id	sid	tid	token	lemma	pos
ap-952	1	1	ap07_4-5.vp	ap07_4-5.vp	NOUN
ap-952	1	2	1	1	NUM
ap-952	1	3	introduction	introduction	NOUN
ap-952	1	4	there	there	PRON
ap-952	1	5	are	be	VERB
ap-952	1	6	a	a	DET
ap-952	1	7	vast	vast	ADJ
ap-952	1	8	number	number	NOUN
ap-952	1	9	of	of	ADP
ap-952	1	10	telecommunications	telecommunications	NOUN
ap-952	1	11	groups	group	NOUN
ap-952	1	12	in	in	ADP
ap-952	1	13	europe	europe	PROPN
ap-952	1	14	.	.	PUNCT
ap-952	2	1	to	to	PART
ap-952	2	2	pick	pick	VERB
ap-952	2	3	the	the	DET
ap-952	2	4	companies	company	NOUN
ap-952	2	5	for	for	ADP
ap-952	2	6	the	the	DET
ap-952	2	7	valuation	valuation	NOUN
ap-952	2	8	presented	present	VERB
ap-952	2	9	,	,	PUNCT
ap-952	2	10	the	the	DET
ap-952	2	11	following	follow	VERB
ap-952	2	12	criteria	criterion	NOUN
ap-952	2	13	were	be	AUX
ap-952	2	14	used	use	VERB
ap-952	2	15	:	:	PUNCT
ap-952	2	16	�	�	PROPN
ap-952	2	17	quality	quality	NOUN
ap-952	2	18	of	of	ADP
ap-952	2	19	the	the	DET
ap-952	2	20	web	web	NOUN
ap-952	2	21	page	page	NOUN
ap-952	2	22	(	(	PUNCT
ap-952	2	23	english	english	ADJ
ap-952	2	24	version	version	NOUN
ap-952	2	25	)	)	PUNCT
ap-952	2	26	,	,	PUNCT
ap-952	2	27	�	�	PROPN
ap-952	2	28	negotiability	negotiability	NOUN
ap-952	2	29	on	on	ADP
ap-952	2	30	the	the	DET
ap-952	2	31	stock	stock	NOUN
ap-952	2	32	market	market	NOUN
ap-952	2	33	,	,	PUNCT
ap-952	2	34	�	�	PROPN
ap-952	2	35	stability	stability	NOUN
ap-952	2	36	and	and	CCONJ
ap-952	2	37	integrity	integrity	NOUN
ap-952	2	38	in	in	ADP
ap-952	2	39	accounting	accounting	NOUN
ap-952	2	40	principles	principle	NOUN
ap-952	2	41	,	,	PUNCT
ap-952	2	42	�	�	PROPN
ap-952	2	43	stability	stability	NOUN
ap-952	2	44	in	in	ADP
ap-952	2	45	the	the	DET
ap-952	2	46	structure	structure	NOUN
ap-952	2	47	of	of	ADP
ap-952	2	48	the	the	DET
ap-952	2	49	group	group	NOUN
ap-952	2	50	.	.	PUNCT
ap-952	3	1	the	the	DET
ap-952	3	2	companies	company	NOUN
ap-952	3	3	were	be	AUX
ap-952	3	4	selected	select	VERB
ap-952	3	5	on	on	ADP
ap-952	3	6	the	the	DET
ap-952	3	7	basis	basis	NOUN
ap-952	3	8	of	of	ADP
ap-952	3	9	these	these	DET
ap-952	3	10	criteria	criterion	NOUN
ap-952	3	11	between	between	ADP
ap-952	3	12	2002	2002	NUM
ap-952	3	13	and	and	CCONJ
ap-952	3	14	2005	2005	NUM
ap-952	3	15	.	.	PUNCT
ap-952	4	1	i	i	PRON
ap-952	4	2	selected	select	VERB
ap-952	4	3	the	the	DET
ap-952	4	4	following	follow	VERB
ap-952	4	5	six	six	NUM
ap-952	4	6	telecommunications	telecommunication	NOUN
ap-952	4	7	operators	operator	NOUN
ap-952	5	1	[	[	X
ap-952	5	2	1	1	NUM
ap-952	5	3	]	]	X
ap-952	5	4	:	:	PUNCT
ap-952	5	5	�	�	PROPN
ap-952	5	6	ote	ote	PROPN
ap-952	5	7	(	(	PUNCT
ap-952	5	8	greek	greek	PROPN
ap-952	5	9	)	)	PUNCT
ap-952	5	10	,	,	PUNCT
ap-952	5	11	�	�	PROPN
ap-952	5	12	czech	czech	PROPN
ap-952	5	13	telecom	telecom	PROPN
ap-952	5	14	(	(	PUNCT
ap-952	5	15	ct	ct	PROPN
ap-952	5	16	)	)	PUNCT
ap-952	5	17	(	(	PUNCT
ap-952	5	18	czech	czech	PROPN
ap-952	5	19	)	)	PUNCT
ap-952	5	20	,	,	PUNCT
ap-952	5	21	�	�	PROPN
ap-952	5	22	swisscom	swisscom	X
ap-952	5	23	(	(	PUNCT
ap-952	5	24	swiss	swiss	PROPN
ap-952	5	25	)	)	PUNCT
ap-952	5	26	,	,	PUNCT
ap-952	5	27	�	�	PROPN
ap-952	5	28	telekom	telekom	PROPN
ap-952	5	29	austria	austria	PROPN
ap-952	5	30	(	(	PUNCT
ap-952	5	31	ta	ta	NOUN
ap-952	5	32	)	)	PUNCT
ap-952	5	33	(	(	PUNCT
ap-952	5	34	austrian	austrian	NOUN
ap-952	5	35	)	)	PUNCT
ap-952	5	36	,	,	PUNCT
ap-952	5	37	�	�	PROPN
ap-952	5	38	telenor	telenor	NOUN
ap-952	5	39	(	(	PUNCT
ap-952	5	40	norwegian	norwegian	PROPN
ap-952	5	41	)	)	PUNCT
ap-952	5	42	,	,	PUNCT
ap-952	5	43	�	�	PROPN
ap-952	5	44	teliasonera	teliasonera	NOUN
ap-952	5	45	(	(	PUNCT
ap-952	5	46	ts	ts	NOUN
ap-952	5	47	)	)	PUNCT
ap-952	5	48	(	(	PUNCT
ap-952	5	49	swedish	swedish	ADJ
ap-952	5	50	-	-	PUNCT
ap-952	5	51	finnish	finnish	ADJ
ap-952	5	52	)	)	PUNCT
ap-952	5	53	.	.	PUNCT
ap-952	6	1	each	each	PRON
ap-952	6	2	of	of	ADP
ap-952	6	3	these	these	DET
ap-952	6	4	companies	company	NOUN
ap-952	6	5	has	have	VERB
ap-952	6	6	a	a	DET
ap-952	6	7	division	division	NOUN
ap-952	6	8	that	that	PRON
ap-952	6	9	deals	deal	VERB
ap-952	6	10	with	with	ADP
ap-952	6	11	the	the	DET
ap-952	6	12	mobile	mobile	ADJ
ap-952	6	13	segment	segment	NOUN
ap-952	6	14	and	and	CCONJ
ap-952	6	15	also	also	ADV
ap-952	6	16	a	a	DET
ap-952	6	17	division	division	NOUN
ap-952	6	18	that	that	PRON
ap-952	6	19	runs	run	VERB
ap-952	6	20	fixed	fix	VERB
ap-952	6	21	lines	line	NOUN
ap-952	6	22	.	.	PUNCT
ap-952	7	1	there	there	PRON
ap-952	7	2	are	be	VERB
ap-952	7	3	significant	significant	ADJ
ap-952	7	4	distinctions	distinction	NOUN
ap-952	7	5	between	between	ADP
ap-952	7	6	the	the	DET
ap-952	7	7	companies	company	NOUN
ap-952	7	8	.	.	PUNCT
ap-952	8	1	for	for	ADP
ap-952	8	2	example	example	NOUN
ap-952	8	3	,	,	PUNCT
ap-952	8	4	czech	czech	ADJ
ap-952	8	5	telecom	telecom	NOUN
ap-952	8	6	and	and	CCONJ
ap-952	8	7	swisscom	swisscom	PROPN
ap-952	8	8	operate	operate	VERB
ap-952	8	9	only	only	ADV
ap-952	8	10	in	in	ADP
ap-952	8	11	their	their	PRON
ap-952	8	12	home	home	NOUN
ap-952	8	13	countries	country	NOUN
ap-952	8	14	,	,	PUNCT
ap-952	8	15	while	while	SCONJ
ap-952	8	16	the	the	DET
ap-952	8	17	others	other	NOUN
ap-952	8	18	have	have	VERB
ap-952	8	19	subsidiaries	subsidiary	NOUN
ap-952	8	20	also	also	ADV
ap-952	8	21	in	in	ADP
ap-952	8	22	other	other	ADJ
ap-952	8	23	european	european	ADJ
ap-952	8	24	countries	country	NOUN
ap-952	8	25	(	(	PUNCT
ap-952	8	26	some	some	PRON
ap-952	8	27	of	of	ADP
ap-952	8	28	them	they	PRON
ap-952	8	29	in	in	ADP
ap-952	8	30	asia	asia	PROPN
ap-952	8	31	)	)	PUNCT
ap-952	8	32	.	.	PUNCT
ap-952	9	1	2	2	NUM
ap-952	9	2	techno	techno	NOUN
ap-952	9	3	-	-	PUNCT
ap-952	9	4	economic	economic	ADJ
ap-952	9	5	indicators	indicator	NOUN
ap-952	9	6	the	the	DET
ap-952	9	7	first	first	ADJ
ap-952	9	8	part	part	NOUN
ap-952	9	9	of	of	ADP
ap-952	9	10	the	the	DET
ap-952	9	11	comparison	comparison	NOUN
ap-952	9	12	is	be	AUX
ap-952	9	13	based	base	VERB
ap-952	9	14	on	on	ADP
ap-952	9	15	techno	techno	NOUN
ap-952	9	16	-	-	PUNCT
ap-952	9	17	economic	economic	ADJ
ap-952	9	18	indicators	indicator	NOUN
ap-952	9	19	.	.	PUNCT
ap-952	10	1	the	the	DET
ap-952	10	2	following	follow	VERB
ap-952	10	3	absolute	absolute	ADJ
ap-952	10	4	size	size	NOUN
ap-952	10	5	indicators	indicator	NOUN
ap-952	10	6	were	be	AUX
ap-952	10	7	chosen	choose	VERB
ap-952	10	8	:	:	PUNCT
ap-952	10	9	�	�	PROPN
ap-952	10	10	number	number	NOUN
ap-952	10	11	of	of	ADP
ap-952	10	12	customers	customer	NOUN
ap-952	10	13	,	,	PUNCT
ap-952	10	14	�	�	PROPN
ap-952	10	15	number	number	NOUN
ap-952	10	16	of	of	ADP
ap-952	10	17	employees	employee	NOUN
ap-952	10	18	,	,	PUNCT
ap-952	10	19	�	�	PROPN
ap-952	10	20	revenues	revenue	NOUN
ap-952	10	21	,	,	PUNCT
ap-952	10	22	�	�	PROPN
ap-952	10	23	ebitda	ebitda	PROPN
ap-952	10	24	–	–	PUNCT
ap-952	10	25	earnings	earning	NOUN
ap-952	10	26	before	before	ADP
ap-952	10	27	interest	interest	NOUN
ap-952	10	28	,	,	PUNCT
ap-952	10	29	taxes	taxis	NOUN
ap-952	10	30	depreciation	depreciation	NOUN
ap-952	10	31	and	and	CCONJ
ap-952	10	32	amortization	amortization	NOUN
ap-952	10	33	,	,	PUNCT
ap-952	10	34	�	�	PROPN
ap-952	10	35	capex	capex	PROPN
ap-952	10	36	–	–	PUNCT
ap-952	10	37	capital	capital	NOUN
ap-952	10	38	expenditures	expenditure	NOUN
ap-952	10	39	,	,	PUNCT
ap-952	10	40	�	�	PROPN
ap-952	10	41	arpu	arpu	PROPN
ap-952	10	42	–	–	PUNCT
ap-952	10	43	average	average	ADJ
ap-952	10	44	revenue	revenue	NOUN
ap-952	10	45	per	per	ADP
ap-952	10	46	user	user	NOUN
ap-952	10	47	–	–	PUNCT
ap-952	10	48	revenue	revenue	NOUN
ap-952	10	49	generated	generate	VERB
ap-952	10	50	by	by	ADP
ap-952	10	51	a	a	DET
ap-952	10	52	mobile	mobile	ADJ
ap-952	10	53	customer	customer	NOUN
ap-952	10	54	per	per	ADP
ap-952	10	55	month	month	NOUN
ap-952	10	56	.	.	PUNCT
ap-952	11	1	subsequently	subsequently	ADV
ap-952	11	2	,	,	PUNCT
ap-952	11	3	several	several	ADJ
ap-952	11	4	relative	relative	ADJ
ap-952	11	5	indicators	indicator	NOUN
ap-952	11	6	were	be	AUX
ap-952	11	7	evaluated	evaluate	VERB
ap-952	11	8	and	and	CCONJ
ap-952	11	9	used	use	VERB
ap-952	11	10	to	to	PART
ap-952	11	11	compare	compare	VERB
ap-952	11	12	the	the	DET
ap-952	11	13	companies	company	NOUN
ap-952	11	14	.	.	PUNCT
ap-952	12	1	the	the	DET
ap-952	12	2	highest	high	ADJ
ap-952	12	3	numbers	number	NOUN
ap-952	12	4	of	of	ADP
ap-952	12	5	customers	customer	NOUN
ap-952	12	6	are	be	AUX
ap-952	12	7	reported	report	VERB
ap-952	12	8	by	by	ADP
ap-952	12	9	the	the	DET
ap-952	12	10	northern	northern	ADJ
ap-952	12	11	groups	group	NOUN
ap-952	12	12	,	,	PUNCT
ap-952	12	13	telenor	telenor	NOUN
ap-952	12	14	and	and	CCONJ
ap-952	12	15	teliasonera	teliasonera	NOUN
ap-952	12	16	.	.	PUNCT
ap-952	13	1	the	the	DET
ap-952	13	2	highest	high	ADJ
ap-952	13	3	numbers	number	NOUN
ap-952	13	4	of	of	ADP
