and high exit barriers in the industry and a price-sensitive customer.",
    "output": "[Cause] low entry barriers and high exit barriers in the industry and a price-sensitive customer [Relation] cause [Effect] Airlines have a long history of irrational competition",
    "gold": "[Cause] low entry barriers and high exit barriers in the industry and a price-sensitive customer [Relation] cause [Effect] Airlines have a long history of irrational competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, upon a fresh look, we are more comfortable that Norfolk's uncertainty is only modestly higher than western rail Union Pacific, and a medium rating is more appropriate.",
    "output": "[Cause] Norfolk's uncertainty is only modestly higher than western rail Union Pacific [Relation] cause [Effect] a medium rating is more appropriate",
    "gold": "[Cause] Norfolk's uncertainty is only modestly higher than western rail Union Pacific [Relation] cause [Effect] a medium rating is more appropriate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project the margin to expand about 100 basis points between 2021 and 2024, as the firm fully integrates its acquisitions and the revenue credits associated with them and takes advantage of cost deflation.",
    "output": "[Cause] the firm fully integrates its acquisitions and the revenue credits associated with them and takes advantage of cost deflation [Relation] cause [Effect] the margin to expand about 100 basis points between 2021 and 2024",
    "gold": "[Cause] the firm fully integrates its acquisitions and the revenue credits associated with them and takes advantage of cost deflation [Relation] enable [Effect] the margin to expand about 100 basis points between 2021 and 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of the high value of their assets and their sometimes unique nature (such as yachts or fine art), insurance companies require assessments on the current value of their property, which increases policyholder duration and lowers acquisition costs.",
    "output": "[Cause] the high value of their assets and their sometimes unique nature (such as yachts or fine art) [Relation] cause [Effect] insurance companies require assessments on the current value of their property",
    "gold": "[Cause] the high value of their assets and their sometimes unique nature (such as yachts or fine art) [Relation] cause [Effect] insurance companies require assessments on the current value of their property",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of the high value of their assets and their sometimes unique nature (such as yachts or fine art), insurance companies require assessments on the current value of their property, which increases policyholder duration and lowers acquisition costs.",
    "output": "[Cause] insurance companies require assessments on the current value of their property [Relation] cause [Effect] increases policyholder duration and lowers acquisition costs",
    "gold": "[Cause] insurance companies require assessments on the current value of their property [Relation] cause [Effect] increases policyholder duration and lowers acquisition costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To more clearly orient our thoughts around the term ''''''''high end,'''''''' we utilize a conventional framework which indexes against the highest velocity brand in a particular pack type to define four exhaustive and mutually exclusive beer segments: discount, mainstream, premium, and superpremium.",
    "output": "[Cause] a conventional framework which indexes against the highest velocity brand in a particular pack type [Relation] enable [Effect] define four exhaustive and mutually exclusive beer segments: discount, mainstream, premium, and superpremium",
    "gold": "[Cause] we utilize a conventional framework [Relation] enable [Effect] more clearly orient our thoughts around the term ''''''''high end",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Increasing hybrid or remote work could spur migration to suburban areas, leading to higher new vehicle sales.",
    "output": "[Cause] Increasing hybrid or remote work [Relation] cause [Effect] migration to suburban areas",
    "gold": "[Cause] migration to suburban areas [Relation] cause [Effect] higher new vehicle sales",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Increasing hybrid or remote work could spur migration to suburban areas, leading to higher new vehicle sales.",
    "output": "[Cause] migration to suburban areas [Relation] cause [Effect] higher new vehicle sales",
    "gold": "[Cause] Increasing hybrid  | remote work [Relation] enable [Effect] migration to suburban areas",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, if its service becomes superior because of the open sourcing, we don't see a reason why competitors with bigger customer bases, such as Akamai and the major cloud providers, couldn't take a similar tack.",
    "output": "[Cause] its service becomes superior because of the open sourcing [Relation] cause [Effect] competitors with bigger customer bases, such as Akamai and the major cloud providers, couldn't take a similar tack",
    "gold": "[Cause] bigger customer bases, such as Akamai and the major cloud providers [Relation] cause [Effect] we don't see a reason why competitors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, sanctions put in place that target Russian gas producer Novatek could put at risk the value of Total's recent multi-billion-dollar investments in the country.",
    "output": "[Cause] sanctions put in place [Relation] cause [Effect] put at risk the value of Total's recent multi-billion-dollar investments in the country",
    "gold": "[Cause] target Russian gas producer Novatek [Relation] prevent [Effect] risk the value of Total's recent multi-billion-dollar investments in the country",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although the merchant generation business has not done well, Entergy's regulated utilities are experiencing strong industrial sales growth driven in large part by an industrial boom in the Mississippi Delta region. This will require significant capital investment to service this new load, including the addition of roughly 8,000 MW of new generation capacity with about 50% solar energy.",
    "output": "[Cause] Although the merchant generation business has not done well, Entergy's regulated utilities are experiencing strong industrial sales growth driven in large part by an industrial boom in the Mississippi Delta region [Relation] cause [Effect] require significant capital investment to service this new load, including the addition of roughly 8,000 MW of new generation capacity with about 50% solar energy",
    "gold": "[Cause] significant capital investment to service this new load, including the addition of roughly 8,000 MW of new generation capacity with about 50% solar energy [Relation] enable [Effect] Although the merchant generation business has not done well, Entergy's regulated utilities are experiencing strong industrial sales growth driven in large part by an industrial boom in the Mississippi Delta region",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The financial services segment is doubly exposed, as an economic downturn could lead to fewer units of equipment being financed and increased defaults on contractual obligations, including leases and loans.",
    "output": "[Cause] an economic downturn [Relation] cause [Effect] fewer units of equipment being financed and increased defaults on contractual obligations, including leases and loans",
    "gold": "[Cause] an economic downturn could lead to fewer units of equipment being financed and increased defaults on contractual obligations [Relation] cause [Effect] The financial services segment is doubly exposed",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The $11 billion Pharmasset acquisition, the foundation for Gilead's HCV franchise, allowed Gilead to generate more than $19 billion in HCV revenue in 2015 alone, but Gilead's HCV business has declined steeply since 2016, as competition allowed pharmacy benefit managers like Express Scripts to aggressively negotiate pricing.",
    "output": "[Cause] competition allowed pharmacy benefit managers like Express Scripts to aggressively negotiate pricing [Relation] cause [Effect] Gilead's HCV business has declined steeply since 2016",
    "gold": "[Cause] competition allowed pharmacy benefit managers like Express Scripts to aggressively negotiate pricing [Relation] cause [Effect] Gilead's HCV business has declined steeply since 2016",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of Bank of America's higher investment banking and trading exposures and higher complexity, we assign the firm a high uncertainty rating.",
    "output": "[Cause] Bank of America's higher investment banking and trading exposures and higher complexity [Relation] cause [Effect] we assign the firm a high uncertainty rating",
    "gold": "[Cause] Bank of America's higher investment banking and trading exposures and higher complexity [Relation] cause [Effect] we assign the firm a high uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, Waste Management has made efforts to reduce contamination rates and transition to a fee-for-service model, which should help mitigate these headwinds.",
    "output": "[Cause] Waste Management has made efforts to reduce contamination rates and transition to a fee-for-service model [Relation] enable [Effect] help mitigate these headwinds",
    "gold": "[Cause] Waste Management has made efforts to reduce contamination rates and transition to a fee-for-service model [Relation] cause [Effect] help mitigate these headwinds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, if European Union economic conditions deteriorate on a no-deal Brexit and international trade conflict, consumer demand across the region will be stifled.",
    "output": "[Cause] European Union economic conditions deteriorate on a no-deal Brexit and international trade conflict [Relation] cause [Effect] consumer demand across the region will be stifled",
    "gold": "[Cause] European Union economic conditions deteriorate on a no-deal Brexit and international trade conflict [Relation] cause [Effect] consumer demand across the region will be stifled",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, we believe margin will improve significantly, as a result of reduced discounts, automation, operating leverage, and operational efficiency.",
    "output": "[Cause] reduced discounts, automation, operating leverage, and operational efficiency [Relation] cause [Effect] margin will improve significantly",
    "gold": "[Cause] reduced discounts, automation, operating leverage, and operational efficiency [Relation] cause [Effect] margin will improve significantly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The proximity division's operations also have a cost advantage, underpinned by scale and the implications for its procurement and distribution.",
    "output": "[Cause] underpinned by scale and the implications for its procurement and distribution [Relation] enable [Effect] The proximity division's operations also have a cost advantage",
    "gold": "[Cause] underpinned by scale and the implications for its procurement and distribution [Relation] cause [Effect] The proximity division's operations also have a cost advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, consolidation among Cushman & Wakefield's key competitors also represents a significant risk to the company, since it would make the competitive landscape more difficult for it to operate in.",
    "output": "[Cause] consolidation among Cushman & Wakefield's key competitors [Relation] cause [Effect] a significant risk to the company",
    "gold": "[Cause] consolidation among Cushman & Wakefield's key competitors [Relation] enable [Effect] it would make the competitive landscape more difficult for it to operate in",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect TIM will continue to gradually lose market share in the coming years but that average revenue per customer will also increase as the customer base shifts toward the postpaid market.",
    "output": "[Cause] the customer base shifts toward the postpaid market [Relation] cause [Effect] average revenue per customer will also increase",
    "gold": "[Cause] the customer base shifts toward the postpaid market [Relation] cause [Effect] average revenue per customer will also increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we do not expect Juniper's consolidating operating results to expand due to this market, we do believe partnering with Ericsson is a wise choice in order to further penetrate Juniper products within customer networks.",
    "output": "[Cause] this market [Relation] cause [Effect] we do believe partnering with Ericsson is a wise choice in order to further penetrate Juniper products within customer networks",
    "gold": "[Cause] penetrate Juniper products within customer networks [Relation] enable [Effect] partnering with Ericsson is a wise choice",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We see this advantaged further supported by our view that the company will reinvest proceeds from the planned 2021 $6.25 billion sale of its Vegas assets into its Macao assets, strengthening the brand locally.",
    "output": "[Cause] the company will reinvest proceeds from the planned 2021 $6.25 billion sale of its Vegas assets into its Macao assets [Relation] enable [Effect] strengthening the brand locally",
    "gold": "[Cause] the company will reinvest proceeds from the planned 2021 $6.25 billion sale of its Vegas assets into its Macao assets [Relation] enable [Effect] strengthening the brand locally",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Gildan reported its first quarterly loss in 10 years in the December 2011 quarter due in part to higher cotton prices.",
    "output": "[Cause] higher cotton prices [Relation] cause [Effect] Gildan reported its first quarterly loss in 10 years in the December 2011 quarter",
    "gold": "[Cause] higher cotton prices [Relation] cause [Effect] Gildan reported its first quarterly loss in 10 years in the December 2011 quarter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite operating in a highly competitive market, Roku has grown rapidly over the last five plus years as the firm has benefited from both the secular trend toward more over-the-top viewing and smart TV adoption.",
    "output": "[Cause] the firm has benefited from both the secular trend toward more over-the-top viewing and smart TV adoption [Relation] cause [Effect] Roku has grown rapidly over the last five plus years",
    "gold": "[Cause] the firm has benefited from both the secular trend toward more over-the-top viewing and smart TV adoption [Relation] cause [Effect] Roku has grown rapidly over the last five plus years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume that the pandemic tamps down conversion of new patients from multiple daily injections but that the majority of patients currently on Omnipod will stay on the therapy, which translates into average annual revenue growth of 21% through 2024.",
    "output": "[Cause] the pandemic [Relation] prevent [Effect] conversion of new patients from multiple daily injections",
    "gold": "[Cause] the pandemic [Relation] prevent [Effect] conversion of new patients from multiple daily injections",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For the player segment, we expect anemic growth along with ongoing hardware upgrades will keep the segment gross margin in the single digits for the next 10 years.",
    "output": "[Cause] anemic growth along with ongoing hardware upgrades [Relation] enable [Effect] keep the segment gross margin in the single digits for the next 10 years",
    "gold": "[Cause] anemic growth along with ongoing hardware upgrades [Relation] cause [Effect] keep the segment gross margin in the single digits for the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, Uber's ride-sharing network effect can also help the firm tap into other markets and generate additional revenue streams.",
    "output": "[Cause] Uber's ride-sharing network effect [Relation] enable [Effect] the firm tap into other markets and generate additional revenue streams",
    "gold": "[Cause] Uber's ride-sharing network effect [Relation] enable [Effect] the firm tap into other markets and generate additional revenue streams",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, OSB can easily be replaced with plywood, which makes pricing dependent on capacity-expansion behavior throughout the broader structural panel space.",
    "output": "[Cause] OSB can easily be replaced with plywood [Relation] cause [Effect] pricing dependent on capacity-expansion behavior throughout the broader structural panel space",
    "gold": "[Cause] OSB can easily be replaced with plywood [Relation] cause [Effect] pricing dependent on capacity-expansion behavior throughout the broader structural panel space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Debt/EBITDA is 3.5 times at the moment, though we expect this to increase to 3.6 times in 2021 as earnings decline.",
    "output": "[Cause] earnings decline [Relation] cause [Effect] increase to 3.6 times in 2021",
    "gold": "[Cause] earnings decline [Relation] cause [Effect] increase to 3.6 times in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In some cases, particularly spacecraft, it is prohibitively difficult to repair a subcomponent, which makes customers reluctant to switch to an untested supplier.",
    "output": "[Cause] prohibitively difficult to repair a subcomponent [Relation] cause [Effect] customers reluctant to switch to an untested supplier",
    "gold": "[Cause]  prohibitively difficult to repair a subcomponent [Relation] cause [Effect]  customers reluctant to switch to an untested supplier",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As consumers change their habits from shopping in physical stores to shopping online, the demand for retail space will shrink and many stores and malls are likely to go away.",
    "output": "[Cause] consumers change their habits from shopping in physical stores to shopping online [Relation] cause [Effect] the demand for retail space will shrink and many stores and malls are likely to go away",
    "gold": "[Cause] consumers change their habits from shopping in physical stores to shopping online [Relation] cause [Effect] the demand for retail space will shrink and many stores and malls are likely to go away",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This should drive earnings per share growth over 7% annually following the earnings decline in 2020 due to the abandonment of the Atlantic Coast Pipeline and the sale of most of the assets in the gas transmission and storage segment.",
    "output": "[Cause] the abandonment of the Atlantic Coast Pipeline and the sale of most of the assets in the gas transmission and storage segment [Relation] cause [Effect] This should drive earnings per share growth over 7% annually following the earnings decline in 2020",
    "gold": "[Cause] the abandonment of the Atlantic Coast Pipeline and the sale of most of the assets in the gas transmission and storage segment [Relation] cause [Effect] This should drive earnings per share growth over 7% annually following the earnings decline in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This aligns with management's newly minted long-term targets (launched along with the dissemination of its revised strategic playbook) for 1%-2% organic sales growth and 4%-6% adjusted EPS growth. As such, our longer-term forecast calls for around 2% annual sales growth and operating margins holding in the low 20s.",
    "output": "[Cause] This aligns with management's newly minted long-term targets (launched along with the dissemination of its revised strategic playbook) for 1%-2% organic sales growth and 4%-6% adjusted EPS growth [Relation] cause [Effect] our longer-term forecast calls for around 2% annual sales growth and operating margins holding in the low 20s",
    "gold": "[Cause] This aligns with management's newly minted long-term targets (launched along with the dissemination of its revised strategic playbook) for 1%-2% organic sales growth and 4%-6% adjusted EPS growth [Relation] cause [Effect] our longer-term forecast calls for around 2% annual sales growth and operating margins holding in the low 20s",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast some improvement in PVH's gross margin over the next decade, as we anticipate it increases to 56.0% in the long term from 54.4% in 2019 (assumes low inflation in wages, cotton prices, and other inputs).",
    "output": "[Cause] it increases to 56.0% in the long term from 54.4% in 2019 (assumes low inflation in wages, cotton prices, and other inputs) [Relation] cause [Effect] some improvement in PVH's gross margin over the next decade",
    "gold": "[Cause] it increases to 56.0% in the long term from 54.4% in 2019 (assumes low inflation in wages, cotton prices, and other inputs) [Relation] cause [Effect] some improvement in PVH's gross margin over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Capital costs for new transmission lines are too high and incremental benefits too low to offer sufficient returns on invested capital for two competing transmission owners.",
    "output": "[Cause] Capital costs for new transmission lines are too high and incremental benefits too low [Relation] prevent [Effect] offer sufficient returns on invested capital for two competing transmission owners",
    "gold": "[Cause] Capital costs for new transmission lines are too high and incremental benefits too low [Relation] prevent [Effect]  offer sufficient returns on invested capital for two competing transmission owners",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe CenterPoint will be well positioned to manage its ESG risk, primarily from greenhouse gas emissions, following the divestiture of its midstream investment.",
    "output": "[Cause] greenhouse gas emissions [Relation] cause [Effect] CenterPoint will be well positioned to manage its ESG risk",
    "gold": "[Cause] greenhouse gas emissions [Relation] cause [Effect] CenterPoint will be well positioned to manage its ESG risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our 2020 revenue projection takes into account our estimates of the coronavirus' negative impact on the B2B segment, handset sales and consumers' behavior in emerging markets in the form of postponing upgrades to higher data plans and devices. This results in the group's sales growth, including currency effects, at negative 6%, but we expect the revenues to recover afterward.",
    "output": "[Cause] Our 2020 revenue projection takes into account our estimates of the coronavirus' negative impact on the B2B segment, handset sales and consumers' behavior in emerging markets in the form of postponing upgrades to higher data plans and devices [Relation] cause [Effect] the group's sales growth, including currency effects, at negative 6%, but we expect the revenues to recover afterward",
    "gold": "[Cause] Our 2020 revenue projection takes into account our estimates of the coronavirus' negative impact on the B2B segment, handset sales and consumers' behavior in emerging markets in the form of postponing upgrades to higher data plans and devices [Relation] cause [Effect] the group's sales growth, including currency effects, at negative 6%, but we expect the revenues to recover afterward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The various qualitative programs provided by each insurer's plan can differ as well, creating the potential for differing quality and cost outcomes for stakeholders when switching insurance providers.",
    "output": "[Cause] The various qualitative programs provided by each insurer's plan can differ as well [Relation] cause [Effect] the potential for differing quality and cost outcomes for stakeholders when switching insurance providers",
    "gold": "[Cause] The various qualitative programs provided by each insurer's plan can differ as well [Relation] enable [Effect] the potential for differing quality and cost outcomes for stakeholders when switching insurance providers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Electronic mortgage processing also received a nice boost from COVID-19 and businesses having to go electronic along with the low interest-rate environment that spurred mortgage refinancing.",
    "output": "[Cause] the low interest-rate environment that spurred mortgage refinancing [Relation] cause [Effect] Electronic mortgage processing also received a nice boost from COVID-19 and businesses having to go electronic",
    "gold": "[Cause] COVID-19 and businesses having to go electronic along with the low interest-rate environment [Relation] enable [Effect] Electronic mortgage processing also received a nice boost",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect the field to become more concentrated, as the vast majority of replacement installations and greenfield is expected to go to either Varian or Elekta.",
    "output": "[Cause] the vast majority of replacement installations and greenfield is expected to go to either Varian or Elekta [Relation] cause [Effect] the field to become more concentrated",
    "gold": "[Cause] the vast majority of replacement installations and greenfield is expected to go to either Varian or Elekta [Relation] cause [Effect] the field to become more concentrated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although these implied multiples are slightly above the level that AB InBev has traded at historically, we expect the company to grow at an above-average rate due to volume and mix drivers.",
    "output": "[Cause] volume and mix drivers [Relation] cause [Effect] the company to grow at an above-average rate",
    "gold": "[Cause] volume and mix drivers [Relation] enable [Effect]  the company to grow at an above-average rate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Traditional market risk measurements also do not capture the impact of declining markets on client behavior, where lower client risk appetite typically lead to lower new business inflows.",
    "output": "[Cause] lower client risk appetite [Relation] cause [Effect] lower new business inflows",
    "gold": "[Cause]  lower client risk appetite [Relation] cause [Effect] lower new business inflows",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As VeriSign's top line starts to grow at a faster pace near the back end of its .com agreement, the company will be able to achieve additional operating leverage, reaching 67.1% by 2030.",
    "output": "[Cause] VeriSign's top line starts to grow at a faster pace near the back end of its.com agreement [Relation] enable [Effect] the company will be able to achieve additional operating leverage, reaching 67.1% by 2030",
    "gold": "[Cause] VeriSign's top line starts to grow at a faster pace near the back end of its .com agreement [Relation] cause [Effect]  achieve additional operating leverage, reaching 67.1% by 2030.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Alternatively, customers can come to West with a preset design and contract with West solely on the production side, which generates business in contract manufacturing.",
    "output": "[Cause] customers can come to West with a preset design and contract with West solely on the production side [Relation] enable [Effect] generates business in contract manufacturing",
    "gold": "[Cause] customers can come to West with a preset design and contract with West solely on the production side [Relation] enable [Effect] generates business in contract manufacturing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A MR/CT machine typically lasts 10 years, but its life can be prolonged with some refurbishing to delay capital outlays, a service Philips also offers.",
    "output": "[Cause] some refurbishing to delay capital outlays [Relation] cause [Effect] A MR/CT machine typically lasts 10 years",
    "gold": "[Cause] some refurbishing to delay capital outlays [Relation] cause [Effect] its life can be prolonged",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Utilities - Independent Power ProducersNRG has proved that there are some benefits on a consolidated level by pairing its retail supply business with its wholesale generation in a given region.",
    "output": "[Cause] pairing its retail supply business with its wholesale generation in a given region [Relation] enable [Effect] there are some benefits on a consolidated level",
    "gold": "[Cause]  pairing its retail supply business with its wholesale generation in a given region [Relation] cause [Effect] there are some benefits on a consolidated level",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "All of the acquired networks hold multisport rights, which allow the 21 brands to offer live sports year-round and limits the dependence on the performance of any one team.",
    "output": "[Cause] All of the acquired networks hold multisport rights [Relation] enable [Effect] the 21 brands to offer live sports year-round",
    "gold": "[Cause] All of the acquired networks hold multisport rights [Relation] enable [Effect] the 21 brands to offer live sports year-round",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With occupancy rates likely declining in the future based on tenant turnover, management is left with two more levers to pull for growth: price and square footage.",
    "output": "[Cause] occupancy rates likely declining in the future based on tenant turnover [Relation] cause [Effect] management is left with two more levers to pull for growth",
    "gold": "[Cause] occupancy rates [Relation] cause [Effect] declining in the future based on tenant turnover",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "From a funding cost perspective, the bank benefits from sizable market share in Hong Kong and U.K., as highlighted above, and the strong liquidity and capital position allows the bank to raise wholesale funding at favorable rates.",
    "output": "[Cause] the strong liquidity and capital position [Relation] enable [Effect] the bank to raise wholesale funding at favorable rates",
    "gold": "[Cause] the strong liquidity and capital position [Relation] enable [Effect] the bank to raise wholesale funding at favorable rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the company does not quickly deleverage after debt-funded transactions for any reason, acquisitions could eventually harm its financial flexibility.",
    "output": "[Cause] the company does not quickly deleverage after debt-funded transactions for any reason [Relation] cause [Effect] acquisitions could eventually harm its financial flexibility",
    "gold": "[Cause]  the company does not quickly deleverage after debt-funded transactions for any reason [Relation] cause [Effect] acquisitions could eventually harm its financial flexibility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "High-yielding business travelers are some of the most profitable customers for airlines, and new aircraft demand may be constrained if business travel does not return.",
    "output": "[Cause] business travel does not return [Relation] cause [Effect] new aircraft demand may be constrained",
    "gold": "[Cause]  business travel does not return [Relation] cause [Effect] new aircraft demand may be constrained",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While insulin pumps are not quite equivalent to life-saving devices such as pacemakers or heart valves, problems with product performance could lead to patient injury.",
    "output": "[Cause] problems with product performance [Relation] cause [Effect] patient injury",
    "gold": "[Cause] problems with product performance [Relation] cause [Effect] patient injury",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given high well decline rates, there's constant investment required by the G&P provider to maintain and increase volumes, and if basin production peaks and declines, the G&P assets risk being stranded.",
    "output": "[Cause] basin production peaks and declines [Relation] cause [Effect] the G&P assets risk being stranded",
    "gold": "[Cause] basin production peaks and declines [Relation] cause [Effect] the G&P assets risk being stranded",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It is not outside the realm of possibility that the company fails to generate profits because of operational challenges involved in scaling up pipeline projects.",
    "output": "[Cause] operational challenges involved in scaling up pipeline projects [Relation] cause [Effect] the company fails to generate profits",
    "gold": "[Cause] operational challenges involved in scaling up pipeline projects [Relation] cause [Effect] the company fails to generate profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In a factory, even just one robot or machine going down could halt all production, or a faulty sensor could lead to misassembly of parts, resulting in wasted inputs.",
    "output": "[Cause] a faulty sensor [Relation] cause [Effect] misassembly of parts",
    "gold": "[Cause] In a factory, even just one robot or machine going down [Relation] prevent [Effect]  all production",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In a factory, even just one robot or machine going down could halt all production, or a faulty sensor could lead to misassembly of parts, resulting in wasted inputs.",
    "output": "[Cause] a faulty sensor could lead to misassembly of parts [Relation] cause [Effect] wasted inputs",
    "gold": "[Cause] a faulty sensor could lead to misassembly of parts [Relation] cause [Effect] wasted inputs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, due to COVID-19 and the increasing uncertainty around the economy and the potential downside, we are currently assigning Zions a high uncertainty rating.",
    "output": "[Cause] COVID-19 and the increasing uncertainty around the economy and the potential downside [Relation] cause [Effect] we are currently assigning Zions a high uncertainty rating",
    "gold": "[Cause] COVID-19 and the increasing uncertainty around the economy and the potential downside [Relation] cause [Effect] we are currently assigning Zions a high uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Specialty margins are also more than twice as high as commodity margins, as Ingredion commands more favorable pricing power for its specialty products. Accordingly, the proportion of companywide sales from specialty ingredients has been rising slowly but steadily, reaching 32% in 2020 from only 21% in 2013.",
    "output": "[Cause] Specialty margins are also more than twice as high as commodity margins, as Ingredion commands more favorable pricing power for its specialty products [Relation] cause [Effect] the proportion of companywide sales from specialty ingredients has been rising slowly but steadily, reaching 32% in 2020 from only 21% in 2013",
    "gold": "[Cause] Specialty margins are also more than twice as high as commodity margins, as Ingredion commands more favorable pricing power for its specialty products [Relation] cause [Effect] the proportion of companywide sales from specialty ingredients has been rising slowly but steadily, reaching 32% in 2020 from only 21% in 2013",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While PNC once had some funding cost advantages, these have eroded over time, leaving the bank somewhere in the middle of the pack within our coverage.",
    "output": "[Cause] these have eroded over time [Relation] cause [Effect] the bank somewhere in the middle of the pack within our coverage",
    "gold": "[Cause] these have eroded over time [Relation] cause [Effect] the bank somewhere in the middle of the pack within our coverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From a competitive standpoint we think Telus is in good shape, especially as it has improved its network, but Shaw's new BlueSky TV offering (from Comcast) could be an incremental negative for Telus.",
    "output": "[Cause] Shaw's new BlueSky TV offering (from Comcast) [Relation] cause [Effect] an incremental negative for Telus",
    "gold": "[Cause] Shaw's new BlueSky TV offering (from Comcast) [Relation] cause [Effect] an incremental negative for Telus",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We increased our near- to mid-term average selling price and profit margin assumptions for Toll Brothers to reflect our stronger outlook.",
    "output": "[Cause] We increased our near- to mid-term average selling price and profit margin assumptions for Toll Brothers [Relation] enable [Effect] reflect our stronger outlook",
    "gold": "[Cause] We increased our near- to mid-term average selling price and profit margin assumptions for Toll Brothers [Relation] enable [Effect] reflect our stronger outlook",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After disposing of $700 million in 2019, we project $200 million of dispositions a year at an average cap rate of 5.75% and $100 million-$200 million of acquisitions at 5.25% cap rates as the company looks to recycle lower-quality assets to fund the acquisition of higher-quality assets.",
    "output": "[Cause] the company looks to recycle lower-quality assets to fund the acquisition of higher-quality assets [Relation] cause [Effect] project $200 million of dispositions a year at an average cap rate of 5.75% and $100 million-$200 million of acquisitions at 5.25% cap rates",
    "gold": "[Cause] the company looks to recycle lower-quality assets to fund the acquisition of higher-quality assets [Relation] cause [Effect] project $200 million of dispositions a year at an average cap rate of 5.75% and $100 million-$200 million of acquisitions at 5.25% cap rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a strong operational track record and a national presence, O'Reilly derives significant productivity throughout its infrastructure, with margin growth coming despite increased investments in service and high levels of part availability.",
    "output": "[Cause] a strong operational track record and a national presence [Relation] enable [Effect] O'Reilly derives significant productivity throughout its infrastructure",
    "gold": "[Cause] a strong operational track record and a national presence [Relation] cause [Effect] O'Reilly derives significant productivity throughout its infrastructure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a strong operational track record and a national presence, O'Reilly derives significant productivity throughout its infrastructure, with margin growth coming despite increased investments in service and high levels of part availability.",
    "output": "[Cause] margin growth coming despite increased investments in service and high levels of part availability [Relation] cause [Effect] O'Reilly derives significant productivity throughout its infrastructure",
    "gold": "[Cause] O'Reilly derives significant productivity throughout its infrastructure [Relation] cause [Effect] margin growth coming despite increased investments in service and high levels of part availability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, Sanofi holds a strong position with several vaccines and rare disease drugs that should hold up well as pricing pressures and competition tend to be less severe in these areas.",
    "output": "[Cause] Sanofi holds a strong position with several vaccines and rare disease drugs [Relation] cause [Effect] hold up well as pricing pressures and competition tend to be less severe in these areas",
    "gold": "[Cause] hold up well as pricing pressures [Relation] cause [Effect] Sanofi holds a strong position with several vaccines and rare disease drugs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, users would also see an adverse impact on productivity as many of the analytics and WFO/WEM capabilities being provided by NICE would no longer be available, leading to inefficient work and an inability to effectively service customers.",
    "output": "[Cause] many of the analytics and WFO/WEM capabilities being provided by NICE would no longer be available [Relation] cause [Effect] users would also see an adverse impact on productivity",
    "gold": "[Cause] users | see an adverse impact on productivity [Relation] enable [Effect]  inefficient work and an inability to effectively service customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We aren't optimistic about fixed-line profitability, however, as we expect legacy network maintenance costs will more than offset cost-cutting efforts.",
    "output": "[Cause] legacy network maintenance costs will more than offset cost-cutting efforts [Relation] cause [Effect] We aren't optimistic about fixed-line profitability",
    "gold": "[Cause] legacy network maintenance costs will more than offset cost-cutting efforts [Relation] cause [Effect] We aren't optimistic about fixed-line profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, given the health of Realty Income's tenants, we think the terms of its leases show that the major tenants possess the pricing power in lease negotiations.",
    "output": "[Cause] the health of Realty Income's tenants [Relation] cause [Effect] the terms of its leases show that the major tenants possess the pricing power in lease negotiations",
    "gold": "[Cause]  the health of Realty Income's tenants [Relation] cause [Effect]  the terms of its leases show that the major tenants possess the pricing power in lease negotiations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And we anticipate opportunities for further savings are likely in the cards, particularly within its supply chain and inventory management, which, based on management commentary, is still quite complex (with an astounding 1,300 facilities in its network currently housing inventory).",
    "output": "[Cause] opportunities for further savings are likely in the cards [Relation] cause [Effect] particularly within its supply chain and inventory management",
    "gold": "[Cause] based on management commentary [Relation] cause [Effect] opportunities for further savings are likely in the cards, particularly within its supply chain and inventory management",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, community members often act as a hurdle for self-storage development, as these facilities are viewed more negatively than residential properties or manufacturing facilities that could provide housing and jobs that could increase the surrounding property value.",
    "output": "[Cause] these facilities are viewed more negatively than residential properties or manufacturing facilities that could provide housing and jobs that could increase the surrounding property value [Relation] cause [Effect] community members often act as a hurdle for self-storage development",
    "gold": "[Cause] provide housing and jobs that could increase the surrounding property value. [Relation] enable [Effect]  community members often act as a hurdle for self-storage development, as these facilities are viewed more negatively than residential properties or manufacturing facilities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Since then, Colfax has steadily increased its R&D spending from 0.5% of sales in 2012 to 1.3%, which brings it more in line with its large rivals (1.6% for ITW and 1.8% for Lincoln Electric).",
    "output": "[Cause] Colfax has steadily increased its R&D spending from 0.5% of sales in 2012 to 1.3% [Relation] enable [Effect] brings it more in line with its large rivals",
    "gold": "[Cause] Colfax has steadily increased its R&D spending from 0.5% of sales in 2012 to 1.3% [Relation] cause [Effect] brings it more in line with its large rivals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The COVID-19 pandemic highlights the geopolitical risk airlines face, as many global consumers of air travel are affected by a travel-preventing stay at home orders.",
    "output": "[Cause] many global consumers of air travel are affected by a travel-preventing stay at home orders [Relation] cause [Effect] The COVID-19 pandemic highlights the geopolitical risk airlines face",
    "gold": "[Cause] many global consumers of air travel are affected by a travel-preventing stay at home orders [Relation] cause [Effect] The COVID-19 pandemic highlights the geopolitical risk airlines face",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Using its supply chain buying arm, Domino's effectively consolidates the buying power of its franchise base to achieve competitive pricing while also passing the volatility of commodity prices to the franchisee and insulating corporate level profits.",
    "output": "[Cause] Using its supply chain buying arm [Relation] enable [Effect] Domino's effectively consolidates the buying power of its franchise base",
    "gold": "[Cause] Using its supply chain buying arm [Relation] cause [Effect] Domino's effectively consolidates the buying power of its franchise base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Using its supply chain buying arm, Domino's effectively consolidates the buying power of its franchise base to achieve competitive pricing while also passing the volatility of commodity prices to the franchisee and insulating corporate level profits.",
    "output": "[Cause] Domino's effectively consolidates the buying power of its franchise base [Relation] enable [Effect] achieve competitive pricing while also passing the volatility of commodity prices to the franchisee and insulating corporate level profits",
    "gold": "[Cause] Domino's effectively consolidates the buying power of its franchise base [Relation] cause [Effect] achieve competitive pricing while also passing the volatility of commodity prices to the franchisee and insulating corporate level profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lastly, given the millions of customers Sun Life has, failure to keep personal data secure and private could harm the company.",
    "output": "[Cause] the millions of customers Sun Life has [Relation] cause [Effect] failure to keep personal data secure and private could harm the company",
    "gold": "[Cause] failure to keep personal data secure and private [Relation] cause [Effect] harm the company.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the significantly lower total tax and royalty rate in Argentina versus Chile, we think all lithium producers in Argentina face the risk of higher royalties, especially as president Alberto Fernandez campaigned on a populist platform.",
    "output": "[Cause] the significantly lower total tax and royalty rate in Argentina versus Chile [Relation] cause [Effect] all lithium producers in Argentina face the risk of higher royalties",
    "gold": "[Cause]  the significantly lower total tax and royalty rate in Argentina versus Chile [Relation] cause [Effect] all lithium producers in Argentina face the risk of higher royalties",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Horton's growth trajectory has consistently exceeded our expectations as the firm has successfully leveraged its scale and affordability-focused strategy to gain market share.",
    "output": "[Cause] the firm has successfully leveraged its scale and affordability-focused strategy to gain market share [Relation] cause [Effect] Horton's growth trajectory has consistently exceeded our expectations",
    "gold": "[Cause]  the firm has successfully leveraged its scale and affordability-focused strategy to gain market share [Relation] cause [Effect] Horton's growth trajectory has consistently exceeded our expectations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We would expect Cheniere's marketing operations to be fairly volatile even in a reasonably healthy environment, given the spread-based nature of its business and the substantial volatility in the global LNG market, exposing the firm to potential losses.",
    "output": "[Cause] the spread-based nature of its business and the substantial volatility in the global LNG market [Relation] cause [Effect] Cheniere's marketing operations to be fairly volatile even in a reasonably healthy environment",
    "gold": "[Cause] Cheniere's marketing operations to be fairly volatile even in a reasonably healthy environment [Relation] cause [Effect] the spread-based nature of its business and the substantial volatility in the global LNG market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Tesla's mission is to make EVs increasingly more affordable, which means more assembly plants must come on line to achieve annual unit delivery volume in the millions. This expansion will cost billions a year in capital spending and research and development and will be necessary even during downturns in the economic cycle.",
    "output": "[Cause] Tesla's mission is to make EVs increasingly more affordable, which means more assembly plants must come on line to achieve annual unit delivery volume in the millions [Relation] cause [Effect] cost billions a year in capital spending and research and development and will be necessary even during downturns in the economic cycle",
    "gold": "[Cause] Tesla's mission is to make EVs increasingly more affordable, which means more assembly plants must come on line to achieve annual unit delivery volume in the millions [Relation] cause [Effect] cost billions a year in capital spending and research and development and will be necessary even during downturns in the economic cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It also has a leading market share in chelated and specialized minerals, thanks to its 2016 acquisition of Albion International.",
    "output": "[Cause] its 2016 acquisition of Albion International [Relation] cause [Effect] It also has a leading market share in chelated and specialized minerals",
    "gold": "[Cause] its 2016 acquisition of Albion International [Relation] cause [Effect] It also has a leading market share in chelated and specialized minerals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The threat of trade restrictions never truly disappears, but Mexican manufacturing has substantial cost advantages and the automakers and maquiladoras have invested heavily in capacity.",
    "output": "[Cause] Mexican manufacturing has substantial cost advantages [Relation] cause [Effect] the automakers and maquiladoras have invested heavily in capacity",
    "gold": "[Cause] the automakers and maquiladoras have invested heavily in capacity [Relation] enable [Effect] Mexican manufacturing has substantial cost advantages",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Meanwhile, the Empire State observation deck will continue to see declining visitor numbers, offset somewhat by limited price increases as it struggles to contend with the addition of competing observation decks over the next few years.",
    "output": "[Cause] it struggles to contend with the addition of competing observation decks over the next few years [Relation] cause [Effect] the Empire State observation deck will continue to see declining visitor numbers, offset somewhat by limited price increases",
    "gold": "[Cause] it struggles to contend with the addition of competing observation decks over the next few years [Relation] cause [Effect] the Empire State observation deck will continue to see declining visitor numbers, offset somewhat by limited price increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Therefore, we expect supply will more than offset demand for the next few years, and hotel companies will have difficulty pushing rates to generate significant NOI growth.",
    "output": "[Cause] hotel companies will have difficulty pushing rates [Relation] enable [Effect] generate significant NOI growth",
    "gold": "[Cause] hotel companies will have difficulty pushing rates [Relation] enable [Effect]  generate significant NOI growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With Trikafta's potential approvals abroad and in pediatric patients, we think the eligible patient population reaches about 68,000, or roughly 90% of all CF patients.",
    "output": "[Cause] Trikafta's potential approvals abroad and in pediatric patients [Relation] cause [Effect] the eligible patient population reaches about 68,000, or roughly 90% of all CF patients",
    "gold": "[Cause]  Trikafta's potential approvals abroad and in pediatric patients [Relation] cause [Effect] the eligible patient population reaches about 68,000, or roughly 90% of all CF patients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Shopping at brick-and-mortar locations has fallen during the pandemic and will likely remain suppressed until a vaccine is fully distributed.",
    "output": "[Cause] Shopping at brick-and-mortar locations has fallen during the pandemic [Relation] cause [Effect] remain suppressed until a vaccine is fully distributed",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] Shopping at brick-and-mortar locations has fallen",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In academic and professional learning (36% of fiscal 2020 revenue), we see continued but moderating declines in publishing offsetting growth in courseware, corporate learning, test preparation, and other more advantaged businesses.",
    "output": "[Cause] continued but moderating declines in publishing [Relation] prevent [Effect] growth in courseware, corporate learning, test preparation, and other more advantaged businesses",
    "gold": "[Cause] continued but moderating declines in publishing [Relation] prevent [Effect] growth in courseware, corporate learning, test preparation, and other more advantaged businesses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If hospitals continue to reserve space for COVID-19 patients and ongoing spikes in viral spread drag into 2021, this could hurt Boston for a sustained period.",
    "output": "[Cause] hospitals continue to reserve space for COVID-19 patients and ongoing spikes in viral spread drag into 2021 [Relation] cause [Effect] hurt Boston for a sustained period",
    "gold": "[Cause] hospitals continue to reserve space for COVID-19 patients [Relation] cause [Effect] ongoing spikes in viral spread drag into 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "James famously turned down more money from Reebok to sign with Nike in 2003, ultimately dooming Reebok to irrelevance in basketball shoes.",
    "output": "[Cause] James famously turned down more money from Reebok to sign with Nike in 2003 [Relation] cause [Effect] dooming Reebok to irrelevance in basketball shoes",
    "gold": "[Cause] James famously turned down more money from Reebok to sign with Nike in 2003 [Relation] cause [Effect] dooming Reebok to irrelevance in basketball shoes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The divestment will reduce the firm's direct exposure to the upstream oil and gas end market to less than 2%, thereby reducing overall portfolio volatility.",
    "output": "[Cause] The divestment [Relation] enable [Effect] reduce the firm's direct exposure to the upstream oil and gas end market to less than 2%",
    "gold": "[Cause] The divestment [Relation] cause [Effect] reduce the firm's direct exposure to the upstream oil and gas end market to less than 2%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The divestment will reduce the firm's direct exposure to the upstream oil and gas end market to less than 2%, thereby reducing overall portfolio volatility.",
    "output": "[Cause] The divestment [Relation] enable [Effect] reduce the firm's direct exposure to the upstream oil and gas end market to less than 2%",
    "gold": "[Cause] The divestment | reduce the firm's direct exposure to the upstream oil and gas end market to less than 2% [Relation] cause [Effect] reducing overall portfolio volatility",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For example, Grifols' factor VIII product Alphanate and Talecris' pulmonary product Prolastin lead the market, and Grifols has seen double-digit albumin growth, owing to Chinese demand.",
    "output": "[Cause] Chinese demand [Relation] cause [Effect] Grifols' factor VIII product Alphanate and Talecris' pulmonary product Prolastin lead the market, and Grifols has seen double-digit albumin growth",
    "gold": "[Cause]  Chinese demand [Relation] cause [Effect] Grifols' factor VIII product Alphanate and Talecris' pulmonary product Prolastin lead the market, and Grifols has seen double-digit albumin growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Crack spreads have improved in recent months, , but they remain volatile given the uncertain outlook for product demand in light of the coronavirus pandemic and potential for higher supply from increased utilization and greater imports.",
    "output": "[Cause] the uncertain outlook for product demand in light of the coronavirus pandemic and potential for higher supply from increased utilization and greater imports [Relation] cause [Effect] Crack spreads have improved in recent months, but they remain volatile",
    "gold": "[Cause]  the uncertain outlook for product demand in light of the coronavirus pandemic and potential [Relation] cause [Effect]  higher supply from increased utilization and greater imports",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Longer term, we expect Nutrien to increase production in proportion to global demand growth to maintain its current market share in the high teens.",
    "output": "[Cause] Nutrien to increase production in proportion to global demand growth [Relation] enable [Effect] maintain its current market share in the high teens",
    "gold": "[Cause]  Nutrien to increase production in proportion to global demand growth [Relation] enable [Effect]  maintain its current market share in the high teens",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's advertising profile is particularly salient to us, as this line item is typically the most direct customer acquisition cost for many consumer packaged goods (CPG) businesses.",
    "output": "[Cause] this line item is typically the most direct customer acquisition cost for many consumer packaged goods (CPG) businesses [Relation] cause [Effect] The firm's advertising profile is particularly salient to us",
    "gold": "[Cause] this line item is typically the most direct customer acquisition cost for many consumer packaged goods (CPG) businesses [Relation] cause [Effect] The firm's advertising profile is particularly salient to us",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe 5G spending by carriers and a societal focus on rural broadband can spark some revenue growth, but given the size of the firm's core Windstream lease, moving the needle significantly is very unlikely.",
    "output": "[Cause] 5G spending by carriers and a societal focus on rural broadband [Relation] enable [Effect] spark some revenue growth",
    "gold": "[Cause] 5G spending by carriers and a societal focus on rural broadband [Relation] enable [Effect] spark some revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, we don't believe ICU will return to historical levels of profitability, given its current business mix, as lower-margin capital equipment and IV solutions weigh on gross profitability.",
    "output": "[Cause] its current business mix, as lower-margin capital equipment and IV solutions weigh on gross profitability [Relation] cause [Effect] we don't believe ICU will return to historical levels of profitability",
    "gold": "[Cause] [Relation] cause [Effect] we don't believe ICU will return to historical levels of profitability |  given its current business mix, as lower-margin capital equipment and IV solutions weigh on gross profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We do not see strong evidence of intangible assets in respiratory and urology, with a lack of game-changing innovations in these markets, and we do not have confident that Teleflex will avoid being displaced within these markets over the next 10 years.",
    "output": "[Cause] a lack of game-changing innovations in these markets [Relation] cause [Effect] We do not see strong evidence of intangible assets in respiratory and urology",
    "gold": "[Cause] a lack of game-changing innovations in these markets [Relation] cause [Effect] We do not see strong evidence of intangible assets in respiratory and urology",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We were not expecting an increase in 2021 due to the pandemic, but Hawaiian Electric surprised us with a 3% increase for the 2021 first quarter.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] We were not expecting an increase in 2021",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] We were not expecting an increase in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Similarly, engineers loathe to swap out an analog or MCU from an existing design (again, only to save a few pennies on cost) because of the onerous redesign and retesting costs associated with the switch.",
    "output": "[Cause] the onerous redesign and retesting costs associated with the switch [Relation] cause [Effect] engineers loathe to swap out an analog or MCU from an existing design",
    "gold": "[Cause] the onerous redesign and retesting costs associated with the switch [Relation] cause [Effect] engineers loathe to swap out an analog or MCU from an existing design",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the other businesses (Secureworks, Virtustream, and Boomi) to contribute revenue growth during the same time period due to cloud-based software adoption across IT and security teams.",
    "output": "[Cause] cloud-based software adoption across IT and security teams [Relation] cause [Effect] the other businesses (Secureworks, Virtustream, and Boomi) to contribute revenue growth during the same time period",
    "gold": "[Cause] cloud-based software adoption across IT and security teams [Relation] cause [Effect] the other businesses (Secureworks, Virtustream, and Boomi) to contribute revenue growth during the same time period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nevertheless, we see Monster as a price leader in the energy space owing to its category leadership and believe that any broad price increases across the category are likely to be instigated by either Monster or Red Bull.",
    "output": "[Cause] its category leadership [Relation] cause [Effect] Monster as a price leader in the energy space",
    "gold": "[Cause]  its category leadership [Relation] enable [Effect] Monster as a price leader in the energy space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In response, Oracle is banking on its second-generation cloud to not only cater to its traditional enterprise workloads, like supporting databases, but also general use workloads.",
    "output": "[Cause] Oracle is banking on its second-generation cloud [Relation] enable [Effect] not only cater to its traditional enterprise workloads, like supporting databases, but also general use workloads",
    "gold": "[Cause] Oracle is banking on its second-generation cloud [Relation] enable [Effect] not only cater to its traditional enterprise workloads, like supporting databases, but also general use workloads",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe, however, that a high uncertainty rating is warranted as Nordstrom's ''generational investments'' plan has yet to translate into strong sales growth.",
    "output": "[Cause] Nordstrom's ''generational investments'' plan has yet to translate into strong sales growth [Relation] cause [Effect] a high uncertainty rating is warranted",
    "gold": "[Cause]  Nordstrom's ''generational investments'' plan has yet to translate into strong sales growth [Relation] enable [Effect] a high uncertainty rating is warranted",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the company to garner additional market share from less capable 3PL competitors as supply chains continue to increase in complexity, requiring sophisticated informational expertise and broad, vetted capacity relationships.",
    "output": "[Cause] supply chains continue to increase in complexity [Relation] cause [Effect] the company to garner additional market share from less capable 3PL competitors",
    "gold": "[Cause] supply chains continue to increase in complexity [Relation] cause [Effect] the company to garner additional market share from less capable 3PL competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the company to garner additional market share from less capable 3PL competitors as supply chains continue to increase in complexity, requiring sophisticated informational expertise and broad, vetted capacity relationships.",
    "output": "[Cause] supply chains continue to increase in complexity [Relation] cause [Effect] the company to garner additional market share from less capable 3PL competitors",
    "gold": "[Cause] the company to garner additional market share from less capable 3PL competitors [Relation] cause [Effect] requiring sophisticated informational expertise and broad, vetted capacity relationships",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Concurrently, the taste sensitivity of each player's core consumer is belied by the relative similarity across ingredient formulations. This means that even as market share vacillates at the margin, category leaders can typically maintain volume within a range that is suitable for cost leverage.",
    "output": "[Cause] the taste sensitivity of each player's core consumer is belied by the relative similarity across ingredient formulations [Relation] cause [Effect] even as market share vacillates at the margin, category leaders can typically maintain volume within a range that is suitable for cost leverage",
    "gold": "[Cause] the taste sensitivity of each player's core consumer is belied by the relative similarity across ingredient formulations [Relation] cause [Effect] even as market share vacillates at the margin, category leaders can typically maintain volume within a range that is suitable for cost leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, the firm has established itself as a leader in innovation, spending roughly 4.5% of sales on research and development, nearly three times as much as its competitors.",
    "output": "[Cause] spending roughly 4.5% of sales on research and development [Relation] enable [Effect] the firm has established itself as a leader in innovation",
    "gold": "[Cause] spending roughly 4.5% of sales on research and development [Relation] cause [Effect] the firm has established itself as a leader in innovation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Smiths has a large and growing image library that helps it to more effectively identify objects that could be used to make an explosive device or weapon.",
    "output": "[Cause] Smiths has a large and growing image library [Relation] enable [Effect] helps it to more effectively identify objects that could be used to make an explosive device or weapon",
    "gold": "[Cause] Smiths has a large and growing image library [Relation] enable [Effect] helps it to more effectively identify objects that could be used to make an explosive device or weapon",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, their programmable nature means FPGAs are frequently bigger with higher incremental cost. As a result, applications for FPGAs include military, industrial, automotive, and wireless and wireline communications infrastructure uses that aren't as volume-intensive and require changes on the fly.",
    "output": "[Cause] their programmable nature means FPGAs are frequently bigger with higher incremental cost [Relation] cause [Effect] applications for FPGAs include military, industrial, automotive, and wireless and wireline communications infrastructure uses that aren't as volume-intensive and require changes on the fly",
    "gold": "[Cause] their programmable nature means FPGAs are frequently bigger with higher incremental cost [Relation] cause [Effect] applications for FPGAs include military, industrial, automotive, and wireless and wireline communications infrastructure uses that aren't as volume-intensive and require changes on the fly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thanks to the institutionalization of processes that were inefficient (including labor management, reset efforts, and inventory controls), the operating margin is forecast to reach 12% in 2021, up from 9% in 2019.",
    "output": "[Cause] the institutionalization of processes that were inefficient [Relation] cause [Effect] the operating margin is forecast to reach 12% in 2021, up from 9% in 2019",
    "gold": "[Cause] the institutionalization of processes that were inefficient [Relation] cause [Effect] the operating margin is forecast to reach 12% in 2021, up from 9% in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Intel plans on also outsourcing some of its parts to TSMC, which would seemingly offset AMD's current manufacturing edge.",
    "output": "[Cause] Intel plans on also outsourcing some of its parts to TSMC [Relation] prevent [Effect] AMD's current manufacturing edge",
    "gold": "[Cause] Intel plans on also outsourcing some of its parts to TSMC [Relation] prevent [Effect] AMD's current manufacturing edge",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The global pizza category will become more competitive as existing players attempt to replicate Domino's strategy and as newer fast-casual players continue to expand.",
    "output": "[Cause] existing players attempt to replicate Domino's strategy and as newer fast-casual players continue to expand [Relation] cause [Effect] The global pizza category will become more competitive",
    "gold": "[Cause] existing players attempt to replicate Domino's strategy and as newer fast-casual players continue to expand [Relation] cause [Effect] The global pizza category will become more competitive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the group's refineries do enjoy logistical advantages, as they are located close to customers, have scale benefits, and are relatively complex.",
    "output": "[Cause] they are located close to customers, have scale benefits, and are relatively complex [Relation] cause [Effect] the group's refineries do enjoy logistical advantages",
    "gold": "[Cause] they are located close to customers, have scale benefits, and are relatively complex [Relation] enable [Effect] the group's refineries do enjoy logistical advantages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A corollary of Coke's refranchising is that it has to work doubly hard to ensure its system remains properly incented.",
    "output": "[Cause] it has to work doubly hard [Relation] enable [Effect] ensure its system remains properly incented",
    "gold": "[Cause]  it has to work doubly hard [Relation] enable [Effect]  ensure its system remains properly incented",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, the liquids generally realize a significant discount to the West Texas Intermediate benchmark, meaning EBITDA margins per barrel will be well below the industry average.",
    "output": "[Cause] the liquids generally realize a significant discount to the West Texas Intermediate benchmark [Relation] cause [Effect] EBITDA margins per barrel will be well below the industry average",
    "gold": "[Cause] the liquids generally realize a significant discount to the West Texas Intermediate benchmark [Relation] cause [Effect] EBITDA margins per barrel will be well below the industry average",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect reported sales will rise 10%, while we expect adjusted operating margins will rise 440 basis points due to both operating leverage from volume and continuous improvement initiatives.",
    "output": "[Cause] both operating leverage from volume and continuous improvement initiatives [Relation] cause [Effect] adjusted operating margins will rise 440 basis points",
    "gold": "[Cause] both operating leverage from volume and continuous improvement initiatives [Relation] cause [Effect] adjusted operating margins will rise 440 basis points",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Near-term results are more uncertain than usual, with Walmart set to lap the pandemic's sales surge as the ongoing vaccine rollout stands to bring the crisis to an end and lead Americans' spending to shift back toward categories like restaurants and travel.",
    "output": "[Cause] the ongoing vaccine rollout stands to bring the crisis to an end [Relation] cause [Effect] Walmart set to lap the pandemic's sales surge",
    "gold": "[Cause] Walmart set to lap the pandemic's sales surge [Relation] cause [Effect] Near-term results are more uncertain than usual",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Near-term results are more uncertain than usual, with Walmart set to lap the pandemic's sales surge as the ongoing vaccine rollout stands to bring the crisis to an end and lead Americans' spending to shift back toward categories like restaurants and travel.",
    "output": "[Cause] Walmart set to lap the pandemic's sales surge [Relation] cause [Effect] Americans' spending to shift back toward categories like restaurants and travel",
    "gold": "[Cause] the ongoing vaccine rollout stands to bring the crisis to an end [Relation] cause [Effect] Walmart set to lap the pandemic's sales surge",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Near-term results are more uncertain than usual, with Walmart set to lap the pandemic's sales surge as the ongoing vaccine rollout stands to bring the crisis to an end and lead Americans' spending to shift back toward categories like restaurants and travel.",
    "output": "[Cause] Walmart set to lap the pandemic's sales surge [Relation] cause [Effect] Americans' spending to shift back toward categories like restaurants and travel",
    "gold": "[Cause]  Americans' spending to shift back toward categories like restaurants and travel [Relation] cause [Effect] Walmart set to lap the pandemic's sales surge",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We suspect Coty's undisciplined innovation and marketing programs led to several years of shelf space losses and decreased distribution, as products were not differentiated or superior to competitive products, and did not tout attributes consumers were seeking.",
    "output": "[Cause] products were not differentiated or superior to competitive products [Relation] cause [Effect] several years of shelf space losses and decreased distribution",
    "gold": "[Cause] undisciplined innovation and marketing programs [Relation] cause [Effect] several years of shelf space losses and decreased distribution",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We suspect Coty's undisciplined innovation and marketing programs led to several years of shelf space losses and decreased distribution, as products were not differentiated or superior to competitive products, and did not tout attributes consumers were seeking.",
    "output": "[Cause] products were not differentiated or superior to competitive products, and did not tout attributes consumers were seeking [Relation] cause [Effect] several years of shelf space losses and decreased distribution",
    "gold": "[Cause] products were not differentiated or superior to competitive products, and did not tout attributes consumers were seeking [Relation] cause [Effect] several years of shelf space losses and decreased distribution",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of the benefit of Bank of America's higher investment banking and trading exposures during the latest downturn, we now assign the firm a medium uncertainty rating.",
    "output": "[Cause] the benefit of Bank of America's higher investment banking and trading exposures during the latest downturn [Relation] cause [Effect] we now assign the firm a medium uncertainty rating",
    "gold": "[Cause] the benefit of Bank of America's higher investment banking and trading exposures during the latest downturn [Relation] cause [Effect] we now assign the firm a medium uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the firm lags O'Reilly and AutoZone, Advance's scope has allowed it to mitigate its working capital burden, with accounts payable at 77% of inventory (as of 2019) as vendors agree to generous payment terms for one of the largest parts retailers.",
    "output": "[Cause] Advance's scope [Relation] enable [Effect] mitigate its working capital burden",
    "gold": "[Cause] Advance's scope [Relation] enable [Effect] mitigate its working capital burden",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the firm lags O'Reilly and AutoZone, Advance's scope has allowed it to mitigate its working capital burden, with accounts payable at 77% of inventory (as of 2019) as vendors agree to generous payment terms for one of the largest parts retailers.",
    "output": "[Cause] Advance's scope [Relation] enable [Effect] it to mitigate its working capital burden",
    "gold": "[Cause] vendors agree to generous payment terms for one of the largest parts retailers [Relation] enable [Effect] mitigate its working capital burden",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This would continue to weigh on operating rates, especially in beauty, where volume can be more sensitive to changes in per capita income.",
    "output": "[Cause] volume can be more sensitive to changes in per capita income [Relation] cause [Effect] This would continue to weigh on operating rates",
    "gold": "[Cause] volume can be more sensitive to changes in per capita income [Relation] cause [Effect] This would continue to weigh on operating rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Via forwarders, Splunk extracts data from different sources within a business (be it security, IT, or DevOps) and indexes the data on the fly, enabling rapid data usage for a wide range of uses.",
    "output": "[Cause] Via forwarders, Splunk extracts data from different sources within a business (be it security, IT, or DevOps) and indexes the data on the fly [Relation] enable [Effect] rapid data usage for a wide range of uses",
    "gold": "[Cause] Via forwarders, Splunk extracts data from different sources within a business (be it security, IT, or DevOps) and indexes the data on the fly [Relation] enable [Effect] rapid data usage for a wide range of uses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Many of Philips' products perform critical medical functions that require a significant amount of practitioners' and technicians' training time, so the rationale for an equipment or service change is low.",
    "output": "[Cause] Many of Philips' products perform critical medical functions that require a significant amount of practitioners' and technicians' training time [Relation] cause [Effect] the rationale for an equipment or service change is low",
    "gold": "[Cause] Many of Philips' products perform critical medical functions that require a significant amount of practitioners' and technicians' training time [Relation] cause [Effect]  the rationale for an equipment or service change is low",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the significant challenges that the coronavirus presents to the senior housing industry over the next several quarters, Healthpeak made the strategic decision in the third quarter to dispose of most of the company's senior housing assets in multiple transactions for around $4 billion in total proceeds.",
    "output": "[Cause] the significant challenges that the coronavirus presents to the senior housing industry over the next several quarters [Relation] cause [Effect] Healthpeak made the strategic decision in the third quarter to dispose of most of the company's senior housing assets in multiple transactions for around $4 billion in total proceeds",
    "gold": "[Cause] the significant challenges that the coronavirus presents to the senior housing industry over the next several quarters [Relation] cause [Effect] Healthpeak made the strategic decision in the third quarter to dispose of most of the company's senior housing assets in multiple transactions for around $4 billion in total proceeds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As its investments in inventory management technology and supply chain automation are invested across a broader pool of sales and stores, the firm's cost profile improves in a way that is difficult for smaller competitors to replicate.",
    "output": "[Cause] its investments in inventory management technology and supply chain automation are invested across a broader pool of sales and stores [Relation] cause [Effect] the firm's cost profile improves in a way that is difficult for smaller competitors to replicate",
    "gold": "[Cause]  its investments in inventory management technology and supply chain automation are invested across a broader pool of sales and stores [Relation] enable [Effect] the firm's cost profile improves in a way that is difficult for smaller competitors to replicate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have been impressed by the bank's continued investment in technology, leading to more integrated back-end systems, a competitive payments platform, and a leading presence in the push toward omnichannel banking.",
    "output": "[Cause] the bank's continued investment in technology [Relation] cause [Effect] more integrated back-end systems, a competitive payments platform, and a leading presence in the push toward omnichannel banking",
    "gold": "[Cause] the bank's continued investment in technology [Relation] cause [Effect] more integrated back-end systems, a competitive payments platform, and a leading presence in the push toward omnichannel banking",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For the customers of Fanuc, any type of breakdown leads to a loss in productivity, which can ultimately lead to an inability to deliver services to customers as well as an economic loss.",
    "output": "[Cause] any type of breakdown [Relation] cause [Effect] a loss in productivity",
    "gold": "[Cause] any type of breakdown [Relation] cause [Effect] a loss in productivity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For the customers of Fanuc, any type of breakdown leads to a loss in productivity, which can ultimately lead to an inability to deliver services to customers as well as an economic loss.",
    "output": "[Cause] any type of breakdown [Relation] cause [Effect] a loss in productivity",
    "gold": "[Cause] any type of breakdown | a loss in productivity [Relation] cause [Effect] an inability to deliver services to customers as well as an economic loss",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Corn input costs represent a significant source of uncertainty for Ingredion, as the company's hedging efforts are focused largely on its North American corn purchases and corn prices have been highly volatile in recent years.",
    "output": "[Cause] the company's hedging efforts are focused largely on its North American corn purchases and corn prices have been highly volatile in recent years [Relation] cause [Effect] Corn input costs represent a significant source of uncertainty for Ingredion",
    "gold": "[Cause] the company's hedging efforts are focused largely on its North American corn purchases and corn prices have been highly volatile in recent years [Relation] enable [Effect] Corn input costs represent a significant source of uncertainty for Ingredion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe consumer revenue will experience organic growth averaging roughly 2%-3% per year, as volume and pricing gradually advance.",
    "output": "[Cause] volume and pricing gradually advance [Relation] cause [Effect] consumer revenue will experience organic growth averaging roughly 2%-3% per year",
    "gold": "[Cause] volume and pricing gradually advance [Relation] cause [Effect] consumer revenue will experience organic growth averaging roughly 2%-3% per year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Gasoline engines also don't require complex exhaust aftertreatment systems and requisite consumable diesel exhaust fluid that add approximately 3% to diesel fuel expenditures.",
    "output": "[Cause] Gasoline engines also don't require complex exhaust aftertreatment systems and requisite consumable diesel exhaust fluid [Relation] cause [Effect] add approximately 3% to diesel fuel expenditures",
    "gold": "[Cause] Gasoline engines also don't require complex exhaust aftertreatment systems and requisite consumable diesel exhaust fluid [Relation] cause [Effect] add approximately 3% to diesel fuel expenditures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Most of its investment during the next few years will be in projects that flow through rates without base rate reviews, reducing regulatory risk and improving cash flow conversion.",
    "output": "[Cause] Most of its investment during the next few years will be in projects that flow through rates without base rate reviews [Relation] enable [Effect] reducing regulatory risk and improving cash flow conversion",
    "gold": "[Cause] Most of its investment during the next few years will be in projects that flow through rates without base rate reviews [Relation] enable [Effect] reducing regulatory risk and improving cash flow conversion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The payment processing industry is evolving, and it is possible that new competition and future disruption could significantly reduce the profitability PayPal can generate or cut it out altogether.",
    "output": "[Cause] new competition and future disruption [Relation] cause [Effect] reduce the profitability PayPal can generate or cut it out altogether",
    "gold": "[Cause] new competition and future disruption [Relation] enable [Effect] reduce the profitability PayPal can generate or cut it out altogether",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate that the R&D tax credit and the excess tax benefits on stock compensation are sustainable, which knocks a few percentage points off our estimated effective tax rate.",
    "output": "[Cause] the R&D tax credit and the excess tax benefits on stock compensation are sustainable [Relation] cause [Effect] knocks a few percentage points off our estimated effective tax rate",
    "gold": "[Cause] the R&D tax credit and the excess tax benefits on stock compensation are sustainable [Relation] enable [Effect] knocks a few percentage points off our estimated effective tax rate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we expect the current level of supply to be absorbed by existing demand growth and help moderate the market, increased new supply will pressure operations and asset values.",
    "output": "[Cause] increased new supply [Relation] cause [Effect] pressure operations and asset values",
    "gold": "[Cause] increased new supply [Relation] enable [Effect] pressure operations and asset values",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Hostess works closely with its retail partners to optimize revenue in this highly impulsive category, in which merchandising can have a large impact on sell-through.",
    "output": "[Cause] Hostess works closely with its retail partners to optimize revenue in this highly impulsive category [Relation] enable [Effect] merchandising can have a large impact on sell-through",
    "gold": "[Cause] Hostess works closely with its retail partners [Relation] enable [Effect] optimize revenue in this highly impulsive category",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We anticipate that the company will continue to offer more generous reward offers to its cardholders in order to remain competitive.",
    "output": "[Cause] remain competitive [Relation] cause [Effect] the company will continue to offer more generous reward offers to its cardholders",
    "gold": "[Cause] company will continue to offer more generous reward offers to its cardholder [Relation] cause [Effect] remain competitive",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Thus, we believe that Kimco must continue improving its overall quality mix to maintain solid net operating income growth across its portfolio.",
    "output": "[Cause] Kimco must continue improving its overall quality mix [Relation] enable [Effect] maintain solid net operating income growth across its portfolio",
    "gold": "[Cause] maintain solid net operating income growth [Relation] cause [Effect] Kimco must continue improving its overall quality mix",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, as Twilio pivots focus toward enterprise clients and obtaining more long-term contracts, clients can negotiate discounts, making it difficult for Twilio to pass on these increasing costs and eroding pricing power.",
    "output": "[Cause] Twilio pivots focus toward enterprise clients and obtaining more long-term contracts [Relation] cause [Effect] clients can negotiate discounts",
    "gold": "[Cause] Twilio pivots focus toward enterprise clients and obtaining more long-term contracts [Relation] enable [Effect] clients can negotiate discounts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As competitors were forced to exit the market and/or go through a series of product re-pricing, market share became available and Jackson took up the newly available space at its well-established rates.",
    "output": "[Cause] competitors were forced to exit the market and/or go through a series of product re-pricing [Relation] cause [Effect] market share became available and Jackson took up the newly available space at its well-established rates",
    "gold": "[Cause]  competitors were forced to exit the market and/or go through a series of product re-pricing [Relation] cause [Effect] market share became available and Jackson took up the newly available space at its well-established rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Key to its value proposition is its comprehensive portfolio of medical waste management solutions that gives Stericycle significant pricing power.",
    "output": "[Cause] its comprehensive portfolio of medical waste management solutions [Relation] enable [Effect] Stericycle significant pricing power",
    "gold": "[Cause]  its comprehensive portfolio of medical waste management solutions [Relation] enable [Effect] Stericycle significant pricing power",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe customers prefer to stay with their cybersecurity providers, especially if they provide solutions for emerging threats, to avoid security breaches and network disruptions.",
    "output": "[Cause] they provide solutions for emerging threats [Relation] cause [Effect] avoid security breaches and network disruptions",
    "gold": "[Cause] they provide solutions for emerging threats [Relation] enable [Effect] avoid security breaches and network disruptions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe customers prefer to stay with their cybersecurity providers, especially if they provide solutions for emerging threats, to avoid security breaches and network disruptions.",
    "output": "[Cause] avoid security breaches and network disruptions [Relation] cause [Effect] customers prefer to stay with their cybersecurity providers",
    "gold": "[Cause] they provide solutions for emerging threats [Relation] cause [Effect] customers prefer to stay with their cybersecurity providers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With virtually all of its 2021 production sold out and half of its 2022 production sold out, First Solar's growth depends on its ability to expand production.",
    "output": "[Cause] virtually all of its 2021 production sold out and half of its 2022 production sold out [Relation] cause [Effect] First Solar's growth depends on its ability to expand production",
    "gold": "[Cause] ability to expand production [Relation] enable [Effect] First Solar's growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, if Icon does not continue to invest in innovative technology or next-generation processes, it is at risk of falling behind and losing share to more-innovative CROs that can offer faster patient enrollment and shorter trials.",
    "output": "[Cause] Icon does not continue to invest in innovative technology or next-generation processes [Relation] cause [Effect] falling behind and losing share to more-innovative CROs that can offer faster patient enrollment and shorter trials",
    "gold": "[Cause] Icon does not continue to invest in innovative technology or next-generation processes [Relation] cause [Effect] it is at risk of falling behind and losing share to more-innovative CROs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "On premises sales were a more defined transaction for customers that tend to have strict procedural purchasing, while SaaS deals could bring more scrutiny, as potential buyers might want to explore data security and legal responsibilities more thoroughly.",
    "output": "[Cause] potential buyers might want to explore data security and legal responsibilities more thoroughly [Relation] cause [Effect] SaaS deals could bring more scrutiny",
    "gold": "[Cause] potential buyers might want to explore data security and legal responsibilities more thoroughly [Relation] cause [Effect] SaaS deals could bring more scrutiny",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The geopolitical risk is broader, as any number of unpredictable events such as wars, international tension, and natural disasters affect travel.",
    "output": "[Cause] any number of unpredictable events such as wars, international tension, and natural disasters affect travel [Relation] cause [Effect] The geopolitical risk is broader",
    "gold": "[Cause] any number of unpredictable events such as wars, international tension, and natural disasters affect travel [Relation] cause [Effect] The geopolitical risk is broader",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For 2021, we expect gross revenue to rise 14% as heavy retailer restocking drives strong demand across all segments throughout the first half and intermodal network inefficiencies subside.",
    "output": "[Cause] heavy retailer restocking drives strong demand across all segments throughout the first half and intermodal network inefficiencies subside [Relation] cause [Effect] gross revenue to rise 14%",
    "gold": "[Cause] heavy retailer restocking drives strong demand across all segments throughout the first half and intermodal network inefficiencies subside [Relation] cause [Effect] gross revenue to rise 14%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We model average annual revenue growth over the next five years of 14% and 31% for the computing and automotive end markets, respectively, due to increased content in servers and ongoing design activity with Tier 1 suppliers.",
    "output": "[Cause] increased content in servers and ongoing design activity with Tier 1 suppliers [Relation] cause [Effect] average annual revenue growth over the next five years of 14% and 31% for the computing and automotive end markets",
    "gold": "[Cause] increased content in servers and ongoing design activity with Tier 1 suppliers [Relation] cause [Effect] average annual revenue growth over the next five years of 14% and 31% for the computing and automotive end markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This reflects Nissan's sensitivity to the economic cycle, plus relatively low financial leverage, offset by the company's unfavorable operating leverage relative to other automakers', and results in our high uncertainty rating.",
    "output": "[Cause] Nissan's sensitivity to the economic cycle, plus relatively low financial leverage [Relation] cause [Effect] our high uncertainty rating",
    "gold": "[Cause] Nissan's sensitivity to the economic cycle, plus relatively low financial leverage [Relation] prevent [Effect] the company's unfavorable operating leverage relative to other automakers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Most of the mobile business in Africa is prepaid, which provides incremental revenue opportunities as usage increases, though switching costs are also very low for consumers.",
    "output": "[Cause] Most of the mobile business in Africa is prepaid [Relation] enable [Effect] provides incremental revenue opportunities as usage increases",
    "gold": "[Cause] Most of the mobile business in Africa is prepaid [Relation] cause [Effect] provides incremental revenue opportunities as usage increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Still, although video gaming machine revenue in Illinois has grown 900% from 2013 to 2017, casino gambling revenue in the state has dropped 15%, according to ProPublica Illinois. As a result of this cannibalization, Illinois is the only state to post negative gaming revenue growth in each of the past six reported years (2014-19), according to data from the Illinois Gaming Board and American Gaming Association.",
    "output": "[Cause] although video gaming machine revenue in Illinois has grown 900% from 2013 to 2017, casino gambling revenue in the state has dropped 15%, according to ProPublica Illinois [Relation] cause [Effect] Illinois is the only state to post negative gaming revenue growth in each of the past six reported years (2014-19), according to data from the Illinois Gaming Board and American Gaming Association",
    "gold": "[Cause]  although video gaming machine revenue in Illinois has grown 900% from 2013 to 2017, casino gambling revenue in the state has dropped 15%, according to ProPublica Illinois [Relation] cause [Effect] Illinois is the only state to post negative gaming revenue growth in each of the past six reported years (2014-19), according to data from the Illinois Gaming Board and American Gaming Association",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Lennar has done a commendable job shifting to a lighter land strategy, this strategy is not unique, in our view, as much of the industry has followed the same path to varying degrees of success.",
    "output": "[Cause] much of the industry has followed the same path to varying degrees of success [Relation] cause [Effect] While Lennar has done a commendable job shifting to a lighter land strategy, this strategy is not unique",
    "gold": "[Cause] much of the industry has followed the same path to varying degrees of success [Relation] cause [Effect] While Lennar has done a commendable job shifting to a lighter land strategy, this strategy is not unique",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By eliminating the biggest concern most active equity managers have with active ETFs (the disclosure of portfolio holdings on a daily basis), ETMFs were expected to be a longer-term winner for Eaton Vance.",
    "output": "[Cause] eliminating the biggest concern most active equity managers have with active ETFs (the disclosure of portfolio holdings on a daily basis) [Relation] enable [Effect] ETMFs were expected to be a longer-term winner for Eaton Vance",
    "gold": "[Cause] eliminating the biggest concern most active equity managers have with active ETFs (the disclosure of portfolio holdings on a daily basis) [Relation] enable [Effect] ETMFs were expected to be a longer-term winner for Eaton Vance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Longer-term as Chinese exports return over time and low-cost Moroccan and Middle Eastern production continues to come on line, we forecast long-term phosphate prices of roughly $350 per metric ton as the new supply limits long-term price appreciation.",
    "output": "[Cause] Chinese exports return over time and low-cost Moroccan and Middle Eastern production continues to come on line [Relation] cause [Effect] long-term phosphate prices of roughly $350 per metric ton",
    "gold": "[Cause] the new supply [Relation] prevent [Effect]  long-term price appreciation",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Longer-term as Chinese exports return over time and low-cost Moroccan and Middle Eastern production continues to come on line, we forecast long-term phosphate prices of roughly $350 per metric ton as the new supply limits long-term price appreciation.",
    "output": "[Cause] the new supply limits long-term price appreciation [Relation] cause [Effect] long-term phosphate prices of roughly $350 per metric ton",
    "gold": "[Cause] Chinese exports return over time and low-cost Moroccan and Middle Eastern production continues to come on line [Relation] enable [Effect] long-term phosphate prices of roughly $350 per metric ton",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In fact, during a downturn in new-vehicle sales, dealers generally report higher gross margins due to a favorable mix shift to parts, but then report lower operating margins due to SG&A deleveraging.",
    "output": "[Cause] a favorable mix shift to parts [Relation] cause [Effect] dealers generally report higher gross margins",
    "gold": "[Cause] during a downturn in new-vehicle sales, dealers generally report higher gross margins [Relation] cause [Effect] a favorable mix shift to parts, but then report lower operating margins due to SG&A deleveraging",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, Healthpeak will no longer significantly benefit from the senior housing sector's prospects of long-term growth as the sector recovers from the pandemic and sees a spike in demand from the aging baby boomer generation.",
    "output": "[Cause] the sector recovers from the pandemic and sees a spike in demand from the aging baby boomer generation [Relation] cause [Effect] Healthpeak will no longer significantly benefit from the senior housing sector's prospects of long-term growth",
    "gold": "[Cause] the sector recovers from the pandemic and sees a spike in demand from the aging baby boomer generation [Relation] cause [Effect] Healthpeak will no longer significantly benefit from the senior housing sector's prospects of long-term growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Norwegian was already facing pricing headwinds in 2020, lapping Cuban itineraries, and the inaugural season of Encore, when the global spread of COVID-19 exacerbated its plight. As a result, 2020 was even more difficult to navigate than past recessions, with capacity down 100% over the final three quarters of 2020.",
    "output": "[Cause] Norwegian was already facing pricing headwinds in 2020, lapping Cuban itineraries, and the inaugural season of Encore, when the global spread of COVID-19 exacerbated its plight [Relation] cause [Effect] 2020 was even more difficult to navigate than past recessions, with capacity down 100% over the final three quarters of 2020",
    "gold": "[Cause] Norwegian was already facing pricing headwinds in 2020, lapping Cuban itineraries, and the inaugural season of Encore, when the global spread of COVID-19 exacerbated its plight [Relation] cause [Effect] 2020 was even more difficult to navigate than past recessions, with capacity down 100% over the final three quarters of 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Beyond that, we assume revenue growth will create operating leverage, as sales and marketing, along with general and administrative expenses, should grow at lower rates than the top line.",
    "output": "[Cause] sales and marketing, along with general and administrative expenses, should grow at lower rates than the top line [Relation] cause [Effect] revenue growth will create operating leverage",
    "gold": "[Cause] sales and marketing, along with general and administrative expenses, should grow at lower rates than the top line [Relation] cause [Effect] revenue growth will create operating leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Talison is one of the best spodumene resources in the world, which allows Albemarle to be one of the lowest-cost lithium hydroxide producers as spodumene can be converted directly into hydroxide.",
    "output": "[Cause] Talison is one of the best spodumene resources in the world [Relation] enable [Effect] Albemarle to be one of the lowest-cost lithium hydroxide producers",
    "gold": "[Cause] Talison is one of the best spodumene resources in the world [Relation] enable [Effect] Albemarle to be one of the lowest-cost lithium hydroxide producers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Talison is one of the best spodumene resources in the world, which allows Albemarle to be one of the lowest-cost lithium hydroxide producers as spodumene can be converted directly into hydroxide.",
    "output": "[Cause] Talison is one of the best spodumene resources in the world [Relation] enable [Effect] Albemarle to be one of the lowest-cost lithium hydroxide producers",
    "gold": "[Cause] spodumene can be converted directly into hydroxide [Relation] enable [Effect] Albemarle to be one of the lowest-cost lithium hydroxide producers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our medium uncertainty rating accounts for the fact that over 50% of AES' pretax contribution is derived from businesses in emerging markets.",
    "output": "[Cause] Our medium uncertainty rating [Relation] cause [Effect] over 50% of AES' pretax contribution is derived from businesses in emerging markets",
    "gold": "[Cause] Our medium uncertainty rating [Relation] cause [Effect] over 50% of AES' pretax contribution is derived from businesses in emerging markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The central government's visa restrictions led to a plunge in gaming revenue growth to 9.7% in 2009 from 31% in 2008.",
    "output": "[Cause] The central government's visa restrictions [Relation] cause [Effect] a plunge in gaming revenue growth to 9.7% in 2009 from 31% in 2008",
    "gold": "[Cause] The central government's visa restrictions [Relation] cause [Effect] a plunge in gaming revenue growth to 9.7% in 2009 from 31% in 2008",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because Zebra has the broadest solution set in the industry, it can plug into more parts of an organization, and create an even more entrenched system--all while increasing customer productivity.",
    "output": "[Cause] Zebra has the broadest solution set in the industry [Relation] enable [Effect] it can plug into more parts of an organization, and create an even more entrenched system--all while increasing customer productivity",
    "gold": "[Cause] Zebra has the broadest solution set in the industry [Relation] cause [Effect] it can plug into more parts of an organization, and create an even more entrenched system--all while increasing customer productivity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As demand recovers postpandemic, we expect EBITDA margins in the engineered materials segment to return to the low- to mid-30% range as the company continues to develop new downstream products that provide some pricing power.",
    "output": "[Cause] demand recovers postpandemic [Relation] cause [Effect] EBITDA margins in the engineered materials segment to return to the low- to mid-30% range as the company continues to develop new downstream products that provide some pricing power",
    "gold": "[Cause] the company continues to develop new downstream products that provide some pricing power [Relation] enable [Effect] As demand recovers postpandemic, we expect EBITDA margins in the engineered materials segment to return to the low- to mid-30% range",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although its sales have soared during the pandemic, we believe the impact is temporary, as growth in sporting goods retail has generally been minimal due to external competition.",
    "output": "[Cause] external competition [Relation] cause [Effect] growth in sporting goods retail has generally been minimal",
    "gold": "[Cause]  growth in sporting goods retail has generally been minimal [Relation] cause [Effect]  the impact is temporary",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although its sales have soared during the pandemic, we believe the impact is temporary, as growth in sporting goods retail has generally been minimal due to external competition.",
    "output": "[Cause] external competition [Relation] cause [Effect] growth in sporting goods retail has generally been minimal",
    "gold": "[Cause] external competition [Relation] cause [Effect]  growth in sporting goods retail has generally been minimal",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, like all E&amp;P firms, the firm is exposed to a range of potential environmental, social, and governance issues that could hurt its ability to generate strong returns.",
    "output": "[Cause] the firm is exposed to a range of potential environmental, social, and governance issues [Relation] cause [Effect] hurt its ability to generate strong returns",
    "gold": "[Cause] the firm is exposed to a range of potential environmental, social, and governance issues [Relation] cause [Effect] hurt its ability to generate strong returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The larger the user base, the more user data Baidu can collect and analyze, improving the search engine algorithm and relevancy of search results.",
    "output": "[Cause] The larger the user base [Relation] enable [Effect] improving the search engine algorithm and relevancy of search results",
    "gold": "[Cause] he more user data Baidu can collect and analyze [Relation] cause [Effect] improving the search engine algorithm and relevancy of search results",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As Costco laps exceptional fiscal 2020 sales, we expect its comparable growth to dip into the low-single digits (excluding fuel) by the fourth quarter as Americans redirect spending toward pandemic-restricted categories like restaurants.",
    "output": "[Cause] Americans redirect spending toward pandemic-restricted categories like restaurants [Relation] cause [Effect] its comparable growth to dip into the low-single digits (excluding fuel) by the fourth quarter",
    "gold": "[Cause] Americans redirect spending toward pandemic-restricted categories like restaurants [Relation] cause [Effect] Costco laps exceptional fiscal 2020 sales",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As management intends to expand both platforms to roughly $3 billion-$5 billion in revenue each over the next few years, we expect the company will continue to pursue bolt-on acquisitions, particularly in the medical technology segment.",
    "output": "[Cause] management intends to expand both platforms to roughly $3 billion-$5 billion in revenue each over the next few years [Relation] cause [Effect] the company will continue to pursue bolt-on acquisitions, particularly in the medical technology segment",
    "gold": "[Cause] management intends to expand both platforms to roughly $3 billion-$5 billion in revenue each over the next few years [Relation] cause [Effect] the company will continue to pursue bolt-on acquisitions, particularly in the medical technology segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, limitations brought forth by browser providers such as Apple and its Intelligent Tracking Prevention and Google's plan to abandon cookies in 2021 may adversely affect Criteo's ability to capture additional user data, in turn weighing on the firm's machine-learning capabilities, ad purchase and placement, and client growth.",
    "output": "[Cause] limitations brought forth by browser providers such as Apple and its Intelligent Tracking Prevention and Google's plan to abandon cookies in 2021 [Relation] prevent [Effect] Criteo's ability to capture additional user data",
    "gold": "[Cause] limitations brought forth by browser providers such as Apple and its Intelligent Tracking Prevention and Google's plan to abandon cookies in 2021 [Relation] cause [Effect] weighing on the firm's machine-learning capabilities, ad purchase and placement, and client growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Bristol's PD-1 cancer drug Opdivo holds the potential to revolutionize cancer treatment and should drive multi-billion-dollar sales annually based on solid efficacy, combination potential with other drugs and strong pricing power.",
    "output": "[Cause] solid efficacy, combination potential with other drugs and strong pricing power [Relation] enable [Effect] multi-billion-dollar sales annually",
    "gold": "[Cause]  solid efficacy, combination potential with other drugs and strong pricing power [Relation] cause [Effect] multi-billion-dollar sales annually",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see sales declining in 2021 as the footprint continues to contract before growing at a low-single-digit rate for three years and leveling off in 2026.",
    "output": "[Cause] the footprint continues to contract before growing at a low-single-digit rate for three years and leveling off in 2026 [Relation] cause [Effect] sales declining in 2021",
    "gold": "[Cause]  the footprint continues to contract before growing at a low-single-digit rate for three years and leveling off in 2026 [Relation] cause [Effect] sales declining in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We now expect greater revenue growth from subscriber additions from Paramount+ which will benefit from a greater library and increased content investment than CBS All Access.",
    "output": "[Cause] a greater library and increased content investment than CBS All Access [Relation] cause [Effect] greater revenue growth from subscriber additions from Paramount+",
    "gold": "[Cause] We now expect greater revenue growth from subscriber additions from Paramount+ [Relation] enable [Effect]  benefit from a greater library and increased content investment than CBS All Access",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Potentially offsetting the challenge of generating economic profit from regulation intangibles, we think that the creation of brand intangibles would help cannabis companies pass the increased cost to consumers, thus protecting their own economic profit.",
    "output": "[Cause] the creation of brand intangibles [Relation] enable [Effect] cannabis companies pass the increased cost to consumers",
    "gold": "[Cause] help cannabis companies pass the increased cost to consumers [Relation] enable [Effect]  protecting their own economic profit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Potentially offsetting the challenge of generating economic profit from regulation intangibles, we think that the creation of brand intangibles would help cannabis companies pass the increased cost to consumers, thus protecting their own economic profit.",
    "output": "[Cause] the creation of brand intangibles [Relation] enable [Effect] cannabis companies pass the increased cost to consumers",
    "gold": "[Cause] the creation of brand intangibles [Relation] cause [Effect] Potentially offsetting the challenge of generating economic profit from regulation intangibles",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe this price volatility is the result of rapidly evolving OSB production efficiency, and a supply response to currently attractive profit margins.",
    "output": "[Cause] rapidly evolving OSB production efficiency, and a supply response to currently attractive profit margins [Relation] cause [Effect] this price volatility",
    "gold": "[Cause] rapidly evolving OSB production efficiency, and a supply response to currently attractive profit margins [Relation] cause [Effect] this price volatility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In a normalized environment, we see policies impeding global trade as the highest risk to commercial and global banking markets, reducing for trade finance revenue and advisory services as capital markets weaken.",
    "output": "[Cause] capital markets weaken [Relation] cause [Effect] reducing for trade finance revenue and advisory services",
    "gold": "[Cause] capital markets weaken [Relation] enable [Effect] reducing for trade finance revenue and advisory services",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because recycled ferrous scrap metal used to produce steel in electric arc furnaces is imbued with impurities, owing to its exposure to other naturally occurring elements in use, steel produced by electric arc furnaces is typically lower-quality than steel produced via blast furnace. Therefore, electric arc furnace operators are generally unable to service end markets that require high-strength, flat-rolled steel such as the automotive market.",
    "output": "[Cause] recycled ferrous scrap metal used to produce steel in electric arc furnaces is imbued with impurities, owing to its exposure to other naturally occurring elements in use, steel produced by electric arc furnaces is typically lower-quality than steel produced via blast furnace [Relation] cause [Effect] electric arc furnace operators are generally unable to service end markets that require high-strength, flat-rolled steel such as the automotive market",
    "gold": "[Cause] recycled ferrous scrap metal used to produce steel in electric arc furnaces is imbued with impurities, owing to its exposure to other naturally occurring elements in use, steel produced by electric arc furnaces is typically lower-quality than steel produced via blast furnace [Relation] cause [Effect] electric arc furnace operators are generally unable to service end markets that require high-strength, flat-rolled steel such as the automotive market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's scale generates significant bargaining power with vendors when it comes to products, advertisement, and rent, among other things.",
    "output": "[Cause] The firm's scale [Relation] enable [Effect] generates significant bargaining power with vendors when it comes to products, advertisement, and rent, among other things",
    "gold": "[Cause] The firm's scale [Relation] cause [Effect] generates significant bargaining power with vendors when it comes to products, advertisement, and rent, among other things",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "During the Great Financial Recession in 2008, gaming revenue on the Vegas Strip declined 19%, and we expect Caesars' Vegas sales to drop around 65% in 2020, due to COVID-19.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] Caesars' Vegas sales to drop around 65% in 2020",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect]  Caesars' Vegas sales to drop around 65% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the firm's automotive chip business benefits from both intangible assets around proprietary chip designs, as well as high switching costs once the firm's products are designed into automotive programs.",
    "output": "[Cause] both intangible assets around proprietary chip designs, as well as high switching costs once the firm's products are designed into automotive programs [Relation] enable [Effect] the firm's automotive chip business",
    "gold": "[Cause] both intangible assets around proprietary chip designs, as well as high switching costs once the firm's products are designed into automotive programs [Relation] enable [Effect] the firm's automotive chip business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the lower relative expense and the reliability factor (given Cadence's brand and experience), customers are more likely than not to continue to utilize the firm's IP; the comprehensive selection of products to choose from and the smoother interoperability with other Cadence tools contribute to this.",
    "output": "[Cause] the lower relative expense and the reliability factor [Relation] cause [Effect] customers are more likely than not to continue to utilize the firm's IP",
    "gold": "[Cause] the lower relative expense and the reliability factor [Relation] cause [Effect] customers are more likely than not to continue to utilize the firm's IP",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the lower relative expense and the reliability factor (given Cadence's brand and experience), customers are more likely than not to continue to utilize the firm's IP; the comprehensive selection of products to choose from and the smoother interoperability with other Cadence tools contribute to this.",
    "output": "[Cause] the comprehensive selection of products to choose from and the smoother interoperability with other Cadence tools [Relation] cause [Effect] customers are more likely than not to continue to utilize the firm's IP",
    "gold": "[Cause] the comprehensive selection of products to choose from and the smoother interoperability with other Cadence tools [Relation] enable [Effect] customers are more likely than not to continue to utilize the firm's IP",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The worst is not quite over yet for airlines, as the COVID-19 vaccine has not been fully distributed yet, but we see a leisure-led recovery for airlines and anticipate American can return to 2019 levels of capacity in 2023.",
    "output": "[Cause] the COVID-19 vaccine has not been fully distributed yet [Relation] cause [Effect] The worst is not quite over yet for airlines",
    "gold": "[Cause] the COVID-19 vaccine has not been fully distributed yet [Relation] cause [Effect] The worst is not quite over yet for airlines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, PCs are a mature market with decreasing volume growth and limited pricing power and we expect the firm will be unable to continue its steady growth over the next decade.",
    "output": "[Cause] PCs are a mature market with decreasing volume growth and limited pricing power [Relation] cause [Effect] the firm will be unable to continue its steady growth over the next decade",
    "gold": "[Cause] PCs are a mature market with decreasing volume growth and limited pricing power [Relation] cause [Effect] the firm will be unable to continue its steady growth over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ADM's ethanol business, Vantage corn processors, will likely continue to struggle in the near term, as declining gasoline demand and lower oil prices will increase operating losses.",
    "output": "[Cause] declining gasoline demand and lower oil prices will increase operating losses [Relation] cause [Effect] ADM's ethanol business, Vantage corn processors, will likely continue to struggle in the near term",
    "gold": "[Cause] declining gasoline demand and lower oil prices will increase operating losses [Relation] cause [Effect] ADM's ethanol business, Vantage corn processors, will likely continue to struggle in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It is substantially lower margin as Keurig typically serves solely as a contract manufacturer not benefitting from the sell-through to retailers.",
    "output": "[Cause] Keurig typically serves solely as a contract manufacturer not benefitting from the sell-through to retailers [Relation] cause [Effect] It is substantially lower margin",
    "gold": "[Cause] a contract manufacturer not benefitting from the sell-through to retailers [Relation] cause [Effect]  lower margin as Keurig typically serves solely",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We estimate margins on owned properties to reach 25% in 2030 from 22.9% in the pre-COVID year of 2019 as Hyatt continues to leverage the top line and see operational improvement in a recycled owned-asset portfolio that is higher in quality.",
    "output": "[Cause] Hyatt continues to leverage the top line and see operational improvement in a recycled owned-asset portfolio that is higher in quality [Relation] cause [Effect] margins on owned properties to reach 25% in 2030 from 22.9% in the pre-COVID year of 2019",
    "gold": "[Cause] Hyatt continues to leverage the top line and see operational improvement in a recycled owned-asset portfolio that is higher in quality [Relation] cause [Effect] margins on owned properties to reach 25% in 2030 from 22.9% in the pre-COVID year of 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the margin side, we expect heavy patent losses in 2023 on high-margin drugs will hurt our longer-term margin expectations as the company has not developed enough next-generation drugs in its late-stage pipeline to support a stronger margin over the long term.",
    "output": "[Cause] the company has not developed enough next-generation drugs in its late-stage pipeline to support a stronger margin over the long term [Relation] cause [Effect] heavy patent losses in 2023 on high-margin drugs",
    "gold": "[Cause] the company has not developed enough next-generation drugs in its late-stage pipeline to support a stronger margin over the long term [Relation] cause [Effect] heavy patent losses in 2023 on high-margin drugs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the margin side, we expect heavy patent losses in 2023 on high-margin drugs will hurt our longer-term margin expectations as the company has not developed enough next-generation drugs in its late-stage pipeline to support a stronger margin over the long term.",
    "output": "[Cause] heavy patent losses in 2023 on high-margin drugs [Relation] cause [Effect] hurt our longer-term margin expectations",
    "gold": "[Cause] heavy patent losses in 2023 on high-margin drugs [Relation] cause [Effect] hurt our longer-term margin expectations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, as volatility in oil and natural gas prices can cause potential customers to defer or even terminate projects, Aecom faces a high level of uncertainty in the oil & gas end market.",
    "output": "[Cause] volatility in oil and natural gas prices [Relation] cause [Effect] potential customers to defer or even terminate projects",
    "gold": "[Cause] volatility in oil and natural gas prices [Relation] cause [Effect] potential customers to defer or even terminate projects",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, as volatility in oil and natural gas prices can cause potential customers to defer or even terminate projects, Aecom faces a high level of uncertainty in the oil & gas end market.",
    "output": "[Cause] potential customers to defer or even terminate projects [Relation] cause [Effect] Aecom faces a high level of uncertainty in the oil & gas end market",
    "gold": "[Cause] potential customers to defer or even terminate projects [Relation] cause [Effect]  Aecom faces a high level of uncertainty in the oil & gas end market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Consumer hardware is inherently prone to cutthroat competition as short-product cycles and customers hungry for greater features make market leadership difficult to sustain.",
    "output": "[Cause] short-product cycles and customers hungry for greater features make market leadership difficult to sustain [Relation] cause [Effect] Consumer hardware is inherently prone to cutthroat competition",
    "gold": "[Cause] short-product cycles and customers hungry for greater features make market leadership difficult to sustain [Relation] cause [Effect] Consumer hardware is inherently prone to cutthroat competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Successful commercialization of diabetes products also requires a strong sales presence, such as Novo's 15,000-plus sales employees scattered across the globe. These dynamics have led to branded insulin products retaining more than 90% of the insulin market despite generic human insulin competitors.",
    "output": "[Cause] Successful commercialization of diabetes products also requires a strong sales presence, such as Novo's 15,000-plus sales employees scattered across the globe [Relation] cause [Effect] branded insulin products retaining more than 90% of the insulin market despite generic human insulin competitors",
    "gold": "[Cause] Successful commercialization of diabetes products also requires a strong sales presence, such as Novo's 15,000-plus sales employees scattered across the globe [Relation] cause [Effect] branded insulin products retaining more than 90% of the insulin market despite generic human insulin competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that a higher mix of automotive, industrial, and computing revenue, along with greater manufacturing efficiency out of 12-inch fabs will push GAAP gross margin past 60% by 2030--up from 55% in 2020.",
    "output": "[Cause] a higher mix of automotive, industrial, and computing revenue, along with greater manufacturing efficiency out of 12-inch fabs [Relation] enable [Effect] GAAP gross margin past 60% by 2030--up from 55% in 2020",
    "gold": "[Cause] a higher mix of automotive, industrial, and computing revenue, along with greater manufacturing efficiency out of 12-inch fabs [Relation] enable [Effect]  GAAP gross margin past 60% by 2030--up from 55% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think PetroChina's key ESG risks (captured in our uncertainty rating) include carbon emissions in its operations, use of its products, emissions, effluents, and waste generated in operations, bribery and corruption and poor community relations.",
    "output": "[Cause] carbon emissions in its operations, use of its products, emissions, effluents, and waste generated in operations, bribery and corruption and poor community relations [Relation] cause [Effect] PetroChina's key ESG risks",
    "gold": "[Cause] carbon emissions in its operations, use of its products, emissions, effluents, and waste generated in operations, bribery and corruption and poor community relations [Relation] enable [Effect] PetroChina's key ESG risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect race promotion revenue to increase by 8% annually as the push back against the fee growth from promoters for established races will be more than offset by the growth in flyaway races and addition of more races.",
    "output": "[Cause] the push back against the fee growth from promoters for established races will be more than offset by the growth in flyaway races and addition of more races [Relation] cause [Effect] race promotion revenue to increase by 8% annually",
    "gold": "[Cause]  the push back against the fee growth from promoters for established races will be more than offset by the growth in flyaway races and addition of more races [Relation] enable [Effect]  race promotion revenue to increase by 8% annually",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think this multicloud platform will ultimately give Snowflake an edge in terms of network effects; data set buyers will likely turn to Snowflake because it has the widest multicloud selection, in turn encouraging more users and more data set providers to join the Snowflake marketplace over time.",
    "output": "[Cause] this multicloud platform [Relation] enable [Effect] give Snowflake an edge in terms of network effects",
    "gold": "[Cause]  this multicloud platform [Relation] enable [Effect]  give Snowflake an edge in terms of network effects",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think this multicloud platform will ultimately give Snowflake an edge in terms of network effects; data set buyers will likely turn to Snowflake because it has the widest multicloud selection, in turn encouraging more users and more data set providers to join the Snowflake marketplace over time.",
    "output": "[Cause] data set buyers will likely turn to Snowflake [Relation] enable [Effect] encouraging more users and more data set providers to join the Snowflake marketplace over time",
    "gold": "[Cause]  it has the widest multicloud selection [Relation] cause [Effect] data set buyers will likely turn to Snowflake",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, narrowing refining margins could damage downstream profitability, though threat of high prices and need to subsidize the domestic market have largely abated.",
    "output": "[Cause] narrowing refining margins [Relation] cause [Effect] damage downstream profitability",
    "gold": "[Cause] narrowing refining margins [Relation] cause [Effect] damage downstream profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The emergence and growth of digital media, which has brought a more targeted marketing and advertising platform, has also driven increased consolidation in the ad space, as IPG and its peers have acquired various smaller agencies that focused on the growing digital advertising niche.",
    "output": "[Cause] IPG and its peers have acquired various smaller agencies that focused on the growing digital advertising niche [Relation] cause [Effect] The emergence and growth of digital media, which has brought a more targeted marketing and advertising platform, has also driven increased consolidation in the ad space",
    "gold": "[Cause]  IPG and its peers have acquired various smaller agencies that focused on the growing digital advertising niche [Relation] cause [Effect] The emergence and growth of digital media, which has brought a more targeted marketing and advertising platform, has also driven increased consolidation in the ad space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thermo Fisher's salesforce is by far the largest in the industry, which has allowed the company to penetrate emerging markets.",
    "output": "[Cause] Thermo Fisher's salesforce is by far the largest in the industry [Relation] enable [Effect] the company to penetrate emerging markets",
    "gold": "[Cause] Thermo Fisher's salesforce is by far the largest in the industry [Relation] enable [Effect] the company to penetrate emerging markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we think Toll Brothers can achieve positive economic profits with increased sales volume, we expect competition and the company's more capital-intensive land acquisition strategy (compared with peers) to restrain the amplitude of those profits.",
    "output": "[Cause] competition and the company's more capital-intensive land acquisition strategy [Relation] prevent [Effect] the amplitude of those profits",
    "gold": "[Cause] competition and the company's more capital-intensive land acquisition strategy [Relation] prevent [Effect] the amplitude of those profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Consolidation across European defense markets has made Airbus' defense unit a top contender among the short list of contractors vying for defense work with European countries and their allies.",
    "output": "[Cause] Consolidation across European defense markets [Relation] enable [Effect] Airbus' defense unit a top contender among the short list of contractors vying for defense work with European countries and their allies",
    "gold": "[Cause] Consolidation across European defense markets [Relation] enable [Effect]  Airbus' defense unit a top contender among the short list of contractors vying for defense work with European countries and their allies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the bank continues to make improvements around the margin, we expect consistent market-leading performance as expenses are controlled, regulatory capital is efficiently used, and technology investments continue.",
    "output": "[Cause] expenses are controlled, regulatory capital is efficiently used, and technology investments continue [Relation] cause [Effect] consistent market-leading performance",
    "gold": "[Cause]  expenses are controlled, regulatory capital is efficiently used, and technology investments continue [Relation] enable [Effect] consistent market-leading performance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Rising input costs can pressure margins for a year or more before the company is able to pass on commensurate price increases.",
    "output": "[Cause] Rising input costs [Relation] cause [Effect] pressure margins for a year or more before the company is able to pass on commensurate price increases",
    "gold": "[Cause] Rising input costs [Relation] cause [Effect] pressure margins for a year or more before the company is able to pass on commensurate price increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see flat margins in space systems, as we expect that the segment will continue to be dominated by cost-plus development programs.",
    "output": "[Cause] the segment will continue to be dominated by cost-plus development programs [Relation] cause [Effect] flat margins in space systems",
    "gold": "[Cause] the segment will continue to be dominated by cost-plus development programs [Relation] cause [Effect] flat margins in space systems",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although its e-commerce has soared during the pandemic (30% of sales in 2020, up from 16% in 2019), we think Dick's large base of about 850 stores limits its flexibility.",
    "output": "[Cause] Dick's large base of about 850 stores [Relation] prevent [Effect] its flexibility",
    "gold": "[Cause] Dick's large base of about 850 stores [Relation] prevent [Effect] its flexibility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This is especially the case in XPO's LTL unit because excess capacity has historically driven carriers across the industry to slash rates in an attempt to salvage asset utilization.",
    "output": "[Cause] excess capacity [Relation] cause [Effect] carriers across the industry to slash rates in an attempt to salvage asset utilization",
    "gold": "[Cause] excess capacity has historically driven carriers across the industry to slash rates in an attempt to salvage asset utilization [Relation] cause [Effect] This is especially the case in XPO's LTL unit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Still, the acquisitions have led to GTT's invested capital base increasing eightfold over the last five years, and we don't project the firm to earn excess returns on that capital for the next several years.",
    "output": "[Cause] the acquisitions [Relation] cause [Effect] GTT's invested capital base increasing eightfold over the last five years",
    "gold": "[Cause] the acquisitions [Relation] cause [Effect] GTT's invested capital base increasing eightfold over the last five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Still, the acquisitions have led to GTT's invested capital base increasing eightfold over the last five years, and we don't project the firm to earn excess returns on that capital for the next several years.",
    "output": "[Cause] the acquisitions [Relation] cause [Effect] GTT's invested capital base increasing eightfold over the last five years",
    "gold": "[Cause] GTT's invested capital base increasing eightfold over the last five years [Relation] cause [Effect] we don't project the firm to earn excess returns on that capital for the next several years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Even after accounting for its more negligible share position at present, we would've expected Hain's positioning in the natural and organic aisle to result in price premiums, but this has not played out.",
    "output": "[Cause] accounting for its more negligible share position at present [Relation] cause [Effect] we would've expected Hain's positioning in the natural and organic aisle to result in price premiums",
    "gold": "[Cause]  accounting for its more negligible share position at present [Relation] cause [Effect]  we would've expected Hain's positioning in the natural and organic aisle to result in price premiums",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management's objective is to increase revenue to just under EUR 5.0 billion in 2022, but this target will likely be lowered owing to the COVID-19 outbreak.",
    "output": "[Cause] the COVID-19 outbreak [Relation] cause [Effect] this target will likely be lowered",
    "gold": "[Cause] the COVID-19 outbreak [Relation] cause [Effect]  this target will likely be lowered",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think a temporary shutdown is possible as operator Energy Transfer appeals a July 2020 ruling invalidating DAPL's environmental permit.",
    "output": "[Cause] operator Energy Transfer appeals a July 2020 ruling invalidating DAPL's environmental permit [Relation] cause [Effect] a temporary shutdown is possible",
    "gold": "[Cause] operator Energy Transfer appeals a July 2020 ruling invalidating DAPL's environmental permit [Relation] cause [Effect] a temporary shutdown is possible",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While there's a remote possibility of a full ban on EtO plants, we think Steris would be prepared for a transition to alternative methods, given its strong financial position and sterilization expertise.",
    "output": "[Cause] its strong financial position and sterilization expertise [Relation] cause [Effect] Steris would be prepared for a transition to alternative methods",
    "gold": "[Cause] its strong financial position and sterilization expertise [Relation] enable [Effect]  Steris would be prepared for a transition to alternative methods",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Costco has long featured a high renewal rate for its memberships, which we believe is a function of the values offered and contributes to its intangible asset advantage.",
    "output": "[Cause] the values offered [Relation] cause [Effect] Costco has long featured a high renewal rate for its memberships",
    "gold": "[Cause] a function of the values offered [Relation] cause [Effect] its intangible asset advantage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Costco has long featured a high renewal rate for its memberships, which we believe is a function of the values offered and contributes to its intangible asset advantage.",
    "output": "[Cause] a function of the values offered [Relation] cause [Effect] contributes to its intangible asset advantage",
    "gold": "[Cause] a function of the values offered [Relation] enable [Effect] Costco has long featured a high renewal rate for its memberships",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We project revenue growth of about 5% per year for the next 10 years, driven by low penetration rate in Macao, the emerging middle and upper class in China, increased infrastructure offering Chinese tourists easier access to Macao.",
    "output": "[Cause] low penetration rate in Macao, the emerging middle and upper class in China [Relation] cause [Effect] revenue growth of about 5% per year for the next 10 years",
    "gold": "[Cause] low penetration rate in Macao, the emerging middle and upper class in China [Relation] enable [Effect] revenue growth of about 5% per year for the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project revenue growth of about 5% per year for the next 10 years, driven by low penetration rate in Macao, the emerging middle and upper class in China, increased infrastructure offering Chinese tourists easier access to Macao.",
    "output": "[Cause] low penetration rate in Macao, the emerging middle and upper class in China, increased infrastructure offering Chinese tourists easier access to Macao [Relation] cause [Effect] revenue growth of about 5% per year for the next 10 years",
    "gold": "[Cause] revenue growth of about 5% per year for the next 10 years [Relation] cause [Effect] increased infrastructure offering Chinese tourists easier access to Macao",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "BioNTech's internal discovery platform is focused on mRNA, including off-the-shelf and personalized mRNA drugs, but opportunistic acquisitions have brought in targeted antibodies and cell therapies as well. As such, BioNTech is not overly reliant on any one key drug candidate or drug class at this point, and it is poised to tackle cancer via many different mechanisms.",
    "output": "[Cause] BioNTech's internal discovery platform is focused on mRNA, including off-the-shelf and personalized mRNA drugs, but opportunistic acquisitions have brought in targeted antibodies and cell therapies as well [Relation] cause [Effect] BioNTech is not overly reliant on any one key drug candidate or drug class at this point, and it is poised to tackle cancer via many different mechanisms",
    "gold": "[Cause] BioNTech's internal discovery platform is focused on mRNA, including off-the-shelf and personalized mRNA drugs, but opportunistic acquisitions have brought in targeted antibodies and cell therapies as well [Relation] cause [Effect] BioNTech is not overly reliant on any one key drug candidate or drug class at this point, and it is poised to tackle cancer via many different mechanisms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Similarly, after it scaled up its power chip capabilities by acquiring Fairchild, we believe the firm has a cost advantage similar to that of competitor Infineon.",
    "output": "[Cause] it scaled up its power chip capabilities by acquiring Fairchild [Relation] cause [Effect] the firm has a cost advantage similar to that of competitor Infineon",
    "gold": "[Cause] acquiring Fairchild [Relation] enable [Effect]  it scaled up its power chip capabilities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we generally are skeptical about the economics of such businesses, we see Uniti as better positioned than many competitors because it focuses on second and third-tier cities, where we don't think competition is quite as intense.",
    "output": "[Cause] it focuses on second and third-tier cities, where we don't think competition is quite as intense [Relation] cause [Effect] we see Uniti as better positioned than many competitors",
    "gold": "[Cause] it focuses on second and third-tier cities, where we don't think competition is quite as intense [Relation] cause [Effect]  we see Uniti as better positioned than many competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This implicit contract between regulators and the utility should, in the long run, allow NJR to earn a small spread over its cost of capital.",
    "output": "[Cause] This implicit contract between regulators and the utility [Relation] enable [Effect] NJR to earn a small spread over its cost of capital",
    "gold": "[Cause] This implicit contract between regulators and the utility [Relation] enable [Effect]  NJR to earn a small spread over its cost of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Mattel's operating margins and returns on invested capital could rise as the firm's structural simplification and asset light efforts continue to bear fruit; optimizing the cost base is key to achieving improved profit, and a strategy focused on key brands could stimulate sales.",
    "output": "[Cause] the firm's structural simplification and asset light efforts continue to bear fruit [Relation] cause [Effect] Mattel's operating margins and returns on invested capital could rise",
    "gold": "[Cause] optimizing the cost base [Relation] enable [Effect] is key to achieving improved profit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe Mattel's operating margins and returns on invested capital could rise as the firm's structural simplification and asset light efforts continue to bear fruit; optimizing the cost base is key to achieving improved profit, and a strategy focused on key brands could stimulate sales.",
    "output": "[Cause] optimizing the cost base [Relation] enable [Effect] achieving improved profit",
    "gold": "[Cause] a strategy focused on key brands [Relation] enable [Effect] could stimulate sales",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe Mattel's operating margins and returns on invested capital could rise as the firm's structural simplification and asset light efforts continue to bear fruit; optimizing the cost base is key to achieving improved profit, and a strategy focused on key brands could stimulate sales.",
    "output": "[Cause] optimizing the cost base [Relation] enable [Effect] achieving improved profit",
    "gold": "[Cause]  the firm's structural simplification and asset light efforts continue to bear fruit [Relation] cause [Effect]  Mattel's operating margins and returns on invested capital could rise",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Both it and Phillips 66 aim to mitigate prospective volatility from these impacts through minimum volume commitments and inflation escalators on a significant portion of partnership assets.",
    "output": "[Cause] minimum volume commitments and inflation escalators on a significant portion of partnership assets [Relation] enable [Effect] mitigate prospective volatility from these impacts",
    "gold": "[Cause] minimum volume commitments and inflation escalators on a significant portion of partnership assets [Relation] cause [Effect] mitigate prospective volatility from these impacts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the past decade, developed economies have introduced more stringent emissions standards, and some have gone as far as saying they expect to be carbon neutral in the next thirty years. This will in turn push numerous industries, including the truck manufacturing industry to develop more environmentally friendly products to meet regulatory requirements.",
    "output": "[Cause] developed economies have introduced more stringent emissions standards, and some have gone as far as saying they expect to be carbon neutral in the next thirty years [Relation] cause [Effect] in turn push numerous industries, including the truck manufacturing industry to develop more environmentally friendly products to meet regulatory requirements",
    "gold": "[Cause] developed economies have introduced more stringent emissions standards, and some have gone as far as saying they expect to be carbon neutral in the next thirty years [Relation] cause [Effect]  in turn push numerous industries, including the truck manufacturing industry to develop more environmentally friendly products to meet regulatory requirements",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Telenor expanded into emerging markets earlier than many European telecom operators, positioning itself to benefit from a geographically diverse footprint.",
    "output": "[Cause] Telenor expanded into emerging markets earlier than many European telecom operators [Relation] enable [Effect] positioning itself to benefit from a geographically diverse footprint",
    "gold": "[Cause] a geographically diverse footprint [Relation] enable [Effect] Telenor expanded into emerging markets earlier than many European telecom operators",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As consumers become more averse to fossil fuels, the reputational risk grows for producers and the probability of widespread substitution away from fossil fuels increases.",
    "output": "[Cause] consumers become more averse to fossil fuels [Relation] cause [Effect] the reputational risk grows for producers and the probability of widespread substitution away from fossil fuels increases",
    "gold": "[Cause] consumers become more averse to fossil fuels [Relation] cause [Effect] the reputational risk grows for producers and the probability of widespread substitution away from fossil fuels increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we anticipate an increase in returns and cost-saving synergies realized within four years, the returns will nevertheless be partially diluted by goodwill due to the 30% premium Icon is paying for PRA.",
    "output": "[Cause] the 30% premium Icon is paying for PRA [Relation] cause [Effect] the returns will nevertheless be partially diluted by goodwill",
    "gold": "[Cause] the 30% premium Icon is paying for PRA [Relation] cause [Effect] the returns will nevertheless be partially diluted by goodwill",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Second, the vertically integrated nature of the company allows CRH to capture a greater share of the customer's wallet with little incremental capital and is thus likely to be value-neutral despite diluting the group's overall margin profile.",
    "output": "[Cause] the vertically integrated nature of the company [Relation] enable [Effect] CRH to capture a greater share of the customer's wallet with little incremental capital",
    "gold": "[Cause] allows CRH to capture a greater share of the customer's wallet with little incremental capital [Relation] enable [Effect] likely to be value-neutral",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Similarly, increases in the amount of data companies can push through a given fiber connection result in fewer necessary cross connects for the same amount of traffic.",
    "output": "[Cause] increases in the amount of data companies can push through a given fiber connection [Relation] cause [Effect] fewer necessary cross connects for the same amount of traffic",
    "gold": "[Cause] increases in the amount of data companies can push through a given fiber connection [Relation] cause [Effect] fewer necessary cross connects for the same amount of traffic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect selling and marketing costs to decrease from 32.5% of sales to 21% in 2030 due to the one-time nature of its multifamily advertising campaigns.",
    "output": "[Cause] the one-time nature of its multifamily advertising campaigns [Relation] cause [Effect] selling and marketing costs to decrease from 32.5% of sales to 21% in 2030",
    "gold": "[Cause] the one-time nature of its multifamily advertising campaigns [Relation] cause [Effect]  selling and marketing costs to decrease from 32.5% of sales to 21% in 2030",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, crop prices, which take their cues from demand and weather, shape farmer incomes, which in turn determine fertilizer purchases for a given year.",
    "output": "[Cause] crop prices [Relation] cause [Effect] farmer incomes",
    "gold": "[Cause] crop prices [Relation] cause [Effect] farmer incomes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company could also face more downward pressure on gross margin if more ad agencies partake in the negotiation, campaign design, and launch processes on behalf of their clients.",
    "output": "[Cause] more ad agencies partake in the negotiation, campaign design, and launch processes on behalf of their clients [Relation] cause [Effect] The company could also face more downward pressure on gross margin",
    "gold": "[Cause]  more ad agencies partake in the negotiation, campaign design, and launch processes on behalf of their clients [Relation] cause [Effect] The company could also face more downward pressure on gross margin",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the market for discrete GPUs in PCs somewhat stagnated, as most PCs utilize integrated graphics chips from Intel, Nvidia has benefited from a resurgence for high-end GPUs driven by the growing enthusiast PC gaming space.",
    "output": "[Cause] the growing enthusiast PC gaming space [Relation] cause [Effect] Nvidia has benefited from a resurgence for high-end GPUs",
    "gold": "[Cause] market for discrete GPUs in PCs somewhat stagnated [Relation] prevent [Effect] most PCs utilize integrated graphics chips from Inte",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A risk is a downturn in travel and leisure demand, driven by either macroeconomic/geopolitical factors, through government regulation, or an airborne illness like the coronavirus.",
    "output": "[Cause] either macroeconomic/geopolitical factors, through government regulation, or an airborne illness like the coronavirus [Relation] cause [Effect] A risk is a downturn in travel and leisure demand",
    "gold": "[Cause] either macroeconomic/geopolitical factors, through government regulation, or an airborne illness like the coronavirus [Relation] cause [Effect] A risk is a downturn in travel and leisure demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With Paylocity reporting that it gets 50% of new customers from one of the two large incumbents, we think the technology differentiation is an important reason the company is taking customers.",
    "output": "[Cause] Paylocity reporting that it gets 50% of new customers from one of the two large incumbents [Relation] cause [Effect] the technology differentiation is an important reason the company is taking customers",
    "gold": "[Cause]  the technology differentiation [Relation] cause [Effect] the company is taking customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, aggressive cost-reduction efforts lead us to lower our 10-year average selling, general, and administrative expenses, excluding depreciation and amortization, as a percentage of sales to 14% from 19%.",
    "output": "[Cause] aggressive cost-reduction efforts [Relation] cause [Effect] lower our 10-year average selling, general, and administrative expenses, excluding depreciation and amortization, as a percentage of sales to 14% from 19%",
    "gold": "[Cause] aggressive cost-reduction efforts [Relation] cause [Effect] lower our 10-year average selling, general, and administrative expenses, excluding depreciation and amortization, as a percentage of sales to 14% from 19%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nonetheless, our latest revised projections remain at the upper end of consensus as we believe management can execute on its strategic plan, though we give no credit for unannounced acquisitions.",
    "output": "[Cause] we believe management can execute on its strategic plan [Relation] cause [Effect] our latest revised projections remain at the upper end of consensus",
    "gold": "[Cause]  we believe management can execute on its strategic plan [Relation] enable [Effect] our latest revised projections remain at the upper end of consensus",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "FiOS customer growth has stagnated in recent years as Verizon's focus has shifted primarily to wireless, allowing Cablevision to hold customer penetration relatively stable at around 60% of homes passed, still modestly better than most cable peers.",
    "output": "[Cause] Verizon's focus has shifted primarily to wireless [Relation] enable [Effect] FiOS customer growth has stagnated in recent years",
    "gold": "[Cause] Verizon's focus has shifted primarily to wireless [Relation] enable [Effect] allowing Cablevision to hold customer penetration relatively stable at around 60% of homes passed, still modestly better than most cable peers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, we expect overall operating margins will expand to 20.9% in 2024 from 19.7% in 2019 as the firm gains leverage on selling, general, and administrative as well as research and development expenses.",
    "output": "[Cause] the firm gains leverage on selling, general, and administrative as well as research and development expenses [Relation] cause [Effect] overall operating margins will expand to 20.9% in 2024 from 19.7% in 2019",
    "gold": "[Cause] the firm gains leverage on selling, general, and administrative as well as research and development expenses [Relation] cause [Effect] overall operating margins will expand to 20.9% in 2024 from 19.7% in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Once again, Agco is challenged by its overlapping brands, which, in some cases, lead to similar products from its different brands being marketed in the same region.",
    "output": "[Cause] Agco is challenged by its overlapping brands [Relation] cause [Effect] similar products from its different brands being marketed in the same region",
    "gold": "[Cause]  Agco is challenged by its overlapping brands [Relation] cause [Effect] similar products from its different brands being marketed in the same region",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume Dupixent sales peak around $10 billion, as we expect rapid uptake and long patent protection (now through 2031) but strong long-term competition in atopic dermatitis and asthma.",
    "output": "[Cause] rapid uptake and long patent protection (now through 2031) but strong long-term competition in atopic dermatitis and asthma [Relation] cause [Effect] Dupixent sales peak around $10 billion",
    "gold": "[Cause] Dupixent sales peak around $10 billion [Relation] cause [Effect]  rapid uptake and long patent protection",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Rather than full-price retailers' fixed store maps, Burlington's low-frills store environment enables it to be more flexible, with loosely defined departments that can expand and contract as demand and product availability warrant.",
    "output": "[Cause] Burlington's low-frills store environment [Relation] enable [Effect] it to be more flexible, with loosely defined departments that can expand and contract as demand and product availability warrant",
    "gold": "[Cause] Burlington's low-frills store environment [Relation] enable [Effect] it to be more flexible, with loosely defined departments that can expand and contract as demand and product availability warrant",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As with most E&P firms, a deteriorating outlook for oil and natural gas prices would pressure EOG's profitability, reduce its cash flows, and drive up financial leverage.",
    "output": "[Cause] a deteriorating outlook for oil and natural gas prices [Relation] cause [Effect] pressure EOG's profitability, reduce its cash flows, and drive up financial leverage",
    "gold": "[Cause]  a deteriorating outlook for oil and natural gas prices [Relation] cause [Effect] pressure EOG's profitability, reduce its cash flows, and drive up financial leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are reaffirming our $53 per share fair value estimate after incorporating year-to-date results and operating updates that are in line with our full-year expectations.",
    "output": "[Cause] incorporating year-to-date results and operating updates that are in line with our full-year expectations [Relation] cause [Effect] We are reaffirming our $53 per share fair value estimate",
    "gold": "[Cause] incorporating year-to-date results and operating updates that are in line with our full-year expectations [Relation] cause [Effect] We are reaffirming our $53 per share fair value estimate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nevertheless, we believe this introduces more leverage to the operating profile longer term, and ongoing optimization initiatives for crucial functions like cash handling at Oxxo as well as harmonization of back-end systems in health and fuel should allow each management team to run a leaner cost structure.",
    "output": "[Cause] ongoing optimization initiatives for crucial functions like cash handling at Oxxo as well as harmonization of back-end systems in health and fuel [Relation] enable [Effect] each management team to run a leaner cost structure",
    "gold": "[Cause] ongoing optimization initiatives for crucial functions like cash handling at Oxxo as well as harmonization of back-end systems in health and fuel [Relation] enable [Effect] each management team to run a leaner cost structure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In most metro areas, food and beverage producers are typically served by only two or three can companies, and the entry of an additional competitor would probably impair the profitability of all three facilities.",
    "output": "[Cause] the entry of an additional competitor [Relation] prevent [Effect] the profitability of all three facilities",
    "gold": "[Cause] the entry of an additional competitor [Relation] prevent [Effect] the profitability of all three facilities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While patent protection may not completely deter a competitor, as product solutions sometimes have multiple engineering possibilities, the possession of patented technologies makes competitors' task of engineering an alternate solution more difficult.",
    "output": "[Cause] product solutions sometimes have multiple engineering possibilities [Relation] cause [Effect] patent protection may not completely deter a competitor",
    "gold": "[Cause] product solutions sometimes have multiple engineering possibilities [Relation] enable [Effect] patent protection may not completely deter a competitor",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While patent protection may not completely deter a competitor, as product solutions sometimes have multiple engineering possibilities, the possession of patented technologies makes competitors' task of engineering an alternate solution more difficult.",
    "output": "[Cause] the possession of patented technologies [Relation] cause [Effect] competitors' task of engineering an alternate solution more difficult",
    "gold": "[Cause] the possession of patented technologies [Relation] cause [Effect]  competitors' task of engineering an alternate solution more difficult",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the large amount of user data, Baidu can provide personalized advertising strategies so that advertisers can generate higher returns on investment on their adverts.",
    "output": "[Cause] the large amount of user data [Relation] enable [Effect] Baidu can provide personalized advertising strategies",
    "gold": "[Cause] advertisers can generate higher returns on investment on their adverts [Relation] enable [Effect] provide personalized advertising strategies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Televisa's programming helps the channels dominate ratings as the firm produces over 87,000 hours of content such as telenovelas, newscasts, and nonfiction programming.",
    "output": "[Cause] the firm produces over 87,000 hours of content [Relation] cause [Effect] Televisa's programming helps the channels dominate ratings",
    "gold": "[Cause] the firm produces over 87,000 hours of content [Relation] cause [Effect] Televisa's programming helps the channels dominate ratings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the embedded nature of software systems in buy-side operations, the decision to switch providers is not taken lightly as implementations can be hard and complex.",
    "output": "[Cause] the embedded nature of software systems in buy-side operations [Relation] cause [Effect] the decision to switch providers is not taken lightly",
    "gold": "[Cause]  the embedded nature of software systems in buy-side operations [Relation] enable [Effect] the decision to switch providers is not taken lightly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the embedded nature of software systems in buy-side operations, the decision to switch providers is not taken lightly as implementations can be hard and complex.",
    "output": "[Cause] implementations can be hard and complex [Relation] cause [Effect] the decision to switch providers is not taken lightly",
    "gold": "[Cause]  implementations can be hard and complex [Relation] cause [Effect] the decision to switch providers is not taken lightly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a vast customer base of over 100,000 businesses and renowned product leadership for existing threat technology, we believe Check Point's consolidated security architecture provides ample upsell and cross-selling opportunities as enterprises increase their reliance on cloud-based products and distributed networking.",
    "output": "[Cause] enterprises increase their reliance on cloud-based products and distributed networking [Relation] cause [Effect] Check Point's consolidated security architecture provides ample upsell and cross-selling opportunities",
    "gold": "[Cause] enterprises increase their reliance on cloud-based products and distributed networking [Relation] enable [Effect] Check Point's consolidated security architecture provides ample upsell and cross-selling opportunities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The exclusivity of the x86 license serves as a major barrier to entry for other chipmakers (such as Qualcomm, Broadcom, etc.) that cannot make an x86 processor without a license.",
    "output": "[Cause] The exclusivity of the x86 license [Relation] prevent [Effect] entry for other chipmakers",
    "gold": "[Cause] cannot make an x86 processor without a license [Relation] cause [Effect] The exclusivity of the x86 license serves as a major barrier to entry for other chipmakers (such as Qualcomm, Broadcom, etc.)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Its aggressive roll-up strategy has fostered superior route density at the local level that gives Stericycle a cost advantage over smaller rivals.",
    "output": "[Cause] Its aggressive roll-up strategy has fostered superior route density at the local level [Relation] enable [Effect] Stericycle a cost advantage over smaller rivals",
    "gold": "[Cause] Its aggressive roll-up strategy has fostered superior route density at the local level [Relation] enable [Effect] Stericycle a cost advantage over smaller rivals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While GE industrial net debt/EBITDA remains high, we think that the eventual aerospace recovery and continuous improvement initiatives will help drive this figure below 2.5 times by 2023.",
    "output": "[Cause] the eventual aerospace recovery and continuous improvement initiatives [Relation] enable [Effect] drive this figure below 2.5 times by 2023",
    "gold": "[Cause] GE industrial net debt/EBITDA remains high [Relation] cause [Effect] the eventual aerospace recovery and continuous improvement initiatives will help drive this figure below 2.5 times by 2023",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While GE industrial net debt/EBITDA remains high, we think that the eventual aerospace recovery and continuous improvement initiatives will help drive this figure below 2.5 times by 2023.",
    "output": "[Cause] the eventual aerospace recovery and continuous improvement initiatives [Relation] enable [Effect] drive this figure below 2.5 times by 2023",
    "gold": "[Cause] the eventual aerospace recovery and continuous improvement initiatives [Relation] enable [Effect] drive this figure below 2.5 times by 2023",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2020, Nasdaq's exchange operations should get a significant one-time boost from higher trading activity as volume has benefited from greater volatility.",
    "output": "[Cause] volume has benefited from greater volatility [Relation] cause [Effect] Nasdaq's exchange operations should get a significant one-time boost from higher trading activity",
    "gold": "[Cause]  volume has benefited from greater volatility [Relation] cause [Effect] Nasdaq's exchange operations should get a significant one-time boost from higher trading activity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, there is intense competition for high-quality assets in strong markets with these positive demand drivers, forcing Equity Residential to pay a high price for a portfolio with these features.",
    "output": "[Cause] there is intense competition for high-quality assets in strong markets with these positive demand drivers [Relation] cause [Effect] forcing Equity Residential to pay a high price for a portfolio with these features",
    "gold": "[Cause] there is intense competition for high-quality assets in strong markets with these positive demand drivers [Relation] cause [Effect] forcing Equity Residential to pay a high price for a portfolio with these features",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to the sale of its Asia brake control business as well as coronavirus-induced industrywide factory closures, 2020 revenue declined 28%, but we forecast an 18% rebound in 2021 as backlog starts to ramp-up, with a return to normalized light vehicle demand in 2023.",
    "output": "[Cause] the sale of its Asia brake control business as well as coronavirus-induced industrywide factory closures [Relation] cause [Effect] 2020 revenue declined 28%",
    "gold": "[Cause] the sale of its Asia brake control business as well as coronavirus-induced industrywide factory closures [Relation] prevent [Effect] 2020 revenue declined 28%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to the sale of its Asia brake control business as well as coronavirus-induced industrywide factory closures, 2020 revenue declined 28%, but we forecast an 18% rebound in 2021 as backlog starts to ramp-up, with a return to normalized light vehicle demand in 2023.",
    "output": "[Cause] backlog starts to ramp-up [Relation] cause [Effect] an 18% rebound in 2021",
    "gold": "[Cause] backlog starts to ramp-up [Relation] cause [Effect] with a return to normalized light vehicle demand in 2023",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The rise of artificial intelligence has also unleashed a new competitor in Nvidia for specialized chips to accelerate AI-related workloads.",
    "output": "[Cause] specialized chips [Relation] enable [Effect] accelerate AI-related workloads",
    "gold": "[Cause] specialized chips [Relation] cause [Effect] accelerate AI-related workloads",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Few of Johnson Controls' competitors offer such a comprehensive suite of commercial building systems and related services. As such, there are few alternatives for building operators that value Johnson Controls' one-stop-shop approach and prefer to use one firm's equipment and services for its key building systems.",
    "output": "[Cause] Few of Johnson Controls' competitors offer such a comprehensive suite of commercial building systems and related services [Relation] cause [Effect] there are few alternatives for building operators that value Johnson Controls' one-stop-shop approach and prefer to use one firm's equipment and services for its key building systems",
    "gold": "[Cause] Few of Johnson Controls' competitors offer such a comprehensive suite of commercial building systems and related services [Relation] cause [Effect] there are few alternatives for building operators that value Johnson Controls' one-stop-shop approach and prefer to use one firm's equipment and services for its key building systems",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a strong reputation in the research model space, Charles River took advantage of its quality brand to pursue preclinical testing as the biopharma industry has increased the level of outsourced research.",
    "output": "[Cause] the biopharma industry has increased the level of outsourced research [Relation] cause [Effect] Charles River took advantage of its quality brand to pursue preclinical testing",
    "gold": "[Cause] the biopharma industry has increased the level of outsourced research [Relation] cause [Effect] Charles River took advantage of its quality brand to pursue preclinical testing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a strong reputation in the research model space, Charles River took advantage of its quality brand to pursue preclinical testing as the biopharma industry has increased the level of outsourced research.",
    "output": "[Cause] the biopharma industry has increased the level of outsourced research [Relation] cause [Effect] Charles River took advantage of its quality brand to pursue preclinical testing",
    "gold": "[Cause] a strong reputation in the research model space [Relation] cause [Effect] Charles River took advantage of its quality brand to pursue preclinical testing",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Overview of China's Education Industry's Key Regulatory Requirements:The China education sector is highly influenced by the government policies, given any tightened governmental regulations may impacted the share price performance of the whole education sectors.",
    "output": "[Cause] any tightened governmental regulations may impacted the share price performance of the whole education sectors [Relation] cause [Effect] The China education sector is highly influenced by the government policies",
    "gold": "[Cause] any tightened governmental regulations may impacted the share price performance of the whole education sectors [Relation] cause [Effect] The China education sector is highly influenced by the government policies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These digital offerings are tailored to reach an estimated population of 4.5 million unbanked Chilean citizens and have contributed to growth in demand deposits that outpaced the rest of the Chilean banking system combined through the first seven months of 2020. As a result, Santander has benefited from a steadily falling cost of deposits, seeing more noninterest-bearing deposit accounts than time deposits for the first time in the bank's history.",
    "output": "[Cause] These digital offerings are tailored to reach an estimated population of 4.5 million unbanked Chilean citizens and have contributed to growth in demand deposits that outpaced the rest of the Chilean banking system combined through the first seven months of 2020 [Relation] cause [Effect] Santander has benefited from a steadily falling cost of deposits, seeing more noninterest-bearing deposit accounts than time deposits for the first time in the bank's history",
    "gold": "[Cause] These digital offerings are tailored to reach an estimated population of 4.5 million unbanked Chilean citizens and have contributed to growth in demand deposits that outpaced the rest of the Chilean banking system combined through the first seven months of 2020 [Relation] cause [Effect] Santander has benefited from a steadily falling cost of deposits, seeing more noninterest-bearing deposit accounts than time deposits for the first time in the bank's history",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, like other international apparel manufacturers, it is subject to criticism over the treatment of workers in its supply chain.",
    "output": "[Cause] the treatment of workers in its supply chain [Relation] cause [Effect] it is subject to criticism",
    "gold": "[Cause] the treatment of workers in its supply chain [Relation] cause [Effect] it is subject to criticism",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast nonresidential spending growth to slow to 4% in the longer term, as we expect many sectors to make more efficient use of their construction spending.",
    "output": "[Cause] many sectors to make more efficient use of their construction spending [Relation] cause [Effect] nonresidential spending growth to slow to 4% in the longer term",
    "gold": "[Cause] many sectors to make more efficient use of their construction spending [Relation] enable [Effect] nonresidential spending growth to slow to 4% in the longer term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're raising our fair value estimate to $169 per share from $164 after slightly adjusting our estimates to reflect stronger-than-expected demand for capital goods continuing into 2021 and the time value of money.",
    "output": "[Cause] slightly adjusting our estimates [Relation] enable [Effect] reflect stronger-than-expected demand for capital goods continuing into 2021 and the time value of money",
    "gold": "[Cause] slightly adjusting our estimates to reflect stronger-than-expected demand for capital goods continuing into 2021 and the time value of money [Relation] cause [Effect] We're raising our fair value estimate to $169 per share from $164",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Through strategic partnerships, Walgreens has consciously shared pricing information to improve transparency, drive traffic and negotiate payer relationships. These complimentary services also increase cross selling opportunities and key partnerships serve different purposes and include AmerisourceBergen (distribution), Prime Therapeutics LLC (Specialty PBM), Humana (payer), LabCorp, Kroger (grocer), United Healthcare (payer), and Village MD (provider).",
    "output": "[Cause] Walgreens has consciously shared pricing information to improve transparency, drive traffic and negotiate payer relationships [Relation] enable [Effect] increase cross selling opportunities and key partnerships serve different purposes and include AmerisourceBergen (distribution), Prime Therapeutics LLC (Specialty PBM), Humana (payer), LabCorp, Kroger (grocer), United Healthcare (payer), and Village MD (provider)",
    "gold": "[Cause] Walgreens has consciously shared pricing information to improve transparency, drive traffic and negotiate payer relationships [Relation] enable [Effect]  increase cross selling opportunities and key partnerships serve different purposes and include AmerisourceBergen (distribution), Prime Therapeutics LLC (Specialty PBM), Humana (payer), LabCorp, Kroger (grocer), United Healthcare (payer), and Village MD (provider)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Companies that provide service deemed insufficient or too expensive, especially when competition is considered lacking, often face political and regulatory backlash.",
    "output": "[Cause] provide service deemed insufficient or too expensive, especially when competition is considered lacking [Relation] cause [Effect] face political and regulatory backlash",
    "gold": "[Cause] provide service deemed insufficient or too expensive, especially when competition is considered lacking [Relation] enable [Effect] face political and regulatory backlash",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Changes from ASC 606 adoption and two large acquisitions in the second half of fiscal 2018 hurt margins modestly in fiscal 2019, but we expect a continued improvement over time.",
    "output": "[Cause] Changes from ASC 606 adoption and two large acquisitions in the second half of fiscal 2018 hurt margins modestly in fiscal 2019 [Relation] cause [Effect] a continued improvement over time",
    "gold": "[Cause] Changes from ASC 606 adoption and two large acquisitions in the second half of fiscal 2018 hurt margins modestly in fiscal 2019, but we expect a continued improvement over time. [Relation] cause [Effect]  hurt margins modestly in fiscal 2019",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect a slow sales decline in Italy in the next years, mostly due to the ongoing decline in traditional services and intense competition in the low end of the mobile market.",
    "output": "[Cause] the ongoing decline in traditional services and intense competition in the low end of the mobile market [Relation] cause [Effect] a slow sales decline in Italy in the next years",
    "gold": "[Cause] the ongoing decline in traditional services and intense competition in the low end of the mobile market [Relation] cause [Effect] a slow sales decline in Italy in the next years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Before the financial crisis, aftermarket servicing was generally under 15% of segment sales, but the company grew aftermarket sales to over 30% of aviation sales with its push into higher-value products.",
    "output": "[Cause] its push into higher-value products [Relation] enable [Effect] the company grew aftermarket sales to over 30% of aviation sales",
    "gold": "[Cause] its push into higher-value products [Relation] cause [Effect] the company grew aftermarket sales to over 30% of aviation sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, the crunch dissipated and TL rates corrected sharply in 2019, driving down intermodal's value proposition relative to trucking.",
    "output": "[Cause] the crunch dissipated and TL rates corrected sharply in 2019 [Relation] cause [Effect] driving down intermodal's value proposition relative to trucking",
    "gold": "[Cause] the crunch dissipated and TL rates corrected sharply in 2019 [Relation] cause [Effect] driving down intermodal's value proposition relative to trucking",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project diminished revenue generation in 2021 and 2022 as changes in asset mix and lower interest rates compress the bank's net interest margins.",
    "output": "[Cause] changes in asset mix and lower interest rates compress the bank's net interest margins [Relation] cause [Effect] diminished revenue generation in 2021 and 2022",
    "gold": "[Cause] changes in asset mix and lower interest rates compress the bank's net interest margins [Relation] cause [Effect] diminished revenue generation in 2021 and 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Regarding Alphabet's more futuristic projects, although most are not yet generating revenue, the upside is attractive if they succeed, as the firm is targeting newer markets.",
    "output": "[Cause] the firm is targeting newer markets [Relation] cause [Effect] the upside is attractive if they succeed",
    "gold": "[Cause]  the firm is targeting newer markets [Relation] cause [Effect]  the upside is attractive if they succeed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While switching from x86 to ARM is not impossible and does happen, we believe the bar that needs to be cleared is higher: the chip needs to be faster, more efficient, cheaper, and have the support to port over.",
    "output": "[Cause] the bar that needs to be cleared is higher [Relation] cause [Effect] the chip needs to be faster, more efficient, cheaper, and have the support to port over",
    "gold": "[Cause] the bar that needs to be cleared is higher: the chip needs to be faster, more efficient, cheaper, and have the support to port over [Relation] enable [Effect] switching from x86 to ARM is not impossible and does happen",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our opinion, BorgWarner is well positioned for the trends in the auto sector that will result in revenue growth in excess of the growth in global automobile demand.",
    "output": "[Cause] BorgWarner is well positioned for the trends in the auto sector [Relation] cause [Effect] revenue growth in excess of the growth in global automobile demand",
    "gold": "[Cause] BorgWarner is well positioned for the trends in the auto sector [Relation] cause [Effect] revenue growth in excess of the growth in global automobile demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the recent migration of wealth to urban centers has been a boon to Vornado Realty, these dynamics can reverse, with the potential to have a large effect on the company's fortunes.",
    "output": "[Cause] these dynamics can reverse [Relation] cause [Effect] the potential to have a large effect on the company's fortunes",
    "gold": "[Cause] migration of wealth to urban centers [Relation] cause [Effect] potential to have a large effect on the company's fortunes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Due to the requisite time and investment necessary, along with the margin profile of the nearest competitors, we do not view firms like WPG or Ingram Micro as immediate competitive threats, but we acknowledge that of the duopoly, Avnet is at greatest risk.",
    "output": "[Cause] the requisite time and investment necessary, along with the margin profile of the nearest competitors [Relation] cause [Effect] we do not view firms like WPG or Ingram Micro as immediate competitive threats",
    "gold": "[Cause]  the requisite time and investment necessary, along with the margin profile of the nearest competitors [Relation] cause [Effect] we do not view firms like WPG or Ingram Micro as immediate competitive threats",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Evercore's international presence allows the company to land cross-border financial advisory assignments that more domestically orientated financial advisory firms can't compete for.",
    "output": "[Cause] Evercore's international presence [Relation] enable [Effect] the company to land cross-border financial advisory assignments that more domestically orientated financial advisory firms can't compete for",
    "gold": "[Cause] Evercore's international presence [Relation] enable [Effect] the company to land cross-border financial advisory assignments that more domestically orientated financial advisory firms can't compete for",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the gaming space, Nvidia has taken advantage of AMD's weak positioning to capture the lion's share of the discrete GPU market.",
    "output": "[Cause] Nvidia has taken advantage of AMD's weak positioning [Relation] enable [Effect] capture the lion's share of the discrete GPU market",
    "gold": "[Cause] Nvidia has taken advantage of AMD's weak positioning [Relation] enable [Effect] capture the lion's share of the discrete GPU market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Samsung has diversified its chip supplier base, so Maxim is less reliant on Samsung going forward and is continuing to diversify by selling into Apple and other leading consumer electronics device makers.",
    "output": "[Cause] Samsung has diversified its chip supplier base [Relation] cause [Effect] Maxim is less reliant on Samsung going forward and is continuing to diversify by selling into Apple and other leading consumer electronics device makers",
    "gold": "[Cause] Samsung has diversified its chip supplier base [Relation] cause [Effect] Maxim is less reliant on Samsung going forward and is continuing to diversify by selling into Apple and other leading consumer electronics device makers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Though we are not explicitly forecasting any acquisitions, we think that in the event of a bank crisis, M&T's credit advantages would probably put the company in a good position to purchase and gain share.",
    "output": "[Cause] M&T's credit advantages [Relation] enable [Effect] put the company in a good position to purchase and gain share",
    "gold": "[Cause] M&T's credit advantages [Relation] enable [Effect] put the company in a good position to purchase and gain share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Switzerland is one of the world's most stable democracies, and its devolved, cantonal system of government limits the potential of populist extremist parties.",
    "output": "[Cause] its devolved, cantonal system of government [Relation] prevent [Effect] the potential of populist extremist parties",
    "gold": "[Cause]  its devolved, cantonal system of government limits the potential of populist extremist parties [Relation] enable [Effect] Switzerland is one of the world's most stable democracies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Beyond Meat was founded in 2009 by Ethan Brown, who reasoned that since the primary components of meat (amino acids, lipids, trace minerals, vitamins, and water) are also readily available in plants, the architecture of meat could be replicated with plant-based materials.",
    "output": "[Cause] the primary components of meat (amino acids, lipids, trace minerals, vitamins, and water) are also readily available in plants [Relation] cause [Effect] the architecture of meat could be replicated with plant-based materials",
    "gold": "[Cause] the primary components of meat (amino acids, lipids, trace minerals, vitamins, and water) are also readily available in plants [Relation] cause [Effect] the architecture of meat could be replicated with plant-based materials",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the near term, the company faces top-line headwinds in its retail fueling business due to the EMV liability shift deadline in April 2021.",
    "output": "[Cause] the EMV liability shift deadline in April 2021 [Relation] cause [Effect] the company faces top-line headwinds in its retail fueling business",
    "gold": "[Cause] the EMV liability shift deadline in April 2021 [Relation] cause [Effect]  the company faces top-line headwinds in its retail fueling business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The global restaurant sector has come under pressure as several markets have restricted dine-in service in an effort to curb the spread of COVID-19.",
    "output": "[Cause] several markets have restricted dine-in service in an effort to curb the spread of COVID-19 [Relation] cause [Effect] The global restaurant sector has come under pressure",
    "gold": "[Cause] several markets have restricted dine-in service [Relation] prevent [Effect]  the spread of COVID-19",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We project 6% average annual top-line growth through fiscal 2026, with recovery from the pandemic driving a 7% top-line growth in fiscal 2022 as procedure volume returns, followed by slightly more moderate growth in 2023-26.",
    "output": "[Cause] recovery from the pandemic [Relation] cause [Effect] a 7% top-line growth in fiscal 2022",
    "gold": "[Cause] recovery from the pandemic [Relation] enable [Effect]  a 7% top-line growth in fiscal 2022 | slightly more moderate growth in 2023-26",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe AutoNation's massive size and economy of scale advantages will allow the company to deliver operating margins at times above 4%, though not on an annual basis until its AutoNation USA stand-alone used-vehicle stores are more established.",
    "output": "[Cause] AutoNation's massive size and economy of scale advantages [Relation] enable [Effect] the company to deliver operating margins at times above 4%",
    "gold": "[Cause] AutoNation's massive size and economy of scale advantages [Relation] enable [Effect] the company to deliver operating margins at times above 4%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also believe Huntington's embedded relationships with more than 300 fully vetted franchise auto dealers throughout its 24-state footprint, as well as its complete product set specifically designed for this market segment, also support a pricing advantage in this market.",
    "output": "[Cause] Huntington's embedded relationships with more than 300 fully vetted franchise auto dealers throughout its 24-state footprint, as well as its complete product set specifically designed for this market segment [Relation] enable [Effect] support a pricing advantage in this market",
    "gold": "[Cause] Huntington's embedded relationships with more than 300 fully vetted franchise auto dealers throughout its 24-state footprint, as well as its complete product set specifically designed for this market segment [Relation] enable [Effect] support a pricing advantage in this market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, sustaining these results against lofty investor expectations will require nearly flawless execution as the firm continues to scale its supply chain, source new real estate opportunities, and enter new trade areas.",
    "output": "[Cause] the firm continues to scale its supply chain, source new real estate opportunities, and enter new trade areas [Relation] cause [Effect] sustaining these results against lofty investor expectations will require nearly flawless execution",
    "gold": "[Cause] the firm continues to scale its supply chain, source new real estate opportunities, and enter new trade areas [Relation] enable [Effect] sustaining these results against lofty investor expectations will require nearly flawless execution",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As demand normalizes with the recession of COVID-19, we expect throughput for home improvement products should depend mostly on changes in the real estate market, which are driven primarily by prices, interest rates, and turnover, given the maturity of the industry.",
    "output": "[Cause] demand normalizes with the recession of COVID-19 [Relation] cause [Effect] we expect throughput for home improvement products should depend mostly on changes in the real estate market",
    "gold": "[Cause] demand normalizes with the recession of COVID-19 [Relation] cause [Effect] we expect throughput for home improvement products should depend mostly on changes in the real estate market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The global restaurant sector has come under pressure as several markets have restricted service in an effort to curb the spread of the coronavirus.",
    "output": "[Cause] several markets have restricted service in an effort to curb the spread of the coronavirus [Relation] cause [Effect] The global restaurant sector has come under pressure",
    "gold": "[Cause] several markets have restricted service in an effort to curb the spread of the coronavirus [Relation] cause [Effect] The global restaurant sector has come under pressure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Annual contractual price reductions for OEM customers are an auto industry norm, so Magna has to aggressively employ kaizen, kanban, and Six Sigma Lean manufacturing programs to advance cost savings.",
    "output": "[Cause] Annual contractual price reductions for OEM customers are an auto industry norm [Relation] cause [Effect] Magna has to aggressively employ kaizen, kanban, and Six Sigma Lean manufacturing programs to advance cost savings",
    "gold": "[Cause] Annual contractual price reductions for OEM customers are an auto industry norm [Relation] cause [Effect] Magna has to aggressively employ kaizen, kanban, and Six Sigma Lean manufacturing programs to advance cost savings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Second, Coupa's Community Intelligence product is best-in-class in the P2P space, employing artificial intelligence (AI) capabilities on spend and supplier data to help generate cost savings and support operational efficiency.",
    "output": "[Cause] employing artificial intelligence (AI) capabilities on spend and supplier data [Relation] enable [Effect] generate cost savings and support operational efficiency",
    "gold": "[Cause] employing artificial intelligence (AI) capabilities on spend and supplier data [Relation] enable [Effect] generate cost savings and support operational efficiency",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "More mature companies look to spur growth and shore up pricing power with technological consolidation to offer OEMs more comprehensive solutions.",
    "output": "[Cause] spur growth and shore up pricing power with technological consolidation [Relation] enable [Effect] offer OEMs more comprehensive solutions",
    "gold": "[Cause]  spur growth and shore up pricing power with technological consolidation [Relation] enable [Effect] offer OEMs more comprehensive solutions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And as the pandemic persists into 2021, we think Norwegian find it difficult to grow prices beyond pre-COVID-19 levels, and are modeling per diem yields of around $244 in 2022 versus $257 in 2019.",
    "output": "[Cause] the pandemic persists into 2021 [Relation] cause [Effect] Norwegian find it difficult to grow prices beyond pre-COVID-19 levels, and are modeling per diem yields of around $244 in 2022 versus $257 in 2019",
    "gold": "[Cause] the pandemic persists into 2021 [Relation] cause [Effect] Norwegian find it difficult to grow prices beyond pre-COVID-19 levels, and are modeling per diem yields of around $244 in 2022 versus $257 in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We don't believe a switching cost advantage extends to the residential HVAC market because residential replacement costs are low compared with commercial systems.",
    "output": "[Cause] residential replacement costs are low compared with commercial systems [Relation] cause [Effect] We don't believe a switching cost advantage extends to the residential HVAC market",
    "gold": "[Cause]  residential replacement costs are low compared with commercial systems [Relation] cause [Effect] We don't believe a switching cost advantage extends to the residential HVAC market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As consumer preferences evolve, the pressure to provide a strong customer experience alongside low prices is intense, particularly as switching costs are limited.",
    "output": "[Cause] consumer preferences evolve [Relation] cause [Effect] the pressure to provide a strong customer experience alongside low prices is intense",
    "gold": "[Cause] switching costs are limited | consumer preferences evolve [Relation] cause [Effect] the pressure to provide a strong customer experience alongside low prices is intense",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Bausch's dermatology segment has been in decline since at least 2016, with annual sales falling from over $1 billion in 2015 to nearly $500 million in fiscal 2019. This drop was caused by loss of exclusivity for drugs that had been previously making meaningful contributions to the top line.",
    "output": "[Cause] loss of exclusivity for drugs that had been previously making meaningful contributions to the top line [Relation] cause [Effect] Bausch's dermatology segment has been in decline since at least 2016, with annual sales falling from over $1 billion in 2015 to nearly $500 million in fiscal 2019",
    "gold": "[Cause] loss of exclusivity for drugs that had been previously making meaningful contributions to the top line [Relation] cause [Effect] Bausch's dermatology segment has been in decline since at least 2016, with annual sales falling from over $1 billion in 2015 to nearly $500 million in fiscal 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In fact, the segment held market share in the first quarter for the first time in five years, as new products resonated with consumers.",
    "output": "[Cause] new products resonated with consumers [Relation] cause [Effect] the segment held market share in the first quarter for the first time in five years",
    "gold": "[Cause] new products resonated with consumers [Relation] cause [Effect]  the segment held market share in the first quarter for the first time in five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the event of a recall that is associated with design flaws or manufacturing issues, orthopedic firms typically rely on new engineering to address the underlying product issue, or they simply discontinue the product.",
    "output": "[Cause] new engineering [Relation] enable [Effect] address the underlying product issue",
    "gold": "[Cause] new engineering [Relation] enable [Effect] address the underlying product issue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This is predicated on its ability to leverage fixed costs over greater volumes due to its leading unit share and consequent high asset utilization, and more importantly, reduce variable costs per unit through advantageous raw material procurement for inputs like wood, malted barley, and agave.",
    "output": "[Cause] its leading unit share and consequent high asset utilization [Relation] cause [Effect] leverage fixed costs over greater volumes",
    "gold": "[Cause] advantageous raw material procurement for inputs [Relation] enable [Effect] reduce variable costs per unit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This is predicated on its ability to leverage fixed costs over greater volumes due to its leading unit share and consequent high asset utilization, and more importantly, reduce variable costs per unit through advantageous raw material procurement for inputs like wood, malted barley, and agave.",
    "output": "[Cause] advantageous raw material procurement for inputs like wood, malted barley, and agave [Relation] enable [Effect] reduce variable costs per unit",
    "gold": "[Cause] its leading unit share and consequent high asset utilization [Relation] enable [Effect] ability to leverage fixed costs over greater volumes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "But this growth trajectory could be lumpy as regulatory delays, wildfire issues, and California energy policy changes lead to shifts in spending and cost recovery.",
    "output": "[Cause] regulatory delays, wildfire issues, and California energy policy changes [Relation] cause [Effect] shifts in spending and cost recovery",
    "gold": "[Cause]  regulatory delays, wildfire issues, and California energy policy changes lead to shifts in spending and cost recovery [Relation] cause [Effect] this growth trajectory could be lumpy",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "But this growth trajectory could be lumpy as regulatory delays, wildfire issues, and California energy policy changes lead to shifts in spending and cost recovery.",
    "output": "[Cause] regulatory delays, wildfire issues, and California energy policy changes [Relation] cause [Effect] shifts in spending and cost recovery",
    "gold": "[Cause]  regulatory delays, wildfire issues, and California energy policy changes [Relation] enable [Effect] shifts in spending and cost recovery",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we expect higher wage and health care costs to more than offset $150 million to $170 million in identified operating expense savings attributed to revamping the firm's supply chain, reducing indirect spending, leveraging shared services, and continuing to optimize the salesforce. As such, we expect operating expense as a percentage of revenue to hold at 14.6%, slightly above the 14.5% realized in 2019.",
    "output": "[Cause] higher wage and health care costs to more than offset $150 million to $170 million in identified operating expense savings attributed to revamping the firm's supply chain, reducing indirect spending, leveraging shared services, and continuing to optimize the salesforce [Relation] cause [Effect] operating expense as a percentage of revenue to hold at 14.6%, slightly above the 14.5% realized in 2019",
    "gold": "[Cause] higher wage and health care costs to more than offset $150 million to $170 million in identified operating expense savings attributed to revamping the firm's supply chain, reducing indirect spending, leveraging shared services, and continuing to optimize the salesforce [Relation] cause [Effect] operating expense as a percentage of revenue to hold at 14.6%, slightly above the 14.5% realized in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast a 30% five-year sales CAGR driven by a prolifically expanding customer base, larger deal sizes, and resilient retention rates.",
    "output": "[Cause] a prolifically expanding customer base, larger deal sizes, and resilient retention rates [Relation] cause [Effect] a 30% five-year sales CAGR",
    "gold": "[Cause] a prolifically expanding customer base, larger deal sizes, and resilient retention rates [Relation] cause [Effect]  a 30% five-year sales CAGR",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Near-term results for Capital One will be severely impacted, due to its high card exposure and high payments exposure, which will result in higher charge-offs and lower payments volumes as the COVID-19-driven recession develops.",
    "output": "[Cause] Near-term results for Capital One will be severely impacted [Relation] cause [Effect] its high card exposure and high payments exposure",
    "gold": "[Cause] high card exposure and high payments exposure [Relation] cause [Effect] Near-term results for Capital One will be severely impacted",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Near-term results for Capital One will be severely impacted, due to its high card exposure and high payments exposure, which will result in higher charge-offs and lower payments volumes as the COVID-19-driven recession develops.",
    "output": "[Cause] Near-term results for Capital One will be severely impacted [Relation] cause [Effect] higher charge-offs and lower payments volumes as the COVID-19-driven recession develops",
    "gold": "[Cause] COVID-19-driven recession develops [Relation] cause [Effect] higher charge-offs and lower payments volumes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With Google's machine-learning technology, more requests made by current and/or new users improve relevancy of search results, creating value for users.",
    "output": "[Cause] Google's machine-learning technology [Relation] enable [Effect] more requests made by current and/or new users improve relevancy of search results, creating value for users",
    "gold": "[Cause] Google's machine-learning technology [Relation] cause [Effect] more requests made by current and/or new users improve relevancy of search results, creating value for users",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Operating margins should improve from increasing scale of the business and the growth of advisory and ancillary services, which tend to have higher margins than the pure brokerage business.",
    "output": "[Cause] increasing scale of the business and the growth of advisory and ancillary services [Relation] enable [Effect] Operating margins should improve",
    "gold": "[Cause]  increasing scale of the business and the growth of advisory and ancillary services [Relation] enable [Effect] Operating margins should improve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast continued subdued margins in Asian spread and fee income, improvement in profits as we see long-term demand for this product suite, and improvements in the expense margins.",
    "output": "[Cause] we see long-term demand for this product suite, and improvements in the expense margins [Relation] cause [Effect] continued subdued margins in Asian spread and fee income, improvement in profits",
    "gold": "[Cause]  long-term demand for this product suite [Relation] enable [Effect]  improvements in the expense margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Once again, by virtue of offering clients the ability to migrate to the cloud on their own terms through Azure, we think Microsoft has solidified its position for years to come.",
    "output": "[Cause] virtue of offering clients the ability to migrate to the cloud on their own terms through Azure [Relation] enable [Effect] Microsoft has solidified its position for years to come",
    "gold": "[Cause] virtue of offering clients the ability to migrate to the cloud on their own terms through Azure [Relation] enable [Effect] Microsoft has solidified its position for years to come",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Not only do we believe that Airbnb holds critical-mass booking and marketing scale, but also traffic advantages, which further support its network advantage by allowing it to test and implement platform changes quicker than smaller competitors, leading to an improved user experience and conversion.",
    "output": "[Cause] Not only do we believe that Airbnb holds critical-mass booking and marketing scale, but also traffic advantages [Relation] enable [Effect] further support its network advantage by allowing it to test and implement platform changes quicker than smaller competitors",
    "gold": "[Cause] Not only do we believe that Airbnb holds critical-mass booking and marketing scale, but also traffic advantages [Relation] cause [Effect] an improved user experience and conversion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Not only do we believe that Airbnb holds critical-mass booking and marketing scale, but also traffic advantages, which further support its network advantage by allowing it to test and implement platform changes quicker than smaller competitors, leading to an improved user experience and conversion.",
    "output": "[Cause] traffic advantages [Relation] enable [Effect] further support its network advantage by allowing it to test and implement platform changes quicker than smaller competitors",
    "gold": "[Cause]  traffic advantages [Relation] enable [Effect] further support its network advantage by allowing it to test and implement platform changes quicker than smaller competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But auto-parts suppliers cannot cost-cut their way to prosperity and must invest in and commercialize technological innovation to increase the top line.",
    "output": "[Cause] invest in and commercialize technological innovation [Relation] enable [Effect] increase the top line",
    "gold": "[Cause]  invest in and commercialize technological innovation [Relation] enable [Effect]  increase the top line",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Simply put, in replicating a network of planes, trucks, sorting facilities, and skilled employees, a new entrant would face massive investment before it could win a critical volume of customers from the entrenched incumbents.",
    "output": "[Cause] in replicating a network of planes, trucks, sorting facilities, and skilled employees [Relation] cause [Effect] a new entrant would face massive investment before it could win a critical volume of customers from the entrenched incumbents",
    "gold": "[Cause]  massive investment [Relation] enable [Effect]  it could win a critical volume of customers from the entrenched incumbents",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we also view the online and in-store traffic components of Best Buy's future plans as more challenging, given Amazon's e-commerce leadership and other competitive countermeasures from rivals (including price matching, locking in consumers through membership programs, and expedited fulfillment capabilities).",
    "output": "[Cause] Amazon's e-commerce leadership and other competitive countermeasures from rivals (including price matching, locking in consumers through membership programs, and expedited fulfillment capabilities) [Relation] cause [Effect] the online and in-store traffic components of Best Buy's future plans as more challenging",
    "gold": "[Cause] given Amazon's e-commerce leadership and other competitive countermeasures from rivals [Relation] cause [Effect] the online and in-store traffic components of Best Buy's future plans as more challenging",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We are forecasting an organic annual revenue growth rate of roughly 6% from 2021 to 2025, fueled by mid-single-digit growth in Asia-Pacific.",
    "output": "[Cause] mid-single-digit growth in Asia-Pacific [Relation] cause [Effect] an organic annual revenue growth rate of roughly 6% from 2021 to 2025",
    "gold": "[Cause] mid-single-digit growth in Asia-Pacific [Relation] cause [Effect] an organic annual revenue growth rate of roughly 6% from 2021 to 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe this shape memory alloy system is partly what has made it difficult for competitors to create something similar, as this technology is known for some of its limitations (for example, low durability) that have kept it from more extensive commercial applications.",
    "output": "[Cause] this technology is known for some of its limitations (for example, low durability) that have kept it from more extensive commercial applications [Relation] cause [Effect] this shape memory alloy system is partly what has made it difficult for competitors to create something similar",
    "gold": "[Cause] this technology is known for some of its limitations (for example, low durability) that have kept it from more extensive commercial applications [Relation] cause [Effect]  this shape memory alloy system is partly what has made it difficult for competitors to create something similar",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additional benefits of the ISI acquisition may also be showing up in the high growth in senior managing director headcount, as certain bankers may have been reluctant to join an investment bank without a material capital raising platform.",
    "output": "[Cause] certain bankers may have been reluctant to join an investment bank without a material capital raising platform [Relation] cause [Effect] Additional benefits of the ISI acquisition may also be showing up in the high growth in senior managing director headcount",
    "gold": "[Cause] certain bankers may have been reluctant to join an investment bank without a material capital raising platform [Relation] enable [Effect] Additional benefits of the ISI acquisition may also be showing up in the high growth in senior managing director headcount",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With its concentration of production in Brazil, Petrobras mostly avoids geopolitical risk, but the government's historical involvement in capital-allocation and operations has resulted in poor investments and losses like the destructive domestic fuel pricing controls that resulted in Petrobras subsidizing the domestic market.",
    "output": "[Cause] the destructive domestic fuel pricing controls [Relation] cause [Effect] Petrobras subsidizing the domestic market",
    "gold": "[Cause] the destructive domestic fuel pricing controls [Relation] cause [Effect] Petrobras subsidizing the domestic market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, if the underlying properties can't sustain the rent bumps throughout the lease term then eventually the leases will need to be broken and new, lower terms will be forced on the landlord.",
    "output": "[Cause] the underlying properties can't sustain the rent bumps throughout the lease term [Relation] cause [Effect] the leases will need to be broken and new, lower terms will be forced on the landlord",
    "gold": "[Cause] the underlying properties can't sustain the rent bumps throughout the lease term [Relation] cause [Effect] the leases will need to be broken and new, lower terms will be forced on the landlord",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Prioritizing profitability over scale should also refocus Harley on the success of high-margin parts and accessories and general merchandise segments.",
    "output": "[Cause] Prioritizing profitability over scale [Relation] enable [Effect] refocus Harley on the success of high-margin parts and accessories and general merchandise segments",
    "gold": "[Cause] Prioritizing profitability over scale [Relation] cause [Effect] refocus Harley on the success of high-margin parts and accessories and general merchandise segments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For operating expenses, we think R&D as a percentage of sales will settle in the midteens as ASML continues to invest in EUV development (high NA) and other critical technologies for extending Moore's Law.",
    "output": "[Cause] ASML continues to invest in EUV development (high NA) and other critical technologies for extending Moore's Law [Relation] cause [Effect] R&D as a percentage of sales will settle in the midteens",
    "gold": "[Cause]  ASML continues to invest in EUV development (high NA) and other critical technologies for extending Moore's Law [Relation] cause [Effect] R&D as a percentage of sales will settle in the midteens",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, Halliburton's early successful execution of 24-hour pressure pumping operations created an asset utilization advantage relative to peers, but this advantage has dissipated, as most peers have learned how to replicate 24-hour operations.",
    "output": "[Cause] Halliburton's early successful execution of 24-hour pressure pumping operations [Relation] enable [Effect] an asset utilization advantage relative to peers",
    "gold": "[Cause] most peers have learned how to replicate 24-hour operations [Relation] cause [Effect] Halliburton's early successful execution of 24-hour pressure pumping operations created an asset utilization advantage relative to peers, but this advantage has dissipated",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Meanwhile, we expect IP revenue to grow at a low-double-digit rate, bolstered by growth in chip customization as Moore's Law slows and chip designers seek to differentiate their products.",
    "output": "[Cause] Moore's Law slows and chip designers seek to differentiate their products [Relation] cause [Effect] IP revenue to grow at a low-double-digit rate, bolstered by growth in chip customization",
    "gold": "[Cause] Moore's Law slows and chip designers seek to differentiate their products [Relation] cause [Effect] IP revenue to grow at a low-double-digit rate, bolstered by growth in chip customization",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a midteens percentage of GDP and nearly 10% of jobs coming from natural-resource-related sectors, any demand-side shock or drastic declines in commodity prices could prove to be large negatives.",
    "output": "[Cause] a midteens percentage of GDP and nearly 10% of jobs coming from natural-resource-related sectors [Relation] cause [Effect] any demand-side shock or drastic declines in commodity prices could prove to be large negatives",
    "gold": "[Cause] any demand-side shock or drastic declines in commodity prices [Relation] cause [Effect]  large negatives",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Since then, Colfax has steadily increased its R&amp;D spending from 0.5% of sales in 2012 to 1.3%, which brings it more in line with its large rivals (1.6% for ITW and 1.8% for Lincoln Electric).",
    "output": "[Cause] Colfax has steadily increased its R&amp;D spending from 0.5% of sales in 2012 to 1.3% [Relation] enable [Effect] brings it more in line with its large rivals",
    "gold": "[Cause] Colfax has steadily increased its R&amp;D spending from 0.5% of sales in 2012 to 1.3% [Relation] cause [Effect] brings it more in line with its large rivals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This rebound was enough to push Landstar's gross revenue up slightly for the year despite unprecedented second-quarter declines, though net revenue fell as the cost of capacity spiked.",
    "output": "[Cause] the cost of capacity spiked [Relation] cause [Effect] net revenue fell",
    "gold": "[Cause] the cost of capacity spiked [Relation] cause [Effect] net revenue fell",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "BMO has the lowest overall exposure to Canadian real estate among its peers, although if a downturn in the real estate market spreads throughout the Canadian economy, damage could also spread to the commercial side of the loan book, where BMO is more concentrated.",
    "output": "[Cause] a downturn in the real estate market spreads throughout the Canadian economy [Relation] cause [Effect] damage could also spread to the commercial side of the loan book, where BMO is more concentrated",
    "gold": "[Cause] a downturn in the real estate market spreads throughout the Canadian economy [Relation] cause [Effect] damage could also spread to the commercial side of the loan book, where BMO is more concentrated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the low-teens ROICs achieved by the firm on average over the past 10 years (generally in line with the low- to mid-teens levels we forecast over the next five years) stem from its asset light business model rather than from any sort of competitive advantage.",
    "output": "[Cause] its asset light business model [Relation] cause [Effect] the low-teens ROICs achieved by the firm on average over the past 10 years",
    "gold": "[Cause]  its asset light business model [Relation] enable [Effect]  the low-teens ROICs achieved by the firm on average over the past 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The defense budget and the allocation of the budget is a political process, which is inherently difficult to predict. Therefore, we favor companies with tangible growth profiles through a steady stream of contract wins, ideally to contracts that are fulfilled over decades.",
    "output": "[Cause] The defense budget and the allocation of the budget is a political process, which is inherently difficult to predict [Relation] cause [Effect] we favor companies with tangible growth profiles through a steady stream of contract wins, ideally to contracts that are fulfilled over decades",
    "gold": "[Cause] The defense budget and the allocation of the budget is a political process, which is inherently difficult to predict [Relation] cause [Effect] we favor companies with tangible growth profiles through a steady stream of contract wins, ideally to contracts that are fulfilled over decades",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, each individual order has a fixed-cost component, and so the incremental costs of managing multiple product orders would mitigate any potential savings for the customer.",
    "output": "[Cause] each individual order has a fixed-cost component [Relation] cause [Effect] the incremental costs of managing multiple product orders would mitigate any potential savings for the customer",
    "gold": "[Cause]  each individual order has a fixed-cost component [Relation] cause [Effect] the incremental costs of managing multiple product orders would mitigate any potential savings for the customer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That aggression extends to the firm's capital structure, where heavy share repurchases bolster shareholder returns but have also kept debt leverage high, which will likely add volatility to the share price and could limit financial flexibility in a protracted economic downturn.",
    "output": "[Cause] heavy share repurchases bolster shareholder returns but have also kept debt leverage high [Relation] cause [Effect] add volatility to the share price and could limit financial flexibility in a protracted economic downturn",
    "gold": "[Cause]  heavy share repurchases bolster shareholder returns but have also kept debt leverage high [Relation] cause [Effect] add volatility to the share price and could limit financial flexibility in a protracted economic downturn",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that slowing overall growth for the banking industry in general will make it more difficult for the bank to materially improve its operating efficiency over the medium term.",
    "output": "[Cause] slowing overall growth for the banking industry in general [Relation] cause [Effect] make it more difficult for the bank to materially improve its operating efficiency over the medium term",
    "gold": "[Cause] slowing overall growth for the banking industry in general [Relation] enable [Effect] make it more difficult for the bank to materially improve its operating efficiency over the medium term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm must continue to provide new, effective tools to keep pace with modern chip design and not lose business to competitors. As a result of this consolidation, Synopsys also cannot exert much pricing power as businesses avoid vendor lock-in and can switch to a different EDA vendor if prices rise too much.",
    "output": "[Cause] The firm must continue to provide new, effective tools to keep pace with modern chip design and not lose business to competitors [Relation] cause [Effect] Synopsys also cannot exert much pricing power as businesses avoid vendor lock-in and can switch to a different EDA vendor if prices rise too much",
    "gold": "[Cause] The firm must continue to provide new, effective tools to keep pace with modern chip design and not lose business to competitors [Relation] cause [Effect]  Synopsys also cannot exert much pricing power as businesses avoid vendor lock-in and can switch to a different EDA vendor if prices rise too much",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Access to more favorable demographics, less saturated markets, and cheap labor has also increased the appeal of international expansion for those brands sufficiently capitalized (and positioned) to make the leap, furthering pressuring Yum in important growth markets.",
    "output": "[Cause] Access to more favorable demographics, less saturated markets, and cheap labor [Relation] cause [Effect] increased the appeal of international expansion for those brands sufficiently capitalized (and positioned) to make the leap, furthering pressuring Yum in important growth markets",
    "gold": "[Cause] increased the appeal of international expansion for those brands sufficiently capitalized (and positioned) [Relation] prevent [Effect]  Yum in important growth markets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As Ericsson reviewed and exited some contracts the segment revenue has contracted, and company management believes positive non-IFRS operating margin for the segment is achievable by 2020.",
    "output": "[Cause] Ericsson reviewed and exited some contracts [Relation] cause [Effect] the segment revenue has contracted",
    "gold": "[Cause] Ericsson reviewed and exited some contracts [Relation] cause [Effect] the segment revenue has contracted",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the firm intends to realize $2 billion in efficiency savings through 2024, it appears to be doing so as a way to free up resources to reinvest in its product mix rather than inflate profits.",
    "output": "[Cause] free up resources to reinvest in its product mix [Relation] cause [Effect] While the firm intends to realize $2 billion in efficiency savings through 2024, it appears to be doing so",
    "gold": "[Cause]  the firm intends to realize $2 billion in efficiency savings [Relation] cause [Effect] free up resources to reinvest in its product mix",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe that enabling access management and protecting networks from malicious actors based upon identity credentials are cornerstones of the cybersecurity market, and the dissipation of a distinct security perimeter leads our belief that security teams will further rely on user-based cybersecurity.",
    "output": "[Cause] enabling access management and protecting networks from malicious actors based upon identity credentials [Relation] enable [Effect] cornerstones of the cybersecurity market",
    "gold": "[Cause] enabling access management and protecting networks from malicious actors based upon identity credentials [Relation] enable [Effect] cornerstones of the cybersecurity market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that enabling access management and protecting networks from malicious actors based upon identity credentials are cornerstones of the cybersecurity market, and the dissipation of a distinct security perimeter leads our belief that security teams will further rely on user-based cybersecurity.",
    "output": "[Cause] the dissipation of a distinct security perimeter [Relation] cause [Effect] security teams will further rely on user-based cybersecurity",
    "gold": "[Cause] the dissipation of a distinct security perimeter [Relation] cause [Effect] security teams will further rely on user-based cybersecurity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To this effect, we think CGI's proximity-based operating model, with over 400 global offices, benefits the company as governments often require companies to operate near governmental offices.",
    "output": "[Cause] governments often require companies to operate near governmental offices [Relation] cause [Effect] CGI's proximity-based operating model, with over 400 global offices, benefits the company",
    "gold": "[Cause]  governments often require companies to operate near governmental offices [Relation] cause [Effect]  CGI's proximity-based operating model, with over 400 global offices, benefits the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given these favorable qualitative dynamics, one would think that the notoriety of Molson Coors' flagship brands would make it well situated to extract intangibles-based rents from its markets.",
    "output": "[Cause] these favorable qualitative dynamics [Relation] cause [Effect] the notoriety of Molson Coors' flagship brands would make it well situated to extract intangibles-based rents from its markets",
    "gold": "[Cause] these favorable qualitative dynamics [Relation] cause [Effect] the notoriety of Molson Coors' flagship brands would make it well situated to extract intangibles-based rents from its markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management believes it is not time to turn profitable in the supermarket category in order to be a category leader in China.",
    "output": "[Cause] it is not time to turn profitable in the supermarket category [Relation] enable [Effect] be a category leader in China",
    "gold": "[Cause] it is not time to turn profitable in the supermarket category [Relation] prevent [Effect] be a category leader in China",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Excluding these charges, we still anticipate Under Armour will report an operating margin of negative 3% in 2020, as we do not think the company can operate profitability despite an expected 2% reduction in selling, general, and administrative expenses.",
    "output": "[Cause] we do not think the company can operate profitability despite an expected 2% reduction in selling, general, and administrative expenses [Relation] cause [Effect] Under Armour will report an operating margin of negative 3% in 2020",
    "gold": "[Cause] we do not think the company can operate profitability despite an expected 2% reduction in selling, general, and administrative expenses [Relation] enable [Effect] Under Armour will report an operating margin of negative 3% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, we expect Airbnb to lower marketing expense to 23% of revenue in 2029 from 34% in 2019 (2019 was a heavier investment year, with 2018 marketing costs at 30% of sales), as the company benefits from strong global awareness and a more complete platform offering long term.  As a result, we estimate Airbnb's revenue growth to average 15% over the next 10 years, with operating margins expanding to the mid-20s in 2029 from negative 10% in 2019.",
    "output": "[Cause] Airbnb to lower marketing expense to 23% of revenue in 2029 from 34% in 2019 (2019 was a heavier investment year, with 2018 marketing costs at 30% of sales), as the company benefits from strong global awareness and a more complete platform offering long term [Relation] cause [Effect] Airbnb's revenue growth to average 15% over the next 10 years, with operating margins expanding to the mid-20s in 2029 from negative 10% in 2019",
    "gold": "[Cause] Airbnb to lower marketing expense to 23% of revenue in 2029 from 34% in 2019 (2019 was a heavier investment year, with 2018 marketing costs at 30% of sales), as the company benefits from strong global awareness and a more complete platform offering long term [Relation] cause [Effect] Airbnb's revenue growth to average 15% over the next 10 years, with operating margins expanding to the mid-20s in 2029 from negative 10% in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe smaller local and regional competitors will struggle to win market share in these end markets globally, allowing Caterpillar to maintain its strong market share positions.",
    "output": "[Cause] smaller local and regional competitors will struggle to win market share in these end markets globally [Relation] enable [Effect] Caterpillar to maintain its strong market share positions",
    "gold": "[Cause] smaller local and regional competitors will struggle to win market share in these end markets globally [Relation] cause [Effect] Caterpillar to maintain its strong market share positions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Canada's system of higher taxes, social safety nets, and undoubtedly other complex factors has also led to a more robust and stable middle class, which contributes to economic and political stability, further reducing systemic risk.",
    "output": "[Cause] Canada's system of higher taxes, social safety nets, and undoubtedly other complex factors [Relation] cause [Effect] a more robust and stable middle class",
    "gold": "[Cause] Canada's system of higher taxes, social safety nets, and undoubtedly other complex factors [Relation] cause [Effect] a more robust and stable middle class",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Canada's system of higher taxes, social safety nets, and undoubtedly other complex factors has also led to a more robust and stable middle class, which contributes to economic and political stability, further reducing systemic risk.",
    "output": "[Cause] a more robust and stable middle class [Relation] enable [Effect] economic and political stability, further reducing systemic risk",
    "gold": "[Cause] a more robust and stable middle class [Relation] enable [Effect] economic and political stability, further reducing systemic risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As wireless networks upgrade to 5G technologies, RF designs should only grow in complexity, making RF leaders even more valuable suppliers into smartphones and other device makers than they are today.",
    "output": "[Cause] wireless networks upgrade to 5G technologies [Relation] cause [Effect] RF leaders even more valuable suppliers into smartphones and other device makers than they are today",
    "gold": "[Cause] wireless networks upgrade to 5G technologies [Relation] enable [Effect]  RF leaders even more valuable suppliers into smartphones and other device makers than they are today",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The fruits of this relationship have less to do with the economics of the actual transactions, as commercial rules mandate that purchases between related parties should be akin to arms-length transactions.",
    "output": "[Cause] commercial rules mandate that purchases between related parties should be akin to arms-length transactions [Relation] cause [Effect] The fruits of this relationship have less to do with the economics of the actual transactions",
    "gold": "[Cause] commercial rules mandate that purchases between related parties should be akin to arms-length transactions [Relation] cause [Effect] The fruits of this relationship have less to do with the economics of the actual transactions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since Southwest has capacity of over a hundred billion available seat miles, our estimated savings per available seat mile add up to a figure in the hundreds of millions of dollars.",
    "output": "[Cause] Southwest has capacity of over a hundred billion available seat miles [Relation] cause [Effect] our estimated savings per available seat mile add up to a figure in the hundreds of millions of dollars",
    "gold": "[Cause] Southwest has capacity of over a hundred billion available seat miles [Relation] cause [Effect] our estimated savings per available seat mile add up to a figure in the hundreds of millions of dollars",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Relationships between the supplier and the customer play a key role in the automation space, especially as factory automation becomes increasingly complex and requires more communication between the parties.",
    "output": "[Cause] factory automation becomes increasingly complex and requires more communication between the parties [Relation] cause [Effect] Relationships between the supplier and the customer play a key role in the automation space",
    "gold": "[Cause] factory automation becomes increasingly complex and requires more communication between the parties [Relation] cause [Effect] Relationships between the supplier and the customer play a key role in the automation space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This combination makes TechnipFMC unique in the recent history of offshore oil and gas, as subsea E&C and subsea equipment have been exclusively provisioned by separate companies in the past.",
    "output": "[Cause] subsea E&C and subsea equipment have been exclusively provisioned by separate companies in the past [Relation] cause [Effect] This combination makes TechnipFMC unique in the recent history of offshore oil and gas",
    "gold": "[Cause] subsea E&C and subsea equipment have been exclusively provisioned by separate companies in the past [Relation] cause [Effect] This combination makes TechnipFMC unique in the recent history of offshore oil and gas",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the investment side, after a near-term fall-off, we assume improving fixed-income results over time as the interest rate environment improves, but we expect overall investment returns to moderate as the recent bull market proves unsustainable.",
    "output": "[Cause] the interest rate environment improves [Relation] cause [Effect] improving fixed-income results over time",
    "gold": "[Cause] the interest rate environment improves [Relation] cause [Effect] improving fixed-income results over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the investment side, after a near-term fall-off, we assume improving fixed-income results over time as the interest rate environment improves, but we expect overall investment returns to moderate as the recent bull market proves unsustainable.",
    "output": "[Cause] the recent bull market proves unsustainable [Relation] cause [Effect] overall investment returns to moderate",
    "gold": "[Cause] the recent bull market proves unsustainable [Relation] cause [Effect] overall investment returns to moderate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The bauxite segment is well positioned for future growth, as China is not self-sufficient in bauxite and must import roughly one third of its bauxite needs.",
    "output": "[Cause] China is not self-sufficient in bauxite [Relation] cause [Effect] The bauxite segment is well positioned for future growth",
    "gold": "[Cause]  China is not self-sufficient in bauxite [Relation] enable [Effect] import roughly one third of its bauxite needs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect much of Versace's growth to come from Asia, where we forecast sales will increase to $651 million (33% of sales) in fiscal 2030 from $237 million (28% of sales) in 2020, facilitating an average operating margin of 9.5% in fiscal 2022-30 after losses in 2019-21.",
    "output": "[Cause] sales will increase to $651 million (33% of sales) in fiscal 2030 from $237 million (28% of sales) in 2020 [Relation] enable [Effect] an average operating margin of 9.5% in fiscal 2022-30 after losses in 2019-21",
    "gold": "[Cause] facilitating an average operating margin of 9.5% in fiscal 2022-30 after losses in 2019-21 [Relation] enable [Effect] sales will increase to $651 million (33% of sales) in fiscal 2030 from $237 million (28% of sales) in 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Burlington's reopening has not been entirely smooth, with inventory flow-through challenges (despite ample product availability) as it and its vendors restart their supply and distribution networks.",
    "output": "[Cause] it and its vendors restart their supply and distribution networks [Relation] cause [Effect] inventory flow-through challenges",
    "gold": "[Cause] it and its vendors restart their supply and distribution networks [Relation] cause [Effect]  inventory flow-through challenges",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In order to develop new products, we expect Eastman to reinvest roughly 4% of these segments' sales in research and development, which is in line with the investment rate over the past several years.",
    "output": "[Cause] Eastman to reinvest roughly 4% of these segments' sales in research and development [Relation] enable [Effect] develop new products",
    "gold": "[Cause] Eastman to reinvest roughly 4% of these segments' sales in research and development [Relation] cause [Effect] develop new products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, Vodafone's scale affords it with the resources to participate in government spectrum auctions, acquiring licenses needed to improve the quality of its networks, thereby attracting more valuable heavy data users.",
    "output": "[Cause] Vodafone's scale [Relation] enable [Effect] attracting more valuable heavy data users",
    "gold": "[Cause] Vodafone's scale [Relation] enable [Effect]  attracting more valuable heavy data users",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect long-term salt volumes to grow from 2020's below-average 9.4 million metric tons to over 12 million metric tons starting in 2021 as production at the Goderich mine is fully restored.",
    "output": "[Cause] production at the Goderich mine is fully restored [Relation] cause [Effect] long-term salt volumes to grow from 2020's below-average 9.4 million metric tons to over 12 million metric tons starting in 2021",
    "gold": "[Cause] production at the Goderich mine is fully restored [Relation] enable [Effect] long-term salt volumes to grow from 2020's below-average 9.4 million metric tons to over 12 million metric tons starting in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, it's unlikely that fixed asset investment growth in China will stay at historical levels, meaning, the commodity price outlook will likely be softer than historical levels.",
    "output": "[Cause] it's unlikely that fixed asset investment growth in China will stay at historical levels [Relation] cause [Effect] the commodity price outlook will likely be softer than historical levels",
    "gold": "[Cause] it's unlikely that fixed asset investment growth in China will stay at historical levels [Relation] cause [Effect] the commodity price outlook will likely be softer than historical levels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The growth of precision farming has led to a dramatic increase in onboard software, processing, and sensor technology, which are being developed by Deere's Intelligent Solutions Group.",
    "output": "[Cause] The growth of precision farming [Relation] cause [Effect] a dramatic increase in onboard software, processing, and sensor technology",
    "gold": "[Cause] The growth of precision farming [Relation] cause [Effect] a dramatic increase in onboard software, processing, and sensor technology",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Getting into the basin early also means the firm also enjoys relatively low royalty rates, giving it a further advantage over many of its competitors.",
    "output": "[Cause] Getting into the basin early also means the firm also enjoys relatively low royalty rates [Relation] enable [Effect] a further advantage over many of its competitors",
    "gold": "[Cause] Getting into the basin early also means the firm also enjoys relatively low royalty rates [Relation] enable [Effect]  a further advantage over many of its competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The growth of nonmusic listening, like podcasts, could decrease the importance of music and thus payout ratio, but we believe that most users will listen to both podcast and music, much like time has always been split between music, news, and talk radio historically.",
    "output": "[Cause] The growth of nonmusic listening, like podcasts [Relation] cause [Effect] decrease the importance of music and thus payout ratio",
    "gold": "[Cause] The growth of nonmusic listening, like podcasts [Relation] cause [Effect]  decrease the importance of music and thus payout ratio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect total client assets to organically increase around 4.5% annually for the next five years, thanks to general market appreciation and new clients.",
    "output": "[Cause] general market appreciation and new clients [Relation] cause [Effect] total client assets to organically increase around 4.5% annually for the next five years",
    "gold": "[Cause] general market appreciation and new clients [Relation] cause [Effect]  total client assets to organically increase around 4.5% annually for the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With both TSMC and Samsung reaching their respective 7-nm process nodes ahead of Intel (which we generally equate to Intel's 10-nm regarding transistor density and performance), AMD (via TSMC) launched newer products at a smaller process node in 2019.",
    "output": "[Cause] both TSMC and Samsung reaching their respective 7-nm process nodes ahead of Intel (which we generally equate to Intel's 10-nm regarding transistor density and performance) [Relation] cause [Effect] AMD (via TSMC) launched newer products at a smaller process node in 2019",
    "gold": "[Cause] both TSMC and Samsung reaching their respective 7-nm process nodes ahead of Intel (which we generally equate to Intel's 10-nm regarding transistor density and performance) [Relation] cause [Effect]  AMD (via TSMC) launched newer products at a smaller process node in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These solutions can help nursing care facilities comply with Medicare requirements, which, in theory, may lead to higher levels of reimbursement.",
    "output": "[Cause] These solutions can help nursing care facilities comply with Medicare requirements [Relation] cause [Effect] higher levels of reimbursement",
    "gold": "[Cause] These solutions can help nursing care facilities comply with Medicare requirements [Relation] cause [Effect]  higher levels of reimbursement",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Viper is a mineral rights owner, and thus Viper is paid a percentage of the revenue a producer obtains from drilling a well.",
    "output": "[Cause] Viper is a mineral rights owner [Relation] cause [Effect] Viper is paid a percentage of the revenue a producer obtains from drilling a well",
    "gold": "[Cause] Viper is a mineral rights owner [Relation] enable [Effect] Viper is paid a percentage of the revenue a producer obtains from drilling a well",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project that the bank's net interest margin will decline as lower rates hurt asset yields, however, we expect its NIM will remain low in the future as higher funding costs eat up future gains from rising rates.",
    "output": "[Cause] lower rates hurt asset yields [Relation] cause [Effect] the bank's net interest margin will decline",
    "gold": "[Cause]  lower rates hurt asset yields [Relation] cause [Effect] the bank's net interest margin will decline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project that the bank's net interest margin will decline as lower rates hurt asset yields, however, we expect its NIM will remain low in the future as higher funding costs eat up future gains from rising rates.",
    "output": "[Cause] higher funding costs eat up future gains from rising rates [Relation] cause [Effect] its NIM will remain low in the future",
    "gold": "[Cause] higher funding costs eat up future gains from rising rates [Relation] cause [Effect]  its NIM will remain low in the future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We model 53.8% and 53.1% gross margins for 2021 and 2022, respectively, compared with nearly 54% in 2020, due to the higher cost of YouTube content.",
    "output": "[Cause] the higher cost of YouTube content [Relation] cause [Effect] We model 53.8% and 53.1% gross margins for 2021 and 2022, respectively, compared with nearly 54% in 2020",
    "gold": "[Cause] the higher cost of YouTube content [Relation] cause [Effect] We model 53.8% and 53.1% gross margins for 2021 and 2022, respectively, compared with nearly 54% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Mettler's customer relationships to remain intact through the crisis, allowing the firm to return to pre-crisis growth in the midsingle digits, putting the company back on track for consistent margin expansion.",
    "output": "[Cause] Mettler's customer relationships to remain intact through the crisis [Relation] enable [Effect] the firm to return to pre-crisis growth in the midsingle digits, putting the company back on track for consistent margin expansion",
    "gold": "[Cause]  Mettler's customer relationships to remain intact through the crisis [Relation] enable [Effect]  the firm to return to pre-crisis growth in the midsingle digits, putting the company back on track for consistent margin expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In general, housing downturns have resulted in industrywide declines in sales, operating margin contraction, and increased inventory impairment charges.",
    "output": "[Cause] housing downturns [Relation] cause [Effect] industrywide declines in sales, operating margin contraction, and increased inventory impairment charges",
    "gold": "[Cause]  housing downturns [Relation] cause [Effect]  industrywide declines in sales, operating margin contraction, and increased inventory impairment charges",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Tightening environmental compliance regulations could require significant capital investment or added operating costs that may have uncertain cost recovery through traditional regulated rates.",
    "output": "[Cause] Tightening environmental compliance regulations [Relation] cause [Effect] require significant capital investment or added operating costs",
    "gold": "[Cause] Tightening environmental compliance regulations [Relation] enable [Effect] require significant capital investment or added operating costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the Williston basin, there is also substantial upside for Oneok in terms of capturing now-flared gas, as Oneok has about 250-300 million cubic feet per day of spare gathering and processing capacity and can benefit as rig activity in the area increases.",
    "output": "[Cause] Oneok has about 250-300 million cubic feet per day of spare gathering and processing capacity and can benefit as rig activity in the area increases [Relation] cause [Effect] there is also substantial upside for Oneok in terms of capturing now-flared gas",
    "gold": "[Cause] Oneok has about 250-300 million cubic feet per day of spare gathering and processing capacity and can benefit as rig activity in the area increases [Relation] cause [Effect] there is also substantial upside for Oneok in terms of capturing now-flared gas",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project Telus' revenue to grow by 8% in 2021 as it bounces back from a pandemic related slowdown in 2020 and to maintain mid-single-digit revenue growth throughout our forecast.",
    "output": "[Cause] it bounces back from a pandemic related slowdown in 2020 and to maintain mid-single-digit revenue growth throughout our forecast [Relation] cause [Effect] We project Telus' revenue to grow by 8% in 2021",
    "gold": "[Cause] it bounces back from a pandemic related slowdown in 2020 and to maintain mid-single-digit revenue growth throughout our forecast [Relation] cause [Effect] We project Telus' revenue to grow by 8% in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Vertex's cystic fibrosis portfolio has experienced a pretty welcoming commercial and regulatory environment due to the rarity of cystic fibrosis and the lack of disease-modifying treatments.",
    "output": "[Cause] the rarity of cystic fibrosis and the lack of disease-modifying treatments [Relation] cause [Effect] Vertex's cystic fibrosis portfolio has experienced a pretty welcoming commercial and regulatory environment",
    "gold": "[Cause] Vertex's cystic fibrosis portfolio has experienced a pretty welcoming commercial and regulatory environment [Relation] cause [Effect] the rarity of cystic fibrosis and the lack of disease-modifying treatments",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect ROICs to trend down for several more years as the company's transition to a subscription model advances, but still remain far above the cost of capital.",
    "output": "[Cause] the company's transition to a subscription model advances [Relation] cause [Effect] ROICs to trend down for several more years",
    "gold": "[Cause] the company's transition to a subscription model advances [Relation] cause [Effect] ROICs to trend down for several more years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Anti-bank sentiment remains in the U.K., and banking regulation, partially as a result, changes frequently and is more onerous than elsewhere in Europe.",
    "output": "[Cause] changes frequently and is more onerous than elsewhere in Europe [Relation] cause [Effect] Anti-bank sentiment remains in the U.K., and banking regulation",
    "gold": "[Cause] Anti-bank sentiment remains in the U.K., and banking regulation [Relation] cause [Effect] changes frequently and is more onerous than elsewhere in Europe",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Card portfolios of shuttered retailers can have higher charge-offs, and the loss of the longer-term revenue stream is a net negative; however, paydowns by existing cardholders and less expenses associated with runoff portfolios can produce higher short-term cash flows.",
    "output": "[Cause] Card portfolios of shuttered retailers [Relation] cause [Effect] have higher charge-offs",
    "gold": "[Cause] paydowns by existing cardholders and less expenses associated with runoff portfolios [Relation] enable [Effect] produce higher short-term cash flows",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Card portfolios of shuttered retailers can have higher charge-offs, and the loss of the longer-term revenue stream is a net negative; however, paydowns by existing cardholders and less expenses associated with runoff portfolios can produce higher short-term cash flows.",
    "output": "[Cause] paydowns by existing cardholders and less expenses associated with runoff portfolios [Relation] enable [Effect] produce higher short-term cash flows",
    "gold": "[Cause] Card portfolios of shuttered retailers [Relation] enable [Effect] have higher charge-offs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company is already a leader in trucks, so a competitive lineup in all segments, combined with a much smaller cost base, says to us that GM is starting to realize the scale to match its size.",
    "output": "[Cause] The company is already a leader in trucks [Relation] cause [Effect] a competitive lineup in all segments, combined with a much smaller cost base, says to us that GM is starting to realize the scale to match its size",
    "gold": "[Cause]  a competitive lineup in all segments, combined with a much smaller cost base [Relation] enable [Effect] GM is starting to realize the scale to match its size",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, rampant inflation in both vanilla and garlic prices (which had been up high-double- to even triple-digit rates) also ate into the firm's profits a few years back.",
    "output": "[Cause] rampant inflation in both vanilla and garlic prices [Relation] cause [Effect] ate into the firm's profits a few years back",
    "gold": "[Cause] rampant inflation in both vanilla and garlic prices [Relation] cause [Effect] ate into the firm's profits a few years back",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Adidas outperformed our expectations in the quarter as its 5% sales decline was slightly better than our forecast of a 7% drop and a 13% reduction in marketing expenses led to an operating margin of 4.1% (80 basis points better than our forecast).",
    "output": "[Cause] its 5% sales decline was slightly better than our forecast of a 7% drop [Relation] cause [Effect] Adidas outperformed our expectations in the quarter",
    "gold": "[Cause]  its 5% sales decline was slightly better than our forecast of a 7% drop [Relation] cause [Effect] Adidas outperformed our expectations in the quarter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Adidas outperformed our expectations in the quarter as its 5% sales decline was slightly better than our forecast of a 7% drop and a 13% reduction in marketing expenses led to an operating margin of 4.1% (80 basis points better than our forecast).",
    "output": "[Cause] a 13% reduction in marketing expenses [Relation] cause [Effect] an operating margin of 4.1%",
    "gold": "[Cause]  a 13% reduction in marketing expenses [Relation] cause [Effect] an operating margin of 4.1%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fortunately, television customers generate relatively low margins thanks to programming and equipment cost, so the decline in this business should benefit segment profitability.",
    "output": "[Cause] programming and equipment cost [Relation] cause [Effect] television customers generate relatively low margins",
    "gold": "[Cause]  television customers generate relatively low margins [Relation] enable [Effect]  benefit segment profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Fortunately, television customers generate relatively low margins thanks to programming and equipment cost, so the decline in this business should benefit segment profitability.",
    "output": "[Cause] television customers generate relatively low margins [Relation] cause [Effect] the decline in this business should benefit segment profitability",
    "gold": "[Cause] programming and equipment cost [Relation] cause [Effect]  television customers generate relatively low margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we believe management is acting prudently to improve efficiency, the efforts carry double-edged risks: the operating margin expansion that Advance targets may not materialize if it is insufficiently aggressive in reducing outlays, but a move too far may alienate customers if service levels drop.",
    "output": "[Cause] it is insufficiently aggressive in reducing outlays [Relation] cause [Effect] the operating margin expansion that Advance targets may not materialize",
    "gold": "[Cause]  it is insufficiently aggressive in reducing outlays [Relation] cause [Effect]  the operating margin expansion that Advance targets may not materialize",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we believe management is acting prudently to improve efficiency, the efforts carry double-edged risks: the operating margin expansion that Advance targets may not materialize if it is insufficiently aggressive in reducing outlays, but a move too far may alienate customers if service levels drop.",
    "output": "[Cause] service levels drop [Relation] cause [Effect] a move too far may alienate customers",
    "gold": "[Cause] service levels drop [Relation] cause [Effect] a move too far may alienate customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In this vein, ROICs lagged our estimate of the firm's cost of capital in fiscal 2009, 2014, and 2018 at 3.7%, 7.9%, and 6.8%, respectively. As such, while we forecast 10.3% ROICs on average annually over the next 10 years, our model does not reflect the cyclicality this business is likely to experience.",
    "output": "[Cause] ROICs lagged our estimate of the firm's cost of capital in fiscal 2009, 2014, and 2018 at 3.7%, 7.9%, and 6.8%, respectively [Relation] cause [Effect] while we forecast 10.3% ROICs on average annually over the next 10 years, our model does not reflect the cyclicality this business is likely to experience",
    "gold": "[Cause] ROICs lagged our estimate of the firm's cost of capital in fiscal 2009, 2014, and 2018 at 3.7%, 7.9%, and 6.8%, respectively [Relation] cause [Effect] while we forecast 10.3% ROICs on average annually over the next 10 years, our model does not reflect the cyclicality this business is likely to experience",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "FireEye faces tough competition from firms with wider product platforms in its pivot toward providing front-line defense for network, endpoint, and email..",
    "output": "[Cause] firms with wider product platforms in its pivot toward providing front-line defense for network, endpoint, and email [Relation] cause [Effect] FireEye faces tough competition",
    "gold": "[Cause]  firms with wider product platforms in its pivot toward providing front-line defense for network, endpoint, and email [Relation] cause [Effect] FireEye faces tough competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If future changes to the ACA cause healthcare subsectors that Ventas invests in to fall out of favor, then the performance and asset values of Ventas' portfolio will suffer.",
    "output": "[Cause] future changes to the ACA cause healthcare subsectors that Ventas invests in to fall out of favor [Relation] cause [Effect] the performance and asset values of Ventas' portfolio will suffer",
    "gold": "[Cause] future changes to the ACA cause healthcare subsectors that Ventas invests in to fall out of favor [Relation] cause [Effect]  the performance and asset values of Ventas' portfolio will suffer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We continue to see a healthy long-term growth runway as AutoNation is the largest player in what is still an extremely fragmented yet consolidating sector.",
    "output": "[Cause] AutoNation is the largest player in what is still an extremely fragmented yet consolidating sector [Relation] cause [Effect] We continue to see a healthy long-term growth runway",
    "gold": "[Cause] AutoNation is the largest player in what is still an extremely fragmented yet consolidating sector [Relation] enable [Effect] We continue to see a healthy long-term growth runway",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project that platform revenue growth will continue to outpace hardware growth, leading to an 88% share of 2024 revenue for the service-orientated segment.",
    "output": "[Cause] platform revenue growth will continue to outpace hardware growth [Relation] cause [Effect] an 88% share of 2024 revenue for the service-orientated segment",
    "gold": "[Cause]  platform revenue growth will continue to outpace hardware growth [Relation] enable [Effect] an 88% share of 2024 revenue for the service-orientated segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fiscal relief packages placed even further pressure on Capital One's credit card portfolio as many consumers used the stimulus money for debt relief.",
    "output": "[Cause] many consumers used the stimulus money for debt relief [Relation] cause [Effect] Fiscal relief packages placed even further pressure on Capital One's credit card portfolio",
    "gold": "[Cause] many consumers used the stimulus money for debt relief [Relation] cause [Effect] Fiscal relief packages placed even further pressure on Capital One's credit card portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, the growth of in-house chip design by systems companies such as Facebook and Apple could spur additional business for Cadence Cloud as they seek greater flexibility and choose to avoid some high up-front costs.",
    "output": "[Cause] they seek greater flexibility and choose to avoid some high up-front costs [Relation] cause [Effect] the growth of in-house chip design by systems companies such as Facebook and Apple could spur additional business for Cadence Cloud",
    "gold": "[Cause] the growth of in-house chip design by systems companies such as Facebook and Apple [Relation] enable [Effect] spur additional business for Cadence Cloud",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, the growth of in-house chip design by systems companies such as Facebook and Apple could spur additional business for Cadence Cloud as they seek greater flexibility and choose to avoid some high up-front costs.",
    "output": "[Cause] they seek greater flexibility and choose to avoid some high up-front costs [Relation] cause [Effect] the growth of in-house chip design by systems companies such as Facebook and Apple could spur additional business for Cadence Cloud",
    "gold": "[Cause]  they seek greater flexibility and choose to avoid some high up-front costs [Relation] cause [Effect] the growth of in-house chip design by systems companies such as Facebook and Apple could spur additional business for Cadence Cloud",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In a passenger car, ESD can damage engine control units or sensors directly responsible for vehicle function, and vehicle malfunction can lead to damaged automaker reputation, driver injury, or in the worst cases, death.",
    "output": "[Cause] vehicle malfunction [Relation] cause [Effect] damaged automaker reputation, driver injury, or in the worst cases, death",
    "gold": "[Cause] vehicle malfunction [Relation] cause [Effect] damaged automaker reputation, driver injury, or in the worst cases, death",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Second, we see governments and the black market squeezing cannabis cultivators and dispensaries and thus preventing excess economic profit generation.",
    "output": "[Cause] governments and the black market squeezing cannabis cultivators and dispensaries [Relation] prevent [Effect] excess economic profit generation",
    "gold": "[Cause] governments and the black market squeezing cannabis cultivators and dispensaries [Relation] prevent [Effect] excess economic profit generation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that software like Autodesk's Inventor or Dassault Syst猫mes' SolidWorks have a more expansive university presence given that they specialize in meeting mid-market CAD needs, which makes up the majority of the CAD market.",
    "output": "[Cause] they specialize in meeting mid-market CAD needs, which makes up the majority of the CAD market [Relation] cause [Effect] software like Autodesk's Inventor or Dassault Systmes' SolidWorks have a more expansive university presence",
    "gold": "[Cause] they specialize in meeting mid-market CAD needs, which makes up the majority of the CAD market [Relation] cause [Effect] We think that software like Autodesk's Inventor or Dassault Syst猫mes' SolidWorks have a more expansive university presence",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Moreover, Solstice remains a liquid for an extended period compared with alternatives, given its low boiling point, but high heat of vaporization.",
    "output": "[Cause] its low boiling point, but high heat of vaporization [Relation] cause [Effect] Solstice remains a liquid for an extended period compared with alternatives",
    "gold": "[Cause] its low boiling point, but high heat of vaporization [Relation] cause [Effect] Solstice remains a liquid for an extended period compared with alternatives",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Alibaba's marketplace monetization rates have generally been on an upward trend despite recent macro uncertainty, indicating that sellers are increasingly engaging with Alibaba's marketplaces and payment solutions, although increased compliance of antitrust laws and more competition will put pressure on monetization in the near- to medium term.",
    "output": "[Cause] recent macro uncertainty [Relation] cause [Effect] sellers are increasingly engaging with Alibaba's marketplaces and payment solutions",
    "gold": "[Cause] sellers are increasingly engaging with Alibaba's marketplaces and payment solutions [Relation] cause [Effect] Alibaba's marketplace monetization rates have generally been on an upward trend",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Alibaba's marketplace monetization rates have generally been on an upward trend despite recent macro uncertainty, indicating that sellers are increasingly engaging with Alibaba's marketplaces and payment solutions, although increased compliance of antitrust laws and more competition will put pressure on monetization in the near- to medium term.",
    "output": "[Cause] increased compliance of antitrust laws and more competition [Relation] cause [Effect] put pressure on monetization in the near- to medium term",
    "gold": "[Cause] increased compliance of antitrust laws and more competition [Relation] cause [Effect] put pressure on monetization in the near- to medium term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Though customers may be unlikely to churn from existing tenancies, CyrusOne could have difficulty filling new space for good prices if hyperscalers ever chose to self-provide their data center needs.",
    "output": "[Cause] hyperscalers ever chose to self-provide their data center needs [Relation] cause [Effect] CyrusOne could have difficulty filling new space for good prices",
    "gold": "[Cause] hyperscalers ever chose to self-provide their data center needs [Relation] cause [Effect]  CyrusOne could have difficulty filling new space for good prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even though concerns surrounding COVID-19 have jump-started consumption of the company's fare over the past year, we don't expect these gains will be sustainable when consumers venture beyond their homes as vaccines are more broadly disseminated.",
    "output": "[Cause] concerns surrounding COVID-19 [Relation] cause [Effect] jump-started consumption of the company's fare over the past year",
    "gold": "[Cause] concerns surrounding COVID-19 [Relation] cause [Effect] jump-started consumption of the company's fare over the past year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even though concerns surrounding COVID-19 have jump-started consumption of the company's fare over the past year, we don't expect these gains will be sustainable when consumers venture beyond their homes as vaccines are more broadly disseminated.",
    "output": "[Cause] vaccines are more broadly disseminated [Relation] cause [Effect] we don't expect these gains will be sustainable when consumers venture beyond their homes",
    "gold": "[Cause]  vaccines are more broadly disseminated [Relation] cause [Effect] we don't expect these gains will be sustainable when consumers venture beyond their homes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, if any of such compliance tools--like the ability to delete data compliant with the right to be forgotten--were to fail, Snowflake's brand could suffer significantly and possibly lead to diminished future business.",
    "output": "[Cause] any of such compliance tools--like the ability to delete data compliant with the right to be forgotten--were to fail [Relation] cause [Effect] Snowflake's brand could suffer significantly",
    "gold": "[Cause] any of such compliance tools--like the ability to delete data compliant with the right to be forgotten--were to fail [Relation] cause [Effect] Snowflake's brand could suffer significantly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, if any of such compliance tools--like the ability to delete data compliant with the right to be forgotten--were to fail, Snowflake's brand could suffer significantly and possibly lead to diminished future business.",
    "output": "[Cause] any of such compliance tools--like the ability to delete data compliant with the right to be forgotten--were to fail [Relation] cause [Effect] Snowflake's brand could suffer significantly",
    "gold": "[Cause] Snowflake's brand could suffer significantly [Relation] cause [Effect] diminished future business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although we think the company's international presence provides new growth opportunities, diversifies revenue, and damps cyclicality, it also exposes the company to foreign currency, economic, operational, and political risks.",
    "output": "[Cause] the company's international presence [Relation] enable [Effect] new growth opportunities, diversifies revenue, and damps cyclicality",
    "gold": "[Cause]  the company's international presence [Relation] cause [Effect] new growth opportunities, diversifies revenue, and damps cyclicality",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we think the company's international presence provides new growth opportunities, diversifies revenue, and damps cyclicality, it also exposes the company to foreign currency, economic, operational, and political risks.",
    "output": "[Cause] the company's international presence [Relation] cause [Effect] exposes the company to foreign currency, economic, operational, and political risks",
    "gold": "[Cause]  the company's international presence [Relation] cause [Effect] exposes the company to foreign currency, economic, operational, and political risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, the bank competes at scale, with over $2 trillion in assets under management AUM and almost $3 trillion in total client assets, and consistent positive net flows, making the bank one of the largest global asset managers.",
    "output": "[Cause] the bank competes at scale, with over $2 trillion in assets under management AUM and almost $3 trillion in total client assets, and consistent positive net flows [Relation] enable [Effect] the bank one of the largest global asset managers",
    "gold": "[Cause] the bank competes at scale, with over $2 trillion in assets under management AUM and almost $3 trillion in total client assets, and consistent positive net flows [Relation] enable [Effect]  the bank one of the largest global asset managers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the long run, the primary risk facing Vontier is the increasing penetration of electric vehicles, which could disrupt Vontier's legacy retail fueling business and pressure hand tool sales in its franchise distribution business.",
    "output": "[Cause] the increasing penetration of electric vehicles [Relation] cause [Effect] disrupt Vontier's legacy retail fueling business and pressure hand tool sales in its franchise distribution business",
    "gold": "[Cause] the increasing penetration of electric vehicles [Relation] cause [Effect] disrupt Vontier's legacy retail fueling business and pressure hand tool sales in its franchise distribution business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customer switching costs are elevated for Apple users as a non-Apple iOS experience does not exist, unlike computing platforms for the Windows or Android ecosystems that boast PCs and smartphones from a multitude of firms.",
    "output": "[Cause] a non-Apple iOS experience does not exist [Relation] cause [Effect] Customer switching costs are elevated for Apple users",
    "gold": "[Cause]  a non-Apple iOS experience does not exist [Relation] cause [Effect] Customer switching costs are elevated for Apple users",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This combination of chatbots and RPA frees employees from manual, repetitive operations, helps reduce average handle time and costs, improves response times, and leads to happier customers and employees.",
    "output": "[Cause] This combination of chatbots and RPA [Relation] enable [Effect] happier customers and employees",
    "gold": "[Cause] frees employees from manual, repetitive operations [Relation] cause [Effect] reduce average handle time and costs, improves response times, and leads to happier customers and employees",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our projected EBITDA margin expansion鈥200 basis points from 2019 to 2024鈥攊s driven mostly by the wireline segment, as the upgrade to FTTH from copper should require less maintenance and fewer service calls.",
    "output": "[Cause] the wireline segment [Relation] cause [Effect] Our projected EBITDA margin expansion200 basis points from 2019 to 2024s",
    "gold": "[Cause] the wireline segment [Relation] enable [Effect] EBITDA margin expansion鈥200 basis points from 2019 to 2024鈥攊s",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our projected EBITDA margin expansion鈥200 basis points from 2019 to 2024鈥攊s driven mostly by the wireline segment, as the upgrade to FTTH from copper should require less maintenance and fewer service calls.",
    "output": "[Cause] the upgrade to FTTH from copper should require less maintenance and fewer service calls [Relation] cause [Effect] Our projected EBITDA margin expansion200 basis points from 2019 to 2024s driven mostly by the wireline segment",
    "gold": "[Cause] the upgrade to FTTH from copper should require less maintenance and fewer service calls [Relation] cause [Effect] EBITDA margin expansion鈥200 basis points from 2019 to 2024鈥攊s driven mostly by the wireline segment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nevertheless, we believe investors should prioritize those firms that have the scale to be more aggressive on pricing near term (value-oriented players tend to outperform during economic shocks), give their customers greater access through robust digital ordering, delivery, and drive-thru capabilities, and have healthy balance sheets.",
    "output": "[Cause] robust digital ordering, delivery, and drive-thru capabilities, and have healthy balance sheets [Relation] enable [Effect] give their customers greater access",
    "gold": "[Cause]  robust digital ordering, delivery, and drive-thru capabilities, and have healthy balance sheets [Relation] enable [Effect]  have healthy balance sheets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The most significant ESG risk the firm faces is human capital risk; that is, the risk that Wesco is unable to adequately recruit, train, and retain the talent needed to sell its products and services and manage its supply chain, which could lead to lost market share.",
    "output": "[Cause] The most significant ESG risk the firm faces is human capital risk [Relation] cause [Effect] lost market share",
    "gold": "[Cause] The most significant ESG risk the firm faces is human capital risk [Relation] cause [Effect] lost market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customers are usually risk-averse and tend to stick with the incumbent supplier because reliability and safety are paramount, and any product failures could result in costly downtime.",
    "output": "[Cause] reliability and safety are paramount [Relation] cause [Effect] Customers are usually risk-averse and tend to stick with the incumbent supplier",
    "gold": "[Cause] reliability and safety are paramount [Relation] cause [Effect] Customers are usually risk-averse and tend to stick with the incumbent supplier",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customers are usually risk-averse and tend to stick with the incumbent supplier because reliability and safety are paramount, and any product failures could result in costly downtime.",
    "output": "[Cause] any product failures [Relation] cause [Effect] costly downtime",
    "gold": "[Cause] any product failures [Relation] cause [Effect] costly downtime",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We model a 10% recovery in 2022, followed by 4% organic long-term volume growth beginning in 2023, as the firm continues to expand into new channels.",
    "output": "[Cause] the firm continues to expand into new channels [Relation] cause [Effect] We model a 10% recovery in 2022, followed by 4% organic long-term volume growth beginning in 2023",
    "gold": "[Cause] the firm continues to expand into new channels [Relation] cause [Effect] We model a 10% recovery in 2022, followed by 4% organic long-term volume growth beginning in 2023",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The strong secular trend where ultrawealthy individuals grow their wealth ahead of the growth in global GDP is set to remain in place as asset prices continue to benefit from low interest rates.",
    "output": "[Cause] asset prices continue to benefit from low interest rates [Relation] cause [Effect] The strong secular trend where ultrawealthy individuals grow their wealth ahead of the growth in global GDP is set to remain in place",
    "gold": "[Cause]  low interest rates [Relation] cause [Effect] asset prices continue to benefit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also expect incremental productivity gains to persist in the years ahead as UP continues to roll out PSR--we bake in a midcycle OR near 55.7%.",
    "output": "[Cause] UP continues to roll out PSR [Relation] cause [Effect] incremental productivity gains to persist in the years ahead",
    "gold": "[Cause]  UP continues to roll out PSR [Relation] cause [Effect]  incremental productivity gains to persist in the years ahead",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we give the company's pipeline candidates fairly low probabilities of approval due to their early stages in development, Vertex is targeting several blockbuster opportunities, which amount to over $1 billion in 2026 pipeline sales.",
    "output": "[Cause] their early stages in development [Relation] cause [Effect] we give the company's pipeline candidates fairly low probabilities of approval",
    "gold": "[Cause] Vertex is targeting several blockbuster opportunities [Relation] enable [Effect] amount to over $1 billion in 2026 pipeline sales",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given Cameco has yet to receive any unfavorable ruling, we assume that Cameco will recover the CAD 785 million held in cash and letters of credit for potentially losing the dispute.",
    "output": "[Cause] Cameco has yet to receive any unfavorable ruling [Relation] cause [Effect] Cameco will recover the CAD 785 million held in cash and letters of credit for potentially losing the dispute",
    "gold": "[Cause] Cameco has yet to receive any unfavorable ruling [Relation] cause [Effect] Cameco will recover the CAD 785 million held in cash and letters of credit for potentially losing the dispute",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Shoppers are consuming more food at home during the pandemic, and Sprouts should continue to benefit, with upside in the event of additional lockdowns in its main markets.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] Shoppers are consuming more food at home",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] Shoppers are consuming more food at home",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Shoppers are consuming more food at home during the pandemic, and Sprouts should continue to benefit, with upside in the event of additional lockdowns in its main markets.",
    "output": "[Cause] upside in the event of additional lockdowns in its main markets [Relation] cause [Effect] Shoppers are consuming more food at home during the pandemic",
    "gold": "[Cause] Shoppers are consuming more food at home [Relation] cause [Effect] Sprouts should continue to benefit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Shoppers are consuming more food at home during the pandemic, and Sprouts should continue to benefit, with upside in the event of additional lockdowns in its main markets.",
    "output": "[Cause] upside in the event of additional lockdowns in its main markets [Relation] cause [Effect] Shoppers are consuming more food at home during the pandemic",
    "gold": "[Cause] upside in the event of additional lockdowns in its main markets [Relation] cause [Effect] Sprouts should continue to benefit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We are increasing our fair value estimate to $170 from $161 per share, mainly due to time value since our last update.",
    "output": "[Cause] time value since our last update [Relation] cause [Effect] We are increasing our fair value estimate to $170 from $161 per share",
    "gold": "[Cause] time value since our last update [Relation] cause [Effect] We are increasing our fair value estimate to $170 from $161 per share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Member additions leverage operating expenses, and incremental visits will further boost operating profits, as each visit generates positive gross margins.",
    "output": "[Cause] Member additions [Relation] enable [Effect] leverage operating expenses",
    "gold": "[Cause] Member additions [Relation] enable [Effect] leverage operating expenses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Member additions leverage operating expenses, and incremental visits will further boost operating profits, as each visit generates positive gross margins.",
    "output": "[Cause] each visit generates positive gross margins [Relation] cause [Effect] incremental visits will further boost operating profits",
    "gold": "[Cause] incremental visits [Relation] enable [Effect] further boost operating profits",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Member additions leverage operating expenses, and incremental visits will further boost operating profits, as each visit generates positive gross margins.",
    "output": "[Cause] incremental visits [Relation] enable [Effect] boost operating profits",
    "gold": "[Cause] each visit [Relation] cause [Effect] positive gross margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In 2019, its $436 million acquisition of Crius Energy expanded its Midwest and Northeast customer base and its $475 million acquisition of Ambit Energy increased its dominant position in the profitable Texas market.",
    "output": "[Cause] its $436 million acquisition of Crius Energy [Relation] enable [Effect] expanded its Midwest and Northeast customer base",
    "gold": "[Cause] its $436 million acquisition of Crius Energy [Relation] cause [Effect] expanded its Midwest and Northeast customer base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2019, its $436 million acquisition of Crius Energy expanded its Midwest and Northeast customer base and its $475 million acquisition of Ambit Energy increased its dominant position in the profitable Texas market.",
    "output": "[Cause] its $475 million acquisition of Ambit Energy [Relation] enable [Effect] increased its dominant position in the profitable Texas market",
    "gold": "[Cause] its $475 million acquisition of Ambit Energy [Relation] cause [Effect]  increased its dominant position in the profitable Texas market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We like Texas Instruments' moves to buy manufacturing equipment at pennies on the dollar a decade ago, which jumpstarted the firm's efforts in production on 300-millimeter silicon wafers and enabled gross margin expansion.",
    "output": "[Cause] Texas Instruments' moves to buy manufacturing equipment at pennies on the dollar a decade ago [Relation] enable [Effect] jumpstarted the firm's efforts in production on 300-millimeter silicon wafers and enabled gross margin expansion",
    "gold": "[Cause]  Texas Instruments' moves to buy manufacturing equipment at pennies on the dollar a decade ago [Relation] enable [Effect]  jumpstarted the firm's efforts in production on 300-millimeter silicon wafers and enabled gross margin expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Improvement in brand equity should rise given the pace of tailored store build-outs and category expansions, but diverse end-market expansions RH is pursuing could make it difficult to capture a cost advantage.",
    "output": "[Cause] the pace of tailored store build-outs and category expansions [Relation] cause [Effect] Improvement in brand equity should rise",
    "gold": "[Cause] Improvement in brand equity should rise given the pace of tailored store build-outs [Relation] cause [Effect] category expansions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Improvement in brand equity should rise given the pace of tailored store build-outs and category expansions, but diverse end-market expansions RH is pursuing could make it difficult to capture a cost advantage.",
    "output": "[Cause] diverse end-market expansions RH is pursuing [Relation] prevent [Effect] difficult to capture a cost advantage",
    "gold": "[Cause] diverse end-market expansions RH is pursuing [Relation] prevent [Effect] difficult to capture a cost advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Network segments will slide down slightly to 56% in 2024 from 58% in 2019 as the content costs will expand just ahead of revenue growth.",
    "output": "[Cause] the content costs will expand just ahead of revenue growth [Relation] cause [Effect] Network segments will slide down slightly to 56% in 2024 from 58% in 2019",
    "gold": "[Cause] the content costs will expand just ahead of revenue growth [Relation] cause [Effect] Network segments will slide down slightly to 56% in 2024 from 58% in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Unlike some of its competitors, Sling TV is not an attempt to repackage the entire cable bundle as Dish has decided to eschew carrying local broadcasters in many markets.",
    "output": "[Cause] Dish has decided to eschew carrying local broadcasters in many markets [Relation] cause [Effect] Sling TV is not an attempt to repackage the entire cable bundle",
    "gold": "[Cause] Dish has decided to eschew carrying local broadcasters in many markets [Relation] cause [Effect] Sling TV is not an attempt to repackage the entire cable bundle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And since we view targeted, single-cancer screening as a separate market that will not initially be affected by the development of pan-cancer tests, competitive pressures will be limited to the single-cancer focus of a smaller number of peers.",
    "output": "[Cause] we view targeted, single-cancer screening as a separate market [Relation] cause [Effect] competitive pressures will be limited to the single-cancer focus of a smaller number of peers",
    "gold": "[Cause]  we view targeted, single-cancer screening as a separate market [Relation] cause [Effect] will not initially be affected by the development of pan-cancer tests",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Domino's maintains a moderately more aggressive capital structure than much of our restaurant coverage because of its franchised business model, resulting in one of the lower cost of capital assumptions (8.2%) in the industry.",
    "output": "[Cause] its franchised business model [Relation] cause [Effect] Domino's maintains a moderately more aggressive capital structure than much of our restaurant coverage",
    "gold": "[Cause] its franchised business model [Relation] enable [Effect] Domino's maintains a moderately more aggressive capital structure than much of our restaurant coverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Operating margin declines have been exacerbated with the rationalization of products and internal locations (from medical device acquisitions). These factors have weighed on ROICs and these trends are likely to persist in the long term, in our view.",
    "output": "[Cause] Operating margin declines have been exacerbated with the rationalization of products and internal locations (from medical device acquisitions) [Relation] cause [Effect] weighed on ROICs and these trends are likely to persist in the long term, in our view",
    "gold": "[Cause] Operating margin declines have been exacerbated with the rationalization of products and internal locations (from medical device acquisitions) [Relation] cause [Effect] weighed on ROICs and these trends are likely to persist in the long term, in our view",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that M&T has a comfortable barrier to entry in these operations due to its scale as well as its strong relationships with depositors and customers.",
    "output": "[Cause] its scale as well as its strong relationships with depositors and customers [Relation] cause [Effect] M&T has a comfortable barrier to entry in these operations",
    "gold": "[Cause]  its scale as well as its strong relationships with depositors and customers [Relation] enable [Effect]  M&T has a comfortable barrier to entry in these operations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We look for robust truck-brokerage market conditions to persist throughout 2021, especially in terms of a strong contract bidding season, which is benefiting from extremely tight TL-market capacity.",
    "output": "[Cause] extremely tight TL-market capacity [Relation] cause [Effect] robust truck-brokerage market conditions to persist throughout 2021",
    "gold": "[Cause] extremely tight TL-market capacity [Relation] enable [Effect] robust truck-brokerage market conditions to persist throughout 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Similarly, as energy evolves and health-consciousness grows, category growth is beginning to come from more functional and nutritiously robust pockets.",
    "output": "[Cause] energy evolves and health-consciousness grows [Relation] cause [Effect] category growth is beginning to come from more functional and nutritiously robust pockets",
    "gold": "[Cause] energy evolves and health-consciousness grows [Relation] enable [Effect] category growth is beginning to come from more functional and nutritiously robust pockets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The weak real will also likely hold spending needs higher as a percentage of revenue than they otherwise would have been.",
    "output": "[Cause] The weak real [Relation] cause [Effect] hold spending needs higher as a percentage of revenue than they otherwise would have been",
    "gold": "[Cause] The weak real [Relation] enable [Effect] hold spending needs higher as a percentage of revenue than they otherwise would have been",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Teck's zinc/lead business has historically generated solid profits, thanks to attractive ore grades at the massive Red Dog mine in Alaska.",
    "output": "[Cause] attractive ore grades at the massive Red Dog mine in Alaska [Relation] cause [Effect] Teck's zinc/lead business has historically generated solid profits",
    "gold": "[Cause] attractive ore grades at the massive Red Dog mine in Alaska [Relation] cause [Effect] Teck's zinc/lead business has historically generated solid profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect AT&T and Verizon will increasingly turn to fixed-wireless Internet access as 5G wireless technologies emerge to close the gap with the cable companies.",
    "output": "[Cause] 5G wireless technologies emerge [Relation] cause [Effect] close the gap with the cable companies",
    "gold": "[Cause] 5G wireless technologies emerge to close the gap with the cable companies [Relation] cause [Effect] AT&T and Verizon will increasingly turn to fixed-wireless Internet access",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also expect AT&T and Verizon will increasingly turn to fixed-wireless Internet access as 5G wireless technologies emerge to close the gap with the cable companies.",
    "output": "[Cause] 5G wireless technologies emerge [Relation] cause [Effect] close the gap with the cable companies",
    "gold": "[Cause] 5G wireless technologies emerge [Relation] cause [Effect] close the gap with the cable companies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assign Regeneron a medium uncertainty rating, as the firm's future sales are well diversified with several multi-billion-dollar products launching, but revenue today still depends heavily on Eylea.",
    "output": "[Cause] revenue today still depends heavily on Eylea [Relation] cause [Effect] Regeneron a medium uncertainty rating",
    "gold": "[Cause] revenue today still depends heavily on Eylea [Relation] cause [Effect] Regeneron a medium uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, as a large chemical producer whose products are key components of plastics, Total faces the risk that environmental concerns result in bans or usage reduction that reduces demand for its products or higher costs related to reuse or recycling.",
    "output": "[Cause] a large chemical producer whose products are key components of plastics [Relation] cause [Effect] Total faces the risk that environmental concerns result in bans or usage reduction",
    "gold": "[Cause]  Total faces the risk that environmental concerns [Relation] cause [Effect] bans or usage reduction",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, as a large chemical producer whose products are key components of plastics, Total faces the risk that environmental concerns result in bans or usage reduction that reduces demand for its products or higher costs related to reuse or recycling.",
    "output": "[Cause] bans or usage reduction [Relation] cause [Effect] reduces demand for its products or higher costs related to reuse or recycling",
    "gold": "[Cause] bans or usage reduction [Relation] cause [Effect] reduces demand for its products or higher costs related to reuse or recycling",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At the product segment, we expect 25% margins in 2020 with an annual 50-basis-point decline through 2024 as the product mix continues to pressure unit margins.",
    "output": "[Cause] the product mix continues to pressure unit margins [Relation] cause [Effect] 25% margins in 2020 with an annual 50-basis-point decline through 2024",
    "gold": "[Cause] the product mix continues to pressure unit margins [Relation] cause [Effect]  25% margins in 2020 with an annual 50-basis-point decline through 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because Willis Towers Watson generally takes a percentage of premiums as commission, it is exposed to the direction of the insurance pricing cycle.",
    "output": "[Cause] Willis Towers Watson generally takes a percentage of premiums as commission [Relation] cause [Effect] it is exposed to the direction of the insurance pricing cycle",
    "gold": "[Cause] Willis Towers Watson generally takes a percentage of premiums as commission [Relation] cause [Effect] it is exposed to the direction of the insurance pricing cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, as IQVIA moves out of the implementation phase of its CRM offering and related solutions, high-margin recurring revenue will drive margin improvement as well.",
    "output": "[Cause] IQVIA moves out of the implementation phase of its CRM offering and related solutions [Relation] cause [Effect] high-margin recurring revenue will drive margin improvement as well",
    "gold": "[Cause]  IQVIA moves out of the implementation phase of its CRM offering and related solutions [Relation] cause [Effect]  high-margin recurring revenue will drive margin improvement as well",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management has said that finding land that passes the zoning restrictions in core markets is often incredibly expensive and doesn't lend itself to self-storage development.",
    "output": "[Cause] finding land that passes the zoning restrictions in core markets is often incredibly expensive [Relation] prevent [Effect] lend itself to self-storage development",
    "gold": "[Cause]  finding land that passes the zoning restrictions in core markets is often incredibly expensive [Relation] prevent [Effect] lend itself to self-storage development",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "IQiyi, Baidu's online video platform, has been a key growth driver stemming from increasing willingness to pay for premium content in China and continuous advertising demand on iQiyi.",
    "output": "[Cause] increasing willingness to pay for premium content in China and continuous advertising demand on iQiyi [Relation] cause [Effect] IQiyi, Baidu's online video platform, has been a key growth driver",
    "gold": "[Cause] increasing willingness to pay for premium content in China and continuous advertising demand on iQiyi [Relation] cause [Effect] IQiyi, Baidu's online video platform, has been a key growth driver",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, given the above average start to the 2020-21 winter combined with reduced supply as a competitor shut down a mine, we see prices rising starting in the fourth quarter of 2021.",
    "output": "[Cause] a competitor shut down a mine [Relation] cause [Effect] reduced supply",
    "gold": "[Cause] the above average start to the 2020-21 winter combined with reduced supply as a competitor shut down a mine [Relation] cause [Effect] prices rising starting in the fourth quarter of 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, given the above average start to the 2020-21 winter combined with reduced supply as a competitor shut down a mine, we see prices rising starting in the fourth quarter of 2021.",
    "output": "[Cause] a competitor shut down a mine [Relation] cause [Effect] reduced supply",
    "gold": "[Cause]  a competitor shut down a mine [Relation] cause [Effect] reduced supply",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Diamondback has been active in the play since 2007, it had a head start when the industry finally started recognizing its full potential.",
    "output": "[Cause] Diamondback has been active in the play since 2007 [Relation] cause [Effect] it had a head start when the industry finally started recognizing its full potential",
    "gold": "[Cause]  Diamondback has been active in the play since 2007 [Relation] cause [Effect] it had a head start when the industry finally started recognizing its full potential",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These components are highly engineered and help solve customer pain points like vibration or safety standards, which we think contributes to the segment's switching costs.",
    "output": "[Cause] These components are highly engineered [Relation] enable [Effect] solve customer pain points like vibration or safety standards",
    "gold": "[Cause] These components are highly engineered [Relation] enable [Effect]  solve customer pain points like vibration or safety standards",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These components are highly engineered and help solve customer pain points like vibration or safety standards, which we think contributes to the segment's switching costs.",
    "output": "[Cause] These components are highly engineered and help solve customer pain points like vibration or safety standards [Relation] cause [Effect] contributes to the segment's switching costs",
    "gold": "[Cause] These components are highly engineered and help solve customer pain points like vibration or safety standards [Relation] enable [Effect] contributes to the segment's switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "HomeGoods should remain a bright spot, with a low-20s growth rate relative to fiscal 2020 as Americans' turn homeward continues.",
    "output": "[Cause] Americans' turn homeward continues [Relation] cause [Effect] a low-20s growth rate relative to fiscal 2020",
    "gold": "[Cause] a low-20s growth rate relative to fiscal 2020 as Americans' turn homeward continues [Relation] enable [Effect] HomeGoods should remain a bright spot",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Profitability for all OCTG producers fell markedly in the 2010-14 oil and gas cycle versus the 2005-08 period, owing to global OCTG overcapacity.",
    "output": "[Cause] global OCTG overcapacity [Relation] cause [Effect] Profitability for all OCTG producers fell markedly in the 2010-14 oil and gas cycle versus the 2005-08 period",
    "gold": "[Cause] Profitability for all OCTG producers fell markedly in the 2010-14 oil and gas cycle versus the 2005-08 period [Relation] cause [Effect] global OCTG overcapacity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect a large adverse impact on roaming; however, the impact at group level is limited since roaming revenue represents only 1% of the group's total sales.",
    "output": "[Cause] roaming revenue represents only 1% of the group's total sales [Relation] cause [Effect] the impact at group level is limited",
    "gold": "[Cause]  roaming revenue represents only 1% of the group's total sales [Relation] cause [Effect] We expect a large adverse impact on roaming",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, these systems allow clients to input their own orders, freeing up significant time for Sysco's salesforce so the reps can engage in more value-added activities, such as consultative selling to increase penetration of existing accounts or following leads to secure new business.",
    "output": "[Cause] these systems allow clients to input their own orders [Relation] enable [Effect] freeing up significant time for Sysco's salesforce",
    "gold": "[Cause] freeing up significant time [Relation] cause [Effect] reps can engage in more value-added activities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think the metals business (known as SS&M), debt load, coronavirus risk, and the seating segments' struggles will weigh on the shares for a long time, so investors will need to be patient, as we believe Adient is a multiyear turnaround story.",
    "output": "[Cause] the metals business (known as SS&M), debt load, coronavirus risk, and the seating segments' struggles will weigh on the shares for a long time [Relation] cause [Effect] investors will need to be patient",
    "gold": "[Cause]  the metals business (known as SS&M), debt load, coronavirus risk, and the seating segments' struggles will weigh on the shares for a long time [Relation] cause [Effect] investors will need to be patient",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Johnson Controls' cost-cutting initiatives contribute about 100 basis points to our margin expansion forecast, with an increased mix of higher-margin service revenue and operating leverage accounting for the rest.",
    "output": "[Cause] Johnson Controls' cost-cutting initiatives [Relation] enable [Effect] contribute about 100 basis points to our margin expansion forecast",
    "gold": "[Cause] an increased mix of higher-margin service revenue and operating leverage [Relation] enable [Effect] our margin expansion forecast",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, services may decrease toward half of sales in fiscal 2023 versus 56% in fiscal 2019, as customers require less on-premises maintenance and support.",
    "output": "[Cause] customers require less on-premises maintenance and support [Relation] cause [Effect] services may decrease toward half of sales in fiscal 2023 versus 56% in fiscal 2019",
    "gold": "[Cause] customers require less on-premises maintenance and support [Relation] cause [Effect] services may decrease toward half of sales in fiscal 2023 versus 56% in fiscal 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This allows both companies to actively manage their order backlogs to reduce cyclicality, despite the intense cyclicality of the customer base.",
    "output": "[Cause] This [Relation] enable [Effect] both companies to actively manage their order backlogs",
    "gold": "[Cause] This [Relation] enable [Effect] both companies to actively manage their order backlogs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The significant jump in client count is due to Paylocity's move down market, which also caused some headwinds to revenue per customer.",
    "output": "[Cause] Paylocity's move down market [Relation] cause [Effect] The significant jump in client count",
    "gold": "[Cause] Paylocity's move down market [Relation] cause [Effect] The significant jump in client count",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The significant jump in client count is due to Paylocity's move down market, which also caused some headwinds to revenue per customer.",
    "output": "[Cause] Paylocity's move down market [Relation] cause [Effect] The significant jump in client count",
    "gold": "[Cause] significant jump in client count [Relation] cause [Effect] some headwinds to revenue per customer",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe resulting virtually on-demand availability cannot be matched by subscale peers, enabling Genuine Parts to act as a consolidator.",
    "output": "[Cause] virtually on-demand availability cannot be matched by subscale peers [Relation] enable [Effect] Genuine Parts to act as a consolidator",
    "gold": "[Cause] virtually on-demand availability cannot be matched by subscale peers [Relation] enable [Effect] Genuine Parts to act as a consolidator",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since existing customers remain in the same Microsoft environment, applications and data are easily moved from on-premises to the cloud.",
    "output": "[Cause] existing customers remain in the same Microsoft environment [Relation] cause [Effect] applications and data are easily moved from on-premises to the cloud",
    "gold": "[Cause] existing customers remain in the same Microsoft environment [Relation] cause [Effect] applications and data are easily moved from on-premises to the cloud",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Different consumer preferences across geographies led to an increase in clearance and promotional activity, while operating across multiple countries and brands resulted in disjointed distribution networks and stock inefficiencies.",
    "output": "[Cause] Different consumer preferences across geographies [Relation] cause [Effect] an increase in clearance and promotional activity",
    "gold": "[Cause] Different consumer preferences across geographies [Relation] cause [Effect] an increase in clearance and promotional activity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our underlying earnings per share growth averages around 6.3% per year over this period, driven by the operation leverage inherent in the telecom business model and associate earnings contributions from Tower Company.",
    "output": "[Cause] the operation leverage inherent in the telecom business model and associate earnings contributions from Tower Company [Relation] cause [Effect] Our underlying earnings per share growth averages around 6.3% per year over this period",
    "gold": "[Cause] the operation leverage inherent in the telecom business model and associate earnings contributions from Tower Company [Relation] enable [Effect] Our underlying earnings per share growth averages around 6.3% per year over this period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While technological advancement combined with greater scale and fewer branches should help improve operating efficiency over time, the constant reinvestment of cost savings does not seem to be abating anytime soon.",
    "output": "[Cause] technological advancement combined with greater scale and fewer branches [Relation] enable [Effect] improve operating efficiency over time",
    "gold": "[Cause]  technological advancement combined with greater scale and fewer branches should help improve operating efficiency over time [Relation] cause [Effect] the constant reinvestment of cost savings does not seem to be abating anytime soon",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After adjusting our financial model and lowering our investment yield expectations, we are decreasing our fair value estimate for MetLife to $42 from $44.",
    "output": "[Cause] adjusting our financial model and lowering our investment yield expectations [Relation] cause [Effect] decreasing our fair value estimate for MetLife to $42 from $44",
    "gold": "[Cause] adjusting our financial model and lowering our investment yield expectations [Relation] cause [Effect] decreasing our fair value estimate for MetLife to $42 from $44",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moderna is already serving a critical role in vaccinating millions of individuals during the pandemic and has several potential first-in-class vaccines in testing that could serve significant unmet needs.",
    "output": "[Cause] Moderna is already serving a critical role in vaccinating millions of individuals during the pandemic and has several potential first-in-class vaccines in testing [Relation] enable [Effect] serve significant unmet needs",
    "gold": "[Cause] Moderna is already serving a critical role in vaccinating millions of individuals during the pandemic and has several potential first-in-class vaccines in testing [Relation] enable [Effect]  serve significant unmet needs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We like Amazon's ability to compete in digital media, given its sizable customer base, the symbiotic hardware/software ecosystem of its Kindle, Fire TV, Dash, and Echo products, and intriguing advertising and licensing possibilities with Amazon's Echo and other Alexa-enabled voice-recognition products.",
    "output": "[Cause] its sizable customer base, the symbiotic hardware/software ecosystem of its Kindle, Fire TV, Dash, and Echo products, and intriguing advertising and licensing possibilities with Amazon's Echo and other Alexa-enabled voice-recognition products [Relation] cause [Effect] We like Amazon's ability to compete in digital media",
    "gold": "[Cause]  its sizable customer base, the symbiotic hardware/software ecosystem of its Kindle, Fire TV, Dash, and Echo products, and intriguing advertising and licensing possibilities with Amazon's Echo and other Alexa-enabled voice-recognition products [Relation] cause [Effect] We like Amazon's ability to compete in digital media",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thus, in 2019 slack truckload capacity gutted intermodal activity, diverting meaningful volume back to the highways, and COVID-19 disruption effectively pushed those headwinds into the first half of 2020.",
    "output": "[Cause] in 2019 slack truckload capacity gutted intermodal activity, diverting meaningful volume back to the highways, and COVID-19 disruption effectively pushed those headwinds into the first half of 2020 [Relation] cause [Effect] in 2019 slack truckload capacity",
    "gold": "[Cause]  slack truckload capacity [Relation] cause [Effect] gutted intermodal activity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "And, the slow industry growth holds potential competitors at bay given that new entrants would find it difficult to take meaningful share and the reward for doing so would be relatively small.",
    "output": "[Cause] new entrants would find it difficult to take meaningful share and the reward for doing so would be relatively small [Relation] cause [Effect] the slow industry growth holds potential competitors at bay",
    "gold": "[Cause] new entrants would find it difficult to take meaningful share and the reward for doing so would be relatively small [Relation] cause [Effect] the slow industry growth holds potential competitors at bay",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the biggest driver of the top line over the next two years to be an expansion in wireless revenue per user, which was hurt most by the pandemic because of the loss of roaming revenue, which we project to gradually return over the next two years.",
    "output": "[Cause] the loss of roaming revenue [Relation] cause [Effect] the biggest driver of the top line over the next two years to be an expansion in wireless revenue per user",
    "gold": "[Cause] the loss of roaming revenue [Relation] cause [Effect] hurt most by the pandemic",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, we think Accenture generates industry-leading returns on capital because of its scale, given that there are only so many blueprints and software partners an IT services company needs to solve enterprise problems.",
    "output": "[Cause] there are only so many blueprints and software partners an IT services company needs to solve enterprise problems [Relation] cause [Effect] Accenture generates industry-leading returns on capital because of its scale",
    "gold": "[Cause] there are only so many blueprints and software partners an IT services company needs to solve enterprise problems [Relation] cause [Effect] Accenture generates industry-leading returns on capital because of its scale",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company has built a leading network of user-generated reviews and travel content (experiences, restaurants, and hotels), which continues to drive high levels of traffic.",
    "output": "[Cause] The company has built a leading network of user-generated reviews and travel content [Relation] enable [Effect] drive high levels of traffic",
    "gold": "[Cause] a leading network of user-generated reviews and travel content (experiences, restaurants, and hotels) [Relation] enable [Effect] drive high levels of traffic",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we think intellectual property is helpful for keeping competitors from getting too close to the specifications of the Omnipod, we also recognize that among medical technology products, innovation cycles are often quick and new products are commonly commercialized even before existing patents have run their course.",
    "output": "[Cause] among medical technology products, innovation cycles are often quick and new products are commonly commercialized even before existing patents have run their course [Relation] enable [Effect] keeping competitors from getting too close to the specifications of the Omnipod",
    "gold": "[Cause] among medical technology products, innovation cycles are often quick [Relation] cause [Effect] new products are commonly commercialized even before existing patents have run their course",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Intangible assets in CPG typically start first and foremost with strong brands, as every other competitive benefit that can manifest boasts a clear nexus to the CPG firm's trademarks.",
    "output": "[Cause] every other competitive benefit that can manifest boasts a clear nexus to the CPG firm's trademarks [Relation] cause [Effect] Intangible assets in CPG typically start first and foremost with strong brands",
    "gold": "[Cause]  every other competitive benefit that can manifest boasts a clear nexus to the CPG firm's trademarks [Relation] cause [Effect] Intangible assets in CPG typically start first and foremost with strong brands",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Tightening environmental compliance regulations could require significant capital investment or added operating costs, which could have uncertain cost recovery through traditional regulated rates.",
    "output": "[Cause] Tightening environmental compliance regulations could require significant capital investment or added operating costs [Relation] cause [Effect] uncertain cost recovery through traditional regulated rates",
    "gold": "[Cause] Tightening environmental compliance regulations could require significant capital investment or added operating costs [Relation] cause [Effect]  uncertain cost recovery through traditional regulated rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm has already shown some signs of weakness from competitive pressures, as its adjusted ROIC including goodwill dropped from 23% to 11% between 2011 and 2019 (before turning negative during the pandemic).",
    "output": "[Cause] its adjusted ROIC including goodwill dropped from 23% to 11% between 2011 and 2019 [Relation] cause [Effect] The firm has already shown some signs of weakness from competitive pressures",
    "gold": "[Cause] its adjusted ROIC including goodwill dropped from 23% to 11% between 2011 and 2019 [Relation] cause [Effect] The firm has already shown some signs of weakness from competitive pressures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Power markets, weather, and reliance on government subsidies for renewable energy create some uncertainty around Avangrid's long-term earnings strength at its renewable energy business.",
    "output": "[Cause] Power markets, weather, and reliance on government subsidies for renewable energy [Relation] cause [Effect] some uncertainty around Avangrid's long-term earnings strength at its renewable energy business",
    "gold": "[Cause] Power markets, weather, and reliance on government subsidies for renewable energy [Relation] cause [Effect] some uncertainty around Avangrid's long-term earnings strength at its renewable energy business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's hospital clients appear reluctant to pull out of its system due to regulatory pressures and testing consistency concerns.",
    "output": "[Cause] regulatory pressures and testing consistency concerns [Relation] cause [Effect] The firm's hospital clients appear reluctant to pull out of its system",
    "gold": "[Cause]  regulatory pressures and testing consistency concerns [Relation] cause [Effect] The firm's hospital clients appear reluctant to pull out of its system",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that COVID-19 poses a related risk to Oracle, in that it could accelerate enterprises' digital transformation efforts, which could include changing workloads to the cloud.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] a related risk to Oracle",
    "gold": "[Cause] accelerate enterprises' digital transformation efforts, which could include changing workloads to the cloud [Relation] cause [Effect] COVID-19 poses a related risk to Oracle",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think that COVID-19 poses a related risk to Oracle, in that it could accelerate enterprises' digital transformation efforts, which could include changing workloads to the cloud.",
    "output": "[Cause] accelerate enterprises' digital transformation efforts [Relation] cause [Effect] changing workloads to the cloud",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect]  risk to Oracle",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Each rung on the value ladder is a higher-margin service, and a shift to full-service can increase margin up to the 70% range, compared with component-only margin of 20%. Therefore, West is highly motivated to expand the breadth and depth of its service offerings and to bring customers up the value chain.",
    "output": "[Cause] Each rung on the value ladder is a higher-margin service, and a shift to full-service can increase margin up to the 70% range, compared with component-only margin of 20% [Relation] cause [Effect] West is highly motivated to expand the breadth and depth of its service offerings and to bring customers up the value chain",
    "gold": "[Cause] Each rung on the value ladder is a higher-margin service, and a shift to full-service can increase margin up to the 70% range, compared with component-only margin of 20% [Relation] cause [Effect] West is highly motivated to expand the breadth and depth of its service offerings and to bring customers up the value chain",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the substantial operating uncertainties and lack of visibility, we are giving management credit for about a third of these synergies at midcycle.",
    "output": "[Cause] the substantial operating uncertainties and lack of visibility [Relation] cause [Effect] we are giving management credit for about a third of these synergies at midcycle",
    "gold": "[Cause]  the substantial operating uncertainties and lack of visibility [Relation] cause [Effect] we are giving management credit for about a third of these synergies at midcycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Some of its past offerings have been clunky, and we believe the firm's efforts to streamline its business should lead to meaningful margin expansion and higher retention in the years ahead.",
    "output": "[Cause] the firm's efforts to streamline its business [Relation] cause [Effect] meaningful margin expansion and higher retention in the years ahead",
    "gold": "[Cause] the firm's efforts to streamline its business [Relation] enable [Effect] meaningful margin expansion and higher retention in the years ahead",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, due to COVID-19 and the increasing uncertainty around the economy and the potential downside, we are currently assigning M&T a high uncertainty rating.",
    "output": "[Cause] COVID-19 and the increasing uncertainty around the economy and the potential downside [Relation] cause [Effect] we are currently assigning M&T a high uncertainty rating",
    "gold": "[Cause] COVID-19 and the increasing uncertainty around the economy and the potential downside [Relation] enable [Effect] we are currently assigning M&T a high uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect companywide adjusted EBITDA margin will improve slightly to roughly 15% by 2025, compared with 14.1% in 2020. This increase is primarily driven by a mix shift toward the company's higher margin aggregates operations, mild operating leverage, and cost efficiencies on logistics.",
    "output": "[Cause] a mix shift toward the company's higher margin aggregates operations, mild operating leverage, and cost efficiencies on logistics [Relation] cause [Effect] companywide adjusted EBITDA margin will improve slightly to roughly 15% by 2025, compared with 14.1% in 2020",
    "gold": "[Cause] a mix shift toward the company's higher margin aggregates operations, mild operating leverage, and cost efficiencies on logistics [Relation] enable [Effect] companywide adjusted EBITDA margin will improve slightly to roughly 15% by 2025, compared with 14.1% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect 5% compound annual growth during that period from Baxter's medication delivery segment with success in expected infusion pump launches helping Baxter get back to a more normal growth pattern in 2020 and beyond after recent IV solution headwinds.",
    "output": "[Cause] success in expected infusion pump launches [Relation] enable [Effect] Baxter get back to a more normal growth pattern in 2020 and beyond after recent IV solution headwinds",
    "gold": "[Cause] success in expected infusion pump launches [Relation] cause [Effect] Baxter get back to a more normal growth pattern in 2020 and beyond after recent IV solution headwinds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Tesla's gross margin, all else constant, would have a negative mix shift over time as the cheaper Model 3, Model Y, and a planned $25,000 vehicle become the vast majority of volume, but battery costs should also decline significantly.",
    "output": "[Cause] the cheaper Model 3, Model Y, and a planned $25,000 vehicle become the vast majority of volume [Relation] cause [Effect] Tesla's gross margin, all else constant, would have a negative mix shift over time",
    "gold": "[Cause] the cheaper Model 3, Model Y, and a planned $25,000 vehicle become the vast majority of volume [Relation] cause [Effect] Tesla's gross margin, all else constant, would have a negative mix shift over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the elimination of unprofitable SKUs and unproductive promotional spending, the mix shift to higher-margin products, divestitures of low-margin businesses, and productivity cost savings will help boost consolidated gross margins to nearly 29% over the long term from 23% reported in fiscal 2020.",
    "output": "[Cause] the elimination of unprofitable SKUs and unproductive promotional spending, the mix shift to higher-margin products, divestitures of low-margin businesses, and productivity cost savings [Relation] enable [Effect] boost consolidated gross margins to nearly 29% over the long term from 23% reported in fiscal 2020",
    "gold": "[Cause] the elimination of unprofitable SKUs and unproductive promotional spending, the mix shift to higher-margin products, divestitures of low-margin businesses, and productivity cost savings [Relation] cause [Effect] boost consolidated gross margins to nearly 29% over the long term from 23% reported in fiscal 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The most intriguing opportunity is in India, which, given the country's large population, could be an evergreen source of growth for the firm.",
    "output": "[Cause] The most intriguing opportunity is in India [Relation] enable [Effect] be an evergreen source of growth for the firm",
    "gold": "[Cause] the country's large population [Relation] enable [Effect] be an evergreen source of growth for the firm",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In fact, we suspect that absent government intervention the rational number of competitors on the continent would be two, via additional consolidation.",
    "output": "[Cause] absent government intervention [Relation] cause [Effect] the rational number of competitors on the continent would be two, via additional consolidation",
    "gold": "[Cause] absent government intervention [Relation] enable [Effect] the rational number of competitors on the continent would be two, via additional consolidation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see meaningful downside for the iron ore price from current levels, but acknowledge that tighter markets will take time to normalise as the effects of China's fiscal and monetary stimulus wane.",
    "output": "[Cause] the effects of China's fiscal and monetary stimulus wane [Relation] cause [Effect] tighter markets will take time to normalise",
    "gold": "[Cause] the effects of China's fiscal and monetary stimulus wane [Relation] cause [Effect] tighter markets will take time to normalise",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Range has historically outspent cash flows in most years, and this investment has not paid off yet because commodity prices have deteriorated far more than expected.",
    "output": "[Cause] commodity prices have deteriorated far more than expected [Relation] cause [Effect] Range has historically outspent cash flows in most years, and this investment has not paid off yet",
    "gold": "[Cause] commodity prices have deteriorated far more than expected [Relation] cause [Effect] Range has historically outspent cash flows in most years, and this investment has not paid off yet",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Another example is Fluke's innovative noncontact voltage technology, which enables electricians to simultaneously measure voltage and current without tapping into live electricity, thereby increasing safety and reducing measurement time by up to 80%.",
    "output": "[Cause] Fluke's innovative noncontact voltage technology [Relation] enable [Effect] electricians to simultaneously measure voltage and current without tapping into live electricity",
    "gold": "[Cause] Fluke's innovative noncontact voltage technology [Relation] enable [Effect] electricians to simultaneously measure voltage and current without tapping into live electricity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While our margin expansion trajectory is slower than what Intuitive has been able to deliver recently, we believe several factors will slow this expansion in future, such as mix toward lower-priced procedures, the roll out of lower-priced platforms that carry lower margins, and eventual pressure from competition.",
    "output": "[Cause] mix toward lower-priced procedures, the roll out of lower-priced platforms that carry lower margins, and eventual pressure from competition [Relation] cause [Effect] slow this expansion in future",
    "gold": "[Cause] mix toward lower-priced procedures, the roll out of lower-priced platforms that carry lower margins, and eventual pressure from competition [Relation] cause [Effect]  slow this expansion in future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Amphenol's Interconnect segment boasts switching costs resulting from its position as an integrated design partner into mission critical systems in many of its end markets, as well as intangible assets in high-tech connector and sensor design that allow Amphenol to maintain pricing power with its customers.",
    "output": "[Cause] its position as an integrated design partner into mission critical systems in many of its end markets, as well as intangible assets in high-tech connector and sensor design [Relation] enable [Effect] Amphenol's Interconnect segment boasts switching costs",
    "gold": "[Cause] Amphenol's Interconnect segment boasts switching costs resulting from its position as an integrated design partner into mission critical systems [Relation] enable [Effect]  allow Amphenol to maintain pricing power with its customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, Kingfisher lack a specific niche end customer and is overexposed to slower-growth categories in the home improvement market, such as DIY (relative to trade customers and so-called do-it-for-me customers) where switching costs are low and products can be purchased elsewhere, resulting in competitive pricing rivalry driving returns downwards.",
    "output": "[Cause] Kingfisher lack a specific niche end customer and is overexposed to slower-growth categories in the home improvement market [Relation] cause [Effect] competitive pricing rivalry driving returns downwards",
    "gold": "[Cause] Kingfisher lack a specific niche end customer and is overexposed to slower-growth categories in the home improvement market [Relation] prevent [Effect] competitive pricing rivalry driving returns downwards",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Still, free cash flow generation has been quite resilient even during periods of declining sales, and the firm has historically used little or no debt, so we think it will maintain its financial flexibility throughout the business cycle.",
    "output": "[Cause] free cash flow generation has been quite resilient even during periods of declining sales, and the firm has historically used little or no debt [Relation] enable [Effect] maintain its financial flexibility throughout the business cycle",
    "gold": "[Cause]  free cash flow generation has been quite resilient even during periods of declining sales, and the firm has historically used little or no debt [Relation] enable [Effect]  maintain its financial flexibility throughout the business cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As manufacturers of gasoline engines have improved their fuel economy, the efficiency gap between gasoline and diesel engines has narrowed.",
    "output": "[Cause] manufacturers of gasoline engines have improved their fuel economy [Relation] cause [Effect] the efficiency gap between gasoline and diesel engines has narrowed",
    "gold": "[Cause] manufacturers of gasoline engines have improved their fuel economy [Relation] cause [Effect] the efficiency gap between gasoline and diesel engines has narrowed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because Manhattan provides all these discrete but related solutions on a single platform, we believe it is a very attractive solution to customers, as it presents a unified view.",
    "output": "[Cause] it presents a unified view [Relation] cause [Effect] it is a very attractive solution to customers",
    "gold": "[Cause] it presents a unified view [Relation] enable [Effect] it is a very attractive solution to customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because Manhattan provides all these discrete but related solutions on a single platform, we believe it is a very attractive solution to customers, as it presents a unified view.",
    "output": "[Cause] it presents a unified view [Relation] cause [Effect] it is a very attractive solution to customers",
    "gold": "[Cause] Manhattan provides all these discrete but related solutions on a single platform [Relation] enable [Effect] it is a very attractive solution to customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, the rise of the public cloud has resulted in an increasing need to access data from different databases in one place.",
    "output": "[Cause] the rise of the public cloud [Relation] cause [Effect] an increasing need to access data from different databases in one place",
    "gold": "[Cause] the rise of the public cloud [Relation] cause [Effect] an increasing need to access data from different databases in one place",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Brand loyalty tends to be stronger in premium price segments, which benefits BAT less than Philip Morris International, but more than Imperial and Japan Tobacco.",
    "output": "[Cause] Brand loyalty tends to be stronger in premium price segments [Relation] enable [Effect] benefits BAT less than Philip Morris International, but more than Imperial and Japan Tobacco",
    "gold": "[Cause] Brand loyalty tends to be stronger in premium price segments [Relation] cause [Effect]  benefits BAT less than Philip Morris International, but more than Imperial and Japan Tobacco",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the significant learning curve required on such detailed application software, we think initial training on Autodesk software is key to its incumbency.",
