Corpus-based semantic space models, which primarily rely on lexical co-occurrence statistics, have proven effective in modeling and predicting human behavior in a number of experimental paradigms that explore semantic memory representation. The most widely studied extant models, however, are strongly influenced by orthographic word frequency (e.g., Shaoul & Westbury, Behavior Research Methods, 38, 190–195, 2006). This has the implication that high-frequency closed-class words can potentially bias co-occurrence statistics. Because these closed-class words are purported to carry primarily syntactic, rather than semantic, information, the performance of corpus-based semantic space models may be improved by excluding closed-class words (using stop lists) from co-occurrence statistics, while retaining their syntactic information through other means (e.g., part-of-speech tagging and/or affixes from inflected word forms). Additionally, very little work has been done to explore the effect of employing morphological decomposition on the inflected forms of words in corpora prior to compiling co-occurrence statistics, despite (controversial) evidence that humans perform early morphological decomposition in semantic processing. In this study, we explored the impact of these factors on corpus-based semantic space models. From this study, morphological decomposition appears to significantly improve performance in word–word co-occurrence semantic space models, providing some support for the claim that sublexical information—specifically, word morphology—plays a role in lexical semantic processing. An overall decrease in performance was observed in models employing stop lists (e.g., excluding closed-class words). Furthermore, we found some evidence that weakens the claim that closed-class words supply primarily syntactic information in word–word co-occurrence semantic space models.