ap-952	13	5	employees	employee	NOUN
ap-952	13	6	are	be	AUX
ap-952	13	7	found	find	VERB
ap-952	13	8	in	in	ADP
ap-952	13	9	the	the	DET
ap-952	13	10	ote	ote	PROPN
ap-952	13	11	group	group	NOUN
ap-952	13	12	,	,	PUNCT
ap-952	13	13	but	but	CCONJ
ap-952	13	14	during	during	ADP
ap-952	13	15	the	the	DET
ap-952	13	16	monitored	monitored	ADJ
ap-952	13	17	years	year	NOUN
ap-952	13	18	,	,	PUNCT
ap-952	13	19	the	the	DET
ap-952	13	20	number	number	NOUN
ap-952	13	21	decreased	decrease	VERB
ap-952	13	22	dramatically	dramatically	ADV
ap-952	13	23	.	.	PUNCT
ap-952	14	1	the	the	DET
ap-952	14	2	progression	progression	NOUN
ap-952	14	3	of	of	ADP
ap-952	14	4	the	the	DET
ap-952	14	5	other	other	ADJ
ap-952	14	6	indicators	indicator	NOUN
ap-952	14	7	is	be	AUX
ap-952	14	8	very	very	ADV
ap-952	14	9	variable	variable	ADJ
ap-952	14	10	.	.	PUNCT
ap-952	15	1	3	3	NUM
ap-952	15	2	financial	financial	ADJ
ap-952	15	3	indicators	indicator	NOUN
ap-952	15	4	i	i	PRON
ap-952	15	5	decided	decide	VERB
ap-952	15	6	to	to	PART
ap-952	15	7	divide	divide	VERB
ap-952	15	8	the	the	DET
ap-952	15	9	financial	financial	ADJ
ap-952	15	10	indicators	indicator	NOUN
ap-952	15	11	into	into	ADP
ap-952	15	12	three	three	NUM
ap-952	15	13	main	main	ADJ
ap-952	15	14	groups	group	NOUN
ap-952	15	15	:	:	PUNCT
ap-952	15	16	�	�	NOUN
ap-952	15	17	profitability	profitability	NOUN
ap-952	15	18	indicators	indicator	NOUN
ap-952	15	19	,	,	PUNCT
ap-952	15	20	�	�	PROPN
ap-952	15	21	altman	altman	PROPN
ap-952	15	22	’s	’s	PART
ap-952	15	23	z	z	PROPN
ap-952	15	24	-	-	PUNCT
ap-952	15	25	score	score	NOUN
ap-952	15	26	,	,	PUNCT
ap-952	15	27	�	�	PROPN
ap-952	15	28	stock	stock	NOUN
ap-952	15	29	market	market	NOUN
ap-952	15	30	indicators	indicator	NOUN
ap-952	15	31	.	.	PUNCT
ap-952	16	1	the	the	DET
ap-952	16	2	currency	currency	NOUN
ap-952	16	3	conversion	conversion	NOUN
ap-952	16	4	between	between	ADP
ap-952	16	5	eur	eur	PROPN
ap-952	16	6	,	,	PUNCT
ap-952	16	7	sek	sek	PROPN
ap-952	16	8	,	,	PUNCT
ap-952	16	9	chf	chf	PROPN
ap-952	16	10	,	,	PUNCT
ap-952	16	11	nok	nok	PROPN
ap-952	16	12	and	and	CCONJ
ap-952	16	13	czk	czk	PROPN
ap-952	16	14	is	be	AUX
ap-952	16	15	based	base	VERB
ap-952	16	16	on	on	ADP
ap-952	16	17	the	the	DET
ap-952	16	18	exchange	exchange	NOUN
ap-952	16	19	rate	rate	NOUN
ap-952	16	20	issued	issue	VERB
ap-952	16	21	by	by	ADP
ap-952	16	22	the	the	DET
ap-952	16	23	czech	czech	PROPN
ap-952	16	24	national	national	PROPN
ap-952	16	25	bank	bank	PROPN
ap-952	16	26	.	.	PUNCT
ap-952	17	1	3.1	3.1	NUM
ap-952	17	2	profitability	profitability	NOUN
ap-952	17	3	indicators	indicator	NOUN
ap-952	17	4	the	the	DET
ap-952	17	5	following	follow	VERB
ap-952	17	6	ratios	ratio	NOUN
ap-952	17	7	were	be	AUX
ap-952	17	8	used	use	VERB
ap-952	17	9	[	[	PUNCT
ap-952	17	10	2	2	NUM
ap-952	17	11	]	]	PUNCT
ap-952	17	12	:	:	PUNCT
ap-952	17	13	�	�	PROPN
ap-952	17	14	roa	roa	PROPN
ap-952	17	15	–	–	PUNCT
ap-952	17	16	return	return	NOUN
ap-952	17	17	on	on	ADP
ap-952	17	18	assets	asset	NOUN
ap-952	17	19	,	,	PUNCT
ap-952	17	20	�	�	PROPN
ap-952	17	21	roe	roe	PROPN
ap-952	17	22	–	–	PUNCT
ap-952	17	23	return	return	NOUN
ap-952	17	24	on	on	ADP
ap-952	17	25	equity	equity	NOUN
ap-952	17	26	,	,	PUNCT
ap-952	17	27	�	�	PROPN
ap-952	17	28	ros	ros	PROPN
ap-952	17	29	–	–	PUNCT
ap-952	17	30	return	return	VERB
ap-952	17	31	on	on	ADP
ap-952	17	32	sales	sale	NOUN
ap-952	17	33	.	.	PUNCT
ap-952	18	1	each	each	PRON
ap-952	18	2	of	of	ADP
ap-952	18	3	these	these	PRON
ap-952	18	4	was	be	AUX
ap-952	18	5	calculated	calculate	VERB
ap-952	18	6	in	in	ADP
ap-952	18	7	two	two	NUM
ap-952	18	8	variants	variant	NOUN
ap-952	18	9	,	,	PUNCT
ap-952	18	10	one	one	NUM
ap-952	18	11	using	use	VERB
ap-952	18	12	ebit	ebit	NOUN
ap-952	18	13	and	and	CCONJ
ap-952	18	14	the	the	DET
ap-952	18	15	other	other	ADJ
ap-952	18	16	using	use	VERB
ap-952	18	17	net	net	ADJ
ap-952	18	18	profit	profit	NOUN
ap-952	18	19	in	in	ADP
ap-952	18	20	the	the	DET
ap-952	18	21	numerator	numerator	NOUN
ap-952	18	22	.	.	PUNCT
ap-952	19	1	3.2	3.2	NUM
ap-952	19	2	altman	altman	PROPN
ap-952	19	3	’s	’s	PART
ap-952	19	4	z	z	NOUN
ap-952	19	5	-	-	NOUN
ap-952	19	6	score	score	VERB
ap-952	19	7	the	the	DET
ap-952	19	8	edward	edward	PROPN
ap-952	19	9	altman	altman	PROPN
ap-952	19	10	z	z	PROPN
ap-952	19	11	-	-	PUNCT
ap-952	19	12	score	score	NOUN
ap-952	19	13	formula	formula	NOUN
ap-952	19	14	for	for	ADP
ap-952	19	15	predicting	predict	VERB
ap-952	19	16	bankruptcy	bankruptcy	NOUN
ap-952	19	17	is	be	AUX
ap-952	19	18	a	a	DET
ap-952	19	19	multivariate	multivariate	NOUN
ap-952	19	20	formula	formula	NOUN
ap-952	19	21	for	for	ADP
ap-952	19	22	measuring	measure	VERB
ap-952	19	23	the	the	DET
ap-952	19	24	financial	financial	ADJ
ap-952	19	25	health	health	NOUN
ap-952	19	26	of	of	ADP
ap-952	19	27	a	a	DET
ap-952	19	28	company	company	NOUN
ap-952	19	29	.	.	PUNCT
ap-952	20	1	it	it	PRON
ap-952	20	2	is	be	AUX
ap-952	20	3	a	a	DET
ap-952	20	4	powerful	powerful	ADJ
ap-952	20	5	diagnostic	diagnostic	ADJ
ap-952	20	6	tool	tool	NOUN
ap-952	20	7	forecasting	forecast	VERB
ap-952	20	8	the	the	DET
ap-952	20	9	probability	probability	NOUN
ap-952	20	10	that	that	SCONJ
ap-952	20	11	the	the	DET
ap-952	20	12	company	company	NOUN
ap-952	20	13	will	will	AUX
ap-952	20	14	go	go	VERB
ap-952	20	15	into	into	ADP
ap-952	20	16	bankruptcy	bankruptcy	NOUN
ap-952	20	17	.	.	PUNCT
ap-952	21	1	the	the	DET
ap-952	21	2	z	z	NOUN
ap-952	21	3	-	-	PUNCT
ap-952	21	4	score	score	NOUN
ap-952	21	5	bankruptcy	bankruptcy	NOUN
ap-952	21	6	predictor	predictor	NOUN
ap-952	21	7	combines	combine	VERB
ap-952	21	8	five	five	NUM
ap-952	21	9	common	common	ADJ
ap-952	21	10	business	business	NOUN
ap-952	21	11	ratios	ratio	NOUN
ap-952	21	12	,	,	PUNCT
ap-952	21	13	using	use	VERB
ap-952	21	14	a	a	DET
ap-952	21	15	weighting	weighting	NOUN
ap-952	21	16	system	system	NOUN
ap-952	21	17	calculated	calculate	VERB
ap-952	21	18	by	by	ADP
ap-952	21	19	altman	altman	PROPN
ap-952	21	20	to	to	PART
ap-952	21	21	determine	determine	VERB
ap-952	21	22	the	the	DET
ap-952	21	23	likelihood	likelihood	NOUN
ap-952	21	24	of	of	ADP
ap-952	21	25	a	a	DET
ap-952	21	26	company	company	NOUN
ap-952	21	27	going	go	VERB
ap-952	21	28	bankrupt	bankrupt	ADJ
ap-952	21	29	.	.	PUNCT
ap-952	22	1	z	z	X
ap-952	23	1	a	a	DET
ap-952	23	2	b	b	X
ap-952	23	3	c	c	NOUN
ap-952	23	4	d	d	X
ap-952	23	5	e	e	X
ap-952	23	6	�	�	PROPN
ap-952	23	7	�	�	PROPN
ap-952	23	8	�	�	PROPN
ap-952	23	9	�	�	PROPN
ap-952	23	10	�	�	PROPN
ap-952	23	11	�	�	PROPN
ap-952	23	12	�	�	PROPN
ap-952	23	13	�	�	PROPN
ap-952	23	14	�	�	PROPN
ap-952	23	15	�	�	PROPN
ap-952	23	16	12	12	NUM
ap-952	23	17	14	14	NUM
ap-952	23	18	33	33	NUM
ap-952	23	19	06	06	NUM
ap-952	23	20	0999	0999	NUM
ap-952	23	21	.	.	PUNCT
ap-952	23	22	.	.	PUNCT
ap-952	23	23	.	.	PUNCT
ap-952	23	24	.	.	PUNCT
ap-952	23	25	.	.	PUNCT
ap-952	24	1	(	(	PUNCT
ap-952	24	2	1	1	X
ap-952	24	3	)	)	PUNCT
ap-952	24	4	a	a	DET
ap-952	24	5	�	�	PROPN
ap-952	24	6	working	work	VERB
ap-952	24	7	capital	capital	NOUN
ap-952	24	8	/	/	SYM
ap-952	24	9	total	total	ADJ
ap-952	24	10	assets	asset	NOUN
ap-952	24	11	,	,	PUNCT
ap-952	24	12	b	b	PROPN
ap-952	24	13	�	�	PROPN
ap-952	24	14	retained	retain	VERB
ap-952	24	15	earnings	earning	NOUN
ap-952	24	16	/	/	SYM
ap-952	24	17	total	total	ADJ
ap-952	24	18	assets	asset	NOUN
ap-952	24	19	,	,	PUNCT
ap-952	24	20	c	c	PROPN
ap-952	24	21	�	�	PROPN
ap-952	24	22	ebit	ebit	PROPN
ap-952	24	23	/	/	SYM
ap-952	24	24	total	total	ADJ
ap-952	24	25	assets	asset	NOUN
ap-952	24	26	,	,	PUNCT
ap-952	24	27	d	d	PROPN
ap-952	24	28	�	�	PROPN
ap-952	24	29	market	market	NOUN
ap-952	24	30	value	value	NOUN
ap-952	24	31	of	of	ADP
ap-952	24	32	equity	equity	NOUN
ap-952	24	33	/	/	SYM
ap-952	24	34	book	book	NOUN
ap-952	24	35	value	value	NOUN
ap-952	24	36	of	of	ADP
ap-952	24	37	liabilities	liability	NOUN
ap-952	24	38	,	,	PUNCT
ap-952	24	39	e	e	PROPN
ap-952	24	40	�	�	PROPN
ap-952	24	41	sales	sale	NOUN
ap-952	24	42	/	/	SYM
ap-952	24	43	total	total	ADJ
ap-952	24	44	assets	asset	NOUN
ap-952	24	45	.	.	PUNCT
ap-952	25	1	if	if	SCONJ
ap-952	25	2	the	the	DET
ap-952	25	3	score	score	NOUN
ap-952	25	4	is	be	AUX
ap-952	25	5	3.0	3.0	NUM
ap-952	25	6	or	or	CCONJ
ap-952	25	7	above	above	ADV
ap-952	25	8	–	–	PUNCT
ap-952	25	9	bankruptcy	bankruptcy	NOUN
ap-952	25	10	is	be	AUX
ap-952	25	11	not	not	PART
ap-952	25	12	likely	likely	ADJ
ap-952	25	13	.	.	PUNCT
ap-952	26	1	if	if	SCONJ
ap-952	26	2	the	the	DET
ap-952	26	3	score	score	NOUN
ap-952	26	4	is	be	AUX
ap-952	26	5	1.8	1.8	NUM
ap-952	26	6	or	or	CCONJ
ap-952	26	7	less	less	ADJ
ap-952	26	8	–	–	PUNCT
ap-952	26	9	bankruptcy	bankruptcy	NOUN
ap-952	26	10	is	be	AUX
ap-952	26	11	likely	likely	ADJ
ap-952	26	12	.	.	PUNCT
ap-952	27	1	a	a	DET
ap-952	27	2	score	score	NOUN