    "output": "[Cause] the significant learning curve required on such detailed application software [Relation] cause [Effect] initial training on Autodesk software is key to its incumbency",
    "gold": "[Cause] the significant learning curve required on such detailed application software [Relation] cause [Effect] initial training on Autodesk software is key to its incumbency",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although Lloyds has strongly reduced its risk profile since the financial crisis in 2008, the possibility of a disorderly, or no-deal, Brexit creates significant uncertainty around its short- to medium-term outlook.",
    "output": "[Cause] the possibility of a disorderly, or no-deal [Relation] cause [Effect] Brexit creates significant uncertainty around its short- to medium-term outlook",
    "gold": "[Cause]  the possibility of a disorderly, or no-deal [Relation] cause [Effect] Brexit creates significant uncertainty around its short- to medium-term outlook",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The challenge for Plains in the aftermath of the OPEC+ breakdown and COVID-19 short-term demand destruction is Permian volumes are going to be highly volatile, with declines expected in 2020 and 2021 before an expected recovery in 2022.",
    "output": "[Cause] The challenge for Plains in the aftermath of the OPEC+ breakdown and COVID-19 short-term demand destruction [Relation] cause [Effect] Permian volumes are going to be highly volatile, with declines expected in 2020 and 2021 before an expected recovery in 2022",
    "gold": "[Cause] in the aftermath of the OPEC+ breakdown and COVID-19 short-term demand destruction is Permian volumes are going to be highly volatile [Relation] cause [Effect] declines expected in 2020 and 2021 before an expected recovery in 2022",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If the federal government decided to overrule state laws, the Hawthorne segment's customer base of legal indoor or greenhouse cannabis growers could disappear.",
    "output": "[Cause] the federal government decided to overrule state laws [Relation] cause [Effect] the Hawthorne segment's customer base of legal indoor or greenhouse cannabis growers could disappear",
    "gold": "[Cause] the federal government decided to overrule state laws [Relation] cause [Effect] the Hawthorne segment's customer base of legal indoor or greenhouse cannabis growers could disappear",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Airlines have a long history of irrational competition due to low entry barriers and high exit barriers in the industry and a price-sensitive customer.",
    "output": "[Cause] low entry barriers and high exit barriers in the industry and a price-sensitive customer [Relation] cause [Effect] Airlines have a long history of irrational competition",
    "gold": "[Cause] low entry barriers and high exit barriers in the industry and a price-sensitive customer [Relation] cause [Effect] Airlines have a long history of irrational competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These chips tend to be used in a wide range of simpler electronic products, and as a result, Microchip benefits by not being overly exposed to a single technology segment or customer.",
    "output": "[Cause] These chips tend to be used in a wide range of simpler electronic products [Relation] cause [Effect] Microchip benefits by not being overly exposed to a single technology segment or customer",
    "gold": "[Cause] These chips tend to be used in a wide range of simpler electronic products [Relation] cause [Effect] Microchip benefits by not being overly exposed to a single technology segment or customer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the customer expects a low-frills environment and to buy in bulk to cut costs, Costco can hold store capital needs in check while reducing the number of times a product ready for an end user is handled from delivery to sale, contributing to industry-leading real estate efficiency.",
    "output": "[Cause] the customer expects a low-frills environment and to buy in bulk to cut costs [Relation] cause [Effect] Costco can hold store capital needs in check while reducing the number of times a product ready for an end user is handled from delivery to sale",
    "gold": "[Cause]  the customer expects a low-frills environment and to buy in bulk to cut costs [Relation] enable [Effect]  Costco can hold store capital needs in check while reducing the number of times a product ready for an end user is handled from delivery to sale",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Beyond digital downloads, the microtransactions in both \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"GTA Online\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" and \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"NBA 2K\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" help extend the economic returns from a title while providing high-margin revenue and increasing customer engagement.",
    "output": "[Cause] the microtransactions in both \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"",
    "gold": "[Cause] Beyond digital downloads, the microtransactions in both \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"GTA Online\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" and \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"NBA 2K\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" [Relation] enable [Effect] help extend the economic returns from a title while providing high-margin revenue and increasing customer engagement",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "By generating valuable data for businesses that keeps costs down and productivity high, Paycom enhances its switching costs; this offering is unique and shifting to a new vendor would mean the loss of a vast quantity of data that was driving time and monetary cost savings.",
    "output": "[Cause] generating valuable data for businesses [Relation] enable [Effect] keeps costs down and productivity high",
    "gold": "[Cause] generating valuable data for businesses [Relation] enable [Effect] keeps costs down and productivity high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By generating valuable data for businesses that keeps costs down and productivity high, Paycom enhances its switching costs; this offering is unique and shifting to a new vendor would mean the loss of a vast quantity of data that was driving time and monetary cost savings.",
    "output": "[Cause] shifting to a new vendor [Relation] cause [Effect] the loss of a vast quantity of data that was driving time and monetary cost savings",
    "gold": "[Cause] generating valuable data for businesses [Relation] enable [Effect] Paycom enhances its switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "By generating valuable data for businesses that keeps costs down and productivity high, Paycom enhances its switching costs; this offering is unique and shifting to a new vendor would mean the loss of a vast quantity of data that was driving time and monetary cost savings.",
    "output": "[Cause] shifting to a new vendor [Relation] cause [Effect] the loss of a vast quantity of data that was driving time and monetary cost savings",
    "gold": "[Cause]  the loss of a vast quantity of data [Relation] prevent [Effect]  time and monetary cost savings",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "TransDigm has the demonstrated capacity to increase pricing on airlines, even in times of distress, which gives us confidence that the firm can continue to grow even if sales volumes are pressured for a few years by a declining average fleet age.",
    "output": "[Cause] TransDigm has the demonstrated capacity to increase pricing on airlines, even in times of distress [Relation] enable [Effect] the firm can continue to grow even if sales volumes are pressured for a few years by a declining average fleet age",
    "gold": "[Cause] TransDigm has the demonstrated capacity to increase pricing on airlines [Relation] enable [Effect] gives us confidence that the firm can continue to grow",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These relationships, primarily with middle-market businesses, result in switching costs as it becomes costly to switch to a new bank, integrate on its systems, and switch to bankers who may not be as intimately familiar with your business.",
    "output": "[Cause] These relationships, primarily with middle-market businesses [Relation] cause [Effect] switching costs",
    "gold": "[Cause] These relationships, primarily with middle-market businesses [Relation] cause [Effect] switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These relationships, primarily with middle-market businesses, result in switching costs as it becomes costly to switch to a new bank, integrate on its systems, and switch to bankers who may not be as intimately familiar with your business.",
    "output": "[Cause] These relationships, primarily with middle-market businesses [Relation] cause [Effect] switching costs",
    "gold": "[Cause]  it becomes costly to switch to a new bank, integrate on its systems, and switch to bankers who may not be as intimately familiar with your busines [Relation] cause [Effect] These relationships, primarily with middle-market businesses, result in switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With positive demographic trends and the potential for a public option related to Medicare, we see Medicare Advantage as one of the most attractive growth opportunities in health insurance.",
    "output": "[Cause] positive demographic trends and the potential for a public option related to Medicare [Relation] enable [Effect] we see Medicare Advantage as one of the most attractive growth opportunities in health insurance",
    "gold": "[Cause]  positive demographic trends and the potential for a public option related to Medicare [Relation] enable [Effect] we see Medicare Advantage as one of the most attractive growth opportunities in health insurance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, given the close location of the assets to Phillips 66's refineries, Phillips 66 and PSXP have an economic incentive to work together.",
    "output": "[Cause] the close location of the assets to Phillips 66's refineries [Relation] cause [Effect] Phillips 66 and PSXP have an economic incentive to work together",
    "gold": "[Cause]  the close location of the assets to Phillips 66's refineries [Relation] enable [Effect] Phillips 66 and PSXP have an economic incentive to work together",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Such concern can also be viewed as an ESG risk related to human capital as lack of enough background checks may put riders at risk and lessen the quality of Lyft's services.",
    "output": "[Cause] lack of enough background checks may put riders at risk and lessen the quality of Lyft's services [Relation] cause [Effect] Such concern can also be viewed as an ESG risk related to human capital",
    "gold": "[Cause] lack of enough background checks may put riders at risk and lessen the quality of Lyft's services [Relation] cause [Effect] Such concern can also be viewed as an ESG risk related to human capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe CenterPoint is on a path to exit its midstream investment after which almost all remaining earnings will be from regulated electric and natural gas utilities. Consequently, the greatest risk the company faces is regulation that does not allow it to recover operating expenses and a return on invested capital.",
    "output": "[Cause] CenterPoint is on a path to exit its midstream investment after which almost all remaining earnings will be from regulated electric and natural gas utilities [Relation] cause [Effect] the greatest risk the company faces is regulation that does not allow it to recover operating expenses and a return on invested capital",
    "gold": "[Cause] CenterPoint is on a path to exit its midstream investment after which almost all remaining earnings will be from regulated electric and natural gas utilities [Relation] cause [Effect]  the greatest risk the company faces is regulation that does not allow it to recover operating expenses and a return on invested capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While F5 has traditionally showcased revenue concentration, we posit that being dropped from a line card or not properly incentivizing the resellers and partners to sell F5 solutions versus competitors could be drastic for the company.",
    "output": "[Cause] being dropped from a line card or not properly incentivizing the resellers and partners to sell F5 solutions versus competitors [Relation] cause [Effect] drastic for the company",
    "gold": "[Cause] being dropped from a line card or not properly incentivizing the resellers and partners to sell F5 solutions versus competitors [Relation] cause [Effect] drastic for the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the biggest near-term risk could be significant pressure on hospital capital spending budgets as we get through the pandemic.",
    "output": "[Cause] we get through the pandemic [Relation] cause [Effect] the biggest near-term risk could be significant pressure on hospital capital spending budgets",
    "gold": "[Cause] we get through the pandemic [Relation] cause [Effect] the biggest near-term risk could be significant pressure on hospital capital spending budgets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect AMN's sizable pool of workers should help the firm to drive top- and bottom-line growth over an economic cycle.",
    "output": "[Cause] AMN's sizable pool of workers [Relation] enable [Effect] the firm to drive top- and bottom-line growth over an economic cycle",
    "gold": "[Cause] AMN's sizable pool of workers [Relation] enable [Effect] the firm to drive top- and bottom-line growth over an economic cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, Equinor's strategic plans call for a move away from hydrocarbons, which should insulate it to a greater degree than peers from any carbon tax.",
    "output": "[Cause] Equinor's strategic plans call for a move away from hydrocarbons [Relation] enable [Effect] insulate it to a greater degree than peers from any carbon tax",
    "gold": "[Cause] Equinor's strategic plans call for a move away from hydrocarbons [Relation] enable [Effect] insulate it to a greater degree than peers from any carbon tax",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The older viewer base could cap the ability of the network to grow ad revenue and hinder its ability in the future to replace advertisers if more buyers abandon Fox News or its hosts.",
    "output": "[Cause] more buyers abandon Fox News or its hosts [Relation] cause [Effect] The older viewer base could cap the ability of the network to grow ad revenue and hinder its ability in the future to replace advertisers",
    "gold": "[Cause] more buyers abandon Fox News or its hosts [Relation] cause [Effect] The older viewer base could cap the ability of the network to grow ad revenue and hinder its ability in the future to replace advertisers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Oregon has faced the opposite problem, as an excessive amount of cultivation licenses has led to market oversupply, driving cannabis prices lower.",
    "output": "[Cause] an excessive amount of cultivation licenses has led to market oversupply [Relation] cause [Effect] driving cannabis prices lower",
    "gold": "[Cause] an excessive amount of cultivation licenses has led to market oversupply [Relation] cause [Effect]  driving cannabis prices lower",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Moore's Law has propelled advancements in the semiconductor industry for many years, this has been slowing down as chips become smaller and smaller. As a result, chip designers seek to differentiate themselves by creating custom chip designs that are optimized for specific use cases and can exhibit greater performance.",
    "output": "[Cause] While Moore's Law has propelled advancements in the semiconductor industry for many years, this has been slowing down as chips become smaller and smaller [Relation] cause [Effect] chip designers seek to differentiate themselves by creating custom chip designs that are optimized for specific use cases and can exhibit greater performance",
    "gold": "[Cause] While Moore's Law has propelled advancements in the semiconductor industry for many years, this has been slowing down as chips become smaller and smaller [Relation] cause [Effect] chip designers seek to differentiate themselves by creating custom chip designs that are optimized for specific use cases and can exhibit greater performance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a tradition of capable leadership, Nucor has historically improved its competitive positioning during cyclical downturns thanks to disciplined capital allocation.",
    "output": "[Cause] disciplined capital allocation [Relation] enable [Effect] Nucor has historically improved its competitive positioning during cyclical downturns",
    "gold": "[Cause] disciplined capital allocation [Relation] cause [Effect] Nucor has historically improved its competitive positioning during cyclical downturns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At the retail business, we expect normalized gross margins to level off near 20%, resulting in midcycle EBITDA near $1.1 billion. This assumes the retail business grows large enough to create an effective hedge for about half of the generation earnings.",
    "output": "[Cause] normalized gross margins to level off near 20%, resulting in midcycle EBITDA near $1.1 billion [Relation] cause [Effect] the retail business grows large enough to create an effective hedge for about half of the generation earnings",
    "gold": "[Cause] normalized gross margins to level off near 20%, resulting in midcycle EBITDA near $1.1 billion [Relation] cause [Effect] the retail business grows large enough to create an effective hedge for about half of the generation earnings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Lennar's home sales gross margin to average about 23.5% over the next decade due a sustained period of pricing power over the next few years and as cost-saving initiatives more than offset cost headwinds related to a tight supply of construction labor and land competition.",
    "output": "[Cause] a sustained period of pricing power over the next few years and as cost-saving initiatives more than offset cost headwinds related to a tight supply of construction labor and land competition [Relation] cause [Effect] Lennar's home sales gross margin to average about 23.5% over the next decade",
    "gold": "[Cause] a sustained period of pricing power over the next few years and as cost-saving initiatives more than offset cost headwinds related to a tight supply of construction labor and land competition [Relation] cause [Effect]  Lennar's home sales gross margin to average about 23.5% over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given our outlook that the cannabis industry will grow 9 times from 2018 to 2030, Hawthorne is well positioned to drive significant growth.",
    "output": "[Cause] our outlook that the cannabis industry will grow 9 times from 2018 to 2030 [Relation] enable [Effect] Hawthorne is well positioned to drive significant growth",
    "gold": "[Cause] our outlook that the cannabis industry will grow 9 times from 2018 to 2030 [Relation] cause [Effect] Hawthorne is well positioned to drive significant growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lastly, Sysco is launching teams that specialize in various cuisines (Italian, Asian, Mexican) that should drive market share gains in ethnic restaurants.",
    "output": "[Cause] Sysco is launching teams that specialize in various cuisines (Italian, Asian, Mexican) [Relation] enable [Effect] market share gains in ethnic restaurants",
    "gold": "[Cause] Sysco is launching teams that specialize in various cuisines (Italian, Asian, Mexican) [Relation] enable [Effect] market share gains in ethnic restaurants",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ferguson has also consistently increased organic revenue above the market's rate of growth due to more customer wins, higher proportion of own brand sales, and more cross-selling opportunities with professional contractors as Ferguson expands its footprint and product offering.",
    "output": "[Cause] more customer wins, higher proportion of own brand sales, and more cross-selling opportunities with professional contractors as Ferguson expands its footprint and product offering [Relation] cause [Effect] Ferguson has also consistently increased organic revenue above the market's rate of growth",
    "gold": "[Cause]  more customer wins, higher proportion of own brand sales, and more cross-selling opportunities with professional contractors as Ferguson expands its footprint and product offering [Relation] cause [Effect] Ferguson has also consistently increased organic revenue above the market's rate of growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Excluding an expected drop to less than 2% in fiscal 2021 due to COVID-19, we forecast average ROICs of 9.3% for the company in fiscal 2022-30, falling marginally short of our 9.5% estimate for its weighted average cost of capital.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] an expected drop to less than 2% in fiscal 2021",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect]  an expected drop to less than 2% in fiscal 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, IT services consulting firms boast high switching costs because of the continuity in understanding a client's technology infrastructure over a long period of time.",
    "output": "[Cause] the continuity in understanding a client's technology infrastructure over a long period of time [Relation] cause [Effect] IT services consulting firms boast high switching costs",
    "gold": "[Cause] the continuity in understanding a client's technology infrastructure over a long period of time [Relation] cause [Effect] IT services consulting firms boast high switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our opinion, operational changes to improve the omnichannel experience should support the firm's competitive position, even if existing-home sales and turnover become more volatile.",
    "output": "[Cause] operational changes to improve the omnichannel experience [Relation] enable [Effect] support the firm's competitive position",
    "gold": "[Cause] operational changes to improve the omnichannel experience [Relation] enable [Effect] support the firm's competitive position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There is a risk that fewer seats on these subscriptions are sold if such OEMs decided to release fewer aircraft models than normal.",
    "output": "[Cause] such OEMs decided to release fewer aircraft models than normal [Relation] cause [Effect] There is a risk that fewer seats on these subscriptions are sold",
    "gold": "[Cause]  such OEMs decided to release fewer aircraft models than normal [Relation] cause [Effect] There is a risk that fewer seats on these subscriptions are sold",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Online sales have skyrocketed, validating Target's digital strategy (using stores as omnichannel fulfillment hubs) but complicating execution and adding cost pressure that could linger after leverage abates once sales normalize.",
    "output": "[Cause] complicating execution and adding cost pressure [Relation] cause [Effect] linger after leverage abates once sales normalize",
    "gold": "[Cause] Online sales have skyrocketed [Relation] cause [Effect] complicating execution and adding cost pressure",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Online sales have skyrocketed, validating Target's digital strategy (using stores as omnichannel fulfillment hubs) but complicating execution and adding cost pressure that could linger after leverage abates once sales normalize.",
    "output": "[Cause] complicating execution and adding cost pressure [Relation] cause [Effect] linger after leverage abates once sales normalize",
    "gold": "[Cause] complicating execution and adding cost pressure [Relation] cause [Effect] linger after leverage abates once sales normalize",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While shifts away from balance sheet-based lending for corporates in Europe toward capital markets financing will benefit Barclays through its strong position in debt capital origination, we believe Barclays will find it harder to make inroads into the top-tier investment banking ranks globally.",
    "output": "[Cause] shifts away from balance sheet-based lending for corporates in Europe toward capital markets financing [Relation] enable [Effect] benefit Barclays through its strong position in debt capital origination",
    "gold": "[Cause] shifts away from balance sheet-based lending for corporates in Europe toward capital markets financing [Relation] cause [Effect] benefit Barclays through its strong position in debt capital origination",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nordson generates a healthy stream of recurring revenue tied to its large installed base, as over half of its sales (57% in fiscal 2020) are generated from aftermarket parts and consumables.",
    "output": "[Cause] over half of its sales (57% in fiscal 2020) are generated from aftermarket parts and consumables [Relation] cause [Effect] Nordson generates a healthy stream of recurring revenue tied to its large installed base",
    "gold": "[Cause] over half of its sales (57% in fiscal 2020) are generated from aftermarket parts and consumables [Relation] cause [Effect] Nordson generates a healthy stream of recurring revenue tied to its large installed base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After its third-quarter results, we raised our fair value estimate for eBay to $55 per share from $52 based on a more optimistic core marketplace growth outlook the next five years.",
    "output": "[Cause] a more optimistic core marketplace growth outlook the next five years [Relation] cause [Effect] we raised our fair value estimate for eBay to $55 per share from $52",
    "gold": "[Cause] a more optimistic core marketplace growth outlook the next five years [Relation] cause [Effect] we raised our fair value estimate for eBay to $55 per share from $52",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If carbon taxes are enacted, airlines would likely pass the costs onto the consumer, which we anticipate would reduce aggregate travel demand.",
    "output": "[Cause] carbon taxes are enacted [Relation] cause [Effect] airlines would likely pass the costs onto the consumer",
    "gold": "[Cause]  carbon taxes are enacted [Relation] enable [Effect]  airlines would likely pass the costs onto the consumer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If carbon taxes are enacted, airlines would likely pass the costs onto the consumer, which we anticipate would reduce aggregate travel demand.",
    "output": "[Cause] carbon taxes are enacted [Relation] cause [Effect] airlines would likely pass the costs onto the consumer",
    "gold": "[Cause]  carbon taxes are enacted [Relation] cause [Effect] reduce aggregate travel demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our opinion is that Nokia is wisely diversifying itself by offering software solutions like software-defined networking while targeting a wider swath of customers like hyperscale cloud providers and enterprises.",
    "output": "[Cause] offering software solutions like software-defined networking while targeting a wider swath of customers like hyperscale cloud providers and enterprises [Relation] enable [Effect] Nokia is wisely diversifying itself",
    "gold": "[Cause] offering software solutions like software-defined networking while targeting a wider swath of customers like hyperscale cloud providers and enterprises [Relation] enable [Effect] Nokia is wisely diversifying itself",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As each additional endpoint becomes part of CrowdStrike's platform, its cloud gains more insight into threats, which makes a better product and causes more customers to join.",
    "output": "[Cause] each additional endpoint becomes part of CrowdStrike's platform [Relation] cause [Effect] its cloud gains more insight into threats",
    "gold": "[Cause] each additional endpoint becomes part of CrowdStrike's platform [Relation] cause [Effect]  its cloud gains more insight into threats",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As each additional endpoint becomes part of CrowdStrike's platform, its cloud gains more insight into threats, which makes a better product and causes more customers to join.",
    "output": "[Cause] its cloud gains more insight into threats [Relation] cause [Effect] makes a better product and causes more customers to join",
    "gold": "[Cause]  its cloud gains more insight into threats [Relation] cause [Effect] makes a better product and causes more customers to join",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's international operations are relatively small but may pose operating risks, including currency risk, regulations of a different set of laws, and standards.",
    "output": "[Cause] The company's international operations are relatively small [Relation] cause [Effect] pose operating risks, including currency risk, regulations of a different set of laws, and standards",
    "gold": "[Cause] The company's international operations are relatively small [Relation] cause [Effect] pose operating risks, including currency risk, regulations of a different set of laws, and standards",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This benefits CBRE in that it can leverage certain parts of its business, such as research and consulting, and it benefits clients, who receive a more tailored experience.",
    "output": "[Cause] It can leverage certain parts of its business, such as research and consulting [Relation] enable [Effect] This benefits CBRE",
    "gold": "[Cause] This benefits CBRE in that it can leverage certain parts of its business, such as research and consulting [Relation] enable [Effect] and it benefits clients, who receive a more tailored experience.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This creates powerful network effects as the number of traders that already utilize CME's exchanges ensures that its contracts have good liquidity, increasing their value to other customers.",
    "output": "[Cause] the number of traders that already utilize CME's exchanges ensures that its contracts have good liquidity [Relation] cause [Effect] This creates powerful network effects",
    "gold": "[Cause]  the number of traders that already utilize CME's exchanges [Relation] cause [Effect] its contracts have good liquidity, increasing their value to other customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, with ongoing accounting issues and enough associated noise to leave us unconvinced the sale is ironclad, we believe an extreme rating is still warranted until the deal is finalized, or at least until GTT can file all its required financials with the SEC.",
    "output": "[Cause] ongoing accounting issues and enough associated noise to leave us unconvinced the sale is ironclad [Relation] cause [Effect] an extreme rating is still warranted until the deal is finalized, or at least until GTT can file all its required financials with the SEC",
    "gold": "[Cause] ongoing accounting issues and enough associated noise to leave us unconvinced the sale is ironclad [Relation] cause [Effect] an extreme rating is still warranted until the deal is finalized, or at least until GTT can file all its required financials with the SEC",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Based on AMD's product pipeline, particularly on the CPU side, we think the firm is better positioned than it has in over a decade.",
    "output": "[Cause] AMD's product pipeline, particularly on the CPU side [Relation] cause [Effect] the firm is better positioned than it has in over a decade",
    "gold": "[Cause] AMD's product pipeline, particularly on the CPU side [Relation] enable [Effect] the firm is better positioned than it has in over a decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We don't deny that in-house R&D is important just to keep up with printer tech, however, we think Xerox would do better by increasing its PARC headcount in order to cater to more enterprise commissions from the likes of Boeing, given the group's impressive track record.",
    "output": "[Cause] increasing its PARC headcount [Relation] enable [Effect] Xerox would do better",
    "gold": "[Cause] increasing its PARC headcount [Relation] enable [Effect] Xerox would do better",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We don't deny that in-house R&D is important just to keep up with printer tech, however, we think Xerox would do better by increasing its PARC headcount in order to cater to more enterprise commissions from the likes of Boeing, given the group's impressive track record.",
    "output": "[Cause] increasing its PARC headcount [Relation] enable [Effect] cater to more enterprise commissions from the likes of Boeing",
    "gold": "[Cause] Xerox would do better [Relation] enable [Effect]  cater to more enterprise commissions from the likes of Boeing",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We don't deny that in-house R&D is important just to keep up with printer tech, however, we think Xerox would do better by increasing its PARC headcount in order to cater to more enterprise commissions from the likes of Boeing, given the group's impressive track record.",
    "output": "[Cause] increasing its PARC headcount [Relation] enable [Effect] cater to more enterprise commissions from the likes of Boeing",
    "gold": "[Cause] given the group's impressive track record [Relation] enable [Effect]  cater to more enterprise commissions from the likes of Boeing",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Longer term, with its stringent focus on extracting costs, we think the firm remains committed to fueling addditional brand spend (which we forecast will amount to 6% of sales over the next 10 years, or about $400 million annually, up from 5% on average the past three years).",
    "output": "[Cause] its stringent focus on extracting costs [Relation] cause [Effect] the firm remains committed to fueling addditional brand spend",
    "gold": "[Cause] its stringent focus on extracting costs [Relation] cause [Effect]  the firm remains committed to fueling addditional brand spend",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The expansion into ambulatory was primarily driven by the preference for a single-source provider with inpatient and outpatient capabilities with the evolution toward value-based reimbursement.",
    "output": "[Cause] the preference for a single-source provider with inpatient and outpatient capabilities with the evolution toward value-based reimbursement [Relation] cause [Effect] The expansion into ambulatory",
    "gold": "[Cause] the preference for a single-source provider with inpatient and outpatient capabilities with the evolution toward value-based reimbursement [Relation] cause [Effect] The expansion into ambulatory",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The dynamic of increasing content per vehicle or unit also potentially raises switching costs as well as insulates revenue and profits from the worst of the industrial market's cyclical downturns.",
    "output": "[Cause] The dynamic of increasing content per vehicle or unit [Relation] cause [Effect] potentially raises switching costs as well as insulates revenue and profits from the worst of the industrial market's cyclical downturns",
    "gold": "[Cause] The dynamic of increasing content per vehicle or unit [Relation] enable [Effect] potentially raises switching costs as well as insulates revenue and profits from the worst of the industrial market's cyclical downturns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, Ferguson has a more flexible cost structure and lower capital expenditure requirements than many industrial companies, supporting strong cash flow generation during downturns.",
    "output": "[Cause] Ferguson has a more flexible cost structure and lower capital expenditure requirements than many industrial companies [Relation] enable [Effect] supporting strong cash flow generation during downturns",
    "gold": "[Cause] Ferguson has a more flexible cost structure and lower capital expenditure requirements than many industrial companies [Relation] cause [Effect] supporting strong cash flow generation during downturns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Firms can clean up their operations in the field as much as possible by avoiding unnecessary flaring and using technologies like electric fracking and carbon capture to reduce CO2 volumes being released into the atmosphere during the extraction process.",
    "output": "[Cause] avoiding unnecessary flaring and using technologies like electric fracking and carbon capture [Relation] enable [Effect] Firms can clean up their operations in the field as much as possible",
    "gold": "[Cause] clean up their operations in the field [Relation] prevent [Effect]  avoiding unnecessary flaring and using technologies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, the stakes aren't quite as high, in our opinion, because the vast majority of Idexx's diagnostics business is focused on pets.",
    "output": "[Cause] the vast majority of Idexx's diagnostics business is focused on pets [Relation] cause [Effect] the stakes aren't quite as high",
    "gold": "[Cause]  the vast majority of Idexx's diagnostics business is focused on pets [Relation] cause [Effect]  the stakes aren't quite as high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, consolidation in the DRAM space has led to more disciplined capital expenditure and less volatile market dynamics, which should benefit Micron going forward as DRAM accounts for about 70% of total revenue.",
    "output": "[Cause] consolidation in the DRAM space [Relation] cause [Effect] more disciplined capital expenditure and less volatile market dynamics",
    "gold": "[Cause] DRAM accounts for about 70% of total revenue [Relation] cause [Effect] benefit Micron going forward",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As a result, we forecast fourth-quarter 2020 sales to decrease a low-20% versus the 18% fall in the third quarter, leading to Airbnb's 2020 revenue declining 30%.",
    "output": "[Cause] fourth-quarter 2020 sales to decrease a low-20% versus the 18% fall in the third quarter [Relation] cause [Effect] Airbnb's 2020 revenue declining 30%",
    "gold": "[Cause]  fourth-quarter 2020 sales to decrease a low-20% versus the 18% fall in the third quarter [Relation] cause [Effect]  Airbnb's 2020 revenue declining 30%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The drug remains well positioned, as its 12-week dosing and potential high-dose formulation should allow it to continue to hold strong market share against Lucentis, Avastin, and Novartis' Beovu.",
    "output": "[Cause] its 12-week dosing and potential high-dose formulation [Relation] enable [Effect] allow it to continue to hold strong market share against Lucentis, Avastin, and Novartis' Beovu",
    "gold": "[Cause] its 12-week dosing and potential high-dose formulation should allow it to continue to hold strong market share against Lucentis, Avastin, and Novartis' Beovu [Relation] enable [Effect]  drug remains well positioned",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we do expect the company's growth to decelerate in the near term, as a result of the global pandemic, we are comforted knowing that its stickier subscription business has fared much better than its services business throughout the pandemic.",
    "output": "[Cause] the global pandemic [Relation] cause [Effect] the company's growth to decelerate in the near term",
    "gold": "[Cause] the global pandemic [Relation] cause [Effect] the company's growth to decelerate in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we do expect the company's growth to decelerate in the near term, as a result of the global pandemic, we are comforted knowing that its stickier subscription business has fared much better than its services business throughout the pandemic.",
    "output": "[Cause] the global pandemic [Relation] cause [Effect] the company's growth to decelerate in the near term",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] we are comforted knowing that its stickier subscription business has fared much better than its services business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we expect an uneven return to normalcy due to varying paces of pandemic recovery globally, we're encouraged by management's vision for the business, which we believe should enable McDonald's to maintain its competitive edge.",
    "output": "[Cause] varying paces of pandemic recovery globally [Relation] cause [Effect] an uneven return to normalcy",
    "gold": "[Cause] varying paces of pandemic recovery globally [Relation] cause [Effect] an uneven return to normalcy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the business had managed to prop up its net income number via the sale of a Spanish joint venture, the numbers masked a EUR 2.7 billion write-down on its collateralised debt obligation portfolio, and we already know how this story ends.",
    "output": "[Cause] the business had managed to prop up its net income number via the sale of a Spanish joint venture [Relation] cause [Effect] the numbers masked a EUR 2.7 billion write-down on its collateralised debt obligation portfolio",
    "gold": "[Cause]  the business had managed to prop up its net income number via the sale of a Spanish joint venture [Relation] cause [Effect] the numbers masked a EUR 2.7 billion write-down on its collateralised debt obligation portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "When used-vehicle prices are fall, CarMax could have quarters with gross margin compression as a vehicle's retail price will fall after CarMax purchases it.",
    "output": "[Cause] a vehicle's retail price will fall after CarMax purchases it [Relation] cause [Effect] When used-vehicle prices are fall, CarMax could have quarters with gross margin compression",
    "gold": "[Cause] a vehicle's retail price will fall after CarMax purchases it [Relation] cause [Effect] When used-vehicle prices are fall, CarMax could have quarters with gross margin compression",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This dynamic can compress Landstar's gross margins percentage (net revenue/gross revenue) on business hauled by broker-carriers in the short run as the company passes through higher carrier rates to customers on a time lag.",
    "output": "[Cause] the company passes through higher carrier rates to customers on a time lag [Relation] cause [Effect] This dynamic can compress Landstar's gross margins percentage (net revenue/gross revenue) on business hauled by broker-carriers in the short run",
    "gold": "[Cause] the company passes through higher carrier rates to customers on a time lag [Relation] cause [Effect] This dynamic can compress Landstar's gross margins percentage (net revenue/gross revenue) on business hauled by broker-carriers in the short run",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "According to a \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"Successful Farming\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" report of top 2019 pork producers in the U.S., Tyson was listed as the 14th largest, which we view as too small to warrant a scale-driven cost advantage.",
    "output": "[Cause] too small [Relation] cause [Effect] warrant a scale-driven cost advantage",
    "gold": "[Cause] Tyson was listed as the 14th largest [Relation] prevent [Effect] warrant a scale-driven cost advantage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Combined with most consumption taking place in social settings, as well as the ''social currency'' that many individuals derive from these occasions, we believe resonant brands are particularly advantaged in this space.",
    "output": "[Cause] most consumption taking place in social settings, as well as the ''social currency'' that many individuals derive from these occasions [Relation] cause [Effect] resonant brands are particularly advantaged in this space",
    "gold": "[Cause] most consumption taking place in social settings, as well as the ''social currency'' that many individuals derive from these occasions [Relation] cause [Effect] resonant brands are particularly advantaged in this space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Brief summer heat spells in 2018 and 2019 along with the 2021 winter storm show that growing demand can also create more energy price volatility.",
    "output": "[Cause] growing demand [Relation] enable [Effect] create more energy price volatility",
    "gold": "[Cause] growing demand [Relation] enable [Effect] create more energy price volatility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Sensata's customers continue to face switching costs, enabling the firm to retain its significant market share in several applications in major end markets.",
    "output": "[Cause] Sensata's customers continue to face switching costs [Relation] enable [Effect] the firm to retain its significant market share in several applications in major end markets",
    "gold": "[Cause] Sensata's customers continue to face switching costs [Relation] enable [Effect] the firm to retain its significant market share in several applications in major end markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also look for intermodal container repositioning costs to ease and box turns to improve this year as Class I rail service and terminal throughput recalibrate to strong demand levels.",
    "output": "[Cause] Class I rail service and terminal throughput recalibrate to strong demand levels [Relation] cause [Effect] intermodal container repositioning costs to ease and box turns to improve this year",
    "gold": "[Cause]  Class I rail service and terminal throughput recalibrate to strong demand levels [Relation] cause [Effect]  intermodal container repositioning costs to ease and box turns to improve this year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect aggregates shipment volume to grow to roughly 212 million tons within the five-year explicit forecast period of our discounted cash flow model, due to a continued recovery in construction demand and contributions from Bluegrass.",
    "output": "[Cause] a continued recovery in construction demand and contributions from Bluegrass [Relation] cause [Effect] aggregates shipment volume to grow to roughly 212 million tons within the five-year explicit forecast period of our discounted cash flow model",
    "gold": "[Cause] a continued recovery in construction demand and contributions from Bluegrass [Relation] enable [Effect] aggregates shipment volume to grow to roughly 212 million tons within the five-year explicit forecast period of our discounted cash flow model",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In particular, we think Masco's investment in the Behr pro paint offering will drive higher sales growth for the decorative architectural segment.",
    "output": "[Cause] Masco's investment in the Behr pro paint offering [Relation] enable [Effect] higher sales growth for the decorative architectural segment",
    "gold": "[Cause] Masco's investment in the Behr pro paint offering [Relation] cause [Effect] higher sales growth for the decorative architectural segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "CrowdStrike's method differs from competition who either store data on the endpoint, which requires resource-straining remote queries, or who send all data to the cloud, which can tax networks and have expense implications. This resource-friendly methodology allows CrowdStrike to efficiently move the copious amounts of data its endpoint agents are continuously collecting out to its cloud.",
    "output": "[Cause] CrowdStrike's method differs from competition who either store data on the endpoint, which requires resource-straining remote queries, or who send all data to the cloud, which can tax networks and have expense implications [Relation] enable [Effect] CrowdStrike to efficiently move the copious amounts of data its endpoint agents are continuously collecting out to its cloud",
    "gold": "[Cause] CrowdStrike's method differs from competition who either store data on the endpoint, which requires resource-straining remote queries, or who send all data to the cloud, which can tax networks and have expense implications [Relation] enable [Effect] CrowdStrike to efficiently move the copious amounts of data its endpoint agents are continuously collecting out to its cloud",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As integrated solutions with both clinical trial and selling components continue to be popular with Syneos' clients, we expect commercial solutions revenue to climb to about $1.4 billion in 2025.",
    "output": "[Cause] integrated solutions with both clinical trial and selling components continue to be popular with Syneos' clients [Relation] cause [Effect] commercial solutions revenue to climb to about $1.4 billion in 2025",
    "gold": "[Cause] integrated solutions with both clinical trial and selling components continue to be popular with Syneos' clients [Relation] enable [Effect] commercial solutions revenue to climb to about $1.4 billion in 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The Brazilian wireless market has been plagued by intense competition over the years, which could ease if TIM, Vivo, and America Movil succeed in carving up Oi.",
    "output": "[Cause] TIM, Vivo, and America Movil succeed in carving up Oi [Relation] enable [Effect] ease",
    "gold": "[Cause] The Brazilian wireless market has been plagued by intense competition over the years [Relation] prevent [Effect] could ease if TIM, Vivo, and America Movil succeed in carving up Oi",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Customers also enjoy the added benefit of converting fixed transportation management costs (such as a large traffic management department) into variable costs. These benefits generally enable Echo to garner market share from pure-play asset-based truckers as well, and we expect that to continue.",
    "output": "[Cause] Customers also enjoy the added benefit of converting fixed transportation management costs (such as a large traffic management department) into variable costs [Relation] enable [Effect] Echo to garner market share from pure-play asset-based truckers as well, and we expect that to continue",
    "gold": "[Cause] Customers also enjoy the added benefit of converting fixed transportation management costs (such as a large traffic management department) into variable costs [Relation] enable [Effect] Echo to garner market share from pure-play asset-based truckers as well, and we expect that to continue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the impressive cost saving the company has achieved in 2020, ADS has demonstrated that it is capable of effectively scaling its cost structure with the size of the firm.",
    "output": "[Cause] the impressive cost saving the company has achieved in 2020 [Relation] enable [Effect] ADS has demonstrated that it is capable of effectively scaling its cost structure with the size of the firm",
    "gold": "[Cause] the impressive cost saving the company has achieved in 2020 [Relation] cause [Effect] ADS has demonstrated that it is capable of effectively scaling its cost structure with the size of the firm",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lincoln Electric capitalizes on this through its welding schools and training programs, which create exposure to the brand and drive brand loyalty among new professional welders.",
    "output": "[Cause] Lincoln Electric capitalizes on this through its welding schools and training programs [Relation] enable [Effect] create exposure to the brand and drive brand loyalty among new professional welders",
    "gold": "[Cause] Lincoln Electric capitalizes on this through its welding schools and training programs [Relation] cause [Effect]  create exposure to the brand and drive brand loyalty among new professional welders",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "First, because the firm competes across food, beverage, and personal-care categories, it has a broader, more complex list of raw materials and manufacturing processes than its peers.",
    "output": "[Cause] the firm competes across food, beverage, and personal-care categories [Relation] cause [Effect] it has a broader, more complex list of raw materials and manufacturing processes than its peers",
    "gold": "[Cause]  the firm competes across food, beverage, and personal-care categories [Relation] cause [Effect]  it has a broader, more complex list of raw materials and manufacturing processes than its peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To achieve sustainable economic rents, we believe Agco will need to expand further into higher-margin product categories and improve its brand quality.",
    "output": "[Cause] Agco will need to expand further into higher-margin product categories and improve its brand quality [Relation] enable [Effect] achieve sustainable economic rents",
    "gold": "[Cause] expand further into higher-margin product categories and improve its brand quality [Relation] enable [Effect] Agco | To achieve sustainable economic rents",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, widespread reimbursement approvals are likely to sustain excess returns over the next decade, which we think will also be supported by future innovations by the unit.",
    "output": "[Cause] widespread reimbursement approvals [Relation] enable [Effect] excess returns over the next decade",
    "gold": "[Cause] widespread reimbursement approvals [Relation] enable [Effect] excess returns over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we believe Fastly's model lends itself to operating leverage; as its customer base gets bigger and existing customers spend more without adding commensurate costs for Fastly, the firm should turn to profitability.",
    "output": "[Cause] its customer base gets bigger and existing customers spend more without adding commensurate costs for Fastly [Relation] cause [Effect] the firm should turn to profitability",
    "gold": "[Cause] its customer base gets bigger and existing customers spend more without adding commensurate costs for Fastly [Relation] enable [Effect]  the firm should turn to profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we view Darden as a better-positioned firm following recent strategic efforts, we expect adjusted operating margin expansion to slow in the later years of our explicit forecast period as the casual dining industry consolidates and results in more significant price competition.",
    "output": "[Cause] the casual dining industry consolidates and results in more significant price competition [Relation] cause [Effect] adjusted operating margin expansion to slow in the later years of our explicit forecast period",
    "gold": "[Cause] the casual dining industry consolidates and results in more significant price competition [Relation] cause [Effect] adjusted operating margin expansion to slow in the later years of our explicit forecast period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Bancorp (payment processing portion of the business) of tearing out the current system and switching to a new issuer/processor increases switching costs.",
    "output": "[Cause] Bancorp (payment processing portion of the business) of tearing out the current system and switching to a new issuer/processor [Relation] cause [Effect] increases switching costs",
    "gold": "[Cause] Bancorp (payment processing portion of the business) of tearing out the current system and switching to a new issuer/processor [Relation] cause [Effect] increases switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we believe the existence of a large and accessible black market effectively serves as a price ceiling regarding what consumers are willing to pay.",
    "output": "[Cause] the existence of a large and accessible black market [Relation] enable [Effect] a price ceiling regarding what consumers are willing to pay",
    "gold": "[Cause]  the existence of a large and accessible black market [Relation] cause [Effect] a price ceiling regarding what consumers are willing to pay",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A growing Google presence on its search platform could lead to increasing paid search costs, as organic search traffic becomes less prominent in search results.",
    "output": "[Cause] organic search traffic becomes less prominent in search results [Relation] cause [Effect] A growing Google presence on its search platform could lead to increasing paid search costs",
    "gold": "[Cause] A growing Google presence on its search platform [Relation] cause [Effect] increasing paid search costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "There have been strikes in the past, and another one could disrupt future mining operations and hurt profits if it is not quickly resolved.",
    "output": "[Cause] it is not quickly resolved [Relation] cause [Effect] another one could disrupt future mining operations and hurt profits",
    "gold": "[Cause]  it is not quickly resolved [Relation] cause [Effect] another one could disrupt future mining operations and hurt profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The 65 brands that remained in its mix had already accounted for more than 85% of the firm's top line and 95% of its profits. As such, we didn't anticipate P&amp;G would sacrifice its scale edge but would be able to better focus its resources (both personnel and financial) on its highest-return opportunities.",
    "output": "[Cause] The 65 brands that remained in its mix had already accounted for more than 85% of the firm's top line and 95% of its profits [Relation] cause [Effect] we didn't anticipate P&amp;G would sacrifice its scale edge but would be able to better focus its resources (both personnel and financial) on its highest-return opportunities",
    "gold": "[Cause] The 65 brands that remained in its mix had already accounted for more than 85% of the firm's top line and 95% of its profits [Relation] cause [Effect] we didn't anticipate P&amp;G would sacrifice its scale edge but would be able to better focus its resources (both personnel and financial) on its highest-return opportunities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given this long product cycle, airlines tend to be conservative purchasers because they want to be reasonably certain that the manufacturer will be operating and able to service the aircraft.",
    "output": "[Cause] they want to be reasonably certain that the manufacturer will be operating and able to service the aircraft [Relation] cause [Effect] airlines tend to be conservative purchasers",
    "gold": "[Cause] they want to be reasonably certain that the manufacturer will be operating and able to service the aircraft [Relation] cause [Effect] airlines tend to be conservative purchasers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Therefore, the company is vulnerable to large cancellations and pipeline reprioritizations since it can be challenging to immediately repurpose capacity for new projects.",
    "output": "[Cause] it can be challenging to immediately repurpose capacity for new projects [Relation] cause [Effect] the company is vulnerable to large cancellations and pipeline reprioritizations",
    "gold": "[Cause]  it can be challenging to immediately repurpose capacity for new projects [Relation] cause [Effect]  the company is vulnerable to large cancellations and pipeline reprioritizations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As national customer accounts gain prominence, Grainger could face gross margin pressure, but these accounts also provide an opportunity for the company to gain market share and increase volumes, which can drive better operating leverage and improved operating margins.",
    "output": "[Cause] national customer accounts gain prominence [Relation] cause [Effect] Grainger could face gross margin pressure",
    "gold": "[Cause]  national customer accounts gain prominence [Relation] cause [Effect]  Grainger could face gross margin pressure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As national customer accounts gain prominence, Grainger could face gross margin pressure, but these accounts also provide an opportunity for the company to gain market share and increase volumes, which can drive better operating leverage and improved operating margins.",
    "output": "[Cause] these accounts also provide an opportunity for the company to gain market share and increase volumes [Relation] enable [Effect] drive better operating leverage and improved operating margins",
    "gold": "[Cause] these accounts also provide an opportunity for the company to gain market share and increase volumes [Relation] enable [Effect] drive better operating leverage and improved operating margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The crash in oil prices in the wake of the coronavirus pandemic prompted Petrobras to reduce capital spending further.",
    "output": "[Cause] The crash in oil prices in the wake of the coronavirus pandemic [Relation] cause [Effect] Petrobras to reduce capital spending further",
    "gold": "[Cause] The crash in oil prices in the wake of the coronavirus pandemic [Relation] cause [Effect] Petrobras to reduce capital spending further",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Beyond wireless, we believe TIM's minimal fixed-line network assets leave it at a disadvantage to Vivo, Movil, and, to a lesser extent, Oi.",
    "output": "[Cause] TIM's minimal fixed-line network assets [Relation] cause [Effect] it at a disadvantage to Vivo, Movil, and, to a lesser extent, Oi",
    "gold": "[Cause]  TIM's minimal fixed-line network assets [Relation] enable [Effect] it at a disadvantage to Vivo, Movil, and, to a lesser extent, Oi",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The public dealers can centralize back office operations and generate far more volume than a small dealer, which brings scale.",
    "output": "[Cause] The public dealers can centralize back office operations and generate far more volume than a small dealer [Relation] enable [Effect] brings scale",
    "gold": "[Cause] The public dealers can centralize back office operations and generate far more volume than a small dealer [Relation] cause [Effect] brings scale",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ST has especially high exposure to European manufacturers, so any slowdown in European GDP could bode poorly for future chip orders placed with ST.",
    "output": "[Cause] ST has especially high exposure to European manufacturers [Relation] cause [Effect] any slowdown in European GDP could bode poorly for future chip orders placed with ST",
    "gold": "[Cause] any slowdown in European GDP [Relation] prevent [Effect] future chip orders placed with ST",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "ST has especially high exposure to European manufacturers, so any slowdown in European GDP could bode poorly for future chip orders placed with ST.",
    "output": "[Cause] ST has especially high exposure to European manufacturers [Relation] cause [Effect] any slowdown in European GDP could bode poorly for future chip orders placed with ST",
    "gold": "[Cause] ST has especially high exposure to European manufacturers [Relation] cause [Effect] any slowdown in European GDP could bode poorly for future chip orders placed with ST",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2020, NiSource announced it would eliminate all coal-fired generation from its power plant fleet by 2028. This transition will require signing power purchase agreements for renewable energy, building new solar and wind farms, and making modifications to its electric grid.",
    "output": "[Cause] In 2020, NiSource announced it would eliminate all coal-fired generation from its power plant fleet by 2028 [Relation] cause [Effect] signing power purchase agreements for renewable energy, building new solar and wind farms, and making modifications to its electric grid",
    "gold": "[Cause]  signing power purchase agreements for renewable energy, building new solar and wind farms, and making modifications to its electric grid [Relation] enable [Effect] NiSource announced it would eliminate all coal-fired generation from its power plant fleet by 2028",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think competition over these large accounts will intensify over time along with the increasing concentration of corporate buying power.",
    "output": "[Cause] the increasing concentration of corporate buying power [Relation] cause [Effect] competition over these large accounts will intensify over time",
    "gold": "[Cause] the increasing concentration of corporate buying power [Relation] cause [Effect]  competition over these large accounts will intensify over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Protectionist policies around the world present a risk to Diageo because whisky produced outside of Scotland may not be marketed as scotch.",
    "output": "[Cause] whisky produced outside of Scotland may not be marketed as scotch [Relation] cause [Effect] Protectionist policies around the world present a risk to Diageo",
    "gold": "[Cause] whisky produced outside of Scotland may not be marketed as scotch [Relation] cause [Effect] Protectionist policies around the world present a risk to Diageo",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As with all regulated utilities, Duke faces the risk of an inflationary environment and rising interest rates that would raise borrowing costs and make other investments more attractive for income-seeking investors.",
    "output": "[Cause] Duke faces the risk of an inflationary environment and rising interest rates [Relation] cause [Effect] raise borrowing costs and make other investments more attractive for income-seeking investors",
    "gold": "[Cause] Duke faces the risk of an inflationary environment and rising interest rates [Relation] cause [Effect] raise borrowing costs and make other investments more attractive for income-seeking investors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The launch of Medtronic's 670g pump was a significant step toward closing the loop, and the next-generation 780g pump will come even closer to replicating automatic pancreatic function, which could offer tougher competition to Insulet.",
    "output": "[Cause] The launch of Medtronic's 670g pump was a significant step toward closing the loop, and the next-generation 780g pump will come even closer to replicating automatic pancreatic function [Relation] cause [Effect] offer tougher competition to Insulet",
    "gold": "[Cause] The launch of Medtronic's 670g pump was a significant step toward closing the loop, and the next-generation 780g pump will come even closer to replicating automatic pancreatic function [Relation] cause [Effect]  offer tougher competition to Insulet",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Praluent can achieve sales of more than $1 billion, and sales acceleration should follow recent price negotiations and the addition of cardiovascular outcomes data to the label in 2019.",
    "output": "[Cause] recent price negotiations and the addition of cardiovascular outcomes data to the label in 2019 [Relation] enable [Effect] Praluent can achieve sales of more than $1 billion",
    "gold": "[Cause]  recent price negotiations and the addition of cardiovascular outcomes data to the label in 2019 [Relation] cause [Effect]  Praluent can achieve sales of more than $1 billion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In fact, during a downturn in new-vehicle sales, dealers generally report higher gross margins due to a favorable mix shift to parts, but then report lower operating margins due to selling, general, and administrative deleveraging.",
    "output": "[Cause] a favorable mix shift to parts [Relation] cause [Effect] dealers generally report higher gross margins",
    "gold": "[Cause] a favorable mix shift to parts [Relation] cause [Effect] dealers generally report higher gross margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The COVID-19 pandemic has had a large negative impact on its operations over the past year, but a recovery is taking hold.",
    "output": "[Cause] The COVID-19 pandemic [Relation] cause [Effect] a large negative impact on its operations over the past year",
    "gold": "[Cause] The COVID-19 pandemic has had a large negative impact on its operations over the past year [Relation] prevent [Effect] a recovery is taking hold",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The COVID-19 pandemic has had a large negative impact on its operations over the past year, but a recovery is taking hold.",
    "output": "[Cause] The COVID-19 pandemic [Relation] cause [Effect] a recovery is taking hold",
    "gold": "[Cause] The COVID-19 pandemic [Relation] cause [Effect] a large negative impact on its operations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Sales could languish if AutoZone cannot expand its commercial profile, but faster-than-expected diversification from (more lucrative) DIY could strain margins.",
    "output": "[Cause] AutoZone cannot expand its commercial profile [Relation] cause [Effect] Sales could languish",
    "gold": "[Cause] faster-than-expected diversification from (more lucrative) DIY [Relation] enable [Effect] strain margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Sales could languish if AutoZone cannot expand its commercial profile, but faster-than-expected diversification from (more lucrative) DIY could strain margins.",
    "output": "[Cause] faster-than-expected diversification from (more lucrative) DIY [Relation] cause [Effect] strain margins",
    "gold": "[Cause] AutoZone cannot expand its commercial profile [Relation] enable [Effect] Sales could languish",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Transcore's transponders, moreover, use existing toll infrastructure, eliminating the need for costly modifications, which, to an extent, also evidences switching costs.",
    "output": "[Cause] Transcore's transponders, moreover, use existing toll infrastructure [Relation] enable [Effect] eliminating the need for costly modifications",
    "gold": "[Cause] use existing toll infrastructure, eliminating the need for costly modifications, which [Relation] cause [Effect] evidences switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think the firm's industrial revenue will stay low in 2021 as the world continues to grapple with the coronavirus pandemic, but see a strong rebound thereafter as industrial production rebounds and investments in smart and connected factories increase.",
    "output": "[Cause] the world continues to grapple with the coronavirus pandemic [Relation] cause [Effect] the firm's industrial revenue will stay low in 2021",
    "gold": "[Cause] the world continues to grapple with the coronavirus pandemic [Relation] cause [Effect]  the firm's industrial revenue will stay low in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, the company's diagnostic products should grow through an expanding installed base and test menus for its new QIAstat-Dx and NeuMoDX platforms.",
    "output": "[Cause] an expanding installed base and test menus for its new QIAstat-Dx and NeuMoDX platforms [Relation] enable [Effect] the company's diagnostic products should grow",
    "gold": "[Cause]  an expanding installed base and test menus for its new QIAstat-Dx and NeuMoDX platforms [Relation] enable [Effect] the company's diagnostic products should grow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although unlikely, it would be a damaging blow to Skyworks if it were to entirely lose its business with Apple.",
    "output": "[Cause] it were to entirely lose its business with Apple [Relation] cause [Effect] it would be a damaging blow to Skyworks",
    "gold": "[Cause] it were to entirely lose its business with Apple [Relation] enable [Effect] it would be a damaging blow to Skyworks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's strategy to take on debt to fund share repurchases results in it targeting a net debt/EBITDA ratio of greater than 7 times, and although steady cash flow should allow it to cover its obligations without concern, it's more susceptible than peers to major disruptions.",
    "output": "[Cause] The firm's strategy to take on debt to fund share repurchases [Relation] cause [Effect] it targeting a net debt/EBITDA ratio of greater than 7 times",
    "gold": "[Cause] The firm's strategy to take on debt to fund share repurchases [Relation] cause [Effect]  it targeting a net debt/EBITDA ratio of greater than 7 times",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's strategy to take on debt to fund share repurchases results in it targeting a net debt/EBITDA ratio of greater than 7 times, and although steady cash flow should allow it to cover its obligations without concern, it's more susceptible than peers to major disruptions.",
    "output": "[Cause] steady cash flow [Relation] enable [Effect] it to cover its obligations without concern",
    "gold": "[Cause] steady cash flow [Relation] enable [Effect]  it to cover its obligations without concern",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After reviewing Honeywell's announced acquisition of Sparta Systems, we raise our fair value estimate to $181 per share from $179 previously.",
    "output": "[Cause] reviewing Honeywell's announced acquisition of Sparta Systems [Relation] cause [Effect] we raise our fair value estimate to $181 per share from $179 previously",
    "gold": "[Cause] reviewing Honeywell's announced acquisition of Sparta Systems [Relation] cause [Effect] we raise our fair value estimate to $181 per share from $179 previously",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we recognize that e-commerce sales have spiked this year in response to social distancing mandates, we do not think online sales will continue to grow at the same cadence and could give up some ground once consumers are more comfortable venturing outside the home to a greater extent.",
    "output": "[Cause] consumers are more comfortable venturing outside the home to a greater extent [Relation] cause [Effect] give up some ground",
    "gold": "[Cause] consumers are more comfortable venturing outside the home to a greater extent [Relation] prevent [Effect] online sales will continue to grow  |  some ground",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, the acquisition of Bread will add incremental costs going forward as ADS works to delvelop its new product offerings.",
    "output": "[Cause] ADS works to delvelop its new product offerings [Relation] cause [Effect] the acquisition of Bread will add incremental costs going forward",
    "gold": "[Cause] ADS works to delvelop its new product offerings [Relation] cause [Effect] the acquisition of Bread will add incremental costs going forward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The change is from better fiscal 2021 and 2022 results than previously modeled in light of cost-cutting actions, a slightly weaker yen against the dollar over our forecast period, and the time value of money.",
    "output": "[Cause] cost-cutting actions, a slightly weaker yen against the dollar over our forecast period, and the time value of money [Relation] cause [Effect] The change is from better fiscal 2021 and 2022 results than previously modeled",
    "gold": "[Cause] The change is from better fiscal 2021 and 2022 results than previously modeled in light of cost-cutting actions [Relation] cause [Effect]  a slightly weaker yen against the dollar over our forecast period, and the time value of money",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the electro-pneumatic space, Parker Hannifin has introduced a range of pressure regulators that provide precise control and energy savings in railcar applications but are also built to withstand extreme temperatures up to negative 40 degrees Celsius, which extends its useful life.",
    "output": "[Cause] Parker Hannifin has introduced a range of pressure regulators [Relation] enable [Effect] provide precise control and energy savings in railcar applications but are also built to withstand extreme temperatures up to negative 40 degrees Celsius, which extends its useful life",
    "gold": "[Cause] provide precise control and energy savings in railcar applications but are also built to withstand extreme temperatures up to negative 40 degrees Celsius [Relation] enable [Effect] extends its useful life",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect COVID-19-related demand to drive online commerce market share gains in 2020, resulting in revenue growth of around 36%.",
    "output": "[Cause] COVID-19-related demand to drive online commerce market share gains in 2020 [Relation] cause [Effect] revenue growth of around 36%",
    "gold": "[Cause] COVID-19-related demand to drive online commerce market share gains in 2020 [Relation] cause [Effect] revenue growth of around 36%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These revenue streams also make it more difficult for new exchange competitors to take significant market share since they will be forced to compete on price against Nasdaq without these alternative revenue sources.",
    "output": "[Cause] they will be forced to compete on price against Nasdaq without these alternative revenue sources [Relation] cause [Effect] These revenue streams also make it more difficult for new exchange competitors to take significant market share",
    "gold": "[Cause] without these alternative revenue sources [Relation] cause [Effect] be forced to compete on price against Nasdaq",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These revenue streams also make it more difficult for new exchange competitors to take significant market share since they will be forced to compete on price against Nasdaq without these alternative revenue sources.",
    "output": "[Cause] they will be forced to compete on price against Nasdaq without these alternative revenue sources [Relation] cause [Effect] make it more difficult for new exchange competitors to take significant market share",
    "gold": "[Cause] revenue streams [Relation] cause [Effect] more difficult for new exchange competitors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As much as Pepsi has pivoted its portfolio and its messaging, it still has to battle the stigma that accompanies processed food and drink companies due to increased social awareness of the potential health implications.",
    "output": "[Cause] increased social awareness of the potential health implications [Relation] cause [Effect] it still has to battle the stigma that accompanies processed food and drink companies",
    "gold": "[Cause] increased social awareness of the potential health implications [Relation] cause [Effect] it still has to battle the stigma that accompanies processed food and drink companies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Nokia's technology business, with its stellar operating margins, to expand moderately as a result of licensing agreements with major 5G phone manufacturers, a wider array of industries signing 5G licensing deals, and a steady stream of high-margin patent and brand royalties.",
    "output": "[Cause] licensing agreements with major 5G phone manufacturers, a wider array of industries signing 5G licensing deals, and a steady stream of high-margin patent and brand royalties [Relation] cause [Effect] Nokia's technology business, with its stellar operating margins, to expand moderately",
    "gold": "[Cause]  licensing agreements with major 5G phone manufacturers, a wider array of industries signing 5G licensing deals, and a steady stream of high-margin patent and brand royalties [Relation] cause [Effect] Nokia's technology business, with its stellar operating margins, to expand moderately",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Growth targets are vague and non-committal, but we think Heineken has structural growth drivers that will allow it to generate above-average net revenue growth going forward.",
    "output": "[Cause] Heineken has structural growth drivers [Relation] enable [Effect] generate above-average net revenue growth going forward",
    "gold": "[Cause] Heineken has structural growth drivers [Relation] enable [Effect]  generate above-average net revenue growth going forward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Combined with a shift to producing a greater proportion of higher-priced Model Y vehicles, we forecast gross margins will expand to nearly 36% from the 26% level achieved in 2020, generating automotive profit growth in excess of revenue growth.",
    "output": "[Cause] gross margins will expand to nearly 36% from the 26% level achieved in 2020 [Relation] enable [Effect] generating automotive profit growth in excess of revenue growth",
    "gold": "[Cause]  gross margins will expand to nearly 36% from the 26% level achieved in 2020 [Relation] enable [Effect] generating automotive profit growth in excess of revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Large losses from the February 2021 winter storm in Texas will be a temporary setback but could enhance the long-term value of its reliable fleet.",
    "output": "[Cause] Large losses from the February 2021 winter storm in Texas [Relation] cause [Effect] enhance the long-term value of its reliable fleet",
    "gold": "[Cause] Large losses from the February 2021 winter storm in Texas [Relation] enable [Effect] enhance the long-term value of its reliable fleet",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Urban Outfitters depends on apparel (65% of fiscal 2020 sales) and is therefore exposed to fashion risk and changes in the market.",
    "output": "[Cause] Urban Outfitters depends on apparel [Relation] cause [Effect] exposed to fashion risk and changes in the market",
    "gold": "[Cause] Urban Outfitters depends on apparel [Relation] cause [Effect]  exposed to fashion risk and changes in the market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The coronavirus pandemic continues to introduce near-term risk to the business, exacerbated by idiosyncratic issues like a recent production slowdown in Mexico.",
    "output": "[Cause] idiosyncratic issues like a recent production slowdown in Mexico [Relation] cause [Effect] The coronavirus pandemic continues to introduce near-term risk to the business",
    "gold": "[Cause]  idiosyncratic issues like a recent production slowdown in Mexico [Relation] cause [Effect] The coronavirus pandemic continues to introduce near-term risk to the business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, occupancy will likely take a hit due to the impact of job losses and office users stalling on signing contracts for new space amid the prevalence of significant uncertainty.",
    "output": "[Cause] the impact of job losses and office users stalling on signing contracts for new space amid the prevalence of significant uncertainty [Relation] cause [Effect] occupancy will likely take a hit",
    "gold": "[Cause] the impact of job losses and office users stalling on signing contracts for new space amid the prevalence of significant uncertainty [Relation] cause [Effect] occupancy will likely take a hit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the stagnant number of technicians and independent repair shops offset by technology trends, we forecast 4% annual growth over the next five years.",
    "output": "[Cause] the stagnant number of technicians and independent repair shops offset by technology trends [Relation] cause [Effect] we forecast 4% annual growth over the next five years",
    "gold": "[Cause] the stagnant number of technicians and independent repair shops offset by technology trends [Relation] cause [Effect] we forecast 4% annual growth over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "When serving personalized and dynamic content, Fastly is not at a disadvantage by having far fewer PoPs than some competitors, because those PoPs wouldn't be caching the content anyway.",
    "output": "[Cause] those PoPs wouldn't be caching the content anyway [Relation] cause [Effect] Fastly is not at a disadvantage by having far fewer PoPs than some competitors",
    "gold": "[Cause] those PoPs wouldn't be caching the content anyway [Relation] cause [Effect] Fastly is not at a disadvantage by having far fewer PoPs than some competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But how can a vendor have any pricing power in an intensely competitive industry like the auto-parts sector? Generally, auto-parts suppliers are contractually obligated to reduce the price of their products annually and must use lean manufacturing practices just to prevent margin erosion.",
    "output": "[Cause] use lean manufacturing practices [Relation] prevent [Effect] margin erosion",
    "gold": "[Cause] use lean manufacturing practices [Relation] prevent [Effect] margin erosion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But how can a vendor have any pricing power in an intensely competitive industry like the auto-parts sector? Generally, auto-parts suppliers are contractually obligated to reduce the price of their products annually and must use lean manufacturing practices just to prevent margin erosion.",
    "output": "[Cause] use lean manufacturing practices [Relation] prevent [Effect] margin erosion",
    "gold": "[Cause] auto-parts suppliers are contractually obligated to reduce the price of their products annually and must use lean manufacturing practices just to prevent margin erosion [Relation] cause [Effect] a vendor have any pricing power in an intensely competitive industry",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, and consistent with banking in general, a persistently low SELIC rate (currently at a record low 2.00%) could see yields on earning assets decline sharply (and spreads decline permanently), preventing the bank from enjoying the sky-high net interest margins investors have grown accustomed to.",
    "output": "[Cause] a persistently low SELIC rate [Relation] cause [Effect] yields on earning assets decline sharply",
    "gold": "[Cause] a persistently low SELIC rate [Relation] cause [Effect] yields on earning assets decline sharply",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, and consistent with banking in general, a persistently low SELIC rate (currently at a record low 2.00%) could see yields on earning assets decline sharply (and spreads decline permanently), preventing the bank from enjoying the sky-high net interest margins investors have grown accustomed to.",
    "output": "[Cause] yields on earning assets decline sharply [Relation] prevent [Effect] the bank from enjoying the sky-high net interest margins investors have grown accustomed to",
    "gold": "[Cause] yields on earning assets decline sharply [Relation] prevent [Effect] the bank from enjoying the sky-high net interest margins investors have grown accustomed to",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With essentially identical base ingredients but fairly distinct taste profiles, leading operators can typically maintain sufficient volumes for meaningful scale advantages.",
    "output": "[Cause] essentially identical base ingredients but fairly distinct taste profiles [Relation] enable [Effect] operators can typically maintain sufficient volumes for meaningful scale advantages",
    "gold": "[Cause] essentially identical base ingredients but fairly distinct taste profiles [Relation] cause [Effect] operators can typically maintain sufficient volumes for meaningful scale advantages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Meanwhile, we do not expect PVH's heritage brands to reach their 2019 sales levels in our forecast period, as the firm permanently closes retail stores and wholesale orders remain weak.",
    "output": "[Cause] the firm permanently closes retail stores and wholesale orders remain weak [Relation] cause [Effect] we do not expect PVH's heritage brands to reach their 2019 sales levels in our forecast period",
    "gold": "[Cause] the firm permanently closes retail stores and wholesale orders remain weak [Relation] cause [Effect] we do not expect PVH's heritage brands to reach their 2019 sales levels in our forecast period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This mutual learning curve that develops over time creates significant switching cost for customers as they would have to start over if they choose to switch vendors.",
    "output": "[Cause] They would have to start over if they choose to switch vendors [Relation] cause [Effect] This mutual learning curve that develops over time creates significant switching cost for customers",
    "gold": "[Cause] they choose to switch vendors [Relation] cause [Effect] they would have to start over",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This mutual learning curve that develops over time creates significant switching cost for customers as they would have to start over if they choose to switch vendors.",
    "output": "[Cause] they would have to start over if they choose to switch vendors [Relation] cause [Effect] This mutual learning curve that develops over time creates significant switching cost for customers",
    "gold": "[Cause] This mutual learning curve [Relation] enable [Effect] develops over time creates significant switching cost for customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This mutual learning curve that develops over time creates significant switching cost for customers as they would have to start over if they choose to switch vendors.",
    "output": "[Cause] they would have to start over if they choose to switch vendors [Relation] cause [Effect] This mutual learning curve that develops over time creates significant switching cost for customers",
    "gold": "[Cause] they would have to start over if they choose to switch vendors [Relation] cause [Effect] This mutual learning curve that develops over time creates significant switching cost for customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Broadly, these core capabilities are intertwined with intangible assets (in the form of a network of patents and organizational know-how) and cost advantage (in the form of economies of scale and scope). These capabilities allow Halliburton to lower the development cost per barrel for oil and gas operators, relative to alternative products and services.",
    "output": "[Cause] these core capabilities are intertwined with intangible assets (in the form of a network of patents and organizational know-how) and cost advantage (in the form of economies of scale and scope) [Relation] enable [Effect] Halliburton to lower the development cost per barrel for oil and gas operators, relative to alternative products and services",
    "gold": "[Cause] these core capabilities are intertwined with intangible assets (in the form of a network of patents and organizational know-how) and cost advantage (in the form of economies of scale and scope) [Relation] enable [Effect] Halliburton to lower the development cost per barrel for oil and gas operators, relative to alternative products and services",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also believe the acquisition of Aclara positions Hubbell to capture customers' need for predictive maintenance tools, given the potentially catastrophic risk of loss.",
    "output": "[Cause] the potentially catastrophic risk of loss [Relation] cause [Effect] the acquisition of Aclara positions Hubbell to capture customers' need for predictive maintenance tools",
    "gold": "[Cause] the potentially catastrophic risk of loss [Relation] cause [Effect] the acquisition of Aclara positions Hubbell to capture customers' need for predictive maintenance tools",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Most of the growth is likely to come from the company's Americas and Asia-Pacific segments, thanks to more favorable demographics and per capita beverage consumption prospects.",
    "output": "[Cause] more favorable demographics and per capita beverage consumption prospects [Relation] cause [Effect] Most of the growth is likely to come from the company's Americas and Asia-Pacific segments",
    "gold": "[Cause]  more favorable demographics and per capita beverage consumption prospects [Relation] enable [Effect] Most of the growth is likely to come from the company's Americas and Asia-Pacific segments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate the flow-through from gross margins as well as leverage from sales and marketing and research and development expenses will result in a GAAP operating margin of 31% by 2025.",
    "output": "[Cause] the flow-through from gross margins as well as leverage from sales and marketing and research and development expenses [Relation] cause [Effect] a GAAP operating margin of 31% by 2025",
    "gold": "[Cause] the flow-through from gross margins as well as leverage from sales and marketing and research and development expenses [Relation] cause [Effect] a GAAP operating margin of 31% by 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, if a customer wanted to replace Zebra, it may have to find multiple vendors to accomplish the same tasks or face limits to its future capabilities.",
    "output": "[Cause] a customer wanted to replace Zebra [Relation] cause [Effect] it may have to find multiple vendors to accomplish the same tasks or face limits to its future capabilities",
    "gold": "[Cause] a customer wanted to replace Zebra [Relation] cause [Effect]  it may have to find multiple vendors to accomplish the same tasks or face limits to its future capabilities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sysco is tackling the $5 billion it spends on selling, general, and administrative expenses in order to make the organization more profitable.",
    "output": "[Cause] Sysco is tackling the $5 billion it spends on selling, general, and administrative expenses [Relation] enable [Effect] make the organization more profitable",
    "gold": "[Cause] make the organization more profitable [Relation] cause [Effect] Sysco is tackling the $5 billion it spends on selling, general, and administrative expenses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, Criteo's network effect may also weaken as future ads might have worse targeting and deliver disappointing return on investment to its advertisers.",
    "output": "[Cause] future ads might have worse targeting and deliver disappointing return on investment to its advertisers [Relation] cause [Effect] Criteo's network effect may also weaken",
    "gold": "[Cause] future ads might have worse targeting and deliver disappointing return on investment to its advertisers [Relation] cause [Effect] Criteo's network effect may also weaken",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By contrast, the fixed-line phone companies are typically incapable of increasing network speeds broadly across their networks without heavy investment to bring fiber closer to customers. As a result, large swaths of the phone network remain incapable of delivering the speeds much beyond around 20 megabits/second, increasingly falling short of customer demand.",
    "output": "[Cause] the fixed-line phone companies are typically incapable of increasing network speeds broadly across their networks without heavy investment to bring fiber closer to customers [Relation] cause [Effect] large swaths of the phone network remain incapable of delivering the speeds much beyond around 20 megabits/second, increasingly falling short of customer demand",
    "gold": "[Cause] the fixed-line phone companies are typically incapable of increasing network speeds broadly across their networks without heavy investment to bring fiber closer to customers [Relation] cause [Effect] large swaths of the phone network remain incapable of delivering the speeds much beyond around 20 megabits/second, increasingly falling short of customer demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the increase in retail earnings leaves NRG more exposed to customer energy usage trends and competitive energy supply markets.",
    "output": "[Cause] the increase in retail earnings [Relation] cause [Effect] NRG more exposed to customer energy usage trends and competitive energy supply markets",
    "gold": "[Cause] the increase in retail earnings [Relation] cause [Effect] NRG more exposed to customer energy usage trends and competitive energy supply markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sponsors are willing to pay a premium to increase the chances that their trials will get completed on time and that data will be recorded accurately with all protocols being followed.",
    "output": "[Cause] Sponsors are willing to pay a premium [Relation] enable [Effect] increase the chances that their trials will get completed on time",
    "gold": "[Cause] Sponsors are willing to pay a premium [Relation] enable [Effect] increase the chances that their trials will get completed on time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project that net charge-offs will be roughly 0.85% through the cycle, and while we see elevated charge-offs in 2021 we see provisioning falling dramatically as we think the bank likely already has excess reserves.",
    "output": "[Cause] the bank likely already has excess reserves [Relation] cause [Effect] provisioning falling dramatically",
    "gold": "[Cause] we think the bank likely already has excess reserves [Relation] cause [Effect] we see elevated charge-offs in 2021 we see provisioning falling",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We project that net charge-offs will be roughly 0.85% through the cycle, and while we see elevated charge-offs in 2021 we see provisioning falling dramatically as we think the bank likely already has excess reserves.",
    "output": "[Cause] the bank likely already has excess reserves [Relation] cause [Effect] provisioning falling dramatically",
    "gold": "[Cause] we see elevated charge-offs in 2021 we see provisioning falling [Relation] cause [Effect] We project that net charge-offs will be roughly 0.85% through the cycle",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the amount of operating leverage in a refiner, our valuation is highly dependent on our refining margin assumptions.",
    "output": "[Cause] the amount of operating leverage in a refiner [Relation] cause [Effect] our valuation is highly dependent on our refining margin assumptions",
    "gold": "[Cause] our refining margin assumptions [Relation] prevent [Effect] our valuation",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Plug load controls turn off plug loads when they're not in use, and sales are driven by recent code updates. These controls can provide 15% to 50% energy savings, with the opportunity to save more if controlled by Hubbell's occupancy sensors.",
    "output": "[Cause] Plug load controls turn off plug loads when they're not in use, and sales are driven by recent code updates [Relation] enable [Effect] provide 15% to 50% energy savings, with the opportunity to save more if controlled by Hubbell's occupancy sensors",
    "gold": "[Cause] Plug load controls turn off plug loads when they're not in use, and sales are driven by recent code updates [Relation] enable [Effect] provide 15% to 50% energy savings, with the opportunity to save more if controlled by Hubbell's occupancy sensors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Digital solutions (precision farming) are also a critical component in today's machines, helping customers make data-driven decisions to boost their productivity.",
    "output": "[Cause] Digital solutions (precision farming) are also a critical component in today's machines [Relation] enable [Effect] helping customers make data-driven decisions to boost their productivity",
    "gold": "[Cause] Digital solutions (precision farming) are also a critical component in today's machines [Relation] enable [Effect] helping customers make data-driven decisions to boost their productivity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the firm has opted to build out its mix through a handful of acquisitions to enhance its growth trajectory and diversify its category exposure, we continue to believe that its namesake brand is where its competitive edge is (which accounts for the vast majority of revenue and profits).",
    "output": "[Cause] the firm has opted to build out its mix through a handful of acquisitions [Relation] enable [Effect] enhance its growth trajectory and diversify its category exposure",
    "gold": "[Cause] a handful of acquisitions to enhance its growth trajectory and diversify its category exposure [Relation] cause [Effect] namesake brand is where its competitive edge is",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect this trend to increase for a few decades as legislated fuel economy and safety requirements compel vehicle manufacturers to incorporate a wider array of sensors, electronic systems, and complex part geometries.",
    "output": "[Cause] legislated fuel economy and safety requirements compel vehicle manufacturers to incorporate a wider array of sensors, electronic systems, and complex part geometries [Relation] cause [Effect] this trend to increase for a few decades",
    "gold": "[Cause] legislated fuel economy and safety requirements compel vehicle manufacturers to incorporate a wider array of sensors, electronic systems, and complex part geometries [Relation] enable [Effect] this trend to increase for a few decades",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, while it is our understanding hospitals will often pool procurement resources to increase bargaining power when negotiating with medical imaging providers, GE mostly continues to directly negotiate with each hospital.",
    "output": "[Cause] hospitals will often pool procurement resources [Relation] enable [Effect] increase bargaining power when negotiating with medical imaging providers",
    "gold": "[Cause] pool procurement resources to increase bargaining power [Relation] cause [Effect] mostly continues to directly negotiate with each hospital",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Refining margins have been high at around USD 10.38 per barrel in 2017, and USD 9.54 in 2018, but increased competition from excess supply in China coupled with higher freight charges will see margins normalizing.",
    "output": "[Cause] increased competition from excess supply in China coupled with higher freight charges [Relation] cause [Effect] margins normalizing",
    "gold": "[Cause] increased competition from excess supply in China coupled with higher freight charges [Relation] enable [Effect] margins normalizing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even so, we calculate that EV adoption would only eviscerate about 1% of ITT's sales mix by 2028 (just under $50 million), given ITT's current sizable installed base (market share currently sits in the mid-20s according to management).",
    "output": "[Cause] ITT's current sizable installed base (market share currently sits in the mid-20s according to management) [Relation] cause [Effect] EV adoption would only eviscerate about 1% of ITT's sales mix by 2028 (just under $50 million)",
    "gold": "[Cause] ITT's current sizable installed base (market share currently sits in the mid-20s according to management) [Relation] cause [Effect] EV adoption would only eviscerate about 1% of ITT's sales mix by 2028 (just under $50 million)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due, in part, to the strong performance of Supreme, we have raised our fiscal 2022 revenue growth and EPS expectations to 28% and $3.09, respectively, from 25% and $3.04.",
    "output": "[Cause] the strong performance of Supreme [Relation] cause [Effect] we have raised our fiscal 2022 revenue growth and EPS expectations to 28% and $3.09, respectively, from 25% and $3.04",
    "gold": "[Cause] the strong performance of Supreme [Relation] cause [Effect] we have raised our fiscal 2022 revenue growth and EPS expectations to 28% and $3.09, respectively, from 25% and $3.04",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Once the economic cycle turns, this could result in greater potential for consumer defaults as well as a longer period of decreased economic demand as consumers repair their own finances.",
    "output": "[Cause] the economic cycle turns [Relation] cause [Effect] greater potential for consumer defaults",
    "gold": "[Cause] the economic cycle turns [Relation] enable [Effect] greater potential for consumer defaults",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Once the economic cycle turns, this could result in greater potential for consumer defaults as well as a longer period of decreased economic demand as consumers repair their own finances.",
    "output": "[Cause] consumers repair their own finances [Relation] cause [Effect] a longer period of decreased economic demand",
    "gold": "[Cause] consumers repair their own finances [Relation] cause [Effect] a longer period of decreased economic demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect downside in margins in missiles and fire control, and rotary and mission systems, as the company takes on lower-margin cost-plus development contracts for hypersonic missiles and we expect the company will win the Future Vertical Lift contract.",
    "output": "[Cause] the company takes on lower-margin cost-plus development contracts for hypersonic missiles [Relation] cause [Effect] downside in margins in missiles and fire control, and rotary and mission systems",
    "gold": "[Cause] the company takes on lower-margin cost-plus development contracts for hypersonic missiles [Relation] cause [Effect]  downside in margins in missiles and fire control, and rotary and mission systems",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Compounded by a dearth of cybersecurity talent, we think that consolidated security platforms, like Fortinet's Security Fabric, will remain in high demand, as customers prefer to add capabilities via subscriptions over managing disparate software and hardware vendors.",
    "output": "[Cause] a dearth of cybersecurity talent [Relation] cause [Effect] consolidated security platforms, like Fortinet's Security Fabric, will remain in high demand",
    "gold": "[Cause] a dearth of cybersecurity talent [Relation] cause [Effect] consolidated security platforms, like Fortinet's Security Fabric, will remain in high demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Compounded by a dearth of cybersecurity talent, we think that consolidated security platforms, like Fortinet's Security Fabric, will remain in high demand, as customers prefer to add capabilities via subscriptions over managing disparate software and hardware vendors.",
    "output": "[Cause] customers prefer to add capabilities via subscriptions over managing disparate software and hardware vendors [Relation] cause [Effect] consolidated security platforms, like Fortinet's Security Fabric, will remain in high demand",
    "gold": "[Cause] customers prefer to add capabilities via subscriptions over managing disparate software and hardware vendors [Relation] cause [Effect] consolidated security platforms, like Fortinet's Security Fabric, will remain in high demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Clients of BNY Mellon's investment servicing face switching costs due to process disruption, the interconnectedness of clients' workflows, and the custodians' infrastructure as well as onboarding costs.",
    "output": "[Cause] process disruption, the interconnectedness of clients' workflows, and the custodians' infrastructure as well as onboarding costs [Relation] cause [Effect] Clients of BNY Mellon's investment servicing face switching costs",
    "gold": "[Cause]  process disruption, the interconnectedness of clients' workflows, and the custodians' infrastructure as well as onboarding costs [Relation] cause [Effect] Clients of BNY Mellon's investment servicing face switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given Pinduoduo has been aggressively expanding its market share from 3% in calendar year 2017 to 17% in 2020, we think there is a possibility of JD losing share in the future.",
    "output": "[Cause] Pinduoduo has been aggressively expanding its market share from 3% in calendar year 2017 to 17% in 2020 [Relation] cause [Effect] there is a possibility of JD losing share in the future",
    "gold": "[Cause] Pinduoduo has been aggressively expanding its market share from 3% in calendar year 2017 to 17% in 2020 [Relation] cause [Effect] there is a possibility of JD losing share in the future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the limited land available to develop, and the government's seeming preference for controlling growth of the region, we also think it is likely that there will not be any meaningful new gaming concessions or table allocations presented at the time of renewal.",
    "output": "[Cause] the limited land available to develop, and the government's seeming preference for controlling growth of the region [Relation] cause [Effect] there will not be any meaningful new gaming concessions or table allocations presented at the time of renewal",
    "gold": "[Cause]  the limited land available to develop, and the government's seeming preference for controlling growth of the region [Relation] cause [Effect]  there will not be any meaningful new gaming concessions or table allocations presented at the time of renewal",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Baxter's appetite for acquisitions also appears to be increasing, which creates some uncertainty around its ROIC trajectory and could add financial leverage to its balance sheet.",
    "output": "[Cause] Baxter's appetite for acquisitions also appears to be increasing [Relation] cause [Effect] creates some uncertainty around its ROIC trajectory and could add financial leverage to its balance sheet",
    "gold": "[Cause] Baxter's appetite for acquisitions also appears to be increasing [Relation] cause [Effect] creates some uncertainty around its ROIC trajectory and could add financial leverage to its balance sheet",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While only about 40% of Shell's 13.6 mtpa of major chemical manufacturing capacity is located in North America or the Middle East, which have abundant sources of cheap feedstock, 42% is located in Asia-Pacific, where demand is expected to resume growth once macroeconomic conditions stabilize.",
    "output": "[Cause] macroeconomic conditions stabilize [Relation] enable [Effect] demand is expected to resume growth",
    "gold": "[Cause] macroeconomic conditions stabilize [Relation] cause [Effect] demand is expected to resume growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our lower room growth forecast is driven by lower near-term construction and signing pace due to potential headwinds enamating from the recent increase in COVID-19 cases in Europe and the U.S.",
    "output": "[Cause] potential headwinds enamating from the recent increase in COVID-19 cases in Europe and the U.S [Relation] cause [Effect] lower near-term construction and signing pace",
    "gold": "[Cause] the recent increase in COVID-19 cases in Europe and the U.S. [Relation] cause [Effect] potential headwinds",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our lower room growth forecast is driven by lower near-term construction and signing pace due to potential headwinds enamating from the recent increase in COVID-19 cases in Europe and the U.S.",
    "output": "[Cause] potential headwinds enamating from the recent increase in COVID-19 cases in Europe and the U.S [Relation] cause [Effect] Our lower room growth forecast is driven by lower near-term construction and signing pace",
    "gold": "[Cause] lower near-term construction and signing pace [Relation] cause [Effect] Our lower room growth forecast",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This gives it a cost advantage over some of its larger competitors despite its more limited scale. As a result, Discover has managed to keep its operating structure lean, with efficiency ratios that have historically stayed below 40%, well below those of many traditional banks.",
    "output": "[Cause] This gives it a cost advantage over some of its larger competitors despite its more limited scale [Relation] cause [Effect] Discover has managed to keep its operating structure lean, with efficiency ratios that have historically stayed below 40%, well below those of many traditional banks",
    "gold": "[Cause] This gives it a cost advantage over some of its larger competitors despite its more limited scale [Relation] cause [Effect] Discover has managed to keep its operating structure lean, with efficiency ratios that have historically stayed below 40%, well below those of many traditional banks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because hotel accommodations are elastic in demand and most consumers are price-sensitive, competitors can easily steal occupancy by offering low rates, which happens immediately as hotels turn over their tenants each night.",
    "output": "[Cause] hotel accommodations are elastic in demand and most consumers are price-sensitive [Relation] cause [Effect] competitors can easily steal occupancy by offering low rates",
    "gold": "[Cause] hotel accommodations are elastic in demand and most consumers are price-sensitive [Relation] cause [Effect] competitors can easily steal occupancy by offering low rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the long term, adoption of electric vehicles, autonomous vehicles, and ride-sharing could reduce demand for HollyFrontier's primary products.",
    "output": "[Cause] adoption of electric vehicles, autonomous vehicles, and ride-sharing [Relation] enable [Effect] reduce demand for HollyFrontier's primary products",
    "gold": "[Cause] adoption of electric vehicles, autonomous vehicles, and ride-sharing [Relation] enable [Effect] reduce demand for HollyFrontier's primary products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Most importantly, scale will be lost from ships that have been sold and scrapped, or remain in layup, as we anticipate Carnival will execute a staggered return to the sailing of its fleet across its brand portfolio in the back half of 2021.",
    "output": "[Cause] Carnival will execute a staggered return to the sailing of its fleet across its brand portfolio in the back half of 2021 [Relation] cause [Effect] scale will be lost from ships that have been sold and scrapped, or remain in layup",
    "gold": "[Cause]  Carnival will execute a staggered return to the sailing of its fleet across its brand portfolio in the back half of 2021 [Relation] cause [Effect]  scale will be lost from ships that have been sold and scrapped, or remain in layup",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since pass-through shipping and handling can exceed sterilization costs, a lower-priced provider could still be more expensive if they are located farther away.",
    "output": "[Cause] pass-through shipping and handling can exceed sterilization costs [Relation] cause [Effect] a lower-priced provider could still be more expensive if they are located farther away",
    "gold": "[Cause]  pass-through shipping and handling can exceed sterilization costs [Relation] cause [Effect] a lower-priced provider could still be more expensive if they are located farther away",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the company is likely to acquire imported cement if demand is strong enough, we assume this would probably be sold at or near cost.",
    "output": "[Cause] demand is strong enough [Relation] cause [Effect] the company is likely to acquire imported cement",
    "gold": "[Cause] the company is likely to acquire imported cement [Relation] cause [Effect] probably be sold at or near cost",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The COVID-19 outbreak has left consumers scouring the shelves for Clorox's fare, leading to a pronounced bump in near-term sales.",
    "output": "[Cause] The COVID-19 outbreak [Relation] cause [Effect] left consumers scouring the shelves for Clorox's fare",
    "gold": "[Cause] The COVID-19 outbreak [Relation] enable [Effect] left consumers scouring the shelves for Clorox's fare",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The COVID-19 outbreak has left consumers scouring the shelves for Clorox's fare, leading to a pronounced bump in near-term sales.",
    "output": "[Cause] The COVID-19 outbreak [Relation] cause [Effect] consumers scouring the shelves for Clorox's fare",
    "gold": "[Cause] left consumers scouring the shelves for Clorox's fare [Relation] cause [Effect] a pronounced bump in near-term sales",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We do believe however, that these investments are necessary to offset the lower demand from new technologies such as additive manufacturing and electric vehicles which require fewer cutting tools.",
    "output": "[Cause] offset the lower demand from new technologies such as additive manufacturing and electric vehicles which require fewer cutting tools [Relation] cause [Effect] these investments are necessary",
    "gold": "[Cause] offset the lower demand from new technologies such as additive manufacturing and electric vehicles which require fewer cutting tools [Relation] cause [Effect]  these investments are necessary",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These segments now only make up about 17% of its revenue, and we expect these historically low-growth businesses to continue to fade as management deploys capital to new growth initiatives in more attractive human health-related end markets.",
    "output": "[Cause] management deploys capital to new growth initiatives in more attractive human health-related end markets [Relation] cause [Effect] these historically low-growth businesses to continue to fade",
    "gold": "[Cause]  management deploys capital to new growth initiatives in more attractive human health-related end markets [Relation] cause [Effect]  these historically low-growth businesses to continue to fade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also think that many of IBM's customers are slow to change IT consultants and providers because they fear rocking the boat with the mission critical functions served on IBM IT.",
    "output": "[Cause] they fear rocking the boat with the mission critical functions served on IBM IT [Relation] cause [Effect] many of IBM's customers are slow to change IT consultants and providers",
    "gold": "[Cause]  they fear rocking the boat with the mission critical functions served on IBM IT [Relation] enable [Effect] many of IBM's customers are slow to change IT consultants and providers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While intermodal demand bounced off pandemic lows, Hunt's container volume was constrained by rail network congestion and revenue fell 1.5%.",
    "output": "[Cause] rail network congestion [Relation] prevent [Effect] Hunt's container volume",
    "gold": "[Cause] rail network congestion [Relation] prevent [Effect] Hunt's container volume",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Legacy networks also face more costs to accommodate the explosion in volume that is accompanying Internet use (transit bit volume has been growing 25% annually for the last 25 years), and given the deflationary pricing environment for Internet transit, competitors have been leaving, rather than entering the transit business.",
    "output": "[Cause] the deflationary pricing environment for Internet transit [Relation] cause [Effect] competitors have been leaving, rather than entering the transit business",
    "gold": "[Cause]  the deflationary pricing environment for Internet transit, competitors have been leaving, rather than entering the transit business [Relation] cause [Effect] Legacy networks also face more costs to accommodate the explosion in volume that is accompanying Internet use (transit bit volume has been growing 25% annually for the last 25 years)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After weak trading volumes in 2019, we believe higher volatility will provide some tailwind to trading revenue over the next five years.",
    "output": "[Cause] higher volatility [Relation] enable [Effect] provide some tailwind to trading revenue over the next five years",
    "gold": "[Cause]  higher volatility [Relation] enable [Effect]  provide some tailwind to trading revenue over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We model 84% growth in 2021 as China capacity comes online, new European capacity ramps, and food-service recovers from the pandemic.",
    "output": "[Cause] China capacity comes online [Relation] cause [Effect] 84% growth in 2021",
    "gold": "[Cause]  China capacity comes online [Relation] enable [Effect] 84% growth in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We model 84% growth in 2021 as China capacity comes online, new European capacity ramps, and food-service recovers from the pandemic.",
    "output": "[Cause] China capacity comes online [Relation] cause [Effect] 84% growth in 2021",
    "gold": "[Cause] new European capacity ramps [Relation] enable [Effect] 84% growth in 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We model 84% growth in 2021 as China capacity comes online, new European capacity ramps, and food-service recovers from the pandemic.",
    "output": "[Cause] China capacity comes online [Relation] cause [Effect] 84% growth in 2021",
    "gold": "[Cause] food-service recovers from the pandemic [Relation] enable [Effect] 84% growth in 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While optical fiber was initially used in niche applications (after Corning invented it in 1970) due to costing more than copper, bandwidth needs of the 21st century and reductions in cost are making it the new standard in broadband access.",
    "output": "[Cause] costing more than copper [Relation] cause [Effect] optical fiber was initially used in niche applications",
    "gold": "[Cause] costing more than copper [Relation] cause [Effect] optical fiber was initially used in niche applications",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Gazyva, now approved in CLL and NHL and in testing in lupus, will also extend the longevity of the Rituxan franchise.",
    "output": "[Cause] Gazyva, now approved in CLL and NHL and in testing in lupus [Relation] enable [Effect] extend the longevity of the Rituxan franchise",
    "gold": "[Cause] Gazyva, now approved in CLL and NHL and in testing in lupus [Relation] enable [Effect] extend the longevity of the Rituxan franchise",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These strategic moves have placed its restaurant assets in the hands of some of the system's best operators, facilitated accelerated restaurant remodeling activities, and allowed management to focus on brand awareness, menu innovation, digital engagement, and more effective marketing practices.",
    "output": "[Cause] These strategic moves [Relation] enable [Effect] placed its restaurant assets in the hands of some of the system's best operators, facilitated accelerated restaurant remodeling activities, and allowed management to focus on brand awareness, menu innovation, digital engagement, and more effective marketing practices",
    "gold": "[Cause] These strategic moves [Relation] enable [Effect] placed its restaurant assets in the hands of some of the system's best operators, facilitated accelerated restaurant remodeling activities, and allowed management to focus on brand awareness, menu innovation, digital engagement, and more effective marketing practices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "According to Bain &amp; Company and Morningstar estimates, Michael Kors' share of the luxury leather goods market increased to 6% in 2016 from 2% in 2010. This growth was largely at the expense of Coach, which suffered a 5-point share decline over the same period (to 8% from 13%).",
    "output": "[Cause] the expense of Coach, which suffered a 5-point share decline over the same period (to 8% from 13%) [Relation] cause [Effect] Michael Kors' share of the luxury leather goods market increased to 6% in 2016 from 2% in 2010",
    "gold": "[Cause] the expense of Coach, which suffered a 5-point share decline over the same period (to 8% from 13%) [Relation] cause [Effect] Michael Kors' share of the luxury leather goods market increased to 6% in 2016 from 2% in 2010",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe it will be challenging to obtain management's five-year guidance of 20%-30% compound average annual revenue growth in light of the fierce competition, potential decline of overall (elective) volumes in the weaker environment, and friction to convert the remaining orthodontics from traditional wire and bracket.",
    "output": "[Cause] the fierce competition [Relation] cause [Effect] it will be challenging to obtain management's five-year guidance of 20%-30% compound average annual revenue growth",
    "gold": "[Cause] the fierce competition [Relation] cause [Effect] potential decline of overall (elective) volumes in the weaker environment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we think Dexcom could cede market share to Abbott and Medtronic, as their products improve on accuracy and offer additional features that Dexcom does not.",
    "output": "[Cause] their products improve on accuracy and offer additional features that Dexcom does not [Relation] cause [Effect] Dexcom could cede market share to Abbott and Medtronic",
    "gold": "[Cause] their products improve on accuracy and offer additional features that Dexcom does not [Relation] cause [Effect] Dexcom could cede market share to Abbott and Medtronic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This is critical, as each of these segments drives higher margins than the corporate average, which in turn should allow both operating profit and EPS to outgrow revenue as margins continue to expand.",
    "output": "[Cause] each of these segments drives higher margins than the corporate average [Relation] enable [Effect] both operating profit and EPS to outgrow revenue as margins continue to expand",
    "gold": "[Cause] This is critical, as each of these segments drives higher margins than the corporate average | as margins continue to expand [Relation] cause [Effect] which in turn should allow both operating profit and EPS to outgrow revenue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Astra's patent-protected drugs carry strong pricing power, which enables the firm to generate returns on invested capital in excess of its cost of capital.",
    "output": "[Cause] Astra's patent-protected drugs carry strong pricing power [Relation] enable [Effect] the firm to generate returns on invested capital in excess of its cost of capital",
    "gold": "[Cause] Astra's patent-protected drugs carry strong pricing power [Relation] enable [Effect]  the firm to generate returns on invested capital in excess of its cost of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Operating margins should rise as Advance cuts costs and after near-term conditions normalize, rebounding from 8% in 2018-20 and approaching 12% long term.",
    "output": "[Cause] Advance cuts costs and after near-term conditions normalize [Relation] cause [Effect] Operating margins should rise",
    "gold": "[Cause] Advance cuts costs and after near-term conditions normalize [Relation] enable [Effect] Operating margins should rise",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think consumers would be unlikely to switch if a new competitor entered the market, given the long history of consistent service.",
    "output": "[Cause] the long history of consistent service [Relation] cause [Effect] consumers would be unlikely to switch if a new competitor entered the market",
    "gold": "[Cause]  the long history of consistent service [Relation] cause [Effect]  consumers would be unlikely to switch if a new competitor entered the market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since occupancy gains increase variable costs while average daily rate increases go straight to the bottom line, we would normally expect to see significant EBITDA margin gains at this point in the cycle.",
    "output": "[Cause] occupancy gains increase variable costs while average daily rate increases go straight to the bottom line [Relation] cause [Effect] we would normally expect to see significant EBITDA margin gains at this point in the cycle",
    "gold": "[Cause]  occupancy gains increase variable costs while average daily rate increases go straight to the bottom line [Relation] cause [Effect] we would normally expect to see significant EBITDA margin gains at this point in the cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sabre monthly cash burn at near zero revenue is around $80 million, providing it with enough liquidity to continue many investments at near-zero revenue through 2021.",
    "output": "[Cause] Sabre monthly cash burn at near zero revenue is around $80 million [Relation] enable [Effect] providing it with enough liquidity to continue many investments at near-zero revenue through 2021",
    "gold": "[Cause] Sabre monthly cash burn at near zero revenue is around $80 million [Relation] enable [Effect] providing it with enough liquidity to continue many investments at near-zero revenue through 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate China to be a key growth region for Coach as, according to Bain & Company, Chinese consumers will compose 46% of the worldwide luxury goods spending in 2025, up from 35% in 2019.",
    "output": "[Cause] Chinese consumers will compose 46% of the worldwide luxury goods spending in 2025, up from 35% in 2019 [Relation] cause [Effect] China to be a key growth region for Coach",
    "gold": "[Cause] Chinese consumers will compose 46% of the worldwide luxury goods spending in 2025, up from 35% in 2019 [Relation] cause [Effect] China to be a key growth region for Coach",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Though the firm is prone to bouts of fluctuating profitability due to the cyclicality of equipment spending, we believe its strong position in the PDC space will allow it to maintain an average gross margin profile near 60%.",
    "output": "[Cause] the cyclicality of equipment spending [Relation] cause [Effect] the firm is prone to bouts of fluctuating profitability",
    "gold": "[Cause]  the cyclicality of equipment spending [Relation] cause [Effect]  the firm is prone to bouts of fluctuating profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Though the firm is prone to bouts of fluctuating profitability due to the cyclicality of equipment spending, we believe its strong position in the PDC space will allow it to maintain an average gross margin profile near 60%.",
    "output": "[Cause] its strong position in the PDC space [Relation] enable [Effect] maintain an average gross margin profile near 60%",
    "gold": "[Cause]  its strong position in the PDC space [Relation] enable [Effect]  it to maintain an average gross margin profile",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Due to the pandemic, all three of Tapestry's brands suffered sales and operating profit declines in fiscal 2020, but we expect results to improve in fiscal 2021 as it implements its three-year Acceleration Program strategy to cut costs and improve margins.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] all three of Tapestry's brands suffered sales and operating profit declines in fiscal 2020",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] all three of Tapestry's brands suffered sales and operating profit declines in fiscal 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to the pandemic, all three of Tapestry's brands suffered sales and operating profit declines in fiscal 2020, but we expect results to improve in fiscal 2021 as it implements its three-year Acceleration Program strategy to cut costs and improve margins.",
    "output": "[Cause] it implements its three-year Acceleration Program strategy to cut costs and improve margins [Relation] cause [Effect] results to improve in fiscal 2021",
    "gold": "[Cause] it implements its three-year Acceleration Program strategy to cut costs and improve margins [Relation] enable [Effect] results to improve in fiscal 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customers perceive these brands as vital because of the firm's ability to meet customer demand, whether by creating value-additive products through innovative, proprietary technology, or by meeting safety and reliability standards in highly regulated industries.",
    "output": "[Cause] the firm's ability to meet customer demand [Relation] cause [Effect] Customers perceive these brands as vital",
    "gold": "[Cause] creating value-additive products through innovative, proprietary technology | meeting safety and reliability standards in highly regulated industries [Relation] cause [Effect] the firm's ability to meet customer demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Customers perceive these brands as vital because of the firm's ability to meet customer demand, whether by creating value-additive products through innovative, proprietary technology, or by meeting safety and reliability standards in highly regulated industries.",
    "output": "[Cause] creating value-additive products through innovative, proprietary technology, or by meeting safety and reliability standards in highly regulated industries [Relation] cause [Effect] Customers perceive these brands as vital",
    "gold": "[Cause] the firm's ability to meet customer demand [Relation] cause [Effect] Customers perceive these brands as vital",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Sinopec has also benefited from the country moving to a more market-oriented pricing mechanism that better matches petrol product pricing to input costs.",
    "output": "[Cause] the country moving to a more market-oriented pricing mechanism [Relation] enable [Effect] better matches petrol product pricing to input costs",
    "gold": "[Cause] the country moving to a more market-oriented pricing mechanism [Relation] cause [Effect] better matches petrol product pricing to input costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect these efforts to drive 200 to 300 basis points of operating margin improvement over the next decade, resulting in 21% margins for the domestic business and 24% for the international division.",
    "output": "[Cause] these efforts to drive 200 to 300 basis points of operating margin improvement over the next decade [Relation] cause [Effect] 21% margins for the domestic business and 24% for the international division",
    "gold": "[Cause] these efforts to drive 200 to 300 basis points of operating margin improvement over the next decade [Relation] cause [Effect] 21% margins for the domestic business and 24% for the international division",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Wayfair's inventory-light model benefits inventory turns but can risk control of the brand at times. This strategy has freed up capital to spend on customer acquisition and retention, leading to 31 million active users in December 2020 who spend around $450 per year (versus 1.3 million users who spent $300 in 2012).",
    "output": "[Cause] Wayfair's inventory-light model benefits inventory turns but can risk control of the brand at times [Relation] enable [Effect] freed up capital to spend on customer acquisition and retention, leading to 31 million active users in December 2020 who spend around $450 per year (versus 1.3 million users who spent $300 in 2012)",
    "gold": "[Cause] Wayfair's inventory-light model benefits inventory turns but can risk control of the brand at times [Relation] cause [Effect]  freed up capital to spend on customer acquisition and retention, leading to 31 million active users in December 2020 who spend around $450 per year (versus 1.3 million users who spent $300 in 2012)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Limited exposure to the retail market (26% of AUM) and broader geographic exposure also leave the firm better positioned than some of its peers.",
    "output": "[Cause] Limited exposure to the retail market (26% of AUM) and broader geographic exposure [Relation] enable [Effect] the firm better positioned than some of its peers",
    "gold": "[Cause] Limited exposure to the retail market (26% of AUM) and broader geographic exposure [Relation] cause [Effect] the firm better positioned than some of its peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The amalgamation of various technology brands into an end-to-end product portfolio for the IT environment provides Dell Technologies with substantial cross-selling and upselling opportunities as it broadens its product portfolio to encompass the overarching market shift to hybrid cloud environments.",
    "output": "[Cause] it broadens its product portfolio to encompass the overarching market shift to hybrid cloud environments [Relation] enable [Effect] Dell Technologies with substantial cross-selling and upselling opportunities",
    "gold": "[Cause] it broadens its product portfolio to encompass the overarching market shift to hybrid cloud environments [Relation] cause [Effect] Dell Technologies with substantial cross-selling and upselling opportunities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We often see this fear of over-dependence (which would later result in a monopsonistic power dynamic) leading to firms diversifying their IT services work across various firms.",
    "output": "[Cause] this fear of over-dependence [Relation] cause [Effect] firms diversifying their IT services work across various firms",
    "gold": "[Cause]  this fear of over-dependence [Relation] cause [Effect] firms diversifying their IT services work across various firms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect operating margins to rebound to 16% in 2021-beyond with demand growing faster than supply and production costs coming down.",
    "output": "[Cause] demand growing faster than supply and production costs coming down [Relation] cause [Effect] operating margins to rebound to 16% in 2021-beyond",
    "gold": "[Cause]  demand growing faster than supply and production costs coming down [Relation] cause [Effect]  operating margins to rebound to 16% in 2021-beyond",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "BP expects the culmination of these investments, cost reductions, and commodity price improvements will result in underlying EBIDA growth of a 5%-6% CAGR resulting in EBIDA of about $33 billion-34.5 billion in 2025.",
    "output": "[Cause] the culmination of these investments, cost reductions, and commodity price improvements [Relation] cause [Effect] underlying EBIDA growth of a 5%-6% CAGR",
    "gold": "[Cause] the culmination of these investments, cost reductions, and commodity price improvements [Relation] cause [Effect] underlying EBIDA growth of a 5%-6% CAGR",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "BP expects the culmination of these investments, cost reductions, and commodity price improvements will result in underlying EBIDA growth of a 5%-6% CAGR resulting in EBIDA of about $33 billion-34.5 billion in 2025.",
    "output": "[Cause] underlying EBIDA growth of a 5%-6% CAGR [Relation] cause [Effect] EBIDA of about $33 billion-34.5 billion in 2025",
    "gold": "[Cause] underlying EBIDA growth of a 5%-6% CAGR [Relation] cause [Effect] EBIDA of about $33 billion-34.5 billion in 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that as Okta builds more products that utilize integrations with vendors and its vendors continuously update their applications, more vendors and customers are attracted to this network that automates the workflows required for user access and authentication.",
    "output": "[Cause] Okta builds more products that utilize integrations with vendors and its vendors continuously update their applications [Relation] cause [Effect] more vendors and customers are attracted to this network that automates the workflows required for user access and authentication",
    "gold": "[Cause] Okta builds more products that utilize integrations with vendors [Relation] enable [Effect] vendors continuously update their applications",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Barriers to entry are also absent in this large, fragmented market, where store openings are not significantly controlled by local authorities, and store formats are easily replicable by peers.",
    "output": "[Cause] store openings are not significantly controlled by local authorities [Relation] cause [Effect] store formats are easily replicable by peers",
    "gold": "[Cause] store openings are not significantly controlled by local authorities [Relation] cause [Effect] store formats are easily replicable by peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also see the SMB and mid-market as being underserved by enterprise software providers, as the smaller deal sizes make it harder to serve efficiently.",
    "output": "[Cause] the smaller deal sizes make it harder to serve efficiently [Relation] cause [Effect] the SMB and mid-market as being underserved by enterprise software providers",
    "gold": "[Cause] the smaller deal sizes make it harder to serve efficiently [Relation] cause [Effect] the SMB and mid-market as being underserved by enterprise software providers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Community opposition can challenge BHP's social licence to operate and future developments, although we think increased industry attention and regulation will likely support improved relations.",
    "output": "[Cause] increased industry attention and regulation [Relation] enable [Effect] improved relations",
    "gold": "[Cause]  increased industry attention and regulation [Relation] enable [Effect]  improved relations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This contractual dynamic results in suppliers' focus on lean manufacturing practices like Six Sigma, kaizen, and kanban, just to partially offset potential margin erosion.",
    "output": "[Cause] suppliers' focus on lean manufacturing practices like Six Sigma, kaizen, and kanban [Relation] prevent [Effect] potential margin erosion",
    "gold": "[Cause] This contractual dynamic [Relation] enable [Effect] suppliers' focus on lean manufacturing practices like Six Sigma, kaizen, and kanban, just to partially offset potential margin erosion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, as the company increasingly handles more employee data on cloud systems, it is exposed to risks related to data privacy and protecting these data from security breaches or technology disruption.",
    "output": "[Cause] the company increasingly handles more employee data on cloud systems [Relation] cause [Effect] exposed to risks related to data privacy and protecting these data from security breaches or technology disruption",
    "gold": "[Cause]  the company increasingly handles more employee data on cloud systems [Relation] cause [Effect] exposed to risks related to data privacy and protecting these data from security breaches or technology disruption",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "TIM's strong balance sheet may allow it to fix its structural weakness through acquisitions, but with Oi in restructuring, it is unclear how the market will evolve.",
    "output": "[Cause] TIM's strong balance sheet [Relation] enable [Effect] fix its structural weakness through acquisitions",
    "gold": "[Cause] TIM's strong balance sheet [Relation] cause [Effect] fix its structural weakness through acquisitions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "TIM's strong balance sheet may allow it to fix its structural weakness through acquisitions, but with Oi in restructuring, it is unclear how the market will evolve.",
    "output": "[Cause] Oi in restructuring [Relation] cause [Effect] it is unclear how the market will evolve",
    "gold": "[Cause] Oi in restructuring [Relation] cause [Effect] it is unclear how the market will evolve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "NetApp also has colocation partners, including a strategic Equinix relationship, that provide enterprises with NetApp private storage and the ability to use hyperscale cloud resources within the same data center. This allows enterprises to retain data outside of the public clouds for security, regulatory, or latency purposes while being able to consume hyperscale providers' computing offerings.",
    "output": "[Cause] NetApp also has colocation partners, including a strategic Equinix relationship, that provide enterprises with NetApp private storage and the ability to use hyperscale cloud resources within the same data center [Relation] enable [Effect] enterprises to retain data outside of the public clouds for security, regulatory, or latency purposes while being able to consume hyperscale providers' computing offerings",
    "gold": "[Cause] NetApp also has colocation partners, including a strategic Equinix relationship, that provide enterprises with NetApp private storage and the ability to use hyperscale cloud resources within the same data center [Relation] enable [Effect] enterprises to retain data outside of the public clouds for security, regulatory, or latency purposes while being able to consume hyperscale providers' computing offerings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "MPS has upheld the business through drastic equipment declines, but it's an offering that we believe to be ultimately cannibalistic to equipment and supplies sales.",
    "output": "[Cause] drastic equipment declines [Relation] cause [Effect] MPS has upheld the business",
    "gold": "[Cause] drastic equipment declines [Relation] enable [Effect] MPS has upheld the business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the decades since inception, Polaris and BRP (Bombardier) have delivered more compelling and technologically advanced products than their peers. This has allowed Polaris and Can-Am to take stronger market share positions in recent years than peers, including close competitor Arctic Cat.",
    "output": "[Cause] Polaris and BRP (Bombardier) have delivered more compelling and technologically advanced products than their peers [Relation] enable [Effect] Polaris and Can-Am to take stronger market share positions in recent years than peers, including close competitor Arctic Cat",
    "gold": "[Cause] Polaris and BRP (Bombardier) have delivered more compelling and technologically advanced products than their peers [Relation] enable [Effect] Polaris and Can-Am to take stronger market share positions in recent years than peers, including close competitor Arctic Cat",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that the company will prioritize debt paydown over the next few years, we don't model any acquisitions until 2025, when we start to model modest tuck-in acquisitions, in line with PPD's peers.",
    "output": "[Cause] the company will prioritize debt paydown over the next few years [Relation] cause [Effect] we don't model any acquisitions until 2025, when we start to model modest tuck-in acquisitions, in line with PPD's peers",
    "gold": "[Cause] the company will prioritize debt paydown over the next few years [Relation] cause [Effect] we don't model any acquisitions until 2025, when we start to model modest tuck-in acquisitions, in line with PPD's peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Free People lacks broad appeal, and we do not expect it will grow to be as large as Urban Outfitters' other two key brands.",
    "output": "[Cause] Free People lacks broad appeal [Relation] prevent [Effect] it will grow to be as large as Urban Outfitters' other two key brands",
    "gold": "[Cause] Free People lacks broad appeal [Relation] prevent [Effect] it will grow to be as large as Urban Outfitters' other two key brands",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the CRO industry to grow in the midsingle digits due to low-single-digit growth in biopharma research and development spending, as well as modest increases in outsourcing penetration.",
    "output": "[Cause] low-single-digit growth in biopharma research and development spending, as well as modest increases in outsourcing penetration [Relation] cause [Effect] the CRO industry to grow in the midsingle digits",
    "gold": "[Cause] low-single-digit growth in biopharma research and development spending, as well as modest increases in outsourcing penetration [Relation] cause [Effect] the CRO industry to grow in the midsingle digits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The dividend was adjusted to $1.84 per share annualized in the 2018 third quarter, resulting in a 15% increase for Westar shareholders and keeping Great Plains shareholders whole.",
    "output": "[Cause] The dividend was adjusted to $1.84 per share annualized in the 2018 third quarter [Relation] cause [Effect] a 15% increase for Westar shareholders and keeping Great Plains shareholders whole",
    "gold": "[Cause] The dividend was adjusted to $1.84 per share annualized in the 2018 third quarter [Relation] cause [Effect] a 15% increase for Westar shareholders and keeping Great Plains shareholders whole",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Carbon fiber is inherent to many aerostructures, such as wings and fuselages, so product failure due to carbon fiber failure would be catastrophic to the manufacturer's reputation, so we think the mission criticality of carbon failure to the end-product is a strong disincentive to switch.",
    "output": "[Cause] carbon fiber failure [Relation] cause [Effect] product failure",
    "gold": "[Cause] carbon fiber failure [Relation] cause [Effect]  product failure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Carbon fiber is inherent to many aerostructures, such as wings and fuselages, so product failure due to carbon fiber failure would be catastrophic to the manufacturer's reputation, so we think the mission criticality of carbon failure to the end-product is a strong disincentive to switch.",
    "output": "[Cause] carbon fiber failure [Relation] cause [Effect] product failure",
    "gold": "[Cause] so product failure due to carbon fiber failure would be catastrophic to the manufacturer's reputation [Relation] cause [Effect] the mission criticality of carbon failure to the end-product is a strong disincentive to switch",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our average forecast tax rate is 14.9% due to the company earning deferred tax assets from operating losses during the pandemic.",
    "output": "[Cause] the company earning deferred tax assets from operating losses during the pandemic [Relation] cause [Effect] Our average forecast tax rate is 14.9%",
    "gold": "[Cause] the company earning deferred tax assets from operating losses during the pandemic [Relation] cause [Effect] Our average forecast tax rate is 14.9%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our average forecast tax rate is 14.9% due to the company earning deferred tax assets from operating losses during the pandemic.",
    "output": "[Cause] the company earning deferred tax assets from operating losses during the pandemic [Relation] cause [Effect] Our average forecast tax rate is 14.9%",
    "gold": "[Cause] operating losses during the pandemic [Relation] cause [Effect] company earning deferred tax assets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Movil's position in the fixed-line business is the result of its acquisition of Net Servicos, the largest cable company in the country.",
    "output": "[Cause] its acquisition of Net Servicos [Relation] cause [Effect] Movil's position in the fixed-line business",
    "gold": "[Cause] its acquisition of Net Servicos [Relation] cause [Effect] Movil's position in the fixed-line business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fiscal 2020 theme park admissions revenue fell over 45% and we expect that fiscal 2021 revenue will remain well below fiscal 2019 and below fiscal 2020 due to the much weaker first quarter versus 2020.",
    "output": "[Cause] the much weaker first quarter versus 2020 [Relation] cause [Effect] fiscal 2021 revenue will remain well below fiscal 2019 and below fiscal 2020",
    "gold": "[Cause] the much weaker first quarter versus 2020 [Relation] cause [Effect] fiscal 2021 revenue will remain well below fiscal 2019 and below fiscal 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In fact, during a downturn in new vehicle sales, dealers generally report higher gross margins due to a favorable mix shift, but then report lower operating margins due to SG&A deleveraging.",
    "output": "[Cause] a favorable mix shift [Relation] cause [Effect] dealers generally report higher gross margins",
    "gold": "[Cause]  a favorable mix shift [Relation] cause [Effect]  dealers generally report higher gross margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In fact, during a downturn in new vehicle sales, dealers generally report higher gross margins due to a favorable mix shift, but then report lower operating margins due to SG&A deleveraging.",
    "output": "[Cause] SG&A deleveraging [Relation] cause [Effect] report lower operating margins",
    "gold": "[Cause] SG&A deleveraging [Relation] cause [Effect]  report lower operating margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ST has exposure to leading smartphone vendors like Apple and Samsung and continually needs to innovate in order to retain this business, as these smartphones are redesigned every year or two.",
    "output": "[Cause] these smartphones are redesigned every year or two [Relation] cause [Effect] ST has exposure to leading smartphone vendors like Apple and Samsung and continually needs to innovate in order to retain this business",
    "gold": "[Cause]  these smartphones are redesigned every year or two [Relation] cause [Effect] ST has exposure to leading smartphone vendors like Apple and Samsung and continually needs to innovate in order to retain this business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, Cisco embracing software from hardware disaggregation, and even selling networking chips, can help keep demand for its solutions high although some customers rely on cloud-based resources or generic hardware.",
    "output": "[Cause] Cisco embracing software from hardware disaggregation, and even selling networking chips [Relation] enable [Effect] keep demand for its solutions high",
    "gold": "[Cause] Cisco embracing software from hardware disaggregation, and even selling networking chips [Relation] enable [Effect] keep demand for its solutions high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Globalization of businesses in various verticals has increased demand not only for vertical-specific advertising expertise, but also for experience and clearer understanding of different cultures and regulations within the geographic regions in which businesses want to market and sell their products. For this reason, Omnicom and the other largest ad holding companies have consistently acquired smaller local ad agencies and quickly gained traction in other international markets.",
    "output": "[Cause] Globalization of businesses in various verticals has increased demand not only for vertical-specific advertising expertise, but also for experience and clearer understanding of different cultures and regulations within the geographic regions in which businesses want to market and sell their products [Relation] cause [Effect] Omnicom and the other largest ad holding companies have consistently acquired smaller local ad agencies and quickly gained traction in other international markets",
    "gold": "[Cause] Globalization of businesses in various verticals has increased demand not only for vertical-specific advertising expertise, but also for experience and clearer understanding of different cultures and regulations within the geographic regions in which businesses want to market and sell their products [Relation] cause [Effect] Omnicom and the other largest ad holding companies have consistently acquired smaller local ad agencies and quickly gained traction in other international markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Still, margin expansion should be partially stymied by weak volumes on certain legacy production lines as well as structural input cost inflation as the firm leans more into value-added innovation (which will likely require unique ingredient formulations).",
    "output": "[Cause] weak volumes on certain legacy production lines [Relation] prevent [Effect] margin expansion",
    "gold": "[Cause] weak volumes on certain legacy production lines [Relation] prevent [Effect] margin expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Still, margin expansion should be partially stymied by weak volumes on certain legacy production lines as well as structural input cost inflation as the firm leans more into value-added innovation (which will likely require unique ingredient formulations).",
    "output": "[Cause] the firm leans more into value-added innovation [Relation] cause [Effect] structural input cost inflation",
    "gold": "[Cause] structural input cost inflation [Relation] prevent [Effect] margin expansion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Notably, with the recent volatility in shipping prices, and lower demand from China due to trade tensions, Cheniere remains well positioned, as European demand has increased.",
    "output": "[Cause] European demand has increased [Relation] cause [Effect] Cheniere remains well positioned",
    "gold": "[Cause] European demand has increased [Relation] cause [Effect] Cheniere remains well positioned",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We give PRA Health a medium uncertainty rating due to its material dependence on the research and development spending of its customer base: biotech and pharmaceutical companies.",
    "output": "[Cause] its material dependence on the research and development spending of its customer base: biotech and pharmaceutical companies [Relation] cause [Effect] We give PRA Health a medium uncertainty rating",
    "gold": "[Cause]  its material dependence on the research and development spending of its customer base: biotech and pharmaceutical companies [Relation] cause [Effect] We give PRA Health a medium uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The loss of so much business from the big Internet customers forced Akamai to look elsewhere for growth and rely less on the media business, which went from providing 58% of total revenue in 2014 to about 47% the past four years.",
    "output": "[Cause] The loss of so much business from the big Internet customers [Relation] cause [Effect] Akamai to look elsewhere for growth and rely less on the media business",
    "gold": "[Cause] [Relation] cause [Effect] The loss of so much business from the big Internet customers forced Akamai to look elsewhere for growth and rely less on the media business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm's asset-light model provides the flexibility to match expenses with demand throughout the business cycle, but it also subjects Expeditors to variations in available carrier capacity.",
    "output": "[Cause] The firm's asset-light model [Relation] enable [Effect] the flexibility to match expenses with demand throughout the business cycle",
    "gold": "[Cause] The firm's asset-light model [Relation] prevent [Effect] Expeditors to variations in available carrier capacity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Hardie's strategy to maintain a quality differential over peer offerings reinforces the brand name that it has built over the course of decades, and its higher-quality product has consistently gained market share over time.",
    "output": "[Cause] Hardie's strategy to maintain a quality differential over peer offerings [Relation] enable [Effect] reinforces the brand name that it has built over the course of decades, and its higher-quality product has consistently gained market share over time",
    "gold": "[Cause] Hardie's strategy to maintain a quality differential over peer offerings [Relation] cause [Effect] reinforces the brand name that it has built over the course of decades, and its higher-quality product has consistently gained market share over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Kraft Heinz's intent focus on extracting costs at the expense of brand spending has resulted in the degradation of its brand intangible asset, eroding its brands and retail relationships.",
    "output": "[Cause] Kraft Heinz's intent focus on extracting costs at the expense of brand spending [Relation] cause [Effect] the degradation of its brand intangible asset, eroding its brands and retail relationships",
    "gold": "[Cause] Kraft Heinz's intent focus on extracting costs at the expense of brand spending [Relation] cause [Effect] the degradation of its brand intangible asset, eroding its brands and retail relationships",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we think the demand as consumers stock up on essential fare due to COVID-19 has accelerated the results of these efforts.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] the demand as consumers stock up on essential fare",
    "gold": "[Cause]  COVID-19 [Relation] cause [Effect] the demand as consumers stock up on essential fare",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With customers' switching costs negligible and profitability thin, Sprouts' margin for error is limited, particularly as traditional grocers incorporate more fresh, specialty, and natural foods into their assortments.",
    "output": "[Cause] customers' switching costs negligible and profitability thin [Relation] cause [Effect] Sprouts' margin for error is limited",
    "gold": "[Cause] customers' switching costs negligible and profitability thin [Relation] cause [Effect] Sprouts' margin for error is limited",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, Airbnb's core alternative accommodations business faces higher regulatory risk than other travel verticals, which could hinder supply and demand as well as elevate costs. As such, we lack confidence that Airbnb will, with certainty, outearn its cost of capital for the next two decades.",
    "output": "[Cause] Airbnb's core alternative accommodations business faces higher regulatory risk than other travel verticals, which could hinder supply and demand as well as elevate costs [Relation] cause [Effect] we lack confidence that Airbnb will, with certainty, outearn its cost of capital for the next two decades",
    "gold": "[Cause] Airbnb's core alternative accommodations business faces higher regulatory risk than other travel verticals, which could hinder supply and demand as well as elevate costs [Relation] cause [Effect] we lack confidence that Airbnb will, with certainty, outearn its cost of capital for the next two decades",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see continued strength in releasing spreads over the short term, but estimate that new supply will challenge Duke Realty's ability to increase rent over the medium term.",
    "output": "[Cause] new supply [Relation] cause [Effect] challenge Duke Realty's ability to increase rent over the medium term",
    "gold": "[Cause] continued strength in releasing spreads over the short term [Relation] prevent [Effect] estimate that new supply will challenge Duke Realty's ability to increase rent over the medium term.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, the integration of Albion International should prove beneficial, as Balchem is well positioned to realized potential synergies between existing product lines and Albion's expertise in chelated minerals.",
    "output": "[Cause] Balchem is well positioned to realized potential synergies between existing product lines and Albion's expertise in chelated minerals [Relation] cause [Effect] the integration of Albion International should prove beneficial",
    "gold": "[Cause] Balchem is well positioned to realized potential synergies between existing product lines and Albion's expertise in chelated minerals [Relation] enable [Effect]  the integration of Albion International should prove beneficial",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the main driver for Enterprise will be its NGL segment, as the demand pull from the Gulf Coast and international markets lets Enterprise take advantage of the export opportunities and lucrative differentials via its comprehensive asset base.",
    "output": "[Cause] the demand pull from the Gulf Coast and international markets [Relation] enable [Effect] Enterprise take advantage of the export opportunities and lucrative differentials via its comprehensive asset base",
    "gold": "[Cause] the demand pull from the Gulf Coast and international markets lets Enterprise take advantage of the export opportunities and lucrative differentials via its comprehensive asset base [Relation] enable [Effect] the main driver for Enterprise will be its NGL segment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect the main driver for Enterprise will be its NGL segment, as the demand pull from the Gulf Coast and international markets lets Enterprise take advantage of the export opportunities and lucrative differentials via its comprehensive asset base.",
    "output": "[Cause] the demand pull from the Gulf Coast and international markets [Relation] enable [Effect] Enterprise take advantage of the export opportunities and lucrative differentials via its comprehensive asset base",
    "gold": "[Cause] the demand pull from the Gulf Coast and international markets [Relation] enable [Effect] Enterprise take advantage of the export opportunities and lucrative differentials via its comprehensive asset base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think these solutions are critical to customer operations, as they enable users to optimize inventory throughout the entire supply chain, to manage inventory and fulfill orders, and to manage retail storefront inventory, point of sale (POS), ordering, and omnichannel operations.",
    "output": "[Cause] they enable users to optimize inventory throughout the entire supply chain, to manage inventory and fulfill orders, and to manage retail storefront inventory, point of sale (POS), ordering, and omnichannel operations [Relation] cause [Effect] these solutions are critical to customer operations",
    "gold": "[Cause] they enable users to optimize inventory throughout the entire supply chain, to manage inventory and fulfill orders, and to manage retail storefront inventory, point of sale (POS), ordering, and omnichannel operations [Relation] cause [Effect] these solutions are critical to customer operations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Perhaps the greatest risk is the scarcity of experienced analog talent within the industry, but Microchip's inorganic expansion has enabled the firm to acquire talent and reduce this risk.",
    "output": "[Cause] Microchip's inorganic expansion [Relation] enable [Effect] the firm to acquire talent and reduce this risk",
    "gold": "[Cause] the scarcity of experienced analog talent within the industry [Relation] enable [Effect]  the greatest risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although seasonality, product mix, and excess inventory builds tend to fuel lumpiness in this segment, we do think it will grow in the coming years.",
    "output": "[Cause] seasonality, product mix, and excess inventory builds [Relation] cause [Effect] fuel lumpiness in this segment",
    "gold": "[Cause]  seasonality, product mix, and excess inventory builds [Relation] cause [Effect]  fuel lumpiness in this segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There is inherent product governance risk to credit cards as they typically carry very high interest rates and can trap consumers in a cycle of continuously paying high interest rates as they struggle to reduce the principal.",
    "output": "[Cause] they typically carry very high interest rates [Relation] cause [Effect] There is inherent product governance risk to credit cards",
    "gold": "[Cause] they struggle to reduce the principal [Relation] enable [Effect] they typically carry very high interest rates and can trap consumers in a cycle of continuously paying high interest rates",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "There is inherent product governance risk to credit cards as they typically carry very high interest rates and can trap consumers in a cycle of continuously paying high interest rates as they struggle to reduce the principal.",
    "output": "[Cause] they struggle to reduce the principal [Relation] cause [Effect] trap consumers in a cycle of continuously paying high interest rates",
    "gold": "[Cause] they typically carry very high interest rates and can trap consumers in a cycle of continuously paying high interest rates [Relation] enable [Effect] There is inherent product governance risk to credit cards",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Shop the Look is more of a social feature as it identifies different products within pins that are for sale and users can purchase.",
    "output": "[Cause] it identifies different products within pins that are for sale and users can purchase [Relation] cause [Effect] Shop the Look is more of a social feature",
    "gold": "[Cause] it identifies different products within pins that are for sale and users can purchase [Relation] cause [Effect] Shop the Look is more of a social feature",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, we think Accenture generates industry-leading returns on capital because of its scale, given that there are only so many blueprints and software partners an IT-services company needs to solve enterprise problems.",
    "output": "[Cause] there are only so many blueprints and software partners an IT-services company needs to solve enterprise problems [Relation] cause [Effect] Accenture generates industry-leading returns on capital because of its scale",
    "gold": "[Cause]  its scale [Relation] enable [Effect]  Accenture generates industry-leading returns on capital",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Recent mergers and acquisitions have further consolidated the space, and Global Payments has actively participated in this trend, acquiring its main rival, Heartland, in 2016, a move that meaningfully bulked up the company's size.",
    "output": "[Cause] Global Payments has actively participated in this trend [Relation] cause [Effect] meaningfully bulked up the company's size",
    "gold": "[Cause] Global Payments has actively participated in this trend [Relation] enable [Effect] meaningfully bulked up the company's size",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "T-Mobile's customer base is almost 40% below KPN's total customer base. As a result, KPN is able to spread the substantial fixed costs of its networks over more customers than its competitor.",
    "output": "[Cause] T-Mobile's customer base is almost 40% below KPN's total customer base [Relation] cause [Effect] KPN is able to spread the substantial fixed costs of its networks over more customers than its competitor",
    "gold": "[Cause] T-Mobile's customer base is almost 40% below KPN's total customer base [Relation] cause [Effect] KPN is able to spread the substantial fixed costs of its networks over more customers than its competitor",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, the bank's efficiency ratio is still somewhat behind its moatier peers, which tend to be consistently in the mid-50s, with some now even approaching the low 50s. This is partially due to structural reasons, including that the bank has a low deposit share in many of its top markets.",
    "output": "[Cause] structural reasons, including that the bank has a low deposit share in many of its top markets [Relation] cause [Effect] the bank's efficiency ratio is still somewhat behind its moatier peers, which tend to be consistently in the mid-50s, with some now even approaching the low 50s",
    "gold": "[Cause]  structural reasons, including that the bank has a low deposit share in many of its top markets [Relation] cause [Effect]  the bank's efficiency ratio is still somewhat behind its moatier peers, which tend to be consistently in the mid-50s, with some now even approaching the low 50s",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "First, we do not see a cost advantage in the firm's operations, which constrains the number of avenues through which the business can generate economic rents.",
    "output": "[Cause] we do not see a cost advantage in the firm's operations [Relation] prevent [Effect] the number of avenues through which the business can generate economic rents",
    "gold": "[Cause] we do not see a cost advantage in the firm's operations [Relation] prevent [Effect] the number of avenues through which the business can generate economic rents",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This cross-selling opportunity is supported by Paycom's investments within its platform, which should allow the company to expand its customer base further up-market. This will also support a higher per-employee-per-year (PEPY) price that will allow the firm to generate more value per client.",
    "output": "[Cause] This cross-selling opportunity is supported by Paycom's investments within its platform, which should allow the company to expand its customer base further up-market [Relation] enable [Effect] support a higher per-employee-per-year (PEPY) price that will allow the firm to generate more value per client",
    "gold": "[Cause] This cross-selling opportunity is supported by Paycom's investments within its platform, which should allow the company to expand its customer base further up-market [Relation] enable [Effect] support a higher per-employee-per-year (PEPY) price that will allow the firm to generate more value per client",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sabre's travel network aggregates the content of hundreds of carriers and efficiently integrates that with travel agent back-office operations, which requires significant time and cost to build and operate.",
    "output": "[Cause] Sabre's travel network aggregates the content of hundreds of carriers and efficiently integrates that with travel agent back-office operations [Relation] cause [Effect] requires significant time and cost to build and operate",
    "gold": "[Cause] Sabre's travel network aggregates the content of hundreds of carriers and efficiently integrates that with travel agent back-office operations [Relation] enable [Effect]  requires significant time and cost to build and operate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume midcycle operating margins to be 27% in 2024, as a result of effects of operating leverage from increased sales.",
    "output": "[Cause] effects of operating leverage from increased sales [Relation] cause [Effect] midcycle operating margins to be 27% in 2024",
    "gold": "[Cause] effects of operating leverage from increased sales [Relation] cause [Effect] assume midcycle operating margins to be 27%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Ventilators, for example, are invasive products that need a very careful application as they replace the lung function and a failure could cause death.",
    "output": "[Cause] they replace the lung function and a failure could cause death [Relation] cause [Effect] Ventilators, for example, are invasive products that need a very careful application",
    "gold": "[Cause]  they replace the lung function and a failure could cause death [Relation] cause [Effect] Ventilators, for example, are invasive products that need a very careful application",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect CNOOC's all-in cost to be flat during 2020-24 given the firm's strength in cost control as witnessed in recent years, as well as the depreciation of the Chinese yuan.",
    "output": "[Cause] the firm's strength in cost control as witnessed in recent years, as well as the depreciation of the Chinese yuan [Relation] cause [Effect] We expect CNOOC's all-in cost to be flat during 2020-24",
    "gold": "[Cause]  the firm's strength in cost control as witnessed in recent years, as well as the depreciation of the Chinese yuan [Relation] cause [Effect] We expect CNOOC's all-in cost to be flat during 2020-24",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think increasing vehicle complexity will be a strong tailwind for the repair systems and information business, pushing sales over 5% on average in our forecast.",
    "output": "[Cause] increasing vehicle complexity [Relation] enable [Effect] pushing sales over 5% on average in our forecast",
    "gold": "[Cause]  increasing vehicle complexity [Relation] enable [Effect] pushing sales over 5% on average in our forecast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company also regularly makes capital improvements and redevelops its portfolio to maintain the portfolio's quality and keep it competitive in the market.",
    "output": "[Cause] regularly makes capital improvements and redevelops its portfolio [Relation] enable [Effect] maintain the portfolio's quality and keep it competitive in the market",
    "gold": "[Cause]  regularly makes capital improvements and redevelops its portfolio [Relation] enable [Effect] maintain the portfolio's quality and keep it competitive in the market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume the company acquires around $300 million in properties per year as we think that prices are high and options are both limited and competitive, so acquisitions should revert to normalized levels.",
    "output": "[Cause] We assume the company acquires around $300 million in properties per year as we think that prices are high and options are both limited and competitive [Relation] cause [Effect] acquisitions should revert to normalized levels",
    "gold": "[Cause] We assume the company acquires around $300 million in properties per year as we think that prices are high and options are both limited and competitive [Relation] cause [Effect] acquisitions should revert to normalized levels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that West's larger customers could use their size in pricing negotiations, increased scrutiny of materials and production costs could put downward pressure on West's ability to increase price and lead to lower demand for higher-value, higher-margin services like NovaPure.",
    "output": "[Cause] increased scrutiny of materials and production costs [Relation] cause [Effect] put downward pressure on West's ability to increase price and lead to lower demand for higher-value, higher-margin services like NovaPure",
    "gold": "[Cause] put downward pressure on West's ability [Relation] cause [Effect] increase price and lead to lower demand for higher-value, higher-margin services like NovaPure",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although we think that F5 was caught off-guard with the growth in cloud-based workloads creating a lower demand for F5 hardware, our view is that the company's strategic pivot will keep it ensnared in customer networks.",
    "output": "[Cause] the growth in cloud-based workloads creating a lower demand for F5 hardware [Relation] cause [Effect] F5 was caught off-guard",
    "gold": "[Cause]  the growth in cloud-based workloads creating a lower demand for F5 hardware [Relation] enable [Effect] F5 was caught off-guard",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The truck brokerage business is still vastly fragmented, and small, less sophisticated providers are finding it increasingly difficult to keep up with rising demand for efficient capacity access and informational know-how.",
    "output": "[Cause] The truck brokerage business is still vastly fragmented [Relation] cause [Effect] small, less sophisticated providers are finding it increasingly difficult to keep up with rising demand for efficient capacity access and informational know-how",
    "gold": "[Cause] The truck brokerage business is still vastly fragmented [Relation] cause [Effect] difficult to keep up with rising demand for efficient capacity access and informational know-how.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We anticipate the number of Gap Global stores worldwide will fall to 693 in 2030 from 1,013 at the end of 2020 as sales decline to $3.0 billion from $3.4 billion.",
    "output": "[Cause] sales decline to $3.0 billion from $3.4 billion [Relation] cause [Effect] the number of Gap Global stores worldwide will fall to 693 in 2030 from 1,013 at the end of 2020",
    "gold": "[Cause] sales decline to $3.0 billion from $3.4 billion [Relation] cause [Effect]  the number of Gap Global stores worldwide will fall to 693 in 2030 from 1,013 at the end of 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, since there are steep barriers to entry and thus only two viable aircraft manufacturers, customers would have difficulty switching even if they wanted to.",
    "output": "[Cause] there are steep barriers to entry [Relation] cause [Effect] only two viable aircraft manufacturers",
    "gold": "[Cause] there are steep barriers to entry [Relation] cause [Effect] only two viable aircraft manufacturers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, since there are steep barriers to entry and thus only two viable aircraft manufacturers, customers would have difficulty switching even if they wanted to.",
    "output": "[Cause] there are steep barriers to entry [Relation] cause [Effect] customers would have difficulty switching even if they wanted to",
    "gold": "[Cause] only two viable aircraft manufacturers [Relation] cause [Effect] customers would have difficulty switching even if they wanted to",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Businesses will benefit from incorporating use cases across buying centers as they will be able to view the interactions between different segments of operations in one place; this will also drive excess returns for Splunk.",
    "output": "[Cause] they will be able to view the interactions between different segments of operations in one place [Relation] cause [Effect] Businesses will benefit from incorporating use cases across buying centers",
    "gold": "[Cause] they will be able to view the interactions between different segments of operations in one place [Relation] enable [Effect] drive excess returns for Splunk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Businesses will benefit from incorporating use cases across buying centers as they will be able to view the interactions between different segments of operations in one place; this will also drive excess returns for Splunk.",
    "output": "[Cause] they will be able to view the interactions between different segments of operations in one place [Relation] cause [Effect] Businesses will benefit from incorporating use cases across buying centers",
    "gold": "[Cause] they will be able to view the interactions between different segments of operations in one place [Relation] cause [Effect] Businesses will benefit from incorporating use cases across buying centers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume a 23% rebound in fiscal 2021 with recovery to more normalized global light-vehicle demand in Nissan's fiscal 2023.",
    "output": "[Cause] recovery to more normalized global light-vehicle demand in Nissan's fiscal 2023 [Relation] cause [Effect] a 23% rebound in fiscal 2021",
    "gold": "[Cause] a 23% rebound in fiscal 2021 [Relation] cause [Effect] recovery to more normalized global light-vehicle demand in Nissan's fiscal 2023",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over the next five years, our sales growth outlook averages 4.4%, hindered by a 2.5% sales drop in fiscal 2021 (better than the 7% decline we had forecast previously).",
    "output": "[Cause] a 2.5% sales drop in fiscal 2021 [Relation] prevent [Effect] our sales growth outlook averages 4.4%",
    "gold": "[Cause] a 2.5% sales drop in fiscal 2021 [Relation] enable [Effect] our sales growth outlook averages 4.4%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the past few years, customer acquisition costs have failed to become more efficient, rising to around $90 in 2019 (versus $66 in 2016), while direct retail advertising spending growth has also increased to support sales increases.",
    "output": "[Cause] direct retail advertising spending growth has also increased [Relation] enable [Effect] support sales increases",
    "gold": "[Cause] direct retail advertising spending growth has also increased [Relation] cause [Effect] support sales increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect recovery from COVID-19 to further boost top-line growth and result in a 50% increase in 2021 (from 46% in 2020) and 32% year-over-year growth in 2022, representing total revenue of $3.8 billion and $5 billion, respectively.",
    "output": "[Cause] recovery from COVID-19 [Relation] enable [Effect] a 50% increase in 2021 (from 46% in 2020) and 32% year-over-year growth in 2022",
    "gold": "[Cause] recovery from COVID-19 [Relation] enable [Effect] a 50% increase in 2021 (from 46% in 2020) and 32% year-over-year growth in 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Focused entry from companies such as Google, Amazon, Facebook, and Alibaba would have a meaningful impact to TripAdvisor's growth, as the barriers to replicating its business model are not insurmountable and could be surmounted within a few years, in our opinion.",
    "output": "[Cause] the barriers to replicating its business model are not insurmountable and could be surmounted within a few years [Relation] cause [Effect] Focused entry from companies such as Google, Amazon, Facebook, and Alibaba would have a meaningful impact to TripAdvisor's growth",
    "gold": "[Cause] the barriers to replicating its business model are not insurmountable and could be surmounted within a few years [Relation] cause [Effect] Focused entry from companies such as Google, Amazon, Facebook, and Alibaba would have a meaningful impact to TripAdvisor's growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Potential data breaches, given BCE's access and transport of sensitive data, and business disruptions of what is now essentially a utility would also be risks.",
    "output": "[Cause] BCE's access and transport of sensitive data, and business disruptions of what is now essentially a utility [Relation] cause [Effect] Potential data breaches",
    "gold": "[Cause] Potential data breaches [Relation] cause [Effect] be risks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect an 8% CAGR in online marketing revenue in the next five years, driven by recovery in the longer term.",
    "output": "[Cause] recovery in the longer term [Relation] cause [Effect] an 8% CAGR in online marketing revenue in the next five years",
    "gold": "[Cause] recovery in the longer term [Relation] cause [Effect] an 8% CAGR in online marketing revenue in the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, Dell Technologies should be able to maintain gross margins in the low 30% range, up from the mid-20% range in fiscal 2018 and fiscal 2019 through increasing product cross-sales and upsells, especially through adding software suites.",
    "output": "[Cause] increasing product cross-sales and upsells, especially through adding software suites [Relation] enable [Effect] Dell Technologies should be able to maintain gross margins in the low 30% range, up from the mid-20% range in fiscal 2018 and fiscal 2019",
    "gold": "[Cause] increasing product cross-sales and upsells, especially through adding software suites [Relation] enable [Effect] Dell Technologies should be able to maintain gross margins in the low 30% range, up from the mid-20% range in fiscal 2018 and fiscal 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even in a bear-case scenario, marked by the assumed failure of leading wholly-owned programs like TTR-LRx and APOCIII-LRx and lower operating margins, we see ROICs steadily improving to 15% by 2029.",
    "output": "[Cause] the assumed failure of leading wholly-owned programs like TTR-LRx and APOCIII-LRx and lower operating margins [Relation] cause [Effect] ROICs steadily improving to 15% by 2029",
    "gold": "[Cause] a bear-case scenario [Relation] enable [Effect] ROICs steadily improving to 15% by 2029",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, CrowdStrike's solutions establish customer switching costs and its network effect makes changing vendors a challenge as clients rely on having the latest threat protection.",
    "output": "[Cause] clients rely on having the latest threat protection [Relation] cause [Effect] its network effect makes changing vendors a challenge",
    "gold": "[Cause]  clients rely on having the latest threat protection [Relation] cause [Effect]  its network effect makes changing vendors a challenge",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As demand resumes longer term, we think pricing could grow at a low-single-digit clip (averaging around 2% between 2023-30) as willingness to socially gather resumes.",
    "output": "[Cause] demand resumes longer term [Relation] cause [Effect] pricing could grow at a low-single-digit clip (averaging around 2% between 2023-30) as willingness to socially gather resumes",
    "gold": "[Cause] willingness to socially gather resumes [Relation] cause [Effect] pricing could grow at a low-single-digit clip (averaging around 2% between 2023-30)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Notwithstanding periods of economic distress, sales growth tends to be consistent in a mid-single digit range, and market dynamics have been stable over time, owing to the entrenched position of market leaders in a mature market.",
    "output": "[Cause] the entrenched position of market leaders in a mature market [Relation] cause [Effect] sales growth tends to be consistent in a mid-single digit range, and market dynamics have been stable over time",
    "gold": "[Cause]  the entrenched position of market leaders in a mature market [Relation] enable [Effect]  sales growth tends to be consistent in a mid-single digit range, and market dynamics have been stable over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast that returns on invested capital will rise only slightly over our explicit forecast period, and we have a high degree of confidence that positive economic profits will prove durable for at least the next 10 years.",
    "output": "[Cause] positive economic profits [Relation] enable [Effect] prove durable for at least the next 10 years",
    "gold": "[Cause]  returns on invested capital will rise only slightly over our explicit forecast period [Relation] enable [Effect]  a high degree of confidence that positive economic profits will prove durable for at least the next 10 years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, Capital One has a higher exposure to subprime card and auto lending, and these risks will only be exacerbated by COVID-19 and the increasing uncertainty around the economy.",
    "output": "[Cause] COVID-19 and the increasing uncertainty around the economy [Relation] cause [Effect] these risks will only be exacerbated",
    "gold": "[Cause]  COVID-19 and the increasing uncertainty around the economy [Relation] cause [Effect]  these risks will only be exacerbated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the recent migration of wealth to urban centers has been a boon to Kilroy Realty, these dynamics can reverse, with such shifts having the potential to have a dramatic impact on the company's fortunes.",
    "output": "[Cause] the recent migration of wealth to urban centers [Relation] cause [Effect] a boon to Kilroy Realty",
    "gold": "[Cause]  the recent migration of wealth to urban centers [Relation] cause [Effect] a boon to Kilroy Realty",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the recent migration of wealth to urban centers has been a boon to Kilroy Realty, these dynamics can reverse, with such shifts having the potential to have a dramatic impact on the company's fortunes.",
    "output": "[Cause] these dynamics can reverse [Relation] cause [Effect] having the potential to have a dramatic impact on the company's fortunes",
    "gold": "[Cause] these dynamics can reverse [Relation] cause [Effect] having the potential to have a dramatic impact on the company's fortunes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the added complexity of Internet of Things-related integration of factory machines (that is integrating robots with other type of machines from different suppliers), we see that this factor will further prevent switching costs from narrowing for a long time.",
    "output": "[Cause] the added complexity of Internet of Things-related integration of factory machines [Relation] cause [Effect] we see that this factor will further prevent switching costs from narrowing for a long time",
    "gold": "[Cause]  the added complexity of Internet of Things-related integration of factory machines [Relation] cause [Effect]  we see that this factor will further prevent switching costs from narrowing for a long time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our adjusted EBITDA margin forecast of 31% in 2030 represents an increase from the 25.3% reported in 2019 and is unchanged, as we expect margins from incremental sports betting and iGaming demand to be like consolidated results for the region.",
    "output": "[Cause] we expect margins from incremental sports betting and iGaming demand to be like consolidated results for the region [Relation] cause [Effect] Our adjusted EBITDA margin forecast of 31% in 2030 represents an increase from the 25.3% reported in 2019 and is unchanged",
    "gold": "[Cause] we expect margins from incremental sports betting and iGaming demand to be like consolidated results for the region [Relation] cause [Effect] Our adjusted EBITDA margin forecast of 31% in 2030 represents an increase from the 25.3% reported in 2019 and is unchanged",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At the 2020 result, management announced a plan to invest in original content production by leveraging its large pay TV subscriber base to drive growth for the company.",
    "output": "[Cause] leveraging its large pay TV subscriber base to drive growth for the company [Relation] enable [Effect] management announced a plan to invest in original content production",
    "gold": "[Cause] At the 2020 result, management announced a plan to invest in original content production by leveraging its large pay TV subscriber base to drive growth for the company. [Relation] enable [Effect] base to drive growth for the company",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "On a pro forma basis, including the declines during quarantine efforts in 2020, we project revenue to grow at an 8% compound annual growth rate through 2024, driven by the secular shift toward electronic payments, increasing e-commerce revenue, and growth in international markets.",
    "output": "[Cause] the secular shift toward electronic payments, increasing e-commerce revenue, and growth in international markets [Relation] cause [Effect] revenue to grow at an 8% compound annual growth rate through 2024",
    "gold": "[Cause]  the secular shift toward electronic payments, increasing e-commerce revenue, and growth in international markets. [Relation] cause [Effect]  grow at an 8% compound annual growth rate through 2024,",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "At the same time, it can increase its buying power through the recent growth of its operations, as it has become the largest procurer of aftermarket auto parts in the region.",
    "output": "[Cause] it has become the largest procurer of aftermarket auto parts in the region [Relation] cause [Effect] it can increase its buying power through the recent growth of its operations",
    "gold": "[Cause] it has become the largest procurer of aftermarket auto parts in the region [Relation] cause [Effect] it can increase its buying power through the recent growth of its operations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Fermacell's local market expertise will assist, masonry construction--the norm in Europe--does not lend itself to the same applications of fibre cement as framed construction, which is typical in the North American and Australian geographies. As such, the competitive positioning of its eventual product offering--which is to be developed once the firm has gathered market intelligence as to where new applications of fibre cement will provide significant opportunity--will likely be less strong than in its existing geographies.",
    "output": "[Cause] While Fermacell's local market expertise will assist, masonry construction--the norm in Europe--does not lend itself to the same applications of fibre cement as framed construction, which is typical in the North American and Australian geographies [Relation] cause [Effect] the competitive positioning of its eventual product offering--which is to be developed once the firm has gathered market intelligence as to where new applications of fibre cement will provide significant opportunity--will likely be less strong than in its existing geographies",
    "gold": "[Cause] While Fermacell's local market expertise will assist, masonry construction--the norm in Europe--does not lend itself to the same applications of fibre cement as framed construction, which is typical in the North American and Australian geographies [Relation] cause [Effect]  the competitive positioning of its eventual product offering--which is to be developed once the firm has gathered market intelligence as to where new applications of fibre cement will provide significant opportunity--will likely be less strong than in its existing geographies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lennox's ability to extract a price premium for higher-end HVAC products results in favorable margins compared with competitors offering lower-tier products.",
    "output": "[Cause] Lennox's ability to extract a price premium for higher-end HVAC products [Relation] cause [Effect] favorable margins compared with competitors offering lower-tier products",
    "gold": "[Cause] Lennox's ability to extract a price premium for higher [Relation] cause [Effect] end HVAC products results in favorable margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The domestic toy industry remains mature and stable, and we expect global demand to grow at a low-single-digit pace on average over the long term for Mattel as product improvement, price increases, and emerging-market growth should help offset slower domestic growth.",
    "output": "[Cause] product improvement, price increases, and emerging-market growth [Relation] prevent [Effect] slower domestic growth",
    "gold": "[Cause]  slower domestic growth [Relation] prevent [Effect] product improvement, price increases, and emerging-market growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The domestic toy industry remains mature and stable, and we expect global demand to grow at a low-single-digit pace on average over the long term for Mattel as product improvement, price increases, and emerging-market growth should help offset slower domestic growth.",
    "output": "[Cause] product improvement, price increases, and emerging-market growth [Relation] prevent [Effect] slower domestic growth",
    "gold": "[Cause]  product improvement, price increases, and emerging-market growth [Relation] enable [Effect]  global demand to grow at a low-single-digit pace on average over the long term for Mattel",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect a 13% CAGR in online marketing revenue in the next five years, driven by a recovery for iQiyi and Baidu core in the longer term.",
    "output": "[Cause] a recovery for iQiyi and Baidu core in the longer term [Relation] cause [Effect] a 13% CAGR in online marketing revenue in the next five years",
    "gold": "[Cause] a recovery for iQiyi and Baidu core in the longer term [Relation] enable [Effect]  a 13% CAGR in online marketing revenue in the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, over time we do expect Banco de Chile to accrue benefits from these investments as well as increased operating leverage as its revenue grows.",
    "output": "[Cause] its revenue grows [Relation] cause [Effect] increased operating leverage",
    "gold": "[Cause]  over time | as well as increased operating leverage [Relation] enable [Effect] we do expect Banco de Chile to accrue benefits from these investments | as its revenue grows",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Fluctuations in annual stream flow also might alter Portland General's mix of energy available from its low-cost hydro plants.",
    "output": "[Cause] Fluctuations in annual stream flow [Relation] cause [Effect] alter Portland General's mix of energy available from its low-cost hydro plants",
    "gold": "[Cause] Fluctuations in annual stream flow [Relation] cause [Effect] alter Portland General's mix of energy available from its low-cost hydro plants",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If market reception for the next-gen FreeStyle Libre CGM and 780g insulin pump exceeds our optimistic expectations, Dexcom would bear the brunt of this dynamic.",
    "output": "[Cause] market reception for the next-gen FreeStyle Libre CGM and 780g insulin pump exceeds our optimistic expectations [Relation] cause [Effect] Dexcom would bear the brunt of this dynamic",
    "gold": "[Cause] market reception for the next-gen FreeStyle Libre CGM and 780g insulin pump exceeds our optimistic expectations [Relation] cause [Effect] Dexcom would bear the brunt of this dynamic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This is important because more than 40% of Eaton Vance's product mix caters to retail investors, who are generally less sticky than institutional or high-net-worth investors.",
    "output": "[Cause] more than 40% of Eaton Vance's product mix caters to retail investors [Relation] cause [Effect] less sticky than institutional or high-net-worth investors",
    "gold": "[Cause] more than 40% of Eaton Vance's product mix caters to retail investors [Relation] cause [Effect] less sticky than institutional or high-net-worth investors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our moat rating is based on a mix of structural and intangible competitive advantages, including a widely recognized brand, a franchisee system aligned on driving unit-level productivity improvements, and meaningful economies of scale. These qualities were instrumental in helping McDonald's to build the largest restaurant chain in the world (based on systemwide sales) and resulted in leading market share in most countries in which it operates, with the notable exception of China.",
    "output": "[Cause] Our moat rating is based on a mix of structural and intangible competitive advantages, including a widely recognized brand, a franchisee system aligned on driving unit-level productivity improvements, and meaningful economies of scale [Relation] enable [Effect] helping McDonald's to build the largest restaurant chain in the world (based on systemwide sales) and resulted in leading market share in most countries in which it operates, with the notable exception of China",
    "gold": "[Cause] Our moat rating is based on a mix of structural and intangible competitive advantages, including a widely recognized brand, a franchisee system aligned on driving unit-level productivity improvements, and meaningful economies of scale [Relation] enable [Effect] helping McDonald's to build the largest restaurant chain in the world (based on systemwide sales) and resulted in leading market share in most countries in which it operates, with the notable exception of China",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our 2020 revenue projection takes into account our estimates of the coronavirus' negative impact on the B2B segment, handset sales and consumers' behavior in emerging markets in the form of postponing upgrades to higher data plans and devices. This results in the group's sales growth, including currency effects, at negative 6%, but we expect revenue to recover afterward.",
    "output": "[Cause] Our 2020 revenue projection takes into account our estimates of the coronavirus' negative impact on the B2B segment, handset sales and consumers' behavior in emerging markets in the form of postponing upgrades to higher data plans and devices [Relation] cause [Effect] the group's sales growth, including currency effects, at negative 6%, but we expect revenue to recover afterward",
    "gold": "[Cause] Our 2020 revenue projection takes into account our estimates of the coronavirus' negative impact on the B2B segment, handset sales and consumers' behavior in emerging markets in the form of postponing upgrades to higher data plans and devices [Relation] cause [Effect]  the group's sales growth, including currency effects, at negative 6%, but we expect revenue to recover afterward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As part of compliance for admittance to the World Trade Organization, China has been loosening restrictions that favor Chinese firms.",
    "output": "[Cause] part of compliance for admittance to the World Trade Organization [Relation] cause [Effect] China has been loosening restrictions that favor Chinese firms",
    "gold": "[Cause] part of compliance for admittance to the World Trade Organization [Relation] cause [Effect] China has been loosening restrictions that favor Chinese firms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The COVID-19 outbreak presents a challenge as most company-owned and third-party stores that carry its products have suffered temporary closures.",
    "output": "[Cause] most company-owned and third-party stores that carry its products have suffered temporary closures [Relation] cause [Effect] The COVID-19 outbreak presents a challenge",
    "gold": "[Cause] most company-owned and third-party stores that carry its products have suffered temporary closures [Relation] cause [Effect] The COVID-19 outbreak presents a challenge",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we are favorable on Hyatt's long-term competitive advantages, we do think the firm's high luxury, upper upscale, and upscale exposures position it to underperform demand for local road trips at lower price points until confidence in air travel is lifted by a widely distributed vaccine.",
    "output": "[Cause] the firm's high luxury, upper upscale, and upscale exposures [Relation] enable [Effect] underperform demand for local road trips at lower price points",
    "gold": "[Cause] a widely distributed vaccine [Relation] cause [Effect] confidence in air travel is lifted",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition to investing in research and development, Nordson has historically pursued M&amp;A deals to broaden its portfolio of solutions and enter into adjacent markets.",
    "output": "[Cause] Nordson has historically pursued M&amp;A deals [Relation] enable [Effect] broaden its portfolio of solutions and enter into adjacent markets",
    "gold": "[Cause] Nordson has historically pursued M&amp;A deals [Relation] enable [Effect] broaden its portfolio of solutions and enter into adjacent markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Zscaler's historical revenue growth has far exceeded its customer growth, and we think this trend will continue, as the firm's proven ability to extract incremental value from its base drives continued sales growth.",
    "output": "[Cause] the firm's proven ability to extract incremental value from its base drives continued sales growth [Relation] cause [Effect] Zscaler's historical revenue growth has far exceeded its customer growth, and we think this trend will continue",
    "gold": "[Cause]  the firm's proven ability to extract incremental value from its base drives continued sales growth [Relation] cause [Effect] Zscaler's historical revenue growth has far exceeded its customer growth, and we think this trend will continue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think this lack of pricing power is particularly challenging given the intense competitive landscape in which the firm plays.",
    "output": "[Cause] the intense competitive landscape in which the firm plays [Relation] cause [Effect] We think this lack of pricing power is particularly challenging",
    "gold": "[Cause] the intense competitive landscape in which the firm plays [Relation] cause [Effect] We think this lack of pricing power is particularly challenging",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Barriers to entry are high because a large capital investment is required to design and construct a line of motor homes.",
    "output": "[Cause] a large capital investment is required to design and construct a line of motor homes [Relation] cause [Effect] Barriers to entry are high",
    "gold": "[Cause] a large capital investment is required to design and construct a line of motor homes [Relation] cause [Effect] Barriers to entry are high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As primarily a private bank or wealth manager, Credit Suisse's exposure to interest rates and the credit cycle is more constrained than the typical universal bank.",
    "output": "[Cause] primarily a private bank or wealth manager [Relation] cause [Effect] Credit Suisse's exposure to interest rates and the credit cycle is more constrained than the typical universal bank",
    "gold": "[Cause]  primarily a private bank or wealth manager [Relation] enable [Effect] Credit Suisse's exposure to interest rates and the credit cycle is more constrained than the typical universal bank",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, the auto industry is so cyclical that in bad times even the best automakers cannot avoid large declines in returns on invested capital and profit.",
    "output": "[Cause] the auto industry is so cyclical [Relation] cause [Effect] in bad times even the best automakers cannot avoid large declines in returns on invested capital and profit",
    "gold": "[Cause] the auto industry is so cyclical [Relation] cause [Effect] in bad times even the best automakers cannot avoid large declines in returns on invested capital and profit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect AT&amp;T and Verizon will increasingly turn to fixed-wireless Internet access as 5G wireless technologies emerge to close the gap with the cable companies, but we're skeptical that fixed wireless will challenge traditional Internet access offerings on a broad scale anytime soon.",
    "output": "[Cause] 5G wireless technologies emerge [Relation] cause [Effect] AT&amp;T and Verizon will increasingly turn to fixed-wireless Internet access",
    "gold": "[Cause] 5G wireless technologies emerge [Relation] cause [Effect] close the gap with the cable companies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also expect AT&amp;T and Verizon will increasingly turn to fixed-wireless Internet access as 5G wireless technologies emerge to close the gap with the cable companies, but we're skeptical that fixed wireless will challenge traditional Internet access offerings on a broad scale anytime soon.",
    "output": "[Cause] 5G wireless technologies emerge [Relation] cause [Effect] AT&amp;T and Verizon will increasingly turn to fixed-wireless Internet access",
    "gold": "[Cause] close the gap with the cable companies [Relation] enable [Effect] AT&amp;T and Verizon will increasingly turn to fixed-wireless Internet access",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect operating margins to improve significantly over time, increasing from 9% in 2020 to 28% by 2025. This is partially due to depressed margins in 2020, but also the result of the sizable synergies from the First Data merger and a falloff in amortization expense over time.",
    "output": "[Cause] depressed margins in 2020, but also the result of the sizable synergies from the First Data merger and a falloff in amortization expense over time [Relation] cause [Effect] operating margins to improve significantly over time, increasing from 9% in 2020 to 28% by 2025",
    "gold": "[Cause] depressed margins in 2020, but also the result of the sizable synergies from the First Data merger and a falloff in amortization expense over time [Relation] cause [Effect] operating margins to improve significantly over time, increasing from 9% in 2020 to 28% by 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Medical imaging equipment is an oligopoly where Siemens, General Electric and Philips have 70% market share worldwide, so there aren't many suppliers who hospitals can turn to.",
    "output": "[Cause] Medical imaging equipment is an oligopoly where Siemens, General Electric and Philips have 70% market share worldwide [Relation] cause [Effect] there aren't many suppliers who hospitals can turn to",
    "gold": "[Cause] Medical imaging equipment is an oligopoly where Siemens, General Electric and Philips have 70% market share worldwide [Relation] cause [Effect] there aren't many suppliers who hospitals can turn to",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Between 2021 and 2025, we assume the firm can post organic top-line expansion of about 4% as the economy continues to normalize and residential housing construction remains strong.",
    "output": "[Cause] the economy continues to normalize and residential housing construction remains strong [Relation] cause [Effect] the firm can post organic top-line expansion of about 4%",
    "gold": "[Cause] the economy continues to normalize and residential housing construction remains strong [Relation] enable [Effect] the firm can post organic top-line expansion of about 4%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given Envestnet's high-growth outlook (double-digit organic revenue growth) and lumpiness in sales activity, our valuation is sensitive to various projections.",
    "output": "[Cause] Envestnet's high-growth outlook (double-digit organic revenue growth) and lumpiness in sales activity [Relation] cause [Effect] our valuation is sensitive to various projections",
    "gold": "[Cause] Envestnet's high-growth outlook (double-digit organic revenue growth) and lumpiness in sales activity [Relation] cause [Effect] our valuation is sensitive to various projections",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For instance, if a business decided to replace Nice's CXone with a different vendor, there would be a disruption in customer communication that could adversely affect customer service, leading to frustration and a loss of customers.",
    "output": "[Cause] a disruption in customer communication [Relation] cause [Effect] adversely affect customer service",
    "gold": "[Cause]  a disruption in customer communication [Relation] cause [Effect] adversely affect customer service",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For instance, if a business decided to replace Nice's CXone with a different vendor, there would be a disruption in customer communication that could adversely affect customer service, leading to frustration and a loss of customers.",
    "output": "[Cause] a disruption in customer communication [Relation] cause [Effect] adversely affect customer service",
    "gold": "[Cause] adversely affect customer service [Relation] cause [Effect] frustration and a loss of customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The international hotel market remains fragmented, leaving a large opportunity for InterContinental to bring independent hotels under its franchise and management umbrella.",
    "output": "[Cause] The international hotel market remains fragmented [Relation] cause [Effect] a large opportunity for InterContinental to bring independent hotels under its franchise and management umbrella",
    "gold": "[Cause] The international hotel market remains fragmented [Relation] enable [Effect] a large opportunity for InterContinental to bring independent hotels under its franchise and management umbrella",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2022, our non-GAAP operating margin of would be very similar to 2019's 19% based on our assumption of higher reinvestment into the businesses offsetting the benefits of streamlined operations.",
    "output": "[Cause] our assumption of higher reinvestment into the businesses offsetting the benefits of streamlined operations [Relation] cause [Effect] our non-GAAP operating margin of would be very similar to 2019's 19%",
    "gold": "[Cause] our assumption of higher reinvestment into the businesses offsetting the benefits of streamlined operations [Relation] cause [Effect]  our non-GAAP operating margin of would be very similar to 2019's 19%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customers in Dollar General's more rural markets have few options, but the firm's growth should lead to the placement of new stores in incrementally more competitive areas.",
    "output": "[Cause] the firm's growth [Relation] cause [Effect] placement of new stores in incrementally more competitive areas",
    "gold": "[Cause] the firm's growth [Relation] cause [Effect] placement of new stores in incrementally more competitive areas",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the firm introduces new modules, we believe its product will become increasingly attractive to businesses, enabling Coupa to remain competitive in the procure-to-pay arena.",
    "output": "[Cause] the firm introduces new modules [Relation] cause [Effect] its product will become increasingly attractive to businesses",
    "gold": "[Cause] the firm introduces new modules [Relation] cause [Effect] its product will become increasingly attractive to businesses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the firm introduces new modules, we believe its product will become increasingly attractive to businesses, enabling Coupa to remain competitive in the procure-to-pay arena.",
    "output": "[Cause] its product will become increasingly attractive to businesses [Relation] enable [Effect] Coupa to remain competitive in the procure-to-pay arena",
    "gold": "[Cause] its product will become increasingly attractive to businesses [Relation] enable [Effect] Coupa to remain competitive in the procure-to-pay arena",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It thus contributes to the software's mission-critical function as the product is essential in maintaining external relationships and providing a high quality of service.",
    "output": "[Cause] the product is essential in maintaining external relationships and providing a high quality of service [Relation] cause [Effect] contributes to the software's mission-critical function",
    "gold": "[Cause] the product is essential in maintaining external relationships and providing a high quality of service [Relation] cause [Effect]  contributes to the software's mission-critical function",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, current prices sit around $360 per metric ton as demand has grown in 2020, while Chinese exports have slowed down, supporting higher prices.",
    "output": "[Cause] demand has grown in 2020 [Relation] cause [Effect] current prices sit around $360 per metric ton",
    "gold": "[Cause] Chinese exports have slowed down [Relation] enable [Effect] higher prices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, current prices sit around $360 per metric ton as demand has grown in 2020, while Chinese exports have slowed down, supporting higher prices.",
    "output": "[Cause] Chinese exports have slowed down [Relation] cause [Effect] supporting higher prices",
    "gold": "[Cause] demand has grown in 2020 [Relation] cause [Effect] current prices sit around $360 per metric ton",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "On the profitability front, we expect EBITDA margin to average 14.0% during the next three years, above the 11.8% achieved in the past three years mainly due to the impact of cost-cutting measures.",
    "output": "[Cause] the impact of cost-cutting measures [Relation] cause [Effect] EBITDA margin to average 14.0% during the next three years, above the 11.8% achieved in the past three years",
    "gold": "[Cause] the impact of cost-cutting measures [Relation] cause [Effect] EBITDA margin to average 14.0% during the next three years, above the 11.8% achieved in the past three years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, like other large brand scale hotel chains, its hotels operate at all hours and days of the year, using energy and supplies, which if not properly managed could cause some people to lose interest in visiting.",
    "output": "[Cause] not properly managed [Relation] cause [Effect] some people to lose interest in visiting",
    "gold": "[Cause] not properly managed [Relation] cause [Effect] some people to lose interest in visiting",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "LaCroix's lead is overstated by the Euromonitor data, as the latter excludes the carbonated SKUs of brands like SmartWater and Propel (included in a separate category), but the business' general leadership in this space is irrefutable.",
    "output": "[Cause] the latter excludes the carbonated SKUs of brands like SmartWater and Propel (included in a separate category) [Relation] cause [Effect] LaCroix's lead is overstated by the Euromonitor data",
    "gold": "[Cause] LaCroix's lead is overstated by the Euromonitor data [Relation] enable [Effect] the latter excludes the carbonated SKUs of brands like SmartWater and Propel (included in a separate category)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given Xcel's large capital investment plans the next five years, we expect its utilities to continue to be active in front of regulators asking for customer rate increases.",
    "output": "[Cause] Xcel's large capital investment plans the next five years [Relation] cause [Effect] its utilities to continue to be active in front of regulators asking for customer rate increases",
    "gold": "[Cause] Xcel's large capital investment plans the next five years [Relation] cause [Effect] its utilities to continue to be active in front of regulators asking for customer rate increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Most obviously, given its massive scale, Amazon has created cost advantages including buying power, economies of scope, route density, and research and development.",
    "output": "[Cause] its massive scale [Relation] cause [Effect] Amazon has created cost advantages including buying power, economies of scope, route density, and research and development",
    "gold": "[Cause]  its massive scale [Relation] enable [Effect] Amazon has created cost advantages including buying power, economies of scope, route density, and research and development",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This contributes to economies of scale and economies of scope and can create switching costs for customers as they use the bank for more and more products.",
    "output": "[Cause] they use the bank for more and more products [Relation] cause [Effect] This contributes to economies of scale and economies of scope and can create switching costs for customers",
    "gold": "[Cause]  they use the bank for more and more products [Relation] cause [Effect] This contributes to economies of scale and economies of scope and can create switching costs for customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In secondary markets, Waste Connections often has the only landfill in the vicinity or is maybe one of two. Thus, even if it loses collection business in those markets, that same waste could end up at its landfills anyway via third-party haulers.",
    "output": "[Cause] In secondary markets, Waste Connections often has the only landfill in the vicinity or is maybe one of two [Relation] cause [Effect] even if it loses collection business in those markets, that same waste could end up at its landfills anyway via third-party haulers",
    "gold": "[Cause] In secondary markets, Waste Connections often has the only landfill in the vicinity or is maybe one of two [Relation] cause [Effect] even if it loses collection business in those markets, that same waste could end up at its landfills anyway via third-party haulers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's strong brand cachet as a luxury automaker commands premium pricing in the luxury auto market, while Tesla's electric vehicle manufacturing expertise allows the company to make its vehicles cheaper than its competitors.",
    "output": "[Cause] Tesla's electric vehicle manufacturing expertise [Relation] enable [Effect] the company to make its vehicles cheaper than its competitors",
    "gold": "[Cause] Tesla's electric vehicle manufacturing expertise [Relation] enable [Effect] the company to make its vehicles cheaper than its competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we expect such gains to be offset by higher investment as the home furnishing landscape remains highly fragmented and competitive, limiting profitability to levels that are structurally lower than in the past.",
    "output": "[Cause] the home furnishing landscape remains highly fragmented and competitive [Relation] cause [Effect] such gains to be offset by higher investment",
    "gold": "[Cause] the home furnishing landscape remains highly fragmented and competitive [Relation] enable [Effect] such gains to be offset by higher investment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we expect such gains to be offset by higher investment as the home furnishing landscape remains highly fragmented and competitive, limiting profitability to levels that are structurally lower than in the past.",
    "output": "[Cause] the home furnishing landscape remains highly fragmented and competitive [Relation] prevent [Effect] such gains to be offset by higher investment",
    "gold": "[Cause] such gains to be offset by higher investment [Relation] prevent [Effect] levels that are structurally lower than in the past",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As such, each capital equipment sale expands Nordson's installed base and helps grow the relatively predictable and high-margin stream of cash flows from replacement parts and consumables.",
    "output": "[Cause] capital equipment sale [Relation] enable [Effect] Nordson's installed base",
    "gold": "[Cause] capital equipment sale [Relation] enable [Effect]  Nordson's installed base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As such, each capital equipment sale expands Nordson's installed base and helps grow the relatively predictable and high-margin stream of cash flows from replacement parts and consumables.",
    "output": "[Cause] capital equipment sale [Relation] enable [Effect] grows the relatively predictable and high-margin stream of cash flows from replacement parts and consumables",
    "gold": "[Cause] capital equipment sale [Relation] enable [Effect] grow the relatively predictable and high-margin stream of cash",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While salt prices have historically outpaced inflation, we forecast prices to decline by a mid-single-digit level in 2021 amid a milder 2020 winter, which has led to falling prices.",
    "output": "[Cause] a milder 2020 winter [Relation] cause [Effect] prices to decline by a mid-single-digit level in 2021",
    "gold": "[Cause] we forecast prices to decline by a mid-single-digit level in 2021 amid a milder 2020 winter [Relation] cause [Effect] led to falling prices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "JD is a long-term margin expansion story driven by increasing scale from JD direct sales and marketplace, partially offset by the push into JD logistics in the medium term.",
    "output": "[Cause] increasing scale from JD direct sales and marketplace [Relation] cause [Effect] JD is a long-term margin expansion story",
    "gold": "[Cause] the push into JD logistics in the medium term [Relation] prevent [Effect] increasing scale from JD direct sales and marketplace",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, the Pluto linear streaming service will generate strong ad revenue growth as the platform expands internationally and increases its monthly active user base.",
    "output": "[Cause] the platform expands internationally and increases its monthly active user base [Relation] cause [Effect] the Pluto linear streaming service will generate strong ad revenue growth",
    "gold": "[Cause] the platform expands internationally and increases its monthly active user base [Relation] cause [Effect]  the Pluto linear streaming service will generate strong ad revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The primary driver of the raise ($4 worth of the intrinsic value change) was ITT's outperformance to date relative to our prior 2021 expectations, along with some additional NOPAT growth in stage II of our DCF and time value of money.",
    "output": "[Cause] ITT's outperformance to date relative to our prior 2021 expectations [Relation] cause [Effect] The primary driver of the raise ($4 worth of the intrinsic value change)",
    "gold": "[Cause] some additional NOPAT growth in stage II of our DCF and time value of money [Relation] enable [Effect] the raise ($4 worth of the intrinsic value change)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Conversely, retailers will want to keep their stores located in the top malls as they have strong demographic trends, high foot traffic, and generate high sales.",
    "output": "[Cause] they have strong demographic trends, high foot traffic, and generate high sales [Relation] cause [Effect] retailers will want to keep their stores located in the top malls",
    "gold": "[Cause]  they have strong demographic trends, high foot traffic, and generate high sales [Relation] cause [Effect] retailers will want to keep their stores located in the top malls",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We incorporate $5 per share of incremental value to better recognize the benefits accruing to WEC Energy Group from having issued debt at coupon rates far below our cost of debt.",
    "output": "[Cause] We incorporate $5 per share of incremental value [Relation] enable [Effect] better recognize the benefits accruing to WEC Energy Group from having issued debt at coupon rates far below our cost of debt",
    "gold": "[Cause] WEC Energy Group from having issued debt at coupon rates far below our cost of debt [Relation] cause [Effect] We incorporate $5 per share of incremental value to better recognize the benefits",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe at least two thirds of these locations offer comparable performance characteristics to what the firm is currently drilling, which means that no drop-off in productivity or capital efficiency is expected.",
    "output": "[Cause] at least two thirds of these locations offer comparable performance characteristics to what the firm is currently drilling [Relation] cause [Effect] no drop-off in productivity or capital efficiency is expected",
    "gold": "[Cause] at least two thirds of these locations offer comparable performance characteristics to what the firm is currently drilling [Relation] cause [Effect] no drop-off in productivity or capital efficiency is expected",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management's objective is to increase revenue to just under EUR 5.0 billion in 2021 but, this target will likely be revised lower owing to the COVID-19 outbreak.",
    "output": "[Cause] the COVID-19 outbreak [Relation] cause [Effect] this target will likely be revised lower",
    "gold": "[Cause]  the COVID-19 outbreak [Relation] cause [Effect]  this target will likely be revised lower",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Products have a high cost of failure in commercial aerospace, which may cause the company to lose business and create liabilities for the firm.",
    "output": "[Cause] Products have a high cost of failure in commercial aerospace [Relation] cause [Effect] the company to lose business and create liabilities for the firm",
    "gold": "[Cause] Products have a high cost of failure in commercial aerospace [Relation] cause [Effect] the company to lose business and create liabilities for the firm",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the sale, Marathon will no longer be a fully integrated refiner, but it is not a pure play refiner either as midstream operations, held largely through its MLP MPLX, comprise a greater share of earnings than refining.",
    "output": "[Cause] midstream operations, held largely through its MLP MPLX, comprise a greater share of earnings than refining [Relation] cause [Effect] Marathon will no longer be a fully integrated refiner, but it is not a pure play refiner either",
    "gold": "[Cause]  it is not a pure play refiner either [Relation] cause [Effect]  held largely through its MLP MPLX, comprise a greater share of earnings than refining",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Demand for Macau's gaming market is driven by China's increasing prosperity, as well as the region's improving infrastructure, which will enhance accessibility for visitors.",
    "output": "[Cause] China's increasing prosperity, as well as the region's improving infrastructure [Relation] enable [Effect] Demand for Macau's gaming market",
    "gold": "[Cause] China's increasing prosperity, as well as the region's improving infrastructure [Relation] enable [Effect] enhance accessibility for visitors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With a large share of many of its vendors' sales, Walmart's size allows it to dictate terms, enabling it to control procurement costs while ensuring its assortment is optimized for all channels.",
    "output": "[Cause] Walmart's size [Relation] enable [Effect] it to dictate terms",
    "gold": "[Cause] a large share of many of its vendors' sales [Relation] cause [Effect] Walmart's size allows it to dictate terms",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Lennar went from earning $8.23 per diluted share in fiscal 2005 to losing $12.31 per diluted share in fiscal 2007 as the collapsing housing market resulted in drastic margin compression and large impairment charges.",
    "output": "[Cause] the collapsing housing market resulted in drastic margin compression and large impairment charges [Relation] cause [Effect] Lennar went from earning $8.23 per diluted share in fiscal 2005 to losing $12.31 per diluted share in fiscal 2007",
    "gold": "[Cause] the collapsing housing market resulted in drastic margin compression and large impairment charges [Relation] cause [Effect] Lennar went from earning $8.23 per diluted share in fiscal 2005 to losing $12.31 per diluted share in fiscal 2007",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even though secularly challenged mainstream categories should continue to weigh disproportionately on the portfolio, we see increasing contributions from above-premium as the world returns to normal after the pandemic.",
    "output": "[Cause] the world returns to normal after the pandemic [Relation] cause [Effect] increasing contributions from above-premium",
    "gold": "[Cause] the world returns to normal after the pandemic [Relation] cause [Effect] increasing contributions from above-premium",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Danaher's tools enable the essential operations of its clients, and switching to a competitor's technology could change the outcome of those operations, which would be undesirable for users once Danaher's products are incorporated into their processes.",
    "output": "[Cause] Danaher's tools enable the essential operations of its clients, and switching to a competitor's technology could change the outcome of those operations [Relation] cause [Effect] undesirable for users once Danaher's products are incorporated into their processes",
    "gold": "[Cause] Danaher's tools enable the essential operations of its clients [Relation] cause [Effect] switching to a competitor's technology could change the outcome of those operations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "About $2 of the raise is due to lifting our long-term midcycle margin assumptions, $1 due to working capital improvements from productivity initiatives, while the remaining $2 is due to time value of money.",
    "output": "[Cause] lifting our long-term midcycle margin assumptions [Relation] cause [Effect] About $2 of the raise",
    "gold": "[Cause] lifting our long-term midcycle margin assumptions [Relation] enable [Effect] About $2 of the raise",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "About $2 of the raise is due to lifting our long-term midcycle margin assumptions, $1 due to working capital improvements from productivity initiatives, while the remaining $2 is due to time value of money.",
    "output": "[Cause] time value of money [Relation] cause [Effect] the remaining $2",
    "gold": "[Cause] working capital improvements from productivity initiatives [Relation] enable [Effect] $1 | raise",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "About $2 of the raise is due to lifting our long-term midcycle margin assumptions, $1 due to working capital improvements from productivity initiatives, while the remaining $2 is due to time value of money.",
    "output": "[Cause] time value of money [Relation] cause [Effect] the remaining $2",
    "gold": "[Cause] time value of money [Relation] enable [Effect] the remaining $2 | raise",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As potential and current fans, particularly younger ones, are becoming more environmentally conscious, the total impact may become a more serious issue that hinders the ability of Formula One to attract and retain its fans.",
    "output": "[Cause] potential and current fans, particularly younger ones, are becoming more environmentally conscious [Relation] cause [Effect] the total impact may become a more serious issue that hinders the ability of Formula One to attract and retain its fans",
    "gold": "[Cause] potential and current fans, particularly younger ones, are becoming more environmentally conscious [Relation] cause [Effect] the total impact may become a more serious issue that hinders the ability of Formula One to attract and retain its fans",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Hubbell also completed a bolt-on acquisition in the first quarter of 2018 that measures current in bushing transformers and can serve as a predictive maintenance tool before a bushing fails.",
    "output": "[Cause] Hubbell also completed a bolt-on acquisition in the first quarter of 2018 [Relation] enable [Effect] serve as a predictive maintenance tool before a bushing fails",
    "gold": "[Cause] Hubbell also completed a bolt-on acquisition in the first quarter of 2018 [Relation] enable [Effect] serve as a predictive maintenance tool before a bushing fails",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that Dropbox's limited success in converting their large user base to paid subscribers indicates the product offering does not create customer stickiness.",
    "output": "[Cause] Dropbox's limited success in converting their large user base to paid subscribers [Relation] cause [Effect] the product offering does not create customer stickiness",
    "gold": "[Cause]  Dropbox's limited success in converting their large user base to paid subscribers [Relation] cause [Effect] the product offering does not create customer stickiness",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We factor in 5% compound annual growth for the diagnostics segment during the next five years, as relatively high growth in its Cepheid molecular diagnostics is constrained by its more mature legacy brands.",
    "output": "[Cause] relatively high growth in its Cepheid molecular diagnostics is constrained by its more mature legacy brands [Relation] cause [Effect] We factor in 5% compound annual growth for the diagnostics segment during the next five years",
    "gold": "[Cause] relatively high growth in its Cepheid molecular diagnostics is constrained by its more mature legacy brands [Relation] cause [Effect] We factor in 5% compound annual growth for the diagnostics segment during the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Consequently, most expansion projects aren't economical at $55 per barrel of West Texas Intermediate and struggle to compete with other global supply sources.",
    "output": "[Cause] most expansion projects aren't economical at $55 per barrel of West Texas Intermediate [Relation] cause [Effect] struggle to compete with other global supply sources",
    "gold": "[Cause] most expansion projects aren't economical at $55 per barrel of West Texas Intermediate [Relation] enable [Effect] struggle to compete with other global supply sources",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Operating margins are set to contract by over 100 basis points versus 2020 as competition intensifies in Avery's two largest segments.",
    "output": "[Cause] competition intensifies in Avery's two largest segments [Relation] cause [Effect] Operating margins are set to contract by over 100 basis points versus 2020",
    "gold": "[Cause] competition intensifies in Avery's two largest segments [Relation] cause [Effect] Operating margins are set to contract by over 100 basis points versus 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To better service growing demand for its aerospace and energy product lines, the company invested over $500 million to construct a state-of-the-art manufacturing facility in Athens, Alabama that initiated production in 2014.",
    "output": "[Cause] the company invested over $500 million to construct a state-of-the-art manufacturing facility in Athens, Alabama [Relation] enable [Effect] better service growing demand for its aerospace and energy product lines",
    "gold": "[Cause] better service growing demand for its aerospace and energy product lines [Relation] cause [Effect] the company invested over $500 million to construct a state-of-the-art manufacturing facility in Athens, Alabama that initiated production",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These factors will result in increased construction equipment revenue for Caterpillar, leading us to forecast nearly 11% average sales growth over the next five years.",
    "output": "[Cause] increased construction equipment revenue for Caterpillar [Relation] cause [Effect] nearly 11% average sales growth over the next five years",
    "gold": "[Cause] These factors [Relation] cause [Effect]  increased construction equipment revenue for Caterpillar, | nearly 11% average sales growth over the next five years.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "TSMC's long-standing leadership in process advancement comes from its ability to correctly and consistently prioritize the right areas in which to innovate for nodes, while maintain fiscal discipline.",
    "output": "[Cause] its ability to correctly and consistently prioritize the right areas in which to innovate for nodes, while maintain fiscal discipline [Relation] enable [Effect] TSMC's long-standing leadership in process advancement",
    "gold": "[Cause]  its ability to correctly and consistently prioritize the right areas in which to innovate for nodes, while maintain fiscal discipline [Relation] cause [Effect] TSMC's long-standing leadership in process advancement",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, as Choo is best known for shoes and Versace for high fashion apparel, it may be difficult for either to compete against established handbag brands.",
    "output": "[Cause] Choo is best known for shoes and Versace for high fashion apparel [Relation] cause [Effect] it may be difficult for either to compete against established handbag brands",
    "gold": "[Cause] Choo is best known for shoes and Versace for high fashion apparel [Relation] cause [Effect] it may be difficult for either to compete against established handbag brands",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, because we do not anticipate the importance of aggregates in construction to diminish, transportation costs to fall, or new quarry permits to become easier to obtain, we think Martin Marietta's competitive advantage is sustainable for more than 10 years.",
    "output": "[Cause] we do not anticipate the importance of aggregates in construction to diminish, transportation costs to fall, or new quarry permits to become easier to obtain [Relation] cause [Effect] Martin Marietta's competitive advantage is sustainable for more than 10 years",
    "gold": "[Cause] we do not anticipate the importance of aggregates in construction to diminish, transportation costs to fall, or new quarry permits to become easier to obtain [Relation] enable [Effect]  Martin Marietta's competitive advantage is sustainable for more than 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This rebound pushed Echo's gross revenue up 15% for the year despite second-quarter declines, though falling gross margins (net revenue/gross revenue) from a spike in cost of capacity limited net revenue gains to only about 2%.",
    "output": "[Cause] This rebound [Relation] enable [Effect] Echo's gross revenue up 15% for the year",
    "gold": "[Cause] This rebound [Relation] cause [Effect] Echo's gross revenue up 15% for the year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Brand intangible assetsPotentially offsetting the challenge of generating economic profit from regulation intangibles, we think that the creation of brand intangibles would help cannabis companies pass the increased cost to consumers, thus protecting their own economic profit.",
    "output": "[Cause] Brand intangible assetsPotentially offsetting the challenge of generating economic profit from regulation intangibles [Relation] cause [Effect] the creation of brand intangibles would help cannabis companies pass the increased cost to consumers, thus protecting their own economic profit",
    "gold": "[Cause]  the creation of brand intangibles [Relation] enable [Effect] cannabis companies pass the increased cost to consumers, thus protecting their own economic profit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, it will still face operational challenges as it attempts to migrate certain aspects of Olive Garden's operational improvements to its other brands and continues to integrate Cheddar's in a post-coronavirus restaurant industry environment.",
    "output": "[Cause] it attempts to migrate certain aspects of Olive Garden's operational improvements to its other brands and continues to integrate Cheddar's in a post-coronavirus restaurant industry environment [Relation] cause [Effect] it will still face operational challenges",
    "gold": "[Cause]  it attempts to migrate certain aspects of Olive Garden's operational improvements to its other brands and continues to integrate Cheddar's in a post-coronavirus restaurant industry environment [Relation] cause [Effect] it will still face operational challenges",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast Canon's operating margin will drop to 2.4% in 2020 because of the pandemic, and recover to 6.3% in 2024, which is still lower than the previous level, because we are concerned about the margin contraction in the office and imaging system segments.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] Canon's operating margin will drop to 2.4% in 2020",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] Canon's operating margin will drop to 2.4% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect JD to continue to enhance sales through its omnichannel strategy, drive sales by providing merchandise to online platforms and retailers, penetrate into lower-tier cities, and broaden its variety of products.",
    "output": "[Cause] providing merchandise to online platforms and retailers [Relation] enable [Effect] JD to continue to enhance sales through its omnichannel strategy",
    "gold": "[Cause] its omnichannel strategy [Relation] enable [Effect] JD to continue to enhance sales",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect JD to continue to enhance sales through its omnichannel strategy, drive sales by providing merchandise to online platforms and retailers, penetrate into lower-tier cities, and broaden its variety of products.",
    "output": "[Cause] providing merchandise to online platforms and retailers [Relation] enable [Effect] drive sales",
    "gold": "[Cause] providing merchandise to online platforms and retailers [Relation] enable [Effect] drive sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Quest's size and cost advantage allows it to benefit from several secular trends, including the proliferation of diagnostic tests and greater clinical reliance on personalized therapies.",
    "output": "[Cause] Quest's size and cost advantage [Relation] enable [Effect] it to benefit from several secular trends, including the proliferation of diagnostic tests and greater clinical reliance on personalized therapies",
    "gold": "[Cause] Quest's size and cost advantage [Relation] enable [Effect] it to benefit from several secular trends, including the proliferation of diagnostic tests and greater clinical reliance on personalized therapies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect that ad revenue will rebound back to 2019 levels in 2021 as the lifting of COVID-19-related restrictions will spur ad spending across the globe.",
    "output": "[Cause] the lifting of COVID-19-related restrictions [Relation] cause [Effect] spur ad spending across the globe",
    "gold": "[Cause] the lifting of COVID-19-related restrictions [Relation] cause [Effect] spur ad spending across the globe",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect that ad revenue will rebound back to 2019 levels in 2021 as the lifting of COVID-19-related restrictions will spur ad spending across the globe.",
    "output": "[Cause] the lifting of COVID-19-related restrictions [Relation] cause [Effect] spur ad spending across the globe",
    "gold": "[Cause] spur ad spending across the globe [Relation] cause [Effect] ad revenue will rebound back to 2019 levels in 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In aerospace, we expect long-term growth from the replacement of G450s and G550s with G500 and G600s as well as the introduction of the G700.",
    "output": "[Cause] the replacement of G450s and G550s with G500 and G600s as well as the introduction of the G700 [Relation] enable [Effect] long-term growth",
    "gold": "[Cause] the replacement of G450s and G550s with G500 and G600s as well as the introduction of the G700 [Relation] enable [Effect] long-term growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It's unlikely that interest rates will return to pre-financial-crisis levels, and thus we expect MetLife to face this headwind for the foreseeable future.",
    "output": "[Cause] It's unlikely that interest rates will return to pre-financial-crisis levels [Relation] cause [Effect] MetLife to face this headwind for the foreseeable future",
    "gold": "[Cause] It's unlikely that interest rates will return to pre-financial-crisis levels [Relation] cause [Effect]  MetLife to face this headwind for the foreseeable future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In its regions, Compass estimates that shipping by water is about half the cost of rail and one fifth the cost of trucking, leading to a shipping cost advantage for wintry markets from Minnesota to western New York.",
    "output": "[Cause] shipping by water is about half the cost of rail and one fifth the cost of trucking [Relation] cause [Effect] a shipping cost advantage for wintry markets from Minnesota to western New York",
    "gold": "[Cause] shipping by water is about half the cost of rail and one fifth the cost of trucking [Relation] cause [Effect] a shipping cost advantage for wintry markets from Minnesota to western New York",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, the firm was a relatively late entrant to the shale arena and paid handsomely for its assets as a result (most notably in the Permian, where it has only been active since 2017).",
    "output": "[Cause] the firm was a relatively late entrant to the shale arena [Relation] cause [Effect] paid handsomely for its assets",
    "gold": "[Cause] the firm was a relatively late entrant to the shale arena [Relation] cause [Effect] paid handsomely for its assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are confident that Cushman &amp; Wakefield will be able to out earn its cost of capital over the next decade particularly because its product mix has become more contractual and less cyclical as compared with the previous downturn, due to an aggressive expansion into corporate outsourcing.",
    "output": "[Cause] an aggressive expansion into corporate outsourcing [Relation] cause [Effect] its product mix has become more contractual and less cyclical as compared with the previous downturn",
    "gold": "[Cause] an aggressive expansion into corporate outsourcing [Relation] cause [Effect] its product mix has become more contractual and less cyclical as compared with the previous downturn",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are confident that Cushman &amp; Wakefield will be able to out earn its cost of capital over the next decade particularly because its product mix has become more contractual and less cyclical as compared with the previous downturn, due to an aggressive expansion into corporate outsourcing.",
    "output": "[Cause] an aggressive expansion into corporate outsourcing [Relation] cause [Effect] its product mix has become more contractual and less cyclical as compared with the previous downturn",
    "gold": "[Cause] its product mix has become more contractual and less cyclical as compared with the previous downturn [Relation] cause [Effect] We are confident that Cushman &amp; Wakefield will be able to out earn its cost of capital over the next decade",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Due to forward-looking regulatory frameworks, the utility usually earns near the allowed return; however, the returns on invested capital are only marginally above our estimate of the company's cost of capital.",
    "output": "[Cause] forward-looking regulatory frameworks [Relation] cause [Effect] the utility usually earns near the allowed return",
    "gold": "[Cause]  forward-looking regulatory frameworks [Relation] enable [Effect] the utility usually earns near the allowed return",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also forecast ARPS to grow as Autodesk's base of subscribers matures after the initial boost of first-time Autodesk users brought about by the transition to a subscription model.",
    "output": "[Cause] the initial boost of first-time Autodesk users brought about by the transition to a subscription model [Relation] cause [Effect] ARPS to grow as Autodesk's base of subscribers matures",
    "gold": "[Cause] the initial boost of first-time Autodesk users brought about by the transition to a subscription model [Relation] enable [Effect] ARPS to grow as Autodesk's base of subscribers matures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Impala is brewed using cassava, a low-cost locally grown plant, but the scale and scope efficiencies from AB InBev's near dominance in the market is a significant contributor to its ability to offer product at such a low price point.",
    "output": "[Cause] the scale and scope efficiencies from AB InBev's near dominance in the market [Relation] enable [Effect] its ability to offer product at such a low price point",
    "gold": "[Cause] the scale and scope efficiencies from AB InBev's near dominance in the market [Relation] enable [Effect] its ability to offer product at such a low price point",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The ingenuity of this process is that the glass never touches another surface during its formation, greatly reducing surface imperfections, and the need for additional polishing.",
    "output": "[Cause] the glass never touches another surface during its formation [Relation] cause [Effect] greatly reducing surface imperfections",
    "gold": "[Cause] the glass never touches another surface during its formation [Relation] cause [Effect] the need for additional polishing",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the U.K., Vodafone provides primarily wireless services, as only BT, the incumbent telecom operator, owns both extensive fixed-line and wireless networks (following its acquisition of EE, the largest wireless operator, in 2016).",
    "output": "[Cause] only BT, the incumbent telecom operator, owns both extensive fixed-line and wireless networks [Relation] cause [Effect] Vodafone provides primarily wireless services",
    "gold": "[Cause] only BT, the incumbent telecom operator, owns both extensive fixed-line and wireless networks [Relation] cause [Effect] Vodafone provides primarily wireless services",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ultimately, we believe the value offered by its solutions and partnerships in Sensia and PTC, combined with inorganic opportunities, should allow the firm to remain a top player in the growing automation industry.",
    "output": "[Cause] the value offered by its solutions and partnerships in Sensia and PTC, combined with inorganic opportunities [Relation] enable [Effect] the firm to remain a top player in the growing automation industry",
    "gold": "[Cause] the value offered by its solutions and partnerships in Sensia and PTC, combined with inorganic opportunities [Relation] enable [Effect] the firm to remain a top player in the growing automation industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project 4% average sales growth over the next five years, supported by 4% average same-store sales increases and helped by offerings like buy online/pickup in store and better merchandising, which drives market share gains.",
    "output": "[Cause] 4% average same-store sales increases and helped by offerings like buy online/pickup in store and better merchandising [Relation] enable [Effect] 4% average sales growth over the next five years",
    "gold": "[Cause]  4% average same-store sales increases and helped by offerings like buy online/pickup in store and better merchandising [Relation] enable [Effect] 4% average sales growth over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We contend that as Internet usage grows and as Verisign is able to enact price increases on its .com and .net TLDs, the firm should enjoy healthy long-term growth.",
    "output": "[Cause] Internet usage grows [Relation] cause [Effect] the firm should enjoy healthy long-term growth",
    "gold": "[Cause] Internet usage grows [Relation] cause [Effect] the firm should enjoy healthy long-term growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The biggest risk to Paylocity is a potential hack or security breach due to the sensitive nature of the data to which it has access.",
    "output": "[Cause] the sensitive nature of the data to which it has access [Relation] cause [Effect] The biggest risk to Paylocity is a potential hack or security breach",
    "gold": "[Cause]  the sensitive nature of the data to which it has access [Relation] cause [Effect] The biggest risk to Paylocity is a potential hack or security breach",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, despite rapid small-cell revenue growth, which we project to average in the midteens over the next five years, slower-growing enterprise fiber sales will hold back the overall fiber segment's revenue growth.",
    "output": "[Cause] slower-growing enterprise fiber sales [Relation] prevent [Effect] the overall fiber segment's revenue growth",
    "gold": "[Cause] slower-growing enterprise fiber sales [Relation] prevent [Effect] the overall fiber segment's revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The shift to internally designed ARM-based chips in lieu of chips from Intel for Apple's Mac PCs should help improve Mac margins.",
    "output": "[Cause] The shift to internally designed ARM-based chips in lieu of chips from Intel for Apple's Mac PCs [Relation] enable [Effect] improve Mac margins",
    "gold": "[Cause] The shift to internally designed ARM-based chips in lieu of chips from Intel for Apple's Mac PCs [Relation] cause [Effect] improve Mac margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, with increased pressure on legal firms to deliver more for less and many firms electing to bring less complex legal functions in-house, productivity tools are becoming a requirement for successful practice management.",
    "output": "[Cause] increased pressure on legal firms to deliver more for less and many firms electing to bring less complex legal functions in-house [Relation] cause [Effect] productivity tools are becoming a requirement for successful practice management",
    "gold": "[Cause] increased pressure on legal firms to deliver more for less and many firms electing to bring less complex legal functions in-house [Relation] cause [Effect] productivity tools are becoming a requirement for successful practice management",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Wake surfing has been on the rise in recent years, since it's easier to learn and is lower-impact than more traditional water sports.",
    "output": "[Cause] it's easier to learn and is lower-impact than more traditional water sports [Relation] cause [Effect] Wake surfing has been on the rise in recent years",
    "gold": "[Cause] it's easier to learn and is lower-impact than more traditional water sports [Relation] enable [Effect] Wake surfing has been on the rise in recent years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, it will still face operational hurdles as it attempts to migrate certain aspects of Olive Garden's operational improvements to its other brands and continues to integrate Cheddar's in a post-coronavirus restaurant industry environment.",
    "output": "[Cause] it attempts to migrate certain aspects of Olive Garden's operational improvements to its other brands and continues to integrate Cheddar's in a post-coronavirus restaurant industry environment [Relation] cause [Effect] it will still face operational hurdles",
    "gold": "[Cause] it attempts to migrate certain aspects of Olive Garden's operational improvements to its other brands and continues to integrate Cheddar's in a post-coronavirus restaurant industry environment [Relation] cause [Effect] it will still face operational hurdles",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect that wide-body demand will recover more slowly from the COVID-19 downturn than narrow-body demand because wide-bodies are used for longer haul trips, which are unlikely to recover until a COVID-19 vaccine is distributed globally.",
    "output": "[Cause] wide-bodies are used for longer haul trips [Relation] cause [Effect] wide-body demand will recover more slowly from the COVID-19 downturn than narrow-body demand",
    "gold": "[Cause]  wide-bodies are used for longer haul trips [Relation] cause [Effect]  wide-body demand will recover more slowly from the COVID-19 downturn than narrow-body demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our storm loss estimates are partially offset by upside from regulatory and policy changes that might boost generation margins and reduce retail risk.",
    "output": "[Cause] regulatory and policy changes [Relation] prevent [Effect] Our storm loss estimates",
    "gold": "[Cause] Our storm loss estimates [Relation] enable [Effect] partially offset by upside from regulatory and policy changes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With the sale of Epsilon in 2019, Alliance Data Systems' private label credit card business is now responsible for more than 80% of its revenue.",
    "output": "[Cause] the sale of Epsilon in 2019 [Relation] cause [Effect] Alliance Data Systems' private label credit card business is now responsible for more than 80% of its revenue",
    "gold": "[Cause]  the sale of Epsilon in 2019 [Relation] enable [Effect] Alliance Data Systems' private label credit card business is now responsible for more than 80% of its revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Another key tenet of Ferguson's scale-driven cost advantage is its blended branch model and distribution network that allow Ferguson to cost-effectively serve its sprawling customer base that requires quick access to a large assortment of products.",
    "output": "[Cause] its blended branch model and distribution network [Relation] enable [Effect] Ferguson to cost-effectively serve its sprawling customer base",
    "gold": "[Cause] key tenet of Ferguson's scale-driven cost advantage is its blended branch model and distribution network [Relation] enable [Effect]  quick access to a large assortment of products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Growth is largely coming from GLP-1 therapies, which include daily Victoza, weekly Ozempic, and innovative daily oral Rybelsus; strong efficacy and cardiovascular benefits to treatment should lead the 2 Jun 2021 05:00, UTC$12 billion GLP-1 market to nearly double over the next 5 years.",
    "output": "[Cause] GLP-1 therapies [Relation] enable [Effect] Growth",
    "gold": "[Cause] GLP-1 therapies [Relation] enable [Effect] Growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Growth is largely coming from GLP-1 therapies, which include daily Victoza, weekly Ozempic, and innovative daily oral Rybelsus; strong efficacy and cardiovascular benefits to treatment should lead the 2 Jun 2021 05:00, UTC$12 billion GLP-1 market to nearly double over the next 5 years.",
    "output": "[Cause] strong efficacy and cardiovascular benefits to treatment [Relation] enable [Effect] the 2 Jun 2021 05:00, UTC$12 billion GLP-1 market to nearly double over the next 5 years",
    "gold": "[Cause] strong efficacy and cardiovascular benefits to treatment [Relation] enable [Effect] the 2 Jun 2021 05:00, UTC$12 billion GLP-1 market to nearly double over the next 5 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Alphabet is facing a decline in online ad spending due to the COVID-19 pandemic, we think the impact will be for only 12-18 months, after which the firm will again benefit from the growing online ad market.",
    "output": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] Alphabet is facing a decline in online ad spending",
    "gold": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] Alphabet is facing a decline in online ad spending",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, added regulation in recent years has meant that banks can't make many of the same loans they would have before the crisis.",
    "output": "[Cause] added regulation in recent years [Relation] cause [Effect] banks can't make many of the same loans they would have before the crisis",
    "gold": "[Cause] added regulation in recent years [Relation] prevent [Effect] banks can't make many of the same loans they would have before the crisis",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, we expect industrial markets to recover, which we think will boost freight demand for truck operators, leading to higher revenue for Cummins.",
    "output": "[Cause] industrial markets to recover [Relation] enable [Effect] boost freight demand for truck operators, leading to higher revenue for Cummins",
    "gold": "[Cause] industrial markets to recover, which we think will boost freight demand for truck operators [Relation] enable [Effect] higher revenue for Cummins.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think that the substantial scale that Collins has as one of the largest suppliers gives Raytheon technologies materially more negotiating leverage on pricing with the manufacturers than they would have independently.",
    "output": "[Cause] the substantial scale that Collins has as one of the largest suppliers [Relation] enable [Effect] Raytheon technologies materially more negotiating leverage on pricing with the manufacturers than they would have independently",
    "gold": "[Cause]  the substantial scale that Collins has as one of the largest suppliers [Relation] cause [Effect]  Raytheon technologies materially more negotiating leverage on pricing with the manufacturers than they would have independently",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In Europe, we believe Manpower will benefit from the continued long-term shift toward recruitment outsourcing by employers looking to become more flexible in their workforce headcount, with temporary payrolls making up a larger share of total nonfarm payrolls compared with U.S.",
    "output": "[Cause] employers looking to become more flexible in their workforce headcount, with temporary payrolls making up a larger share of total nonfarm payrolls compared with U.S [Relation] enable [Effect] Manpower will benefit from the continued long-term shift toward recruitment outsourcing",
    "gold": "[Cause] employers looking to become more flexible in their workforce headcount, with temporary payrolls making up a larger share of total nonfarm payrolls compared with U.S [Relation] enable [Effect]  Manpower will benefit from the continued long-term shift toward recruitment outsourcing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fuel costs are largely passed through to shippers in the form of surcharges, save for empty miles and idle time.",
    "output": "[Cause] fuel costs are largely passed through to shippers in the form of surcharges [Relation] cause [Effect] empty miles and idle time",
    "gold": "[Cause] in the form of surcharges [Relation] enable [Effect] Fuel costs are largely passed through to shippers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With nearly 30% of loans outstanding held abroad, the bank is in a unique position to benefit from growth in Latin American emerging-market growth.",
    "output": "[Cause] nearly 30% of loans outstanding held abroad [Relation] enable [Effect] the bank is in a unique position to benefit from growth in Latin American emerging-market growth",
    "gold": "[Cause] nearly 30% of loans outstanding held abroad [Relation] cause [Effect]  the bank is in a unique position to benefit from growth in Latin American emerging-market growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Deere faces little risk on this front, as the company continues to evolve the sustainability of its products and its impact on the environment.",
    "output": "[Cause] the company continues to evolve the sustainability of its products and its impact on the environment [Relation] cause [Effect] Deere faces little risk on this front",
    "gold": "[Cause] the company continues to evolve the sustainability of its products and its impact on the environment [Relation] cause [Effect] Deere faces little risk on this front",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This facilitates the production of high-strength, flat-rolled steel using only a fraction of the metallurgical coal required by its peers that operate blast furnaces. As a result, Steel Dynamics is able to leverage its highly efficient minimills to compete with blast furnace operators in end markets requiring high-strength steel at favorable per-unit operating costs.",
    "output": "[Cause] This facilitates the production of high-strength, flat-rolled steel using only a fraction of the metallurgical coal required by its peers that operate blast furnaces [Relation] cause [Effect] Steel Dynamics is able to leverage its highly efficient minimills to compete with blast furnace operators in end markets requiring high-strength steel at favorable per-unit operating costs",
    "gold": "[Cause] This facilitates the production of high-strength, flat-rolled steel using only a fraction of the metallurgical coal required by its peers that operate blast furnaces [Relation] cause [Effect] Steel Dynamics is able to leverage its highly efficient minimills to compete with blast furnace operators in end markets requiring high-strength steel at favorable per-unit operating costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A customer looking to switch away from Zebra would incur significant time investment from retraining employees, financial costs from running two systems simultaneously during the transition, and the opportunity cost of halted or slowed productivity as the new system's kinks are slowly worked out.",
    "output": "[Cause] the new system's kinks are slowly worked out [Relation] cause [Effect] the opportunity cost of halted or slowed productivity",
    "gold": "[Cause]  new system's kinks are slowly worked out. [Relation] cause [Effect] the opportunity cost of halted or slowed productivity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The pandemic pushed the hangover into early 2020, but freight demand has since surged off pandemic lows with help from heavy retailer inventory restocking driven by robust U.S.",
    "output": "[Cause] heavy retailer inventory restocking driven by robust U.S [Relation] enable [Effect] freight demand has since surged off pandemic lows",
    "gold": "[Cause] heavy retailer inventory restocking driven by robust U.S [Relation] cause [Effect] freight demand has since surged off pandemic lows",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect ad sales will remain lumpy, tied to election cycles, but that growth will be minimal over the coming years as the television business declines.",
    "output": "[Cause] the television business declines [Relation] cause [Effect] growth will be minimal over the coming years",
    "gold": "[Cause] the television business declines [Relation] cause [Effect] growth will be minimal over the coming years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Attempts to fill capacity by competing for existing contracts would prove challenging, as staggered multiyear supply contracts reduce the volume of production open to competition in any given year.",
    "output": "[Cause] staggered multiyear supply contracts reduce the volume of production open to competition in any given year [Relation] cause [Effect] Attempts to fill capacity by competing for existing contracts would prove challenging",
    "gold": "[Cause] staggered multiyear supply contracts [Relation] prevent [Effect] the volume of production open to competition in any given year",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For every additional point of data collected, the company's marketing algorithm should get smarter, more accurately predicting future purchasing patterns and boosting the efficiency of the overall marketing platform.",
    "output": "[Cause] every additional point of data collected [Relation] cause [Effect] the company's marketing algorithm should get smarter, more accurately predicting future purchasing patterns and boosting the efficiency of the overall marketing platform",
    "gold": "[Cause]  every additional point of data collected [Relation] enable [Effect] the company's marketing algorithm should get smarter, more accurately predicting future purchasing patterns and boosting the efficiency of the overall marketing platform",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project that net charge-offs will be roughly 0.8% through the cycle, and while we see elevated charge-offs in 2021 we see provisioning falling dramatically as we forecast material reserve releases.",
    "output": "[Cause] we forecast material reserve releases [Relation] cause [Effect] provisioning falling dramatically",
    "gold": "[Cause] we forecast material reserve releases [Relation] cause [Effect] provisioning falling dramatically",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even so, we think Smucker will be one of the few packaged food companies to realize lasting benefits from the pandemic, given the high-single-digit increase in pets adopted during the crisis, and the likelihood that more flexible work arrangements should result in higher consumption of at-home coffee.",
    "output": "[Cause] more flexible work arrangements [Relation] cause [Effect] higher consumption of at-home coffee",
    "gold": "[Cause] more flexible work arrangements [Relation] cause [Effect] higher consumption of at-home coffee",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the Affordable Care Act's mandate, which encourages coordinated, value-based care between healthcare providers and a shift of patients to the types of lower-cost, consolidated settings that medical office buildings can provide, we believe there will be increasing demand for these types of assets from customers and healthcare partners.",
    "output": "[Cause] the Affordable Care Act's mandate, which encourages coordinated, value-based care between healthcare providers and a shift of patients to the types of lower-cost, consolidated settings that medical office buildings can provide [Relation] cause [Effect] increasing demand for these types of assets from customers and healthcare partners",
    "gold": "[Cause] the Affordable Care Act's mandate, which encourages coordinated, value-based care between healthcare providers and a shift of patients to the types of lower-cost, consolidated settings that medical office buildings can provide [Relation] cause [Effect] increasing demand for these types of assets from customers and healthcare partners",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even as much of the downside risk is mitigated by sufficiently contracted capacity, failure of NGL demand to materialize would cap Enterprise's earnings upside.",
    "output": "[Cause] sufficiently contracted capacity [Relation] prevent [Effect] much of the downside risk",
    "gold": "[Cause] failure of NGL demand to materialize [Relation] prevent [Effect] Enterprise's earnings upside",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Even as much of the downside risk is mitigated by sufficiently contracted capacity, failure of NGL demand to materialize would cap Enterprise's earnings upside.",
    "output": "[Cause] failure of NGL demand to materialize [Relation] prevent [Effect] Enterprise's earnings upside",
    "gold": "[Cause] sufficiently contracted capacity [Relation] prevent [Effect] the downside risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, the spread between power prices and natural gas prices in the Northeast will still cause some risk and uncertainty.",
    "output": "[Cause] the spread between power prices and natural gas prices in the Northeast [Relation] cause [Effect] some risk and uncertainty",
    "gold": "[Cause]  the spread between power prices and natural gas prices in the Northeast [Relation] cause [Effect] some risk and uncertainty",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Vertex to maintain its dominant position in CF, given the strong efficacy of its therapies, lengthy patents, and lack of competition, while developing pipeline candidates in other rare indications to spur growth.",
    "output": "[Cause] the strong efficacy of its therapies, lengthy patents, and lack of competition [Relation] cause [Effect] Vertex to maintain its dominant position in CF",
    "gold": "[Cause]  the strong efficacy of its therapies, lengthy patents, and lack of competition [Relation] cause [Effect] Vertex to maintain its dominant position in CF",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Vertex to maintain its dominant position in CF, given the strong efficacy of its therapies, lengthy patents, and lack of competition, while developing pipeline candidates in other rare indications to spur growth.",
    "output": "[Cause] developing pipeline candidates in other rare indications [Relation] enable [Effect] spur growth",
    "gold": "[Cause]  the strong efficacy of its therapies, lengthy patents, and lack of competition [Relation] cause [Effect] developing pipeline candidates in other rare indications to spur growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Fewer assets and longer trains drive up network fluidity, resulting in labor productivity gains, better service levels, and higher potential incremental operating margins.",
    "output": "[Cause] Fewer assets and longer trains [Relation] cause [Effect] network fluidity",
    "gold": "[Cause] Fewer assets and longer trains [Relation] enable [Effect]  network fluidity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A higher downtime could be critical in big buildings such as office buildings, where long queues could be formed disrupting day-to-day activities, as well as in residential buildings.",
    "output": "[Cause] long queues could be formed disrupting day-to-day activities, as well as in residential buildings [Relation] cause [Effect] A higher downtime could be critical in big buildings such as office buildings",
    "gold": "[Cause] A higher downtime [Relation] cause [Effect] long queues could be formed disrupting day-to-day activities, as well as in residential buildings",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our margin forecast is based on price increases offsetting cost inflation and higher volume providing leverage over fixed costs (mostly sales and general administrative costs).",
    "output": "[Cause] price increases offsetting cost inflation and higher volume [Relation] enable [Effect] leverage over fixed costs (most sales and general administrative costs)",
    "gold": "[Cause] Our margin forecast is based on price increases offsetting cost inflation and higher volume providing leverage [Relation] cause [Effect]  fixed costs (mostly sales and general administrative costs)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Vale's cost disadvantage relative to the Australian majors stems primarily from the additional cost of shipping iron ore to China from Brazil versus Western Australia for Rio Tinto and BHP.",
    "output": "[Cause] the additional cost of shipping iron ore to China from Brazil versus Western Australia for Rio Tinto and BHP [Relation] cause [Effect] Vale's cost disadvantage relative to the Australian majors",
    "gold": "[Cause] the additional cost of shipping iron ore to China from Brazil versus Western Australia for Rio Tinto and BHP [Relation] cause [Effect] Vale's cost disadvantage relative to the Australian majors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These AI-powered menus are highly tailored to individual preferences (that is, those who tried to eat healthy will see soup and salad as first options on menu), so they reduce the time people spent ordering, elevating the overall restaurant experience.",
    "output": "[Cause] These AI-powered menus are highly tailored to individual preferences [Relation] enable [Effect] elevating the overall restaurant experience",
    "gold": "[Cause] highly tailored to individual preferences [Relation] enable [Effect] reduce the time people spent ordering",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As this age cohort gets older and checks off more of these milestones, it will increasingly consider living in a single-family home in the suburbs, creating more demand for Invitation Homes' portfolio.",
    "output": "[Cause] this age cohort gets older and checks off more of these milestones [Relation] cause [Effect] increasingly consider living in a single-family home in the suburbs",
    "gold": "[Cause]  this age cohort gets older and checks off more of these milestones [Relation] cause [Effect] increasingly consider living in a single-family home in the suburbs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As this age cohort gets older and checks off more of these milestones, it will increasingly consider living in a single-family home in the suburbs, creating more demand for Invitation Homes' portfolio.",
    "output": "[Cause] increasingly consider living in a single-family home in the suburbs [Relation] cause [Effect] more demand for Invitation Homes' portfolio",
    "gold": "[Cause] increasingly consider living in a single-family home in the suburbs [Relation] cause [Effect] more demand for Invitation Homes' portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that as one of the larger industrial distributors in North America, Fastenal benefits from scale-driven cost advantages over smaller competitors.",
    "output": "[Cause] as one of the larger industrial distributors in North America [Relation] enable [Effect] Fastenal benefits from scale-driven cost advantages over smaller competitors",
    "gold": "[Cause] as one of the larger industrial distributors in North America [Relation] enable [Effect] Fastenal benefits from scale-driven cost advantages over smaller competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "LPL needed to convince NPH's advisors to move to LPL following the acquisition, since advisors are generally able to select their broker/dealer affiliation at will.",
    "output": "[Cause] advisors are generally able to select their broker/dealer affiliation at will [Relation] cause [Effect] LPL needed to convince NPH's advisors to move to LPL following the acquisition",
    "gold": "[Cause] advisors are generally able to select their broker/dealer affiliation at will [Relation] cause [Effect] LPL needed to convince NPH's advisors to move to LPL following the acquisition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we see the potential for positive changes as well, including increasing tax credits for the individual exchanges and further Medicaid expansion, which could benefit Centene directly if enacted.",
    "output": "[Cause] the potential for positive changes as well, including increasing tax credits for the individual exchanges and further Medicaid expansion [Relation] enable [Effect] benefit Centene directly if enacted",
    "gold": "[Cause] the potential for positive changes as well, including increasing tax credits for the individual exchanges and further Medicaid expansion [Relation] enable [Effect]  benefit Centene directly if enacted",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we expect profitability to gradually pick up pace as we come out of the pandemic, we do not foresee profitability reaching peer-like levels (18%-20%), as Danone's category exposure is less advantaged.",
    "output": "[Cause] we come out of the pandemic [Relation] cause [Effect] profitability to gradually pick up pace",
    "gold": "[Cause] we come out of the pandemic [Relation] enable [Effect] profitability to gradually pick up pace",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we expect profitability to gradually pick up pace as we come out of the pandemic, we do not foresee profitability reaching peer-like levels (18%-20%), as Danone's category exposure is less advantaged.",
    "output": "[Cause] Danone's category exposure is less advantaged [Relation] cause [Effect] profitability reaching peer-like levels (18%-20%)",
    "gold": "[Cause] Danone's category exposure is less advantaged [Relation] cause [Effect]  profitability reaching peer-like levels (18%-20%)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Indeed, if companies like Coca-Cola, PepsiCo, and Keurig Dr Pepper were to reduce their relative ad spending to National Beverage's historical averages, the absolute dollar amount would still dwarf anything the latter could feasibly deploy. This impacts LaCroix's ability to defend its turf at retail and is perhaps best illustrated by National Beverage's 2018 contretemps with Whole Foods, an episode that will live in infamy.",
    "output": "[Cause] companies like Coca-Cola, PepsiCo, and Keurig Dr Pepper were to reduce their relative ad spending to National Beverage's historical averages, the absolute dollar amount would still dwarf anything the latter could feasibly deploy [Relation] cause [Effect] impacts LaCroix's ability to defend its turf at retail and is perhaps best illustrated by National Beverage's 2018 contretemps with Whole Foods, an episode that will live in infamy",
    "gold": "[Cause] companies like Coca-Cola, PepsiCo, and Keurig Dr Pepper were to reduce their relative ad spending to National Beverage's historical averages, the absolute dollar amount would still dwarf anything the latter could feasibly deploy [Relation] cause [Effect]  impacts LaCroix's ability to defend its turf at retail and is perhaps best illustrated by National Beverage's 2018 contretemps with Whole Foods, an episode that will live in infamy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our outlook for Appalachian production growth over the long run likely will erode any existing competitive advantages due to lower capital intensity, less regulatory oversight, and the construction of competing midstream assets.",
    "output": "[Cause] lower capital intensity, less regulatory oversight, and the construction of competing midstream assets [Relation] cause [Effect] Our outlook for Appalachian production growth over the long run likely will erode any existing competitive advantages",
    "gold": "[Cause] lower capital intensity, less regulatory oversight, and the construction of competing midstream assets [Relation] enable [Effect] Our outlook for Appalachian production growth over the long run likely will erode any existing competitive advantages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the pandemic hit its revenue, we believe the automotive lineup will remain especially attractive long-term, particularly as IHS Markit's balanced exposure to the new- and used-vehicle markets should result in steady performance.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] its revenue",
    "gold": "[Cause]  IHS Markit's balanced exposure to the new- and used-vehicle markets [Relation] cause [Effect] steady performance",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although the pandemic hit its revenue, we believe the automotive lineup will remain especially attractive long-term, particularly as IHS Markit's balanced exposure to the new- and used-vehicle markets should result in steady performance.",
    "output": "[Cause] IHS Markit's balanced exposure to the new- and used-vehicle markets [Relation] cause [Effect] steady performance",
    "gold": "[Cause] IHS Markit's balanced exposure to the new- and used-vehicle markets should result in steady performance [Relation] cause [Effect] the automotive lineup will remain especially attractive long-term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Arrow's customers benefit from the firm's broad product line by simplifying their design and procurement process by going through one distributor with ancillary services, rather than several vendors.",
    "output": "[Cause] simplifying their design and procurement process by going through one distributor with ancillary services, rather than several vendors [Relation] enable [Effect] Arrow's customers benefit from the firm's broad product line",
    "gold": "[Cause] simplifying their design and procurement process by going through one distributor with ancillary services, rather than several vendors [Relation] cause [Effect] Arrow's customers benefit from the firm's broad product line",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These systems are used for over 1.2 million surgeries per year on an installed base of approximately 5,900 systems, giving Teleflex a locked-in source of customer stickiness.",
    "output": "[Cause] These systems are used for over 1.2 million surgeries per year on an installed base of approximately 5,900 systems [Relation] enable [Effect] Teleflex a locked-in source of customer stickiness",
    "gold": "[Cause] These systems are used for over 1.2 million surgeries per year on an installed base of approximately 5,900 systems [Relation] enable [Effect]  Teleflex a locked-in source of customer stickiness",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The long, expensive and capital-intensive process of designing and manufacturing an aircraft is a second major barrier to entry into the commercial aviation manufacturing business.",
    "output": "[Cause] The long, expensive and capital-intensive process of designing and manufacturing an aircraft [Relation] prevent [Effect] entry into the commercial aviation manufacturing business",
    "gold": "[Cause] The long, expensive and capital-intensive process of designing and manufacturing an aircraft [Relation] prevent [Effect] entry into the commercial aviation manufacturing business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Travelers are drawn to Wyndham's loyalty program, as it provides the ability to use and accumulate points across over 796,000 hotel rooms and over 20,000 Wyndham timeshare and rentals (the most of any hotelier; Accor is number two with around 10,000 vacation rental rooms).",
    "output": "[Cause] it provides the ability to use and accumulate points across over 796,000 hotel rooms and over 20,000 Wyndham timeshare and rentals [Relation] cause [Effect] Travelers are drawn to Wyndham's loyalty program",
    "gold": "[Cause] it provides the ability to use and accumulate points across over 796,000 hotel rooms and over 20,000 Wyndham timeshare and rentals [Relation] cause [Effect] Travelers are drawn to Wyndham's loyalty program",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since brokers are primarily compensated via commission that varies with productivity, it is likewise important for ambitious employees to work for firms with a strong reputation and a deep network in their desired market.  This dynamic has created a virtuous cycle for Cushman &amp; Wakefield, allowing it to simultaneously retain top talent and poach employees from its competitors.",
    "output": "[Cause] Since brokers are primarily compensated via commission that varies with productivity, it is likewise important for ambitious employees to work for firms with a strong reputation and a deep network in their desired market [Relation] cause [Effect] created a virtuous cycle for Cushman &amp; Wakefield, allowing it to simultaneously retain top talent and poach employees from its competitors",
    "gold": "[Cause] Since brokers are primarily compensated via commission that varies with productivity, it is likewise important for ambitious employees to work for firms with a strong reputation and a deep network in their desired market [Relation] cause [Effect] created a virtuous cycle for Cushman &amp; Wakefield, allowing it to simultaneously retain top talent and poach employees from its competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Competition in the export markets for Posco could also be heightened if Chinese producers continue to dump steel products globally.",
    "output": "[Cause] Chinese producers continue to dump steel products globally [Relation] cause [Effect] Competition in the export markets for Posco could also be heightened",
    "gold": "[Cause] Chinese producers continue to dump steel products globally [Relation] cause [Effect] Competition in the export markets for Posco could also be heightened",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Excess inventory on hand and duplication of IT costs, which were a byproduct of the previous ONE Kingfisher strategy, are clear self-help opportunities that will help Kingfisher boost its cash flow despite competitive and macroeconomic pressures.",
    "output": "[Cause] Excess inventory on hand and duplication of IT costs, which were a byproduct of the previous ONE Kingfisher strategy [Relation] enable [Effect] Kingfisher boost its cash flow despite competitive and macroeconomic pressures",
    "gold": "[Cause] Excess inventory on hand and duplication of IT costs, which were a byproduct of the previous ONE Kingfisher strategy [Relation] enable [Effect] Kingfisher boost its cash flow despite competitive and macroeconomic pressures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the past several years, the company has taken steps such as adjusting its business mix and implementing hedge activities to decrease earnings sensitivity but hedging can be costly and add additional risks.",
    "output": "[Cause] hedging can be costly and add additional risks [Relation] cause [Effect] the company has taken steps such as adjusting its business mix and implementing hedge activities to decrease earnings sensitivity",
    "gold": "[Cause] the company has taken steps such as adjusting its business mix and implementing hedge activities [Relation] cause [Effect] decrease earnings sensitivity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Treehouse relies on Walmart's patronage and also does not transact directly with end-consumers. Therefore, for many of the firm's product lines, it is reasonable to argue that the capacity to generate economic rents is heavily contingent on the ability to take a portion of theoretical producer surplus away from Walmart.",
    "output": "[Cause] Treehouse relies on Walmart's patronage and also does not transact directly with end-consumers [Relation] cause [Effect] for many of the firm's product lines, it is reasonable to argue that the capacity to generate economic rents is heavily contingent on the ability to take a portion of theoretical producer surplus away from Walmart",
    "gold": "[Cause] Treehouse relies on Walmart's patronage and also does not transact directly with end-consumers [Relation] cause [Effect] for many of the firm's product lines, it is reasonable to argue that the capacity to generate economic rents is heavily contingent on the ability to take a portion of theoretical producer surplus away from Walmart",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, convenient operation and growing prominence of workplace safety will continue to aid the growth of the automotive lifts market.",
    "output": "[Cause] convenient operation and growing prominence of workplace safety [Relation] enable [Effect] aid the growth of the automotive lifts market",
    "gold": "[Cause]  convenient operation and growing prominence of workplace safety [Relation] enable [Effect]  aid the growth of the automotive lifts market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we think Telefonica is less exposed to competitive pressures due to its broad network infrastructure based on fiber and the firm's investment in content.",
    "output": "[Cause] its broad network infrastructure based on fiber and the firm's investment in content [Relation] cause [Effect] Telefonica is less exposed to competitive pressures",
    "gold": "[Cause] its broad network infrastructure based on fiber and the firm's investment in content [Relation] cause [Effect] Telefonica is less exposed to competitive pressures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, global travel has changed as a result of COVID-19, leading to longer-term secular shifts in consumer behavior, challenging the economic performance of Carnival over an extended horizon.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] global travel has changed",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect]  global travel has changed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "CoreSite has more than 450 network service providers connecting to its data centers, which makes the data centers valuable as locations for the network providers to exchange traffic with each other and for enterprises that use those network providers to carry their own data.",
    "output": "[Cause] CoreSite has more than 450 network service providers connecting to its data centers [Relation] enable [Effect] the data centers valuable as locations for the network providers to exchange traffic with each other and for enterprises that use those network providers to carry their own data",
    "gold": "[Cause] CoreSite has more than 450 network service providers connecting to its data centers [Relation] enable [Effect] the data centers valuable as locations for the network providers to exchange traffic with each other and for enterprises that use those network providers to carry their own data",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This makes sense because a home sale generally represents one of the largest transactions most consumers will engage in, meaning they are likelier to be more diligent and discerning regarding the process.",
    "output": "[Cause] a home sale generally represents one of the largest transactions most consumers will engage in [Relation] cause [Effect] they are likelier to be more diligent and discerning regarding the process",
    "gold": "[Cause] a home sale generally represents one of the largest transactions most consumers will engage in [Relation] cause [Effect] they are likelier to be more diligent and discerning regarding the process",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The utility must maintain political and regulatory support for infrastructure replacement, clean energy, energy efficiency, and other network upgrades to grow earnings.",
    "output": "[Cause] maintain political and regulatory support for infrastructure replacement, clean energy, energy efficiency, and other network upgrades [Relation] enable [Effect] grow earnings",
    "gold": "[Cause] The utility must maintain political and regulatory support for infrastructure replacement, clean energy, energy efficiency [Relation] enable [Effect] other network upgrades to grow earnings",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Ultimately, though, we believe this benefit will wane as vaccination efforts take hold and that there is potential for the pandemic to restart the pricing cycle at a less attractive point.",
    "output": "[Cause] vaccination efforts take hold [Relation] cause [Effect] benefit will wane",
    "gold": "[Cause] vaccination efforts take hold [Relation] cause [Effect] benefit will wane",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In ATVs, competitors like Honda and Deere are formidable players, while Indian has to compete with motorcycle manufacturing giants Honda and Harley-Davidson.",
    "output": "[Cause] Indian has to compete with motorcycle manufacturing giants Honda and Harley-Davidson [Relation] cause [Effect] competitors like Honda and Deere are formidable players",
    "gold": "[Cause] Indian has to compete with motorcycle manufacturing giants Honda and Harley-Davidson [Relation] cause [Effect] competitors like Honda and Deere are formidable players",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ConocoPhillips operates in offshore environments and the Alaskan arctic and is exposed to the risk of large oil spills that could result material losses through fines or penalties, loss of license to operate or lost revenue.",
    "output": "[Cause] ConocoPhillips operates in offshore environments and the Alaskan arctic and is exposed to the risk of large oil spills [Relation] cause [Effect] material losses through fines or penalties, loss of license to operate or lost revenue",
    "gold": "[Cause] ConocoPhillips operates in offshore environments and the Alaskan arctic and is exposed to the risk of large oil spills [Relation] cause [Effect] material losses through fines or penalties, loss of license to operate or lost revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These master leases generally prevent tenants from dropping poorer-performing properties, as lease renewals are ''all or none,'' and promote strong partnerships between Healthpeak and its various operators, making triple-net business relatively sticky.",
    "output": "[Cause] lease renewals are ''all or none,'' and promote strong partnerships between Healthpeak and its various operators [Relation] cause [Effect] making triple-net business relatively sticky",
    "gold": "[Cause] lease renewals are ''all or none,'' and promote strong partnerships between Healthpeak and its various operators, making triple-net business relatively sticky [Relation] cause [Effect] These master leases generally prevent tenants from dropping poorer-performing properties",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With Nvidia in the process of acquiring ARM, we note there is heightened risk that more ARM-based CPUs will threaten Intel's x86 CPU hegemony in the data center.",
    "output": "[Cause] Nvidia in the process of acquiring ARM [Relation] cause [Effect] there is heightened risk that more ARM-based CPUs will threaten Intel's x86 CPU hegemony in the data center",
    "gold": "[Cause] heightened risk that more ARM-based CPUs [Relation] prevent [Effect] Intel's x86 CPU hegemony in the data center",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the firm is expected to produce revenue growth at the high end of peers and the premium may be justified, higher absolute valuation levels offer less room for missteps and therefore carry greater inherent risks.",
    "output": "[Cause] higher absolute valuation levels [Relation] cause [Effect] less room for missteps",
    "gold": "[Cause] higher absolute valuation levels [Relation] cause [Effect] less room for missteps",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the firm is expected to produce revenue growth at the high end of peers and the premium may be justified, higher absolute valuation levels offer less room for missteps and therefore carry greater inherent risks.",
    "output": "[Cause] higher absolute valuation levels [Relation] cause [Effect] less room for missteps",
    "gold": "[Cause] less room for missteps [Relation] cause [Effect] carry greater inherent risks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While Pebblebrook has done a good job in 2018 of containing costs, the lack of rate growth has led to lackluster margin growth and thus low NOI growth.",
    "output": "[Cause] lackluster margin growth [Relation] cause [Effect] low NOI growth",
    "gold": "[Cause] the lack of rate growth [Relation] cause [Effect] lackluster margin growth and thus low NOI growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We project that such costs will keep Snap in the red in the near-term, but ongoing revenue growth and gross margin expansion, will lead to operating leverage and help Snap become profitable in 2023, with further expansion thereafter.",
    "output": "[Cause] ongoing revenue growth and gross margin expansion [Relation] cause [Effect] operating leverage",
    "gold": "[Cause] such costs [Relation] cause [Effect] keep Snap in the red in the near-term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We project that such costs will keep Snap in the red in the near-term, but ongoing revenue growth and gross margin expansion, will lead to operating leverage and help Snap become profitable in 2023, with further expansion thereafter.",
    "output": "[Cause] ongoing revenue growth and gross margin expansion [Relation] cause [Effect] operating leverage and help Snap become profitable in 2023, with further expansion thereafter",
    "gold": "[Cause] ongoing revenue growth and gross margin expansion [Relation] enable [Effect] operating leverage and help Snap become profitable in 2023, with further expansion thereafter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Steris' ability to selectively expand its plant footprint will be an important determinant of returns, since expanding too quickly could result in underutilized plants compressing margins for the business.",
    "output": "[Cause] expanding too quickly could result in underutilized plants compressing margins for the business [Relation] cause [Effect] Steris' ability to selectively expand its plant footprint will be an important determinant of returns",
    "gold": "[Cause] expanding too quickly [Relation] cause [Effect] underutilized plants compressing margins for the business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Penney is trying to emerge from bankruptcy and may have to close hundreds of stores over the next few years.",
    "output": "[Cause] Penney is trying to emerge from bankruptcy [Relation] cause [Effect] may have to close hundreds of stores over the next few years",
    "gold": "[Cause] Penney is trying to emerge from bankruptcy [Relation] cause [Effect] may have to close hundreds of stores over the next few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we continue to expect strong growth during the next couple of years due to the ongoing COVID-19 crisis, we also assume Qiagen's growth rate returns to more normalized levels, eventually.",
    "output": "[Cause] the ongoing COVID-19 crisis [Relation] cause [Effect] strong growth during the next couple of years",
    "gold": "[Cause] the ongoing COVID-19 crisis [Relation] cause [Effect]  strong growth during the next couple of years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "GeneSight has the potential to drive market traction, as it is one of the few products in the pharmacogenomic testing space that has demonstrated some benefit to patients (explained below).",
    "output": "[Cause] it is one of the few products in the pharmacogenomic testing space that has demonstrated some benefit to patients [Relation] cause [Effect] GeneSight has the potential to drive market traction",
    "gold": "[Cause] it is one of the few products in the pharmacogenomic testing space that has demonstrated some benefit to patients [Relation] cause [Effect] GeneSight has the potential to drive market traction",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sysco is reinforcing its cost advantage during the crisis by permanently removing $350 million in annual costs, which should hasten its return to prepandemic profit margins.",
    "output": "[Cause] permanently removing $350 million in annual costs [Relation] enable [Effect] Sysco is reinforcing its cost advantage during the crisis",
    "gold": "[Cause] permanently removing $350 million in annual costs [Relation] enable [Effect] Sysco is reinforcing its cost advantage during the crisis",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sysco is reinforcing its cost advantage during the crisis by permanently removing $350 million in annual costs, which should hasten its return to prepandemic profit margins.",
    "output": "[Cause] permanently removing $350 million in annual costs [Relation] enable [Effect] Sysco is reinforcing its cost advantage during the crisis",
    "gold": "[Cause] permanently removing $350 million in annual costs [Relation] enable [Effect] hasten its return to prepandemic profit margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, we think modest switching costs exist with the Emerson's tools for two reasons: 1) RIDGID works with fitting companies for specific plumbing applications, and 2) Emerson providers contractors technical training on its tools, which we think contributes to the brand's high NPS.",
    "output": "[Cause] 1) RIDGID works with fitting companies for specific plumbing applications, and 2) Emerson providers contractors technical training on its tools [Relation] cause [Effect] modest switching costs exist with the Emerson's tools",
    "gold": "[Cause] 1) RIDGID works with fitting companies for specific plumbing applications, and 2) Emerson providers contractors technical training on its tools [Relation] cause [Effect] modest switching costs exist with the Emerson's tools",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Operating margins will see a similar roller coaster, as the additional ad revenue in even years will cause margins to spike, while lower revenue in odd years will cause them to fall.",
    "output": "[Cause] the additional ad revenue in even years [Relation] cause [Effect] margins to spike",
    "gold": "[Cause] the additional ad revenue in even years [Relation] cause [Effect] margins to spike",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Operating margins will see a similar roller coaster, as the additional ad revenue in even years will cause margins to spike, while lower revenue in odd years will cause them to fall.",
    "output": "[Cause] lower revenue in odd years [Relation] cause [Effect] them to fall",
    "gold": "[Cause]  lower revenue in odd years [Relation] cause [Effect] them to fall",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The installed base and consumables model also leads to high customer switching costs, as clients are generally reluctant to switch out equipment and retrain staff.",
    "output": "[Cause] clients are generally reluctant to switch out equipment and retrain staff [Relation] cause [Effect] The installed base and consumables model also leads to high customer switching costs",
    "gold": "[Cause] The installed base and consumables model [Relation] cause [Effect] high customer switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also feel that research and development expenditures, which already trail heavy-equipment levels of 4%-5%, will creep upward from 1.6% of revenue in 2020 to 1.9% of revenue in 2025 due to various competitive pressures and customer demands for advanced technology.",
    "output": "[Cause] various competitive pressures and customer demands for advanced technology [Relation] cause [Effect] research and development expenditures, which already trail heavy-equipment levels of 4%-5%, will creep upward from 1.6% of revenue in 2020 to 1.9% of revenue in 2025",
    "gold": "[Cause] various competitive pressures and customer demands for advanced technology [Relation] cause [Effect] research and development expenditures, which already trail heavy-equipment levels of 4%-5%, will creep upward from 1.6% of revenue in 2020 to 1.9% of revenue in 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Longer term, efforts focused on elevating key brands (Barbie, Hot Wheels), winning new licenses, and increasing supply chain speed (faster to market) could support sales and market share growth at Mattel.",
    "output": "[Cause] efforts focused on elevating key brands (Barbie, Hot Wheels), winning new licenses, and increasing supply chain speed (faster to market) [Relation] enable [Effect] support sales and market share growth at Mattel",
    "gold": "[Cause] efforts focused on elevating key brands (Barbie, Hot Wheels), winning new licenses, and increasing supply chain speed (faster to market) [Relation] enable [Effect] support sales and market share growth at Mattel",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the non-GAAP operating margin to reach 5.9% in 2030 from 2.1% in 2020, due to its increasing bargaining power with suppliers, declining fulfillment cost/sales ratio, and operating leverage.",
    "output": "[Cause] its increasing bargaining power with suppliers, declining fulfillment cost/sales ratio, and operating leverage [Relation] cause [Effect] the non-GAAP operating margin to reach 5.9% in 2030 from 2.1% in 2020",
    "gold": "[Cause]  its increasing bargaining power with suppliers, declining fulfillment cost/sales ratio, and operating leverage [Relation] cause [Effect]  the non-GAAP operating margin to reach 5.9% in 2030 from 2.1% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a significant percentage of new construction estimated to be speculative, it appears banks and companies are willing to finance projects without any tenant commitment before breaking ground.",
    "output": "[Cause] a significant percentage of new construction estimated to be speculative [Relation] cause [Effect] banks and companies are willing to finance projects without any tenant commitment before breaking ground",
    "gold": "[Cause] banks and companies are willing to finance projects without any tenant commitment before breaking ground [Relation] cause [Effect]  a significant percentage of new construction estimated to be speculative",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the firm must constantly innovate and refresh its product portfolio to avoid commoditization and maintain its competitive advantage, its unique organizational structure and diversified end market composition insulate it from downturns in any individual end market.",
    "output": "[Cause] the firm must constantly innovate and refresh its product portfolio [Relation] prevent [Effect] commoditization and maintain its competitive advantage",
    "gold": "[Cause] the firm must constantly innovate and refresh its product portfolio [Relation] prevent [Effect] commoditization and maintain its competitive advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We estimate annual revPAR growth to average 8.9% over the next decade, above our prior estimate of 8.6%, aided by strong growth rates during the recovery years of 2021-22.",
    "output": "[Cause] strong growth rates during the recovery years of 2021-22 [Relation] enable [Effect] annual revPAR growth to average 8.9% over the next decade, above our prior estimate of 8.6%",
    "gold": "[Cause] strong growth rates during the recovery years of 2021-22 [Relation] cause [Effect] annual revPAR growth to average 8.9% over the next decade, above our prior estimate of 8.6%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lazard's asset-management segment also has operating margins around 30% compared with its financial advisory segment with operating margins in the low 20s, so growth in the asset-management business should improve the company's overall operating margin.",
    "output": "[Cause] Lazard's asset-management segment also has operating margins around 30% compared with its financial advisory segment with operating margins in the low 20s [Relation] cause [Effect] growth in the asset-management business should improve the company's overall operating margin",
    "gold": "[Cause] Lazard's asset-management segment also has operating margins around 30% compared with its financial advisory segment with operating margins in the low 20s [Relation] cause [Effect] growth in the asset-management business should improve the company's overall operating margin",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Macao industry gross gaming revenue to recover to 67% of 2019 levels in 2019, as visa and COVID-19 testing restrictions slowly ease.",
    "output": "[Cause] visa and COVID-19 testing restrictions slowly ease [Relation] cause [Effect] Macao industry gross gaming revenue to recover to 67% of 2019 levels in 2019",
    "gold": "[Cause]  visa and COVID-19 testing restrictions slowly ease [Relation] enable [Effect]  Macao industry gross gaming revenue to recover to 67% of 2019 levels in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "During the pandemic, Simply Good Foods' portfolio of on-the-go bars and shakes (collectively about 70% of sales) has experienced headwinds, as consumers spend more time at home.",
    "output": "[Cause] consumers spend more time at home [Relation] cause [Effect] Simply Good Foods' portfolio of on-the-go bars and shakes (collectively about 70% of sales) has experienced headwinds",
    "gold": "[Cause] consumers spend more time at home [Relation] cause [Effect] Simply Good Foods' portfolio of on-the-go bars and shakes (collectively about 70% of sales) has experienced headwinds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Some products such as high-beam assist are increasingly going into bundled packages in higher-trim vehicles, which means more competition for Gentex's SmartBeam product.",
    "output": "[Cause] Some products such as high-beam assist are increasingly going into bundled packages in higher-trim vehicles [Relation] cause [Effect] more competition for Gentex's SmartBeam product",
    "gold": "[Cause] Some products such as high-beam assist are increasingly going into bundled packages in higher-trim vehicles [Relation] cause [Effect]  more competition for Gentex's SmartBeam product",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In today's environment, employer benefit managers are inundated with hundreds of vendor options for telehealth services; a point of differentiation will be depth of provider network and breath of services.",
    "output": "[Cause] depth of provider network and breath of services [Relation] enable [Effect] a point of differentiation",
    "gold": "[Cause] depth of provider network and breath of services [Relation] enable [Effect]  a point of differentiation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These travel and entertainment benefits help the company avoid competing strictly on reward point generation since benefits like late checkout and airport lounge access cannot be directly compared with rewards points generated on other cards.",
    "output": "[Cause] benefits like late checkout and airport lounge access cannot be directly compared with rewards points generated on other cards [Relation] cause [Effect] These travel and entertainment benefits help the company avoid competing strictly on reward point generation",
    "gold": "[Cause] benefits like late checkout and airport lounge access cannot be directly compared with rewards points generated on other cards [Relation] cause [Effect] These travel and entertainment benefits help the company avoid competing strictly on reward point generation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Cologuard can be a good alternative for colorectal cancer for some people because of the unappealing nature of colonoscopies, which, due to its unpopularity, only has a 45% share of colorectal screening, despite its status of being the gold standard for colorectal cancer screening.",
    "output": "[Cause] the unappealing nature of colonoscopies [Relation] cause [Effect] Cologuard can be a good alternative for colorectal cancer for some people",
    "gold": "[Cause] its unpopularity [Relation] cause [Effect] only has a 45% share of colorectal screening",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think Cologuard can be a good alternative for colorectal cancer for some people because of the unappealing nature of colonoscopies, which, due to its unpopularity, only has a 45% share of colorectal screening, despite its status of being the gold standard for colorectal cancer screening.",
    "output": "[Cause] its unpopularity [Relation] cause [Effect] only has a 45% share of colorectal screening",
    "gold": "[Cause] its unpopularity [Relation] cause [Effect] the unappealing nature of colonoscopies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think Cologuard can be a good alternative for colorectal cancer for some people because of the unappealing nature of colonoscopies, which, due to its unpopularity, only has a 45% share of colorectal screening, despite its status of being the gold standard for colorectal cancer screening.",
    "output": "[Cause] its unpopularity [Relation] cause [Effect] only has a 45% share of colorectal screening",
    "gold": "[Cause] the unappealing nature of colonoscopies [Relation] cause [Effect] Cologuard can be a good alternative for colorectal cancer for some people",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The latest strategy to reverse past errors and return the company to growth is not exempt from execution risk, particularly as the company look to shift toward an omnichannel offering.",
    "output": "[Cause] the company look to shift toward an omnichannel offering [Relation] cause [Effect] The latest strategy to reverse past errors and return the company to growth is not exempt from execution risk",
    "gold": "[Cause] The latest strategy to reverse past errors and return the company to growth [Relation] cause [Effect] not exempt from execution risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect TAL Education's profit to grow due to additional revenue from an increase in student enrolments in existing schools and new schools, tuition fee hikes, and cost structure improvement at its schools.",
    "output": "[Cause] additional revenue from an increase in student enrolments in existing schools and new schools, tuition fee hikes, and cost structure improvement at its schools [Relation] cause [Effect] TAL Education's profit to grow",
    "gold": "[Cause] additional revenue from an increase in student enrolments in existing schools and new schools, tuition fee hikes, and cost structure improvement at its schools [Relation] cause [Effect] TAL Education's profit to grow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As it worked to establish a third brewery in the city of Mexicali, it took quite a bit of flak from legislative representatives and advocacy groups, particularly as it relates to the facility's prospective water usage.",
    "output": "[Cause] it relates to the facility's prospective water usage [Relation] cause [Effect] it took quite a bit of flak from legislative representatives and advocacy groups",
    "gold": "[Cause] it relates to the facility's prospective water usage [Relation] cause [Effect] it took quite a bit of flak from legislative representatives and advocacy groups",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe margin expansion from 2019 levels is reasonable because we expect growth in high-margin loyalty revenue as a proportion of revenue and because we think the re-introduction of the 737 MAX will be margin accretive.",
    "output": "[Cause] the re-introduction of the 737 MAX [Relation] cause [Effect] margin expansion from 2019 levels is reasonable",
    "gold": "[Cause]  the re-introduction of the 737 MAX [Relation] enable [Effect] margin accretive",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With much of its exposure in stable, mining-friendly jurisdictions, we think Newmont's overall portfolio carries only a moderate amount of geopolitical risk.",
    "output": "[Cause] much of its exposure in stable, mining-friendly jurisdictions [Relation] cause [Effect] Newmont's overall portfolio carries only a moderate amount of geopolitical risk",
    "gold": "[Cause] much of its exposure in stable, mining-friendly jurisdictions [Relation] cause [Effect] Newmont's overall portfolio carries only a moderate amount of geopolitical risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, RH's demand is largely tied to the performance of the domestic home improvement market and consumer confidence, which tend to fluctuate over an economic cycle, driving significant volatility in comparable-store sales.",
    "output": "[Cause] RH's demand is largely tied to the performance of the domestic home improvement market and consumer confidence, which tend to fluctuate over an economic cycle [Relation] cause [Effect] significant volatility in comparable-store sales",
    "gold": "[Cause] is largely tied to the performance of the domestic home improvement market and consumer confidence, which tend to fluctuate over an economic cycle, driving significant volatility in comparable-store sales [Relation] enable [Effect] Additionally, RH's demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The history of the Brazilian market has, in our view, been marked by excessive competition and pricing that is too low to allow for adequate returns on capital.",
    "output": "[Cause] excessive competition and pricing that is too low [Relation] prevent [Effect] adequate returns on capital",
    "gold": "[Cause] excessive competition and pricing that is too low [Relation] prevent [Effect] adequate returns on capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Large incumbents, like Microsoft and Google, have been catching up with competing storage offerings in recent years and transformed cloud storage into what we see as a commodity offering, limiting the incentive to upgrade.",
    "output": "[Cause] Large incumbents, like Microsoft and Google, have been catching up with competing storage offerings in recent years and transformed cloud storage into what we see as a commodity offering [Relation] prevent [Effect] the incentive to upgrade",
    "gold": "[Cause] Large incumbents, like Microsoft and Google, have been catching up with competing storage offerings in recent years and transformed cloud storage into what we see as a commodity offering [Relation] prevent [Effect] the incentive to upgrade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also benefiting Cummins in the next two decades is the larger theme of greater global electricity consumption that will drive demand for both standby and primary electrical power.",
    "output": "[Cause] the larger theme of greater global electricity consumption [Relation] enable [Effect] drive demand for both standby and primary electrical power",
    "gold": "[Cause] the larger theme of greater global electricity consumption that will drive demand for both standby and primary electrical power [Relation] cause [Effect] benefiting Cummins in the next two decades",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The rest of the portfolio is gathering and processing assets located outside of the Appalachian basin, which would normally face tough competition due to the low capital intensity and weak contract coverage.",
    "output": "[Cause] the low capital intensity and weak contract coverage [Relation] cause [Effect] The rest of the portfolio is gathering and processing assets located outside of the Appalachian basin, which would normally face tough competition",
    "gold": "[Cause] the low capital intensity and weak contract coverage [Relation] cause [Effect] The rest of the portfolio is gathering and processing assets located outside of the Appalachian basin, which would normally face tough competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its customers benefit from more customers joining CrowdStrike's platform by becoming better protected from threats unknown to their particular endpoints and networks.",
    "output": "[Cause] becoming better protected from threats unknown to their particular endpoints and networks [Relation] enable [Effect] Its customers benefit from more customers joining CrowdStrike's platform",
    "gold": "[Cause] becoming better protected from threats unknown to their particular endpoints and networks [Relation] cause [Effect] Its customers benefit from more customers joining CrowdStrike's platform",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The risk from carbon emissions is most likely to materialize through a carbon tax, which increases the price of end products to consumers, reducing demand over time and threatening BP's hydrocarbon business.",
    "output": "[Cause] a carbon tax [Relation] cause [Effect] increases the price of end products to consumers",
    "gold": "[Cause] a carbon tax [Relation] enable [Effect] reducing demand over time",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The risk from carbon emissions is most likely to materialize through a carbon tax, which increases the price of end products to consumers, reducing demand over time and threatening BP's hydrocarbon business.",
    "output": "[Cause] a carbon tax [Relation] cause [Effect] increases the price of end products to consumers",
    "gold": "[Cause] a carbon tax [Relation] cause [Effect]  threatening BP's hydrocarbon business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think Conagra's leadership in these categories, which represent a material portion of total food sales, elevates the firm to strategic partner status with the firm's retail customers, allowing Conagra to secure favorable shelf space for its products, including new products the firm routinely launches.",
    "output": "[Cause] Conagra's leadership in these categories [Relation] enable [Effect] elevates the firm to strategic partner status with the firm's retail customers",
    "gold": "[Cause] Conagra's leadership in these categories [Relation] enable [Effect] elevates the firm to strategic partner status with the firm's retail customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Conagra's leadership in these categories, which represent a material portion of total food sales, elevates the firm to strategic partner status with the firm's retail customers, allowing Conagra to secure favorable shelf space for its products, including new products the firm routinely launches.",
    "output": "[Cause] elevates the firm to strategic partner status with the firm's retail customers [Relation] enable [Effect] Conagra to secure favorable shelf space for its products, including new products the firm routinely launches",
    "gold": "[Cause] Conagra's leadership in these categories [Relation] enable [Effect] allowing Conagra to secure favorable shelf space for its products, including new products the firm routinely launches",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With top-line growth expected to be negative during nearly all of our forecast period, as the company deals with not only weaker AUM growth but industry-driven fee compression, the net result is a negative 5.6% compound annual growth rate for revenue during 2020-24.",
    "output": "[Cause] the company deals with not only weaker AUM growth but industry-driven fee compression [Relation] cause [Effect] a negative 5.6% compound annual growth rate for revenue during 2020-24",
    "gold": "[Cause] the company deals with not only weaker AUM growth but industry-driven fee compression [Relation] cause [Effect] a negative 5.6% compound annual growth rate for revenue during 2020-24",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to these massive switching costs, a potential competitor would have difficulty garnering customers even if it brought a competitive product to market.",
    "output": "[Cause] these massive switching costs [Relation] cause [Effect] a potential competitor would have difficulty garnering customers even if it brought a competitive product to market",
    "gold": "[Cause]  these massive switching costs [Relation] cause [Effect]  a potential competitor would have difficulty garnering customers even if it brought a competitive product to market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The number of dealers could increase as a result of the new Pursuit plant adding production capacity (since summer 2020).",
    "output": "[Cause] the new Pursuit plant adding production capacity [Relation] cause [Effect] The number of dealers could increase",
    "gold": "[Cause] the new Pursuit plant adding production capacity [Relation] cause [Effect] The number of dealers could increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect non-GAAP gross margins and operating margins to expand further with the continued implementation of cost-saving initiatives and improving mix.",
    "output": "[Cause] the continued implementation of cost-saving initiatives and improving mix [Relation] enable [Effect] non-GAAP gross margins and operating margins to expand further",
    "gold": "[Cause]  the continued implementation of cost-saving initiatives and improving mix [Relation] cause [Effect]  non-GAAP gross margins and operating margins to expand further",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the pandemic to result in flat sales and a 110-basis-point drop in operating margins for fiscal 2020, although we expect normal patterns to resume in time as the virus is contained.",
    "output": "[Cause] the virus is contained [Relation] cause [Effect] normal patterns to resume in time",
    "gold": "[Cause] the virus is contained [Relation] cause [Effect] normal patterns to resume in time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Roughly three quarters of the bank's loan book is backed by a commercial enterprise or commercial real estate. These loans tend to be among the fastest loans to reprice in a changing interest-rate environment and make the bank quite asset-sensitive.",
    "output": "[Cause] Roughly three quarters of the bank's loan book is backed by a commercial enterprise or commercial real estate [Relation] cause [Effect] These loans tend to be among the fastest loans to reprice in a changing interest-rate environment and make the bank quite asset-sensitive",
    "gold": "[Cause] Roughly three quarters of the bank's loan book is backed by a commercial enterprise or commercial real estate [Relation] cause [Effect] These loans tend to be among the fastest loans to reprice in a changing interest-rate environment and make the bank quite asset-sensitive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're projecting that the firm's military exposure will grow roughly in line with overall budgets over the long term, as we do not see the same structural opportunity to increase content in the military market that we see in the commercial market.",
    "output": "[Cause] we do not see the same structural opportunity to increase content in the military market that we see in the commercial market [Relation] cause [Effect] the firm's military exposure will grow roughly in line with overall budgets over the long term",
    "gold": "[Cause] we do not see the same structural opportunity to increase content in the military market that we see in the commercial market [Relation] cause [Effect] the firm's military exposure will grow roughly in line with overall budgets over the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ulta's sales increased to $7.4 billion in 2019 (before the pandemic) from $912 million in 2007 as it opened more than 1,000 stores and its stores became more productive.",
    "output": "[Cause] it opened more than 1,000 stores and its stores became more productive [Relation] cause [Effect] Ulta's sales increased to $7.4 billion in 2019 (before the pandemic) from $912 million in 2007",
    "gold": "[Cause] it opened more than 1,000 stores and its stores became more productive [Relation] enable [Effect] Ulta's sales increased to $7.4 billion in 2019 (before the pandemic) from $912 million in 2007",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a slew of government guarantee programs for small and midsize enterprises, the extension of forbearance or restructuring on a large portion of the loan book, and the uncertainty surrounding the duration of restricted consumer activity, credit costs are extremely uncertain.",
    "output": "[Cause] a slew of government guarantee programs for small and midsize enterprises, the extension of forbearance or restructuring on a large portion of the loan book, and the uncertainty surrounding the duration of restricted consumer activity [Relation] cause [Effect] credit costs are extremely uncertain",
    "gold": "[Cause] a slew of government guarantee programs for small and midsize enterprises [Relation] enable [Effect] the extension | restructuring | the uncertainty",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over the long term, we believe mid-single-digit revenue growth, driven by GDP growth and pricing, is a reasonable expectation for S&P Ratings.",
    "output": "[Cause] GDP growth and pricing [Relation] cause [Effect] mid-single-digit revenue growth",
    "gold": "[Cause] GDP growth and pricing [Relation] enable [Effect] mid-single-digit revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the long term, we believe mid-single-digit revenue growth, driven by GDP growth and pricing, is a reasonable expectation for S&P Ratings.",
    "output": "[Cause] GDP growth and pricing [Relation] cause [Effect] mid-single-digit revenue growth",
    "gold": "[Cause] mid-single-digit revenue growth [Relation] enable [Effect] a reasonable expectation for S&P Ratings",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For one, even prior to COVID-19, Estee had been struggling with its large exposure to global department stores (39% of sales) as the channel faced declining traffic from consumers shifting their purchases to other outlets.",
    "output": "[Cause] the channel faced declining traffic from consumers shifting their purchases to other outlets [Relation] cause [Effect] even prior to COVID-19, Estee had been struggling with its large exposure to global department stores (39% of sales)",
    "gold": "[Cause] the channel faced declining traffic from consumers shifting their purchases to other outlets [Relation] enable [Effect]  even prior to COVID-19, Estee had been struggling with its large exposure to global department stores (39% of sales)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our assumptions result in an average combined ratio of 95%, better than the 97% average the company has posted over the past five years, as we expect a stronger pricing environment to improve underwrting results.",
    "output": "[Cause] a stronger pricing environment to improve underwrting results [Relation] cause [Effect] an average combined ratio of 95%, better than the 97% average the company has posted over the past five years",
    "gold": "[Cause]  a stronger pricing environment [Relation] enable [Effect] improve underwrting results",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Hilton has outsize exposure to business travel, as corporate represents around 75% of its room nights with about 80% of that coming from transient and the other 20% from group.",
    "output": "[Cause] corporate represents around 75% of its room nights with about 80% of that coming from transient and the other 20% from group [Relation] cause [Effect] Hilton has outsize exposure to business travel",
    "gold": "[Cause] corporate represents around 75% of its room nights with about 80% of that coming from transient and the other 20% from group [Relation] cause [Effect] Hilton has outsize exposure to business travel",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the latter case, TE can sell a comprehensive module for a higher price than the sum of its parts, because it takes the task of combination away from the customer.",
    "output": "[Cause] it takes the task of combination away from the customer [Relation] cause [Effect] TE can sell a comprehensive module for a higher price than the sum of its parts",
    "gold": "[Cause]  it takes the task of combination away from the customer [Relation] enable [Effect] TE can sell a comprehensive module for a higher price than the sum of its parts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our production forecast assumes volumes remain at about 2.6 million barrels of oil equivalent per day through 2025, although given management's divestment plan actual volumes are likely to be lower.",
    "output": "[Cause] management's divestment plan actual volumes are likely to be lower [Relation] cause [Effect] Our production forecast assumes volumes remain at about 2.6 million barrels of oil equivalent per day through 2025",
    "gold": "[Cause] management's divestment plan [Relation] cause [Effect] actual volumes are likely to be lower",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, American Tower's diversified landlord base (90% of its leases are with landlords who own only one site) makes big losses less likely.",
    "output": "[Cause] American Tower's diversified landlord base [Relation] cause [Effect] big losses less likely",
    "gold": "[Cause] American Tower's diversified landlord base [Relation] enable [Effect] big losses less likely",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are, however, concerned that the sharp decline may exacerbate current excess inventory and grey-market channel problems for the group.",
    "output": "[Cause] the sharp decline [Relation] cause [Effect] exacerbate current excess inventory and grey-market channel problems for the group",
    "gold": "[Cause] the sharp decline [Relation] cause [Effect] exacerbate current excess inventory and grey-market channel problems for the group",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Host has done a good job cutting variable expenses, there are still many fixed operating costs that have lead to negative operating income and a negative EBITDA margin for 2020.",
    "output": "[Cause] there are still many fixed operating costs [Relation] cause [Effect] negative operating income and a negative EBITDA margin for 2020",
    "gold": "[Cause] there are still many fixed operating costs [Relation] cause [Effect] negative operating income and a negative EBITDA margin for 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Home improvement retailers remain one of the best-insulated sectors from e-commerce threats, as the high weight/value ratio of many products prohibit cost-effective shipping and the specialized knowledge base employees offer is difficult to replicate.",
    "output": "[Cause] the high weight/value ratio of many products prohibit cost-effective shipping and the specialized knowledge base employees offer is difficult to replicate [Relation] cause [Effect] Home improvement retailers remain one of the best-insulated sectors from e-commerce threats",
    "gold": "[Cause] the high weight/value ratio of many products prohibit cost-effective shipping and the specialized knowledge base employees offer is difficult to replicate [Relation] enable [Effect] Home improvement retailers remain one of the best-insulated sectors from e-commerce threats",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, Johnson &amp; Johnson, Alcon, Bausch &amp; Lomb and Cooper Vision, which together account for over 97% of all contacts, have set similar price floors for many of their contacts, preventing largely online, discount retailers from altering the competitive landscape.",
    "output": "[Cause] Johnson &amp; Johnson, Alcon, Bausch &amp; Lomb and Cooper Vision, which together account for over 97% of all contacts [Relation] cause [Effect] have set similar price floors for many of their contacts",
    "gold": "[Cause] Johnson &amp; Johnson, Alcon, Bausch &amp; Lomb and Cooper Vision, which together account for over 97% of all contacts [Relation] enable [Effect] have set similar price floors for many of their contacts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Air Products is poised for rapid growth over the next few years due to its roughly $18 billion capital allocation plan.",
    "output": "[Cause] its roughly $18 billion capital allocation plan [Relation] cause [Effect] Air Products is poised for rapid growth over the next few years",
    "gold": "[Cause] its roughly $18 billion capital allocation plan [Relation] cause [Effect] Air Products is poised for rapid growth over the next few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect GAAP operating margins to increase from negative 92% in 2021 to 29% in 2031, as a result of gross margin expansion as we see operating leverage from drastic scale.",
    "output": "[Cause] gross margin expansion as we see operating leverage from drastic scale [Relation] cause [Effect] GAAP operating margins to increase from negative 92% in 2021 to 29% in 2031",
    "gold": "[Cause] gross margin expansion as we see operating leverage from drastic scale [Relation] cause [Effect] GAAP operating margins to increase from negative 92% in 2021 to 29% in 2031",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, Nice offers hundreds of integrations with other vital contact center software, such as CRM, which allow a business to provide a higher quality of customer service.",
    "output": "[Cause] Nice offers hundreds of integrations with other vital contact center software [Relation] enable [Effect] a business to provide a higher quality of customer service",
    "gold": "[Cause]  Nice offers hundreds of integrations with other vital contact center software [Relation] enable [Effect] business to provide a higher quality of customer service.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As Twilio continues to enhance the customer experience and provide an expanding range of services in a greenfield space, we believe it is poised for sustained robust growth, as well as increasing switching costs.",
    "output": "[Cause] Twilio continues to enhance the customer experience and provide an expanding range of services in a greenfield space [Relation] enable [Effect] it is poised for sustained robust growth, as well as increasing switching costs",
    "gold": "[Cause] Twilio continues to enhance the customer experience and provide an expanding range of services in a greenfield space [Relation] enable [Effect] we believe it is poised for sustained robust growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Cross-border transactions, which are particularly lucrative for the networks, have seen major declines this year over fallout from the coronavirus outbreak and a reduction in global travel.",
    "output": "[Cause] the coronavirus outbreak and a reduction in global travel [Relation] cause [Effect] Cross-border transactions, which are particularly lucrative for the networks, have seen major declines this year",
    "gold": "[Cause] the coronavirus outbreak and a reduction in global travel [Relation] cause [Effect] Cross-border transactions, which are particularly lucrative for the networks, have seen major declines this year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management recently gave us a first look into growth opportunities beyond its five-year forecast, noting expectations for $65 billion to $75 billion of capital expenditures helping to support 7% annual rate base growth.",
    "output": "[Cause] expectations for $65 billion to $75 billion of capital expenditures [Relation] enable [Effect] support 7% annual rate base growth",
    "gold": "[Cause] expectations for $65 billion to $75 billion of capital expenditures [Relation] cause [Effect] support 7% annual rate base growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Based on the number of data centers, square footage, and power, Digital Realty is the largest owner of data center space globally, and we think its cost advantages stem from its scale and property ownership.",
    "output": "[Cause] its scale and property ownership [Relation] cause [Effect] its cost advantages",
    "gold": "[Cause]  its scale and property ownership [Relation] enable [Effect] Digital Realty is the largest owner of data center space globally",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In turn, Criteo's offering was more attractive to publishers, which resulted in improved access to inventory and data, which then drove more sales and ROI for clients.",
    "output": "[Cause] Criteo's offering was more attractive to publishers [Relation] cause [Effect] improved access to inventory and data",
    "gold": "[Cause] Criteo's offering was more attractive to publishers [Relation] cause [Effect] improved access to inventory and data",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In turn, Criteo's offering was more attractive to publishers, which resulted in improved access to inventory and data, which then drove more sales and ROI for clients.",
    "output": "[Cause] Criteo's offering was more attractive to publishers [Relation] cause [Effect] improved access to inventory and data",
    "gold": "[Cause] improved access to inventory and data [Relation] enable [Effect] drove more sales and ROI for clients",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Still, we believe harmonization of systems and optimization of the supply chain and manufacturing apparatus will allow for margin expansion while reinvesting appropriately for growth.",
    "output": "[Cause] harmonization of systems and optimization of the supply chain and manufacturing apparatus [Relation] enable [Effect] margin expansion",
    "gold": "[Cause] harmonization of systems and optimization of the supply chain and manufacturing apparatus [Relation] enable [Effect] margin expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think ON has a first-mover advantage in the automotive market in particular, having developed technology specifically designed for ADAS applications for years rather than focusing on the cut-throat smartphone market.",
    "output": "[Cause] having developed technology specifically designed for ADAS applications for years [Relation] enable [Effect] ON has a first-mover advantage in the automotive market in particular",
    "gold": "[Cause] having developed technology specifically designed for ADAS applications for years [Relation] enable [Effect] ON has a first-mover advantage in the automotive market in particular",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also recognize a change in capital-allocation discipline and cost focus among the management team and the organization, which should prevent the capital-allocation errors and escalating costs that caused returns to deteriorate during the last cycle.",
    "output": "[Cause] a change in capital-allocation discipline and cost focus among the management team and the organization [Relation] prevent [Effect] the capital-allocation errors and escalating costs that caused returns to deteriorate during the last cycle",
    "gold": "[Cause]  a change in capital-allocation discipline and cost focus among the management team and the organization [Relation] prevent [Effect] the capital-allocation errors and escalating costs that caused returns to deteriorate during the last cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The oligopoly is strengthened by Boston's customer base in the U.S., which is relatively more fragmented, and hospitals are less able to exert bargaining power against the cardiac device makers.",
    "output": "[Cause] Boston's customer base in the U.S. [Relation] enable [Effect] The oligopoly is strengthened",
    "gold": "[Cause]  Boston's customer base in the U.S. [Relation] enable [Effect] The oligopoly is strengthened",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do not believe Smucker has secured a scale advantage through procurement, as the vast majority of raw materials (which make up two thirds of its cost of goods sold) are commodity ingredients, such as coffee, meats, nuts, and resin, where prices are largely dictated by supply and demand.",
    "output": "[Cause] the vast majority of raw materials (which make up two thirds of its cost of goods sold) are commodity ingredients [Relation] cause [Effect] We do not believe Smucker has secured a scale advantage through procurement",
    "gold": "[Cause] the vast majority of raw materials (which make up two thirds of its cost of goods sold) are commodity ingredients [Relation] cause [Effect] We do not believe Smucker has secured a scale advantage through procurement",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do not believe Smucker has secured a scale advantage through procurement, as the vast majority of raw materials (which make up two thirds of its cost of goods sold) are commodity ingredients, such as coffee, meats, nuts, and resin, where prices are largely dictated by supply and demand.",
    "output": "[Cause] the vast majority of raw materials (which make up two thirds of its cost of goods sold) are commodity ingredients [Relation] cause [Effect] prices are largely dictated by supply and demand",
    "gold": "[Cause] supply and demand [Relation] enable [Effect] prices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Repair shops usually work under tight time constraints, so finding the desired part when they need it is important to them.",
    "output": "[Cause] Repair shops usually work under tight time constraints [Relation] cause [Effect] finding the desired part when they need it is important to them",
    "gold": "[Cause] Repair shops usually work under tight time constraints [Relation] cause [Effect]  finding the desired part when they need it is important to them",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, we look for Hub's gross revenue to fall 5%-6% this year as container volume grappled with soft imports and heavy competition from depressed truckload industry rates in the first half.",
    "output": "[Cause] container volume grappled with soft imports and heavy competition from depressed truckload industry rates in the first half [Relation] cause [Effect] Hub's gross revenue to fall 5%-6% this year",
    "gold": "[Cause] container volume grappled with soft imports and heavy competition from depressed truckload industry rates in the first half [Relation] cause [Effect] Hub's gross revenue to fall 5%-6% this year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, as far as investment banks go, we quite like SocGen's operation, as it is focused on a core target market of around 500 French and select large European corporates and a well-established network of buy-side clients in the major financial centres.",
    "output": "[Cause] it is focused on a core target market of around 500 French and select large European corporates and a well-established network of buy-side clients in the major financial centres [Relation] cause [Effect] we quite like SocGen's operation",
    "gold": "[Cause] it is focused on a core target market of around 500 French and select large European corporates and a well-established network of buy-side clients in the major financial centres [Relation] cause [Effect] we quite like SocGen's operation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the diversity of HSBC's operations means its results are less volatile than most peers, we believe the bank's uncertainty is high, given its extensive exposure to global economic conditions.",
    "output": "[Cause] its extensive exposure to global economic conditions [Relation] cause [Effect] the bank's uncertainty is high",
    "gold": "[Cause] its extensive exposure to global economic conditions [Relation] cause [Effect] the bank's uncertainty is high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to the 2010 merger of Live Nation and Ticketmaster, Live Nation Entertainment can and has promoted tours where the firm has acted as the talent agent, booking agent, promoter, venue operator, ticket services provider, and advertiser and sponsorship seller.",
    "output": "[Cause] the 2010 merger of Live Nation and Ticketmaster [Relation] cause [Effect] Live Nation Entertainment can and has promoted tours where the firm has acted as the talent agent, booking agent, promoter, venue operator, ticket services provider, and advertiser and sponsorship seller",
    "gold": "[Cause] the 2010 merger of Live Nation and Ticketmaster [Relation] cause [Effect] Live Nation Entertainment can and has promoted tours where the firm has acted as the talent agent, booking agent, promoter, venue operator, ticket services provider, and advertiser and sponsorship seller",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, HPE's products facilitate in the transfer of data, which may attract cybercriminals, and its solutions are tasked with protecting customers from cyberattacks, making data privacy and security a key concern.",
    "output": "[Cause] HPE's products facilitate in the transfer of data [Relation] cause [Effect] attract cybercriminals",
    "gold": "[Cause] HPE's products facilitate in the transfer of data [Relation] cause [Effect]  attract cybercriminals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that switching costs increase as a customer adopts more applications, and our estimates are that annual revenue per employee is rising.",
    "output": "[Cause] a customer adopts more applications [Relation] cause [Effect] switching costs increase",
    "gold": "[Cause] a customer adopts more applications [Relation] cause [Effect] switching costs increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "S&L performance is expected to decline in 2021, as the temporary boost from 2020 storage differentials will disappear, and Plains has taken steps to ensure its capital position and balance sheet are protected.",
    "output": "[Cause] the temporary boost from 2020 storage differentials will disappear [Relation] cause [Effect] S&L performance is expected to decline in 2021",
    "gold": "[Cause] the temporary boost from 2020 storage differentials will disappear [Relation] cause [Effect] S&L performance is expected to decline in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With all 3G wireless networks based on CDMA technology, as well as most 4G phones having backward compatibility with 3G, we expect the firm to earn significant royalty fees over the next decade and likely beyond.",
    "output": "[Cause] all 3G wireless networks based on CDMA technology, as well as most 4G phones having backward compatibility with 3G [Relation] cause [Effect] the firm to earn significant royalty fees over the next decade and likely beyond",
    "gold": "[Cause] all 3G wireless networks based on CDMA technology, as well as most 4G phones having backward compatibility with 3G [Relation] cause [Effect] the firm to earn significant royalty fees over the next decade and likely beyond",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Vehicles are becoming ever more complex to repair, which we think favors the dealer that can more easily invest in service operations.",
    "output": "[Cause] Vehicles are becoming ever more complex to repair [Relation] enable [Effect] favors the dealer that can more easily invest in service operations",
    "gold": "[Cause] Vehicles are becoming ever more complex to repair [Relation] enable [Effect]  favors the dealer that can more easily invest in service operations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In October 2020, Bed Bath & Beyond put forth an updated strategy to revitalize its brand and regain customer confidence by focusing on its core properties. As such, the company has executed on plans to divest peripheral brands such as Cost Plus and focus on the Bed Bath & Beyond, Buy Buy Baby, Harmon Face Value, and Decorist labels.",
    "output": "[Cause] Bed Bath & Beyond put forth an updated strategy to revitalize its brand and regain customer confidence by focusing on its core properties [Relation] cause [Effect] the company has executed on plans to divest peripheral brands such as Cost Plus and focus on the Bed Bath & Beyond, Buy Buy Baby, Harmon Face Value, and Decorist labels",
    "gold": "[Cause] Bed Bath & Beyond put forth an updated strategy to revitalize its brand and regain customer confidence by focusing on its core properties [Relation] cause [Effect] the company has executed on plans to divest peripheral brands such as Cost Plus and focus on the Bed Bath & Beyond, Buy Buy Baby, Harmon Face Value, and Decorist labels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, without availability of cookies, the firm's high client retention rate is threatened as ROIs on ads purchased will decline. For this reason, Criteo may no longer be well positioned to benefit from the continuing double-digit growth expected in the global digital display ad market.",
    "output": "[Cause] without availability of cookies, the firm's high client retention rate is threatened as ROIs on ads purchased will decline [Relation] cause [Effect] Criteo may no longer be well positioned to benefit from the continuing double-digit growth expected in the global digital display ad market",
    "gold": "[Cause] without availability of cookies, the firm's high client retention rate is threatened as ROIs on ads purchased will decline [Relation] cause [Effect] Criteo may no longer be well positioned to benefit from the continuing double-digit growth expected in the global digital display ad market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While MongoDB does not compete with the majority of Snowflake's offerings, which revolve largely around its data warehouse product, MongoDB is similar to Snowflake in that the database does not require replatformization when a customer wants to switch the cloud service provider on which the MongoDB application is hosted.",
    "output": "[Cause] MongoDB does not compete with the majority of Snowflake's offerings [Relation] cause [Effect] MongoDB is similar to Snowflake in that the database does not require replatformization when a customer wants to switch the cloud service provider on which the MongoDB application is hosted",
    "gold": "[Cause] MongoDB is similar to Snowflake in that the database does not require replatformization when a customer wants to switch the cloud service provider on which the MongoDB application is hosted [Relation] cause [Effect]  MongoDB does not compete with the majority of Snowflake's offerings, which revolve largely around its data warehouse product",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "More recently, Intel's 10-nm process has experienced considerable delays that have disrupted the firm's \"\"\"\"tick-tock\"\"\"\" strategy, in which the firm advanced it technology node every two years to reduce feature sizes (the tick), while it launched a new architecture for its microprocessors during the years in between (the tock).",
    "output": "[Cause] Intel's 10-nm process has experienced considerable delays [Relation] cause [Effect] disrupted the firm's \"\"\"\"tick-tock\"\"\" strategy",
    "gold": "[Cause]  the firm advanced it technology node every two years to reduce feature sizes [Relation] enable [Effect]  it launched a new architecture for its microprocessors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nonetheless, consolidation through acquisitions presents a feasible option for willing competitors to develop exposure in a certain market or expand their existing store footprint.",
    "output": "[Cause] consolidation through acquisitions [Relation] enable [Effect] willing competitors to develop exposure in a certain market or expand their existing store footprint",
    "gold": "[Cause] consolidation through acquisitions [Relation] enable [Effect] willing competitors to develop exposure in a certain market or expand their existing store footprint",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe a relatively easy cross-selling opportunity exists for the company, as creative professionals are already steeped in Adobe products.",
    "output": "[Cause] creative professionals are already steeped in Adobe products [Relation] cause [Effect] a relatively easy cross-selling opportunity exists for the company",
    "gold": "[Cause] creative professionals are already steeped in Adobe products [Relation] cause [Effect]  a relatively easy cross-selling opportunity exists for the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Following the divestiment of Organon, the remaining Merck looks well positioned with immuno-oncology drug Keytruda and cancer drug Lynparza as well as HPV vaccine Gardasil.",
    "output": "[Cause] the divestiment of Organon [Relation] cause [Effect] the remaining Merck looks well positioned with immuno-oncology drug Keytruda and cancer drug Lynparza as well as HPV vaccine Gardasil",
    "gold": "[Cause] the divestiment of Organon [Relation] cause [Effect] the remaining Merck looks well positioned with immuno-oncology drug Keytruda and cancer drug Lynparza as well as HPV vaccine Gardasil",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It will have deep relationships with its clients spanning various investment, transactional and lending products 鈥 often integrated 鈥 which makes pricing opaque.",
    "output": "[Cause] It will have deep relationships with its clients spanning various investment, transactional and lending products  often integrated [Relation] cause [Effect] pricing opaque",
    "gold": "[Cause] It will have deep relationships with its clients spanning various investment, transactional and lending products 鈥 often integrated 鈥 [Relation] enable [Effect]  makes pricing opaque",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nissan is also exposed to foreign exchange risks, but has somewhat alleviated this exposure through investment in local production facilities, especially in the U.S.",
    "output": "[Cause] investment in local production facilities, especially in the U.S [Relation] enable [Effect] has somewhat alleviated this exposure",
    "gold": "[Cause] investment in local production facilities, especially in the U.S [Relation] enable [Effect] has somewhat alleviated this exposure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that Saudi Arabia (13% of group sales) is a major sales destination, the group is particularly exposed to business ethics risks.",
    "output": "[Cause] Saudi Arabia (13% of group sales) is a major sales destination [Relation] cause [Effect] the group is particularly exposed to business ethics risks",
    "gold": "[Cause]  Saudi Arabia (13% of group sales) is a major sales destination [Relation] cause [Effect] the group is particularly exposed to business ethics risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Whether its big-box retailers or small-format outlets like convenience stores, the thin margins and technological disruption that have defined this industry will continue to drive an appetite for increased scale and resources.",
    "output": "[Cause] the thin margins and technological disruption that have defined this industry [Relation] enable [Effect] drive an appetite for increased scale and resources",
    "gold": "[Cause] for increased scale and resources [Relation] cause [Effect]  the thin margins and technological disruption that have defined this industry will continue to drive an appetite",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Research and development spending, sales promotion and marketing expenses, volatile raw material prices, and higher depreciation charges due to acquisition and ongoing capital expenditure will also weigh on operating margins.",
    "output": "[Cause] Research and development spending, sales promotion and marketing expenses, volatile raw material prices, and higher depreciation charges due to acquisition and ongoing capital expenditure [Relation] cause [Effect] weigh on operating margins",
    "gold": "[Cause] Research and development spending, sales promotion and marketing expenses, volatile raw material prices, and higher depreciation charges due to acquisition and ongoing capital expenditure [Relation] cause [Effect] weigh on operating margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Foremost among its international growth options is Equinor's Brazilian position, which should deliver steady growth during the next decade as a string of projects with low break-even levels come online.",
    "output": "[Cause] a string of projects with low break-even levels come online [Relation] enable [Effect] steady growth during the next decade",
    "gold": "[Cause] a string of projects with low break-even levels come online [Relation] cause [Effect] steady growth during the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the April 2021 acquisition of NIC Inc., a leader in government solutions and payments, will accelerate the shift toward transactional revenue, in our view.",
    "output": "[Cause] the April 2021 acquisition of NIC Inc. [Relation] enable [Effect] accelerate the shift toward transactional revenue",
    "gold": "[Cause]  a leader in government solutions and payments [Relation] cause [Effect] accelerate the shift toward transactional revenue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition to middle-mile data transportation, Lumen meets businesses' communications needs by serving as their phone and broadband service provider and providing colocation and data center services.",
    "output": "[Cause] serving as their phone and broadband service provider and providing colocation and data center services [Relation] enable [Effect] Lumen meets businesses' communications needs",
    "gold": "[Cause] serving as their phone and broadband service provider and providing colocation and data center services [Relation] enable [Effect] Lumen meets businesses' communications needs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, our forecast is below that in anticipation of a revision downward at the next update, given the announced cuts in spending.",
    "output": "[Cause] the announced cuts in spending [Relation] cause [Effect] our forecast is below that in anticipation of a revision downward at the next update",
    "gold": "[Cause] the announced cuts in spending [Relation] cause [Effect] our forecast is below that in anticipation of a revision downward at the next update",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate that Amphenol's gross margins will remain around 33% at the end of our explicit forecast as industrial and automotive products make up a larger portion of the mix.",
    "output": "[Cause] industrial and automotive products make up a larger portion of the mix [Relation] cause [Effect] Amphenol's gross margins will remain around 33% at the end of our explicit forecast",
    "gold": "[Cause] industrial and automotive products make up a larger portion of the mix [Relation] cause [Effect]  Amphenol's gross margins will remain around 33% at the end of our explicit forecast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm has also been increasing its position in ancillary businesses, such as Internet portals and shopping, as well as financial operations which have struggled to generate profits.",
    "output": "[Cause] The firm has also been increasing its position in ancillary businesses [Relation] cause [Effect] Internet portals and shopping, as well as financial operations which have struggled to generate profits",
    "gold": "[Cause] The firm has also been increasing its position in ancillary businesses [Relation] enable [Effect]  Internet portals and shopping, as well as financial operations which have struggled to generate profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Safety concerns, another vital part of our CPG Brand Strength Framework, are of paramount importance for customers, and branded items' strong reputation is of particular interest to both parents and doctors.",
    "output": "[Cause] Safety concerns, another vital part of our CPG Brand Strength Framework [Relation] cause [Effect] are of paramount importance for customers",
    "gold": "[Cause] branded items' strong reputation [Relation] enable [Effect] interest to both parents and doctors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If the cost of debt rises without corresponding income growth, there is a risk that yield-searching capital will flow out of real estate investment trusts, pressuring asset values and limiting capital alternatives for Equity Residential.",
    "output": "[Cause] the cost of debt rises without corresponding income growth [Relation] cause [Effect] yield-searching capital will flow out of real estate investment trusts, pressuring asset values and limiting capital alternatives for Equity Residential",
    "gold": "[Cause]  the cost of debt rises without corresponding income growth [Relation] cause [Effect] yield-searching capital will flow out of real estate investment trusts, pressuring asset values and limiting capital alternatives for Equity Residential",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since Dentsply Sirona operates in a highly competitive industry with limited product differentiation, the company must maintain product innovation to stay ahead of the curve.",
    "output": "[Cause] Dentsply Sirona operates in a highly competitive industry with limited product differentiation [Relation] cause [Effect] the company must maintain product innovation to stay ahead of the curve",
    "gold": "[Cause]  Dentsply Sirona operates in a highly competitive industry with limited product differentiation [Relation] cause [Effect]  the company must maintain product innovation to stay ahead of the curve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, structural factors make it difficult for airlines to generate excess returns: a mostly undifferentiated product, a tendency for irrational competition, substantial operating leverage, and a tendency to employ financial leverage that exacerbates booms and busts.",
    "output": "[Cause] a mostly undifferentiated product [Relation] cause [Effect] it difficult for airlines to generate excess returns",
    "gold": "[Cause]  structural factors [Relation] enable [Effect] it difficult for airlines to generate excess returns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, structural factors make it difficult for airlines to generate excess returns: a mostly undifferentiated product, a tendency for irrational competition, substantial operating leverage, and a tendency to employ financial leverage that exacerbates booms and busts.",
    "output": "[Cause] a tendency to employ financial leverage that exacerbates booms and busts [Relation] cause [Effect] it difficult for airlines to generate excess returns",
    "gold": "[Cause]  a mostly undifferentiated product [Relation] enable [Effect] it difficult for airlines to generate excess returns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, structural factors make it difficult for airlines to generate excess returns: a mostly undifferentiated product, a tendency for irrational competition, substantial operating leverage, and a tendency to employ financial leverage that exacerbates booms and busts.",
    "output": "[Cause] a tendency to employ financial leverage [Relation] cause [Effect] exacerbates booms and busts",
    "gold": "[Cause]  a tendency for irrational competition [Relation] enable [Effect] it difficult for airlines to generate excess returns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, structural factors make it difficult for airlines to generate excess returns: a mostly undifferentiated product, a tendency for irrational competition, substantial operating leverage, and a tendency to employ financial leverage that exacerbates booms and busts.",
    "output": "[Cause] a tendency to employ financial leverage [Relation] cause [Effect] exacerbates booms and busts",
    "gold": "[Cause] substantial operating leverage [Relation] enable [Effect] it difficult for airlines to generate excess returns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, structural factors make it difficult for airlines to generate excess returns: a mostly undifferentiated product, a tendency for irrational competition, substantial operating leverage, and a tendency to employ financial leverage that exacerbates booms and busts.",
    "output": "[Cause] a mostly undifferentiated product [Relation] cause [Effect] it difficult for airlines to generate excess returns",
    "gold": "[Cause] a tendency to employ financial leverage that exacerbates booms and busts [Relation] enable [Effect] it difficult for airlines to generate excess returns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As with all medical device firms, there is always the risk of product defects or recalls that can lead to field actions to recover products, re-engineer solutions, altered manufacturing processes, and inventory that is written off.",
    "output": "[Cause] the risk of product defects or recalls [Relation] cause [Effect] field actions to recover products, re-engineer solutions, altered manufacturing processes, and inventory that is written off",
    "gold": "[Cause] the risk of product defects or recalls [Relation] cause [Effect] field actions to recover products, re-engineer solutions, altered manufacturing processes, and inventory that is written off",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The server virtualization market can be considered saturated, and we expect VMware's market share to remain stable in server virtualization.",
    "output": "[Cause] The server virtualization market can be considered saturated [Relation] cause [Effect] VMware's market share to remain stable in server virtualization",
    "gold": "[Cause] The server virtualization market can be considered saturated [Relation] cause [Effect] VMware's market share to remain stable in server virtualization",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, many public safety organizations (like 911 call centers) also utilize Nice's offerings, and these tend to be highly sticky, as replacing Nice's platform with a competitor's and risking missing a 911 call could literally be a matter of life or death.",
    "output": "[Cause] replacing Nice's platform with a competitor's and risking missing a 911 call could literally be a matter of life or death [Relation] cause [Effect] many public safety organizations (like 911 call centers) also utilize Nice's offerings, and these tend to be highly sticky",
    "gold": "[Cause] replacing Nice's platform with a competitor's and risking missing a 911 call could literally be a matter of life or death [Relation] cause [Effect] many public safety organizations (like 911 call centers) also utilize Nice's offerings, and these tend to be highly sticky",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This transition is accompanied by lower licensing sales, so the company will face a near-term dip in revenue during the transition.",
    "output": "[Cause] This transition is accompanied by lower licensing sales [Relation] cause [Effect] the company will face a near-term dip in revenue during the transition",
    "gold": "[Cause] This transition is accompanied by lower licensing sales [Relation] cause [Effect]  the company will face a near-term dip in revenue during the transition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think margins can expand in the wireline segment, as the FTTP network will allow for pricing power and cost savings, and remain flat in wireless as competition weighs on pricing power.",
    "output": "[Cause] competition weighs on pricing power [Relation] cause [Effect] remain flat in wireless",
    "gold": "[Cause] competition weighs on pricing power [Relation] cause [Effect] remain flat in wireless",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think margins can expand in the wireline segment, as the FTTP network will allow for pricing power and cost savings, and remain flat in wireless as competition weighs on pricing power.",
    "output": "[Cause] competition weighs on pricing power [Relation] cause [Effect] remain flat in wireless",
    "gold": "[Cause] the FTTP network will allow for pricing power and cost savings [Relation] cause [Effect]  margins can expand in the wireline segment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "When Melco Resorts' casino license expires, the firm may have to pay a large license renewal fee and higher gaming taxes, especially given the Macao government's past record of increasing gaming taxes.",
    "output": "[Cause] the Macao government's past record of increasing gaming taxes [Relation] cause [Effect] the firm may have to pay a large license renewal fee and higher gaming taxes",
    "gold": "[Cause] Melco Resorts' casino license expires [Relation] enable [Effect] to pay a large license renewal fee and higher gaming taxes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Like the semiconductor market in general, Marvell is subject to market cyclicality independent of its ability to effectively execute in its key markets and thus carries a significant level of risk.",
    "output": "[Cause] Marvell is subject to market cyclicality independent of its ability to effectively execute in its key markets [Relation] cause [Effect] carries a significant level of risk",
    "gold": "[Cause] Marvell is subject to market cyclicality independent of its ability to effectively execute in its key markets [Relation] cause [Effect] carries a significant level of risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We surmise that engineers are loath to swap out an analog or MCU from an existing design (again, only to save a few pennies on cost) because of the onerous redesign and retesting costs associated with the switch.",
    "output": "[Cause] the onerous redesign and retesting costs associated with the switch [Relation] cause [Effect] engineers are loath to swap out an analog or MCU from an existing design (again, only to save a few pennies on cost)",
    "gold": "[Cause] the onerous redesign and retesting costs associated with the switch [Relation] cause [Effect] engineers are loath to swap out an analog or MCU from an existing design (again, only to save a few pennies on cost)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The higher cost to acquire a new customer as opposed to keeping an existing one has increased companies' emphasis on providing exceptional call center operations to maximize lifetime customer value.",
    "output": "[Cause] The higher cost to acquire a new customer as opposed to keeping an existing one [Relation] cause [Effect] increased companies' emphasis on providing exceptional call center operations to maximize lifetime customer value",
    "gold": "[Cause] providing exceptional call center operations [Relation] enable [Effect]  maximize lifetime customer value",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, we think the company benefits from strong pricing in large agricultural equipment, largely due to the high sophistication of its machines.",
    "output": "[Cause] the high sophistication of its machines [Relation] cause [Effect] the company benefits from strong pricing in large agricultural equipment",
    "gold": "[Cause] the high sophistication of its machines [Relation] cause [Effect]  the company benefits from strong pricing in large agricultural equipment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Properties that distinguish themselves by offering better amenities, better services, higher-quality finishes, larger floorplans, and other desirable features generate additional demand in any market and further support higher rents and larger occupancy/rent increases.",
    "output": "[Cause] Properties that distinguish themselves by offering better amenities, better services, higher-quality finishes, larger floorplans, and other desirable features [Relation] cause [Effect] additional demand in any market",
    "gold": "[Cause] offering better amenities, better services, higher-quality finishes, larger floorplans, and other desirable features [Relation] enable [Effect] Properties that distinguish themselves",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Once all potash production comes from K3, which should occur in the early to mid-2020s, Mosaic is likely to become a low-cost potash producer.",
    "output": "[Cause] Once all potash production comes from K3, which should occur in the early to mid-2020s [Relation] cause [Effect] Mosaic is likely to become a low-cost potash producer",
    "gold": "[Cause] Once all potash production comes from K3, which should occur in the early to mid-2020s [Relation] enable [Effect]  Mosaic is likely to become a low-cost potash producer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also believe the ability to determine deposit pricing within the context of a complete business relationship leads to further cost advantages.",
    "output": "[Cause] the ability to determine deposit pricing within the context of a complete business relationship [Relation] cause [Effect] further cost advantages",
    "gold": "[Cause] the ability to determine deposit pricing within the context of a complete business relationship [Relation] enable [Effect] further cost advantages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its portfolio of long-running successful franchises allows the firm to monetize its intellectual property year after year by delivering content via sequels, expansion packs, and DLC, exemplified by the annual versions of Madden (over 25 annual editions) and FIFA (over 20 annual editions).",
    "output": "[Cause] delivering content via sequels, expansion packs, and DLC [Relation] enable [Effect] the firm to monetize its intellectual property year after year",
    "gold": "[Cause] delivering content via sequels, expansion packs, and DLC [Relation] cause [Effect] the firm to monetize its intellectual property year after year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Franchised and managed properties are higher-margin and less capital-intensive than owned properties, and Marriott's high exposure here results in higher relative ROICs, operating margins, and EBI growth versus key peer Hyatt, which has a larger ownership mix.",
    "output": "[Cause] Franchised and managed properties are higher-margin and less capital-intensive than owned properties, and Marriott's high exposure here [Relation] cause [Effect] higher relative ROICs, operating margins, and EBI growth versus key peer Hyatt, which has a larger ownership mix",
    "gold": "[Cause] owned properties, and Marriott's high exposure here results in higher relative ROICs, operating margins, and EBI growth versus key peer Hyatt, which has a larger ownership mix [Relation] cause [Effect] Franchised and managed properties are higher-margin and less capital-intensive",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast a five-year revenue CAGR of 37% through a rapidly growing customer base, more massive deals, strong retention rates, and customers buying additional security modules over time.",
    "output": "[Cause] a rapidly growing customer base, more massive deals, strong retention rates, and customers buying additional security modules over time [Relation] enable [Effect] a five-year revenue CAGR of 37%",
    "gold": "[Cause] a rapidly growing customer base, more massive deals, strong retention rates, and customers buying additional security modules over time [Relation] cause [Effect] a five-year revenue CAGR of 37%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Product distribution can be a tough business: Low barriers to entry combined with customer and supplier bargaining power can erode returns on invested capital.",
    "output": "[Cause] Low barriers to entry combined with customer and supplier bargaining power [Relation] cause [Effect] erode returns on invested capital",
    "gold": "[Cause]  Low barriers to entry combined with customer and supplier bargaining power [Relation] cause [Effect]  erode returns on invested capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "SolidWorks benefits from a significant network effect, in our view, given the extent to which it's taught in engineering programs worldwide, similar to Autodesk's strong network effect propelled by its presence in the top architecture and construction programs.",
    "output": "[Cause] the extent to which it's taught in engineering programs worldwide, similar to Autodesk's strong network effect propelled by its presence in the top architecture and construction programs [Relation] cause [Effect] SolidWorks benefits from a significant network effect",
    "gold": "[Cause] a significant network effect [Relation] enable [Effect] strong network effect propelled by its presence in the top architecture and construction programs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As the number of drivers increased, the timeliness and reliability of the service improved, which drove the number of riders and rides higher, which in turn attracted more drivers, all of which we believe is indicative of the direct network effect.",
    "output": "[Cause] the number of drivers increased [Relation] cause [Effect] the timeliness and reliability of the service improved",
    "gold": "[Cause] the number of drivers increased, the timeliness and reliability of the service improved [Relation] cause [Effect] drove the number of riders and rides higher",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As the number of drivers increased, the timeliness and reliability of the service improved, which drove the number of riders and rides higher, which in turn attracted more drivers, all of which we believe is indicative of the direct network effect.",
    "output": "[Cause] the number of drivers increased, the timeliness and reliability of the service improved [Relation] cause [Effect] the number of riders and rides higher",
    "gold": "[Cause] the number of riders and rides higher [Relation] cause [Effect] attracted more drivers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Recently, net interest margins compressed by more than 100 basis points, as benchmark interest rates have fallen and much of the bank's assets are variable rate.",
    "output": "[Cause] benchmark interest rates have fallen and much of the bank's assets are variable rate [Relation] cause [Effect] net interest margins compressed by more than 100 basis points",
    "gold": "[Cause] benchmark interest rates have fallen and much of the bank's assets are variable rate [Relation] cause [Effect] net interest margins compressed by more than 100 basis points",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that competition with five other major suppliers鈥攁nd a lack of pricing power鈥攑rohibits Western Digital from selling enough volume to earn sustainable excess returns on its large recurring investments in NAND production.",
    "output": "[Cause] competition with five other major suppliersnd a lack of pricing power [Relation] prevent [Effect] Western Digital from selling enough volume to earn sustainable excess returns on its large recurring investments in NAND production",
    "gold": "[Cause] competition with five other major suppliers鈥攁nd a lack of pricing power [Relation] prevent [Effect] selling enough volume to earn sustainable excess returns on its large recurring investments in NAND production",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "One of Deere's great strengths is the coverage of its dealer network, especially in North America, as farmers tend to develop long-term relationships with their local dealers.",
    "output": "[Cause] farmers tend to develop long-term relationships with their local dealers [Relation] cause [Effect] One of Deere's great strengths is the coverage of its dealer network",
    "gold": "[Cause] the coverage of its dealer network [Relation] enable [Effect]  great strengths",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, higher trading volume for equity securities in general, makes efficient trading easier to achieve and reduces the tendency for liquidity to pool.",
    "output": "[Cause] higher trading volume for equity securities in general [Relation] enable [Effect] efficient trading easier to achieve and reduces the tendency for liquidity to pool",
    "gold": "[Cause] higher trading volume for equity securities in general [Relation] enable [Effect] efficient trading easier to achieve and reduces the tendency for liquidity to pool",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "During the bidding process, contractors are looking for the most cost-effective solutions, but once construction begins, contractors are focused on completing the job on time and are therefore looking for quick and convenient access to necessary supplies.",
    "output": "[Cause] completing the job on time [Relation] cause [Effect] quick and convenient access to necessary supplies",
    "gold": "[Cause]  looking for quick and convenient access to necessary supplies [Relation] enable [Effect] completing the job on time",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The projects were already low return and capital intensive given the costs associated with timing, location and complexity, but their returns were depressed further by large cost over-runs.",
    "output": "[Cause] large cost over-runs [Relation] cause [Effect] their returns were depressed further",
    "gold": "[Cause]  large cost over-runs [Relation] cause [Effect] their returns were depressed further",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Constellation's foray into explosive-growth categories like hard seltzer are also demanding nontrivial investment, given the competitive intensity and brand equity already built up by the incumbents.",
    "output": "[Cause] the competitive intensity and brand equity already built up by the incumbents [Relation] cause [Effect] Constellation's foray into explosive-growth categories like hard seltzer are also demanding nontrivial investment",
    "gold": "[Cause] the competitive intensity and brand equity already built up by the incumbents [Relation] cause [Effect] Constellation's foray into explosive-growth categories like hard seltzer are also demanding nontrivial investment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customers have little incentive to Medical Instruments & Suppliesswitch to another equipment supplier because of the costs to retrain healthcare workers, and they can be reluctant to change a process that's working effectively.",
    "output": "[Cause] the costs to retrain healthcare workers [Relation] cause [Effect] Customers have little incentive to Medical Instruments & Suppliesswitch to another equipment supplier",
    "gold": "[Cause] the costs to retrain healthcare workers [Relation] cause [Effect] Customers have little incentive to Medical Instruments & Suppliesswitch to another equipment supplier",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customers have little incentive to Medical Instruments & Suppliesswitch to another equipment supplier because of the costs to retrain healthcare workers, and they can be reluctant to change a process that's working effectively.",
    "output": "[Cause] the costs to retrain healthcare workers [Relation] cause [Effect] Customers have little incentive to Medical Instruments & Suppliesswitch to another equipment supplier",
    "gold": "[Cause] they can be reluctant to change a process that's working effectively [Relation] cause [Effect] Customers have little incentive to Medical Instruments & Suppliesswitch to another equipment supplier",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A strong reputation makes it more likely that an investment bank will be selected as a bookrunner, capturing more of the profits from an underwriting deal, and this gives the firm an early opportunity to hire top revenue-generating talent.",
    "output": "[Cause] A strong reputation [Relation] enable [Effect] the firm an early opportunity to hire top revenue-generating talent",
    "gold": "[Cause] A strong reputation [Relation] enable [Effect]  the firm an early opportunity to hire top revenue-generating talent",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we think the office real estate industry is relatively stable in the short-term due to long multi-year lease lengths, cyclical shifts can have dramatic medium to long-term impacts.",
    "output": "[Cause] long multi-year lease lengths [Relation] cause [Effect] the office real estate industry is relatively stable in the short-term",
    "gold": "[Cause] long multi-year lease lengths [Relation] cause [Effect] the office real estate industry is relatively stable in the short-term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lastly, we believe the firm's conservative reputation is an asset, particularly in its wealth management segment, and any blow to this could harm the firm's brand and market positioning.",
    "output": "[Cause] any blow to this [Relation] cause [Effect] harm the firm's brand and market positioning",
    "gold": "[Cause] any blow to this [Relation] cause [Effect] harm the firm's brand and market positioning",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of its acquisition-heavy model, Roper uses nearly all its available free cash flow to purchase businesses, which keeps ROICs, including goodwill artificially low, despite the underlying improvement in the firm's cash returns.",
    "output": "[Cause] its acquisition-heavy model [Relation] cause [Effect] Roper uses nearly all its available free cash flow to purchase businesses",
    "gold": "[Cause]  its acquisition-heavy model [Relation] cause [Effect] Roper uses nearly all its available free cash flow to purchase businesses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of its acquisition-heavy model, Roper uses nearly all its available free cash flow to purchase businesses, which keeps ROICs, including goodwill artificially low, despite the underlying improvement in the firm's cash returns.",
    "output": "[Cause] Roper uses nearly all its available free cash flow to purchase businesses [Relation] cause [Effect] keeps ROICs, including goodwill artificially low",
    "gold": "[Cause] Roper uses nearly all its available free cash flow to purchase businesses [Relation] cause [Effect] keeps ROICs, including goodwill artificially low",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Training costs and a reluctance from government officials to experiment with competing radios, inhibit them from moving away from Motorola's products.",
    "output": "[Cause] Training costs and a reluctance from government officials to experiment with competing radios [Relation] prevent [Effect] them from moving away from Motorola's products",
    "gold": "[Cause] Training costs and a reluctance from government officials to experiment with competing radios [Relation] prevent [Effect] them from moving away from Motorola's products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Musk also owns about 21% of Tesla's stock and uses it as collateral for personal loans, which raises the risk of a large sale should he need to sell stock to repay debt.",
    "output": "[Cause] Musk also owns about 21% of Tesla's stock and uses it as collateral for personal loans [Relation] cause [Effect] raises the risk of a large sale should he need to sell stock to repay debt",
    "gold": "[Cause] Musk also owns about 21% of Tesla's stock and uses it as collateral for personal loans [Relation] enable [Effect]  raises the risk of a large sale should he need to sell stock to repay debt",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Ulta will outperform the broader cosmetics market due to its diversified merchandise, expanded prestige business, and differentiated services.",
    "output": "[Cause] its diversified merchandise, expanded prestige business, and differentiated services [Relation] cause [Effect] Ulta will outperform the broader cosmetics market",
    "gold": "[Cause] its diversified merchandise, expanded prestige business, and differentiated services [Relation] cause [Effect] Ulta will outperform the broader cosmetics market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the firm's entire business benefits from trends toward efficiency and connectivity, these are especially notable in cars, where shifts toward electric and autonomous vehicles provide lucrative opportunities for TE to sell into new vehicle sockets, like an onboard charger or advanced driver-assist system.",
    "output": "[Cause] shifts toward electric and autonomous vehicles provide lucrative opportunities for TE to sell into new vehicle sockets [Relation] enable [Effect] the firm's entire business benefits from trends toward efficiency and connectivity",
    "gold": "[Cause] shifts toward electric and autonomous vehicles [Relation] enable [Effect] provide lucrative opportunities for TE to sell into new vehicle sockets, like an onboard charger or advanced driver-assist system",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Its aerospace segment is known for its satellite capabilities in both government and private capacities, earning fairly consistent margins and growing at a rapid clip as management invests heavily in this niche business.",
    "output": "[Cause] management invests heavily in this niche business [Relation] cause [Effect] earning fairly consistent margins and growing at a rapid clip",
    "gold": "[Cause] management invests heavily in this niche business [Relation] cause [Effect] earning fairly consistent margins and growing at a rapid clip",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Today, we think Airbnb's core alternative accommodations network has reached a critical-mass advantage, which we believe is achieved when a company garners at least 10% demand share of a market, at which point it becomes increasingly challenging for smaller competitors to catch up.",
    "output": "[Cause] a company garners at least 10% demand share of a market [Relation] cause [Effect] it becomes increasingly challenging for smaller competitors to catch up",
    "gold": "[Cause] we think Airbnb's core alternative accommodations network has reached a critical-mass advantage [Relation] cause [Effect] it becomes increasingly challenging for smaller competitors to catch up",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As a result, this large self-controlled fulfilment infrastructure has enabled JD.com to deliver merchandise to its customers in a timely, reliable manner.",
    "output": "[Cause] this large self-controlled fulfilment infrastructure [Relation] enable [Effect] JD.com to deliver merchandise to its customers in a timely, reliable manner",
    "gold": "[Cause]  large self-controlled fulfilment infrastructure [Relation] enable [Effect] enabled JD.com to deliver merchandise to its customers in a timely",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over the next five years, we forecast operating margin contraction of 100 basis points, from 19% in 2021 to 18% in 2026, as COVID-19-specific boosts to profitability dwindle.",
    "output": "[Cause] COVID-19-specific boosts to profitability dwindle [Relation] cause [Effect] operating margin contraction of 100 basis points, from 19% in 2021 to 18% in 2026",
    "gold": "[Cause] COVID-19-specific boosts to profitability dwindle [Relation] cause [Effect]  operating margin contraction of 100 basis points, from 19% in 2021 to 18% in 2026",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect demand from aerospace customers to grow materially over our explicit forecast period as production of next-generation aircraft ramps up.",
    "output": "[Cause] production of next-generation aircraft ramps up [Relation] cause [Effect] demand from aerospace customers to grow materially over our explicit forecast period",
    "gold": "[Cause] production of next-generation aircraft ramps up [Relation] enable [Effect] demand from aerospace customers to grow materially over our explicit forecast period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that lack of confidence in the economy and social distancing exercised as the world deals with the coronavirus will lead to a major decline in merger activity.",
    "output": "[Cause] lack of confidence in the economy and social distancing exercised as the world deals with the coronavirus [Relation] cause [Effect] a major decline in merger activity",
    "gold": "[Cause] lack of confidence in the economy and social distancing exercised as the world deals with the coronavirus [Relation] cause [Effect] a major decline in merger activity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Longer term, we think global middle income class growth will drive demand once more and help GE commercial aviation recover lost sales by 2024 to year-end 2019 levels.",
    "output": "[Cause] global middle income class growth [Relation] enable [Effect] drive demand once more",
    "gold": "[Cause] global middle income class growth [Relation] enable [Effect] drive demand once more",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Longer term, we think global middle income class growth will drive demand once more and help GE commercial aviation recover lost sales by 2024 to year-end 2019 levels.",
    "output": "[Cause] global middle income class growth [Relation] enable [Effect] help GE commercial aviation recover lost sales by 2024 to year-end 2019 levels",
    "gold": "[Cause] drive demand once more [Relation] enable [Effect] help GE commercial aviation recover lost sales by 2024 to year-end 2019 levels",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Close to 85% of Lamb Weston's total revenue comes from the food-service channel, a segment being hit by current avoidance of public places to stem the spread of the coronavirus.",
    "output": "[Cause] current avoidance of public places [Relation] prevent [Effect] the spread of the coronavirus",
    "gold": "[Cause]  the spread of the coronavirus [Relation] cause [Effect] current avoidance of public places",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Close to 85% of Lamb Weston's total revenue comes from the food-service channel, a segment being hit by current avoidance of public places to stem the spread of the coronavirus.",
    "output": "[Cause] current avoidance of public places [Relation] prevent [Effect] the spread of the coronavirus",
    "gold": "[Cause] current avoidance of public places [Relation] cause [Effect] a segment being hit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Enterprise bought back $200 million in units in 2020, and we think it could easily buy back another $500 million in units in 2021, but management has been reluctant to commit to larger buybacks given the still uncertain market environment.",
    "output": "[Cause] the still uncertain market environment [Relation] cause [Effect] management has been reluctant to commit to larger buybacks",
    "gold": "[Cause] the still uncertain market environment [Relation] cause [Effect] management has been reluctant to commit to larger buybacks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, organic growth is likely to be strained in the near term by the impact that the ongoing spread of the coronavirus is expected to have on global economic growth and global equity markets.",
    "output": "[Cause] the ongoing spread of the coronavirus [Relation] cause [Effect] have on global economic growth and global equity markets",
    "gold": "[Cause] the ongoing spread of the coronavirus is expected to have on global economic growth and global equity markets [Relation] cause [Effect] organic growth is likely to be strained in the near term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, organic growth is likely to be strained in the near term by the impact that the ongoing spread of the coronavirus is expected to have on global economic growth and global equity markets.",
    "output": "[Cause] the ongoing spread of the coronavirus [Relation] cause [Effect] organic growth is likely to be strained in the near term",
    "gold": "[Cause] the ongoing spread of the coronavirus [Relation] prevent [Effect] global economic growth and global equity markets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Solid-state drives, or SSDs, have important performance benefits versus the older spinning disc media and as a result, HDDs have lost their luster for both PCs and servers.",
    "output": "[Cause] Solid-state drives, or SSDs, have important performance benefits versus the older spinning disc media [Relation] cause [Effect] HDDs have lost their luster for both PCs and servers",
    "gold": "[Cause] Solid-state drives, or SSDs, have important performance benefits versus the older spinning disc media [Relation] cause [Effect] HDDs have lost their luster for both PCs and servers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Between 2021 and 2024, we assume the firm can post organic top-line expansion over 5% as the economy normalizes and residential housing construction remains strong.",
    "output": "[Cause] the economy normalizes and residential housing construction remains strong [Relation] cause [Effect] the firm can post organic top-line expansion over 5%",
    "gold": "[Cause] the economy normalizes and residential housing construction remains strong [Relation] enable [Effect] the firm can post organic top-line expansion over 5%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that cybersecurity threats should perpetually increase, while becoming further sophisticated, as more data is created and dispersed away from centralized data centers.",
    "output": "[Cause] more data is created and dispersed away from centralized data centers [Relation] cause [Effect] cybersecurity threats should perpetually increase, while becoming further sophisticated",
    "gold": "[Cause] becoming further sophisticated, as more data is created and dispersed away from centralized data centers [Relation] cause [Effect] We believe that cybersecurity threats should perpetually increase",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "On the positive side, increasing demand for annuities from an aging population could help LPL retain brokerage assets in the medium term as it transitions to a more advisory-based model.",
    "output": "[Cause] increasing demand for annuities from an aging population [Relation] enable [Effect] help LPL retain brokerage assets in the medium term",
    "gold": "[Cause] an aging population [Relation] cause [Effect] increasing demand for annuities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "On the positive side, increasing demand for annuities from an aging population could help LPL retain brokerage assets in the medium term as it transitions to a more advisory-based model.",
    "output": "[Cause] it transitions to a more advisory-based model [Relation] cause [Effect] increasing demand for annuities from an aging population could help LPL retain brokerage assets in the medium term",
    "gold": "[Cause] increasing demand for annuities from an aging population [Relation] cause [Effect] help LPL retain brokerage assets in the medium term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "On the positive side, increasing demand for annuities from an aging population could help LPL retain brokerage assets in the medium term as it transitions to a more advisory-based model.",
    "output": "[Cause] it transitions to a more advisory-based model [Relation] cause [Effect] help LPL retain brokerage assets in the medium term",
    "gold": "[Cause] it transitions to a more advisory-based model [Relation] cause [Effect] help LPL retain brokerage assets in the medium term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "InterContinental's unit growth is lowered by the company's focus on brand quality that leads to annual closures of 2%-3% of its existing rooms.",
    "output": "[Cause] the company's focus on brand quality [Relation] cause [Effect] InterContinental's unit growth is lowered",
    "gold": "[Cause] the company's focus on brand quality [Relation] cause [Effect] InterContinental's unit growth is lowered",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Being vertically integrated provides a cost advantage when rock prices are high, as nonintegrated producers must purchase phosphate rock on the open market.",
    "output": "[Cause] nonintegrated producers must purchase phosphate rock on the open market [Relation] cause [Effect] Being vertically integrated provides a cost advantage when rock prices are high",
    "gold": "[Cause]  nonintegrated producers must purchase phosphate rock on the open market [Relation] cause [Effect] Being vertically integrated provides a cost advantage when rock prices are high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate solid 6% growth in the neuroscience segment through the next five years supported by growth of the spine business thanks to the addition of the Mazor robot, ongoing innovation in neurovascular devices, and new developments in closed-loop spinal cord stimulation.",
    "output": "[Cause] growth of the spine business [Relation] enable [Effect] solid 6% growth in the neuroscience segment through the next five years",
    "gold": "[Cause] the addition of the Mazor robot, ongoing innovation in neurovascular devices, and new developments in closed-loop spinal cord stimulation [Relation] enable [Effect] growth of the spine business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We anticipate solid 6% growth in the neuroscience segment through the next five years supported by growth of the spine business thanks to the addition of the Mazor robot, ongoing innovation in neurovascular devices, and new developments in closed-loop spinal cord stimulation.",
    "output": "[Cause] growth of the spine business [Relation] enable [Effect] solid 6% growth in the neuroscience segment through the next five years",
    "gold": "[Cause] growth of the spine business [Relation] enable [Effect] solid 6% growth in the neuroscience segment through the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Home Depot's operating margins and ROICs could improve as the firm focuses on the efficiency of the supply chain and the opportunity to better penetrate the pro business with market delivery centers that leverage its delivery capabilities.",
    "output": "[Cause] the firm focuses on the efficiency of the supply chain and the opportunity to better penetrate the pro business with market delivery centers that leverage its delivery capabilities [Relation] cause [Effect] Home Depot's operating margins and ROICs could improve",
    "gold": "[Cause] the firm focuses on the efficiency of the supply chain and the opportunity to better penetrate the pro business with market delivery centers that leverage its delivery capabilities [Relation] enable [Effect] Home Depot's operating margins and ROICs could improve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate credit costs will be higher in 2021, but given the firm's significant reserves, we don't expect the balance sheet to come under pressure in the immediate future.",
    "output": "[Cause] the firm's significant reserves [Relation] cause [Effect] we don't expect the balance sheet to come under pressure in the immediate future",
    "gold": "[Cause]  the firm's significant reserves [Relation] cause [Effect] we don't expect the balance sheet to come under pressure in the immediate future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also don't see a winner-take-all situation in the smartphone RF space, as handset makers have split their business enough among these RF firms to prevent a single firm from dominating the market over time.",
    "output": "[Cause] handset makers have split their business enough among these RF firms [Relation] prevent [Effect] a single firm from dominating the market over time",
    "gold": "[Cause] handset makers have split their business enough among these RF firms [Relation] cause [Effect] We also don't see a winner-take-all situation in the smartphone RF space",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also don't see a winner-take-all situation in the smartphone RF space, as handset makers have split their business enough among these RF firms to prevent a single firm from dominating the market over time.",
    "output": "[Cause] handset makers have split their business enough among these RF firms [Relation] prevent [Effect] a single firm from dominating the market over time",
    "gold": "[Cause] handset makers have split their business enough among these RF firms [Relation] prevent [Effect] a single firm from dominating the market over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While returns on capital will remain relatively low during the next couple of years, that is primarily due to depressed oil prices.",
    "output": "[Cause] depressed oil prices [Relation] cause [Effect] returns on capital will remain relatively low during the next couple of years",
    "gold": "[Cause] depressed oil prices [Relation] cause [Effect]  returns on capital will remain relatively low during the next couple of years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall revenue we expect will fall by 70% year over year to $121 million as the Imax global box office collapses to about $255 million, down 77% from 2019.",
    "output": "[Cause] the Imax global box office collapses to about $255 million, down 77% from 2019 [Relation] cause [Effect] Overall revenue we expect will fall by 70% year over year to $121 million",
    "gold": "[Cause] the Imax global box office collapses to about $255 million, down 77% from 2019 [Relation] cause [Effect] Overall revenue we expect will fall by 70% year over year to $121 million",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect revenue growth to average about 5% over the coming five years, excluding COVID-19 impacts. This is due to substantial exposure to emerging markets, where we expect higher long-run GDP growth rates and increased adhesive material penetration.",
    "output": "[Cause] substantial exposure to emerging markets, where we expect higher long-run GDP growth rates and increased adhesive material penetration [Relation] cause [Effect] revenue growth to average about 5% over the coming five years, excluding COVID-19 impacts",
    "gold": "[Cause] substantial exposure to emerging markets, where we expect higher long-run GDP growth rates and increased adhesive material penetration [Relation] cause [Effect]  revenue growth to average about 5% over the coming five years, excluding COVID-19 impacts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The large quantity of data collected by sensors is itself proprietary, since Parker can convert that data into algorithms that identify defective equipment and can trigger corrective action before catastrophe strikes.",
    "output": "[Cause] Parker can convert that data into algorithms that identify defective equipment and can trigger corrective action before catastrophe strikes [Relation] cause [Effect] The large quantity of data collected by sensors is itself proprietary",
    "gold": "[Cause] Parker can convert that data into algorithms that identify defective equipment and can trigger corrective action before catastrophe strikes [Relation] enable [Effect] The large quantity of data collected by sensors is itself proprietary",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the medical technology side, we project sales growing at a roughly 8% compound annual growth rate over the next five years, fueled by continued strong growth in the reconstructive product lines.",
    "output": "[Cause] continued strong growth in the reconstructive product lines [Relation] cause [Effect] sales growing at a roughly 8% compound annual growth rate over the next five years",
    "gold": "[Cause] continued strong growth in the reconstructive product lines [Relation] cause [Effect] sales growing at a roughly 8% compound annual growth rate over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The increase is attributable to the strong performance achieved in fiscal 2020-21, a lower tax rate due to divestments, and the annual roll of our model.",
    "output": "[Cause] divestments, and the annual roll of our model [Relation] cause [Effect] a lower tax rate",
    "gold": "[Cause] the strong performance achieved in fiscal 2020-21, a lower tax rate [Relation] cause [Effect] divestments, and the annual roll of our model",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "SocGen and its French peers benefit from the highest capital ratings in Europe outside of the Scandinavian banks, and consequently it also has some of the lowest credit default spreads in Europe.",
    "output": "[Cause] SocGen and its French peers benefit from the highest capital ratings in Europe outside of the Scandinavian banks [Relation] cause [Effect] it also has some of the lowest credit default spreads in Europe",
    "gold": "[Cause] SocGen and its French peers benefit from the highest capital ratings in Europe outside of the Scandinavian banks [Relation] enable [Effect]  it also has some of the lowest credit default spreads in Europe",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The outlook for Treehouse is still murky, as it remains beleaguered by competition and at the mercy of a consolidated customer base.",
    "output": "[Cause] it remains beleaguered by competition and at the mercy of a consolidated customer base [Relation] cause [Effect] The outlook for Treehouse is still murky",
    "gold": "[Cause]  it remains beleaguered by competition and at the mercy of a consolidated customer base [Relation] cause [Effect] The outlook for Treehouse is still murky",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In hindsight, the company likely overoptimized, owing to its overly optimistic internal forecasts about the sustainability of rig-building during the boom.",
    "output": "[Cause] its overly optimistic internal forecasts about the sustainability of rig-building during the boom [Relation] cause [Effect] the company likely overoptimized",
    "gold": "[Cause] its overly optimistic internal forecasts about the sustainability of rig-building during the boom [Relation] cause [Effect] the company likely overoptimized",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think, though, that Ralph Lauren's increasing emphasis on its direct-to-consumer business is important for the competitive position of its brand as department stores and other retailers have become too reliant on discounting.",
    "output": "[Cause] department stores and other retailers have become too reliant on discounting [Relation] cause [Effect] Ralph Lauren's increasing emphasis on its direct-to-consumer business is important for the competitive position of its brand",
    "gold": "[Cause] department stores and other retailers have become too reliant on discounting [Relation] enable [Effect] Ralph Lauren's increasing emphasis on its direct-to-consumer business is important for the competitive position of its brand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Horton went from earning $4.62 per diluted share in fiscal 2005 to losing $8.34 per diluted share in fiscal 2008 as the collapsing housing market resulted in drastic margin compression and large impairment charges.",
    "output": "[Cause] the collapsing housing market resulted in drastic margin compression and large impairment charges [Relation] cause [Effect] Horton went from earning $4.62 per diluted share in fiscal 2005 to losing $8.34 per diluted share in fiscal 2008",
    "gold": "[Cause] the collapsing housing market [Relation] enable [Effect] resulted in drastic margin compression and large impairment charges",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "ConocoPhillips also has growth options in Alaska and Canada thanks to the company's unconventional Montney position.",
    "output": "[Cause] the company's unconventional Montney position [Relation] cause [Effect] ConocoPhillips also has growth options in Alaska and Canada",
    "gold": "[Cause] the company's unconventional Montney position [Relation] cause [Effect] ConocoPhillips also has growth options in Alaska and Canada",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In part because of the favorable industry structures, and in part because of its 3G heritage, Ambev is a highly profitable business.",
    "output": "[Cause] the favorable industry structures [Relation] cause [Effect] Ambev is a highly profitable business",
    "gold": "[Cause]  the favorable industry structures [Relation] enable [Effect]  Ambev is a highly profitable business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In part because of the favorable industry structures, and in part because of its 3G heritage, Ambev is a highly profitable business.",
    "output": "[Cause] its 3G heritage [Relation] cause [Effect] Ambev is a highly profitable business",
    "gold": "[Cause]  its 3G heritage [Relation] enable [Effect]  the favorable industry structures",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With hardware becoming increasingly commoditized and replacement cycles potentially elongating in the long term, we expect Apple to focus on newer software and services to augment the user experience and retain customers.",
    "output": "[Cause] hardware becoming increasingly commoditized and replacement cycles potentially elongating in the long term [Relation] cause [Effect] Apple to focus on newer software and services to augment the user experience and retain customers",
    "gold": "[Cause] Apple to focus on newer software and services [Relation] cause [Effect] augment the user experience and retain customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Even for intermodal container freight, which consists largely of consumer-related products, rail has historically been cheaper than its key competitor truckload shipping on average over the cycle thanks to the rails' aforementioned fuel efficiency and more economical use of labor.",
    "output": "[Cause] the rails' aforementioned fuel efficiency and more economical use of labor [Relation] cause [Effect] rail has historically been cheaper than its key competitor truckload shipping on average over the cycle",
    "gold": "[Cause] the rails' aforementioned fuel efficiency and more economical use of labor [Relation] cause [Effect] rail has historically been cheaper than its key competitor truckload shipping on average over the cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since private-label brands boost profit margins, we believe distributors that offer such products have a cost advantage over those that do not sell private-label brands.",
    "output": "[Cause] private-label brands boost profit margins [Relation] cause [Effect] distributors that offer such products have a cost advantage over those that do not sell private-label brands",
    "gold": "[Cause] private-label brands boost profit margins [Relation] cause [Effect] distributors that offer such products have a cost advantage over those that do not sell private-label brands",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If new competitors cut into Qiagen's share of the nonskin test market without a substantial increase in skin test conversions, Qiagen's revenue and economic profitability may drop eventually.",
    "output": "[Cause] new competitors cut into Qiagen's share of the nonskin test market without a substantial increase in skin test conversions [Relation] cause [Effect] Qiagen's revenue and economic profitability may drop eventually",
    "gold": "[Cause]  new competitors cut into Qiagen's share of the nonskin test market without a substantial increase in skin test conversions [Relation] cause [Effect]  Qiagen's revenue and economic profitability may drop eventually",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Beyond those effects, if patients lose their employer-based insurance for a sustainable period, Tenet's hospital services may be reimbursed at significantly lower rates on average, which would negatively affect profitability, as well.",
    "output": "[Cause] patients lose their employer-based insurance for a sustainable period [Relation] cause [Effect] Tenet's hospital services may be reimbursed at significantly lower rates on average",
    "gold": "[Cause] patients lose their employer-based insurance for a sustainable period [Relation] cause [Effect] Tenet's hospital services may be reimbursed at significantly lower rates on average",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Beyond those effects, if patients lose their employer-based insurance for a sustainable period, Tenet's hospital services may be reimbursed at significantly lower rates on average, which would negatively affect profitability, as well.",
    "output": "[Cause] Tenet's hospital services may be reimbursed at significantly lower rates on average [Relation] cause [Effect] negatively affect profitability",
    "gold": "[Cause] Tenet's hospital services may be reimbursed at significantly lower rates on average [Relation] cause [Effect] negatively affect profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Managed and franchised hotels have low fixed costs and capital requirements, along with contracts lasting 20 years that have meaningful cancelation costs for owners.",
    "output": "[Cause] Managed and franchised hotels have low fixed costs and capital requirements, along with contracts lasting 20 years [Relation] enable [Effect] have meaningful cancelation costs for owners",
    "gold": "[Cause] Managed and franchised hotels have low fixed costs and capital requirements, along with contracts lasting 20 years [Relation] enable [Effect] have meaningful cancelation costs for owners",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The wealth-management segment also earns strong returns on equity, and large inflows have led to a top market position.",
    "output": "[Cause] large inflows [Relation] cause [Effect] a top market position",
    "gold": "[Cause] large inflows [Relation] cause [Effect] a top market position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to the fragmentation, companies often require extensive training when orienting new hires rather than expecting new graduates to already be trained on their software of choice.",
    "output": "[Cause] the fragmentation [Relation] cause [Effect] companies often require extensive training when orienting new hires rather than expecting new graduates to already be trained on their software of choice",
    "gold": "[Cause] the fragmentation [Relation] cause [Effect] companies often require extensive training when orienting new hires rather than expecting new graduates to already be trained on their software of choice",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The existing players' positioning is very defensible, with most practitioners rarely switching to competitors' products because of inertia as well as up-front training costs.",
    "output": "[Cause] inertia as well as up-front training costs [Relation] cause [Effect] most practitioners rarely switching to competitors' products",
    "gold": "[Cause]  inertia as well as up-front training costs [Relation] cause [Effect] most practitioners rarely switching to competitors' products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the company integrates the higher margin Cytiva business and controls costs in general, we project that the firm's profitability should continue rising, causing earnings per share growth to grow 11% compounded annually during the next five years, despite the dilutive actions associated with financing the Cytiva deal.",
    "output": "[Cause] the company integrates the higher margin Cytiva business and controls costs in general [Relation] cause [Effect] the firm's profitability should continue rising, causing earnings per share growth to grow 11% compounded annually during the next five years",
    "gold": "[Cause] profitability should continue rising [Relation] cause [Effect]  earnings per share growth to grow 11%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We do not model any contribution from the very early pipeline, as these candidates have not yet entered human trials.",
    "output": "[Cause] these candidates have not yet entered human trials [Relation] cause [Effect] We do not model any contribution from the very early pipeline",
    "gold": "[Cause] these candidates have not yet entered human trials [Relation] cause [Effect] We do not model any contribution from the very early pipeline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, we expect South America margins to expand as economic growth stabilizes and higher capacity utilization drives the benefits of operating leverage.",
    "output": "[Cause] economic growth stabilizes and higher capacity utilization drives the benefits of operating leverage [Relation] cause [Effect] South America margins to expand",
    "gold": "[Cause] economic growth stabilizes and higher capacity utilization drives the benefits of operating leverage [Relation] cause [Effect] South America margins to expand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the importance of security, especially in the increasingly digitized world, such a disruption could be dangerous for business operations and lead to a data breach that could impede customer trust in the company.",
    "output": "[Cause] such a disruption could be dangerous for business operations [Relation] cause [Effect] a data breach that could impede customer trust in the company",
    "gold": "[Cause] such a disruption could be dangerous for business operations [Relation] cause [Effect] a data breach that could impede customer trust in the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As WW becomes a more comprehensive health and wellness solution (including attracting consumers outside of its core membership platforms and adoption of licensed products, travel/leisure, technology and B2B partnerships), we believe it can sustain 3%-4% top-line growth from 2021-24. This assumes high-single-digit online revenue growth and low- to mid-single-digit physical studio revenue declines due to legacy studio closures, partly offset by new margin-accretive store format partnerships.",
    "output": "[Cause] WW becomes a more comprehensive health and wellness solution (including attracting consumers outside of its core membership platforms and adoption of licensed products, travel/leisure, technology and B2B partnerships), we believe it can sustain 3%-4% top-line growth from 2021-24 [Relation] cause [Effect] high-single-digit online revenue growth and low- to mid-single-digit physical studio revenue declines due to legacy studio closures, partly offset by new margin-accretive store format partnerships",
    "gold": "[Cause] WW becomes a more comprehensive health and wellness solution (including attracting consumers outside of its core membership platforms and adoption of licensed products, travel/leisure, technology and B2B partnerships), we believe it can sustain 3%-4% top-line growth from 2021-24 [Relation] cause [Effect]  high-single-digit online revenue growth and low- to mid-single-digit physical studio revenue declines due to legacy studio closures, partly offset by new margin-accretive store format partnerships",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Fortinet to continue adding capabilities to its Security Fabric platform, which helps extract additional revenue per customer while diversifying the company away from its reliance on selling security appliances.",
    "output": "[Cause] Fortinet to continue adding capabilities to its Security Fabric platform [Relation] enable [Effect] helps extract additional revenue per customer while diversifying the company away from its reliance on selling security appliances",
    "gold": "[Cause] Fortinet to continue adding capabilities to its Security Fabric platform [Relation] cause [Effect] helps extract additional revenue per customer while diversifying the company away from its reliance on selling security appliances",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thus, for Amazon to offer delivery to the broader marketplace, its investment in network capabilities would very likely have to swell to even more lofty levels.",
    "output": "[Cause] its investment in network capabilities would very likely have to swell to even more lofty levels [Relation] enable [Effect] Amazon to offer delivery to the broader marketplace",
    "gold": "[Cause] its investment in network capabilities would very likely have to swell to even more lofty levels [Relation] enable [Effect] Amazon to offer delivery to the broader marketplace",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Utility regulation in Hawaii includes sales-decoupling mechanisms that for the most part shield utility earnings from lower sales due to residential rooftop solar growth.",
    "output": "[Cause] residential rooftop solar growth [Relation] cause [Effect] Utility regulation in Hawaii includes sales-decoupling mechanisms that for the most part shield utility earnings from lower sales",
    "gold": "[Cause] residential rooftop solar growth [Relation] cause [Effect] Utility regulation in Hawaii includes sales-decoupling mechanisms that for the most part shield utility earnings from lower sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We appreciate management's attempts to reaccelerate Marketplace GMV growth with increased marketing and changes to its search engine listing formats and expect near-term GMV trends to benefit from near-term COVID-19-related shelter-in-place regulations.",
    "output": "[Cause] management's attempts to reaccelerate Marketplace GMV growth with increased marketing and changes to its search engine listing formats [Relation] enable [Effect] near-term GMV trends to benefit from near-term COVID-19-related shelter-in-place regulations",
    "gold": "[Cause] management's attempts to reaccelerate Marketplace GMV growth with increased marketing and changes to its search engine listing formats [Relation] enable [Effect] near-term GMV trends to benefit from near-term COVID-19-related shelter-in-place regulations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that the time and effort required for a new competitor to enter this market is a steep enough barrier that most would-be competitors are not willing to enter the market.",
    "output": "[Cause] the time and effort required for a new competitor to enter this market is a steep enough barrier [Relation] cause [Effect] most would-be competitors are not willing to enter the market",
    "gold": "[Cause] most would-be competitors are not willing to enter the market [Relation] cause [Effect] the time and effort required for a new competitor to enter this market is a steep enough barrier",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the firm's fiscal year ends in June, we project much of the impact of COVID-19 will hit Fox in fiscal 2021.",
    "output": "[Cause] the firm's fiscal year ends in June [Relation] cause [Effect] much of the impact of COVID-19 will hit Fox in fiscal 2021",
    "gold": "[Cause] the firm's fiscal year ends in June [Relation] cause [Effect] much of the impact of COVID-19 will hit Fox in fiscal 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Most of Eversource's rates are decoupled from usage, mitigating the effects from a drop-off in energy demand in 2020 due to COVID-19 precautions.",
    "output": "[Cause] Most of Eversource's rates are decoupled from usage [Relation] cause [Effect] mitigating the effects from a drop-off in energy demand in 2020",
    "gold": "[Cause] COVID-19 precautions [Relation] cause [Effect] a drop-off in energy demand in 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe loan growth should eventually pick up as the economy recovers and opportunities present themselves in Comerica's less established markets of California and Texas.",
    "output": "[Cause] the economy recovers and opportunities present themselves in Comerica's less established markets of California and Texas [Relation] cause [Effect] loan growth should eventually pick up",
    "gold": "[Cause] the economy recovers and opportunities present themselves in Comerica's less established markets of California and Texas [Relation] cause [Effect] loan growth should eventually pick up",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, global travel has waned as a result of coronavirus, potentially leading to longer-term secular shifts in consumer behavior, challenging the economic performance of Carnival over an extended horizon.",
    "output": "[Cause] coronavirus [Relation] cause [Effect] global travel has waned",
    "gold": "[Cause] However, global travel has waned as a result of coronavirus [Relation] enable [Effect] potentially leading to longer-term secular shifts in consumer behavior, challenging the economic performance of Carnival over an extended horizon",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "At the time, we thought there was too much focus by investors on the importance of the S&amp;L segment (at midcycle 8%-10% of EBITDA), which can report very volatile results, and a lack of appreciation for the quality of Plains' fee-based asset base.",
    "output": "[Cause] there was too much focus by investors on the importance of the S&amp;L segment (at midcycle 8%-10% of EBITDA) [Relation] cause [Effect] report very volatile results, and a lack of appreciation for the quality of Plains' fee-based asset base",
    "gold": "[Cause] very volatile results, and a lack of appreciation for the quality of Plains' fee-based asset base [Relation] cause [Effect]  there was too much focus by investors on the importance of the S&amp;L segment (at midcycle 8%-10% of EBITDA)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, Cerner's healthcare expertise and reputation are paramount, as privacy or reimbursement complications could be a detriment to operations in a highly regulated market.",
    "output": "[Cause] privacy or reimbursement complications could be a detriment to operations in a highly regulated market [Relation] cause [Effect] Cerner's healthcare expertise and reputation are paramount",
    "gold": "[Cause]  privacy or reimbursement complications could be a detriment to operations in a highly regulated market [Relation] cause [Effect] Cerner's healthcare expertise and reputation are paramount",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also believe NetApp can capitalize on enterprises shifting to public and hybrid clouds by offering seamless transitions through its hyperscale partnerships and cloud-based software suites.",
    "output": "[Cause] offering seamless transitions through its hyperscale partnerships and cloud-based software suites [Relation] enable [Effect] NetApp can capitalize on enterprises shifting to public and hybrid clouds",
    "gold": "[Cause] offering seamless transitions through its hyperscale partnerships and cloud-based software suites [Relation] enable [Effect] NetApp can capitalize on enterprises shifting to public and hybrid clouds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Duperreault intends to pivot toward growth, we think AIG's size and the maturity of the industry will limit organic opportunities.",
    "output": "[Cause] AIG's size and the maturity of the industry [Relation] prevent [Effect] organic opportunities",
    "gold": "[Cause] AIG's size and the maturity of the industry [Relation] prevent [Effect] organic opportunities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect a sharp rebound in margins in 2021 with economic recovery and tight supply in some of BASF's commodity markets, which should normalize in 2022.",
    "output": "[Cause] economic recovery and tight supply in some of BASF's commodity markets [Relation] cause [Effect] a sharp rebound in margins in 2021",
    "gold": "[Cause] economic recovery and tight supply in some of BASF's commodity markets [Relation] cause [Effect]  a sharp rebound in margins in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We don't think bankruptcy is imminent because the firm does not have large nonaircraft debt maturities coming due until 2022.",
    "output": "[Cause] the firm does not have large nonaircraft debt maturities coming due until 2022 [Relation] cause [Effect] We don't think bankruptcy is imminent",
    "gold": "[Cause] the firm does not have large nonaircraft debt maturities coming due until 2022 [Relation] cause [Effect] We don't think bankruptcy is imminent",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are increasing our fair value estimate to $229 from $221 per share, mainly due to time value since our last update.",
    "output": "[Cause] time value since our last update [Relation] cause [Effect] We are increasing our fair value estimate to $229 from $221 per share",
    "gold": "[Cause]  time value since our last update [Relation] enable [Effect] We are increasing our fair value estimate to $229 from $221 per share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the proximity division, our forecast of a roughly 9% sales CAGR through 2025 is predominantly attributable to same-store sales (we model roughly 5.5% growth on average), which in turn skews toward growth in average customer ticket.",
    "output": "[Cause] same-store sales [Relation] cause [Effect] our forecast of a roughly 9% sales CAGR through 2025",
    "gold": "[Cause] our forecast of a roughly 9% sales CAGR through 2025 is predominantly [Relation] enable [Effect] skews toward growth in average customer ticket",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The animal health industry had long been largely ignored because these businesses were buried within larger human health companies, but no longer.",
    "output": "[Cause] these businesses were buried within larger human health companies [Relation] cause [Effect] The animal health industry had long been largely ignored",
    "gold": "[Cause]  these businesses were buried within larger human health companies [Relation] cause [Effect] The animal health industry had long been largely ignored",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For reference, Toys 'R' Us, which declared bankruptcy in 2018, had represented 8% of sales in 2017, hindering 2017 holiday season sales (representing around 30%-40% of the 9% sales decline in 2017), and further weighed on growth as the business liquidated in 2018.",
    "output": "[Cause] the business liquidated in 2018 [Relation] cause [Effect] further weighed on growth",
    "gold": "[Cause] the business liquidated in 2018 [Relation] cause [Effect] further weighed on growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For reference, Toys 'R' Us, which declared bankruptcy in 2018, had represented 8% of sales in 2017, hindering 2017 holiday season sales (representing around 30%-40% of the 9% sales decline in 2017), and further weighed on growth as the business liquidated in 2018.",
    "output": "[Cause] the business liquidated in 2018 [Relation] cause [Effect] further weighed on growth",
    "gold": "[Cause] declared bankruptcy in 2018 [Relation] prevent [Effect] hindering 2017 holiday season sales",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, broadband pricing is low in Mexico, which allows for price increases in the near to medium term as internet access becomes even more a necessity for Mexican households.",
    "output": "[Cause] internet access becomes even more a necessity for Mexican households [Relation] cause [Effect] broadband pricing is low in Mexico, which allows for price increases in the near to medium term",
    "gold": "[Cause]  allows for price increases in the near to medium term [Relation] cause [Effect] internet access becomes even more a necessity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company lacks efficient scale or cost advantage as its production and distribution systems are like those of most apparel companies.",
    "output": "[Cause] its production and distribution systems are like those of most apparel companies [Relation] cause [Effect] The company lacks efficient scale or cost advantage",
    "gold": "[Cause] its production and distribution systems are like those of most apparel companies [Relation] cause [Effect] The company lacks efficient scale or cost advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume that the coronavirus will cause occupancy to remain under 90% through the end of 2022, though occupancy will increase over the coming years back to a 92.5% level.",
    "output": "[Cause] the coronavirus [Relation] cause [Effect] occupancy to remain under 90% through the end of 2022",
    "gold": "[Cause] the coronavirus [Relation] cause [Effect] occupancy to remain under 90% through the end of 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In short, we think its global footprint and vast network of shippers and carriers creates a robust value proposition to shippers that would be very difficult to replicate.",
    "output": "[Cause] its global footprint and vast network of shippers and carriers [Relation] enable [Effect] creates a robust value proposition to shippers",
    "gold": "[Cause]  its global footprint and vast network of shippers and carriers [Relation] enable [Effect] creates a robust value proposition to shippers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But after incorporating costs sunk on leasehold, acquisitions, exploration, and infrastructure, Range's capital base inflates to a level that makes high returns on capital very difficult.",
    "output": "[Cause] incorporating costs sunk on leasehold, acquisitions, exploration, and infrastructure [Relation] cause [Effect] Range's capital base inflates to a level that makes high returns on capital very difficult",
    "gold": "[Cause]  incorporating costs sunk on leasehold, acquisitions, exploration, and infrastructure [Relation] cause [Effect]  Range's capital base inflates to a level that makes high returns on capital very difficult",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nevertheless, Corning operates numerous plants with each of its large customers, typically with multiyear supply agreements, which we think insulate it against the risk of losing an entire customer relationship.",
    "output": "[Cause] Corning operates numerous plants with each of its large customers, typically with multiyear supply agreements [Relation] prevent [Effect] the risk of losing an entire customer relationship",
    "gold": "[Cause] Corning operates numerous plants with each of its large customers, typically with multiyear supply agreements [Relation] prevent [Effect]  the risk of losing an entire customer relationship",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "BRP is the industry leader in both snowmobiles and personal watercraft, indicating that brand equity resonates with consumers, which should ultimately allow the firm to charge competitive prices.",
    "output": "[Cause] BRP is the industry leader in both snowmobiles and personal watercraft [Relation] cause [Effect] indicating that brand equity resonates with consumers",
    "gold": "[Cause] BRP is the industry leader in both snowmobiles and personal watercraft [Relation] cause [Effect] indicating that brand equity resonates with consumers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "BRP is the industry leader in both snowmobiles and personal watercraft, indicating that brand equity resonates with consumers, which should ultimately allow the firm to charge competitive prices.",
    "output": "[Cause] indicating that brand equity resonates with consumers [Relation] enable [Effect] the firm to charge competitive prices",
    "gold": "[Cause] indicating that brand equity resonates with consumers [Relation] enable [Effect] the firm to charge competitive prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "FiOS is particularly relevant to Altice USA because its Cablevision unit, which accounts for about 60% of the business, serves New York exclusively.",
    "output": "[Cause] its Cablevision unit, which accounts for about 60% of the business, serves New York exclusively [Relation] cause [Effect] FiOS is particularly relevant to Altice USA",
    "gold": "[Cause] its Cablevision unit, which accounts for about 60% of the business, serves New York exclusively [Relation] cause [Effect] FiOS is particularly relevant to Altice USA",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Intuit's revenue growth to outpace its growth in sales and marketing expense in the years ahead, leading to operating leverage and rising operating margins.",
    "output": "[Cause] Intuit's revenue growth to outpace its growth in sales and marketing expense in the years ahead [Relation] cause [Effect] operating leverage and rising operating margins",
    "gold": "[Cause]  Intuit's revenue growth to outpace its growth in sales and marketing expense in the years ahead [Relation] cause [Effect] operating leverage and rising operating margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, we believe revenue growth in the 18% range can be expected from the consumer end market as the firm continues to grow in consumer electronics like gaming consoles while also penetrating more high-value opportunities in appliances.",
    "output": "[Cause] the firm continues to grow in consumer electronics like gaming consoles while also penetrating more high-value opportunities in appliances [Relation] cause [Effect] revenue growth in the 18% range can be expected from the consumer end market",
    "gold": "[Cause]  the firm continues to grow in consumer electronics like gaming consoles while also penetrating more high-value opportunities in appliances [Relation] cause [Effect] revenue growth in the 18% range can be expected from the consumer end market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As more television viewing shifts online and to mobile devices, however, consumer viewing habits could shift in unpredictable ways that favor newer content models.",
    "output": "[Cause] more television viewing shifts online and to mobile devices [Relation] cause [Effect] consumer viewing habits could shift in unpredictable ways",
    "gold": "[Cause]  more television viewing shifts online and to mobile devices [Relation] cause [Effect] consumer viewing habits could shift in unpredictable ways",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As more television viewing shifts online and to mobile devices, however, consumer viewing habits could shift in unpredictable ways that favor newer content models.",
    "output": "[Cause] consumer viewing habits could shift in unpredictable ways [Relation] cause [Effect] favor newer content models",
    "gold": "[Cause] consumer viewing habits could shift in unpredictable ways [Relation] enable [Effect]  favor newer content models",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the aggregate, this implies more facilities, production lines, or at the very minimum, production line changeover, which constrains the level of fixed cost leverage that can be achieved.",
    "output": "[Cause] more facilities, production lines, or at the very minimum, production line changeover [Relation] prevent [Effect] the level of fixed cost leverage that can be achieved",
    "gold": "[Cause] more facilities, production lines, or at the very minimum, production line changeover [Relation] prevent [Effect] the level of fixed cost leverage that can be achieved",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a fast-turning inventory of high-value branded merchandise, Ross' store experience and value proposition should continue to resonate as the pandemic ebbs.",
    "output": "[Cause] a fast-turning inventory of high-value branded merchandise [Relation] cause [Effect] Ross' store experience and value proposition should continue to resonate",
    "gold": "[Cause] a fast-turning inventory of high-value branded merchandise [Relation] cause [Effect] Ross' store experience and value proposition should continue to resonate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a fast-turning inventory of high-value branded merchandise, Ross' store experience and value proposition should continue to resonate as the pandemic ebbs.",
    "output": "[Cause] the pandemic ebbs [Relation] cause [Effect] Ross' store experience and value proposition should continue to resonate",
    "gold": "[Cause] the pandemic ebbs [Relation] cause [Effect] Ross' store experience and value proposition should continue to resonate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management further believes that Zoom's opportunity is larger, as video penetration can increase materially as users experience the platform's ease of use and robust features.",
    "output": "[Cause] video penetration can increase materially [Relation] cause [Effect] Zoom's opportunity is larger",
    "gold": "[Cause] users experience the platform's ease of use and robust features [Relation] cause [Effect]  video penetration can increase materially",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Management further believes that Zoom's opportunity is larger, as video penetration can increase materially as users experience the platform's ease of use and robust features.",
    "output": "[Cause] users experience the platform's ease of use and robust features [Relation] cause [Effect] video penetration can increase materially",
    "gold": "[Cause]  video penetration can increase materially [Relation] cause [Effect] Zoom's opportunity is larger",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Wide-body aircraft face a prolonged recovery from COVID-19 and are increasingly displaced by narrow-body aircraft due to technical advances and structural shifts in demand patterns.",
    "output": "[Cause] technical advances and structural shifts in demand patterns [Relation] cause [Effect] Wide-body aircraft face a prolonged recovery from COVID-19 and are increasingly displaced by narrow-body aircraft",
    "gold": "[Cause] technical advances and structural shifts in demand patterns [Relation] cause [Effect] Wide-body aircraft face a prolonged recovery from COVID-19 and are increasingly displaced by narrow-body aircraft",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Revenue will rise thanks to a growing number of restaurants, diners, and orders, partially offset by the firm's take rate, which we have assumed will grow at only about 2% per year.",
    "output": "[Cause] a growing number of restaurants, diners, and orders [Relation] cause [Effect] Revenue will rise",
    "gold": "[Cause] a growing number of restaurants, diners, and orders [Relation] cause [Effect] Revenue will rise",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Though recently relaxed, requirements to source a set amount of equipment from Brazil can result in cost overruns and delays in developing reserves.",
    "output": "[Cause] requirements to source a set amount of equipment from Brazil [Relation] cause [Effect] cost overruns and delays in developing reserves",
    "gold": "[Cause] requirements to source a set amount of equipment from Brazil [Relation] cause [Effect] cost overruns and delays in developing reserves",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At Goderich, Compass mines deposits that are 100 feet thick, compared with many competing mines whose seams are only 20-30 feet thick. This allows Compass to use more efficient mining techniques and remove more salt for each foot advanced in the mine.",
    "output": "[Cause] Compass mines deposits that are 100 feet thick, compared with many competing mines whose seams are only 20-30 feet thick [Relation] enable [Effect] Compass to use more efficient mining techniques and remove more salt for each foot advanced in the mine",
    "gold": "[Cause] Compass mines deposits that are 100 feet thick, compared with many competing mines whose seams are only 20-30 feet thick [Relation] enable [Effect] Compass to use more efficient mining techniques and remove more salt for each foot advanced in the mine",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the synergy target remains achievable, particularly as the firm is led by a management team with an impressive record.",
    "output": "[Cause] the firm is led by a management team with an impressive record [Relation] cause [Effect] the synergy target remains achievable",
    "gold": "[Cause]  the firm is led by a management team with an impressive record [Relation] cause [Effect]  the synergy target remains achievable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With nonexistent customer switching costs and intense competition, we've already seen several retailers exit the industry while a host of others struggle to reverse deteriorating fundamentals.",
    "output": "[Cause] nonexistent customer switching costs and intense competition [Relation] cause [Effect] several retailers exit the industry while a host of others struggle to reverse deteriorating fundamentals",
    "gold": "[Cause] nonexistent customer switching costs and intense competition [Relation] cause [Effect] several retailers exit the industry while a host of others struggle to reverse deteriorating fundamentals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The academic and government spending environment in the United States and Western Europe may remain constrained over a long period, negatively affecting demand for the firm's research instrumentation.",
    "output": "[Cause] The academic and government spending environment in the United States and Western Europe may remain constrained over a long period [Relation] prevent [Effect] demand for the firm's research instrumentation",
    "gold": "[Cause] The academic and government spending environment in the United States and Western Europe may remain constrained over a long period [Relation] prevent [Effect] demand for the firm's research instrumentation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We bake in low-double-digit growth for Paragard, as we think the product will benefit from shifting family planning preferences, demographic dynamics, and an improved safety perception among obstetricians and consumers in the U.S.",
    "output": "[Cause] the product will benefit from shifting family planning preferences, demographic dynamics, and an improved safety perception among obstetricians and consumers in the U.S [Relation] cause [Effect] We bake in low-double-digit growth for Paragard",
    "gold": "[Cause] the product will benefit from shifting family planning preferences, demographic dynamics, and an improved safety perception among obstetricians and consumers in the U.S [Relation] cause [Effect] We bake in low-double-digit growth for Paragard",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the company added features and continually honed the product and would-be buyers became more comfortable with SaaS, it evolved into an enterprise class product.",
    "output": "[Cause] the company added features and continually honed the product [Relation] enable [Effect] would-be buyers became more comfortable with SaaS",
    "gold": "[Cause] the company added features and continually honed the product [Relation] enable [Effect] would-be buyers became more comfortable with SaaS",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the company added features and continually honed the product and would-be buyers became more comfortable with SaaS, it evolved into an enterprise class product.",
    "output": "[Cause] the company added features and continually honed the product [Relation] enable [Effect] would-be buyers became more comfortable with SaaS",
    "gold": "[Cause] would-be buyers became more comfortable with SaaS [Relation] cause [Effect] it evolved into an enterprise class product",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "During periods of economic stress, consumers typically pull back on making new vehicle purchases, opting to keep their current vehicles longer.",
    "output": "[Cause] economic stress [Relation] cause [Effect] consumers typically pull back on making new vehicle purchases, opting to keep their current vehicles longer",
    "gold": "[Cause] economic stress [Relation] enable [Effect]  consumers typically pull back on making new vehicle purchases, opting to keep their current vehicles longer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The position it forged as a trusted supplier through strong relationships with governments allow it, and other large incumbents, to identify emerging trends and opportunities in the defense market.",
    "output": "[Cause] The position it forged as a trusted supplier through strong relationships with governments [Relation] enable [Effect] it, and other large incumbents, to identify emerging trends and opportunities in the defense market",
    "gold": "[Cause] The position it forged as a trusted supplier through strong relationships with governments [Relation] enable [Effect]  it, and other large incumbents, to identify emerging trends and opportunities in the defense market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, the framework of a license in Japan is still undetermined and could negatively impact the profitability and intrinsic value of the company.",
    "output": "[Cause] the framework of a license in Japan is still undetermined [Relation] cause [Effect] negatively impact the profitability and intrinsic value of the company",
    "gold": "[Cause] the framework of a license in Japan is still undetermined [Relation] cause [Effect]  negatively impact the profitability and intrinsic value of the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nasdaq is also benefiting from tailwinds in its index and listings business, and we see good medium-term growth opportunities for the company.",
    "output": "[Cause] tailwinds in its index and listings business [Relation] cause [Effect] good medium-term growth opportunities for the company",
    "gold": "[Cause]  tailwinds in its index and listings business [Relation] cause [Effect]  good medium-term growth opportunities for the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "More recently, it looks like the firm could lose upward of $300 million in annual revenue and around $50 million-$60 million in operating income annually as long as fee waivers are required in the aftermath of the COVID-19 outbreak and subsequent recession.",
    "output": "[Cause] fee waivers are required in the aftermath of the COVID-19 outbreak and subsequent recession [Relation] cause [Effect] the firm could lose upward of $300 million in annual revenue and around $50 million-$60 million in operating income annually",
    "gold": "[Cause] fee waivers are required in the aftermath of the COVID-19 outbreak and subsequent recession [Relation] cause [Effect] the firm could lose upward of $300 million in annual revenue and around $50 million-$60 million in operating income annually",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As such, customers are often willing to pay a premium and sign long-term contracts to ensure their businesses are running smoothly.",
    "output": "[Cause] customers are often willing to pay a premium and sign long-term contracts [Relation] enable [Effect] ensure their businesses are running smoothly",
    "gold": "[Cause] customers are often willing to pay a premium and sign long-term contracts [Relation] enable [Effect] ensure their businesses are running smoothly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe this is difficult for upstarts to replicate quickly and see limited competition between the off-price retailers as customers often shop more than one, seeking bargains among the sellers' distinct, changing assortments.",
    "output": "[Cause] customers often shop more than one, seeking bargains among the sellers' distinct, changing assortments [Relation] cause [Effect] this is difficult for upstarts to replicate quickly and see limited competition between the off-price retailers",
    "gold": "[Cause] customers often shop more than one, seeking bargains among the sellers' distinct, changing assortments [Relation] cause [Effect]  this is difficult for upstarts to replicate quickly and see limited competition between the off-price retailers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Bell is typically the company's segment with the highest return on assets primarily due to switching costs stemming from the large installed base of about 13,000 rotorcraft, which provides a sticky aftermarket stream of income.",
    "output": "[Cause] switching costs stemming from the large installed base of about 13,000 rotorcraft [Relation] cause [Effect] Bell is typically the company's segment with the highest return on assets",
    "gold": "[Cause] switching costs stemming from the large installed base of about 13,000 rotorcraft [Relation] enable [Effect] a sticky aftermarket stream of income",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Bell is typically the company's segment with the highest return on assets primarily due to switching costs stemming from the large installed base of about 13,000 rotorcraft, which provides a sticky aftermarket stream of income.",
    "output": "[Cause] the large installed base of about 13,000 rotorcraft [Relation] cause [Effect] Bell is typically the company's segment with the highest return on assets",
    "gold": "[Cause] a sticky aftermarket stream of income [Relation] enable [Effect] Bell is typically the company's segment with the highest return on assets primarily",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think barriers to entry are high for potential biosimilars to Biogen's products, and Biogen has a strong R&amp;D strategy for maintaining its leadership in MS and neurodegenerative diseases, where pricing power is strong, patient need for novel therapies is high, and Biogen has been building a solid pipeline.",
    "output": "[Cause] barriers to entry are high for potential biosimilars to Biogen's products, and Biogen has a strong R&amp;D strategy for maintaining its leadership in MS and neurodegenerative diseases [Relation] cause [Effect] pricing power is strong, patient need for novel therapies is high, and Biogen has been building a solid pipeline",
    "gold": "[Cause] D strategy for maintaining its leadership in MS and neurodegenerative diseases [Relation] cause [Effect] barriers to entry are high for potential biosimilars to Biogen's products, and Biogen has a strong R&am",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Larger industrial distributors can leverage their purchasing scale to globally source products and take advantage of volume-based rebates and other sales incentives that result in better gross profit margins relative to smaller distributors.",
    "output": "[Cause] Larger industrial distributors can leverage their purchasing scale to globally source products and take advantage of volume-based rebates and other sales incentives [Relation] cause [Effect] better gross profit margins relative to smaller distributors",
    "gold": "[Cause] Larger industrial distributors can leverage their purchasing scale to globally source products and take advantage of volume-based rebates and other sales incentives [Relation] enable [Effect] better gross profit margins relative to smaller distributors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect higher lithium prices and volume will help Albemarle more than triple its lithium EBITDA over the next decade.",
    "output": "[Cause] higher lithium prices and volume [Relation] enable [Effect] Albemarle more than triple its lithium EBITDA over the next decade",
    "gold": "[Cause] higher lithium prices and volume [Relation] enable [Effect] Albemarle more than triple its lithium EBITDA over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The regulatory environment has generally shifted in Charter's favor under the current administration, with the FCC repealing the net neutrality rules and the Title II classification of Internet access services put in place under the prior regime.",
    "output": "[Cause] the FCC repealing the net neutrality rules and the Title II classification of Internet access services put in place under the prior regime [Relation] cause [Effect] The regulatory environment has generally shifted in Charter's favor under the current administration",
    "gold": "[Cause] the current administration [Relation] cause [Effect] The regulatory environment has generally shifted in Charter's favor",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "RingCentral meeting scheduling within Teams), fostering a \"co-opetition\" approach rather than pure competition. As a result, we do not see a winner-take-all market within UCaaS; instead, businesses are likely to adopt best-in-class solutions in different areas rather than lock into one suite, in our view.",
    "output": "[Cause] RingCentral meeting scheduling within Teams), fostering a \"co-opetition\" approach rather than pure competition [Relation] cause [Effect] we do not see a winner-take-all market within UCaaS; instead, businesses are likely to adopt best-in-class solutions in different areas rather than lock into one suite, in our view",
    "gold": "[Cause] RingCentral meeting scheduling within Teams), fostering a \"co-opetition\" approach rather than pure competition [Relation] cause [Effect] we do not see a winner-take-all market within UCaaS; instead, businesses are likely to adopt best-in-class solutions in different areas rather than lock into one suite, in our view",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, its primacy within an increasingly important distribution channel for fast-turning goods gives it deeper strategic relationships with suppliers, enabling more targeted promotions and more coordinated management initiatives for revenue growth.",
    "output": "[Cause] its primacy within an increasingly important distribution channel for fast-turning goods [Relation] enable [Effect] deeper strategic relationships with suppliers, enabling more targeted promotions and more coordinated management initiatives for revenue growth",
    "gold": "[Cause] its primacy within an increasingly important distribution channel for fast-turning goods [Relation] enable [Effect] deeper strategic relationships with suppliers, enabling more targeted promotions and more coordinated management initiatives for revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Though Moody's had its stumbles during the 2008 financial crisis, ultimately, if banks were going to deleverage it would mean that loans held on their balance sheets would have to migrate to public markets, giving Moody's additional business opportunities.",
    "output": "[Cause] banks were going to deleverage [Relation] cause [Effect] loans held on their balance sheets would have to migrate to public markets, giving Moody's additional business opportunities",
    "gold": "[Cause]  banks were going to deleverage [Relation] cause [Effect]  loans held on their balance sheets would have to migrate to public markets, giving Moody's additional business opportunities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With Lazard deriving half of its revenue from financial advisory and half from asset management, the company's revenue and earnings are cyclical.",
    "output": "[Cause] Lazard deriving half of its revenue from financial advisory and half from asset management [Relation] cause [Effect] the company's revenue and earnings are cyclical",
    "gold": "[Cause]  Lazard deriving half of its revenue from financial advisory and half from asset management [Relation] cause [Effect]  the company's revenue and earnings are cyclical",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm held off on planned marketing spending to reflect misaligned supply and demand in early 2020 but ramped up spending in the back half of the year, with a total of 12.1% of revenue allocated to supporting its brands for the year.",
    "output": "[Cause] misaligned supply and demand in early 2020 [Relation] cause [Effect] The firm held off on planned marketing spending",
    "gold": "[Cause] misaligned supply and demand in early 2020 [Relation] cause [Effect] The firm held off on planned marketing spending | ramped up spending in the back half of the year, with a total of 12.1% of revenue allocated to supporting its brands for the year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Entities are increasingly moving workloads to public cloud environments and relying on SaaS applications, which could lower the demand for pure-play cybersecurity solutions if identity access security is embedded into the resources used.",
    "output": "[Cause] Entities are increasingly moving workloads to public cloud environments and relying on SaaS applications [Relation] cause [Effect] lower the demand for pure-play cybersecurity solutions if identity access security is embedded into the resources used",
    "gold": "[Cause]  identity access security is embedded into the resources used [Relation] cause [Effect]  lower the demand for pure-play cybersecurity solutions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "EA runs an online digital storefront along with servers for its console and PC titles. As a result, the firm captures and retains important data about its customers, including credit card numbers, email, and mailing addresses.",
    "output": "[Cause] EA runs an online digital storefront along with servers for its console and PC titles [Relation] cause [Effect] the firm captures and retains important data about its customers, including credit card numbers, email, and mailing addresses",
    "gold": "[Cause] EA runs an online digital storefront along with servers for its console and PC titles [Relation] cause [Effect] the firm captures and retains important data about its customers, including credit card numbers, email, and mailing addresses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sponsored Lenses and Sponsored Geofilter ads, we believe, are ads with lower probability of being ignored by users as they likely have higher relevancy to users' likes and behaviors given that they are fellow Snapchat friends.",
    "output": "[Cause] they likely have higher relevancy to users' likes and behaviors [Relation] cause [Effect] Sponsored Lenses and Sponsored Geofilter ads, we believe, are ads with lower probability of being ignored by users",
    "gold": "[Cause] they are fellow Snapchat friends [Relation] enable [Effect] they likely have higher relevancy to users' likes and behaviors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Sponsored Lenses and Sponsored Geofilter ads, we believe, are ads with lower probability of being ignored by users as they likely have higher relevancy to users' likes and behaviors given that they are fellow Snapchat friends.",
    "output": "[Cause] they likely have higher relevancy to users' likes and behaviors [Relation] cause [Effect] Sponsored Lenses and Sponsored Geofilter ads, we believe, are ads with lower probability of being ignored by users",
    "gold": "[Cause] they likely have higher relevancy to users' likes and behaviors [Relation] enable [Effect] Sponsored Lenses and Sponsored Geofilter ads, we believe, are ads with lower probability of being ignored by users",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Icon is also vulnerable to large cancellations and pipeline reprioritizations since it can be challenging to immediately repurpose capacity for new projects.",
    "output": "[Cause] it can be challenging to immediately repurpose capacity for new projects [Relation] cause [Effect] Icon is also vulnerable to large cancellations and pipeline reprioritizations",
    "gold": "[Cause] it can be challenging to immediately repurpose capacity for new projects [Relation] enable [Effect] Icon is also vulnerable to large cancellations and pipeline reprioritizations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "More recently, Pennsylvania and Maryland approved slots in 2004 and 2008, respectively, followed by these states then allowing gaming tables in 2010 and 2012, respectively, which increases competition for five of Caesars' properties located in and around those two states.",
    "output": "[Cause] Pennsylvania and Maryland approved slots in 2004 and 2008, respectively, followed by these states then allowing gaming tables in 2010 and 2012, respectively [Relation] cause [Effect] increases competition for five of Caesars' properties located in and around those two states",
    "gold": "[Cause] Pennsylvania and Maryland approved slots in 2004 and 2008, respectively, followed by these states then allowing gaming tables in 2010 and 2012, respectively [Relation] cause [Effect] increases competition for five of Caesars' properties located in and around those two states",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Store openings and the need to invest in part availability will require more distribution centers and mega hub stores, with forecast capital expenditures averaging 4% of sales through fiscal 2030.",
    "output": "[Cause] Store openings and the need to invest in part availability [Relation] cause [Effect] require more distribution centers and mega hub stores",
    "gold": "[Cause] Store openings and the need to invest in part availability will require more distribution centers and mega hub stores [Relation] enable [Effect] forecast capital expenditures averaging 4% of sales through fiscal 2030",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "From a business ethics and product governance perspective, failure to provide reliable and trustworthy services can impact both reputation and financial performance, so asset managers like Franklin tend to be more careful with how they manage the pricing, performance, and positioning of their products.",
    "output": "[Cause] failure to provide reliable and trustworthy services [Relation] cause [Effect] impact both reputation and financial performance",
    "gold": "[Cause] failure to provide reliable and trustworthy services [Relation] cause [Effect] impact both reputation and financial performance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From a business ethics and product governance perspective, failure to provide reliable and trustworthy services can impact both reputation and financial performance, so asset managers like Franklin tend to be more careful with how they manage the pricing, performance, and positioning of their products.",
    "output": "[Cause] failure to provide reliable and trustworthy services [Relation] cause [Effect] impact both reputation and financial performance",
    "gold": "[Cause] impact both reputation and financial performance [Relation] enable [Effect] asset managers like Franklin tend to be more careful with how they manage the pricing, performance, and positioning of their products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because of the range of outcomes for its managing director productivity, which is in uncharted waters, and to an extent its institutional equities business that is in an industry undergoing a transition, our uncertainty rating for the company is high.",
    "output": "[Cause] the range of outcomes for its managing director productivity, which is in uncharted waters, and to an extent its institutional equities business that is in an industry undergoing a transition [Relation] cause [Effect] our uncertainty rating for the company is high",
    "gold": "[Cause]  the range of outcomes for its managing director productivity, which is in uncharted waters, and to an extent its institutional equities business that is in an industry undergoing a transition [Relation] cause [Effect] our uncertainty rating for the company is high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Dish will have the opportunity to deploy its network utilizing recent technological advancements that should make it more efficient, the wireless business fundamentally requires scale for success.",
    "output": "[Cause] scale [Relation] enable [Effect] the wireless business",
    "gold": "[Cause] scale [Relation] enable [Effect] the wireless business | success",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect more modest growth for the bank technology side of the business, given Fiserv's strong market position and the mature nature of the banking industry.",
    "output": "[Cause] Fiserv's strong market position and the mature nature of the banking industry [Relation] cause [Effect] more modest growth for the bank technology side of the business",
    "gold": "[Cause]  Fiserv's strong market position and the mature nature of the banking industry [Relation] cause [Effect]  more modest growth for the bank technology side of the business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Based on our view that network complexity will increase as firms control and monitor a rapidly growing quantity of Internet of Things devices, our expectation is for Ericsson's software and services to be in high demand.",
    "output": "[Cause] firms control and monitor a rapidly growing quantity of Internet of Things devices [Relation] cause [Effect] network complexity will increase",
    "gold": "[Cause]  firms control and monitor a rapidly growing quantity of Internet of Things devices [Relation] cause [Effect] network complexity will increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given its heavier exposure to markets outside the U.S., especially in developing and emerging markets, AMG is also exposed to myriad cultural, economic, and political risks.",
    "output": "[Cause] its heavier exposure to markets outside the U.S., especially in developing and emerging markets [Relation] cause [Effect] AMG is also exposed to myriad cultural, economic, and political risks",
    "gold": "[Cause] its heavier exposure to markets outside the U.S., especially in developing and emerging markets [Relation] cause [Effect] AMG is also exposed to myriad cultural, economic, and political risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think this and other growth headwinds will ease a bit over time, but a tepid industry backdrop will result in modest growth over our projection projection.",
    "output": "[Cause] a tepid industry backdrop [Relation] cause [Effect] modest growth over our projection projection",
    "gold": "[Cause] a tepid industry backdrop [Relation] cause [Effect] modest growth over our projection projection",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Some of Xilinx's FPGAs are used extensively in communication equipment that may have operational lifetimes of at least a decade if not longer. Thus, it can not only be difficult for new entrants to gain market share but also less likely that existing customers defect from Altera (owned by Intel) to Xilinx or vice versa.",
    "output": "[Cause] Some of Xilinx's FPGAs are used extensively in communication equipment that may have operational lifetimes of at least a decade if not longer [Relation] cause [Effect] it can not only be difficult for new entrants to gain market share but also less likely that existing customers defect from Altera (owned by Intel) to Xilinx or vice versa",
    "gold": "[Cause] Some of Xilinx's FPGAs are used extensively in communication equipment that may have operational lifetimes of at least a decade if not longer [Relation] cause [Effect] it can not only be difficult for new entrants to gain market share but also less likely that existing customers defect from Altera (owned by Intel) to Xilinx or vice versa",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we think the AIDC industry is likely to face heightened regulation, we think Zebra's focus on security in its software offerings will stave off any serious threat to its business prospects as a result of regulation.",
    "output": "[Cause] regulation [Relation] cause [Effect] the AIDC industry is likely to face heightened regulation",
    "gold": "[Cause] regulation [Relation] cause [Effect] any serious threat to its business prospects",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we think the AIDC industry is likely to face heightened regulation, we think Zebra's focus on security in its software offerings will stave off any serious threat to its business prospects as a result of regulation.",
    "output": "[Cause] regulation [Relation] cause [Effect] stave off any serious threat to its business prospects",
    "gold": "[Cause] Zebra's focus on security in its software offerings [Relation] prevent [Effect] any serious threat to its business prospects",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Halliburton successfully integrated Dresser's businesses with its own business plus newly acquired technologies, putting the company in position to benefit from the international oil and gas drilling and exploration boom of the 2000s.",
    "output": "[Cause] Halliburton successfully integrated Dresser's businesses with its own business plus newly acquired technologies [Relation] enable [Effect] putting the company in position to benefit from the international oil and gas drilling and exploration boom of the 2000s",
    "gold": "[Cause] Halliburton successfully integrated Dresser's businesses with its own business plus newly acquired technologies [Relation] cause [Effect] putting the company in position to benefit from the international oil and gas drilling and exploration boom of the 2000s",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe smaller local and regional competitors will struggle to win market share in both regions, given LKQ's strong distribution network, efficient inventory management, and extensive customer service capabilities.",
    "output": "[Cause] LKQ's strong distribution network, efficient inventory management, and extensive customer service capabilities [Relation] cause [Effect] smaller local and regional competitors will struggle to win market share in both regions",
    "gold": "[Cause] LKQ's strong distribution network, efficient inventory management, and extensive customer service capabilities [Relation] cause [Effect] smaller local and regional competitors will struggle to win market share in both regions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Walmart's display policies, packaging demands, and stocking requirements carry special weight as the firm is responsible for a large share of many leading manufacturers' sales (for example, 15% of the top line at Procter &amp; Gamble and 13% at PepsiCo).",
    "output": "[Cause] the firm is responsible for a large share of many leading manufacturers' sales [Relation] cause [Effect] Walmart's display policies, packaging demands, and stocking requirements carry special weight",
    "gold": "[Cause] the firm is responsible for a large share of many leading manufacturers' sales [Relation] cause [Effect] Walmart's display policies, packaging demands, and stocking requirements carry special weight",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm aims to improve the operations of its target companies by increasing prices, productivity, and encourage employees to generate new business.",
    "output": "[Cause] increasing prices, productivity, and encourage employees to generate new business [Relation] enable [Effect] improve the operations of its target companies",
    "gold": "[Cause] increasing prices, productivity, and encourage employees to generate new business [Relation] cause [Effect]  improve the operations of its target companies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Juniper relies on collaborations to fill portfolio gaps in areas such as hyperconverged infrastructure, which may hurt its presence with customers consolidating vendors.",
    "output": "[Cause] collaborations [Relation] enable [Effect] fill portfolio gaps in areas such as hyperconverged infrastructure",
    "gold": "[Cause] collaborations [Relation] enable [Effect] fill portfolio gaps in areas such as hyperconverged infrastructure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Juniper relies on collaborations to fill portfolio gaps in areas such as hyperconverged infrastructure, which may hurt its presence with customers consolidating vendors.",
    "output": "[Cause] collaborations [Relation] prevent [Effect] its presence with customers consolidating vendors",
    "gold": "[Cause] collaborations [Relation] prevent [Effect] its presence with customers consolidating vendors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's industry-proven products and domain expertise increase the robustness of the offering and assist in maintaining strong dollar retention trends.",
    "output": "[Cause] The company's industry-proven products and domain expertise [Relation] enable [Effect] increase the robustness of the offering and assist in maintaining strong dollar retention trends",
    "gold": "[Cause] The company's industry-proven products and domain expertise [Relation] cause [Effect] increase the robustness of the offering and assist in maintaining strong dollar retention trends",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, because of the open-sourced nature of the technology that is integral to how its network runs, with customers able to share in the innovations of others, the basis for a network effect exists.",
    "output": "[Cause] the open-sourced nature of the technology that is integral to how its network runs, with customers able to share in the innovations of others [Relation] cause [Effect] the basis for a network effect exists",
    "gold": "[Cause] the open-sourced nature of the technology that is integral to how its network runs, with customers able to share in the innovations of others [Relation] cause [Effect] the basis for a network effect exists",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Convenient access to a strong and extensive dealer network and the ability to provide competitive financing services also help to lighten customers' financial burden and improve the user experience.",
    "output": "[Cause] Convenient access to a strong and extensive dealer network and the ability to provide competitive financing services [Relation] enable [Effect] lighten customers' financial burden and improve the user experience",
    "gold": "[Cause] Convenient access to a strong and extensive dealer network and the ability to provide competitive financing services [Relation] cause [Effect] lighten customers' financial burden and improve the user experience",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are increasing our fair value estimate to $114 per share from $108, due to time value since of money our last update and some modest changes in our assumptions.",
    "output": "[Cause] time value since of money our last update and some modest changes in our assumptions [Relation] cause [Effect] We are increasing our fair value estimate to $114 per share from $108",
    "gold": "[Cause] time value since of money our last update and some modest changes in our assumptions [Relation] cause [Effect] We are increasing our fair value estimate to $114 per share from $108",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The ability to directly produce hydroxide from spodumene makes low-cost spodumene producers the lowest-cost lithium hydroxide producers globally.",
    "output": "[Cause] The ability to directly produce hydroxide from spodumene [Relation] enable [Effect] low-cost spodumene producers the lowest-cost lithium hydroxide producers globally",
    "gold": "[Cause] The ability to directly produce hydroxide from spodumene [Relation] enable [Effect]  low-cost spodumene producers the lowest-cost lithium hydroxide producers globally",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Successful cost reductions of existing projects along with recent discoveries like the prolific and low-cost Johan Sverdrup (upward of 3 billion barrels of oil equivalent) have left Equinor with a large queue of low break-even, high-return projects to drive the bulk of its growth.",
    "output": "[Cause] Successful cost reductions of existing projects along with recent discoveries like the prolific and low-cost Johan Sverdrup (upward of 3 billion barrels of oil equivalent) [Relation] cause [Effect] left Equinor with a large queue of low break-even, high-return projects to drive the bulk of its growth",
    "gold": "[Cause] Successful cost reductions of existing projects along with recent discoveries like the prolific and low-cost Johan Sverdrup (upward of 3 billion barrels of oil equivalent) [Relation] enable [Effect]  left Equinor with a large queue of low break-even, high-return projects to drive the bulk of its growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Capital One remains committed to this approach to banking and has continued to reduce its branch count further, even as its deposits have grown. This dynamic allows Capital One to enjoy the benefits of being a large bank without the expense of operating the branch system of a large bank.",
    "output": "[Cause] Capital One remains committed to this approach to banking and has continued to reduce its branch count further, even as its deposits have grown [Relation] enable [Effect] Capital One to enjoy the benefits of being a large bank without the expense of operating the branch system of a large bank",
    "gold": "[Cause] Capital One remains committed to this approach to banking and has continued to reduce its branch count further, even as its deposits have grown [Relation] cause [Effect] Capital One to enjoy the benefits of being a large bank without the expense of operating the branch system of a large bank",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite Amazon's recent efforts to sign distribution agreements with manufacturers, we anticipate that incumbent retailers will be able to defend their privileged market standing because of their in-store services and ability to offer several categories of components on demand.",
    "output": "[Cause] their in-store services and ability to offer several categories of components on demand [Relation] enable [Effect] incumbent retailers will be able to defend their privileged market standing",
    "gold": "[Cause] their in-store services and ability to offer several categories of components on demand [Relation] enable [Effect]  incumbent retailers will be able to defend their privileged market standing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Viewership of its channels could fall below expectations, and advertisers could pull back on their spending, both of which could drag on advertising sales growth.",
    "output": "[Cause] Viewership of its channels could fall below expectations, and advertisers could pull back on their spending [Relation] cause [Effect] drag on advertising sales growth",
    "gold": "[Cause] Viewership of its channels could fall below expectations, and advertisers could pull back on their spending [Relation] cause [Effect] drag on advertising sales growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume PG&E is able to recover substantially all net costs of closing the Diablo Canyon nuclear plant if 2024-25 retirement plans go forward.",
    "output": "[Cause] 2024-25 retirement plans go forward [Relation] enable [Effect] PG&E is able to recover substantially all net costs of closing the Diablo Canyon nuclear plant",
    "gold": "[Cause] 2024-25 retirement plans go forward [Relation] cause [Effect] PG&E is able to recover substantially all net costs of closing the Diablo Canyon nuclear plant",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The largest reinsurance loss up to that point was hurricane Andrew in 1992 that cost the reinsurance industry $25 billion.",
    "output": "[Cause] hurricane Andrew in 1992 [Relation] cause [Effect] cost the reinsurance industry $25 billion",
    "gold": "[Cause]  hurricane Andrew in 1992 [Relation] cause [Effect] cost the reinsurance industry $25 billion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the segment boasts switching costs resulting from its position as an integrated design partner into mission-critical systems in many of its end markets, as well as intangible assets in high-tech connector and sensor design that allow it to maintain pricing power with its customers.",
    "output": "[Cause] its position as an integrated design partner into mission-critical systems in many of its end markets, as well as intangible assets in high-tech connector and sensor design [Relation] enable [Effect] the segment boasts switching costs",
    "gold": "[Cause]  the segment boasts switching costs resulting from its position as an integrated design partner into mission-critical systems in many of its end markets, as well as intangible assets in high-tech connector and sensor design [Relation] enable [Effect] maintain pricing power with its customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think the segment boasts switching costs resulting from its position as an integrated design partner into mission-critical systems in many of its end markets, as well as intangible assets in high-tech connector and sensor design that allow it to maintain pricing power with its customers.",
    "output": "[Cause] intangible assets in high-tech connector and sensor design [Relation] enable [Effect] maintain pricing power with its customers",
    "gold": "[Cause] its position as an integrated design partner into mission-critical systems in many of its end markets, as well as intangible assets in high-tech connector and sensor design [Relation] cause [Effect] the segment boasts switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Switching costs are largely obtained by the significant implementation costs in time and dollars that detract from mission-critical operations, and they vary from less complex physician practices to highly integrated hospital systems.",
    "output": "[Cause] the significant implementation costs in time and dollars [Relation] prevent [Effect] mission-critical operations",
    "gold": "[Cause]  the significant implementation costs in time and dollars [Relation] cause [Effect] Switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "It is possible that when commodity costs rise, margins could be squeezed if the retail environment remains deflationary, but past cycles suggest that Reckitt and its competitors will be able to pass through commodity cost inflation to consumers.",
    "output": "[Cause] the retail environment remains deflationary [Relation] cause [Effect] margins could be squeezed",
    "gold": "[Cause] the retail environment remains deflationary [Relation] cause [Effect] margins could be squeezed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Wealth management firms can often have product governance issues stemming from their trading operations, as there can be a conflict of interest between financial advisors and their clients, such as excessive trading to generate commissions.",
    "output": "[Cause] there can be a conflict of interest between financial advisors and their clients [Relation] cause [Effect] Wealth management firms can often have product governance issues stemming from their trading operations",
    "gold": "[Cause] their trading operations [Relation] cause [Effect] product governance issues",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Features added to Foundry intended to maximize the production of crude oil for the oil and gas industry became adopted by medical equipment manufacturers to allocate protective equipment.",
    "output": "[Cause] Features added to Foundry intended to maximize the production of crude oil for the oil and gas industry became adopted by medical equipment manufacturers [Relation] enable [Effect] allocate protective equipment",
    "gold": "[Cause]  maximize the production of crude oil for the oil and gas industry [Relation] cause [Effect] Features added to Foundry",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In turn, pricing in primary lines also started to improve in 2019, and based on commentary from carriers, that momentum has only accelerated in 2020. This has helped to offset any negative impacts the coronavirus has on the more discretionary areas of the business and could provide for relatively strong growth going forward.",
    "output": "[Cause] pricing in primary lines also started to improve in 2019, and based on commentary from carriers, that momentum has only accelerated in 2020 [Relation] enable [Effect] offset any negative impacts the coronavirus has on the more discretionary areas of the business and could provide for relatively strong growth going forward",
    "gold": "[Cause]  pricing in primary lines also started to improve in 2019, and based on commentary from carriers, that momentum has only accelerated in 2020 [Relation] enable [Effect] offset any negative impacts the coronavirus has on the more discretionary areas of the business and could provide for relatively strong growth going forward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect NBCU revenue will rebound 18% in 2021 after a 20% decline in 2020, thanks to the Summer Olympics, a rebound in theme park attendance, recovery in movie studio revenue, and growth at Peacock.",
    "output": "[Cause] the Summer Olympics, a rebound in theme park attendance, recovery in movie studio revenue, and growth at Peacock [Relation] cause [Effect] NBCU revenue will rebound 18% in 2021 after a 20% decline in 2020",
    "gold": "[Cause] the Summer Olympics, a rebound in theme park attendance, recovery in movie studio revenue, and growth at Peacock [Relation] cause [Effect] NBCU revenue will rebound 18% in 2021 after a 20% decline in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With dwindling audiences for print-based products, advertisers are also following the eyeballs to the digital arena and migrating away from the medium.",
    "output": "[Cause] dwindling audiences for print-based products [Relation] cause [Effect] advertisers are also following the eyeballs to the digital arena and migrating away from the medium",
    "gold": "[Cause]  dwindling audiences for print-based products [Relation] cause [Effect] advertisers are also following the eyeballs to the digital arena and migrating away from the medium",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the future, we expect synergies between Vanadis and Euroimmun, its immunodiagnostics and allergy testing business, to be key drivers for PerkinElmer.",
    "output": "[Cause] synergies between Vanadis and Euroimmun, its immunodiagnostics and allergy testing business [Relation] enable [Effect] key drivers for PerkinElmer",
    "gold": "[Cause] synergies between Vanadis and Euroimmun, its immunodiagnostics and allergy testing business [Relation] enable [Effect] key drivers for PerkinElmer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Volatile input costs can also weigh on profits, and if Campbell chooses to raise prices to offset these pressures, volume could be constrained, especially during economic periods when consumers are highly selective in their purchase decisions.",
    "output": "[Cause] Volatile input costs [Relation] cause [Effect] weigh on profits",
    "gold": "[Cause] Volatile input costs [Relation] cause [Effect] weigh on profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the economic impact from the COVID-19 pandemic pressured earnings in 2020 due in large part to NiSource's high share of commercial and industrial customers, we expect a rebound in average annual EPS growth near 8% from 2021 to 2024 and strong dividend growth averaging about 6% annually.",
    "output": "[Cause] NiSource's high share of commercial and industrial customers [Relation] cause [Effect] the economic impact from the COVID-19 pandemic pressured earnings in 2020",
    "gold": "[Cause] NiSource's high share of commercial and industrial customers [Relation] cause [Effect] the economic impact from the COVID-19 pandemic pressured earnings in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the economic impact from the COVID-19 pandemic pressured earnings in 2020 due in large part to NiSource's high share of commercial and industrial customers, we expect a rebound in average annual EPS growth near 8% from 2021 to 2024 and strong dividend growth averaging about 6% annually.",
    "output": "[Cause] NiSource's high share of commercial and industrial customers [Relation] cause [Effect] the economic impact from the COVID-19 pandemic pressured earnings in 2020",
    "gold": "[Cause]  the COVID-19 pandemic [Relation] cause [Effect] the economic impact",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Management has said that a transition to branch-light banking supported by increased digitization should help lower expenses and improve operating efficiency.",
    "output": "[Cause] a transition to branch-light banking [Relation] enable [Effect] help lower expenses and improve operating efficiency",
    "gold": "[Cause] increased digitization [Relation] enable [Effect] a transition to branch-light banking",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Management has said that a transition to branch-light banking supported by increased digitization should help lower expenses and improve operating efficiency.",
    "output": "[Cause] a transition to branch-light banking [Relation] enable [Effect] help lower expenses and improve operating efficiency",
    "gold": "[Cause] a transition to branch-light banking [Relation] enable [Effect] help lower expenses and improve operating efficiency",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the likes of Amazon, Microsoft, and Alphabet would have little trouble getting into as many networks as they wanted to, especially because their own businesses alone would likely be compelling to networks.",
    "output": "[Cause] their own businesses alone would likely be compelling to networks [Relation] cause [Effect] the likes of Amazon, Microsoft, and Alphabet would have little trouble getting into as many networks as they wanted to",
    "gold": "[Cause]  their own businesses alone would likely be compelling to networks [Relation] cause [Effect]  the likes of Amazon, Microsoft, and Alphabet would have little trouble getting into as many networks as they wanted to",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Heineken can increase revenue at 4% in the steady state, slightly above our estimate for the industry average, because of its gearing to the premium segments.",
    "output": "[Cause] its gearing to the premium segments [Relation] cause [Effect] Heineken can increase revenue at 4% in the steady state, slightly above our estimate for the industry average",
    "gold": "[Cause]  its gearing to the premium segments [Relation] cause [Effect] Heineken can increase revenue at 4% in the steady state, slightly above our estimate for the industry average",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "When linerboard prices are high as they are today, market entry via greenfield OCC mills or the conversion of aged paper assets into recycled linerboard facilities becomes increasingly attractive.",
    "output": "[Cause] linerboard prices are high as they are today [Relation] cause [Effect] market entry via greenfield OCC mills or the conversion of aged paper assets into recycled linerboard facilities becomes increasingly attractive",
    "gold": "[Cause]  linerboard prices are high as they are today [Relation] cause [Effect] market entry via greenfield OCC mills or the conversion of aged paper assets into recycled linerboard facilities becomes increasingly attractive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In neurology, RNA therapies can reach their intended targets via intrathecal administration into spinal fluid, directly preventing the production of toxic proteins.",
    "output": "[Cause] intrathecal administration into spinal fluid [Relation] prevent [Effect] the production of toxic proteins",
    "gold": "[Cause] intrathecal administration into spinal fluid [Relation] prevent [Effect] the production of toxic proteins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that aeronautics and space systems will be two of the biggest growth drivers for the firm, as the company continues shifts from development to procurement of the B-21 bomber, continues producing fuselages for the F-35, and develops the Ground Based Strategic Deterrent.",
    "output": "[Cause] the company continues shifts from development to procurement of the B-21 bomber, continues producing fuselages for the F-35, and develops the Ground Based Strategic Deterrent [Relation] cause [Effect] aeronautics and space systems will be two of the biggest growth drivers for the firm",
    "gold": "[Cause] as the company continues shifts from development to procurement of the B-21 bomber [Relation] cause [Effect] aeronautics and space systems will be two of the biggest growth drivers for the firm",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Large fixed costs create a high degree of operating leverage that can cause profits to swing widely in response to relatively small changes in demand or from lost production due to supply shocks.",
    "output": "[Cause] supply shocks [Relation] cause [Effect] profits to swing widely",
    "gold": "[Cause] supply shocks [Relation] cause [Effect] relatively small changes in demand or from lost production",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Large fixed costs create a high degree of operating leverage that can cause profits to swing widely in response to relatively small changes in demand or from lost production due to supply shocks.",
    "output": "[Cause] supply shocks [Relation] cause [Effect] profits to swing widely",
    "gold": "[Cause] Large fixed costs create a high degree of operating leverage [Relation] cause [Effect] profits to swing widely in response to relatively small changes in demand or from lost production",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These businesses do not boast the same operating leverage seen in aggregates and cement, as production is not dependent on an energy-intensive process.",
    "output": "[Cause] production is not dependent on an energy-intensive process [Relation] cause [Effect] These businesses do not boast the same operating leverage seen in aggregates and cement",
    "gold": "[Cause] production is not dependent on an energy-intensive process [Relation] cause [Effect] These businesses do not boast the same operating leverage seen in aggregates and cement",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We still expect industry gaming revenue in Macau to return to 2019 sales levels until 2022, as we expect pent-up demand to drive traffic.",
    "output": "[Cause] pent-up demand to drive traffic [Relation] cause [Effect] industry gaming revenue in Macau to return to 2019 sales levels until 2022",
    "gold": "[Cause] pent-up demand to drive traffic [Relation] cause [Effect]  industry gaming revenue in Macau to return to 2019 sales levels until 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Increased attrition could cause wear on Wipro's intangible assets, as less technical and industry expertise would remain in the firm.",
    "output": "[Cause] less technical and industry expertise would remain in the firm [Relation] cause [Effect] Increased attrition could cause wear on Wipro's intangible assets",
    "gold": "[Cause] less technical and industry expertise would remain in the firm [Relation] cause [Effect] Increased attrition could cause wear on Wipro's intangible assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, we expect the company's net interest margins to remain broadly stable as changes in interest rates impact both the company's interest expense and interest income.",
    "output": "[Cause] changes in interest rates impact both the company's interest expense and interest income [Relation] cause [Effect] the company's net interest margins to remain broadly stable",
    "gold": "[Cause] changes in interest rates impact both the company's interest expense and interest income [Relation] cause [Effect]  the company's net interest margins to remain broadly stable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As more chip content is incorporated into industrial machinery, connected devices, and automobiles in the years ahead, we think Maxim's analog chip business can prosper.",
    "output": "[Cause] more chip content is incorporated into industrial machinery, connected devices, and automobiles in the years ahead [Relation] enable [Effect] Maxim's analog chip business can prosper",
    "gold": "[Cause] more chip content is incorporated into industrial machinery, connected devices, and automobiles in the years ahead [Relation] enable [Effect] Maxim's analog chip business can prosper",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nevertheless, after an inorganic double-digit decline in 2022 due to the portfolio transition, we conservatively forecast 3%-4% growth for this business longer term.",
    "output": "[Cause] the portfolio transition [Relation] cause [Effect] an inorganic double-digit decline in 2022",
    "gold": "[Cause] the portfolio transition [Relation] cause [Effect] an inorganic double-digit decline in 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nevertheless, after an inorganic double-digit decline in 2022 due to the portfolio transition, we conservatively forecast 3%-4% growth for this business longer term.",
    "output": "[Cause] an inorganic double-digit decline in 2022 [Relation] cause [Effect] we conservatively forecast 3%-4% growth for this business longer term",
    "gold": "[Cause] an inorganic double-digit decline in 2022 [Relation] cause [Effect] we conservatively forecast 3%-4% growth for this business longer term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the importance of a talented workforce in the services oriented commercial real estate industry, it is imperative that firms such as Cushman &amp; Wakefield continue to attract and retain top employees.",
    "output": "[Cause] the importance of a talented workforce in the services oriented commercial real estate industry [Relation] cause [Effect] it is imperative that firms such as Cushman &amp; Wakefield continue to attract and retain top employees",
    "gold": "[Cause] the importance of a talented workforce in the services oriented commercial real estate industry [Relation] cause [Effect] it is imperative that firms such as Cushman &amp; Wakefield continue to attract and retain top employees",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the Kontoor spin-off and sale of some of VF's work brands has improved the firm's margins as the remaining brands have more pricing power than those that have been eliminated.",
    "output": "[Cause] the remaining brands have more pricing power than those that have been eliminated [Relation] cause [Effect] the Kontoor spin-off and sale of some of VF's work brands has improved the firm's margins",
    "gold": "[Cause] the remaining brands have more pricing power than those that have been eliminated [Relation] enable [Effect]  the Kontoor spin-off and sale of some of VF's work brands has improved the firm's margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But this should not affect Sabre's uncertainty rating unless travel demand returns to near zero for an extended period, leading to potential need for incremental liquidity, which could occur at value-destructive levels.",
    "output": "[Cause] travel demand returns to near zero for an extended period [Relation] cause [Effect] affect Sabre's uncertainty rating",
    "gold": "[Cause] travel demand returns to near zero for an extended period [Relation] cause [Effect]  affect Sabre's uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But this should not affect Sabre's uncertainty rating unless travel demand returns to near zero for an extended period, leading to potential need for incremental liquidity, which could occur at value-destructive levels.",
    "output": "[Cause] travel demand returns to near zero for an extended period [Relation] cause [Effect] potential need for incremental liquidity",
    "gold": "[Cause]  affect Sabre's uncertainty rating [Relation] cause [Effect] potential need for incremental liquidity, which could occur at value-destructive levels",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Without the growth potential, Kinder ultimately sold off its entire Canadian stake to Pembina in late 2019, eliminating all Canadian investment risk.",
    "output": "[Cause] Without the growth potential [Relation] cause [Effect] Kinder ultimately sold off its entire Canadian stake to Pembina in late 2019",
    "gold": "[Cause] Without the growth potential [Relation] cause [Effect] Kinder ultimately sold off its entire Canadian stake to Pembina in late 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Demographic trends are strengthened by a market shift from human insulin toward modern insulin analogs (such as Novo's Levemir and NovoLog) and now next-generation insulin analogs (Tresiba, Fiasp), which offer improved efficacy, safety, and convenience for patients.",
    "output": "[Cause] Demographic trends are strengthened by a market shift from human insulin toward modern insulin analogs (such as Novo's Levemir and NovoLog) and now next-generation insulin analogs (Tresiba, Fiasp) [Relation] enable [Effect] offer improved efficacy, safety, and convenience for patients",
    "gold": "[Cause] Demographic trends are strengthened by a market shift from human insulin toward modern insulin analogs (such as Novo's Levemir and NovoLog) and now next-generation insulin analogs (Tresiba, Fiasp) [Relation] enable [Effect] offer improved efficacy, safety, and convenience for patients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Con Ed said in its news release that the lower earnings were due to the ongoing financial impact of the pandemic.",
    "output": "[Cause] the ongoing financial impact of the pandemic [Relation] cause [Effect] the lower earnings",
    "gold": "[Cause] the ongoing financial impact of the pandemic [Relation] cause [Effect] the lower earnings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Developed telecom markets are also mature, which also keeps new entrants at bay, as the profit pool is stable or declining.",
    "output": "[Cause] the profit pool is stable or declining [Relation] cause [Effect] Developed telecom markets are also mature, which also keeps new entrants at bay",
    "gold": "[Cause] Developed telecom markets are also mature [Relation] enable [Effect]  keeps new entrants at bay",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, its food segment (23% of fiscal 2021 sales) is under pressure as consumer preferences shift to fresh, unprocessed fare sold in grocery stores' perimeters.",
    "output": "[Cause] consumer preferences shift to fresh, unprocessed fare sold in grocery stores' perimeters [Relation] cause [Effect] its food segment (23% of fiscal 2021 sales) is under pressure",
    "gold": "[Cause] consumer preferences shift to fresh, unprocessed fare sold in grocery stores' perimeters [Relation] cause [Effect] its food segment (23% of fiscal 2021 sales) is under pressure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the pipeline, vosoritide studies in younger patients that are ongoing are likely to continue, as parents administer the drug at home.",
    "output": "[Cause] parents administer the drug at home [Relation] cause [Effect] vosoritide studies in younger patients that are ongoing are likely to continue",
    "gold": "[Cause]  parents administer the drug at home [Relation] enable [Effect] vosoritide studies in younger patients that are ongoing are likely to continue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Regulatory changes prompted AT&T to acquire two subscale, struggling Mexican carriers in 2015 and commit $3 billion to integrate and improve the firms' networks.",
    "output": "[Cause] Regulatory changes [Relation] cause [Effect] AT&T to acquire two subscale, struggling Mexican carriers in 2015 and commit $3 billion to integrate and improve the firms' networks",
    "gold": "[Cause] Regulatory changes [Relation] cause [Effect] AT&T to acquire two subscale, struggling Mexican carriers in 2015 and commit $3 billion to integrate and improve the firms' networks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While sluggish carloads and heavy network investment pressured 2019 margins, precision railroading pioneer Canadian National has historically been the highest-margin Class I railroad, and its six-year average operating ratio (59.8%) leads the pack.",
    "output": "[Cause] sluggish carloads and heavy network investment [Relation] prevent [Effect] 2019 margins",
    "gold": "[Cause]  sluggish carloads and heavy network investment [Relation] prevent [Effect] 2019 margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The bulk of programme development risk is borne by governments and defense departments, resulting in stable operating margins and returns for the contractors.",
    "output": "[Cause] The bulk of programme development risk is borne by governments and defense departments [Relation] cause [Effect] stable operating margins and returns for the contractors",
    "gold": "[Cause] The bulk of programme development risk is borne by governments and defense departments [Relation] enable [Effect]  stable operating margins and returns for the contractors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This concern, combined with the fact that Sensient's products account for a very small portion of customer costs, typically leads to sticky business relationships. Accordingly, Sensient becomes ingrained in its customers' supply chains, serving as a key supplier in the production of well-established brands as well as development efforts for new products.",
    "output": "[Cause] This concern, combined with the fact that Sensient's products account for a very small portion of customer costs, typically leads to sticky business relationships [Relation] cause [Effect] Sensient becomes ingrained in its customers' supply chains, serving as a key supplier in the production of well-established brands as well as development efforts for new products",
    "gold": "[Cause] This concern, combined with the fact that Sensient's products account for a very small portion of customer costs, typically leads to sticky business relationships [Relation] cause [Effect] Sensient becomes ingrained in its customers' supply chains, serving as a key supplier in the production of well-established brands as well as development efforts for new products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, some preliminary data hints that a substantial portion of this elderly patient population would have expired anyway from independent causes within several years, even after implanting the Sapien valve. This raises questions about Medicare's appetite to reimburse this expensive device and puts pressure on TAVR manufacturers to demonstrate the economic value of the technology.",
    "output": "[Cause] some preliminary data hints that a substantial portion of this elderly patient population would have expired anyway from independent causes within several years, even after implanting the Sapien valve [Relation] cause [Effect] raises questions about Medicare's appetite to reimburse this expensive device and puts pressure on TAVR manufacturers to demonstrate the economic value of the technology",
    "gold": "[Cause] some preliminary data hints that a substantial portion of this elderly patient population would have expired anyway from independent causes within several years, even after implanting the Sapien valve [Relation] cause [Effect]  raises questions about Medicare's appetite to reimburse this expensive device and puts pressure on TAVR manufacturers to demonstrate the economic value of the technology",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Frank's has historically been able to capture the value it creates via premium pricing, thus yielding very strong margins and returns on invested capital.",
    "output": "[Cause] Frank's has historically been able to capture the value it creates via premium pricing [Relation] enable [Effect] yielding very strong margins and returns on invested capital",
    "gold": "[Cause] Frank's has historically been able to capture the value it creates via premium pricing [Relation] cause [Effect] yielding very strong margins and returns on invested capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a combination of expanding gross margins and incremental operating leverage, we expect Zebra's operating margin to hit 20% in 2024, compared with 15% in 2019.",
    "output": "[Cause] a combination of expanding gross margins and incremental operating leverage [Relation] cause [Effect] Zebra's operating margin to hit 20% in 2024, compared with 15% in 2019",
    "gold": "[Cause] a combination of expanding gross margins and incremental operating leverage [Relation] cause [Effect] we expect Zebra's operating margin to hit 20% in 2024",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We have no doubt that for the sake of continuity and risk mitigation, developers would prefer to remain on CDNs that are performing well, and metrics to date show that Fastly's customers don't leave, as it routinely has a 99% revenue retention rate each year.",
    "output": "[Cause] it routinely has a 99% revenue retention rate each year [Relation] cause [Effect] Fastly's customers don't leave",
    "gold": "[Cause] it routinely has a 99% revenue retention rate each year [Relation] cause [Effect] Fastly's customers don't leave",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have no doubt that for the sake of continuity and risk mitigation, developers would prefer to remain on CDNs that are performing well, and metrics to date show that Fastly's customers don't leave, as it routinely has a 99% revenue retention rate each year.",
    "output": "[Cause] it routinely has a 99% revenue retention rate each year [Relation] cause [Effect] Fastly's customers don't leave",
    "gold": "[Cause] developers would prefer to remain on CDNs that are performing well, and metrics to date show [Relation] cause [Effect] continuity and risk mitigation",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "NRG is well positioned in Texas and the Northeast, but in general we expect modest demand growth and a surge in renewable energy to damp prices, especially in Texas.",
    "output": "[Cause] modest demand growth and a surge in renewable energy [Relation] prevent [Effect] prices",
    "gold": "[Cause] modest demand growth and a surge in renewable energy [Relation] prevent [Effect] prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, Ulta's operating margins may get some benefit from its cost-reduction plan, which includes reductions in areas like logistics and technology, lower real estate costs, greater supply chain efficiency, and improved pricing and product mix.",
    "output": "[Cause] its cost-reduction plan [Relation] enable [Effect] Ulta's operating margins may get some benefit",
    "gold": "[Cause] its cost-reduction plan [Relation] enable [Effect] Ulta's operating margins may get some benefit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The housing market has shown a tendency for boom and bust dynamics, and we think Zillow is untested in a bust environment given the bulk of its growth occurred following the great recession of 2007-08.",
    "output": "[Cause] the bulk of its growth occurred following the great recession of 2007-08 [Relation] cause [Effect] Zillow is untested in a bust environment",
    "gold": "[Cause] the bulk of its growth occurred following the great recession of 2007-08 [Relation] cause [Effect] Zillow is untested in a bust environment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Liberty Global's subsidiaries each carry a heavy debt load, which could impair the equity value of one or more of these businesses.",
    "output": "[Cause] Liberty Global's subsidiaries each carry a heavy debt load [Relation] cause [Effect] impair the equity value of one or more of these businesses",
    "gold": "[Cause] Liberty Global's subsidiaries each carry a heavy debt load [Relation] cause [Effect] impair the equity value of one or more of these businesses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to COVID-19, most of the company-owned and third-party stores that sell its merchandise worldwide were forced to close temporarily, and we expect turmoil in the apparel market to continue.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] most of the company-owned and third-party stores that sell its merchandise worldwide were forced to close temporarily",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] most of the company-owned and third-party stores that sell its merchandise worldwide were forced to close temporarily",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think US Foods' channel diversity, vast adoption of carryout, and the eventual containment of the COVID-19 virus after wide availability of vaccines in 2021, should return US Foods' pro forma revenue (including SGA Food Group and Smart Foodservice Warehouse acquisitions) to a prepandemic level by 2022.",
    "output": "[Cause] US Foods' channel diversity, vast adoption of carryout, and the eventual containment of the COVID-19 virus after wide availability of vaccines in 2021 [Relation] enable [Effect] return US Foods' pro forma revenue (including SGA Food Group and Smart Foodservice Warehouse acquisitions) to a prepandemic level by 2022",
    "gold": "[Cause] US Foods' channel diversity, vast adoption of carryout, and the eventual containment of the COVID-19 virus after wide availability of vaccines in 2021 [Relation] cause [Effect] return US Foods' pro forma revenue (including SGA Food Group and Smart Foodservice Warehouse acquisitions) to a prepandemic level by 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The shift of volume to the off-trade has been margin dilutive for Ambev, with packaging mix also weighing on profitability.",
    "output": "[Cause] The shift of volume to the off-trade [Relation] cause [Effect] margin dilutive for Ambev",
    "gold": "[Cause] packaging mix [Relation] prevent [Effect] profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The shift of volume to the off-trade has been margin dilutive for Ambev, with packaging mix also weighing on profitability.",
    "output": "[Cause] packaging mix [Relation] prevent [Effect] profitability",
    "gold": "[Cause] The shift of volume to the off-trade [Relation] cause [Effect] margin dilutive for Ambev",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Digital Realty Trust is the only data center company we cover that we think has a cost advantage, and it is mostly due to its scale, which we think gives it negotiating leverage with suppliers and economies of scale.",
    "output": "[Cause] its scale [Relation] cause [Effect] Digital Realty Trust is the only data center company we cover that we think has a cost advantage",
    "gold": "[Cause] its scale [Relation] cause [Effect] Digital Realty Trust is the only data center company we cover that we think has a cost advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Southwest is well-positioned to operationally outperform in a leisure-led recovery because its business model is structured to be profitable in a lower-fare environment that focuses on serving leisure travel.",
    "output": "[Cause] its business model is structured to be profitable in a lower-fare environment that focuses on serving leisure travel [Relation] cause [Effect] Southwest is well-positioned to operationally outperform in a leisure-led recovery",
    "gold": "[Cause] its business model is structured to be profitable in a lower-fare environment that focuses on serving leisure travel [Relation] cause [Effect] Southwest is well-positioned to operationally outperform in a leisure-led recovery",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite the positive demand drivers present in Aimco's markets and assets, intense competition for high-quality assets in strong markets drove up the initial capital investment on the company's portfolio.",
    "output": "[Cause] intense competition for high-quality assets in strong markets [Relation] cause [Effect] drove up the initial capital investment on the company's portfolio",
    "gold": "[Cause] intense competition for high-quality assets in strong markets [Relation] cause [Effect] drove up the initial capital investment on the company's portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite that online education was not yet a mainstream under the current environment, yet we believe that post the COVID-19 impact, online education shall be continue to benefit and attracts more students from the mass markets especially with tier II cities or below with low tutoring penetration.",
    "output": "[Cause] the COVID-19 impact [Relation] enable [Effect] online education shall be continue to benefit and attracts more students from the mass markets",
    "gold": "[Cause]  the COVID-19 impact [Relation] cause [Effect] online education shall be continue to benefit and attracts more students from the mass markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, if Intel continues to have delays in transitioning its server CPUs to new process technologies, ARM-based server CPUs have the potential to capture more of the server CPU market.",
    "output": "[Cause] Intel continues to have delays in transitioning its server CPUs to new process technologies [Relation] cause [Effect] ARM-based server CPUs have the potential to capture more of the server CPU market",
    "gold": "[Cause] Intel continues to have delays in transitioning its server CPUs to new process technologies [Relation] enable [Effect] ARM-based server CPUs have the potential to capture more of the server CPU market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But this should not affect Airbnb's uncertainty rating unless travel demand once again returns to near zero for an extended period, leading to the potential need for incremental liquidity, which could occur at value-destructive levels.",
    "output": "[Cause] travel demand once again returns to near zero for an extended period [Relation] cause [Effect] the potential need for incremental liquidity",
    "gold": "[Cause] travel demand once again returns to near zero for an extended period [Relation] cause [Effect] potential need for incremental liquidity, which could occur at value-destructive levels",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For example, a hotel customer who uses Ecolab's products for dishwashing, laundry, cleaning, and pest control would have to manage a more complex and more costly supply chain if it were to replace Ecolab with multiple suppliers.",
    "output": "[Cause] it were to replace Ecolab with multiple suppliers [Relation] cause [Effect] a hotel customer who uses Ecolab's products for dishwashing, laundry, cleaning, and pest control would have to manage a more complex and more costly supply chain",
    "gold": "[Cause] manage a more complex and more costly supply chain [Relation] enable [Effect]  it were to replace Ecolab with multiple suppliers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, a sizable recall, like the one currently experienced by BD, could lead to market share losses as we had seen in the past with Baxter.",
    "output": "[Cause] a sizable recall [Relation] cause [Effect] market share losses",
    "gold": "[Cause] a sizable recall [Relation] cause [Effect] market share losses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that CrowdStrike is in the early stages of becoming a market mainstay as businesses and governments rapidly adopt cloud-based endpoint protection platforms.",
    "output": "[Cause] businesses and governments rapidly adopt cloud-based endpoint protection platforms [Relation] cause [Effect] CrowdStrike is in the early stages of becoming a market mainstay",
    "gold": "[Cause] businesses and governments rapidly adopt cloud-based endpoint protection platforms [Relation] cause [Effect] CrowdStrike is in the early stages of becoming a market mainstay",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "MPS operates in the cyclical semiconductor industry, and its financial results can fluctuate with demand cycles--as seen in 2019, when its top-line growth slowed to single digits for the first time in seven years.",
    "output": "[Cause] MPS operates in the cyclical semiconductor industry [Relation] cause [Effect] its financial results can fluctuate with demand cycles",
    "gold": "[Cause] as seen in 2019, when its top-line growth slowed to single digits for the first time in seven years [Relation] cause [Effect] MPS operates in the cyclical semiconductor industry, and its financial results can fluctuate with demand cycles",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With ample resources to fuel its expansion, we expect Costco will continue to return a meaningful amount of cash to shareholders using stock buybacks and a mix of regular and special dividends.",
    "output": "[Cause] stock buybacks and a mix of regular and special dividends [Relation] enable [Effect] Costco will continue to return a meaningful amount of cash to shareholders",
    "gold": "[Cause] return a meaningful amount of cash [Relation] cause [Effect] shareholders using stock buybacks and a mix of regular and special dividends",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For example, BGI Genomics, which operates primarily in China due to intellectual property disputes, announced in early 2020 that its technology can sequencing a genome for $100.",
    "output": "[Cause] intellectual property disputes [Relation] cause [Effect] announced in early 2020 that its technology can sequencing a genome for $100",
    "gold": "[Cause] intellectual property disputes [Relation] cause [Effect] announced in early 2020 that its technology can sequencing a genome for $100",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The coronavirus was a major challenge for the senior housing industry as the senior population was one of the worst hit from the virus.",
    "output": "[Cause] the senior population was one of the worst hit from the virus [Relation] cause [Effect] The coronavirus was a major challenge for the senior housing industry",
    "gold": "[Cause]  the senior population was one of the worst hit from the virus [Relation] cause [Effect] The coronavirus was a major challenge for the senior housing industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect coronavirus-related retail closures and changes in consumer behavior will have a lasting impact on the industry and drive near-term operating volatility.",
    "output": "[Cause] coronavirus-related retail closures and changes in consumer behavior [Relation] cause [Effect] have a lasting impact on the industry and drive near-term operating volatility",
    "gold": "[Cause]  coronavirus-related retail closures and changes in consumer behavior [Relation] enable [Effect] have a lasting impact on the industry and drive near-term operating volatility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lastly, the shift away from internal combustion engine vehicles may result in reduced repair and maintenance work in the future.",
    "output": "[Cause] the shift away from internal combustion engine vehicles [Relation] cause [Effect] reduced repair and maintenance work in the future",
    "gold": "[Cause] the shift away from internal combustion engine vehicles [Relation] cause [Effect] reduced repair and maintenance work in the future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As national accounts and on-site relationships gain prominence, Fastenal could face gross margin pressure, but these accounts also provide an opportunity for to gain market share and increase volume, which should drive better operating leverage and improved operating margins.",
    "output": "[Cause] national accounts and on-site relationships gain prominence [Relation] cause [Effect] Fastenal could face gross margin pressure",
    "gold": "[Cause]  national accounts and on-site relationships gain prominence [Relation] cause [Effect]  Fastenal could face gross margin pressure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As national accounts and on-site relationships gain prominence, Fastenal could face gross margin pressure, but these accounts also provide an opportunity for to gain market share and increase volume, which should drive better operating leverage and improved operating margins.",
    "output": "[Cause] these accounts also provide an opportunity for to gain market share and increase volume [Relation] enable [Effect] drive better operating leverage and improved operating margins",
    "gold": "[Cause] these accounts also provide an opportunity for to gain market share and increase volume [Relation] enable [Effect] drive better operating leverage and improved operating margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Longer-term we believe operating margins can continue to rise incrementally. This is driven by a combination of further cost improvements and an improved business mix focused on scalable electronic products, with less of a drag from legacy print products, as this medium now contributes less than 8% of group revenue.",
    "output": "[Cause] a combination of further cost improvements and an improved business mix focused on scalable electronic products, with less of a drag from legacy print products, as this medium now contributes less than 8% of group revenue [Relation] cause [Effect] operating margins can continue to rise incrementally",
    "gold": "[Cause] a combination of further cost improvements and an improved business mix focused on scalable electronic products, with less of a drag from legacy print products, as this medium now contributes less than 8% of group revenue [Relation] enable [Effect] operating margins can continue to rise incrementally",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "LabCorp's ability to accommodate higher throughput and its extensive use of automation affords the firm a much lower cost structure--significantly lower than that of hospitals and smaller independent labs.",
    "output": "[Cause] LabCorp's ability to accommodate higher throughput and its extensive use of automation [Relation] enable [Effect] the firm a much lower cost structure--significantly lower than that of hospitals and smaller independent labs",
    "gold": "[Cause] LabCorp's ability to accommodate higher throughput and its extensive use of automation [Relation] enable [Effect] the firm a much lower cost structure--significantly lower than that of hospitals and smaller independent labs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do however, anticipate that fee margins will remain under pressure as competition increases with many financial services firms expanding its presence in the wealth management market.",
    "output": "[Cause] competition increases with many financial services firms expanding its presence in the wealth management market [Relation] cause [Effect] fee margins will remain under pressure",
    "gold": "[Cause] competition increases with many financial services firms expanding its presence in the wealth management market [Relation] cause [Effect] fee margins will remain under pressure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The four-player wireless industry structure has resulted in a long history of stiff price competition, initially as carriers scrambled to gain share in growing market and more recently as carriers have fought to keep customers in a tough economic environment and an independent Oi has struggled to remain viable.",
    "output": "[Cause] The four-player wireless industry structure [Relation] cause [Effect] a long history of stiff price competition",
    "gold": "[Cause] The four-player wireless industry structure [Relation] cause [Effect] a long history of stiff price competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The four-player wireless industry structure has resulted in a long history of stiff price competition, initially as carriers scrambled to gain share in growing market and more recently as carriers have fought to keep customers in a tough economic environment and an independent Oi has struggled to remain viable.",
    "output": "[Cause] carriers scrambled to gain share in growing market [Relation] cause [Effect] a long history of stiff price competition",
    "gold": "[Cause]  carriers have fought to keep customers in a tough economic environment and an independent Oi has struggled to remain viable [Relation] cause [Effect] a long history of stiff price competition",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With the advent of online forums, much information can be gleaned by third parties, such as industry analysts, who previously had no access to informal networks that developed at truck stops and depots.",
    "output": "[Cause] the advent of online forums [Relation] enable [Effect] much information can be gleaned by third parties",
    "gold": "[Cause] the advent of online forums [Relation] cause [Effect] much information can be gleaned by third parties",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The operating margin is likely to expand after 2021 and during 2025, as lower growth in operating expenses (driven by more automation of content, data, and user monitoring), coupled with revenue growth, will create operating leverage.",
    "output": "[Cause] lower growth in operating expenses (driven by more automation of content, data, and user monitoring), coupled with revenue growth, will create operating leverage [Relation] cause [Effect] The operating margin is likely to expand after 2021 and during 2025",
    "gold": "[Cause]  lower growth in operating expenses (driven by more automation of content, data, and user monitoring), coupled with revenue growth, will create operating leverage [Relation] cause [Effect] The operating margin is likely to expand after 2021 and during 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Second, some heart-lung machines (including those of LivaNova) are generally open systems, which means the perfusionist can mix and match the consumable oxygenator with the pumping equipment.",
    "output": "[Cause] some heart-lung machines (including those of LivaNova) are generally open systems [Relation] enable [Effect] the perfusionist can mix and match the consumable oxygenator with the pumping equipment",
    "gold": "[Cause] some heart-lung machines (including those of LivaNova) are generally open systems [Relation] enable [Effect] the perfusionist can mix and match the consumable oxygenator with the pumping equipment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, roughly 20% of sales are related to communications infrastructure, a segment that can have very lumpy performance due to the significant investment costs.",
    "output": "[Cause] the significant investment costs [Relation] cause [Effect] a segment that can have very lumpy performance",
    "gold": "[Cause] the significant investment costs [Relation] cause [Effect] a segment that can have very lumpy performance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the 2021 first-quarter increase was only 1.3%, and we expect this lower level of increase over the next several years due to the economic impact of COVID-19.",
    "output": "[Cause] the economic impact of COVID-19 [Relation] cause [Effect] this lower level of increase over the next several years",
    "gold": "[Cause] the economic impact of COVID-19 [Relation] cause [Effect] we expect this lower level of increase over the next several year",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Fastenal is a valuable channel partner for its suppliers, and we think the firm's large customer base and ability to outgrow its end markets strengthen its standing with its suppliers.",
    "output": "[Cause] the firm's large customer base and ability to outgrow its end markets [Relation] enable [Effect] strengthen its standing with its suppliers",
    "gold": "[Cause] the firm's large customer base and ability to outgrow its end markets [Relation] enable [Effect] strengthen its standing with its suppliers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Combined with a relatively taste sensitive core consumer, leading players can typically maintain volumes at sufficient levels to enjoy favorable unit economics.",
    "output": "[Cause] Combined with a relatively taste sensitive core consumer [Relation] enable [Effect] players can typically maintain volumes at sufficient levels to enjoy favorable unit economics",
    "gold": "[Cause] Combined with a relatively taste sensitive core consumer [Relation] cause [Effect] players can typically maintain volumes at sufficient levels to enjoy favorable unit economics",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Simon will have to re-lease vacant space to new tenants, which may be at lower rents in a negative sales environment.",
    "output": "[Cause] a negative sales environment [Relation] cause [Effect] Simon will have to re-lease vacant space to new tenants",
    "gold": "[Cause] a negative sales environment [Relation] cause [Effect]  re-lease vacant space to new tenants | at lower rents",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The rise in e-commerce should continue to drive demand for warehouse space, although vertical integration among some of Prologis' largest customers is a concern.",
    "output": "[Cause] The rise in e-commerce [Relation] enable [Effect] drive demand for warehouse space",
    "gold": "[Cause] The rise in e-commerce [Relation] cause [Effect] drive demand for warehouse space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Hanesbrands has reported uneven results over the past three years due to store closures, lower retail inventories, weakness in intimate apparel, and, in 2020, COVID-19.",
    "output": "[Cause] store closures, lower retail inventories, weakness in intimate apparel, and, in 2020, COVID-19 [Relation] cause [Effect] Hanesbrands has reported uneven results over the past three years",
    "gold": "[Cause] store closures, lower retail inventories, weakness in intimate apparel, and, in 2020, COVID-19 [Relation] cause [Effect] Hanesbrands has reported uneven results over the past three years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The ag services business is all about capacity utilization, and weather can cause fluctuations in operating rates year to year--as seen with the 2012 drought.",
    "output": "[Cause] weather [Relation] cause [Effect] fluctuations in operating rates year to year",
    "gold": "[Cause] weather [Relation] cause [Effect] fluctuations in operating rates year to year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, Cisco is evolving its portfolio at a more rapid rate to stay ahead of trends in areas such as switching, communications, cybersecurity management, software-defined wide-area networking, and analytics.",
    "output": "[Cause] Cisco is evolving its portfolio at a more rapid rate [Relation] enable [Effect] stay ahead of trends in areas such as switching, communications, cybersecurity management, software-defined wide-area networking, and analytics",
    "gold": "[Cause] Cisco is evolving its portfolio at a more rapid rate [Relation] enable [Effect] stay ahead of trends in areas such as switching, communications, cybersecurity management, software-defined wide-area networking, and analytics",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In retail services (around 35% of fiscal 2020 sales), Valvoline should be able to capitalize on its lubricant brand strength to take share in a fragmented quick lube industry.",
    "output": "[Cause] In retail services (around 35% of fiscal 2020 sales) [Relation] enable [Effect] Valvoline should be able to capitalize on its lubricant brand strength to take share in a fragmented quick lube industry",
    "gold": "[Cause] its lubricant brand strength [Relation] enable [Effect] take share in a fragmented quick lube industry",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our base-case scenario assumes that the net interest margin for Toronto-Dominion initially declines from lower rates, while recovering partially in the later years of our forecast.",
    "output": "[Cause] the net interest margin for Toronto-Dominion initially declines from lower rates [Relation] cause [Effect] recovering partially in the later years of our forecast",
    "gold": "[Cause] our forecast [Relation] enable [Effect] recovering partially",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Recently, there has been growth in Chinese construction equipment manufacturers' crane offerings, which has made crane manufacturing a less attractive business.",
    "output": "[Cause] growth in Chinese construction equipment manufacturers' crane offerings [Relation] cause [Effect] crane manufacturing a less attractive business",
    "gold": "[Cause] growth in Chinese construction equipment manufacturers' crane offerings [Relation] cause [Effect] crane manufacturing a less attractive business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast total operating margin expansion of 660 basis points over our five-year forecast period, driven by gross margin expansion in genomics and the normalization of selling and marketing costs.",
    "output": "[Cause] gross margin expansion in genomics and the normalization of selling and marketing costs [Relation] cause [Effect] We forecast total operating margin expansion of 660 basis points over our five-year forecast period",
    "gold": "[Cause] gross margin expansion in genomics and the normalization of selling and marketing costs [Relation] cause [Effect] We forecast total operating margin expansion of 660 basis points over our five-year forecast period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We acknowledge that Sandvik has led Kennametal in terms of production methods and supply chain optimization, resulting in industry-leading margins.",
    "output": "[Cause] Sandvik has led Kennametal in terms of production methods and supply chain optimization [Relation] cause [Effect] industry-leading margins",
    "gold": "[Cause] Sandvik has led Kennametal in terms of production methods and supply chain optimization [Relation] enable [Effect]  industry-leading margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, investment opportunities have been more limited in the refined products segment. As a result, Magellan has invested more than $5 billion largely elsewhere since 2010 and has built up a respectable but ultimately more volatile and lower-quality crude oil pipeline and marine storage business, which now contributes about 40% of operating margin.",
    "output": "[Cause] investment opportunities have been more limited in the refined products segment [Relation] cause [Effect] Magellan has invested more than $5 billion largely elsewhere since 2010 and has built up a respectable but ultimately more volatile and lower-quality crude oil pipeline and marine storage business, which now contributes about 40% of operating margin",
    "gold": "[Cause] investment opportunities have been more limited in the refined products segment [Relation] cause [Effect] Magellan has invested more than $5 billion largely elsewhere since 2010 and has built up a respectable but ultimately more volatile and lower-quality crude oil pipeline and marine storage business, which now contributes about 40% of operating margin",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We've increased our fair value estimate to $248 from $236 to reflect stronger end-market performance in both agriculture and construction markets.",
    "output": "[Cause] stronger end-market performance in both agriculture and construction markets [Relation] cause [Effect] We've increased our fair value estimate to $248 from $236",
    "gold": "[Cause] stronger end-market performance in both agriculture and construction markets [Relation] cause [Effect] We've increased our fair value estimate to $248 from $236",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "AWS has driven profitability for the entire company鈥攁lthough it represents 10% to 15% of revenue, it generates 60% to 65% of total operating profit dollars for Amazon.",
    "output": "[Cause] AWS has driven profitability for the entire company [Relation] cause [Effect] generates 60% to 65% of total operating profit dollars for Amazon",
    "gold": "[Cause] AWS has driven profitability for the entire company [Relation] cause [Effect] generates 60% to 65% of total operating profit dollars for Amazon",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the additional subscriptions per customer make Fortinet stickier with its enterprise customers and its revenue streams less susceptible to IT hardware spending downturns.",
    "output": "[Cause] the additional subscriptions per customer [Relation] enable [Effect] Fortinet stickier with its enterprise customers",
    "gold": "[Cause] the additional subscriptions per customer [Relation] cause [Effect] Fortinet stickier with its enterprise customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the additional subscriptions per customer make Fortinet stickier with its enterprise customers and its revenue streams less susceptible to IT hardware spending downturns.",
    "output": "[Cause] the additional subscriptions per customer [Relation] enable [Effect] Fortinet stickier with its enterprise customers",
    "gold": "[Cause] Fortinet stickier with its enterprise customers [Relation] enable [Effect] its revenue streams less susceptible to IT hardware spending downturns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Revenue growth for the flavors and extracts segment will be driven primarily by higher volumes and, to a lesser extent, improving prices via a higher-value product mix.",
    "output": "[Cause] higher volumes [Relation] enable [Effect] Revenue growth for the flavors and extracts segment",
    "gold": "[Cause] higher volumes [Relation] cause [Effect] Revenue growth for the flavors and extracts segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Revenue growth for the flavors and extracts segment will be driven primarily by higher volumes and, to a lesser extent, improving prices via a higher-value product mix.",
    "output": "[Cause] Revenue growth for the flavors and extracts segment will be driven primarily by higher volumes [Relation] enable [Effect] improving prices via a higher-value product mix",
    "gold": "[Cause] a higher-value product mix [Relation] cause [Effect] improving prices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Risks tend to include environmental damage from chemical waste that typically occurs around a manufacturing site. This typically results in remediation and litigation expenses that can range from the tens of millions of dollars to over $1 billion, depending on the extent of the damage.",
    "output": "[Cause] Risks tend to include environmental damage from chemical waste that typically occurs around a manufacturing site [Relation] cause [Effect] remediation and litigation expenses that can range from the tens of millions of dollars to over $1 billion, depending on the extent of the damage",
    "gold": "[Cause] Risks tend to include environmental damage from chemical waste that typically occurs around a manufacturing site [Relation] cause [Effect] remediation and litigation expenses that can range from the tens of millions of dollars to over $1 billion, depending on the extent of the damage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, as profits and free cash flow grow from the restoration of the salt business, we expect Compass will be able to reduce its leverage.",
    "output": "[Cause] profits and free cash flow grow from the restoration of the salt business [Relation] cause [Effect] we expect Compass will be able to reduce its leverage",
    "gold": "[Cause]  profits and free cash flow grow from the restoration of the salt business [Relation] cause [Effect] we expect Compass will be able to reduce its leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect net interest income to grow at a nearly 7% annual rate due to the buildup of the Marcus platform and an eventual recovery in interest rates.",
    "output": "[Cause] the buildup of the Marcus platform and an eventual recovery in interest rates [Relation] cause [Effect] net interest income to grow at a nearly 7% annual rate",
    "gold": "[Cause]  the buildup of the Marcus platform and an eventual recovery in interest rates [Relation] cause [Effect]  net interest income to grow at a nearly 7% annual rate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With only around 20% of its normalized sales coming from food (which generates recurring traffic), we believe Target must invest to remain at the top of shoppers' minds.",
    "output": "[Cause] only around 20% of its normalized sales coming from food [Relation] cause [Effect] Target must invest to remain at the top of shoppers' minds",
    "gold": "[Cause] only around 20% of its normalized sales coming from food [Relation] cause [Effect] Target must invest to remain at the top of shoppers' minds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As consumers can find many similar cannabis products across various dispensaries, cannabis companies will also have to differentiate their products from their competitors and establish brand equity in order to potentially create brand intangibles in the future.",
    "output": "[Cause] differentiate their products from their competitors and establish brand equity [Relation] enable [Effect] potentially create brand intangibles in the future",
    "gold": "[Cause] differentiate their products from their competitors and establish brand equity [Relation] enable [Effect] potentially create brand intangibles in the future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Sabre will maintain its network, switching cost, and efficient scale advantages, driven by challenges in replicating its competitive position and the value its offering provides suppliers, agents, and travelers.",
    "output": "[Cause] challenges in replicating its competitive position and the value its offering provides suppliers, agents, and travelers [Relation] cause [Effect] Sabre will maintain its network, switching cost, and efficient scale advantages",
    "gold": "[Cause] challenges in replicating its competitive position and the value its offering provides suppliers, agents, and travelers [Relation] enable [Effect] Sabre will maintain its network, switching cost, and efficient scale advantages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, Honeywell was wise to continue investing aggressively during the height of the pandemic, which we think will reward the firm with share gains.",
    "output": "[Cause] Honeywell was wise to continue investing aggressively during the height of the pandemic [Relation] enable [Effect] reward the firm with share gains",
    "gold": "[Cause] Honeywell was wise to continue investing aggressively during the height of the pandemic [Relation] cause [Effect] reward the firm with share gains",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While equity market/currency volatility and trade wars can create uneven periods of consumer confidence and spending, we remain constructive on the longer spending potential of the Chinese consumer.",
    "output": "[Cause] equity market/currency volatility and trade wars [Relation] cause [Effect] uneven periods of consumer confidence and spending",
    "gold": "[Cause] equity market/currency volatility and trade wars [Relation] enable [Effect]  uneven periods of consumer confidence and spending",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, the performance and asset values of Healthpeak's portfolio will suffer if Healthpeak's operating partners fail to provide superior care or Healthpeak's assets fail to retain the top tenants.",
    "output": "[Cause] Healthpeak's operating partners fail to provide superior care [Relation] cause [Effect] the performance and asset values of Healthpeak's portfolio will suffer",
    "gold": "[Cause] Healthpeak's operating partners fail to provide superior care [Relation] cause [Effect] the performance and asset values of Healthpeak's portfolio will suffer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, the performance and asset values of Healthpeak's portfolio will suffer if Healthpeak's operating partners fail to provide superior care or Healthpeak's assets fail to retain the top tenants.",
    "output": "[Cause] Healthpeak's assets fail to retain the top tenants [Relation] cause [Effect] the performance and asset values of Healthpeak's portfolio will suffer",
    "gold": "[Cause] Healthpeak's assets fail to retain the top tenants [Relation] cause [Effect] the performance and asset values of Healthpeak's portfolio will suffer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Risks surrounding a additional waves of COVID-19 cases and elongated time until an effective treatment and vaccine are widely distributed, which drove Expedia's 2020 revenue down 57% and could delay our forecast recovery in demand.",
    "output": "[Cause] Risks surrounding a additional waves of COVID-19 cases and elongated time until an effective treatment and vaccine are widely distributed [Relation] cause [Effect] Expedia's 2020 revenue down 57% and could delay our forecast recovery in demand",
    "gold": "[Cause] Risks surrounding a additional waves of COVID-19 cases and elongated time until an effective treatment and vaccine are widely distributed [Relation] cause [Effect] Expedia's 2020 revenue down 57% and could delay our forecast recovery in demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This risk was evident throughout parts of 2018-19 due to railroads' intermodal scheduling tweaks linked to precision scheduled railroading initiatives which drove network congestion and sluggish train speeds.",
    "output": "[Cause] railroads' intermodal scheduling tweaks linked to precision scheduled railroading initiatives which drove network congestion and sluggish train speeds [Relation] cause [Effect] This risk was evident throughout parts of 2018-19",
    "gold": "[Cause] railroads' intermodal scheduling tweaks linked to precision scheduled railroading initiatives [Relation] cause [Effect] network congestion and sluggish train speeds",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With an eye on the future, we expect CGI to benefit from vendor consolidation through its 'build and buy' strategy as it continues to acquire smaller IT firms, with their own niche expertise, to gain access to more localized markets across the globe.",
    "output": "[Cause] it continues to acquire smaller IT firms, with their own niche expertise, to gain access to more localized markets across the globe [Relation] cause [Effect] CGI to benefit from vendor consolidation through its 'build and buy' strategy",
    "gold": "[Cause] With an eye on the future, we expect CGI to benefit from vendor consolidation through its 'build and buy' strategy [Relation] enable [Effect]  as it continues to acquire smaller IT firms, with their own niche expertise, to gain access to more localized markets across the globe.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Though pressure on ETF expense ratios has weighed on MSCI's license fee rate (which is roughly 2.7 basis points), MSCI has benefited from market appreciation and robust net inflows as investors seek low-cost passive ETFs.",
    "output": "[Cause] pressure on ETF expense ratios [Relation] prevent [Effect] MSCI's license fee rate",
    "gold": "[Cause] investors seek low-cost passive ETFs [Relation] cause [Effect] MSCI has benefited from market appreciation and robust net inflows",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Fiscal 2021 will also face headwinds as the firm executes its value-over-volume strategy in the newly acquired Pinnacle Foods business as well as the food-service segment.",
    "output": "[Cause] the firm executes its value-over-volume strategy in the newly acquired Pinnacle Foods business as well as the food-service segment [Relation] cause [Effect] Fiscal 2021 will also face headwinds",
    "gold": "[Cause] the firm executes its value-over-volume strategy in the newly acquired Pinnacle Foods business as well as the food-service segment [Relation] cause [Effect] Fiscal 2021 will also face headwinds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "People need to travel for business when the economy is expanding and want to travel when jobs and income are steady, but travel is one of the first things cut as confidence in the economy falls.",
    "output": "[Cause] the economy is expanding [Relation] cause [Effect] People need to travel for business",
    "gold": "[Cause] the economy is expanding [Relation] cause [Effect] People need to travel for business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "People need to travel for business when the economy is expanding and want to travel when jobs and income are steady, but travel is one of the first things cut as confidence in the economy falls.",
    "output": "[Cause] confidence in the economy falls [Relation] cause [Effect] travel is one of the first things cut",
    "gold": "[Cause]  jobs and income are steady [Relation] cause [Effect] want to travel",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "People need to travel for business when the economy is expanding and want to travel when jobs and income are steady, but travel is one of the first things cut as confidence in the economy falls.",
    "output": "[Cause] confidence in the economy falls [Relation] cause [Effect] travel is one of the first things cut",
    "gold": "[Cause] confidence in the economy falls [Relation] enable [Effect] travel is one of the first things cut",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see structural demand risk going forward from the growing electrification of vehicles, as Kautex has few other components other than fuel systems, which would put the company in a position of structural overcapacity.",
    "output": "[Cause] Kautex has few other components other than fuel systems [Relation] cause [Effect] structural demand risk going forward from the growing electrification of vehicles",
    "gold": "[Cause] Kautex has few other components other than fuel systems [Relation] cause [Effect] put the company in a position of structural overcapacity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The reversal of these trends would negatively affect apartments, and this could happen quickly since most leases run for only 12 months.",
    "output": "[Cause] most leases run for only 12 months [Relation] cause [Effect] The reversal of these trends would negatively affect apartments",
    "gold": "[Cause] most leases run for only 12 months [Relation] cause [Effect] The reversal of these trends would negatively affect apartments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Uber Eats, the firm's food delivery service, will be one of the main revenue growth drivers for the firm as it will benefit from cross-selling to its large ride-sharing user base.",
    "output": "[Cause] it will benefit from cross-selling to its large ride-sharing user base [Relation] cause [Effect] Uber Eats, the firm's food delivery service, will be one of the main revenue growth drivers for the firm",
    "gold": "[Cause] it will benefit from cross-selling to its large ride-sharing user base [Relation] cause [Effect] Uber Eats, the firm's food delivery service, will be one of the main revenue growth drivers for the firm",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have seen this many times now with the rise of increasingly dominant SaaS companies catching the legacy vendors off-guard—in this case, BMC, CA, IBM, and Micro Focus (including HP's software portfolio).",
    "output": "[Cause] the rise of increasingly dominant SaaS companies catching the legacy vendors off-guard [Relation] cause [Effect] We have seen this many times now",
    "gold": "[Cause] the rise of increasingly dominant SaaS companies [Relation] cause [Effect] catching the legacy vendors off-guard—in this case, BMC, CA, IBM, and Micro Focus (including HP's software portfolio)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Interest rates on NHG mortgages however still comfortably exceeds sovereign yields so it remains profitable for Dutch banks to grant NHG mortgages.",
    "output": "[Cause] Interest rates on NHG mortgages however still comfortably exceeds sovereign yields [Relation] cause [Effect] it remains profitable for Dutch banks to grant NHG mortgages",
    "gold": "[Cause] Interest rates on NHG mortgages however still comfortably exceeds sovereign yields [Relation] enable [Effect] it remains profitable for Dutch banks to grant NHG mortgages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that NetApp gains from the converged and hyperconverged infrastructure trends as IT teams favor scalability and flexibility over large dedicated storage and compute racks in certain applications.",
    "output": "[Cause] IT teams favor scalability and flexibility over large dedicated storage and compute racks in certain applications [Relation] cause [Effect] NetApp gains from the converged and hyperconverged infrastructure trends",
    "gold": "[Cause] the converged and hyperconverged infrastructure trends [Relation] enable [Effect] NetApp gains",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Based on relatively high gross margins and a maintaining a relatively small direct salesforce in a low-touch model, we think GAAP operating margins should ultimately skew higher than the software average.",
    "output": "[Cause] Based on relatively high gross margins and a maintaining a relatively small direct salesforce in a low-touch model [Relation] cause [Effect] GAAP operating margins should ultimately skew higher than the software average",
    "gold": "[Cause] Based on relatively high gross margins and a maintaining a relatively small direct salesforce in a low-touch model [Relation] enable [Effect] GAAP operating margins should ultimately skew higher than the software average",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While R&D will expand and contract as product cycles run their course, we expect the company to continually spend a far greater percentage of revenue on R&D than other car companies to maintain a prestigious position as a Formula One racing powertrain innovator.",
    "output": "[Cause] product cycles run their course [Relation] cause [Effect] R&D will expand and contract",
    "gold": "[Cause] R&D will expand and contract as product cycles run their course [Relation] enable [Effect] the company to continually spend a far greater percentage of revenue on R&D than other car companies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect RingCentral to report an average GAAP gross margin of 77.6% over our explicit forecast period, with both GAAP and non-GAAP gross margins expanding into the mid-80s as the business scales up.",
    "output": "[Cause] the business scales up [Relation] cause [Effect] both GAAP and non-GAAP gross margins expanding into the mid-80s",
    "gold": "[Cause] both GAAP and non-GAAP gross margins expanding into the mid-80s as the business scales up [Relation] cause [Effect] We expect RingCentral to report an average GAAP gross margin of 77.6% over our explicit forecast period",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "It would be catastrophic for VeriSign (and investors) if this benefit were rescinded, but given VeriSign's effective operations over the years, we think such a dire scenario is unlikely.",
    "output": "[Cause] VeriSign's effective operations over the years [Relation] cause [Effect] such a dire scenario is unlikely",
    "gold": "[Cause] VeriSign's effective operations over the years [Relation] cause [Effect] such a dire scenario is unlikely",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, Grainger's established reputation and inventory management capabilities should prevent a \"\"\"\"race to the bottom\"\"\"\" in terms of pricing; however, if Grainger's gross margins converged with Amazon's, we estimate that the firm would struggle to generate excess returns.",
    "output": "[Cause] Grainger's gross margins converged with Amazon's [Relation] cause [Effect] the firm would struggle to generate excess returns",
    "gold": "[Cause] Grainger's gross margins converged with Amazon's [Relation] cause [Effect]  the firm would struggle to generate excess returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Assuming credit spreads aren't prohibitive, we believe the combination of lower interest rates and lower valuation multiples for acquisition targets could make SS&C's acquisition strategy more accretive.",
    "output": "[Cause] credit spreads aren't prohibitive [Relation] cause [Effect] the combination of lower interest rates and lower valuation multiples for acquisition targets could make SS&C's acquisition strategy more accretive",
    "gold": "[Cause] the combination of lower interest rates and lower valuation multiples for acquisition targets [Relation] enable [Effect] SS&C's acquisition strategy more accretive",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also think the security business will help prop up the CDN, as security solutions can both draw in new customers and give an edge to Akamai's CDN that competitors don't have.",
    "output": "[Cause] security solutions can both draw in new customers [Relation] cause [Effect] give an edge to Akamai's CDN that competitors don't have",
    "gold": "[Cause] the security business [Relation] enable [Effect] prop up the CDN",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also think the security business will help prop up the CDN, as security solutions can both draw in new customers and give an edge to Akamai's CDN that competitors don't have.",
    "output": "[Cause] security solutions can both draw in new customers and give an edge to Akamai's CDN that competitors don't have [Relation] cause [Effect] the security business will help prop up the CDN",
    "gold": "[Cause] security solutions can both draw in new customers and give an edge to Akamai's CDN that competitors don't have [Relation] cause [Effect]  the security business will help prop up the CDN",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also think ON has differentiated power chip and sensor designs that give it pricing power and benefits from switching costs in the sticky automotive and industrial end markets.",
    "output": "[Cause] ON has differentiated power chip and sensor designs [Relation] enable [Effect] give it pricing power and benefits from switching costs in the sticky automotive and industrial end markets",
    "gold": "[Cause] ON has differentiated power chip and sensor designs [Relation] cause [Effect] give it pricing power and benefits from switching costs in the sticky automotive and industrial end markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By focusing on the luxury auto market first, Tesla was able to create tremendous media publicity for the company that reaches beyond its customers. This generated strong consumer demand for its subsequent vehicles at lower price points, such as the Model 3 and Model Y.",
    "output": "[Cause] By focusing on the luxury auto market first, Tesla was able to create tremendous media publicity for the company that reaches beyond its customers [Relation] cause [Effect] generated strong consumer demand for its subsequent vehicles at lower price points, such as the Model 3 and Model Y",
    "gold": "[Cause] By focusing on the luxury auto market first, Tesla was able to create tremendous media publicity for the company that reaches beyond its customers [Relation] cause [Effect] generated strong consumer demand for its subsequent vehicles at lower price points, such as the Model 3 and Model Y",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, these headwinds are dissipating, and FedEx's heavy investment spending seems to be paying off in greater efficiency and an enhanced ability to capitalize on e-commerce tailwinds.",
    "output": "[Cause] FedEx's heavy investment spending seems to be paying off in greater efficiency and an enhanced ability to capitalize on e-commerce tailwinds [Relation] cause [Effect] these headwinds are dissipating",
    "gold": "[Cause] FedEx's heavy investment spending [Relation] cause [Effect] paying off in greater efficiency and an enhanced ability to capitalize on e-commerce tailwinds",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These partners refer Paylocity to businesses due to the ease of the data transfer process, lack of competing products, and easy-to-use portal.",
    "output": "[Cause] the ease of the data transfer process, lack of competing products, and easy-to-use portal [Relation] cause [Effect] These partners refer Paylocity to businesses",
    "gold": "[Cause] the ease of the data transfer process, lack of competing products, and easy-to-use portal [Relation] cause [Effect] These partners refer Paylocity to businesses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We raise our fair value estimate to EUR 22 per share from EUR 20.5 to account for better-than-expected second-quarter results, a function of higher COVID-19-related sales/profits.",
    "output": "[Cause] better-than-expected second-quarter results [Relation] cause [Effect] raise our fair value estimate to EUR 22 per share from EUR 20.5",
    "gold": "[Cause] better-than-expected second-quarter results [Relation] cause [Effect] raise our fair value estimate to EUR 22 per share from EUR 20.5",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We raise our fair value estimate to EUR 22 per share from EUR 20.5 to account for better-than-expected second-quarter results, a function of higher COVID-19-related sales/profits.",
    "output": "[Cause] higher COVID-19-related sales/profits [Relation] cause [Effect] better-than-expected second-quarter results",
    "gold": "[Cause] higher COVID-19-related sales/profits [Relation] cause [Effect] better-than-expected second-quarter results",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall global meat consumption is also on the rise, as people have become more conscious of protein intake in their diet.",
    "output": "[Cause] people have become more conscious of protein intake in their diet [Relation] cause [Effect] Overall global meat consumption is also on the rise",
    "gold": "[Cause] people have become more conscious of protein intake in their diet [Relation] cause [Effect] Overall global meat consumption is also on the rise",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Exploration and development projects are situated high on the crude oil production cost curve and require high levels of capital spending to increase resource potential.",
    "output": "[Cause] Exploration and development projects are situated high on the crude oil production cost curve [Relation] cause [Effect] require high levels of capital spending to increase resource potential",
    "gold": "[Cause] Exploration and development projects are situated high on the crude oil production cost curve [Relation] cause [Effect]  require high levels of capital spending to increase resource potential",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition to increased competition, Yum China must contend with GDP growth and consumer spending volatility (amplified by the coronavirus outbreak and containment efforts), state-mandated wage rate increases, and uneven commodity cost, each of which could negatively impact top-line growth and profitability.",
    "output": "[Cause] In addition to increased competition, Yum China must contend with GDP growth and consumer spending volatility (amplified by the coronavirus outbreak and containment efforts), state-mandated wage rate increases, and uneven commodity cost [Relation] cause [Effect] each of which could negatively impact top-line growth and profitability",
    "gold": "[Cause] In addition to increased competition, Yum China must contend with GDP growth and consumer spending volatility (amplified by the coronavirus outbreak and containment efforts), state-mandated wage rate increases, and uneven commodity cost [Relation] cause [Effect] each of which could negatively impact top-line growth and profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And even if economic conditions wane, we don't think a decaying climate will impede Hershey's trajectory, given the variety of pack sizes within its mix (stemming from its vast channel reach).",
    "output": "[Cause] the variety of pack sizes within its mix (stemming from its vast channel reach) [Relation] cause [Effect] we don't think a decaying climate will impede Hershey's trajectory",
    "gold": "[Cause] the variety of pack sizes within its mix (stemming from its vast channel reach) [Relation] cause [Effect] we don't think a decaying climate will impede Hershey's trajectory",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, considering Qiagen's strong reputation in a relatively low-cost but essential input to their scientific projects (sample preparation), scientists appear reluctant to switch providers due 7 Jul 2021 05:00, UTCto consistency and reproducibility factors, which add to the switching costs in this business.",
    "output": "[Cause] Qiagen's strong reputation in a relatively low-cost but essential input to their scientific projects (sample preparation) [Relation] cause [Effect] scientists appear reluctant to switch providers",
    "gold": "[Cause]  consistency and reproducibility factors [Relation] cause [Effect]  scientists appear reluctant to switch providers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Overall, considering Qiagen's strong reputation in a relatively low-cost but essential input to their scientific projects (sample preparation), scientists appear reluctant to switch providers due 7 Jul 2021 05:00, UTCto consistency and reproducibility factors, which add to the switching costs in this business.",
    "output": "[Cause] scientists appear reluctant to switch providers [Relation] cause [Effect] add to the switching costs in this business",
    "gold": "[Cause]  scientists appear reluctant to switch providers [Relation] cause [Effect] add to the switching costs in this business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, considering Qiagen's strong reputation in a relatively low-cost but essential input to their scientific projects (sample preparation), scientists appear reluctant to switch providers due 7 Jul 2021 05:00, UTCto consistency and reproducibility factors, which add to the switching costs in this business.",
    "output": "[Cause] scientists appear reluctant to switch providers [Relation] cause [Effect] add to the switching costs in this business",
    "gold": "[Cause] Qiagen's strong reputation in a relatively low-cost but essential input to their scientific projects (sample preparation) [Relation] cause [Effect]  scientists appear reluctant to switch providers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, the company has focused on partnering with small to midsized retailers, such as apparel and mall-focused brands, that typically generate even less interest among major credit card issuers, leaving more room for Alliance Data Systems.",
    "output": "[Cause] the company has focused on partnering with small to midsized retailers [Relation] cause [Effect] leaving more room for Alliance Data Systems",
    "gold": "[Cause] the company has focused on partnering with small to midsized retailers [Relation] cause [Effect] leaving more room for Alliance Data Systems",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The strategic advantage of the merger was not initially clear, as IMS Health provided most of its data to biotechnology and pharmaceutical companies rather than other CROs.",
    "output": "[Cause] IMS Health provided most of its data to biotechnology and pharmaceutical companies rather than other CROs [Relation] cause [Effect] The strategic advantage of the merger was not initially clear",
    "gold": "[Cause]  IMS Health provided most of its data to biotechnology and pharmaceutical companies rather than other CROs [Relation] enable [Effect] The strategic advantage of the merger was not initially clear",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the lack of existing businesses could ironically help Mizuho adapt more flexibly than its rivals if digitalization increasingly disrupts businesses such as credit card payments.",
    "output": "[Cause] the lack of existing businesses [Relation] enable [Effect] Mizuho adapt more flexibly than its rivals",
    "gold": "[Cause] the lack of existing businesses [Relation] enable [Effect]  Mizuho adapt more flexibly than its rivals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Pfizer's patent-protected drugs carry strong pricing power that enables the firm to generate returns on invested capital in excess of its cost of capital.",
    "output": "[Cause] Pfizer's patent-protected drugs carry strong pricing power [Relation] enable [Effect] the firm to generate returns on invested capital in excess of its cost of capital",
    "gold": "[Cause] Pfizer's patent-protected drugs carry strong pricing power [Relation] enable [Effect] the firm to generate returns on invested capital in excess of its cost of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "BNP Paribas' risk management has also been better, it seems, with it large avoiding the massive write-downs that many of its European peers have suffered.",
    "output": "[Cause] it large avoiding the massive write-downs that many of its European peers have suffered [Relation] cause [Effect] BNP Paribas' risk management has also been better",
    "gold": "[Cause] it large avoiding the massive write-downs that many of its European peers have suffered [Relation] enable [Effect] BNP Paribas' risk management has also been better",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Carnival was already facing pricing headwinds, with weak performance across European geographies, when the global spread of COVID-19 exacerbated its plight. As a result, 2020 was even more difficult to navigate than past recessions, as ships largely stopped sailing after March (with limited capacity in Europe for a very short period).",
    "output": "[Cause] Carnival was already facing pricing headwinds, with weak performance across European geographies, when the global spread of COVID-19 exacerbated its plight [Relation] cause [Effect] 2020 was even more difficult to navigate than past recessions, as ships largely stopped sailing after March (with limited capacity in Europe for a very short period)",
    "gold": "[Cause] Carnival was already facing pricing headwinds, with weak performance across European geographies, when the global spread of COVID-19 exacerbated its plight [Relation] cause [Effect] 2020 was even more difficult to navigate than past recessions, as ships largely stopped sailing after March (with limited capacity in Europe for a very short period)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, in late 2018, the LTL freight division declined to accept customer shipments for a brief period due to concerns about an imminent labor strike.",
    "output": "[Cause] concerns about an imminent labor strike [Relation] cause [Effect] in late 2018, the LTL freight division declined to accept customer shipments for a brief period",
    "gold": "[Cause] concerns about an imminent labor strike [Relation] cause [Effect] in late 2018, the LTL freight division declined to accept customer shipments for a brief period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "More stringent emissions regulation has caused truck OEMs to question whether it makes sense for them to continue producing their own engines and components.",
    "output": "[Cause] More stringent emissions regulation [Relation] cause [Effect] truck OEMs to question whether it makes sense for them to continue producing their own engines and components",
    "gold": "[Cause] More stringent emissions regulation [Relation] cause [Effect]  truck OEMs to question whether it makes sense for them to continue producing their own engines and components",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Meanwhile, we think continued scale will help drive research and development costs down from 18% in fiscal 2020 to 16% in fiscal 2025, as synergies are yielded between Credit Karma and Mint.",
    "output": "[Cause] synergies are yielded between Credit Karma and Mint [Relation] cause [Effect] continued scale will help drive research and development costs down from 18% in fiscal 2020 to 16% in fiscal 2025",
    "gold": "[Cause] synergies are yielded between Credit Karma and Mint [Relation] cause [Effect] continued scale will help drive research and development costs down from 18% in fiscal 2020 to 16% in fiscal 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Coach bags achieve prices above those of comparable bags in the affordable luxury part of the market because the Coach brand is stronger than most other competing brands.",
    "output": "[Cause] the Coach brand is stronger than most other competing brands [Relation] cause [Effect] Coach bags achieve prices above those of comparable bags in the affordable luxury part of the market",
    "gold": "[Cause] the Coach brand is stronger than most other competing brands [Relation] enable [Effect] Coach bags achieve prices above those of comparable bags in the affordable luxury part of the market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, operators think it can accommodate at least 20 wells per square mile on the surface, which is at least double the optimum density in other plays. As a result, there are still enough undrilled well locations in the basin to keep the E&P industry busy for decades.",
    "output": "[Cause] operators think it can accommodate at least 20 wells per square mile on the surface, which is at least double the optimum density in other plays [Relation] cause [Effect] there are still enough undrilled well locations in the basin to keep the E&P industry busy for decades",
    "gold": "[Cause] operators think it can accommodate at least 20 wells per square mile on the surface, which is at least double the optimum density in other plays [Relation] cause [Effect]  there are still enough undrilled well locations in the basin to keep the E&P industry busy for decades",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast ROICs that rise to the mid-20s as some of the economic profits that are generated are reinvested into the business to elevate the brand.",
    "output": "[Cause] some of the economic profits that are generated are reinvested into the business to elevate the brand [Relation] cause [Effect] ROICs that rise to the mid-20s",
    "gold": "[Cause]  some of the economic profits that are generated are reinvested into the business to elevate the brand [Relation] cause [Effect] ROICs that rise to the mid-20s",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that negligible product differentiation and ubiquitous dual-sourcing erodes pricing power for any HDD supplier, which is evidenced by Seagate and Western's HDD business having practically identical gross margins.",
    "output": "[Cause] negligible product differentiation and ubiquitous dual-sourcing [Relation] cause [Effect] erodes pricing power for any HDD supplier",
    "gold": "[Cause]  negligible product differentiation and ubiquitous dual-sourcing [Relation] cause [Effect]  erodes pricing power for any HDD supplier",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Consumer behavior surrounding travel and social distancing is set to alter the economic performance of Royal Caribbean over an extended horizon.",
    "output": "[Cause] Consumer behavior surrounding travel and social distancing [Relation] cause [Effect] alter the economic performance of Royal Caribbean over an extended horizon",
    "gold": "[Cause] Consumer behavior surrounding travel and social distancing [Relation] cause [Effect] alter the economic performance of Royal Caribbean over an extended horizon",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Local station revenue has also been lifted by the growth of retransmission revenue over the past 15 years.",
    "output": "[Cause] the growth of retransmission revenue over the past 15 years [Relation] enable [Effect] Local station revenue has also been lifted",
    "gold": "[Cause]  the growth of retransmission revenue over the past 15 years [Relation] enable [Effect] Local station revenue has also been lifted",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Juniper's partnership with Ericsson enables a more complete wireless networks portfolio for service providers, but we believe Ericsson's antenna and software technology lead the sales process.",
    "output": "[Cause] Juniper's partnership with Ericsson [Relation] enable [Effect] a more complete wireless networks portfolio for service providers",
    "gold": "[Cause] Juniper's partnership with Ericsson enables a more complete wireless networks portfolio for service providers [Relation] enable [Effect] but we believe Ericsson's antenna and software technology lead the sales process",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Years of government efforts have done little to stem illegal cannabis, but a change to the ease of accessing black market supply could have a significant impact on the pricing power, and thus the profitability of legal cannabis companies.",
    "output": "[Cause] Years of government efforts [Relation] prevent [Effect] illegal cannabis",
    "gold": "[Cause] a change to the ease of accessing black market supply [Relation] cause [Effect] have a significant impact on the pricing power",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Recall that UP accelerated its PSR adoption by installing former Canadian National COO Jim Vena as COO in early 2019, and results have been impressive over the past two years.",
    "output": "[Cause] installing former Canadian National COO Jim Vena as COO in early 2019 [Relation] enable [Effect] UP accelerated its PSR adoption",
    "gold": "[Cause] installing former Canadian National COO Jim Vena as COO in early 2019 [Relation] enable [Effect] UP accelerated its PSR adoption",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Recall that UP accelerated its PSR adoption by installing former Canadian National COO Jim Vena as COO in early 2019, and results have been impressive over the past two years.",
    "output": "[Cause] installing former Canadian National COO Jim Vena as COO in early 2019 [Relation] enable [Effect] UP accelerated its PSR adoption",
    "gold": "[Cause] UP accelerated its PSR adoption [Relation] cause [Effect] results have been impressive over the past two years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Higher yields for Talecris' IVIG production and efficient use of more proteins in plasma have boosted margins, but the firm will continue to see incremental improvements in plasma gross margins due to economies of scale.",
    "output": "[Cause] economies of scale [Relation] cause [Effect] the firm will continue to see incremental improvements in plasma gross margins",
    "gold": "[Cause] Higher yields for Talecris' IVIG production and efficient use of more proteins in plasma [Relation] cause [Effect]  boosted margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Higher yields for Talecris' IVIG production and efficient use of more proteins in plasma have boosted margins, but the firm will continue to see incremental improvements in plasma gross margins due to economies of scale.",
    "output": "[Cause] economies of scale [Relation] cause [Effect] the firm will continue to see incremental improvements in plasma gross margins",
    "gold": "[Cause] economies of scale [Relation] cause [Effect] the firm will continue to see incremental improvements in plasma gross margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, with the bank's solid mix of fee income, JPMorgan will be better insulated if rates should ever decline again as it is less dependent on rate sensitive net interest income.",
    "output": "[Cause] it is less dependent on rate sensitive net interest income [Relation] cause [Effect] JPMorgan will be better insulated if rates should ever decline again",
    "gold": "[Cause]  it is less dependent on rate sensitive net interest income [Relation] cause [Effect] JPMorgan will be better insulated if rates should ever decline again",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Zions has improved its efficiency ratio from the mid-70s in 2014 to the low 60s/upper 50s through a mix of improvements that held noninterest expense largely flat for years while net revenue grew.",
    "output": "[Cause] a mix of improvements [Relation] enable [Effect] Zions has improved its efficiency ratio from the mid-70s in 2014 to the low 60s/upper 50s",
    "gold": "[Cause] a mix of improvements [Relation] cause [Effect] Zions has improved its efficiency ratio from the mid-70s in 2014 to the low 60s/upper 50s",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management prefers the used model of EchoPark due to higher return on investment in used vehicles over new vehicles and because Sonic has sole control over EchoPark, whereas new vehicle operations and store appearance at franchised stores are mostly under the control of an automaker.",
    "output": "[Cause] Sonic has sole control over EchoPark [Relation] cause [Effect] Management prefers the used model of EchoPark",
    "gold": "[Cause] higher return on investment in used vehicles over new vehicles [Relation] cause [Effect] Management prefers the used model of EchoPark",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Management prefers the used model of EchoPark due to higher return on investment in used vehicles over new vehicles and because Sonic has sole control over EchoPark, whereas new vehicle operations and store appearance at franchised stores are mostly under the control of an automaker.",
    "output": "[Cause] Sonic has sole control over EchoPark [Relation] cause [Effect] Management prefers the used model of EchoPark",
    "gold": "[Cause] Sonic has sole control over EchoPark [Relation] cause [Effect] Management prefers the used model of EchoPark",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the Chinese government has improved the coal-power price linkage mechanism in recent years, the Chinese government-controlled on-grid tariffs are usually slow to respond to coal price movements, which have historically led Huaneng to earn below its cost of capital.",
    "output": "[Cause] the Chinese government has improved the coal-power price linkage mechanism in recent years, the Chinese government-controlled on-grid tariffs are usually slow to respond to coal price movements [Relation] cause [Effect] Huaneng to earn below its cost of capital",
    "gold": "[Cause]  the Chinese government has improved the coal-power price linkage mechanism in recent years, the Chinese government-controlled on-grid tariffs are usually slow to respond to coal price movements [Relation] cause [Effect] Huaneng to earn below its cost of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The pandemic should increase e-commerce adoption long term (as some customers introduced to the channel during shelter-at-home orders remain), but we expect full-price sellers to bear most of the shift.",
    "output": "[Cause] The pandemic [Relation] cause [Effect] increase e-commerce adoption long term",
    "gold": "[Cause] The pandemic [Relation] cause [Effect] increase e-commerce adoption long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If regulators do not provide fair returns on capital and allow for timely recovery of prudently incurred expenses, then shareholder returns will suffer.",
    "output": "[Cause] regulators do not provide fair returns on capital and allow for timely recovery of prudently incurred expenses [Relation] cause [Effect] shareholder returns will suffer",
    "gold": "[Cause] regulators do not provide fair returns on capital and allow for timely recovery of prudently incurred expenses [Relation] cause [Effect] shareholder returns will suffer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect revenue to grow at a 31% CAGR over the next five years, with growth fueled by the increase in members, increasing visit fees, and cross-selling of multiple services, which should increase the stickiness of its offering.",
    "output": "[Cause] revenue to grow at a 31% CAGR over the next five years, with growth fueled by the increase in members, increasing visit fees, and cross-selling of multiple services [Relation] enable [Effect] increase the stickiness of its offering",
    "gold": "[Cause] growth fueled by the increase in members, increasing visit fees, and cross-selling of multiple services, which should increase the stickiness of its offering [Relation] cause [Effect] revenue to grow at a 31% CAGR over the next five years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Apartment Income's portfolio is typically more suburban than its multifamily REIT peers, which has put it at a slight disadvantage over the past economic cycle but should favor growth in the company as millennials move from the urban centers out into the suburbs over the next few years.",
    "output": "[Cause] Apartment Income's portfolio is typically more suburban than its multifamily REIT peers [Relation] cause [Effect] put it at a slight disadvantage over the past economic cycle",
    "gold": "[Cause] millennials move from the urban centers out into the suburbs over the next few years [Relation] enable [Effect]  favor growth in the company",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Apartment Income's portfolio is typically more suburban than its multifamily REIT peers, which has put it at a slight disadvantage over the past economic cycle but should favor growth in the company as millennials move from the urban centers out into the suburbs over the next few years.",
    "output": "[Cause] millennials move from the urban centers out into the suburbs over the next few years [Relation] cause [Effect] favor growth in the company",
    "gold": "[Cause] Apartment Income's portfolio is typically more suburban than its multifamily REIT peers [Relation] cause [Effect]  has put it at a slight disadvantage over the past economic cycle",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If the Sprint integration is successful, we expect the new entity to have a materially improved business profile with greater scale and network capabilities, enhancing its long-term competitive position.",
    "output": "[Cause] the Sprint integration is successful [Relation] enable [Effect] the new entity to have a materially improved business profile with greater scale and network capabilities",
    "gold": "[Cause]  the Sprint integration is successful [Relation] cause [Effect] the new entity to have a materially improved business profile with greater scale and network capabilities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the Sprint integration is successful, we expect the new entity to have a materially improved business profile with greater scale and network capabilities, enhancing its long-term competitive position.",
    "output": "[Cause] the new entity to have a materially improved business profile with greater scale and network capabilities [Relation] enable [Effect] enhancing its long-term competitive position",
    "gold": "[Cause] the new entity to have a materially improved business profile with greater scale and network capabilities [Relation] cause [Effect] enhancing its long-term competitive position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project that total sales growth averages 4%-5% post-COVID-19 (2022 and beyond), supported by 4% retail sales growth, about 5% average e-commerce growth, and global (franchise) and emerging brand expansion.",
    "output": "[Cause] global (franchise) and emerging brand expansion [Relation] enable [Effect] total sales growth averages 4%-5% post-COVID-19 (2022 and beyond)",
    "gold": "[Cause] 4% retail sales growth, about 5% average e-commerce growth [Relation] cause [Effect] global (franchise) and emerging brand expansion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Overall, we forecast double-digit wireless revenue growth to make up for no growth in wireline, which we think will be pressured by Telus' improved network.",
    "output": "[Cause] Telus' improved network [Relation] cause [Effect] double-digit wireless revenue growth to make up for no growth in wireline",
    "gold": "[Cause] no growth in wireline [Relation] cause [Effect] we forecast double-digit wireless revenue growth to make up",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In contrast, explicit FERC approval is not required to construct an oil pipeline under the Interstate Commerce Act, but this does let the FERC regulate rates, which means it acts as a mediator for disputes.",
    "output": "[Cause] explicit FERC approval is not required to construct an oil pipeline under the Interstate Commerce Act [Relation] enable [Effect] let the FERC regulate rates",
    "gold": "[Cause]  explicit FERC approval is not required to construct an oil pipeline under the Interstate Commerce Act [Relation] cause [Effect]  let the FERC regulate rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to the strong fourth-quarter showing and likelihood that demand strength persists into first-half 2021, we raised our near-term revenue and margin forecasts.",
    "output": "[Cause] the strong fourth-quarter showing and likelihood that demand strength persists into first-half 2021 [Relation] cause [Effect] we raised our near-term revenue and margin forecasts",
    "gold": "[Cause]  the strong fourth-quarter showing and likelihood that demand strength persists into first-half 2021 [Relation] cause [Effect] we raised our near-term revenue and margin forecasts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Biotech and pharmaceutical companies are also encouraging regulatory agencies to continue building out a framework for evaluating real-world evidence for the use in regulatory decisions.",
    "output": "[Cause] Biotech and pharmaceutical companies are also encouraging regulatory agencies to continue building out a framework for evaluating real-world evidence for the use in regulatory decisions [Relation] enable [Effect] Biotech and pharmaceutical companies are also encouraging regulatory agencies",
    "gold": "[Cause] Biotech and pharmaceutical companies are also encouraging regulatory agencies to continue building out a framework for evaluating real-world evidence [Relation] enable [Effect] use in regulatory decisions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The risk from carbon emissions is most likely to materialize through a carbon tax that increases the price of end products to consumers, reducing demand over time and threatening Eni's core business.",
    "output": "[Cause] a carbon tax that increases the price of end products to consumers [Relation] cause [Effect] The risk from carbon emissions is most likely to materialize",
    "gold": "[Cause] The risk from carbon emissions is most likely to materialize through a carbon tax [Relation] cause [Effect] increases the price of end products to consumers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Management usually seeks to avoid large-scale acquisitions, and as the company has already assembled enough premium inventory to keep it busy for at least 10 years, there's no need to extend the portfolio.",
    "output": "[Cause] the company has already assembled enough premium inventory to keep it busy for at least 10 years [Relation] cause [Effect] there's no need to extend the portfolio",
    "gold": "[Cause] the company has already assembled enough premium inventory to keep it busy for at least 10 years [Relation] cause [Effect] there's no need to extend the portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the ratio will steadily climbing to 5.2% over the next 10 years due to a higher mix of independent restaurant business.",
    "output": "[Cause] a higher mix of independent restaurant business [Relation] cause [Effect] the ratio will steadily climbing to 5.2% over the next 10 years",
    "gold": "[Cause]  a higher mix of independent restaurant business [Relation] cause [Effect]  the ratio will steadily climbing to 5.2% over the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "TE's products pave the way for greater electrification and connectivity in vehicles, planes, and factories, which allows the firm to occupy a greater portion of these end products' electrical architectures.",
    "output": "[Cause] TE's products pave the way for greater electrification and connectivity in vehicles, planes, and factories [Relation] enable [Effect] the firm to occupy a greater portion of these end products' electrical architectures",
    "gold": "[Cause] TE's products pave the way for greater electrification and connectivity in vehicles, planes, and factories [Relation] enable [Effect] the firm to occupy a greater portion of these end products' electrical architectures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see this advantaged further supported by our view that the company will reinvest proceeds from the planned 2021 $6.25 billion sale of its Vegas assets into its Asian assets, strengthening the brand locally.",
    "output": "[Cause] the company will reinvest proceeds from the planned 2021 $6.25 billion sale of its Vegas assets into its Asian assets [Relation] enable [Effect] strengthening the brand locally",
    "gold": "[Cause] the company will reinvest proceeds from the planned 2021 $6.25 billion sale of its Vegas assets into its Asian assets [Relation] cause [Effect] strengthening the brand locally",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As commercial customers depend on quickly sourcing necessary parts in order to turn over service bays, a leading availability infrastructure like that of AutoZone is of tremendous value and enhances the firm's brand by creating added differentiation against regional and independent peers.",
    "output": "[Cause] commercial customers depend on quickly sourcing necessary parts in order to turn over service bays [Relation] cause [Effect] a leading availability infrastructure like that of AutoZone is of tremendous value and enhances the firm's brand by creating added differentiation against regional and independent peers",
    "gold": "[Cause] creating added differentiation against regional and independent peers [Relation] enable [Effect] a leading availability infrastructure like that of AutoZone is of tremendous value and enhances the firm's brand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In 2020, Tenneco successfully worked with creditors to amend financial covenants, which we believe gets the company through the uncertain operating environment.",
    "output": "[Cause] Tenneco successfully worked with creditors to amend financial covenants [Relation] enable [Effect] the company through the uncertain operating environment",
    "gold": "[Cause] Tenneco successfully worked with creditors to amend financial covenants [Relation] enable [Effect] the company through the uncertain operating environment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Kohl's has responded to such threats with increased e-commerce, improved merchandising, and an enhanced loyalty program, its operating margins steadily declined from the low double digits over the past 10 years, and we do not expect they will rise above the midsingle digits in the next 10.",
    "output": "[Cause] increased e-commerce, improved merchandising, and an enhanced loyalty program [Relation] enable [Effect] responded to such threats",
    "gold": "[Cause] increased e-commerce, improved merchandising, and an enhanced loyalty program [Relation] enable [Effect] responded to such threats",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Kohl's has responded to such threats with increased e-commerce, improved merchandising, and an enhanced loyalty program, its operating margins steadily declined from the low double digits over the past 10 years, and we do not expect they will rise above the midsingle digits in the next 10.",
    "output": "[Cause] its operating margins steadily declined from the low double digits over the past 10 years [Relation] cause [Effect] we do not expect they will rise above the midsingle digits in the next 10",
    "gold": "[Cause] its operating margins steadily declined from the low double digits over the past 10 years [Relation] cause [Effect] we do not expect they will rise above the midsingle digits in the next 10",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the production animal side, rising standards of living in emerging markets should lead to wider adoption of meat-heavy diets, driving greater demand for livestock products.",
    "output": "[Cause] rising standards of living in emerging markets [Relation] cause [Effect] wider adoption of meat-heavy diets, driving greater demand for livestock products",
    "gold": "[Cause]  rising standards of living in emerging markets [Relation] cause [Effect] wider adoption of meat-heavy diets, driving greater demand for livestock products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since Cogent does not own or have to maintain the fiber in its network, capital spending consists primarily of equipment and lease payments.",
    "output": "[Cause] Cogent does not own or have to maintain the fiber in its network [Relation] cause [Effect] capital spending consists primarily of equipment and lease payments",
    "gold": "[Cause] Cogent does not own or have to maintain the fiber in its network [Relation] cause [Effect] capital spending consists primarily of equipment and lease payments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Following significant core sales declines across all four segments in 2020 due to the COVID-19 pandemic, we forecast an average annual organic revenue growth rate for the firm of approximately 6.5% through 2025.",
    "output": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] Following significant core sales declines across all four segments in 2020",
    "gold": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] Following significant core sales declines across all four segments in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Another risk, in our opinion, is a slowdown in the real estate market, which could be indicated by increased home inventories for sale or slower growth in new- or used-home prices, influencing the wealth effect on consumers, and cause them to spend less on replacing goods in their homes.",
    "output": "[Cause] Another risk, in our opinion, is a slowdown in the real estate market [Relation] cause [Effect] influencing the wealth effect on consumers",
    "gold": "[Cause] increased home inventories for sale or slower growth in new- or used-home prices [Relation] cause [Effect] Another risk, in our opinion, is a slowdown in the real estate market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Another risk, in our opinion, is a slowdown in the real estate market, which could be indicated by increased home inventories for sale or slower growth in new- or used-home prices, influencing the wealth effect on consumers, and cause them to spend less on replacing goods in their homes.",
    "output": "[Cause] influencing the wealth effect on consumers [Relation] cause [Effect] them to spend less on replacing goods in their homes",
    "gold": "[Cause] Another risk, in our opinion, is a slowdown in the real estate market [Relation] cause [Effect]  influencing the wealth effect on consumers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Another risk, in our opinion, is a slowdown in the real estate market, which could be indicated by increased home inventories for sale or slower growth in new- or used-home prices, influencing the wealth effect on consumers, and cause them to spend less on replacing goods in their homes.",
    "output": "[Cause] increased home inventories for sale or slower growth in new- or used-home prices [Relation] cause [Effect] influencing the wealth effect on consumers",
    "gold": "[Cause]  influencing the wealth effect on consumers [Relation] cause [Effect]  them to spend less on replacing goods in their homes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, the capacity crunch dissipated and TL rates corrected sharply in 2019, driving down intermodal's value proposition relative to trucking.",
    "output": "[Cause] the capacity crunch dissipated and TL rates corrected sharply in 2019 [Relation] cause [Effect] driving down intermodal's value proposition relative to trucking",
    "gold": "[Cause]  the capacity crunch dissipated and TL rates corrected sharply in 2019 [Relation] cause [Effect] driving down intermodal's value proposition relative to trucking",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As potential competitors license a Corteva technology instead of developing their own, they are more likely to spend R&amp;D toward enhancing the base technology rather than invest in products that could usurp market share from Corteva's seeds.",
    "output": "[Cause] potential competitors license a Corteva technology instead of developing their own [Relation] cause [Effect] they are more likely to spend R&amp;D toward enhancing the base technology rather than invest in products that could usurp market share from Corteva's seeds",
    "gold": "[Cause] potential competitors license a Corteva technology instead of developing their own [Relation] cause [Effect] they are more likely to spend R&amp;D toward enhancing the base technology rather than invest in products that could usurp market share from Corteva's seeds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As with all regulated utilities, NextEra faces the risk of an inflationary environment that would raise borrowing costs and make other investments more attractive for income-seeking investors.",
    "output": "[Cause] NextEra faces the risk of an inflationary environment [Relation] cause [Effect] raise borrowing costs and make other investments more attractive for income-seeking investors",
    "gold": "[Cause] NextEra faces the risk of an inflationary environment [Relation] enable [Effect]  raise borrowing costs and make other investments more attractive for income-seeking investors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Intuitive is responding to this threat by expanding its platform roster to include lower-cost alternatives, offering operating leases to soften the high price sticker impact, and lowering the instrument cost to make them more comparable with manual laparascopy.",
    "output": "[Cause] offering operating leases [Relation] enable [Effect] soften the high price sticker impact",
    "gold": "[Cause] expanding its platform roster [Relation] enable [Effect]  lower-cost alternatives",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Intuitive is responding to this threat by expanding its platform roster to include lower-cost alternatives, offering operating leases to soften the high price sticker impact, and lowering the instrument cost to make them more comparable with manual laparascopy.",
    "output": "[Cause] offering operating leases [Relation] enable [Effect] soften the high price sticker impact",
    "gold": "[Cause] offering operating leases [Relation] enable [Effect] soften the high price sticker impact",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Intuitive is responding to this threat by expanding its platform roster to include lower-cost alternatives, offering operating leases to soften the high price sticker impact, and lowering the instrument cost to make them more comparable with manual laparascopy.",
    "output": "[Cause] offering operating leases [Relation] enable [Effect] soften the high price sticker impact",
    "gold": "[Cause]  lowering the instrument cost [Relation] enable [Effect] them more comparable with manual laparascopy",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A more cost-conscious consumer in emerging markets raises the risk that the disciplined pricing environment deployed throughout the world could deteriorate.",
    "output": "[Cause] A more cost-conscious consumer in emerging markets [Relation] cause [Effect] raises the risk that the disciplined pricing environment deployed throughout the world could deteriorate",
    "gold": "[Cause] A more cost-conscious consumer in emerging markets [Relation] enable [Effect] raises the risk that the disciplined pricing environment deployed throughout the world could deteriorate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Other issues with existing data architectures include their speed in querying large data sets, which can be problematic as the public cloud lends itself to larger and larger data sets (because storing data becomes much more effortless in the public cloud).",
    "output": "[Cause] the public cloud lends itself to larger and larger data sets (because storing data becomes much more effortless in the public cloud) [Relation] cause [Effect] Other issues with existing data architectures include their speed in querying large data sets",
    "gold": "[Cause] Other issues with existing data architectures include their speed in querying large data sets [Relation] enable [Effect] can be problematic as the public cloud lends itself to larger and larger data sets (because storing data becomes much more effortless in the public cloud)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "TE's products are also designed to operate in harsh conditions that make avoiding failure all the more difficult; automobiles and commercial vehicles must operate flawlessly in heat, cold, rain, snow, vibration, and in the face of electromagnetic interference. Thus, in the eyes of an OEM, trust and reliability in their suppliers are of greater value than the potential incremental cost savings of switching to a lower-cost supplier.",
    "output": "[Cause] TE's products are also designed to operate in harsh conditions that make avoiding failure all the more difficult; automobiles and commercial vehicles must operate flawlessly in heat, cold, rain, snow, vibration, and in the face of electromagnetic interference [Relation] cause [Effect] in the eyes of an OEM, trust and reliability in their suppliers are of greater value than the potential incremental cost savings of switching to a lower-cost supplier",
    "gold": "[Cause] TE's products are also designed to operate in harsh conditions that make avoiding failure all the more difficult; automobiles and commercial vehicles must operate flawlessly in heat, cold, rain, snow, vibration, and in the face of electromagnetic interference [Relation] cause [Effect] in the eyes of an OEM, trust and reliability in their suppliers are of greater value than the potential incremental cost savings of switching to a lower-cost supplier",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A first-mover advantage from being in the simulation space for 50 years has contributed to Ansys' best-of-breed status, in our view.",
    "output": "[Cause] A first-mover advantage from being in the simulation space for 50 years [Relation] enable [Effect] Ansys' best-of-breed status",
    "gold": "[Cause] A first-mover advantage from being in the simulation space for 50 years [Relation] enable [Effect]  Ansys' best-of-breed status",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the firm will have to invest heavily in research and development to maintain a competitive advantage in its touch, display, and fingerprint technologies across end markets as well as develop its acquired capabilities for video and audio if it aims to be successful. Consequently, we expect a long-term research and development spending rate as a percentage of sales in the low 20s implying a long-term operating margin near 14% as we reach midcycle.",
    "output": "[Cause] the firm will have to invest heavily in research and development to maintain a competitive advantage in its touch, display, and fingerprint technologies across end markets as well as develop its acquired capabilities for video and audio if it aims to be successful [Relation] cause [Effect] a long-term research and development spending rate as a percentage of sales in the low 20s implying a long-term operating margin near 14% as we reach midcycle",
    "gold": "[Cause]  the firm will have to invest heavily in research and development to maintain a competitive advantage in its touch, display, and fingerprint technologies across end markets as well as develop its acquired capabilities for video and audio if it aims to be successful [Relation] cause [Effect]  a long-term research and development spending rate as a percentage of sales in the low 20s implying a long-term operating margin near 14% as we reach midcycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume about 1.3% average selling price growth through 2030 due to Lennar's continued mix shift to lower-priced entry-level homes.",
    "output": "[Cause] Lennar's continued mix shift to lower-priced entry-level homes [Relation] cause [Effect] We assume about 1.3% average selling price growth through 2030",
    "gold": "[Cause]  Lennar's continued mix shift to lower-priced entry-level homes [Relation] cause [Effect] We assume about 1.3% average selling price growth through 2030",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Many customers bring their vehicle to the dealer for servicing, either because the vehicle is under warranty or the dealer is close to home and has the factory parts and expertise to service the vehicle.",
    "output": "[Cause] the vehicle is under warranty or the dealer is close to home and has the factory parts and expertise to service the vehicle [Relation] cause [Effect] Many customers bring their vehicle to the dealer for servicing",
    "gold": "[Cause]  the vehicle is under warranty or the dealer is close to home and has the factory parts and expertise to service the vehicle [Relation] cause [Effect] Many customers bring their vehicle to the dealer for servicing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Alcon's leading position in phacoemulsification, with an approximate 50% market share, helps pull in demand for standard intraocular lenses from bundling.",
    "output": "[Cause] Alcon's leading position in phacoemulsification, with an approximate 50% market share [Relation] enable [Effect] pull in demand for standard intraocular lenses from bundling",
    "gold": "[Cause] Alcon's leading position in phacoemulsification, with an approximate 50% market share [Relation] enable [Effect] pull in demand for standard intraocular lenses from bundling",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company values a strong balance sheet to provide some stability through the inevitable cycles and derives some modest benefit from commodity and geographic diversification, relative to its mining peers.",
    "output": "[Cause] The company values a strong balance sheet [Relation] enable [Effect] provide some stability through the inevitable cycles and derives some modest benefit from commodity and geographic diversification, relative to its mining peers",
    "gold": "[Cause]  the inevitable cycles and derives some modest benefit from commodity and geographic diversification, relative to its mining peers [Relation] cause [Effect] The company values a strong balance sheet to provide some stability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "More recently, Pennsylvania and Maryland approved slots in 2004 and 2008, respectively, followed by these states then allowing gaming tables in 2010 and 2012, respectively, which increases competition for Caesars' properties located in and around those two states.",
    "output": "[Cause] Pennsylvania and Maryland approved slots in 2004 and 2008, respectively, followed by these states then allowing gaming tables in 2010 and 2012, respectively [Relation] cause [Effect] increases competition for Caesars' properties located in and around those two states",
    "gold": "[Cause] Pennsylvania and Maryland approved slots in 2004 and 2008, respectively, followed by these states then allowing gaming tables in 2010 and 2012, respectively [Relation] cause [Effect] increases competition for Caesars' properties located in and around those two states",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Narrower discounts for  inland crude have reduced opportunities on the East and West Coast to transport discount light crude to its refineries via rail and barge to back out more expensive foreign imports.",
    "output": "[Cause] reduced opportunities on the East and West Coast to transport discount light crude to its refineries via rail and barge [Relation] enable [Effect] back out more expensive foreign imports",
    "gold": "[Cause] reduced opportunities on the East and West Coast to transport discount light crude to its refineries via rail and barge [Relation] cause [Effect] back out more expensive foreign imports",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This also represented a permanent downward shift in the cost curve as well and lead to the revision of our mid-cycle price to $60/bbl.",
    "output": "[Cause] a permanent downward shift in the cost curve [Relation] cause [Effect] the revision of our mid-cycle price to $60/bbl",
    "gold": "[Cause] a permanent downward shift in the cost curve [Relation] cause [Effect] the revision of our mid-cycle price to $60/bbl",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Licensing historical content to online players like Netflix and other video-on-demand providers could have long-term negative implications for ViacomCBS' audience ratings.",
    "output": "[Cause] Licensing historical content to online players like Netflix and other video-on-demand providers [Relation] cause [Effect] long-term negative implications for ViacomCBS' audience ratings",
    "gold": "[Cause] Licensing historical content to online players like Netflix and other video-on-demand providers [Relation] cause [Effect] long-term negative implications for ViacomCBS' audience ratings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Dollar Tree's namesake banner has a long history of strong performance, enabled by its differentiated value proposition, but, before the pandemic, its Family Dollar unit (acquired in 2015) struggled to generate top-line and margin growth.",
    "output": "[Cause] its differentiated value proposition [Relation] enable [Effect] Dollar Tree's namesake banner has a long history of strong performance",
    "gold": "[Cause]  its differentiated value proposition [Relation] enable [Effect] Dollar Tree's namesake banner has a long history of strong performance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As consumer preference began to shift to online and electronic purchasing platforms, Grainger invested heavily in improving its e-commerce capabilities and restructuring its distribution network.",
    "output": "[Cause] consumer preference began to shift to online and electronic purchasing platforms [Relation] cause [Effect] Grainger invested heavily in improving its e-commerce capabilities and restructuring its distribution network",
    "gold": "[Cause] consumer preference began to shift to online and electronic purchasing platforms [Relation] cause [Effect] Grainger invested heavily in improving its e-commerce capabilities and restructuring its distribution network",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, the findings of the antigraft probe in the past have shaken up PetroChina's senior management team while the ongoing low-carbon trends could eventually lower demand for oil and gas.",
    "output": "[Cause] the findings of the antigraft probe in the past [Relation] cause [Effect] shaken up PetroChina's senior management team",
    "gold": "[Cause]  the findings of the antigraft probe in the past [Relation] cause [Effect] shaken up PetroChina's senior management team",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The French retail banking market suffers from competition issues, given the presence of mutual owned banks with a limited profit motive.",
    "output": "[Cause] the presence of mutual owned banks with a limited profit motive [Relation] cause [Effect] The French retail banking market suffers from competition issues",
    "gold": "[Cause] the presence of mutual owned banks with a limited profit motive [Relation] prevent [Effect] The French retail banking market suffers from competition issues",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If interest rates increase faster than expected, DCP units could underperform, as a steepening yield curve increases expected distribution yield for competing assets.",
    "output": "[Cause] interest rates increase faster than expected [Relation] cause [Effect] DCP units could underperform",
    "gold": "[Cause]  interest rates increase faster than expected [Relation] cause [Effect] DCP units could underperform",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If interest rates increase faster than expected, DCP units could underperform, as a steepening yield curve increases expected distribution yield for competing assets.",
    "output": "[Cause] a steepening yield curve increases expected distribution yield for competing assets [Relation] cause [Effect] DCP units could underperform",
    "gold": "[Cause] a steepening yield curve [Relation] cause [Effect] increases expected distribution yield for competing assets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Recognizing that its legacy cereal business was facing secular declines, the company diversified its product offerings by acquiring businesses with on-trend fare, such as refrigerated foods and active nutrition.",
    "output": "[Cause] Recognizing that its legacy cereal business was facing secular declines [Relation] cause [Effect] the company diversified its product offerings by acquiring businesses with on-trend fare, such as refrigerated foods and active nutrition",
    "gold": "[Cause] acquiring businesses with on-trend fare, such as refrigerated foods and active nutrition [Relation] enable [Effect] the company diversified its product offerings",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This could put pressure on margins--operating margins have historically been more than 10 percentage points lower in this segment than in the biopharmaceuticals segment because of low pricing and high manufacturing and selling costs.",
    "output": "[Cause] low pricing and high manufacturing and selling costs [Relation] cause [Effect] operating margins have historically been more than 10 percentage points lower in this segment than in the biopharmaceuticals segment",
    "gold": "[Cause] low pricing and high manufacturing and selling costs [Relation] cause [Effect] operating margins have historically been more than 10 percentage points lower in this segment than in the biopharmaceuticals segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This could put pressure on margins--operating margins have historically been more than 10 percentage points lower in this segment than in the biopharmaceuticals segment because of low pricing and high manufacturing and selling costs.",
    "output": "[Cause] operating margins have historically been more than 10 percentage points lower in this segment than in the biopharmaceuticals segment [Relation] cause [Effect] put pressure on margins",
    "gold": "[Cause] operating margins have historically been more than 10 percentage points lower in this segment than in the biopharmaceuticals segment [Relation] cause [Effect] put pressure on margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because the company is acquisitive, a sizable goodwill balance has built up and weighs on ROICs, which tend to be in the low to midteens, or mid-20% on an adjusted basis.",
    "output": "[Cause] the company is acquisitive [Relation] cause [Effect] a sizable goodwill balance has built up and weighs on ROICs",
    "gold": "[Cause] the company is acquisitive [Relation] enable [Effect] a sizable goodwill balance has built up and weighs on ROICs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The improved yield over a two-year period justified not only the analytic installation, but also the entire upgrade of the equipment, and avoided the capital expense of an additional piece of equipment on top of the cost of the upgrades.",
    "output": "[Cause] The improved yield over a two-year period [Relation] enable [Effect] justified not only the analytic installation, but also the entire upgrade of the equipment",
    "gold": "[Cause] analytic installation [Relation] enable [Effect] The improved yield over a two-year period",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Pepsi's growth trajectory is not without risk, as the company faces secular headwinds such as normative shifts in consumer behavior.",
    "output": "[Cause] the company faces secular headwinds such as normative shifts in consumer behavior [Relation] cause [Effect] Pepsi's growth trajectory is not without risk",
    "gold": "[Cause] the company faces secular headwinds such as normative shifts in consumer behavior [Relation] cause [Effect] Pepsi's growth trajectory is not without risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "One can point to many historical examples, such as Coca-Cola Femsa's business in Venezuela, where rampant inflation combined with an unstable government as well as counterproductive currency controls caused irreparable degradation in the company's operations.",
    "output": "[Cause] rampant inflation combined with an unstable government as well as counterproductive currency controls [Relation] cause [Effect] irreparable degradation in the company's operations",
    "gold": "[Cause] rampant inflation combined with an unstable government as well as counterproductive currency controls [Relation] cause [Effect] irreparable degradation in the company's operations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Under Brazilian President Dilma Rousseff, the state-owned banks began to grow aggressively and were funding social programs that would benefit her re-election effort.",
    "output": "[Cause] the state-owned banks began to grow aggressively [Relation] enable [Effect] benefit her re-election effort",
    "gold": "[Cause] Under Brazilian President Dilma Rousseff [Relation] cause [Effect] the state-owned banks began to grow aggressively and were funding social programs that would benefit her re-election effort",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company's franchises have a dedicated user base, providing EA with the leverage to push more of its content via direct digital channels thus bypassing retailers, generating higher gross margins, and improving returns on invested capital.",
    "output": "[Cause] push more of its content via direct digital channels [Relation] enable [Effect] bypassing retailers, generating higher gross margins, and improving returns on invested capital",
    "gold": "[Cause]  push more of its content via direct digital channels [Relation] cause [Effect] bypassing retailers, generating higher gross margins, and improving returns on invested capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "PTC operates in the high-end computer-assisted design software market, but we view this market as mature and don't foresee significant top-line growth in this area.",
    "output": "[Cause] PTC operates in the high-end computer-assisted design software market [Relation] cause [Effect] we view this market as mature and don't foresee significant top-line growth in this area",
    "gold": "[Cause] this market as mature [Relation] cause [Effect] don't foresee significant top-line growth in this area",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, the nascent penetration of emerging and mobile markets would probably offer some cushion to a weaker economic growth environment.",
    "output": "[Cause] the nascent penetration of emerging and mobile markets [Relation] enable [Effect] offer some cushion to a weaker economic growth environment",
    "gold": "[Cause] the nascent penetration of emerging and mobile markets [Relation] enable [Effect]  offer some cushion to a weaker economic growth environment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's comprehensive data set of de-identified patient records and script data enhances its ability to attract and retain healthcare customers throughout the life cycle of a drug.",
    "output": "[Cause] The company's comprehensive data set of de-identified patient records and script data [Relation] enable [Effect] enhances its ability to attract and retain healthcare customers throughout the life cycle of a drug",
    "gold": "[Cause] The company's comprehensive data set of de-identified patient records and script data [Relation] cause [Effect] enhances its ability to attract and retain healthcare customers throughout the life cycle of a drug",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The unsettled economy continues to strain discretionary income (though economic stimulus is an offset) and customer hesitance to shop in-store is likely hindering sales to an extent.",
    "output": "[Cause] The unsettled economy [Relation] cause [Effect] strain discretionary income",
    "gold": "[Cause] The unsettled economy [Relation] cause [Effect] strain discretionary income",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The software segment is anticipated to also grow 5% with potential to expand as the company develops new services (both organic and through acquisitions) to cross-sell into its payer and provider base to supplement current offerings.",
    "output": "[Cause] the company develops new services (both organic and through acquisitions) to cross-sell into its payer and provider base to supplement current offerings [Relation] cause [Effect] The software segment is anticipated to also grow 5% with potential to expand",
    "gold": "[Cause] the company develops new services (both organic and through acquisitions) to cross-sell into its payer and provider base to supplement current offerings [Relation] cause [Effect] The software segment is anticipated to also grow 5% with potential to expand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, in 2021, Beyond has plans to launch a new burger that is lower in saturated fat, which should improve this comparison.",
    "output": "[Cause] Beyond has plans to launch a new burger that is lower in saturated fat [Relation] enable [Effect] improve this comparison",
    "gold": "[Cause] Beyond has plans to launch a new burger that is lower in saturated fat [Relation] cause [Effect]  improve this comparison",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect management will need to continue to cross-sell its bundled offering to maintain gross margins with increasing competition from dental service organizations and online competitors.",
    "output": "[Cause] increasing competition from dental service organizations and online competitors [Relation] cause [Effect] management will need to continue to cross-sell its bundled offering",
    "gold": "[Cause]  increasing competition from dental service organizations and online competitors [Relation] cause [Effect] management will need to continue to cross-sell its bundled offering | maintain gross margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect management will need to continue to cross-sell its bundled offering to maintain gross margins with increasing competition from dental service organizations and online competitors.",
    "output": "[Cause] increasing competition from dental service organizations and online competitors [Relation] cause [Effect] management will need to continue to cross-sell its bundled offering",
    "gold": "[Cause] management will need to continue to cross-sell its bundled offering [Relation] cause [Effect] maintain gross margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm has announced that it is exploring a potential asset management joint venture in China, which would further expand the reach of its investment portfolio.",
    "output": "[Cause] The firm has announced that it is exploring a potential asset management joint venture in China [Relation] enable [Effect] expand the reach of its investment portfolio",
    "gold": "[Cause] The firm has announced that it is exploring a potential asset management joint venture in China [Relation] cause [Effect] expand the reach of its investment portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fastenal uses its reputation with suppliers and its scale to expand its vendor base and product selection, take advantage of sales incentives and volume rebates, and gain preferential access to supplier resources and support, which in turn allows Fastenal to offer its customers better product selection, pricing, and services.",
    "output": "[Cause] Fastenal uses its reputation with suppliers and its scale to expand its vendor base and product selection, take advantage of sales incentives and volume rebates, and gain preferential access to supplier resources and support [Relation] enable [Effect] Fastenal to offer its customers better product selection, pricing, and services",
    "gold": "[Cause] Fastenal uses its reputation with suppliers and its scale to expand its vendor base and product selection, take advantage of sales incentives and volume rebates, and gain preferential access to supplier resources and support [Relation] enable [Effect] Fastenal to offer its customers better product selection, pricing, and services",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Longer term (between fiscal 2023 and 2025), we expect average organic top-line growth of 4.5%-5.0% on e-commerce tailwinds and rational rate increases.",
    "output": "[Cause] e-commerce tailwinds and rational rate increases [Relation] cause [Effect] average organic top-line growth of 4.5%-5.0%",
    "gold": "[Cause] between fiscal 2023 and 2025 [Relation] enable [Effect] we expect average organic top-line growth of 4.5%-5.0% on e-commerce tailwinds and rational rate increases.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The combination with Omega makes Perrigo one of the largest branded OTC players in Europe behind Novartis, Sanofi, Bayer, and Reckitt Benckiser.",
    "output": "[Cause] The combination with Omega [Relation] enable [Effect] Perrigo one of the largest branded OTC players in Europe behind Novartis, Sanofi, Bayer, and Reckitt Benckiser",
    "gold": "[Cause] The combination with Omega [Relation] enable [Effect] Perrigo one of the largest branded OTC players in Europe behind Novartis, Sanofi, Bayer, and Reckitt Benckiser",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, since 2008, we estimate that outsourcing has increased from 25% penetration to about 60%, so the biopharma industry is now more reliant on CROs for preclinical work, and Charles River leads with a top market share.",
    "output": "[Cause] outsourcing has increased from 25% penetration to about 60% [Relation] cause [Effect] the biopharma industry is now more reliant on CROs for preclinical work, and Charles River leads with a top market share",
    "gold": "[Cause]  the biopharma industry is now more reliant on CROs for preclinical work [Relation] enable [Effect] Charles River leads with a top market share",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Ultimately, we see a tough road ahead but believe the company can sustain low-single-digit growth longer term, especially as the benefits of management's revitalization plan are less masked by pandemic-induced disruption.",
    "output": "[Cause] the benefits of management's revitalization plan are less masked by pandemic-induced disruption [Relation] cause [Effect] the company can sustain low-single-digit growth longer term",
    "gold": "[Cause]  the benefits of management's revitalization plan are less masked by pandemic-induced disruption [Relation] enable [Effect] the company can sustain low-single-digit growth longer term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Aphria revised plans to build production in Colombia due to high capital costs, instead exporting global medical markets from its Canadian facilities.",
    "output": "[Cause] high capital costs [Relation] cause [Effect] Aphria revised plans to build production in Colombia",
    "gold": "[Cause] high capital costs [Relation] cause [Effect] Aphria revised plans to build production in Colombia",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "When the company pursued its acquisition of LoopNet for $860 million in 2011, federal regulators scrutinized it due to antitrust concerns.",
    "output": "[Cause] antitrust concerns [Relation] cause [Effect] federal regulators scrutinized it",
    "gold": "[Cause] antitrust concerns [Relation] cause [Effect] federal regulators scrutinized it",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management has been focused on leveraging scale to foster strategic partnerships to increase traffic and cross selling opportunities with a long term focus to improve coordinated care.",
    "output": "[Cause] Management has been focused on leveraging scale to foster strategic partnerships [Relation] enable [Effect] increase traffic and cross selling opportunities with a long term focus to improve coordinated care",
    "gold": "[Cause] to increase traffic and cross selling opportunities [Relation] cause [Effect] Management has been focused on leveraging scale to foster strategic partnerships  | with a long term focus to improve coordinated care",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Aside from reducing the cost of maintenance, predictive maintenance tools translate to increased uptime, increased throughput, improved product quality through optimization, and reduced waste and rework.",
    "output": "[Cause] predictive maintenance tools [Relation] enable [Effect] increased uptime, increased throughput, improved product quality through optimization, and reduced waste and rework",
    "gold": "[Cause] predictive maintenance tools [Relation] enable [Effect]  increased uptime, increased throughput, improved product quality through optimization, and reduced waste and rework",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This regulation sets the rates American Water can charge customers. Consequently, the greatest risk it faces is regulation that does not allow the company to recover operating expenses and a return on invested capital.",
    "output": "[Cause] This regulation sets the rates American Water can charge customers [Relation] cause [Effect] the greatest risk it faces is regulation that does not allow the company to recover operating expenses and a return on invested capital",
    "gold": "[Cause] This regulation sets the rates American Water can charge customers [Relation] cause [Effect] the greatest risk it faces is regulation that does not allow the company to recover operating expenses and a return on invested capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ansys' network effect stems from its strong presence in engineering programs, which reinforces the company's dominance in enterprises, in our view.",
    "output": "[Cause] strong presence in engineering programs [Relation] cause [Effect] reinforces the company's dominance in enterprises",
    "gold": "[Cause] strong presence in engineering programs [Relation] enable [Effect]  reinforces the company's dominance in enterprises",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the near term, we think demand for corn and soybeans will be strong, largely due to robust demand from China and tight global supply.",
    "output": "[Cause] robust demand from China and tight global supply [Relation] cause [Effect] demand for corn and soybeans will be strong",
    "gold": "[Cause] robust demand from China and tight global supply [Relation] cause [Effect] demand for corn and soybeans will be strong",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our assumptions include a challenging time early in our forecast period due to the COVID-19 crisis that is creating risks associated with policy pricing and the employment environment, which threatens commercial insurance rolls.",
    "output": "[Cause] the COVID-19 crisis that is creating risks associated with policy pricing and the employment environment [Relation] cause [Effect] threatens commercial insurance rolls",
    "gold": "[Cause] the COVID-19 crisis that is creating risks associated with policy pricing and the employment environment [Relation] cause [Effect] threatens commercial insurance rolls",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Roku players originally gained acclaim and recognition in part for being neutral in terms of content providers as a result of the firm not having any content tie-up.",
    "output": "[Cause] being neutral in terms of content providers [Relation] cause [Effect] Roku players originally gained acclaim and recognition",
    "gold": "[Cause] being neutral in terms of content providers [Relation] cause [Effect] Roku players originally gained acclaim and recognition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Roku players originally gained acclaim and recognition in part for being neutral in terms of content providers as a result of the firm not having any content tie-up.",
    "output": "[Cause] being neutral in terms of content providers [Relation] cause [Effect] Roku players originally gained acclaim and recognition",
    "gold": "[Cause] the firm not having any content tie-up [Relation] cause [Effect] Roku players originally gained acclaim and recognition in part for being neutral in terms of content providers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In aggregate, AT&amp;T is a collection of businesses that should produce double-digit ROICs, but high acquisition prices will likely leave ROICs roughly in line with the firm's cost of capital, as we calculate it, despite significant competitive advantages.",
    "output": "[Cause] high acquisition prices [Relation] cause [Effect] leave ROICs roughly in line with the firm's cost of capital",
    "gold": "[Cause] high acquisition prices [Relation] cause [Effect] leave ROICs roughly in line with the firm's cost of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Murphy has a number of expansion projects lined up there that should offset legacy declines and enable it to hold production flat in the next few years.",
    "output": "[Cause] Murphy has a number of expansion projects lined up there [Relation] enable [Effect] hold production flat in the next few years",
    "gold": "[Cause] Murphy has a number of expansion projects lined up there [Relation] enable [Effect] hold production flat in the next few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management advised that its unexpectedly high growth rate of 46% in 2017, stemming from hyperscale cloud demand, should taper off considerably.",
    "output": "[Cause] hyperscale cloud demand [Relation] cause [Effect] its unexpectedly high growth rate of 46% in 2017",
    "gold": "[Cause] stemming from hyperscale cloud demand [Relation] cause [Effect]  taper off considerably",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As long as PSEG continues to own and operate its merchant power generation fleet, energy market prices will be a key risk and source of uncertainty.",
    "output": "[Cause] PSEG continues to own and operate its merchant power generation fleet [Relation] cause [Effect] energy market prices will be a key risk and source of uncertainty",
    "gold": "[Cause] PSEG continues to own and operate its merchant power generation fleet [Relation] enable [Effect] energy market prices will be a key risk and source of uncertainty",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we expect ROICs to rise modestly again beginning in 2021 as leadership focuses back on the core consumer, helping extract excess economic profits.",
    "output": "[Cause] leadership focuses back on the core consumer [Relation] enable [Effect] extract excess economic profits",
    "gold": "[Cause] leadership focuses back on the core consumer [Relation] enable [Effect] extract excess economic profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we expect ROICs to rise modestly again beginning in 2021 as leadership focuses back on the core consumer, helping extract excess economic profits.",
    "output": "[Cause] leadership focuses back on the core consumer [Relation] enable [Effect] extract excess economic profits",
    "gold": "[Cause] leadership focuses back on the core consumer, helping extract excess economic profits [Relation] cause [Effect] ROICs to rise modestly again beginning in 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As Nice offers more new modules on its platform, it has the opportunity to cross-sell and upsell products to customers, which should drive higher incremental revenue.",
    "output": "[Cause] Nice offers more new modules on its platform [Relation] cause [Effect] it has the opportunity to cross-sell and upsell products to customers",
    "gold": "[Cause] Nice offers more new modules on its platform [Relation] cause [Effect] it has the opportunity to cross-sell and upsell products to customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Nice offers more new modules on its platform, it has the opportunity to cross-sell and upsell products to customers, which should drive higher incremental revenue.",
    "output": "[Cause] Nice offers more new modules on its platform [Relation] enable [Effect] it has the opportunity to cross-sell and upsell products to customers",
    "gold": "[Cause] it has the opportunity to cross-sell and upsell products to customers [Relation] cause [Effect] drive higher incremental revenue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Thanks to external (increased COVID-related demand, smartphone ubiquity, increased wealth creation, underdevelopment payment industry infrastructure) and company-specific factors (product mix diversification, on- and off-platform payment technologies and shipping solutions), we believe MercadoLibre can capitalize on accelerating digital commerce trends in Latin America, despite lingering macro constraints volatility.",
    "output": "[Cause] external (increased COVID-related demand, smartphone ubiquity, increased wealth creation, underdevelopment payment industry infrastructure) and company-specific factors (product mix diversification, on- and off-platform payment technologies and shipping solutions) [Relation] enable [Effect] MercadoLibre can capitalize on accelerating digital commerce trends in Latin America",
    "gold": "[Cause]  external (increased COVID-related demand, smartphone ubiquity, increased wealth creation, underdevelopment payment industry infrastructure) and company-specific factors (product mix diversification, on- and off-platform payment technologies and shipping solutions) [Relation] enable [Effect] MercadoLibre can capitalize on accelerating digital commerce trends in Latin America",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, Alliance Data Systems' small scale prevents it from submitting serious bids for large anchor clients as the receivable volumes these programs generate are too large for the company to reliably finance.",
    "output": "[Cause] the receivable volumes these programs generate are too large for the company to reliably finance [Relation] cause [Effect] Alliance Data Systems' small scale prevents it from submitting serious bids for large anchor clients",
    "gold": "[Cause] Alliance Data Systems' small scale [Relation] prevent [Effect] submitting serious bids for large anchor clients",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, Alliance Data Systems' small scale prevents it from submitting serious bids for large anchor clients as the receivable volumes these programs generate are too large for the company to reliably finance.",
    "output": "[Cause] the receivable volumes these programs generate are too large for the company to reliably finance [Relation] cause [Effect] Alliance Data Systems' small scale prevents it from submitting serious bids for large anchor clients",
    "gold": "[Cause] the receivable volumes these programs generate are too large [Relation] prevent [Effect] the company to reliably finance",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Following the Qunar deal in 2015, the company significantly strengthened its network effect with the consolidation of the online accommodation reservation and transportation ticketing market in China.",
    "output": "[Cause] the consolidation of the online accommodation reservation and transportation ticketing market in China [Relation] enable [Effect] the company significantly strengthened its network effect",
    "gold": "[Cause]  the consolidation of the online accommodation reservation and transportation ticketing market in China [Relation] enable [Effect] the company significantly strengthened its network effect",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thanks to a sharp rise in 5G penetration in 2021 and strong modem and RF front-end design wins, we assume fiscal 2021 sales grow 35% for Qualcomm.",
    "output": "[Cause] a sharp rise in 5G penetration in 2021 and strong modem and RF front-end design wins [Relation] cause [Effect] fiscal 2021 sales grow 35% for Qualcomm",
    "gold": "[Cause] a sharp rise in 5G penetration in 2021 and strong modem and RF front-end design wins [Relation] cause [Effect]  fiscal 2021 sales grow 35% for Qualcomm",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company has been able to take the largest slice of the human capital management pie thanks to its best-of-breed ERP ecosystem for on-premises workloads, in our view.",
    "output": "[Cause] its best-of-breed ERP ecosystem for on-premises workloads [Relation] enable [Effect] The company has been able to take the largest slice of the human capital management pie",
    "gold": "[Cause] its best-of-breed ERP ecosystem for on-premises workloads [Relation] enable [Effect] The company has been able to take the largest slice of the human capital management pie",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While penetration is still low and most shoppers still drive to the center to pick up groceries, the potential for increased grocery delivery could take away traffic from shopping centers.",
    "output": "[Cause] penetration is still low and most shoppers still drive to the center to pick up groceries [Relation] cause [Effect] the potential for increased grocery delivery could take away traffic from shopping centers",
    "gold": "[Cause]  penetration is still low and most shoppers still drive to the center to pick up groceries [Relation] cause [Effect]  the potential for increased grocery delivery could take away traffic from shopping centers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The vast majority of LPL's asset-based fees are derived from cash sweep revenue, which tends to increase in adverse market conditions as more investors increase their cash holdings.",
    "output": "[Cause] more investors increase their cash holdings [Relation] cause [Effect] increase in adverse market conditions",
    "gold": "[Cause] The vast majority of LPL's asset-based fees are derived from cash sweep revenue [Relation] enable [Effect] increase in adverse market conditions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The vast majority of LPL's asset-based fees are derived from cash sweep revenue, which tends to increase in adverse market conditions as more investors increase their cash holdings.",
    "output": "[Cause] more investors increase their cash holdings [Relation] cause [Effect] increase in adverse market conditions",
    "gold": "[Cause] more investors increase their cash holdings [Relation] cause [Effect] increase in adverse market conditions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect cost control efforts to continue with the potential to improve margins primarily through control of the SG&A line.",
    "output": "[Cause] control of the SG&A line [Relation] enable [Effect] improve margins",
    "gold": "[Cause] control of the SG&A line [Relation] enable [Effect]  improve margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Vertex's complete portfolio of cystic fibrosis therapies allows it to target about 90% of cystic fibrosis patients globally, assuming international and pediatric approvals.",
    "output": "[Cause] international and pediatric approvals [Relation] enable [Effect] Vertex's complete portfolio of cystic fibrosis therapies allows it to target about 90% of cystic fibrosis patients globally",
    "gold": "[Cause] international and pediatric approvals [Relation] enable [Effect] Vertex's complete portfolio of cystic fibrosis therapies allows it to target about 90% of cystic fibrosis patients globally",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In fact, in 2021, Sysco is launching sales teams that will specialize in Italian cuisine, which could threaten PFG's leadership in this segment.",
    "output": "[Cause] in 2021, Sysco is launching sales teams that will specialize in Italian cuisine [Relation] cause [Effect] threaten PFG's leadership in this segment",
    "gold": "[Cause] in 2021, Sysco is launching sales teams that will specialize in Italian cuisine [Relation] cause [Effect] threaten PFG's leadership in this segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, with impressive returns in the industry, Brazil's banks are increasingly a populist target to shoulder the country's economic burden.",
    "output": "[Cause] impressive returns in the industry [Relation] cause [Effect] Brazil's banks are increasingly a populist target to shoulder the country's economic burden",
    "gold": "[Cause] impressive returns in the industry [Relation] cause [Effect] Brazil's banks are increasingly a populist target to shoulder the country's economic burden",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "STMicro's revenue grew 7% in 2020; despite COVID-19-related headwinds earlier in the year, demand snapped back in the latter half of 2020, while ST also prospered from healthy demand for chips used in personal electronics.",
    "output": "[Cause] healthy demand for chips used in personal electronics [Relation] cause [Effect] ST also prospered",
    "gold": "[Cause] despite COVID-19-related headwinds earlier in the year, demand snapped back in the latter half of 2020, while ST also prospered from healthy demand for chips used in personal electronics [Relation] enable [Effect] STMicro's revenue grew 7% in 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If interest rates increase faster than expected, MPLX units could underperform, as a steepening yield curve increases expected distribution yield for competing assets.",
    "output": "[Cause] a steepening yield curve increases expected distribution yield for competing assets [Relation] cause [Effect] If interest rates increase faster than expected, MPLX units could underperform",