ap-952	27	3	between	between	ADP
ap-952	27	4	1.8	1.8	NUM
ap-952	27	5	and	and	CCONJ
ap-952	27	6	3.0	3.0	NUM
ap-952	27	7	is	be	AUX
ap-952	27	8	the	the	DET
ap-952	27	9	gray	gray	ADJ
ap-952	27	10	area	area	NOUN
ap-952	27	11	[	[	X
ap-952	27	12	5	5	NUM
ap-952	27	13	]	]	PUNCT
ap-952	27	14	.	.	PUNCT
ap-952	28	1	14	14	NUM
ap-952	29	1	©	©	PROPN
ap-952	29	2	czech	czech	PROPN
ap-952	29	3	technical	technical	PROPN
ap-952	29	4	university	university	PROPN
ap-952	29	5	publishing	publishing	NOUN
ap-952	29	6	house	house	NOUN
ap-952	29	7	http://ctn.cvut.cz/ap/	http://ctn.cvut.cz/ap/	PROPN
ap-952	29	8	acta	acta	PROPN
ap-952	29	9	polytechnica	polytechnica	PROPN
ap-952	29	10	vol	vol	NOUN
ap-952	29	11	.	.	PUNCT
ap-952	30	1	47	47	NUM
ap-952	30	2	no	no	NOUN
ap-952	30	3	.	.	PUNCT
ap-952	31	1	4–5/2007	4–5/2007	NUM
ap-952	31	2	valuation	valuation	NOUN
ap-952	31	3	of	of	ADP
ap-952	31	4	companies	company	NOUN
ap-952	31	5	jiří	jiří	NOUN
ap-952	31	6	lisník	lisník	VERB
ap-952	31	7	this	this	DET
ap-952	31	8	paper	paper	NOUN
ap-952	31	9	deals	deal	NOUN
ap-952	31	10	with	with	ADP
ap-952	31	11	valuating	valuating	NOUN
ap-952	31	12	telecommunications	telecommunication	NOUN
ap-952	31	13	companies	company	NOUN
ap-952	31	14	.	.	PUNCT
ap-952	32	1	six	six	NUM
ap-952	32	2	groups	group	NOUN
ap-952	32	3	operating	operate	VERB
ap-952	32	4	mainly	mainly	ADV
ap-952	32	5	in	in	ADP
ap-952	32	6	the	the	DET
ap-952	32	7	european	european	ADJ
ap-952	32	8	countries	country	NOUN
ap-952	32	9	are	be	AUX
ap-952	32	10	compared	compare	VERB
ap-952	32	11	.	.	PUNCT
ap-952	33	1	the	the	DET
ap-952	33	2	comparison	comparison	NOUN
ap-952	33	3	is	be	AUX
ap-952	33	4	based	base	VERB
ap-952	33	5	on	on	ADP
ap-952	33	6	financial	financial	ADJ
ap-952	33	7	and	and	CCONJ
ap-952	33	8	techno	techno	NOUN
ap-952	33	9	-	-	PUNCT
ap-952	33	10	economic	economic	ADJ
ap-952	33	11	indicators	indicator	NOUN
ap-952	33	12	.	.	PUNCT
ap-952	34	1	these	these	DET
ap-952	34	2	indicators	indicator	NOUN
ap-952	34	3	are	be	AUX
ap-952	34	4	used	use	VERB
ap-952	34	5	to	to	PART
ap-952	34	6	value	value	VERB
ap-952	34	7	the	the	DET
ap-952	34	8	company	company	NOUN
ap-952	34	9	by	by	ADP
ap-952	34	10	the	the	DET
ap-952	34	11	dcf	dcf	PROPN
ap-952	34	12	method	method	NOUN
ap-952	34	13	.	.	PUNCT
ap-952	35	1	however	however	ADV
ap-952	35	2	,	,	PUNCT
ap-952	35	3	many	many	ADJ
ap-952	35	4	companies	company	NOUN
ap-952	35	5	have	have	VERB
ap-952	35	6	only	only	ADV
ap-952	35	7	a	a	DET
ap-952	35	8	very	very	ADV
ap-952	35	9	short	short	ADJ
ap-952	35	10	history	history	NOUN
ap-952	35	11	.	.	PUNCT
ap-952	36	1	to	to	PART
ap-952	36	2	value	value	VERB
ap-952	36	3	these	these	PRON
ap-952	36	4	,	,	PUNCT
ap-952	36	5	classical	classical	ADJ
ap-952	36	6	methods	method	NOUN
ap-952	36	7	like	like	ADP
ap-952	36	8	dcf	dcf	PROPN
ap-952	36	9	or	or	CCONJ
ap-952	36	10	real	real	ADJ
ap-952	36	11	options	option	NOUN
ap-952	36	12	are	be	AUX
ap-952	36	13	not	not	PART
ap-952	36	14	suitable	suitable	ADJ
ap-952	36	15	.	.	PUNCT
ap-952	37	1	in	in	ADP
ap-952	37	2	this	this	DET
ap-952	37	3	case	case	NOUN
ap-952	37	4	,	,	PUNCT
ap-952	37	5	methods	method	NOUN
ap-952	37	6	based	base	VERB
ap-952	37	7	on	on	ADP
ap-952	37	8	market	market	NOUN
ap-952	37	9	confrontation	confrontation	NOUN
ap-952	37	10	seem	seem	VERB
ap-952	37	11	to	to	PART
ap-952	37	12	be	be	AUX
ap-952	37	13	efficient	efficient	ADJ
ap-952	37	14	.	.	PUNCT
ap-952	38	1	a	a	DET
ap-952	38	2	further	further	ADJ
ap-952	38	3	exploration	exploration	NOUN
ap-952	38	4	of	of	ADP
ap-952	38	5	these	these	DET
ap-952	38	6	methods	method	NOUN
ap-952	38	7	is	be	AUX
ap-952	38	8	also	also	ADV
ap-952	38	9	the	the	DET
ap-952	38	10	topic	topic	NOUN
ap-952	38	11	of	of	ADP
ap-952	38	12	my	my	PRON
ap-952	38	13	graduate	graduate	NOUN
ap-952	38	14	studies	study	NOUN
ap-952	38	15	.	.	PUNCT
ap-952	39	1	keywords	keyword	NOUN
ap-952	39	2	:	:	PUNCT
ap-952	39	3	valuation	valuation	NOUN
ap-952	39	4	,	,	PUNCT
ap-952	39	5	companies	company	NOUN
ap-952	39	6	,	,	PUNCT
ap-952	39	7	dcf	dcf	PROPN
ap-952	39	8	,	,	PUNCT
ap-952	39	9	indicator	indicator	NOUN
ap-952	39	10	,	,	PUNCT
ap-952	39	11	market	market	NOUN
ap-952	39	12	confrontation	confrontation	NOUN
ap-952	39	13	.	.	PUNCT
ap-952	40	1	in	in	ADP
ap-952	40	2	this	this	DET
ap-952	40	3	case	case	NOUN
ap-952	40	4	,	,	PUNCT
ap-952	40	5	the	the	DET
ap-952	40	6	use	use	NOUN
ap-952	40	7	of	of	ADP
ap-952	40	8	the	the	DET
ap-952	40	9	z	z	NOUN
ap-952	40	10	-	-	PUNCT
ap-952	40	11	score	score	NOUN
ap-952	40	12	formula	formula	NOUN
ap-952	40	13	is	be	AUX
ap-952	40	14	disputable	disputable	ADJ
ap-952	40	15	,	,	PUNCT
ap-952	40	16	because	because	SCONJ
ap-952	40	17	this	this	DET
ap-952	40	18	model	model	NOUN
ap-952	40	19	was	be	AUX
ap-952	40	20	created	create	VERB
ap-952	40	21	in	in	ADP
ap-952	40	22	1968	1968	NUM
ap-952	40	23	for	for	ADP
ap-952	40	24	the	the	DET
ap-952	40	25	american	american	ADJ
ap-952	40	26	companies	company	NOUN
ap-952	40	27	.	.	PUNCT
ap-952	41	1	i	i	PRON
ap-952	41	2	use	use	VERB
ap-952	41	3	it	it	PRON
ap-952	41	4	only	only	ADV
ap-952	41	5	to	to	PART
ap-952	41	6	compare	compare	VERB
ap-952	41	7	the	the	DET
ap-952	41	8	groups	group	NOUN
ap-952	41	9	,	,	PUNCT
ap-952	41	10	not	not	PART
ap-952	41	11	to	to	ADP
ap-952	41	12	predicting	predict	VERB
ap-952	41	13	bankruptcy	bankruptcy	NOUN
ap-952	41	14	.	.	PUNCT
ap-952	42	1	the	the	DET
ap-952	42	2	highest	high	ADJ
ap-952	42	3	score	score	NOUN
ap-952	42	4	is	be	AUX
ap-952	42	5	achieved	achieve	VERB
ap-952	42	6	by	by	ADP
ap-952	42	7	swisscom	swisscom	PROPN
ap-952	42	8	.	.	PUNCT
ap-952	43	1	another	another	DET
ap-952	43	2	interesting	interesting	ADJ
ap-952	43	3	result	result	NOUN
ap-952	43	4	is	be	AUX
ap-952	43	5	displayed	display	VERB
ap-952	43	6	by	by	ADP
ap-952	43	7	ct	ct	NUM
ap-952	43	8	for	for	ADP
ap-952	43	9	years	year	NOUN
ap-952	43	10	2004–2005	2004–2005	NUM
ap-952	43	11	,	,	PUNCT
ap-952	43	12	due	due	ADP
ap-952	43	13	to	to	ADP
ap-952	43	14	the	the	DET
ap-952	43	15	sale	sale	NOUN
ap-952	43	16	of	of	ADP
ap-952	43	17	unneeded	unneeded	ADJ
ap-952	43	18	assets	asset	NOUN
ap-952	43	19	(	(	PUNCT
ap-952	43	20	especially	especially	ADV
ap-952	43	21	phone	phone	NOUN
ap-952	43	22	boxes	box	NOUN
ap-952	43	23	)	)	PUNCT
ap-952	43	24	.	.	PUNCT
ap-952	44	1	3.3	3.3	NUM
ap-952	44	2	stock	stock	NOUN
ap-952	44	3	market	market	NOUN
ap-952	44	4	indicators	indicator	NOUN
ap-952	44	5	each	each	PRON
ap-952	44	6	of	of	ADP
ap-952	44	7	the	the	DET
ap-952	44	8	selected	select	VERB
ap-952	44	9	companies	company	NOUN
ap-952	44	10	is	be	AUX
ap-952	44	11	listed	list	VERB
ap-952	44	12	on	on	ADP
ap-952	44	13	a	a	DET
ap-952	44	14	public	public	ADJ
ap-952	44	15	stock	stock	NOUN
ap-952	44	16	exchange	exchange	NOUN
ap-952	44	17	.	.	PUNCT
ap-952	45	1	3.3.1	3.3.1	NUM
ap-952	45	2	earnings	earning	NOUN
ap-952	45	3	per	per	ADP
ap-952	45	4	share	share	NOUN
ap-952	45	5	the	the	DET
ap-952	45	6	eps	eps	PROPN
ap-952	45	7	indicator	indicator	NOUN
ap-952	45	8	informs	inform	VERB
ap-952	45	9	shareholders	shareholder	NOUN
ap-952	45	10	about	about	ADP
ap-952	45	11	the	the	DET
ap-952	45	12	net	net	ADJ
ap-952	45	13	profit	profit	NOUN
ap-952	45	14	that	that	PRON
ap-952	45	15	can	can	AUX
ap-952	45	16	be	be	AUX
ap-952	45	17	paid	pay	VERB
ap-952	45	18	as	as	ADP
ap-952	45	19	a	a	DET
ap-952	45	20	dividend	dividend	NOUN
ap-952	45	21	.	.	PUNCT
ap-952	46	1	eps	eps	PROPN
ap-952	46	2	�	�	PROPN
ap-952	46	3	net	net	ADJ
ap-952	46	4	profit	profit	NOUN
ap-952	46	5	number	number	NOUN
ap-952	46	6	of	of	ADP
ap-952	46	7	shares	share	NOUN
ap-952	46	8	(	(	PUNCT
ap-952	46	9	2	2	NUM
ap-952	46	10	)	)	PUNCT
ap-952	46	11	3.3.2	3.3.2	NUM
ap-952	46	12	price	price	NOUN
ap-952	46	13	to	to	ADP
ap-952	46	14	earnings	earning	NOUN
ap-952	46	15	ratio	ratio	NOUN
ap-952	46	16	the	the	DET
ap-952	46	17	p	p	X
ap-952	46	18	/	/	SYM
ap-952	46	19	e	e	NOUN
ap-952	46	20	ratio	ratio	NOUN
ap-952	46	21	of	of	ADP
ap-952	46	22	a	a	DET
ap-952	46	23	stock	stock	NOUN
ap-952	46	24	(	(	PUNCT
ap-952	46	25	also	also	ADV
ap-952	46	26	called	call	VERB
ap-952	46	27	its	its	PRON
ap-952	46	28	„	„	PUNCT
ap-952	46	29	earnings	earning	NOUN
ap-952	46	30	multiple	multiple	NOUN
ap-952	46	31	“	"	PUNCT
ap-952	46	32	,	,	PUNCT
ap-952	46	33	or	or	CCONJ
ap-952	46	34	simply	simply	ADV
ap-952	46	35	„	„	PUNCT
ap-952	46	36	multiple	multiple	ADJ
ap-952	46	37	“	"	PUNCT
ap-952	46	38	,	,	PUNCT
ap-952	46	39	„	„	PUNCT
ap-952	46	40	p	p	X
ap-952	46	41	/	/	SYM
ap-952	46	42	e	e	NOUN
ap-952	46	43	“	"	PUNCT
ap-952	46	44	,	,	PUNCT
ap-952	46	45	or	or	CCONJ
ap-952	46	46	„	„	PUNCT
ap-952	46	47	pe	pe	X
ap-952	46	48	“	"	PUNCT
ap-952	46	49	)	)	PUNCT
ap-952	46	50	is	be	AUX
ap-952	46	51	used	use	VERB
ap-952	46	52	to	to	PART
ap-952	46	53	measure	measure	VERB
ap-952	46	54	how	how	SCONJ