    "gold": "[Cause] a steepening yield curve increases expected distribution yield for competing assets [Relation] cause [Effect] If interest rates increase faster than expected, MPLX units could underperform",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a midteens percentage of GDP and nearly 10% of jobs coming from natural-resources-related sectors, any demand side shock or drastic declines in commodity prices could be large negatives.",
    "output": "[Cause] a midteens percentage of GDP and nearly 10% of jobs coming from natural-resources-related sectors [Relation] cause [Effect] any demand side shock or drastic declines in commodity prices could be large negatives",
    "gold": "[Cause] a midteens percentage of GDP and nearly 10% of jobs coming from natural-resources-related sectors [Relation] cause [Effect] any demand side shock or drastic declines in commodity prices could be large negatives",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The bank has a hedging program in place to help cushion the blow in a lower rate environment, but core net interest income will come under pressure for the time being.",
    "output": "[Cause] The bank has a hedging program in place [Relation] enable [Effect] cushion the blow in a lower rate environment",
    "gold": "[Cause] The bank has a hedging program in place [Relation] cause [Effect] core net interest income will come under pressure for the time being",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company regularly recycles capital by selling noncore assets or markets and uses the proceeds to fuel targeted acquisitions with strong growth prospects, a strategy that has improved the company's performance over the past few years.",
    "output": "[Cause] The company regularly recycles capital by selling noncore assets or markets and uses the proceeds to fuel targeted acquisitions with strong growth prospects [Relation] enable [Effect] improved the company's performance over the past few years",
    "gold": "[Cause] The company regularly recycles capital by selling noncore assets or markets and uses the proceeds to fuel targeted acquisitions with strong growth prospects [Relation] cause [Effect] improved the company's performance over the past few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the surge in retail-freight demand and capacity tightening throughout the fall months, along with management's success optimizing Swift-segment margins this year, we are materially lifting our revenue and margin assumptions for the years ahead.",
    "output": "[Cause] the surge in retail-freight demand and capacity tightening throughout the fall months, along with management's success optimizing Swift-segment margins this year [Relation] cause [Effect] we are materially lifting our revenue and margin assumptions for the years ahead",
    "gold": "[Cause]  the surge in retail-freight demand and capacity tightening throughout the fall months, along with management's success optimizing Swift-segment margins this year [Relation] cause [Effect] we are materially lifting our revenue and margin assumptions for the years ahead",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The emerging biotech does not have any commercialized medicines yet, but its early-stage pipeline and mRNA technology platforms have caught the eye of several large pharmaceutical companies, resulting in collaborations and partnerships.",
    "output": "[Cause] its early-stage pipeline and mRNA technology platforms have caught the eye of several large pharmaceutical companies [Relation] cause [Effect] collaborations and partnerships",
    "gold": "[Cause] its early-stage pipeline and mRNA technology platforms have caught the eye of several large pharmaceutical companies [Relation] enable [Effect] collaborations and partnerships",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This strategy mitigates emissions and demand risk but introduces other risks, most notably execution risk as Eni moves into businesses where it lacks deep experience, and its targets are very long-term.",
    "output": "[Cause] Eni moves into businesses where it lacks deep experience, and its targets are very long-term [Relation] cause [Effect] This strategy mitigates emissions and demand risk but introduces other risks, most notably execution risk",
    "gold": "[Cause] Eni moves into businesses where it lacks deep experience, and its targets are very long-term [Relation] cause [Effect] This strategy mitigates emissions and demand risk but introduces other risks, most notably execution risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that the benefit of high-margin retransmission revenue will be offset by increased reverse compensation demands from the national broadcasters. As a result, we project that the average operating margin will fall to 23%, below the current three-year historical average of 24%.",
    "output": "[Cause] the benefit of high-margin retransmission revenue will be offset by increased reverse compensation demands from the national broadcasters [Relation] cause [Effect] the average operating margin will fall to 23%, below the current three-year historical average of 24%",
    "gold": "[Cause]  the benefit of high-margin retransmission revenue will be offset by increased reverse compensation demands from the national broadcasters [Relation] cause [Effect]  the average operating margin will fall to 23%, below the current three-year historical average of 24%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assign ON Semiconductor a high fair value uncertainty rating, due in large part to its place in the cyclical semiconductor industry--specifically with its commoditylike discrete transistors.",
    "output": "[Cause] its place in the cyclical semiconductor industry--specifically with its commoditylike discrete transistors [Relation] cause [Effect] We assign ON Semiconductor a high fair value uncertainty rating",
    "gold": "[Cause] its place in the cyclical semiconductor industry--specifically with its commoditylike discrete transistors [Relation] cause [Effect] We assign ON Semiconductor a high fair value uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From our understanding, the hybrid landscape is currently controlled by a few players (including Rockwell, Emerson, Schneider, ABB, and Siemens), and we suspect that there is room for increased share gains from both through eventual consolidation.",
    "output": "[Cause] the hybrid landscape is currently controlled by a few players (including Rockwell, Emerson, Schneider, ABB, and Siemens) [Relation] cause [Effect] there is room for increased share gains from both through eventual consolidation",
    "gold": "[Cause] the hybrid landscape is currently controlled by a few players (including Rockwell, Emerson, Schneider, ABB, and Siemens) [Relation] cause [Effect] there is room for increased share gains from both through eventual consolidation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Other significant drivers include the use of single-use technology in biopharma applications, which we think will drive double-digit top-line growth through our explicit forecast.",
    "output": "[Cause] Other significant drivers include the use of single-use technology in biopharma applications [Relation] enable [Effect] drive double-digit top-line growth through our explicit forecast",
    "gold": "[Cause] Other significant drivers include the use of single-use technology in biopharma applications [Relation] cause [Effect] drive double-digit top-line growth through our explicit forecast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For instance, Dutch life insurers have rapidly been gaining market share in mortgages, this is however due to clients using the low interest rates to fix the interest they need to pay for longer and longer maturities.",
    "output": "[Cause] clients using the low interest rates to fix the interest they need to pay for longer and longer maturities [Relation] cause [Effect] Dutch life insurers have rapidly been gaining market share in mortgages",
    "gold": "[Cause]  clients using the low interest rates to fix the interest they need to pay for longer and longer maturities [Relation] cause [Effect] Dutch life insurers have rapidly been gaining market share in mortgages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's institutional securities business benefited from COVID-19 in 2020, as businesses raised capital to secure funding through the recession and trading volume increased.",
    "output": "[Cause] businesses raised capital to secure funding through the recession and trading volume increased [Relation] cause [Effect] The company's institutional securities business benefited from COVID-19 in 2020",
    "gold": "[Cause] businesses raised capital [Relation] enable [Effect] secure funding through the recession and trading volume increased",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, we think Amphenol will continue to benefit from higher dollar content enabling growth over relatively flat smartphone and notebook production in its mobile devices vertical.",
    "output": "[Cause] Amphenol will continue to benefit from higher dollar content [Relation] enable [Effect] growth over relatively flat smartphone and notebook production in its mobile devices vertical",
    "gold": "[Cause] Amphenol will continue to benefit from higher dollar content [Relation] enable [Effect] growth over relatively flat smartphone and notebook production in its mobile devices vertical",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company also has several successful digital retailers as partners, such as PayPal and Amazon, which will help offset the damage from Synchrony's partners in the brick-and-mortar retail space.",
    "output": "[Cause] The company also has several successful digital retailers as partners, such as PayPal and Amazon [Relation] enable [Effect] offset the damage from Synchrony's partners in the brick-and-mortar retail space",
    "gold": "[Cause] The company also has several successful digital retailers as partners, such as PayPal and Amazon [Relation] enable [Effect] offset the damage from Synchrony's partners in the brick-and-mortar retail space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These large patient databases, combined with the recruitment and consulting capabilities of CROs, offer a key service to biopharma clients that cannot be replicated in-house.",
    "output": "[Cause] These large patient databases, combined with the recruitment and consulting capabilities of CROs [Relation] enable [Effect] offer a key service to biopharma clients that cannot be replicated in-house",
    "gold": "[Cause] These large patient databases, combined with the recruitment and consulting capabilities of CROs [Relation] enable [Effect] offer a key service to biopharma clients that cannot be replicated in-house",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To widen the product spectrum and potentially cope with the trend of social e-commerce, Weibo launched an interest-based social product, Oasis, in fourth quarter 2019.",
    "output": "[Cause] Weibo launched an interest-based social product, Oasis [Relation] enable [Effect] widen the product spectrum and potentially cope with the trend of social e-commerce",
    "gold": "[Cause] To widen the product spectrum and potentially cope with the trend of social e-commerce [Relation] cause [Effect] Weibo launched an interest-based social product, Oasis, in fourth quarter 2019",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As a commodity manufacturer, Posco could improve on its competitiveness in the steel sector by obtaining sustainable access to low-cost raw materials such as iron ore and coking coal, as they account for more than half of its production costs.",
    "output": "[Cause] they account for more than half of its production costs [Relation] cause [Effect] Posco could improve on its competitiveness in the steel sector by obtaining sustainable access to low-cost raw materials such as iron ore and coking coal",
    "gold": "[Cause] they account for more than half of its production costs [Relation] cause [Effect] Posco could improve on its competitiveness in the steel sector by obtaining sustainable access to low-cost raw materials such as iron ore and coking coal",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, consolidation among JLL's competitors also represents a significant risk to the company, since it would change the competitive landscape in which it operates.",
    "output": "[Cause] it would change the competitive landscape in which it operates [Relation] cause [Effect] consolidation among JLL's competitors also represents a significant risk to the company",
    "gold": "[Cause] consolidation among JLL's competitors also represents a significant risk to the company [Relation] cause [Effect] it would change the competitive landscape in which it operates",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe that small to midsize enterprises cannot make the necessary investments in engineering knowledge, and that they are thus reliant on Arrow's capabilities.",
    "output": "[Cause] small to midsize enterprises cannot make the necessary investments in engineering knowledge [Relation] cause [Effect] they are thus reliant on Arrow's capabilities",
    "gold": "[Cause]  reliant on Arrow's capabilities [Relation] cause [Effect] We believe that small to midsize enterprises cannot make the necessary investments in engineering knowledge",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Costco also handles a significant amount of customer data, and a breach could expose it to financial and reputational risk.",
    "output": "[Cause] a breach [Relation] cause [Effect] expose it to financial and reputational risk",
    "gold": "[Cause] a breach [Relation] cause [Effect] expose it to financial and reputational risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company is also gradually becoming less and less sensitive to economic cycles, as more of its revenue is tied to the \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"lights on\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" activities of research laboratories rather than capital budgets.",
    "output": "[Cause] more of its revenue is tied to the \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"",
    "gold": "[Cause] more of its revenue is tied to the \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"lights on\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" activities of research laboratories rather than capital budgets [Relation] cause [Effect] The company is also gradually becoming less and less sensitive to economic cycles",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Robert Half's brand draws skilled candidates into the network, in turn, attracting top employers looking to hire for hard-to-fill jobs.",
    "output": "[Cause] Robert Half's brand draws skilled candidates into the network [Relation] enable [Effect] attracting top employers looking to hire for hard-to-fill jobs",
    "gold": "[Cause] Robert Half's brand draws skilled candidates into the network [Relation] enable [Effect] attracting top employers looking to hire for hard-to-fill jobs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect that Parker's international business can drive similar margins to its North American business with growing strength in distribution.",
    "output": "[Cause] Parker's international business [Relation] enable [Effect] similar margins to its North American business with growing strength in distribution",
    "gold": "[Cause] Parker's international business [Relation] enable [Effect] similar margins to its North American business with growing strength in distribution",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the highly discretionary nature of the product makes demand highly cyclical, so investors ought to consider the business cycle when investing in Textron.",
    "output": "[Cause] the highly discretionary nature of the product makes demand highly cyclical [Relation] cause [Effect] investors ought to consider the business cycle when investing in Textron",
    "gold": "[Cause] the highly discretionary nature of the product makes demand highly cyclical [Relation] cause [Effect] investors ought to consider the business cycle when investing in Textron",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In contrast, the server CPU market is considerably slower moving than its PC CPU counterpart, as customers must more rigorously qualify chips to ensure optimal performance and efficiency.",
    "output": "[Cause] customers must more rigorously qualify chips to ensure optimal performance and efficiency [Relation] cause [Effect] the server CPU market is considerably slower moving than its PC CPU counterpart",
    "gold": "[Cause] customers must more rigorously qualify chips to ensure optimal performance and efficiency [Relation] cause [Effect]  the server CPU market is considerably slower moving than its PC CPU counterpart",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Icon's acquisition of PRA Health Sciences, which is expected to close in third-quarter 2021, will create one of the largest CROs in the industry and further enhance its global footprint, creating a more diversified portfolio with broader service offerings.",
    "output": "[Cause] Icon's acquisition of PRA Health Sciences [Relation] enable [Effect] create one of the largest CROs in the industry and further enhance its global footprint, creating a more diversified portfolio with broader service offerings",
    "gold": "[Cause] Icon's acquisition of PRA Health Sciences [Relation] enable [Effect] create one of the largest CROs in the industry and further enhance its global footprint, creating a more diversified portfolio with broader service offerings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, Texas Instruments' size allows the firm to compete across a broader spectrum of industries, without its fortunes tied to a single customer or end market.",
    "output": "[Cause] Texas Instruments' size [Relation] enable [Effect] the firm to compete across a broader spectrum of industries",
    "gold": "[Cause] Texas Instruments' size allows the firm to compete across a broader spectrum of industries [Relation] prevent [Effect] its fortunes tied to a single customer or end market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We recognize that there are material uncertainties in the timing of the recertification and that airlines may choose to abstain from ordering new MAX aircraft post-recertification, which would be a problem for Spirit.",
    "output": "[Cause] there are material uncertainties in the timing of the recertification and that airlines may choose to abstain from ordering new MAX aircraft post-recertification [Relation] cause [Effect] a problem for Spirit",
    "gold": "[Cause] there are material uncertainties in the timing of the recertification [Relation] cause [Effect] airlines may choose to abstain from ordering new MAX aircraft post-recertification",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Its three Ohio distribution utilities represent less than 20% of operating earnings, and Ohio base rates are fixed until May 2024, providing ample time for new CEO Steven Strah to smooth regulatory and political relationships.",
    "output": "[Cause] Its three Ohio distribution utilities represent less than 20% of operating earnings, and Ohio base rates are fixed until May 2024 [Relation] enable [Effect] new CEO Steven Strah to smooth regulatory and political relationships",
    "gold": "[Cause] Its three Ohio distribution utilities represent less than 20% of operating earnings, and Ohio base rates are fixed until May 2024 [Relation] enable [Effect] new CEO Steven Strah to smooth regulatory and political relationships",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Leverage had previously become elevated after the company consummated 10 acquisitions and invested heavily to integrate cutting-edge scrap sorting and processing technologies in 2011.",
    "output": "[Cause] the company consummated 10 acquisitions and invested heavily to integrate cutting-edge scrap sorting and processing technologies in 2011 [Relation] cause [Effect] Leverage had previously become elevated",
    "gold": "[Cause] the company consummated 10 acquisitions and invested heavily to integrate cutting-edge scrap sorting and processing technologies in 2011 [Relation] cause [Effect] Leverage had previously become elevated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Air travel customers are generally price-sensitive, so carbon taxes or other regulations that force consumers to pay for the carbon side effects of travel would likely reduce aircraft demand. These risks are somewhat mitigated by the global nature of the aircraft market and a lack of global environmental regulations.",
    "output": "[Cause] Air travel customers are generally price-sensitive, so carbon taxes or other regulations that force consumers to pay for the carbon side effects of travel would likely reduce aircraft demand [Relation] cause [Effect] mitigated by the global nature of the aircraft market and a lack of global environmental regulations",
    "gold": "[Cause]  the global nature of the aircraft market and a lack of global environmental regulations [Relation] prevent [Effect] Air travel customers are generally price-sensitive, so carbon taxes or other regulations that force consumers to pay for the carbon side effects of travel would likely reduce aircraft demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Banks typically create cost advantages by controlling operating expenses, building low-cost deposit bases, and utilizing effective underwriting to keep credit costs below their peers.",
    "output": "[Cause] controlling operating expenses, building low-cost deposit bases, and utilizing effective underwriting to keep credit costs below their peers [Relation] enable [Effect] create cost advantages",
    "gold": "[Cause]  controlling operating expenses, building low-cost deposit bases, and utilizing effective underwriting to keep credit costs below their peers [Relation] enable [Effect]  create cost advantages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, we think Biogen's top line will return to 2020 levels by 2025, with steep declines in 2021 due to generic Tecfidera but growth returning in 2023 and into 2024 as new drugs launch.",
    "output": "[Cause] generic Tecfidera but growth returning in 2023 and into 2024 as new drugs launch [Relation] cause [Effect] steep declines in 2021",
    "gold": "[Cause]  steep declines in 2021 due to generic Tecfidera but growth returning in 2023 and into 2024 as new drugs launch [Relation] cause [Effect] Biogen's top line will return to 2020 levels by 2025",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the firm's cost advantages stem from preferential supplier pricing, global product sourcing, an efficient and scalable distribution network, and national accounts.",
    "output": "[Cause] preferential supplier pricing, global product sourcing, an efficient and scalable distribution network, and national accounts [Relation] enable [Effect] the firm's cost advantages",
    "gold": "[Cause] preferential supplier pricing, global product sourcing, an efficient and scalable distribution network, and national accounts [Relation] cause [Effect]  the firm's cost advantages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In order to expand beyond its legacy sweet baked goods category, Hostess made acquisitions in adjacent categories in the last few years, such as breakfast goods and cookies.",
    "output": "[Cause] Hostess made acquisitions in adjacent categories in the last few years [Relation] enable [Effect] expand beyond its legacy sweet baked goods category",
    "gold": "[Cause] In order to expand beyond its legacy sweet baked goods category [Relation] cause [Effect] Hostess made acquisitions in adjacent categories in the last few years, such as breakfast goods and cookies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, unlike aggregates and cement, these downstream products are highly perishable, as hardening will limit the range it can travel to roughly 60-90 miles.",
    "output": "[Cause] hardening [Relation] cause [Effect] limit the range it can travel to roughly 60-90 miles",
    "gold": "[Cause] hardening [Relation] cause [Effect] these downstream products are highly perishable",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Rolls-Royce's engine portfolio is geared toward wide-body aircraft catering for long-haul routes, which are expected to post a slower recovery than narrow-body counterparts as a result of lingering restrictions on international travel.",
    "output": "[Cause] lingering restrictions on international travel [Relation] cause [Effect] post a slower recovery than narrow-body counterparts",
    "gold": "[Cause] lingering restrictions on international travel [Relation] enable [Effect] post a slower recovery than narrow-body counterparts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cyclical factors that can decrease near- to medium-term earnings include a drop in asset prices, normalizing credit costs, and a recession accompanied by a drop in interest rates.",
    "output": "[Cause] a drop in asset prices, normalizing credit costs, and a recession accompanied by a drop in interest rates [Relation] cause [Effect] decrease near- to medium-term earnings",
    "gold": "[Cause] a drop in asset prices, normalizing credit costs, and a recession accompanied by a drop in interest rates [Relation] cause [Effect] decrease near- to medium-term earnings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "BGI Genomics recently highlighted that is technology could enable a $100 genome, and if that competitor is allowed to enter major markets in an unfettered fashion, Illumina could have a significant fight on its hands.",
    "output": "[Cause] that competitor is allowed to enter major markets in an unfettered fashion [Relation] cause [Effect] Illumina could have a significant fight on its hands",
    "gold": "[Cause]  that competitor is allowed to enter major markets in an unfettered fashion [Relation] cause [Effect] Illumina could have a significant fight on its hands",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also believe Campbell possesses a cost edge resulting from the economies of scale in production and distribution across its network, which has afforded it the ability to invest significant resources behind research, development, and advertising.",
    "output": "[Cause] the economies of scale in production and distribution across its network [Relation] cause [Effect] Campbell possesses a cost edge",
    "gold": "[Cause]  the economies of scale in production and distribution across its network [Relation] cause [Effect] Campbell possesses a cost edge",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also believe Campbell possesses a cost edge resulting from the economies of scale in production and distribution across its network, which has afforded it the ability to invest significant resources behind research, development, and advertising.",
    "output": "[Cause] Campbell possesses a cost edge [Relation] enable [Effect] afforded it the ability to invest significant resources behind research, development, and advertising",
    "gold": "[Cause]  the economies of scale in production and distribution across its network [Relation] cause [Effect]  invest significant resources behind research, development, and advertising",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In other words, the slightest mistake in shaping the parts or error in the automation process can ultimately lead to significant economic loss.",
    "output": "[Cause] the slightest mistake in shaping the parts or error in the automation process [Relation] cause [Effect] significant economic loss",
    "gold": "[Cause] the slightest mistake in shaping the parts or error in the automation process [Relation] cause [Effect] significant economic loss",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect additional indications in areas such as the recently added severe asthma indication will help the drug serve additional patients.",
    "output": "[Cause] additional indications in areas such as the recently added severe asthma indication [Relation] enable [Effect] help the drug serve additional patients",
    "gold": "[Cause] additional indications in areas such as the recently added severe asthma indication [Relation] enable [Effect] help the drug serve additional patients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, once an infusion pump is placed at a hospital, we believe that facility is unlikely to create a workflow disruption by switching to a new pump provider.",
    "output": "[Cause] an infusion pump is placed at a hospital [Relation] cause [Effect] facility is unlikely to create a workflow disruption by switching to a new pump provider",
    "gold": "[Cause] a new pump provider [Relation] cause [Effect] unlikely to create a workflow disruption by switching",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In years of oversupply and deflated pricing, however, Western is liable for economic losses on a large invested capital base.",
    "output": "[Cause] Western is liable for economic losses on a large invested capital base [Relation] cause [Effect] economic losses",
    "gold": "[Cause] deflated pricing [Relation] cause [Effect] Western is liable for economic losses on a large invested capital base",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Ionis has a broad pipeline and strong collaboration partners to help usher drugs for large indications (requiring large clinical trials and salesforces) to market.",
    "output": "[Cause] Ionis has a broad pipeline and strong collaboration partners [Relation] enable [Effect] help usher drugs for large indications (requiring large clinical trials and salesforces) to market",
    "gold": "[Cause] Ionis has a broad pipeline and strong collaboration partners [Relation] enable [Effect] help usher drugs for large indications (requiring large clinical trials and salesforces) to market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As with most exploration and production firms, a deteriorating outlook for oil and natural gas prices would pressure this firm's profitability, reduce cash flows, and drive up financial leverage.",
    "output": "[Cause] a deteriorating outlook for oil and natural gas prices [Relation] cause [Effect] pressure this firm's profitability, reduce cash flows, and drive up financial leverage",
    "gold": "[Cause]  a deteriorating outlook for oil and natural gas prices [Relation] cause [Effect]  pressure this firm's profitability, reduce cash flows, and drive up financial leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although there is not a major maturation of debt until 2024, when $4.4 billion is due, a prolonged economic downturn from COVID-19 or sustained drop in Caesars' competitive positioning could present challenges meeting debt obligations.",
    "output": "[Cause] a prolonged economic downturn from COVID-19 or sustained drop in Caesars' competitive positioning [Relation] cause [Effect] present challenges meeting debt obligations",
    "gold": "[Cause] a prolonged economic downturn from COVID-19 or sustained drop in Caesars' competitive positioning [Relation] cause [Effect] present challenges meeting debt obligations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Tesla's gigafactories may become terafactories as Tesla seeks to grow its cell capacity to 3 terawatt-hours by 2030 from 0.1 terawatt-hours in 2019.",
    "output": "[Cause] Tesla seeks to grow its cell capacity to 3 terawatt-hours by 2030 from 0.1 terawatt-hours in 2019 [Relation] cause [Effect] Tesla's gigafactories may become terafactories",
    "gold": "[Cause] Tesla seeks to grow its cell capacity to 3 terawatt-hours by 2030 from 0.1 terawatt-hours in 2019 [Relation] cause [Effect] Tesla's gigafactories may become terafactories",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, despite the expectation that Motorola's infrastructure is interoperable, we believe that the mission-critical nature of the devices used by first responders and police, as well as limited time and budget for experimentation on this front, makes Motorola the rational choice for existing customers.",
    "output": "[Cause] the mission-critical nature of the devices used by first responders and police, as well as limited time and budget for experimentation on this front [Relation] enable [Effect] Motorola the rational choice for existing customers",
    "gold": "[Cause]  the mission-critical nature of the devices used by first responders and police, as well as limited time and budget for experimentation on this front [Relation] enable [Effect] Motorola the rational choice for existing customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we expect excess returns to diminish over the next decade as paper-to-linerboard conversions imply a looser supply/demand balance and increased price competition.",
    "output": "[Cause] paper-to-linerboard conversions imply a looser supply/demand balance and increased price competition [Relation] cause [Effect] excess returns to diminish over the next decade",
    "gold": "[Cause]  paper-to-linerboard conversions imply a looser supply/demand balance and increased price competition [Relation] cause [Effect] excess returns to diminish over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Internationally, we expect a much more robust growth rate given the long runway in both the global dialysis clinic landscape and DaVita's strategy to grow that business.",
    "output": "[Cause] the long runway in both the global dialysis clinic landscape and DaVita's strategy to grow that business [Relation] cause [Effect] a much more robust growth rate",
    "gold": "[Cause]  the long runway in both the global dialysis clinic landscape and DaVita's strategy to grow that business [Relation] cause [Effect]  a much more robust growth rate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In hyperscale data centers, the entire technological plumbing is replaced every 12-24 months, meaning that TE needs to constantly rewin designs.",
    "output": "[Cause] the entire technological plumbing is replaced every 12-24 months [Relation] cause [Effect] TE needs to constantly rewin designs",
    "gold": "[Cause] the entire technological plumbing is replaced every 12-24 months [Relation] cause [Effect] TE needs to constantly rewin designs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Many repair shop clients' ability to endure the crisis is uncertain; closures can create opportunities for AutoZone to grow with survivors as they take share or cost it long-standing clients.",
    "output": "[Cause] they take share or cost it long-standing clients [Relation] cause [Effect] closures can create opportunities for AutoZone to grow with survivors",
    "gold": "[Cause]  closures [Relation] cause [Effect] create opportunities for AutoZone",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "On a national level, we expect infrastructure spending to increase about 6% annually, an acceleration from the last couple of decades, as inadequate historical funding has led to worsening conditions.",
    "output": "[Cause] inadequate historical funding has led to worsening conditions [Relation] cause [Effect] infrastructure spending to increase about 6% annually, an acceleration from the last couple of decades",
    "gold": "[Cause] inadequate historical funding has led to worsening conditions [Relation] cause [Effect] expect infrastructure spending to increase about 6% annually",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the amount of product volume it sells, HD Supply is able to take advantage of volume-based rebates and other sales incentives to lower its cost of goods sold and support superior gross profit margins.",
    "output": "[Cause] the amount of product volume it sells [Relation] cause [Effect] HD Supply is able to take advantage of volume-based rebates and other sales incentives to lower its cost of goods sold and support superior gross profit margins",
    "gold": "[Cause]  the amount of product volume it sells [Relation] cause [Effect] HD Supply is able to take advantage of volume-based rebates and other sales incentives to lower its cost of goods sold and support superior gross profit margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect revenue growth and more efficient homebuilding operations will unlock operating leverage reducing selling, general, and administrative expenses as percentage of revenue.",
    "output": "[Cause] revenue growth and more efficient homebuilding operations [Relation] enable [Effect] unlock operating leverage reducing selling, general, and administrative expenses as percentage of revenue",
    "gold": "[Cause] revenue growth and more efficient homebuilding operations [Relation] cause [Effect] unlock operating leverage reducing selling, general, and administrative expenses as percentage of revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Rather, we think the combination of COVID-19 costs (related to safety and sanitation) and increased investments in manufacturing and distribution capacity will continue to drag on margins through fiscal 2021.",
    "output": "[Cause] the combination of COVID-19 costs (related to safety and sanitation) and increased investments in manufacturing and distribution capacity [Relation] cause [Effect] drag on margins through fiscal 2021",
    "gold": "[Cause] the combination of COVID-19 costs (related to safety and sanitation) and increased investments in manufacturing and distribution capacity [Relation] cause [Effect] drag on margins through fiscal 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although luxury brands (like Audi and Porsche) are generally more profitable than their high-volume counterparts, unit sales can be more susceptible to volume swings during economically challenging times as consumers consider more austere personal budgeting.",
    "output": "[Cause] consumers consider more austere personal budgeting [Relation] cause [Effect] unit sales can be more susceptible to volume swings during economically challenging times",
    "gold": "[Cause] consumers consider more austere personal budgeting [Relation] cause [Effect]  unit sales can be more susceptible to volume swings during economically challenging times",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If profits contract on a sustainable basis, Tenet may have trouble refinancing its obligations at reasonable interest rates or at all, especially when its major debt maturities start coming due in 2023 and beyond.",
    "output": "[Cause] profits contract on a sustainable basis [Relation] cause [Effect] Tenet may have trouble refinancing its obligations at reasonable interest rates or at all",
    "gold": "[Cause] profits contract on a sustainable basis [Relation] cause [Effect] Tenet may have trouble refinancing its obligations at reasonable interest rates or at all",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the high cost of failure, this creates customer switching costs, as end users are reluctant to switch vendors given that the potential cost of unscheduled downtime and safety considerations.",
    "output": "[Cause] the high cost of failure [Relation] cause [Effect] customer switching costs",
    "gold": "[Cause] the high cost of failure [Relation] cause [Effect] customer switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the high cost of failure, this creates customer switching costs, as end users are reluctant to switch vendors given that the potential cost of unscheduled downtime and safety considerations.",
    "output": "[Cause] the potential cost of unscheduled downtime and safety considerations [Relation] cause [Effect] end users are reluctant to switch vendors",
    "gold": "[Cause] the potential cost of unscheduled downtime and safety considerations [Relation] cause [Effect] end users are reluctant to switch vendors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Historically, its acquisition track record has been strong with Illumina's dominance in the sequencing market largely stemming from the 2007 acquisition of Solexa, which gave Illumina the foundation of its fluorescently labeled terminator sequencing-by-synthesis chemistry in its sequencing machines.",
    "output": "[Cause] its acquisition track record has been strong with Illumina's dominance in the sequencing market largely stemming from the 2007 acquisition of Solexa [Relation] enable [Effect] gave Illumina the foundation of its fluorescently labeled terminator sequencing-by-synthesis chemistry in its sequencing machines",
    "gold": "[Cause] its acquisition track record has been strong with Illumina's dominance in the sequencing market largely stemming from the 2007 acquisition of Solexa [Relation] cause [Effect] gave Illumina the foundation of its fluorescently labeled terminator sequencing-by-synthesis chemistry in its sequencing machines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Burlington benefits from vendor relationships and an efficient cost structure that constitute competitive advantages, with efforts to improve its assortment, merchandising, and store footprint likely to lift long-term returns.",
    "output": "[Cause] efforts to improve its assortment, merchandising, and store footprint likely to lift long-term returns [Relation] enable [Effect] Burlington benefits from vendor relationships and an efficient cost structure that constitute competitive advantages",
    "gold": "[Cause] constitute competitive advantages, with efforts to improve its assortment, merchandising, and store footprint [Relation] cause [Effect]  lift long-term returns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "COVID-19 caused significant demand volatility from the firm's food-service (26% of fiscal 2020 sales) and retail customers (67% of sales).",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] significant demand volatility from the firm's food-service (26% of fiscal 2020 sales) and retail customers (67% of sales)",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] significant demand volatility from the firm's food-service (26% of fiscal 2020 sales) and retail customers (67% of sales)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, several of Bristol's currently marketed drugs are biologics, which create additional hurdles for generic firms as the cost of developing and marketing biosimilars is much higher than for typical generic small molecules.",
    "output": "[Cause] the cost of developing and marketing biosimilars is much higher than for typical generic small molecules [Relation] cause [Effect] several of Bristol's currently marketed drugs are biologics, which create additional hurdles for generic firms",
    "gold": "[Cause] the cost of developing and marketing biosimilars is much higher than for typical generic small molecules [Relation] cause [Effect] several of Bristol's currently marketed drugs are biologics, which create additional hurdles for generic firms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due, in part, to the negative impact of the COVID-19 crisis, we forecast Capri's adjusted ROICs including goodwill will fall below our WACC estimate for the company of 10% in fiscal 2021 as well.",
    "output": "[Cause] the negative impact of the COVID-19 crisis [Relation] cause [Effect] Capri's adjusted ROICs including goodwill will fall below our WACC estimate for the company of 10% in fiscal 2021 as well",
    "gold": "[Cause] the negative impact of the COVID-19 crisis [Relation] cause [Effect]  Capri's adjusted ROICs including goodwill will fall below our WACC estimate for the company of 10% in fiscal 2021 as well",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Similar to its efforts in North America over the years, we think LKQ will drive procurement costs down by rationalizing its product portfolio.",
    "output": "[Cause] rationalizing its product portfolio [Relation] enable [Effect] LKQ will drive procurement costs down",
    "gold": "[Cause]  rationalizing its product portfolio [Relation] enable [Effect] LKQ will drive procurement costs down",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Though we anticipate continued profitability, we believe that the gap between Banco de Chile and its closest competitor has narrowed significantly. As a result, a pivot to more digitally integrated offerings and expanded efforts to reach a large population of unbanked Chileans have become more urgent.",
    "output": "[Cause] Though we anticipate continued profitability, we believe that the gap between Banco de Chile and its closest competitor has narrowed significantly [Relation] cause [Effect] a pivot to more digitally integrated offerings and expanded efforts to reach a large population of unbanked Chileans have become more urgent",
    "gold": "[Cause] Though we anticipate continued profitability, we believe that the gap between Banco de Chile and its closest competitor has narrowed significantly [Relation] cause [Effect] a pivot to more digitally integrated offerings and expanded efforts to reach a large population of unbanked Chileans have become more urgent",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Sysco's scale also provides the firm with the resources to invest in its business to ensure that it is able to deliver a very high level of service.",
    "output": "[Cause] Sysco's scale [Relation] enable [Effect] the firm with the resources to invest in its business",
    "gold": "[Cause] provides the firm with the resources to invest in its business [Relation] enable [Effect] ensure that it is able to deliver a very high level of service",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Coca-Cola Femsa, which would ostensibly be a good comp since it's a bottler focusing on finished drink production, is not a brand owner (unlike National Beverage, which owns the actual LaCroix trademark).",
    "output": "[Cause] it's a bottler focusing on finished drink production [Relation] cause [Effect] Coca-Cola Femsa, which would ostensibly be a good comp",
    "gold": "[Cause]  it's a bottler focusing on finished drink production [Relation] enable [Effect] Coca-Cola Femsa, which would ostensibly be a good comp",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Regulatory changes could limit Experian's ability to monetize its database and increase its costs, and the company has been fined on more than one occasion.",
    "output": "[Cause] Regulatory changes [Relation] prevent [Effect] limit Experian's ability to monetize its database and increase its costs",
    "gold": "[Cause] Regulatory changes [Relation] prevent [Effect] limit Experian's ability to monetize its database and increase its costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Regulatory changes could limit Experian's ability to monetize its database and increase its costs, and the company has been fined on more than one occasion.",
    "output": "[Cause] Regulatory changes [Relation] prevent [Effect] the company has been fined on more than one occasion",
    "gold": "[Cause] Regulatory changes [Relation] cause [Effect] the company has been fined on more than one occasion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fortunately for IBM, we think its enterprise customers are particularly sticky, especially as IBM tends to serve very large customers within regulated industries.",
    "output": "[Cause] IBM tends to serve very large customers within regulated industries [Relation] cause [Effect] its enterprise customers are particularly sticky",
    "gold": "[Cause] IBM tends to serve very large customers within regulated industries [Relation] cause [Effect] its enterprise customers are particularly sticky",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Though the service component of revenue provides a buffer to cyclical capital spending, the long lifecycle of Mettler's products can cause results to deteriorate during cyclical downturns.",
    "output": "[Cause] the service component of revenue [Relation] enable [Effect] a buffer to cyclical capital spending",
    "gold": "[Cause] the service component of revenue [Relation] enable [Effect] a buffer to cyclical capital spending",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through its 62% ownership of Ambev, the company is dominant in Latin America, where it holds dominant leadership positions in very concentrated markets.",
    "output": "[Cause] its 62% ownership of Ambev [Relation] enable [Effect] the company is dominant in Latin America",
    "gold": "[Cause] its 62% ownership of Ambev [Relation] cause [Effect]  the company is dominant in Latin America",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through its 62% ownership of Ambev, the company is dominant in Latin America, where it holds dominant leadership positions in very concentrated markets.",
    "output": "[Cause] its 62% ownership of Ambev [Relation] enable [Effect] the company is dominant in Latin America",
    "gold": "[Cause]  the company is dominant in Latin America [Relation] enable [Effect] it holds dominant leadership positions in very concentrated markets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This area has become too large to ignore, and the pandemic and the resulting spike in online activity has only reinforced the importance of capabilities in this area.",
    "output": "[Cause] the pandemic and the resulting spike in online activity [Relation] cause [Effect] reinforced the importance of capabilities in this area",
    "gold": "[Cause] the pandemic and the resulting spike in online activity [Relation] cause [Effect] reinforced the importance of capabilities in this area",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Tyson faces numerous environmental, social, and governance risks, the most pressing of which are reduced consumption of its products given health and environmental concerns, both of which are incorporated into our base-case scenario.",
    "output": "[Cause] health and environmental concerns [Relation] cause [Effect] reduced consumption of its products",
    "gold": "[Cause] reduced consumption of its products given health and environmental concerns [Relation] cause [Effect] Tyson faces numerous environmental, social, and governance risks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The strategic rationale behind ING's sprawling geographic footprint is not clear to us and we believe ING can drive a material re-rating of its valuation by the market if it were to reduce its exposure to markets outside of the Benelux and Germany.",
    "output": "[Cause] it were to reduce its exposure to markets outside of the Benelux and Germany [Relation] enable [Effect] ING can drive a material re-rating of its valuation by the market",
    "gold": "[Cause]  it were to reduce its exposure to markets outside of the Benelux and Germany [Relation] enable [Effect] ING can drive a material re-rating of its valuation by the market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Tapestry increasingly depends on Greater China for profits and growth, so any slowdown in consumer spending in the region would have an adverse effect.",
    "output": "[Cause] Tapestry increasingly depends on Greater China for profits and growth [Relation] cause [Effect] any slowdown in consumer spending in the region would have an adverse effect",
    "gold": "[Cause] Tapestry increasingly depends on Greater China for profits and growth [Relation] cause [Effect] any slowdown in consumer spending in the region would have an adverse effect",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "PerkinElmer's recent Meizheng acquisition for food safety should add demand for analytical instrumentation and bolster the firm's environmental and food business channels.",
    "output": "[Cause] PerkinElmer's recent Meizheng acquisition for food safety [Relation] enable [Effect] add demand for analytical instrumentation and bolster the firm's environmental and food business channels",
    "gold": "[Cause] PerkinElmer's recent Meizheng acquisition for food safety [Relation] enable [Effect]  add demand for analytical instrumentation and bolster the firm's environmental and food business channels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cancer treatment isn't an elective procedure and even though hospitals' capital spending will be tight in the near term, long-term opportunity should remain robust.",
    "output": "[Cause] Cancer treatment isn't an elective procedure [Relation] cause [Effect] long-term opportunity should remain robust",
    "gold": "[Cause] Cancer treatment isn't an elective procedure [Relation] enable [Effect]  long-term opportunity should remain robust",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The offset is that DCP's logistics operations are better protected with take-or-pay contracts for the Cheyenne Connector and Gulf Coast Express.",
    "output": "[Cause] take-or-pay contracts for the Cheyenne Connector and Gulf Coast Express [Relation] enable [Effect] DCP's logistics operations are better protected",
    "gold": "[Cause] take-or-pay contracts for the Cheyenne Connector and Gulf Coast Express [Relation] enable [Effect]  DCP's logistics operations are better protected",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's parts distribution and extensive dealer network provide customers with aftermarket parts and reliable services to ensure their equipment operate efficiently, saving them from the headache of machine down-time and from having to search for parts independently.",
    "output": "[Cause] The company's parts distribution and extensive dealer network provide customers with aftermarket parts and reliable services to ensure their equipment operate efficiently [Relation] enable [Effect] saving them from the headache of machine down-time and from having to search for parts independently",
    "gold": "[Cause] The company's parts distribution and extensive dealer network provide customers with aftermarket parts and reliable services to ensure their equipment operate efficiently [Relation] enable [Effect] saving them from the headache of machine down-time and from having to search for parts independently",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's unique ability to effect cost controls gives it the highest operating margins of its peer group, and allows it to quickly bring its numerous acquisitions up to firmwide profitability.",
    "output": "[Cause] The firm's unique ability to effect cost controls [Relation] enable [Effect] the highest operating margins of its peer group",
    "gold": "[Cause] The firm's unique ability to effect cost controls [Relation] enable [Effect] the highest operating margins of its peer group",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's unique ability to effect cost controls gives it the highest operating margins of its peer group, and allows it to quickly bring its numerous acquisitions up to firmwide profitability.",
    "output": "[Cause] The firm's unique ability to effect cost controls [Relation] enable [Effect] quickly bring its numerous acquisitions up to firmwide profitability",
    "gold": "[Cause] The firm's unique ability to effect cost controls [Relation] cause [Effect] quickly bring its numerous acquisitions up to firmwide profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While these buildouts will take time, we think such direction is a good one to keep propelling the QuickBooks network effect as customers continue to demand all-in-one software to run their businesses.",
    "output": "[Cause] customers continue to demand all-in-one software to run their businesses [Relation] cause [Effect] keep propelling the QuickBooks network effect",
    "gold": "[Cause] customers continue to demand all-in-one software to run their businesses [Relation] cause [Effect] keep propelling the QuickBooks network effect",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If CMS can keep rate increases modest by controlling operating costs, we expect it will continue to get regulatory support.",
    "output": "[Cause] CMS can keep rate increases modest by controlling operating costs [Relation] enable [Effect] it will continue to get regulatory support",
    "gold": "[Cause] CMS can keep rate increases modest by controlling operating costs [Relation] enable [Effect]  it will continue to get regulatory support",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Today, with a stronger balance sheet, the company has operations in 14 countries and a rapidly growing renewable energy business supported by a well-positioned battery storage joint venture with Siemens.",
    "output": "[Cause] a stronger balance sheet [Relation] enable [Effect] the company has operations in 14 countries",
    "gold": "[Cause] a well-positioned battery storage joint venture with Siemens [Relation] cause [Effect] the company has operations in 14 countries and a rapidly growing renewable energy business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Today, with a stronger balance sheet, the company has operations in 14 countries and a rapidly growing renewable energy business supported by a well-positioned battery storage joint venture with Siemens.",
    "output": "[Cause] a well-positioned battery storage joint venture with Siemens [Relation] enable [Effect] a rapidly growing renewable energy business",
    "gold": "[Cause]  a stronger balance sheet [Relation] enable [Effect] the company has operations in 14 countries",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Today, with a stronger balance sheet, the company has operations in 14 countries and a rapidly growing renewable energy business supported by a well-positioned battery storage joint venture with Siemens.",
    "output": "[Cause] a well-positioned battery storage joint venture with Siemens [Relation] enable [Effect] a rapidly growing renewable energy business",
    "gold": "[Cause]  a well-positioned battery storage joint venture with Siemens [Relation] enable [Effect] a rapidly growing renewable energy business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "About $5 of the increase is attributable to increasing our stand-alone S&P Global operating income forecast, primarily to reflect the positive effect the equity bull market has on the firm's asset-linked fees in indices.",
    "output": "[Cause] increasing our stand-alone S&P Global operating income forecast [Relation] cause [Effect] About $5 of the increase",
    "gold": "[Cause]  increasing our stand-alone S&P Global operating income forecast [Relation] cause [Effect] About $5 of the increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As mobile and PC markets begin to mature, Synaptics has buoyed its access to greenfield opportunities in smart homes, automotive, and future devices through ongoing investment and strategic acquisitions.",
    "output": "[Cause] ongoing investment and strategic acquisitions [Relation] enable [Effect] Synaptics has buoyed its access to greenfield opportunities in smart homes, automotive, and future devices",
    "gold": "[Cause] ongoing investment and strategic acquisitions [Relation] enable [Effect] Synaptics has buoyed its access to greenfield opportunities in smart homes, automotive, and future devices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Intercontinental Exchange has continued to diversify its revenue streams by using a series acquisitions to build its position in mortgage technology and fixed-income data.",
    "output": "[Cause] using a series acquisitions [Relation] enable [Effect] build its position in mortgage technology and fixed-income data",
    "gold": "[Cause] using a series acquisitions [Relation] enable [Effect] build its position in mortgage technology and fixed-income data",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Intercontinental Exchange has continued to diversify its revenue streams by using a series acquisitions to build its position in mortgage technology and fixed-income data.",
    "output": "[Cause] a series acquisitions [Relation] enable [Effect] build its position in mortgage technology and fixed-income data",
    "gold": "[Cause] build its position in mortgage technology and fixed-income data [Relation] enable [Effect] diversify its revenue streams",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We estimate that Snap-on's fastest-growing segment, repair systems and information, will likely continue to outperform the other two, bolstering margins.",
    "output": "[Cause] Snap-on's fastest-growing segment, repair systems and information, will likely continue to outperform the other two [Relation] enable [Effect] bolstering margins",
    "gold": "[Cause] Snap-on's fastest-growing segment, repair systems and information, will likely continue to outperform the other two [Relation] enable [Effect] bolstering margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Other examples include air compressors at factories and frac pumps, which typically account for less than 10% of the overall capital outlay, but any product failures could disrupt a customer's operations.",
    "output": "[Cause] any product failures [Relation] cause [Effect] disrupt a customer's operations",
    "gold": "[Cause] any product failures [Relation] cause [Effect] disrupt a customer's operations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The lower-quality mix in the remaining owned assets is more than offset by the overall higher mix of asset-light hotels. As a result, we project operating margins reaching 21.8% in 2029 from 17.5% in 2019 and 2029 EBI growth of 6.8%.",
    "output": "[Cause] The lower-quality mix in the remaining owned assets is more than offset by the overall higher mix of asset-light hotels [Relation] cause [Effect] operating margins reaching 21.8% in 2029 from 17.5% in 2019 and 2029 EBI growth of 6.8%",
    "gold": "[Cause] The lower-quality mix in the remaining owned assets is more than offset by the overall higher mix of asset-light hotels [Relation] cause [Effect] operating margins reaching 21.8% in 2029 from 17.5% in 2019 and 2029 EBI growth of 6.8%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect price and cost pressures will limit profitability, though improved sourcing, distribution, and private-label offerings should lead the segment's adjusted operating margin to approach 5% long term (from roughly 2% in fiscal 2019).",
    "output": "[Cause] price and cost pressures [Relation] prevent [Effect] profitability",
    "gold": "[Cause] price and cost pressures [Relation] prevent [Effect] profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think technological advances pose the biggest risk to Equinix's long-term prospects, as they could result in an environment where cloud growth, interconnection, and data usage continue to grow, but Equinix is not the beneficiary.",
    "output": "[Cause] they could result in an environment where cloud growth, interconnection, and data usage continue to grow, but Equinix is not the beneficiary [Relation] cause [Effect] technological advances pose the biggest risk to Equinix's long-term prospects",
    "gold": "[Cause] they could result in an environment where cloud growth, interconnection, and data usage continue to grow, but Equinix is not the beneficiary [Relation] cause [Effect] technological advances pose the biggest risk to Equinix's long-term prospects",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The fleet of 16,000 in-service engines globally generate high-margin revenue but do not enjoy the same level of switching costs present in the civil aerospace segment due to low attachment rates.",
    "output": "[Cause] low attachment rates [Relation] cause [Effect] do not enjoy the same level of switching costs present in the civil aerospace segment",
    "gold": "[Cause]  low attachment rates [Relation] cause [Effect]  do not enjoy the same level of switching costs present in the civil aerospace segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nonetheless, the proximity model is important for the firm's government vertical as governments often require data to remain within their sovereign borders to better ensure data security.",
    "output": "[Cause] governments often require data to remain within their sovereign borders to better ensure data security [Relation] cause [Effect] the proximity model is important for the firm's government vertical",
    "gold": "[Cause] governments often require data to remain within their sovereign borders to better ensure data security [Relation] cause [Effect] the proximity model is important for the firm's government vertical",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Campbell's torrid pace of gains since the pandemic took hold came to a screeching halt in its third fiscal quarter, as sales slumped at a low-double-digit rate, including a more than 20% downdraft in its domestic soup arm.",
    "output": "[Cause] sales slumped at a low-double-digit rate, including a more than 20% downdraft in its domestic soup arm [Relation] cause [Effect] Campbell's torrid pace of gains since the pandemic took hold came to a screeching halt in its third fiscal quarter",
    "gold": "[Cause] Campbell's torrid pace of gains since the pandemic took hold came to a screeching halt in its third fiscal quarter, as sales slumped at a low-double-digit rate [Relation] prevent [Effect]  including a more than 20% downdraft in its domestic soup arm",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While traditional agencies like WPP and Omnicom also have digital agency offerings, Accenture has been able to make it in the top 10 marketing agencies worldwide (according to Ad Age) due to it already having the technology expertise and the relevant customer relationships.",
    "output": "[Cause] it already having the technology expertise and the relevant customer relationships [Relation] cause [Effect] Accenture has been able to make it in the top 10 marketing agencies worldwide",
    "gold": "[Cause] Accenture has been able to make it in the top 10 marketing agencies worldwide (according to Ad Age) [Relation] cause [Effect]  it already having the technology expertise and the relevant customer relationships",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, researchers tend to stay focused on the same disease or even the same gene for their entire careers, which makes it less likely that clients would have an opportunity to shift model suppliers simply because of a new project.",
    "output": "[Cause] researchers tend to stay focused on the same disease or even the same gene for their entire careers [Relation] cause [Effect] makes it less likely that clients would have an opportunity to shift model suppliers simply because of a new project",
    "gold": "[Cause] researchers tend to stay focused on the same disease or even the same gene for their entire careers [Relation] cause [Effect] makes it less likely that clients would have an opportunity to shift model suppliers simply because of a new project",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think margins can expand in the wireline segment, as the FTTP network will allow for pricing power and cost savings, and remain flat in wireless (after a spike in 2020 due to lower equipment sales) as competition weighs on pricing power.",
    "output": "[Cause] competition weighs on pricing power [Relation] cause [Effect] remain flat in wireless",
    "gold": "[Cause] the FTTP network will allow for pricing power and cost savings [Relation] cause [Effect] margins can expand in the wireline segment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think margins can expand in the wireline segment, as the FTTP network will allow for pricing power and cost savings, and remain flat in wireless (after a spike in 2020 due to lower equipment sales) as competition weighs on pricing power.",
    "output": "[Cause] competition weighs on pricing power [Relation] cause [Effect] remain flat in wireless",
    "gold": "[Cause] competition weighs on pricing power [Relation] cause [Effect] remain flat in wireless",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think margins can expand in the wireline segment, as the FTTP network will allow for pricing power and cost savings, and remain flat in wireless (after a spike in 2020 due to lower equipment sales) as competition weighs on pricing power.",
    "output": "[Cause] competition weighs on pricing power [Relation] cause [Effect] remain flat in wireless",
    "gold": "[Cause]  lower equipment sales [Relation] cause [Effect] a spike in 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, we are forecasting 5% growth for the firm's communications solutions segment, as rapidly growing data center sales become a larger portion of the segment's top line.",
    "output": "[Cause] rapidly growing data center sales become a larger portion of the segment's top line [Relation] cause [Effect] we are forecasting 5% growth for the firm's communications solutions segment",
    "gold": "[Cause] rapidly growing data center sales become a larger portion of the segment's top line [Relation] cause [Effect] we are forecasting 5% growth for the firm's communications solutions segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This complexity, combined with access to discounted heavy waterborne crude, has historically allowed Valero to realize a cost advantage by processing cheaper, lower-quality crude as feedstock, increasing realized margins.",
    "output": "[Cause] This complexity, combined with access to discounted heavy waterborne crude [Relation] enable [Effect] Valero to realize a cost advantage by processing cheaper, lower-quality crude as feedstock, increasing realized margins",
    "gold": "[Cause] This complexity, combined with access to discounted heavy waterborne crude [Relation] enable [Effect] Valero to realize a cost advantage by processing cheaper, lower-quality crude as feedstock, increasing realized margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Spend management use cases include supplier insights and savings opportunities, risk use cases include fraud detection, and operational use cases include anonymized benchmarking against other customers to identify potential ways to drive efficiency.",
    "output": "[Cause] Spend management use cases include supplier insights and savings opportunities, risk use cases include fraud detection, and operational use cases include anonymized benchmarking against other customers [Relation] enable [Effect] identify potential ways to drive efficiency",
    "gold": "[Cause] Spend management use cases include supplier insights and savings opportunities, risk use cases include fraud detection, and operational use cases include anonymized benchmarking against other customers [Relation] enable [Effect] identify potential ways to drive efficiency",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Brokers such as Jones Lang LaSalle and CBRE Group negotiate on behalf of tenants to ensure that the terms of lease agreements are priced appropriately.",
    "output": "[Cause] Brokers such as Jones Lang LaSalle and CBRE Group negotiate on behalf of tenants [Relation] enable [Effect] ensure that the terms of lease agreements are priced appropriately",
    "gold": "[Cause] Brokers such as Jones Lang LaSalle and CBRE Group negotiate on behalf of tenants [Relation] cause [Effect] ensure that the terms of lease agreements are priced appropriately",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate Ross has bridged the worst of a challenging start to 2021, with a difficult environment for experience-oriented physical retail eased by economic stimulus, continued strength in home décor categories, and the start of Americans' post-pandemic wardrobe rebuild.",
    "output": "[Cause] economic stimulus, continued strength in home décor categories, and the start of Americans' post-pandemic wardrobe rebuild [Relation] cause [Effect] a difficult environment for experience-oriented physical retail eased",
    "gold": "[Cause] a difficult environment for experience-oriented physical retail eased by economic stimulus, continued strength in home décor categories, and the start of Americans' post-pandemic wardrobe rebuild [Relation] cause [Effect] Ross has bridged the worst of a challenging start to 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Avangrid is well positioned to invest in offshore wind projects during the coming decade, as the Northeast looks to the Atlantic to meet its aggressive state renewable energy requirements.",
    "output": "[Cause] the Northeast looks to the Atlantic to meet its aggressive state renewable energy requirements [Relation] cause [Effect] Avangrid is well positioned to invest in offshore wind projects during the coming decade",
    "gold": "[Cause] the Northeast looks to the Atlantic [Relation] enable [Effect]  meet its aggressive state renewable energy requirements",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With the the millennial cohort in the front end of the company's targeted age range, we believe demographic tailwinds exist that will drive further top-line gains.",
    "output": "[Cause] demographic tailwinds exist [Relation] enable [Effect] drive further top-line gains",
    "gold": "[Cause]  the the millennial cohort in the front end of the company's targeted age range [Relation] cause [Effect]  demographic tailwinds exist that will drive further top-line gains",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We have increased revenue in the music division benefiting gross margin in the past few quarters due to leverage from fixed costs and change in compensation structure.",
    "output": "[Cause] leverage from fixed costs and change in compensation structure [Relation] cause [Effect] We have increased revenue in the music division benefiting gross margin in the past few quarters",
    "gold": "[Cause] leverage from fixed costs and change in compensation structure [Relation] cause [Effect] We have increased revenue in the music division benefiting gross margin in the past few quarters",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There are differences in the regulatory structure between oil (NGL pipelines are included) and gas pipelines, meaning that individually, oil pipelines face lower regulatory barriers to entry than a gas pipeline, but more practical barriers to entry also appear for oil pipelines.",
    "output": "[Cause] differences in the regulatory structure between oil (NGL pipelines are included) and gas pipelines [Relation] cause [Effect] oil pipelines face lower regulatory barriers to entry than a gas pipeline",
    "gold": "[Cause] differences in the regulatory structure between oil (NGL pipelines are included) and gas pipelines [Relation] cause [Effect] oil pipelines face lower regulatory barriers to entry than a gas pipeline | more practical barriers to entry also appear for oil pipelines",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company aims to maintain its stronghold in these categories by focusing its innovation and acquisition activity on areas that capture these trends.",
    "output": "[Cause] focusing its innovation and acquisition activity on areas that capture these trends [Relation] enable [Effect] maintain its stronghold in these categories",
    "gold": "[Cause] focusing its innovation and acquisition activity on areas that capture these trends [Relation] enable [Effect] maintain its stronghold in these categories",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that Delta is well positioned to withstand the pandemic, but its strategy of extracting value from business travelers will be challenging in a lower-fare environment that focuses on serving leisure travel.",
    "output": "[Cause] a lower-fare environment that focuses on serving leisure travel [Relation] cause [Effect] its strategy of extracting value from business travelers will be challenging",
    "gold": "[Cause] its strategy of extracting value from business travelers [Relation] cause [Effect] be challenging in a lower-fare environment that focuses on serving leisure travel",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Changes to the company's cost structure were insufficient during its initial reorganization, which led to the second trip to bankruptcy court.",
    "output": "[Cause] Changes to the company's cost structure were insufficient during its initial reorganization [Relation] cause [Effect] the second trip to bankruptcy court",
    "gold": "[Cause] Changes to the company's cost structure were insufficient during its initial reorganization [Relation] cause [Effect] the second trip to bankruptcy court",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We estimate 50% to 60% of US Foods' business uses negotiated spot prices, which exposes US Foods to food inflation risk.",
    "output": "[Cause] 50% to 60% of US Foods' business uses negotiated spot prices [Relation] cause [Effect] exposes US Foods to food inflation risk",
    "gold": "[Cause] US Foods to food inflation risk [Relation] cause [Effect] 50% to 60% of US Foods' business uses negotiated spot prices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nevertheless, the Monsanto assets should drive some top- and bottom-line synergies (likely close to management's $1.2 billion estimate) with Bayer's crop science group.",
    "output": "[Cause] the Monsanto assets [Relation] enable [Effect] drive some top- and bottom-line synergies (likely close to management's $1.2 billion estimate) with Bayer's crop science group",
    "gold": "[Cause] the Monsanto assets [Relation] enable [Effect] drive some top- and bottom-line synergies (likely close to management's $1.2 billion estimate) with Bayer's crop science group",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe women shop at Anthropologie when it stocks the latest on-trend fashions. Thus, the chain tends to do well when it gets fashion trends right and poorly when it gets them wrong.",
    "output": "[Cause] women shop at Anthropologie when it stocks the latest on-trend fashions [Relation] cause [Effect] the chain tends to do well when it gets fashion trends right and poorly when it gets them wrong",
    "gold": "[Cause] women shop at Anthropologie when it stocks the latest on-trend fashions [Relation] cause [Effect] the chain tends to do well when it gets fashion trends right and poorly when it gets them wrong",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Income growth allows people to afford more-expensive housing, which in turn allows landlords to push higher rents onto residents who can afford those increases.",
    "output": "[Cause] Income growth [Relation] enable [Effect] landlords to push higher rents onto residents who can afford those increases",
    "gold": "[Cause] afford more-expensive housing [Relation] enable [Effect] landlords to push higher rents onto residents who can afford those increases",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In 2011, the company nearly doubled its implant revenue and established it as a major player, behind Straumann and Nobel (Danaher), through the acquisition of Astra Tech.",
    "output": "[Cause] the acquisition of Astra Tech [Relation] enable [Effect] the company nearly doubled its implant revenue and established it as a major player",
    "gold": "[Cause] the acquisition of Astra Tech [Relation] cause [Effect]  doubled its implant revenue and established it as a major player,",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While Petrobras lacks longer-term emissions targets, it plans to reduce carbon intensity through improved efficiencies, biorefining, zero routine flaring, and emissions offsets from carbon capture and storage (CCUS) as Petrobras targets re-injection of 40MM ton CO虏 by 2025.",
    "output": "[Cause] Petrobras targets re-injection of 40MM ton CO by 2025 [Relation] cause [Effect] it plans to reduce carbon intensity through improved efficiencies, biorefining, zero routine flaring, and emissions offsets from carbon capture and storage (CCUS)",
    "gold": "[Cause] Petrobras targets re-injection of 40MM ton CO虏 by 2025 [Relation] cause [Effect] it plans to reduce carbon intensity through improved efficiencies, biorefining, zero routine flaring, and emissions offsets from carbon capture and storage (CCUS)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In 2020, we forecast Eastman will see profit declines primarily due to lower volumes as a result of the COVID-19-related economic slowdown.",
    "output": "[Cause] lower volumes as a result of the COVID-19-related economic slowdown [Relation] cause [Effect] Eastman will see profit declines",
    "gold": "[Cause] lower volumes as a result of the COVID-19-related economic slowdown [Relation] cause [Effect] Eastman will see profit declines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Alibaba's marketplace monetization rates have generally been on an upward trend despite recent macro uncertainty, indicating that sellers are increasingly engaging with Alibaba's marketplaces and payment solutions, although COVID-19 and more competition will put pressure on monetization in the near to medium term.",
    "output": "[Cause] recent macro uncertainty [Relation] cause [Effect] sellers are increasingly engaging with Alibaba's marketplaces and payment solutions",
    "gold": "[Cause] sellers are increasingly engaging with Alibaba's marketplaces and payment solutions [Relation] enable [Effect] Alibaba's marketplace monetization rates have generally been on an upward trend",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the low-margin nature of the business, Bunge's profits are also sensitive to small volume changes due to the company's high fixed costs in its agribusiness operation.",
    "output": "[Cause] the low-margin nature of the business [Relation] cause [Effect] Bunge's profits are also sensitive to small volume changes",
    "gold": "[Cause]  the low-margin nature of the business [Relation] enable [Effect] Bunge's profits are also sensitive to small volume changes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the low-margin nature of the business, Bunge's profits are also sensitive to small volume changes due to the company's high fixed costs in its agribusiness operation.",
    "output": "[Cause] the company's high fixed costs in its agribusiness operation [Relation] cause [Effect] Bunge's profits are also sensitive to small volume changes",
    "gold": "[Cause] the company's high fixed costs in its agribusiness operation [Relation] cause [Effect] Bunge's profits are also sensitive to small volume changes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the short term, we think that the coronavirus outbreak will significantly affect the operating results for Pebblebrook's hotels, with double-digit revPAR declines in 2020.",
    "output": "[Cause] the coronavirus outbreak [Relation] cause [Effect] significantly affect the operating results for Pebblebrook's hotels, with double-digit revPAR declines in 2020",
    "gold": "[Cause] the coronavirus outbreak [Relation] cause [Effect] significantly affect the operating results for Pebblebrook's hotels, with double-digit revPAR declines in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the pool of suppliers grows, prospective businesses find Coupa's platform more beneficial as they have a greater variety of products to choose from.",
    "output": "[Cause] the pool of suppliers grows [Relation] cause [Effect] prospective businesses find Coupa's platform more beneficial",
    "gold": "[Cause] the pool of suppliers grows [Relation] enable [Effect] prospective businesses find Coupa's platform more beneficial",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the pool of suppliers grows, prospective businesses find Coupa's platform more beneficial as they have a greater variety of products to choose from.",
    "output": "[Cause] they have a greater variety of products to choose from [Relation] cause [Effect] prospective businesses find Coupa's platform more beneficial",
    "gold": "[Cause] Coupa's platform [Relation] enable [Effect] they have a greater variety of products to choose from",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The eventual completion of the Mountain Valley Pipeline and related efforts (Hammerhead, MVP Southgate, MVP Expansions) should boost EBITDA by 30% and increase the revenue associated with firm reservation contracts to over 70%.",
    "output": "[Cause] The eventual completion of the Mountain Valley Pipeline and related efforts [Relation] enable [Effect] boost EBITDA by 30% and increase the revenue associated with firm reservation contracts to over 70%",
    "gold": "[Cause] The eventual completion of the Mountain Valley Pipeline and related efforts [Relation] enable [Effect]  boost EBITDA by 30% and increase the revenue associated with firm reservation contracts to over 70%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But the ability to bundle homeowners and auto has allowed Progressive to broaden its demographic reach and increase its penetration among relatively affluent customers.",
    "output": "[Cause] the ability to bundle homeowners and auto [Relation] enable [Effect] Progressive to broaden its demographic reach and increase its penetration among relatively affluent customers",
    "gold": "[Cause] the ability to bundle homeowners and auto [Relation] enable [Effect] Progressive to broaden its demographic reach and increase its penetration among relatively affluent customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With improved understanding of biomarkers and new diagnostic and genetic testing, inclusion criteria for trial participants continue to become more complex.",
    "output": "[Cause] improved understanding of biomarkers and new diagnostic and genetic testing [Relation] cause [Effect] inclusion criteria for trial participants continue to become more complex",
    "gold": "[Cause] improved understanding of biomarkers and new diagnostic and genetic testing [Relation] cause [Effect] inclusion criteria for trial participants continue to become more complex",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With assets outside China making up close to 28% of oil and gas sales in 2015, CNOOC's estimated lifting costs have risen to $13.12/boe from $8.90 in 2007.",
    "output": "[Cause] assets outside China making up close to 28% of oil and gas sales in 2015 [Relation] cause [Effect] CNOOC's estimated lifting costs have risen to $13.12/boe from $8.90 in 2007",
    "gold": "[Cause] assets outside China making up close to 28% of oil and gas sales in 2015 [Relation] cause [Effect] CNOOC's estimated lifting costs have risen to $13.12/boe from $8.90 in 2007",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "HPE purchased SimpliVity in 2017 to gain exposure to software-defined hyperconverged infrastructure, and we believe the acquisition has helped HPE realize growth within nascent networking trends.",
    "output": "[Cause] HPE purchased SimpliVity in 2017 [Relation] enable [Effect] gain exposure to software-defined hyperconverged infrastructure",
    "gold": "[Cause] HPE purchased SimpliVity in 2017 [Relation] enable [Effect] gain exposure to software-defined hyperconverged infrastructure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After reviewing Wesco's first-quarter 2021 results and full-year outlook, we increased our fair value estimate about 10% to $118 per share, due to our stronger five-year outlook for revenue growth and profit margin.",
    "output": "[Cause] our stronger five-year outlook for revenue growth and profit margin [Relation] cause [Effect] we increased our fair value estimate about 10% to $118 per share",
    "gold": "[Cause]  our stronger five-year outlook for revenue growth and profit margin [Relation] cause [Effect]  we increased our fair value estimate about 10% to $118 per share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect margin benefits from mix and less-frenetic digital growth to be offset by cost deleverage and rising freight costs, leading the firm's full-year adjusted operating margin to a level near fiscal 2021's 4.1%.",
    "output": "[Cause] margin benefits from mix and less-frenetic digital growth to be offset by cost deleverage and rising freight costs [Relation] cause [Effect] the firm's full-year adjusted operating margin to a level near fiscal 2021's 4.1%",
    "gold": "[Cause] margin benefits from mix and less-frenetic digital growth to be offset by cost deleverage and rising freight costs [Relation] cause [Effect] the firm's full-year adjusted operating margin to a level near fiscal 2021's 4.1%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Google's ecosystem strengthens as its products are adopted by more users, making its online advertising services more attractive to advertisers and publishers and resulting in increased online ad revenue which we think will continue to grow at double-digit rates after the pandemic and during the next five years.",
    "output": "[Cause] Google's ecosystem strengthens [Relation] enable [Effect] its online advertising services more attractive to advertisers and publishers",
    "gold": "[Cause]  its products are adopted by more users [Relation] cause [Effect] Google's ecosystem strengthens",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Google's ecosystem strengthens as its products are adopted by more users, making its online advertising services more attractive to advertisers and publishers and resulting in increased online ad revenue which we think will continue to grow at double-digit rates after the pandemic and during the next five years.",
    "output": "[Cause] Google's ecosystem strengthens [Relation] cause [Effect] increased online ad revenue",
    "gold": "[Cause] Google's ecosystem strengthens [Relation] enable [Effect] its online advertising services more attractive to advertisers and publishers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Google's ecosystem strengthens as its products are adopted by more users, making its online advertising services more attractive to advertisers and publishers and resulting in increased online ad revenue which we think will continue to grow at double-digit rates after the pandemic and during the next five years.",
    "output": "[Cause] Google's ecosystem strengthens [Relation] cause [Effect] increased online ad revenue",
    "gold": "[Cause] its online advertising services more attractive to advertisers and publishers [Relation] cause [Effect]  increased online ad revenue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company's Sprocket printers were designed for mobile phone users to instantly print photos without using ink, and our belief is these niche products could provide a momentary boost during the holiday season.",
    "output": "[Cause] The company's Sprocket printers were designed for mobile phone users to instantly print photos without using ink [Relation] enable [Effect] provide a momentary boost during the holiday season",
    "gold": "[Cause] The company's Sprocket printers were designed for mobile phone users to instantly print photos without using ink [Relation] enable [Effect] provide a momentary boost during the holiday season",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, with moderate growth from its branded generic products in emerging markets and new launching products, particularly Mavenclad (MS) and Bavencio (cancer), we expect the healthcare segment to grow in the midsingle digits annually during the next five years.",
    "output": "[Cause] moderate growth from its branded generic products in emerging markets and new launching products, particularly Mavenclad (MS) and Bavencio (cancer) [Relation] enable [Effect] the healthcare segment to grow in the midsingle digits annually during the next five years",
    "gold": "[Cause] with moderate growth from its branded generic products in emerging markets and new launching products [Relation] enable [Effect]  the healthcare segment to grow in the midsingle digits annually during the next five years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In 2021 and beyond, we forecast declining steel prices, driven by our bearish outlook for Chinese fixed-asset investment and the persistence of structural overcapacity on a global basis.",
    "output": "[Cause] our bearish outlook for Chinese fixed-asset investment and the persistence of structural overcapacity on a global basis [Relation] cause [Effect] declining steel prices",
    "gold": "[Cause] our bearish outlook for Chinese fixed-asset investment and the persistence of structural overcapacity on a global basis [Relation] cause [Effect] declining steel prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the strong track record of incumbents, corporate management teams are unlikely to find much value in investing the time and resources with another ratings provider.",
    "output": "[Cause] the strong track record of incumbents [Relation] cause [Effect] corporate management teams are unlikely to find much value in investing the time and resources with another ratings provider",
    "gold": "[Cause]  the strong track record of incumbents [Relation] cause [Effect]  corporate management teams are unlikely to find much value in investing the time and resources with another ratings provider",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, the IP portfolio complements Cadence's EDA offerings as it gives rise to cross-selling; the firm's IP products facilitate sales of EDA tools and vice versa.",
    "output": "[Cause] it gives rise to cross-selling [Relation] cause [Effect] the IP portfolio complements Cadence's EDA offerings",
    "gold": "[Cause]  it gives rise to cross-selling [Relation] cause [Effect] the IP portfolio complements Cadence's EDA offerings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our 16.7% midcycle assumption represents a 100-basis-point expansion compared with the 10-year median due to the increasing mix of software-oriented technologies in Aptiv's product portfolio.",
    "output": "[Cause] the increasing mix of software-oriented technologies in Aptiv's product portfolio [Relation] cause [Effect] Our 16.7% midcycle assumption represents a 100-basis-point expansion compared with the 10-year median",
    "gold": "[Cause]  the increasing mix of software-oriented technologies in Aptiv's product portfolio [Relation] cause [Effect] Our 16.7% midcycle assumption represents a 100-basis-point expansion compared with the 10-year median",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the latter, the proliferation of mobile devices and the attendant improvements in processing power have been well documented, as have various normative shifts in workplace culture such as bring-your-own-device policies. These factors have resulted in a world where employees expect to be able to access corporate networks and resources regardless of the device they are using or their location.",
    "output": "[Cause] the proliferation of mobile devices and the attendant improvements in processing power have been well documented, as have various normative shifts in workplace culture such as bring-your-own-device policies [Relation] cause [Effect] a world where employees expect to be able to access corporate networks and resources regardless of the device they are using or their location",
    "gold": "[Cause] the proliferation of mobile devices and the attendant improvements in processing power have been well documented, as have various normative shifts in workplace culture such as bring-your-own-device policies [Relation] cause [Effect] a world where employees expect to be able to access corporate networks and resources regardless of the device they are using or their location",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Inherent operating leverage, in conjunction with nontrivial merger synergies and a proven management team, should also beget healthy margin expansion throughout our explicit forecast.",
    "output": "[Cause] Inherent operating leverage, in conjunction with nontrivial merger synergies and a proven management team [Relation] enable [Effect] beget healthy margin expansion throughout our explicit forecast",
    "gold": "[Cause] our explicit forecast [Relation] enable [Effect] Inherent operating leverage, in conjunction with nontrivial merger synergies and a proven management team, should also beget healthy margin expansion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With management having significantly reshaped the franchise, now running an increasingly lean operation, the bank is finally showing its true earnings power.",
    "output": "[Cause] management having significantly reshaped the franchise, now running an increasingly lean operation [Relation] enable [Effect] the bank is finally showing its true earnings power",
    "gold": "[Cause] management having significantly reshaped the franchise [Relation] cause [Effect] he bank is finally showing its true earnings power.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The complexities of breeding and transporting genetically modified models results in high barriers to entry and it can charge premium pricing.",
    "output": "[Cause] The complexities of breeding and transporting genetically modified models [Relation] cause [Effect] high barriers to entry and it can charge premium pricing",
    "gold": "[Cause] The complexities of breeding and transporting genetically modified models [Relation] cause [Effect]  high barriers to entry and it can charge premium pricing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Capital spending as a percentage of sales has been 10% or less each of the last five years and is generally declining, as equipment pricing is often deflationary. This advantage has led to a relatively low invested capital base, especially since the accounting lives (for depreciation purposes) of many assets are shorter than the actual useful lives.",
    "output": "[Cause] Capital spending as a percentage of sales has been 10% or less each of the last five years and is generally declining, as equipment pricing is often deflationary [Relation] cause [Effect] a relatively low invested capital base, especially since the accounting lives (for depreciation purposes) of many assets are shorter than the actual useful lives",
    "gold": "[Cause] Capital spending as a percentage of sales has been 10% or less each of the last five years and is generally declining, as equipment pricing is often deflationary [Relation] cause [Effect] a relatively low invested capital base, especially since the accounting lives (for depreciation purposes) of many assets are shorter than the actual useful lives",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, since there are only two major suppliers of commercial aircraft, airlines are generally hesitant to destroy a relationship with an essential supplier.",
    "output": "[Cause] there are only two major suppliers of commercial aircraft [Relation] cause [Effect] airlines are generally hesitant to destroy a relationship with an essential supplier",
    "gold": "[Cause]  there are only two major suppliers of commercial aircraft [Relation] cause [Effect] airlines are generally hesitant to destroy a relationship with an essential supplier",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Growth may slow in fiscal 2023 on tough comparisons and a potenital downshift in consumer goods spending, but we don't expect a material pullback.",
    "output": "[Cause] tough comparisons and a potenital downshift in consumer goods spending [Relation] cause [Effect] Growth may slow in fiscal 2023",
    "gold": "[Cause] tough comparisons and a potenital downshift in consumer goods spending [Relation] cause [Effect] Growth may slow in fiscal 2023",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we do not expect its EBIT to increase by a large magnitude, as it remains affected by the challenging environment in the steel industry.",
    "output": "[Cause] it remains affected by the challenging environment in the steel industry [Relation] cause [Effect] we do not expect its EBIT to increase by a large magnitude",
    "gold": "[Cause] it remains affected by the challenging environment in the steel industry [Relation] cause [Effect] we do not expect its EBIT to increase by a large magnitude",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fastenal uses a captive fleet of large trucks and smaller vehicles to more efficiently and cost-effectively move its inventory across the United States.",
    "output": "[Cause] Fastenal uses a captive fleet of large trucks and smaller vehicles [Relation] enable [Effect] more efficiently and cost-effectively move its inventory across the United States",
    "gold": "[Cause] Fastenal uses a captive fleet of large trucks and smaller vehicles [Relation] enable [Effect] more efficiently and cost-effectively move its inventory across the United States",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast operating margins of 18% in 2021, an increase of 150 basis points, as a rebound in manufacturing activity combined with a lower cost base translate into higher profits.",
    "output": "[Cause] a rebound in manufacturing activity combined with a lower cost base translate into higher profits [Relation] cause [Effect] operating margins of 18% in 2021, an increase of 150 basis points",
    "gold": "[Cause] a rebound in manufacturing activity combined with a lower cost base translate into higher profits [Relation] cause [Effect] operating margins of 18% in 2021, an increase of 150 basis points",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, the popularity of licensed brands--typically, a brand related to a fashion house or celebrity--ebbs and flows with the popularity of that fashion house or celebrity, depending on fashion cycles, the designer's ability to correctly predict fashion trends, and celebrities' career trajectories.",
    "output": "[Cause] fashion cycles, the designer's ability to correctly predict fashion trends, and celebrities' career trajectories [Relation] cause [Effect] the popularity of licensed brands--typically, a brand related to a fashion house or celebrity--ebbs and flows with the popularity of that fashion house or celebrity",
    "gold": "[Cause] fashion cycles, the designer's ability to correctly predict fashion trends, and celebrities' career trajectories [Relation] cause [Effect] the popularity of licensed brands--typically, a brand related to a fashion house or celebrity--ebbs and flows with the popularity of that fashion house or celebrity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Travelers are drawn to Wyndham's loyalty program, as it provides the ability to use and accumulate points across over 804,000 hotel rooms and over 20,000 Wyndham timeshare and rentals (the most of any hotelier; Accor is number two with around 10,000 vacation rental rooms).",
    "output": "[Cause] it provides the ability to use and accumulate points across over 804,000 hotel rooms and over 20,000 Wyndham timeshare and rentals [Relation] cause [Effect] Travelers are drawn to Wyndham's loyalty program",
    "gold": "[Cause] it provides the ability to use and accumulate points across over 804,000 hotel rooms and over 20,000 Wyndham timeshare and rentals [Relation] cause [Effect] Travelers are drawn to Wyndham's loyalty program",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "An OEM or Tier 1 supplier would face prohibitively high switching costs if it wanted to prematurely end its contract with Amphenol in the middle of a product cycle.",
    "output": "[Cause] it wanted to prematurely end its contract with Amphenol in the middle of a product cycle [Relation] cause [Effect] An OEM or Tier 1 supplier would face prohibitively high switching costs",
    "gold": "[Cause]  it wanted to prematurely end its contract with Amphenol in the middle of a product cycle [Relation] cause [Effect] An OEM or Tier 1 supplier would face prohibitively high switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Bio-Rad does not have a clear pricing position (either higher or lower), and we see the lack of pricing premium as further evidence of limited differentiation in digital PCR.",
    "output": "[Cause] further evidence of limited differentiation in digital PCR [Relation] cause [Effect] the lack of pricing premium",
    "gold": "[Cause] further evidence of limited differentiation in digital PCR [Relation] cause [Effect] the lack of pricing premium",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Behind this, the pandemic has accelerated the broader e-commerce shift, pulling forward years of B2C package growth and driving up residential deliveries for ground.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] accelerated the broader e-commerce shift",
    "gold": "[Cause]  the pandemic has accelerated the broader e-commerce shift [Relation] enable [Effect]  pulling forward years of B2C package growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Behind this, the pandemic has accelerated the broader e-commerce shift, pulling forward years of B2C package growth and driving up residential deliveries for ground.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] accelerated the broader e-commerce shift",
    "gold": "[Cause] the pandemic has accelerated the broader e-commerce shift [Relation] enable [Effect] driving up residential deliveries for ground",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Ferguson has also consistently grown organic revenue above the market's rate of growth due to more customer wins, higher proportion of own brand sales, and more cross-selling opportunities with professional contractors as Ferguson expands its footprint and product offering.",
    "output": "[Cause] more customer wins, higher proportion of own brand sales, and more cross-selling opportunities with professional contractors as Ferguson expands its footprint and product offering [Relation] cause [Effect] Ferguson has also consistently grown organic revenue above the market's rate of growth",
    "gold": "[Cause] Ferguson has also consistently grown organic revenue above the market's rate of growth [Relation] cause [Effect] more customer wins, higher proportion of own brand sales, and more cross-selling opportunities with professional contractors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For example, when Brazil's macroeconomic environment deteriorated over the recent past, consumers traded down and pulled back on product usage--which resulted in using fewer diapers per day--as a way to rein in spending.",
    "output": "[Cause] Brazil's macroeconomic environment deteriorated over the recent past, consumers traded down and pulled back on product usage [Relation] cause [Effect] using fewer diapers per day--as a way to rein in spending",
    "gold": "[Cause] Brazil's macroeconomic environment deteriorated over the recent past, consumers traded down and pulled back on product usage [Relation] cause [Effect]  using fewer diapers per day--as a way to rein in spending",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Parker's distributors help the company reach its various end markets with their highly technical level of expertise, with some customer relationships lasting for years.",
    "output": "[Cause] Parker's distributors [Relation] enable [Effect] the company reach its various end markets",
    "gold": "[Cause] their highly technical level of expertise [Relation] cause [Effect] Parker's distributors help the company reach its various end markets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Parker's distributors help the company reach its various end markets with their highly technical level of expertise, with some customer relationships lasting for years.",
    "output": "[Cause] Parker's distributors [Relation] enable [Effect] the company reach its various end markets",
    "gold": "[Cause] Parker's distributors help the company reach its various end markets [Relation] cause [Effect] some customer relationships lasting for years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we don't believe the company is insulated from the proliferation of e-commerce peers such as Wayfair pushing harder into the home furnishing space, which bounds our five-year outlook to $9 billion in sales and a 14% operating margin.",
    "output": "[Cause] we don't believe the company is insulated from the proliferation of e-commerce peers such as Wayfair pushing harder into the home furnishing space [Relation] cause [Effect] bounds our five-year outlook to $9 billion in sales and a 14% operating margin",
    "gold": "[Cause]  we don't believe the company is insulated from the proliferation of e-commerce peers such as Wayfair pushing harder into the home furnishing space [Relation] cause [Effect]  bounds our five-year outlook to $9 billion in sales and a 14% operating margin",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect HPC intensity to increase over time as clean fuel standards continue to tighten around the world for particles such as sulfur and lead.",
    "output": "[Cause] clean fuel standards continue to tighten around the world for particles such as sulfur and lead [Relation] cause [Effect] HPC intensity to increase over time",
    "gold": "[Cause] clean fuel standards continue to tighten around the world for particles such as sulfur and lead [Relation] cause [Effect] HPC intensity to increase over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cost Advantage  Diageo can produce its scale brands at a lower average cost than most of its competitors as well as potential new entrants.",
    "output": "[Cause] Cost Advantage Diageo can produce its scale brands at a lower average cost than most of its competitors as well as potential new entrants [Relation] enable [Effect] Cost Advantage Diageo",
    "gold": "[Cause] Cost Advantage [Relation] cause [Effect] Diageo can produce its scale brands at a lower average cost than most of its competitors as well as potential new entrants",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Slack's software is more advanced, however, as the platform ties together a variety of collaboration point solutions, including chat, voice calling, video calling, conference calling, and file sharing.",
    "output": "[Cause] the platform ties together a variety of collaboration point solutions, including chat, voice calling, video calling, conference calling, and file sharing [Relation] cause [Effect] Slack's software is more advanced",
    "gold": "[Cause] the platform ties together a variety of collaboration point solutions, including chat, voice calling, video calling, conference calling, and file sharing [Relation] cause [Effect] Slack's software is more advanced",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The effects should be relatively moderate, considering Sprouts' limited assortments in key pandemic-charged categories like household cleaning supplies, with expected low-single-digit comparable growth in the fourth quarter leading to roughly 7% expansion for the year.",
    "output": "[Cause] considering Sprouts' limited assortments in key pandemic-charged categories like household cleaning supplies [Relation] cause [Effect] The effects should be relatively moderate",
    "gold": "[Cause] considering Sprouts' limited assortments in key pandemic-charged categories like household cleaning supplies, with expected low-single-digit comparable growth in the fourth quarter [Relation] cause [Effect] roughly 7% expansion for the year",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The effects should be relatively moderate, considering Sprouts' limited assortments in key pandemic-charged categories like household cleaning supplies, with expected low-single-digit comparable growth in the fourth quarter leading to roughly 7% expansion for the year.",
    "output": "[Cause] expected low-single-digit comparable growth in the fourth quarter [Relation] cause [Effect] roughly 7% expansion for the year",
    "gold": "[Cause] roughly 7% expansion for the year [Relation] cause [Effect] The effects should be relatively moderate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect the main driver for Enterprise will be its petrochemicals segment, as the demand pull from international markets for a variety of industrial applications lets Enterprise take advantage of the export opportunities and lucrative differentials via its comprehensive asset base.",
    "output": "[Cause] the demand pull from international markets for a variety of industrial applications lets Enterprise take advantage of the export opportunities and lucrative differentials via its comprehensive asset base [Relation] cause [Effect] the main driver for Enterprise will be its petrochemicals segment",
    "gold": "[Cause] the demand pull from international markets for a variety of industrial applications lets Enterprise take advantage of the export opportunities and lucrative differentials via its comprehensive asset base [Relation] cause [Effect] the main driver for Enterprise will be its petrochemicals segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This business segment will likely continue to benefit from stay-at-home and remote work trends amid the coronavirus pandemic, as PC and tablet demand increased significantly in China.",
    "output": "[Cause] PC and tablet demand increased significantly in China [Relation] cause [Effect] This business segment will likely continue to benefit from stay-at-home and remote work trends amid the coronavirus pandemic",
    "gold": "[Cause]  PC and tablet demand increased significantly in China [Relation] cause [Effect] This business segment will likely continue to benefit from stay-at-home and remote work trends amid the coronavirus pandemic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the complexity of the ACA and its reporting requirements, it has created additional revenue opportunities for payroll service providers.",
    "output": "[Cause] the complexity of the ACA and its reporting requirements [Relation] cause [Effect] it has created additional revenue opportunities for payroll service providers",
    "gold": "[Cause] the complexity of the ACA and its reporting requirements [Relation] enable [Effect] it has created additional revenue opportunities for payroll service providers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, this consolidation of purchasing power helps CVS extract discounts from drug manufacturers on one end of the transaction and pharmacies on the other end of the transaction, which helps create value for its clients such as insurance plans and employers on their pharmacy cost trends.",
    "output": "[Cause] this consolidation of purchasing power [Relation] enable [Effect] CVS extract discounts from drug manufacturers on one end of the transaction and pharmacies on the other end of the transaction, which helps create value for its clients such as insurance plans and employers on their pharmacy cost trends",
    "gold": "[Cause] this consolidation of purchasing power [Relation] enable [Effect] CVS extract discounts from drug manufacturers on one end of the transaction and pharmacies on the other end of the transaction, which helps create value for its clients such as insurance plans and employers on their pharmacy cost trends",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While industrial real estate typically features multiyear commitments for space, much of cold storage space is rented on an as-needed basis, adding some risk but also allowing pricing to recalibrate more quickly.",
    "output": "[Cause] much of cold storage space is rented on an as-needed basis [Relation] enable [Effect] adding some risk but also allowing pricing to recalibrate more quickly",
    "gold": "[Cause]  much of cold storage space is rented on an as-needed basis [Relation] cause [Effect] adding some risk but also allowing pricing to recalibrate more quickly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we will likely see a slight pause in the commoditization of supply chain services with the increased reliance of supply chain partners, longer term we anticipate margins to continue to slide.",
    "output": "[Cause] the increased reliance of supply chain partners [Relation] cause [Effect] a slight pause in the commoditization of supply chain services",
    "gold": "[Cause] the increased reliance of supply chain partners [Relation] cause [Effect]  a slight pause in the commoditization of supply chain services",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The risk from carbon emissions is most likely to materialize through a carbon tax that increases the price of end products to consumers, reducing demand over time and threatening Exxon's core business.",
    "output": "[Cause] a carbon tax [Relation] cause [Effect] increases the price of end products to consumers, reducing demand over time and threatening Exxon's core business",
    "gold": "[Cause] a carbon tax [Relation] enable [Effect] increases the price of end products to consumers, reducing demand over time and threatening Exxon's core business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Regions also boasts one of the more advantaged deposit bases under our coverage, and the bank's focus on improving operational efficiency has paid dividends, as the bank has managed to keep its expense base relatively stable for years now.",
    "output": "[Cause] the bank has managed to keep its expense base relatively stable for years now [Relation] cause [Effect] the bank's focus on improving operational efficiency has paid dividends",
    "gold": "[Cause] the bank has managed to keep its expense base relatively stable for years now [Relation] cause [Effect] the bank's focus on improving operational efficiency has paid dividends",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We suspect Google is using YouTube TV to increase its ability to serve advertisers by expanding its presence in the traditional television ad market.",
    "output": "[Cause] expanding its presence in the traditional television ad market [Relation] enable [Effect] Google is using YouTube TV to increase its ability to serve advertisers",
    "gold": "[Cause] expanding its presence in the traditional television ad market [Relation] enable [Effect] Google is using YouTube TV to increase its ability to serve advertisers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Unlike equity shares, derivatives have greater counterparty risk. Therefore, the exchange's clearinghouse must stand between the buyer and seller in order to limit the risk of a counterparty failing to fulfill its end of the contract by default.",
    "output": "[Cause] Unlike equity shares, derivatives have greater counterparty risk [Relation] cause [Effect] the exchange's clearinghouse must stand between the buyer and seller in order to limit the risk of a counterparty failing to fulfill its end of the contract by default",
    "gold": "[Cause] Unlike equity shares, derivatives have greater counterparty risk [Relation] cause [Effect] the exchange's clearinghouse must stand between the buyer and seller in order to limit the risk of a counterparty failing to fulfill its end of the contract by default",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, because of its dependence on commoditized products and the strength of competitors in the more differentiated areas the firm is pursuing, we assign ON Semiconductor a high uncertainty rating.",
    "output": "[Cause] its dependence on commoditized products and the strength of competitors in the more differentiated areas the firm is pursuing [Relation] cause [Effect] we assign ON Semiconductor a high uncertainty rating",
    "gold": "[Cause]  its dependence on commoditized products and the strength of competitors in the more differentiated areas the firm is pursuing [Relation] cause [Effect] we assign ON Semiconductor a high uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It is possible that either these deals become larger or the company makes a more transformative acquisition, which we think would heighten the risk profile of the company.",
    "output": "[Cause] either these deals become larger or the company makes a more transformative acquisition [Relation] cause [Effect] heighten the risk profile of the company",
    "gold": "[Cause] either these deals become larger or the company makes a more transformative acquisition [Relation] cause [Effect] heighten the risk profile of the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we believe GTT realizes synergies as it brings smaller networks into a global one, we don't think it makes up for only modest industry growth and lack of sustainable competitive advantages.",
    "output": "[Cause] it brings smaller networks into a global one [Relation] cause [Effect] GTT realizes synergies",
    "gold": "[Cause] it brings smaller networks into a global one [Relation] enable [Effect] GTT realizes synergies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Global operations and partnerships with national oil companies expose the company to the threat that governments could expropriate assets or modify contract terms.",
    "output": "[Cause] Global operations and partnerships with national oil companies [Relation] cause [Effect] expose the company to the threat that governments could expropriate assets or modify contract terms",
    "gold": "[Cause] Global operations and partnerships with national oil companies [Relation] cause [Effect] the company to the threat that governments could expropriate assets or modify contract terms.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Blockbuster movies tend to earn the majority of their box office within the first month of release, and so the ability to convert a film and release it at the same time as the standard version is very important.",
    "output": "[Cause] Blockbuster movies tend to earn the majority of their box office within the first month of release [Relation] cause [Effect] the ability to convert a film and release it at the same time as the standard version is very important",
    "gold": "[Cause] the ability to convert a film and release it at the same time as the standard version is very important [Relation] cause [Effect] Blockbuster movies tend to earn the majority of their box office within the first month of release",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, Capital One's cost efficiency is driven by its large scale and small physical footprint relative to its size.",
    "output": "[Cause] its large scale and small physical footprint relative to its size [Relation] enable [Effect] Capital One's cost efficiency",
    "gold": "[Cause] its large scale and small physical footprint relative to its size [Relation] enable [Effect] Capital One's cost efficiency",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With its large installed base of sequencers, Illumina should be able to count on significant revenue streams from related consumables going forward.",
    "output": "[Cause] its large installed base of sequencers [Relation] enable [Effect] Illumina should be able to count on significant revenue streams from related consumables going forward",
    "gold": "[Cause] its large installed base of sequencers [Relation] enable [Effect] Illumina should be able to count on significant revenue streams from related consumables going forward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through continuous innovations, Progressive has built a data edge that has at times given it a leg up on other competitors.",
    "output": "[Cause] Progressive has built a data edge [Relation] enable [Effect] at times given it a leg up on other competitors",
    "gold": "[Cause] Through continuous innovations [Relation] cause [Effect] Progressive has built a data edge",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "On the positive side, increased focus on GHG emissions from power generation could improve the attractiveness for zero-carbon nuclear power.",
    "output": "[Cause] increased focus on GHG emissions from power generation [Relation] enable [Effect] improve the attractiveness for zero-carbon nuclear power",
    "gold": "[Cause] increased focus on GHG emissions from power generation [Relation] enable [Effect]  improve the attractiveness for zero-carbon nuclear power",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If regulatory changes result in more demand for validated proteins, Bio-Techne could benefit initially from its current high-quality position but could face longer-term challenges to market share if competitors can credibly claim their proteins meet minimum regulatory requirements.",
    "output": "[Cause] regulatory changes result in more demand for validated proteins [Relation] cause [Effect] Bio-Techne could benefit initially from its current high-quality position",
    "gold": "[Cause] competitors can credibly claim their proteins meet minimum regulatory requirements [Relation] cause [Effect] face longer-term challenges to market share",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If regulatory changes result in more demand for validated proteins, Bio-Techne could benefit initially from its current high-quality position but could face longer-term challenges to market share if competitors can credibly claim their proteins meet minimum regulatory requirements.",
    "output": "[Cause] competitors can credibly claim their proteins meet minimum regulatory requirements [Relation] cause [Effect] face longer-term challenges to market share",
    "gold": "[Cause] regulatory changes result in more demand for validated proteins [Relation] cause [Effect] Bio-Techne could benefit initially from its current high-quality position",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Large dealers like AutoNation are enjoying an increasing competitive advantage for repair work because most automakers require warranty work to be done at a dealer.",
    "output": "[Cause] most automakers require warranty work to be done at a dealer [Relation] cause [Effect] Large dealers like AutoNation are enjoying an increasing competitive advantage for repair work",
    "gold": "[Cause] most automakers require warranty work to be done at a dealer [Relation] cause [Effect] Large dealers like AutoNation are enjoying an increasing competitive advantage for repair work",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Demand for these types of assets will remain strong as patients seek the best treatments from the top health systems, driving consistent patient volumes to their affiliated assets and thus increasing the rents that can be charged to doctors' groups that want to service these patients.",
    "output": "[Cause] Demand for these types of assets will remain strong [Relation] cause [Effect] driving consistent patient volumes to their affiliated assets",
    "gold": "[Cause] patients seek the best treatments from the top health systems [Relation] cause [Effect] Demand for these types of assets will remain strong",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Demand for these types of assets will remain strong as patients seek the best treatments from the top health systems, driving consistent patient volumes to their affiliated assets and thus increasing the rents that can be charged to doctors' groups that want to service these patients.",
    "output": "[Cause] Demand for these types of assets will remain strong [Relation] cause [Effect] increasing the rents that can be charged to doctors' groups that want to service these patients",
    "gold": "[Cause] Demand for these types of assets will remain strong [Relation] cause [Effect] driving consistent patient volumes to their affiliated assets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Demand for these types of assets will remain strong as patients seek the best treatments from the top health systems, driving consistent patient volumes to their affiliated assets and thus increasing the rents that can be charged to doctors' groups that want to service these patients.",
    "output": "[Cause] Demand for these types of assets will remain strong [Relation] cause [Effect] increasing the rents that can be charged to doctors' groups that want to service these patients",
    "gold": "[Cause] driving consistent patient volumes to their affiliated assets [Relation] cause [Effect] increasing the rents that can be charged to doctors' groups that want to service these patients",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "CVS' top-tier retail pharmacy, health insurer, and PBM franchises create the potential to improve health outcomes and even bend the healthcare cost curve for its members.",
    "output": "[Cause] CVS' top-tier retail pharmacy, health insurer, and PBM franchises [Relation] enable [Effect] the potential to improve health outcomes and even bend the healthcare cost curve for its members",
    "gold": "[Cause] CVS' top-tier retail pharmacy, health insurer, and PBM franchises [Relation] enable [Effect] the potential to improve health outcomes and even bend the healthcare cost curve for its members",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In a data center, a power surge against an unprotected power supply would lead to downtime for an enterprise's systems or an entire portion of a public cloud.",
    "output": "[Cause] a power surge against an unprotected power supply [Relation] cause [Effect] downtime for an enterprise's systems or an entire portion of a public cloud",
    "gold": "[Cause] a power surge against an unprotected power supply [Relation] cause [Effect] downtime for an enterprise's systems or an entire portion of a public cloud",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the series plans to switch to new engines and \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"fully sustainable fuels\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" in 2025, Formula One can't mandate a fully electric engine as the Formula E series holds the exclusive rights until 2039.",
    "output": "[Cause] the Formula E series holds the exclusive rights until 2039 [Relation] cause [Effect] Formula One can't mandate a fully electric engine",
    "gold": "[Cause] the Formula E series holds the exclusive rights until 2039 [Relation] cause [Effect] Formula One can't mandate a fully electric engine",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, Hunt's total revenue grew 5% in 2020 despite the pandemic, thanks to a strong rebound in demand and pricing for the trucking and highway brokerage divisions, and acquisitions on the final mile unit.",
    "output": "[Cause] a strong rebound in demand and pricing for the trucking and highway brokerage divisions, and acquisitions on the final mile unit [Relation] cause [Effect] Hunt's total revenue grew 5% in 2020",
    "gold": "[Cause] a strong rebound in demand and pricing for the trucking and highway brokerage divisions, and acquisitions on the final mile unit [Relation] enable [Effect] Hunt's total revenue grew 5% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, Hunt's total revenue grew 5% in 2020 despite the pandemic, thanks to a strong rebound in demand and pricing for the trucking and highway brokerage divisions, and acquisitions on the final mile unit.",
    "output": "[Cause] a strong rebound in demand and pricing for the trucking and highway brokerage divisions, and acquisitions on the final mile unit [Relation] cause [Effect] Hunt's total revenue grew 5% in 2020",
    "gold": "[Cause] the pandemic [Relation] prevent [Effect] Hunt's total revenue grew 5% in 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With wide distribution globally, this library creates a virtuous cycle: video platforms like traditional cable companies, online distributors, and theater chains have an incentive to work with WarnerMedia, which attracts strong content creators seeking as large an audience as possible.",
    "output": "[Cause] wide distribution globally [Relation] cause [Effect] this library creates a virtuous cycle",
    "gold": "[Cause] wide distribution globally [Relation] enable [Effect] this library creates a virtuous cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With wide distribution globally, this library creates a virtuous cycle: video platforms like traditional cable companies, online distributors, and theater chains have an incentive to work with WarnerMedia, which attracts strong content creators seeking as large an audience as possible.",
    "output": "[Cause] video platforms like traditional cable companies, online distributors, and theater chains have an incentive to work with WarnerMedia [Relation] enable [Effect] attracts strong content creators seeking as large an audience as possible",
    "gold": "[Cause] video platforms like traditional cable companies, online distributors, and theater chains have an incentive to work with WarnerMedia [Relation] cause [Effect] attracts strong content creators seeking as large an audience as possible",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While current and future competitors such as Amazon and Internet access providers could create similar databases, Netflix's data set is and will remain significantly larger due to the size advantage of its subscriber base and the amount of time spent on the service.",
    "output": "[Cause] the size advantage of its subscriber base and the amount of time spent on the service [Relation] cause [Effect] Netflix's data set is and will remain significantly larger",
    "gold": "[Cause] the size advantage of its subscriber base and the amount of time spent on the service [Relation] enable [Effect] Netflix's data set is and will remain significantly larger",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Already the largest provider in the U.S., Netflix expanded rapidly into markets abroad as the service now has more subscribers outside of the U.S.",
    "output": "[Cause] the service now has more subscribers outside of the U.S [Relation] cause [Effect] Netflix expanded rapidly into markets abroad",
    "gold": "[Cause] the service now has more subscribers outside of the U.S [Relation] enable [Effect] Netflix expanded rapidly into markets abroad",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At a lower cost, genome sequencing could have wide appeal in clinical diagnostic applications, especially in oncology and reproductive health.",
    "output": "[Cause] genome sequencing [Relation] enable [Effect] wide appeal in clinical diagnostic applications",
    "gold": "[Cause] At a lower cost [Relation] enable [Effect] genome sequencing could have wide appeal in clinical diagnostic applications",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We remain encouraged with Texas Instruments' relentless focus on higher-margin analog and embedded chips, and when combined with smart operational moves on the manufacturing front, we foresee robust profitability and free cash flow generation in the years ahead.",
    "output": "[Cause] Texas Instruments' relentless focus on higher-margin analog and embedded chips [Relation] cause [Effect] We remain encouraged",
    "gold": "[Cause] Texas Instruments' relentless focus on higher-margin analog and embedded chips [Relation] enable [Effect] We remain encouraged",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We remain encouraged with Texas Instruments' relentless focus on higher-margin analog and embedded chips, and when combined with smart operational moves on the manufacturing front, we foresee robust profitability and free cash flow generation in the years ahead.",
    "output": "[Cause] combined with smart operational moves on the manufacturing front [Relation] enable [Effect] robust profitability and free cash flow generation in the years ahead",
    "gold": "[Cause] combined with smart operational moves on the manufacturing front [Relation] enable [Effect] robust profitability and free cash flow generation in the years ahead",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We model cable margins to expand a bit from 2019 levels after contracting in 2020, largely due to a greater shift toward the IP-based Ignite TV offering, but we expect most Ignite savings will show up in lower capital expenditures rather than operating expenses.",
    "output": "[Cause] a greater shift toward the IP-based Ignite TV offering [Relation] cause [Effect] cable margins to expand a bit from 2019 levels after contracting in 2020",
    "gold": "[Cause] a greater shift toward the IP-based Ignite TV offering [Relation] cause [Effect] cable margins to expand a bit from 2019 levels after contracting in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the Polish fixed-line market is highly fragmented (seven competitors) with some fixed infrastructure duplicated, which makes it more challenging to generate excess returns on invested capital.",
    "output": "[Cause] the Polish fixed-line market is highly fragmented (seven competitors) with some fixed infrastructure duplicated [Relation] cause [Effect] more challenging to generate excess returns on invested capital",
    "gold": "[Cause] the Polish fixed-line market is highly fragmented (seven competitors) with some fixed infrastructure duplicated [Relation] cause [Effect] more challenging to generate excess returns on invested capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We contend that these above factors, supported by Malibu's four boat manufacturing locations and two supplemental trailer and parts production locations, now with additional facilities from the Maverick acquisition, give Malibu an advantage over new competitors that would struggle to achieve that efficiency and infrastructure quickly.",
    "output": "[Cause] these above factors, supported by Malibu's four boat manufacturing locations and two supplemental trailer and parts production locations, now with additional facilities from the Maverick acquisition [Relation] enable [Effect] Malibu an advantage over new competitors that would struggle to achieve that efficiency and infrastructure quickly",
    "gold": "[Cause] these above factors, supported by Malibu's four boat manufacturing locations and two supplemental trailer and parts production locations, now with additional facilities from the Maverick acquisition [Relation] enable [Effect]  Malibu an advantage over new competitors that would struggle to achieve that efficiency and infrastructure quickly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nestle reports in Swiss francs, but less than 2% of its revenue is generated in Switzerland. This creates significant translational currency risk, and reported earnings and cash flows are sensitive to a strengthening of the franc.",
    "output": "[Cause] Nestle reports in Swiss francs, but less than 2% of its revenue is generated in Switzerland [Relation] cause [Effect] significant translational currency risk, and reported earnings and cash flows are sensitive to a strengthening of the franc",
    "gold": "[Cause] Nestle reports in Swiss francs, but less than 2% of its revenue is generated in Switzerland [Relation] cause [Effect]  significant translational currency risk, and reported earnings and cash flows are sensitive to a strengthening of the franc",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also see technology advancements in AWS and a bigger push to service enterprise customers as helping to sustain the company's lead there.",
    "output": "[Cause] technology advancements in AWS and a bigger push to service enterprise customers [Relation] enable [Effect] sustain the company's lead there",
    "gold": "[Cause] technology advancements in AWS and a bigger push to service enterprise customers [Relation] enable [Effect] sustain the company's lead there",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Reliability can be a competitive advantage for vendors with a record of timely delivery and consistent quality, as this reduces retailers' supply chain risk.",
    "output": "[Cause] this reduces retailers' supply chain risk [Relation] cause [Effect] Reliability can be a competitive advantage for vendors with a record of timely delivery and consistent quality",
    "gold": "[Cause]  this reduces retailers' supply chain risk [Relation] cause [Effect] Reliability can be a competitive advantage for vendors with a record of timely delivery and consistent quality",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the brand is more of a premium brand in Europe and Asia than in North America, allowing for reduced discounting and higher average unit retail.",
    "output": "[Cause] the brand is more of a premium brand in Europe and Asia than in North America [Relation] enable [Effect] reduced discounting and higher average unit retail",
    "gold": "[Cause] allowing for reduced discounting and higher average unit retail [Relation] cause [Effect] We think the brand is more of a premium brand in Europe and Asia than in North America",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Mastercard's global market share for credit and debit cards has been estimated at 29% and 24%, respectively, a level that dwarfs competitors outside of Visa.",
    "output": "[Cause] Mastercard's global market share for credit and debit cards has been estimated at 29% and 24% [Relation] cause [Effect] dwarfs competitors outside of Visa",
    "gold": "[Cause] Mastercard's global market share for credit and debit cards has been estimated at 29% and 24% [Relation] cause [Effect] dwarfs competitors outside of Visa",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even so, global expansion of the Jeep, Maserati, and Alfa Romeo brands, as well as further development of the Ram brand, richens the product mix and bolsters operating leverage.",
    "output": "[Cause] global expansion of the Jeep, Maserati, and Alfa Romeo brands, as well as further development of the Ram brand [Relation] enable [Effect] richens the product mix and bolsters operating leverage",
    "gold": "[Cause] global expansion of the Jeep, Maserati, and Alfa Romeo brands, as well as further development of the Ram brand [Relation] enable [Effect] richens the product mix and bolsters operating leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management has stated that if it wants to launch a product, it typically must discontinue a product to provide shelf space for the new entrant.",
    "output": "[Cause] discontinue a product [Relation] enable [Effect] provide shelf space for the new entrant",
    "gold": "[Cause] discontinue a product to provide shelf space for the new entrant [Relation] enable [Effect] launch a product",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Using Equinix data centers, organizations can directly connect their own equipment with multiple cloud providers, resulting in reduced latency and superior security and making the data center a draw for both sides.",
    "output": "[Cause] Using Equinix data centers, organizations can directly connect their own equipment with multiple cloud providers [Relation] cause [Effect] reduced latency and superior security and making the data center a draw for both sides",
    "gold": "[Cause] Using Equinix data centers, organizations can directly connect their own equipment with multiple cloud providers [Relation] cause [Effect] reduced latency and superior security and making the data center a draw for both sides",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project operating margins averaging around 25.5% over the next five years, roughly 300 basis points above average operating margins during the prior five years, as we expect the company will benefit from higher volumes driving increased profitability in the long run.",
    "output": "[Cause] higher volumes driving increased profitability in the long run [Relation] cause [Effect] operating margins averaging around 25.5% over the next five years, roughly 300 basis points above average operating margins during the prior five years",
    "gold": "[Cause] higher volumes [Relation] enable [Effect] increased profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, despite the high costs of entering the industry, some new players are still attempting to tap into the cruiser base as extensions of their existing operating businesses, like Virgin or Ritz-Carlton, potentially increasing the competitive landscape.",
    "output": "[Cause] extensions of their existing operating businesses, like Virgin or Ritz-Carlton [Relation] cause [Effect] increasing the competitive landscape",
    "gold": "[Cause] despite the high costs of entering the industry, some new players are still attempting to tap into the cruiser base as extensions of their existing operating businesses [Relation] cause [Effect] increasing the competitive landscape",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This consolidated profile reduces the franchisee risk as the owners are more capitalized to withstand the inherent sales volatility in the restaurant industry (average EBITDA per franchisee is north of $1 million) while also more clearly defining territorial rights among franchisees.",
    "output": "[Cause] the owners are more capitalized to withstand the inherent sales volatility in the restaurant industry [Relation] cause [Effect] This consolidated profile reduces the franchisee risk",
    "gold": "[Cause]  the owners are more capitalized to withstand the inherent sales volatility in the restaurant industry (average EBITDA per franchisee is north of $1 million) [Relation] cause [Effect] more clearly defining territorial rights among franchisees",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given that a vertical ERP solution is mission critical, we believe extending the life of legacy systems is no longer tenable.",
    "output": "[Cause] a vertical ERP solution is mission critical [Relation] cause [Effect] extending the life of legacy systems is no longer tenable",
    "gold": "[Cause] a vertical ERP solution is mission critical [Relation] cause [Effect] extending the life of legacy systems is no longer tenable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Of note, export coal volume and pricing can see variability linked to changes in demand for met coal used in steelmaking overseas.",
    "output": "[Cause] changes in demand for met coal used in steelmaking overseas [Relation] cause [Effect] export coal volume and pricing can see variability",
    "gold": "[Cause] changes in demand for met coal used in steelmaking overseas [Relation] cause [Effect] export coal volume and pricing can see variability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By utilizing NICE's solutions, businesses can reduce the expenditure needed to hire compliance personnel and reduce the risk of breaking certain laws.",
    "output": "[Cause] utilizing NICE's solutions [Relation] enable [Effect] businesses can reduce the expenditure needed to hire compliance personnel and reduce the risk of breaking certain laws",
    "gold": "[Cause] utilizing NICE's solutions [Relation] enable [Effect] businesses can reduce the expenditure needed to hire compliance personnel and reduce the risk of breaking certain laws",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume a cost of equity of 7.5%, reflecting the low cyclicality of revenue, our forecast 23% operating margin, and low operating and financial leverage.",
    "output": "[Cause] the low cyclicality of revenue [Relation] cause [Effect] a cost of equity of 7.5%",
    "gold": "[Cause] a cost of equity of 7.5% [Relation] enable [Effect]  the low cyclicality of revenue, our forecast 23% operating margin",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We assume a cost of equity of 7.5%, reflecting the low cyclicality of revenue, our forecast 23% operating margin, and low operating and financial leverage.",
    "output": "[Cause] low operating and financial leverage [Relation] cause [Effect] a cost of equity of 7.5%",
    "gold": "[Cause] a cost of equity of 7.5% [Relation] enable [Effect] low operating and financial leverage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Grail's technology also looks like it will have a first-mover advantage when it launches in 2021, and Illumina may have a decent runway to expand those tests before competitive forces materially alter that target market.",
    "output": "[Cause] Illumina may have a decent runway [Relation] enable [Effect] expand those tests before competitive forces materially alter that target market",
    "gold": "[Cause] expand those tests before competitive forces materially alter that target market [Relation] enable [Effect] Illumina may have a decent runway",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, and holistically, Lyft's service may become more effective over time as the company further monetizes its riders via real-time supply and demand-driven pricing.",
    "output": "[Cause] the company further monetizes its riders via real-time supply and demand-driven pricing [Relation] cause [Effect] Lyft's service may become more effective over time",
    "gold": "[Cause] the company further monetizes its riders via real-time supply and demand-driven pricing [Relation] enable [Effect] Lyft's service may become more effective over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The switch from gel-based fracs to slick-water fracs has limited Halliburton's ability to apply custom chemistry to the development of frac fluid design.",
    "output": "[Cause] The switch from gel-based fracs to slick-water fracs [Relation] prevent [Effect] Halliburton's ability to apply custom chemistry to the development of frac fluid design",
    "gold": "[Cause] The switch from gel-based fracs to slick-water fracs [Relation] prevent [Effect] Halliburton's ability to apply custom chemistry to the development of frac fluid design",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With large premium partnerships out of reach, Alliance Data Systems has historically found success targeting smaller brands that do not capture the same level of competitive attention.",
    "output": "[Cause] large premium partnerships out of reach [Relation] cause [Effect] Alliance Data Systems has historically found success targeting smaller brands that do not capture the same level of competitive attention",
    "gold": "[Cause] large premium partnerships out of reach [Relation] cause [Effect] Alliance Data Systems has historically found success targeting smaller brands that do not capture the same level of competitive attention",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Technologies such as waste heat recovery systems that can enhance fuel economy by a few percent, which have only been employed on prototype vehicles, could become mainstream offerings supplied by Cummins.",
    "output": "[Cause] Technologies such as waste heat recovery systems [Relation] enable [Effect] enhance fuel economy by a few percent",
    "gold": "[Cause] Technologies such as waste heat recovery systems [Relation] enable [Effect] enhance fuel economy by a few percent",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Technologies such as waste heat recovery systems that can enhance fuel economy by a few percent, which have only been employed on prototype vehicles, could become mainstream offerings supplied by Cummins.",
    "output": "[Cause] Technologies such as waste heat recovery systems [Relation] enable [Effect] become mainstream offerings supplied by Cummins",
    "gold": "[Cause] Technologies such as waste heat recovery systems [Relation] enable [Effect] become mainstream offerings supplied by Cummins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the market for e-signature applications is largely a greenfield opportunity, so we think stronger competition is less likely within the medium term, as DocuSign and Adobe (and others) can all enjoy rapid growth during this time.",
    "output": "[Cause] the market for e-signature applications is largely a greenfield opportunity [Relation] cause [Effect] stronger competition is less likely within the medium term",
    "gold": "[Cause] the market for e-signature applications is largely a greenfield opportunity [Relation] cause [Effect] stronger competition is less likely within the medium term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the market for e-signature applications is largely a greenfield opportunity, so we think stronger competition is less likely within the medium term, as DocuSign and Adobe (and others) can all enjoy rapid growth during this time.",
    "output": "[Cause] DocuSign and Adobe (and others) can all enjoy rapid growth during this time [Relation] cause [Effect] stronger competition is less likely within the medium term",
    "gold": "[Cause] DocuSign and Adobe (and others) can all enjoy rapid growth during this time [Relation] cause [Effect] the market for e-signature applications is largely a greenfield opportunity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Moreover, the industry has warned that increased tariffs could lead to greater counterfeiting, an ongoing problem for Coach and Kate Spade.",
    "output": "[Cause] increased tariffs [Relation] cause [Effect] greater counterfeiting",
    "gold": "[Cause] increased tariffs [Relation] cause [Effect]  greater counterfeiting",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite this longer-term margin expansion, we expect slight non-IFRS operating margin contraction in the near term as SAP sets outs on the costlier endeavor of transitioning a higher mix of on-premises ERP users to the cloud.",
    "output": "[Cause] SAP sets outs on the costlier endeavor of transitioning a higher mix of on-premises ERP users to the cloud [Relation] cause [Effect] slight non-IFRS operating margin contraction in the near term",
    "gold": "[Cause] SAP sets outs on the costlier endeavor of transitioning a higher mix of on-premises ERP users to the cloud [Relation] cause [Effect] slight non-IFRS operating margin contraction in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This growth has enabled the business to become more profitable, as the network's fixed costs are spread over a much larger customer base.",
    "output": "[Cause] the network's fixed costs are spread over a much larger customer base [Relation] enable [Effect] This growth has enabled the business to become more profitable",
    "gold": "[Cause]  the network's fixed costs are spread over a much larger customer base [Relation] cause [Effect] This growth has enabled the business to become more profitable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Aside from the inevitable commoditization to portions of IP's product portfolio stemming from its E&C customers' standardized projects, we believe these dynamics hit ITT in other ways.",
    "output": "[Cause] the inevitable commoditization to portions of IP's product portfolio stemming from its E&C customers' standardized projects [Relation] cause [Effect] these dynamics hit ITT in other ways",
    "gold": "[Cause] E&C customers' standardized projects [Relation] cause [Effect] the inevitable commoditization to portions of IP's product portfolio",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Overall, we forecast CME Group having a compound annual growth rate in revenue of a little over 2.5% over the next five years, as the company works its way out of a near-term cyclical trough.",
    "output": "[Cause] the company works its way out of a near-term cyclical trough [Relation] cause [Effect] CME Group having a compound annual growth rate in revenue of a little over 2.5% over the next five years",
    "gold": "[Cause]  the company works its way out of a near-term cyclical trough [Relation] cause [Effect]  CME Group having a compound annual growth rate in revenue of a little over 2.5% over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our intrinsic value is significantly below recent trading levels, as we do not view the current growth to be sustainable for the foreseeable future as implied by the current share price.",
    "output": "[Cause] we do not view the current growth to be sustainable for the foreseeable future as implied by the current share price [Relation] cause [Effect] Our intrinsic value is significantly below recent trading levels",
    "gold": "[Cause] the current growth [Relation] prevent [Effect] sustainable for the foreseeable future",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our intrinsic value is significantly below recent trading levels, as we do not view the current growth to be sustainable for the foreseeable future as implied by the current share price.",
    "output": "[Cause] we do not view the current growth to be sustainable for the foreseeable future as implied by the current share price [Relation] cause [Effect] Our intrinsic value is significantly below recent trading levels",
    "gold": "[Cause] we do not view the current growth to be sustainable for the foreseeable future as implied by the current share price [Relation] cause [Effect] Our intrinsic value is significantly below recent trading levels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our forecast sees particular strength in the Popeyes segment, with the brand averaging double-digit system sales growth through 2030 due to strong unit expansion (7.5% over the next 10 years) as the brand benefits from improving four-wall economics and international expansion.",
    "output": "[Cause] strong unit expansion (7.5% over the next 10 years) [Relation] cause [Effect] the brand averaging double-digit system sales growth through 2030",
    "gold": "[Cause]  strong unit expansion (7.5% over the next 10 years) [Relation] enable [Effect] the brand benefits from improving four-wall economics and international expansion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the company's aggressive shift toward the capital-intensive iBuying model, we expect profitability to remain elusive for the foreseeable future.",
    "output": "[Cause] the company's aggressive shift toward the capital-intensive iBuying model [Relation] cause [Effect] profitability to remain elusive for the foreseeable future",
    "gold": "[Cause] the company's aggressive shift toward the capital-intensive iBuying model [Relation] cause [Effect] profitability to remain elusive for the foreseeable future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As engines are multimillion-dollar products, customers are unlikely to switch engines on an aircraft after the aircraft has been delivered, would require time and substantial investment from risk-averse customers that are focused on adding capacity.",
    "output": "[Cause] engines are multimillion-dollar products [Relation] cause [Effect] customers are unlikely to switch engines on an aircraft after the aircraft has been delivered",
    "gold": "[Cause] engines are multimillion-dollar products [Relation] cause [Effect] customers are unlikely to switch engines on an aircraft after the aircraft has been delivered",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As engines are multimillion-dollar products, customers are unlikely to switch engines on an aircraft after the aircraft has been delivered, would require time and substantial investment from risk-averse customers that are focused on adding capacity.",
    "output": "[Cause] risk-averse customers that are focused on adding capacity [Relation] cause [Effect] require time and substantial investment",
    "gold": "[Cause] customers are unlikely to switch engines on an aircraft after the aircraft has been delivered [Relation] cause [Effect] require time and substantial investment from risk-averse customers that are focused on adding capacity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over the near term, the uneven spread of COVID-19 could waylay performance metrics if rolling store closures arise again, dislocating demand.",
    "output": "[Cause] rolling store closures arise again [Relation] cause [Effect] dislocating demand",
    "gold": "[Cause] the uneven spread of COVID-19 [Relation] prevent [Effect] performance metrics",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over the near term, the uneven spread of COVID-19 could waylay performance metrics if rolling store closures arise again, dislocating demand.",
    "output": "[Cause] rolling store closures arise again [Relation] cause [Effect] dislocating demand",
    "gold": "[Cause]  rolling store closures arise again [Relation] cause [Effect] the uneven spread of COVID-19 could waylay performance metrics",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over the near term, the uneven spread of COVID-19 could waylay performance metrics if rolling store closures arise again, dislocating demand.",
    "output": "[Cause] rolling store closures arise again [Relation] cause [Effect] dislocating demand",
    "gold": "[Cause]  rolling store closures arise again | the uneven spread of COVID-19 could waylay performance metrics [Relation] cause [Effect] dislocating demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While upstart MasMovil has caused disruption in the Spanish market, we expect Vodafone's solid asset base will enable it to weather this storm and return to profitable growth over the longer term.",
    "output": "[Cause] Vodafone's solid asset base [Relation] enable [Effect] it to weather this storm and return to profitable growth over the longer term",
    "gold": "[Cause] Vodafone's solid asset base [Relation] enable [Effect] it to weather this storm and return to profitable growth over the longer term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In order to remain relevant to scientists in early research phases, Danaher must continue to innovate, which contributes to its intangible assets in this business, as well.",
    "output": "[Cause] Danaher must continue to innovate [Relation] enable [Effect] remain relevant to scientists in early research phases",
    "gold": "[Cause] continue to innovate [Relation] cause [Effect] contributes to its intangible assets in this business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In order to remain relevant to scientists in early research phases, Danaher must continue to innovate, which contributes to its intangible assets in this business, as well.",
    "output": "[Cause] Danaher must continue to innovate [Relation] cause [Effect] contributes to its intangible assets in this business",
    "gold": "[Cause] continue to innovate [Relation] cause [Effect] remain relevant to scientists in early research phases",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In looking at the entire company, over the next five years, we expect that Merck will post 6% annual top-line growth with new drugs offsetting drugs lost to generic competition.",
    "output": "[Cause] new drugs offsetting drugs lost to generic competition [Relation] enable [Effect] Merck will post 6% annual top-line growth",
    "gold": "[Cause] new drugs offsetting drugs lost to generic competition [Relation] enable [Effect]  Merck will post 6% annual top-line growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "An extensive salesforce makes J&J a powerful candidate for a smaller biotechnology company looking to partner on a new drug, which strengthens Johnson & Johnson's ability to bring new products to market.",
    "output": "[Cause] An extensive salesforce [Relation] enable [Effect] J&J a powerful candidate for a smaller biotechnology company looking to partner on a new drug",
    "gold": "[Cause] An extensive salesforce [Relation] enable [Effect] J&J a powerful candidate for a smaller biotechnology company looking to partner on a new drug",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "An extensive salesforce makes J&J a powerful candidate for a smaller biotechnology company looking to partner on a new drug, which strengthens Johnson & Johnson's ability to bring new products to market.",
    "output": "[Cause] An extensive salesforce [Relation] enable [Effect] strengthens Johnson & Johnson's ability to bring new products to market",
    "gold": "[Cause] J&J a powerful candidate for a smaller biotechnology company looking to partner on a new drug [Relation] enable [Effect] strengthens Johnson & Johnson's ability to bring new products to market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Thus Adcetris and Padcev are well-protected assets that should drive cash generation as the company develops its other candidates, such as tisotumab vedotin, or TV, which will have pivotal data in cervical cancer early next year.",
    "output": "[Cause] the company develops its other candidates, such as tisotumab vedotin, or TV [Relation] cause [Effect] Adcetris and Padcev are well-protected assets",
    "gold": "[Cause] Adcetris and Padcev are well-protected assets [Relation] enable [Effect] drive cash generation",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Thus Adcetris and Padcev are well-protected assets that should drive cash generation as the company develops its other candidates, such as tisotumab vedotin, or TV, which will have pivotal data in cervical cancer early next year.",
    "output": "[Cause] the company develops its other candidates, such as tisotumab vedotin, or TV [Relation] cause [Effect] Adcetris and Padcev are well-protected assets that should drive cash generation",
    "gold": "[Cause] the company develops its other candidates, such as tisotumab vedotin, or TV [Relation] cause [Effect] Adcetris and Padcev are well-protected assets that should drive cash generation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thus Adcetris and Padcev are well-protected assets that should drive cash generation as the company develops its other candidates, such as tisotumab vedotin, or TV, which will have pivotal data in cervical cancer early next year.",
    "output": "[Cause] the company develops its other candidates [Relation] cause [Effect] Adcetris and Padcev are well-protected assets",
    "gold": "[Cause] the company develops its other candidates, such as tisotumab vedotin, or TV [Relation] cause [Effect] have pivotal data in cervical cancer early next year",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the ongoing demand for content, we believe content creation for cable networks is not a zero-sum game, as quality content will always find an outlet.",
    "output": "[Cause] quality content will always find an outlet [Relation] cause [Effect] content creation for cable networks is not a zero-sum game",
    "gold": "[Cause]  the ongoing demand for content | quality content will always find an outlet [Relation] enable [Effect] content creation for cable networks is not a zero-sum game",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With an expanding operating margin ahead thanks to further supply chain and merchandising amendments underway, we view Lowe's 13% operating margin forecast as achievable; additionally, we forecast a 38% ROIC in 2030.",
    "output": "[Cause] further supply chain and merchandising amendments underway [Relation] enable [Effect] an expanding operating margin ahead",
    "gold": "[Cause] With an expanding operating margin ahead thanks to further supply chain and merchandising amendments underway [Relation] enable [Effect] we view Lowe's 13% operating margin forecast as achievable; additionally, we forecast a 38% ROIC in 2030",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With an expanding operating margin ahead thanks to further supply chain and merchandising amendments underway, we view Lowe's 13% operating margin forecast as achievable; additionally, we forecast a 38% ROIC in 2030.",
    "output": "[Cause] further supply chain and merchandising amendments underway [Relation] enable [Effect] an expanding operating margin ahead",
    "gold": "[Cause] further supply chain and merchandising amendments underway [Relation] cause [Effect] an expanding operating margin ahead",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Komatsu could then have a better gauge of the real demand for its machinery and adjust its production and sales accordingly.",
    "output": "[Cause] Komatsu could then have a better gauge of the real demand for its machinery [Relation] enable [Effect] adjust its production and sales accordingly",
    "gold": "[Cause] better gauge of the real demand [Relation] cause [Effect] machinery and adjust its production and sales",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our base case, we assume significant short-term growth as food producers, suppliers, and grocery stores scramble to fulfill consumer needs during the mercurial coronavirus pandemic.",
    "output": "[Cause] food producers, suppliers, and grocery stores scramble to fulfill consumer needs during the mercurial coronavirus pandemic [Relation] cause [Effect] significant short-term growth",
    "gold": "[Cause]  food producers, suppliers, and grocery stores scramble to fulfill consumer needs during the mercurial coronavirus pandemic [Relation] cause [Effect]  significant short-term growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect its future solvent-assisted growth projects to drive significant growth and add value, but not enough to justify a 4-star rating.",
    "output": "[Cause] its future solvent-assisted growth projects [Relation] enable [Effect] significant growth and add value",
    "gold": "[Cause] its future solvent-assisted growth projects [Relation] cause [Effect] significant growth and add value",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Library budgets are strained, limiting growth, but Wiley's catalog is essential and its content, platform, and relationships with universities and other institutions make it a valued partner.",
    "output": "[Cause] Library budgets are strained [Relation] prevent [Effect] growth",
    "gold": "[Cause] Library budgets are strained [Relation] prevent [Effect] growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In categories like carbonated soft drinks, or CSDs, and juices, slight modifications to ingredient composition can result in distinct tastes, and thus value propositions, to the consumer.",
    "output": "[Cause] slight modifications to ingredient composition [Relation] cause [Effect] distinct tastes",
    "gold": "[Cause] distinct tastes [Relation] cause [Effect] value propositions, to the consumer",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In fact, demand is likely to be fairly strong in the first half of the year due to consumer pantry stocking of products with long shelf lives, although this could unwind in the second half of the year.",
    "output": "[Cause] consumer pantry stocking of products with long shelf lives [Relation] cause [Effect] demand is likely to be fairly strong in the first half of the year",
    "gold": "[Cause] consumer pantry stocking of products with long shelf lives [Relation] cause [Effect] demand is likely to be fairly strong in the first half of the year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's massive scale, at more than 40 billion components per year, limits the chance of component shortages, as many components can be made in a different facility if any one plant faces difficulties.",
    "output": "[Cause] many components can be made in a different facility if any one plant faces difficulties [Relation] cause [Effect] The firm's massive scale, at more than 40 billion components per year, limits the chance of component shortages",
    "gold": "[Cause] many components can be made in a different facility if any one plant faces difficulties [Relation] enable [Effect] The firm's massive scale, at more than 40 billion components per year, limits the chance of component shortages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Smucker is benefiting from pandemic-related pantry stocking, the firm faces long-term revenue headwinds, resulting in declining organic sales in three of the past five years.",
    "output": "[Cause] the firm faces long-term revenue headwinds [Relation] cause [Effect] declining organic sales in three of the past five years",
    "gold": "[Cause] the firm faces long-term revenue headwinds [Relation] cause [Effect] declining organic sales in three of the past five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, Banco Bradesco and Itau Unibanco have capitalized on its sticky deposit base by cross selling ancillary banking products like credit cards and insurance.",
    "output": "[Cause] cross selling ancillary banking products like credit cards and insurance [Relation] enable [Effect] Banco Bradesco and Itau Unibanco have capitalized on its sticky deposit base",
    "gold": "[Cause] cross selling ancillary banking products like credit cards and insurance [Relation] cause [Effect] Banco Bradesco and Itau Unibanco have capitalized on its sticky deposit base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, almost half of CBRE's income is earned in international markets and foreign currencies, notably higher than in the past due to several acquisitions; foreign exchange rate fluctuations or country-specific risks can meaningfully affect the firm's financial results.",
    "output": "[Cause] foreign exchange rate fluctuations or country-specific risks [Relation] cause [Effect] affect the firm's financial results",
    "gold": "[Cause] foreign exchange rate fluctuations or country-specific risks [Relation] cause [Effect] affect the firm's financial results",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Following the firm's release of fourth-quarter 2020 financial results, we are increasing our fair value estimate on SS&C to $67 per share from $63 due to time value of money and revenue being a touch higher than our previous forecast.",
    "output": "[Cause] time value of money and revenue being a touch higher than our previous forecast [Relation] cause [Effect] increasing our fair value estimate on SS&C to $67 per share from $63",
    "gold": "[Cause] time value of money and revenue being a touch higher than our previous forecast [Relation] cause [Effect] increasing our fair value estimate on SS&C to $67 per share from $63",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the bank must also maintain a vast international office network to support its global footprint for its commercial operations.",
    "output": "[Cause] the bank must also maintain a vast international office network [Relation] enable [Effect] support its global footprint for its commercial operations",
    "gold": "[Cause]  the bank must also maintain a vast international office network [Relation] cause [Effect]  support its global footprint for its commercial operations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "WestRock would probably see revenue and profitability decline if the United States, roughly 95% of sales, were to experience a substantial economic slowdown.",
    "output": "[Cause] the United States, roughly 95% of sales, were to experience a substantial economic slowdown [Relation] cause [Effect] WestRock would probably see revenue and profitability decline",
    "gold": "[Cause]  the United States, roughly 95% of sales, were to experience a substantial economic slowdown [Relation] cause [Effect] WestRock would probably see revenue and profitability decline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe increased emissions regulation has led to more emissions content in commercial vehicles, meaning, more components like aftertreatment systems are becoming more widely adopted, which works to reduce harmful engine emissions and increase fuel efficiency.",
    "output": "[Cause] increased emissions regulation [Relation] cause [Effect] more emissions content in commercial vehicles",
    "gold": "[Cause]  increased emissions regulation has led to more emissions content in commercial vehicles, meaning, more components like aftertreatment systems are becoming more widely adopted [Relation] enable [Effect] works to reduce harmful engine emissions and increase fuel efficiency",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Paylocity recently increased its maximum PEPY to $400 with the launch of its learning management module, up from $200 at the time of its 2014 initial public offering.",
    "output": "[Cause] the launch of its learning management module [Relation] enable [Effect] Paylocity recently increased its maximum PEPY to $400",
    "gold": "[Cause] the launch of its learning management module [Relation] enable [Effect] Paylocity recently increased its maximum PEPY to $400",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe CNH Industrial faces little risk on this front, as the company continues to evolve the sustainability of its products and its impact on the environment.",
    "output": "[Cause] the company continues to evolve the sustainability of its products and its impact on the environment [Relation] cause [Effect] CNH Industrial faces little risk on this front",
    "gold": "[Cause]  the company continues to evolve the sustainability of its products and its impact on the environment [Relation] cause [Effect] CNH Industrial faces little risk on this front",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, the addition of professional sports to the region stands to drive incremental demand, which makes the allure of Wynn's recent convention expansion and its 38 acres currently under construction across from Wynn Las Vegas that was purchased in December 2017 that much more attractive.",
    "output": "[Cause] the addition of professional sports to the region stands to drive incremental demand [Relation] cause [Effect] the allure of Wynn's recent convention expansion and its 38 acres currently under construction across from Wynn Las Vegas that was purchased in December 2017 that much more attractive",
    "gold": "[Cause] the addition of professional sports to the region stands [Relation] cause [Effect] incremental demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In parallel, we forecast gross margin to increase from 31.5% in 2020 to 32.2% in 2025 as increasing automation in Accenture's servicing, which cuts training costs embedded in cost of goods sold, overshadows the increasing cost of talent.",
    "output": "[Cause] increasing automation in Accenture's servicing [Relation] cause [Effect] gross margin to increase from 31.5% in 2020 to 32.2% in 2025",
    "gold": "[Cause] increasing automation in Accenture's servicing [Relation] cause [Effect] gross margin to increase from 31.5% in 2020 to 32.2% in 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In parallel, we forecast gross margin to increase from 31.5% in 2020 to 32.2% in 2025 as increasing automation in Accenture's servicing, which cuts training costs embedded in cost of goods sold, overshadows the increasing cost of talent.",
    "output": "[Cause] increasing automation in Accenture's servicing [Relation] cause [Effect] gross margin to increase from 31.5% in 2020 to 32.2% in 2025",
    "gold": "[Cause] increasing automation in Accenture's servicing [Relation] prevent [Effect] training costs embedded in cost of goods sold",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In parallel, we forecast gross margin to increase from 31.5% in 2020 to 32.2% in 2025 as increasing automation in Accenture's servicing, which cuts training costs embedded in cost of goods sold, overshadows the increasing cost of talent.",
    "output": "[Cause] increasing automation in Accenture's servicing [Relation] cause [Effect] gross margin to increase from 31.5% in 2020 to 32.2% in 2025",
    "gold": "[Cause] increasing automation in Accenture's servicing [Relation] prevent [Effect]  the increasing cost of talent",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Google's search engine is an example of the benefits from indirect network effects associated with data, as more searches lead to better algorithms, better results, and in turn, more searches.",
    "output": "[Cause] more searches lead to better algorithms, better results, and in turn, more searches [Relation] cause [Effect] Google's search engine is an example of the benefits from indirect network effects associated with data",
    "gold": "[Cause] more searches [Relation] cause [Effect] better algorithms, better results, and in turn, more searches",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast that sales for ORV/snowmobiles can rise at 4% over the next decade and 6% motorcycle growth as Indian captures wider market share (with automatic Slingshot shipments helping support demand ahead).",
    "output": "[Cause] Indian captures wider market share [Relation] cause [Effect] sales for ORV/snowmobiles can rise at 4% over the next decade and 6% motorcycle growth",
    "gold": "[Cause] Indian captures wider market share [Relation] cause [Effect]  sales for ORV/snowmobiles can rise at 4% over the next decade and 6% motorcycle growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe there are switching costs to leaving the platform, especially given the breadth of solutions the company has to offer.",
    "output": "[Cause] the breadth of solutions the company has to offer [Relation] cause [Effect] there are switching costs to leaving the platform",
    "gold": "[Cause] the breadth of solutions the company has to offer [Relation] cause [Effect]  there are switching costs to leaving the platform",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Santander's book includes a large portion of emerging-market loans with higher credit costs, but Santander earns a higher yield on these emerging-market books to compensate for higher credit costs.",
    "output": "[Cause] Santander earns a higher yield on these emerging-market books [Relation] enable [Effect] compensate for higher credit costs",
    "gold": "[Cause] Santander earns a higher yield on these emerging-market books [Relation] cause [Effect] compensate for higher credit costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, other contraceptive drugs, such as oral contraceptives, which garner reoccurring revenue over their usage life, likely provide greater overall profits to manufacturers.",
    "output": "[Cause] other contraceptive drugs, such as oral contraceptives, which garner reoccurring revenue over their usage life [Relation] enable [Effect] provide greater overall profits to manufacturers",
    "gold": "[Cause] other contraceptive drugs, such as oral contraceptives, which garner reoccurring revenue over their usage life [Relation] enable [Effect] provide greater overall profits to manufacturers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "So if a plan sponsor chooses to switch to a new insurance plan, its care provider networks could change substantially, creating potential care gaps that cause both frustration and poor health outcomes for end users.",
    "output": "[Cause] a plan sponsor chooses to switch to a new insurance plan [Relation] cause [Effect] its care provider networks could change substantially",
    "gold": "[Cause] a plan sponsor chooses to switch to a new insurance plan [Relation] cause [Effect] its care provider networks could change substantially",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "So if a plan sponsor chooses to switch to a new insurance plan, its care provider networks could change substantially, creating potential care gaps that cause both frustration and poor health outcomes for end users.",
    "output": "[Cause] potential care gaps [Relation] cause [Effect] both frustration and poor health outcomes for end users",
    "gold": "[Cause] its care provider networks could change substantially [Relation] cause [Effect] potential care gaps",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "So if a plan sponsor chooses to switch to a new insurance plan, its care provider networks could change substantially, creating potential care gaps that cause both frustration and poor health outcomes for end users.",
    "output": "[Cause] potential care gaps [Relation] cause [Effect] both frustration and poor health outcomes for end users",
    "gold": "[Cause] potential care gaps [Relation] cause [Effect] both frustration and poor health outcomes for end users",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Industrial gases typically account for a relatively small fraction of customers' costs but are a vital input to ensure uninterrupted production. As such, customers are often willing to pay a premium and sign long-term contracts to ensure their businesses run smoothly.",
    "output": "[Cause] Industrial gases typically account for a relatively small fraction of customers' costs but are a vital input to ensure uninterrupted production [Relation] cause [Effect] customers are often willing to pay a premium and sign long-term contracts to ensure their businesses run smoothly",
    "gold": "[Cause] Industrial gases typically account for a relatively small fraction of customers' costs but are a vital input to ensure uninterrupted production [Relation] cause [Effect] customers are often willing to pay a premium and sign long-term contracts to ensure their businesses run smoothly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Ferguson has put the right strategy in place to optimize pricing, which should lead to a stronger margin profile going forward.",
    "output": "[Cause] Ferguson has put the right strategy in place to optimize pricing [Relation] cause [Effect] a stronger margin profile going forward",
    "gold": "[Cause] Ferguson has put the right strategy in place to optimize pricing [Relation] cause [Effect]  a stronger margin profile going forward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, once the pandemic largely subsides, we think Cantel could experience material earnings growth largely due to operating margin improvements, and we model five-year average diluted EPS growth of 17%.",
    "output": "[Cause] operating margin improvements [Relation] cause [Effect] Cantel could experience material earnings growth",
    "gold": "[Cause]  operating margin improvements [Relation] cause [Effect] Cantel could experience material earnings growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Integrated Freight & Logisticsthis is a key reason Hunt has outperformed its peers in terms of container volume growth over the years.",
    "output": "[Cause] Integrated Freight & Logisticsthis [Relation] cause [Effect] Hunt has outperformed its peers in terms of container volume growth over the years",
    "gold": "[Cause]  Integrated Freight & Logisticsthis [Relation] cause [Effect] Hunt has outperformed its peers in terms of container volume growth over the years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Magna's products are highly engineered requiring the company to attract and retain highly skilled human capital with expertise in various engineering disciplines.",
    "output": "[Cause] Magna's products are highly engineered [Relation] enable [Effect] attract and retain highly skilled human capital with expertise in various engineering disciplines",
    "gold": "[Cause] the company to attract and retain highly skilled human capital with expertise in various engineering disciplines [Relation] cause [Effect] Magna's products are highly engineered",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, the marginal cost of processing one extra barrel is minimal, and therefore a 1% increase in capacity through more efficient plant usage results in a 404,000 barrel capacity, or more than 1,400 barrels annually, which is meaningful over time.",
    "output": "[Cause] the marginal cost of processing one extra barrel is minimal [Relation] cause [Effect] a 1% increase in capacity through more efficient plant usage results in a 404,000 barrel capacity, or more than 1,400 barrels annually, which is meaningful over time",
    "gold": "[Cause]  the marginal cost of processing one extra barrel is minimal [Relation] enable [Effect] a 1% increase in capacity through more efficient plant usage results in a 404,000 barrel capacity, or more than 1,400 barrels annually, which is meaningful over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Nasdaq's market-services revenue stagnates, we expect most of the company's revenue growth to come from its investment intelligence and market technology businesses, which are now the focal point of the company's growth strategy.",
    "output": "[Cause] Nasdaq's market-services revenue stagnates [Relation] cause [Effect] most of the company's revenue growth to come from its investment intelligence and market technology businesses, which are now the focal point of the company's growth strategy",
    "gold": "[Cause] Nasdaq's market-services revenue stagnates [Relation] cause [Effect] most of the company's revenue growth to come from its investment intelligence and market technology businesses, which are now the focal point of the company's growth strategy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Demand in this business is correlated with the business cycle and social activity and, thus, has dropped off considerably due to COVID-19.",
    "output": "[Cause] Demand in this business is correlated with the business cycle and social activity [Relation] cause [Effect] dropped off considerably",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] dropped off considerably",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, the strengths of the domestic retail and asset-management businesses are diluted by Nomura's subscale global wholesale business, where the firm has no clear long-term advantage competing with foreign securities companies with better connections overseas.",
    "output": "[Cause] Nomura's subscale global wholesale business [Relation] cause [Effect] the strengths of the domestic retail and asset-management businesses are diluted",
    "gold": "[Cause]  the strengths of the domestic retail and asset-management businesses are diluted by Nomura's subscale global wholesale business [Relation] cause [Effect] the firm has no clear long-term advantage competing with foreign securities companies with better connections overseas",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Still, switching costs are negligible, forcing Dollar General to face intense competition from convenience stores, mass merchandisers, hard discounters, grocery stores, pharmacy chains, and online retailers (Amazon).",
    "output": "[Cause] switching costs are negligible [Relation] cause [Effect] Dollar General to face intense competition from convenience stores, mass merchandisers, hard discounters, grocery stores, pharmacy chains, and online retailers (Amazon)",
    "gold": "[Cause] switching costs are negligible [Relation] cause [Effect] Dollar General to face intense competition from convenience stores, mass merchandisers, hard discounters, grocery stores, pharmacy chains, and online retailers (Amazon)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These boutiques are unlikely to use more than a few online distribution channels, because their size might not allow staffing to actively manage inventory and relationships with multiple partners, although improvements in technology could lower this challenge in the future.",
    "output": "[Cause] their size might not allow staffing to actively manage inventory and relationships with multiple partners [Relation] cause [Effect] These boutiques are unlikely to use more than a few online distribution channels",
    "gold": "[Cause]  their size might not allow staffing to actively manage inventory and relationships with multiple partners [Relation] cause [Effect] These boutiques are unlikely to use more than a few online distribution channels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The 2017 merger of Knight Transportation and Swift Transportation was a sizable transaction that placed a material amount of goodwill on Knight-Swift's balance sheet, which tempers the company's ROIC performance.",
    "output": "[Cause] The 2017 merger of Knight Transportation and Swift Transportation was a sizable transaction that placed a material amount of goodwill on Knight-Swift's balance sheet [Relation] cause [Effect] tempers the company's ROIC performance",
    "gold": "[Cause] The 2017 merger of Knight Transportation and Swift Transportation was a sizable transaction that placed a material amount of goodwill on Knight-Swift's balance sheet [Relation] enable [Effect] tempers the company's ROIC performance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If Zebra isn't able to realize its ambitions to expand its proportion of recurring revenue, the market could price in a substantially lower multiple.",
    "output": "[Cause] Zebra isn't able to realize its ambitions to expand its proportion of recurring revenue [Relation] cause [Effect] the market could price in a substantially lower multiple",
    "gold": "[Cause] Zebra isn't able to realize its ambitions to expand its proportion of recurring revenue [Relation] cause [Effect] the market could price in a substantially lower multiple",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Gilead also paid a significant premium to acquire Myogen, and the failure of darusentan put pressure on Letairis to make the deal accretive.",
    "output": "[Cause] the failure of darusentan [Relation] cause [Effect] put pressure on Letairis to make the deal accretive",
    "gold": "[Cause] the failure of darusentan [Relation] cause [Effect] put pressure on Letairis to make the deal accretive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also think the focus on sales and service initiatives, and the ongoing prioritization of the Spinnaker sales and marketing program, contributes to intangible assets from improved returns, although we caution sales and marketing initiatives cannot generate long-lasting competitive advantages on their own.",
    "output": "[Cause] the focus on sales and service initiatives, and the ongoing prioritization of the Spinnaker sales and marketing program [Relation] enable [Effect] intangible assets from improved returns",
    "gold": "[Cause] the focus on sales and service initiatives, and the ongoing prioritization of the Spinnaker sales and marketing program [Relation] enable [Effect] intangible assets from improved returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, our view is that Hanes can overcome some of these issues and slightly improve margins in future years as cost savings initiatives take hold.",
    "output": "[Cause] cost savings initiatives take hold [Relation] enable [Effect] Hanes can overcome some of these issues and slightly improve margins in future years",
    "gold": "[Cause] cost savings initiatives take hold [Relation] cause [Effect] Hanes can overcome some of these issues and slightly improve margins in future years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We still believe Xarelto's better dosing profile and first-mover advantage over rival Eliquis will lead to more than 30% share of the very large atrial fibrillation market, but gains in more recently approved cardiovascular indications look less likely to drive the gains we initially expected.",
    "output": "[Cause] gains in more recently approved cardiovascular indications look less likely [Relation] cause [Effect] drive the gains we initially expected",
    "gold": "[Cause] Xarelto's better dosing profile and first-mover advantage over rival Eliquis [Relation] cause [Effect] more than 30% share of the very large atrial fibrillation market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This large store network is attractive for pharmacy benefit managers when assembling plans to obtain volume-based discounts from pharmaceutical manufacturers and also assembling convenient retail store locations that would be attractive to an insurance plan's members.",
    "output": "[Cause] assembling plans to obtain volume-based discounts from pharmaceutical manufacturers and also assembling convenient retail store locations that would be attractive to an insurance plan's members [Relation] enable [Effect] This large store network is attractive for pharmacy benefit managers",
    "gold": "[Cause] assembling plans to obtain volume-based discounts from pharmaceutical manufacturers and also assembling convenient retail store locations that would be attractive to an insurance plan's members [Relation] cause [Effect] This large store network is attractive for pharmacy benefit managers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After Rogers' business was affected significantly by the pandemic, resulting in 8% revenue contraction in 2020, we expect a sharp rebound and abnormally high growth in the latter part of 2021 and 2022.",
    "output": "[Cause] Rogers' business was affected significantly by the pandemic [Relation] cause [Effect] 8% revenue contraction in 2020",
    "gold": "[Cause] the pandemic [Relation] enable [Effect] Rogers' business was affected significantly",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After Rogers' business was affected significantly by the pandemic, resulting in 8% revenue contraction in 2020, we expect a sharp rebound and abnormally high growth in the latter part of 2021 and 2022.",
    "output": "[Cause] Rogers' business was affected significantly by the pandemic [Relation] cause [Effect] 8% revenue contraction in 2020",
    "gold": "[Cause] After Rogers' business was affected significantly by the pandemic, resulting in 8% revenue contraction in 2020 [Relation] cause [Effect] we expect a sharp rebound and abnormally high growth in the latter part of 2021 and 2022",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Banking is a business of trust, and damage to the bank's brand could result in the permanent loss of customers or force the bank to compete harder on price.",
    "output": "[Cause] damage to the bank's brand [Relation] cause [Effect] the permanent loss of customers or force the bank to compete harder on price",
    "gold": "[Cause] damage to the bank's brand [Relation] cause [Effect] the permanent loss of customers or force the bank to compete harder on price",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that Echo is an asset-light transportation intermediary that doesn't own power equipment, its ESG-related risks are somewhat limited.",
    "output": "[Cause] Echo is an asset-light transportation intermediary that doesn't own power equipment [Relation] cause [Effect] its ESG-related risks are somewhat limited",
    "gold": "[Cause]  Echo is an asset-light transportation intermediary that doesn't own power equipment [Relation] enable [Effect]  its ESG-related risks are somewhat limited",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's long-term transition from a commodity protein producer to a branded consumer products company has served it well, even during pandemic-driven volatility, helping to stabilize prices and demand for its strong brands.",
    "output": "[Cause] The firm's long-term transition from a commodity protein producer to a branded consumer products company [Relation] enable [Effect] served it well",
    "gold": "[Cause] The firm's long-term transition from a commodity protein producer to a branded consumer products company [Relation] cause [Effect] served it well",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's long-term transition from a commodity protein producer to a branded consumer products company has served it well, even during pandemic-driven volatility, helping to stabilize prices and demand for its strong brands.",
    "output": "[Cause] The firm's long-term transition from a commodity protein producer to a branded consumer products company [Relation] enable [Effect] stabilize prices and demand for its strong brands",
    "gold": "[Cause] The firm's long-term transition from a commodity protein producer to a branded consumer products company [Relation] enable [Effect]  stabilize prices and demand for its strong brands",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Synaptics pursued the latter, acquiring Validity Sensors (fingerprint) and Renesas SP (display drivers) to broaden its portfolio with touch, display, and fingerprint capabilities.",
    "output": "[Cause] acquiring Validity Sensors (fingerprint) and Renesas SP (display drivers) [Relation] enable [Effect] broaden its portfolio with touch, display, and fingerprint capabilities",
    "gold": "[Cause] acquiring Validity Sensors (fingerprint) and Renesas SP (display drivers) [Relation] enable [Effect]  broaden its portfolio with touch, display, and fingerprint capabilities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Certainly, the rising tide of global renewable power generation is likely to lift all boats over time as private and public customers seek out renewable generation. As such there are many projects available for bid, each typically offering a contract or power purchase agreement that offers above-market power prices or targets a specific return on capital.",
    "output": "[Cause] the rising tide of global renewable power generation is likely to lift all boats over time as private and public customers seek out renewable generation [Relation] cause [Effect] there are many projects available for bid, each typically offering a contract or power purchase agreement that offers above-market power prices or targets a specific return on capital",
    "gold": "[Cause] the rising tide of global renewable power generation is likely to lift all boats over time as private and public customers seek out renewable generation [Relation] cause [Effect]  there are many projects available for bid, each typically offering a contract or power purchase agreement that offers above-market power prices or targets a specific return on capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In order to develop more advanced products and/or reach superior economies of scale, these smaller competitors frequently establish joint ventures or purchase smaller competitors to gain the required technical knowledge or add capacity.",
    "output": "[Cause] develop more advanced products and/or reach superior economies of scale [Relation] cause [Effect] these smaller competitors frequently establish joint ventures or purchase smaller competitors",
    "gold": "[Cause] these smaller competitors frequently establish joint ventures or purchase smaller competitors [Relation] enable [Effect] gain the required technical knowledge or add capacity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In order to develop more advanced products and/or reach superior economies of scale, these smaller competitors frequently establish joint ventures or purchase smaller competitors to gain the required technical knowledge or add capacity.",
    "output": "[Cause] gain the required technical knowledge or add capacity [Relation] cause [Effect] these smaller competitors frequently establish joint ventures or purchase smaller competitors",
    "gold": "[Cause] gain the required technical knowledge or add capacity [Relation] enable [Effect] develop more advanced products and/or reach superior economies of scale",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "All the while, prices of IGBTs and MOSFETs can be as low as a few cents, so any upstart or challenger would struggle to undercut Infineon on price while still generating an adequate return on investment. This last point is likely why a firm with significant excess capacity like Texas Instruments, for example, is likely to stay out of this market.",
    "output": "[Cause] prices of IGBTs and MOSFETs can be as low as a few cents, so any upstart or challenger would struggle to undercut Infineon on price while still generating an adequate return on investment [Relation] cause [Effect] a firm with significant excess capacity like Texas Instruments, for example, is likely to stay out of this market",
    "gold": "[Cause] prices of IGBTs and MOSFETs can be as low as a few cents, so any upstart or challenger would struggle to undercut Infineon on price while still generating an adequate return on investment [Relation] cause [Effect] a firm with significant excess capacity like Texas Instruments, for example, is likely to stay out of this market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect ARM-based chips to generate some traction in the coming years (with Apple notably shifting from x86 CPUs to ARM-based CPUs), but we think this transition will be slow and both AMD and Intel can still generate excess ROICs.",
    "output": "[Cause] Apple notably shifting from x86 CPUs to ARM-based CPUs [Relation] cause [Effect] ARM-based chips to generate some traction in the coming years",
    "gold": "[Cause] Apple notably shifting from x86 CPUs to ARM-based CPUs [Relation] cause [Effect] ARM-based chips to generate some traction in the coming years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the negative side, wealth managers' willingness and ability to pay is more limited and as a result, wealth management desktops tend to be at a much lower price point versus institutional-focused research desktops.",
    "output": "[Cause] wealth managers' willingness and ability to pay is more limited [Relation] cause [Effect] wealth management desktops tend to be at a much lower price point versus institutional-focused research desktops",
    "gold": "[Cause] wealth managers' willingness and ability to pay is more limited [Relation] cause [Effect] wealth management desktops tend to be at a much lower price point versus institutional-focused research desktops",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Telecommunication services are considered public goods in several countries, which leads to regulators scrutinizing a firm's network quality and pricing regularly.",
    "output": "[Cause] Telecommunication services are considered public goods in several countries [Relation] cause [Effect] regulators scrutinizing a firm's network quality and pricing regularly",
    "gold": "[Cause] Telecommunication services are considered public goods in several countries [Relation] cause [Effect] regulators scrutinizing a firm's network quality and pricing regularly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We estimate a 13% EPS decline in 2022 due to divestitures and a 12.6% increase in shares outstanding due to the conversion of convertible preferred shares.",
    "output": "[Cause] divestitures [Relation] cause [Effect] a 13% EPS decline in 2022",
    "gold": "[Cause] divestitures [Relation] cause [Effect] a 13% EPS decline in 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We estimate a 13% EPS decline in 2022 due to divestitures and a 12.6% increase in shares outstanding due to the conversion of convertible preferred shares.",
    "output": "[Cause] the conversion of convertible preferred shares [Relation] cause [Effect] a 12.6% increase in shares outstanding",
    "gold": "[Cause] the conversion of convertible preferred shares [Relation] cause [Effect] a 12.6% increase in shares outstanding",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the services of these co-manufacturers and distributors are available to the firm's competitors as well, this approach could not be considered a unique advantage for Simply Good Foods.",
    "output": "[Cause] the services of these co-manufacturers and distributors are available to the firm's competitors as well [Relation] cause [Effect] this approach could not be considered a unique advantage for Simply Good Foods",
    "gold": "[Cause] the services of these co-manufacturers and distributors are available to the firm's competitors as well [Relation] cause [Effect] his approach could not be considered a unique advantage for Simply Good Foods.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Kohl's sources a large amount of its own inventory as private-label products account for about one third of its sales.",
    "output": "[Cause] private-label products account for about one third of its sales [Relation] cause [Effect] Kohl's sources a large amount of its own inventory",
    "gold": "[Cause] private-label products account for about one third of its sales [Relation] cause [Effect] Kohl's sources a large amount of its own inventory",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fortive seeks to address customer pain points by combining its large installed base of tools and equipment with software solutions to offer a comprehensive package, thereby increasing customer stickiness.",
    "output": "[Cause] Fortive seeks to address customer pain points by combining its large installed base of tools and equipment with software solutions to offer a comprehensive package [Relation] enable [Effect] increasing customer stickiness",
    "gold": "[Cause] Fortive seeks to address customer pain points by combining its large installed base of tools and equipment with software solutions to offer a comprehensive package [Relation] cause [Effect]  increasing customer stickiness",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "McDonald's has spent several years modernizing its in-store experience, so it's not surprising that its 2019 acquisitions have focused on the drive-thru.",
    "output": "[Cause] McDonald's has spent several years modernizing its in-store experience [Relation] cause [Effect] its 2019 acquisitions have focused on the drive-thru",
    "gold": "[Cause] McDonald's has spent several years modernizing its in-store experience [Relation] cause [Effect] its 2019 acquisitions have focused on the drive-thru",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, even similar tools have been difficult for other firms to engineer, given the complexity of this field, leaving Illumina the dominant player in high-throughput applications and with limited competition in lower-throughput fields, such as Thermo Fisher Scientific.",
    "output": "[Cause] the complexity of this field [Relation] cause [Effect] even similar tools have been difficult for other firms to engineer",
    "gold": "[Cause] the complexity of this field [Relation] enable [Effect] even similar tools have been difficult for other firms to engineer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, even similar tools have been difficult for other firms to engineer, given the complexity of this field, leaving Illumina the dominant player in high-throughput applications and with limited competition in lower-throughput fields, such as Thermo Fisher Scientific.",
    "output": "[Cause] the complexity of this field [Relation] cause [Effect] even similar tools have been difficult for other firms to engineer",
    "gold": "[Cause] even similar tools have been difficult for other firms to engineer [Relation] cause [Effect] leaving Illumina the dominant player in high-throughput applications and with limited competition in lower-throughput fields, such as Thermo Fisher Scientific",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although we expect the medical market to shrink because of recreational legalization, we forecast more than 10% average annual growth for the entire Canadian market through 2030, driven by the conversion of black-market consumers into the legal market and new cannabis consumers.",
    "output": "[Cause] recreational legalization [Relation] cause [Effect] the medical market to shrink",
    "gold": "[Cause]  recreational legalization [Relation] cause [Effect] the medical market to shrink",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we expect the medical market to shrink because of recreational legalization, we forecast more than 10% average annual growth for the entire Canadian market through 2030, driven by the conversion of black-market consumers into the legal market and new cannabis consumers.",
    "output": "[Cause] the conversion of black-market consumers into the legal market and new cannabis consumers [Relation] cause [Effect] more than 10% average annual growth for the entire Canadian market through 2030",
    "gold": "[Cause] the conversion of black-market consumers into the legal market and new cannabis consumers [Relation] enable [Effect] more than 10% average annual growth for the entire Canadian market through 2030",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "New project startups during the next three years in Brazil, the North Sea, and Gulf of Mexico create an opportunity for Equinor to leverage its offshore operating experience to generate additional volume growth.",
    "output": "[Cause] New project startups during the next three years in Brazil, the North Sea, and Gulf of Mexico [Relation] enable [Effect] Equinor to leverage its offshore operating experience to generate additional volume growth",
    "gold": "[Cause] New project startups during the next three years in Brazil, the North Sea, and Gulf of Mexico [Relation] enable [Effect] Equinor to leverage its offshore operating experience to generate additional volume growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While significant consolidation has taken place, WPP will continue to operate as a holding company, allowing the acquired agencies to maintain their reputations under their own brands and strengthen their relationships with clients.",
    "output": "[Cause] WPP will continue to operate as a holding company [Relation] enable [Effect] the acquired agencies to maintain their reputations under their own brands and strengthen their relationships with clients",
    "gold": "[Cause] WPP will continue to operate as a holding company [Relation] enable [Effect] the acquired agencies to maintain their reputations under their own brands and strengthen their relationships with clients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's decoupled offerings have high switching costs given they perform tasks associated with a high cost of failure.",
    "output": "[Cause] they perform tasks associated with a high cost of failure [Relation] cause [Effect] The firm's decoupled offerings have high switching costs",
    "gold": "[Cause]  they perform tasks associated with a high cost of failure [Relation] cause [Effect] The firm's decoupled offerings have high switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A pipeline of development projects will offset the decline at some older legacy mines and keep cost inflation in check.",
    "output": "[Cause] A pipeline of development projects [Relation] enable [Effect] offset the decline at some older legacy mines and keep cost inflation in check",
    "gold": "[Cause] A pipeline of development projects [Relation] enable [Effect]  offset the decline at some older legacy mines and keep cost inflation in check",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect InterContinental's brand and switching cost advantage to strengthen, driven by new hotel brands, renovation of existing properties, technology integration, and a leading loyalty program, which all drive developer and traveler demand for the company.",
    "output": "[Cause] new hotel brands, renovation of existing properties, technology integration, and a leading loyalty program [Relation] cause [Effect] InterContinental's brand and switching cost advantage to strengthen",
    "gold": "[Cause] driven by new hotel brands, renovation of existing properties, technology integration, and a leading loyalty program [Relation] enable [Effect] drive developer and traveler demand for the company",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Risks surrounding additional waves of COVID-19 cases and elongated time until an effective treatment and vaccine are widely distributed remain, which could delay our forecast recovery in demand.",
    "output": "[Cause] Risks surrounding additional waves of COVID-19 cases and elongated time until an effective treatment and vaccine are widely distributed remain [Relation] prevent [Effect] delay our forecast recovery in demand",
    "gold": "[Cause] Risks surrounding additional waves of COVID-19 cases and elongated time until an effective treatment and vaccine are widely distributed remain [Relation] cause [Effect] delay our forecast recovery in demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Aside from a down year in 2020 amid a coronavirus-fueled economic contraction, we have a positive outlook for Trane's growth prospects, driven by what we see as long-term global trends in urbanization and sustainability.",
    "output": "[Cause] a coronavirus-fueled economic contraction [Relation] cause [Effect] a down year in 2020",
    "gold": "[Cause]  what we see as long-term global trends in urbanization and sustainability [Relation] enable [Effect] a positive outlook for Trane's growth prospects",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Aside from a down year in 2020 amid a coronavirus-fueled economic contraction, we have a positive outlook for Trane's growth prospects, driven by what we see as long-term global trends in urbanization and sustainability.",
    "output": "[Cause] long-term global trends in urbanization and sustainability [Relation] cause [Effect] we have a positive outlook for Trane's growth prospects",
    "gold": "[Cause]  a coronavirus-fueled economic contraction [Relation] cause [Effect]  a down year in 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Globalization of businesses in various verticals has increased demand not only for vertical-specific advertising expertise, but also for experience and clearer understanding of different cultures and regulations within the geographic regions in which businesses want to market and sell their products. For this reason, IPG and the other largest ad holding companies have consistently acquired smaller local ad agencies and quickly gained traction in other international markets.",
    "output": "[Cause] Globalization of businesses in various verticals has increased demand not only for vertical-specific advertising expertise, but also for experience and clearer understanding of different cultures and regulations within the geographic regions in which businesses want to market and sell their products [Relation] cause [Effect] IPG and the other largest ad holding companies have consistently acquired smaller local ad agencies and quickly gained traction in other international markets",
    "gold": "[Cause] Globalization of businesses in various verticals has increased demand not only for vertical-specific advertising expertise, but also for experience and clearer understanding of different cultures and regulations within the geographic regions in which businesses want to market and sell their products [Relation] cause [Effect] IPG and the other largest ad holding companies have consistently acquired smaller local ad agencies and quickly gained traction in other international markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm has expanded globally and widened its portfolio of capabilities with 21 acquisitions since 1997 but maintained returns above its cost of capital.",
    "output": "[Cause] The firm has expanded globally and widened its portfolio of capabilities with 21 acquisitions since 1997 [Relation] enable [Effect] maintained returns above its cost of capital",
    "gold": "[Cause] 21 acquisitions since 1997 [Relation] enable [Effect] expanded globally and widened its portfolio of capabilities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We project that overall revenue for 2021 will still be 36% below 2019 as the Imax global box office rebounds by 137% to about $610 million, down 45% from 2019.",
    "output": "[Cause] the Imax global box office rebounds by 137% to about $610 million, down 45% from 2019 [Relation] cause [Effect] overall revenue for 2021 will still be 36% below 2019",
    "gold": "[Cause] the Imax global box office rebounds by 137% to about $610 million, down 45% from 2019 [Relation] cause [Effect] overall revenue for 2021 will still be 36% below 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the intermodal value proposition remains strong thanks to secular constraints on over-the-road truckload capacity, truck-to-rail conversion activity can decline in the short run when diesel fuel prices plummet.",
    "output": "[Cause] secular constraints on over-the-road truckload capacity [Relation] cause [Effect] the intermodal value proposition remains strong",
    "gold": "[Cause] secular constraints on over-the-road truckload capacity [Relation] cause [Effect]  the intermodal value proposition remains strong",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the intermodal value proposition remains strong thanks to secular constraints on over-the-road truckload capacity, truck-to-rail conversion activity can decline in the short run when diesel fuel prices plummet.",
    "output": "[Cause] truck-to-rail conversion activity can decline in the short run [Relation] cause [Effect] diesel fuel prices plummet",
    "gold": "[Cause]  diesel fuel prices plummet [Relation] cause [Effect]  truck-to-rail conversion activity can decline in the short run",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Such overall enhancement in service could help the firm strengthen its network effect by increasing users and ride requests per user, which helps Uber gather additional data, possibly further increasing the overall value of the data.",
    "output": "[Cause] overall enhancement in service [Relation] enable [Effect] the firm strengthen its network effect by increasing users and ride requests per user",
    "gold": "[Cause] increasing users and ride requests per user [Relation] enable [Effect] the firm strengthen its network effect",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Risks remain regarding an elongated time until vaccines are widely distributed globally, which could delay our forecast recovery in demand.",
    "output": "[Cause] Risks remain regarding an elongated time until vaccines are widely distributed globally [Relation] cause [Effect] delay our forecast recovery in demand",
    "gold": "[Cause] Risks remain regarding an elongated time until vaccines are widely distributed globally [Relation] cause [Effect] delay our forecast recovery in demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At times during the commodity market cycle, Vistra might create exceptional value for shareholders, but this could be fleeting if commodity markets turn.",
    "output": "[Cause] commodity markets turn [Relation] cause [Effect] Vistra might create exceptional value for shareholders",
    "gold": "[Cause] commodity markets turn [Relation] prevent [Effect] Vistra might create exceptional value for shareholders",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In October 2020, Bed Bath & Beyond put forth an updated strategy to revitalize its brand and regain customer confidence by focusing on its core properties. As such, the company had executed on plans to divest peripheral brands such as Cost Plus and focus on the Bed Bath & Beyond, Buy Buy Baby, Harmon Face Value, and Decorist labels.",
    "output": "[Cause] Bed Bath & Beyond put forth an updated strategy to revitalize its brand and regain customer confidence by focusing on its core properties [Relation] cause [Effect] the company had executed on plans to divest peripheral brands such as Cost Plus and focus on the Bed Bath & Beyond, Buy Buy Baby, Harmon Face Value, and Decorist labels",
    "gold": "[Cause] Bed Bath & Beyond put forth an updated strategy to revitalize its brand and regain customer confidence by focusing on its core properties [Relation] cause [Effect]  the company had executed on plans to divest peripheral brands such as Cost Plus and focus on the Bed Bath & Beyond, Buy Buy Baby, Harmon Face Value, and Decorist labels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company has been unable to convert brand recognition into market share growth, and we view this as a considerable risk.",
    "output": "[Cause] The company has been unable to convert brand recognition into market share growth [Relation] cause [Effect] a considerable risk",
    "gold": "[Cause] The company has been unable to convert brand recognition into market share growth [Relation] cause [Effect] a considerable risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect average revenue per member in APAC to decline slightly as the firm adds more subscribers from lower-priced emerging markets, offsetting pricing increases in more mature countries.",
    "output": "[Cause] the firm adds more subscribers from lower-priced emerging markets, offsetting pricing increases in more mature countries [Relation] cause [Effect] average revenue per member in APAC to decline slightly",
    "gold": "[Cause] the firm adds more subscribers from lower-priced emerging markets, offsetting pricing increases in more mature countries [Relation] cause [Effect] average revenue per member in APAC to decline slightly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fortunately, the Bath &amp; Body Works segment (54% of 2020 revenue) has seen the ability to connect with its consumers remain, supporting brand relevance.",
    "output": "[Cause] the Bath &amp; Body Works segment (54% of 2020 revenue) has seen the ability to connect with its consumers remain [Relation] enable [Effect] supporting brand relevance",
    "gold": "[Cause]  the Bath &amp; Body Works segment (54% of 2020 revenue) has seen the ability to connect with its consumers remain [Relation] enable [Effect]  supporting brand relevance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because data architectures are even more fundamental and mission critical to a business than the very enterprise software that accesses the data that is stored, we think switching costs are even stronger in the realm of data architecture compared with other enterprise software.",
    "output": "[Cause] data architectures are even more fundamental and mission critical to a business than the very enterprise software that accesses the data that is stored [Relation] cause [Effect] switching costs are even stronger in the realm of data architecture compared with other enterprise software",
    "gold": "[Cause]  data architectures are even more fundamental and mission critical to a business than the very enterprise software that accesses the data that is stored [Relation] cause [Effect] switching costs are even stronger in the realm of data architecture compared with other enterprise software",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This is exacerbated by ever-improving means for consumers to access them, driven by mobility and continuing device innovation. Consequently, News Corporation, with almost 30% of its core operating earnings still sourced from the print publishing industry, faces enormous structural headwinds, with consumers migrating from newspapers to the digital arena and advertisers following suit.",
    "output": "[Cause] This is exacerbated by ever-improving means for consumers to access them, driven by mobility and continuing device innovation [Relation] cause [Effect] News Corporation, with almost 30% of its core operating earnings still sourced from the print publishing industry, faces enormous structural headwinds, with consumers migrating from newspapers to the digital arena and advertisers following suit",
    "gold": "[Cause] This is exacerbated by ever-improving means for consumers to access them, driven by mobility and continuing device innovation [Relation] cause [Effect] News Corporation, with almost 30% of its core operating earnings still sourced from the print publishing industry, faces enormous structural headwinds, with consumers migrating from newspapers to the digital arena and advertisers following suit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As alcohol consumption has negative public health connotations, governments sometimes use the industry as way to raise taxes with minimum political risk.",
    "output": "[Cause] alcohol consumption has negative public health connotations [Relation] cause [Effect] governments sometimes use the industry as way to raise taxes with minimum political risk",
    "gold": "[Cause] alcohol consumption has negative public health connotations [Relation] cause [Effect] governments sometimes use the industry as way to raise taxes with minimum political risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It also reassessed its portfolio, resulting in the closure of its poorly positioned Gallup, NM and Martinez, CA, petroleum refineries, both acquired with Andeavor.",
    "output": "[Cause] It also reassessed its portfolio [Relation] cause [Effect] the closure of its poorly positioned Gallup, NM and Martinez, CA, petroleum refineries, both acquired with Andeavor",
    "gold": "[Cause] It also reassessed its portfolio [Relation] cause [Effect] the closure of its poorly positioned Gallup, NM and Martinez, CA, petroleum refineries, both acquired with Andeavor",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The division offers a broad portfolio of industrial hardware and software that are integrated with customer operations, making them costly to switch out because of downtime.",
    "output": "[Cause] The division offers a broad portfolio of industrial hardware and software that are integrated with customer operations [Relation] cause [Effect] costly to switch out",
    "gold": "[Cause] downtime [Relation] cause [Effect] making them costly to switch out",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Meanwhile, the delicate balance between supply and demand remains a formidable concern, with bouts of oversupply crippling margins and times of undersupply leading to overexpansion.",
    "output": "[Cause] the delicate balance between supply and demand remains a formidable concern [Relation] cause [Effect] crippling margins",
    "gold": "[Cause]  times of undersupply [Relation] cause [Effect] leading to overexpansion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Meanwhile, the delicate balance between supply and demand remains a formidable concern, with bouts of oversupply crippling margins and times of undersupply leading to overexpansion.",
    "output": "[Cause] times of undersupply [Relation] cause [Effect] overexpansion",
    "gold": "[Cause]  bouts of oversupply [Relation] cause [Effect]  crippling margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Agco was formed through a series of acquisitions over the years, which we think has made it difficult for the company to rally around multiple brands.",
    "output": "[Cause] Agco was formed through a series of acquisitions over the years [Relation] cause [Effect] difficult for the company to rally around multiple brands",
    "gold": "[Cause] a series of acquisitions over the years [Relation] enable [Effect] Agco was formed",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "An example is Nice InContact CTI for ServiceNow, which allows seamless integration between ServiceNow's and Nice's platforms and supports intelligent routing, so agents do not have to constantly navigate between different applications.",
    "output": "[Cause] Nice InContact CTI for ServiceNow [Relation] enable [Effect] seamless integration between ServiceNow's and Nice's platforms and supports intelligent routing, so agents do not have to constantly navigate between different applications",
    "gold": "[Cause]  allows seamless integration between ServiceNow's and Nice's platforms | supports intelligent routin [Relation] cause [Effect] agents do not have to constantly navigate between different applications",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Still, Movil and its primary shareholders, the Slim family, are likely to garner regulatory scrutiny in Mexico from time to time as officials seek to increase network investment and service adoption.",
    "output": "[Cause] officials seek to increase network investment and service adoption [Relation] cause [Effect] Movil and its primary shareholders, the Slim family, are likely to garner regulatory scrutiny in Mexico from time to time",
    "gold": "[Cause] officials seek to increase network investment and service adoption [Relation] cause [Effect]  Movil and its primary shareholders, the Slim family, are likely to garner regulatory scrutiny in Mexico from time to time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Plain packaging is different, however, because we believe it could lead to trading down, and an erosion of cigarette pricing power.",
    "output": "[Cause] Plain packaging is different [Relation] cause [Effect] trading down, and an erosion of cigarette pricing power",
    "gold": "[Cause] Plain packaging is different [Relation] cause [Effect]  trading down, and an erosion of cigarette pricing power",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In potash, long-term prices could fall if new low-cost supply ramps up faster than the growth in demand, reducing the marginal cost of supply.",
    "output": "[Cause] new low-cost supply ramps up faster than the growth in demand [Relation] cause [Effect] long-term prices could fall",
    "gold": "[Cause] new low-cost supply ramps up faster than the growth in demand [Relation] cause [Effect] long-term prices could fall",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In potash, long-term prices could fall if new low-cost supply ramps up faster than the growth in demand, reducing the marginal cost of supply.",
    "output": "[Cause] long-term prices could fall [Relation] cause [Effect] reducing the marginal cost of supply",
    "gold": "[Cause] long-term prices could fall [Relation] enable [Effect] reducing the marginal cost of supply",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While SS&C has been an active acquirer, given the uncertain timing and size of acquisitions, we only model for organic growth.",
    "output": "[Cause] the uncertain timing and size of acquisitions [Relation] cause [Effect] we only model for organic growth",
    "gold": "[Cause]  the uncertain timing and size of acquisitions [Relation] cause [Effect] we only model for organic growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After the purchase of Advanced Cell Diagnostic in 2016, and Exosome Diagnostics in 2018, Bio-Techne has posted lower operating margin, both from the higher operating expenses of the acquired firms and temporary costs related to scaling up smaller, acquired products.",
    "output": "[Cause] the higher operating expenses of the acquired firms and temporary costs related to scaling up smaller, acquired products [Relation] cause [Effect] After the purchase of Advanced Cell Diagnostic in 2016, and Exosome Diagnostics in 2018, Bio-Techne has posted lower operating margin",
    "gold": "[Cause]  the higher operating expenses of the acquired firms and temporary costs related to scaling up smaller, acquired products [Relation] cause [Effect] After the purchase of Advanced Cell Diagnostic in 2016, and Exosome Diagnostics in 2018, Bio-Techne has posted lower operating margin",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There tends to be a high level of primacy placed on taste, with many consumers being quite discerning and opinionated in their preferences, as small variations in the roast, grind, or brew can have nontrivial impacts on the final product.",
    "output": "[Cause] small variations in the roast, grind, or brew [Relation] cause [Effect] nontrivial impacts on the final product",
    "gold": "[Cause] small variations in the roast, grind, or brew [Relation] cause [Effect] nontrivial impacts on the final product",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There tends to be a high level of primacy placed on taste, with many consumers being quite discerning and opinionated in their preferences, as small variations in the roast, grind, or brew can have nontrivial impacts on the final product.",
    "output": "[Cause] small variations in the roast, grind, or brew [Relation] cause [Effect] have nontrivial impacts on the final product",
    "gold": "[Cause] many consumers being quite discerning and opinionated in their preferences [Relation] cause [Effect] a high level of primacy placed on taste",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In 2020, Equinix generated 17% of its revenue from interconnections, which result from the company charging a fee to directly connect enterprises to each other within data centers or across Equinix data centers.",
    "output": "[Cause] the company charging a fee to directly connect enterprises to each other within data centers or across Equinix data centers [Relation] cause [Effect] Equinix generated 17% of its revenue from interconnections",
    "gold": "[Cause]  the company charging a fee to directly connect enterprises to each other within data centers or across Equinix data centers [Relation] enable [Effect] Equinix generated 17% of its revenue from interconnections",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we view management's cost-cutting, guest experience, and brand portfolio plans as positive steps that should improve operations and extend Darden's reach, we believe the emergence of fast-casual restaurants, the integration of mobile technologies, and consumer demand for off-premises solutions has structurally changed the economics of the U.S.",
    "output": "[Cause] the emergence of fast-casual restaurants, the integration of mobile technologies, and consumer demand for off-premises solutions [Relation] cause [Effect] structurally changed the economics of the U.S",
    "gold": "[Cause] believe the emergence of fast-casual restaurants, the integration of mobile technologies [Relation] cause [Effect] consumer demand for off-premises solutions has structurally changed the economics of the U.S",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, digital ads generally have much higher return on investment, as they can be more targeted due to the availability of data on specific user behavior, which increases the probability that the ad will result in a sale.",
    "output": "[Cause] the availability of data on specific user behavior [Relation] cause [Effect] they can be more targeted",
    "gold": "[Cause]  they can be more targeted [Relation] cause [Effect]  digital ads generally have much higher return on investment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, digital ads generally have much higher return on investment, as they can be more targeted due to the availability of data on specific user behavior, which increases the probability that the ad will result in a sale.",
    "output": "[Cause] they can be more targeted due to the availability of data on specific user behavior [Relation] cause [Effect] increases the probability that the ad will result in a sale",
    "gold": "[Cause]  the availability of data on specific user behavior [Relation] enable [Effect]  they can be more targeted",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Continued Transco pipeline expansions and the 2018 consolidation of William Partners have improved Williams' financial position and lowered its cost of capital.",
    "output": "[Cause] Continued Transco pipeline expansions and the 2018 consolidation of William Partners [Relation] enable [Effect] improved Williams' financial position and lowered its cost of capital",
    "gold": "[Cause] Continued Transco pipeline expansions and the 2018 consolidation of William Partners [Relation] enable [Effect] improved Williams' financial position and lowered its cost of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the new emphasis on large-scale device registries, the orthopedic companies may find themselves fielding more recalls, as this data gathering will probably surface more product problems earlier than current mechanisms do.",
    "output": "[Cause] this data gathering will probably surface more product problems earlier than current mechanisms do [Relation] cause [Effect] the orthopedic companies may find themselves fielding more recalls",
    "gold": "[Cause] this data gathering will probably surface more product problems earlier than current mechanisms do [Relation] cause [Effect]  the orthopedic companies may find themselves fielding more recalls",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The size and scale of its operations, the strength of its brands, and the diversity of its AUM by asset class, distribution channel, and geographic reach also provide Ameriprise with a leg up over competitors.",
    "output": "[Cause] The size and scale of its operations, the strength of its brands, and the diversity of its AUM by asset class, distribution channel, and geographic reach [Relation] enable [Effect] provide Ameriprise with a leg up over competitors",
    "gold": "[Cause] The size and scale of its operations, the strength of its brands, and the diversity of its AUM by asset class, distribution channel, and geographic reach [Relation] cause [Effect]  provide Ameriprise with a leg up over competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given fluctuations in supply and demand cycles, we expect swings in top- and bottom-line performance and accordingly anticipate that the firm's long-term profitability will be somewhat limited by the cyclical, commoditylike nature of the memory industry.",
    "output": "[Cause] fluctuations in supply and demand cycles [Relation] cause [Effect] swings in top- and bottom-line performance",
    "gold": "[Cause]  fluctuations in supply and demand cycles [Relation] cause [Effect] swings in top- and bottom-line performance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given fluctuations in supply and demand cycles, we expect swings in top- and bottom-line performance and accordingly anticipate that the firm's long-term profitability will be somewhat limited by the cyclical, commoditylike nature of the memory industry.",
    "output": "[Cause] fluctuations in supply and demand cycles [Relation] cause [Effect] the firm's long-term profitability will be somewhat limited by the cyclical, commoditylike nature of the memory industry",
    "gold": "[Cause] swings in top- and bottom-line performance [Relation] cause [Effect] the firm's long-term profitability will be somewhat limited by the cyclical, commoditylike nature of the memory industry",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With a solid positioning in the research model space, Charles River took advantage of its quality brand to pursue preclinical testing as the biopharma industry was increasing the level of outsourced research.",
    "output": "[Cause] the biopharma industry was increasing the level of outsourced research [Relation] cause [Effect] Charles River took advantage of its quality brand to pursue preclinical testing",
    "gold": "[Cause] a solid positioning in the research model space [Relation] enable [Effect] Charles River took advantage of its quality brand to pursue preclinical testing",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The travel solutions and hospitality solutions sales growth rates we model for Sabre assume continued share gains, driven by new technology products that lead to increased integration with its GDS platform, as well as penetration into underrepresented international regions, hotel, and low-cost carrier markets.",
    "output": "[Cause] new technology products [Relation] cause [Effect] increased integration with its GDS platform",
    "gold": "[Cause] new technology products [Relation] enable [Effect] continued share gains",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The travel solutions and hospitality solutions sales growth rates we model for Sabre assume continued share gains, driven by new technology products that lead to increased integration with its GDS platform, as well as penetration into underrepresented international regions, hotel, and low-cost carrier markets.",
    "output": "[Cause] new technology products [Relation] cause [Effect] increased integration with its GDS platform, as well as penetration into underrepresented international regions, hotel, and low-cost carrier markets",
    "gold": "[Cause] new technology products [Relation] enable [Effect] increased integration with its GDS platform, as well as penetration into underrepresented international regions, hotel, and low-cost carrier markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Coca-Cola Femsa's brand cachet is sustained or increased in part because its products are in front of more consumers than its competitors, and Oxxo's ability to maintain and expand its store footprint is augmented by the financial flexibility that the Coca-Cola portfolio affords.",
    "output": "[Cause] its products are in front of more consumers than its competitors [Relation] cause [Effect] Coca-Cola Femsa's brand cachet is sustained or increased",
    "gold": "[Cause] its products are in front of more consumers than its competitors [Relation] cause [Effect] Coca-Cola Femsa's brand cachet is sustained or increased",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Coca-Cola Femsa's brand cachet is sustained or increased in part because its products are in front of more consumers than its competitors, and Oxxo's ability to maintain and expand its store footprint is augmented by the financial flexibility that the Coca-Cola portfolio affords.",
    "output": "[Cause] the financial flexibility that the Coca-Cola portfolio affords [Relation] enable [Effect] Oxxo's ability to maintain and expand its store footprint",
    "gold": "[Cause] the financial flexibility that the Coca-Cola portfolio affords [Relation] cause [Effect] Oxxo's ability to maintain and expand its store footprint",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect companywide margins to improve as Cushman & Wakefield works to successfully integrate the various acquisitions it has made over the past several years.",
    "output": "[Cause] Cushman & Wakefield works to successfully integrate the various acquisitions it has made over the past several years [Relation] cause [Effect] companywide margins to improve",
    "gold": "[Cause] Cushman & Wakefield works to successfully integrate the various acquisitions it has made over the past several years [Relation] cause [Effect] companywide margins to improve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although cost synergies from the acquisition appear to have helped the company maintain its margins, the pandemic resulted in a modest organic revenue decline in 2020.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] a modest organic revenue decline in 2020",
    "gold": "[Cause] the pandemic [Relation] cause [Effect]  a modest organic revenue decline in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Nomura's traditional approach has less currency with younger generations and the firm needs to enhance its digital offerings to fend off potential competition from Internet firms.",
    "output": "[Cause] Nomura's traditional approach has less currency with younger generations [Relation] cause [Effect] the firm needs to enhance its digital offerings to fend off potential competition from Internet firms",
    "gold": "[Cause] Nomura's traditional approach has less currency with younger generations [Relation] cause [Effect] the firm needs to enhance its digital offerings to fend off potential competition from Internet firms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Steris should benefit as the number of operating room procedures continues to increase and more complex procedures (such as total joint replacements) require more device sterilization.",
    "output": "[Cause] the number of operating room procedures continues to increase and more complex procedures (such as total joint replacements) require more device sterilization [Relation] cause [Effect] Steris should benefit",
    "gold": "[Cause] the number of operating room procedures continues to increase and more complex procedures (such as total joint replacements) require more device sterilization [Relation] cause [Effect] Steris should benefit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, manufacturing contact lenses is a capital-intensive and complicated process, which creates a cost advantage for the top four lens manufacturers, though it does not provide Cooper with a unique advantage.",
    "output": "[Cause] manufacturing contact lenses is a capital-intensive and complicated process [Relation] cause [Effect] creates a cost advantage for the top four lens manufacturers",
    "gold": "[Cause]  creates a cost advantage for the top four lens manufacturers [Relation] cause [Effect]  manufacturing contact lenses is a capital-intensive and complicated process",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think the overall network effect strengthens the positioning of Okta versus peers, and buttresses the potential costs associated with changing providers due to losing critical vendor integrations.",
    "output": "[Cause] losing critical vendor integrations [Relation] cause [Effect] buttresses the potential costs associated with changing providers",
    "gold": "[Cause] overall network effect strengthens the positioning of Okta versus peers [Relation] enable [Effect] buttresses the potential costs associated with changing providers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Accenture also benefits from switching costs, in our opinion, as we think familiarity makes it hard to risk changing consultant or IT outsourcing providers.",
    "output": "[Cause] familiarity [Relation] cause [Effect] hard to risk changing consultant or IT outsourcing providers",
    "gold": "[Cause] we think familiarity makes it hard to risk changing consultant or IT outsourcing providers [Relation] enable [Effect] Accenture also benefits from switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Consolidation across European defense markets has made Airbus's defense unit a top contender among the shortlist of contractors vying for defense work with European countries and their allies.",
    "output": "[Cause] Consolidation across European defense markets [Relation] enable [Effect] Airbus's defense unit a top contender among the shortlist of contractors vying for defense work with European countries and their allies",
    "gold": "[Cause] Consolidation across European defense markets [Relation] cause [Effect] Airbus's defense unit a top contender among the shortlist of contractors vying for defense work with European countries and their allies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The solid top-line performance should come despite intense competition, but the need to continually deliver strong value relative to peers should keep margins from moving materially higher.",
    "output": "[Cause] the need to continually deliver strong value relative to peers [Relation] prevent [Effect] margins from moving materially higher",
    "gold": "[Cause] the need to continually deliver strong value relative to peers [Relation] prevent [Effect] margins from moving materially higher",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nonetheless, against the backdrop of a consolidating electronic components industry, Littelfuse may be forced to overpay for M&A targets in order to achieve its top-line growth target, or risk being outbid and losing market opportunities.",
    "output": "[Cause] achieve its top-line growth target [Relation] cause [Effect] Littelfuse may be forced to overpay for M&A targets",
    "gold": "[Cause] achieve its top-line growth target [Relation] enable [Effect] Littelfuse may be forced to overpay for M&A targets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nonetheless, against the backdrop of a consolidating electronic components industry, Littelfuse may be forced to overpay for M&A targets in order to achieve its top-line growth target, or risk being outbid and losing market opportunities.",
    "output": "[Cause] achieve its top-line growth target [Relation] cause [Effect] Littelfuse may be forced to overpay for M&A targets",
    "gold": "[Cause] achieve its top-line growth target [Relation] cause [Effect] risk being outbid and losing market opportunities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, due to the highly fragmented nature of the scrap industry, the company holds only a fraction of the total market share.",
    "output": "[Cause] the highly fragmented nature of the scrap industry [Relation] cause [Effect] the company holds only a fraction of the total market share",
    "gold": "[Cause] the highly fragmented nature of the scrap industry [Relation] prevent [Effect] the company holds only a fraction of the total market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Physicians typically have strong relationships with manufacturers and are not likely to change the brand of lens they prescribe to a given customer. This is largely due to familiarity with the product, safety considerations, and the incentive structure in which many optometrists receive manufacturer rebates that are tied to their practice's sales volume for a specific manufacturer.",
    "output": "[Cause] familiarity with the product, safety considerations, and the incentive structure in which many optometrists receive manufacturer rebates that are tied to their practice's sales volume for a specific manufacturer [Relation] cause [Effect] Physicians typically have strong relationships with manufacturers and are not likely to change the brand of lens they prescribe to a given customer",
    "gold": "[Cause]  familiarity with the product, safety considerations, and the incentive structure in which many optometrists receive manufacturer rebates that are tied to their practice's sales volume for a specific manufacturer [Relation] cause [Effect] Physicians typically have strong relationships with manufacturers and are not likely to change the brand of lens they prescribe to a given customer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Second, the shelter-in-place orders related to COVID-19 caused massive layoffs, and if those unemployed people lose their health insurance for a sustained period, Anthem's employer-based insurance rolls could fall more than expected.",
    "output": "[Cause] the shelter-in-place orders related to COVID-19 [Relation] cause [Effect] massive layoffs",
    "gold": "[Cause]  the shelter-in-place orders related to COVID-19 [Relation] cause [Effect] massive layoffs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Second, the shelter-in-place orders related to COVID-19 caused massive layoffs, and if those unemployed people lose their health insurance for a sustained period, Anthem's employer-based insurance rolls could fall more than expected.",
    "output": "[Cause] those unemployed people lose their health insurance for a sustained period [Relation] cause [Effect] Anthem's employer-based insurance rolls could fall more than expected",
    "gold": "[Cause] those unemployed people lose their health insurance for a sustained period [Relation] enable [Effect] Anthem's employer-based insurance rolls could fall more than expected",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, we think Biogen's top line will return to 2020 levels by 2023, with steep declines in 2021 due to generic Tecfidera but growth returning in 2022 as Aduhelm launches.",
    "output": "[Cause] generic Tecfidera [Relation] cause [Effect] steep declines in 2021",
    "gold": "[Cause]  generic Tecfidera [Relation] cause [Effect]  steep declines in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, we think Biogen's top line will return to 2020 levels by 2023, with steep declines in 2021 due to generic Tecfidera but growth returning in 2022 as Aduhelm launches.",
    "output": "[Cause] Aduhelm launches [Relation] cause [Effect] growth returning in 2022",
    "gold": "[Cause] Aduhelm launches [Relation] enable [Effect] growth returning in 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, Corteva's Enlist (soybean) and Qrome (corn) genetically modified platforms set the company up for long-term success as GM seeds are adopted in emerging markets.",
    "output": "[Cause] GM seeds are adopted in emerging markets [Relation] cause [Effect] Corteva's Enlist (soybean) and Qrome (corn) genetically modified platforms set the company up for long-term success",
    "gold": "[Cause] GM seeds are adopted in emerging markets [Relation] cause [Effect] Corteva's Enlist (soybean) and Qrome (corn) genetically modified platforms set the company up for long-term success",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe alignment like this between payers and providers could help rein in healthcare cost trends in the U.S., which should benefit clients and end users alike.",
    "output": "[Cause] alignment like this between payers and providers [Relation] enable [Effect] help rein in healthcare cost trends in the U.S., which should benefit clients and end users alike",
    "gold": "[Cause] alignment like this between payers and providers [Relation] cause [Effect] help rein in healthcare cost trends in the U.S., which should benefit clients and end users alike",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While this is still a short-cycle business, and we have little visibility on near-term sales growth for the entire portfolio, we're confident growth in volumes will continue to support additional operating leverage.",
    "output": "[Cause] growth in volumes [Relation] enable [Effect] support additional operating leverage",
    "gold": "[Cause] growth in volumes [Relation] enable [Effect] support additional operating leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Similarly, supply and thus flows are less volatile as it is aggregated by a refinery versus multiple gathering and processing units linked to levels of drilling activity.",
    "output": "[Cause] it is aggregated by a refinery versus multiple gathering and processing units linked to levels of drilling activity [Relation] cause [Effect] supply and thus flows are less volatile",
    "gold": "[Cause] it is aggregated by a refinery versus multiple gathering and processing units linked to levels of drilling activity [Relation] cause [Effect] supply and thus flows are less volatile",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Franchise and managed properties are higher-margin and less capital-intensive than owned properties, and InterContinental's high exposure here results in higher relative ROIC and EBI growth versus having a larger ownership mix.",
    "output": "[Cause] Franchise and managed properties are higher-margin and less capital-intensive than owned properties [Relation] cause [Effect] higher relative ROIC and EBI growth versus having a larger ownership mix",
    "gold": "[Cause] Franchise and managed properties are higher-margin and less capital-intensive than owned properties [Relation] cause [Effect]  higher relative ROIC and EBI growth versus having a larger ownership mix",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Edison's plans for $5 billion of annual capital investment and good regulatory support will generate 6% annual earnings growth beyond 2021.",
    "output": "[Cause] Edison's plans for $5 billion of annual capital investment and good regulatory support [Relation] enable [Effect] generate 6% annual earnings growth beyond 2021",
    "gold": "[Cause] Edison's plans for $5 billion of annual capital investment and good regulatory support [Relation] cause [Effect] generate 6% annual earnings growth beyond 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There are indirect costs along those same lines, mainly lost productivity as customers move up a learning curve on the new system along with the distraction of users involved in the function where the change is occurring.",
    "output": "[Cause] customers move up a learning curve on the new system along with the distraction of users involved in the function where the change is occurring [Relation] cause [Effect] There are indirect costs along those same lines",
    "gold": "[Cause] customers move up a learning curve on the new system along with the distraction of users involved in the function where the change is occurring [Relation] cause [Effect] lost productivity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast a five-year revenue CAGR of 47% through a rapidly growing customer base, more massive deals, strong retention rates, and customers buying additional security modules over time.",
    "output": "[Cause] a rapidly growing customer base, more massive deals, strong retention rates, and customers buying additional security modules over time [Relation] enable [Effect] a five-year revenue CAGR of 47%",
    "gold": "[Cause] more massive deals, strong retention rates, and customers buying additional security modules over time [Relation] cause [Effect]  five-year revenue CAGR of 47% through a rapidly growing customer base",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although these technologies might not be enough to underpin a moat in and of themselves, they help strengthen the company's broader intangible asset moat source. These proprietary technologies include Smoothenol (taste modification), Natural Origins (highly concentrated extracts), DairyBoost (dairy flavors), SensaSalt (yeast extracts that enhance flavor while reducing sodium content), and Heatenol/Coolenol (cool, heat, tingling sensations).",
    "output": "[Cause] These proprietary technologies include Smoothenol (taste modification), Natural Origins (highly concentrated extracts), DairyBoost (dairy flavors), SensaSalt (yeast extracts that enhance flavor while reducing sodium content), and Heatenol/Coolenol (cool, heat, tingling sensations) [Relation] enable [Effect] strengthen the company's broader intangible asset moat source",
    "gold": "[Cause] Although these technologies might not be enough to underpin a moat in and of themselves, they help strengthen the company's broader intangible asset moat source [Relation] cause [Effect] These proprietary technologies include Smoothenol (taste modification), Natural Origins (highly concentrated extracts), DairyBoost (dairy flavors), SensaSalt (yeast extracts that enhance flavor while reducing sodium content), and Heatenol/Coolenol (cool, heat, tingling sensations)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The dealer knows the vehicle, and comparison-shopping for repair work is very time-consuming, as the customer has to bring the vehicle to each shop to get a quote.",
    "output": "[Cause] the customer has to bring the vehicle to each shop to get a quote [Relation] cause [Effect] comparison-shopping for repair work is very time-consuming",
    "gold": "[Cause]  the customer has to bring the vehicle to each shop to get a quote [Relation] cause [Effect] comparison-shopping for repair work is very time-consuming",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Premier Protein shakes have been gaining share, and we expect robust growth through 2022 as the firm expands distribution of new products.",
    "output": "[Cause] the firm expands distribution of new products [Relation] cause [Effect] robust growth through 2022",
    "gold": "[Cause] the firm expands distribution of new products [Relation] enable [Effect]  robust growth through 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we don't believe a decrease in R&D spending or outsourcing is likely in the near term, all CROs are exposed to these risks if biopharma funding is constrained, if there are changes in the drug-approval regulatory landscape, or if the biopharma industry faces other macroeconomic headwinds.",
    "output": "[Cause] biopharma funding is constrained [Relation] cause [Effect] all CROs are exposed to these risks",
    "gold": "[Cause] biopharma funding is constrained [Relation] cause [Effect] all CROs are exposed to these risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we don't believe a decrease in R&D spending or outsourcing is likely in the near term, all CROs are exposed to these risks if biopharma funding is constrained, if there are changes in the drug-approval regulatory landscape, or if the biopharma industry faces other macroeconomic headwinds.",
    "output": "[Cause] biopharma funding is constrained [Relation] cause [Effect] all CROs are exposed to these risks",
    "gold": "[Cause] the biopharma industry faces other macroeconomic headwinds [Relation] cause [Effect] all CROs are exposed to these risks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Failing to comply and unsuccessful automation efforts from more generic software providers have led government contractors to incur extensive losses of time and money.",
    "output": "[Cause] Failing to comply and unsuccessful automation efforts from more generic software providers [Relation] cause [Effect] government contractors to incur extensive losses of time and money",
    "gold": "[Cause] Failing to comply and unsuccessful automation efforts from more generic software providers [Relation] cause [Effect] government contractors to incur extensive losses of time and money",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Take-Two runs an online digital storefront along with servers for its titles. As a result, the firm captures and retains important data about its customers including credit card numbers, email, and mailing addresses.",
    "output": "[Cause] Take-Two runs an online digital storefront along with servers for its titles [Relation] cause [Effect] the firm captures and retains important data about its customers including credit card numbers, email, and mailing addresses",
    "gold": "[Cause] Take-Two runs an online digital storefront along with servers for its titles [Relation] cause [Effect] the firm captures and retains important data about its customers including credit card numbers, email, and mailing addresses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "More recently, Hyatt's intangible asset advantage is evident by the increasing mix of third-party development funding, which shows growing confidence in the company's portfolio of brands.",
    "output": "[Cause] the increasing mix of third-party development funding [Relation] enable [Effect] Hyatt's intangible asset advantage",
    "gold": "[Cause] growing confidence in the company's portfolio of brands [Relation] cause [Effect]  Hyatt's intangible asset advantage is evident by the increasing mix of third-party development funding",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The epicenter of the coronavirus outbreak was New York City at the outset of the crisis, which may dent the city's reputation as a premier location for office workers.",
    "output": "[Cause] The epicenter of the coronavirus outbreak was New York City at the outset of the crisis [Relation] cause [Effect] dent the city's reputation as a premier location for office workers",
    "gold": "[Cause] The epicenter of the coronavirus outbreak was New York City at the outset of the crisis [Relation] enable [Effect]  dent the city's reputation as a premier location for office workers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, the newly acquired Maverick Boat Group brings exposure to more than 70 dealers to the corporate mix, potentially helping expand Pursuit's brand reach in 2021.",
    "output": "[Cause] the newly acquired Maverick Boat Group brings exposure to more than 70 dealers to the corporate mix [Relation] enable [Effect] expand Pursuit's brand reach in 2021",
    "gold": "[Cause] the newly acquired Maverick Boat Group brings exposure to more than 70 dealers to the corporate mix [Relation] enable [Effect] expand Pursuit's brand reach in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Certain types of medical waste, including that which contains heavy metals or is radioactive, must be treated in external facilities.",
    "output": "[Cause] Certain types of medical waste, including that which contains heavy metals or is radioactive [Relation] cause [Effect] must be treated in external facilities",
    "gold": "[Cause] Certain types of medical waste, including that which contains heavy metals or is radioactive [Relation] cause [Effect] must be treated in external facilities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In Colombia, Movil was forced to pay $1 billion in 2017 to settle claims related to its original concession to operate in the country, which was signed in 1994.",
    "output": "[Cause] settle claims related to its original concession to operate in the country, which was signed in 1994 [Relation] cause [Effect] Movil was forced to pay $1 billion in 2017",
    "gold": "[Cause] settle claims related to its original concession to operate in the country, which was signed in 1994 [Relation] cause [Effect] Movil was forced to pay $1 billion in 2017",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We opine that identity security is equally fraught with challenges, as consumers have a variety of options for identity protection or choose to forgo paid identity protection entirely.",
    "output": "[Cause] consumers have a variety of options for identity protection or choose to forgo paid identity protection entirely [Relation] cause [Effect] identity security is equally fraught with challenges",
    "gold": "[Cause] consumers have a variety of options for identity protection or choose to forgo paid identity protection entirely [Relation] cause [Effect] identity security is equally fraught with challenges",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Perhaps more importantly, given Primo's size and the fragmented nature of the home and office water delivery market, the firm can compete on price.",
    "output": "[Cause] Primo's size and the fragmented nature of the home and office water delivery market [Relation] enable [Effect] the firm can compete on price",
    "gold": "[Cause] Primo's size and the fragmented nature of the home and office water delivery market [Relation] cause [Effect] the firm can compete on price",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, as the coronavirus decimates the on-premise channel, skewing the mix even more to Truly and Twisted Tea (which have de minimis keg exposure), we expect gross margins to hit a nadir in 2020.",
    "output": "[Cause] the coronavirus decimates the on-premise channel [Relation] cause [Effect] skewing the mix even more to Truly and Twisted Tea (which have de minimis keg exposure)",
    "gold": "[Cause]  the coronavirus decimates the on-premise channel [Relation] cause [Effect] skewing the mix even more to Truly and Twisted Tea (which have de minimis keg exposure)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The transition is expected to be a ''''''''multiyear journey'''''''' as an operating agreement with PayPal (which will continue to be a payment option for buyers at checkout) expired in July 2020.",
    "output": "[Cause] an operating agreement with PayPal (which will continue to be a payment option for buyers at checkout) expired in July 2020 [Relation] cause [Effect] The transition is expected to be a ''''''multiyear journey''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''",
    "gold": "[Cause] The transition is expected to be a ''''''''multiyear journey [Relation] cause [Effect] expired in July 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Despite that we believe that expansion on business lineups and coverage aggressively is likely to be loss-making in the early stages, we believe it shall improve over time.",
    "output": "[Cause] expansion on business lineups and coverage aggressively [Relation] cause [Effect] loss-making in the early stages",
    "gold": "[Cause] over time [Relation] enable [Effect]  that expansion on business lineups and coverage aggressively is likely to be loss-making in the early stages, we believe it shall improve",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Instead of producing large amounts of renewable power, it will work with customers who want to secure low-carbon solutions for their businesses. This will result in Shell producing some renewable power as well as expanding further into low-carbon fuels such as hydrogen and biofuels while leveraging its trading operations to secure additional supplies.",
    "output": "[Cause] Instead of producing large amounts of renewable power, it will work with customers who want to secure low-carbon solutions for their businesses [Relation] cause [Effect] Shell producing some renewable power as well as expanding further into low-carbon fuels such as hydrogen and biofuels while leveraging its trading operations to secure additional supplies",
    "gold": "[Cause] Instead of producing large amounts of renewable power, it will work with customers who want to secure low-carbon solutions for their businesses [Relation] cause [Effect] Shell producing some renewable power as well as expanding further into low-carbon fuels such as hydrogen and biofuels while leveraging its trading operations to secure additional supplies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Competition is always a risk, but the company has acquired a variety of smaller competitors, and larger horizontal peers may find Blackbaud's niche market too small and difficult to penetrate.",
    "output": "[Cause] the company has acquired a variety of smaller competitors [Relation] cause [Effect] larger horizontal peers may find Blackbaud's niche market too small and difficult to penetrate",
    "gold": "[Cause] Competition is always a risk [Relation] cause [Effect] the company has acquired a variety of smaller competitors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect opportunities for cost-cutting resulting from recent acquisitions will enable EBITDA margin expansion in the coming years, but unpredictable economic and competitive challenges in certain markets will likely introduce volatility and keep improvements modest.",
    "output": "[Cause] unpredictable economic and competitive challenges in certain markets [Relation] cause [Effect] introduce volatility and keep improvements modest",
    "gold": "[Cause] opportunities for cost-cutting resulting from recent acquisitions [Relation] enable [Effect] EBITDA margin expansion in the coming years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect opportunities for cost-cutting resulting from recent acquisitions will enable EBITDA margin expansion in the coming years, but unpredictable economic and competitive challenges in certain markets will likely introduce volatility and keep improvements modest.",
    "output": "[Cause] unpredictable economic and competitive challenges in certain markets [Relation] cause [Effect] introduce volatility and keep improvements modest",
    "gold": "[Cause] unpredictable economic and competitive challenges in certain markets [Relation] cause [Effect] introduce volatility and keep improvements modest",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There is a long-term risk that policymakers will move customers away from gas heating, but we think that's unlikely in the near future given the technical and economic hurdles in the colder climate where PSEG operates.",
    "output": "[Cause] the technical and economic hurdles in the colder climate where PSEG operates [Relation] cause [Effect] that's unlikely in the near future",
    "gold": "[Cause] the technical and economic hurdles in the colder climate where PSEG operates [Relation] prevent [Effect] a long-term risk that policymakers will move customers away from gas heating",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In recent years, however,Samsung has been focused on dual sourcing some of its analog chips, leading to lower content with Maxim.",
    "output": "[Cause] Samsung has been focused on dual sourcing some of its analog chips [Relation] cause [Effect] lower content with Maxim",
    "gold": "[Cause] Samsung has been focused on dual sourcing some of its analog chips [Relation] prevent [Effect]  lower content with Maxim",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we Oil & Gas Refining & Marketingview Andeavor's collection of refineries as lower quality than Marathon's and as such is slightly dilutive to portfolio quality.",
    "output": "[Cause] Oil & Gas Refining & Marketingview Andeavor's collection of refineries as lower quality than Marathon's [Relation] cause [Effect] slightly dilutive to portfolio quality",
    "gold": "[Cause] Oil & Gas Refining & Marketingview Andeavor's collection of refineries as lower quality than Marathon's [Relation] cause [Effect] slightly dilutive to portfolio quality",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume average compound annual revenue growth of roughly 4.5% through 2024, fueled by 5.5% growth in the consumer solutions segment, where we think Pentair can continue to capture incremental market share gains thanks to its continuous innovation.",
    "output": "[Cause] its continuous innovation [Relation] enable [Effect] Pentair can continue to capture incremental market share gains",
    "gold": "[Cause] its continuous innovation [Relation] cause [Effect] Pentair can continue to capture incremental market share gains",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through its Low Carbon Ventures business unit, Oxy aims to construct a Direct Air Capture plant in the Permian area, which will prevent 1 million metric tons of CO2 from being released into the atmosphere annually (which would cut current emissions in half).",
    "output": "[Cause] its Low Carbon Ventures business unit [Relation] enable [Effect] Oxy aims to construct a Direct Air Capture plant in the Permian area",
    "gold": "[Cause] a Direct Air Capture plant in the Permian area [Relation] prevent [Effect] 1 million metric tons of CO2 from being released into the atmosphere annually (which would cut current emissions in half)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If it has difficulty sourcing skilled labor or difficulty integrating employees within the firm culture, there could be an adverse impact on returns.",
    "output": "[Cause] it has difficulty sourcing skilled labor or difficulty integrating employees within the firm culture [Relation] cause [Effect] an adverse impact on returns",
    "gold": "[Cause] it has difficulty sourcing skilled labor or difficulty integrating employees within the firm culture [Relation] enable [Effect] an adverse impact on returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A longer-term risk facing News Corporation is that the company fails to hold on to its audience base as the industry continues to migrate to the online environment.",
    "output": "[Cause] the industry continues to migrate to the online environment [Relation] cause [Effect] the company fails to hold on to its audience base",
    "gold": "[Cause] the industry continues to migrate to the online environment [Relation] cause [Effect] the company fails to hold on to its audience base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, the company's average proven and probable reserve replacement ratio averaged 112% (excluding the impact of divestitures) over the past three years, indicating that the company is replacing production with new reserves.",
    "output": "[Cause] the company's average proven and probable reserve replacement ratio averaged 112% (excluding the impact of divestitures) over the past three years [Relation] cause [Effect] the company is replacing production with new reserves",
    "gold": "[Cause] company is replacing production with new reserves [Relation] cause [Effect] the company's average proven and probable reserve replacement ratio averaged 112%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Marine connectors may have to maintain operation even when submersed in water. Thus, in the eyes of a customer, the trust and reliability that Amphenol offers is of greater value than the potential incremental cost savings of switching to a lower-cost supplier.",
    "output": "[Cause] Marine connectors may have to maintain operation even when submersed in water [Relation] cause [Effect] in the eyes of a customer, the trust and reliability that Amphenol offers is of greater value than the potential incremental cost savings of switching to a lower-cost supplier",
    "gold": "[Cause] Marine connectors may have to maintain operation even when submersed in water [Relation] cause [Effect] in the eyes of a customer, the trust and reliability that Amphenol offers is of greater value than the potential incremental cost savings of switching to a lower-cost supplier",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As pharmaceutical products shift off patent, generic drug producers look to minimize risk and simplify their regulatory process by using the same ingredients.",
    "output": "[Cause] pharmaceutical products shift off patent [Relation] cause [Effect] generic drug producers look to minimize risk and simplify their regulatory process by using the same ingredients",
    "gold": "[Cause] pharmaceutical products shift off patent [Relation] enable [Effect] generic drug producers look to minimize risk and simplify their regulatory process by using the same ingredients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the company cannot generate meaningful cash in its restructuring efforts due to poor execution or from effects of the coronavirus damaging the economy, then it could file for bankruptcy.",
    "output": "[Cause] poor execution or from effects of the coronavirus damaging the economy [Relation] cause [Effect] the company cannot generate meaningful cash in its restructuring efforts",
    "gold": "[Cause] poor execution or from effects of the coronavirus damaging the economy [Relation] cause [Effect] the company cannot generate meaningful cash in its restructuring efforts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Integrating companies can be difficult, as there is usually significant risk in maintaining key personnel and managing disruption as the business transfers ownership.",
    "output": "[Cause] there is usually significant risk in maintaining key personnel and managing disruption as the business transfers ownership [Relation] cause [Effect] Integrating companies can be difficult",
    "gold": "[Cause] there is usually significant risk in maintaining key personnel and managing disruption as the business transfers ownership [Relation] cause [Effect] Integrating companies can be difficult",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, free cash flow generation has been strong during prior cyclical downturns because when sales slow, Ferguson can turn working capital into a source of cash.",
    "output": "[Cause] when sales slow [Relation] cause [Effect] Ferguson can turn working capital into a source of cash",
    "gold": "[Cause] free cash flow generation has been strong during prior cyclical downturns [Relation] cause [Effect] Ferguson can turn working capital into a source of cash",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, free cash flow generation has been strong during prior cyclical downturns because when sales slow, Ferguson can turn working capital into a source of cash.",
    "output": "[Cause] Ferguson can turn working capital into a source of cash [Relation] cause [Effect] free cash flow generation has been strong during prior cyclical downturns",
    "gold": "[Cause] Ferguson can turn working capital into a source of cash [Relation] cause [Effect] free cash flow generation has been strong during prior cyclical downturns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In future, as the factory automation market continues to grow over the long term in key markets such as China, there is a possibility that select local players will likely acquire new customers in local niche markets with a more competitive pricing (for example small-job shops with limited capital).",
    "output": "[Cause] the factory automation market continues to grow over the long term in key markets such as China [Relation] cause [Effect] select local players will likely acquire new customers in local niche markets with a more competitive pricing",
    "gold": "[Cause]  the factory automation market continues to grow over the long term in key markets such as China [Relation] enable [Effect] select local players will likely acquire new customers in local niche markets with a more competitive pricing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ultimately, TCCC leverages its global scale and clout to ensure that raw material procurement is as streamlined and cheap as possible for its bottling system.",
    "output": "[Cause] TCCC leverages its global scale and clout [Relation] enable [Effect] raw material procurement is as streamlined and cheap as possible for its bottling system",
    "gold": "[Cause] TCCC leverages its global scale and clout [Relation] enable [Effect] raw material procurement is as streamlined and cheap as possible for its bottling system",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the retail customer's need for guidance to help forestall significant entry by nontraditional, digital retailers (like Amazon) into the hard parts DIY space for the foreseeable future.",
    "output": "[Cause] the retail customer's need for guidance [Relation] prevent [Effect] significant entry by nontraditional, digital retailers (like Amazon) into the hard parts DIY space for the foreseeable future",
    "gold": "[Cause] We expect the retail customer's [Relation] prevent [Effect] need for guidance to help forestall significant entry by nontraditional, digital retailers (like Amazon) into the hard parts DIY space for the foreseeable future.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The satellite television business enjoys a solid competitive position thanks to the lack of infrastructure across much of the region, but economic instability has plagued this unit lately.",
    "output": "[Cause] the lack of infrastructure across much of the region [Relation] cause [Effect] The satellite television business enjoys a solid competitive position",
    "gold": "[Cause] the lack of infrastructure across much of the region [Relation] enable [Effect] The satellite television business enjoys a solid competitive position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The satellite television business enjoys a solid competitive position thanks to the lack of infrastructure across much of the region, but economic instability has plagued this unit lately.",
    "output": "[Cause] economic instability [Relation] cause [Effect] plagued this unit lately",
    "gold": "[Cause] economic instability [Relation] prevent [Effect] The satellite television business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In its core intermodal business, Hunt's large network of shippers and long-standing partnerships with major rail carriers reinforce a compelling value proposition and generate healthy barriers to entry because duplication by small providers with fewer resources would prove difficult.",
    "output": "[Cause] duplication by small providers with fewer resources would prove difficult [Relation] cause [Effect] generate healthy barriers to entry",
    "gold": "[Cause] duplication by small providers with fewer resources would prove difficult [Relation] cause [Effect] generate healthy barriers to entry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In its core intermodal business, Hunt's large network of shippers and long-standing partnerships with major rail carriers reinforce a compelling value proposition and generate healthy barriers to entry because duplication by small providers with fewer resources would prove difficult.",
    "output": "[Cause] duplication by small providers with fewer resources would prove difficult [Relation] cause [Effect] generate healthy barriers to entry",
    "gold": "[Cause] Hunt's large network of shippers and long-standing partnerships with major rail carriers [Relation] enable [Effect] reinforce a compelling value proposition",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In a wireless network base station, failure of an antenna for backhaul or failed power transfer could result in a network outage.",
    "output": "[Cause] failure of an antenna for backhaul or failed power transfer [Relation] cause [Effect] a network outage",
    "gold": "[Cause]  failure of an antenna for backhaul or failed power transfer [Relation] cause [Effect]  a network outage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, though, we believe Comerica's energy book has been underwritten prudently, and we believe the bank remains an above-average underwriter in the commercial space, which should result in credit cost advantages over time.",
    "output": "[Cause] the bank remains an above-average underwriter in the commercial space [Relation] cause [Effect] credit cost advantages over time",
    "gold": "[Cause] we believe the bank remains an above-average underwriter in the commercial space, which should result in credit cost advantages over time [Relation] cause [Effect] Comerica's energy book has been underwritten prudently",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As unemployment remains high and its forbearance programs end, the state of the economy will be a key determinant of the bank's near-term profits.",
    "output": "[Cause] unemployment remains high and its forbearance programs end [Relation] cause [Effect] the state of the economy will be a key determinant of the bank's near-term profits",
    "gold": "[Cause] unemployment remains high and its forbearance programs end [Relation] cause [Effect] the state of the economy will be a key determinant of the bank's near-term profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Expense leverage should create some long-term adjusted operating margin improvement relative to fiscal 2019's 11.8% mark, but we only expect expansion into the low teens over our explicit forecast.",
    "output": "[Cause] Expense leverage [Relation] enable [Effect] create some long-term adjusted operating margin improvement relative to fiscal 2019's 11.8% mark",
    "gold": "[Cause] Expense leverage should create some long-term adjusted operating margin improvement [Relation] enable [Effect] we only expect expansion into the low teens over our explicit forecast",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Growing consumer concerns about deforestation could result in ADM's customers requiring stricter certification from the company, resulting in higher costs to ADM that it may not be able to pass along.",
    "output": "[Cause] Growing consumer concerns about deforestation [Relation] cause [Effect] ADM's customers requiring stricter certification from the company",
    "gold": "[Cause] Growing consumer concerns about deforestation [Relation] cause [Effect] ADM's customers requiring stricter certification from the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Growing consumer concerns about deforestation could result in ADM's customers requiring stricter certification from the company, resulting in higher costs to ADM that it may not be able to pass along.",
    "output": "[Cause] ADM's customers requiring stricter certification from the company [Relation] cause [Effect] higher costs to ADM that it may not be able to pass along",
    "gold": "[Cause] ADM's customers requiring stricter certification from the company [Relation] cause [Effect] higher costs to ADM that it may not be able to pass along",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the firm continues to invest in its software and build out a comprehensive product suite, we believe Paycom can maintain its competitive positioning.",
    "output": "[Cause] the firm continues to invest in its software and build out a comprehensive product suite [Relation] enable [Effect] Paycom can maintain its competitive positioning",
    "gold": "[Cause]  the firm continues to invest in its software and build out a comprehensive product suite [Relation] cause [Effect] Paycom can maintain its competitive positioning",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Growth expectations could be dragged down if Internet of Things devices do not expand at a significant rate or if networks do not require services faster than 4G.",
    "output": "[Cause] Internet of Things devices do not expand at a significant rate [Relation] cause [Effect] Growth expectations could be dragged down",
    "gold": "[Cause] Internet of Things devices do not expand at a significant rate [Relation] cause [Effect] Growth expectations could be dragged down",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Growth expectations could be dragged down if Internet of Things devices do not expand at a significant rate or if networks do not require services faster than 4G.",
    "output": "[Cause] networks do not require services faster than 4G [Relation] cause [Effect] Growth expectations could be dragged down",
    "gold": "[Cause] networks do not require services faster than 4G [Relation] cause [Effect] Growth expectations could be dragged down",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Combined with most consumption taking place in social settings, as well as the \"\"\"\"social currency\"\"\"\" that many people derive from these occasions, we believe resonant brands are particularly advantaged in the alcoholic beverage space.",
    "output": "[Cause] most consumption taking place in social settings, as well as the \"\"\"\"social currency\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"",
    "gold": "[Cause] most consumption taking place in social settings [Relation] enable [Effect] resonant brands are particularly advantaged in the alcoholic beverage space",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although we believe Sysco has cost advantages compared with its smaller peers, pricing power remains elusive, given the vast number of alternatives through which they can purchase supplies.",
    "output": "[Cause] the vast number of alternatives through which they can purchase supplies [Relation] cause [Effect] pricing power remains elusive",
    "gold": "[Cause] the vast number of alternatives through which they can purchase supplies [Relation] enable [Effect]  pricing power remains elusive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fanuc is well-positioned for long-term, secular growth in the factory automation and robotics segment, as the world's largest computer numerical control (CNC) and industrial robotics manufacturer.",
    "output": "[Cause] the world's largest computer numerical control (CNC) and industrial robotics manufacturer [Relation] cause [Effect] Fanuc is well-positioned for long-term, secular growth in the factory automation and robotics segment",
    "gold": "[Cause] the world's largest computer numerical control (CNC) and industrial robotics manufacturer [Relation] enable [Effect] Fanuc is well-positioned for long-term, secular growth in the factory automation and robotics segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This is largely due to time value as well as anomalous near-term profitability, as pandemic-induced distortions have facilitated reductions in advertising and other corporate expenses.",
    "output": "[Cause] time value as well as anomalous near-term profitability [Relation] cause [Effect] This",
    "gold": "[Cause]  time value as well as anomalous near-term profitability [Relation] cause [Effect] pandemic-induced distortions have facilitated reductions in advertising and other corporate expenses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This is largely due to time value as well as anomalous near-term profitability, as pandemic-induced distortions have facilitated reductions in advertising and other corporate expenses.",
    "output": "[Cause] pandemic-induced distortions [Relation] cause [Effect] facilitated reductions in advertising and other corporate expenses",
    "gold": "[Cause] pandemic-induced distortions [Relation] cause [Effect] facilitated reductions in advertising and other corporate expenses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The network effect arises as the more people who use Slack, the more beneficial it is to those users.",
    "output": "[Cause] the more people who use Slack [Relation] cause [Effect] The network effect arises",
    "gold": "[Cause]  the more people who use Slack [Relation] enable [Effect] The network effect arises",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The network effect arises as the more people who use Slack, the more beneficial it is to those users.",
    "output": "[Cause] the more people who use Slack [Relation] cause [Effect] The network effect arises",
    "gold": "[Cause] The network effect arises [Relation] enable [Effect] the more beneficial it is to those users",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, we think Merck faces very limited ESG risks, with most of its risk surrounding potential return-reducing acquisitions due to the company's current ownership structure, a governance-related ESG concern.",
    "output": "[Cause] the company's current ownership structure, a governance-related ESG concern [Relation] cause [Effect] most of its risk surrounding potential return-reducing acquisitions",
    "gold": "[Cause] potential return-reducing acquisitions due to the company's current ownership structure, a governance-related ESG concern [Relation] cause [Effect] Merck faces very limited ESG risks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast Lumen's cash flow growth will be driven by expanding margins and tax benefits stemming from the merger with Level 3 rather than revenue growth.",
    "output": "[Cause] expanding margins and tax benefits stemming from the merger with Level 3 [Relation] enable [Effect] Lumen's cash flow growth",
    "gold": "[Cause] expanding margins and tax benefits stemming from the merger with Level 3 [Relation] enable [Effect] Lumen's cash flow growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our expectation is for a five-year revenue CAGR of 10% as sales ramp up from 5% growth rate in fiscal 2020.",
    "output": "[Cause] sales ramp up from 5% growth rate in fiscal 2020 [Relation] cause [Effect] a five-year revenue CAGR of 10%",
    "gold": "[Cause] sales ramp up from 5% growth rate in fiscal 2020 [Relation] enable [Effect] a five-year revenue CAGR of 10%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For the commercial segment, we expect strong growth as more companies and industries strive to understand actionable insights from their data stores and new data generated.",
    "output": "[Cause] more companies and industries strive to understand actionable insights from their data stores and new data generated [Relation] cause [Effect] strong growth",
    "gold": "[Cause] more companies and industries strive to understand actionable insights from their data stores and new data generated [Relation] cause [Effect]  strong growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Park completed the acquisition of Chesapeake Lodging Trust in September 2019, a complimentary portfolio of 18 high-quality, upper upscale hotels that should help to diversify Park's hotel brands to include Marriott, Hyatt, and IHG hotels.",
    "output": "[Cause] Park completed the acquisition of Chesapeake Lodging Trust in September 2019, a complimentary portfolio of 18 high-quality, upper upscale hotels [Relation] enable [Effect] diversify Park's hotel brands to include Marriott, Hyatt, and IHG hotels",
    "gold": "[Cause] Park completed the acquisition of Chesapeake Lodging Trust in September 2019, a complimentary portfolio of 18 high-quality, upper upscale hotels [Relation] enable [Effect] diversify Park's hotel brands to include Marriott, Hyatt, and IHG hotels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the COVID-19 crisis adversely affected 2020 results, we think Hanes' share leadership in replenishment apparel categories puts it in better shape than some competitors.",
    "output": "[Cause] Hanes' share leadership in replenishment apparel categories [Relation] enable [Effect] puts it in better shape than some competitors",
    "gold": "[Cause]  Hanes' share leadership in replenishment apparel categories [Relation] cause [Effect]  puts it in better shape than some competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We look for continuing growth in operating expenses as more investments in R&D plus higher sales and marketing expenses, which are necessary for Snap to differentiate itself and attract more users.",
    "output": "[Cause] more investments in R&D plus higher sales and marketing expenses [Relation] cause [Effect] continuing growth in operating expenses",
    "gold": "[Cause]  more investments in R&D plus higher sales and marketing expenses [Relation] enable [Effect]  continuing growth in operating expenses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the bottom line, we expect slight operating margin improvement to about 7% by 2024, as Anthem wrings out efficiencies with its increasing scale.",
    "output": "[Cause] Anthem wrings out efficiencies with its increasing scale [Relation] cause [Effect] slight operating margin improvement to about 7% by 2024",
    "gold": "[Cause] Anthem wrings out efficiencies with its increasing scale [Relation] enable [Effect] slight operating margin improvement to about 7% by 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since back-office processes, compliance practices, and infrastructure are largely undistinguished among financial services providers, IHS Markit can leverage its tools over a wide client base while providing a meaningful value proposition to its customers.",
    "output": "[Cause] back-office processes, compliance practices, and infrastructure are largely undistinguished among financial services providers [Relation] cause [Effect] IHS Markit can leverage its tools over a wide client base while providing a meaningful value proposition to its customers",
    "gold": "[Cause] back-office processes, compliance practices, and infrastructure are largely undistinguished among financial services providers [Relation] cause [Effect] IHS Markit can leverage its tools over a wide client base while providing a meaningful value proposition to its customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Robinson is a highly attractive source of freight opportunities, given its ability to aggregate fragmented demand across a broad customer base of shippers.",
    "output": "[Cause] its ability to aggregate fragmented demand across a broad customer base of shippers [Relation] cause [Effect] Robinson is a highly attractive source of freight opportunities",
    "gold": "[Cause]  its ability to aggregate fragmented demand across a broad customer base of shippers [Relation] cause [Effect] Robinson is a highly attractive source of freight opportunities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are confident in gross margin expansion over the next 10 years, as we expect Workday's top line to rely less and less on its low-margin services business--which posted gross margin in fiscal 2021 of negative 11% compared with subscriptions' drastically better 84%.",
    "output": "[Cause] Workday's top line to rely less and less on its low-margin services business [Relation] cause [Effect] We are confident in gross margin expansion over the next 10 years",
    "gold": "[Cause] Workday's top line to rely less and less on its low-margin services business [Relation] cause [Effect] We are confident in gross margin expansion over the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that its engineering teams already know the ins and outs of the products in question, TE can offer a greater value proposition than an untested replacement and be better suited to codevelop new technologies or accommodate modifications for future product iterations.",
    "output": "[Cause] its engineering teams already know the ins and outs of the products in question [Relation] cause [Effect] TE can offer a greater value proposition than an untested replacement",
    "gold": "[Cause] its engineering teams already know the ins and outs of the products in question [Relation] cause [Effect] TE can offer a greater value proposition than an untested replacement",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that its engineering teams already know the ins and outs of the products in question, TE can offer a greater value proposition than an untested replacement and be better suited to codevelop new technologies or accommodate modifications for future product iterations.",
    "output": "[Cause] its engineering teams already know the ins and outs of the products in question [Relation] cause [Effect] TE can offer a greater value proposition than an untested replacement",
    "gold": "[Cause] TE can offer a greater value proposition than an untested replacement [Relation] enable [Effect] codevelop new technologies or accommodate modifications for future product iterations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In a downturn (which can occur from airborne illnesses like coronavirus, terror attacks, or economic slowdown), consumers and businesses look to cut back on expenses like travel.",
    "output": "[Cause] airborne illnesses like coronavirus, terror attacks, or economic slowdown [Relation] cause [Effect] consumers and businesses look to cut back on expenses like travel",
    "gold": "[Cause] downturn [Relation] cause [Effect] consumers and businesses look to cut back on expenses like travel",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To invest in future patent-protected specialty products, the firm plows back roughly 4% of sales from its additives and functional products and advanced materials segments into research and development.",
    "output": "[Cause] invest in future patent-protected specialty products [Relation] cause [Effect] the firm plows back roughly 4% of sales from its additives and functional products and advanced materials segments into research and development",
    "gold": "[Cause] invest in future patent-protected specialty products [Relation] cause [Effect] the firm plows back roughly 4% of sales from its additives and functional products and advanced materials segments into research and development",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's large network of shippers and asset-based carriers crafts a compelling value proposition, making duplication a challenging task for small and midsize truck brokers with fewer resources.",
    "output": "[Cause] The company's large network of shippers and asset-based carriers crafts a compelling value proposition [Relation] cause [Effect] duplication a challenging task for small and midsize truck brokers with fewer resources",
    "gold": "[Cause] The company's large network of shippers and asset-based carriers crafts a compelling value proposition [Relation] enable [Effect] duplication a challenging task for small and midsize truck brokers with fewer resources",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Internet transit is a small addressable market--about $1.5 billion according to Cogent--and rapid price deflation mutes market growth despite the huge increases in data consumption.",
    "output": "[Cause] Internet transit is a small addressable market--about $1.5 billion according to Cogent [Relation] cause [Effect] rapid price deflation mutes market growth",
    "gold": "[Cause] Internet transit is a small addressable market--about $1.5 billion according to Cogent--and rapid price deflation mutes market growth [Relation] enable [Effect] despite the huge increases in data consumption",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, as it moves into the middleweight category (Pan America) in an attempt to offset legacy declines, it risks the inability to market properly to a new consumer base.",
    "output": "[Cause] it moves into the middleweight category (Pan America) in an attempt to offset legacy declines [Relation] cause [Effect] it risks the inability to market properly to a new consumer base",
    "gold": "[Cause] it moves into the middleweight category (Pan America) in an attempt to offset legacy declines [Relation] cause [Effect]  it risks the inability to market properly to a new consumer base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With more paid and unpaid users, we believe Match Group could attract more ad dollars, given the growing number of young and millennial users, which is why we model 14% average annual growth in indirect revenue after the pandemic through 2025.",
    "output": "[Cause] more paid and unpaid users [Relation] cause [Effect] Match Group could attract more ad dollars",
    "gold": "[Cause] more paid and unpaid users [Relation] cause [Effect]  Match Group could attract more ad dollars",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With more paid and unpaid users, we believe Match Group could attract more ad dollars, given the growing number of young and millennial users, which is why we model 14% average annual growth in indirect revenue after the pandemic through 2025.",
    "output": "[Cause] Match Group could attract more ad dollars [Relation] cause [Effect] we model 14% average annual growth in indirect revenue after the pandemic through 2025",
    "gold": "[Cause] the growing number of young and millennial users [Relation] cause [Effect] model 14% average annual growth in indirect revenue after the pandemic through 2025",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In fact, Hain experienced two production problems in fiscal 2018 in its personal care business, which resulted in unfilled orders and higher costs as production had to be temporarily outsourced.",
    "output": "[Cause] production had to be temporarily outsourced [Relation] cause [Effect] unfilled orders and higher costs",
    "gold": "[Cause]  resulted in unfilled orders and higher costs as production [Relation] prevent [Effect] be temporarily outsourced",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Deferring shop visits can add 20%-30% to airlines' costs, and passenger survey data persistently reveals a majority of passengers are willing to travel once vaccinated.",
    "output": "[Cause] Deferring shop visits [Relation] enable [Effect] add 20%-30% to airlines' costs",
    "gold": "[Cause] Deferring shop visits [Relation] cause [Effect] add 20%-30% to airlines' costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the COVID-19 pandemic illustrates one negative of this move, in that the acquiring business is significantly more macro sensitive than FIS' legacy operations.",
    "output": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] illustrates one negative of this move",
    "gold": "[Cause]  the COVID-19 pandemic [Relation] cause [Effect] illustrates one negative of this move",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We've raised our fair value estimate to $10.10 from $9.10 to reflect our updated near-term revenue and profitability assumptions and for the time value of money since our last update.",
    "output": "[Cause] raised our fair value estimate to $10.10 from $9.10 [Relation] enable [Effect] reflect our updated near-term revenue and profitability assumptions and for the time value of money since our last update",
    "gold": "[Cause]  near-term revenue and profitability assumptions and for the time value of money since our last update [Relation] cause [Effect] We've raised our fair value estimate to $10.10 from $9.10",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the size of the firm's competitors and extensive consolidation in the diabetes-care device field, we estimate that Insulet can near $2.8 billion in sales by 2027, which amounts to respectable market share but not nearly enough to unseat Medtronic or claim leadership.",
    "output": "[Cause] the size of the firm's competitors and extensive consolidation in the diabetes-care device field [Relation] cause [Effect] Insulet can near $2.8 billion in sales by 2027",
    "gold": "[Cause]  the size of the firm's competitors and extensive consolidation in the diabetes-care device field [Relation] cause [Effect]  Insulet can near $2.8 billion in sales by 2027",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And overall operating margin expands by 320 basis points to 14% through 2024, as the firm becomes more efficient in using its salesforce to sell a freshened portfolio of products.",
    "output": "[Cause] the firm becomes more efficient in using its salesforce to sell a freshened portfolio of products [Relation] cause [Effect] And overall operating margin expands by 320 basis points to 14% through 2024",
    "gold": "[Cause] the firm becomes more efficient in using its salesforce to sell a freshened portfolio of products [Relation] enable [Effect] And overall operating margin expands by 320 basis points to 14% through 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we view Darden as a better-positioned company following recent strategic efforts, we expect adjusted operating margin expansion to slow in the later years of our explicit forecast period as the casual dining industry consolidates and results in more significant price competition.",
    "output": "[Cause] the casual dining industry consolidates and results in more significant price competition [Relation] cause [Effect] adjusted operating margin expansion to slow in the later years of our explicit forecast period",
    "gold": "[Cause] the casual dining industry consolidates and results in more significant price competition [Relation] cause [Effect] the casual dining industry consolidates and results in more significant price competition",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Morningstar expects that a COVID-19 vaccine will be well-distributed by mid-2021, but the longer that the pandemic runs rampant, the more challenging the operating environment will be for aviation businesses.",
    "output": "[Cause] the longer that the pandemic runs rampant [Relation] cause [Effect] the more challenging the operating environment will be for aviation businesses",
    "gold": "[Cause] the longer that the pandemic runs rampant [Relation] cause [Effect] the more challenging the operating environment will be for aviation businesses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the scale and breadth of its operations allow the company to build out a wider set of data and experience, which we believe improves the value of its services even at the middle-market level.",
    "output": "[Cause] the scale and breadth of its operations [Relation] enable [Effect] the company to build out a wider set of data and experience",
    "gold": "[Cause] the scale and breadth of its operations [Relation] enable [Effect] the company to build out a wider set of data and experience",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the scale and breadth of its operations allow the company to build out a wider set of data and experience, which we believe improves the value of its services even at the middle-market level.",
    "output": "[Cause] the scale and breadth of its operations [Relation] enable [Effect] the company to build out a wider set of data and experience",
    "gold": "[Cause] the company to build out a wider set of data and experience [Relation] enable [Effect] improves the value of its services even at the middle-market level",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Patents, economies of scale, and a powerful intellectual base buoy Merck's business and keep it well shielded from the competition.",
    "output": "[Cause] Patents, economies of scale, and a powerful intellectual base [Relation] enable [Effect] Merck's business",
    "gold": "[Cause] Patents, economies of scale, and a powerful intellectual base [Relation] prevent [Effect] the competition",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, we think the COVID-19 crisis, which forced the temporary closures of Dick's stores in 2020, could accelerate the digital and direct-to-consumer trends.",
    "output": "[Cause] the COVID-19 crisis [Relation] cause [Effect] the temporary closures of Dick's stores in 2020",
    "gold": "[Cause] the COVID-19 crisis [Relation] cause [Effect] the temporary closures of Dick's stores in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, we think the COVID-19 crisis, which forced the temporary closures of Dick's stores in 2020, could accelerate the digital and direct-to-consumer trends.",
    "output": "[Cause] the COVID-19 crisis [Relation] cause [Effect] accelerate the digital and direct-to-consumer trends",
    "gold": "[Cause] the COVID-19 crisis [Relation] cause [Effect] accelerate the digital and direct-to-consumer trends",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ideally, it wants to deliver these bottles directly to customers to avoid the increased costs and competition that go along with retail intermediation.",
    "output": "[Cause] deliver these bottles directly to customers [Relation] prevent [Effect] the increased costs and competition that go along with retail intermediation",
    "gold": "[Cause] deliver these bottles directly to customers [Relation] prevent [Effect] void the increased costs and competition",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, as Groupon is expanding its offerings to include food delivery after acquiring OrderUp, it is entering a space crowded with companies such as Grubhub, Uber, DoorDash, and Munchery.",
    "output": "[Cause] Groupon is expanding its offerings to include food delivery after acquiring OrderUp [Relation] cause [Effect] it is entering a space crowded with companies such as Grubhub, Uber, DoorDash, and Munchery",
    "gold": "[Cause] Groupon is expanding its offerings to include food delivery after acquiring OrderUp [Relation] cause [Effect] it is entering a space crowded with companies such as Grubhub, Uber, DoorDash, and Munchery",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, talent for analog chip design is scarcer than it is for digital chips, due to greater emphasis in the broader semiconductor industry being placed on digital improvements in accordance with Moore's Law.",
    "output": "[Cause] greater emphasis in the broader semiconductor industry being placed on digital improvements in accordance with Moore's Law [Relation] cause [Effect] talent for analog chip design is scarcer than it is for digital chips",
    "gold": "[Cause] greater emphasis in the broader semiconductor industry being placed on digital improvements in accordance with Moore's Law [Relation] cause [Effect] talent for analog chip design is scarcer than it is for digital chips",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With updated banking regulations, M&T is now considered a Category IV bank, and its regulatory burden has been reduced.",
    "output": "[Cause] updated banking regulations [Relation] enable [Effect] M&T is now considered a Category IV bank, and its regulatory burden has been reduced",
    "gold": "[Cause] updated banking regulations [Relation] cause [Effect] M&T is now considered a Category IV bank, and its regulatory burden has been reduced",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Clinical trials are intensely scrutinized by regulators, and even the slightest error or abnormality can cause them to reject a drug or require a new trial.",
    "output": "[Cause] the slightest error or abnormality [Relation] cause [Effect] reject a drug or require a new trial",
    "gold": "[Cause]  the slightest error or abnormality [Relation] cause [Effect] reject a drug or require a new trial",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Newer entrant TotalPlay has also aggressively expanded its fiber network over the past five years and now claims about 10% market share. As a result, Telmex has steadily lost Internet access market share in recent years, though it still serves about half of all customers in Mexico.",
    "output": "[Cause] Newer entrant TotalPlay has also aggressively expanded its fiber network over the past five years and now claims about 10% market share [Relation] cause [Effect] Telmex has steadily lost Internet access market share in recent years, though it still serves about half of all customers in Mexico",
    "gold": "[Cause] Newer entrant TotalPlay has also aggressively expanded its fiber network over the past five years and now claims about 10% market share [Relation] cause [Effect] Telmex has steadily lost Internet access market share in recent years, though it still serves about half of all customers in Mexico",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Caesars to realize around $1 billion in combined revenue and cost synergies from its merger with Eldorado, representing around a 30% increase to pro forma 2019 EBITDAR.",
    "output": "[Cause] Caesars to realize around $1 billion in combined revenue and cost synergies from its merger with Eldorado [Relation] enable [Effect] around a 30% increase to pro forma 2019 EBITDAR",
    "gold": "[Cause] Caesars to realize around $1 billion in combined revenue and cost synergies from its merger with Eldorado [Relation] cause [Effect] around a 30% increase to pro forma 2019 EBITDAR",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the unquestioned leader in global food-service sales, we believe that McDonald's is taking adequate steps to adjust to an evolving competitive landscape, solidifying its brand competitive advantage by leveraging its scale, marketing spending, and strong unit-level profitability.",
    "output": "[Cause] leveraging its scale, marketing spending, and strong unit-level profitability [Relation] enable [Effect] solidifying its brand competitive advantage",
    "gold": "[Cause] leveraging its scale, marketing spending, and strong unit-level profitability [Relation] enable [Effect] solidifying its brand competitive advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the unquestioned leader in global food-service sales, we believe that McDonald's is taking adequate steps to adjust to an evolving competitive landscape, solidifying its brand competitive advantage by leveraging its scale, marketing spending, and strong unit-level profitability.",
    "output": "[Cause] leveraging its scale, marketing spending, and strong unit-level profitability [Relation] enable [Effect] solidifying its brand competitive advantage",
    "gold": "[Cause] McDonald's is taking adequate steps [Relation] cause [Effect] adjust to an evolving competitive landscape",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As users and search requests grow and more data is gathered, advertisers' demands for ads increase, helping Google to further monetize the network.",
    "output": "[Cause] users and search requests grow and more data is gathered [Relation] cause [Effect] advertisers' demands for ads increase",
    "gold": "[Cause] users and search requests grow and more data is gathered [Relation] cause [Effect] advertisers' demands for ads increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As users and search requests grow and more data is gathered, advertisers' demands for ads increase, helping Google to further monetize the network.",
    "output": "[Cause] advertisers' demands for ads increase [Relation] enable [Effect] Google to further monetize the network",
    "gold": "[Cause] advertisers' demands for ads increase [Relation] enable [Effect] Google to further monetize the network",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "HPE offers the public cloud pay-per-usage model for on-premises and private clouds to stay in tune with favored consumption models.",
    "output": "[Cause] HPE offers the public cloud pay-per-usage model for on-premises and private clouds [Relation] enable [Effect] stay in tune with favored consumption models",
    "gold": "[Cause] HPE offers the public cloud pay-per-usage model for on-premises and private clouds [Relation] cause [Effect] stay in tune with favored consumption models",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The segment in the Southeast should maintain its premerger margins by the end of the forecast period due to its successful remodeling program and despite a more competitive environment (Carolinas), where larger peers are proactively reducing prices in anticipation of hard discounters' expansion.",
    "output": "[Cause] its successful remodeling program [Relation] cause [Effect] The segment in the Southeast should maintain its premerger margins by the end of the forecast period",
    "gold": "[Cause] its successful remodeling program [Relation] cause [Effect] The segment in the Southeast should maintain its premerger margins by the end of the forecast period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The segment in the Southeast should maintain its premerger margins by the end of the forecast period due to its successful remodeling program and despite a more competitive environment (Carolinas), where larger peers are proactively reducing prices in anticipation of hard discounters' expansion.",
    "output": "[Cause] its successful remodeling program [Relation] cause [Effect] The segment in the Southeast should maintain its premerger margins by the end of the forecast period",
    "gold": "[Cause] larger peers are proactively reducing prices [Relation] prevent [Effect] hard discounters' expansion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Since its separation from Westinghouse, Wesco has used most of its cumulative free cash flow on acquisitions, which have expanded its scale, diversified revenue, and fueled a meaningful portion of the company's growth.",
    "output": "[Cause] Wesco has used most of its cumulative free cash flow on acquisitions [Relation] enable [Effect] expanded its scale, diversified revenue, and fueled a meaningful portion of the company's growth",
    "gold": "[Cause] Wesco has used most of its cumulative free cash flow on acquisitions [Relation] cause [Effect] expanded its scale, diversified revenue, and fueled a meaningful portion of the company's growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're anticipating that the company will maintain its relatively high capital expenditures as a percent of sales in 2021 as the company builds out capacity for the Columbia-class submarine.",
    "output": "[Cause] the company builds out capacity for the Columbia-class submarine [Relation] cause [Effect] the company will maintain its relatively high capital expenditures as a percent of sales in 2021",
    "gold": "[Cause] the company builds out capacity for the Columbia-class submarine [Relation] cause [Effect] the company will maintain its relatively high capital expenditures as a percent of sales in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Efforts to reorganize the business and streamline strategy have helped improve these metrics (with free cash flow set to almost double 2019 levels in 2020), and we think further gains should be realized ahead, as further economics are extracted from the business.",
    "output": "[Cause] further economics are extracted from the business [Relation] cause [Effect] further gains should be realized ahead",
    "gold": "[Cause] further economics are extracted from the business [Relation] cause [Effect] further gains should be realized ahead",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Efforts to reorganize the business and streamline strategy have helped improve these metrics (with free cash flow set to almost double 2019 levels in 2020), and we think further gains should be realized ahead, as further economics are extracted from the business.",
    "output": "[Cause] further economics are extracted from the business [Relation] cause [Effect] further gains should be realized ahead",
    "gold": "[Cause] Efforts to reorganize the business and streamline strategy [Relation] enable [Effect] improve these metrics (with free cash flow set to almost double 2019 levels in 2020)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Lam's leadership position creates scale advantages that fuel research and development spending at levels only Applied Materials and Tokyo Electron can match.",
    "output": "[Cause] Lam's leadership position [Relation] enable [Effect] scale advantages",
    "gold": "[Cause] Lam's leadership position [Relation] enable [Effect] scale advantages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lennox's failure to keep pace with global green building standards and product demand trends could result in reputational risk and lost market share, but we see a low probability of this risk materializing.",
    "output": "[Cause] Lennox's failure to keep pace with global green building standards and product demand trends [Relation] cause [Effect] reputational risk and lost market share",
    "gold": "[Cause] Lennox's failure to keep pace with global green building standards and product demand trends [Relation] cause [Effect] reputational risk and lost market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Valeant, the firm's strategy was focused on making acquisitions, then cutting costs of these acquired companies by reducing sales headcount.",
    "output": "[Cause] reducing sales headcount [Relation] enable [Effect] cutting costs of these acquired companies",
    "gold": "[Cause] reducing sales headcount [Relation] enable [Effect] cutting costs of these acquired companies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the firm's largest segment, Discovery and Safety Assessment, to make up about 63% of total revenue, driven by a slow increase in outsourcing penetration throughout our explicit forecast.",
    "output": "[Cause] a slow increase in outsourcing penetration throughout our explicit forecast [Relation] cause [Effect] the firm's largest segment, Discovery and Safety Assessment, to make up about 63% of total revenue",
    "gold": "[Cause]  a slow increase in outsourcing penetration throughout our explicit forecast [Relation] enable [Effect] the firm's largest segment, Discovery and Safety Assessment, to make up about 63% of total revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect online ad margins will gradually increase as higher-margin social and other advertising is expected to grow faster than media advertising.",
    "output": "[Cause] higher-margin social and other advertising is expected to grow faster than media advertising [Relation] cause [Effect] online ad margins will gradually increase",
    "gold": "[Cause] higher-margin social and other advertising is expected to grow faster than media advertising [Relation] cause [Effect] online ad margins will gradually increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The move into wireless heightens the threat of regulatory intervention as regulators will be watching to ensure the firm puts its spectrum licenses to effective use serving the public, which could spark fresh disagreement with the FCC.",
    "output": "[Cause] regulators will be watching to ensure the firm puts its spectrum licenses to effective use serving the public [Relation] cause [Effect] The move into wireless heightens the threat of regulatory intervention",
    "gold": "[Cause] regulators will be watching to ensure the firm puts its spectrum licenses to effective use serving the public [Relation] cause [Effect] spark fresh disagreement with the FCC",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The move into wireless heightens the threat of regulatory intervention as regulators will be watching to ensure the firm puts its spectrum licenses to effective use serving the public, which could spark fresh disagreement with the FCC.",
    "output": "[Cause] regulators will be watching to ensure the firm puts its spectrum licenses to effective use serving the public [Relation] cause [Effect] spark fresh disagreement with the FCC",
    "gold": "[Cause] regulators will be watching to ensure the firm puts its spectrum licenses to effective use serving the public [Relation] cause [Effect] The move into wireless heightens the threat of regulatory intervention",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Capri spent a steep $3.4 billion to purchase Jimmy Choo and Versace to boost its status as a luxury house and reduce its dependence on Michael Kors.",
    "output": "[Cause] Capri spent a steep $3.4 billion to purchase Jimmy Choo and Versace [Relation] enable [Effect] boost its status as a luxury house and reduce its dependence on Michael Kors",
    "gold": "[Cause] Capri spent a steep $3.4 billion to purchase Jimmy Choo and Versace [Relation] enable [Effect]  boost its status as a luxury house and reduce its dependence on Michael Kors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "History suggests this could be possible, as Illinois's early plans for recreational legalization would hand an advantage to companies with medical cultivation and dispensary licenses.",
    "output": "[Cause] Illinois's early plans for recreational legalization would hand an advantage to companies with medical cultivation and dispensary licenses [Relation] cause [Effect] this could be possible",
    "gold": "[Cause]  Illinois's early plans for recreational legalization would hand an advantage to companies with medical cultivation and dispensary licenses [Relation] cause [Effect]  this could be possible",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the difficulty in valuing long-term 10- to 20-year contracts for gathering and processing assets due to the challenges in planned drilling and production, we think future write-downs are possible.",
    "output": "[Cause] the challenges in planned drilling and production [Relation] cause [Effect] the difficulty in valuing long-term 10- to 20-year contracts for gathering and processing assets",
    "gold": "[Cause] the challenges in planned drilling and production [Relation] cause [Effect] the difficulty in valuing long-term 10- to 20-year contracts for gathering and processing assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the difficulty in valuing long-term 10- to 20-year contracts for gathering and processing assets due to the challenges in planned drilling and production, we think future write-downs are possible.",
    "output": "[Cause] the challenges in planned drilling and production [Relation] cause [Effect] the difficulty in valuing long-term 10- to 20-year contracts for gathering and processing assets",
    "gold": "[Cause] the difficulty in valuing long-term 10- to 20-year contracts for gathering and processing assets [Relation] cause [Effect]  future write-downs are possible",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We still see elevated macro uncertainty, but for 2020 we currently look for total revenue to come in roughly flat thanks to second half recovery off of pandemic lows.",
    "output": "[Cause] second half recovery off of pandemic lows [Relation] cause [Effect] total revenue to come in roughly flat",
    "gold": "[Cause] for 2020 we currently look for total revenue to come in roughly flat [Relation] cause [Effect] second half recovery off of pandemic lows.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because of the demand rebound, total net revenue jumped 11% in 2020, while EBIT margin (calculated off net revenue) rose to 32.1% (from 29.1%) on the back of net revenue growth, excellent cost execution, and superb headcount management.",
    "output": "[Cause] the demand rebound [Relation] cause [Effect] total net revenue jumped 11% in 2020, while EBIT margin (calculated off net revenue) rose to 32.1% (from 29.1%) on the back of net revenue growth, excellent cost execution, and superb headcount management",
    "gold": "[Cause]  the demand rebound [Relation] cause [Effect]  total net revenue jumped 11% in 2020, while EBIT margin (calculated off net revenue) rose to 32.1% (from 29.1%) on the back of net revenue growth, excellent cost execution, and superb headcount management",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After Five Below's post-holiday sales drove fourth-quarter comparable growth to nearly 14% (from 10% over the holidays) and with more economic stimulus on the way, we are lifting our valuation to $124 per share (from $114).",
    "output": "[Cause] Five Below's post-holiday sales [Relation] enable [Effect] fourth-quarter comparable growth to nearly 14% (from 10% over the holidays) and with more economic stimulus on the way, we are lifting our valuation to $124 per share (from $114)",
    "gold": "[Cause] more economic stimulus on the way [Relation] cause [Effect] lifting our valuation to $124 per share (from $114)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These solutions were typically from different vendors, and were expensive to build, maintain, and update to infrastructure or business demand changes.",
    "output": "[Cause] These solutions were typically from different vendors [Relation] cause [Effect] expensive to build, maintain, and update to infrastructure or business demand changes",
    "gold": "[Cause] These solutions were typically from different vendors [Relation] cause [Effect] expensive to build, maintain, and update to infrastructure or business demand changes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Prudential's fastest-growing distribution channel is Pulse by Prudential, its new mobile application where the business can drive economies of scale and significant efficiency.",
    "output": "[Cause] Pulse by Prudential [Relation] enable [Effect] the business can drive economies of scale and significant efficiency",
    "gold": "[Cause] its new mobile application [Relation] cause [Effect] economies of scale and significant efficiency",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Prudential's fastest-growing distribution channel is Pulse by Prudential, its new mobile application where the business can drive economies of scale and significant efficiency.",
    "output": "[Cause] its new mobile application [Relation] enable [Effect] economies of scale and significant efficiency",
    "gold": "[Cause] Prudential [Relation] cause [Effect] fastest-growing distribution channel",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given that competition for talent in the Chinese Internet industry should remain intense, we think labor costs, particularly in research and development, would continue to rise in absolute terms in the long term.",
    "output": "[Cause] competition for talent in the Chinese Internet industry should remain intense [Relation] cause [Effect] labor costs, particularly in research and development, would continue to rise in absolute terms in the long term",
    "gold": "[Cause] competition for talent in the Chinese Internet industry should remain intense [Relation] cause [Effect] labor costs, particularly in research and development, would continue to rise in absolute terms in the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As he is putting together the ingredients and seasoning the dish, he has to constantly taste the stew and adjust the seasoning and ingredients to create the perfect recipe.",
    "output": "[Cause] he has to constantly taste the stew and adjust the seasoning and ingredients [Relation] enable [Effect] create the perfect recipe",
    "gold": "[Cause] he has to constantly taste the stew and adjust the seasoning and ingredients [Relation] enable [Effect] create the perfect recipe",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For one, given consumers make frequent purchases and typically face no switching costs, firms must continually invest behind their brands to drive sales.",
    "output": "[Cause] consumers make frequent purchases and typically face no switching costs [Relation] cause [Effect] firms must continually invest behind their brands to drive sales",
    "gold": "[Cause] consumers make frequent purchases and typically face no switching costs [Relation] cause [Effect] firms must continually invest behind their brands to drive sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast EBIT margins rising modestly throughout our forecast stemming from improvements in the supply chain and infrastructure, which could be held back by higher spending if the firm sets up an owned brick-and-mortar network internationally.",
    "output": "[Cause] the firm sets up an owned brick-and-mortar network internationally [Relation] prevent [Effect] EBIT margins rising modestly throughout our forecast stemming from improvements in the supply chain and infrastructure",
    "gold": "[Cause] the firm sets up an owned brick-and-mortar network internationally [Relation] cause [Effect] could be held back by higher spending",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect a portion of the industry's idled paper capacity to be converted to linerboard production, attracted by the corrugated packaging industry's healthier economics.",
    "output": "[Cause] the corrugated packaging industry's healthier economics [Relation] cause [Effect] a portion of the industry's idled paper capacity to be converted to linerboard production",
    "gold": "[Cause] the corrugated packaging industry's healthier economics [Relation] enable [Effect]  a portion of the industry's idled paper capacity to be converted to linerboard production",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, since a large percentage of sales come from Lantus, the company faces additional product specific risks from competitive drug launches from Eli Lilly, Novo Nordisk, and potentially several other generic companies.",
    "output": "[Cause] a large percentage of sales come from Lantus [Relation] cause [Effect] the company faces additional product specific risks from competitive drug launches from Eli Lilly, Novo Nordisk, and potentially several other generic companies",
    "gold": "[Cause]  a large percentage of sales come from Lantus [Relation] enable [Effect] the company faces additional product specific risks from competitive drug launches from Eli Lilly, Novo Nordisk, and potentially several other generic companies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Consumer spending and GDP are interrelated, and a recession would greatly lower demand for industrial facilities as retail sales plunge.",
    "output": "[Cause] retail sales plunge [Relation] cause [Effect] a recession would greatly lower demand for industrial facilities",
    "gold": "[Cause] a recession [Relation] cause [Effect] retail sales plunge",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think that the costs of even shorter-term projects under Cognizant's consulting and technology services umbrella bear switching costs because of the high costs of failure if software implementation does not go as planned or if quality assurance testers fail to detect software vulnerabilities.",
    "output": "[Cause] the high costs of failure if software implementation does not go as planned or if quality assurance testers fail to detect software vulnerabilities [Relation] cause [Effect] the costs of even shorter-term projects under Cognizant's consulting and technology services umbrella bear switching costs",
    "gold": "[Cause] the high costs of failure if software implementation does not go as planned or if quality assurance testers fail to detect software vulnerabilities [Relation] cause [Effect] the costs of even shorter-term projects under Cognizant's consulting and technology services umbrella bear switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, Corteva is in the process of rebuilding its crop chemicals portfolio after having to sell a sizable portion of premium legacy DuPont's crop chemicals products to FMC in order to gain regulatory clearance for the DowDuPont merger.",
    "output": "[Cause] having to sell a sizable portion of premium legacy DuPont's crop chemicals products to FMC [Relation] enable [Effect] gain regulatory clearance for the DowDuPont merger",
    "gold": "[Cause] in order to gain regulatory clearance for the DowDuPont merger [Relation] cause [Effect] Additionally, Corteva is in the process of rebuilding its crop chemicals portfolio after having to sell a sizable portion of premium legacy DuPont's crop chemicals products to FMC",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company's focus on using search engine optimization, topical blogs, and network referrals to attract SMB users suggests to us that there should be leverage in the sales and marketing line to help increase operating margins over time.",
    "output": "[Cause] The company's focus on using search engine optimization, topical blogs, and network referrals to attract SMB users [Relation] cause [Effect] there should be leverage in the sales and marketing line to help increase operating margins over time",
    "gold": "[Cause] leverage in the sales and marketing line [Relation] enable [Effect]  increase operating margins over time",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For example, in 2018, gaming license approval in China was suspended as a result of restructuring of government departments.",
    "output": "[Cause] restructuring of government departments [Relation] cause [Effect] gaming license approval in China was suspended",
    "gold": "[Cause] restructuring of government departments [Relation] cause [Effect] gaming license approval in China was suspended",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, NetApp's software suite allows customers to monitor and move data across all their network environments to ensure security and resource optimization.",
    "output": "[Cause] NetApp's software suite allows customers to monitor and move data across all their network environments [Relation] enable [Effect] ensure security and resource optimization",
    "gold": "[Cause]  NetApp's software suite allows customers to monitor and move data across all their network environments [Relation] enable [Effect] ensure security and resource optimization",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see the net charge-off ratio normalizing above 0.3% as Cullen/Frost increases the overall mix of its loans coming from consumer lending, although we anticipate elevated losses in 2020 and 2021 as the latest energy downturn and COVID-19 plays out.",
    "output": "[Cause] Cullen/Frost increases the overall mix of its loans coming from consumer lending [Relation] cause [Effect] the net charge-off ratio normalizing above 0.3%",
    "gold": "[Cause] Cullen/Frost increases the overall mix of its loans coming from consumer lending [Relation] cause [Effect] the net charge-off ratio normalizing above 0.3%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see the net charge-off ratio normalizing above 0.3% as Cullen/Frost increases the overall mix of its loans coming from consumer lending, although we anticipate elevated losses in 2020 and 2021 as the latest energy downturn and COVID-19 plays out.",
    "output": "[Cause] the latest energy downturn and COVID-19 plays out [Relation] cause [Effect] elevated losses in 2020 and 2021",
    "gold": "[Cause]  the latest energy downturn and COVID-19 plays out [Relation] cause [Effect] elevated losses in 2020 and 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Eastman grows its specialty polymers and resins products and divests more commotidized business lines, such as its rubber additives portfolio, we see margins expanding from the mid-teens to the low-20% range over our five-year explicit forecast.",
    "output": "[Cause] Eastman grows its specialty polymers and resins products and divests more commotidized business lines, such as its rubber additives portfolio [Relation] cause [Effect] margins expanding from the mid-teens to the low-20% range over our five-year explicit forecast",
    "gold": "[Cause] As Eastman grows its specialty polymers and resins products and divests more commotidized business lines [Relation] enable [Effect] we see margins expanding from the mid-teens to the low-20% range over our five-year explicit forecast.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Zions is also not large enough to be subject to the Fed's stress tests because it has less than $100 billion in assets.",
    "output": "[Cause] it has less than $100 billion in assets [Relation] cause [Effect] Zions is also not large enough to be subject to the Fed's stress tests",
    "gold": "[Cause] it has less than $100 billion in assets [Relation] cause [Effect] Zions is also not large enough to be subject to the Fed's stress tests",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company issued a press release in May 2021 indicating prices will increase 5% in the firm's beauty and home care segment, and the firm may face pushback from price-sensitive customers in these markets.",
    "output": "[Cause] prices will increase 5% in the firm's beauty and home care segment [Relation] cause [Effect] the firm may face pushback from price-sensitive customers in these markets",
    "gold": "[Cause] prices will increase 5% in the firm's beauty and home care segment [Relation] cause [Effect]  the firm may face pushback from price-sensitive customers in these markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the company lacks the established global network that took competitors such as Discovery and Fox years to build out, the acquisition of Chellomedia in 2014 helped to kick-start the process for AMC by providing platforms to distribute the programming from AMC and the other channels.",
    "output": "[Cause] the acquisition of Chellomedia in 2014 [Relation] enable [Effect] kick-start the process for AMC",
    "gold": "[Cause] the acquisition of Chellomedia in 2014 [Relation] enable [Effect] providing platforms to distribute the programming from AMC and the other channels",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the company lacks the established global network that took competitors such as Discovery and Fox years to build out, the acquisition of Chellomedia in 2014 helped to kick-start the process for AMC by providing platforms to distribute the programming from AMC and the other channels.",
    "output": "[Cause] the acquisition of Chellomedia in 2014 [Relation] enable [Effect] kick-start the process for AMC",
    "gold": "[Cause] providing platforms to distribute the programming from AMC and the other channels [Relation] enable [Effect]  to kick-start the process for AMC",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Still, its management claims production efficiency has increased by one third in the past decade and economies of scale have reduced unit production costs of underwear by 15%-20% (depending on the market).",
    "output": "[Cause] economies of scale [Relation] enable [Effect] reduced unit production costs of underwear by 15%-20% (depending on the market)",
    "gold": "[Cause] economies of scale [Relation] cause [Effect] reduced unit production costs of underwear by 15%-20% (depending on the market)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think FDA approval for Cooper's innovative myopia management product for children as young as 8 provides the company a unique opportunity to expand its addressable market and build up its switching costs, as adolescents begin to be fitted with Cooper's products at younger ages.",
    "output": "[Cause] adolescents begin to be fitted with Cooper's products at younger ages [Relation] cause [Effect] FDA approval for Cooper's innovative myopia management product for children as young as 8 provides the company a unique opportunity to expand its addressable market and build up its switching costs",
    "gold": "[Cause] adolescents begin to be fitted with Cooper's products at younger ages [Relation] enable [Effect] FDA approval for Cooper's innovative myopia management product for children as young as 8 provides the company a unique opportunity to expand its addressable market and build up its switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although COVID-19 and the discontinuation of the C9 label at Target hurt sales in 2020, we believe Champion will continue its growth path in 2021 as it and other activewear apparel have become more than just athletic apparel and are increasingly worn as lifestyle/fashion brands.",
    "output": "[Cause] it and other activewear apparel have become more than just athletic apparel and are increasingly worn as lifestyle/fashion brands [Relation] cause [Effect] Champion will continue its growth path in 2021",
    "gold": "[Cause] the discontinuation of the C9 label at Target [Relation] cause [Effect] hurt sales in 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although COVID-19 and the discontinuation of the C9 label at Target hurt sales in 2020, we believe Champion will continue its growth path in 2021 as it and other activewear apparel have become more than just athletic apparel and are increasingly worn as lifestyle/fashion brands.",
    "output": "[Cause] it and other activewear apparel have become more than just athletic apparel and are increasingly worn as lifestyle/fashion brands [Relation] cause [Effect] Champion will continue its growth path in 2021",
    "gold": "[Cause] it and other activewear apparel have become more than just athletic apparel and are increasingly worn as lifestyle/fashion brands [Relation] cause [Effect] Champion will continue its growth path in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we would like to see a higher share of retail deposits given the large mortgage book--a loan/deposit ratio of 143% in the retail segment seems high to us--we believe Lloyds performs well on this metric in absolute terms.",
    "output": "[Cause] the large mortgage book--a loan/deposit ratio of 143% in the retail segment seems high to us [Relation] cause [Effect] we would like to see a higher share of retail deposits",
    "gold": "[Cause]  the large mortgage book--a loan/deposit ratio of 143% in the retail segment seems high to us [Relation] cause [Effect] we would like to see a higher share of retail deposits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Grifols saw improvements to gross margins as it benefited from Talecris' expertise in IVIG yields and from its ability to market more of the plasma protein it isolates via Talecris' brands.",
    "output": "[Cause] it benefited from Talecris' expertise in IVIG yields and from its ability to market more of the plasma protein it isolates via Talecris' brands [Relation] cause [Effect] Grifols saw improvements to gross margins",
    "gold": "[Cause]  it benefited from Talecris' expertise in IVIG yields and from its ability to market more of the plasma protein it isolates via Talecris' brands [Relation] cause [Effect] Grifols saw improvements to gross margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its reliance on relatively small merchants could be a material negative for the company in a downturn, as small merchants could fail in large numbers.",
    "output": "[Cause] small merchants could fail in large numbers [Relation] cause [Effect] Its reliance on relatively small merchants could be a material negative for the company in a downturn",
    "gold": "[Cause] small merchants could fail in large numbers [Relation] cause [Effect] Its reliance on relatively small merchants could be a material negative for the company in a downturn",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are concerned that the high historical growth the company experienced in monopolistic conditions is starting to wane in the face of mounting competition.",
    "output": "[Cause] mounting competition [Relation] cause [Effect] the high historical growth the company experienced in monopolistic conditions is starting to wane",
    "gold": "[Cause] mounting competition [Relation] cause [Effect] the high historical growth the company experienced in monopolistic conditions is starting to wane",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We foresee ROICs ticking down slightly over the next year or two as the company's move to the cloud matures.",
    "output": "[Cause] the company's move to the cloud matures [Relation] cause [Effect] ROICs ticking down slightly over the next year or two",
    "gold": "[Cause] the company's move to the cloud matures [Relation] cause [Effect] ROICs ticking down slightly over the next year or two",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thus, we think these companies could more easily retain listeners, given their larger overall ecosystems of offerings, so we believe a sizable reduction in Spotify's customer acquisition costs will be difficult.",
    "output": "[Cause] given their larger overall ecosystems of offerings [Relation] cause [Effect] we think these companies could more easily retain listeners",
    "gold": "[Cause]  their larger overall ecosystems of offerings [Relation] cause [Effect] a sizable reduction in Spotify's customer acquisition costs will be difficult",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect the break-even cost curve to materially flatten by midcycle, a function of likely lower demand as China's economy matures, loss of market share by high-cost producers, greater efficiency from the miners, and, for Vale, a recovery in output following restrictions from tailings dam failures and the coronavirus.",
    "output": "[Cause] China's economy matures, loss of market share by high-cost producers, greater efficiency from the miners, and, for Vale, a recovery in output following restrictions from tailings dam failures and the coronavirus [Relation] cause [Effect] the break-even cost curve to materially flatten by midcycle",
    "gold": "[Cause] China's economy matures, loss of market share by high-cost producers, greater efficiency from the miners, and, for Vale, a recovery in output following restrictions from tailings dam failures and the coronavirus [Relation] cause [Effect] the break-even cost curve to materially flatten by midcycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Seagate's operating margin will fluctuate mostly in line with gross margin and market cycles, but that the firm will eke out some operating leverage over the next few years鈥攚e forecast 0.4% compound annual growth for operating expenses through 2025 compared with 2% top line growth.",
    "output": "[Cause] Seagate's operating margin will fluctuate mostly in line with gross margin and market cycles [Relation] cause [Effect] the firm will eke out some operating leverage over the next few years",
    "gold": "[Cause] Seagate's operating margin [Relation] enable [Effect] fluctuate mostly in line with gross margin and market cycles",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We acknowledge that Apple's iOS users gravitate to the App Store to purchase new applications, and the size of Apple's installed base attracts developers to build new apps for iOS.",
    "output": "[Cause] the size of Apple's installed base [Relation] enable [Effect] attracts developers to build new apps for iOS",
    "gold": "[Cause]  the size of Apple's installed base [Relation] cause [Effect]  attracts developers to build new apps for iOS",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Prior to employing Coupa, the P2P process was labor-intensive and required the usage of manual spreadsheets that generated data inefficiencies.",
    "output": "[Cause] the P2P process was labor-intensive and required the usage of manual spreadsheets [Relation] cause [Effect] data inefficiencies",
    "gold": "[Cause]  the P2P process was labor-intensive and required the usage of manual spreadsheets [Relation] cause [Effect] data inefficiencies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Manhattan benefits from having its chief rival owned by private equity, as Manhattan is not burdened with debt or a dividend in an LBO scenario the way Red Prairie is.",
    "output": "[Cause] Manhattan is not burdened with debt or a dividend in an LBO scenario the way Red Prairie is [Relation] cause [Effect] Manhattan benefits from having its chief rival owned by private equity",
    "gold": "[Cause]  Manhattan is not burdened with debt or a dividend in an LBO scenario the way Red Prairie is [Relation] cause [Effect] Manhattan benefits from having its chief rival owned by private equity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The differentiated proprieties of Danaher's tools affect the performance, accuracy, and speed of the various research projects they enable, and differentiated product features create intangible assets that inform decisions to use those tools in specific applications at the beginning of a research project.",
    "output": "[Cause] differentiated product features create intangible assets [Relation] enable [Effect] inform decisions to use those tools in specific applications at the beginning of a research project",
    "gold": "[Cause] The differentiated proprieties of Danaher's tools affect the performance, accuracy, and speed of the various research projects [Relation] enable [Effect] differentiated product features create intangible assets that inform decisions to use those tools in specific applications at the beginning of a research project",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Capital One's customers reacted to the economic uncertainty of the pandemic by increasing savings and paying off credit card debt. As a result, Capital One's credit card receivables are now a smaller part of its asset mix, placing pressure on net interest margins.",
    "output": "[Cause] Capital One's customers reacted to the economic uncertainty of the pandemic by increasing savings and paying off credit card debt [Relation] cause [Effect] Capital One's credit card receivables are now a smaller part of its asset mix, placing pressure on net interest margins",
    "gold": "[Cause] Capital One's customers reacted to the economic uncertainty of the pandemic by increasing savings and paying off credit card debt [Relation] cause [Effect] Capital One's credit card receivables are now a smaller part of its asset mix, placing pressure on net interest margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ING in its capacity as a client's primary banks has firsthand access to the cash flow information of the client, this allows ING to price better for risk and to have advance warning of clients that are experiencing cash flow difficulties.",
    "output": "[Cause] ING in its capacity as a client's primary banks has firsthand access to the cash flow information of the client [Relation] enable [Effect] ING to price better for risk and to have advance warning of clients that are experiencing cash flow difficulties",
    "gold": "[Cause] its capacity as a client's primary banks [Relation] enable [Effect] firsthand access to the cash flow information of the client",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A downturn in this industry would significantly affect the economies of these markets and affect the fundamentals for Equity Residential's assets.",
    "output": "[Cause] A downturn in this industry [Relation] cause [Effect] affect the economies of these markets and affect the fundamentals for Equity Residential's assets",
    "gold": "[Cause] A downturn in this industry [Relation] cause [Effect]  affect the economies of these markets and affect the fundamentals for Equity Residential's assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, we believe pricing gains could be bound by the hesitancy of new cruisers over the next few years, as those potential customers could opt for more safely perceived land-based vacations, given the recent media hype.",
    "output": "[Cause] the recent media hype [Relation] cause [Effect] those potential customers could opt for more safely perceived land-based vacations",
    "gold": "[Cause]  the hesitancy of new cruisers over the next few years [Relation] prevent [Effect] pricing gains",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, we believe pricing gains could be bound by the hesitancy of new cruisers over the next few years, as those potential customers could opt for more safely perceived land-based vacations, given the recent media hype.",
    "output": "[Cause] the recent media hype [Relation] cause [Effect] those potential customers could opt for more safely perceived land-based vacations",
    "gold": "[Cause] the recent media hype [Relation] cause [Effect] those potential customers could opt for more safely perceived land-based vacations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The government has an unusually strong role in the telecom market, with the ability to heavily influence pricing as well as certain costs.",
    "output": "[Cause] The government has an unusually strong role in the telecom market [Relation] enable [Effect] heavily influence pricing as well as certain costs",
    "gold": "[Cause] The government has an unusually strong role in the telecom market [Relation] cause [Effect] heavily influence pricing as well as certain costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm managed through a very difficult 2020 by sharply reducing capital spending, a nearly 90% dividend reduction, and expense cuts.",
    "output": "[Cause] sharply reducing capital spending, a nearly 90% dividend reduction, and expense cuts [Relation] enable [Effect] The firm managed through a very difficult 2020",
    "gold": "[Cause] sharply reducing capital spending, a nearly 90% dividend reduction, and expense cuts [Relation] cause [Effect] The firm managed through a very difficult 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast capital expenditures as a percentage of sales drop to 3.5% annually over the next decade as store openings slow and less in-store investment is needed.",
    "output": "[Cause] store openings slow and less in-store investment is needed [Relation] cause [Effect] capital expenditures as a percentage of sales drop to 3.5% annually over the next decade",
    "gold": "[Cause]  store openings slow and less in-store investment is needed [Relation] cause [Effect]  capital expenditures as a percentage of sales drop to 3.5% annually over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As integrated solutions with both clinical trial and selling components continue to be popular with Syneos' clients, we expect commercial solutions revenue to climb to about $1.5 billion in 2025.",
    "output": "[Cause] integrated solutions with both clinical trial and selling components continue to be popular with Syneos' clients [Relation] cause [Effect] commercial solutions revenue to climb to about $1.5 billion in 2025",
    "gold": "[Cause]  integrated solutions with both clinical trial and selling components continue to be popular with Syneos' clients [Relation] cause [Effect] commercial solutions revenue to climb to about $1.5 billion in 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Eastman is well positioned to meet growing demand for auto window interlayers, including heads-up displays, and low-rolling-resistance tires, which will benefit from stricter tire regulations.",
    "output": "[Cause] stricter tire regulations [Relation] enable [Effect] meet growing demand for auto window interlayers",
    "gold": "[Cause] Eastman is well positioned [Relation] enable [Effect] meet growing demand for auto window interlayers, including heads-up displays, and low-rolling-resistance tires",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Eastman is well positioned to meet growing demand for auto window interlayers, including heads-up displays, and low-rolling-resistance tires, which will benefit from stricter tire regulations.",
    "output": "[Cause] stricter tire regulations [Relation] cause [Effect] meet growing demand for auto window interlayers, including heads-up displays, and low-rolling-resistance tires",
    "gold": "[Cause] stricter tire regulations [Relation] cause [Effect] meet growing demand for auto window interlayers, including heads-up displays, and low-rolling-resistance tires",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Each rung on the value ladder is a higher-margin service, and a shift to full-service can increase margin up to the 70% range, compared with component-only margin of 20%.",
    "output": "[Cause] Each rung on the value ladder is a higher-margin service, and a shift to full-service [Relation] enable [Effect] increase margin up to the 70% range, compared with component-only margin of 20%",
    "gold": "[Cause] Each rung on the value ladder is a higher-margin service [Relation] cause [Effect] a shift to full-service can increase margin up to the 70% range",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Expeditious data growth and low latency requirements created a requirement for next-generation storage products, and the ISG group has capitalized on being an early mover in the all-flash array market.",
    "output": "[Cause] Expeditious data growth and low latency requirements [Relation] cause [Effect] a requirement for next-generation storage products",
    "gold": "[Cause] a requirement for next-generation storage products [Relation] enable [Effect] the ISG group has capitalized on being an early mover in the all-flash array market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Most if not all affiliates of the four national broadcasters have migrated to retransmission consent over the past 20 years and thus receive a retransmission fee for each subscriber on a monthly basis from pay-television operators.",
    "output": "[Cause] Most if not all affiliates of the four national broadcasters have migrated to retransmission consent over the past 20 years [Relation] cause [Effect] receive a retransmission fee for each subscriber on a monthly basis from pay-television operators",
    "gold": "[Cause] Most if not all affiliates of the four national broadcasters have migrated to retransmission consent over the past 20 years [Relation] cause [Effect] receive a retransmission fee for each subscriber on a monthly basis from pay-television operators",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Alcohol and cigarettes are typically highly taxed, but producers of these products have established strong enough differentiation and brand intangibles that consumers are willing to pay price premiums.",
    "output": "[Cause] producers of these products have established strong enough differentiation and brand intangibles [Relation] enable [Effect] consumers are willing to pay price premiums",
    "gold": "[Cause] producers of these products have established strong enough differentiation and brand intangibles [Relation] cause [Effect] consumers are willing to pay price premiums",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assign Autodesk a medium fair value uncertainty rating, based on industry risks that software companies face in general, as well as the specific nature of Autodesk solutions.",
    "output": "[Cause] the specific nature of Autodesk solutions [Relation] cause [Effect] Autodesk a medium fair value uncertainty rating",
    "gold": "[Cause] the specific nature of Autodesk solutions [Relation] cause [Effect] Autodesk a medium fair value uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's parts distribution and extensive dealer network provide customers with aftermarket parts and reliable services to ensure their equipment operate efficiently, saving them from the headache of machine down-time and from having to search for parts independently (parts are not easy to replace).",
    "output": "[Cause] The company's parts distribution and extensive dealer network provide customers with aftermarket parts and reliable services to ensure their equipment operate efficiently [Relation] enable [Effect] saving them from the headache of machine down-time and from having to search for parts independently (parts are not easy to replace)",
    "gold": "[Cause] The company's parts distribution and extensive dealer network provide customers with aftermarket parts and reliable services to ensure their equipment operate efficiently [Relation] enable [Effect] saving them from the headache of machine down-time and from having to search for parts independently (parts are not easy to replace)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, we expect margins in the EMEA business to improve slightly given recent short-term challenges that derive from acquisition integration related expenses and negative effects from Brexit.",
    "output": "[Cause] recent short-term challenges that derive from acquisition integration related expenses and negative effects from Brexit [Relation] cause [Effect] margins in the EMEA business to improve slightly",
    "gold": "[Cause] recent short-term challenges that derive from acquisition integration related expenses and negative effects from Brexit [Relation] cause [Effect] margins in the EMEA business to improve slightly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the addition of Life and Patheon, the company's consumable and services business is even more massive (accounting for 75% of total sales), further entrenching its customer base.",
    "output": "[Cause] the addition of Life and Patheon [Relation] cause [Effect] the company's consumable and services business is even more massive (accounting for 75% of total sales)",
    "gold": "[Cause] the addition of Life and Patheon [Relation] cause [Effect] the company's consumable and services business is even more massive (accounting for 75% of total sales)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The invested capital base was inflated by substantial procyclical investment during the height of the China boom, the rot setting in by overpaying for Alcan, and subsequent iron ore expansion; the combination of these factors means midcycle returns are likely to remain below the cost of capital.",
    "output": "[Cause] The invested capital base was inflated by substantial procyclical investment during the height of the China boom, the rot setting in by overpaying for Alcan, and subsequent iron ore expansion [Relation] cause [Effect] midcycle returns are likely to remain below the cost of capital",
    "gold": "[Cause] substantial procyclical investment [Relation] cause [Effect] The invested capital base was inflated",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Within the pipeline, the astute acquisition of Medarex helps secure Bristol's strong first-mover advantage in cancer immunotherapy, which should yield several major blockbuster compounds.",
    "output": "[Cause] the astute acquisition of Medarex [Relation] enable [Effect] secure Bristol's strong first-mover advantage in cancer immunotherapy",
    "gold": "[Cause]  the astute acquisition of Medarex [Relation] cause [Effect] secure Bristol's strong first-mover advantage in cancer immunotherapy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Within the pipeline, the astute acquisition of Medarex helps secure Bristol's strong first-mover advantage in cancer immunotherapy, which should yield several major blockbuster compounds.",
    "output": "[Cause] secure Bristol's strong first-mover advantage in cancer immunotherapy [Relation] enable [Effect] yield several major blockbuster compounds",
    "gold": "[Cause] secure Bristol's strong first-mover advantage in cancer immunotherapy [Relation] cause [Effect]  yield several major blockbuster compounds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we suspect that intense competition will necessitate continued investment to keep the stores fresh, with significant risk associated with any missteps in providing an appealing shopping experience to core customers (and their parents).",
    "output": "[Cause] intense competition [Relation] cause [Effect] continued investment to keep the stores fresh",
    "gold": "[Cause]  continued investmen [Relation] enable [Effect]  the stores fresh",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Raw material costs for cocoa, sugar, dairy, and grains can fluctuate and may eat into Mondelez's profits from time to time.",
    "output": "[Cause] Raw material costs for cocoa, sugar, dairy, and grains can fluctuate [Relation] cause [Effect] eat into Mondelez's profits from time to time",
    "gold": "[Cause] Raw material costs for cocoa, sugar, dairy, and grains can fluctuate [Relation] cause [Effect] eat into Mondelez's profits from time to time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, the company relies on acquisitions for some of its revenue growth, so there is always the risk that it will not find enough suitable deals, overpay for an acquisition, or incur problems integrating new dealers.",
    "output": "[Cause] the company relies on acquisitions for some of its revenue growth [Relation] cause [Effect] there is always the risk that it will not find enough suitable deals, overpay for an acquisition, or incur problems integrating new dealers",
    "gold": "[Cause] the company relies on acquisitions for some of its revenue growth [Relation] cause [Effect] there is always the risk that it will not find enough suitable deals, overpay for an acquisition, or incur problems integrating new dealers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The all-equity deal will give Enable unitholders nearly three times the number of units we think is fair based on our Energy Transfer valuation and Enable's market price as of mid-April.",
    "output": "[Cause] The all-equity deal [Relation] enable [Effect] Enable unitholders nearly three times the number of units we think is fair based on our Energy Transfer valuation and Enable's market price as of mid-April",
    "gold": "[Cause] our Energy Transfer valuation and Enable's market price as of mid-April [Relation] cause [Effect] The all-equity deal will give Enable unitholders nearly three times the number of units we think is fair based",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We estimate that roughly half of United's operating costs are fixed in the medium term and expect negative operating leverage to lead to near-term losses across the industry.",
    "output": "[Cause] negative operating leverage [Relation] cause [Effect] near-term losses across the industry",
    "gold": "[Cause] negative operating leverage [Relation] cause [Effect] near-term losses across the industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Conversely, we believe that NetApp faces considerable challenges as the overall storage market is expected to decline, cloud providers presumably opt for white-box solutions, and the cloud-based data management software environment becomes increasingly competitive.",
    "output": "[Cause] the overall storage market is expected to decline, cloud providers presumably opt for white-box solutions, and the cloud-based data management software environment becomes increasingly competitive [Relation] cause [Effect] NetApp faces considerable challenges",
    "gold": "[Cause] the overall storage market is expected to decline, cloud providers presumably opt for white-box solutions, and the cloud-based data management software environment becomes increasingly competitive [Relation] cause [Effect]  NetApp faces considerable challenges",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we believe COVID-19 disruptions may result in some restructuring situations and restaurant closures in 2020 among RBI's franchisee base, the operational strategies behind its core brands--Burger King, Tim Hortons, and Popeyes Louisiana Kitchen--should help position the company for longer-term market share gains.",
    "output": "[Cause] COVID-19 disruptions [Relation] cause [Effect] some restructuring situations and restaurant closures in 2020 among RBI's franchisee base",
    "gold": "[Cause] COVID-19 disruptions [Relation] cause [Effect] some restructuring situations and restaurant closures in 2020 among RBI's franchisee base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think JD doesn't have the same scale in every category compared with the respective offline category leader, we expect the gross margin to improve as JD's bargaining power against suppliers increases along with its scale.",
    "output": "[Cause] JD's bargaining power against suppliers increases along with its scale [Relation] cause [Effect] the gross margin to improve",
    "gold": "[Cause] JD's bargaining power against suppliers increases along with its scale [Relation] cause [Effect] the gross margin to improve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm has divested low-margin segments that were outside its core competency of emergency communications infrastructure and two-way radios while increasing investment in software and services, which helps make its competitive position more secure and provides greater visibility as much of this revenue is recurring in nature.",
    "output": "[Cause] The firm has divested low-margin segments that were outside its core competency of emergency communications infrastructure and two-way radios while increasing investment in software and services [Relation] enable [Effect] its competitive position more secure and provides greater visibility as much of this revenue is recurring in nature",
    "gold": "[Cause] The firm has divested low-margin segments that were outside its core competency of emergency communications infrastructure and two-way radios while increasing investment in software and services [Relation] enable [Effect]  its competitive position more secure and provides greater visibility as much of this revenue is recurring in nature",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the technology and analytics segment will grow in the low double digits to mid single digits over the next five years as life sciences data and analytics continue to play a larger role in clinical trials and other mission-critical processes for the biopharma industry.",
    "output": "[Cause] life sciences data and analytics continue to play a larger role in clinical trials and other mission-critical processes for the biopharma industry [Relation] cause [Effect] the technology and analytics segment will grow in the low double digits to mid single digits over the next five years",
    "gold": "[Cause] life sciences data and analytics continue to play a larger role in clinical trials and other mission-critical processes for the biopharma industry [Relation] cause [Effect]  the technology and analytics segment will grow in the low double digits to mid single digits over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We still expect uneven near-term industry guest traffic volatility as consumers adjust to restaurant operating changes, uncertainty about government assistance persists, and COVID-19-containment restrictions remain in place.",
    "output": "[Cause] consumers adjust to restaurant operating changes, uncertainty about government assistance persists, and COVID-19-containment restrictions remain in place [Relation] cause [Effect] uneven near-term industry guest traffic volatility",
    "gold": "[Cause] consumers adjust to restaurant operating changes, uncertainty about government assistance persists, and COVID-19-containment restrictions remain in place [Relation] cause [Effect] uneven near-term industry guest traffic volatility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our base case, Guardant sees an immediate sales uptake in 2024 once its Lunar-2 colorectal early screening test gets FDA approval, with the firm's top-line growth averaging about 30% through our forecast period after market approval.",
    "output": "[Cause] its Lunar-2 colorectal early screening test gets FDA approval [Relation] cause [Effect] Guardant sees an immediate sales uptake in 2024",
    "gold": "[Cause] an immediate sales uptake in 2024 once its Lunar-2 colorectal early screening test gets FDA approval [Relation] cause [Effect] the firm's top-line growth averaging about 30% through our forecast period after market approval",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect Thermo's contract manufacturing business will pick up the mantle in 2021 as the likely vaccine manufacturing efforts will accelerate globally.",
    "output": "[Cause] the likely vaccine manufacturing efforts will accelerate globally [Relation] cause [Effect] Thermo's contract manufacturing business will pick up the mantle in 2021",
    "gold": "[Cause] the likely vaccine manufacturing efforts will accelerate globally [Relation] cause [Effect] Thermo's contract manufacturing business will pick up the mantle in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project that Nasdaq's operating margin will dip slightly in 2022 as trading volumes normalize but that it will then expand, supported by improving margins in its market technology segment, reaching 43% by the end of 2025.",
    "output": "[Cause] trading volumes normalize [Relation] cause [Effect] Nasdaq's operating margin will dip slightly in 2022",
    "gold": "[Cause]  trading volumes normalize [Relation] cause [Effect] Nasdaq's operating margin will dip slightly in 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project that Nasdaq's operating margin will dip slightly in 2022 as trading volumes normalize but that it will then expand, supported by improving margins in its market technology segment, reaching 43% by the end of 2025.",
    "output": "[Cause] improving margins in its market technology segment [Relation] enable [Effect] reaching 43% by the end of 2025",
    "gold": "[Cause]  improving margins in its market technology segment [Relation] enable [Effect]  it will then expand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We're raising our fair value estimate for Coca-Cola Femsa to $65 per ADR from $60, primarily reflecting time value and appreciation in the Mexican peso.",
    "output": "[Cause] reflecting time value and appreciation in the Mexican peso [Relation] cause [Effect] raising our fair value estimate for Coca-Cola Femsa to $65 per ADR from $60",
    "gold": "[Cause] reflecting time value and appreciation in the Mexican peso [Relation] cause [Effect] raising our fair value estimate for Coca-Cola Femsa to $65 per ADR from $60",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that local governments are inherently different than typical enterprise software users in that they are not trying to attract new customers or drive profitability.",
    "output": "[Cause] they are not trying to attract new customers or drive profitability [Relation] cause [Effect] local governments are inherently different than typical enterprise software users",
    "gold": "[Cause] they are not trying to attract new customers or drive profitability [Relation] enable [Effect] local governments are inherently different than typical enterprise software users",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With its national scale, broad product portfolio, and inventory management services, we believe Fastenal can capitalize on this trend and take market share from smaller and less capable distributors.",
    "output": "[Cause] its national scale, broad product portfolio, and inventory management services [Relation] enable [Effect] Fastenal can capitalize on this trend and take market share from smaller and less capable distributors",
    "gold": "[Cause] its national scale, broad product portfolio, and inventory management services [Relation] enable [Effect] Fastenal can capitalize on this trend and take market share from smaller and less capable distributors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This sort of local scale advantage allows for much greater negotiating leverage versus healthcare suppliers than smaller insurers in each market, which adds to UnitedHealth's cost advantage.",
    "output": "[Cause] This sort of local scale advantage allows for much greater negotiating leverage versus healthcare suppliers than smaller insurers in each market [Relation] enable [Effect] adds to UnitedHealth's cost advantage",
    "gold": "[Cause] This sort of local scale advantage allows for much greater negotiating leverage versus healthcare suppliers than smaller insurers in each market [Relation] enable [Effect] adds to UnitedHealth's cost advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given this long product cycle, airlines tend to be conservative purchasers because they want to be reasonably certain that the manufacturer will be operating and able to service the aircraft over its useful life.",
    "output": "[Cause] they want to be reasonably certain that the manufacturer will be operating and able to service the aircraft over its useful life [Relation] cause [Effect] airlines tend to be conservative purchasers",
    "gold": "[Cause]  this long product cycle [Relation] cause [Effect] airlines tend to be conservative purchasers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Pandemic lockdowns weighed on freight demand in early 2020, but retail shipments turned robust in the second half on strong inventory restocking, and industrial end markets are recovering off pandemic lows.",
    "output": "[Cause] Pandemic lockdowns [Relation] prevent [Effect] freight demand in early 2020",
    "gold": "[Cause] Pandemic lockdowns [Relation] enable [Effect] weighed on freight demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Pandemic lockdowns weighed on freight demand in early 2020, but retail shipments turned robust in the second half on strong inventory restocking, and industrial end markets are recovering off pandemic lows.",
    "output": "[Cause] strong inventory restocking [Relation] cause [Effect] retail shipments turned robust in the second half",
    "gold": "[Cause] strong inventory restocking [Relation] cause [Effect] retail shipments turned robust in the second half",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Pandemic lockdowns weighed on freight demand in early 2020, but retail shipments turned robust in the second half on strong inventory restocking, and industrial end markets are recovering off pandemic lows.",
    "output": "[Cause] strong inventory restocking [Relation] cause [Effect] retail shipments turned robust in the second half",
    "gold": "[Cause] retail shipments turned robust in the second half [Relation] cause [Effect] industrial end markets are recovering off pandemic lows",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think the vaccine's excellent efficacy, strong supply, and early leadership on the market all support $13 billion in 2021 Comirnaty sales and $6 billion in 2022 sales (and roughly 50% of gross profits flowing to BioNTech).",
    "output": "[Cause] the vaccine's excellent efficacy, strong supply, and early leadership on the market [Relation] enable [Effect] $13 billion in 2021 Comirnaty sales and $6 billion in 2022 sales (and roughly 50% of gross profits flowing to BioNTech)",
    "gold": "[Cause] the vaccine's excellent efficacy, strong supply, and early leadership on the market [Relation] enable [Effect] $13 billion in 2021 Comirnaty sales and $6 billion in 2022 sales (and roughly 50% of gross profits flowing to BioNTech)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, we now forecast RH's terminal operating margin at 24% (22.2% prior), reflecting the increasing possibility that the company's evolution to an integrated luxury brand could offer the ability to tap into a larger total addressable market, rather than solely a furniture-seeking cohort.",
    "output": "[Cause] the increasing possibility that the company's evolution to an integrated luxury brand could offer the ability to tap into a larger total addressable market, rather than solely a furniture-seeking cohort [Relation] cause [Effect] RH's terminal operating margin at 24% (22.2% prior)",
    "gold": "[Cause] RH's terminal operating margin at 24% (22.2% prior) [Relation] enable [Effect] the increasing possibility that the company's evolution to an integrated luxury brand could offer the ability to tap into a larger total addressable market, rather than solely a furniture-seeking cohort",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Each root server is connected to thousands of DNS servers, with the user's query usually linked to one closest to them to minimize wait time.",
    "output": "[Cause] Each root server is connected to thousands of DNS servers [Relation] enable [Effect] minimize wait time",
    "gold": "[Cause] the user's query usually linked to one closest [Relation] enable [Effect] to minimize wait time",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Risks include another unexpected drop in global vehicle demand if a second wave of coronavirus shuts down factories and dealerships again, an unfavorable shift in vehicle mix, execution risk of globally expanding brands, difficulty in the company's foreign brands penetrating the U.S.",
    "output": "[Cause] another unexpected drop in global vehicle demand [Relation] cause [Effect] an unfavorable shift in vehicle mix",
    "gold": "[Cause] another unexpected drop in global vehicle demand [Relation] cause [Effect] Risks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Risks include another unexpected drop in global vehicle demand if a second wave of coronavirus shuts down factories and dealerships again, an unfavorable shift in vehicle mix, execution risk of globally expanding brands, difficulty in the company's foreign brands penetrating the U.S.",
    "output": "[Cause] an unfavorable shift in vehicle mix [Relation] cause [Effect] Risks",
    "gold": "[Cause] a second wave of coronavirus shuts down factories and dealerships again [Relation] cause [Effect] another unexpected drop in global vehicle demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Risks include another unexpected drop in global vehicle demand if a second wave of coronavirus shuts down factories and dealerships again, an unfavorable shift in vehicle mix, execution risk of globally expanding brands, difficulty in the company's foreign brands penetrating the U.S.",
    "output": "[Cause] an unfavorable shift in vehicle mix [Relation] cause [Effect] Risks",
    "gold": "[Cause] an unfavorable shift in vehicle mix [Relation] cause [Effect] Risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Risks include another unexpected drop in global vehicle demand if a second wave of coronavirus shuts down factories and dealerships again, an unfavorable shift in vehicle mix, execution risk of globally expanding brands, difficulty in the company's foreign brands penetrating the U.S.",
    "output": "[Cause] an unfavorable shift in vehicle mix [Relation] cause [Effect] Risks",
    "gold": "[Cause] execution risk of globally expanding brands [Relation] cause [Effect] Risks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Risks include another unexpected drop in global vehicle demand if a second wave of coronavirus shuts down factories and dealerships again, an unfavorable shift in vehicle mix, execution risk of globally expanding brands, difficulty in the company's foreign brands penetrating the U.S.",
    "output": "[Cause] an unfavorable shift in vehicle mix [Relation] cause [Effect] Risks",
    "gold": "[Cause]  difficulty in the company's foreign brands penetrating the U.S. [Relation] cause [Effect] Risks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the COVID-19 crisis has adversely impacted its 2020 results, we think Hanes' share leadership in replenishment apparel categories puts it in better shape than some competitors.",
    "output": "[Cause] Hanes' share leadership in replenishment apparel categories [Relation] enable [Effect] puts it in better shape than some competitors",
    "gold": "[Cause]  the COVID-19 crisis [Relation] prevent [Effect]  its 2020 results",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We're confident in increasing attach rates--because we know there's significant adoption opportunities available given FINS' 30% attach rate and planning's 18% attach rate, as an example.",
    "output": "[Cause] FINS' 30% attach rate and planning's 18% attach rate [Relation] cause [Effect] there's significant adoption opportunities available",
    "gold": "[Cause]  there's significant adoption opportunities available [Relation] cause [Effect]  increasing attach rates",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We're confident in increasing attach rates--because we know there's significant adoption opportunities available given FINS' 30% attach rate and planning's 18% attach rate, as an example.",
    "output": "[Cause] FINS' 30% attach rate and planning's 18% attach rate [Relation] cause [Effect] there's significant adoption opportunities available",
    "gold": "[Cause]  FINS' 30% attach rate and planning's 18% attach rate [Relation] cause [Effect]  there's significant adoption opportunities available",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"Internet of Things\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" is an interesting tailwind for TI, as the company's chips could be key components in a massive array of new electronics devices with improved connectivity and processing power.",
    "output": "[Cause] the company's chips could be key components in a massive array of new electronics devices with improved connectivity and processing power [Relation] cause [Effect] The \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"Internet of Things\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"",
    "gold": "[Cause] the company's chips could be key components in a massive array of new electronics devices [Relation] cause [Effect] The \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"Internet of Things\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" is an interesting tailwind for TI",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A key valuation driver to offset eventual likely Humira sales declines is the company's next-generation immunology drugs targeting the IL23 and JAK pathways as these new pathways seem to offer better efficacy and an improved side effect profile over Humira.",
    "output": "[Cause] the company's next-generation immunology drugs targeting the IL23 and JAK pathways [Relation] enable [Effect] offset eventual likely Humira sales declines",
    "gold": "[Cause] the company's next-generation immunology drugs targeting the IL23 and JAK pathways [Relation] enable [Effect]  offset eventual likely Humira sales declines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that outsourcing is an act of trust, it's possible that perceptions cast by such cases could stunt Cognizant's business.",
    "output": "[Cause] outsourcing is an act of trust [Relation] cause [Effect] it's possible that perceptions cast by such cases could stunt Cognizant's business",
    "gold": "[Cause] outsourcing is an act of trust [Relation] cause [Effect]  it's possible that perceptions cast by such cases could stunt Cognizant's business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "First, because the firm competes across food, beverage, and personal care categories, it has a broader, more complex list of raw materials and manufacturing processes than its peers.",
    "output": "[Cause] the firm competes across food, beverage, and personal care categories [Relation] cause [Effect] it has a broader, more complex list of raw materials and manufacturing processes than its peers",
    "gold": "[Cause] the firm competes across food, beverage, and personal care categories [Relation] cause [Effect] it has a broader, more complex list of raw materials and manufacturing processes than its peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Perhaps more than any other refiner, HollyFrontier has benefited from wide inland light crude differentials, thanks to the position of its refining assets.",
    "output": "[Cause] the position of its refining assets [Relation] cause [Effect] HollyFrontier has benefited from wide inland light crude differentials",
    "gold": "[Cause]  the position of its refining assets [Relation] enable [Effect]  HollyFrontier has benefited from wide inland light crude differentials",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Energy Transfer eliminated lingering concerns about its convoluted corporate structure after combining its limited and general partnerships in October 2018.",
    "output": "[Cause] combining its limited and general partnerships in October 2018 [Relation] enable [Effect] Energy Transfer eliminated lingering concerns about its convoluted corporate structure",
    "gold": "[Cause] combining its limited and general partnerships in October 2018 [Relation] enable [Effect] Energy Transfer eliminated lingering concerns about its convoluted corporate structure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since the savings from consolidating processes onto a single aircraft are so significant, many low-cost carriers, such as Southwest, Ryanair, and Spirit Airlines, base their entire fleet on a single aircraft family.",
    "output": "[Cause] the savings from consolidating processes onto a single aircraft are so significant [Relation] cause [Effect] many low-cost carriers, such as Southwest, Ryanair, and Spirit Airlines, base their entire fleet on a single aircraft family",
    "gold": "[Cause]  the savings from consolidating processes onto a single aircraft are so significant [Relation] cause [Effect] many low-cost carriers, such as Southwest, Ryanair, and Spirit Airlines, base their entire fleet on a single aircraft family",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even if we're right, we expect wireless technologies will continue to advance in the coming years, potentially disrupting Charter's business at some point.",
    "output": "[Cause] wireless technologies will continue to advance in the coming years [Relation] cause [Effect] potentially disrupting Charter's business at some point",
    "gold": "[Cause] wireless technologies will continue to advance in the coming years [Relation] cause [Effect] potentially disrupting Charter's business at some point",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect additional growth to come from Arista's push into the campus market, wireless products growth, and adding security capabilities.",
    "output": "[Cause] Arista's push into the campus market, wireless products growth, and adding security capabilities [Relation] cause [Effect] additional growth",
    "gold": "[Cause]  Arista's push into the campus market, wireless products growth, and adding security capabilities [Relation] cause [Effect]  additional growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, express' international priority volumes are seeing a lift from tight belly space capacity and B2B business has rebounded nicely on economic recovery.",
    "output": "[Cause] economic recovery [Relation] cause [Effect] B2B business has rebounded nicely",
    "gold": "[Cause]  from tight belly space capacity [Relation] enable [Effect] Also, express' international priority volumes are seeing a lift",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Competition among insurance firms is fierce, and participants have been known to slash prices or simply undercut competitors to gain market share.",
    "output": "[Cause] Competition among insurance firms is fierce [Relation] cause [Effect] participants have been known to slash prices or simply undercut competitors to gain market share",
    "gold": "[Cause] participants have been known to slash prices or simply undercut competitors to gain market share [Relation] cause [Effect] Competition among insurance firms is fierce",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As a result, Aptiv has a high degree of operating leverage, so sudden declines in volume can have a meaningful negative impact on short-term profitability.",
    "output": "[Cause] Aptiv has a high degree of operating leverage [Relation] cause [Effect] sudden declines in volume can have a meaningful negative impact on short-term profitability",
    "gold": "[Cause] Aptiv has a high degree of operating leverage [Relation] cause [Effect] sudden declines in volume can have a meaningful negative impact on short-term profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Assuming recurring pandemic lockdowns don't spark recession, we look for revenue to rise at least 5% in fiscal 2022 on persistent B2C demand growth, partly offset by tough comparisons.",
    "output": "[Cause] persistent B2C demand growth [Relation] cause [Effect] revenue to rise at least 5% in fiscal 2022",
    "gold": "[Cause]  persistent B2C demand growth [Relation] enable [Effect]  revenue to rise at least 5% in fiscal 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Eversource's annual earnings growth rate can reach 7% by 2025 if its planned offshore wind investments go smoothly.",
    "output": "[Cause] its planned offshore wind investments go smoothly [Relation] enable [Effect] Eversource's annual earnings growth rate can reach 7% by 2025",
    "gold": "[Cause] its planned offshore wind investments go smoothly [Relation] enable [Effect] Eversource's annual earnings growth rate can reach 7% by 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The lower-margin fuel, health, and proximity businesses outpacing Coca-Cola Femsa is a structural headwind for the consolidated entity, but we still believe margins can expand, facilitated by underlying improvement at each business unit.",
    "output": "[Cause] underlying improvement at each business unit [Relation] enable [Effect] margins can expand",
    "gold": "[Cause] underlying improvement at each business unit [Relation] enable [Effect] margins can expand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Large product lines help distributors like Anixter or Wesco eliminate the back-office cost of dealing with many suppliers, which leads to Hubbell receiving superior pricing with these key distributors.",
    "output": "[Cause] Large product lines help distributors like Anixter or Wesco eliminate the back-office cost of dealing with many suppliers [Relation] cause [Effect] Hubbell receiving superior pricing with these key distributors",
    "gold": "[Cause] Large product lines help distributors like Anixter or Wesco eliminate the back-office cost of dealing with many suppliers [Relation] cause [Effect] Hubbell receiving superior pricing with these key distributors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the company can achieve its target of $350 million in cost synergies, and also that the scalable nature of the business will allow for economies of scale given this growth.",
    "output": "[Cause] the scalable nature of the business [Relation] enable [Effect] economies of scale given this growth",
    "gold": "[Cause]  the scalable nature of the business [Relation] cause [Effect] economies of scale given this growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our belief is that the larger the customer is, the stickier the software vendor is because the implementation costs and risks are compounded across geographies, business units, and touch points.",
    "output": "[Cause] the implementation costs and risks are compounded across geographies, business units, and touch points [Relation] cause [Effect] the larger the customer is, the stickier the software vendor is",
    "gold": "[Cause] the implementation costs and risks are compounded across geographies, business units, and touch points [Relation] cause [Effect]  the larger the customer is, the stickier the software vendor is",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the adoption of high-low pricing has worked well in the previous years, as evidenced by the company's leading market position and margins, but that it was mainly a function of a less mature market. Consequently, we believe that AH's price differentials (especially in KVIs and price entry brands) are not sustainable in the long term.",
    "output": "[Cause] the adoption of high-low pricing has worked well in the previous years, as evidenced by the company's leading market position and margins, but that it was mainly a function of a less mature market [Relation] cause [Effect] AH's price differentials (especially in KVIs and price entry brands) are not sustainable in the long term",
    "gold": "[Cause] the adoption of high-low pricing has worked well in the previous years, as evidenced by the company's leading market position and margins, but that it was mainly a function of a less mature market [Relation] cause [Effect] AH's price differentials (especially in KVIs and price entry brands) are not sustainable in the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A new infrastructure bill is expected to be passed in the U.S., which will boost demand for infrastructure building materials.",
    "output": "[Cause] A new infrastructure bill is expected to be passed in the U.S. [Relation] enable [Effect] boost demand for infrastructure building materials",
    "gold": "[Cause] A new infrastructure bill is expected to be passed in the U.S. [Relation] enable [Effect]  boost demand for infrastructure building materials",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The negative impact of COVID-19 on air travel demand and the subsequent deferral or cancellation of new aircraft deliveries by airlines prompted management to restructure and scale back capacity to cater for the suppressed short- to medium-term demand environment.",
    "output": "[Cause] The negative impact of COVID-19 on air travel demand and the subsequent deferral or cancellation of new aircraft deliveries by airlines [Relation] cause [Effect] management to restructure and scale back capacity to cater for the suppressed short- to medium-term demand environment",
    "gold": "[Cause] The negative impact of COVID-19 on air travel demand and the subsequent deferral or cancellation of new aircraft deliveries by airlines [Relation] cause [Effect] management to restructure and scale back capacity to cater for the suppressed short- to medium-term demand environment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, there's some risk that a rising incidence of ''''nuclear verdicts'''' (for fatal crashes) against truckers pushes claims-related outflows materially higher and drives persistent insurance cost inflation.",
    "output": "[Cause] a rising incidence of ''''nuclear verdicts''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''",
    "gold": "[Cause] a rising incidence of ''''nuclear verdicts'''' (for fatal crashes) against truckers [Relation] cause [Effect] claims-related outflows materially higher",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, there's some risk that a rising incidence of ''''nuclear verdicts'''' (for fatal crashes) against truckers pushes claims-related outflows materially higher and drives persistent insurance cost inflation.",
    "output": "[Cause] persistent insurance cost inflation [Relation] cause [Effect] claims-related outflows materially higher",
    "gold": "[Cause] a rising incidence of ''''nuclear verdicts'''' (for fatal crashes) against truckers [Relation] cause [Effect] persistent insurance cost inflation",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, Shell's strategic plans call for a gradual move away from hydrocarbons, which is designed to reduce the firm's carbon intensity by 20% in 2030 and 45% in 2035 and that should further insulate it from the impact of a carbon tax.",
    "output": "[Cause] Shell's strategic plans call for a gradual move away from hydrocarbons [Relation] enable [Effect] reduce the firm's carbon intensity by 20% in 2030 and 45% in 2035",
    "gold": "[Cause] Shell's strategic plans call for a gradual move away from hydrocarbons [Relation] enable [Effect] reduce the firm's carbon intensity by 20% in 2030 and 45% in 2035",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, Shell's strategic plans call for a gradual move away from hydrocarbons, which is designed to reduce the firm's carbon intensity by 20% in 2030 and 45% in 2035 and that should further insulate it from the impact of a carbon tax.",
    "output": "[Cause] Shell's strategic plans call for a gradual move away from hydrocarbons [Relation] enable [Effect] reduce the firm's carbon intensity by 20% in 2030 and 45% in 2035",
    "gold": "[Cause] reduce the firm's carbon intensity by 20% in 2030 and 45% in 2035 [Relation] cause [Effect] further insulate it from the impact of a carbon tax",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Its efforts have largely paid off as a host of operational efficiency improvement projects have reduced dividend break-even levels to $40/barrel Brent, according to our estimates.",
    "output": "[Cause] a host of operational efficiency improvement projects have reduced dividend break-even levels to $40/barrel Brent [Relation] cause [Effect] Its efforts have largely paid off",
    "gold": "[Cause] a host of operational efficiency improvement projects have reduced dividend break-even levels to $40/barrel Brent [Relation] enable [Effect] Its efforts have largely paid off",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm also can use the data to learn more about fans of various artists, help them attract and invite fans to their live events, sell artists' labeled merchandise, and more.",
    "output": "[Cause] The firm also can use the data to learn more about fans of various artists [Relation] enable [Effect] attract and invite fans to their live events, sell artists' labeled merchandise, and more",
    "gold": "[Cause] The firm also can use the data to learn more about fans of various artists [Relation] enable [Effect]  attract and invite fans to their live events, sell artists' labeled merchandise, and more",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the research and development solutions segment, we expect IQVIA to push fixed-price contracting where it has more visibility into costs, allowing it to retain a higher margin.",
    "output": "[Cause] more visibility into costs [Relation] enable [Effect] retain a higher margin",
    "gold": "[Cause] QVIA to push fixed-price contracting [Relation] cause [Effect] more visibility into costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe American Express will be able to generate returns above its cost of capital equity as a result of fee income generated by its global merchant and network services business and its entrenched position in global commercial services.",
    "output": "[Cause] fee income generated by its global merchant and network services business and its entrenched position in global commercial services [Relation] cause [Effect] American Express will be able to generate returns above its cost of capital equity",
    "gold": "[Cause] fee income generated by its global merchant and network services business and its entrenched position in global commercial services [Relation] cause [Effect]  American Express will be able to generate returns above its cost of capital equity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Salesforce.com's critical differentiator was that the software was accessed through a web browser and delivered over the Internet, thus inventing the SaaS software delivery model.",
    "output": "[Cause] the software was accessed through a web browser and delivered over the Internet [Relation] cause [Effect] inventing the SaaS software delivery model",
    "gold": "[Cause] the software was accessed through a web browser and delivered over the Internet [Relation] cause [Effect] inventing the SaaS software delivery model",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Salesforce.com's critical differentiator was that the software was accessed through a web browser and delivered over the Internet, thus inventing the SaaS software delivery model.",
    "output": "[Cause] the software was accessed through a web browser and delivered over the Internet [Relation] cause [Effect] inventing the SaaS software delivery model",
    "gold": "[Cause] inventing the SaaS software delivery model [Relation] enable [Effect] Salesforce.com's critical differentiator",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The apartment manager can drive higher rent growth on existing tenants once an apartment building reaches a fully stabilized occupancy level as they know that the marginal tenant who would move out from higher rent increases can be replaced by the excess demand for the units.",
    "output": "[Cause] they know that the marginal tenant who would move out from higher rent increases can be replaced by the excess demand for the units [Relation] cause [Effect] The apartment manager can drive higher rent growth on existing tenants once an apartment building reaches a fully stabilized occupancy level",
    "gold": "[Cause] higher rent growth on existing tenants [Relation] cause [Effect] an apartment building reaches a fully stabilized occupancy level",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Some governments have shown a preference for local payment networks, which could freeze Mastercard out of certain markets and impede the value it drives from its global network.",
    "output": "[Cause] Some governments have shown a preference for local payment networks [Relation] cause [Effect] freeze Mastercard out of certain markets and impede the value it drives from its global network",
    "gold": "[Cause] Some governments have shown a preference for local payment networks [Relation] cause [Effect] freeze Mastercard out of certain markets and impede the value it drives from its global network",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Trane's large installed base generates a stable stream of higher-margin parts and service revenue (over 30% of sales), and we think the company has opportunities to expand its service mix, which should promote improved profitability and help damp the firm's cyclicality.",
    "output": "[Cause] Trane's large installed base [Relation] enable [Effect] a stable stream of higher-margin parts and service revenue",
    "gold": "[Cause] Trane's large installed base [Relation] enable [Effect] a stable stream of higher-margin parts and service revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It typically does not hedge this exposure, which could add volatility to the top line, but since there are expenses in foreign currencies there is a bit of a natural hedge.",
    "output": "[Cause] there are expenses in foreign currencies [Relation] cause [Effect] a bit of a natural hedge",
    "gold": "[Cause] hedge this exposure [Relation] cause [Effect] add volatility to the top line",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Sales are recovering from the pandemic much faster than we anticipated, causing us to revise fiscal 2021 organic sales from a 26% drop to 2.5% growth.",
    "output": "[Cause] Sales are recovering from the pandemic much faster than we anticipated [Relation] cause [Effect] revise fiscal 2021 organic sales from a 26% drop to 2.5% growth",
    "gold": "[Cause] Sales are recovering from the pandemic much faster than we anticipated [Relation] enable [Effect] revise fiscal 2021 organic sales from a 26% drop to 2.5% growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "S&L performance is expected to decline in 2021 as the temporary boost from 2020 storage differentials will disappear, but Plains has taken steps to ensure its capital position and balance sheet are protected.",
    "output": "[Cause] the temporary boost from 2020 storage differentials will disappear [Relation] cause [Effect] S&L performance is expected to decline in 2021",
    "gold": "[Cause]  the temporary boost from 2020 storage differentials will disappear [Relation] cause [Effect] S&L performance is expected to decline in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "S&L performance is expected to decline in 2021 as the temporary boost from 2020 storage differentials will disappear, but Plains has taken steps to ensure its capital position and balance sheet are protected.",
    "output": "[Cause] Plains has taken steps [Relation] enable [Effect] ensure its capital position and balance sheet are protected",
    "gold": "[Cause]  the temporary boost from 2020 storage differentials will disappear [Relation] cause [Effect]  Plains has taken steps to ensure its capital position and balance sheet are protected",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While compensation remains the single-largest expense for most asset managers, supplier power has been manageable as many firms have reduced their reliance on star managers and have tied manager and analyst pay to both portfolio and overall firm performance.",
    "output": "[Cause] many firms have reduced their reliance on star managers and have tied manager and analyst pay to both portfolio and overall firm performance [Relation] cause [Effect] supplier power has been manageable",
    "gold": "[Cause] many firms have reduced their reliance on star managers and have tied manager and analyst pay to both portfolio and overall firm performance [Relation] cause [Effect] supplier power has been manageable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It would be difficult for outsiders to directly compete for new licensing contracts, as Mattel and Hasbro have more advertising dollars to offer.",
    "output": "[Cause] Mattel and Hasbro have more advertising dollars to offer [Relation] cause [Effect] It would be difficult for outsiders to directly compete for new licensing contracts",
    "gold": "[Cause]  Mattel and Hasbro have more advertising dollars to offer [Relation] cause [Effect] It would be difficult for outsiders to directly compete for new licensing contracts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Higher ROI drove higher client spending and attracted more publishers, providing Criteo with more access to inventory, which allowed the company to deliver more ads.",
    "output": "[Cause] Higher ROI [Relation] enable [Effect] higher client spending and attracted more publishers",
    "gold": "[Cause] Higher ROI [Relation] enable [Effect]  higher client spending and attracted more publishers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Higher ROI drove higher client spending and attracted more publishers, providing Criteo with more access to inventory, which allowed the company to deliver more ads.",
    "output": "[Cause] providing Criteo with more access to inventory [Relation] enable [Effect] the company to deliver more ads",
    "gold": "[Cause]  higher client spending and attracted more publishers [Relation] cause [Effect] providing Criteo with more access to inventory",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm continues to analyze such data in order to minimize chances of crashes by addressing or preventing unsafe driving.",
    "output": "[Cause] The firm continues to analyze such data [Relation] enable [Effect] minimize chances of crashes",
    "gold": "[Cause] The firm continues to analyze such data [Relation] cause [Effect] minimize chances of crashes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm continues to analyze such data in order to minimize chances of crashes by addressing or preventing unsafe driving.",
    "output": "[Cause] addressing or preventing unsafe driving [Relation] enable [Effect] minimize chances of crashes",
    "gold": "[Cause] addressing or preventing unsafe driving [Relation] enable [Effect] minimize chances of crashes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have increased our fair value estimate to $24.00 per share from $20.50 as a result of stronger-than-expected tailwinds from a coronavirus-related shift to online shopping near term and time value of money effect.",
    "output": "[Cause] stronger-than-expected tailwinds from a coronavirus-related shift to online shopping near term and time value of money effect [Relation] cause [Effect] We have increased our fair value estimate to $24.00 per share from $20.50",
    "gold": "[Cause] stronger-than-expected tailwinds from a coronavirus-related shift to online shopping near term and time value of money effect [Relation] cause [Effect] We have increased our fair value estimate to $24.00 per share from $20.50",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The international take rate will increase as bargaining power against international hotels increases, which will in turn occur as Trip.com's international hotel business increases in volume.",
    "output": "[Cause] bargaining power against international hotels increases [Relation] cause [Effect] The international take rate will increase",
    "gold": "[Cause]  bargaining power against international hotels increases [Relation] cause [Effect] The international take rate will increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The international take rate will increase as bargaining power against international hotels increases, which will in turn occur as Trip.com's international hotel business increases in volume.",
    "output": "[Cause] Trip.com's international hotel business increases in volume [Relation] cause [Effect] The international take rate will increase",
    "gold": "[Cause]  Trip.com's international hotel business increases in volume [Relation] cause [Effect] The international take rate will increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The threat of losing business due to teething problems after switching banks often outweighs anticipated gains from converting.",
    "output": "[Cause] teething problems after switching banks [Relation] cause [Effect] The threat of losing business",
    "gold": "[Cause] teething problems after switching banks [Relation] cause [Effect] The threat of losing business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Western's gross margins to fluctuate with the cycles of its markets, but think the firm can raise its midcycle gross margin in the HDD market as it achieves cost efficiencies on higher capacity drives and these drives make up more and more of the overall HDD business.",
    "output": "[Cause] it achieves cost efficiencies on higher capacity drives and these drives make up more and more of the overall HDD business [Relation] cause [Effect] the firm can raise its midcycle gross margin in the HDD market",
    "gold": "[Cause]  it achieves cost efficiencies on higher capacity drives and these drives make up more and more of the overall HDD business [Relation] cause [Effect]  the firm can raise its midcycle gross margin in the HDD market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the initial COVID-19-driven downturn in the past, 2021 should be a year of some recovery in profitability, largely due to lower projected provisioning.",
    "output": "[Cause] lower projected provisioning [Relation] cause [Effect] 2021 should be a year of some recovery in profitability",
    "gold": "[Cause]  COVID-19 [Relation] enable [Effect] driven downturn",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Samsung was Maxim's main customer in this segment, and Samsung's rise in the smartphone space aided Maxim's consumer growth in good times, but also led to revenue headwinds at times when the tech titan's smartphone market share stalled.",
    "output": "[Cause] Samsung's rise in the smartphone space [Relation] enable [Effect] Maxim's consumer growth in good times",
    "gold": "[Cause] Samsung's rise in the smartphone space [Relation] enable [Effect]  Maxim's consumer growth in good times",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Samsung was Maxim's main customer in this segment, and Samsung's rise in the smartphone space aided Maxim's consumer growth in good times, but also led to revenue headwinds at times when the tech titan's smartphone market share stalled.",
    "output": "[Cause] Samsung's rise in the smartphone space [Relation] enable [Effect] Maxim's consumer growth in good times",
    "gold": "[Cause]  the tech titan's smartphone market share stalled [Relation] cause [Effect]  revenue headwinds",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We see lower risk from smaller players, given the security clearance and volume requirements needed to supply to government agencies.",
    "output": "[Cause] the security clearance and volume requirements needed to supply to government agencies [Relation] cause [Effect] We see lower risk from smaller players",
    "gold": "[Cause] the security clearance and volume requirements needed to supply to government agencies [Relation] cause [Effect] We see lower risk from smaller players",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that these high-end enclaves typically extract higher margins and are more conducive to economic profits, the firm's presence here is not sufficiently meaningful from our vantage point.",
    "output": "[Cause] these high-end enclaves typically extract higher margins [Relation] cause [Effect] economic profits",
    "gold": "[Cause] these high-end enclaves typically extract higher margins [Relation] cause [Effect] economic profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that these high-end enclaves typically extract higher margins and are more conducive to economic profits, the firm's presence here is not sufficiently meaningful from our vantage point.",
    "output": "[Cause] these high-end enclaves typically extract higher margins and are more conducive to economic profits [Relation] cause [Effect] the firm's presence here is not sufficiently meaningful from our vantage point",
    "gold": "[Cause] high-end enclaves [Relation] cause [Effect] higher margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Capri faces an extraordinary challenge in rebuilding the business from this crisis, especially as it has been working to restructure Michael Kors and stabilize its two luxury brands.",
    "output": "[Cause] it has been working to restructure Michael Kors and stabilize its two luxury brands [Relation] cause [Effect] Capri faces an extraordinary challenge in rebuilding the business from this crisis",
    "gold": "[Cause]  it has been working to restructure Michael Kors and stabilize its two luxury brands [Relation] cause [Effect] Capri faces an extraordinary challenge in rebuilding the business from this crisis",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This level of brand-development expenditure creates a virtuous cycle for the larger players because higher spending on marketing, line extensions, and continuous investment in innovation can drive volume and category growth, assuming execution is effective.",
    "output": "[Cause] higher spending on marketing, line extensions, and continuous investment in innovation [Relation] cause [Effect] This level of brand-development expenditure creates a virtuous cycle for the larger players",
    "gold": "[Cause] This level of brand-development expenditure [Relation] cause [Effect] a virtuous cycle for the larger players",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This level of brand-development expenditure creates a virtuous cycle for the larger players because higher spending on marketing, line extensions, and continuous investment in innovation can drive volume and category growth, assuming execution is effective.",
    "output": "[Cause] execution is effective [Relation] cause [Effect] This level of brand-development expenditure creates a virtuous cycle for the larger players",
    "gold": "[Cause] execution is effective [Relation] cause [Effect] higher spending on marketing, line extensions, and continuous investment in innovation can drive volume and category growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, the agreements are generally not take or pay, and just pipeline and plant dedications for a set fee, reducing commodity price risk, but not eliminating volume risk.",
    "output": "[Cause] the agreements are generally not take or pay, and just pipeline and plant dedications for a set fee [Relation] cause [Effect] reducing commodity price risk",
    "gold": "[Cause] the agreements are generally not take or pay, and just pipeline and plant dedications for a set fee [Relation] cause [Effect] reducing commodity price risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, the agreements are generally not take or pay, and just pipeline and plant dedications for a set fee, reducing commodity price risk, but not eliminating volume risk.",
    "output": "[Cause] pipeline and plant dedications for a set fee [Relation] cause [Effect] reducing commodity price risk",
    "gold": "[Cause] the agreements are generally not take or pay, and just pipeline and plant dedications for a set fee [Relation] prevent [Effect] eliminating volume risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With 2021-22 could be plagued by the redemption of future cruise credits as Carnival and the other cruise operators begin to sail again, we don't see Carnival reaching 2019 pricing again until 2024.",
    "output": "[Cause] Carnival and the other cruise operators begin to sail again [Relation] cause [Effect] 2021-22 could be plagued by the redemption of future cruise credits",
    "gold": "[Cause]  Carnival and the other cruise operators begin to sail again [Relation] cause [Effect] we don't see Carnival reaching 2019 pricing again until 2024",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect net interest income to decline in 2020 and 2021 as the Fed cutting rates to zero will reduce reinvestment yields.",
    "output": "[Cause] the Fed cutting rates to zero will reduce reinvestment yields [Relation] cause [Effect] net interest income to decline in 2020 and 2021",
    "gold": "[Cause] the Fed cutting rates to zero will reduce reinvestment yields [Relation] cause [Effect] net interest income to decline in 2020 and 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the project can be profitable, it carries risk as the previous owner, Nemaska, filed for bankruptcy due to cost overruns.",
    "output": "[Cause] the previous owner, Nemaska, filed for bankruptcy due to cost overruns [Relation] cause [Effect] While the project can be profitable, it carries risk",
    "gold": "[Cause] cost overruns [Relation] cause [Effect]  the previous owner, Nemaska, filed for bankruptcy",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Following the firm's release of first-quarter 2021 financial results and updated 2021 outlook, we are maintaining our fair value estimate of $65 as a higher revenue forecast is offset by the prospect of a higher corporate tax rate.",
    "output": "[Cause] a higher revenue forecast is offset by the prospect of a higher corporate tax rate [Relation] cause [Effect] we are maintaining our fair value estimate of $65",
    "gold": "[Cause] a higher revenue forecast is offset by the prospect of a higher corporate tax rate [Relation] cause [Effect] we are maintaining our fair value estimate of $65",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By these measures, AllianceBernstein, in our view, has had an average switching cost profile when compared with the industry and our peer coverage group, mainly because it has struggled to take full advantage of its below (above)-average redemption (retention) rate for its long-term funds.",
    "output": "[Cause] it has struggled to take full advantage of its below (above)-average redemption (retention) rate for its long-term funds [Relation] cause [Effect] AllianceBernstein, in our view, has had an average switching cost profile when compared with the industry and our peer coverage group",
    "gold": "[Cause] it has struggled to take full advantage of its below (above)-average redemption (retention) rate [Relation] enable [Effect] its long-term funds",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the near term, we see a favorable grain merchandising environment for ADM, as its North American footprint should benefit from high crop prices that incentivize farmer selling.",
    "output": "[Cause] its North American footprint should benefit from high crop prices that incentivize farmer selling [Relation] cause [Effect] a favorable grain merchandising environment for ADM",
    "gold": "[Cause] incentivize farmer selling [Relation] cause [Effect] high crop prices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the near term, we see a favorable grain merchandising environment for ADM, as its North American footprint should benefit from high crop prices that incentivize farmer selling.",
    "output": "[Cause] its North American footprint should benefit from high crop prices [Relation] cause [Effect] a favorable grain merchandising environment for ADM",
    "gold": "[Cause] high crop prices [Relation] cause [Effect] its North American footprint",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nasdaq has been able to use this broad recognition to license its indexes to investment providers for the creation of exchange-traded products based on its indexes.",
    "output": "[Cause] Nasdaq has been able to use this broad recognition [Relation] enable [Effect] license its indexes to investment providers for the creation of exchange-traded products based on its indexes",
    "gold": "[Cause] use this broad recognition to license its indexes to investment providers [Relation] enable [Effect]  the creation of exchange-traded products based on its indexes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast recreational volume to rise roughly 17% per year on average as distribution expands, consumers convert from the black market, and nonconsumers become consumers.",
    "output": "[Cause] distribution expands, consumers convert from the black market, and nonconsumers become consumers [Relation] cause [Effect] recreational volume to rise roughly 17% per year on average",
    "gold": "[Cause] distribution expands, consumers convert from the black market, and nonconsumers become consumers [Relation] enable [Effect] recreational volume to rise roughly 17% per year on average",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our fair value increase is due to increased expectations within our five-year capital investment outlook, and increasing our long-term growth assumptions as we believe the company has a long runway of growth opportunities.",
    "output": "[Cause] increased expectations within our five-year capital investment outlook [Relation] cause [Effect] Our fair value increase",
    "gold": "[Cause] increased expectations within our five-year capital investment outlook [Relation] cause [Effect] Our fair value increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our fair value increase is due to increased expectations within our five-year capital investment outlook, and increasing our long-term growth assumptions as we believe the company has a long runway of growth opportunities.",
    "output": "[Cause] the company has a long runway of growth opportunities [Relation] cause [Effect] increasing our long-term growth assumptions",
    "gold": "[Cause] the company has a long runway of growth opportunities [Relation] cause [Effect]  increasing our long-term growth assumptions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Meanwhile, the long-term outlook for gas demand remains favorable with most third-party forecasters calling for continued demand growth given emissions savings from substitution of coal in power generation, the need to supplement intermittent renewable power generation and expanding applications in shipping and road transport.",
    "output": "[Cause] emissions savings from substitution of coal in power generation, the need to supplement intermittent renewable power generation and expanding applications in shipping and road transport [Relation] cause [Effect] the long-term outlook for gas demand remains favorable with most third-party forecasters calling for continued demand growth",
    "gold": "[Cause] emissions savings from substitution of coal in power generation, the need to supplement intermittent renewable power generation and expanding applications in shipping and road transport [Relation] cause [Effect] the long-term outlook for gas demand remains favorable with most third-party forecasters calling for continued demand growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As patients lose their employer-based insurance, Tenet's hospital services may be reimbursed at significantly lower rates on average, which would negatively affect profitability, as well.",
    "output": "[Cause] patients lose their employer-based insurance [Relation] cause [Effect] Tenet's hospital services may be reimbursed at significantly lower rates on average",
    "gold": "[Cause] patients lose their employer-based insurance [Relation] enable [Effect] Tenet's hospital services may be reimbursed at significantly lower rates on average",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As patients lose their employer-based insurance, Tenet's hospital services may be reimbursed at significantly lower rates on average, which would negatively affect profitability, as well.",
    "output": "[Cause] Tenet's hospital services may be reimbursed at significantly lower rates on average [Relation] cause [Effect] negatively affect profitability",
    "gold": "[Cause] Tenet's hospital services may be reimbursed at significantly lower rates on average [Relation] enable [Effect] negatively affect profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customers value Fastenal's store-based and on-site approach because this business model offers a quick and convenient method for procuring fasteners and other MRO products, while also reducing shipping costs.",
    "output": "[Cause] this business model offers a quick and convenient method for procuring fasteners and other MRO products, while also reducing shipping costs [Relation] cause [Effect] Customers value Fastenal's store-based and on-site approach",
    "gold": "[Cause] this business model offers a quick and convenient method for procuring fasteners and other MRO products, while also reducing shipping costs [Relation] cause [Effect] Customers value Fastenal's store-based and on-site approach",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume advanced wound-care growth sees a less extreme recovery as those products are still primarily associated with patient acuity, trauma, and chronic conditions, such as diabetes.",
    "output": "[Cause] those products are still primarily associated with patient acuity, trauma, and chronic conditions, such as diabetes [Relation] cause [Effect] advanced wound-care growth sees a less extreme recovery",
    "gold": "[Cause] those products are still primarily associated with patient acuity, trauma, and chronic conditions, such as diabetes [Relation] cause [Effect] advanced wound-care growth sees a less extreme recovery",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We'd be remiss if we didn't mention craft distillation as a threat, which we believe manifests, in part, due to the more prominent social ethos around purchasing local goods that support local economies.",
    "output": "[Cause] the more prominent social ethos around purchasing local goods that support local economies [Relation] cause [Effect] We'd be remiss if we didn't mention craft distillation as a threat",
    "gold": "[Cause] purchasing local goods [Relation] enable [Effect] support local economies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Any weaknesses in the banking sector could lead banks to defer technology purchases, hurting Fiserv's top line, and any dramatic changes in the structure of the banking industry could have hard-to-predict consequences for Fiserv.",
    "output": "[Cause] any dramatic changes in the structure of the banking industry [Relation] cause [Effect] hard-to-predict consequences for Fiserv",
    "gold": "[Cause] any dramatic changes in the structure of the banking industry [Relation] cause [Effect] hard-to-predict consequences for Fiserv",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect EDU's profit to grow on the back of solid revenue growth, and improving margins thanks to additional revenue from an increase in student enrolments in existing schools and new schools, tuition fee hikes, better utilization and cost structure improvements at its new schools.",
    "output": "[Cause] additional revenue from an increase in student enrolments in existing schools and new schools, tuition fee hikes, better utilization and cost structure improvements at its new schools [Relation] enable [Effect] EDU's profit to grow on the back of solid revenue growth, and improving margins",
    "gold": "[Cause] additional revenue from an increase in student enrolments in existing schools and new schools, tuition fee hikes, better utilization and cost structure improvements at its new schools [Relation] cause [Effect] EDU's profit to grow on the back of solid revenue growth, and improving margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe net interest income will be under pressure in 2020 and 2021, due to the effects of rate cuts, and we project rates staying low for years before net interest margins begin to normalize again in the final years of our forecast.",
    "output": "[Cause] the effects of rate cuts [Relation] cause [Effect] We believe net interest income will be under pressure in 2020 and 2021",
    "gold": "[Cause] the effects of rate cuts [Relation] cause [Effect] We believe net interest income will be under pressure in 2020 and 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We generally view the pivot in Nasdaq's strategy toward more data and technology businesses favorably, but management is expecting fairly high revenue growth rates in businesses that are relatively new to the firm, so growth rates could disappoint.",
    "output": "[Cause] management is expecting fairly high revenue growth rates in businesses that are relatively new to the firm [Relation] cause [Effect] growth rates could disappoint",
    "gold": "[Cause] We generally view the pivot in Nasdaq's strategy toward more data and technology businesses favorably [Relation] enable [Effect]  management is expecting fairly high revenue growth rates in businesses that are relatively new to the firm, so growth rates could disappoint",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, increasing branded and biosimilar competition and a deteriorating pricing environment will likely lead to continued sales declines for Lantus over the long term.",
    "output": "[Cause] increasing branded and biosimilar competition and a deteriorating pricing environment [Relation] cause [Effect] continued sales declines for Lantus over the long term",
    "gold": "[Cause] increasing branded and biosimilar competition and a deteriorating pricing environment [Relation] cause [Effect] continued sales declines for Lantus over the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Microsoft's presence in the PC market with both its OS and Office productivity software allowed it to easily enter the server market just as the server market was undergoing a major transformation.",
    "output": "[Cause] Microsoft's presence in the PC market with both its OS and Office productivity software [Relation] enable [Effect] it to easily enter the server market just as the server market was undergoing a major transformation",
    "gold": "[Cause]  the server market was undergoing a major transformation [Relation] cause [Effect] Microsoft's presence in the PC market with both its OS and Office productivity software allowed it to easily enter the server market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For 2020, AEP forecasts a 2.7% reduction in full-year load with higher residential demand offset by lower C&I customer demand because of the economic impacts of COVID-19.",
    "output": "[Cause] the economic impacts of COVID-19 [Relation] cause [Effect] AEP forecasts a 2.7% reduction in full-year load with higher residential demand offset by lower C&I customer demand",
    "gold": "[Cause]  the economic impacts of COVID-19 [Relation] cause [Effect] AEP forecasts a 2.7% reduction in full-year load with higher residential demand offset by lower C&I customer demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With Monster's almost singular reliance on its namesake trademark, these risks are particularly stark, and we believe the firm has to work doubly hard to maintain the integrity of its brand.",
    "output": "[Cause] Monster's almost singular reliance on its namesake trademark [Relation] cause [Effect] these risks are particularly stark",
    "gold": "[Cause] Monster's almost singular reliance on its namesake trademark [Relation] enable [Effect]  the firm has to work doubly hard",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In many ways, the economics of a private-label manufacturing business is at the mercy of the promotional depth and cadence of branded CPG companies in any given year. This reality ultimately constrains Treehouse's ability to exercise any meaningful clout in influencing the behavior of end consumers, branded CPG businesses, or retailers.",
    "output": "[Cause] the economics of a private-label manufacturing business is at the mercy of the promotional depth and cadence of branded CPG companies in any given year [Relation] prevent [Effect] Treehouse's ability to exercise any meaningful clout in influencing the behavior of end consumers, branded CPG businesses, or retailers",
    "gold": "[Cause] the economics of a private-label manufacturing business is at the mercy of the promotional depth and cadence of branded CPG companies in any given year [Relation] prevent [Effect] Treehouse's ability to exercise any meaningful clout in influencing the behavior of end consumers, branded CPG businesses, or retailers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Following the 2018 trucking capacity crunch, 2019 was a hangover year for highway brokers as industrial end markets softened and spot rates retreated.",
    "output": "[Cause] industrial end markets softened and spot rates retreated [Relation] cause [Effect] 2019 was a hangover year for highway brokers",
    "gold": "[Cause] industrial end markets softened and spot rates retreated [Relation] cause [Effect] 2019 was a hangover year for highway brokers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Orange's main markets, France, Spain, and Poland are all facing the pressures from a fourth mobile network operator, which might destabilize the market and depress margins.",
    "output": "[Cause] Orange's main markets, France, Spain, and Poland are all facing the pressures from a fourth mobile network operator [Relation] cause [Effect] depress margins",
    "gold": "[Cause] Orange's main markets, France, Spain, and Poland are all facing the pressures from a fourth mobile network operator [Relation] cause [Effect] depress margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With data constantly being ingested and analyzed, Palantir's platforms can uncover new insight and notify appropriate individuals that may have not been privy to the new information, making the platforms more powerful as more users participate.",
    "output": "[Cause] data constantly being ingested and analyzed [Relation] cause [Effect] Palantir's platforms can uncover new insight and notify appropriate individuals that may have not been privy to the new information",
    "gold": "[Cause] more users participate [Relation] enable [Effect] the platforms more powerful",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With data constantly being ingested and analyzed, Palantir's platforms can uncover new insight and notify appropriate individuals that may have not been privy to the new information, making the platforms more powerful as more users participate.",
    "output": "[Cause] Palantir's platforms can uncover new insight and notify appropriate individuals that may have not been privy to the new information [Relation] enable [Effect] the platforms more powerful as more users participate",
    "gold": "[Cause] data constantly being ingested and analyzed [Relation] cause [Effect] Palantir's platforms can uncover new insight and notify appropriate individuals that may have not been privy to the new information",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our 10-year outlook assumes modest market share gains for Toll Brothers and 1% ASP growth through 2030 due to a mix shift to the firm's more affordable offerings, which partially offset price increases.",
    "output": "[Cause] a mix shift to the firm's more affordable offerings [Relation] cause [Effect] Our 10-year outlook assumes modest market share gains for Toll Brothers and 1% ASP growth through 2030",
    "gold": "[Cause] a mix shift to the firm's more affordable offerings [Relation] cause [Effect] Our 10-year outlook assumes modest market share gains for Toll Brothers and 1% ASP growth through 2030",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, as the mode is built into the standard game that gamers already paid for, EA benefits from the longer revenue-generation cycle and improved gross margins from these sport games.",
    "output": "[Cause] the mode is built into the standard game that gamers already paid for [Relation] cause [Effect] EA benefits from the longer revenue-generation cycle and improved gross margins from these sport games",
    "gold": "[Cause] the mode is built into the standard game that gamers already paid for [Relation] cause [Effect] EA benefits from the longer revenue-generation cycle and improved gross margins from these sport games",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Following the closing of its deal with LSE Group, Thomson Reuters has ownership of about 82.5 million shares of LSE Group and as such the valuation of these shares is a function of LSE Group's share price.",
    "output": "[Cause] Following the closing of its deal with LSE Group, Thomson Reuters has ownership of about 82.5 million shares of LSE Group [Relation] cause [Effect] the valuation of these shares is a function of LSE Group's share price",
    "gold": "[Cause]  LSE Group's share price [Relation] enable [Effect] the valuation of these shares",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, the simple interaction and exchange of ideas based on products and ideas among Pinners creates the word-of-mouth marketing, which is considered effective by advertisers. This gives Pinterest and its advertising clients a better idea about user interests or tastes, which creates what Pinterest refers to as the Taste Graph.",
    "output": "[Cause] the simple interaction and exchange of ideas based on products and ideas among Pinners creates the word-of-mouth marketing, which is considered effective by advertisers [Relation] enable [Effect] Pinterest and its advertising clients a better idea about user interests or tastes, which creates what Pinterest refers to as the Taste Graph",
    "gold": "[Cause]  the simple interaction and exchange of ideas based on products and ideas among Pinners creates the word-of-mouth marketing, which is considered effective by advertisers [Relation] enable [Effect] Pinterest and its advertising clients a better idea about user interests or tastes, which creates what Pinterest refers to as the Taste Graph",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Still, we believe that demand will be able to match these supply additions, as historically room expansion and visitation in the region have been correlated, as travelers are enticed to see new attractions (the Radiers new football stadium is set to host games in 2021).",
    "output": "[Cause] historically room expansion and visitation in the region have been correlated [Relation] cause [Effect] demand will be able to match these supply additions",
    "gold": "[Cause]  as historically room expansion and visitation in the region have been correlated [Relation] cause [Effect]  as travelers are enticed to see new attractions (the Radiers new football stadium is set to host games in 2021)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast a same-store sales decline of 19% for Ulta in 2020 due to the virus, but we expect a rebound to 21% comparable growth in 2021 and then average same-store sales growth of 5% in 2022-29.",
    "output": "[Cause] the virus [Relation] cause [Effect] a same-store sales decline of 19% for Ulta in 2020",
    "gold": "[Cause] the virus [Relation] cause [Effect] a same-store sales decline of 19% for Ulta in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Midstream firms typically seek to lock in project economics through long-term contracts with shippers before ever breaking ground on a new project, ensuring that at a minimum project and capital costs are recouped, with potential for excess returns over time.",
    "output": "[Cause] Midstream firms typically seek to lock in project economics through long-term contracts with shippers before ever breaking ground on a new project [Relation] enable [Effect] at a minimum project and capital costs are recouped, with potential for excess returns over time",
    "gold": "[Cause] Midstream firms typically seek to lock in project economics through long-term contracts with shippers before ever breaking ground on a new project [Relation] enable [Effect] at a minimum project and capital costs are recouped, with potential for excess returns over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Zeiss is a major supplier for ASML's lithography tools, and any disruption of this symbiotic relationship could be detrimental to ASML, though ASML acquired a minority stake in Zeiss to secure the extension of EUV imaging technology and strengthen the combined businesses.",
    "output": "[Cause] any disruption of this symbiotic relationship [Relation] cause [Effect] detrimental to ASML",
    "gold": "[Cause]  any disruption of this symbiotic relationship [Relation] cause [Effect]  detrimental to ASML",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Zeiss is a major supplier for ASML's lithography tools, and any disruption of this symbiotic relationship could be detrimental to ASML, though ASML acquired a minority stake in Zeiss to secure the extension of EUV imaging technology and strengthen the combined businesses.",
    "output": "[Cause] ASML acquired a minority stake in Zeiss [Relation] enable [Effect] secure the extension of EUV imaging technology and strengthen the combined businesses",
    "gold": "[Cause] ASML acquired a minority stake in Zeiss [Relation] enable [Effect] secure the extension of EUV imaging technology and strengthen the combined businesses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These deals may make sense if affiliate fees continue to rise and the place on the basic tier is assured.",
    "output": "[Cause] affiliate fees continue to rise and the place on the basic tier is assured [Relation] cause [Effect] These deals may make sense",
    "gold": "[Cause] affiliate fees continue to rise and the place on the basic tier is assured [Relation] cause [Effect] These deals may make sense",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, when selling into hospitals, medical technology players must be able to produce their products at a large enough scale to attract the interest of group purchasing organizations and their hospital clients.",
    "output": "[Cause] selling into hospitals [Relation] enable [Effect] medical technology players must be able to produce their products at a large enough scale to attract the interest of group purchasing organizations and their hospital clients",
    "gold": "[Cause] medical technology players must be able to produce their products at a large enough scale [Relation] enable [Effect] attract the interest of group purchasing organizations and their hospital clients",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This limits overall market size, could increase cyberattacks, and working with military operations could cause potential investors to avoid the name.",
    "output": "[Cause] working with military operations [Relation] cause [Effect] potential investors to avoid the name",
    "gold": "[Cause] working with military operations [Relation] cause [Effect]  potential investors to avoid the name",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Asset sales and depreciation exceeding capital expenditure see an incremental improvement in returns in future, but the benefit is relatively small compared with the scale of boomtime investment, and is insufficient to support excess returns based on our midcycle forecasts.",
    "output": "[Cause] Asset sales and depreciation exceeding capital expenditure [Relation] enable [Effect] an incremental improvement in returns in future",
    "gold": "[Cause] the benefit is relatively small compared with the scale of boomtime investment [Relation] prevent [Effect] support excess returns based on our midcycle forecasts",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Asset sales and depreciation exceeding capital expenditure see an incremental improvement in returns in future, but the benefit is relatively small compared with the scale of boomtime investment, and is insufficient to support excess returns based on our midcycle forecasts.",
    "output": "[Cause] Asset sales and depreciation exceeding capital expenditure [Relation] cause [Effect] an incremental improvement in returns in future",
    "gold": "[Cause] Asset sales and depreciation exceeding capital expenditure [Relation] enable [Effect] an incremental improvement in returns in future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's focus on ultraluxury, luxury, and premium segments, with an obsessive attention to details that impresses its target clientele, has enabled BMW to generate substantial excess returns over its weighted average cost of capital.",
    "output": "[Cause] The company's focus on ultraluxury, luxury, and premium segments, with an obsessive attention to details that impresses its target clientele [Relation] enable [Effect] BMW to generate substantial excess returns over its weighted average cost of capital",
    "gold": "[Cause] The company's focus on ultraluxury, luxury, and premium segments, with an obsessive attention to details that impresses its target clientele [Relation] enable [Effect] BMW to generate substantial excess returns over its weighted average cost of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Bouts of unfavorable weather could place upward pressure on input prices for products such as dairy, coffee beans, meat, wheat, soybean, nuts, and sugar.",
    "output": "[Cause] Bouts of unfavorable weather [Relation] cause [Effect] upward pressure on input prices for products such as dairy, coffee beans, meat, wheat, soybean, nuts, and sugar",
    "gold": "[Cause] [Relation] cause [Effect] Bouts of unfavorable weather  |  upward pressure on input prices for products such as dairy, coffee beans, meat, wheat, soybean, nuts, and sugar",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Without the legislative requirements to buy renewable power, demand for Ormat's production could slip and make its growth less certain.",
    "output": "[Cause] Without the legislative requirements to buy renewable power [Relation] cause [Effect] demand for Ormat's production could slip and make its growth less certain",
    "gold": "[Cause] Without the legislative requirements to buy renewable power [Relation] cause [Effect] demand for Ormat's production could slip and make its growth less certain",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project spending on leases will grow because we believe prices Cogent pays will be less favorable in the future, but we don't expect Cogent to expand its network to a great extent, so the higher spending we project is primarily related to renewals.",
    "output": "[Cause] we don't expect Cogent to expand its network to a great extent [Relation] cause [Effect] the higher spending we project is primarily related to renewals",
    "gold": "[Cause] we don't expect Cogent to expand its network to a great extent [Relation] cause [Effect] the higher spending we project is primarily related to renewals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the retail business, we expect mid-single-digit profit growth on average through 2030, as the company expands store count though small acquisitions and sells a greater proportion of proprietary and private-label products, which carry higher margins.",
    "output": "[Cause] the company expands store count though small acquisitions and sells a greater proportion of proprietary and private-label products [Relation] cause [Effect] mid-single-digit profit growth on average through 2030",
    "gold": "[Cause] sells a greater proportion of proprietary and private-label products [Relation] cause [Effect] carry higher margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "ING in its capacity as a client's primary banks has firsthand access to the cashflow information of the client, this allows ING to price better for risk and to have advance warning of clients that are experiencing cashflow difficulties.",
    "output": "[Cause] ING in its capacity as a client's primary banks has firsthand access to the cashflow information of the client [Relation] enable [Effect] ING to price better for risk and to have advance warning of clients that are experiencing cashflow difficulties",
    "gold": "[Cause] ING in its capacity as a client's primary banks has firsthand access to the cashflow information of the client [Relation] enable [Effect] ING to price better for risk and to have advance warning of clients that are experiencing cashflow difficulties",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, the auto industry is so cyclical that in bad times even the best automakers cannot avoid large declines in return on invested capital and profit",
    "output": "[Cause] the auto industry is so cyclical [Relation] cause [Effect] in bad times even the best automakers cannot avoid large declines in return on invested capital and profit",
    "gold": "[Cause] the auto industry is so cyclical [Relation] cause [Effect] in bad times even the best automakers cannot avoid large declines in return on invested capital and profit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Switching costs are not meaningful for end consumers, and we surmise that the magnitude of customer acquisition costs in the consumer product industry creates a barrier to entry, with the ability to fund those costs constituting a competitive advantage over new entrants with limited budgets.",
    "output": "[Cause] the magnitude of customer acquisition costs in the consumer product industry creates a barrier to entry [Relation] cause [Effect] the ability to fund those costs constituting a competitive advantage over new entrants with limited budgets",
    "gold": "[Cause]  the magnitude of customer acquisition costs in the consumer product industry creates a barrier to entry [Relation] enable [Effect] with the ability to fund those costs constituting a competitive advantage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Citigroup has one of the largest FICC trading platforms, with particular strength in foreign-exchange trading, where incremental returns from additional volume are maximal because the bank can spread the fixed costs of trading operations over an enormous base of transactions.",
    "output": "[Cause] the bank can spread the fixed costs of trading operations over an enormous base of transactions [Relation] cause [Effect] incremental returns from additional volume are maximal",
    "gold": "[Cause] Citigroup has one of the largest FICC trading platforms, with particular strength in foreign-exchange trading [Relation] enable [Effect]  incremental returns from additional volume are maximal because the bank can spread the fixed costs of trading operations over an enormous base of transactions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although it seemed a reasonable combination at the time with significant footprint overlap, the potential for considerable synergies turned into massive losses due to the subprime mortgage business and bad commercial loans.",
    "output": "[Cause] the potential for considerable synergies turned into massive losses [Relation] cause [Effect] the subprime mortgage business and bad commercial loans",
    "gold": "[Cause]  the subprime mortgage business and bad commercial loans [Relation] cause [Effect] the potential for considerable synergies turned into massive losses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, many of the firm's brands, such as Banquet, Marie Callender's, Duncan Hines, and Chef Boyardee, focus on convenience, not health, and therefore have limited capacity to evolve.",
    "output": "[Cause] many of the firm's brands, such as Banquet, Marie Callender's, Duncan Hines, and Chef Boyardee, focus on convenience, not health [Relation] cause [Effect] have limited capacity to evolve",
    "gold": "[Cause]  many of the firm's brands, such as Banquet, Marie Callender's, Duncan Hines, and Chef Boyardee, focus on convenience, not health [Relation] cause [Effect]  have limited capacity to evolve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We currently forecast operating margins in the segment at a high teens rate over the long term, as a rise in e-commerce mix pressures profitability, but this metric still marks a best-in-class mall retailer from a profitability perspective.",
    "output": "[Cause] a rise in e-commerce mix pressures profitability [Relation] cause [Effect] operating margins in the segment at a high teens rate over the long term",
    "gold": "[Cause] a rise in e-commerce mix pressures profitability [Relation] cause [Effect]  operating margins in the segment at a high teens rate over the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And we expect processing needs to continue accelerating as airlines push customized offerings, especially as Sabre's platform conforms to the industry's new distribution capability, which strives to make it easier to display carriers' customized content on global distribution systems, supporting Sabre's long-term competitive positioning.",
    "output": "[Cause] airlines push customized offerings [Relation] cause [Effect] processing needs to continue accelerating",
    "gold": "[Cause] airlines push customized offerings [Relation] cause [Effect]  processing needs to continue accelerating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The pandemic caused a roadbump in Unilever's path to a 20% EBIT margin in 2020, but we expect the firm to be a whisker away this year.",
    "output": "[Cause] The pandemic [Relation] cause [Effect] a roadbump in Unilever's path to a 20% EBIT margin in 2020",
    "gold": "[Cause] The pandemic [Relation] cause [Effect] a roadbump in Unilever's path to a 20% EBIT margin in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Laredo's legacy assets are primarily located in the eastern fringe of the Midland Basin, which puts it at a relative disadvantage.",
    "output": "[Cause] Laredo's legacy assets are primarily located in the eastern fringe of the Midland Basin [Relation] cause [Effect] puts it at a relative disadvantage",
    "gold": "[Cause] Laredo's legacy assets are primarily located in the eastern fringe of the Midland Basin [Relation] enable [Effect]  puts it at a relative disadvantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the price of Novo's oral GLP-1 Rybelsus is similar to injectable GLP-1 therapies on a list basis, we think net pricing is likely to move lower, as significant pricing pressure and competition has kept pricing for other oral therapies at around $2,000 per year.",
    "output": "[Cause] significant pricing pressure and competition has kept pricing for other oral therapies at around $2,000 per year [Relation] cause [Effect] While the price of Novo's oral GLP-1 Rybelsus is similar to injectable GLP-1 therapies on a list basis, we think net pricing is likely to move lower",
    "gold": "[Cause] significant pricing pressure and competition has kept pricing for other oral therapies at around $2,000 per year [Relation] cause [Effect] While the price of Novo's oral GLP-1 Rybelsus is similar to injectable GLP-1 therapies on a list basis, we think net pricing is likely to move lower",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume that the company's higher capital expenditures from 2013 through 2017 will provide the property plant and equipment necessary for most manufacturing over the next five years.",
    "output": "[Cause] the company's higher capital expenditures from 2013 through 2017 [Relation] enable [Effect] provide the property plant and equipment necessary for most manufacturing over the next five years",
    "gold": "[Cause]  provide the property plant and equipment necessary for most manufacturing over the next five years [Relation] cause [Effect] that the company's higher capital expenditures from 2013 through 2017",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Operating margins, excluding purchase amortization expenses and one-time charges, have been lower than on the brokerage side historically, suggesting this side of the business is not as advantaged as brokerage operations but still benefits from relatively sticky customer relationships.",
    "output": "[Cause] Operating margins, excluding purchase amortization expenses and one-time charges, have been lower than on the brokerage side historically [Relation] cause [Effect] this side of the business is not as advantaged as brokerage operations but still benefits from relatively sticky customer relationships",
    "gold": "[Cause] Operating margins, excluding purchase amortization expenses and one-time charges, have been lower than on the brokerage side historically [Relation] cause [Effect] this side of the business is not as advantaged as brokerage operations but still benefits from relatively sticky customer relationships",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the SMB customer base and the fact that the firm directly benefits from e-commerce sales on its platform, we believe Shopify is more susceptible to a recession than more enterprise-focused peers in two ways.",
    "output": "[Cause] the SMB customer base and the fact that the firm directly benefits from e-commerce sales on its platform [Relation] cause [Effect] Shopify is more susceptible to a recession than more enterprise-focused peers in two ways",
    "gold": "[Cause]  the SMB customer base and the fact that the firm directly benefits from e-commerce sales on its platform [Relation] cause [Effect] Shopify is more susceptible to a recession than more enterprise-focused peers in two ways",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With brand integrity harder to maintain in these markets, and the costs associated with doing so, we have less confidence in the durability of excess returns.",
    "output": "[Cause] brand integrity harder to maintain in these markets, and the costs associated with doing so [Relation] cause [Effect] less confidence in the durability of excess returns",
    "gold": "[Cause] brand integrity harder to maintain in these markets, and the costs associated with doing so [Relation] cause [Effect]  less confidence in the durability of excess returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also project that artists will remain dependent on tours and associated revenue streams to replace the lost revenue from the decline in digital downloads and the shift toward streaming music.",
    "output": "[Cause] artists will remain dependent on tours and associated revenue streams [Relation] enable [Effect] replace the lost revenue from the decline in digital downloads and the shift toward streaming music",
    "gold": "[Cause]  artists will remain dependent on tours and associated revenue streams [Relation] enable [Effect]  replace the lost revenue from the decline in digital downloads and the shift toward streaming music",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "An expected rise in interest rates could hamper industry revenue growth, but we don't see this as a near-term risk.",
    "output": "[Cause] An expected rise in interest rates [Relation] prevent [Effect] industry revenue growth",
    "gold": "[Cause] An expected rise in interest rates [Relation] prevent [Effect] industry revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Mosaic to see lower potash production in 2021 and 2022 as the company transitions its Esterhazy potash operation fully to the K3 mine from K1 and K2.",
    "output": "[Cause] the company transitions its Esterhazy potash operation fully to the K3 mine from K1 and K2 [Relation] cause [Effect] Mosaic to see lower potash production in 2021 and 2022",
    "gold": "[Cause] the company transitions its Esterhazy potash operation fully to the K3 mine from K1 and K2 [Relation] cause [Effect] Mosaic to see lower potash production in 2021 and 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "When Anheuser-Busch InBev, already the largest global brewer, acquired the second-largest player SABMiller in October 2016, it irreversibly beat Heineken to the industry cost leadership position.",
    "output": "[Cause] acquired the second-largest player SABMiller in October 2016 [Relation] enable [Effect] Anheuser-Busch InBev, already the largest global brewer",
    "gold": "[Cause] acquired the second-largest player SABMiller in October 2016 [Relation] enable [Effect] Anheuser-Busch InBev, already the largest global brewer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In Asia, where Ralph Lauren trails some competitors, we expect 9% compound average annual sales growth over the next decade as stores open and e-commerce expands in mainland China.",
    "output": "[Cause] stores open and e-commerce expands in mainland China [Relation] cause [Effect] 9% compound average annual sales growth over the next decade",
    "gold": "[Cause] stores open and e-commerce expands in mainland China [Relation] cause [Effect] 9% compound average annual sales growth over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If efficacy is similar, a multicancer test would be preferable to single cancer, particularly since both types of tests will likely be similarly priced.",
    "output": "[Cause] both types of tests will likely be similarly priced [Relation] cause [Effect] If efficacy is similar, a multicancer test would be preferable to single cancer",
    "gold": "[Cause] both types of tests will likely be similarly priced [Relation] cause [Effect] If efficacy is similar, a multicancer test would be preferable to single cancer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Both firms are able to earn economic profits when demand is strong and supply is tight, but any glut of supply can cause prices to sink, bringing economic profits with them.",
    "output": "[Cause] demand is strong and supply is tight [Relation] enable [Effect] Both firms are able to earn economic profits",
    "gold": "[Cause]  demand is strong and supply is tight [Relation] enable [Effect] Both firms are able to earn economic profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Crown acknowledges that for small cells to be attractive, they need multiple tenants co-locating on fiber runs, so with more competition and less customer opportunity, we think earning excess returns on fiber will be difficult.",
    "output": "[Cause] more competition and less customer opportunity [Relation] cause [Effect] earning excess returns on fiber will be difficult",
    "gold": "[Cause] more competition and less customer opportunity [Relation] cause [Effect] earning excess returns on fiber will be difficult",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite some recent regulatory challenges, we expect Televisa to maintain its dominant position in Mexico due to its huge content production advantage and control of distribution networks.",
    "output": "[Cause] its huge content production advantage and control of distribution networks [Relation] cause [Effect] Televisa to maintain its dominant position in Mexico",
    "gold": "[Cause] its huge content production advantage and control of distribution networks [Relation] enable [Effect] Televisa to maintain its dominant position in Mexico",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our long-term growth assumption for airfreight industry demand falls below the historical high-single-digit rate, which enjoyed a boost from the expansion of foreign production sourcing (west to east) in decades past.",
    "output": "[Cause] the expansion of foreign production sourcing (west to east) in decades past [Relation] cause [Effect] Our long-term growth assumption for airfreight industry demand falls below the historical high-single-digit rate",
    "gold": "[Cause] the expansion of foreign production sourcing (west to east) in decades past [Relation] enable [Effect] a boost",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, the time it would take to retrain an engineering team on an alternative software would be lengthy--we imagine at least six months for basic proficiency--which leaves clients' products in development more susceptible to failures.",
    "output": "[Cause] the time it would take to retrain an engineering team on an alternative software would be lengthy [Relation] cause [Effect] leaves clients' products in development more susceptible to failures",
    "gold": "[Cause] at least six months for basic proficiency [Relation] cause [Effect] leaves clients' products in development more susceptible to failures",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If cannabis is legalized on a federal level, Hawthorne may also face increased competition from traditional agricultural input producers and retailers that may begin serving larger cannabis growers.",
    "output": "[Cause] cannabis is legalized on a federal level [Relation] cause [Effect] Hawthorne may also face increased competition from traditional agricultural input producers and retailers that may begin serving larger cannabis growers",
    "gold": "[Cause] cannabis is legalized on a federal level [Relation] cause [Effect] Hawthorne may also face increased competition from traditional agricultural input producers and retailers that may begin serving larger cannabis growers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the Northeast, we forecast most of the growth coming from price inflation, offsetting a marketwide negative volume growth in the region due to stagnant population growth and sales cannibalisation by the online channel among others.",
    "output": "[Cause] stagnant population growth and sales cannibalisation by the online channel among others [Relation] cause [Effect] most of the growth coming from price inflation, offsetting a marketwide negative volume growth in the region",
    "gold": "[Cause] stagnant population growth and sales cannibalisation by the online channel among others [Relation] cause [Effect] most of the growth coming from price inflation, offsetting a marketwide negative volume growth in the region",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that structural barriers to entry in the aircraft manufacturing market and the substantial expense and difficulty required for customers to switch suppliers provide incumbents with intangible assets and switching costs that solidify their place at the top of the commercial aerospace value chain.",
    "output": "[Cause] structural barriers to entry in the aircraft manufacturing market and the substantial expense and difficulty required for customers to switch suppliers [Relation] cause [Effect] incumbents with intangible assets and switching costs",
    "gold": "[Cause] structural barriers to entry in the aircraft manufacturing market and the substantial expense and difficulty required for customers to switch suppliers [Relation] cause [Effect] incumbents with intangible assets and switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that structural barriers to entry in the aircraft manufacturing market and the substantial expense and difficulty required for customers to switch suppliers provide incumbents with intangible assets and switching costs that solidify their place at the top of the commercial aerospace value chain.",
    "output": "[Cause] incumbents with intangible assets and switching costs [Relation] enable [Effect] solidify their place at the top of the commercial aerospace value chain",
    "gold": "[Cause] incumbents with intangible assets and switching costs [Relation] enable [Effect]  solidify their place at the top of the commercial aerospace value chain",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Tax benefits have boosted returns following the consolidation of its former master limited partnerships, Kinder Morgan Energy Partners and El Paso Energy Partners.",
    "output": "[Cause] the consolidation of its former master limited partnerships, Kinder Morgan Energy Partners and El Paso Energy Partners [Relation] cause [Effect] Tax benefits have boosted returns",
    "gold": "[Cause] the consolidation of its former master limited partnerships, Kinder Morgan Energy Partners and El Paso Energy Partners [Relation] cause [Effect] Tax benefits have boosted returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We generally expect Vodafone will generate very modest growth given the maturity of most of the markets it serves.",
    "output": "[Cause] the maturity of most of the markets it serves [Relation] cause [Effect] Vodafone will generate very modest growth",
    "gold": "[Cause]  the maturity of most of the markets it serves [Relation] cause [Effect] Vodafone will generate very modest growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Food safety concerns also linger, with a footprint of nearly 40,000 stores and operations in 119 countries resulting in a patchwork coterie of suppliers, rendering monitoring difficult.",
    "output": "[Cause] a footprint of nearly 40,000 stores and operations in 119 countries [Relation] cause [Effect] a patchwork coterie of suppliers, rendering monitoring difficult",
    "gold": "[Cause] a footprint of nearly 40,000 stores and operations in 119 countries [Relation] cause [Effect]  a patchwork coterie of suppliers, rendering monitoring difficult",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are optimistic that management can realize gross margin expansion over our forecast due to ongoing cost reductions and improved product mix.",
    "output": "[Cause] ongoing cost reductions and improved product mix [Relation] cause [Effect] management can realize gross margin expansion over our forecast",
    "gold": "[Cause] ongoing cost reductions and improved product mix [Relation] cause [Effect] management can realize gross margin expansion over our forecast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In recent years, RH has made operational and supply chain changes to improve its operating costs, including closing excess distribution center square footage and rightsizing the inventory base.",
    "output": "[Cause] RH has made operational and supply chain changes [Relation] enable [Effect] improve its operating costs",
    "gold": "[Cause] RH has made operational and supply chain changes [Relation] enable [Effect] improve its operating costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In recent years, RH has made operational and supply chain changes to improve its operating costs, including closing excess distribution center square footage and rightsizing the inventory base.",
    "output": "[Cause] RH has made operational and supply chain changes [Relation] enable [Effect] improve its operating costs",
    "gold": "[Cause] closing excess distribution center square footage and rightsizing the inventory base [Relation] enable [Effect] improve its operating costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Railroads occasionally build new spurs and restore abandoned lines, but we anticipate no new mainlines will be built, given massive entry barriers.",
    "output": "[Cause] massive entry barriers [Relation] cause [Effect] no new mainlines will be built",
    "gold": "[Cause] massive entry barriers [Relation] cause [Effect]  no new mainlines will be built",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, Ecolab uses a direct selling model with a salesforce that is segmented by specific customer industry and focuses on cross-selling products, which also contributes to switching costs.",
    "output": "[Cause] Ecolab uses a direct selling model with a salesforce that is segmented by specific customer industry and focuses on cross-selling products [Relation] cause [Effect] switching costs",
    "gold": "[Cause] Ecolab uses a direct selling model with a salesforce that is segmented by specific customer industry and focuses on cross-selling products [Relation] cause [Effect]  switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think operating margins will expand in line with gross margins but that operating expenses will remain elevated through 2025.",
    "output": "[Cause] operating margins will expand in line with gross margins [Relation] cause [Effect] operating expenses will remain elevated through 2025",
    "gold": "[Cause] operating expenses will remain elevated through 2025 [Relation] prevent [Effect] operating margins will expand in line with gross margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the addition of Fox Searchlight should help Disney garner more Oscar nominations, the film side of the firm is already running full bore, as Disney was the top-grossing studio in the U.S.",
    "output": "[Cause] Disney was the top-grossing studio in the U.S [Relation] cause [Effect] the film side of the firm is already running full bore",
    "gold": "[Cause] Disney was the top-grossing studio in the U.S [Relation] cause [Effect] the film side of the firm is already running full bore",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Travelers is a large player in these lines, we think its use of independent agents makes moot any material scale advantages.",
    "output": "[Cause] its use of independent agents [Relation] cause [Effect] moot any material scale advantages",
    "gold": "[Cause]  its use of independent agents makes moot any material scale advantages [Relation] cause [Effect] Travelers is a large player in these lines",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After updating our model for Plains' fourth-quarter results and rollng our model, we are reducing our fair value estimate to $13 per unit from $15 as we incorporate a lower-for-longer Permian recovery.",
    "output": "[Cause] we incorporate a lower-for-longer Permian recovery [Relation] cause [Effect] we are reducing our fair value estimate to $13 per unit from $15",
    "gold": "[Cause] we incorporate a lower-for-longer Permian recovery [Relation] cause [Effect] we are reducing our fair value estimate to $13 per unit from $15",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we expect Target to consider bolt-on acquisitions to bolster its omnichannel presence or its own-brand stable, we do not include such transactions in our forecast.",
    "output": "[Cause] Target to consider bolt-on acquisitions [Relation] enable [Effect] bolster its omnichannel presence or its own-brand stable",
    "gold": "[Cause] Target to consider bolt-on acquisitions [Relation] enable [Effect] bolster its omnichannel presence or its own-brand stable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Snap-on's software solutions provide customers the ability to organize and track tools at the work site. This helps repair departments prevent tools from being lost and can keep an online inventory of where tools are at any given moment.",
    "output": "[Cause] Snap-on's software solutions provide customers the ability to organize and track tools at the work site [Relation] enable [Effect] repair departments prevent tools from being lost and can keep an online inventory of where tools are at any given moment",
    "gold": "[Cause] Snap-on's software solutions provide customers the ability to organize and track tools at the work site [Relation] enable [Effect] repair departments prevent tools from being lost and can keep an online inventory of where tools are at any given moment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sandvik's strong market position across both its machining and mining segments allows the company to utilize its existing close relationships with customers to gain a greater share of wallet.",
    "output": "[Cause] Sandvik's strong market position across both its machining and mining segments [Relation] enable [Effect] the company to utilize its existing close relationships with customers to gain a greater share of wallet",
    "gold": "[Cause] Sandvik's strong market position across both its machining and mining segments [Relation] enable [Effect]  the company to utilize its existing close relationships with customers to gain a greater share of wallet",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In wireless, we think approval of the Rogers-Shaw merger would be good for BCE, but if regulators reject the deal, the biggest risk is that Shaw severely undercuts competitors on price and hurts profits for all the major Canadian carriers, including BCE.",
    "output": "[Cause] regulators reject the deal [Relation] cause [Effect] the biggest risk is that Shaw severely undercuts competitors on price",
    "gold": "[Cause] regulators reject the deal [Relation] cause [Effect] the biggest risk is that Shaw severely undercuts competitors on price",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In wireless, we think approval of the Rogers-Shaw merger would be good for BCE, but if regulators reject the deal, the biggest risk is that Shaw severely undercuts competitors on price and hurts profits for all the major Canadian carriers, including BCE.",
    "output": "[Cause] regulators reject the deal [Relation] cause [Effect] Shaw severely undercuts competitors on price and hurts profits for all the major Canadian carriers, including BCE",
    "gold": "[Cause] the biggest risk is that Shaw severely undercuts competitors on price [Relation] cause [Effect] hurts profits for all the major Canadian carriers, including BCE",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we believe SBA's international presence being concentrated in Brazil brings extra risk because of its reliance on one international sovereignty.",
    "output": "[Cause] its reliance on one international sovereignty [Relation] cause [Effect] SBA's international presence being concentrated in Brazil brings extra risk",
    "gold": "[Cause]  its reliance on one international sovereignty [Relation] cause [Effect] SBA's international presence being concentrated in Brazil brings extra risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Going forward, we expect Amphenol to maintain its diversified end market structure and expand its technological and geographic breadth through mergers and acquisitions, which have funded about one third of historical top-line growth for the firm.",
    "output": "[Cause] mergers and acquisitions [Relation] enable [Effect] Amphenol to maintain its diversified end market structure and expand its technological and geographic breadth",
    "gold": "[Cause] Amphenol to maintain its diversified end market structure and expand its technological and geographic breadth [Relation] enable [Effect] funded about one third of historical top-line growth for the firm",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Going forward, we expect Amphenol to maintain its diversified end market structure and expand its technological and geographic breadth through mergers and acquisitions, which have funded about one third of historical top-line growth for the firm.",
    "output": "[Cause] Amphenol to maintain its diversified end market structure and expand its technological and geographic breadth [Relation] enable [Effect] funded about one third of historical top-line growth for the firm",
    "gold": "[Cause]  mergers and acquisitions [Relation] enable [Effect]  expand its technological and geographic breadth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the concept has room to grow (with square footage rising by a low- to mid-single-digit percentage long term), expanding in new markets while also increasing density.",
    "output": "[Cause] the concept has room to grow [Relation] enable [Effect] expanding in new markets while also increasing density",
    "gold": "[Cause] the concept has room to grow [Relation] enable [Effect] expanding in new markets while also increasing density",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because these boutique hotels are too small to effectively market, their dependency on the OTAs for marketing and distribution is greater and stickier.",
    "output": "[Cause] these boutique hotels are too small to effectively market [Relation] cause [Effect] their dependency on the OTAs for marketing and distribution is greater and stickier",
    "gold": "[Cause] these boutique hotels are too small to effectively market [Relation] cause [Effect] their dependency on the OTAs for marketing and distribution is greater and stickier",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Incremental expansion of existing operations to drive capital and operating cost efficiency is a focus, along with innovation and the application of new technology.",
    "output": "[Cause] Incremental expansion of existing operations [Relation] enable [Effect] drive capital and operating cost efficiency is a focus, along with innovation and the application of new technology",
    "gold": "[Cause] innovation and the application of new technology [Relation] enable [Effect] Incremental expansion of existing operations to drive capital and operating cost efficiency is a focus",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Meanwhile, the slowdown of Moore's law could also lead to chipmakers focusing only on new architectures in lieu of shrinking feature size, which could lessen the capital intensity for lithography tools.",
    "output": "[Cause] the slowdown of Moore's law [Relation] cause [Effect] chipmakers focusing only on new architectures in lieu of shrinking feature size",
    "gold": "[Cause] the slowdown of Moore's law [Relation] cause [Effect]  chipmakers focusing only on new architectures in lieu of shrinking feature size",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Combined the two projects added about 400 mboe/d of production capacity with high margins thanks to contractually set, liquids-based pricing.",
    "output": "[Cause] contractually set, liquids-based pricing [Relation] enable [Effect] added about 400 mboe/d of production capacity with high margins",
    "gold": "[Cause] added about 400 mboe/d of production capacity [Relation] cause [Effect]  high margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Several ESG-related risks include implementation of a carbon tax or other climate change policies that could result in higher costs or reduced demand.",
    "output": "[Cause] Several ESG-related risks include implementation of a carbon tax or other climate change policies [Relation] cause [Effect] higher costs or reduced demand",
    "gold": "[Cause] Several ESG-related risks include implementation of a carbon tax or other climate change policies [Relation] cause [Effect]  higher costs or reduced demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the event of a power loss, these emergency lighting solutions must be able to automatically override any control setting and establish the appropriate illumination level in the event of a power failure. This requires that the entire lighting system and related equipment be tested to comply with code, including switches, dimmer, sensors, and energy management and bypass equipment.",
    "output": "[Cause] In the event of a power loss, these emergency lighting solutions must be able to automatically override any control setting and establish the appropriate illumination level in the event of a power failure [Relation] cause [Effect] the entire lighting system and related equipment be tested to comply with code, including switches, dimmer, sensors, and energy management and bypass equipment",
    "gold": "[Cause]  the entire lighting system and related equipment be tested to comply with code, including switches, dimmer, sensors, and energy management and bypass equipment [Relation] enable [Effect] automatically override any control setting and establish the appropriate illumination level in the event of a power failure",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although CP's intermodal franchise growth has lagged that of CN at times over the past decade, we expect PSR-related service enhancements to drive incremental growth opportunities as economic conditions recover.",
    "output": "[Cause] economic conditions recover [Relation] enable [Effect] PSR-related service enhancements to drive incremental growth opportunities",
    "gold": "[Cause] economic conditions recover [Relation] enable [Effect] PSR-related service enhancements to drive incremental growth opportunities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, we forecast net charge-offs will normalize at roughly 0.6% of loans over the long run, although we expect heightened credit costs in the near term due to the effects of COVID-19.",
    "output": "[Cause] the effects of COVID-19 [Relation] cause [Effect] heightened credit costs in the near term",
    "gold": "[Cause] the effects of COVID-19 [Relation] cause [Effect] heightened credit costs in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As ADM continues to invest in the development of new products, we expect the nutrition business to grow from 17% of profits in 2019 to over 25% by 2025.",
    "output": "[Cause] ADM continues to invest in the development of new products [Relation] cause [Effect] the nutrition business to grow from 17% of profits in 2019 to over 25% by 2025",
    "gold": "[Cause] ADM continues to invest in the development of new products [Relation] enable [Effect] the nutrition business to grow from 17% of profits in 2019 to over 25% by 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Broadband is a potential growth avenue, but China Mobile's aggressive expansion in the fixed broadband market is causing prices to fall, and China Mobile is taking market share.",
    "output": "[Cause] China Mobile's aggressive expansion in the fixed broadband market [Relation] cause [Effect] prices to fall",
    "gold": "[Cause] China Mobile's aggressive expansion in the fixed broadband market [Relation] cause [Effect] prices to fall",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the company's headwinds, both short and long term, and leveraged balance sheet, we viewed a distribution cut as likely.",
    "output": "[Cause] the company's headwinds, both short and long term, and leveraged balance sheet [Relation] cause [Effect] a distribution cut as likely",
    "gold": "[Cause] the company's headwinds, both short and long term, and leveraged balance sheet [Relation] cause [Effect]  a distribution cut as likely",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Periods of excess demand can lead to overexpansion and a glut of oversupply, which in turn leads to steep pricing declines.",
    "output": "[Cause] a glut of oversupply [Relation] cause [Effect] steep pricing declines",
    "gold": "[Cause] a glut of oversupply [Relation] enable [Effect] steep pricing declines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we readily acknowledge that supply chain efficiencies are not automatic, the firm's attention on standardizing contracts, fixing service fees, funneling larger volumes of work to more efficient contractors, and taking advantage of vendor volume discounts have led to improving gross margins.",
    "output": "[Cause] the firm's attention on standardizing contracts, fixing service fees, funneling larger volumes of work to more efficient contractors, and taking advantage of vendor volume discounts [Relation] enable [Effect] improving gross margins",
    "gold": "[Cause]  we readily acknowledge that supply chain efficiencies are not automatic [Relation] enable [Effect] the firm's attention on standardizing contracts, fixing service fees, funneling larger volumes of work to more efficient contractors, and taking advantage of vendor volume discounts have led to improving gross margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We assign Moderna a very high uncertainty rating, given the potential for rapid changes in the competitive landscape and in the COVID-19 virus itself.",
    "output": "[Cause] the potential for rapid changes in the competitive landscape and in the COVID-19 virus itself [Relation] cause [Effect] We assign Moderna a very high uncertainty rating",
    "gold": "[Cause] the potential for rapid changes in the competitive landscape and in the COVID-19 virus itself [Relation] cause [Effect] We assign Moderna a very high uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With booking.com seeing 600 million monthly visitors versus around 40 million for Marriott, we expect the platform to remain a top destination for travelers to shop, compare, and book hotels across all hotel brands.",
    "output": "[Cause] booking.com seeing 600 million monthly visitors versus around 40 million for Marriott [Relation] enable [Effect] the platform to remain a top destination for travelers to shop, compare, and book hotels across all hotel brands",
    "gold": "[Cause]  booking.com seeing 600 million monthly visitors versus around 40 million for Marriott [Relation] enable [Effect]  the platform to remain a top destination for travelers to shop, compare, and book hotels across all hotel brands",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "When interest-rate hikes are coupled with a cyclical downturn, customers' default risks could increase, resulting in a potential increase in bad debts.",
    "output": "[Cause] customers' default risks could increase [Relation] cause [Effect] a potential increase in bad debts",
    "gold": "[Cause] customers' default risks could increase [Relation] cause [Effect]  a potential increase in bad debts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, in 2018, gaming license approval in 7 Jul 2021 05:00, UTCChina was suspended as a result of restructuring of government departments.",
    "output": "[Cause] restructuring of government departments [Relation] cause [Effect] UTCChina was suspended",
    "gold": "[Cause] gaming license approval [Relation] cause [Effect] UTCChina was suspended as a result of restructuring of government departments.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With expected production of about 825,000 ounces at extremely low production costs, the mine would meaningfully increase production below the company's average costs.",
    "output": "[Cause] expected production of about 825,000 ounces at extremely low production costs [Relation] cause [Effect] the mine would meaningfully increase production below the company's average costs",
    "gold": "[Cause] expected production of about 825,000 ounces at extremely low production costs [Relation] cause [Effect] the mine would meaningfully increase production below the company's average costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "DJO is one of the two leading players in the rapidly growing reverse shoulder space, which we think will help Colfax outpace overall market growth in the reconstructive market.",
    "output": "[Cause] DJO is one of the two leading players in the rapidly growing reverse shoulder space [Relation] enable [Effect] help Colfax outpace overall market growth in the reconstructive market",
    "gold": "[Cause] DJO is one of the two leading players in the rapidly growing reverse shoulder space [Relation] cause [Effect] help Colfax outpace overall market growth in the reconstructive market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For a decade, however, the firm fallen behind Intel as the latter has been able to leverage its scale and massive research and development budget to significantly enhance its lead over AMD technologically (while AMD has also had its own series of missteps).",
    "output": "[Cause] the latter has been able to leverage its scale and massive research and development budget to significantly enhance its lead over AMD technologically [Relation] cause [Effect] the firm fallen behind Intel",
    "gold": "[Cause] the latter has been able to leverage its scale and massive research and development budget to significantly enhance its lead over AMD technologically [Relation] cause [Effect] the firm fallen behind Intel",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because MSCI Analytics applications are embedded in their clients' workflows, there are switching costs, and we believe firms don't take the decision to switch providers lightly.",
    "output": "[Cause] MSCI Analytics applications are embedded in their clients' workflows [Relation] cause [Effect] there are switching costs",
    "gold": "[Cause]  MSCI Analytics applications are embedded in their clients' workflows, there are switching costs [Relation] enable [Effect] firms don't take the decision to switch providers lightly",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Following the $1 billion acquisition of Quest Nutrition (which added $345 million in sales to the firm's $523 million legacy sales base), we think growth opportunities should ensue as Quest expands into other categories (including the cookies, chips, pizza aisles) and distribution channels (across food, drug, mass).",
    "output": "[Cause] Quest expands into other categories (including the cookies, chips, pizza aisles) and distribution channels (across food, drug, mass) [Relation] cause [Effect] growth opportunities should ensue",
    "gold": "[Cause] Quest expands into other categories (including the cookies, chips, pizza aisles) and distribution channels (across food, drug, mass) [Relation] enable [Effect] growth opportunities should ensue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Demand should remain steady over time, as the toy industry is relatively mature, but moderate price increases and share gains in emerging markets could contribute to the top line as new products are introduced.",
    "output": "[Cause] the toy industry is relatively mature [Relation] cause [Effect] Demand should remain steady over time",
    "gold": "[Cause]  the toy industry is relatively mature [Relation] enable [Effect] Demand should remain steady over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Demand should remain steady over time, as the toy industry is relatively mature, but moderate price increases and share gains in emerging markets could contribute to the top line as new products are introduced.",
    "output": "[Cause] new products are introduced [Relation] cause [Effect] moderate price increases and share gains in emerging markets could contribute to the top line",
    "gold": "[Cause]  new products are introduced [Relation] cause [Effect] moderate price increases and share gains in emerging markets could contribute to the top line",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There are no physical switching costs between consumables and devices as fittings are universal, and while there may be individual customer preferences there is nothing that sets ResMed's masks apart from the competition.",
    "output": "[Cause] fittings are universal [Relation] cause [Effect] There are no physical switching costs between consumables and devices",
    "gold": "[Cause]  fittings are universal [Relation] cause [Effect] There are no physical switching costs between consumables and devices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we are not yet convinced it has sustainable competitive advantages that can shield it from competitors, and we think its stock has a lot of room to drop if its sales growth materially decelerates.",
    "output": "[Cause] its sales growth materially decelerates [Relation] cause [Effect] its stock has a lot of room to drop",
    "gold": "[Cause] we are not yet convinced it has sustainable competitive advantages that can shield it from competitors [Relation] cause [Effect] we think its stock has a lot of room to drop if its sales growth materially decelerates",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think US Foods' growth has been stymied by cost-cutting efforts, a move with nontrivial consequences, as we view scale as the path to a competitive edge.",
    "output": "[Cause] cost-cutting efforts [Relation] prevent [Effect] US Foods' growth",
    "gold": "[Cause]  cost-cutting efforts [Relation] prevent [Effect]  US Foods' growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think US Foods' growth has been stymied by cost-cutting efforts, a move with nontrivial consequences, as we view scale as the path to a competitive edge.",
    "output": "[Cause] cost-cutting efforts [Relation] prevent [Effect] US Foods' growth",
    "gold": "[Cause]  we view scale as the path to a competitive edge [Relation] cause [Effect]  nontrivial consequences",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With that significant and growing market share, HCA can negotiate reasonable rates with key health insurers in those local markets.",
    "output": "[Cause] significant and growing market share [Relation] enable [Effect] HCA can negotiate reasonable rates with key health insurers in those local markets",
    "gold": "[Cause] significant and growing market share [Relation] cause [Effect] HCA can negotiate reasonable rates with key health insurers in those local markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The operator's historical investments in \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"anyware\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" ordering, a best-in-class e-commerce interface, and a mix that skewed toward delivery (55%) pre-pandemic propelled 12.7% global system sales growth during a year where the aggregate food-service market shrunk by a quarter.",
    "output": "[Cause] The operator's historical investments in \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"",
    "gold": "[Cause] The operator's historical investments in \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"anyware\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" ordering, a best-in-class e-commerce interface, and a mix that skewed toward delivery (55%) pre-pandemic [Relation] cause [Effect] propelled 12.7% global system sales growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Fee-for-service plans often provide very little oversight and few incentives for the end users to control health-related expenditures, which can lead to higher spending per member than in managed-care plans.",
    "output": "[Cause] Fee-for-service plans often provide very little oversight and few incentives for the end users to control health-related expenditures [Relation] cause [Effect] higher spending per member than in managed-care plans",
    "gold": "[Cause] Fee-for-service plans often provide very little oversight and few incentives for the end users to control health-related expenditures [Relation] cause [Effect] higher spending per member than in managed-care plans",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Providing reimbursement parity for telehealth (equal to in-office reimbursement) from both public and private payers has temporarily alleviated the third and final hurdle the telemedicine industry faces, removing a disincentive that providers faced integrating virtual care into their practice.",
    "output": "[Cause] Providing reimbursement parity for telehealth (equal to in-office reimbursement) from both public and private payers [Relation] enable [Effect] temporarily alleviated the third and final hurdle the telemedicine industry faces",
    "gold": "[Cause] Providing reimbursement parity for telehealth (equal to in-office reimbursement) from both public and private payers [Relation] cause [Effect] temporarily alleviated the third and final hurdle the telemedicine industry faces",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Providing reimbursement parity for telehealth (equal to in-office reimbursement) from both public and private payers has temporarily alleviated the third and final hurdle the telemedicine industry faces, removing a disincentive that providers faced integrating virtual care into their practice.",
    "output": "[Cause] Providing reimbursement parity for telehealth (equal to in-office reimbursement) from both public and private payers [Relation] enable [Effect] temporarily alleviated the third and final hurdle the telemedicine industry faces",
    "gold": "[Cause] Providing reimbursement parity for telehealth (equal to in-office reimbursement) from both public and private payers [Relation] cause [Effect] removing a disincentive that providers faced integrating virtual care into their practice",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "International tastes may change to no longer appreciate Discovery's American-produced content, forcing the company to source more programming locally and thus hurting margins.",
    "output": "[Cause] International tastes may change [Relation] cause [Effect] no longer appreciate Discovery's American-produced content",
    "gold": "[Cause] International tastes may change [Relation] cause [Effect] no longer appreciate Discovery's American-produced content",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "International tastes may change to no longer appreciate Discovery's American-produced content, forcing the company to source more programming locally and thus hurting margins.",
    "output": "[Cause] no longer appreciate Discovery's American-produced content [Relation] cause [Effect] the company to source more programming locally",
    "gold": "[Cause] no longer appreciate Discovery's American-produced content [Relation] cause [Effect] the company to source more programming locally",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "International tastes may change to no longer appreciate Discovery's American-produced content, forcing the company to source more programming locally and thus hurting margins.",
    "output": "[Cause] no longer appreciate Discovery's American-produced content [Relation] cause [Effect] hurting margins",
    "gold": "[Cause] no longer appreciate Discovery's American-produced content [Relation] cause [Effect] hurting margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We now expect gross margin expansion for the full year despite first-quarter supply and demand disruption (which led to more than 1,200 basis points of deleverage for the period), as volume leverage more than offset this pressure over the remainder of the year.",
    "output": "[Cause] volume leverage more than offset this pressure over the remainder of the year [Relation] cause [Effect] gross margin expansion for the full year despite first-quarter supply and demand disruption",
    "gold": "[Cause] volume leverage more than offset this pressure over the remainder of the year [Relation] cause [Effect] We now expect gross margin expansion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We anticipate elevated commercial HVAC sales for the foreseeable future driven by heightened demand for more energy-efficient systems that deliver better air quality, and we believe Carrier, along with other leading HVAC companies, are well positioned to serve this growing market.",
    "output": "[Cause] heightened demand for more energy-efficient systems that deliver better air quality [Relation] cause [Effect] elevated commercial HVAC sales for the foreseeable future",
    "gold": "[Cause]  more energy-efficient systems [Relation] enable [Effect] better air quality",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As such, Campbell had been opting to allocate a portion of its consumer marketing spending to promotions in an effort to prop up volume in soup and beverages as well as its Pepperidge Farm snacks and bakery lineup.",
    "output": "[Cause] Campbell had been opting to allocate a portion of its consumer marketing spending to promotions [Relation] enable [Effect] prop up volume in soup and beverages as well as its Pepperidge Farm snacks and bakery lineup",
    "gold": "[Cause] prop up volume in soup and beverages as well as its Pepperidge Farm snacks and bakery lineup [Relation] enable [Effect]  Campbell had been opting to allocate a portion of its consumer marketing spending to promotions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In exchange for earning a fair return for its shareholders, CenterPoint's utilities are expected to provide safe and reliable service at the lowest possible rates.",
    "output": "[Cause] In exchange for earning a fair return for its shareholders [Relation] enable [Effect] CenterPoint's utilities are expected to provide safe and reliable service at the lowest possible rates",
    "gold": "[Cause] In exchange for earning a fair return for its shareholders [Relation] enable [Effect] CenterPoint's utilities are expected to provide safe and reliable service at the lowest possible rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the medium term, we see a wave of modernizations in Europe and then in China providing the company with the opportunity to sell digital services on the modernization installations.",
    "output": "[Cause] a wave of modernizations in Europe and then in China [Relation] enable [Effect] the company with the opportunity to sell digital services on the modernization installations",
    "gold": "[Cause]  the opportunity to sell digital services on the modernization installations [Relation] enable [Effect]  a wave of modernizations in Europe and then in China",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Once the economic cycle turns, this could result in greater potential for consumer defaults, as well as a longer period of decreased economic demand.",
    "output": "[Cause] the economic cycle turns [Relation] cause [Effect] greater potential for consumer defaults",
    "gold": "[Cause] Once the economic cycle turns [Relation] cause [Effect] a longer period of decreased economic demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Comerica is also not large enough to be subject to the Fed's stress tests because it has less than $100 billion in assets.",
    "output": "[Cause] it has less than $100 billion in assets [Relation] cause [Effect] Comerica is also not large enough to be subject to the Fed's stress tests",
    "gold": "[Cause] it has less than $100 billion in assets [Relation] cause [Effect] Comerica is also not large enough to be subject to the Fed's stress tests",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, given the relatively asset-light nature of the business, returns on invested capital are very high, averaging over 150% over the past five years.",
    "output": "[Cause] the relatively asset-light nature of the business [Relation] cause [Effect] returns on invested capital are very high",
    "gold": "[Cause] the relatively asset-light nature of the business [Relation] cause [Effect] returns on invested capital are very high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the importance of a talented workforce in the services-oriented commercial real estate industry, it is imperative that firms such as JLL continue to attract and retain top employees.",
    "output": "[Cause] the importance of a talented workforce in the services-oriented commercial real estate industry [Relation] cause [Effect] it is imperative that firms such as JLL continue to attract and retain top employees",
    "gold": "[Cause]  the importance of a talented workforce in the services-oriented commercial real estate industry [Relation] cause [Effect]  it is imperative that firms such as JLL continue to attract and retain top employees",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Still, the stores' criticality leaves the firm vulnerable to high infection rates that could lead to further closures despite the assortment changes.",
    "output": "[Cause] the stores' criticality [Relation] cause [Effect] the firm vulnerable to high infection rates",
    "gold": "[Cause] the firm vulnerable to high infection rates [Relation] cause [Effect] further closures",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Still, the stores' criticality leaves the firm vulnerable to high infection rates that could lead to further closures despite the assortment changes.",
    "output": "[Cause] the firm vulnerable to high infection rates [Relation] cause [Effect] further closures",
    "gold": "[Cause] the stores' criticality [Relation] cause [Effect] the firm vulnerable to high infection rates",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Xcel's growth could hit the top end of management's earnings growth target if the company gains regulatory approval for new projects in 2022 and beyond.",
    "output": "[Cause] the company gains regulatory approval for new projects in 2022 and beyond [Relation] enable [Effect] Xcel's growth could hit the top end of management's earnings growth target",
    "gold": "[Cause] the company gains regulatory approval for new projects in 2022 and beyond [Relation] enable [Effect] Xcel's growth could hit the top end of management's earnings growth target",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From a profitability standpoint, the coronavirus pandemic has slowed Danone progress down (a headwind due to negative mix and higher costs in the supply chain) with reinstated guidance calling for 14% operating margins in fiscal 2020 from target operating margins of more than 15% previously.",
    "output": "[Cause] the coronavirus pandemic [Relation] cause [Effect] slowed Danone progress down (a headwind due to negative mix and higher costs in the supply chain) with reinstated guidance calling for 14% operating margins in fiscal 2020 from target operating margins of more than 15% previously",
    "gold": "[Cause] negative mix and higher costs in the supply chain [Relation] cause [Effect]  slowed Danone progress down",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think margin expansion is reasonable because as the firm grows, lower-margin acquired companies would become a smaller part of the portfolio.",
    "output": "[Cause] the firm grows [Relation] cause [Effect] margin expansion is reasonable",
    "gold": "[Cause] the firm grows [Relation] cause [Effect]  lower-margin acquired companies would become a smaller part of the portfolio",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think margin expansion is reasonable because as the firm grows, lower-margin acquired companies would become a smaller part of the portfolio.",
    "output": "[Cause] the firm grows [Relation] cause [Effect] lower-margin acquired companies would become a smaller part of the portfolio",
    "gold": "[Cause]  as the firm grows, lower-margin acquired companies would become a smaller part of the portfolio [Relation] cause [Effect] We think margin expansion is reasonable because as the firm grows",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If competition on both sides chips away at PayPal's position, the network effect that has driven the business historically could deteriorate quickly.",
    "output": "[Cause] competition on both sides chips away at PayPal's position [Relation] cause [Effect] the network effect that has driven the business historically could deteriorate quickly",
    "gold": "[Cause] competition on both sides chips away at PayPal's position [Relation] cause [Effect] the network effect that has driven the business historically could deteriorate quickly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm already has the most comprehensive AIDC portfolio in the world, which allows it to provide customers with deeply specialized and customized offerings to optimize their workflows.",
    "output": "[Cause] The firm already has the most comprehensive AIDC portfolio in the world [Relation] enable [Effect] it to provide customers with deeply specialized and customized offerings to optimize their workflows",
    "gold": "[Cause] The firm already has the most comprehensive AIDC portfolio in the world [Relation] enable [Effect] it to provide customers with deeply specialized and customized offerings to optimize their workflows",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, despite significant fragmentation in many of the regions and markets that Amphenol is targeting, ongoing consolidation could cause the firm to run into well-capitalized competition, leading to pricing pressure or bidding wars.",
    "output": "[Cause] ongoing consolidation [Relation] cause [Effect] the firm to run into well-capitalized competition, leading to pricing pressure or bidding wars",
    "gold": "[Cause] ongoing consolidation [Relation] cause [Effect] the firm to run into well-capitalized competition, leading to pricing pressure or bidding wars",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The financial impact can be even more pronounced if there is a swift and significant drop in housing demand because homebuilders have less time to adjust to a revised demand outlook.",
    "output": "[Cause] homebuilders have less time to adjust to a revised demand outlook [Relation] cause [Effect] The financial impact can be even more pronounced if there is a swift and significant drop in housing demand",
    "gold": "[Cause]  a swift and significant drop in housing demand [Relation] cause [Effect] The financial impact can be even more pronounced",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The financial impact can be even more pronounced if there is a swift and significant drop in housing demand because homebuilders have less time to adjust to a revised demand outlook.",
    "output": "[Cause] homebuilders have less time to adjust to a revised demand outlook [Relation] cause [Effect] The financial impact can be even more pronounced",
    "gold": "[Cause] homebuilders have less time to adjust to a revised demand outlook [Relation] cause [Effect]  a swift and significant drop in housing demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we contend that Ingredion's specialty ingredients business operates with a narrow moat and earns excess ROICs. As a result, it has served as the key driver of the positive economic profit spread witnessed on a companywide basis each year over the past decade.",
    "output": "[Cause] Ingredion's specialty ingredients business operates with a narrow moat and earns excess ROICs [Relation] cause [Effect] it has served as the key driver of the positive economic profit spread witnessed on a companywide basis each year over the past decade",
    "gold": "[Cause]  Ingredion's specialty ingredients business operates with a narrow moat and earns excess ROICs [Relation] cause [Effect] it has served as the key driver of the positive economic profit spread witnessed on a companywide basis each year over the past decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The contactor bears the financial risk of cost overruns for these programs, so a poorly executed development contract may financially strain General Dynamics and make it difficult to win future contracts.",
    "output": "[Cause] The contactor bears the financial risk of cost overruns for these programs [Relation] cause [Effect] a poorly executed development contract may financially strain General Dynamics and make it difficult to win future contracts",
    "gold": "[Cause] The contactor bears the financial risk of cost overruns for these programs [Relation] cause [Effect] a poorly executed development contract may financially strain General Dynamics and make it difficult to win future contracts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Turning to Chipotle's brand intangible asset, we believe that robust comparable store sales performance, strong loyalty program uptake, and compelling unit economics attest to the brand's strength, while forward-looking investments stand to entrench pricing power and affinity moving forward.",
    "output": "[Cause] robust comparable store sales performance, strong loyalty program uptake, and compelling unit economics [Relation] enable [Effect] the brand's strength",
    "gold": "[Cause] robust comparable store sales performance, strong loyalty program uptake, and compelling unit economics [Relation] cause [Effect]  the brand's strength",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Turning to Chipotle's brand intangible asset, we believe that robust comparable store sales performance, strong loyalty program uptake, and compelling unit economics attest to the brand's strength, while forward-looking investments stand to entrench pricing power and affinity moving forward.",
    "output": "[Cause] forward-looking investments [Relation] enable [Effect] entrench pricing power and affinity moving forward",
    "gold": "[Cause] forward-looking investments [Relation] enable [Effect] entrench pricing power and affinity moving forward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, we expect Broadridge to build on its wealth management capabilities given the momentum it gained by signing UBS Americas as a client.",
    "output": "[Cause] the momentum it gained by signing UBS Americas as a client [Relation] cause [Effect] Broadridge to build on its wealth management capabilities",
    "gold": "[Cause] the momentum it gained by signing UBS Americas as a client [Relation] enable [Effect] Broadridge to build on its wealth management capabilities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although a short-term funding crisis during this economic cycle became increasingly remote after Goldman gained access to government and private lending facilities and capital infusions, additional shocks to the financial system down the road could renew solvency or liquidity fears.",
    "output": "[Cause] additional shocks to the financial system down the road [Relation] cause [Effect] renew solvency or liquidity fears",
    "gold": "[Cause] additional shocks to the financial system down the road [Relation] cause [Effect] renew solvency or liquidity fears",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect a longer spending cycle than previous wireless generations due to increased small cell antenna deployment requirements with software orchestration as well as applications outside of mobile phones, such as private and Internet of Things networks.",
    "output": "[Cause] increased small cell antenna deployment requirements with software orchestration as well as applications outside of mobile phones, such as private and Internet of Things networks [Relation] cause [Effect] a longer spending cycle than previous wireless generations",
    "gold": "[Cause] increased small cell antenna deployment requirements with software orchestration as well as applications outside of mobile phones, such as private and Internet of Things networks [Relation] cause [Effect] a longer spending cycle than previous wireless generations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect a longer spending cycle than previous wireless generations due to increased small cell antenna deployment requirements with software orchestration as well as applications outside of mobile phones, such as private and Internet of Things networks.",
    "output": "[Cause] applications outside of mobile phones, such as private and Internet of Things networks [Relation] cause [Effect] a longer spending cycle than previous wireless generations",
    "gold": "[Cause] software orchestration [Relation] cause [Effect] increased small cell antenna deployment requirements",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect a longer spending cycle than previous wireless generations due to increased small cell antenna deployment requirements with software orchestration as well as applications outside of mobile phones, such as private and Internet of Things networks.",
    "output": "[Cause] applications outside of mobile phones, such as private and Internet of Things networks [Relation] cause [Effect] a longer spending cycle than previous wireless generations",
    "gold": "[Cause] applications outside of mobile phones, such as private and Internet of Things networks [Relation] cause [Effect] increased small cell antenna deployment requirements",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Sanctions put in place that target Russian gas producer Novatek could put at risk the value of Total's recent multibillion-dollar investments in the country.",
    "output": "[Cause] Sanctions put in place [Relation] cause [Effect] put at risk the value of Total's recent multibillion-dollar investments in the country",
    "gold": "[Cause] Russian gas producer Novatek could put at risk the value of Total's recent multibillion-dollar investments in the country [Relation] cause [Effect] Sanctions put in place",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The Kindle and other devices further bolster the ecosystem by helping attract new customers, while making the value proposition irresistible in retaining existing customers.",
    "output": "[Cause] The Kindle and other devices further bolster the ecosystem by helping attract new customers [Relation] enable [Effect] making the value proposition irresistible in retaining existing customers",
    "gold": "[Cause] helping attract new customers [Relation] cause [Effect] The Kindle and other devices further bolster the ecosystem",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the way the entities have been set up, distributions on a per-unit basis are the same, so there are no expected differences in distribution growth going forward.",
    "output": "[Cause] the way the entities have been set up [Relation] cause [Effect] distributions on a per-unit basis are the same",
    "gold": "[Cause]  the way the entities have been set up [Relation] cause [Effect] distributions on a per-unit basis are the same",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that all of the major North American Class I railroads benefit from colossal barriers to entry due to their established, practically impossible-to-replicate networks of rights of way and continuously welded steel rail.",
    "output": "[Cause] their established, practically impossible-to-replicate networks of rights of way and continuously welded steel rail [Relation] cause [Effect] all of the major North American Class I railroads benefit from colossal barriers to entry",
    "gold": "[Cause] their established, practically impossible-to-replicate networks of rights of way and continuously welded steel rail [Relation] cause [Effect] all of the major North American Class I railroads benefit from colossal barriers to entry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the firm's highest-growth opportunities will come from further building out its software portfolio and growing its base of recurring revenue, as well as from expanding its footprint in the healthcare market as health records and hospital workflows become digitized.",
    "output": "[Cause] health records and hospital workflows become digitized [Relation] cause [Effect] expanding its footprint in the healthcare market",
    "gold": "[Cause]  further building out its software portfolio and growing its base of recurring revenue, as well as from expanding its footprint in the healthcare market [Relation] enable [Effect]  the firm's highest-growth opportunities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think the firm's highest-growth opportunities will come from further building out its software portfolio and growing its base of recurring revenue, as well as from expanding its footprint in the healthcare market as health records and hospital workflows become digitized.",
    "output": "[Cause] health records and hospital workflows become digitized [Relation] cause [Effect] expanding its footprint in the healthcare market",
    "gold": "[Cause] health records and hospital workflows become digitized [Relation] cause [Effect] expanding its footprint in the healthcare market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the company generates lower carbon intensity from its lighter oil and natural gas assets, resulting in best-in-class corporate emissions among the peer group.",
    "output": "[Cause] the company generates lower carbon intensity from its lighter oil and natural gas assets [Relation] cause [Effect] best-in-class corporate emissions among the peer group",
    "gold": "[Cause] the company generates lower carbon intensity from its lighter oil and natural gas assets [Relation] cause [Effect] best-in-class corporate emissions among the peer group",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the European Central Bank has since started playing a much more active role in the oversight of European banks, which does reduce regional 7 Jul 2021 05:00, UTCdifferences and, in our opinion, strengthens the regulatory framework across the continent.",
    "output": "[Cause] the European Central Bank has since started playing a much more active role in the oversight of European banks [Relation] enable [Effect] reduce regional 7 Jul 2021 05:00, UTCdifferences and, in our opinion, strengthens the regulatory framework across the continent",
    "gold": "[Cause]  the European Central Bank has since started playing a much more active role in the oversight of European banks [Relation] cause [Effect] reduce regional 7 Jul 2021 05:00, UTCdifferences and, in our opinion, strengthens the regulatory framework across the continent",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If companies do not continue to see value in CGI's proximity to their offices and prefer clients with greater offshore leverage, the business' labor participation ratio could be negatively impacted.",
    "output": "[Cause] companies do not continue to see value in CGI's proximity to their offices and prefer clients with greater offshore leverage [Relation] cause [Effect] the business' labor participation ratio could be negatively impacted",
    "gold": "[Cause] companies do not continue to see value in CGI's proximity to their offices and prefer clients with greater offshore leverage [Relation] enable [Effect] the business' labor participation ratio could be negatively impacted",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The elimination of higher-cost and lower-return facilities as well as mix shift toward chemicals should improve returns in the segment.",
    "output": "[Cause] The elimination of higher-cost and lower-return facilities as well as mix shift toward chemicals [Relation] enable [Effect] improve returns in the segment",
    "gold": "[Cause] The elimination of higher-cost and lower-return facilities as well as mix shift toward chemicals [Relation] cause [Effect] improve returns in the segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Exelon has shown its political clout, winning price subsidies in Illinois, New York, and New Jersey to keep some of its nuclear fleet running.",
    "output": "[Cause] Exelon has shown its political clout [Relation] enable [Effect] winning price subsidies in Illinois, New York, and New Jersey",
    "gold": "[Cause] keep some of its nuclear fleet running [Relation] cause [Effect] Exelon has shown its political clout",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also expect the high cost of maintaining nationwide coverage and its diminutive size will limit Dish's ability to compete on a large scale over the long term.",
    "output": "[Cause] the high cost of maintaining nationwide coverage and its diminutive size [Relation] prevent [Effect] Dish's ability to compete on a large scale over the long term",
    "gold": "[Cause] the high cost of maintaining nationwide coverage and its diminutive size [Relation] prevent [Effect] Dish's ability to compete on a large scale over the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "West's dominant market position, which has proven to be durable over the past several decades, is evidence of the firm's strong intangible assets.",
    "output": "[Cause] West's dominant market position, which has proven to be durable over the past several decades [Relation] enable [Effect] the firm's strong intangible assets",
    "gold": "[Cause] West's dominant market position, which has proven to be durable over the past several decades [Relation] cause [Effect] the firm's strong intangible assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It is plausible that cash-strapped hospitals that receive no additional reimbursement for robot usage may opt for a plodding yet cheaper alternative of manual laparoscopy, particularly if the clinical body of work supporting robotic surgery over traditional MIS is lacking.",
    "output": "[Cause] cash-strapped hospitals that receive no additional reimbursement for robot usage [Relation] cause [Effect] opt for a plodding yet cheaper alternative of manual laparoscopy",
    "gold": "[Cause] cash-strapped hospitals that receive no additional reimbursement for robot usage [Relation] cause [Effect] opt for a plodding yet cheaper alternative of manual laparoscopy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the rising volume of apartment deliveries, in addition to the likely development of more-affordable suburban apartments and single-family homes, will continue to pressure market rents and offset much of the demand growth created by demographic trends.",
    "output": "[Cause] pressure market rents [Relation] prevent [Effect] much of the demand growth created by demographic trends",
    "gold": "[Cause]  the rising volume of apartment deliveries [Relation] cause [Effect]  development of more-affordable suburban apartments and single-family homes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Commercial and consumer relationships have grown at a brisk pace, bringing a significant amount of low-cost deposit funding to the bank.",
    "output": "[Cause] Commercial and consumer relationships have grown at a brisk pace [Relation] cause [Effect] bringing a significant amount of low-cost deposit funding to the bank",
    "gold": "[Cause] Commercial and consumer relationships have grown at a brisk pace [Relation] cause [Effect] bringing a significant amount of low-cost deposit funding to the bank",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company finds a receptive audience with large pharma clients, which see sizable benefits in the simplified procurement process Thermo Fisher offers.",
    "output": "[Cause] The company finds a receptive audience with large pharma clients [Relation] enable [Effect] see sizable benefits in the simplified procurement process Thermo Fisher offers",
    "gold": "[Cause] see sizable benefits in the simplified procurement process Thermo Fisher offers [Relation] cause [Effect] a receptive",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Post's food-service products are designed to save time and labor for its clients, such as liquid eggs to eliminate the need for cracking, shelled eggs, and eggs and potatoes cut into various formats.",
    "output": "[Cause] Post's food-service products are designed to save time and labor for its clients [Relation] enable [Effect] liquid eggs to eliminate the need for cracking, shelled eggs, and eggs and potatoes cut into various formats",
    "gold": "[Cause] Post's food-service products [Relation] enable [Effect] to save time and labor for its clients",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, pricing pressure looms for linerboard in this segment, as we believe paper machine conversions to linerboard will threaten pricing.",
    "output": "[Cause] paper machine conversions to linerboard will threaten pricing [Relation] cause [Effect] pricing pressure looms for linerboard in this segment",
    "gold": "[Cause] paper machine conversions to linerboard will threaten pricing [Relation] enable [Effect] pricing pressure looms for linerboard in this segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also model cable capital spending to migrate back up toward 13% of revenue from 11% in 2020, as increased investment to extend fiber optic cable to more locations offsets the decline in set-top box spending.",
    "output": "[Cause] increased investment to extend fiber optic cable to more locations offsets the decline in set-top box spending [Relation] cause [Effect] cable capital spending to migrate back up toward 13% of revenue from 11% in 2020",
    "gold": "[Cause] model cable capital spending [Relation] enable [Effect] migrate back up toward 13% of revenue from 11% in 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also model cable capital spending to migrate back up toward 13% of revenue from 11% in 2020, as increased investment to extend fiber optic cable to more locations offsets the decline in set-top box spending.",
    "output": "[Cause] increased investment to extend fiber optic cable to more locations offsets the decline in set-top box spending [Relation] cause [Effect] model cable capital spending to migrate back up toward 13% of revenue from 11% in 2020",
    "gold": "[Cause] increased investment to extend fiber optic cable to more locations offsets the decline in set-top box spending [Relation] cause [Effect] model cable capital spending to migrate back up toward 13% of revenue from 11% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since restaurant sourcing costs are considered confidential information, companies generally do not talk about them in great detail, thus making side-by-side comparison difficult.",
    "output": "[Cause] restaurant sourcing costs are considered confidential information [Relation] cause [Effect] companies generally do not talk about them in great detail",
    "gold": "[Cause]  restaurant sourcing costs are considered confidential information [Relation] cause [Effect] companies generally do not talk about them in great detail",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since restaurant sourcing costs are considered confidential information, companies generally do not talk about them in great detail, thus making side-by-side comparison difficult.",
    "output": "[Cause] companies generally do not talk about them in great detail [Relation] cause [Effect] side-by-side comparison difficult",
    "gold": "[Cause] companies generally do not talk about them in great detail [Relation] cause [Effect]  side-by-side comparison difficult",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While some auto repair volume is countercyclical, as vehicles tend to age during recessions, technicians' ability to repay debt may be impeded by factors such as loss of spouse's income when unemployment increases.",
    "output": "[Cause] vehicles tend to age during recessions [Relation] cause [Effect] some auto repair volume is countercyclical",
    "gold": "[Cause] vehicles tend to age during recessions [Relation] cause [Effect] some auto repair volume is countercyclical",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While some auto repair volume is countercyclical, as vehicles tend to age during recessions, technicians' ability to repay debt may be impeded by factors such as loss of spouse's income when unemployment increases.",
    "output": "[Cause] losses of spouse's income when unemployment increases [Relation] prevent [Effect] technicians' ability to repay debt",
    "gold": "[Cause] factors such as loss of spouse's income when unemployment increases [Relation] prevent [Effect] technicians' ability to repay debt",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although new competitors could set up shop on Home Depot's turf, we think a new player in the industry would be hard-pressed to offer similar product prices, as it likely wouldn't have vendor relationships of the same strength.",
    "output": "[Cause] it likely wouldn't have vendor relationships of the same strength [Relation] cause [Effect] a new player in the industry would be hard-pressed to offer similar product prices",
    "gold": "[Cause] it likely wouldn't have vendor relationships of the same strength [Relation] cause [Effect] a new player in the industry would be hard-pressed to offer similar product prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project per-barrel operating costs to hold relatively steady as natural gas prices remain low and cost-cutting measures take hold.",
    "output": "[Cause] natural gas prices remain low and cost-cutting measures take hold [Relation] cause [Effect] per-barrel operating costs to hold relatively steady",
    "gold": "[Cause] natural gas prices remain low and cost-cutting measures take hold [Relation] cause [Effect] per-barrel operating costs to hold relatively steady",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Increasingly, exchanges are exploiting the value of intangible assets in the form of data sets derived from trading order flow in order to create a competitive advantage.",
    "output": "[Cause] exchanges are exploiting the value of intangible assets in the form of data sets derived from trading order flow [Relation] enable [Effect] create a competitive advantage",
    "gold": "[Cause] create a competitive advantage [Relation] enable [Effect] exchanges are exploiting the value of intangible assets in the form of data sets derived from trading order flow",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think Hubbell's industry-leading breadth of product offering gives it an edge over its smaller competitors in the form of economies of scope, which typically have a much smaller product line except for Cooper (now a part of Eaton) and Thomas &amp; Bett (now owned by ABB).",
    "output": "[Cause] Hubbell's industry-leading breadth of product offering [Relation] enable [Effect] an edge over its smaller competitors in the form of economies of scope",
    "gold": "[Cause] Hubbell's industry-leading breadth of product offering gives it an edge over its smaller competitors in the form of economies of scope [Relation] cause [Effect] have a much smaller product line except for Cooper (now a part of Eaton) and Thomas &amp; Bett (now owned by ABB)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Eliminating Oi should further reduce pricing pressure in the market while also allowing the remaining carriers to benefit from additional scale.",
    "output": "[Cause] Eliminating Oi [Relation] enable [Effect] the remaining carriers to benefit from additional scale",
    "gold": "[Cause] additional scale [Relation] enable [Effect]  the remaining carriers to benefit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As the chase to provide space to hyperscale customers like these slows, we believe having unique properties like CoreSite's will be a differentiator.",
    "output": "[Cause] the chase to provide space to hyperscale customers like these slows [Relation] cause [Effect] having unique properties like CoreSite's will be a differentiator",
    "gold": "[Cause] the chase to provide space to hyperscale customers like these slows [Relation] cause [Effect] having unique properties like CoreSite's will be a differentiator",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe these projects have generally met Toll Brothers' expectations, and we think the company has a robust project pipeline that will continue to contribute profitable growth in a healthy market.",
    "output": "[Cause] the company has a robust project pipeline [Relation] enable [Effect] profitable growth in a healthy market",
    "gold": "[Cause] the company has a robust project pipeline [Relation] enable [Effect] profitable growth in a healthy market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, some of KBR's government projects involve operating in challenging environments, including remote areas and war zones, and therefore carry high execution risk.",
    "output": "[Cause] some of KBR's government projects involve operating in challenging environments, including remote areas and war zones [Relation] cause [Effect] carry high execution risk",
    "gold": "[Cause] some of KBR's government projects involve operating in challenging environments, including remote areas and war zones [Relation] cause [Effect] carry high execution risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, Valvoline's joint venture with Cummins in India and China allows it to work with a known OEM partner to develop bespoke products that can effectively anchor future expansion, benefiting from the partner's brand strength.",
    "output": "[Cause] Valvoline's joint venture with Cummins in India and China [Relation] enable [Effect] work with a known OEM partner to develop bespoke products",
    "gold": "[Cause]  Valvoline's joint venture with Cummins in India and China [Relation] enable [Effect]  work with a known OEM partner to develop bespoke products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, Valvoline's joint venture with Cummins in India and China allows it to work with a known OEM partner to develop bespoke products that can effectively anchor future expansion, benefiting from the partner's brand strength.",
    "output": "[Cause] Valvoline's joint venture with Cummins in India and China [Relation] enable [Effect] effectively anchor future expansion, benefiting from the partner's brand strength",
    "gold": "[Cause]  Valvoline's joint venture with Cummins in India and China [Relation] enable [Effect] effectively anchor future expansion, benefiting from the partner's brand strength",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our base case assumes rate cuts combined with economic malaise caused by the coronavirus will challenge the bank's efficiency ratio in the near term.",
    "output": "[Cause] rate cuts combined with economic malaise caused by the coronavirus [Relation] cause [Effect] challenge the bank's efficiency ratio in the near term",
    "gold": "[Cause] rate cuts combined with economic malaise caused by the coronavirus [Relation] cause [Effect] challenge the bank's efficiency ratio in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Toll Brothers is the leading luxury homebuilder in the United States with limited direct competition from public homebuilding peers.",
    "output": "[Cause] limited direct competition from public homebuilding peers [Relation] cause [Effect] Toll Brothers is the leading luxury homebuilder in the United States",
    "gold": "[Cause] limited direct competition from public homebuilding peers [Relation] enable [Effect] Toll Brothers is the leading luxury homebuilder in the United States",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result of its M&amp;A focus, Fortive continues to add assets and goodwill to its capital base, which constrains growth in returns on invested capital.",
    "output": "[Cause] Fortive continues to add assets and goodwill to its capital base [Relation] prevent [Effect] growth in returns on invested capital",
    "gold": "[Cause] Fortive continues to add assets and goodwill to its capital base [Relation] prevent [Effect] growth in returns on invested capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, high penetration in the acute care EHR space and maturity of the EHR replacement market significantly limit Cerner's growth opportunities in core EHR beyond 2028.",
    "output": "[Cause] high penetration in the acute care EHR space and maturity of the EHR replacement market [Relation] prevent [Effect] Cerner's growth opportunities in core EHR beyond 2028",
    "gold": "[Cause] high penetration in the acute care EHR space and maturity of the EHR replacement market [Relation] prevent [Effect] Cerner's growth opportunities in core EHR beyond 2028",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect prudent cost-control measures, combined with the pace of revenue growth, to expand GAAP operating margin beyond break-even in 2023 versus the 14% loss in 2020 (non-GAAP operating margin increasing to the 20% range versus 8% in 2020).",
    "output": "[Cause] prudent cost-control measures, combined with the pace of revenue growth [Relation] enable [Effect] expand GAAP operating margin beyond break-even in 2023 versus the 14% loss in 2020 (non-GAAP operating margin increasing to the 20% range versus 8% in 2020)",
    "gold": "[Cause] the pace of revenue growth, to expand GAAP operating margin beyond break-even in 2023 versus the 14% loss in 2020 [Relation] cause [Effect] prudent cost-control measures",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Risks surrounding a second wave of cases and elongated time until an effective treatment and vaccine are globally available remain, which could delay our forecast recovery in demand.",
    "output": "[Cause] Risks surrounding a second wave of cases and elongated time until an effective treatment and vaccine are globally available remain [Relation] cause [Effect] delay our forecast recovery in demand",
    "gold": "[Cause] Risks surrounding a second wave of cases and elongated time until an effective treatment and vaccine are globally available remain [Relation] cause [Effect] delay our forecast recovery in demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Contractors save on overall costs by purchasing high-quality paint that decreases preparation and application time to lower labor costs.",
    "output": "[Cause] Contractors save on overall costs by purchasing high-quality paint [Relation] enable [Effect] decreases preparation and application time to lower labor costs",
    "gold": "[Cause] Contractors save on overall costs by purchasing high-quality paint [Relation] enable [Effect] decreases preparation and application time to lower labor costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If Comcast and its cable peers sharply increase their share of the Internet access market, regulatory pressure may grow, potentially offsetting the benefits of these gains.",
    "output": "[Cause] Comcast and its cable peers sharply increase their share of the Internet access market [Relation] cause [Effect] regulatory pressure may grow",
    "gold": "[Cause] Comcast and its cable peers sharply increase their share of the Internet access market [Relation] cause [Effect] regulatory pressure may grow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If Comcast and its cable peers sharply increase their share of the Internet access market, regulatory pressure may grow, potentially offsetting the benefits of these gains.",
    "output": "[Cause] regulatory pressure may grow [Relation] prevent [Effect] the benefits of these gains",
    "gold": "[Cause] regulatory pressure may grow [Relation] prevent [Effect] the benefits of these gains",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Partnering DaimlerChrysler aerospace engineers worked with different design software than that of Airbus engineers, leading to copper and aluminum wiring for the plane being too short as a result of the different software programs calculating wire bend radii differently.",
    "output": "[Cause] the different software programs calculating wire bend radii differently [Relation] cause [Effect] copper and aluminum wiring for the plane being too short",
    "gold": "[Cause] the different software programs calculating wire bend radii differently [Relation] cause [Effect] copper and aluminum wiring for the plane being too short",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Bancorp is one of the most efficient operators we cover. This is due to the strength of its traditional banking business as well as its advantageous mix of highly efficient nonbanking businesses.",
    "output": "[Cause] the strength of its traditional banking business as well as its advantageous mix of highly efficient nonbanking businesses [Relation] cause [Effect] Bancorp is one of the most efficient operators we cover",
    "gold": "[Cause]  the strength of its traditional banking business as well as its advantageous mix of highly efficient nonbanking businesses [Relation] cause [Effect] Bancorp is one of the most efficient operators we cover",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Similarly, any significant changes 2 Jun 2021 05:00, UTCto regulatory standards would open the door for new competitors, if they could demonstrate expertise with new regulatory regimes.",
    "output": "[Cause] they could demonstrate expertise with new regulatory regimes [Relation] enable [Effect] UTCto regulatory standards would open the door for new competitors",
    "gold": "[Cause] they could demonstrate expertise with new regulatory regimes [Relation] cause [Effect] UTCto regulatory standards would open the door for new competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Capri has suggested the two brands, when mature, could combine for $450 million in operating profit and account for 30% of its total operating profit, we do not forecast Capri will reach either goal in the next decade. This underlies our forecast for Michael Kors to generate at least 70% of Capri's annual operating profit through fiscal 2031.",
    "output": "[Cause] While Capri has suggested the two brands, when mature, could combine for $450 million in operating profit and account for 30% of its total operating profit, we do not forecast Capri will reach either goal in the next decade [Relation] cause [Effect] This underlies our forecast for Michael Kors to generate at least 70% of Capri's annual operating profit through fiscal 2031",
    "gold": "[Cause] While Capri has suggested the two brands, when mature, could combine for $450 million in operating profit and account for 30% of its total operating profit, we do not forecast Capri will reach either goal in the next decade [Relation] cause [Effect] This underlies our forecast for Michael Kors to generate at least 70% of Capri's annual operating profit through fiscal 2031",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Today, freight demand is strong due to solid consumer goods and e-commerce growth, which picked up in the second half of 2020, following pandemic lows.",
    "output": "[Cause] solid consumer goods and e-commerce growth [Relation] cause [Effect] Today, freight demand is strong",
    "gold": "[Cause] freight demand is strong due to solid consumer goods and e-commerce growth [Relation] cause [Effect]  picked up in the second half of 2020, following pandemic lows",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe that having the IT function within an enterprise as the initial landing pad is fortunate, as it provides a built-in advocate for software (an IT responsibility) for other functional areas of the enterprise.",
    "output": "[Cause] it provides a built-in advocate for software (an IT responsibility) for other functional areas of the enterprise [Relation] cause [Effect] having the IT function within an enterprise as the initial landing pad is fortunate",
    "gold": "[Cause] it provides a built-in advocate for software (an IT responsibility) for other functional areas of the enterprise [Relation] cause [Effect] having the IT function within an enterprise as the initial landing pad is fortunate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think demand for crops will be strong in the near term, largely due to robust demand from China and tight global supplies.",
    "output": "[Cause] robust demand from China and tight global supplies [Relation] cause [Effect] demand for crops will be strong in the near term",
    "gold": "[Cause]  robust demand from China and tight global supplies [Relation] cause [Effect] demand for crops will be strong in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Pratt and Whitney competes in a duopoly with a GE-Safran joint venture, CFM International, to engine the large and growing narrow-body market.",
    "output": "[Cause] Pratt and Whitney competes in a duopoly with a GE-Safran joint venture, CFM International [Relation] enable [Effect] to engine the large and growing narrow-body market",
    "gold": "[Cause] Pratt and Whitney competes in a duopoly with a GE-Safran joint venture, CFM International [Relation] cause [Effect] to engine the large and growing narrow-body market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Challenges to Economic Profit:  First, given that the cannabis industry remains in the growth stage, we think that years of significant investment will be necessary to support robust growth for the industry.",
    "output": "[Cause] years of significant investment [Relation] enable [Effect] robust growth for the industry",
    "gold": "[Cause] the cannabis industry remains in the growth stage [Relation] cause [Effect] years of significant investment will be necessary to support robust growth for the industry",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast the refining segment to remain profitable through our forecast period, assuming domestic refined product prices remain at elevated levels relative to international prices and foreign imports fall on lower demand and increased domestic production.",
    "output": "[Cause] domestic refined product prices remain at elevated levels relative to international prices and foreign imports fall on lower demand and increased domestic production [Relation] enable [Effect] the refining segment to remain profitable through our forecast period",
    "gold": "[Cause] domestic refined product prices remain at elevated levels relative to international prices and foreign imports fall on lower demand and increased domestic production [Relation] cause [Effect] the refining segment to remain profitable through our forecast period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of the monopoly status, FERC regulates the rates that can be charged, but it generally allows companies to earn a return on their capital well above their cost of capital.",
    "output": "[Cause] the monopoly status [Relation] cause [Effect] FERC regulates the rates that can be charged",
    "gold": "[Cause] the monopoly status [Relation] cause [Effect] FERC regulates the rates that can be charged",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Brand Intangible Assets:  The creation of brand-driven intangible assets could help cannabis companies establish pricing power and generate economic profits.",
    "output": "[Cause] The creation of brand-driven intangible assets [Relation] enable [Effect] cannabis companies establish pricing power and generate economic profits",
    "gold": "[Cause] The creation of brand-driven intangible assets [Relation] enable [Effect] cannabis companies establish pricing power and generate economic profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, as increasingly durable cars and trucks remain on the road longer than their forebears, motor oils engineered to meet the demands of high-mileage engines, such as Valvoline's MaxLife product, have become increasingly important.",
    "output": "[Cause] increasingly durable cars and trucks remain on the road longer than their forebears [Relation] cause [Effect] motor oils engineered to meet the demands of high-mileage engines, such as Valvoline's MaxLife product, have become increasingly important",
    "gold": "[Cause] increasingly durable cars and trucks remain on the road longer than their forebears [Relation] cause [Effect] motor oils engineered to meet the demands of high-mileage engines, such as Valvoline's MaxLife product, have become increasingly important",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The devastating mid-February winter storm in Texas created a temporary setback with nearly $1 billion of losses, but we expect NRG to continue pushing forward with its integration plan.",
    "output": "[Cause] The devastating mid-February winter storm in Texas [Relation] cause [Effect] a temporary setback with nearly $1 billion of losses",
    "gold": "[Cause] The devastating mid-February winter storm in Texas [Relation] cause [Effect] a temporary setback with nearly $1 billion of losses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Lithia will keep realizing strong SG&A leverage as it brings newly acquired stores up to its operating standards and gets the scale to match its growing size.",
    "output": "[Cause] it brings newly acquired stores up to its operating standards and gets the scale to match its growing size [Relation] cause [Effect] Lithia will keep realizing strong SG&A leverage",
    "gold": "[Cause] it brings newly acquired stores up to its operating standards and gets the scale to match its growing size [Relation] enable [Effect] Lithia will keep realizing strong SG&A leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As patents for FMC's successful crop chemical products expire, the company must continue to invest in R&D to develop new products from its the pipeline in order to maintain the same levels of profitability.",
    "output": "[Cause] patents for FMC's successful crop chemical products expire [Relation] cause [Effect] the company must continue to invest in R&D to develop new products from its the pipeline",
    "gold": "[Cause] patents for FMC's successful crop chemical products expire [Relation] cause [Effect] the company must continue to invest in R&D to develop new products from its the pipeline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As patents for FMC's successful crop chemical products expire, the company must continue to invest in R&D to develop new products from its the pipeline in order to maintain the same levels of profitability.",
    "output": "[Cause] the company must continue to invest in R&D to develop new products from its the pipeline [Relation] enable [Effect] maintain the same levels of profitability",
    "gold": "[Cause] the company must continue to invest in R&D to develop new products from its the pipeline [Relation] enable [Effect]  maintain the same levels of profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fastly is growing extraordinarily fast and is taking share from Akamai, and we believe its developer-friendly strategy and edge-computing capabilities are primary reasons.",
    "output": "[Cause] its developer-friendly strategy and edge-computing capabilities [Relation] cause [Effect] Fastly is growing extraordinarily fast and is taking share from Akamai",
    "gold": "[Cause]  its developer-friendly strategy and edge-computing capabilities [Relation] enable [Effect] Fastly is growing extraordinarily fast and is taking share from Akamai",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, the company's tests of cashierless checkout using the app could reduce Dollar General's labor needs, further enhancing its cost position (a move that comes as Dollar General boosts its in-store electronic surveillance measures to reduce shrink).",
    "output": "[Cause] the company's tests of cashierless checkout using the app could reduce Dollar General's labor needs [Relation] enable [Effect] further enhancing its cost position",
    "gold": "[Cause] the company's tests of cashierless checkout using the app could reduce Dollar General's labor needs [Relation] cause [Effect] further enhancing its cost position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Share shifts in this market are glacial at best, thanks to significant switching costs, and new technology does not necessarily overcome those switching costs.",
    "output": "[Cause] significant switching costs [Relation] cause [Effect] Share shifts in this market are glacial at best",
    "gold": "[Cause] significant switching costs [Relation] cause [Effect] Share shifts in this market are glacial at best",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we have a positive view of PVH's international expansion, Tommy Hilfiger and Calvin Klein suffered sales declines in North America in 2019, which we view as a sign of weakness in these brands.",
    "output": "[Cause] a sign of weakness in these brands [Relation] cause [Effect] Tommy Hilfiger and Calvin Klein suffered sales declines in North America in 2019",
    "gold": "[Cause]  a sign of weakness in these brands [Relation] cause [Effect] Tommy Hilfiger and Calvin Klein suffered sales declines in North America in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the current market, growth tends to be through consolidation of hospitals, health systems, and practices; this tends to benefit stronger peers with better-positioned system clients.",
    "output": "[Cause] growth tends to be through consolidation of hospitals, health systems, and practices [Relation] enable [Effect] benefit stronger peers with better-positioned system clients",
    "gold": "[Cause] growth tends to be through consolidation of hospitals, health systems, and practices [Relation] enable [Effect] benefit stronger peers with better-positioned system clients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nevertheless, we believe the provincial nature of most beer brands restricts the leveragability of global scale in the brewing industry.",
    "output": "[Cause] the provincial nature of most beer brands [Relation] prevent [Effect] the leveragability of global scale in the brewing industry",
    "gold": "[Cause]  the provincial nature of most beer brands [Relation] prevent [Effect]  the leveragability of global scale in the brewing industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Kinder Morgan's extensive natural gas and refined products pipelines and continued investment in major projects look set to extend the company's asset footprint and cash flows.",
    "output": "[Cause] Kinder Morgan's extensive natural gas and refined products pipelines and continued investment in major projects [Relation] enable [Effect] extend the company's asset footprint and cash flows",
    "gold": "[Cause] Kinder Morgan's extensive natural gas and refined products pipelines and continued investment in major projects [Relation] enable [Effect] extend the company's asset footprint and cash flows",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast wireless margins will hold roughly flat over the next five years, as Verizon's desire to keep its network at the forefront of the industry will cause the cost of servicing customers to increase over time, offsetting the benefit of improved pricing and ongoing efficiency efforts.",
    "output": "[Cause] Verizon's desire to keep its network at the forefront of the industry will cause the cost of servicing customers to increase over time [Relation] cause [Effect] wireless margins will hold roughly flat over the next five years",
    "gold": "[Cause] Verizon's desire to keep its network at the forefront of the industry [Relation] cause [Effect]  the cost of servicing customers to increase over time, offsetting the benefit of improved pricing and ongoing efficiency efforts",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The Northern California and Seattle markets have seen significant job and income growth generated by the technology industry, which has created substantial demand for rental units.",
    "output": "[Cause] The Northern California and Seattle markets have seen significant job and income growth generated by the technology industry [Relation] cause [Effect] created substantial demand for rental units",
    "gold": "[Cause] generated by the technology industry, which has created substantial demand for rental units. [Relation] enable [Effect] The Northern California and Seattle markets have seen significant job and income growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This is especially the case in XPO's asset-based LTL trucking operations because excess capacity has historically driven carriers across the industry to slash rates in an attempt to salvage asset utilization.",
    "output": "[Cause] excess capacity has historically driven carriers across the industry to slash rates in an attempt to salvage asset utilization [Relation] cause [Effect] This is especially the case in XPO's asset-based LTL trucking operations",
    "gold": "[Cause] excess capacity [Relation] cause [Effect] carriers across the industry to slash rates in an attempt to salvage asset utilization",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Broadly speaking, we believe the soft drink market lends itself well to scale efficiencies--it is heavily concentrated, and there is a confluence of relatively simple base inputs but unique ingredient formulations that ultimately result in distinct taste.",
    "output": "[Cause] the soft drink market lends itself well to scale efficiencies [Relation] cause [Effect] it is heavily concentrated",
    "gold": "[Cause] unique ingredient formulations [Relation] cause [Effect] distinct taste",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Broadly speaking, we believe the soft drink market lends itself well to scale efficiencies--it is heavily concentrated, and there is a confluence of relatively simple base inputs but unique ingredient formulations that ultimately result in distinct taste.",
    "output": "[Cause] unique ingredient formulations [Relation] cause [Effect] distinct taste",
    "gold": "[Cause] it is heavily concentrated, and there is a confluence of relatively simple base inputs [Relation] cause [Effect]  the soft drink market lends itself well to scale efficiencies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The performance of ADS' banks in turn will be driven by receivable levels and net charge-offs, which are dependent on the business results of its retail partners and the broader economy.",
    "output": "[Cause] receivable levels and net charge-offs [Relation] enable [Effect] The performance of ADS' banks in turn will be driven",
    "gold": "[Cause] the business results of its retail partners and the broader economy [Relation] cause [Effect] The performance of ADS' banks in turn will be driven by receivable levels and net charge-offs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Still, wireless technology continues to evolve, enabling more spectrum to be put to use more efficiently, potentially lowering barriers to entry for firms that have long wanted to enter the business.",
    "output": "[Cause] wireless technology continues to evolve [Relation] enable [Effect] more spectrum to be put to use more efficiently, potentially lowering barriers to entry for firms that have long wanted to enter the business",
    "gold": "[Cause] wireless technology continues to evolve [Relation] enable [Effect] more spectrum to be put to use more efficiently, potentially lowering barriers to entry for firms that have long wanted to enter the business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "WW's recruitment struggles from 2012-15 and again in early 2019 raise questions about the longer-term pricing power of its brand intangible asset.",
    "output": "[Cause] WW's recruitment struggles from 2012-15 and again in early 2019 [Relation] cause [Effect] raise questions about the longer-term pricing power of its brand intangible asset",
    "gold": "[Cause] WW's recruitment struggles from 2012-15 and again in early 2019 [Relation] cause [Effect] raise questions about the longer-term pricing power of its brand intangible asset",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Falling behind the technology curve could impair the firm's pricing power and market share, especially given the potential for increased competition from low-cost Asian firms.",
    "output": "[Cause] Falling behind the technology curve [Relation] prevent [Effect] the firm's pricing power and market share",
    "gold": "[Cause] Falling behind the technology curve [Relation] prevent [Effect]  the firm's pricing power and market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that TC Energy's broad network of crude and natural gas pipeline assets and geographic diversification will serve the company well in the low-oil-price environment, and pipeline expansions in growing regions will fuel EBITDA and cash distribution growth.",
    "output": "[Cause] pipeline expansions in growing regions [Relation] enable [Effect] fuel EBITDA and cash distribution growth",
    "gold": "[Cause] TC Energy's broad network of crude and natural gas pipeline assets and geographic diversification [Relation] cause [Effect] serve the company well in the low-oil-price environment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe that TC Energy's broad network of crude and natural gas pipeline assets and geographic diversification will serve the company well in the low-oil-price environment, and pipeline expansions in growing regions will fuel EBITDA and cash distribution growth.",
    "output": "[Cause] pipeline expansions in growing regions [Relation] enable [Effect] fuel EBITDA and cash distribution growth",
    "gold": "[Cause] pipeline expansions in growing regions [Relation] cause [Effect] fuel EBITDA and cash distribution growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Along these lines, Robinson's migration to large, price-committed customers over the years is a double-edge sword--these shippers provide scheduled freight, but they also boost gross margin risk.",
    "output": "[Cause] Robinson's migration to large, price-committed customers over the years [Relation] cause [Effect] a double-edge sword",
    "gold": "[Cause] Robinson's migration to large, price-committed customers over the years [Relation] enable [Effect] these shippers provide scheduled freight, but they also boost gross margin risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Gross merchandise value per active customer has also increased recently; it was 956 in 2017 compared with 902 in 2015 and experienced further 15% growth in the first half of 2018. As a result of this consumer demand, Farfetch outperformed the online luxury market, as its market share grew from 2% in 2015 to 3.2% in 2017.",
    "output": "[Cause] Gross merchandise value per active customer has also increased recently; it was 956 in 2017 compared with 902 in 2015 and experienced further 15% growth in the first half of 2018 [Relation] cause [Effect] Farfetch outperformed the online luxury market, as its market share grew from 2% in 2015 to 3.2% in 2017",
    "gold": "[Cause] Gross merchandise value per active customer has also increased recently; it was 956 in 2017 compared with 902 in 2015 and experienced further 15% growth in the first half of 2018 [Relation] cause [Effect] Farfetch outperformed the online luxury market, as its market share grew from 2% in 2015 to 3.2% in 2017",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think pursuing large acquisitions instead of repurchases brings its own set of risks since Mettler may overpay to achieve capital return.",
    "output": "[Cause] Mettler may overpay to achieve capital return [Relation] cause [Effect] pursuing large acquisitions instead of repurchases brings its own set of risks",
    "gold": "[Cause]  Mettler may overpay to achieve capital return [Relation] cause [Effect]  pursuing large acquisitions instead of repurchases brings its own set of risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If such partners exit these partnerships in future years, it could have an adverse impact on RingCentral's sales strategy and impair growth.",
    "output": "[Cause] such partners exit these partnerships in future years [Relation] cause [Effect] it could have an adverse impact on RingCentral's sales strategy and impair growth",
    "gold": "[Cause] such partners exit these partnerships in future years [Relation] cause [Effect] it could have an adverse impact on RingCentral's sales strategy and impair growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the economic headwinds brought on by COVID-19 continue to moderate, we expect a strong rebound in demand across the end markets for ON Semiconductor.",
    "output": "[Cause] the economic headwinds brought on by COVID-19 continue to moderate [Relation] cause [Effect] a strong rebound in demand across the end markets for ON Semiconductor",
    "gold": "[Cause] the economic headwinds brought on by COVID-19 continue to moderate [Relation] cause [Effect]  a strong rebound in demand across the end markets for ON Semiconductor",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, the largest banks will be able to spend the most on technology going forward, better optimizing operations, and creating unique data on the largest client bases.",
    "output": "[Cause] spend the most on technology going forward, better optimizing operations, and creating unique data on the largest client bases [Relation] enable [Effect] the largest banks",
    "gold": "[Cause] spend the most on technology going forward, better optimizing operations, and creating unique data on the largest client bases [Relation] enable [Effect] the largest banks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "BBVA is the undoubted market leader in the oligopolistic Mexican banking sector, which has supported its ability to consistently generate ROEs more than 20% in this market.",
    "output": "[Cause] BBVA is the undoubted market leader in the oligopolistic Mexican banking sector [Relation] enable [Effect] consistently generate ROEs more than 20% in this market",
    "gold": "[Cause] consistently generate ROEs more than 20% in this market [Relation] enable [Effect] BBVA is the undoubted market leader in the oligopolistic Mexican banking sector",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "American Tower's international growth has been depressed recently due to consolidation of mobile carriers in India, which has led to high churn.",
    "output": "[Cause] consolidation of mobile carriers in India [Relation] cause [Effect] American Tower's international growth has been depressed recently",
    "gold": "[Cause] consolidation of mobile carriers in India [Relation] cause [Effect] high churn",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "American Tower's international growth has been depressed recently due to consolidation of mobile carriers in India, which has led to high churn.",
    "output": "[Cause] consolidation of mobile carriers in India [Relation] cause [Effect] American Tower's international growth has been depressed recently",
    "gold": "[Cause] consolidation of mobile carriers in India [Relation] cause [Effect] American Tower's international growth has been depressed recently",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cheniere to date has been very efficient from an operating performance perspective (about 112%), thus earning a small margin on the variable fees.",
    "output": "[Cause] Cheniere to date has been very efficient from an operating performance perspective [Relation] enable [Effect] earning a small margin on the variable fees",
    "gold": "[Cause] Cheniere to date has been very efficient from an operating performance perspective [Relation] cause [Effect] earning a small margin on the variable fees",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Rather, accelerating digitization (as customers are effectively forced to become familiar with convenient delivery and click and collect options on account of shelter-in-place orders) stands to shift sales into more costly fulfillment channels.",
    "output": "[Cause] accelerating digitization [Relation] cause [Effect] shift sales into more costly fulfillment channels",
    "gold": "[Cause] customers are effectively forced to become familiar with convenient delivery and click and collect options on account of shelter-in-place orders [Relation] cause [Effect] accelerating digitization",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Rather, accelerating digitization (as customers are effectively forced to become familiar with convenient delivery and click and collect options on account of shelter-in-place orders) stands to shift sales into more costly fulfillment channels.",
    "output": "[Cause] accelerating digitization [Relation] cause [Effect] shift sales into more costly fulfillment channels",
    "gold": "[Cause] accelerating digitization [Relation] cause [Effect] shift sales into more costly fulfillment channels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "New regulations that force CME to take on a larger share of the risk at its clearinghouse or to separate its clearing business out entirely would have a significant impact on the company.",
    "output": "[Cause] New regulations that force CME to take on a larger share of the risk at its clearinghouse or to separate its clearing business out entirely [Relation] cause [Effect] a significant impact on the company",
    "gold": "[Cause] New regulations that force CME to take on a larger share of the risk at its clearinghouse or to separate its clearing business out entirely [Relation] cause [Effect] a significant impact on the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In November, the chain indicated the burger will likely not carry the Beyond brand, but we think Beyond will be a primary supplier, as Beyond helped to develop the product and few firms have enough capacity.",
    "output": "[Cause] Beyond helped to develop the product and few firms have enough capacity [Relation] cause [Effect] Beyond will be a primary supplier",
    "gold": "[Cause]  Beyond helped to develop the product and few firms have enough capacity [Relation] cause [Effect] Beyond will be a primary supplier",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The combination of intensive capital requirements and the uncertainty associated with future projects hampers Suncor's ability to generate sustainable excess returns on invested capital.",
    "output": "[Cause] The combination of intensive capital requirements and the uncertainty associated with future projects [Relation] prevent [Effect] Suncor's ability to generate sustainable excess returns on invested capital",
    "gold": "[Cause] The combination of intensive capital requirements and the uncertainty associated with future projects [Relation] prevent [Effect] Suncor's ability to generate sustainable excess returns on invested capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With SolidWorks software being considered the industry standard for many of its solutions, specifically within product manufacturing, universities are convinced to continue teaching the software in its programs, which drives firms to continue using this industry standard, causing universities to continue to teach the software in their technical curriculums.",
    "output": "[Cause] SolidWorks software being considered the industry standard for many of its solutions [Relation] cause [Effect] universities are convinced to continue teaching the software in its programs",
    "gold": "[Cause]  SolidWorks software being considered the industry standard for many of its solutions [Relation] cause [Effect]  universities are convinced to continue teaching the software in its programs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With SolidWorks software being considered the industry standard for many of its solutions, specifically within product manufacturing, universities are convinced to continue teaching the software in its programs, which drives firms to continue using this industry standard, causing universities to continue to teach the software in their technical curriculums.",
    "output": "[Cause] universities are convinced to continue teaching the software in its programs [Relation] cause [Effect] firms to continue using this industry standard",
    "gold": "[Cause]  firms to continue using this industry standard [Relation] cause [Effect]  universities to continue to teach the software in their technical curriculums",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Like its peers, the firm is focused on engaging users beyond the initial game sale via widening the monetization window by expanding the use of multiplayer options and releasing downloadable content, or DLC.",
    "output": "[Cause] expanding the use of multiplayer options and releasing downloadable content, or DLC [Relation] enable [Effect] expanding the use of multiplayer options",
    "gold": "[Cause]  expanding the use of multiplayer options |  releasing downloadable content, or DLC [Relation] cause [Effect] widening the monetization window",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The Medicare for All scenario debated in the Democratic primaries called for the elimination of the private insurance industry, which would have threatened all of Anthem's operations.",
    "output": "[Cause] The Medicare for All scenario debated in the Democratic primaries called for the elimination of the private insurance industry [Relation] cause [Effect] threatened all of Anthem's operations",
    "gold": "[Cause] The Medicare for All scenario debated in the Democratic primaries called for the elimination of the private insurance industry [Relation] cause [Effect] threatened all of Anthem's operations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the faster-growing higher-margin international businesses will drive margin expansion in the long run, although COVID-19 has delayed the process.",
    "output": "[Cause] the faster-growing higher-margin international businesses [Relation] enable [Effect] margin expansion in the long run",
    "gold": "[Cause] the faster-growing higher-margin international businesses [Relation] cause [Effect]  margin expansion in the long run",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, the sector's poor underlying economics along with changing shopping habits demand continuous investments in technology and automation as well as selective price reductions, along with store remodeling investment programs in regions with intensifying competition (particularly the Southeastern U.S.). As such we do not see material competitive advantages emerging in this new era for traditional grocers, including Ahold Delhaize.",
    "output": "[Cause] the sector's poor underlying economics along with changing shopping habits demand continuous investments in technology and automation as well as selective price reductions, along with store remodeling investment programs in regions with intensifying competition (particularly the Southeastern U.S.) [Relation] cause [Effect] we do not see material competitive advantages emerging in this new era for traditional grocers, including Ahold Delhaize",
    "gold": "[Cause]  the sector's poor underlying economics along with changing shopping habits demand continuous investments in technology and automation as well as selective price reductions, along with store remodeling investment programs in regions with intensifying competition (particularly the Southeastern U.S.) [Relation] cause [Effect]  we do not see material competitive advantages emerging in this new era for traditional grocers, including Ahold Delhaize",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We now forecast RH's terminal operating margin at 22.2% (21.6% prior), reflecting the increasing possibility that the company's evolution to an integrated luxury brand could offer the ability to tap into a larger total addressable market, rather than solely a furniture-seeking cohort. As such, we believe the company can capture higher gross margin metrics ahead, set for 46%-47% over our forecast, versus the 46% we believe RH can capture in 2020 (and the 41% RH reported in 2019).",
    "output": "[Cause] We now forecast RH's terminal operating margin at 22.2% (21.6% prior), reflecting the increasing possibility that the company's evolution to an integrated luxury brand could offer the ability to tap into a larger total addressable market, rather than solely a furniture-seeking cohort [Relation] cause [Effect] the company can capture higher gross margin metrics ahead, set for 46%-47% over our forecast, versus the 46% we believe RH can capture in 2020 (and the 41% RH reported in 2019)",
    "gold": "[Cause] We now forecast RH's terminal operating margin at 22.2% (21.6% prior), reflecting the increasing possibility that the company's evolution to an integrated luxury brand could offer the ability to tap into a larger total addressable market, rather than solely a furniture-seeking cohort [Relation] cause [Effect] the company can capture higher gross margin metrics ahead, set for 46%-47% over our forecast, versus the 46% we believe RH can capture in 2020 (and the 41% RH reported in 2019)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Charter's EBITDA margin has been stuck in the 36-37% range since the 2016 mergers closed, a gap that is likely explained by differentials in pricing.",
    "output": "[Cause] differentials in pricing [Relation] cause [Effect] Charter's EBITDA margin has been stuck in the 36-37% range since the 2016 mergers closed",
    "gold": "[Cause] differentials in pricing [Relation] cause [Effect] Charter's EBITDA margin has been stuck in the 36-37% range since the 2016 mergers closed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, we note that ROICs have declined in recent years as regular acquisitions have added goodwill to the firm's capital base, and there is a potential risk that poor execution of its M&A strategy could depress Nordson's future ROICs.",
    "output": "[Cause] regular acquisitions have added goodwill to the firm's capital base [Relation] cause [Effect] ROICs have declined in recent years",
    "gold": "[Cause] ROICs have declined in recent years as regular acquisitions have added goodwill to the firm's capital base, and there is a potential risk that poor execution of its M&A strategy [Relation] cause [Effect] depress Nordson's future ROICs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "First, in May 2016, the FDA established a reference dietary intake of 550 milligrams for foods and supplements that include choline, providing the nutrient with greater visibility, which should lead to higher consumption rates over time.",
    "output": "[Cause] providing the nutrient with greater visibility [Relation] cause [Effect] higher consumption rates over time",
    "gold": "[Cause] providing the nutrient with greater visibility [Relation] cause [Effect] higher consumption rates over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As such, we still expect McCormick to spend about 6% of sales--$400 million annually--toward research, development, and marketing to help it win at the shelf.",
    "output": "[Cause] McCormick to spend about 6% of sales--$400 million annually--toward research, development, and marketing [Relation] enable [Effect] win at the shelf",
    "gold": "[Cause] McCormick to spend about 6% of sales--$400 million annually--toward research, development, and marketing [Relation] enable [Effect]  win at the shelf",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Excluding pandemic-related production disruption in 2020-21, we expect gross margins to improve by about 35 basis points annually over the next several years, driven by improved product mix and supply chain cost savings.",
    "output": "[Cause] improved product mix and supply chain cost savings [Relation] cause [Effect] gross margins to improve by about 35 basis points annually over the next several years",
    "gold": "[Cause] improved product mix and supply chain cost savings [Relation] cause [Effect] gross margins to improve by about 35 basis points annually over the next several years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the new hydroxide capacity comes on line before the new carbonate capacity, Livent will have to source a larger portion of its carbonate on the open market, which could greatly reduce its profitability until its carbonate production comes on line.",
    "output": "[Cause] the new hydroxide capacity comes on line before the new carbonate capacity [Relation] cause [Effect] Livent will have to source a larger portion of its carbonate on the open market",
    "gold": "[Cause] the new hydroxide capacity comes on line before the new carbonate capacity [Relation] cause [Effect]  Livent will have to source a larger portion of its carbonate on the open market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company used a portion of the proceeds to pay down approximately $2 billion of debt, which allowed it to reach its targeted gross debt/EBITDA ratio of below 3 times.",
    "output": "[Cause] The company used a portion of the proceeds to pay down approximately $2 billion of debt [Relation] enable [Effect] reached its targeted gross debt/EBITDA ratio of below 3 times",
    "gold": "[Cause] The company used a portion of the proceeds to pay down approximately $2 billion of debt [Relation] cause [Effect] reach its targeted gross debt/EBITDA ratio of below 3 times",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Turning to technology, we believe that Domino's relentless pursuit of core process automation and data-driven decision-making strengthen its brand, with the firm's competitive advantage built around a database that features 20 years of customer data.",
    "output": "[Cause] Domino's relentless pursuit of core process automation and data-driven decision-making [Relation] enable [Effect] strengthen its brand",
    "gold": "[Cause] the firm's competitive advantage built around a database that features 20 years of customer data [Relation] cause [Effect]  Domino's relentless pursuit of core process automation and data-driven decision-making strengthen its brand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, both Adcetris and Padcev tackle difficult-to-treat areas that are unlikely to see real competitors any time soon, based on current pipelines.",
    "output": "[Cause] current pipelines [Relation] cause [Effect] unlikely to see real competitors any time soon",
    "gold": "[Cause] both Adcetris and Padcev tackle difficult-to-treat areas [Relation] enable [Effect] are unlikely to see real competitors any time soon",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Missing a court date or client deadline, for example, could subject lawyers to professional sanctions, reputational harm, and malpractice claims from either fellow members of the bar or disgruntled clients.",
    "output": "[Cause] Missing a court date or client deadline [Relation] cause [Effect] subject lawyers to professional sanctions, reputational harm, and malpractice claims from either fellow members of the bar or disgruntled clients",
    "gold": "[Cause] Missing a court date or client deadline [Relation] cause [Effect] subject lawyers to professional sanctions, reputational harm, and malpractice claims from either fellow members of the bar or disgruntled clients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The COVID-19 pandemic reduced customer traffic at Ferguson's blended branches as contractor work slowed due to a reluctance to have contractors enter homes, but we expect this trend will reverse as the virus abates.",
    "output": "[Cause] a reluctance to have contractors enter homes [Relation] cause [Effect] contractor work slowed",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] reduced customer traffic at Ferguson's blended branches",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The COVID-19 pandemic reduced customer traffic at Ferguson's blended branches as contractor work slowed due to a reluctance to have contractors enter homes, but we expect this trend will reverse as the virus abates.",
    "output": "[Cause] a reluctance to have contractors enter homes [Relation] cause [Effect] contractor work slowed",
    "gold": "[Cause] a reluctance to have contractors enter homes [Relation] cause [Effect] contractor work slowed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Adjusted EBITDA margin should near 48% by fiscal 2025 from 44.7% in fiscal 2020 as cost leverage builds.",
    "output": "[Cause] cost leverage builds [Relation] cause [Effect] Adjusted EBITDA margin should near 48% by fiscal 2025 from 44.7% in fiscal 2020",
    "gold": "[Cause] cost leverage builds [Relation] cause [Effect] Adjusted EBITDA margin should near 48% by fiscal 2025 from 44.7% in fiscal 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Such mandates can squeeze bill-pay spreads if Manpower fails to either anticipate key changes in employment laws or pass along rising costs to clients on a timely basis.",
    "output": "[Cause] Manpower fails to either anticipate key changes in employment laws or pass along rising costs to clients on a timely basis [Relation] cause [Effect] Such mandates can squeeze bill-pay spreads",
    "gold": "[Cause] mandates [Relation] cause [Effect] squeeze bill-pay spreads",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Automakers work closely with suppliers because each part is designed for specific vehicle models. As such, automakers rarely change suppliers during a vehicle model's life cycle, which typically spans 6-13 years, including development.",
    "output": "[Cause] Automakers work closely with suppliers because each part is designed for specific vehicle models [Relation] cause [Effect] automakers rarely change suppliers during a vehicle model's life cycle, which typically spans 6-13 years, including development",
    "gold": "[Cause] Automakers work closely with suppliers because each part is designed for specific vehicle models [Relation] cause [Effect]  automakers rarely change suppliers during a vehicle model's life cycle, which typically spans 6-13 years, including development",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our medium-term outlook incorporates improvements to the supply chain, inventory management, and technology, bolstered by further investment in those categories.",
    "output": "[Cause] further investment in those categories [Relation] enable [Effect] Our medium-term outlook incorporates improvements to the supply chain, inventory management, and technology, bolstered",
    "gold": "[Cause] further investment in those categories [Relation] enable [Effect] Our medium-term outlook incorporates improvements to the supply chain, inventory management, and technology, bolstered",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A Gulf Coast hurricane or severe winter ice storm can cause billions of dollars of damage and reduce customer load for years.",
    "output": "[Cause] A Gulf Coast hurricane or severe winter ice storm [Relation] cause [Effect] billions of dollars of damage and reduce customer load for years",
    "gold": "[Cause] A Gulf Coast hurricane or severe winter ice storm [Relation] cause [Effect] billions of dollars of damage and reduce customer load for years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Still, because energy drinks cost more than soft drinks and some other noncarbonates, these activities yield solid dollar profits and free cash flow.",
    "output": "[Cause] energy drinks cost more than soft drinks and some other noncarbonates [Relation] cause [Effect] these activities yield solid dollar profits and free cash flow",
    "gold": "[Cause]  energy drinks cost more than soft drinks and some other noncarbonates [Relation] cause [Effect] these activities yield solid dollar profits and free cash flow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Coloplast's urology segment could offer growth potential and cross-selling opportunities. Thus far, the firm has been more successful in the United States with its slings, kidney stone management products, and inflatable penile implants than in the underpenetrated European market.",
    "output": "[Cause] Coloplast's urology segment could offer growth potential and cross-selling opportunities [Relation] cause [Effect] the firm has been more successful in the United States with its slings, kidney stone management products, and inflatable penile implants than in the underpenetrated European market",
    "gold": "[Cause] the firm has been more successful in the United States with its slings, kidney stone management products, and inflatable penile implants than in the underpenetrated European market [Relation] enable [Effect] Coloplast's urology segment could offer growth potential and cross-selling opportunities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As the firm is the largest of only three food-service companies with global capabilities, clients have little option but to choose Compass, unless they want the additional inconvenience of dealing with multiple operators across their networks.",
    "output": "[Cause] the firm is the largest of only three food-service companies with global capabilities [Relation] cause [Effect] clients have little option but to choose Compass",
    "gold": "[Cause] the firm is the largest of only three food-service companies with global capabilities [Relation] cause [Effect] clients have little option but to choose Compass",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It also crafts many of its own proprietary flavors and concentrates, which can yield cost benefits by removing certain intermediaries (and their accompanying margins) from the supply chain.",
    "output": "[Cause] removing certain intermediaries (and their accompanying margins) from the supply chain [Relation] enable [Effect] yield cost benefits",
    "gold": "[Cause] removing certain intermediaries (and their accompanying margins) from the supply chain [Relation] enable [Effect] yield cost benefits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "AMN's staffing capabilities span the U.S., versus its primarily regional competitors, and is therefore able to find and attract top-quality staff quickly in either local or travel nurse arrangements for either short- or long-term placements.",
    "output": "[Cause] AMN's staffing capabilities span the U.S., versus its primarily regional competitors [Relation] enable [Effect] find and attract top-quality staff quickly in either local or travel nurse arrangements for either short- or long-term placements",
    "gold": "[Cause] AMN's staffing capabilities span the U.S [Relation] enable [Effect] versus its primarily regional competitors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This rebound pushed Echo's gross revenue up 15% despite second-quarter declines, though falling gross margins (net revenue/gross revenue) from spiking capacity costs limited net revenue gains to 2%.",
    "output": "[Cause] This rebound [Relation] enable [Effect] Echo's gross revenue up 15% despite second-quarter declines",
    "gold": "[Cause] though falling gross margins (net revenue/gross revenue) from spiking capacity costs [Relation] cause [Effect] limited net revenue gains to 2%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To its credit, Dish recognized the shifting television landscape early, sharply cutting investment in customer acquisition and focusing its efforts on more rural areas where competitive alternatives are less available.",
    "output": "[Cause] sharply cutting investment in customer acquisition and focusing its efforts on more rural areas where competitive alternatives are less available [Relation] cause [Effect] Dish recognized the shifting television landscape early",
    "gold": "[Cause] competitive alternatives are less available [Relation] cause [Effect]  sharply cutting investment in customer acquisition and focusing its efforts on more rural areas",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although the per-item cost is low, Dollar Tree capitalizes on its often smaller package sizes' higher profitability, posting mid-30s segment gross margins that outclass Dollar General's low 30s and Target's high 20s.",
    "output": "[Cause] its often smaller package sizes' higher profitability [Relation] enable [Effect] posting mid-30s segment gross margins that outclass Dollar General's low 30s and Target's high 20s",
    "gold": "[Cause]  its often smaller package sizes' [Relation] enable [Effect] higher profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With roughly the same number of mobile postpaid customers as Telefonica (14 million versus Telefonica's 15.4 million) and a significant fixed-line presence, Orange's cash flow is only one sixth that of Telefonica's. This is mainly explained by Orange's higher mobile churn rates, weaker fiber position and lower ARPU (convergent ARPU for Telefonica is EUR 92 versus EUR 55 for Orange).",
    "output": "[Cause] With roughly the same number of mobile postpaid customers as Telefonica (14 million versus Telefonica's 15.4 million) and a significant fixed-line presence, Orange's cash flow is only one sixth that of Telefonica's [Relation] cause [Effect] Orange's higher mobile churn rates, weaker fiber position and lower ARPU (convergent ARPU for Telefonica is EUR 92 versus EUR 55 for Orange)",
    "gold": "[Cause] With roughly the same number of mobile postpaid customers as Telefonica (14 million versus Telefonica's 15.4 million) and a significant fixed-line presence, Orange's cash flow is only one sixth that of Telefonica's [Relation] cause [Effect] Orange's higher mobile churn rates, weaker fiber position and lower ARPU (convergent ARPU for Telefonica is EUR 92 versus EUR 55 for Orange)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While many open-source software companies have suffered from Amazon reselling their software on their own platform for a profit (for example, Elastic was repackaged into Amazon Elasticsearch), MongoDB is protected against this risk, as their software license bans Amazon from reselling their software on AWS.",
    "output": "[Cause] Amazon reselling their software on their own platform for a profit [Relation] cause [Effect] many open-source software companies have suffered",
    "gold": "[Cause] Amazon reselling their software on their own platform for a profit [Relation] cause [Effect] this risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While many open-source software companies have suffered from Amazon reselling their software on their own platform for a profit (for example, Elastic was repackaged into Amazon Elasticsearch), MongoDB is protected against this risk, as their software license bans Amazon from reselling their software on AWS.",
    "output": "[Cause] their software license bans Amazon from reselling their software on AWS [Relation] cause [Effect] MongoDB is protected against this risk",
    "gold": "[Cause] their software license bans Amazon from reselling their software on AWS [Relation] cause [Effect] MongoDB is protected against this risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the firm has seen major growth in interconnection revenue recently, as more enterprises are co-locating and connecting with their cloud providers, it does not operate any major Internet exchanges, and its properties are less network-dense than top competitors, so we think little differentiates its offering.",
    "output": "[Cause] more enterprises are co-locating and connecting with their cloud providers [Relation] cause [Effect] the firm has seen major growth in interconnection revenue recently",
    "gold": "[Cause] more enterprises are co-locating and connecting with their cloud providers [Relation] enable [Effect] the firm has seen major growth in interconnection revenue recently",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the firm has seen major growth in interconnection revenue recently, as more enterprises are co-locating and connecting with their cloud providers, it does not operate any major Internet exchanges, and its properties are less network-dense than top competitors, so we think little differentiates its offering.",
    "output": "[Cause] it does not operate any major Internet exchanges, and its properties are less network-dense than top competitors [Relation] cause [Effect] little differentiates its offering",
    "gold": "[Cause]  it does not operate any major Internet exchanges, and its properties are less network-dense than top competitors [Relation] cause [Effect] little differentiates its offering",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe this increase in revenue and attendance also drives additional concession revenue, increasing owner interest and retention, thus creating a network effect.",
    "output": "[Cause] increase in revenue and attendance [Relation] cause [Effect] additional concession revenue",
    "gold": "[Cause] this increase in revenue and attendance also drives additional concession revenue [Relation] cause [Effect] increasing owner interest and retention",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe this increase in revenue and attendance also drives additional concession revenue, increasing owner interest and retention, thus creating a network effect.",
    "output": "[Cause] increasing owner interest and retention [Relation] cause [Effect] creating a network effect",
    "gold": "[Cause] increasing owner interest and retention [Relation] cause [Effect] creating a network effect",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over our explicit forecast period, we assume robust growth from interventional cardiology, CRM, and neuromodulation through the midterm as pipeline products come to fruition.",
    "output": "[Cause] pipeline products come to fruition [Relation] cause [Effect] robust growth from interventional cardiology, CRM, and neuromodulation through the midterm",
    "gold": "[Cause] pipeline products come to fruition [Relation] cause [Effect] robust growth from interventional cardiology, CRM, and neuromodulation through the midterm",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Simply put, to replicate a network of planes, trucks, sorting facilities, rights to fly, and skilled employees, a new entrant would face massive investment before it could win a critical volume of customers from the large existing providers.",
    "output": "[Cause] replicate a network of planes, trucks, sorting facilities, rights to fly, and skilled employees [Relation] cause [Effect] a new entrant would face massive investment before it could win a critical volume of customers from the large existing providers",
    "gold": "[Cause]  replicate a network of planes, trucks, sorting facilities, rights to fly, and skilled employees [Relation] cause [Effect] a new entrant would face massive investment before it could win a critical volume of customers from the large existing providers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, Snowflake is at risk of compromising the data on its platform either through data breaches or inability for compliance tools to do their job.",
    "output": "[Cause] data breaches or inability for compliance tools to do their job [Relation] cause [Effect] Snowflake is at risk of compromising the data on its platform",
    "gold": "[Cause] data breaches or inability for compliance tools to do their job [Relation] cause [Effect]  Snowflake is at risk of compromising the data on its platform",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate minimal variations in gross margins from even to odd years as growth in political media buying during election years may push prices higher, which could lower demand from the commercial side.",
    "output": "[Cause] growth in political media buying during election years may push prices higher [Relation] cause [Effect] minimal variations in gross margins from even to odd years",
    "gold": "[Cause] growth in political media buying during election years may push prices higher [Relation] cause [Effect]  minimal variations in gross margins from even to odd years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate minimal variations in gross margins from even to odd years as growth in political media buying during election years may push prices higher, which could lower demand from the commercial side.",
    "output": "[Cause] growth in political media buying during election years may push prices higher [Relation] cause [Effect] minimal variations in gross margins from even to odd years",
    "gold": "[Cause] We anticipate minimal variations in gross margins from even to odd years [Relation] cause [Effect] lower demand from the commercial side",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, with 10 existing hospitality locations and the expansion of the hospitality footprint in existing and new locations (including guesthouses in New York City and Aspen, among other locations to open in 2021 and beyond), we expect foot traffic could rise at RH's brick-and-mortar locations.",
    "output": "[Cause] 10 existing hospitality locations and the expansion of the hospitality footprint in existing and new locations (including guesthouses in New York City and Aspen, among other locations to open in 2021 and beyond) [Relation] cause [Effect] foot traffic could rise at RH's brick-and-mortar locations",
    "gold": "[Cause] 10 existing hospitality locations and the expansion of the hospitality footprint in existing and new locations (including guesthouses in New York City and Aspen, among other locations to open in 2021 and beyond) [Relation] enable [Effect] foot traffic could rise at RH's brick-and-mortar locations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Vendors have considerably more power in their relationships with smaller chains and independent stores, leaving such sellers at a marked working capital disadvantage that exacerbates the barriers to encroachment upon the national retailers' availability advantage.",
    "output": "[Cause] Vendors have considerably more power in their relationships with smaller chains and independent stores [Relation] cause [Effect] leaving such sellers at a marked working capital disadvantage",
    "gold": "[Cause] such sellers at a marked working capital disadvantage [Relation] cause [Effect] exacerbates the barriers to encroachment upon the national retailers' availability advantage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although demand is poised to increase significantly, a commensurate increase in supply should ensure that market conditions return to midcycle conditions over the next five to 10 years.",
    "output": "[Cause] a commensurate increase in supply [Relation] enable [Effect] market conditions return to midcycle conditions over the next five to 10 years",
    "gold": "[Cause] market conditions return to midcycle conditions over the next five to 10 years [Relation] cause [Effect] a commensurate increase in supply",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The brand advantage is evident by its sustainable unit growth demand from third-party owners, dominant scale and contract length of managed properties, a leading loyalty and online presence, and industry-leading market share.",
    "output": "[Cause] its sustainable unit growth demand from third-party owners, dominant scale and contract length of managed properties, a leading loyalty and online presence, and industry-leading market share [Relation] enable [Effect] The brand advantage",
    "gold": "[Cause] its sustainable unit growth demand from third-party owners, dominant scale and contract length of managed properties, a leading loyalty and online presence, and industry-leading market share [Relation] cause [Effect] The brand advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, we estimate that self-storage facilities can operate profitably with occupancy rates as low as 30%, promoting intense price competition among providers.",
    "output": "[Cause] self-storage facilities can operate profitably with occupancy rates as low as 30% [Relation] enable [Effect] promoting intense price competition among providers",
    "gold": "[Cause] self-storage facilities can operate profitably with occupancy rates as low as 30% [Relation] cause [Effect]  promoting intense price competition among providers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This type of asset is very difficult to replicate due to the complexity and richness of Enterprise's system, and the few producers that do undertake marketing activities only focus on the relatively few basins they operate in versus the entirety of the U.S.",
    "output": "[Cause] the complexity and richness of Enterprise's system [Relation] cause [Effect] This type of asset is very difficult to replicate",
    "gold": "[Cause] This type of asset is very difficult to replicate due to the complexity and richness of Enterprise's system [Relation] cause [Effect] the few producers that do undertake marketing activities only focus on the relatively few basins they operate in versus the entirety of the U.S.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "BP is transitioning from an integrated oil company to an integrated energy company to achieve its emission reduction targets and position itself for the coming energy transition while growing EBIDA and improving returns.",
    "output": "[Cause] BP is transitioning from an integrated oil company to an integrated energy company [Relation] enable [Effect] achieve its emission reduction targets and position itself for the coming energy transition while growing EBIDA and improving returns",
    "gold": "[Cause] BP is transitioning from an integrated oil company to an integrated energy company [Relation] enable [Effect] achieve its emission reduction targets and position itself for the coming energy transition while growing EBIDA and improving returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the more modern approach can allow Fastly to continue taking share from legacy CDN providers with a lower-cost model, by way of a smaller geographic footprint.",
    "output": "[Cause] the more modern approach [Relation] enable [Effect] Fastly to continue taking share from legacy CDN providers with a lower-cost model",
    "gold": "[Cause] the more modern approach [Relation] enable [Effect] Fastly to continue taking share from legacy CDN providers with a lower-cost model",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The pipeline continues operating as legal challenges move through the courts, but even a temporary shutdown could lead to a significant drop in earnings and force management to re-evaluate the distribution.",
    "output": "[Cause] legal challenges move through the courts [Relation] cause [Effect] The pipeline continues operating",
    "gold": "[Cause] a temporary shutdown [Relation] cause [Effect] a significant drop in earnings",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the size of Nasdaq's trading operations, the exchange possibly has the deepest data set of security and transaction information.",
    "output": "[Cause] the size of Nasdaq's trading operations [Relation] cause [Effect] the exchange possibly has the deepest data set of security and transaction information",
    "gold": "[Cause]  the size of Nasdaq's trading operations [Relation] enable [Effect]  the exchange possibly has the deepest data set of security and transaction information",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With more workloads being offloaded into public clouds, customers may prefer to rely on the security that the hyperscale cloud providers offer natively; in addition, the hyperscale cloud providers could start making inroads into the cybersecurity market by offering solutions that are tangential to their public cloud services.",
    "output": "[Cause] more workloads being offloaded into public clouds [Relation] cause [Effect] customers may prefer to rely on the security that the hyperscale cloud providers offer natively",
    "gold": "[Cause]  more workloads being offloaded into public clouds [Relation] cause [Effect] customers may prefer to rely on the security that the hyperscale cloud providers offer natively",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With more workloads being offloaded into public clouds, customers may prefer to rely on the security that the hyperscale cloud providers offer natively; in addition, the hyperscale cloud providers could start making inroads into the cybersecurity market by offering solutions that are tangential to their public cloud services.",
    "output": "[Cause] offering solutions that are tangential to their public cloud services [Relation] enable [Effect] the hyperscale cloud providers could start making inroads into the cybersecurity market",
    "gold": "[Cause]  offering solutions that are tangential to their public cloud services [Relation] enable [Effect]  the hyperscale cloud providers could start making inroads into the cybersecurity market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite its larger size and first-mover advantages, competitors could continue to win market share from TI or force the company to defend market share through discounting and sacrificing margins to maintain its mobile subscriber base.",
    "output": "[Cause] discounting and sacrificing margins to maintain its mobile subscriber base [Relation] enable [Effect] competitors could continue to win market share from TI or force the company to defend market share",
    "gold": "[Cause] discounting and sacrificing margins to maintain its mobile subscriber base [Relation] enable [Effect] competitors could continue to win market share from TI or force the company to defend market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, declining use of landline phones and Lumen's subpar broadband speeds leave us believing that the company's consumer business will continue the contraction it has exhibited for much of the last decade.",
    "output": "[Cause] declining use of landline phones and Lumen's subpar broadband speeds [Relation] cause [Effect] the company's consumer business will continue the contraction it has exhibited for much of the last decade",
    "gold": "[Cause] declining use of landline phones and Lumen's subpar broadband speeds [Relation] cause [Effect] the company's consumer business will continue the contraction it has exhibited for much of the last decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're confident in increasing attach rates, as we're encouraged by Workday's recent 30% attach rate in its financials suite and 18% attach rate for planning products (both percentages as of October 2019).",
    "output": "[Cause] Workday's recent 30% attach rate in its financials suite and 18% attach rate for planning products [Relation] cause [Effect] We're confident in increasing attach rates",
    "gold": "[Cause] Workday's recent 30% attach rate in its financials suite and 18% attach rate for planning products [Relation] cause [Effect] We're confident in increasing attach rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The list price of Novo's oral GLP-1 Rybelsus is similar to injectable GLP-1 therapies, but we think net pricing is likely to move lower, as significant pricing pressure and competition has kept pricing for other oral therapies at around $2,000 per year.",
    "output": "[Cause] significant pricing pressure and competition has kept pricing for other oral therapies at around $2,000 per year [Relation] cause [Effect] net pricing is likely to move lower",
    "gold": "[Cause] net pricing is likely to move lower [Relation] cause [Effect] ignificant pricing pressure and competition has kept pricing for other oral therapies at around $2,000 per year",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As secular and technological trends drive increased safety, emissions, and efficiency standards, we think Sensata Technologies is poised for solid growth and profitability.",
    "output": "[Cause] secular and technological trends drive increased safety, emissions, and efficiency standards [Relation] cause [Effect] Sensata Technologies is poised for solid growth and profitability",
    "gold": "[Cause] secular and technological trends drive increased safety, emissions, and efficiency standards [Relation] cause [Effect]  Sensata Technologies is poised for solid growth and profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cenovus' acquisition of the remaining interest in the Foster Creek Christina Lake Partnership provides the company with additional opportunities to showcase its industry-leading cost structure for years to come.",
    "output": "[Cause] Cenovus' acquisition of the remaining interest in the Foster Creek Christina Lake Partnership [Relation] enable [Effect] the company with additional opportunities to showcase its industry-leading cost structure for years to come",
    "gold": "[Cause] Cenovus' acquisition of the remaining interest [Relation] enable [Effect] provides the company with additional opportunities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In recent years, Group 1 continued to generate better economies of scale than in prerecession years, thus upside potential to our valuation exists should the company keep improving operating margin or SG&A expenses.",
    "output": "[Cause] Group 1 continued to generate better economies of scale than in prerecession years [Relation] cause [Effect] upside potential to our valuation exists should the company keep improving operating margin or SG&A expenses",
    "gold": "[Cause] the company keep improving operating margin or SG&A expenses [Relation] cause [Effect] upside potential to our valuation exists",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Operating margins (using net revenue) in 2020 were 53%, and margins have generally trended upward over time due to the scalability of the business.",
    "output": "[Cause] the scalability of the business [Relation] cause [Effect] margins have generally trended upward over time",
    "gold": "[Cause] the scalability of the business [Relation] cause [Effect] margins have generally trended upward over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Similar to the two other largest distributors, the company has grown to such a significant size that regular acquisitions are likely to be necessary to supplement growth, in order to offset the overall market deceleration due to the slower growth pharmaceutical drug spend.",
    "output": "[Cause] the slower growth pharmaceutical drug spend [Relation] cause [Effect] offset the overall market deceleration",
    "gold": "[Cause]  regular acquisitions [Relation] enable [Effect] offset the overall market deceleration d",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Banco de Chile finished 2019 with an efficiency ratio of 45.2%, which improved markedly in the first quarter as a result of a 2019 voluntary severance program and the closure of a handful of branches.",
    "output": "[Cause] a 2019 voluntary severance program and the closure of a handful of branches [Relation] cause [Effect] improved markedly in the first quarter",
    "gold": "[Cause] Banco de Chile finished 2019 with an efficiency ratio of 45.2%, [Relation] cause [Effect] improved markedly in the first quarter as a result of a 2019 voluntary severance program and the closure of a handful of branches.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The quality of the firm's network is almost always in the top two in a given country, allowing it to compete more on quality than on price.",
    "output": "[Cause] The quality of the firm's network is almost always in the top two in a given country [Relation] enable [Effect] it to compete more on quality than on price",
    "gold": "[Cause] The quality of the firm's network is almost always in the top two in a given country [Relation] enable [Effect] it to compete more on quality than on price",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As such, we've been big proponents of consolidation among the U.S.-based asset managers the past several years, with firms expected to pursue scale as a means of offsetting the impact of fee and margin compression (driven by the growth of low-cost passive products).",
    "output": "[Cause] firms expected to pursue scale [Relation] enable [Effect] offsetting the impact of fee and margin compression",
    "gold": "[Cause] firms expected to pursue scale [Relation] cause [Effect] offsetting the impact of fee and margin compression",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the acquisition of Pinnacle Foods has caused Conagra's consolidated ROICs including goodwill to fall from 10% to around 8%, given the lower returns of the legacy Pinnacle business and the addition of goodwill.",
    "output": "[Cause] the lower returns of the legacy Pinnacle business and the addition of goodwill [Relation] cause [Effect] the acquisition of Pinnacle Foods has caused Conagra's consolidated ROICs including goodwill to fall from 10% to around 8%",
    "gold": "[Cause] the lower returns of the legacy Pinnacle business and the addition of goodwill [Relation] cause [Effect] the acquisition of Pinnacle Foods has caused Conagra's consolidated ROICs including goodwill to fall from 10% to around 8%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the company does not rely on a single product and is also continuously developing new products. As a result, while we see a moderate probability that Ecolab could see one or more of its cleaning chemicals banned, we see a low materiality to the company.",
    "output": "[Cause] the company does not rely on a single product and is also continuously developing new products [Relation] cause [Effect] while we see a moderate probability that Ecolab could see one or more of its cleaning chemicals banned, we see a low materiality to the company",
    "gold": "[Cause]  the company does not rely on a single product and is also continuously developing new products [Relation] cause [Effect] while we see a moderate probability that Ecolab could see one or more of its cleaning chemicals banned, we see a low materiality to the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "All of ICU's consumable products are manufactured, using high capacity molds and fully automated assembly lines, in its Salt Lake City facility, with these consolidated, high capacity, and efficient plant operations underpinning ICU's cost advantage in this segment.",
    "output": "[Cause] these consolidated, high capacity, and efficient plant operations [Relation] enable [Effect] ICU's cost advantage in this segment",
    "gold": "[Cause]  these consolidated, high capacity, and efficient plant operations [Relation] enable [Effect]  ICU's cost advantage in this segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further out, we envision Cummins' electric powertrains offerings as having few advantages over alternatives given the head start competitors have established.",
    "output": "[Cause] the head start competitors have established [Relation] cause [Effect] Cummins' electric powertrains offerings as having few advantages over alternatives",
    "gold": "[Cause] the head start competitors have established [Relation] cause [Effect] Cummins' electric powertrains offerings as having few advantages over alternatives",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "High-quality anchors, in line tenants, and entertainment options draw significant foot traffic to a retail, which makes placing a store in that location attractive to other retailers as their store would benefit from the large number of people already heading to the shopping center.",
    "output": "[Cause] their store would benefit from the large number of people already heading to the shopping center [Relation] cause [Effect] placing a store in that location attractive to other retailers",
    "gold": "[Cause] High-quality anchors, in line tenants, and entertainment options draw significant foot traffic to a retail [Relation] enable [Effect] placing a store in that location attractive to other retailers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "High-quality anchors, in line tenants, and entertainment options draw significant foot traffic to a retail, which makes placing a store in that location attractive to other retailers as their store would benefit from the large number of people already heading to the shopping center.",
    "output": "[Cause] their store would benefit from the large number of people already heading to the shopping center [Relation] cause [Effect] placing a store in that location attractive to other retailers",
    "gold": "[Cause] their store would benefit from the large number of people already heading to the shopping center [Relation] cause [Effect] placing a store in that location attractive to other retailers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Service provider/system integrator sales imply a deep commitment from customers, in our view, as they are reorienting their infrastructure for network and application access.",
    "output": "[Cause] they are reorienting their infrastructure for network and application access [Relation] cause [Effect] Service provider/system integrator sales imply a deep commitment from customers",
    "gold": "[Cause] they are reorienting their infrastructure for network and application access [Relation] cause [Effect] Service provider/system integrator sales imply a deep commitment from customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think F5's consolidated approach for application and networking traffic flow across the entire network will remain in strong demand as businesses expand their creation and consumption of applications and data.",
    "output": "[Cause] businesses expand their creation and consumption of applications and data [Relation] cause [Effect] F5's consolidated approach for application and networking traffic flow across the entire network will remain in strong demand",
    "gold": "[Cause]  businesses expand their creation and consumption of applications and data [Relation] cause [Effect] F5's consolidated approach for application and networking traffic flow across the entire network will remain in strong demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project Telus' revenue to grow by 3% in 2020, as recent TI acquisitions and strength in the wireline business more than offset wireless revenue declines.",
    "output": "[Cause] recent TI acquisitions and strength in the wireline business more than offset wireless revenue declines [Relation] cause [Effect] We project Telus' revenue to grow by 3% in 2020",
    "gold": "[Cause] recent TI acquisitions and strength in the wireline business more than offset wireless revenue declines [Relation] cause [Effect] We project Telus' revenue to grow by 3% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, having a holistic approach to security is crucial for enterprises, as these customers seek a consolidated approach for cybersecurity to lower the complexity of managing multiple vendors simultaneously.",
    "output": "[Cause] these customers seek a consolidated approach for cybersecurity to lower the complexity of managing multiple vendors simultaneously [Relation] cause [Effect] having a holistic approach to security is crucial for enterprises",
    "gold": "[Cause]  these customers seek a consolidated approach for cybersecurity to lower the complexity of managing multiple vendors simultaneously [Relation] cause [Effect]  having a holistic approach to security is crucial for enterprises",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Like its packaged food peers, Kraft Heinz has benefited from consumers' penchant for eating at home, with 85% of its sales driven through the retail channel.",
    "output": "[Cause] consumers' penchant for eating at home [Relation] enable [Effect] Kraft Heinz has benefited",
    "gold": "[Cause] consumers' penchant for eating at home [Relation] cause [Effect] 85% of its sales driven through the retail channel",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Laredo's core assets are primarily located in the eastern fringe of the Midland Basin, which puts it at a relative disadvantage.",
    "output": "[Cause] Laredo's core assets are primarily located in the eastern fringe of the Midland Basin [Relation] cause [Effect] puts it at a relative disadvantage",
    "gold": "[Cause] Laredo's core assets are primarily located in the eastern fringe of the Midland Basin [Relation] enable [Effect] puts it at a relative disadvantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This is a favorable dynamic for Johnson Controls, which is well-positioned to capture upgrade, retrofit, and reconfiguration spending from its installed base.",
    "output": "[Cause] well-positioned to capture upgrade, retrofit, and reconfiguration spending from its installed base [Relation] cause [Effect] This is a favorable dynamic for Johnson Controls",
    "gold": "[Cause] well-positioned to capture upgrade, retrofit, and reconfiguration spending from its installed base [Relation] enable [Effect] This is a favorable dynamic for Johnson Controls",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Second, the shelter-in-place orders related to COVID-19 caused massive layoffs in 2020, and if those unemployed people lose their health insurance for a sustained period, the employer-based insurance rolls could fall further.",
    "output": "[Cause] the shelter-in-place orders related to COVID-19 [Relation] cause [Effect] massive layoffs in 2020",
    "gold": "[Cause] the shelter-in-place orders related to COVID-19 caused massive layoffs in 2020, and if those unemployed people lose their health insurance for a sustained period [Relation] cause [Effect] the employer-based insurance rolls could fall further",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Goldman Sachs' strategic plan that it laid out at the beginning of 2020 may be achievable, but the timing of its realization will be delayed by the coronavirus-induced global slowdown.",
    "output": "[Cause] the coronavirus-induced global slowdown [Relation] prevent [Effect] the timing of its realization",
    "gold": "[Cause]  the coronavirus-induced global slowdown [Relation] prevent [Effect] Goldman Sachs' strategic plan",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Orange's endeavors into the highly regulated financial-services industry exposes the firm to new risks (for example financial, regulatory), which might not be well managed by a traditional telecom management team.",
    "output": "[Cause] Orange's endeavors into the highly regulated financial-services industry [Relation] cause [Effect] the firm to new risks (for example financial, regulatory)",
    "gold": "[Cause] Orange's endeavors into the highly regulated financial-services industry [Relation] cause [Effect] the firm to new risks (for example financial, regulatory)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, the current management team aims to deleverage the balance sheet in the near term, reducing the probability that it will go \"\"\"\"big game hunting\"\"\"\" in an effort to further transform the company's portfolio anytime soon.",
    "output": "[Cause] the current management team aims to deleverage the balance sheet in the near term [Relation] enable [Effect] reducing the probability that it will go \"\"\"\"big game hunting\"\"\"\"\"\" in an effort to further transform the company's portfolio anytime soon",
    "gold": "[Cause] in an effort to further transform the company's portfolio anytime soon [Relation] cause [Effect] Additionally, the current management team aims to deleverage the balance sheet in the near term, reducing the probability that it will go \"\"\"\"big game hunting\"\"\"\"",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect Texas and Utah to have robust demand for roadwork, driven by growing populations backed by the capability to pay for these projects.",
    "output": "[Cause] growing populations backed by the capability to pay for these projects [Relation] cause [Effect] Texas and Utah to have robust demand for roadwork",
    "gold": "[Cause] growing populations backed by the capability to pay for these projects [Relation] enable [Effect] Texas and Utah to have robust demand for roadwork",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A material portion of Amex's billings (roughly 30%) are related to the travel and entertainment industry, further exposing the company to some of the most affected industries.",
    "output": "[Cause] A material portion of Amex's billings (roughly 30%) are related to the travel and entertainment industry [Relation] cause [Effect] exposing the company to some of the most affected industries",
    "gold": "[Cause] A material portion of Amex's billings (roughly 30%) are related to the travel and entertainment industry [Relation] cause [Effect] exposing the company to some of the most affected industries",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that most of its revenue is recurring, Thomson Reuters' revenue growth is a function of its revenue retention and its ability to upsell and acquire new customers.",
    "output": "[Cause] most of its revenue is recurring [Relation] cause [Effect] Thomson Reuters' revenue growth is a function of its revenue retention and its ability to upsell and acquire new customers",
    "gold": "[Cause] most of its revenue is recurring [Relation] cause [Effect] Thomson Reuters' revenue growth is a function of its revenue retention and its ability to upsell and acquire new customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the vast creation of data and the dispersed nature of network traffic, due to hybrid and multi-cloud-based environments and software-as-a-service applications, create a continually increasing number of threats.",
    "output": "[Cause] hybrid and multi-cloud-based environments and software-as-a-service applications [Relation] cause [Effect] the vast creation of data and the dispersed nature of network traffic",
    "gold": "[Cause] the vast creation of data and the dispersed nature of network traffic, due to hybrid and multi-cloud-based environments and software-as-a-service applications [Relation] cause [Effect] reate a continually increasing number of threats.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think PFG's channel diversity, vast adoption of carryout, and the eventual containment of the COVID-19 virus (most likely after the dissemination of vaccines in 2021), should return PFG' organic revenue and operating margins to prepandemic levels by 2022.",
    "output": "[Cause] PFG's channel diversity, vast adoption of carryout, and the eventual containment of the COVID-19 virus (most likely after the dissemination of vaccines in 2021) [Relation] enable [Effect] return PFG' organic revenue and operating margins to prepandemic levels by 2022",
    "gold": "[Cause] PFG's channel diversity, vast adoption of carryout, and the eventual containment of the COVID-19 virus (most likely after the dissemination of vaccines in 2021) [Relation] enable [Effect] return PFG' organic revenue and operating margins to prepandemic levels by 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result of its significant growth, LKQ has become the largest acquirer of total loss vehicles sold by insurance carriers, further solidifying the company's relationships with these entities.",
    "output": "[Cause] its significant growth [Relation] cause [Effect] LKQ has become the largest acquirer of total loss vehicles sold by insurance carriers",
    "gold": "[Cause]  its significant growth [Relation] cause [Effect] LKQ has become the largest acquirer of total loss vehicles sold by insurance carriers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result of its significant growth, LKQ has become the largest acquirer of total loss vehicles sold by insurance carriers, further solidifying the company's relationships with these entities.",
    "output": "[Cause] LKQ has become the largest acquirer of total loss vehicles sold by insurance carriers [Relation] cause [Effect] further solidifying the company's relationships with these entities",
    "gold": "[Cause] LKQ has become the largest acquirer of total loss vehicles sold by insurance carriers [Relation] cause [Effect] further solidifying the company's relationships with these entities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, BHP's ore could command a premium relative to others given the higher grade incurs lower emissions during the steel making process.",
    "output": "[Cause] the higher grade incurs lower emissions during the steel making process [Relation] cause [Effect] BHP's ore could command a premium relative to others",
    "gold": "[Cause] the higher grade incurs lower emissions during the steel making process [Relation] cause [Effect] BHP's ore could command a premium relative to others",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ticketmaster and its clients may have to weather some criticism and attacks from both fans and critics when implementing dynamic pricing.",
    "output": "[Cause] implementing dynamic pricing [Relation] cause [Effect] weather some criticism and attacks from both fans and critics",
    "gold": "[Cause] implementing dynamic pricing [Relation] enable [Effect] weather some criticism and attacks from both fans and critics",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe switching costs, and to a lesser extent intangible assets, have historically enabled Manhattan to generate returns on invested capital well in excess of its cost of capital.",
    "output": "[Cause] switching costs, and to a lesser extent intangible assets [Relation] enable [Effect] historically enabled Manhattan to generate returns on invested capital well in excess of its cost of capital",
    "gold": "[Cause] switching costs, and to a lesser extent intangible assets [Relation] enable [Effect] historically enabled Manhattan to generate returns on invested capital well in excess of its cost of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A long-running deflationary environment has led to low demand for loans, with the loan/deposit ratio having declined from 83% in 2000 to around 57% at present.",
    "output": "[Cause] A long-running deflationary environment [Relation] cause [Effect] low demand for loans",
    "gold": "[Cause] A long-running deflationary environment [Relation] cause [Effect] low demand for loans",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fortive also benefits from relatively high recurring revenue, which currently makes up nearly 40% of sales, up from 20% at the time of the spin-off from Danaher in 2016 as a result of acquisitions and growth in SaaS-based sales.",
    "output": "[Cause] acquisitions and growth in SaaS-based sales [Relation] cause [Effect] Fortive also benefits from relatively high recurring revenue, which currently makes up nearly 40% of sales, up from 20% at the time of the spin-off from Danaher in 2016",
    "gold": "[Cause] acquisitions and growth in SaaS-based sales [Relation] cause [Effect] Fortive also benefits from relatively high recurring revenue, which currently makes up nearly 40% of sales, up from 20% at the time of the spin-off from Danaher in 2016",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Roughly three fourths of the bank's loan book is backed by a commercial enterprise or commercial real estate. These loans tend to be among the fastest to reprice in a changing interest-rate environment and make the bank quite asset-sensitive.",
    "output": "[Cause] Roughly three fourths of the bank's loan book is backed by a commercial enterprise or commercial real estate [Relation] cause [Effect] These loans tend to be among the fastest to reprice in a changing interest-rate environment and make the bank quite asset-sensitive",
    "gold": "[Cause] Roughly three fourths of the bank's loan book is backed by a commercial enterprise or commercial real estate [Relation] cause [Effect] These loans tend to be among the fastest to reprice in a changing interest-rate environment and make the bank quite asset-sensitive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While necessary to preserve costs in the short term, we believe it could see the group lose key skills and be a damper on employee morale.",
    "output": "[Cause] the group lose key skills [Relation] cause [Effect] be a damper on employee morale",
    "gold": "[Cause] on employee morale [Relation] cause [Effect]  we believe it could see the group lose key skills and be a damper",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As competition has intensified, we think Dick's has had to invest heavily in e-commerce, marketing, and merchandising (with selling, general, and administrative expenses exceeding 23% of sales the past four years, up from 22% historically) and will continue to do so.",
    "output": "[Cause] competition has intensified [Relation] cause [Effect] Dick's has had to invest heavily in e-commerce, marketing, and merchandising",
    "gold": "[Cause] competition has intensified [Relation] cause [Effect] Dick's has had to invest heavily in e-commerce, marketing, and merchandising",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Eni's production costs are low relative to peers, largely thanks to production from North Africa, it also realizes higher tax rates that weigh on margins and returns.",
    "output": "[Cause] production from North Africa [Relation] cause [Effect] Eni's production costs are low relative to peers",
    "gold": "[Cause] production from North Africa [Relation] cause [Effect] Eni's production costs are low relative to peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Eni's production costs are low relative to peers, largely thanks to production from North Africa, it also realizes higher tax rates that weigh on margins and returns.",
    "output": "[Cause] production from North Africa [Relation] cause [Effect] higher tax rates",
    "gold": "[Cause] it also realizes higher tax rates [Relation] cause [Effect] weigh on margins and returns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We do not expect foundries apart from Samsung to commercialize GAA-derived products owing to prohibitive costs, with R&D alone estimated to exceed USD 1 billion.",
    "output": "[Cause] prohibitive costs [Relation] cause [Effect] We do not expect foundries apart from Samsung to commercialize GAA-derived products",
    "gold": "[Cause] prohibitive costs [Relation] cause [Effect] We do not expect foundries apart from Samsung to commercialize GAA-derived products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite building operating leverage, cost-saving efforts, and lucrative data-related sales, we anticipate the need to keep prices low in light of intense competition will keep operating margins fairly steady at around 2.4% on average long term, with diminishing gross margins offset by leverage over operating, general, and administrative expenses.",
    "output": "[Cause] the need to keep prices low in light of intense competition [Relation] enable [Effect] operating margins fairly steady at around 2.4% on average long term",
    "gold": "[Cause] Despite building operating leverage, cost-saving efforts, and lucrative data-related sales [Relation] enable [Effect] we anticipate the need to keep prices low in light of intense competition will keep operating margins fairly steady at around 2.4% on average long term, with diminishing gross margins offset by leverage over operating, general, and administrative expenses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While Home Depot has produced strong historical returns as a result of its scale, operational excellence and concise merchandising remain key tenets underlying our margin expansion forecast.",
    "output": "[Cause] its scale [Relation] cause [Effect] Home Depot has produced strong historical returns",
    "gold": "[Cause] its scale [Relation] cause [Effect] Home Depot has produced strong historical returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For nearly a century, the company has been a trusted manufacturer of mission-critical heavy machinery, which has led to its position as one of the world's most valuable brands.",
    "output": "[Cause] the company has been a trusted manufacturer of mission-critical heavy machinery [Relation] cause [Effect] its position as one of the world's most valuable brands",
    "gold": "[Cause] the company has been a trusted manufacturer of mission-critical heavy machinery [Relation] enable [Effect] its position as one of the world's most valuable brands",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think cost control efforts and rapid expansion in higher-margin businesses, such as OptumInsight and OptumHealth, should help offset the margin pressure associated with the lower-margin, but fast-growing, Medicare Advantage business.",
    "output": "[Cause] cost control efforts and rapid expansion in higher-margin businesses, such as OptumInsight and OptumHealth [Relation] enable [Effect] offset the margin pressure associated with the lower-margin",
    "gold": "[Cause] fast-growing, Medicare Advantage business [Relation] enable [Effect] offset the margin pressure associated with the lower-margin",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think high switching costs exist due to boat OEMs' impetus to maintain consistency and reliability with their recreational boater base, as we expect many boaters to be repeat customers for the same brand of boats and be deterred by change.",
    "output": "[Cause] boat OEMs' impetus to maintain consistency and reliability with their recreational boater base [Relation] cause [Effect] high switching costs exist",
    "gold": "[Cause] many boaters to be repeat customers for the same brand of boats [Relation] cause [Effect] be deterred by change",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think high switching costs exist due to boat OEMs' impetus to maintain consistency and reliability with their recreational boater base, as we expect many boaters to be repeat customers for the same brand of boats and be deterred by change.",
    "output": "[Cause] many boaters to be repeat customers for the same brand of boats and be deterred by change [Relation] cause [Effect] high switching costs exist",
    "gold": "[Cause] boat OEMs' impetus to maintain consistency and reliability with their recreational boater base [Relation] cause [Effect] high switching costs exist",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Average revenue per user (ARPU) has also grown as customers adopt new modules, and the firm makes progress up-market, up 82% since 2015.",
    "output": "[Cause] customers adopt new modules [Relation] cause [Effect] Average revenue per user (ARPU) has also grown",
    "gold": "[Cause] customers adopt new modules [Relation] cause [Effect] Average revenue per user (ARPU) has also grown",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Average revenue per user (ARPU) has also grown as customers adopt new modules, and the firm makes progress up-market, up 82% since 2015.",
    "output": "[Cause] customers adopt new modules [Relation] cause [Effect] the firm makes progress up-market, up 82% since 2015",
    "gold": "[Cause] customers adopt new modules [Relation] enable [Effect] the firm makes progress up-market, up 82% since 2015",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume earned premiums increase at a fairly modest 2% organic compound annual growth rate over our projection period, as we expect recent price increases to fade.",
    "output": "[Cause] recent price increases to fade [Relation] cause [Effect] earned premiums increase at a fairly modest 2% organic compound annual growth rate over our projection period",
    "gold": "[Cause] recent price increases to fade [Relation] cause [Effect] earned premiums increase at a fairly modest 2% organic compound annual growth rate over our projection period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While this would create additional costs, Corteva should be able to pass these along to customers, resulting in a low materiality.",
    "output": "[Cause] Corteva should be able to pass these along to customers [Relation] cause [Effect] a low materiality",
    "gold": "[Cause]  Corteva should be able to pass these along to customers [Relation] cause [Effect] a low materiality",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Targa is by no means particularly conservative on capital spending plans--its initial 2021 growth spending plans were twice our original expectations, as the rest of the midstream space hunkers down.",
    "output": "[Cause] the rest of the midstream space hunkers down [Relation] cause [Effect] its initial 2021 growth spending plans were twice our original expectations",
    "gold": "[Cause] its initial 2021 growth spending plans were twice our original expectations, as the rest of the midstream space hunkers down [Relation] cause [Effect] Targa is by no means particularly conservative on capital spending plans",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We anticipate that the firm will hold off from inorganic growth, as Spirit has taken substantial debt to fund unprofitable operations during the COVID-19 pandemic and will have few capital allocation options other than deleveraging during an aerospace recovery.",
    "output": "[Cause] Spirit has taken substantial debt to fund unprofitable operations during the COVID-19 pandemic and will have few capital allocation options other than deleveraging during an aerospace recovery [Relation] cause [Effect] the firm will hold off from inorganic growth",
    "gold": "[Cause] Spirit has taken substantial debt [Relation] cause [Effect] fund unprofitable operations during the COVID-19 pandemic and will have few capital allocation options other than deleveraging during an aerospace recovery",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Reinvigorating Victoria's Secret has been inconsistent, as merchandise has intermittently resonated with consumers, leading to low-single-digit operating margins at the segment in 2019 versus double digits in the past.",
    "output": "[Cause] merchandise has intermittently resonated with consumers [Relation] cause [Effect] low-single-digit operating margins at the segment in 2019 versus double digits in the past",
    "gold": "[Cause] merchandise has intermittently resonated with consumers [Relation] cause [Effect] low-single-digit operating margins at the segment in 2019 versus double digits in the past",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Coupled with strong brand recognition and unrivaled supply chain, Yum China is set to be the prime beneficiary of growing Chinese fast-food spending.",
    "output": "[Cause] Coupled with strong brand recognition and unrivaled supply chain [Relation] enable [Effect] Yum China is set to be the prime beneficiary of growing Chinese fast-food spending",
    "gold": "[Cause] Coupled with strong brand recognition and unrivaled supply chain [Relation] enable [Effect] Yum China is set to be the prime beneficiary of growing Chinese fast-food spending",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, we believe its broad and resilient product portfolio offers a diversification effect that derisks its global brand position, leading to a negligible likelihood of meaningful aggregate value destruction over a long-term horizon.",
    "output": "[Cause] its broad and resilient product portfolio offers a diversification effect [Relation] cause [Effect] derisks its global brand position",
    "gold": "[Cause]  broad and resilient product portfolio [Relation] enable [Effect] a diversification effect",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, we believe its broad and resilient product portfolio offers a diversification effect that derisks its global brand position, leading to a negligible likelihood of meaningful aggregate value destruction over a long-term horizon.",
    "output": "[Cause] its broad and resilient product portfolio offers a diversification effect [Relation] cause [Effect] a negligible likelihood of meaningful aggregate value destruction over a long-term horizon",
    "gold": "[Cause] a diversification effect [Relation] prevent [Effect]  global brand position",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, we believe its broad and resilient product portfolio offers a diversification effect that derisks its global brand position, leading to a negligible likelihood of meaningful aggregate value destruction over a long-term horizon.",
    "output": "[Cause] its broad and resilient product portfolio [Relation] cause [Effect] a diversification effect",
    "gold": "[Cause] a diversification effect [Relation] cause [Effect]  a negligible likelihood of meaningful aggregate value destruction over a long-term horizon",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "PFG has been increasing its presence in the c-store distribution market, with its 2019 acquisition of Eby-Brown, the third-largest convenience store distributor with $5 billion in sales.",
    "output": "[Cause] its 2019 acquisition of Eby-Brown [Relation] enable [Effect] PFG has been increasing its presence in the c-store distribution market",
    "gold": "[Cause]  its 2019 acquisition of Eby-Brown [Relation] cause [Effect] PFG has been increasing its presence in the c-store distribution market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Simply Good Foods' Atkins brand experienced revenue acceleration the years preceding the pandemic as the brand expanded its target market from the 8 million program dieters to the 33 million people seeking to reduce their intake of carbohydrates without following a regimented diet.",
    "output": "[Cause] the brand expanded its target market from the 8 million program dieters to the 33 million people seeking to reduce their intake of carbohydrates without following a regimented diet [Relation] cause [Effect] Simply Good Foods' Atkins brand experienced revenue acceleration the years preceding the pandemic",
    "gold": "[Cause]  the brand expanded its target market from the 8 million program dieters to the 33 million people [Relation] enable [Effect] reduce their intake of carbohydrates without following a regimented diet",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With the ECB's official overnight rate at 0%, the difference between the large national banks and the regional banks' funding costs seems meaningless, at 0.05% on average for Intesa and Unicredit versus 0.12% for the average regional bank.",
    "output": "[Cause] the ECB's official overnight rate at 0% [Relation] cause [Effect] the difference between the large national banks and the regional banks' funding costs seems meaningless",
    "gold": "[Cause] the ECB's official overnight rate at 0% [Relation] cause [Effect] the difference between the large national banks and the regional banks' funding costs seems meaningless",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "MercadoLibre faces limited online retail competition in the region, with Amazon, eBay, and local players like B2W generating less unique visitors in its core markets, though there are several solid competitors in the payments segment.",
    "output": "[Cause] Amazon, eBay, and local players like B2W generating less unique visitors in its core markets [Relation] cause [Effect] MercadoLibre faces limited online retail competition in the region",
    "gold": "[Cause] Amazon, eBay, and local players like B2W generating less unique visitors in its core markets [Relation] cause [Effect] MercadoLibre faces limited online retail competition in the region",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Sensata's customers would face steep costs to switching to another sensor supplier, which stem from Sensata's integration as a design partner and the high cost to failure of the end applications into which it sells.",
    "output": "[Cause] Sensata's integration as a design partner and the high cost to failure of the end applications into which it sells [Relation] cause [Effect] Sensata's customers would face steep costs to switching to another sensor supplier",
    "gold": "[Cause] Sensata's integration as a design partner and the high cost to failure of the end applications into which it sells [Relation] cause [Effect] Sensata's customers would face steep costs to switching to another sensor supplier",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As such, we believe building operators would be reluctant to completely replace entire systems and instead prefer to retrofit existing systems to adapt to changing technology, regulatory standards, and user requirements. This is a favorable dynamic for Carrier, which is well positioned to capture incremental retrofit revenue in addition to unplanned service and routine maintenance revenue.",
    "output": "[Cause] building operators would be reluctant to completely replace entire systems and instead prefer to retrofit existing systems to adapt to changing technology, regulatory standards, and user requirements [Relation] cause [Effect] a favorable dynamic for Carrier, which is well positioned to capture incremental retrofit revenue in addition to unplanned service and routine maintenance revenue",
    "gold": "[Cause] building operators would be reluctant to completely replace entire systems and instead prefer to retrofit existing systems to adapt to changing technology, regulatory standards, and user requirements [Relation] cause [Effect]  a favorable dynamic for Carrier, which is well positioned to capture incremental retrofit revenue in addition to unplanned service and routine maintenance revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management further believes that Zoom's opportunity is larger, especially after blowout results throughout fiscal 2021, as video penetration can increase materially as users experience the ease of use and robust features the platform offers.",
    "output": "[Cause] video penetration can increase materially as users experience the ease of use and robust features the platform offers [Relation] cause [Effect] Zoom's opportunity is larger",
    "gold": "[Cause] video penetration can increase materially as users experience the ease of use and robust features the platform offers [Relation] enable [Effect] Zoom's opportunity is larger",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Colfax's returns on invested capital have declined to the midsingle digits in recent years following the 2012 Charter International acquisition, which added the ESAB welding business and Howden air and gas handling business to Colfax's portfolio.",
    "output": "[Cause] the 2012 Charter International acquisition [Relation] cause [Effect] added the ESAB welding business and Howden air and gas handling business to Colfax's portfolio",
    "gold": "[Cause] added the ESAB welding business and Howden air and gas handling business to Colfax's portfolio [Relation] cause [Effect] invested capital have declined to the midsingle digits in recent years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, switching costs can arise in Qiagen's chosen fields with rental reagent agreements, reproducibility, and consistency factors playing a role in customers using Qiagen's tools over the long run.",
    "output": "[Cause] switching costs [Relation] cause [Effect] arise in Qiagen's chosen fields with rental reagent agreements, reproducibility, and consistency factors playing a role in customers using Qiagen's tools over the long run",
    "gold": "[Cause] switching costs can arise in Qiagen's chosen fields with rental reagent agreements, reproducibility, and consistency factors [Relation] enable [Effect] playing a role in customers using Qiagen's tools over the long run.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Ultimately, the firm's cost edge dulls the pain from periods of hard discounting and intense industry competition (including the current \"\"\"\"Chicken Sandwich wars\"\"\"\") and shores up margins.",
    "output": "[Cause] the firm's cost edge [Relation] prevent [Effect] the pain from periods of hard discounting and intense industry competition",