ap-952	46	55	cheap	cheap	ADJ
ap-952	46	56	or	or	CCONJ
ap-952	46	57	expensive	expensive	ADJ
ap-952	46	58	its	its	PRON
ap-952	46	59	share	share	NOUN
ap-952	46	60	price	price	NOUN
ap-952	46	61	is	be	AUX
ap-952	46	62	.	.	PUNCT
ap-952	47	1	p	p	X
ap-952	47	2	e	e	PROPN
ap-952	47	3	�	�	PROPN
ap-952	47	4	price	price	NOUN
ap-952	47	5	per	per	ADP
ap-952	47	6	share	share	NOUN
ap-952	47	7	earnings	earning	NOUN
ap-952	47	8	per	per	ADP
ap-952	47	9	share	share	NOUN
ap-952	47	10	(	(	PUNCT
ap-952	47	11	3	3	NUM
ap-952	47	12	)	)	PUNCT
ap-952	47	13	3.3.3	3.3.3	NUM
ap-952	47	14	book	book	NOUN
ap-952	47	15	value	value	NOUN
ap-952	47	16	the	the	DET
ap-952	47	17	book	book	NOUN
ap-952	47	18	value	value	NOUN
ap-952	47	19	is	be	AUX
ap-952	47	20	the	the	DET
ap-952	47	21	shareholders	shareholder	NOUN
ap-952	47	22	’	'	PUNCT
ap-952	47	23	equity	equity	NOUN
ap-952	47	24	of	of	ADP
ap-952	47	25	a	a	DET
ap-952	47	26	business	business	NOUN
ap-952	47	27	(	(	PUNCT
ap-952	47	28	assets	asset	NOUN
ap-952	47	29	–	–	PUNCT
ap-952	47	30	liabilities	liability	NOUN
ap-952	47	31	)	)	PUNCT
ap-952	47	32	,	,	PUNCT
ap-952	47	33	as	as	SCONJ
ap-952	47	34	measured	measure	VERB
ap-952	47	35	by	by	ADP
ap-952	47	36	the	the	DET
ap-952	47	37	accounting	accounting	NOUN
ap-952	47	38	‘	'	PUNCT
ap-952	47	39	books	book	NOUN
ap-952	47	40	’	'	PUNCT
ap-952	47	41	.	.	PUNCT
ap-952	48	1	bv	bv	PROPN
ap-952	48	2	�	�	PROPN
ap-952	48	3	equity	equity	NOUN
ap-952	48	4	number	number	NOUN
ap-952	48	5	of	of	ADP
ap-952	48	6	shares	share	NOUN
ap-952	48	7	(	(	PUNCT
ap-952	48	8	4	4	NUM
ap-952	48	9	)	)	PUNCT
ap-952	48	10	©	©	PROPN
ap-952	48	11	czech	czech	PROPN
ap-952	48	12	technical	technical	PROPN
ap-952	48	13	university	university	PROPN
ap-952	48	14	publishing	publishing	NOUN
ap-952	48	15	house	house	NOUN
ap-952	48	16	http://ctn.cvut.cz/ap/	http://ctn.cvut.cz/ap/	PROPN
ap-952	48	17	15	15	NUM
ap-952	48	18	acta	acta	PROPN
ap-952	48	19	polytechnica	polytechnica	PROPN
ap-952	48	20	vol	vol	NOUN
ap-952	48	21	.	.	PUNCT
ap-952	49	1	47	47	NUM
ap-952	49	2	no	no	NOUN
ap-952	49	3	.	.	PUNCT
ap-952	50	1	4–5/2007	4–5/2007	NUM
ap-952	50	2	year	year	NOUN
ap-952	50	3	2002	2002	NUM
ap-952	50	4	2003	2003	NUM
ap-952	50	5	2004	2004	NUM
ap-952	50	6	2005	2005	NUM
ap-952	50	7	ct	ct	NUM
ap-952	50	8	1.979	1.979	NUM
ap-952	50	9	1.202	1.202	NUM
ap-952	50	10	2.480	2.480	NUM
ap-952	50	11	4.586	4.586	NUM
ap-952	50	12	ote	ote	PROPN
ap-952	50	13	1.789	1.789	NUM
ap-952	50	14	1.642	1.642	NUM
ap-952	50	15	1.659	1.659	NUM
ap-952	50	16	1.586	1.586	NUM
ap-952	50	17	swisscom	swisscom	PROPN
ap-952	50	18	3.576	3.576	NUM
ap-952	50	19	4.022	4.022	NUM
ap-952	50	20	4.906	4.906	NUM
ap-952	50	21	4.692	4.692	NUM
ap-952	50	22	ta	ta	ADP
ap-952	50	23	0.793	0.793	NUM
ap-952	50	24	1.311	1.311	NUM
ap-952	50	25	1.841	1.841	NUM
ap-952	50	26	1.950	1.950	NUM
ap-952	50	27	telenor	telenor	NOUN
ap-952	50	28	1.119	1.119	NUM
ap-952	50	29	2.109	2.109	NUM
ap-952	50	30	2.380	2.380	NUM
ap-952	50	31	1.441	1.441	NUM
ap-952	50	32	teliasonera	teliasonera	NOUN
ap-952	50	33	1.204	1.204	NUM
ap-952	50	34	2.334	2.334	NUM
ap-952	50	35	2.763	2.763	NUM
ap-952	50	36	2.735	2.735	NUM
ap-952	50	37	table	table	NOUN
ap-952	50	38	1	1	NUM
ap-952	50	39	:	:	PUNCT
ap-952	50	40	altman	altman	PROPN
ap-952	50	41	’s	’s	PART
ap-952	50	42	z	z	NOUN
ap-952	50	43	-	-	PUNCT
ap-952	50	44	score	score	NOUN
ap-952	50	45	0,0	0,0	NUM
ap-952	50	46	0,5	0,5	NUM
ap-952	50	47	1,0	1,0	NUM
ap-952	50	48	1,5	1,5	NUM
ap-952	50	49	2,0	2,0	NUM
ap-952	50	50	2,5	2,5	NUM
ap-952	50	51	3,0	3,0	NUM
ap-952	50	52	3,5	3,5	NUM
ap-952	50	53	4,0	4,0	NUM
ap-952	50	54	4,5	4,5	NUM
ap-952	50	55	5,0	5,0	NUM
ap-952	50	56	2002	2002	NUM
ap-952	50	57	2003	2003	NUM
ap-952	50	58	2004	2004	NUM
ap-952	50	59	2005	2005	NUM
ap-952	50	60	year	year	NOUN
ap-952	50	61	z	z	NOUN
ap-952	50	62	-	-	PUNCT
ap-952	50	63	score	score	NOUN
ap-952	50	64	ct	ct	PROPN
ap-952	50	65	ote	ote	NUM
ap-952	50	66	swisscom	swisscom	X
ap-952	50	67	ta	ta	AUX
ap-952	50	68	telenor	telenor	VERB
ap-952	50	69	ts	ts	ADP
ap-952	50	70	fig	fig	NOUN
ap-952	50	71	.	.	PUNCT
ap-952	51	1	1	1	NUM
ap-952	51	2	:	:	PUNCT
ap-952	51	3	altman	altman	PROPN
ap-952	51	4	’s	’s	PART
ap-952	51	5	z	z	NOUN
ap-952	51	6	-	-	PUNCT
ap-952	51	7	score	score	NOUN
ap-952	51	8	year	year	NOUN
ap-952	51	9	2002	2002	NUM
ap-952	51	10	2003	2003	NUM
ap-952	51	11	2004	2004	NUM
ap-952	51	12	2005	2005	NUM
ap-952	51	13	ct	ct	NUM
ap-952	51	14	12.96	12.96	NUM
ap-952	51	15	-5.72	-5.72	PROPN
ap-952	51	16	17.27	17.27	NUM
ap-952	51	17	19.40	19.40	NUM
ap-952	51	18	ote	ote	PROPN
ap-952	51	19	22.27	22.27	NUM
ap-952	51	20	27.15	27.15	NUM
ap-952	51	21	10.65	10.65	NUM
ap-952	51	22	�	�	PROPN
ap-952	51	23	12.83	12.83	NUM
ap-952	51	24	swisscom	swisscom	NOUN
ap-952	52	1	490.79	490.79	NUM
ap-952	52	2	492.95	492.95	NUM
ap-952	52	3	475.41	475.41	NUM
ap-952	52	4	613.48	613.48	NUM
ap-952	52	5	ta	ta	ADP
ap-952	52	6	0.81	0.81	NUM
ap-952	52	7	8.70	8.70	NUM
ap-952	52	8	13.85	13.85	NUM
ap-952	52	9	24.20	24.20	NUM
ap-952	52	10	telenor	telenor	NOUN
ap-952	52	11	�	�	PROPN
ap-952	52	12	10.36	10.36	NUM
ap-952	52	13	9.73	9.73	NUM
ap-952	52	14	11.33	11.33	NUM
ap-952	52	15	16.24	16.24	NUM
ap-952	52	16	teliasonera	teliasonera	NOUN
ap-952	52	17	�	�	PROPN
ap-952	52	18	6.05	6.05	NUM
ap-952	52	19	6.93	6.93	NUM
ap-952	52	20	9.36	9.36	NUM
ap-952	52	21	8.05	8.05	NUM
ap-952	52	22	table	table	NOUN
ap-952	52	23	2	2	NUM
ap-952	52	24	:	:	PUNCT
ap-952	52	25	earningss	earningss	ADJ
ap-952	52	26	per	per	ADP
ap-952	52	27	share	share	NOUN
ap-952	52	28	–	–	PUNCT
ap-952	52	29	eps	eps	PROPN
ap-952	52	30	(	(	PUNCT
ap-952	52	31	in	in	ADP
ap-952	52	32	czk	czk	NOUN
ap-952	52	33	)	)	PUNCT
ap-952	52	34	-30	-30	PROPN
ap-952	53	1	czk	czk	PROPN
ap-952	53	2	-20	-20	PUNCT
ap-952	53	3	czk	czk	X
ap-952	53	4	-10	-10	PUNCT
ap-952	53	5	czk	czk	NOUN
ap-952	53	6	0	0	NUM
ap-952	53	7	czk	czk	X
ap-952	53	8	10	10	NUM
ap-952	53	9	czk	czk	NOUN
ap-952	53	10	20	20	NUM
ap-952	53	11	czk	czk	NOUN
ap-952	53	12	30	30	NUM
ap-952	53	13	czk	czk	NOUN
ap-952	53	14	2002	2002	NUM
ap-952	53	15	2003	2003	NUM
ap-952	53	16	2004	2004	NUM
ap-952	53	17	2005	2005	NUM
ap-952	53	18	year	year	NOUN
ap-952	53	19	eps	eps	PROPN
ap-952	53	20	ct	ct	PROPN
ap-952	53	21	ote	ote	PROPN
ap-952	53	22	swisscom	swisscom	X
ap-952	53	23	ta	ta	AUX
ap-952	53	24	telenor	telenor	VERB
ap-952	53	25	ts	ts	ADP
ap-952	53	26	fig	fig	NOUN
ap-952	53	27	.	.	PUNCT
ap-952	54	1	2	2	NUM
ap-952	54	2	:	:	PUNCT
ap-952	54	3	eps	eps	PROPN
ap-952	54	4	(	(	PUNCT
ap-952	54	5	for	for	ADP
ap-952	54	6	better	well	ADJ
ap-952	54	7	lucidity	lucidity	NOUN
ap-952	54	8	the	the	DET
ap-952	54	9	values	value	NOUN
ap-952	54	10	are	be	AUX
ap-952	54	11	shown	show	VERB
ap-952	54	12	only	only	ADV
ap-952	54	13	from	from	ADP
ap-952	54	14	�	�	PROPN
ap-952	54	15	30	30	NUM
ap-952	54	16	30	30	NUM
ap-952	54	17	;	;	PUNCT
ap-952	54	18	)	)	PUNCT
ap-952	54	19	year	year	NOUN
ap-952	54	20	2002	2002	NUM
ap-952	54	21	2003	2003	NUM
ap-952	54	22	2004	2004	NUM
ap-952	54	23	2005	2005	NUM
ap-952	54	24	ct	ct	PROPN
ap-952	54	25	18.88	18.88	NUM
ap-952	54	26	-50.94	-50.94	PROPN
ap-952	54	27	21.38	21.38	NUM
ap-952	54	28	27.04	27.04	NUM
ap-952	54	29	ote	ote	PROPN
ap-952	54	30	14.90	14.90	NUM
ap-952	54	31	12.51	12.51	NUM
ap-952	54	32	37.83	37.83	NUM
ap-952	54	33	�	�	PROPN
ap-952	54	34	40.70	40.70	NUM
ap-952	54	35	swisscom	swisscom	NOUN
ap-952	54	36	17.76	17.76	NUM
ap-952	54	37	17.24	17.24	NUM
ap-952	54	38	18.61	18.61	NUM
ap-952	54	39	12.61	12.61	NUM
ap-952	54	40	ta	ta	ADP
ap-952	54	41	377.28	377.28	NUM
ap-952	54	42	36.50	36.50	NUM
ap-952	54	43	30.69	30.69	NUM
ap-952	54	44	22.77	22.77	NUM
ap-952	54	45	telenor	telenor	NOUN
ap-952	54	46	�	�	PROPN
ap-952	54	47	11.12	11.12	NUM
ap-952	54	48	17.21	17.21	NUM
ap-952	54	49	17.96	17.96	NUM
ap-952	54	50	14.82	14.82	NUM
ap-952	54	51	teliasonera	teliasonera	NOUN
ap-952	54	52	�	�	PROPN
ap-952	54	53	18.73	18.73	NUM
ap-952	54	54	19.36	19.36	NUM
ap-952	54	55	14.35	14.35	NUM
ap-952	54	56	16.39	16.39	NUM
ap-952	54	57	table	table	NOUN
ap-952	54	58	3	3	NUM
ap-952	54	59	:	:	PUNCT
ap-952	54	60	price	price	NOUN
ap-952	54	61	tu	tu	PROPN
ap-952	54	62	earnings	earning	NOUN
ap-952	54	63	–	–	PUNCT
ap-952	54	64	p	p	X
ap-952	54	65	/	/	SYM
ap-952	54	66	e	e	NOUN
ap-952	54	67	-60,00	-60,00	X
ap-952	54	68	-40,00	-40,00	PUNCT
ap-952	54	69	-20,00	-20,00	PUNCT
ap-952	55	1	0,00	0,00	PROPN
ap-952	55	2	20,00	20,00	NUM
ap-952	55	3	40,00	40,00	NOUN
ap-952	55	4	60,00	60,00	NUM
ap-952	55	5	2002	2002	NUM
ap-952	55	6	2003	2003	NUM
ap-952	55	7	2004	2004	NUM
ap-952	55	8	2005	2005	NUM
ap-952	55	9	year	year	NOUN
ap-952	55	10	p	p	X
ap-952	55	11	/	/	SYM
ap-952	55	12	e	e	NOUN
ap-952	55	13	ct	ct	PROPN
ap-952	55	14	ote	ote	NUM
ap-952	55	15	swisscom	swisscom	X
ap-952	55	16	ta	ta	AUX
ap-952	55	17	telenor	telenor	VERB
ap-952	55	18	ts	ts	ADP
ap-952	55	19	fig	fig	NOUN
ap-952	55	20	.	.	PUNCT
ap-952	56	1	3	3	NUM
ap-952	56	2	:	:	PUNCT
ap-952	56	3	p	p	X
ap-952	56	4	/	/	SYM
ap-952	56	5	e	e	X
ap-952	56	6	(	(	PUNCT
ap-952	56	7	for	for	ADP
ap-952	56	8	better	well	ADJ
ap-952	56	9	lucidity	lucidity	NOUN
ap-952	56	10	the	the	DET
ap-952	56	11	values	value	NOUN
ap-952	56	12	are	be	AUX
ap-952	56	13	shown	show	VERB
ap-952	56	14	only	only	ADV
ap-952	56	15	from	from	ADP
ap-952	56	16	�	�	PROPN
ap-952	56	17	60	60	NUM
ap-952	56	18	60	60	NUM
ap-952	56	19	;	;	PUNCT
ap-952	56	20	)	)	PUNCT
ap-952	56	21	4	4	NUM
ap-952	56	22	comparison	comparison	NOUN
ap-952	56	23	of	of	ADP
ap-952	56	24	the	the	DET
ap-952	56	25	companies	company	NOUN
ap-952	56	26	in	in	ADP
ap-952	56	27	most	most	ADJ
ap-952	56	28	of	of	ADP
ap-952	56	29	the	the	DET
ap-952	56	30	ratios	ratio	NOUN
ap-952	56	31	used	use	VERB
ap-952	56	32	here	here	ADV
ap-952	56	33	the	the	DET
ap-952	56	34	best	good	ADJ
ap-952	56	35	values	value	NOUN
ap-952	56	36	are	be	AUX
ap-952	56	37	achieved	achieve	VERB
ap-952	56	38	by	by	ADP
ap-952	56	39	swisscom	swisscom	PROPN
ap-952	56	40	.	.	PUNCT
ap-952	57	1	telekom	telekom	PROPN
ap-952	57	2	austria	austria	PROPN
ap-952	57	3	takes	take	VERB
ap-952	57	4	second	second	ADJ
ap-952	57	5	place	place	NOUN
ap-952	57	6	.	.	PUNCT
ap-952	58	1	the	the	DET
ap-952	58	2	subsequent	subsequent	ADJ
ap-952	58	3	places	place	NOUN
ap-952	58	4	are	be	AUX
ap-952	58	5	occupied	occupy	VERB
ap-952	58	6	by	by	ADP
ap-952	58	7	the	the	DET
ap-952	58	8	northern	northern	ADJ
ap-952	58	9	groups	group	NOUN
ap-952	58	10	,	,	PUNCT
ap-952	58	11	telenor	telenor	NOUN
ap-952	58	12	and	and	CCONJ
ap-952	58	13	teliasonera	teliasonera	NOUN
ap-952	58	14	,	,	PUNCT
ap-952	58	15	which	which	PRON
ap-952	58	16	are	be	AUX
ap-952	58	17	not	not	PART
ap-952	58	18	consolidated	consolidate	VERB
ap-952	58	19	as	as	SCONJ
ap-952	58	20	they	they	PRON
ap-952	58	21	made	make	VERB
ap-952	58	22	many	many	ADJ
ap-952	58	23	acquisitions	acquisition	NOUN
ap-952	58	24	between	between	ADP
ap-952	58	25	2002	2002	NUM
ap-952	58	26	and	and	CCONJ
ap-952	58	27	2005	2005	NUM
ap-952	58	28	.	.	PUNCT
ap-952	59	1	in	in	ADP
ap-952	59	2	upcoming	upcoming	ADJ
ap-952	59	3	years	year	NOUN
ap-952	59	4	they	they	PRON
ap-952	59	5	will	will	AUX
ap-952	59	6	restructure	restructure	VERB
ap-952	59	7	and	and	CCONJ
ap-952	59	8	consolidate	consolidate	VERB
ap-952	59	9	.	.	PUNCT
ap-952	60	1	the	the	DET
ap-952	60	2	fifth	fifth	ADJ
ap-952	60	3	place	place	NOUN
ap-952	60	4	goes	go	VERB
ap-952	60	5	to	to	ADP
ap-952	60	6	ct	ct	PROPN
ap-952	60	7	,	,	PUNCT
ap-952	60	8	which	which	PRON
ap-952	60	9	is	be	AUX
ap-952	60	10	being	be	AUX
ap-952	60	11	restructured	restructure	VERB
ap-952	60	12	at	at	ADP
ap-952	60	13	the	the	DET
ap-952	60	14	present	present	ADJ
ap-952	60	15	time	time	NOUN
ap-952	60	16	.	.	PUNCT
ap-952	61	1	the	the	DET
ap-952	61	2	last	last	ADJ
ap-952	61	3	position	position	NOUN
ap-952	61	4	is	be	AUX
ap-952	61	5	occupied	occupy	VERB
ap-952	61	6	by	by	ADP
ap-952	61	7	the	the	DET
ap-952	61	8	greek	greek	NOUN
ap-952	61	9	operator	operator	NOUN
ap-952	61	10	,	,	PUNCT
ap-952	61	11	ote	ote	NOUN
ap-952	61	12	.	.	NOUN
ap-952	61	13	5	5	NUM
ap-952	61	14	methods	method	NOUN
ap-952	61	15	of	of	ADP
ap-952	61	16	valuation	valuation	NOUN
ap-952	61	17	one	one	NUM
ap-952	61	18	way	way	NOUN
ap-952	61	19	of	of	ADP
ap-952	61	20	categorizing	categorize	VERB
ap-952	61	21	valuation	valuation	NOUN
ap-952	61	22	methods	method	NOUN
ap-952	61	23	is	be	AUX
ap-952	61	24	as	as	SCONJ
ap-952	61	25	follows	follow	VERB
ap-952	61	26	[	[	X
ap-952	61	27	3	3	NUM
ap-952	61	28	]	]	X
ap-952	61	29	:	:	PUNCT
ap-952	61	30	�	�	PROPN
ap-952	61	31	market	market	NOUN
ap-952	61	32	based	base	VERB
ap-952	61	33	–	–	PUNCT
ap-952	61	34	comparable	comparable	ADJ
ap-952	61	35	market	market	NOUN
ap-952	61	36	transactions	transaction	NOUN
ap-952	61	37	or	or	CCONJ
ap-952	61	38	comparable	comparable	ADJ
ap-952	61	39	companies	company	NOUN
ap-952	61	40	.	.	PUNCT
ap-952	62	1	these	these	DET
ap-952	62	2	methods	method	NOUN
ap-952	62	3	assume	assume	VERB
ap-952	62	4	that	that	SCONJ
ap-952	62	5	the	the	DET
ap-952	62	6	value	value	NOUN
ap-952	62	7	of	of	ADP
ap-952	62	8	the	the	DET
ap-952	62	9	company	company	NOUN
ap-952	62	10	can	can	AUX
ap-952	62	11	be	be	AUX
ap-952	62	12	determined	determine	VERB
ap-952	62	13	by	by	ADP
ap-952	62	14	using	use	VERB
ap-952	62	15	as	as	ADP
ap-952	62	16	a	a	DET
ap-952	62	17	reference	reference	NOUN
ap-952	62	18	market	market	NOUN
ap-952	62	19	information	information	NOUN
ap-952	62	20	on	on	ADP
ap-952	62	21	companies	company	NOUN
ap-952	62	22	with	with	ADP
ap-952	62	23	similar	similar	ADJ
ap-952	62	24	characteristics	characteristic	NOUN
ap-952	62	25	as	as	SCONJ
ap-952	62	26	the	the	DET
ap-952	62	27	company	company	NOUN
ap-952	62	28	being	be	AUX
ap-952	62	29	valued	value	VERB
ap-952	62	30	.	.	PUNCT
ap-952	63	1	�	�	PROPN
ap-952	63	2	income	income	PROPN
ap-952	63	3	based	base	VERB
ap-952	63	4	–	–	PUNCT
ap-952	63	5	perhaps	perhaps	ADV
ap-952	63	6	the	the	DET
ap-952	63	7	most	most	ADV
ap-952	63	8	commonly	commonly	ADV
ap-952	63	9	-	-	PUNCT
ap-952	63	10	used	use	VERB
ap-952	63	11	set	set	NOUN
ap-952	63	12	of	of	ADP
ap-952	63	13	valuation	valuation	NOUN
ap-952	63	14	methods	method	NOUN
ap-952	63	15	in	in	ADP
ap-952	63	16	the	the	DET
ap-952	63	17	context	context	NOUN
ap-952	63	18	of	of	ADP
ap-952	63	19	small	small	ADJ
ap-952	63	20	-	-	PUNCT
ap-952	63	21	to	to	ADP
ap-952	63	22	-	-	PUNCT
ap-952	63	23	medium	medium	NOUN
ap-952	63	24	company	company	NOUN
ap-952	63	25	acquisitions	acquisition	NOUN
ap-952	63	26	.	.	PUNCT
ap-952	64	1	financial	financial	ADJ
ap-952	64	2	performance	performance	NOUN
ap-952	64	3	methods	method	NOUN
ap-952	64	4	attempt	attempt	VERB
ap-952	64	5	to	to	PART
ap-952	64	6	measure	measure	VERB
ap-952	64	7	historical	historical	ADJ
ap-952	64	8	performance	performance	NOUN
ap-952	64	9	and	and	CCONJ
ap-952	64	10	also	also	ADV
ap-952	64	11	to	to	PART
ap-952	64	12	predict	predict	VERB
ap-952	64	13	future	future	ADJ
ap-952	64	14	performance	performance	NOUN
ap-952	64	15	in	in	ADP
ap-952	64	16	determining	determine	VERB
ap-952	64	17	the	the	DET
ap-952	64	18	value	value	NOUN
ap-952	64	19	of	of	ADP
ap-952	64	20	the	the	DET
ap-952	64	21	seller	seller	NOUN
ap-952	64	22	’s	’s	PART
ap-952	64	23	business	business	NOUN
ap-952	64	24	to	to	ADP
ap-952	64	25	the	the	DET
ap-952	64	26	buyer	buyer	NOUN
ap-952	64	27	on	on	ADP
ap-952	64	28	a	a	DET
ap-952	64	29	post	post	ADJ
ap-952	64	30	-	-	ADJ
ap-952	64	31	closing	closing	ADJ
ap-952	64	32	basis	basis	NOUN
ap-952	64	33	:	:	PUNCT
ap-952	64	34	�	�	PROPN
ap-952	64	35	capitalization	capitalization	NOUN
ap-952	64	36	of	of	ADP
ap-952	64	37	profits	profit	NOUN
ap-952	64	38	,	,	PUNCT
ap-952	64	39	�	�	PROPN
ap-952	64	40	dcf	dcf	PROPN
ap-952	64	41	,	,	PUNCT
ap-952	64	42	�	�	PROPN
ap-952	64	43	gross	gross	ADJ
ap-952	64	44	profit	profit	NOUN
ap-952	64	45	differential	differential	NOUN
ap-952	64	46	method	method	NOUN
ap-952	64	47	,	,	PUNCT
ap-952	64	48	�	�	PROPN
ap-952	64	49	excess	excess	ADJ
ap-952	64	50	profits	profit	NOUN
ap-952	64	51	method	method	NOUN
ap-952	64	52	,	,	PUNCT
ap-952	64	53	�	�	PROPN
ap-952	64	54	real	real	ADJ
ap-952	64	55	options	option	NOUN
ap-952	64	56	.	.	PUNCT
ap-952	65	1	�	�	PROPN
ap-952	65	2	asset	asset	PROPN
ap-952	65	3	based	base	VERB
ap-952	65	4	–	–	PUNCT
ap-952	65	5	e.	e.	PROPN
ap-952	65	6	g.	g.	PROPN
ap-952	65	7	historical	historical	ADJ
ap-952	65	8	or	or	CCONJ
ap-952	65	9	replacement	replacement	NOUN
ap-952	65	10	cost	cost	NOUN
ap-952	65	11	.	.	PUNCT
ap-952	66	1	if	if	SCONJ
ap-952	66	2	a	a	DET
ap-952	66	3	company	company	NOUN
ap-952	66	4	has	have	VERB
ap-952	66	5	a	a	DET
ap-952	66	6	large	large	ADJ
ap-952	66	7	portion	portion	NOUN
ap-952	66	8	of	of	ADP
ap-952	66	9	its	its	PRON
ap-952	66	10	value	value	NOUN
ap-952	66	11	wrapped	wrap	VERB
ap-952	66	12	up	up	ADP
ap-952	66	13	in	in	ADP
ap-952	66	14	fixed	fixed	ADJ
ap-952	66	15	assets	asset	NOUN
ap-952	66	16	,	,	PUNCT
ap-952	66	17	an	an	DET
ap-952	66	18	appraiser	appraiser	NOUN
ap-952	66	19	may	may	AUX
ap-952	66	20	lean	lean	VERB
ap-952	66	21	toward	toward	ADP
ap-952	66	22	some	some	DET
ap-952	66	23	type	type	NOUN
ap-952	66	24	of	of	ADP
ap-952	66	25	asset	asset	NOUN
ap-952	66	26	valuation	valuation	NOUN
ap-952	66	27	when	when	SCONJ
ap-952	66	28	attempting	attempt	VERB
ap-952	66	29	to	to	PART
ap-952	66	30	price	price	VERB
ap-952	66	31	it	it	PRON
ap-952	66	32	.	.	PUNCT
ap-952	67	1	each	each	PRON
ap-952	67	2	of	of	ADP
ap-952	67	3	the	the	DET
ap-952	67	4	methods	method	NOUN
ap-952	67	5	mentioned	mention	VERB
ap-952	67	6	above	above	ADV
ap-952	67	7	has	have	VERB