    "gold": "[Cause] the firm's cost edge dulls the pain from periods of hard discounting and intense industry competition [Relation] cause [Effect] shores up margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Despite the massive potential of this technology, we only assume a 10% probability of success, given the difficulty in successfully identifying antigens that will lead to an immune response to a patient's cancer, as well as the novelty and early-stage nature of the program.",
    "output": "[Cause] the difficulty in successfully identifying antigens [Relation] cause [Effect] an immune response to a patient's cancer",
    "gold": "[Cause] the difficulty in successfully identifying antigens that will lead to an immune response to a patient's cancer, as well as the novelty and early-stage nature of the program [Relation] cause [Effect] Despite the massive potential of this technology, we only assume a 10% probability of success",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Despite the massive potential of this technology, we only assume a 10% probability of success, given the difficulty in successfully identifying antigens that will lead to an immune response to a patient's cancer, as well as the novelty and early-stage nature of the program.",
    "output": "[Cause] the difficulty in successfully identifying antigens [Relation] cause [Effect] an immune response to a patient's cancer",
    "gold": "[Cause] the difficulty in successfully identifying antigens [Relation] cause [Effect] an immune response to a patient's cancer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The DNB has clamped down harshly on any possible missteps by Dutch banks as evidenced by the fine imposed on ING in 2018 for not being thorough enough in checking client's money transfers for fraudulent activity.",
    "output": "[Cause] not being thorough enough in checking client's money transfers for fraudulent activity [Relation] cause [Effect] The DNB has clamped down harshly on any possible missteps by Dutch banks",
    "gold": "[Cause]  not being thorough enough in checking client's money transfers for fraudulent activity [Relation] enable [Effect]  fine",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As 3D printing becomes more widely accepted for manufacturing and industrial applications, a possibility is for 3D printing vendors to consolidate and for the market to become cost sensitive like traditional printing.",
    "output": "[Cause] 3D printing becomes more widely accepted for manufacturing and industrial applications [Relation] cause [Effect] a possibility is for 3D printing vendors to consolidate and for the market to become cost sensitive like traditional printing",
    "gold": "[Cause]  3D printing becomes more widely accepted for manufacturing and industrial applications [Relation] cause [Effect]  a possibility is for 3D printing vendors to consolidate and for the market to become cost sensitive like traditional printing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Larger sales volume and geographic reach allow the biggest national restaurant operators to benefit from purchasing leverage, with food distributors willing to accept lower margins in exchange for higher operating income (margin dollars).",
    "output": "[Cause] Larger sales volume and geographic reach [Relation] enable [Effect] the biggest national restaurant operators to benefit from purchasing leverage",
    "gold": "[Cause] Larger sales volume and geographic reach [Relation] enable [Effect] the biggest national restaurant operators to benefit from purchasing leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The steep costs of failure paired with harsh conditions that augment the risk of failure make trust and reliability the driving concern for customers in TE's end markets, especially given the small portion of the bill of materials TE's content represents.",
    "output": "[Cause] The steep costs of failure paired with harsh conditions that augment the risk of failure [Relation] cause [Effect] trust and reliability the driving concern for customers in TE's end markets",
    "gold": "[Cause] The steep costs of failure paired with harsh conditions that augment the risk of failure [Relation] cause [Effect] trust and reliability the driving concern for customers in TE's end markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the original separation plan comes to fruition, Tenneco will combine its emission-control business with Federal-Mogul's engine-parts business, creating a powertrain auto-parts supplier that had 2020 revenue of $10.4 billion.",
    "output": "[Cause] the original separation plan comes to fruition [Relation] cause [Effect] Tenneco will combine its emission-control business with Federal-Mogul's engine-parts business",
    "gold": "[Cause] Tenneco will combine its emission-control business with Federal-Mogul's engine-parts business [Relation] cause [Effect] creating a powertrain auto-parts supplier that had 2020 revenue of $10.4 billion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If the original separation plan comes to fruition, Tenneco will combine its emission-control business with Federal-Mogul's engine-parts business, creating a powertrain auto-parts supplier that had 2020 revenue of $10.4 billion.",
    "output": "[Cause] Tenneco will combine its emission-control business with Federal-Mogul's engine-parts business [Relation] cause [Effect] creating a powertrain auto-parts supplier that had 2020 revenue of $10.4 billion",
    "gold": "[Cause] the original separation plan comes to fruition [Relation] cause [Effect] Tenneco will combine its emission-control business with Federal-Mogul's engine-parts business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The investment in technology will structurally help Trip.com with its cost structure, but it will be offset by increased marketing spending to drive recovery, product development costs, and better compensation to retain talent.",
    "output": "[Cause] The investment in technology [Relation] enable [Effect] structurally help Trip.com with its cost structure",
    "gold": "[Cause] The investment in technology [Relation] enable [Effect] structurally help Trip.com with its cost structure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The investment in technology will structurally help Trip.com with its cost structure, but it will be offset by increased marketing spending to drive recovery, product development costs, and better compensation to retain talent.",
    "output": "[Cause] increased marketing spending to drive recovery, product development costs, and better compensation to retain talent [Relation] prevent [Effect] Trip.com with its cost structure",
    "gold": "[Cause] increased marketing spending to drive recovery, product development costs, and better compensation to retain talent [Relation] prevent [Effect] Trip.com with its cost structure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we now think the key constraint will be lack of trained lab personnel to perform the tests, which could ultimately hold any gains in capacity to marginal levels.",
    "output": "[Cause] lack of trained lab personnel to perform the tests [Relation] prevent [Effect] hold any gains in capacity to marginal levels",
    "gold": "[Cause] lack of trained lab personnel to perform the tests [Relation] cause [Effect] hold any gains in capacity to marginal levels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We had revisited our Eaton thesis and came away far more bullish after management made two vital prudent capital allocation decisions to the commoditized and secularly challenged businesses in lighting and hydraulics (with the exception of the portions of the business Eaton is retaining). As a result, we believe Eaton will nearly hit 20% non-GAAP segment operating margins by 2022 and will drive about 500 basis points of ROIC improvement through the cycle.",
    "output": "[Cause] We had revisited our Eaton thesis and came away far more bullish after management made two vital prudent capital allocation decisions to the commoditized and secularly challenged businesses in lighting and hydraulics (with the exception of the portions of the business Eaton is retaining) [Relation] cause [Effect] Eaton will nearly hit 20% non-GAAP segment operating margins by 2022 and will drive about 500 basis points of ROIC improvement through the cycle",
    "gold": "[Cause] We had revisited our Eaton thesis and came away far more bullish after management made two vital prudent capital allocation decisions to the commoditized and secularly challenged businesses in lighting and hydraulics (with the exception of the portions of the business Eaton is retaining) [Relation] cause [Effect]  Eaton will nearly hit 20% non-GAAP segment operating margins by 2022 and will drive about 500 basis points of ROIC improvement through the cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also believe the segment can maintain its customer retention rates. As a result, we also model top-line organic growth at over 6% over the next 10 years, just above our application software projections.",
    "output": "[Cause] the segment can maintain its customer retention rates [Relation] cause [Effect] we also model top-line organic growth at over 6% over the next 10 years, just above our application software projections",
    "gold": "[Cause] the segment can maintain its customer retention rates [Relation] cause [Effect] we also model top-line organic growth at over 6% over the next 10 years, just above our application software projections",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Adding to the risk is the continued expansion of hard discounters in the United States and Amazon's burgeoning scale, which promotes price transparency.",
    "output": "[Cause] the continued expansion of hard discounters in the United States and Amazon's burgeoning scale [Relation] enable [Effect] promotes price transparency",
    "gold": "[Cause] the continued expansion of hard discounters in the United States and Amazon's burgeoning scale [Relation] enable [Effect] promotes price transparency",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, while grocery stores are extremely important to the entire shopping center as a regular driver of traffic to the property, there are multiple grocery stores, big-box discounters like Walmart and Target, and specialty food stores that compete on quality or price of groceries in any given submarket that offer essentially the same groceries. As a result, a grocery store might be able to dominate the immediate trade area based on convenience to consumers but doesn't present any other unique draw.",
    "output": "[Cause] while grocery stores are extremely important to the entire shopping center as a regular driver of traffic to the property, there are multiple grocery stores, big-box discounters like Walmart and Target, and specialty food stores that compete on quality or price of groceries in any given submarket that offer essentially the same groceries [Relation] cause [Effect] a grocery store might be able to dominate the immediate trade area based on convenience to consumers but doesn't present any other unique draw",
    "gold": "[Cause] while grocery stores are extremely important to the entire shopping center as a regular driver of traffic to the property, there are multiple grocery stores, big-box discounters like Walmart and Target, and specialty food stores that compete on quality or price of groceries in any given submarket that offer essentially the same groceries [Relation] cause [Effect] a grocery store might be able to dominate the immediate trade area based on convenience to consumers but doesn't present any other unique draw",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, we believe a growing store footprint and product portfolio will help the firm better penetrate dealers and gain market share.",
    "output": "[Cause] a growing store footprint and product portfolio [Relation] enable [Effect] the firm better penetrate dealers and gain market share",
    "gold": "[Cause] a growing store footprint and product portfolio [Relation] enable [Effect] the firm better penetrate dealers and gain market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With click-and-collect often more convenient than ship-to-home (particularly in grocery, where perishability can create spoilage concerns if a customer is unable to receive a package shortly after it arrives), we expect Walmart's physical stores will prove an asset as it expands its omnichannel offering.",
    "output": "[Cause] it expands its omnichannel offering [Relation] enable [Effect] Walmart's physical stores will prove an asset",
    "gold": "[Cause] With click-and-collect often more convenient than ship-to-home (particularly in grocery, where perishability can create spoilage concerns if a customer is unable to receive a package shortly after it arrives) [Relation] enable [Effect] Walmart's physical stores will prove an asset as it expands its omnichannel offering",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With click-and-collect often more convenient than ship-to-home (particularly in grocery, where perishability can create spoilage concerns if a customer is unable to receive a package shortly after it arrives), we expect Walmart's physical stores will prove an asset as it expands its omnichannel offering.",
    "output": "[Cause] it expands its omnichannel offering [Relation] enable [Effect] Walmart's physical stores will prove an asset",
    "gold": "[Cause] it expands its omnichannel offering [Relation] enable [Effect] Walmart's physical stores will prove an asset",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that the segment enjoys no competitive advantage, we posit that recent profit margins have been too high to sustain in the long run.",
    "output": "[Cause] the segment enjoys no competitive advantage [Relation] cause [Effect] recent profit margins have been too high to sustain in the long run",
    "gold": "[Cause] recent profit margins have been too high [Relation] cause [Effect] sustain in the long run",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm's proprietary secrets are closely held as 3M rarely grants licenses, yet its technology is difficult to imitate.",
    "output": "[Cause] 3M rarely grants licenses [Relation] cause [Effect] The firm's proprietary secrets are closely held",
    "gold": "[Cause]  3M rarely grants licenses [Relation] enable [Effect] The firm's proprietary secrets are closely held",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While concentration in communications could make Amphenol susceptible to a broader downturn, we think this is well divided between devices, wireless networks, wired data, and broadband, and don't think these markets experience simultaneous demand trends.",
    "output": "[Cause] concentration in communications [Relation] cause [Effect] Amphenol susceptible to a broader downturn",
    "gold": "[Cause] concentration in communications [Relation] cause [Effect] Amphenol susceptible to a broader downturn",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While concentration in communications could make Amphenol susceptible to a broader downturn, we think this is well divided between devices, wireless networks, wired data, and broadband, and don't think these markets experience simultaneous demand trends.",
    "output": "[Cause] concentration in communications [Relation] cause [Effect] Amphenol susceptible to a broader downturn",
    "gold": "[Cause] this is well divided between devices, wireless networks, wired data, and broadband [Relation] prevent [Effect] these markets experience simultaneous demand trends",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This creates a tail risk for producers of medical waste who can be held liable for environmental violations years after the waste was originally generated, regardless of who was responsible for the violation.",
    "output": "[Cause] This creates a tail risk for producers of medical waste [Relation] cause [Effect] be held liable for environmental violations years after the waste was originally generated, regardless of who was responsible for the violation",
    "gold": "[Cause] held liable for environmental violations years after the waste was originally generated, regardless of who was responsible for the violation [Relation] cause [Effect]  a tail risk for producers of medical waste",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As aeronautics has the highest proportion of fixed-price contracts in the sales mix, there is the most potential for margin expansion, but we think this is unlikely to occur because the B-21 is being developed on a cost-plus basis, which should compress margins.",
    "output": "[Cause] aeronautics has the highest proportion of fixed-price contracts in the sales mix [Relation] cause [Effect] there is the most potential for margin expansion",
    "gold": "[Cause]  aeronautics has the highest proportion of fixed-price contracts in the sales mix [Relation] cause [Effect] there is the most potential for margin expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As aeronautics has the highest proportion of fixed-price contracts in the sales mix, there is the most potential for margin expansion, but we think this is unlikely to occur because the B-21 is being developed on a cost-plus basis, which should compress margins.",
    "output": "[Cause] the B-21 is being developed on a cost-plus basis [Relation] cause [Effect] compress margins",
    "gold": "[Cause]  the B-21 is being developed on a cost-plus basis, which should compress margins [Relation] cause [Effect]  we think this is unlikely to occur",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think that Accenture's clients' broad familiarity with the company is a source of resistance to switching to other consultants and outsourcing providers.",
    "output": "[Cause] Accenture's clients' broad familiarity with the company [Relation] cause [Effect] resistance to switching to other consultants and outsourcing providers",
    "gold": "[Cause]  Accenture's clients' broad familiarity with the company [Relation] cause [Effect] resistance to switching to other consultants and outsourcing providers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Several innovative vaccines on the market today from entrenched vaccine players are priced in the hundreds of dollars because of limited competition.",
    "output": "[Cause] limited competition [Relation] cause [Effect] Several innovative vaccines on the market today from entrenched vaccine players are priced in the hundreds of dollars",
    "gold": "[Cause]  limited competition [Relation] cause [Effect] Several innovative vaccines on the market today from entrenched vaccine players are priced in the hundreds of dollars",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On an organic basis, we believe that Malibu's emphasis on innovation and vertical integration will drive continued sales and operating profit growth over the next decade.",
    "output": "[Cause] Malibu's emphasis on innovation and vertical integration [Relation] enable [Effect] continued sales and operating profit growth over the next decade",
    "gold": "[Cause] Malibu's emphasis on innovation and vertical integration [Relation] enable [Effect] continued sales and operating profit growth over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "First, self-inflicted headline and media risk could frame the business poorly, as it did in 2012 and 2013; however, while Carnival implemented a plethora of measures to prevent self-imposed future mishaps from weighing on the business performance, it has yet been able to escape the fallout from COVID-19.",
    "output": "[Cause] self-inflicted headline and media risk [Relation] cause [Effect] frame the business poorly",
    "gold": "[Cause] self-inflicted headline and media risk [Relation] cause [Effect] frame the business poorly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "First, self-inflicted headline and media risk could frame the business poorly, as it did in 2012 and 2013; however, while Carnival implemented a plethora of measures to prevent self-imposed future mishaps from weighing on the business performance, it has yet been able to escape the fallout from COVID-19.",
    "output": "[Cause] Carnival implemented a plethora of measures [Relation] prevent [Effect] self-imposed future mishaps from weighing on the business performance",
    "gold": "[Cause] the fallout from COVID-19 [Relation] prevent [Effect] the business performance",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think the COVID-19 outbreak will accelerate the shift to e-commerce from physical store sales and forecast flat long-term comparable sales for Kohl's.",
    "output": "[Cause] the COVID-19 outbreak [Relation] cause [Effect] accelerate the shift to e-commerce from physical store sales",
    "gold": "[Cause]  the COVID-19 outbreak [Relation] enable [Effect] accelerate the shift to e-commerce from physical store sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the COVID-19 outbreak will accelerate the shift to e-commerce from physical store sales and forecast flat long-term comparable sales for Kohl's.",
    "output": "[Cause] the COVID-19 outbreak [Relation] cause [Effect] forecast flat long-term comparable sales for Kohl's",
    "gold": "[Cause]  the COVID-19 outbreak [Relation] enable [Effect] forecast flat long-term comparable sales for Kohl's",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the Michael Kors brand has been degraded and that it will not maintain premium pricing for its bags and apparel in the face of heavy competition.",
    "output": "[Cause] heavy competition [Relation] cause [Effect] it will not maintain premium pricing for its bags and apparel",
    "gold": "[Cause] Michael Kors brand has been degraded [Relation] prevent [Effect]  maintain premium pricing for its bags and apparel in the face of heavy competition",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Other areas, like blockchain services, show more upside and make it hard for new entrants to enter, especially in the shipping space, which requires a massive coordination of shipping companies, retailers and governments.",
    "output": "[Cause] Other areas, like blockchain services, show more upside [Relation] cause [Effect] it hard for new entrants to enter",
    "gold": "[Cause] Other areas, like blockchain services, show more upside [Relation] cause [Effect]  it hard for new entrants to enter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the long run, with competition rife and negligible switching costs for consumers, Walmart faces a landscape demanding strong execution across a range of channels.",
    "output": "[Cause] competition rife and negligible switching costs for consumers [Relation] cause [Effect] Walmart faces a landscape demanding strong execution across a range of channels",
    "gold": "[Cause] competition rife and negligible switching costs for consumers [Relation] cause [Effect] Walmart faces a landscape demanding strong execution across a range of channels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In this increasingly competitive environment, several consumer staples firms have turned to cost-cutting to both finance higher spending behind their brands and improve the margin- and cash-generative profile of their business.",
    "output": "[Cause] several consumer staples firms have turned to cost-cutting [Relation] enable [Effect] finance higher spending behind their brands and improve the margin- and cash-generative profile of their business",
    "gold": "[Cause] increasingly competitive environment [Relation] cause [Effect] several consumer staples firms have turned to cost-cutting to both finance higher spending behind their brands and improve the margin- and cash-generative profile of their business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After unusually strong profitability in 2020 due to surging volumes and cost reductions, we see consolidated operating margins staying around 17% through the mid-2020s before fading to around 16.5% in 2030, which we view as a sustainable, through-cycle operating margin (that is, our midcycle assumption).",
    "output": "[Cause] surging volumes and cost reductions [Relation] cause [Effect] unusually strong profitability in 2020",
    "gold": "[Cause] surging volumes and cost reductions [Relation] cause [Effect] unusually strong profitability in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm has spent $22 billion (about $43 per share) to acquire a variety of spectrum licenses over the past decade, with most of that spending occurring at competitive FCC auctions where the firm had to beat out wireless carriers far better positioned to put spectrum to use.",
    "output": "[Cause] most of that spending occurring at competitive FCC auctions where the firm had to beat out wireless carriers far better positioned to put spectrum to use [Relation] cause [Effect] The firm has spent $22 billion (about $43 per share) to acquire a variety of spectrum licenses over the past decade",
    "gold": "[Cause] the firm had to beat out wireless carriers far better positioned to put spectrum to use [Relation] cause [Effect] most of that spending occurring at competitive FCC auctions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, the high cost to deploy FiOS and the difficulty of rapidly gaining market share has prevented Verizon from pricing the service aggressively.",
    "output": "[Cause] the high cost to deploy FiOS and the difficulty of rapidly gaining market share [Relation] prevent [Effect] Verizon from pricing the service aggressively",
    "gold": "[Cause] the high cost to deploy FiOS and the difficulty of rapidly gaining market share [Relation] prevent [Effect] Verizon from pricing the service aggressively",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A powerful distribution network sets up the company as a strong partner for smaller drug companies that lack Glaxo's resources.",
    "output": "[Cause] A powerful distribution network [Relation] enable [Effect] the company as a strong partner for smaller drug companies that lack Glaxo's resources",
    "gold": "[Cause] A powerful distribution network [Relation] enable [Effect] the company as a strong partner for smaller drug companies that lack Glaxo's resources",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The COVID-19 pandemic has taken a heavy global toll but has also provided Moderna with the opportunity to accelerate the validation of its technology.",
    "output": "[Cause] The COVID-19 pandemic [Relation] enable [Effect] Moderna with the opportunity to accelerate the validation of its technology",
    "gold": "[Cause] The COVID-19 pandemic [Relation] enable [Effect] Moderna with the opportunity to accelerate the validation of its technology",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Apart from the speed and the higher quality service, FTTH has several advantages for Telus, including lower operating expenses due to less maintenance and customer calls, lower churn rates, and higher average revenue per user.",
    "output": "[Cause] less maintenance and customer calls, lower operating expenses [Relation] cause [Effect] FTTH has several advantages for Telus",
    "gold": "[Cause]  less maintenance and customer calls [Relation] cause [Effect] lower operating expenses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While a beneficiary of consumer stock up of essential fare since COVID-19 took hold a year ago (resulting in 7% organic sales growth through the first three quarters of 2020), Kellogg chalked up a marked slowdown in the final three months of the year of just 2.5%.",
    "output": "[Cause] COVID-19 took hold a year ago [Relation] cause [Effect] a beneficiary of consumer stock up of essential fare",
    "gold": "[Cause] COVID-19 took hold a year ago [Relation] enable [Effect] a beneficiary of consumer stock up of essential fare",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On top of that, we expect organic growth in existing markets to reaccelerate as device upgrades are launched, but we believe the biggest uplift could come from the launch of TEEPS, which we expect to be commercialized at scale next year.",
    "output": "[Cause] device upgrades are launched [Relation] cause [Effect] organic growth in existing markets to reaccelerate",
    "gold": "[Cause]  device upgrades are launched [Relation] cause [Effect] organic growth in existing markets to reaccelerate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The bailout of UBS by the Swiss government in 2009 did damage to the popular image of the inviolable stability of Swiss banks.",
    "output": "[Cause] The bailout of UBS by the Swiss government in 2009 [Relation] cause [Effect] damage to the popular image of the inviolable stability of Swiss banks",
    "gold": "[Cause] The bailout of UBS by the Swiss government in 2009 [Relation] cause [Effect] damage to the popular image of the inviolable stability of Swiss banks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the CRO industry to grow in the midsingle digits due to low-single-digit growth in biopharma R&D spending as well as modest increases in outsourcing penetration.",
    "output": "[Cause] low-single-digit growth in biopharma R&D spending as well as modest increases in outsourcing penetration [Relation] cause [Effect] the CRO industry to grow in the midsingle digits",
    "gold": "[Cause] low-single-digit growth in biopharma R&D spending as well as modest increases in outsourcing penetration [Relation] cause [Effect] the CRO industry to grow in the midsingle digits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through the acquisition of WellCare in early 2020, Centene added to its Medicare-related capabilities, which account for about 15% of pro forma revenue.",
    "output": "[Cause] the acquisition of WellCare in early 2020 [Relation] enable [Effect] Centene added to its Medicare-related capabilities",
    "gold": "[Cause] the acquisition of WellCare in early 2020 [Relation] enable [Effect] Centene added to its Medicare-related capabilities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "CROs can be susceptible to impact from large cancellations because it can be difficult to repurpose capacity that was previously allocated to that large trial.",
    "output": "[Cause] it can be difficult to repurpose capacity that was previously allocated to that large trial [Relation] cause [Effect] CROs can be susceptible to impact from large cancellations",
    "gold": "[Cause] it can be difficult to repurpose capacity that was previously allocated to that large trial [Relation] enable [Effect] CROs can be susceptible to impact from large cancellations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With Hardie the clear leader in fibre cement systems, we expect the firm will continue to take share from vinyl while maintaining its own position within its category.",
    "output": "[Cause] Hardie the clear leader in fibre cement systems [Relation] cause [Effect] the firm will continue to take share from vinyl while maintaining its own position within its category",
    "gold": "[Cause] Hardie the clear leader in fibre cement systems [Relation] cause [Effect] the firm will continue to take share from vinyl while maintaining its own position within its category",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The competitive position of the three Gulf Coast refineries should improve with the addition of pipeline capacity to the Gulf Coast and the rise in the availability of discount light and heavy crude.",
    "output": "[Cause] the addition of pipeline capacity to the Gulf Coast and the rise in the availability of discount light and heavy crude [Relation] enable [Effect] The competitive position of the three Gulf Coast refineries should improve",
    "gold": "[Cause] the addition of pipeline capacity to the Gulf Coast and the rise in the availability of discount light and heavy crude [Relation] enable [Effect] The competitive position of the three Gulf Coast refineries should improve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Dollar General's recent moves to add a rapidly changing assortment of home, domestic, and party items in high-traffic areas will help insulate it further from competition.",
    "output": "[Cause] Dollar General's recent moves to add a rapidly changing assortment of home, domestic, and party items in high-traffic areas [Relation] enable [Effect] help insulate it further from competition",
    "gold": "[Cause]  Dollar General's recent moves to add a rapidly changing assortment of home, domestic, and party items in high-traffic areas [Relation] enable [Effect] help insulate it further from competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Therefore, product qualifications can effectively establish traces of intangible assets that allow for long-lasting business relationships as customers are compelled to enter into long-term supply contracts with qualified suppliers.",
    "output": "[Cause] customers are compelled to enter into long-term supply contracts with qualified suppliers [Relation] cause [Effect] product qualifications can effectively establish traces of intangible assets that allow for long-lasting business relationships",
    "gold": "[Cause] traces of intangible assets [Relation] enable [Effect] long-lasting business relationships",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Therefore, product qualifications can effectively establish traces of intangible assets that allow for long-lasting business relationships as customers are compelled to enter into long-term supply contracts with qualified suppliers.",
    "output": "[Cause] customers are compelled to enter into long-term supply contracts with qualified suppliers [Relation] cause [Effect] long-lasting business relationships",
    "gold": "[Cause] customers are compelled to enter into long-term supply contracts with qualified suppliers [Relation] cause [Effect] long-lasting business relationships",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This process reduces the cost of data procurement as compared with a potential entrant, which would rely on a more manual process. This ultimately allows CoStar to access more data with less manual time and effort exerted by its army of researchers.",
    "output": "[Cause] This process reduces the cost of data procurement as compared with a potential entrant, which would rely on a more manual process [Relation] enable [Effect] CoStar to access more data with less manual time and effort exerted by its army of researchers",
    "gold": "[Cause] This process reduces the cost of data procurement as compared with a potential entrant, which would rely on a more manual process [Relation] enable [Effect]  CoStar to access more data with less manual time and effort exerted by its army of researchers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For instance, Tencent Music had exclusive agreements with major music labels which undermines the competitiveness of other cloud music streaming players.",
    "output": "[Cause] Tencent Music had exclusive agreements with major music labels [Relation] prevent [Effect] the competitiveness of other cloud music streaming players",
    "gold": "[Cause] Tencent Music had exclusive agreements with major music labels [Relation] prevent [Effect] the competitiveness of other cloud music streaming players",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Firms can clean up their operations in the field as much as possible by burning less natural gas and consuming less water in the production process and using technologies like carbon capture to reduce CO2 volumes being released into the atmosphere during the extraction process.",
    "output": "[Cause] burning less natural gas and consuming less water in the production process and using technologies like carbon capture to reduce CO2 volumes being released into the atmosphere during the extraction process [Relation] enable [Effect] Firms can clean up their operations in the field as much as possible",
    "gold": "[Cause] burning less natural gas and consuming less water in the production process and using technologies like carbon capture to reduce CO2 volumes being released into the atmosphere during the extraction process [Relation] enable [Effect] Firms can clean up their operations in the field as much as possible",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Colfax added this unit to its portfolio in 2019 with its acquisition of DJO Global, and the segment consists of two businesses: reconstructive (roughly 30% of medical technology sales) and prevention and rehabilitation (roughly 70% of medical technology sales).",
    "output": "[Cause] its acquisition of DJO Global [Relation] enable [Effect] Colfax added this unit to its portfolio in 2019",
    "gold": "[Cause]  its acquisition of DJO Global [Relation] cause [Effect] Colfax added this unit to its portfolio in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A prolonged contraction in travel demand from COVID-19 could cause an increasing amount of small business traditional travel agencies to shutdown, which could marginally impact long-term transaction volume done on Sabre's travel network.",
    "output": "[Cause] A prolonged contraction in travel demand from COVID-19 [Relation] cause [Effect] an increasing amount of small business traditional travel agencies to shutdown",
    "gold": "[Cause] A prolonged contraction in travel demand from COVID-19 [Relation] cause [Effect]  an increasing amount of small business traditional travel agencies to shutdown",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A prolonged contraction in travel demand from COVID-19 could cause an increasing amount of small business traditional travel agencies to shutdown, which could marginally impact long-term transaction volume done on Sabre's travel network.",
    "output": "[Cause] an increasing amount of small business traditional travel agencies to shutdown [Relation] cause [Effect] marginally impact long-term transaction volume done on Sabre's travel network",
    "gold": "[Cause]  an increasing amount of small business traditional travel agencies to shutdown [Relation] cause [Effect] marginally impact long-term transaction volume done on Sabre's travel network",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A recession in the midst of the turnaround could be more than Adient could bear, resulting in bankruptcy, but total liquidity at Sept.",
    "output": "[Cause] A recession in the midst of the turnaround could be more than Adient could bear [Relation] cause [Effect] bankruptcy",
    "gold": "[Cause] A recession in the midst of the turnaround could be more than Adient could bear [Relation] cause [Effect] bankruptcy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Plus, with one of the largest IT workforces (at half a million) and an industry-leading number of diamond accounts (typically $100 million annually or more), smaller IT-services companies may find it hard to keep up with the increasing innovation and know-how required to service enterprise technology.",
    "output": "[Cause] one of the largest IT workforces (at half a million) and an industry-leading number of diamond accounts (typically $100 million annually or more) [Relation] cause [Effect] smaller IT-services companies may find it hard to keep up with the increasing innovation and know-how required to service enterprise technology",
    "gold": "[Cause] one of the largest IT workforces (at half a million) and an industry-leading number of diamond accounts (typically $100 million annually or more) [Relation] cause [Effect] smaller IT-services companies may find it hard to keep up with the increasing innovation and know-how required to service enterprise technology",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Here, we expect marketing to average over 47% of sales during 2021-30 versus the 52% and 48% levels reported in 2020 and over the past three years, respectively. As a result of our revenue and expense forecasts, we see operating margins expanding to 17% in 2030 from 12.0% in 2019.",
    "output": "[Cause] marketing to average over 47% of sales during 2021-30 versus the 52% and 48% levels reported in 2020 and over the past three years, respectively [Relation] cause [Effect] operating margins expanding to 17% in 2030 from 12.0% in 2019",
    "gold": "[Cause]  operating margins expanding to 17% in 2030 from 12.0% in 2019 [Relation] cause [Effect] marketing to average over 47% of sales during 2021-30 versus the 52% and 48% levels reported in 2020 and over the past three years, respectively",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "UBS was ahead of the curve in anticipating what a global bank should look like in the post-crisis world, and its shareholders are benefiting from its early and decisive actions.",
    "output": "[Cause] UBS was ahead of the curve in anticipating what a global bank should look like in the post-crisis world [Relation] enable [Effect] its shareholders are benefiting from its early and decisive actions",
    "gold": "[Cause] UBS was ahead of the curve in anticipating what a global bank should look like in the post-crisis world [Relation] enable [Effect] its shareholders are benefiting from its early and decisive actions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These master leases generally prevent tenants from dropping poorer-performing properties, as lease renewals are \"\"\"\"all or none,\"\"\"\" and promote strong partnerships between Ventas and its various operators, making triple-net business relatively sticky.",
    "output": "[Cause] lease renewals are \"\"\"\"all or none,\"\"\"\" and promote strong partnerships between Ventas and its various operators [Relation] cause [Effect] These master leases generally prevent tenants from dropping poorer-performing properties",
    "gold": "[Cause] These master leases [Relation] prevent [Effect]  tenants from dropping poorer-performing properties",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These master leases generally prevent tenants from dropping poorer-performing properties, as lease renewals are \"\"\"\"all or none,\"\"\"\" and promote strong partnerships between Ventas and its various operators, making triple-net business relatively sticky.",
    "output": "[Cause] lease renewals are \"\"\"\"all or none,\"\"\"\" and promote strong partnerships between Ventas and its various operators [Relation] cause [Effect] making triple-net business relatively sticky",
    "gold": "[Cause] lease renewals are \"\"\"\"all or none,\"\"\"\" and promote strong partnerships between Ventas and its various operators [Relation] cause [Effect] making triple-net business relatively sticky",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, the firm has accelerated its patent filings as measured by its 30% increase in new patent filings from mid-2012 to the end of 2014.",
    "output": "[Cause] its 30% increase in new patent filings from mid-2012 to the end of 2014 [Relation] cause [Effect] the firm has accelerated its patent filings",
    "gold": "[Cause] its 30% increase in new patent filings from mid-2012 to the end of 2014 [Relation] cause [Effect]  the firm has accelerated its patent filings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lyft also appears to be aggressively pursuing the autonomous vehicle route as it understands that self-driving cars may help the firm to expand its margins; without drivers, it could recognize a bigger chunk of the fare as net revenue.",
    "output": "[Cause] it understands that self-driving cars may help the firm to expand its margins [Relation] cause [Effect] Lyft also appears to be aggressively pursuing the autonomous vehicle route",
    "gold": "[Cause] it understands that self-driving cars may help the firm to expand its margins [Relation] cause [Effect] Lyft also appears to be aggressively pursuing the autonomous vehicle route",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Beyond 2024, our model calls for low- to mid-single-digit average annual revenue growth due to slowing SMB seller and consumer retention rates.",
    "output": "[Cause] slowing SMB seller and consumer retention rates [Relation] cause [Effect] our model calls for low- to mid-single-digit average annual revenue growth",
    "gold": "[Cause]  slowing SMB seller and consumer retention rates [Relation] cause [Effect] our model calls for low- to mid-single-digit average annual revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since deciding to spin off its Refinitiv financial and risk operations to London-based LSE Group, we believe the firm has gained more focus.",
    "output": "[Cause] deciding to spin off its Refinitiv financial and risk operations to London-based LSE Group [Relation] cause [Effect] the firm has gained more focus",
    "gold": "[Cause] deciding to spin off its Refinitiv financial and risk operations to London-based LSE Group [Relation] cause [Effect] the firm has gained more focus",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the adjusted ROIC rises over our forecast horizon as the assets stabilize from recent transactions and developments, it does not exceed our WACC estimate.",
    "output": "[Cause] the assets stabilize from recent transactions and developments [Relation] cause [Effect] the adjusted ROIC rises over our forecast horizon",
    "gold": "[Cause] the assets stabilize from recent transactions and developments [Relation] cause [Effect]  it does not exceed our WACC estimate | the adjusted ROIC rises over our forecast horizon",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As Moore's law-led CPU performance improvements have slowed, GPUs have become widespread in accelerating the training of AI models to perform a task.",
    "output": "[Cause] Moore's law-led CPU performance improvements have slowed [Relation] cause [Effect] GPUs have become widespread in accelerating the training of AI models to perform a task",
    "gold": "[Cause]  Moore's law-led CPU performance improvements have slowed [Relation] cause [Effect] GPUs have become widespread in accelerating the training of AI models to perform a task",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Any weaknesses in the banking sector could lead banks to defer technology purchases, hurting FIS' top line, and any dramatic changes in the structure of the banking industry could have hard-to-predict consequences for FIS.",
    "output": "[Cause] any dramatic changes in the structure of the banking industry [Relation] cause [Effect] hard-to-predict consequences for FIS",
    "gold": "[Cause] any dramatic changes in the structure of the banking industry [Relation] cause [Effect]  hard-to-predict consequences for FIS",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Following fourth-quarter results, we are boosting our fair value estimate to $114 per share from $105, due to lifting our revenue and margin forecasts on strength in the for-hire trucking and highway brokerage units.",
    "output": "[Cause] lifting our revenue and margin forecasts on strength in the for-hire trucking and highway brokerage units [Relation] cause [Effect] we are boosting our fair value estimate to $114 per share from $105",
    "gold": "[Cause]  lifting our revenue and margin forecasts on strength in the for-hire trucking and highway brokerage units [Relation] cause [Effect] we are boosting our fair value estimate to $114 per share from $105",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project that A&R costs will rise in absolute terms but decline slightly as a percentage of revenue over the next five years to 30.2% from 30.7% in fiscal 2019. Thus, we estimate that gross margin for the segment will increase to 50.2% in fiscal 2025 from 47.8% in the more normalized fiscal 2019.",
    "output": "[Cause] A&R costs will rise in absolute terms but decline slightly as a percentage of revenue over the next five years to 30.2% from 30.7% in fiscal 2019 [Relation] cause [Effect] gross margin for the segment will increase to 50.2% in fiscal 2025 from 47.8% in the more normalized fiscal 2019",
    "gold": "[Cause]  A&R costs will rise in absolute terms but decline slightly as a percentage of revenue over the next five years to 30.2% from 30.7% in fiscal 2019 [Relation] cause [Effect] gross margin for the segment will increase to 50.2% in fiscal 2025 from 47.8% in the more normalized fiscal 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While our sum-of-the-parts value implies little breakup value, a separation of Emerson's two platforms could free each business to determine its own investments and improve each platform's earning power.",
    "output": "[Cause] a separation of Emerson's two platforms [Relation] enable [Effect] free each business to determine its own investments and improve each platform's earning power",
    "gold": "[Cause] While our sum-of-the-parts value implies little breakup value [Relation] enable [Effect] a separation of Emerson's two platforms could free each business to determine its own investments and improve each platform's earning power",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We anticipate that higher spending among online shoppers, a growing user and seller base, and adoption of personalized mobile marketing services will all contribute to Alibaba's online retail revenue growth.",
    "output": "[Cause] higher spending among online shoppers, a growing user and seller base, and adoption of personalized mobile marketing services [Relation] enable [Effect] Alibaba's online retail revenue growth",
    "gold": "[Cause] higher spending among online shoppers, a growing user and seller base, and adoption of personalized mobile marketing services [Relation] enable [Effect] Alibaba's online retail revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Total's downstream segment has struggled in the past, as its refining assets were primarily located in Europe, where structural challenges including overcapacity, susceptibility to low-cost imports, and lack of a cost advantage weighed on margins and returns.",
    "output": "[Cause] its refining assets were primarily located in Europe [Relation] cause [Effect] Total's downstream segment has struggled in the past",
    "gold": "[Cause] its refining assets were primarily located in Europe [Relation] cause [Effect] Total's downstream segment has struggled in the past",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Switching to another interconnect and/or sensor supplier would mean at least a partial system redesign on behalf of the OEM, in addition to retraining staff to learn the intricacies of the new supplier's systems.",
    "output": "[Cause] Switching to another interconnect and/or sensor supplier [Relation] cause [Effect] at least a partial system redesign on behalf of the OEM, in addition to retraining staff to learn the intricacies of the new supplier's systems",
    "gold": "[Cause] Switching to another interconnect and/or sensor supplier [Relation] cause [Effect] a partial system redesign on behalf of the OEM, in addition to retraining staff to learn the intricacies of the new supplier's systems.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Sandvik has struggled to grow since 2019 and thus a more growth-orientated strategy is necessary, especially given the volatile nature of demand and structural headwinds that some of its end markets face, such as the automotive and aerospace industries.",
    "output": "[Cause] Sandvik has struggled to grow since 2019 [Relation] cause [Effect] a more growth-orientated strategy is necessary",
    "gold": "[Cause]  the volatile nature of demand and structural headwinds [Relation] cause [Effect] a more growth-orientated strategy is necessary",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe Invesco should be able to keep operating margins at a slightly higher level than it has historically (in a 25%-28% range longer term) but that the pressure of fee compression and industry competition will ultimately weigh on results.",
    "output": "[Cause] the pressure of fee compression and industry competition [Relation] prevent [Effect] results",
    "gold": "[Cause] the pressure of fee compression and industry competition [Relation] prevent [Effect] keep operating margins at a slightly higher level than it has historically",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "By our estimates, Janus Henderson has close to one tenth of its total AUM (and one fifth of its retail AUM) tied to performance-based advisory fee structures, which could increase the amount of volatility in annual revenue, profitability, and cash flows.",
    "output": "[Cause] Janus Henderson has close to one tenth of its total AUM (and one fifth of its retail AUM) tied to performance-based advisory fee structures [Relation] cause [Effect] increase the amount of volatility in annual revenue, profitability, and cash flows",
    "gold": "[Cause] Janus Henderson has close to one tenth of its total AUM (and one fifth of its retail AUM) tied to performance-based advisory fee structures [Relation] enable [Effect] increase the amount of volatility in annual revenue, profitability, and cash flows",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We still feel Rogers will face tougher cable competition, but with BCE's network revamp more than 50% complete, Rogers has been holding its own.",
    "output": "[Cause] BCE's network revamp more than 50% complete [Relation] enable [Effect] Rogers has been holding its own",
    "gold": "[Cause] BCE's network revamp more than 50% complete [Relation] enable [Effect] Rogers has been holding its own",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, we expect adjusted EBITDA margins (excluding stock-based compensation) to increase from 21% in 2019 to 27% in 2024 as revenue growth and expense initiatives drive operating leverage in both segments.",
    "output": "[Cause] revenue growth and expense initiatives drive operating leverage in both segments [Relation] cause [Effect] adjusted EBITDA margins (excluding stock-based compensation) to increase from 21% in 2019 to 27% in 2024",
    "gold": "[Cause] revenue growth and expense initiatives drive operating leverage in both segments [Relation] cause [Effect] adjusted EBITDA margins (excluding stock-based compensation) to increase from 21% in 2019 to 27% in 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, steady growth from vaccines and consumer healthcare products should reduce the volatility from patent losses in the prescription drug business.",
    "output": "[Cause] steady growth from vaccines and consumer healthcare products [Relation] enable [Effect] reduce the volatility from patent losses in the prescription drug business",
    "gold": "[Cause] steady growth from vaccines and consumer healthcare products [Relation] cause [Effect] reduce the volatility from patent losses in the prescription drug business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Revenue fell 11% in 2020 on fewer carloads, falling fuel surcharges, and mix headwinds, but core pricing remained positive and top-line declines moderated throughout the second half.",
    "output": "[Cause] fewer carloads, falling fuel surcharges, and mix headwinds [Relation] cause [Effect] Revenue fell 11% in 2020",
    "gold": "[Cause] fewer carloads, falling fuel surcharges, and mix headwinds [Relation] cause [Effect] Revenue fell 11% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect capital spending will total $1.1 billion-$1.3 billion annually through 2025 as Millicom continues to expand cable infrastructure into new areas and improve its wireless networks.",
    "output": "[Cause] Millicom continues to expand cable infrastructure into new areas and improve its wireless networks [Relation] cause [Effect] capital spending will total $1.1 billion-$1.3 billion annually through 2025",
    "gold": "[Cause]  Millicom continues to expand cable infrastructure into new areas and improve its wireless networks [Relation] cause [Effect]  capital spending will total $1.1 billion-$1.3 billion annually through 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the firm still has ample room for growth in the swimming pool market, thanks to the growing penetration of variable-speed pumps and automation systems.",
    "output": "[Cause] the growing penetration of variable-speed pumps and automation systems [Relation] cause [Effect] the firm still has ample room for growth in the swimming pool market",
    "gold": "[Cause]  the growing penetration of variable-speed pumps and automation systems [Relation] cause [Effect] the firm still has ample room for growth in the swimming pool market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There is an elevated risk of such failure when one considers that Amphenol's solutions are designed into products that operate in harsh environments.",
    "output": "[Cause] Amphenol's solutions are designed into products that operate in harsh environments [Relation] cause [Effect] There is an elevated risk of such failure",
    "gold": "[Cause]  Amphenol's solutions are designed into products that operate in harsh environments [Relation] cause [Effect] There is an elevated risk of such failure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the most value-creative long-term expansion opportunity for TransUnion and its peers lies in emerging markets, where growing middle-class populations should allow the companies to export their business model.",
    "output": "[Cause] growing middle-class populations [Relation] enable [Effect] the companies to export their business model",
    "gold": "[Cause] growing middle-class populations should allow the companies to export their business model [Relation] enable [Effect] the most value-creative long-term expansion opportunity for TransUnion and its peers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because China lacked reputable food distributors when Yum Brands entered the country in 1987, the company had to develop its own distribution infrastructure, which now encompasses 20 logistics facilities, a national consolidation center in Shanghai, and a fleet of more than 500 refrigerated trucks.",
    "output": "[Cause] China lacked reputable food distributors when Yum Brands entered the country in 1987 [Relation] cause [Effect] the company had to develop its own distribution infrastructure",
    "gold": "[Cause] China lacked reputable food distributors when Yum Brands entered the country in 1987 [Relation] cause [Effect] the company had to develop its own distribution infrastructure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And despite recent strength, we expect competitive angst is likely to intensify within its retail mix, as supply better matches demand over the coming quarters.",
    "output": "[Cause] supply better matches demand over the coming quarters [Relation] cause [Effect] competitive angst is likely to intensify within its retail mix",
    "gold": "[Cause] supply better matches demand over the coming quarters [Relation] cause [Effect] competitive angst is likely to intensify within its retail mix",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customer switching costs come from consumer packaged goods companies' unwillingness to jeopardize the brand equity of their products by changing specialized ingredients that are critical to the consumer experience.",
    "output": "[Cause] consumer packaged goods companies' unwillingness to jeopardize the brand equity of their products by changing specialized ingredients that are critical to the consumer experience [Relation] cause [Effect] Customer switching costs",
    "gold": "[Cause] consumer packaged goods companies' unwillingness to jeopardize the brand equity of their products by changing specialized ingredients that are critical to the consumer experience [Relation] cause [Effect] Customer switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Delayed pipelines of projects by corporate customers and a sharp drop in consumer credit lending also obfuscate the growth picture.",
    "output": "[Cause] Delayed pipelines of projects by corporate customers and a sharp drop in consumer credit lending [Relation] cause [Effect] obfuscate the growth picture",
    "gold": "[Cause] corporate customers and a sharp drop in consumer credit lending also obfuscate the growth picture [Relation] cause [Effect] Delayed pipelines of projects",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Though atypical for a company of its size, National Beverage owns most of its production and logistics apparatus. Consequently, in addition to procurement benefits from higher volume, the firm should be able to leverage fixed production costs (such as planning, maintenance, and depreciation).",
    "output": "[Cause] Though atypical for a company of its size, National Beverage owns most of its production and logistics apparatus [Relation] cause [Effect] in addition to procurement benefits from higher volume, the firm should be able to leverage fixed production costs (such as planning, maintenance, and depreciation)",
    "gold": "[Cause] Though atypical for a company of its size, National Beverage owns most of its production and logistics apparatus [Relation] cause [Effect] in addition to procurement benefits from higher volume, the firm should be able to leverage fixed production costs (such as planning, maintenance, and depreciation)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Reddy has faced the most challenges with regulatory violations, which have likely hampered its profitability through remediation costs and lost revenue.",
    "output": "[Cause] Reddy has faced the most challenges with regulatory violations [Relation] cause [Effect] hampered its profitability through remediation costs and lost revenue",
    "gold": "[Cause] Reddy has faced the most challenges with regulatory violations [Relation] cause [Effect] hampered its profitability through remediation costs and lost revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our opinion, the Macao government is likely to put in place another table cap beyond 2023 to prevent oversupply of gaming tables, ensuring healthy growth for the gaming industry in Macao.",
    "output": "[Cause] the Macao government is likely to put in place another table cap beyond 2023 [Relation] prevent [Effect] oversupply of gaming tables, ensuring healthy growth for the gaming industry in Macao",
    "gold": "[Cause]  put in place another table cap [Relation] cause [Effect] prevent oversupply of gaming tables",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If Crown proves to not have the same competitive advantages in fiber as it has in towers, the investments could end up being value-destructive.",
    "output": "[Cause] Crown proves to not have the same competitive advantages in fiber as it has in towers [Relation] cause [Effect] the investments could end up being value-destructive",
    "gold": "[Cause] Crown proves to not have the same competitive advantages in fiber as it has in towers [Relation] prevent [Effect] the investments could end up being value-destructive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For Comirnaty, we assume a gross margin of roughly 70% in 2021, declining in 2022 despite manufacturing efficiencies due to a higher concentration of sales in less developed markets and more competition.",
    "output": "[Cause] a higher concentration of sales in less developed markets and more competition [Relation] cause [Effect] declining in 2022 despite manufacturing efficiencies",
    "gold": "[Cause] a higher concentration of sales in less developed markets and more competition [Relation] cause [Effect]  declining in 2022 despite manufacturing efficiencies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Efficient scale applies in this context because a new entrant would have no choice but to replicate FedEx's sprawling asset base in the absence of economic package flow, yielding a long period of painful losses and creating a major barrier to rational would-be competitors.",
    "output": "[Cause] a new entrant would have no choice but to replicate FedEx's sprawling asset base in the absence of economic package flow [Relation] cause [Effect] Efficient scale applies in this context",
    "gold": "[Cause] yielding a long period of painful losses and creating a major barrier to rational would-be competitors [Relation] cause [Effect] Efficient scale applies in this context",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although the firm is experiencing higher costs, this is being more than offset by lower costs for cattle and hogs.",
    "output": "[Cause] lower costs for cattle and hogs [Relation] prevent [Effect] the firm is experiencing higher costs",
    "gold": "[Cause]  lower costs for cattle and hogs [Relation] prevent [Effect] the firm is experiencing higher costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Numerous players have entered the market in recent years as demand for hydraulic fracturing has spiked. As such, the market has been oversupplied since 2019, when demand began to plateau just as ample new capacity came on line.",
    "output": "[Cause] Numerous players have entered the market in recent years as demand for hydraulic fracturing has spiked [Relation] cause [Effect] the market has been oversupplied since 2019, when demand began to plateau just as ample new capacity came on line",
    "gold": "[Cause] Numerous players have entered the market in recent years as demand for hydraulic fracturing has spiked [Relation] cause [Effect] the market has been oversupplied since 2019, when demand began to plateau just as ample new capacity came on line",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, we can see interest costs rise materially should the current low-interest-rate regime give way to a more historically normal level.",
    "output": "[Cause] the current low-interest-rate regime give way to a more historically normal level [Relation] cause [Effect] interest costs rise materially",
    "gold": "[Cause]  the current low-interest-rate regime give way to a more historically normal level [Relation] cause [Effect] interest costs rise materially",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The COVID-19 pandemic highlights the geopolitical risk airlines face, as many global consumers of air travel are affected by travel-preventing stay-at-home orders.",
    "output": "[Cause] many global consumers of air travel are affected by travel-preventing stay-at-home orders [Relation] cause [Effect] The COVID-19 pandemic highlights the geopolitical risk airlines face",
    "gold": "[Cause] many global consumers of air travel are affected by travel-preventing stay-at-home orders [Relation] cause [Effect] The COVID-19 pandemic highlights the geopolitical risk airlines face",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As it has not historically operated in the core of the basin, Laredo does not share the cost advantage that other Permian producers enjoy (the Howard County assets will drive up margins temporarily, but the company only has a few years' worth of drilling locations to work through there).",
    "output": "[Cause] it has not historically operated in the core of the basin [Relation] cause [Effect] Laredo does not share the cost advantage that other Permian producers enjoy",
    "gold": "[Cause] it has not historically operated in the core of the basin [Relation] cause [Effect] Laredo does not share the cost advantage that other Permian producers enjoy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, Ametek needs to spend only a near-industry low of about 1.8% of sales on capital expenditures, while working capital hovers around only 19% of sales. This allows Ametek to generate free cash flow conversion rates of about 120%, which, in our view, is best-in-class and toward the upper end of our diversified industrial coverage.",
    "output": "[Cause] Ametek needs to spend only a near-industry low of about 1.8% of sales on capital expenditures, while working capital hovers around only 19% of sales [Relation] enable [Effect] Ametek to generate free cash flow conversion rates of about 120%, which, in our view, is best-in-class and toward the upper end of our diversified industrial coverage",
    "gold": "[Cause] Ametek needs to spend only a near-industry low of about 1.8% of sales on capital expenditures, while working capital hovers around only 19% of sales [Relation] enable [Effect] Ametek to generate free cash flow conversion rates of about 120%, which, in our view, is best-in-class and toward the upper end of our diversified industrial coverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This will ensure that the brand is represented properly in the local marketplace, and that local demand is addressed carefully, to craft wider knowledge about the brand over time, helping to strengthen the brand intangible asset globally.",
    "output": "[Cause] craft wider knowledge about the brand over time [Relation] enable [Effect] strengthening the brand intangible asset globally",
    "gold": "[Cause]  to craft wider knowledge about the brand over time [Relation] enable [Effect] helping to strengthen the brand intangible asset globally",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, some of the categories in which it competes--like packaged meats and cheeses, categories that account for around one fifth of its consolidated base, after excluding the pending sale of its natural cheese business--have become commodified, as consumers tend to consider price rather than brand when making purchase decisions.",
    "output": "[Cause] consumers tend to consider price rather than brand when making purchase decisions [Relation] cause [Effect] some of the categories in which it competes--like packaged meats and cheeses, categories that account for around one fifth of its consolidated base, after excluding the pending sale of its natural cheese business--have become commodified",
    "gold": "[Cause] consumers tend to consider price rather than brand when making purchase decisions [Relation] cause [Effect] some of the categories in which it competes--like packaged meats and cheeses, categories that account for around one fifth of its consolidated base, after excluding the pending sale of its natural cheese business--have become commodified",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Garmin's aviation segment has seen a recent surge in growth, this is a result of the Federal Aviation Administration's new mandate requiring ADS-B out units.",
    "output": "[Cause] the Federal Aviation Administration's new mandate requiring ADS-B out units [Relation] cause [Effect] Garmin's aviation segment has seen a recent surge in growth",
    "gold": "[Cause] the Federal Aviation Administration's new mandate requiring ADS-B out units [Relation] cause [Effect] Garmin's aviation segment has seen a recent surge in growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast total operating expense to average 8.7% of total revenue over the next 10 years. As a result of our revenue and operating forecast, we project operating margins to reach 26.2% in 2029 from 22.6% in 2019 and 2029 EBI growth of 5.6%.",
    "output": "[Cause] We forecast total operating expense to average 8.7% of total revenue over the next 10 years [Relation] cause [Effect] we project operating margins to reach 26.2% in 2029 from 22.6% in 2019 and 2029 EBI growth of 5.6%",
    "gold": "[Cause] We forecast total operating expense to average 8.7% of total revenue over the next 10 years [Relation] cause [Effect] we project operating margins to reach 26.2% in 2029 from 22.6% in 2019 and 2029 EBI growth of 5.6%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the firm to spend over $700 million each year on advertising and media, which provides buying power over smaller peers, also contributing to its cost advantage.",
    "output": "[Cause] the firm to spend over $700 million each year on advertising and media [Relation] enable [Effect] provides buying power over smaller peers, also contributing to its cost advantage",
    "gold": "[Cause] the firm to spend over $700 million each year on advertising and media [Relation] cause [Effect] provides buying power over smaller peers, also contributing to its cost advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With most aggregates producers lacking efficient water or rail alternatives, markets tend to be extremely localized, with high barriers to entry.",
    "output": "[Cause] most aggregates producers lacking efficient water or rail alternatives [Relation] cause [Effect] markets tend to be extremely localized, with high barriers to entry",
    "gold": "[Cause] most aggregates producers lacking efficient water or rail alternatives [Relation] cause [Effect] markets tend to be extremely localized, with high barriers to entry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the recent investments in TV production companies outside France, we also expect the studio to increase its television series production especially as its SVOD offering, CanalPlay, continues to gain traction.",
    "output": "[Cause] the recent investments in TV production companies outside France [Relation] cause [Effect] the studio to increase its television series production especially as its SVOD offering, CanalPlay, continues to gain traction",
    "gold": "[Cause] the recent investments in TV production companies outside France [Relation] cause [Effect] the studio to increase its television series production especially as its SVOD offering, CanalPlay, continues to gain traction",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "DEV is exposed to operating risks such as hurricanes, which can damage utility property, and shifts in customer energy use.",
    "output": "[Cause] hurricanes [Relation] cause [Effect] damage utility property, and shifts in customer energy use",
    "gold": "[Cause] DEV is exposed to operating risks [Relation] cause [Effect] damage utility property, and shifts in customer energy use",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, in our view, Sabre's network, switching cost, and efficient scale advantages are fortified by the company's recent investment into revitalizing its travel network by migrating functionality to the cloud and streamlining its technology offering, which should allow for improved product innovation at lower costs long term.",
    "output": "[Cause] the company's recent investment into revitalizing its travel network by migrating functionality to the cloud and streamlining its technology offering [Relation] enable [Effect] Sabre's network, switching cost, and efficient scale advantages are fortified",
    "gold": "[Cause] investment into revitalizing its travel network by migrating functionality to the cloud and streamlining its technology offering [Relation] cause [Effect] improved product innovation at lower costs long term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, in our view, Sabre's network, switching cost, and efficient scale advantages are fortified by the company's recent investment into revitalizing its travel network by migrating functionality to the cloud and streamlining its technology offering, which should allow for improved product innovation at lower costs long term.",
    "output": "[Cause] Sabre's network, switching cost, and efficient scale advantages are fortified [Relation] enable [Effect] improved product innovation at lower costs long term",
    "gold": "[Cause] investment into revitalizing its travel network by migrating functionality to the cloud and streamlining its technology offering [Relation] cause [Effect]  efficient scale advantages are fortified",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In these projects, a large number of exploration and production companies pool their resources under Core's leadership to better understand a large oil and gas field.",
    "output": "[Cause] a large number of exploration and production companies pool their resources under Core's leadership [Relation] enable [Effect] better understand a large oil and gas field",
    "gold": "[Cause] better understand a large oil and gas field [Relation] cause [Effect]  a large number of exploration and production companies pool their resources under Core's leadership",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As a sophisticated software provider, BlackBerry's success depends on acquiring and retaining cutting-edge artificial intelligence engineers to innovate; any loss of talent could hamper its competitive position.",
    "output": "[Cause] any loss of talent [Relation] prevent [Effect] its competitive position",
    "gold": "[Cause] acquiring and retaining cutting-edge artificial intelligence engineers to innovate [Relation] enable [Effect] BlackBerry's success",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although we expect competitive pricing in the consumer cybersecurity market, the bundling of Norton and LifeLock products may drive increased revenue as consumers look to simplify their security and identity concerns around one provider.",
    "output": "[Cause] consumers look to simplify their security and identity concerns around one provider [Relation] cause [Effect] the bundling of Norton and LifeLock products may drive increased revenue",
    "gold": "[Cause]  the bundling of Norton and LifeLock products [Relation] enable [Effect] increased revenue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although we expect competitive pricing in the consumer cybersecurity market, the bundling of Norton and LifeLock products may drive increased revenue as consumers look to simplify their security and identity concerns around one provider.",
    "output": "[Cause] consumers look to simplify their security and identity concerns around one provider [Relation] cause [Effect] the bundling of Norton and LifeLock products may drive increased revenue",
    "gold": "[Cause] consumers look to simplify their security and identity concerns around one provider [Relation] cause [Effect] the bundling of Norton and LifeLock products may drive increased revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the sector has performed relatively well thus far, initially spurred by the (more lucrative) DIY segment, unprecedented miles driven declines have reduced vehicle wear and tear.",
    "output": "[Cause] unprecedented miles driven declines [Relation] cause [Effect] reduced vehicle wear and tear",
    "gold": "[Cause] unprecedented miles driven declines [Relation] cause [Effect] reduced vehicle wear and tear",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After a strong demand environment for analog chips in fiscal 2017 and 2018, macroeconomic concerns and trade tensions caused ADI's revenue in fiscal 2019 to fall 3% while COVID-19 led ADI's revenue to fall another 6.5% in fiscal 2020.",
    "output": "[Cause] macroeconomic concerns and trade tensions [Relation] cause [Effect] ADI's revenue in fiscal 2019 to fall 3%",
    "gold": "[Cause] macroeconomic concerns and trade tensions [Relation] cause [Effect] ADI's revenue in fiscal 2019 to fall 3%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After a strong demand environment for analog chips in fiscal 2017 and 2018, macroeconomic concerns and trade tensions caused ADI's revenue in fiscal 2019 to fall 3% while COVID-19 led ADI's revenue to fall another 6.5% in fiscal 2020.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] fall another 6.5% in fiscal 2020",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] fall another 6.5% in fiscal 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Second, the sheer complexity of developing a stealth multirole fighter jet should not be underestimated, and it remains a steep barrier to entry for all but a few firms.",
    "output": "[Cause] the sheer complexity of developing a stealth multirole fighter jet [Relation] cause [Effect] a steep barrier to entry for all but a few firms",
    "gold": "[Cause] the sheer complexity of developing a stealth multirole fighter jet [Relation] cause [Effect] a steep barrier to entry for all but a few firms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "American Water's diversity of regional footprint means that weaker returns experienced in the short term at any one subsidiary will have only a minor impact on consolidated returns, though regulatory problems at its largest segments in Pennsylvania or New Jersey could be more meaningful.",
    "output": "[Cause] American Water's diversity of regional footprint [Relation] cause [Effect] weaker returns experienced in the short term at any one subsidiary will have only a minor impact on consolidated returns",
    "gold": "[Cause] American Water's diversity of regional footprint [Relation] cause [Effect] weaker returns experienced in the short term at any one subsidiary will have only a minor impact on consolidated returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite the tough environment that brick-and-mortar retail is facing as a result of e-commerce, Realty Income's tenant mix makes it more defensive than other retail REITs.",
    "output": "[Cause] Realty Income's tenant mix [Relation] cause [Effect] it more defensive than other retail REITs",
    "gold": "[Cause] Realty Income's tenant mix [Relation] cause [Effect]  it more defensive than other retail REITs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Second, e-commerce is now a force that is too large for traditional acquirers to ignore, and merchants are increasingly looking for omnichannel solutions.",
    "output": "[Cause] e-commerce is now a force that is too large for traditional acquirers to ignore [Relation] cause [Effect] merchants are increasingly looking for omnichannel solutions",
    "gold": "[Cause] e-commerce is now a force that is too large for traditional acquirers to ignore [Relation] cause [Effect] merchants are increasingly looking for omnichannel solutions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Apple likely could not build the lowest cost phone in the industry as it has to build iOS, rather than use Android for free.",
    "output": "[Cause] it has to build iOS, rather than use Android for free [Relation] cause [Effect] Apple likely could not build the lowest cost phone in the industry",
    "gold": "[Cause] it has to build iOS, rather than use Android for free [Relation] prevent [Effect] Apple likely could not build the lowest cost phone in the industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Coal demand has contracted as utilities substitute renewable energy sources and due to inexpensive natural gas, and we expect the secular diminution of coal to persist.",
    "output": "[Cause] utilities substitute renewable energy sources and due to inexpensive natural gas [Relation] cause [Effect] Coal demand has contracted",
    "gold": "[Cause]  inexpensive natural gas, and we expect the secular diminution of coal to persist [Relation] enable [Effect] Coal demand has contracted as utilities substitute renewable energy sources",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Considering how fragmented the high-end CAD market for product design is, we think this lessens the benefits of CAD and PLM software being taught in graduate programs.",
    "output": "[Cause] how fragmented the high-end CAD market for product design is [Relation] cause [Effect] we think this lessens the benefits of CAD and PLM software being taught in graduate programs",
    "gold": "[Cause] how fragmented the high-end CAD market for product design is [Relation] cause [Effect] we think this lessens the benefits of CAD and PLM software being taught in graduate programs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And while Rogers historically had the top network, a network sharing agreement between BCE and Telus closed the gap and resulted in it leapfrogging Rogers in many ''''''''best network'''''''' surveys.",
    "output": "[Cause] a network sharing agreement between BCE and Telus closed the gap [Relation] cause [Effect] it leapfrogging Rogers in many ''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''",
    "gold": "[Cause] a network sharing agreement between BCE and Telus [Relation] cause [Effect]  leapfrogging Rogers in many ''''''''best network'''''''' surveys",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Accordingly, pandemic-related behavioral changes could permanently change consumer preferences for dining out, which could hurt long-term sales to restaurants if fewer consumers dine in.",
    "output": "[Cause] pandemic-related behavioral changes [Relation] cause [Effect] permanently change consumer preferences for dining out",
    "gold": "[Cause] fewer consumers dine in [Relation] cause [Effect]  hurt long-term sales to restaurants",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Accordingly, pandemic-related behavioral changes could permanently change consumer preferences for dining out, which could hurt long-term sales to restaurants if fewer consumers dine in.",
    "output": "[Cause] pandemic-related behavioral changes [Relation] cause [Effect] permanently change consumer preferences for dining out",
    "gold": "[Cause] pandemic-related behavioral changes [Relation] cause [Effect] permanently change consumer preferences for dining out",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are increasing our fair value estimate to $124 from $110 per share, mainly because of the acceleration in online transactions since the onset of the coronavirus.",
    "output": "[Cause] the acceleration in online transactions since the onset of the coronavirus [Relation] cause [Effect] We are increasing our fair value estimate to $124 from $110 per share",
    "gold": "[Cause] the acceleration in online transactions since the onset of the coronavirus [Relation] cause [Effect] We are increasing our fair value estimate to $124 from $110 per share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Regulatory changes and higher capital requirements have lifted the break-even point, placing most second-tier investment banks in a precarious position.",
    "output": "[Cause] Regulatory changes and higher capital requirements have lifted the break-even point [Relation] cause [Effect] placing most second-tier investment banks in a precarious position",
    "gold": "[Cause] Regulatory changes and higher capital requirements have lifted the break-even point [Relation] cause [Effect] placing most second-tier investment banks in a precarious position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Many contracts include a monthly or yearly flat fee, so a lower number of unplanned interventions will boost contract profitability.",
    "output": "[Cause] Many contracts include a monthly or yearly flat fee [Relation] cause [Effect] a lower number of unplanned interventions will boost contract profitability",
    "gold": "[Cause]  a lower number of unplanned interventions [Relation] enable [Effect] boost contract profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The high cost of failure associated with switching away from CNH Industrial's products increases the likelihood of missing valuable time to plant and harvest crops, ultimately cutting into a farmer's profitability.",
    "output": "[Cause] The high cost of failure associated with switching away from CNH Industrial's products increases the likelihood of missing valuable time to plant and harvest crops [Relation] cause [Effect] cutting into a farmer's profitability",
    "gold": "[Cause] The high cost of failure associated with switching away from CNH Industrial's products increases the likelihood of missing valuable time to plant and harvest crops [Relation] cause [Effect] cutting into a farmer's profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sales could dip if AutoZone cannot expand its commercial profile, but faster-than-expected diversification from (more lucrative) DIY could strain margins.",
    "output": "[Cause] faster-than-expected diversification from (more lucrative) DIY [Relation] cause [Effect] strain margins",
    "gold": "[Cause] faster-than-expected diversification from (more lucrative) DIY [Relation] enable [Effect] strain margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Zendesk moves upstream to larger clients, it will likely need to expand its sales and servicing headcount to deal with more complex issues.",
    "output": "[Cause] Zendesk moves upstream to larger clients [Relation] cause [Effect] it will likely need to expand its sales and servicing headcount to deal with more complex issues",
    "gold": "[Cause] Zendesk moves upstream to larger clients [Relation] cause [Effect] it will likely need to expand its sales and servicing headcount to deal with more complex issues",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since then, it has added features to the existing products and introduced solutions, making Zendesk appropriate for more sophisticated use cases at increasingly large customers.",
    "output": "[Cause] added features to the existing products and introduced solutions [Relation] enable [Effect] Zendesk appropriate for more sophisticated use cases at increasingly large customers",
    "gold": "[Cause] added features to the existing products and introduced solutions [Relation] enable [Effect] Zendesk appropriate for more sophisticated use cases at increasingly large customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Recessionary conditions typically weigh on both factors at once, with fewer houses built and fewer goods being packed and shipped in containerboard.",
    "output": "[Cause] fewer houses built and fewer goods being packed and shipped in containerboard [Relation] cause [Effect] Recessionary conditions typically weigh on both factors at once",
    "gold": "[Cause] fewer houses built and fewer goods being packed and shipped in containerboard [Relation] cause [Effect] Recessionary conditions typically weigh on both factors at once",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Certain economies that have reopened have seen a surge in cases, and it is possible that some of the encouraging retail data we have seen recently could reverse if shutdowns are required once again.",
    "output": "[Cause] shutdowns are required once again [Relation] cause [Effect] some of the encouraging retail data we have seen recently could reverse",
    "gold": "[Cause] shutdowns are required once again [Relation] cause [Effect] some of the encouraging retail data we have seen recently could reverse",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The prevalence of e-commerce has eliminated the need to secure expensive shelf space from retailers, and social media has made it more cost-effective to reach consumers with a brand message.",
    "output": "[Cause] social media [Relation] enable [Effect] it more cost-effective to reach consumers with a brand message",
    "gold": "[Cause] The prevalence of e-commerce [Relation] enable [Effect] more cost-effective to reach consumers with a brand message",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "On balance, the ongoing pandemic will likely be a net negative, though expanded capacity of COVID-19 testing in 2021 could offset, to some extent, temporary headwinds of lab shutdowns and research cuts.",
    "output": "[Cause] expanded capacity of COVID-19 testing in 2021 [Relation] prevent [Effect] temporary headwinds of lab shutdowns and research cuts",
    "gold": "[Cause] expanded capacity of COVID-19 testing in 2021 [Relation] prevent [Effect] temporary headwinds of lab shutdowns and research cuts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The biggest ESG risk we see revolves around broadband's essential function in society, which means regulators may take a heavy hand in ensuring providers reach all residents for reasonable prices--potentially limiting pricing power and forcing higher spending even when it doesn't make economic sense.",
    "output": "[Cause] regulators may take a heavy hand in ensuring providers reach all residents for reasonable prices [Relation] cause [Effect] limiting pricing power and forcing higher spending even when it doesn't make economic sense",
    "gold": "[Cause] regulators may take a heavy hand [Relation] enable [Effect] ensuring providers reach all residents for reasonable prices--potentially",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Due to restrictions due to the virus and temporary and permanent store closures, we forecast digital will account for 56% of Nordstrom's 2020 sales.",
    "output": "[Cause] restrictions due to the virus and temporary and permanent store closures [Relation] cause [Effect] digital will account for 56% of Nordstrom's 2020 sales",
    "gold": "[Cause]  restrictions due to the virus and temporary and permanent store closures [Relation] cause [Effect] digital will account for 56% of Nordstrom's 2020 sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Increasing route density and pushing the higher margin carryout business continue to remain important moving forward, with competition for labor only likely to intensify (pushing wages higher) as delivery channel penetration increases.",
    "output": "[Cause] delivery channel penetration increases [Relation] cause [Effect] competition for labor only likely to intensify (pushing wages higher)",
    "gold": "[Cause] delivery channel penetration increases [Relation] cause [Effect] competition for labor only likely to intensify (pushing wages higher)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Basic pay-television service rates have continued to increase, which could cause consumers to cancel their subscriptions or reduce their level of service.",
    "output": "[Cause] Basic pay-television service rates have continued to increase [Relation] cause [Effect] consumers to cancel their subscriptions or reduce their level of service",
    "gold": "[Cause] Basic pay-television service rates have continued to increase [Relation] prevent [Effect] consumers to cancel their subscriptions or reduce their level of service",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firms do not have large fixed-cost bases because they are not manufacturers and have no burdensome retiree expenses, and as a used-vehicle retailer, CarMax does not rely on one brand.",
    "output": "[Cause] they are not manufacturers and have no burdensome retiree expenses, and as a used-vehicle retailer, CarMax does not rely on one brand [Relation] cause [Effect] The firms do not have large fixed-cost bases",
    "gold": "[Cause] they are not manufacturers and have no burdensome retiree expenses, and as a used-vehicle retailer, CarMax does not rely on one brand [Relation] cause [Effect] The firms do not have large fixed-cost bases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In a rising interest-rate environment, consumers could be less willing to finance their vehicle purchases, resulting in shrinking demand for ATVs.",
    "output": "[Cause] In a rising interest-rate environment [Relation] cause [Effect] consumers could be less willing to finance their vehicle purchases",
    "gold": "[Cause] In a rising interest-rate environment [Relation] cause [Effect] consumers could be less willing to finance their vehicle purchases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In a rising interest-rate environment, consumers could be less willing to finance their vehicle purchases, resulting in shrinking demand for ATVs.",
    "output": "[Cause] consumers could be less willing to finance their vehicle purchases [Relation] cause [Effect] shrinking demand for ATVs",
    "gold": "[Cause] consumers could be less willing to finance their vehicle purchases [Relation] cause [Effect] shrinking demand for ATVs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, the firm is focusing on creators, as it can help them learn more about their fans, more effectively plan the location and timing of their events, sell a variety of artist merchandise, and overall become more easily and quickly recognizable.",
    "output": "[Cause] it can help them learn more about their fans, more effectively plan the location and timing of their events, sell a variety of artist merchandise, and overall become more easily and quickly recognizable [Relation] cause [Effect] the firm is focusing on creators",
    "gold": "[Cause] it can help them learn more about their fans, more effectively plan the location and timing of their events, sell a variety of artist merchandise, and overall become more easily and quickly recognizable [Relation] cause [Effect] the firm is focusing on creators",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe this scale is vital, as it allows a grocer to leverage distribution and advertising costs in a way that smaller competitors cannot.",
    "output": "[Cause] it allows a grocer to leverage distribution and advertising costs in a way that smaller competitors cannot [Relation] cause [Effect] this scale is vital",
    "gold": "[Cause] it allows a grocer to leverage distribution and advertising costs in a way that smaller competitors cannot [Relation] cause [Effect]  this scale is vital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Dick's has slowed its pace of store openings because they are becoming less productive and its store expansion strategy has not worked.",
    "output": "[Cause] they are becoming less productive and its store expansion strategy has not worked [Relation] cause [Effect] Dick's has slowed its pace of store openings",
    "gold": "[Cause] they are becoming less productive and its store expansion strategy has not worked [Relation] cause [Effect] Dick's has slowed its pace of store openings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Demand for chip-embedded devices fluctuates over time and thus equipment for manufacturing does as well. As a result, at the bottom of a cycle chipmakers tend to significantly curtail capital expenditures and firms such as Applied are financially afflicted.",
    "output": "[Cause] Demand for chip-embedded devices fluctuates over time and thus equipment for manufacturing does as well [Relation] cause [Effect] at the bottom of a cycle chipmakers tend to significantly curtail capital expenditures and firms such as Applied are financially afflicted",
    "gold": "[Cause] Demand for chip-embedded devices fluctuates over time and thus equipment for manufacturing does as well [Relation] cause [Effect] at the bottom of a cycle chipmakers tend to significantly curtail capital expenditures and firms such as Applied are financially afflicted",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, we believe pricing gains will be bound by the lack of new cruisers over the near term, as those potential customers could opt for more safely perceived land-based vacations given the recent media hype.",
    "output": "[Cause] the lack of new cruisers over the near term [Relation] cause [Effect] pricing gains will be bound",
    "gold": "[Cause] those potential customers could opt for more safely perceived land-based vacations [Relation] cause [Effect] pricing gains will be bound by the lack of new cruisers over the near term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, we believe pricing gains will be bound by the lack of new cruisers over the near term, as those potential customers could opt for more safely perceived land-based vacations given the recent media hype.",
    "output": "[Cause] the recent media hype [Relation] cause [Effect] those potential customers could opt for more safely perceived land-based vacations",
    "gold": "[Cause] the lack of new cruisers [Relation] prevent [Effect]  pricing gains",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, we believe pricing gains will be bound by the lack of new cruisers over the near term, as those potential customers could opt for more safely perceived land-based vacations given the recent media hype.",
    "output": "[Cause] the recent media hype [Relation] cause [Effect] those potential customers could opt for more safely perceived land-based vacations",
    "gold": "[Cause]  the recent media hype [Relation] cause [Effect] those potential customers could opt for more safely perceived land-based vacations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With its marketing operations, Enterprise takes ownership of the hydrocarbon and seeks to exploit differentials based on time, location, or product arbitrage across the hundreds of connection points across Enterprise's system.",
    "output": "[Cause] its marketing operations [Relation] enable [Effect] Enterprise takes ownership of the hydrocarbon and seeks to exploit differentials based on time, location, or product arbitrage across the hundreds of connection points across Enterprise's system",
    "gold": "[Cause] its marketing operations [Relation] enable [Effect] Enterprise takes ownership of the hydrocarbon and seeks to exploit differentials based on time, location, or product arbitrage across the hundreds of connection points across Enterprise's system",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These efforts have also resulted in an impressive 27-percentage-point gross margin improvement as Edwards shifted to higher-margin transcatheter heart valve products.",
    "output": "[Cause] Edwards shifted to higher-margin transcatheter heart valve products [Relation] cause [Effect] These efforts have also resulted in an impressive 27-percentage-point gross margin improvement",
    "gold": "[Cause] Edwards shifted to higher-margin transcatheter heart valve products [Relation] enable [Effect] These efforts have also resulted in an impressive 27-percentage-point gross margin improvement",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Regulatory approval on crude expansion projects also prevents competitors from undertaking expansion projects without necessary approval, acting as an intangible asset for Enbridge on its Mainline operations.",
    "output": "[Cause] Regulatory approval on crude expansion projects [Relation] prevent [Effect] competitors from undertaking expansion projects without necessary approval",
    "gold": "[Cause] Regulatory approval on crude expansion projects [Relation] prevent [Effect]  competitors from undertaking expansion projects without necessary approval",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Scale should come with cost leverage as growth investments bear fruit, and over the next decade, the unit should post adjusted EBITDA margins near its high-teens mark through the first nine months of fiscal 2021.",
    "output": "[Cause] growth investments bear fruit [Relation] cause [Effect] Scale should come with cost leverage",
    "gold": "[Cause] Scale should come with cost leverage as growth investments bear frui [Relation] enable [Effect]  over the next decade, the unit should post adjusted EBITDA margins near its high-teens mark through the first nine months of fiscal 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We model wholesale revenues to slightly decrease after 2021, which will be more than offset by an increase in retail service revenues.",
    "output": "[Cause] an increase in retail service revenues [Relation] prevent [Effect] wholesale revenues to slightly decrease after 2021",
    "gold": "[Cause] an increase in retail service revenues [Relation] prevent [Effect] wholesale revenues to slightly decrease after 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nordstrom's results, however, suggest e-commerce entails extra costs as reported SG&A as a percentage of sales has been rising as e-commerce has grown.",
    "output": "[Cause] a percentage of sales has been rising [Relation] cause [Effect] e-commerce entails extra costs",
    "gold": "[Cause] e-commerce has grown [Relation] cause [Effect] a percentage of sales has been rising",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the trillions of dollars of assets serviced by Northern Trust, we believe operational risk is something investors should keep an eye on.",
    "output": "[Cause] the trillions of dollars of assets serviced by Northern Trust [Relation] cause [Effect] operational risk is something investors should keep an eye on",
    "gold": "[Cause] the trillions of dollars of assets serviced by Northern Trust [Relation] cause [Effect] operational risk is something investors should keep an eye on",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If monoclonal antibody biosimilars are quickly approved and accepted by insurers, physicians, and patients, Roche will experience significant overall top-line pressure as key products Rituxan, Avastin, and Herceptin succumb to competition.",
    "output": "[Cause] key products Rituxan, Avastin, and Herceptin succumb to competition [Relation] cause [Effect] Roche will experience significant overall top-line pressure",
    "gold": "[Cause] key products Rituxan, Avastin, and Herceptin succumb to competition [Relation] cause [Effect] Roche will experience significant overall top-line pressure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Key patents on Gilead's top marketed HIV products will expire by 2021, and the firm will need to see significant switching to newer products like Biktarvy to counter the negative impact from generic competitors.",
    "output": "[Cause] the firm will need to see significant switching to newer products like Biktarvy [Relation] prevent [Effect] the negative impact from generic competitors",
    "gold": "[Cause] counter the negative impact from generic competitors [Relation] cause [Effect] see significant switching to newer products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The Talison operation is one of the highest-quality spodumene deposits and sits on the low end of the lithium hydroxide cost curve, owing to its geological advantage.",
    "output": "[Cause] its geological advantage [Relation] cause [Effect] sits on the low end of the lithium hydroxide cost curve",
    "gold": "[Cause] its geological advantage [Relation] cause [Effect]  sits on the low end of the lithium hydroxide cost curve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We rate CyrusOne as high uncertainty because we think it has built a good business that can thrive with current industry tailwinds but is exposed if the environment weakens, leaving the firm overextended.",
    "output": "[Cause] it has built a good business that can thrive with current industry tailwinds but is exposed if the environment weakens, leaving the firm overextended [Relation] cause [Effect] We rate CyrusOne as high uncertainty",
    "gold": "[Cause] it has built a good business that can thrive with current industry tailwinds but is exposed if the environment weakens, leaving the firm overextended [Relation] cause [Effect] We rate CyrusOne as high uncertainty",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our forecast has increases in charge-offs in 2021 due to the COVID-19-driven downturn even as provisioning begins to fade back to normal as the bank has already built up excess reserves from 2020.",
    "output": "[Cause] the bank has already built up excess reserves from 2020 [Relation] cause [Effect] provisioning begins to fade back to normal",
    "gold": "[Cause] the bank has already built up excess reserves from 2020 [Relation] cause [Effect] provisioning begins to fade back to normal",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the very similar business models shared by both Anixter and Wesco, we knew that significant cost synergies could be had, but Wesco has exceeded our expectations, both in terms of organic gross margin expansion and the speed of which it has realized deal-related cost synergies.",
    "output": "[Cause] the very similar business models shared by both Anixter and Wesco [Relation] cause [Effect] significant cost synergies could be had",
    "gold": "[Cause]  the very similar business models shared by both Anixter and Wesco [Relation] cause [Effect] significant cost synergies could be had",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We recently removed a Japan resort from our model, after Las Vegas Sands announced the framework around developing a gaming property in Yokohama became unreachable.",
    "output": "[Cause] Las Vegas Sands announced the framework around developing a gaming property in Yokohama became unreachable [Relation] cause [Effect] We recently removed a Japan resort from our model",
    "gold": "[Cause] Las Vegas Sands announced the framework around developing a gaming property in Yokohama became unreachable [Relation] cause [Effect] We recently removed a Japan resort from our model",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Like other medical device companies, Stryker is exposed to product failures and recalls that can result in hefty legal fees and inventory write-offs.",
    "output": "[Cause] product failures and recalls [Relation] cause [Effect] hefty legal fees and inventory write-offs",
    "gold": "[Cause]  product failures and recalls [Relation] cause [Effect] hefty legal fees and inventory write-offs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the fixed costs inherent in a data-intensive business, Equifax has been able to enjoy strong operating leverage from incremental revenue.",
    "output": "[Cause] the fixed costs inherent in a data-intensive business [Relation] enable [Effect] Equifax has been able to enjoy strong operating leverage from incremental revenue",
    "gold": "[Cause] the fixed costs inherent in a data-intensive business [Relation] cause [Effect] Equifax has been able to enjoy strong operating leverage from incremental revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Should similar beverage trends play out in other regions, we would expect to see a negative impact on revenue and profit margins.",
    "output": "[Cause] similar beverage trends play out in other regions [Relation] cause [Effect] a negative impact on revenue and profit margins",
    "gold": "[Cause] similar beverage trends play out in other regions [Relation] cause [Effect] a negative impact on revenue and profit margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This offshore downturn has created a glut of offshore drilling rigs, and consequently, we don't expect any large orders for these rigs for National Oilwell Varco in the next decade.",
    "output": "[Cause] This offshore downturn has created a glut of offshore drilling rigs [Relation] cause [Effect] we don't expect any large orders for these rigs for National Oilwell Varco in the next decade",
    "gold": "[Cause] This offshore downturn has created a glut of offshore drilling rigs [Relation] cause [Effect] we don't expect any large orders for these rigs for National Oilwell Varco in the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also think the settlement provides a positive indicator that the regulatory environment in North Carolina will remain constructive, key given the importance of the Carolinas to Duke's financial outlook.",
    "output": "[Cause] the importance of the Carolinas to Duke's financial outlook [Relation] cause [Effect] the settlement provides a positive indicator that the regulatory environment in North Carolina will remain constructive",
    "gold": "[Cause] the importance of the Carolinas to Duke's financial outlook [Relation] cause [Effect] the settlement provides a positive indicator that the regulatory environment in North Carolina will remain constructive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that the sale of the valves and controls unit has reduced cyclicality, as that segment had a large exposure to oil and gas prices.",
    "output": "[Cause] segment had a large exposure to oil and gas prices [Relation] cause [Effect] the sale of the valves and controls unit has reduced cyclicality",
    "gold": "[Cause] the sale of the valves and controls unit [Relation] cause [Effect] reduced cyclicality",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "About $9 of our fair value estimate is attributable to the cash equity income of the company's many equity method investments.",
    "output": "[Cause] the cash equity income of the company's many equity method investments [Relation] cause [Effect] About $9 of our fair value estimate",
    "gold": "[Cause] the cash equity income of the company's many equity method investments [Relation] cause [Effect] About $9 of our fair value estimate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Agco is also exposed to environmental regulation, largely stemming from the environmental impact that agricultural machines have on soil and water quality.",
    "output": "[Cause] the environmental impact that agricultural machines have on soil and water quality [Relation] cause [Effect] Agco is also exposed to environmental regulation",
    "gold": "[Cause] the environmental impact that agricultural machines have on soil and water quality [Relation] cause [Effect] Agco is also exposed to environmental regulation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, Welltower will benefit from these industry tailwinds because of its portfolio of high-quality assets connected to top operators in the senior housing, skilled nursing facilities, and medical office buildings segments.",
    "output": "[Cause] its portfolio of high-quality assets connected to top operators in the senior housing, skilled nursing facilities, and medical office buildings segments [Relation] cause [Effect] Welltower will benefit from these industry tailwinds",
    "gold": "[Cause] its portfolio of high-quality assets connected to top operators in the senior housing, skilled nursing facilities, and medical office buildings segments [Relation] cause [Effect] Welltower will benefit from these industry tailwinds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While PVH can cut some expenses (we forecast a 13% decline in selling, general, and administrative expenses in 2020), we believe the sales decline will affect margins and forecast an adjusted operating loss (negative 1% margin).",
    "output": "[Cause] the sales decline [Relation] cause [Effect] affect margins and forecast an adjusted operating loss (negative 1% margin)",
    "gold": "[Cause] PVH can cut some expenses [Relation] prevent [Effect] sales decline will affect margins and forecast an adjusted operating loss",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Network effects have played a big role in its dominance, as proprietary computer software has been written specifically for the x86 architecture, leading to significant switching costs to shift architectures.",
    "output": "[Cause] proprietary computer software has been written specifically for the x86 architecture [Relation] cause [Effect] significant switching costs to shift architectures",
    "gold": "[Cause] proprietary computer software has been written specifically for the x86 architecture [Relation] cause [Effect] significant switching costs to shift architectures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ease of use, a large expert support community, and an emerging developer ecosystem combine to make Shopify's platform attractive to users of all sizes.",
    "output": "[Cause] Ease of use, a large expert support community, and an emerging developer ecosystem [Relation] enable [Effect] Shopify's platform attractive to users of all sizes",
    "gold": "[Cause] Ease of use, a large expert support community, and an emerging developer ecosystem [Relation] cause [Effect] Shopify's platform attractive to users of all sizes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We contend this proximity generates a virtuous cycle where proximity leads to better service, which leads to more orders, which incentivizes delivery drivers to work for Domino's as they will get more deliveries.",
    "output": "[Cause] proximity [Relation] cause [Effect] better service",
    "gold": "[Cause] proximity [Relation] cause [Effect]  better service",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In exchange for earning a fair return for its shareholders, utilities are expected to provide safe and reliable service at just and reasonable rates.",
    "output": "[Cause] utilities are expected to provide safe and reliable service at just and reasonable rates [Relation] enable [Effect] earning a fair return for its shareholders",
    "gold": "[Cause] utilities are expected to provide safe and reliable service at just and reasonable rates [Relation] cause [Effect]  earning a fair return for its shareholders",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A drug's 20-year patent generally begins at discovery, which means that clinical trials consume a significant portion of what could otherwise be patent-protected profits.",
    "output": "[Cause] A drug's 20-year patent generally begins at discovery [Relation] cause [Effect] clinical trials consume a significant portion of what could otherwise be patent-protected profits",
    "gold": "[Cause] clinical trials consume a significant portion of [Relation] cause [Effect]  otherwise be patent-protected profits",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "It has strategically acquired and developed assets in submarkets with strong demand drivers, creating a portfolio with average location population density and median household income higher than any other retail REIT. As a result, Federal Realty has been able to drive strong same-store net operating income growth and average double-digit re-leasing spreads over the past two decades.",
    "output": "[Cause] It has strategically acquired and developed assets in submarkets with strong demand drivers, creating a portfolio with average location population density and median household income higher than any other retail REIT [Relation] cause [Effect] Federal Realty has been able to drive strong same-store net operating income growth and average double-digit re-leasing spreads over the past two decades",
    "gold": "[Cause] It has strategically acquired and developed assets in submarkets with strong demand drivers, creating a portfolio with average location population density and median household income higher than any other retail REIT [Relation] cause [Effect] Federal Realty has been able to drive strong same-store net operating income growth and average double-digit re-leasing spreads over the past two decades",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Boston Beer's traditional brewing process and more expensive raw materials contribute to its significantly higher average cost structure, and distort the analysis, in our view.",
    "output": "[Cause] Boston Beer's traditional brewing process and more expensive raw materials [Relation] cause [Effect] its significantly higher average cost structure, and distort the analysis",
    "gold": "[Cause]  its significantly higher average cost structure, and distort the analysis [Relation] cause [Effect] Boston Beer's traditional brewing process and more expensive raw materials",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm doesn't have many ESG-related risks, but it's worth noting that its efficiency in tax-avoidance strategies could make the company a target for regulators.",
    "output": "[Cause] its efficiency in tax-avoidance strategies [Relation] enable [Effect] make the company a target for regulators",
    "gold": "[Cause] its efficiency in tax-avoidance strategies [Relation] cause [Effect] make the company a target for regulators",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In an approach to alleviate the issues with these complex projects that can rely on a patchwork of solutions, Palantir rotates its software engineers between field and development efforts to gain insight about customer and industry-specific challenges that can strengthen its platforms' capabilities.",
    "output": "[Cause] Palantir rotates its software engineers between field and development efforts [Relation] enable [Effect] alleviate the issues with these complex projects that can rely on a patchwork of solutions",
    "gold": "[Cause] can rely on a patchwork of solutions, Palantir rotates its software engineers between field and development efforts to gain insight about customer and industry-specific challenges [Relation] enable [Effect] can strengthen its platforms' capabilities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In an approach to alleviate the issues with these complex projects that can rely on a patchwork of solutions, Palantir rotates its software engineers between field and development efforts to gain insight about customer and industry-specific challenges that can strengthen its platforms' capabilities.",
    "output": "[Cause] Palantir rotates its software engineers between field and development efforts [Relation] enable [Effect] gain insight about customer and industry-specific challenges that can strengthen its platforms' capabilities",
    "gold": "[Cause] alleviate the issues with these complex projects [Relation] enable [Effect] can rely on a patchwork of solutions, Palantir rotates its software engineers between field and development efforts to gain insight about customer and industry-specific challenges",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Annual run-rate synergies of $500 million seems achievable given the proximity of mines that will allow for significant cost and capital spending synergies.",
    "output": "[Cause] the proximity of mines that will allow for significant cost and capital spending synergies [Relation] cause [Effect] Annual run-rate synergies of $500 million seems achievable",
    "gold": "[Cause]  the proximity of mines that will allow for significant cost and capital spending synergies [Relation] enable [Effect] Annual run-rate synergies of $500 million seems achievable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, recent acquisitions of medical companies have boosted Nordson's recurring revenue from sales of syringes, cartridges, and other medical device components.",
    "output": "[Cause] recent acquisitions of medical companies [Relation] enable [Effect] boosted Nordson's recurring revenue from sales of syringes, cartridges, and other medical device components",
    "gold": "[Cause]  recent acquisitions of medical companies [Relation] enable [Effect]  boosted Nordson's recurring revenue from sales of syringes, cartridges, and other medical device components",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From a business ethics and product governance perspective, failure to provide reliable and trustworthy services can impact both reputation and financial performance, so asset managers like BlackRock tend to be more careful with how they manage the pricing, performance, and positioning of their products.",
    "output": "[Cause] failure to provide reliable and trustworthy services [Relation] cause [Effect] impact both reputation and financial performance",
    "gold": "[Cause] failure to provide reliable and trustworthy services can impact both reputation and financial performance [Relation] cause [Effect] asset managers like BlackRock tend to be more careful with how they manage the pricing, performance, and positioning of their products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "During the past five years, unit sales have fallen 3% annually on average, so our secular growth prospects for the industry lie largely within international growth opportunities, as North America still represents about 70% of BRP's total sales.",
    "output": "[Cause] North America still represents about 70% of BRP's total sales [Relation] cause [Effect] our secular growth prospects for the industry lie largely within international growth opportunities",
    "gold": "[Cause] North America still represents about 70% of BRP's total sales [Relation] cause [Effect] our secular growth prospects for the industry lie largely within international growth opportunities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, we think Under Armour will struggle to gain any advantage as its marketing and research and development budgets cannot match those of some competitors.",
    "output": "[Cause] its marketing and research and development budgets cannot match those of some competitors [Relation] cause [Effect] Under Armour will struggle to gain any advantage",
    "gold": "[Cause]  its marketing and research and development budgets cannot match those of some competitors [Relation] cause [Effect]  Under Armour will struggle to gain any advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In many cases, the subcomponent is tied to a critical function of the product, such as a missile targeting system, an aircraft's power system, or a ship's communication system, which we think reduces the probability of a customer switching to an alternative supplier.",
    "output": "[Cause] the subcomponent is tied to a critical function of the product [Relation] cause [Effect] reduces the probability of a customer switching to an alternative supplier",
    "gold": "[Cause] the subcomponent is tied to a critical function of the product [Relation] cause [Effect]  reduces the probability of a customer switching to an alternative supplier",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A substantial loss of market share in any major segment, coupled with a contraction in net interest margins, would diminish net interest income.",
    "output": "[Cause] A substantial loss of market share in any major segment, coupled with a contraction in net interest margins [Relation] cause [Effect] diminish net interest income",
    "gold": "[Cause] A substantial loss of market share in any major segment, coupled with a contraction in net interest margins [Relation] cause [Effect] diminish net interest income",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of its wide geographical footprint, Citigroup should remain a bank of choice for global corporations, thanks to its ability to provide a variety of services across borders.",
    "output": "[Cause] its wide geographical footprint [Relation] cause [Effect] Citigroup should remain a bank of choice for global corporations",
    "gold": "[Cause] its wide geographical footprint [Relation] cause [Effect] Citigroup should remain a bank of choice for global corporations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of its wide geographical footprint, Citigroup should remain a bank of choice for global corporations, thanks to its ability to provide a variety of services across borders.",
    "output": "[Cause] its ability to provide a variety of services across borders [Relation] cause [Effect] Citigroup should remain a bank of choice for global corporations",
    "gold": "[Cause]  its ability to provide a variety of services across borders [Relation] cause [Effect] Citigroup should remain a bank of choice for global corporations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our expectations would continue a historical trend as Workday has already gone from services constituting 34% of revenue in 2012 to now 12% in 2021.",
    "output": "[Cause] Workday has already gone from services constituting 34% of revenue in 2012 to now 12% in 2021 [Relation] cause [Effect] Our expectations would continue a historical trend",
    "gold": "[Cause] Workday has already gone from services constituting 34% of revenue in 2012 to now 12% in 2021 [Relation] cause [Effect] Our expectations would continue a historical trend",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we do think there is a valid strategic rationale for these deals, and the introduction of First Data's acquiring business should boost overall long-term growth, given the secular long-term tailwind the business enjoys.",
    "output": "[Cause] the introduction of First Data's acquiring business [Relation] enable [Effect] boost overall long-term growth",
    "gold": "[Cause] the secular long-term tailwind the business enjoys [Relation] cause [Effect] there is a valid strategic rationale for these deals, and the introduction of First Data's acquiring business should boost overall long-term growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Corning invented this industry, and after five decades of innovation, we think Corning possesses intangible assets in ceramic substrate and filter production that have resulted in its leading share.",
    "output": "[Cause] Corning possesses intangible assets in ceramic substrate and filter production [Relation] cause [Effect] its leading share",
    "gold": "[Cause] Corning possesses intangible assets in ceramic substrate and filter production [Relation] enable [Effect]  its leading share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the fertilizer side, we think prices will decline as SOP prices eventually reflect marginal costs of production, which have declined recently with the drop in MOP prices.",
    "output": "[Cause] SOP prices eventually reflect marginal costs of production [Relation] cause [Effect] prices will decline",
    "gold": "[Cause] the drop in MOP prices [Relation] cause [Effect] have declined recently",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The coronavirus pandemic has only heightened this impact, as many nonessential stores have temporarily closed and seen a lower volume of sales when they reopened.",
    "output": "[Cause] many nonessential stores have temporarily closed and seen a lower volume of sales when they reopened [Relation] cause [Effect] The coronavirus pandemic has only heightened this impact",
    "gold": "[Cause] many nonessential stores have temporarily closed and seen a lower volume of sales when they reopened [Relation] cause [Effect] The coronavirus pandemic has only heightened this impact",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We recognize that there are serious uncertainties in this aviation demand forecast and that there is the potential for declining business travel prospects to limit a rebound in aviation.",
    "output": "[Cause] there is the potential for declining business travel prospects [Relation] prevent [Effect] a rebound in aviation",
    "gold": "[Cause]  there is the potential for declining business travel prospects [Relation] prevent [Effect]  a rebound in aviation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To improve small and medium-size enterprise ad revenue, Weibo is expanding into untapped and faster-growing verticals such as Taobao merchants, online education, and online gaming by restructuring its sales team since 2019.",
    "output": "[Cause] Weibo is expanding into untapped and faster-growing verticals such as Taobao merchants, online education, and online gaming by restructuring its sales team since 2019 [Relation] enable [Effect] improve small and medium-size enterprise ad revenue",
    "gold": "[Cause]  improve small and medium-size enterprise ad revenue [Relation] cause [Effect] Weibo is expanding into untapped and faster-growing verticals",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We project VMware growing around the high-single-digit or low-double-digit range due to strong demand for VMware's hybrid cloud ecosystems and networking solutions, in addition to cross-selling opportunities.",
    "output": "[Cause] strong demand for VMware's hybrid cloud ecosystems and networking solutions, in addition to cross-selling opportunities [Relation] cause [Effect] VMware growing around the high-single-digit or low-double-digit range",
    "gold": "[Cause] strong demand for VMware's hybrid cloud ecosystems and networking solutions, in addition to cross-selling opportunities [Relation] cause [Effect]  VMware growing around the high-single-digit or low-double-digit range",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that Compass already has existing brine ponds and supporting infrastructure, we think the project will carry a relatively low capital intensity compared with a greenfield lithium project.",
    "output": "[Cause] Compass already has existing brine ponds and supporting infrastructure [Relation] cause [Effect] the project will carry a relatively low capital intensity compared with a greenfield lithium project",
    "gold": "[Cause] Compass already has existing brine ponds and supporting infrastructure [Relation] cause [Effect]  the project will carry a relatively low capital intensity compared with a greenfield lithium project",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe stringent emissions standards will lead to increased adoption of components that enable lower vehicle emissions, such as the aftertreatment systems, filtration products, and fuel systems that Cummins' provides.",
    "output": "[Cause] stringent emissions standards [Relation] cause [Effect] increased adoption of components that enable lower vehicle emissions",
    "gold": "[Cause] stringent emissions standards [Relation] cause [Effect] increased adoption of components that enable lower vehicle emissions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management estimates that it can add 2 million households to the Keurig ecosystem, but we believe the lifetime value of these households could deteriorate in the longer term as competition intensifies.",
    "output": "[Cause] competition intensifies [Relation] cause [Effect] the lifetime value of these households could deteriorate in the longer term",
    "gold": "[Cause] competition intensifies [Relation] cause [Effect] the lifetime value of these households could deteriorate in the longer term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we don't foresee consolidation with large biopharma to have a significant impact in the long-term due to a diverse client base that includes small, midsize, and large biotech clients.",
    "output": "[Cause] a diverse client base that includes small, midsize, and large biotech clients [Relation] cause [Effect] we don't foresee consolidation with large biopharma to have a significant impact in the long-term",
    "gold": "[Cause] a diverse client base that includes small, midsize, and large biotech clients [Relation] cause [Effect] we don't foresee consolidation with large biopharma to have a significant impact in the long-term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate a return to normalcy in fiscal 2022, at which point an unsettled retail environment with intense competition from physical and digital sellers in a sector with negligible switching costs will pose the primary risk to our outlook.",
    "output": "[Cause] an unsettled retail environment with intense competition from physical and digital sellers in a sector with negligible switching costs [Relation] cause [Effect] pose the primary risk to our outlook",
    "gold": "[Cause] a return to normalcy in fiscal 2022 [Relation] cause [Effect] point an unsettled retail environment with intense competition from physical and digital sellers in a sector with negligible switching costs will pose the primary risk to our outlook",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "RH remains tied to housing and equity market conditions and weakness in spending could lead to wide swings in profits (however, low interest rates could support spending over the near term).",
    "output": "[Cause] weakness in spending [Relation] cause [Effect] wide swings in profits",
    "gold": "[Cause] weakness in spending [Relation] cause [Effect] wide swings in profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Corning has high operating leverage, with over half its costs across the business being fixed in the short term.",
    "output": "[Cause] over half its costs across the business being fixed in the short term [Relation] cause [Effect] Corning has high operating leverage",
    "gold": "[Cause]  high operating leverage [Relation] enable [Effect] its costs across the business being fixed in the short term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "BASF faces somewhat higher risks than other chemical firms because of its agricultural chemicals business, where products can be linked to environmental concerns.",
    "output": "[Cause] its agricultural chemicals business, where products can be linked to environmental concerns [Relation] cause [Effect] BASF faces somewhat higher risks than other chemical firms",
    "gold": "[Cause] its agricultural chemicals business, where products can be linked to environmental concerns [Relation] cause [Effect] BASF faces somewhat higher risks than other chemical firms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast Kors' annual sales in EMEA over the next decade will remain below prepandemic levels as the European handbag market is saturated with native European brands.",
    "output": "[Cause] the European handbag market is saturated with native European brands [Relation] cause [Effect] Kors' annual sales in EMEA over the next decade will remain below prepandemic levels",
    "gold": "[Cause] the European handbag market is saturated with native European brands [Relation] cause [Effect] Kors' annual sales in EMEA over the next decade will remain below prepandemic levels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Beyond those intangible assets in the services business, we think scale-related factors lead to cost advantages and negotiating power versus key payers that help Fresenius generate economic profits.",
    "output": "[Cause] cost advantages and negotiating power versus key payers [Relation] enable [Effect] Fresenius generate economic profits",
    "gold": "[Cause] cost advantages and negotiating power versus key payers [Relation] enable [Effect]  Fresenius generate economic profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think, though, that a greater emphasis on its direct-to-consumer business is important for the competitive position of its brand as department stores and other retailers have become too reliant on discounting.",
    "output": "[Cause] department stores and other retailers have become too reliant on discounting [Relation] cause [Effect] a greater emphasis on its direct-to-consumer business is important for the competitive position of its brand",
    "gold": "[Cause] department stores and other retailers have become too reliant on discounting [Relation] cause [Effect] a greater emphasis on its direct-to-consumer business is important for the competitive position of its brand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, predicting if and when the delayed healthcare services come back into the system could be fraught with error that leads to mispricing of insurance policies for 2021.",
    "output": "[Cause] predicting if and when the delayed healthcare services come back into the system could be fraught with error [Relation] cause [Effect] mispricing of insurance policies for 2021",
    "gold": "[Cause] predicting if and when the delayed healthcare services come back into the system could be fraught with error [Relation] cause [Effect] mispricing of insurance policies for 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Full game downloads as a percentage of total units have increased from 20% in fiscal 2015 to 49% in fiscal 2020 as console gamers are beginning to mimic their PC counterparts who largely buy games digitally.",
    "output": "[Cause] console gamers are beginning to mimic their PC counterparts who largely buy games digitally [Relation] cause [Effect] Full game downloads as a percentage of total units have increased from 20% in fiscal 2015 to 49% in fiscal 2020",
    "gold": "[Cause] console gamers are beginning to mimic their PC counterparts who largely buy games digitally [Relation] cause [Effect] Full game downloads as a percentage of total units have increased from 20% in fiscal 2015 to 49% in fiscal 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Enterprises are dependent on networks and are therefore drawn to data centers where many networks are connected, and network providers are most attracted to data centers that have many enterprises, which provide a large potential customer base.",
    "output": "[Cause] Enterprises are dependent on networks [Relation] cause [Effect] drawn to data centers where many networks are connected",
    "gold": "[Cause] Enterprises are dependent on networks [Relation] cause [Effect] drawn to data centers where many networks are connected",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The toy industry was historically more capital-intensive than traditional retailing, given manufacturing demands, but Hasbro has embarked on an asset light strategy over the past decade (as of 2015, Hasbro no longer manufactured its own product, divesting its last facilities to Cartamundi).",
    "output": "[Cause] manufacturing demands [Relation] cause [Effect] The toy industry was historically more capital-intensive than traditional retailing",
    "gold": "[Cause] manufacturing demands [Relation] cause [Effect] The toy industry was historically more capital-intensive than traditional retailing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the barriers to entering the credit bureau business are high, as replicating a database of millions of customers would be incredibly difficult.",
    "output": "[Cause] replicating a database of millions of customers would be incredibly difficult [Relation] cause [Effect] the barriers to entering the credit bureau business are high",
    "gold": "[Cause]  replicating a database of millions of customers would be incredibly difficult [Relation] cause [Effect] the barriers to entering the credit bureau business are high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With more than two thirds of annual revenue derived from management fees earned on its AUM, dramatic market movements and/or changes in fund flows can have a meaningful impact on Franklin's revenue and profitability.",
    "output": "[Cause] dramatic market movements and/or changes in fund flows [Relation] enable [Effect] have a meaningful impact on Franklin's revenue and profitability",
    "gold": "[Cause] dramatic market movements and/or changes in fund flows [Relation] enable [Effect] have a meaningful impact on Franklin's revenue and profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For one, consumers make frequent purchases and typically face no switching costs; firms must continually invest behind their brands to drive sales.",
    "output": "[Cause] consumers make frequent purchases and typically face no switching costs [Relation] cause [Effect] firms must continually invest behind their brands to drive sales",
    "gold": "[Cause] consumers make frequent purchases and typically face no switching costs [Relation] cause [Effect] firms must continually invest behind their brands to drive sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect EBITDA margins for the acetyl chain business, which primarily sells acetic acid, to remain in the mid-20s as postpandemic volumes recover.",
    "output": "[Cause] postpandemic volumes recover [Relation] cause [Effect] EBITDA margins for the acetyl chain business, which primarily sells acetic acid, to remain in the mid-20s",
    "gold": "[Cause] postpandemic volumes recover [Relation] enable [Effect]  EBITDA margins for the acetyl chain business, which primarily sells acetic acid, to remain in the mid-20s",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's cost advantage stems from its unique Verbund production process, which saves the company approximately EUR 1 billion per year.",
    "output": "[Cause] its unique Verbund production process [Relation] enable [Effect] The company's cost advantage",
    "gold": "[Cause]  its unique Verbund production process [Relation] enable [Effect] The company's cost advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's cost advantage stems from its unique Verbund production process, which saves the company approximately EUR 1 billion per year.",
    "output": "[Cause] its unique Verbund production process [Relation] enable [Effect] The company's cost advantage",
    "gold": "[Cause]  its unique Verbund production process [Relation] enable [Effect] saves the company approximately EUR 1 billion per year",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As automation solutions are tightly integrated into the customer's manufacturing process and perform a mission-critical function, we believe customers are reluctant to switch vendors given the potential cost of unscheduled downtime or possible modifications to the production line.",
    "output": "[Cause] automation solutions are tightly integrated into the customer's manufacturing process and perform a mission-critical function [Relation] cause [Effect] customers are reluctant to switch vendors",
    "gold": "[Cause] automation solutions are tightly integrated into the customer's manufacturing process and perform a mission-critical function [Relation] cause [Effect] customers are reluctant to switch vendors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As automation solutions are tightly integrated into the customer's manufacturing process and perform a mission-critical function, we believe customers are reluctant to switch vendors given the potential cost of unscheduled downtime or possible modifications to the production line.",
    "output": "[Cause] the potential cost of unscheduled downtime or possible modifications to the production line [Relation] cause [Effect] customers are reluctant to switch vendors",
    "gold": "[Cause] the potential cost of unscheduled downtime or possible modifications to the production line [Relation] cause [Effect] customers are reluctant to switch vendors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think AMN's increasing focus on its technological offerings and its strategy of deepening relationships with and cross-selling to key clients will reflect positively on its gross margin.",
    "output": "[Cause] AMN's increasing focus on its technological offerings and its strategy of deepening relationships with and cross-selling to key clients [Relation] enable [Effect] reflect positively on its gross margin",
    "gold": "[Cause] AMN's increasing focus on its technological offerings and its strategy of deepening relationships with and cross-selling to key clients [Relation] cause [Effect] reflect positively on its gross margin",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Of other revenue, 49% was iQiyi's membership revenue in 2019, which will see growth from increasing subscriber number and high-quality original and licensed content at iQiyi.",
    "output": "[Cause] increasing subscriber number and high-quality original and licensed content at iQiyi [Relation] cause [Effect] growth",
    "gold": "[Cause] growth from increasing subscriber number and high-quality original and licensed content at iQiyi. [Relation] enable [Effect] Of other revenue, 49% was iQiyi's membership revenue in 2019",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Research makes up about 41% of the firm's annual subscription value, or ASV, but is FactSet's slowest growing segment due to its maturity and pressures on asset managers.",
    "output": "[Cause] its maturity and pressures on asset managers [Relation] cause [Effect] FactSet's slowest growing segment",
    "gold": "[Cause] its maturity and pressures on asset managers [Relation] prevent [Effect]  FactSet's slowest growing segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, the company faces some uncertainty related to the impact of COVID-19 on clinical trials, as mitigation measures such as social distancing may inhibit trial work.",
    "output": "[Cause] mitigation measures such as social distancing may inhibit trial work [Relation] cause [Effect] the company faces some uncertainty related to the impact of COVID-19 on clinical trials",
    "gold": "[Cause] mitigation measures such as social distancing may inhibit trial work [Relation] cause [Effect]  the company faces some uncertainty related to the impact of COVID-19 on clinical trials",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, we believe that contact center solutions represent a small portion of a customer's operating expenses, making pricing unlikely to cause customer switching, especially considering the risks.",
    "output": "[Cause] contact center solutions represent a small portion of a customer's operating expenses [Relation] cause [Effect] pricing unlikely to cause customer switching",
    "gold": "[Cause] we believe that contact center solutions represent a small portion of a customer's operating expenses, [Relation] cause [Effect] unlikely to cause customer switching, especially considering the risks.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Ingredion's consistent free cash flow generation should allow the company to sustain its strong financial condition and capitalize on value-accretive, tuck-in merger and acquisition opportunities when they arise.",
    "output": "[Cause] Ingredion's consistent free cash flow generation [Relation] enable [Effect] the company to sustain its strong financial condition and capitalize on value-accretive, tuck-in merger and acquisition opportunities when they arise",
    "gold": "[Cause]  the company to sustain its strong financial condition and capitalize on value-accretive, tuck-in merger and acquisition opportunities [Relation] enable [Effect] Ingredion's consistent free cash flow generation",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For instance, if a business decides to migrate away from Splunk Enterprise Security (a security solution) to a different vendor, there could be a disruption in security data monitoring, threat incident response, and efficient event management.",
    "output": "[Cause] a business decides to migrate away from Splunk Enterprise Security (a security solution) to a different vendor [Relation] cause [Effect] there could be a disruption in security data monitoring, threat incident response, and efficient event management",
    "gold": "[Cause]  a business decides to migrate away from Splunk Enterprise Security (a security solution) to a different vendor [Relation] cause [Effect]  there could be a disruption in security data monitoring, threat incident response, and efficient event management",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The toy industry was historically more capital-intensive than traditional retailing, given manufacturing demands, but Hasbro embarked on an asset light strategy during the last decade (as of 2015, Hasbro no longer manufactured its own product, divesting its last facilities to Cartamundi), which improved working capital demands.",
    "output": "[Cause] manufacturing demands [Relation] cause [Effect] The toy industry was historically more capital-intensive than traditional retailing",
    "gold": "[Cause] manufacturing demands [Relation] cause [Effect] The toy industry was historically more capital-intensive than traditional retailing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The toy industry was historically more capital-intensive than traditional retailing, given manufacturing demands, but Hasbro embarked on an asset light strategy during the last decade (as of 2015, Hasbro no longer manufactured its own product, divesting its last facilities to Cartamundi), which improved working capital demands.",
    "output": "[Cause] Hasbro embarked on an asset light strategy during the last decade [Relation] enable [Effect] improved working capital demands",
    "gold": "[Cause] Hasbro embarked on an asset light strategy during the last decade [Relation] enable [Effect] improved working capital demands",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Matco to be able to ward off competition thanks to its exclusive van route network, frequent interactions with mechanics that drive customer loyalty, and growth in diagnostic solutions that become embedded in a repair shop's operations.",
    "output": "[Cause] its exclusive van route network, frequent interactions with mechanics that drive customer loyalty, and growth in diagnostic solutions that become embedded in a repair shop's operations [Relation] enable [Effect] Matco to be able to ward off competition",
    "gold": "[Cause] its exclusive van route network, frequent interactions with mechanics that drive customer loyalty, and growth in diagnostic solutions that become embedded in a repair shop's operations [Relation] cause [Effect] Matco to be able to ward off competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect PSEG Power's EBITDA to plateau near $1.0 billion in 2020-22 after incorporating 1.9 gigawatts of new gas generation capacity in 2018-19 and $200 million of pretax earnings from the nuclear zero emissions credits.",
    "output": "[Cause] incorporating 1.9 gigawatts of new gas generation capacity in 2018-19 and $200 million of pretax earnings from the nuclear zero emissions credits [Relation] cause [Effect] PSEG Power's EBITDA to plateau near $1.0 billion in 2020-22",
    "gold": "[Cause] the nuclear zero emissions credits [Relation] enable [Effect] incorporating 1.9 gigawatts of new gas generation capacity in 2018-19 and $200 million of pretax",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "First, incremental share grab can come by category extensions; PBkids and PBteen are two of the most populated youth stores on a national level with any scale, and the business has also expanded into the modern space.",
    "output": "[Cause] category extensions [Relation] enable [Effect] incremental share grab",
    "gold": "[Cause] category extensions [Relation] cause [Effect] incremental share grab",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Hess also holds a 30% stake in the Exxon-operated Stabroek block in Guyana, which will be the firm's 2 Jun 2021 05:00, UTCcore growth engine going forward and is a game-changer for the company, due to its large scale and exceptional economics.",
    "output": "[Cause] its large scale and exceptional economics [Relation] cause [Effect] a game-changer for the company",
    "gold": "[Cause] its large scale and exceptional economics [Relation] cause [Effect] a game-changer for the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "An online presence is extremely important for most retailers in order to capture a share of the growing preference for e-commerce.",
    "output": "[Cause] capture a share of the growing preference for e-commerce [Relation] cause [Effect] An online presence is extremely important for most retailers",
    "gold": "[Cause]  capture a share of the growing preference for e-commerce [Relation] cause [Effect] An online presence is extremely important for most retailers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Meanwhile, we expect sluggish rental growth in Washington, D.C., as the region's struggles continue, with New York City suffering a short-term blip associated with significant supply additions.",
    "output": "[Cause] the region's struggles continue, with New York City suffering a short-term blip associated with significant supply additions [Relation] cause [Effect] sluggish rental growth in Washington, D.C.",
    "gold": "[Cause] the region's struggles continue, with New York City suffering a short-term blip associated with significant supply additions [Relation] cause [Effect] sluggish rental growth in Washington, D.C.",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With structural changes like the closure of the Orchard Supply brand and the sale of the Mexico assets completed, increased capital expenditures (estimated at $2 billion in 2021) are likely to focus on efforts that should lead to better working capital efficiency ahead.",
    "output": "[Cause] structural changes like the closure of the Orchard Supply brand and the sale of the Mexico assets completed [Relation] cause [Effect] increased capital expenditures (estimated at $2 billion in 2021) are likely to focus on efforts that should lead to better working capital efficiency ahead",
    "gold": "[Cause]  structural changes like the closure of the Orchard Supply brand and the sale of the Mexico assets completed [Relation] cause [Effect] increased capital expenditures (estimated at $2 billion in 2021) are likely to focus on efforts that should lead to better working capital efficiency ahead",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "One of the key long-term risks to Intuitive Surgical is that competitors introduce a compelling alternative to da Vinci procedures, siphoning off some of Intuitive's growth opportunities and potentially reducing the profitability of its business.",
    "output": "[Cause] competitors introduce a compelling alternative to da Vinci procedures [Relation] cause [Effect] siphoning off some of Intuitive's growth opportunities",
    "gold": "[Cause]  competitors introduce a compelling alternative to da Vinci procedures [Relation] cause [Effect] siphoning off some of Intuitive's growth opportunities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe growth in the number of advisors in the RIA channel and greater adoption of financial planning bode well for the firm's subscription revenue but believe coronavirus-related disruption and uncertainty may slow sales growth.",
    "output": "[Cause] growth in the number of advisors in the RIA channel and greater adoption of financial planning [Relation] enable [Effect] bode well for the firm's subscription revenue",
    "gold": "[Cause]  growth in the number of advisors in the RIA channel and greater adoption of financial planning [Relation] enable [Effect] bode well for the firm's subscription revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe growth in the number of advisors in the RIA channel and greater adoption of financial planning bode well for the firm's subscription revenue but believe coronavirus-related disruption and uncertainty may slow sales growth.",
    "output": "[Cause] coronavirus-related disruption and uncertainty [Relation] prevent [Effect] sales growth",
    "gold": "[Cause] coronavirus-related disruption and uncertainty [Relation] prevent [Effect] sales growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Most of Regency's shopping centers feature a grocery store as an anchor, so an anchor losing traffic will hurt the business of all stores in the center.",
    "output": "[Cause] Most of Regency's shopping centers feature a grocery store as an anchor [Relation] cause [Effect] an anchor losing traffic will hurt the business of all stores in the center",
    "gold": "[Cause] Most of Regency's shopping centers feature a grocery store as an anchor [Relation] cause [Effect] an anchor losing traffic will hurt the business of all stores in the center",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The geopolitical risk is broad, any number of unpredictable events such as wars, pandemics, international tension, and natural disasters affect travel.",
    "output": "[Cause] any number of unpredictable events such as wars, pandemics, international tension, and natural disasters affect travel [Relation] cause [Effect] The geopolitical risk is broad",
    "gold": "[Cause] any number of unpredictable events such as wars, pandemics, international tension, and natural disasters affect travel [Relation] cause [Effect] The geopolitical risk is broad",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Following significant core sales declines across all four segments in 2020 due to the COVID-19 pandemic, we forecast an average annual organic revenue growth rate for the firm of approximately 5.5% through 2025.",
    "output": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] Following significant core sales declines across all four segments in 2020",
    "gold": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] Following significant core sales declines across all four segments in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In a recession that is coupled with significant stimulus programs for small businesses along with added compliance requirements for employers, it is likely Paychex can create new products and realize improved revenue per customer resulting in greater price increases.",
    "output": "[Cause] In a recession that is coupled with significant stimulus programs for small businesses along with added compliance requirements for employers [Relation] cause [Effect] Paychex can create new products and realize improved revenue per customer resulting in greater price increases",
    "gold": "[Cause] create new products and realize improved revenue per customer [Relation] enable [Effect] greater price increases",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Another regulatory risk is that Albemarle may have its products banned due to the environmental impact, which has previously occurred in the bromine business.",
    "output": "[Cause] the environmental impact [Relation] cause [Effect] Albemarle may have its products banned",
    "gold": "[Cause] the environmental impact [Relation] cause [Effect] Albemarle may have its products banned",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For the fixed annuities business we forecast growth in premiums of around 500 basis points but given the lower level of rates and continued higher appetite for separate account business in the U.S., that net flows will remain negative at around negative GBP 1.5 billion.",
    "output": "[Cause] the lower level of rates and continued higher appetite for separate account business in the U.S. [Relation] cause [Effect] net flows will remain negative at around negative GBP 1.5 billion",
    "gold": "[Cause]  the lower level of rates and continued higher appetite for separate account business in the U.S. [Relation] cause [Effect] net flows will remain negative at around negative GBP 1.5 billion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect flat revenue growth in 2020, followed by a strong recovery in 2021 before the CRO returns to growth in the mid- to high single digits due to low-single-digit growth in biopharma research and development spending, as well as modest increases in outsourcing penetration.",
    "output": "[Cause] low-single-digit growth in biopharma research and development spending, as well as modest increases in outsourcing penetration [Relation] cause [Effect] flat revenue growth in 2020, followed by a strong recovery in 2021 before the CRO returns to growth in the mid- to high single digits",
    "gold": "[Cause] low-single-digit growth in biopharma research and development spending, as well as modest increases in outsourcing penetration [Relation] cause [Effect]  flat revenue growth in 2020, followed by a strong recovery in 2021 before the CRO returns to growth in the mid- to high single digits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "TE also drives this consolidation itself, completing several bolt-on acquisitions a year to expand its breadth and maintain its market share pole position.",
    "output": "[Cause] TE also drives this consolidation itself, completing several bolt-on acquisitions a year [Relation] enable [Effect] expand its breadth and maintain its market share pole position",
    "gold": "[Cause] TE also drives this consolidation itself, completing several bolt-on acquisitions a year [Relation] enable [Effect] expand its breadth and maintain its market share pole position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe interest rates on credit cards, which often exceed 400%, are likely to come down, providing further pressure on Brazil's banks.",
    "output": "[Cause] interest rates on credit cards, which often exceed 400%, are likely to come down [Relation] cause [Effect] further pressure on Brazil's banks",
    "gold": "[Cause] interest rates on credit cards, which often exceed 400%, are likely to come down [Relation] cause [Effect] further pressure on Brazil's banks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the ongoing Trent 1000 engine issues are not resolved on time and as planned, the company may experience further cost and execution issues.",
    "output": "[Cause] the ongoing Trent 1000 engine issues are not resolved on time and as planned [Relation] cause [Effect] the company may experience further cost and execution issues",
    "gold": "[Cause] the ongoing Trent 1000 engine issues are not resolved on time and as planned [Relation] cause [Effect] the company may experience further cost and execution issues",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project that physical media will also remain on a downward trajectory, albeit much slower than digital downloads at a 7% average decrease. As a result, we project that overall recorded music growth for Warner will average 12.9% over the next five fiscal years.",
    "output": "[Cause] physical media will also remain on a downward trajectory, albeit much slower than digital downloads at a 7% average decrease [Relation] cause [Effect] overall recorded music growth for Warner will average 12.9% over the next five fiscal years",
    "gold": "[Cause]  physical media will also remain on a downward trajectory, albeit much slower than digital downloads at a 7% average decrease [Relation] cause [Effect] overall recorded music growth for Warner will average 12.9% over the next five fiscal years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In particular, the company's capital markets and leasing businesses tend to magnify existing volatility in the overall market place because of their transactional nature. This is especially concerning amid an environment where the spread of the coronavirus has injected considerable uncertainty and is threatening to freeze investment volumes.",
    "output": "[Cause] the company's capital markets and leasing businesses tend to magnify existing volatility in the overall market place because of their transactional nature [Relation] cause [Effect] this is especially concerning amid an environment where the spread of the coronavirus has injected considerable uncertainty and is threatening to freeze investment volumes",
    "gold": "[Cause] concerning amid an environment where the spread of the coronavirus has injected considerable uncertainty and is threatening to freeze investment volumes [Relation] cause [Effect] the company's capital markets and leasing businesses tend to magnify existing volatility in the overall market place because of their transactional nature",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We do not believe that commodity diversification is a material benefit for BHP, given that the prices of its commodities tend to be correlated.",
    "output": "[Cause] the prices of its commodities tend to be correlated [Relation] cause [Effect] We do not believe that commodity diversification is a material benefit for BHP",
    "gold": "[Cause] the prices of its commodities tend to be correlated [Relation] cause [Effect] We do not believe that commodity diversification is a material benefit for BHP",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "PCA's revenue and profitability would decline meaningfully if the United States, nearly 100% of sales, were to experience a substantial economic slowdown.",
    "output": "[Cause] the United States, nearly 100% of sales, were to experience a substantial economic slowdown [Relation] cause [Effect] PCA's revenue and profitability would decline meaningfully",
    "gold": "[Cause] the United States, nearly 100% of sales, were to experience a substantial economic slowdown [Relation] cause [Effect] PCA's revenue and profitability would decline meaningfully",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Full-truckload market capacity saw a historic capacity crunch in 2018 thanks to robust freight demand and widespread ELD adoption among truckers.",
    "output": "[Cause] robust freight demand and widespread ELD adoption among truckers [Relation] cause [Effect] Full-truckload market capacity saw a historic capacity crunch in 2018",
    "gold": "[Cause] robust freight demand and widespread ELD adoption among truckers [Relation] cause [Effect] Full-truckload market capacity saw a historic capacity crunch in 2018",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, the populations in the countries Millicom serves are generally small and thus often not worth the effort for the largest telecom carriers to get involved.",
    "output": "[Cause] the populations in the countries Millicom serves are generally small [Relation] cause [Effect] not worth the effort for the largest telecom carriers to get involved",
    "gold": "[Cause]  the populations in the countries Millicom serves are generally small [Relation] cause [Effect] not worth the effort for the largest telecom carriers to get involved",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The smartphone has significantly disrupted the automotive portable navigation device market, given the ease in switching to mobile navigation when driving.",
    "output": "[Cause] the ease in switching to mobile navigation when driving [Relation] cause [Effect] The smartphone has significantly disrupted the automotive portable navigation device market",
    "gold": "[Cause] the ease in switching to mobile navigation when driving [Relation] cause [Effect] The smartphone has significantly disrupted the automotive portable navigation device market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast companywide prices will rise about 2%-3% per year, as favorable mix-shift slightly outweighs adequate capacity expansions to meet rising demand.",
    "output": "[Cause] favorable mix-shift slightly outweighs adequate capacity expansions to meet rising demand [Relation] cause [Effect] companywide prices will rise about 2%-3% per year",
    "gold": "[Cause] favorable mix-shift slightly outweighs adequate capacity expansions to meet rising demand [Relation] cause [Effect] companywide prices will rise about 2%-3% per year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This evidence is consistent with our belief that switching costs related to software generally increase as the number of employees in a company increases.",
    "output": "[Cause] the number of employees in a company increases [Relation] cause [Effect] switching costs related to software generally increase",
    "gold": "[Cause] the number of employees in a company increases [Relation] enable [Effect] switching costs related to software generally increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Prior to the pandemic, its adjusted operating margin in fiscal 2020 was on track to be about 150 basis points above that of fiscal 2017 (10.2%) on better pricing and cost-cutting.",
    "output": "[Cause] better pricing and cost-cutting [Relation] cause [Effect] its adjusted operating margin in fiscal 2020 was on track to be about 150 basis points above that of fiscal 2017 (10.2%)",
    "gold": "[Cause] better pricing and cost-cutting [Relation] cause [Effect] its adjusted operating margin in fiscal 2020 was on track to be about 150 basis points above that of fiscal 2017 (10.2%)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe cybersecurity threats will perpetually increase, while becoming further sophisticated, as more data is created and dispersed away from centralized data centers.",
    "output": "[Cause] more data is created and dispersed away from centralized data centers [Relation] cause [Effect] cybersecurity threats will perpetually increase, while becoming further sophisticated",
    "gold": "[Cause] more data is created and dispersed away from centralized data centers [Relation] cause [Effect] cybersecurity threats will perpetually increase, while becoming further sophisticated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Corporate leverage is rising slightly due to the coronavirus pandemic, increasing demand for bank loans temporarily, but we think this is mainly for liquidity purposes rather than investment and loan interest rates continue to fall.",
    "output": "[Cause] the coronavirus pandemic [Relation] cause [Effect] Corporate leverage is rising slightly",
    "gold": "[Cause] the coronavirus pandemic [Relation] cause [Effect] Corporate leverage is rising slightly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Corporate leverage is rising slightly due to the coronavirus pandemic, increasing demand for bank loans temporarily, but we think this is mainly for liquidity purposes rather than investment and loan interest rates continue to fall.",
    "output": "[Cause] the coronavirus pandemic [Relation] cause [Effect] Corporate leverage is rising slightly",
    "gold": "[Cause] liquidity purposes [Relation] cause [Effect] increasing demand for bank loans temporarily",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Corporate leverage is rising slightly due to the coronavirus pandemic, increasing demand for bank loans temporarily, but we think this is mainly for liquidity purposes rather than investment and loan interest rates continue to fall.",
    "output": "[Cause] the coronavirus pandemic [Relation] cause [Effect] Corporate leverage is rising slightly",
    "gold": "[Cause] investment and loan interest rates continue to fall [Relation] prevent [Effect] increasing demand for bank loans temporarily",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Growth in demand and further word-of-mouth marketing attracted more drivers, or, in other words, increased the supply of Uber vehicles.",
    "output": "[Cause] Growth in demand and further word-of-mouth marketing [Relation] enable [Effect] attracted more drivers",
    "gold": "[Cause] Growth in demand and further word-of-mouth marketing [Relation] enable [Effect]  increased the supply of Uber vehicles",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The pace of change in retail is accelerating as digital sellers develop distribution and supply chain scale (as well as usage) while physical rivals become more aggressive to drive traffic.",
    "output": "[Cause] digital sellers develop distribution and supply chain scale (as well as usage) while physical rivals become more aggressive to drive traffic [Relation] cause [Effect] The pace of change in retail is accelerating",
    "gold": "[Cause] The pace of change in retail is accelerating as digital sellers develop distribution and supply chain scale [Relation] cause [Effect]  physical rivals become more aggressive to drive traffic",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "JPMorgan has one of the largest FICC trading platforms, where incremental returns from additional volume are maximal as the bank is able to spread the fixed costs of trading operations over an enormous base of transactions.",
    "output": "[Cause] the bank is able to spread the fixed costs of trading operations over an enormous base of transactions [Relation] cause [Effect] incremental returns from additional volume are maximal",
    "gold": "[Cause] the bank is able to spread the fixed costs of trading operations over an enormous base of transactions [Relation] cause [Effect] incremental returns from additional volume are maximal",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While not all companies will adopt Paylocity's payroll/HCM platform, we still believe that there is a sizable growth runway ahead given the scale of the market.",
    "output": "[Cause] the scale of the market [Relation] cause [Effect] there is a sizable growth runway ahead",
    "gold": "[Cause]  the scale of the market [Relation] enable [Effect]  there is a sizable growth runway ahead",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because there is no incentive to charge below the maximum fees, in practice the Information Technology Servicesmaximum fees are the fees charged to issuers and some of the revenue is shared with the broker/dealer.",
    "output": "[Cause] there is no incentive to charge below the maximum fees [Relation] cause [Effect] in practice the Information Technology Servicesmaximum fees are the fees charged to issuers and some of the revenue is shared with the broker/dealer",
    "gold": "[Cause] there is no incentive to charge below the maximum fees [Relation] cause [Effect] in practice the Information Technology Servicesmaximum fees are the fees charged to issuers and some of the revenue is shared with the broker/dealer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Down the line, we're likely to see further pressure with a rebound in inflation, though lower consumer demand renders this unlikely in the short term.",
    "output": "[Cause] a rebound in inflation [Relation] cause [Effect] further pressure",
    "gold": "[Cause] lower consumer demand [Relation] prevent [Effect] we're likely to see further pressure with a rebound in inflation",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We do not expect that aircraft manufacturers will choose untested suppliers for avionics that avoid collision due to the lethal cost at failure and the wide publication of aviation failures.",
    "output": "[Cause] the lethal cost at failure and the wide publication of aviation failures [Relation] cause [Effect] aircraft manufacturers will choose untested suppliers for avionics that avoid collision",
    "gold": "[Cause] the lethal cost at failure and the wide publication of aviation failures [Relation] prevent [Effect] aircraft manufacturers will choose untested suppliers for avionics that avoid collision",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The risk from carbon emissions is most likely to materialize through a carbon tax, which increases the price of end products to consumers, reducing demand over time and threatening Total's core business.",
    "output": "[Cause] a carbon tax [Relation] cause [Effect] The risk from carbon emissions is most likely to materialize",
    "gold": "[Cause] The risk from carbon emissions is most likely to materialize through a carbon tax [Relation] cause [Effect] increases the price of end products to consumers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The risk from carbon emissions is most likely to materialize through a carbon tax, which increases the price of end products to consumers, reducing demand over time and threatening Total's core business.",
    "output": "[Cause] a carbon tax [Relation] cause [Effect] increases the price of end products to consumers, reducing demand over time and threatening Total's core business",
    "gold": "[Cause] increases the price of end products to consumers [Relation] cause [Effect]  reducing demand over time and threatening Total's core business.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although the quantitative data does not point to a competitive edge, qualitatively, US Foods is taking steps to differentiate itself by providing clients with value-added offerings.",
    "output": "[Cause] providing clients with value-added offerings [Relation] enable [Effect] differentiate itself",
    "gold": "[Cause] differentiate itself [Relation] enable [Effect] providing clients with value-added offerings",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, the risk of a water shortage would have limited financial impact on Ambev as we estimate it represents a low-single-digit percentage of cost of goods sold.",
    "output": "[Cause] it represents a low-single-digit percentage of cost of goods sold [Relation] cause [Effect] the risk of a water shortage would have limited financial impact on Ambev",
    "gold": "[Cause]  it represents a low-single-digit percentage of cost of goods sold [Relation] enable [Effect]  the risk of a water shortage would have limited financial impact on Ambev",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Being the premier life science supplier and having an unmatched portfolio of products, resources, and manufacturing capabilities have allowed the firm to be among the first to market with a reliable coronavirus test and at capacity needed to meet massive demand.",
    "output": "[Cause] Being the premier life science supplier and having an unmatched portfolio of products, resources, and manufacturing capabilities [Relation] enable [Effect] the firm to be among the first to market with a reliable coronavirus test and at capacity needed to meet massive demand",
    "gold": "[Cause] Being the premier life science supplier and having an unmatched portfolio of products, resources, and manufacturing capabilities [Relation] enable [Effect] the firm to be among the first to market with a reliable coronavirus test and at capacity needed to meet massive demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, Choice and other large hotel brands require high amounts of human capital, which helps drive traveler experience and therefore is tied to the brand intangible asset advantages found in the industry.",
    "output": "[Cause] Choice and other large hotel brands require high amounts of human capital [Relation] enable [Effect] helps drive traveler experience and therefore is tied to the brand intangible asset advantages found in the industry",
    "gold": "[Cause]  is tied to the brand intangible asset advantages found in the industry [Relation] cause [Effect] Choice and other large hotel brands require high amounts of human capital",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "By the end of our 10-year explicit forecast, we expect the chain to exceed 28,000 stores, with increasing variance as it deploys smaller-format concepts in more densely populated areas and introduces popshelf.",
    "output": "[Cause] it deploys smaller-format concepts in more densely populated areas and introduces popshelf [Relation] cause [Effect] increasing variance",
    "gold": "[Cause] increasing variance as it deploys smaller-format concepts in more densely populated areas and introduces popshelf [Relation] enable [Effect] the chain to exceed 28,000 stores",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, we believe strong brands tend to have a high level of conspicuous consumption, as consumers are less price sensitive for items that display wealth or social status.",
    "output": "[Cause] consumers are less price sensitive for items that display wealth or social status [Relation] cause [Effect] strong brands tend to have a high level of conspicuous consumption",
    "gold": "[Cause] consumers are less price sensitive for items that display wealth or social status [Relation] enable [Effect] strong brands tend to have a high level of conspicuous consumption",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to the staggered reinvestment of the company's portfolio, interest rates have to remain at a high level for the company's investment portfolio to fully reprice at recently higher rates.",
    "output": "[Cause] the staggered reinvestment of the company's portfolio [Relation] cause [Effect] interest rates have to remain at a high level for the company's investment portfolio to fully reprice at recently higher rates",
    "gold": "[Cause] interest rates have to remain at a high level for the company's investment portfolio [Relation] enable [Effect] fully reprice at recently higher rates",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Risks surrounding a widely distributed COVID-19 vaccine remain, leading to potential needs for incremental liquidity, which perhaps could occur at value destructive levels.",
    "output": "[Cause] Risks surrounding a widely distributed COVID-19 vaccine remain [Relation] cause [Effect] potential needs for incremental liquidity",
    "gold": "[Cause] Risks surrounding a widely distributed COVID-19 vaccine remain [Relation] cause [Effect] potential needs for incremental liquidity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Risks surrounding a widely distributed COVID-19 vaccine remain, leading to potential needs for incremental liquidity, which perhaps could occur at value destructive levels.",
    "output": "[Cause] Risks surrounding a widely distributed COVID-19 vaccine remain [Relation] cause [Effect] potential needs for incremental liquidity",
    "gold": "[Cause] Risks surrounding a widely distributed COVID-19 vaccine remain, leading to potential needs for incremental liquidity [Relation] enable [Effect]  occur at value destructive levels",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "EDA tools also speed up the chip design process by automating certain steps to reduce time to market (for example, automatically testing a mathematical property).",
    "output": "[Cause] EDA tools also speed up the chip design process by automating certain steps [Relation] enable [Effect] reduce time to market",
    "gold": "[Cause] EDA tools also speed up the chip design process by automating certain steps [Relation] enable [Effect]  reduce time to market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Production costs are largely determined by concentration, as higher concentration mean that less water needs to be evaporated to produce bromine from brine.",
    "output": "[Cause] higher concentration mean that less water needs to be evaporated to produce bromine from brine [Relation] cause [Effect] Production costs are largely determined by concentration",
    "gold": "[Cause] higher concentration mean that less water needs to be evaporated to produce bromine from brine [Relation] cause [Effect] Production costs are largely determined by concentration",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But within the Permian, well performance does vary. As a result, some of Apache's competitors in the region enjoy lower average unit costs and higher internal rates of return.",
    "output": "[Cause] But within the Permian, well performance does vary [Relation] cause [Effect] some of Apache's competitors in the region enjoy lower average unit costs and higher internal rates of return",
    "gold": "[Cause] But within the Permian, well performance does vary [Relation] cause [Effect] some of Apache's competitors in the region enjoy lower average unit costs and higher internal rates of return",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The industry is consolidating because smaller players cannot compete with the scale and cost savings achieved through roll-up acquisitions pursued by the largest franchise dealerships.",
    "output": "[Cause] smaller players cannot compete with the scale and cost savings achieved through roll-up acquisitions pursued by the largest franchise dealerships [Relation] cause [Effect] The industry is consolidating",
    "gold": "[Cause] smaller players cannot compete with the scale and cost savings achieved through roll-up acquisitions pursued by the largest franchise dealerships [Relation] enable [Effect] The industry is consolidating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This can add countercyclicality to Nasdaq's exchange revenue, as periods of increased market volatility generally lead to higher trading volume.",
    "output": "[Cause] periods of increased market volatility generally lead to higher trading volume [Relation] cause [Effect] add countercyclicality to Nasdaq's exchange revenue",
    "gold": "[Cause] periods of increased market volatility generally lead to higher trading volume [Relation] cause [Effect] add countercyclicality to Nasdaq's exchange revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Shaw's efficient scale stems from the very high capital costs required to build and maintain a wireline communications network.",
    "output": "[Cause] the very high capital costs required to build and maintain a wireline communications network [Relation] cause [Effect] Shaw's efficient scale",
    "gold": "[Cause] the very high capital costs required to build and maintain a wireline communications network [Relation] cause [Effect] Shaw's efficient scale",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that recent regulation changes will likely marginalize smaller players, and we expect TAL to continue to take market share in the future.",
    "output": "[Cause] recent regulation changes [Relation] cause [Effect] marginalize smaller players",
    "gold": "[Cause] recent regulation changes [Relation] enable [Effect] marginalize smaller players",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that recent regulation changes will likely marginalize smaller players, and we expect TAL to continue to take market share in the future.",
    "output": "[Cause] recent regulation changes [Relation] cause [Effect] marginalize smaller players",
    "gold": "[Cause] marginalize smaller players [Relation] enable [Effect] TAL to continue to take market share in the future",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect gross margin to trend lower in the long run from 63.4% in 2019 to 61.4% in 2029 to factor in the gradual shift toward lower-margin mobile games from higher-margin PC games in China.",
    "output": "[Cause] gross margin to trend lower in the long run from 63.4% in 2019 to 61.4% in 2029 [Relation] cause [Effect] the gradual shift toward lower-margin mobile games from higher-margin PC games in China",
    "gold": "[Cause] gross margin to trend lower in the long run from 63.4% in 2019 to 61.4% in 2029 [Relation] cause [Effect]  the gradual shift toward lower-margin mobile games from higher-margin PC games in China",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Gazyva, approved in CLL and NHL and in testing in lupus, will also extend the longevity of the Rituxan franchise.",
    "output": "[Cause] Gazyva, approved in CLL and NHL and in testing in lupus [Relation] enable [Effect] extend the longevity of the Rituxan franchise",
    "gold": "[Cause] Gazyva, approved in CLL and NHL and in testing in lupus [Relation] cause [Effect] extend the longevity of the Rituxan franchise",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company is attempting to establish a more diversified revenue base of enterprise customers; however, incumbents with established channel partners could make Arista ramp up costs associated with sales and marketing, and potentially drive profit concessions to gain a foothold.",
    "output": "[Cause] incumbents with established channel partners [Relation] enable [Effect] Arista ramp up costs associated with sales and marketing",
    "gold": "[Cause] incumbents with established channel partners [Relation] cause [Effect] Arista ramp up costs associated with sales and marketing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company is attempting to establish a more diversified revenue base of enterprise customers; however, incumbents with established channel partners could make Arista ramp up costs associated with sales and marketing, and potentially drive profit concessions to gain a foothold.",
    "output": "[Cause] incumbents with established channel partners [Relation] enable [Effect] profit concessions to gain a foothold",
    "gold": "[Cause] incumbents with established channel partners [Relation] enable [Effect] profit concessions to gain a foothold",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By expanding its wide range of products primarily through various acquisitions, the firm was well positioned to provide hospital customers (and group purchasing organizations) with one-stop shopping and the prospect of bundled deals.",
    "output": "[Cause] expanding its wide range of products primarily through various acquisitions [Relation] enable [Effect] the firm was well positioned",
    "gold": "[Cause] expanding its wide range of products primarily through various acquisitions [Relation] enable [Effect] hospital customers (and group purchasing organizations) with one-stop shopping and the prospect of bundled deals",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Revenue has returned to the prepandemic trajectory, belying any disruption from COVID-19, while margins are outperforming due to the dearth of available marketing occasions (concerts and sporting events, for example).",
    "output": "[Cause] the dearth of available marketing occasions (concerts and sporting events, for example) [Relation] cause [Effect] margins are outperforming",
    "gold": "[Cause] the dearth of available marketing occasions (concerts and sporting events, for example) [Relation] cause [Effect] margins are outperforming",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we'll caution that a slower economy could hamper growth in trading volumes after an initial pop caused by the volatility generated by a recession.",
    "output": "[Cause] the volatility generated by a recession [Relation] cause [Effect] a slower economy could hamper growth in trading volumes after an initial pop",
    "gold": "[Cause] a slower economy [Relation] cause [Effect] hamper growth in trading volumes after an initial pop caused by the volatility generated by a recession",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Trane's failure to keep pace with global green building standards and product demand trends could result in reputational risk and lost market share, but we see a low probability of this risk materializing.",
    "output": "[Cause] Trane's failure to keep pace with global green building standards and product demand trends [Relation] cause [Effect] reputational risk and lost market share",
    "gold": "[Cause] Trane's failure to keep pace with global green building standards and product demand trends [Relation] cause [Effect] reputational risk and lost market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A constant concern in the RF industry is the threat of pricing pressure, as Skyworks and others rely on a handful of smartphone leaders for the bulk of their revenue.",
    "output": "[Cause] Skyworks and others rely on a handful of smartphone leaders for the bulk of their revenue [Relation] cause [Effect] A constant concern in the RF industry is the threat of pricing pressure",
    "gold": "[Cause] Skyworks and others rely on a handful of smartphone leaders for the bulk of their revenue [Relation] cause [Effect] A constant concern in the RF industry is the threat of pricing pressure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Charter's SportsNet LA, the home of the MLB's Los Angeles Dodgers, has not been carried by any other distributor over the six years since its launch, and thus less than 50% of the Los Angeles market receives the network.",
    "output": "[Cause] Charter's SportsNet LA, the home of the MLB's Los Angeles Dodgers, has not been carried by any other distributor over the six years since its launch [Relation] cause [Effect] less than 50% of the Los Angeles market receives the network",
    "gold": "[Cause] Charter's SportsNet LA, the home of the MLB's Los Angeles Dodgers, has not been carried by any other distributor over the six years since its launch [Relation] cause [Effect] less than 50% of the Los Angeles market receives the network",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Amazon has been insourcing more of its own last-mile delivery needs at a rapid pace to supplement capacity access amid robust growth. This removes some incremental growth opportunities for UPS while creating risk that Amazon decides to take in house the shipments it sends though UPS--the retailer now Integrated Freight & Logisticsmakes up about 13% of UPS' consolidated revenue.",
    "output": "[Cause] Amazon has been insourcing more of its own last-mile delivery needs at a rapid pace to supplement capacity access amid robust growth [Relation] cause [Effect] removes some incremental growth opportunities for UPS while creating risk that Amazon decides to take in house the shipments it sends though UPS--the retailer now Integrated Freight & Logisticsmakes up about 13% of UPS' consolidated revenue",
    "gold": "[Cause] Amazon has been insourcing more of its own last-mile delivery needs at a rapid pace to supplement capacity access amid robust growth [Relation] cause [Effect] removes some incremental growth opportunities for UPS while creating risk that Amazon decides to take in house the shipments it sends though UPS--the retailer now Integrated Freight & Logisticsmakes up about 13% of UPS' consolidated revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Stable and recurring aftermarket support, service and training revenue, representing 43% of group sales, smooths the lumpy project and programme revenue stemming from changes in annual defense budgets.",
    "output": "[Cause] Stable and recurring aftermarket support, service and training revenue, representing 43% of group sales [Relation] enable [Effect] smooths the lumpy project and programme revenue stemming from changes in annual defense budgets",
    "gold": "[Cause] Stable and recurring aftermarket support, service and training revenue, representing 43% of group sales [Relation] enable [Effect] smooths the lumpy project and programme revenue stemming from changes in annual defense budgets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect ON to outpace the growth of its underlying markets over the next five years as it tailors its portfolio of transistors, analog chips, and sensors to pursue secular trends toward electrification and connectivity that allow it to sell into new sockets in cars, machinery, and communications infrastructure.",
    "output": "[Cause] it tailors its portfolio of transistors, analog chips, and sensors to pursue secular trends toward electrification and connectivity [Relation] enable [Effect] ON to outpace the growth of its underlying markets over the next five years",
    "gold": "[Cause] We expect ON to outpace the growth of its underlying markets over the next five years as it tailors its portfolio of transistors, analog chips, and sensors to pursue secular trends toward electrification and connectivity [Relation] enable [Effect] allow it to sell into new sockets in cars, machinery, and communications infrastructure",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, with hospital admissions set to recover in the second half of calendar 2021, we should see a material bounce in the rest of business lines that sagged during the pandemic.",
    "output": "[Cause] hospital admissions set to recover in the second half of calendar 2021 [Relation] cause [Effect] a material bounce in the rest of business lines that sagged during the pandemic",
    "gold": "[Cause] hospital admissions set to recover in the second half of calendar 2021 [Relation] enable [Effect] a material bounce in the rest of business lines that sagged during the pandemic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Western will wrap up fiscal 2021 with a 12% HDD sales decline, due in part to moderate market share losses in nearline drives after lagging rival Seagate in introducing 16 terabyte drives.",
    "output": "[Cause] moderate market share losses in nearline drives after lagging rival Seagate in introducing 16 terabyte drives [Relation] cause [Effect] Western will wrap up fiscal 2021 with a 12% HDD sales decline",
    "gold": "[Cause] lagging rival Seagate in introducing 16 terabyte drives [Relation] cause [Effect] moderate market share losses in nearline drives",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think Western will wrap up fiscal 2021 with a 12% HDD sales decline, due in part to moderate market share losses in nearline drives after lagging rival Seagate in introducing 16 terabyte drives.",
    "output": "[Cause] moderate market share losses in nearline drives [Relation] cause [Effect] Western will wrap up fiscal 2021 with a 12% HDD sales decline",
    "gold": "[Cause] moderate market share losses in nearline drives [Relation] cause [Effect] Western will wrap up fiscal 2021 with a 12% HDD sales decline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If Britain fails to reach a deal on the future terms of its relationship with the E.U., the British pound may weaken, and this would be a net benefit to Diageo.",
    "output": "[Cause] Britain fails to reach a deal on the future terms of its relationship with the E.U. [Relation] cause [Effect] the British pound may weaken",
    "gold": "[Cause] Britain fails to reach a deal on the future terms of its relationship with the E.U. [Relation] cause [Effect] the British pound may weaken",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For Ingredion's commodity-grade operations, the wet milling process by which raw materials are processed into starches and sweeteners provides few inroads for differentiation, preventing the company from establishing a cost advantage over peers.",
    "output": "[Cause] the wet milling process by which raw materials are processed into starches and sweeteners provides few inroads for differentiation [Relation] prevent [Effect] the company from establishing a cost advantage over peers",
    "gold": "[Cause] the wet milling process by which raw materials are processed into starches and sweeteners provides few inroads for differentiation [Relation] prevent [Effect] the company from establishing a cost advantage over peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, as customers migrate more applications and workloads from on-premises there is value in staying with F5's software solutions over swapping vendors or implementing a multi-vendor approach.",
    "output": "[Cause] customers migrate more applications and workloads from on-premises [Relation] cause [Effect] there is value in staying with F5's software solutions over swapping vendors or implementing a multi-vendor approach",
    "gold": "[Cause] customers migrate more applications and workloads from on-premises [Relation] enable [Effect] there is value in staying with F5's software solutions over swapping vendors or implementing a multi-vendor approach",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Second, while the growth of China's domestic semiconductor industry is in some ways a boon to EDA vendors, geopolitical tensions and the growth of China's EDA industry pose potential long-term threats to Cadence.",
    "output": "[Cause] geopolitical tensions and the growth of China's EDA industry [Relation] cause [Effect] potential long-term threats to Cadence",
    "gold": "[Cause]  geopolitical tensions and the growth of China's EDA industry [Relation] cause [Effect] potential long-term threats to Cadence",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Similarly, the company's exposure to power management circuits positions it to benefit from trends in the electronics industry toward power conservation, not only in more efficient devices like industrial drives, but also in green energy solutions like solar panels.",
    "output": "[Cause] the company's exposure to power management circuits [Relation] enable [Effect] it to benefit from trends in the electronics industry toward power conservation",
    "gold": "[Cause] the company's exposure to power management circuits [Relation] enable [Effect]  it to benefit from trends in the electronics industry toward power conservation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For Power and Renewables, we see both segments benefitting from the energy transition, but with the lion's share of the sales growth opportunity flowing through to renewables.",
    "output": "[Cause] the lion's share of the sales growth opportunity flowing through to renewables [Relation] enable [Effect] both segments benefitting from the energy transition",
    "gold": "[Cause] both segments benefitting from the energy transition [Relation] cause [Effect]  with the lion's share of the sales growth opportunity flowing through to renewables",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Therefore, as the frontier of oil and gas development closes off from new challenges (for example, longer wellbores in harsher environments), the window for product differentiation in OCTG will be closed.",
    "output": "[Cause] the frontier of oil and gas development closes off from new challenges [Relation] cause [Effect] the window for product differentiation in OCTG will be closed",
    "gold": "[Cause]  the frontier of oil and gas development closes off from new challenges [Relation] cause [Effect] the window for product differentiation in OCTG will be closed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "During the last five years, the expected returns of Shell's project queue have improved and capital intensity reduced through cost deflation, improved performance, and design standardization.",
    "output": "[Cause] cost deflation, improved performance, and design standardization [Relation] enable [Effect] the expected returns of Shell's project queue have improved and capital intensity reduced",
    "gold": "[Cause] cost deflation, improved performance, and design standardization [Relation] cause [Effect] the expected returns of Shell's project queue have improved and capital intensity reduced",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, recent results in the Catarina and Tilden areas have been much stronger than expected, suggesting that any deterioration in performance after the exhaustion of Murphy's Karnes acreage may not be as severe as we once feared.",
    "output": "[Cause] recent results in the Catarina and Tilden areas have been much stronger than expected [Relation] cause [Effect] any deterioration in performance after the exhaustion of Murphy's Karnes acreage may not be as severe as we once feared",
    "gold": "[Cause] recent results in the Catarina and Tilden areas have been much stronger than expected [Relation] cause [Effect] any deterioration in performance after the exhaustion of Murphy's Karnes acreage may not be as severe as we once feared",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a fast-turning inventory of high-value branded merchandise, Ross' store experience and value proposition should continue to resonate once conditions normalize after the pandemic ebbs.",
    "output": "[Cause] a fast-turning inventory of high-value branded merchandise [Relation] cause [Effect] Ross' store experience and value proposition should continue to resonate once conditions normalize after the pandemic ebbs",
    "gold": "[Cause] a fast-turning inventory of high-value branded merchandise [Relation] cause [Effect] Ross' store experience and value proposition should continue to resonate once conditions normalize after the pandemic ebbs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Analog chips tend to make up only a small portion of a product's bill of materials, so purchasing decisions tend to be based on performance rather than price, helping NXP and its peers retain pricing power.",
    "output": "[Cause] Analog chips tend to make up only a small portion of a product's bill of materials [Relation] cause [Effect] purchasing decisions tend to be based on performance rather than price",
    "gold": "[Cause] Analog chips tend to make up only a small portion of a product's bill of materials [Relation] cause [Effect] purchasing decisions tend to be based on performance rather than price",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Analog chips tend to make up only a small portion of a product's bill of materials, so purchasing decisions tend to be based on performance rather than price, helping NXP and its peers retain pricing power.",
    "output": "[Cause] purchasing decisions tend to be based on performance rather than price [Relation] enable [Effect] NXP and its peers retain pricing power",
    "gold": "[Cause] purchasing decisions tend to be based on performance rather than price [Relation] enable [Effect] NXP and its peers retain pricing power",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, Kraft generates just over 20% of its sales from Walmart, and its bargaining clout could diminish as the base of retail outlets consolidates and market share shifts to mass merchants and warehouse clubs at the expense of traditional grocery stores.",
    "output": "[Cause] the base of retail outlets consolidates and market share shifts to mass merchants and warehouse clubs at the expense of traditional grocery stores [Relation] cause [Effect] its bargaining clout could diminish",
    "gold": "[Cause] the base of retail outlets consolidates and market share shifts to mass merchants and warehouse clubs at the expense of traditional grocery stores [Relation] cause [Effect] its bargaining clout could diminish",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Tightening environmental compliance regulations could require significant capital investment or added operating costs that may have uncertain cost recovery in unregulated power markets or traditional regulated rates.",
    "output": "[Cause] Tightening environmental compliance regulations could require significant capital investment or added operating costs [Relation] cause [Effect] uncertain cost recovery in unregulated power markets or traditional regulated rates",
    "gold": "[Cause] Tightening environmental compliance regulations | unregulated power markets or traditional regulated rates [Relation] cause [Effect]  may have uncertain cost recovery",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Both Boeing and Airbus are attempting to eat into the historically higher margins of their suppliers by dual-sourcing more components and cost-saving initiatives such as Partnership for Success.",
    "output": "[Cause] dual-sourcing more components and cost-saving initiatives such as Partnership for Success [Relation] enable [Effect] Both Boeing and Airbus are attempting to eat into the historically higher margins of their suppliers",
    "gold": "[Cause] dual-sourcing more components and cost-saving initiatives such as Partnership for Success [Relation] enable [Effect] Both Boeing and Airbus are attempting to eat into the historically higher margins of their suppliers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Beyond this tie-up, over the next few quarters, we expect products (like laundry and vitamins) will continue to be in high demand as a focus on wellness and cleaning remains at the forefront for consumers. As such, we expect 9.3% organic revenue growth for the full year (slightly above management's revised outlook for organic sales growth of approximately 9%).",
    "output": "[Cause] Beyond this tie-up, over the next few quarters, we expect products (like laundry and vitamins) will continue to be in high demand as a focus on wellness and cleaning remains at the forefront for consumers [Relation] cause [Effect] 9.3% organic revenue growth for the full year (slightly above management's revised outlook for organic sales growth of approximately 9%)",
    "gold": "[Cause] Beyond this tie-up, over the next few quarters, we expect products (like laundry and vitamins) will continue to be in high demand as a focus on wellness and cleaning remains at the forefront for consumers [Relation] cause [Effect] 9.3% organic revenue growth for the full year (slightly above management's revised outlook for organic sales growth of approximately 9%)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the Grail technology does not meet expectations, management's acquisition strategy and the board's oversight of that strategy--the key ESG risk the company faces, in our opinion--could come into question.",
    "output": "[Cause] the Grail technology does not meet expectations [Relation] cause [Effect] management's acquisition strategy and the board's oversight of that strategy--the key ESG risk the company faces, in our opinion--could come into question",
    "gold": "[Cause] the Grail technology does not meet expectations [Relation] cause [Effect] management's acquisition strategy and the board's oversight of that strategy--the key ESG risk the company faces, in our opinion--could come into question",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The boating industry remains fragmented, indicating a competitive landscape, which includes several key players that can intermittently compete on price to take market share.",
    "output": "[Cause] The boating industry remains fragmented [Relation] cause [Effect] indicating a competitive landscape, which includes several key players that can intermittently compete on price to take market share",
    "gold": "[Cause] indicating a competitive landscape, which includes several key players that can intermittently compete on price to take market share. [Relation] cause [Effect] The boating industry remains fragmented",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, after gaining distribution through these retailers, McCormick subsequently ran tests to showcase that by stocking an increased mix of higher-margin branded products, category sales for the retailer edged up.",
    "output": "[Cause] stocking an increased mix of higher-margin branded products [Relation] enable [Effect] category sales for the retailer edged up",
    "gold": "[Cause] these retailers [Relation] enable [Effect] gaining distribution",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While this pressures Biogen's profit share, subcutaneous Rituxan as well as novel antibody Gazyva will allow for extended (albeit smaller) oncology profit share.",
    "output": "[Cause] subcutaneous Rituxan as well as novel antibody Gazyva [Relation] enable [Effect] extended (albeit smaller) oncology profit share",
    "gold": "[Cause] subcutaneous Rituxan as well as novel antibody Gazyva [Relation] enable [Effect] extended (albeit smaller) oncology profit share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, we think any streamlining of convoluted zoning codes could pose a risk by reducing supply constraints in urban agglomerations.",
    "output": "[Cause] reducing supply constraints in urban agglomerations [Relation] cause [Effect] any streamlining of convoluted zoning codes could pose a risk",
    "gold": "[Cause] reducing supply constraints in urban agglomerations [Relation] cause [Effect] any streamlining of convoluted zoning codes could pose a risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Automakers have to set up assembly operations in various countries because of logistics and currency effects but mainly in order to meet governments' requirements to be considered local vehicle production.",
    "output": "[Cause] logistics and currency effects [Relation] cause [Effect] Automakers have to set up assembly operations in various countries",
    "gold": "[Cause]  logistics and currency effects [Relation] cause [Effect] Automakers have to set up assembly operations in various countries",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Automakers have to set up assembly operations in various countries because of logistics and currency effects but mainly in order to meet governments' requirements to be considered local vehicle production.",
    "output": "[Cause] meet governments' requirements to be considered local vehicle production [Relation] cause [Effect] Automakers have to set up assembly operations in various countries",
    "gold": "[Cause] Automakers have to set up assembly operations in various countries [Relation] enable [Effect] meet governments' requirements to be considered local vehicle production",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "When chipmakers operate numerous fabs around the world, maximizing throughput and reducing process variability across their fleet of tools are top priorities.",
    "output": "[Cause] chipmakers operate numerous fabs around the world [Relation] enable [Effect] maximizing throughput and reducing process variability across their fleet of tools are top priorities",
    "gold": "[Cause] chipmakers operate numerous fabs around the world [Relation] enable [Effect] maximizing throughput and reducing process variability across their fleet of tools are top priorities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect that the firm will continue to leverage strong ratings and audience loyalty to grow affiliate fees for Fox News faster than the average channel.",
    "output": "[Cause] the firm will continue to leverage strong ratings and audience loyalty [Relation] enable [Effect] grow affiliate fees for Fox News faster than the average channel",
    "gold": "[Cause] the firm will continue to leverage strong ratings and audience loyalty [Relation] enable [Effect] grow affiliate fees for Fox News faster than the average channel",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As more users post pins or save pins on their boards, other users benefit as they come across more products and ideas that help answer their questions, creating a network effect.",
    "output": "[Cause] more users post pins or save pins on their boards [Relation] cause [Effect] other users benefit",
    "gold": "[Cause] they come across more products and ideas that help answer their questions, creating a network effect [Relation] cause [Effect] more users post pins or save pins on their boards, other users benefit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Changes in reimbursement, the penetration of high-deductible plans, and more substantial cost-sharing measures have also left patients with a larger out-of-pocket burden, which could become a perennial drag on growth in diagnostics.",
    "output": "[Cause] Changes in reimbursement, the penetration of high-deductible plans, and more substantial cost-sharing measures [Relation] cause [Effect] left patients with a larger out-of-pocket burden",
    "gold": "[Cause] Changes in reimbursement, the penetration of high-deductible plans, and more substantial cost-sharing measures [Relation] cause [Effect]  left patients with a larger out-of-pocket burden",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For CP, coal has historically made up a larger proportion of its portfolio than it does for peer CN due to its agreement with Teck Resources to haul cost advantaged met coal for export.",
    "output": "[Cause] its agreement with Teck Resources to haul cost advantaged met coal for export [Relation] cause [Effect] coal has historically made up a larger proportion of its portfolio than it does for peer CN",
    "gold": "[Cause] its agreement with Teck Resources to haul cost advantaged met coal for export [Relation] cause [Effect] coal has historically made up a larger proportion of its portfolio than it does for peer CN",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of the demand rebound, total net revenue jumped 11% in 2020, while EBIT margin (calculated off net revenue) rose to 32.1% (from 29.1%) on the back of solid net revenue growth.",
    "output": "[Cause] the demand rebound [Relation] cause [Effect] total net revenue jumped 11% in 2020",
    "gold": "[Cause] the demand rebound [Relation] cause [Effect] total net revenue jumped 11% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of the demand rebound, total net revenue jumped 11% in 2020, while EBIT margin (calculated off net revenue) rose to 32.1% (from 29.1%) on the back of solid net revenue growth.",
    "output": "[Cause] the demand rebound [Relation] cause [Effect] total net revenue jumped 11% in 2020",
    "gold": "[Cause] on the back of solid net revenue growth [Relation] enable [Effect] EBIT margin (calculated off net revenue) rose to 32.1% (from 29.1%)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The shift in the competitive environment from what is essentially an oligopoly to a situation where Pearson may find itself competing against smaller, nimbler education-tech companies has the potential to be highly disruptive.",
    "output": "[Cause] The shift in the competitive environment from what is essentially an oligopoly to a situation where Pearson may find itself competing against smaller [Relation] cause [Effect] nimbler education-tech companies has the potential to be highly disruptive",
    "gold": "[Cause] The shift in the competitive environment from what is essentially an oligopoly to a situation where Pearson may find itself competing against smaller [Relation] cause [Effect] nimbler education-tech companies has the potential to be highly disruptive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the longer term, we assume robust growth from interventional cardiology, CRM, and neuromodulation through the midterm as pipeline products come to fruition.",
    "output": "[Cause] pipeline products come to fruition [Relation] cause [Effect] robust growth from interventional cardiology, CRM, and neuromodulation through the midterm",
    "gold": "[Cause]  pipeline products come to fruition [Relation] cause [Effect]  robust growth from interventional cardiology, CRM, and neuromodulation through the midterm",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, the shift to servicing the enterprise customer segment alongside its existing SMB base has cemented Fortinet's customer switching costs.",
    "output": "[Cause] the shift to servicing the enterprise customer segment alongside its existing SMB base [Relation] enable [Effect] cemented Fortinet's customer switching costs",
    "gold": "[Cause]  the shift to servicing the enterprise customer segment alongside its existing SMB base [Relation] enable [Effect] cemented Fortinet's customer switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, we expect the company to benefit from operating leverage as well as lower acquisition-related costs over the explicit forecast period, resulting in a 2024 operating margin of 24% compared with 15% in 2019.",
    "output": "[Cause] the company to benefit from operating leverage as well as lower acquisition-related costs over the explicit forecast period [Relation] cause [Effect] a 2024 operating margin of 24% compared with 15% in 2019",
    "gold": "[Cause]  the company to benefit from operating leverage as well as lower acquisition-related costs over the explicit forecast period [Relation] cause [Effect] a 2024 operating margin of 24% compared with 15% in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By the end of this boom, the two companies' combined share had perhaps fallen closer to 60% based on increasing competition from second-tier players like Russia's TMK and U.S.",
    "output": "[Cause] increasing competition from second-tier players like Russia's TMK and U.S [Relation] cause [Effect] the two companies' combined share had perhaps fallen closer to 60%",
    "gold": "[Cause] increasing competition from second-tier players like Russia's TMK and U.S [Relation] enable [Effect] the two companies' combined share had perhaps fallen closer to 60%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Most of its stores and those of its wholesale partners were forced to close temporarily due to the COVID-19 pandemic, which negatively affected its results in fiscal 2020 and 2021.",
    "output": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] Most of its stores and those of its wholesale partners were forced to close temporarily",
    "gold": "[Cause] the COVID-19 pandemic [Relation] prevent [Effect]  negatively affected its results in fiscal 2020 and 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Online ad revenue is expected to see a 10-year CAGR of 11%, driven by the gradual yet inevitable increase in ad inventories (for example, Moments and miniprograms) and ad formats, the continuous shift of marketing budgets to online and social media, and improving advertising technologies in targeting and conversion.",
    "output": "[Cause] the gradual yet inevitable increase in ad inventories (for example, Moments and miniprograms) and ad formats, the continuous shift of marketing budgets to online and social media, and improving advertising technologies in targeting and conversion [Relation] cause [Effect] Online ad revenue is expected to see a 10-year CAGR of 11%",
    "gold": "[Cause] the gradual yet inevitable increase in ad inventories (for example, Moments and miniprograms) and ad formats, the continuous shift of marketing budgets to online and social media, and improving advertising technologies in targeting and conversion [Relation] cause [Effect] Online ad revenue is expected to see a 10-year CAGR of 11%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As with other companies under our coverage that have self-service models and include SMB in their customer base, customer churn is likely elevated.",
    "output": "[Cause] have self-service models and include SMB in their customer base [Relation] cause [Effect] customer churn is likely elevated",
    "gold": "[Cause] have self-service models and include SMB in their customer base [Relation] cause [Effect] customer churn is likely elevated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The main point of uncertainty for the firm is that the performance of many of its business lines are tied directly to market events.",
    "output": "[Cause] the performance of many of its business lines are tied directly to market events [Relation] cause [Effect] The main point of uncertainty for the firm",
    "gold": "[Cause]  the performance of many of its business lines are tied directly to market events [Relation] cause [Effect] The main point of uncertainty for the firm",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the one side, all the aforementioned products have provided Google with a massive consumer base that allows the company to collect data.",
    "output": "[Cause] all the aforementioned products have provided Google with a massive consumer base [Relation] enable [Effect] the company to collect data",
    "gold": "[Cause]  all the aforementioned products have provided Google with a massive consumer base [Relation] enable [Effect] the company to collect data",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over our forecast period, we use an average investment yield on securities of about 3%, as interest rates have recently fallen, but project the investment yield to be above 4% in the long run in a more normalized interest-rate environment.",
    "output": "[Cause] interest rates have recently fallen [Relation] cause [Effect] we use an average investment yield on securities of about 3%",
    "gold": "[Cause] interest rates have recently fallen [Relation] cause [Effect] we use an average investment yield on securities of about 3%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additional ESG risks include potential patent litigation as the company relies on new technology to improve its EVs and energy storage systems.",
    "output": "[Cause] the company relies on new technology to improve its EVs and energy storage systems [Relation] cause [Effect] Additional ESG risks include potential patent litigation",
    "gold": "[Cause] the company relies on new technology to improve its EVs and energy storage systems [Relation] cause [Effect] Additional ESG risks include potential patent litigation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, China has a shortage of protein after a 2019 outbreak of African swine fever resulted in a 40% reduction in the country's hog population.",
    "output": "[Cause] a 2019 outbreak of African swine fever [Relation] cause [Effect] China has a shortage of protein",
    "gold": "[Cause] a 2019 outbreak of African swine fever [Relation] cause [Effect] China has a shortage of protein",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, community members often act as a hurdle for self-storage development, as these facilities are viewed more negatively than residential properties or manufacturing facilities that could provide housing and jobs that could increase the surrounding property value. Therefore, it can occasionally take years to gain approval to build new facilities in core, crowded markets, which has occurred for Extra Space.",
    "output": "[Cause] community members often act as a hurdle for self-storage development, as these facilities are viewed more negatively than residential properties or manufacturing facilities that could provide housing and jobs that could increase the surrounding property value [Relation] cause [Effect] it can occasionally take years to gain approval to build new facilities in core, crowded markets, which has occurred for Extra Space",
    "gold": "[Cause] community members often act as a hurdle for self-storage development, as these facilities are viewed more negatively than residential properties or manufacturing facilities that could provide housing and jobs that could increase the surrounding property value [Relation] cause [Effect] it can occasionally take years to gain approval to build new facilities in core, crowded markets, which has occurred for Extra Space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think this trend will continue playing out over the next few decades, as aircraft development and replacement is a slow process and several important aircraft types, notably narrow-bodies, have low composite penetration, so we view Hexcel as a long-term growth story within aerospace.",
    "output": "[Cause] aircraft development and replacement is a slow process and several important aircraft types, notably narrow-bodies, have low composite penetration [Relation] cause [Effect] this trend will continue playing out over the next few decades",
    "gold": "[Cause]  aircraft development and replacement is a slow process and several important aircraft types, notably narrow-bodies, have low composite penetration [Relation] cause [Effect] this trend will continue playing out over the next few decades",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think this trend will continue playing out over the next few decades, as aircraft development and replacement is a slow process and several important aircraft types, notably narrow-bodies, have low composite penetration, so we view Hexcel as a long-term growth story within aerospace.",
    "output": "[Cause] aircraft development and replacement is a slow process and several important aircraft types, notably narrow-bodies, have low composite penetration [Relation] cause [Effect] we view Hexcel as a long-term growth story within aerospace",
    "gold": "[Cause]  aircraft development and replacement is a slow process and several important aircraft types, notably narrow-bodies, have low composite penetration [Relation] cause [Effect] we view Hexcel as a long-term growth story within aerospace",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect cybersecurity vendors to benefit from enterprises continually investing in cybersecurity protection due to the exponentially growing amount of data and increased quantity of network end point connections creating additional threat opportunities.",
    "output": "[Cause] the exponentially growing amount of data and increased quantity of network end point connections creating additional threat opportunities [Relation] cause [Effect] cybersecurity vendors to benefit from enterprises continually investing in cybersecurity protection",
    "gold": "[Cause]  the exponentially growing amount of data and increased quantity of network end point connections creating additional threat opportunities [Relation] cause [Effect] cybersecurity vendors to benefit from enterprises continually investing in cybersecurity protection",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite the bill failing to pass, it remains clear that the regulatory environment can at times change once the incentive for doing so is widely recognized.",
    "output": "[Cause] the incentive for doing so is widely recognized [Relation] cause [Effect] the regulatory environment can at times change",
    "gold": "[Cause] the incentive for doing so is widely recognized [Relation] cause [Effect] the regulatory environment can at times change",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This market structure has enabled Sky to offer multiple telecom services to its customers, reducing the bundling disadvantage it faces.",
    "output": "[Cause] Sky to offer multiple telecom services to its customers [Relation] enable [Effect] reducing the bundling disadvantage it faces",
    "gold": "[Cause] Sky to offer multiple telecom services to its customers [Relation] enable [Effect] reducing the bundling disadvantage it faces",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect that Wesco will continue to pursue strategic acquisitions, the success of which is uncertain, and a variety of factors, such as unfavorable deal terms, integration issues, and subsequent acquisition underperformance, could destroy shareholder value.",
    "output": "[Cause] Wesco will continue to pursue strategic acquisitions [Relation] cause [Effect] destroy shareholder value",
    "gold": "[Cause] unfavorable deal terms, integration issues, and subsequent acquisition underperformance [Relation] prevent [Effect] destroy shareholder value",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Following significant core sales declines across all four segments in 2020 due to the COVID-19 pandemic, we forecast an average annual organic revenue growth rate for the firm of approximately 6% through 2025.",
    "output": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] Following significant core sales declines across all four segments in 2020",
    "gold": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] Following significant core sales declines across all four segments in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe these moves, coupled with smart investment in the core business, have added value and enhanced NBCU's competitive position.",
    "output": "[Cause] these moves, coupled with smart investment in the core business [Relation] enable [Effect] added value and enhanced NBCU's competitive position",
    "gold": "[Cause]  these moves, coupled with smart investment in the core business [Relation] enable [Effect] added value and enhanced NBCU's competitive position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, since water utilities tend to be risk-averse, they do not typically replace an individual pump that is part of a pumping network with an alternative one that uses different technology.",
    "output": "[Cause] water utilities tend to be risk-averse [Relation] cause [Effect] they do not typically replace an individual pump that is part of a pumping network with an alternative one that uses different technology",
    "gold": "[Cause] water utilities tend to be risk-averse [Relation] cause [Effect] they do not typically replace an individual pump that is part of a pumping network with an alternative one that uses different technology",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, Malibu has solidified its presence in the industry by focusing on vertical integration in recent years, moving production of its towers (overhead frames mounted to the hull) in-house and developing its own lines of engines, trailers, and trailer accessories.",
    "output": "[Cause] focusing on vertical integration in recent years, moving production of its towers (overhead frames mounted to the hull) in-house and developing its own lines of engines, trailers, and trailer accessories [Relation] enable [Effect] Malibu has solidified its presence in the industry",
    "gold": "[Cause] focusing on vertical integration in recent years, moving production of its towers (overhead frames mounted to the hull) in-house and developing its own lines of engines, trailers, and trailer accessories [Relation] cause [Effect] Malibu has solidified its presence in the industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "FirstEnergy is on track to restore its investment-grade credit ratings and this should reduce the headwind on regulated transmission segment earnings.",
    "output": "[Cause] FirstEnergy is on track to restore its investment-grade credit ratings [Relation] enable [Effect] reduce the headwind on regulated transmission segment earnings",
    "gold": "[Cause] FirstEnergy is on track to restore its investment-grade credit ratings [Relation] enable [Effect] reduce the headwind on regulated transmission segment earnings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ASML's immersion lithography tools have allowed the company to capture and maintain the leading position in the marketplace, while competitors like Nikon and Canon do not have the scale or resources to compete in EUV.",
    "output": "[Cause] ASML's immersion lithography tools [Relation] enable [Effect] the company to capture and maintain the leading position in the marketplace",
    "gold": "[Cause] ASML's immersion lithography tools [Relation] enable [Effect] the company to capture and maintain the leading position in the marketplace",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, Western would be unable to charge a premium for its SSDs鈥攊n the consumer or enterprise market鈥攇iven other near-identical offerings at a lower cost per gigabyte.",
    "output": "[Cause] the consumer or enterprise marketiven other near-identical offerings at a lower cost per gigabyte [Relation] cause [Effect] Western would be unable to charge a premium for its SSDs",
    "gold": "[Cause]  the consumer or enterprise market鈥攇iven other near-identical offerings at a lower cost per gigabyte [Relation] cause [Effect]  Western would be unable to charge a premium for its SSD",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "National scale enables Capital One to have a diversified cardholder base across multiple geographies and FICO scores, which results in incremental earnings from sales growth as a large portion of the company's costs are fixed.",
    "output": "[Cause] National scale [Relation] enable [Effect] Capital One to have a diversified cardholder base across multiple geographies and FICO scores",
    "gold": "[Cause] National scale enables Capital One to have a diversified cardholder base across multiple geographies and FICO scores [Relation] cause [Effect]  results in incremental earnings from sales growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Advances in lithography have been critical in the doubling of functionality or performance of a chip at the same cost.",
    "output": "[Cause] Advances in lithography [Relation] enable [Effect] critical in the doubling of functionality or performance of a chip at the same cost",
    "gold": "[Cause] Advances in lithography [Relation] enable [Effect] critical in the doubling of functionality or performance of a chip at the same cost",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a large producer of commodity chemicals with hydrocarbon-based feedstocks, BASF is exposed to fluctuations in oil and gas prices.",
    "output": "[Cause] a large producer of commodity chemicals with hydrocarbon-based feedstocks [Relation] cause [Effect] BASF is exposed to fluctuations in oil and gas prices",
    "gold": "[Cause] a large producer of commodity chemicals with hydrocarbon-based feedstocks [Relation] cause [Effect]  BASF is exposed to fluctuations in oil and gas prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By virtue of the widespread penetration of Creative Cloud, creative professionals have significant incentive to become well versed in the solutions therein.",
    "output": "[Cause] the widespread penetration of Creative Cloud [Relation] enable [Effect] creative professionals have significant incentive to become well versed in the solutions therein",
    "gold": "[Cause] the widespread penetration of Creative Cloud [Relation] cause [Effect] creative professionals have significant incentive to become well versed in the solutions therein",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The primary driver of higher earnings will be increased consumption of human-grade choline. This will be supported by the Food and Drug Administration's recently established reference dietary intake recommendation, as well as increased inclusion in prenatal vitamins and better distribution.",
    "output": "[Cause] The primary driver of higher earnings will be increased consumption of human-grade choline [Relation] enable [Effect] supported by the Food and Drug Administration's recently established reference dietary intake recommendation, as well as increased inclusion in prenatal vitamins and better distribution",
    "gold": "[Cause] the Food and Drug Administration's recently established reference dietary intake recommendation, as well as increased inclusion in prenatal vitamins and better distribution [Relation] enable [Effect] The primary driver of higher earnings will be increased consumption of human-grade choline",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over the near term, tariffs and shipping costs could put pressure on operating margins, if the duration of these costs persist longer than we anticipate.",
    "output": "[Cause] tariffs and shipping costs [Relation] cause [Effect] put pressure on operating margins",
    "gold": "[Cause]  tariffs and shipping costs [Relation] enable [Effect] put pressure on operating margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect long-term profits to recover from higher prices and lower unit production costs as Nutrien continues to transition production to lower-cost mines from its higher-cost operations.",
    "output": "[Cause] Nutrien continues to transition production to lower-cost mines from its higher-cost operations [Relation] cause [Effect] long-term profits to recover from higher prices and lower unit production costs",
    "gold": "[Cause] Nutrien continues to transition production to lower-cost mines from its higher-cost operations [Relation] enable [Effect] long-term profits to recover from higher prices and lower unit production costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sales of Eylea grew at a double-digit pace through 2019, as sales outside the United States ramped up and usage in new indications like diabetic macular edema took hold.",
    "output": "[Cause] sales outside the United States ramped up and usage in new indications like diabetic macular edema took hold [Relation] cause [Effect] Sales of Eylea grew at a double-digit pace through 2019",
    "gold": "[Cause]  sales outside the United States ramped up and usage in new indications like diabetic macular edema took hold [Relation] cause [Effect] Sales of Eylea grew at a double-digit pace through 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are increasing our fair value estimate to $57 per share from $55 per share after updating our model for third-quarter results and moderating the short-term impact of the coronavirus in our senior housing assumptions.",
    "output": "[Cause] updating our model for third-quarter results and moderating the short-term impact of the coronavirus in our senior housing assumptions [Relation] cause [Effect] increasing our fair value estimate to $57 per share from $55 per share",
    "gold": "[Cause] updating our model for third-quarter results and moderating the short-term impact of the coronavirus in our senior housing assumptions [Relation] cause [Effect] increasing our fair value estimate to $57 per share from $55 per share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The 2013 Supreme Court case ruling primarily eroded the company's intangible assets, as competitors were able to enter the market and conduct testing on BRCA genes.",
    "output": "[Cause] competitors were able to enter the market and conduct testing on BRCA genes [Relation] cause [Effect] The 2013 Supreme Court case ruling primarily eroded the company's intangible assets",
    "gold": "[Cause] competitors were able to enter the market and conduct testing on BRCA genes [Relation] cause [Effect] The 2013 Supreme Court case ruling primarily eroded the company's intangible assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result of this, firms are generally reluctant to switch providers frequently, which leads to high retention rates across the business.",
    "output": "[Cause] firms are generally reluctant to switch providers frequently [Relation] cause [Effect] high retention rates across the business",
    "gold": "[Cause] firms are generally reluctant to switch providers frequently [Relation] cause [Effect] high retention rates across the business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The average life span of Fanuc's CNC is 20.2 years, so throughout the years of customers owning the CNCs, relations between the service staff and customers are developed, which is a key source of the company's intangible asset.",
    "output": "[Cause] The average life span of Fanuc's CNC is 20.2 years [Relation] cause [Effect] relations between the service staff and customers are developed",
    "gold": "[Cause] the years of customers owning the CNCs, relations between the service staff and customers are developed [Relation] cause [Effect] is a key source of the company's intangible asset",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Reality Income's dependence on acquisitions to drive growth makes it subject to changes in the private markets and capital markets.",
    "output": "[Cause] Reality Income's dependence on acquisitions to drive growth [Relation] cause [Effect] subject to changes in the private markets and capital markets",
    "gold": "[Cause] Reality Income's dependence on acquisitions to drive growth [Relation] enable [Effect]  subject to changes in the private markets and capital markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Demographic shifts, an increasing number of meals prepared at home, increased consumer demand for delivery and other off-premises solutions, emergent fast-casual concepts, and ongoing consumer spending headwinds could damp top-line results.",
    "output": "[Cause] Demographic shifts, an increasing number of meals prepared at home, increased consumer demand for delivery and other off-premises solutions, emergent fast-casual concepts, and ongoing consumer spending headwinds [Relation] prevent [Effect] top-line results",
    "gold": "[Cause] Demographic shifts, an increasing number of meals prepared at home, increased consumer demand for delivery and other off-premises solutions, emergent fast-casual concepts, and ongoing consumer spending headwinds [Relation] prevent [Effect]  top-line results",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although CP's intermodal franchise growth has lagged that of CN over the past decade, we expect PSR-related service enhancements to drive incremental growth opportunities as economic conditions recover.",
    "output": "[Cause] economic conditions recover [Relation] enable [Effect] PSR-related service enhancements to drive incremental growth opportunities",
    "gold": "[Cause] economic conditions recover [Relation] enable [Effect] PSR-related service enhancements to drive incremental growth opportunities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While this has helped sustain an oligopoly market structure, emerging competition from China has still weighed on pricing power for incumbents, diluting the potency of any such switching costs.",
    "output": "[Cause] emerging competition from China [Relation] prevent [Effect] pricing power for incumbents",
    "gold": "[Cause] emerging competition from China [Relation] prevent [Effect] pricing power for incumbents",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While this has helped sustain an oligopoly market structure, emerging competition from China has still weighed on pricing power for incumbents, diluting the potency of any such switching costs.",
    "output": "[Cause] emerging competition from China [Relation] prevent [Effect] pricing power for incumbents",
    "gold": "[Cause] emerging competition from China [Relation] cause [Effect] diluting the potency of any such switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Gap outperformed our sales and profitability estimates in the first quarter of 2021 as, like others in the industry, it benefited from government stimulus payments, low markdown rates, and pent-up demand.",
    "output": "[Cause] it benefited from government stimulus payments, low markdown rates, and pent-up demand [Relation] cause [Effect] Gap outperformed our sales and profitability estimates in the first quarter of 2021",
    "gold": "[Cause] it benefited from government stimulus payments, low markdown rates, and pent-up demand [Relation] cause [Effect] Gap outperformed our sales and profitability estimates in the first quarter of 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe IQVIA, with its significant CRO market share and unparalleled data capabilities, is best positioned to lead the way with real-world evidence work compared with its peers.",
    "output": "[Cause] its significant CRO market share and unparalleled data capabilities [Relation] enable [Effect] best positioned to lead the way with real-world evidence work compared with its peers",
    "gold": "[Cause]  its significant CRO market share and unparalleled data capabilities [Relation] enable [Effect]  best positioned to lead the way with real-world evidence work compared with its peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see noninterest income increasing at a compound annual growth rate of roughly 2%-4% during normal times, with some pressure emerging in 2021 as we expect mortgage fees may fall off. This leads us to expect an average return on tangible equity of 15% for our forecast period, compared with the cost of equity of 9%.",
    "output": "[Cause] noninterest income increasing at a compound annual growth rate of roughly 2%-4% during normal times, with some pressure emerging in 2021 as we expect mortgage fees may fall off [Relation] cause [Effect] an average return on tangible equity of 15% for our forecast period, compared with the cost of equity of 9%",
    "gold": "[Cause] noninterest income increasing at a compound annual growth rate of roughly 2%-4% during normal times, with some pressure emerging in 2021 as we expect mortgage fees may fall off [Relation] cause [Effect] an average return on tangible equity of 15% for our forecast period, compared with the cost of equity of 9%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For much of the past decade, Evercore grew faster than peers, but it may be maturing, as it now has over 105 senior managing directors compared with about 60 in 2011.",
    "output": "[Cause] it now has over 105 senior managing directors compared with about 60 in 2011 [Relation] cause [Effect] it may be maturing",
    "gold": "[Cause] it now has over 105 senior managing directors compared with about 60 in 2011 [Relation] cause [Effect]  it may be maturing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast companywide sales to grow at a mid-single-digit average annual rate during the next five years, as we expect all of DuPont's businesses to fully recover after a COVID-19-related decline in 2020.",
    "output": "[Cause] we expect all of DuPont's businesses to fully recover after a COVID-19-related decline in 2020 [Relation] cause [Effect] companywide sales to grow at a mid-single-digit average annual rate during the next five years",
    "gold": "[Cause] we expect all of DuPont's businesses to fully recover after a COVID-19-related decline in 2020 [Relation] cause [Effect] companywide sales to grow at a mid-single-digit average annual rate during the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the gross margin improvements have helped improve Dropbox's bottom line, we do not believe that the storage of content in and of itself creates switching costs for users.",
    "output": "[Cause] the gross margin improvements [Relation] enable [Effect] improve Dropbox's bottom line",
    "gold": "[Cause] the gross margin improvements [Relation] enable [Effect] improve Dropbox's bottom line",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The effects should be limited, considering Sprouts' limited assortments in key pandemic-charged categories like household cleaning supplies, with low-single-digit comparable growth in the fourth quarter leading to about 7% expansion for the year.",
    "output": "[Cause] considering Sprouts' limited assortments in key pandemic-charged categories like household cleaning supplies, with low-single-digit comparable growth in the fourth quarter [Relation] cause [Effect] about 7% expansion for the year",
    "gold": "[Cause] considering Sprouts' limited assortments in key pandemic-charged categories like household cleaning supplies [Relation] cause [Effect] The effects should be limited",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Sprouts has capitalized on a natural, health-oriented positioning aligned with culinary trends, but we believe it faces a competitive onslaught as conventional grocers, mass merchandisers, hard discounters, and online sellers target the same themes.",
    "output": "[Cause] conventional grocers, mass merchandisers, hard discounters, and online sellers target the same themes [Relation] cause [Effect] it faces a competitive onslaught",
    "gold": "[Cause] conventional grocers, mass merchandisers, hard discounters, and online sellers target the same themes [Relation] cause [Effect] it faces a competitive onslaught",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assign the Canadian banks we cover a medium uncertainty rating, which we think captures the spread between our bull and bear cases relative to our base case.",
    "output": "[Cause] the spread between our bull and bear cases relative to our base case [Relation] cause [Effect] We assign the Canadian banks we cover a medium uncertainty rating",
    "gold": "[Cause] the spread between our bull and bear cases relative to our base case [Relation] cause [Effect] We assign the Canadian banks we cover a medium uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Internationally, the company risks marketing improperly to audiences in Mexico and Canada, which could have different consumption preferences than Americans.",
    "output": "[Cause] the company risks marketing improperly to audiences in Mexico and Canada [Relation] cause [Effect] have different consumption preferences than Americans",
    "gold": "[Cause]  the company risks marketing improperly to audiences in Mexico and Canada [Relation] cause [Effect]  the company risks marketing improperly to audiences in Mexico and Canada",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A highly salient example of this is the explosion of a PW4000 over Denver in 2021, which caused several aircraft to be grounded.",
    "output": "[Cause] the explosion of a PW4000 over Denver in 2021 [Relation] cause [Effect] several aircraft to be grounded",
    "gold": "[Cause]  the explosion of a PW4000 over Denver in 2021 [Relation] cause [Effect] several aircraft to be grounded",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These expensive, high horsepower chips require a constant, steady supply of power, and QSMod's precision is well suited to be integrated alongside such processors. Thus, Monolithic can serve a variety of applications with a centralized technology, incurring relatively low incremental research and development (R&amp;D) expense for each iteration.",
    "output": "[Cause] These expensive, high horsepower chips require a constant, steady supply of power, and QSMod's precision is well suited to be integrated alongside such processors [Relation] cause [Effect] Monolithic can serve a variety of applications with a centralized technology, incurring relatively low incremental research and development (R&amp;D) expense for each iteration",
    "gold": "[Cause] These expensive, high horsepower chips require a constant, steady supply of power, and QSMod's precision is well suited to be integrated alongside such processors [Relation] cause [Effect] Monolithic can serve a variety of applications with a centralized technology, incurring relatively low incremental research and development (R&amp;D) expense for each iteration",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast institutional trading and investment banking revenue being down slighly over the next five years, as 2020 was an exceptionally good environment for capital raising and trading activity.",
    "output": "[Cause] 2020 was an exceptionally good environment for capital raising and trading activity [Relation] cause [Effect] institutional trading and investment banking revenue being down slighly over the next five years",
    "gold": "[Cause] 2020 was an exceptionally good environment for capital raising and trading activity [Relation] cause [Effect]  institutional trading and investment banking revenue being down slighly over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This high local market share remains particularly valuable in the health insurance industry since medical care providers typically only operate in limited geographic areas, making local market share the most relevant to most reimbursement negotiations.",
    "output": "[Cause] medical care providers typically only operate in limited geographic areas [Relation] cause [Effect] This high local market share remains particularly valuable in the health insurance industry",
    "gold": "[Cause] medical care providers typically only operate in limited geographic areas [Relation] cause [Effect] making local market share the most relevant to most reimbursement negotiations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This high local market share remains particularly valuable in the health insurance industry since medical care providers typically only operate in limited geographic areas, making local market share the most relevant to most reimbursement negotiations.",
    "output": "[Cause] medical care providers typically only operate in limited geographic areas [Relation] cause [Effect] making local market share the most relevant to most reimbursement negotiations",
    "gold": "[Cause] medical care providers typically only operate in limited geographic areas [Relation] cause [Effect] This high local market share remains particularly valuable in the health insurance industry",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With sales still strong, pandemic-related costs falling, channel and product mix improving, and Walmart realizing full-year cost benefits from omnichannel optimization work, we expect margin benefits despite rising freight costs (4.5% forecast adjusted operating margin in fiscal 2022, from fiscal 2021's 4.1%).",
    "output": "[Cause] sales still strong, pandemic-related costs falling, channel and product mix improving, and Walmart realizing full-year cost benefits from omnichannel optimization work [Relation] cause [Effect] margin benefits despite rising freight costs",
    "gold": "[Cause] sales still strong, pandemic-related costs falling, channel and product mix improving, and Walmart realizing full-year cost benefits from omnichannel optimization work [Relation] cause [Effect] margin benefits despite rising freight costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These factors will result in increased construction equipment revenue for Deere, leading us to forecast over 8% average sales growth over the next five years.",
    "output": "[Cause] These factors [Relation] cause [Effect] increased construction equipment revenue for Deere, leading us to forecast over 8% average sales growth over the next five years",
    "gold": "[Cause] These factors [Relation] enable [Effect]  increased construction equipment revenue for Deere, leading us to forecast over 8% average sales growth over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "OEMs, with some exceptions, such as TransDigm, will also occasionally license out the right to create a part to a third-party manufacturer to avoid low-production inefficiencies for supporting every component.",
    "output": "[Cause] OEMs, with some exceptions, such as TransDigm, will also occasionally license out the right to create a part to a third-party manufacturer [Relation] prevent [Effect] low-production inefficiencies for supporting every component",
    "gold": "[Cause] avoid low-production inefficiencies for supporting every component [Relation] cause [Effect] license out the right to create a part to a third-party manufacturer",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With Verizon's focus on wireless, though, Cablevision still claims customer penetration at around 60% of homes and businesses passed, a solid market share lead versus FiOS and other phone rivals.",
    "output": "[Cause] Verizon's focus on wireless [Relation] cause [Effect] Cablevision still claims customer penetration at around 60% of homes and businesses passed",
    "gold": "[Cause] a solid market share [Relation] enable [Effect] Cablevision still claims customer penetration at around 60% of homes and businesses passed",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As it relates to both Coca-Cola Femsa and the proximity division, factors endemic to their geographic exposure act as common threads limiting our confidence in the durability of their excess profits.",
    "output": "[Cause] it relates to both Coca-Cola Femsa and the proximity division [Relation] cause [Effect] factors endemic to their geographic exposure act as common threads limiting our confidence in the durability of their excess profits",
    "gold": "[Cause] factors endemic to their geographic exposure [Relation] prevent [Effect] our confidence in the durability of their excess profits",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As it relates to both Coca-Cola Femsa and the proximity division, factors endemic to their geographic exposure act as common threads limiting our confidence in the durability of their excess profits.",
    "output": "[Cause] factors endemic to their geographic exposure [Relation] prevent [Effect] our confidence in the durability of their excess profits",
    "gold": "[Cause] it relates to both Coca-Cola Femsa and the proximity division [Relation] cause [Effect] factors endemic to their geographic exposure act as common threads limiting our confidence in the durability of their excess profits",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect these returns to remain at around 31% on average during the next five years, remaining strong and helped by cost leverage in fiscal 2021 stemming from higher volume demand as COVID-19 boosts the sales of products that offer social distancing.",
    "output": "[Cause] COVID-19 boosts the sales of products that offer social distancing [Relation] cause [Effect] cost leverage in fiscal 2021",
    "gold": "[Cause]  COVID-19 boosts the sales of products that offer social distancing [Relation] cause [Effect] higher volume demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect these returns to remain at around 31% on average during the next five years, remaining strong and helped by cost leverage in fiscal 2021 stemming from higher volume demand as COVID-19 boosts the sales of products that offer social distancing.",
    "output": "[Cause] COVID-19 boosts the sales of products that offer social distancing [Relation] cause [Effect] cost leverage in fiscal 2021",
    "gold": "[Cause] higher volume demand [Relation] cause [Effect] cost leverage in fiscal 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect these returns to remain at around 31% on average during the next five years, remaining strong and helped by cost leverage in fiscal 2021 stemming from higher volume demand as COVID-19 boosts the sales of products that offer social distancing.",
    "output": "[Cause] higher volume demand [Relation] cause [Effect] cost leverage in fiscal 2021",
    "gold": "[Cause] cost leverage in fiscal 2021 [Relation] cause [Effect] these returns to remain at around 31% on average during the next five years, remaining strong",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nevertheless, we don't think Western's mass capacity HDDs are sufficiently differentiated from rival Seagate's to command pricing power, and expect HDD sales and margins to shrink once the market hits a cyclical downturn.",
    "output": "[Cause] the market hits a cyclical downturn [Relation] cause [Effect] HDD sales and margins to shrink",
    "gold": "[Cause] the market hits a cyclical downturn [Relation] cause [Effect] HDD sales and margins to shrink",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result of selling a larger percentage of higher-margin services and subscriptions, we model gross margins expanding toward 80% in 2024 compared with 77% in 2019.",
    "output": "[Cause] selling a larger percentage of higher-margin services and subscriptions [Relation] cause [Effect] gross margins expanding toward 80% in 2024 compared with 77% in 2019",
    "gold": "[Cause] selling a larger percentage of higher-margin services and subscriptions [Relation] cause [Effect]  gross margins expanding toward 80% in 2024 compared with 77% in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have a very high uncertainty rating on Guardant Health, with strong competition expected in liquid biopsy over the next decade, and we see a scenario where Guardant does not achieve positive free cash flow over our 10-year forecast. This risk of material value destruction weighs on our forecasts and leads us to award a very high uncertainty rating.",
    "output": "[Cause] We have a very high uncertainty rating on Guardant Health, with strong competition expected in liquid biopsy over the next decade, and we see a scenario where Guardant does not achieve positive free cash flow over our 10-year forecast [Relation] cause [Effect] weighs on our forecasts and leads us to award a very high uncertainty rating",
    "gold": "[Cause] We have a very high uncertainty rating on Guardant Health, with strong competition expected in liquid biopsy over the next decade, and we see a scenario where Guardant does not achieve positive free cash flow over our 10-year forecast [Relation] cause [Effect] weighs on our forecasts and leads us to award a very high uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While projecting continued growth in .com and .net registrations, we think a large risk remains that VeriSign (currently 44% of registered domains) will cede some market share in coming years as new top-level domains (TLD) are introduced.",
    "output": "[Cause] new top-level domains (TLD) are introduced [Relation] cause [Effect] a large risk remains that VeriSign (currently 44% of registered domains) will cede some market share in coming years",
    "gold": "[Cause] new top-level domains (TLD) are introduced [Relation] cause [Effect] a large risk remains that VeriSign (currently 44% of registered domains) will cede some market share in coming years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast capital expenditures as a percentage of sales drop to 3.8% annually over the next decade as store openings slow and less in-store investment is needed.",
    "output": "[Cause] store openings slow and less in-store investment is needed [Relation] cause [Effect] capital expenditures as a percentage of sales drop to 3.8% annually over the next decade",
    "gold": "[Cause] store openings slow and less in-store investment is needed [Relation] enable [Effect]  capital expenditures as a percentage of sales drop to 3.8% annually over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the synergy targets are achievable, particularly as the firm is led by a management team with an impressive record.",
    "output": "[Cause] the firm is led by a management team with an impressive record [Relation] cause [Effect] the synergy targets are achievable",
    "gold": "[Cause] the firm is led by a management team with an impressive record [Relation] enable [Effect] the synergy targets are achievable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume a 7% cost of equity, lower than the 9% rate of return we expect investors will demand of a diversified equity portfolio because of CenterPoint's lower sensitivity to the economic cycle and low degree of operating leverage.",
    "output": "[Cause] CenterPoint's lower sensitivity to the economic cycle and low degree of operating leverage [Relation] cause [Effect] investors will demand of a diversified equity portfolio",
    "gold": "[Cause]  CenterPoint's lower sensitivity to the economic cycle and low degree of operating leverage [Relation] cause [Effect] a 7% cost of equity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the increasing proliferation of data generated and the rise of the ''Internet of Things,'' into which Zebra supplies critical hardware, will drive the company's top-line growth.",
    "output": "[Cause] the increasing proliferation of data generated and the rise of the ''Internet of Things,'' into which Zebra supplies critical hardware [Relation] enable [Effect] drive the company's top-line growth",
    "gold": "[Cause] the increasing proliferation of data generated and the rise of the ''Internet of Things,'' into which Zebra supplies critical hardware [Relation] enable [Effect] drive the company's top-line growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect 3.8% organic sales growth in 2021, as continued at-home eating benefits the first three quarters, partially offset by a fourth-quarter decline when peak pantry-stocking is lapped.",
    "output": "[Cause] continued at-home eating benefits the first three quarters [Relation] cause [Effect] 3.8% organic sales growth in 2021",
    "gold": "[Cause] continued at-home eating benefits the first three quarters [Relation] cause [Effect]  offset by a fourth-quarter decline when peak pantry-stocking is lapped",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect 3.8% organic sales growth in 2021, as continued at-home eating benefits the first three quarters, partially offset by a fourth-quarter decline when peak pantry-stocking is lapped.",
    "output": "[Cause] peak pantry-stocking is lapped [Relation] cause [Effect] a fourth-quarter decline",
    "gold": "[Cause] continued at-home eating benefits the first three quarters [Relation] cause [Effect] 3.8% organic sales growth in 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect 3.8% organic sales growth in 2021, as continued at-home eating benefits the first three quarters, partially offset by a fourth-quarter decline when peak pantry-stocking is lapped.",
    "output": "[Cause] peak pantry-stocking is lapped [Relation] cause [Effect] a fourth-quarter decline",
    "gold": "[Cause] partially offset by a fourth-quarter decline [Relation] cause [Effect] peak pantry-stocking is lapped",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additional renewal periods can lengthen those initial contract periods by several years as well, especially if the relationship is deemed satisfactory between a state and its managed-care plan providers.",
    "output": "[Cause] Additional renewal periods [Relation] enable [Effect] lengthen those initial contract periods by several years as well",
    "gold": "[Cause] the relationship is deemed satisfactory between a state and its managed-care plan providers [Relation] enable [Effect] Additional renewal periods can lengthen those initial contract periods by several years as well",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Recent margin increases for both the LGM and IHM segments, due to a larger mix of graphics and performance tapes, could prove temporary as competitors begin to take advantage of the profitability of these products.",
    "output": "[Cause] a larger mix of graphics and performance tapes [Relation] cause [Effect] Recent margin increases for both the LGM and IHM segments",
    "gold": "[Cause] competitors begin to take advantage of the profitability of these products [Relation] cause [Effect] prove temporary",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Recent margin increases for both the LGM and IHM segments, due to a larger mix of graphics and performance tapes, could prove temporary as competitors begin to take advantage of the profitability of these products.",
    "output": "[Cause] competitors begin to take advantage of the profitability of these products [Relation] cause [Effect] Recent margin increases for both the LGM and IHM segments",
    "gold": "[Cause] a larger mix of graphics and performance tapes [Relation] enable [Effect] Recent margin increases for both the LGM and IHM segments",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, we model GAAP midcycle operating margins between 27% and 28% based on the firm's operating excellence initiatives, particularly given Ametek's laser-like focus on reducing targets' raw material costs.",
    "output": "[Cause] Ametek's laser-like focus on reducing targets' raw material costs [Relation] cause [Effect] we model GAAP midcycle operating margins between 27% and 28%",
    "gold": "[Cause] Ametek's laser-like focus on reducing targets' raw material costs [Relation] cause [Effect] we model GAAP midcycle operating margins between 27% and 28%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While a small portion of the firm's total revenue, GMNS plays a key role in American Express' strategy as it houses the company's network business.",
    "output": "[Cause] it houses the company's network business [Relation] cause [Effect] GMNS plays a key role in American Express' strategy",
    "gold": "[Cause]  it houses the company's network business [Relation] cause [Effect] GMNS plays a key role in American Express' strategy",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect life sciences to have higher near-term growth because of tailwinds related to COVID-19 diagnostic testing, and we also anticipate sales in the diagnostic segment returning to a prepandemic level by the end of 2021.",
    "output": "[Cause] tailwinds related to COVID-19 diagnostic testing [Relation] cause [Effect] life sciences to have higher near-term growth",
    "gold": "[Cause] tailwinds related to COVID-19 diagnostic testing [Relation] enable [Effect] life sciences to have higher near-term growth | sales in the diagnostic segment returning to a prepandemic level by the end of 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "TAL Education has been able to raise 5%-10% of its fees every two to three years on new students or new programs to cover rising costs, driving an improving margin as utilization and operational efficiency continues to improve.",
    "output": "[Cause] utilization and operational efficiency continues to improve [Relation] cause [Effect] driving an improving margin",
    "gold": "[Cause] driving an improving margin as utilization [Relation] enable [Effect] operational efficiency continues to improve",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "TAL Education has been able to raise 5%-10% of its fees every two to three years on new students or new programs to cover rising costs, driving an improving margin as utilization and operational efficiency continues to improve.",
    "output": "[Cause] utilization and operational efficiency continues to improve [Relation] cause [Effect] driving an improving margin",
    "gold": "[Cause] TAL Education has been able to raise 5%-10% of its fees every two to three years on new students or new programs [Relation] enable [Effect] to cover rising costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, the company may need to share some its platform revenue with hardware partners like TCL to incentivize the usage of the Roku OS. As a result, we expect platform gross margin to bottom out in 2021 at 59% and rebound to 62% by 2030 but stay below the 70%-plus margins seen in 2016-2018.",
    "output": "[Cause] the company may need to share some its platform revenue with hardware partners like TCL to incentivize the usage of the Roku OS [Relation] cause [Effect] platform gross margin to bottom out in 2021 at 59% and rebound to 62% by 2030 but stay below the 70%-plus margins seen in 2016-2018",
    "gold": "[Cause]  the company may need to share some its platform revenue with hardware partners like TCL to incentivize the usage of the Roku OS [Relation] cause [Effect]  platform gross margin to bottom out in 2021 at 59% and rebound to 62% by 2030 but stay below the 70%-plus margins seen in 2016-2018",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The global retail industry has come under pressure as markets have restricted in-store operations to curb the spread of COVID-19.",
    "output": "[Cause] markets have restricted in-store operations to curb the spread of COVID-19 [Relation] cause [Effect] The global retail industry has come under pressure",
    "gold": "[Cause] markets have restricted in-store operations to curb the spread of COVID-19 [Relation] cause [Effect] The global retail industry has come under pressure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe BB&T's superior credit culture will stay intact after the merger, helping Truist institute similar internal policies and abilities.",
    "output": "[Cause] BB&T's superior credit culture will stay intact after the merger [Relation] enable [Effect] Truist institute similar internal policies and abilities",
    "gold": "[Cause] BB&T's superior credit culture will stay intact after the merger [Relation] enable [Effect]  Truist institute similar internal policies and abilities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This disruption has been embraced by consumers and has driven change across the entire industry as traditional retailers have invested heavily in technology in order to keep pace.",
    "output": "[Cause] traditional retailers have invested heavily in technology [Relation] cause [Effect] This disruption has been embraced by consumers and has driven change across the entire industry",
    "gold": "[Cause]  keep pace [Relation] cause [Effect] traditional retailers have invested heavily in technology",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This disruption has been embraced by consumers and has driven change across the entire industry as traditional retailers have invested heavily in technology in order to keep pace.",
    "output": "[Cause] traditional retailers have invested heavily in technology [Relation] cause [Effect] This disruption has been embraced by consumers and has driven change across the entire industry",
    "gold": "[Cause] traditional retailers have invested heavily in technology [Relation] cause [Effect] This disruption has been embraced by consumers and has driven change across the entire industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Canada has limited takeaway capacity and excess gas supply, which is why we've seen a downward trend in AECO prices.",
    "output": "[Cause] Canada has limited takeaway capacity and excess gas supply [Relation] cause [Effect] we've seen a downward trend in AECO prices",
    "gold": "[Cause] Canada has limited takeaway capacity and excess gas supply [Relation] cause [Effect] we've seen a downward trend in AECO prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Mainstream retail channels are likely to lose share to hard discounters in some developed markets, and some of that channel shift may not revert back to the supermarket channel in the upswing. Accordingly, we shave 20 basis points from our medium-term growth assumption, which at 3.4% is above the 2.9% organic growth achieved last year, but any return of global inflationary pressures should help drive stronger pricing in a normalized environment.",
    "output": "[Cause] Mainstream retail channels are likely to lose share to hard discounters in some developed markets, and some of that channel shift may not revert back to the supermarket channel in the upswing [Relation] cause [Effect] we shave 20 basis points from our medium-term growth assumption, which at 3.4% is above the 2.9% organic growth achieved last year, but any return of global inflationary pressures should help drive stronger pricing in a normalized environment",
    "gold": "[Cause] Mainstream retail channels are likely to lose share to hard discounters in some developed markets, and some of that channel shift may not revert back to the supermarket channel in the upswing [Relation] cause [Effect] we shave 20 basis points from our medium-term growth assumption, which at 3.4% is above the 2.9% organic growth achieved last year, but any return of global inflationary pressures should help drive stronger pricing in a normalized environment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the other businesses (Secureworks and Virtustream) to contribute revenue growth during the same time period due to cloud-based software adoption across IT and security teams.",
    "output": "[Cause] cloud-based software adoption across IT and security teams [Relation] cause [Effect] the other businesses (Secureworks and Virtustream) to contribute revenue growth during the same time period",
    "gold": "[Cause] cloud-based software adoption across IT and security teams [Relation] enable [Effect]  the other businesses (Secureworks and Virtustream) to contribute revenue growth during the same time period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Tyson's beef segment has been a bright spot in its portfolio in recent years, as strong international demand, coupled with a drought-induced beef shortage in Australia, has increased Tyson's beef segment operating margins to 8% over the past four years, from 2% prior to 2016.",
    "output": "[Cause] strong international demand, coupled with a drought-induced beef shortage in Australia [Relation] cause [Effect] Tyson's beef segment has been a bright spot in its portfolio in recent years",
    "gold": "[Cause] strong international demand, coupled with a drought-induced beef shortage in Australia [Relation] cause [Effect] Tyson's beef segment has been a bright spot in its portfolio in recent years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Tyson's beef segment has been a bright spot in its portfolio in recent years, as strong international demand, coupled with a drought-induced beef shortage in Australia, has increased Tyson's beef segment operating margins to 8% over the past four years, from 2% prior to 2016.",
    "output": "[Cause] strong international demand, coupled with a drought-induced beef shortage in Australia [Relation] cause [Effect] increased Tyson's beef segment operating margins to 8% over the past four years, from 2% prior to 2016",
    "gold": "[Cause] strong international demand, coupled with a drought-induced beef shortage in Australia [Relation] cause [Effect]  increased Tyson's beef segment operating margins to 8% over the past four years, from 2% prior to 2016",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Shoppers may prefer to shop at online stores where they know they can easily return purchases to a physical store rather than ship them back to the e-tailer.",
    "output": "[Cause] they know they can easily return purchases to a physical store rather than ship them back to the e-tailer [Relation] cause [Effect] Shoppers may prefer to shop at online stores",
    "gold": "[Cause]  they know they can easily return purchases to a physical store rather than ship them back to the e-tailer [Relation] cause [Effect] Shoppers may prefer to shop at online stores",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the exceptional retention the company has demonstrated thus far (approximately 145% dollar retention in fiscal 2019), we think there is evidence of switching costs, but again, we do not see Slack generating excess returns for the next four years.",
    "output": "[Cause] the exceptional retention the company has demonstrated thus far [Relation] cause [Effect] there is evidence of switching costs",
    "gold": "[Cause]  evidence of switching costs [Relation] cause [Effect] Slack generating excess returns for the next four years.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the exceptional retention the company has demonstrated thus far (approximately 145% dollar retention in fiscal 2019), we think there is evidence of switching costs, but again, we do not see Slack generating excess returns for the next four years.",
    "output": "[Cause] the exceptional retention the company has demonstrated thus far [Relation] cause [Effect] there is evidence of switching costs",
    "gold": "[Cause] evidence of switching costs [Relation] enable [Effect]  company has demonstrated thus far",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Due to spells of weak commodity prices the firm has written down the value of its oil and gas assets on several occasions, and if these impairments are added back to its invested capital the firm is unable to earn its cost of capital.",
    "output": "[Cause] spells of weak commodity prices [Relation] cause [Effect] the firm has written down the value of its oil and gas assets on several occasions",
    "gold": "[Cause]  spells of weak commodity prices [Relation] cause [Effect] the firm has written down the value of its oil and gas assets on several occasions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to spells of weak commodity prices the firm has written down the value of its oil and gas assets on several occasions, and if these impairments are added back to its invested capital the firm is unable to earn its cost of capital.",
    "output": "[Cause] these impairments are added back to its invested capital [Relation] cause [Effect] the firm is unable to earn its cost of capital",
    "gold": "[Cause] these impairments are added back to its invested capital [Relation] cause [Effect] the firm is unable to earn its cost of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, with over 40% of its sales resulting from its top five customers (just more than 20% from Walmart alone), Campbell is exposed to retailer consolidation.",
    "output": "[Cause] over 40% of its sales resulting from its top five customers (just more than 20% from Walmart alone) [Relation] cause [Effect] Campbell is exposed to retailer consolidation",
    "gold": "[Cause] over 40% of its sales resulting from its top five customers (just more than 20% from Walmart alone) [Relation] cause [Effect] Campbell is exposed to retailer consolidation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2021, we model a 10% revenue lift and around operating margin expansion to 17% (as robust BBW throughput continues to provide leverage).",
    "output": "[Cause] robust BBW throughput continues to provide leverage [Relation] cause [Effect] around operating margin expansion to 17%",
    "gold": "[Cause] robust BBW throughput continues to provide leverage [Relation] cause [Effect] a 10% revenue lift",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In 2021, we model a 10% revenue lift and around operating margin expansion to 17% (as robust BBW throughput continues to provide leverage).",
    "output": "[Cause] robust BBW throughput continues to provide leverage [Relation] cause [Effect] around operating margin expansion to 17%",
    "gold": "[Cause] robust BBW throughput continues to provide leverage [Relation] cause [Effect] around operating margin expansion to 17%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Strensiq for ultrarare hypophosphatasia, or HPP, and Kanuma for ultrarare lysosomal acid lipase deficiency, or LAL-D, launched in 2015-16 and, paired with Alexion's pipeline candidates in other rare indications, provide diversification for Alexion.",
    "output": "[Cause] Strensiq for ultrarare hypophosphatasia, or HPP, and Kanuma for ultrarare lysosomal acid lipase deficiency, or LAL-D, launched in 2015-16 and, paired with Alexion's pipeline candidates in other rare indications [Relation] enable [Effect] provide diversification for Alexion",
    "gold": "[Cause] Strensiq for ultrarare hypophosphatasia, or HPP, and Kanuma for ultrarare lysosomal acid lipase deficiency, or LAL-D, launched in 2015-16 and, paired with Alexion's pipeline candidates in other rare indications [Relation] cause [Effect] provide diversification for Alexion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe favorable demographics coupled with the realization of pent-up demand will drive strong housing demand over the next decade.",
    "output": "[Cause] favorable demographics coupled with the realization of pent-up demand [Relation] enable [Effect] strong housing demand over the next decade",
    "gold": "[Cause] favorable demographics coupled with the realization of pent-up demand [Relation] cause [Effect] strong housing demand over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From a business ethics and product governance perspective, failure to provide reliable and trustworthy services can impact both reputation and financial performance, so asset managers like Cohen & Steers tend to be more careful with how they manage the pricing, performance and positioning of their products.",
    "output": "[Cause] failure to provide reliable and trustworthy services [Relation] cause [Effect] impact both reputation and financial performance",
    "gold": "[Cause] failure to provide reliable and trustworthy services [Relation] enable [Effect] impact both reputation and financial performance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From a business ethics and product governance perspective, failure to provide reliable and trustworthy services can impact both reputation and financial performance, so asset managers like Cohen & Steers tend to be more careful with how they manage the pricing, performance and positioning of their products.",
    "output": "[Cause] failure to provide reliable and trustworthy services [Relation] cause [Effect] impact both reputation and financial performance",
    "gold": "[Cause] From a business ethics and product governance perspective, failure to provide reliable and trustworthy services can impact both reputation and financial performance [Relation] cause [Effect] asset managers like Cohen & Steers tend to be more careful with how they manage the pricing, performance and positioning of their products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We project adjusted operating margins expanding from roughly 7% in fiscal 2020 to around 9% by fiscal 2025, which reflects mix shift toward higher-margin consulting services, margin accretion and cost synergies from recent acquisitions, and benefits from management's SG&A cost reduction plan.",
    "output": "[Cause] mix shift toward higher-margin consulting services, margin accretion and cost synergies from recent acquisitions, and benefits from management's SG&A cost reduction plan [Relation] cause [Effect] adjusted operating margins expanding from roughly 7% in fiscal 2020 to around 9% by fiscal 2025",
    "gold": "[Cause] mix shift toward higher-margin consulting services, margin accretion and cost synergies from recent acquisitions, and benefits from management's SG&A cost reduction plan [Relation] cause [Effect] adjusted operating margins expanding from roughly 7% in fiscal 2020 to around 9% by fiscal 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We suspect Procter &amp; Gamble underinvested in brands like CoverGirl, leading to several years of shelf space losses and decreased distribution.",
    "output": "[Cause] Procter &amp; Gamble underinvested in brands like CoverGirl [Relation] cause [Effect] several years of shelf space losses and decreased distribution",
    "gold": "[Cause] Procter &amp; Gamble underinvested in brands like CoverGirl [Relation] cause [Effect] several years of shelf space losses and decreased distribution",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After 2020's 21% drop in organic sales, we think the increasing availability of coronavirus vaccines in 2021 will spur a recovery in away-from-home dining, resulting in 18% and 9% bumps in organic sales in 2021 and 2022, respectively.",
    "output": "[Cause] the increasing availability of coronavirus vaccines in 2021 [Relation] cause [Effect] spur a recovery in away-from-home dining",
    "gold": "[Cause] 2020's 21% drop in organic sales [Relation] enable [Effect] we think the increasing availability of coronavirus vaccines in 2021 will spur a recovery in away-from-home dining",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Specifically, states are trying to reduce the cost and risk associated with serving Medicaid enrollees, so they try to outsource those plans to managed-care organizations that take on some risk in this particular population and, of course, save them money.",
    "output": "[Cause] states are trying to reduce the cost and risk associated with serving Medicaid enrollees [Relation] cause [Effect] they try to outsource those plans to managed-care organizations that take on some risk in this particular population and, of course, save them money",
    "gold": "[Cause] outsource those plans to managed-care organizations that take on some risk in this particular population and [Relation] enable [Effect] reduce the cost and risk associated with serving Medicaid enrollees | save them money",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If the prices of grain or hogs increases substantially, Hormel's margins may suffer if the company cannot pass the higher costs through to customers.",
    "output": "[Cause] the prices of grain or hogs increases substantially [Relation] cause [Effect] Hormel's margins may suffer",
    "gold": "[Cause] the prices of grain or hogs increases substantially [Relation] cause [Effect] Hormel's margins may suffer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the prices of grain or hogs increases substantially, Hormel's margins may suffer if the company cannot pass the higher costs through to customers.",
    "output": "[Cause] the company cannot pass the higher costs through to customers [Relation] cause [Effect] Hormel's margins may suffer",
    "gold": "[Cause] the company cannot pass the higher costs through to customers [Relation] cause [Effect] Hormel's margins may suffer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe one of the more salient is the secular decline in CSDs due to heightened social awareness around the potential health impacts.",
    "output": "[Cause] heightened social awareness around the potential health impacts [Relation] cause [Effect] one of the more salient is the secular decline in CSDs",
    "gold": "[Cause] heightened social awareness around the potential health impacts [Relation] cause [Effect] one of the more salient is the secular decline in CSDs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe further moves to increase efficiency, both through digital initiatives and further consolidation abroad, should translate to improved efficiency ratios.",
    "output": "[Cause] further moves to increase efficiency [Relation] cause [Effect] translate to improved efficiency ratios",
    "gold": "[Cause]  further moves to increase efficiency [Relation] enable [Effect] translate to improved efficiency ratios",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe further moves to increase efficiency, both through digital initiatives and further consolidation abroad, should translate to improved efficiency ratios.",
    "output": "[Cause] further moves to increase efficiency [Relation] enable [Effect] translate to improved efficiency ratios",
    "gold": "[Cause]  digital initiatives and further consolidation abroad [Relation] enable [Effect]  further moves to increase efficiency",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The continued preference for craft beer over mainstream beer should lead to positive North American volume, despite our expectation that aluminum packaging will gain share in craft beer over the coming five years.",
    "output": "[Cause] The continued preference for craft beer over mainstream beer [Relation] cause [Effect] positive North American volume",
    "gold": "[Cause] The continued preference for craft beer over mainstream beer [Relation] cause [Effect]  positive North American volume",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that CrowdStrike's customer base, revenue, and margins will experience profound growth throughout the 2020s as customers update their endpoint and workload security requirements in a hybrid-cloud world.",
    "output": "[Cause] customers update their endpoint and workload security requirements in a hybrid-cloud world [Relation] cause [Effect] CrowdStrike's customer base, revenue, and margins will experience profound growth throughout the 2020s",
    "gold": "[Cause]  customers update their endpoint and workload security requirements in a hybrid-cloud world [Relation] enable [Effect] CrowdStrike's customer base, revenue, and margins will experience profound growth throughout the 2020s",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2015, foreign competitors used the exchange-rate differential as an opportunity to discount their bikes domestically, hurting Harley's market share--and this could happen again with higher foreign exchange volatility.",
    "output": "[Cause] foreign competitors used the exchange-rate differential as an opportunity to discount their bikes domestically [Relation] cause [Effect] hurting Harley's market share",
    "gold": "[Cause]  foreign competitors used the exchange-rate differential as an opportunity to discount their bikes domestically [Relation] cause [Effect] hurting Harley's market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The change in strategy allowed retailers to advertise discounts of as much as 25% on Nike shoes and apparel in 2017, cutting into Under Armour sales.",
    "output": "[Cause] The change in strategy [Relation] enable [Effect] retailers to advertise discounts of as much as 25% on Nike shoes and apparel in 2017",
    "gold": "[Cause] The change in strategy allowed retailers to advertise discounts of as much as 25% on Nike shoes and apparel in 2017 [Relation] enable [Effect] cutting into Under Armour sales",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Therefore, we estimate that overall strengthening of the yen is relatively neutral to Sony's profits, as impacts from the two major trading currencies usually offset each other.",
    "output": "[Cause] impacts from the two major trading currencies usually offset each other [Relation] cause [Effect] overall strengthening of the yen is relatively neutral to Sony's profits",
    "gold": "[Cause] impacts from the two major trading currencies usually offset each other [Relation] cause [Effect]  overall strengthening of the yen is relatively neutral to Sony's profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With previous structural changes like the closure of the Orchard Supply brand and the sale of its Mexico assets, increased capital expenditures (estimated at $2 billion in 2021) are likely to focus on efforts that should lead to working capital efficiency gains ahead.",
    "output": "[Cause] previous structural changes like the closure of the Orchard Supply brand and the sale of its Mexico assets [Relation] cause [Effect] increased capital expenditures (estimated at $2 billion in 2021) are likely to focus on efforts that should lead to working capital efficiency gains ahead",
    "gold": "[Cause] previous structural changes like the closure of the Orchard Supply brand and the sale of its Mexico assets [Relation] enable [Effect] increased capital expenditures (estimated at $2 billion in 2021) are likely to focus on efforts that should lead to working capital efficiency gains ahead",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Campbell's efforts to steady its footing have been facilitated by the sales of its fresh and international operations, which should enable it to focus its resources and personnel on its core businesses.",
    "output": "[Cause] the sales of its fresh and international operations [Relation] enable [Effect] Campbell's efforts to steady its footing have been facilitated",
    "gold": "[Cause] Campbell's efforts to steady its footing have been facilitated [Relation] enable [Effect]  it to focus its resources and personnel on its core businesses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Campbell's efforts to steady its footing have been facilitated by the sales of its fresh and international operations, which should enable it to focus its resources and personnel on its core businesses.",
    "output": "[Cause] Campbell's efforts to steady its footing have been facilitated by the sales of its fresh and international operations [Relation] enable [Effect] it to focus its resources and personnel on its core businesses",
    "gold": "[Cause]  the sales of its fresh and international operations [Relation] cause [Effect] Campbell's efforts to steady its footing have been facilitated",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With its dependence on West African countries for its cocoa supply (areas known to utilize child labor), Hershey is also exposed to human rights issues within its supply chain, which could lead to reputational risk and ultimately heightened government oversight.",
    "output": "[Cause] Hershey is also exposed to human rights issues within its supply chain [Relation] cause [Effect] reputational risk and ultimately heightened government oversight",
    "gold": "[Cause] Hershey is also exposed to human rights issues within its supply chain [Relation] cause [Effect] reputational risk and ultimately heightened government oversight",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sustainalytics gives Fanuc an ESG risk score of 30.5, which is higher than our other Japanese industrials coverage companies, averaging in the mid-twenties. This is attributed to mainly disclosure issues regarding management of its ESG risks as well as company-specific factors like the lawsuit leading to increasing governance risk for the company.",
    "output": "[Cause] mainly disclosure issues regarding management of its ESG risks as well as company-specific factors like the lawsuit leading to increasing governance risk for the company [Relation] cause [Effect] Sustainalytics gives Fanuc an ESG risk score of 30.5, which is higher than our other Japanese industrials coverage companies, averaging in the mid-twenties",
    "gold": "[Cause] mainly disclosure issues regarding management of its ESG risks as well as company-specific factors like the lawsuit leading to increasing governance risk for the company [Relation] cause [Effect] Sustainalytics gives Fanuc an ESG risk score of 30.5, which is higher than our other Japanese industrials coverage companies, averaging in the mid-twenties",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Capital One has substantial exposure to subprime consumer loans though its credit card and auto lending businesses, exposing it to potential credit losses should consumer credit conditions deteriorate.",
    "output": "[Cause] Capital One has substantial exposure to subprime consumer loans though its credit card and auto lending businesses [Relation] cause [Effect] potential credit losses should consumer credit conditions deteriorate",
    "gold": "[Cause] potential credit losses [Relation] cause [Effect]  consumer credit conditions deteriorate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Robinson's value proposition strengthens in such an environment, gross margins usually get squeezed in the short run as carrier rates spike.",
    "output": "[Cause] carrier rates spike [Relation] cause [Effect] gross margins usually get squeezed in the short run",
    "gold": "[Cause] carrier rates spike [Relation] cause [Effect] gross margins usually get squeezed in the short run",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that aeronautics and missiles and fire control are the big growth drivers, due to peaking F-35 deliveries, growing F-35 sustainment revenues, and hypersonic missile development.",
    "output": "[Cause] peaking F-35 deliveries, growing F-35 sustainment revenues, and hypersonic missile development [Relation] cause [Effect] aeronautics and missiles and fire control are the big growth drivers",
    "gold": "[Cause] peaking F-35 deliveries, growing F-35 sustainment revenues, and hypersonic missile development [Relation] cause [Effect] aeronautics and missiles and fire control are the big growth drivers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, contracting still takes place overwhelmingly on paper-based forms, so even basic sales contracts from any vertical could potentially be modernized.",
    "output": "[Cause] contracting still takes place overwhelmingly on paper-based forms [Relation] cause [Effect] basic sales contracts from any vertical could potentially be modernized",
    "gold": "[Cause] contracting still takes place overwhelmingly on paper-based forms [Relation] cause [Effect] basic sales contracts from any vertical could potentially be modernized",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ConocoPhillips' reported GHG intensity of 34 kg CO2e/boe (2020) is relatively high for its peer group due to its oil sands operations.",
    "output": "[Cause] its oil sands operations [Relation] cause [Effect] ConocoPhillips' reported GHG intensity of 34 kg CO2e/boe (2020) is relatively high for its peer group",
    "gold": "[Cause]  its oil sands operations [Relation] cause [Effect] ConocoPhillips' reported GHG intensity of 34 kg CO2e/boe (2020) is relatively high for its peer group",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lennar's building efficiency strategy is not arcane, as other homebuilders, such as PulteGroup, have implemented similar strategies with beneficial results.",
    "output": "[Cause] other homebuilders, such as PulteGroup, have implemented similar strategies with beneficial results [Relation] cause [Effect] Lennar's building efficiency strategy is not arcane",
    "gold": "[Cause] other homebuilders, such as PulteGroup, have implemented similar strategies with beneficial results [Relation] cause [Effect] Lennar's building efficiency strategy is not arcane",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Around 70% of annual average spending of $9.3 billion for 2021-25 in the exploration and production segment will be directed to pre salt production resulting in pre salt share of production rising to 80% by 2025 from 67% in 2020.",
    "output": "[Cause] Around 70% of annual average spending of $9.3 billion for 2021-25 in the exploration and production segment will be directed to pre salt production [Relation] cause [Effect] pre salt share of production rising to 80% by 2025 from 67% in 2020",
    "gold": "[Cause] Around 70% of annual average spending of $9.3 billion for 2021-25 in the exploration and production segment will be directed to pre salt production [Relation] cause [Effect] pre salt share of production rising to 80% by 2025 from 67% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Telehealth is likely one of the most developed subsegments in the virtual market as it is a natural extension of the reliable communication infrastructure available, rising and notable social media engagement across all age groups, and the overall migration toward outpatient care.",
    "output": "[Cause] it is a natural extension of the reliable communication infrastructure available, rising and notable social media engagement across all age groups, and the overall migration toward outpatient care [Relation] cause [Effect] Telehealth is likely one of the most developed subsegments in the virtual market",
    "gold": "[Cause]  it is a natural extension of the reliable communication infrastructure available, rising and notable social media engagement across all age groups, and the overall migration toward outpatient care [Relation] cause [Effect] Telehealth is likely one of the most developed subsegments in the virtual market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we opine switching costs can exist in this customer vertical, Juniper's shrinking revenue from service providers induce the conclusion that the company's products may be displaced due to product innovation not keeping pace with competitors.",
    "output": "[Cause] Juniper's shrinking revenue from service providers [Relation] cause [Effect] the conclusion that the company's products may be displaced",
    "gold": "[Cause] product innovation not keeping pace with competitors [Relation] cause [Effect] company's products may be displaced",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although we opine switching costs can exist in this customer vertical, Juniper's shrinking revenue from service providers induce the conclusion that the company's products may be displaced due to product innovation not keeping pace with competitors.",
    "output": "[Cause] Juniper's shrinking revenue from service providers [Relation] cause [Effect] the company's products may be displaced",
    "gold": "[Cause] Juniper's shrinking revenue from service providers [Relation] cause [Effect] company's products may be displaced due to product innovation not keeping pace with competitors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "An additional challenge for LifeLock to drive sustainable recurring profits is that we believe consumers would swap to another provider in this very price-competitive market, favor complimentary services, or cancel memberships if fraudulent actions are not detected on the individual.",
    "output": "[Cause] fraudulent actions are not detected on the individual [Relation] cause [Effect] consumers would swap to another provider in this very price-competitive market, favor complimentary services, or cancel memberships",
    "gold": "[Cause] An additional challenge for LifeLock to drive sustainable recurring profits [Relation] enable [Effect] we believe consumers would swap to another provider in this very price-competitive market, favor complimentary services, or cancel memberships if fraudulent actions are not detected on the individual.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While its size affords McDonald's scale advantages, questions about the agility of its supply chain have occasionally surfaced as it has expanded.",
    "output": "[Cause] it has expanded [Relation] cause [Effect] questions about the agility of its supply chain have occasionally surfaced",
    "gold": "[Cause] it has expanded [Relation] cause [Effect] questions about the agility of its supply chain have occasionally surfaced",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With discretionary services set to bounce back as the pandemic recedes, Aon could see unusually strong growth in the near term.",
    "output": "[Cause] the pandemic recedes [Relation] cause [Effect] discretionary services set to bounce back",
    "gold": "[Cause] With discretionary services set to bounce back as the pandemic recedes [Relation] cause [Effect] Aon could see unusually strong growth in the near term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our margin forecast for Summit is milder than what we forecast for Martin Marietta and Vulcan, as Summit's greater exposure to downstream activities weighs on its ability to realize larger margin gains.",
    "output": "[Cause] Summit's greater exposure to downstream activities weighs on its ability to realize larger margin gains [Relation] cause [Effect] Our margin forecast for Summit is milder than what we forecast for Martin Marietta and Vulcan",
    "gold": "[Cause] Summit's greater exposure to downstream activities weighs on its ability to realize larger margin gains [Relation] cause [Effect] Our margin forecast for Summit is milder than what we forecast for Martin Marietta and Vulcan",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the importance of customer retention, businesses are likely to adopt best-of-breed solutions that support the smoothest customer support experience possible.",
    "output": "[Cause] the importance of customer retention [Relation] cause [Effect] businesses are likely to adopt best-of-breed solutions",
    "gold": "[Cause] businesses are likely to adopt best-of-breed solutions [Relation] enable [Effect] smoothest customer support experience possible",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the importance of customer retention, businesses are likely to adopt best-of-breed solutions that support the smoothest customer support experience possible.",
    "output": "[Cause] businesses are likely to adopt best-of-breed solutions [Relation] enable [Effect] smoothest customer support experience possible",
    "gold": "[Cause]  the importance of customer retention [Relation] cause [Effect] businesses are likely to adopt best-of-breed solutions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think as BlackBerry becomes more seasoned as a software company, its gross margins will approach the high 70% range.",
    "output": "[Cause] BlackBerry becomes more seasoned as a software company [Relation] cause [Effect] its gross margins will approach the high 70% range",
    "gold": "[Cause] BlackBerry becomes more seasoned as a software company [Relation] cause [Effect] its gross margins will approach the high 70% range",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, with the consolidated franchisee base, most fortressing occurs with franchisees building inside of their own territories, so cannibalization does not pit franchisees against each other (avoiding what occurred with McDonald's in the late 1990s).",
    "output": "[Cause] the consolidated franchisee base [Relation] cause [Effect] most fortressing occurs with franchisees building inside of their own territories",
    "gold": "[Cause] cannibalization [Relation] prevent [Effect] pit franchisees against each other",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, with the consolidated franchisee base, most fortressing occurs with franchisees building inside of their own territories, so cannibalization does not pit franchisees against each other (avoiding what occurred with McDonald's in the late 1990s).",
    "output": "[Cause] cannibalization [Relation] prevent [Effect] pit franchisees against each other",
    "gold": "[Cause] the consolidated franchisee base, most fortressing occurs with franchisees building inside of their own territories [Relation] cause [Effect] cannibalization does not pit franchisees against each other",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With approximately 80% of the company's revenue coming from its wealth and asset management businesses, any downturn in asset prices will have a material effect on revenue and earnings.",
    "output": "[Cause] approximately 80% of the company's revenue coming from its wealth and asset management businesses [Relation] cause [Effect] any downturn in asset prices will have a material effect on revenue and earnings",
    "gold": "[Cause] approximately 80% of the company's revenue coming from its wealth and asset management businesses [Relation] cause [Effect] any downturn in asset prices will have a material effect on revenue and earnings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There are semblances of this intangible asset in Primo's water-direct operations, as management has disclosed impressive renewal rates for the business.",
    "output": "[Cause] management has disclosed impressive renewal rates for the business [Relation] cause [Effect] There are semblances of this intangible asset in Primo's water-direct operations",
    "gold": "[Cause] management has disclosed impressive renewal rates for the business [Relation] cause [Effect] There are semblances of this intangible asset in Primo's water-direct operations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, Tapestry's second quarter of fiscal 2021 was better than expected as strong sales of Coach in mainland China led to more than 30% growth in the region and e-commerce (up more than 100%) partially offset store closures.",
    "output": "[Cause] strong sales of Coach in mainland China [Relation] cause [Effect] more than 30% growth in the region",
    "gold": "[Cause] more than 30% growth in the region and e-commerce [Relation] enable [Effect] partially offset store closures",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With its growth lagging security peers, we expect Check Point to ramp up sales and marketing efforts to showcase the advantage of its platform approach and next-generation security offerings.",
    "output": "[Cause] its growth lagging security peers [Relation] cause [Effect] Check Point to ramp up sales and marketing efforts to showcase the advantage of its platform approach and next-generation security offerings",
    "gold": "[Cause] its growth lagging security peers [Relation] cause [Effect] Check Point to ramp up sales and marketing efforts to showcase the advantage of its platform approach and next-generation security offerings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As those contracts age and the packaging loses novelty, we expect that profitability on those products will converge to that of the broader product portfolio.",
    "output": "[Cause] those contracts age and the packaging loses novelty [Relation] cause [Effect] profitability on those products will converge to that of the broader product portfolio",
    "gold": "[Cause] those contracts age and the packaging loses novelty [Relation] cause [Effect] profitability on those products will converge to that of the broader product portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We argue that the firm's sheer size and vast financial resources allow it to leverage fixed costs over a large base of products and defend its share position by aggressively spending on R&D and marketing when needed to fend off competition.",
    "output": "[Cause] the firm's sheer size and vast financial resources [Relation] enable [Effect] leverage fixed costs over a large base of products and defend its share position by aggressively spending on R&D and marketing when needed to fend off competition",
    "gold": "[Cause] the firm's sheer size and vast financial resources [Relation] enable [Effect]  leverage fixed costs over a large base of products and defend its share position by aggressively spending on R&D and marketing when needed to fend off competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, FireEye's appliance-related sales will continue to decrease as consumers favor cloud subscriptions for a variety of threat protection technologies.",
    "output": "[Cause] consumers favor cloud subscriptions for a variety of threat protection technologies [Relation] cause [Effect] FireEye's appliance-related sales will continue to decrease",
    "gold": "[Cause] consumers favor cloud subscriptions for a variety of threat protection technologies [Relation] cause [Effect] FireEye's appliance-related sales will continue to decrease",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite higher costs to manufacture personalized medicine, we expect personalized cancer vaccines to be high-margin products as the business scales.",
    "output": "[Cause] the business scales [Relation] cause [Effect] personalized cancer vaccines to be high-margin products",
    "gold": "[Cause] the business scales [Relation] enable [Effect] personalized cancer vaccines to be high-margin products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With existing-home prices still rising and interest rates still low, we don't see imminent concern about a significant slowdown in the housing market; however, interest rates that start to move higher, uncertainty around the direction of the economic environment, and the lack of lower-priced inventory can weigh on turnover.",
    "output": "[Cause] interest rates that start to move higher, uncertainty around the direction of the economic environment, and the lack of lower-priced inventory [Relation] prevent [Effect] weigh on turnover",
    "gold": "[Cause] interest rates that start to move higher, uncertainty around the direction of the economic environment, and the lack of lower-priced inventory [Relation] prevent [Effect]  weigh on turnover",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The impact of COVID-19 on our forecast is altogether a modest positive, as the company stands to benefit from being one of the few manufacturers of a rapid screening kit, which it will commence shipping in the current quarter, and vaccine-related syringe demand.",
    "output": "[Cause] the company stands to benefit from being one of the few manufacturers of a rapid screening kit, which it will commence shipping in the current quarter, and vaccine-related syringe demand [Relation] cause [Effect] The impact of COVID-19 on our forecast is altogether a modest positive",
    "gold": "[Cause] the company stands to benefit from being one of the few manufacturers of a rapid screening kit, which it will commence shipping in the current quarter, and vaccine-related syringe demand [Relation] cause [Effect] The impact of COVID-19 on our forecast is altogether a modest positive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite the cost benefits of remote telehealth, regulators and states have been slow to ease regulation/compliance and reimburse these services due to concerns of fraud/privacy breach and quality.",
    "output": "[Cause] concerns of fraud/privacy breach and quality [Relation] cause [Effect] regulators and states have been slow to ease regulation/compliance and reimburse these services",
    "gold": "[Cause]  concerns of fraud/privacy breach and quality [Relation] cause [Effect] regulators and states have been slow to ease regulation/compliance and reimburse these services",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we continue to expect higher costs will ensue as it ramps up production and works to expeditiously deliver product to its retail partners, while also spending more to ensure the safety of its labor force.",
    "output": "[Cause] it ramps up production and works to expeditiously deliver product to its retail partners, while also spending more to ensure the safety of its labor force [Relation] cause [Effect] higher costs will ensue",
    "gold": "[Cause] it ramps up production and works to expeditiously deliver product to its retail partners, while also spending more to ensure the safety of its labor force [Relation] cause [Effect] higher costs will ensue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Full integration of the AdvisoryWorld tools should allow LPL to offer technology to advisors that compares well to peer alternatives.",
    "output": "[Cause] Full integration of the AdvisoryWorld tools [Relation] enable [Effect] LPL to offer technology to advisors that compares well to peer alternatives",
    "gold": "[Cause] Full integration of the AdvisoryWorld tools [Relation] enable [Effect] LPL to offer technology to advisors that compares well to peer alternatives",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While this business has more attractive growth prospects (2% to 4%), agricultural commodities are difficult to differentiate and therefore generally do not command a price premium. As a result, this business is relatively low margin (10%) and does not offer the firm a competitive advantage, in our opinion.",
    "output": "[Cause] While this business has more attractive growth prospects (2% to 4%), agricultural commodities are difficult to differentiate and therefore generally do not command a price premium [Relation] cause [Effect] this business is relatively low margin (10%) and does not offer the firm a competitive advantage, in our opinion",
    "gold": "[Cause] While this business has more attractive growth prospects (2% to 4%), agricultural commodities are difficult to differentiate and therefore generally do not command a price premium [Relation] cause [Effect] this business is relatively low margin (10%) and does not offer the firm a competitive advantage, in our opinion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "BorgWarner's consistent technology innovation and ability to find alternative vehicular applications enable more favorable pricing relative to many automotive industry suppliers, increasing the company's dollar content per vehicle.",
    "output": "[Cause] BorgWarner's consistent technology innovation and ability to find alternative vehicular applications [Relation] enable [Effect] more favorable pricing relative to many automotive industry suppliers",
    "gold": "[Cause] more favorable pricing relative to many automotive industry suppliers [Relation] cause [Effect] increasing the company's dollar content per vehicle",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "BorgWarner's consistent technology innovation and ability to find alternative vehicular applications enable more favorable pricing relative to many automotive industry suppliers, increasing the company's dollar content per vehicle.",
    "output": "[Cause] more favorable pricing relative to many automotive industry suppliers [Relation] enable [Effect] increasing the company's dollar content per vehicle",
    "gold": "[Cause] BorgWarner's consistent technology innovation and ability to find alternative vehicular applications [Relation] enable [Effect] more favorable pricing relative to many automotive industry suppliers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because many of the company's products (including pumps, filters, and control valves) perform mission-critical functions, any product failures could lead to costly outages for customers.",
    "output": "[Cause] many of the company's products (including pumps, filters, and control valves) perform mission-critical functions [Relation] cause [Effect] any product failures could lead to costly outages for customers",
    "gold": "[Cause] any product failures [Relation] cause [Effect] costly outages for customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Coronavirus-related restaurant closures and changes in consumer behavior are likely to have a lasting impact on the industry and drive volatility in near-term operating results.",
    "output": "[Cause] Coronavirus-related restaurant closures and changes in consumer behavior [Relation] cause [Effect] volatility in near-term operating results",
    "gold": "[Cause] Coronavirus [Relation] cause [Effect] restaurant closures and changes in consumer behavior",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "NetEase has strong research and development capability, with its self-developed mobile and PC games accounting for 91% of 2020's revenue.",
    "output": "[Cause] its self-developed mobile and PC games accounting for 91% of 2020's revenue [Relation] enable [Effect] NetEase has strong research and development capability",
    "gold": "[Cause] strong research and development capability, with its self-developed mobile and PC games [Relation] enable [Effect] accounting for 91% of 2020's revenue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our forecast costs are notably higher than before 2020, driven by COVID-19 mitigation, water conservation measures at La India, and general cost inflation.",
    "output": "[Cause] COVID-19 mitigation, water conservation measures at La India, and general cost inflation [Relation] cause [Effect] Our forecast costs are notably higher than before 2020",
    "gold": "[Cause] COVID-19 mitigation, water conservation measures at La India, and general cost inflation [Relation] cause [Effect] Our forecast costs are notably higher than before 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While demand for outdoor recreational products has been elevated with social distancing measures as a result of the pandemic, we expect sustained sales growth stemming from market share gains and expansion into whitespace categories. As a result of its success, Malibu should generate competitive adjusted returns on invested capital, including goodwill, that average 27% over the next decade.",
    "output": "[Cause] While demand for outdoor recreational products has been elevated with social distancing measures as a result of the pandemic, we expect sustained sales growth stemming from market share gains and expansion into whitespace categories [Relation] cause [Effect] Malibu should generate competitive adjusted returns on invested capital, including goodwill, that average 27% over the next decade",
    "gold": "[Cause] While demand for outdoor recreational products has been elevated with social distancing measures as a result of the pandemic, we expect sustained sales growth stemming from market share gains and expansion into whitespace categories [Relation] cause [Effect]  Malibu should generate competitive adjusted returns on invested capital, including goodwill, that average 27% over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate strong growth in Veeva Vault revenue to be driven by as the introduction of new co-developed modules and new use cases outside of life sciences.",
    "output": "[Cause] the introduction of new co-developed modules and new use cases outside of life sciences [Relation] cause [Effect] strong growth in Veeva Vault revenue",
    "gold": "[Cause] the introduction of new co-developed modules and new use cases outside of life sciences [Relation] enable [Effect] strong growth in Veeva Vault revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The recent stumbles of RB and fellow-3G business Kraft Heinz highlight the unsustainability of growing EBIT through cost saving strategies.",
    "output": "[Cause] cost saving strategies [Relation] cause [Effect] the unsustainability of growing EBIT",
    "gold": "[Cause]  cost saving strategies [Relation] cause [Effect] the unsustainability of growing EBIT",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This migration is likely to cause community hospitals to fold or be acquired, which will put pressure on Allscripts' revenue.",
    "output": "[Cause] This migration [Relation] cause [Effect] community hospitals to fold or be acquired",
    "gold": "[Cause] This migration is likely to cause community hospitals to fold or be acquired [Relation] cause [Effect] put pressure on Allscripts' revenue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This migration is likely to cause community hospitals to fold or be acquired, which will put pressure on Allscripts' revenue.",
    "output": "[Cause] community hospitals to fold or be acquired [Relation] cause [Effect] put pressure on Allscripts' revenue",
    "gold": "[Cause] This migration [Relation] cause [Effect] community hospitals to fold or be acquired",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We see several idiosyncratic factors that will help Carrier achieve it goal of mid-single-digit sales growth, including higher service attachment rates, applied HVAC market share gains, increased demand for air-filtration, cold chain, and touchless access control solutions, and new product introductions with higher average selling prices.",
    "output": "[Cause] several idiosyncratic factors [Relation] enable [Effect] help Carrier achieve it goal of mid-single-digit sales growth",
    "gold": "[Cause] several idiosyncratic factors [Relation] cause [Effect] help Carrier achieve it goal of mid-single-digit sales growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The full-price Nordstrom stores (two thirds of sales) maintain premium pricing over other mall-based department stores through differentiated product and a reputation for excellent customer service.",
    "output": "[Cause] differentiated product and a reputation for excellent customer service [Relation] enable [Effect] The full-price Nordstrom stores (two thirds of sales) maintain premium pricing over other mall-based department stores",
    "gold": "[Cause] differentiated product and a reputation for excellent customer service [Relation] enable [Effect] The full-price Nordstrom stores (two thirds of sales) maintain premium pricing over other mall-based department stores",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For instance, the Washington, D.C., portfolio has struggled in recent years due to exposure to sectors that have experienced less moribund growth than the buoyant technology sector.",
    "output": "[Cause] exposure to sectors that have experienced less moribund growth than the buoyant technology sector [Relation] cause [Effect] the Washington, D.C., portfolio has struggled in recent years",
    "gold": "[Cause] exposure to sectors that have experienced less moribund growth than the buoyant technology sector [Relation] cause [Effect] the Washington, D.C., portfolio has struggled in recent years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, commodity prices are now well below the levels at the time of the formation due in large part to the economic impact of COVID-19.",
    "output": "[Cause] the economic impact of COVID-19 [Relation] cause [Effect] commodity prices are now well below the levels at the time of the formation",
    "gold": "[Cause] the economic impact of COVID-19 [Relation] cause [Effect] commodity prices are now well below the levels at the time of the formation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Each rung on the value ladder is a higher margin service, and a shift to full-service can increase margin up to the 70% range, compared with component-only margin of 20%. Therefore, West is highly incentivized to expand the breadth and depth of its service offerings and to bring customers up the value chain.",
    "output": "[Cause] Each rung on the value ladder is a higher margin service, and a shift to full-service can increase margin up to the 70% range, compared with component-only margin of 20% [Relation] cause [Effect] West is highly incentivized to expand the breadth and depth of its service offerings and to bring customers up the value chain",
    "gold": "[Cause] Each rung on the value ladder is a higher margin service, and a shift to full-service can increase margin up to the 70% range, compared with component-only margin of 20% [Relation] cause [Effect] West is highly incentivized to expand the breadth and depth of its service offerings and to bring customers up the value chain",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect GAAP operating margins to increase from negative 92% in fiscal 2021 to 25% in fiscal 2031, as a result of gross margin expansion as we see operating leverage from drastic scale.",
    "output": "[Cause] gross margin expansion [Relation] cause [Effect] GAAP operating margins to increase from negative 92% in fiscal 2021 to 25% in fiscal 2031",
    "gold": "[Cause]  gross margin expansion [Relation] cause [Effect]  GAAP operating margins to increase from negative 92% in fiscal 2021 to 25% in fiscal 2031",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect GAAP operating margins to increase from negative 92% in fiscal 2021 to 25% in fiscal 2031, as a result of gross margin expansion as we see operating leverage from drastic scale.",
    "output": "[Cause] gross margin expansion [Relation] cause [Effect] GAAP operating margins to increase from negative 92% in fiscal 2021 to 25% in fiscal 2031",
    "gold": "[Cause]  operating leverage from drastic scale [Relation] cause [Effect]  gross margin expansion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This assumes Centene's Medicaid business remains relatively flat during the next five years, as the economy recovers (a likely negative for Medicaid enrollment) and as we probability-weight some of Centene's existing Medicaid contracts that are coming up for bid.",
    "output": "[Cause] the economy recovers (a likely negative for Medicaid enrollment) and as we probability-weight some of Centene's existing Medicaid contracts that are coming up for bid [Relation] cause [Effect] Centene's Medicaid business remains relatively flat during the next five years",
    "gold": "[Cause]  Centene's existing Medicaid contracts that are coming up for bid. | the economy recovers [Relation] cause [Effect] Centene's Medicaid business remains relatively flat during the next five years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Off-highway applications are likely to require significantly higher densities given their likely inability to access grid power at convenient intervals.",
    "output": "[Cause] their likely inability to access grid power at convenient intervals [Relation] cause [Effect] Off-highway applications are likely to require significantly higher densities",
    "gold": "[Cause] their likely inability to access grid power at convenient intervals [Relation] cause [Effect] Off-highway applications are likely to require significantly higher densities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm faces stiff competition from inside and outside the solar industry as the renewable energy landscape becomes more competitive.",
    "output": "[Cause] the renewable energy landscape becomes more competitive [Relation] cause [Effect] The firm faces stiff competition from inside and outside the solar industry",
    "gold": "[Cause] the renewable energy landscape becomes more competitive [Relation] cause [Effect] The firm faces stiff competition from inside and outside the solar industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, scaled participants are better able to make expenditures to improve the in-store customer experience than their smaller rivals as they can leverage such initiatives over a large store base; these efforts help to engender brand loyalty.",
    "output": "[Cause] scaled participants are better able to make expenditures to improve the in-store customer experience than their smaller rivals as they can leverage such initiatives over a large store base [Relation] enable [Effect] engender brand loyalty",
    "gold": "[Cause] they can leverage such initiatives over a large store base; these efforts help to engender brand loyalty [Relation] cause [Effect] scaled participants are better able to make expenditures to improve the in-store customer experience",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We remain comfortable with our full-year comp outlook of a high-single-digit decline at KFC and a low-teens decline at Pizza Hut, as continued traction with delivery and value offerings should drive further improvement in the fourth quarter (though positive comps are unlikely to return until 2021).",
    "output": "[Cause] continued traction with delivery and value offerings should drive further improvement in the fourth quarter [Relation] cause [Effect] comfortable with our full-year comp outlook of a high-single-digit decline at KFC and a low-teens decline at Pizza Hut",
    "gold": "[Cause] continued traction with delivery and value offerings should drive further improvement in the fourth quarter [Relation] cause [Effect] comfortable with our full-year comp outlook of a high-single-digit decline at KFC and a low-teens decline at Pizza Hut",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, the charge applied by Farfetch may be offset by increasing probability of full-price sell-through, as the existing stock is made available to this wider audience.",
    "output": "[Cause] the existing stock is made available to this wider audience [Relation] cause [Effect] the charge applied by Farfetch may be offset by increasing probability of full-price sell-through",
    "gold": "[Cause] the existing stock is made available to this wider audience [Relation] cause [Effect] the charge applied by Farfetch may be offset by increasing probability of full-price sell-through",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "NXP is also a bit behind in the development of GaN-based 5G power amplifiers, so the firm could lose market share if GaN takes off as the predominant technology and the company's rivals remain on the GaN forefront.",
    "output": "[Cause] GaN takes off as the predominant technology and the company's rivals remain on the GaN forefront [Relation] cause [Effect] the firm could lose market share",
    "gold": "[Cause] GaN takes off as the predominant technology and the company's rivals remain on the GaN forefront [Relation] cause [Effect]  the firm could lose market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we suspect that the quality in these design functions is merging between Catia and its top competitors, we think that switching costs are strengthened by the learning curve of the software.",
    "output": "[Cause] the learning curve of the software [Relation] cause [Effect] switching costs are strengthened",
    "gold": "[Cause] the learning curve of the software [Relation] enable [Effect] switching costs are strengthened",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As some elective surgeries, such as joint replacements and cataract cannot be delayed indefinitely, we expect to begin seeing evidence of a rebound starting with fiscal second-quarter results.",
    "output": "[Cause] some elective surgeries, such as joint replacements and cataract cannot be delayed indefinitely [Relation] cause [Effect] begin seeing evidence of a rebound starting with fiscal second-quarter results",
    "gold": "[Cause] some elective surgeries, such as joint replacements and cataract cannot be delayed indefinitely [Relation] enable [Effect] begin seeing evidence of a rebound starting with fiscal second-quarter results",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "One potential competitive threat for satellite radio is the nationwide rollout of 5G technology by the wireless carriers which, could help streaming services become more valuable.",
    "output": "[Cause] the nationwide rollout of 5G technology by the wireless carriers [Relation] enable [Effect] help streaming services become more valuable",
    "gold": "[Cause] the nationwide rollout of 5G technology by the wireless carriers [Relation] cause [Effect] help streaming services become more valuable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It is not large enough to be subject to the Fed's stress tests because it has less than $100 billion in assets.",
    "output": "[Cause] it has less than $100 billion in assets [Relation] cause [Effect] It is not large enough to be subject to the Fed's stress tests",
    "gold": "[Cause] it has less than $100 billion in assets [Relation] cause [Effect] It is not large enough to be subject to the Fed's stress tests",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If established competitors or new entrants introduce better products or develop stronger relationships with customers, the company may lose market share as well as its ability to extract price increases.",
    "output": "[Cause] established competitors or new entrants introduce better products or develop stronger relationships with customers [Relation] cause [Effect] the company may lose market share as well as its ability to extract price increases",
    "gold": "[Cause] established competitors or new entrants introduce better products or develop stronger relationships with customers [Relation] cause [Effect] the company may lose market share as well as its ability to extract price increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Viewership of its programs could fall below expectations, and advertisers could pull back on their spending, both of which could drag on advertising sales growth.",
    "output": "[Cause] Viewership of its programs could fall below expectations, and advertisers could pull back on their spending [Relation] cause [Effect] drag on advertising sales growth",
    "gold": "[Cause] Viewership of its programs could fall below expectations, and advertisers could pull back on their spending [Relation] cause [Effect] drag on advertising sales growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project a roughly 200-basis-point operating margin expansion, from 20.3% in 2019 to around 22.5% by 2023, as we expect that successful implementation of Vontier Business System will continue to drive a 25 to 50 basis point annual operating margin expansion over our explicit five-year forecast term.",
    "output": "[Cause] successful implementation of Vontier Business System will continue to drive a 25 to 50 basis point annual operating margin expansion over our explicit five-year forecast term [Relation] cause [Effect] We project a roughly 200-basis-point operating margin expansion, from 20.3% in 2019 to around 22.5% by 2023",
    "gold": "[Cause] successful implementation of Vontier Business System will continue to drive a 25 to 50 basis point annual operating margin expansion over our explicit five-year forecast term [Relation] cause [Effect] We project a roughly 200-basis-point operating margin expansion, from 20.3% in 2019 to around 22.5% by 2023",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A higher mix of chain business should result in modestly lower gross margins, and higher first quarter operating expenses lead us to increase this line item for fiscal 2021.",
    "output": "[Cause] A higher mix of chain business [Relation] cause [Effect] modestly lower gross margins",
    "gold": "[Cause] A higher mix of chain business [Relation] cause [Effect] modestly lower gross margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Market share gains were driven by regained shelf space that was lost during its 2012-13 hiatus, expansion into new channels (enabled by its differentiated direct-to-warehouse delivery system), and expanded breakfast and value brand offerings.",
    "output": "[Cause] regained shelf space that was lost during its 2012-13 hiatus, expansion into new channels (enabled by its differentiated direct-to-warehouse delivery system), and expanded breakfast and value brand offerings [Relation] cause [Effect] Market share gains",
    "gold": "[Cause]  regained shelf space that was lost during its 2012-13 hiatus, expansion into new channels (enabled by its differentiated direct-to-warehouse delivery system), and expanded breakfast and value brand offerings [Relation] enable [Effect] Market share gains",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As composite penetration has progressed further in wide-bodies than narrow-bodies, Hexcel's revenue and operating income are more heavily weighted toward wide-bodies than narrow-bodies.",
    "output": "[Cause] composite penetration has progressed further in wide-bodies than narrow-bodies [Relation] cause [Effect] Hexcel's revenue and operating income are more heavily weighted toward wide-bodies than narrow-bodies",
    "gold": "[Cause] composite penetration has progressed further in wide-bodies than narrow-bodies [Relation] cause [Effect] Hexcel's revenue and operating income are more heavily weighted toward wide-bodies than narrow-bodies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume the company's electrification and automation products will benefit from medium-term structural demand tailwinds for increased automation and robotics products as well as a move toward decarbonization and greater energy management of industrial plants and buildings.",
    "output": "[Cause] medium-term structural demand tailwinds for increased automation and robotics products as well as a move toward decarbonization and greater energy management of industrial plants and buildings [Relation] enable [Effect] the company's electrification and automation products will benefit",
    "gold": "[Cause] medium-term structural demand [Relation] cause [Effect] tailwinds for increased automation and robotics products as well as a move toward decarbonization and greater energy management of industrial plants and buildings",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Fee income will be volatile in the short term due to the result of divestitures, and the economic slowdown due to COVID-19, and we project fee income dropping in 2020 and 2021, followed by a more stable low-single-digit pace in the later years of our forecast.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] the economic slowdown",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] the economic slowdown",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On top of this flexibility being friendly for developers, the process is open for all customers to see and share with each other, meaning that improvements made by any customer through their own trials and errors can be implemented and be jumping off points for other customers.",
    "output": "[Cause] the process is open for all customers to see and share with each other [Relation] cause [Effect] improvements made by any customer through their own trials and errors can be implemented and be jumping off points for other customers",
    "gold": "[Cause]  the process is open for all customers to see and share with each other [Relation] enable [Effect]  improvements made by any customer through their own trials and errors can be implemented and be jumping off points for other customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Virginia is one of Vulcan's weaker states, as its relatively weaker funding ability of its gas tax limits its ability to deliver on the strong underlying need for road work.",
    "output": "[Cause] its relatively weaker funding ability of its gas tax limits its ability to deliver on the strong underlying need for road work [Relation] cause [Effect] Virginia is one of Vulcan's weaker states",
    "gold": "[Cause] its relatively weaker funding ability of its gas tax limits its ability to deliver on the strong underlying need for road work [Relation] cause [Effect] Virginia is one of Vulcan's weaker states",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We must note that growth in demand is driven not only by more users, but also likely by more rides or trips per user.",
    "output": "[Cause] more users [Relation] cause [Effect] growth in demand",
    "gold": "[Cause] more users | more rides or trips per user [Relation] cause [Effect] growth in demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After reviewing Airbnb's fourth-quarter results, we have increased our fair value estimate to $75 per share from $68, largely due to the rolling the model forward past the negative demand and losses seen in 2020.",
    "output": "[Cause] the rolling the model forward past the negative demand and losses seen in 2020 [Relation] cause [Effect] we have increased our fair value estimate to $75 per share from $68",
    "gold": "[Cause] the rolling the model forward past the negative demand and losses seen in 2020 [Relation] enable [Effect] we have increased our fair value estimate to $75 per share from $68",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With consolidation in the managed-care and pharmacy benefit manager industry and budget deficits facing many governments, payers are increasingly pushing for lower drug prices and higher rebates.",
    "output": "[Cause] consolidation in the managed-care and pharmacy benefit manager industry and budget deficits facing many governments [Relation] cause [Effect] payers are increasingly pushing for lower drug prices and higher rebates",
    "gold": "[Cause] consolidation in the managed-care and pharmacy benefit manager industry and budget deficits facing many governments [Relation] cause [Effect] payers are increasingly pushing for lower drug prices and higher rebates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Crown will face meager beverage can demand growth in its developed markets, North America and Europe, due to falling carbonated soft drink and mainstream beer volume, offset by a mix shift from bottles to cans among craft brewers.",
    "output": "[Cause] falling carbonated soft drink and mainstream beer volume, offset by a mix shift from bottles to cans among craft brewers [Relation] cause [Effect] Crown will face meager beverage can demand growth in its developed markets, North America and Europe",
    "gold": "[Cause]  falling carbonated soft drink and mainstream beer volume, offset by a mix shift from bottles to cans among craft brewers [Relation] cause [Effect] Crown will face meager beverage can demand growth in its developed markets, North America and Europe",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the impact these factors could have on Carrier's growth and profitability over our five-year forecast horizon, our fair value estimate uncertainty is high.",
    "output": "[Cause] the impact these factors could have on Carrier's growth and profitability over our five-year forecast horizon [Relation] cause [Effect] our fair value estimate uncertainty is high",
    "gold": "[Cause] the impact these factors could have on Carrier's growth and profitability over our five-year forecast horizon [Relation] cause [Effect] our fair value estimate uncertainty is high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, this strategy offers compelling revenue growth opportunities and has the potential to reinforce customer switching costs because automation solutions perform a mission-critical function and are integrated into a customer's manufacturing process, which we believe can lead to relatively sticky customer relationships.",
    "output": "[Cause] automation solutions perform a mission-critical function and are integrated into a customer's manufacturing process [Relation] cause [Effect] this strategy offers compelling revenue growth opportunities and has the potential to reinforce customer switching costs",
    "gold": "[Cause] automation solutions perform a mission-critical function and are integrated into a customer's manufacturing process [Relation] cause [Effect]  relatively sticky customer relationships",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, this strategy offers compelling revenue growth opportunities and has the potential to reinforce customer switching costs because automation solutions perform a mission-critical function and are integrated into a customer's manufacturing process, which we believe can lead to relatively sticky customer relationships.",
    "output": "[Cause] automation solutions perform a mission-critical function and are integrated into a customer's manufacturing process [Relation] cause [Effect] relatively sticky customer relationships",
    "gold": "[Cause]  relatively sticky customer relationships [Relation] enable [Effect] this strategy offers compelling revenue growth opportunities and has the potential to reinforce customer switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Absent the presence of network service providers, we don't think cloud providers are drawn in by any sort of network effect, and we expect the network effect they create would follow them, meaning that if a major cloud provider took its business elsewhere, many other tenants would eventually follow.",
    "output": "[Cause] the network effect they create would follow them [Relation] cause [Effect] if a major cloud provider took its business elsewhere, many other tenants would eventually follow",
    "gold": "[Cause] the network effect they create would follow them [Relation] cause [Effect] if a major cloud provider took its business elsewhere, many other tenants would eventually follow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Product enhancements such as the Explore tab may have helped increase initial user engagement and improve user retention, but the firm's network effect is weakening considerably as its user base shrinks in size relative to rivals.",
    "output": "[Cause] its user base shrinks in size relative to rivals [Relation] cause [Effect] the firm's network effect is weakening considerably",
    "gold": "[Cause] its user base shrinks in size relative to rivals [Relation] cause [Effect] the firm's network effect is weakening considerably",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The lack of a consumable product orientation, though a benefit to margins, eliminates a source of regular traffic, raising Five Below's customers' bar for the store experience and level of value offered, in our view.",
    "output": "[Cause] The lack of a consumable product orientation [Relation] cause [Effect] raising Five Below's customers' bar for the store experience and level of value offered",
    "gold": "[Cause] The lack of a consumable product orientation [Relation] cause [Effect] raising Five Below's customers' bar for the store experience and level of value offered",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Becoming a more dynamic merchant through supply chain and inventory optimization could boost operating margins, which we forecast will rise to more than 11% in 2029 from 8.6% in 2019.",
    "output": "[Cause] Becoming a more dynamic merchant through supply chain and inventory optimization [Relation] enable [Effect] boost operating margins",
    "gold": "[Cause] Becoming a more dynamic merchant through supply chain and inventory optimization [Relation] cause [Effect] boost operating margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "NextEra aims to parlay its success at FP&L to streamlining operations, reducing carbon emissions, improving customer satisfaction, and investing in new infrastructure at recently acquired Gulf Power.",
    "output": "[Cause] parlay its success at FP&L to streamlining operations, reducing carbon emissions, improving customer satisfaction, and investing in new infrastructure at recently acquired Gulf Power [Relation] enable [Effect] NextEra aims to parlay its success at FP&L",
    "gold": "[Cause] parlay its success at FP&L to streamlining operations, reducing carbon emissions, improving customer satisfaction [Relation] cause [Effect] investing in new infrastructure at recently acquired Gulf Power",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Though in many ways, this crisis is more serious, Discover and its peers have spent the past decade preparing for the next downturn as regulators and investors have stressed credit quality and capital adequacy.",
    "output": "[Cause] regulators and investors have stressed credit quality and capital adequacy [Relation] cause [Effect] Discover and its peers have spent the past decade preparing for the next downturn",
    "gold": "[Cause] regulators and investors have stressed credit quality and capital adequacy [Relation] cause [Effect] Discover and its peers have spent the past decade preparing for the next downturn",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Apart from potential policy changes in Texas, NRG could suffer if annual demand growth falls short of our 2% outlook.",
    "output": "[Cause] annual demand growth falls short of our 2% outlook [Relation] cause [Effect] NRG could suffer",
    "gold": "[Cause] potential policy changes in Texas [Relation] cause [Effect] NRG could suffer",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We have increased our 2021 revenue growth estimate to 58% from 55%, as ad spending bounced back faster from the pandemic than we had expected.",
    "output": "[Cause] ad spending bounced back faster from the pandemic than we had expected [Relation] cause [Effect] We have increased our 2021 revenue growth estimate to 58% from 55%",
    "gold": "[Cause] ad spending bounced back faster from the pandemic than we had expected [Relation] enable [Effect] We have increased our 2021 revenue growth estimate to 58% from 55%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, from a logistics standpoint, Treehouse relies on third-party carriers instead of its own fleet of vehicles, which also takes some leverage out of its selling/distribution function.",
    "output": "[Cause] Treehouse relies on third-party carriers instead of its own fleet of vehicles [Relation] cause [Effect] takes some leverage out of its selling/distribution function",
    "gold": "[Cause] Treehouse relies on third-party carriers instead of its own fleet of vehicles [Relation] cause [Effect] takes some leverage out of its selling/distribution function",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "PSXP's small but growing equity investments in pipelines not directly associated with Phillips 66 assets expands PSXP's ability to leverage its existing network and higher profitability to create incremental value for PSXP and Phillips 66.",
    "output": "[Cause] PSXP's small but growing equity investments in pipelines not directly associated with Phillips 66 assets [Relation] enable [Effect] PSXP's ability to leverage its existing network and higher profitability to create incremental value for PSXP and Phillips 66",
    "gold": "[Cause] PSXP's small but growing equity investments in pipelines not directly associated with Phillips 66 assets [Relation] cause [Effect] PSXP's ability to leverage its existing network and higher profitability to create incremental value for PSXP and Phillips 66",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Other technological investments, including omnichannel ordering capabilities and the expansion of the firm's loyalty program have proven fruitful, with nearly 22 million active members utilizing the loyalty program and driving some 50% of sales volume.",
    "output": "[Cause] Other technological investments, including omnichannel ordering capabilities and the expansion of the firm's loyalty program [Relation] enable [Effect] fruitful",
    "gold": "[Cause] nearly 22 million active members utilizing the loyalty program and driving some 50% of sales volume [Relation] cause [Effect] Other technological investments, including omnichannel ordering capabilities and the expansion of the firm's loyalty program have proven fruitful",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also have concerns regarding the future of storage technology beyond the all-flash array adoption cycle as subsequent hardware innovation may only be applicable to niche uses.",
    "output": "[Cause] subsequent hardware innovation may only be applicable to niche uses [Relation] cause [Effect] concerns regarding the future of storage technology beyond the all-flash array adoption cycle",
    "gold": "[Cause]  subsequent hardware innovation may only be applicable to niche uses [Relation] cause [Effect]  concerns regarding the future of storage technology beyond the all-flash array adoption cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nutrish should stabilize due to new innovations, an increase in marketing, enhanced packaging, and an improved value equation (the price premium to competitors became too wide).",
    "output": "[Cause] an increase in marketing [Relation] cause [Effect] Nutrish should stabilize",
    "gold": "[Cause] an increase in marketing [Relation] enable [Effect] Nutrish should stabilize",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nutrish should stabilize due to new innovations, an increase in marketing, enhanced packaging, and an improved value equation (the price premium to competitors became too wide).",
    "output": "[Cause] an improved value equation [Relation] cause [Effect] Nutrish should stabilize",
    "gold": "[Cause] enhanced packaging [Relation] enable [Effect] Nutrish should stabilize",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nutrish should stabilize due to new innovations, an increase in marketing, enhanced packaging, and an improved value equation (the price premium to competitors became too wide).",
    "output": "[Cause] an improved value equation [Relation] cause [Effect] Nutrish should stabilize",
    "gold": "[Cause] an improved value equation [Relation] enable [Effect] Nutrish should stabilize",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although it suffered a sales decline in 2020, we think Nordstrom's recent large investments to build out its e-commerce platform and network of stores should lead to continued sales and modest profit gains over time.",
    "output": "[Cause] Nordstrom's recent large investments to build out its e-commerce platform and network of stores [Relation] cause [Effect] continued sales and modest profit gains over time",
    "gold": "[Cause] Nordstrom's recent large investments to build out its e-commerce platform and network of stores [Relation] cause [Effect] continued sales and modest profit gains over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, competitors with large installed system bases have financial incentive to introduce a similar TB test, which could negatively affect Qiagen's results eventually.",
    "output": "[Cause] competitors with large installed system bases have financial incentive to introduce a similar TB test [Relation] cause [Effect] negatively affect Qiagen's results eventually",
    "gold": "[Cause]  competitors with large installed system bases have financial incentive to introduce a similar TB test [Relation] cause [Effect] negatively affect Qiagen's results eventually",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If Autodesk software experienced any glitches in these measures, it could suffer reputational risk. Thus far, Autodesk has not experienced any major malfunctions concerning these safety precautions--such as safety checklists for professionals using BIM 360 software.",
    "output": "[Cause] If Autodesk software experienced any glitches in these measures, it could suffer reputational risk [Relation] cause [Effect] Autodesk has not experienced any major malfunctions concerning these safety precautions--such as safety checklists for professionals using BIM 360 software",
    "gold": "[Cause] If Autodesk software experienced any glitches in these measures, it could suffer reputational risk [Relation] cause [Effect] Autodesk has not experienced any major malfunctions concerning these safety precautions--such as safety checklists for professionals using BIM 360 software",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We would expect Slack to expand its portfolio over time so it is better equipped to retain customers and develop the ability to upsell additional software solutions rather than relying simply on new organizations and new seats.",
    "output": "[Cause] Slack to expand its portfolio over time [Relation] enable [Effect] develop the ability to upsell additional software solutions",
    "gold": "[Cause] relying simply on new organizations and new seats [Relation] cause [Effect] develop the ability to upsell additional software solutions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "International Paper would probably see revenue and profitability decline meaningfully if the United States, which accounts for roughly 80% of sales, were to experience economic weakness.",
    "output": "[Cause] the United States, which accounts for roughly 80% of sales, were to experience economic weakness [Relation] cause [Effect] International Paper would probably see revenue and profitability decline meaningfully",
    "gold": "[Cause] the United States, which accounts for roughly 80% of sales, were to experience economic weakness [Relation] cause [Effect] International Paper would probably see revenue and profitability decline meaningfully",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect that figure to rebound to the 20% mark over the next five years, supported by Unilever's cost-savings program, which should help mitigate pressure from the intensely competitive environment.",
    "output": "[Cause] Unilever's cost-savings program [Relation] enable [Effect] mitigate pressure from the intensely competitive environment",
    "gold": "[Cause]  Unilever's cost-savings program [Relation] enable [Effect] mitigate pressure from the intensely competitive environment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the firm's satellite business deteriorates faster than we expect, free cash flow would suffer, diminishing its ability to repay debt while investing in its wireless business.",
    "output": "[Cause] the firm's satellite business deteriorates faster than we expect [Relation] cause [Effect] free cash flow would suffer, diminishing its ability to repay debt while investing in its wireless business",
    "gold": "[Cause] the firm's satellite business deteriorates faster than we expect [Relation] cause [Effect] free cash flow would suffer, diminishing its ability to repay debt while investing in its wireless business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate that as electric vehicles gain market share, manufacturers may cut Kautex's fuel systems out of the value chain, causing the company to suffer from structural overcapacity.",
    "output": "[Cause] electric vehicles gain market share [Relation] cause [Effect] cut Kautex's fuel systems out of the value chain",
    "gold": "[Cause] electric vehicles gain market share [Relation] cause [Effect] cut Kautex's fuel systems out of the value chain",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate that as electric vehicles gain market share, manufacturers may cut Kautex's fuel systems out of the value chain, causing the company to suffer from structural overcapacity.",
    "output": "[Cause] cut Kautex's fuel systems out of the value chain [Relation] cause [Effect] the company to suffer from structural overcapacity",
    "gold": "[Cause] cut Kautex's fuel systems out of the value chain [Relation] cause [Effect] the company to suffer from structural overcapacity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Johnson Controls' failure to keep pace with global green building standards and product demand trends could result in reputational risk and lost market share, but we see a low probability of this risk materializing.",
    "output": "[Cause] Johnson Controls' failure to keep pace with global green building standards and product demand trends [Relation] cause [Effect] reputational risk and lost market share",
    "gold": "[Cause] Johnson Controls' failure to keep pace with global green building standards and product demand trends [Relation] cause [Effect]  reputational risk and lost market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "XPO's ambitious acquisition strategy has propelled its multifarious operations into the ranks of the largest providers in each space.",
    "output": "[Cause] XPO's ambitious acquisition strategy [Relation] enable [Effect] propelled its multifarious operations into the ranks of the largest providers in each space",
    "gold": "[Cause] XPO's ambitious acquisition strategy [Relation] cause [Effect] propelled its multifarious operations into the ranks of the largest providers in each space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Any weakness in private-label credit card growth will likely remain a headwind for Synchrony, as its cobranded general-purpose cards are only 23% of its interest income.",
    "output": "[Cause] its cobranded general-purpose cards are only 23% of its interest income [Relation] cause [Effect] Any weakness in private-label credit card growth will likely remain a headwind for Synchrony",
    "gold": "[Cause] its cobranded general-purpose cards are only 23% of its interest income [Relation] cause [Effect] Any weakness in private-label credit card growth will likely remain a headwind for Synchrony",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Any weakness in private-label credit card growth will likely remain a headwind for Synchrony, as its cobranded general-purpose cards are only 23% of its interest income.",
    "output": "[Cause] its cobranded general-purpose cards are only 23% of its interest income [Relation] cause [Effect] Any weakness in private-label credit card growth will likely remain a headwind for Synchrony",
    "gold": "[Cause] Any weakness in private-label credit card growth [Relation] cause [Effect] a headwind for Synchrony",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These add-on features make the automaker money too because they are typically bundled with other non-Gentex features in an expensive tech or safety package on a vehicle. This allows the automaker to offer a variety of trims without having to redesign a vehicle's interior at great expense.",
    "output": "[Cause] These add-on features make the automaker money too because they are typically bundled with other non-Gentex features in an expensive tech or safety package on a vehicle [Relation] enable [Effect] the automaker to offer a variety of trims without having to redesign a vehicle's interior at great expense",
    "gold": "[Cause] These add-on features make the automaker money too because they are typically bundled with other non-Gentex features in an expensive tech or safety package on a vehicle [Relation] enable [Effect]  the automaker to offer a variety of trims without having to redesign a vehicle's interior at great expense",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While most sellers at Ritchie Bros.' auctions shoulder all the transaction value risk, the staff can deviate from its core model, given its access to historical pricing information.",
    "output": "[Cause] its access to historical pricing information [Relation] cause [Effect] the staff can deviate from its core model",
    "gold": "[Cause] most sellers at Ritchie Bros.' auctions shoulder all the transaction value risk [Relation] cause [Effect] he staff can deviate from its core model, given its access to historical pricing information",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If a pay-TV distributor like Comcast or Dish Network wants to carry one of the four broadcast networks in a specific market, it must retransmit the local station feed for that market.",
    "output": "[Cause] a pay-TV distributor like Comcast or Dish Network wants to carry one of the four broadcast networks in a specific market [Relation] cause [Effect] it must retransmit the local station feed for that market",
    "gold": "[Cause] retransmit the local station feed for that market [Relation] enable [Effect] a pay-TV distributor like Comcast or Dish Network wants to carry one of the four broadcast networks in a specific market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Even though the length of these projects is shorter than Wipro's other offerings, we still believe it is difficult for customers to switch to another IT consultant for new projects, as these projects entail delivering often ambiguous outcomes, which therefore requires much trust.",
    "output": "[Cause] these projects entail delivering often ambiguous outcomes [Relation] cause [Effect] requires much trust",
    "gold": "[Cause] as these projects entail delivering often ambiguous outcomes, which therefore requires much trust. [Relation] enable [Effect] Even though the length of these projects is shorter than Wipro's other offerings, we still believe it is difficult for customers to switch to another IT consultant for new projects",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think its technical abilities are aided by its proximity and relation to a top engineering school, Carnegie Mellon (at which there's an Ansys Hall).",
    "output": "[Cause] its proximity and relation to a top engineering school, Carnegie Mellon [Relation] enable [Effect] its technical abilities",
    "gold": "[Cause]  its proximity and relation to a top engineering school, Carnegie Mellon [Relation] enable [Effect]  its technical abilities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are skeptical of management's lofty goal of 43% adjusted gross margin, but expect its focus on higher-margin verticals and improved manufacturing footprint to get it past 40% in the next five years--from a previous midcycle margin below 38%.",
    "output": "[Cause] its focus on higher-margin verticals and improved manufacturing footprint [Relation] enable [Effect] get it past 40% in the next five years--from a previous midcycle margin below 38%",
    "gold": "[Cause] its focus on higher-margin verticals and improved manufacturing footprint [Relation] enable [Effect] get it past 40% in the next five years--from a previous midcycle margin below 38%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see the bank's efficiency ratio worsening as a less favorable interest-rate environment challenges net interest margins, but eventually we believe the efficiency ratio will normalize to 57% through the cycle.",
    "output": "[Cause] a less favorable interest-rate environment challenges net interest margins [Relation] cause [Effect] the bank's efficiency ratio worsening",
    "gold": "[Cause] a less favorable interest-rate environment challenges net interest margins [Relation] cause [Effect] the bank's efficiency ratio worsening",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the speed with which technology changes and data centers' close connection to it leave us wary about making a 20-year assumption with any confidence.",
    "output": "[Cause] the speed with which technology changes and data centers' close connection to it [Relation] cause [Effect] us wary about making a 20-year assumption with any confidence",
    "gold": "[Cause] the speed with which technology changes and data centers' close connection to it [Relation] cause [Effect] us wary about making a 20-year assumption with any confidence",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite the potential, we do not view the company to have enough critical mass to drive economic profits as a stand-alone entity, especially considering its hefty financial obligations.",
    "output": "[Cause] its hefty financial obligations [Relation] prevent [Effect] the company to have enough critical mass to drive economic profits as a stand-alone entity",
    "gold": "[Cause] its hefty financial obligations [Relation] prevent [Effect] the company to have enough critical mass to drive economic profits as a stand-alone entity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that the efforts to streamline operations, reduce processes and systems, and shrink its global footprint should aid in operational growth, but we are cautious about a more streamlined HPE's ability to produce excess returns if IT infrastructure spending wanes.",
    "output": "[Cause] the efforts to streamline operations, reduce processes and systems, and shrink its global footprint [Relation] enable [Effect] aid in operational growth",
    "gold": "[Cause]  IT infrastructure spending wanes [Relation] cause [Effect] we are cautious about a more streamlined HPE's ability to produce excess returns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe that the efforts to streamline operations, reduce processes and systems, and shrink its global footprint should aid in operational growth, but we are cautious about a more streamlined HPE's ability to produce excess returns if IT infrastructure spending wanes.",
    "output": "[Cause] IT infrastructure spending wanes [Relation] cause [Effect] we are cautious about a more streamlined HPE's ability to produce excess returns",
    "gold": "[Cause]  the efforts to streamline operations, reduce processes and systems, and shrink its global footprint [Relation] enable [Effect] aid in operational growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Verizon has undertaken a major fiber expansion project over the past couple years to extend capacity into more locations around the U.S., with the primary goal of supporting its wireless networks while also enabling it to offer new services.",
    "output": "[Cause] Verizon has undertaken a major fiber expansion project over the past couple years [Relation] enable [Effect] extend capacity into more locations around the U.S.",
    "gold": "[Cause] Verizon has undertaken a major fiber expansion project over the past couple years to extend capacity into more locations around the U.S. [Relation] enable [Effect] supporting its wireless networks while also enabling it to offer new services",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "From a contract perspective, we think Plains operates similar to peers in terms of obtaining long-term take-or-pay contracts for newbuild assets, but it faces more challenges than peers on renewals due to how service is provided.",
    "output": "[Cause] how service is provided [Relation] cause [Effect] it faces more challenges than peers on renewals",
    "gold": "[Cause] how service is provided [Relation] cause [Effect]  it faces more challenges than peers on renewals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To improve small and medium enterprise (SME) ad revenue, Weibo is expanding into untapped verticals and faster-growing verticals such as Taobao merchants, online education and online gaming by restructuring its sales team since 2019.",
    "output": "[Cause] improve small and medium enterprise (SME) ad revenue [Relation] enable [Effect] Weibo is expanding into untapped verticals and faster-growing verticals",
    "gold": "[Cause] Weibo is expanding into untapped verticals and faster-growing verticals such as Taobao merchants, online education and online gamin [Relation] enable [Effect] improve small and medium enterprise (SME) ad revenue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To improve small and medium enterprise (SME) ad revenue, Weibo is expanding into untapped verticals and faster-growing verticals such as Taobao merchants, online education and online gaming by restructuring its sales team since 2019.",
    "output": "[Cause] restructuring its sales team since 2019 [Relation] enable [Effect] improve small and medium enterprise (SME) ad revenue",
    "gold": "[Cause] restructuring its sales team since 2019 [Relation] enable [Effect] Weibo is expanding into untapped verticals and faster-growing verticals such as Taobao merchants, online education and online gamin",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The coronavirus pandemic presents risks in that it has limited the mobility of Americans, although there are some countervailing factors related to the pandemic that have benefited the self-storage industry.",
    "output": "[Cause] it has limited the mobility of Americans [Relation] cause [Effect] The coronavirus pandemic presents risks",
    "gold": "[Cause]  it has limited the mobility of Americans [Relation] cause [Effect] The coronavirus pandemic presents risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Infineon also has significant exposure to customers located in Europe, which may provide headwinds if the region continues to undergo economic turmoil.",
    "output": "[Cause] the region continues to undergo economic turmoil [Relation] cause [Effect] provide headwinds",
    "gold": "[Cause] Infineon also has significant exposure to customers located in Europe [Relation] cause [Effect] provide headwinds",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Infineon also has significant exposure to customers located in Europe, which may provide headwinds if the region continues to undergo economic turmoil.",
    "output": "[Cause] the region continues to undergo economic turmoil [Relation] cause [Effect] provide headwinds",
    "gold": "[Cause] the region continues to undergo economic turmoil [Relation] cause [Effect] provide headwinds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Weak industrial end markets and a soft pricing environment contributed to two straight years of declining sales in 2015 and 2016; however, sales growth resumed in 2017, and over the coming years, as the U.S.",
    "output": "[Cause] Weak industrial end markets and a soft pricing environment [Relation] cause [Effect] two straight years of declining sales in 2015 and 2016",
    "gold": "[Cause] Weak industrial end markets and a soft pricing environment [Relation] cause [Effect] two straight years of declining sales in 2015 and 2016",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Britain is not a major source of tobacco leaf, so a very small percentage of the company's operating costs is denominated in sterling, meaning that the firm is highly exposed to a strengthening of the British pound.",
    "output": "[Cause] Britain is not a major source of tobacco leaf [Relation] cause [Effect] a very small percentage of the company's operating costs is denominated in sterling",
    "gold": "[Cause] Britain is not a major source of tobacco leaf [Relation] cause [Effect] a very small percentage of the company's operating costs is denominated in sterling",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Marsh & McLennan will see a bit of a boost from a strong insurance pricing picture in 2021, and the headwinds from the pandemic should subside, leading to better growth than the company has experienced historically.",
    "output": "[Cause] the headwinds from the pandemic should subside [Relation] cause [Effect] better growth than the company has experienced historically",
    "gold": "[Cause]  the headwinds from the pandemic should subside [Relation] enable [Effect]  better growth than the company has experienced historically",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Much of this revenue is derived from RF filters that enable today's wireless communication by ensuring the various transmissions and receptions of voice and data streams do not interfere with one another.",
    "output": "[Cause] ensuring the various transmissions and receptions of voice and data streams do not interfere with one another [Relation] enable [Effect] today's wireless communication",
    "gold": "[Cause] ensuring the various transmissions and receptions of voice and data streams do not interfere with one another [Relation] enable [Effect]  today's wireless communication",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Comerica's business model remains heavily reliant on interest rates, we believe that in a normalized interest rate environment the bank's superior deposit costs and business relationships will result in returns that exceed the bank's 9% cost of equity.",
    "output": "[Cause] bank's superior deposit costs and business relationships [Relation] cause [Effect] returns that exceed the bank's 9% cost of equity",
    "gold": "[Cause] a normalized interest rate environment [Relation] enable [Effect] the bank's superior deposit costs and business relationships will result in returns that exceed the bank's 9% cost of equity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In order to earn the right to compete in the commercial security market, security product manufacturers must have a proven ability to meet or exceed stringent building code standards and manage the complexities of large-scale projects.",
    "output": "[Cause] security product manufacturers must have a proven ability to meet or exceed stringent building code standards and manage the complexities of large-scale projects [Relation] enable [Effect] earn the right to compete in the commercial security market",
    "gold": "[Cause]  earn the right to compete in the commercial security market [Relation] cause [Effect] security product manufacturers must have a proven ability to meet or exceed stringent building code standards and manage the complexities of large-scale projects",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "ResMed plays a key role in driving diagnosis with its at-home sleep testing devices and ongoing education drive to create awareness of the disease.",
    "output": "[Cause] its at-home sleep testing devices and ongoing education drive to create awareness of the disease [Relation] enable [Effect] ResMed plays a key role in driving diagnosis",
    "gold": "[Cause] ResMed plays a key role in driving diagnosis with its at-home sleep testing devices and ongoing education [Relation] cause [Effect] create awareness of the disease",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With no distinction between clients and owners, their first objective is to provide high-quality service at the lowest cost possible for their clients.",
    "output": "[Cause] no distinction between clients and owners [Relation] cause [Effect] their first objective is to provide high-quality service at the lowest cost possible for their clients",
    "gold": "[Cause] no distinction between clients and owners [Relation] cause [Effect] their first objective is to provide high-quality service at the lowest cost possible for their clients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The competitive environment is intense and becoming more challenging as Amazon scales and physical rivals deliver an omnichannel experience, but we believe the values that Costco offers (driven by cost leverage, procurement strength, and top-class store efficiency) should allow it to keep traffic high.",
    "output": "[Cause] Amazon scales and physical rivals deliver an omnichannel experience [Relation] cause [Effect] The competitive environment is intense and becoming more challenging",
    "gold": "[Cause] Amazon scales and physical rivals deliver an omnichannel experience [Relation] cause [Effect] The competitive environment is intense and becoming more challenging",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The competitive environment is intense and becoming more challenging as Amazon scales and physical rivals deliver an omnichannel experience, but we believe the values that Costco offers (driven by cost leverage, procurement strength, and top-class store efficiency) should allow it to keep traffic high.",
    "output": "[Cause] the values that Costco offers [Relation] enable [Effect] it to keep traffic high",
    "gold": "[Cause]  the values that Costco offers [Relation] enable [Effect] it to keep traffic high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The competitive environment is intense and becoming more challenging as Amazon scales and physical rivals deliver an omnichannel experience, but we believe the values that Costco offers (driven by cost leverage, procurement strength, and top-class store efficiency) should allow it to keep traffic high.",
    "output": "[Cause] the values that Costco offers [Relation] enable [Effect] it to keep traffic high",
    "gold": "[Cause]  cost leverage, procurement strength, and top-class store efficiency [Relation] enable [Effect]  the values that Costco offers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Ventas has established itself as a desirable partner with some of the top hospitals as 95% of Ventas' MOB assets are affiliated with a health system.",
    "output": "[Cause] 95% of Ventas' MOB assets are affiliated with a health system [Relation] cause [Effect] Ventas has established itself as a desirable partner with some of the top hospitals",
    "gold": "[Cause] 95% of Ventas' MOB assets are affiliated with a health system [Relation] cause [Effect] Ventas has established itself as a desirable partner with some of the top hospitals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Robinson's strong technology infrastructure, coupled with a vast reservoir of market data, also enhances internal pricing decisions and improves customer connectivity and reporting.",
    "output": "[Cause] Robinson's strong technology infrastructure, coupled with a vast reservoir of market data [Relation] enable [Effect] enhances internal pricing decisions and improves customer connectivity and reporting",
    "gold": "[Cause] Robinson's strong technology infrastructure, coupled with a vast reservoir of market data [Relation] enable [Effect] enhances internal pricing decisions and improves customer connectivity and reporting",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Following a down fiscal 2019 due to a deceleration in 3D NAND, DRAM, and display spending, we expect the firm to grow revenue at a 10% CAGR through fiscal 2025.",
    "output": "[Cause] Following a down fiscal 2019 due to a deceleration in 3D NAND, DRAM, and display spending [Relation] cause [Effect] the firm to grow revenue at a 10% CAGR through fiscal 2025",
    "gold": "[Cause] a deceleration in 3D NAND, DRAM, and display spending [Relation] cause [Effect] a down fiscal 2019",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We project Disney's overall operating margin will improve to 15.4% in fiscal 2024 from 5.8% in fiscal 2020 as the losses at the DTC segment are offset by margin improvements at the studio and parks segments after recovering from the impact of the COVID-19 pandemic.",
    "output": "[Cause] the losses at the DTC segment are offset by margin improvements at the studio and parks segments after recovering from the impact of the COVID-19 pandemic [Relation] cause [Effect] Disney's overall operating margin will improve to 15.4% in fiscal 2024 from 5.8% in fiscal 2020",
    "gold": "[Cause] the losses at the DTC segment are offset by margin improvements at the studio and parks segments after recovering from the impact of the COVID-19 pandemic [Relation] cause [Effect] Disney's overall operating margin will improve to 15.4% in fiscal 2024 from 5.8% in fiscal 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project Disney's overall operating margin will improve to 15.4% in fiscal 2024 from 5.8% in fiscal 2020 as the losses at the DTC segment are offset by margin improvements at the studio and parks segments after recovering from the impact of the COVID-19 pandemic.",
    "output": "[Cause] margin improvements at the studio and parks segments after recovering from the impact of the COVID-19 pandemic [Relation] cause [Effect] Disney's overall operating margin will improve to 15.4% in fiscal 2024 from 5.8% in fiscal 2020",
    "gold": "[Cause] margin improvements at the studio and parks segments [Relation] prevent [Effect] the losses at the DTC segment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we don't envision the retailer would reduce shelf space allotted to the category, given strong demand for the products, it is possible retailers could seek to use the category to draw traffic by pushing for vendor-supported promotions and discounts.",
    "output": "[Cause] strong demand for the products [Relation] cause [Effect] retailers could seek to use the category to draw traffic",
    "gold": "[Cause] pushing for vendor-supported promotions and discounts [Relation] enable [Effect]  retailers could seek to use the category to draw traffic",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we don't envision the retailer would reduce shelf space allotted to the category, given strong demand for the products, it is possible retailers could seek to use the category to draw traffic by pushing for vendor-supported promotions and discounts.",
    "output": "[Cause] strong demand for the products [Relation] cause [Effect] retailers could seek to use the category to draw traffic",
    "gold": "[Cause]  strong demand for the products [Relation] prevent [Effect] envision the retailer would reduce shelf space allotted to the category",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Much of the partnership's efforts over the past few years have focused on debottlenecking NGL volumes out of the Appalachian region and providing Midwestern and western Canadian producers with access to cheaper natural gasoline and condensate.",
    "output": "[Cause] Much of the partnership's efforts over the past few years [Relation] enable [Effect] debottlenecking NGL volumes out of the Appalachian region and providing Midwestern and western Canadian producers with access to cheaper natural gasoline and condensate",
    "gold": "[Cause] Much of the partnership's efforts over the past few years [Relation] cause [Effect] debottlenecking NGL volumes out of the Appalachian region and providing Midwestern and western Canadian producers with access to cheaper natural gasoline and condensate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect TAL Education Group's margins should improve from fourth-quarter fiscal 2021, given that we expect tuition discounts will be pared back as China restores normal business practice following COVID-19.",
    "output": "[Cause] China restores normal business practice following COVID-19 [Relation] cause [Effect] tuition discounts will be pared back",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] China restores normal business practice",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect TAL Education Group's margins should improve from fourth-quarter fiscal 2021, given that we expect tuition discounts will be pared back as China restores normal business practice following COVID-19.",
    "output": "[Cause] tuition discounts will be pared back [Relation] cause [Effect] TAL Education Group's margins should improve from fourth-quarter fiscal 2021",
    "gold": "[Cause] China restores normal business practice [Relation] enable [Effect] tuition discounts will be pared back",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect TAL Education Group's margins should improve from fourth-quarter fiscal 2021, given that we expect tuition discounts will be pared back as China restores normal business practice following COVID-19.",
    "output": "[Cause] tuition discounts will be pared back [Relation] cause [Effect] TAL Education Group's margins should improve from fourth-quarter fiscal 2021",
    "gold": "[Cause] tuition discounts will be pared back [Relation] cause [Effect] TAL Education Group's margins should improve from fourth-quarter fiscal 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Historically, Exxon has rated as one of the highest-quality integrated firms, given its ability to capture economic rents along the oil and gas value chain.",
    "output": "[Cause] its ability to capture economic rents along the oil and gas value chain [Relation] cause [Effect] Exxon has rated as one of the highest-quality integrated firms",
    "gold": "[Cause] its ability to capture economic rents along the oil and gas value chain [Relation] cause [Effect]  Exxon has rated as one of the highest-quality integrated firms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fluctuating prices for key commodities the company extracts and sells has been a constant risk for Republic's recycling operations (3% of 2020 revenue), and the business was adversely affected by China's import restrictions, which pressured recycled commodity prices.",
    "output": "[Cause] Fluctuating prices for key commodities the company extracts and sells [Relation] cause [Effect] pressured recycled commodity prices",
    "gold": "[Cause] China's import restrictions, which pressured recycled commodity prices [Relation] cause [Effect] Fluctuating prices for key commodities the company extracts and sells has been a constant risk for Republic's recycling operations (3% of 2020 revenue), and the business was adversely affected",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, the costs of running a network are mostly fixed, so incremental revenue from additional purchase volumes drop directly down to the network's bottom line, further advantaging existing networks over potential entrants that would not benefit from scale.",
    "output": "[Cause] the costs of running a network are mostly fixed [Relation] cause [Effect] incremental revenue from additional purchase volumes drop directly down to the network's bottom line",
    "gold": "[Cause] the costs of running a network are mostly fixed [Relation] cause [Effect] incremental revenue from additional purchase volumes drop directly down to the network's bottom line",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, the costs of running a network are mostly fixed, so incremental revenue from additional purchase volumes drop directly down to the network's bottom line, further advantaging existing networks over potential entrants that would not benefit from scale.",
    "output": "[Cause] incremental revenue from additional purchase volumes drop directly down to the network's bottom line [Relation] cause [Effect] further advantaging existing networks over potential entrants that would not benefit from scale",
    "gold": "[Cause] incremental revenue from additional purchase volumes drop directly down to the network's bottom line [Relation] prevent [Effect] further advantaging existing networks over potential entrants that would not benefit from scale",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Unlike some of its competitors, Sling TV is not an attempt to repackage the entire cable bundle as Dish has decided to eschew carrying local broadcasters and regional sports networks in many markets.",
    "output": "[Cause] Dish has decided to eschew carrying local broadcasters and regional sports networks in many markets [Relation] cause [Effect] Sling TV is not an attempt to repackage the entire cable bundle",
    "gold": "[Cause] Dish has decided to eschew carrying local broadcasters and regional sports networks in many markets [Relation] enable [Effect] Sling TV is not an attempt to repackage the entire cable bundle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The housing market has shown a tendency for boom and bust dynamics, and we think Redfin is untested in a bust environment, given the bulk of its growth occurred after the Great Recession.",
    "output": "[Cause] the bulk of its growth occurred after the Great Recession [Relation] cause [Effect] Redfin is untested in a bust environment",
    "gold": "[Cause] the bulk of its growth occurred after the Great Recession [Relation] cause [Effect] Redfin is untested in a bust environment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These products are highly discretionary, so companies looking to save on costs in a downturn frequently choose to cut a planned purchase of a jet.",
    "output": "[Cause] These products are highly discretionary [Relation] cause [Effect] companies looking to save on costs in a downturn frequently choose to cut a planned purchase of a jet",
    "gold": "[Cause] These products are highly discretionary [Relation] cause [Effect] companies looking to save on costs in a downturn frequently choose to cut a planned purchase of a jet",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By moving away from third-party suppliers, the firm is better able to control the costs and production risks associated with the engines.",
    "output": "[Cause] moving away from third-party suppliers [Relation] enable [Effect] the firm is better able to control the costs and production risks associated with the engines",
    "gold": "[Cause] moving away from third-party suppliers [Relation] enable [Effect] the firm is better able to control the costs and production risks associated with the engines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Similar to contract research organizations, which provide research support in the healthcare space, West maintains a cost advantage over its customers, allowing the firm to win business from companies outsourcing material design and manufacturing.",
    "output": "[Cause] West maintains a cost advantage over its customers [Relation] enable [Effect] the firm to win business from companies outsourcing material design and manufacturing",
    "gold": "[Cause] West maintains a cost advantage over its customers [Relation] enable [Effect] the firm to win business from companies outsourcing material design and manufacturing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Avnet is a linchpin between semiconductor vendors and its end-market customers and is thus exposed to cyclicality on both sides.",
    "output": "[Cause] Avnet is a linchpin between semiconductor vendors and its end-market customers [Relation] cause [Effect] exposed to cyclicality on both sides",
    "gold": "[Cause] Avnet is a linchpin between semiconductor vendors and its end-market customers [Relation] cause [Effect] exposed to cyclicality on both sides",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management's recent increase in its planned infrastructure investment and acquisitions resulted in our average annual EPS growth estimate increasing by 60 basis points, to 9.5%.",
    "output": "[Cause] Management's recent increase in its planned infrastructure investment and acquisitions [Relation] cause [Effect] our average annual EPS growth estimate increasing by 60 basis points, to 9.5%",
    "gold": "[Cause] Management's recent increase in its planned infrastructure investment and acquisitions [Relation] enable [Effect] our average annual EPS growth estimate increasing by 60 basis points, to 9.5%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are slightly reducing our fair value estimate to $192 per share from $194 after incorporating fourth-quarter results and updating our internal growth assumptions to account for lower growth in the near term due to fallout from the pandemic.",
    "output": "[Cause] fallout from the pandemic [Relation] cause [Effect] We are slightly reducing our fair value estimate to $192 per share from $194 after incorporating fourth-quarter results and updating our internal growth assumptions to account for lower growth in the near term",
    "gold": "[Cause] fallout from the pandemic [Relation] cause [Effect] We are slightly reducing our fair value estimate to $192 per share from $194 after incorporating fourth-quarter results and updating our internal growth assumptions to account for lower growth in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There is risk that policymakers will move retail customers away from gas heating, but we think that's unlikely in the near future given the colder climates where Xcel operates.",
    "output": "[Cause] the colder climates where Xcel operates [Relation] cause [Effect] that's unlikely in the near future",
    "gold": "[Cause] the colder climates where Xcel operates [Relation] cause [Effect]  that's unlikely in the near future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Weixin or mobile QQ become the go-to platforms because they possess a sizable amount of mini programs, existing mini program developers also benefit from the overall increase in traffic.",
    "output": "[Cause] they possess a sizable amount of mini programs [Relation] cause [Effect] Weixin or mobile QQ become the go-to platforms",
    "gold": "[Cause]  they possess a sizable amount of mini programs [Relation] cause [Effect] Weixin or mobile QQ become the go-to platforms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Weixin or mobile QQ become the go-to platforms because they possess a sizable amount of mini programs, existing mini program developers also benefit from the overall increase in traffic.",
    "output": "[Cause] the overall increase in traffic [Relation] enable [Effect] existing mini program developers also benefit",
    "gold": "[Cause]  the overall increase in traffic [Relation] enable [Effect]  existing mini program developers also benefit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Significant operating leverage makes both alternatives highly profitable for Crown--additional tenants and equipment upgrades can be added to towers for very little incremental cost.",
    "output": "[Cause] Significant operating leverage [Relation] enable [Effect] both alternatives highly profitable for Crown",
    "gold": "[Cause] Significant operating leverage [Relation] enable [Effect] both alternatives highly profitable for Crown",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a long-haul truck can consume over $500,000 in diesel fuel over its lifetime, firms such as Tesla, Nikola, and Xos have proposed heavy-duty trucks with electric drivetrains that are powered either by batteries or by hydrogen fuel cells.",
    "output": "[Cause] a long-haul truck can consume over $500,000 in diesel fuel over its lifetime [Relation] cause [Effect] firms such as Tesla, Nikola, and Xos have proposed heavy-duty trucks with electric drivetrains that are powered either by batteries or by hydrogen fuel cells",
    "gold": "[Cause]  a long-haul truck can consume over $500,000 in diesel fuel over its lifetime [Relation] cause [Effect] firms such as Tesla, Nikola, and Xos have proposed heavy-duty trucks with electric drivetrains that are powered either by batteries or by hydrogen fuel cells",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In fact, during a downturn in new-vehicle sales, dealers generally report higher gross margins due to a favorable mix shift, but then report lower operating margins because of SG&A deleveraging.",
    "output": "[Cause] a favorable mix shift [Relation] cause [Effect] dealers generally report higher gross margins",
    "gold": "[Cause] a favorable mix shift [Relation] cause [Effect] dealers generally report higher gross margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In fact, during a downturn in new-vehicle sales, dealers generally report higher gross margins due to a favorable mix shift, but then report lower operating margins because of SG&A deleveraging.",
    "output": "[Cause] SG&A deleveraging [Relation] cause [Effect] report lower operating margins",
    "gold": "[Cause] SG&A deleveraging [Relation] cause [Effect]  report lower operating margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It limited its investment banking activities to products and services that augment existing operations in the markets where it has an established presence and deep local knowledge.",
    "output": "[Cause] it has an established presence and deep local knowledge [Relation] cause [Effect] It limited its investment banking activities to products and services that augment existing operations in the markets",
    "gold": "[Cause] It limited its investment banking activities to products and services [Relation] cause [Effect] augment existing operations in the markets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although Alphabet does not break out revenue for its other bets segment, we assume Fiber and Verily generate most of this revenue, as commercialization of Waymo is in its early stages.",
    "output": "[Cause] commercialization of Waymo is in its early stages [Relation] cause [Effect] Fiber and Verily generate most of this revenue",
    "gold": "[Cause] commercialization of Waymo is in its early stages [Relation] cause [Effect] Fiber and Verily generate most of this revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Bank customers often resist moving financial service providers due to the hassle of opening/closing accounts, the lack of perceived benefit, and numerous deposit and payment links.",
    "output": "[Cause] the hassle of opening/closing accounts, the lack of perceived benefit, and numerous deposit and payment links [Relation] cause [Effect] Bank customers often resist moving financial service providers",
    "gold": "[Cause] the hassle of opening/closing accounts, the lack of perceived benefit, and numerous deposit and payment links [Relation] cause [Effect] Bank customers often resist moving financial service providers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This is an even greater challenge when employees have to pay for the food out of their own pockets, as the choice to bring food from off campus can easily replace the corporate cafeteria.",
    "output": "[Cause] the choice to bring food from off campus can easily replace the corporate cafeteria [Relation] cause [Effect] This is an even greater challenge when employees have to pay for the food out of their own pockets",
    "gold": "[Cause]  the choice to bring food from off campus can easily replace the corporate cafeteria [Relation] cause [Effect] This is an even greater challenge when employees have to pay for the food out of their own pockets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The development of EDA tools requires a high level of consistent R&amp;D, as a result of which chip designers prefer to utilize EDA tools provided by companies like Cadence rather than develop them in-house.",
    "output": "[Cause] chip designers prefer to utilize EDA tools provided by companies like Cadence rather than develop them in-house [Relation] cause [Effect] The development of EDA tools requires a high level of consistent R&amp;D",
    "gold": "[Cause] chip designers prefer to utilize EDA tools provided by companies like Cadence rather than develop them in-house [Relation] cause [Effect] The development of EDA tools requires a high level of consistent R&amp;D",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Oneok operates as a corporation instead of limited partnership, which brings certain advantages in terms of broadening the shareholder base, allowing it to be represented in indexes, and reduced tax complexity.",
    "output": "[Cause] Oneok operates as a corporation instead of limited partnership [Relation] enable [Effect] brings certain advantages in terms of broadening the shareholder base, allowing it to be represented in indexes, and reduced tax complexity",
    "gold": "[Cause] Oneok operates as a corporation instead of limited partnership [Relation] cause [Effect] brings certain advantages in terms of broadening the shareholder base, allowing it to be represented in indexes, and reduced tax complexity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Replicating the company's GDS platform would entail aggregating and connecting content from several hundred airlines to a platform that is also connected to travel agents, which requires significant costs and time. As a result of these barriers, three operators--Sabre, Amadeus, and Travelport--control nearly 100% of the GDS market, and we think they enjoy efficient scale, which is evident in the limited traction that airlines or travel agents have had in bypassing this distribution platform.",
    "output": "[Cause] Replicating the company's GDS platform would entail aggregating and connecting content from several hundred airlines to a platform that is also connected to travel agents, which requires significant costs and time [Relation] cause [Effect] three operators--Sabre, Amadeus, and Travelport--control nearly 100% of the GDS market, and we think they enjoy efficient scale, which is evident in the limited traction that airlines or travel agents have had in bypassing this distribution platform",
    "gold": "[Cause] Replicating the company's GDS platform would entail aggregating and connecting content from several hundred airlines to a platform that is also connected to travel agents, which requires significant costs and time [Relation] cause [Effect] three operators--Sabre, Amadeus, and Travelport--control nearly 100% of the GDS market, and we think they enjoy efficient scale, which is evident in the limited traction that airlines or travel agents have had in bypassing this distribution platform",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Growth will come from increased vehicle penetration as more original-equipment manufacturers make the safety benefit of auto-dimming technology available and as Gentex's research leads to new, advanced-feature mirrors that ultimately become standard products.",
    "output": "[Cause] Gentex's research leads to new, advanced-feature mirrors that ultimately become standard products [Relation] cause [Effect] Growth will come from increased vehicle penetration",
    "gold": "[Cause] Gentex's research [Relation] cause [Effect] new, advanced-feature mirrors that ultimately become standard products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the near term, we think demand for crops will be strong, largely due to robust demand from China and tight global supplies.",
    "output": "[Cause] robust demand from China and tight global supplies [Relation] cause [Effect] demand for crops will be strong",
    "gold": "[Cause] robust demand from China and tight global supplies [Relation] enable [Effect] demand for crops will be strong",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "HPE's transformation to a profitability-focused firm could impact its ability to innovate and win customers as new technology trends are developed.",
    "output": "[Cause] HPE's transformation to a profitability-focused firm [Relation] cause [Effect] impact its ability to innovate and win customers",
    "gold": "[Cause] new technology trends are developed [Relation] cause [Effect] HPE's transformation to a profitability-focused firm could impact its ability to innovate and win customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "HPE's transformation to a profitability-focused firm could impact its ability to innovate and win customers as new technology trends are developed.",
    "output": "[Cause] HPE's transformation to a profitability-focused firm [Relation] cause [Effect] impact its ability to innovate and win customers",
    "gold": "[Cause] HPE's transformation to a profitability-focused firm [Relation] cause [Effect] impact its ability to innovate and win customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the retail environment continues to face headwinds that disproportionately affect lower-quality assets, we believe Kimco's efforts to improve the portfolio's overall quality are essential to providing value for shareholders.",
    "output": "[Cause] the retail environment continues to face headwinds that disproportionately affect lower-quality assets [Relation] cause [Effect] Kimco's efforts to improve the portfolio's overall quality are essential to providing value for shareholders",
    "gold": "[Cause] Kimco's efforts to improve the portfolio's overall quality [Relation] enable [Effect] providing value for shareholders",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Management attributes the elevated profitability to the South America's use of returnable glass containers, though we suspect oligopolistic pricing dynamics also play a role.",
    "output": "[Cause] the South America's use of returnable glass containers [Relation] cause [Effect] elevated profitability",
    "gold": "[Cause]  the South America's use of returnable glass containers [Relation] enable [Effect] elevated profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management attributes the elevated profitability to the South America's use of returnable glass containers, though we suspect oligopolistic pricing dynamics also play a role.",
    "output": "[Cause] oligopolistic pricing dynamics [Relation] cause [Effect] elevated profitability",
    "gold": "[Cause]  oligopolistic pricing dynamics [Relation] enable [Effect] elevated profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Often high-priced discretionary goods customers are wealthy, and sales can be tied to the movement of the stock market, so 2021 could be challenging if a virus-driven recession in the U.S.",
    "output": "[Cause] Often high-priced discretionary goods customers are wealthy, and sales can be tied to the movement of the stock market [Relation] cause [Effect] 2021 could be challenging if a virus-driven recession in the U.S",
    "gold": "[Cause]  a virus-driven recession in the U.S. [Relation] cause [Effect]  2021 could be challenging",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For mining equipment, switching costs are introduced as these machines have long lives with complex Farm & Heavy Construction Machineryservice agreements.",
    "output": "[Cause] these machines have long lives with complex Farm & Heavy Construction Machineryservice agreements [Relation] cause [Effect] switching costs are introduced",
    "gold": "[Cause] these machines have long lives with complex Farm & Heavy Construction Machineryservice agreements [Relation] cause [Effect] switching costs are introduced",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The new option of using white-box routers has not proliferated to scale of white-box switches because of the higher complexity of designing routers; we believe that brand-name routing equipment like Arista's products will continue to be desired routing solutions for a number of years.",
    "output": "[Cause] the higher complexity of designing routers [Relation] cause [Effect] The new option of using white-box routers has not proliferated to scale of white-box switches",
    "gold": "[Cause] the higher complexity of designing routers [Relation] cause [Effect] The new option of using white-box routers has not proliferated to scale of white-box switches",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Yum China's products are sourced almost all locally (except for certain herbs and spices), which helps to keep costs manageable, positions KFC and Pizza Hut as more \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"authentic\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" Chinese brands (despite their obvious Western roots), and strengthens the company's relationships with national and regional government officials.",
    "output": "[Cause] Yum China's products are sourced almost all locally (except for certain herbs and spices) [Relation] enable [Effect] helps to keep costs manageable, positions KFC and Pizza Hut as more \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"",
    "gold": "[Cause] Yum China's products are sourced almost all locally [Relation] enable [Effect] helps to keep costs manageable, positions KFC and Pizza Hut as more \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"authentic\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" Chinese brands",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Yum China's products are sourced almost all locally (except for certain herbs and spices), which helps to keep costs manageable, positions KFC and Pizza Hut as more \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"authentic\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" Chinese brands (despite their obvious Western roots), and strengthens the company's relationships with national and regional government officials.",
    "output": "[Cause] Yum China's products are sourced almost all locally [Relation] enable [Effect] strengthens the company's relationships with national and regional government officials",
    "gold": "[Cause] Yum China's products are sourced almost all locally [Relation] enable [Effect] strengthens the company's relationships with national and regional government officials",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The equipment providers aggressively price hardware and attempt to profit over the life of CSP contracts through services and manufacturing cost outs.",
    "output": "[Cause] services and manufacturing cost outs [Relation] enable [Effect] profit over the life of CSP contracts",
    "gold": "[Cause] services and manufacturing cost outs [Relation] enable [Effect] profit over the life of CSP contracts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While it saved shareholders from the dilution that would have followed if SocGen had raised capital at a discount to book value at the time, investors may well rue this decision in time.",
    "output": "[Cause] SocGen had raised capital at a discount to book value at the time [Relation] cause [Effect] it saved shareholders from the dilution that would have followed",
    "gold": "[Cause]  it saved shareholders from the dilution [Relation] cause [Effect] investors may well rue this decision in time",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, denial of service (DoS) attacks are possible if a bad actor simply wanted the thrill of striving to take down the Internet.",
    "output": "[Cause] a bad actor simply wanted the thrill of striving to take down the Internet [Relation] cause [Effect] denial of service (DoS) attacks are possible",
    "gold": "[Cause] a bad actor simply wanted the thrill of striving to take down the Internet [Relation] enable [Effect] denial of service (DoS) attacks are possible",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The shakeout from the corinavirus will likely result in permanent changes for restaurateurs, with customers favoring those brands that offer seamless omnichannel ordering, personalized marketing, and extreme convenience even as restrictions abate.",
    "output": "[Cause] The shakeout from the corinavirus [Relation] cause [Effect] permanent changes for restaurateurs",
    "gold": "[Cause] The shakeout from the corinavirus [Relation] cause [Effect] permanent changes for restaurateurs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The shakeout from the corinavirus will likely result in permanent changes for restaurateurs, with customers favoring those brands that offer seamless omnichannel ordering, personalized marketing, and extreme convenience even as restrictions abate.",
    "output": "[Cause] The shakeout from the corinavirus [Relation] cause [Effect] permanent changes for restaurateurs",
    "gold": "[Cause]  customers favoring those brands that offer seamless omnichannel ordering, personalized marketing, and extreme convenience even as restrictions abate [Relation] cause [Effect] permanent changes for restaurateurs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast assets under management growing at a rate of above 5% over the next five years from asset price appreciation, the shift to wealth management fee-based assets from commission-based assets, and assets related to recent acquisitions.",
    "output": "[Cause] asset price appreciation, the shift to wealth management fee-based assets from commission-based assets, and assets related to recent acquisitions [Relation] cause [Effect] assets under management growing at a rate of above 5% over the next five years",
    "gold": "[Cause]  asset price appreciation, the shift to wealth management fee-based assets from commission-based assets, and assets related to recent acquisitions [Relation] enable [Effect] assets under management growing at a rate of above 5% over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the severity of system failures that Ansys software could have prevented, we think that Ansys customers have significant resistance to switching from Ansys software.",
    "output": "[Cause] the severity of system failures that Ansys software could have prevented [Relation] cause [Effect] Ansys customers have significant resistance to switching from Ansys software",
    "gold": "[Cause] the severity of system failures that Ansys software could have prevented [Relation] cause [Effect] Ansys customers have significant resistance to switching from Ansys software",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There are some higher-quality minimum volume commitment contracts associated with the newly acquired Eureka assets, and we think the geographic location in the Marcellus region is exposed to some of the cheapest gas in the United States, providing a high level of confidence around future drilling activity.",
    "output": "[Cause] the geographic location in the Marcellus region is exposed to some of the cheapest gas in the United States [Relation] enable [Effect] a high level of confidence around future drilling activity",
    "gold": "[Cause] the geographic location in the Marcellus region is exposed to some of the cheapest gas in the United States [Relation] enable [Effect] a high level of confidence around future drilling activity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we expect Baxter's more constrained segments in 2020--medication delivery, pharmaceuticals, and advanced surgery--will grow in the mid- to high single digits compounded annually from the weak base year of 2020, as healthcare utilization trends normalize.",
    "output": "[Cause] healthcare utilization trends normalize [Relation] cause [Effect] Baxter's more constrained segments in 2020--medication delivery, pharmaceuticals, and advanced surgery--will grow in the mid- to high single digits compounded annually from the weak base year of 2020",
    "gold": "[Cause] Baxter's more constrained segments in 2020--medication delivery, pharmaceuticals, and advanced surgery--will grow in the mid- to high single digits compounded annually from the weak base year of 2020 [Relation] enable [Effect] healthcare utilization trends normalize",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The bank had actively steered away from the most risky mortgage products, and its business model was much less heavily reliant on capital markets and trading activities.",
    "output": "[Cause] The bank had actively steered away from the most risky mortgage products [Relation] cause [Effect] its business model was much less heavily reliant on capital markets and trading activities",
    "gold": "[Cause] The bank had actively steered away from the most risky mortgage products [Relation] cause [Effect]  its business model was much less heavily reliant on capital markets and trading activities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, a global seat vendor with support operations in low-cost countries enjoys significant barriers to entry from potentially new competitors in this rationally oligopolistic group of companies.",
    "output": "[Cause] a global seat vendor with support operations in low-cost countries [Relation] cause [Effect] enjoys significant barriers to entry from potentially new competitors in this rationally oligopolistic group of companies",
    "gold": "[Cause] a global seat vendor with support operations in low-cost countries [Relation] enable [Effect] enjoys significant barriers to entry from potentially new competitors in this rationally oligopolistic group of companies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Alliance Data Systems avoids bank capital restrictions by structuring itself as a parent company and keeping its LoyaltyOne assets and $2.8 billion of its debt above the two banks that it owns, Comenity Bank and Comenity Capital.",
    "output": "[Cause] structuring itself as a parent company and keeping its LoyaltyOne assets and $2.8 billion of its debt above the two banks that it owns, Comenity Bank and Comenity Capital [Relation] enable [Effect] Alliance Data Systems avoids bank capital restrictions",
    "gold": "[Cause] structuring itself as a parent company and keeping its LoyaltyOne assets and $2.8 billion of its debt above the two banks that it owns, Comenity Bank and Comenity Capital [Relation] cause [Effect] Alliance Data Systems avoids bank capital restrictions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The lure of the asset-management business for an investment bank is that it is asset-light and tends to generate a steady stream of fees, albeit more heavily correlated to equity and credit market returns.",
    "output": "[Cause] it is asset-light and tends to generate a steady stream of fees [Relation] cause [Effect] The lure of the asset-management business for an investment bank",
    "gold": "[Cause] it is asset-light and tends to generate a steady stream of fees [Relation] cause [Effect] The lure of the asset-management business for an investment bank",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have always liked Stryker's presence in the medical-surgical equipment area, as it offers a measure of stabilization and diminishes the impact of periodic economic downturns.",
    "output": "[Cause] it offers a measure of stabilization and diminishes the impact of periodic economic downturns [Relation] cause [Effect] We have always liked Stryker's presence in the medical-surgical equipment area",
    "gold": "[Cause] it offers a measure of stabilization and diminishes the impact of periodic economic downturns [Relation] cause [Effect] We have always liked Stryker's presence in the medical-surgical equipment area",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sales should decline in the first half due to limited department store foot traffic (Coty has minimal e-commerce exposure) and 15% exposure to travel retail, and realize significant growth in the second half as the pandemic-related global shutdown is lapped.",
    "output": "[Cause] the pandemic-related global shutdown is lapped [Relation] cause [Effect] realize significant growth in the second half",
    "gold": "[Cause] the pandemic-related global shutdown is lapped [Relation] cause [Effect] realize significant growth in the second half",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Stifel Financial, along with other investment banks, had relatively strong revenue in 2020, as economic uncertainty led to strong trading volumes and capital raising activity.",
    "output": "[Cause] economic uncertainty led to strong trading volumes and capital raising activity [Relation] cause [Effect] Stifel Financial, along with other investment banks, had relatively strong revenue in 2020",
    "gold": "[Cause] economic uncertainty [Relation] cause [Effect] strong trading volumes and capital raising activity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company's premium tools are considered some of the most durable and reliable in the market, illustrating its strong brand reputation.",
    "output": "[Cause] The company's premium tools are considered some of the most durable and reliable in the market [Relation] enable [Effect] its strong brand reputation",
    "gold": "[Cause] The company's premium tools are considered some of the most durable and reliable in the market [Relation] cause [Effect] its strong brand reputation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Considering that grueling schedule for an already very sick patient, additional commute time to and from the treatment facility remains a major point of concern when physicians and patients determine individual treatment plans.",
    "output": "[Cause] additional commute time to and from the treatment facility remains a major point of concern when physicians and patients determine individual treatment plans [Relation] cause [Effect] grueling schedule for an already very sick patient",
    "gold": "[Cause]  grueling schedule for an already very sick patient [Relation] cause [Effect]  additional commute time to and from the treatment facility remains a major point of concern",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The relative affordability of these other housing options keeps Essex's ability to set high initial rents and pass along rent increases in check.",
    "output": "[Cause] The relative affordability of these other housing options [Relation] enable [Effect] Essex's ability to set high initial rents and pass along rent increases in check",
    "gold": "[Cause] The relative affordability of these other housing options [Relation] enable [Effect] Essex's ability to set high initial rents and pass along rent increases in check",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In order to use its loyalty data effectively and add to its digital capabilities, Ulta spent $13.6 million to acquire two technology companies in 2018.",
    "output": "[Cause] Ulta spent $13.6 million to acquire two technology companies in 2018 [Relation] enable [Effect] use its loyalty data effectively and add to its digital capabilities",
    "gold": "[Cause] Ulta spent $13.6 million to acquire two technology companies in 2018 [Relation] enable [Effect] use its loyalty data effectively and add to its digital capabilities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Segment mix will be a headwind after the pandemic subsides (with Europe growing at a slightly brisker pace than North America), but volume leverage should also manifest as on-premises beer consumption recovers and management executes more meaningfully against its innovation pipeline.",
    "output": "[Cause] on-premises beer consumption recovers and management executes more meaningfully against its innovation pipeline [Relation] cause [Effect] volume leverage should also manifest",
    "gold": "[Cause] on-premises beer consumption recovers and management executes more meaningfully against its innovation pipeline [Relation] enable [Effect] volume leverage should also manifest",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, data security is a risk factor for brokers, in that a major cyberattack could disrupt truck-transaction visibility and service levels.",
    "output": "[Cause] a major cyberattack could disrupt truck-transaction visibility and service levels [Relation] cause [Effect] data security is a risk factor for brokers",
    "gold": "[Cause] a major cyberattack [Relation] prevent [Effect]  truck-transaction visibility and service levels.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect revenue to grow at an organic 5% annualized rate over our five-year forecast period as automaker customers focus on reducing vehicle emissions.",
    "output": "[Cause] automaker customers focus on reducing vehicle emissions [Relation] cause [Effect] revenue to grow at an organic 5% annualized rate over our five-year forecast period",
    "gold": "[Cause]  automaker customers focus on reducing vehicle emissions [Relation] enable [Effect] revenue to grow at an organic 5% annualized rate over our five-year forecast period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Kilroy's management underwent a capital recycling program that allowed it to successfully time the boom in technological employment occurring in the largest metropolitan areas along the West Coast.",
    "output": "[Cause] Kilroy's management underwent a capital recycling program [Relation] enable [Effect] successfully time the boom in technological employment occurring in the largest metropolitan areas along the West Coast",
    "gold": "[Cause] Kilroy's management underwent a capital recycling program [Relation] enable [Effect] successfully time the boom in technological employment occurring in the largest metropolitan areas along the West Coast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, due to COVID-19 and the bank's higher international and credit card exposures, we are currently assigning the bank a very high uncertainty rating.",
    "output": "[Cause] COVID-19 and the bank's higher international and credit card exposures [Relation] cause [Effect] we are currently assigning the bank a very high uncertainty rating",
    "gold": "[Cause] COVID-19 and the bank's higher international and credit card exposures [Relation] cause [Effect] we are currently assigning the bank a very high uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The risk of shelf space loss to competitors with greater capacity to compete on price is arguably the greatest risk to Carlsberg's cash flows and occurred in 2015 when Tesco removed the flagship brand from its shelves.",
    "output": "[Cause] Tesco removed the flagship brand from its shelves [Relation] cause [Effect] The risk of shelf space loss to competitors with greater capacity to compete on price is arguably the greatest risk to Carlsberg's cash flows",
    "gold": "[Cause] The risk of shelf space loss to competitors with greater capacity to compete on price [Relation] cause [Effect] the greatest risk to Carlsberg's cash flows",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although for 2020 we model close to flat revenues, primarily as a result of disruption to the exhibitions division, beyond this we believe a continuation of this trend is possible, particularly given the relative improvement of macroeconomic conditions in Europe over the last number of years, which constitutes over one quarter of RELX's revenue base. As such, we model organic revenue growth of 4.5% for the remainder of our explicit forecast period, rising from 4.3% in 2021 to 4.7% by 2024.",
    "output": "[Cause] Although for 2020 we model close to flat revenues, primarily as a result of disruption to the exhibitions division, beyond this we believe a continuation of this trend is possible, particularly given the relative improvement of macroeconomic conditions in Europe over the last number of years, which constitutes over one quarter of RELX's revenue base [Relation] cause [Effect] we model organic revenue growth of 4.5% for the remainder of our explicit forecast period, rising from 4.3% in 2021 to 4.7% by 2024",
    "gold": "[Cause] Although for 2020 we model close to flat revenues, primarily as a result of disruption to the exhibitions division, beyond this we believe a continuation of this trend is possible, particularly given the relative improvement of macroeconomic conditions in Europe over the last number of years, which constitutes over one quarter of RELX's revenue base [Relation] cause [Effect] we model organic revenue growth of 4.5% for the remainder of our explicit forecast period, rising from 4.3% in 2021 to 4.7% by 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Doctors may go as far as choosing their residencies based on the reputation of these machines, particularly CT scans, both in terms of quality and service reliability.",
    "output": "[Cause] the reputation of these machines, particularly CT scans, both in terms of quality and service reliability [Relation] cause [Effect] Doctors may go as far as choosing their residencies",
    "gold": "[Cause] the reputation of these machines, particularly CT scans, both in terms of quality and service reliability [Relation] cause [Effect] Doctors may go as far as choosing their residencies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The Canadian banks arguably have some of the most powerful distribution networks within Canada because their branch networks are spread out through all of Canada.",
    "output": "[Cause] their branch networks are spread out through all of Canada [Relation] cause [Effect] The Canadian banks arguably have some of the most powerful distribution networks within Canada",
    "gold": "[Cause] their branch networks are spread out through all of Canada [Relation] cause [Effect] The Canadian banks arguably have some of the most powerful distribution networks within Canada",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, we believe NXP and its peers benefit from switching costs that make it difficult to swap out analog chips for competing offerings once they are designed into a device.",
    "output": "[Cause] NXP and its peers benefit from switching costs [Relation] cause [Effect] it difficult to swap out analog chips for competing offerings once they are designed into a device",
    "gold": "[Cause] they are designed into a device [Relation] cause [Effect] it difficult to swap out analog chips for competing offerings",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The global restaurant industry has grown increasingly competitive, with rivalry among restaurant operators driving discounting and margin compression as firms compete for wallet share.",
    "output": "[Cause] rivalry among restaurant operators [Relation] cause [Effect] discounting and margin compression",
    "gold": "[Cause] firms compete for wallet share [Relation] cause [Effect] The global restaurant industry has grown increasingly competitive",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Historically, Royal touted a solid brand intangible asset, allowing it to capture solid yield growth, which averaged 4% in the five years ending 2019 and generated $209 per diem in 2019 (versus $179 for Carnival).",
    "output": "[Cause] Royal touted a solid brand intangible asset [Relation] enable [Effect] capture solid yield growth",
    "gold": "[Cause] Royal touted a solid brand intangible asset [Relation] enable [Effect] capture solid yield growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe General Mills possesses a competitive edge stemming from its strong brand equities, preferred status with its retail partners, which allows the firm to secure valuable shelf space, and a cost advantage.",
    "output": "[Cause] its strong brand equities, preferred status with its retail partners [Relation] enable [Effect] General Mills possesses a competitive edge",
    "gold": "[Cause] a competitive edge stemming from its strong brand equities, preferred status with its retail partners [Relation] enable [Effect] the firm to secure valuable shelf space, and a cost advantage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We feel that Adient's leading position in seating positions it well with new OEM entrants and possible new markets, such as autonomous vehicles made by Silicon Valley firms and by incumbent automakers.",
    "output": "[Cause] Adient's leading position in seating [Relation] enable [Effect] positions it well with new OEM entrants and possible new markets",
    "gold": "[Cause] new OEM entrants and possible new markets [Relation] enable [Effect]  Adient's leading position in seating",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While its medical imaging divestiture and structural changes historically constrained margins, we are confident that the firm's renewed strategic focus on improving its diagnostic product mix and life sciences business will sustain returns over cost of capital in the long run.",
    "output": "[Cause] improving its diagnostic product mix and life sciences business [Relation] enable [Effect] sustain returns over cost of capital in the long run",
    "gold": "[Cause] improving its diagnostic product mix and life sciences business [Relation] enable [Effect] sustain returns over cost of capital in the long run",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Such solutions have become increasingly important as the regulatory landscape has become highly complex and has resulted in an explosion in compliance-related head count.",
    "output": "[Cause] the regulatory landscape has become highly complex [Relation] cause [Effect] Such solutions have become increasingly important",
    "gold": "[Cause]  the regulatory landscape has become highly complex [Relation] cause [Effect] Such solutions have become increasingly important",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The USA stores plus AutoNation Express enable customers to do as much or as little of a transaction online as they want, which is why dealers now use the term omnichannel.",
    "output": "[Cause] The USA stores plus AutoNation Express enable customers to do as much or as little of a transaction online as they want [Relation] cause [Effect] dealers now use the term omnichannel",
    "gold": "[Cause] The USA stores plus AutoNation Express enable customers to do as much or as little of a transaction online as they want [Relation] cause [Effect] dealers now use the term omnichannel",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, our framework for assessing the strength of its brand portfolio is a bit different than for other beverage companies we cover because of the company's razor/blade business model.",
    "output": "[Cause] the company's razor/blade business model [Relation] cause [Effect] our framework for assessing the strength of its brand portfolio is a bit different than for other beverage companies we cover",
    "gold": "[Cause] the company's razor/blade business model [Relation] cause [Effect] our framework for assessing the strength of its brand portfolio is a bit different than for other beverage companies we cover",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect demand for uncoated free sheet, used in office paper and envelopes, to decline 3%-4% annually on average, accompanied by falling prices as higher-cost production bears the brunt of falling demand.",
    "output": "[Cause] demand for uncoated free sheet, used in office paper and envelopes, to decline 3%-4% annually on average, accompanied by falling prices [Relation] cause [Effect] higher-cost production bears the brunt of falling demand",
    "gold": "[Cause] falling prices as higher-cost production bears the brunt of falling demand [Relation] cause [Effect] demand for uncoated free sheet, used in office paper and envelopes, to decline 3%-4% annually on average",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With most competitors out of the way, CoStar spent several years focused on converting LoopNet data users to its CoStar suite platform.",
    "output": "[Cause] most competitors out of the way [Relation] cause [Effect] CoStar spent several years focused on converting LoopNet data users to its CoStar suite platform",
    "gold": "[Cause] most competitors out of the way [Relation] enable [Effect] CoStar spent several years focused on converting LoopNet data users to its CoStar suite platform",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Consequently, Nvidia has gained share at the expense of AMD as gamers have moved from mainstream graphics cards to performance and enthusiast segments.",
    "output": "[Cause] gamers have moved from mainstream graphics cards to performance and enthusiast segments [Relation] cause [Effect] Nvidia has gained share at the expense of AMD",
    "gold": "[Cause] gamers have moved from mainstream graphics cards to performance and enthusiast segments [Relation] enable [Effect]  Nvidia has gained share at the expense of AMD",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As product failure can be lethal or lead to highly embarrassing fiascos, we expect that the military would be unwilling to switch to an untested supplier.",
    "output": "[Cause] product failure can be lethal or lead to highly embarrassing fiascos [Relation] cause [Effect] the military would be unwilling to switch to an untested supplier",
    "gold": "[Cause] product failure can be lethal or lead to highly embarrassing fiascos [Relation] enable [Effect] the military would be unwilling to switch to an untested supplier",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think stepped-up presure could manifest as supply-demand imbalances dissipate and if the economic malaise persists over an extended horizon.",
    "output": "[Cause] supply-demand imbalances dissipate and if the economic malaise persists over an extended horizon [Relation] cause [Effect] stepped-up presure could manifest",
    "gold": "[Cause] supply-demand imbalances dissipate and if the economic malaise persists over an extended horizon [Relation] cause [Effect] stepped-up presure could manifest",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast the margin to hover around 52% through 2023, as the firm continues to ramp up operations in Europe, but we then project to gradually expand to over 56% by 2030.",
    "output": "[Cause] the firm continues to ramp up operations in Europe [Relation] cause [Effect] the margin to hover around 52% through 2023",
    "gold": "[Cause] the firm continues to ramp up operations in Europe [Relation] cause [Effect] the margin to hover around 52% through 2023",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Pandemic-induced stockpiling notwithstanding, services should continue to be the primary lever for ticket growth, as the firm has transformed many of its stores into hubs for various financial services, including utility bill payments, bank deposits, and remittance payments/receipts.",
    "output": "[Cause] the firm has transformed many of its stores into hubs for various financial services, including utility bill payments, bank deposits, and remittance payments/receipts [Relation] cause [Effect] services should continue to be the primary lever for ticket growth",
    "gold": "[Cause]  the firm has transformed many of its stores into hubs for various financial services, including utility bill payments, bank deposits, and remittance payments/receipts [Relation] cause [Effect] services should continue to be the primary lever for ticket growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We view the company as one of the few food-service operators that could evolve into a world-class consumer packaged goods company due to its ability to connect with grocery and mass-channel customers through licensed on-premises stores.",
    "output": "[Cause] its ability to connect with grocery and mass-channel customers through licensed on-premises stores [Relation] cause [Effect] We view the company as one of the few food-service operators that could evolve into a world-class consumer packaged goods company",
    "gold": "[Cause] its ability to connect with grocery and mass-channel customers through licensed on-premises stores [Relation] cause [Effect] We view the company as one of the few food-service operators that could evolve into a world-class consumer packaged goods company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lilly's diversified product portfolio means the company's top drugs represent only a moderate amount of total sales, with the largest drug, Trulicity, representing 18% of total sales, which sets up manageable cash flow declines as new products mitigate the generic competition.",
    "output": "[Cause] new products mitigate the generic competition [Relation] cause [Effect] sets up manageable cash flow declines",
    "gold": "[Cause]  sets up manageable cash flow declines [Relation] cause [Effect]  new products mitigate the generic competition",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Volume growth in early stage markets such as central and southern Africa, premiumization in its late stage developing markets such as Brazil, as well as a limited amount of pricing, should combine to drive mid-single-digit growth in the medium term.",
    "output": "[Cause] Volume growth in early stage markets such as central and southern Africa, premiumization in its late stage developing markets such as Brazil, as well as a limited amount of pricing [Relation] enable [Effect] combine to drive mid-single-digit growth in the medium term",
    "gold": "[Cause] Volume growth in early stage markets such as central and southern Africa, premiumization in its late stage developing markets such as Brazil, as well as a limited amount of pricing [Relation] enable [Effect] combine to drive mid-single-digit growth in the medium term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also model cable capital spending migrating back up toward 14% of revenue from 11% in 2020, as increased investment to extend fiber optic cable to more locations offsets the decline in set-top box spending.",
    "output": "[Cause] increased investment to extend fiber optic cable to more locations offsets the decline in set-top box spending [Relation] cause [Effect] cable capital spending migrating back up toward 14% of revenue from 11% in 2020",
    "gold": "[Cause] increased investment to extend fiber optic cable to more locations [Relation] prevent [Effect] the decline in set-top box spending",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our estimated compound revenue growth of around 1% over the next three years is driven by strong growth in assets under management from bullish markets and solid net new money inflows especially from Credit Suisse's Asian operations.",
    "output": "[Cause] strong growth in assets under management from bullish markets [Relation] cause [Effect] Our estimated compound revenue growth of around 1% over the next three years",
    "gold": "[Cause] strong growth in assets under management from bullish markets [Relation] cause [Effect] Our estimated compound revenue growth of around 1% over the next three years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite regulatory changes lifting capital requirements, the bank's large loan and deposit books continue to deliver robust net fee income, and with the increasing importance of scale to cope with changes in technology and regulation, Westpac should consistently earn returns above its 9% cost of equity through the cycle.",
    "output": "[Cause] regulatory changes lifting capital requirements [Relation] cause [Effect] the bank's large loan and deposit books continue to deliver robust net fee income, and with the increasing importance of scale to cope with changes in technology and regulation, Westpac should consistently earn returns above its 9% cost of equity through the cycle",
    "gold": "[Cause] the increasing importance of scale to cope with changes in technology and regulation [Relation] cause [Effect] Westpac should consistently earn returns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We still forecast selling, general, and administrative expense averaging 28% of total revenue (excluding reimbursement revenue) over the next 10 years (versus 32.6% in 2019), as the company leverages its growing room base.",
    "output": "[Cause] the company leverages its growing room base [Relation] cause [Effect] selling, general, and administrative expense averaging 28% of total revenue (excluding reimbursement revenue) over the next 10 years (versus 32.6% in 2019)",
    "gold": "[Cause]  the company leverages its growing room base [Relation] cause [Effect] We still forecast selling, general, and administrative expense averaging 28% of total revenue (excluding reimbursement revenue) over the next 10 years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Biosimilar pressure has not been as severe for biologics as for traditional pharmaceuticals, largely because manufacturing difficulties and the costs of clinical trials and product marketing have created high barriers to entry and limited the number of entrants.",
    "output": "[Cause] manufacturing difficulties and the costs of clinical trials and product marketing have created high barriers to entry and limited the number of entrants [Relation] cause [Effect] Biosimilar pressure has not been as severe for biologics as for traditional pharmaceuticals",
    "gold": "[Cause] manufacturing difficulties and the costs of clinical trials and product marketing have created high barriers to entry and limited the number of entrants [Relation] cause [Effect] Biosimilar pressure has not been as severe for biologics as for traditional pharmaceuticals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the variance in measurement across various brands, we also think that users prefer consistency in how their metrics are tracked and hence are inclined to stay with Garmin models.",
    "output": "[Cause] the variance in measurement across various brands [Relation] cause [Effect] users prefer consistency in how their metrics are tracked",
    "gold": "[Cause] users prefer consistency in how their metrics are tracked [Relation] cause [Effect]  inclined to stay with Garmin models",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the variance in measurement across various brands, we also think that users prefer consistency in how their metrics are tracked and hence are inclined to stay with Garmin models.",
    "output": "[Cause] users prefer consistency in how their metrics are tracked [Relation] cause [Effect] inclined to stay with Garmin models",
    "gold": "[Cause] Given the variance in measurement across various brands [Relation] cause [Effect] users prefer consistency in how their metrics are tracked",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because a significant portion of its revenue is based on the amount of lending transactions, Equifax is sensitive to credit conditions in the lending industry.",
    "output": "[Cause] a significant portion of its revenue is based on the amount of lending transactions [Relation] cause [Effect] Equifax is sensitive to credit conditions in the lending industry",
    "gold": "[Cause] a significant portion of its revenue is based on the amount of lending transactions [Relation] cause [Effect] Equifax is sensitive to credit conditions in the lending industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With at least half of Waddell & Reed's annual revenue derived from the management fees that are levied on its AUM, dramatic market movements, shifts in product mix and/or changes in fund flows can have a big impact on the firm's operating income and cash flows.",
    "output": "[Cause] dramatic market movements, shifts in product mix and/or changes in fund flows [Relation] cause [Effect] have a big impact on the firm's operating income and cash flows",
    "gold": "[Cause] With at least half of Waddell & Reed's annual revenue derived from the management fees that are levied on its AUM [Relation] cause [Effect] dramatic market movements, shifts in product mix and/or changes in fund flows can have a big impact on the firm's operating income and cash flows",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Echo is asset light, with a variable-cost business model, but its adjusted EBIT margin (calculated off net revenue) contracted in 2020 on more IT-related personnel, heavy IT infrastructure investment, and incentive comp.",
    "output": "[Cause] more IT-related personnel, heavy IT infrastructure investment, and incentive comp [Relation] cause [Effect] its adjusted EBIT margin (calculated off net revenue) contracted in 2020",
    "gold": "[Cause] more IT-related personnel, heavy IT infrastructure investment, and incentive comp [Relation] cause [Effect] its adjusted EBIT margin (calculated off net revenue) contracted in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "High-quality anchors, in line tenants, and entertainment options draw significant foot traffic to a retail center, which makes placing a store in that location attractive to other retailers as their store would benefit from the large number of people already heading to the shopping center.",
    "output": "[Cause] their store would benefit from the large number of people already heading to the shopping center [Relation] cause [Effect] placing a store in that location attractive to other retailers",
    "gold": "[Cause] High-quality anchors, in line tenants, and entertainment options draw significant foot traffic to a retail center [Relation] cause [Effect] makes placing a store in that location attractive to other retailers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With the government owning all three Chinese telephone companies, its objectives are not necessarily in line with those of minority shareholders.",
    "output": "[Cause] the government owning all three Chinese telephone companies [Relation] cause [Effect] its objectives are not necessarily in line with those of minority shareholders",
    "gold": "[Cause] the government owning all three Chinese telephone companies [Relation] cause [Effect]  its objectives are not necessarily in line with those of minority shareholders",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thanks to higher sales levels, ST's operating margins rose from operating losses in 2013 to 3% in 2016 to 14.5% in 2018.",
    "output": "[Cause] higher sales levels [Relation] cause [Effect] ST's operating margins rose from operating losses in 2013 to 3% in 2016 to 14.5% in 2018",
    "gold": "[Cause] higher sales levels [Relation] enable [Effect] ST's operating margins rose from operating losses in 2013 to 3% in 2016 to 14.5% in 2018",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the long-term, we anticipate Icon will grow revenue in the high single digits due to low-single-digit growth in biopharma research and development spending, as well as modest increases in outsourcing penetration.",
    "output": "[Cause] low-single-digit growth in biopharma research and development spending, as well as modest increases in outsourcing penetration [Relation] cause [Effect] Icon will grow revenue in the high single digits",
    "gold": "[Cause] low-single-digit growth in biopharma research and development spending, as well as modest increases in outsourcing penetration [Relation] cause [Effect]  Icon will grow revenue in the high single digits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the next two to three years, execution risks, integration costs, and a more leveraged balance sheet will diminish firm's financial flexibility.",
    "output": "[Cause] execution risks, integration costs, and a more leveraged balance sheet [Relation] cause [Effect] diminish firm's financial flexibility",
    "gold": "[Cause] execution risks, integration costs, and a more leveraged balance sheet [Relation] cause [Effect] diminish firm's financial flexibility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We estimate the companion animal segment should continue to deliver double-digit growth through 2024, which should drive 8% total revenue growth over the next five years.",
    "output": "[Cause] the companion animal segment should continue to deliver double-digit growth through 2024 [Relation] enable [Effect] drive 8% total revenue growth over the next five years",
    "gold": "[Cause] the companion animal segment should continue to deliver double-digit growth through 2024 [Relation] cause [Effect] drive 8% total revenue growth over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With respect to the former, we remain optimistic that management's investments in partner wages and benefits should blunt the impact of any federal wage increases, as we note that political will to enact a $15 minimum wage has markedly increased over the last few months.",
    "output": "[Cause] political will to enact a $15 minimum wage has markedly increased over the last few months [Relation] cause [Effect] management's investments in partner wages and benefits should blunt the impact of any federal wage increases",
    "gold": "[Cause]  political will to enact a $15 minimum wage has markedly increased over the last few months [Relation] cause [Effect] management's investments in partner wages and benefits should blunt the impact of any federal wage increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect long-term profits to recover from higher prices and lower unit production costs as Mosaic continues to transition production to lower-cost mines from its higher-cost operations.",
    "output": "[Cause] Mosaic continues to transition production to lower-cost mines from its higher-cost operations [Relation] cause [Effect] long-term profits to recover from higher prices and lower unit production costs",
    "gold": "[Cause] Mosaic continues to transition production to lower-cost mines from its higher-cost operations [Relation] enable [Effect] long-term profits to recover from higher prices and lower unit production costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These run rates are below KCS' historical run rate due to efforts to materially rationalize the locomotive fleet as part of its PSR implementation.",
    "output": "[Cause] efforts to materially rationalize the locomotive fleet as part of its PSR implementation [Relation] cause [Effect] These run rates are below KCS' historical run rate",
    "gold": "[Cause] efforts to materially rationalize the locomotive fleet as part of its PSR implementation [Relation] cause [Effect] These run rates are below KCS' historical run rate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The process is transparent, with the customer seeing the same information on a screen as the CarMax associate, which makes the process less adversarial.",
    "output": "[Cause] The process is transparent, with the customer seeing the same information on a screen as the CarMax associate [Relation] cause [Effect] makes the process less adversarial",
    "gold": "[Cause] The process is transparent, with the customer seeing the same information on a screen as the CarMax associate [Relation] cause [Effect] makes the process less adversarial",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The near term is likely to be ugly for Ambev, with the annihilation of the on-trade in the first quarter of 2020 driving a material decrease in volumes.",
    "output": "[Cause] the annihilation of the on-trade in the first quarter of 2020 driving a material decrease in volumes [Relation] cause [Effect] The near term is likely to be ugly for Ambev",
    "gold": "[Cause] the annihilation of the on-trade in the first quarter of 2020 driving a material decrease in volumes [Relation] cause [Effect] The near term is likely to be ugly for Ambev",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Second, by using a single, easy-to-use platform, Logix reduces training costs and maintenance expenses as well as makes it easier to communicate across different manufacturing cells.",
    "output": "[Cause] using a single, easy-to-use platform [Relation] enable [Effect] Logix reduces training costs and maintenance expenses",
    "gold": "[Cause] using a single, easy-to-use platform [Relation] enable [Effect] Logix reduces training costs and maintenance expenses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Second, by using a single, easy-to-use platform, Logix reduces training costs and maintenance expenses as well as makes it easier to communicate across different manufacturing cells.",
    "output": "[Cause] using a single, easy-to-use platform [Relation] enable [Effect] easier to communicate across different manufacturing cells",
    "gold": "[Cause] using a single, easy-to-use platform [Relation] enable [Effect] easier to communicate across different manufacturing cells",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since self-storage is not very human-capital-intensive and requires limited staff to operate effectively, existing facilities can be run very profitably, achieving net operating margins of over 70%.",
    "output": "[Cause] self-storage is not very human-capital-intensive and requires limited staff to operate effectively [Relation] cause [Effect] existing facilities can be run very profitably, achieving net operating margins of over 70%",
    "gold": "[Cause] self-storage is not very human-capital-intensive and requires limited staff to operate effectively [Relation] cause [Effect] existing facilities can be run very profitably, achieving net operating margins of over 70%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its leading tax solutions offer a hard value proposition via robotic process automation, which substantially lowers firms' overhead costs by automating routine activities and freeing employees to spend more time on value additive projects.",
    "output": "[Cause] robotic process automation [Relation] enable [Effect] robotic process automation",
    "gold": "[Cause] robotic process automation [Relation] cause [Effect] Its leading tax solutions offer a hard value proposition",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Its leading tax solutions offer a hard value proposition via robotic process automation, which substantially lowers firms' overhead costs by automating routine activities and freeing employees to spend more time on value additive projects.",
    "output": "[Cause] robotic process automation [Relation] enable [Effect] robotic process automation",
    "gold": "[Cause] automating routine activities and freeing employees to spend more time on value additive projects [Relation] enable [Effect] lowers firms' overhead costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Overall, we expect software integrity, which is currently margin-dilutive, to be a key driver as the business scales and becomes more mature over time.",
    "output": "[Cause] the business scales and becomes more mature over time [Relation] cause [Effect] software integrity, which is currently margin-dilutive, to be a key driver",
    "gold": "[Cause] the business scales and becomes more mature over time [Relation] cause [Effect]  software integrity, which is currently margin-dilutive, to be a key driver",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, we believe CooperVision's competitive advantage is sustained by a high switching cost environment on the consumer and physician side of contact lens sales.",
    "output": "[Cause] a high switching cost environment on the consumer and physician side of contact lens sales [Relation] enable [Effect] CooperVision's competitive advantage",
    "gold": "[Cause] a high switching cost environment on the consumer and physician side of contact lens sales [Relation] cause [Effect]  CooperVision's competitive advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, with growth having slowed in Japan, heated tobacco's most promising market, PMI, must now help deliver sustainable category growth if it is to reassure investors that its old algorithm is not now broken.",
    "output": "[Cause] growth having slowed in Japan [Relation] cause [Effect] PMI, must now help deliver sustainable category growth",
    "gold": "[Cause] growth having slowed in Japan [Relation] cause [Effect]  PMI, must now help deliver sustainable category growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, with growth having slowed in Japan, heated tobacco's most promising market, PMI, must now help deliver sustainable category growth if it is to reassure investors that its old algorithm is not now broken.",
    "output": "[Cause] PMI, must now help deliver sustainable category growth [Relation] enable [Effect] reassure investors that its old algorithm is not now broken",
    "gold": "[Cause]  PMI, must now help deliver sustainable category growth [Relation] enable [Effect]  reassure investors that its old algorithm is not now broken",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the complexity, designers are likely to prefer products with which they have built a high degree of familiarity and will hence speed up the design process.",
    "output": "[Cause] the complexity [Relation] cause [Effect] designers are likely to prefer products with which they have built a high degree of familiarity",
    "gold": "[Cause]  designers are likely to prefer products with which they have built a high degree of familiarity [Relation] cause [Effect]  speed up the design process",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the complexity, designers are likely to prefer products with which they have built a high degree of familiarity and will hence speed up the design process.",
    "output": "[Cause] designers are likely to prefer products with which they have built a high degree of familiarity [Relation] cause [Effect] speed up the design process",
    "gold": "[Cause]  the complexity [Relation] cause [Effect] designers are likely to prefer products with which they have built a high degree of familiarity and will hence speed up the design process",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Currently, DaVita depends on commercial insurance patients for virtually all of its profits, as it operates near break-even levels for Medicare patients and its international operations are only modestly profitable.",
    "output": "[Cause] it operates near break-even levels for Medicare patients and its international operations are only modestly profitable [Relation] cause [Effect] DaVita depends on commercial insurance patients for virtually all of its profits",
    "gold": "[Cause] it operates near break-even levels for Medicare patients and its international operations are only modestly profitable [Relation] cause [Effect] DaVita depends on commercial insurance patients for virtually all of its profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Western to pay of its debt with its cash reserves and billions in forecast cash flow, but still think the firm may have to lever up after paying down principal in 2023.",
    "output": "[Cause] paying down principal in 2023 [Relation] cause [Effect] the firm may have to lever up",
    "gold": "[Cause] paying down principal in 2023 [Relation] cause [Effect] the firm may have to lever up",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Western to pay of its debt with its cash reserves and billions in forecast cash flow, but still think the firm may have to lever up after paying down principal in 2023.",
    "output": "[Cause] paying down principal in 2023 [Relation] cause [Effect] the firm may have to lever up",
    "gold": "[Cause] its cash reserves and billions in forecast cash flow [Relation] enable [Effect]  Western to pay of its debt",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Having been principally focused on institutional investors for much of its existence, BlackRock has had to be concerned not only with investment performance, but also with the risks taken to generate those results, as most of its institutional clients come to the table with required levels of performance and volatility in their investment mandates. As a result, the company has developed tools to assess both security- and portfolio-level risks, which it not only uses internally but also offers to external clients for a fee.",
    "output": "[Cause] Having been principally focused on institutional investors for much of its existence, BlackRock has had to be concerned not only with investment performance, but also with the risks taken to generate those results, as most of its institutional clients come to the table with required levels of performance and volatility in their investment mandates [Relation] cause [Effect] the company has developed tools to assess both security- and portfolio-level risks, which it not only uses internally but also offers to external clients for a fee",
    "gold": "[Cause] Having been principally focused on institutional investors for much of its existence, BlackRock has had to be concerned not only with investment performance, but also with the risks taken to generate those results, as most of its institutional clients come to the table with required levels of performance and volatility in their investment mandates [Relation] cause [Effect] the company has developed tools to assess both security- and portfolio-level risks, which it not only uses internally but also offers to external clients for a fee",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect excess returns to diminish in the next decade as paper-to-linerboard conversions imply a looser supply and demand balance and increased price competition.",
    "output": "[Cause] paper-to-linerboard conversions imply a looser supply and demand balance and increased price competition [Relation] cause [Effect] excess returns to diminish in the next decade",
    "gold": "[Cause]  paper-to-linerboard conversions imply a looser supply and demand balance and increased price competition [Relation] cause [Effect] excess returns to diminish in the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect sales growth to continue at a high-single-digit pace, as consumer packaging increasingly favors ease-of-use applications and still over carbonated beverages.",
    "output": "[Cause] consumer packaging increasingly favors ease-of-use applications and still over carbonated beverages [Relation] cause [Effect] sales growth to continue at a high-single-digit pace",
    "gold": "[Cause] consumer packaging increasingly favors ease-of-use applications and still over carbonated beverages [Relation] cause [Effect] sales growth to continue at a high-single-digit pace",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the medium term, we think the historical growth rate of 5% will be difficult to achieve, given the structural pressures on pricing, so we assume a steady-state revenue growth rate of 3.4%.",
    "output": "[Cause] the structural pressures on pricing [Relation] cause [Effect] the historical growth rate of 5% will be difficult to achieve",
    "gold": "[Cause]  the historical growth rate of 5% will be difficult to achieve [Relation] cause [Effect]  we assume a steady-state revenue growth rate of 3.4%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Retail brokerages' cuts in trading prices in 2017 caused their stocks to fall by mid-single-digit percentage points, while the cuts in 2019 led to double-digit declines at many of the retail brokerages.",
    "output": "[Cause] Retail brokerages' cuts in trading prices in 2017 [Relation] cause [Effect] their stocks to fall by mid-single-digit percentage points",
    "gold": "[Cause] Retail brokerages' cuts in trading prices in 2017 [Relation] cause [Effect] their stocks to fall by mid-single-digit percentage points",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Retail brokerages' cuts in trading prices in 2017 caused their stocks to fall by mid-single-digit percentage points, while the cuts in 2019 led to double-digit declines at many of the retail brokerages.",
    "output": "[Cause] the cuts in 2019 [Relation] cause [Effect] double-digit declines at many of the retail brokerages",
    "gold": "[Cause] the cuts in 2019 [Relation] cause [Effect] double-digit declines at many of the retail brokerages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Key sensitivities, consistent with the remainder of our restaurant coverage, include growth in transaction volume, price increases, and new unit openings on the top line, with cost inflation, operating leverage, and tenancy costs playing into operating margins.",
    "output": "[Cause] growth in transaction volume, price increases, and new unit openings on the top line, with cost inflation, operating leverage, and tenancy costs [Relation] cause [Effect] operating margins",
    "gold": "[Cause] growth in transaction volume, price increases, and new unit openings on the top line, with cost inflation, operating leverage, and tenancy costs [Relation] cause [Effect] operating margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that the largest benefits of consolidated purchasing (already accounting for 63% of purchases) have been realized with future incremental margin benefits tapering down, while a shift toward greater online penetration will be attached with greater IT and logistical costs.",
    "output": "[Cause] a shift toward greater online penetration [Relation] enable [Effect] greater IT and logistical costs",
    "gold": "[Cause] a shift toward greater online penetration [Relation] enable [Effect] greater IT and logistical costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe fundamental shifts in networking technology forced Juniper to pivot its strategy toward software-defined networking alongside solutions that appease a broader customer base.",
    "output": "[Cause] fundamental shifts in networking technology [Relation] cause [Effect] Juniper to pivot its strategy toward software-defined networking alongside solutions that appease a broader customer base",
    "gold": "[Cause] fundamental shifts in networking technology [Relation] cause [Effect] Juniper to pivot its strategy toward software-defined networking alongside solutions that appease a broader customer base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the greater amount of competition, we think hyperscalers are likely to apply immense pricing pressure on suppliers for each refresh, creating bidding wars that erode economic profits.",
    "output": "[Cause] the greater amount of competition [Relation] cause [Effect] hyperscalers are likely to apply immense pricing pressure on suppliers for each refresh",
    "gold": "[Cause] the greater amount of competition [Relation] cause [Effect] hyperscalers are likely to apply immense pricing pressure on suppliers for each refresh",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the greater amount of competition, we think hyperscalers are likely to apply immense pricing pressure on suppliers for each refresh, creating bidding wars that erode economic profits.",
    "output": "[Cause] hyperscalers are likely to apply immense pricing pressure on suppliers for each refresh [Relation] cause [Effect] creating bidding wars that erode economic profits",
    "gold": "[Cause] hyperscalers are likely to apply immense pricing pressure on suppliers for each refresh [Relation] cause [Effect] creating bidding wars that erode economic profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Canadian regulation also makes it more difficult for bad credit to be issued in many ways, including mandatory insurance and standards on riskier mortgage loans, not having a GSE-like government-subsidized mortgage securitization market, and forcing banks to hold more of the risk on their own balance sheets.",
    "output": "[Cause] Canadian regulation [Relation] cause [Effect] it more difficult for bad credit to be issued in many ways",
    "gold": "[Cause] Canadian regulation [Relation] enable [Effect]  it more difficult for bad credit to be issued in many ways",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our valuation implies a 2022 price/earnings multiple of 23.5 times, though we don't believe this is especially meaningful as near-term earnings are skewed by abnormal earnings from the MAX and the pandemic.",
    "output": "[Cause] near-term earnings are skewed by abnormal earnings from the MAX and the pandemic [Relation] cause [Effect] We valuation implies a 2022 price/earnings multiple of 23.5 times, though we don't believe this is especially meaningful",
    "gold": "[Cause] abnormal earnings from the MAX and the pandemic [Relation] enable [Effect] near-term earnings are skewed",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although major revenue from this mirror is not expected for a few more years, we think it has potential to be in every vehicle in the developed world due to its superior function over a normal mirror.",
    "output": "[Cause] its superior function over a normal mirror [Relation] cause [Effect] it has potential to be in every vehicle in the developed world",
    "gold": "[Cause]  its superior function over a normal mirror [Relation] cause [Effect] it has potential to be in every vehicle in the developed world",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Adcetris' label expansion and approval of Padcev and Tukysa already provide healthy diversification, but Seagen's portfolio will continue to grow with pipeline success.",
    "output": "[Cause] Adcetris' label expansion and approval of Padcev and Tukysa [Relation] enable [Effect] provide healthy diversification",
    "gold": "[Cause] Adcetris' label expansion and approval of Padcev and Tukysa [Relation] enable [Effect]  provide healthy diversification",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Adcetris' label expansion and approval of Padcev and Tukysa already provide healthy diversification, but Seagen's portfolio will continue to grow with pipeline success.",
    "output": "[Cause] pipeline success [Relation] enable [Effect] Seagen's portfolio will continue to grow",
    "gold": "[Cause] pipeline success [Relation] enable [Effect] Seagen's portfolio will continue to grow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Bromine prices have begun to rise as increased demand for use in servers and automobile electronics is offset by a decline in demand from TVs, desktops, and laptops as well as lower demand for bromine used in oilfield completion fluids.",
    "output": "[Cause] increased demand for use in servers and automobile electronics is offset by a decline in demand from TVs, desktops, and laptops as well as lower demand for bromine used in oilfield completion fluids [Relation] cause [Effect] Bromine prices have begun to rise",
    "gold": "[Cause]  increased demand for use in servers and automobile electronics is offset by a decline in demand from TVs, desktops, and laptops as well as lower demand for bromine used in oilfield completion fluids [Relation] cause [Effect] Bromine prices have begun to rise",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe net interest income will remain under pressure in 2021, due to the effects of rate cuts, and we project rates staying low for years before net interest margins begin to normalize again in the final years of our forecast.",
    "output": "[Cause] the effects of rate cuts [Relation] cause [Effect] We believe net interest income will remain under pressure in 2021",
    "gold": "[Cause] the effects of rate cuts [Relation] cause [Effect] We believe net interest income will remain under pressure in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With 99% of 2020 total rooms under franchise and management contracts, the company depends heavily on its brand to attract unit growth from these third-party owners.",
    "output": "[Cause] 99% of 2020 total rooms under franchise and management contracts [Relation] cause [Effect] the company depends heavily on its brand to attract unit growth from these third-party owners",
    "gold": "[Cause] 99% of 2020 total rooms under franchise and management contracts [Relation] cause [Effect] the company depends heavily on its brand to attract unit growth from these third-party owners",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These efficiencies, and extraction of stranded costs after divesting Symantec, would increase GAAP operating margin into the mid-to-high 40% range in fiscal 2025.",
    "output": "[Cause] These efficiencies, and extraction of stranded costs after divesting Symantec [Relation] enable [Effect] increase GAAP operating margin into the mid-to-high 40% range in fiscal 2025",
    "gold": "[Cause] These efficiencies, and extraction of stranded costs after divesting Symantec [Relation] enable [Effect] increase GAAP operating margin into the mid-to-high 40% range in fiscal 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As of its IPO filing, Palantir had a small customer base of 125 institutions, so losing any key government or commercial customers, who have flexibility not to expand contracts with Palantir, could be overly damaging.",
    "output": "[Cause] its IPO filing [Relation] cause [Effect] Palantir had a small customer base of 125 institutions",
    "gold": "[Cause] of its IPO filing, Palantir had a small customer base of 125 institutions [Relation] cause [Effect] losing any key government or commercial customers, who have flexibility not to expand contracts with Palantir, could be overly damaging",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Weather is the biggest factor Polaris cannot control; sales of snowmobiles are correlated with the amount of snowfall generated in any given season, making segment volume more volatile than the others.",
    "output": "[Cause] sales of snowmobiles are correlated with the amount of snowfall generated in any given season [Relation] cause [Effect] segment volume more volatile than the others",
    "gold": "[Cause] sales of snowmobiles are correlated with the amount of snowfall generated in any given season, making segment volume more volatile than the others [Relation] cause [Effect] Weather is the biggest factor Polaris cannot control",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Weather is the biggest factor Polaris cannot control; sales of snowmobiles are correlated with the amount of snowfall generated in any given season, making segment volume more volatile than the others.",
    "output": "[Cause] sales of snowmobiles are correlated with the amount of snowfall generated in any given season [Relation] cause [Effect] segment volume more volatile than the others",
    "gold": "[Cause] sales of snowmobiles are correlated with the amount of snowfall generated in any given season [Relation] cause [Effect] segment volume more volatile than the others",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Online travel agencies like Expedia and Priceline provide travelers with constantly updated information about competing hotels while metasearch companies like TripAdvisor provide ratings and recommendations, allowing consumers to find the combination of hotel segment, brand, location, and price that best suites their tastes.",
    "output": "[Cause] Online travel agencies like Expedia and Priceline provide travelers with constantly updated information about competing hotels while metasearch companies like TripAdvisor provide ratings and recommendations [Relation] enable [Effect] consumers to find the combination of hotel segment, brand, location, and price that best suites their tastes",
    "gold": "[Cause] Online travel agencies like Expedia and Priceline provide travelers with constantly updated information about competing hotels while metasearch companies like TripAdvisor provide ratings and recommendations [Relation] enable [Effect] consumers to find the combination of hotel segment, brand, location, and price that best suites their tastes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Products are shipped to customers directly from suppliers or through the CastleGate fulfillment network. This has led to inventory turns that have handily lapped peer set inventory turns (Bed Bath, Williams-Sonoma, RH, Pier 1, Ethan Allen), which averaged a low-single-digit rate in their most recent fiscal years.",
    "output": "[Cause] Products are shipped to customers directly from suppliers or through the CastleGate fulfillment network [Relation] cause [Effect] inventory turns that have handily lapped peer set inventory turns (Bed Bath, Williams-Sonoma, RH, Pier 1, Ethan Allen), which averaged a low-single-digit rate in their most recent fiscal years",
    "gold": "[Cause] Products are shipped to customers directly from suppliers or through the CastleGate fulfillment network [Relation] cause [Effect] inventory turns that have handily lapped peer set inventory turns (Bed Bath, Williams-Sonoma, RH, Pier 1, Ethan Allen), which averaged a low-single-digit rate in their most recent fiscal years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At the same time, the bank must ensure appropriate risk management and lending standards or risk rising loan losses in the future, especially if house prices are falling.",
    "output": "[Cause] house prices are falling [Relation] cause [Effect] the bank must ensure appropriate risk management and lending standards or risk rising loan losses in the future",
    "gold": "[Cause] house prices are falling [Relation] cause [Effect] the bank must ensure appropriate risk management and lending standards or risk rising loan losses in the future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that Hostess supports its retail relationships with the significant amount of data it has amassed on consumer purchasing patterns for sweet baked goods, and we anticipate that it will continue to harness these insights to optimize category shelf space for its retail partners.",
    "output": "[Cause] Hostess supports its retail relationships with the significant amount of data it has amassed on consumer purchasing patterns for sweet baked goods [Relation] enable [Effect] it will continue to harness these insights to optimize category shelf space for its retail partners",
    "gold": "[Cause] the significant amount of data it has amassed on consumer purchasing patterns for sweet baked goods [Relation] enable [Effect] Hostess supports its retail relationships",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Crane generates healthy cash flows that allow it to reinvest capital in organic growth, driven by introductions of new and improved products as well as acquisitions.",
    "output": "[Cause] introductions of new and improved products as well as acquisitions [Relation] enable [Effect] Crane generates healthy cash flows that allow it to reinvest capital in organic growth",
    "gold": "[Cause] Crane generates healthy cash flows | introductions of new and improved products as well as acquisitions [Relation] enable [Effect] allow it to reinvest capital in organic growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Therefore, we believe that as the product mix offered by Intel shifts from mostly PC chips to more server and other non-PC chips, the firm will be able to continue leveraging its immense fabrication facility network.",
    "output": "[Cause] the product mix offered by Intel shifts from mostly PC chips to more server and other non-PC chips [Relation] enable [Effect] the firm will be able to continue leveraging its immense fabrication facility network",
    "gold": "[Cause] the product mix offered by Intel shifts from mostly PC chips to more server and other non-PC chips [Relation] cause [Effect] the firm will be able to continue leveraging its immense fabrication facility network",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Asbury's Clicklane tool raises the risk of an IT failure impacting the company more broadly than before, but for now we see that risk as low because Clicklane is not the company's sole means of doing business.",
    "output": "[Cause] Clicklane is not the company's sole means of doing business [Relation] cause [Effect] risk as low",
    "gold": "[Cause] Asbury's Clicklane tool [Relation] cause [Effect] the risk of an IT failure impacting the company more broadly than before",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Second, when Akamai's major customers pivoted away from it because they determined they could provide the same service for themselves, Akamai moved to better serve websites of nonmedia customers and developed first-rate security products that made its offering very valuable to nearly all of the world's biggest entities.",
    "output": "[Cause] developed first-rate security products [Relation] enable [Effect] its offering very valuable to nearly all of the world's biggest entities",
    "gold": "[Cause] better serve websites of nonmedia customers | developed first-rate security products [Relation] enable [Effect] offering very valuable to nearly all of the world's biggest entities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Malibu consistently releases new models with updated features across its brands, stimulating sales from both new and returning customers, which we posit has allowed Malibu to consistently capture pricing power.",
    "output": "[Cause] Malibu consistently releases new models with updated features across its brands, stimulating sales from both new and returning customers [Relation] enable [Effect] Malibu to consistently capture pricing power",
    "gold": "[Cause] Malibu consistently releases new models with updated features across its brands, stimulating sales from both new and returning customers [Relation] enable [Effect] Malibu to consistently capture pricing power",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Switching even one sensor would require at least a partial system redesign on behalf of the OEM/Tier 1, bringing with it both time and monetary costs to retrain personnel as well as potentially purchasing or relocating new heavy equipment.",
    "output": "[Cause] Switching even one sensor would require at least a partial system redesign on behalf of the OEM/Tier 1 [Relation] cause [Effect] both time and monetary costs to retrain personnel as well as potentially purchasing or relocating new heavy equipment",
    "gold": "[Cause] Switching even one sensor would require at least a partial system redesign on behalf of the OEM/Tier 1 [Relation] cause [Effect]  both time and monetary costs to retrain personnel as well as potentially purchasing or relocating new heavy equipment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the firm's small industrial end-market exposure will grow at below-nominal GDP rates due to structural disinflationary pressures in wind energy.",
    "output": "[Cause] structural disinflationary pressures in wind energy [Relation] cause [Effect] the firm's small industrial end-market exposure will grow at below-nominal GDP rates",
    "gold": "[Cause]  structural disinflationary pressures in wind energy [Relation] cause [Effect] the firm's small industrial end-market exposure will grow at below-nominal GDP rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, Neogen offers animal genomic services that we think stand out in the market, such as a proprietary cattle genetic trait database that should enable the company to develop unique genomic tests in the future.",
    "output": "[Cause] Neogen offers animal genomic services [Relation] enable [Effect] the company to develop unique genomic tests in the future",
    "gold": "[Cause] Neogen offers animal genomic services [Relation] enable [Effect] the company to develop unique genomic tests in the future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The burrito chain's unit development narrative remains compelling, with strong returns on investment driving our mid- to high-single-digit unit growth estimates.",
    "output": "[Cause] strong returns on investment [Relation] enable [Effect] our mid- to high-single-digit unit growth estimates",
    "gold": "[Cause] strong returns on investment driving our mid- to high-single-digit unit growth estimates [Relation] cause [Effect] The burrito chain's unit development narrative remains compelling",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm's debt load could also reduce strategic flexibility or create a headwind for cash flow if interest rates rise substantially.",
    "output": "[Cause] The firm's debt load [Relation] cause [Effect] reduce strategic flexibility or create a headwind for cash flow",
    "gold": "[Cause]  if interest rates rise substantially [Relation] enable [Effect] The firm's debt load could also reduce strategic flexibility or create a headwind for cash flow",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As cash flow coverage continued to drop for all skilled nursing assets, Ventas made the proactive move to spin-off the majority of its skilled nursing portfolio into a separate, pure SNF REIT called Continuing Care Properties (CCP).",
    "output": "[Cause] cash flow coverage continued to drop for all skilled nursing assets [Relation] cause [Effect] Ventas made the proactive move to spin-off the majority of its skilled nursing portfolio into a separate, pure SNF REIT called Continuing Care Properties (CCP)",
    "gold": "[Cause] cash flow coverage continued to drop for all skilled nursing assets [Relation] cause [Effect] Ventas made the proactive move to spin-off the majority of its skilled nursing portfolio into a separate, pure SNF REIT called Continuing Care Properties (CCP)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Once safety protocols prove successful, we expect Royal to see minimal pricing gains as it entices cruisers back onto the product, limiting near-term yield gains.",
    "output": "[Cause] it entices cruisers back onto the product, limiting near-term yield gains [Relation] cause [Effect] Once safety protocols prove successful, we expect Royal to see minimal pricing gains",
    "gold": "[Cause] it entices cruisers back onto the product, limiting near-term yield gains [Relation] cause [Effect] Once safety protocols prove successful, we expect Royal to see minimal pricing gains",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The most likely outcome of a transaction tax would be a sharp reduction in trading volume, which would also reduce demand for the company's market data products as more sophisticated trading firms left the market.",
    "output": "[Cause] more sophisticated trading firms left the market [Relation] cause [Effect] reduce demand for the company's market data products",
    "gold": "[Cause] The most likely outcome of a transaction tax [Relation] cause [Effect]  a sharp reduction in trading volume",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The most likely outcome of a transaction tax would be a sharp reduction in trading volume, which would also reduce demand for the company's market data products as more sophisticated trading firms left the market.",
    "output": "[Cause] more sophisticated trading firms left the market [Relation] cause [Effect] reduce demand for the company's market data products",
    "gold": "[Cause] more sophisticated trading firms left the market [Relation] cause [Effect] reduce demand for the company's market data products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "First, delivery represented more than 20% of system sales in 2019, and while this channel will not be sufficient to offset physical store traffic declines, near-term consumer adoption trends could lead to increased delivery order frequency as discretionary spending in the region recovers.",
    "output": "[Cause] near-term consumer adoption trends [Relation] cause [Effect] increased delivery order frequency",
    "gold": "[Cause] near-term consumer adoption trends [Relation] cause [Effect]  increased delivery order frequency",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "First, delivery represented more than 20% of system sales in 2019, and while this channel will not be sufficient to offset physical store traffic declines, near-term consumer adoption trends could lead to increased delivery order frequency as discretionary spending in the region recovers.",
    "output": "[Cause] near-term consumer adoption trends [Relation] cause [Effect] increased delivery order frequency",
    "gold": "[Cause] near-term consumer adoption trends [Relation] enable [Effect]  discretionary spending in the region recovers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast that growing subscription revenue and the product mix shift will lead to operating margins to expand into the low-30s.",
    "output": "[Cause] growing subscription revenue and the product mix shift [Relation] cause [Effect] operating margins to expand into the low-30s",
    "gold": "[Cause] growing subscription revenue and the product mix shift [Relation] cause [Effect] operating margins to expand into the low-30s",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, AT&amp;T's scope should enable it to improve advertising yields, but we also expect changing consumer demands will force an offsetting reduction in ad loads across the traditional television market.",
    "output": "[Cause] changing consumer demands [Relation] cause [Effect] an offsetting reduction in ad loads across the traditional television market",
    "gold": "[Cause] changing consumer demands [Relation] cause [Effect]  an offsetting reduction in ad loads across the traditional television market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the pandemic is a short-term impediment to its momentum, we believe Lululemon continues to benefit from a major fashion trend and will continue to achieve premium pricing due to the brand's popularity and the styling and quality of its products.",
    "output": "[Cause] the brand's popularity and the styling and quality of its products [Relation] cause [Effect] Lululemon continues to benefit from a major fashion trend and will continue to achieve premium pricing",
    "gold": "[Cause]  the brand's popularity and the styling and quality of its products [Relation] cause [Effect]  Lululemon continues to benefit from a major fashion trend and will continue to achieve premium pricing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that switching costs are relatively low in this area, and that scale and the resulting cost advantage are the dominant factor in terms of competitive positioning.",
    "output": "[Cause] switching costs are relatively low in this area [Relation] cause [Effect] competitive positioning",
    "gold": "[Cause] switching costs are relatively low in this area [Relation] cause [Effect] competitive positioning",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that switching costs are relatively low in this area, and that scale and the resulting cost advantage are the dominant factor in terms of competitive positioning.",
    "output": "[Cause] scale and the resulting cost advantage [Relation] enable [Effect] competitive positioning",
    "gold": "[Cause] scale and the resulting cost advantage [Relation] cause [Effect] competitive positioning",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of the solution's target market, we think there's inevitably more churn in the product than Oracle's other 2 Jun 2021 05:00, UTCsoftware solutions--due to the higher risks of such companies going out of business.",
    "output": "[Cause] the solution's target market [Relation] cause [Effect] there's inevitably more churn in the product than Oracle's other 2 Jun 2021 05:00, UTCsoftware solutions--due to the higher risks of such companies going out of business",
    "gold": "[Cause]  the solution's target market |  the higher risks of such companies going out of business [Relation] cause [Effect] there's inevitably more churn in the product than Oracle's other 2 Jun 2021 05:00, UTCsoftware solutions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Compared with historical norms, we expect Check Point to continue elevated expenditures of marketing (29% of revenue in 2025) and research (13% of 2025 sales) to win greenfield opportunities in the cloud-based and remote access security markets.",
    "output": "[Cause] Check Point to continue elevated expenditures of marketing (29% of revenue in 2025) and research (13% of 2025 sales) [Relation] enable [Effect] win greenfield opportunities in the cloud-based and remote access security markets",
    "gold": "[Cause] Check Point to continue elevated expenditures of marketing (29% of revenue in 2025) and research (13% of 2025 sales) [Relation] enable [Effect] win greenfield opportunities in the cloud-based and remote access security markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Product development and channel investments as a percentage of sales would also continuously rise in order to improve competitiveness, versus only a 7% top-line five-year CAGR.",
    "output": "[Cause] Product development and channel investments as a percentage of sales would also continuously rise [Relation] enable [Effect] improve competitiveness",
    "gold": "[Cause] Product development and channel investments as a percentage of sales would also continuously rise [Relation] enable [Effect] improve competitiveness",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fortunately, Agilent's diverse customer base offset most of those pressures, although the firm's overall growth did decelerate before rebounding in recent years along with stronger demand trends from its chemical and energy clients.",
    "output": "[Cause] Agilent's diverse customer base [Relation] prevent [Effect] most of those pressures",
    "gold": "[Cause] Agilent's diverse customer base [Relation] prevent [Effect]  most of those pressures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In total, Exxon has recorded over $24 billion in upstream impairments since 2016 as natural gas prices fell from the time of the deal.",
    "output": "[Cause] natural gas prices fell from the time of the deal [Relation] cause [Effect] Exxon has recorded over $24 billion in upstream impairments since 2016",
    "gold": "[Cause] natural gas prices fell from the time of the deal [Relation] cause [Effect] Exxon has recorded over $24 billion in upstream impairments since 2016",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Motorola seeks to further integrate itself through extra products that limit the benefits of using competitors' devices on Motorola infrastructure, such as encryption support, which does not interact effectively with competitor radios because of differences in the frequency of encryption key changes.",
    "output": "[Cause] differences in the frequency of encryption key changes [Relation] cause [Effect] does not interact effectively with competitor radios",
    "gold": "[Cause] differences in the frequency of encryption key changes [Relation] cause [Effect] does not interact effectively with competitor radios",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Motorola seeks to further integrate itself through extra products that limit the benefits of using competitors' devices on Motorola infrastructure, such as encryption support, which does not interact effectively with competitor radios because of differences in the frequency of encryption key changes.",
    "output": "[Cause] differences in the frequency of encryption key changes [Relation] cause [Effect] does not interact effectively with competitor radios",
    "gold": "[Cause] extra products [Relation] enable [Effect] Motorola seeks to further integrate itself",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Attempts to streamline production costs and a return to normalized luxury spending should drive operating margins toward 10% by the end of 2022.",
    "output": "[Cause] Attempts to streamline production costs and a return to normalized luxury spending [Relation] enable [Effect] drive operating margins toward 10% by the end of 2022",
    "gold": "[Cause] Attempts to streamline production costs and a return to normalized luxury spending [Relation] enable [Effect] drive operating margins toward 10% by the end of 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, the firm's expanding global footprint could help improve sourcing and distribution costs in the long term, improving profits.",
    "output": "[Cause] the firm's expanding global footprint [Relation] enable [Effect] improve sourcing and distribution costs in the long term",
    "gold": "[Cause] the firm's expanding global footprint [Relation] enable [Effect] improve sourcing and distribution costs in the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Longer term, as global demand for protein increases, Bunge is well positioned to benefit from higher sales volumes of oilseeds and derivatives.",
    "output": "[Cause] global demand for protein increases [Relation] cause [Effect] Bunge is well positioned to benefit from higher sales volumes of oilseeds and derivatives",
    "gold": "[Cause] global demand for protein increases [Relation] cause [Effect] Bunge is well positioned to benefit from higher sales volumes of oilseeds and derivatives",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The increase in our fair value estimate was due in large part to the improved outlook for OGE's investment in Enable, which will result in OGE owning Energy Transfer units later this year.",
    "output": "[Cause] the improved outlook for OGE's investment in Enable [Relation] cause [Effect] The increase in our fair value estimate",
    "gold": "[Cause] the improved outlook for OGE's investment in Enable [Relation] cause [Effect] The increase in our fair value estimate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The increase in our fair value estimate was due in large part to the improved outlook for OGE's investment in Enable, which will result in OGE owning Energy Transfer units later this year.",
    "output": "[Cause] The increase in our fair value estimate [Relation] cause [Effect] OGE owning Energy Transfer units later this year",
    "gold": "[Cause] The increase in our fair value estimate [Relation] cause [Effect] OGE owning Energy Transfer units later this year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The ability to outspend peers on research and development, combined with important insights into the requirements of educators and students, means that Pearson's intangible assets are a highly valuable resource.",
    "output": "[Cause] The ability to outspend peers on research and development, combined with important insights into the requirements of educators and students [Relation] cause [Effect] Pearson's intangible assets are a highly valuable resource",
    "gold": "[Cause] The ability to outspend peers on research and development, combined with important insights into the requirements of educators and students [Relation] enable [Effect]  Pearson's intangible assets are a highly valuable resource",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This means once Discover obtains a customer that revolves, it's likely to generate years of interest income on high-yielding balances.",
    "output": "[Cause] Discover obtains a customer that revolves [Relation] cause [Effect] generate years of interest income on high-yielding balances",
    "gold": "[Cause] Discover obtains a customer that revolves [Relation] enable [Effect] generate years of interest income on high-yielding balances",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For Socgen and BNP Paribas, it is also problematic to effectively compete for current account deposits where the dominant players are happy to run a very wide suboptimal branch network.",
    "output": "[Cause] the dominant players are happy to run a very wide suboptimal branch network [Relation] cause [Effect] it is also problematic to effectively compete for current account deposits",
    "gold": "[Cause] For Socgen and BNP Paribas, it is also problematic to effectively compete for current account deposits [Relation] enable [Effect]  the dominant players are happy to run a very wide suboptimal branch network",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given that millennials typically lack the necessary capital for a down payment, they will probably look to rent single-family homes when they move to the suburbs.",
    "output": "[Cause] millennials typically lack the necessary capital for a down payment [Relation] cause [Effect] they will probably look to rent single-family homes when they move to the suburbs",
    "gold": "[Cause] millennials typically lack the necessary capital for a down payment [Relation] cause [Effect] they will probably look to rent single-family homes when they move to the suburbs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of the significant installed base, and the fact that critical business processes are often centered around Microsoft Excel, we believe it would be highly disruptive for a company to pivot to an office suite other than Office 365.",
    "output": "[Cause] the significant installed base, and the fact that critical business processes are often centered around Microsoft Excel [Relation] cause [Effect] it would be highly disruptive for a company to pivot to an office suite other than Office 365",
    "gold": "[Cause] the significant installed base, and the fact that critical business processes are often centered around Microsoft Excel [Relation] cause [Effect] it would be highly disruptive for a company to pivot to an office suite other than Office 365",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Policy developments in Texas and other markets following a February 2021 winter storm could raise costs and squeeze margins for retail energy suppliers in the long run.",
    "output": "[Cause] Policy developments in Texas and other markets following a February 2021 winter storm [Relation] cause [Effect] raise costs and squeeze margins for retail energy suppliers in the long run",
    "gold": "[Cause] Policy developments in Texas and other markets following a February 2021 winter storm [Relation] cause [Effect] raise costs and squeeze margins for retail energy suppliers in the long run",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Warranties and prompt remediation can reduce reputational risk from such events, while insurance policies and contractor indemnification can limit financial losses.",
    "output": "[Cause] Warranties and prompt remediation [Relation] enable [Effect] reduce reputational risk from such events",
    "gold": "[Cause] Warranties and prompt remediation [Relation] enable [Effect] reduce reputational risk from such events",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Top-line performance should be tempered, however, by the firm's preponderant position in stagnating and declining categories, particularly at the center of the store, as well as product rationalization.",
    "output": "[Cause] the firm's preponderant position in stagnating and declining categories, particularly at the center of the store, as well as product rationalization [Relation] cause [Effect] Top-line performance should be tempered",
    "gold": "[Cause] firm's preponderant position | declining categories | particularly at the center of the store [Relation] cause [Effect] product rationalization.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect oil and gas capital expenditures to mount a resounding recovery from the coronavirus, as we don't think the pandemic will have a major long-run impact on oil demand.",
    "output": "[Cause] we don't think the pandemic will have a major long-run impact on oil demand [Relation] cause [Effect] oil and gas capital expenditures to mount a resounding recovery from the coronavirus",
    "gold": "[Cause] we don't think the pandemic will have a major long-run impact on oil demand [Relation] cause [Effect]  oil and gas capital expenditures to mount a resounding recovery from the coronavirus",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Intesa Sanpaolo is the best-run bank in Italy, but the weakness of the Italian banking system erodes whatever competitive advantage Intesa may have.",
    "output": "[Cause] the weakness of the Italian banking system [Relation] prevent [Effect] competitive advantage Intesa may have",
    "gold": "[Cause] the weakness of the Italian banking system [Relation] prevent [Effect] competitive advantage Intesa may have",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its operational deficiencies have been clearly laid out, as have the planned fixes, which boosts our confidence in the eventual success.",
    "output": "[Cause] Its operational deficiencies have been clearly laid out, as have the planned fixes [Relation] enable [Effect] boosts our confidence in the eventual success",
    "gold": "[Cause] Its operational deficiencies have been clearly laid out, as have the planned fixes [Relation] enable [Effect] boosts our confidence in the eventual success",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Global sourcing and preferential pricing from suppliers lower the company's cost of goods sold and promotes better gross profit margins than smaller distributors that lack such scale.",
    "output": "[Cause] Global sourcing and preferential pricing from suppliers [Relation] cause [Effect] lower the company's cost of goods sold",
    "gold": "[Cause] Global sourcing and preferential pricing from suppliers [Relation] cause [Effect] lower the company's cost of goods sold",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Global sourcing and preferential pricing from suppliers lower the company's cost of goods sold and promotes better gross profit margins than smaller distributors that lack such scale.",
    "output": "[Cause] Global sourcing and preferential pricing from suppliers [Relation] enable [Effect] promotes better gross profit margins than smaller distributors that lack such scale",
    "gold": "[Cause] Global sourcing and preferential pricing from suppliers [Relation] cause [Effect] promotes better gross profit margins than smaller distributors that lack such scale",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Citigroup is large enough to be considered a global systemically important bank and has the second-highest GSIB surcharge, at 3%, which supports the view that Citigroup faces higher regulatory requirements and costs than most.",
    "output": "[Cause] Citigroup is large enough [Relation] enable [Effect] be considered a global systemically important bank",
    "gold": "[Cause] Citigroup is large enough [Relation] cause [Effect]  be considered a global systemically important bank",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect RingCentral to report an average GAAP gross margin of 78% over our explicit forecast period, with both GAAP and non-GAAP gross margins expanding into the mid-80s as the business scales.",
    "output": "[Cause] the business scales [Relation] cause [Effect] both GAAP and non-GAAP gross margins expanding into the mid-80s",
    "gold": "[Cause] RingCentral to report an average GAAP gross margin of 78% over our explicit forecast period [Relation] enable [Effect] GAAP and non-GAAP gross margins expanding into the mid-80s as the business scales",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For example, in nurse demand forecasting and scheduling, the risk of mismanagement is high, as there are mandated nurse/patient ratios, strict patient data privacy regulations that demand compliance, and training all nurses and other clinicians on the scheduling system is a costly process.",
    "output": "[Cause] there are mandated nurse/patient ratios, strict patient data privacy regulations that demand compliance, and training all nurses and other clinicians on the scheduling system is a costly process [Relation] cause [Effect] in nurse demand forecasting and scheduling, the risk of mismanagement is high",
    "gold": "[Cause] there are mandated nurse/patient ratios, strict patient data privacy regulations that demand compliance, and training all nurses and other clinicians on the scheduling system is a costly process [Relation] cause [Effect] in nurse demand forecasting and scheduling, the risk of mismanagement is high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, it is the largest independent refiner that has all its facilities located in the midcontinent, Rockies, or Southwest region. As a result, it benefits from the difference in price between inland light crudes, particularly in the Permian, and other high-quality waterborne crude such as Brent.",
    "output": "[Cause] it is the largest independent refiner that has all its facilities located in the midcontinent, Rockies, or Southwest region [Relation] cause [Effect] it benefits from the difference in price between inland light crudes, particularly in the Permian, and other high-quality waterborne crude such as Brent",
    "gold": "[Cause] it is the largest independent refiner that has all its facilities located in the midcontinent, Rockies, or Southwest region [Relation] cause [Effect] it benefits from the difference in price between inland light crudes, particularly in the Permian, and other high-quality waterborne crude such as Brent",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of its low value-to-weight ratio, salt can only be shipped economically by land over very short distances--roughly 150 miles.",
    "output": "[Cause] its low value-to-weight ratio [Relation] cause [Effect] salt can only be shipped economically by land over very short distances--roughly 150 miles",
    "gold": "[Cause]  its low value-to-weight ratio [Relation] cause [Effect] salt can only be shipped economically by land over very short distances--roughly 150 miles",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It is also associated with the propensity among medical device makers to cross-license or settle these IP disagreements, so that all competitors can return to selling their generally differentiated products.",
    "output": "[Cause] It is also associated with the propensity among medical device makers to cross-license or settle these IP disagreements [Relation] cause [Effect] all competitors can return to selling their generally differentiated products",
    "gold": "[Cause] It is also associated with the propensity among medical device makers to cross-license or settle these IP disagreements [Relation] enable [Effect] all competitors can return to selling their generally differentiated products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the fortunes of the media business are looking up now that the big six customers no longer provide a major chunk of the firm's revenue and the move to Internet-based TV consumption continues, all while Akamai continues to operate the largest CDN.",
    "output": "[Cause] the big six customers no longer provide a major chunk of the firm's revenue and the move to Internet-based TV consumption continues [Relation] cause [Effect] the fortunes of the media business are looking up now",
    "gold": "[Cause] the big six customers no longer provide a major chunk of the firm's revenue and the move to Internet-based TV consumption continues [Relation] cause [Effect] the fortunes of the media business are looking up now",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While insulin accounts for 50% of Novo's top line, Novo's GLP-1 franchise is now 35% of sales and growing, as injectable GLP-1 analog Ozempic looks best-in-class over Lilly's Trulicity.",
    "output": "[Cause] injectable GLP-1 analog Ozempic looks best-in-class over Lilly's Trulicity [Relation] cause [Effect] Novo's GLP-1 franchise is now 35% of sales and growing",
    "gold": "[Cause] injectable GLP-1 analog Ozempic looks best-in-class over Lilly's Trulicity [Relation] enable [Effect]  Novo's GLP-1 franchise is now 35% of sales and growing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Mobile-only players find it difficult to compete in an environment where data usage grows exponentially since they miss their own fiber backhaul to sustain the demand.",
    "output": "[Cause] they miss their own fiber backhaul to sustain the demand [Relation] cause [Effect] Mobile-only players find it difficult to compete in an environment where data usage grows exponentially",
    "gold": "[Cause] they miss their own fiber backhaul to sustain the demand [Relation] cause [Effect] Mobile-only players find it difficult to compete in an environment where data usage grows exponentially",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "International expansion could help insulate the company from these fluctuations in the revenue base, as global consumer confidence levels don't necessarily move in tandem.",
    "output": "[Cause] global consumer confidence levels don't necessarily move in tandem [Relation] cause [Effect] International expansion could help insulate the company from these fluctuations in the revenue base",
    "gold": "[Cause] global consumer confidence levels don't necessarily move in tandem [Relation] cause [Effect] International expansion could help insulate the company from these fluctuations in the revenue base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For the most part, once a good working relationship has been established and pricing is competitive, clients generally have little motivation to switch providers, and hence opt to renew existing contracts.",
    "output": "[Cause] a good working relationship has been established and pricing is competitive [Relation] cause [Effect] clients generally have little motivation to switch providers",
    "gold": "[Cause] once a good working relationship has been established [Relation] cause [Effect] hence opt to renew existing contracts",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For the most part, once a good working relationship has been established and pricing is competitive, clients generally have little motivation to switch providers, and hence opt to renew existing contracts.",
    "output": "[Cause] clients generally have little motivation to switch providers [Relation] cause [Effect] opt to renew existing contracts",
    "gold": "[Cause] pricing is competitive [Relation] cause [Effect] hence opt to renew existing contracts",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For the most part, once a good working relationship has been established and pricing is competitive, clients generally have little motivation to switch providers, and hence opt to renew existing contracts.",
    "output": "[Cause] clients generally have little motivation to switch providers [Relation] cause [Effect] opt to renew existing contracts",
    "gold": "[Cause]  little motivation [Relation] enable [Effect] switch providers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Spreading infrastructure and inventory investments over a large sales base leads to a cost advantage over small peers, while service levels reinforce the firm's brand intangible asset in a way smaller rivals cannot duplicate.",
    "output": "[Cause] Spreading infrastructure and inventory investments over a large sales base [Relation] cause [Effect] a cost advantage over small peers",
    "gold": "[Cause] Spreading infrastructure and inventory investments over a large sales base [Relation] enable [Effect]  a cost advantage over small peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we expect the segment will continue gain leverage on its sales, we project that gross margins will continue to remain below 40% over the next five years. As a result, we expect the consolidated operating margin for Sirius XM will rebound from the low of 21% in 2019 but will take until 2024 to slightly exceed the 27% level of 2018.",
    "output": "[Cause] While we expect the segment will continue gain leverage on its sales, we project that gross margins will continue to remain below 40% over the next five years [Relation] cause [Effect] the consolidated operating margin for Sirius XM will rebound from the low of 21% in 2019 but will take until 2024 to slightly exceed the 27% level of 2018",
    "gold": "[Cause] While we expect the segment will continue gain leverage on its sales, we project that gross margins will continue to remain below 40% over the next five years [Relation] cause [Effect]  the consolidated operating margin for Sirius XM will rebound from the low of 21% in 2019 but will take until 2024 to slightly exceed the 27% level of 2018",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ultimately, we believe investors will continue to purchase ICE's proprietary equity data for the advantage it provides them, but this remains an area of contention.",
    "output": "[Cause] the advantage it provides them [Relation] cause [Effect] investors will continue to purchase ICE's proprietary equity data",
    "gold": "[Cause] the advantage it provides them [Relation] cause [Effect] investors will continue to purchase ICE's proprietary equity data",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We look for higher growth in operating expenses in 2021 as the economic recovery will allow the firm to more aggressively increase its R&D.",
    "output": "[Cause] the economic recovery will allow the firm to more aggressively increase its R&D [Relation] cause [Effect] We look for higher growth in operating expenses in 2021",
    "gold": "[Cause]  the economic recovery will allow the firm to more aggressively increase its R&D [Relation] cause [Effect] We look for higher growth in operating expenses in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This 8% annual midcycle revenue growth projection is below management's target of 10%-15% growth for the broader RF industry, as we remain conservative because we see pauses in smartphone unit sales from time to time.",
    "output": "[Cause] we remain conservative because we see pauses in smartphone unit sales from time to time [Relation] cause [Effect] This 8% annual midcycle revenue growth projection is below management's target of 10%-15% growth for the broader RF industry",
    "gold": "[Cause]  we remain conservative because we see pauses in smartphone unit sales from time to time [Relation] cause [Effect] This 8% annual midcycle revenue growth projection is below management's target of 10%-15% growth for the broader RF industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we expect sales to decline 17% in 2020 due to COVID-19, we think Adidas is executing well on the five-year plan it announced in 2015.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] sales to decline 17% in 2020",
    "gold": "[Cause]  COVID-19 [Relation] cause [Effect] sales to decline 17% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Agilent has significant incentive to innovate since new products contribute to positive mix benefits, although it enjoys like-for-like pricing power as well.",
    "output": "[Cause] new products contribute to positive mix benefits [Relation] cause [Effect] Agilent has significant incentive to innovate",
    "gold": "[Cause] new products contribute to positive mix benefits [Relation] cause [Effect] Agilent has significant incentive to innovate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The technology industry has become increasingly important to the Northern California and Seattle markets, as tech companies have driven job and income growth in those markets, creating substantial demand for apartments.",
    "output": "[Cause] tech companies have driven job and income growth in those markets, creating substantial demand for apartments [Relation] cause [Effect] The technology industry has become increasingly important to the Northern California and Seattle markets",
    "gold": "[Cause] tech companies have driven job and income growth in those markets, creating substantial demand for apartments [Relation] cause [Effect] The technology industry has become increasingly important to the Northern California and Seattle markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The bank is sensitive to the economic cycle, as it is affected by the health of its retailers and by the creditworthiness of its cardholders.",
    "output": "[Cause] it is affected by the health of its retailers and by the creditworthiness of its cardholders [Relation] cause [Effect] The bank is sensitive to the economic cycle",
    "gold": "[Cause] it is affected by the health of its retailers and by the creditworthiness of its cardholders [Relation] cause [Effect] The bank is sensitive to the economic cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Federal funding power has weakened over time, as improving vehicle mileage and inflation have diminished the buying power of the $0.18 per gallon gasoline tax, unchanged since 1993.",
    "output": "[Cause] improving vehicle mileage and inflation have diminished the buying power of the $0.18 per gallon gasoline tax, unchanged since 1993 [Relation] cause [Effect] Federal funding power has weakened over time",
    "gold": "[Cause] improving vehicle mileage and inflation have diminished the buying power of the $0.18 per gallon gasoline tax, unchanged since 1993 [Relation] cause [Effect] Federal funding power has weakened over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As FireEye's growth slows and it looks toward profitability, we expect well-established peers and fledgling best-of-breed upstarts to pressure the company's ability to win new and upgrade opportunities.",
    "output": "[Cause] FireEye's growth slows and it looks toward profitability [Relation] cause [Effect] we expect well-established peers and fledgling best-of-breed upstarts to pressure the company's ability to win new and upgrade opportunities",
    "gold": "[Cause] FireEye's growth slows and it looks toward profitability [Relation] cause [Effect] we expect well-established peers and fledgling best-of-breed upstarts to pressure the company's ability to win new and upgrade opportunities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our pretax cost of debt assumption is 5.8%, as we incorporate a normalized long-term real rate environment and normalized credit spreads.",
    "output": "[Cause] we incorporate a normalized long-term real rate environment and normalized credit spreads [Relation] cause [Effect] Our pretax cost of debt assumption is 5.8%",
    "gold": "[Cause] we incorporate a normalized long-term real rate environment and normalized credit spreads [Relation] cause [Effect] Our pretax cost of debt assumption is 5.8%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Critically, we assume that a COVID-19 vaccine will be well-distributed by mid-2021, which would allow a sharp rebound in air traffic.",
    "output": "[Cause] a COVID-19 vaccine will be well-distributed by mid-2021 [Relation] enable [Effect] a sharp rebound in air traffic",
    "gold": "[Cause] a COVID-19 vaccine will be well-distributed by mid-2021 [Relation] enable [Effect] a sharp rebound in air traffic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, recently in Iowa, two (out of the state's three) Medicaid plan providers left the state with critiques that the plans were not priced fairly, and subsequently, the state had to hike its rates substantially to entice new plan providers (including Centene) to enter and provide coverage.",
    "output": "[Cause] two (out of the state's three) Medicaid plan providers left the state with critiques that the plans were not priced fairly [Relation] cause [Effect] the state had to hike its rates substantially",
    "gold": "[Cause] the state had to hike its rates substantially [Relation] enable [Effect] entice new plan providers (including Centene) to enter and provide coverage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For example, recently in Iowa, two (out of the state's three) Medicaid plan providers left the state with critiques that the plans were not priced fairly, and subsequently, the state had to hike its rates substantially to entice new plan providers (including Centene) to enter and provide coverage.",
    "output": "[Cause] hike its rates substantially [Relation] enable [Effect] entice new plan providers (including Centene) to enter and provide coverage",
    "gold": "[Cause] two (out of the state's three) Medicaid plan providers left the state with critiques that the plans were not priced fairly [Relation] cause [Effect]  the state had to hike its rates substantially",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given that roughly 70% of global steel production is attributable to blast furnaces, Nucor's incremental DRI application has further entrenched the company as a low-cost steelmaker relative to its peers.",
    "output": "[Cause] roughly 70% of global steel production is attributable to blast furnaces [Relation] cause [Effect] Nucor's incremental DRI application has further entrenched the company as a low-cost steelmaker relative to its peers",
    "gold": "[Cause] roughly 70% of global steel production is attributable to blast furnaces | Nucor's incremental DRI application [Relation] enable [Effect] entrenched the company as a low-cost steelmaker relative to its peers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "CROs can be susceptible to impacts from large cancellations since it can be difficult to repurpose capacity for new projects.",
    "output": "[Cause] it can be difficult to repurpose capacity for new projects [Relation] cause [Effect] CROs can be susceptible to impacts from large cancellations",
    "gold": "[Cause]  it can be difficult to repurpose capacity for new projects [Relation] cause [Effect] CROs can be susceptible to impacts from large cancellations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The lack of production growth along with another reduction in capital spending plans means Petrobras is responding to the same market forces and investor concerns as its integrated peers and turning its focus on capital discipline.",
    "output": "[Cause] The lack of production growth along with another reduction in capital spending plans [Relation] cause [Effect] Petrobras is responding to the same market forces and investor concerns as its integrated peers and turning its focus on capital discipline",
    "gold": "[Cause] The lack of production growth along with another reduction in capital spending plans [Relation] cause [Effect]  Petrobras is responding to the same market forces and investor concerns as its integrated peers and turning its focus on capital discipline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of the third-party broker arrangement, there is little opportunity for SL Green to directly influence a leasing decision, and leasing terms tend to be specified to meet client needs and reflect current market rates coordinated through the brokers.",
    "output": "[Cause] the third-party broker arrangement [Relation] cause [Effect] there is little opportunity for SL Green to directly influence a leasing decision",
    "gold": "[Cause] the third-party broker arrangement [Relation] enable [Effect] there is little opportunity for SL Green to directly influence a leasing decision",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Once these licensed products are created, Nasdaq's counterparties face switching costs that make it difficult for them to stop working with Nasdaq.",
    "output": "[Cause] these licensed products are created [Relation] cause [Effect] Nasdaq's counterparties face switching costs",
    "gold": "[Cause] Nasdaq's counterparties face switching costs [Relation] cause [Effect] difficult for them to stop working with Nasdaq",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Once these licensed products are created, Nasdaq's counterparties face switching costs that make it difficult for them to stop working with Nasdaq.",
    "output": "[Cause] Nasdaq's counterparties face switching costs [Relation] cause [Effect] it difficult for them to stop working with Nasdaq",
    "gold": "[Cause] these licensed products are created [Relation] cause [Effect] Nasdaq's counterparties face switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After winning accounts, we believe the company can proliferate its software through organizations as firms look to extract insights by further stitching disparate data sources together.",
    "output": "[Cause] firms look to extract insights by further stitching disparate data sources together [Relation] cause [Effect] the company can proliferate its software through organizations",
    "gold": "[Cause] firms look to extract insights by further stitching disparate data sources together [Relation] cause [Effect]  the company can proliferate its software through organizations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thus, higher prices are justified by the perceived better nutritional value and quality afforded by branded products, the result of years of research and development investments and brand-building efforts.",
    "output": "[Cause] the perceived better nutritional value and quality afforded by branded products, the result of years of research and development investments and brand-building efforts [Relation] cause [Effect] higher prices are justified",
    "gold": "[Cause] higher prices are justified by the perceived better nutritional value and quality [Relation] cause [Effect] development investments and brand-building efforts",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Following Union Pacific's preliminary fourth-quarter earnings release, we are raising our fair value estimate to $169 per share from $163 as a result of increasing our margin assumptions for full-year 2020 as well as for the longer term.",
    "output": "[Cause] increasing our margin assumptions for full-year 2020 as well as for the longer term [Relation] cause [Effect] raising our fair value estimate to $169 per share from $163",
    "gold": "[Cause] increasing our margin assumptions for full-year 2020 as well as for the longer term [Relation] cause [Effect] raising our fair value estimate to $169 per share from $163",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, CXone adoption would represent full suite out of the gate, providing further improvement potential to gross margins as well as the bottom line.",
    "output": "[Cause] CXone adoption would represent full suite out of the gate [Relation] enable [Effect] further improvement potential to gross margins as well as the bottom line",
    "gold": "[Cause] CXone adoption would represent full suite out of the gate [Relation] enable [Effect] further improvement potential to gross margins as well as the bottom line",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Critical mission solutions, which accounted for 37% of sales in fiscal 2020, generates a relatively stable cash flow stream, as 95% of its revenue is recurring and roughly 75% is derived from long-term contracts (five-10 years) with government agencies.",
    "output": "[Cause] 95% of its revenue is recurring and roughly 75% is derived from long-term contracts (five-10 years) with government agencies [Relation] cause [Effect] generates a relatively stable cash flow stream",
    "gold": "[Cause] Critical mission solutions, which accounted for 37% of sales in fiscal 2020 [Relation] enable [Effect] a relatively stable cash flow stream",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Eaton's network of engineers and its ability to provide these types of highly engineered solutions only serves to reinforce the segment's switching costs.",
    "output": "[Cause] Eaton's network of engineers and its ability to provide these types of highly engineered solutions [Relation] enable [Effect] reinforce the segment's switching costs",
    "gold": "[Cause] Eaton's network of engineers and its ability to provide these types of highly engineered solutions [Relation] cause [Effect] reinforce the segment's switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Mattel still holds a top position in toy marketing thanks to its highly recognized brands, which we believe has allowed it to recapture key license relationships and win new ones (Despicable Me, Pixar), supporting positive sales growth.",
    "output": "[Cause] its highly recognized brands [Relation] enable [Effect] Mattel still holds a top position in toy marketing",
    "gold": "[Cause] its highly recognized brands [Relation] enable [Effect] Mattel still holds a top position in toy marketing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Mattel still holds a top position in toy marketing thanks to its highly recognized brands, which we believe has allowed it to recapture key license relationships and win new ones (Despicable Me, Pixar), supporting positive sales growth.",
    "output": "[Cause] Mattel still holds a top position in toy marketing [Relation] enable [Effect] it to recapture key license relationships and win new ones (Despicable Me, Pixar)",
    "gold": "[Cause] has allowed it to recapture key license relationships and win new ones (Despicable Me, Pixar) [Relation] enable [Effect] supporting positive sales growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Despite a light schedule, we expect non-GAAP revenue to be up strongly for fiscal 2021 due to increased gaming by consumers staying at home.",
    "output": "[Cause] increased gaming by consumers staying at home [Relation] cause [Effect] non-GAAP revenue to be up strongly for fiscal 2021",
    "gold": "[Cause]  increased gaming by consumers staying at home [Relation] enable [Effect]  non-GAAP revenue to be up strongly for fiscal 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, it faces intense competition and has a (mostly) variable cost structure that may limit Spotify's future operating leverage and profitability. Thus, we do not have sufficient confidence that it will generate excess returns on capital over the next 10 years.",
    "output": "[Cause] it faces intense competition and has a (mostly) variable cost structure that may limit Spotify's future operating leverage and profitability [Relation] cause [Effect] we do not have sufficient confidence that it will generate excess returns on capital over the next 10 years",
    "gold": "[Cause] it faces intense competition and has a (mostly) variable cost structure that may limit Spotify's future operating leverage and profitability [Relation] cause [Effect] we do not have sufficient confidence that it will generate excess returns on capital over the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Based in large part on the dividend increase, we increased ASB's 2021 EPS contribution by $0.05, to $0.69, resulting in our consolidated EPS estimate increasing to $1.93 from $1.88.",
    "output": "[Cause] large part on the dividend increase [Relation] cause [Effect] we increased ASB's 2021 EPS contribution by $0.05, to $0.69",
    "gold": "[Cause] large part on the dividend increase [Relation] cause [Effect] we increased ASB's 2021 EPS contribution by $0.05, to $0.69",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Based in large part on the dividend increase, we increased ASB's 2021 EPS contribution by $0.05, to $0.69, resulting in our consolidated EPS estimate increasing to $1.93 from $1.88.",
    "output": "[Cause] we increased ASB's 2021 EPS contribution by $0.05, to $0.69 [Relation] cause [Effect] our consolidated EPS estimate increasing to $1.93 from $1.88",
    "gold": "[Cause] large part on the dividend increase [Relation] cause [Effect] resulting in our consolidated EPS estimate increasing to $1.93 from $1.88",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because much of the growth in agricultural equipment sales will come from emerging economies, Agco's presence in Asia, Africa, and Latin America bodes well for the company.",
    "output": "[Cause] much of the growth in agricultural equipment sales will come from emerging economies [Relation] cause [Effect] Agco's presence in Asia, Africa, and Latin America bodes well for the company",
    "gold": "[Cause] much of the growth in agricultural equipment sales will come from emerging economies [Relation] cause [Effect] Agco's presence in Asia, Africa, and Latin America bodes well for the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The coronavirus pandemic resulted in a sharp increase in credit cost in fiscal 2020 but this is normalizing in 2021.",
    "output": "[Cause] The coronavirus pandemic [Relation] cause [Effect] a sharp increase in credit cost in fiscal 2020",
    "gold": "[Cause] The coronavirus pandemic [Relation] cause [Effect]  a sharp increase in credit cost in fiscal 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Eaton's engineers came up with a design that is modular, which streamlines the installation process but also lowers the risk of electrical hazards and withstands corrosion, with a useful life of up to 40 years. These types of solutions, which are protected by patents and other intellectual property, allow Eaton to price its solutions at a premium to the rest of the market.",
    "output": "[Cause] Eaton's engineers came up with a design that is modular, which streamlines the installation process but also lowers the risk of electrical hazards and withstands corrosion, with a useful life of up to 40 years [Relation] enable [Effect] Eaton to price its solutions at a premium to the rest of the market",
    "gold": "[Cause] Eaton's engineers came up with a design that is modular, which streamlines the installation process but also lowers the risk of electrical hazards and withstands corrosion, with a useful life of up to 40 years [Relation] enable [Effect] Eaton to price its solutions at a premium to the rest of the market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Following a challenging 2020 due to the COVID-19 pandemic, we project roughly 6.5% average annual revenue growth from 2021 through 2025, fueled by high-single-digit growth in the measurement and control solutions segment.",
    "output": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] Following a challenging 2020",
    "gold": "[Cause] Following a challenging 2020 due to the COVID-19 pandemic [Relation] cause [Effect]  we project roughly 6.5% average annual revenue growth from 2021 through 2025",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Church & Dwight is much smaller than its top competitors (for the most recently ended fiscal year, Church & Dwight reported revenue of $4.9 billion, compared with Procter & Gamble's $71 billion) with less resources to spend on research and development and advertising and marketing.",
    "output": "[Cause] less resources to spend on research and development and advertising and marketing [Relation] cause [Effect] Church & Dwight is much smaller than its top competitors",
    "gold": "[Cause] Church & Dwight is much smaller than its top competitors [Relation] cause [Effect]  less resources to spend on research and development and advertising and marketing",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While organic sales should keep up with their respective markets, we expect content wins in automotive and commercial transport markets, and strategic acquisitions will keep top-line growth strong.",
    "output": "[Cause] content wins in automotive and commercial transport markets, and strategic acquisitions [Relation] enable [Effect] keep top-line growth strong",
    "gold": "[Cause] organic sales should keep up with their respective markets [Relation] enable [Effect] content wins in automotive and commercial transport markets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company has significant customer concentration with Apple (51% of fiscal 2019 revenue), and it would be a damaging blow to the firm if it were to ever miss out on a future iPhone design cycle.",
    "output": "[Cause] The company has significant customer concentration with Apple (51% of fiscal 2019 revenue) [Relation] cause [Effect] it would be a damaging blow to the firm if it were to ever miss out on a future iPhone design cycle",
    "gold": "[Cause] The company has significant customer concentration with Apple (51% of fiscal 2019 revenue) [Relation] cause [Effect]  it would be a damaging blow to the firm if it were to ever miss out on a future iPhone design cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its current project backlog gives us good sales visibility for the next two years, but bookings will have to pick up in 2021 and 2022 to justify another round of production capacity expansion.",
    "output": "[Cause] Its current project backlog [Relation] enable [Effect] good sales visibility for the next two years",
    "gold": "[Cause] Its current project backlog gives us good sales visibility for the next two years [Relation] cause [Effect] another round of production capacity expansion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the U.K., the 2013 implementation of the Retail Distribution Review has shaken up retail intermediary distribution by banning trailer fees, which has led to a greater focus on fees and performance, and in some cases led to the merger of manufacturing and distribution assets.",
    "output": "[Cause] the 2013 implementation of the Retail Distribution Review has shaken up retail intermediary distribution by banning trailer fees [Relation] cause [Effect] a greater focus on fees and performance, and in some cases led to the merger of manufacturing and distribution assets",
    "gold": "[Cause] the 2013 implementation of the Retail Distribution Review has shaken up retail intermediary distribution by banning trailer fees [Relation] cause [Effect] a greater focus on fees and performance, and in some cases led to the merger of manufacturing and distribution assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Enterprises can be slow to migrate to the cloud, given the greater degree of complexity involved in modifying large-scale operations.",
    "output": "[Cause] the greater degree of complexity involved in modifying large-scale operations [Relation] cause [Effect] Enterprises can be slow to migrate to the cloud",
    "gold": "[Cause]  the greater degree of complexity involved in modifying large-scale operations [Relation] cause [Effect] Enterprises can be slow to migrate to the cloud",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And it intends to spend no more than 70%-80% of cash flows under any circumstances, which means any windfall during periods of higher prices will be returned to shareholders rather than plowed back into new drilling.",
    "output": "[Cause] it intends to spend no more than 70%-80% of cash flows under any circumstances [Relation] cause [Effect] any windfall during periods of higher prices will be returned to shareholders rather than plowed back into new drilling",
    "gold": "[Cause] it intends to spend no more than 70%-80% of cash flows under any circumstances [Relation] cause [Effect] any windfall during periods of higher prices will be returned to shareholders rather than plowed back into new drilling",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate some margin compression in the medium term, leading to a normalized operating margin of 11.5%, below the previous five-year average of 12.6%.",
    "output": "[Cause] some margin compression in the medium term [Relation] cause [Effect] a normalized operating margin of 11.5%, below the previous five-year average of 12.6%",
    "gold": "[Cause] some margin compression in the medium term [Relation] cause [Effect] a normalized operating margin of 11.5%, below the previous five-year average of 12.6%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have a medium level of uncertainty on Steris, as medical devices need to be sterilized regardless of economic conditions.",
    "output": "[Cause] medical devices need to be sterilized regardless of economic conditions [Relation] cause [Effect] We have a medium level of uncertainty on Steris",
    "gold": "[Cause] medical devices need to be sterilized regardless of economic conditions [Relation] cause [Effect] We have a medium level of uncertainty on Steris",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Large, long-lived, and low-cost operations (both capital and operating) are the litmus test for a sustainable competitive advantage in the highly cyclical mining industry.",
    "output": "[Cause] Large, long-lived, and low-cost operations [Relation] enable [Effect] a sustainable competitive advantage in the highly cyclical mining industry",
    "gold": "[Cause] Large, long-lived, and low-cost operations [Relation] cause [Effect] a sustainable competitive advantage in the highly cyclical mining industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe these concessions are likely to be renewed or extended for these operators, as Sands and other operators have invested meaningful capital and have helped to positively develop the Macao economy.",
    "output": "[Cause] Sands and other operators have invested meaningful capital and have helped to positively develop the Macao economy [Relation] cause [Effect] these concessions are likely to be renewed or extended for these operators",
    "gold": "[Cause] Sands and other operators have invested meaningful capital and have helped to positively develop the Macao economy [Relation] cause [Effect] these concessions are likely to be renewed or extended for these operators",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We originally expected UP's OR to deteriorate in 2020 on lost leverage from plummeting carloads, but the firm has been quickly rightsizing head count and assets while continuing to generate PSR-related efficiency gains.",
    "output": "[Cause] lost leverage from plummeting carloads [Relation] cause [Effect] UP's OR to deteriorate in 2020",
    "gold": "[Cause]  lost leverage from plummeting carloads [Relation] cause [Effect] UP's OR to deteriorate in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While salt prices have historically outpaced inflation, we forecast prices to decline by a mid-single-digit level in 2021 amid a milder 2020 winter, which led to falling prices.",
    "output": "[Cause] a milder 2020 winter [Relation] cause [Effect] falling prices",
    "gold": "[Cause] a milder 2020 winter [Relation] cause [Effect] salt prices | to decline by a mid-single-digit level in 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With pharmaceutical firms spending many millions of dollars over a number of years to bring a drug to market, the cost savings associated with a cheaper dispensing device or vial stopper are hard to justify in failure-intolerant applications.",
    "output": "[Cause] pharmaceutical firms spending many millions of dollars over a number of years to bring a drug to market [Relation] cause [Effect] the cost savings associated with a cheaper dispensing device or vial stopper are hard to justify in failure-intolerant applications",
    "gold": "[Cause]  pharmaceutical firms spending many millions of dollars over a number of years to bring a drug to market [Relation] cause [Effect] the cost savings associated with a cheaper dispensing device or vial stopper are hard to justify in failure-intolerant applications",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although cost synergies from the acquisition appear to have helped the company maintain its margins, the pandemic has resulted in a meaningful revenue decline.",
    "output": "[Cause] cost synergies from the acquisition [Relation] enable [Effect] the company maintain its margins",
    "gold": "[Cause]  cost synergies from the acquisition [Relation] enable [Effect] the company maintain its margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although cost synergies from the acquisition appear to have helped the company maintain its margins, the pandemic has resulted in a meaningful revenue decline.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] a meaningful revenue decline",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] a meaningful revenue decline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Biopharma consolidation could result in periods of disruption as a newly merged company may deprioritize some early-stage candidates or freeze trials while weighing integration strategy.",
    "output": "[Cause] Biopharma consolidation [Relation] cause [Effect] periods of disruption",
    "gold": "[Cause] as a newly merged company may deprioritize some early-stage candidates or freeze trials while weighing integration strategy [Relation] cause [Effect] Biopharma consolidation could result in periods of disruption",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We do not believe Macy's e-commerce contributes to the strength of its brand, as we do not view it as additive to sales.",
    "output": "[Cause] we do not view it as additive to sales [Relation] cause [Effect] We do not believe Macy's e-commerce contributes to the strength of its brand",
    "gold": "[Cause] we do not view it as additive to sales [Relation] cause [Effect] We do not believe Macy's e-commerce contributes to the strength of its brand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The coronavirus pandemic prompted consumers to stock their pantries with familiar brands (like those in Campbell's fold) as shelter-in-place mandates took hold, providing a jolt to sales across the industry.",
    "output": "[Cause] shelter-in-place mandates took hold [Relation] cause [Effect] consumers to stock their pantries with familiar brands",
    "gold": "[Cause] The coronavirus pandemic [Relation] cause [Effect] consumers to stock their pantries with familiar brands (like those in Campbell's fold) as shelter-in-place mandates took hold,",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The coronavirus pandemic prompted consumers to stock their pantries with familiar brands (like those in Campbell's fold) as shelter-in-place mandates took hold, providing a jolt to sales across the industry.",
    "output": "[Cause] shelter-in-place mandates took hold [Relation] cause [Effect] consumers to stock their pantries with familiar brands",
    "gold": "[Cause] consumers to stock their pantries with familiar brands (like those in Campbell's fold) as shelter-in-place mandates took hold, [Relation] cause [Effect] providing a jolt to sales across the industry",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These factors lead us to assign a medium uncertainty rating, given LKQ's ability to mitigate each of the risks it faces.",
    "output": "[Cause] LKQ's ability to mitigate each of the risks it faces [Relation] cause [Effect] assign a medium uncertainty rating",
    "gold": "[Cause]  LKQ's ability to mitigate each of the risks it faces [Relation] cause [Effect] assign a medium uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the broader assortment contributes to Kroger's greater sales productivity, at around $680 in sales per supermarket square foot versus Sprouts' roughly $600 in fiscal 2019.",
    "output": "[Cause] the broader assortment [Relation] enable [Effect] Kroger's greater sales productivity",
    "gold": "[Cause]  the broader assortment [Relation] enable [Effect] Kroger's greater sales productivity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A confluence of factors has contributed to Lennox's improved profitability, including a shift toward lower-cost Mexican manufacturing and Asian product sourcing, material cost reductions through product redesigns, favorable mix shift to higher-end products, and fixed-cost leverage on volume gains.",
    "output": "[Cause] A confluence of factors [Relation] cause [Effect] Lennox's improved profitability",
    "gold": "[Cause] a shift toward lower-cost Mexican manufacturing and Asian product sourcing, material cost reductions through product redesigns, favorable mix shift to higher-end products, and fixed-cost leverage on volume gains [Relation] enable [Effect] Lennox's improved profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Investments in a new e-commerce platform should help KFC to remain relevant in a world of increasing consumer expectations, defending the brand's position as consumers demand omnichannel ordering capabilities, customization, and loyalty perks at the speed of want.",
    "output": "[Cause] Investments in a new e-commerce platform [Relation] enable [Effect] defending the brand's position",
    "gold": "[Cause] consumers demand omnichannel ordering capabilities, customization, and loyalty perks at the speed of want [Relation] cause [Effect] defending the brand's position",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "NICE CXOne provides an omnichannel customer service solution that provides both contact center infrastructure and WFO/WEM solutions to improve call center efficiency.",
    "output": "[Cause] provides both contact center infrastructure and WFO/WEM solutions [Relation] enable [Effect] improve call center efficiency",
    "gold": "[Cause] provides both contact center infrastructure and WFO/WEM solutions [Relation] enable [Effect] improve call center efficiency",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the gradual ramp-up of traffic allowed on the Hong Kong-Zhuhai-Macao bridge, new Hengqin border and the Gongbei to Hengqin extension rail, Macao's carrying capacity for tourists would increase.",
    "output": "[Cause] the gradual ramp-up of traffic allowed on the Hong Kong-Zhuhai-Macao bridge, new Hengqin border and the Gongbei to Hengqin extension rail [Relation] cause [Effect] Macao's carrying capacity for tourists would increase",
    "gold": "[Cause] the gradual ramp-up of traffic allowed on the Hong Kong-Zhuhai-Macao bridge, new Hengqin border and the Gongbei to Hengqin extension rail [Relation] enable [Effect] Macao's carrying capacity for tourists would increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Construction is at levels not seen since 2007, and as long as retailers continue to shift strategies toward online, the building should continue.",
    "output": "[Cause] retailers continue to shift strategies toward online [Relation] cause [Effect] the building should continue",
    "gold": "[Cause] retailers continue to shift strategies toward online [Relation] cause [Effect] the building should continue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While breaches of banks' internal systems have been relatively rare compared with other payment systems, a breach on the bank technology side could have greater consequences.",
    "output": "[Cause] a breach on the bank technology side [Relation] cause [Effect] greater consequences",
    "gold": "[Cause] While breaches of banks' internal systems have been relatively rare compared with other payment systems [Relation] cause [Effect] a breach on the bank technology side could have greater consequences",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Similar to the two other largest distributors, McKesson has grown to such a significant size that regular acquisitions will likely be necessary to supplement growth to offset the overall market deceleration.",
    "output": "[Cause] McKesson has grown to such a significant size [Relation] cause [Effect] regular acquisitions will likely be necessary to supplement growth to offset the overall market deceleration",
    "gold": "[Cause] McKesson has grown to such a significant size [Relation] cause [Effect] regular acquisitions will likely be necessary to supplement growth to offset the overall market deceleration",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We estimate the companion animal segment should continue to deliver double-digit growth through 2025, which should drive 9.6% total revenue growth over the next five years.",
    "output": "[Cause] the companion animal segment should continue to deliver double-digit growth through 2025 [Relation] enable [Effect] drive 9.6% total revenue growth over the next five years",
    "gold": "[Cause] the companion animal segment should continue to deliver double-digit growth through 2025 [Relation] enable [Effect] drive 9.6% total revenue growth over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If market reception for the next-gen FreeStyle Libre CGM and 780g insulin pump exceeds our optimistic expectations, Dexcom could bear the brunt of this dynamic.",
    "output": "[Cause] market reception for the next-gen FreeStyle Libre CGM and 780g insulin pump exceeds our optimistic expectations [Relation] cause [Effect] Dexcom could bear the brunt of this dynamic",
    "gold": "[Cause] market reception for the next-gen FreeStyle Libre CGM and 780g insulin pump exceeds our optimistic expectations [Relation] cause [Effect] Dexcom could bear the brunt of this dynamic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, as accessories account for about two thirds of its sales, it is evident that women's handbags are its most important individual category.",
    "output": "[Cause] accessories account for about two thirds of its sales [Relation] cause [Effect] women's handbags are its most important individual category",
    "gold": "[Cause]  accessories account for about two thirds of its sales [Relation] cause [Effect]  women's handbags are its most important individual category",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since its inception in 2005, Echo Global Logistics has expanded at a healthy clip, supported by salesforce growth and acquisitions, along with market share gains from asset-based carriers and less sophisticated truck brokers.",
    "output": "[Cause] salesforce growth and acquisitions, along with market share gains from asset-based carriers and less sophisticated truck brokers [Relation] enable [Effect] Echo Global Logistics has expanded at a healthy clip",
    "gold": "[Cause] salesforce growth and acquisitions, along with market share gains from asset-based carriers and less sophisticated truck brokers [Relation] cause [Effect] Echo Global Logistics has expanded at a healthy clip",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While this is truly impressive we are unsure how sustainable it is as the competition is increasing in German digital banking, which could drive ING's profitability down to the low-single-digit norm in German banking.",
    "output": "[Cause] the competition is increasing in German digital banking [Relation] cause [Effect] drive ING's profitability down to the low-single-digit norm in German banking",
    "gold": "[Cause] the competition is increasing in German digital banking [Relation] prevent [Effect] drive ING's profitability down to the low-single-digit norm in German banking",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Coupled with the potential to accelerate its fortressing strategy (increasing store density by splitting franchisee territories), a more rational delivery environment due to third-party aggregator fee caps in several markets, and new product innovations, Domino's is operating from a position of strength. As such, we believe Domino's can still come close to its 2025 targets of 25,000 stores worldwide (versus 17,600 in 2020) and $25 billion global retail sales ($16 billion).",
    "output": "[Cause] Coupled with the potential to accelerate its fortressing strategy (increasing store density by splitting franchisee territories), a more rational delivery environment due to third-party aggregator fee caps in several markets, and new product innovations, Domino's is operating from a position of strength [Relation] cause [Effect] Domino's can still come close to its 2025 targets of 25,000 stores worldwide (versus 17,600 in 2020) and $25 billion global retail sales ($16 billion)",
    "gold": "[Cause] Coupled with the potential to accelerate its fortressing strategy (increasing store density by splitting franchisee territories), a more rational delivery environment due to third-party aggregator fee caps in several markets, and new product innovations, Domino's is operating from a position of strength [Relation] cause [Effect] Domino's can still come close to its 2025 targets of 25,000 stores worldwide (versus 17,600 in 2020) and $25 billion global retail sales ($16 billion)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, we also expect industrial markets to recover, which we think will boost freight demand for fleet owners, leading to higher revenue for Paccar.",
    "output": "[Cause] industrial markets to recover [Relation] cause [Effect] boost freight demand for fleet owners",
    "gold": "[Cause] industrial markets to recover [Relation] cause [Effect] boost freight demand for fleet owners",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, we also expect industrial markets to recover, which we think will boost freight demand for fleet owners, leading to higher revenue for Paccar.",
    "output": "[Cause] industrial markets to recover [Relation] cause [Effect] higher revenue for Paccar",
    "gold": "[Cause] boost freight demand for fleet owners [Relation] cause [Effect] higher revenue for Paccar",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With TurboTax and QuickBooks online sales having eclipsed their respective desktop sales, Intuit has now transitioned into a cloud-first company.",
    "output": "[Cause] TurboTax and QuickBooks online sales having eclipsed their respective desktop sales [Relation] cause [Effect] Intuit has now transitioned into a cloud-first company",
    "gold": "[Cause] TurboTax and QuickBooks online sales having eclipsed their respective desktop sales [Relation] enable [Effect] Intuit has now transitioned into a cloud-first company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of the availability of competing service offerings, consumers have historically shown reluctance to pay premiums for these services and gravitate to the lowest-cost provider, making margin expansion a difficult proposition.",
    "output": "[Cause] the availability of competing service offerings [Relation] cause [Effect] consumers have historically shown reluctance to pay premiums for these services and gravitate to the lowest-cost provider",
    "gold": "[Cause]  the availability of competing service offerings [Relation] cause [Effect] consumers have historically shown reluctance to pay premiums for these services and gravitate to the lowest-cost provider",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of the availability of competing service offerings, consumers have historically shown reluctance to pay premiums for these services and gravitate to the lowest-cost provider, making margin expansion a difficult proposition.",
    "output": "[Cause] consumers have historically shown reluctance to pay premiums for these services and gravitate to the lowest-cost provider [Relation] cause [Effect] margin expansion a difficult proposition",
    "gold": "[Cause]  the availability of competing service offerings [Relation] cause [Effect] margin expansion a difficult proposition",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "IQVIA's leadership within the CRO market and continuous technological advances gives us confidence that it will be able to maintain its trusted brand name and keep up with the ongoing innovation in the industry.",
    "output": "[Cause] IQVIA's leadership within the CRO market and continuous technological advances [Relation] enable [Effect] gives us confidence that it will be able to maintain its trusted brand name and keep up with the ongoing innovation in the industry",
    "gold": "[Cause] the CRO market and continuous technological advances gives us confidence [Relation] enable [Effect] maintain its trusted brand name and keep up with the ongoing innovation in the industry",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we note Lam has already benefited immensely from the initial planar to 3D NAND conversion and share gains from 2016 to 2018.",
    "output": "[Cause] the initial planar to 3D NAND conversion and share gains from 2016 to 2018 [Relation] enable [Effect] Lam has already benefited immensely",
    "gold": "[Cause] we note Lam has already benefited immensely from the initial planar to 3D NAND conversion [Relation] enable [Effect] share gains from 2016 to 2018",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Seagate will attempt to offset the decline in its legacy markets by making a pivot fully into mass capacity storage鈥攎ost notably nearline storage.",
    "output": "[Cause] making a pivot fully into mass capacity storageost notably nearline storage [Relation] enable [Effect] Seagate will attempt to offset the decline in its legacy markets",
    "gold": "[Cause] making a pivot fully into mass capacity storage鈥攎ost notably nearline storage [Relation] enable [Effect] Seagate will attempt to offset the decline in its legacy markets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over the next few years, we are modeling a roughly 200-basis-point adjusted operating margin expansion from 4.7% in fiscal 2020 to 6.7% by fiscal 2025, largely driven by management's general and administrative cost-reduction plan, and mix shift toward higher-margin design and consulting services work.",
    "output": "[Cause] management's general and administrative cost-reduction plan, and mix shift toward higher-margin design and consulting services work [Relation] cause [Effect] a roughly 200-basis-point adjusted operating margin expansion from 4.7% in fiscal 2020 to 6.7% by fiscal 2025",
    "gold": "[Cause] Over the next few years, we are modeling a roughly 200-basis-point adjusted operating margin expansion from 4.7% in fiscal 2020 to 6.7% by fiscal 2025 [Relation] enable [Effect] largely driven by management's general and administrative cost-reduction plan, and mix shift toward higher-margin design and consulting services work",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Though Sun Life achieved record revenue growth of nearly 50% in 2016 and 2017, revenue declined 35% in 2018 because of market volatility and a tough competitive environment.",
    "output": "[Cause] market volatility and a tough competitive environment [Relation] cause [Effect] revenue declined 35% in 2018",
    "gold": "[Cause] market volatility and a tough competitive environment [Relation] cause [Effect] revenue declined 35% in 2018",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However if it does not succeed with that transaction, its ROICs may permanently track at a lower level closer to WACC.",
    "output": "[Cause] it does not succeed with that transaction [Relation] cause [Effect] its ROICs may permanently track at a lower level closer to WACC",
    "gold": "[Cause] it does not succeed with that transaction [Relation] cause [Effect] its ROICs may permanently track at a lower level closer to WACC",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Having 30% of its assets under management dedicated to alternative strategies and 17% committed to multi-asset strategies and other products at the end of December, the firm is not as heavily exposed to the impact passive investing has had on active equities.",
    "output": "[Cause] Having 30% of its assets under management dedicated to alternative strategies and 17% committed to multi-asset strategies and other products at the end of December [Relation] cause [Effect] the firm is not as heavily exposed to the impact passive investing has had on active equities",
    "gold": "[Cause] Having 30% of its assets under management dedicated to alternative strategies and 17% committed to multi-asset strategies and other products at the end of December [Relation] cause [Effect] the firm is not as heavily exposed to the impact passive investing has had on active equities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Users will find it inconvenient to switch to alternative platforms for communication, social networking, content consumption, and payment, as many of these services are not in one platform, unlike WeChat.",
    "output": "[Cause] many of these services are not in one platform, unlike WeChat [Relation] cause [Effect] Users will find it inconvenient to switch to alternative platforms for communication, social networking, content consumption, and payment",
    "gold": "[Cause] many of these services are not in one platform, unlike WeChat [Relation] cause [Effect] Users will find it inconvenient to switch to alternative platforms for communication, social networking, content consumption, and payment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Competitors have no incentive to build a competing transmission line if a line is already serving a market's full capacity.",
    "output": "[Cause] a line is already serving a market's full capacity [Relation] cause [Effect] Competitors have no incentive to build a competing transmission line",
    "gold": "[Cause] a line is already serving a market's full capacity [Relation] cause [Effect] Competitors have no incentive to build a competing transmission line",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite currently loose capacity, broader trucking industry issues such as driver availability will probably drive intermittent capacity constraints in the years ahead, assuming modest freight demand growth.",
    "output": "[Cause] broader trucking industry issues such as driver availability [Relation] cause [Effect] drive intermittent capacity constraints in the years ahead",
    "gold": "[Cause] broader trucking industry issues such as driver availability [Relation] enable [Effect] drive intermittent capacity constraints in the years ahead",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since analog chips are neither particularly expensive, nor do they require cutting-edge manufacturing techniques, high-quality analog chipmakers tend to retain design wins for the life of the product, yet maintain healthy pricing and strong profitability on such sales over time.",
    "output": "[Cause] analog chips are neither particularly expensive, nor do they require cutting-edge manufacturing techniques [Relation] cause [Effect] high-quality analog chipmakers tend to retain design wins for the life of the product",
    "gold": "[Cause]  analog chips are neither particularly expensive, nor do they require cutting-edge manufacturing techniques [Relation] cause [Effect] high-quality analog chipmakers tend to retain design wins for the life of the product",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since analog chips are neither particularly expensive, nor do they require cutting-edge manufacturing techniques, high-quality analog chipmakers tend to retain design wins for the life of the product, yet maintain healthy pricing and strong profitability on such sales over time.",
    "output": "[Cause] analog chips are neither particularly expensive, nor do they require cutting-edge manufacturing techniques [Relation] cause [Effect] high-quality analog chipmakers tend to retain design wins for the life of the product",
    "gold": "[Cause] high-quality analog chipmakers tend to retain design wins for the life of the product [Relation] enable [Effect] maintain healthy pricing and strong profitability on such sales over time",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Texas Instruments and its peers faced a cyclical downturn in 2019 due to sluggish electronics demand caused by U.S.-China trade tensions, as the company's sales declined 9% in 2019.",
    "output": "[Cause] U.S.-China trade tensions [Relation] cause [Effect] sluggish electronics demand",
    "gold": "[Cause]  U.S.-China trade tensions [Relation] cause [Effect] sluggish electronics demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although participants with GeneSight demonstrated improvement and passed markers of response and remission (secondary endpoints at about 26% and 15%, respectively), its primary endpoint was negative and statistically insignificant, which lost some credibility of the test in the academic community.",
    "output": "[Cause] its primary endpoint was negative and statistically insignificant [Relation] cause [Effect] lost some credibility of the test in the academic community",
    "gold": "[Cause]  lost some credibility of the test in the academic community [Relation] cause [Effect] its primary endpoint was negative and statistically insignificant",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Chipotle remains a compelling growth story, with system sales frequently expanding at double-digit annual rates as the brand aggressively develops its U.S.",
    "output": "[Cause] system sales frequently expanding at double-digit annual rates [Relation] cause [Effect] Chipotle remains a compelling growth story",
    "gold": "[Cause] system sales frequently expanding at double-digit annual rates [Relation] cause [Effect] Chipotle remains a compelling growth story",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We acknowledge that acquisitions of certain drugs with obvious synergies can support strong returns, but we don't think this strategy can generate long-term competitive advantages.",
    "output": "[Cause] acquisitions of certain drugs with obvious synergies [Relation] enable [Effect] support strong returns",
    "gold": "[Cause]  acquisitions of certain drugs with obvious synergies [Relation] enable [Effect]  support strong returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Between 2021 and 2025, we assume the firm can post organic top-line expansion of about 7% as the economy normalizes and residential housing construction remains strong.",
    "output": "[Cause] the economy normalizes and residential housing construction remains strong [Relation] cause [Effect] the firm can post organic top-line expansion of about 7%",
    "gold": "[Cause] the economy normalizes and residential housing construction remains strong [Relation] enable [Effect] the firm can post organic top-line expansion of about 7%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "No other specialty beauty retailers can match the size and breadth of products offered in Ulta's stores because competitors' stores are smaller.",
    "output": "[Cause] competitors' stores are smaller [Relation] cause [Effect] No other specialty beauty retailers can match the size and breadth of products offered in Ulta's stores",
    "gold": "[Cause] competitors' stores are smaller [Relation] cause [Effect] No other specialty beauty retailers can match the size and breadth of products offered in Ulta's stores",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the key to a brand intangible is the ability to command premium pricing and, in turn, deliver economic profits.",
    "output": "[Cause] command premium pricing [Relation] enable [Effect] deliver economic profits",
    "gold": "[Cause] command premium pricing [Relation] enable [Effect] deliver economic profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With Cavium's products and capabilities in tow, we believe Marvell is in a much stronger position within networking, after previously struggling to gain significant traction in the networking chip space.",
    "output": "[Cause] Cavium's products and capabilities in tow [Relation] cause [Effect] Marvell is in a much stronger position within networking",
    "gold": "[Cause] Cavium's products and capabilities in tow [Relation] cause [Effect] Marvell is in a much stronger position within networking",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Partnered programs in neurology (with Roche and Biogen) and cardiology (with Novartis and Pfizer) are in late-stage development, putting Ionis in a position to see new royalty streams by the mid-2020s.",
    "output": "[Cause] Partnered programs in neurology (with Roche and Biogen) and cardiology (with Novartis and Pfizer) are in late-stage development [Relation] enable [Effect] putting Ionis in a position to see new royalty streams by the mid-2020s",
    "gold": "[Cause] Partnered programs in neurology (with Roche and Biogen) and cardiology (with Novartis and Pfizer) are in late-stage development [Relation] enable [Effect] putting Ionis in a position to see new royalty streams by the mid-2020s",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The COVID-19 pandemic will likely be a tailwind to Akamai's media business, as more content is consumed over the Internet, but pressures the pandemic will cause in other parts of the business offset much of the benefit.",
    "output": "[Cause] more content is consumed over the Internet [Relation] cause [Effect] The COVID-19 pandemic will likely be a tailwind to Akamai's media business",
    "gold": "[Cause] more content is consumed over the Internet [Relation] cause [Effect] The COVID-19 pandemic will likely be a tailwind to Akamai's media business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the firm has had issues with its 10-nanometer process in recent years, and has announced its 7-nm process will be delayed 6-12 months, thus opening the door for competitors such as AMD to gain share.",
    "output": "[Cause] the firm has had issues with its 10-nanometer process in recent years, and has announced its 7-nm process will be delayed 6-12 months [Relation] cause [Effect] opening the door for competitors such as AMD to gain share",
    "gold": "[Cause] the firm has had issues with its 10-nanometer process in recent years, and has announced its 7-nm process will be delayed 6-12 months [Relation] cause [Effect] opening the door for competitors such as AMD to gain share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With switching costs low, data breaches (which could also compromise customer payment information) or food-safety missteps in its private-label portfolio could impact performance.",
    "output": "[Cause] switching costs low [Relation] cause [Effect] data breaches (which could also compromise customer payment information) or food-safety missteps in its private-label portfolio could impact performance",
    "gold": "[Cause] switching costs low [Relation] cause [Effect] data breaches (which could also compromise customer payment information) or food-safety missteps in its private-label portfolio could impact performance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "GTT has a portfolio of patents and decades of experience that allow it to safely manage traffic, and we think the business is well positioned to capitalize on growing demand for smart city technologies.",
    "output": "[Cause] GTT has a portfolio of patents and decades of experience [Relation] enable [Effect] safely manage traffic",
    "gold": "[Cause]  capitalize on growing demand for smart city technologies [Relation] enable [Effect]  the business is well positioned",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Neo-banks focused on a digital offering are growing in number, and while some are reporting large percentage growth rates in their loan books, they have made only a minor dent in terms of market share.",
    "output": "[Cause] Neo-banks focused on a digital offering are growing in number [Relation] cause [Effect] they have made only a minor dent in terms of market share",
    "gold": "[Cause] Neo-banks focused on a digital offering are growing in number [Relation] cause [Effect] they have made only a minor dent in terms of market share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the early days of chip design, such tools were less necessary as designs were less complex and more archaic.",
    "output": "[Cause] designs were less complex and more archaic [Relation] cause [Effect] tools were less necessary",
    "gold": "[Cause] designs were less complex and more archaic [Relation] cause [Effect] tools were less necessary",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Steris' ability to selectively expand its plant footprint will be an important determinant of future returns, since expanding too quickly could result in underutilized plants compressing margins.",
    "output": "[Cause] expanding too quickly could result in underutilized plants compressing margins [Relation] cause [Effect] Steris' ability to selectively expand its plant footprint will be an important determinant of future returns",
    "gold": "[Cause] expanding too quickly could result in underutilized plants compressing margins [Relation] cause [Effect] Steris' ability to selectively expand its plant footprint will be an important determinant of future returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, NICE remains a leader in the arena, with the firm's features and functionality exceeding those of other players, in our view.",
    "output": "[Cause] the firm's features and functionality exceeding those of other players [Relation] cause [Effect] NICE remains a leader in the arena",
    "gold": "[Cause] the firm's features and functionality exceeding those of other players [Relation] enable [Effect]  NICE remains a leader in the arena",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because contact lenses are largely paid for out of pocket, CooperVision is largely unaffected by pressure from insurers and we have seen rational pricing prevail over the past decades and we do not expect any price wars to emerge.",
    "output": "[Cause] contact lenses are largely paid for out of pocket [Relation] cause [Effect] CooperVision is largely unaffected by pressure from insurers and we have seen rational pricing prevail over the past decades and we do not expect any price wars to emerge",
    "gold": "[Cause] rational pricing prevail over the past decades [Relation] enable [Effect]  we do not expect any price wars to emerge",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think taking share in the high-end market with consumers who earn more than $175,000 annually with brands AllModern, Perigold, Birch Lane, and Joss & Main could be a bit more difficult as the willingness to spend on big-ticket products sight unseen could be a bit lower.",
    "output": "[Cause] the willingness to spend on big-ticket products sight unseen could be a bit lower [Relation] cause [Effect] taking share in the high-end market with consumers who earn more than $175,000 annually with brands AllModern, Perigold, Birch Lane, and Joss & Main could be a bit more difficult",
    "gold": "[Cause]  the willingness to spend on big-ticket products sight unseen could be a bit lower [Relation] prevent [Effect] We think taking share in the high-end market with consumers who earn more than $175,000 annually with brands AllModern",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Customers' thirst for value remains as the economic recovery is uneven, but competition for discretionary dollars is rising as pandemic-affected categories (like restaurants) rebound.",
    "output": "[Cause] the economic recovery is uneven [Relation] cause [Effect] Customers' thirst for value remains",
    "gold": "[Cause] the economic recovery is uneven [Relation] cause [Effect] Customers' thirst for value remains",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customers' thirst for value remains as the economic recovery is uneven, but competition for discretionary dollars is rising as pandemic-affected categories (like restaurants) rebound.",
    "output": "[Cause] pandemic-affected categories (like restaurants) rebound [Relation] cause [Effect] competition for discretionary dollars is rising",
    "gold": "[Cause]  pandemic-affected categories (like restaurants) rebound [Relation] cause [Effect] competition for discretionary dollars is rising",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These initiatives will likely foster increased foot traffic and possibly work toward improved care coordination long term objectives with a recently announced partnership with Humana and Advocate Healthcare to offer primary care.",
    "output": "[Cause] a recently announced partnership with Humana and Advocate Healthcare to offer primary care [Relation] enable [Effect] These initiatives will likely foster increased foot traffic and possibly work toward improved care coordination long term objectives",
    "gold": "[Cause] announced partnership with Humana [Relation] cause [Effect] Advocate Healthcare to offer primary care",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Abrasive fluids create constant wear and tear on equipment, creating a steady demand for replacement parts (for example, spray gun tips).",
    "output": "[Cause] Abrasive fluids create constant wear and tear on equipment [Relation] cause [Effect] creating a steady demand for replacement parts",
    "gold": "[Cause] Abrasive fluids create constant wear and tear on equipment [Relation] cause [Effect] creating a steady demand for replacement parts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although tobacco companies spend roughly $10 billion on marketing in the U.S., roughly two thirds is spent on price discounts to reduce the cost of cigarettes to consumers.",
    "output": "[Cause] roughly two thirds is spent on price discounts [Relation] enable [Effect] reduce the cost of cigarettes to consumers",
    "gold": "[Cause]  roughly two thirds is spent on price discounts [Relation] enable [Effect] reduce the cost of cigarettes to consumers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, we do expect modest margin improvements driven by mix, as we forecast that the high margin consumables segment will remain the largest component of the company's revenue and continue expanding and we anticipate additional cost improvements following the full integration of the Hospira acquisition.",
    "output": "[Cause] the high margin consumables segment will remain the largest component of the company's revenue and continue expanding and we anticipate additional cost improvements following the full integration of the Hospira acquisition [Relation] cause [Effect] modest margin improvements driven by mix",
    "gold": "[Cause] the high margin consumables segment will remain the largest component of the company's revenue and continue expanding [Relation] cause [Effect] modest margin improvements driven by mix | additional cost improvements following the full integration of the Hospira acquisition",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Even though mainstream fare should continue to deteriorate and weigh disproportionately on the portfolio, we see increasing contributions from above-premium as the world normalizes after the pandemic.",
    "output": "[Cause] the world normalizes after the pandemic [Relation] cause [Effect] increasing contributions from above-premium",
    "gold": "[Cause] the world normalizes after the pandemic [Relation] enable [Effect] increasing contributions from above-premium",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do not think Steris will have any issue paying down this additional debt, given the firm's consistent cash flow generation, and we anticipate gross leverage below 3.0 times EBITDA by 2024, compared with leverage of around 3-times once the Cantel deal closes.",
    "output": "[Cause] the firm's consistent cash flow generation [Relation] cause [Effect] We do not think Steris will have any issue paying down this additional debt",
    "gold": "[Cause]  the firm's consistent cash flow generation [Relation] enable [Effect] We do not think Steris will have any issue paying down this additional debt",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Commercial aerospace is in its worst downcycle ever because the pandemic has made consumers and businesses less willing to travel.",
    "output": "[Cause] the pandemic has made consumers and businesses less willing to travel [Relation] cause [Effect] Commercial aerospace is in its worst downcycle ever",
    "gold": "[Cause] the pandemic has made consumers and businesses less willing to travel [Relation] cause [Effect] Commercial aerospace is in its worst downcycle ever",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ICE offers futures contracts tied to oil and other petroleum products on its exchanges, exposing it to the risk of reduced demand for its futures if global oil consumption declines as a result of environmental concerns.",
    "output": "[Cause] environmental concerns [Relation] cause [Effect] global oil consumption declines",
    "gold": "[Cause] environmental concerns [Relation] cause [Effect] global oil consumption declines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ICE offers futures contracts tied to oil and other petroleum products on its exchanges, exposing it to the risk of reduced demand for its futures if global oil consumption declines as a result of environmental concerns.",
    "output": "[Cause] environmental concerns [Relation] cause [Effect] global oil consumption declines",
    "gold": "[Cause] global oil consumption declines [Relation] cause [Effect] the risk of reduced demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Driving this growth are beneficial trends in the semiconductor industry, including the rise of in-house custom chip design (as Moore's Law slows), and proliferation of key technologies such as 5G, cloud computing, AI/ML, Internet of Things, and autonomous vehicles; these should bolster EDA and IP growth.",
    "output": "[Cause] Driving this growth are beneficial trends in the semiconductor industry [Relation] cause [Effect] including the rise of in-house custom chip design",
    "gold": "[Cause] Driving this growth are beneficial trends in the semiconductor industry, including the rise of in-house custom chip design (as Moore's Law slows), and proliferation of key technologies such as 5G, cloud computing, AI/ML, Internet of Things, and autonomous vehicles [Relation] enable [Effect] these should bolster EDA and IP growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Driving this growth are beneficial trends in the semiconductor industry, including the rise of in-house custom chip design (as Moore's Law slows), and proliferation of key technologies such as 5G, cloud computing, AI/ML, Internet of Things, and autonomous vehicles; these should bolster EDA and IP growth.",
    "output": "[Cause] the rise of in-house custom chip design (as Moore's Law slows), and proliferation of key technologies such as 5G, cloud computing, AI/ML, Internet of Things, and autonomous vehicles [Relation] enable [Effect] bolster EDA and IP growth",
    "gold": "[Cause] Moore's Law slows [Relation] cause [Effect] the rise of in-house custom chip design",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Driving this growth are beneficial trends in the semiconductor industry, including the rise of in-house custom chip design (as Moore's Law slows), and proliferation of key technologies such as 5G, cloud computing, AI/ML, Internet of Things, and autonomous vehicles; these should bolster EDA and IP growth.",
    "output": "[Cause] proliferation of key technologies such as 5G, cloud computing, AI/ML, Internet of Things, and autonomous vehicles [Relation] enable [Effect] bolster EDA and IP growth",
    "gold": "[Cause] Driving this growth are beneficial trends in the semiconductor industry [Relation] enable [Effect] including the rise of in-house custom chip design (as Moore's Law slows), and proliferation of key technologies such as 5G, cloud computing, AI/ML, Internet of Things, and autonomous vehicles",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect net interest margins to remain below their prepandemic level for some time as interest rates will likely remain low and it will take time for Capital One's credit card portfolio to recover to its original size.",
    "output": "[Cause] interest rates will likely remain low and it will take time for Capital One's credit card portfolio to recover to its original size [Relation] cause [Effect] net interest margins to remain below their prepandemic level for some time",
    "gold": "[Cause] interest rates will likely remain low and it will take time for Capital One's credit card portfolio to recover to its original size [Relation] cause [Effect] net interest margins to remain below their prepandemic level for some time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe occupancy will struggle to maintain its lofty rates over the next few years, as newly penetrated markets do not reflect the supply constraints present in the company's West Coast properties.",
    "output": "[Cause] newly penetrated markets do not reflect the supply constraints present in the company's West Coast properties [Relation] cause [Effect] occupancy will struggle to maintain its lofty rates over the next few years",
    "gold": "[Cause] newly penetrated markets do not reflect the supply constraints present in the company's West Coast properties [Relation] cause [Effect] occupancy will struggle to maintain its lofty rates over the next few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "SBA controls more than 70% of its land for more than 20 years, so land control risk is not significant near term.",
    "output": "[Cause] SBA controls more than 70% of its land for more than 20 years [Relation] cause [Effect] land control risk is not significant near term",
    "gold": "[Cause] SBA controls more than 70% of its land for more than 20 years [Relation] cause [Effect]  land control risk is not significant near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If companies cannot justify additional network costs due to the lack of productivity increases or additional feature set demand, Nokia and CSP equipment providers may face daunting headwinds.",
    "output": "[Cause] the lack of productivity increases or additional feature set demand [Relation] cause [Effect] Nokia and CSP equipment providers may face daunting headwinds",
    "gold": "[Cause]  the lack of productivity increases or additional feature set demand [Relation] cause [Effect] Nokia and CSP equipment providers may face daunting headwinds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "LabCorp is also a strong contender as it relates to data because its CRO business is paired with its lab and diagnostics arm, which generates its own impressive set of patient data.",
    "output": "[Cause] its CRO business is paired with its lab and diagnostics arm [Relation] cause [Effect] generates its own impressive set of patient data",
    "gold": "[Cause]  it relates to data [Relation] enable [Effect] LabCorp is also a strong contender",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "LabCorp is also a strong contender as it relates to data because its CRO business is paired with its lab and diagnostics arm, which generates its own impressive set of patient data.",
    "output": "[Cause] its CRO business is paired with its lab and diagnostics arm [Relation] cause [Effect] generates its own impressive set of patient data",
    "gold": "[Cause]  its CRO business is paired with its lab and diagnostics arm [Relation] cause [Effect]  generates its own impressive set of patient data",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, we believe pricing gains will be bound by the hesitancy of new cruisers over the next few years, as those potential customers could opt for more safely perceived land-based vacations, given the recent media hype.",
    "output": "[Cause] the recent media hype [Relation] cause [Effect] those potential customers could opt for more safely perceived land-based vacations",
    "gold": "[Cause] those potential customers could opt for more safely perceived land-based vacations [Relation] cause [Effect] pricing gains will be bound by the hesitancy of new cruisers over the next few years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, we believe pricing gains will be bound by the hesitancy of new cruisers over the next few years, as those potential customers could opt for more safely perceived land-based vacations, given the recent media hype.",
    "output": "[Cause] the recent media hype [Relation] cause [Effect] those potential customers could opt for more safely perceived land-based vacations",
    "gold": "[Cause] the recent media hype [Relation] cause [Effect] those potential customers could opt for more safely perceived land-based vacations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "PNC arguably has excess capital, and with the latest proposed regulatory capital changes (tailoring rules), PNC should be able to shed even more excess capital as a way to improve returns, although pressure from the fallout of COVID-19 will likely put any excess capital return on hold for now.",
    "output": "[Cause] pressure from the fallout of COVID-19 [Relation] cause [Effect] put any excess capital return on hold for now",
    "gold": "[Cause] PNC should be able to shed even more excess capital [Relation] enable [Effect] improve returns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Measurements of temperature, vibration, power, and other elements enable the software to predict maintenance needs, as well as changes needed to meet performance requirements.",
    "output": "[Cause] Measurements of temperature, vibration, power, and other elements [Relation] enable [Effect] the software to predict maintenance needs, as well as changes needed to meet performance requirements",
    "gold": "[Cause] Measurements of temperature, vibration, power, and other elements [Relation] enable [Effect]  the software to predict maintenance needs, as well as changes needed to meet performance requirements",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Tariffs, for example, threaten Honeywell's supply chain and could have an impact on its cost inputs, which may be difficult to offset with increased pricing in certain markets.",
    "output": "[Cause] threaten Honeywell's supply chain [Relation] cause [Effect] have an impact on its cost inputs",
    "gold": "[Cause] threaten Honeywell's supply chain and could have an impact on its cost inputs [Relation] cause [Effect] Tariffs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Tariffs, for example, threaten Honeywell's supply chain and could have an impact on its cost inputs, which may be difficult to offset with increased pricing in certain markets.",
    "output": "[Cause] threatened Honeywell's supply chain [Relation] cause [Effect] have an impact on its cost inputs",
    "gold": "[Cause] threaten Honeywell's supply chain and could have an impact on its cost inputs [Relation] cause [Effect] may be difficult to offset with increased pricing in certain markets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "It has strong pricing power in its consumer health business, led by high risk aversion in the pain medication and sexual health categories, and favourable industry structures.",
    "output": "[Cause] high risk aversion in the pain medication and sexual health categories, and favourable industry structures [Relation] cause [Effect] It has strong pricing power in its consumer health business",
    "gold": "[Cause]  high risk aversion in the pain medication and sexual health categories, and favourable industry structures [Relation] enable [Effect] It has strong pricing power in its consumer health business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Compared with other E&amp;C firms under our coverage, Fluor has substantially higher exposure to the energy, chemicals, and mining sectors. As such, it was a key beneficiary of high oil prices, elevated capital expenditures in the mining sector, and China's infrastructure boom during that period.",
    "output": "[Cause] Compared with other E&amp;C firms under our coverage, Fluor has substantially higher exposure to the energy, chemicals, and mining sectors [Relation] cause [Effect] it was a key beneficiary of high oil prices, elevated capital expenditures in the mining sector, and China's infrastructure boom during that period",
    "gold": "[Cause] Compared with other E&amp;C firms under our coverage, Fluor has substantially higher exposure to the energy, chemicals, and mining sectors [Relation] cause [Effect] it was a key beneficiary of high oil prices, elevated capital expenditures in the mining sector, and China's infrastructure boom during that period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to the completion of Netflix's global expansion (excluding China) and lower prices, we expect the international streaming paid subscriber base to expand to 300 million by 2025.",
    "output": "[Cause] the completion of Netflix's global expansion (excluding China) and lower prices [Relation] cause [Effect] the international streaming paid subscriber base to expand to 300 million by 2025",
    "gold": "[Cause] the completion of Netflix's global expansion (excluding China) and lower prices [Relation] cause [Effect] the international streaming paid subscriber base to expand to 300 million by 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The Northern California and Seattle markets have seen significant job and income growth generated by the technology industry, which has created substantial apartment demand.",
    "output": "[Cause] the technology industry [Relation] cause [Effect] The Northern California and Seattle markets have seen significant job and income growth",
    "gold": "[Cause] the technology industry [Relation] cause [Effect] The Northern California and Seattle markets have seen significant job and income growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe KLA is well positioned for the long-term, as chipmakers will require more advanced PDC tools to go with fabrication technologies featuring smaller circuit sizes, new materials, and more process steps.",
    "output": "[Cause] chipmakers will require more advanced PDC tools to go with fabrication technologies featuring smaller circuit sizes, new materials, and more process steps [Relation] cause [Effect] KLA is well positioned for the long-term",
    "gold": "[Cause] chipmakers will require more advanced PDC tools to go with fabrication technologies featuring smaller circuit sizes, new materials, and more process steps [Relation] enable [Effect] KLA is well positioned for the long-term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Yet, the rise of the public cloud has resulted in an increasing need to access data from different databases in one place.",
    "output": "[Cause] the rise of the public cloud [Relation] cause [Effect] an increasing need to access data from different databases in one place",
    "gold": "[Cause]  the rise of the public cloud [Relation] cause [Effect] an increasing need to access data from different databases in one place",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, over time, improved gross margin results from strong private-label penetration and better merchandising could outpace operating expense growth, leading to operating margins that rise more than 10 basis points on average annually, from 9% in 2019.",
    "output": "[Cause] strong private-label penetration and better merchandising [Relation] cause [Effect] improved gross margin",
    "gold": "[Cause] strong private-label penetration and better merchandising [Relation] cause [Effect] improved gross margin",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, over time, improved gross margin results from strong private-label penetration and better merchandising could outpace operating expense growth, leading to operating margins that rise more than 10 basis points on average annually, from 9% in 2019.",
    "output": "[Cause] outpace operating expense growth [Relation] cause [Effect] improved gross margin",
    "gold": "[Cause] improved gross margin [Relation] cause [Effect] outpace operating expense growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, over time, improved gross margin results from strong private-label penetration and better merchandising could outpace operating expense growth, leading to operating margins that rise more than 10 basis points on average annually, from 9% in 2019.",
    "output": "[Cause] outpace operating expense growth [Relation] cause [Effect] operating margins that rise more than 10 basis points on average annually, from 9% in 2019",
    "gold": "[Cause] outpace operating expense growth [Relation] cause [Effect] operating margins that rise more than 10 basis points on average annually, from 9% in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the next 10 years, we estimate that adjusted ROIC including goodwill will be materially lower, given the acquisition of Core-Mark.",
    "output": "[Cause] the acquisition of Core-Mark [Relation] cause [Effect] adjusted ROIC including goodwill will be materially lower",
    "gold": "[Cause] the acquisition of Core-Mark [Relation] cause [Effect] adjusted ROIC including goodwill will be materially lower",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The monetization of, and higher ROI on, machine learning stems from the fact that the technology increases the volume and click-through rates of ads, resulting in more ad revenue.",
    "output": "[Cause] the technology increases the volume and click-through rates of ads [Relation] cause [Effect] The monetization of, and higher ROI on, machine learning",
    "gold": "[Cause] the technology increases the volume and click-through rates of ads [Relation] cause [Effect] The monetization of, and higher ROI on, machine learning",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The monetization of, and higher ROI on, machine learning stems from the fact that the technology increases the volume and click-through rates of ads, resulting in more ad revenue.",
    "output": "[Cause] the technology increases the volume and click-through rates of ads [Relation] cause [Effect] The monetization of, and higher ROI on, machine learning",
    "gold": "[Cause] The monetization of, and higher ROI on, machine learning [Relation] cause [Effect] more ad revenue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, due to store closures and a lack of consistent organic growth, we forecast Macy's revenue will remain below the $25 billion achieved in 2019.",
    "output": "[Cause] store closures and a lack of consistent organic growth [Relation] cause [Effect] Macy's revenue will remain below the $25 billion achieved in 2019",
    "gold": "[Cause] store closures and a lack of consistent organic growth [Relation] cause [Effect] Macy's revenue will remain below the $25 billion achieved in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Payment processing of any type is a highly scalable business, as once a payment platform is established, there is little incremental cost to additional transactions.",
    "output": "[Cause] once a payment platform is established, there is little incremental cost to additional transactions [Relation] cause [Effect] Payment processing of any type is a highly scalable business",
    "gold": "[Cause] once a payment platform is established, there is little incremental cost to additional transactions [Relation] cause [Effect] Payment processing of any type is a highly scalable business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The 1990s saw a wave of consolidation in the local station marketplace that has continued to this day as the Federal Communications Commission has weakened its stance on media ownership concentration.",
    "output": "[Cause] the Federal Communications Commission has weakened its stance on media ownership concentration [Relation] cause [Effect] The 1990s saw a wave of consolidation in the local station marketplace that has continued to this day",
    "gold": "[Cause] the Federal Communications Commission has weakened its stance on media ownership concentration [Relation] cause [Effect] The 1990s saw a wave of consolidation in the local station marketplace that has continued to this day",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we expect the operating margin to drop slightly by 2025 (estimated) from 2024 (estimated) as we expect intensified competition may result in slightly higher costs.",
    "output": "[Cause] intensified competition may result in slightly higher costs [Relation] cause [Effect] the operating margin to drop slightly by 2025 (estimated) from 2024 (estimated)",
    "gold": "[Cause] we expect intensified competition may result in slightly higher costs [Relation] cause [Effect] expect the operating margin to drop slightly by 2025 (estimated) from 2024",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As contracts for defense hardware essentially grants a monopoly on the product once the product is granted, we also see some modest switching costs stemming from a lack of viable alternatives, but this is partially mitigated by the government's right to license patents to third parties.",
    "output": "[Cause] contracts for defense hardware essentially grants a monopoly on the product once the product is granted [Relation] cause [Effect] some modest switching costs stemming from a lack of viable alternatives",
    "gold": "[Cause]  the government's right to license patents to third parties [Relation] cause [Effect] this is partially mitigated",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As contracts for defense hardware essentially grants a monopoly on the product once the product is granted, we also see some modest switching costs stemming from a lack of viable alternatives, but this is partially mitigated by the government's right to license patents to third parties.",
    "output": "[Cause] the government's right to license patents to third parties [Relation] enable [Effect] some modest switching costs stemming from a lack of viable alternatives",
    "gold": "[Cause] contracts for defense hardware essentially grants a monopoly on the product once the product is granted [Relation] cause [Effect] we also see some modest switching costs stemming from a lack of viable alternatives",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe Robert Half is well positioned to out-earn its cost of capital in the next recession, supported by its intangible assets and network effect in matching higher-skill professionals with clients looking for qualified candidates.",
    "output": "[Cause] its intangible assets and network effect in matching higher-skill professionals with clients looking for qualified candidates [Relation] enable [Effect] Robert Half is well positioned to out-earn its cost of capital in the next recession",
    "gold": "[Cause] its intangible assets and network effect in matching higher-skill professionals with clients looking for qualified candidates [Relation] enable [Effect] Robert Half is well positioned to out-earn its cost of capital in the next recession",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In those states, Anthem provides insurance to about one in every three people, which gives it significant scale-related cost advantages.",
    "output": "[Cause] Anthem provides insurance to about one in every three people [Relation] enable [Effect] significant scale-related cost advantages",
    "gold": "[Cause] Anthem provides insurance to about one in every three people [Relation] cause [Effect]  significant scale-related cost advantages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Historically, the company has copiously rewarded employees with stock-based compensation, and decreasing this benefit could weigh on employee retention and hiring.",
    "output": "[Cause] decreasing this benefit [Relation] prevent [Effect] employee retention and hiring",
    "gold": "[Cause] decreasing this benefit [Relation] prevent [Effect] employee retention and hiring",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By 2030, we expect operating margin to reach roughly 17%, due to the full-ramp up of production and fixed cost leverage against overhead expenses.",
    "output": "[Cause] the full-ramp up of production and fixed cost leverage against overhead expenses [Relation] cause [Effect] operating margin to reach roughly 17%",
    "gold": "[Cause] the full-ramp up of production and fixed cost leverage against overhead expenses [Relation] cause [Effect] operating margin to reach roughly 17%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are raising our fair value estimate to $315 per share, up from $275, reflecting our increased optimism for post-vaccine rollout sales.",
    "output": "[Cause] raising our fair value estimate to $315 per share, up from $275 [Relation] enable [Effect] reflecting our increased optimism for post-vaccine rollout sales",
    "gold": "[Cause] our increased optimism for post-vaccine rollout sales [Relation] enable [Effect] We are raising our fair value estimate to $315 per share, up from $275",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The four-player structure has resulted in a long history of stiff price competition, initially as carriers scrambled to gain share in a growing market and more recently as carriers have fought to keep customers in a tough economic environment.",
    "output": "[Cause] The four-player structure [Relation] cause [Effect] a long history of stiff price competition",
    "gold": "[Cause] The four-player structure [Relation] cause [Effect] a long history of stiff price competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Broadly, our assessment reflects the dominance of HSBC in Hong Kong; the more challenging regulatory environment in the U.K, which lowers excess returns earned from a strong competitive position; and its weak position in the United States.",
    "output": "[Cause] the more challenging regulatory environment in the U.K [Relation] cause [Effect] lowers excess returns earned from a strong competitive position; and its weak position in the United States",
    "gold": "[Cause]  the more challenging regulatory environment in the U.K [Relation] cause [Effect]  lowers excess returns earned from a strong competitive position; and its weak position in the United States",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Protective solutions (10% of sales) should be able to drive revenue growth of around 5% annually and enjoy margin expansion.",
    "output": "[Cause] Protective solutions [Relation] enable [Effect] revenue growth of around 5% annually",
    "gold": "[Cause] Protective solution [Relation] cause [Effect]  enjoy margin expansion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Protective solutions (10% of sales) should be able to drive revenue growth of around 5% annually and enjoy margin expansion.",
    "output": "[Cause] Protective solutions [Relation] enable [Effect] revenue growth of around 5% annually and enjoy margin expansion",
    "gold": "[Cause] Protective solution [Relation] cause [Effect]  drive revenue growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The partnership is also exposed to cash flow volatility because of changes in margins and volumes for various energy products.",
    "output": "[Cause] changes in margins and volumes for various energy products [Relation] cause [Effect] The partnership is also exposed to cash flow volatility",
    "gold": "[Cause] changes in margins and volumes for various energy products [Relation] cause [Effect] The partnership is also exposed to cash flow volatility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Low natural gas prices and intensifying environmental regulations across North America put much of CP's utility coal shipments at risk of disappearing over the long run.",
    "output": "[Cause] Low natural gas prices and intensifying environmental regulations across North America [Relation] cause [Effect] much of CP's utility coal shipments at risk of disappearing over the long run",
    "gold": "[Cause] Low natural gas prices and intensifying environmental regulations across North America [Relation] cause [Effect]  much of CP's utility coal shipments at risk of disappearing over the long run",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the 2013-21 RIIO regulatory framework, National Grid can earn a 7% real return on its transmission assets plus incentives, which could add 300 basis points or more to its return on equity.",
    "output": "[Cause] National Grid can earn a 7% real return on its transmission assets plus incentives [Relation] enable [Effect] add 300 basis points or more to its return on equity",
    "gold": "[Cause] National Grid can earn a 7% real return on its transmission assets plus incentives [Relation] cause [Effect]  add 300 basis points or more to its return on equity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These relationships result in switching costs, as relations become sticky and changing equipment would require a significant amount of money and time in retraining personnel.",
    "output": "[Cause] relations become sticky and changing equipment would require a significant amount of money and time in retraining personnel [Relation] cause [Effect] switching costs",
    "gold": "[Cause] These relationships [Relation] cause [Effect] switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Operating deleverage and investments for strategic initiatives will likely weigh on restaurant profits this year, with our model calling for 17.5% restaurant margins in 2020 versus 20.5% in 2019.",
    "output": "[Cause] Operating deleverage and investments for strategic initiatives [Relation] cause [Effect] weigh on restaurant profits this year",
    "gold": "[Cause] Operating deleverage and investments for strategic initiatives [Relation] cause [Effect] weigh on restaurant profits this year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, Match Group, as it has demonstrated historically, is likely to acquire some competitors to broaden the portfolio and strengthen the network effect around it.",
    "output": "[Cause] acquire some competitors [Relation] enable [Effect] broaden the portfolio and strengthen the network effect around it",
    "gold": "[Cause] Match Group, as it has demonstrated historically [Relation] enable [Effect] acquire some competitors to broaden the portfolio and strengthen the network effect around it",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, given the completely stagnant demand outlook, virtually no new pipes are being constructed, meaning Magellan faces no new competitive threats from that angle.",
    "output": "[Cause] the completely stagnant demand outlook, virtually no new pipes are being constructed [Relation] cause [Effect] Magellan faces no new competitive threats from that angle",
    "gold": "[Cause] the completely stagnant demand outlook, virtually no new pipes are being constructed [Relation] enable [Effect] Magellan faces no new competitive threats from that angle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For decades, both Deere and CNH have steadily improved the performance of machinery, allowing farmers to do more with less.",
    "output": "[Cause] both Deere and CNH have steadily improved the performance of machinery [Relation] enable [Effect] farmers to do more with less",
    "gold": "[Cause] both Deere and CNH have steadily improved the performance of machinery [Relation] enable [Effect] farmers to do more with less",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Once Zillow purchases the home, it makes the necessary renovations and adjustments to prepare it for resale on the open market on its proprietary website.",
    "output": "[Cause] Zillow purchases the home [Relation] cause [Effect] it makes the necessary renovations and adjustments to prepare it for resale on the open market on its proprietary website",
    "gold": "[Cause] Zillow purchases the home [Relation] cause [Effect]  it makes the necessary renovations and adjustments to prepare it for resale on the open market on its proprietary website",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project capital spending to fall from 45% of sales in 2020 to just under 20% by 2030 as new data construction slows.",
    "output": "[Cause] new data construction slows [Relation] cause [Effect] capital spending to fall from 45% of sales in 2020 to just under 20% by 2030",
    "gold": "[Cause] new data construction slows [Relation] cause [Effect] capital spending to fall from 45% of sales in 2020 to just under 20% by 2030",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Landstar also represents an attractive source of freight opportunities for carriers, thanks to its ability to aggregate fragmented demand across a broad customer base of shippers.",
    "output": "[Cause] its ability to aggregate fragmented demand across a broad customer base of shippers [Relation] enable [Effect] Landstar also represents an attractive source of freight opportunities for carriers",
    "gold": "[Cause]  its ability to aggregate fragmented demand across a broad customer base of shippers [Relation] cause [Effect] Landstar also represents an attractive source of freight opportunities for carriers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With 2020-21 could be plagued by competitive pricing as Carnival and the other cruise operators try to entice cruisers to sail again, we don't see Carnival reaching 2019 pricing again until 2024.",
    "output": "[Cause] Carnival and the other cruise operators try to entice cruisers to sail again [Relation] cause [Effect] 2020-21 could be plagued by competitive pricing",
    "gold": "[Cause]  Carnival and the other cruise operators try to entice cruisers to sail again [Relation] cause [Effect] 2020-21 could be plagued by competitive pricing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because Broadridge earns the same fee if a beneficial owner owns 10 shares or 1,000 shares, it is the number of positions that matters, and we expect total positions to be robust through a variety of market conditions.",
    "output": "[Cause] Broadridge earns the same fee if a beneficial owner owns 10 shares or 1,000 shares [Relation] cause [Effect] it is the number of positions that matters",
    "gold": "[Cause] Broadridge earns the same fee if a beneficial owner owns 10 shares or 1,000 shares [Relation] cause [Effect] it is the number of positions that matters",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Uncertainty as to image quality in poor weather or from other obstructions needs to be considered by regulators as well.",
    "output": "[Cause] Uncertainty as to image quality in poor weather or from other obstructions [Relation] cause [Effect] regulators as well",
    "gold": "[Cause] poor weather or from other obstructions [Relation] cause [Effect] Uncertainty as to image quality",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "PSXP's assets typically are unique to a specific refinery and handle all of the refinery's needs, making it uneconomical for Phillips 66 to switch suppliers or allow competitors to enter.",
    "output": "[Cause] PSXP's assets typically are unique to a specific refinery and handle all of the refinery's needs [Relation] cause [Effect] it uneconomical for Phillips 66 to switch suppliers or allow competitors to enter",
    "gold": "[Cause] PSXP's assets typically are unique to a specific refinery and handle all of the refinery's needs [Relation] cause [Effect]  it uneconomical for Phillips 66 to switch suppliers or allow competitors to enter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm lost market share in its important firewall business and we believe Check Point is at a critical time to expand its customer presence as enterprises use more cloud-based applications.",
    "output": "[Cause] enterprises use more cloud-based applications [Relation] cause [Effect] Check Point is at a critical time to expand its customer presence",
    "gold": "[Cause] enterprises use more cloud-based applications [Relation] cause [Effect] Check Point is at a critical time to expand its customer presence",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're also modeling 260 basis points of adjusted net operating margin (EBIT/net revenue) gains, to about 10% on leverage from net revenue growth and rising truckload transaction automation, despite a likely uptick in certain costs like travel and entertainment as the economy reopens.",
    "output": "[Cause] the economy reopens [Relation] cause [Effect] a likely uptick in certain costs like travel and entertainment",
    "gold": "[Cause] net revenue growth and rising truckload transaction automation [Relation] cause [Effect] about 10% on leverage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also think that at times the company's share price experiences a high coloration with the price of oil and divorces from the underlying demand and financial fundamentals.",
    "output": "[Cause] the price of oil and divorces from the underlying demand and financial fundamentals [Relation] cause [Effect] the company's share price experiences a high coloration",
    "gold": "[Cause] the price of oil and divorces from the underlying demand and financial fundamentals [Relation] enable [Effect] the company's share price experiences a high coloration",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, given the global pricing transparency that the Internet has made possible, adjusting pricing to currency moves has become a more challenging task.",
    "output": "[Cause] the global pricing transparency that the Internet has made possible [Relation] cause [Effect] adjusting pricing to currency moves has become a more challenging task",
    "gold": "[Cause]  given the global pricing transparency [Relation] cause [Effect]  adjusting pricing to currency moves has become a more challenging task",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As the pivot toward products like Flex and Marketing Campaigns continues, Twilio will enjoy not only better gross margins, but also stronger switching costs due to the difficulty associated with replacing these systems.",
    "output": "[Cause] the difficulty associated with replacing these systems [Relation] cause [Effect] Twilio will enjoy not only better gross margins, but also stronger switching costs",
    "gold": "[Cause] the difficulty associated with replacing these systems [Relation] cause [Effect] Twilio will enjoy not only better gross margins, but also stronger switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Scale and deepening commercial relationships should help O'Reilly curry favor with vendors and efficiently manage inventory, leading its payables/inventory ratio to average 111% over the next decade, approximating AutoZone's pre-pandemic marks.",
    "output": "[Cause] Scale and deepening commercial relationships [Relation] enable [Effect] help O'Reilly curry favor with vendors and efficiently manage inventory",
    "gold": "[Cause] Scale and deepening commercial relationships [Relation] enable [Effect] help O'Reilly curry favor with vendors and efficiently manage inventory",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Scale and deepening commercial relationships should help O'Reilly curry favor with vendors and efficiently manage inventory, leading its payables/inventory ratio to average 111% over the next decade, approximating AutoZone's pre-pandemic marks.",
    "output": "[Cause] Scale and deepening commercial relationships [Relation] enable [Effect] help O'Reilly curry favor with vendors and efficiently manage inventory",
    "gold": "[Cause] help O'Reilly curry favor with vendors and efficiently manage inventory [Relation] enable [Effect] leading its payables/inventory ratio to average 111% over the next decade, approximating AutoZone's pre-pandemic marks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the high level of uncertainty with respect to TransAlta's strategy in the changing Alberta power markets, our pretax cost of debt equals 8%.",
    "output": "[Cause] the high level of uncertainty with respect to TransAlta's strategy in the changing Alberta power markets [Relation] cause [Effect] our pretax cost of debt equals 8%",
    "gold": "[Cause]  the high level of uncertainty with respect to TransAlta's strategy in the changing Alberta power markets [Relation] cause [Effect] our pretax cost of debt equals 8%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the long term, we forecast the growth of Adidas' direct-to-consumer business will boost its margins, which have trended up since 2009, and we think the improvement is permanent as the firm continues to upgrade the efficiency of its supply chain.",
    "output": "[Cause] the growth of Adidas' direct-to-consumer business [Relation] enable [Effect] boost its margins",
    "gold": "[Cause] the firm continues to upgrade the efficiency of its supply chain [Relation] cause [Effect] the improvement is permanent",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the long term, we forecast the growth of Adidas' direct-to-consumer business will boost its margins, which have trended up since 2009, and we think the improvement is permanent as the firm continues to upgrade the efficiency of its supply chain.",
    "output": "[Cause] the firm continues to upgrade the efficiency of its supply chain [Relation] cause [Effect] the improvement is permanent",
    "gold": "[Cause]  the growth of Adidas' direct-to-consumer business [Relation] enable [Effect]  boost its margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "TAL Education has been able to raise 5%-10% of its fees every two to three years on new students or new programs to cover rising costs, driving an improving margin as utilization and operational efficiency Education & Training Servicescontinues to improve.",
    "output": "[Cause] utilization and operational efficiency Education & Training Servicescontinues to improve [Relation] cause [Effect] TAL Education has been able to raise 5%-10% of its fees every two to three years on new students or new programs to cover rising costs, driving an improving margin",
    "gold": "[Cause] utilization and operational efficiency Education & Training Servicescontinues to improve [Relation] cause [Effect] TAL Education has been able to raise 5%-10% of its fees every two to three years on new students or new programs to cover rising costs, driving an improving margin",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are reaffirming our $25 per share fair value estimate after Enable announced that it would merge with Energy Transfer LP.",
    "output": "[Cause] Enable announced that it would merge with Energy Transfer LP [Relation] cause [Effect] We are reaffirming our $25 per share fair value estimate",
    "gold": "[Cause]  Enable announced that it would merge with Energy Transfer LP [Relation] cause [Effect] We are reaffirming our $25 per share fair value estimate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's future oil sands projects could drive significant growth in a better oil price environment, but these projects aren't economical until solvent technology is implemented and oil prices recover, limiting their upside.",
    "output": "[Cause] The company's future oil sands projects [Relation] enable [Effect] drive significant growth in a better oil price environment",
    "gold": "[Cause] The company's future oil sands projects [Relation] enable [Effect] drive significant growth in a better oil price environment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's future oil sands projects could drive significant growth in a better oil price environment, but these projects aren't economical until solvent technology is implemented and oil prices recover, limiting their upside.",
    "output": "[Cause] solvent technology is implemented and oil prices recover [Relation] prevent [Effect] limiting their upside",
    "gold": "[Cause]  solvent technology is implemented and oil prices recover, limiting their upside [Relation] enable [Effect]  economical",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Still, we think Grainger has distinct competitive advantages within its traditional business, such as its long-standing relationships with large customers and its inventory management solutions, which should help the firm earn excess returns over the next 10 years.",
    "output": "[Cause] Grainger has distinct competitive advantages within its traditional business [Relation] enable [Effect] the firm earn excess returns over the next 10 years",
    "gold": "[Cause]  its long-standing relationships with large customers and its inventory management solutions [Relation] enable [Effect]  help the firm earn excess returns over the next 10 years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Thanks to the institutionalization of processes that were inefficient (including labor management, reset efforts, and inventory controls), the operating margin is forecast to reach more than 11% in 2021, up from 9% in 2019.",
    "output": "[Cause] the institutionalization of processes that were inefficient [Relation] cause [Effect] the operating margin is forecast to reach more than 11% in 2021, up from 9% in 2019",
    "gold": "[Cause]  the institutionalization of processes that were inefficient [Relation] enable [Effect] the operating margin is forecast to reach more than 11% in 2021, up from 9% in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thus, we believe that same-store net operating income for Regency should be better insulated from brick-and-mortar retail disruptors than many of its peers given the high-quality nature of the properties and the grocery/service focus of its tenants.",
    "output": "[Cause] the high-quality nature of the properties and the grocery/service focus of its tenants [Relation] cause [Effect] same-store net operating income for Regency should be better insulated from brick-and-mortar retail disruptors than many of its peers",
    "gold": "[Cause] the high-quality nature of the properties and the grocery/service focus of its tenants [Relation] enable [Effect] same-store net operating income for Regency should be better insulated from brick-and-mortar retail disruptors than many of its peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe networking teams are reluctant to change vendors because of VMware's superiority in feature suites, user-friendly graphical user interfaces, and potential network disruption.",
    "output": "[Cause] VMware's superiority in feature suites, user-friendly graphical user interfaces, and potential network disruption [Relation] cause [Effect] networking teams are reluctant to change vendors",
    "gold": "[Cause] VMware's superiority in feature suites, user-friendly graphical user interfaces, and potential network disruption [Relation] cause [Effect] networking teams are reluctant to change vendors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "BioNTech's internal discovery platform is focused on mRNA, including off-the-shelf and personalized mRNA drugs, but opportunistic acquisitions have brought in targeted antibodies and cell therapies as well. As such, BioNTech is not overly reliant on any one key drug candidate or drug class at this point, and the company is poised to tackle cancer via many different mechanisms.",
    "output": "[Cause] BioNTech's internal discovery platform is focused on mRNA, including off-the-shelf and personalized mRNA drugs, but opportunistic acquisitions have brought in targeted antibodies and cell therapies as well [Relation] cause [Effect] BioNTech is not overly reliant on any one key drug candidate or drug class at this point, and the company is poised to tackle cancer via many different mechanisms",
    "gold": "[Cause] BioNTech's internal discovery platform is focused on mRNA, including off-the-shelf and personalized mRNA drugs, but opportunistic acquisitions have brought in targeted antibodies and cell therapies as well [Relation] cause [Effect] BioNTech is not overly reliant on any one key drug candidate or drug class at this point, and the company is poised to tackle cancer via many different mechanisms",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The combination of WBAD, AmerisourceBergen, and Prime manages roughly a third of generic drug volumes which is helpful in pricing negotiations and sourcing.",
    "output": "[Cause] The combination of WBAD, AmerisourceBergen, and Prime manages roughly a third of generic drug volumes [Relation] enable [Effect] helpful in pricing negotiations and sourcing",
    "gold": "[Cause] The combination of WBAD, AmerisourceBergen, and Prime manages roughly a third of generic drug volumes [Relation] enable [Effect] helpful in pricing negotiations and sourcing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the existence of switching costs is supported by the high retention rate it has historically experienced among its client base.",
    "output": "[Cause] the high retention rate it has historically experienced among its client base [Relation] enable [Effect] the existence of switching costs",
    "gold": "[Cause] the high retention rate it has historically experienced among its client base [Relation] enable [Effect] the existence of switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Intel-Mobileye is well-suited to capitalize on the autonomous driving opportunity, given its strategy for scalability and real-time map development.",
    "output": "[Cause] its strategy for scalability and real-time map development [Relation] enable [Effect] Intel-Mobileye is well-suited to capitalize on the autonomous driving opportunity",
    "gold": "[Cause] its strategy for scalability and real-time map development [Relation] enable [Effect] Intel-Mobileye is well-suited to capitalize on the autonomous driving opportunity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of a heavy reliance on new product innovation and increasingly faster speed to commoditization, the consumer electronics retail industry is characterized by intense competition and minimal customer switching costs.",
    "output": "[Cause] a heavy reliance on new product innovation and increasingly faster speed to commoditization [Relation] cause [Effect] the consumer electronics retail industry is characterized by intense competition and minimal customer switching costs",
    "gold": "[Cause] a heavy reliance on new product innovation and increasingly faster speed to commoditization [Relation] cause [Effect] the consumer electronics retail industry is characterized by intense competition and minimal customer switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we believe the pandemic brought forward demand and thus lower our growth rates during our forecast period, we don't expect to see a dramatic reduction from current levels.",
    "output": "[Cause] the pandemic brought forward demand [Relation] cause [Effect] lower our growth rates during our forecast period",
    "gold": "[Cause] the pandemic brought forward demand [Relation] cause [Effect]  lower our growth rates during our forecast period",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Individual titles often face little competition as upstarts have neither the scale that the breadth of Wiley's portfolio provides (easing access to libraries as the firm can offer a bundled set of offerings) nor the prestige that the company's long-established titles have earned.",
    "output": "[Cause] upstarts have neither the scale that the breadth of Wiley's portfolio provides (easing access to libraries as the firm can offer a bundled set of offerings) nor the prestige that the company's long-established titles have earned [Relation] cause [Effect] Individual titles often face little competition",
    "gold": "[Cause] upstarts have neither the scale that the breadth of Wiley's portfolio provides (easing access to libraries as the firm can offer a bundled set of offerings) nor the prestige that the company's long-established titles have earned [Relation] cause [Effect] Individual titles often face little competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While patent protection may not completely deter a competitor as product solutions sometimes have multiple engineering possibilities, the possession of patented technologies makes competitors' task of engineering an alternate solution more difficult.",
    "output": "[Cause] product solutions sometimes have multiple engineering possibilities [Relation] cause [Effect] patent protection may not completely deter a competitor",
    "gold": "[Cause]  product solutions sometimes have multiple engineering possibilities [Relation] cause [Effect]  patent protection may not completely deter a competitor",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With such significant scale in the fragmented health insurance market, we believe CVS benefits from a broad cost advantage by being able to leverage its fixed centralized costs, which increases the profit potential of each marginal life covered by the organization compared with smaller peers.",
    "output": "[Cause] such significant scale in the fragmented health insurance market [Relation] cause [Effect] CVS benefits from a broad cost advantage by being able to leverage its fixed centralized costs",
    "gold": "[Cause] such significant scale in the fragmented health insurance market [Relation] cause [Effect] CVS benefits from a broad cost advantage by being able to leverage its fixed centralized costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With such significant scale in the fragmented health insurance market, we believe CVS benefits from a broad cost advantage by being able to leverage its fixed centralized costs, which increases the profit potential of each marginal life covered by the organization compared with smaller peers.",
    "output": "[Cause] CVS benefits from a broad cost advantage by being able to leverage its fixed centralized costs [Relation] enable [Effect] increases the profit potential of each marginal life covered by the organization compared with smaller peers",
    "gold": "[Cause] CVS benefits from a broad cost advantage by being able to leverage its fixed centralized costs [Relation] cause [Effect] increases the profit potential of each marginal life covered by the organization compared with smaller peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the pace of pension risk transfer to be reasonably steady in the near to medium term but over the long term should decline due to fewer defined benefit plans being offered.",
    "output": "[Cause] fewer defined benefit plans being offered [Relation] cause [Effect] over the long term should decline",
    "gold": "[Cause] fewer defined benefit plans being offered [Relation] cause [Effect] over the long term should decline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Landstar enjoys a variable-cost business model, but its EBIT margin (calculated off net revenue) contracted in 2020 on lower net revenue, higher insurance premiums, and IT investments aimed at transaction automation.",
    "output": "[Cause] lower net revenue, higher insurance premiums, and IT investments aimed at transaction automation [Relation] cause [Effect] its EBIT margin (calculated off net revenue) contracted in 2020",
    "gold": "[Cause] lower net revenue, higher insurance premiums, and IT investments aimed at transaction automation [Relation] cause [Effect] its EBIT margin (calculated off net revenue) contracted in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "First, in our opinion, local markets remain inefficient, and any network effect for Groupon, whether on the consumer side or the merchant side, will be limited given the much smaller local markets that the company targets.",
    "output": "[Cause] the much smaller local markets that the company targets [Relation] cause [Effect] any network effect for Groupon, whether on the consumer side or the merchant side, will be limited",
    "gold": "[Cause]  the much smaller local markets that the company targets [Relation] cause [Effect] any network effect for Groupon, whether on the consumer side or the merchant side, will be limited",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A rise in interest rates would also likely lead to an increase in product surrenders and withdrawals as policyholders would seek better-priced offerings.",
    "output": "[Cause] policyholders would seek better-priced offerings [Relation] cause [Effect] A rise in interest rates would also likely lead to an increase in product surrenders and withdrawals",
    "gold": "[Cause] A rise in interest rates [Relation] cause [Effect] lead to an increase in product surrenders and withdrawals",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe Paycom has a technological edge, providing a unified cloud platform for a business' payroll and HCM needs versus other players, such as ADP, which may have disparate software that requires a whole host of integrations and may not function effectively as a whole.",
    "output": "[Cause] Paycom has a technological edge, providing a unified cloud platform for a business' payroll and HCM needs versus other players, such as ADP, which may have disparate software that requires a whole host of integrations and may not function effectively as a whole [Relation] cause [Effect] Paycom has a technological edge",
    "gold": "[Cause] Paycom has a technological edge, providing a unified cloud platform for a business' payroll and HCM needs versus other players [Relation] cause [Effect] requires a whole host of integrations and may not function effectively as a whole",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "There's risk, but we think KCS is capable of a midcycle OR of 55.8%-56% thanks to PSR-related improvements to asset utilization and network fluidity--KCS' OR showed impressive gains in 2019 and 2020.",
    "output": "[Cause] PSR-related improvements to asset utilization and network fluidity [Relation] cause [Effect] KCS is capable of a midcycle OR of 55.8%-56%",
    "gold": "[Cause] PSR-related improvements to asset utilization and network fluidity [Relation] cause [Effect] KCS is capable of a midcycle OR of 55.8%-56%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In fact, during a downturn in new-vehicle sales, dealers generally report higher gross margins, owing to a favorable mix shift, but then report lower operating margins because of selling, general, and administrative expense deleveraging.",
    "output": "[Cause] selling, general, and administrative expense deleveraging [Relation] cause [Effect] report lower operating margins",
    "gold": "[Cause]  selling, general, and administrative expense deleveraging [Relation] cause [Effect] report lower operating margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It was also the first upstream company to bring completion design in-house, giving it more control over the cost of each well, and it supplies its own water, tubular goods, chemicals, and drilling mud as well.",
    "output": "[Cause] It was also the first upstream company to bring completion design in-house [Relation] enable [Effect] more control over the cost of each well",
    "gold": "[Cause] giving it more control over the cost of each well [Relation] cause [Effect] the first upstream company to bring completion design in-house",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our best quantitative evidence of switching costs from the segment's installed base, given its exposure to the oil and gas industry (at nearly 50% of revenue), is its ability to turn a profit even during large drops in the price of oil.",
    "output": "[Cause] its exposure to the oil and gas industry (at nearly 50% of revenue) [Relation] cause [Effect] Our best quantitative evidence of switching costs from the segment's installed base",
    "gold": "[Cause] Our best quantitative evidence of switching costs from the segment's installed base [Relation] cause [Effect] its exposure to the oil and gas industry (at nearly 50% of revenue)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, such projects often involve mission critical data across many geographies and locations, so large enterprises might be especially risk averse and outsource such projects only to best-of-breed service provides such as Accenture.",
    "output": "[Cause] such projects often involve mission critical data across many geographies and locations [Relation] cause [Effect] large enterprises might be especially risk averse and outsource such projects only to best-of-breed service provides such as Accenture",
    "gold": "[Cause] such projects often involve mission critical data across many geographies and locations [Relation] cause [Effect] large enterprises might be especially risk averse and outsource such projects only to best-of-breed service provides such as Accenture",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "CNOOC is the upstream arm of China's third state-owned oil company, China National Offshore Oil. As a result, it's the most direct option for investors seeking exposure to China's energy security policy and long-term plans to increase its oil supply.",
    "output": "[Cause] CNOOC is the upstream arm of China's third state-owned oil company, China National Offshore Oil [Relation] cause [Effect] it's the most direct option for investors seeking exposure to China's energy security policy and long-term plans to increase its oil supply",
    "gold": "[Cause] CNOOC is the upstream arm of China's third state-owned oil company, China National Offshore Oil [Relation] cause [Effect] it's the most direct option for investors seeking exposure to China's energy security policy and long-term plans to increase its oil supply",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Farfetch has a cost base to support higher revenue, providing opportunity for positive operating leverage as revenue grows.",
    "output": "[Cause] revenue grows [Relation] enable [Effect] providing opportunity for positive operating leverage",
    "gold": "[Cause] revenue grows [Relation] cause [Effect] Farfetch has a cost base to support higher revenue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe Farfetch has a cost base to support higher revenue, providing opportunity for positive operating leverage as revenue grows.",
    "output": "[Cause] revenue grows [Relation] enable [Effect] providing opportunity for positive operating leverage",
    "gold": "[Cause] revenue grows [Relation] cause [Effect] providing opportunity for positive operating leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast Canadian medical volume will grow modestly just 1% per year on average as consumers shift to the recently legalized recreational market.",
    "output": "[Cause] consumers shift to the recently legalized recreational market [Relation] cause [Effect] Canadian medical volume will grow modestly just 1% per year on average",
    "gold": "[Cause] consumers shift to the recently legalized recreational market [Relation] cause [Effect] Canadian medical volume will grow modestly just 1% per year on average",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Switching CostHSBC offers a deep network of connections worldwide to help clients conduct global trade, where banks help customers complete export and import transactions and manage payments and working-capital needs.",
    "output": "[Cause] Switching CostHSBC offers a deep network of connections worldwide [Relation] enable [Effect] help clients conduct global trade",
    "gold": "[Cause] Switching CostHSBC offers a deep network of connections worldwide [Relation] enable [Effect] help clients conduct global trade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "An ageing population will increase the number of individuals looking for advice on preserving and transferring wealth to the next generation.",
    "output": "[Cause] An ageing population [Relation] cause [Effect] increase the number of individuals looking for advice on preserving and transferring wealth to the next generation",
    "gold": "[Cause] An ageing population [Relation] cause [Effect] increase the number of individuals looking for advice on preserving and transferring wealth to the next generation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm is not resting on its laurels, however, as it continues to expand its addressable market by widening the gamut of categories in which it competes.",
    "output": "[Cause] it continues to expand its addressable market by widening the gamut of categories in which it competes [Relation] cause [Effect] The firm is not resting on its laurels",
    "gold": "[Cause] The firm is not resting on its laurels [Relation] cause [Effect] it continues to expand its addressable market by widening the gamut of categories in which it competes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think that the economic cycle in Europe has entered the recovery phase, but a another decline in new-car demand is possible because of government austerity measures that could hamper job growth.",
    "output": "[Cause] government austerity measures that could hamper job growth [Relation] cause [Effect] a another decline in new-car demand is possible",
    "gold": "[Cause] government austerity measures that could hamper job growth [Relation] cause [Effect] a another decline in new-car demand is possible",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the years, there has been a demand for faster, smaller, and more efficient chips to keep pace with the rapid evolution of modern technology.",
    "output": "[Cause] a demand for faster, smaller, and more efficient chips [Relation] enable [Effect] keep pace with the rapid evolution of modern technology",
    "gold": "[Cause] a demand for faster, smaller, and more efficient chips [Relation] enable [Effect] keep pace with the rapid evolution of modern technology",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In March, we reduced our EPS estimates from 2021-2024 by $0.04 to $0.06 per share due in large part to the dilutive impact of our assumption that Con Ed would exit the gas transmission business.",
    "output": "[Cause] the dilutive impact of our assumption that Con Ed would exit the gas transmission business [Relation] cause [Effect] reduced our EPS estimates from 2021-2024 by $0.04 to $0.06 per share",
    "gold": "[Cause]  the dilutive impact of our assumption that Con Ed would exit the gas transmission business [Relation] cause [Effect] reduced our EPS estimates from 2021-2024 by $0.04 to $0.06 per share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Limited options to expand arable land in most regions puts the onus for greater production on higher yields, which should drive strong demand for crop chemicals.",
    "output": "[Cause] Limited options to expand arable land in most regions [Relation] cause [Effect] the onus for greater production on higher yields",
    "gold": "[Cause] Limited options to expand arable land in most regions [Relation] enable [Effect] the onus for greater production on higher yields",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Limited options to expand arable land in most regions puts the onus for greater production on higher yields, which should drive strong demand for crop chemicals.",
    "output": "[Cause] the onus for greater production on higher yields [Relation] cause [Effect] strong demand for crop chemicals",
    "gold": "[Cause] the onus for greater production on higher yields [Relation] cause [Effect] strong demand for crop chemicals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We suspect the high cost of deploying Fios has hampered the ability to use aggressive price promotions to attract new customers.",
    "output": "[Cause] the high cost of deploying Fios [Relation] prevent [Effect] the ability to use aggressive price promotions to attract new customers",
    "gold": "[Cause] the high cost of deploying Fios [Relation] prevent [Effect] the ability to use aggressive price promotions to attract new customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As more complex trials provide room for differentiation, global CROs leverage their expertise to shorten the clinical trial time frame and ensure accuracy and precision.",
    "output": "[Cause] more complex trials provide room for differentiation [Relation] cause [Effect] global CROs leverage their expertise to shorten the clinical trial time frame and ensure accuracy and precision",
    "gold": "[Cause]  more complex trials provide room for differentiation [Relation] cause [Effect] global CROs leverage their expertise to shorten the clinical trial time frame and ensure accuracy and precision",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lastly, while we do not see significant ESG risks, we note Aspen faces strong competition for software engineers on the hiring front and also faces heightened governance risks arising from a history of accounting control issues.",
    "output": "[Cause] a history of accounting control issues [Relation] cause [Effect] faces heightened governance risks",
    "gold": "[Cause]  a history of accounting control issues [Relation] cause [Effect]  faces heightened governance risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As one of the world's leading volume producers, Volkswagen's economies of scale from common platforms across a number of models enable cost savings unattainable by smaller competitors.",
    "output": "[Cause] Volkswagen's economies of scale from common platforms across a number of models [Relation] enable [Effect] cost savings unattainable by smaller competitors",
    "gold": "[Cause] Volkswagen's economies of scale from common platforms across a number of models [Relation] enable [Effect] cost savings unattainable by smaller competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "BMW's products are highly engineered, requiring the company to attract and retain highly skilled human capital with expertise in software and various engineering disciplines.",
    "output": "[Cause] BMW's products are highly engineered [Relation] cause [Effect] requiring the company to attract and retain highly skilled human capital with expertise in software and various engineering disciplines",
    "gold": "[Cause] BMW's products are highly engineered [Relation] cause [Effect] requiring the company to attract and retain highly skilled human capital with expertise in software and various engineering disciplines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, because we do not anticipate the importance of aggregates in construction diminishing, transportation costs to fall, or new quarry permits to become easier to obtain, we think Vulcan's competitive advantage is sustainable for more than 10 years.",
    "output": "[Cause] we do not anticipate the importance of aggregates in construction diminishing, transportation costs to fall, or new quarry permits to become easier to obtain [Relation] cause [Effect] Vulcan's competitive advantage is sustainable for more than 10 years",
    "gold": "[Cause]  we do not anticipate the importance of aggregates in construction diminishing, transportation costs to fall, or new quarry permits to become easier to obtain [Relation] cause [Effect] Vulcan's competitive advantage is sustainable for more than 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lear generates better return on invested capital than some suppliers with higher margin owing to the relatively lighter capital investment needed for seat and wire harness assembly.",
    "output": "[Cause] the relatively lighter capital investment needed for seat and wire harness assembly [Relation] cause [Effect] Lear generates better return on invested capital than some suppliers with higher margin",
    "gold": "[Cause] the relatively lighter capital investment needed for seat and wire harness assembly [Relation] cause [Effect] Lear generates better return on invested capital than some suppliers with higher margin",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From the perspective of a consumer-packaged goods manufacturer, these items are typically conducive to direct-store delivery because their sales tend to be more responsive to in-store merchandising and their high turnover requires lower lead times for restocks.",
    "output": "[Cause] their sales tend to be more responsive to in-store merchandising and their high turnover requires lower lead times for restocks [Relation] cause [Effect] these items are typically conducive to direct-store delivery",
    "gold": "[Cause] their sales tend to be more responsive to in-store merchandising and their high turnover requires lower lead times for restocks [Relation] enable [Effect] these items are typically conducive to direct-store delivery",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a persistent deficit, lower tax receipts anticipated this year, and a stimulus program in the 15%-20% range of 2019 GDP to deal with the fallout from the coronavirus, the safety of government-issued securities is far from guaranteed.",
    "output": "[Cause] a persistent deficit, lower tax receipts anticipated this year, and a stimulus program in the 15%-20% range of 2019 GDP to deal with the fallout from the coronavirus [Relation] cause [Effect] the safety of government-issued securities is far from guaranteed",
    "gold": "[Cause] a persistent deficit, lower tax receipts anticipated this year, and a stimulus program in the 15%-20% range of 2019 GDP to deal with the fallout from the coronavirus [Relation] cause [Effect] the safety of government-issued securities is far from guaranteed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even before COVID-19 disruptions, we believed China was likely entering a period of normalized mid-single-digit GDP growth as it transitions away from being a government- and export-driven economy.",
    "output": "[Cause] it transitions away from being a government- and export-driven economy [Relation] cause [Effect] China was likely entering a period of normalized mid-single-digit GDP growth",
    "gold": "[Cause] it transitions away from being a government- and export-driven economy [Relation] cause [Effect] China was likely entering a period of normalized mid-single-digit GDP growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The high level of customization and risk from a seal failure due to faulty repair drives most of John Crane's customers to use the firm to maintain the seal.",
    "output": "[Cause] faulty repair [Relation] cause [Effect] The high level of customization and risk from a seal failure",
    "gold": "[Cause] The high level of customization and risk from a seal failure due to faulty repair [Relation] enable [Effect] most of John Crane's customers to use the firm to maintain the seal",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, the renewables space entails risk of lower returns and is highly competitive, therefore a focus on core oil and gas business should not detract from Petrobras' prospects.",
    "output": "[Cause] the renewables space entails risk of lower returns and is highly competitive [Relation] cause [Effect] a focus on core oil and gas business should not detract from Petrobras' prospects",
    "gold": "[Cause]  a focus on core oil and gas business should not detract from Petrobras' prospects [Relation] enable [Effect] the renewables space entails risk of lower returns and is highly competitive",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, an increasing share of its own independent activities and assets outside China have raised CNOOC's all-in costs since 2008.",
    "output": "[Cause] an increasing share of its own independent activities and assets outside China [Relation] cause [Effect] raised CNOOC's all-in costs since 2008",
    "gold": "[Cause] an increasing share of its own independent activities and assets outside China [Relation] cause [Effect] raised CNOOC's all-in costs since 2008",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, in 2008 when grain prices soared as a significant portion of corn was diverted for ethanol fuel, the Jennie-O turkey segment's operating margins fell to 6.0% from 8.5% the prior year.",
    "output": "[Cause] grain prices soared [Relation] cause [Effect] the Jennie-O turkey segment's operating margins fell to 6.0% from 8.5% the prior year",
    "gold": "[Cause] a significant portion of corn was diverted for ethanol fuel [Relation] cause [Effect] grain prices soared",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For example, in 2008 when grain prices soared as a significant portion of corn was diverted for ethanol fuel, the Jennie-O turkey segment's operating margins fell to 6.0% from 8.5% the prior year.",
    "output": "[Cause] grain prices soared [Relation] cause [Effect] the Jennie-O turkey segment's operating margins fell to 6.0% from 8.5% the prior year",
    "gold": "[Cause] grain prices soared [Relation] cause [Effect]  the Jennie-O turkey segment's operating margins fell to 6.0% from 8.5% the prior year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that hedge funds have high fees, they are less sensitive to the basis points paid for fund administration.",
    "output": "[Cause] hedge funds have high fees [Relation] cause [Effect] they are less sensitive to the basis points paid for fund administration",