ap-952	67	8	its	its	PRON
ap-952	67	9	own	own	ADJ
ap-952	67	10	pros	pro	NOUN
ap-952	67	11	and	and	CCONJ
ap-952	67	12	cons	con	NOUN
ap-952	67	13	.	.	PUNCT
ap-952	68	1	selection	selection	NOUN
ap-952	68	2	of	of	ADP
ap-952	68	3	the	the	DET
ap-952	68	4	optimal	optimal	ADJ
ap-952	68	5	method	method	NOUN
ap-952	68	6	depends	depend	VERB
ap-952	68	7	on	on	ADP
ap-952	68	8	the	the	DET
ap-952	68	9	following	follow	VERB
ap-952	68	10	considerations	consideration	NOUN
ap-952	68	11	:	:	PUNCT
ap-952	68	12	�	�	PROPN
ap-952	68	13	history	history	NOUN
ap-952	68	14	of	of	ADP
ap-952	68	15	the	the	DET
ap-952	68	16	company	company	NOUN
ap-952	68	17	(	(	PUNCT
ap-952	68	18	short	short	ADJ
ap-952	68	19	,	,	PUNCT
ap-952	68	20	long	long	ADJ
ap-952	68	21	)	)	PUNCT
ap-952	68	22	,	,	PUNCT
ap-952	68	23	�	�	PROPN
ap-952	68	24	type	type	NOUN
ap-952	68	25	of	of	ADP
ap-952	68	26	company	company	NOUN
ap-952	68	27	(	(	PUNCT
ap-952	68	28	private	private	ADJ
ap-952	68	29	,	,	PUNCT
ap-952	68	30	public	public	ADJ
ap-952	68	31	)	)	PUNCT
ap-952	68	32	,	,	PUNCT
ap-952	68	33	�	�	PROPN
ap-952	68	34	required	require	VERB
ap-952	68	35	accuracy	accuracy	NOUN
ap-952	68	36	of	of	ADP
ap-952	68	37	calculation	calculation	NOUN
ap-952	68	38	and	and	CCONJ
ap-952	68	39	its	its	PRON
ap-952	68	40	complexity	complexity	NOUN
ap-952	68	41	,	,	PUNCT
ap-952	68	42	�	�	PROPN
ap-952	68	43	business	business	NOUN
ap-952	68	44	cycle	cycle	NOUN
ap-952	68	45	of	of	ADP
ap-952	68	46	the	the	DET
ap-952	68	47	company	company	NOUN
ap-952	68	48	.	.	PUNCT
ap-952	69	1	6	6	NUM
ap-952	69	2	purpose	purpose	NOUN
ap-952	69	3	of	of	ADP
ap-952	69	4	valuation	valuation	NOUN
ap-952	69	5	based	base	VERB
ap-952	69	6	on	on	ADP
ap-952	69	7	the	the	DET
ap-952	69	8	character	character	NOUN
ap-952	69	9	and	and	CCONJ
ap-952	69	10	extent	extent	NOUN
ap-952	69	11	of	of	ADP
ap-952	69	12	the	the	DET
ap-952	69	13	available	available	ADJ
ap-952	69	14	information	information	NOUN
ap-952	69	15	about	about	ADP
ap-952	69	16	the	the	DET
ap-952	69	17	company	company	NOUN
ap-952	69	18	being	be	AUX
ap-952	69	19	valued	value	VERB
ap-952	69	20	and	and	CCONJ
ap-952	69	21	the	the	DET
ap-952	69	22	actual	actual	ADJ
ap-952	69	23	purpose	purpose	NOUN
ap-952	69	24	of	of	ADP
ap-952	69	25	the	the	DET
ap-952	69	26	valuation	valuation	NOUN
ap-952	69	27	itself	itself	PRON
ap-952	69	28	,	,	PUNCT
ap-952	69	29	using	use	VERB
ap-952	69	30	a	a	DET
ap-952	69	31	single	single	ADJ
ap-952	69	32	method	method	NOUN
ap-952	69	33	,	,	PUNCT
ap-952	69	34	various	various	ADJ
ap-952	69	35	values	value	NOUN
ap-952	69	36	can	can	AUX
ap-952	69	37	be	be	AUX
ap-952	69	38	obtained	obtain	VERB
ap-952	69	39	:	:	PUNCT
ap-952	69	40	�	�	PROPN
ap-952	69	41	open	open	ADJ
ap-952	69	42	-	-	PUNCT
ap-952	69	43	market	market	NOUN
ap-952	69	44	value	value	NOUN
ap-952	69	45	,	,	PUNCT
ap-952	69	46	�	�	PROPN
ap-952	69	47	estimated	estimate	VERB
ap-952	69	48	realization	realization	NOUN
ap-952	69	49	value	value	NOUN
ap-952	69	50	,	,	PUNCT
ap-952	69	51	�	�	PROPN
ap-952	69	52	existing	exist	VERB
ap-952	69	53	use	use	NOUN
ap-952	69	54	value	value	NOUN
ap-952	69	55	,	,	PUNCT
ap-952	69	56	�	�	PROPN
ap-952	69	57	estimated	estimate	VERB
ap-952	69	58	restricted	restrict	VERB
ap-952	69	59	realization	realization	NOUN
ap-952	69	60	price	price	NOUN
ap-952	69	61	,	,	PUNCT
ap-952	69	62	�	�	PROPN
ap-952	69	63	depreciated	depreciate	VERB
ap-952	69	64	replacement	replacement	NOUN
ap-952	69	65	cost	cost	NOUN
ap-952	69	66	.	.	PUNCT
ap-952	70	1	7	7	NUM
ap-952	70	2	valuation	valuation	NOUN
ap-952	70	3	of	of	ADP
ap-952	70	4	czech	czech	PROPN
ap-952	70	5	telecom	telecom	NOUN
ap-952	70	6	the	the	DET
ap-952	70	7	dfcff	dfcff	PROPN
ap-952	70	8	method	method	NOUN
ap-952	70	9	[	[	X
ap-952	70	10	4	4	X
ap-952	70	11	]	]	PUNCT
ap-952	70	12	was	be	AUX
ap-952	70	13	chosen	choose	VERB
ap-952	70	14	for	for	ADP
ap-952	70	15	the	the	DET
ap-952	70	16	valuation	valuation	NOUN
ap-952	70	17	here	here	ADV
ap-952	70	18	.	.	PUNCT
ap-952	71	1	ct	ct	PROPN
ap-952	71	2	was	be	AUX
ap-952	71	3	valued	value	VERB
ap-952	71	4	to	to	ADP
ap-952	71	5	january	january	PROPN
ap-952	71	6	1st	1st	NOUN
ap-952	71	7	2006	2006	NUM
ap-952	71	8	.	.	PUNCT
ap-952	72	1	swot	swot	PROPN
ap-952	72	2	and	and	CCONJ
ap-952	72	3	competition	competition	NOUN
ap-952	72	4	analyses	analysis	NOUN
ap-952	72	5	were	be	AUX
ap-952	72	6	carried	carry	VERB
ap-952	72	7	out	out	ADP
ap-952	72	8	,	,	PUNCT
ap-952	72	9	and	and	CCONJ
ap-952	72	10	the	the	DET
ap-952	72	11	indicators	indicator	NOUN
ap-952	72	12	calculated	calculate	VERB
ap-952	72	13	in	in	ADP
ap-952	72	14	the	the	DET
ap-952	72	15	previous	previous	ADJ
ap-952	72	16	part	part	NOUN
ap-952	72	17	were	be	AUX
ap-952	72	18	used	use	VERB
ap-952	72	19	to	to	PART
ap-952	72	20	predict	predict	VERB
ap-952	72	21	the	the	DET
ap-952	72	22	cash	cash	NOUN
ap-952	72	23	flow	flow	NOUN
ap-952	72	24	.	.	PUNCT
ap-952	73	1	fcff	fcff	PROPN
ap-952	73	2	ebit	ebit	PROPN
ap-952	73	3	t	t	PROPN
ap-952	73	4	dep	dep	PROPN
ap-952	73	5	wc	wc	PROPN
ap-952	73	6	invt	invt	PROPN
ap-952	73	7	t	t	PROPN
ap-952	73	8	t	t	PROPN
ap-952	73	9	t	t	PROPN
ap-952	73	10	t	t	PROPN
ap-952	73	11	�	�	PROPN
ap-952	73	12	�	�	PROPN
ap-952	73	13	�	�	PROPN
ap-952	73	14	�	�	PROPN
ap-952	73	15	�	�	PROPN
ap-952	73	16	�	�	PROPN
ap-952	73	17	(	(	PUNCT
ap-952	73	18	)	)	PUNCT
ap-952	73	19	1	1	NUM
ap-952	73	20	�	�	PROPN
ap-952	73	21	(	(	PUNCT
ap-952	73	22	5	5	NUM
ap-952	73	23	)	)	PUNCT
ap-952	73	24	fcfft	fcfft	NOUN
ap-952	73	25	–	–	PUNCT
ap-952	73	26	free	free	ADJ
ap-952	73	27	cash	cash	NOUN
ap-952	73	28	flow	flow	NOUN
ap-952	73	29	to	to	ADP
ap-952	73	30	the	the	DET
ap-952	73	31	firm	firm	NOUN
ap-952	73	32	,	,	PUNCT
ap-952	73	33	ebitt	ebitt	ADV
ap-952	73	34	–	–	PUNCT
ap-952	73	35	earnings	earning	NOUN
ap-952	73	36	before	before	ADP
ap-952	73	37	interest	interest	NOUN
ap-952	73	38	and	and	CCONJ
ap-952	73	39	taxes	taxis	NOUN
ap-952	73	40	,	,	PUNCT
ap-952	73	41	t	t	NOUN
ap-952	73	42	–	–	PUNCT
ap-952	73	43	taxes	taxis	NOUN
ap-952	73	44	,	,	PUNCT
ap-952	73	45	dept	dept	NOUN
ap-952	73	46	–	–	PUNCT
ap-952	73	47	depreciation	depreciation	NOUN
ap-952	73	48	,	,	PUNCT
ap-952	73	49	�	�	PROPN
ap-952	73	50	wct	wct	ADJ
ap-952	73	51	–	–	PUNCT
ap-952	73	52	change	change	NOUN
ap-952	73	53	in	in	ADP
ap-952	73	54	working	working	NOUN
ap-952	73	55	capital	capital	NOUN
ap-952	73	56	,	,	PUNCT
ap-952	73	57	invt	invt	NOUN
ap-952	73	58	–	–	PUNCT
ap-952	73	59	investments	investment	NOUN
ap-952	73	60	.	.	PUNCT
ap-952	74	1	for	for	ADP
ap-952	74	2	the	the	DET
ap-952	74	3	valuation	valuation	NOUN
ap-952	74	4	,	,	PUNCT
ap-952	74	5	a	a	DET
ap-952	74	6	two	two	NUM
ap-952	74	7	-	-	PUNCT
ap-952	74	8	phase	phase	NOUN
ap-952	74	9	model	model	NOUN
ap-952	74	10	was	be	AUX
ap-952	74	11	used	use	VERB
ap-952	74	12	:	:	PUNCT
ap-952	75	1	v	v	X
ap-952	75	2	fcff	fcff	PROPN
ap-952	75	3	wacc	wacc	PROPN
ap-952	75	4	fcff	fcff	PROPN
ap-952	75	5	wacc	wacc	PROPN
ap-952	75	6	g	g	PROPN
ap-952	75	7	waccb	waccb	PROPN
ap-952	75	8	t	t	PROPN
ap-952	75	9	t	t	PROPN
ap-952	75	10	n	n	CCONJ
ap-952	75	11	n	n	PROPN
ap-952	75	12	n	n	PROPN
ap-952	75	13	t	t	NOUN
ap-952	75	14	t	t	PROPN
ap-952	75	15	n	n	CCONJ
ap-952	75	16	�	�	PROPN
ap-952	75	17	�	�	PROPN
ap-952	75	18	�	�	PROPN
ap-952	75	19	�	�	PROPN
ap-952	75	20	�	�	PROPN
ap-952	75	21	�	�	PROPN
ap-952	75	22	�	�	PROPN
ap-952	75	23	�	�	PROPN
ap-952	75	24	�	�	PROPN
ap-952	75	25	�	�	PROPN
ap-952	75	26	�	�	PROPN
ap-952	75	27	(	(	PUNCT
ap-952	75	28	)	)	PUNCT
ap-952	75	29	(	(	PUNCT
ap-952	75	30	)	)	PUNCT
ap-952	75	31	1	1	NUM
ap-952	75	32	11	11	NUM
ap-952	75	33	1	1	NUM
ap-952	75	34	(	(	PUNCT
ap-952	75	35	6	6	NUM
ap-952	75	36	)	)	PUNCT
ap-952	75	37	vb	vb	NOUN
ap-952	75	38	–	–	PUNCT
ap-952	75	39	gross	gross	ADJ
ap-952	75	40	value	value	NOUN
ap-952	75	41	,	,	PUNCT
ap-952	75	42	wacc	wacc	PROPN
ap-952	75	43	–	–	PUNCT
ap-952	75	44	weighted	weight	VERB
ap-952	75	45	average	average	ADJ
ap-952	75	46	cost	cost	NOUN
ap-952	75	47	of	of	ADP
ap-952	75	48	capital	capital	NOUN
ap-952	75	49	,	,	PUNCT
ap-952	75	50	gn	gn	PROPN
ap-952	75	51	–	–	PUNCT
ap-952	75	52	growth	growth	NOUN
ap-952	75	53	.	.	PUNCT
ap-952	76	1	the	the	DET
ap-952	76	2	share	share	NOUN
ap-952	76	3	price	price	NOUN
ap-952	76	4	:	:	PUNCT
ap-952	76	5	sp	sp	ADP
ap-952	76	6	v	v	ADP
ap-952	76	7	ns	ns	NUM
ap-952	77	1	v	v	NOUN
ap-952	77	2	fc	fc	PROPN
ap-952	77	3	ns	ns	PROPN
ap-952	77	4	n	n	PROPN
ap-952	77	5	b	b	PROPN
ap-952	77	6	�	�	PROPN
ap-952	77	7	�	�	PROPN
ap-952	77	8	�	�	PROPN
ap-952	77	9	(	(	PUNCT
ap-952	77	10	7	7	NUM
ap-952	77	11	)	)	PUNCT
ap-952	77	12	sp	sp	ADP
ap-952	77	13	–	–	PUNCT
ap-952	77	14	share	share	NOUN
ap-952	77	15	price	price	NOUN
ap-952	77	16	,	,	PUNCT
ap-952	77	17	vn	vn	INTJ
ap-952	77	18	–	–	PUNCT
ap-952	77	19	nett	nett	ADJ
ap-952	77	20	value	value	NOUN
ap-952	77	21	,	,	PUNCT
ap-952	77	22	fc	fc	X
ap-952	77	23	–	–	PUNCT
ap-952	77	24	foreign	foreign	ADJ
ap-952	77	25	capital	capital	NOUN
ap-952	77	26	,	,	PUNCT
ap-952	77	27	ns	ns	ADJ
ap-952	77	28	–	–	PUNCT
ap-952	77	29	number	number	NOUN
ap-952	77	30	of	of	ADP
ap-952	77	31	shares	share	NOUN
ap-952	77	32	.	.	PUNCT
ap-952	78	1	for	for	ADP
ap-952	78	2	calculating	calculate	VERB
ap-952	78	3	wacc	wacc	PROPN
ap-952	78	4	and	and	CCONJ
ap-952	78	5	the	the	DET
ap-952	78	6	cost	cost	NOUN
ap-952	78	7	of	of	ADP
ap-952	78	8	the	the	DET
ap-952	78	9	own	own	ADJ
ap-952	78	10	capital	capital	NOUN
ap-952	78	11	,	,	PUNCT
ap-952	78	12	the	the	DET
ap-952	78	13	capm	capm	PROPN
ap-952	78	14	model	model	NOUN
ap-952	78	15	was	be	AUX
ap-952	78	16	used	use	VERB
ap-952	78	17	.	.	PUNCT
ap-952	79	1	the	the	DET
ap-952	79	2	shares	share	NOUN
ap-952	79	3	were	be	AUX
ap-952	79	4	valued	value	VERB
ap-952	79	5	at	at	ADP
ap-952	79	6	a	a	DET
ap-952	79	7	price	price	NOUN
ap-952	79	8	of	of	ADP
ap-952	79	9	czk	czk	PROPN
ap-952	79	10	580	580	NUM
ap-952	79	11	.	.	PUNCT
ap-952	80	1	the	the	DET
ap-952	80	2	actual	actual	ADJ
ap-952	80	3	share	share	NOUN
ap-952	80	4	prices	price	NOUN
ap-952	80	5	at	at	ADP
ap-952	80	6	the	the	DET
ap-952	80	7	prague	prague	PROPN
ap-952	80	8	stock	stock	NOUN
ap-952	80	9	exchange	exchange	NOUN
ap-952	80	10	on	on	ADP
ap-952	80	11	december	december	PROPN
ap-952	80	12	30th	30th	NUM
ap-952	80	13	,	,	PUNCT
ap-952	80	14	16	16	NUM
ap-952	80	15	©	©	PROPN
ap-952	80	16	czech	czech	PROPN
ap-952	80	17	technical	technical	PROPN
ap-952	80	18	university	university	PROPN
ap-952	80	19	publishing	publishing	NOUN
ap-952	80	20	house	house	NOUN
ap-952	80	21	http://ctn.cvut.cz/ap/	http://ctn.cvut.cz/ap/	PROPN
ap-952	80	22	acta	acta	PROPN
ap-952	80	23	polytechnica	polytechnica	PROPN
ap-952	80	24	vol	vol	NOUN
ap-952	80	25	.	.	PUNCT
ap-952	81	1	47	47	NUM
ap-952	81	2	no	no	NOUN
ap-952	81	3	.	.	PUNCT
ap-952	82	1	4–5/2007	4–5/2007	NUM
ap-952	82	2	year	year	NOUN
ap-952	82	3	2002	2002	NUM
ap-952	82	4	2003	2003	NUM
ap-952	82	5	2004	2004	NUM
ap-952	82	6	2005	2005	NUM
ap-952	82	7	ct	ct	PRON
ap-952	82	8	345.47	345.47	NUM
ap-952	82	9	279.88	279.88	NUM
ap-952	82	10	280.02	280.02	NUM
ap-952	82	11	294.87	294.87	NUM
ap-952	82	12	ote	ote	NUM
ap-952	82	13	224.93	224.93	NUM
ap-952	82	14	237.36	237.36	NUM
ap-952	82	15	212.73	212.73	NUM
ap-952	82	16	195.96	195.96	NUM
ap-952	82	17	swisscom	swisscom	X
ap-952	82	18	2	2	NUM
ap-952	82	19	399.4	399.4	NUM
ap-952	82	20	2	2	NUM
ap-952	82	21	409.5	409.5	NUM
ap-952	82	22	1	1	NUM
ap-952	82	23	992.6	992.6	NUM
ap-952	82	24	1	1	NUM
ap-952	82	25	820.7	820.7	NUM
ap-952	82	26	ta	ta	ADP
ap-952	82	27	158.60	158.60	NUM
ap-952	82	28	171.06	171.06	NUM
ap-952	82	29	167.05	167.05	NUM
ap-952	82	30	166.46	166.46	NUM
ap-952	82	31	telenor	telenor	NOUN
ap-952	82	32	81.19	81.19	NUM
ap-952	82	33	79.49	79.49	NUM
ap-952	82	34	79.48	79.48	NUM
ap-952	82	35	98.55	98.55	NUM
ap-952	82	36	teliasonera	teliasonera	NOUN
ap-952	82	37	81.61	81.61	NUM
ap-952	82	38	85.80	85.80	NUM
ap-952	82	39	87.85	87.85	NUM
ap-952	82	40	87.40	87.40	NUM
ap-952	82	41	table	table	NOUN
ap-952	82	42	4	4	NUM
ap-952	82	43	:	:	PUNCT
ap-952	82	44	book	book	NOUN
ap-952	82	45	value	value	NOUN
ap-952	82	46	–	–	PUNCT
ap-952	82	47	bv	bv	PROPN
ap-952	82	48	(	(	PUNCT
ap-952	82	49	in	in	ADP
ap-952	82	50	czk	czk	NOUN
ap-952	82	51	)	)	PUNCT
ap-952	82	52	0	0	NUM
ap-952	83	1	czk	czk	PROPN
ap-952	83	2	50	50	NUM
ap-952	83	3	czk	czk	NOUN
ap-952	83	4	100	100	NUM
ap-952	83	5	czk	czk	NOUN
ap-952	83	6	150	150	NUM
ap-952	83	7	czk	czk	NOUN
ap-952	83	8	200	200	NUM
ap-952	83	9	czk	czk	NOUN
ap-952	83	10	250	250	NUM
ap-952	83	11	czk	czk	NOUN
ap-952	83	12	300	300	NUM
ap-952	83	13	czk	czk	NOUN
ap-952	83	14	350	350	NUM
ap-952	83	15	czk	czk	NOUN
ap-952	83	16	400	400	NUM
ap-952	83	17	czk	czk	NOUN
ap-952	83	18	2002	2002	NUM
ap-952	83	19	2003	2003	NUM
ap-952	83	20	2004	2004	NUM
ap-952	83	21	2005	2005	NUM
ap-952	83	22	year	year	NOUN
ap-952	83	23	bv	bv	PROPN
ap-952	83	24	ct	ct	PROPN
ap-952	83	25	ote	ote	PROPN
ap-952	83	26	swisscom	swisscom	X
ap-952	83	27	ta	ta	AUX
ap-952	83	28	telenor	telenor	VERB
ap-952	83	29	ts	ts	ADP
ap-952	83	30	fig	fig	NOUN
ap-952	83	31	.	.	PUNCT
ap-952	84	1	4	4	NUM
ap-952	84	2	:	:	PUNCT
ap-952	84	3	bv	bv	PROPN
ap-952	84	4	(	(	PUNCT
ap-952	84	5	for	for	ADP
ap-952	84	6	better	well	ADJ
ap-952	84	7	lucidity	lucidity	NOUN
ap-952	84	8	the	the	DET
ap-952	84	9	values	value	NOUN
ap-952	84	10	are	be	AUX
ap-952	84	11	shown	show	VERB
ap-952	84	12	only	only	ADV
ap-952	84	13	from	from	ADP
ap-952	84	14	�	�	PROPN
ap-952	84	15	30	30	NUM
ap-952	84	16	30	30	NUM
ap-952	84	17	;	;	PUNCT
ap-952	84	18	)	)	PUNCT
ap-952	84	19	2005	2005	NUM
ap-952	84	20	and	and	CCONJ
ap-952	84	21	january	january	PROPN
ap-952	84	22	1st	1st	NOUN
ap-952	84	23	2006	2006	NUM
ap-952	84	24	were	be	AUX
ap-952	84	25	524.50	524.50	NUM
ap-952	84	26	czk	czk	NOUN
ap-952	84	27	and	and	CCONJ
ap-952	84	28	527	527	NUM
ap-952	84	29	czk	czk	NOUN
ap-952	84	30	,	,	PUNCT
ap-952	84	31	respectively	respectively	ADV
ap-952	84	32	[	[	X
ap-952	84	33	1	1	NUM
ap-952	84	34	]	]	PUNCT
ap-952	84	35	.	.	PUNCT
ap-952	85	1	8	8	NUM
ap-952	85	2	conclusion	conclusion	NOUN
ap-952	85	3	six	six	NUM
ap-952	85	4	telecommunications	telecommunication	NOUN
ap-952	85	5	groups	group	NOUN
ap-952	85	6	were	be	AUX
ap-952	85	7	compared	compare	VERB
ap-952	85	8	using	use	VERB
ap-952	85	9	techno	techno	NOUN
ap-952	85	10	-	-	PUNCT
ap-952	85	11	economic	economic	ADJ
ap-952	85	12	and	and	CCONJ
ap-952	85	13	financial	financial	ADJ
ap-952	85	14	indicators	indicator	NOUN
ap-952	85	15	.	.	PUNCT
ap-952	86	1	swisscom	swisscom	PROPN
ap-952	86	2	achieved	achieve	VERB
ap-952	86	3	the	the	DET
ap-952	86	4	best	good	ADJ
ap-952	86	5	values	value	NOUN
ap-952	86	6	across	across	ADP
ap-952	86	7	most	most	ADJ
ap-952	86	8	of	of	ADP
ap-952	86	9	the	the	DET
ap-952	86	10	criteria	criterion	NOUN
ap-952	86	11	considered	consider	VERB
ap-952	86	12	.	.	PUNCT
ap-952	87	1	subsequently	subsequently	ADV
ap-952	87	2	,	,	PUNCT
ap-952	87	3	several	several	ADJ
ap-952	87	4	of	of	ADP
ap-952	87	5	these	these	DET
ap-952	87	6	indicators	indicator	NOUN
ap-952	87	7	were	be	AUX
ap-952	87	8	employed	employ	VERB
ap-952	87	9	for	for	ADP
ap-952	87	10	a	a	DET
ap-952	87	11	valuation	valuation	NOUN
ap-952	87	12	of	of	ADP
ap-952	87	13	czech	czech	PROPN
ap-952	87	14	telecom	telecom	NOUN
ap-952	87	15	by	by	ADP
ap-952	87	16	the	the	DET
ap-952	87	17	dfcff	dfcff	PROPN
ap-952	87	18	method	method	NOUN
ap-952	87	19	.	.	PUNCT
ap-952	88	1	the	the	DET
ap-952	88	2	shares	share	NOUN
ap-952	88	3	were	be	AUX
ap-952	88	4	valued	value	VERB
ap-952	88	5	at	at	ADP
ap-952	88	6	czk	czk	PROPN
ap-952	88	7	580	580	NUM
ap-952	88	8	.	.	PUNCT
ap-952	89	1	on	on	ADP
ap-952	89	2	december	december	PROPN
ap-952	89	3	30th	30th	NOUN
ap-952	89	4	2005	2005	NUM
ap-952	89	5	and	and	CCONJ
ap-952	89	6	january	january	PROPN
ap-952	89	7	1st	1st	NOUN
ap-952	89	8	2006	2006	NUM
ap-952	89	9	,	,	PUNCT
ap-952	89	10	the	the	DET
ap-952	89	11	actual	actual	ADJ
ap-952	89	12	share	share	NOUN
ap-952	89	13	prices	price	NOUN
ap-952	89	14	at	at	ADP
ap-952	89	15	the	the	DET
ap-952	89	16	prague	prague	PROPN
ap-952	89	17	stock	stock	PROPN
ap-952	89	18	exchange	exchange	PROPN
ap-952	89	19	were	be	AUX
ap-952	89	20	524.50	524.50	NUM
ap-952	89	21	czk	czk	NOUN
ap-952	89	22	and	and	CCONJ
ap-952	89	23	527	527	NUM
ap-952	89	24	czk	czk	NOUN
ap-952	89	25	respectively	respectively	ADV
ap-952	89	26	.	.	PUNCT
ap-952	90	1	the	the	DET
ap-952	90	2	dfcff	dfcff	PROPN
ap-952	90	3	method	method	NOUN
ap-952	90	4	was	be	AUX
ap-952	90	5	chosen	choose	VERB
ap-952	90	6	based	base	VERB
ap-952	90	7	on	on	ADP
ap-952	90	8	the	the	DET
ap-952	90	9	characteristics	characteristic	NOUN
ap-952	90	10	of	of	ADP
ap-952	90	11	ct	ct	PROPN
ap-952	90	12	.	.	PUNCT
ap-952	91	1	this	this	PRON
ap-952	91	2	is	be	AUX
ap-952	91	3	a	a	DET
ap-952	91	4	public	public	ADJ
ap-952	91	5	company	company	NOUN
ap-952	91	6	and	and	CCONJ
ap-952	91	7	its	its	PRON
ap-952	91	8	shares	share	NOUN
ap-952	91	9	are	be	AUX
ap-952	91	10	traded	trade	VERB
ap-952	91	11	on	on	ADP
ap-952	91	12	the	the	DET
ap-952	91	13	prague	prague	PROPN
ap-952	91	14	stock	stock	NOUN
ap-952	91	15	exchange	exchange	PROPN
ap-952	91	16	.	.	PUNCT
ap-952	92	1	a	a	DET
ap-952	92	2	sufficient	sufficient	ADJ
ap-952	92	3	amount	amount	NOUN
ap-952	92	4	of	of	ADP
ap-952	92	5	information	information	NOUN
ap-952	92	6	about	about	ADP
ap-952	92	7	ct	ct	PROPN
ap-952	92	8	is	be	AUX
ap-952	92	9	publicly	publicly	ADV
ap-952	92	10	available	available	ADJ
ap-952	92	11	,	,	PUNCT
ap-952	92	12	including	include	VERB
ap-952	92	13	data	datum	NOUN
ap-952	92	14	from	from	ADP