    "gold": "[Cause] hedge funds have high fees [Relation] cause [Effect] they are less sensitive to the basis points paid for fund administration",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And when combined, we think Lamb Weston's cost advantages, servicing proficiency, and long-standing customer relationships should ensure its market dominance prevails for at least the next 10 years.",
    "output": "[Cause] long-standing customer relationships [Relation] enable [Effect] ensure its market dominance prevails for at least the next 10 years",
    "gold": "[Cause] long-standing customer relationships [Relation] cause [Effect] ensure its market dominance prevails for at least the next 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Duke Realty's existing facilities should benefit initially, we see this benefit waning as the market becomes more mature and competitive and expiring rents are renewed at lower spreads.",
    "output": "[Cause] the market becomes more mature and competitive [Relation] cause [Effect] we see this benefit waning",
    "gold": "[Cause] expiring rents are renewed at lower spreads [Relation] cause [Effect] this benefit waning",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We see high uncertainty around HCA's cash flows due to the company's substantial financial leverage, significant fixed costs, and the potential for healthcare policy changes that could materially alter HCA's financial prospects, eventually.",
    "output": "[Cause] the company's substantial financial leverage, significant fixed costs, and the potential for healthcare policy changes [Relation] cause [Effect] materially alter HCA's financial prospects, eventually",
    "gold": "[Cause] the company's substantial financial leverage, significant fixed costs, and the potential for healthcare policy changes [Relation] cause [Effect] We see high uncertainty around HCA's cash flows",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think Intuit's greatest risk associated with QuickBooks is the possibility of a current small-business software provider like Stripe or Shopify entering the accounting space, which could create compelling reasons to switch from QuickBooks.",
    "output": "[Cause] the possibility of a current small-business software provider like Stripe or Shopify entering the accounting space [Relation] cause [Effect] Intuit's greatest risk associated with QuickBooks",
    "gold": "[Cause] the possibility of a current small-business software provider like Stripe or Shopify entering the accounting space [Relation] cause [Effect] compelling reasons to switch from QuickBooks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think Intuit's greatest risk associated with QuickBooks is the possibility of a current small-business software provider like Stripe or Shopify entering the accounting space, which could create compelling reasons to switch from QuickBooks.",
    "output": "[Cause] the possibility of a current small-business software provider like Stripe or Shopify entering the accounting space [Relation] cause [Effect] compelling reasons to switch from QuickBooks",
    "gold": "[Cause] the possibility of a current small-business software provider like Stripe or Shopify entering the accounting space [Relation] cause [Effect] Intuit's greatest risk associated with QuickBooks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Incyte's PI3K-delta inhibitor parsaclisib is being combined with Jakafi in pivotal myelofibrosis trials, which could lead to a fixed-dose combination regimen that refreshes this franchise beyond Jakafi's patent expiration.",
    "output": "[Cause] Incyte's PI3K-delta inhibitor parsaclisib is being combined with Jakafi in pivotal myelofibrosis trials [Relation] cause [Effect] a fixed-dose combination regimen that refreshes this franchise beyond Jakafi's patent expiration",
    "gold": "[Cause] Incyte's PI3K-delta inhibitor parsaclisib is being combined with Jakafi in pivotal myelofibrosis trials [Relation] enable [Effect] a fixed-dose combination regimen that refreshes this franchise beyond Jakafi's patent expiration",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Tinder users become older and begin looking for more serious and long-term relationships, they are likely to remain within Match Group's ecosystem or portfolio of products, seek the marriage-type on Match.com, and be willing to pay for it a bit more, too.",
    "output": "[Cause] Tinder users become older and begin looking for more serious and long-term relationships [Relation] cause [Effect] they are likely to remain within Match Group's ecosystem or portfolio of products, seek the marriage-type on Match.com, and be willing to pay for it a bit more, too",
    "gold": "[Cause] Tinder users become older and begin looking for more serious and long-term relationships [Relation] cause [Effect] they are likely to remain within Match Group's ecosystem or portfolio of products, seek the marriage-type on Match.com, and be willing to pay for it a bit more, too",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Foreign banks have not made a serious dent in the domestic majors' market share, while the smaller regional banks compete on service and local brand recognition but face higher wholesale funding costs than the majors and are unable to undercut on price.",
    "output": "[Cause] face higher wholesale funding costs than the majors and are unable to undercut on price [Relation] cause [Effect] the smaller regional banks compete on service and local brand recognition",
    "gold": "[Cause]  the smaller regional banks compete on service and local brand recognition [Relation] cause [Effect] face higher wholesale funding costs than the majors and are unable to undercut on price",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As the firm has only modest international brick-and-mortar exposure at this point, we assume that any new location growth overseas will be taken on methodically.",
    "output": "[Cause] the firm has only modest international brick-and-mortar exposure at this point [Relation] cause [Effect] any new location growth overseas will be taken on methodically",
    "gold": "[Cause]  the firm has only modest international brick-and-mortar exposure at this point [Relation] cause [Effect] any new location growth overseas will be taken on methodically",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "SocGen has been a defendant in a slew of lawsuits alleging malpractice since the 2008 global financial crisis, costing shareholders billions in fines, settlements and fees.",
    "output": "[Cause] the 2008 global financial crisis [Relation] cause [Effect] SocGen has been a defendant in a slew of lawsuits alleging malpractice",
    "gold": "[Cause]  2008 global financial crisis [Relation] cause [Effect] costing shareholders billions in fines, settlements and fees",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company is exposed to the risk of potentially losing market share to competitors if its trials lag on quality.",
    "output": "[Cause] its trials lag on quality [Relation] cause [Effect] The company is exposed to the risk of potentially losing market share to competitors",
    "gold": "[Cause] The company is exposed to the risk of potentially [Relation] cause [Effect] losing market share to competitors if its trials lag on quality",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Ventas then had to transition or sell the bottom half of assets, which resulted in an overall loss of rent to Ventas.",
    "output": "[Cause] Ventas then had to transition or sell the bottom half of assets [Relation] cause [Effect] an overall loss of rent to Ventas",
    "gold": "[Cause] Ventas then had to transition or sell the bottom half of assets [Relation] cause [Effect] an overall loss of rent to Ventas",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Unlike most real estate subsectors, cold storage space is largely measured by cubic square feet since space is used vertically, with newer facilities boasting ceiling heights as tall as 140 feet.",
    "output": "[Cause] space is used vertically [Relation] cause [Effect] cold storage space is largely measured by cubic square feet",
    "gold": "[Cause]  space is used vertically [Relation] cause [Effect] newer facilities boasting ceiling heights as tall as 140 feet",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, the success of Glaxo's recent expansion into vaccines and consumer products with assets from Novartis is largely dependent on margin expansion, which may be challenging, given the high level of competition in these markets.",
    "output": "[Cause] margin expansion [Relation] cause [Effect] the success of Glaxo's recent expansion into vaccines and consumer products with assets from Novartis",
    "gold": "[Cause] margin expansion [Relation] cause [Effect] the success of Glaxo's recent expansion into vaccines and consumer products with assets from Novartis",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These developments are still in the early stages, and we think it will be a tough road to monetize these on a large scale--given digital print's often niche use in short-run product lines.",
    "output": "[Cause] digital print's often niche use in short-run product lines [Relation] cause [Effect] a tough road to monetize these on a large scale",
    "gold": "[Cause] digital print's often niche use in short-run product lines [Relation] cause [Effect]  a tough road to monetize these on a large scale",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The pharmaceutical division is benefiting from resilient demand for nasal inhalers and vaccine-related sales, while the beauty and home, and food and beverage segments are seeing rebound growth as global economic growth returns to a prepandemic level.",
    "output": "[Cause] global economic growth returns to a prepandemic level [Relation] cause [Effect] the beauty and home, and food and beverage segments are seeing rebound growth",
    "gold": "[Cause] global economic growth returns to a prepandemic level [Relation] enable [Effect] the beauty and home, and food and beverage segments are seeing rebound growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Public and mutual banks in Germany follow a regional principle ruling out competition among member banks, while back-office infrastructures are shared to reduce costs. As such, private commercial banks compete against few large networks of regionally focused banks as well as other private commercial banks rather than many small, local and independent banks.",
    "output": "[Cause] Public and mutual banks in Germany follow a regional principle ruling out competition among member banks, while back-office infrastructures are shared to reduce costs [Relation] cause [Effect] private commercial banks compete against few large networks of regionally focused banks as well as other private commercial banks rather than many small, local and independent banks",
    "gold": "[Cause] Public and mutual banks in Germany follow a regional principle ruling out competition among member banks, while back-office infrastructures are shared to reduce costs [Relation] cause [Effect] private commercial banks compete against few large networks of regionally focused banks as well as other private commercial banks rather than many small, local and independent banks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Petrobras runs the typical risks like integrated peers as its primary risk lies with the possibility that oil and gas prices will fall, damaging profitability and preventing economical development of reserves.",
    "output": "[Cause] its primary risk lies with the possibility that oil and gas prices will fall [Relation] cause [Effect] Petrobras runs the typical risks like integrated peers",
    "gold": "[Cause] its primary risk lies with the possibility that oil and gas prices will fall [Relation] cause [Effect] Petrobras runs the typical risks like integrated peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Petrobras runs the typical risks like integrated peers as its primary risk lies with the possibility that oil and gas prices will fall, damaging profitability and preventing economical development of reserves.",
    "output": "[Cause] its primary risk lies with the possibility that oil and gas prices will fall [Relation] cause [Effect] Petrobras runs the typical risks like integrated peers",
    "gold": "[Cause] its primary risk lies with the possibility that oil and gas prices will fall [Relation] prevent [Effect] profitability and preventing economical development of reserves",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Robinson enjoys a variable-cost business model, but its adjusted EBIT margin (calculated off net revenue) contracted in 2020 due in large part lower net revenue and Prime integration costs.",
    "output": "[Cause] in large part lower net revenue and Prime integration costs [Relation] cause [Effect] its adjusted EBIT margin (calculated off net revenue) contracted in 2020",
    "gold": "[Cause]  in large part lower net revenue and Prime integration costs [Relation] cause [Effect] its adjusted EBIT margin (calculated off net revenue) contracted in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the pandemic disrupted these trajectories in 2020, we expect the food-service industry will recover as vaccines becomes widely available in 2021, and we expect growth of these popular products will resume.",
    "output": "[Cause] vaccines becomes widely available in 2021 [Relation] cause [Effect] the food-service industry will recover",
    "gold": "[Cause] vaccines becomes widely available in 2021 [Relation] cause [Effect]  the food-service industry will recover",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The competitive position and profitability of the three Gulf Coast refineries should improve with the addition of pipeline capacity to the Gulf Coast and the rise in the availability of discount light crude.",
    "output": "[Cause] the addition of pipeline capacity to the Gulf Coast and the rise in the availability of discount light crude [Relation] enable [Effect] The competitive position and profitability of the three Gulf Coast refineries should improve",
    "gold": "[Cause] the addition of pipeline capacity to the Gulf Coast and the rise in the availability of discount light crude [Relation] cause [Effect] The competitive position and profitability of the three Gulf Coast refineries should improve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Leading-edge memory manufacturing also requires increasingly higher levels of capital expenditures that lead to high fixed costs that become burdensome during industry downturns for firms such as Micron.",
    "output": "[Cause] Leading-edge memory manufacturing also requires increasingly higher levels of capital expenditures [Relation] cause [Effect] high fixed costs",
    "gold": "[Cause] Leading-edge memory manufacturing also requires increasingly higher levels of capital expenditures [Relation] cause [Effect] high fixed costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Longer term, the positive mix impact of premiumization, together with modest operating leverage from volume growth in developing markets, should mean that a steady-state EBIT margin of over 32% is achievable.",
    "output": "[Cause] the positive mix impact of premiumization, together with modest operating leverage from volume growth in developing markets [Relation] enable [Effect] a steady-state EBIT margin of over 32% is achievable",
    "gold": "[Cause] the positive mix impact of premiumization, together with modest operating leverage from volume growth in developing markets [Relation] enable [Effect] a steady-state EBIT margin of over 32% is achievable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The pandemic is likely to accelerate online grocery adoption, a near-term challenge as digital orders are currently less lucrative but a possible long-term opportunity as the Ocado partnership scales and improves economics.",
    "output": "[Cause] the Ocado partnership scales and improves economics [Relation] cause [Effect] a possible long-term opportunity",
    "gold": "[Cause] The pandemic [Relation] enable [Effect] accelerate online grocery adoption",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The pandemic is likely to accelerate online grocery adoption, a near-term challenge as digital orders are currently less lucrative but a possible long-term opportunity as the Ocado partnership scales and improves economics.",
    "output": "[Cause] the Ocado partnership scales and improves economics [Relation] cause [Effect] a possible long-term opportunity",
    "gold": "[Cause] digital orders are currently less lucrative [Relation] cause [Effect] The pandemic is likely to accelerate online grocery adoption, a near-term challenge",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The pandemic is likely to accelerate online grocery adoption, a near-term challenge as digital orders are currently less lucrative but a possible long-term opportunity as the Ocado partnership scales and improves economics.",
    "output": "[Cause] the Ocado partnership scales and improves economics [Relation] cause [Effect] a possible long-term opportunity",
    "gold": "[Cause] the Ocado partnership scales and improves economics [Relation] cause [Effect] a possible long-term opportunity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With organic contributions from existing towers contributing a greater proportion of revenue growth, we see operating margin for the U.S.",
    "output": "[Cause] organic contributions from existing towers contributing a greater proportion of revenue growth [Relation] cause [Effect] operating margin for the U.S",
    "gold": "[Cause]  existing towers [Relation] cause [Effect] organic contributions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With organic contributions from existing towers contributing a greater proportion of revenue growth, we see operating margin for the U.S.",
    "output": "[Cause] organic contributions from existing towers contributing a greater proportion of revenue growth [Relation] cause [Effect] operating margin for the U.S",
    "gold": "[Cause] organic contributions [Relation] enable [Effect] a greater proportion of revenue growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We model a compound annual growth rate (CAGR) of 9% over the next five years driven by a transition to cloud delivery and accelerating revenue coming out of 2020 that culminates in sustainable double-digit revenue growth.",
    "output": "[Cause] a transition to cloud delivery and accelerating revenue coming out of 2020 [Relation] cause [Effect] a compound annual growth rate (CAGR) of 9% over the next five years",
    "gold": "[Cause] model a compound annual growth rate (CAGR) of 9% [Relation] cause [Effect] accelerating revenue coming out of 2020 that culminates in sustainable double-digit revenue growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To reduce cost, the underlying structure of a particular vehicle sold in the United States may be the same as another vehicle sold in Europe, South America, or Asia.",
    "output": "[Cause] reduce cost [Relation] cause [Effect] the underlying structure of a particular vehicle sold in the United States may be the same as another vehicle sold in Europe, South America, or Asia",
    "gold": "[Cause] the underlying structure of a particular vehicle sold in the United States may be the same as another vehicle sold in Europe, South America, or Asia [Relation] cause [Effect] reduce cost",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Once on a Humana Medicare Advantage plan, the company encourages preventative care, medication adherence, and improvement of other determinants of care, such as food insecurity and transportation concerns, to control chronic conditions better and prevent a cascade of more costly interventions.",
    "output": "[Cause] the company encourages preventative care, medication adherence, and improvement of other determinants of care [Relation] enable [Effect] control chronic conditions better and prevent a cascade of more costly interventions",
    "gold": "[Cause]  the company encourages preventative care, medication adherence, and improvement of other determinants of care [Relation] enable [Effect] control chronic conditions better and prevent a cascade of more costly interventions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "First, the Keurig brewers would need to be ubiquitous, and to the extent that other brewers existed, the design of Keurig brewers and pods would need to be unique or patented in a way that prevented fungibility across other machines.",
    "output": "[Cause] the Keurig brewers would need to be ubiquitous [Relation] cause [Effect] other brewers existed",
    "gold": "[Cause] the design of Keurig brewers and pods would need to be unique or patented [Relation] enable [Effect] prevented fungibility across other machines",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "First, the Keurig brewers would need to be ubiquitous, and to the extent that other brewers existed, the design of Keurig brewers and pods would need to be unique or patented in a way that prevented fungibility across other machines.",
    "output": "[Cause] the design of Keurig brewers and pods would need to be unique or patented [Relation] prevent [Effect] fungibility across other machines",
    "gold": "[Cause] other brewers existed [Relation] cause [Effect] the Keurig brewers would need to be ubiquitous",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Empire State Realty is hit even harder than New York office peers because its portfolio of older buildings is unable to compete with newer, more premium build-outs.",
    "output": "[Cause] its portfolio of older buildings is unable to compete with newer, more premium build-outs [Relation] cause [Effect] Empire State Realty is hit even harder than New York office peers",
    "gold": "[Cause] its portfolio of older buildings is unable to compete with newer, more premium build-outs [Relation] cause [Effect] Empire State Realty is hit even harder than New York office peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe selling, general, and administrative spending is more flexible than cost of sales and expect Syneos to cut operating spending throughout the forecast period, especially as integrated clinical and commercial solutions grow. This results in a midcycle operating margin of about 11%, slightly lower than peers but a sizable improvement from 7.3% in 2019.",
    "output": "[Cause] selling, general, and administrative spending is more flexible than cost of sales and expect Syneos to cut operating spending throughout the forecast period, especially as integrated clinical and commercial solutions grow [Relation] cause [Effect] a midcycle operating margin of about 11%, slightly lower than peers but a sizable improvement from 7.3% in 2019",
    "gold": "[Cause] selling, general, and administrative spending is more flexible than cost of sales and expect Syneos to cut operating spending throughout the forecast period, especially as integrated clinical and commercial solutions grow [Relation] cause [Effect]  a midcycle operating margin of about 11%, slightly lower than peers but a sizable improvement from 7.3% in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Greater consumer awareness around this reality should support ongoing packaging mix shifts toward aluminum for malt beverages, which could pressure Boston Beer's supply chain.",
    "output": "[Cause] Greater consumer awareness around this reality should support ongoing packaging mix shifts toward aluminum for malt beverages [Relation] cause [Effect] pressure Boston Beer's supply chain",
    "gold": "[Cause] Greater consumer awareness around this reality should support ongoing packaging mix shifts toward aluminum for malt beverages [Relation] cause [Effect]  pressure Boston Beer's supply chain",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe it is unlikely that governments would significantly overissue licenses as Oregon's mistake has served as a lesson for regulators to have a more deliberate pace in license issuance.",
    "output": "[Cause] Oregon's mistake [Relation] cause [Effect] regulators to have a more deliberate pace in license issuance",
    "gold": "[Cause] Oregon's mistake [Relation] enable [Effect]  regulators to have a more deliberate pace in license issuance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe it is unlikely that governments would significantly overissue licenses as Oregon's mistake has served as a lesson for regulators to have a more deliberate pace in license issuance.",
    "output": "[Cause] Oregon's mistake has served as a lesson for regulators to have a more deliberate pace in license issuance [Relation] cause [Effect] it is unlikely that governments would significantly overissue licenses",
    "gold": "[Cause] Oregon's mistake has served as a lesson for regulators to have a more deliberate pace in license issuance [Relation] cause [Effect] it is unlikely that governments would significantly overissue licenses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After a COVID-19-related mid-double-digit decline in 2020, catalyst sales will recover, then grow at low- to mid-single-digit rates as FCC sales grow broadly in line with transportation fuel demand and HPC sales recover from trough levels following the collapse of oil prices.",
    "output": "[Cause] FCC sales grow broadly in line with transportation fuel demand and HPC sales recover from trough levels following the collapse of oil prices [Relation] cause [Effect] catalyst sales will recover, then grow at low- to mid-single-digit rates",
    "gold": "[Cause] After a COVID-19-related mid-double-digit decline in 2020 [Relation] cause [Effect] catalyst sales will recover, then grow at low- to mid-single-digit rates as FCC sales grow broadly in line with transportation fuel demand and HPC sales recover from trough levels following the collapse of oil prices.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, Tyler benefits from a fragmented market that includes no companies at anywhere near its size or scale that are focused on the local public institution market.",
    "output": "[Cause] no companies at anywhere near its size or scale that are focused on the local public institution market [Relation] cause [Effect] Tyler benefits from a fragmented market",
    "gold": "[Cause]  no companies at anywhere near its size or scale that are focused on the local public institution market [Relation] enable [Effect] Tyler benefits from a fragmented market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of its enviable Permian Basin acreage, Diamondback Energy is the lowest-cost producer in the upstream oil and gas segment.",
    "output": "[Cause] its enviable Permian Basin acreage [Relation] cause [Effect] Diamondback Energy is the lowest-cost producer in the upstream oil and gas segment",
    "gold": "[Cause]  its enviable Permian Basin acreage [Relation] cause [Effect] Diamondback Energy is the lowest-cost producer in the upstream oil and gas segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The coronavirus pandemic is causing significant disruption for Post's food-service business (29% of sales) and is also impacting BellRing Brands (15% of revenue), as 25% of these nutritional products are consumed at gyms and other away-from-home venues.",
    "output": "[Cause] The coronavirus pandemic [Relation] cause [Effect] significant disruption for Post's food-service business (29% of sales) and is also impacting BellRing Brands (15% of revenue)",
    "gold": "[Cause] 25% of these nutritional products are consumed at gyms and other away-from-home venues [Relation] cause [Effect] The coronavirus pandemic is causing significant disruption for Post's food-service business (29% of sales) and is also impacting BellRing Brands (15% of revenue)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The coronavirus pandemic is causing significant disruption for Post's food-service business (29% of sales) and is also impacting BellRing Brands (15% of revenue), as 25% of these nutritional products are consumed at gyms and other away-from-home venues.",
    "output": "[Cause] 25% of these nutritional products are consumed at gyms and other away-from-home venues [Relation] cause [Effect] impacting BellRing Brands (15% of revenue)",
    "gold": "[Cause] The coronavirus pandemic [Relation] cause [Effect] causing significant disruption for Post's food-service business (29% of sales) and is also impacting BellRing Brands (15% of revenue)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This allows us to capture the significant volume growth that the company is likely to realize in the coming decade and the convergence of realized prices with prevailing market prices as older long-term contracts struck at significantly lower uranium prices roll off the books.",
    "output": "[Cause] older long-term contracts struck at significantly lower uranium prices roll off the books [Relation] enable [Effect] the convergence of realized prices with prevailing market prices",
    "gold": "[Cause] older long-term contracts struck at significantly lower uranium prices roll off the books [Relation] enable [Effect]  the convergence of realized prices with prevailing market prices | the significant volume growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, Expedia faces ESG risks around innovation tax code changes, data breaches, and potential fees should its platform be viewed as anti-competitive.",
    "output": "[Cause] innovation tax code changes, data breaches, and potential fees should its platform be viewed as anti-competitive [Relation] cause [Effect] Expedia faces ESG risks",
    "gold": "[Cause] innovation tax code changes, data breaches, and potential fees should its platform be viewed as anti-competitive [Relation] cause [Effect]  Expedia faces ESG risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our forecast balances near-term pain and longer-term growth, with the firm's pretax margin remaining depressed until fiscal 2022 as coronavirus-related operating costs and accelerated amortization (due to the firm's closure of 800 units in the Americas segment) weigh on results.",
    "output": "[Cause] coronavirus-related operating costs and accelerated amortization (due to the firm's closure of 800 units in the Americas segment) weigh on results [Relation] cause [Effect] the firm's pretax margin remaining depressed until fiscal 2022",
    "gold": "[Cause] the firm's closure of 800 units in the Americas segment [Relation] cause [Effect] accelerated amortization",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our forecast balances near-term pain and longer-term growth, with the firm's pretax margin remaining depressed until fiscal 2022 as coronavirus-related operating costs and accelerated amortization (due to the firm's closure of 800 units in the Americas segment) weigh on results.",
    "output": "[Cause] coronavirus-related operating costs and accelerated amortization (due to the firm's closure of 800 units in the Americas segment) weigh on results [Relation] cause [Effect] the firm's pretax margin remaining depressed until fiscal 2022",
    "gold": "[Cause] coronavirus-related operating costs and accelerated amortization (due to the firm's closure of 800 units in the Americas segment) weigh on results [Relation] cause [Effect] the firm's pretax margin remaining depressed until fiscal 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Low-cost carriers and ultra-low-cost carriers have tendencies to enter markets and drive returns down for all participants due to an excess of supply for a somewhat fixed pool of demand.",
    "output": "[Cause] an excess of supply for a somewhat fixed pool of demand [Relation] cause [Effect] Low-cost carriers and ultra-low-cost carriers have tendencies to enter markets and drive returns down for all participants",
    "gold": "[Cause]  an excess of supply for a somewhat fixed pool of demand [Relation] cause [Effect] Low-cost carriers and ultra-low-cost carriers have tendencies to enter markets and drive returns down for all participants",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The high cost of specialty pharmaceutical drugs has offset some of the declines stemming from the introduction of fewer branded drugs, but overall operating margins relative to displaced branded drugs are likely lower.",
    "output": "[Cause] the introduction of fewer branded drugs [Relation] cause [Effect] The high cost of specialty pharmaceutical drugs has offset some of the declines",
    "gold": "[Cause]  high cost of specialty pharmaceutical drugs [Relation] prevent [Effect] some of the declines",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The high cost of specialty pharmaceutical drugs has offset some of the declines stemming from the introduction of fewer branded drugs, but overall operating margins relative to displaced branded drugs are likely lower.",
    "output": "[Cause] the introduction of fewer branded drugs [Relation] prevent [Effect] some of the declines",
    "gold": "[Cause]  the introduction of fewer branded drugs [Relation] cause [Effect] some of the declines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, since Huntington Ingalls acquired, rather than developed, these businesses, we think that any excess return on capital from the autonomous business is likely offset by additional goodwill on the balance sheet.",
    "output": "[Cause] Huntington Ingalls acquired, rather than developed, these businesses [Relation] cause [Effect] any excess return on capital from the autonomous business is likely offset by additional goodwill on the balance sheet",
    "gold": "[Cause] Huntington Ingalls acquired, rather than developed, these businesses [Relation] cause [Effect] any excess return on capital from the autonomous business is likely offset by additional goodwill on the balance sheet",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Of note, a potential merger with Kansas City Southern (if CN wins the bidding war with Canadian Pacific) will carry integration risk and the related threat of material overpayment for KCS should synergies fail to materialize.",
    "output": "[Cause] a potential merger with Kansas City Southern (if CN wins the bidding war with Canadian Pacific) will carry integration risk [Relation] cause [Effect] the related threat of material overpayment for KCS should synergies fail to materialize",
    "gold": "[Cause]  a potential merger with Kansas City Southern (if CN wins the bidding war with Canadian Pacific) will carry integration risk [Relation] prevent [Effect] the related threat of material overpayment for KCS should synergies fail to materialize",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With its extensive manufacturing and distribution network, we believe McCormick operates with lower unit and distribution costs, as well as greater supply chain efficiency and an enhanced ability to leverage brand spending, than smaller peers.",
    "output": "[Cause] its extensive manufacturing and distribution network [Relation] cause [Effect] McCormick operates with lower unit and distribution costs, as well as greater supply chain efficiency and an enhanced ability to leverage brand spending, than smaller peers",
    "gold": "[Cause] its extensive manufacturing and distribution network [Relation] cause [Effect]  McCormick operates with lower unit and distribution costs, as well as greater supply chain efficiency and an enhanced ability to leverage brand spending, than smaller peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This pricing premium is greatest in deep-water oil and gas, owing greatly to the high and heterogeneous well complexities that have prevented this market from becoming commoditized to the same degree as casing services for most onshore wells.",
    "output": "[Cause] the high and heterogeneous well complexities [Relation] cause [Effect] This pricing premium is greatest in deep-water oil and gas",
    "gold": "[Cause] This pricing premium is greatest in deep-water oil and gas [Relation] cause [Effect]  the high and heterogeneous well complexities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This pricing premium is greatest in deep-water oil and gas, owing greatly to the high and heterogeneous well complexities that have prevented this market from becoming commoditized to the same degree as casing services for most onshore wells.",
    "output": "[Cause] the high and heterogeneous well complexities [Relation] prevent [Effect] this market from becoming commoditized to the same degree as casing services for most onshore wells",
    "gold": "[Cause]  the high and heterogeneous well complexities [Relation] prevent [Effect] this market from becoming commoditized to the same degree as casing services for most onshore wells",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Money market funds are also facing increased pressure from low-cost ultrashort bond funds and ETFs, which we feel will keep the industry from ever seeing the 26-27 basis point management fees its products generated before the 2008-09 financial crisis.",
    "output": "[Cause] Money market funds are also facing increased pressure from low-cost ultrashort bond funds and ETFs [Relation] cause [Effect] keep the industry from ever seeing the 26-27 basis point management fees its products generated before the 2008-09 financial crisis",
    "gold": "[Cause] Money market funds are also facing increased pressure from low-cost ultrashort bond funds and ETFs [Relation] cause [Effect] keep the industry from ever seeing the 26-27 basis point management fees its products generated before the 2008-09 financial crisis",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Notably, health insurers could play key roles in a public option and could even benefit from the expansion of services provided, if the public option merely expands access to insurance rather than causes significant shifts in insurance sources.",
    "output": "[Cause] the public option merely expands access to insurance rather than causes significant shifts in insurance sources [Relation] cause [Effect] health insurers could play key roles in a public option and could even benefit from the expansion of services provided",
    "gold": "[Cause]  the public option merely expands access to insurance rather than causes significant shifts in insurance sources [Relation] cause [Effect] health insurers could play key roles in a public option and could even benefit from the expansion of services provided",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In Life Sciences, we expect Valor Glass to continue outpacing the pharmaceutical glass market as it takes share and will drive 5% growth for the segment.",
    "output": "[Cause] it takes share and will drive 5% growth for the segment [Relation] cause [Effect] Valor Glass to continue outpacing the pharmaceutical glass market",
    "gold": "[Cause] Valor Glass to continue outpacing the pharmaceutical glass market [Relation] cause [Effect]  it takes share and will drive 5% growth for the segment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Including support for Apple devices, HP's DaaS provides IT teams with insight into computing behavior and analytics so that potential disruptions to end users can be proactively mitigated.",
    "output": "[Cause] HP's DaaS provides IT teams with insight into computing behavior and analytics [Relation] enable [Effect] potential disruptions to end users can be proactively mitigated",
    "gold": "[Cause] HP's DaaS provides IT teams with insight into computing behavior and analytics [Relation] enable [Effect] potential disruptions to end users can be proactively mitigated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These switching costs are partly supported by familiarity, in which clients prefer the continuity of working with the same trusted CRO as it is very familiar with the clients' needs, systems, and methods.",
    "output": "[Cause] it is very familiar with the clients' needs, systems, and methods [Relation] cause [Effect] clients prefer the continuity of working with the same trusted CRO",
    "gold": "[Cause] it is very familiar with the clients' needs, systems, and methods [Relation] cause [Effect] clients prefer the continuity of working with the same trusted CRO",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a network than can be upgraded at modest incremental cost, we expect Internet Comcast will remain the dominant provider in many parts of the country and compete well in areas where the phone companies are building fiber.",
    "output": "[Cause] a network than can be upgraded at modest incremental cost [Relation] cause [Effect] Internet Comcast will remain the dominant provider in many parts of the country and compete well in areas where the phone companies are building fiber",
    "gold": "[Cause] a network than can be upgraded at modest incremental cost [Relation] cause [Effect] Internet Comcast will remain the dominant provider in many parts of the country and compete well in areas where the phone companies are building fiber",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fortinet has increased its presence in the nascent cybersecurity areas of cloud protection and software-defined networking, which we believe provide ample growth opportunities in higher-margin security areas to supplement its vast footprint of FortiGate UTM and firewall appliances.",
    "output": "[Cause] Fortinet has increased its presence in the nascent cybersecurity areas of cloud protection and software-defined networking [Relation] enable [Effect] provide ample growth opportunities in higher-margin security areas to supplement its vast footprint of FortiGate UTM and firewall appliances",
    "gold": "[Cause] Fortinet has increased its presence in the nascent cybersecurity areas of cloud protection and software-defined networking [Relation] enable [Effect] provide ample growth opportunities in higher-margin security areas to supplement its vast footprint of FortiGate UTM and firewall appliances",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the combined ratio in the company's P&C operations to improve over the next few years as adverse development rolls off and the company reduces its fixed costs.",
    "output": "[Cause] adverse development rolls off and the company reduces its fixed costs [Relation] cause [Effect] the combined ratio in the company's P&C operations to improve over the next few years",
    "gold": "[Cause] adverse development rolls off and the company reduces its fixed costs [Relation] enable [Effect] the combined ratio in the company's P&C operations to improve over the next few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We suspect the firm will have an opportunity to gain some market share in the coming quarters as T-Mobile integrates Sprint, but we expect only modest growth over the long term.",
    "output": "[Cause] T-Mobile integrates Sprint [Relation] enable [Effect] the firm will have an opportunity to gain some market share in the coming quarters",
    "gold": "[Cause] T-Mobile integrates Sprint [Relation] cause [Effect] the firm will have an opportunity to gain some market share in the coming quarters",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A dual camera/mirror system provides a redundancy for safety in case a camera's lens is blocked by weather or debris on the lens.",
    "output": "[Cause] weather or debris on the lens [Relation] cause [Effect] a camera's lens is blocked",
    "gold": "[Cause] weather or debris on the lens [Relation] cause [Effect] a camera's lens is blocked",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As telecom networks are expensive to build and maintain, the more customers an operator has on its network, the lower the average cost per subscriber.",
    "output": "[Cause] the more customers an operator has on its network [Relation] cause [Effect] the lower the average cost per subscriber",
    "gold": "[Cause] the more customers an operator has on its network [Relation] cause [Effect] the lower the average cost per subscriber",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The increased competition from single-family homes converting to rental stock and increased development would quickly eliminate any sustained internal growth that the company generates.",
    "output": "[Cause] The increased competition from single-family homes converting to rental stock and increased development [Relation] prevent [Effect] any sustained internal growth that the company generates",
    "gold": "[Cause] The increased competition from single-family homes converting to rental stock and increased development [Relation] prevent [Effect] any sustained internal growth that the company generates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe small cells generate higher margins than fiber solutions sales to enterprises, so a higher mix of small-cell revenue will improve the segment's margins.",
    "output": "[Cause] small cells generate higher margins than fiber solutions sales to enterprises [Relation] cause [Effect] a higher mix of small-cell revenue will improve the segment's margins",
    "gold": "[Cause] small cells generate higher margins than fiber solutions sales to enterprises [Relation] cause [Effect] a higher mix of small-cell revenue will improve the segment's margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect margins to improve fairly dramatically in the years ahead, as Square more fully monetizes its client base and scales.",
    "output": "[Cause] Square more fully monetizes its client base and scales [Relation] cause [Effect] margins to improve fairly dramatically in the years ahead",
    "gold": "[Cause] Square more fully monetizes its client base and scales [Relation] enable [Effect]  margins to improve fairly dramatically in the years ahead",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Other than that, ON Semiconductor acquired Quantenna in 2019 for more than $1 billion to further expand its industrial Internet of Things connectivity offerings by leveraging Quantenna's Wi-Fi capabilities.",
    "output": "[Cause] leveraging Quantenna's Wi-Fi capabilities [Relation] enable [Effect] further expand its industrial Internet of Things connectivity offerings",
    "gold": "[Cause]  leveraging Quantenna's Wi-Fi capabilities [Relation] enable [Effect]  further expand its industrial Internet of Things connectivity offerings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even though the United States-Mexico-Canada Agreement has been ratified, the firm's wine/spirits business may have to contend with fairly cumbersome tariffs if relations between the U.S.",
    "output": "[Cause] relations between the U.S [Relation] cause [Effect] the firm's wine/spirits business may have to contend with fairly cumbersome tariffs",
    "gold": "[Cause] Even though the United States-Mexico-Canada Agreement has been ratified, the firm's wine/spirits business [Relation] cause [Effect]  may have to contend with fairly cumbersome tariffs if relations between the U.S",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the smartphone market is characterized by cutting-edge process technology aimed at adding as many pixels as possible to an image sensor, ON's sensors use fewer, larger pixels that perform exceptionally well in low-light environments and in the face of optical interference. These characteristics make them ideal for ADAS and industrial machine vision applications where there isn't room for failure in any environment.",
    "output": "[Cause] While the smartphone market is characterized by cutting-edge process technology aimed at adding as many pixels as possible to an image sensor, ON's sensors use fewer, larger pixels that perform exceptionally well in low-light environments and in the face of optical interference [Relation] enable [Effect] make them ideal for ADAS and industrial machine vision applications where there isn't room for failure in any environment",
    "gold": "[Cause] While the smartphone market is characterized by cutting-edge process technology aimed at adding as many pixels as possible to an image sensor, ON's sensors use fewer, larger pixels that perform exceptionally well in low-light environments and in the face of optical interference [Relation] cause [Effect] make them ideal for ADAS and industrial machine vision applications where there isn't room for failure in any environment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Groupon is attempting to move from the high-touch approach to more of a self-service approach for merchants, as it has launched the Deal Builder, which allows SMBs to design, create, customize, and place their own discounts on Groupon's marketplace.",
    "output": "[Cause] it has launched the Deal Builder [Relation] enable [Effect] SMBs to design, create, customize, and place their own discounts on Groupon's marketplace",
    "gold": "[Cause]  it has launched the Deal Builder [Relation] cause [Effect] Groupon is attempting to move from the high-touch approach to more of a self-service approach for merchants",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also have a cautiously favorable view of Wiley's $129 million purchase of mthree in early 2020, a talent sourcing, training, and placement firm focused on the information technology sector that should add increasingly to Wiley's competitive standing as it grows.",
    "output": "[Cause] a talent sourcing, training, and placement firm focused on the information technology sector [Relation] enable [Effect] add increasingly to Wiley's competitive standing as it grows",
    "gold": "[Cause] it grows [Relation] cause [Effect] add increasingly to Wiley's competitive standing",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Weaker margins in corrugated packaging, which accounts for roughly two thirds of IP's sales, would weigh on consolidated profit growth.",
    "output": "[Cause] Weaker margins in corrugated packaging [Relation] prevent [Effect] consolidated profit growth",
    "gold": "[Cause] Weaker margins in corrugated packaging [Relation] prevent [Effect] consolidated profit growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cheniere Energy Partners is well positioned to be the exporter of the incremental liquefied natural gas supplied to the global market over the next few years, particularly as demand ramps up from China.",
    "output": "[Cause] demand ramps up from China [Relation] cause [Effect] Cheniere Energy Partners is well positioned to be the exporter of the incremental liquefied natural gas supplied to the global market over the next few years",
    "gold": "[Cause]  demand ramps up from China [Relation] cause [Effect] Cheniere Energy Partners is well positioned to be the exporter of the incremental liquefied natural gas supplied to the global market over the next few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Recent success with the Pixar and Marvel franchises has helped to create new opportunities with adults who may have outgrown their attraction to the company's traditional characters.",
    "output": "[Cause] Recent success with the Pixar and Marvel franchises [Relation] enable [Effect] created new opportunities with adults",
    "gold": "[Cause] Recent success with the Pixar and Marvel franchises has helped to create new opportunities with adults [Relation] prevent [Effect]  may have outgrown their attraction to the company's traditional characters.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We view Baer as well capitalised and we believe its 40% guided payout ratio is conservative and that Baer should be able to return more capital to shareholders, via special dividends or share repurchases, as Baer continues to build up its capital base organically.",
    "output": "[Cause] Baer as well capitalised [Relation] cause [Effect] its 40% guided payout ratio is conservative",
    "gold": "[Cause]  Baer as well capitalised [Relation] cause [Effect] its 40% guided payout ratio is conservative",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We view Baer as well capitalised and we believe its 40% guided payout ratio is conservative and that Baer should be able to return more capital to shareholders, via special dividends or share repurchases, as Baer continues to build up its capital base organically.",
    "output": "[Cause] special dividends or share repurchases [Relation] enable [Effect] Baer should be able to return more capital to shareholders",
    "gold": "[Cause]  Baer continues to build up its capital base organically [Relation] cause [Effect] Baer should be able to return more capital to shareholders",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We view Baer as well capitalised and we believe its 40% guided payout ratio is conservative and that Baer should be able to return more capital to shareholders, via special dividends or share repurchases, as Baer continues to build up its capital base organically.",
    "output": "[Cause] special dividends or share repurchases [Relation] enable [Effect] Baer should be able to return more capital to shareholders",
    "gold": "[Cause] special dividends or share repurchases [Relation] enable [Effect] Baer should be able to return more capital to shareholders",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a profitability expansion commitment amid minimal revenue expansion forecast, we are concerned that concerted cost savings efforts could inhibit Juniper's ability to innovate and market.",
    "output": "[Cause] a profitability expansion commitment amid minimal revenue expansion forecast [Relation] cause [Effect] concerted cost savings efforts could inhibit Juniper's ability to innovate and market",
    "gold": "[Cause] a profitability expansion commitment amid minimal revenue expansion forecast [Relation] cause [Effect] concerted cost savings efforts could inhibit Juniper's ability to innovate and market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Paylocity should benefit from operating leverage, and we expect expansion in GAAP operating margin from 12% in 2020 to 22% in fiscal 2025.",
    "output": "[Cause] Paylocity should benefit from operating leverage [Relation] enable [Effect] expansion in GAAP operating margin from 12% in 2020 to 22% in fiscal 2025",
    "gold": "[Cause] Paylocity should benefit from operating leverage [Relation] enable [Effect] expansion in GAAP operating margin from 12% in 2020 to 22% in fiscal 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the recent margin reset in part reflects management's attempts to rectify this, Reckitt may be vulnerable to shelf space loss if competitors' heavier brand investments lead to share gains.",
    "output": "[Cause] competitors' heavier brand investments lead to share gains [Relation] cause [Effect] Reckitt may be vulnerable to shelf space loss",
    "gold": "[Cause] competitors' heavier brand investments lead to share gains [Relation] cause [Effect] Reckitt may be vulnerable to shelf space loss",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The sector has held up well during the pandemic (consistent with past economic downturns), with a more pronounced surge in DIY sales as customers look to save on repair costs and as many motorists remaining on the job physically are lower-income individuals, the core of the DIY segment.",
    "output": "[Cause] customers look to save on repair costs and as many motorists remaining on the job physically are lower-income individuals [Relation] cause [Effect] a more pronounced surge in DIY sales",
    "gold": "[Cause]  customers look to save on repair costs and as many motorists remaining on the job physically are lower-income individuals [Relation] enable [Effect]  a more pronounced surge in DIY sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a portfolio skewed to the premium segment, Altria must manage the price gap over the discount segment, so this pricing opportunity is likely to be realized over many years.",
    "output": "[Cause] a portfolio skewed to the premium segment [Relation] cause [Effect] Altria must manage the price gap over the discount segment",
    "gold": "[Cause] a portfolio skewed to the premium segment [Relation] cause [Effect] Altria must manage the price gap over the discount segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a portfolio skewed to the premium segment, Altria must manage the price gap over the discount segment, so this pricing opportunity is likely to be realized over many years.",
    "output": "[Cause] Altria must manage the price gap over the discount segment [Relation] cause [Effect] this pricing opportunity is likely to be realized over many years",
    "gold": "[Cause] Altria must manage the price gap over the discount segment [Relation] cause [Effect] this pricing opportunity is likely to be realized over many years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the growth in retrans revenue has been and will continue to be a growth driver for local station owners, we project that national network owners will continue to raise both network affiliation fees and reverse compensation fees, decreasing the bottom-line benefit to Nexstar.",
    "output": "[Cause] national network owners will continue to raise both network affiliation fees and reverse compensation fees [Relation] cause [Effect] decreasing the bottom-line benefit to Nexstar",
    "gold": "[Cause] national network owners will continue to raise both network affiliation fees and reverse compensation fees [Relation] cause [Effect] decreasing the bottom-line benefit to Nexstar",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This provides Nucor with operational flexibility, as it is able to adjust to input cost volatility by selecting the most cost-effective feedstock basket available at any given time.",
    "output": "[Cause] it is able to adjust to input cost volatility by selecting the most cost-effective feedstock basket available at any given time [Relation] enable [Effect] This provides Nucor with operational flexibility",
    "gold": "[Cause] it is able to adjust to input cost volatility by selecting the most cost-effective feedstock basket available at any given time [Relation] cause [Effect] This provides Nucor with operational flexibility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We lowering our fair value estimate slightly to $10.50 per share from $11 after incorporating fourth-quarter 2020 results and tweaking our near-term forecasts.",
    "output": "[Cause] incorporating fourth-quarter 2020 results and tweaking our near-term forecasts [Relation] cause [Effect] We lowering our fair value estimate slightly to $10.50 per share from $11",
    "gold": "[Cause] incorporating fourth-quarter 2020 results and tweaking our near-term forecasts [Relation] cause [Effect] We lowering our fair value estimate slightly to $10.50 per share from $11",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In North and South America, decades of use of glyphosate and other top herbicides have led to growing acres of weed resistance to those chemicals.",
    "output": "[Cause] decades of use of glyphosate and other top herbicides [Relation] cause [Effect] growing acres of weed resistance to those chemicals",
    "gold": "[Cause] decades of use of glyphosate and other top herbicides [Relation] cause [Effect] growing acres of weed resistance to those chemicals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The lease terms include very low annual rent increases around 1%, which helps keep the coverage ratio high but severely limits internal growth for the company.",
    "output": "[Cause] very low annual rent [Relation] cause [Effect] helps keep the coverage ratio high",
    "gold": "[Cause] very low annual rent [Relation] enable [Effect]  helps keep the coverage ratio high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The lease terms include very low annual rent increases around 1%, which helps keep the coverage ratio high but severely limits internal growth for the company.",
    "output": "[Cause] very low annual rent [Relation] prevent [Effect] internal growth for the company",
    "gold": "[Cause] very low annual rent [Relation] prevent [Effect]  internal growth for the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As practices were absorbed by hospitals, larger competitors provided certain extensions of their hospital offerings to integrate practice records, putting even more pressure on the practice segment; this was probably a factor in Athenahealth going private.",
    "output": "[Cause] practices were absorbed by hospitals [Relation] cause [Effect] larger competitors provided certain extensions of their hospital offerings to integrate practice records",
    "gold": "[Cause] As practices were absorbed by hospitals, larger competitors provided certain extensions of their hospital offerings to integrate practice records [Relation] cause [Effect] putting even more pressure on the practice segment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As practices were absorbed by hospitals, larger competitors provided certain extensions of their hospital offerings to integrate practice records, putting even more pressure on the practice segment; this was probably a factor in Athenahealth going private.",
    "output": "[Cause] larger competitors provided certain extensions of their hospital offerings to integrate practice records [Relation] cause [Effect] putting even more pressure on the practice segment",
    "gold": "[Cause] As practices were absorbed by hospitals, larger competitors provided certain extensions of their hospital offerings to integrate practice records, putting even more pressure on the practice segment [Relation] enable [Effect] Athenahealth going private",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "First, we have raised our sales growth rate between 2019-24 so that our 2024 sales forecast moves to $7.5 billion from $7.2 billion prior.",
    "output": "[Cause] we have raised our sales growth rate between 2019-24 [Relation] enable [Effect] our 2024 sales forecast moves to $7.5 billion from $7.2 billion prior",
    "gold": "[Cause] we have raised our sales growth rate between 2019-24 [Relation] cause [Effect] our 2024 sales forecast moves to $7.5 billion from $7.2 billion prior",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Boston will need to invest more in clinical studies to demonstrate superiority of outcomes and/or cost savings in order to establish reimbursement.",
    "output": "[Cause] demonstrate superiority of outcomes and/or cost savings [Relation] enable [Effect] establish reimbursement",
    "gold": "[Cause] demonstrate superiority of outcomes and/or cost savings in order to establish reimbursement [Relation] cause [Effect] Boston will need to invest more in clinical studies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A decade of consolidation in the corrugated packaging industry has allowed International Paper to raise prices more aggressively, lifting margins.",
    "output": "[Cause] A decade of consolidation in the corrugated packaging industry [Relation] enable [Effect] International Paper to raise prices more aggressively, lifting margins",
    "gold": "[Cause] A decade of consolidation in the corrugated packaging industry [Relation] enable [Effect] International Paper to raise prices more aggressively, lifting margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But its earlier packages were again developed with suboptimal spacing, forcing management to target just eight Wolfcamp wells per section going forward (instead of the planned 12).",
    "output": "[Cause] its earlier packages were again developed with suboptimal spacing [Relation] cause [Effect] management to target just eight Wolfcamp wells per section going forward (instead of the planned 12)",
    "gold": "[Cause]  its earlier packages were again developed with suboptimal spacing [Relation] enable [Effect] management to target just eight Wolfcamp wells per section going forward (instead of the planned 12)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Digital Marketing is more dynamic in our view, as it is a newer category that has been somewhat fluid in its evolution as leading stand-alone products have become standard features of a good digital marketing platform.",
    "output": "[Cause] leading stand-alone products have become standard features of a good digital marketing platform [Relation] cause [Effect] Digital Marketing is more dynamic in our view",
    "gold": "[Cause] leading stand-alone products have become standard features of a good digital marketing platform [Relation] cause [Effect] it is a newer category that has been somewhat fluid in its evolution",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We anticipate minimal variations in gross margins from even to odd years, as growth in political media-buying during election years may push prices higher, which could lower demand from the commercial side.",
    "output": "[Cause] growth in political media-buying during election years may push prices higher [Relation] cause [Effect] minimal variations in gross margins from even to odd years",
    "gold": "[Cause] growth in political media-buying during election years may push prices higher [Relation] cause [Effect] lower demand from the commercial side",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Successive technologies improve electrical performance and miniaturization to fit as many transistors as possible onto chips; thus improving performance relative to costs.",
    "output": "[Cause] Successive technologies improve electrical performance and miniaturization to fit as many transistors as possible onto chips [Relation] enable [Effect] improving performance relative to costs",
    "gold": "[Cause] Successive technologies improve electrical performance and miniaturization to fit as many transistors as possible onto chips [Relation] enable [Effect]  improving performance relative to costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the European Central Bank has since started playing a much more active role in the oversight of European banks, which does reduce regional differences and, in our opinion, strengthens the regulatory framework across the continent.",
    "output": "[Cause] the European Central Bank has since started playing a much more active role in the oversight of European banks [Relation] enable [Effect] reduce regional differences",
    "gold": "[Cause]  the European Central Bank has since started playing a much more active role in the oversight of European banks [Relation] cause [Effect] reduce regional differences",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the European Central Bank has since started playing a much more active role in the oversight of European banks, which does reduce regional differences and, in our opinion, strengthens the regulatory framework across the continent.",
    "output": "[Cause] the European Central Bank has since started playing a much more active role in the oversight of European banks [Relation] enable [Effect] strengthens the regulatory framework across the continent",
    "gold": "[Cause]  the European Central Bank has since started playing a much more active role in the oversight of European banks [Relation] cause [Effect] strengthens the regulatory framework across the continent",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we expect the market to become more concentrated over the next two years, as some local manufacturers will fail to meet incoming regulations on formula standards, and appear likely to exit the market.",
    "output": "[Cause] some local manufacturers will fail to meet incoming regulations on formula standards, and appear likely to exit the market [Relation] cause [Effect] the market to become more concentrated over the next two years",
    "gold": "[Cause] some local manufacturers will fail to meet incoming regulations on formula standards, and appear likely to exit the market [Relation] cause [Effect] the market to become more concentrated over the next two years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We cut the revenue forecast for image sensors, as we expect weaker smartphone shipment and worse-than-expected smartphone product mix for fiscal 2021.",
    "output": "[Cause] weaker smartphone shipment and worse-than-expected smartphone product mix for fiscal 2021 [Relation] cause [Effect] We cut the revenue forecast for image sensors",
    "gold": "[Cause] weaker smartphone shipment and worse-than-expected smartphone product mix for fiscal 2021 [Relation] cause [Effect] We cut the revenue forecast for image sensors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, BCE has embarked on a fiber to the home, or FTTH, buildout, which should meaningfully reduce its network costs and strengthen its cost advantage, as its competitors cannot even strive to close the gap in customers, given their smaller networks.",
    "output": "[Cause] its competitors cannot even strive to close the gap in customers [Relation] cause [Effect] BCE has embarked on a fiber to the home, or FTTH, buildout",
    "gold": "[Cause] BCE has embarked on a fiber to the home, or FTTH [Relation] enable [Effect] meaningfully reduce its network costs and strengthen its cost advantage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although PSEG's base allowed return on equity fell to 9.6% from 10.3% as part of a 2018 rate settlement, we expect constructive rate structures and public policy support to enable PSEG to continue producing shareholder value from its multi-billion-dollar investment plan.",
    "output": "[Cause] constructive rate structures and public policy support [Relation] enable [Effect] PSEG to continue producing shareholder value from its multi-billion-dollar investment plan",
    "gold": "[Cause] we expect constructive rate structures and public policy [Relation] enable [Effect] enable PSEG to continue producing shareholder value from its multi-billion-dollar investment plan",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Bolstering its competitive position is the size and scale P&amp;G has amassed over many years, which enables the firm to realize a lower unit cost than its smaller peers, resulting in a cost advantage.",
    "output": "[Cause] the firm to realize a lower unit cost than its smaller peers [Relation] cause [Effect] a cost advantage",
    "gold": "[Cause] the firm to realize a lower unit cost than its smaller peers [Relation] cause [Effect] a cost advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Bolstering its competitive position is the size and scale P&amp;G has amassed over many years, which enables the firm to realize a lower unit cost than its smaller peers, resulting in a cost advantage.",
    "output": "[Cause] the firm to realize a lower unit cost than its smaller peers [Relation] cause [Effect] a cost advantage",
    "gold": "[Cause] amassed over many years [Relation] enable [Effect] the firm to realize a lower unit cost than its smaller peers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Though Bio-Techne's proteins are the most expensive, with pricing up to 40%-50% higher than peers, greater bioactivity (of up to 20 times) can lead to better customer value, despite the higher cost.",
    "output": "[Cause] greater bioactivity (of up to 20 times) [Relation] enable [Effect] better customer value",
    "gold": "[Cause]  greater bioactivity (of up to 20 times) [Relation] cause [Effect]  better customer value",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect mid-single-digit growth in the average daily trading volume of ICE's futures contracts over the next five years as good performance continues in its energy complex.",
    "output": "[Cause] good performance continues in its energy complex [Relation] cause [Effect] mid-single-digit growth in the average daily trading volume of ICE's futures contracts over the next five years",
    "gold": "[Cause] good performance continues in its energy complex [Relation] enable [Effect] mid-single-digit growth in the average daily trading volume of ICE's futures contracts over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Metropolitan areas attract more people to area with sustained economic and job growth, which leads to occupancy growth in apartment buildings.",
    "output": "[Cause] Metropolitan areas attract more people to area with sustained economic and job growth [Relation] cause [Effect] occupancy growth in apartment buildings",
    "gold": "[Cause] Metropolitan areas attract more people to area with sustained economic and job growth [Relation] cause [Effect] occupancy growth in apartment buildings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, the Qingdao refinery disruptions and the oil pipeline blast that killed more than 60 people in 2013 remind us of the risks of Sinopec's refining business while the ongoing low-carbon trends could eventually lower demand for oil and gas.",
    "output": "[Cause] the ongoing low-carbon trends [Relation] cause [Effect] lower demand for oil and gas",
    "gold": "[Cause] the ongoing low-carbon trends [Relation] cause [Effect]  lower demand for oil and gas",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The primary uncertainty is Atmos' ability to achieve timely, constructive regulatory rate adjustments, though the size and breadth of its distribution operations preclude any one regulatory decision from having a drastic impact on earnings.",
    "output": "[Cause] Atmos' ability to achieve timely, constructive regulatory rate adjustments [Relation] cause [Effect] The primary uncertainty",
    "gold": "[Cause] the size and breadth of its distribution operations [Relation] cause [Effect] preclude any one regulatory decision from having a drastic impact on earnings",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The primary uncertainty is Atmos' ability to achieve timely, constructive regulatory rate adjustments, though the size and breadth of its distribution operations preclude any one regulatory decision from having a drastic impact on earnings.",
    "output": "[Cause] the size and breadth of its distribution operations [Relation] prevent [Effect] any one regulatory decision from having a drastic impact on earnings",
    "gold": "[Cause] Atmos' ability to achieve timely, constructive regulatory rate adjustments [Relation] cause [Effect] The primary uncertainty",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also consider Splunk as a leader in the IT operations management and security space, as few firms can address a similar breadth of data use cases.",
    "output": "[Cause] few firms can address a similar breadth of data use cases [Relation] cause [Effect] We also consider Splunk as a leader in the IT operations management and security space",
    "gold": "[Cause] few firms can address a similar breadth of data use cases [Relation] cause [Effect] We also consider Splunk as a leader in the IT operations management and security space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As more users post pins or save pins on their boards, other users benefit as they come across more products and ideas that help answer their questions, Internet Content & Informationcreating a network effect.",
    "output": "[Cause] they come across more products and ideas that help answer their questions, Internet Content & Informationcreating a network effect [Relation] cause [Effect] As more users post pins or save pins on their boards, other users benefit",
    "gold": "[Cause] As more users post pins or save pins on their boards [Relation] cause [Effect] other users benefit as they come across more products and ideas",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Critical and proprietary data sets, analytics tools embedded in client systems, and recurring revenue streams that account for around 85% of its top line underpin a sustainable competitive advantage for IHS Markit, one we believe will intensify as new products mature.",
    "output": "[Cause] Critical and proprietary data sets, analytics tools embedded in client systems, and recurring revenue streams that account for around 85% of its top line [Relation] enable [Effect] a sustainable competitive advantage for IHS Markit",
    "gold": "[Cause] Critical and proprietary data sets, analytics tools embedded in client systems, and recurring revenue streams that account for around 85% of its top line [Relation] enable [Effect] a sustainable competitive advantage for IHS Markit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the firm has historically produced one third of its top-line growth inorganically, any slowdown in M&A could slow growth prospects.",
    "output": "[Cause] the firm has historically produced one third of its top-line growth inorganically [Relation] cause [Effect] any slowdown in M&A could slow growth prospects",
    "gold": "[Cause] any slowdown in M&A [Relation] cause [Effect] slow growth prospects",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Enbridge's profitability is not directly tied to commodity prices, as pipeline transportation costs are not tied to the price of natural gas and crude oil.",
    "output": "[Cause] pipeline transportation costs are not tied to the price of natural gas and crude oil [Relation] cause [Effect] Enbridge's profitability is not directly tied to commodity prices",
    "gold": "[Cause] pipeline transportation costs are not tied to the price of natural gas and crude oil [Relation] cause [Effect] Enbridge's profitability is not directly tied to commodity prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see this as driven by improving gross margins as the SaaS business scales as well as some operating leverage in selling, general, and administrative expenses.",
    "output": "[Cause] improving gross margins as the SaaS business scales as well as some operating leverage in selling, general, and administrative expenses [Relation] cause [Effect] We see this",
    "gold": "[Cause] the SaaS business scales as well as some operating leverage in selling, general, and administrative expenses [Relation] enable [Effect]  improving gross margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The mixed-use combination is becoming increasingly popular with residents, as they get a more urban experience in the suburbs, and retailers, as they have a captured population that will be driven to their storefronts and insulated from e-commerce.",
    "output": "[Cause] they get a more urban experience in the suburbs [Relation] cause [Effect] The mixed-use combination is becoming increasingly popular with residents",
    "gold": "[Cause] they get a more urban experience in the suburbs [Relation] cause [Effect] The mixed-use combination is becoming increasingly popular with residents",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The mixed-use combination is becoming increasingly popular with residents, as they get a more urban experience in the suburbs, and retailers, as they have a captured population that will be driven to their storefronts and insulated from e-commerce.",
    "output": "[Cause] they have a captured population that will be driven to their storefronts and insulated from e-commerce [Relation] cause [Effect] The mixed-use combination is becoming increasingly popular with residents",
    "gold": "[Cause] The mixed-use combination is becoming increasingly popular with residents [Relation] cause [Effect] retailers, as they have a captured population that will be driven to their storefronts and insulated from e-commerce",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, unlike aggregates and cement, ready-mixed concrete is highly perishable, as hardening will limit the range it can travel to roughly 60-90 miles.",
    "output": "[Cause] hardening will limit the range it can travel to roughly 60-90 miles [Relation] cause [Effect] ready-mixed concrete is highly perishable",
    "gold": "[Cause] hardening [Relation] cause [Effect] limit the range it can travel to roughly 60-90 miles",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As rapid credit decisions become the norm, access to large data sets and the ability to analyze them are increasingly a requirement to compete in consumer lending.",
    "output": "[Cause] rapid credit decisions become the norm [Relation] cause [Effect] access to large data sets and the ability to analyze them are increasingly a requirement to compete in consumer lending",
    "gold": "[Cause] rapid credit decisions become the norm [Relation] enable [Effect] access to large data sets and the ability to analyze them are increasingly a requirement to compete in consumer lending",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Every JPY 1 change in the dollar affects Toyota's operating income by about JPY 35 billion, more than twice the impact at Honda.",
    "output": "[Cause] Every JPY 1 change in the dollar [Relation] cause [Effect] Toyota's operating income by about JPY 35 billion",
    "gold": "[Cause] Every JPY 1 change in the dollar [Relation] cause [Effect] Toyota's operating income by about JPY 35 billion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Corning invented this industry, and after five decades of innovation we think Corning possesses intangible assets in ceramic substrate and filter production that have resulted in its leading share.",
    "output": "[Cause] Corning possesses intangible assets in ceramic substrate and filter production [Relation] cause [Effect] its leading share",
    "gold": "[Cause] Corning possesses intangible assets in ceramic substrate and filter production [Relation] cause [Effect] its leading share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At the end of the day, these price increases would either be reflected at retail, which could damage brand equity amongst price sensitive consumers, or they would be absorbed by Coca-Cola Femsa, which would detract from its financial viability and ability to execute in the marketplace on TCCC's behalf.",
    "output": "[Cause] these price increases would either be reflected at retail [Relation] cause [Effect] damage brand equity amongst price sensitive consumers",
    "gold": "[Cause] these price increases would either be reflected at retail [Relation] cause [Effect] damage brand equity amongst price sensitive consumers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At the end of the day, these price increases would either be reflected at retail, which could damage brand equity amongst price sensitive consumers, or they would be absorbed by Coca-Cola Femsa, which would detract from its financial viability and ability to execute in the marketplace on TCCC's behalf.",
    "output": "[Cause] they would be absorbed by Coca-Cola Femsa [Relation] cause [Effect] detract from its financial viability and ability to execute in the marketplace on TCCC's behalf",
    "gold": "[Cause] they would be absorbed by Coca-Cola Femsa [Relation] cause [Effect] detract from its financial viability and ability to execute in the marketplace on TCCC's behalf",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Vale somewhat mitigates the disadvantage with a fleet of very large ore carriers (Valemax ships) which can reduce freight costs through economies of scale.",
    "output": "[Cause] a fleet of very large ore carriers (Valemax ships) [Relation] enable [Effect] reduce freight costs through economies of scale",
    "gold": "[Cause]  a fleet of very large ore carriers (Valemax ships) which can reduce freight costs through economies of scale [Relation] enable [Effect] Vale somewhat mitigates the disadvantage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Consumer lending is increasingly data driven as large proprietary data sets are needed to build the kinds of credit models necessary to make fast and effective underwriting decisions.",
    "output": "[Cause] large proprietary data sets are needed to build the kinds of credit models necessary to make fast and effective underwriting decisions [Relation] cause [Effect] Consumer lending is increasingly data driven",
    "gold": "[Cause] large proprietary data sets are needed to build the kinds of credit models necessary to make fast and effective underwriting decisions [Relation] cause [Effect] Consumer lending is increasingly data driven",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management has been focused on leveraging scale to foster strategic partnerships to increase traffic and cross-selling opportunities with a long-term focus to improve coordinated care.",
    "output": "[Cause] Management has been focused on leveraging scale to foster strategic partnerships [Relation] enable [Effect] increase traffic and cross-selling opportunities with a long-term focus to improve coordinated care",
    "gold": "[Cause] Management has been focused on leveraging scale to foster strategic partnerships [Relation] cause [Effect] increase traffic and cross-selling opportunities with a long-term focus to improve coordinated care",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that as businesses realize the importance of flexibility in communication and collaboration, the number of UCaaS seats should grow.",
    "output": "[Cause] businesses realize the importance of flexibility in communication and collaboration [Relation] cause [Effect] the number of UCaaS seats should grow",
    "gold": "[Cause] businesses realize the importance of flexibility in communication and collaboration [Relation] cause [Effect]  the number of UCaaS seats should grow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nasdaq is successfully shifting its business mix into more data and technology, and the market has recently been rewarding the company for it.",
    "output": "[Cause] Nasdaq is successfully shifting its business mix into more data and technology [Relation] cause [Effect] the market has recently been rewarding the company for it",
    "gold": "[Cause] Nasdaq is successfully shifting its business mix into more data and technology [Relation] cause [Effect]  the market has recently been rewarding the company for it",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the healthcare division, Bayer's strong lineup of recently launched drugs and solid exposure to biologics should support steady long-term growth.",
    "output": "[Cause] Bayer's strong lineup of recently launched drugs and solid exposure to biologics [Relation] enable [Effect] steady long-term growth",
    "gold": "[Cause] Bayer's strong lineup of recently launched drugs and solid exposure to biologics [Relation] enable [Effect] steady long-term growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Potential data breaches, given Telus' access and transport of sensitive data, and business disruptions of what is now essentially a utility would also be risks.",
    "output": "[Cause] Telus' access and transport of sensitive data [Relation] cause [Effect] Potential data breaches",
    "gold": "[Cause] Telus' access and transport of sensitive data [Relation] cause [Effect] Potential data breaches",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Potential data breaches, given Telus' access and transport of sensitive data, and business disruptions of what is now essentially a utility would also be risks.",
    "output": "[Cause] Telus' access and transport of sensitive data [Relation] cause [Effect] Potential data breaches",
    "gold": "[Cause]  business disruptions of what is now essentially a utility [Relation] enable [Effect] risks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Burlington's pack-and-hold capabilities similarly reduce volatility (while allowing it to minimize merchandise costs), as it can opportunistically store inventory that is unlikely to go out of style for sale in a future season.",
    "output": "[Cause] it can opportunistically store inventory that is unlikely to go out of style for sale in a future season [Relation] cause [Effect] Burlington's pack-and-hold capabilities similarly reduce volatility",
    "gold": "[Cause] Burlington's pack-and-hold capabilities [Relation] prevent [Effect] volatility",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Burlington's pack-and-hold capabilities similarly reduce volatility (while allowing it to minimize merchandise costs), as it can opportunistically store inventory that is unlikely to go out of style for sale in a future season.",
    "output": "[Cause] it can opportunistically store inventory that is unlikely to go out of style for sale in a future season [Relation] cause [Effect] Burlington's pack-and-hold capabilities similarly reduce volatility",
    "gold": "[Cause]  it can opportunistically store inventory that is unlikely to go out of style for sale in a future season [Relation] cause [Effect] Burlington's pack-and-hold capabilities similarly reduce volatility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Zoetis is likely to grow slightly faster than the industry and maintain above-average margins due to its scale and its shift toward the faster-growing companion animal segment.",
    "output": "[Cause] its scale and its shift toward the faster-growing companion animal segment [Relation] cause [Effect] Zoetis is likely to grow slightly faster than the industry and maintain above-average margins",
    "gold": "[Cause] its scale and its shift toward the faster-growing companion animal segment [Relation] cause [Effect] Zoetis is likely to grow slightly faster than the industry and maintain above-average margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Scotts is indemnified from any legal liabilities, the headlines could turn consumers away from using the consumer version of Roundup.",
    "output": "[Cause] the headlines [Relation] cause [Effect] turn consumers away from using the consumer version of Roundup",
    "gold": "[Cause]  the headlines [Relation] enable [Effect] turn consumers away from using the consumer version of Roundup",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For instance, Weixin Moments' ad revenue continued to grow as advertisers can link their ads with their mini programs to complete transactions.",
    "output": "[Cause] advertisers can link their ads with their mini programs to complete transactions [Relation] cause [Effect] Weixin Moments' ad revenue continued to grow",
    "gold": "[Cause] advertisers can link their ads with their mini programs to complete transactions [Relation] enable [Effect] Weixin Moments' ad revenue continued to grow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the renewable energy business is growing faster than the utility, we expect ConEd to divest its natural gas transmission assets in the near future. Thus, we expect non-utiliy earnings to be less than 10% of earnings and will likely remain near this level of contribution for the foreseeable future.",
    "output": "[Cause] Although the renewable energy business is growing faster than the utility, we expect ConEd to divest its natural gas transmission assets in the near future [Relation] cause [Effect] non-utiliy earnings to be less than 10% of earnings and will likely remain near this level of contribution for the foreseeable future",
    "gold": "[Cause] Although the renewable energy business is growing faster than the utility, we expect ConEd to divest its natural gas transmission assets in the near future [Relation] cause [Effect]  non-utiliy earnings to be less than 10% of earnings and will likely remain near this level of contribution for the foreseeable future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a first mover, Align garnered a monopoly in the market and effectively created a new product category, piquing the interest of all dental manufacturers and distributors.",
    "output": "[Cause] Align garnered a monopoly in the market and effectively created a new product category [Relation] cause [Effect] piquing the interest of all dental manufacturers and distributors",
    "gold": "[Cause] Align garnered a monopoly in the market and effectively created a new product category [Relation] cause [Effect] piquing the interest of all dental manufacturers and distributors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To offset declining volumes, Suburban will need to continue to acquire smaller firms and drive efficiencies across the combined operations.",
    "output": "[Cause] Suburban will need to continue to acquire smaller firms and drive efficiencies across the combined operations [Relation] enable [Effect] offset declining volumes",
    "gold": "[Cause] Suburban will need to continue to acquire smaller firms and drive efficiencies across the combined operations [Relation] enable [Effect] offset declining volumes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This means that Wipro is better able to attract value from its intangible assets as there is less turnover of such assets, as this is retained significantly in talent.",
    "output": "[Cause] there is less turnover of such assets [Relation] cause [Effect] Wipro is better able to attract value from its intangible assets",
    "gold": "[Cause] there is less turnover of such assets [Relation] cause [Effect] Wipro is better able to attract value from its intangible assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This means that Wipro is better able to attract value from its intangible assets as there is less turnover of such assets, as this is retained significantly in talent.",
    "output": "[Cause] this is retained significantly in talent [Relation] cause [Effect] Wipro is better able to attract value from its intangible assets",
    "gold": "[Cause] this is retained significantly in talent [Relation] cause [Effect] Wipro is better able to attract value from its intangible assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Intangible AssetsTesla's brand cachet is not likely to be impaired any time soon as other automakers move into the battery electric vehicle, or BEV, space because we expect Tesla to keep innovating to stay ahead of startup and established competitors.",
    "output": "[Cause] other automakers move into the battery electric vehicle, or BEV, space [Relation] cause [Effect] Intangible AssetsTesla's brand cachet is not likely to be impaired any time soon",
    "gold": "[Cause] other automakers move into the battery electric vehicle, or BEV, space [Relation] cause [Effect] Intangible AssetsTesla's brand cachet is not likely to be impaired any time soon",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also believe that McDonald's benefits from a sustainable cost advantage, with its dominant global scale allowing it to procure food and paper at favorable prices, to leverage marketing and technology investments across its global footprint, and to secure lower rates from third-party delivery aggregators.",
    "output": "[Cause] its dominant global scale allowing it to procure food and paper at favorable prices, to leverage marketing and technology investments across its global footprint, and to secure lower rates from third-party delivery aggregators [Relation] enable [Effect] McDonald's benefits from a sustainable cost advantage",
    "gold": "[Cause]  its dominant global scale allowing it to procure food and paper at favorable prices, to leverage marketing and technology investments across its global footprint, and to secure lower rates from third-party delivery aggregators [Relation] enable [Effect] McDonald's benefits from a sustainable cost advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast selling, general, and administrative expenses as a percentage of sales will remain around the 24.5% average level of the past decade as the company invests in marketing, e-commerce, and international expansion.",
    "output": "[Cause] the company invests in marketing, e-commerce, and international expansion [Relation] cause [Effect] selling, general, and administrative expenses as a percentage of sales will remain around the 24.5% average level of the past decade",
    "gold": "[Cause] the company invests in marketing, e-commerce, and international expansion [Relation] cause [Effect] selling, general, and administrative expenses as a percentage of sales will remain around the 24.5% average level of the past decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, economic rent associated with the purchase of aggregated postindustrial scrap and demolished buildings is usually bid away as competitors vie to lock in these large single-purchase volumes.",
    "output": "[Cause] competitors vie to lock in these large single-purchase volumes [Relation] cause [Effect] economic rent associated with the purchase of aggregated postindustrial scrap and demolished buildings is usually bid away",
    "gold": "[Cause] competitors vie to lock in these large single-purchase volumes [Relation] cause [Effect]  economic rent associated with the purchase of aggregated postindustrial scrap and demolished buildings is usually bid away",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect noninterest income to grow at a mid-single-digit compound annual growth rate of 3%-4%. This leads to a terminal return on tangible equity of 14% for our forecast period compared with our cost of equity at 9%.",
    "output": "[Cause] noninterest income to grow at a mid-single-digit compound annual growth rate of 3%-4% [Relation] cause [Effect] a terminal return on tangible equity of 14% for our forecast period compared with our cost of equity at 9%",
    "gold": "[Cause] noninterest income to grow at a mid-single-digit compound annual growth rate of 3%-4% [Relation] cause [Effect] a terminal return on tangible equity of 14% for our forecast period compared with our cost of equity at 9%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As evidence of Tapestry's competitive edge, its adjusted ROIC including goodwill was above our estimated WACC for the company of 9% in nine of the past 10 years, with virus-affected fiscal 2020 the only exception.",
    "output": "[Cause] Tapestry's competitive edge [Relation] cause [Effect] its adjusted ROIC including goodwill was above our estimated WACC for the company of 9% in nine of the past 10 years, with virus-affected fiscal 2020 the only exception",
    "gold": "[Cause]  its adjusted ROIC including goodwill was above our estimated WACC for the company of 9% in nine of the past 10 years [Relation] enable [Effect]  evidence of Tapestry's competitive edge",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe that Check Point can increase its gross margins toward 90% in the 2020s as we project high-margin subscription-based revenue to grow at a faster clip than other offerings.",
    "output": "[Cause] high-margin subscription-based revenue to grow at a faster clip than other offerings [Relation] cause [Effect] Check Point can increase its gross margins toward 90% in the 2020s",
    "gold": "[Cause] high-margin subscription-based revenue to grow at a faster clip than other offerings [Relation] enable [Effect] Check Point can increase its gross margins toward 90% in the 2020s",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As new drugs gain traction, Astra will likely continue to reduce the asset sales, which is strategically sound but will likely create a headwind to earnings growth.",
    "output": "[Cause] new drugs gain traction [Relation] cause [Effect] Astra will likely continue to reduce the asset sales",
    "gold": "[Cause]  new drugs gain traction [Relation] cause [Effect]  Astra will likely continue to reduce the asset sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For now, we anticipate a midteens top-line organic lift in 2021, with the first half of 2021 benefiting from socially distant demand, before returning to more normalized single-digit industry growth as a vaccine is distributed, potentially reallocating consumer discretionary dollars to other categories.",
    "output": "[Cause] a vaccine is distributed [Relation] cause [Effect] returning to more normalized single-digit industry growth",
    "gold": "[Cause] a vaccine is distributed [Relation] cause [Effect] returning to more normalized single-digit industry growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For now, we anticipate a midteens top-line organic lift in 2021, with the first half of 2021 benefiting from socially distant demand, before returning to more normalized single-digit industry growth as a vaccine is distributed, potentially reallocating consumer discretionary dollars to other categories.",
    "output": "[Cause] returning to more normalized single-digit industry growth [Relation] cause [Effect] potentially reallocating consumer discretionary dollars to other categories",
    "gold": "[Cause] returning to more normalized single-digit industry growth [Relation] cause [Effect] potentially reallocating consumer discretionary dollars to other categories",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For now, we anticipate a midteens top-line organic lift in 2021, with the first half of 2021 benefiting from socially distant demand, before returning to more normalized single-digit industry growth as a vaccine is distributed, potentially reallocating consumer discretionary dollars to other categories.",
    "output": "[Cause] returning to more normalized single-digit industry growth [Relation] cause [Effect] potentially reallocating consumer discretionary dollars to other categories",
    "gold": "[Cause] the first half of 2021 benefiting from socially distant demand [Relation] enable [Effect] a midteens top-line organic lift in 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In markets and product categories that Tractor Supply overlaps with other big-box retailers (Home Depot, Lowe's, PetSmart, Walmart), we think the company could be forced to be a price taker, which could weigh on local profits.",
    "output": "[Cause] the company could be forced to be a price taker [Relation] cause [Effect] weigh on local profits",
    "gold": "[Cause] In markets and product categories that Tractor Supply overlaps with other big-box retailers (Home Depot, Lowe's, PetSmart, Walmart) [Relation] cause [Effect]  the company could be forced to be a price taker",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As CVS' local market share rises, its negotiating leverage with providers also rises, which can create a virtuous cycle where CVS attracts even more clients and more providers to its insurance network in that area.",
    "output": "[Cause] CVS' local market share rises [Relation] cause [Effect] its negotiating leverage with providers also rises",
    "gold": "[Cause] CVS' local market share rises [Relation] enable [Effect] its negotiating leverage with providers also rises",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As CVS' local market share rises, its negotiating leverage with providers also rises, which can create a virtuous cycle where CVS attracts even more clients and more providers to its insurance network in that area.",
    "output": "[Cause] its negotiating leverage with providers also rises [Relation] cause [Effect] create a virtuous cycle where CVS attracts even more clients and more providers to its insurance network in that area",
    "gold": "[Cause] its negotiating leverage with providers also rises [Relation] cause [Effect] create a virtuous cycle where CVS attracts even more clients and more providers to its insurance network in that area",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The money transfer business is highly scalable because the incremental costs of processing additional transactions are minimal. This gives Western Union a marked cost advantage over its rivals, and its operating margins are more than twice of any of its competitors.",
    "output": "[Cause] The money transfer business is highly scalable because the incremental costs of processing additional transactions are minimal [Relation] cause [Effect] gives Western Union a marked cost advantage over its rivals, and its operating margins are more than twice of any of its competitors",
    "gold": "[Cause] The money transfer business is highly scalable because the incremental costs of processing additional transactions are minimal [Relation] cause [Effect]  gives Western Union a marked cost advantage over its rivals, and its operating margins are more than twice of any of its competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "JD.com has emerged as a leading disruptive force in China's retail industry by offering authentic products online at competitive prices with speedy and high-quality delivery service.",
    "output": "[Cause] offering authentic products online at competitive prices with speedy and high-quality delivery service [Relation] enable [Effect] JD.com has emerged as a leading disruptive force in China's retail industry",
    "gold": "[Cause] offering authentic products online at competitive prices with speedy and high-quality delivery service [Relation] enable [Effect] JD.com has emerged as a leading disruptive force in China's retail industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have slightly lowered our fair value estimate to $62 per share from $63, to account for lower near-term unit growth, as a resurgence in COVID-19 cases could delay construction and new signings.",
    "output": "[Cause] a resurgence in COVID-19 cases could delay construction and new signings [Relation] cause [Effect] slightly lowered our fair value estimate to $62 per share from $63, to account for lower near-term unit growth",
    "gold": "[Cause] slightly lowered our fair value estimate to $62 per share from $63 [Relation] cause [Effect] lower near-term unit growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We still forecast selling, general, and administrative expense averaging 28% of total revenue (excluding reimbursement revenue) over the next 10 years (versus 32.6% in 2019), as the company leverages its growing room base. As a result of our revenue and SG&A forecast, we project operating margins reaching 31.5% in 2030 from 28.6% in 2019 and 2029 EBI growth of 7%.",
    "output": "[Cause] selling, general, and administrative expense averaging 28% of total revenue (excluding reimbursement revenue) over the next 10 years (versus 32.6% in 2019), as the company leverages its growing room base [Relation] cause [Effect] operating margins reaching 31.5% in 2030 from 28.6% in 2019 and 2029 EBI growth of 7%",
    "gold": "[Cause] selling, general, and administrative expense averaging 28% of total revenue (excluding reimbursement revenue) over the next 10 years (versus 32.6% in 2019), as the company leverages its growing room base [Relation] cause [Effect]  operating margins reaching 31.5% in 2030 from 28.6% in 2019 and 2029 EBI growth of 7%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Some of these investment areas have raised investor questions in the past, and we expect management to continue to invest according to its strategy, despite periodic margin pressure from increased spending.",
    "output": "[Cause] periodic margin pressure from increased spending [Relation] cause [Effect] management to continue to invest according to its strategy",
    "gold": "[Cause]  increased spending [Relation] cause [Effect] periodic margin pressure",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, Millicom's exit from several African countries demonstrates it is not wed to any particular area and will sell operations if it can't achieve the financial returns it expects.",
    "output": "[Cause] it can't achieve the financial returns it expects [Relation] cause [Effect] sell operations",
    "gold": "[Cause] it is not wed to any particular area [Relation] cause [Effect] Millicom's exit from several African countries",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Investments will focus on producing higher-value lubricants and diesel in the downstream segment and performance products in the chemical segment, which should lift returns and earnings further.",
    "output": "[Cause] Investments will focus on producing higher-value lubricants and diesel in the downstream segment and performance products in the chemical segment [Relation] enable [Effect] lift returns and earnings further",
    "gold": "[Cause] Investments will focus on producing higher-value lubricants and diesel in the downstream segment and performance products in the chemical segment [Relation] enable [Effect] lift returns and earnings further",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ADS is heavily exposed to the economic cycle as it is impacted by changes in credit quality, interest rates, and retail sales.",
    "output": "[Cause] it is impacted by changes in credit quality, interest rates, and retail sales [Relation] cause [Effect] ADS is heavily exposed to the economic cycle",
    "gold": "[Cause]  it is impacted by changes in credit quality, interest rates, and retail sales [Relation] cause [Effect] ADS is heavily exposed to the economic cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Many racing horse owners take up horse racing as a hobby and recognize few horses ever turn a profit. For this reason, we think racing horse owners are generally price-insensitive, and Neogen's status as a trusted brand provider can allow for higher margin in the business than would otherwise be expected in a competitive, price-sensitive market.",
    "output": "[Cause] Many racing horse owners take up horse racing as a hobby and recognize few horses ever turn a profit [Relation] cause [Effect] racing horse owners are generally price-insensitive, and Neogen's status as a trusted brand provider can allow for higher margin in the business than would otherwise be expected in a competitive, price-sensitive market",
    "gold": "[Cause] Many racing horse owners take up horse racing as a hobby and recognize few horses ever turn a profit [Relation] cause [Effect]  racing horse owners are generally price-insensitive, and Neogen's status as a trusted brand provider can allow for higher margin in the business than would otherwise be expected in a competitive, price-sensitive market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fourth, given Groupon's high take rate on sales of vouchers and most SMBs' small marketing budgets and lack of product depth, we believe merchants are unlikely to provide large discounts aggressively and consistently through Groupon or its peers.",
    "output": "[Cause] Groupon's high take rate on sales of vouchers and most SMBs' small marketing budgets and lack of product depth [Relation] cause [Effect] merchants are unlikely to provide large discounts aggressively and consistently through Groupon or its peers",
    "gold": "[Cause] Groupon's high take rate on sales of vouchers and most SMBs' small marketing budgets and lack of product depth [Relation] cause [Effect] merchants are unlikely to provide large discounts aggressively and consistently through Groupon or its peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While new entrants have made attempts to capture aftermarket sales in more generic and commoditized industrials markets, we believe that Idex is relatively less vulnerable to the threat of new entrants given that it tends to operate in more niche markets.",
    "output": "[Cause] it tends to operate in more niche markets [Relation] cause [Effect] Idex is relatively less vulnerable to the threat of new entrants",
    "gold": "[Cause] it tends to operate in more niche markets [Relation] cause [Effect] Idex is relatively less vulnerable to the threat of new entrants",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Beneath these two companies' 70%-plus share, the market is highly fragmented, making it extremely challenging for any smaller new entrants to gain customer traffic or supplier scale.",
    "output": "[Cause] Beneath these two companies' 70%-plus share, the market is highly fragmented [Relation] cause [Effect] it extremely challenging for any smaller new entrants to gain customer traffic or supplier scale",
    "gold": "[Cause] Beneath these two companies' 70%-plus share, the market is highly fragmented [Relation] cause [Effect]  it extremely challenging for any smaller new entrants to gain customer traffic or supplier scale",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Inflation has risen significantly over the past few months, and the central bank has responded by raising interest rates to 4.25% from 2%.",
    "output": "[Cause] Inflation has risen significantly over the past few months [Relation] cause [Effect] the central bank has responded by raising interest rates to 4.25% from 2%",
    "gold": "[Cause] Inflation has risen significantly over the past few months [Relation] cause [Effect] the central bank has responded by raising interest rates to 4.25% from 2%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These pools of patient data, paired with CROs' recruitment and consulting capabilities, offer a key service to biopharma clients that they cannot replicate in-house.",
    "output": "[Cause] These pools of patient data, paired with CROs' recruitment and consulting capabilities [Relation] enable [Effect] offer a key service to biopharma clients that they cannot replicate in-house",
    "gold": "[Cause] These pools of patient data, paired with CROs' recruitment and consulting capabilities [Relation] enable [Effect] offer a key service to biopharma clients that they cannot replicate in-house",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Whereas historically, real estate providers established local expertise and operated regionally, increased access to information via the Internet and data from providers such as CoStar now benefits firms with a global reach.",
    "output": "[Cause] increased access to information via the Internet and data from providers such as CoStar now benefits firms with a global reach [Relation] enable [Effect] Whereas historically, real estate providers established local expertise and operated regionally",
    "gold": "[Cause] Whereas historically, real estate providers established local expertise and operated regionally, increased access to information via the Internet and data from providers [Relation] enable [Effect] CoStar now benefits firms with a global reach",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The app store exhibits network effects as new users would attract new developers to the platform who have greater visibility for their apps, while users would benefit from new developers as they have access to a wider array of apps to augment their contact center software.",
    "output": "[Cause] they have access to a wider array of apps to augment their contact center software [Relation] cause [Effect] users would benefit from new developers",
    "gold": "[Cause] new users would attract new developers to the platform who have greater visibility for their apps [Relation] cause [Effect] The app store exhibits network effects",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The app store exhibits network effects as new users would attract new developers to the platform who have greater visibility for their apps, while users would benefit from new developers as they have access to a wider array of apps to augment their contact center software.",
    "output": "[Cause] they have access to a wider array of apps to augment their contact center software [Relation] cause [Effect] users would benefit from new developers",
    "gold": "[Cause] they have access to a wider array of apps to augment their contact center software [Relation] cause [Effect] users would benefit from new developers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Zions has historically had one of the worst efficiency ratios in our bank coverage. This has partially been due to a bloated expense base, but declining interest income in a low-interest-rate environment hasn't helped.",
    "output": "[Cause] a bloated expense base, but declining interest income in a low-interest-rate environment hasn't helped [Relation] cause [Effect] Zions has historically had one of the worst efficiency ratios in our bank coverage",
    "gold": "[Cause] a bloated expense base, but declining interest income in a low-interest-rate environment hasn't helped [Relation] cause [Effect] Zions has historically had one of the worst efficiency ratios in our bank coverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After weathering headwinds in its systems and solutions businesses in 2020-21 due to the COVID-19 pandemic, we forecast ICU to reach mid-single-digit revenue growth annually by the end of our five-year forecast period.",
    "output": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] weathering headwinds in its systems and solutions businesses in 2020-21",
    "gold": "[Cause] After weathering headwinds in its systems and solutions businesses in 2020-21 due to the COVID-19 pandemic [Relation] cause [Effect]  ICU to reach mid-single-digit revenue growth annually by the end of our five-year forecast period",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Similarly, in Hub's flagship intermodal segment, a vast customer base generates significant buying power (greater rail capacity discounts), and its container fleet (the second largest in the industry) provides preferred access to rail capacity.",
    "output": "[Cause] a vast customer base [Relation] enable [Effect] significant buying power (greater rail capacity discounts)",
    "gold": "[Cause] a vast customer base [Relation] cause [Effect] significant buying power (greater rail capacity discounts)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Selling, general, and administrative expenses as a percent of sales temporarily fell in 2020 as marketing expenses were cut as a result of the pandemic, to 14.4% from 15.5% the prior year.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] marketing expenses were cut",
    "gold": "[Cause]  marketing expenses were cut as a result of the pandemic, to 14.4% from 15.5% the prior year [Relation] enable [Effect] Selling, general, and administrative expenses as a percent of sales temporarily fell in 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Selling, general, and administrative expenses as a percent of sales temporarily fell in 2020 as marketing expenses were cut as a result of the pandemic, to 14.4% from 15.5% the prior year.",
    "output": "[Cause] marketing expenses were cut [Relation] cause [Effect] Selling, general, and administrative expenses as a percent of sales temporarily fell in 2020",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] marketing expenses were cut",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Bausch's history of making acquisitions to drive business growth contributes to our doubt in the company' ability to develop an organic pipeline.",
    "output": "[Cause] Bausch's history of making acquisitions to drive business growth [Relation] cause [Effect] our doubt in the company' ability to develop an organic pipeline",
    "gold": "[Cause] Bausch's history of making acquisitions to drive business growth [Relation] cause [Effect] our doubt in the company' ability to develop an organic pipeline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Globalization of businesses in various verticals has increased demand not only for vertical-specific advertising expertise, but also for experience and clearer understanding of different cultures and regulations within the geographic regions in which businesses want to market and sell their products.",
    "output": "[Cause] Globalization of businesses in various verticals [Relation] cause [Effect] increased demand not only for vertical-specific advertising expertise, but also for experience and clearer understanding of different cultures and regulations within the geographic regions in which businesses want to market and sell their products",
    "gold": "[Cause] Globalization of businesses in various verticals [Relation] cause [Effect] increased demand not only for vertical-specific advertising expertise, but also for experience and clearer understanding of different cultures and regulations within the geographic regions in which businesses want to market and sell their products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, the majority of Archer Daniels Midland's products are commodities where the company does not benefit from any particular moat source. As such, we do not have a high degree of confidence that the company will be able to outearn its cost of capital over the next decade.",
    "output": "[Cause] the majority of Archer Daniels Midland's products are commodities where the company does not benefit from any particular moat source [Relation] cause [Effect] we do not have a high degree of confidence that the company will be able to outearn its cost of capital over the next decade",
    "gold": "[Cause] the majority of Archer Daniels Midland's products are commodities where the company does not benefit from any particular moat source [Relation] cause [Effect] we do not have a high degree of confidence that the company will be able to outearn its cost of capital over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Health insurers will continue to play key roles in the healthcare system if a public option is introduced, and they could even benefit from the expansion of services provided, if the public option merely expands access to insurance rather than causes significant shifts in insurance sources.",
    "output": "[Cause] a public option is introduced [Relation] cause [Effect] Health insurers will continue to play key roles in the healthcare system",
    "gold": "[Cause] a public option is introduced [Relation] cause [Effect] Health insurers will continue to play key roles in the healthcare system",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Health insurers will continue to play key roles in the healthcare system if a public option is introduced, and they could even benefit from the expansion of services provided, if the public option merely expands access to insurance rather than causes significant shifts in insurance sources.",
    "output": "[Cause] the public option merely expands access to insurance rather than causes significant shifts in insurance sources [Relation] cause [Effect] they could even benefit from the expansion of services provided",
    "gold": "[Cause] the public option merely expands access to insurance rather than causes significant shifts in insurance sources [Relation] cause [Effect] they could even benefit from the expansion of services provided",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Gap outperformed our sales and profitability estimates in the first quarter of 2021 as, like others in the industry, it benefited from government stimulus payments, low markdown rates, and pent-up demand. Thus, we have lifted our 2021 sales growth and adjusted EPS estimates to 24% and $1.76, respectively, from 17% and $1.30.",
    "output": "[Cause] Gap outperformed our sales and profitability estimates in the first quarter of 2021 as, like others in the industry, it benefited from government stimulus payments, low markdown rates, and pent-up demand [Relation] cause [Effect] we have lifted our 2021 sales growth and adjusted EPS estimates to 24% and $1.76, respectively, from 17% and $1.30",
    "gold": "[Cause] Gap outperformed our sales and profitability estimates in the first quarter of 2021 as, like others in the industry, it benefited from government stimulus payments, low markdown rates, and pent-up demand [Relation] cause [Effect] we have lifted our 2021 sales growth and adjusted EPS estimates to 24% and $1.76, respectively, from 17% and $1.30",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we expect physical stores to remain relevant, pressure should intensify on traditional rivals to deliver omnichannel solutions that incur added fulfillment costs.",
    "output": "[Cause] pressure should intensify on traditional rivals to deliver omnichannel solutions [Relation] cause [Effect] added fulfillment costs",
    "gold": "[Cause] pressure should intensify on traditional rivals to deliver omnichannel solutions [Relation] cause [Effect] added fulfillment costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As LKQ has grown, its relationships with insurers has strengthened as it has become the largest purchaser of their salvage vehicles.",
    "output": "[Cause] it has become the largest purchaser of their salvage vehicles [Relation] cause [Effect] its relationships with insurers has strengthened",
    "gold": "[Cause]  it has become the largest purchaser of their salvage vehicles [Relation] cause [Effect] its relationships with insurers has strengthened",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate elevated commercial HVAC sales (about 40% of Johnson Controls' revenue) for the foreseeable future driven by heightened demand for more energy-efficient systems that deliver better air quality.",
    "output": "[Cause] heightened demand for more energy-efficient systems that deliver better air quality [Relation] cause [Effect] elevated commercial HVAC sales (about 40% of Johnson Controls' revenue) for the foreseeable future",
    "gold": "[Cause]  heightened demand for more energy-efficient systems that deliver better air quality [Relation] cause [Effect]  elevated commercial HVAC sales (about 40% of Johnson Controls' revenue) for the foreseeable future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A customer is unlikely to want to switch suppliers mid-product cycle, which would require a system redesign and halted production for the duration of the switch.",
    "output": "[Cause] A customer is unlikely to want to switch suppliers mid-product cycle [Relation] cause [Effect] require a system redesign and halted production for the duration of the switch",
    "gold": "[Cause] require a system redesign and halted production for the duration of the switch [Relation] cause [Effect] A customer is unlikely to want to switch suppliers mid-product cycle",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "TSMC's technological independence ensures its R&amp;D efforts are customer-agnostic and readily expanded to legacy applications as cost and reliability improve.",
    "output": "[Cause] cost and reliability improve [Relation] cause [Effect] readily expanded to legacy applications",
    "gold": "[Cause] TSMC's technological independence [Relation] enable [Effect]  its R&amp;D efforts are customer-agnostic",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "TSMC's technological independence ensures its R&amp;D efforts are customer-agnostic and readily expanded to legacy applications as cost and reliability improve.",
    "output": "[Cause] cost and reliability improve [Relation] enable [Effect] readily expanded to legacy applications",
    "gold": "[Cause] cost and reliability improve [Relation] cause [Effect] readily expanded to legacy applications",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The high-mix, low-volume nature of the business and the relatively small size of many niche end markets act as a barrier to entry, as rivals would struggle to establish the scale needed to challenge Graco's competitive position.",
    "output": "[Cause] rivals would struggle to establish the scale needed to challenge Graco's competitive position [Relation] cause [Effect] The high-mix, low-volume nature of the business and the relatively small size of many niche end markets act as a barrier to entry",
    "gold": "[Cause] The high-mix, low-volume nature of the business and the relatively small size of many niche end markets [Relation] prevent [Effect] entry",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The high-mix, low-volume nature of the business and the relatively small size of many niche end markets act as a barrier to entry, as rivals would struggle to establish the scale needed to challenge Graco's competitive position.",
    "output": "[Cause] rivals would struggle to establish the scale needed to challenge Graco's competitive position [Relation] cause [Effect] The high-mix, low-volume nature of the business and the relatively small size of many niche end markets act as a barrier to entry",
    "gold": "[Cause] rivals would struggle to establish the scale needed to challenge Graco's competitive position [Relation] cause [Effect] The high-mix, low-volume nature of the business and the relatively small size of many niche end markets act as a barrier to entry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "LabCorp has also put significant resources behind beefing up its information technology capabilities. As a result, physicians can more easily access test information in a timely manner, and patients can schedule blood draws with increased convenience.",
    "output": "[Cause] LabCorp has also put significant resources behind beefing up its information technology capabilities [Relation] cause [Effect] physicians can more easily access test information in a timely manner, and patients can schedule blood draws with increased convenience",
    "gold": "[Cause] LabCorp has also put significant resources behind beefing up its information technology capabilities [Relation] cause [Effect] physicians can more easily access test information in a timely manner, and patients can schedule blood draws with increased convenience",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, Nasdaq's exchanges have cybersecurity risks, which could result in material damage to the company's trading operations and may require the company to invest significantly in defending itself from these risks.",
    "output": "[Cause] Nasdaq's exchanges have cybersecurity risks [Relation] cause [Effect] material damage to the company's trading operations and may require the company to invest significantly in defending itself from these risks",
    "gold": "[Cause] Nasdaq's exchanges have cybersecurity risks [Relation] cause [Effect] material damage to the company's trading operations and may require the company to invest significantly in defending itself from these risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In Louisiana-Pacific's siding segment, we believe pricing will advance and volume will grow substantially as SmartSide takes additional market share in the coming years.",
    "output": "[Cause] SmartSide takes additional market share in the coming years [Relation] cause [Effect] pricing will advance and volume will grow substantially",
    "gold": "[Cause] SmartSide takes additional market share in the coming years [Relation] cause [Effect]  pricing will advance and volume will grow substantially",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Twitter's biggest move on this front was livestreaming Thursday night NFL games during the 2016-17 season, although it no longer does as Amazon was willing to pay much more for that content.",
    "output": "[Cause] Amazon was willing to pay much more for that content [Relation] cause [Effect] it no longer does",
    "gold": "[Cause] Amazon was willing to pay much more for that content [Relation] prevent [Effect] Twitter's biggest move on this front was livestreaming Thursday night NFL games during the 2016-17 season",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the risk of migrating to a new product facilitating higher cessation risk, our volume decline assumption of negative 3% is slightly above recent trends in the combustible business.",
    "output": "[Cause] the risk of migrating to a new product facilitating higher cessation risk [Relation] cause [Effect] our volume decline assumption of negative 3% is slightly above recent trends in the combustible business",
    "gold": "[Cause] the risk of migrating to a new product facilitating higher cessation risk [Relation] cause [Effect] our volume decline assumption of negative 3% is slightly above recent trends in the combustible business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the public option creates a scenario where a significant portion of the employer-based insurance population switches to government-sponsored plans, though, CVS' commercial business may suffer.",
    "output": "[Cause] the public option creates a scenario where a significant portion of the employer-based insurance population switches to government-sponsored plans [Relation] cause [Effect] CVS' commercial business may suffer",
    "gold": "[Cause]  where a significant portion of the employer-based insurance population switches to government-sponsored plans, though, [Relation] cause [Effect] CVS' commercial business may suffer.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We assume low-40s percentage revenue growth in fiscal 2021 as Five Below laps store closures and the initial stages of the pandemic.",
    "output": "[Cause] Five Below laps store closures and the initial stages of the pandemic [Relation] cause [Effect] low-40s percentage revenue growth in fiscal 2021",
    "gold": "[Cause] Five Below laps store closures and the initial stages of the pandemic [Relation] cause [Effect]  low-40s percentage revenue growth in fiscal 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In other words, Fastly can serve more types of content from its edge servers than traditional CDNs, avoiding the need to draw content from central servers in more situations.",
    "output": "[Cause] Fastly can serve more types of content from its edge servers than traditional CDNs [Relation] prevent [Effect] the need to draw content from central servers in more situations",
    "gold": "[Cause] Fastly can serve more types of content from its edge servers than traditional CDNs [Relation] prevent [Effect] the need to draw content from central servers in more situations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect this to increase as new customers rapidly join Paycom's platform, allowing the firm to manage implementation costs and customer service costs and benefit from scale-based leverage.",
    "output": "[Cause] new customers rapidly join Paycom's platform [Relation] enable [Effect] the firm to manage implementation costs and customer service costs and benefit from scale-based leverage",
    "gold": "[Cause]  new customers rapidly join Paycom's platform [Relation] enable [Effect]  the firm to manage implementation costs and customer service costs and benefit from scale-based leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the global PBM market will grow from $12 billion in 2019 to $74 billion by 2029 (a 19% CAGR), as PBMs grow from 2.5% of the ground meat market to 12%.",
    "output": "[Cause] PBMs grow from 2.5% of the ground meat market to 12% [Relation] cause [Effect] the global PBM market will grow from $12 billion in 2019 to $74 billion by 2029 (a 19% CAGR)",
    "gold": "[Cause] PBMs grow from 2.5% of the ground meat market to 12% [Relation] cause [Effect] the global PBM market will grow from $12 billion in 2019 to $74 billion by 2029 (a 19% CAGR)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The coronavirus is temporarily disrupting the firm's growth plans due to weakness from commercial customers, but we still expect a long-term trajectory of robust sales and margin expansion, fueled by industry tailwinds, shrewd investments, and acquisition synergies.",
    "output": "[Cause] weakness from commercial customers [Relation] cause [Effect] The coronavirus is temporarily disrupting the firm's growth plans",
    "gold": "[Cause] weakness from commercial customers [Relation] cause [Effect] The coronavirus is temporarily disrupting the firm's growth plans",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The coronavirus is temporarily disrupting the firm's growth plans due to weakness from commercial customers, but we still expect a long-term trajectory of robust sales and margin expansion, fueled by industry tailwinds, shrewd investments, and acquisition synergies.",
    "output": "[Cause] industry tailwinds, shrewd investments, and acquisition synergies [Relation] cause [Effect] a long-term trajectory of robust sales and margin expansion",
    "gold": "[Cause] industry tailwinds, shrewd investments, and acquisition synergies [Relation] cause [Effect] a long-term trajectory of robust sales and margin expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, the brand has generated annual unit growth of 4.9% since 2016, with comparable sales growth and productivity enhancements leading to system sales increases in the mid to high single digits.",
    "output": "[Cause] the brand has generated annual unit growth of 4.9% since 2016, with comparable sales growth and productivity enhancements [Relation] cause [Effect] system sales increases in the mid to high single digits",
    "gold": "[Cause] the brand has generated annual unit growth of 4.9% since 2016, with comparable sales growth and productivity enhancements [Relation] cause [Effect] system sales increases in the mid to high single digits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Spills also occur from time to time during long-haul transit over land, but APA has limited exposure there, as this activity is typically outsourced to midstream firms.",
    "output": "[Cause] this activity is typically outsourced to midstream firms [Relation] cause [Effect] APA has limited exposure there",
    "gold": "[Cause] this activity is typically outsourced to midstream firms [Relation] cause [Effect] APA has limited exposure there",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Operating and maintaining the hardware and software is absolutely mission critical to the enterprise, and these customers are loath to change.",
    "output": "[Cause] Operating and maintaining the hardware and software is absolutely mission critical to the enterprise [Relation] cause [Effect] these customers are loath to change",
    "gold": "[Cause] these customers are loath to change [Relation] cause [Effect] Operating and maintaining the hardware and software is absolutely mission critical to the enterprise",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, after years of underinvesting in marketing and R&D, Hain has significantly increased these brand investments in an effort to build awareness and bring truly differentiated products to market, as opposed to new flavors and minimally differentiated line extensions.",
    "output": "[Cause] Hain has significantly increased these brand investments [Relation] enable [Effect] build awareness and bring truly differentiated products to market",
    "gold": "[Cause] Hain has significantly increased these brand investments [Relation] enable [Effect] build awareness and bring truly differentiated products to market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company acquired supercomputer vendor Cray in 2019 to bolster its capabilities, and we believe HPE may benefit from enterprises adopting multicloud environments because mission-critical data may reside in high-performance servers on-premises or in private clouds instead of public clouds due to speed or security concerns.",
    "output": "[Cause] mission-critical data may reside in high-performance servers on-premises or in private clouds instead of public clouds [Relation] cause [Effect] HPE may benefit from enterprises adopting multicloud environments",
    "gold": "[Cause] mission-critical data may reside in high-performance servers on-premises or in private clouds instead of public clouds [Relation] enable [Effect]  HPE may benefit from enterprises adopting multicloud environments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company acquired supercomputer vendor Cray in 2019 to bolster its capabilities, and we believe HPE may benefit from enterprises adopting multicloud environments because mission-critical data may reside in high-performance servers on-premises or in private clouds instead of public clouds due to speed or security concerns.",
    "output": "[Cause] mission-critical data may reside in high-performance servers on-premises or in private clouds instead of public clouds [Relation] cause [Effect] HPE may benefit from enterprises adopting multicloud environments",
    "gold": "[Cause] speed or security concerns [Relation] cause [Effect] mission-critical data may reside in high-performance servers on-premises or in private clouds instead of public clouds",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The focus on a single area allowed the firm to gain in-depth knowledge of the region relative to its rivals while building out significant infrastructure that lowered the capital cost of incremental production.",
    "output": "[Cause] The focus on a single area [Relation] enable [Effect] the firm to gain in-depth knowledge of the region relative to its rivals while building out significant infrastructure that lowered the capital cost of incremental production",
    "gold": "[Cause] The focus on a single area [Relation] enable [Effect] the firm to gain in-depth knowledge of the region relative to its rivals while building out significant infrastructure that lowered the capital cost of incremental production",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While BlackRock did appear to get some pricing favorability in the firm's 2019 10-year agreement, we believe BlackRock's continued use of MSCI speaks to the strength of the firm's index franchise.",
    "output": "[Cause] BlackRock's continued use of MSCI [Relation] enable [Effect] speaks to the strength of the firm's index franchise",
    "gold": "[Cause] BlackRock's continued use of MSCI [Relation] cause [Effect] speaks to the strength of the firm's index franchise",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The division with the greatest potential to possibly propel the group is Detection, as it offers security screening equipment with a potential addressable market beyond its current focus.",
    "output": "[Cause] it offers security screening equipment with a potential addressable market beyond its current focus [Relation] cause [Effect] The division with the greatest potential to possibly propel the group is Detection",
    "gold": "[Cause]  it offers security screening equipment with a potential addressable market beyond its current focus [Relation] cause [Effect] The division with the greatest potential to possibly propel the group is Detection",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the bank's ability for higher investment into tech platforms that can scale, as well as its access to customer data on millions of households, should bolster the bank's advantages over the longer run.",
    "output": "[Cause] the bank's ability for higher investment into tech platforms that can scale, as well as its access to customer data on millions of households [Relation] enable [Effect] bolster the bank's advantages over the longer run",
    "gold": "[Cause]  the bank's ability for higher investment into tech platforms that can scale, as well as its access to customer data on millions of households [Relation] enable [Effect] bolster the bank's advantages over the longer run",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The growth of the CBS segment will be driven in part by retransmission and reverse compensation growth as the national CBS network commands a greater share of revenue from both local affiliate broadcast stations and pay-television providers.",
    "output": "[Cause] the national CBS network commands a greater share of revenue from both local affiliate broadcast stations and pay-television providers [Relation] cause [Effect] The growth of the CBS segment will be driven in part by retransmission and reverse compensation growth",
    "gold": "[Cause] the national CBS network commands a greater share of revenue from both local affiliate broadcast stations and pay-television providers [Relation] cause [Effect] The growth of the CBS segment will be driven in part by retransmission and reverse compensation growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since switching requires potentially retraining, retooling, and even relocating manufacturing, the cost of switching to marginally cheaper connector and sensors for products that meet a similar reliability standard is extremely high for these customers both in terms of time, expense, and loss of revenue.",
    "output": "[Cause] switching requires potentially retraining, retooling, and even relocating manufacturing [Relation] cause [Effect] the cost of switching to marginally cheaper connector and sensors for products that meet a similar reliability standard is extremely high for these customers both in terms of time, expense, and loss of revenue",
    "gold": "[Cause]  switching requires potentially retraining, retooling, and even relocating manufacturing [Relation] cause [Effect]  the cost of switching to marginally cheaper connector and sensors for products that meet a similar reliability standard is extremely high for these customers both in terms of time, expense, and loss of revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lithium prices could decline if electric vehicle demand grows more slowly than expected or new supply comes online too quickly.",
    "output": "[Cause] electric vehicle demand grows more slowly than expected or new supply comes online too quickly [Relation] cause [Effect] Lithium prices could decline",
    "gold": "[Cause] electric vehicle demand grows more slowly than expected or new supply comes online too quickly [Relation] cause [Effect] Lithium prices could decline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That efficiency can positively influence payer satisfaction with HCA's services as well, as they are likely saving the payer money by reducing the overall hospital day charges.",
    "output": "[Cause] they are likely saving the payer money by reducing the overall hospital day charges [Relation] cause [Effect] efficiency can positively influence payer satisfaction with HCA's services as well",
    "gold": "[Cause] they are likely saving the payer money by reducing the overall hospital day charges [Relation] enable [Effect] That efficiency can positively influence payer satisfaction with HCA's services",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company has capitalized on its scale and expanding network of customers and suppliers to consistently grow faster than its end markets.",
    "output": "[Cause] The company has capitalized on its scale and expanding network of customers and suppliers [Relation] enable [Effect] consistently grow faster than its end markets",
    "gold": "[Cause] The company has capitalized on its scale and expanding network of customers and suppliers [Relation] enable [Effect] consistently grow faster than its end markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Rising competition from Vodafone and T-Mobile/Tele2 in the fixed mobile convergence bundle or from ICT providers in the business solutions space could put KPN's margin at risk.",
    "output": "[Cause] Rising competition from Vodafone and T-Mobile/Tele2 in the fixed mobile convergence bundle or from ICT providers in the business solutions space [Relation] cause [Effect] put KPN's margin at risk",
    "gold": "[Cause] Rising competition from Vodafone and T-Mobile/Tele2 in the fixed mobile convergence bundle or from ICT providers in the business solutions space [Relation] cause [Effect] put KPN's margin at risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Business ethics risk was heightened with Volkswagen's diesel emissions cheating scandal in 2015 as well as its inclusion in an EU antitrust case regarding diesel equipment collusion among German automakers.",
    "output": "[Cause] Volkswagen's diesel emissions cheating scandal in 2015 as well as its inclusion in an EU antitrust case regarding diesel equipment collusion among German automakers [Relation] cause [Effect] Business ethics risk was heightened",
    "gold": "[Cause] Volkswagen's diesel emissions cheating scandal in 2015 as well as its inclusion in an EU antitrust case regarding diesel equipment collusion among German automakers [Relation] cause [Effect] Business ethics risk was heightened",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, we believe that if Nomura were to fall afoul of Japanese regulators in a major way, its future as an independent firm could be in question.",
    "output": "[Cause] Nomura were to fall afoul of Japanese regulators in a major way [Relation] cause [Effect] its future as an independent firm could be in question",
    "gold": "[Cause] Nomura were to fall afoul of Japanese regulators in a major way [Relation] cause [Effect] its future as an independent firm could be in question",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We reduce our fair value estimate from $22 to $20.50 per share, primarily as a result of foreign exchange movements.",
    "output": "[Cause] foreign exchange movements [Relation] cause [Effect] We reduce our fair value estimate from $22 to $20.50 per share",
    "gold": "[Cause] foreign exchange movements [Relation] cause [Effect] We reduce our fair value estimate from $22 to $20.50 per share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The development of EDA tools requires a high level of consistent R&D, as a result of which chip designers prefer to utilize EDA tools provided by companies like Cadence rather than develop them in-house.",
    "output": "[Cause] chip designers prefer to utilize EDA tools provided by companies like Cadence rather than develop them in-house [Relation] cause [Effect] The development of EDA tools requires a high level of consistent R&D",
    "gold": "[Cause] The development of EDA tools requires a high level of consistent R&D [Relation] cause [Effect]  chip designers prefer to utilize EDA tools provided by companies like Cadence rather than develop them in-house",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Demographic trends in the company's core markets should support several years of job and income growth above the national average, which should lead to higher rent growth.",
    "output": "[Cause] Demographic trends in the company's core markets should support several years of job and income growth above the national average [Relation] cause [Effect] higher rent growth",
    "gold": "[Cause] Demographic trends in the company's core markets should support several years of job and income growth above the national average [Relation] cause [Effect] higher rent growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, we think Wipro will continue to make its way into the European market, as European enterprises have become increasingly comfortable with outsourcing to offshore centers.",
    "output": "[Cause] European enterprises have become increasingly comfortable with outsourcing to offshore centers [Relation] cause [Effect] Wipro will continue to make its way into the European market",
    "gold": "[Cause]  European enterprises have become increasingly comfortable with outsourcing to offshore centers [Relation] cause [Effect] Wipro will continue to make its way into the European market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Though corollaries of the pandemic will likely continue to linger, we believe increasing vaccination levels globally should facilitate a more favorable commercial backdrop throughout the year.",
    "output": "[Cause] increasing vaccination levels globally [Relation] enable [Effect] facilitate a more favorable commercial backdrop throughout the year",
    "gold": "[Cause] increasing vaccination levels globally [Relation] enable [Effect] facilitate a more favorable commercial backdrop throughout the year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect operating margin expanding to nearly 23% by 2025, at the end of our five-year explicit forecast, driven by automation efforts and mix shift toward higher-value services.",
    "output": "[Cause] automation efforts and mix shift toward higher-value services [Relation] cause [Effect] operating margin expanding to nearly 23% by 2025",
    "gold": "[Cause]  automation efforts and mix shift toward higher-value services [Relation] enable [Effect] operating margin expanding to nearly 23% by 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The latest developments around COVID-19 do not help here and will likely push back the timing for expense savings targets and increase the execution risk.",
    "output": "[Cause] latest developments around COVID-19 [Relation] prevent [Effect] help here",
    "gold": "[Cause]  latest developments around COVID-19 [Relation] cause [Effect]  push back the timing",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The transition to the platform hit some speed bumps early on, and LPL indefinitely delayed the planned 2018 shutdown of the old BranchNet platform for advisors because of trade issues with ClientWorks.",
    "output": "[Cause] trade issues with ClientWorks [Relation] cause [Effect] LPL indefinitely delayed the planned 2018 shutdown of the old BranchNet platform for advisors",
    "gold": "[Cause] trade issues with ClientWorks [Relation] cause [Effect] LPL indefinitely delayed the planned 2018 shutdown of the old BranchNet platform for advisors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2010, Ageas set up a provision of EUR 2,362.0 million in relation to legal disputes with the Netherlands government. This disagreement arose from a difference of opinion with regard to the terms and conditions under which Fortis sold its Dutch operations to the Dutch government.",
    "output": "[Cause] a difference of opinion with regard to the terms and conditions under which Fortis sold its Dutch operations to the Dutch government [Relation] cause [Effect] Ageas set up a provision of EUR 2,362.0 million in relation to legal disputes with the Netherlands government",
    "gold": "[Cause] In 2010, Ageas set up a provision of EUR 2,362.0 million in relation to legal disputes with the Netherlands government [Relation] cause [Effect] arose from a difference of opinion with regard to the terms and conditions under which Fortis sold its Dutch operations to the Dutch government",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We use an above-average cost of equity to discount our cash flow projections due to the highly cyclical nature of the business.",
    "output": "[Cause] the highly cyclical nature of the business [Relation] cause [Effect] We use an above-average cost of equity to discount our cash flow projections",
    "gold": "[Cause] the highly cyclical nature of the business [Relation] cause [Effect] We use an above-average cost of equity to discount our cash flow projections",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think ITW's emphasis on customer-backed innovation should allow it to gain some modest market share from competitors, particularly on the strength of its differentiated offerings.",
    "output": "[Cause] ITW's emphasis on customer-backed innovation [Relation] enable [Effect] it to gain some modest market share from competitors",
    "gold": "[Cause] ITW's emphasis on customer-backed innovation [Relation] enable [Effect]  it to gain some modest market share from competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "UP's initial success on the margin front came a few decades after partial deregulation in 1980, as the rail eliminated unprofitable routes and gained efficiency during industry consolidation.",
    "output": "[Cause] partial deregulation in 1980 [Relation] cause [Effect] UP's initial success on the margin front came a few decades",
    "gold": "[Cause] partial deregulation in 1980 [Relation] cause [Effect] UP's initial success on the margin front came a few decades",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "UP's initial success on the margin front came a few decades after partial deregulation in 1980, as the rail eliminated unprofitable routes and gained efficiency during industry consolidation.",
    "output": "[Cause] the rail eliminated unprofitable routes and gained efficiency during industry consolidation [Relation] cause [Effect] UP's initial success on the margin front came a few decades after partial deregulation in 1980",
    "gold": "[Cause] the rail eliminated unprofitable routes and gained efficiency during industry consolidation [Relation] enable [Effect] UP's initial success on the margin front came a few decades after partial deregulation in 1980",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's multilocal market expertise, stemming from its presence in over 40 cities across more than 25 countries, gives it a competitive advantage over smaller investment banks for cross-border M&amp;A deals.",
    "output": "[Cause] The company's multilocal market expertise, stemming from its presence in over 40 cities across more than 25 countries [Relation] enable [Effect] gives it a competitive advantage over smaller investment banks for cross-border M&amp;A deals",
    "gold": "[Cause] The company's multilocal market expertise, stemming from its presence in over 40 cities across more than 25 countries [Relation] enable [Effect]  gives it a competitive advantage over smaller investment banks for cross-border M&amp;A deals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, Pembina's gathering and processing operations are tied directly into natural gas producer's wellheads, which exposes the company to production cuts.",
    "output": "[Cause] Pembina's gathering and processing operations are tied directly into natural gas producer's wellheads [Relation] cause [Effect] exposes the company to production cuts",
    "gold": "[Cause] Pembina's gathering and processing operations are tied directly into natural gas producer's wellheads [Relation] enable [Effect] exposes the company to production cuts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given EQT's operational ineptitude (higher well costs than peers and logistics challenges) and our high regard for the former Rice Energy's operational acumen (the newly installed management team at EQT), we're cautiously optimistic that EQT will be able to improve substantially.",
    "output": "[Cause] EQT's operational ineptitude (higher well costs than peers and logistics challenges) and our high regard for the former Rice Energy's operational acumen (the newly installed management team at EQT) [Relation] cause [Effect] we're cautiously optimistic that EQT will be able to improve substantially",
    "gold": "[Cause] EQT's operational ineptitude (higher well costs than peers and logistics challenges) and our high regard for the former Rice Energy's operational acumen (the newly installed management team at EQT) [Relation] cause [Effect] we're cautiously optimistic that EQT will be able to improve substantially",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Echo's value proposition strengthens in such an environment because of its deep capacity access, gross margins usually get squeezed in the short run as carrier rates spike.",
    "output": "[Cause] carrier rates spike [Relation] cause [Effect] gross margins usually get squeezed in the short run",
    "gold": "[Cause] its deep capacity access [Relation] cause [Effect] gross margins usually get squeezed in the short run as carrier rates spike",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Alternatively, the Bath &amp; Body Works segment (40% of 2019 revenue) has seen the ability to connect with its consumers remain, supporting brand relevance.",
    "output": "[Cause] the Bath &amp; Body Works segment (40% of 2019 revenue) has seen the ability to connect with its consumers remain [Relation] enable [Effect] supporting brand relevance",
    "gold": "[Cause]  the Bath &amp; Body Works segment (40% of 2019 revenue) has seen the ability to connect with its consumers remain [Relation] enable [Effect]  supporting brand relevance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe competitive pressure in Rogers' wireless business will moderate if its acquisition of Shaw is approved by regulators, but until the deal does gain regulatory approval, risk remains that it will get rejected.",
    "output": "[Cause] its acquisition of Shaw is approved by regulators [Relation] cause [Effect] competitive pressure in Rogers' wireless business will moderate",
    "gold": "[Cause]  its acquisition of Shaw is approved by regulators [Relation] enable [Effect]  competitive pressure in Rogers' wireless business will moderate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Royal took quick action to reduce operating expenses and capital expenditures as a result of the coronavirus (we forecast capital expenditures of $2 billion in 2021, down from $3 billion in prepandemic 2019).",
    "output": "[Cause] the coronavirus [Relation] cause [Effect] Royal took quick action to reduce operating expenses and capital expenditures",
    "gold": "[Cause] the coronavirus [Relation] cause [Effect] Royal took quick action to reduce operating expenses and capital expenditures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Complex devices and Medical Instruments & Suppliesprocedures require greater practitioner education and product support that have helped protect brand loyalty in the past, but the growth of lower-priced competitors has eroded intangible competitive advantages.",
    "output": "[Cause] the growth of lower-priced competitors [Relation] prevent [Effect] intangible competitive advantages",
    "gold": "[Cause] the growth of lower-priced competitors [Relation] prevent [Effect] intangible competitive advantages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By focusing on areas that typically yield very impressive initial flow rates, Diamondback's fixed costs, such as drilling and completions, are spread more thinly, delivering more bang for the buck.",
    "output": "[Cause] focusing on areas that typically yield very impressive initial flow rates [Relation] enable [Effect] Diamondback's fixed costs, such as drilling and completions, are spread more thinly",
    "gold": "[Cause]  focusing on areas that typically yield very impressive initial flow rates [Relation] cause [Effect]  Diamondback's fixed costs, such as drilling and completions, are spread more thinly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By focusing on areas that typically yield very impressive initial flow rates, Diamondback's fixed costs, such as drilling and completions, are spread more thinly, delivering more bang for the buck.",
    "output": "[Cause] Diamondback's fixed costs, such as drilling and completions, are spread more thinly [Relation] enable [Effect] more bang for the buck",
    "gold": "[Cause]  Diamondback's fixed costs, such as drilling and completions, are spread more thinly [Relation] cause [Effect]  more bang for the buck",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because faucets and showers represent a very low percentage of total home construction cost yet are very visible to customers, homebuilders opt for higher-end products. As such, the favorable mix desired by homebuilders yields higher average product price and margin compared with the retail channel.",
    "output": "[Cause] faucets and showers represent a very low percentage of total home construction cost yet are very visible to customers, homebuilders opt for higher-end products [Relation] cause [Effect] the favorable mix desired by homebuilders yields higher average product price and margin compared with the retail channel",
    "gold": "[Cause] faucets and showers represent a very low percentage of total home construction cost yet are very visible to customers, homebuilders opt for higher-end products [Relation] cause [Effect] the favorable mix desired by homebuilders yields higher average product price and margin compared with the retail channel",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company estimates that it has relationships with 60% of Fortune 500 companies, making the American Express card the go-to source for most business travelers.",
    "output": "[Cause] it has relationships with 60% of Fortune 500 companies [Relation] cause [Effect] the American Express card the go-to source for most business travelers",
    "gold": "[Cause] it has relationships with 60% of Fortune 500 companies [Relation] enable [Effect] the American Express card the go-to source for most business travelers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "First, since it reports in Mexican pesos, its financials are subject to volatility in the movement of this currency relative to its other functional currencies (similar to the current environment).",
    "output": "[Cause] it reports in Mexican pesos [Relation] cause [Effect] its financials are subject to volatility in the movement of this currency relative to its other functional currencies (similar to the current environment)",
    "gold": "[Cause]  it reports in Mexican pesos [Relation] cause [Effect] its financials are subject to volatility in the movement of this currency relative to its other functional currencies (similar to the current environment)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sysco also uses its scale to differentiate itself from smaller regional and local players by offering clients products and services that smaller distributors cannot offer, such as technology tools that help their customers better manage their businesses.",
    "output": "[Cause] offering clients products and services that smaller distributors cannot offer, such as technology tools that help their customers better manage their businesses [Relation] enable [Effect] Sysco also uses its scale to differentiate itself from smaller regional and local players",
    "gold": "[Cause] its scale to differentiate itself from smaller regional and local players by offering clients products and services that smaller distributors cannot offer, such as technology tools [Relation] cause [Effect] help their customers better manage their businesses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although the renewable energy business is growing faster than the utility, we expect ConEd to divest its natural gas transmission assets in the near future. Thus, we expect non-utility earnings to be less than 10% of earnings and will likely remain near this level of contribution for the foreseeable future.",
    "output": "[Cause] Although the renewable energy business is growing faster than the utility, we expect ConEd to divest its natural gas transmission assets in the near future [Relation] cause [Effect] non-utility earnings to be less than 10% of earnings and will likely remain near this level of contribution for the foreseeable future",
    "gold": "[Cause] Although the renewable energy business is growing faster than the utility, we expect ConEd to divest its natural gas transmission assets in the near future [Relation] cause [Effect]  non-utility earnings to be less than 10% of earnings and will likely remain near this level of contribution for the foreseeable future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Improving underwriting quality through better risk selection is probably the strongest means to achieve a competitive advantage and can be achieved by better risk selection, and analysis and interpretation of these risks, generally in specialist lines.",
    "output": "[Cause] Improving underwriting quality through better risk selection [Relation] enable [Effect] achieve a competitive advantage",
    "gold": "[Cause] Improving underwriting quality through better risk selection [Relation] enable [Effect] achieve a competitive advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The ESG field to which Telefonica is more exposed is data privacy and security, as it manages huge amounts of customer information.",
    "output": "[Cause] it manages huge amounts of customer information [Relation] cause [Effect] The ESG field to which Telefonica is more exposed is data privacy and security",
    "gold": "[Cause] The ESG field to which Telefonica is more exposed is data privacy and security [Relation] cause [Effect] as it manages huge amounts of customer information",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Credit losses are trending very low, and we project that Wells will see minimal credit losses from the pandemic going forward.",
    "output": "[Cause] Credit losses are trending very low [Relation] cause [Effect] Wells will see minimal credit losses from the pandemic going forward",
    "gold": "[Cause] Credit losses are trending very low [Relation] cause [Effect] Wells will see minimal credit losses from the pandemic going forward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast flat to low-single-digit premium growth given the majority of Prudential's insurance book is in the mature markets of Japan and the United States.",
    "output": "[Cause] the majority of Prudential's insurance book is in the mature markets of Japan and the United States [Relation] cause [Effect] We forecast flat to low-single-digit premium growth",
    "gold": "[Cause] the majority of Prudential's insurance book is in the mature markets of Japan and the United States [Relation] cause [Effect] We forecast flat to low-single-digit premium growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Operating in offshore environments exposes Equinor to the risk of large oil spills that could result in material losses through lost revenue, fines or penalties, or loss of a license to operate.",
    "output": "[Cause] Operating in offshore environments exposes Equinor to the risk of large oil spills [Relation] cause [Effect] material losses through lost revenue, fines or penalties, or loss of a license to operate",
    "gold": "[Cause] Operating in offshore environments exposes Equinor to the risk of large oil spills [Relation] cause [Effect] material losses through lost revenue, fines or penalties, or loss of a license to operate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the total payout set at 75% of free cash flows, the stock would have an effective yield of over 5%.",
    "output": "[Cause] the total payout set at 75% of free cash flows [Relation] cause [Effect] the stock would have an effective yield of over 5%",
    "gold": "[Cause] the total payout set at 75% of free cash flows [Relation] enable [Effect]  the stock would have an effective yield of over 5%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Focused entry from Google, Facebook, Alibaba, Amazon, and others could double the current handful of players that have dominant scale, leading to a meaningful impact on profitability.",
    "output": "[Cause] Focused entry from Google, Facebook, Alibaba, Amazon, and others [Relation] enable [Effect] double the current handful of players that have dominant scale",
    "gold": "[Cause] Focused entry from Google, Facebook, Alibaba, Amazon, and others [Relation] cause [Effect] double the current handful of players that have dominant scale",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With sales returning to a positive growth rate, we anticipate full-year 2021 growth of 12.4% and operating margin of 26.9%, a 100 basis point margin increase compared with 2020.",
    "output": "[Cause] sales returning to a positive growth rate [Relation] cause [Effect] we anticipate full-year 2021 growth of 12.4% and operating margin of 26.9%, a 100 basis point margin increase compared with 2020",
    "gold": "[Cause] sales returning to a positive growth rate [Relation] cause [Effect] we anticipate full-year 2021 growth of 12.4% and operating margin of 26.9%, a 100 basis point margin increase compared with 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Once Merck's products are chosen by the end user as part of the production process of a molecule at the beginning of the clinical trial process, the client is unlikely to switch due to regulatory and reproducibility factors.",
    "output": "[Cause] regulatory and reproducibility factors [Relation] cause [Effect] the client is unlikely to switch",
    "gold": "[Cause] Merck's products are chosen by the end user as part of the production process of a molecule at the beginning of the clinical trial process [Relation] cause [Effect] the client is unlikely to switch",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Once Merck's products are chosen by the end user as part of the production process of a molecule at the beginning of the clinical trial process, the client is unlikely to switch due to regulatory and reproducibility factors.",
    "output": "[Cause] regulatory and reproducibility factors [Relation] cause [Effect] the client is unlikely to switch",
    "gold": "[Cause] regulatory and reproducibility factors [Relation] cause [Effect] the client is unlikely to switch",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Meanwhile, we think Baker Hughes actually has plenty of room to improve on the performance record of its predecessors thanks to more mundane improvements.",
    "output": "[Cause] more mundane improvements [Relation] enable [Effect] Baker Hughes actually has plenty of room to improve on the performance record of its predecessors",
    "gold": "[Cause] more mundane improvements [Relation] cause [Effect] Baker Hughes actually has plenty of room to improve on the performance record of its predecessors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even in the event of that shift, we believe the hurdles in developing a widely used and available solution that is purely digital would mainly revolve around developing a global network of mobile carriers and addressing regulatory issues across multiple countries, challenges for which Western Union is uniquely experienced. As a result, Western Union looks like the company most likely to be the long-term leader in mobile phone transfers, in our opinion.",
    "output": "[Cause] the hurdles in developing a widely used and available solution that is purely digital would mainly revolve around developing a global network of mobile carriers and addressing regulatory issues across multiple countries, challenges for which Western Union is uniquely experienced [Relation] cause [Effect] Western Union looks like the company most likely to be the long-term leader in mobile phone transfers, in our opinion",
    "gold": "[Cause] the hurdles in developing a widely used and available solution that is purely digital would mainly revolve around developing a global network of mobile carriers and addressing regulatory issues across multiple countries, challenges for which Western Union is uniquely experienced [Relation] cause [Effect] Western Union looks like the company most likely to be the long-term leader in mobile phone transfers, in our opinion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do not think this represents a material liability for Hain, as the problem is throughout the industry (not Hain specific) and as the product represents a small portion of Hain's sales.",
    "output": "[Cause] the problem is throughout the industry (not Hain specific) and as the product represents a small portion of Hain's sales [Relation] cause [Effect] We do not think this represents a material liability for Hain",
    "gold": "[Cause] the problem is throughout the industry (not Hain specific) and as the product represents a small portion of Hain's sales [Relation] cause [Effect] We do not think this represents a material liability for Hain",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although lithium hydroxide has traditionally made up a small portion of total lithium demand, electric vehicle batteries will increasingly use lithium hydroxide as hydroxide-based battery chemistries generally allow electric vehicles to have a greater range than lithium carbonate.",
    "output": "[Cause] hydroxide-based battery chemistries generally allow electric vehicles to have a greater range than lithium carbonate [Relation] cause [Effect] electric vehicle batteries will increasingly use lithium hydroxide",
    "gold": "[Cause]  hydroxide-based battery chemistries generally allow electric vehicles to have a greater range than lithium carbonate [Relation] cause [Effect] electric vehicle batteries will increasingly use lithium hydroxide",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Comcast increases its share of total customer telecom spending in a given neighborhood, we expect it will be able to further outspend rivals on network maintenance and upgrades while gaining operating cost efficiencies.",
    "output": "[Cause] Comcast increases its share of total customer telecom spending in a given neighborhood [Relation] enable [Effect] it will be able to further outspend rivals on network maintenance and upgrades while gaining operating cost efficiencies",
    "gold": "[Cause]  Comcast increases its share of total customer telecom spending in a given neighborhood [Relation] cause [Effect]  it will be able to further outspend rivals on network maintenance and upgrades while gaining operating cost efficiencies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect electricity demand to rebound quickly to prepandemic levels on a nationwide basis, but sustained low oil and gas prices could be a drag on electricity demand in Texas, where NRG has the bulk of its business.",
    "output": "[Cause] sustained low oil and gas prices [Relation] prevent [Effect] electricity demand in Texas",
    "gold": "[Cause] sustained low oil and gas prices [Relation] prevent [Effect] electricity demand in Texas",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We attribute this to the firm's inability to sufficiently respond to secular demand changes (the push to less structured bras), which resulted in an elevated promotional cadence that failed to lift sales of its out-of-favor merchandise.",
    "output": "[Cause] an elevated promotional cadence [Relation] prevent [Effect] lift sales of its out-of-favor merchandise",
    "gold": "[Cause] an elevated promotional cadence [Relation] prevent [Effect]  lift sales of its out-of-favor merchandise",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Brazilian sovereign debt is rated non-investment-grade by DBRS at BB (low), and a widening deficit in tandem with anemic growth will do the country few favors.",
    "output": "[Cause] a widening deficit in tandem with anemic growth [Relation] cause [Effect] do the country few favors",
    "gold": "[Cause] anemic growth [Relation] cause [Effect] a widening deficit in tandem",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Brazilian sovereign debt is rated non-investment-grade by DBRS at BB (low), and a widening deficit in tandem with anemic growth will do the country few favors.",
    "output": "[Cause] a widening deficit in tandem with anemic growth [Relation] cause [Effect] do the country few favors",
    "gold": "[Cause] Brazilian sovereign debt is rated non-investment-grade [Relation] cause [Effect] the country few favors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Any revisions to phase 3 trial designs (which occasionally do happen, usually due to issues with enrollment or adjusting for statistical power) result in substantial delays and additional costs, which heightens the importance of getting the design correct the first time.",
    "output": "[Cause] substantial delays and additional costs [Relation] cause [Effect] heightens the importance of getting the design correct the first time",
    "gold": "[Cause] Any revisions to phase 3 trial designs [Relation] cause [Effect] substantial delays and additional costs, which heightens the importance of getting the design correct the first time",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With higher gross margin, and less incremental investments required for sales and developments per customer, we expect operating margin expansion per customer over time.",
    "output": "[Cause] higher gross margin, and less incremental investments required for sales and developments per customer [Relation] cause [Effect] operating margin expansion per customer over time",
    "gold": "[Cause] higher gross margin, and less incremental investments required for sales and developments per customer [Relation] cause [Effect] operating margin expansion per customer over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In automotive, we think demand for vehicle repair work will be strong in the near term, largely due to vehicle owners taking in their cars for overdue servicing (delayed due to the COVID-19 pandemic).",
    "output": "[Cause] vehicle owners taking in their cars for overdue servicing (delayed due to the COVID-19 pandemic) [Relation] cause [Effect] demand for vehicle repair work will be strong in the near term",
    "gold": "[Cause] vehicle owners taking in their cars for overdue servicing (delayed due to the COVID-19 pandemic) [Relation] cause [Effect] demand for vehicle repair work will be strong in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we do not expect the segment's sales to reach 2014 levels, sudden spikes in demand for certain products can significantly alter the company's earnings.",
    "output": "[Cause] sudden spikes in demand for certain products [Relation] cause [Effect] significantly alter the company's earnings",
    "gold": "[Cause] sudden spikes in demand for certain products [Relation] prevent [Effect] significantly alter the company's earnings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since its business is includes a substantial chunk of life-sustaining products, the firm faces risks of product defects, recalls, and litigation.",
    "output": "[Cause] its business is includes a substantial chunk of life-sustaining products [Relation] cause [Effect] the firm faces risks of product defects, recalls, and litigation",
    "gold": "[Cause] its business is includes a substantial chunk of life-sustaining products [Relation] cause [Effect] the firm faces risks of product defects, recalls, and litigation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect to see subdued margin in the near term due to COVID-19 but expect non-GAAP operating margin to expand in the long run.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] subdued margin in the near term",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] subdued margin in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assign ResMed a medium uncertainty rating, as the company operates in a regulated industry that has experienced ongoing reimbursement-related pricing pressure.",
    "output": "[Cause] the company operates in a regulated industry that has experienced ongoing reimbursement-related pricing pressure [Relation] cause [Effect] We assign ResMed a medium uncertainty rating",
    "gold": "[Cause]  the company operates in a regulated industry that has experienced ongoing reimbursement-related pricing pressure [Relation] cause [Effect] We assign ResMed a medium uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the ease of obtaining Lennox products, contractors can pick up products on the installation day, which eliminates their need to hold inventory.",
    "output": "[Cause] the ease of obtaining Lennox products [Relation] cause [Effect] contractors can pick up products on the installation day",
    "gold": "[Cause]  the ease of obtaining Lennox products [Relation] cause [Effect] contractors can pick up products on the installation day",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the ease of obtaining Lennox products, contractors can pick up products on the installation day, which eliminates their need to hold inventory.",
    "output": "[Cause] contractors can pick up products on the installation day [Relation] enable [Effect] eliminates their need to hold inventory",
    "gold": "[Cause] contractors can pick up products on the installation day [Relation] cause [Effect] eliminates their need to hold inventory",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think this leads to lower returns on invested capital, as we think such specialization results in a mix toward more offerings spread across fewer companies, meaning less scaling effect per offering.",
    "output": "[Cause] such specialization results in a mix toward more offerings spread across fewer companies [Relation] cause [Effect] lower returns on invested capital",
    "gold": "[Cause]  we think such specialization results in a mix toward more offerings spread across fewer companies [Relation] cause [Effect]  leads to lower returns on invested capita",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Investment in innovative offerings, category expansions, and omnichannel have provided a chance for BBW to maintain such profit levels, efforts that we don't expect to slow.",
    "output": "[Cause] Investment in innovative offerings, category expansions, and omnichannel [Relation] enable [Effect] BBW to maintain such profit levels",
    "gold": "[Cause] Investment in innovative offerings, category expansions, and omnichannel have provided a chance for BBW to maintain such profit levels [Relation] prevent [Effect] efforts | slow",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A higher share of retail energy earnings helps offset the long-term threat to NRG's legacy fossil fuel generation fleet as renewable energy grows.",
    "output": "[Cause] A higher share of retail energy earnings [Relation] prevent [Effect] the long-term threat to NRG's legacy fossil fuel generation fleet as renewable energy grows",
    "gold": "[Cause] A higher share of retail energy earnings [Relation] enable [Effect] offset the long-term threat to NRG's legacy fossil fuel generation fleet",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We don't expect the technology for engine, chassis, and accessories to change enough incrementally each year to drive substantial annual replacement demand, leading to our long-term outlook for low-single-digit industry growth.",
    "output": "[Cause] We don't expect the technology for engine, chassis, and accessories to change enough incrementally each year to drive substantial annual replacement demand [Relation] cause [Effect] our long-term outlook for low-single-digit industry growth",
    "gold": "[Cause] We don't expect the technology for engine, chassis, and accessories to change enough incrementally each year to drive substantial annual replacement demand [Relation] cause [Effect] our long-term outlook for low-single-digit industry growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company has also been hurt by the inability to offset pricing erosion with new product launches of new generic or specialty drugs like its significantly larger peers.",
    "output": "[Cause] the inability to offset pricing erosion with new product launches of new generic or specialty drugs like its significantly larger peers [Relation] cause [Effect] The company has also been hurt",
    "gold": "[Cause] the inability to offset pricing erosion with new product launches of new generic or specialty drugs like its significantly larger peers [Relation] cause [Effect] The company has also been hurt",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Texas Instruments has successfully expanded gross margins in recent years, first by focusing on higher-margin analog products and, later, by using the shrewd purchases of used equipment in prior years to gain a cost advantage going forward.",
    "output": "[Cause] focusing on higher-margin analog products [Relation] enable [Effect] Texas Instruments has successfully expanded gross margins in recent years",
    "gold": "[Cause] focusing on higher-margin analog products [Relation] cause [Effect] Texas Instruments has successfully expanded gross margins in recent years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Texas Instruments has successfully expanded gross margins in recent years, first by focusing on higher-margin analog products and, later, by using the shrewd purchases of used equipment in prior years to gain a cost advantage going forward.",
    "output": "[Cause] using the shrewd purchases of used equipment in prior years [Relation] enable [Effect] gain a cost advantage going forward",
    "gold": "[Cause] using the shrewd purchases of used equipment in prior years to gain a cost advantage going forward [Relation] cause [Effect] Texas Instruments has successfully expanded gross margins in recent years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Fresenius' experience operating over 4,000 dialysis clinics around the globe (roughly 1,000 more than the next-largest player, DaVita) gives it insights into caregiver and patient needs to inform service offerings and product innovation.",
    "output": "[Cause] Fresenius' experience operating over 4,000 dialysis clinics around the globe [Relation] enable [Effect] gives it insights into caregiver and patient needs to inform service offerings and product innovation",
    "gold": "[Cause] Fresenius' experience operating over 4,000 dialysis clinics around the globe [Relation] enable [Effect] gives it insights into caregiver and patient needs to inform service offerings and product innovation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At the product segment, we expect 25% margins in 2020 with an annual 50-basis-point decline through 2025 as the product mix continues to pressure unit margins.",
    "output": "[Cause] the product mix continues to pressure unit margins [Relation] cause [Effect] 25% margins in 2020 with an annual 50-basis-point decline through 2025",
    "gold": "[Cause] the product mix continues to pressure unit margins [Relation] cause [Effect] 25% margins in 2020 with an annual 50-basis-point decline through 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Circuit protection products safeguard against electrostatic discharge and overcurrent to prevent component failure and/or fire in cars, power grids, data centers, and manufacturing plants.",
    "output": "[Cause] Circuit protection products safeguard against electrostatic discharge and overcurrent [Relation] prevent [Effect] component failure and/or fire in cars, power grids, data centers, and manufacturing plants",
    "gold": "[Cause] Circuit protection products [Relation] prevent [Effect] electrostatic discharge and overcurrent",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Features Clorox has added to trash bags include scents, leak guards, and extra strength, which has enabled the company to grow to greater than 50% share in the premium trash bag category, which boasts higher margins and faster growth than the trash bag category overall.",
    "output": "[Cause] Features Clorox has added to trash bags include scents, leak guards, and extra strength [Relation] enable [Effect] the company to grow to greater than 50% share in the premium trash bag category, which boasts higher margins and faster growth than the trash bag category overall",
    "gold": "[Cause] Features Clorox has added to trash bags include scents, leak guards, and extra strength [Relation] enable [Effect] which has enabled the company to grow to greater than 50% share in the premium trash bag category, which boasts higher margins and faster growth than the trash bag category overal",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect additional indications in areas such as the recently added severe asthma indication will help the drug add additional patients.",
    "output": "[Cause] additional indications in areas such as the recently added severe asthma indication [Relation] enable [Effect] help the drug add additional patients",
    "gold": "[Cause]  additional indications in areas such as the recently added severe asthma indication [Relation] enable [Effect] help the drug add additional patients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Whichever route is chosen in how a customer may leave an Oracle product, it likely leads to vulnerabilities in other Oracle products a customer may have.",
    "output": "[Cause] Whichever route is chosen in how a customer may leave an Oracle product [Relation] cause [Effect] vulnerabilities in other Oracle products a customer may have",
    "gold": "[Cause] Whichever route is chosen in how a customer may leave an Oracle product [Relation] cause [Effect] vulnerabilities in other Oracle products a customer may have",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While competing firms could theoretically reverse engineer the product to design a replacement, this is challenging because the designs are proprietary and thus never shared.",
    "output": "[Cause] the designs are proprietary and thus never shared [Relation] cause [Effect] competing firms could theoretically reverse engineer the product to design a replacement",
    "gold": "[Cause] the designs are proprietary [Relation] cause [Effect] never shared",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company has several partnered programs, for which it would receive royalties or a share of the profits if the candidate is approved.",
    "output": "[Cause] the candidate is approved [Relation] enable [Effect] it would receive royalties or a share of the profits",
    "gold": "[Cause]  it would receive royalties or a share of the profits if the candidate is approved [Relation] enable [Effect] The company has several partnered programs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For one, Beyond may not be able to obtain sufficient pea protein supply, or ramp capacity quickly enough, given the six-month lead times for additional extruders, used in production.",
    "output": "[Cause] the six-month lead times for additional extruders, used in production [Relation] cause [Effect] Beyond may not be able to obtain sufficient pea protein supply, or ramp capacity quickly enough",
    "gold": "[Cause] the six-month lead times for additional extruders, used in production [Relation] cause [Effect] Beyond may not be able to obtain sufficient pea protein supply, or ramp capacity quickly enough",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The consolidation of Mead Johnson will do little to improve the firm's cost positioning, as Mead is also a midtier operator on costs, based on the same analysis.",
    "output": "[Cause] Mead is also a midtier operator on costs, based on the same analysis [Relation] cause [Effect] The consolidation of Mead Johnson will do little to improve the firm's cost positioning",
    "gold": "[Cause] Mead is also a midtier operator on costs, based on the same analysis [Relation] cause [Effect] The consolidation of Mead Johnson will do little to improve the firm's cost positioning",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Relative to its largest peer, Crown, Ball has greater exposure to developed markets, where falling carbonated soft drink and mainstream beer volume will likely weigh on demand.",
    "output": "[Cause] falling carbonated soft drink and mainstream beer volume [Relation] cause [Effect] weigh on demand",
    "gold": "[Cause] falling carbonated soft drink and mainstream beer volume [Relation] enable [Effect] weigh on demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additional short-term disruptions may arise from global regulatory and geopolitical risks in the global oil and gas supply chain and transport logistics.",
    "output": "[Cause] global regulatory and geopolitical risks in the global oil and gas supply chain and transport logistics [Relation] cause [Effect] Additional short-term disruptions",
    "gold": "[Cause] global regulatory and geopolitical risks in the global oil and gas supply chain and transport logistics [Relation] cause [Effect] Additional short-term disruptions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even for intermodal container freight, which is largely made up of consumer-related products, rail has historically been cheaper than its key competitor truckload shipping on average over the cycle thanks to the rails' aforementioned fuel efficiency and more economical use of labor.",
    "output": "[Cause] the rails' aforementioned fuel efficiency and more economical use of labor [Relation] cause [Effect] rail has historically been cheaper than its key competitor truckload shipping on average over the cycle",
    "gold": "[Cause] the rails' aforementioned fuel efficiency and more economical use of labor [Relation] cause [Effect]  rail has historically been cheaper than its key competitor truckload shipping on average over the cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As always, macro trends surrounding employment and demographics can experience dramatic shifts and have a significant impact on demand for office space.",
    "output": "[Cause] macro trends surrounding employment and demographics [Relation] cause [Effect] experience dramatic shifts and have a significant impact on demand for office space",
    "gold": "[Cause] macro trends surrounding employment and demographics [Relation] cause [Effect] experience dramatic shifts and have a significant impact on demand for office space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Dynegy's fleet more than tripled the size of Vistra's generation fleet after accounting for Vistra's three legacy coal plant closures in early 2018.",
    "output": "[Cause] accounting for Vistra's three legacy coal plant closures in early 2018 [Relation] cause [Effect] Dynegy's fleet more than tripled the size of Vistra's generation fleet",
    "gold": "[Cause] accounting for Vistra's three legacy coal plant closures in early 2018 [Relation] cause [Effect] Dynegy's fleet more than tripled the size of Vistra's generation fleet",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Some essential eye procedures, such as cataract removal, use Alcon equipment, and access to basic services could be a concern given the high prices of some of Aligns eyecare systems.",
    "output": "[Cause] the high prices of some of Aligns eyecare systems [Relation] cause [Effect] Some essential eye procedures, such as cataract removal, use Alcon equipment, and access to basic services could be a concern",
    "gold": "[Cause] the high prices of some of Aligns eyecare systems [Relation] cause [Effect] Some essential eye procedures, such as cataract removal, use Alcon equipment, and access to basic services could be a concern",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because McCormick produces and distributes spices and seasonings, its cost structure maintains a bent toward commodity-based raw materials such as pepper, vanilla, garlic, and capsicums, which can be volatile and where hedging options are limited.",
    "output": "[Cause] McCormick produces and distributes spices and seasonings [Relation] cause [Effect] its cost structure maintains a bent toward commodity-based raw materials such as pepper, vanilla, garlic, and capsicums, which can be volatile and where hedging options are limited",
    "gold": "[Cause]  cost structure maintains a bent toward commodity-based raw materials [Relation] cause [Effect] hedging options are limited",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, once the diamide (Rynaxypyr and Cyazypyr) patents begin to expire in 2026, we forecast long-term margins to decline to the high 20s, as the new products, while profitable, are unlikely to match the size of the diamide's success.",
    "output": "[Cause] the new products, while profitable, are unlikely to match the size of the diamide's success [Relation] cause [Effect] long-term margins to decline to the high 20s",
    "gold": "[Cause] the new products, while profitable, are unlikely to match the size of the diamide's success [Relation] cause [Effect] long-term margins to decline to the high 20s",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The new towers and a bigger revenue shift toward the lower-margin Indian business should lead to a slight drop in gross margin over the next few years, but we expect it to be back to 2018 levels by 2023.",
    "output": "[Cause] The new towers and a bigger revenue shift toward the lower-margin Indian business [Relation] cause [Effect] a slight drop in gross margin over the next few years",
    "gold": "[Cause] The new towers and a bigger revenue shift toward the lower-margin Indian business [Relation] cause [Effect] a slight drop in gross margin over the next few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Estee is extracting inefficiencies from the channel's cost base to be more aligned with the current revenue opportunity, but an acceleration in traffic declines would undoubtedly affect profits, as it still represents a material portion of sales.",
    "output": "[Cause] it still represents a material portion of sales [Relation] cause [Effect] an acceleration in traffic declines would undoubtedly affect profits",
    "gold": "[Cause]  it still represents a material portion of sales [Relation] cause [Effect] an acceleration in traffic declines would undoubtedly affect profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe this transition could help Ameriprise set itself apart from many of its peers, with its balanced business mix providing it with the best of both worlds--high returns and low capital requirements in its investment management businesses and stable cash flows from its insurance operations.",
    "output": "[Cause] this transition [Relation] enable [Effect] help Ameriprise set itself apart from many of its peers",
    "gold": "[Cause] this transition [Relation] enable [Effect] help Ameriprise set itself apart from many of its peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We upgraded Plains to wide in 2017 because of its extensive asset base across the entire midstream value chain in the Permian Basin, which is the lowest-cost U.S.",
    "output": "[Cause] its extensive asset base across the entire midstream value chain in the Permian Basin [Relation] cause [Effect] We upgraded Plains to wide in 2017",
    "gold": "[Cause] its extensive asset base across the entire midstream value chain in the Permian Basin [Relation] cause [Effect] We upgraded Plains to wide in 2017",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ionis therapies alter production of a given protein in the body, typically reducing production of a toxic, mutant version. Therefore, Ionis can tackle diseases that are difficult to treat effectively with other methods, as its therapies are targeted (avoiding safety issues with off-target effects of small molecule drugs), can act inside the cell (unlike antibody therapies), and are reversible (unlike gene therapy).",
    "output": "[Cause] Ionis therapies alter production of a given protein in the body, typically reducing production of a toxic, mutant version [Relation] cause [Effect] Ionis can tackle diseases that are difficult to treat effectively with other methods, as its therapies are targeted (avoiding safety issues with off-target effects of small molecule drugs), can act inside the cell (unlike antibody therapies), and are reversible (unlike gene therapy)",
    "gold": "[Cause] Ionis therapies alter production of a given protein in the body, typically reducing production of a toxic, mutant version [Relation] cause [Effect]  Ionis can tackle diseases that are difficult to treat effectively with other methods, as its therapies are targeted (avoiding safety issues with off-target effects of small molecule drugs), can act inside the cell (unlike antibody therapies), and are reversible (unlike gene therapy)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Larger customers are usually stickier, as it would be more operationally invasive for them to rip out a large-scale contact center or compliance solution, given that they are more likely to utilize a greater amount of software solutions that are highly integrated with company operations.",
    "output": "[Cause] it would be more operationally invasive for them to rip out a large-scale contact center or compliance solution [Relation] cause [Effect] Larger customers are usually stickier",
    "gold": "[Cause]  it would be more operationally invasive for them to rip out a large-scale contact center or compliance solution [Relation] cause [Effect] Larger customers are usually stickier",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Larger customers are usually stickier, as it would be more operationally invasive for them to rip out a large-scale contact center or compliance solution, given that they are more likely to utilize a greater amount of software solutions that are highly integrated with company operations.",
    "output": "[Cause] they are more likely to utilize a greater amount of software solutions that are highly integrated with company operations [Relation] cause [Effect] Larger customers are usually stickier",
    "gold": "[Cause] Larger customers are usually stickier [Relation] cause [Effect] they are more likely to utilize a greater amount of software solutions that are highly integrated with company operations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These custom integrations make Nice's offering more tightly woven with the day-to-day functionalities of businesses and makes it important in facilitating communications.",
    "output": "[Cause] These custom integrations [Relation] enable [Effect] Nice's offering more tightly woven with the day-to-day functionalities of businesses and makes it important in facilitating communications",
    "gold": "[Cause] These custom integrations [Relation] enable [Effect]  Nice's offering more tightly woven with the day-to-day functionalities of businesses and makes it important in facilitating communications",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our fair value estimate for Maxim is $76 per share, based on a probability weighting associated with the company's pending merger of ADI.",
    "output": "[Cause] a probability weighting associated with the company's pending merger of ADI [Relation] cause [Effect] Our fair value estimate for Maxim is $76 per share",
    "gold": "[Cause] a probability weighting associated with the company's pending merger of ADI [Relation] enable [Effect] Our fair value estimate for Maxim is $76 per share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we believe this strategy has helped establish its name within the perimeters of localized networks, we expect Fortinet to supplement its engineering prowess with inorganic growth in areas like cloud-based security, machine learning, and automated threat responses.",
    "output": "[Cause] this strategy [Relation] enable [Effect] established its name within the perimeters of localized networks",
    "gold": "[Cause] this strategy [Relation] enable [Effect]  helped establish its name within the perimeters of localized networks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The therapeutic area overlap and $2.5 billion in annual cost synergies expected by 2022 (the majority from selling, general, and administrative expense and likely commercial overlap and overhead) should make the deal positive strategically.",
    "output": "[Cause] The therapeutic area overlap and $2.5 billion in annual cost synergies expected by 2022 (the majority from selling, general, and administrative expense and likely commercial overlap and overhead) [Relation] enable [Effect] make the deal positive strategically",
    "gold": "[Cause] The therapeutic area overlap and $2.5 billion in annual cost synergies expected by 2022 (the majority from selling, general, and administrative expense and likely commercial overlap and overhead) [Relation] enable [Effect] make the deal positive strategically",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, electrification of the vehicle fleet could reduce repair needs, an indirect ESG risk (albeit one we believe is unlikely to be material).",
    "output": "[Cause] electrification of the vehicle fleet [Relation] cause [Effect] reduce repair needs",
    "gold": "[Cause] electrification of the vehicle fleet [Relation] cause [Effect] reduce repair needs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For the following 30 years, Teva completed roughly 30 acquisitions to further its position as the largest global generic manufacturer with roughly 90 manufacturing and research and development facilities worldwide.",
    "output": "[Cause] For the following 30 years, Teva completed roughly 30 acquisitions [Relation] enable [Effect] further its position as the largest global generic manufacturer with roughly 90 manufacturing and research and development facilities worldwide",
    "gold": "[Cause] For the following 30 years, Teva completed roughly 30 acquisitions [Relation] enable [Effect] further its position as the largest global generic manufacturer with roughly 90 manufacturing and research and development facilities worldwide",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the industry resumes operations, opportunities to improve Carnival's operating margins should exist; this includes increased scale as the full fleet sails and improved brand awareness via the implementation of higher safety measures, which should increase adjusted EBITDA margins to around 30% toward the end of our forecast.",
    "output": "[Cause] the industry resumes operations [Relation] cause [Effect] opportunities to improve Carnival's operating margins should exist; this includes increased scale as the full fleet sails and improved brand awareness via the implementation of higher safety measures, which should increase adjusted EBITDA margins to around 30% toward the end of our forecast",
    "gold": "[Cause]  opportunities to improve Carnival's operating margins should exist; this includes increased scale as the full fleet sails and improved brand awareness via the implementation of higher safety measures [Relation] enable [Effect] increase adjusted EBITDA margins to around 30% toward the end of our forecast",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe Sabre's advantages will remain in place despite potential risks of financial strain tarnishing the company's ability to invest in its platform in the near term and the potential for structurally lower corporate travel demand that might have otherwise occurred without shelter-in-place efforts.",
    "output": "[Cause] the potential for structurally lower corporate travel demand [Relation] cause [Effect] might have otherwise occurred without shelter-in-place efforts",
    "gold": "[Cause] without shelter-in-place efforts [Relation] cause [Effect] the potential for structurally lower corporate travel demand that might have otherwise occurred",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, ServiceNow will benefit first from continued share gains in ITSM at the expense of legacy vendors, and then from upselling customers with additional seats, features, and add-on products.",
    "output": "[Cause] upselling customers with additional seats, features, and add-on products [Relation] enable [Effect] ServiceNow will benefit first from continued share gains in ITSM at the expense of legacy vendors",
    "gold": "[Cause] the expense of legacy vendor [Relation] cause [Effect] continued share gains",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe fleet owners benefit from using a uniform set of products in their trucks, which helps curb additional operating expenses.",
    "output": "[Cause] fleet owners benefit from using a uniform set of products in their trucks [Relation] enable [Effect] curb additional operating expenses",
    "gold": "[Cause] fleet owners benefit from using a uniform set of products in their trucks [Relation] enable [Effect] curb additional operating expenses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Amazon's growing clout with suppliers and advertisers, a higher proportion of third-party units in the sales mix, AWS customer acquisition and greater engagement among existing AWS customers, and advertising service offerings should allow for higher gross margins.",
    "output": "[Cause] Amazon's growing clout with suppliers and advertisers, a higher proportion of third-party units in the sales mix, AWS customer acquisition and greater engagement among existing AWS customers, and advertising service offerings [Relation] enable [Effect] higher gross margins",
    "gold": "[Cause] Amazon's growing clout with suppliers and advertisers, a higher proportion of third-party units in the sales mix, AWS customer acquisition and greater engagement among existing AWS customers, and advertising service offerings [Relation] cause [Effect] higher gross margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The increase in our capital expenditure estimates resulted in our five-year annual EPS growth rate expanding to 6% from 5%.",
    "output": "[Cause] The increase in our capital expenditure estimates [Relation] cause [Effect] our five-year annual EPS growth rate expanding to 6% from 5%",
    "gold": "[Cause] The increase in our capital expenditure estimates [Relation] cause [Effect] our five-year annual EPS growth rate expanding to 6% from 5%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While its Canadian operations are strong, Scotiabank has the least proportional exposure to Canada among the Big Six banks, as nearly 50% of operations are outside Canada, primarily in Latin America.",
    "output": "[Cause] nearly 50% of operations are outside Canada, primarily in Latin America [Relation] cause [Effect] Scotiabank has the least proportional exposure to Canada among the Big Six banks",
    "gold": "[Cause] nearly 50% of operations are outside Canada, primarily in Latin America [Relation] cause [Effect] Scotiabank has the least proportional exposure to Canada among the Big Six banks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Historically, Hyatt has relied on self-funding to support growth of its brands, leading to a high exposure of owned assets.",
    "output": "[Cause] Hyatt has relied on self-funding to support growth of its brands [Relation] cause [Effect] a high exposure of owned assets",
    "gold": "[Cause] Hyatt has relied on self-funding to support growth of its brands [Relation] cause [Effect] a high exposure of owned assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thanks to its solid efficacy, we think Adcetris will hold its strong position in Hodgkin lymphoma, and we see ample room to grow in non-Hodgkin over the next several years.",
    "output": "[Cause] its solid efficacy [Relation] enable [Effect] Adcetris will hold its strong position in Hodgkin lymphoma",
    "gold": "[Cause]  its solid efficacy [Relation] cause [Effect] Adcetris will hold its strong position in Hodgkin lymphoma",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thanks to its solid efficacy, we think Adcetris will hold its strong position in Hodgkin lymphoma, and we see ample room to grow in non-Hodgkin over the next several years.",
    "output": "[Cause] its solid efficacy [Relation] enable [Effect] Adcetris will hold its strong position in Hodgkin lymphoma",
    "gold": "[Cause]  its solid efficacy [Relation] enable [Effect] ample room to grow in non-Hodgkin over the next several years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Unlike the pharmaceutical distributors, Patterson competes in a less-complex and more-transparent dental market untethered by reimbursement and significant regulatory oversight.",
    "output": "[Cause] reimbursement and significant regulatory oversight [Relation] cause [Effect] Patterson competes in a less-complex and more-transparent dental market",
    "gold": "[Cause] Patterson competes in a less-complex and more-transparent dental market [Relation] cause [Effect] untethered by reimbursement and significant regulatory oversight",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Management has specifically stated that inflation has not had a significant impact on its operations over the last several years, as the firm has been able to lift prices and introduce new, higher-priced products to offset any cost increases.",
    "output": "[Cause] the firm has been able to lift prices and introduce new, higher-priced products to offset any cost increases [Relation] cause [Effect] Management has specifically stated that inflation has not had a significant impact on its operations over the last several years",
    "gold": "[Cause] the firm has been able to lift prices and introduce new, higher-priced products to offset any cost increases [Relation] cause [Effect] Management has specifically stated that inflation has not had a significant impact on its operations over the last several years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The automotive industry is highly cyclical, as its strength depends on employment and income levels, in addition to financing availability.",
    "output": "[Cause] its strength depends on employment and income levels, in addition to financing availability [Relation] cause [Effect] The automotive industry is highly cyclical",
    "gold": "[Cause]  its strength depends on employment and income levels, in addition to financing availability [Relation] cause [Effect] The automotive industry is highly cyclical",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Segment should integrate with Twilio's offerings to create a new layer of communication opportunities for businesses within its stack, thus augmenting the capabilities Twilio offers its clients.",
    "output": "[Cause] Segment should integrate with Twilio's offerings to create a new layer of communication opportunities for businesses within its stack [Relation] enable [Effect] augmenting the capabilities Twilio offers its clients",
    "gold": "[Cause] Segment should integrate with Twilio's offerings to create a new layer of communication opportunities for businesses within its stack [Relation] cause [Effect] augmenting the capabilities Twilio offers its clients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, we expect Airbnb to lower marketing expense to 23% of revenue in 2029 from 34% in 2019 (2019 was a heavier investment year, with 2018 marketing costs at 30% of sales), as the company benefits from strong global awareness and a more complete platform offering long term.  As a result, we estimate Airbnb's revenue growth to average 17% over the next 10 years, with operating margins expanding to the mid-20s in 2029 from negative 10% in 2019.",
    "output": "[Cause] Airbnb to lower marketing expense to 23% of revenue in 2029 from 34% in 2019 (2019 was a heavier investment year, with 2018 marketing costs at 30% of sales), as the company benefits from strong global awareness and a more complete platform offering long term [Relation] cause [Effect] Airbnb's revenue growth to average 17% over the next 10 years, with operating margins expanding to the mid-20s in 2029 from negative 10% in 2019",
    "gold": "[Cause] Airbnb to lower marketing expense to 23% of revenue in 2029 from 34% in 2019 (2019 was a heavier investment year, with 2018 marketing costs at 30% of sales), as the company benefits from strong global awareness and a more complete platform offering long term [Relation] cause [Effect] Airbnb's revenue growth to average 17% over the next 10 years, with operating margins expanding to the mid-20s in 2029 from negative 10% in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, about two thirds of its Medicare Advantage members have primary-care physicians that operate in value-based arrangements, which encourage those caregivers to improve quality and costs.",
    "output": "[Cause] about two thirds of its Medicare Advantage members have primary-care physicians that operate in value-based arrangements [Relation] enable [Effect] encourage those caregivers to improve quality and costs",
    "gold": "[Cause]  about two thirds of its Medicare Advantage members have primary-care physicians that operate in value-based arrangements [Relation] enable [Effect]  encourage those caregivers to improve quality and costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A carbon tax would likely increase the final price of refined products as emission costs would likely be born by consumers.",
    "output": "[Cause] emission costs would likely be born by consumers [Relation] cause [Effect] A carbon tax would likely increase the final price of refined products",
    "gold": "[Cause] emission costs would likely be born by consumers [Relation] cause [Effect] A carbon tax would likely increase the final price of refined products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Another factor for high switching costs, besides avoidance of potential loss in productivity, is that both the suppliers and the customers have mutually increased their respective knowledge about each other's products and business operations.",
    "output": "[Cause] avoidance of potential loss in productivity [Relation] cause [Effect] high switching costs",
    "gold": "[Cause] both the suppliers and the customers have mutually increased their respective knowledge about each other's products and business operations [Relation] cause [Effect]  high switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Another factor for high switching costs, besides avoidance of potential loss in productivity, is that both the suppliers and the customers have mutually increased their respective knowledge about each other's products and business operations.",
    "output": "[Cause] both the suppliers and the customers have mutually increased their respective knowledge about each other's products and business operations [Relation] cause [Effect] high switching costs",
    "gold": "[Cause] avoidance of potential loss in productivity [Relation] cause [Effect]  high switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The U.S., by some estimates, has 2 to 8 times as much retail square footage as other industrialized nations, and we believe the COVID-19 crisis will accelerate necessary downsizing.",
    "output": "[Cause] the COVID-19 crisis [Relation] cause [Effect] accelerate necessary downsizing",
    "gold": "[Cause] the COVID-19 crisis [Relation] cause [Effect] accelerate necessary downsizing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While many of GTT's costs will likely decline as technology continues evolving, margin expansion opportunities may be offset as competitive pressure forces GTT to pass these savings on to customers.",
    "output": "[Cause] competitive pressure forces GTT to pass these savings on to customers [Relation] cause [Effect] margin expansion opportunities may be offset",
    "gold": "[Cause] competitive pressure [Relation] cause [Effect] pass these savings on to customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "When insurance businesses chase after growth, this invariably can lead to underwriting problems. This is because where superior growth versus competitors is achieved, this is generally done at the expense of quality in underwriting.",
    "output": "[Cause] where superior growth versus competitors is achieved, this is generally done at the expense of quality in underwriting [Relation] cause [Effect] When insurance businesses chase after growth, this invariably can lead to underwriting problems",
    "gold": "[Cause]  where superior growth versus competitors is achieved, this is generally done at the expense of quality in underwriting [Relation] cause [Effect] When insurance businesses chase after growth, this invariably can lead to underwriting problems",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the medium term, we expect margins to recover to 1.9% from 1.7% in 2020 as we don't expect near-zero rates to become the new normal.",
    "output": "[Cause] we don't expect near-zero rates to become the new normal [Relation] cause [Effect] margins to recover to 1.9% from 1.7% in 2020",
    "gold": "[Cause] we don't expect near-zero rates to become the new normal [Relation] cause [Effect] margins to recover to 1.9% from 1.7% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With more than 100 bcf/d in interconnects and regulatory hurdles for competing projects, the pipeline should continue to capture a substantial share of incremental gas demand in the Northeast over the next few years.",
    "output": "[Cause] more than 100 bcf/d in interconnects and regulatory hurdles for competing projects [Relation] cause [Effect] the pipeline should continue to capture a substantial share of incremental gas demand in the Northeast over the next few years",
    "gold": "[Cause] more than 100 bcf/d in interconnects and regulatory hurdles for competing projects [Relation] enable [Effect] the pipeline should continue to capture a substantial share of incremental gas demand in the Northeast over the next few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "When it comes to labor costs, Caterpillar helps customers reduce labor costs through improved product efficiency (new features help customers complete jobs faster).",
    "output": "[Cause] improved product efficiency [Relation] enable [Effect] Caterpillar helps customers reduce labor costs",
    "gold": "[Cause]  improved product efficiency [Relation] enable [Effect] Caterpillar helps customers reduce labor costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the movement of landing pages is completed, the economy recovers, and more video content is released as macroeconomics improve, we expect Baidu and iQiyi's ad revenue to recover from a low base in the near term.",
    "output": "[Cause] the movement of landing pages is completed [Relation] cause [Effect] the economy recovers",
    "gold": "[Cause]  the movement of landing pages is completed [Relation] cause [Effect]  the economy recovers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the movement of landing pages is completed, the economy recovers, and more video content is released as macroeconomics improve, we expect Baidu and iQiyi's ad revenue to recover from a low base in the near term.",
    "output": "[Cause] macroeconomics improve [Relation] cause [Effect] more video content is released",
    "gold": "[Cause]  more video content is released [Relation] cause [Effect] macroeconomics improve",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As the movement of landing pages is completed, the economy recovers, and more video content is released as macroeconomics improve, we expect Baidu and iQiyi's ad revenue to recover from a low base in the near term.",
    "output": "[Cause] macroeconomics improve [Relation] cause [Effect] more video content is released",
    "gold": "[Cause] As the movement of landing pages is completed, the economy recovers, and more video content is released as macroeconomics improve [Relation] cause [Effect]  we expect Baidu and iQiyi's ad revenue to recover from a low base in the near term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our pretax cost of debt assumption is 6.5%, taking into account the spread creditors are likely to demand given Nissan's credit quality.",
    "output": "[Cause] taking into account the spread creditors are likely to demand given Nissan's credit quality [Relation] cause [Effect] Our pretax cost of debt assumption is 6.5%",
    "gold": "[Cause] taking into account the spread creditors are likely to demand given Nissan's credit quality [Relation] cause [Effect] Our pretax cost of debt assumption is 6.5%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect revenue growth to be largely a function of an expanding PLM market and the company's growing market for trial cycle management and drug R&D tools.",
    "output": "[Cause] an expanding PLM market and the company's growing market for trial cycle management and drug R&D tools [Relation] cause [Effect] revenue growth",
    "gold": "[Cause] an expanding PLM market and the company's growing market for trial cycle management and drug R&D tools [Relation] enable [Effect]  revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We estimate 2020 proforma revenue of $12.6 billion, down 13% from pro forma 2019 revenue of $14.5 billion, due to the outbreak of COVID-19.",
    "output": "[Cause] the outbreak of COVID-19 [Relation] cause [Effect] 2020 proforma revenue of $12.6 billion, down 13% from pro forma 2019 revenue of $14.5 billion",
    "gold": "[Cause]  the outbreak of COVID-19 [Relation] cause [Effect] 2020 proforma revenue of $12.6 billion, down 13% from pro forma 2019 revenue of $14.5 billion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A decrease in outsourcing or R&D spending is unlikely in the near term, in our view, but all CROs could be affected by these risks if biopharma funding is constrained, if there are changes in the drug-approval regulatory landscape, or if the biopharma industry faces other macroeconomic headwinds.",
    "output": "[Cause] biopharma funding is constrained, if there are changes in the drug-approval regulatory landscape, or if the biopharma industry faces other macroeconomic headwinds [Relation] cause [Effect] all CROs could be affected by these risks",
    "gold": "[Cause] A decrease in outsourcing or R&D spending is unlikely in the near term, in our view, but all CROs could be affected by these risks if biopharma funding is constrained, if there are changes in the drug-approval regulatory landscape, or if the biopharma industry [Relation] cause [Effect]  faces other macroeconomic headwinds",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast that Macy's will report negative ROIC in 2021 as a result of the pandemic, and we do not expect it will generate economic profit in the next decade.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] Macy's will report negative ROIC in 2021",
    "gold": "[Cause]  the pandemic [Relation] cause [Effect] Macy's will report negative ROIC in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast that Macy's will report negative ROIC in 2021 as a result of the pandemic, and we do not expect it will generate economic profit in the next decade.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] Macy's will report negative ROIC in 2021",
    "gold": "[Cause]  the pandemic [Relation] cause [Effect]  not expect it will generate economic profit in the next decade",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "CP relies on one customer, Teck, for about 10% of revenue, leading to greater single-client exposure than at other railroads.",
    "output": "[Cause] CP relies on one customer, Teck, for about 10% of revenue [Relation] cause [Effect] greater single-client exposure than at other railroads",
    "gold": "[Cause] CP relies on one customer, Teck, for about 10% of revenue [Relation] cause [Effect] greater single-client exposure than at other railroads",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the partnership has mitigated much of this risk through establishing joint ventures with other experienced operators and mitigated commodity cycle volatility through predominantly contracted offtake, there is operational risk and longer-term cyclical risk from these businesses.",
    "output": "[Cause] establishing joint ventures with other experienced operators and mitigated commodity cycle volatility through predominantly contracted offtake [Relation] enable [Effect] mitigated much of this risk",
    "gold": "[Cause]  the partnership has mitigated much of this risk through establishing joint ventures with other experienced operators and mitigated commodity cycle volatility through predominantly contracted offtake [Relation] enable [Effect] operational risk and longer-term cyclical risk from these businesses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Still, we do expect Bausch to capitalize on the drug's strong market position by increasing price in the range of 100-200 basis points per year.",
    "output": "[Cause] increasing price in the range of 100-200 basis points per year [Relation] enable [Effect] Bausch to capitalize on the drug's strong market position",
    "gold": "[Cause] Bausch to capitalize on the drug's strong market position [Relation] enable [Effect]  increasing price in the range of 100-200 basis points per year",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Even more valuable, in our view, is that Snowflake's platform is interoperable on numerous public clouds. This allows Snowflake workloads to be performant for its customers without significant effort to convert data lake and warehouse architectures to work on different public clouds.",
    "output": "[Cause] Even more valuable, in our view, is that Snowflake's platform is interoperable on numerous public clouds [Relation] enable [Effect] Snowflake workloads to be performant for its customers without significant effort to convert data lake and warehouse architectures to work on different public clouds",
    "gold": "[Cause] Even more valuable, in our view, is that Snowflake's platform is interoperable on numerous public clouds [Relation] enable [Effect] Snowflake workloads to be performant for its customers without significant effort to convert data lake and warehouse architectures to work on different public clouds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think PGE can grow the dividend 6% annually, in line with peers, given the growing economy in its service territory, investment opportunities, and cash flow to support up to a 70% payout ratio.",
    "output": "[Cause] the growing economy in its service territory, investment opportunities, and cash flow to support up to a 70% payout ratio [Relation] enable [Effect] PGE can grow the dividend 6% annually, in line with peers",
    "gold": "[Cause] the growing economy in its service territory, investment opportunities, and cash flow to support up to a 70% payout ratio [Relation] enable [Effect] PGE can grow the dividend 6% annually, in line with peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Second, once NICE's software is integrated, switching over to a new platform would give rise to business disruption and operational risk, potentially leading to day-to-day inefficiencies and loss of customers.",
    "output": "[Cause] business disruption and operational risk [Relation] cause [Effect] day-to-day inefficiencies and loss of customers",
    "gold": "[Cause] business disruption and operational risk [Relation] cause [Effect] day-to-day inefficiencies and loss of customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, a material adverse change in the competitive landscape could leave TJX with too many stores and an expensive distribution infrastructure.",
    "output": "[Cause] a material adverse change in the competitive landscape [Relation] cause [Effect] leave TJX with too many stores and an expensive distribution infrastructure",
    "gold": "[Cause] a material adverse change in the competitive landscape [Relation] cause [Effect] leave TJX with too many stores and an expensive distribution infrastructure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Returns on invested capital have averaged about 20% over the past five years and are magnitudes higher if goodwill is excluded.",
    "output": "[Cause] goodwill is excluded [Relation] cause [Effect] magnitudes higher",
    "gold": "[Cause] goodwill is excluded [Relation] cause [Effect] magnitudes higher",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For one, Walmart is its biggest customer (24% of 2019 revenue), and we do not think Church & Dwight is a significant enough supplier to have meaningful leverage when negotiating shelf space.",
    "output": "[Cause] Walmart is its biggest customer (24% of 2019 revenue) [Relation] cause [Effect] we do not think Church & Dwight is a significant enough supplier to have meaningful leverage when negotiating shelf space",
    "gold": "[Cause]  we do not think Church & Dwight is a significant enough supplier [Relation] prevent [Effect]  have meaningful leverage when negotiating shelf space",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Experian has a dominant position in Brazil, and we think the growth of middle-class populations in emerging markets and favorable regulatory changes will drive long-term growth.",
    "output": "[Cause] the growth of middle-class populations in emerging markets and favorable regulatory changes [Relation] enable [Effect] long-term growth",
    "gold": "[Cause] the growth of middle-class populations in emerging markets and favorable regulatory changes [Relation] cause [Effect] long-term growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Switching costs for Littelfuse's products are heightened when one considers the mission-critical nature of the systems they sell into--be it a vehicle drivetrain, an uninterrupted power supply for a hyperscale data center, or power transfer within a large power plant.",
    "output": "[Cause] the mission-critical nature of the systems they sell into--be it a vehicle drivetrain, an uninterrupted power supply for a hyperscale data center, or power transfer within a large power plant [Relation] cause [Effect] Switching costs for Littelfuse's products are heightened",
    "gold": "[Cause]  the mission-critical nature of the systems they sell into--be it a vehicle drivetrain, an uninterrupted power supply for a hyperscale data center, or power transfer within a large power plant [Relation] cause [Effect] Switching costs for Littelfuse's products are heightened",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And we think discounting was a key culprit in adjusted operating margins tumbling to just 3% in 2020 at the segment, evidencing the lack of a competitive edge.",
    "output": "[Cause] discounting [Relation] cause [Effect] adjusted operating margins tumbling to just 3% in 2020 at the segment",
    "gold": "[Cause] discounting [Relation] cause [Effect] adjusted operating margins tumbling to just 3% in 2020 at the segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a peak audience of over 20 million total viewers, the show provided advertisers the ability to target a mass audience that is usually only generated by the top broadcast networks shows or the NFL on Sunday night.",
    "output": "[Cause] a peak audience of over 20 million total viewers [Relation] enable [Effect] the show provided advertisers the ability to target a mass audience",
    "gold": "[Cause] the show [Relation] enable [Effect] provided advertisers the ability to target a mass audience",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Polaris has historically generated returns on invested capital well above our weighted average cost of capital assumption (8.4%) and should be able to restore adjusted ROICs including goodwill to 30% if it can avoid manufacturing missteps.",
    "output": "[Cause] it can avoid manufacturing missteps [Relation] enable [Effect] restore adjusted ROICs including goodwill to 30%",
    "gold": "[Cause] it can avoid manufacturing missteps [Relation] enable [Effect] restore adjusted ROICs including goodwill to 30%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe clients should remain with Wiley long term due to the time and monetary investment needed at the start of a new partnership and the degree to which the solutions become embedded in the institution's processes.",
    "output": "[Cause] the time and monetary investment needed at the start of a new partnership and the degree to which the solutions become embedded in the institution's processes [Relation] cause [Effect] clients should remain with Wiley long term",
    "gold": "[Cause] the time and monetary investment needed at the start of a new partnership and the degree to which the solutions become embedded in the institution's processes [Relation] cause [Effect] clients should remain with Wiley long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As 50% of Pilgrim's sales stem from food service, the pandemic impaired sales and margins in 2020; organic sales were down 2.4%, and adjusted operating margins were down 240 basis points to 3.7%.",
    "output": "[Cause] 50% of Pilgrim's sales stem from food service [Relation] cause [Effect] the pandemic impaired sales and margins in 2020; organic sales were down 2.4%, and adjusted operating margins were down 240 basis points to 3.7%",
    "gold": "[Cause] 50% of Pilgrim's sales stem from food service [Relation] cause [Effect] the pandemic impaired sales and margins in 2020; organic sales were down 2.4%, and adjusted operating margins were down 240 basis points to 3.7%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect stronger margins in the Gulf Coast region in the later years of our forecast, as we anticipate that the region will see improved crude discounts with greater supply of domestic and Canadian crude.",
    "output": "[Cause] greater supply of domestic and Canadian crude [Relation] cause [Effect] the region will see improved crude discounts",
    "gold": "[Cause] the region will see improved crude discounts with greater supply of domestic and Canadian crude [Relation] cause [Effect] stronger margins in the Gulf Coast region in the later years of our forecast",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect stronger margins in the Gulf Coast region in the later years of our forecast, as we anticipate that the region will see improved crude discounts with greater supply of domestic and Canadian crude.",
    "output": "[Cause] greater supply of domestic and Canadian crude [Relation] cause [Effect] the region will see improved crude discounts",
    "gold": "[Cause] greater supply of domestic and Canadian crude [Relation] cause [Effect] the region will see improved crude discounts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Along those lines, a lack of visibility surrounding the magnitude of industrial end market recovery brings elevated uncertainty to our volume and pricing assumptions for 2021 and 2022.",
    "output": "[Cause] a lack of visibility surrounding the magnitude of industrial end market recovery [Relation] cause [Effect] elevated uncertainty to our volume and pricing assumptions for 2021 and 2022",
    "gold": "[Cause] a lack of visibility surrounding the magnitude of industrial end market recovery [Relation] cause [Effect] elevated uncertainty to our volume and pricing assumptions for 2021 and 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its relatively favorable mining unit costs stem, in part, from its largest mines, where it owns the ports and rails on which it transports the iron ore it produces.",
    "output": "[Cause] its largest mines, where it owns the ports and rails on which it transports the iron ore it produces [Relation] cause [Effect] Its relatively favorable mining unit costs stem",
    "gold": "[Cause]  its largest mines, where it owns the ports and rails on which it transports the iron ore it produces [Relation] cause [Effect] Its relatively favorable mining unit costs stem",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Building a team from the customer base, and rewarding employees based on success helps develop the right leader to take the business forward.",
    "output": "[Cause] Building a team from the customer base, and rewarding employees based on success [Relation] enable [Effect] develop the right leader to take the business forward",
    "gold": "[Cause] Building a team from the customer base, and rewarding employees based on success [Relation] enable [Effect] develop the right leader to take the business forward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Comparing the company's gross margin to those of competitors is not as instructive given that the figures are not entirely comparable.",
    "output": "[Cause] the figures are not entirely comparable [Relation] cause [Effect] Comparing the company's gross margin to those of competitors is not as instructive",
    "gold": "[Cause] the figures are not entirely comparable [Relation] cause [Effect] Comparing the company's gross margin to those of competitors is not as instructive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management has repeatedly said it is willing to give up gross margin to get incremental volume so this gross margin risk may be mitigated by SG&A leverage.",
    "output": "[Cause] Management has repeatedly said it is willing to give up gross margin to get incremental volume [Relation] cause [Effect] this gross margin risk may be mitigated by SG&A leverage",
    "gold": "[Cause] Management has repeatedly said it is willing to give up gross margin to get incremental volume [Relation] cause [Effect]  this gross margin risk may be mitigated by SG&A leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The COVID-19 crisis has shocked the aviation industry, and we expect a severe near-term decline in global revenue passenger kilometers.",
    "output": "[Cause] The COVID-19 crisis [Relation] cause [Effect] a severe near-term decline in global revenue passenger kilometers",
    "gold": "[Cause] The COVID-19 crisis [Relation] cause [Effect] a severe near-term decline in global revenue passenger kilometers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "CMS carries an unusually large amount of parent debt, which has helped boost consolidated returns on equity, but investors should consider the refinancing risk if credit markets tighten.",
    "output": "[Cause] CMS carries an unusually large amount of parent debt [Relation] enable [Effect] boost consolidated returns on equity",
    "gold": "[Cause] CMS carries an unusually large amount of parent debt [Relation] cause [Effect] boost consolidated returns on equity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the global economy recovers, we expect Fortune Brands' operating margin to continue to improve, and we expect the company will near a 16% operating margin over the next few years.",
    "output": "[Cause] the global economy recovers [Relation] cause [Effect] Fortune Brands' operating margin to continue to improve",
    "gold": "[Cause] the global economy recovers [Relation] enable [Effect]  Fortune Brands' operating margin to continue to improve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the global economy recovers, we expect Fortune Brands' operating margin to continue to improve, and we expect the company will near a 16% operating margin over the next few years.",
    "output": "[Cause] the global economy recovers [Relation] cause [Effect] Fortune Brands' operating margin to continue to improve",
    "gold": "[Cause] the global economy recovers [Relation] enable [Effect] the company will near a 16% operating margin over the next few years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This level of investment is in line with peers including Bayer (Monsanto historically averaged around 10%), Syngenta (9%), and FMC (7%), which gives us confidence that Corteva is investing enough to continue to successfully develop new products.",
    "output": "[Cause] This level of investment is in line with peers including Bayer (Monsanto historically averaged around 10%), Syngenta (9%), and FMC (7%) [Relation] enable [Effect] gives us confidence that Corteva is investing enough to continue to successfully develop new products",
    "gold": "[Cause] This level of investment is in line with peers including Bayer (Monsanto historically averaged around 10%), Syngenta (9%), and FMC (7%) [Relation] enable [Effect] gives us confidence that Corteva is investing enough to continue to successfully develop new products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Conversely, retailers will want to keep their stores located in the top malls, as they have strong demographic trends and high foot traffic and generate high sales.",
    "output": "[Cause] they have strong demographic trends and high foot traffic and generate high sales [Relation] cause [Effect] retailers will want to keep their stores located in the top malls",
    "gold": "[Cause] they have strong demographic trends and high foot traffic and generate high sales [Relation] cause [Effect] retailers will want to keep their stores located in the top malls",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We've also incorporated uncertainty related to the firm's high debt load, in particular with the large maturities in 2023 and 2025, and this contributes to our very high uncertainty rating.",
    "output": "[Cause] uncertainty related to the firm's high debt load, in particular with the large maturities in 2023 and 2025 [Relation] cause [Effect] our very high uncertainty rating",
    "gold": "[Cause]  incorporated uncertainty related to the firm's high debt load [Relation] cause [Effect] our very high uncertainty rating",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A large portion of Hess' Bakken acreage is ideally located in the core of the play, supporting another decade of impressive well results.",
    "output": "[Cause] A large portion of Hess' Bakken acreage is ideally located in the core of the play [Relation] enable [Effect] supporting another decade of impressive well results",
    "gold": "[Cause] A large portion of Hess' Bakken acreage is ideally located in the core of the play [Relation] cause [Effect] supporting another decade of impressive well results",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that there are limited barriers to entry for senior housing, so it is too susceptible to supply growth that restricts excess economic returns.",
    "output": "[Cause] there are limited barriers to entry for senior housing [Relation] cause [Effect] it is too susceptible to supply growth that restricts excess economic returns",
    "gold": "[Cause] there are limited barriers to entry for senior housing [Relation] cause [Effect] it is too susceptible to supply growth that restricts excess economic returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "SBA's contractual, steady cash flow should allow it to cover its obligations without concern, but it is much more susceptible than peers to major market disruptions and tightening of credit markets.",
    "output": "[Cause] SBA's contractual, steady cash flow [Relation] enable [Effect] cover its obligations without concern",
    "gold": "[Cause] SBA's contractual, steady cash flow [Relation] enable [Effect] cover its obligations without concern",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While over-the-top offerings such as Netflix and Amazon Prime create their own content, both services and the raft of new competitors require deep libraries to gain and retain subscribers.",
    "output": "[Cause] over-the-top offerings such as Netflix and Amazon Prime create their own content [Relation] cause [Effect] both services and the raft of new competitors require deep libraries",
    "gold": "[Cause] both services and the raft of new competitors require deep libraries [Relation] enable [Effect] gain and retain subscribers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While over-the-top offerings such as Netflix and Amazon Prime create their own content, both services and the raft of new competitors require deep libraries to gain and retain subscribers.",
    "output": "[Cause] both services and the raft of new competitors require deep libraries [Relation] enable [Effect] gain and retain subscribers",
    "gold": "[Cause] Netflix and Amazon Prime create their own content [Relation] cause [Effect] both services and the raft of new competitors require deep libraries",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As the firm already has moderate international brick-and-mortar exposure at this point, we assume that new location growth overseas will be taken on methodically.",
    "output": "[Cause] the firm already has moderate international brick-and-mortar exposure at this point [Relation] cause [Effect] new location growth overseas will be taken on methodically",
    "gold": "[Cause] the firm already has moderate international brick-and-mortar exposure at this point [Relation] cause [Effect] new location growth overseas will be taken on methodically",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Beyond becoming stickier with its existing installation base by supplying solutions for the campus market, moving away from a concentrated customer base with buying power may expand Arista's already healthy gross margins.",
    "output": "[Cause] moving away from a concentrated customer base with buying power [Relation] enable [Effect] expand Arista's already healthy gross margins",
    "gold": "[Cause] moving away from a concentrated customer base with buying power [Relation] cause [Effect] expand Arista's already healthy gross margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It then acquired Sunrise in Switzerland, gaining a much larger wireless presence and extending its fixed-line operations in the country.",
    "output": "[Cause] acquired Sunrise in Switzerland [Relation] enable [Effect] gaining a much larger wireless presence and extending its fixed-line operations in the country",
    "gold": "[Cause] acquired Sunrise in Switzerland [Relation] enable [Effect] gaining a much larger wireless presence and extending its fixed-line operations in the country",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "When the merger with MetroPCS closed in 2013, the firm's network lagged Verizon's and AT&amp;T's and its reputation with consumers was weak, leading to rapid customer losses.",
    "output": "[Cause] the merger with MetroPCS closed in 2013, the firm's network lagged Verizon's and AT&amp;T's and its reputation with consumers was weak [Relation] cause [Effect] rapid customer losses",
    "gold": "[Cause]  the merger with MetroPCS closed in 2013, the firm's network lagged Verizon's and AT&amp;T's and its reputation with consumers was weak [Relation] cause [Effect] rapid customer losses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, lower-skilled manufacturing jobs constrain operating margin growth because recruiters face low barriers to entry in placing candidates in manufacturing jobs.",
    "output": "[Cause] recruiters face low barriers to entry in placing candidates in manufacturing jobs [Relation] cause [Effect] lower-skilled manufacturing jobs constrain operating margin growth",
    "gold": "[Cause]  recruiters face low barriers to entry in placing candidates in manufacturing jobs [Relation] cause [Effect] lower-skilled manufacturing jobs constrain operating margin growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The vast majority of the high-performance metal segment's sales are derived from aerospace and defense customers, and we expect this to increase as next-generation commercial aircraft production ramps up over the coming decade.",
    "output": "[Cause] next-generation commercial aircraft production ramps up over the coming decade [Relation] cause [Effect] this to increase",
    "gold": "[Cause] The vast majority of the high-performance metal segment's sales are derived from aerospace and defense customers [Relation] cause [Effect] we expect this to increase as next-generation commercial aircraft production ramps up over the coming decade",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the company's balance sheet is not as leveraged as some of the larger insurers, we still think an investment in Ameriprise carries a high level of uncertainty, given how sensitive its business is to the capital markets.",
    "output": "[Cause] how sensitive its business is to the capital markets [Relation] cause [Effect] an investment in Ameriprise carries a high level of uncertainty",
    "gold": "[Cause] how sensitive its business is to the capital markets [Relation] cause [Effect] an investment in Ameriprise carries a high level of uncertainty",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Teladoc provides healthcare access to more than 54 million members, and blended utilization has an upward bias from current levels, below 10%, with increasing engagement of new members and continual addition of new services.",
    "output": "[Cause] Teladoc provides healthcare access to more than 54 million members, and blended utilization has an upward bias from current levels, below 10%, with increasing engagement of new members and continual addition of new services [Relation] cause [Effect] increasing engagement of new members and continual addition of new services",
    "gold": "[Cause] Teladoc [Relation] enable [Effect] healthcare access to more than 54 million members",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the long term, we expect Boston Properties' portfolio to perform well, given the high quality of its office buildings, which are often located in the most attractive submarkets in America's so-called superstar cities.",
    "output": "[Cause] the high quality of its office buildings, which are often located in the most attractive submarkets in America's so-called superstar cities [Relation] cause [Effect] Boston Properties' portfolio to perform well",
    "gold": "[Cause] the high quality of its office buildings, which are often located in the most attractive submarkets in America's so-called superstar cities [Relation] cause [Effect]  Boston Properties' portfolio to perform well",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Peers without this robust level of marketing operations will face higher hurdles in terms of being able to obtain commitments for large investments.",
    "output": "[Cause] Peers without this robust level of marketing operations [Relation] cause [Effect] face higher hurdles in terms of being able to obtain commitments for large investments",
    "gold": "[Cause] Peers without this robust level of marketing operations [Relation] cause [Effect]  face higher hurdles in terms of being able to obtain commitments for large investments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Regulatory changes prompted AT&amp;T to acquire two subscale, struggling Mexican carriers in 2015 and commit $3 billion to integrate and improve the firms' networks.",
    "output": "[Cause] Regulatory changes [Relation] cause [Effect] AT&amp;T to acquire two subscale, struggling Mexican carriers in 2015",
    "gold": "[Cause] Regulatory changes [Relation] cause [Effect] AT&amp;T to acquire two subscale, struggling Mexican carriers in 2015",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Regulatory changes prompted AT&amp;T to acquire two subscale, struggling Mexican carriers in 2015 and commit $3 billion to integrate and improve the firms' networks.",
    "output": "[Cause] Regulatory changes [Relation] cause [Effect] AT&amp;T to acquire two subscale, struggling Mexican carriers in 2015 and commit $3 billion to integrate and improve the firms' networks",
    "gold": "[Cause]  $3 billion [Relation] enable [Effect] integrate and improve the firms' networks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company will likely seeing some cost deleveraging due to pressure on the top line, and lower yields in client funds will be an additional issue, as this revenue falls almost completely to the bottom line.",
    "output": "[Cause] pressure on the top line [Relation] cause [Effect] The company will likely seeing some cost deleveraging",
    "gold": "[Cause]  pressure on the top line [Relation] cause [Effect] The company will likely seeing some cost deleveraging",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "M&T's credit cost advantage is based on the company's well-established focus on risk-adjusted yield, which was set in place by the late longtime CEO Robert Wilmers.",
    "output": "[Cause] the company's well-established focus on risk-adjusted yield [Relation] enable [Effect] M&T's credit cost advantage",
    "gold": "[Cause] the company's well-established focus on risk-adjusted yield [Relation] enable [Effect] M&T's credit cost advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the plan makes sense because it essentially recognizes Imperial's place in the marketplace--it is a fast follower, rather than a leader, in most markets, but a highly profitable one with strong cash flow generation potential that should drive returns to shareholders higher in the coming years.",
    "output": "[Cause] it essentially recognizes Imperial's place in the marketplace [Relation] cause [Effect] the plan makes sense",
    "gold": "[Cause] it essentially recognizes Imperial's place in the marketplace [Relation] cause [Effect] the plan makes sense",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the plan makes sense because it essentially recognizes Imperial's place in the marketplace--it is a fast follower, rather than a leader, in most markets, but a highly profitable one with strong cash flow generation potential that should drive returns to shareholders higher in the coming years.",
    "output": "[Cause] it essentially recognizes Imperial's place in the marketplace [Relation] cause [Effect] the plan makes sense",
    "gold": "[Cause] a highly profitable one with strong cash flow generation potential [Relation] cause [Effect] drive returns to shareholders higher in the coming years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the \"\"\"\"Medicare for All\"\"\"\" threat appears close to 0% in this election cycle, uncertainty may surround healthcare providers in the long run due to ongoing policy risk.",
    "output": "[Cause] ongoing policy risk [Relation] cause [Effect] uncertainty may surround healthcare providers in the long run",
    "gold": "[Cause] ongoing policy risk [Relation] cause [Effect] uncertainty may surround healthcare providers in the long run",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The spread of the COVID-19 represents a material headwind to travel demand in 2020 and into 2021, and we estimate Booking's 2020 revenue to decline 54%.",
    "output": "[Cause] The spread of the COVID-19 represents a material headwind to travel demand in 2020 and into 2021 [Relation] cause [Effect] Booking's 2020 revenue to decline 54%",
    "gold": "[Cause] The spread of the COVID-19 represents a material headwind to travel demand in 2020 and into 2021 [Relation] cause [Effect] Booking's 2020 revenue to decline 54%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Beyond simple volumetric growth, we also are optimistic about Plains' opportunity to segregate volumes based on crude oil gravity and obtain additional fees, as increasingly Permian volumes are at the light end of the spectrum in the 45- to 55-degree gravity range.",
    "output": "[Cause] increasingly Permian volumes are at the light end of the spectrum in the 45- to 55-degree gravity range [Relation] cause [Effect] optimistic about Plains' opportunity to segregate volumes based on crude oil gravity and obtain additional fees",
    "gold": "[Cause] increasingly Permian volumes are at the light end of the spectrum in the 45- to 55-degree gravity range [Relation] cause [Effect] optimistic about Plains' opportunity to segregate volumes based on crude oil gravity and obtain additional fees",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nutrish should stabilize due to new innovations, an increase in marketing, improved execution given the formation of a dedicated pet salesforce, enhanced packaging, and an improved value equation (the price premium to competitors became too wide).",
    "output": "[Cause] new innovations, an increase in marketing, improved execution given the formation of a dedicated pet salesforce, enhanced packaging, and an improved value equation [Relation] cause [Effect] Nutrish should stabilize",
    "gold": "[Cause] new innovations, an increase in marketing, improved execution given the formation of a dedicated pet salesforce, enhanced packaging, and an improved value equation [Relation] enable [Effect] Nutrish should stabilize",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To be sure, the fallout from currently low prices is also industry underinvestment that could ultimately result in a global shortage and much higher prices than our $60/bbl assumption.",
    "output": "[Cause] industry underinvestment [Relation] cause [Effect] a global shortage and much higher prices than our $60/bbl assumption",
    "gold": "[Cause] industry underinvestment [Relation] cause [Effect]  a global shortage and much higher prices than our $60/bbl assumption",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These firms have better brand recognition, stronger enterprise relationships, and more resources, which can deliver them an edge in this arena.",
    "output": "[Cause] These firms have better brand recognition, stronger enterprise relationships, and more resources [Relation] enable [Effect] deliver them an edge in this arena",
    "gold": "[Cause] These firms have better brand recognition, stronger enterprise relationships, and more resources [Relation] enable [Effect] deliver them an edge in this arena",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Persistent speculation that regulation would require Telus to wholesale wireless network capacity could lead to a temporary pullback in wireless financial metrics but would unlikely be a major long-term burden.",
    "output": "[Cause] Telus to wholesale wireless network capacity [Relation] cause [Effect] a temporary pullback in wireless financial metrics",
    "gold": "[Cause] Telus to wholesale wireless network capacity [Relation] cause [Effect] a temporary pullback in wireless financial metrics",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That is, would-be rational competitors have little incentive to enter because massive up-front infrastructure costs and the potential for creating excess capacity amid limited demand would preclude economic profit and destroy value.",
    "output": "[Cause] massive up-front infrastructure costs and the potential for creating excess capacity amid limited demand [Relation] cause [Effect] would-be rational competitors have little incentive to enter",
    "gold": "[Cause] massive up-front infrastructure costs and the potential for creating excess capacity amid limited demand [Relation] prevent [Effect] economic profit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That is, would-be rational competitors have little incentive to enter because massive up-front infrastructure costs and the potential for creating excess capacity amid limited demand would preclude economic profit and destroy value.",
    "output": "[Cause] massive up-front infrastructure costs and the potential for creating excess capacity amid limited demand [Relation] cause [Effect] would-be rational competitors have little incentive to enter",
    "gold": "[Cause] massive up-front infrastructure costs and the potential for creating excess capacity amid limited demand [Relation] prevent [Effect] value",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we think clinical diagnostics offers more reliable longer-term normalized growth, we expect life sciences to have higher compound growth because of near-term tailwinds related to COVID-19 diagnostic testing, and diagnostic segment declines from hospitals pivoting to COVID-19 at the expense of routine diagnostics.",
    "output": "[Cause] near-term tailwinds related to COVID-19 diagnostic testing, and diagnostic segment declines from hospitals pivoting to COVID-19 at the expense of routine diagnostics [Relation] cause [Effect] life sciences to have higher compound growth",
    "gold": "[Cause]  near-term tailwinds related to COVID-19 diagnostic testing, and diagnostic segment declines from hospitals pivoting to COVID-19 at the expense of routine diagnostics [Relation] cause [Effect]  life sciences to have higher compound growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given its massive scale and industry-leading cost efficiency, we believe the company can sustain severe competitive pressures, such as trading revenue dropping to $0, and still earn above its cost of capital.",
    "output": "[Cause] its massive scale and industry-leading cost efficiency [Relation] cause [Effect] the company can sustain severe competitive pressures",
    "gold": "[Cause]  its massive scale and industry-leading cost efficiency [Relation] enable [Effect]  the company can sustain severe competitive pressures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, like all e-commerce companies, it must protect against data breaches that could put its users' personal information at risk.",
    "output": "[Cause] it must protect against data breaches [Relation] cause [Effect] put its users' personal information at risk",
    "gold": "[Cause] put its users' personal information at risk [Relation] cause [Effect] it must protect against data breaches",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The proliferation of online reviews could help technicians close any knowledge gap as they're 7 Jul 2021 05:00, UTCcomparing which products to buy online.",
    "output": "[Cause] they're 7 Jul 2021 05:00, UTCcomparing which products to buy online [Relation] cause [Effect] The proliferation of online reviews could help technicians close any knowledge gap",
    "gold": "[Cause] they're 7 Jul 2021 05:00, UTCcomparing which products to buy online [Relation] cause [Effect] The proliferation of online reviews could help technicians close any knowledge gap",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, many plant engineers are well-versed in the theory of vibration monitoring (which can be used to detect loose bearings, for example), but these techniques are not always applied correctly, leading to inconsistent measurements and misleading conclusions drawn from data.",
    "output": "[Cause] these techniques are not always applied correctly [Relation] cause [Effect] inconsistent measurements and misleading conclusions drawn from data",
    "gold": "[Cause] the theory of vibration monitoring | these techniques are not always applied correctly [Relation] cause [Effect] inconsistent measurements and misleading conclusions drawn from data",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Flash technology, specifically in the form of solid-state drives, or SSDs, have performance improvements over HDDs that have resulted in an ongoing shift toward SSDs for storage needs in PCs and servers.",
    "output": "[Cause] Flash technology, specifically in the form of solid-state drives, or SSDs, have performance improvements over HDDs [Relation] cause [Effect] an ongoing shift toward SSDs for storage needs in PCs and servers",
    "gold": "[Cause] Flash technology, specifically in the form of solid-state drives, or SSDs, have performance improvements over HDDs [Relation] cause [Effect] an ongoing shift toward SSDs for storage needs in PCs and servers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With most of its product liability exposure in the rearview mirror and more consistent cash flow generation thanks to its stronger product pipeline in recent years, we think medium uncertainty is appropriate for Boston.",
    "output": "[Cause] most of its product liability exposure in the rearview mirror and more consistent cash flow generation [Relation] cause [Effect] medium uncertainty is appropriate for Boston",
    "gold": "[Cause] its stronger product pipeline in recent years [Relation] cause [Effect] most of its product liability exposure in the rearview mirror and more consistent cash flow generation",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With most of its product liability exposure in the rearview mirror and more consistent cash flow generation thanks to its stronger product pipeline in recent years, we think medium uncertainty is appropriate for Boston.",
    "output": "[Cause] its stronger product pipeline in recent years [Relation] cause [Effect] more consistent cash flow generation",
    "gold": "[Cause] most of its product liability exposure in the rearview mirror and more consistent cash flow generation [Relation] cause [Effect] medium uncertainty is appropriate for Boston",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also expect coronavirus-related changes in consumer behavior will have a lasting impact on the industry and drive near-term operating volatility.",
    "output": "[Cause] coronavirus-related changes in consumer behavior [Relation] cause [Effect] a lasting impact on the industry and drive near-term operating volatility",
    "gold": "[Cause]  coronavirus-related changes in consumer behavior [Relation] cause [Effect] a lasting impact on the industry and drive near-term operating volatility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Though ConocoPhillips previously reduced capital spending in 2021 to $4.3 billion, the addition of Concho raised this by $1.2 billion, resulting in $5.5 billion of planned capital spending in 2021.",
    "output": "[Cause] the addition of Concho raised this by $1.2 billion [Relation] cause [Effect] $5.5 billion of planned capital spending in 2021",
    "gold": "[Cause]  the addition of Concho raised this by $1.2 billion [Relation] cause [Effect] $5.5 billion of planned capital spending in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of its merger with Level 3, Lumen also still has several billion dollars in deferred tax assets, which project to significantly reduce cash taxes through 2022.",
    "output": "[Cause] its merger with Level 3 [Relation] cause [Effect] Lumen also still has several billion dollars in deferred tax assets, which project to significantly reduce cash taxes through 2022",
    "gold": "[Cause] its merger with Level 3 [Relation] cause [Effect] Lumen also still has several billion dollars in deferred tax assets, which project to significantly reduce cash taxes through 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thus, quality and reliability are paramount, and customers seldom pursue cost savings by switching to cheaper alternatives, which leads to a loyal customer base.",
    "output": "[Cause] customers seldom pursue cost savings by switching to cheaper alternatives [Relation] cause [Effect] a loyal customer base",
    "gold": "[Cause] customers seldom pursue cost savings by switching to cheaper alternatives [Relation] cause [Effect] a loyal customer base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We view the price premium as sustainable, particularly in light of the lack of price sensitivity in these categories, owing to the low cost of these product categories relative to total construction costs.",
    "output": "[Cause] the low cost of these product categories relative to total construction costs [Relation] cause [Effect] We view the price premium as sustainable",
    "gold": "[Cause] the low cost of these product categories relative to total construction costs [Relation] cause [Effect] We view the price premium as sustainable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Tegsedi was approved in late 2018 as a once-weekly injection for polyneuropathy in hereditary ATTR amyloidosis, but with a black box warning on its prescribing label for thrombocytopenia and glomerulonephritis, and Alnylam's infused drug Onpattro—approved two months earlier—has a better safety profile and has seen better commercial success.",
    "output": "[Cause] Tegsedi was approved in late 2018 as a once-weekly injection for polyneuropathy in hereditary ATTR amyloidosis [Relation] cause [Effect] a black box warning on its prescribing label for thrombocytopenia and glomerulonephritis",
    "gold": "[Cause] Alnylam's infused drug Onpattro—approved two months earlier [Relation] enable [Effect]  a better safety profile and has seen better commercial success",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Tegsedi was approved in late 2018 as a once-weekly injection for polyneuropathy in hereditary ATTR amyloidosis, but with a black box warning on its prescribing label for thrombocytopenia and glomerulonephritis, and Alnylam's infused drug Onpattro—approved two months earlier—has a better safety profile and has seen better commercial success.",
    "output": "[Cause] a black box warning on its prescribing label for thrombocytopenia and glomerulonephritis [Relation] cause [Effect] Alnylam's infused drug Onpattro—approved two months earlier—has a better safety profile and has seen better commercial success",
    "gold": "[Cause] a once-weekly injection for polyneuropathy in hereditary ATTR amyloidosis, but with a black box warning on its prescribing label for thrombocytopenia and glomerulonephritis [Relation] cause [Effect] Tegsedi was approved in late 2018",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Based on a chip industry downturn that plagued many chipmakers in the second half of calendar 2018 and first half of calendar 2019, Maxim's revenue in fiscal 2019 fell by 7%.",
    "output": "[Cause] Based on a chip industry downturn that plagued many chipmakers in the second half of calendar 2018 and first half of calendar 2019 [Relation] cause [Effect] Maxim's revenue in fiscal 2019 fell by 7%",
    "gold": "[Cause] Based on a chip industry downturn that plagued many chipmakers in the second half of calendar 2018 and first half of calendar 2019 [Relation] cause [Effect] Maxim's revenue in fiscal 2019 fell by 7%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A slowdown in the real estate market, which could be indicated by increased home inventories for sale or slower growth in new- or used-home prices, could alter the wealth effect on consumers and cause them to spend less on housing-related goods.",
    "output": "[Cause] A slowdown in the real estate market [Relation] cause [Effect] alter the wealth effect on consumers",
    "gold": "[Cause] A slowdown in the real estate market [Relation] cause [Effect] alter the wealth effect on consumers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given high well decline rates, there's constant investment required by the G&amp;P provider to maintain and increase volumes, and if basin production peaks and declines, the G&amp;P assets risk being stranded.",
    "output": "[Cause] high well decline rates [Relation] cause [Effect] constant investment required by the G&amp;P provider to maintain and increase volumes",
    "gold": "[Cause]  high well decline rates [Relation] cause [Effect] constant investment required by the G&amp;P provider to maintain and increase volumes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given high well decline rates, there's constant investment required by the G&amp;P provider to maintain and increase volumes, and if basin production peaks and declines, the G&amp;P assets risk being stranded.",
    "output": "[Cause] basin production peaks and declines [Relation] cause [Effect] the G&amp;P assets risk being stranded",
    "gold": "[Cause]  basin production peaks and declines [Relation] enable [Effect] the G&amp;P assets risk being stranded",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Viper obtained a great deal on the initial large block from Diamondback, as initial well productivity in the Permian has improved several fold since 2014, more than offsetting the decline in oil prices.",
    "output": "[Cause] initial well productivity in the Permian has improved several fold since 2014 [Relation] cause [Effect] more than offsetting the decline in oil prices",
    "gold": "[Cause]  initial well productivity in the Permian has improved several fold since 2014, more than offsetting the decline in oil prices [Relation] enable [Effect]  Viper obtained a great deal on the initial large block from Diamondback",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Park Place also brings Asbury's Texas exposure to nearly 30% of revenue, so low oil prices could hurt Texas sales.",
    "output": "[Cause] Park Place also brings Asbury's Texas exposure to nearly 30% of revenue [Relation] cause [Effect] low oil prices could hurt Texas sales",
    "gold": "[Cause] Park Place also brings Asbury's Texas exposure to nearly 30% of revenue [Relation] cause [Effect]  low oil prices could hurt Texas sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast further improvement in 2022 as the firm implements its Closer to You plan, with 5.5% revenue growth, a 4.3% operating margin, and EPS of $2.04.",
    "output": "[Cause] the firm implements its Closer to You plan, with 5.5% revenue growth, a 4.3% operating margin, and EPS of $2.04 [Relation] cause [Effect] further improvement in 2022",
    "gold": "[Cause] the firm implements its Closer to You plan, with 5.5% revenue growth, a 4.3% operating margin, and EPS of $2.04 [Relation] enable [Effect]  further improvement in 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Offsetting these components of growth are a variety of factors, including continued revenue mix shift toward generic drugs (negative 1%-negative 2%), slower growth in the introduction of new drugs (negative 1%), and to less extent, generic deflation, and lower spending for hepatitis c and prescription opioids.",
    "output": "[Cause] continued revenue mix shift toward generic drugs (negative 1%-negative 2%), slower growth in the introduction of new drugs (negative 1%), and to less extent, generic deflation, and lower spending for hepatitis c and prescription opioids [Relation] cause [Effect] Offsetting these components of growth are a variety of factors",
    "gold": "[Cause]  continued revenue mix shift toward generic drugs (negative 1%-negative 2%), slower growth in the introduction of new drugs (negative 1%), and to less extent, generic deflation, and lower spending for hepatitis c and prescription opioids [Relation] enable [Effect] Offsetting these components of growth are a variety of factors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Still, we believe LaCroix's first-mover advantage has allowed its cachet to compound over many years, and solid margins should allow the firm to evolve the brand as preferences dictate.",
    "output": "[Cause] LaCroix's first-mover advantage [Relation] enable [Effect] its cachet to compound over many years",
    "gold": "[Cause] LaCroix's first-mover advantage [Relation] enable [Effect] its cachet to compound over many years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Still, we believe LaCroix's first-mover advantage has allowed its cachet to compound over many years, and solid margins should allow the firm to evolve the brand as preferences dictate.",
    "output": "[Cause] solid margins [Relation] enable [Effect] the firm to evolve the brand as preferences dictate",
    "gold": "[Cause] solid margins [Relation] enable [Effect] the firm to evolve the brand as preferences dictate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If regulators do not provide fair returns on capital and allow for timely recovery of prudently incurred expenses, shareholder returns will suffer.",
    "output": "[Cause] regulators do not provide fair returns on capital and allow for timely recovery of prudently incurred expenses [Relation] cause [Effect] shareholder returns will suffer",
    "gold": "[Cause]  regulators do not provide fair returns on capital and allow for timely recovery of prudently incurred expenses [Relation] cause [Effect] shareholder returns will suffer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Following increased growth in 2021 and 2022 as Syneos rebounds from the impact of the COVID-19 pandemic, we model mid-single-digit revenue growth and 2025 clinical solutions revenue of over $5.2 billion.",
    "output": "[Cause] Syneos rebounds from the impact of the COVID-19 pandemic [Relation] cause [Effect] Following increased growth in 2021 and 2022",
    "gold": "[Cause] Syneos rebounds from the impact of the COVID-19 pandemic [Relation] cause [Effect] Following increased growth in 2021 and 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we see this as having a moderate probability to occur, we see a low materiality as all lithium producers would be subject to the same requirements so the company could likely pass along these costs.",
    "output": "[Cause] all lithium producers would be subject to the same requirements [Relation] cause [Effect] the company could likely pass along these costs",
    "gold": "[Cause] all lithium producers would be subject to the same requirements [Relation] cause [Effect] we see a low materiality",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we see this as having a moderate probability to occur, we see a low materiality as all lithium producers would be subject to the same requirements so the company could likely pass along these costs.",
    "output": "[Cause] all lithium producers would be subject to the same requirements [Relation] cause [Effect] the company could likely pass along these costs",
    "gold": "[Cause] all lithium producers would be subject to the same requirements [Relation] cause [Effect] the company could likely pass along these costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also think Monolithic Power benefits from customer switching costs for its power chips, resulting from its high levels of integration and low relative cost.",
    "output": "[Cause] its high levels of integration and low relative cost [Relation] cause [Effect] Monolithic Power benefits from customer switching costs for its power chips",
    "gold": "[Cause] its high levels of integration and low relative cost [Relation] cause [Effect] Monolithic Power benefits from customer switching costs for its power chips",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the fair value of its fixed income assets can increase from low interest rates, sustained low interest rates ultimately hurt profitability as MetLife has to invest cash flows in lower yielding securities.",
    "output": "[Cause] MetLife has to invest cash flows in lower yielding securities [Relation] cause [Effect] sustained low interest rates ultimately hurt profitability",
    "gold": "[Cause]  MetLife has to invest cash flows in lower yielding securities [Relation] cause [Effect]  sustained low interest rates ultimately hurt profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Patented designs and high regulatory switching costs have allowed Aptar to earn excess return on invested capital, while revenue growth has been spurred by increased health spending and a consumer preference for convenience.",
    "output": "[Cause] Patented designs and high regulatory switching costs [Relation] enable [Effect] Aptar to earn excess return on invested capital",
    "gold": "[Cause] Patented designs and high regulatory switching costs [Relation] cause [Effect]  Aptar to earn excess return on invested capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Patented designs and high regulatory switching costs have allowed Aptar to earn excess return on invested capital, while revenue growth has been spurred by increased health spending and a consumer preference for convenience.",
    "output": "[Cause] increased health spending and a consumer preference for convenience [Relation] cause [Effect] revenue growth",
    "gold": "[Cause] increased health spending and a consumer preference for convenience [Relation] cause [Effect] revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The worst is not quite over yet for airlines, as the COVID-19 vaccine has not been fully distributed yet, but we see a leisure-led recovery for airlines and anticipate Southwest can return to 2019 levels of capacity in 2023.",
    "output": "[Cause] the COVID-19 vaccine has not been fully distributed yet [Relation] cause [Effect] The worst is not quite over yet for airlines",
    "gold": "[Cause] the COVID-19 vaccine has not been fully distributed yet [Relation] cause [Effect] The worst is not quite over yet for airlines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Travelers could also see some headwinds in personal lines going forward, as pandemic tailwinds in personal auto should start to dissipate, and pricing has recently declined.",
    "output": "[Cause] pandemic tailwinds in personal auto should start to dissipate, and pricing has recently declined [Relation] cause [Effect] Travelers could also see some headwinds in personal lines going forward",
    "gold": "[Cause] pandemic tailwinds in personal auto should start to dissipate, and pricing has recently declined [Relation] cause [Effect] Travelers could also see some headwinds in personal lines going forward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're moderately raising our fair value estimate by $4, to $70 per share, which reflects continued robust growth in COVID-19 molecular tests in fiscal 2021 and into fiscal 2022, along with the pandemic periodically putting pressure on the breast health, cytology, and gynecological surgery businesses.",
    "output": "[Cause] continued robust growth in COVID-19 molecular tests in fiscal 2021 and into fiscal 2022 [Relation] cause [Effect] moderately raising our fair value estimate by $4, to $70 per share",
    "gold": "[Cause] continued robust growth in COVID-19 molecular tests in fiscal 2021 and into fiscal 2022 [Relation] cause [Effect] moderately raising our fair value estimate by $4, to $70 per share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're moderately raising our fair value estimate by $4, to $70 per share, which reflects continued robust growth in COVID-19 molecular tests in fiscal 2021 and into fiscal 2022, along with the pandemic periodically putting pressure on the breast health, cytology, and gynecological surgery businesses.",
    "output": "[Cause] the pandemic periodically putting pressure on the breast health, cytology, and gynecological surgery businesses [Relation] cause [Effect] moderately raising our fair value estimate by $4, to $70 per share",
    "gold": "[Cause] moderately raising our fair value estimate by $4, to $70 per share [Relation] prevent [Effect] the pandemic periodically putting pressure on the breast health, cytology, and gynecological surgery businesses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Lower rates reduce the risk of customers pressuring regulators to lower APS' rates, which results in lower returns for shareholders.",
    "output": "[Cause] Lower rates reduce the risk of customers pressuring regulators to lower APS' rates [Relation] cause [Effect] lower returns for shareholders",
    "gold": "[Cause] Lower rates reduce the risk of customers pressuring regulators to lower APS' rates [Relation] cause [Effect]  lower returns for shareholders",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, because the G&amp;P assets generate lower returns and contribute the bulk of invested capital, returns are low for the consolidated entity.",
    "output": "[Cause] the G&amp;P assets generate lower returns and contribute the bulk of invested capital [Relation] cause [Effect] returns are low for the consolidated entity",
    "gold": "[Cause]  the G&amp;P assets generate lower returns and contribute the bulk of invested capital [Relation] cause [Effect] returns are low for the consolidated entity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a deep in-house pipeline and the ability to supplement growth with strategic acquisitions, BioMarin is in a strong position.",
    "output": "[Cause] a deep in-house pipeline and the ability to supplement growth with strategic acquisitions [Relation] enable [Effect] BioMarin is in a strong position",
    "gold": "[Cause] a deep in-house pipeline and the ability to supplement growth with strategic acquisitions [Relation] enable [Effect] BioMarin is in a strong position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The high cost of failure associated with these detectors is further self-evident: if governments fail to detect radioactive materials and prevent them from entering their borders, the health and psychological well-being of their respective populaces are at stake.",
    "output": "[Cause] governments fail to detect radioactive materials and prevent them from entering their borders [Relation] cause [Effect] The high cost of failure associated with these detectors is further self-evident",
    "gold": "[Cause] The high cost of failure associated with these detectors is further self-evident [Relation] cause [Effect]  governments fail to detect radioactive materials and prevent them from entering their borders, the health and psychological well-being of their respective populaces are at stake",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, we view Lowe's improving information technology platform and distribution network as competitive advantages and key differentiators in the retail sector.",
    "output": "[Cause] competitive advantages and key differentiators in the retail sector [Relation] cause [Effect] Lowe's improving information technology platform and distribution network",
    "gold": "[Cause] Lowe's improving information technology platform and distribution network [Relation] cause [Effect] competitive advantages and key differentiators in the retail sector",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Once installed, the instrumentation requires a recurring stream of consumables purchases or service revenue, thereby insulating Thermo Fisher from the full brunt of capital cycles and competitor pressure.",
    "output": "[Cause] Once installed, the instrumentation requires a recurring stream of consumables purchases or service revenue [Relation] enable [Effect] insulating Thermo Fisher from the full brunt of capital cycles and competitor pressure",
    "gold": "[Cause] Once installed, the instrumentation requires a recurring stream of consumables purchases or service revenue [Relation] enable [Effect] insulating Thermo Fisher from the full brunt of capital cycles and competitor pressure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through the combination, Marathon planned to leverage this geographically diverse footprint to optimize its crude supply from North America to reduce feedstock cost, while also improving its operating cost structure.",
    "output": "[Cause] leverage this geographically diverse footprint [Relation] enable [Effect] reduce feedstock cost, while also improving its operating cost structure",
    "gold": "[Cause] leverage this geographically diverse footprint [Relation] enable [Effect] reduce feedstock cost, while also improving its operating cost structure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast high probability of increased emissions regulations but think costs are likely to be passed onto customers, limiting the economic impact.",
    "output": "[Cause] costs are likely to be passed onto customers [Relation] prevent [Effect] the economic impact",
    "gold": "[Cause] increased emissions regulations [Relation] prevent [Effect] limiting the economic impact",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect demand to continue recovering in 2021, with revenue rising 9%-10% on solid intermodal growth (aided by robust retailer restocking in the first half), automotive volume recovery, and industrial end-market improvement.",
    "output": "[Cause] solid intermodal growth (aided by robust retailer restocking in the first half), automotive volume recovery, and industrial end-market improvement [Relation] enable [Effect] demand to continue recovering in 2021, with revenue rising 9%-10%",
    "gold": "[Cause]  solid intermodal growth (aided by robust retailer restocking in the first half), automotive volume recovery, and industrial end-market improvement [Relation] cause [Effect] demand to continue recovering in 2021, with revenue rising 9%-10%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Such a goodwill-damaging activity could be devastating to CBRE, especially if competing firms were able to entrench further with increased market share from lost clients or key employees in the aftermath.",
    "output": "[Cause] increased market share from lost clients or key employees in the aftermath [Relation] cause [Effect] competing firms were able to entrench further",
    "gold": "[Cause] increased market share from lost clients or key employees in the aftermath [Relation] cause [Effect] competing firms were able to entrench further",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Check Point has adjusted its selling model to be subscription-based, and we believe this could further ingrain Check Point with businesses that favor predictable operating expenditures.",
    "output": "[Cause] Check Point has adjusted its selling model to be subscription-based [Relation] enable [Effect] further ingrain Check Point with businesses that favor predictable operating expenditures",
    "gold": "[Cause] Check Point has adjusted its selling model to be subscription-based [Relation] enable [Effect] further ingrain Check Point with businesses that favor predictable operating expenditures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The bar is also rising among incumbent retailers, as digital sellers boost their presence and brick-and-mortar rivals respond to the challenge by improving efficiency.",
    "output": "[Cause] brick-and-mortar rivals respond to the challenge by improving efficiency [Relation] cause [Effect] The bar is also rising among incumbent retailers",
    "gold": "[Cause] brick-and-mortar rivals respond to the challenge [Relation] enable [Effect] by improving efficiency",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "At this time, we do not see a way for airlines to escape cyclicality, so our fair value uncertainty is very high until COVID headwinds lessen.",
    "output": "[Cause] we do not see a way for airlines to escape cyclicality [Relation] cause [Effect] our fair value uncertainty is very high until COVID headwinds lessen",
    "gold": "[Cause] we do not see a way for airlines to escape cyclicality [Relation] cause [Effect] our fair value uncertainty is very high until COVID headwinds lessen",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We view a potential product failure as a material but low-probability event, given the strict manufacturing and engineering requirements that the company's manufacturing processes have to adhere to.",
    "output": "[Cause] the strict manufacturing and engineering requirements that the company's manufacturing processes have to adhere to [Relation] cause [Effect] We view a potential product failure as a material but low-probability event",
    "gold": "[Cause]  the strict manufacturing and engineering requirements that the company's manufacturing processes have to adhere to [Relation] cause [Effect] We view a potential product failure as a material but low-probability event",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The magnitude of threats from new entrants is highly uncertain given the lack of technical and performance details revealed for their prototype vehicles.",
    "output": "[Cause] the lack of technical and performance details revealed for their prototype vehicles [Relation] cause [Effect] The magnitude of threats from new entrants is highly uncertain",
    "gold": "[Cause] the lack of technical and performance details revealed for their prototype vehicles [Relation] cause [Effect] The magnitude of threats from new entrants is highly uncertain",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that hotel demand turns over each night while hotel development takes 18 to 24 months, any further deterioration in demand will be exacerbated by a period of oversupply.",
    "output": "[Cause] hotel demand turns over each night while hotel development takes 18 to 24 months [Relation] cause [Effect] any further deterioration in demand will be exacerbated by a period of oversupply",
    "gold": "[Cause]  hotel demand turns over each night while hotel development takes 18 to 24 months [Relation] cause [Effect] any further deterioration in demand will be exacerbated by a period of oversupply",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that hotel demand turns over each night while hotel development takes 18 to 24 months, any further deterioration in demand will be exacerbated by a period of oversupply.",
    "output": "[Cause] a period of oversupply [Relation] cause [Effect] any further deterioration in demand will be exacerbated",
    "gold": "[Cause]  a period of oversupply [Relation] cause [Effect] any further deterioration in demand will be exacerbated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To improve the customer experience, Netflix analyzes data traffic, video performance, and buffering to better understand where data loss and slowdown occurs and route traffic accordingly.",
    "output": "[Cause] Netflix analyzes data traffic, video performance, and buffering [Relation] enable [Effect] improve the customer experience",
    "gold": "[Cause] Netflix analyzes data traffic, video performance, and buffering [Relation] enable [Effect] better understand where data loss and slowdown occurs and route traffic accordingly",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To improve the customer experience, Netflix analyzes data traffic, video performance, and buffering to better understand where data loss and slowdown occurs and route traffic accordingly.",
    "output": "[Cause] Netflix analyzes data traffic, video performance, and buffering [Relation] enable [Effect] better understand where data loss and slowdown occurs and route traffic accordingly",
    "gold": "[Cause] Netflix analyzes data traffic, video performance, and buffering [Relation] enable [Effect] improve the customer experience",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Agco experienced strong growth in its core European and North American markets during 2018, largely due to pent-up replacement demand after years of weaker sales.",
    "output": "[Cause] pent-up replacement demand after years of weaker sales [Relation] cause [Effect] Agco experienced strong growth in its core European and North American markets during 2018",
    "gold": "[Cause]  pent-up replacement demand after years of weaker sales [Relation] cause [Effect] Agco experienced strong growth in its core European and North American markets during 2018",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, the real competitive advantage lies in the size and breadth of each company's data repository, as most software, whether in the realm of automation, machine learning, or artificial intelligence, increases in utility as it processes more data and encounters more use cases.",
    "output": "[Cause] it processes more data and encounters more use cases [Relation] cause [Effect] most software, whether in the realm of automation, machine learning, or artificial intelligence, increases in utility",
    "gold": "[Cause] most software, whether in the realm of automation, machine learning, or artificial intelligence, increases in utility as it processes more data and encounters more use cases [Relation] cause [Effect] the real competitive advantage lies in the size and breadth of each company's data repository",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, the real competitive advantage lies in the size and breadth of each company's data repository, as most software, whether in the realm of automation, machine learning, or artificial intelligence, increases in utility as it processes more data and encounters more use cases.",
    "output": "[Cause] it processes more data and encounters more use cases [Relation] cause [Effect] increases in utility",
    "gold": "[Cause] it processes more data and encounters more use cases [Relation] enable [Effect]  increases in utility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We've increased our fair value estimate to $97 from $94 to reflect stronger end-market performance in medium- and heavy-duty truck markets.",
    "output": "[Cause] stronger end-market performance in medium- and heavy-duty truck markets [Relation] cause [Effect] We've increased our fair value estimate to $97 from $94",
    "gold": "[Cause]  stronger end-market performance in medium- and heavy-duty truck markets [Relation] cause [Effect] We've increased our fair value estimate to $97 from $94",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Having a good reputation and strong performance history is imperative when bidding for such megaprojects, as they often require multi-billion-dollar investments and are expected to operate around the clock for multiple decades.",
    "output": "[Cause] they often require multi-billion-dollar investments and are expected to operate around the clock for multiple decades [Relation] cause [Effect] Having a good reputation and strong performance history is imperative when bidding for such megaprojects",
    "gold": "[Cause] they often require multi-billion-dollar investments and are expected to operate around the clock for multiple decades [Relation] cause [Effect] Having a good reputation and strong performance history is imperative when bidding for such megaprojects",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Having 34% of its assets under management dedicated to alternative strategies and 17% committed to multi-asset strategies and other products at the end of the third quarter, the firm is not as heavily exposed to the impact passive investing has had on active equities.",
    "output": "[Cause] Having 34% of its assets under management dedicated to alternative strategies and 17% committed to multi-asset strategies and other products at the end of the third quarter [Relation] cause [Effect] the firm is not as heavily exposed to the impact passive investing has had on active equities",
    "gold": "[Cause] Having 34% of its assets under management dedicated to alternative strategies and 17% committed to multi-asset strategies and other products at the end of the third quarter [Relation] cause [Effect] the firm is not as heavily exposed to the impact passive investing has had on active equities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moats are established by firms with durable competitive advantages that enable them to earn sustainable excess returns on capital.",
    "output": "[Cause] Moats are established by firms with durable competitive advantages [Relation] enable [Effect] earn sustainable excess returns on capital",
    "gold": "[Cause] Moats are established by firms with durable competitive advantages [Relation] enable [Effect] earn sustainable excess returns on capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "One of the reasons for Praxair's strong performance has been its excellent execution of a piggybacking strategy, involving tight integration of the on-site, merchant, and packaged supply modes within a selected geographic radius.",
    "output": "[Cause] its excellent execution of a piggybacking strategy [Relation] cause [Effect] Praxair's strong performance",
    "gold": "[Cause] its excellent execution of a piggybacking strategy [Relation] cause [Effect]  Praxair's strong performance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, when there is weakness in demand in a specific region, Royal can generally redeploy ships away from that region or source consumers from another region for the existing itinerary, controlling the impact on pricing.",
    "output": "[Cause] there is weakness in demand in a specific region [Relation] cause [Effect] Royal can generally redeploy ships away from that region or source consumers from another region for the existing itinerary, controlling the impact on pricing",
    "gold": "[Cause] redeploy ships away from that region or source consumers from another region for the existing itinerary [Relation] enable [Effect] controlling the impact on pricing",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While Host has did a good job in 2018 in containing costs, the lack of rate growth has led to lackluster margin growth and thus low NOI growth.",
    "output": "[Cause] lackluster margin growth [Relation] cause [Effect] low NOI growth",
    "gold": "[Cause] the lack of rate growth [Relation] cause [Effect]  lackluster margin growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While Host has did a good job in 2018 in containing costs, the lack of rate growth has led to lackluster margin growth and thus low NOI growth.",
    "output": "[Cause] lackluster margin growth [Relation] cause [Effect] low NOI growth",
    "gold": "[Cause]  lackluster margin growth [Relation] cause [Effect]  low NOI growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Meanwhile, capital spending has been reduced through reduction in investment in the capital-intensive long-lead-time projects like LNG and the move toward more traditional projects like offshore, which have seen a 40% reduction in capital and operating costs.",
    "output": "[Cause] reduction in investment in the capital-intensive long-lead-time projects like LNG and the move toward more traditional projects like offshore [Relation] cause [Effect] capital spending has been reduced",
    "gold": "[Cause] capital spending has been reduced through reduction in investment in the capital-intensive long-lead-time projects like LNG and the move toward more traditional projects like offshore [Relation] cause [Effect] a 40% reduction in capital and operating costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Customers in Dollar General's more rural markets have few options, but the firm's growth should lead to the placement of new stores in more competitive areas.",
    "output": "[Cause] the firm's growth [Relation] cause [Effect] placement of new stores in more competitive areas",
    "gold": "[Cause] the firm's growth [Relation] cause [Effect] placement of new stores in more competitive areas",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's potash assets operate in the middle of the industry cost curve, by our estimates, as Mosaic spends more money to control mine flooding than its peers in Saskatchewan.",
    "output": "[Cause] Mosaic spends more money to control mine flooding than its peers in Saskatchewan [Relation] cause [Effect] The company's potash assets operate in the middle of the industry cost curve",
    "gold": "[Cause] Mosaic spends more money to control mine flooding than its peers in Saskatchewan [Relation] cause [Effect] The company's potash assets operate in the middle of the industry cost curve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the market has been consolidated, with eLong and Qunar having merged into Trip.com in 2015, the fat profits in the online travel business will continue to attract new entrants.",
    "output": "[Cause] the market has been consolidated [Relation] cause [Effect] eLong and Qunar having merged into Trip.com in 2015",
    "gold": "[Cause] eLong and Qunar having merged into Trip.com in 2015 [Relation] cause [Effect]  the market has been consolidated",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect the company will continue to integrate its services and offerings, which may put slight pressure on revenue and growth.",
    "output": "[Cause] the company will continue to integrate its services and offerings [Relation] cause [Effect] put slight pressure on revenue and growth",
    "gold": "[Cause] the company will continue to integrate its services and offerings [Relation] enable [Effect] put slight pressure on revenue and growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's historically conservative approach to capital allocation and investment has kept revenue growth moderate in the past few years, with revenue growing in the midsingle digits, save for a boost in 2012 through 2014 due to capacity expansion after a couple of lucrative deals with Big Pharmaceutical companies.",
    "output": "[Cause] capacity expansion after a couple of lucrative deals with Big Pharmaceutical companies [Relation] cause [Effect] The firm's historically conservative approach to capital allocation and investment has kept revenue growth moderate in the past few years, with revenue growing in the midsingle digits, save for a boost in 2012 through 2014",
    "gold": "[Cause] capacity expansion after a couple of lucrative deals with Big Pharmaceutical companies [Relation] cause [Effect] The firm's historically conservative approach to capital allocation and investment has kept revenue growth moderate in the past few years, with revenue growing in the midsingle digits, save for a boost in 2012 through 2014",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There are some large categories for both brands, including women's apparel, fragrances, watches, footwear, men's suits, and eyewear, that are licensed in many or all territories. Thus, PVH has limited control over these licensed products' styling, marketing, and pricing, and we think these brands have become diluted.",
    "output": "[Cause] There are some large categories for both brands, including women's apparel, fragrances, watches, footwear, men's suits, and eyewear, that are licensed in many or all territories [Relation] cause [Effect] PVH has limited control over these licensed products' styling, marketing, and pricing, and we think these brands have become diluted",
    "gold": "[Cause] There are some large categories for both brands, including women's apparel, fragrances, watches, footwear, men's suits, and eyewear, that are licensed in many or all territories [Relation] cause [Effect] PVH has limited control over these licensed products' styling, marketing, and pricing, and we think these brands have become diluted",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Excluding pandemic-related production disruption in 2020-21, we expect gross margins to gradually increase to 22.5% by 2030, driven by improved product mix and supply chain cost savings.",
    "output": "[Cause] pandemic-related production disruption in 2020-21 [Relation] cause [Effect] gross margins to gradually increase to 22.5% by 2030",
    "gold": "[Cause] pandemic [Relation] cause [Effect] production disruption in 2020-21",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Excluding pandemic-related production disruption in 2020-21, we expect gross margins to gradually increase to 22.5% by 2030, driven by improved product mix and supply chain cost savings.",
    "output": "[Cause] improved product mix and supply chain cost savings [Relation] cause [Effect] gross margins to gradually increase to 22.5% by 2030",
    "gold": "[Cause] improved product mix and supply chain cost savings [Relation] cause [Effect] gross margins to gradually increase to 22.5% by 2030",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to a surge of sales during the pandemic, Dick's operating margin jumped to 7.7% in 2020 from 5.1% (adjusted) in 2019, but we view the effect as temporary and do not anticipate margins will return to previous highs.",
    "output": "[Cause] a surge of sales during the pandemic [Relation] cause [Effect] Dick's operating margin jumped to 7.7% in 2020 from 5.1% (adjusted) in 2019",
    "gold": "[Cause] a surge of sales during the pandemic [Relation] cause [Effect] Dick's operating margin jumped to 7.7% in 2020 from 5.1% (adjusted) in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the market tending to reward organic growth and above-average profitability in the asset managers, Franklin has a steep hill to climb.",
    "output": "[Cause] the market tending to reward organic growth and above-average profitability in the asset managers [Relation] cause [Effect] Franklin has a steep hill to climb",
    "gold": "[Cause] the market tending to reward organic growth and above-average profitability in the asset managers [Relation] cause [Effect]  Franklin has a steep hill to climb",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our fair value uncertainty rating for Microchip is medium; although the firm competes in the cyclical chip industry, Microchip's broad customer base and the long lives of its products help insulate the company a bit more than other chipmakers we cover.",
    "output": "[Cause] Microchip's broad customer base and the long lives of its products [Relation] enable [Effect] insulate the company a bit more than other chipmakers we cover",
    "gold": "[Cause]  Microchip's broad customer base and the long lives of its products [Relation] enable [Effect] insulate the company a bit more than other chipmakers we cover",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Research and development expenses kept Ionis in the red before 2018, but the firm has booked significant collaboration revenue from new, expanded, and advancing partnerships over the past few years.",
    "output": "[Cause] new, expanded, and advancing partnerships over the past few years [Relation] enable [Effect] the firm has booked significant collaboration revenue",
    "gold": "[Cause] new, expanded, and advancing partnerships over the past few years [Relation] enable [Effect] the firm has booked significant collaboration revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Philips systems are deeply embedded in hospital workflows and changing them would take time, in addition to possible disruptions in hospital operations.",
    "output": "[Cause] Philips systems are deeply embedded in hospital workflows [Relation] cause [Effect] changing them would take time",
    "gold": "[Cause] Philips systems are deeply embedded in hospital workflows and changing them would take time [Relation] cause [Effect] possible disruptions in hospital operations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Paylocity has continued to invest in salespeople to drive the top line and new product innovation, so it has not seen significant operating leverage from its other expense lines.",
    "output": "[Cause] Paylocity has continued to invest in salespeople [Relation] enable [Effect] drive the top line and new product innovation",
    "gold": "[Cause] Paylocity has continued to invest in salespeople [Relation] enable [Effect] drive the top line and new product innovation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Paylocity has continued to invest in salespeople to drive the top line and new product innovation, so it has not seen significant operating leverage from its other expense lines.",
    "output": "[Cause] Paylocity has continued to invest in salespeople [Relation] cause [Effect] it has not seen significant operating leverage from its other expense lines",
    "gold": "[Cause] Paylocity has continued to invest in salespeople [Relation] cause [Effect]  it has not seen significant operating leverage from its other expense lines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In all, we believe the customer switching costs will enable the firm to realize excess economic profits for at least the next decade.",
    "output": "[Cause] the customer switching costs [Relation] enable [Effect] the firm to realize excess economic profits for at least the next decade",
    "gold": "[Cause]  the customer switching costs [Relation] enable [Effect] the firm to realize excess economic profits for at least the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This scaling advantage was perpetuated through higher-than-peer-average R&D and capital expenditure budget that allows it to control the entire design and manufacturing process in an industry where the majority of competition focuses on only one phase.",
    "output": "[Cause] This scaling advantage was perpetuated through higher-than-peer-average R&D and capital expenditure budget [Relation] enable [Effect] it to control the entire design and manufacturing process in an industry where the majority of competition focuses on only one phase",
    "gold": "[Cause] This scaling advantage was perpetuated through higher-than-peer-average R&D and capital expenditure budget [Relation] enable [Effect] allows it to control the entire design and manufacturing process in an industry",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nonetheless, should Chinese demand for copper continue to deteriorate, it's likely that Chile's banks would at least indirectly feel the impact, as copper mining still represents about 10% of GDP.",
    "output": "[Cause] Chinese demand for copper continue to deteriorate [Relation] cause [Effect] Chile's banks would at least indirectly feel the impact",
    "gold": "[Cause] copper mining still represents about 10% of GDP [Relation] cause [Effect]  Chile's banks would at least indirectly feel the impact",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nonetheless, should Chinese demand for copper continue to deteriorate, it's likely that Chile's banks would at least indirectly feel the impact, as copper mining still represents about 10% of GDP.",
    "output": "[Cause] copper mining still represents about 10% of GDP [Relation] cause [Effect] Chile's banks would at least indirectly feel the impact",
    "gold": "[Cause]  Chinese demand for copper continue to deteriorate [Relation] cause [Effect]  Chile's banks would at least indirectly feel the impact",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Third-party owners that choose to outsource management responsibilities seek a strong brand and management team with both scale and expertise in reservation, advertising, marketing, and labor management, which leads to strong revenue per available room, or revPAR, occupancy, and profitability.",
    "output": "[Cause] a strong brand and management team with both scale and expertise in reservation, advertising, marketing, and labor management [Relation] cause [Effect] strong revenue per available room, or revPAR, occupancy, and profitability",
    "gold": "[Cause] a strong brand and management team with both scale and expertise in reservation, advertising, marketing, and labor management [Relation] cause [Effect] strong revenue per available room, or revPAR, occupancy, and profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Economic profitability may be at risk if steel, copper, aluminum, or plastic resin prices return to the highs of the last decade.",
    "output": "[Cause] steel, copper, aluminum, or plastic resin prices return to the highs of the last decade [Relation] cause [Effect] Economic profitability may be at risk",
    "gold": "[Cause] steel, copper, aluminum, or plastic resin prices return to the highs of the last decade [Relation] cause [Effect] Economic profitability may be at risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Eli Lilly's innovative culture and strong financial commitment to developing the next generation of drugs set the company apart from its peers and fuel its long-term growth.",
    "output": "[Cause] Eli Lilly's innovative culture and strong financial commitment to developing the next generation of drugs [Relation] enable [Effect] set the company apart from its peers and fuel its long-term growth",
    "gold": "[Cause] Eli Lilly's innovative culture and strong financial commitment to developing the next generation of drugs [Relation] enable [Effect] set the company apart from its peers and fuel its long-term growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're reducing our fair value estimate for Millicom's ADRs to $64 from $72 in light of the firm's outlook for the impact of COVID-19 on its 2020 results.",
    "output": "[Cause] the firm's outlook for the impact of COVID-19 on its 2020 results [Relation] cause [Effect] We're reducing our fair value estimate for Millicom's ADRs to $64 from $72",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] reducing our fair value estimate for Millicom's ADRs to $64 from $72 in light of the firm's outlook | on its 2020 results",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Competition continues to intensify for Honda, which may make margin expansion more difficult than in the past, so our midcycle operating margin (excluding financial services) is below 2%.",
    "output": "[Cause] Competition continues to intensify for Honda [Relation] cause [Effect] margin expansion more difficult than in the past",
    "gold": "[Cause] Competition continues to intensify for Honda [Relation] cause [Effect] margin expansion more difficult than in the past",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Competition continues to intensify for Honda, which may make margin expansion more difficult than in the past, so our midcycle operating margin (excluding financial services) is below 2%.",
    "output": "[Cause] margin expansion more difficult than in the past [Relation] cause [Effect] our midcycle operating margin (excluding financial services) is below 2%",
    "gold": "[Cause] margin expansion more difficult than in the past [Relation] cause [Effect] our midcycle operating margin (excluding financial services) is below 2%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The business has also increased its proportion of outsourced production, which is expected to allow the company to maintain strong profitability when commodity prices drop and demand for new equipment falls.",
    "output": "[Cause] The business has also increased its proportion of outsourced production [Relation] enable [Effect] the company to maintain strong profitability when commodity prices drop and demand for new equipment falls",
    "gold": "[Cause] The business has also increased its proportion of outsourced production [Relation] enable [Effect] the company to maintain strong profitability when commodity prices drop and demand for new equipment falls",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project average annual revenue growth of roughly 7% through 2025, fueled by a robust backlog in the government solutions sector (roughly $12.5 billion at the end of 2020) and growth opportunities due to growing demand for energy transition and sustainability solutions in the sustainable technology solutions segment.",
    "output": "[Cause] a robust backlog in the government solutions sector (roughly $12.5 billion at the end of 2020) and growth opportunities [Relation] cause [Effect] average annual revenue growth of roughly 7% through 2025",
    "gold": "[Cause] growing demand for energy transition and sustainability solutions in the sustainable technology solutions segment [Relation] cause [Effect] growth opportunities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We project average annual revenue growth of roughly 7% through 2025, fueled by a robust backlog in the government solutions sector (roughly $12.5 billion at the end of 2020) and growth opportunities due to growing demand for energy transition and sustainability solutions in the sustainable technology solutions segment.",
    "output": "[Cause] growing demand for energy transition and sustainability solutions in the sustainable technology solutions segment [Relation] cause [Effect] growth opportunities",
    "gold": "[Cause] a robust backlog in the government solutions sector (roughly $12.5 billion at the end of 2020) [Relation] cause [Effect] average annual revenue growth of roughly 7% through 2025",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As such we don't posit promotional spend will remain dormant over a longer horizon (as has been the case since March 2020 given the extent to which demand has been outpacing supply in categories throughout the store), as competitors muscle for share gains.",
    "output": "[Cause] competitors muscle for share gains [Relation] cause [Effect] we don't posit promotional spend will remain dormant over a longer horizon",
    "gold": "[Cause] has been the case since March 2020 given the extent to which demand has been outpacing supply in categories throughout the store [Relation] cause [Effect] we don't posit promotional spend will remain dormant over a longer horizon",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Fortinet built its sprawling base of more than 450,000 customers predominantly on unified threat management, or UTM, appliances within the small and midsize business market and has expanded its portfolio to accommodate the higher security demands of enterprises, governments, and service providers.",
    "output": "[Cause] Fortinet built its sprawling base of more than 450,000 customers predominantly on unified threat management, or UTM, appliances within the small and midsize business market and has expanded its portfolio [Relation] enable [Effect] accommodate the higher security demands of enterprises, governments, and service providers",
    "gold": "[Cause]  the higher security demands of enterprises, governments, and service providers [Relation] enable [Effect] appliances within the small and midsize business market and has expanded its portfolio",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Compared with competitors like Zillow, Redfin has a potential advantage in iBuying because it has its own sellers' agents and buyers' agents given its status as a brokerage. This could reduce the company's overall transaction costs and allow it to pocket more of the transaction fees that it charges consumers.",
    "output": "[Cause] Compared with competitors like Zillow, Redfin has a potential advantage in iBuying because it has its own sellers' agents and buyers' agents given its status as a brokerage [Relation] cause [Effect] reduce the company's overall transaction costs and allow it to pocket more of the transaction fees that it charges consumers",
    "gold": "[Cause] Compared with competitors like Zillow, Redfin has a potential advantage in iBuying because it has its own sellers' agents and buyers' agents given its status as a brokerage [Relation] cause [Effect]  reduce the company's overall transaction costs and allow it to pocket more of the transaction fees that it charges consumers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite the changes, we still believe that the firm will have an opportunity to accelerate openings in higher-growth markets with real estate pricing growing more attractive in light of recent restaurant closures, underpinning our unit-growth thesis.",
    "output": "[Cause] recent restaurant closures [Relation] cause [Effect] the firm will have an opportunity to accelerate openings in higher-growth markets with real estate pricing growing more attractive",
    "gold": "[Cause] recent restaurant closures [Relation] cause [Effect]  the firm will have an opportunity to accelerate openings in higher-growth markets with real estate pricing growing more attractive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Gathering data for cobrand and private-label partners, and coming up with unique rewards and loyalty programs for these clients can also generate switching costs.",
    "output": "[Cause] Gathering data for cobrand and private-label partners, and coming up with unique rewards and loyalty programs for these clients [Relation] cause [Effect] generate switching costs",
    "gold": "[Cause] Gathering data for cobrand and private-label partners, and coming up with unique rewards and loyalty programs for these clients [Relation] enable [Effect] generate switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Amgen to see relatively steady free cash flow margins, and returns on invested capital should remain above its cost of capital for the foreseeable future.",
    "output": "[Cause] relatively steady free cash flow margins [Relation] enable [Effect] returns on invested capital should remain above its cost of capital for the foreseeable future",
    "gold": "[Cause] remain above its cost of capital for the foreseeable future [Relation] enable [Effect] We expect Amgen to see relatively steady free cash flow margins, and returns on invested capital",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In 2020 Cerner lost one of its largest clients, AdventHealth, largely due to underperformance of its revenue cycle management (RCM) technology.",
    "output": "[Cause] underperformance of its revenue cycle management (RCM) technology [Relation] cause [Effect] In 2020 Cerner lost one of its largest clients, AdventHealth",
    "gold": "[Cause] underperformance of its revenue cycle management (RCM) technology [Relation] cause [Effect] In 2020 Cerner lost one of its largest clients, AdventHealth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The life cycle of such devices is also rather short, meaning a design win into a given PC or server model does not guarantee decades of repeat business.",
    "output": "[Cause] The life cycle of such devices is also rather short [Relation] cause [Effect] a design win into a given PC or server model does not guarantee decades of repeat business",
    "gold": "[Cause]  a design win into a given PC or server model does not guarantee decades of repeat business [Relation] cause [Effect] The life cycle of such devices is also rather short",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For example, the adhesive dispensing segment manufactures products and systems that are components of a production line and thus tightly integrated into a customer's manufacturing process.",
    "output": "[Cause] the adhesive dispensing segment manufactures products and systems that are components of a production line [Relation] cause [Effect] tightly integrated into a customer's manufacturing process",
    "gold": "[Cause] the adhesive dispensing segment manufactures products and systems that are components of a production line [Relation] cause [Effect]  tightly integrated into a customer's manufacturing process",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "NetEase licenses the global IPs such as Harry Potter, Marvel and the Lord of the Rings to create mobile games to attract global players.",
    "output": "[Cause] NetEase licenses the global IPs such as Harry Potter, Marvel and the Lord of the Rings to create mobile games [Relation] enable [Effect] attract global players",
    "gold": "[Cause] NetEase licenses the global IPs such as Harry Potter, Marvel and the Lord of the Rings to create mobile games [Relation] enable [Effect] attract global players",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our base case, we forecast assets in ETFs linked to MSCI indexes to grow at about 9% per year in the near term, driven by net inflows and market appreciation.",
    "output": "[Cause] net inflows and market appreciation [Relation] cause [Effect] assets in ETFs linked to MSCI indexes to grow at about 9% per year in the near term",
    "gold": "[Cause] net inflows and market appreciation [Relation] cause [Effect] assets in ETFs linked to MSCI indexes to grow at about 9% per year in the near term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, restructuring doesn't materially change our view on its margin profile as 3M has had execution issues over the last couple of years, though we point out new restructuring actions are less related to its coronavirus response and more reflective of its go-to-market strategy.",
    "output": "[Cause] restructuring [Relation] prevent [Effect] materially change our view on its margin profile",
    "gold": "[Cause]  3M has had execution issues over the last couple of years [Relation] enable [Effect] restructuring doesn't materially change our view on its margin profile",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Even before the crisis, though, we believed the company would struggle to generate growth, as e-commerce, discount, and specialty stores have siphoned apparel sales from department stores for years.",
    "output": "[Cause] e-commerce, discount, and specialty stores have siphoned apparel sales from department stores for years [Relation] cause [Effect] the company would struggle to generate growth",
    "gold": "[Cause]  e-commerce, discount, and specialty stores have siphoned apparel sales from department stores for years [Relation] cause [Effect]  the company would struggle to generate growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Amazon requires that companies that are selling data set usage on AWS publish the cost of such data sets. This allows the data sellers little flexibility in a marketplace that traditionally depends on variable pricing, dependent on the size and use cases of the data buyer.",
    "output": "[Cause] Amazon requires that companies that are selling data set usage on AWS publish the cost of such data sets [Relation] enable [Effect] the data sellers little flexibility in a marketplace that traditionally depends on variable pricing, dependent on the size and use cases of the data buyer",
    "gold": "[Cause] Amazon requires that companies that are selling data set usage on AWS publish the cost of such data sets [Relation] cause [Effect] the data sellers little flexibility in a marketplace that traditionally depends on variable pricing, dependent on the size and use cases of the data buyer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the increased exposure to large pharma was a necessary strategic move because partnerships with these large clients form sticky relationships with high switching costs.",
    "output": "[Cause] partnerships with these large clients form sticky relationships with high switching costs [Relation] cause [Effect] the increased exposure to large pharma was a necessary strategic move",
    "gold": "[Cause] partnerships with these large clients form sticky relationships with high switching costs [Relation] cause [Effect] the increased exposure to large pharma was a necessary strategic move",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A key driver of our higher top-line forecasts is tight industry capacity, which is breathing new life into Knight's contract pricing, and double-digit rate gains aren't out of the question for 2021.",
    "output": "[Cause] tight industry capacity [Relation] enable [Effect] our higher top-line forecasts",
    "gold": "[Cause] A key driver of our higher top-line forecasts is tight industry capacity [Relation] enable [Effect] breathing new life into Knight's contract pricing",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company's ROIC has consistently improved since 2011 because of the sale of its underperforming businesses, increased volume supported by strengthening end-market demand and market share gains, and successful cost-reduction initiatives.",
    "output": "[Cause] the sale of its underperforming businesses, increased volume supported by strengthening end-market demand and market share gains, and successful cost-reduction initiatives [Relation] cause [Effect] The company's ROIC has consistently improved since 2011",
    "gold": "[Cause]  the sale of its underperforming businesses, increased volume supported by strengthening end-market demand and market share gains, and successful cost-reduction initiatives [Relation] enable [Effect] The company's ROIC has consistently improved since 2011",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Juniper to benefit from networking demands driven by hybrid-cloud infrastructure and 5G wireless networks, and we posit that some of its products are installed within mission critical places within networks.",
    "output": "[Cause] hybrid-cloud infrastructure and 5G wireless networks [Relation] enable [Effect] Juniper to benefit from networking demands",
    "gold": "[Cause]  hybrid-cloud infrastructure and 5G wireless networks [Relation] enable [Effect]  Juniper to benefit from networking demands",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Manpower's focus on mostly national and multinational large-sized businesses (60% of 2019 revenue) weakens the advantage of its large database of resumes because large businesses have more bargaining power compared with small- and medium-sized businesses.",
    "output": "[Cause] large businesses have more bargaining power compared with small- and medium-sized businesses [Relation] cause [Effect] Manpower's focus on mostly national and multinational large-sized businesses (60% of 2019 revenue) weakens the advantage of its large database of resumes",
    "gold": "[Cause]  large businesses have more bargaining power compared with small- and medium-sized businesses [Relation] cause [Effect] Manpower's focus on mostly national and multinational large-sized businesses (60% of 2019 revenue) weakens the advantage of its large database of resumes",
    "valid": true,
    "tag": "em"
  }
]