ap-952	92	15	the	the	DET
ap-952	92	16	past	past	ADJ
ap-952	92	17	years	year	NOUN
ap-952	92	18	.	.	PUNCT
ap-952	93	1	information	information	NOUN
ap-952	93	2	for	for	ADP
ap-952	93	3	predicting	predict	VERB
ap-952	93	4	the	the	DET
ap-952	93	5	company	company	NOUN
ap-952	93	6	’s	’s	PART
ap-952	93	7	future	future	NOUN
ap-952	93	8	can	can	AUX
ap-952	93	9	be	be	AUX
ap-952	93	10	also	also	ADV
ap-952	93	11	found	find	VERB
ap-952	93	12	.	.	PUNCT
ap-952	94	1	the	the	DET
ap-952	94	2	forecast	forecast	NOUN
ap-952	94	3	of	of	ADP
ap-952	94	4	future	future	ADJ
ap-952	94	5	revenues	revenue	NOUN
ap-952	94	6	and	and	CCONJ
ap-952	94	7	expenses	expense	NOUN
ap-952	94	8	is	be	AUX
ap-952	94	9	the	the	DET
ap-952	94	10	most	most	ADV
ap-952	94	11	important	important	ADJ
ap-952	94	12	aspect	aspect	NOUN
ap-952	94	13	of	of	ADP
ap-952	94	14	valuing	value	VERB
ap-952	94	15	the	the	DET
ap-952	94	16	company	company	NOUN
ap-952	94	17	using	use	VERB
ap-952	94	18	dcf	dcf	PROPN
ap-952	94	19	methods	method	NOUN
ap-952	94	20	.	.	PUNCT
ap-952	95	1	another	another	DET
ap-952	95	2	important	important	ADJ
ap-952	95	3	step	step	NOUN
ap-952	95	4	is	be	AUX
ap-952	95	5	to	to	PART
ap-952	95	6	determine	determine	VERB
ap-952	95	7	wacc	wacc	PROPN
ap-952	95	8	.	.	PUNCT
ap-952	96	1	for	for	ADP
ap-952	96	2	this	this	DET
ap-952	96	3	purpose	purpose	NOUN
ap-952	96	4	,	,	PUNCT
ap-952	96	5	historical	historical	ADJ
ap-952	96	6	data	datum	NOUN
ap-952	96	7	from	from	ADP
ap-952	96	8	the	the	DET
ap-952	96	9	prague	prague	PROPN
ap-952	96	10	stock	stock	PROPN
ap-952	96	11	exchange	exchange	PROPN
ap-952	96	12	was	be	AUX
ap-952	96	13	used	use	VERB
ap-952	96	14	.	.	PUNCT
ap-952	97	1	a	a	DET
ap-952	97	2	sensitivity	sensitivity	NOUN
ap-952	97	3	analysis	analysis	NOUN
ap-952	97	4	on	on	ADP
ap-952	97	5	changing	change	VERB
ap-952	97	6	initial	initial	ADJ
ap-952	97	7	expectations	expectation	NOUN
ap-952	97	8	was	be	AUX
ap-952	97	9	also	also	ADV
ap-952	97	10	conducted	conduct	VERB
ap-952	97	11	,	,	PUNCT
ap-952	97	12	see	see	VERB
ap-952	97	13	[	[	X
ap-952	97	14	1	1	NUM
ap-952	97	15	]	]	PUNCT
ap-952	97	16	.	.	PUNCT
ap-952	98	1	my	my	PRON
ap-952	98	2	future	future	ADJ
ap-952	98	3	work	work	NOUN
ap-952	98	4	will	will	AUX
ap-952	98	5	be	be	AUX
ap-952	98	6	on	on	ADP
ap-952	98	7	valuing	value	VERB
ap-952	98	8	companies	company	NOUN
ap-952	98	9	with	with	ADP
ap-952	98	10	a	a	DET
ap-952	98	11	short	short	ADJ
ap-952	98	12	history	history	NOUN
ap-952	98	13	of	of	ADP
ap-952	98	14	existence	existence	NOUN
ap-952	98	15	.	.	PUNCT
ap-952	99	1	historical	historical	ADJ
ap-952	99	2	data	datum	NOUN
ap-952	99	3	can	can	AUX
ap-952	99	4	not	not	PART
ap-952	99	5	be	be	AUX
ap-952	99	6	used	use	VERB
ap-952	99	7	,	,	PUNCT
ap-952	99	8	and	and	CCONJ
ap-952	99	9	hence	hence	ADV
ap-952	99	10	it	it	PRON
ap-952	99	11	is	be	AUX
ap-952	99	12	complicated	complicated	ADJ
ap-952	99	13	to	to	PART
ap-952	99	14	predict	predict	VERB
ap-952	99	15	the	the	DET
ap-952	99	16	future	future	NOUN
ap-952	99	17	.	.	PUNCT
ap-952	100	1	so	so	ADV
ap-952	100	2	far	far	ADV
ap-952	100	3	,	,	PUNCT
ap-952	100	4	a	a	DET
ap-952	100	5	no	no	DET
ap-952	100	6	unified	unified	ADJ
ap-952	100	7	theory	theory	NOUN
ap-952	100	8	is	be	AUX
ap-952	100	9	available	available	ADJ
ap-952	100	10	for	for	ADP
ap-952	100	11	such	such	ADJ
ap-952	100	12	cases	case	NOUN
ap-952	100	13	.	.	PUNCT
ap-952	101	1	the	the	DET
ap-952	101	2	market	market	NOUN
ap-952	101	3	confrontation	confrontation	NOUN
ap-952	101	4	method	method	NOUN
ap-952	101	5	may	may	AUX
ap-952	101	6	deal	deal	VERB
ap-952	101	7	sufficiently	sufficiently	ADV
ap-952	101	8	with	with	ADP
ap-952	101	9	this	this	DET
ap-952	101	10	issue	issue	NOUN
ap-952	101	11	,	,	PUNCT
ap-952	101	12	and	and	CCONJ
ap-952	101	13	this	this	PRON
ap-952	101	14	will	will	AUX
ap-952	101	15	be	be	AUX
ap-952	101	16	the	the	DET
ap-952	101	17	focus	focus	NOUN
ap-952	101	18	of	of	ADP
ap-952	101	19	my	my	PRON
ap-952	101	20	work	work	NOUN
ap-952	101	21	.	.	PUNCT
ap-952	102	1	references	reference	NOUN
ap-952	102	2	[	[	X
ap-952	102	3	1	1	NUM
ap-952	102	4	]	]	PUNCT
ap-952	102	5	lisník	lisník	NOUN
ap-952	102	6	,	,	PUNCT
ap-952	102	7	j.	j.	PROPN
ap-952	102	8	:	:	PUNCT
ap-952	102	9	financial	financial	ADJ
ap-952	102	10	analysis	analysis	NOUN
ap-952	102	11	of	of	ADP
ap-952	102	12	the	the	DET
ap-952	102	13	telecommunications	telecommunication	NOUN
ap-952	102	14	companies	company	NOUN
ap-952	102	15	.	.	PUNCT
ap-952	103	1	diploma	diploma	NOUN
ap-952	103	2	thesis	thesis	NOUN
ap-952	103	3	,	,	PUNCT
ap-952	103	4	2007	2007	NUM
ap-952	103	5	,	,	PUNCT
ap-952	103	6	in	in	ADP
ap-952	103	7	czech	czech	PROPN
ap-952	103	8	.	.	PUNCT
ap-952	104	1	[	[	X
ap-952	104	2	2	2	X
ap-952	104	3	]	]	X
ap-952	104	4	kislingerová	kislingerová	PROPN
ap-952	104	5	,	,	PUNCT
ap-952	104	6	e.	e.	PROPN
ap-952	104	7	,	,	PUNCT
ap-952	104	8	hnilica	hnilica	PROPN
ap-952	104	9	,	,	PUNCT
ap-952	104	10	j.	j.	PROPN
ap-952	104	11	:	:	PUNCT
ap-952	104	12	financial	financial	ADJ
ap-952	104	13	analysis	analysis	NOUN
ap-952	104	14	step	step	NOUN
ap-952	104	15	by	by	ADP
ap-952	104	16	step	step	NOUN
ap-952	104	17	.	.	PUNCT
ap-952	105	1	prague	prague	PROPN
ap-952	105	2	:	:	PUNCT
ap-952	105	3	c.	c.	PROPN
ap-952	105	4	h.	h.	PROPN
ap-952	105	5	beck	beck	PROPN
ap-952	105	6	,	,	PUNCT
ap-952	105	7	2005	2005	NUM
ap-952	105	8	,	,	PUNCT
ap-952	105	9	in	in	ADP
ap-952	105	10	czech	czech	PROPN
ap-952	105	11	.	.	PUNCT
ap-952	106	1	[	[	X
ap-952	106	2	3	3	X
ap-952	106	3	]	]	X
ap-952	106	4	mařík	mařík	NOUN
ap-952	106	5	,	,	PUNCT
ap-952	106	6	m.	m.	NOUN
ap-952	106	7	et	et	PROPN
ap-952	106	8	al	al	PROPN
ap-952	106	9	.	.	PUNCT
ap-952	106	10	:	:	PUNCT
ap-952	106	11	methods	method	NOUN
ap-952	106	12	of	of	ADP
ap-952	106	13	valuating	valuating	NOUN
ap-952	106	14	companies	company	NOUN
ap-952	106	15	.	.	PUNCT
ap-952	107	1	prague	prague	PROPN
ap-952	107	2	:	:	PUNCT
ap-952	107	3	ekopress	ekopress	ADJ
ap-952	107	4	,	,	PUNCT
ap-952	107	5	2003	2003	NUM
ap-952	107	6	,	,	PUNCT
ap-952	107	7	in	in	ADP
ap-952	107	8	czech	czech	PROPN
ap-952	107	9	.	.	PUNCT
ap-952	108	1	[	[	X
ap-952	108	2	4	4	X
ap-952	108	3	]	]	X
ap-952	108	4	kislingerová	kislingerová	PROPN
ap-952	108	5	,	,	PUNCT
ap-952	108	6	e.	e.	PROPN
ap-952	108	7	:	:	PUNCT
ap-952	108	8	valuating	valuate	VERB
ap-952	108	9	company	company	NOUN
ap-952	108	10	.	.	PUNCT
ap-952	109	1	prague	prague	PROPN
ap-952	109	2	:	:	PUNCT
ap-952	109	3	c.	c.	PROPN
ap-952	109	4	h.	h.	PROPN
ap-952	109	5	beck	beck	PROPN
ap-952	109	6	,	,	PUNCT
ap-952	109	7	2001	2001	NUM
ap-952	109	8	,	,	PUNCT
ap-952	109	9	in	in	ADP
ap-952	109	10	czech	czech	PROPN
ap-952	109	11	.	.	PUNCT
ap-952	110	1	[	[	X
ap-952	110	2	5	5	NUM
ap-952	110	3	]	]	PUNCT
ap-952	110	4	mrkvička	mrkvička	NOUN
ap-952	110	5	,	,	PUNCT
ap-952	110	6	j.	j.	PROPN
ap-952	110	7	:	:	PUNCT
ap-952	110	8	financial	financial	ADJ
ap-952	110	9	analysis	analysis	NOUN
ap-952	110	10	.	.	PUNCT
ap-952	111	1	prague	prague	NOUN
ap-952	111	2	:	:	PUNCT
ap-952	111	3	bilance	bilance	NOUN
ap-952	111	4	,	,	PUNCT
ap-952	111	5	1997	1997	NUM
ap-952	111	6	,	,	PUNCT
ap-952	111	7	in	in	ADP
ap-952	111	8	czech	czech	PROPN
ap-952	111	9	.	.	PUNCT
ap-952	112	1	jiří	jiří	PROPN
ap-952	112	2	lisník	lisník	PROPN
ap-952	112	3	e	e	NOUN
ap-952	112	4	-	-	NOUN
ap-952	112	5	mail	mail	NOUN
ap-952	112	6	:	:	PUNCT
ap-952	112	7	j.lisnik@sh.cvut.cz	j.lisnik@sh.cvut.cz	PRON
ap-952	112	8	dept	dept	PROPN
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ap-952	112	11	economics	economic	NOUN
ap-952	112	12	,	,	PUNCT
ap-952	112	13	management	management	NOUN
ap-952	112	14	and	and	CCONJ
ap-952	112	15	humanities	humanity	NOUN
ap-952	112	16	czech	czech	PROPN
ap-952	112	17	technical	technical	PROPN
ap-952	112	18	university	university	PROPN
ap-952	112	19	in	in	ADP
ap-952	112	20	prague	prague	PROPN
ap-952	112	21	faculty	faculty	NOUN
ap-952	112	22	of	of	ADP
ap-952	112	23	electrical	electrical	ADJ
ap-952	112	24	engineering	engineering	NOUN
ap-952	112	25	technická	technická	NOUN
ap-952	112	26	2	2	NUM
ap-952	112	27	166	166	NUM
ap-952	112	28	27	27	NUM
ap-952	112	29	prague	prague	NOUN
ap-952	112	30	,	,	PUNCT
ap-952	112	31	czech	czech	PROPN
ap-952	112	32	republic	republic	NOUN
ap-952	112	33	©	©	PROPN
ap-952	112	34	czech	czech	PROPN
ap-952	112	35	technical	technical	PROPN
ap-952	112	36	university	university	PROPN
ap-952	112	37	publishing	publishing	NOUN
ap-952	112	38	house	house	NOUN
ap-952	112	39	http://ctn.cvut.cz/ap/	http://ctn.cvut.cz/ap/	PROPN
ap-952	112	40	17	17	NUM
ap-952	112	41	acta	acta	PROPN
ap-952	112	42	polytechnica	polytechnica	PROPN
ap-952	112	43	vol	vol	NOUN
ap-952	112	44	.	.	PUNCT
ap-952	113	1	47	47	NUM
ap-952	113	2	no	no	NOUN
ap-952	113	3	.	.	PUNCT
ap-952	114	1	4–5/2007	4–5/2007	NUM